CHC - Interim / Quarterly Report 2025

CHC Resources Corporation and Subsidiaries

Consolidated Financial Statements for the Nine Months Ended September 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 September 30, 2025 and 2024, and the related consolidated statements of comprehensive income for the three months and nine months ended September 30, 2025 and 2024, and the consolidated statements of changes in equity and cash flows for the nine months then ended September 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 September 30, 2025 and 2024, and of its consolidated financial performance for the three months and nine months ended September 30, 2025 and 2024, and its consolidated cash flows for the nine months ended September 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 November 5, 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) Notes receivable - related parties (Notes 8 and 29) Accounts receivable (Note 8) Accounts receivable - related parties (Notes 8 and 29) Other receivables Other receivables - related parties (Note 29) Current tax assets 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		September 30, 2025		December 31, 2024		September 30, 2024
		Amount % $ 330,703 3 210,018 2 969 - 196,022 2 - - 251,054 2 946,204 8 4,710 - 33,193 - 1,414 - 459,944 4 196,753 2 93,653 1 25,039 - 10,257 - 19,576 - 2,779,509 24 34,946 - 280,507 3 4,371,413 39 1,162,526 10 2,323,540 20 4,298 - 94,499 1 63,498 1 222,184 2 3,850 - 4,247 - 8,565,508 76 $ 11,345,017 100 $ 319,795 3 66,018 1 3,231 - 145,725 1 93,470 1 149,148 1 413 - 743,882 7 173,886 1 84,579 1 363,261 3 43,297 - 58,196 1 23,909 - 2,268,810 20 1,255,404 11 407,670 4 146,515 1 740,733 7 - - 6,555 - 2,556,877 23 4,825,687 43 2,485,404 22 162,398 1 1,776,482 16 104,464 1 1,952,962 17 3,833,908 34 (184,694) (2) 6,297,016 55 222,314 2 6,519,330 57 $ 11,345,017 100		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 % $ 448,344 4 250,614 2 1,576 - 203,646 3 146 - 231,695 2 1,001,076 8 5,155 - 35,441 - - - 431,141 4 132,494 1 113,502 1 32,062 - 25,448 - 31,858 - 2,944,198 25 34,418 - 285,678 2 4,594,294 38 1,404,595 12 2,326,530 20 6,787 - 107,477 1 878 - 232,051 2 3,850 - 3,908 - 9,000,466 75 $ 11,944,664 100 $ 572,543 5 68,223 1 7,616 - 138,676 1 69,677 1 25,717 - 410 - 852,348 7 156,222 1 99,613 1 346,744 3 40,446 - 64,862 1 13,293 - 2,456,390 21 1,609,724 13 332,746 3 139,118 1 979,295 8 42,185 - 9,241 - 3,112,309 25 5,568,699 46 2,485,404 21 162,398 1 1,657,720 14 17,532 - 1,876,417 16 3,551,669 30 (58,120) - 6,141,351 52 234,614 2 6,375,965 54 $ 11,944,664 100

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 September 30	For the Three Months Ended September 30	For the Three Months Ended September 30		For the Nine Months	Ended September 30	Ended September 30
		2025		2024		2025		2024
		Amount % $ 1,901,597 57 2,088 - 1,418,209 43 3,321,894 100 1,491,604 45 1,990 - 1,336,171 40 2,829,765 85 492,129 15 60,638 2 74,505 2 6,857 - - - 142,000 4 350,129 11 1,052 - 17,574 - (2,744 ) - (12,715 ) - 6,667 - 9,834 - 359,963 11 70,703 2 289,260 9		Amount % $ 1,961,991 57 856 - 1,457,180 43 3,420,027 100 1,530,547 45 816 - 1,403,175 41 2,934,538 86 485,489 14 54,841 2 70,443 2 6,394 - - - 131,678 4 353,811 10 1,354 - 18,733 1 (2,312 ) - (19,087 ) (1 ) 3,431 - 2,119 - 355,930 10 69,214 2 286,716 8		Amount % $ 6,105,067 58 7,390 - 4,353,406 42 10,465,863 100 4,724,568 45 7,039 - 4,123,478 39 8,855,085 84 1,610,778 16 167,695 2 210,456 2 20,044 - 2,460 - 400,655 4 1,210,123 12 4,678 - 37,347 - (6,591 ) - (40,607 ) - 14,256 - 9,083 - 1,219,206 12 248,286 2 970,920 10		Amount % $ 5,693,527 59 8,585 - 4,037,546 41 9,739,658 100 4,416,929 45 8,177 - 3,831,703 39 8,256,809 84 1,482,849 16 164,087 2 201,507 2 19,278 - - - 384,872 4 1,097,977 12 4,796 - 40,140 - (2,376 ) - (51,923 ) (1 ) 5,930 - (3,433) (1) 1,094,544 11 210,816 2 883,728 9 (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 gain (loss) on investments in equity instruments at fair value through other comprehensive income Gain on hedging instruments Share of the other comprehensive income (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 income (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 September 30	For the Three Months Ended September 30	For the Three Months Ended September 30		For the Nine Months	For the Nine Months	Ended September 30	Ended September 30
		2025		2024		2025			2024
		Amount % $ 8,026 - - - 4,806 - 21,311 1 (179) - 33,964 1 $ 323,224 10 $ 284,891 9 4,369 - $ 289,260 9 $ 315,584 10 7,640 - $ 323,224 10 $ 1.15 $ 1.14		Amount % $ (1,915 ) - - - 931 - 6,433 - 23 - 5,472 - $ 292,188 8 $ 280,018 8 6,698 - $ 286,716 8 $ 284,493 8 7,695 - $ 292,188 8 $ 1.13 $ 1.12		Amount $ (3,081 ) - (90 ) (88,377 ) (386) (91,934 ) $ 878,986 $ 955,891 15,029 $ 970,920 $ 877,250 1,736 $ 878,986 $ 3.85 $ 3.84	% - - - (1 ) - (1 ) 9 10 - 10 9 - 9		Amount % $ (40,826 ) - 42 - (6,958 ) - 12,554 - 3 - (35,185) - $ 848,543 9 $ 865,148 9 18,580 - $ 883,728 9 $ 828,110 9 20,433 - $ 848,543 9 $ 3.48 $ 3.47

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)

