Stock Code:1532

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS

with Independent Auditors’ Review Report For the Three Months Ended March 31, 2022 and 2021

Address: 4F, NO.85, SEC.4, REN' AI RD, TAIPEI, TAIWAN, R.O.C. Telephone: 886-2-2711-2831

The independent auditors’ review report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors’ review report and consolidated financial statements, the Chinese version shall prevail.

Contents 1. Cover Page 2. Table of Contents 3. Independent Auditors’ Review Report 4. Consolidated Balance Sheets 5. Consolidated Statements of Comprehensive Income 6. Consolidated Statements of Changes in Equity 7. Consolidated Statements of Cash Flows 8. Notes to the Consolidated Financial Statements (1) Company history (2) Approval date and procedures of the consolidated financial statements (3) New standards, amendments and interpretations adopted (4) Summary of significant accounting policies (5) Significant accounting assumptions and judgments, and major sources of estimation uncertainty (6) Explanation of significant accounts (7) Related-party transactions (8) Pledged assets (9) Significant commitments and contingencies (10) Losses due to major disasters (11) Subsequent events (12) Other (13) Other disclosures (a) Information on significant transactions (b) Information on investees (c) Information on investment in Mainland China (d) Information on major shareholders (14) Segment information	Page
	1 2 3 4 5 6 7 8 8 8 9～11 11 12～44 44～50 50 51～53 53 53 54 55～59 59～60 60～61 61 62

Contents
1. Cover Page
2. Table of Contents
3. Independent Auditors’ Review Report
4. Consolidated Balance Sheets
5. Consolidated Statements of Comprehensive Income
6. Consolidated Statements of Changes in Equity
7. Consolidated Statements of Cash Flows
8. Notes to the Consolidated Financial Statements
(1)
Company history
(2)
Approval date and procedures of the consolidated financial statements
(3)
New standards, amendments and interpretations adopted
(4)
Summary of significant accounting policies
(5)
Significant accounting assumptions and judgments, and major sources
of estimation uncertainty
(6)
Explanation of significant accounts
(7)
Related-party transactions
(8)
Pledged assets
(9)
Significant commitments and contingencies
(10) Losses due to major disasters
(11) Subsequent events
(12) Other
(13) Other disclosures
(a) Information on significant transactions
(b) Information on investees
(c) Information on investment in Mainland China
(d) Information on major shareholders
(14) Segment information

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KPMG

台北市110615信義路5段7號68樓(台北101大樓) 電話 Tel + 886 2 8101 6666 68F., TAIPEI 101 TOWER, No. 7, Sec. 5, 傳真 Fax + 886 2 8101 6667 Xinyi Road, Taipei City 110615, Taiwan (R.O.C.) 網址 Web home.kpmg/tw

Independent Auditors’ Review Report

To the Board of Directors of China Metal Products Co., Ltd.:

Introduction

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

Scope of Review

Except as explained in the Basis for Qualified Conclusion paragraph, we conducted our reviews in accordance with Statement of Auditing Standards 65, “ Review of Financial Information Performed by the Independent Auditor of the Entity”. A review of the 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 conducted in accordance with the generally accepted auditing standards 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 stated in Note 4(b), the consolidated financial statements included the financial statements of certain nonsignificant subsidiaries, which were not reviewed by independent auditors. These financial statements reflect the total assets amounting to $4,146,854 thousand and $4,357,397 thousand, constituting 8.38% and 9.59% of the consolidated total assets; and the total liabilities amounting to $3,149,191 thousand and $3,595,855 thousand, constituting 9.87% and 12.27% of the consolidated total liabilities as of March 31, 2022 and 2021, respectively, as well as the total comprehensive income (loss) amounting to $51,239 thousand and $(8,996) thousand, constituting 6.19% and (7.34)% of the consolidated total comprehensive income (loss) for the three months ended March 31, 2022 and 2021, respectively.

Furthermore, as stated in Note 6(e), the other equity accounted investments of the Group in its investee companies of $883,528 thousand and $729,750 thousand as of March 31, 2022 and 2021, respectively, and its equity in net earnings on these investee companies of $(9,263) thousand and $(22,455) thousand for the three months ended March 31, 2022 and 2021, respectively, were recognized solely on the financial statements prepared by these investee companies, but not reviewed by independent auditors.

KPMG, a Taiwan partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

3-1

Qualified Conclusion

Except for the adjustments, if any, as might have been determined to be necessary had the financial statements of certain consolidated subsidiaries and equity accounted investee companies described in the Basis for Qualified Conclusion paragraph above been reviewed by independent auditors, 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 of March 31, 2022 and 2021, and of its consolidated financial performance and its consolidated cash flows for the three months ended March 31, 2022 and 2021 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, “Interim Financial Reporting” endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China.

The engagement partners on the reviews resulting in this independent auditors’ review report are Shih-Chin Chih and Kuo-Yang Tseng.

KPMG

Taipei, Taiwan (Republic of China) May 12, 2022

Notes to Readers

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

(English Translation of Consolidated Financial Statements Originally Issued in Chinese) Reviewed only, not audited in accordance with the generally accepted auditing standards as of March 31, 2022 and 2021

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES

Consolidated Balance Sheets

March 31, 2022, December 31, 2021, and March 31, 2021 (Expressed in Thousands of New Taiwan Dollars)

March 31, 2022 Assets Amount % Current assets: 1100 Cash and cash equivalents (Notes 6(a) and (aa)) $ 4,270,182 9 1170 Notes and accounts receivable, net (Notes 6(c), (x) and (aa)) 4,003,947 8 1180 Accounts receivable due from related parties, net (Notes 6(aa) and 7) 4,825 - 1200 Other receivables (Note 6(aa)) 97,064 - 1210 Other receivables due from related parties (Notes 6(aa) and 7) 13,346 - 130X Inventories (Notes 6(d), 8 and 9(a)) 19,870,597 40 1410 Prepayments (Note 9(a)) 224,272 - 1476 Other current financial assets (Notes 6(aa), 8 and 9(a)) 1,998,584 4 1479 Other current assets, others 342,772 1 1480 Incremental costs of obtaining contracts 335,618 1 Total current assets 31,161,207 63 Non-current assets: 1517 Non-current financial assets at fair value through other comprehensive income (Notes 6(b) and (aa)) 201,499 - 1550 Investments accounted for using equity method (Note 6(e)) 883,528 2 1600 Property, plant and equipment (Notes 6(h), 8 and 9(a)) 10,851,095 22 1755 Right-of-use assets (Note 6(i)) 2,015,708 4 1760 Investment property, net (Notes 6(j) and 8) 705,906 2 1780 Intangible assets (Note 6(k)) 412,280 1 1840 Deferred tax assets 40,399 - 1975 Non-current net defined benefit assets 14,551 - 1980 Other non-current financial assets (Notes 6(l), (aa), 7 and 9(a)) 686,984 1 1990 Other non-current assets, others (Notes 6(m), 7, 8 and 9(a)) 2,500,988 5 Total non-current assets 18,312,938 37 Total assets $ 49,474,145 100	December 31, 2021 Amount % 5,039,645 10 4,071,069 8 2,721 - 121,582 - 25,652 - 20,007,434 40 328,881 1 2,195,250 4 325,606 1 313,912 1 32,431,752 65 215,295 - 751,056 2 10,590,049 21 2,033,761 4 706,674 2 400,544 1 34,713 - 14,172 - 687,586 1 2,106,431 4 17,540,281 35 49,972,033 100	March 31, 2021 Amount % 3,696,663 8 3,875,511 8 3,673 - 72,665 - 49,831 - 18,876,337 42 275,144 1 1,479,111 3 326,366 1 298,625 1 28,953,926 64 255,364 1 729,750 2 10,326,609 23 2,172,054 5 708,979 1 398,785 1 36,984 - 13,479 - 683,022 1 1,163,349 2 16,488,375 36 45,442,301 100 March 31, 2022 Liabilities and equity Amount % Current liabilities: 2100 Short-term borrowings (Notes 6(n) and (aa)) $ 10,212,961 21 2130 Current contract liabilities (Notes 6(x), 7 and 9(a)) 3,802,837 8 2170 Notes and accounts payable (Notes 6(aa) and 7) 3,101,202 6 2180 Accounts payable due to related parties (Notes 6(aa) and 7) 25,507 - 2200 Other payables (Note 6(aa)) 1,628,077 4 2220 Other payables due to related parties (Notes 6(aa) and 7) 38,970 - 2230 Current income tax liabilities 91,129 - 2280 Current lease liabilities (Notes 6(q) and (aa)) 190,574 - 2322 Long-term borrowings, current portion (Notes 6(o) and (aa)) 1,043,153 2 2399 Other current liabilities (Note 6(t)) 140,658 - Total current liabilities 20,275,068 41 Non-current liabilities: 2500 Non-current financial liabilities at fair value through profit or loss(Notes 6(p) and (aa)) 4,622 - 2530 Bonds payable (Notes 6(p) and (aa)) 1,583,997 3 2540 Long-term borrowings (Notes 6(o) and (aa)) 7,448,079 15 2570 Deferred tax liabilities 493,085 1 2580 Non-current lease liabilities (Notes 6(q) and (aa)) 1,613,791 3 2640 Non-current net defined benefit liabilities 23,143 - 2670 Other non-current liabilities, others (Notes 6(r), (aa) and7) 449,409 1 Total non-current liabilities 11,616,126 23 Total liabilities 31,891,194 64 Equity attributable to owners of parent (Note 6(v)): 3100 Ordinary share 3,761,221 8 3200 Capital surplus(Notes 6(p)) 1,536,837 3 3300 Retained earnings 7,818,620 16 3400 Other equity 343,927 1 Total equity attributable to owners of parent: 13,460,605 28 36XX Non-controlling interests 4,122,346 8 Total equity 17,582,951 36 Total liabilities and equity $ 49,474,145 100	March 31, 2022		December 31, 2021		March 31, 2021
			Amount %		Amount %		Amount %
					9,071,826 18 3,620,534 7 3,394,708 7 26,827 - 1,931,916 4 30,003 - 81,833 - 179,629 - 1,612,105 4 138,402 - 20,087,783 40 - - - - 10,536,188 21 498,392 1 1,649,203 4 25,347 - 427,467 1 13,136,597 27 33,224,380 67 3,761,221 7 1,488,270 3 7,472,339 15 52,785 - 12,774,615 25 3,973,038 8 16,747,653 33 49,972,033 100		9,294,469 21 2,918,398 7 2,803,880 6 29,883 - 1,585,605 3 198 - 89,849 - 182,350 1 642,098 1 114,050 - 17,660,780 39 - - - - 8,921,111 20 600,300 1 1,768,969 4 28,555 - 329,387 1 11,648,322 26 29,309,102 65 3,761,221 8 1,487,802 3 6,824,849 15 44,445 - 12,118,317 26 4,014,882 9 16,133,199 35 45,442,301 100

See accompanying notes to consolidated financial statements.

