CLEVO CO. — Audit Report / Information 2020

Nov 13, 2020

CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS AND

INDEPENDENT AUDITORS’ REPORT DECEMBER 31, 2020 AND 2019

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

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INDEPENDENT AUDITORS’ REPORT TRANSLATED FROM CHINESE

To the Board of Directors and Shareholders of Clevo Co.

PWCR20004947

Opinion

We have audited the accompanying consolidated balance sheets of Clevo Co. and its subsidiaries (the “Group”) as at December 31, 2020 and 2019, and the related consolidated statements of comprehensive income, of changes in equity and of cash flows for the years then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies.

In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at December 31, 2020 and 2019, and its consolidated financial performance and its consolidated cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations as endorsed by the Financial Supervisory Commission.

Basis for opinion

We conducted our audit of the consolidated financial statements as of and for the year ended December 31, 2020 in accordance with the Regulations Governing Auditing and Attestation of Financial Statements by Certified Public Accountants and generally accepted auditing standards in the Republic of China; and in accordance with the Regulations Governing Auditing and Attestation of Financial Statements by Certified Public Accountants, Rule No. Financial-Supervisory-Securities-Auditing1090360805 issued by the Financial Supervisory Commission on February 25, 2020 and generally accepted auditing standards in the Republic of China for our audit of the consolidated financial statements as of and for the year ended December 31, 2019. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the consolidated financial statements section of our report. We are independent of the Group in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

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Key audit matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Group’s 2020 consolidated financial statements. These matters were addressed in the context of our audit of the consolidated financial statements as a whole and, in forming our opinion thereon, we do not provide a separate opinion on these matters.

Key audit matters for the Group’s 2020 consolidated financial statements are stated as follows:

Valuation of investment properties

Description

Refer to Note 4(19) for accounting policies on investment properties, Note 5(2) for uncertainty of accounting estimates and assumptions in relation to the fair value measurement of investment properties, and Note 6(9) for details of investment properties. As at December 31, 2020, the Group’s investment properties at fair value amounted to NT$63,638,847 thousand.

The Group measures investment properties using the fair value model. The fair value measurement is based on income approach and the discounted cash flow by using estimated future rental income less essential costs, and obtaining the valuation report by appraiser as valuation basis in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers.

The discount rate and future rental income used as the basis of fair value measurement mentioned above involves future prediction, and the estimated result has a significant impact on fair value measurement. Therefore, we consider the valuation of investment properties as a key audit matter. How our audit addressed the matter

We performed the following audit procedures in respect of the above key audit matter:

1. Examined the analysis period and assumption methods used in the valuation report by the independent appraisers in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers.

2. Evaluated the reasonableness of rental earnings related to individual investment property, current market rents for similar comparable properties, rental growth rate and industry forecast reports.

3. Evaluated the reasonableness of discount rate used in valuation and capital costs caused by local property environment.

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Existence of booth rental revenue

Description

Refer to Note 4(34) for accounting policies on revenue recognition and Note 6(22) for details of operating revenue. As at December 31, 2020, the Group’s rental revenue amounted to NT$2,425,737 thousand.

One of the operating revenues of the Group is to earn booth rental income from holding investment properties. After customers sign the contracts, the Group allocates and recognises booth rental revenue based on the period of realisation of agreements.

The customers of booth rental revenue are merchants in the location of investment property, the customers are numerous and most contract periods are from 6 months to one year. The main customers are primarily engaged in the sales of 3C products and food service. In recent years, the growth of ecommerce in China has made an impact on the sales of bricks-and-mortar stores. Therefore, there is higher uncertainty of existence of rental revenue. Thus, we consider the existence of booth rental revenue as a key audit matter.

How our audit addressed the matter

We performed the following audit procedures in respect of the above key audit matter:

1. Ensured the reasonableness by validating and testing the appropriateness of internal controls over booth rental revenue, including inspecting the lease contracts and related supporting documents.

2. Verified existence of merchants by performing physical count of the booths.

3. Obtained the listings of booth rental revenue and confirmed the existence of booth rental revenue by sampling and inspecting the lease contracts and physical inventory lists.

Valuation of inventories

Description

Refer to Note 4(13) for accounting policy on the evaluation of inventories, Note 5(2) for uncertainty of accounting estimations and assumptions in relation to inventory valuation, and Note 6(4) for the details of inventory valuation. As at December 31, 2020, the balance of inventory and allowance for inventory valuation losses amounted to NT$3,913,537 thousand and NT$204,272 thousand, respectively.

The Group is primarily engaged in manufacturing and sales of notebook computers, construction in progress and buildings and land held for sale. Due to rapid technological innovations, short lifespan of electronic products and fluctuations in market prices, there is a higher risk of inventory losses due

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from market value decline or obsolescence. Additionally, most of construction in progress and buildings and land held for sale are located in second-tier or third-tier cities. The property cycle is mostly influenced by local policy and economic situation. Due to long inventory holding period, there is a higher risk for inventory losses due from market value decline.

The Group recognises inventories at the lower of cost and net realizable value, and the net realizable value is estimated based on the age and damage of inventory. The allowance for inventory valuation losses is provided for those inventories aged over a certain period of time and individually identified as obsolete or damaged. As the amounts of inventories are material, the types of inventories vary, and the estimation of net realizable value is subject to management’s judgment, we consider the allowance for inventory valuation losses a key audit matter.

How our audit addressed the matter

We performed the following procedures in respect of the above key audit matter:

1. Ensured consistent application of accounting policies in relation to allowance for inventory valuation losses and assessed the reasonableness of these policies.

2. Obtained the listings of lower of cost or net realizable value and obsolescence losses amount, sampled and inspected related supporting documents. Calculated the accuracy and assessed the reasonableness of the estimation of net realizable value.

3. Verified information obtained from physical inventory of notebook computers, and inquired with management and relevant staff if the inventory is identified as slow-moving, surplus, obsolete or damaged.

Other matter – Parent company only financial reports

We have audited and expressed an unqualified opinion on the parent company only financial statements of Clevo Co. as at and for the years ended December 31, 2020 and 2019.

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

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations as endorsed by the Financial Supervisory Commission, and for such internal control as management determines is necessary to enable the

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preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

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

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

Auditors’ responsibilities for the audit of the consolidated financial statements

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

As part of an audit in accordance with the generally accepted auditing standards in the Republic of China, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

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

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

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

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

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

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

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

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

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

Wu, Han-Chi[Liang, Hua-Ling ]

For and on behalf of PricewaterhouseCoopers, Taiwan March 26, 2021

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

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

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CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

DECEMBER 31, 2020 AND 2019

(Expressed in thousands of New Taiwan dollars)

ASSETS	Notes 6(1) 6(2) 6(1) 6(3) 6(3) and 7 6(4) and 8 6(11) 7 and 8 6(5) 6(6) and 8 6(7), 7 and 8 6(9) and 8 6(10) 6(29) 8	December31,2020 AMOUNT % $ 4,918,051 5 1,609,467 2 1,836,833 2 2,248,910 2 - - 272 - 3,709,265 4 - - 935,809 1 15,258,607 16 25,836 - 3,448,208 4 4,711,606 5 4,527,645 5 63,638,847 67 30,705 - 612,834 1 2,011,934 2 79,007,615 84 $ 94,266,222 100	December31,2019	December31,2019
		AMOUNT $ 4,918,051 1,609,467 1,836,833 2,248,910 - 272 3,709,265 - 935,809 15,258,607 25,836 3,448,208 4,711,606 4,527,645 63,638,847 30,705 612,834 2,011,934 79,007,615 $ 94,266,222	AMOUNT $ 8,047,784 1,022,194 1,670,772 1,996,971 1,022 272 4,163,768 3,786,016 920,049 21,608,848 23,517 3,430,464 5,822,337 4,465,980 63,013,015 29,926 181,794 1,810,854 78,777,887 $ 100,386,735	%
Current assets 1100 Cash and cash equivalents 1110 Financial assets at fair value through profit or loss - current 1136 Financial assets at amortised cost - current 1170 Accounts receivable, net 1180 Accounts receivable due from related parties, net 1220 Current income tax assets 130X Inventories 1460 Non-current assets or disposal groups classified as held for sale, net 1470 Other current assets 11XX Total current assets Non-current assets 1535 Financial assets at amortised cost - non-current 1550 Investments accounted for using equity method, net 1600 Property, plant and equipment 1755 Right-of-use assets 1760 Investment property, net 1780 Intangible assets 1840 Deferred income tax assets 1990 Other non-current assets 15XX Total non-current assets 1XXX Total assets				8 1 2 2 - - 4 4 1
				22
				- 3 6 4 63 - - 2
				78
				100

(Continued)

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CLEVO CO. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2020 AND 2019

(Expressed in thousands of New Taiwan dollars)

LIABILITIES AND EQUITY

December31,2020 December31,2019 Notes AMOUNT % AMOUNT % 6(12) $ 6,856,140 7 $ 9,228,429 9 6(2) 15,781 - 1,008 - 6(22) 179,636 - 574,301 1 12,094 - 12,851 - 1,855,455 2 1,580,846 2 7 242,174 - 318,091 - 7 1,324,323 2 2,211,793 2 6(29) 189,550 - 25,387 - 6(17) 53,523 - 50,523 - 7 15,963 - 13,555 - 6(15) 6,594,537 7 4,946,751 5 6(13) and 7 476,156 1 2,037,032 2 17,815,332 19 21,000,567 21 6(14) 5,000,000 6 5,000,000 5 6(15) 18,096,378 19 21,209,345 21 6(29) 12,208,609 13 12,074,682 12 7 96,305 - 52,348 - 6(5)(16) and 7 1,170,460 1 1,254,532 1 36,571,752 39 39,590,907 39 54,387,084 58 60,591,474 60 6(18) 6,697,630 7 6,697,630 7 6(19) 95,864 - 333,951 - 6(20) 1,831,206 2 1,724,342 2 36,717,272 39 36,131,662 36 1,118,868 1 1,100,739 1 6(21) ( 4,928,011 ) ( 5) ( 4,836,021 ) ( 5 ) 6(18) ( 1,653,691 ) ( 2) ( 1,357,042 ) ( 1 ) 39,879,138 42 39,795,261 40 39,879,138 42 39,795,261 40 9 $ 94,266,222 100 $ 100,386,735 100

Current liabilities 2100 Short-term borrowings 2120 Financial liabilities at fair value through profit or loss - current 2130 Contract liabilities - current 2150 Notes payable 2170 Accounts payable 2180 Accounts payable - related parties 2200 Other payables 2230 Current income tax liabilities 2250 Provisions for liabilities - current 2280 Lease liabilities - current 2320 Long-term liabilities, current portion 2399 Other current liabilities 21XX Total current liabilities Non-current liabilities 2530 Corporate bonds payable 2540 Long-term borrowings 2570 Deferred income tax liabilities 2580 Lease liabilities - non-current 2670 Other non-current liabilities 25XX Total non-current liabilities 2XXX Total liabilities Equity attributable to owners of parent Share capital 3110 Ordinary share Capital surplus 3200 Capital surplus Retained earnings 3310 Legal reserve 3320 Special reserve 3350 Unappropriated retained earnings Other equity interest 3400 Other equity interest 3500 Treasury shares 31XX Total equity attributable to owners of parent 3XXX Total equity Significant contingent liabilities and unrecognised contract commitment 3X2X TOTAL LIABILITIES AND EQUITY

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

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CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2020 AND 2019

(Expressed in thousands of New Taiwan dollars, except for earnings per share amounts)

Items

Year ended December 31 2020 2019 Notes AMOUNT % AMOUNT % 6(22) and 7 $ 20,238,946 100 $ 21,900,662 100 6(4)(27)(28) and 7 ( 15,882,827) ( 79)( 16,849,737) ( 77) 4,356,119 21 5,050,925 23 6(27)(28) ( 1,095,907 ) ( 5) ( 1,822,221) ( 8 ) ( 1,234,436 ) ( 6) ( 1,788,169) ( 8 ) ( 547,461 ) ( 3) ( 561,398) ( 3 ) 12(3) ( 2,132) - 5,026 - ( 2,879,936) ( 14)( 4,166,762) ( 19) 1,476,183 7 884,163 4 6(23) 67,743 - 201,550 1 6(24) 248,817 1 370,721 2 6(25) and 7 ( 229,855 ) ( 1) 1,242,244 5 6(26) and 7 ( 908,631 ) ( 4) ( 1,105,904) ( 5 ) 6(5) 41,948 - 166,858 1 ( 779,978) ( 4) 875,469 4 696,205 3 1,759,632 8 6(29) ( 29,261) - ( 685,768) ( 3) $ 666,944 3 $ 1,073,864 5

4000 Sales revenue 5000 Operating costs 5900 Net operating margin Operating expenses 6100 Selling expenses 6200 General and administrative expenses 6300 Research and development expenses 6450 Impairment gain and reversal of impairment loss determined in accordance with IFRS 9 6000 Total operating expenses 6900 Operating profit Non-operating income and expenses 7100 Interest income 7010 Other income 7020 Other gains and losses 7050 Finance costs 7060 Share of profit of associates and joint ventures accounted for using equity method 7000 Total non-operating revenue and expenses 7900 Profit before income tax 7950 Income tax expense 8200 Profit for the year

(Continued)

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CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2020 AND 2019

(Expressed in thousands of New Taiwan dollars, except for earnings per share amounts)

Items

Year ended December 31 2020 2019 Notes AMOUNT % AMOUNT % 6(16) $ 54,574 - $ 4,189 - 6(29) ( 10,915 ) - ( 838) - 43,659 - 3,351 - 6(21) ( 91,391 ) - ( 2,046,091) ( 9 ) 6(21) ( 748 ) - ( 90,518) ( 1 ) 6(21)(29) 149 - 34,476 - ( 91,990 ) - ( 2,102,133) ( 10 ) ($ 48,331 ) - ( $ 2,098,782) ( 10 ) $ 618,613 3 ( $ 1,024,918) ( 5) $ 666,944 3 $ 1,068,639 5 $ - - $ 5,225 - $ 618,613 3 ( $ 1,043,348) ( 5 ) $ - - $ 18,430 - $ 1.12 $ 1.75 $ 1.11 $ 1.74

Other comprehensive income 8311 Gain on remeasurements on defined benefit plans 8349 Income tax related to components of other comprehensive income that will not be reclassified to profit or loss 8310 Other comprehensive income that will not be reclassified to profit or loss Components of other comprehensive income that will be reclassified to profit or loss 8361 Financial statements translation differences of foreign operations 8370 Share of other comprehensive loss of associates and joint ventures accounted for using equity method 8399 Income tax related to the components of other comprehensive income 8360 Other comprehensive loss that will be reclassified to profit or loss 8300 Total other comprehensive loss for the year 8500 Total comprehensive income (loss) for the year Profit attributable to: 8610 Owners of the parent 8620 Non-controlling interest Comprehensive income (loss) attributable to: 8710 Owners of the parent 8720 Non-controlling interest 9750 Basic earnings per share 9850 Diluted earnings per share

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

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CLEVO CO. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2020 AND 2019

(Expressed in thousands of New Taiwan dollars)

Year ended December 31, 2019 Balance at January 1, 2019 Profit for the year Other comprehensive income (loss) for the year Total comprehensive income (loss) for the year Appropriations of 2018 earings Legal reserve Special reserve Cash dividends Capital dividends Treasury stock acquired Treasury stock retired Adjustment to capital surplus arising from dividends paid to subsidiaries Change in non-controlling interests Balance at December 31, 2019 Year ended December 31, 2020 Balance at January 1, 2020 Profit for the year Other comprehensive income (loss) for the year Total comprehensive income (loss) for the year Appropriations of 2019 earings Legal reserve Special reserve Capital dividends Treasury stock acquired Adjustment to capital surplus arising from dividends paid to subsidiaries Reversal of special reserve Balance at December 31, 2020	Notes 6(21) 6(20) 6(20) 6(31) 6(18) 6(21) 6(20) 6(20) 6(31)				Equityattributable to	Equityattributable to	owners of theparent				Total	Non-controlling interest $ 17,288 5,225 13,205 18,430 - - - - - - - ( 35,718 ) $ - $ - - - - - - - - - - $ -	Total equity
		Ordinaryshare	Capital R	eserves Capital surplus, treasury share transactions		Retained Earnings	Unappropriated retained earnings	Other equityinterest		Treasuryshares
			Total capital surplus, additional paid-in capital $ 832,968 - - - - - - ( 513,810 ) - ( 12,254 ) - - $ 306,904 $ 306,904 - - - - - ( 248,906 ) - - - $ 57,998		Legal reserve $ 1,578,852 - - - 145,490 - - - - - - - $ 1,724,342 $ 1,724,342 - - - 106,864 - - - - - $ 1,831,206	Special reserve		Exchange differences on translation of foreign financial statements	Asset revaluation increment
		$ 6,797,630 - - - - - - - - ( 100,000) - - $ 6,697,630 $ 6,697,630 - - - - - - - - - $ 6,697,630		$ 149,571 - - - - - - - - ( 149,571 ) 27,047 - $ 27,047 $ 27,047 - - - - - - - 10,819 - $ 37,866		$ 34,937,216 - - - - 1,194,446 - - - - - - $ 36,131,662 $ 36,131,662 - - - - 993,875 - - - ( 408,265 ) $ 36,717,272	$ 1,547,516 1,068,639 3,351 1,071,990 ( 145,490 ) ( 1,194,446 ) ( 128,453 ) - - ( 50,378 ) - - $ 1,100,739 $ 1,100,739 666,944 43,659 710,603 ( 106,864 ) ( 993,875 ) - - - 408,265 $ 1,118,868	( $ 2,741,605) - ( 2,115,338) ( 2,115,338) - - - - - - - - ( $ 4,856,943) ( $ 4,856,943) - ( 91,990) ( 91,990) - - - - - - ( $ 4,948,933)	$ 20,922 - - - - - - - - - - - $ 20,922 $ 20,922 - - - - - - - - - $ 20,922	( $ 1,283,228 ) - - - - - - - ( 386,017 ) 312,203 - - ( $ 1,357,042 ) ( $ 1,357,042 ) - - - - - - ( 296,649 ) - - ( $ 1,653,691 )	$ 41,839,842 1,068,639 ( 2,111,987 ) ( 1,043,348 ) - - ( 128,453 ) ( 513,810 ) ( 386,017 ) - 27,047 - $ 39,795,261 $ 39,795,261 666,944 ( 48,331 ) 618,613 - - ( 248,906 ) ( 296,649 ) 10,819 - $ 39,879,138		$ 41,857,130 1,073,864 ( 2,098,782 ) ( 1,024,918 ) - - ( 128,453 ) ( 513,810 ) ( 386,017 ) - 27,047 ( 35,718 ) $ 39,795,261 $ 39,795,261 666,944 ( 48,331 ) 618,613 - - ( 248,906 ) ( 296,649 ) 10,819 - $ 39,879,138

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

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CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2020 AND 2019

(Expressed in thousands of New Taiwan dollars)

CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax Adjustments Adjustments to reconcile profit (loss) Depreciation Amortisation Expected credit loss (gain) Net gain on financial assets (liabilities) mandatorily measured at fair value through profit or loss Interest expense Interest income Dividend income Share of profit of associates and joint ventures accounted for using the equity method Gain of disposal of property, plant and equitment Loss (gain) on disposal of investment property Loss (gain) on disposal of investments Loss (gain) on adjustment of investment properties at fair value Impairment loss on non-current asset held for sale Changes in operating assets and liabilities Changes in operating assets Financial assets measured at fair value through profit or loss Accounts receivable, net Inventories Capitalisation of interest (inventories) Other current assets Changes in operating liabilities Contract liabilities Note payable Accounts payable Accounts payable - related parties Other payables Provisions for liabilities - current Other current liabilities Other non-current liabilities Cash inflow generated from operations Interest received Dividends received Interest paid Income taxes paid Net cash flows from operating activities

YearendedDecember31 Notes 2020 2019 $ 696,205 $ 1,759,632 6(6)(7)(27) 290,236 291,355 6(10)(27) 11,612 9,073 12(2) 2,132 ( 5,025 ) 6(25) ( 271,284 ) ( 377,049 ) 6(26) 908,631 1,105,904 6(23) ( 67,743 ) ( 201,550 ) 6(24) ( 30,435 ) ( 26,052 ) 6(5) ( 41,948 ) ( 166,858 ) 6(25) ( 103 ) ( 5,280 ) 6(25) 4,252 ( 463,078 ) 6(25) 95,088 ( 311,286 ) 6(9)(25) 55,918 ( 764,734 ) 6(11) 54,627 160,539 ( 430,266 ) 978,899 ( 252,693 ) ( 364,099 ) 345,587 1,184,684 6(4) ( 31,917 ) ( 71,224 ) 180,000 287,114 ( 11,247 ) 99,173 ( 757 ) ( 2,284 ) 274,609 ( 9,569 ) ( 75,917 ) 55,862 20,958 96,324 3,000 - ( 102,996 ) ( 60,720 ) 30,544 ( 111,240 ) 1,656,093 3,088,511 72,659 206,879 30,435 26,052 ( 925,024 ) ( 1,116,558 ) ( 154,341 ) ( 802,052 ) 679,822 1,402,832

(Continued)

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CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2020 AND 2019

(Expressed in thousands of New Taiwan dollars)

CASH FLOWS FROM INVESTING ACTIVITIES Disposal of subsidiaries Acquisition of property, plant and equipment Proceeds from disposal of property, plant and equipment Acquisition of intangible assets Acquisition of investment properties Proceeds from disposal of investment properties Proceeds from disposal of non-current assets classified as held for sale Acquisition of investments accounted for using equity method Interest paid (capitalisation of interest) (Increase) decrease in financial assets at amortised cost - current (Increase) decrease in financial assets at amortised cost - non- current Decrease in refundable deposits (Increase) decrease in other non-current assets Net cash flows from investing activities CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from short-term borrowings Repayments of short-term borrowings (Decrease) increase in other payables - related parties Proceeds from issuing bonds Repayments of bonds Proceeds from long-term borrowings Repayments of long-term borrowings Decrease in guarantee deposit Cash dividends paid Acquisition of treasury stock Payments of lease liabilities Change in non-controlling interests Increase in other financial liabilities - current Net cash flows used in financing activities Changes in exchange rates Net (decrease) increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year

YearendedDecember31 Notes 2020 2019 6(31) $ - $ 961,772 6(31) ( 378,857 ) ( 620,086 ) 6(31) 22,664 133,696 6(10) ( 12,461 ) ( 18,830 ) 6(31) ( 129,543 ) ( 329,092 ) 6(9) 12,667 4,066,394 6(31) 2,201,760 1,458,310 - ( 1,000,000 ) 6(9) ( 151,641 ) ( 246,306 ) ( 166,061 ) 3,078,996 ( 2,319 ) 92,333 16,227 47,549 ( 315,745 ) 19,377 1,096,691 7,644,113 81,050,167 70,491,330 ( 83,419,869 ) ( 69,461,113 ) ( 215,650 ) 215,650 - 5,000,000 ( 200,000 ) ( 4,800,000 ) 25,350,858 26,814,012 ( 26,795,824 ) ( 34,899,061 ) ( 13,012 ) ( 1,191,970 ) 6(20) ( 248,906 ) ( 642,263 ) 6(31) ( 296,649 ) ( 403,475 ) 6(32) ( 14,017 ) ( 7,614 ) - ( 22,742 ) - ( 6,728 ) ( 4,802,902 ) ( 8,913,974 ) ( 103,344 ) 118,270 ( 3,129,733 ) 251,241 8,047,784 7,796,543 $ 4,918,051 $ 8,047,784

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

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CLEVO CO. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

YEARS ENDED DECEMBER 31, 2020 AND 2019

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

1. HISTORY AND ORGANISATION

Clevo Co. (the “Company”) was incorporated as a company limited by shares under the provisions of the Company Act of the Republic of China (R.O.C.). The Company and its subsidiaries (collectively referred herein as the “Group”) are primarily engaged in the design, manufacture and sales of VDUs, computers and peripheral devices, and the leasing business of Buynow.

1. THE DATE OF AUTHORISATION FOR ISSUANCE OF THE CONSOLIDATED FINANCIAL

STATEMENTS AND PROCEDURES FOR AUTHORISATION

These consolidated financial statements were authorized for issuance by the Board of Directors on March 26, 2021.

3. APPLICATION OF NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS

• (1) Effect of the adoption of new issuances of or amendments to International Financial Reporting Standards (“IFRS”) as endorsed by the Financial Supervisory Commission (“FSC”)

New standards, interpretations and amendments endorsed by the FSC effective from 2020 are as follows:

follows:
	Effective date by
	International Accounting
New Standards,Interpretations andAmendments	Standards Board
Amendments to IAS 1 and IAS 8, ‘Disclosure Initiative-Definition of	January 1, 2020
Material’
Amendments to IFRS 3, ‘Definition of a business’	January 1, 2020
Amendments to IFRS 9, IAS 39 and IFRS 7, ‘Interest rate benchmark	January 1, 2020
reform’
Amendment to IFRS 16, ‘Covid-19-related rent concessions’	June 1, 2020 (Note)

Note: Earlier application from January 1, 2020 is allowed by the FSC.

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

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(2) Effect of new issuances of or amendments to IFRSs as endorsed by the FSC but not yet adopted by

the Group

New standards, interpretations and amendments endorsed by the FSC effective from 2021 are as follows:

follows:
	Effective date by
	International Accounting
New Standards, Interpretations and Amendments	Standards Board
Amendments to IFRS 4, ‘Extension of the temporary exemption from	January 1, 2021
applying IFRS 9’
Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, ‘	January 1, 2021
Interest Rate Benchmark Reform - Phase 2’

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

(3) IFRSs issued by IASB but not yet endorsed by the FSC

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

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Effective date by
International Accounting
New Standards, Interpretations and Amendments Standards Board
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endorsed by the FSC are as follows: New Standards, Interpretations and Amendments	Effective date by International Accounting StandardsBoard
Amendments to IFRS 3, ‘Reference to the conceptual framework’	January 1, 2022
Amendments to IFRS 10 and IAS 28, ‘Sale or contribution of assets between an investor and its associate or joint venture’	To be determined by International Accounting Standards Board
IFRS 17, ‘Insurance contracts’	January 1, 2023
Amendments to IFRS 17, ‘Insurance contracts’	January 1, 2023
Amendments to IAS 1, ‘Classification of liabilities as current or non-	January 1, 2023
current’
Amendments to IAS 1, ‘Disclosure of accounting policies’	January 1, 2023
Amendments to IAS 8, ‘Definition of accounting estimates’	January 1, 2023
Amendments to IAS 16, ‘Property, plant and equipment: proceeds	January 1, 2022
before intended use’
Amendments to IAS 37, ‘Onerous contracts - cost of fulfilling a	January 1, 2022
contract’
Annual improvements to IFRSs 2018-2020 cycle	January 1, 2022

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

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4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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

(1) Compliance statement

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

• (2) Basis of preparation

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

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

  • (b) Investment property measured at fair value.

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

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

(3) Basis of consolidation

• A. Basis for preparation of consolidated financial statements:

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

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

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

• (d) Changes in a parent’s ownership interest in a subsidiary that do not result in the parent losing control of the subsidiary (transactions with non-controlling interests) are accounted for as equity transactions, i.e. transactions with owners in their capacity as owners. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognised directly in equity.