(In Thousands of New Taiwan Dollars)
BALANCE AT JANUARY 1, 2025 Appropriation of 2024 earnings (Note 22) Legal reserve Special reserve Cash dividends Changes in capital surplus from investments in associates accounted for using the equity method Net profit for the nine months ended September 30, 2025 Other comprehensive income (loss) for the nine months ended September 30, 2025, net of income tax Total comprehensive income (loss) for the nine months ended September 30, 2025 Adjustment of non-controlling interests Disposal of investments in equity instruments at fair value through other comprehensive income (loss) BALANCE AT SEPTEMBER 30, 2025 BALANCE AT JANUARY 1, 2024 Appropriation of 2023 earnings (Note 22) Legal reserve Special reserve Cash dividends Net profit for the nine months ended September 30, 2024 Other comprehensive income (loss) for the nine months ended September 30, 2024, net of income tax Total comprehensive income (loss) for the nine months ended September 30, 2024 Adjustment of non-controlling interests Changes in ownership interests in subsidiaries Disposal of investments in equity instruments at fair value through other comprehensive income (loss) BALANCE AT SEPTEMBER 30, 2024			Total Equity At	tributable to Own	er	s of the Corporation				Total Equity Attributable to Owners of the Corporation Non-controlling Interests $ 6,413,940 $ 240,103 - - - - (994,161) - (994,161) - (13) - 955,891 15,029 (78,641) (13,293 ) 877,250 1,736 - (19,525) - - $ 6,297,016 $ 222,314 $ 6,058,488 $ 226,615 - - - - (745,621) - (745,621) - 865,148 18,580 (37,038) 1,853 828,110 20,433 - (12,476) 374 42 - - $ 6,141,351 $ 234,614	Total Equity $ 6,654,043 - - (994,161) (994,161) (13) 970,920 (91,934) 878,986 (19,525) - $ 6,519,330 $ 6,285,103 - - (745,621) (745,621) 883,728 (35,185 ) 848,543 (12,476) 416 - $ 6,375,965
	Ordinary Shares Capital Surplus $ 2,485,404 $ 162,411 - - - - - - - - - (13) - - - - - - - - - - $ 2,485,404 $ 162,398 $ 2,485,404 $ 162,024 - - - - - - - - - - - - - - - - - 374 - - $ 2,485,404 $ 162,398		Retained Earnings				Other Equity		Total $ (104,465) - - - - - - (78,646 ) (78,646 ) - (1,583) $ (184,694) $ (17,532 ) - - - - - (37,038) (37,038) - - (3,550) $ (58,120)
						Exchange Differences on Translation of the Financial Statements of Foreign Operations $ (25,722) - - - - - - (75,506) (75,506) - - $ (101,228) $ (36,463 ) - - - - - 10,674 10,674 - - - $ (25,789)	Unrealized Valuation Gains (Losses) on Financial Assets at Fair Value Through Other Comprehensive Income $ (78,743) - - - - - - (3,140) (3,140) - (1,583) $ (83,466) $ 18,973 - - - - - (47,754) (47,754) - - (3,550) $ (32,331)	Gain (Loss) on Hedging Instruments $ - - - - - - - - - - - $ - $ (42) - - - - - 42 42 - - - $ -
		Legal Reserve $ 1,657,720 118,762 - - 118,762 - - - - - - $ 1,776,482 $ 1,574,514 83,206 - - 83,206 - - - - - - $ 1,657,720	Special Reserve Unappropriated Earnings $ 17,532 $ 2,195,338 - (118,762 ) 86,932 (86,932 ) - (994,161) 86,932 (1,199,855) - - - 955,891 - 5 - 955,896 - - - 1,583 $ 104,464 $ 1,952,962 $ - $ 1,854,078 - (83,206 ) 17,532 (17,532 ) - (745,621) 17,532 (846,359 ) - 865,148 - - - 865,148 - - - - - 3,550 $ 17,532 $ 1,876,417	Total $ 3,870,590 - - (994,161) (994,161) - 955,891 5 955,896 - 1,583 $ 3,833,908 $ 3,428,592 - - (745,621) (745,621) 865,148 - 865,148 - - 3,550 $ 3,551,669

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 Dividend 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 Notes receivable - related parties 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		For the Nine Months Ended September 30	For the Nine Months Ended September 30
		2025 $ 1,219,206 640,419 19,639 2,460 (471) 40,607 (4,678) (7,580) (14,256) (74) - 2,445 30,563 (4) (661) 115,045 - (49,974) (19,888) 23,467 4,861 (59,442) (99,323) (1,944) (2,076) 4,434 19,788 (11,855) (13,160) (9,689) (108,998) (4,711) 18,777 (8,282) 1,724,645 (323,388) 1,401,257	2024 $ 1,094,544 649,826 19,578 - (160) 51,923 (4,796) (7,704) (5,930) (157) 49,541 (802) 26,600 (177) 106 66,951 (146) (4,650) (149,778) 21,399 (14,596) 10,166 (11,631) 15,668 (10,716) (13,382) 11,422 (8,592) (6,934) (31,961) (130,204) 76,625 7,016 (7,224) 1,691,825 (319,655) 1,372,170

(Continued)

CHC RESOURCES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)

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 Proceeds from disposal of property, plant and equipment Increase in refundable deposits Decrease in refundable deposits Payments for intangible assets Increase in other noncurrent assets Interest received Dividends received from others 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 Proceeds from guarantee deposits received Refund of guarantee deposits received Repayments of principal portion of lease liabilities Dividends paid to owner of the Corporation Interest paid Dividends paid to non-controlling interest Net cash used in financing activities EFFECTS OF EXCHANGE RATE CHANGES ON THE BALANCE OF CASH AND CASH EQUIVALENTS NET INCREASE (DECREASE) 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 Nine Months Ended September 30	For the Nine Months Ended September 30
		2025 $ (840,000) 840,471 - (144,050) 228 (2,358) - (1,432) (16,512) 5,418 3,572 12,845 (141,818) 3,089,627 (3,118,659) - - 1,297,208 (1,360,811) 7,034 - (251,325) (994,161) (43,728) (19,525) (1,394,340) (24,838) (159,739) 490,442 $ 330,703	2024 $ (150,000) 150,160 4,321 (196,616) 381 - 11,710 (2,344) (15,504) 4,729 3,789 12,478 (176,896) 4,316,463 (4,340,092) 5,000 (5,000) 3,530,000 (3,493,542) - (11,747) (243,599) (745,621) (53,063) (12,476) (1,053,677) 4,426 146,023 302,321 $ 448,344

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

(Concluded)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED SEPTEMBER 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 September 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 November 5, 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” Amendments to IFRS 9 and IFRS 7 “Contracts Referencing Nature- dependent Electricity” Annual Improvements to IFRS Accounting Standards - Volume 11 IFRS 17 “Insurance Contracts” (including the 2020 and 2021 amendments to IFRS 17)	Effective Date Announced by IASB (International Accounting Standards Board)
	January 1, 2026 January 1, 2026 January 1, 2026 January 1, 2023

New, Amended and Revised Standards and Interpretations
Amendments to IFRS 9 and IFRS 7 “Amendments to the
Classification and Measurement of Financial Instruments”

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

Annual Improvements to IFRS Accounting Standards - Volume 11

IFRS 17 “Insurance Contracts” (including the 2020 and 2021
amendments to IFRS 17)

Effective Date
Announced by IASB
(International Accounting
Standards Board)

January 1, 2026
January 1, 2026
January 1, 2026
January 1, 2023

As of the date the consolidated financial statements were authorized for issue, the Corporation and its subsidiaries are continuously assessing the possible impact of the application of the amendments on the

Corporation and subsidiaries’ financial position and financial performance and will disclose the relevant impact when the assessment is completed.

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

Effective Date New, Amended and Revised Standards and Interpretations Announced by IASB (Note 1)

Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets To be determined by IASB between an Investor and its Associate or Joint Venture” IFRS 18 “Presentation and Disclosure in Financial Statements” January 1, 2027(Note 2) IFRS 19 “Subsidiaries without Public Accountability: Disclosures” January 1, 2027 (including the 2025 amendments to IFRS 19)

Note 1: Unless stated otherwise, the above IFRS Accounting Standards are effective for annual reporting periods beginning on or after their respective effective dates.
Note 2: On September 25, 2025, the FSC announced that IFRS 18 will take effect starting from January 1, 2028. Domestic entities could elect to apply IFRS 18 for an earlier period after the endorsement of IFRS 18 by the FSC.

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.

10 -

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 assets or 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.

11 -

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

	September 30,	September 30,	December 31,	December 31,	September 30,	September 30,
		2025		2024		2024
Cash on hand	$	265	$	108	$	274
Checking accounts and demand deposits		283,938		390,984		373,470
Cash equivalents (time deposits with original
maturities of 3 months or less)		46,500		99,350		74,600
	$	330,703	$	490,442	$	448,344

7. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

	September 30,	December 31,	September 30,
	2025	2024	2024
Domestic and foreign investments (investments in
equity instruments)
Listed shares	$ 210,018	$ 212,724	$ 250,614
Unlisted shares	34,946	35,320	34,418
	$ 244,964	$ 248,044	$ 285,032

(Continued)

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	September 30,	December 31,	September 30,
	2025	2024	2024
Current	$ 210,018	$ 212,724	$ 250,614
Noncurrent	34,946	35,320	34,418
	$ 244,964	$ 248,044	$ 285,032
			(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)

	September	September	30,	December	December	31,	September	September	30,
		2025			2024			2024
Notes receivable (including related parties)
At amortized cost
Operating	$	196,022		$	311,067		$	203,792
Accountsreceivable (includingrelated parties)
At amortized cost
Gross carrying amount	$	1,197,258		$	1,129,856		$	1,232,771
Less: Allowance for impairment loss			-			-			-
	$	1,197,258		$	1,129,856		$	1,232,771

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.