(English Translation of Consolidated Financial Statements Originally Issued in Chinese) Reviewed only, not audited in accordance with generally accepted auditing standards

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES

Consolidated Statements of Comprehensive Income

For the Three Months Ended March 31, 2022 and 2021

(Expressed in Thousands of New Taiwan Dollars, Except for Earnings Per Common Share)

4000 Operating revenues (Notes 6(x) and 7) 5000 Operating costs (Notes 6(d),(t) and 7) Gross profit from operations Operating expenses (Note 6(t) and 7): 6100 Selling expenses 6200 Administrative expenses (Note 6(y)) 6300 Research and development expenses 6450 Expected credit gains (Note 6(c)) Total operating expenses Net operating income Non-operating income and expenses: 7100 Interest income (Notes 6(z) and 7) 7010 Other income (Notes 6(z) and 7) 7020 Other gains and losses (Notes 6(g), (p) and (z)) 7050 Finance costs (Note 6(z)) 7060 Share of loss of associates and joint ventures accounted for using equity method, net (Note 6(e)) Total non-operating income and expenses Profit from continuing operations before tax 7950 Less: Tax expense (Note 6(u)) 8200 Net profit 8300 Other comprehensive income: 8310 Items that may not be reclassified subsequently to profit or loss: 8316 Unrealized losses from investments in equity instruments measured at fair value through other comprehensive income (Notes 6(v) and (aa)) 8349 Less:Income tax related to components of other comprehensive income that will not be reclassified to profit or loss Total items that may not be reclassified subsequently to profit or loss 8360 Items that may be reclassified subsequently to profit or loss: 8361 Exchange differences on translation of foreign financial statements (Note 6(v)) 8399 Less:Income tax related to components of other comprehensive income that will be reclassified to profit or loss Total items that may be reclassified subsequently to profit or loss 8300 Other comprehensive income (after tax) 8500 Comprehensive income Net profit, attributable to: 8610 Owners of parent 8620 Non-controlling interests Comprehensive income attributable to: 8710 Owners of parent 8720 Non-controlling interests Earnings per share (expressed in dollars) (Note 6(w)) 9750 Basic earnings per share 9850 Diluted earnings per share	For the Three M Marc	onths Ended h 31 2021 Amount % 3,609,713 100 (2,757,188) (76) 852,525 24 (156,786) (5) (367,545) (10) (3,625) - 312 - (527,644) (15) 324,881 9 17,464 1 22,161 1 (10,779) - (55,494) (2) (22,455) (1) (49,103) (1) 275,778 8 (55,162) (2) 220,616 6 (2,683) - - - (2,683) - (95,293) (3) - - (95,293) (3) (97,976) (3) 122,640 3 173,509 5 47,107 1 220,616 6 91,923 2 30,717 1 122,640 3 0.46
	2022 Amount % $ 4,595,532 100 (3,491,583) (76) 1,103,949 24 (144,427) (3) (412,709) (9) (2,806) - 101 - (559,841) (12) 544,108 12 7,791 - 22,808 - 19,626 - (51,649) (1) (9,263) - (10,687) (1) 533,421 11 (62,035) (1) 471,386 10 (5,796) - - - (5,796) - 362,441 8 - - 362,441 8 356,645 8 $ 828,031 18 $ 346,281 7 125,105 3 $ 471,386 10 $ 637,423 14 190,608 4 $ 828,031 18 $ 0.92 $ 0.92
		0.46

See accompanying notes to consolidated financial statements.

(English Translation of Consolidated Financial Statements Originally Issued in Chinese) Reviewed only, not audited in accordance with generally accepted auditing standards

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES

Consolidated Statements of Changes in Equity

For the Three Months Ended March 31, 2022 and 2021

(Expressed in Thousands of New Taiwan Dollars)

		Equity Attributable to Owners of	Equity Attributable to Owners of	Equity Attributable to Owners of	Equity Attributable to Owners of	Parent	Parent	Parent			Non- Controlling Interests	Total Equity
Share Capital	Capital Surplus	Retained Earnings				Other Equity			Total Equity Attributable to Owners of Parent
						Exchange Differences on Translation of Foreign Financial Statements	Unrealized Gains (Losses) from Financial Assets Measured at Fair Value Through Other Comprehensive Income
Ordinary Share		Legal Reserve		Special Reserve	Unappropriated Retained Earnings
$ 3,761,221 - - - - - $ 3,761,221 $ 3,761,221 - - - - - - - $ 3,761,221	1,487,802		1,801,169	56,109	4,794,062	32,198		93,833		12,026,394	3,975,678 47,107 (16,390) 30,717 9,290 (803) 4,014,882 3,973,038 125,105 65,503 190,608 - - (87) (41,213) 4,122,346	16,002,072
	- -		- -	- -	173,509 -							220,616 (97,976)
	-		-	-	173,509							122,640
	- -		- -	- -	- -							9,290 (803)
	1,487,802		1,801,169	56,109	4,967,571							16,133,199
	1,488,270		1,844,008	49,081	5,579,250							16,747,653
	- -		- -	- -	346,281 -							471,386 356,645
	-		-	-	346,281							828,031
	5 48,562 - -		- - - -	- - - -	- - - -							5 48,562 (87) (41,213)
	1,536,837		1,844,008	49,081	5,925,531							17,582,951

See accompanying notes to consolidated financial statements.

(English Translation of Consolidated Financial Statements Originally Issued in Chinese) Reviewed only, not audited in accordance with generally accepted auditing standards

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES

Consolidated Statements of Cash Flows

For the Three Months Ended March 31, 2022 and 2021

(Expressed in Thousands of New Taiwan Dollars)

Cash flows from operating activities: Profit before tax Adjustments: Adjustments to reconcile profit (loss): Depreciation expense Amortization expense Expected credit gains Net losses on financial assets or liabilities at fair value through profit or loss Interest expense Interest income Share of losses of associates and joint ventures accounted for using equity method Losses on disposal of property, plant and equipment Property, plant and equipment transferred to expenses Losses on disposal of investment accounted for using equity method Lease modification gains Effect of exchange rate changes on short-term and long-term borrowings Total adjustments to reconcile profit Changes in operating assets and liabilities: Changes in operating assets: Notes and accounts receivable, net Accounts receivable due from related parties, net Other receivables Inventories Prepayments Other current assets Other financial assets Incremental costs of obtaining contracts Total changes in operating assets Changes in operating liabilities: Notes and accounts payable (including related parties), net Other payables Current contract liabilities Other current liabilities Other non-current liabilities Total changes in operating liabilities Total changes in operating assets and liabilities Total adjustments Cash inflow generated from operations Interest received Dividends received Interest paid Income taxes paid Net cash flows generated from operating activities Cash flows from investing activities: Acquisition of financial assets at fair value through other comprehensive income Proceeds from capital reduction of financial assets at fair value through other comprehensive income Acquisition of investments accounted for using equity method Proceeds from disposal of the subsidiary (net effect of cash) Acquisition of property, plant and equipment Proceeds from disposal of property, plant and equipment Acquisition of intangible assets Decrease in other financial assets Increase in other non-current assets Net cash flows used in investing activities Cash flows from financing activities: Increase in short-term borrowings Decrease in short-term borrowings Increase in short-term notes and bills payable Proceeds from issuing bonds Proceeds from long-term borrowings Repayments of long-term borrowings Payment of lease liabilities Increase in other non-current liabilities Change in non-controlling interests Net cash flows used in financing activities Effect of exchange rate changes on cash and cash equivalents Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period	For the Three Month	s Ended March 31 2021 275,778 254,695 1,228 (312) - 55,494 (17,464) 22,455 223 50 5,013 (8) 5,386
	2022 $ 533,421 256,144 1,430 (101) 330 51,649 (7,791) 9,263 2,196 234 - - (5,150) 308,204 194,551 (868) 61,020 236,898 106,077 (13,724) 199,602 (21,706) 761,850 (378,901) (323,720) 184,604 (6,669) (4,679) (529,365) 232,485 540,689 1,074,110 4,287 10,824 (72,739) (75,976) 940,506 - 8,000 (150,000) - (179,485) 559 - 549 (430,894) (751,271) 3,797,799 (2,768,376) 39,841 1,644,717 900,000 (4,602,019) (49,133) 1,066 (96) (1,036,201) 77,503 (769,463) 5,039,645 $ 4,270,182
		326,760
		(94,007) (3,285) 199,021 (566,589) (30,094) (58,440) 83,547 (75,583)
		(545,430)
		181,968 (76,888) 426,035 14,193 (7,004)
		538,304
		(7,126)
		319,634
		595,412 14,017 324 (68,848) (46,000)
		494,905
		(460) - - 3,632 (390,772) 187 (737) 882 (385,135)
		(772,403)
		2,977,722 (1,761,898) 90,056 - 1,045,920 (2,516,991) (49,601) 2,923 -
		(211,869)
		(27,775) (517,142) 4,213,805
		3,696,663

See accompanying notes to consolidated financial statements.

