CLEVO CO. — Audit Report / Information 2021

Dec 29, 2021

CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS AND

INDEPENDENT AUDITORS’ REPORT DECEMBER 31, 2021 AND 2020

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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.

PWCR21000479

Opinion

We have audited the accompanying consolidated balance sheets of Clevo Co. and its subsidiaries (the “Group”) as at December 31, 2021 and 2020, 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, 2021 and 2020, 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 audits 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. 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 2021 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 2021 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, 2021, the Group’s investment properties at fair value amounted to NT$62,408,602 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 considered 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(23) for details of operating revenue. As at December 31, 2021, the Group’s rental revenue amounted to NT$2,561,967 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 considered 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, 2021, the balance of inventory and allowance for inventory valuation losses amounted to NT$5,045,845 thousand and NT$351,868 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 considered 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, 2021 and 2020.

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 28, 2022

------------------------------------------------------------------------------------------------------------------------------------------------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, 2021 AND 2020

(Expressed in thousands of New Taiwan dollars)

ASSETS	Notes 6(1) 6(2) 6(1) and 8 6(3) 6(4) 6(1), 7 and 8 6(1) and 8 6(5) 6(6) and 8 6(7), 7 and 8 6(9) and 8 6(10) 6(30) 6(1)(11) and 8	December 31, 2021 AMOUNT % $ 3,816,041 4 2,530,073 3 3,912 - 3,426,401 4 274 - 4,693,977 5 1,383,409 1 15,854,087 17 24,318 - 2,649,192 3 2,533,892 3 4,158,671 5 62,408,602 68 18,423 - 387,328 - 3,259,614 4 75,440,040 83 $ 91,294,127 100	December 31, 2020	December 31, 2020
		AMOUNT $ 3,816,041 2,530,073 3,912 3,426,401 274 4,693,977 1,383,409 15,854,087 24,318 2,649,192 2,533,892 4,158,671 62,408,602 18,423 387,328 3,259,614 75,440,040 $ 91,294,127	AMOUNT $ 4,918,051 1,609,467 814,113 2,248,910 272 3,709,265 935,809 14,235,887 25,836 3,448,208 4,711,606 4,527,645 63,638,847 30,705 612,834 3,034,654 80,030,335 $ 94,266,222	%
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 1220 Current income tax assets 130X Inventories 1470 Oher 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				5 2 1 2 - 4 1
				15
				- 4 5 5 67 - 1 3
				85
				100

(Continued)

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CLEVO CO. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2021 AND 2020

(Expressed in thousands of New Taiwan dollars)

LIABILITIES AND EQUITY

December 31, 2021 December 31, 2020 Notes AMOUNT % AMOUNT % 6(14) $ 4,746,423 5 $ 6,856,140 7 6(2) - - 15,781 - 6(23) 88,153 - 179,636 - 10,124 - 12,094 - 2,393,963 3 1,855,455 2 7 347,988 - 242,174 - 1,364,019 2 1,324,323 2 378,031 - 189,550 - 6(18) 58,523 - 53,523 - 7 62,634 - 15,963 - 6(16) 3,798,480 4 6,594,537 7 512,461 1 476,156 1 13,760,799 15 17,815,332 19 6(15) 5,000,000 6 5,000,000 6 6(16) 17,871,867 20 18,096,378 19 6(30) 12,002,907 13 12,208,609 13 7 221,390 - 96,305 - 6(17) and 7 1,126,740 1 1,170,460 1 36,222,904 40 36,571,752 39 49,983,703 55 54,387,084 58 6(19) 6,497,630 7 6,697,630 7 6(20) 73,478 - 95,864 - 6(21) 1,908,529 2 1,831,206 2 35,684,459 39 36,717,272 39 3,149,950 3 1,118,868 1 6(22) ( 4,628,787) ( 5) ( 4,928,011) ( 5 ) 6(19) ( 1,374,835) ( 1) ( 1,653,691) ( 2 ) 41,310,424 45 39,879,138 42 41,310,424 45 39,879,138 42 9 11 $ 91,294,127 100 $ 94,266,222 100

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 commitments Significant events after the balance sheet date 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, 2021 AND 2020

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

Items

Year ended December 31 2021 2020 Notes AMOUNT % AMOUNT % 6(23) and 7 $ 26,991,842 100 $ 20,238,946 100 6(4)(28)(29) and 7 ( 21,676,266) ( 80) ( 15,882,827) ( 79) 5,315,576 20 4,356,119 21 6(28)(29) ( 1,202,125) ( 5) ( 1,095,907) ( 5) ( 1,384,771) ( 5) ( 1,234,436) ( 6) ( 632,583) ( 2) ( 547,461) ( 3) 12(2) ( 6,258) - ( 2,132) - ( 3,225,737) ( 12) ( 2,879,936) ( 14) 2,089,839 8 1,476,183 7 6(24) 18,191 - 67,743 - 6(25) 231,626 1 248,817 1 6(26) 371,554 1 ( 229,855) ( 1) 6(27) and 7 ( 638,943) ( 2) ( 908,631) ( 4) 6(5) 178,579 1 41,948 - 161,007 1 ( 779,978) ( 4) 2,250,846 9 696,205 3 6(30) ( 454,496) ( 2) ( 29,261) - $ 1,796,350 7 $ 666,944 3

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 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 income 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, 2021 AND 2020

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

Items	Year ended December 31 2021 2020 Notes AMOUNT % AMOUNT 6(17) $ - - $ 54,574 6(30) - - ( 10,915) - - 43,659 6(22) 316,774 1 ( 91,391) 6(22) 4,215 - ( 748) 6(22)(30) ( 843) - 149 320,146 1 ( 91,990) $ 320,146 1 ($ 48,331) $ 2,116,496 8 $ 618,613 $ 1,796,350 7 $ 666,944 $ 2,116,496 8 $ 618,613 6(31) $ 3.03 $ $ 3.00 $	Year ended December 31	Year ended December 31	Year ended December 31
		2021	2020 % AMOUNT - $ 54,574 - ( 10,915) - 43,659 1 ( 91,391) - ( 748) - 149 1 ( 91,990) 1 ($ 48,331) 8 $ 618,613 7 $ 666,944 8 $ 618,613 3.03 $ 3.00 $	2020
					%
Other comprehensive income Components of other comprehensive income that will not be reclassified to profit or loss 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 income (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 income (loss) that will be reclassified to profit or loss 8300 Total other comprehensive income (loss) for the year 8500 Total comprehensive income for the year Profit attributable to: 8610 Owners of the parent Comprehensive income attributable to: 8710 Owners of the parent Earnings per share (in dollars) 9750 Basic earnings per share 9850 Diluted earnings per share					- -
					-
					- - -
					-
					-
					3
					3
					3
					1.12
		$		$	1.11

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, 2021 AND 2020

(Expressed in thousands of New Taiwan dollars)

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) Appropriations of 2019 earnings 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 Year ended December 31, 2021 Balance at January 1, 2021 Profit for the year Other comprehensive income for the year Total comprehensive income Appropriations of 2020 earnings Legal reserve Special reserve Cash dividends Treasury stock acquired Treasury stock retired Past due dividends not received by shareholders Adjustment to capital surplus arising from dividends paid to subsidiaries Reversal of special reserve Proceeds from disposal of property, plant and equipment Balance at December 31, 2021	Notes							Equity attributable to	Equity attributable to	Equity attributable to	o	wners of the parent	wners of the parent							Total equity
			Ordinary share			Capital Reserves						Retained Earnings			Other EquityInterest			Treasury shares
				Total capital surplus, additional paid-in capital		Capital surplus, treasury share transactions		Capital surplus, donated assets received		Legal reserve		Special reserve		Unappropriated retained earnings	Exchange differences on translation of foreign financial statements		Asset revaluation increment
	6(22) 6(21) 6(21) 6(19) 6(22) 6(21) 6(19) 6(22)	$ 6,697,630 - - - - - - - - - $ 6,697,630 $ 6,697,630 - - - - - - - ( 200,000 ) - - - - $ 6,497,630		$ 306,904 - - - - - ( 248,906 ) - - - $ 57,998 $ 57,998 - - - - - - - ( 1,731 ) - - - - $ 56,267	$ 27,047 - - - - - - - 10,819 - $ 37,866 $ 37,866 - - - - - - - ( 37,866 ) - 16,228 - - $ 16,228			$ - - - - - - - - - - $ - $ - - - - - - - - - 983 - - - $ 983		$ 1,724,342 - - - 106,864 - - - - - $ 1,831,206 $ 1,831,206 - - - 77,323 - - - - - - - - $ 1,908,529	$ 36,131,662 - - - - 993,875 - - - ( 408,265 ) $ 36,717,272 $ 36,717,272 - - - - 507,614 - - - - - ( 1,540,427 ) - $ 35,684,459		$ 1,100,739 666,944 43,659 710,603 ( 106,864 ) ( 993,875 ) - - - 408,265 $ 1,118,868 $ 1,118,868 1,796,350 - 1,796,350 ( 77,323 ) ( 507,614 ) ( 373,358 ) - ( 368,322 ) - - 1,561,349 - $ 3,149,950		($ 4,856,943 ) - ( 91,990 ) ( 91,990 ) - - - - - - ($ 4,948,933 ) ($ 4,948,933 ) - 320,146 320,146 - - - - - - - - - ($ 4,628,787 )	$ 20,922 - - - - - - - - - $ 20,922 $ 20,922 - - - - - - - - - - - ( 20,922 ) $ -		($ 1,357,042 ) - - - - - - ( 296,649 ) - - ($ 1,653,691 ) ($ 1,653,691 ) - - - - - - ( 329,063 ) 607,919 - - - - ($ 1,374,835 )	$ 39,795,261 666,944 ( 48,331 ) 618,613 - - ( 248,906 ) ( 296,649 ) 10,819 - $ 39,879,138 $ 39,879,138 1,796,350 320,146 2,116,496 - - ( 373,358 ) ( 329,063 ) - 983 16,228 20,922 ( 20,922 ) $ 41,310,424

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, 2021 AND 2020

(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 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) loss on disposal of investment property Gain on disposal of property, plant and equitment Loss on disposal of intangible assets Loss on disposal of investments Loss on adjustment of investment properties at fair value Impairment loss on property, plant and equipment Impairment loss on non-current asset held for sale Gain arising from transfer of right in sale and lease-back transaction Gain arising from lease modifications 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 Notes 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

Year ended December 31 Notes 2021 2020 $ 2,250,846 $ 696,205 6(6)(7)(28) 265,934 290,236 6(10)(28) 10,991 11,612 12(2) 6,258 2,132 6(2)(26) ( 145,601 ) ( 271,284 ) 6(27) 638,943 908,631 6(24) ( 18,191 ) ( 67,743 ) 6(25) ( 33,936 ) ( 30,435 ) 6(5) ( 178,579 ) ( 41,948 ) 6(26) ( 221,868 ) 4,252 6(26) ( 438 ) ( 103 ) 6(26) 2,882 - 6(2)(26) 3,443 95,088 6(9)(26) 538,288 55,918 6(12)(26) 556,573 - 6(13)(26) - 54,627 6(26) ( 1,080,862 ) - 6(7)(26) ( 2,747 ) - ( 802,581 ) ( 430,266 ) ( 1,182,112 ) ( 252,693 ) ( 324,197 ) 345,587 6(4) ( 32,107 ) ( 31,917 ) ( 135,419 ) 180,000 ( 22,365 ) ( 11,247 ) ( 1,970 ) ( 757 ) 538,508 274,609 105,814 ( 75,917 ) 220,673 20,958 5,000 3,000 36,306 ( 102,996 ) ( 11,566 ) 30,544 985,920 1,656,093 19,231 72,659 6(32) 488,327 30,435 ( 639,020 ) ( 925,024 ) ( 339,767 ) ( 154,341 ) 514,691 679,822

(Continued)

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CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2021 AND 2020

(Expressed in thousands of New Taiwan dollars)

CASH FLOWS FROM INVESTING ACTIVITIES Acquisition of property, plant and equipment Proceeds from disposal of property, plant and equipment Decrease in refundable deposits Acquisition of intangible assets Acquisition of investment properties Proceeds from disposal of non-current assets classified as held for sale Interest paid (capitalisation of interest) Decrease (increase) in financial assets at amortised cost - current Decrease (increase) in financial assets at amortised cost - non- current Increase 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 in other payables - related parties 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 Net cash flows used in financing activities Changes in exchange rates Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year

Year ended December 31 Notes 2021 2020 6(32) ( $ 158,235 ) ( $ 378,857 ) 6(32) 4,002,931 35,331 2,369 16,227 6(10) ( 1,442 ) ( 12,461 ) 6(32) ( 132,302 ) ( 129,543 ) 6(32) 215,298 2,201,760 6(9) ( 148,679 ) ( 151,641 ) 810,201 ( 166,061 ) 1,518 ( 2,319 ) ( 376,736 ) ( 315,745 ) 4,214,923 1,096,691 57,282,997 81,050,167 ( 59,404,771 ) ( 83,419,869 ) - ( 215,650 ) - ( 200,000 ) 37,402,576 25,350,858 ( 40,511,039 ) ( 26,795,824 ) ( 31,624 ) ( 13,012 ) 6(21) ( 373,358 ) ( 248,906 ) 6(19) ( 329,063 ) ( 296,649 ) 6(33) ( 27,059 ) ( 14,017 ) ( 5,991,341 ) ( 4,802,902 ) 159,717 ( 103,344 ) ( 1,102,010 ) ( 3,129,733 ) 4,918,051 8,047,784 $ 3,816,041 $ 4,918,051

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, 2021 AND 2020

(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.

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

STATEMENTS AND PROCEDURES FOR AUTHORISATION

These consolidated financial statements were authorised for issuance by the Board of Directors on March 28, 2022.

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 2021 are as follows:

New Standards,Interpretations andAmendments Amendments to IFRS 4, ‘Extension of the temporary exemption from applying IFRS 9’ Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, ‘Interest Rate Benchmark Reform— Phase 2’ Amendment to IFRS 16, ‘Covid-19-related rent concessions beyond 30 June 2021’	Effective date by International Accounting StandardsBoard
	January 1, 2021 January 1, 2021 April 1, 2021 (Note)

Note: Earlier application from January 1, 2021 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.

~16~

(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 2022 are as follows:

follows:
New Standards,Interpretations andAmendments Amendments to IFRS 3, ‘Reference to the conceptual framework’ Amendments to IAS 16, ‘Property, plant and equipment: proceeds before intended use’ Amendments to IAS 37, ‘Onerous contracts - cost of fulfilling a contract’ Annual improvements to IFRSs 2018-2020 cycle	Effective date by International Accounting StandardsBoard
	January 1, 2022 January 1, 2022 January 1, 2022 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.

(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:

endorsed by the FSC are as follows:
New Standards,Interpretations and Amendments	Effective date by International Accounting Standards Board To be determined by International Accounting Standards Board January 1, 2023 January 1, 2023 January 1, 2023 January 1, 2023 January 1, 2023 January 1, 2023 January 1, 2023
Amendments to IFRS 10 and IAS 28, ‘Sale or contribution of assets between an investor and its associate or joint venture’ IFRS 17, ‘Insurance contracts’ Amendments to IFRS 17, ‘Insurance contracts’ Amendments to IFRS 17, ‘Initial application of IFRS 17 and IFRS 9 - comparative information’ Amendments to IAS 1, ‘Classification of liabilities as current or non- current’ Amendments to IAS 1, ‘Disclosure of accounting policies’ Amendments to IAS 8, ‘Definition of accounting estimates’ Amendments to IAS 12, ‘Deferred tax related to assets and liabilities arising from a single transaction’

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

~17~

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.

• (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.

~18~

• (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.

• B. Subsidiaries included in the consolidated financial statements:

Name of investor	Name of subsidiary	Main business activities	December 31,2021 December 31,2020 100 100 100 100 100 100 100 100 100 100 100 100 Ownership (%)	Description
			December 31,2021
The Company The Company The Company The Company The Company The 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	Management and advisory of computers Investing Investing Design and sale of computers and computer peripherals Investing Investing	100 100 100 100 100 100

~19~

Name of investor Name of subsidiary Main business activities Clevo (Cayman Islands) Holding Company Buynow Global Corporation Investing Clevo (Cayman Islands) Holding Company Buynow (Hangzhou) Corporatioon Investing Clevo (Cayman Islands) Holding Company Buynow (Zhengzhou) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow Group (Changsha) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow (Nanchang) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow (Guangzhou) Corporation Investing Clevo (Cayman Islands) Holding Company Flying Wolf Investment Limited Investing Clevo (Cayman Islands) Holding Company Buynow (Xiamen) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow Group (Xian) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow (Changchun) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow Group (Qingdao) Corporation Investing	December 31,2021 December 31,2020 Ownership (%) 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100	Description

~20~

Name of investor Name of subsidiary Main business activities Clevo (Cayman Islands) Holding Company Buynow (Wuxi) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow (Harbin) Corporation Investing Clevo (Cayman Islands) Holding Company Flying International Investment Limited Investing Clevo (Cayman Islands) Holding Company Buynow (Chongqing) Limited Investing Clevo (Cayman Islands) Holding Company Buynow (Daqing) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow (Zibo) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow (Beijing) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow (Yancheng) Corporation Investing Clevo (Cayman Islands) Holding Company Skill Develop International Limited Investing Clevo (Cayman Islands) Holding Company Buynow (Yingkou) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow (Anshan) Corporation Investing	December 31,2021 December 31,2020 Ownership (%) 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100	Description

~21~

Name of investor Name of subsidiary Main business activities Clevo (Cayman Islands) Holding Company Buynow (Huizhou) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow (Guiyang) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow (Taizhou) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow (Dezhou) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow (Luoyang) Corporation Investing Clevo (Cayman Islands) Holding Company Smarter Capital Limited Investing Clevo (Cayman Islands) Holding Company Buynow (Fujian Quanzhou) Corporation Investing Clevo (Cayman Islands) Holding Company Buynow (Jinzhou) Corporation Investing Clevo (Cayman Islands) Holding Company Clevo (China) Investment Co., Ltd. Investing in companies, setting up R&D department and consultation service Clevo (Cayman Islands) Holding Company Buynow (Shantou) Corporation Investing	December 31,2021 December 31,2020 Ownership (%) 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100	Description

~22~

Name of investor Name of subsidiary Main business activities Clevo (Cayman Islands) Holding Company Clevo (HK) Investment Holding Limited Investing Buynow On-line Holding Corporation Buynow On-line Limited Investing Skill Develop International Limited Well Asia Investment Limited Investing Clevo Computer Singapore Pte Ltd. Buynow (Chengdu) Corporation Investing Clevo Computer Singapore Pte Ltd. Buynow (Nanjing) Facility Leasing and Management Co., Ltd. Manufacturing, sale, research and development of computers and computer peripherals and services for related electronics products Clevo Computer Singapore Pte Ltd. Kalor Buynow (Heifei) Electronic Information Co., Ltd. Manufacturing, sale, research and development of computers and computer peripherals and services for related electronics products	December 31,2021 December 31,2020 Ownership (%) - 100 100 100 100 100 100 100 100 100 100 100	Description (Note 4)