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

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B. Subsidiaries included in the consolidated financial statements:

Name of investor	Name of subsidiary	Main business activities	December 31,2020 December 31,2019 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 Ownership (%)	Description
			December 31,2020
The Company The Company The Company The Company The Company The Company Clevo (Cayman Islands) Holding Company Clevo (Cayman Islands) Holding Company	Clevo Computer Singapore Pte Ltd. Clevo (Cayman Islands) Holding Company Kapok Computer (Samoa) Corporation Kapok Computer Co., Ltd. Clevo Investment Co., Ltd. Buynow On-line Holding Corporation Buynow Global Corporation Buynow (Hangzhou) Corporatioon	Management and advisory of computers Investing Investing Design and sale of computers and computer peripherals Investing Investing Investing Investing	100 100 100 100 100 100 100 100

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
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investor	subsidiary	activities	31, 2020	31, 2019 Description
Clevo (Cayman	Buynow	Investing	100	100
Islands) Holding	(Zhengzhou)
Company	Corporation
Clevo (Cayman	Buynow Group	Investing	100	100
Islands) Holding	(Changsha)
Company	Corporation
Clevo (Cayman	Buynow	Investing	100	100
Islands) Holding	(Nanchang)
Company	Corporation
Clevo (Cayman	Buynow	Investing	100	100
Islands) Holding	(Guangzhou)
Company	Corporation
Clevo (Cayman	Flying Wolf	Investing	100	100
Islands) Holding	Investment
Company	Limited
Clevo (Cayman	Buynow (Xiamen)	Investing	100	100
Islands) Holding	Corporation
Company
Clevo (Cayman	Buynow Group	Investing	100	100
Islands) Holding	(Xian)
Company	Corporation
Clevo (Cayman	Buynow	Investing	100	100
Islands) Holding	(Changchun)
Company	Corporation

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019 Description
Clevo (Cayman	Buynow Group	Investing	100	100
Islands) Holding	(Qingdao)
Company	Corporation
Clevo (Cayman	Buynow (Wuxi)	Investing	100	100
Islands) Holding	Corporation
Company
Clevo (Cayman	Buynow (Harbin)	Investing	100	100
Islands) Holding	Corporation
Company
Clevo (Cayman	Flying	Investing	100	100
Islands) Holding	International
Company	Investment
	Limited
Clevo (Cayman	Buynow	Investing	100	100
Islands) Holding	(Chongqing)
Company	Limited
Clevo (Cayman	Buynow (Daqing)	Investing	100	100
Islands) Holding	Corporation
Company
Clevo (Cayman	Buynow (Zibo)	Investing	100	100
Islands) Holding	Corporation
Company
Clevo (Cayman	Buynow (Beijing)	Investing	100	100
Islands) Holding	Corporation
Company
Clevo (Cayman	Buynow	Investing	100	100
Islands) Holding	(Yancheng)
Company	Corporation
Clevo (Cayman	Skill Develop	Investing	100	100
Islands) Holding	International
Company	Limited

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019 Description
Clevo (Cayman	Buynow	Investing	100	100
Islands) Holding	(Yingkou)
Company	Corporation
Clevo (Cayman	Buynow (Anshan)	Investing	100	100
Islands) Holding	Corporation
Company
Clevo (Cayman	Buynow	Investing	100	100
Islands) Holding	(Huizhou)
Company	Corporation
Clevo (Cayman	Buynow	Investing	100	100
Islands) Holding	(Guiyang)
Company	Corporation
Clevo (Cayman	Buynow	Investing	100	100
Islands) Holding	(Taizhou)
Company	Corporation
Clevo (Cayman	Buynow (Dezhou)	Investing	100	100
Islands) Holding	Corporation
Company
Clevo (Cayman	Buynow	Investing	100	100
Islands) Holding	(Luoyang)
Company	Corporation
Clevo (Cayman	Smarter Capital	Investing	100	100
Islands) Holding	Limited
Company

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019	Description
Clevo (Cayman	Buynow (Fujian	Investing	100	100
Islands) Holding	Quanzhou)
Company	Corporation
Clevo (Cayman	Buynow (Jinzhou)	Investing	100	100
Islands) Holding	Corporation
Company
Clevo (Cayman	Clevo (China)	Investing in	100	100
Islands) Holding	Investment Co.,	companies, setting
Company	Ltd.	up R&D
		department and
		consultation
		service
Clevo (Cayman	Buynow	Investing	100	100
Islands) Holding	(Shantou)
Company	Corporation
Clevo (Cayman	Clevo (HK)	Investing	100	100
Islands) Holding	Investment
Company	Holding Limited
Clevo (HK)	Clevo Japan GK	Investing	-	100	(Note 3)
Investment
Holding Limited
Buynow	Buynow	Investing	100	100
On-line Holding	On-line Limited
Corporation
Skill Develop	Well Asia	Investing	100	100
International	Investment
Limited	Limited
Clevo Computer	Buynow	Investing	100	100
Singapore Pte	(Chengdu)
Ltd.	Corporation

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019	Description
Clevo Computer	Buynow	Manufacturing,	100	100
Singapore Pte	(Nanjing) Facility	sale, research and
Ltd.	Leasing and	development
	Management Co.,	of computers and
	Ltd.	computer
		peripherals and
		services for related
		electronics
		products
Clevo Computer	Kalor Buynow	Manufacturing,	100	100
Singapore Pte	(Heifei) Electronic	sale, research and
Ltd.	Information Co.,	development
	Ltd.	of computers and
		computer
		peripherals and
		services for related
		electronics
		products
Clevo Computer	Qingdao Buynow	Manufacturing,	8.82	8.82	(Note 1)
Singapore Pte	Technology	sale, research and
Ltd.	Industry Co., Ltd.	development
		of computers and
		computer
		peripherals;
		Display, advisory
		and after-sales
		service of digital
		products; Property
		management of
		self-owned
		buildings

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019	Description
Buynow Group	Qingdao Buynow	Manufacturing,	20.59	20.59	(Note 1)
(Qingdao)	Technology	sale, research and
Corporation	Industry Co., Ltd.	development
		of computers and
		computer
		peripherals;
		Display, advisory
		and after-sales
		service of digital
		products; Property
		management of
		self-owned
		buildings
Kapok	Kapok Computer	Manufacturing,	100	100
Computer	(Kunshan) Co.,	sale, research and
(Samoa)	Ltd.	development and
Corporation		maintenance
		service
		of computers,
		notebooks, tablets,
		information and
		communication
		products and
		computer
		components
Buynow Global	Shanghai Buynow	Rental of	21.21	21.21	(Note 1)
Corporation	Electronic	exhibition,
	Information Co.,	advisory,
	Ltd.	maintenance
		service and
		property
		management of
		computer and
		related electronics
		products

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019 Description
Buynow Global	Quality Trust	Property	100	100
Corporation	Property	management,
	Management Co.,	advisory of real
	Ltd.	estate, building
		leasing,
		housekeeping
		service, parking
		lot service, car
		wash service and
		business service
Buynow Global	Kunshan Kaishuo	Mechanical	100	100
Corporation	Trading Co., Ltd.	equipment and
		accessories, wire
		and cable, air
		conditioning
		equipment,
		building and
		decoration
		material, lighting
		equipment,
		Kitchen appliance,
		water cleaner,
		pipeline and
		accessories, fire
		safety equipment,
		compressor and
		accessories,
		wholesale of
		elevators and
		appliances, import
		and export and
		advisory services
Buynow	Buynow	Manufacturing,	100	100
(Hangzhou)	(Hangzhou)	sale, research and
Corporation	Electronic	development and
	Information Co.,	after-sales service
	Ltd.	of computers and
		computer
		peripherals;
		Property
		management of
		buildings

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019 Description
Buynow Group	Buynow (Xian)	Manufacturing,	100	100
(Xian)	Industry Co., Ltd.	sale, maintenance
Corporation		service, research
		and development
		of computers and
		computer
		peripherals and
		digital products
Buynow Group	Buynow	Manufacturing,	100	100
(Changsha)	(Changsha)	sale, research and
Corporation	Industry Co., Ltd.	development and
		after-sales services
		of computers and
		computer
		peripherals;
		Property
		management of
		buildings
Buynow	Buynow	Manufacturing,	100	100
(Zhengzhou)	(Zhengzhou)	sale, maintenance
Corporation	Electronic	service, research
	Information Co.,	and development
	Ltd.	of computers and
		computer
		peripherals and
		digital products
Buynow	Buynow	Manufacturing,	100	100
(Nanchang)	(Nanchang)	sale, research and
Corporation	Industry Co., Ltd.	development and
		after-sales services
		of computers and
		computer
		peripherals
		Property
		management of
		buildings

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

Name of investor	Name of subsidiary	Main business activities	December 31, 2020	December 31, 2019	Description
Buynow	Buynow	Manufacturing,	100	100
(Guangzhou)	Electronic	sale, maintenance
Corporation	Information	service, research
	(Guangzhou) Co.,	and development
	Ltd.	of computers and
		computer
		peripherals and
		digital products
Buynow	Buynow (Fujian)	Manufacturing,	100	100
(Xiamen)	Electronic	sale, maintenance
Corporation	Technology	service, research
	Development Co.,	and development
	Ltd.	of computers and
		computer
		peripherals and
		digital products
Buynow	Buynow	Manufacturing,	95.24	95.24	(Note 1)
(Changchun)	(Changchun)	sale, maintenance
Corporation	Industry Co., Ltd.	service, research
		and development
		of computers and
		computer
		peripherals;
		Property
		management of
		buildings
Flying Wolf	Buynow	Manufacturing,	4.76	4.76	(Note 1)
Investment	(Changchun)	sale, maintenance
Limited	Industry Co., Ltd.	service, research
		and development
		of computers and
		computer
		peripherals;
		Property
		management of
		buildings

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

Name of investor	Name of subsidiary	Main business activities	December 31, 2020	December 31, 2019	Description
Flying Wolf	Buynow	Research and	100	100
Investment	Electronic	development of
Limited	Information	computers and
	(Shenyang) Co.,	computer
	Ltd.	peripherals and
		electronic
		products;
		Advisory services
		of economic
		information
Flying Wolf	Buynow (Wuxi)	Manufacturing,	28.57	28.57	(Note 1)
Investment	Electronic	sale, maintenance
Limited	Technology	service, research
	Development Co.,	and development
	Ltd.	of computer
		software and
		digital products
Buynow (Wuxi)	Buynow (Wuxi)	Manufacturing,	71.43	71.43	(Note 1)
Corporation	Electronic	sale, maintenance
	Technology	service, research
	Development Co.,	and development
	Ltd.	of computer
		software and
		digital products
Buynow	Buynow (Harbin)	Manufacturing,	100	100
(Harbin)	Industry Co., Ltd.	sale, maintenance
Corporation		service, research
		and development
		of computers and
		computer
		peripherals and
		digital products

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019 Description
Buynow	Buynow	Manufacturing,	100	100
(Chengdu)	(Chengdu)	sale, maintenance
Corporation	Electronic	service, research
	Information Co.,	and development
	Ltd.	of computers and
		computer
		peripherals;
		Property
		management of
		buildings
Flying	Tianjin Buynow	Manufacturing,	100	100
International	Electronic	sale, research and
Investment	Information Co.,	development of
Limited	Ltd.	computers and
		computer
		peripherals and
		digital products
Buynow	Buynow	Manufacturing,	100	100
(Chongqing)	(Chongqing)	sale, research and
Limited	Industry Co., Ltd.	development of
		computers and
		computer
		peripherals (not
		including
		electronic
		publishing),
		shopping mall
		management,
		wholesale and
		retail of electronic
		products, property
		management and
		parking lot service

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Ownership (%)

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Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019 Description
Buynow On-line	Shanghai Buynow	Wholesale and	100	100
Limited	Online	retail, import and
	Information	export, and after-
	Technology Co.,	sales service of
	Ltd.	household
		appliances,
		computer and
		computer
		components,
		communication
		equipment,
		electrical devices,
		office supplies and
		complementary
		products;
		Development,
		technology
		transfer, advisory,
		service and
		training for
		internet, computer
		software and
		hardware and
		communication
		equipment
Buynow	Daqing Buynow	Manufacturing,	100	100
(Daqing)	Electronic	retail and
Corporation	Information Co.,	wholesale of
	Ltd.	computers and
		computer
		peripherals;
		Electronic
		information
		shopping mall
		management

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019	Description
Well Asia	Guangdong	Self-owned	65	65	(Note 1)
Investment	Buynow Real	property
Limited	Estate	management and
	Management Co.,	leasing;
	Ltd.	Manufacturing,
		research and
		development of
		computer software
		and hardware and
		digital products
Buynow (Zibo)	Zibo Buynow	Manufacturing,	100	100
Corporation	Electronic	sale, maintenance
	Information Co.,	service, research
	Ltd.	and development
		of computers and
		computer
		peripherals and
		digital products;
		Advisory services
		for business
		management;
		Leasing of self-
		owned buildings,
		parking lot
		management,
		shopping mall
		management and
		property
		management
Buynow	Beijing Clevo	Business advisory	76	76	(Note 1)
(Beijing)	Investment	of investment
Corporation	Management	management,
	Consultant Co.,	wholesale agency
	Ltd.	of electronic
		products, import
		and export of
		goods and
		property
		management

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019	Description
Buynow	Buynow	Manufacturing,	100	100
(Yancheng)	(Yancheng)	maintenance
Corporation	Electronic	service, research
	Information	and development
	Technology	of computers and
	Development Co.	computer
	Ltd.	peripherals and
		digital products,
		and advisory of
		business
		management
Buynow	Buynow	Industrial	40	40	(Note 1)
(Huizhou)	Electronic	investment,
Corporation	Information	management
	(Huizhou) Co.,	advisory of
	Ltd.	business, property
		management,
		computer network
		workshop and
		advertisement
		production
Buynow	Yingkou Buynow	Manufacturing,	100	100
(Yingkou)	Electronic	maintenance
Corporation	Information Co.,	service, research
	Ltd.	and development
		of computers and
		computer
		peripherals and
		digital products,
		and business
		management
		advisory services

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

Name of investor	Name of subsidiary	Main business activities	December 31, 2020	December 31, 2019 Description
Buynow	Anshan Buynow	Manufacturing,	100	100
(Anshan)	Electronic	maintenance
Corporation	Information Co.,	service, research
	Ltd.	and development
		of computers and
		computer
		peripherals and
		digital products,
		and business
		management
		advisory services
Buynow	Guiyang Buynow	Research and	100	100
(Guiyang)	Electronic	development of
Corporation	Information Co.,	computers and
	Ltd.	computer
		peripherals and
		electronic
		products, and
		business
		management
		advisory services
Buynow	Taizhou Buynow	Manufacturing,	100	100
(Taizhou)	Electronic	maintenance
Corporation	Information Co.,	service, research
	Ltd.	and development
		of computers and
		computer
		peripherals and
		digital products,
		and business
		management
		advisory services
Smarter Capital	Buynow SZ.	Investing	100	100
Limited	Corporation

~35~

Ownership (%)

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Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019 Description
Buynow SZ.	Suzhou Jinzuo	Business affairs	100	100
Corporation	Industry Co., Ltd.	and property
		management
		business
Buynow	Dezhou Buynow	Research and	100	100
(Dezhou)	Electronic	development
Corporation	Information Co.,	and maintenance
	Ltd.	service of
		computers and
		computer
		peripherals and
		electronic
		products; Business
		management
		advisory services
		and shopping mall
		management
Buynow	Luoyang Buynow	Research and	100	100
(Luoyang)	Electronic	development
Corporation	Information Co.,	and maintenance
	Ltd.	service of
		computers and
		computer
		peripherals and
		electronic
		products; Business
		management
		advisory services
		and shopping mall
		management

~36~

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019 Description
Buynow (Fujian	Quanzhou	Research and	100	100
Quanzhou)	Buynow Industry	development
Corporation	Co., Ltd.	and maintenance
		service of
		computers and
		computer
		peripherals and
		electronic
		products; Business
		management
		advisory services
		and shopping mall
		management
Buynow	Buynow (Jinzhou)	Manufacturing of	100	100
(Jinzhou)	Industry Co., Ltd.	computer software
Corporation		and hardware and
		consumer
		electronic
		products; Business
		management
		advisory services
		and shopping mall
		management
Buynow	Shantou Buynow	Investment in	100	100
(Shantou)	Mall Co., Ltd.	companies
Corporation		primarily engaged
		in research and
		development and
		advisory services

~37~

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019	Description
Kapok	Kunshan Kaiming	Provide market	100	100
Computer Co.,	Trading Co., Ltd.	management
Ltd.		services for
		operators of
		laptop computers,
		tablets, desktop
		computers,
		palmtop
		computers,
		information and
		communication
		products and
		computer
		components
Shanghai	Shanghai Buynow	Provide market	100	100
Buynow	Electronic	management
Electronic	Products Market	services for
Information Co.,	Management Co.,	operators of
Ltd.	Ltd.	electronic products
Shanghai	Shanghai Huihei	Advertising design	100	100
Buynow	Advertisment Co.,	and marketing
Electronic	Ltd.
Products Market
Management
Co., Ltd.
Shanghai	Shanghai	Catering business	80	80	(Note 1)
Buynow	Huizhuan	management
Electronic	Restaurant
Products Market	Management Co.,
Management	Ltd.
Co., Ltd.
Quality Trust	Wuxi Quantai	Property	100	100
Property	Property	management, real
Management	Management Co.,	estate advisory
Co., Ltd.	Ltd.	services, building
		leasing,
		housekeeping
		service, parking
		lot service, car
		wash service and
		business service

~38~

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019	Description
Buynow (Wuxi)	Wuxi Buynow	Leasing of facility,	100	100
Corporation	Electronic Market	market
	Co., Ltd.	management
		service, catering
		management,
		property
		management,
		parking lot
		management
Buynow (Wuxi)	Beijing Kaiye	Technology	12.5	10	(Note 2)
Corporation	Electronic	extension services,
	Technology Co.,	computer
	Ltd.	maintenance,
		public parking lot
		service for
		motorcycle,
		property
		management,
		business
		management
		advisory services,
		business building
		leasing, wholesale
		of computer and
		computer
		peripherals,
		hardware
		electronic products
		and household
		appliances
Buynow	Xiamen Lejing	Internet café and	-	100	(Note 4)
(Fujian)	Internet Bar Co.,	internet message
Electronic Co.,	Ltd.	service
Ltd.

~39~

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019	Description
Buynow	Guandong Huijing	Self-owned	35	35	(Note 1)
Electronic	Real Estate	property
Information	Development Co.,	management and
(Guangzhou)	Ltd.	leasing,
Co., Ltd.		manufacturing,
		sale, research and
		development of
		computer software
		and hardware and
		digital products
Buynow	Buynow	Industrial	60	60	(Note 1)
Electronic	Electronic	investment,
Information	Information	business
(Guangzhou)	(Huizhou) Co.,	management
Co., Ltd.	Ltd.	advisory services,
		property
		management,
		computer network
		workshop and
		advertisement
		production
Clevo (China)	Shanghai	Catering business	20	20	(Note 1)
Investment Co.,	Huizhuan	management
Ltd.	Restaurant
	Management Co.,
	Ltd.
Clevo (China)	Shanghai Buynow	Leasing of	78.79	78.79	(Note 1)
Investment Co.,	Electronic	exhibition space
Ltd.	Information Co.,	for computer and
	Ltd.	electronic
		products,
		information
		advisory,
		maintenance
		service and
		property
		management

~40~

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Ownership (%)
Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019	Description
Clevo (China)	Qingdao Buynow	Leasing of	70.59	70.59	(Note 1)
Investment Co.,	Technology	exhibition space
Ltd.	Industrial Co.,	for computer and
	Ltd.	electronic
		products,
		information
		advisory,
		maintenance
		service and
		property
		management
Kalor Buynow	Beijing Kaiye	Technology	12.5	20	(Note 2)
(Heifei)	Electronic	extension services,
Electronic	Technology Co.,	computer
Information Co.,	Ltd.	maintenance,
Ltd.		public parking lot
		service for
		motorcycle,
		property
		management,
		business
		management
		advisory services,
		business building
		leasing, wholesale
		of computer and
		computer
		peripherals,
		hardware
		electronic products
		and household
		appliances

~41~

Ownership (%)

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----- Start of picture text -----

Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019	Description
Buynow	Beijing Kaiye	Technology	12.5	20	(Note 2)
Electronic	Electronic	extension services,
Information	Technology Co.,	computer
(Zhengzhou)	Ltd.	maintenance,
		public parking lot
		service for
		motorcycle,
		property
		management,
		business
		management
		advisory services,
		business building
		leasing, wholesale
		of computer and
		computer
		peripherals,
		hardware
		electronic products
		and household
		appliances

~42~

Ownership (%)

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----- Start of picture text -----

Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019	Description
Buynow	Beijing Kaiye	Technology	12.5	20	(Note 2)
(Changchun)	Electronic	extension services,
Industry Co.,	Technology Co.,	computer
Ltd.	Ltd.	maintenance,
		public parking lot
		service for
		motorcycle,
		property
		management,
		business
		management
		advisory, and
		business building
		leasing, wholesale
		of computer and
		computer
		peripherals,
		hardware
		electronic products
		and household
		appliances

~43~

Ownership (%)

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----- Start of picture text -----

Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities 3	1, 2020	31, 2019	Description
Buynow	Beijing Kaiye	Technology	25	-	(Note 2)
(Nanchang)	Electronic	extension services,
Industry Co.,	Technology Co.,	computer
Ltd.	Ltd.	maintenance,
		public parking lot
		service for
		motorcycle,
		property
		management,
		business
		management and
		advisory, business
		building leasing,
		wholesale of
		computer and
		computer
		peripherals,
		hardware
		electronic products
		and household
		appliances

~44~

Ownership (%)

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----- Start of picture text -----

Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019	Description
Buynow	Beijing Kaiye	Technology	12.5	20	(Note 2)
(Hangzhou)	Electronic	extension services,
Electronic	Technology Co.,	computer
Information	Ltd.	maintenance,
Co., Ltd.		public parking lot
		service for
		motorcycle,
		property
		management,
		business
		management and
		advisory, business
		building leasing,
		wholesale of
		computer and
		computer
		peripherals,
		hardware
		electronic products
		and household
		appliances

~45~

Ownership (%)

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----- Start of picture text -----

Name of Name of Main business December December
investor subsidiary activities 31, 2020 31, 2019 Description
----- End of picture text -----

investor	subsidiary	activities	31, 2020	31, 2019	Description
Tianjin Buynow	Beijing Kaiye	Technology	12.5	10	(Note 2)
Electronic	Electronic	extension services,
Information Co.,	Technology Co.,	computer
Ltd.	Ltd.	maintenance,
		public parking lot
		service for
		motorcycle,
		property
		management,
		business
		management and
		advisory, business
		building leasing,
		wholesale of
		computer and
		computer
		peripherals,
		hardware
		electronic products
		and household
		appliances
Buynow	Beijing Clevo	Business advisory	12.39	12.39	(Note 1)
(Changchun)	Investment	of investment
Industry Co.,	Management	management,
Ltd.	Consultant Co.,	wholesale agency
	Ltd.	of electronic
		products, import
		and export of
		goods and
		property
		management
Buynow	Beijing Clevo	Business advisory	11.61	11.61	(Note 1)
Electronic	Investment	of investment
Information	Management	management,
(Zhengzhou)	Consultant Co.,	wholesale agency
	Ltd.	of electronic
		products, import
		and export of
		goods and
		property
		management

~46~

• Note 1: The parent company of the Group held 100% of the shares in these subsidiaries, and the subsidiaries were included in the consolidated financial statements.

• Note 2: On August 14, 2020, Beijing Kaiye Electronic Technology Co., Ltd. increased its capital and consequently, the ownership percentage held by Tianjin Buynow Electronic Information Co., Ltd. and Buynow (Wuxi) Electronic Technology Development Co., Ltd. increased from 10% to 12.5%, the ownership percentage held by Buynow (Zhengzhou) Electronic Information Co., Ltd., Buynow (Changchun) Industry Co., Ltd., Buynow (Hangzhou) Electronic Information Co., Ltd. and Kalor Buynow (Heifei) Electronic Information Co., Ltd. decreased from 20% to 12.5% and the ownership percentage held by Buynow (Nanchang) Industry Co., Ltd. increased from 0% to 25%. The parent company of the Group held 100% of the shares in these subsidiaries, and the subsidiaries were included in the consolidated financial statements .

• Note 3: The registration of Clevo Japan GK was cancelled on March 23, 2020.

• Note 4: The registration of Xiamen Lejing Internet Bar Co., Ltd. was cancelled on September 15, 2020.

• C. Subsidiaries not included in the consolidated financial statements:

Name of investor	Name of subsidiary Main business activities Clevo France Sarl Design and sale of computers and computer peripherals	December 31,2020 December 31, 2019 Description 100 100 (Note) Ownership (%)
The Company		100

Note: As CLEVO FRANCE SARL has ceased operations, there was no outstanding balance in its

balance sheet and income statement accounts as of and for the years ended December 31, 2020 and 2019.

• D. Adjustments for subsidiaries with different balance sheet dates: None.

• E. Significant restrictions: None.

• F. Subsidiaries that have non-controlling interests that are material to the Group: None.

• (4) Foreign currency translation

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

• A. Foreign currency transactions and balances

  • (a) Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are remeasured. Foreign exchange gains and losses resulting from the settlement of such transactions are

~47~

recognised in profit or loss in the period in which they arise.

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

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

• (d) All other foreign exchange gains and losses based on the nature of those transactions are presented in the statement of comprehensive income within ‘other gains and losses’.

• B. Translation of foreign operations

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

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

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

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

• (b) When the foreign operation partially disposed of or sold is an associate or joint arrangement, exchange differences that were recorded in other comprehensive income are proportionately reclassified to profit or loss as part of the gain or loss on sale. In addition, even when the Group retains partial interest in the former foreign associate or joint arrangement after losing significant influence over the former foreign associate, or losing joint control of the former joint arrangement, such transactions should be accounted for as disposal of all interest in these foreign operations.

• (c) When the foreign operation partially disposed of or sold is a subsidiary, cumulative exchange differences that were recorded in other comprehensive income are proportionately transferred to the non-controlling interest in this foreign operation. In addition, even when the Group retains partial interest in the former foreign subsidiary after losing control of the former foreign subsidiary, such transactions should be accounted for as disposal of all interest in the foreign operation.

~48~

(5) Classification of current and non-current items

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

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

• (b) Assets held mainly for trading purposes;

• (c) Assets that are expected to be realized within twelve months from the balance sheet date;

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

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

• (a) Liabilities that are expected to be settled within the normal operating cycle;

• (b) Liabilities arising mainly from trading activities;

• (c) Liabilities that are to be settled within twelve months from the balance sheet date;

• (d) Liabilities for which the repayment date cannot be extended unconditionally to more than twelve months after the balance sheet date. Terms of a liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do not affect its classification.

(6) Cash equivalents

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

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

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

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

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

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

(8) Financial assets at amortized cost

• A. Financial assets at amortized cost are those that meet all of the following criteria:

• (a) The objective of the Group’s business model is achieved by collecting contractual cash flows.

~49~

• (b) The assets’ contractual cash flows represent solely payments of principal and interest.

• B. On a regular way purchase or sale basis, financial assets at amortized cost are recognised and derecognised using trade date accounting.

• C. At initial recognition, the Group measures the financial assets at fair value plus transaction costs. Interest income from these financial assets is included in finance income using the effective interest method. A gain or loss is recognised in profit or loss when the asset is derecognised or impaired.

• D. The Group’s time deposits which do not fall under cash equivalents are those with a short maturity period and are measured at initial investment amount as the effect of discounting is immaterial.

• (9) Accounts and notes receivable

• A. Accounts and notes receivable entitle the Group a legal right to receive consideration in exchange for transferred goods or rendered services.

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

• (10) Impairment of financial assets

• For debt instruments measured at fair value through other comprehensive income and financial assets at amortized cost including accounts receivable that have a significant financing component and lease receivables, at each reporting date, the Group recognises the impairment provision for 12 months expected credit losses if there has not been a significant increase in credit risk since initial recognition or recognises the impairment provision for the lifetime expected credit losses (ECLs) if such credit risk has increased since initial recognition after taking into consideration all reasonable and verifiable information that includes forecasts. On the other hand, for accounts receivable that do not contain a significant financing component, the Group recognises the impairment provision for lifetime ECLs.

(11) Derecognition of financial assets

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

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

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

• C. The contractual rights to receive cash flows of the financial asset have been transferred; however, the Group has not retained control of the financial asset.

- (12) Leasing arrangements (lessor) operating leases

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

• (13) Inventories

• A. Inventories, including construction in progress, buildings and land held for sale, are measured at acquired cost and capitalize borrowing costs incurred during the period of construction.

• B. The lands use rights of house construction and the superficies rights of acquiring specific lands

~50~

the Group acquired for construction development and leasing are in accordance with paragraph 6 and 8 of IAS 2, therefore, the acquired costs of land use rights are recognised as inventories.

• C. The cost of the computers and peripheral products is determined using the weighted-average method. The cost of finished goods and work in progress comprises raw materials, direct labor, other direct costs and relating production overheads (allocated based on normal operating capacity). It excludes borrowing costs.

• D. Inventories are stated at the lower of cost and net realizable value. The item by item approach is used in applying the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated cost of completion and applicable variable selling expenses.

• (14) Non-current assets held for sale

Non-current assets are classified as assets held for sale when their carrying amount is to be recovered principally through a sale transaction rather than through continuing use, and a sale is considered highly probable. They are stated at the lower of carrying amount and fair value less costs to sell.

• (15) Investments accounted for using equity method / associates

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

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

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

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

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

~51~

amounts previously recognised in other comprehensive income in relation to the associate are reclassified to profit or loss proportionately in accordance with the aforementioned approach.

• (16) Investment accounted for using equity method joint ventures

• A. Investment in joint arrangements are classified as joint ventures based on its contractual rights and obligations.

• B. Investment accounted for using equity method - joint ventures

  • The Group accounts for its interest in a joint venture using equity method. Unrealized profits and losses arising from the transactions between the Group and its joint venture are eliminated to the extent of the Group’s interest in the joint venture. However, when the transaction provides evidence of a reduction in the net realizable value of current assets or an impairment loss, all such losses shall be recognised immediately. When the Group’s share of losses in a joint venture equals or exceeds its interest in the joint venture together with any other unsecured receivables, the Group does not recognise further losses, unless it has incurred legal or constructive obligations or made payments on behalf of the joint venture.

• (17) Property, plant and equipment

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

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

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

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

Errors’, from the date of the change. The estimated useful lives are as follows:	of property, plant and equipment
Buildings and structures	2 ~ 50 years
Machinery and equipment	3 ~ 5 years
Molding equipment	1 ~ 3 years
Computer and communication equipment	3 ~ 5 years
Transportation equipment	1 ~ 5 years

~52~

Office equipment 3 ~ 5 years Other equipment 3 ~ 5 years Leasehold improvements 5 ~ 30 years

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

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

• B. Lease liabilities include the net present value of the remaining lease payments at the commencement date, discounted using the incremental borrowing interest rate. Lease payments are fixed payments, less any lease incentives receivable.

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

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

• (a) The amount of the initial measurement of lease liability;

• (b) Any lease payments made at or before the commencement date; and

• (c) Any initial direct costs incurred by the lessee.

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

(19) Investment property

• A. The investment property is to earn rental revenue or for capital appreciation or both instead of non-owner-occupied property held by the Group.

• B. The Group acquired the specific land superficies and its right to use of the constructed buildings on the land. Due to the development of the construction plans, the Group leased the land as the investing properties and recognised the acquired historical cost of the land use rights as the basis.

• C. An investment property is stated initially at its cost and measured subsequently using the fair value model. A gain or loss arising from a change in the fair value of investment property is recognised in profit or loss.

(20) Intangible assets

• A. Computer software

Computer software is stated at cost and amortized on a straight-line basis over its estimated useful life of 1 to 10 years.

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B. Goodwill

Goodwill arises in a business combination accounted for by applying the acquisition method.

• (21) Impairment of non-financial assets

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

• B. The recoverable amounts of goodwill are evaluated periodically. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. Impairment loss of goodwill previously recognised in profit or loss shall not be reversed in the following years.

• C. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the cash-generating units, or groups of cash-generating units, that is/are expected to benefit from the synergies of the business combination. Each unit or group of units to which the goodwill is allocated represents the lowest level within the entity at which the goodwill is monitored for internal management purposes. Goodwill is monitored at the operating segment level.

(22) Borrowings

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

• B. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalized as a pre-payment for liquidity services and amortized over the period of the facility to which it relates.

• (23) Notes and accounts payable

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

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

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(24) Financial liabilities at fair value through profit or loss

• A. Financial liabilities are classified in this category of held for trading if acquired principally for the purpose of repurchasing in the short-term. Derivatives are also categorized as financial liabilities held for trading unless they are designated as hedges.

• B. At initial recognition, the Group measures the financial liabilities at fair value. All related transaction costs are recognised in profit or loss. The Group subsequently measures these financial liabilities at fair value with any gain or loss recognised in profit or loss.

(25) Bonds payable

Ordinary corporate bonds issued by the Group are initially recognised at fair value less transaction costs. Any difference between the proceeds (net of transaction costs) and the redemption value is presented as an addition to or deduction from bonds payable, which is amortized to profit or loss over the period of bond circulation using the effective interest method as an adjustment to ‘finance costs’.

(26) Derecognition of financial liabilities

A financial liability is derecognised when the obligation specified in the contract is either discharged or cancelled or expires.

(27) Offsetting financial instruments

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

(28) Non-hedging derivatives

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

(29) Provisions

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

(30) Employee benefits

• A. Short-term employee benefits

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

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expense in that period when the employees render service.

• B. Pensions

• (a) Defined contribution plans

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

• (b) Defined benefit plans

  • i. Net obligation under a defined benefit plan is defined as the present value of an amount of pension benefits that employees will receive on retirement for their services with the Group in current period or prior periods. The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the balance sheet date less the fair value of plan assets. The net defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The rate used to discount is determined by using interest rates of highquality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability; when there is no deep market in high-quality corporate bonds, the Group uses interest rates of government bonds (at the balance sheet date) instead.

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

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

• C. Employees’ compensation and directors’ and supervisors’ remuneration

• Employees’ compensation and directors’ and supervisors’ remuneration are recognised as expense and liability, provided that such recognition is required under legal or constructive obligation and those amounts can be reliably estimated. Any difference between the resolved amounts and the subsequently actual distributed amounts is accounted for as changes in estimates. If employee compensation is paid by shares, the Group calculates the number of shares based on the closing price at the previous day of the board meeting resolution.

(31) Income tax

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

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

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tax is levied on the unappropriated retained earnings and is recorded as income tax expense in the year the stockholders resolve to retain the earnings.

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

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

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

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

(32) Share capital

• A. Ordinary shares are classified as equity.

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

(33) Dividends

Dividends are recorded in the Company’s financial statements in the period in which they are resolved by the Company’s shareholders. Cash dividends are recorded as liabilities; stock dividends

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are recorded as stock dividends to be distributed and are reclassified to ordinary shares on the effective date of new shares issuance.

• (34) Revenue recognition

• A. Sales of goods

  • (a) The Group designs, manufactures and sells a range of video display devices, computers and peripheral products. Sales are recognised when control of the products has transferred, being when the products are delivered to the customer, the customer has full discretion over the channel and price to sell the products, and there is no unfulfilled obligation that could affect the customer’s acceptance of the products. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred to the customer, and either the customer has accepted the products in accordance with the sales contract, or the Group has objective evidence that all criteria for acceptance have been satisfied.