(English Translation of Consolidated Financial Statements Originally Issued in Chinese) Reviewed only, not audited in accordance with generally accepted auditing standards

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

For the Three Months Ended March 31, 2022 and 2021

(Expressed in Thousands of New Taiwan Dollars, unless otherwise specified)

(1) Company history

CHINA METAL PRODUCTS CO., LTD. (the “Company”) was established on September 9, 1972, via Ministry of Economic Affairs’ authorization. The registered office is located at 4F, No. 85, Section 4, Ren’ai Road, Taipei. The major business activities of the Company and its subsidiaries (the “Group”) are iron hardware manufacturing and casting, residents and commercial buildings developing, leasing and selling, international hotel servicing and department store retailing. Please refer to Note 14, for the aforementioned information.

(2) Approval date and procedures of the consolidated financial statements:

The accompanying consolidated financial statements were authorized for issue by the Board of Directors on May 12, 2022 .

(3) New standards, amendments and interpretations adopted:

(a) The impact of the International Financial Reporting Standards (“IFRSs”) endorsed by the Financial Supervisory Commission, R.O.C.(“FSC”) which have already been adopted.

The Group has initially adopted the following new amendments, which do not have a significant impact on its consolidated financial statements, from January 1, 2022:

●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 IFRS Standards 2018–2020
●Amendments to IFRS 3 “Reference to the Conceptual Framework”
(b) The impact of IFRS issued by IASB but not yet endorsed by the FSC

The Group does not expect the following new and amended standards, which have yet to be endorsed by the FSC, to have a significant impact on its consolidated financial statements:

●Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets Between an Investor and Its Associate or Joint Venture”
●IFRS 17 “ Insurance Contracts” and amendments to IFRS 17 “ Insurance Contracts”
●Amendments to IAS 1 “Classification of Liabilities as Current or Non-current”
●Amendments to IAS 1 “Disclosure of Accounting Policies”
●Amendments to IAS 8 “Definition of Accounting Estimates”
●Amendments to IAS 12 “Deferred Tax related to Assets and Liabilities arising from a Single Transaction”

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(4) Summary of significant accounting policies

(a) Statement of compliance

These consolidated financial statements have been prepared in accordance with the preparation and guidelines of IAS 34 “Interim Financial Reporting” which are endorsed and issued into effect by FSC, and do not include all of the information required by the Regulations and International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations and SIC Interpretations endorsed and issued into effect by the FSC (hereinafter referred to IFRS endorsed by the FSC) for a complete set of the annual consolidated financial statements.

Except the following accounting policies mentioned below, the significant accounting policies adopted in the consolidated financial statements are the same as those in the consolidated financial statement for the year ended December 31, 2021. For the related information, please refer to Note 4 of the consolidated financial statements for the year ended December 31, 2021.

(b) Basis of consolidation

Principles of preparation of the consolidated financial statements are the same as those of the consolidated financial statements for the year ended December 31, 2021. For the related information, please refer to Note 4(c) of the consolidated financial statements for the year ended December 31, 2021.

(i) List of subsidiaries in the consolidated financial statements

Investor	Name of Subsidiary	Principal Activity	Percentage Ownership March 31, 2022 December 31, 2021 March 31, 2021 Note % 100.00 % 100.00 % 100.00 Note 2 % 85.51 % 85.51 % 85.51 Note 1 % 99.01 % 99.00 % 99.00 Note 1 % 100.00 % 100.00 % 100.00 Note 1 % 100.00 % 100.00 % 94.00 Note 1 % 83.33 % 83.33 % 83.33 Note 1 % 100.00 % 100.00 % 100.00 Note 1 % 71.72 % 71.72 % 71.72 Note 2 % 100.00 % 100.00 % 100.00 Note 1	Percentage Ownership March 31, 2022 December 31, 2021 March 31, 2021 Note % 100.00 % 100.00 % 100.00 Note 2 % 85.51 % 85.51 % 85.51 Note 1 % 99.01 % 99.00 % 99.00 Note 1 % 100.00 % 100.00 % 100.00 Note 1 % 100.00 % 100.00 % 94.00 Note 1 % 83.33 % 83.33 % 83.33 Note 1 % 100.00 % 100.00 % 100.00 Note 1 % 71.72 % 71.72 % 71.72 Note 2 % 100.00 % 100.00 % 100.00 Note 1
				December 31, 2021
The Company The Company and Sunflower Investment The Company The Company The Company The Company The Company The Company and Sunflower Investment The Company and PUJEN Land Development	United Elite Agents Limited (UEA) Atrans Precision Industries Co., Ltd. (Atrans Precision) Sunflower Investment Co., Ltd. (Sunflower Investment) The Hotel National Co., Ltd. (The Hotel National) CHINA METAL AUTOMOTIVE INTERNATIONAL CO., LTD. (CMAI) CMJ CO., LTD. (CMJ) (Note 3) National Management Co., Ltd. (National Management) PUJEN Land Development Co., Ltd. (PUJEN Land Development) Shangrila Tourism Co., Ltd. (Shangrila Tourism)	Investing Vehicle parts processing Investing International tourist hotel services and other hotel business approved by the Ministry of Transportation and Communications Vehicle parts retailing Cast iron product retailing Management and consulting services Residents, commercial buildings and factories leasing and developing Amusement park and hotel services	% 100.00 % 85.51 % 99.01 % 100.00 % 100.00 % 83.33 % 100.00 % 71.72 % 100.00	% 100.00 % 85.51 % 99.00 % 100.00 % 100.00 % 83.33 % 100.00 % 71.72 % 100.00

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

Investor	Name of Subsidiary	Principal Activity	Percentage Ownership March 31, 2022 December 31, 2021 March 31, 2021 Note % 100.00 % 100.00 % 100.00 Note 1 % 100.00 % 100.00 % 100.00 Note 1 % 83.27 % 83.27 % 82.55 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Notes 2 % 100.00 % 100.00 % 100.00 Note 1 % 100.00 % 100.00 % 100.00 Note 1 % 50.00 % 50.00 % 50.00 Note 1 % 70.00 % 70.00 % 70.00 Note 1 % 50.00 % 50.00 % 50.00 Note 1 % 100.00 % 100.00 % 100.00 Note 1 % 100.00 % 100.00 % 100.00 Note 1 % 100.00 % 100.00 % 100.00 Note 1	Percentage Ownership March 31, 2022 December 31, 2021 March 31, 2021 Note % 100.00 % 100.00 % 100.00 Note 1 % 100.00 % 100.00 % 100.00 Note 1 % 83.27 % 83.27 % 82.55 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Note 2 % 100.00 % 100.00 % 100.00 Notes 2 % 100.00 % 100.00 % 100.00 Note 1 % 100.00 % 100.00 % 100.00 Note 1 % 50.00 % 50.00 % 50.00 Note 1 % 70.00 % 70.00 % 70.00 Note 1 % 50.00 % 50.00 % 50.00 Note 1 % 100.00 % 100.00 % 100.00 Note 1 % 100.00 % 100.00 % 100.00 Note 1 % 100.00 % 100.00 % 100.00 Note 1
				December 31, 2021
The Company The Company UEA CMI CMI CMI CMB (H.K.) CMI (BVI) CMP (H.K.) CMP (H.K.) CMW (C.I.) CMW (C.I.) CMJ Atrans Precision PUJEN Land Development PUJEN Land Development PUJEN Land Development CMAI CMAI Holding Pilot	InterContinental Taichung Co., Ltd. (InterContinental Taichung) Calligraphy Greenway Plaza Co., Ltd. (Calligraphy Greenway Plaza) China Metal International Holdings Inc. (CMI) China Metal International (BVI) Limited (CMI (BVI)) CMW (Cayman Islands) Co., Ltd. (CMW (C.I.)) CMB (H.K.) Co., Ltd. (CMB (H.K.)) Suzhou CMB Machinery Co., Ltd. (Suzhou CMB) CMP (H.K.) Industry Co., Ltd. (CMP (H.K.)) Tianjin CMT Industry Co., Ltd. (Tianjin CMT) Suzhou CMS Machinery Co., Ltd. (Suzhou CMS) CMW (Tianjin) Industry Co., Ltd. (CMW (Tianjin)) CMI (Wu Han) Precision Machinery Co., Ltd. (CMH) Qingdao Sourcing Specialists Trading Co., Ltd. (Qingdao Sourcing Specialists) FAR HSING (SAMOA) ENTERPRISE CO., LTD. (FAR HSING (SAMOA)) CHINGENG Land Development Co., Ltd. (CHINGENG Land Development) PUJEN CHENGMEI Land Development Co., Ltd. (PUJEN CHENGMEI Land Development) PUCHIA Land Development Co., Ltd. (PUCHIA Land Development) CMAI Holding, Inc. (CMAI Holding) Pilot Drive LLC (Pilot) CMAI INDUSTRIES, INC. (CMAI N.A.)	International tourist hotel services Management and consulting services Investing and cast iron product retailing Investing Investing Investing Cast iron product designing, manufacturing and retailing Investing Cast iron products, machine parts and vehicle parts designing, developing, manufacturing and selling Vehicle parts, E&M as- casting and finished product developing, manufacturing and selling Vehicle parts, E&M as- casting and finished product developing, manufacturing and selling Vehicle parts, farm wagon parts, industrial wagon parts, household appliances parts and E&M as-casting and molds developing, manufacturing, selling and the after sales services Cast iron product retailing Investing Residents, commercial buildings and factories leasing and developing Residents, commercial buildings and factories leasing and developing Residents, commercial buildings and factories leasing and developing Investing Assets leasing Vehicle parts retailing	% 100.00 % 100.00 % 83.27 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 50.00 % 70.00 % 50.00 % 100.00 % 100.00 % 100.00	% 100.00 % 100.00 % 83.27 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 50.00 % 70.00 % 50.00 % 100.00 % 100.00 % 100.00

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

Note 1: An non-significant subsidiary, its financial statements have not been reviewed.

