CLEVO CO. - Interim / Quarterly Report 2022

CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS AND

INDEPENDENT AUDITORS’ REVIEW REPORT MARCH 31, 2022 AND 2021

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’ REVIEW REPORT TRANSLATED FROM CHINESE

To the Board of Directors and Shareholders of Clevo Co.

PWCR22000018

Introduction

We have reviewed the accompanying consolidated balance sheets of Clevo Co. and subsidiaries (the “Group”) as at March 31, 2022 and 2021, and the related consolidated statements of comprehensive income, of changes in equity and of cash flows for the three-month periods then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies. Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, “Interim Financial Reporting” as endorsed by the Financial Supervisory Commission. Our responsibility is to express a conclusion on these consolidated financial statements based on our reviews.

Scope of Review

Except as explained in the following paragraph, we conducted our reviews in accordance with the Statement of Auditing Standards No. 65. “Review of Financial Information Performed by the Independent Auditor of the Entity” in the Republic of China. A review of consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Basis for Qualified Conclusion

As explained in Notes 4(3) and 6(5), the financial statements of certain insignificant consolidated subsidiaries and investments accounted for using equity method were not reviewed by independent auditors. Those statements reflect total assets of NT$13,725,100 thousand and NT$14,174,937 thousand, constituting 14% and 15% of the consolidated total assets, and total liabilities of NT$1,976,514 thousand and NT$1,945,299 thousand, both constituting 4% and 4% of the consolidated total liabilities as at March 31, 2022 and 2021, respectively, and total comprehensive income of NT$102,449 thousand and NT$100,315 thousand, constituting 4% and 15% of the consolidated total comprehensive income for the three-month periods then ended, respectively,.

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Qualified Conclusion

Except for the adjustments to the consolidated financial statements, if any, as might have been determined to be necessary had the financial statements of certain consolidated subsidiaries and investments accounted for using equity method been reviewed by independent auditors, that we might have become aware of had it not been for the situation described above, based on our reviews, nothing has come to our attention that causes us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of the Group as at March 31, 2022 and 2021, and of its consolidated financial performance and its consolidated cash flows for the three-month periods then ended in accordance with Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, “Interim Financial Reporting” as endorsed by the Financial Supervisory Commission.

Wu, Han-Chi

[Liang, Hua-Ling ]

For and on Behalf of PricewaterhouseCoopers, Taiwan May 11, 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

MARCH 31, 2022, DECEMBER 31, 2021 AND MARCH 31, 2021

(Expressed in thousands of New Taiwan dollars, except as otherwise indicated) (The balance sheets as of March 31, 2022 and 2021 are reviewed, not audited)

ASSETS	Notes	March 31, 2022 AMOUNT % `$` `2,743,919` `3` `3,060,992` `3` `4,071` `-` `3,712,664` `4` `284` `-` `5,215,840` `5` `1,670,895` `2` `16,408,665 17` `25,217` `-` `2,742,250` `3` `2,623,466` `3` `4,469,392` `5` `64,717,108 68` `16,831` `-` `385,193` `-` `3,512,656` `4` `78,492,113 83` `$` `94,900,778 100`	March 31, 2021	March 31, 2021
		AMOUNT `$` `2,743,919` `3,060,992` `4,071` `3,712,664` `284` `5,215,840` `1,670,895` `16,408,665` `25,217` `2,742,250` `2,623,466` `4,469,392` `64,717,108` `16,831` `385,193` `3,512,656` `78,492,113` `$` `94,900,778`	AMOUNT `$` `3,426,658` `2,005,785` `621,208` `2,655,965` `273` `5,026,937` `1,028,873` `14,765,699` `26,012` `3,499,764` `4,224,367` `4,353,039` `64,070,966` `25,206` `624,963` `3,139,561` `79,963,878` `$` `94,729,577`	%
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 Other current assets 11XX Total current assets Non-current assets 1535 Financial assets at amortised cost - non-current 1550 Investments accounted for using equity method, net 1600 Property, plant and equipment 1755 Right-of-use assets 1760 Investment property, net 1780 Intangible assets 1840 Deferred income tax assets 1990 Other non-current assets 15XX Total non-current assets 1XXX Total assets	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(28) 6(1)(11) and 8			`4` `2` `1` `3` `-` `5` `1`
				`16`
				`-` `4` `4` `4` `68` `-` `1` `3`
				`84`
				`100`

(Continued)

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CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

MARCH 31, 2022, DECEMBER 31, 2021 AND MARCH 31, 2021

(Expressed in thousands of New Taiwan dollars, except as otherwise indicated) (The balance sheets as of March 31, 2022 and 2021 are reviewed, not audited)

					March 31, 2022				December 31, 2021	December 31, 2021			March 31, 2021
	LIABILITIES AND EQUITY	Notes			AMOUNT	%			AMOUNT	%			AMOUNT	%
	Current liabilities
2100	Short-term borrowings	6(12)		`$`	`5,173,531`		`5`	`$`	`4,746,423`		`5`	`$`	`8,458,005`		`9`
2130	Contract liabilities, current	6(21)			`78,469`		`-`		`88,153`		`-`		`391,704`		`1`
2150	Notes payable				`4,807`		`-`		`10,124`		`-`		`7,330`		`-`
2170	Accounts payable				`2,344,111`		`3`		`2,393,963`		`3`		`2,120,242`		`2`
2180	Accounts payable - related	7
	parties				`380,149`		`-`		`347,988`		`-`		`328,544`		`-`
2200	Other payables				`2,559,563`		`3`		`1,364,019`		`2`		`1,610,866`		`2`
2230	Current income tax liabilities				`440,905`		`-`		`378,031`		`-`		`132,190`		`-`
2250	Provisions for liabilities -	6(16)
	current				`58,523`		`-`		`58,523`		`-`		`53,523`		`-`
2280	Lease liabilities	6(7) and 7			`121,540`		`-`		`62,634`		`-`		`16,274`		`-`
2320	Long-term liabilities, current	6(14)
	portion				`4,436,144`		`5`		`3,798,480`		`4`		`4,720,379`		`5`
2399	Other current liabilities				`443,172`		`1`		`512,461`		`1`		`444,189`		`1`
21XX	Total current liabilities				`16,040,914`	`17`			`13,760,799`	`15`			`18,283,246`	`20`
	Non-current liabilities
2530	Corporate bonds payable	6(13)			`5,000,000`		`5`		`5,000,000`		`6`		`5,000,000`		`5`
2540	Long-term borrowings	6(14)			`17,341,576`	`18`			`17,871,867`	`20`			`17,676,285`	`19`
2570	Deferred tax liabilities	6(28)			`12,487,412`	`13`			`12,002,907`	`13`			`12,365,202`	`13`
2580	Lease liabilities - non-current	6(7) and 7			`330,101`		`1`		`221,390`		`-`		`92,814`		`-`
2670	Other non-current liabilities	7			`1,146,884`		`1`		`1,126,740`		`1`		`1,139,737`		`1`
25XX	Total non-current
	liabilities				`36,305,973`	`38`			`36,222,904`	`40`			`36,274,038`	`38`
2XXX	Total liabilities				`52,346,887`	`55`			`49,983,703`	`55`			`54,557,284`	`58`
	Equity attributable to owners of
	parent
	Share capital	6(17)
3110	Ordinary share				`6,422,630`		`7`		`6,497,630`		`7`		`6,697,630`		`7`
	Capital surplus	6(18)
3200	Capital surplus				`57,480`		`-`		`73,478`		`-`		`95,864`		`-`
	Retained earnings	6(19)
3310	Legal reserve				`1,908,529`		`2`		`1,908,529`		`2`		`1,831,206`		`2`
3320	Special reserve				`35,684,459`	`38`			`35,684,459`	`39`			`36,717,272`	`39`
3350	Unappropriated retained
	earnings				`2,323,972`		`2`		`3,149,950`		`3`		`1,065,554`		`1`
	Other equity interest
3400	Other equity interest	6(20)	`(`		`2,693,911 )(`		`3) (`		`4,628,787) (`		`5)(`		`4,581,542) (`		`5)`
3500	Treasury shares	6(17)	`(`		`1,149,268 )(`		`1) (`		`1,374,835) (`		`1)(`		`1,653,691) (`		`2)`
31XX	Total equity attributable to
	owners of parent				`42,553,891`	`45`			`41,310,424`	`45`			`40,172,293`	`42`
3XXX	Total equity				`42,553,891`	`45`			`41,310,424`	`45`			`40,172,293`	`42`
	Significant contingent liabilities	9
	and unrecognised contract
	commitments
	Significant events after the	11
	balance sheet date
3X2X	TOTAL LIABILITIES AND
	EQUITY			`$`	`94,900,778`	`100`		`$`	`91,294,127`	`100`		`$`	`94,729,577`	`100`

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 THREE MONTHS ENDED MARCH 31, 2022 AND 2021

(Expressed in thousands of New Taiwan dollars, except for earnings per share amount) (REVIEWED, NOT AUDITED)

Items Three months ended March 31
2022
2021
Notes
AMOUNT
%
AMOUNT
%
6(21) and 7
$
6,404,009
100
$
5,603,929
100
6(4)(26)(27) and 7(
5,055,641) (
79) (
4,336,108) (
77)
1,348,368
21
1,267,821
23
6(26)(27)
(
279,625) (
4) (
284,728) (
5)
(
300,324) (
5) (
319,529) (
6)
(
154,076) (
3) (
136,759) (
2)
12(2)
(
12,086)
- (
247)
-
(
746,111) (
12) (
741,263) (
13)
602,257
9
526,558
10
6(22)
2,148
-
8,960
-
6(23)
55,669
1
32,730
-
6(24)
239,811
4 (
4,168)
-
6(25) and 7
(
152,122) (
2) (
162,977) (
3)
6(5)
31,291
-
34,216
1
176,797
3 (
91,239) (
2)
779,054
12
435,319
8
6(28)
(
185,591) (
3) (
115,275) (
2)
$
593,463
9
$
320,044
6
6(20)
$
1,882,859
29
$
330,558
6
6(20)
65,021
1
19,889
-
6(20)(28)
(
13,004)
- (
3,978)
-
1,934,876
30
346,469
6
$
1,934,876
30
$
346,469
6
$
2,528,339
39
$
666,513
12
$
593,463
9
$
320,044
6
$
2,528,339
39
$
666,513
12
6(29)
$
1.01
$
0.54
$
1.00
$
0.53

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 (loss) before income tax
7950
Income tax expense
8200
Profit (loss) for the period
Other comprehensive income
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 of associates and joint
ventures accounted for under equity
method
8399
Income tax relating to the
components of other comprehensive
income
8360
Other comprehensive income that
will be reclassified to profit or loss
8300
Total other comprehensive income
for the period
8500
Total comprehensive income for the
period
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

Items	Three months ended March 31 2022 2021 Notes AMOUNT % AMOUNT % 6(21) and 7 `$` `6,404,009` `100` `$` `5,603,929` `100` 6(4)(26)(27) and 7`(` `5,055,641) (` `79) (` `4,336,108) (` `77)` `1,348,368` `21` `1,267,821` `23` 6(26)(27) `(` `279,625) (` `4) (` `284,728) (` `5)` `(` `300,324) (` `5) (` `319,529) (` `6)` `(` `154,076) (` `3) (` `136,759) (` `2)` 12(2) `(` `12,086)` `- (` `247)` `-` `(` `746,111) (` `12) (` `741,263) (` `13)` `602,257` `9` `526,558` `10` 6(22) `2,148` `-` `8,960` `-` 6(23) `55,669` `1` `32,730` `-` 6(24) `239,811` `4 (` `4,168)` `-` 6(25) and 7 `(` `152,122) (` `2) (` `162,977) (` `3)` 6(5) `31,291` `-` `34,216` `1` `176,797` `3 (` `91,239) (` `2)` `779,054` `12` `435,319` `8` 6(28) `(` `185,591) (` `3) (` `115,275) (` `2)` `$` `593,463` `9` `$` `320,044` `6` 6(20) `$` `1,882,859` `29` `$` `330,558` `6` 6(20) `65,021` `1` `19,889` `-` 6(20)(28) `(` `13,004)` `- (` `3,978)` `-` `1,934,876` `30` `346,469` `6` `$` `1,934,876` `30` `$` `346,469` `6` `$` `2,528,339` `39` `$` `666,513` `12` `$` `593,463` `9` `$` `320,044` `6` `$` `2,528,339` `39` `$` `666,513` `12` 6(29) `$` `1.01` `$` `0.54` `$` `1.00` `$` `0.53`
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 (loss) before income tax 7950 Income tax expense 8200 Profit (loss) for the period Other comprehensive income 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 of associates and joint ventures accounted for under equity method 8399 Income tax relating to the components of other comprehensive income 8360 Other comprehensive income that will be reclassified to profit or loss 8300 Total other comprehensive income for the period 8500 Total comprehensive income for the period 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

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 THREE MONTHS ENDED MARCH 31, 2022 AND 2021

(Expressed in thousands of New Taiwan dollars)

(REVIEWED, NOT AUDITED)

Notes						Equityattributable to	Equityattributable to	wners of theparent	wners of theparent
		Ordinaryshare			Capital Reserves			Retained Earnings			Other Equity Interest		Treasuryshares
			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(20) 6(19) 6(20) 6(19) 6(17)	`$ 6,697,630` `-` `-` `-` `-` `$ 6,697,630` `$ 6,497,630` `-` `-` `-` `-` `(` `75,000` `)` `-` `$ 6,422,630`		`$` `57,998` `-` `-` `-` `-` `$` `57,998` `$` `56,267` `-` `-` `-` `-` `(` `650 )` `-` `$` `55,617`	`$` `37,866` `-` `-` `-` `-` `$` `37,866` `$` `16,228` `-` `-` `-` `-` `(` `16,228` `)` `-` `$` `-`		`$` `-` `-` `-` `-` `-` `$` `-` `$` `983` `-` `-` `-` `-` `-` `880` `$` `1,863`	`$ 1,831,206` `-` `-` `-` `-` `$ 1,831,206` `$ 1,908,529` `-` `-` `-` `-` `-` `-` `$ 1,908,529`	`$ 36,717,272` `-` `-` `-` `-` `$ 36,717,272` `$ 35,684,459` `-` `-` `-` `-` `-` `-` `$ 35,684,459`	`$ 1,118,868` `320,044` `-` `320,044` `(` `373,358 )` `$ 1,065,554` `$ 3,149,950` `593,463` `-` `593,463` `(` `1,285,752 )` `(` `133,689 )` `-` `$ 2,323,972`		`($ 4,948,933` `)` `-` `346,469` `346,469` `-` `($ 4,602,464` `)` `($ 4,628,787` `)` `-` `1,934,876` `1,934,876` `-` `-` `-` `($ 2,693,911` `)`	`$` `20,922` `-` `-` `-` `-` `$` `20,922` `$` `-` `-` `-` `-` `-` `-` `-` `$` `-`	`($ 1,653,691 )` `-` `-` `-` `-` `($ 1,653,691 )` `($ 1,374,835 )` `-` `-` `-` `-` `225,567` `-` `($ 1,149,268 )`	`$ 39,879,138` `320,044` `346,469` `666,513` `(` `373,358` `)` `$ 40,172,293` `$ 41,310,424` `593,463` `1,934,876` `2,528,339` `(` `1,285,752` `)` `-` `880` `$ 42,553,891`

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

THREE MONTHS ENDED MARCH 31, 2022 AND 2021

(Expressed in thousands of New Taiwan dollars)

(REVIEWED, NOT AUDITED)

CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax
Adjustments
Adjustments to reconcile profit (loss)
Depreciation

Amortisation

Expected credit loss

Net loss (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

Loss 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

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
Other current liabilities
Other non-current liabilities
Cash outflow generated from operations
Interest received
Dividends received
Interest paid
Income taxes paid
Net cash flows used in operating activities Three months ended March 31
Notes
2022
2021
$
779,054 $
435,319
6(6)(7)(26)
61,249
63,328
6(10)(26)
2,062
2,757
12(2)
12,086
247
6(2)(24)
3,273 (
88,054 )
6(25)
152,122
162,977
6(22)
(
2,148 ) (
8,960 )
6(23)
(
1,442 )
-
6(5)
(
31,291 ) (
34,216 )
6(24)
1,114
90
6(24)
-
2,882
6(24)
25,508
4,850
6(9)(24)
13,866
-
(
548,981 ) (
321,746 )
(
299,731 ) (
407,337 )
(
548,068 ) (
656,258 )
6(4)
(
8,595 ) (
5,397 )
(
253,307 ) (
28,580 )
9,465
240,778
(
5,317 ) (
4,764 )
(
49,852 )
264,787
32,161
86,370
(
68,588 )
15,507
(
69,289 ) (
31,967 )
3,076 (
1,662 )
(
791,573 ) (
309,049 )
1,999
9,872
770
-
(
138,291 ) (
157,625 )
(
78,753 ) (
111,326 )
(
1,005,848 ) (
568,128 )

(Continued)

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CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

THREE MONTHS ENDED MARCH 31, 2022 AND 2021

(Expressed in thousands of New Taiwan dollars)

(REVIEWED, NOT AUDITED)

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 investment properties

Interest paid (capitalisation of interest)

(Increase) decrease in financial assets at amortised
cost - current
Increase in financial assets at amortised cost - non-
current
Increase in other non-current assets
Increase in restricted bank deposits - current
Decrease (increase) in restricted bank deposits -
non-current
Net cash flows used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from short-term borrowings
Repayments of short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Decrease in guarantee deposit
Payments of lease liabilities

Net cash flows from (used in) financing
activities
Changes in exchange rates
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period Three months ended March 31
Notes
2022
2021
6(30)
($
65,648 ) ($
34,953 )
1,492
660
359
67
6(30)
(
34,506 ) (
85,147 )
6(9)
(
27,031 ) (
38,982 )
(
159 )
136,392
(
899 ) (
176 )
(
137,033 ) (
99,470 )
(
33,359 ) (
3,051 )
1,877 (
1,662 )
(
294,907 ) (
126,322 )
12,076,131
15,019,653
(
11,687,384 ) (
13,462,045 )
9,057,100
7,483,215
(
9,320,930 ) (
9,859,238 )
(
19,788 ) (
39,178 )
6(31)
(
14,023 ) (
3,968 )
91,106 (
861,561 )
137,527
64,618
(
1,072,122 ) (
1,491,393 )
3,816,041
4,918,051
$
2,743,919 $
3,426,658

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

~9~

CLEVO CO. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

THREE MONTHS ENDED MARCH 31, 2022 AND 2021

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

(Reviewed, not audited)

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 May 11, 2022.

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 2022 are as 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.

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

None.

~10~

(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:

==> picture [470 x 48] intentionally omitted <==

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

Effective date by
International Accounting
New Standards, Interpretations and Amendments Standards Board
----- End of picture text -----

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

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” and the International Accounting Standard 34, ‘Interim financial reporting’ as endorsed by the FSC.

(2) Basis of preparation

A. Except for the following items, the consolidated financial statements have been prepared under the historical cost convention:
(a) Financial (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 International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations as endorsed by the FSC (collectively referred herein as the “IFRSs”) requires the use of certain

~11~

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.
- (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.