13 -

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

September 30, 2025

Gross carrying amount Loss allowance (Lifetime ECLs) Amortized cost December 31, 2024 Gross carrying amount Loss allowance (Lifetime ECLs) Amortized cost September 30, 2024 Gross carrying amount Loss allowance (Lifetime ECLs) Amortized cost	Not Past Due $ 1,312,550 - $ 1,312,550 Not Past Due $ 1,284,354 - $ 1,284,354 Not Past Due $ 1,400,281 - $ 1,400,281	1 to 30 Days $ 73,534 - $ 73,534 1 to 30 Days $ 153,585 - $ 153,585 1 to 30 Days $ 28,211 - $ 28,211	31 to 60 Days 61 to 180 Days Over 180 Days $ 7,196 $ - $ - - - - $ 7,196 $ - $ - 31 to 60 Days 61 to 180 Days Over 180 Days $ 2,984 $ - $ - - - - $ 2,984 $ - $ - 31 to 60 Days 61 to 180 Days Over 180 Days $ 5,871 $ 2,200 $ - - - - $ 5,871 $ 2,200 $ -	Total $ 1,393,280 -
				$ 1,393,280
				Total $ 1,440,923 -
				$ 1,440,923
				Total $ 1,436,563 -
				$ 1,436,563

The movements of the loss allowance of trade receivables were as follows:

Balance, beginning of the period Allowance for impairment loss Amounts written off Balance, end of the period		For the Nine Months Ended September 30	For the Nine Months Ended September 30
		2025 $ - 2,460 (2,460) $ -	2024 $ - - - $ -

9. INVENTORIES

	September 30,	December 31,	September 30,
	2025	2024	2024
Raw materials	$ 140,656	$ 130,557	$ 118,836
Supplies	216,144	194,396	192,954
Finished goods	99,302	71,842	107,459
Merchandise	3,842	4,307	4,666
Materials and supplies in transit	-	1,845	7,226
	$ 459,944	$ 402,947	$ 431,141

The cost of inventories recognized as cost of goods sold for the three months and nine months ended September 30, 2025 and 2024 was NT$1,491,604 thousand, NT$1,530,547 thousand, NT$4,724,568 thousand and NT$4,416,929 thousand, respectively, which included loss on inventories NT$1,946 thousand, NT$245 thousand, NT$2,445 thousand, and reversal of loss on inventories of NT$802 thousand,

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respectively. The reversal of loss on inventory was mainly due to the continuous consumption of inventory.

10. PREPAYMENT

	September 30,	December 31,	December 31,	September 30,	September 30,
	2025		2024		2024
Prepayment for purchases	$ 130,821	$	56,545	$	83,903
Others	65,932		40,885		48,591
	$ 196,753	$	97,430	$	132,494

11. OTHER FINANCIAL ASSETS

	September 30,	September 30,	December 31,	December 31,	September 30,
		2025		2024	2024
Time deposits with original maturities of more
than 3 months	$	79,675	$	84,325	$ 106,250
Pledged time deposits - performance bond (Note
30)		17,828		11,102	11,102
	$	97,503	$	95,427	$ 117,352
Current	$	93,653	$	91,577	$ 113,502
Noncurrent		3,850		3,850	3,850
	$	97,503	$	95,427	$ 117,352

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 (%) September 30, 2025 December 31, 2024 September 30, 2024 93 93 93 51 51 51 90 90 90 85 85 85

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

September 30, 2025 Associates that are not individually material $ 280,507 The Corporation and its subsidiaries’ share of: Net profit for the period Other comprehensive loss Total comprehensive income (loss)	December 31, 2024 September 30, 2024 $ 279,582 $ 285,678 For the Nine Months Ended September 30	December 31, 2024 September 30, 2024 $ 279,582 $ 285,678 For the Nine Months Ended September 30	December 31, 2024 September 30, 2024 $ 279,582 $ 285,678 For the Nine Months Ended September 30
		2025 $ 14,256 (476) $ 13,780	2024 $ 5,930 (6,955) $ (1,025)

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 nine months ended September 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 nine months ended September 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 nine months ended September 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 nine months ended September 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 (increase) in payables on equipment Capitalized interest Paid in cash		For the Nine Months Ended September 30	For the Nine Months Ended September 30
		2025 $ 273,713 4,351 (132,624) (1,390) $ 144,050	2024 $ 175,347 402 21,854 (987) $ 196,616

15. LEASE ARRANGEMENTS

a. Right-of-use assets

Carrying amount	September 30, 2025 December 31, 2024 September 30, 2024 $ 872,134 $ 1,061,733 $ 1,109,306 275,970 267,561 279,251 14,422 15,669 16,038 $ 1,162,526 $ 1,344,963 $ 1,404,595 For the Three Months Ended September 30 For the Nine Months Ended September 30 2025 2024 2025 2024 $ 73,169 $ 23,229 $ 69,125 $ 68,165 $ 207,104 $ 220,604 11,943 11,730 35,472 34,969 - - - 30 1,914 2,205 5,693 5,918 $ 82,982 $ 82,100 $ 248,269 $ 261,521	September 30, 2025 December 31, 2024 September 30, 2024 $ 872,134 $ 1,061,733 $ 1,109,306 275,970 267,561 279,251 14,422 15,669 16,038 $ 1,162,526 $ 1,344,963 $ 1,404,595 For the Three Months Ended September 30 For the Nine Months Ended September 30 2025 2024 2025 2024 $ 73,169 $ 23,229 $ 69,125 $ 68,165 $ 207,104 $ 220,604 11,943 11,730 35,472 34,969 - - - 30 1,914 2,205 5,693 5,918 $ 82,982 $ 82,100 $ 248,269 $ 261,521	September 30, 2025 December 31, 2024 September 30, 2024 $ 872,134 $ 1,061,733 $ 1,109,306 275,970 267,561 279,251 14,422 15,669 16,038 $ 1,162,526 $ 1,344,963 $ 1,404,595 For the Three Months Ended September 30 For the Nine Months Ended September 30 2025 2024 2025 2024 $ 73,169 $ 23,229 $ 69,125 $ 68,165 $ 207,104 $ 220,604 11,943 11,730 35,472 34,969 - - - 30 1,914 2,205 5,693 5,918 $ 82,982 $ 82,100 $ 248,269 $ 261,521	September 30, 2025 December 31, 2024 September 30, 2024 $ 872,134 $ 1,061,733 $ 1,109,306 275,970 267,561 279,251 14,422 15,669 16,038 $ 1,162,526 $ 1,344,963 $ 1,404,595 For the Three Months Ended September 30 For the Nine Months Ended September 30 2025 2024 2025 2024 $ 73,169 $ 23,229 $ 69,125 $ 68,165 $ 207,104 $ 220,604 11,943 11,730 35,472 34,969 - - - 30 1,914 2,205 5,693 5,918 $ 82,982 $ 82,100 $ 248,269 $ 261,521	September 30, 2025 December 31, 2024 September 30, 2024 $ 872,134 $ 1,061,733 $ 1,109,306 275,970 267,561 279,251 14,422 15,669 16,038 $ 1,162,526 $ 1,344,963 $ 1,404,595 For the Three Months Ended September 30 For the Nine Months Ended September 30 2025 2024 2025 2024 $ 73,169 $ 23,229 $ 69,125 $ 68,165 $ 207,104 $ 220,604 11,943 11,730 35,472 34,969 - - - 30 1,914 2,205 5,693 5,918 $ 82,982 $ 82,100 $ 248,269 $ 261,521
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 $ 69,125 11,943 - 1,914 $ 82,982	2024 $ 68,165 11,730 - 2,205 $ 82,100		2025 $ 73,169 $ 207,104 35,472 - 5,693 $ 248,269	2024 $ 23,229 $ 220,604 34,969 30 5,918 $ 261,521