Note 2: The financial statements have been reviewed. Note 3: The former name was “CHINA METAL JAPAN COMPANY LIMITED”.

(ii) Subsidiaries excluded from the consolidated financial statements: None.

(c) Income taxes

The income tax expenses have been prepared and disclosed in accordance with paragraph B12 of International Financial Reporting Standards 34, Interim Reporting.

Income tax expenses for the period are best estimated by multiplying pre-tax income for the interim reporting period by the effective annual tax rate which is forecasted by the management. This should be recognized fully as tax expense for the current period.

Temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their respective tax bases shall be measured based on the tax rates that have been enacted or substantively enacted at the time of the asset or liability is recovered or settled, and be recognized directly in equity or other comprehensive income as tax expense.

(d) Employee benefits

The pension cost for the interim period was calculated and disclosed on a year-to-date basis by using the actuarially determined pension cost rate at the end of the prior fiscal year, and be adjusted by the significant market flotation, significant curtailment, settlement or other significant single occasions.

(5) Significant accounting assumptions and judgments, and major sources of estimation uncertainty:

The preparation of the consolidated financial statements in conformity with the Regulations and IFRSs (in accordance with IAS 34 “Interim Financial Reporting” and endorsed by the FSC) requires management to make judgments, estimates and assumptions that affect the application of the accounting policies and the reported amount of assets, liabilities, income and expenses. Actual results may differ from these estimates.

The preparation of the consolidated interim financial statements, estimates and underlying assumptions are reviewed on an ongoing basis which are in conformity with the consolidated financial statements for the year ended December 31, 2021. For the related information, please refer to Note 5 of the consolidated financial statements for the year ended December 31, 2021.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(6) Explanation of significant accounts:

Except for the following disclosures, there is no significant difference as compared with those disclosed in the consolidated financial statements for the year ended December 31, 2021. Please refer to Note 6 of the 2021 annual consolidated financial statements.

(a) Cash and cash equivalents

Cash and cash equivalents
Cash on hand Cash in banks Time deposits Cash and cash equivalents	March 31, 2022 $ 6,937 3,774,464 488,781 $ 4,270,182	December 31, 2021 7,421 4,412,238 619,986 5,039,645	March 31, 2021
			6,936 2,260,755 1,428,972
			3,696,663

Please refer to Note 6(aa) for the sensitivity analysis of the financial assets.

(b) Non-current financial assets at fair value through other comprehensive income

Equity investments at fair value through other comprehensive income Stocks listed on domestic markets— Yung Tay Engineering Co., Ltd. Stocks unlisted on domestic markets— MEITA Industrial Co., Ltd. Stocks unlisted on domestic markets— YUHUA Venture Capital Co., Ltd. Stocks unlisted on domestic markets— FUHUA Venture Capital Co., Ltd. Stocks unlisted on domestic markets— GUANGYUAN Investment Co., Ltd. Stocks unlisted on domestic markets— DEVELOPMENT Venture Capital Co., Ltd. Total	March 31, 2022 $ 37,016 115,049 194 637 31,362 17,241 $ 201,499	December 31, 2021 36,901 119,433 207 674 33,824 24,256 215,295	March 31, 2021
			60,540 135,300 435 1,574 31,580 25,935
			255,364

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(i) The Group holds the equity investments for long-term strategic purposes, rather than transaction purposes. Therefore, the investments are measured at FVOCI.
(ii) The Group did not dispose the strategic investments during the first quarter of 2022 and 2021. Therefore, the accumulated income and loss was not transferred in equity.
(iii) Please refer to Note 6(aa) for the information on credit risk (including the impairment of debt instrument investments) and market risk.
(iv) As of March 31, 2022, December 31 and March 31, 2021, the financial assets were not pledged as collateral.
(c) Notes and accounts receivable

Notes receivable from operating activities Accounts receivable measured as amortized cost Subtotal Less: Loss allowance Total	March 31, 2022 $ 485,064 3,522,607 4,007,671 (3,724) $ 4,003,947	December 31, 2021 472,727 3,602,106 4,074,833 (3,764) 4,071,069	March 31, 2021 434,563 3,443,754 3,878,317 (2,806) 3,875,511

The Group applies the simplified approach to estimate its expected credit losses, which permit the use of lifetime expected loss provision for all receivables. To measure the expected credit losses, notes and accounts receivable have been grouped based on shared credit risk characteristics and the days past due, as well as forward-looking information including macroeconomics and relative industries information. The loss allowance provision is determined as follows:

	March 31, 2022
Gross Carrying Amount $ 3,730,945 158,163 95,684 19,152 2,353 1,374 $ 4,007,671	Weighted Average Loss Rate 0% 0% 0% 0%~13.5% 35.48%~43.37% 100%	Loss Allowance Provision
		- - - 1,338 1,012 1,374
		3,724

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

December 31, 2021	December 31, 2021
Gross Carrying Amount	Weighted Average Loss Rate 0% 0% 0% 0%~13.5% 35.48%~43.37% 100% March 31, 2021	Loss Allowance Provision
$ 3,891,446 133,925 38,535 6,019 3,422 1,486 $ 4,074,833		- - - 807 1,471 1,486
		3,764

Gross Carrying Amount	Weighted Average Loss Rate 0% 0% 0%~6% 0%~10.54% 25.08%~32.97% 100%	Loss Allowance Provision
$ 3,713,687 136,931 20,647 5,611 588 853 $ 3,878,317		- - 1,204 561 188 853
		2,806

The movements in the allowance for notes and accounts receivable is as follows:

Balance on January 1 Impairment recovery recognized Foreign exchange losses Balance on March 31	For the Three Months Ended March 31 2022 2021 $ 3,764 3,120 (101) (312) 61 (2) $ 3,724 2,806
	2022 $ 3,764 (101) 61 $ 3,724

The financial assets mentioned above were not pledged as collateral.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(d) Inventories

Raw materials Work in process Semi-finished goods Finished goods Merchandise Land held for development Properties and land held for sale Construction-in-progress Prepayments for land Other inventories	March 31, 2022 $ 262,146 320,329 137,350 1,656,667 96,529 7,629,110 398,880 8,902,005 253,696 213,885 $ 19,870,597	December 31, 2021 227,769 380,486 136,793 1,535,036 90,107 7,553,256 1,367,387 8,268,758 239,924 207,918 20,007,434	March 31, 2021
			141,602 270,006 125,725 938,906 56,681 6,082,711 2,035,000 8,738,443 166,995 320,268
			18,876,337

For the three months ended March 31, 2022 and 2021, the cost of goods sold amounted to $3,491,583 thousand and $2,757,188 thousand, respectively. For the three months ended March 31, 2022 and 2021, the reversal gain from the increase in inventories' net realizable value amounted to $8,813 thousand and $1,865 thousand, respectively.

For the information on inventories pledged as collateral, as of March 31, 2022, December 31 and March 31, 2021, please refer to Note 8.

(e) Investments accounted for using equity method

The components of investments accounted for using the equity method at the reporting date is as follows:

Associates Joint ventures	March 31, 2022 $ 529,627 353,901 $ 883,528	December 31, 2021 537,067 213,989 751,056	March 31, 2021
			451,958 277,792
			729,750

(i) Associates

Due to the fact that the Group does not have the obligation of assuming the excess losses, it ceased the recognition of the losses from the investment of Amida Trustlink Assets Management Co., Ltd. (Amida Trustlink Assets). For the three months ended March 31, 2022 and 2021, the unrealized investment losses amounted to $73 thousand and $71 thousand, respectively; the accumulated unrealized investment losses, as of March 31, 2022 and 2021, amounted to $57,841 thousand and $57,479 thousand, respectively.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

The Group’s financial information for investments accounted for using the equity method that were individually insignificant is as follows:

March 31, 2022 $ 529,627 $ $	December 31, 2021 March 31, 2021 537,067 451,958 For the Three Months Ended March 31 2022 2021 826 (4,265) - - 826 (4,265)	March 31, 2021
		451,958

	2022 826 - 826
$ $

(ii) Joint ventures

The Group’s financial information for joint ventures accounted for using the equity method that were individually insignificant is as follows:

Carrying amount of individually insignificant joint ventures' equity Attributable to the Group: Net loss Other comprehensive income Comprehensive income	March 31, 2022 $ 353,901 $ $	March 31, 2022 $ 353,901 $ $	March 31, 2022 $ 353,901 $ $	December 31, 2021 March 31, 2021 213,989 277,792 For the Three Months Ended March 31 2022 2021 (10,089) (18,190) - - (10,089) (18,190)

				2022 (10,089) - (10,089)
			$ $

(iii) Pledge to secure

As of March 31, 2022, December 31 and March 31, 2021, the investments accounted for using equity method were not pledged as collateral.

(iv) The unreviewed financial statements of investments accounted for using equity method

The investments were accounted for by the equity method, and the share of profit or loss and other comprehensive income of those investments were calculated based on the financial statements that have not been reviewed.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(f) Changes in a parent's ownership interest in a subsidiary
(i) Acquisition of additional shares interests of subsidiary

For the three months ended March 31, 2022 the Group obtained Sunflower Investment additional equity on $96 thousand, increasing the percentage ownership from 99.00% to 99.01%.

The information on the influence of subsidiaries’ equities variation to the Group’s equity is as follows:

Acquisition of non-controlling interests Payment to non-controlling interests Difference between consideration and carrying amount of subsidiaries acquired or disposed of	For the Three Months Ended March 31 2022 Sunflower Investment $ 101 (96) $ 5

(g) Loss of control over a subsidiary

The Group had sold 50% of its shares in Pu Sheng Construction Co., Ltd. wherein the proceeds of $4,614 thousand on March 31, 2021, resulted in a loss of control over the Pu Sheng Construction and a loss on disposal of investment amounting to $5,013 thousand.