  • (b) The computers are often sold with volume discounts based on aggregate sales over a 12month period. Revenue from these sales is recognised based on the price specified in the contract, net of the estimated volume discounts and sales discounts and allowances. Accumulated experience is used to estimate and provide for the volume discounts and sales discounts and allowances, using the expected value method, and revenue is only recognised to the extent that it is highly probable that a significant reversal will not occur. The estimation is subject to an assessment at each reporting date. A refund liability is recognised for expected volume discounts and sales discounts and allowances payable to customers in relation to sales made until the end of the reporting period. The sales usually are made with a credit term of 30 days to 120 days. As the time interval between the transfer of committed goods or service and the payment of customer does not exceed one year, the Group does not adjust the transaction price to reflect the time value of money.

  • (c) The Group’s obligation to provide a refund for faulty products under the standard warranty terms is recognised as a provision.

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

• B. Booth rental revenue

The Group held investment properties to earn rentals, and lease revenue is recognised on a straight-line basis over the lease term.

• C. Land development and resale

• (a) The Group develops and sells residential properties. Revenue is recognised when control over the property has been transferred to the customer. The properties have generally no alternative use for the Group due to contractual restrictions. However, an enforceable right to payment does not arise until legal title has passed to the customer. Therefore, revenue is recognised at

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a point in time when the legal title has passed to the customer.

• (b) The revenue is measured at an agreed upon amount under the contract. The consideration is due when legal title has been transferred.

• D. Hotel revenue

• (a) The main services the Group provides are food services and accommodations.

• (b) Food services revenue is recognised at a point in time when the products are sold to the customers and the payments are charged immediately. The Group’s sales policy offers customers the rights of return within a certain time period. The estimate of sales return is evaluated with expected method based on historical experiences at the time of sale, and accumulated revenue the Group recognised shall not be reversed in the following years according to historical experiences. The validity of this assumption and estimated amount of returns are reassess at each reporting date.

• (c) The accommodations revenue is recognised on a straight-line basis throughout the period of stay of the customer. The customer pays at the time specified in the payment schedule.

• E. Incremental costs of obtaining a contract

Given that the contractual period lasts less than one year, the Group recognises the incremental costs of obtaining a contract as an expense when incurred although the Group expects to recover those costs.

(35) Government grants

Government grants are recognised at their fair value only when there is reasonable assurance that the Group will comply with any conditions attached to the grants and the grants will be received. Government grants are recognised in profit or loss on a systematic basis over the periods in which the Group recognises expenses for the related costs for which the grants are intended to compensate. Government grants related to property, plant and equipment are recognised as non-current liabilities and are amortized to profit or loss over the estimated useful lives of the related assets using the straight-line method.

(36) Operating segments

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

5. CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND KEY SOURCES OF

ASSUMPTION UNCERTAINTY

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

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and liabilities within the next financial year; and the related information is addressed below:

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

Investment property

The Group uses a portion of the property for its own use and another portion to earn rentals or for capital appreciation. When these portions cannot be sold separately and cannot be leased out separately under a finance lease, the property is classified as investment property only if the own-use portion accounts for an insignificant part of the property.

• (2) Critical accounting estimates and assumptions

• A. Evaluation of inventories

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

As of December 31, 2020, the carrying amount of inventories was $3,709,265.

• B. Investment property measured at fair value

• The Group assesses the fair value of investment property based on the professional judgement of appraiser, and determines the future cash flows of the investment property, discount rate and the future possible income and expenses arising from the assets depending on how assets are utilized and industrial characteristics. Any changes of economic circumstances or estimates due to the change of Group strategy might cause material effect in the amount of investment property measured at fair value.

As of December 31, 2020, the carrying amount of investment property was $63,638,847.

6. DETAILS OF SIGNIFICANT ACCOUNTS

(1) Cash and cash equivalents

TAILS OF SIGNIFICANT ACCOUNTS Cash and cash equivalents
Cash on hand and revolving funds Checking accounts and demand deposits Time deposits	December31,2020			December31,2019
		1,684 $ 2,227,954 2,688,413 4,918,051 $		1,923 $ 4,777,958 3,267,903 8,047,784 $

• A. The Group transacts with a variety of financial institutions all with high credit quality to disperse credit risk, so it expects that the probability of counterparty default is remote.

• B. Time deposits pledged to others as collateral for borrowings and those with maturity over three months totaling $1,862,669 and $1,694,289 were classified as financial assets at amortized cost as of December 31, 2020, and 2019, respectively.

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(2) Financial assets (liabilities) at fair value through profit or loss

==> picture [486 x 267] intentionally omitted <==

----- Start of picture text -----

Assets items December 31, 2020 December 31, 2019
Current items:
Financial assets mandatorily
measured at fair value through
profit or loss
Listed stocks $ 481,102 $ 502,651
Beneficiary certificates 619,591 280,809
Valuation adjustment 508,774 238,734
$ 1,609,467 $ 1,022,194
December 31, 2020 December 31, 2019
Liabilities items
Current items:
Financial liabilities designated as
at fair value through profit or loss
Forward foreign exchange contracts ($ 15,781) ($ 1,008)
----- End of picture text -----

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

loss are listed below:
			Year	ended
	December		31,2020	December	31,2019
Financial assets mandatorily
measured at fair value through
profit or loss
Equity instruments	($		28,674)	$	321,445
Beneficiary certificates			211,300		367,898
Forward foreign exchange contracts			9,351		-
			191,977		689,343
Financial liabilities designated as at fair
value through profit or loss
Forward foreign exchange contracts	(		15,781)	(	1,008)
	(		15,781)	(	1,008)
		$	176,196	$	688,335

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

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	December31,2020	December31,2020
	Contract amount
Derivative financial assets	(notional principal)	Contract period
Current items:
Foreign exchange swap	USD $ 9,000	2020/06/08~2021/06/10
Derivative financial liabilities
Current items:
Forward foreign exchange contracts	USD 27,000	2020/06/08~2021/06/30
	December31,2019
	Contract amount
Derivative financial assets	(notionalprincipal)	Contractperiod
Current items:
Forward foreign exchange contracts	USD$18,000	2019/12/25~2020/03/05
Forward foreign exchange contracts / Foreign exchange swaps
The Group entered into forward foreign exchange contracts and foreign exchange swaps to sell or
buy foreign currency to hedge exchange rate risk of foreign currency		and earn the exchange rate
spread. However, these forward foreign exchange contracts are not		accounted for under hedge
accounting.

• C. The Group has no financial assets at fair value through profit or loss pledged to others.

• D. Information on the fair value and price risk of financial assets at fair value through profit or loss is provided in Notes 12(2) and (3).

(3) Accounts receivable

is provided in Notes 12(2) and (3). Accounts receivable
Accounts receivable Accounts receivable - related parties Less: Allowance for uncollectible accounts	December31,2020	December31,2019
	2,288,178 $ - 39,268) ( 2,248,910 $	2,045,675 $ 1,022 48,704) ( 1,997,993 $

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

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Not past due Up to 30 days 31 to 90 days 91 to 180 days Over 180 days	December31,2020 Accountsreceivable 1,727,638 $ 443,958 49,709 17,220 49,653 2,288,178 $	December31,2019 Accountsreceivable 1,652,030 $ 273,007 69,102 19,222 33,336 2,046,697 $

The above ageing analysis was based on past due date.

• B. As of December 31, 2020, December 31, 2019 and January 1, 2019, the balances of receivables from contracts with customers amounted to $2,248,910, $1,997,993 and $1,627,027, respectively.

• C. The Group has no accounts receivable pledged to others.

• D. As at December 31, 2020 and 2019, without taking into account any collateral held or other credit enhancements, the maximum exposure to credit risk in respect of the amount that best represents the Group’s accounts receivable was $2,248,910 and $1,997,993, respectively.

• E. The Group has taken out credit insurance on accounts receivable from some of the main clients. The Group will get compensation based on the agreements.

• F. Information related to credit risk of accounts receivable is provided in Note 12(3).

(4) Inventories

Inventories
Raw materials Semi-finished goods Finished goods Merchandise inventory Inventory in transit Buildings and land held for sale			December31,2020
		Cost 1,862,500 $ 108,348 4,717 31,773 26,723 2,034,061 1,879,476 $ 3,913,537	Allowance for valuation loss 56,773) ($ 3,449) ( 660) ( - - 60,882) ( 143,390) ( ($204,272)	Bookvalue 1,805,727 $ 104,899 4,057 31,773 26,723 1,973,179 1,736,086 $ 3,709,265

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Raw materials Semi-finished goods Finished goods Merchandise inventory Inventory in transit Buildings and land held for sale	Cost Allowance for valuation loss Bookvalue 1,387,108 $ 58,204) ($ 1,328,904 $ 106,863 2,818) ( 104,045 88,018 - 88,018 8,009 259) ( 7,750 4,324 - 4,324 1,594,322 61,281) ( 1,533,041 2,660,057 29,330) ( 2,630,727 $4,254,379 ($ 90,611) $ 4,163,768 December31,2019

• A. The cost of inventories recognised as expense was $15,882,827 and $16,849,737, including $7,624 that the Group reversed from a previous inventory write-down and accounted for as reduction of cost of goods sold due to the sales of building and land held for sale for the year ended December 31, 2019, $114,292 that the Group wrote down building and land held for sale from cost to net realizable value and accounted for as increase in cost of goods sold for the year ended December 31, 2020, as well as the amounts of $22,031 and $11,740 that the Group wrote down from cost to net realizable value accounted for as increase in cost of goods sold for the years ended December 31, 2020 and 2019, respectively.

• B. The amount of capitalized borrowing cost for the years ended December 31, 2020 and 2019 was $31,917 and $71,224, respectively, and the capitalized rate was 3.00%~5.34%, and 4.35%~5.94%, respectively.

• C. As of December 31, 2020, inventories pledged are described in Note 8.

(5) Investments accounted for using equity method

Investments accounted for using equity method
Associates: Chicony Square (Wuhan) Inc. Chicony Square (Cayman) Inc. Chicony Chengdu International Inc. Joint ventures: TAIPEI TWIN CORPORATION Other non-current liabilities Chicony Square (Cayman) Inc.	December31,2020		December31,2019
	2,361,152 $ 50,181 49,738 987,137 3,448,208 $ December31,2020		2,389,234 $ - 41,773 999,457 3,430,464 $ December31,2019 17,764 $
		- $

A. Associates:

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

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Companyname Chicony Square (Wuhan) Inc. Chicony Square (Cayman) Inc. Chicony Chengdu International Inc.	Principal place of business Nature of relationship Method of measurement December 31,2020 December 31,2019 China (Note 2) 30% 30% Significant influence associate Equity method China (Note 3) 30% 30% Significant influence associate Equity method China (Note 2) 3.75% (Note 1) 3.75% (Note 1) Significant influence associate Equity method Shareholdingratio

Note 1: The Group held 30% of shares in these subsidiaries.

Note 2: The registration is British Virgin Islands, and the principal place of business is China.

Note 3: The registration is Cayman Islands, and the principal place of business is China.

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

Balance sheet

follows: Balance sheet
			Chicony Square		(Wuhan) Inc.
	December31,2020			December31,2019
Current assets		$	386,488		$	429,929
Non-current assets			7,517,517			7,578,121
Current liabilities	(		33,498)	(		43,936)
Total net assets		$	7,870,507		$	7,964,114
Carrying amount of the associate		$	2,361,152		$	2,389,234
			Chicony Square (Cayman)Inc.
	December31,2020			December31,2019
Current assets		$	2,072		$	2,360
Non-current assets			2,481,058			2,388,929
Current liabilities	(		208,661)	(		193,754)
Non-current liabilities	(		2,107,200)	(		2,256,750)
Total net assets		$	167,269	($		59,215)
Carrying amount of the associate		$	50,181	($		17,764)

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Statement of comprehensive income Current assets Non-current assets Total net assets Carrying amount of the associate (Loss) profit for the year from continuing operations Other comprehensive loss, net of tax Total comprehensive (loss) income Profit for the year from continuing operations Other comprehensive income (loss), net of tax Total comprehensive income Profit for the year from continuing operations Other comprehensive income (loss), net of tax Total comprehensive income		Chicony ChengduInternational Inc.
	December31,2020 December31,2019 30 $ 32 $ 1,326,308 1,113,910 1,326,338 $ 1,113,942 $ 49,738 $ 41,773 $ December31,2020 December31,2019 88,661) ($ 389,368 $ 4,946) ( 260,909) ( 93,607) ($ 128,459 $ Chicony Square (Wuhan)Inc. Year ended Chicony Square (Cayman)Inc.
		December 31, 2020 December 31, 2019 224,337 $ 138,855 $ 2,147 35,560) ( 226,484 $ 103,295 $ Yearended Chicony ChengduInternational Inc.
		Yearended
		December31,2020 December31,2019 209,943 $ 209,526 $ 2,453 40,640) ( 212,396 $ 168,886 $

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B. Joint ventures

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

Shareholding ratio

Company name Principal place of business December 31, 2020 December 31, 2019 Nature of relationship TAIPEI TWIN CORPORATION New Taipei City 50% 50% Financial investment	Method of measurement
	Equity method

• (b) The summarized financial information of the joint venture that is material to the Group is as follows:

Balance sheet

			TAIPEI TWINCORPORATION	TAIPEI TWINCORPORATION	TAIPEI TWINCORPORATION	TAIPEI TWINCORPORATION
		December31,2020			December	31,2019
Cash and cash equivalents		$	602,554		$	179,226
Other current assets			1,002,612			1,800
Current assets			1,605,166			181,026
Financial assets at amortised
cost			-			1,818,653
Other non-current assets			384,876			-
Non-current assets			384,876			1,818,653
Total assets		$	1,990,042		$	1,999,679
Current liabilities	($		15,768)	($		764)
Total liabilities	(		15,768)	(		764)
Total net assets		$	1,974,274		$	1,998,915
Share in joint venture's net assets		$	987,137		$	999,457
Carrying amount of the joint venture		$	987,137		$	999,457

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Statement of comprehensive income

Statement of comprehensive income
		TAIPEICORPORATION
		Years ended	December31,
		2020		2019
Other operating expenses	($	25,817)	($	1,733)
Interest income		1,678	$	648
Other gains and losses	(	503)		-
Profit before income	(	24,642)	(	1,085)
Income tax expense		-		-
Profit, net of tax	($	24,642)	($	1,085)
Total comprehensive loss	($	24,642)	($	1,085)
Dividends received from joint venture	$	-	$	-

The Company and EPOQUE CORPORATION participated in the land development project of Taipei City Western District Gateway Project-Taipei Main Station Special Zone C1/D1 (Eastern Part) to jointly establish TAIPEI TWIN CORPORATION. The investments amounting to $1 billion from both the Company and EPOQUE CORPORATION account for 50% of the total investment and the shareholding ratio is 50% for each. TAIPEI TWIN CORPORATION will be jointly controlled by both parties based on the joint venture agreement.

(Remainder of page intentionally left blank)

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2020

(6) Property, plant and equipment

						2020
At January 1 Cost Accumulated depreciation and impairment Opening net book amount as at January 1 Additions Reclassifications Disposals Depreciation charge Net exchange differences Closing net book amount as at December 31 At December 31 Cost Accumulated depreciation and impairemt	Land 186,563 $ - 186,563 $ 186,563 $ - - - - - 186,563 $ 186,563 $ - 186,563 $	Buildings and structures	Machinery and equipment	Molding equipment	Computers and communication equipment	Transportatio n equipment	Office equipment	Leasehold improvements	Other equipment	Construction in progress and equipment to be inspected Total 2,451,623 $ 6,842,568 $ - 1,020,231) ( 2,451,623 $ 5,822,337 $ 2,451,623 $ 5,822,337 $ - 46,549 858,426) ( 923,660) ( - 7,939) ( - 219,540) ( 4,142) ( 6,141) ( 1,589,055 $ 4,711,606 $ 1,589,055 $ 5,904,995 $ - 1,193,389) ( 1,589,055 $ 4,711,606 $
		3,112,276 $ 610,942) ( 2,501,334 $ 2,501,334 $ 5,395 58,405) ( - 133,844) ( 3,988) ( 2,310,492 $ 3,111,643 $ 801,151) ( 2,310,492 $	720,609 $ 155,545) ( 565,064 $ 565,064 $ 25,228 4,063) ( 1,076) ( 57,875) ( 941) ( 526,337 $ 660,477 $ 134,140) ( 526,337 $	12,661 $ 8,144) ( 4,517 $ 4,517 $ - - - 2,357) ( 8) ( 2,152 $ 10,903 $ 8,751) ( 2,152 $	70,205 $ 57,432) ( 12,773 $ 12,773 $ 7,263 - 1,036) ( 4,350) ( 88) ( 14,562 $ 68,864 $ 54,302) ( 14,562 $	36,542 $ 28,493) ( 8,049 $ 8,049 $ - - 2,610) ( 1,814) ( 1,178 4,803 $ 24,165 $ 19,362) ( 4,803 $	163,868 $ 115,343) ( 48,525 $ 48,525 $ 2,087 - 398) ( 10,200) ( 79) ( 39,935 $ 163,013 $ 123,078) ( 39,935 $	53,889 $ 26,870) ( 27,019 $ 27,019 $ 3,097 2,766) ( - 4,599) ( 30) ( 22,721 $ 56,912 $ 34,191) ( 22,721 $	34,332 $ 17,462) ( 16,870 $ 16,870 $ 3,479 - 2,819) ( 4,501) ( 1,957 14,986 $ 33,400 $ 18,414) ( 14,986 $

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At January 1 Cost Accumulated depreciation and impairment Opening net book amount as at January 1 Additions Reclassifications Disposals Depreciation charge Net exchange differences Closing net book amount as at December 31 At December 31 Cost Accumulated depreciation and impairemt						2019
	Land 186,563 $ - 186,563 $ 186,563 $ - - - - - 186,563 $ 186,563 $ - 186,563 $	Buildings and structures	Machinery and equipment	Molding equipment	Computers and communicatio n equipment	Transportatio n equipment	Office equipment	Leasehold improvements	Other epuipment
		2,851,422 $ 517,584) ( 2,333,838 $ 2,333,838 $ 580,803 188,029) ( 7,466) ( 133,818) ( 83,994) ( 2,501,334 $ 3,112,276 $ 610,942) ( 2,501,334 $	783,110 $ 190,016) ( 593,094 $ 593,094 $ 139,691 20,119) ( 77,986) ( 47,208) ( 22,408) ( 565,064 $ 720,609 $ 155,545) ( 565,064 $	14,487 $ 6,935) ( 7,552 $ 7,552 $ - - - 2,744) ( 291) ( 4,517 $ 12,661 $ 8,144) ( 4,517 $	99,556 $ 72,607) ( 26,949 $ 26,949 $ 5,770 - 8,243) ( 8,856) ( 2,847) ( 12,773 $ 70,205 $ 57,432) ( 12,773 $	46,106 $ 34,764) ( 11,342 $ 11,342 $ 790 - 1,165) ( 1,632) ( 1,286) ( 8,049 $ 36,542 $ 28,493) ( 8,049 $	187,216 $ 111,780) ( 75,436 $ 75,436 $ 4,504 4) ( 4,043) ( 11,740) ( 15,628) ( 48,525 $ 163,868 $ 115,343) ( 48,525 $	124,842 $ 119,331) ( 5,511 $ 5,511 $ 14,878 14,699 6,203) ( 5,266) ( 3,400 27,019 $ 53,889 $ 26,870) ( 27,019 $	58,751 $ 15,897) ( 42,854 $ 42,854 $ 1,280 11,588) ( 8,687) ( 5,127) ( 1,862) ( 16,870 $ 34,332 $ 17,462) ( 16,870 $

A. Refer to Note 6(9) D for the amount of borrowing costs capitalised as part of property, plant, and equipment and the range of the interest rates for the years ended December 31 , 2020 and 2019.

B. The significant components of the Group's buildings and structures, including main construction, steel structure, and related equipment of underground mezzanine are depreciated from 2 to 15 years.

• C. Information about the property, plant, and equipment that were pledged to others as collateral is provided in Note 8.

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(7) Leasing arrangements - lessee

• A. The Group leases various assets including land use right and office. Rental contracts are typically made for periods of 5 to 50 years. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose covenants, but leased assets may not be used as security for borrowing purposes.

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

	December31,2020	December31,2019	December31,2019
	Carryingamount		Carryingamount
Land	4,419,225 $	$	4,400,077
Office	108,420		65,903
	4,527,645 $	$	4,465,980
	Years	ended
	December31,2020	December 31, 2019
	Depreciation charge	Depreciationcharge
Land	52,886 $	$	67,350
Office	17,810		7,614
	70,696 $	$	74,964

• C. For the years ended December 31, 2020 and 2019, the additions to right-of-use assets were $58,873 and $74,442, respectively.

• D. The information on profit and loss accounts related to lease contracts is as follows:

==> picture [460 x 64] intentionally omitted <==

----- Start of picture text -----

Years ended
Items affecting profit or loss December 31, 2020 December 31, 2019
Interest expense on lease liabilities $ 6,759 $ 1,007
Expense on short-term lease contracts $ 11,525 $ 59,312
----- End of picture text -----

• E. For the years ended December 31, 2020 and 2019, the Group’s total cash outflow for leases were $32,301 and $67,933, respectively.

• F. Buynow (Xian), Guiyang Buynow, Yinkou Buynow, Anshan Buynow, Dezhou Buynow, Luoyang Buynow, Buynow (Jinzhou) and Kapok (Kunshan) acquired the land use right from their respective local government agencies for a period of 40 to 50 years. Except for the land use right of Kapok (Kunshan) which is for factory land use (As of December 31, 2020, the amount was $20,317), others are for shopping mall land use.

• G. Guiyang Buynow and Yinkou Buynow entered into the state-owned construction land use right assignment contracts for the years ended December 31, 2014 and 2013 with their local government agencies. The total consideration was RMB 327,101, of which RMB 306,358 was paid and RMB 20,563 remains unpaid, as of December 31, 2020. As of December 31, 2020, the transfer of property rights has not yet been completed.

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(8) Leasing arrangements - lessor

• A. The Group leases various assets classified as investment property. Rental contracts are typically made for periods of 1 and 20 years. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions.

• B. For the years ended December 31, 2020 and 2019, the Group recognised rent income on investment property in the amount of $2,496,266 and $3,039,613, respectively, based on the operating lease agreement, which does not include variable lease payments.

• C. The maturity analysis of the lease payments under the operating leases is as follows:

2020 2021 2022 2023 2024 2025 2026 and after	December31,2020 December31,2019 - $ 481,891 $ 469,125 487,450 381,254 374,230 355,924 373,339 356,171 379,124 365,417 388,569 1,727,872 1,655,531 3,655,763 $ 4,140,134 $

(9) Investment property

Investment property
		2020			2019
At January 1	$	63,013,015		$	65,426,212
Additions from subsequent expenditures		84,055			130,949
Disposals	(	16,919)	(		3,551,575)
Reclassifications		718,715			2,460,226
Net (losses) gains from fair value adjustment	(	55,918)			767,210
Net exchange differences	(	104,101)	(		2,220,007)
At December 31	$	63,638,847		$	63,013,015

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

property are shown below:
Rental income from investment property Direct operating expenses arising from the investment property that generated rental income Direct operating expenses arising from the investment property that did not generate rental income during the period	Yearended
	December31,2020 2,496,266 $ 795,074 $ 113,922 $	December31,2019
		3,039,613 $
		1,026,110 $
		140,298 $

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• B. Measurement of investment property at fair value

• The fair value of the investment property held by the Group as at December 31, 2020, and 2019 was $63,638,847 and $63,013,015, respectively, which was valued by independent appraisers. Valuations were made using the income approach which is categorized within Level 3 in the fair value hierarchy. Key assumptions are as follows:

• (a) Investment property is mainly divided into Taiwan-computer segment and China-Buynow Plaza. Currently, the lease terms of investment property for different segments are: approximately 2 to 5 years for Taiwan-computer segment; 19 years (from 2007 to 2026) for Buynow (Changsha); 15 years (from 2007 to 2022) for Buynow (Nanchang); 20 years (from 2008 to 2028) for Beijing Clevo Investment; 18 years (from 2016 to 2034) for Buynow (Quanzhou); 10 years (from 2017 to 2027) for Suzhou Jinzuo; 6 to20 years (from 2019 to 2050) for Buynow (Anshan); 15 years (from 2019 to 2034) for Luoyang Buynow, and 1 year for the remaining segments. The comparison information between local rent and similar objective property rent is provided in the ‘Summary of fair value disclosure on investment property’ (referred herein as “the following table”).

• (b) Movements of average occupancy rates in the prior year and earnings in prior years are provided in the following table.

• (c) The Group adopts the discounted cash flow analysis under income approach. The estimation process of the appraisal method is subject to the determination of the annual rent growth rate range using the comparison information between local rent and similar objective property rent, and takes into consideration vacancy loss to estimate net rent income over the next ten years as future cash inflow and discounted to the date of appraisal with the discount rate described in (d). In addition, considering the ending balance of disposal value of the objective property is calculated based on the operating revenue over the next year starting from the disposal date to estimated remaining lives of the use right at the disposal date, which will be capitalized based on the estimated discount rate and annual rent growth rate as well as discounted to the appraisal date. The market value is calculated based on the ending disposal value plus the present value of rent for each period.

  • Future cash outflow consists of expenses directly and necessarily related to leasing such as related fees, utilities and promotion costs; and operating expenses necessarily related to operations (i.e. repair expenses), taxes, insurance fees, and capital expenditures. The rates of changes used in the estimation of future movements are in accordance with the rent growth rate used in the imputed rent income.

• (d) The information on the range of discount rates is provided in the following table. The discount rates are determined to take into consideration the interest rate of time deposits or government bonds, as well as the Group’s liquidity, risk, value-added and degree of difficulty of management.

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• (e) The fair values of investment property under construction at the appraisal date and income estimation process were first determined by considering the growth of rent income under the forecast market conditions when the construction was completed, and were discounted using expected rental growth rate and vacancy loss to the appraisal date with a 10-year estimation period. Subsequently, the aforementioned discounted values reduced the necessary engineering costs and expenses incurred from appraisal date to expected completion date plus the discounted estimated salvage values.

• (f) The appraisal reports adopted by the Group are co-certified by the real estate appraisers, Charlie Yang and Jia-Hui Chen from Cushman & Wakefield Limited (referred herein as “Cushman & Wakefield”) and Cushman & Wakefield Limited (HK). The appraisal dates are January 1, 2021 and 2020.

Summary of fair value disclosure on investment property:

Year ended
December 31, 2020	Computersegment	Buynow plaza
Comparative information	$642~$898	$90~$4,612
between local rent and similar
objective property rent
Movements of earnings in the	$70,608	$3,922~$271,777
prior year
Average occupancy rates	100%	85%
Year ended
December 31, 2019	Computersegment	Buynow plaza
Comparative information	$639~$660	$144~$5,485
between local rent and similar
objective property rent
Movements of earnings in the	$65,401	$19,147~$311,906
prior year
Average occupancy rates	100%	90%
Discount rate	December31,2020	December31,2019
-Computer segment	3.10%	3.65%
-Buynow plaza	4.75%~6.75%	4.75%~6.75%
C. The fair value information about the investment property is provided in Note 12(4).
D. Amount of borrowing costs capitalized as part of unfinished construction, investment property
and long-term lease prepayments and the range of the interest rates for such capitalization are as
follows:

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	Year	ended
	December31,2020	December31,2019
Amount capitalised	$151,641	$246,306
Range of the interest rates for capitalisation	3.00%~5.34%	4.35%~5.94%

• E. Information about the investment property that was pledged to others as collateral is provided in Note 8.

(10) Intangible assets

Note 8. Intangible assets
					2020
			Software		Goodwill		Total
At January 1
Cost		$	19,656	$	10,270	$	29,926
Accumulated amortisation and impairment			-		-		-
		$	19,656	$	10,270	$	29,926
At January 1		$	19,656	$	10,270	$	29,926
Additions- acquired separately			12,461		-		12,461
Amortisation charge	(		11,612)		-	(	11,612)
Net exchange differences	(		53)	(	17)	(	70)
At December 31		$	20,452	$	10,253	$	30,705
At December 31
Cost		$	20,452	$	10,253	$	30,705
Accumulated amortisation and impairment			-		-		-
		$	20,452	$	10,253	$	30,705

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					2019
			Software		Goodwill		Total
At January 1
Cost		$	10,632	$	10,679	$	21,311
Accumulated amortisation and impairment			-		-		-
		$	10,632	$	10,679	$	21,311
At January 1		$	10,632	$	10,679	$	21,311
Additions- acquired separately			18,830		-		18,830
Disposals	(		628)		-	(	628)
Amortisation charge	(		9,073)		-	(	9,073)
Net exchange differences	(		105)	(	409)	(	514)
At December 31		$	19,656	$	10,270	$	29,926
At December 31
Cost		$	19,656	$	10,270	$	29,926
Accumulated amortisation and impairment			-		-		-
		$	19,656	$	10,270	$	29,926

Goodwill arose from Buynow segment of the Group.

Details of amortization on intangible assets are as follows:

Administrative expenses Research and development expenses	December31,2020 December31,2019 5,758 $ 4,551 $ 5,854 4,522 11,612 $ 9,073 $ Year ended	December31,2020 December31,2019 5,758 $ 4,551 $ 5,854 4,522 11,612 $ 9,073 $ Year ended
		4,551 $ 4,522
		9,073 $

(11) Non-current assets held for sale

The assets related to property, plant and equipment and right-of-use assets of Shantou Buynow Mall Co., Ltd. (part of Buynow plaza segment) have been reclassified as disposal group held for sale following the approval of the Group’s Board of Directors on May 24, 2019 to sell property, plant and equipment and right-of-use assets to Chicony Industry (Wuhan) Co., Ltd. The transaction was completed in December 2020.

A. Assets of disposal group held for sale:

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December 31, 2019

Property, plant and
equipment		$	3,164,097
Right-of-use assets			1,019,397
			4,183,494
Accumulated impairment	(		160,539)
Net exchange differences	(		236,939)
		$	3,786,016

• B. For the years ended December 31, 2020 and 2019, impairment losses of $54,627 and $160,539, respectively, were recognised in other gains and losses as a result of the remeasurement of the disposal group held for sale at the lower of its carrying amount or fair value less costs to sell. Information relating to fair value is provided in Note 12(4).

(12) Short-term borrowings

Type of borrowings Bank borrowings Bank secured borrowings Bank secured borrowing Bank unsecured borrowings Type ofborrowings Bank borrowings Bank secured borrowings Bank secured borrowings Bank secured borrowings Bank secured borrowings Bank unsecured borrowings

December 31, 2020 Interest rate range Collateral 306,757 $ 4.15%~4.57% Investment property 497,299 0.59% Time deposits pledged 6,052,084 0.74%~1.00% Promissory note 6,856,140 $ December 31, 2019 Interestraterange Collateral 86,265 $ 4.57% Letter of credit 212,806 3.19%～3.40% Long-term prepaid rent and property, plant and equipment 215,663 4.57% Time deposits pledged 722,495 3.19%～5.50% Investment property 7,991,200 0.95%～3.50% Promissory note 9,228,429 $

(13) Other current liabilities

Other current liabilities
Advance rental revenue Other current liabilities Advance receipts from disposals of property (Note)		December31,2020		December31,2019
		380,618 $ 95,538 - 476,156 $		448,507 $ 130,215 1,458,310 2,037,032 $

Note: It refers to advance receipts from non-current assets held for sale.

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(14) Bonds payable

Secured bonds payable Less: Current portion

December31,2020	December31,2020	December31,2019	December31,2019	December31,2019
$	5,000,000		$	5,200,000
	-	(		200,000)
$	5,000,000		$	5,000,000

• A. On August 12, 2015, Clevo Co. issued $5,000,000 secured bonds, as approved by the regulatory authority. As of December 31, 2020, the bonds were all fully paid.