~12~

B. Subsidiaries included in the consolidated financial statements:

Investor	Name of subsidiaries	Main business activities	March 31, 2022 December 31,2021 March 31, 2021 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 Ownership (%)	March 31, 2022 December 31,2021 March 31, 2021 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 Ownership (%)	Description (Note 1) (Note 1) (Note 1) (Note 1)
			March 31, 2022	December 31,2021
The Company The Company The Company The Company The Company The Company CLEVO (CAYMAN ISLANDS) HOLDING COMPANY CLEVO (CAYMAN ISLANDS) HOLDING COMPANY CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	CLEVO COMPUTER SINGAPORE PTE LTD. CLEVO (CAYMAN ISLANDS) HOLDING COMPANY KAPOK COMPUTER (SAMOA) CORPORATION Kapok Computer Co., Ltd. Clevo Investment Co., Ltd. BUYNOW ON- LINE HOLDING CORPORATION BUYNOW GLOBAL CORPORATION BUYNOW (HANGZHOU) CORPORATION BUYNOW (ZHENGZHOU) CORPORATION	Management and advisory of computers Investment Investment Design and sale of computers and computer peripherals Investment Investment Investment Investment Investment	100 100 100 100 100 100 100 100 100	100 100 100 100 100 100 100 100 100

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

Ownership (%)
Name of Main business March 31, December March 31,
Investor subsidiaries activities 2022 31, 2021 2021 Description
----- End of picture text -----

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021 Description
CLEVO	BUYNOW	Investment	100	100	110
(CAYMAN	GROUP
ISLANDS)	(CHANGSHA)
HOLDING	CORPORATION
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(NANCHANG)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(GUANGZHOU)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	FLYING WOLF	Investment	100	100	100
(CAYMAN	INVESTMENT
ISLANDS)	LIMITED
HOLDING
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(XIAMEN)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	GROUP (XIAN)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(CHANGCHUN)
ISLANDS)	CORPORATION
HOLDING
COMPANY

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==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021 Description
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	GROUP
ISLANDS)	(QINGDAO)
HOLDING	CORPORATION
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(WUXI)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(HARBIN)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	FLYING	Investment	100	100	100
(CAYMAN	INTERNATION
ISLANDS)	AL
HOLDING	INVESTMENT
COMPANY	LIMITED
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(CHONGQING)
ISLANDS)	LIMITED
HOLDING
COMPANY

~15~

==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021 Description
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(DAQING)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(ZIBO)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(BEIJING)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(YANCHENG)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	SKILL	Investment	100	100	100
(CAYMAN	DEVELOP
ISLANDS)	INTERNATION
HOLDING	AL
COMPANY	LIMITED
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(YINGKOU)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(ANSHAN)
ISLANDS)	CORPORATION
HOLDING
COMPANY

~16~

==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021 Description
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(HUIZHOU)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(GUIYANG)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(TAIZHOU)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(DEZHOU)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(LUOYANG)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	SMARTER	Investment	100	100	100
(CAYMAN	CAPITAL
ISLANDS)	LIMITED
HOLDING
COMPANY
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(FUJIAN
ISLANDS)	QUANZHOU)
HOLDING	CORPORATION
COMPANY

~17~

==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(JINZHOU)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	Clevo (China)	Investment in	100	100	100
(CAYMAN	Investment Co.,	companies
ISLANDS)	Ltd.	primarily engaged
HOLDING		in research and
COMPANY		development and
		advisory service
CLEVO	BUYNOW	Investment	100	100	100
(CAYMAN	(SHANTOU)
ISLANDS)	CORPORATION
HOLDING
COMPANY
CLEVO	CLEVO (HK)	Investment	-	-	100	(Note 5)
(CAYMAN	INVESTMENT
ISLANDS)	HOLDING
HOLDING	LIMITED
COMPANY
BUYNOW ON-	BUYNOW ON-	Investment	100	100	100	(Note 1)
LINE HOLDING	LINE LIMITED
CORPORATION
SKILL	WELL ASIA	Investment	100	100	100
DEVELOP	INVESTMENT
INTERNATION	LIMITED
AL
LIMITED

~18~

==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
CLEVO	BUYNOW	Investment	100	100	100
COMPUTER	(CHENGDU)
SINGAPORE	CORPORATION
PTE LTD.
CLEVO	Buynow	Manufacturing,	100	100	100
COMPUTER	(Nanjing) Facility	sale, research and
SINGAPORE	Leasing And	development of
PTE LTD.	Management Co.,	computers and
	Ltd.	computer
		peripherals and
		services for related
		electronic products
CLEVO	Kalor Buynow	Manufacturing,	100	100	100
COMPUTER	(Heifei)	sale, research and
SINGAPORE	Electronic	development of
PTE LTD.	Information Co.,	computers and
	Ltd.	computer
		peripherals and
		services for related
		electronic products
CLEVO	Qingdao Buynow	Manufacturing,	8.82	8.82	8.82	(Note 2)
COMPUTER	Technology	sale, research and
SINGAPORE	Industry Co., Ltd.	development of
PTE LTD.		computers and
		computer
		peripherals.
		Display, advisory
		and after-sales
		service of digital
		products. Property
		management of
		self-owned
		buildings

~19~

==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
BUYNOW	Qingdao Buynow	Manufacturing,	20.59	20.59	20.59	(Note 2)
GROUP	Technology	sale, research and
(QINGDAO)	Industry Co., Ltd.	development of
CORPORATION		computers and
		computer
		peripherals.
		Display, advisory
		and after-sales
		service of digital
		products. Property
		management of
		self-owned
		buildings
KAPOK	Kapok Computer	Manufacturing,	100	100	100
COMPUTER	(Kunshan) Co.,	sale, research and
(SAMOA)	Ltd.	development and
CORPORATION		maintenance
		service of
		computer,
		notebook, tablet,
		information and
		communication
		products and
		computer
		components
BUYNOW	Shanghai Buynow	Rental of the	21.21	21.21	21.21	(Note 2)
GLOBAL	Electronic	display venues of
CORPORATION	Information Co.,	computer and
	Ltd.	related electronic
		products;
		information
		consultation;
		maintenance
		services; property
		management

~20~

==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021 Description
BUYNOW	Quality Trust	Property	100	100	100
GLOBAL	Property	management,
CORPORATION	Management Co.,	advisory of real
	Ltd.	estate, building
		leasing,
		housekeeping
		service, parking lot
		service, car wash
		service and
		business service
BUYNOW	Kunshan Kaishuo	Mechanical	100	100	100
GLOBAL	Trading Co., Ltd.	equipment and
CORPORATION		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

~21~

==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021 Description
BUYNOW	Buynow	Manufacturing,	100	100	100
(HANGZHOU)	(Hangzhou)	sale, maintenance
CORPORATION	Electronic	service, research
	Information Co.,	and development of
	Ltd.	computers and
		computer
		peripherals and
		digital products,
		and property
		management of
		buildings
BUYNOW	Buynow (Xian)	Manufacturing,	100	100	100
GROUP (XIAN)	Industry Co., Ltd.	sale, maintenance
CORPORATION		service, research
		and development of
		computers and
		computer
		peripherals and
		digital products
BUYNOW	Changsha	Manufacturing,	100	100	100
GROUP	Hungyu Business	sale, maintenance
(CHANGSHA)	Management Co.,	service, research
CORPORATION	Ltd.	and development of
		computers and
		computer
		peripherals and
		digital products,
		and property
		management of
		buildings
BUYNOW	Buynow	Manufacturing,	100	100	100
(ZHENGZHOU)	(Zhengzhou)	sale, maintenance
CORPORATION	Electronic	service, research
	Information Co.,	and development of
	Ltd.	computers and
		computer
		peripherals and
		digital products

~22~

==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
BUYNOW	Buynow	Self-owned	38.29	38.29	100	(Note 4)
(NANCHANG)	(Nanchang)	property
CORPORATION	Industry Co., Ltd.	management and
		leasing.
		Manufacturing,
		sale, research and
		development of
		computer software
		and hardware and
		digital products
BUYNOW	Buynow	Manufacturing,	100	100	100
(GUANGZHOU)	(Guangzhou)	sale, maintenance
CORPORATION	Electronic	service, research
	Information Co.,	and development of
	Ltd.	computers and
		computer
		peripherals and
		digital products
BUYNOW	Buynow (Fujian)	Manufacturing,	100	100	100
(XIAMEN)	Electronic	sale, maintenance
CORPORATION	Technology	service, research
	Development Co.,	and development of
	Ltd.	computers and
		computer
		peripherals and
		digital products
BUYNOW	Buynow	Manufacturing,	95.24	95.24	95.24	(Note 2)
(CHANGCHUN)	(Changchun)	sale, maintenance
CORPORATION	Industry Co., Ltd.	service, research
		and development of
		computers and
		computer
		peripherals and
		digital products,
		and property
		management of
		buildings

~23~

==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
FLYING WOLF	Buynow	Manufacturing,	4.76	4.76	4.76	(Note 2)
INVESTMENT	(Changchun)	sale, maintenance
LIMITED	Industry Co., Ltd.	service, research
		and development of
		computers and
		computer
		peripherals and
		digital products,
		and property
		management of
		buildings
FLYING WOLF	Buynow	Research and	100	100	100
INVESTMENT	Electronic	development of
LIMITED	Information	computers and
	(Shenyang) Co.,	computer
	Ltd.	peripherals and
		electronic products,
		and advisory of
		economic
		information
FLYING WOLF	Buynow (Wuxi)	Manufacturing,	28.57	28.57	28.57	(Note 2)
INVESTMENT	Electronic	sale, maintenance
LIMITED	Technology	service, research
	Development Co.,	and development of
	Ltd.	computer software
		and digital
		products
BUYNOW	Buynow (Wuxi)	Manufacturing,	71.43	71.43	71.43	(Note 2)
(WUXI)	Electronic	sale, maintenance
CORPORATION	Technology	service, research
	Development Co.,	and development of
	Ltd.	computer software
		and digital
		products

~24~

==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021 Description
BUYNOW	Buynow (Harbin)	Manufacturing,	100	100	100
(HARBIN)	Industry Co., Ltd.	sale, maintenance
CORPORATION		service, research
		and development of
		computer software
		and digital
		products
BUYNOW	Buynow	Manufacturing,	100	100	100
(CHENGDU)	(Chengdu)	sale, maintenance
CORPORATION	Electronic	service, research
	Information Co.,	and development of
	Ltd.	computers and
		computer
		peripherals and
		digital products,
		and property
		management of
		buildings
FLYING	Tianjin Buynow	Development,	100	100	100
INTERNATION	Electronic	production and
AL	Information Co.,	sales of computer
INVESTMENT	Ltd.	hardware and
LIMITED		software and
		electronic digital
		technology
		products

~25~

==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
BUYNOW	Buynow	Manufacturing,	100	100	100
(CHONGQING)	(Chongqing)	sale, research and
LIMITED	Industry Co., Ltd.	development of
		computers and
		computer
		peripherals (not
		including electronic
		publishing),
		shopping mall
		management,
		wholesale and
		retail of electronic
		products, property
		management and
		parking lot service
BUYNOW ON-	Shanghai Buynow	Wholesale and	100	100	100	(Note 1)
LINE LIMITED	Online	retail, import and
	Information	export, and after-
	Technology Co.,	sales service of
	Ltd.	household
		appliances,
		computer and
		computer
		components,
		communication
		equipment,
		electrical devices,
		office supplies and
		complementary
		products;
		development,
		technology
		transfer, advisory,
		service and training
		of Internet,
		computer software
		and hardware and
		communication
		equipment

~26~

==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
BUYNOW	Daqing Buynow	Manufacturing,	100	100	100
(DAQING)	Electronic	retail and
CORPORATION	Information	wholesale of
	Corporation	computers and
		computer
		peripherals, and
		electronic
		information
		shopping mall
		management
WELL ASIA	Guangdong	Self-owned	65	65	65	(Note 2)
INVESTMENT	Buynow Real	property
LIMITED	Estate	management and
	Management Co.,	leasing.
	Ltd.	Manufacturing,
		sale, research and
		development of
		computer software
		and hardware and
		digital products
BUYNOW	Zibo Buynow	Manufacturing,	100	100	100
(ZIBO)	Electronic	sale, maintenance
CORPORATION	Information Co.,	service, research
	Ltd.	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

~27~

==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
BUYNOW	Beijing Clevo	Business advisory	76	76	76	(Note 2)
(BEIJING)	Investment	of investment
CORPORATION	Management	management,
	Consultant Co.,	wholesale agency
	Ltd.	of electronic
		products, import
		and export of
		goods and property
		management
BUYNOW	Buynow	Manufacturing,	100	100	100
(YANCHENG)	(Yancheng)	sale, maintenance
CORPORATION	Electronoc	service, research
	Information	and development of
	Technology	computers and
	Development Co.	computer
	Ltd.	peripherals and
		digital products,
		and advisory of
		business
		management
BUYNOW	Buynow	Manufacturing,	40	40	40	(Note 2)
(HUIZHOU)	Electronic	sale, research and
CORPORATION	Information	development and
	(Huizhou) Co.,	after-sales service
	Ltd.	of computers and
		computer
		peripherals;
		property
		management of
		buildings

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Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021 Description
BUYNOW	Yingkou Buynow	Manufacturing,	100	100	100
(YINGKOU)	Electronic	sale, maintenance
CORPORATION	Information Co.,	service, research
	Ltd.	and development of
		computers and
		computer
		peripherals and
		digital products,
		and advisory of
		business
		management
BUYNOW	Anshan Buynow	Manufacturing,	100	100	100
(ANSHAN)	Electronic	sale, maintenance
CORPORATION	Information Co.,	service, research
	Ltd.	and development of
		computers and
		computer
		peripherals and
		digital products,
		and advisory of
		business
		management
BUYNOW	Guiyang Buynow	Research and	100	100	100
(GUIYANG)	Electronic	development and
CORPORATION	Information Co.,	maintenance
	Ltd.	service of
		computers and
		computer
		peripherals and
		electronic
		products; advisory
		service of business
		management and
		shopping mall
		management

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Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
BUYNOW	Taizhou Buynow	Manufacturing,	100	100	100
(TAIZHOU)	Electronic	sale, maintenance
CORPORATION	Information Co.,	service, research
	Ltd.	and development of
		computers and
		computer
		peripherals and
		digital products,
		and advisory of
		business
		management
SMARTER	BUYNOW SZ.	Investment	100	100	100
CAPITAL	CORPORATION
LIMITED
BUYNOW SZ.	Suzhou Jinzuo	Business affairs	100	100	100
CORPORATION	Industry Co., Ltd.	and property
		management
		business
BUYNOW	Dezhou Buynow	Research and	48.6	48.6	100	(Note 3)
(DEZHOU)	Electronic	development and
CORPORATION	Information Co.,	maintenance
	Ltd.	service of
		computers and
		computer
		peripherals and
		electronic
		products; advisory
		service of business
		management and
		shopping mall
		management

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Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021 Description
BUYNOW	Luoyang Buynow	Research and	100	100	100
(LUOYANG)	Electronic	development and
CORPORATION	Information Co.,	maintenance
	Ltd.	service of
		computers and
		computer
		peripherals and
		electronic
		products; advisory
		service of business
		management and
		shopping mall
		management
BUYNOW	Quanzhou	Research and	100	100	100
(FUJIAN	Buynow Industry	development and
QUANZHOU)	Co., Ltd.	maintenance
CORPORATION		service of
		computers and
		computer
		peripherals and
		electronic
		products; advisory
		service of business
		management and
		shopping mall
		management

~31~

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Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021 Description
BUYNOW	Buynow (Jinzhou)	Manufacturing of	100	100	100
(JINZHOU)	Industry Co., Ltd.	computer software
CORPORATION		and hardware and
		consumer
		electronic
		products; Business
		management
		advisory services
		and shopping mall
		management
BUYNOW	Shantou Buynow	Investment in	100	100	100
(SHANTOU)	Mall Co., Ltd.	companies
CORPORATION		primarily engaged
		in research and
		development and
		advisory service
Kapok Computer	Kunshan Kaiming	Provide market	100	100	100
(Kunshan) Co.,	Trading Co., Ltd.	management
Ltd.		services for
		operators of laptop
		computer, tablet,
		desktop computer,
		palmtop computer,
		information and
		communication
		products and
		computer
		components

~32~

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Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
Shanghai Buynow	Shanghai Buynow	Provide market	100	100	100
Electronic	Electronic	management
Information Co.,	Products Market	services for
Ltd.	Management Co.,	operators of
	Ltd.	electronic products
Shanghai Buynow	Shanghai Huihei	Advertising design	100	100	100
Electronic	Advertisment Co.,	and marketing
Products Market	Ltd.
Management Co.,
Ltd.
Shanghai Buynow	Shanghai	Catering business	80	80	80	(Note 2)
Electronic	Huizhuan	management
Products Market	Restaurant
Management Co.,	Management Co.,
Ltd.	Ltd.
Quality Trust	Wuxi Quntai	Property	100	100	100
Property	Property	management,
Management Co.,	Management Co.,	advisory of real
Ltd.	Ltd.	estate, building
		leasing,
		housekeeping
		service, parking lot
		service, car wash
		service and
		business service

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Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
Buynow (Wuxi)	Wuxi Buynow	Leasing of facility,	100	100	100
Electronic	Electronic Market	market
Technology	Co., Ltd.	management
Development Co.,		service, catering
Ltd.		management,
		property
		management,
		parking lot
		management
Buynow (Wuxi)	Beijing Kaiye	Technology-	12.5	12.5	12.5	(Note 2)
Electronic	Electronic	extension services,
Technology	Technology Co.,	computer
Development Co.,	Ltd.	maintenance,
Ltd.		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

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Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
Buynow	Guangdong	Self-owned	35	35	35	(Note 2)
(Guangzhou)	Buynow Real	property
Electronic	Estate	management and
Information Co.,	Management Co.,	leasing.
Ltd.	Ltd.	Manufacturing,
		sale, research and
		development of
		computer software
		and hardware and
		digital products
Buynow	Buynow	Manufacturing,	60	60	60	(Note 2)
(Guangzhou)	Electronic	sale, research and
Electronic	Information	development and
Information Co.,	(Huizhou) Co.,	after-sales service
Ltd.	Ltd.	of computers and
		computer
		peripherals;
		property
		management of
		buildings
Clevo (China)	Shanghai	Catering business	20	20	20	(Note 2)
Investment Co.,	Huizhuan	management
Ltd.	Restaurant
	Management Co.,
	Ltd.
Clevo (China)	Shanghai Buynow	Rental of the	78.79	78.79	78.79	(Note 2)
Investment Co.,	Electronic	display venues of
Ltd.	Information Co.,	computer and
	Ltd.	related electronic
		products;
		information
		consultation;
		maintenance
		services; property
		management

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Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
Clevo (China)	Qingdao Buynow	Rental of the	70.59	70.59	70.59	(Note 2)
Investment Co.,	Technology	display venues of
Ltd.	Industry Co., Ltd.	computer and
		related electronic
		products;
		information
		consultation;
		maintenance
		services; property
		management
Kalor Buynow	Beijing Kaiye	Technology-	12.5	12.5	12.5	(Note 2)
(Heifei)	Electronic	extension services,
Electronic	Technology Co.,	computer
Information Co.,	Ltd.	maintenance,
Ltd.		public parking lot
		service for
		motorcycle,
		property
		management,
		business
		management,
		business
		management and
		advisory, business
		building leasing,
		wholesale of
		computer and
		computer
		peripherals,
		hardware electronic
		and daily appliance

~36~

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Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
Buynow	Beijing Kaiye	Technology-	12.5	12.5	12.5	(Note 2)
(Zhengzhou)	Electronic	extension services,
Electronic	Technology Co.,	computer
Information Co.,	Ltd.	maintenance,
Ltd.		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

~37~

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Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
Buynow	Beijing Kaiye	Technology-	12.5	12.5	12.5	(Note 2)
(Changchun)	Electronic	extension services,
Industry Co., Ltd.	Technology Co.,	computer
	Ltd.	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

~38~

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Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
Buynow	Beijing Kaiye	Technology-	25	25	25	(Note 2)
(Nanchang)	Electronic	extension services,
Industry Co., Ltd.	Technology Co.,	computer
	Ltd.	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

~39~

==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
Buynow	Beijing Kaiye	Technology-	12.5	12.5	12.5	(Note 2)
(Hangzhou)	Electronic	extension services,
Electronic	Technology Co.,	computer
Information Co.,	Ltd.	maintenance,
Ltd.		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

~40~

Investor Name of subsidiaries Main business activities 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, business management and advisory, business building leasing, wholesale of computer and computer peripherals, hardware electronic and daily appliance	March 31, 2022 December 31,2021 March 31, 2021 Ownership (%) 12.5 12.5 12.5	Description (Note 2)
	12.5

~41~

==> picture [501 x 53] intentionally omitted <==

Investor	Name of subsidiaries	Main business activities	March 31, 2022	December 31, 2021	March 31, 2021	Description
Buynow	Beijing Clevo	Business advisory	12.39	12.39	12.39	(Note 2)
(Changchun)	Investment	of investment
Industry Co., Ltd.	Management	management,
	Consultant Co.,	wholesale agency
	Ltd.	of electronic
		products, import
		and export of
		goods and property
		management
Buynow	Beijing Clevo	Business advisory	11.61	11.61	11.61	(Note 2)
(Zhengzhou)	Investment	of investment
Electronic	Management	management,
Information Co.,	Consultant Co.,	wholesale agency
Ltd.	Ltd.	of electronic
		products, import
		and export of
		goods and property
		management
Buynow	Dezhou Buynow	Research and	12.85	12.85	-	(Note 3)
(Chengdu)	Electronic	development and
Electronic	Information Co.,	maintenance
Information Co.,	Ltd.	service of
Ltd.		computers and
		computer
		peripherals and
		electronic
		products; advisory
		service of business
		management and
		shopping mall
		management

~42~

==> picture [501 x 53] intentionally omitted <==

Investor	subsidiaries	activities	2022	31, 2021	2021	Description
Buynow	Dezhou Buynow	Research and	12.85	12.85	-	(Note 3)
(Zhengzhou)	Electronic	development and
Electronic	Information Co.,	maintenance
Information Co.,	Ltd.	service of
Ltd.		computers and
		computer
		peripherals and
		electronic
		products; advisory
		service of business
		management and
		shopping mall
		management
Guangdong	Dezhou Buynow	Research and	12.85	12.85	-	(Note 3)
Buynow Real	Electronic	development and
Estate	Information Co.,	maintenance
Management Co.,	Ltd.	service of
Ltd.		computers and
		computer
		peripherals and
		electronic
		products; advisory
		service of business
		management and
		shopping mall
		management
Buynow	Dezhou Buynow	Research and	12.85	12.85	-	(Note 3)
(Changchun)	Electronic	development and
Industry Co., Ltd.	Information Co.,	maintenance
	Ltd.	service of
		computers and
		computer
		peripherals and
		electronic
		products; advisory
		service of business
		management and
		shopping mall
		management

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Investor	subsidiaries	activities	2022	31, 2021	2021	Description
Dezhou Buynow	Buynow	Manufacturing,	15.43	15.43	-	(Note 4)
Electronic	(Nanchang)	sale, maintenance
Information Co.,	Industry Co., Ltd.	service, research
Ltd.		and development of
		computers and
		computer
		peripherals and
		digital products,
		and property
		management of
		buildings
Buynow (Harbin)	Buynow	Manufacturing,	12.34	12.34	-	(Note 4)
Industry Co., Ltd.	(Nanchang)	sale, maintenance
	Industry Co., Ltd.	service, research
		and development of
		computers and
		computer
		peripherals and
		digital products,
		and property
		management of
		buildings
Clevo (China)	Buynow	Manufacturing,	9.26	9.26	-	(Note 4)
Investment Co.,	(Nanchang)	sale, maintenance
Ltd.	Industry Co., Ltd.	service, research
		and development of
		computers and
		computer
		peripherals and
		digital products,
		and property
		management of
		buildings

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Investor	subsidiaries	activities	2022	31, 2021	2021	Description
Anshan Buynow	Buynow	Manufacturing,	9.26	9.26	-	(Note 4)
Electronic	(Nanchang)	sale, maintenance
Information Co.,	Industry Co., Ltd.	service, research
Ltd.		and development of
		computers and
		computer
		peripherals and
		digital products,
		and property
		management of
		buildings
Shanghai Buynow	Buynow	Manufacturing,	7.71	7.71	-	(Note 4)
Electronic	(Nanchang)	sale, maintenance
Information Co.,	Industry Co., Ltd.	service, research
Ltd.		and development of
		computers and
		computer
		peripherals and
		digital products,
		and property
		management of
		buildings
Shantou Buynow	Buynow	Manufacturing,	7.71	7.71	-	(Note 4)
Mall Co., Ltd.	(Nanchang)	sale, maintenance
	Industry Co., Ltd.	service, research
		and development of
		computers and
		computer
		peripherals and
		digital products,
		and property
		management of
		buildings

Note 1: The financial statements of the entity as of and for the three months ended March 31, 2022 and 2021 were not reviewed by the independent auditors as the entity did not meet the definition of a significant subsidiary.