~23~

Name of investor Name of subsidiary Main business activities Clevo Computer Singapore Pte Ltd. 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 Buynow Group (Qingdao) Corporation 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 Kapok Computer (Samoa) Corporation Kapok Computer (Kunshan) Co., Ltd. Manufacturing, sale, research and development and maintenance service of computers, notebooks, tablets, information and communication products and computer components	December 31,2021 December 31,2020 Ownership (%) 8.82 8.82 20.59 20.59 100 100	Description (Note 1) (Note 1)

~24~

Name of investor Name of subsidiary Main business activities Buynow Global Corporation Shanghai Buynow Electronic Information Co., Ltd. Rental of exhibition, advisory, maintenance service and property management of computer and related electronics products Buynow Global Corporation 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 Buynow Global Corporation 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	December 31,2021 December 31,2020 Ownership (%) 21.21 21.21 100 100 100 100	Description (Note 1)

~25~

Name of investor Name of subsidiary Main business activities Buynow (Hangzhou) Corporation Buynow (Hangzhou) Electronic Information Co., Ltd. Manufacturing, sale, research and development and after-sales service of computers and computer peripherals; Property management of buildings Buynow Group (Xian) Corporation Buynow (Xian) Industry Co., Ltd. Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products Buynow Group (Changsha) Corporation Buynow (Changsha) Industry Co., Ltd. Manufacturing, sale, research and development and after-sales services of computers and computer peripherals; Property management of buildings Buynow (Zhengzhou) Corporation Buynow (Zhengzhou) Electronic Information Co., Ltd. Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products	December 31,2021 December 31,2020 Ownership (%) 100 100 100 100 100 100 100 100	Description

~26~

Name of investor Name of subsidiary Main business activities Buynow (Nanchang) Corporation Buynow (Nanchang) Industry Co., Ltd. Manufacturing, sale, research and development and after-sales services of computers and computer peripherals; Property management of buildings Buynow (Guangzhou) Corporation Buynow Electronic Information (Guangzhou) Co., Ltd. Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products Buynow (Xiamen) Corporation Buynow (Fujian) Electronic Technology Development Co., Ltd. Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products Buynow (Changchun) Corporation Buynow (Changchun) Industry Co., Ltd. Manufacturing, sale, maintenance service, research and development of computers and computer peripherals; Property management of buildings	December 31,2021 December 31,2020 Ownership (%) 38.29 100 100 100 100 100 95.24 95.24	Description (Note 3) (Note 1)

~27~

Name of investor Name of subsidiary Main business activities Flying Wolf Investment Limited Buynow (Changchun) Industry Co., Ltd. Manufacturing, sale, maintenance service, research and development of computers and computer peripherals; Property management of buildings Flying Wolf Investment Limited Buynow Electronic Information (Shenyang) Co., Ltd. Research and development of computers and computer peripherals and electronic products; Advisory services of economic information Flying Wolf Investment Limited Buynow (Wuxi) Electronic Technology Development Co., Ltd. Manufacturing, sale, maintenance service, research and development of computer software and digital products Buynow (Wuxi) Corporation Buynow (Wuxi) Electronic Technology Development Co., Ltd. Manufacturing, sale, maintenance service, research and development of computer software and digital products	December 31,2021 December 31,2020 Ownership (%) 4.76 4.76 100 100 28.57 28.57 71.43 71.43	Description (Note 1) (Note 1) (Note 1)

~28~

Name of investor Name of subsidiary Main business activities Buynow (Harbin) Corporation Buynow (Harbin) Industry Co., Ltd. Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products Buynow (Chengdu) Corporation Buynow (Chengdu) Electronic Information Co., Ltd. Manufacturing, sale, maintenance service, research and development of computers and computer peripherals; Property management of buildings Flying International Investment Limited Tianjin Buynow Electronic Information Co., Ltd. Manufacturing, sale, research and development of computers and computer peripherals and digital products Buynow (Chongqing) Limited 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	December 31,2021 December 31,2020 Ownership (%) 100 100 100 100 100 100 100 100	Description

~29~

Name of investor Name of subsidiary Main business activities Buynow On-line Limited 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 for internet, computer software and hardware and communication equipment Buynow (Daqing) Corporation Daqing Buynow Electronic Information Co., Ltd. Manufacturing, retail and wholesale of computers and computer peripherals; Electronic information shopping mall management	December 31,2021 December 31,2020 Ownership (%) 100 100 100 100	Description

~30~

Name of investor Name of subsidiary Main business activities Well Asia Investment Limited Guangdong Buynow Real Estate Management Co., Ltd. Self-owned property management and leasing; Manufacturing, research and development of computer software and hardware and digital products Buynow (Zibo) Corporation Zibo Buynow Electronic Information Co., Ltd. Manufacturing, sale, maintenance service, research 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) Corporation 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	December 31,2021 December 31,2020 Ownership (%) 65 65 100 100 76 76	Description (Note 1) (Note 1)

~31~

Name of investor Name of subsidiary Main business activities Buynow (Yancheng) Corporation Buynow (Yancheng) Electronic Information Technology Development Co. Ltd. Manufacturing, maintenance service, research and development of computers and computer peripherals and digital products, and advisory of business management Buynow (Huizhou) Corporation Buynow Electronic Information (Huizhou) Co., Ltd. Industrial investment, management advisory of business, property management, computer network workshop and advertisement production Buynow (Yingkou) Corporation Yingkou Buynow Electronic Information Co., Ltd. Manufacturing, maintenance service, research and development of computers and computer peripherals and digital products, and business management advisory services	December 31,2021 December 31,2020 Ownership (%) 100 100 40 40 100 100	Description (Note 1)

~32~

Name of investor Name of subsidiary Main business activities Buynow (Anshan) Corporation Anshan Buynow Electronic Information Co., Ltd. Manufacturing, maintenance service, research and development of computers and computer peripherals and digital products, and business management advisory services Buynow (Guiyang) Corporation Guiyang Buynow Electronic Information Co., Ltd. Research and development of computers and computer peripherals and electronic products, and business management advisory services Buynow (Taizhou) Corporation Taizhou Buynow Electronic Information Co., Ltd. Manufacturing, maintenance service, research and development of computers and computer peripherals and digital products, and business management advisory services Smarter Capital Limited Buynow SZ. Corporation Investing Buynow SZ. Corporation Suzhou Jinzuo Industry Co., Ltd. Business affairs and property management business	December 31,2021 December 31,2020 Ownership (%) 100 100 100 100 100 100 100 100 100 100	Description

~33~

Name of investor Name of subsidiary Main business activities Buynow (Dezhou) Corporation Dezhou Buynow Electronic Information Co., Ltd. Research and development and maintenance service of computers and computer peripherals and electronic products; Business management advisory services and shopping mall management Buynow (Luoyang) Corporation Luoyang Buynow Electronic Information Co., Ltd. Research and development and maintenance service of computers and computer peripherals and electronic products; Business management advisory services and shopping mall management Buynow (Fujian Quanzhou) Corporation Quanzhou Buynow Industry Co., Ltd. Research and development and maintenance service of computers and computer peripherals and electronic products; Business management advisory services and shopping mall management	December 31,2021 December 31,2020 Ownership (%) 48.6 100 100 100 100 100	Description (Note 2)

~34~

Name of investor Name of subsidiary Main business activities Buynow (Jinzhou) Corporation Buynow (Jinzhou) Industry Co., Ltd. Manufacturing of computer software and hardware and consumer electronic products; Business management advisory services and shopping mall management Buynow (Shantou) Corporation Shantou Buynow Mall Co., Ltd. Investment in companies primarily engaged in research and development and advisory services Kapok Computer (Kunshan) Co., Ltd. Kunshan Kaiming Trading Co., Ltd. Provide market management services for operators of laptop computers, tablets, desktop computers, palmtop computers, information and communication products and computer components Shanghai Buynow Electronic Information Co., Ltd. Shanghai Buynow Electronic Products Market Management Co., Ltd. Provide market management services for operators of electronic products	December 31,2021 December 31,2020 Ownership (%) 100 100 100 100 100 100 100 100	Description

~35~

Name of investor Name of subsidiary Main business activities Shanghai Buynow Electronic Products Market Management Co., Ltd. Shanghai Huihei Advertisment Co., Ltd. Advertising design and marketing Shanghai Buynow Electronic Products Market Management Co., Ltd. Shanghai Huizhuan Restaurant Management Co., Ltd. Catering business management Quality Trust Property Management Co., Ltd. Wuxi Quantai Property Management Co., Ltd. Property management, real estate advisory services, building leasing, housekeeping service, parking lot service, car wash service and business service Buynow (Wuxi) Corporation Wuxi Buynow Electronic Market Co., Ltd. Leasing of facility, market management service, catering management, property management, parking lot management	December 31,2021 December 31,2020 Ownership (%) 100 100 80 80 100 100 100 100	Description (Note 1)

~36~

Name of investor Name of subsidiary Main business activities Buynow (Wuxi) Corporation Beijing Kaiye Electronic Technology Co., Ltd. Technology extension services, computer 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 Electronic Information (Guangzhou) Co., Ltd. Guandong Huijing Real Estate Development Co., Ltd. Self-owned property management and leasing, manufacturing, sale, research and development of computer software and hardware and digital products Buynow Electronic Information (Guangzhou) Co., Ltd. Buynow Electronic Information (Huizhou) Co., Ltd. Industrial investment, business management advisory services, property management, computer network workshop and advertisement production	December 31,2021 December 31,2020 Ownership (%) 12.5 12.5 35 35 60 60	Description (Note 1) (Note 1) (Note 1)

~37~

Name of investor Name of subsidiary Main business activities Clevo (China) Investment Co., Ltd. Shanghai Huizhuan Restaurant Management Co., Ltd. Catering business management Clevo (China) Investment Co., Ltd. Shanghai Buynow Electronic Information Co., Ltd. Leasing of exhibition space for computer and electronic products, information advisory, maintenance service and property management Clevo (China) Investment Co., Ltd. Qingdao Buynow Technology Industrial Co., Ltd. Leasing of exhibition space for computer and electronic products, information advisory, maintenance service and property management	December 31,2021 December 31,2020 Ownership (%) 20 20 78.79 78.79 70.59 70.59	Description (Note 1) (Note 1) (Note 1)

~38~

Name of investor Name of subsidiary Main business activities Kalor Buynow (Heifei) Electronic Information Co., Ltd. Beijing Kaiye Electronic Technology Co., Ltd. Technology extension services, computer 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 Electronic Information (Zhengzhou) Beijing Kaiye Electronic Technology Co., Ltd. Technology extension services, computer 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	December 31,2021 December 31,2020 Ownership (%) 12.5 12.5 12.5 12.5	Description (Note 1) (Note 1)

~39~

Name of investor Name of subsidiary Main business activities Buynow (Changchun) Industry Co., Ltd. Beijing Kaiye Electronic Technology Co., Ltd. Technology extension services, computer 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 Buynow (Nanchang) Industry Co., Ltd. Beijing Kaiye Electronic Technology Co., Ltd. Technology extension services, computer 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	December 31,2021 December 31,2020 Ownership (%) 12.5 12.5 25 25	Description (Note 1) (Note 1)

~40~

Name of investor Name of subsidiary Main business activities Buynow (Hangzhou) Electronic Information Co., Ltd. Beijing Kaiye Electronic Technology Co., Ltd. Technology extension services, computer 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 Tianjin Buynow Electronic Information Co., Ltd. Beijing Kaiye Electronic Technology Co., Ltd. Technology extension services, computer 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	December 31,2021 December 31,2020 Ownership (%) 12.5 12.5 12.5 12.5	Description (Note 1) (Note 1)

~41~

Name of investor Name of subsidiary Main business activities Buynow (Changchun) Industry Co., Ltd. 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 Buynow Electronic Information (Zhengzhou) 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 Buynow (Chengdu) Electronic Information Co., Ltd. Dezhou Buynow Electronic Information Co., Ltd. Research and development and maintenance service of computers and computer peripherals and electronic products; Business management advisory services and shopping mall management	December 31,2021 December 31,2020 Ownership (%) 12.39 12.39 11.61 11.61 12.85 -	Description (Note 1) (Note 1) (Note 2)

~42~

Name of investor Name of subsidiary Main business activities Buynow (Zhengzhou) Electronic Information Co., Ltd. Dezhou Buynow Electronic Information Co., Ltd. Research and development and maintenance service of computers and computer peripherals and electronic products; Business management advisory services and shopping mall management Guangdong Buynow Real Estate Management Co., Ltd. Dezhou Buynow Electronic Information Co., Ltd. Research and development and maintenance service of computers and computer peripherals and electronic products; Business management advisory services and shopping mall management Buynow (Changchun) Industry Co., Ltd. Dezhou Buynow Electronic Information Co., Ltd. Research and development and maintenance service of computers and computer peripherals and electronic products; Business management advisory services and shopping mall management	December 31,2021 December 31,2020 Ownership (%) 12.85 - 12.85 - 12.85 -	Description (Note 2) (Note 2) (Note 2)

~43~

Name of investor Name of subsidiary Main business activities Research and development, production, and sale of computer software and hardware; after-sales services for aforementioned products and property management Research and development, production, and sale of computer software and hardware; after-sales services for aforementioned products and property management Research and development, production, and sale of computer software and hardware; after-sales services for aforementioned products and property management Buynow (Harbin) Industry Co., Ltd. Buynow (Nanchang) Industry Co., Ltd. Clevo (China) Investment Co., Ltd. Buynow (Nanchang) Industry Co., Ltd. Dezhou Buynow Electronic Information Co., Ltd. Buynow (Nanchang) Industry Co., Ltd.	December 31,2021 December 31,2020 Ownership (%) 12.34 - 9.26 - 15.43 -	Description (Note 3) (Note 3) (Note 3)

~44~

Name of investor Name of subsidiary Main business activities Research and development, production, and sale of computer software and hardware; after-sales services for aforementioned products and property management Research and development, production, and sale of computer software and hardware; after-sales services for aforementioned products and property management Research and development, production, and sale of computer software and hardware; after-sales services for aforementioned products and property management Shantou Buynow Mall Co., Ltd. Buynow (Nanchang) Industry Co., Ltd. Anshan Buynow Electronic Information Co., Ltd. Buynow (Nanchang) Industry Co., Ltd. Shanghai Buynow Electronic Information Co., Ltd. Buynow (Nanchang) Industry Co., Ltd.	December 31,2021 December 31,2020 Ownership (%) 7.71 - 9.26 - 7.71 -	Description (Note 3) (Note 3) (Note 3)

• 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 May 17, 2021, Dezhou Buynow Electronic Information Co., Ltd. increased its capital, and consequently, the ownership percentage held by Buynow (Dezhou) Corporation decreased from 100% to 48.6%; the ownership percentage held by Buynow (Chengdu) Electronic Information Co., Ltd., Buynow (Zhengzhou) Electronic Information Co., Ltd.,

~45~

Guangdong Buynow Real Estate Management Co., Ltd. and Buynow (Changchun) Industry Co., Ltd. increased from 0% to 12.85%. The parent company of the Group held 100% of the shares in the subsidiary, and the subsidiary was included in the consolidated financial statements .

• Note 3: On November 19, 2021, Buynow (Nanchang) Industry Co., Ltd. increased its capital. Consequently, the equity interest held by Buynow (Nanchang) Corporation decreased from 100% to 38.29% as new shareholders subscribed to the capital increase as follows: Dezhou Buynow Electronic Information Co., Ltd. holding 15.43% equity interest, Buynow (Harbin) Industry Co., Ltd. holding 12.34% equity interest, Clevo (China) Investment Co., Ltd. and Anshan Buynow Electronic Information Co., Ltd. each holding 9.26% equity interest, and Shanghai Buynow Electronic Information Co., Ltd. and Shantou Buynow Mall Co., Ltd. each holding 7.71% equity interest. The parent company of the Group held 100% of the shares in the subsidiary, and the subsidiary was included in the consolidated financial statements.

• Note 4: The registration of Clevo (HK) Investment Holding Limited was cancelled on July 30, 2021.

• 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, 2021 December 31, 2020 100 100 Ownership (%)	Description (Note)
The Company

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, 2021 and 2020.

• 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.

~46~

Foreign exchange gains and losses resulting from the settlement of such transactions are 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.

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(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.

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• (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 receivable

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

• B. The short-term accounts 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 capitalise borrowing costs incurred during the period of construction.

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

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assets or liabilities were disposed of. If it retains significant influence over this associate, the 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 capitalised.

• 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:

  • Buildings and structures 2 ~50 years Machinery and equipment 3 ~ 5 years Molding equipment 1 ~ 3 years Computer and communication equipment 3 ~ 5 years

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Transportation equipment 1 ~ 5 years 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 capitalised 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.

1. 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, 2021, the carrying amount of inventories was $4,693,977.

• 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, 2021, the carrying amount of investment property was $62,408,602.

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	December31,2021			December31,2020
		3,089 $ 3,713,115 99,837 3,816,041 $		1,684 $ 2,227,954 2,688,413 4,918,051 $

• 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 $28,230 and $839,949 were classified as financial assets at amortized cost as of December 31, 2021 and 2020, respectively.

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• C. Demand deposits pledged to others as collateral for borrowings amounting to $65,397 and $0 were classified as ‘other current assets’ as of December 31, 2021 and 2020, respectively.

• D. Demand deposits pledged to others as collateral for bonds payable amounting to $1,018,549 and $1,022,720 were classified as ‘other non-current assets’ as of December 31, 2021 and 2020, respectively.

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

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

Assets items December 31, 2021 December 31, 2020
Current items:
Financial assets mandatorily
measured at fair value through
profit or loss
Listed stocks $ 913,241 $ 481,102
Beneficiary certificates 982,801 619,591
Derivative instruments 2,727 9,351
Valuation adjustment 631,304 499,423
$ 2,530,073 $ 1,609,467
December 31, 2021 December 31, 2020
Liabilities items
Current items:
Financial liabilities designated as
at fair value through profit or loss $ - ($ 15,781)
Forward foreign exchange contracts $ - ($ 15,781)
----- 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:
Financial assets mandatorily measured at fair value through profit or loss Equity instruments Beneficiary certificates Derivative instruments Financial libilities desiganted as at fair value through profit or loss Forward foreign exchange contracts		Year ended
	December 31,2021 December 31,2020 954) ($ 28,674) ($ 133,955 211,300 9,157 9,351 142,158 191,977 - 15,781) ( - 15,781) ( 142,158 $ 176,196 $

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• 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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----- Start of picture text -----

December 31, 2021
Contract amount
Derivative financial liabilities (notional principal) Contract period
Current items:
Forward foreign exchange contracts USD $ 9,000 2021/09/10~2022/09/14
December 31, 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
----- End of picture text -----

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 Less: Allowance for uncollectible accounts	December31,2021	December31,2020
	3,470,290 $ 43,889) ( 3,426,401 $	2,288,178 $ 39,268) ( 2,248,910 $

~61~

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

Not past due Up to 30 days 31 to 90 days 91 to 180 days Over 180 days	December31,2021 December31,2020 2,232,041 $ 1,727,638 $ 1,071,075 443,958 68,487 49,709 35,704 17,220 62,983 49,653 3,470,290 $ 2,288,178 $

The above ageing analysis was based on past due date.