• B. On August 22, 2019, Clevo Co. issued $5,000,000 secured bonds, as approved by the regulatory authority. As of December 31, 2020, the outstanding bonds payable was $5,000,000.

• C. The terms of the secured bonds are as follows:

Type

of Bonds Issuance date Period Amount Coupon rate Payment term Security Secured 2015/8/28 5 years $5,000,000 Not Principal is due Authorise bonds payable exceeding at maturity. Taiwan fixed rate Interest is paid Cooperative of 1.5% annually at Bank to execute simple interest corporate bond rate. guarantee according to the guarantee agreement. Secured 2019/8/26 5 years $5,000,000 Not Principal is due Authorise bonds payable exceeding at maturity. Taiwan fixed rate Interest is paid Cooperative of 0.8% annually at Bank to execute simple interest corporate bond rate. guarantee according to the guarantee agreement.

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- (15) Long term borrowings

Type of borrowings	Borrowing period and repayment term	Interest rate range	Collateral		December 31, 2020
		1.05% 5.22% 0.86%~0.89% 0.86%~0.87% 4.83%~5.25% 4.80%~5.45% 5.30% 0.87%~0.89% 1.03%~1.797% 0.52%~1.13%	Property, plant and equipment and investment t Investment property Long-term prepaid rent and property, plant and equipment Investment property Investment property Investment property Promissory note Property, plant and equipment Promissory note Promissory note	12,786,078 1,250,000 13,780 11,904,838 24,690,915 6,594,537) ( 18,096,378 $ 703,571 212,547 1,442,498 4,479,293 3,803,149 6,520,000 $ 6,028,571 237,507

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Type of	Borrowing period				December 31,	December 31,
borrowings	and repayment term	Interest rate range	Collateral			2019
Unsecured	Borrowing period is from September 28,	0.91%～1.31%	Promissory note		$	5,390,000
borrowings	2018 to March 16, 2023; interest is payable
	monthly, principal is payable in installments
Unsecured	Borrowing period is from December 28,	1.318%～1.797%	Promissory note			6,000,000
borrowings	2018 to December 28, 2023; interest is
	payable monthly, principal is payable in
	installments
						11,390,000
Secured	Borrowing period is from March 20, 2018 to	1.295%	Property, plant			1,250,000
borrowings	March 20, 2023; interest is payable monthly,		and equipment
	principal is payable at maturity date		and investment
			property
Secured	Borrowing period is from June 8, 2015 to	1.60%～6.37%	Investment			6,198,091
borrowings	June 8, 2025; interest is payable monthly,		property
	principal is payable in installments
Secured	Borrowing period is from June 14, 2017 to	5.32%～5.5%	Investment			1,912,927
borrowings	June 7, 2022; interest is payable monthly,		property
	principal is payable at matunity date
Secured	Borrowing period is from December 6, 2016	5.13%～6.93%	Investment			3,983,966
borrowings	to August 17, 2028; interest is payable		property
	quarterly, principal is payable in
	installments
Secured	Borrowing period is from December 15,	5.11%～5.94%	Investment			901,554
borrowings	2016 to December 14, 2020; interest is		property
	payable quarterly, principal is payable at
	maturity date
Secured	Borrowing period is from September 28,	4.75%	Time deposits			99,436
borrowings	2019 to March 27, 2021; interest is payable		pledged
	quarterly, principal is payable at maturity
	date
Secured	Borrowing period is from September 28,	5.00%	Letter of credit			177,897
borrowings	2018 to September 27, 2020; interest is
	payable monthly, principal is payable at
	maturity date
Secured	Borrowing period is from June 11, 2018 to	5.70%	Letter of credit			42,225
borrowings	June 10, 2021; interest is payable monthly,
	principal is payable in installments
						14,566,096
						25,956,096
Less: Current portion of long-term loans				(		4,746,751)
					$	21,209,345

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(16) Pensions

• A. Defined benefit pension plans

• (a) The Company has a defined benefit pension plan in accordance with the Labor Standards Act, covering all regular employees’ service years prior to the enforcement of the Labor Pension Act on July 1, 2005 and service years thereafter of employees who chose to continue to be subject to the pension mechanism under the Act. Under the defined benefit pension plan, two units are accrued for each year of service for the first 15 years and one unit for each additional year thereafter, subject to a maximum of 45 units. Pension benefits are based on the number of units accrued and the average monthly salaries and wages of the last 6 months prior to retirement. The Company contributes monthly an amount equal to 2% of the employees’ monthly salaries and wages to the retirement fund deposited with Bank of Taiwan, the trustee, under the name of the independent retirement fund committee. Also, the Company would assess the balance in the aforementioned labor pension reserve account by December 31, every year. If the account balance is insufficient to pay the pension calculated by the aforementioned method to the employees expected to qualify for retirement in the following year, the Company will make contributions for the deficit by next March.

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

			December31,2020		December 31, 2019
Present value of defined benefit obligations		$	323,696		387,480 $
Fair value of plan assets	(		314,798)	(	315,395)
Net defined benefit liability		$	8,898		72,085 $

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(c) Movements in net defined benefit liabilities are as follows:

Present value of defined benefit obligations Year ended December 31, 2020 Balance at January 1 387,480 $ Current service cost 521 Interest expense (income) 2,945 390,946 Remeasurements: Return on plan assets (excluding amounts included in interest income or expense) Change in demographic 1,697) ( assumptions Change in financial assumptions 27,621) ( Experience adjustments 14,311) ( 43,629) ( Pension fund contribution - Paid pension 23,620) ( Balance at December 31 323,697 $	Fair value of plan assets	Net defined liability
	315,395) ($ - 2,397) ( 317,792) ( - - 10,945) ( 10,945) ( 9,682) ( 23,620 314,799) ($	72,085 $ 521 548 73,154 1,697) ( 27,621) ( 25,256) ( 54,574) ( 9,682) ( - 8,898 $

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Present value of defined benefit obligations Year ended December 31, 2019 Balance at January 1 398,118 $ Current service cost 818 Interest expense (income) 4,300 403,236 Remeasurements: Return on plan assets (excluding amounts included in interest income or expense) Change in demographic 1,354) ( assumptions Change in financial assumptions 17,644 Experience adjustments 9,763) ( 6,527 Pension fund contribution - Paid pension 22,283) ( Balance at December 31 387,480 $	Fair value of plan assets	Net defined liability
	313,572) ($ - 3,388) ( 316,960) ( - - 10,716) ( 10,716) ( 10,002) ( 22,283 315,395) ($	84,546 $ 818 912 86,276 1,354) ( 17,644 20,479) ( 4,189) ( 10,002) ( - 72,085 $

(d) The Bank of Taiwan was commissioned to manage the Fund of the Company’s defined benefit pension plan in accordance with the Fund’s annual investment and utilisation plan and the “Regulations for Revenues, Expenditures, Safeguard and Utilisation of the Labor Retirement Fund” (Article 6: The scope of utilisation for the Fund includes deposit in domestic or foreign financial institutions, investment in domestic or foreign listed, over-the-counter, or private placement equity securities, investment in domestic or foreign real estate securitization products, etc.). With regard to the utilisation of the Fund, its minimum earnings in the annual distributions on the final financial statements shall be no less than the earnings attainable from the amounts accrued from two-year time deposits with the interest rates offered by local banks. If the earnings is less than aforementioned rates, government shall make payment for the deficit after being authorized by the Regulator. The Company has no right to participate in managing and operating that fund and hence the Company is unable to disclose the classification of plan assets fair value in accordance with IAS 19 paragraph 142. The composition of fair value of plan assets as of December 31, 2020 and 2019 is given in the Annual Labor Retirement Fund Utilisation Report announced by the government.

• (e) The principal actuarial assumptions used were as follows:

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	Years ended	December31,
	2020	2019
Discount rate	0.41%	0.76%
Future salary increases	1.50%	2.50%

Future mortality rate was estimated based on the 5th Taiwan Standard Ordinary Experience Mortality Table in accordance with published statistics and experience in each territory.

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

obligation is affected. The analysis was as follows:
Increase 0.5% Decrease 0.5% Effect on present value of defined benefit obligation 19,583) ($ 21,370 $ December 31 2019 Effect on present value of defined benefit obligation 24,664) ($ 26,786 $ Discountrate December 31, 2020	Future salaryincreases
	Increase 0.5% Decrease 0.5% 21,024 $ 19,483) ($ 26,179 $ 24,376) ($	Decrease 0.5%

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

• (f) Expected contributions to the defined benefit pension plans of the Group for the year ending December 31, 2021 amount to $9,682.

(g) As of December 31, 2020, the weighted average duration of the retirement plan is 13 years. The analysis of timing of the future pension payment was as follows:

The analysis of timing of the future pension payment was as follows:
Within 2 years 2-5 years Over 5 years	243,813 $ 42,005 19,556
	305,374 $

B. Defined contribution plans

(a) Effective July 1, 2005, the Company has established a defined contribution pension plan (the “New Plan”) under the Labor Pension Act (the “Act”), covering all regular employees with R.O.C. nationality. Under the New Plan, the Company contributes monthly an amount based on 6% of the employees’ monthly salaries and wages to the employees’ individual pension accounts at the Bureau of Labor Insurance. The benefits accrued are paid monthly or in lump sum upon termination of employment.

• (b) The Company’s China subsidiaries have a defined contribution plan. Monthly contributions to an independent fund administered by the government in accordance with the pension

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regulations in the People’s Republic of China (PRC) are based on a certain percentage of the employees’ monthly salaries and wages. Other than the monthly contributions, the Group has no further obligations.

• (c) The pension costs under the defined contribution pension plans of the Group for the years ended December 31, 2020 and 2019 were $35,849 and $35,960, respectively.

• (17) Provisions

			Warranty	Warranty	Warranty
			2020			2019
At January 1		$	50,523		$	50,523
Additional provisions			77,481			64,910
Used during the year	(		74,481)	(		64,910)
At December 31		$	53,523		$	50,523
Analysis of total provisions:
		December31,2020			December31,2019
Current		$	53,523		$	50,523

The Group provides warranties on computer products sold. Provision for warranty is estimated based on historical warranty data of computer products.

(18) Share capital

• A. As of December 31, 2020, the Company’s authorized capital was $7,500,000, consisting of 750 million shares of ordinary stock, and the paid-in capital was $6,697,630, consisting of 669,763 thousand shares with a par value of $10 (in dollars) per share. On June 15, 2012, the Board of Directors resolved to increase the Company’s authorized capital in the articles of incorporation to $9,000,000, consisting of 900 million shares of ordinary stock, with a par value of $10 (in dollars) per share. The foregoing includes 20 million shares reserved for employee stock options with a par value of $10 (in dollars) per share, which the Board of Directors are authorized to issue depending on actual demand.

Movements in the number of the Company’s ordinary shares outstanding are as follows:

		2020		2019
At January 1		605,216		617,416
Shares retired	(	10,000)	(	12,200)
At December 31		595,216		605,216

B. Treasury shares

• (a) Reason for share reacquisition and movements in the number of the Company’s treasury shares are as follows:

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December 31, 2020

		December	31,2020
Name of company holding the shares	Reason for reacquisition	Numberofshares	Carrying amount
The Company Subsidiary-Kapok Computer Subsidiary-Clevo Investment Name of company holding the shares	To be reissued to employees Long-term investment Long-term investment Reason for reacquisition	47,500 thousand 16,966 thousand 10,081 thousand Numberofshares December	$ 1,450,203 95,305 108,183 Carrying amount 31, 2019
The Company Subsidiary-Kapok Computer Subsidiary-Clevo Investment	To be reissued to employees Long-term investment Long-term investment	37,500 thousand 16,966 thousand 10,081 thousand	$ 1,153,554 95,305 108,183

  - (b) Pursuant to the R.O.C. Securities and Exchange Act, the number of shares bought back as treasury share should not exceed 10% of the number of the Company’s issued and outstanding shares and the amount bought back should not exceed the sum of retained earnings, paid-in capital in excess of par value and realized capital surplus.

  - (c) Pursuant to the R.O.C. Securities and Exchange Act, treasury shares should not be pledged as collateral and is not entitled to dividends before it is reissued.

  - (d) Pursuant to the R.O.C. Securities and Exchange Act, treasury shares should be reissued to the employees within three years from the reacquisition date and shares not reissued within the five-year period are to be retired. Treasury shares to enhance the Company’s credit rating and the stockholders’ equity should be retired within six months of acquisition.

• (19) Capital surplus

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

(20) Retained earnings

• A. Under the Company’s Articles of Incorporation, the current year’s earnings, if any, shall first be used to pay all taxes and offset prior years’ operating losses and then 10% of the remaining amount shall be set aside as legal reserve. However, when the legal reserve amounts to the authorized capital, this shall not apply. According to the law or the authority, the special surplus reserve shall be set or reversed. If there is still surplus, the Board of Directors shall draft the

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allocation resolved by the shareholders.

• B. The Company belongs to high tech and electronics industry and as the Company operates in a volatile business environment and is in the stable growth stage, the residual dividend policy is adopted taking into consideration the Company’s financial structure, operating results and future expansion plans, based on vision of industrial development, capital expenditure demand, sound financial plan and to protect the rights and interests of investors. According to the dividend policy, cash dividends shall account for at least 10% of the total dividends distributed.

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

• D. Special reserve

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

• (b) The amounts previously set aside by the Company as special reserve on initial application of IFRSs in accordance with Jin-Guan-Zheng-Fa-Zi Letter No. 1010012865, dated April 6, 2012, shall be reversed proportionately when the relevant assets are used, disposed of or reclassified subsequently.

• (c) According to Jin-Guan-Zheng-Fa-Zi Letter No. 1030006415, dated March 18, 2014, investment properties are initially and subsequently measured using the fair value model. Changes in value due to appreciation as of December 31, 2013 are reflected in the increase in Appropriated Retained Earnings. The Company will recognise the reversal of earnings if subsequently disposed or the investment properties decrease.

• E. The appropriations of 2019 and 2018 earnings as resolved by the shareholders on June 19, 2020 and June 18, 2019 are as follows:

Legal reserve Special reserve Cash dividends			2019			2018
		Amount	Dividends per share (indollars)		Amount	Dividends per share (indollars)
		106,864 $ 993,875 - 1,100,739 $	- $		145,490 $ 1,194,446 128,453 1,468,389 $	0.20 $

The Company appropriated cash from capital surplus as resolved by the stockholders during their meeting on June 19, 2020 and June 18, 2019. The dividends per share is NTD 0.4 and 0.8, and the total amount to $248,906 and $513,810, respectively.

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The above appropriations of 2019 and 2018 earnings are the same with those approved by the Board of Directors on March 31, 2020 and March 27, 2019, respectively.

• F. The appropriations of 2020 net income were resolved by the Board of Directors during its meeting on March 26, 2021 as follows:

Legal reserve Special reserve Cash dividends	Dividends per share Amount (indollars) 77,323 $ 507,614 373,358 0.60 $ 958,295 $ 2020

(21) Other equity items

Other equity items
At January 1 Currency translation differences: –Group –Associates –Tax on associates At December 31 At January 1 Currency translation differences: –Group –Tax on Group –Associates –Tax on associates At December 31				2020
	Currency translation			Revaluation 20,922 $ - - - 20,922 $ 2019	Total 4,836,021) ($ 91,391) ( 748) ( 149 4,928,011) ($
	4,856,943) ($ 91,391) ( 748) ( 149 4,948,933) ($
		Currency translation		Revaluation 20,922 $ - - - - 20,922 $	Total
	2,741,605) ($ 2,084,716) ( 41,793 90,518) ( 18,103 4,856,943) ($				2,720,683) ($ 2,084,716) ( 41,793 90,518) ( 18,103 4,836,021) ($

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(22) Operating revenue

Operating revenue
		Year	ended
		December 31, 2020		December 31, 2019
Revenue from contracts with customers
-Sales revenue of computer products	$	16,212,628	$	15,376,562
-Land development and resale		837,973		2,596,326
-Hotel revenue		55,530		92,901
-Other revenue		707,078		864,385
Others-rental revenue		2,425,737		2,970,488
	$	20,238,946	$	21,900,662

A. Disaggregation of revenue from contracts with customers

The Group derives revenue from the transfer of goods over time and at a point in time in the following major product lines and geographical regions:

Computer

	Computer
Yera ended December 31, 2020	Segment		Buynow Plaza					Total
	Computer products		Land development andresale	Hotel accommodations revenue			Others
Total segment revenue Inter-segment revenue Revenue from external customer contracts Timing of revenue recognition At a point in time Over time	27,188,709 $ 10,976,081) ( 16,212,628 $ 16,212,628 $ - 16,212,628 $		837,973 $ - 837,973 $ 837,973 $ - 837,973 $		55,530 $ - 55,530 $ - $ 55,530 55,530 $		707,078 $ - 707,078 $ 707,078 $ - 707,078 $	28,789,290 $ 10,976,081) ( 17,813,209 $ 17,757,679 $ 55,530 17,813,209 $

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----- Start of picture text -----

Computer
Segment Buynow Plaza
Year ended Land Hotel
December 31, Computer development accommodations
2019 products and resale revenue Others Total
Total segment
revenue $ 26,992,247 $ 2,596,326 $ 92,901 $ 864,385 $ 30,545,859
Inter-segment
revenue ( 11,615,685) - - - ( 11,615,685)
Revenue from
external customer
contracts $ 15,376,562 $ 2,596,326 $ 92,901 $ 864,385 $ 18,930,174
Timing of revenue
recognition
-
At a point in time $ 15,376,562 $ 2,596,326 $ $ 864,385 $ 18,837,273
Over time - - 92,901 - 92,901
$ 15,376,562 $ 2,596,326 $ 92,901 $ 864,385 $ 18,930,174
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B. Contract assets and liabilities

The Group has recognised the following revenue-related contract assets and liabilities:

Contract liabilities: Contract liabilities – Advance real estate receipts Contract liabilities – Advance sales receipts	December31,2020 $ 112,028 67,608 $179,636	December31,2019 January 1, 2019 $ 527,687 3,114,721 $ 46,614 31,316 $ 574,301 3,146,037 $

• C. Revenue recognised that was included in the contract liability balance at the beginning of the period

period
Revenue recognised that was included in the contract liability balance at the beginning of the period Advance real estate receipts Advance sales receipts	Yeard ended
	December31,2020 383,418 $ 34,360 417,778 $	December31,2019 2,206,164 $ 31,316
		2,237,480 $

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(23) Interest income

(24) (25)

Other income Other gains and losses December31,2020 December31,2019 Interest income from bank deposits 67,743 $ 201,550 $ Year ended December31,2020 December31,2019 Rent income 70,529 $ 69,125 $ Dividend income 30,435 26,052 Other income 147,853 275,544 248,817 $ 370,721 $ Year ended December 31,2020 December 31, 2019 271,284 $ 377,049 $ 103 5,280 4,252) ( 463,078 4,702) ( 12,764) ( 54,627) ( 160,539) ( 55,918) ( 767,210 95,088) ( 311,286 244,081) ( 358,224) ( 42,574) ( 150,132) ( 229,855) ($ 1,242,244 $ Year ended (Losses) gains on fair value adjustment, investment property Gains on disposals of property, plant and equipment Gains on financial assets (liabilities) at fair value through profit or loss (Losses) gains on disposals of investment property Fee expense arising from financial liabilities not at fair value through profit or loss Impairment loss on non-current asset held for sale (Losses) gains on disposals of investments Foreign exchange losses Other losses

(26) Finance costs

Finance costs
			Year	ended
		December	31, 2020		December	31,2019
Bank borrowings		$	1,092,189		$	1,423,434
Less: Capitalisation of qualifying assets	(		183,558)	(		317,530)
Financial costs		$	908,631		$	1,105,904

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(27) Expenses by nature

Expenses by nature
		Year	ended
	December	31, 2020	December	31, 2019
Employee benefit expense	$	1,944,575	$	2,334,145
Depreciation charges on property, plant and
equipment		219,540		216,391
Depreciation charges on right-of-use assets		70,696		74,964
Amortisation charges on intangible assets		11,612		9,073
Operating costs and expenses	$	2,246,423	$	2,634,573

(28) Employee benefit expense

Employee benefit expense
Wages and salaries Labour and health insurance fees Pension costs Other personnel expenses	Yearended
	December31,2020 1,647,475 $ 53,773 36,918 206,409 1,944,575 $	December31,2019
		1,887,155 $ 58,181 37,690 351,119
		2,334,145 $

• A. In accordance with the Articles of Incorporation of the Company, a ratio of distributable profit of the current year shall be distributed as employees’ compensation and directors’ and supervisors’ remuneration. The ratio shall be 5%~15% for employees’ compensation and shall not be higher than 1% for directors’ and supervisors’ remuneration.

• B. For the years ended December 31, 2020 and 2019, employees’ compensation was accrued at, $93,500 and $122,000, respectively; while directors’ and supervisors’ remuneration was accrued at $7,700 and $13,000, respectively. The aforementioned amounts were recognised in salary expenses.

The employees’ compensation and directors’ and supervisors’ remuneration were estimated and accrued based on 5%~15% and not higher than 1% of distributable profit of current year for the year ended December 31, 2020, respectively. The employees’ compensation and directors’ and supervisors’ remuneration resolved by the Board of Directors were $93,500 and $7,700, respectively, and the employees’ compensation will be distributed in the form of cash. Employees’ compensation and directors’ and supervisors’ remuneration for 2019 and 2018 as resolved by the Board of Directors were in agreement with those amounts recognised in the 2019 and 2018 financial statements.

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

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(29) Income tax

A. Income tax expense

(a) Components of income tax expense:

e tax ome tax expense Components of income tax expense:
			Year	ended
		December	31,2020	December	31,2019
Current tax:
Current tax on profits for the year		$	344,391	$	479,082
Prior year income tax (under)
overestimation	(		25,670)		3,038
Total current tax			318,721		482,120
Deferred tax:
Origination and reversal of temporary
differences	(		289,460)		203,648
Total deferred tax Income tax expense	(	$	289,460) 29,261	$	203,648 685,768

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

follows:
			Year	ended
		December	31, 2020		December	31,2019
Currency translation differences		$	149		$	34,476
Remeasurement of defined benefit
obligations	(		10,915)	(		838)
	($		10,766)		$	33,638

B. Reconciliation between income tax expense and accounting profit

			Years	ended
Income/(Loss)		December	31,2020	December	31,2019
Tax calculated based on profit before tax and
statutory tax rate		$	327,449	$	401,474
Temporary differences not recognised as
deferred	(		90,685)	(	104,769)
Tax exempt income by tax regulation	(		23,724)	(	41,312)
Effect from expenses disallowed by tax
regulation			187,533		113,705
Taxable loss not recognised as deferred tax
assets			106,472		251,632
Change in assessment of realisation of
deferred tax assets	(		452,114)		62,000
Prior year income tax (under)overestimation	(		25,670)		3,038
Income tax expense		$	29,261	$	685,768

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

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2020
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are as follows:	2020
Temporary differences: Unrealised exchange losses Allowance for bad debts Allowance for spare valuation losses Allowance for inventory valuation losses Unused compensated absences Accrued pension liability Tax losses Currency translation differences Fair value adjustment, investment property Deferred tax assets:	Recognised Recognised in other in profit comprehensive January1 or loss income 59,000 $ 56,944) ($ - $ 11,677 2,761) ( - 1,526 55 - 3,371 121 - 5,065 - - 14,418 1,722) ( 10,915) ( 37,126 452,114 - - - 21,241 49,611 29,851 - 181,794 420,714 10,326	Translation differences - $ - - - - - - - - -	December31
			2,056 $ 8,916 1,581 3,492 5,065 1,781 489,240 21,241 79,462
			612,834

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Deferred tax liabilities: Unrealised exchange gain 906) ( - - Foreign investment 509,746) ( 9,715) ( - income using equity method Difference from 7,666) ( 960) ( - amortisation of long-term prepaid rent Rent by straight 79,003) ( 2,272 - -line method Unrealised sales losses 542) ( 6) ( - Other operating 668) ( - - revenue Currency translation 21,092 - 21,092) ( differences Increase in revaluation 4,285) ( - - Fair value adjustment, investment property 11,492,958) ( 122,845) ( - 12,074,682) ( 131,254) ( 21,092) ( 11,892,888) ($ 289,460 $ 10,766) ($

- 906) ( - 519,461) ( - 8,626) ( - 76,731) ( - 548) ( - 668) ( - - - 4,285) ( 18,419 11,597,384) ( 18,419 12,208,609) ( 18,419 $ 11,595,775) ($

(Remainder of page intentionally left blank)

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Recognised Recognised in other in profit comprehensive January1 or loss income Temporary differences Unrealised exchange losses 875 $ 58,125 $ - $ Unrealised sales gain - - - Allowance for bad debts 13,371 1,694) ( - Allowance for spare valuation losses 1,526 - - Allowance for 2,260 1,111 - inventory valuation losses Unused compensated 5,065 - - absences Rent by straight -line method 74,878 74,878) ( - Accrued pension 16,910 1,654) ( 838) ( liability Tax losses 99,126 62,000) ( - Fair value adjustment, investment property - 49,611 - 214,011 31,379) ( 838) ( Deferred tax liabilities: Unrealised exchange 12,715) ( 11,809 - gain Foreign investment 569,883) ( 60,137 - income using equity method 2019 Deferred tax assets:		2019

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Difference from 8,064) ( 398 amortisation of long-term prepaid rent Rent by straight -line method 88,094) ( 9,091 Unrealised sales losses 13 555) ( Other operating 668) ( - revenue Currency translation 13,384) ( - differences Increase in revaluation 4,285) ( - Fair value adjustment, investment property 11,683,344) ( 253,149) ( 12,380,424) ( 172,269) ( 12,166,413) ($ 203,648) ($	- - - - 34,476 - - 34,476 33,638 $	- 7,666) ( - 79,003) ( - 542) ( - 668) ( - 21,092 - 4,285) ( 443,535 11,492,958) ( 443,535 12,074,682) ( 443,535 $ 11,892,888) ($

• D. Expiration dates of unused tax losses and amounts of unrecognised deferred tax assets are as follows:

follows:
Year incurred 2016 2017 2020	Amount filed/ assessed 144,741 $ 670,134 394,410	Unrecognised Unused amount deferred taxassets 35,244 $ - $ 670,134 35,378 394,410 394,410 December31,2020 December 31, 2019		Expiry year
				2026 2027 2030
Year incurred 2016 2017	Amount filed/ assessed 156,511 $ 898,310	Unused amount 33,693 $ 898,310	Unrecognised deferred taxassets $ - 740,311	Expiry year
				2026 2027

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• E. Expiration dates of unused tax losses and amounts of unrecognised deferred tax assets from the Company’s subsidiaries are as follows:

		December31,2020	December31,2020
Year incurred 2016 2017 2018 2019 2020	Amount filed/ assessed 597,815 $ 836,543 976,899 774,043 582,289	Unused amount 597,815 $ 830,089 912,999 774,043 582,289	Unrecognised deferred taxassets 291,041 $ 393,408 586,519 574,647 425,890	Expiry year
				2021 2022 2023 2024 2025

Year incurred 2015 2016 2017 2018 2019	Amount filed/ Unrecognised assessed Unused amount deferred tax assets 439,200 $ 439,200 $ 439,200 $ 597,815 446,349 446,349 836,543 770,462 770,462 950,820 950,820 950,820 726,290 726,290 726,290 December 31, 2019	Expiry year
		2020 2021 2022 2023 2024

• F. The amounts of deductible temporary differences that were not recognised as deferred tax assets are as follows:

Deductible temporary differences

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• G. The Company has not recognised taxable temporary differences associated with investment in subsidiaries as deferred tax liabilities. As of December 31, 2020 and 2019, the temporary differences unrecognised as deferred tax liabilities were $10,007,234 and $9,553,808, respectively

• H. The Company’s income tax returns through 2018 have been assessed and approved by the Tax Authority.

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(30) Earnings per share

Basic earnings per share Profit attributable to ordinary shareholders of the parent Diluted earnings per share Profit attributable to ordinary shareholders of the parent Assumed conversion of all dilutive potential ordinary shares Employees’ bonus Profit attributable to ordinary shareholders of the parent plus assumed conversion of all dilutive potential ordinary shares Basic earnings per share Profit attributable to ordinary shareholders of the parent Diluted earnings per share Profit attributable to ordinary shareholders of the parent Assumed conversion of all dilutive potential ordinary shares Employees’ bonus Profit attributable to ordinary shareholders of the parent plus assumed conversion of all dilutive potential ordinary shares		Year ended December31,2020
	Weighted average number of ordinary shares outstanding Amount after tax (shares in thousands) 1,068,639 $ 611,110 1,068,639 $ 611,110 - 4,081 1,068,639 $ 615,191

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(31) Supplemental cash flow information

Investing activities with partial cash payments

		Year ended	Year ended	Year ended
		December 31,2020		December	31,2019
Purchase of property, plant and	$	46,549		$	747,716
Add: Opening balance of payable		862,371			747,729
Add: Ending balance of		3,139			103,138
Less: Ending balance of payable	(	386,727)	(		862,371)
Less: Opening balance of	(	103,138)			-
Less: Capitalisation of interest	(	43,337)	(		116,126)
Cash paid during the year	$	378,857	$		620,086
Purchase of investment property	$	84,055		$	133,425
Add: Opening balance of payable		133,661			329,328
Less: Ending balance of payable	(	88,173)	(		133,661)
Cash paid during the year	$	129,543	$		329,092
Proceeds from disposal of non-current asset
held for sale	$	3,875,368	$		-
Add: Ending balance of advance receipt		-			1,458,310
Less: Opening balance of advance receipt	(	1,458,310)			-
Less: Ending balance of receivable	(	215,298)			-
Cash received during the year	$	2,201,760	$		1,458,310
Proceeds from disposal of property, plant
and equipment	$	8,042	$		119,074
Add: Opening balance of receivable		14,622			-
Less: Ending balance of receivable		-			14,622
Cash received during the year	$	22,664	$		133,696
Disposal of subsidiary	$	-		$	-
Add: Opening balance of other		-			961,772
Cash received during the year	$	-	$		961,772
Purchase of treasury stocks	$	296,649		$	386,017
Add: Opening balance of payable		-			17,458
Cash paid during the year	$	296,649	$		403,475

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(32) Changes in liabilities from financing activities

At January 1 Changes in cash flow from financing activities Impact of changes in foreign exchange rate Changes in other non-cash items At December 31 At January 1 Changes in cash flow from financing activities Impact of changes in foreign exchange rate Changes in other non-cash items At December 31	Short-term borrowings Long-term borrowings 9,228,429 $ 25,956,096 $ $ 2,369,702) ( 1,444,966) ( ( 2,587) ( 20,214) ( - - 6,856,140 $ 24,490,916 $ $ Short-term borrowings Long-term borrowings 8,426,966 $ 34,584,482 $ 1,030,217 8,085,049) ( 228,754) ( 543,337) ( - - 9,228,429 $ 25,956,096 $		Bonds payable Lease liabilities Liabilities from financing activities- gross 5,200,000 65,903 $ 40,450,428 $ 200,000) 14,017) ( 4,028,685) ( - 5,250) ( 28,051) ( - 65,632 65,632 5,000,000 112,268 $ 36,459,324 $ 2020 Bonds payable Lease liabilities Liabilities from financing activities- gross 5,000,000 $ - $ 48,011,448 $ 200,000 7,614) ( 6,862,446) ( - 6,607 765,484) ( - 66,910 66,910 5,200,000 $ 65,903 $ 40,450,428 $ 2019	Bonds payable Lease liabilities Liabilities from financing activities- gross 5,200,000 65,903 $ 40,450,428 $ 200,000) 14,017) ( 4,028,685) ( - 5,250) ( 28,051) ( - 65,632 65,632 5,000,000 112,268 $ 36,459,324 $ 2020 Bonds payable Lease liabilities Liabilities from financing activities- gross 5,000,000 $ - $ 48,011,448 $ 200,000 7,614) ( 6,862,446) ( - 6,607 765,484) ( - 66,910 66,910 5,200,000 $ 65,903 $ 40,450,428 $ 2019
	8,426,966 $ 1,030,217 228,754) ( - 9,228,429 $		5,000,000 $ 200,000 - -	48,011,448 $ 6,862,446) ( 765,484) ( 66,910 40,450,428 $
			5,200,000 $

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7. RELATED PARTY TRANSACTIONS

(1) Names of related parties and relationship

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Names of related parties Relationship with the Company
----- End of picture text -----

Names of related parties	Relationship withthe Company
Kent Hsu	Chairman
Changchun-hong Hyatt Hotel Management Co., Ltd.	Other related party
Chicony Energy Saving Technology (Shanghai) Co., Ltd.	Other related party
Chicony Electronics (Suzhou) Co., Ltd.	Other related party
Chicony Power Technology Co., Ltd.	Other related party
Honghui Real Estate Company	Other related party
Chicony Dalu Enterprise (Chengdu) Co., Ltd.	Associate
Chicony Square (Wuhan) Inc.	Associate
Chicony Industry (Wuhan) Co., Ltd.	Associate
Chicony Square (Wuhan) Inc.	Associate
Chicony Square (Cayman) Inc.	Associate
Epoque Corporation	Same chairman
Taipei Twin Corporation	Entity with joint control over this
	entity

(2) Significant related party transactions

A. Operating revenue

nificant related party transactions Operating revenue
Sales of goods: -Associates -Entity with joint control over this entity Sales of services: -Other related parties -Associates	December31,2020 December 31, 2019 - $ 31,762 $ 374 - 374 $ 31,762 $ - 48 - 1,815 374 $ 33,625 $ Yearended
		31,762 $ -
		31,762 $ 48 1,815
		33,625 $

The Group (Buynow (China)) offered the services to related parties.