Note 2: The parent company of the Group held 100% of the shares in these subsidiaries, and the subsidiaries were included in the consolidated financial statements.

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Note 3: 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., 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 4: 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 5: 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	March 31, 2022 December 31, 2021 100 100 Ownership (%)	March 31, 2022 December 31, 2021 100 100 Ownership (%)	March 31, 2021	Descriptio
				December 31, 2021
The Company	Clevo France Sarl	Design and sale of computers and computer peripherals	100	100	100	(Note)

Note: As CLEVO FRANCE SARL has ceased operations, there was no outstanding balance in its balance sheet as of March 31, 2022, December 31, 2021 and March 31, 2021 and income statement accounts and for the three months ended March 31, 2022 and 2021.

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

~46~

the Company’s functional and the Group’s presentation currency.

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

~47~

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.

(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.

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(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.
- (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.

~49~

(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.
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 the estimated costs necessary to make the sale.
(14) Investments accounted for using equity method / associates
A. Associates are all entities over which the Group has significant influence but not control. In general, it is presumed that the investor has significant influence, if an investor holds, directly or indirectly 20 percent or more of the voting power of the investee. Investments in associates are accounted for using the equity method and are initially recognised at cost.
B. The Group’s share of its associates’ post-acquisition profits or losses is recognised in profit or loss, and its share of post-acquisition movements in other comprehensive income is recognised in other comprehensive income. When the Group’s share of losses in an associate equals or exceeds its interest in the associate, including any other unsecured receivables, the Group does not recognise further losses, unless it has incurred legal or constructive obligations or made payments on behalf of the associate.
C. When changes in an associate’s equity do not arise from profit or loss or other comprehensive income of the associate and such changes do not affect the Group’s ownership percentage of the associate, the Group recognises change in ownership interests in the associate in ‘capital surplus’ in proportion to its ownership.
D. Unrealized gains on transactions between the Group and its associates are eliminated to the extent of the Group’s interest in the associates. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been adjusted where necessary to ensure consistency with the policies adopted by the Group.
E. When the Group disposes its investment in an associate and loses significant influence over this associate, the amounts previously recognised in other comprehensive income in relation to the associate, are reclassified to profit or loss, on the same basis as would be required if the relevant assets or liabilities were disposed of. If it retains significant influence over this associate, the

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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.

(15) 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.
(16) 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:

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

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3 ~ 5 years 3 ~ 5 years

Office equipment Other equipment Leasehold improvements

5 ~30 years

(17) 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.

(18) 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.

(19) 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.

(20) 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.

(21) 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.
(22) 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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(23) 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’.

(24) Derecognition of financial liabilities

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

(25) 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.

(26) 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.

(27) 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.

(28) 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 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

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     - 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.

     - iv. Pension cost for the interim period is calculated on a year-to-date basis by using the pension cost rate derived from the actuarial valuation at the end of the prior financial year, adjusted for significant market fluctuations since that time and for significant curtailments, settlements, or other significant one-off events. Also, the related information is disclosed accordingly.

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.
(29) 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 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.

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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.
G. The interim period income tax expense is recognised based on the estimated average annual effective income tax rate expected for the full financial year applied to the pretax income of the interim period, and the related information is disclosed accordingly.
H. If a change in tax rate is enacted or substantively enacted in an interim period, the Group recognises the effect of the change immediately in the interim period in which the change occurs. The effect of the change on items recognised outside profit or loss is recognised in other comprehensive income or equity while the effect of the change on items recognised in profit or loss is recognised in profit or loss.

(30) 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

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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.

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

(32) 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

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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 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.
(33) 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.

(34) 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.

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5. CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND KEY SOURCES OF ASSUMPTION UNCERTAINTY

The preparation of these consolidated financial statements requires management to make critical judgements in applying the Group’s accounting policies and make critical assumptions and estimates concerning future events. Assumptions and estimates may differ from the actual results and are continually evaluated and adjusted based on historical experience and other factors. Such assumptions and estimates have a significant risk of causing a material adjustment to the carrying amounts of assets 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 March 31, 2022, the carrying amount of inventories was $5,215,840.

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 March 31, 2022, the carrying amount of investment property was $64,717,108.

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6. DETAILS OF SIGNIFICANT ACCOUNTS

(1) Cash and cash equivalents

Cash on hand and revolving funds Checking accounts and demand deposits Time deposits	March31,2022 December 31, 2021 March 31, 2021 1,543 $ 3,089 $ 1,659 $ 2,569,977 3,713,115 2,740,572 172,399 99,837 684,427 2,743,919 $ 3,816,041 $ 3,426,658 $

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 $29,288, $28,230 and $647,220 were classified as ‘financial assets at amortized cost’ as of March 31, 2022, December 31, 2021 and March 31, 2021, respectively.
C. Demand deposits pledged to others as collateral for borrowings amounting to $98,756, $65,397 and $62,346 were classified as ‘other current assets’ as of March 31, 2022, December 31, 2021 and March 31, 2021, respectively.
D. Demand deposits pledged to others as collateral for bonds payable amounting to $1,016,672, $1,018,549 and $1,016,887 were classified as ‘other non-current assets’ as of March 31, 2022, December 31, 2021 and March 31, 2021, respectively.

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

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Assets items March 31, 2022 December 31, 2021 March 31, 2021
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Current items: Financial assets mandatorily measured at fair value through profit or loss Listed stocks Beneficiary certificates Derivative instruments Valuation adjustment	1,033,853 $ 1,385,663 8,664 632,812 3,060,992 $	913,241 $ 982,801 2,727 631,304 2,530,073 $	484,918 $ 936,208 16,279 568,380 2,005,785 $

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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:
			Three-month	period ended
			March 31, 2022			March 31, 2021
Financial assets mandatorily
measured at fair value through
profit or loss
Equity instruments		$	11,183		$	103,371
Beneficiary certificates	(		45,901)	(		42,876)
Derivative instruments			5,937			22,709
	($		28,781)		$	83,204

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:

Derivative financial liabilities Current items: Forward foreign exchange contracts Derivative financial liabilities Current items: Forward foreign exchange contracts Derivative financial assets Current items: Foreign exchange swap Forward foreign exchange contracts	March 31, 2022	March 31, 2022
	Contract amount (notionalprincipal) Contract period USD$ 6,000 2021/09/10~2022/09/14 December 31, 2021
	Contract amount (notional principal) Contract period USD $ 9,000 2021/09/10~2022/09/14 March31,2021	Contract period
	Contract amount (notionalprincipal) USD$ 9,000 USD$ 57,000	Contract period
		2020/06/08~2021/06/10 2020/06/08~2021/06/30

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.

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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

Accounts receivable
		March	31, 2022	December31,2021				March	31, 2021
Accounts receivable		$	3,770,020		$	3,470,290		$	2,695,515
Less: Allowance for uncollectible
accounts	(		57,356)	(		43,889)	(		39,550)
		$	3,712,664		$	3,426,401		$	2,655,965

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

is as follows:
Not past due Up to 30 days 31 to 90 days 91 to 180 days Over 180 days	March31,2022 December31,2021 2,527,057 $ 2,232,041 $ 905,114 1,071,075 208,980 68,487 35,317 35,704 93,552 62,983 3,770,020 $ 3,470,290 $	March31,2021
		2,274,194 $ 301,481 40,150 19,173 60,517
		2,695,515 $

The above ageing analysis was based on past due date.

B. As of March 31, 2022, December 31, 2021, March 31, 2021 and January 1, 2021, the balances of receivables from contracts with customers amounted to $3,770,020, $3,470,290, $2,695,515 and $2,288,178, respectively.
C. The Group has no accounts receivable pledged to others.
D. As at March 31, 2022, December 31, 2021 and March 31, 2021, 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 $3,712,664, $3,246,401 and $2,655,965, 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).

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(4) Inventories

Inventories
Raw materials Semi-finished goods Work in progress Finished goods Merchandise inventory Buildings and land held for sale Raw materials Semi-finished goods Finished goods Merchandise inventory Buildings and land held for sale Construction in progress Raw materials Semi-finished goods Work in progress Finished goods Merchandise inventory Buildings and land held for sale Construction in progress		Cost 3,033,485 $ 110,990 115,827 64,500 37,453 3,362,255 2,225,698 $ 5,587,953 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 (78,553) $ 6,392) ( - 171) ( 3,694) ( 88,810) ( 283,303) ( ($ 372,113) March31,2022 Allowance for valuation loss 70,557) ($ 5,035) ( 30) ( 4,621) ( 80,243) ( 271,625) ( - ($ 351,868) December31,2021 March31,2021	Bookvalue 2,954,932 $ 104,598 115,827 64,329 33,759 3,273,445 1,942,395 $ 5,215,840 Book value 2,618,179 $ 128,244 6,915 28,713 2,782,051 1,142,203 769,723 $ 4,693,977
		Cost 2,511,229 $ 83,722 93,371 5,906 31,746 2,725,974 1,829,404 684,779 $ 5,240,157		Bookvalue 2,448,387 $ 77,745 93,371 5,871 31,746 2,657,120 1,685,037 684,779 $ 5,026,936

A. The cost of inventories recognised as expense for the three-month periods ended March 31, 2022 and 2021 was $5,055,641 and $4,336,108, respectively, including the amount of $13,366 and $10,665, respectively, that the Group wrote down inventories from cost to net realizable value accounted for as cost of goods sold.

B. The capitalised borrowing costs for the three-month periods ended March 31, 2022 and 2021 were

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$8,595 and $5,397, respectively, and the capitalised rates were 0%~5.00% and 3.00%~5.34%, respectively.

C. The Group has no inventory pledged to others.

(5) Investments accounted for using equity method

Associates: Chicony Square (Wuhan) Inc. Chicony Square (Cayman) Inc. Chicony Chengdu International Inc. Joint ventures: TAIPEI TWIN CORPORATION		March31,2022 December31,2021 March31,2021 1,578,878 $ 1,500,494 $ 2,405,382 $ 138,618 121,505 59,083 63,901 59,897 51,769 960,853 967,296 983,530 2,742,250 $ 2,649,192 $ 3,499,764 $

A. Associates:

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

Company name	Principal place of business	Shareholdingratio	Shareholdingratio	Shareholdingratio	Nature of relationship	Method of measurement
Chicony Square (Wuhan) Inc. Chicony Square (Cayman) Inc. Chicony Chengdu International Inc.	China (Note 2) China (Note 3) China (Note 2)	March 31, 2022	December 31, 2021	March 31, 2021	Significant influence associate Significant influence associate Significant influence associate	Equity method Equity method Equity method
		30% 30% 3.75% (Note 1)	30% 30% 3.75% (Note 1)	30% 30% 3.75% (Note 1)

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.

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

Balance sheet

The summarised financial information of the associates that are material to the Group is as follows: Balance sheet	The summarised financial information of the associates that are material to the Group is as follows: Balance sheet	The summarised financial information of the associates that are material to the Group is as follows: Balance sheet
Statement of comprehensive income March 31, 2022 December 31, 2021 March 31, 2021 Current assets 2,036,031 $ 1,996,774 $ 404,213 $ Non-current assets 4,881,124 4,631,864 7,622,589 Current liabilities 1,654,228) ( 1,626,991) ( 8,861) ( Total net assets 5,262,927 $ 5,001,647 $ 8,017,941 $ Carrying amount of the associate 1,578,878 $ 1,500,494 $ 2,405,382 $ Chicony Square (Wuhan) Inc. March31,2022 December31,2021 March31,2021 Current assets 1,949 $ 1,888 $ 2,101 $ Non-current assets 2,834,041 2,698,329 2,546,928 Current liabilities 230,804) ( 219,574) ( 215,411) ( Non-current liabilities 2,143,125) ( 2,075,625) ( 2,136,675) ( Total net assets 462,061 $ 405,018 $ 196,943 $ Carrying amount of the associate 138,618 $ 121,505 $ 59,083 $ Chicony Square (Cayman) Inc. March31,2022 December 31, 2021 March31,2021 Current assets 31 $ 30 $ 30 $ Non-current assets 1,703,987 1,597,232 1,380,478 Total net assets 1,704,018 $ 1,597,262 $ 1,380,508 $ Carrying amount of the associate 63,901 $ 59,897 $ 51,769 $ Chicony ChengduInternational Inc. March31,2022 March31,2021 Profit for the period from 90,432 $ 90,334 $ continuing operations Other comprehensive income, net of tax 170,848 57,100 Total comprehensive income 261,280 $ 147,434 $ Chicony Square(Wuhan)Inc. Three-monthperiod ended
	Three-monthperiod ended
		March31,2021 90,334 $ 57,100 147,434 $

Statement of comprehensive income

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Chicony Square (Cayman) Inc.

Profit for the period from continuing operations Other comprehensive income, net of tax Total comprehensive income Profit for the period from continuing operations Other comprehensive income, net of tax Total comprehensive income	March31,2022 March31,2021 18,779 $ 21,626 $ 38,263 8,047 57,042 $ 29,673 $ Three-monthperiod ended March 31, 2022 March31,2021 45,756 $ 44,969 $ 61,000 9,201 106,756 $ 54,170 $ Chicony ChengduInternational Inc. Three-month period ended

B. Joint ventures
(a) The basic information of the joint venture that is material to the Group is as follows:

Companyname Principal place of business TAIPEI TWIN CORPORATION New Taipei City	March 31, 2022 December 31,2021 March 31, 2021 Nature of relationship 50% 50% 50% Financial investment Shareholdingratio	March 31, 2022 December 31,2021 March 31, 2021 Nature of relationship 50% 50% 50% Financial investment Shareholdingratio	Method of measurement
	50%	50%	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 TWIN			CORPORATION
		March	31,2022	December31,2021				March	31,2021
Cash and cash equivalents		$	883,291		$	1,155,430		$	1,419,569
Other current assets			168,742			4,793			3,074
Current assets		$	1,052,033		$	1,160,223		$	1,422,643
Non-current assets			1,057,608			954,743			565,464
Total assets		$	2,109,641		$	2,114,966		$	1,988,107
Current liabilities	($		187,934)	($		180,375)	($		21,047)
Total liabilities	(		187,934)	(		180,375)	(		21,047)
Total net assets		$	1,921,707		$	1,934,591		$	1,967,060
Share in joint venture's net assets		$	960,853		$	967,296		$	983,530
Carrying amount of the joint venture		$	960,853		$	967,296		$	983,530

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Statement of comprehensive income

Statement of comprehensive income
Other operating expenses Depreciation and amortisation Interest income Other gains and losses Loss before income tax Income tax expense Loss, net of tax Total comprehensive loss Dividends received from joint venture		TAIPEI TWIN CORPORATION Three-monthperiod ended March31
		2022	2021
	13,685) ($ 74) ( 875 - 12,884) ( - 12,884) ($ 12,884) ($ - $		7,890) ($ 104) ( 278 503 7,213) ( - 7,213) ($ 7,213) ($ - $

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.

C. The amounts of the associates accounted for under the equity method recognised by the Group were based on the financial statements of each associate that were not reviewed by the independent auditors for the corresponding periods. For the three-month periods ended March 31, 2022 and 2021, the Group recognised share of profit and other comprehensive income of associates amounting to $83,308 and $50,127, respectively. On March 31, 2022 and 2021, the investments accounted for under the equity method amounted to $2,742,250 and $3,499,764, respectively. On December 31, 2021, the amounts of associates accounted for under the equity method recognised by the Group were based on the financial statements of each associate that were audited by the independent auditors for the corresponding period. The related investments accounted for under the equity method amounted to $2,649,192.

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2022

(6) Property, plant and equipment

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 March 31 At March 31 Cost Accumulated depreciation and impairemt	Buildings and structures	Machinery and equipment	Molding equipment	Computers and communication equipment	Transportation equipment	Office equipment	Leasehold improvements	Other equipment		Construction in progress and equipment to be inspected Total 728,429 $ 3,608,547 $ - 1,074,655) ( 728,429 $ 2,533,892 $ 728,429 $ 2,533,892 $ - 12,455 - 27,907 - 2,606) ( - 41,543) ( 26,945 93,361 755,374 $ 2,623,466 $ 755,374 $ 3,789,734 $ - 1,166,268) ( 755,374 $ 2,623,466 $
	2,051,630 $ 715,985) ( 1,335,645 $ 1,335,645 $ 1,738 21,004 - 25,112) ( 49,408 1,382,683 $ 2,167,254 $ 784,571) ( 1,382,683 $	535,600 $ 142,261) ( 393,339 $ 393,339 $ 2,868 5,743 358) ( 11,551) ( 14,365 404,406 $ 562,091 $ 157,685) ( 404,406 $	15,168 $ 6,443) ( 8,725 $ 8,725 $ - - - 786) ( 322 8,261 $ 15,729 $ 7,468) ( 8,261 $	68,800 $ 51,396) ( 17,404 $ 17,404 $ 1,248 11) ( 52) ( 1,391) ( 511 17,709 $ 71,650 $ 53,941) ( 17,709 $	24,738 $ 19,105) ( 5,633 $ 5,633 $ - - 286) ( 340) ( 188 5,195 $ 24,150 $ 18,955) ( 5,195 $	97,532 $ 82,792) ( 14,740 $ 14,740 $ 77 506 1,370) ( 456) ( 545 14,042 $ 98,297 $ 84,255) ( 14,042 $	68,614 $ 46,069) ( 22,545 $ 22,545 $ 6,025 118) ( 120) ( 1,209) ( 832 27,955 $ 77,058 $ 49,103) ( 27,955 $	18,036 $ 10,604) ( 7,432 $ 7,432 $ 499 783 420) ( 698) ( 245 7,841 $ 18,131 $ 10,290) ( 7,841 $

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At January 1 Cost Accumulated depreciation and impairment Opening net book amount as at January 1 Additions Reclassifications Disposals Depreciation charge Net exchange differences Closing net book amount as at March 31 At March 31 Cost Accumulated depreciation and impairemt						2021
	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	Construction in progress and equipment to be inspected Total 1,589,055 $ 5,904,995 $ - 1,193,389) ( 1,589,055 $ 4,711,606 $ 1,589,055 $ 4,711,606 $ 4,873 9,004 6,684 464,958) ( - 14,778) ( - 46,372) ( 10,852 29,865 1,611,464 $ 4,224,367 $ 1,611,464 $ 5,244,443 $ - 1,020,076) ( 1,611,464 $ 4,224,367 $
		3,111,643 $ 801,151) ( 2,310,492 $ 2,310,492 $ - 353,664) ( - 29,858) ( 14,838 1,941,808 $ 2,632,180 $ 690,372) ( 1,941,808 $	660,477 $ 134,140) ( 526,337 $ 526,337 $ 1,344 98,184) ( 12) ( 11,238) ( 3,555 421,802 $ 534,406 $ 112,604) ( 421,802 $	10,903 $ 8,751) ( 2,152 $ 2,152 $ - - - 550) ( 16 1,618 $ 10,978 $ 9,360) ( 1,618 $	68,864 $ 54,302) ( 14,562 $ 14,562 $ 959 - 105) ( 1,197) ( 67 14,286 $ 67,967 $ 53,681) ( 14,286 $	24,165 $ 19,362) ( 4,803 $ 4,803 $ - - - 399) ( 32 4,436 $ 24,310 $ 19,874) ( 4,436 $	163,013 $ 123,078) ( 39,935 $ 39,935 $ 123 19,871) ( 26) ( 1,234) ( 270 19,197 $ 105,912 $ 86,715) ( 19,197 $	56,912 $ 34,191) ( 22,721 $ 22,721 $ 1,180 77 607) ( 970) ( 94 22,495 $ 57,247 $ 34,752) ( 22,495 $	33,400 $ 18,414) ( 14,986 $ 14,986 $ 525 - 14,028) ( 926) ( 141 698 $ 13,416 $ 12,718) ( 698 $

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 three-month periods ended March 31, 2022 and 2021.
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.
C. Information about the property, plant, and equipment that were pledged to others as collateral is provided in Note 8.

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(7) Leasing arrangements - lessee

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

Land Office Land Office	March 31, 2022 Carrying amount 4,157,805 $ 311,587 4,469,392 $
		March31,2022 Depreciationcharge 12,048 $ 7,658 19,706 $

C. For the three-month periods ended March 31, 2022 and 2021, the additions to right-of-use assets were $175,634 and $0, respectively. Information on the additions to right-of-use assets is provided in Note 7(2)F.
D. The information on profit and loss accounts related to lease contracts is as follows:

Items affecting profit or loss Interest expense on lease liabilities Expense on short-term lease contracts	Three-month period ended	Three-month period ended
	March31,2022 2,025 $ 3,600 $	March31,2021 1,399 $ 3,184 $

E. For the three-month periods ended March 31, 2022 and 2021, the Group’s total cash outflow for leases were $19,648 and $8,551, respectively.
F. The Group sold 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 certain levels of floors sold for a lease term of 4 years, and this 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 March 31, 2022, the amount was $20,377), others are for shopping mall land use.