(h) Property, plant and equipment

The cost and accumulated depreciation of the property, plant equipment of the Group for the three months ended March 31, 2022 and 2021 are as follows:

Buildings	Prepayments for Equipment and Construction in Progress	Total 19,117,077 179,485 (67,620) 42,247 521,621
3,840,120 1,092 - - 108,899 3,950,111 3,445,580 - (1,756) 676 (21,082) 3,423,418	1,321,500 123,039 - (95,960) 46,103 1,394,682 1,202,077 334,480 - 11,496 (13,473) 1,534,580
		19,792,810
		18,231,631 390,772 (75,298) 28,304 (116,456)
		18,458,953

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

Land	Buildings	Other Equipment Prepayments for Equipment and Construction in Progress 512,370 - 17,893 - (12,069) - 11,072 - 529,266 - 518,040 - 15,245 - (30,275) - - - (2,518) - 500,492 - 217,519 1,321,500 242,296 1,394,682 182,207 1,202,077 172,131 1,534,580	Total 8,527,028 202,279 (64,865) 277,273
$ - - - -	1,539,755 28,586 - 37,684 1,606,025 1,448,672 25,484 (1,756) - (8,186) 1,464,214 2,300,365 2,344,086 1,996,908 1,959,204	- - - -
$ -		-	8,941,715
$ - - - - -		- - - - -	8,067,068 201,923 (74,888) - (61,759)
$ -		-	8,132,344
		1,321,500	10,590,049
		1,394,682	10,851,095
		1,202,077	10,164,563
		1,534,580	10,326,609

As of March 31, 2022, December 31 and March 31, 2021, please refer to Note 8 for the details of property, plant and equipment pledged as collateral for the Group’s long-term loan and financing guarantee.

(i) Right-of-use assets

The cost and accumulated depreciation of the right-of-use assets, which includes land, buildings, machinery and transportation equipment rented by the Group, for the three months ended March 31, 2022 and 2021 are as follows:

Cost: Balance on January 1, 2022 Additions Reduction for expiration Influence from exchange rates Balance on March 31, 2022 Balance on January 1, 2021 Additions Reduction for expiration Influence from exchange rates Balance on March 31, 2021 Accumulated depreciation: Balance at January 1, 2022 Depreciation Transferred to construction cost Reduction for expiration Influence from exchange rates Balance on March 31, 2022	Land $ 1,004,772 - - 13,244 $ 1,018,016 $ 1,007,888 - - (3,116) $ 1,004,772 $ 177,882 5,897 - - 3,579 $ 187,358	Buildings 2,393,697 8,802 (420) 190 2,402,269 2,394,673 1,092 (1,091) - 2,394,674 1,317,008 40,690 210 (420) 13 1,357,501	Machinery 47,835 15,593 (33,868) 1,114 30,674 48,195 - - (359) 47,836 39,869 4,021 - (33,868) 640 10,662	Transportation Equipment 23,183 540 - 24 23,747 17,318 2,645 (1,863) 1 18,101 7,254 1,493 - - 25 8,772	Office Equipment 2,046 - - 19 2,065 2,228 723 (866) 1 2,086 966 110 - - 15 1,091	Other Equipment 122,673 - - - 122,673 122,262 - - - 122,262 17,466 886 - - - 18,352	Total 3,594,206 24,935 (34,288) 14,591 3,599,444 3,592,564 4,460 (3,820) (3,473) 3,589,731 1,560,445 53,097 210 (34,288) 4,272 1,583,736

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

Balance on January 1, 2021 Depreciation Transferred to construction cost Reduction for expiration Influence from exchange rates Balance on March 31, 2021 Carrying value: Balance on January 1, 2022 Balance on March 31, 2022 Balance on January 1, 2021 Balance on March 31, 2021	Land $ 155,174 5,885 - - (786) $ 160,273 $ 826,890 $ 830,658 $ 852,714 $ 844,499	Buildings 1,158,342 40,196 183 (1,091) - 1,197,630 1,076,689 1,044,768 1,236,331 1,197,044	Machinery 29,119 3,531 - - (255) 32,395 7,966 20,012 19,076 15,441	Transportation Equipment 12,171 1,396 - (1,863) 1 11,705 15,929 14,975 5,147 6,396	Office Equipment 1,122 109 - (562) 1	Other Equipment 14,117 887 - - - 15,004 105,207 104,321 108,145 107,258	Total 1,370,045 52,004 183 (3,516) (1,039) 1,417,677 2,033,761 2,015,708 2,222,519 2,172,054
					670
					1,080
					974
					1,106
					1,416

(j) Investment property

Investment property comprises office buildings that are leased to third parties under operating leases, as well as properties that are owned by the Group. The leases of investment properties contain an initial non-cancellable lease term of 5 to 10 years. Some leases provide the lessees with options to extend at the end of the term.

For all investment property leases, the rental income is fixed under the contracts, but some leases require the lessee to reimburse the insurance costs of the Group. When this is the case, the amounts of insurance costs are determined annually.

The movements in the investment property is as follows:

Carrying value: Balance on January 1, 2022 Balance on March 31, 2022 Balance on January 1, 2021 Balance on March 31, 2021	Owned Property Land Buildings $ 609,567 97,107 $ 609,567 96,339 $ 593,697 97,459 $ 609,567 99,412	Total
	Land $ 609,567 $ 609,567 $ 593,697 $ 609,567
		706,674
		705,906
		691,156
		708,979

Investment properties comprise a number of commercial properties that are leased to third parties. Each leasing contact includes an original non-cancelable lease term of one to three years, and the lease term of the renewal is available for discussion with the lessee. The contingent rent is not charged in the contract. Please refer to Note 6(s) for the regarding information.

There were no significant additions, disposal, or recognition and reversal of impairment losses of investment properly for the three months ended March 31, 2022 and 2021. Information on depreciation for the period is discussed in Note 12(c), and for the information on rental revenue and other direct operating expense, please refer to Note 6(s).

The fair value of the investment property was not significantly different from those disclosed in the Note 6(j) of the annual consolidated financial statements for the year ended December 31, 2021.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

As of March 31, 2022, December 31 and March 31, 2021, the details of investment properties pledged as collateral, please refer to Note 8.

(k) Intangible assets

The movements in the costs of intangible assets and amortization of the Group are as follows:

Cost: Balance on January 1, 2022 Influence from exchange rates Balance on March 31, 2022 Balance on January 1, 2021 Acquisitions Reclassification Influence from exchange rates Balance on March 31, 2021 Accumulated amortization: Balance on January 1, 2022 Amortization Influence from exchange rates Balance on March 31, 2022 Balance on January 1, 2021 Amortization Influence from exchange rates Balance on March 31, 2021 Carrying value: Balance on January 1, 2022 Balance on March 31, 2022 Balance on January 1, 2021 Balance on March 31, 2021	Goodwill $ 385,268 13,166 $ 398,434 $ 390,862 - - (1,870) $ 388,992 $ - - - $ - $ - - - $ - $ 385,268 $ 398,434 $ 390,862 $ 388,992	Patent 63,088 2,471 65,559 63,669 - - (581) 63,088 63,088 - 2,471 65,559 63,669 - (581) 63,088 - - - -	Client Relationship 227,751 8,921 236,672 229,850 - - (2,099) 227,751 227,751 - 8,921 236,672 229,850 - (2,099) 227,751 - - - -	Computer Software 43,337 103 43,440 32,878 737 383 7 34,005 28,061 1,430 103 29,594 22,978 1,228 6 24,212 15,276 13,846 9,900 9,793	Total 719,444 24,661 744,105 717,259 737 383 (4,543) 713,836 318,900 1,430 11,495 331,825 316,497 1,228 (2,674) 315,051 400,544 412,280 400,762 398,785

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(l) Other non-current financial assets

Debt obligation receivable－The Splendor Hospitality International Co., Ltd. Debt obligation receivable－Chin Ling Steel Co., Ltd.－Non-guaranteed Less: Accumulated impairment－Debt obligation receivable－Chin Ling Steel Co., Ltd. Refundable deposits	March 31, 2022 $ 575,000 23,250 (23,250) 111,984 $ 686,984	December 31, 2021 575,000 23,250 (23,250) 112,586 687,586	March 31, 2021 575,000 23,250 (23,250) 108,022 683,022

(i) In June, 2006, the Group and Prince Housing and Development Co., Ltd. (Prince Housing and Development) entered into an assignment of debt agreement with Amida Trustlink Assets which the Group and Prince Housing and Development each owned half of the obligation. The Group and Prince Housing and Development each injected 50% and obtained the major mortgages, collateral, and the appurtenant rights of Taichung Port Splendor Hospitality International Co., Ltd. (Taichung Port Splendor). The Group and Prince Housing and Development agreed to pay Amida Trustlink Assets the residual debt in the agreement, the related costs and returns when the real right of the underlying is completed. The Group and Prince Housing and Development each injected 50% and cofounded The Splendor Hospitality International Co., Ltd. (The Splendor Hospitality International). In November 2006, The Splendor Hospitality International and Taichung Port Splendor entered into a specific asset transfer agreement and obtained the specific assets of Taichung Port Splendor by assuming its debts. The Group’ s right of receivables transferred from Taichung Port Splendor to The Splendor Hospitality International. In December 2006, the Group and Prince Housing and Development signed a supplementary agreement with Amida Trustlink Assets which increased the selling price of all debt obligations and canceled the payment of the related cost and return. The verdinglichung obligatorischer rechte was assumed by the Group and Prince Housing and Development equally. The details of total debt obligation receivable and obligation cost after deducted the received amount in 2007 is as follows:

March 31, 2022

				March 31, 2022
Underlying	Obligation Cost		Obligation Principal	Valuation Assessment Collateral According to the assessment of Zhonglian Real Estate Appraiser Joint Office, the valuation of mortgage is $7,674,024 thousand. After deducting the 1stsecurity, which amounted to $3,960,000 thousand, the residual mortgage attributed to the Group amounted to $1,857,012 thousand. The building of The Splendor Hospitality International (the 2nd security)
The Splendor Hospitality International	$ 575,000		796,845