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B. Purchases

	Year	ended
	December31,2020	December31,2019
Purchases of goods:
-Other related parties	888,486 $	938,107 $

The purchases of the Group’s subsidiary, Kapok Computer (Kunshan), from other related parties are unique. Accordingly, the purchase prices are incomparable and payment terms are the same with third parties, which are within 1 ~ 5 months.

C. Receivables from related parties

Accounts receivable: -Associates	December31,2020 December31,2019 - $ 1,022 $

Receivables from related parties are mainly from selling goods and providing services to related parties. The receivables do not bear interest and were not pledged as collateral.

D. Payables to related parties

Payables to related parties
Accounts payable: -Chicony Electronics (Suzhou) Co., Ltd. -Chicony Power Technology Co., Ltd.	December31,2020 185,676 $ 56,498 242,174 $	December31,2019
		203,213 $ 114,878
		318,091 $

The payables to related parties arise mainly from purchase transactions. The payables bear no interest.

E. Other receivables from related parties (shown as other current asset)

interest. Other receivables from related parties	(shown as other current asset)	(shown as other current asset)
	December31,2020		December	31,2019
Other receivables:
-Chicony Dalu Enterprise	$	15,310	$	14,622
(Chengdu) Co., Ltd.
-Chicony Industry (Wuhan)		215,298		-
Co., Ltd.
Others		-		3,204
	$	230,608	$	17,826
Advance receipts from disposals of property (shown as other current liabilities)
	December31,2020		December	31,2019
Chicony Industry (Wuhan) Co., Ltd.	$	-	$	1,458,310

F. Advance receipts from disposals of property (shown as other current liabilities)

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G. Property transactions

• (a) Disposal of property, plant and equipment:

		Year ended December 31, 2019	Year ended December 31, 2019
	Disposal proceeds		Gain(loss)on disposal
Chicony Industry (Wuhan) Co., Ltd.	$	47,971	$	2,394
Chicony Dalu Enterprise (Chengdu)
Co., Ltd.		108,776		2,820
	$	156,747	$	5,214

• (b) Disposal of non-current asset held for sale:

Chicony Industry (Wuhan) Co., Ltd.

Year ended December 31, 2020 Disposal proceeds Gain (loss) on disposal $ 3,875,368 $ -

The transaction price of non-current asset held for sale was determined based on the professional appraisal report.

• (c) Disposal of other assets:

Chicony Dalu Enterprise (Chengdu) Co., Ltd.	Accounts Intangible assets	Disposalproceeds Gain(loss)on disposal 1,518 $ - $ YearendedDecember31,2019

• H. Loans from related parties

Loans from related parties

Loans from related parties Loans from related parties
Chicony Square (Cayman) Inc. Honghui Real Estate Company Chicony Square (Wuhan) Inc.	December31,2020 396,154 $ - - 396,154 $	December31,2019
		424,269 $ 215,650 12,940
		652,859 $

The loans from associates and other related parties are payable at maturity within 1~5 years after the loan is made and carry interest at 0%~5.78% and 0%~5.78% per annum for the years ended December 31, 2020 and 2019, respectively. The amount of interest payable (recognised as other payables) as of December 31, 2020 and 2019 was $0 and $2,171, respectively. Additionally, interest expense recognised for the years ended December 31, 2020 and 2019 was $6,518 and $5,933 respectively.

I. Lease transactions - lessee

• (a) The Group leased buildings from Honghui Real Estate Company for the year ended December 31, 2019. Rental contracts are typically made for a period of 5 years. The lease is subject to IFRS 16 as the usage of lease was included in the operating plan. Rents are paid at the end of

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the month.

(b) Acquisition of right-of-use assets:

December 31, 2020 December 31, 2019 Other related parties $ - $ 74,442

In accordance with IFRS 16, the Group increased right-of-use assets by $74,442 on July 1, 2019.

• (c) Rent expense

Rent expense
Lease liabilities (i) Outstanding balance: (ii) Interest expense Other related parties Other related parties Other related parties	December31,2020 December31,2019 - $ 11,159 $ Years ended December31,2020 December 31, 2019 56,273 $ 65,903 $ Year ended
	December31,2020 December 31, 2019 3,971 $ 1,007 $

• (d) Lease liabilities

J. Others

• (a)The joint guarantor and co-issuer of the guarantee notes of bank borrowings is Kent Hsu for the years ended December 31, 2020 and 2019.

• (b) The Company and EPOQUE CORPORATION participated in the land development project of Taipei City Western District Gateway Project-Taipei Main Station Special Zone C1/D1 (Eastern Part) to jointly establish TAIPEI TWIN CORPORATION. The related information is provided in Note 6(5).

(3) Key management compensation

in Note 6(5). Key management compensation
Salaries and other short-term employee benefits Post-employment benefits	Yearended
	December31,2020 79,839 $ 1,233 81,072 $	December31,2019
		98,923 $ 1,277
		100,200 $

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8. PLEDGED ASSETS

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

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Book value
Pledged asset December 31, 2020 December 31, 2019 Purpose
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Inventories Financial assets at amortised cost (current and non- current) Property, plant and equipment (non-depreciated balance) Investment property and right-of-use asset (long-term prepaid rents)	- $ 1,862,669 2,731,419 55,477,346 60,071,434 $	1,059,844 $ Long-term borrowings 1,694,289 STANDBY L/C, long-term and short-term borrowings 3,758,135 Long-term borrowings 61,269,162 Long-term and short-term borrowings 67,781,430 $

9. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNISED CONTRACT

COMMITMENTS

(1) Contingencies

None.

(2) Commitments

• A. As of December 31, 2020 and 2019, the Company issued guarantee notes amounting to $25,673,888 and $25,081,970, respectively, for bank repayment and forward exchange trading.

• B. On December 28, 2018, the Company entered into a syndicated loan agreement with 9 banks including Taiwan Cooperative Bank amounting to $6,000,000 and provided equal amount of guarantee notes. The Company and the Chairman of the Group are the joint guarantors and coissuers of the guarantee notes.

• C. As of December 31, 2020 and 2019, the Group’s total contract prices for signed construction contracts amounted to $8,031,345 and $7,992,848 of which $7,395,801 and $7,327,890 were paid and $635,544 and $664,958 remain unpaid, respectively.

10. SIGNIFICANT DISASTER LOSS

None.

11. SIGNIFICANT EVENTS AFTER THE BALANCE SHEET DATE

• The Board of Directors has resolved the appropriation of 2020 earnings on March 26, 2021. Details are provided in Note 6(20) F.

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12. OTHERS

• (1) Due to the impact of Covid-19, the Group resumed work and operations entirely from the second quarter of 2020. Although the operating revenue of certain business segments decreased for the year ended December 31, 2020, the Covid-19 pandemic has no significant impact on the Group’s financial condition and financial performance as the Group has properly controlled its costs.

• (2) Capital management

The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern in order to provide returns for shareholders and to maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt. The Group monitors capital on the basis of the gearing ratio. This ratio is calculated as net debt divided by total capital. Net debt is calculated as total borrowings (including ‘current and non-current borrowings’ as shown in the consolidated balance sheet) less cash and cash equivalents. Total capital is calculated as ‘equity’ as shown in the consolidated balance sheet plus net debt.

During the year ended December 31, 2020, the Group’s strategy, which was unchanged from 2019, was to maintain the gearing ratio within 40% to 60%. The gearing ratios at December 31, 2020 and 2019 were as follows:

2019 were as follows:
		December31,2020			December 31, 2019
Total borrowings		$	36,547,055		$	40,384,525
Less: Cash and cash equivalents	(		4,918,051)	(		8,047,784)
Net debt			31,629,004			32,336,741
Total equity			39,879,138			39,795,261
Total capital		$	71,508,142		$	72,132,002
Gearing ratio			44%			45%

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(3) Financial instruments

A. Financial instruments by category

==> picture [456 x 240] intentionally omitted <==

----- Start of picture text -----

December 31, 2020 December 31, 2019
Financial assets
Financial assets at fair value
through profit or loss $ 1,609,467 $ 1,022,194
Financial assets at amortised
cost 9,426,834 11,819,345
$ 11,036,301 $ 12,841,539
Financial liabilities
Financial liabilities at fair value
through profit or loss $ 15,781 $ 1,008
Financial liabilities at
amortised cost 41,056,849 45,639,071
$ 41,072,630 $ 45,640,079
Lease liability $ 112,268 $ 65,903
----- End of picture text -----

• Note: Financial assets at amortised cost include cash and cash equivalents, accounts receivable (including related parties), other receivables, guarantee deposits paid and time deposits unqualified as cash equivalents; financial liabilities at amortised cost include short-term borrowings, accounts payable (including related parties), notes payable, other payables (including related parties), corporate bonds payable, long-term borrowings (including current portion), guarantee deposits received and long-term accounts payable to related parties.

• B. Financial risk management policies

• The Group’s activities expose it to a variety of financial risks: market risk (including foreign exchange risk, interest rate risk and price risk), credit risk and liquidity risk. To minimize any adverse effects on the financial performance of the Group, derivative financial instruments, such as foreign exchange forward contracts and foreign currency option contracts are used to hedge certain exchange rate risk.

• C. Significant financial risks and degrees of financial risks

• (a) Market risk

Foreign exchange risk

• i. The Group operates internationally and is exposed to foreign exchange risk arising from the transactions of the Company and its subsidiaries used in various functional currency, primarily with respect to the USD and RMB. Foreign exchange risk arises from future commercial transactions and recognised assets and liabilities.

• ii. Management has set up a policy to require group companies to manage their foreign exchange risk against their functional currency. The companies are required to hedge their

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entire foreign exchange risk exposure with the Group treasury. Exchange rate risk is measured through a forecast of highly probable USD and RMB expenditures. Forward foreign exchange contracts are adopted to minimize the volatility of the exchange rate affecting cost of forecast inventory purchases.

• iii. The Group hedges foreign exchange rate by using forward exchange contracts. However, the Group does not adopt hedging accounting. Details of financial assets or liabilities at fair value through profit or loss are provided in Note 6(2).

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

as follows:	as follows:
g currency amount (In thousands) Exchange rate Book value (NTD) Financial assets Monetary items USD:NTD 252,434 $ 28.10 7,093,395 $ USD:RMB 448 6.52 12,589 RMB:NTD 28,169 4.31 121,408 Investments accounted for using USD:NTD 87,583 28.10 2,461,071 Financial liabilities Monetary items USD:NTD 28,789 28.10 808,971 USD:RMB 197,474 6.52 5,549,256 December31,2020 (Foreign currency: functional currency)
	7,093,395 $ 12,589 121,408 2,461,071 808,971 5,549,256

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----- Start of picture text -----

December 31, 2019
Foreign currency
amount Book value
(In thousands) Exchange rate (NTD)
(Foreign currency: functional currency)
Financial assets
Monetary items
USD:NTD $ 283,362 30.09 $ 8,526,363
USD:RMB 1,788 6.98 53,790
RMB:NTD 184,431 4.31 794,898
HKD:NTD 8,710 3.86 33,621
JPY:NTD 7,263,428 0.28 2,033,760
Investments accounted for using
the equity method
USD:NTD 114,007 30.09 2,431,007
Financial liabilities
Monetary items
USD:NTD 18,212 30.09 547,999
USD:RMB 193,362 6.98 5,817,064
----- End of picture text -----

• v. The total exchange gain (loss), including realized and unrealized, arising from significant foreign exchange variation on the monetary items held by the Group for the years ended December 31, 2020 and 2019 amounted to ($244,081) and ($358,224), respectively.

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

variation:
Degree of variation Effect on profit or loss Effect on other comprehensive income Financial assets Monetary items USD:NTD 1% 56,747 $ - $ USD:RMB 1% 101 - RMB:NTD 1% 971 - Financial liabilities Monetary items USD:NTD 1% 6,472 - USD:RMB 1% 44,394 - YearendedDecember31,2020 Sensitivity analysis (Foreign currency: functional currency)		YearendedDecember31,2020
			Effect on profit or loss Effect on other comprehensive income 56,747 $ - $ 101 - 971 - 6,472 - 44,394 - Sensitivity analysis
		Degree of variation	Effect on profit or loss
			56,747 $ 101 971 6,472 44,394	- $ - - - -

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Year ended December 31, 2019

Sensitivity analysis

		Effect on other
Degree of	Effect on	comprehensive
variation	profit or loss	income

(Foreign currency: functional currency)

Financial assets
Monetary items
USD:NTD	1%	$	68,211	$	-
USD:RMB	1%		430		-
RMB:NTD	1%		6,359		-
HKD:NTD	1%		260		-
JPY:NTD	1%		16,270		-
Financial liabilities
Monetary items
USD:NTD	1%		4,384		-
USD:RMB	1%		46,537		-

Price risk

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

• ii.The Group’s investments in equity securities comprise shares and open-end funds issued by the domestic and foreign companies. The prices of financial securities would change due to the change of the future value of investee companies. If the prices of these financial securities had increased/decreased by 1% with all other variables held constant, post-tax profit for the years ended December 31, 2020 and 2019 would have increased/decreased by $15,168 and $10,136, respectively, as a result of gains/losses on financial securities classified as at fair value through profit or loss.

• Cash flow and fair value interest rate risk

• i.The Group’s main interest rate risk arises from long-term borrowings with variable rates, which expose the Group to cash flow interest rate risk. During the years ended December 31, 2020 and 2019, the Group’s borrowings at variable rate were mainly denominated in New Taiwan dollars, US dollars, RMB dollars, and JPY dollars.

• ii.The Group’s borrowings are measured at amortized cost. The borrowings are periodically contractually repriced and to that extent are also exposed to the risk of future changes in market interest rates.

• iii.If the borrowing interest rate had increased/decreased by 1% with all other variables held

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constant, profit, net of tax for the years ended December 31, 2020 and 2019 would have decreased/increased by $246,183 and $276,327, respectively. The main factor is that changes in interest expense result from floating rate borrowings.

• (b) Credit risk

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

• ii.According to the Group’s credit policy, each local entity in the Group is responsible for managing and analyzing the credit risk for each of their new clients before standard payment and delivery terms and conditions are offered. Internal risk control assesses the credit quality of the customers, taking into account their financial position, past experience and other factors.

• iii.Individual risk limits are set based on internal or external ratings in accordance with limits set by the credit department. The utilization of credit limits is regularly monitored.

• iv.For banks and financial institutions, only independently rated parties with a best rating are accepted.

• v.The Group adopts the following assumptions under IFRS 9 to access whether there has been a significant increase in credit risk on that instrument since initial recognition:

• (i) If the contract payments were past due over 30 days based on the terms, there has been a significant increase in credit risk on that instrument since initial recognition.

• (ii) For investments in bonds that are traded over the counter, if any external credit rating agency rates these bonds as investment grade, the credit risk of these financial assets is low.

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

• vii.The following indicators are used to determine whether the credit impairment of debt instruments has occurred:

• (i) It becomes probable that the issuer will enter bankruptcy or other financial reorganization due to their financial difficulties;

• (ii) The disappearance of an active market for that financial asset because of financial difficulties;

• (iii) Default or delinquency in interest or principal repayments;

• (iv) Adverse changes in national or regional economic conditions that are expected to cause a default.

• viii.The Group classifies customer’s accounts receivable in accordance with customer types. The Group applies the modified approach using provision matrix to estimate expected credit loss.

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• ix.The Group wrote-off the financial assets, which cannot be reasonably expected to be recovered, after initiating recourse procedures. However, the Group will continue executing the recourse procedures to secure their rights. On December 31, 2020 and 2019, the Group had no written-off financial assets that are still under recourse procedures.

• x.The Group used the forecastability to adjust historical and timely information to assess the default possibility of accounts receivable, contract assets and lease payments receivable. On December 31, 2020 and 2019, the provision matrix is as follows:

At December 31, 2020 Expected loss rate Total book value Loss allowance Expected loss rate Total book value Loss allowance At December 31, 2019 Expected loss rate Total book value Loss allowance Expected loss rate Total book value Loss allowance	Not past due	1~90 days past due	91~180 days past due 10.28%~47.11% 17,220 $ 1,105 Total
	0.04%~6.09% 1,727,638 $ 685 181~270 days past due	0.08%~32.16% 493,667 $ 355 Over 270 days
	70.54%~100% 18,866 $ 6,336 Not past due	100% 30,787 $ 30,787 1~90 days past due	2,288,178 $ 39,268 91~180 days past due
	0.03%~0.05% 1,652,030 $ 772 181~270 days past due	0.03%~59.94% 342,109 $ 13,835 Over 270 days	0.03%~72.42% 19,222 $ 3,129 Total
	0.03%~100% 4,403 $ 2,035	100% 28,933 $ 28,933	2,046,697 $ 48,704

xi.Movements in relation to the Group applying the modified approach to provide loss allowance for accounts receivable is as follows:

			Accounts	receivable
			2020	2019
At January 1		$	48,704	$	55,572
Provision for impairment			2,132		-
Reversal of impairment			-	(	5,026)
Write-offs	(		11,211)
Effect of foreign exchange	(		357)	(	1,842)
At December 31		$	39,268	$	48,704

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(c) Liquidity risk

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

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

undiscounted cash flows.
December31,2020 Less than 1 year Lease liability 21,234 $ Bonds payable 40,000 Long-term borrowings 6,756,454 (including current portion) Guarantee deposits received - Long-term accounts payable to related parties - Forward foreign exchange contracts 15,781 Non-derivative financial liabilities Derivative financial liabilities December31,2019 Less than 1 year Lease liability 14,095 $ Bonds payable 240,000 Long-term borrowings 5,109,333 (including current portion) Guarantee deposits received - Long-term accounts payable to related parties - Non-derivative financial liabilities	Less than 1 year	Between 1 and 2years	Between 2 and5 years	Over5 years 77,913 $ - 1,836,279 - - - Over5 years - $ - 1,879,124 - -
		21,234 $ 40,000 5,387,367 679,593 - - Between 1 and2years 14,816 $ 40,000 6,795,065 693,756 -	37,903 $ 5,065,973 11,377,894 - 396,154 - Between 2 and 5 years 40,441 $ 5,120,000 13,232,231 - 424,269

Except for the abovementioned, the non-derivative financial liabilities of the Group are all expiring within one year.

iii. The Group does not expect the maturity date will be early, or the actual amount will be different.

(3) Fair value information

• A. The different levels that the inputs to valuation techniques are used to measure fair value of

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financial and non-financial instruments have been defined as follows:

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

• Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. The fair value of the Group’s investment in offthe-run beneficiary certificates, bank debentures, convertible bonds and derivative instruments is included in Level 2.

• Level 3: Unobservable inputs for the asset or liability. The fair value of the Group’s investment in investment property is included in Level 3.

• B. Financial instruments not measured at fair value

• The carrying amounts of cash and cash equivalents, accounts receivable (including related parties), other receivables, financial assets at amortised cost, short-term borrowings, accounts payable (including related parties), other payables, corporate bonds payable, long-term borrowings (including current portion) and long-term accounts payable to related parties financial liabilities are approximate to their fair values.

• C. The related information on financial and non-financial instruments measured at fair value by level on the basis of the nature, characteristics and risks of the assets and liabilities at December 31, 2020 and 2019 is as follows:

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

December31,2020 Assets Recurring fair value measurements Financial assets at fair value through profit or loss Equity securities Forward foreign exchange contracts Beneficiary certificates Investment property (Note 1) Liabilities Recurring fair value measurements Forward foreign exchange contracts	Level 1 Level 2 668,976 $ - $ - 9,351 110,144 820,996 - - - 15,781) ( 779,120 $ 814,566 $	Level3 Total - $ 668,976 $ - 9,351 - 931,140 63,638,847 63,638,847 - 15,781) ( 63,638,847 $ 65,232,533 $

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==> picture [441 x 244] intentionally omitted <==

----- Start of picture text -----

December 31, 2019 Level 1 Level 2 Level 3 Total
Assets
Recurring fair value measurements
Financial assets at fair value
through profit or loss
- -
Equity securities $ 624,112 $ $ $ 624,112
-
Beneficiary certificates 10,000 388,082 398,082
- -
Investment property (Note 1) 63,013,015 63,013,015
Non-recurring fair value measurements
Non-current assets held for sale - - 3,786,016 3,786,016
(Note 2)
Liabilities
Recurring fair value measurements
Forward foreign exchange
contracts - ( 1,008) - ( 1,008)
$ 634,112 $ 387,074 $66,799,031 $ 67,820,217
----- End of picture text -----

• Note 1 : Investment property measured at fair value.

• Note 2: Under IFRS 5, assets held for sale must be measured at fair value less costs to sell when the fair value less the cost to sell is lower than the carrying amount.

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

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

==> picture [423 x 41] intentionally omitted <==

• ii. Except for financial instruments with active markets, the fair value of other financial instruments is measured by using valuation techniques or by reference to counterparty quotes. The fair value of financial instruments measured by using valuation techniques can be referred to current fair value of instruments with similar terms and characteristics in substance, discounted cash flow method or other valuation methods, including calculated by applying model using market information available at the consolidated balance sheet date (i.e. yield curves on the Taipei Exchange, average commercial paper interest rates quoted from Reuters).

• iii. When assessing non-standard and low-complexity financial instruments, for example, debt instruments without active market, interest rate swap contracts, foreign exchange swap contracts and options, the Group adopts valuation technique that is widely used by market participants. The inputs used in the valuation method to measure these financial instruments are normally observable in the market.

• iv. The valuation of derivative financial instruments is based on valuation model widely

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accepted by market participants, such as present value techniques and option pricing models. Forward exchange contracts are usually valued based on the current forward exchange rate.

• v. The fair value, calculated based on the sales price less costs to sell, is used by the Group to measure its assets held for disposal.

• vi. The output of valuation model is an estimated value and the valuation technique may not be able to capture all relevant factors of the Group’s financial and non-financial instruments. Therefore, the estimated value derived using valuation model is adjusted accordingly with additional inputs, for example, model risk or liquidity risk and etc. In accordance with the Group’s management policies and relevant control procedures relating to the valuation models used for fair value measurement, management believes adjustment to valuation is necessary in order to reasonably represent the fair value of financial and non-financial instruments at the consolidated balance sheet. The inputs and pricing information used during valuation are carefully assessed and adjusted based on current market conditions.

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

• D. For the years ended December 31, 2020 and 2019, there was no transfer between Level 1 and Level 2.

• E. The movement of Level 3 of investment property for the years ended December 31, 2020 and 2019 is provided in Note 6(9).

• F. For the years ended December 31, 2020 and 2019, there was no transfer into or out from Level 3.

• G. Financial and Administrative segment is in charge of valuation procedures for fair value measurements being categorised within Level 3 (investment property), which is based on the valuation methods and assumptions announced by the Financial Supervisory Commission, Securities and Futures Bureau or through outsourced appraisal performed by the external valuer. The Group sets up valuation policies, valuation processes, and rules for measuring fair value of investment property and ensures compliance with the related requirements in IFRS.

• H. The following is the qualitative information on significant unobservable inputs and sensitivity analysis of changes in significant unobservable inputs to valuation model used in Level 3 fair value measurement:

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Fair value at December 31, 2020 Valuation technique Significant unobservable input Investment property 63,638,847 $ Income approach of discounted cash flow method Long-term rent revenue growth rate and discount rate	Range (weighted average) Relationship of inputs to fair value (Note 1) The higher the long- term rent revenue growth rate, the higher the fair value; The higher the discount rate, the lower the fair value

Note 1: The range of long-term rent revenue growth rate is (10%)~20%; the range of discount rate is provided in Note 6(9).

Investment property Non- current assets held for sale: (Note 2) Property, plant and equipment	Fair value at December 31, 2019	Valuation technique	Significant unobservable input	Range (weighted average)	Relationship of inputs to fair value
	63,013,015 $ 3,786,016	Income approach of discounted cash flow method Market comparison approach	Long-term rent revenue growth rate and discount rate Not applicable	(Note 1)	The higher the long- term rent revenue growth rate, the higher the fair value; The higher the discount rate, the lower the fair value Not applicable

Note 1: The range of long-term rent revenue growth rate is (10%)~20%; the range of discount rate is provided in Note 6(9).

Note 2: The lower of carrying amount and fair value less costs to sell.

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13. SUPPLEMENTARY DISCLOSURES

(1) Significant transactions information

• The disclosures of investee companies were based on financial statements reviewed by independent auditors and the following transactions with subsidiaries were eliminated when preparing the consolidated financial statements. The following disclosure information is for reference only. A. Loans to others: Please refer to table 1.

• B. Provision of endorsements and guarantees to others: Please refer to table 2.

• C. Holding of marketable securities at the end of the period (not including subsidiaries, associates and joint ventures): Please refer to table 3.

• D. Acquisition or sale of the same security with the accumulated cost exceeding $300 million or 20% of the Company’s paid-in capital: None.

• E. Acquisition of real estate reaching $300 million or 20% of paid-in capital or more: Please refer to table 4.

• F. Disposal of real estate reaching $300 million or 20% of paid-in capital or more: Please refer to table 5.

• G. Purchases or sales of goods from or to related parties reaching $100 million or 20% of paid-in capital or more: Please refer to table 6.

• H. Receivables from related parties reaching $100 million or 20% of paid-in capital or more: Please refer to table 7.

• I. Trading in derivative instruments undertaken during the reporting periods: As of December 31, 2020, the Group’s open interest derivative instruments amounted to ($15,781). The Group recognised net loss amounting to $15 on derivative instruments for the year ended December 31, 2020.

• J. Significant inter-company transactions during the reporting periods: Please refer to table 8.

• (2) Information on investees

Names, locations, and other information of investee companies (not including investees in Mainland China) ： Please refer to table 9.

• (3) Information on investments in Mainland China

• A. Basic information: Please refer to table 10.

• B. Ceiling on investments in Mainland China: Please refer to table 10.

• C. Significant transactions, price, payment term and unrealized gain or loss, either directly or indirectly through a third area, with investee companies in the Mainland Area: Significant sales (purchases), property transactions, accounts receivable (payable), provision of endorsements and guarantees from notes or provides collaterals and accommodation of funds for the year ended December 31, 2020, either directly or indirectly through a third area, with investee companies in the Mainland Area are provided in Notes 13(1) A, B, E, G, H, J.

(4) Major shareholders information

Major shareholders information: Please refer to table 11.

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14. SEGMENT INFORMATION

(1) General information

Management has determined the reportable operating segments based on the reports reviewed by the chief operating decision maker-Board of Directors that are used to make strategic decisions. The Group’s main operating businesses are manufacturing and trading of computer and computer peripherals; research and development, production, and sales of computer software and hardware; after-sales services for aforementioned products and property management. The product features and manufacturing procedures are different so that its marketing and selling ways are different. The chief operating decision-maker operates various businesses from the perspective of different products. Currently, businesses are mainly divided into computer segment, Buynow Plaza and other segments, of which computer segment and Buynow Plaza are the reportable segments.

(2) Measurement of segment information

The Group’s accounting policies of operating segments are the same as Note 4. Management has determined the Group’s operating segment profit or loss is measured based on operating income before tax (not including extraordinary profit and loss) for performance assessment basis. The Group considers the sale and transfer among segments as transactions with third parties. Reporting amount and reports for operating decision-maker are the same.