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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 March 31, 2022. As of March 31, 2022, 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 three-month periods ended March 31, 2022 and 2021, the Group recognised rent income on investment property in the amount of $637,904 and $664,066, 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 2028 and after	March31,2022 - $ 247,425 366,469 372,327 381,813 377,560 363,798 1,068,392 3,177,784 $	December31,2021 - $ 349,816 353,397 359,046 368,193 364,092 350,821 1,030,282 3,175,647 $	March 31, 2021 402,258 $ 437,398 390,044 369,249 376,855 366,625 347,014 1,029,014 3,718,457 $

(9) Investment property

2022 At January 1 $ 62,408,602 Additions from subsequent expenditures 13,947 Net losses from fair value adjustment ( 13,866) Net exchange differences 2,308,425 At March 31 64,717,108 $	2021
	$ 63,638,847 10,646 - 421,473
	64,070,966 $

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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 period Direct operating expenses arising from the investment property that did not generate rental income during the period	March 31, 2022 March 31, 2021 637,904 $ 664,066 $ 228,190 $ 237,390 $ 17,192 $ 18,469 $ Three-monthperiod ended

B. Measurement of investment property at fair value

The fair value of the investment property held by the Group as at March 31, 2022, December 31, 2021 and March 31, 2021 was $64,717,108, $62,408,602 and $64,070,966, 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.

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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. The financial statements as of March 31, 2022 and 2021 continued to use certain investment properties appraisal reports as of January 1, 2022 and 2021, the reasonableness of which has been reasonably assessed by Charlie Yang, a real estate appraiser of Cushman & Wakefield, and Jia-Hui Chen, a real estate appraiser of Cushman & Wakefield Limited (HK), who jointly issued a review opinion report.

Summary of fair value disclosure on investment property:

Three-month period ended

March 31, 2022 Buynow plaza $84~$4,964 $5,720~$257,850 90%

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

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Three-month period ended March31,2021 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 Discount rate March 31, 2022 -Computer segment - -Buynow plaza 4.75%~6.75%	Computersegment

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	Three-monthperiod ended
	March 31, 2022 $27,031 3.70%~5.30%	March31,2021 $38,982 3.00%~5.34%

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

(10) Intangible assets

Software At January 1 Cost 8,088 $ At January 1 8,088 $ Amortisation charge 2,062) ( Net exchange differences 87 At March 31 6,113 $ At March 31 Cost 6,113 $		2022

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

2021
Software Goodwill Total
At January 1
Cost $ 20,452 $ 10,253 $ 30,705
At January 1 $ 20,452 $ 10,253 $ 30,705
Disposals ( 2,882) - ( 2,882)
Amortisation charge ( 2,757) - ( 2,757)
Net exchange differences 70 70 140
At March 31 $ 14,883 $ 10,323 $ 25,206
At March 31
Cost $ 14,883 $ 10,323 $ 25,206
Goodwill arose from Buynow segment of the Group.
Details of amortization on intangible assets are as follows:
----- End of picture text -----

(11)	Other non-current assets Administrative expenses Research and development expenses Prepayments for construction Restricted bank deposits Guarantee deposits paid Others	March31,2022 March31,2021 1,297 $ 1,203 $ 765 1,554 2,062 $ 2,757 $ Three-month period ended March 31, 2022 December 31,2021 March 31, 2021 2,096,570 $ 1,961,414 $ 1,730,129 $ 1,016,672 1,018,549 1,016,887 43,753 43,161 45,415 355,661 236,490 347,130 3,512,656 $ 3,259,614 $ 3,139,561 $	March31,2022 March31,2021 1,297 $ 1,203 $ 765 1,554 2,062 $ 2,757 $ Three-month period ended March 31, 2022 December 31,2021 March 31, 2021 2,096,570 $ 1,961,414 $ 1,730,129 $ 1,016,672 1,018,549 1,016,887 43,753 43,161 45,415 355,661 236,490 347,130 3,512,656 $ 3,259,614 $ 3,139,561 $
			1,730,129 $ 1,016,887 45,415 347,130
			3,139,561 $

Information on the amount of borrowing costs capitalised as part of prepayments for construction and the range of the interest rates for such capitalisation is provided in Note 6(9)D.

(12) Short-term borrowings

Type of borrowings Bank borrowings Secured borrowings Unsecured borrowing	March31,2022 202,107 $ 4,971,424 5,173,531 $	Interest rate range Collateral 4.00%~4.12% Investment property 0.75%~1.35% Promissory note	Collateral

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

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 March 31, 2021 Interest rate range Collateral
Bank borrowings
Secured borrowings $ 172,071 4.25%~4.40% Investment property
Secured borrowing 777,750 0.59%~0.80 Time deposits pledged
Unsecured borrowings 7,508,184 0.68%~1.00% Promissory note
$ 8,458,005
Bonds payable
March 31, 2022 December 31, 2021 March 31, 2021
Secured bonds payable $ 5,000,000 $ 5,000,000 $ 5,000,000
----- End of picture text -----

(13) Bonds payable

A. On August 22, 2019, Clevo Co. issued the first domestic secured bonds of $5,000,000, as approved by the regulatory authority. As of March 31, 2022, the outstanding bonds payable was $5,000,000.
B. The terms of the secured bonds are as follows:

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

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- (14) Long term borrowings

Long-term	borrowings
Type of	Borrowing period	Interest rate				March 31,
borrowings	and repayment term	range	Collateral			2022
Unsecured	Borrowing period is from March 19, 2021 to	0.52%~1.12%	Promissory note		$	5,710,000
borrowings	December 17, 2026; interest is payable
	monthly, principal is payable at maturity date
Unsecured borrowings	Borrowing period is from December 28, 2018 to December 28, 2023; interest is payable	1.20%~1.80%	Promissory note			4,800,000
	monthly, principal is payable in installments
Unsecured borrowings	Borrowing period is from December 28, 2018 to December 28, 2023; interest is payable	0.64%~1.27%	Promissory note			603,203
	quarterly, principal is payable at maturity date
						11,113,203
Secured	Borrowing period is from August 18, 2018 to	5.10%	Property, plant and			1,372,889
borrowings	August 17, 2028; interest is payable quarterly,		equipment and
	principal is payable in installments		investment property
Secured	Borrowing period is from June 8, 2015 to June	4.68%~5.03%	Investment property			3,719,949
borrowings	4, 2026; interest is payable monthly, principal
	is payable in installments
Secured	Borrowing period is from October 31, 2019 to	4.65%~5.25%	Investment property			4,194,870
borrowings	December 6, 2026; interest is payable
	quarterly, principal is payable in installments
Secured	Borrowing period is from December 28, 2021	0.64%~1.92%	Investment property			1,088,309
borrowings	to March 29, 2027; interest is payable
	quarterly, principal is payable at maturity date
Secured borrowings	Borrowing period is from December 28, 2021 to December 28, 2023; interest is payable quarterly, principal is payable at maturity date	0.64%	Right-of-use assets and property, plant and equipment			288,500
						10,664,517
						21,777,720
Less: Current	portion of long-term loans			(		4,436,144)
					$	17,341,576

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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 and investment property Investment property Investment property Investment property Right-of-use assets 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	Borrowing period	Interest rate
borrowings	and repayment term	range	Collateral		Mrach31,2021
Unsecured	Borrowing period is from December 30, 2020	0.52%~1.06%	Promissory note	$	4,242,343
borrowings	to August 24, 2021; interest is payable
	monthly, principal is payable in installments
Unsecured borrowings	Borrowing period is from December 28, 2018 to December 28, 2023; interest is payable	1.03%~1.797%	Promissory note		5,957,143
	monthly, principal is payable in installments
Unsecured	Borrowing period is from April 17, 2020 to	0.74%~0.91%	Promissory note		285,976
borrowings	April 16, 2022; interest is payable quarterly,
	principal is payable at maturity date
					10,485,462
Secured	Borrowing period is from March 20, 2018 to	1.05%	Property, plant and		1,250,000
borrowings	March 20, 2023; interest is payable monthly,		equipment and
	principal is payable at maturity date		investment property
Secured	Borrowing period is from June 22, 2020 to	5.22%	Investment property		13,874
borrowings	August 19, 2021; interest is payable monthly,
	principal is payable at maturity date
Secured	Borrowing period is from August 18, 2018 to	5.30%	Property, plant and		1,408,995
borrowings	August 17, 2028; interest is payable quarterly,		equipment and
	principal is payable at maturity date		investment property
Secured	Borrowing period is from June 8, 2015 to May	4.77%~5.25%	Investment property		4,541,713
borrowings	20, 2025; interest is payable monthly,
	principal is payable in installments
Secured	Borrowing period is from February 4, 2017 to	4.80%~5.45%	Investment property		3,831,404
borrowings	December 6, 2026; interest is payable
	quarterly, principal is payable in installments
Secured	Borrowing period is from April 17, 2020 to	0.74%~0.89%	Investment property		689,213
borrowings	April 16, 2022; interest is payable quarterly,
	principal is payable at maturity date
Secured	Borrowing period is from April 17, 2020 to	0.74%~0.91%	Right-of-use assets		176,003
borrowings	April 16, 2022; interest is payable quarterly,		and property, plant
	principal is payable at maturity date		and equipment
					11,911,202
					22,396,664
Less: Current portion of long-term loans				(	4,720,379)
				$	17,676,285

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(15) 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) For the aforementioned pension plan, the Group recognised pension costs of $2,336 and $0 for the three-month periods ended March 31, 2022 and 2021, respectively.
(c) Expected contributions to the defined benefit pension plans of the Group for the year ending December 31, 2023 amount to $9,485.
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 threemonth periods ended March 31, 2022 and 2021 were $8,898 and $8,946, respectively.

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(16) Provisions

					Warranty	Warranty	Warranty
					2022		2021
At January 1				$	58,523		$	53,523
Additional provisions					16,188			17,572
Used during the period			(		16,188)	(		17,572)
At March 31				$	58,523		$	53,523
Analysis of total provisions:
		March31,2022		December31,2021			March31,	2021
Current	$	58,523		$	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.

(17) Share capital

A. As of March 31, 2022, the Company’s authorised capital was $9,000,000 and the paid-in capital was $6,422,630, consisting of 642,263 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:

At January 1 Shares retired At March 31	2022 585,216 - 585,216	2021 595,216 -
		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	Reason for reacquisition	March31,2022
		Numberofshares	Carrying amount
The Company Subsidiary-Kapok Computer Subsidiary-Clevo Investment	To be reissued to employees Long-term investment Long-term investment	30,000 thousand 16,966 thousand 10,081 thousand	$ 945,780 95,306 108,182

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December 31, 2021

Name of company holding Reason for the shares reacquisition Number of shares Carrying amount The Company To be reissued to 37,500 thousand $ 1,171,347 employees Subsidiary-Kapok Computer Long-term investment 16,966 thousand 95,306 Subsidiary-Clevo Investment Long-term investment 10,081 thousand 108,182 March 31, 2021 Name of company holding Reason for the shares reacquisition Number of shares Carrying amount The Company To be reissued to 47,500 thousand $ 1,450,203 employees Subsidiary-Kapok Computer Long-term investment 16,966 thousand 95,306 Subsidiary-Clevo Investment Long-term investment 10,081 thousand 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 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.
(18) 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.

(19) 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

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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.
(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.

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E. The appropriations of 2021 and 2020 earnings as resolved by the shareholders on March 28, 2022 and August 26, 2021 are as follows:

Amount Dividends per share (in dollars) Legal reserve 302,123 $ Set aside (reversal of) special reserve 493,824) ( Cash dividends 1,285,752 2.1 $ 1,094,051 $ 2021		Amount Dividends per share (in dollars) 77,323 $ 507,614 373,358 0.6 $ 958,295 $ 2020

The above appropriations of 2020 earnings are the same with those approved by the Board of Directors on March 26, 2021.

(20) Other equity items

Directors on March 26, 2021. Other equity items
At January 1 Transferred to retained earnings Currency translation differences: –Group –Associates –Tax on associates At March 31 At January 1 Currency translation differences: –Group –Associates –Tax on associates At March 31		2022
		Currency translation		Total 4,628,787) ($ 1,882,859 65,021 13,004) ( 2,693,911) ($
		4,628,787) ($ 1,882,859 65,021 13,004) ( 2,693,911) ($ 2021
	Currency translation		Revaluation	Total
	4,948,933) ($ 330,558 19,889 3,978) ( 4,602,464) ($		20,922 $ - - - 20,922 $	4,928,011) ($ 330,558 19,889 3,978) ( 4,581,542) ($

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(21) Operating revenue

Operating revenue
		Three-month	period ended
		March31,2022		March31,2021
Revenue from contracts with customers
-Sales revenue of computer products	$	5,439,202	$	4,706,487
-Sales revenue of computer peripherals		197,484		47,607
-Land development and resale		20,982		62,441
-Hotel revenue		-		2,858
-Other revenue		108,437		136,121
Others-rental revenue		637,904		648,415
	$	6,404,009	$	5,603,929

A. Disaggregation of revenue from contracts with customers

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

Computer Segment Buynow Plaza

Three-month period ended March31,2022	Computerproducts 9,273,888 $ 3,834,686) ( 5,439,202 $ 5,439,202 $	Land development and resale 20,982 $ - 20,982 $ 20,982 $	Computer peripherals 197,484 $ - 197,484 $ 197,484 $	Others	Total
Total segment revenue Inter-segment revenue Revenue from external customer contracts Timing of revenue recognition At a point in time				108,437 $ - 108,437 $ 108,437 $	9,600,791 $ 3,834,686) ( 5,766,105 $ 5,766,105 $

Three-month period ended March31,2021	Computer Segment		Buynow Plaza	Buynow Plaza		Total	Total
	Computer products	Land development and resale	Hotel accommodations revenue	Computer peripherals 47,607 $ - 47,607 $ 47,607 $ - 47,607 $	Others
Total segment revenue Inter-segment revenue Revenue from external customer contracts Timing of revenue recognition At a point in time Over time	7,985,708 $ 3,279,221) ( 4,706,487 $ 4,706,487 $ - 4,706,487 $	62,441 $ - 62,441 $ 62,441 $ - 62,441 $	2,858 $ - 2,858 $ - $ 2,858 2,858 $		136,121 $ - 136,121 $ 136,121 $ - 136,121 $	8,234,735 $ 3,279,221) ( 4,955,514 $ 4,952,656 $ 2,858 4,955,514 $
							4,955,514 $
							4,952,656 $ 2,858
							4,955,514 $

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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.
C. Contract liabilities

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

Contract liabilities: Contract liabilities – Advance sales receipts Contract liabilities – Advance real estate receipts	March31,2022 $ 52,782 25,687 78,469 $	December31,2021 $ 45,890 42,263 88,153 $	March31,2021 January1,2021 $ 238,560 67,608 $ 153,144 112,028 391,704 $ 179,636 $

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

period
Revenue recognised that was included in the contract liability balance at the beginning of the period Advance sales receipts Advance real estate receipts	Three-month period ended
	March 31, 2022 12,020 $ 19,149 31,169 $	March31,2021
		62,219 $ 28,710
		90,929 $

(22) Interest income

Interest income from bank deposits

	Three-month	period ended
March	31,2022	March 31, 2021
$	2,148	8,960 $

(23) Other income

Interest income Other income Interest income from bank deposits	March31,2022 March 31, 2021 2,148 $ 8,960 $ Three-month period ended	March31,2022 March 31, 2021 2,148 $ 8,960 $ Three-month period ended
Dividend income Rent income Other income	Three-monthperiod ended
	March31,2022 1,442 $ 990 53,237 55,669 $	March31,2021
		- $ 15,651 17,079
		32,730 $

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(24) Other gains and losses

Other gains and losses
			Three-month	period ended
			March31,2022		March31,2021
Foreign exchange gains (losses)		$	288,670	($	77,137)
Losses on disposals of intangible assets			-	(	2,882)
Fee expense arising from financial liabilities not at	(		875)	(	4,129)
fair value through profit or loss
Losses on disposals of property, plant and	(		1,114)	(	90)
equipment
(Losses) gains on financial assets (liabilities) at fair	(		3,273)		88,054
value through profit or loss
Fee expense arising from trust and fiduciary services	(		3,383)		-
Losses on fair value adjustment, investment	(		13,866)		-
property
Losses on disposals of investments	(		25,508)	(	4,850)
Other losses	(		840)	(	3,134)
		$	239,811	($	4,168)

(25) Finance costs

			Three-month	period ended	period ended
			March31,2022		March31,	2021
Bank borrowings		$	185,723		$	205,957
Less: Capitalisation of qualifying assets	(		35,626)	(		44,379)
		$	150,097		$	161,578
Interest expense on lease liabilities			2,025			1,399
Interest expense		$	152,122		$	162,977

(26) Expenses by nature

Expenses by nature
Employee benefit expense Depreciation charges on property, plant and equipment Depreciation charges on right-of-use assets Amortisation charges on intangible assets Operating costs and expenses	Three-monthperiod ended
	March31,2022 556,396 $ 41,543 19,706 2,062 619,707 $	March31,2021
		544,325 $ 46,372 16,956 2,757
		610,410 $

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(27) Employee benefit expense

Wages and salaries Labour and health insurance fees Pension costs Other personnel expenses	March31,2022 March31,2021 465,222 $ 456,084 $ 14,648 14,536 11,234 8,946 65,292 64,759 556,396 $ 544,325 $ Three-monthperiod ended

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 three-month period ended March 31, 2022 and 2021, employees’ compensation were accrued $60,000 and $56,500, respectively; while directors’ and supervisors’ remuneration were accrued $4,500 and $3,500, respectively. The aforementioned amounts were recognised in salary expenses.

For the three-month period ended March 31, 2022, 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 2021 as resolved by the Board of Directors were in agreement with those amounts recognised in the 2021 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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(28) Income tax

A. Income tax expense

(a) Components of income tax expense:

e tax ome tax expense Components of income tax expense:
Current tax: Current tax on profits for the period Total current tax Deferred tax: Origination and reversal of temporary differences Total deferred tax Income tax expense	Three-monthperiod ended
	March31,2022 122,726 $ 122,726 62,865 62,865 185,591 $	March31,2021
		50,835 $
		50,835
		64,440
		64,440
		115,275 $

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

follows:
		Three-month	period ended
	March	31,2022	March31,	2021
Currency translation differences	($	13,004)	($	3,978)

B. The Company’s income tax returns through 2020 have been assessed and approved by the Tax Authority.

(29) Earnings per share

Weighted average number of ordinary shares outstanding Amount aftertax (sharesinthousands) Basic earnings per share Profit attributable to ordinary 593,463 $ 585,216 shareholders of the parent Diluted earnings per share Profit attributable to ordinary 593,463 $ 585,216 shareholders of the parent Assumed conversion of all dilutive potential ordinary shares Employees’ bonus - 7,460 Profit attributable to ordinary shareholders of the parent plus assumed conversion of all dilutive potential ordinary shares 593,463 $ 592,676 Three-monthperiod ended March	Three-monthperiod ended March	31,2022
		Earnings per share (indollars)
		1.01 $
		1.00 $

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

Three-month period ended March 31, 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 $ 320,044 595,216 $ 0.54
shareholders of the parent
Diluted earnings per share
Profit attributable to ordinary $ 320,044 595,216
shareholders of the parent
Assumed conversion of all dilutive
potential ordinary shares
Employees’ bonus - 4,950
Profit attributable to ordinary
shareholders of the parent plus
assumed conversion of all dilutive
potential ordinary shares $ 320,044 600,166 $ 0.53
----- End of picture text -----

(30) Supplemental cash flow information

A. Investing activities with partial cash payments

			Three-month	period ended
			March31,2022	March31,	2021
Purchase of property, plant and equipment		$	12,455	$	9,004
Add: Opening balance of payable			263,725		386,727
Ending balance of prepayment			57,494		6,267
Less: Ending balance of payable	(		264,130)	(	353,554)
Opening balance of prepayment	(		3,896)	(	3,139)
Capitalisation of interest			-	(	10,352)
Cash paid during the period		$	65,648	$	34,953
Purchase of investment property		$	13,947	$	10,646
Add: Opening balance of payable			31,257		88,173
Less: Ending balance of payable	(		10,698)	(	13,672)
Cash paid during the period		$	34,506	$	85,147

B. Financing activities with no cash flow effects

Cash dividends	Three-monthperiod ended	Three-monthperiod ended
	March31,2022 1,285,752 $	March31,2021
		373,358 $

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(31) Changes in liabilities from financing activities

2022

			2022	2022	2022	2022
At January 1 Changes in cash flow from financing activities Impact of changes in foreign exchange rate Changes in other non-cash items At March 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 March 31	Short-term borrowings Long-term borrowings 4,746,423 $ 21,670,347 $ 388,747 263,830) ( 38,361 371,203 - - 5,173,531 $ 21,777,720 $		Bonds payable Lease liabilities Liabilities from financing activities- gross 5,000,000 $ 284,024 $ 31,700,794 $ - 14,023) ( 110,894 - 3,981 413,545 - 177,659 177,659 5,000,000 $ 451,641 $ 32,402,892 $ 2021


	Short-term borrowings	Long-term borrowings 24,690,915 $ 2,376,023) ( 81,772 - 22,396,664 $		Bonds payable	Lease liabilities	Liabilities from financing activities- gross
	6,856,140 $ 1,557,608 44,257 - 8,458,005 $			5,000,000 $ - - - 5,000,000 $	112,268 $ 3,968) ( 611) ( 1,399 109,088 $	36,659,323 $ 822,383) ( 125,418 1,399 35,963,757 $

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7. RELATED PARTY TRANSACTIONS

(1) Names of related parties and relationship

Names of related parties

Relationship with the Company

Kent Hsu Chairman Chicony Electronics (Suzhou) Co., Ltd. Other related party Chicony Power Technology Co., Ltd. Other related party Honghui Real Estate Company Other related party Chicony Dalu Enterprise (Chengdu) Co., Ltd. Associate Chicony Square (Wuhan) Inc. Associate Chicony Industry (Wuhan) Co., Ltd. Associate Chicony Square (Wuhan) Inc. Associate Chicony Square (Cayman) Inc. Associate Epoque Corporation Same chairman Hon Hui Si Yuan Co., Ltd. Same chairman Taipei Twin Corporation Entity with joint control over this entity

(2) Significant related party transactions

A. Operating revenue

nificant related party transactions Operating revenue
Sales of goods: -Entity with joint control over this entity Sales of services: -Other related parties	Three-month period ended
	March31,2022 March 31, 2021 501 $ 466 $ - 2,466 501 $ 2,932 $

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

B. Purchases

Sales of goods: -Other related parties	Three-monthperiod ended	Three-monthperiod ended
	March31,2022 308,016 $	March31,2021
		273,318 $

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.