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

Underlying				December 31, 2021
	Obligation Cost		Obligation Principal	Valuation Assessment Collateral According to the assessment of Zhonglian Real Estate Appraiser Joint office, the valuation of mortgage is $7,674,024 thousand. After deducting the 1stsecurity, which amounted to $3,960,000 thousand, the residual mortgage attributed to the Group amounted to $1,857,012 thousand. The building of The Splendor Hospitality International (the 2nd security) March 31, 2021
The Splendor Hospitality International Underlying	$ 575,000		796,845
		Obligation Cost	Obligation Principal	Valuation Assessment Collateral According to the assessment of Jones Lang Lasalle Real Estate Appraiser Joint Office, the valuation of mortgage is $7,056,000 thousand. After deducting the 1st security, which amounted to $3,960,000 thousand, the residual mortgage attributed to the Group amounted to $1,548,000 thousand. The building of The Splendor Hospitality International (the 2nd security)
The Splendor Hospitality International	$ 575,000		796,845

(ii) As of March 31, 2022, December 31 and March 31, 2021, the cost and principal of debt obligation from Chin Ling Steel were $23,250 thousand and $118,561 thousand, respectively.
(m) Other non-current assets

The details of other non-current assets are as follows:

Construction in progress Land Other	March 31, 2022 $ 2,218,861 44,299 237,828 $ 2,500,988	December 31, 2021 1,964,821 44,299 97,311 2,106,431	March 31, 2021
			1,033,194 44,299 85,856
			1,163,349

(i) The construction in progress is the development of land and shopping mall of the Group, please refer to Note 9(a), (ix) for details.
(ii) The land held by the Group is located at Xinfeng Township Kengzikou and Zaoqiao Township Niulan Lake. According to the laws and regulations, companies cannot be registered as landowners, due to the usage of the land is registered for farming, graveyard and conservation. Therefore, the ownership of the land was passed to individuals and was registered as private personal property. For obtaining the right of land, the Group held the land certificate and entered into an agreement with the registered owner, which specified that the Group retain all rights and obligations of the land, and pledged the land as collateral for the Group.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(n) Short-term borrowings

Unsecured bank borrowings Secured bank borrowings Notes and bills payable Total Unused credit limit Range of interest rates	March 31, 2022 $ 4,357,476 5,330,846 524,639 $ 10,212,961 $ 5,439,917 0.52%~4.25%	December 31, 2021 3,299,307 5,287,721 484,798 9,071,826 6,298,655 0.52%~4.00%	March 31, 2021
			2,577,472 6,177,375 539,622
			9,294,469
			4,391,224
			0.72%~2.25%

(i) Borrowing and repayment

For the three months ended March 31, 2022 and 2021, the Group obtained from short-term borrowings amounting to $3,797,799 thousand and $2,977,722 thousand with an interest rate of 0.52%～4.25% and 0.72%～2.17%; the repayment amounting to $2,768,376 thousand and $1,761,898 thousand, respectively. Please refer to Note 6(z) for details of the interest expense.

(ii) Collateral for bank borrowings

Please refer to Note 8 for details of the assets pledged as collateral for bank borrowings.

(o) Long-term borrowings

Unsecured bank borrowings Secured bank borrowings Less: Current portion Unamortized long-term borrowings costs Total Unused credit limit Interest rate range	March 31, 2022 $ 1,045,000 7,446,529 (1,043,153) (297) $ 7,448,079 $ 2,456,365 0.93%~2.05%	December 31, 2021 3,239,717 8,909,079 (1,612,105) (503) 10,536,188 414,003 0.90%~2.81%	March 31, 2021 2,382,874 7,180,953 (642,098) (618) 8,921,111 789,963 0.40%~3.70%

(i) Borrowing and repayment

For the three months ended March 31, 2022 and 2021, the Group obtained from long-term borrowings amounting to $900,000 thousand and $1,045,920 thousand with an interest rate of 1.10%～ 2.05% and 0.40%～ 1.90%; the repayment amounting to $4,602,019 thousand and $2,516,991 thousand, respectively. Please refer to Note 6(z) for details of the interest expense.

(ii) Collateral for bank borrowings

Please refer to Note 8 for details of the assets pledged as collateral for bank borrowings.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(iii) Borrowing covenants

The Group entered into a syndicated loan contract in a total credit of $3,150,000 thousand with multiple financial institutions on April 23, 2019. According to the contract, during the borrowing repayment periods the Company should file annual and semi-annual consolidated financial statements which were audited and reviewed by CPA and must comply with certain financial covenants, such as the current ratio shall be greater than or equal to 100%, the financial debt ratio shall be less than or equal to 180%, the interest coverage ratio shall be greater than or equal to 5 times, and the tangible net value shall be greater than or equal to $14,000,000 thousand. The compliance with the aforementioned covenants will be examined semi-annually. As of December 31, 2021, the Group was in compliance with the above borrowing covenants.

The Group entered into a borrowing contract in a total credit of USD43,230 thousand with one financial institution on November 10, 2020. According to the contract, during the repayment periods the Company should file UEA annual non-consolidated and CMI annual consolidated financial statements which were audited by CPA and must comply with certain financial covenants. The financial covenants based on the years of 2021 and 2020 CMI annual consolidated financial statements is EBITDA/(CPLTD+1), which shall be greater than or equal to 1, and of which based on UEA annual non-consolidated and CMI annual consolidated financial statements is debt ratio, which shall be less than or equal to 80%. The compliance with the aforementioned covenants will be examined annually. As of December 31, 2021, the Group was in compliance with the above borrowing covenants.

(p) Bonds payable

The details of the bonds payable is as follows:

Unsecured convertible bonds
Unamortized premium on bonds payable
Embedded derivative-call option and put option (which is listed under "non-
current financial liabilities at FVTPL")
Equity component-convertible option (which is listed under "capital surplus-stock
option")
Embedded derivative-losses on remeasurements through fair value (which is
listed under "other gains and losses")
Interest expense

March 31,
2022
$ 1,500,000
83,997
$
1,583,997
$
4,622
$
48,562
For the Three
Months Ended
March 31
2022
$
(330)
$
(7,865)

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

On January 24,2022, the Group issued the fourth domestic unsecured convertible corporate bonds amounting to $1.5 billion with the following conditions:

1) Coupon rate: 0%
2) Issuance period: Three years (maturing on January 24,2025)
3) Repayment: Unless the bonds had been redeemed before maturity, repurchased and converted, the bonds will be redeemed by the Group upon maturity at par value.
4) Redemption: The Group will redeem the bonds from its creditors under the following circumstances:
a) The Group would repurchase the bond at par value if the close price of the Group’s ordinary share listed on the Taiwan Stock Exchange exceeds or equals 30% of the conversion price for 30 consecutive days from the day after the bonds have been issued for three months to 40 days before maturity.
b) The Group would repurchase the bond at par value if the outstanding balance of bonds is less than 10% of the original issuance value from the day after the bonds have been issued for three months to 40 days before maturity.
5) Repurchase:

The holders can require the Group to repurchase the bonds at 100.5% of the par value from the day after the bonds have been issued for two years.

6) Conversion:
a) The holders can convert the bonds into ordinary shares according to the conversion method from the day after the bonds have been issued for three months to the expiry.
b) The conversion price is $34.2 per share, which is the average close price on the first day, as well as the first three and five operating days, before the base date of the Group’s ordinary share listed on the Taiwan Stock Exchange, which was on January 4,2022, multiply by 104%.

(q) Lease liabilities

The details of the lease liabilities are as follows:

Current Non-current	March 31, 2022 $ 190,574 $ 1,613,791	December 31, 2021 179,629 1,649,203	March 31, 2021
			182,350
			1,768,969

For the maturing analysis, please refer to Note 6(z).

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

The amounts recognized in profit or loss are as follows:

Interest on lease liabilities Expenses relating to leases short-term assets Covid-19-related rent concessions (recognized as deduction of rent expenses)	For the Three Months Ended March 31	For the Three Months Ended March 31
	2022 $ 5,951 $ 2,141 $ -	2021
		4,905
		4,118
		5

The amounts recognized in the statement of cash flows are as follows:

Total cash outflow for leases	For the Three Months Ended March 31	For the Three Months Ended March 31
	2022 $ 57,225	2021
		58,624

(i) Real estate leases

The Group leases land and buildings for its offices, retail stores and future project development. The leases of offices, typically run for a period of 2 years, retail stores for a period of 15 years, and the land use rights leased for future project development for 40 to 50 years. Some leases include an option to renew the lease for an additional period of the same duration after the end of the contract term.

Some leases provide for additional rent payments that are based on changes in local price indices, or sales that the Group makes at the leased store in the period. Some also require the Group to make payments that relate to the property taxes levied on the lessor and insurance payments made by the lessor; these amounts are generally determined annually.

Some leases of equipment contain extension or cancellation options exercisable by the Group before the end of the non-cancellable contract period. These leases are negotiated and monitored by local management, and accordingly, contain a wide range of different terms and conditions. The extension options held are exercisable only by the Group and not by the lessors. In which the leasee is not reasonably certain to use an optional extended lease term, payments associated with the optional period are not included within lease liabilities.

(ii) Other leases

The Group leases equipment and transportation, with lease terms of 2 to 6 years. In some cases, the Group has options to purchase the assets at the end of the contract term.

The Group also leases equipment and machinery, dormitory and company cars with contract terms of one year. These leases are short-term or low-value items which the Group has elected not to recognize right-of-use assets and lease liabilities.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(r) Provisions

Non-current: Financial guarantee contracts Legal Total	March 31, 2022 $ 17,785 236,052 $ 253,837	December 31, 2021 21,289 236,052 257,341	March 31, 2021
			29,822 236,052
			265,874

(i) Financial guarantee contracts

The Group assisted the joint venture to obtain the endorsement guarantee for the credit limit from the financial institutions. According to IFRS 9 “ Financial Instruments”, the financial guarantee contracts are measured at fair value.