(3) Information about segment profit or loss, assets and liabilities

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

is as follows:
		Computer
Year ended December 31, 2020		Segment	BuynowPlaza			Others		Total
Revenue from external customers	$	16,212,628	$	4,025,362	$	956	$	20,238,946
Inter-segment revenue		10,976,081		-		-		10,976,081
Total segment revenue	$	27,188,709	$	4,025,362	$	956	$	31,215,027
External-segment income (before tax)	$	241,699	$	446,349	$	8,157	$	696,205
Segment income (after tax)	$	487,928	$	170,633	$	8,383	$	666,944
Segment income (loss), including
Interest income	$	48,802	$	18,939	$	2	$	67,743
Interest expense	($	636,780)	($	271,851)	$	-	($	908,631)
Depreciation and amortisation	$	69,743	$	232,105	$	-	$	301,848
Income tax expense (benefit)	$	118,613	($	89,214)	($	138)	$	29,261

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Computer
Year ended December 31, 2019 Segment Buynow Plaza Others Total
Revenue from external customers $ 15,376,563 $ 6,422,332 $ 101,767 $ 21,900,662
Inter-segment revenue 11,615,684 7,635 ( 692) 11,622,627
Total segment revenue $ 26,992,247 $ 6,429,967 $ 101,075 $ 33,523,289
External-segment income (before tax) $ 264,806 $ 1,429,007 $ 65,819 $ 1,759,632
Segment income (after tax) $ 445,484 $ 564,310 $ 64,070 $ 1,073,864
Segment income (loss), including
Interest income $ 159,437 $ 42,086 $ 27 $ 201,550
Interest expense ($ 739,392) ($ 360,558) $ 5,954 ($ 1,093,996)
Depreciation and amortisation $ 87,772 $ 212,656 $ - $ 300,428
Income tax expense $ 198,250 $ 484,210 $ 3,308 $ 685,768
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(4) Reconciliation for segment income (loss)

A reconciliation of reportable segment revenue and total revenue, and a reconciliation of reportable

segment income or loss and total income or loss before tax is provided as follows:

Revenue	December 31, 2020 December 31, 2019 31,214,071 $ 33,422,214 $ 956 101,075 10,976,081) ( 11,622,627) ( 20,238,946 $ 21,900,662 $ Year ended December31,2020 December 31, 2019 658,561 $ 1,009,794 $ 8,383 64,070 - - 666,944 $ 1,073,864 $ Yearended December31,2020 December31,2019 16,212,628 $ 15,376,562 $ 2,425,737 2,970,488 837,973 2,596,326 55,530 92,901 707,078 864,385 20,238,946 $ 21,900,662 $ Yearended
Information on products and services Reportable segments revenue Other segments revenue Elimination of intersegment revenue Total revenue Income/(Loss) Reportable segments income (after tax) Other segments income (after tax) Elimination of intersegment transactions Income after tax from continuing operations Sales revenue of computer products Rental revenue Land development and resale from Buynow Hotel revenue Other revenue
	December31,2020 16,212,628 $ 2,425,737 837,973 55,530 707,078 20,238,946 $

(5) Information on products and services

~121~

(6) Geographical information

Geographical information for the years ended December 31, 2020 and 2019 is as follows:

Geographical information Geographical information for the years ended	December 31, 2020 and 2019 is as follows:
Revenue Sales revenue of computer products China Asia-Pasific Europe the Americas Rental revenue China Asia-Pasific Land development and resale China Hotel revenue China Other revenue China Asia-Pasific Total revenue Non-current assets China Taiwan	l December31,2019 4,316,389 $ 6,405,353 $ 6,334,415 4,676,854 4,139,745 2,802,651 1,422,079 1,491,704 16,212,628 15,376,562 2,425,737 2,869,413 - 101,075 2,425,737 2,970,488 837,973 2,596,326 837,973 2,596,326 55,530 92,901 55,530 92,901 707,078 863,692 - 693 707,078 864,385 20,238,946 $ 21,900,662 $ December31,2020 December31,2019 72,665,623 $ 73,217,222 $ 2,280,950 $ 1,948,406 $ Years ended
	December31,2020 72,665,623 $ 2,280,950 $

(7) Major customer information

Major customer information of the Group for the years ended December 31, 2020 and 2019 is as follows:

A B

Years ended	Years ended
December31,2020 Revenue 2,831,723 $ 2,227,798 $	December31,2019
	Revenue
	4,785,403 $
	- $

~122~

Table 1

Expressed in thousands of NTD (Except as otherwise indicated)

CLEVO CO. and Subsidiaries Loans to others Year ended December 31, 2020

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during year ended December 31, 2020 (Note 3)	Balance at December 31, 2020 (Note 8)	Actual amount drawn down	Interest rate	Nature of loan (Note 4)	Amount of transactions with the borrower (Note 5)	Reason for short-term financing (Note 6)	Allowance for doubtful account	Collateral	Collateral	Limit on loans granted to a single party (Note 7)	Ceiling on total loans granted (Note 7)	Footnote
													Item	Value
0	The Company	CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	Other receivables - related parties - current	Yes	1,600,000 $	- $	- $	1.00%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
0	The Company	KAPOK COMPUTER (SAMOA) CORPORATION	Other receivables - related parties - current	Yes	300,000	-	-	1.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
1	Kapok Computer Co., Ltd.	The Company	Other receivables - related parties - current	Yes	55,000	-	-	1.04%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
2	Clevo Investment Co., Ltd.	The Company	Other receivables - related parties - current	Yes	49,000	-	-	1.04%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
3	CLEVO COMPUTER SINGAPORE PTD LTD.	The Company	Other receivables - related parties - non- current	Yes	109,574	-	-	0.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
4	CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	Buynow Electronic Information (Hangzhou) Co., Ltd.	Other receivables - related parties - current	Yes	126,432	-	-	6 months LIBOR+2.5 %,3.5%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
4	CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW(GUANGZH OU) CORPORATION	Other receivables - related parties - current	Yes	126,432	-	-	2.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
4	CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	56,192	-	-	3.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
4	CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (HARBIN) CORPORATION	Other receivables - related parties - current	Yes	82,883	-	-	2.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
4	CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	Daqing Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	84,288	-	-	3.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
4	CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	Zibo Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	84,288	-	-	2.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
4	CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (TAIZHOU) CORPORATION	Other receivables - related parties - current	Yes	182,624	-	-	3.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
4	CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	Kunshan Kaishuo Trading Co., Ltd.	Other receivables - related parties - non- current	Yes	150,709	-	-	3.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8

Table 1 Page 1

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during year ended December 31, 2020 (Note 3)	Balance at December 31, 2020 (Note 8)	Actual amount drawn down	Interest rate	Nature of loan (Note 4)	Amount of transactions with the borrower (Note 5)	Reason for short-term financing (Note 6)	Allowance for doubtful account	Collateral	Collateral	Limit on loans granted to a single party (Note 7)	Ceiling on total loans granted (Note 7)	Footnote
													Item	Value
5	Buynow Electronic Information (Hangzhou) Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	Other receivables - related parties - current	Yes	121,213 $	121,213 $	121,213 $	5.00%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
5	Buynow Electronic Information (Hangzhou) Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	252,889	252,889	252,889	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
5	Buynow Electronic Information (Hangzhou) Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	80,091	80,091	80,091	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
5	Buynow Electronic Information (Hangzhou) Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	181,927	171,162	171,162	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
5	Buynow Electronic Information (Hangzhou) Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	131,763	131,763	131,763	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
6	Buynow (Chengdu) Electronic Information Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	Other receivables - related parties - current	Yes	43,060	29,496	29,496	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
6	Buynow (Chengdu) Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	346,200	346,200	346,200	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
6	Buynow (Chengdu) Electronic Information Co., Ltd.	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Other receivables - related parties - current	Yes	283,466	238,253	238,253	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
6	Buynow (Chengdu) Electronic Information Co., Ltd.	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Other receivables - related parties - current	Yes	8,612	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
6	Buynow (Chengdu) Electronic Information Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	148,125	148,125	148,125	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
6	Buynow (Chengdu) Electronic Information Co., Ltd.	Buynow Electronic Information (Hui zhou) Co., Ltd	Other receivables - related parties - current	Yes	129,523	129,523	129,523	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
6	Buynow (Chengdu) Electronic Information Co., Ltd.	Shantou Buynow Mall Co., Ltd.	Other receivables - related parties - current	Yes	25,836	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
6	Buynow (Chengdu) Electronic Information Co., Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	21,530	21,530	21,530	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8

Table 1 Page 2

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during year ended December 31, 2020 (Note 3)	Balance at December 31, 2020 (Note 8)	Actual amount drawn down	Interest rate	Nature of loan (Note 4)	Amount of transactions with the borrower (Note 5)	Reason for short-term financing (Note 6)	Allowance for doubtful account	Collateral	Collateral	Limit on loans granted to a single party (Note 7)	Ceiling on total loans granted (Note 7)	Footnote
													Item	Value
6	Buynow (Chengdu) Electronic Information Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	200,313 $	53,480 $	53,480 $	4.35%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
6	Buynow (Chengdu) Electronic Information Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	280,964	280,964	280,964	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
6	Buynow (Chengdu) Electronic Information Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	38,754	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
6	Buynow (Chengdu) Electronic Information Co., Ltd.	Quanzhou Buynow Industry Co., Ltd.	Other receivables - related parties - current	Yes	36,601	36,601	36,601	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
7	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	Other receivables - related parties - current	Yes	5,813	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
7	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	6,028	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
7	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	341,678	341,678	341,678	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
7	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	174,176	174,176	174,176	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
7	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	30,572	30,572	30,572	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
7	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	98,176	33,587	33,587	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
8	Kapok Computer (Kunshan) Co., Ltd.	Buynow Electronic Information (Hangzhou) Co., Ltd.	Other receivables - related parties - current	Yes	128,748	128,748	128,748	4.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
8	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	Other receivables - related parties - current	Yes	318,426	318,426	318,426	4.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
8	Kapok Computer (Kunshan) Co., Ltd.	Buynow(Guangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	169,224	169,224	169,224	4.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8

Table 1 Page 3

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during year ended December 31, 2020 (Note 3)	Balance at December 31, 2020 (Note 8)	Actual amount drawn down	Interest rate	Nature of loan (Note 4)	Amount of transactions with the borrower (Note 5)	Reason for short-term financing (Note 6)	Allowance for doubtful account	Collateral	Collateral	Limit on loans granted to a single party (Note 7)	Ceiling on total loans granted (Note 7)	Footnote
													Item	Value
8	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	169,311 $	169,311 $	169,311 $	4.50%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
8	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	639,737	639,737	639,737	4.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
8	Kapok Computer (Kunshan) Co., Ltd.	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Other receivables - related parties - current	Yes	172,239	-	-	4.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
8	Kapok Computer (Kunshan) Co., Ltd.	Daqing Buynow Electronic Information Corporation	Other receivables - related parties - current	Yes	96,454	96,454	96,454	4.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
8	Kapok Computer (Kunshan) Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	87,842	87,842	87,842	4.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
8	Kapok Computer (Kunshan) Co., Ltd.	Shantou Buynow Mall Co., Ltd.	Other receivables - related parties - current	Yes	491,397	491,397	491,397	4.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
8	Kapok Computer (Kunshan) Co., Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	172,239	172,239	172,239	4.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
8	Kapok Computer (Kunshan) Co., Ltd.	Yingkou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	81,813	81,813	81,813	4.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
8	Kapok Computer (Kunshan) Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	428,444	428,444	428,444	4.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
8	Kapok Computer (Kunshan) Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	192,046	192,046	192,046	4.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
8	Kapok Computer (Kunshan) Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	545,566	545,566	545,566	4.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
8	Kapok Computer (Kunshan) Co., Ltd.	Kunshan Kaishuo Trading Co., Ltd.	Other receivables - related parties - current	Yes	172,239	172,239	172,239	4.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
9	Buynow (Nanchang) Industry Co., Ltd.	Buynow (Guangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	30,788	30,788	30,788	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8

Table 1 Page 4

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during year ended December 31, 2020 (Note 3)	Balance at December 31, 2020 (Note 8)	Actual amount drawn down	Interest rate	Nature of loan (Note 4)	Amount of transactions with the borrower (Note 5)	Reason for short-term financing (Note 6)	Allowance for doubtful account	Collateral	Collateral	Limit on loans granted to a single party (Note 7)	Ceiling on total loans granted (Note 7)	Footnote
													Item	Value
9	Buynow (Nanchang) Industry Co., Ltd.	Shantou Buynow Mall Co., Ltd.	Other receivables - related parties - current	Yes	172,239 $	- $	- $	5.00%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
9	Buynow (Nanchang) Industry Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	257,841	257,841	257,841	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
9	Buynow (Nanchang) Industry Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	74,579	74,579	74,579	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
9	Buynow (Nanchang) Industry Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	115,400	79,230	79,230	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
9	Buynow (Nanchang) Industry Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	220,465	21,530	21,530	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
9	Buynow (Nanchang) Industry Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	166,296	166,296	166,296	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
10	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	Other receivables - related parties - current	Yes	85,129	85,129	85,129	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
10	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	53,394	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
10	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	198,893	164,660	164,660	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
10	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Beijing Kaiye Electronic Technology Co., Ltd.	Other receivables - related parties - current	Yes	181,367	53,825	53,825	-	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
10	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	86,119	68,895	68,895	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
10	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	75,441	75,441	75,441	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
10	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	177,836	177,836	177,836	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8

Table 1 Page 5

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during year ended December 31, 2020 (Note 3)	Balance at December 31, 2020 (Note 8)	Actual amount drawn down	Interest rate	Nature of loan (Note 4)	Amount of transactions with the borrower (Note 5)	Reason for short-term financing (Note 6)	Allowance for doubtful account	Collateral	Collateral	Limit on loans granted to a single party (Note 7)	Ceiling on total loans granted (Note 7)	Footnote
													Item	Value
10	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	46,504 $	- $	- $	4.35%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
10	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	861	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
11	BUYNOW (GUANGZHOU) CORPORATION	Buynow (Guangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	140,480	-	-	3.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
12	Buynow Electronic Information (Shenyang) Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	Other receivables - related parties - current	Yes	95,808	91,502	91,502	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
12	Buynow Electronic Information (Shenyang) Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	91,717	91,717	91,717	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
12	Buynow Electronic Information (Shenyang) Co., Ltd.	Yingkou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	120,524	113,204	113,204	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
12	Buynow Electronic Information (Shenyang) Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	15,286	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
12	Buynow Electronic Information (Shenyang) Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	41,122 $	41,122 $	41,122 $	4.35%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
12	Buynow Electronic Information (Shenyang) Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	85,516	33,845	33,845	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
13	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	34,017	34,017	34,017	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
13	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	Other receivables - related parties - current	Yes	21,530	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
13	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Buynow (Guangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	57,097	57,097	57,097	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
13	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	81,167	81,167	81,167	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8

Table 1 Page 6

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during year ended December 31, 2020 (Note 3)	Balance at December 31, 2020 (Note 8)	Actual amount drawn down	Interest rate	Nature of loan (Note 4)	Amount of transactions with the borrower (Note 5)	Reason for short-term financing (Note 6)	Allowance for doubtful account	Collateral	Collateral	Limit on loans granted to a single party (Note 7)	Ceiling on total loans granted (Note 7)	Footnote
													Item	Value
13	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Beijing Kaiye Electronic Technology Co., Ltd.	Other receivables - related parties - current	Yes	40,907 $	- $	- $	0.00%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
13	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Daqing Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	236,785	236,785	236,785	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
13	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	Other receivables - related parties - current	Yes	32,295	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
13	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Shantou Buynow Mall Co., Ltd.	Other receivables - related parties - current	Yes	45,213	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
13	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	45,213	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
13	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	36,601	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
13	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Quanzhou Buynow Industry Co., Ltd.	Other receivables - related parties - current	Yes	46,203	46,203	46,203	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
14	Buynow (Xian) Industry Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	30,572	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
15	Buynow (Changchun) Industry Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	Other receivables - related parties - current	Yes	30,142	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
15	Buynow (Changchun) Industry Co., Ltd.	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	21,530	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
15	Buynow (Changchun) Industry Co., Ltd.	Buynow (Guangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	47,323	47,323	47,323	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
15	Buynow (Changchun) Industry Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	163,627	163,627	163,627	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
15	Buynow (Changchun) Industry Co., Ltd.	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Other receivables - related parties - current	Yes	25,836	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8

Table 1 Page 7

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during year ended December 31, 2020 (Note 3)	Balance at December 31, 2020 (Note 8)	Actual amount drawn down	Interest rate	Nature of loan (Note 4)	Amount of transactions with the borrower (Note 5)	Reason for short-term financing (Note 6)	Allowance for doubtful account	Collateral	Collateral	Limit on loans granted to a single party (Note 7)	Ceiling on total loans granted (Note 7)	Footnote
													Item	Value
15	Buynow (Changchun) Industry Co., Ltd.	Daqing Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	21,530 $	17,224 $	17,224 $	4.35%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
15	Buynow (Changchun) Industry Co., Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	51,672	51,672	51,672	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
15	Buynow (Changchun) Industry Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	30,615	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
15	Buynow (Changchun) Industry Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	25,836	25,836	25,836	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
15	Buynow (Changchun) Industry Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	45,213	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
15	Buynow (Changchun) Industry Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	49,519	36,601	36,601	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
15	Buynow (Changchun) Industry Co., Ltd.	Quanzhou Buynow Industry Co., Ltd.	Other receivables - related parties - current	Yes	36,988	36,988	36,988	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
16	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	31,520	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
16	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	74,407	54,600	54,600	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
16	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	79,445	72,986	72,986	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
16	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	107,649	86,119	86,119	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
17	Quality Trust Property Management Co, Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	10,980	-	-	3.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
17	Quality Trust Property Management Co, Ltd.	Daqing Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	167,933	167,933	167,933	3.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8

Table 1 Page 8

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during year ended December 31, 2020 (Note 3)	Balance at December 31, 2020 (Note 8)	Actual amount drawn down	Interest rate	Nature of loan (Note 4)	Amount of transactions with the borrower (Note 5)	Reason for short-term financing (Note 6)	Allowance for doubtful account	Collateral	Collateral	Limit on loans granted to a single party (Note 7)	Ceiling on total loans granted (Note 7)	Footnote
													Item	Value
17	Quality Trust Property Management Co, Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	39,830 $	31,218 $	31,218 $	3.00%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
17	Quality Trust Property Management Co, Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	2,153	-	-	3.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
18	BUYNOW (HARBIN) CORPORATION	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	84,288	-	-	3.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
19	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	6,459	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
19	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	Other receivables - related parties - current	Yes	62,867	62,867	62,867	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
19	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	227,355	227,355	227,355	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
19	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	114,108	96,454	96,454	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
19	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	24,759	23,037	23,037	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
19	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	214,902	110,267	110,267	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
19	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Quanzhou Buynow Industry Co., Ltd.	Other receivables - related parties - current	Yes	5,598	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
19	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	50,810	41,337	41,337	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
20	Wuxi Quntai Property Management Co., Ltd.	Shantou Buynow Mall Co., Ltd.	Other receivables - related parties - current	Yes	7,105	-	-	3.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
20	Wuxi Quntai Property Management Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	22,822	22,822	22,822	3.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8

Table 1 Page 9

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during year ended December 31, 2020 (Note 3)	Balance at December 31, 2020 (Note 8)	Actual amount drawn down	Interest rate	Nature of loan (Note 4)	Amount of transactions with the borrower (Note 5)	Reason for short-term financing (Note 6)	Allowance for doubtful account	Collateral	Collateral	Limit on loans granted to a single party (Note 7)	Ceiling on total loans granted (Note 7)	Footnote
													Item	Value
21	Buynow (Chongqing) Industry Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	Other receivables - related parties - current	Yes	8,612 $	- $	- $	5.00%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
21	Buynow (Chongqing) Industry Co., Ltd.	Shantou Buynow Mall Co., Ltd.	Other receivables - related parties - current	Yes	45,213	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
21	Buynow (Chongqing) Industry Co., Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	68,895	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
21	Buynow (Chongqing) Industry Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	78,799	78,799	78,799	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
22	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	80,952	80,952	80,952	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
22	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Buynow (Nanchang) Industry Co., Ltd.	Other receivables - related parties - current	Yes	37,462	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
22	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	93,009	6,459	6,459	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
22	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	Other receivables - related parties - current	Yes	256,592	256,592	256,592	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
22	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Shantou Buynow Mall Co., Ltd.	Other receivables - related parties - current	Yes	60,284	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
22	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	304,518	227,010	227,010	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
22	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	270,415	270,415	270,415	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
22	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Quanzhou Buynow Industry Co., Ltd.	Other receivables - related parties - current	Yes	26,180	4,650	4,650	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
22	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	238,637	238,637	238,637	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8

Table 1 Page 10

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during year ended December 31, 2020 (Note 3)	Balance at December 31, 2020 (Note 8)	Actual amount drawn down	Interest rate	Nature of loan (Note 4)	Amount of transactions with the borrower (Note 5)	Reason for short-term financing (Note 6)	Allowance for doubtful account	Collateral	Collateral	Limit on loans granted to a single party (Note 7)	Ceiling on total loans granted (Note 7)	Footnote
													Item	Value
22	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Shanghai Huizhuan Restaurant Management Co., Ltd.	Other receivables - related parties - current	Yes	27,989 $	27,989 $	27,989 $	5.00%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
23	Daqing Buynow Electronic Information Co., Ltd.	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	146,403	127,887	127,887	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
24	Tianjin Buynow Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	155,445	155,445	155,445	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
24	Tianjin Buynow Electronic Information Co., Ltd.	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Other receivables - related parties - current	Yes	28,635	13,564	13,564	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
24	Tianjin Buynow Electronic Information Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	56,839	56,839	56,839	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
24	Tianjin Buynow Electronic Information Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	Other receivables - related parties - current	Yes	191,443	191,443	191,443	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
24	Tianjin Buynow Electronic Information Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	137,980	137,980	137,980	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
24	Tianjin Buynow Electronic Information Co., Ltd.	Shantou Buynow Mall Co., Ltd.	Other receivables - related parties - current	Yes	43,060	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
24	Tianjin Buynow Electronic Information Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	60,413	44,050	44,050	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
24	Tianjin Buynow Electronic Information Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	71,479	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
24	Tianjin Buynow Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	144,637	55,934	55,934	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
24	Tianjin Buynow Electronic Information Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	117,983	102,051	102,051	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
25	Zibo Buynow Electronic Information Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	Other receivables - related parties - current	Yes	12,918	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8

Table 1 Page 11

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during year ended December 31, 2020 (Note 3)	Balance at December 31, 2020 (Note 8)	Actual amount drawn down	Interest rate	Nature of loan (Note 4)	Amount of transactions with the borrower (Note 5)	Reason for short-term financing (Note 6)	Allowance for doubtful account	Collateral	Collateral	Limit on loans granted to a single party (Note 7)	Ceiling on total loans granted (Note 7)	Footnote
													Item	Value
26	Buynow (Yancheng) Electronic Information Technology Development Co.,Ltd.	Beijing Kaiye Electronic Technology Co., Ltd.	Other receivables - related parties - current	Yes	21,530 $	21,530 $	21,530 $	0.00%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
26	Buynow (Yancheng) Electronic Information Technology Development Co.,Ltd.	Daqing Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	30,142	30,142	30,142	0.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
26	Buynow (Yancheng) Electronic Information Technology Development Co.,Ltd.	Shantou Buynow Mall Co., Ltd.	Other receivables - related parties - current	Yes	479,469	479,469	479,469	0.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
26	Buynow (Yancheng) Electronic Information Technology Development Co.,Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	124,873	124,873	124,873	0.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
26	Buynow (Yancheng) Electronic Information Technology Development Co.,Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	24,329	24,329	24,329	0.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
27	Beijing Clevo Investment Management Consultant Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	Other receivables - related parties - current	Yes	27,128	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
27	Beijing Clevo Investment Management Consultant Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	Other receivables - related parties - current	Yes	230,800	208,839	208,839	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
27	Beijing Clevo Investment Management Consultant Co., Ltd.	Buynow Electronic Information (Hui zhou) Co., Ltd	Other receivables - related parties - current	Yes	291,514	291,514	291,514	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
27	Beijing Clevo Investment Management Consultant Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	76,388	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
27	Beijing Clevo Investment Management Consultant Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	51,672	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
28	Guangdong Buynow Real Estate Management Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	380,174	371,562	371,562	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
28	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	Other receivables - related parties - current	Yes	374,619	89,779	89,779	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
28	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow (Guangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	59,422	59,422	59,422	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8

Table 1 Page 12

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during year ended December 31, 2020 (Note 3)	Balance at December 31, 2020 (Note 8)	Actual amount drawn down	Interest rate	Nature of loan (Note 4)	Amount of transactions with the borrower (Note 5)	Reason for short-term financing (Note 6)	Allowance for doubtful account	Collateral	Collateral	Limit on loans granted to a single party (Note 7)	Ceiling on total loans granted (Note 7)	Footnote
													Item	Value
28	Guangdong Buynow Real Estate Management Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	Other receivables - related parties - current	Yes	137,619 $	131,160 $	131,160 $	4.35%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
28	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	53,394	53,394	53,394	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
28	Guangdong Buynow Real Estate Management Co., Ltd.	Beijing Kaiye Electronic Technology Co., Ltd.	Other receivables - related parties - current	Yes	7,320	-	-	0.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
28	Guangdong Buynow Real Estate Management Co., Ltd.	Daqing Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	123,237	70,919	70,919	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
28	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow Electronic Information (Hui zhou) Co., Ltd	Other receivables - related parties - current	Yes	188,601	3,014	3,014	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
28	Guangdong Buynow Real Estate Management Co., Ltd.	Shantou Buynow Mall Co., Ltd.	Other receivables - related parties - current	Yes	146,403	-	-	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
28	Guangdong Buynow Real Estate Management Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	24,975	24,975	24,975	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
28	Guangdong Buynow Real Estate Management Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	267,400	252,330	252,330	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
28	Guangdong Buynow Real Estate Management Co., Ltd.	Suzhou Jinzuo Industry Co., Ltd.	Other receivables - related parties - current	Yes	276,271	241,823	241,823	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
28	Guangdong Buynow Real Estate Management Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	90,425	10,765	10,765	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
28	Guangdong Buynow Real Estate Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	198,290	110,663	110,663	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
28	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	356,103	356,103	356,103	4.35%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
29	Shantou Buynow Mall Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	Other receivables - related parties - current	Yes	277,735	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8

Table 1 Page 13

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during year ended December 31, 2020 (Note 3)	Balance at December 31, 2020 (Note 8)	Actual amount drawn down	Interest rate	Nature of loan (Note 4)	Amount of transactions with the borrower (Note 5)	Reason for short-term financing (Note 6)	Allowance for doubtful account	Collateral	Collateral	Limit on loans granted to a single party (Note 7)	Ceiling on total loans granted (Note 7)	Footnote
													Item	Value
29	Shantou Buynow Mall Co., Ltd.	Buynow (Chongqing) Industry Co., Ltd.	Other receivables - related parties - current	Yes	45,213 $	- $	- $	5.00%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
29	Shantou Buynow Mall Co., Ltd.	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Other receivables - related parties - current	Yes	19,377	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
29	Shantou Buynow Mall Co., Ltd.	Daqing Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	646	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
29	Shantou Buynow Mall Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	Other receivables - related parties - current	Yes	129,179	129,179	129,179	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
29	Shantou Buynow Mall Co., Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	135,638	88,272	88,272	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
29	Shantou Buynow Mall Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	338,707	338,707	338,707	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
29	Shantou Buynow Mall Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	103,343	102,051	102,051	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
29	Shantou Buynow Mall Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	430,597	430,597	430,597	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
29	Shantou Buynow Mall Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	304,216	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
29	Shantou Buynow Mall Co., Ltd.	Quality Trust Property Management Co, Ltd.	Other receivables - related parties - current	Yes	1,292	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
30	Clevo (China) Investment Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	172,239	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
30	Clevo (China) Investment Co., Ltd.	Buynow (Chongqing) Industry Co., Ltd.	Other receivables - related parties - current	Yes	294,959	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
30	Clevo (China) Investment Co., Ltd.	Shanghai Buynow Online Information Technology Co., Ltd.	Other receivables - related parties - current	Yes	11,196	11,196	11,196	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8

Table 1 Page 14

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during year ended December 31, 2020 (Note 3)	Balance at December 31, 2020 (Note 8)	Actual amount drawn down	Interest rate	Nature of loan (Note 4)	Amount of transactions with the borrower (Note 5)	Reason for short-term financing (Note 6)	Allowance for doubtful account	Collateral	Collateral	Limit on loans granted to a single party (Note 7)	Ceiling on total loans granted (Note 7)	Footnote
													Item	Value
30	Clevo (China) Investment Co., Ltd.	Buynow Electronic Information (Hui zhou) Co., Ltd	Other receivables - related parties - current	Yes	109,802 $	73,201 $	73,201 $	5.00%	2	-	Additional operating capital	-	-	-	15,951,655 $	39,879,138 $	Note 8
31	BUYNOW (TAIZHOU) CORPORATION	Taizhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	182,624	-	-	3.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
32	Taizhou Buynow Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	75,785	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
33	Dezhou Buynow Electronic Information Co., Ltd.	Quanzhou Buynow Industry Co., Ltd.	Other receivables - related parties - current	Yes	21,874	-	-	5.00%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8
34	Kunshan Kaishuo Trading Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	99,468	88,186	88,186	3.50%	2	-	Additional operating capital	-	-	-	15,951,655	39,879,138	Note 8

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

• (1) The Company is ‘0’.

• (2) The subsidiaries are numbered in order starting from ‘1’.

Note 2: Fill in the name of account in which the loans are recognised, such as receivables–related parties, current account with stockholders, prepayments, temporary payments, etc.

Note 3: Fill in the maximum outstanding balance of loans to others during year ended December 31, 2020.

Note 4: The nature of loans ：

• (1) Related to business transactions is"1".

• (2) short-term financing is "2".

Note 5: In accourdance with the Article 4 of the Company's "Procedured for Provision of Loans" the liait on the loans to a party with business transactions is lower than the amount occurred between the creditor and borrower in the current year when nature of the loan is related to business transactions.

Note 6: Fill in purpose of loan when nature of loan is for short-term financing, for example, repayment of loan, acquisition of equipment, working capital, etc.

Note 7: According to the Company’s “Procedures for Provision of Loans”

• (1) The ceiling on loans granted by the Company to other shall not be more than 40% of the Company's net asstes.

• (2) The limit on loans granted by the Company to a single party shall not be more than 30% of the Company's net assets.

Note 8:According to the Subsidiaries' “Procedures for Provision of Loans”

• (1) The limit on loans granted by a subsidiary to a single party in which the Company directly and indirectly holds 100% of the voting shares shall not be more than 40% of the Company's net assets.

• (2) The ceiling on loans to others in which the Company directly and indirectly holds 100% of the voting shares shall not be more than 100% of the Company's net assets.

• (3) The ceiling on loans to others in which the Company directly and indirectly holds 100% of the voting shares limit to other single party is 40% of the subsidiary's net assets.

• Note 9: The amounts of funds to be loaned to others which have been approved by the board of directors of a public company in accordance with Article 14, Item 1 of the "Regulations Governing Loaning of Funds and

• Making of Endorsements/Guarantees by Public Companies" should be included in its published balance of loans to others at the end of the reporting period to reveal the risk of loaning the public

• company bears, even though they have not yet been appropriated. However, this balance should exclude the loans repaid when repayments are done subsequently to reflect the risk adjustment. In addition, if

• the board of directors of a public company has authorized the chairman to loan funds in instalments or in revolving within certain lines and within one year in accordance with Article 14, Item 2 of the

• “Regulations Governing Loaning of Funds and Making of Endorsements/Guarantees by Public Companies”, the published balance of loans to others at the end of the reporting period should also include these

lines of loaning approved by the board of directors, and these lines of loaning should not be excluded from this balance even though the loans are repaid subsequently, for taking into consideration they could be loaned again thereafter.