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C. Payables to related parties

Payables to related parties
March31,2022 Accounts payable: Chicony Electronics (Suzhou) Co., Ltd. 234,887 $ Chicony Power Technology Co., Ltd. 145,262 380,149 $	December31,2021 237,004 $ 110,984 347,988 $	March31,2021 212,604 $ 115,940
		328,544 $

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)

March 31, 2022 December 31, 2021 March 31, 2021 Other receivables - dividends: - － $ 493,946 $ 478,389 $ CHICONY SQUARE (WUHAN) INC. Other receivables - property transactions: - - Chicony Industry (Wuhan) 216,769 Co., Ltd. Chicony Dalu Enterprise - - 14,610 (Chengdu) Co., Ltd. $ 493,946 $ 478,389 $ 231,379

The receivables from related parties arise mainly from dividends received from investments 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. Loans from related parties

Loans from related parties

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==> picture [455 x 58] intentionally omitted <==

The loans from associates are payable at maturity within 1~5 years after the loan is made and carry interest at 0% and 0%~4.35% per annum for the three-month periods ended March 31, 2022 and 2021, respectively. The amount of interest payable (recognised as other payables) as of March 31, 2022, December 31, 2021 and March 31, 2021 was $0. Additionally, interest expense recognised for the three-month periods ended March 31, 2022 and 2021 were $0 and $1,936, respectively.

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G. Lease transactions - lessee

(a) The Group leased buildings from Hon Hui Si Yuan Co., Ltd. and Honghui Real Estate Company in February 2022 and January 2021. Rental contracts are typically made for a period of 3~5 years. The lease is subject to IFRS 16 as the usage of lease was included in the operating plan. Rents are paid to Hon Hui Si Yuan Co., Ltd. and Honghui Real Estate Company at the beginning and end of the month.
(b) Acquisition of right-of-use assets:

beginning and end of the month. Acquisition of right-of-use assets:
	Three-month	period ended
	March31,2022	March31,2021
Hon Hui Si Yuan Co., Ltd.	175,634 $	- $

(c) Lease liabilities
(i) Outstanding balance:

ease liabilities ) Outstanding balance:
March 31, 2022 Hon Hui Si Yuan Co., Ltd. 175,634 $ Honghui Real Estate Company 38,985 214,619 $	December31,2021 - $ 41,517 41,517 $	March31,2021
		- $ 52,930
		52,930 $

(ii) Interest expense

Interest expense
Honghui Real Estate Company	Three-monthperiod ended
	March31,2022 518 $	March31,2021
		694 $

H. Others

(a) The joint guarantor and co-issuer of the guarantee notes of bank borrowings is Kent Hsu for the three-month periods ended March 31, 2022 and 2021.
(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	Three-monthperiod ended
	March31,2022 23,218 $ 312 23,530 $	March31,2021
		18,025 $ 311
		18,336 $

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8. PLEDGED ASSETS

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

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

Book value
Pledged asset March 31, 2022 December 31, 2021 March 31, 2021 Purpose
STANDBY L/C,
Financial assets at amortised cost long-term and
(current and non- current) $ 29,288 $ 28,230 $ 647,220 short-term borrowings
Restricted bank deposits- current 98,756 65,397 62,346 Short-term borrowings
Corporate bonds payable
Restricted bank deposits - non-current 1,016,672 1,018,549 1,016,887 and long term borrowings
Property, plant and equipment
(non-depreciated balance) 1,212,785 1,195,560 2,723,413 Long-term borrowings
Investment property and right-of-use Long-term and
asset 52,323,693 52,344,330 56,565,026 short-term borrowings
$ 54,681,194 $ 54,652,066 $ 61,014,892
----- End of picture text -----

9. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNISED CONTRACT

COMMITMENTS

(1) Contingencies

None.

(2) Commitments

A. As of March 31, 2022, December 31, 2021 and March 31, 2021, the Company issued guarantee notes amounting to $22,803,225, $22,710,525 and $25,044,367, 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 March 31, 2022, December 31, 2021 and March 31, 2021, the Group’s total contract prices for signed construction contracts amounted to $8,799,901, $8,491,448 and $8,190,135, of which $7,951,635, $7,667,993 and $7,447,312 were paid and $848,266, $823,455 and $742,823 remain unpaid, respectively.

10. SIGNIFICANT DISASTER LOSS

None.

11. SIGNIFICANT EVENTS AFTER THE BALANCE SHEET DATE

To cooperate with local government’s prevention measures, the operations of the Group’s subsidiaries in Kunshan have been affected since April 8, 2022 due to the Covid-19 outbreak, and those subsidiaries in Kunshan have adopted appropriate countermeasures. However, the overall impact to the Group is depending on the subsequent control over the epidemic, and no reasonable estimation was made currently.

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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 three-month period ended March 31, 2022, the Group’s strategy, which was unchanged from 2021, was to maintain the gearing ratio within 40% to 60%. The gearing ratios at March 31, 2022, December 31, 2021 and March 31, 2021 were as follows:

			March31,2022		December31,2021	December31,2021			March31,2021
Total borrowings		$	31,951,251		$	31,416,770		$	35,854,669
Less: Cash and cash
equivalents	(		2,743,919)	(		3,816,041)	(		3,426,658)
Net debt			29,207,332			27,600,729			32,428,011
Total equity			42,553,891			41,310,424			40,172,293
Total capital		$	71,761,223		$	68,911,153		$	72,600,304
Gearing ratio			41%			40%			45%

(2) Financial instruments

A. 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 amortised cost Lease liability	March31,2022 3,060,992 $ 8,530,063 11,591,055 $ 38,300,543 $ 451,641 $	December31,2021 2,530,073 $ 8,925,923 11,455,996 $ 36,576,456 $ 284,024 $	March31,2021
			2,005,785 $ 8,276,436
			10,282,221 $
			40,968,338 $
			109,088 $

Note: Financial assets at amortised cost include cash and cash equivalents, accounts receivable, other receivables, guarantee deposits paid, time deposits unqualified as cash equivalents

~96~

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 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:

~97~

March 31, 2022

March31,2022	March31,2022	March31,2022
Foreign currency amount (In thousands) Exchange rate Book value (NTD) Financial assets Monetary items USD:NTD 307,920 $ 28.58 8,800,354 $ USD:RMB 2,590 6.35 74,009 RMB:NTD 3,654 4.50 16,443 Investments accounted for using the equity method USD:NTD 62,330 28.58 1,781,397 Financial liabilities Monetary items USD:NTD 13,641 28.58 389,860 USD:RMB 229,582 6.35 6,560,306 (Foreign currency: functional currency) 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)
	Exchange rate 27.68 6.38 4.34 27.68 27.68 6.38
		7,729,169 $ 63,214 15,854 1,681,896 720,870 6,234,390

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December 31, 2021

	Foreign currency	Foreign currency
		amount				Book value
	(In	thousands)	Exchangerate			(NTD)
(Foreign currency: functional	currency)
Financial assets
Monetary items
USD:NTD	$	210,539		28.49	$	5,998,256
USD:RMB		2,723		6.57		77,643
RMB:NTD		5,878		4.34		25,511
Investments accounted for
using the equity method
USD:NTD		88,320		28.49		2,516,234
Financial liabilities
Monetary items
USD:NTD		97,220		28.49		2,769,798
USD:RMB		244,980		6.57		6,985,311

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 three-month periods ended March 31, 2022 and 2021 amounted to $288,670 and ($77,137), respectively.
vi. Analysis of foreign currency market risk arising from significant foreign exchange variation:

variation:
Degree of variation Effect on profit or loss Effect on other comprehensive income Financial assets Monetary items USD:NTD 1% 70,403 $ - $ USD:RMB 1% 592 - RMB:NTD 1% 132 - Financial liabilities Monetary items USD:NTD 1% 3,119 - USD:RMB 1% 52,482 - Three-month period ended March 31, 2022 Sensitivity analysis (Foreign currency: functional currency)	Three-month period ended March 31, 2022
		Sensitivity analysis
	Degree of variation	Effect on profit or loss	Effect on other comprehensive income
		70,403 $ 592 132 3,119 52,482	- $ - - - -

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Three-month period ended March 31, 2021

Sensitivity analysis

					Effect on other
	Degree of		Effect on		comprehensive
	variation	profit or loss			income
(Foreign currency: functional currency)
Financial assets
Monetary items
USD:NTD	1%	$	47,986	$	-
USD:RMB	1%		621		-
RMB:NTD	1%		204		-
Financial liabilities
Monetary items
USD:NTD	1%		22,158		-
USD:RMB	1%		55,882		-

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 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 three-month periods ended March 31, 2022 and 2021 would have increased/decreased by $29,736 and $19,184, 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 three-month periods ended March 31, 2022 and 2021, 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 three-month periods ended March 31, 2022 and 2021 would have decreased/increased by $209,753 and $240,492, respectively. The main factor

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is that changes in interest expense result from floating rate borrowings.

(b) Credit risk
i.Credit risk refers to the risk of financial loss to the Group arising from default by the clients or counterparties of financial instruments on the contract obligations. The main factor is that counterparties could not repay in full the accounts receivable based on the agreed terms, and the contract cash flows of debt instruments stated at amortized cost.
ii.According to the Group’s credit policy, each local entity in the Group is responsible for managing and analyzing the credit risk for each of their new clients before standard payment and delivery terms and conditions are offered. Internal risk control assesses the credit quality of the customers, taking into account their financial position, past experience and other factors.
iii.Individual risk limits are set based on internal or external ratings in accordance with limits set by the credit department. The utilization of credit limits is regularly monitored.
iv.For banks and financial institutions, only independently rated parties with a best rating are accepted.
v.The Group adopts the following assumptions under IFRS 9 to access whether there has been a significant increase in credit risk on that instrument since initial recognition:
(i) If the contract payments were past due over 30 days based on the terms, there has been a significant increase in credit risk on that instrument since initial recognition.
(ii) For investments in bonds that are traded over the counter, if any external credit rating agency rates these bonds as investment grade, the credit risk of these financial assets is low.
vi.The Group adopts the assumption under IFRS 9, that is, the default occurs when the contract payments are past due over 90 days.
vii.The following indicators are used to determine whether the credit impairment of debt instruments has occurred:
(i) It becomes probable that the issuer will enter bankruptcy or other financial reorganization due to their financial difficulties;
(ii) The disappearance of an active market for that financial asset because of financial difficulties;
(iii) Default or delinquency in interest or principal repayments;
(iv) Adverse changes in national or regional economic conditions that are expected to cause a default.
viii.The Group classifies customer’s accounts receivable in accordance with customer types. The Group applies the modified approach using 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

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executing the recourse procedures to secure their rights. On March 31, 2022, December 31, 2021 and March 31, 2021, 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 March 31, 2022, December 31, 2021 and March 31, 2021, the provision matrix is as follows:

follows:
March31,2022 Expected loss rate Total book value Loss allowance Expected loss rate Total book value Loss allowance December31,2021	Not past due	1~90 days past due	91~180 days past due
	0.04%~6.83% 2,527,057 $ 805 181~270 days past due	0.06%~38.67% 1,114,094 $ 2,892 Over 270 days	7.40%~57.81% 35,317 $ 1,817 Total
	65.39%~100% 47,664 $ 5,954 Not past due	100% 45,888 $ 45,888 1~90 days past due	3,770,020 $ 57,356 91~180 days past due
Expected loss rate Total book value Loss allowance Expected loss rate Total book value Loss allowance March 31, 2021 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 270 days	7.59%~57.31% 35,704 $ 965 Total
	63.46%~100% 27,646 $ 4,450 Not past due	100% 35,337 $ 35,337 1~90 days past due	3,470,290 $ 43,889 91~180 days past due
	0.04%~7.61% 2,274,194 $ 735 181~270 days past due	0.06%~32.60% 341,631 $ 190 Over 270 days	8.03%~54.01% 19,173 $ 1,107 Total
	77.13%~100% 25,865 $ 2,866	100% 34,652 $ 34,652	2,695,515 $ 39,550

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

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		2022		2021
	Accountsreceivable		Accountsreceivable
At January 1	$	43,889	$	39,268
Provision for impairment		12,086		247
Effect of foreign exchange		1,381		35
At March 31	$	57,356	$	39,550

(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.

March31,2022	Less than 1 year	Between 1 and2years	Between 2 and 5 years	Over5 years
		131,443 $ 40,000 9,245,589 657,754 - Between 1 and2years	160,728 $ 5,016,000 7,399,194 - 402,908 Between 2 and 5 years	76,162 $ - 1,172,277 - - Over5 years
		70,390 $ 40,000 9,473,343 653,375 348,705	116,958 $ 5,025,973 7,984,000 - 41,513	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
March 31, 2021 year and 2 years and 5 years Over 5 years
Non-derivative financial liabilities
----- End of picture text -----

Lease liability	21,378	21,424	33,790	77,427
Bonds payable	40,000	40,000	5,056,222	-
Long-term borrowings	4,858,260	7,634,009	8,762,635	1,795,957
(including current portion)
Guarantee deposits	-	644,991	-	-
received
Long-term accounts	-	358,961	-	42,734
payable to related parties

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.
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 March 31, 2022, December 31, 2021 and March 31, 2021 is as follows:

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

March31,2022 Assets Financial assets at fair value through profit or loss Equity securities Forward foreign exchange contracts Beneficiary certificates Investment property (Note) Recurring fair value measurements December 31, 2021 Assets Recurring fair value measurements	Level 2 - $ 8,664 1,627,360 - 1,636,024 $ Level 2 - $ 2,727 1,353,068 - 1,355,795 $ Level 2 - $ 16,279 1,100,070 - 1,116,349 $	Level3 - $ $ - - 64,717,108 64,717,108 $ $ Level3 - $ - - 62,408,602 62,408,602 $ Level3 - $ - - 64,070,966 64,070,966 $	Level3 - $ $ - - 64,717,108 64,717,108 $ $ Level3 - $ - - 62,408,602 62,408,602 $ Level3 - $ - - 64,070,966 64,070,966 $	$	Total 1,262,180 8,664 1,790,148 64,717,108 67,778,100 Total 1,104,878 $ 2,727 1,422,468 62,408,602 64,938,675 $ Total 781,014 $ 16,279 1,208,492 64,070,966 66,076,751 $
				$

		- $ - - 62,408,602
Financial assets at fair value through profit or loss Equity securities Forward foreign exchange contracts Beneficiary certificates Investment property (Note 1) March31,2021 Assets Recurring fair value measurements
		62,408,602 $
			Level3
	- $ 16,279 1,100,070 -				781,014 $ 16,279 1,208,492 64,070,966
Financial assets at fair value through profit or loss Equity securities Forward foreign exchange contracts Beneficiary certificates Investment property (Note)
	1,116,349 $				66,076,751 $

Note: 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:

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

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 three-month periods ended March 31, 2022 and 2021, there was no transfer between Level 1 and Level 2.
E. The movement of Level 3 of investment property for the three-month periods ended March 31, 2022 and 2021 is provided in Note 6(9).
F. For the three-month periods ended March 31, 2022 and 2021, there was no transfer into or out

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from Level 3.

G. Financial and Administrative segment is in charge of valuation procedures for fair value measurements being categorised within Level 3 (investment property), which is based on the valuation methods and assumptions announced by the Financial Supervisory Commission, Securities and Futures Bureau or through outsourced appraisal performed by the external valuer. The Group sets up valuation policies, valuation processes, and rules for measuring fair value of investment property and ensures compliance with the related requirements in IFRS.
H. The following is the qualitative information on significant unobservable inputs and sensitivity analysis of changes in significant unobservable inputs to valuation model used in Level 3 fair value measurement:

Fair value at March 31, 2022	Valuation technique	Significant unobservable input	Range (weighted average)	Relationship of inputs to fair value
64,717,108 $ Fair value at December 31, 2021	Income approach of discounted cash flow method Valuation technique	Long-term rent revenue growth rate and discount rate Significant unobservable input	(Note) Range (weighted average) (Note) Range (weighted average)	The higher the long- term rent revenue growth rate, the higher the fair value; The higher the discount rate, the lower the fair value Relationship of inputs tofairvalue
62,408,602 $ Fair value at March 31, 2021	Income approach of discounted cash flow method Valuation technique	Long-term rent revenue growth rate and discount rate Significant unobservable input		The higher the long- term rent revenue growth rate, the higher the fair value; The higher the discount rate, the lower the fair value Relationship of inputs tofairvalue
64,070,966 $	Income approach of discounted cash flow method	Long-term rent revenue growth rate and discount rate	(Note)	The higher the long- term rent revenue growth rate, the higher the fair value; The higher the discount rate, the lower the fair value

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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 to table 4.
F. Disposal of real estate reaching $300 million or 20% of paid-in capital or more: None.
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 5.
H. Receivables from related parties reaching $100 million or 20% of paid-in capital or more: Please refer to table 6.
I. Trading in derivative instruments undertaken during the reporting periods: As of March 31, 2022, the Group’s open interest derivative instruments amounted to $8,664. The Group recognised net profit amounting to $11,999 on derivative instruments for the three-month periods ended March 31, 2022.
J. Significant inter-company transactions during the reporting periods: Please refer to table 7.

(2) Information on investees

Names, locations, and other information of investee companies (not including investees in Mainland China) ： Please refer to table 8.

(3) Information on investments in Mainland China

A. Basic information: Please refer to table 9.
B. Ceiling on investments in Mainland China: Please refer to table 9.
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 three-month periods ended March 31, 2022, 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.

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(4) Major shareholders information

Major shareholders information: Please refer to table 10.

14. SEGMENT INFORMATION

(1) General information

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

(2) Segment information

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

is as follows:
Three months ended March 31, 2022 Revenue from external customers Inter-segment revenue Total segment revenue External-segment income (before tax) Segment income (loss) (after tax) Three months ended March 31, 2021 Revenue from external customers Inter-segment revenue Total segment revenue External-segment income (before tax) Segment income (after tax)	Computer Segment	BuynowPlaza 964,806 $ - 964,806 $ 228,252 $ 122,764 $ BuynowPlaza 897,442 $ - 897,442 $ 195,202 $ 87,535 $	Others - $ - - $ 2,456) ($ 2,456) ($ Others - $ - - $ 2,997 $ 2,997 $	Total
	5,439,203 $ 3,834,686 9,273,889 $ 553,258 $ 473,155 $ Computer Segment 4,706,487 $ 3,279,221 7,985,708 $ 237,121 $ 229,512 $			6,404,009 $ 3,834,686
				10,238,695 $
				779,054 $
				593,463 $
				Total
				5,603,929 $ 3,279,221
				8,883,150 $
				435,320 $
				320,044 $

(3) 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 three-month periods ended March 31, 2022 and 2021 is provided as follows:

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

Three-month period ended
Income/(Loss) March 31, 2022 March 31, 2021
Reportable segments revenue $ 10,238,695 $ 8,883,150
- -
Other segments revenue
Elimination of intersegment revenue ( 3,834,686) ( 3,279,221)
Total revenue $ 6,404,009 $ 5,603,929
Three-month period ended
Income/(Loss) March 31, 2022 March 31, 2021
Reportable segments income (after tax) $ 595,919 $ 317,052
Other segments (loss) income (after tax) ( 2,456) 2,992
- -
Elimination of intersegment transactions
Income after tax from continuing operations $ 593,463 $ 320,044
----- End of picture text -----

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Table 1

Expressed in thousands of NTD

CLEVO CO. and Subsidiaries

Loans to others

Three months ended March 31, 2022

(Except as otherwise indicated)