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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 nine months ended September 30, 2025 and 2024.

b. Lease liabilities

	September 30,	September 30,	December 31,	December 31,	September 30,	September 30,
		2025		2024		2024
	Carrying amount
Current	$	363,261	$	348,955	$	346,744
Noncurrent	$	740,733	$	926,974	$	979,295
Range of discount rates (%) for lease liabilities was		as follows:
	September 30,		December 31,		September 30,
		2025		2024		2024
Land		0.59-2.05		0.59-1.97		0.59-1.97
Buildings		1.67-3.45		0.86-3.45		0.63-3.45
Transportation equipment		0.59-1.92		0.59-1.91		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 September 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

18 -

the Corporation could apply for renewal before the contract expires. The terms of renewal are to be 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 September 30, 2025, the Corporation had paid performance bonds amounted to NT$198,500 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 September 30 2025 2024 $ 3,039 $ 2,946		For the Nine Months Ended September 30	For the Nine Months Ended September 30
		2025 $ 3,039		2025 $ 9,801 $ 279,241	2024 $ 10,090 $ 273,283

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 nine months ended September 30, 2025

Cost Balance at January 1, 2025 and September 30, 2025 Accumulated depreciation Balance at January 1, 2025 Depreciation expenses Balance at September 30, 2025 Carrying amount at December 31, 2024 Carrying amount at September 30, 2025 For the nine months ended September 30, 2024 Cost Balance at January 1, 2024 and September 30, 2024 Accumulated depreciation Balance at January 1, 2024 Depreciation expenses Balance at September 30, 2024 Carrying amount at September 30, 2024	Land $ 2,308,845 - - - $ 2,308,845 $ 2,308,845 Land $ 2,308,845 - - - $ 2,308,845	Buildings $ 51,865 34,927 2,243 37,170 $ 16,938 $ 14,695 Buildings $ 51,865 31,937 2,243 34,180 $ 17,685	Total $ 2,360,710 34,927 2,243 37,170 $ 2,325,783 $ 2,323,540 Total $ 2,360,710 31,937 2,243 34,180 $ 2,326,530

The maturity analysis of lease receivables under operating leases of investment properties was as follows:

		September 30,	December 31,	September 30,
		2025	2024	2024
Year	1	$ 29,014	$ 29,014	$ 29,014
Year	2	21,531	29,014	29,014
Year	3	7,013	21,531	21,531
Year	4	-	7,013	7,013

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

As of September 30, 2025, December 31, 2024 and September 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 appraisals 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

20 -

participants, and the 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 nine months ended September 30, 2025

Cost
Balance at January 1, 2025

Additions
Derecognition
Effects of foreign currency exchange differences

Balance at September 30, 2025

Accumulated amortization
Balance at January 1, 2025
Amortization expenses
Derecognition
Effects of foreign currency exchange differences

Balance at September 30, 2025

Carrying amount at December 31, 2024

Carrying amount at September 30, 2025

For the nine months ended September 30, 2024

Computer
Software
$ 15,449
1,432
(5,540)

(115)

11,226
9,350
3,214
(5,540)

(96)

6,928
$ 6,099
$ 4,298

Cost Balance at January 1, 2024 Additions Derecognition Effects of foreign currency exchange differences Balance at September 30, 2024 Accumulated amortization Balance at January 1, 2024 Amortization expenses Derecognition Effects of foreign currency exchange differences Balance at September 30, 2024 Carrying amount at September 30, 2024	Computer Software $ 15,780 2,344 (2,736) 17 15,405 7,800 3,544 (2,736) 10 8,618 $ 6,787

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
	September 30,		December 31,		September 30,
		2025		2024		2024
Unsecured bank loans - annual interest rates
range was 1.80%-5.56%, 1.80%-5.23%
and 1.75%-6.04% as of September 30,
2025, December 31, 2024 and September
30, 2024, respectively		$ 318,915		$ 324,609		$ 522,720
Letters of credit - annual interest rates range
was 1.84%, 1.83%-1.92% and
1.83%-1.90% as of September 30, 2025,
December 31, 2024 and September 30,
2024, respectively		880		30,625		49,823
		$ 319,795		$ 355,234		$ 572,543
b. Long-term borrowings
	September 30,		December 31,		September 30,
		2025		2024		2024
Unsecured bank loans - due in March 2027,
annual interest rates range was
1.72%-1.81%, 1.78%-1.82% and
1.75%-1.80% as of September 30, 2025,
December 31, 2024 and September 30,
2024, respectively	$	1,197,208	$	1,200,000	$	1,480,000
Secured bank loans - due in July 2027, annual
interest rates range was 5.43%-6.60%,
5.26%-6.40% and 5.26%-6.12% as of
September 30, 2025, December 31, 2024
and September 30, 2024, respectively		116,392		194,586		194,586
		1,313,600		1,394,586		1,674,586
Less: Current portion		58,196		64,862		64,862
	$	1,255,404	$	1,329,724	$	1,609,724
OTHER PAYABLES (INCLUDING RELATED	PARTIES)
	September 30,		December 31,		September 30,
		2025		2024		2024
Freight	$	234,047	$	304,201	$	320,235
Salaries and bonus		170,665		208,218		164,947
Outsourced salaries		131,120		126,240		140,794
Utility bill		58,773		49,429		47,995
Compensation of employees and remuneration of
directors and supervisors		46,275		59,183		44,910
						(Continued)

19. OTHER PAYABLES (INCLUDING RELATED PARTIES)

22 -

	September 30,	September 30,	December 31,	December 31,	September 30,	September 30,
		2025		2024		2024
Professional service payable	$	16,856	$	13,461	$	10,457
Subcontracting expenses		11,471		14,920		9,123
Taxes payable		9,849		11,290		8,641
Others		238,712		246,269		261,468
	$	917,768	$	1,033,211	$	1,008,570
						(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$297,646 thousand, NT$318,886, thousand and NT293,811 thousand, as of September 30, 2025, December 31, 2024, and September 30, 2024, respectively. The amounts were recognized as other payables-others and provisions.

20. PROVISIONS - NONCURRENT

September 30, 2025 Cost of resource reutilization $ 407,670 Balance, beginning of the period Additions Balance, end of the period	December 31, 2024 September 30, 2024 $ 377,107 $ 332,746 For the Nine Months Ended September 30	December 31, 2024 September 30, 2024 $ 377,107 $ 332,746 For the Nine Months Ended September 30	December 31, 2024 September 30, 2024 $ 377,107 $ 332,746 For the Nine Months Ended September 30
		2025 $ 377,107 30,563 $ 407,670	2024 $ 306,146 26,600 $ 332,746

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 nine months ended September 30, 2025 and 2024, the pension expense of defined benefit plans were NT$757 thousand, NT$1,322 thousand, NT$2,268 thousand and NT$3,965 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

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

	September	September	30,	December 31,	December 31,	September	September	30,
		2025			2024		2024
May be used to offset deficits,
distribute as cash dividends, or
transfer to share capital (Note 1)
Additional paid-in capital	$	4,419		$	4,419	$	4,419
Consolidation excess		157,497			157,497		157,497
Donations		108			108		108
Mayonlybe used to offset deficits
Changes in ownership interests in subsidiaries
(Note 2)		374			374		374
Changes in capital surplus from investments
in associates accounted for using the equity
method			-		13			-
	$	162,398		$	162,411	$	162,398

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

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Corporation’s board of directors as the basis for proposing a distribution plan, which should be resolved 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 Nine Months Ended September 30	For the Nine Months Ended September 30
		2025 $ (25,722) (75,120) (386) $ (101,228)	2024 $ (36,463) 10,671 3 $ (25,789)