Table 1 Page 15

Table 2

Expressed in thousands of NTD (Except as otherwise indicated)

CLEVO CO. and Subsidiaries

Provision of endorsements and guarantees to others Year ended December 31, 2020

Number （Note 1）	Endorser/ guarantor	Party being endorsed/guaranteed	Party being endorsed/guaranteed	Limit on endorsements/ guarantees provided for a single party （Note 3）	Maximum outstanding endorsement/ guarantee amount as of December 31, 2020 （Note 4）	Outstanding endorsement/ guarantee amount at December 31, 2020 （Note 5）	Actual amount drawn down （Note 6）	Amount of endorsements/ guarantees secured with collateral	Ratio of accumulated endorsement/ guarantee amount to net asset value of the endorser/guarantor company	Ceiling on total amount of endorsements/ guarantees provided （Note 3）	Provision of endorsements/ guarantees by parent company to subsidiary （Note 7）	Provision of endorsements/ guarantees by subsidiary to parent company （Note 7）	Provision of endorsements/ guarantees to the party in Mainland China （Note 7）	Footnote
		Company name	Relationship with the endorser/ guarantor （Note 2）
0	The Company	Shantou Buynow Mall Co., Ltd.	3	39,879,138 $	79,758,276 $	- $	- $	- $	-	79,758,276 $	Y	N	Y
0	The Company	Anshan Buynow Electronic Information Co., Ltd.	3	39,879,138	79,758,276	-	-	-	-	79,758,276	Y	N	Y
0	The Company	Dezhou Buynow Electronic Information Co., Ltd.	3	39,879,138	79,758,276	-	-	-	-	79,758,276	Y	N	Y
0	The Company	Buynow Electronic Information (Hangzhou) Co., Ltd.	3	39,879,138	79,758,276	-	-	-	-	79,758,276	Y	N	Y
0	The Company	Taizhou Buynow Electronic Information Co., Ltd.	3	39,879,138	79,758,276	-	-	-	-	79,758,276	Y	N	Y
1	Changsha Hungyu Business Management Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	39,879,138	79,758,276	-	-	-	-	79,758,276	N	N	Y
1	Changsha Hungyu Business Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	39,879,138	79,758,276	759,578	759,578	759,578	1.90	79,758,276	N	N	Y
2	Buynow Electronic Information (Hangzhou) Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	3	39,879,138	79,758,276	-	-	-	-	79,758,276	N	N	Y
2	Buynow Electronic Information (Hangzhou) Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	39,879,138	79,758,276	172,240	172,240	-	0.43	79,758,276	N	N	Y

Table 2 Page 1

Number （Note 1）	Endorser/ guarantor	Party being endorsed/guaranteed	Party being endorsed/guaranteed	Limit on endorsements/ guarantees provided for a single party （Note 3）	Maximum outstanding endorsement/ guarantee amount as of December 31, 2020 （Note 4）	Outstanding endorsement/ guarantee amount at December 31, 2020 （Note 5）	Actual amount drawn down （Note 6）	Amount of endorsements/ guarantees secured with collateral	Ratio of accumulated endorsement/ guarantee amount to net asset value of the endorser/guarantor company	Ceiling on total amount of endorsements/ guarantees provided （Note 3）	Provision of endorsements/ guarantees by parent company to subsidiary （Note 7）	Provision of endorsements/ guarantees by subsidiary to parent company （Note 7）	Provision of endorsements/ guarantees to the party in Mainland China （Note 7）	Footnote
		Company name	Relationship with the endorser/ guarantor （Note 2）
2	Buynow Electronic Information (Hangzhou) Co., Ltd.	Buynow (Chongqing) Industry Co., Ltd.	3	39,879,138 $	79,758,276 $	340,174 $	340,174 $	- $	0.85	79,758,276 $	N	N	Y
2	Buynow Electronic Information (Hangzhou) Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	3	39,879,138	79,758,276	129,180	13,779	129,180	0.32	79,758,276	N	N	Y
3	Buynow (Chengdu) Electronic Information Co., Ltd.	Shantou Buynow Mall Co., Ltd.	3	39,879,138	79,758,276	-	-	-	-	79,758,276	N	N	Y
3	Buynow (Chengdu) Electronic Information Co., Ltd.	Buynow (Chongqing) Industry Co., Ltd.	3	39,879,138	79,758,276	-	-	-	-	79,758,276	N	N	Y
3	Buynow (Chengdu) Electronic Information Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	39,879,138	79,758,276	-	-	-	-	79,758,276	N	N	Y
4	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	39,879,138	79,758,276	1,076,500	17,435	1,076,500	2.70	79,758,276	N	N	Y
5	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	3	39,879,138	79,758,276	1,550,160	1,442,510	1,550,160	3.89	79,758,276	N	N	Y
5	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	39,879,138	79,758,276	759,578	759,578	-	1.90	79,758,276	N	N	Y
6	Buynow Electronic Information (Shenyang) Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	39,879,138	79,758,276	1,076,500	1,022,675	1,076,500	2.70	79,758,276	N	N	Y
7	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Quanzhou Buynow Industry Co., Ltd.	3	39,879,138	79,758,276	258,360	241,136	-	0.65	79,758,276	N	N	Y

Table 2 Page 2

Number （Note 1）	Endorser/ guarantor	Party being endorsed/guaranteed	Party being endorsed/guaranteed	Limit on endorsements/ guarantees provided for a single party （Note 3）	Maximum outstanding endorsement/ guarantee amount as of December 31, 2020 （Note 4）	Outstanding endorsement/ guarantee amount at December 31, 2020 （Note 5）	Actual amount drawn down （Note 6）	Amount of endorsements/ guarantees secured with collateral	Ratio of accumulated endorsement/ guarantee amount to net asset value of the endorser/guarantor company	Ceiling on total amount of endorsements/ guarantees provided （Note 3）	Provision of endorsements/ guarantees by parent company to subsidiary （Note 7）	Provision of endorsements/ guarantees by subsidiary to parent company （Note 7）	Provision of endorsements/ guarantees to the party in Mainland China （Note 7）	Footnote
		Company name	Relationship with the endorser/ guarantor （Note 2）
8	Buynow (Xian) Industry Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	39,879,138 $	79,758,276 $	688,960 $	300,128 $	- $	1.73	79,758,276 $	N	N	Y
9	Buynow (Changchun) Industry Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	39,879,138	79,758,276	-	-	-	-	79,758,276	N	N	Y
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Shanghai Buynow Computer Market Management Co., Ltd.	3	39,879,138	79,758,276	-	-	-	-	79,758,276	N	N	Y
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	3	39,879,138	79,758,276	215,300	193,770	215,300	0.54	79,758,276	N	N	Y
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Buynow Electronic Information (Hangzhou) Co., Ltd.	3	39,879,138	79,758,276	129,180	108,511	129,180	0.32	79,758,276	N	N	Y
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Buynow (Zhengzhou) Electronic Information Co., ~~Ltd~~	3	39,879,138	79,758,276	129,180	-	129,180	0.32	79,758,276	N	N	Y
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	~~.~~ Tianjin Buynow Electronic Information Co., Ltd.	3	39,879,138	79,758,276	51,672	4,478	51,672	0.13	79,758,276	N	N	Y
11	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Kapok Computer (Kunshan) Co., Ltd.	3	39,879,138	79,758,276	837,577	713,633	837,577	2.10	79,758,276	N	N	Y
11	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	39,879,138	79,758,276	420,696	300,128	-	1.05	79,758,276	N	N	Y
12	Buynow (Chongqing) Industry Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	39,879,138	79,758,276	172,240	172,240	172,240	0.43	79,758,276	N	N	Y

Table 2 Page 3

Number （Note 1）	Endorser/ guarantor	Party being endorsed/guaranteed	Party being endorsed/guaranteed	Limit on endorsements/ guarantees provided for a single party （Note 3）	Maximum outstanding endorsement/ guarantee amount as of December 31, 2020 （Note 4）	Outstanding endorsement/ guarantee amount at December 31, 2020 （Note 5）	Actual amount drawn down （Note 6）	Amount of endorsements/ guarantees secured with collateral	Ratio of accumulated endorsement/ guarantee amount to net asset value of the endorser/guarantor company	Ceiling on total amount of endorsements/ guarantees provided （Note 3）	Provision of endorsements/ guarantees by parent company to subsidiary （Note 7）	Provision of endorsements/ guarantees by subsidiary to parent company （Note 7）	Provision of endorsements/ guarantees to the party in Mainland China （Note 7）	Footnote
		Company name	Relationship with the endorser/ guarantor （Note 2）
13	Guangdong Buynow Real Estate Management Co., Ltd.	The Company	3	39,879,138 $	79,758,276 $	1,300,000 $	- $	- $	3.26	79,758,276 $	N	Y	N
14	Guangdong Buynow Real Estate Management Co., Ltd.	Kapok Computer (Kunshan) Co., Ltd.	3	39,879,138	79,758,276	1,404,800	-	1,404,800	3.52	79,758,276	N	N	Y
15	Taizhou Buynow Electronic Information Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	39,879,138	79,758,276	516,720	439,212	516,720	1.30	79,758,276	N	N	Y

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

• (1) The Company is ‘0’.

• (2) The subsidiaries are numbered in order starting from ‘1’.

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

• (1) Having business relationship.

• (2) The endorser/guarantor parent company owns directly and indirectly more than 50% voting shares of the endorsed/guaranteed subsidiary.

• (3) The endorsed/guaranteed company owns directly and indirectly more than 50% voting shares of the endorser/guarantor company.

• (4) The endorser/guarantor parent company owns directly and indirectly more than 50% voting shares of the endorsed/guaranteed company.

• (5) Mutual guarantee of the trade made by the endorsed/guaranteed company or joint contractor as required under the construction contract.

• (6) Due to joint venture, all shareholders provide endorsements/guarantees to the endorsed/guaranteed company in proportion to its ownership.

• Note 3: In accordance with Company's procedures of endorsements and guarantees, limit on the Company's total guarantee amount is 200% of the Company's net assets, and the limit on endorsement/guarantee to a single party is 100% of the aforementioned total amount. The limit on total guarantee amount and the endorsement/guarantee to a single party of the subsidiaries owned directly or

• indirectly 100% voting shares by the Company are both 200% of the Company's net assets. The limit on total guarantee amount and the endorsement/guarantee to a single party of the subsidiaries owned directly or indirectly 100% voting shares by the Company are both 200% of the Company's net assets.

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

• Note 5: Fill in the amount approved by the Board of Directors or the chariman if the chairman has been authorised by the Board of Directors based on subparagraph 8, Article 12 of the Regulations Governing Loaning of Funds and Making of Endorsements/Guarantees by Public Companies.

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

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

• Note 8: The limit on the Company and the subsidiaries' total endorsement/guarantee amount is 300% of the Company's net assets.

• Note 9: The limit on endorsement/guarantee to a single party of the Company and the subsidiaries is 100% of the Company's net assets.

• Note 10: When the total guarantee amount of the Company and the subsidiaries reached 50% of the Company's net assets, it is necessary to explain the necessity and reasonableness at the shareholders' meeting.

• Note 11: In accordance with Article 5 of the Company's procedures of endorsements and guarantees, due to the endorsement of the business relationship, the limit on endorsement/guarantee to a single party due to business relationship shall not exceed the limit mentioned in Note 3 and the actual sales amount between of the single enterprise and the guarantee company within the last year.

Table 2 Page 4

Expressed in thousands of NTD (Except as otherwise indicated)

CLEVO CO. and Subsidiaries Holding of marketable securities at the end of the period (not including subsidiaries, associates and joint ventures) December 31, 2020

Table 3

Securities held by	Marketable securities （Note 1）	Relationship with the securities issuer （Note 2）	General ledger account	As of December 31,2020	As of December 31,2020	As of December 31,2020	As of December 31,2020	Footnote （Note 4）
				Number of shares	Book value （Note 3）	Ownership	Fair value
	Stocks
The Company	AU Optronics Corp.	-	Current financial assets measured at fair value through profit or loss	1,092,989	15,302 $	0.01%	15,302 $	-
The Company	Chicony Electronics Co., Ltd.	Same chairman as the Company	Current financial assets measured at fair value through profit or loss	4,697,000	404,881	0.64%	404,881	-
The Company	Innolux Corporation	-	Current financial assets measured at fair value through profit or loss	51,219	722	0.00%	722	-
The Company	Net Publishing Co., Ltd.	-	Current financial assets measured at fair value through profit or loss	223,000	11,931	0.53%	11,931	-
The Company	Taiwan Business Bank, Ltd.	-	Current financial assets measured at fair value through profit or loss	7,955,827	77,410	0.11%	77,410	-
The Company	Boe Technology Group Co., Ltd.	-	Current financial assets measured at fair value through profit or loss	200,000	5,167	0.00%	5,167	-
The Company	Zhen Ding Technology Holding Limited	-	Current financial assets measured at fair value through profit or loss	210,000	23,940	0.03%	23,940	-
The Company	TRIPOD TECHNOLOGY CORPORATION	-	Current financial assets measured at fair value through profit or loss	210,000	24,885	0.04%	24,885	-
The Company	Foxconn Industrial Internet Co.,ltd.	-	Current financial assets measured at fair value through profit or loss	1,480,000	87,245	0.05%	87,245	-
	Beneficiarycertificate
The Company	Greater China Multi-Strategy Fund	-	Current financial assets measured at fair value through profit or loss	78,788	298,537	0.00%	298,537	-
	Stocks
Kapok Computer Co., Ltd.	Chicony Electronics Co., Ltd.	Same chairman as the Company	Current financial assets measured at fair value through profit or loss	40,862	3,522	0.01%	3,522	-
Kapok Computer Co., Ltd.	The Company	The Company	Non-current financial assets measured at fair value through other comprehensive income	16,966,596	510,695	2.53%	510,695	-
	Beneficiarycertificate
Kapok Computer Co., Ltd.	Reliance TAROBO Robotics Quantitative Chinese Fund	-	Current financial assets measured at fair value through profit or loss	2,237,387	37,080	0.00%	37,080	-
Kapok Computer Co., Ltd.	Taishin Global Selective High Yield Total Return Bond Fund	-	Current financial assets measured at fair value through profit or loss	1,500,000	15,275	0.00%	15,275	-
	Stocks
Clevo Investment Co., Ltd.	Chicony Electronics Co., Ltd.	Same chairman as the Company	Current financial assets measured at fair value through profit or loss	162,072	13,971	0.02%	13,971	-
Clevo Investment Co., Ltd.	The Company	The Company	Non-current financial assets measured at fair value through other comprehensive income	10,080,669	303,428	1.51%	303,428	-

Table 3 Page 1

Securities held by	Marketable securities （Note 1）	Relationship with the securities issuer （Note 2）	General ledger account	As of December 31,2020	As of December 31,2020	As of December 31,2020	As of December 31,2020	Footnote （Note 4）
				Number of shares	Book value （Note 3）	Ownership	Fair value
	Beneficiarycertificate
Clevo Investment Co., Ltd.	Shin Kong Global Preferred Stock Income Fund	-	Current financial assets measured at fair value through profit or loss	1,000,000	10,210 $	0.00%	10,210 $	-
Clevo Investment Co., Ltd.	Yuanta Taiwan High-yield Leading Company Fund	-	Current financial assets measured at fair value through profit or loss	1,000,000	12,590	0.00%	12,590	-
Clevo Investment Co., Ltd.	Reliance TAROBO Robotics Quantitative Chinese Fund	-	Current financial assets measured at fair value through profit or loss	1,491,591	24,720	0.00%	24,720	-
Clevo Investment Co., Ltd.	Amundi TW - US Dollar Core Fixed Income Fund	-	Current financial assets measured at fair value through profit or loss	1,000,000	10,270	0.00%	10,270	-
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	UG Hidden Dragon Special Opportunity Fund	-	Current financial assets measured at fair value through profit or loss	266,378	522,460	0.00%	522,460	-

Note 1: Marketable securities in the table refer to stocks, bonds, beneficiary certificates and other related derivative securities.

• Note 2: Leave the column blank if the issuer of marketable securities is non-related party.

• Note 3: Fill in the amount after adjusted at fair value and deducted by accumulated impairment for the marketable securities measured at fair value; fill in the acquisition cost or amortised cost deducted by accumulated impairment for the marketable securities not measured at fair value.

• Note 4: The number of shares of securities and their amounts pledged as security or pledged for loans and their restrictions on use under some agreements should be stated in the footnote if the securities presented herein have such conditions.

Table 3 Page 2

CLEVO CO. and Subsidiaries Acquisition of real estate reaching NT$300 million or 20% of paid-in capital or more Year ended December 31, 2020

Table 4

Expressed in thousands of NTD (Except as otherwise indicated)

Real estate acquired by	Real estate acquired	Date of the event	Transaction amount	Status of payment	Counterparty	Relationship with the counterparty	If the counterparty is a related party, information as to the last transaction of the real estate is disclosed below:	If the counterparty is a related party, information as to the last transaction of the real estate is disclosed below:	If the counterparty is a related party, information as to the last transaction of the real estate is disclosed below:	If the counterparty is a related party, information as to the last transaction of the real estate is disclosed below:	Basis or reference used in setting the price	Reason for acquisition of real estate and status of the real estate	Other commitments
							Original owner who sold the real estate to the counterparty	Relationship between the original owner and the acquirer	Date of the original transaction	Amount
Buynow (Xian) Industry Co., Ltd.	Construction in Progress, Prepayments and Land Use Right	2005~ Fourth Quarter of 2020	$ 1,083,059	$ 705,029	Xi'an Xinxiaozhai Old Village Reconstruction and Construction Development Co., Ltd. etc.	-	-	-	-	- $	Mutual agreement	Department store; under construction	-
Yingkou Buynow Electronic Information Co., Ltd.	Construction in Progress and Land Use Right	Second Quarter of 2011~ Fourth Quarter of 2020	740,457	716,967	Bureau of Land and Resources of Yingkou City etc.	-	-	-	-	-	Mutual agreement	Department store; under construction	-
Anshan Buynow Electronic Information Co., Ltd.	Buildings and Land Held for Sale, Construction in Progress and Land Use Right	Second Quarter of 2011~ Fourth Quarter of 2020	3,051,018	2,891,902	Bureau of Land and Resources of Anshan City etc.	-	-	-	-	-	Mutual agreement	Department store; under construction	-
Guiyang Buynow Electronic Information Co., Ltd.	Construction in Progress and Land Use Right	Fourth Quarter of 2011~ Fourth Quarter of 2020	1,423,669	1,366,609	Guiyang Municipal Bureau of Land and Resources etc.	-	-	-	-	-	Mutual agreement	Department store; under construction	-
Buynow (Jinzhou) Industry Co., Ltd.	Buildings and Land Held for Sale, Construction in Progress and Land Use Right	Second Quarter of 2013~ Fourth Quarter of 2020	1,733,142	1,715,294	Jinzhou Municipal Bureau of Land and Resources etc.	-	-	-	-	-	Mutual agreement	Department store; under construction	-

Note 1: The appraisal result should be presented in the 'Basis or reference used in setting the price' column if the real estate acquired should be appraised pursuant to the regulations.

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

Note 3: Date of the event referred to herein is the date of contract signing date, date of payment, date of execution of a trading order, date of title transfer, date of board resolution, or other date that can confirm the counterparty and the monetary amount of the transaction, whichever is earlier.

Table 4 Page 1

Table 5

CLEVO CO. and Subsidiaries Disposal of real estate reaching NT$300 million or 20% of paid-in capital or more Year ended December 31, 2020

Expressed in thousands of NTD (Except as otherwise indicated)

Real estate disposed by	Real estate	Transaction date or date of the event	Date of acquisition	Book value	Disposal amount	Status of collection of proceeds	Gain (loss) on disposal	Counterparty	Relationship with the seller	Reason for disposal	Basis or reference used in setting the price	Other commitments
Shantou Buynow Mall Co., Ltd.	Property, plant and equipment (non-current asset held for sale)	December 2020	December 2018	3,725,081 $	3,875,368 $	$ 3,660,070	- $	Chicony Industry (Wuhan) Co.,Ltd.	Other related parties	Active assets, create operating performance of group mall.	Refer to the appraised amount and resolved by the Board of Directors	Fulfill the rights and obligations based on the agreement mutually signed

Note 1: The appraisal result should be presented in the ‘Basis or reference used in setting the price’ column if the real estate disposed of should be appraised pursuant to the regulations.

• Note 2: Paid-in capital referred to herein is the paid-in capital of parent company. In the case that shares were issued with no par value or a par value other than NT$10 per share, the 20% of paid-in capital shall be replaced by 10% of equity attributable to owners of the parent in the calculation.

• Note 3: Date of the event referred to herein is the date of contract signing, date of payment, date of execution of a trading order, date of title transfer, date of board resolution, or other date that can confirm the counterparty and the monetary amount of the transaction, whichever is earlier.

Table 5 Page 1

CLEVO CO. and Subsidiaries Purchases or sales of goods from or to related parties reaching NT$100 million or 20% of paid-in capital or more Year ended December 31, 2020

Table 6

Expressed in thousands of NTD (Except as otherwise indicated)

Purchaser/seller	Counterparty	Relationship with the counterparty	Transaction	Transaction	Transaction	Transaction	Differences in transaction terms compared to third party transactions （Note 1）	Differences in transaction terms compared to third party transactions （Note 1）	Notes/accounts receivable (payable)	Notes/accounts receivable (payable)	Footnote (Note 2)
			Purchases (sales)	Amount	Percentage of total purchases (sales)	Credit term	Unit price	Credit term	Balance	Percentage of total notes/accounts receivable (payable)
The Company	Kapok Computer (Kunshan) Co., Ltd.	The Company as the ultimate parent company	Purchases	11,118,333 $	57.80%	30 days after monthly billings and offset between creditor's rights and debt obligation. Prepayment is allowed when there is a fund requirement.	The selling price is reduced by 5%~15%. However, it can be adjusted according to market conditions.	1~5 months for normal customers due to fund requirements.	- $	-	-
The Company	Kapok Computer (Kunshan) Co., Ltd.	The Company as the ultimate parent company	Sales	4,329,715) (	21.07%	180 days	The goods are not sold to other customers, so the prices cannot be compared.	1~2 months for normal customers due to fund requirements.	1,440,203	41.10%	-
Kapok Computer (Kunshan) Co., Ltd.	The Company	The Company as the ultimate parent company	Sales	11,118,333) (	99.99%	30 Days After Monthly Billings	It is the only customer, so the price cannot be compared.	-	-	-	-
Kapok Computer (Kunshan) Co., Ltd.	The Company	The Company as the ultimate parent company	Purchases	4,329,715	43.03%	180 days	It is the only supplier, so the price cannot be compared.	-	1,440,203) (	46.12%	-

Note 1: If terms of related-party transactions are different from third-party transactions, explain the differences and reasons in the ‘Unit price’ and ‘Credit term’ columns.

Note 2: In case related-party transaction terms involve advance receipts (prepayments) transactions, explain in the footnote the reasons, contractual provisions, related amounts, and differences in types of transactions compared to third-party transactions.

Note 3: Paid-in capital referred to herein is the paid-in capital of parent company. In the case that shares were issued with no par value or a par value other than NT$10 per share, the 20 % of paid-in capital shall be replaced by 10% of equity attributable to owners of the parent in the calculation.

Table 6 Page 1

CLEVO CO. and Subsidiaries Receivables from related parties reaching NT$100 million or 20% of paid-in capital or more Year ended December 31, 2020

Year ended December 31, 2020	Year ended December 31, 2020	Year ended December 31, 2020	Year ended December 31, 2020	Year ended December 31, 2020
Table 7					Expressed in thousands of NTD (Except as otherwise indicated)
Creditor	Counterparty	Relationship with the counterparty	Balance as at December 31, 2020 （Note 1）	Turnover rate	Overdue receivables		Amount collected subsequent to the balance sheet date	Allowance for doubtful accounts
					Amount	Action taken
The Company	Kapok Computer (Kunshan) Co., Ltd.	The transaction object is a subsidiary of the company.	1,440,203 $	3.22	- $	Change into other receivables- related parties-current	- $	- $

Note 1: Fill in separately the balances of accounts receivable-related parties, notes receiuabce and other receivables etc.

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

Table 7 Page 1

CLEVO CO. and Subsidiaries Significant inter-company transactions during the reporting period Year ended December 31, 2020

Table 8

Expressed in thousands of NTD (Except as otherwise indicated)

N0. (Note 1)	Company name	Counterparty	Relationship (Note 2)	Transaction	Transaction	Transaction	Transaction
				General ledger account	Amount	Transaction terms	Percentage of consolidated total operating revenues or total assets (Note 3)
0	The Company	Kapok Computer (Kunshan) Co., Ltd.	1	Purchases	11,118,333 $	The selling price is reduced by 5%~15%. However, it can be adjusted according to market conditions. The payment period is 30 days ofter monthly billings.	54.94%
0	The Company	Kapok Computer (Kunshan) Co., Ltd.	1	Sales	4,329,715	It is the only customer, so the price cannot be compared. The payment period is 180 days.	21.39%
0	The Company	Kapok Computer (Kunshan) Co., Ltd.	1	Accounts receivable- related parties	1,440,203	-	1.53%
1	Buynow Electronic Information (Hangzhou) Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	3	Other receivables - related parties - current	121,213	0.05	0.13%
1	Buynow Electronic Information (Hangzhou) Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	252,889	5.00%	0.27%
1	Buynow Electronic Information (Hangzhou) Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties - current	80,091	5.00%	0.08%
1	Buynow Electronic Information (Hangzhou) Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	171,162	5.00%	0.18%
1	Buynow Electronic Information (Hangzhou) Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	131,763	5.00%	0.14%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	346,200	4.35%	0.37%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Buynow (Fujian) Electronic Technology Development Co., Ltd.	3	Other receivables - related parties - current	238,253	4.35%	0.25%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	148,125	4.35%	0.16%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Buynow Electronic Information (Hui zhou) Co., Ltd	3	Other receivables - related parties - current	129,523	4.35%	0.14%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	53,480	4.35%	0.06%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	280,964	4.35%	0.30%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Shantou Buynow Mall Co., Ltd.	3	Receivables - related parties	94,625	-	0.10%

Table 8 Page 1

N0. (Note 1)	Company name	Counterparty	Relationship (Note 2)	Transaction	Transaction	Transaction	Transaction
				General ledger account	Amount	Transaction terms	Percentage of consolidated total operating revenues or total assets (Note 3)
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Buynow (Fujian) Electronic Technology Development Co., Ltd.	3	Receivables - related parties	55,354 $	-	0.06%
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	Other receivables - related parties - current	341,678	4.35%	0.36%
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties - current	174,176	4.35%	0.18%
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Receivables - related parties	53,520	-	0.06%
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow Electronic Information (Hangzhou) Co., Ltd.	3	Other receivables - related parties - current	128,748	4.50%	0.14%
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	3	Other receivables - related parties - current	318,426	4.50%	0.34%
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow(Guangzhou) Electronic Information Co., Ltd.	3	Other receivables - related parties - current	169,224	4.50%	0.18%
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	Other receivables - related parties - current	169,311	4.50%	0.18%
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties - current	639,737	4.50%	0.68%
4	Kapok Computer (Kunshan) Co., Ltd.	Daqing Buynow Electronic Information Corporation	3	Other receivables - related parties - current	96,454	4.50%	0.10%
4	Kapok Computer (Kunshan) Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	87,842	4.50%	0.09%
4	Kapok Computer (Kunshan) Co., Ltd.	Shantou Buynow Mall Co., Ltd.	3	Other receivables - related parties - current	491,397	4.50%	0.52%
4	Kapok Computer (Kunshan) Co., Ltd.	Clevo (China) Investment Co., Ltd.	3	Other receivables - related parties - current	172,239	4.50%	0.18%
4	Kapok Computer (Kunshan) Co., Ltd.	Yingkou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	81,813	4.50%	0.09%
4	Kapok Computer (Kunshan) Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	428,444	4.50%	0.45%
4	Kapok Computer (Kunshan) Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	192,046	4.50%	0.20%
4	Kapok Computer (Kunshan) Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	545,566	4.50%	0.58%
4	Kapok Computer (Kunshan) Co., Ltd.	Kunshan Kaishuo Trading Co., Ltd.	3	Other receivables - related parties - current	172,239	4.50%	0.18%
5	Buynow (Nanchang) Industry Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	257,841	5.00%	0.27%
5	Buynow (Nanchang) Industry Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	74,579	5.00%	0.08%

Table 8 Page 2

N0. (Note 1)	Company name	Counterparty	Relationship (Note 2)	Transaction	Transaction	Transaction	Transaction
				General ledger account	Amount	Transaction terms	Percentage of consolidated total operating revenues or total assets (Note 3)
5	Buynow (Nanchang) Industry Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	79,230 $	5.00%	0.08%
5	Buynow (Nanchang) Industry Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	Other receivables - related parties - current	166,296	5.00%	0.18%
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	3	Other receivables - related parties - current	85,129	4.35%	0.09%
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties - current	164,660	4.35%	0.17%
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Beijing Kaiye Electronic Technology Co., Ltd.	3	Other receivables - related parties - current	53,825	-	0.06%
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Clevo (China) Investment Co., Ltd.	3	Other receivables - related parties - current	68,895	4.35%	0.07%
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	75,441	4.35%	0.08%
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	177,836	4.35%	0.19%
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	3	Other receivables - related parties - current	91,502	4.35%	0.10%
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	91,717	4.35%	0.10%
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Yingkou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	113,204	4.35%	0.12%
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Yingkou Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	75,723	-	0.08%
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Buynow (Guangzhou) Electronic Information Co., Ltd.	3	Other receivables - related parties - current	57,097	4.35%	0.06%
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties - current	81,167	4.35%	0.09%
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Daqing Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	236,785	4.35%	0.25%
9	Buynow (Changchun) Industry Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	Other receivables - related parties - current	163,627	4.35%	0.17%
9	Buynow (Changchun) Industry Co., Ltd.	Clevo (China) Investment Co., Ltd.	3	Other receivables - related parties - current	51,672	4.35%	0.05%
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties - current	54,600	5.00%	0.06%
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	72,986	5.00%	0.08%
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	86,119	5.00%	0.09%

Table 8 Page 3

N0. (Note 1)	Company name	Counterparty	Relationship (Note 2)	Transaction	Transaction	Transaction	Transaction
				General ledger account	Amount	Transaction terms	Percentage of consolidated total operating revenues or total assets (Note 3)
11	Quality Trust Property Management Co, Ltd.	Daqing Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	167,933 $	3.00%	0.18%
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	3	Other receivables - related parties - current	62,867	4.35%	0.07%
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	Other receivables - related parties - current	227,355	4.35%	0.24%
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties - current	96,454	4.35%	0.10%
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	110,267	4.35%	0.12%
13	Buynow (Chongqing) Industry Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	78,799	5.00%	0.08%
13	Buynow (Chongqing) Industry Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	63,205	-	0.07%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	80,952	5.00%	0.09%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	Other receivables - related parties - current	256,592	5.00%	0.27%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	227,010	5.00%	0.24%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	270,415	5.00%	0.29%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	Other receivables - related parties - current	238,637	5.00%	0.25%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	Receivables - related parties	82,633	-	0.09%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	56,995	-	0.06%
15	Daqing Buynow Electronic Information Co., Ltd.	Buynow (Zhengzhou) Electronic Information Co., Ltd.	3	Other receivables - related parties - current	127,887	5.00%	0.14%
16	Tianjin Buynow Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	155,445	4.35%	0.16%
16	Tianjin Buynow Electronic Information Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	Other receivables - related parties - current	56,839	4.35%	0.06%
16	Tianjin Buynow Electronic Information Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	Other receivables - related parties - current	191,443	4.35%	0.20%
16	Tianjin Buynow Electronic Information Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	137,980	4.35%	0.15%
16	Tianjin Buynow Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	55,934	4.35%	0.06%

Table 8 Page 4

N0. (Note 1)	Company name	Counterparty	Relationship (Note 2)	Transaction	Transaction	Transaction	Transaction
				General ledger account	Amount	Transaction terms	Percentage of consolidated total operating revenues or total assets (Note 3)
16	Tianjin Buynow Electronic Information Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	Other receivables - related parties - current	102,051 $	4.35%	0.11%
16	Tianjin Buynow Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	58,990	-	0.06%
17	Buynow (Yancheng) Electronic Information Technology Development Co., Ltd.	Shantou Buynow Mall Co., Ltd.	3	Other receivables - related parties - current	479,469	-	0.51%
17	Buynow (Yancheng) Electronic Information Technology Development Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	124,873	-	0.13%
18	Beijing Clevo Investment Management Consultant Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	Other receivables - related parties - current	208,839	5.00%	0.22%
18	Beijing Clevo Investment Management Consultant Co., Ltd.	Buynow Electronic Information (Hui zhou) Co., Ltd	3	Other receivables - related parties - current	291,514	5.00%	0.31%
19	Guangdong Buynow Real Estate Management Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	371,562	4.35%	0.39%
19	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	3	Other receivables - related parties - current	89,779	4.35%	0.10%
19	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow (Guangzhou) Electronic Information Co., Ltd.	3	Other receivables - related parties - current	59,422	4.35%	0.06%
19	Guangdong Buynow Real Estate Management Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	Other receivables - related parties - current	131,160	4.35%	0.14%
19	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties - current	53,394	4.35%	0.06%
19	Guangdong Buynow Real Estate Management Co., Ltd.	Daqing Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	70,919	4.35%	0.08%
19	Guangdong Buynow Real Estate Management Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	252,330	4.35%	0.27%
19	Guangdong Buynow Real Estate Management Co., Ltd.	Suzhou Jinzuo Industry Co., Ltd.	3	Other receivables - related parties - current	241,823	4.35%	0.26%
19	Guangdong Buynow Real Estate Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	110,663	4.35%	0.12%
19	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	Other receivables - related parties - current	356,103	4.35%	0.38%
19	Guangdong Buynow Real Estate Management Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	120,367	-	0.13%
19	Guangdong Buynow Real Estate Management Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	69,363	-	0.07%
20	Shantou Buynow Mall Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	3	Other receivables - related parties - current	129,179	5.00%	0.14%
20	Shantou Buynow Mall Co., Ltd.	Clevo (China) Investment Co., Ltd.	3	Other receivables - related parties - current	88,272	5.00%	0.09%

Table 8 Page 5

N0. (Note 1)	Company name	Counterparty	Relationship (Note 2)	Transaction	Transaction	Transaction	Transaction
				General ledger account	Amount	Transaction terms	Percentage of consolidated total operating revenues or total assets (Note 3)
20	Shantou Buynow Mall Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	338,707 $	5.00%	0.36%
20	Shantou Buynow Mall Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	102,051	5.00%	0.11%
20	Shantou Buynow Mall Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	430,597	5.00%	0.46%
21	Clevo (China) Investment Co., Ltd.	Buynow Electronic Information (Hui zhou) Co., Ltd	3	Other receivables - related parties - current	73,201	5.00%	0.08%
22	Kunshan Kaishuo Trading Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	88,186	3.50%	0.09%

• Note 1: The numbers filled in for the transaction company in respect of inter-company transactions are as follows:

• (1) Parent company is ‘0’.