No. (Note 1)	Creditor	Borrower	General ledger account (Note 2)	Is a related party	Maximum outstanding balance during the three months ended March 31, 2022(Note 3)	Balance at March 31,2022(Note 8)	Actual amount drawn down	Interest rate range	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
													Name	Value
1	Buynow (Hangzhou) Electronic Information Co.,Ltd.	Changsha Hungyu Business Management Co.,Ltd.	Other receivables - related parties - current	Yes	107,355 $	107,355 $	107,355 $	5.00%	2	- $	Additional operatingcapital	- $	-	- $	17,021,556 $	42,553,891 $	Note 8
1	Buynow (Hangzhou) Electronic Information Co.,Ltd.	Shanghai Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	264,360	264,360	264,360	5.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
1	Buynow (Hangzhou) Electronic Information Co.,Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	36,010	36,010	36,010	5.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
1	Buynow (Hangzhou) Electronic Information Co.,Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	47,714	47,714	47,714	5.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
1	Buynow (Hangzhou) Electronic Information Co.,Ltd.	Anshan Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	184,327	184,327	184,327	5.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
1	Buynow (Hangzhou) Electronic Information Co.,Ltd.	Guiyang Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	143,141	143,141	143,141	5.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
1	Buynow (Hangzhou) Electronic Information Co.,Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	15,754	15,754	15,754	5.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
2	Buynow (Chengdu) Electronic Information Co.,Ltd.	Buynow (Hangzhou) Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	36,010	-	-	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
2	Buynow (Chengdu) Electronic Information Co.,Ltd.	Shanghai Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	419,969	419,969	419,969	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
2	Buynow (Chengdu) Electronic Information Co.,Ltd.	Buynow (Wuxi) Electronic TechnologyDevelopment Co.,Ltd.	Other receivables - related parties - current	Yes	18,005	18,005	18,005	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
2	Buynow (Chengdu) Electronic Information Co.,Ltd.	Zibo Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	115,458	115,458	115,458	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
2	Buynow (Chengdu) Electronic Information Co.,Ltd.	Buynow Electronic Information (Huizhou)Co.,Ltd.	Other receivables - related parties - current	Yes	135,398	135,398	135,398	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
2	Buynow (Chengdu) Electronic Information Co.,Ltd.	Guangdong Buynow Real Estate Management Co.,Ltd.	Other receivables - related parties - current	Yes	28,358	-	-	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
2	Buynow (Chengdu) Electronic Information Co.,Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	126,036	126,036	126,036	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
2	Buynow (Chengdu) Electronic Information Co.,Ltd.	Guiyang Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	331,519	331,519	331,519	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
2	Buynow (Chengdu) Electronic Information Co.,Ltd.	Quanzhou Buynow Industry Co., Ltd.	Other receivables - related parties - current	Yes	47,263	42,762	42,762	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
2	Buynow (Chengdu) Electronic Information Co.,Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	36,010	36,010	36,010	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	393,187	393,187	393,187	3.70%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	168,573	168,573	168,573	3.70%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	31,959	31,959	31,959	3.70%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	35,110	35,110	35,110	3.70%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	Other receivables - related parties - current	Yes	332,869	197,831	197,831	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	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 three months ended March 31, 2022(Note 3)	Balance at March 31,2022(Note 8)	Actual amount drawn down	Interest rate range	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
													Name	Value
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Guangzhou) Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	176,900 $	176,900 $	176,900 $	4.50%	2	- $	Additional operatingcapital	- $	-	- $	17,021,556 $	42,553,891 $	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	176,990	176,990	176,990	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	668,755	668,755	668,755	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Daqing Buynow Electronic Information Corporation	Other receivables - related parties - current	Yes	100,829	100,829	100,829	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Zibo Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	91,826	91,826	91,826	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Shantou Buynow Mall Co., Ltd.	Other receivables - related parties - current	Yes	513,686	500,182	500,182	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	180,051	180,051	180,051	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Yingkou Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	85,524	85,524	85,524	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Guiyang Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	447,877	447,877	447,877	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Taizhou Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	200,757	200,757	200,757	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Dezhou Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	570,312	570,312	570,312	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Kunshan Kaishuo Trading Co., Ltd.	Other receivables - related parties - current	Yes	180,051	180,051	180,051	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	270,077	270,077	270,077	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
5	Buynow (Nanchang) Industry Co., Ltd.	Buynow (Hangzhou) Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	160,696	61,667	61,667	5.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
5	Buynow (Nanchang) Industry Co., Ltd.	Buynow (Guangzhou) Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	65,944	65,944	65,944	5.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
5	Buynow (Nanchang) Industry Co., Ltd.	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Other receivables - related parties - current	Yes	33,760	33,760	33,760	5.00%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
5	Buynow (Nanchang) Industry Co., Ltd.	Anshan Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	205,393	187,388	187,388	5.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
5	Buynow (Nanchang) Industry Co., Ltd.	Guiyang Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	64,458	64,458	64,458	5.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
5	Buynow (Nanchang) Industry Co., Ltd.	Taizhou Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	76,972	76,972	76,972	5.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
5	Buynow (Nanchang) Industry Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	96,867	60,857	60,857	5.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
6	Buynow (Zhengzhou) Electronic Information Co.,Ltd.	Changsha Hungyu Business Management Co.,Ltd.	Other receivables - related parties - current	Yes	93,492	88,990	88,990	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
6	Buynow (Zhengzhou) Electronic Information Co.,Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	83,904	54,646	54,646	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
6	Buynow (Zhengzhou) Electronic Information Co.,Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	72,020	72,020	72,020	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
6	Buynow (Zhengzhou) Electronic Information Co.,Ltd.	Guiyang Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	104,070	104,070	104,070	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
6	Buynow (Zhengzhou) Electronic Information Co.,Ltd.	Dezhou Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	49,514	4,501	4,501	1.65%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
6	Buynow (Zhengzhou) Electronic Information Co.,Ltd.	Luoyang Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	108,031	-	-	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
6	Buynow (Zhengzhou) Electronic Information Co.,Ltd.	Quanzhou Buynow Industry Co., Ltd.	Other receivables - related parties - current	Yes	10,083	10,083	10,083	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	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 three months ended March 31, 2022(Note 3)	Balance at March 31,2022(Note 8)	Actual amount drawn down	Interest rate range	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
													Name	Value
7	Buynow Electronic Information (Shenyang)Co.,Ltd.	Changsha Hungyu Business Management Co.,Ltd.	Other receivables - related parties - current	Yes	127,161 $	127,161 $	127,161 $	3.70%	2	- $	Additional operatingcapital	- $	-	- $	17,021,556 $	42,553,891 $	Note 8
7	Buynow Electronic Information (Shenyang)Co.,Ltd.	Zibo Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	176,900	172,399	172,399	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
7	Buynow Electronic Information (Shenyang)Co.,Ltd.	Yingkou Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	119,689	119,689	119,689	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
7	Buynow Electronic Information (Shenyang)Co.,Ltd.	Guiyang Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	37,136	37,136	37,136	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Buynow(Guangzhou) Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	70,940	70,940	70,940	3.70%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	202,783	202,783	202,783	3.70%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Daqing Buynow Electronic Information Corporation	Other receivables - related parties - current	Yes	129,592	120,589	120,589	3.70%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
9	Buynow (Changchun) Industry Co.,Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	200,307	200,307	200,307	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
9	Buynow (Changchun) Industry Co.,Ltd.	Buynow (Chongqing) Industry Co., Ltd.	Other receivables - related parties - current	Yes	4,501	-	-	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
9	Buynow (Changchun) Industry Co.,Ltd.	Taizhou Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	38,261	38,261	38,261	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
9	Buynow (Changchun) Industry Co.,Ltd.	Luoyang Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	22,506	22,506	22,506	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	79,583	79,583	79,583	5.00%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	190,179	190,179	190,179	5.00%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
11	Quality Trust Property Management Co.,Ltd.	Daqing Buynow Electronic Information Corporation	Other receivables - related parties - current	Yes	226,639	217,637	217,637	3.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
11	Quality Trust Property Management Co.,Ltd.	Luoyang Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	5,402	-	-	3.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
12	Kalor Buynow (Heifei) Electronic Information Co.,Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	228,215	228,215	228,215	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
12	Kalor Buynow (Heifei) Electronic Information Co.,Ltd.	Buynow (Harbin) Industry Co., Ltd.	Other receivables - related parties - current	Yes	239,693	239,693	239,693	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
12	Kalor Buynow (Heifei) Electronic Information Co.,Ltd.	Guangdong Buynow Real Estate Management Co.,Ltd.	Other receivables - related parties - current	Yes	67,519	49,514	49,514	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
12	Kalor Buynow (Heifei) Electronic Information Co.,Ltd.	Anshan Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	24,757	-	-	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
12	Kalor Buynow (Heifei) Electronic Information Co.,Ltd.	Luoyang Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	135,074	135,074	135,074	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
12	Kalor Buynow (Heifei) Electronic Information Co.,Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	26,107	26,107	26,107	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
13	Wuxi Quntai Property Management Co.,Ltd.	Anshan Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	27,458	27,458	27,458	3.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
14	Buynow (Chongqing) Industry Co., Ltd.	Taizhou Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	75,171	57,166	57,166	5.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
15	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	84,624	84,624	84,624	5.00%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	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 three months ended March 31, 2022(Note 3)	Balance at March 31,2022(Note 8)	Actual amount drawn down	Interest rate range	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
													Name	Value
15	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	Other receivables - related parties - current	Yes	290,737 $	290,737 $	290,737 $	5.00%	2	- $	Additional operating capital	- $	-	- $	17,021,556 $	42,553,891 $	Note 8
15	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	203,998	185,993	185,993	5.00%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
15	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	329,944	329,944	329,944	5.00%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
15	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	213,451	213,451	213,451	5.00%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
15	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Shanghai Huizhuan Restaurant Management Co., Ltd.	Other receivables - related parties - current	Yes	32,409	-	-	5.00%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
16	Tianjin Buynow Electronic Information Co.,Ltd.	Shanghai Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	162,496	162,496	162,496	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
16	Tianjin Buynow Electronic Information Co.,Ltd.	Buynow (Xian) Industry Co., Ltd.	Other receivables - related parties - current	Yes	63,918	63,918	63,918	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
16	Tianjin Buynow Electronic Information Co.,Ltd.	Qingdao Buynow Technology IndustryCo.,Ltd.	Other receivables - related parties - current	Yes	266,746	266,746	266,746	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
16	Tianjin Buynow Electronic Information Co.,Ltd.	Zibo Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	133,886	122,633	122,633	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
16	Tianjin Buynow Electronic Information Co.,Ltd.	Anshan Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	4,501	-	-	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
16	Tianjin Buynow Electronic Information Co.,Ltd.	Luoyang Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	98,983	-	-	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
17	Buynow (Yancheng) Electronoc Information Technology Development Co. Ltd.	Beijing Kaiye Electronic Technology Co., Ltd.	Other receivables - related parties - current	Yes	22,506	22,506	22,506	0.00%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
17	Buynow (Yancheng) Electronoc Information Technology Development Co. Ltd.	Daqing Buynow Electronic Information Corporation	Other receivables - related parties - current	Yes	31,509	31,509	31,509	0.00%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
17	Buynow (Yancheng) Electronoc Information Technology Development Co. Ltd.	Shantou Buynow Mall Co., Ltd.	Other receivables - related parties - current	Yes	276,153	276,153	276,153	0.00%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
17	Buynow (Yancheng) Electronoc Information Technology Development Co. Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	355,601	355,601	355,601	0.00%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
17	Buynow (Yancheng) Electronoc Information Technology Development Co. Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	Other receivables - related parties - current	Yes	25,432	25,432	25,432	0.00%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
18	Beijing Clevo Investment Management Consultant Co.,Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	Other receivables - related parties-current	Yes	299,335	290,332	290,332	5.00%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
18	Beijing Clevo Investment Management Consultant Co.,Ltd.	Buynow Electronic Information (Huizhou) Co., Ltd.	Other receivables - related parties-current	Yes	286,731	286,731	286,731	5.00%	2	-	Additional operating capital	-	-	-	17,021,556	42,553,891	Note 8
19	Guangdong Buynow Real Estate Management Co.,Ltd.	Shanghai Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	363,658	363,658	363,658	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
19	Guangdong Buynow Real Estate Management Co.,Ltd.	Buynow(Guangzhou) Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	75,576	66,574	66,574	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
19	Guangdong Buynow Real Estate Management Co.,Ltd.	Qingdao Buynow Technology IndustryCo.,Ltd.	Other receivables - related parties - current	Yes	74,091	29,078	29,078	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
19	Guangdong Buynow Real Estate Management Co.,Ltd.	Buynow Electronic Information (Huizhou)Co.,Ltd.	Other receivables - related parties - current	Yes	19,761	19,761	19,761	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
19	Guangdong Buynow Real Estate Management Co.,Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	27,008	27,008	27,008	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
19	Guangdong Buynow Real Estate Management Co.,Ltd.	Guiyang Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	249,371	249,371	249,371	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
19	Guangdong Buynow Real Estate Management Co.,Ltd.	Dezhou Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	45,013	45,013	45,013	1.65%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	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 three months ended March 31, 2022(Note 3)	Balance at March 31,2022(Note 8)	Actual amount drawn down	Interest rate range	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
													Name	Value
19	Guangdong Buynow Real Estate Management Co.,Ltd.	Luoyang Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	252,747 $	220,563 $	220,563 $	3.70%	2	- $	Additional operatingcapital	- $	-	- $	17,021,556 $	42,553,891 $	Note 8
19	Guangdong Buynow Real Estate Management Co.,Ltd.	Quanzhou Buynow Industry Co., Ltd.	Other receivables - related parties - current	Yes	84,174	84,174	84,174	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
19	Guangdong Buynow Real Estate Management Co.,Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	Other receivables - related parties - current	Yes	248,470	248,470	248,470	3.70%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
20	Shantou Buynow Mall Co., Ltd.	Buynow (Wuxi) Electronic TechnologyDevelopment Co.,Ltd.	Other receivables - related parties - current	Yes	36,010	36,010	36,010	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
20	Shantou Buynow Mall Co., Ltd.	Buynow Electronic Information (Huizhou)Co.,Ltd.	Other receivables - related parties - current	Yes	76,522	76,522	76,522	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
20	Shantou Buynow Mall Co., Ltd.	Guangdong Buynow Real Estate Management Co.,Ltd.	Other receivables - related parties - current	Yes	103,079	98,578	98,578	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
20	Shantou Buynow Mall Co., Ltd.	Clevo (China) Investment Co., Ltd.	Other receivables - related parties - current	Yes	84,174	84,174	84,174	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
20	Shantou Buynow Mall Co., Ltd.	Anshan Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	500,362	500,362	500,362	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
20	Shantou Buynow Mall Co., Ltd.	Suzhou Jinzuo Industry Co., Ltd.	Other receivables - related parties - current	Yes	308,563	268,051	268,051	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
20	Shantou Buynow Mall Co., Ltd.	Taizhou Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	105,330	105,330	105,330	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
21	Clevo (China) Investment Co., Ltd.	Shanghai Buynow Online Information TechnologyCo.,Ltd.	Other receivables - related parties - current	Yes	11,703	11,703	11,703	5.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
21	Clevo (China) Investment Co., Ltd.	Shanghai Huizhuan Restaurant Management Co.,Ltd.	Other receivables - related parties - current	Yes	1,125	-	-	0.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
22	Dezhou Buynow Electronic Information Co.,Ltd.	Buynow (Wuxi) Electronic TechnologyDevelopment Co.,Ltd.	Other receivables - related parties - current	Yes	63,018	63,018	63,018	5.00%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	Note 8
23	Kunshan Kaishuo Trading Co., Ltd.	Shanghai Buynow Electronic Information Co.,Ltd.	Other receivables - related parties - current	Yes	114,693	114,693	114,693	4.50%	2	-	Additional operatingcapital	-	-	-	17,021,556	42,553,891	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 the three months ended March 31, 2022.

Note 4: The nature of loans ：

(1) Related to business transactions is"1".
(2) short-term financing is "2".

Note 5: In accordance with the Article 4 of the Company's "Procedures for Provision of Loans" the limit 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 assets.
(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 5

Table 2

Expressed in thousands of NTD

CLEVO CO. and Subsidiaries

Provision of endorsements and guarantees to others

Three months ended March 31, 2022

Table 2	Table 2	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD
		(Except as otherwise indicated)
No. (Note 1)	Endorser/guarantor	Partybeingendorsed/guaranteed		Limit on endorsements/ guarantees provided for a single party (Note 3)	Maximum outstanding endorsement/ guarantee amount as of March 31, 2022(Note 4)	Outstanding endorsement/ guarantee amount at March 31, 2022 (Note 5)	Actual amount drawn down (Note 6)	Amount of endorsements/guara ntees secured with collateral	Ratio of accumulated endorsement/ guarantee amount to net asset value of the Endorser/guarantor company	Ceiling on total amount of endorsements/guara ntees provided (Note 3)	Provision of endorsement s/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
		Companyname	Relationship with the investor (Note 2)
1	Changsha Hungyu Business Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	42,553,891 $	794,029 $	794,029 $	699,502 $	794,029 $	1.87	42,553,891 $	N	N	Y	-
2	Buynow (Hangzhou) Electronic Information Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	42,553,891	180,052	180,052	153,044	-	0.42	42,553,891	N	N	Y	-
2	Buynow (Hangzhou) Electronic Information Co., Ltd.	Buynow (Chongqing) Industry Co., Ltd.	3	42,553,891	355,603	355,603	324,094	-	0.84	42,553,891	N	N	Y	-
2	Buynow (Hangzhou) Electronic Information Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	3	42,553,891	135,039	-	-	-	0.32	42,553,891	N	N	Y	-
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	42,553,891	1,125,325	855,247	129,335	855,247	2.64	42,553,891	N	N	Y	-
3	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	3	42,553,891	1,620,468	1,620,468	1,372,897	1,620,468	3.81	42,553,891	N	N	Y	-
3	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	42,553,891	794,029	794,029	699,502	-	1.87	42,553,891	N	N	Y	-
4	Buynow Electronic Information (Shenyang) Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	42,553,891	1,125,325	1,125,325	956,526	-	2.64	42,553,891	N	N	Y	-
5	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Quanzhou Buynow Industry Co., Ltd.	3	42,553,891	270,078	270,078	234,068	-	0.63	42,553,891	N	N	Y	-
6	Zibo Buynow Electronic Information Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	42,553,891	207,060	207,060	207,060	207,060	0.49	42,553,891	N	N	Y	-
6	Zibo Buynow Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	42,553,891	139,540	139,540	139,540	139,540	0.33	42,553,891	N	N	Y	-
7	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	3	42,553,891	450,130	450,130	67,520	450,130	1.06	42,553,891	N	N	Y	-
7	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	42,553,891	432,125	432,125	432,125	432,125	1.02	42,553,891	N	N	Y	-
8	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Kapok Computer (Kunshan) Co., Ltd.	3	42,553,891	875,566	875,566	801,231	875,566	2.06	42,553,891	N	N	Y	-
9	Buynow (Chongqing) Industry Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	42,553,891	180,052	180,052	153,044	180,052	0.42	42,553,891	N	N	Y	-
10	Buynow (Changchun) Industry Co., Ltd.	Qingdao Buynow Technology IndustryCo., Ltd.	3	42,553,891	315,091	315,091	232,717	315,091	0.74	42,553,891	N	N	Y	-
10	Buynow (Changchun) Industry Co., Ltd.	Buynow (Fujian) Electronic TechnologyDevelopment Co.,	3	42,553,891	162,047	162,047	153,044	162,047	0.38	42,553,891	N	N	Y	-
11	Guangdong Buynow Real Estate Management Co., Ltd.	Kapok Computer (Kunshan) Co., Ltd.	3	42,553,891	2,143,125	2,143,125	285,750	2,143,125	5.04	42,553,891	N	N	Y	-
12	Buynow (Harbin) Industry Co., Ltd.	Suzhou Jinzuo Industry Co., Ltd.	3	42,553,891	405,117	405,117	236,318	405,117	0.95	42,553,891	N	N	Y	-

Table 2, Page 1

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: Relationship between the endorser/guarantor and the party being endorsed/guaranteed is classified into the following six categories; fill in the number of category each case belongs to: (1) Having business relationship.
(2) The endorser/guarantor parent company owns directly more than 50% voting shares of the endorsed/guaranteed subsidiary.
(3) The Endorser/guarantor parent company and its subsidiaries jointly own more than 50% voting shares of the endorsed/ guaranteed company.
(4)The endorsed/guaranteed parent company directly or indirectly owns more than 50% voting shares of the endorser/guarantor subsidiary.
(5)Mutual guarantee of the trade as required by 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: Once endorsement/guarantee contracts or promissory notes are signed/issued by the endorser/guarantor company to the banks, the endorser/guarantor company bears endorsement/guarantee liabilities. And all other events involve endorsements and guarantees should be included in the balance of outstanding endorsements and guarantees.
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 2

Table 3

CLEVO CO. and Subsidiaries

Holding of marketable securities at the end of the period (not including subsidiaries, associates and joint ventures)