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	For the Nine Months Ended September 30
	2025 2024 $ (78,743) $ 18,973 (3,045) (40,796) (95) (6,958) (Continued)

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	For the Nine Months Ended September 30	For the Nine Months Ended September 30
$	2025 2024 (1,583) $ (3,550) (83,466) $ (32,331) (Concluded) For the Nine Months Ended September 30
$

	2025 2024 $ - $ (42) - 42 $ - $ - For the Nine Months Ended September 30
$	2025 240,103 15,029 (13,257) (36) (19,525) - 222,314	2024 $ 226,615 18,580 1,883 (30) (12,476) 42 $ 234,614
$

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23. REVENUE

a. Contract balances

	September 30,	September 30,	December 31,	December 31,	December 31,	December 31,	September 30,	September 30,	January 1,	January 1,
		2025		2024				2024		2024
Notes receivable and accounts
receivable (Note 8)	$	1,393,280	$	1,440,923			$	1,436,563	$	1,348,940
Contract assets - current
Construction contracts	$	908	$			-	$	1,347	$	1,348
Sales retention receivables		61			308			229		334
Less: Allowance for
impairment loss		-				-		-		-
	$	969	$		308		$	1,576	$	1,682
Contract liabilities - current
Sale received in advance	$	65,067	$	44,052			$	64,718	$	55,846
Services received in advance		951			2,178			3,028		478
Construction contracts		-				-		477		477
	$	66,018	$	46,230			$	68,223	$	56,801
Assets related to contract costs
		September 30,					December 31,		September 30,
			2025					2024		2024
Current
Cost to fulfil a contract
Executing cost			$ 10,257				$	14,691	$	25,448

b. Assets related to contract costs

c. Disaggregation of revenue

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

24. PROFIT BEFORE INCOME TAX

a. Other income

Rental income Dividend income Others		For the Three Months Ended September 30 2025 2024 $ 7,514 $ 7,631 7,580 7,704 2,480 3,398 $ 17,574 $ 18,733		For the Nine Months Ended September 30	For the Nine Months Ended September 30
		2025 $ 7,514 7,580 2,480 $ 17,574		2025 $ 22,444 7,580 7,323 $ 37,347	2024 $ 22,545 7,704 9,891 $ 40,140

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b. Other gains and losses

For the Three Months Ended September 30 2025 2024 Net gain on financial assets at fair value through profit or loss $ 82 $ - Net gain on disposal of property, plant and equipment (12) - Net foreign exchange gain (loss) 181 (1,017) Others (2,995) (1,295) $ (2,744) $ (2,312) c. Finance costs For the Three Months Ended September 30 2025 2024 Interest on borrowings $ 7,326 $ 12,861 Interest on lease liabilities 5,841 6,577 13,167 19,438 Less: Amounts included in the cost of qualifying assets 452 351 $ 12,715 $ 19,087 Information on capitalized interest was as follows: For the Three Months Ended September 30 2025 2024 Capitalized interest amounts $ 452 $ 351 Capitalization rates (%) 1.80 1.77-1.78		For the Nine Months Ended September 30
		2025 2024 $ 471 $ 160 74 157 2,546 1,108 (9,682) (3,801) $ (6,591) $ (2,376) For the Nine Months Ended September 30
		2025 2024 $ 23,882 $ 33,316 18,115 19,594 41,997 52,910 1,390 987 $ 40,607 $ 51,923 For the Nine Months Ended September 30
		2025 2024 $ 1,390 $ 987 1.80-1.81 1.55-1.78

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d. Depreciation and amortization

Property, plant and equipment Right-of-use assets Investment properties Intangible assets Other noncurrent assets An analysis of depreciation by function Operating costs Operating expenses Others An analysis of amortization by function Operating costs Operating expenses		For the Three Months Ended September 30 2025 2024 $ 121,340 $ 127,469 82,982 82,100 747 726 1,007 1,235 5,753 5,311 $ 211,829 $ 216,841 $ 192,087 $ 198,978 12,213 10,547 769 770 $ 205,069 $ 210,295 $ 5,804 $ 5,372 956 1,174 $ 6,760 $ 6,546		For the Nine Months Ended September 30	For the Nine Months Ended September 30
		2025 $ 121,340 82,982 747 1,007 5,753 $ 211,829 $ 192,087 12,213 769 $ 205,069 $ 5,804 956 $ 6,760		2025 $ 389,907 248,269 2,243 3,214 16,425 $ 660,058 $ 602,992 35,117 2,310 $ 640,419 $ 16,577 3,062 $ 19,639	2024 $ 386,062 261,521 2,243 3,544 16,034 $ 669,404 $ 615,333 32,183 2,310 $ 649,826 $ 16,126 3,452 $ 19,578

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		For the Three Months Ended September 30 2025 2024 $ 174,870 $ 170,761 12,483 11,895 7,567 8,308 194,920 190,964 3,697 3,629 757 1,322 4,454 4,951 - - $ 199,374 $ 195,915		For the Nine Months Ended September 30	For the Nine Months Ended September 30
		2025 $ 174,870 12,483 7,567 194,920 3,697 757 4,454 - $ 199,374		2025 $ 504,977 37,938 26,188 569,103 11,346 2,268 13,614 11 $ 582,728	2024 $ 490,856 36,451 23,934 551,241 11,087 3,965 15,052 - $ 566,293 (Continued)

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Analysis of employee benefits expense by function Operating costs Operating expenses	For the Three Months Ended September 30 2025 2024 $ 123,294 $ 122,404 76,080 73,511 $ 199,374 $ 195,915	For the Nine Months Ended September 30 2025 2024 $ 366,317 $ 356,181 216,411 210,112 $ 582,728 $ 566,293 (Concluded)

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 Corporation had resolved the amendments to the Corporation’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 nine months ended September 30, 2025 and 2024, are as follows:

Compensation of employees Remuneration of directors	For the Three Months Ended September 30 2025 2024 $ 11,930 $ 12,192 2,386 2,439	For the Nine Months Ended September 30
		2025 2024 $ 37,874 $ 36,103 7,575 7,221

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:

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

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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 September 30 2025 2024 $ 69,025 $ 66,514 - - 1,678 2,700 $ 70,703 $ 69,214		For the Nine Months Ended September 30	For the Nine Months Ended September 30
		2025 $ 69,025 - 1,678 $ 70,703		2025 $ 233,313 431 14,542 $ 248,286	2024 $ 208,802 (4,702) 6,716 $ 210,816

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.

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:

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Net profit for the period

For the Three Months Ended September 30 2025 2024 Net profit attributable to owners of the Corporation $ 284,891 $ 280,018 Number of ordinary shares (in thousands of shares) For the Three Months Ended September 30 2025 2024 Weighted average number of ordinary shares used in computation of basic earnings per share 248,540 248,540 Effects of potential dilutive ordinary shares: Compensation of employees 530 545 Weighted average number of ordinary shares used in computation of diluted earnings per share 249,070 249,085	For the Three Months Ended September 30 2025 2024 Net profit attributable to owners of the Corporation $ 284,891 $ 280,018 Number of ordinary shares (in thousands of shares) For the Three Months Ended September 30 2025 2024 Weighted average number of ordinary shares used in computation of basic earnings per share 248,540 248,540 Effects of potential dilutive ordinary shares: Compensation of employees 530 545 Weighted average number of ordinary shares used in computation of diluted earnings per share 249,070 249,085	For the Nine Months Ended September 30	For the Nine Months Ended September 30
		2025 2024 $ 955,891 $ 865,148 For the Nine Months Ended September 30
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
	2025 248,540 530 249,070	2025 248,540 669 249,209	2024 248,540 676 249,216

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.

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.