• B. As of December 31, 2021, December 31, 2020 and January 1, 2020, the balances of receivables from contracts with customers amounted to $3,470,290, $2,288,178, and $2,045,675, respectively.

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

• D. As at December 31, 2021 and 2020, 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 $3,246,401 and $2,248,910, 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(2).

• (4) Inventories

Inventories
Raw materials Semi-finished goods Finished goods Merchandise inventory Buildings and land held for sale Construction in progress			December 31,2021
		Cost 2,688,736 $ 133,279 6,945 33,334 2,862,294 1,413,828 769,723 $5,045,845	Allowance for valuation loss 70,557) ($ 5,035) ( 30) ( 4,621) ( 80,243) ( 271,625) ( - ($351,868)	Book value 2,618,179 $ 128,244 6,915 28,713 2,782,051 1,142,203 769,723 $4,693,977

~62~

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

• A. The cost of inventories recognised as expense for the years ended December 31, 2021 and 2020 was $21,676,266 and $15,882,827, respectively, including the amount of $26,183 and $22,031, respectively, that the Group wrote down inventories from cost to net realisable value accounted for as cost of goods sold, and $128,569 and $114,292, respectively, that the Group wrote down building and land held for sale from cost to net realisable value accounted for as cost of goods sold.

• B. The capitalised borrowing costs for the years ended December 31, 2021 and 2020 were $32,107 and $31,917, respectively, and the capitalised rates were 0%~5.03% and 3.00%~5.34%, respectively.

• C. The Group has no inventory pledged to others.

• (5) Investments accounted for using equity method

respectively. C. The Group has no inventory pledged to others. Investments accounted for using equity method
Associates: Chicony Square (Wuhan) Inc. Chicony Square (Cayman) Inc. Chicony Chengdu International Inc. Joint ventures: TAIPEI TWIN CORPORATION	December31,2021			December31,2020
		1,500,494 $ 121,505 59,897 967,296 2,649,192 $		2,361,152 $ 50,181 49,738 987,137 3,448,208 $

~63~

A. Associates:

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

Company name Chicony Square (Wuhan) Inc. Chicony Square (Cayman) Inc. Chicony Chengdu International Inc.	Principal place of business Nature of relationship Method of measurement December 31, 2021 December 31, 2020 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.
		December31,2021			December 31, 2020
Current assets		$	1,996,774		$	386,488
Non-current assets			4,631,864			7,517,517
Current liabilities	(		1,626,991)	(		33,498)
Total net assets		$	5,001,647		$	7,870,507
Carrying amount of the associate		$	1,500,494		$	2,361,152
			Chicony Square (Cayman)Inc.
		December31,2021			December31,2020
Current assets		$	1,888		$	2,072
Non-current assets			2,698,329			2,481,058
Current liabilities	(		219,574)	(		208,661)
Non-current liabilities	(		2,075,625)	(		2,107,200)
Total net assets		$	405,018		$	167,269
Carrying amount of the associate		$	121,505		$	50,181

~64~

Statement of comprehensive income December 31, 2021 December 31, 2020 Current assets 30 $ 30 $ Non-current assets 1,597,232 1,326,308 Total net assets 1,597,262 $ 1,326,338 $ Carrying amount of the associate 59,897 $ 49,738 $ Chicony Chengdu International Inc. December31,2021 December31,2020 Profit for the period from 410,332 $ 88,661) ($ continuing operations Other comprehensive income, net of tax 2,978 4,946) ( Total comprehensive income 413,310 $ 93,607) ($ Dividends received from associates 454,391 $ - $ Chicony Square (Wuhan) Inc. Yearended December31,2021 December31,2020 Profit for the period from 228,072 $ 224,337 $ continuing operations Other comprehensive income, net of tax 9,678 2,147 Total comprehensive income 237,750 $ 226,484 $ Dividends received from associates - $ - $ Chicony Square (Cayman) Inc. Year ended December31,2021 December 31, 2020 Profit for the period from 259,769 $ 209,943 $ continuing operations Other comprehensive income, net of tax 11,155 2,453 Total comprehensive income 270,924 $ 212,396 $ Dividends received from associates - $ - $ Chicony ChengduInternational Inc. Yearended	Statement of comprehensive income December 31, 2021 December 31, 2020 Current assets 30 $ 30 $ Non-current assets 1,597,232 1,326,308 Total net assets 1,597,262 $ 1,326,338 $ Carrying amount of the associate 59,897 $ 49,738 $ Chicony Chengdu International Inc. December31,2021 December31,2020 Profit for the period from 410,332 $ 88,661) ($ continuing operations Other comprehensive income, net of tax 2,978 4,946) ( Total comprehensive income 413,310 $ 93,607) ($ Dividends received from associates 454,391 $ - $ Chicony Square (Wuhan) Inc. Yearended December31,2021 December31,2020 Profit for the period from 228,072 $ 224,337 $ continuing operations Other comprehensive income, net of tax 9,678 2,147 Total comprehensive income 237,750 $ 226,484 $ Dividends received from associates - $ - $ Chicony Square (Cayman) Inc. Year ended December31,2021 December 31, 2020 Profit for the period from 259,769 $ 209,943 $ continuing operations Other comprehensive income, net of tax 11,155 2,453 Total comprehensive income 270,924 $ 212,396 $ Dividends received from associates - $ - $ Chicony ChengduInternational Inc. Yearended	Statement of comprehensive income December 31, 2021 December 31, 2020 Current assets 30 $ 30 $ Non-current assets 1,597,232 1,326,308 Total net assets 1,597,262 $ 1,326,338 $ Carrying amount of the associate 59,897 $ 49,738 $ Chicony Chengdu International Inc. December31,2021 December31,2020 Profit for the period from 410,332 $ 88,661) ($ continuing operations Other comprehensive income, net of tax 2,978 4,946) ( Total comprehensive income 413,310 $ 93,607) ($ Dividends received from associates 454,391 $ - $ Chicony Square (Wuhan) Inc. Yearended December31,2021 December31,2020 Profit for the period from 228,072 $ 224,337 $ continuing operations Other comprehensive income, net of tax 9,678 2,147 Total comprehensive income 237,750 $ 226,484 $ Dividends received from associates - $ - $ Chicony Square (Cayman) Inc. Year ended December31,2021 December 31, 2020 Profit for the period from 259,769 $ 209,943 $ continuing operations Other comprehensive income, net of tax 11,155 2,453 Total comprehensive income 270,924 $ 212,396 $ Dividends received from associates - $ - $ Chicony ChengduInternational Inc. Yearended	Statement of comprehensive income December 31, 2021 December 31, 2020 Current assets 30 $ 30 $ Non-current assets 1,597,232 1,326,308 Total net assets 1,597,262 $ 1,326,338 $ Carrying amount of the associate 59,897 $ 49,738 $ Chicony Chengdu International Inc. December31,2021 December31,2020 Profit for the period from 410,332 $ 88,661) ($ continuing operations Other comprehensive income, net of tax 2,978 4,946) ( Total comprehensive income 413,310 $ 93,607) ($ Dividends received from associates 454,391 $ - $ Chicony Square (Wuhan) Inc. Yearended December31,2021 December31,2020 Profit for the period from 228,072 $ 224,337 $ continuing operations Other comprehensive income, net of tax 9,678 2,147 Total comprehensive income 237,750 $ 226,484 $ Dividends received from associates - $ - $ Chicony Square (Cayman) Inc. Year ended December31,2021 December 31, 2020 Profit for the period from 259,769 $ 209,943 $ continuing operations Other comprehensive income, net of tax 11,155 2,453 Total comprehensive income 270,924 $ 212,396 $ Dividends received from associates - $ - $ Chicony ChengduInternational Inc. Yearended
		Year ended
		December31,2021 December31,2020 228,072 $ 224,337 $ 9,678 2,147 237,750 $ 226,484 $ - $ - $ Chicony ChengduInternational Inc.
		Yearended
		December31,2021 259,769 $ 11,155 270,924 $ - $	December 31, 2020 209,943 $ 2,453 212,396 $ - $

~65~

B. Joint ventures

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

		Shareholding ratio	Shareholding ratio
	Principal place	December	December	Nature of	Method of
Companyname	of business	31,2021	31,2020	relationship	measurement
TAIPEI TWIN CORPORATION	New Taipei City	50%	50%	Financial investment	Equity method

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

Balance sheet

follows: Balance sheet
			TAIPEI TWINCORPORATION
		December31,2021		December	31, 2020
Cash and cash equivalents		$	1,155,430	$	602,554
Other current assets			4,793		1,002,612
Current assets			1,160,223		1,605,166
Other non-current assets			954,743		384,876
Non-current assets			954,743		384,876
Total assets		$	2,114,966	$	1,990,042
Current liabilities	($		180,375)	($	15,768)
Total liabilities	(		180,375)	(	15,768)
Total net assets		$	1,934,591	$	1,974,274
Share in joint venture's net assets		$	967,296	$	987,137
Carrying amount of the joint venture		$	967,296	$	987,137

~66~

Statement of comprehensive income

Statement of comprehensive income
		TAIPEI TWIN CORPORATION
		Year	ended
	December31,2021		December	31,2020
Other operating expenses	($	42,342)	($	25,817)
Depreciation and amortisation	(	320)		-
Interest income		2,478		1,678
Other gains and losses		503	(	503)
Loss before income tax	(	39,681)	(	24,642)
Income tax expense		-		-
Loss, net of tax	($	39,681)	($	24,642)
Total comprehensive loss	($	39,681)	($	24,642)
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.

~67~

(6) Property, plant and equipment

2021

					2021
Land At January 1 Cost 186,563 $ Accumulated depreciation and impairment - 186,563 $ Opening net book amount as at January 1 186,563 $ Additions - Reclassifications - Disposals 186,563) ( Depreciation charge - Impairment loss - Net exchange differences - Closing net book amount as at December 31 - $ At December 31 Cost - $ Accumulated depreciation and impairemt - - $	Buildings and structures	Machinery and equipment	Molding equipmen t	Computers and communication equipment	Transportation equipment	Office equipment	Leasehold improvements	Other equipment	Construction in progress and equipment to be inspected Total 1,589,075 $ 5,904,995 $ - 1,193,389) ( 1,589,075 $ 4,711,606 $ 1,589,075 $ 4,711,606 $ 11,398 65,963 720,731) ( 1,206,620) ( - 326,314) ( - 191,866) ( 164,881) ( 556,573) ( 13,568 37,696 728,429 $ 2,533,892 $ 893,310 $ 4,630,254 $ 164,881) ( 2,096,362) ( 728,429 $ 2,533,892 $	Total
	3,111,643 $ 801,151) ( 2,310,492 $ 2,310,492 $ 1,771 352,715) ( 130,449) ( 120,931) ( 391,692) ( 19,169 1,335,645 $ 2,908,456 $ 1,572,811) ( 1,335,645 $	660,477 $ 134,140) ( 526,337 $ 526,337 $ 6,382 97,754) ( 145) ( 45,681) ( - 4,200 393,339 $ 535,600 $ 142,261) ( 393,339 $	10,903 $ 8,751) ( 2,152 $ 2,152 $ 9,343 - - 2,788) ( - 18 8,725 $ 15,168 $ 6,443) ( 8,725 $	68,864 $ 54,302) ( 14,562 $ 14,562 $ 8,084 65) ( 466) ( 4,815) ( - 104 17,404 $ 68,800 $ 51,396) ( 17,404 $	24,165 $ 19,362) ( 4,803 $ 4,803 $ 2,768 - 465) ( 1,512) ( - 39 5,633 $ 24,738 $ 19,105) ( 5,633 $	163,013 $ 123,078) ( 39,935 $ 39,935 $ 1,772 19,349) ( 4,827) ( 3,113) ( - 322 14,740 $ 97,532 $ 82,792) ( 14,740 $	47,857 $ 34,191) ( 13,666 $ 13,666 $ 21,737 1,706) ( 1,605) ( 9,657) ( - 110 22,545 $ 68,614 $ 46,069) ( 22,545 $	42,435 $ 18,414) ( 24,021 $ 24,021 $ 2,708 14,300) ( 1,794) ( 3,369) ( - 166 7,432 $ 18,036 $ 10,604) ( 7,432 $
										2,533,892 $

~68~

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						2020
	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	Transportation equipment	Office equipment	Leasehold improvements	Other epuipment
		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 $

A. Refer to Note 6(9) D for the amount of borrowing costs capitalized as part of unfinished construction and the range of the interest rates for the years ended December 31, 2021 and 2020.

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

~69~

• C. Impairment information about the property, plant and equipment is provided in Note 6(12).

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

E. To activate its assets, the Group entered into a sales and purchase agreement of land and buildings with the non-related party, TransGlobe Life Insurance Inc. (TransGlobe Life), as resolved by the Board of Directors on October 15, 2021, to sell the property, plant and equipment and investment property located on Xingde Rd., Sanchong Dist., New Taipei City in the amount of $4,100,000. The above transaction was completed in the fourth quarter of 2021. The Group leased back certain levels of the sold building for its operational use for a lease term of 4 years. Refer to Note 6(7)F for details. After deducting the carry amount of the assets and related transaction costs from proceeds of the transaction, Gains arising from transfer of right in sale and lease-back transaction amounted to $1,080,862, and gains on disposal of investment property amounted to $222,594, shown as other gains and losses. All proceeds from the transaction have been collected in December 2021.

(Remainder of page intentionally left blank)

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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:

Land Office Land Office
	December31,2021 Depreciation charge 47,880 $ 26,188 74,068 $

• C. For the years ended December 31, 2021 and 2020, the additions to right-of-use assets were $82,405 and $58,873, respectively.

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

==> picture [461 x 80] intentionally omitted <==

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

Year ended
Items affecting profit or loss December 31, 2021 December 31, 2020
Interest expense on lease liabilities $ 7,410 $ 6,759
Expense on short-term lease contracts $ 12,493 $ 11,525
-
Gains arising from lease modifications $ 2,747 $
----- End of picture text -----

• E. For the years ended December 31, 2021 and 2020, the Group’s total cash outflow for leases were $46,962 and $39,059, respectively.

• F. The Group sold certain levels of the building located on No. 129, Xingde Rd., Sanchong Dist., New Taipei City in the amount of $4,100,000 on November 29, 2021. The Group leased back the aforementioned sold assets for a lease term of 4 years, and the lease agreement does not include extension or purchase clauses. The rental payments for each year are $47,500, $47,500,$48,925 and $50,393, respectively.

• G. 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, 2021, the amount was $19,816), others are for shopping mall land use.

~71~

• H. 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 306,538 was paid and RMB 20,563 remains unpaid as of December 31, 2021. As of December 31, 2021, the transfer of property rights has not yet been completed.

• (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, 2021 and 2020, the Group recognised rent income on investment property in the amount of $2,625,452 and $2,496,266, 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:

2021 2022 2023 2024 2025 2026 2027 and after	December31,2021 - $ 349,816 353,397 359,046 368,193 364,092 1,381,103 3,175,647 $	December31,2020 469,125 $ 381,254 355,924 356,171 365,417 361,177 1,366,695 3,655,763 $

(9) Investment property

Investment property
		2021		2020
At January 1	$	63,638,847	$	63,013,015
Additions from subsequent expenditures		75,386		84,055
Disposals	(	2,229,634)	(	16,919)
Reclassifications		960,856		718,715
Net losses from fair value adjustment	(	538,288)	(	55,918)
Net exchange differences		501,435	(	104,101)
At December 31	$	62,408,602	$	63,638,847

~72~

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

Rental income from investment property Direct operating expenses arising from the investment property that generated rental income during the year Direct operating expenses arising from the investment property that did not generate rental income during the year	December31,2021 December 31, 2020 2,625,452 $ 2,496,266 $ 949,419 $ 795,074 $ 71,776 $ 113,922 $ Yearended

• B. Measurement of investment property at fair value

• The fair value of the investment property held by the Group as at December 31, 2021 and 2020 was $62,408,602, $63,638,847, 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 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 to 20 years (from 2019 to 2040) 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 capitalised 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.

~73~

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.

• (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, 2022 and 2021.

Summary of fair value disclosure on investment property:

Year ended December31,2021 Comparative information between local rent and similar objective property rent (dollar/square or square meter/month) Movements of earnings in the prior year Average occupancy rates	Buynow plaza
	$82~$4,878 $5,621~$253,399 89%

~74~

==> picture [454 x 31] intentionally omitted <==

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

Year ended
December 31, 2020 Computer segment Buynow plaza
----- End of picture text -----

Year ended December31,2020	Computersegment	Buynow plaza
Comparative information between local rent and similar objective property rent (dollar/square or square meter/month) Movements of earnings in the prior year Average occupancy rates Discount rate -Computer segment -Buynow plaza	$642~$898 $70,608 100% December31,2021	$90~$4,612 $3,922~$271,777 85% December31,2020
	- 4.75%~6.75%	3.10% 4.75%~6.75%

• C. The fair value information about the investment property is provided in Note 12(3).

• D. Amount of borrowing costs capitalised as part of unfinished construction, investment property and long-term lease prepayments and the range of the interest rates for such capitalisation are as follows:

follows:
Amount capitalised Range of the interest rates for capitalisation	Year ended
	December 31, 2021 $148,679 3.00%~5.30%	December31,2020 $151,641 3.00%~5.34%

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

~75~

(10) Intangible assets

)Intangible assets
						2021
				Software		Goodwill			Total
At January 1
Cost			$	20,452	$	10,253		$	30,705
At January 1			$	20,452	$	10,253		$	30,705
Additions-acquired separately				1,442		-			1,442
Disposals	(			2,882)		-	(		2,882)
Amortisation charge	(			10,991)		-	(		10,991)
Net exchange differences				67		82			149
At December 31			$	8,088	$	10,335		$	18,423
At December 31
Cost			$	8,088	$	10,335		$	18,423
						2020
				Software		Goodwill			Total
At January 1
Cost		$		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
Goodwill arose from Buynow segment of the Group.
Details of amortization on intangible assets	are as follows:

Administrative expenses Research and development expenses	Year ended	Year ended
	December31,2021 5,061 $ 5,930 10,991 $	December 31, 2020
		5,758 $ 5,854
		11,612 $

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(11) Other non-current assets

Other non-current assets
		December31,2021		December31,2020
Prepayments for construction	$	1,961,414	$	1,420,611
Restricted bank deposits		1,018,549		1,022,720
Guarantee deposits paid		43,161		45,211
Others		236,490		546,112
	$	3,259,614	$	3,034,654

(12) Impairment of non-financial assets

• A. The Group recognised impairment loss for the years ended December 31, 2021 and 2020 were $556,573 and $0, respectively. Details of such loss are as follows:

$556,573 and $0, respectively. Details of such loss are as follows:
Impairment loss －Buildings and structures －Construction in progress and equipment to be inspected	Year ended December31,2021
	Recognised inprofit or loss
	391,692 $ 164,881
	556,573 $

• B. The impairment loss reported by operating segments is as follows:

The impairment loss reported by operating segments is as follows:
Buynow plaza	Year ended December31,2021
	Recognised in profit or loss
	556,573 $

• C. In 2021, the current overall outlook for the real estate market in China resulted in an impairment in the Group’s property. The Group wrote down the carrying amount of the asset based on the recoverable amount and recognised an impairment loss of $556,573 accordingly. The recoverable amount is the property’s fair value less costs of disposal, estimated by reference to the transaction price of a property in similar location per square feet in accordance with the market approach and the professional appraisal report. The fair value is classified as a level 3 fair value.