Three months ended March 31, 2022

Expressed in thousands of NTD

Table 3	Table 3	Table 3	Table 3	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD
				(Except as otherwise indicated)
Securities held by	Marketable securities(Note 1)	Relationship with the securities issuer (Note 2)	General ledger account	EndingBalance				Footnote (Note 4)
				No. of shares	Book value(Note 3)	(%)	Fair Value
	Stock
Clevo Co.	BOE TECHNOLOGY GROUP CO.,	-	Financial assets at fair value through profit or loss-current	200,000	3,880 $	0.00%	3,880 $	-
Clevo Co.	ASIA POLYMER CORPORATION	-	Financial assets at fair value through profit or loss-current	213,000	8,030	0.04%	8,030	-
Clevo Co.	ECLAT TEXTILE CO., LTD.	-	Financial assets at fair value through profit or loss-current	3,000	1,433	0.00%	1,433	-
Clevo Co.	KINIK COMPANY	-	Financial assets at fair value through profit or loss-current	45,000	5,715	0.03%	5,715	-
Clevo Co.	LOTUS PHARMACEUTICAL CO.,	-	Financial assets at fair value through profit or loss-current	15,000	2,033	0.01%	2,033	-
Clevo Co.	CHUNG HUNG STEEL	-	Financial assets at fair value through profit or loss-current	137,000	6,323	0.01%	6,323	-
Clevo Co.	Hsin Kuang Steel Company Limited	-	Financial assets at fair value through profit or loss-current	90,000	6,102	0.03%	6,102	-
Clevo Co.	TURVO INTERNATIONAL CO., LTD.	-	Financial assets at fair value through profit or loss-current	119,000	12,674	0.20%	12,674	-
Clevo Co.	UNITED MICROELECTRONICS	-	Financial assets at fair value through profit or loss-current	295,000	15,930	0.00%	15,930	-
Clevo Co.	COMPEQ MANUFACTURING	-	Financial assets at fair value through profit or loss-current	310,000	14,973	0.03%	14,973	-
Clevo Co.	Taiwan Semiconductor Manufacturing	-	Financial assets at fair value through profit or loss-current	140,000	83,580	0.00%	83,580	-
Clevo Co.	MACRONIX INTERNATIONAL CO.,	-	Financial assets at fair value through profit or loss-current	367,000	14,717	0.02%	14,717	-
Clevo Co.	Winbond Electronics Corporation	-	Financial assets at fair value through profit or loss-current	105,000	3,276	0.00%	3,276	-
Clevo Co.	GOLD CIRCUIT ELECTRONICS LTD.	-	Financial assets at fair value through profit or loss-current	71,000	6,035	0.01%	6,035	-
Clevo Co.	CHICONY ELECTRONICS CO., LTD.	Same chairman as the Company	Financial assets at fair value through profit or loss-current	4,697,000	421,791	0.63%	421,791	-
Clevo Co.	NANYA TECHNOLOGY	-	Financial assets at fair value through profit or loss-current	217,000	15,016	0.01%	15,016	-
Clevo Co.	AU Optronics Corp.	-	Financial assets at fair value through profit or loss-current	1,092,989	21,696	0.01%	21,696	-
Clevo Co.	Merry Electronics Co., Ltd.	-	Financial assets at fair value through profit or loss-current	10,000	855	0.00%	855	-
Clevo Co.	MediaTek Inc.	-	Financial assets at fair value through profit or loss-current	17,000	15,385	0.00%	15,385	-
Clevo Co.	Visual Photonics Epitaxy Co., Ltd.	-	Financial assets at fair value through profit or loss-current	71,000	8,059	0.04%	8,059	-
Clevo Co.	EVERGREEN MARINE	-	Financial assets at fair value through profit or loss-current	101,000	13,635	0.00%	13,635	-
Clevo Co.	YANG MING MARINE TRANSPORT	-	Financial assets at fair value through profit or loss-current	40,000	4,980	0.00%	4,980	-
Clevo Co.	WAN HAI LINES LTD.	-	Financial assets at fair value through profit or loss-current	15,000	2,378	0.00%	2,378	-
Clevo Co.	EVA AIRWAYS CORPORATION	-	Financial assets at fair value through profit or loss-current	117,000	3,773	0.00%	3,773	-
Clevo Co.	TAIWAN BUSINESS BANK, LTD.	-	Financial assets at fair value through profit or loss-current	8,226,325	105,708	0.11%	105,708	-
Clevo Co.	Cathay Financial Holding Co., Ltd.	-	Financial assets at fair value through profit or loss-current	89,000	5,741	0.00%	5,741	-
Clevo Co.	CTBC Financial Holding Co., Ltd.	-	Financial assets at fair value through profit or loss-current	2,000,000	58,800	0.01%	58,800	-
Clevo Co.	Elite Semiconductor Microelectronics	-	Financial assets at fair value through profit or loss-current	45,000	7,245	0.02%	7,245	-
Clevo Co.	Largan Precision Co., Ltd.	-	Financial assets at fair value through profit or loss-current	4,000	7,540	0.00%	7,540	-
Clevo Co.	Asia Vital Components Co., Ltd.	-	Financial assets at fair value through profit or loss-current	37,000	4,311	0.01%	4,311	-
Clevo Co.	FARADAY TECHNOLOGY	-	Financial assets at fair value through profit or loss-current	39,000	11,915	0.02%	11,915	-
Clevo Co.	WT Microelectronics Co., Ltd.	-	Financial assets at fair value through profit or loss-current	29,000	2,300	0.00%	2,300	-
Clevo Co.	Unimicron TechnologyCorp.	-	Financial assets at fair value throughprofit or loss - current	57,000	14,193	0.00%	14,193	-
Clevo Co.	TRIPOD TECHNOLOGY CORPORATION	-	Financial assets at fair value through profit or loss - current	120,000	16,080	0.02%	16,080	-
Clevo Co.	Zinwell Corporation	-	Financial assets at fair value throughprofit or loss - current	12,000	2,580	0.02%	2,580	-
Clevo Co.	SHENMAO TECHNOLOGY INC.	-	Financial assets at fair value throughprofit or loss - current	37,000	2,808	0.03%	2,808	-
Clevo Co.	AURAS TechnologyCo.,Ltd.	-	Financial assets at fair value throughprofit or loss - current	42,000	8,610	0.05%	8,610	-
Clevo Co.	Global UnichipCorporation	-	Financial assets at fair value throughprofit or loss - current	32,000	16,160	0.02%	16,160	-

Table 3, Page 1

Securities held by	Marketable securities(Note 1)	Relationship with the securities issuer (Note 2)	General ledger account	EndingBalance	EndingBalance	EndingBalance	EndingBalance	Footnote (Note 4)
				No. of shares	Book value(Note 3)	(%)	Fair Value
Clevo Co.	INNOLUX CORPORATION	-	Financial assets at fair value throughprofit or loss - current	51,219	860 $	0.00%	860 $	-
Clevo Co.	eMemoryTechnologyInc.	-	Financial assets at fair value throughprofit or loss - current	4,000	7,400	0.01%	7,400	-
Clevo Co.	FORMOSA SUMCO TECHNOLOGY CORPORATION	-	Financial assets at fair value through profit or loss - current	27,000	7,817	0.01%	7,817	-
Clevo Co.	United Renewable EnergyCo.,Ltd.	-	Financial assets at fair value throughprofit or loss - current	140,000	3,220	0.01%	3,220	-
Clevo Co.	ALCHIP TECHNOLOGIES,INC.	-	Financial assets at fair value throughprofit or loss - current	4,000	4,400	0.01%	4,400	-
Clevo Co.	ERIS TECHNOLOGY CORP.	-	Financial assets at fair value throughprofit or loss - current	29,000	8,874	0.07%	8,874	-
Clevo Co.	EPISIL TECHNOLOGIES INC.	-	Financial assets at fair value throughprofit or loss - current	104,000	13,832	0.03%	13,832	-
Clevo Co.	PEGATRON CORPORATION	-	Financial assets at fair value throughprofit or loss - current	126,000	9,122	0.00%	9,122	-
Clevo Co.	Zhen Ding Technology Holding Limited	-	Financial assets at fair value through profit or loss - current	380,000	40,850	0.04%	40,850	-
Clevo Co.	Sercomm Corporation	-	Financial assets at fair value throughprofit or loss - current	78,000	6,170	0.03%	6,170	-
Clevo Co.	CHAILEASE HOLDING COMPANY LIMITED	-	Financial assets at fair value through profit or loss - current	42,000	10,647	0.00%	10,647	-
Clevo Co.	GENESYS LOGIC,INC.	-	Financial assets at fair value throughprofit or loss - current	29,000	8,758	0.03%	8,758	-
Clevo Co.	CHIPBOND TECHNOLOGY CORPORATION	-	Financial assets at fair value through profit or loss - current	93,000	6,426	0.01%	6,426	-
Clevo Co.	Chant Sincere Co.,Ltd.	-	Financial assets at fair value throughprofit or loss - current	30,000	2,496	0.04%	2,496	-
Clevo Co.	TONG HSING ELECTRONIC INDUSTRIES , LTD.	-	Financial assets at fair value through profit or loss - current	47,000	13,630	0.03%	13,630	-
Clevo Co.	PEGAVISION CORPORATION	-	Financial assets at fair value throughprofit or loss - current	2,000	1,012	0.00%	1,012	-
Clevo Co.	Sports Gear Co.,Ltd.	-	Financial assets at fair value throughprofit or loss - current	70,000	4,865	0.04%	4,865	-
Clevo Co.	NAN YA PRINTED CIRCUIT BOARD CORPORATION	-	Financial assets at fair value through profit or loss - current	59,000	30,916	0.01%	30,916	-
Clevo Co.	E INK HOLDINGS INC.	-	Financial assets at fair value throughprofit or loss - current	57,000	10,545	0.00%	10,545	-
Clevo Co.	Actron TechnologyCorporation	-	Financial assets at fair value throughprofit or loss - current	55,000	13,008	0.06%	13,008	-
Clevo Co.	CO-TECH DEVELOPMENT CORP.	-	Financial assets at fair value throughprofit or loss - current	34,000	2,441	0.01%	2,441	-
Clevo Co.	Foxconn Industrial Internet Co.,Ltd.	-	Financial assets at fair value throughprofit or loss - current	1,760,000	80,411	0.01%	80,411	-
	Beneficiarycertificate
Clevo Co.	Greater China Multi-StrategyFund	-	Financial assets at fair value throughprofit or loss - current	78,788	323,472	-	323,472	-
Clevo Co.	BNP Paribas Funds-Energy Transition Classique USD Capitalisation	-	Financial assets at fair value through profit or loss - current	5,248	20,366	-	20,366	-
Clevo Co.	Invesco 3 to 6 Year Maturity Emerging Market Bond Fund Acc	-	Financial assets at fair value through profit or loss - current	1,500,000	13,740	-	13,740	-
Clevo Co.	Cathay Global Autonomous and Electric Vehicles ETF	-	Financial assets at fair value through profit or loss - current	3,000,000	45,990	-	45,990	-
Clevo Co.	President ICE FactSet Asia Semiconductor Net Total Return Index ETN	-	Financial assets at fair value through profit or loss - current	5,000,000	39,750	-	39,750	-
	Stock
Kapok Computer Co., Ltd.	CHICONY ELECTRONICS CO., LTD.	Same chairman as the Company	Financial assets at fair value through profit or loss - current	40,862	3,669	0.01%	3,669	-
Kapok Computer Co., Ltd.	Clevo Co.	The Company	Financial asset measured at fair value through other comprehensive income-non-current	16,966,596	546,324	2.64%	546,324	-
	Beneficiarycertificate
Kapok Computer Co., Ltd.	Reliance TAROBO Robotics Quantitative Chinese Fund	-	Financial assets at fair value through profit or loss - current	2,237,387	37,553	-	37,553	-

Table 3, Page 2

Securities held by	Marketable securities(Note 1)	Relationship with the securities issuer (Note 2)	General ledger account	EndingBalance	EndingBalance	EndingBalance	EndingBalance	Footnote (Note 4)
				No. of shares	Book value(Note 3)	(%)	Fair Value
	Stock
Clevo Investment Co., Ltd.	CHICONY ELECTRONICS CO., LTD.	Same chairman as the Company	Financial assets at fair value through profit or loss - current	162,072	14,554 $	0.02%	14,554 $	-
Clevo Investment Co., Ltd.	Clevo Co.	The Company	Financial asset measured at fair value through other comprehensive income-non-current	10,080,669	324,598	1.57%	324,598	-
	Beneficiarycertificate
Clevo Investment Co., Ltd.	Yuanta Taiwan High-yield Leading Company Fund	-	Financial assets at fair value through profit or loss - current	1,000,000	14,460	-	14,460	-
Clevo Investment Co., Ltd.	Reliance TAROBO Robotics Quantitative Chinese Fund	-	Financial assets at fair value through profit or loss - current	1,491,591	25,035	-	25,035	-
CLEVO (CAYMAN ISLANDS) HOLDING	UG Hidden Dragon Special Opportunity Fund	-	Financial assets at fair value through profit or loss - current	266,378	631,598	-	631,598	-
CLEVO (CAYMAN ISLANDS) HOLDING	Greater China Multi-Strategy Fund	-	Financial assets at fair value through profit or loss - current	403,145	280,665	-	280,665	-
CLEVO (CAYMAN ISLANDS) HOLDING	Greater China Multi-Strategy Fund	-	Financial assets at fair value through profit or loss - current	19,711	80,924	-	80,924	-
CLEVO (CAYMAN ISLANDS) HOLDING	KGI Next Generation Multi-Asset Fund	-	Financial assets at fair value through profit or loss - current	384,911	129,896	-	129,896	-
CLEVO (CAYMAN ISLANDS) HOLDING	BlackRock Global Fund - World Technology Fund	-	Financial assets at fair value through profit or loss - current	31,622	63,649	-	63,649	-
CLEVO (CAYMAN ISLANDS) HOLDING	BlackRock Global Funds - ESG Multi- Asset Fund	-	Financial assets at fair value through profit or loss - current	37,879	56,198	-	56,198	-
CLEVO (CAYMAN ISLANDS) HOLDING	AB SICAV I-American Growth Portfolio	-	Financial assets at fair value through profit or loss - current	5,657	26,852	-	26,852	-

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

Three months ended March 31, 2022

Table 4

Expressed in thousands of NTD

CLEVO CO. and Subsidiaries

Acquisition of real estate reaching NT$300 million or 20% of paid-in capital or more

(Except as otherwise indicated)

Real estate acquired by	Real estate acquired	Transaction date or 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 settingtheprice	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~ First Quarter of 2022	$ 1,526,486	$ 940,753	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~ First Quarter of 2022	774,403	750,188	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~ First Quarter of 2022	3,189,407	3,023,075	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~ First Quarter of 2022	1,497,850	1,444,522	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~ First Quarter of 2022	1,811,755	1,793,097	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

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

Three months ended March 31, 2022

Table 5

Expressed in thousands of NTD

(Except as otherwise indicated)

									(Except as otherwise	(Except as otherwise	indicated)
Purchaser/seller	Counterparty	Relationship with the counterparty	Transaction				Compared to thirdpartytransactions(Note 1)		Notes/accounts receivable(payable)		Footnote (Note 2)
			Purchases (sales)	Amount	Percentage of total purchases(sales)	Credit term	Unit Price	Credit term	Balance at March 31,2022	~~Percentage of~~ total notes/accounts receivable (payable)
Clevo Co.	Kapok Computer (Kunshan) Co., Ltd.	The Company’s ultimate parent company	Purchases	3,887,381 $	58.23%	30 days after monthly billings and offset between creditor's rights and debt obligation.	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.	- $	-	-
Clevo Co.	Kapok Computer (Kunshan) Co., Ltd.	The Company’s ultimate parent company	Sales	( 1,840,175)	25.30%	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.	1,849,431	34.64%	-
Kapok Computer (Kunshan) Co., Ltd.	Clevo Co.	The Company as the ultimate parent company	Sales	( 3,887,381)	99.96%	30 days after monthly billings	It is the only customer, so the price cannot be compared.	-	-	-	-
Kapok Computer (Kunshan) Co., Ltd.	Clevo Co.	The Company as the ultimate parent company	Purchases	1,840,175	47.32%	180 days	It is the only supplier, so the price cannot be compared.	-	( 1,849,431)	42.64%	-

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 5, Page 1

CLEVO CO. and Subsidiaries

Receivables from related parties reaching NT$100 million or 20% of paid-in capital or more

Three months ended March 31, 2022

Table 6	Table 6	Table 6	Table 6	Table 6	Expressed in thousands of NTD (Except as otherwise indicated)	Expressed in thousands of NTD (Except as otherwise indicated)	Expressed in thousands of NTD (Except as otherwise indicated)	Expressed in thousands of NTD (Except as otherwise indicated)
Creditor	Counterparty	Relationship with the counterparty	Balance as at March 31, 2022(Note 1)	Turnover rate	Overdue receivables		Amount collected subsequent to the balance sheet date	Allowance for doubtful accounts
					Amount	Action taken
Clevo Co.	Kapok Computer (Kunshan) Co., Ltd.	The transaction object is a subsidiary of the company.	1,849,431 $	3.96	$ -	Reclassified to other receivables - related parties - current	- $	- $

Note 1: Fill in separately the balances of accounts receivable–related parties, notes receivable–related parties, other receivables–related parties….

Table 6, Page 1

Table 7

CLEVO CO. and Subsidiaries

Significant inter-company transactions during the reporting periods

Three months ended March 31, 2022

Expressed in thousands of NTD

(Except as otherwise indicated)

				(Except as otherwise indicated)	(Except as otherwise indicated)	(Except as otherwise indicated)	(Except as otherwise indicated)
Number (Note 1)	Companyname	Counterparty	Relationship (Note 2)	Transaction
				General ledger account	Amount	Transaction terms	Percentage of consolidated total operating revenues or total assets(Note 3)
0	Clevo Co.	Kapok Computer (Kunshan) Co., Ltd.	1	Purchases	3,887,381 $	The selling price is reduced by 5%~15%. However, it can be adjusted according to market conditions. The payment period is 30 days after monthlybillings.	60.70%
0	Clevo Co.	Kapok Computer (Kunshan) Co., Ltd.	1	Sales	1,840,175	It is the only customer, so the price cannot be compared. The payment period is 180 days.	28.73%
0	Clevo Co.	Kapok Computer (Kunshan) Co., Ltd.	1	Accounts receivable - related parties	1,849,431	-	1.95%
1	Buynow (Hangzhou) Electronic Information Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	3	Other receivables - related parties-current	107,355	5.00%	0.11%
1	Buynow (Hangzhou) Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	264,360	5.00%	0.28%
1	Buynow (Hangzhou) Electronic Information Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	184,327	5.00%	0.19%
1	Buynow (Hangzhou) Electronic Information Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	143,141	5.00%	0.15%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	419,969	3.70%	0.44%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	115,458	3.70%	0.12%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Buynow Electronic Information (Huizhou) Co., Ltd.	3	Other receivables - related parties-current	135,398	3.70%	0.14%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Clevo (China) Investment Co., Ltd.	3	Other receivables - related parties-current	126,036	3.70%	0.13%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	331,519	3.70%	0.35%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Buynow (Fujian) Electronic Technology Development Co., Ltd.	3	Receivables - related parties	62,184	-	0.07%
2	Buynow (Chengdu) Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	67,973	-	0.07%
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	Other receivables - related parties-current	393,187	3.70%	0.41%
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties-current	168,573	3.70%	0.18%
3	Buynow (Nanjing) Facility Leasing And Management Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Receivables - related parties	65,630	-	0.07%
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Nanchang) Industry Co., Ltd.	3	Other receivables - related parties-current	197,831	4.50%	0.21%
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow(Guangzhou) Electronic Information Co., Ltd.	3	Other receivables - related parties-current	176,900	4.50%	0.19%
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	Other receivables - related parties-current	176,990	4.50%	0.19%
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties-current	668,755	4.50%	0.70%

Table 7, Page 1

Number (Note 1)	Companyname	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)
4	Kapok Computer (Kunshan) Co., Ltd.	Daqing Buynow Electronic Information Corporation	3	Other receivables - related parties-current	100,829 $	4.50%	0.11%
4	Kapok Computer (Kunshan) Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	91,826	4.50%	0.10%
4	Kapok Computer (Kunshan) Co., Ltd.	Shantou Buynow Mall Co., Ltd.	3	Other receivables - related parties-current	500,182	4.50%	0.53%
4	Kapok Computer (Kunshan) Co., Ltd.	Clevo (China) Investment Co., Ltd.	3	Other receivables - related parties-current	180,051	4.50%	0.19%
4	Kapok Computer (Kunshan) Co., Ltd.	Yingkou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	85,524	4.50%	0.09%
4	Kapok Computer (Kunshan) Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	447,877	4.50%	0.47%
4	Kapok Computer (Kunshan) Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	200,757	4.50%	0.21%
4	Kapok Computer (Kunshan) Co., Ltd.	Dezhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	570,312	4.50%	0.60%
4	Kapok Computer (Kunshan) Co., Ltd.	Kunshan Kaishuo Trading Co., Ltd.	3	Other receivables - related parties-current	180,051	4.50%	0.19%
4	Kapok Computer (Kunshan) Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	Other receivables - related parties-current	270,077	4.50%	0.28%
5	Buynow (Nanchang) Industry Co., Ltd.	Buynow (Hangzhou) Electronic Information Co., Ltd.	3	Other receivables - related parties-current	61,667	5.00%	0.06%
5	Buynow (Nanchang) Industry Co., Ltd.	Buynow(Guangzhou) Electronic Information Co., Ltd.	3	Other receivables - related parties-current	65,944	5.00%	0.07%
5	Buynow (Nanchang) Industry Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	187,388	5.00%	0.20%
5	Buynow (Nanchang) Industry Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	64,458	5.00%	0.07%
5	Buynow (Nanchang) Industry Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	76,972	5.00%	0.08%
5	Buynow (Nanchang) Industry Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	Other receivables - related parties-current	60,857	5.00%	0.06%
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	3	Other receivables - related parties-current	88,990	3.70%	0.09%
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties-current	54,646	3.70%	0.06%
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Clevo (China) Investment Co., Ltd.	3	Other receivables - related parties-current	72,020	3.70%	0.08%
6	Buynow (Zhengzhou) Electronic Information Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	104,070	3.70%	0.11%
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Changsha Hungyu Business Management Co., Ltd.	3	Other receivables - related parties-current	127,161	3.70%	0.13%
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	172,399	3.70%	0.18%
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Yingkou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	119,689	3.70%	0.13%
7	Buynow Electronic Information (Shenyang) Co., Ltd.	Yingkou Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	85,586	-	0.09%
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Buynow(Guangzhou) Electronic Information Co., Ltd.	3	Other receivables - related parties-current	70,940	3.70%	0.07%

Table 7, Page 2

Number (Note 1)	Companyname	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)
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties-current	202,783 $	3.70%	0.21%
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Daqing Buynow Electronic Information Corporation	3	Other receivables - related parties-current	120,589	3.70%	0.13%
8	Buynow (Fujian) Electronic Technology Development Co., Ltd.	Daqing Buynow Electronic Information Corporation	3	Receivables - related parties	50,109	-	0.05%
9	Buynow (Changchun) Industry Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	Other receivables - related parties-current	200,307	3.70%	0.21%
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties-current	79,583	5.00%	0.08%
10	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	190,179	5.00%	0.20%
11	Quality Trust Property Management Co., Ltd.	Daqing Buynow Electronic Information Corporation	3	Other receivables - related parties-current	217,637	3.00%	0.23%
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	Other receivables - related parties-current	228,215	3.70%	0.24%
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Buynow (Harbin) Industry Co., Ltd.	3	Other receivables - related parties-current	239,693	3.70%	0.25%
12	Kalor Buynow (Heifei) Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	135,074	3.70%	0.14%
13	Buynow (Chongqing) Industry Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	57,166	5.00%	0.06%
13	Buynow (Chongqing) Industry Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	66,072	-	0.07%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	84,624	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	290,737	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	185,993	5.00%	0.20%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	329,944	5.00%	0.35%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	Other receivables - related parties-current	213,451	5.00%	0.22%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	Receivables - related parties	104,394	-	0.11%
14	Shanghai Buynow Electronic Products Market Management Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	73,069	-	0.08%
15	Tianjin Buynow Electronic Information Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	162,496	3.70%	0.17%
15	Tianjin Buynow Electronic Information Co., Ltd.	Buynow (Xian) Industry Co., Ltd.	3	Other receivables - related parties-current	63,918	3.70%	0.07%
15	Tianjin Buynow Electronic Information Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	Other receivables - related parties-current	266,746	3.70%	0.28%
15	Tianjin Buynow Electronic Information Co., Ltd.	Zibo Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	122,633	3.70%	0.13%
15	Tianjin Buynow Electronic Information Co., Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	Receivables - related parties	52,759	-	0.06%
15	Tianjin Buynow Electronic Information Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	65,171	-	0.07%
16	Buynow (Yancheng) Electronoc Information Technology Development Co. Ltd.	Shantou Buynow Mall Co., Ltd.	3	Other receivables - related parties-current	276,153	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	355,601	0.00%	0.37%