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

September30,2025 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 September 30, 2024 Financial assets at fair value through other comprehensive income Equity instruments Domestic listed shares Domestic and foreign unlisted shares	Level 1 $ 210,018 - $ 210,018 $ 212,724 - $ 212,724 $ 250,614 - $ 250,614	Level 2 $ - - $ - $ - - $ - $ - - $ -	Level 3 $ - 34,946 $ 34,946 $ - 35,320 $ 35,320 $ - 34,418 $ 34,418	Total $ 210,018 34,946 $ 244,964 $ 212,724 35,320 $ 248,044 $ 250,614 34,418 $ 285,032

There was no transfer between Level 1 and Level 2 for the nine months ended September 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 Nine Months Ended September 30	For the Nine Months Ended September 30
		2025 $ 35,320 (374) $ 34,946	2024 $ 33,564 854 $ 34,418

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

	September 30,	September 30,	December 31,	December 31,	September 30,	September 30,
		2025		2024		2024
Financialassets
Financial assets at fair value through other
comprehensive income - equity instruments	$	244,964	$	248,044	$	285,032
Financial assets at amortized cost (Note 1)		2,106,612		2,334,620		2,306,968
Financial liabilities
Financial liabilities at amortized cost (Note 2)		3,002,582		3,119,648		3,547,140

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.

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, 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 nine months ended September 30, 2025 and 2024 would have increased/decreased by NT$304 thousand and NT$239 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:

	September 30,	September 30,	December 31,	December 31,	September 30,	September 30,
		2025		2024		2024
Fair value interest rate risk
Financial liabilities	$	1,103,994	$	1,275,929	$	1,326,039
Cash flow interest rate risk
Financial assets		367,797		544,115		499,676
Financial liabilities		1,633,395		1,749,820		2,247,129

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 nine months ended September 30, 2025 and 2024 would have increased/decreased by NT$12,250 thousand and NT$16,853 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 nine months ended September 30, 2025 and 2024 would have increased/decreased by NT$2,100 thousand and NT$2,506 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:

September 30, 2025 Cement industry $ 422,031 Steel industry 614,498 $ 1,036,529	December 31, 2024 September 30, 2024 $ 378,200 $ 562,317 589,375 677,065 $ 967,575 $ 1,239,382

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.

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.

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

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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.

	Less Than 1	Less Than 1
		Year	Over 1 Years			Total
September30,2025
Non-interest bearing liabilities	$	1,362,632	$	6,555	$	1,369,187
Variable interest rate instruments		387,825		1,310,732		1,698,557
Lease liabilities		373,914		842,934		1,216,848
	$	2,124,371	$	2,160,221	$	4,284,592
Additional information on the maturity	analysis for lease		liabilities was as follows:
	Less Than 1
		Year		1-5 Years	Over 5 Years
Lease liabilities	$	373,914	$	572,927	$	270,007
	Less Than 1
		Year	Over 1 Years			Total
December 31, 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
	Less Than 1
		Year	Over 1 Years			Total
September30,2024
Non-interest bearing liabilities	$	1,290,770	$	9,241	$	1,300,011
Variable interest rate instruments		650,926		1,668,366		2,319,292
Lease liabilities		334,052		1,098,114		1,432,166
	$	2,275,748	$	2,775,721	$	5,051,469

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

Lease liabilities	Less Than 1 Year $ 334,052	1-5 Years $ 805,866	Over 5 Years $ 292,248

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

4)	Unsecured bank facilities Amount used Amount unused Secured bank facilities Amount used Amount unused Cash flow hedges December 31, 2024	September 30, 2025 $ 2,004,117 6,680,023 $ 8,684,140 $ 116,393 20,000 $ 136,393	December 31, 2024 $ 2,015,965 6,507,455 $ 8,523,420 $ 194,586 20,000 $ 214,586	September 30, 2024 $ 2,555,219 5,604,581 $ 8,159,800 $ 194,586 20,000 $ 214,586

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 in Other Equity Hedge Continuing Discontinuing Hedged Item Ineffectiveness Hedges Hedges Cash flow hedge Forecast purchases for equipment $ 42 $ - $ -	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 in Other Equity Hedge Continuing Discontinuing Hedged Item Ineffectiveness Hedges Hedges Cash flow hedge Forecast purchases for equipment $ 42 $ - $ -	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 in Other Equity Hedge Continuing Discontinuing Hedged Item Ineffectiveness Hedges Hedges Cash flow hedge Forecast purchases for equipment $ 42 $ - $ -		Carrying Amount
		Continuing Discontinuing Hedges Hedges $ - $ -

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September 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 in Other Equity Hedge Continuing Discontinuing Hedged Item Ineffectiveness Hedges Hedges Cash flow hedge Forecast purchases for equipment $ 42 $ - $ - For the nine months Ended September 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:

a. Related party name and category

Related Party Name 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	Related Party Category
	Parent of the Corporation Fellow subsidiary Fellow subsidiary Fellow subsidiary Fellow subsidiary Fellow subsidiary Fellow subsidiary Fellow subsidiary Fellow subsidiary

(Continued)

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Related Party Category

Related Party Name

China Steel Chemical Corporation Fellow subsidiary China Ecotek Corporation Fellow subsidiary InfoChamp Systems Corporation Fellow subsidiary China Steel Structure Co., Ltd. Fellow subsidiary C.S.Aluminium Corporation Fellow subsidiary CSC Solar Corporation (CSC SOLAR) Fellow subsidiary Thintech Materials Technology Co., Ltd. Fellow subsidiary TCC Group Holdings Co., LTD. (TCC) Director of the Corporation Asia Cement Corporation (ACC) Director of the Corporation Universal Cement Corporation Director of the Corporation Southeast Cement Corporation Director of the Corporation Taiwan Transport & Storage Corporation (TTSC) Subsidiary of director of the Corporation Nan-Hwa Cement Corporation (NHCC) Subsidiary of director of the Corporation Ta-Ho Maritime Corporation Subsidiary of director of the Corporation Ya Tung Ready Mixed Concrete Co., Ltd. Subsidiary of director of the Corporation Ya Sing Ready Mixed Concrete Corp. Subsidiary of director of the Corporation Universal Cement Concrete Corporation Subsidiary of director of the Corporation Ya Li Transportation Corporation (YL) Subsidiary of director of the Corporation Southeast Topgood Resources Recycling Co., Ltd. Subsidiary of director of the Corporation Formosa Ha Tinh Steel Corporation (FHSC) Other related party

(Concluded)

b. Operating revenue

Related Parties Account Items Category/Names Sales Parent entity - CSC Fellow subsidiaries Directors and its subsidiaries TCC Others 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 September 30 2025 2024 $ 11,056 $ 47,219 44,203 13,088 213,893 212,896 240,094 275,653 $ 509,246 $ 548,856 $ 817,961 $ 707,866 309,760 443,264 174,555 176,429 411 392 40,394 40,704 33,554 52,113 $ 1,376,635 $ 1,420,768 $ 2,088 $ 856		For the Nine Months Ended September 30	For the Nine Months Ended September 30
		2025 $ 11,056 44,203 213,893 240,094 $ 509,246 $ 817,961 309,760 174,555 411 40,394 33,554 $ 1,376,635 $ 2,088		2025 $ 84,081 113,854 645,646 698,656 $ 1,542,237 $ 2,240,087 1,162,893 535,328 1,011 128,167 148,624 $ 4,216,110 $ 7,390	2024 $ 128,782 35,649 649,049 740,986 $ 1,554,466 $ 1,983,387 1,144,447 521,680 1,583 125,920 150,548 $ 3,927,565 $ 8,585

40 -

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 Directors and its subsidiaries Others - FHSC		For the Three Months Ended September 30 2025 2024 $ 197,820 $ 212,363 243,811 248,432 101,072 107,134 65,750 119,305 $ 608,453 $ 687,234		For the Nine Months Ended September 30	For the Nine Months Ended September 30
		2025 $ 197,820 243,811 101,072 65,750 $ 608,453		2025 $ 599,780 662,789 381,968 290,774 $ 1,935,311	2024 $ 609,231 701,526 329,760 361,668 $ 2,002,185