(ii) Legal

Please refer to Note 9(b) for the information on estimated legal provisions and losses.

(s) Operating leases

The Group leases out investment properties under operating lease which was classified based on not transferring substantially all of the risks and rewards of ownership incidental to ownership of the underlying asset to the lessee. Please refer to Note 6(j) for the regarding information on investment properties.

A maturity analysis of lease payments, showing the undiscounted lease payments to be received after the reporting date are as follows:

Less than one year One to two years Two to three years Total undiscounted lease payments	March 31, 2022 $ 9,992 4,051 - $ 14,043		December 31, 2021	March 31, 2021 16,558 9,861 4,051 30,470
			13,122 5,265 355 18,742

For the three months ended March 31, 2022 and 2021, rental revenues from investment properties amounted to $3,417 thousand and $3,372 thousand, respectively. The equipment and maintenance costs arising from the investment properties (recognized under "operating costs") are $0 thousands.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(t) Employee benefits

(i) Defined benefit plans

Management believes that there was no material volatility of the market, no material reimbursement and settlement or no other material onetime events since prior fiscal year. As a result, the pension cost in the accompanying interim period was measured and disclosed according to the actuarial report as of December 31, 2021 and 2020.

The expenses recognized in profit or loss for the Group are as follows:

Operating cost Selling expenses Administration expenses Research and development expenses Total	For the Three Months Ended March 31	For the Three Months Ended March 31
	2022 $ 12 2 19 - $ 33	2021
		536 101 238 98
		973

(ii) Defined contribution plans

The Group’s expenses under the pension plan cost to the Bureau of Labor Insurance are as follows:

Operating cost Selling expenses Administration expenses Research and development expenses Total Short-term employee benefits Paid leave and other liabilities	March 31, 2022 $ 9,117	For the Three Months Ended March 31 2022 2021 $ 12,270 10,687 639 645 7,891 7,495 91 87 $ 20,891 18,914 December 31, 2021 March 31, 2021 12,095 13,431	For the Three Months Ended March 31 2022 2021 $ 12,270 10,687 639 645 7,891 7,495 91 87 $ 20,891 18,914 December 31, 2021 March 31, 2021 12,095 13,431	For the Three Months Ended March 31 2022 2021 $ 12,270 10,687 639 645 7,891 7,495 91 87 $ 20,891 18,914 December 31, 2021 March 31, 2021 12,095 13,431
				2021
				10,687 645 7,495 87
				18,914
				March 31, 2021 13,431

(iii) Short-term employee benefits

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(u) Income tax

(i) Applicated legal tax rates of foreign subsidiaries: China: 10%~25%; Japan: 33.79%; the USA: 21%.

(ii) The income tax expense are as follows:

Current income tax expense Current period incurred Land value increment taxes Adjustment for prior periods Deferred tax income Origination and reversal of temporary differences Income tax expense	For the Three Months Ended March 31	For the Three Months Ended March 31
	2022 $ 52,722 20,173 157 73,052 (11,017) $ 62,035	2021 47,365 8,842 (35) 56,172 (1,010) 55,162

(iii) The income tax returns of the Company through 2020 (except for 2018), as well as the other domestic consolidated subsidiaries ( except for the Hotel National, National Management and Shangrila Tourism ) through 2020, had been assessed and approved by the tax authority according to the income tax return filed by the Group. The Company and Sunflower Investment did not agree with the proposed tax adjustments made by the tax authority, and filed the petition of administration. Please refer to Note 9(b) for details.

(v) Share capital and other equity

Except for the following disclosure, there was no significant change for capital and other equity for the three months ended March 31, 2022 and 2021. For the related information, please refer to Note 6(u) of the consolidated financial statements for the year ended December 31, 2021.

(i) Capital stock

As of March 31, 2022, December 31 and March 31, 2021, the Company’s authorized share capital are 5,000,000 thousands, with par value of $10 per share and the issued capital are $3,761,221 thousand. All the proceeds from the issued capital have been remitted.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(ii) Capital surplus

The components of the capital surplus are as follows:

The components of the capital surplus are as follows:
March 31, 2022 From issuance of share capital $ 611,272 Employee stock option of subsidiaries 33,352 Stock option of convertible bonds 48,562 From conversion of convertible bonds 843,035 Changes in equity of associates and joint ventures accounted for using equity method - Difference between consideration and carrying amount of subsidiaries acquired or disposed of 616 $ 1,536,837	December 31, 2021 611,272 33,352 - 843,035 - 611 1,488,270	March 31, 2021
		611,272 33,352 - 843,035 143 -
		1,487,802

(iii) Retained earnings

In accordance with the Company’s Articles of Incorporation, after-tax earnings and other items in undistributed earnings except from after-tax earnings shall first be offset against any deficit, and 10% of the balance shall be set aside as legal reserve. The appropriation for legal reserve is discontinued when the balance of the legal reserve equals the total authorized capital. Aside from the aforesaid legal reserve, the Company may, as required by its operation or by the government, appropriate for special reserve. The remaining balance of the earnings, if any, may be appropriated according to the distribution plan proposed by the Board of Directors and submitted to the shareholders’ meeting for approval. If all or part of the aforementioned employees’ compensation is distributed in cash, the resolution will be approved by a majority vote at a meeting of Board of Directors attended by two-thirds of the total number of directors, and the distribution shall be submitted to the shareholders’ meeting.

The Company is in the growth stage of business cycle and the annual earnings and future cash flow is maintained stable. Considering the Company’ s significant investment plan for the future, the Company applied “ Residual dividend policy” for long-term operating plan and funding needs. The dividend distribution of cash and stock is correlated with annual earning. The Company's stock dividends cannot be higher than 70% of the total dividend.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

1) Earnings distribution

The amount of cash dividends of appropriations of the Company’ s 2021 and 2020 earnings was based on the resolutions decided during the meetings of the Board of Directors held on March 30, 2022 and March 30, 2021, respectively.

These earnings are appropriated as follows:

Common stock dividends per share Cash	2021 Allotment (NTD) Amount $ 2.11 793,618	2020	2020
	Allotment (NTD) $ 2.11	Allotment (NTD) 1.03	Amount
			387,406

(iv) Other equity (net of tax)

Balance on January 1, 2022 Profit attributable to non-controlling interests Exchange differences on foreign operations Unrealized (losses) gains on financial assets Changes in non-controlling interest Cash dividends paid to non-controlling interests Balance on March 31, 2022 Balance on January 1, 2021 Profit attributable to non-controlling interests Exchange differences on foreign operations Unrealized losses on financial assets measured at FVOCI Changes in non-controlling interest Cash dividends paid to non-controlling interests Balance on March 31, 2021	Exchange Differences on Translation of Foreign Financial Statements $ (25,292) - 296,939 - - - $ 271,647 $ 32,198 - (78,930) - - - $ (46,732)	Unrealized Gains (Losses) from Financial Assets Measured at FVOCI 78,077 - - (5,797) - - 72,280 93,833 - - (2,656) - - 91,177	Non-controlling Interest 3,973,038 125,105 65,502 1 (87) (41,213) 4,122,346 3,975,678 47,107 (16,363) (27) 9,290 (803) 4,014,882	Total 4,025,823 125,105 362,441 (5,796) (87) (41,213)
				4,466,273
				4,101,709 47,107 (95,293) (2,683) 9,290 (803)
				4,059,327

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(w) Earnings per share

The Group’s earnings per share are calculated as follows:

The Group’s earnings per share are calculated as follows:
	For	the Three Months	Ended March 31
		2022	2021
Basic earnings per share
Profit attributable to owners of the parent	$	346,281	173,509
Weighted average number of ordinary shares		376,122	376,122
Basic earnings per share	$	0.92	0.46
Diluted earnings per share
Profit attributable to owners of the parent (after the adjustment of diluted ordinary
shares)	$	346,281	173,509
Weighted average number of ordinary shares		376,122	376,122
Effect of potential diluted ordinary shares
Employee stock option		1,306	679
Weighted average number of ordinary shares (after the adjustment of diluted
ordinary shares)		377,428	376,801
Diluted earnings per share	$	0.92	0.46

(x) Revenue from contracts with customers

(i) Disaggregation of revenue

For the Three Months Ended March 31, 2022	For the Three Months Ended March 31, 2022	For the Three Months Ended March 31, 2022	For the Three Months Ended March 31, 2022
Metal Manufacturing Segment $ 159,539 463,229 426,183 1,527,572 119,503 163,320 168,266 $ 3,027,612 $ 3,009,606 - - 18,006 $ 3,027,612	Real Estate Development Segment	Lifestyle Hospitality Segment 163,748 - - - - - - 163,748 - - 99,055 64,693 163,748	Total
	1,404,172 - - - - - -		1,727,459 463,229 426,183 1,527,572 119,503 163,320 168,266
	1,404,172		4,595,532
	- 1,404,172 - -		3,009,606 1,404,172 99,055 82,699
	1,404,172		4,595,532
			(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

			For the Three Months Ended March 31,	For the Three Months Ended March 31,	For the Three Months Ended March 31,	For the Three Months Ended March 31,	For the Three Months Ended March 31,	For the Three Months Ended March 31,	For the Three Months Ended March 31,	2021
			Metal		Real Estate		Lifestyle
		Manufacturing		Development			Hospitality
		Segment			Segment		Segment			Total
Major geographic markets:
	Taiwan	$	165,101			381,110		167,809		714,020
	United States		442,828			-		-		442,828
	Japan		405,526			-		-		405,526
	China		1,661,153			-		-		1,661,153
	Europe		93,868			-		-		93,868
	South America		190,057			-		-		190,057
	Others		102,261			-		-		102,261
		$	3,060,794			381,110		167,809		3,609,713
Major product/service lines:
	Iron casting hardware	$	3,045,188			-		-		3,045,188
	Construction		-			381,110		-		381,110
	Counter commissions		-			-		93,051		93,051
	Others		15,606			-		74,758		90,364
		$	3,060,794			381,110		167,809		3,609,713
)	Contract balances
			March		31,	December 31,			March 31,
			2022				2021			2021
	Notes and accounts receivable		$ 4,007,671				4,074,833			3,878,317
	Less: Loss allowance				(3,724)		(3,764)			(2,806)
	Total		$ 4,003,947				4,071,069			3,875,511
	Contract assets		$	-			-			-
	Contract liabilities–Advance real		$ 3,752,062				3,568,282			2,863,776
	estate receipts
	Contract liabilities–Advance receipts		$		50,775		52,252			54,622

(ii) Contract balances

For the details of accounts receivable and loss allowance, please refer to Note 6(c).