• (13) Non-current assets held for sale

• A. 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.

• B. For the year ended December 31, 2020, impairment loss of $54,627 was 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.

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(14) Short-term borrowings

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Type of borrowings December 31, 2021 Interest rate range Collateral
Bank borrowings
S ecured borrowings $ 129,787 4.15% Investment property
Unsecured borrowings 4,616,636 0.57%~1.00% Promissory note
$ 4,746,423
Type of borrowings December 31, 2020 Interest rate range Collateral
Bank borrowings
Secured borrowings $ 306,757 4.15%~4.57% Investment property
Secured borrowing 497,299 0.59% Time deposits pledged
Unsecured borrowings 6,052,084 0.74%~1.00% Promissory note
$ 6,856,140
Bonds payable
December 31, 2021 December 31, 2020
Secured bonds payable $ 5,000,000 $ 5,000,000
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(15) Bonds payable

Secured bonds payable

• A. On August 22, 2019, Clevo Co. issued $5,000,000 secured bonds, as approved by the regulatory authority. As of December 31, 2021, the outstanding bonds payable was $5,000,000.

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

Type of Bonds Issuance date Period Amount Coupon rate Payment term Security 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 simple interest execute rate. corporate bond guarantee according to the guarantee agreement.

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- (16) Long term borrowings

Type of borrowings	Borrowing period and repayment term	Interest rate range	Collateral		December 31, 2021
		0.52%~1.05% 1.18%~1.797% 0.58%~0.67% 4.90% 5.15% 4.77%~5.32% 4.70%~5.30% 0.58%~0.67% 0.67%	Promissory note Promissory note Promissory note Investment property Property, plant and equipment Investment property Investment property Investment property Long-term prepaid rent and property, plant and equipment	$6,750,000 4,800,000 398,012 11,948,012 12,501 1,367,325 3,574,919 4,025,874 646,553 95,163 9,722,335 21,670,347 3,798,480) ( 17,871,867 $

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Type of borrowings	Borrowing period and repayment term	Interest rate range	Collateral		December31,2020
		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 property 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 $ 212,547 703,571 4,479,293 1,442,498 3,803,149 6,520,000 $ 6,028,571 237,507

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(17) 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:

			December31,2021			December31,2020
Present value of defined benefit
obligations		$	322,555		$	323,696
Fair value of plan assets	(		322,555)	(		314,798)
Net defined benefit liability		$	-		$	8,898

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

					2021
		Present value of			Fair value of
		defined benefit			plan		Net defined
			obligations		assets	benefitliability
Balance at January 1		$	323,696	($	314,798)	$	8,898
Current service cost			267		-		267
Interest expense (income)			1,327	(	1,291)		36
			325,290	(	316,089)		9,201
Remeasurements:
Return on plan assets
(excluding amounts included in
interest income or expense)
Change in demographic
assumptions			6,466		-		6,466
Change in financial assumptions			7,159		-		7,159
Experience adjustments	(		8,703)	(	4,922)	(	13,625)
			4,922	(	4,922)		-
Pension fund contribution			-	(	9,201)	(	9,201)
Paid pension	(		7,657)		7,657		-
Balance at December 31		$	322,555	($	322,555)	$	-
					2020
		Present value of			Fair value of
		defined benefit			plan		Net defined
			obligations		assets	benefitliability
Balance at January 1		$	387,480	($	315,395)	$	72,085
Current service cost			521		-		521
Interest expense (income)			2,945	(	2,397)		548
			390,946	(	317,792)		73,154
Remeasurements:
Return on plan assets
(excluding amounts included in
interest income or expense)
Change in demographic
assumptions	(		1,697)		-	(	1,697)
Change in financial assumptions	(		27,621)		-	(	27,621)
Experience adjustments	(		14,312)	(	10,944)	(	25,256)
	(		43,630)	(	10,944)	(	54,574)
Pension fund contribution			-	(	9,682)	(	9,682)
Paid pension	(		23,620)		23,620		-
Balance at December 31		$	323,696	($	314,798)	$	8,898

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• (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-thecounter, 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, 2021 and 2020 is given in the Annual Labor Retirement Fund Utilisation Report announced by the government.

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

The principal actuarial assumptions used	were as follows:	were as follows:
Discount rate Future salary increases	Year ended
	December 31, 2021 0.71% 2.00%	December31,2020
		0.41%
		1.50%

Future mortality rate was estimated based on the 6th 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:

Increase 0.5% Decrease 0.5% December31,2021 Effect on present value of defined benefit obligation 18,696) ($ 20,141 $ December31,2020 Effect on present value of defined benefit obligation 19,583) ($ 21,370 $ Discountrate	Increase 0.5% Decrease 0.5% 19,776 $ 18,556) ($ 21,024 $ 19,483) ($ Future salaryincreases

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.

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The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the previous period.

• (f) Expected contributions to the defined benefit pension plans of the Group for the year ending December 31, 2022 amount to $9,485.

• (g) As of December 31, 2021, the weighted average duration of the retirement plan is 12 years. The analysis of timing of the future pension payment was as follows:

Within 2 years	$	259,779
2-5 years		22,072
Over 5 years		14,043
	$	295,894

• 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 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, 2021 and 2020 were $35,360 and $35,849, respectively.

(18) Provisions

			Warranty	Warranty
			2021		2020
At January 1		$	53,523	$	50,523
Additional provisions			95,207		77,481
Used during the year	(		90,207)	(	74,481)
At December 31		$	58,523	$	53,523
Analysis of total provisions:
		December31,2021		December31,2020
Current		$	58,523	$	53,523

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

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(19) Share capital

• A. As of December 31, 2021, the Company’s authorised capital was $9,000,000 and the paid-in capital was $6,497,630, consisting of 649,763 thousand shares 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 authorised to issue depending on actual demand.

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

	2021	2020
At January 1	595,216	605,216
Shares retired	10,000) (	10,000) (
At December 31	585,216	595,216

• B. Treasury shares

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

shares are as follows:
Name of company holding the shares The Company Subsidiary-Kapok Computer Subsidiary-Clevo Investment	Reason for reacquisition	December31,2021
		Numberofshares Carrying amount 37,500 thousand $ 1,171,347 16,966 thousand 95,306 10,081 thousand 108,182
	To be reissued to employees Long-term investment Long-term investment

Name of company holding the shares	Reason for reacquisition	December	31,2020
		Number of shares	Carryingamount
The Company Subsidiary-Kapok Computer Subsidiary-Clevo Investment	To be reissued to employees Long-term investment Long-term investment	47,500 thousand 16,966 thousand 10,081 thousand	$ 1,450,204 95,306 108,182

• (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

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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.

(20) 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 capitalised 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.

(21) 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 authorised 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 allocation resolved by the shareholders. The Board of Directors is authorised to distribute all or part of dividends, bonuses, legal reserve and capital surplus in the form of cash by approval of more than half of directors present at a meeting attended by more than two thirds of the directors, and such distribution shall also be reported at the shareholders’ meeting.

• 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.

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• (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. Such amounts are reversed upon disposal or reclassified if the assets are investment property of land, and reversed over the use period if the assets are investment property other than land.

• (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 2020 and 2019 earnings as resolved by the shareholders on August 26, 2021 and June 19, 2020 are as follows:

Legal reserve Special reserve Cash dividends		2020			2019
		Amount Dividends per share (in dollars) 77,323 $ 507,614 373,358 0.6 $ 958,295 $		Amount	Dividends per share (indollars)
				106,864 $ 993,875 - 1,100,739 $	- $

The Company appropriated cash from capital surplus as resolved by the stockholders during their meeting on June 19, 2020. The dividend per share is NTD 0.4 for a total amount of $248,906. The above appropriations of 2020 and 2019 earnings are the same with those approved by the Board of Directors on March 26, 2021 and March 31, 2020, respectively.

• F. The appropriations of 2021 net income were resolved by the Board of Directors during its meeting on March 28, 2022 as follows:

			2021
				Dividends per share
			Amount	(indollars)
Legal reserve		$	302,123
Reverse of special reserve	(		493,824)
Cash dividends			1,285,752	$2.1
		$	1,094,051

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(22) Other equity items

2021

					2021
		Currency
		translation			Revaluation				Total
At January 1	($	4,948,933)		$	20,922			($	4,928,011)
Transferred to retained earnings		-	(		20,922)			(	20,922)
Currency translation differences:
–Group		316,774				-			316,774
–Associates		4,215				-			4,215
–Tax on associates	(	843)				-		(	843)
At December 31	($	4,628,787)	$			-		($	4,628,787)
					2020
		Currency
		translation			Revaluation				Total
At January 1	($	4,856,943)		$	20,922			($	4,836,021)
Currency translation differences:
–Group	(	91,391)				-		(	91,391)
–Associates	(	748)				-		(	748)
–Tax on associates		149				-			149
At December 31	($	4,948,933)	$		20,922			($	4,928,011)
Operating revenue
					Yearended
		December			31,2021		December31,2020
Revenue from contracts with customers
-Sales of computer products		$		22,844,822		$			16,212,628
-Sales of computer peripherals					590,916				125,039
-Land development and resale					443,679				837,973
-Hotel revenue					2,858				55,530
-Other revenue					547,600				582,039
Others-rental revenue					2,561,967				2,425,737
		$		26,991,842		$			20,238,946

(23) Operating revenue

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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:

Year ended December 31,2021	Computer Segment				Buynow Plaza	Buynow Plaza	Buynow Plaza
	Computer products		Land development and resale		Hotel accommodations revenue		Computer peripherals		Others
Total segment revenue Inter-segment revenue Revenue from external customer contracts Timing of revenue recognition At a point in time Over time Year ended December 31,2020	38,810,978 $ 15,966,156) ( 22,844,822 $ 22,844,822 $ - 22,844,822 $ Computer Segment		443,679 $ - 443,679 $ 443,679 $ - 443,679 $ Land development and resale				590,916 $ -		547,600 $ -
							590,916 $		547,600 $
							590,916 $ -		547,600 $ -
							590,916 $		547,600 $
									Others
	Computer products 27,188,709 $ 10,976,081) ( 16,212,628 $ 16,212,628 $ - 16,212,628 $
Total segment revenue Inter-segment revenue Revenue from external customer contracts Timing of revenue recognition At a point in time Over time			837,973 $ - 837,973 $ 837,973 $ - 837,973 $		55,530 $ - 55,530 $ - $ 55,530 55,530 $			582,039 $ - 582,039 $ 582,039 $ - 582,039 $

B. The Group derives hotel accommodations revenue from Hyatt Place Luoyang that was managed by Buynow (Zhengzhou) Electronic Information Co., Ltd. Luoyang branch. Hyatt Place Luoyang has ceased operations on January 31, 2021.

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C. Contract liabilities

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

Contract liabilities: Contract liabilities – Advance real estate receipts Contract liabilities – Advance sales receipts	December31,2021 $ 42,263 45,890 88,153 $	December31,2020 $ 112,028 67,608 179,636 $	January1,2020 527,687 $ 46,614
			574,301 $

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

• year

year
Revenue recognised that was included in the contract liability balance at the beginning of the year Advance real estate receipts Advance sales receipts	Yearended
	December31,2021 69,118 $ 67,068 136,186 $	December 31, 2020
		383,418 $ 34,360
		417,778 $

(24) Interest income

Interest income
Other income Interest income from bank deposits Rent income Dividend income Other income	Yearended
	December31,2021 December31,2020 18,191 $ 67,743 $ Year ended	December31,2020
		67,743 $
	December31,2021 63,485 $ 33,936 134,205 231,626 $	December31,2020
		70,529 $ 30,435 147,853
		248,817 $

(25) Other income

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(26) Other gains and losses

(27)

Finance costs December31,2021 December31,2020 Gains arising from sale and leaseback transactions 1,080,862 $ - $ Gains (losses) on disposals of investment property 221,868 4,252) ( Gains on financial assets (liabilities) at fair value through profit or loss 145,601 271,284 Foreign exchange gains (losses) 82,282 244,081) ( Gains arising from lease modifications 2,747 - Gains on disposals of property, plant and equipment 438 103 Losses on disposals of intangible assets 2,882) ( - Losses on disposals of investments 3,443) ( 95,088) ( Fee expense arising from financial liabilities not at fair value through profit or loss 7,213) ( 4,702) ( Losses on fair value adjustment, investment property 538,288) ( 55,918) ( Impairment loss: －Property, plant and equipment 556,573) ( - －Held for sale non-current assets - 54,627) ( Other losses 53,845) ( 42,574) ( 371,554 $ 229,855) ($ Yearended December31,2021 December31,2020 Bank borrowings 812,319 $ 1,085,430 $ Less: Capitalisation of qualifying assets 180,786) ( 183,558) ( 631,533 $ 901,872 $ Interest expense on lease liabilities 7,410 6,759 Interest expense 638,943 $ 908,631 $ Yearended

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(28) Expenses by nature

Expenses by nature
		Year	ended
	December	31,2021	December	31, 2020
Employee benefit expense	$	2,355,365	$	1,944,575
Depreciation charges on property, plant and
equipment		191,866		219,540
Depreciation charges on right-of-use assets		74,068		70,969
Amortisation charges on intangible assets		10,991		11,612
Operating costs and expenses	$	2,632,290	$	2,246,696

(29) Employee benefit expense

Employee benefit expense
Wages and salaries Labour and health insurance fees Pension costs Other personnel expenses	December 31, 2021 December 31, 2020 1,979,759 $ 1,642,899 $ 57,069 53,773 35,663 36,918 282,874 210,985 2,355,365 $ 1,944,575 $ Yearended
		1,642,899 $ 53,773 36,918 210,985
		1,944,575 $

• 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, 2021 and 2020, employees’ compensation were accrued $181,800 and $93,500, respectively; while directors’ and supervisors’ remuneration were accrued

• $22,200, $7,700, respectively. The aforementioned amounts were recognised in salary expenses. For the year ended December 31, 2021, 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, respectively.

• Employees’ compensation and directors’ and supervisors’ remuneration for 2020 as resolved by the Board of Directors were in agreement with those amounts recognised in the 2020 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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(30) 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	31,2021		December	31,2020
Current tax:
Current tax on profits for the year		$	528,192		$	344,391
Tax on undistributed surplus earnings			6,895			-
Prior year income tax overestimation	(		6,842)	(		25,670)
Total current tax			528,245			318,721
Deferred tax:
Origination and reversal of temporary
differences	(		73,749)	(		289,460)
Total deferred tax	(		73,749)	(		289,460)
Income tax expense		$	454,496		$	29,261

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

follows:
		Year	ended
	December31,2021			December	31,2020
Currency translation differences	($	843)		$	149
Remeasurement of defined benefit
obligations		-	(		10,915)
	($	843)	($		10,766)

B. Reconciliation between income tax expense and accounting profit

			Year	ended
Income/(Loss)			December31,2021	December	31,2020
Tax calculated based on profit before tax and		$	278,861	$	327,449
statutory tax rate
Temporary differences not recognised as
deferred tax assets			148,229	(	90,685)
Effect from expenses disallowed by tax
regulation	(		292,678)	(	34,099)
Taxable loss not recognised as deferred tax
assets			215,257		304,380
Change in assessment of realisation of
deferred tax assets			104,774	(	452,114)
Tax on undistributed surplus earnings			6,895		-
Prior year income tax overestimation	(		6,842)	(	25,670)
Income tax expense		$	454,496	$	29,261

~93~

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

are as follows:
Recognised January1 inprofit or loss Deferred tax assets: Temporary differences: Unrealised exchange losses 1,181 $ 1,181) ($ Allowance for bad debts 8,916 5,307) ( Allowance for spare valuation losses 1,581 2,191 Allowance for inventory valuation losses 39,015 31,879 Unused compensated absences 5,065 - Accrued pension liability 1,781 1,781) ( Currency translation differences 21,241 - Fair value adjustment, investment property 43,939 43,939) ( Tax losses 490,115 206,525) ( 612,834 224,663) ( Deferred tax liabilities: Temporary differences: Unrealised exchange gain - 12,215) ( Foreign investment income using equity method 519,461) ( 40,252) ( Rent by straight -line method 76,731) ( 1,047 Unrealised sales losses 548) ( 307) ( Increase in revaluation 4,285) ( 4,285 Accrued pension - 23) ( Fair value adjustment, investment property 11,607,584) ( 345,877 12,208,609) ( 298,412 11,595,775) ($ 73,749 $			2021
			Recognised in other comprehensive Translation income differences December31 - $ - $ - $ - - 3,609 - - 3,772 - - 70,894 - - 5,065 - - - 843) ( - 20,398 - - - - - 283,590 843) ( - 387,328 - - 12,215) ( - - 559,713) ( - - 75,684) ( - - 855) ( - - - - - 23) ( - 92,710) ( 11,354,417) ( - 92,710) ( 12,002,907) ( 843) ($ 92,710) ($ 11,615,579) ($		December31
					- $ 3,609 3,772 70,894 5,065 - 20,398 - 283,590
					387,328

~94~

Recognised in other Recognised comprehensive January1 inprofit or loss income Deferred tax assets: Temporary differences: Unrealised exchange losses 58,125 $ 56,944) ($ - $ Allowance for bad debts 11,677 2,761) ( - Allowance for spare valuation losses 1,526 55 - Allowance for inventory valuation losses 38,894 121 - Unused compensated absences 5,065 - - Accrued pension liability 14,418 1,722) ( 10,915) ( Currency translation differences - - 21,241 Fair value adjustment, investment property 14,088 29,851 - Tax losses 38,001 452,114 - 181,794 420,714 10,326 Deferred tax liabilities: Temporary differences: Foreign investment income using equity method 509,746) ( 9,715) ( - Difference from amortisation of long-term prepaid rent 79,003) ( 2,272 - Unrealised sales losses 542) ( 6) ( - Currency translation differences 21,092 - 21,092) ( Increase in revaluation 4,285) ( - - Fair value adjustment, investment property 11,502,198) ( 123,805) ( - 12,074,682) ( 131,254) ( 21,092) ( 11,892,888) ($ 289,460 $ 10,766) ($ 2020			2020
				Translation differences December31 - $ 1,181 $ - 8,916 - 1,581 - 39,015 - 5,065 - 1,781 - 21,241 - 43,939 - 490,115 - 612,834 - 519,461) ( - 76,731) ( - 548) ( - - - 4,285) ( 18,419 11,607,584) ( 18,419 12,208,609) ( 18,419 $ 11,595,775) ($	December31
					1,181 $ 8,916 1,581 39,015 5,065 1,781 21,241 43,939 490,115
					612,834

~95~

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

ollows:
Amount filed/ Unrecognised Year incurred assessed Unused amount deferred taxassets 2016 144,741 $ 35,244 $ - $ 2017 670,134 670,134 35,378 2020 394,410 394,410 394,410 December31,2020	Expiry year
	2026 2027 2030

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

Year incurred 2017 2018 2019 2020 2021	Amount filed/ assessed 738,745 $ 1,121,542 1,333,961 962,655 1,061,101	Unrecognised Unused amount deferred tax assets 696,032 $ 322,165 $ 852,018 634,220 1,327,027 1,168,192 962,651 778,869 1,061,101 861,026 December31,2021	Expiry year
			2022 2023 2024 2025 2026

Year incurred 2016 2017 2018 2019 2020	Amount filed/ assessed 616,690 $ 732,831 1,112,564 1,323,283 954,949	Unrecognised Unused amount deferred taxassets 520,928 $ 214,154 $ 720,967 284,325 878,630 552,251 1,321,387 1,123,229 954,945 823,110 December 31, 2020	Expiry year
			2021 2022 2023 2024 2025

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

December 31, 2021 December 31, 2020 Deductible temporary differences $ - $ 6,160

• G. The Company has not recognised taxable temporary differences associated with investment in subsidiaries as deferred tax liabilities. As of December 31, 2021 and 2020, the temporary differences unrecognised as deferred tax liabilities were $9,266,942 and $10,007,234, respectively

• H. The Company’s income tax returns through 2019 have been assessed and approved by the Tax Authority.