• (2) The subsidiaries are numbered in order starting from ‘1’.

• Note 2: Relationship between transaction company and counterparty is classified into the following three categories , fill in the number of category each case belongs to (If transactions between parent company and subsidiaries or between s to the same transaction, it is not required to disclose twice. For example, if the parent company has already disclosed its transaction with a subsidiary, then the subsidiary is not required to disclose the transaction; for transactions be subsidiaries, if one of the subsidiaries has disclosed the transaction, then the other is not required to disclose the transaction:

• (1) Parent company to subsidiary.

• (2) Subsidiary to parent company.

• (3) Subsidiary to subsidiary.

• Note 3: Regarding percentage of transaction amount to consolidated total operating revenues or total assets, it is computed based on period-end balance of transaction to consolidated total

• assets for balance sheet accounts and based on accumulated transaction amount for the period to consolidated total operating revenues for income statement accounts.

• Note 4: The Company may decide to disclose or not to disclose transaction details in this table based on the Materiality Principle.

Table 8 Page 6

CLEVO CO. and Subsidiaries Information on investees Year ended December 31, 2020

Table 9

Expressed in thousands of NTD (Except as otherwise indicated)

Investor	Investee （Notes 1 and 2）	Location	Main business activities	Initial investment amount	Initial investment amount	Shares held as at December 31, 2020	Shares held as at December 31, 2020	Shares held as at December 31, 2020	Net profit (loss) of the investee for year ended December 31, 2020 (Note 2 (2))	Investment income (loss) recognised by the Company for year ended December 31, 2020 (Note 2 (3))	Footnote
				Balance at December 31, 2020	Balance at December 31, 2019	Number of shares	Ownership (%)	Book value
The Company	CLEVO COMPUTER SINGAPORE PTE LTD.	Singapore	Management and advisory of computers	420,061 $	529,638 $	22,325,453	100.00	7,527,414 $	127,535 $	127,535 $	The subsidiary of the Company
The Company	CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	Cayman Islands	Investment	15,754,974	15,754,974	369,370,000	100.00	43,082,841	43,825	43,825	The subsidiary of the Company
The Company	KAPOK COMPUTER (SAMOA) CORPORATION	Samoa	Investment	489,985	232,643	16,000,000	100.00	1,719,924	331,379	331,368	The subsidiary of the Company
The Company	BUYNOW ON-LINE HOLDING CORPORATION	Samoa	Investment	35,513	35,513	1,100,000	100.00	8,667) (	727) (	727) (	The subsidiary of the Company
The Company	Clevo Investment Co., Ltd.	Taiwan	Investment	140,000	140,000	14,000,000	100.00	73,558	12,416	8,383	The subsidiary of the Company
The Company	Kapok Computer Co., Ltd.	Taiwan	Design and sale of computers and computer peripherals	80,000	80,000	8,000,000	100.00	56,444	13,950	7,163	The subsidiary of the Company
The Company	Taipei Twin Corporation	Taiwan	Investment	1,000,000	1,000,000	100,000,000	50.00	987,137	24,642) (	12,321) (	Investment accounted for under equity method
CLEVO COMPUTER SINGAPORE PTE LTD.	BUYNOW (CHENGDU) CORPORATION	Samoa	Investment	278,468	278,468	7,000,000	100.00	3,493,855	72,617	72,617	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW GLOBAL CORPORATION	British Virgin Islands	Investment	118,490	118,490	2,600,000	100.00	887,573	54,480	54,480	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (HANGZHOU) CORPORATION	British Virgin Islands	Investment	173,107	173,107	5,000,000	100.00	3,328,705	116,657	116,657	The Company as the ultimate parent company

Table 9 Page 1

Investor	Investee （Notes 1 and 2）	Location	Main business activities	Initial investment amount	Initial investment amount	Shares held as at December 31, 2020	Shares held as at December 31, 2020	Shares held as at December 31, 2020	Net profit (loss) of the investee for year ended December 31, 2020 (Note 2 (2))	Investment income (loss) recognised by the Company for year ended December 31, 2020 (Note 2 (3))	Footnote
				Balance at December 31, 2020	Balance at December 31, 2019	Number of shares	Ownership (%)	Book value
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (ZHENGZHOU) CORPORATION	Samoa	Investment	103,185 $	103,185 $	3,000,000	100.00	3,181,264 $	69,971 $	69,971 $	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW GROUP (CHANGSHA) CORPORATION	British Virgin Islands	Investment	136,180	136,180	4,000,000	100.00	220,808	2,802) (	2,802) (	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (NANCHANG) CORPORATION	Samoa	Investment	104,484	104,484	3,000,000	100.00	2,782,419	54,479	54,479	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (GUANGZHOU) CORPORATION	Samoa	Investment	161,745	161,745	5,000,000	100.00	2,309,199	2,526	2,526	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	FLYING WOLF INVESTMENT LIMITED	British Virgin Islands	Investment	96,141	96,141	3,000,000	100.00	3,055,539	41,641	41,641	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (XIAMEN) CORPORATION	Samoa	Investment	95,502	95,502	3,000,000	100.00	1,866,141	45,717	45,717	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW GROUP (XIAN) CORPORATION	Samoa	Investment	96,543	96,543	3,000,000	100.00	793,610	34,168	34,168	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (CHANGCHUN) CORPORATION	Samoa	Investment	64,064	64,064	2,000,000	100.00	2,890,784	78,601	78,601	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW GROUP (QINGDAO) CORPORATION	Samoa	Investment	115,648	115,648	3,500,000	100.00	100,070	11,162) (	11,162) (	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (CHONGQING) LIMITED	Hong Kong	Investment	169,140	169,140	5,000,000	100.00	1,065,694	8,801	8,801	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	FLYING INTERNATIONAL INVESTMENT LIMITED	Samoa	Investment	178,968 $	178,968 $	3,000,000	100.00	2,300,491 $	9,321 $	9,321 $	The Company as the ultimate parent company

Table 9 Page 2

Investor	Investee （Notes 1 and 2）	Location	Main business activities	Initial investment amount	Initial investment amount	Shares held as at December 31, 2020	Shares held as at December 31, 2020	Shares held as at December 31, 2020	Net profit (loss) of the investee for year ended December 31, 2020 (Note 2 (2))	Investment income (loss) recognised by the Company for year ended December 31, 2020 (Note 2 (3))	Footnote
				Balance at December 31, 2020	Balance at December 31, 2019	Number of shares	Ownership (%)	Book value
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (WUXI) CORPORATION	Samoa	Investment	64,054	64,054	2,000,000	100.00	1,240,536	42,501	42,501	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (HARBIN) CORPORATION	Samoa	Investment	99,012	99,012	3,000,000	100.00	124,235	41,675	41,675	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (DAQING) CORPORATION	Samoa	Investment	96,894	96,894	3,000,000	100.00	11,713) (	8,345	8,345	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (ZIBO) CORPORATION	Samoa	Investment	95,805	95,805	3,000,000	100.00	77,347) (	11,391) (	11,391) (	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (BEIJING) CORPORATION	Samoa	Investment	244,256	244,256	6,000,000	100.00	1,739,615	51,320	51,320	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	SKILL DEVELOP INTERNATIONAL LIMITED	Samoa	Investment	581,916	581,916	9,350,000	100.00	5,070,236	43,926	43,926	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (YANCHENG) CORPORATION	Samoa	Investment	931,920	931,920	31,500,000	100.00	729,555	2) (	2) (	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (HUIZHOU) CORPORATION	Samoa	Investment	200,737	200,737	1,500,000	100.00	87,145) (	11,351) (	11,351) (	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (YINGKOU) CORPORATION	Samoa	Investment	434,082	434,082	15,000,000	100.00	409,421	318) (	318) (	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (ANSHAN) CORPORATION	Samoa	Investment	1,119,393	1,119,393	38,000,000	100.00	796,833	315,464) (	315,464) (	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (GUIYANG) CORPORATION	Samoa	Investment	301,236	301,236	10,000,000	100.00	257,375	345) (	345) (	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	CHICONY SQUARE (WUHAN) INC.	British Virgin Islands	Investment	123,204	123,204	3,600,000	30.00	2,361,152	88,661) (	26,598) (	Investment accounted for under equity method

Table 9 Page 3

Investor	Investee （Notes 1 and 2）	Location	Main business activities	Initial investment amount	Initial investment amount	Shares held as at December 31, 2020	Shares held as at December 31, 2020	Shares held as at December 31, 2020	Net profit (loss) of the investee for year ended December 31, 2020 (Note 2 (2))	Investment income (loss) recognised by the Company for year ended December 31, 2020 (Note 2 (3))	Footnote
				Balance at December 31, 2020	Balance at December 31, 2019	Number of shares	Ownership (%)	Book value
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	CHICONY SQUARE (CAYMAN) INC.	Cayman Islands	Investment	86,886 $	86,886 $	3,000,000	30.00	50,181 $	224,337 $	67,301 $	Investment accounted for under equity method
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (WUHAN) CORPORATION	Samoa	Investment	-	-	4,500,000	30.00	167,245	( 161,241)	( 48,372)	Investment accounted for under equity method
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	CHICONY CHENGDU INTERNATIONAL INC.	British Virgin Islands	Investment	362,866	362,866	1,500,000	3.75	49,738	209,943	7,873	Investment accounted for under equity method
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (TAIZHOU) CORPORATION	Samoa	Investment	505,786	505,786	17,000,000	100.00	290,991	524	524	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	SMARTER CAPITAL LIMITED	Samoa	Investment	1,013,693	1,013,693	14,900,000	100.00	995,790	47,527	47,527	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (DEZHOU) CORPORATION	Samoa	Investment	881,914	881,914	30,000,000	100.00	164,068	143,604) (	143,604) (	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (LUOYANG) CORPORATION	Samoa	Investment	894,346	894,346	30,000,000	100.00	195,151	47,306) (	47,306) (	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (FUJIAN QUANZHOU) CORPORATION	Samoa	Investment	446,195	446,195	15,000,000	100.00	437,607	5,220) (	5,220) (	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (JINZHOU) CORPORATION	Samoa	Investment	448,081	448,081	15,000,000	100.00	313,020	33,741) (	33,741) (	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (SHANTOU) CORPORATION	Samoa	Investment	578,224	578,224	19,200,000	100.00	253,206	215,486) (	215,486) (	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	CLEVO(HK) INVESTMENT HOLDING LIMITED	Hong Kong	Investment	3,138	3,138	100,000	100.00	1,204	2,497) (	2,497) (	The Company as the ultimate parent company
CLEVO(HK)INVESTMENT HOLDING LIMITED	CLEVO JAPAN GK	日本	Investment	-	2,817	-	0.00	-	1,844) (	1,844) (	The Company as the ultimate parent company

Table 9 Page 4

Investor	Investee （Notes 1 and 2）	Location	Main business activities	Initial investment amount	Initial investment amount	Shares held as at December 31, 2020	Shares held as at December 31, 2020	Shares held as at December 31, 2020	Net profit (loss) of the investee for year ended December 31, 2020 (Note 2 (2))	Investment income (loss) recognised by the Company for year ended December 31, 2020 (Note 2 (3))	Footnote
				Balance at December 31, 2020	Balance at December 31, 2019	Number of shares	Ownership (%)	Book value
SKILL DEVELOP INTERNATIONAL LIMITED	WELL ASIA INVESTMENT LIMITED	Hong Kong	Investment	277,817 $	277,817 $	9,200,000	100.00	5,070,236 $	43,926 $	43,926 $	The Company as the ultimate parent company
SMARTER CAPITAL LIMITED	BUYNOW SZ. CORPORATION	Samoa	Investment	452,081	452,081	14,900,000	100.00	995,790	47,527	47,527	The Company as the ultimate parent company
BUYNOW ON-LINE HOLDING CORPORATION	BUYNOW ON-LINE LIMITED	Hong Kong	Investment	35,483	35,483	1,100,000	100.00	8,666) (	727) (	727) (	The Company as the ultimate parent company

• Note 1: If a public company is equipped with an overseas holding company and takes consolidated financial report as the main financial report according to the local law rules, it can only

• disclose the information of the overseas holding company about the disclosure of related overseas investee information.

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

• (1)The columns of ‘Investee’, ‘Location’, ‘Main business activities’, Initial investment amount’ and ‘Shares held as at December 31, 2020’ should fill orderly in the Company’s

• (public company’s) information on investees and every directly or indirectly controlled investee’s investment information, and note the relationship between the Company (public company) and its investee each (ex. direct subsidiary or indirect subsidiary) in the ‘footnote’ column..

• (2)The ‘Net profit (loss) of the investee for year ended December 31, 2020’ column should fill in amount of net profit (loss) of the investee for this year.

• (3)The ‘Investment income (loss) recognised by the Company for year ended December 31, 2020’ column should fill in the Company (public company) recognised investment

income (loss) of its direct subsidiary and recognised investment income (loss) of its investee accounted for under the equity method for this year. When filling in recognised investment income (loss) of its direct subsidiary, the Company (public company) should confirm that direct subsidiary’s net profit (loss) for this period has included its investment income (loss) which shall be recognised by regulations.

Table 9 Page 5

CLEVO CO. and Subsidiaries

Information on investments in Mainland China

Year ended December 31, 2020

Table 10

Expressed in thousands of NTD (Except as otherwise indicated)

Investee in Mainland China	Main business activities	Paid-in capital	Investment method （Note 1）	Accumulated amount of remittance from Taiwan to Mainland China as of January 1, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2020	Net income of investee for the nine- month period ended December 31, 2020	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for year ended December 31, 2020 （Note 2）	Book value of investments in Mainland China as of December 31, 2020	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2020	Footnote
					Remitted to Mainland China	Remitted back to Taiwan
Buynow (Chengdu) Electronic Information Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products, and property management of buildings	278,468 $	2	278,468 $	- $	- $	278,468 $	72,617 $	100	72,617 $	3,493,855 $	-	-
Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Manufacturing, sale, research and development of computers and computer peripherals and services for related electronic products	58,159	2	37,522	-	-	37,522	16,876	100	16,876	1,944,208	-	-
Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Manufacturing, sale, research and development of computers and computer peripherals and services for related electronic products	69,491	2	-	-	-	-	52,712	100	52,712	2,185,495	-	-
Kapok Computer (Kunshan) Co., Ltd.	Manufacturing, sale, research and development and maintenance service of computer, notebook, tablet, information and communication products and computer components	238,599	2	238,599	-	-	238,599	347,349	100	347,349	1,666,381	-	-
Kunshan Kaiming Trading Co., Ltd.	Provide market management services for operators of laptop computer, tablet, desktop computer, palmtop computer, information and communication products and computer components	17,746	3	-	-	-	-	964) (	100	964) (	2,596	-	-

Table 10 Page 1

Investee in Mainland China	Main business activities	Paid-in capital	Investment method （Note 1）	Accumulated amount of remittance from Taiwan to Mainland China as of January 1, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2020	Net income of investee for the nine- month period ended December 31, 2020	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for year ended December 31, 2020 （Note 2）	Book value of investments in Mainland China as of December 31, 2020	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2020	Footnote
					Remitted to Mainland China	Remitted back to Taiwan
Chicony Industry (Wuhan) Co., Ltd.	Research, development, production and sales of computer software and hardware, electronic products; sales services, non- staple food; coffee shop operations; venue rental	1,927,049 $	2 CHICONY SQUARE (WUHAN) INC.	526,552 $	- $	- $	526,552 $	229,453 $	30	68,836 $	1,227,257 $	-	-
Wuhan Qunbai Industry Co., Ltd.	Research, development and sales of computer software, hardware and electronic products; sales services; wenue retal	58,904	3	-	-	-	-	13,061	30	3,918	617,969	-	-
Chicony Square (Wuhan) Management Co., Ltd.	Sales of service and non-staple food; cafe operation; venue rental	14,414	3	-	-	-	-	6,028	25	1,506	30,263	-	-
Qunguang Industrial (Xian) Co., Ltd.	Research, development, production and sales of computer software and hardware, electronic products; sales services, nonstaple food; coffee shop operations; venue rental; catering services; parking lot management and retail.	4,053,756	3	-	-	-	-	406,535) (	30	121,961) (	536,515	-	-
Buynow Electronic Information (Hangzhou) Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products, and property management of buildings	198,848	2	198,848	-	-	198,848	116,657	100	116,657	3,328,705	-	-
Shanghai Buynow Electronic Information Co., Ltd.	Rental of the display venues of computer and related electronic products; information consultation; maintenance services; property management	521,418	2	56,778	-	-	56,778	60,134	100	60,134	2,904,382	-	-
Quality Trust Property Management Co, Ltd.	Property management, advisory of real estate, building leasing, housekeeping service, parking lot service, car wash service and business service	24,975	2	21,645	-	-	21,645	39,530	100	39,530	237,334	-	-
Wuxi Quntai Property Management Co., Ltd.	Property management, advisory of real estate, building leasing, housekeeping service, parking lot service, car wash service and business service	2,402	3	-	-	-	-	3,673	100	3,673	27,823	-	-

Table 10 Page 2

Investee in Mainland China	Main business activities	Paid-in capital	Investment method （Note 1）	Accumulated amount of remittance from Taiwan to Mainland China as of January 1, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2020	Net income of investee for the nine- month period ended December 31, 2020	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for year ended December 31, 2020 （Note 2）	Book value of investments in Mainland China as of December 31, 2020	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2020	Footnote
					Remitted to Mainland China	Remitted back to Taiwan
Shanghai Buynow Electronic Products Market Management Co., Ltd.	Provide market management services for operators of electronic products	504,484 $	3	- $	- $	- $	- $	122,504 $	100	122,504 $	4,633,804 $	-	-
Beijing Kaiye Electronic Technology Co., Ltd.	Technology-extension services, computer maintenance, public parking lot service for motorcycle, property management, business management, business management and advisory, business building leasing, wholesale of computer and computer peripherals, hardware electronic and daily appliance	359,053	3	-	-	-	-	63,206	100	63,206	122,761) (	-	-
Buynow (Nanchang) Industry Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products, and property management of buildings	119,297	2	119,297	-	-	119,297	54,479	100	54,479	2,782,419	-	-
Changsha Hungyu Business Management Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products, and property management of buildings	119,297	2	119,297	-	-	119,297	2,802) (	100	2,802) (	220,808	-	-
Buynow (Zhengzhou) Electronic Information Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products	119,123	2	119,123	-	-	119,123	69,971	100	69,971	3,181,264	-	-
Buynow (Guangzhou) Electronic Information Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products	198,670	2	198,670	-	-	198,670	1,986	100	1,986	2,303,613	-	-

Table 10 Page 3

Investee in Mainland China	Main business activities	Paid-in capital	Investment method （Note 1）	Accumulated amount of remittance from Taiwan to Mainland China as of January 1, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2020	Net income of investee for the nine- month period ended December 31, 2020	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for year ended December 31, 2020 （Note 2）	Book value of investments in Mainland China as of December 31, 2020	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2020	Footnote
					Remitted to Mainland China	Remitted back to Taiwan
Tianjin Buynow Electronic Information Co., Ltd.	Development, producttion and sales of computer hardware and software and electronic digital technology products	224,794 $	2	206,061 $	- $	- $	206,061 $	8,107 $	100	8,107 $	2,285,515 $	-	-
Beijing Clevo Investment Management Consultant Co., Ltd.	Business advisory of investment management, wholesale agency of electronic products, import and export of goods and property management	305,459	2	314,567	-	-	314,567	67,526	100	67,526	2,288,968	-	-
Buynow (Yancheng) Electronic Information Technology Development Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products, and advisory of business management	942,511	2	942,511	-	-	942,511	2) (	100	2) (	729,555	-	-
Buynow (Xian) Industry Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products	116,528	2	116,528	-	-	116,528	34,168	100	34,168	793,610	-	-
Buynow (Fujian) Electronic Technology Development Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products	119,117	2	119,117	-	-	119,117	45,717	100	45,717	1,866,141	-	-
Chicony Dalu Enterprise (Chengdu) Co., Ltd.	Developing and manufacturing computers, hardware, electronic products; production and sales of cosmetics and daily necessities; rental business	2,291,275	2 CHICONY CHENGDU INTERNATI ONAL INC.	687,382	-	-	687,382	209,945	30	62,983	397,892	-	-
Buynow Electronic Information (Shenyang) Co., Ltd.	Research and development of computers and computer peripherals and electronic products, and advisory of economic information	119,298	2	119,298	-	-	119,298	20,718	100	20,718	2,410,337	-	-
Guangdong Buynow Real Estate Management Co., Ltd.	Self-owned property management and leasing. manufacturing, sale, research and development of computer software and hardware and digital products	442,167	2	363,300	-	-	363,300	67,828	100	67,828	7,799,497	-	-

Table 10 Page 4

Investee in Mainland China	Main business activities	Paid-in capital	Investment method （Note 1）	Accumulated amount of remittance from Taiwan to Mainland China as of January 1, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2020	Net income of investee for the nine- month period ended December 31, 2020	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for year ended December 31, 2020 （Note 2）	Book value of investments in Mainland China as of December 31, 2020	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2020	Footnote
					Remitted to Mainland China	Remitted back to Taiwan
Buynow (Changchun) Industry Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products, and property management of buildings	81,539 $	2	77,656 $	- $	- $	77,656 $	82,529 $	100	82,529 $	3,035,263 $	-	-
Buynow (Wuhan) Industry Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computer software and digital products, and property management of buildings	468,580	2	-	-	-	-	161,241) (	30	48,372) (	167,245	-	-
Qingdao Buynow Technology Industry Co., Ltd.	Manufacturing, sale, research and development of computers and computer peripherals. Display, advisory and after-sales service of digital products. Property management of self-owned buildings	551,402	2 BUYNOW (WUHAN) CORPORATI ON	133,021	-	-	133,021	54,213) (	100	54,213) (	486,015	-	-
Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computer software and digital products	106,622	2	76,158	-	-	76,158	59,500	100	59,500	1,736,715	-	-
Wuxi Buynow Electronic Market Co., Ltd.	Leasing of facility, market management service, catering management, property management, parking lot management	2,454	3	-	-	-	-	19	100	19	2,340	-	-
Buynow (Harbin) Industry Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products	111,364	2	111,364	-	-	111,364	41,463	100	41,463	120,755	-	-
Buynow (Chongqing) Industry Co., Ltd.	Manufacturing, sale, research and development of computers and computer peripherals (not including electronic publishing), shopping mall management, wholesale and retail of electronic products, property management and parking lot service	164,167	2	164,167	-	-	164,167	8,801	100	8,801	1,065,693	-	-

Table 10 Page 5

Investee in Mainland China	Main business activities	Paid-in capital	Investment method （Note 1）	Accumulated amount of remittance from Taiwan to Mainland China as of January 1, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2020	Net income of investee for the nine- month period ended December 31, 2020	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for year ended December 31, 2020 （Note 2）	Book value of investments in Mainland China as of December 31, 2020	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2020	Footnote
					Remitted to Mainland China	Remitted back to Taiwan
Shanghai Buynow Online Information Technology Co., Ltd.	Wholesale and retail, import and export, and after-sales service of household appliances, computer and computer components, communication equipment, electrical devices, office supplies and complementary products; development, technology transfer, advisory, service and training of Internet, computer software and hardware and communication equipment	32,630 $	2	32,630 $	- $	- $	32,630 $	535) ($	100	535) ($	11,383) ($	-	-
Daqing Buynow Electronic Information Co., Ltd.	Manufacturing, retail and wholesale of computers and computer peripherals, and electronic information shopping mall management	98,158	2	98,158	-	-	98,158	8,345	100	8,345	11,713) (	-	-
Buynow Electronic Information (Hui zhou) Co., Ltd	Manufacturing, sale, research and development and after-sales service of computers and computer peripherals; property management of buildings	120,115	2	211,996	-	-	211,996	28,378) (	100	28,378) (	217,863) (	-	-
Shantou Buynow Mall Co., Ltd.	Investment in companies primarily engaged in research and development and advisory service	574,562	2	574,562	-	-	574,562	215,486) (	100	215,486) (	253,206	-	-
Zibo Buynow Electronic Information Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products. Advisory of business management, leasing of self-owned buildings, parking lot management, shopping mall management and property management	98,012	2	98,012	-	-	98,012	11,391) (	100	11,391) (	77,347) (	-	-

Table 10 Page 6

Investee in Mainland China	Main business activities	Paid-in capital	Investment method （Note 1）	Accumulated amount of remittance from Taiwan to Mainland China as of January 1, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2020	Net income of investee for the nine- month period ended December 31, 2020	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for year ended December 31, 2020 （Note 2）	Book value of investments in Mainland China as of December 31, 2020	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2020	Footnote
					Remitted to Mainland China	Remitted back to Taiwan
Yingkou Buynow Electronic Information Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products, and advisory of business management	464,194 $	2	464,194 $	- $	- $	464,194 $	318) ($	100	318) ($	409,420 $	-	-
Anshan Buynow Electronic Information Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products, and advisory of business management	1,150,017	2	1,150,017	-	-	1,150,017	315,464) (	100	315,464) (	796,833	-	-
Clevo (China) Investment Co., Ltd.	Investment in companies primarily engaged in research and development and advisory service	897,135	2	897,135	-	-	897,135	63,411) (	100	63,411) (	2,312,874	-	-
Guiyang Buynow Electronic Information Co., Ltd.	Research and development of computers and computer peripherals and electronic products, and advisory service of business management	303,271	2	303,271	-	-	303,271	345) (	100	345) (	257,375	-	-
Taizhou Buynow Electronic Information Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products, and advisory of business management	507,871	2	507,871	-	-	507,871	749) (	100	749) (	290,989	-	-
Suzhou Jinzuo Industry Co., Ltd.	Business affairs and property management business	480,460	2	1,008,954	-	-	1,008,954	47,527	100	47,527	995,790	-	-
Dezhou Buynow Electronic Information Co., Ltd.	Research and development and maintenance service of computers and computer peripherals and electronic products; advisory service of business management and shopping mall management	881,914	2	881,914	-	-	881,914	143,604) (	100	143,604) (	164,068	-	-
Luoyang Buynow Electronic Information Co., Ltd.	Research and development and maintenance service of computers and computer peripherals and electronic products; advisory service of business management and shopping mall management	893,922	2	893,922	-	-	893,922	47,306) (	100	47,306) (	195,151	-	-

Table 10 Page 7

Investee in Mainland China	Main business activities	Paid-in capital	Investment method （Note 1）	Accumulated amount of remittance from Taiwan to Mainland China as of January 1, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for year ended December 31, 2020	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2020	Net income of investee for the nine- month period ended December 31, 2020	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for year ended December 31, 2020 （Note 2）	Book value of investments in Mainland China as of December 31, 2020	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2020	Footnote
					Remitted to Mainland China	Remitted back to Taiwan
Quanzhou Buynow Industry Co., Ltd.	Research and development and maintenance service of computers and computer peripherals and electronic products; advisory service of business management and shopping mall management	446,195 $	2	446,195 $	- $	- $	446,195 $	5,220) ($	100	5,220) ($	437,607 $	-	-
Buynow (Jinzhou) Industry Co., Ltd.	Manufacturing of computer software and hardware and consumer electronic products, advisory of business management and shopping mall management	448,342	2	448,342	-	-	448,342	33,741) (	100	33,741) (	313,020	-	-
Kunshan Kaishuo Trading Co., Ltd.	Mechanical equipment and accessories, wire and cable, air conditioning equipment, building and decoration material, lighting equipment, kitchen appliance, water cleaner, pipeline and accessories, fire safety equipment, compressor and accessories, wholesale of elevators and appliances, import and export and advisory services	30,198	2	30,198	-	-	30,198	2,210	100	2,210	27,543	-	-
Shanghai Huihei Advertisment Co., Ltd.	Advertising design and marketing	4,850	3	-	-	-	-	64	100	64	5,604	-	-
Shanghai Huizhuan Restaurant Management Co., Ltd.	Catering business management	22,884	3	-	-	-	-	11,934) (	100	11,934) (	27,063) (	-	-
Xiamen Lejing Internet Bar Co., Ltd.	Internet café and internet message service	465	3	-	-	-	-	3,357	100	3,357	-	-	-

Note 1: Investment methods are classified into the following three categories; fill in the number of category each case belongs to:

(1) Directly invest in a company in Mainland China.

(2) Through investing in an existing company in the third area, which then invested in the investee in Mainland China.

(3) Others

Note 2: In the ‘Investment income (loss) recognised by the Company for year ended December 31, 2020 was reviewed by independent auditors.

Note 3: The numbers in this table are expressed in New Taiwan dollars.

Table 10 Page 8

			Ceiling on
			investments in
			Mainland China
	Accumulated amount of	Investment amount approved by the	imposed by the
	remittance from Taiwan to	Investment Commission of the	Investment
	Mainland China as of	Ministry of Economic Affairs	Commission of
Companyname	December 31,2020	(MOEA)	MOEA
CLEVO CO.	$ 13,393,300	$ 15,095,064	$ 23,927,483
(USD	421,680 thousand of USD)	(USD 466,227 thousand of USD)

• Note 1: According to the amended regulation, "The Principle of Investment and Technical Cooperation in China", issued by Ministry of Economic Affairs on August 29, 2008 (No. 09704604680), the investor can only make an investment toward China up to 60% of its individual or consolidated net worth, whichever is larger. The ultimate limit of investment is 60% of the consolidated net worth. (39,879,138x 60% = 23,927,483)

• Note 2: It has been liquidated as of December 31, 2020, and has been approved to invest US$4,120,000 by the Ministry of Economic Affairs.

• Note 3: As of December 31, 2020, the capital increased by the earnings extension which has been approved by the Ministry of Economic Affairs for an investment of US$30,426,900.

• Note 4: Guiyang Buynow Electronic Information Co., Ltd. has been approved by the Ministry of Economic Affairs for

• an investment of US$10,000,000. However, it remains unremitted until December 31, 2020.

Table 10 Page 9

CLEVO CO. and Subsidiaries Major shareholders information December 31, 2020

Table 11

Name of major shareholders	Shares	Shares
	Name of shares held	Ownership (%)
Kent Hsu Huatai Investment Co., Ltd.	51,701,335 37,326,144	7.71% 5.57%

Table 11 Page 1