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

	September 30,	September 30,	December 31,	December 31,	September 30,	September 30,
Related Parties Category		2025		2024		2024
Fellow subsidiaries - CSRC	$	908	$	-	$	-

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

e. Contract liabilities - current

	September 30,	December 31,	September 30,
Related Parties Category	2025	2024	2024
Directors and its subsidiaries	$ 2,468	$ 1,255	$ 1,340

f. Other material transactions with related parties

1) Operating lease Rental income Parent entity - CSC 2) Security expense Fellow subsidiary - CSSC	For the Three Months Ended September 30 2025 2024 $ 7,250 $ 7,248 12,432 11,940	For the Nine Months Ended September 30
		2025 2024 $ 21,751 $ 21,745 37,131 35,670 (Continued)

41 -

3) Outsourced manufacturing expense Subsidiary of director - NHCC 4) Charges for handling service and freight Fellow subsidiary CSEC USECC Subsidiary of director YL TTSC 5) Other professional service expense Director - ACC 6) Renewable energy expense Fellow subsidiary - CSC SOLAR	For the Three Months Ended September 30	For the Nine Months Ended September 30
	2025 2024 $ 30,475 $ 24,341 201,185 208,046 5,703 12,612 45,551 53,206 4,257 9,826 27,744 28,198 4,041 4,906	2025 2024 $ 100,895 $ 74,943 593,857 444,905 29,239 38,659 175,184 163,431 22,473 37,661 80,627 89,215 10,935 11,371 (Concluded)

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

g. Notes receivable - related parties and accounts receivable - related parties

	September 30,	September 30,	December 31,	December 31,	September 30,	September 30,
Related Parties Category/Names		2025		2024		2024
Parent entity - CSC	$	377,479	$	344,230	$	368,130
Fellow subsidiaries
DSC		201,542		209,504		285,495
Others		78,733		67,675		63,241
Directors and its subsidiaries
TCC		180,013		190,025		170,352
Others		100,132		90,970		96,553
Others related parties		8,305		23,912		17,451
	$	946,204	$	926,316	$	1,001,222

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

42 -

h. Other receivables - related parties

		September 30,	September 30,	December 31,	December 31,	September 30,	September 30,
	Related Parties Category/Name		2025		2024		2024
	Parent entity - CSC	$	33,193	$	38,053	$	35,441
	Fellow subsidiaries		-		1		-
		$	33,193	$	38,054	$	35,441
i.	Accounts payable - related parties
		September 30,		December 31,		September 30,
	Related Parties Category/Name		2025		2024		2024
	Parent entity - CSC	$	17,811	$	12,803	$	13,166
	Fellow subsidiaries		33,170		39,367		21,222
	Directors and its subsidiaries		42,489		50,989		35,289
		$	93,470	$	103,159	$	69,677

The outstanding accounts payable to related parties are unsecured.

j. Other payables - related parties

		September 30,	September 30,	December 31,	December 31,	September 30,	September 30,
	Related Parties Category/Name		2025		2024		2024
	Parent entity - CSC	$	4,168	$	3,338	$	2,535
	Fellow subsidiaries		95,880		107,168		101,900
	Directors and its subsidiaries		73,113		67,485		51,421
	Other related parties		725		606		366
		$	173,886	$	178,597	$	156,222
k.	Prepayments
		September 30,		December 31,		September 30,
	Related Parties Category/Names		2025		2024		2024
	Parent entity - CSC	$	1,328	$	1,328	$	1,769
	Fellow subsidiaries		19,645		-		3,679
	Other related parties - FHSC		8,072		22,365		14,344
		$	29,045	$	23,693	$	19,792

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l. Acquisition of property, plant and equipment

Purchase Price	Purchase Price	Purchase Price
For the Nine Months Ended September 30

	2025 $ 348 $ 1,778 12 409 $ 2,199	2024 $ 543 $ 1,200 95 436 $ 1,731

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 September 30 2025 2024 $ 10,622 $ 10,281 67 167 $ 10,689 $ 10,448		For the Nine Months Ended September 30	For the Nine Months Ended September 30
		2025 $ 10,622 67 $ 10,689		2025 $ 28,742 206 $ 28,948	2024 $ 28,515 498 $ 29,013

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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:

	September 30,	September 30,	December 31,	December 31,	September 30,	September 30,
		2025		2024		2024
Pledged time deposits (under other financial
assets)	$	17,828	$	11,102	$	11,102
Property, plant and equipment
Land		40,172		40,172		40,172
Buildings		194,917		224,793		226,853
Machinery and equipment		374,187		436,293		442,709
Right-of-use assets
Land		116,337		133,451		134,713
	$	743,441	$	845,811	$	855,549

31. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED COMMITMENTS

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

a. Unused letters of credit for importation of materials amounted to NT$421,574 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$808,609 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 Corporation 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 Corporation 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.

45 -

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:

					Carrying
					Amount
		Foreign		(In Thousands
		Currencies		of	New Taiwan
	(In Thousands)		Exchange Rate		Dollars)
September30,2025
Monetary financial assets
USD	$	1,425	30.445	$	43,399
Non-monetary assets
Financial assets at fair value through other
comprehensive income
CNY		4,165	4.271		17,788
Investments accounted for using the equity
method
VND		597,032,599	0.001135		677,632
Monetary financial liabilities
USD		429	30.445		13,049
December 31, 2024
Monetary financial assets
USD		1,871	32.785		61,339
JPY		22,244	0.2099		4,669
Non-monetary 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
September30,2024
Monetary financial assets
USD		1,220	31.65		38,607
					(Continued)

46 -

					Carrying
					Amount
		Foreign		(In Thousands
		Currencies		of	New Taiwan
	(In Thousands)		Exchange Rate		Dollars)
Non-monetary assets
Financial assets at fair value through other
comprehensive income
CNY	$	4,034	4.523	$	18,246
Investments accounted for using the equity
method
VND		566,233,202	0.001265		716,285
Monetary financial liabilities
USD		464	31.65		14,695
					(Concluded)

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
47 -
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. 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 For the nine months September30,2025 Revenue from external customers $ 5,897,478 Inter segment revenue 67,035 Segment revenue $ 5,964,513 Eliminations Consolidated revenue Segment income $ 1,311,148 Operating expense Share of profit of associates accounted for using the equity method Other non-operating gains and losses Profit before income tax	Resource Reutilization Division $ 4,345,205 17,145 $ 4,362,350 $ 248,497	Others $ 223,180 209,522 $ 432,702 $ 51,133	Total $ 10,465,863 293,702 10,759,565 (293,702) $ 10,465,863 $ 1,610,778 (400,655) 14,256 (5,173) $ 1,219,206

(Continued)

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Blast-Furnace Slag Cement Division For the nine months September30,2024 Revenue from external customers $ 5,332,234 Inter segment revenue 181,320 Segment revenue $ 5,513,554 Eliminations Consolidated revenue Segment income $ 1,178,727 Operating expense Share of profit of associates accounted for using the equity method Other non-operating gains and losses Profit before income tax	Resource Reutilization Division $ 4,099,158 16,926 $ 4,116,084 $ 216,598	Others $ 308,266 260,326 $ 568,592 $ 87,524	Total $ 9,739,658 458,572 10,198,230 (458,572) $ 9,739,658 $ 1,482,849 (384,872) 5,930 (9,363) $ 1,094,544 (Concluded)

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.