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(31) Earnings per share

Earnings per share
		Year	ended	December31,2021
			Weighted average
			number of ordinary		Earnings per
			shares outstanding			share
	Amount after tax		(shares in thousands)			(in dollars)
Basic earnings per share
Profit attributable to ordinary	$	1,796,350		593,451	$	3.03
shareholders of the parent
Diluted earnings per share
Profit attributable to ordinary	$	1,796,350		593,451
shareholders of the parent
Assumed conversion of all dilutive
potential ordinary shares
Employees’ bonus		-		6,236
Profit attributable to ordinary
shareholders of the parent plus
assumed conversion of all dilutive
potential ordinary shares	$	1,796,350		599,687	$	3.00
		Year	ended	December31,2020
			Weighted average
			number of ordinary		Earnings per
			shares outstanding			share
	Amount after tax		(shares in thousands)			(in dollars)
Basic earnings per share
Profit attributable to ordinary	$	666,944		597,825	$	1.12
shareholders of the parent
Diluted earnings per share
Profit attributable to ordinary	$	666,944		597,825
shareholders of the parent
Assumed conversion of all dilutive
potential ordinary shares
Employees’ bonus		-		4,167
Profit attributable to ordinary
shareholders of the parent plus
assumed conversion of all dilutive
potential ordinary shares	$	666,944		601,992	$	1.11

~97~

(32) Supplemental cash flow information

Investing activities with partial cash payments

			Year	ended
			December31,2021	December	31,2020
Purchase of property, plant and equipment		$	65,963	$	46,549
Add: Opening balance of payable			386,727		862,371
Ending balance of prepayment			3,896		3,139
Less: Ending balance of payable	(		263,725)	(	386,727)
Opening balance of prepayment	(		3,139)	(	103,138)
Capitalisation of interest	(		31,487)	(	43,337)
Cash paid during the year		$	158,235	$	378,857
Purchase of investment property		$	75,386	$	84,055
Add: Opening balance of payable			88,173		133,661
Less: Ending balance of payable	(		31,257)	(	88,173)
Cash paid during the year		$	132,302	$	129,543
Proceeds from disposal of property, plant
and equipment		$	4,002,931	$	20,709
Add: Opening balance of receivable			-		14,622
Less: Ending balance of receivable			-		-
Cash received during the period		$	4,002,931	$	35,331
Proceeds from disposal of non-current
asset held for sale		$	-	$	3,875,368
Less: Opening balance of prepayment			215,298		-
Less: Ending balance of receivable			-	(	1,458,310)
Opening balance of prepayment			-	(	215,298)
Cash received during the year		$	215,298	$	2,201,760
Dividend income		$	33,936	$	30,435
Add: Dividends received from investments
accounted for using the equity
method			932,780		-
Less: Ending balance of receivable	(		478,389)		-
Cash received during the year		$	488,327	$	30,435

~98~

(33) Changes in liabilities from financing activities

2021

	2021	2021	2021	2021	2021	2021
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 Bonds payable Lease liabilities Liabilities from financing activities- gross 6,856,140 $ 24,690,915 $ 5,000,000 $ 112,268 $ 36,659,323 $ 2,121,774) ( 3,108,463) ( - 27,059) ( 5,257,296) ( 12,057 87,895 - 1,829) ( 98,123 - - - 200,644 200,644 4,746,423 $ 21,670,347 $ 5,000,000 $ 284,024 $ 31,700,794 $ Short-term borrowings Long-term borrowings Bonds payable Lease liabilities Liabilities from financing activities- gross 9,228,429 $ 26,156,096 $ 5,200,000 $ 65,903 $ 40,650,428 $ 2,369,702) ( 1,444,966) ( 200,000) ( 14,017) ( 4,028,685) ( 2,587) ( 20,215) ( - 5,250) ( 28,052) ( - - - 65,632 65,632 6,856,140 $ 24,690,915 $ 5,000,000 $ 112,268 $ 36,659,323 $ 2020
	9,228,429 $ 2,369,702) ( 2,587) ( - 6,856,140 $		5,200,000 $ 200,000) ( - - 5,000,000 $		65,903 $ 14,017) ( 5,250) ( 65,632 112,268 $	40,650,428 $ 4,028,685) ( 28,052) ( 65,632 36,659,323 $

~99~

7. RELATED PARTY TRANSACTIONS

(1) Names of related parties and relationship

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Names of related parties Relationship with the Company
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Names of related parties	Relationship withthe Company
Significant related party transactions A.Operating revenue Kent Hsu Chicony Electronics (Suzhou) Co., Ltd. Chicony Power Technology Co., Ltd. Honghui Real Estate Company Chicony Dalu Enterprise (Chengdu) Co., Ltd. Chicony Square (Wuhan) Inc. Chicony Industry (Wuhan) Co., Ltd. Chicony Square (Wuhan) Inc. Chicony Square (Cayman) Inc. Epoque Corporation Taipei Twin Corporation Sales of goods: -Entity with joint control over this entity Sales of services: -Other related parties -Associates	Chairman Other related party Other related party Other related party Associate Associate Associate Associate Associate Same chairman Entity with joint control over this entity December31,2021 December31,2020 466 $ 374 $ 466 $ 374 $ 4,781 - 139 - 5,386 $ 374 $ Yearended
A.
	December31,2021 466 $ 466 $ 4,781 139 5,386 $

(2) Significant related party transactions

The Group (Buynow (China)) offered the services to other related parties and associates. B. Purchases

Sales of goods: -Other related parties	Year ended	Year ended
	December31,2021 1,046,051 $	December31,2020
		888,486 $

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.

~100~

C. Payables to related parties

Payables to related parties
Accounts payable: Chicony Electronics (Suzhou) Co., Ltd. Chicony Power Technology Co., Ltd.	December31,2021 237,004 $ 110,984 347,988 $	December31,2020 185,676 $ 56,498
		242,174 $

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

D. Other receivables from related parties (shown as other current assets)

Other receivables - dividends: －CHICONY SQUARE (WUHAN) INC. Other receivables - property transactions: Chicony Industry (Wuhan) Co., Ltd. Chicony Dalu Enterprise (Chengdu) Co., Ltd.	December31,2021 478,389 $ - - 478,389 $	December 31, 2020
		- $ 215,298 15,310
		230,608 $

The receivables from related parties arise mainly from dividends distributed by an investee accounted for using the equity method and sales of property, plant and equipment and right-of-use assets. The receivables are unsecured in nature and bear no interest

E. Property transactions

Disposal of non-current asset held for sale:

Chicony Industry (Wuhan) Co., Ltd.	Disposalproceeds Gain(loss)on disposal 3,875,368 $ - $ YearendedDecember31,2020

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

F. Loans from related parties

Loans from related parties

appraisal report. Loans from related parties Loans from related parties
Shown as other non-current liabilities - others: CHICONY SQUARE (CAYMAN) INC.	December31,2021 390,218 $	December31,2020
		396,154 $

~101~

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%~5.68% and 0%~5.78% per annum for the years ended December 31, 2021 and 2020, respectively. The amount of interest payable (recognised as other payables) as of December 31, 2021 and 2020 were both $0. Additionally, interest expense recognised for the years ended December 31, 2021 and 2020 were $3,536 and $6,518 respectively.

G. Lease transactions - lessee

• (a) The Group leased buildings from Honghui Real Estate Company. 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 the month.

• (b) Lease liabilities

• (i) Outstanding balance:

Interest expense Other related parties Other related parties	December31,2021 December 31, 2020 41,517 $ 56,273 $ Year ended	December 31, 2020
		56,273 $
	December31,2021 December 31, 2020 2,484 $ 3,971 $

• (ii) Interest expense

H. Others

• (a) The joint guarantor and co-issuer of the guarantee notes of bank borrowings is Kent Hsu for the years ended December 31, 2021 and 2020.

• (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	Year ended
	December 31, 2021 127,513 $ 1,244 128,757 $	December31,2020
		79,839 $ 1,233
		81,072 $

~102~

8. PLEDGED ASSETS

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

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Book value
Pledged asset December 31, 2021 December 31, 2020 Purpose
STANDBY L/C,
Financial assets at amortised cost long-term and
(current and non- current) $ 28,230 $ 839,949 short-term borrowings
-
Restricted bank deposits- current 65,397 Short-term borrowings
Corporate bonds payable
Restricted bank deposits - non-current 1,018,549 1,022,720 and long term borrowings
Property, plant and equipment
(non-depreciated balance) 1,195,560 2,731,419 Long-term borrowings
Investment property and right-of-use Long-term and
asset (long-term prepaid rents) 52,344,330 55,477,346 short-term borrowings
$ 54,652,066 $ 60,071,434
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9. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNISED CONTRACT

COMMITMENTS

(1) Contingencies

None.

(2) Commitments

• A. As of December 31, 2021 and 2020, the Company issued guarantee notes amounting to $22,710,525, and $25,673,888, 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, 2021 and 2020, the Group’s total contract prices for signed construction contracts amounted to $8,491,448 and $8,031,345 of which $7,667,993 and $7,395,801 were paid and $823,455 and $635,544 remain unpaid, respectively.

10. SIGNIFICANT DISASTER LOSS

• None.

11. SIGNIFICANT EVENTS AFTER THE BALANCE SHEET DATE

• (1) On February 25, 2022, the board of directors decided to lease the office of Honghui Si Yuan Plaza to Hon Hui Si Yuan Co., Ltd., a related party. Leasing period ranged from April 15, 2022 to April 14, 2025, a total of three years. Relevant information could be inquired at the Market Observation Post System..

• (2) The Board of Directors has resolved the appropriation of 2021 earnings on March 28, 2022. Details are provided in Note 6(21) F.

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12. OTHERS

(1) 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, 2021, the Group’s strategy, which was unchanged from 2020, was to maintain the gearing ratio within 40% to 60%. The gearing ratios at December 31, 2021 and 2020 were as follows:

2020 were as follows:
		December31,2021			December31,2020
Total borrowings		$	31,416,770		$	36,547,055
Less: Cash and cash
equivalents	(		3,816,041)	(		4,918,051)
Net debt			27,600,729			31,629,004
Total equity			41,310,424			39,879,138
Total capital		$	68,911,153		$	71,508,142
Gearing ratio			40%			44%

(2) Financial instruments

A. Financial instruments by category

nancial instruments Financial instruments by category
Financial assets Financial assets at fair value through profit or loss Financial assets at amortised cost Financial liabilities Financial liabilities at fair value through profit or loss Financial liabilities at amortised cost Lease liability	December31,2021 2,530,073 $ 8,925,923 11,455,996 $ - $ 36,576,456 36,576,456 $ 284,024 $	December31,2020
		1,609,467 $ 9,426,834
		11,036,301 $
		15,781 $ 41,056,849
		41,072,630 $
		112,268 $

~104~

• Note: Financial assets at amortised cost include cash and cash equivalents, accounts receivable, other receivables, guarantee deposits paid, time deposits unqualified as cash equivalents and restricted bank deposits; 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, and interest rate swaps are used to fix variable future cash flows.

• 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 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:

~105~

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, 2021 and 2020 amounted to $82,282 and ($244,081), respectively. Foreign currency amount (In thousands) Exchange rate Book value (NTD) Financial assets Monetary items USD:NTD 279,233 $ 27.68 7,729,169 $ USD:RMB 2,283 6.38 63,214 RMB:NTD 3,653 4.34 15,854 Investments accounted for using the equity method USD:NTD 60,762 27.68 1,681,896 Financial liabilities Monetary items USD:NTD 26,043 27.68 720,870 USD:RMB 225,156 6.38 6,234,390 December31,2021 (Foreign currency: functional currency) Foreign 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)

~106~

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

variation:	variation:	variation:	variation:	variation:
Degree of variation Effect on profit or loss Effect on other comprehensive income Financial assets Monetary items USD:NTD 1% 61,833 $ - $ USD:RMB 1% 506 - RMB:NTD 1% 127 - Financial liabilities Monetary items USD:NTD 1% 5,767 - USD:RMB 1% 49,875 - YearendedDecember31,2021 Sensitivity analysis (Foreign currency: functional currency) 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 - Year ended December31,2020 Sensitivityanalysis (Foreign currency: functional currency)
			Effect on profit or loss Effect on other comprehensive income 56,747 $ - $ 101 - 971 - 6,472 - 44,394 - Sensitivityanalysis
		Degree of variation	Effect on profit or loss
			56,747 $ 101 971 6,472 44,394	- $ - - - -

Price risk

• i.The Group’s equity securities, 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 equity securities, 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 equity securities would change due

~107~

to the change of the future value of investee companies. If the prices of these equity securities had increased/decreased by 1% with all other variables held constant, post-tax profit for the years ended December 31, 2021 and 2020 would have increased/decreased by $24,408 and $15,168, respectively, as a result of gains/losses on equity 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, 2021 and 2020, the Group’s borrowings at variable rate were mainly denominated in New Taiwan dollars, US dollars and RMB 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 constant, profit, net of tax for the years ended December 31, 2021 and 2020 would have decreased/increased by $205,769 and $246,183, 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.

~108~

• 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 the provision matrix to estimate expected credit loss.

• 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, 2021 and 2020, 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, 2021 and 2020, the provision matrix is as follows:

December31,2021	Not past due	1~90 days past due	91~180 days past due
Expected loss rate Total book value Loss allowance Expected loss rate Total book value Loss allowance	0.04%~6.83% 2,232,041 $ 715 181~270 days past due	0.06%~38.38% 1,139,562 $ 2,422 Over 270days	7.59%~57.31% 35,704 $ 965 Total
	63.46%~100% 27,646 $ 4,450	100% 35,337 $ 35,337	3,470,290 $ 43,889

~109~

				1~90 days		91~180 days
		Not past due		past due		past due
December 31, 2020
Expected loss rate	0.04%~6.09%			0.08%~32.16%	10.28%~47.11%
Total book value	$	1,727,638	$	493,667	$	17,220
Loss allowance		685		355		1,105
		181~270 days
		past due		Over 270 days		Total
Expected loss rate	70.54%~100%			100%
Total book value	$	18,866	$	30,787	$	2,288,178
Loss allowance		6,336		30,787		39,268

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

			2021		2020
		Accounts receivable			Accounts receivable
At January 1		$	39,268		48,704 $
Provision for impairment			6,258		2,132
Write-offs			-	(	11,211)
Effect of foreign exchange	(		1,637)	(	357)
At December 31		$	43,889		39,268 $

(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 and to the expected maturity date for derivative financial liabilities. The amounts disclosed in the table are the contractual undiscounted cash flows.

December31,2021	Less than 1 year	Between 1 and2years	Between 2 and 5 years	Over5 years
		70,390 $ 40,000 8,302,463 653,375 390,218	116,958 $ 5,025,973 7,984,000 - -	74,465 $ - 903,020 - -

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==> picture [427 x 47] intentionally omitted <==

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

Less than 1 Between 1 Between 2
December 31, 2020 year and 2 years and 5 years Over 5 years
Non-derivative financial liabilities
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Lease liability	$	21,234	$	21,234	$	37,903	$	77,913
Bonds payable		40,000		40,000		5,065,973		-
Long-term borrowings		6,756,454		5,387,367	11,377,894			1,836,279
(including current portion)
Guarantee deposits		-		679,593		-		-
received
Long-term accounts		-		-		396,154		-
payable to related parties
Derivative financial liabilities
Forward foreign exchange		15,781		-		-		-
contracts

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 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 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, other receivables, financial assets at amortised cost, short-term borrowings, notes payable, 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.

~111~

• 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, 2021 and 2020 is as follows:

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

December31,2021 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) December 31, 2020 Assets Recurring fair value measurements	Level 1 1,104,878 $ - 69,400 - 1,174,278 $ Level 1 668,976 $ - 110,144 - - 779,120 $	Level 2 - $ 2,727 1,353,068 - 1,355,795 $ Level 2 - $ 9,351 820,996 - 15,781) ( 814,566 $
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

Note 1 : Investment property measured at fair value.

• (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:

Market quoted price	Listed shares	Open-end fund
	Closing price	Net asset value

~112~

• 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 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 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.

• vi. 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, 2021 and 2020, 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, 2021 and 2020 is provided in Note 6(9).

• F. For the years ended December 31, 2021 and 2020, 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,

~113~

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:

Fair value at Significant Range December 31, Valuation unobservable (weighted Relationship of 2021 technique input average) inputs to fair value Investment $ 62,408,602 Income Long-term rent (Note) The higher the longproperty approach of revenue growth term rent revenue discounted rate and growth rate, the cash flow discount rate higher the fair value; method The higher the discount rate, the lower the fair value Fair value at Significant Range December 31, Valuation unobservable (weighted Relationship of 2020 technique input average) inputs to fair value Investment $ 63,638,847 Income Long-term rent (Note) The higher the longproperty approach of revenue growth term rent revenue discounted rate and growth rate, the cash flow discount rate higher the fair value; method The higher the discount rate, the lower the fair value

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

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

~114~

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, 2021, the Group’s open interest derivative instruments amounted to $2,727. The Group recognised net profit amounting to $5,221 on derivative instruments for the year ended December 31, 2021.