Table 7, Page 3

Number (Note 1)	Companyname	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)
17	Beijing Clevo Investment Management Consultant Co.,Ltd.	Qingdao Buynow Technology Industry Co., Ltd.	3	Other receivables - related parties-current	290,332 $	5.00%	0.31%
17	Beijing Clevo Investment Management Consultant Co.,Ltd.	Buynow Electronic Information (Huizhou) Co., Ltd.	3	Other receivables - related parties-current	286,731	5.00%	0.30%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	363,658	3.70%	0.38%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow(Guangzhou) Electronic Information Co., Ltd.	3	Other receivables - related parties-current	66,574	3.70%	0.07%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	249,371	3.70%	0.26%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	220,563	3.70%	0.23%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Quanzhou Buynow Industry Co., Ltd.	3	Other receivables - related parties-current	84,174	3.70%	0.09%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Buynow (Jinzhou) Industry Co., Ltd.	3	Other receivables - related parties-current	248,470	3.70%	0.26%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	146,072	-	0.15%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Luoyang Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	63,089	-	0.07%
18	Guangdong Buynow Real Estate Management Co., Ltd.	Guiyang Buynow Electronic Information Co., Ltd.	3	Receivables - related parties	86,017	-	0.09%
19	Shantou Buynow Mall Co., Ltd.	Buynow Electronic Information (Huizhou) Co., Ltd.	3	Other receivables - related parties-current	76,522	4.50%	0.08%
19	Shantou Buynow Mall Co., Ltd.	Guangdong Buynow Real Estate Management Co., Ltd.	3	Other receivables - related parties-current	98,578	4.50%	0.10%
19	Shantou Buynow Mall Co., Ltd.	Clevo (China) Investment Co., Ltd.	3	Other receivables - related parties-current	84,174	4.50%	0.09%
19	Shantou Buynow Mall Co., Ltd.	Anshan Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	500,362	4.50%	0.53%
19	Shantou Buynow Mall Co., Ltd.	Suzhou Jinzuo Industry Co., Ltd.	3	Other receivables - related parties-current	268,051	4.50%	0.28%
19	Shantou Buynow Mall Co., Ltd.	Taizhou Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	105,330	4.50%	0.11%
20	Dezhou Buynow Electronic Information Co., Ltd.	Buynow (Wuxi) Electronic Technology Development Co., Ltd.	3	Other receivables - related parties-current	63,018	5.00%	0.07%
21	Kunshan Kaishuo Trading Co., Ltd.	Shanghai Buynow Electronic Information Co., Ltd.	3	Other receivables - related parties-current	114,693	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 total operating revenues or total assets, it is computed based on period-end balance of transaction to total assets for balance sheet accounts and based on accumulated transaction amount for the period to 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 7, Page 4

CLEVO CO. and Subsidiaries

Information on investees

Three months ended March 31, 2022

Table 8

Expressed in thousands of NTD (Except as otherwise indicated)

											(Except as otherwise indicated)
Investor	Investee(Notes 1 and 2)	Location	Main business activities	Initial investment amount		Shares held as at March 31,2022			Net profit (loss) of the investee for the three months ended March 31, 2022 (Note 2(2))	Investment income (loss) recognised by the Company for the three months ended March 31, 2022 (Note 2(3))	Footnote
				Balance as at March 31,2022	Balance as at December 31, 2021	No. of shares	Ownership (%)	Book value
Clevo Co.	CLEVO COMPUTER SINGAPORE PTE LTD.	Singapore	Management and advisory of computers	420,061 $	420,061 $	22,325,453	100.00	7,866,032 $	37,021 $	37,021 $	The subsidiary of the Company
Clevo Co.	CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	Cayman Islands	Investment	15,754,974	15,754,974	369,370,000	100.00	44,303,957	85,509	85,509	The subsidiary of the Company
Clevo Co.	KAPOK COMPUTER (SAMOA)CORPORATION	Samoa	Investment	489,985	489,985	16,000,000	100.00	2,074,941	63,566	63,606	The subsidiary of the Company
Clevo Co.	BUYNOW ON-LINE HOLDING CORPORATION	Samoa	Investment	35,513	35,513	1,100,000	100.00	9,952) (	233	233	The subsidiary of the Company
Clevo Co.	Clevo Investment Co., Ltd.	Taiwan	Investment	140,000	140,000	14,000,000	100.00	72,325	2,456) (	2,456) (	The subsidiary of the Company
Clevo Co.	Kapok Computer Co., Ltd.	Taiwan	Design and sale of computers and computer peripherals	80,000	80,000	8,000,000	100.00	54,981	3,119) (	3,119) (	The subsidiary of the Company
Clevo Co.	Taipei Twin Corporation	Taiwan	Commercial real estate	1,000,000	1,000,000	1,000,000,000	50.00	960,853	12,884) (	6,442) (	Long-term equity investment accounted for usingequitymethod
CLEVO COMPUTER SINGAPORE PTE LTD.	BUYNOW (CHENGDU) CORPORATION	Samoa	Investment	278,468	278,468	7,000,000	100.00	3,575,117	12,036	12,036	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	982,907	3,450	3,450	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	3,624,524	35,821	35,821	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (ZHENGZHOU) CORPORATION	Samoa	Investment	103,185	103,185	3,000,000	100.00	3,326,756	18,128	18,128	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW GROUP (CHANGSHA)	British Virgin Islands	Investment	136,180	136,180	4,000,000	100.00	231,696	626	626	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	1,214,816	7,332	7,332	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	2,377,617	16,602	16,602	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	3,237,513	17,784	17,784	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	2,004,823	13,388	13,388	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	873,089	8,502	8,502	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	3,030,301	14,945	14,945	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	89,817	2,661) (	2,661) (	The Company as the ultimate parent company

Table 8, Page 1

Investor	Investee(Notes 1 and 2)	Location	Main business activities	Initial investment amount	Initial investment amount	Shares held as at March 31,2022	Shares held as at March 31,2022	Shares held as at March 31,2022	Net profit (loss) of the investee for the three months ended March 31, 2022 (Note 2(2))	Investment income (loss) recognised by the Company for the three months ended March 31, 2022 (Note 2(3))	Footnote
				Balance as at March 31,2022	Balance as at December 31, 2021	No. of shares	Ownership (%)	Book value
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (CHONGQING) LIMITED	Hong Kong	Investment	169,140 $	169,140 $	5,000,000	100.00	1,085,722 $	3,925 $	3,925 $	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	2,413,802	12,035	12,035	The Company as the ultimate parent company
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (WUXI) CORPORATION	Samoa	Investment	64,054	64,054	2,000,000	100.00	1,354,221	12,067	12,067	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	272,966	20,533) (	20,533) (	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	124,637) (	1,619	1,619	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	158,281) (	2,227) (	2,227) (	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	1,958,858	14,001	14,001	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	5,286,264	14,584	14,584	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	762,647	-	-	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	96,005) (	8,531	8,531	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	427,470	103) (	103) (	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	925,812	23,500) (	23,500) (	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	267,954	110) (	110) (	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	1,578,878	90,432	27,130	Long-term equity investment accounted for usingequitymethod
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	CHICONY SQUARE (CAYMAN)INC.	Cayman Islands	Investment	86,886	86,886	3,000,000	30.00	138,618	18,779	5,634	Long-term equity investment accounted for usingequitymethod
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (WUHAN) CORPORATION	Samoa	Investment	-	-	4,500,000	30.00	151,833	16,146) (	4,844) (	Long-term equity investment accounted for usingequitymethod
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	CHICONY CHENGDU INTERNATIONAL INC.	British Virgin Islands	Investment	362,866	362,866	1,500,000	3.75	63,901	45,756	1,716	Long-term equity investment accounted for usingequitymethod
CLEVO (CAYMAN ISLANDS) HOLDING COMPANY	BUYNOW (TAIZHOU) CORPORATION	Samoa	Investment	505,786	505,786	17,000,000	100.00	286,656	3,259) (	3,259) (	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	1,047,405	3,897	3,897	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	371,552	29,547) (	29,547) (	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	153,184	33,188) (	33,188) (	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	320,775	165) (	165) (	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	96,190	18,185) (	18,185) (	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	480,391	5,855	5,855	The Company as the ultimate parent company

Table 8, Page 2

Investor	Investee(Notes 1 and 2)	Location	Main business activities	Initial investment amount	Initial investment amount	Shares held as at March 31,2022	Shares held as at March 31,2022	Shares held as at March 31,2022	Net profit (loss) of the investee for the three months ended March 31, 2022 (Note 2(2))	Investment income (loss) recognised by the Company for the three months ended March 31, 2022 (Note 2(3))	Footnote
				Balance as at March 31,2022	Balance as at December 31, 2021	No. 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	5,286,264 $	14,584 $	14,584 $	The Company as the ultimate parent company
SMARTER CAPITAL LIMITED	BUYNOW SZ. CORPORATION	Samoa	Investment	452,081	452,081	14,900,000	100.00	1,047,405	3,897	3,897	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	9,951) (	233	233	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 March 31, 2022’ 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 three months ended March 31, 2022’ column should fill in amount of net profit (loss) of the investee for this period.
(3) The ‘Investment income (loss) recognised by the Company for the three months ended March 31, 2022’ 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 period. 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 8, Page 3

CLEVO CO. and Subsidiaries

Information on investments in Mainland China

Three months ended March 31, 2022

Table 9

Expressed in thousands of NTD

Table 9	Table 9	Table 9	Table 9	Table 9	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	Expressed in thousands of NTD	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, 2022	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the three months ended March 31, 2022		Accumulated amount of remittance from Taiwan to Mainland China as of March 31, 2022	Net income of investee for the three months ended March 31, 2022	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the three months ended March 31, 2022 (Note 2)	Book value of investments in Mainland China as of March 31,2022	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 $	12,036 $	100.00	12,036 $	3,575,117 $	- $	-
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	8,524	100.00	8,524	2,033,287	-	-
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)	-	-	-	-	17,584	100.00	17,584	2,367,642	-	-
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	63,300	100.00	63,300	2,066,118	-	-
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)	-	-	-	-	1,998	100.00	1,998	6,058	-	-
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	110,988	30.00	33,296	1,037,997	-	-
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.	-	-	-	-	3,274) (	30.00	982) (	40,709	-	-
Chicony Square (Wuhan) Management Co., Ltd.	Sales of service and non-staple food; cafe operation; venue rental	14,414	(3)	-	-	-	-	1,823	24.99	456	33,721	-	-
Qunguang Industrial (Xian) Co., Ltd.	Research, development, production and sales of computer software and hardware, electronic products; sales services, nonstaple food; coffee shop operations; venue rental; catering services; parking lot management and retail	4,053,756	(3)	-	-	-	-	88,406) (	30.00	26,522) (	416,218	-	-
Buynow (Hangzhou) Electronic Information Co., Ltd.	Manufacturing, sale, maintenance service, research and development of computers and computer peripherals and digital products, and property management of buildings	198,848	(2)	198,848	-	-	198,848	35,821	100.00	35,821	3,624,524	-	-
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	5,352	100.00	5,352	3,244,684	-	-

Table 9, 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, 2022	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the three months ended March 31, 2022	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the three months ended March 31, 2022	Accumulated amount of remittance from Taiwan to Mainland China as of March 31, 2022	Net income of investee for the three months ended March 31, 2022	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the three months ended March 31, 2022 (Note 2)	Book value of investments in Mainland China as of March 31,2022	Accumulated amount of investment income remitted back to Taiwan as of December 31,2021	Footnote
					Remitted to Mainland China	Remitted back to Taiwan
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 $	3,968 $	100.00	3,968 $	268,433 $	- $	-
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)	-	-	-	-	273	100.00	273	30,246	-	-
Shanghai Buynow Electronic Products Market Management Co., Ltd.	Provide market management services for operators of electronic products	504,484	(3)	-	-	-	-	14,404	100.00	14,404	4,897,085	-	-
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)	-	-	-	-	13,983	100.00	13,983	60,460) (	-	-
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)(3)	119,297	-	-	119,297	19,148	100.00	19,148	3,172,671	-	-
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	626	100.00	626	231,696	-	-
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	18,128	100.00	18,128	3,326,756	-	-
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	13,815	100.00	13,815	2,373,600	-	-
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	12,028	100.00	12,028	2,401,499	-	-
Beijing Clevo Investment Management Consultant Co.,Ltd.	Business advisory of investment management, wholesale agency of electronic products, import and export of goods andpropertymanagement	305,459	(2)(3)	314,567	-	-	314,567	18,422	100.00	18,422	2,577,445	-	-
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	-	100.00	-	762,646	-	-
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	8,502	100.00	8,502	873,089	-	-

Table 9, 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, 2022	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the three months ended March 31, 2022	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the three months ended March 31, 2022	Accumulated amount of remittance from Taiwan to Mainland China as of March 31, 2022	Net income of investee for the three months ended March 31, 2022	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the three months ended March 31, 2022 (Note 2)	Book value of investments in Mainland China as of March 31,2022	Accumulated amount of investment income remitted back to Taiwan as of December 31,2021	Footnote
					Remitted to Mainland China	Remitted back to Taiwan
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 $	13,388 $	100.00	13,388 $	2,004,823 $	- $	-
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	45,755	30.00	13,727	511,196	-	-
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	12,211	100.00	12,211	2,544,411	-	-
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	22,414	100.00	22,414	8,131,998	-	-
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	15,691	100.00	15,691	3,181,752	-	-
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	-	-	-	-	16,146) (	30.00	4,844) (	151,833	-	-
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	12,922) (	100.00	12,922) (	436,219	-	-
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	16,893	100.00	16,893	1,895,871	-	-
Wuxi Buynow Electronic Market Co., Ltd.	Leasing of facility, market management service, catering management, property management, parkinglot management	2,454	(3)	-	-	-	-	5	100.00	5	2,472	-	-
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	20,645) (	100.00	20,645) (	269,425	-	-
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 parkinglot service	164,167	(2)	164,167	-	-	164,167	3,925	100.00	3,925	1,085,721	-	-

Table 9, 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, 2022	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the three months ended March 31, 2022	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the three months ended March 31, 2022	Accumulated amount of remittance from Taiwan to Mainland China as of March 31, 2022	Net income of investee for the three months ended March 31, 2022	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the three months ended March 31, 2022 (Note 2)	Book value of investments in Mainland China as of March 31,2022	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 $	147 $	100.00	147 $	12,681) ($	- $	-
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	1,619	100.00	1,619	124,637) (	-	-
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	21,329	100.00	21,329	240,012) (	-	-
Shantou Buynow Mall Co., Ltd.	Investment in companies primarily engaged in research and development and advisory service	574,562	(2)	574,562	-	-	574,562	5,855	100.00	5,855	480,391	-	-
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	2,227) (	100.00	2,227) (	158,281) (	-	-
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	103) (	100.00	103) (	427,470	-	-
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	23,500) (	100.00	23,500) (	925,812	-	-
Clevo (China) Investment Co., Ltd.	Investment in companies primarily engaged in research and development and advisory service	897,135	(2)	897,135	-	-	897,135	54,570) (	100.00	51,350) (	2,654,234	-	-
Guiyang 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	303,271	(2)	303,271	-	-	303,271	110) (	100.00	110) (	267,954	-	-
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	3,259) (	100.00	3,259) (	286,654	-	-
Suzhou Jinzuo Industry Co., Ltd.	Business affairs and property management business	480,460	(2)	1,008,954	-	-	1,008,954	3,897	100.00	3,897	1,047,405	-	-

Table 9, 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, 2022	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the three months ended March 31, 2022	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the three months ended March 31, 2022	Accumulated amount of remittance from Taiwan to Mainland China as of March 31, 2022	Net income of investee for the three months ended March 31, 2022	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the three months ended March 31, 2022 (Note 2)	Book value of investments in Mainland China as of March 31,2022	Accumulated amount of investment income remitted back to Taiwan as of December 31,2021	Footnote
					Remitted to Mainland China	Remitted back to Taiwan
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)(3)	881,914 $	- $	- $	881,914 $	60,795) ($	100.00	60,795) ($	764,510 $	- $	-
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	33,188) (	100.00	33,188) (	153,184	-	-
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	165) (	100.00	165) (	320,775	-	-
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	18,185) (	100.00	18,185) (	96,190	-	-
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 advisoryservices	30,198	(2)	30,198	-	-	30,198	790) (	100.00	790) (	26,664	-	-
Shanghai Huihei Advertisment Co., Ltd.	Advertising design and marketing	4,850	(3)	-	-	-	-	247) (	100.00	247) (	4,440	-	-
Shanghai Huizhuan Restaurant Management Co.,Ltd.	Catering business management	22,884	(3)	-	-	-	-	55	100.00	55	3,620	-	-

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. For the investee in the third area of consolidated subsidiaries, please refer to Note 4(3)B. Others has been shown in the table.

(3) Others: Through investing in investees in the third areas, which then invested in the investee in Mainland China or were split.

Note 2: In the ‘Investment income (loss) recognised by the Company for the three months ended March 31, 2022’, the amount recognised in the financial statements of the investee that were reviewed by its CPA. Note 3: The numbers in this table are expressed in New Taiwan Dollars.

Table 9, Page 5

			Ceiling on
			investments in
			Mainland China
	Accumulated amount of	Investment amount approved by	imposed by the
	remittance from Taiwan to	the Investment Commission of the	Investment
	Mainland China as of	Ministry of Economic Affairs	Commission of
Companyname	March 31,2022	(MOEA)	MOEA
Clevo Co.	$ 13,393,300	$ 15,866,917	$ 25,532,335
	(USD 421,680 thousand)	(USD 456,227 thousand)

Note 1: According to the MOEA Regulation No. 09704604680, “Regulations Governing the Permission of Investment or Technical Cooperation in Mainland Area”, announced on

August 29, 2008, limit on accumulated amount of investment in Mainland China is the higher of 60% of net assets and consolidated net assets. The ultimate limit of investment is 60% of the consolidated net worth. (42,553,891 x 60% = 25,532,335)

Note 2: It has been liquidated as of March 31, 2022, and has been approved to invest US$4,120,000 by the Ministry of Economic Affairs. Note 3: As of March 31, 2022, 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 9, Page 6

CLEVO CO. and Subsidiaries

Major shareholders information

Three months ended March 31, 2022

Table 10

Name of major shareholders	Shares	Shares
	Name of shares held	Ownership (%)
Kent Hsu Huatai Investment Co., Ltd. EPOQUE CORPORATION Fu-Chia Hsu	46,701,335 37,326,144 33,567,888 32,176,454	7.27% 5.81% 5.23% 5.01%

Table 10, Page 1

AI assistant

CLEVO CO. — Interim / Quarterly Report 2022

52030_rns_2022-11-10_109bdd56-d2a6-470f-8442-38467de74008.pdf

CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS AND

INDEPENDENT AUDITORS’ REVIEW REPORT TRANSLATED FROM CHINESE

Introduction

Scope of Review

Basis for Qualified Conclusion

Qualified Conclusion

Wu, Han-Chi

[Liang, Hua-Ling ]

CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

MARCH 31, 2022, DECEMBER 31, 2021 AND MARCH 31, 2021

CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

MARCH 31, 2022, DECEMBER 31, 2021 AND MARCH 31, 2021

CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME THREE MONTHS ENDED MARCH 31, 2022 AND 2021

CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY THREE MONTHS ENDED MARCH 31, 2022 AND 2021

CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

THREE MONTHS ENDED MARCH 31, 2022 AND 2021

CLEVO CO. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

THREE MONTHS ENDED MARCH 31, 2022 AND 2021

CLEVO CO. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

THREE MONTHS ENDED MARCH 31, 2022 AND 2021

1. HISTORY AND ORGANISATION

2. THE DATE OF AUTHORISATION FOR ISSUANCE OF THE CONSOLIDATED FINANCIAL STATEMENTS AND PROCEDURES FOR AUTHORISATION

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

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(1) Compliance statement

(2) Basis of preparation

B. Subsidiaries included in the consolidated financial statements:

(4) Foreign currency translation

(5) Classification of current and non-current items

(6) Cash equivalents

(8) Financial assets at amortized cost

(10) Impairment of financial assets

(11) Derecognition of financial assets

- (12) Leasing arrangements (lessor) operating leases

(13) Inventories

(18) Investment property

(19) Intangible assets

B. Goodwill

(21) Borrowings

(23) Bonds payable

(24) Derecognition of financial liabilities

(25) Offsetting financial instruments

(26) Non-hedging derivatives

(27) Provisions

(28) Employee benefits

(b) Defined benefit plans

(30) Share capital

(31) Dividends

(32) Revenue recognition

B. Booth rental revenue

(34) Operating segments

5. CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND KEY SOURCES OF ASSUMPTION UNCERTAINTY

6. DETAILS OF SIGNIFICANT ACCOUNTS

(1) Cash and cash equivalents

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

Forward foreign exchange contracts / Foreign exchange swaps

(4) Inventories

(5) Investments accounted for using equity method

A. Associates:

Balance sheet

Statement of comprehensive income

(6) Property, plant and equipment

(7) Leasing arrangements - lessee

(9) Investment property

(10) Intangible assets

(12) Short-term borrowings

(13) Bonds payable

- (14) Long term borrowings

(15) Pensions

CLEVO CO. Interim / Quarterly Report 2022