49 -

TABLE 1

CHC RESOURCES CORPORATION AND SUBSIDIARIES

MARKETABLE SECURITIES HELD SEPTEMBER 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		September 30, 2025	September 30, 2025	September 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		$ 201,795 $ 17,158 $ 8,223 $ 17,788	- 2 - 19	$ 201,795 $ 17,158 $ 8,223 $ 17,788

50 -

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 NINE MONTHS ENDED SEPTEMBER 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 CHC Resources Corporation CHC Resources Corporation Union Steel Development Corporation CHC Resources Vietnam Co., Ltd. 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 TCC Group Holdings Co., LTD. China Steel Corporation Dragon Steel Corporation Asia Cement Corporation Chung Hung Steel Corporation China Steel Express 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 Director of the Corporation Parent company Fellow subsidiary Director of the Corporation Fellow subsidiary Fellow subsidiary Parent company Other related party Other related party	Sales Sales Sales Service revenue Service revenue Service revenue Service revenue Purchases Purchases Purchases Purchases Purchases Service revenue Service revenue Purchases	$ (645,646 ) (423,776 ) (175,657 ) (2,240,087 ) (1,162,893 ) (535,328 ) (102,789 ) 599,780 247,856 156,055 142,856 105,058 (194,095 ) (148,624 ) 290,774	(7) (5) (2) (24) (12) (6) (1) 21 9 5 5 4 (65) (16) 92	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 Open account 60 days Letter of credit Letter of credit 45 days after B/L Letter of credit According to the shipping date, pay after shipment 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 Note Note Note Note	$ 180,013 72,098 10,123 372,753 197,540 68,593 180,013 (17,796 ) (8,255 ) (14,937 ) (13,388 ) - 35,017 8,305 -	14 5 1 28 15 5 14 (8) (4) (6) (6) - 72 19 -

Note: Refer to Note 29.

51 -

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 SEPTEMBER 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	$ 372,753 197,540 180,013	8 8 5	$ - 54,790 5,131	- Continuously received after period Expected to be received before the end of October	$ 21 80,846 -	$ - - -

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TABLE 4

CHC RESOURCES CORPORATION AND SUBSIDIARIES

INTERCOMPANY RELATIONSHIPS AND SIGNIFICANT INTERCOMPANY TRANSACTIONS FOR THE NINE MONTHS ENDED SEPTEMBER 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	$ 194,095	According to the contract	2

53 -

TABLE 5

CHC RESOURCES CORPORATION AND SUBSIDIARIES

INFORMATION ON INVESTEES FOR THE NINE MONTHS ENDED SEPTEMBER 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 September 30, 2025	of September 30, 2025	Net Income (Loss) of the Investee	Share of Profit (Loss)	Note
						Number of Shares	%	Carrying Amount
				September 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	$ 677,632 141,683 92,093 85,731 128,615 33,545 21,583 19,867 18,986 17,438 16,172 14,947 9,354	$ 81,574 2,500 17,350 4,903 94,318 19,127 211 (54,870 ) 1,601 2,461 3,337 1,319 10,011	$ 70,348 2,211 16,206 2,500 10,614 1,145 74 (909 ) 640 984 1,001 528 179	Subsidiary (Note 1) Subsidiary (Note 1) Subsidiary (Note 1) Subsidiary (Note 1) Note 2

Note 1: The amount was eliminated in the consolidated financial statements.

Note 2: The share of profit included amortization of the difference between equity and carrying amounts of the investment.

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TABLE 6

CHC RESOURCES CORPORATION AND SUBSIDIARIES

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

For the nine months ended September 30, 2025

Cost Balance at January 1, 2025 Additions Disposals Effects of foreign currency exchange differences Balance at September 30, 2025 Accumulated depreciationandimpairment Balance at January 1, 2025 Depreciation expense Disposals Effects of foreign currency exchange differences Balance at September 30, 2025 Carrying amount at December 31, 2024 Carrying amount at September 30, 2025 For the nine months ended September 30, 2024 Cost Balance at January 1, 2024 Additions Disposals Effects of foreign currency exchange differences Balance at September 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 - - (7,581) $ 216,872 $ 160,198 13,593 - (5,530) $ 168,261 $ 64,255 $ 48,611 Land Improvement $ 218,141 3,785 - 1,164 $ 223,090	Building Machinery and Equipment Transportation Equipment $ 2,850,572 $ 6,445,801 $ 18,645 30,176 182,584 1,646 (28,692) (86,581) (1,220) (26,245) (59,932) (184) $ 2,825,811 $ 6,481,872 $ 18,887 $ 1,299,903 $ 5,149,443 $ 18,146 73,905 193,817 497 (28,692) (86,462) (1,220) (3,651) (10,353) (130) $ 1,341,465 $ 5,246,445 $ 17,293 $ 1,550,669 $ 1,296,358 $ 499 $ 1,484,346 $ 1,235,427 $ 1,594 Building Machinery and Equipment Transportation Equipment $ 2,807,783 $ 6,313,806 $ 18,657 34,530 112,208 - - (16,430) - 4,037 9,043 29 $ 2,846,350 $ 6,418,627 $ 18,686	Office Equipment $ 71,043 3,982 (245) (664) $ 74,116 $ 50,189 5,856 (210) (452) $ 55,383 $ 20,854 $ 18,733 Office Equipment $ 68,663 859 - 93 $ 69,615	Leasehold Improvement $ 1,163,839 7,569 - - $ 1,171,408 $ 777,461 102,239 - - $ 879,700 $ 386,378 $ 291,708 Leasehold Improvement $ 1,137,468 1,953 - - $ 1,139,421	Other Equipment Property under Construction $ 360 $ 113,340 - 47,756 - - - - $ 360 $ 161,096 $ 360 $ - - - - - - - $ 360 $ - $ - $ 113,340 $ - $ 161,096 Other Equipment Property under Construction $ 360 $ 64,269 - 22,012 - - - - $ 360 $ 86,281	Total $ 12,024,321 273,713 (116,738) (94,606) $ 12,086,690 $ 7,462,070 389,907 (116,584) (20,116) $ 7,715,277 $ 4,562,251 $ 4,371,413 Total $ 11,765,415 175,347 (16,430) 14,366 $ 11,938,698

(Continued)

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Accumulated depreciationandimpairment Balance at January 1, 2024 Depreciation expense Disposals Impairment loss Effects of foreign currency exchange differences Balance at September 30, 2024 Carrying amount at September 30, 2024	Land $ 6,370 - - - - $ 6,370 $ 1,129,898	Land Improvement $ 140,062 14,760 - - 682 $ 155,504 $ 67,586	Building Machinery and Equipment Transportation Equipment $ 1,183,072 $ 4,886,883 $ 17,554 71,222 192,458 488 - (16,206) - 20,730 28,811 - 372 1,076 21 $ 1,275,396 $ 5,093,022 $ 18,063 $ 1,570,954 $ 1,325,605 $ 623	Office Equipment $ 41,587 6,466 - - 54 $ 48,107 $ 21,508	Leasehold Improvement $ 646,914 100,668 - - - $ 747,582 $ 391,839	Other Equipment Property under Construction $ 360 $ - - - - - - - - - $ 360 $ - $ - $ 86,281	Total $ 6,922,802 386,062 (16,206) 49,541 2,205 $ 7,344,404 $ 4,594,294 (Concluded)

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AI assistant

CHC — Interim / Quarterly Report 2025

52793_rns_2026-04-28_11f76b0b-4d9c-4373-82c7-15faa13234bc.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

4. SUMMARY OF MATERIAL ACCOUNTING POLICY INFORMATION

a. Statement of compliance

b. Basis of preparation

1) Carbon fee provision

2) Retirement benefits

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)

September 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

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

23. REVENUE

a. Contract balances

b. Assets related to contract costs

24. PROFIT BEFORE INCOME TAX

b. Other gains and losses

d. Depreciation and amortization

25. INCOME TAX

26. EARNINGS PER SHARE

Net profit for the period

27. CAPITAL MANAGEMENT

28. FINANCIAL INSTRUMENTS

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

1) Market risk

a) Foreign currency risk

Sensitivity analysis

b) Interest rate risk

c) Other price risk

2) Credit risk

3) Liquidity risk

September 30, 2024

29. TRANSACTIONS WITH RELATED PARTIES

a. Related party name and category

b. Operating revenue

c. Purchase of goods

h. Other receivables - related parties

CHC Interim / Quarterly Report 2025