• 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, 2021, 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.

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.

~115~

(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:

Year ended December 31, 2021 Computer Segment BuynowPlaza Revenue from external customers 22,844,822 $ 4,146,128 $ Inter-segment revenue 15,966,156 - Total segment revenue 38,810,978 $ 4,146,128 $ External-segment income (before tax) 2,896,490 $ 651,993) ($ Segment income (after tax) 2,536,480 $ 746,479) ($ Segment income (loss), including Interest income 7,503 $ 10,688 $ Interest expense 126,468) ($ 512,475) ($ Depreciation and amortisation 78,349 $ 198,576 $ Gains arising from sale and leaseback 1,080,862 $ - $ transactions Gains (losses) on disposals of 222,594 $ 726) ($ investment property Fair value adjustment - investment property 301,698 $ 839,986) ($ Impairment loss on property, plant and equipment - $ 556,573) ($ Income tax expense (benefit) 360,010 $ 94,486) ($

Others Total 892 $ 26,991,842 $ - 15,966,156 892 $ 42,957,998 $ 6,349 $ 2,250,846 $ 6,349 $ 1,796,350 $ - $ 18,191 $ - $ 638,943) ($ - $ 276,925 $ - $ 1,080,862 $ - $ 221,868 $ - $ 538,288) ($ - $ 556,573) ($ - $ 454,496) ($

~116~

==> picture [476 x 268] intentionally omitted <==

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

Computer
Year ended December 31, 2020 Segment Buynow Plaza 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) $ 606,629 $ 81,419 $ 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 ($ 271,851) ($ 636,780) $ - ($ 908,631)
Depreciation and amortisation $ 80,803 $ 221,045 $ - $ 301,848
Gains (losses) on disposals of $ - ($ 4,252) $ - ($ 4,252)
investment property
Fair value adjustment - investment $ 342,072 ($ 397,990) $ - ($ 55,918)
property
Income tax expense $ 118,613 ($ 89,214) ($ 138) $ 29,261
----- End of picture text -----

(4) Reconciliation for segment income (loss)

Sales between segments are carried out at arm’s length. The revenue from external customers reported to the chief operating decision-maker is measured in a manner consistent with that in the statement of comprehensive income.

A reconciliation of reportable segment income or loss to the income/(loss) before tax from continuing operations for the years ended December 31, 2021 and 2020 is provided as follows:

		Year	ended	ended
Revenue		December31,2021		December31,2020
Reportable segments revenue	$	42,957,106		$	31,214,071
Other segments revenue		892			956
Elimination of intersegment revenue	(	15,966,156)	(		10,976,081)
Total revenue	$	26,991,842		$	20,238,946
		Year	ended
Income/(Loss)		December31,2021		December31,2020
Reportable segments income (after tax)	$	1,790,001		$	658,561
Other segments income (after tax)		6,349			8,383
Elimination of intersegment transactions		-			-
Income after tax from continuing operations	$	1,796,350		$	666,944

~117~

(5) Information on products and services

Information on products and services
		Year	ended
		December 31, 2021		December 31, 2020
Sales of computer products	$	22,844,822	$	16,212,628
Rental revenue		2,561,967		2,425,737
Sales of computer peripherals		590,916		125,039
Land development and resale from Buynow		443,679		837,973
Hotel revenue		2,858		55,530
Other revenue		547,600		582,039
	$	26,991,842	$	20,238,946

(6) Geographical information

Geographical information for the years ended December 31, 2021 and 2020 is as follows:

Revenue Sales of computer products China Asia-Pasific Europe the Americas Rental revenue China Sales of computer peripherals China Land development and resale China Hotel revenue China Other revenue China Total revenue	Yearended	Yearended
	December31,2021 6,577,708 $ 8,824,807 5,285,863 2,156,444 22,844,822 2,561,967 2,561,967 590,916 590,916 443,679 443,679 2,858 2,858 547,600 547,600 26,991,842 $	December31,2020
		4,316,389 $ 6,334,415 4,139,745 1,422,079
		16,212,628
		2,425,737
		2,425,737
		125,039
		125,039
		837,973
		837,973
		55,530
		55,530
		582,039
		582,039
		20,238,946 $

~118~

			Year	ended	ended
			December31,2021		December31,2020
Non-current	assets
China		$	72,310,430	$	72,600,181
Taiwan		$	49,929	$	1,252,625

(7) Major customer information

Major customer information of the Group for the years ended December 31, 2021 and 2020 is as follows:

A

B

	Year	ended
	December 31, 2021	December 31, 2020
	Revenue	Revenue
$	3,020,634	2,831,723 $
$	2,354,796	2,227,798 $

~119~

CLEVO CO. and Subsidiaries Loans to others Year ended December 31, 2021

Table 1

Expressed in thousands of NTD (Except as otherwise indicated)

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during the year ended December 31, 2021 (Note 3)	Balance at December 31, 2021 (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
1	Buynow (Hangzhou) Electronic Information Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	Other receivables - related parties - current	Yes	133,043 $	103,526 $	103,526 $	5.00%	2	- $	Additional operating capital	- $	-	- $	16,524,170 $	41,310,424 $	Note 8
1	Buynow (Hangzhou) Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	254,930	254,930	254,930	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
1	Buynow (Hangzhou) Electronic Information Co., Ltd.	Buynow (Guangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	15,192	-	-	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
1	Buynow (Hangzhou) Electronic Information Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	34,726	34,726	34,726	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
1	Buynow (Hangzhou) Electronic Information Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	91,589	45,143	45,143	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
1	Buynow (Hangzhou) Electronic Information Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	172,543	169,071	169,071	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
1	Buynow (Hangzhou) Electronic Information Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	138,035	138,035	138,035	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	Other receivables - related parties - current	Yes	29,734	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	404,989	404,989	404,989	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Other receivables - related parties - current	Yes	240,176	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Other receivables - related parties - current	Yes	17,363	17,363	17,363	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Buynow (Chongqing) Industry Co., Ltd.	Other receivables - related parties - current	Yes	7,379	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	149,321	104,828	104,828	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8

Table 1 Page 1

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during the year ended December 31, 2021 (Note 3)	Balance at December 31, 2021 (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
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Buynow Electronic Information (Huizhou) Co., Ltd	Other receivables - related parties - current	Yes	130,569 $	130,569 $	130,569 $	4.35%	2	- $	Additional operating capital	- $	-	- $	16,524,170 $	41,310,424 $	Note 8
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	Other receivables - related parties - current	Yes	157,134	27,346	27,346	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	108,518	108,518	108,518	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	53,912	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	318,825	318,825	318,825	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	13,022	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Quanzhou Buynow Industry Co., Ltd.	Other receivables - related parties - current	Yes	54,259	45,577	45,577	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	370,480	370,480	370,480	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	175,582	162,560	162,560	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	30,819	30,819	30,819	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	33,858	33,858	33,858	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Hangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	129,787	-	-	4.50%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	Other receivables - related parties - current	Yes	320,996	320,996	320,996	4.50%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8

Table 1 Page 2

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during the year ended December 31, 2021 (Note 3)	Balance at December 31, 2021 (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
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Guangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	170,590 $	170,590 $	170,590 $	4.50%	2	- $	Additional operating capital	- $	-	- $	16,524,170 $	41,310,424 $	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	170,677	170,677	170,677	4.50%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	644,900	644,900	644,900	4.50%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Daqing Buynow Electronic Information Corporation	Other receivables - related parties - current	Yes	97,232	97,232	97,232	4.50%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	88,551	88,551	88,551	4.50%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Shantou Buynow Mall Co., Ltd.	Other receivables - related parties - current	Yes	495,362	495,362	495,362	4.50%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	173,629	173,629	173,629	4.50%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Yingkou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	82,474	82,474	82,474	4.50%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	431,901	431,901	431,901	4.50%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	193,596	193,596	193,596	4.50%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	549,968	549,968	549,968	4.50%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Kunshan Kaishuo Trading Co., Ltd.	Other receivables - related parties - current	Yes	173,629	173,629	173,629	4.50%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	390,664	260,443	260,443	4.50%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8

Table 1 Page 3

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during the year ended December 31, 2021 (Note 3)	Balance at December 31, 2021 (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 (Nanchang) Industry Co., Ltd.	Buynow (Hangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	65,111 $	59,468 $	59,468 $	5.00%	2	- $	Additional operating capital	- $	-	- $	16,524,170 $	41,310,424 $	Note 8
5	Buynow (Nanchang) Industry Co., Ltd.	Buynow (Guangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	63,591	63,591	63,591	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
5	Buynow (Nanchang) Industry Co., Ltd.	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Other receivables - related parties - current	Yes	32,555	32,555	32,555	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
5	Buynow (Nanchang) Industry Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	259,922	198,067	198,067	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
5	Buynow (Nanchang) Industry Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	75,181	62,159	62,159	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
5	Buynow (Nanchang) Industry Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	79,869	74,226	74,226	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
5	Buynow (Nanchang) Industry Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	21,704	-	-	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
5	Buynow (Nanchang) Industry Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	229,276	93,412.00	93,412.00	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	Other receivables - related parties - current	Yes	90,157	90,157	90,157	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Buynow (Guangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	6,511	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Other receivables - related parties - current	Yes	13,022	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	165,989	80,911	80,911	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Beijing Kaiye Electronic Technology Co., Ltd.	Other receivables - related parties - current	Yes	54,259	-	-	0.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8

Table 1 Page 4

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during the year ended December 31, 2021 (Note 3)	Balance at December 31, 2021 (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 (Zhengzhou) Electronic Information Co., Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	69,451 $	60,770 $	60,770 $	4.35%	2	- $	Additional operating capital	- $	-	- $	16,524,170 $	41,310,424 $	Note 8
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	100,357	100,357	100,357	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	182,918	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Quanzhou Buynow Industry Co., Ltd.	Other receivables - related parties - current	Yes	9,723	9,723.00	9,723.00	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	Other receivables - related parties - current	Yes	122,625	122,625	122,625	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	157,568	157,568	157,568	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Yingkou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	114,985	114,985	114,985	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	52,306	35,811	35,811	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	60,162	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	34,292	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Buynow (Guangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	61,899	59,728	59,728	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	186,868	165,164	165,164	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424 $	Note 8
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Daqing Buynow Electronic Information Corporation	Other receivables - related parties - current	Yes	250,416	124,969	124,969	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8

Table 1 Page 5

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during the year ended December 31, 2021 (Note 3)	Balance at December 31, 2021 (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	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Quanzhou Buynow Industry Co., Ltd.	Other receivables - related parties - current	Yes	46,576 $	- $	- $	4.35%	2	- $	Additional operating capital	- $	-	- $	16,524,170 $	41,310,424 $	Note 8
9	Buynow (Changchun) Industry Co., Ltd.	Buynow (Guangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	47,704	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
9	Buynow (Changchun) Industry Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	193,162	193,162	193,162	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
9	Buynow (Changchun) Industry Co., Ltd.	Buynow (Chongqing) Industry Co., Ltd.	Other receivables - related parties - current	Yes	8,681	4,341	4,341	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
9	Buynow (Changchun) Industry Co., Ltd.	Daqing Buynow Electronic Information Corporation	Other receivables - related parties - current	Yes	17,363	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
9	Buynow (Changchun) Industry Co., Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	93,759	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
9	Buynow (Changchun) Industry Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	26,044	24,742	24,742	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
9	Buynow (Changchun) Industry Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	36,896	17,363	17,363	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
9	Buynow (Changchun) Industry Co., Ltd.	Quanzhou Buynow Industry Co., Ltd.	Other receivables - related parties - current	Yes	37,287	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	89,766	76,744	76,744	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	183,395	148,669	148,669	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	108,518	-	-	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
11	Quality Trust Property Management Co., Ltd.	Daqing Buynow Electronic Information Corporation	Other receivables - related parties - current	Yes	218,555	218,555	218,555	3.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8

Table 1 Page 6

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during the year ended December 31, 2021 (Note 3)	Balance at December 31, 2021 (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
11	Quality Trust Property Management Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	35,811 $	- $	- $	3.00%	2	- $	Additional operating capital	- $	-	- $	16,524,170 $	41,310,424 $	Note 8
11	Quality Trust Property Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	8,681	5,209.00	5,209.00	3.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	Other receivables - related parties - current	Yes	63,374	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	229,190	217,904	217,904	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	230,275	230,275	230,275	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	29,734	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	Other receivables - related parties - current	Yes	151,925	65,111	65,111	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	13,022	13,022	13,022	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	131,558	106,382	106,382	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	150,623	21,704	21,704	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
13	Wuxi Quntai Property Management Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	26,478	26,478	26,478	3.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
14	Buynow (Chongqing) Industry Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	79,435	72,490	72,490	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
15	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	81,605	81,605	81,605	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8

Table 1 Page 7

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during the year ended December 31, 2021 (Note 3)	Balance at December 31, 2021 (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	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	6,511 $	- $	- $	5.00%	2	- $	Additional operating capital	- $	-	- $	16,524,170 $	41,310,424 $	Note 8
15	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	Other receivables - related parties - current	Yes	280,367	280,367	280,367	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
15	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	228,842	196,721	196,721	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
15	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	335,537	318,174	318,174	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
15	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Quanzhou Buynow Industry Co., Ltd.	Other receivables - related parties - current	Yes	4,688	-	-	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
15	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	240,562	205,837	205,837	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
15	Shanghai Buynow Electronic Products Market Management Co.,Ltd.	Shanghai Huizhuan Restaurant Management Co., Ltd.	Other receivables - related parties - current	Yes	31,253	31,253	31,253	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
16	Daqing Buynow Electronic Information Corporation	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	128,919	-	-	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
17	Tianjin Buynow Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	156,700	156,700	156,700	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
17	Tianjin Buynow Electronic Information Co., Ltd.	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Other receivables - related parties - current	Yes	13,673	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
17	Tianjin Buynow Electronic Information Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	70,320	61,638	61,638	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
17	Tianjin Buynow Electronic Information Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	Other receivables - related parties - current	Yes	252,890	252,890	252,890	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
17	Tianjin Buynow Electronic Information Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	142,132	129,110	129,110	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8

Table 1 Page 8

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during the year ended December 31, 2021 (Note 3)	Balance at December 31, 2021 (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	Tianjin Buynow Electronic Information Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	87,813 $	4,341 $	4,341 $	4.35%	2	- $	Additional operating capital	- $	-	- $	16,524,170 $	41,310,424 $	Note 8
17	Tianjin Buynow Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	95,452	95,452	95,452	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
17	Tianjin Buynow Electronic Information Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	102,875	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
18	Buynow (Yancheng) Electronoc Information Technology Development Co. Ltd.	Beijing Kaiye Electronic Technology Co., Ltd.	Other receivables - related parties - current	Yes	21,704	21,704	21,704	0.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
18	Buynow (Yancheng) Electronoc Information Technology Development Co. Ltd.	Daqing Buynow Electronic Information Corporation	Other receivables - related parties - current	Yes	30,385	30,385	30,385	0.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
18	Buynow (Yancheng) Electronoc Information Technology Development Co. Ltd.	Shantou Buynow Mall Co., Ltd.	Other receivables - related parties - current	Yes	483,338	266,303	266,303	0.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
18	Buynow (Yancheng) Electronoc Information Technology Development Co. Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	342,916	342,916	342,916	0.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
18	Buynow (Yancheng) Electronoc Information Technology Development Co. Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	24,525	24,525	24,525	0.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
19	Beijing Clevo Investment Management Consultant Co.,Ltd.	Buynow (Hangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	26,044	-	-	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
19	Beijing Clevo Investment Management Consultant Co.,Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	Other receivables - related parties - current	Yes	259,575	245,250	245,250	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
19	Beijing Clevo Investment Management Consultant Co.,Ltd.	Buynow Electronic Information (Huizhou) Co., Ltd	Other receivables - related parties - current	Yes	293,866	276,503	276,503	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
20	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow (Hangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	17,363	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
20	Guangdong Buynow Real Estate Management Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	374,560	350,686	350,686	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8

Table 1 Page 9

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during the year ended December 31, 2021 (Note 3)	Balance at December 31, 2021 (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
20	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	Other receivables - related parties - current	Yes	90,504 $	- $	- $	4.35%	2	- $	Additional operating capital	- $	-	- $	16,524,170 $	41,310,424 $	Note 8
20	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow(Guangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	107,606	72,881	72,881	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
20	Guangdong Buynow Real Estate Management Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	Other receivables - related parties - current	Yes	132,218	71,448	71,448	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
20	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	53,825	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
20	Guangdong Buynow Real Estate Management Co., Ltd.	Daqing Buynow Electronic Information Corporation	Other receivables - related parties - current	Yes	71,492	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
20	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow Electronic Information (Huizhou) Co., Ltd	Other receivables - related parties - current	Yes	19,056	19,056	19,056	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
20	Guangdong Buynow Real Estate Management Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	25,176	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
20	Guangdong Buynow Real Estate Management Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	258,706	233,530	233,530	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
20	Guangdong Buynow Real Estate Management Co., Ltd.	Suzhou Jinzuo Industry Co., Ltd.	Other receivables - related parties - current	Yes	269,819	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
20	Guangdong Buynow Real Estate Management Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	303,850	-	-	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
20	Guangdong Buynow Real Estate Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	243,731	243,731	243,731	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
20	Guangdong Buynow Real Estate Management Co., Ltd.	Quanzhou Buynow Industry Co., Ltd.	Other receivables - related parties - current	Yes	81,171	81,171	81,171	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
20	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	358,977	229,624	229,624	4.35%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8

Table 1 Page 10

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during the year ended December 31, 2021 (Note 3)	Balance at December 31, 2021 (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	Shantou Buynow Mall Co., Ltd.	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Other receivables - related parties - current	Yes	34,726 $	34,726 $	34,726 $	5.00%	2	- $	Additional operating capital	- $	-	- $	16,524,170 $	41,310,424 $	Note 8
21	Shantou Buynow Mall Co., Ltd.	Buynow Electronic Information (Huizhou) Co., Ltd	Other receivables - related parties - current	Yes	73,792	73,792	73,792	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
21	Shantou Buynow Mall Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	Other receivables - related parties - current	Yes	438,412	99,402	99,402	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
21	Shantou Buynow Mall Co., Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	197,502	81,171	81,171	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
21	Shantou Buynow Mall Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	452,129	452,129	452,129	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
21	Shantou Buynow Mall Co., Ltd.	Suzhou Jinzuo Industry Co., Ltd.	Other receivables - related parties - current	Yes	297,556	297,556	297,556	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
21	Shantou Buynow Mall Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	102,875	97,232	97,232	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
21	Shantou Buynow Mall Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	434,071	-	-	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
22	Clevo (China) Investment Co., Ltd.	Shanghai Buynow Online Information Technology Co., Ltd.	Other receivables - related parties - current	Yes	11,286	11,286	11,286	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
22	Clevo (China) Investment Co., Ltd.	Buynow Electronic Information (Huizhou) Co., Ltd	Other receivables - related parties - current	Yes	73,792	-	-	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
22	Clevo (China) Investment Co., Ltd.	Shanghai Huizhuan Restaurant Management Co., Ltd.	Other receivables - related parties - current	Yes	1,085	1,085	1,085	0.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
23	Dezhou Buynow Electronic Information Co., Ltd.	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Other receivables - related parties - current	Yes	60,770	60,770	60,770	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
23	Dezhou Buynow Electronic Information Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	26,044	-	-	5.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8

Table 1 Page 11

NO. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during the year ended December 31, 2021 (Note 3)	Balance at December 31, 2021 (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
23	Dezhou Buynow Electronic Information Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	Other receivables - related parties - current	Yes	173,629 $	- $	- $	5.00%	2	- $	Additional operating capital	- $	-	- $	16,524,170 $	41,310,424 $	Note 8
24	Kunshan Kaishuo Trading Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	110,601	110,601	110,601	4.50%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	Note 8
25	Shanghai Huihei Advertisment Co., Ltd.	Beijing Kaiye Electronic Technology Co., Ltd.	Other receivables - related parties - current	Yes	2,170	-	-	0.00%	2	-	Additional operating capital	-	-	-	16,524,170	41,310,424	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, 2021.

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 12

CLEVO CO. and Subsidiaries Provision of endorsements and guarantees to others Year ended December 31, 2021

Table 2

Expressed in thousands of NTD (Except as otherwise indicated)

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, 2021 （Note 4）	Outstanding endorsement/ guarantee amount at December 31, 2021 （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）
1	Changsha Hungyu Business Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	41,310,424 $	765,699 $	765,699 $	674,545 $	765,699 $	1.85	41,310,424 $	N	N	Y	-
2	Buynow (Hangzhou) Electronic Information Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	41,310,424	173,628	173,628	156,265	-	0.42	41,310,424	N	N	Y	-
2	Buynow (Hangzhou) Electronic Information Co., Ltd.	Buynow (Chongqing) Industry Co., Ltd.	3	41,310,424	342,915	342,915	325,553	-	0.83	41,310,424	N	N	Y	-
2	Buynow (Hangzhou) Electronic Information Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	3	41,310,424	130,221	130,221	12,501	130,221	0.32	41,310,424	N	N	Y	-
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	41,310,424	1,085,175	824,733	101,334	824,733	2.63	41,310,424	N	N	Y	-
4	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	3	41,310,424	1,562,652	1,562,652	1,367,321	1,562,652	3.78	41,310,424	N	N	Y	-
4	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	41,310,424	765,699	765,699	674,545	-	1.85	41,310,424	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, 2021 （Note 4）	Outstanding endorsement/ guarantee amount at December 31, 2021 （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）
5	Buynow Electronic Information (Shenyang) Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	41,310,424 $	1,085,175 $	1,085,175 $	922,399 $	- $	2.63	41,310,424 $	N	N	Y	-
6	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Quanzhou Buynow Industry Co., Ltd.	3	41,310,424	260,442	260,442.00	225,716.00	-	0.63	41,310,424	N	N	Y	-
7	Buynow (Xian) Industry Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	41,310,424	694,512	-	-	-	1.68	41,310,424	N	N	Y	-
8	Buynow Electronic Information (Huizhou) Co., Ltd	Guangdong Buynow Real Estate Management Co., Ltd.	3	41,310,424	781,326	-	-	-	1.89	41,310,424	N	N	Y	-
9	Zibo Buynow Electronic Information Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	41,310,424	199,672	199,672	199,672	199,672	0.48	41,310,424	N	N	Y	-
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	3	41,310,424	434,070	434,070	-	434,070	1.05	41,310,424	N	N	Y	-
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Buynow (Hangzhou) Electronic Information Co., Ltd.	3	41,310,424	130,221	-	-	-	0.32	41,310,424	N	N	Y	-
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Buynow (Zhengzhou) Electronic Information Co., Ltd.	3	41,310,424	130,221	-	-	-	0.32	41,310,424	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, 2021 （Note 4）	Outstanding endorsement/ guarantee amount at December 31, 2021 （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）
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Tianjin Buynow Electronic Information Co., Ltd.	3	41,310,424 $	52,088 $	- $	- $	- $	0.13	41,310,424 $	N	N	Y	-
11	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Kapok Computer (Kunshan) Co., Ltd.	3	41,310,424	844,327	844,327	647,068	844,327	2.04	41,310,424	N	N	Y	-
11	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	41,310,424	424,086	-	-	-	1.03	41,310,424	N	N	Y	-
12	Buynow (Chongqing) Industry Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	41,310,424	217,035	173,628	156,265	173,628	0.53	41,310,424	N	N	Y	-
13	Buynow (Changchun) Industry Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	41,310,424	303,849	303,849	224,414	303,849	0.74	41,310,424	N	N	Y	-
13	Buynow (Changchun) Industry Co., Ltd.	Buynow (Fujian) Electronic Technology Development Co., Ltd.	3	41,310,424	156,265	156,265	147,584	156,265	0.38	41,310,424	N	N	Y	-
14	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	41,310,424	416,707	416,707	416,707	416,707	1.01	41,310,424	N	N	Y	-
15	Guangdong Buynow Real Estate Management Co., Ltd.	The Company	3	41,310,424	1,300,000	-	-	-	3.15	41,310,424	N	Y	N	-

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, 2021 （Note 4）	Outstanding endorsement/ guarantee amount at December 31, 2021 （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）
15	Guangdong Buynow Real Estate Management Co., Ltd.	Kapok Computer (Kunshan) Co., Ltd.	3	41,310,424 $	2,075,625 $	2,075,625 $	- $	2,075,625 $	5.02	41,310,424 $	N	N	Y	-
16	Buynow (Harbin) Industry Co., Ltd.	Suzhou Jinzuo Industry Co., Ltd.	3	41,310,424	390,663	390,663	227,887	390,663	0.95	41,310,424	N	N	Y	-
17	Taizhou Buynow Electronic Information Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	41,310,424	520,884	-	-	-	1.26	41,310,424	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, 2021

Table 3

Securities held by	Marketable securities （Note 1）	Relationship with the securities issuer （Note 2）	General ledger account	As of December 31,2021	As of December 31,2021	As of December 31,2021	As of December 31,2021	Footnote （Note 4）
				Number of shares	Book value （Note 3）	Ownership	Fair value
	Stocks
The Company	TAIWAN BUSINESS BANK,LTD.	-	Current financial assets measured at fair value through profit or loss	8,226,325	81,441 $	0.11%	81,441 $	-
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	386,563	0.63%	386,563	-
The Company	AU Optronics Corp.	-	Current financial assets measured at fair value through profit or loss	2,244,989	51,410	0.02%	51,410	-
The Company	INNOLUX CORPORATION	-	Current financial assets measured at fair value through profit or loss	51,219	1,004	0.00%	1,004	-
The Company	Zhen Ding Technology Holding Limited	-	Current financial assets measured at fair value through profit or loss	380,000	38,190	0.05%	38,190	-
The Company	BOE TECHNOLOGY GROUP CO., LTD	-	Current financial assets measured at fair value through profit or loss	200,000	4,384	0.00%	4,384	-
The Company	TRIPOD TECHNOLOGY CORPORATION	-	Current financial assets measured at fair value through profit or loss	120,000	14,940	0.02%	14,940	-
The Company	Foxconn Industrial Internet Co.,ltd.	-	Current financial assets measured at fair value through profit or loss	1,760,000	91,064	0.01%	91,064	-
The Company	Sports Gear Co., Ltd.	-	Current financial assets measured at fair value through profit or loss	70,000	4,732	0.04%	4,732	-
The Company	CTBC Financial Holding Co., Ltd.	-	Current financial assets measured at fair value through profit or loss	2,000,000	51,900	0.01%	51,900	-
The Company	Taiwan Semiconductor Manufacturing Co., Ltd.	-	Current financial assets measured at fair value through profit or loss	86,000	52,890	0.00%	52,890	-
The Company	Unimicron Technology Corp.	-	Current financial assets measured at fair value through profit or loss	99,000	22,869	0.01%	22,869	-
The Company	Winbond Electronics Corporation	-	Current financial assets measured at fair value through profit or loss	130,000	4,420	0.00%	4,420	-
The Company	ENNOCONN CORPORATION	-	Current financial assets measured at fair value through profit or loss	61,000	14,427	0.06%	14,427	-
The Company	eMemory Technology Inc.	-	Current financial assets measured at fair value through profit or loss	10,000	21,900	0.01%	21,900	-
The Company	FORMOSA SUMCO TECHNOLOGY CORPORATION	-	Current financial assets measured at fair value through profit or loss	19,000	5,510	0.00%	5,510	-

Table 3 Page 1

Securities held by	Marketable securities （Note 1）	Relationship with the securities issuer （Note 2）	General ledger account	As of December 31,2021	As of December 31,2021	As of December 31,2021	As of December 31,2021	Footnote （Note 4）
				Number of shares	Book value （Note 3）	Ownership	Fair value
The Company	WAFER WORKS CORPORATION	-	Current financial assets measured at fair value through profit or loss	301,000	25,736 $	0.06%	25,736 $	-
The Company	WAN HAI LINES LTD.	-	Current financial assets measured at fair value through profit or loss	41,000	8,139	0.00%	8,139	-
The Company	UNITED MICROELECTRONICS CORP.	-	Current financial assets measured at fair value through profit or loss	365,000	23,725	0.00%	23,725	-
The Company	E INK HOLDINGS INC.	-	Current financial assets measured at fair value through profit or loss	157,000	23,707	0.01%	23,707	-
The Company	Fitipower Integrated Technology Inc.	-	Current financial assets measured at fair value through profit or loss	53,000	14,946	0.03%	14,946	-
The Company	Anpec Electronics Corporation	-	Current financial assets measured at fair value through profit or loss	20,000	5,570	0.03%	5,570	-
The Company	AURAS Technology Co.,Ltd.	-	Current financial assets measured at fair value through profit or loss	13,000	2,626	0.01%	2,626	-
The Company	CHUNG HUNG STEEL CORPORATION	-	Current financial assets measured at fair value through profit or loss	137,000	5,638	0.01%	5,638	-
The Company	TSRC CORPORATION	-	Current financial assets measured at fair value through profit or loss	74,000	2,990	0.01%	2,990	-
The Company	EPISIL TECHNOLOGIES INC.	-	Current financial assets measured at fair value through profit or loss	19,000	2,717	0.01%	2,717	-
The Company	MediaTek Inc.	-	Current financial assets measured at fair value through profit or loss	5,000	5,950	0.00%	5,950	-
The Company	ALLTOP TECHNOLOGY CO., LTD.	-	Current financial assets measured at fair value through profit or loss	78,000	14,391	0.13%	14,391	-
The Company	SHENMAO TECHNOLOGY INC.	-	Current financial assets measured at fair value through profit or loss	37,000	3,001	0.03%	3,001	-
The Company	GENESYS LOGIC, INC.	-	Current financial assets measured at fair value through profit or loss	13,000	2,620	0.01%	2,620	-
The Company	Phison Electronics Corp.	-	Current financial assets measured at fair value through profit or loss	5,000	2,560	0.00%	2,560	-
The Company	Sino-American Silicon Products Inc.	-	Current financial assets measured at fair value through profit or loss	86,000	20,296	0.01%	20,296	-
The Company	GOLD CIRCUIT ELECTRONICS LTD	-	Current financial assets measured at fair value through profit or loss	127,000	9,652	0.02%	9,652	-
The Company	Elite Semiconductor Microelectronics Tech Inc	-	Current financial assets measured at fair value through profit or loss	16,000	2,640	0.01%	2,640	-
The Company	ASE Technology Holding Co., Ltd.	-	Current financial assets measured at fair value through profit or loss	120,000	12,780	0.00%	12,780	-
The Company	NAN YA PRINTED CIRCUIT BOARD CORPORATION	-	Current financial assets measured at fair value through profit or loss	14,000	8,008	0.00%	8,008	-
The Company	KINSUS INTERCONNECT TECHNOLOGY CORP.	-	Current financial assets measured at fair value through profit or loss	11,000	2,563	0.00%	2,563	-
The Company	GlobalWafers Co., Ltd	-	Current financial assets measured at fair value through profit or loss	20,000	17,760	0.00%	17,760	-
The Company	CO-TECH DEVELOPMENT CORP.	-	Current financial assets measured at fair value through profit or loss	34,000	2,621	0.01%	2,621	-
The Company	SDI CORPORATION	-	Current financial assets measured at fair value through profit or loss	34,000	5,967	0.02%	5,967	-

Table 3 Page 2

Securities held by	Marketable securities （Note 1）	Relationship with the securities issuer （Note 2）	General ledger account	As of December 31,2021	As of December 31,2021	As of December 31,2021	As of December 31,2021	Footnote （Note 4）
				Number of shares	Book value （Note 3）	Ownership	Fair value
The Company	Vanguard International Semiconductor Co.	-	Current financial assets measured at fair value through profit or loss	35,000	5,530 $	0.00%	5,530 $	-
The Company	TAIWAN MASK CORP.	-	Current financial assets measured at fair value through profit or loss	53,000	5,724	0.02%	5,724	-
The Company	TONG HSING ELECTRONIC INDUSTRIES ,LTD.	-	Current financial assets measured at fair value through profit or loss	9,000	2,678	0.01%	2,678	-
	Beneficiary certificate
The Company	Greater China Multi-Strategy Fund	-	Current financial assets measured at fair value through profit or loss	78,788	324,859	-	324,859	-
The Company	BNP Paribas Funds-Energy Transition Classique USD Capitalisation	-	Current financial assets measured at fair value through profit or loss	5,248	23,220	-	23,220	-
The Company	Invesco 3 to 6 Year Maturity Emerging Market Bond Fund Acc	-	Current financial assets measured at fair value through profit or loss	1,500,000	14,614	-	14,614	-
The Company	Cathay Global Autonomous and Electric Vehicles ETF	-	Current financial assets measured at fair value through profit or loss	3,000,000	50,220	-	50,220	-
The Company	President ICE FactSet Asia Semiconductor Net Total Return Index ETN	-	Current financial assets measured at fair value through profit or loss	5,000,000	44,950	-	44,950	-
	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	3,363	0.01%	3,363	-
Kapok Computer Co., Ltd.	CLEVO CO.	The Company	Non-current financial assets measured at fair value through other comprehensive income	16,966,596	559,898	2.61%	559,898	-
	Beneficiary certificate
Kapok Computer Co., Ltd.	Reliance TAROBO Robotics Quantitative Chinese Fund	-	Current financial assets measured at fair value through profit or loss	2,237,387	40,954	-	40,954	-
	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	13,339	0.02%	13,339	-
Clevo Investment Co., Ltd.	CLEVO CO.	The Company	Non-current financial assets measured at fair value through other comprehensive income	10,080,669	332,662	1.55%	332,662	-
	Beneficiary certificate
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	15,840	-	15,840	-
Clevo Investment Co., Ltd.	Reliance TAROBO Robotics Quantitative Chinese Fund	-	Current financial assets measured at fair value through profit or loss	1,491,591	27,303	-	27,303	-
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	UG Hidden Dragon Special Opportunity Fund	-	Current financial assets measured at fair value through profit or loss	266,378	586,150	-	586,150	-
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	Greater China Multi-Strategy Fund	-	Current financial assets measured at fair value through profit or loss	403,145	294,359	-	294,359	-

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 3

CLEVO CO. and Subsidiaries Acquisition of real estate reaching NT$300 million or 20% of paid-in capital or more Year ended December 31, 2021

Expressed in thousands of NTD (Except as otherwise indicated)

Table 4

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 2021	1,470,969 $	907,195 $	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 2021	746,779	723,428	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 2021	3,075,639	2,915,239	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 2021	1,450,932	1,392,995	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 2021	1,747,129	1,729,136	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, 2021

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
CLEVO CO.	Property, plant and equipment and investment property	November 29, 2021	February 19, 1997	2,542,023 $	4,100,000 $	$ 4,100,000	1,303,457 $	TransGlobe Life Insurance Inc.	None	Active assets	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 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, 2021

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	16,112,238 $	58.03%	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	7,685,603) (	25.18%	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.	1,864,640	36.48%	-
Kapok Computer (Kunshan) Co., Ltd.	The Company	The Company as the ultimate parent company	Sales	16,112,238) (	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	7,685,603	48.38%	180 days	It is the only supplier, so the price cannot be compared.	-	1,864,640) (	44.27%	-

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, 2021

Year ended December 31, 2021	Year ended December 31, 2021	Year ended December 31, 2021	Year ended December 31, 2021	Year ended December 31, 2021
Table 7					Expressed in thousands of NTD (Except as otherwiseindicated)
Creditor	Counterparty	Relationship with the counterparty	Balance as at December 31, 2021 （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.	1,864,640 $	4.65	- $	Reclassified to other receivables - relatedparties - 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, 2021

Expressed in thousands of NTD (Except as otherwise indicated)

Table 8

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	16,112,238 $	The selling price is reduced by 5%~15%. However, it can be adjusted according to market conditions. The payment period is 30 days after monthly billings.	59.69%
0	The Company	Kapok Computer (Kunshan) Co., Ltd.	1	Sales	7,685,603	It is the only customer, so the price cannot be compared. The payment period is 180 days.	28.47%
0	The Company	Kapok Computer (Kunshan) Co., Ltd.	1	Accounts receivable - related parties	1,864,640	-	2.04%
1	Buynow (Hangzhou) Electronic Information Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	3	Other receivables - related parties - current	103,526	5.00%	0.11%
1	Buynow (Hangzhou) Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	254,930	5.00%	0.28%
1	Buynow (Hangzhou) Electronic Information Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	169,071	5.00%	0.19%
1	Buynow (Hangzhou) Electronic Information Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	138,035	5.00%	0.15%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	404,989	4.35%	0.44%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	104,828	4.35%	0.11%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Buynow Electronic Information (Huizhou) Co., Ltd	3	Other receivables - related parties - current	130,569	4.35%	0.14%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Clevo (China) Investment Co., Ltd.	3	Other receivables - related parties - current	108,518	4.35%	0.12%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	318,825	4.35%	0.35%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Buynow (Fujian) Electronic Technology Development Co., Ltd.	3	Receivables - related parties	59,966	-	0.07%

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.	Shanghai Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	61,575 $	-	0.07%
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	Other receivables - related parties - current	370,480	4.35%	0.41%
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties - current	162,560	4.35%	0.18%
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Receivables - related parties	61,694	-	0.07%
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	3	Other receivables - related parties - current	320,996	4.50%	0.35%
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Guangzhou) Electronic Information Co., Ltd.	3	Other receivables - related parties - current	170,590	4.50%	0.19%
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	Other receivables - related parties - current	170,677	4.50%	0.19%
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties - current	644,900	4.50%	0.71%
4	Kapok Computer (Kunshan) Co., Ltd.	Daqing Buynow Electronic Information Corporation	3	Other receivables - related parties - current	97,232	4.50%	0.11%
4	Kapok Computer (Kunshan) Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	88,551	4.50%	0.10%
4	Kapok Computer (Kunshan) Co., Ltd.	Shantou Buynow Mall Co., Ltd.	3	Other receivables - related parties - current	495,362	4.50%	0.54%
4	Kapok Computer (Kunshan) Co., Ltd.	Clevo (China) Investment Co., Ltd.	3	Other receivables - related parties - current	173,629	4.50%	0.19%
4	Kapok Computer (Kunshan) Co., Ltd.	Yingkou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	82,474	4.50%	0.09%
4	Kapok Computer (Kunshan) Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	431,901	4.50%	0.47%
4	Kapok Computer (Kunshan) Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	193,596	4.50%	0.21%
4	Kapok Computer (Kunshan) Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	549,968	4.50%	0.60%
4	Kapok Computer (Kunshan) Co., Ltd.	Kunshan Kaishuo Trading Co., Ltd.	3	Other receivables - related parties - current	173,629	4.50%	0.19%
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	Other receivables - related parties - current	260,443	4.50%	0.29%

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.	Buynow (Hangzhou) Electronic Information Co., Ltd.	3	Other receivables - related parties - current	59,468 $	5.00%	0.07%
5	Buynow (Nanchang) Industry Co., Ltd.	Buynow(Guangzhou) Electronic Information Co., Ltd.	3	Other receivables - related parties - current	63,591	5.00%	0.07%
5	Buynow (Nanchang) Industry Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	198,067	5.00%	0.22%
5	Buynow (Nanchang) Industry Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	62,159	5.00%	0.07%
5	Buynow (Nanchang) Industry Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	74,226	5.00%	0.08%
5	Buynow (Nanchang) Industry Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	Other receivables - related parties - current	93,412	5.00%	0.10%
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	3	Other receivables - related parties - current	90,157	4.35%	0.10%
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties - current	80,911	4.35%	0.09%
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Clevo (China) Investment Co., Ltd.	3	Other receivables - related parties - current	60,770	4.35%	0.07%
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	100,357	4.35%	0.11%
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	3	Other receivables - related parties - current	122,625	4.35%	0.13%
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	157,568	4.35%	0.17%
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Yingkou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	114,985	4.35%	0.13%
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Yingkou Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	81,404	-	0.09%
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Buynow (Guangzhou) Electronic Information Co., Ltd.	3	Other receivables - related parties - current	59,728	4.35%	0.07%
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties - current	165,164	4.35%	0.18%
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Daqing Buynow Electronic Information Corporation	3	Other receivables - related parties - current	124,969	4.35%	0.14%
9	Buynow (Changchun) Industry Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	Other receivables - related parties - current	193,162	4.35%	0.21%

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)
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties - current	76,744 $	5.00%	0.08%
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	148,669	5.00%	0.16%
11	Quality Trust Property Management Co., Ltd.	Daqing Buynow Electronic Information Corporation	3	Other receivables - related parties - current	218,555	3.00%	0.24%
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	Other receivables - related parties - current	217,904	4.35%	0.24%
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties - current	230,275	4.35%	0.25%
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	3	Other receivables - related parties - current	65,111	4.35%	0.07%
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	106,382	4.35%	0.12%
13	Buynow (Chongqing) Industry Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	72,490	5.00%	0.08%
13	Buynow (Chongqing) Industry Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	63,715	-	0.07%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	81,605	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	280,367	5.00%	0.31%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	196,721	5.00%	0.22%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	318,174	5.00%	0.35%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	Other receivables - related parties - current	205,837	5.00%	0.23%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	Receivables - related parties	97,165	-	0.11%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	68,110	-	0.07%
15	Tianjin Buynow Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	156,700	4.35%	0.17%
15	Tianjin Buynow Electronic Information Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	Other receivables - related parties - current	61,638	4.35%	0.07%

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)
15	Tianjin Buynow Electronic Information Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	Other receivables - related parties - current	252,890 $	4.35%	0.28%
15	Tianjin Buynow Electronic Information Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	129,110	4.35%	0.14%
15	Tianjin Buynow Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	95,452	4.35%	0.10%
15	Tianjin Buynow Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	62,180	-	0.07%
16	Buynow (Yancheng) Electronoc Information Technology Development Co. Ltd.	Shantou Buynow Mall Co., Ltd.	3	Other receivables - related parties - current	266,303	0.00%	0.29%
16	Buynow (Yancheng) Electronoc Information Technology Development Co. Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	342,916	0.00%	0.38%
17	Beijing Clevo Investment Management Consultant Co.,Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	Other receivables - related parties - current	245,250	5.00%	0.27%
17	Beijing Clevo Investment Management Consultant Co.,Ltd.	Buynow Electronic Information (Huizhou) Co., Ltd	3	Other receivables - related parties - current	276,503	5.00%	0.30%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	350,686	4.35%	0.38%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow (Guangzhou) Electronic Information Co., Ltd.	3	Other receivables - related parties - current	72,881	4.35%	0.08%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	Other receivables - related parties - current	71,448	4.35%	0.08%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	233,530	4.35%	0.26%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	243,731	4.35%	0.27%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Quanzhou Buynow Industry Co., Ltd.	3	Other receivables - related parties - current	81,171	4.35%	0.09%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	Other receivables - related parties - current	229,624	4.35%	0.25%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	137,421	-	0.15%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	58,461	-	0.06%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	80,620	-	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)
19	Shantou Buynow Mall Co., Ltd.	Buynow Electronic Information (Huizhou) Co., Ltd	3	Other receivables - related parties - current	73,792 $	5.00%	0.08%
19	Shantou Buynow Mall Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	3	Other receivables - related parties - current	99,402	5.00%	0.11%
19	Shantou Buynow Mall Co., Ltd.	Clevo (China) Investment Co., Ltd.	3	Other receivables - related parties - current	81,171	5.00%	0.09%
19	Shantou Buynow Mall Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	452,129	5.00%	0.50%
19	Shantou Buynow Mall Co., Ltd.	Suzhou Jinzuo Industry Co., Ltd.	3	Other receivables - related parties - current	297,556	5.00%	0.33%
19	Shantou Buynow Mall Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	97,232	5.00%	0.11%
20	Dezhou Buynow Electronic Information Co., Ltd.	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	3	Other receivables - related parties - current	60,770	5.00%	0.07%
21	Kunshan Kaishuo Trading Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties - current	110,601	4.50%	0.12%

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 subsidiaries refer 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 between two 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, 2021

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, 2021	Shares held as at December 31, 2021	Shares held as at December 31, 2021	Net profit (loss) of the investee for the year ended December 31, 2021 (Note 2 (2))	Investment income (loss) recognised by the Company for the year ended December 31, 2021 (Note 2 (3))	Footnote
				Balance at December 31, 2021	Balance at December 31, 2020	Number of shares	Ownership (%)	Book value
The Company	CLEVO COMPUTER SINGAPORE PTE LTD.	Singapore	Management and advisory of computers	420,061 $	420,061 $	22,325,453	100.00	7,469,230 $	5,140 $	5,140 $	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	42,703,456	750,648) (	750,648) (	The subsidiary of the Company
The Company	KAPOK COMPUTER (SAMOA) CORPORATION	Samoa	Investment	489,985	489,985	16,000,000	100.00	1,942,052	207,499	207,450	The subsidiary of the Company
The Company	BUYNOW ON-LINE HOLDING CORPORATION	Samoa	Investment	35,513	35,513	1,100,000	100.00	9,731) (	971) (	971) (	The subsidiary of the Company
The Company	Clevo Investment Co., Ltd.	Taiwan	Investment	140,000	140,000	14,000,000	100.00	74,781	12,398	6,349	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	58,100	14,211	4,031	The subsidiary of the Company
The Company	Taipei Twin Corporation	Taiwan	Commercial real estate development	1,000,000	1,000,000	1,000,000,000	50.00	967,296	39,682) (	19,841) (	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	3,435,731	44,468) (	44,468) (	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	945,762	5,830	5,830	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	3,460,018	104,093	104,093	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, 2021	Shares held as at December 31, 2021	Shares held as at December 31, 2021	Net profit (loss) of the investee for the year ended December 31, 2021 (Note 2 (2))	Investment income (loss) recognised by the Company for the year ended December 31, 2021 (Note 2 (3))	Footnote
				Balance at December 31, 2021	Balance at December 31, 2020	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	3,190,222 $	24,995 $	24,995 $	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	222,803	215	215	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	1,164,243	60,035	60,035	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	2,276,751	36,549) (	36,549) (	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	3,104,500	26,028	26,028	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	1,920,158	38,835	38,835	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	833,559	33,446	33,446	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	2,907,504	33,147	33,147	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	89,238	11,606) (	11,606) (	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	1,043,133	31,201) (	31,201) (	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	2,315,852	3,270) (	3,270) (	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, 2021	Shares held as at December 31, 2021	Shares held as at December 31, 2021	Net profit (loss) of the investee for the year ended December 31, 2021 (Note 2 (2))	Investment income (loss) recognised by the Company for the year ended December 31, 2021 (Note 2 (3))	Footnote
				Balance at December 31, 2021	Balance at December 31, 2020	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	1,294,011 $	43,317 $	43,317 $	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	283,590	181,851) (	181,851) (	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	121,778) (	110,469) (	110,469) (	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	150,438) (	72,850) (	72,850) (	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	1,875,173	121,091	121,091	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	5,083,342	564) (	564) (	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	735,443	-	-	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	100,813) (	13,070) (	13,070) (	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	412,324	400) (	400) (	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	915,957	141,656) (	141,656) (	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	258,504	945) (	945) (	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	1,512,495	410,332	123,100	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, 2021	Shares held as at December 31, 2021	Shares held as at December 31, 2021	Net profit (loss) of the investee for the year ended December 31, 2021 (Note 2 (2))	Investment income (loss) recognised by the Company for the year ended December 31, 2021 (Note 2 (3))	Footnote
				Balance at December 31, 2021	Balance at December 31, 2020	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	121,505 $	228,072 $	68,422 $	Investment accounted for under equity method
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (WUHAN) CORPORATION	Samoa	Investment	-	-	3,600,000	30.00	151,191	57,891) (	17,367) (	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	59,897	259,769	9,741	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	279,646	13,653) (	13,653) (	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	1,006,214	2,319	2,319	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	387,417	372,341) (	372,341) (	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	180,034	16,658) (	16,658) (	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	309,482	132,632) (	132,632) (	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	110,672	205,766) (	205,766) (	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	457,479	10,256) (	10,256) (	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	CLEVO (HK) INVESTMENT HOLDING LIMITED	Hong Kong	Investment	-	3,138	-	-	-	1,581	1,581	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, 2021	Shares held as at December 31, 2021	Shares held as at December 31, 2021	Net profit (loss) of the investee for the year ended December 31, 2021 (Note 2 (2))	Investment income (loss) recognised by the Company for the year ended December 31, 2021 (Note 2 (3))	Footnote
				Balance at December 31, 2021	Balance at December 31, 2020	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	5,083,342 $	564) ($	564) ($	The Company as the ultimate parent company
SMARTER CAPITAL LIMITED	BUYNOW SZ. CORPORATION	Samoa	Investment	452,081	452,081	14,900,000	100.00	1,006,214	2,319	2,319	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	9,731) (	971) (	971) (	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, 2021’ 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 the year ended December 31, 2021’ 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 the year ended December 31, 2021’ 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, 2021

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, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2021	Net income of investee for the year ended December 31, 2021	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the year ended December 31, 2021 （Note 2）	Book value of investments in Mainland China as of December 31, 2021	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2021	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 $	44,468) ($	100	44,468) ($	3,435,731 $	- $	-
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	7,653) (	100	7,653) (	1,952,359	-	-
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)	-	-	-	-	62,542	100	62,542	2,265,850	-	-
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	249,732	100	249,732	1,929,256	-	-
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)	-	-	-	-	1,224	100	1,224	3,847	-	-

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, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2021	Net income of investee for the year ended December 31, 2021	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the year ended December 31, 2021 （Note 2）	Book value of investments in Mainland China as of December 31, 2021	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2021	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 $	490,815 $	30	147,245 $	967,781 $	- $	-
Wuhan Qunbai Industry Co., Ltd.	Research, development and sales of computer software, hardware and electronic products; sales services; wenue retal	58,904	(2) CHICONY SQUARE (WUHAN)INC.	-	-	-	-	10,830	30	3,249	40,226	-	-
Chicony Square (Wuhan) Management Co., Ltd.	Sales of service and non-staple food; cafe operation; venue rental	14,414	(3)	-	-	-	-	6,184	24.99	1,545	32,068	-	-
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	4,053,756	(3)	-	-	-	-	376,651) (	30	112,995) (	427,511	-	-
Buynow (Hangzhou) Electronic Information Co., Ltd.	~~and retail~~ 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	104,093	100	104,093	3,460,018	-	-
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) (3)	56,778	-	-	56,778	10,782) (	100	10,782) (	3,129,856	-	-
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	15,636	100	15,636	254,947	-	-
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)	-	-	-	-	851	100	851	28,899	-	-

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, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2021	Net income of investee for the year ended December 31, 2021	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the year ended December 31, 2021 （Note 2）	Book value of investments in Mainland China as of December 31, 2021	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2021	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)	- $	- $	- $	- $	42,701 $	100	42,701 $	4,714,328 $	- $	-
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)	-	-	-	-	51,425	100	51,425	72,109) (	-	-
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	293,328	(2)	119,297	-	-	119,297	61,880	100	61,880	3,040,594	-	-
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	215	100	215	222,803	-	-
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	24,995	100	24,995	3,190,222	-	-
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	32,146) (	100	32,146) (	2,275,538	-	-

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, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2021	Net income of investee for the year ended December 31, 2021	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the year ended December 31, 2021 （Note 2）	Book value of investments in Mainland China as of December 31, 2021	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2021	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 $	33) ($	100	33) ($	2,303,995 $	- $	-
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)(3)	314,567	-	-	314,567	159,330	100	159,330	2,467,333	-	-
Buynow (Yancheng) Electronoc 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	-	100	-	735,442	-	-
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	33,446	100	33,446	833,559	-	-
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	38,835	100	38,835	1,920,158	-	-
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 INTERNATIONAL INC.	687,382	-	-	687,382	259,769	30	77,931	479,170	-	-
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	11,623	100	11,623	2,441,617	-	-
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)(3)	363,300	-	-	363,300	693) (	100	693) (	7,819,834	-	-

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, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2021	Net income of investee for the year ended December 31, 2021	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the year ended December 31, 2021 （Note 2）	Book value of investments in Mainland China as of December 31, 2021	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2021	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 $	34,804 $	100	34,804 $	3,052,818 $	- $	-
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) BUYNOW (WUHAN) CORPORATION	-	-	-	-	57,891) (	30	17,367) (	151,191	-	-
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)(3)	133,021	-	-	133,021	56,369) (	100	56,369) (	433,406	-	-
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	60,643	100	60,643	1,811,579	-	-
Wuxi Buynow Electronic Market Co., Ltd.	Leasing of facility, market management service, catering management, property management, parking lot management	2,454	(3)	-	-	-	-	20	100	20	2,379	-	-
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	181,800) (	100	181,800) (	280,160	-	-
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	31,201) (	100	31,201) (	1,043,132	-	-

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, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2021	Net income of investee for the year ended December 31, 2021	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the year ended December 31, 2021 （Note 2）	Book value of investments in Mainland China as of December 31, 2021	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2021	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 $	897) ($	100	897) ($	12,375) ($	- $	-
Daqing Buynow Electronic Information Corporation	Manufacturing, retail and wholesale of computers and computer peripherals, and electronic information shopping mall management	98,158	(2)	98,158	-	-	98,158	110,469) (	100	110,469) (	121,778) (	-	-
Buynow Electronic Information (Huizhou) Co., Ltd.	Manufacturing, sale, research and development and after-sales service of computers and computer peripherals; property management of buildings	120,115	(2)(3)	211,996	-	-	211,996	32,674) (	100	32,674) (	252,032) (	-	-
Shantou Buynow Mall Co., Ltd.	Investment in companies primarily engaged in research and development and advisory service	574,562	(2)	574,562	-	-	574,562	10,256) (	100	10,256) (	457,479	-	-
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	72,850) (	100	72,850) (	150,438) (	-	-

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, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2021	Net income of investee for the year ended December 31, 2021	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the year ended December 31, 2021 （Note 2）	Book value of investments in Mainland China as of December 31, 2021	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2021	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 $	400) ($	100	400) ($	412,323 $	- $	-
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	141,656) (	100	141,656) (	915,957	-	-
Clevo (China) Investment Co., Ltd.	Investment in companies primarily engaged in research and development and advisory service	897,135	(2)	897,135	-	-	897,135	141,941) (	100	141,941) (	2,611,832	-	-
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	945) (	100	945) (	258,504	-	-
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	13,653) (	100	13,653) (	279,644	-	-
Suzhou Jinzuo Industry Co., Ltd.	Business affairs and property management business	480,460	(2)	1,008,954	-	-	1,008,954	2,319	100	2,319	1,006,214	-	-
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	1,748,220	(2)	881,914	-	-	881,914	662,327) (	100	662,327) (	797,154	-	-
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	16,658) (	100	16,658) (	180,034	-	-

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, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2021	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2021	Net income of investee for the year ended December 31, 2021	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the year ended December 31, 2021 （Note 2）	Book value of investments in Mainland China as of December 31, 2021	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2021	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 $	132,632) ($	100	132,632) ($	309,482 $	- $	-
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	205,766) (	100	205,766) (	110,672	-	-
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	1,277) (	100	1,277) (	26,492	-	-
Shanghai Huihei Advertisment Co., Ltd.	Advertising design and marketing	4,850	(3)	-	-	-	-	1,119) (	100	1,119) (	4,527	-	-
Shanghai Huizhuan Restaurant Management Co., Ltd.	Catering business management	22,884	(3)	-	-	-	-	5,657) (	100	5,657) (	32,956) (	-	-

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 the year ended December 31, 2021 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
Company name		December 31,2021		(MOEA)	MOEA
CLEVO CO.	$	14,259,606	$	15,843,476	24,786,254 $
(USD	421,680 thousand of USD)		(USD 456,227 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. (41,310,424 x 60% = 24,786,254)

• Note 2: It has been liquidated as of December 31, 2021, and has been approved to invest US$4,120,000 by the Ministry of Economic Affairs.

• Note 3: As of December 31, 2021, 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.

Table 10 Page 9

CLEVO CO. and Subsidiaries Major shareholders information December 31, 2021

Table 11

Name of major shareholders	Shares	Shares
	Name of shares held	Ownership (%)
Kent Hsu Huatai Investment Co., Ltd. EPOQUE CORPORATION	46,701,335 37,326,144 33,567,888	7.19% 5.74% 5.17%

Table 11 Page 1