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

The amount of revenue recognized for the three months ended March 31, 2022 and 2021, that were included in the contract liabilities balance at the beginning of the period were $343,312 thousand and $61,734 thousand, respectively.

The major change in the balance of contract assets and contract liabilities is the difference between the time frame in the performance obligation to be satisfied by transferring ownership to the customer and the payment to be received.

(y) Employees' compensation and remuneration of directors

Based on the amended Company’ s Articles of Incorporation, employees’ compensation is appropriated at the rate of no less than 2.5% and remuneration of directors is appropriated no more than 2.5% of profit before tax, respectively. Prior years’ accumulated deficit is first offset before any appropriation of profit, then calculate the employees’ compensation and remuneration of directors by the appropriate ratio stipulated in the bylaws. The employees to whom the Company distributes employees’ compensation, or issued new restricted employee shares, employee stock option certificates, preemptive right of new shares, and transfer of shares include the employees of subsidiaries which are qualified with the requirements stipulated by the Board of Directors.

For the three months ended March 31, 2022 and 2021, appropriated employees’ compensation by $11,054 thousand and $5,384 thousand, respectively, and appropriated remuneration of directors by $9,869 thousand and $4,807 thousand, respectively, which were estimated on the basis of the Company’ s net profit before tax, excluding employees’ compensation and the remuneration of directors of each period, then multiplied by the percentage of remuneration of employees and directors as specified in the Company’s Articles of Incorporation. Such amounts were recognized as operating cost or operating expense for the period. The number of shares to be distributed were calculated based on the closing price of the Company’ s ordinary shares, one day prior to Board of Directors meeting. Management is expecting that the differences, if any, between the actual distributed amounts and estimated amounts will be treated as changes in accounting estimates and charged to profit or loss.

For the years ended December 31, 2021 and 2020, appropriated employees’ compensation by $34,016 thousand and $16,606 thousand, respectively, and appropriated remuneration of directors by $30,371 thousand and $14,826 thousand, respectively. There were no significant difference between employees' compensation and remuneration of directors approved by the Board of Directors meeting and the estimated amount.

Information on the employees' compensation and remuneration of directors approved by the Board of Directors meeting is available on the Market Observation Post System website of the Taiwan Stock Exchange.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(z) Non-operating income and expenses

(i) Interest income

The information on interest income is listed as follows:

Interest income from bank deposits Interest income from financial guarantee contracts Total Interest income	For the Three Months Ended March 31	For the Three Months Ended March 31
	2022 $ 4,287 3,504 $ 7,791	2021
		14,017 3,447
		17,464

(ii) Other income

The information on other income is listed as follows:

Rental revenue Others Total other income	For the Three Months Ended March 31	For the Three Months Ended March 31
	2022 $ 4,752 18,056 $ 22,808	2021
		5,287 16,874
		22,161

(iii) Other gains and losses

The information on other gains and losses is listed as follows:

Losses on disposal of property, plant and equipment Foreign exchange gains (losses) Losses on disposal of investment Losses on financial instruments at FVTPL Other losses Net amount of other gains and losses	For the Three Months Ended March 31	For the Three Months Ended March 31
	2022 $ (2,196) 22,394 - (330) (242) $ 19,626	2021
		(223) (5,096) (5,013) - (447)
		(10,779)

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(iv) Finance costs

The information on interest costs is listed as follows:

The information on interest costs is listed as follows:
Bank borrowing interest expense Lease liability interest expense Bonds interest expense Other finance costs Net amount of finance costs	For the Three Months Ended March 31
	2022 $ 53,131 5,951 (7,865) 432 $ 51,649	2021
		50,164 4,905 - 425
		55,494

For the three months ended March 31, 2022 and 2021, the capitalized interest costs amounted to $12,876 thousand and $14,252 thousand, respectively.

(aa) Financial instruments

Except for the contention mentioned below, there was no significant change in the fair value of the Group’s financial instruments and degree of exposure to credit risk, liquidity risk and market risk arising from financial instruments. For the related information, please refer to Note 6(aa) of the consolidated financial statements for the year ended December 31, 2021.

(i) Credit risk

1) Credit risk exposure

The carrying amount of financial assets and contract assets represent the maximum amount exposed to credit risk.

2) Concentration of credit risk

Since the Group had a large number of unrelated customers, the concentration of the credit risk is limited.

3) Credit risks of receivables and debt securities

For the information regarding credit risk exposure of notes and accounts receivables, please refer to Note 6(c). Other financial assets at amortized cost include other receivables and time deposits.

All of these financial assets mentioned above are considered to be low risk, therefore, the impairment provision recognized during the period was limited to 12 months expected losses. For the allowance of impairment on financial assets for the three months ended March 31, 2022 and 2021, please refer to Note 6(c).

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(ii) Liquidity risk

The following table shows the contractual maturities of financial liabilities, including estimated interest payments, but not the impact of netting agreements.

Contractual Cash Flow March 31, 2022 Non-derivative financial liabilities Bank borrowings $ 19,093,999 Bonds payable 1,500,000 Lease liabilities 2,026,286 Notes and accounts payables (including related parties) 3,126,709 Other payables (including related parties) 1,667,047 $ 27,414,041 December 31, 2021 Non-derivative financial liabilities Bank borrowings $ 21,721,271 Lease liabilities 2,055,335 Notes and accounts payables (including related parties) 3,421,535 Notes and accounts payables (including related parties) 1,961,919 $ 29,160,060 March 31, 2021 Non-derivative financial liabilities Bank borrowings $ 18,953,088 Lease liabilities 2,195,491 Notes and accounts payables (including related parties) 2,833,763 Other payables (including related parties) 1,585,803 $ 25,568,145	Within 6 Months 5,813,267 - 107,345 3,126,709 1,667,047 10,714,368 4,783,351 101,795 3,421,535 1,961,919 10,268,600 3,967,571 105,927 2,833,763 1,585,803 8,493,064	6-12 Months 1,815,557 - 105,382 - - 1,920,939 2,770,371 99,851 - - 2,870,222 2,405,928 100,096 - - 2,506,024	1-2 Years 7,433,062 - 206,374 - - 7,639,436 9,520,326 199,141 - - 9,719,467 7,949,056 195,249 - - 8,144,305	2-5 Years 4,032,113 1,500,000 608,908 - - 6,141,021 4,647,223 606,370 - - 5,253,593 4,601,131 596,555 - - 5,197,686	Over 5 Years
					- - 998,277 - -
					998,277
					- 1,048,178 - -
					1,048,178
					29,402 1,197,664 - -
					1,227,066

The Group does not expect the cash flows included in the maturity analysis to occur significantly earlier or at significantly different amounts.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(iii) Currency risk

Information on the significant exposure to foreign currency risk of the Group is as follows:

March 31, 2022 Foreign Currency Exchange Rate NTD Financial assets Monetary items USD:NTD $ 20,280 28.63 580,615 USD:CNY 134,517 6.35 3,851,215 USD:JPY 958 121.67 27,415 EUR:NTD 1,705 31.92 54,418 EUR:CNY 3,045 7.08 97,201 JPY:NTD 89,139 0.24 20,974 JPY:CNY 132,299 0.05 31,130 HKD:USD 2,392 0.13 8,755 Financial liabilities Monetary items USD:CNY 136,463 6.35 3,906,942 EUR:CNY 2,690 7.08 85,866 HKD:USD 318,288 0.13 1,164,934 JPY:CNY 25,469 0.05 5,993	December 31, 2021 Foreign Currency Exchange Rate NTD 20,817 27.68 576,214 135,034 6.38 3,737,747 836 115.09 23,140 1,096 31.32 34,328 3,444 7.22 107,860 164,138 0.24 39,475 174,839 0.06 42,049 3,729 0.13 13,239 149,967 6.38 4,151,073 2,880 7.22 90,192 318,288 0.13 1,129,922 61,021 0.060 14,676	March 31, 2021	March 31, 2021
	Foreign Currency 20,817 135,034 836 1,096 3,444 164,138 174,839 3,729 149,967 2,880 318,288 61,021	Foreign Currency 16,726 121,419 1,158 1,160 1,057 83,793 123,838 4,994 127,768 13,770 335,040 33,948	Exchange Rate NTD 28.54 477,369 6.58 3,465,291 110.75 33,041 33.48 38,837 7.71 35,378 0.26 21,594 0.06 31,913 0.13 18,328 6.58 3,646,485 7.71 461,004 0.13 1,229,597 0.06 8,748

1) Sensitivity analysis

The Group’s exposure to foreign currency risk arises from the translation of the foreign currency exchange gains and losses on cash and cash equivalents, accounts receivable, other receivables, borrowings, accounts payable and other payables that are denominated in foreign currency. A 1% of appreciation or depreciation of each major foreign currency against the Group’ s functional currency as of March 31, 2022 and 2021 would have increased (decreased) the after-tax net income for the three months ended March 31, 2022 and 2021 by $984 thousand and $2,448 thousand, respectively. The analysis assumes that all other variables remain constant and was performed on the same basis for both periods.

As the Group deals in diverse foreign currencies, gains or losses on foreign exchange were summarized as a single amount. For the three months ended March 31, 2022 and 2021, the foreign exchange losses, including both realized and unrealized, amounted to $22,394 thousand and $(5,096) thousand, respectively.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(iv) Interest rate risk

The interest risk exposure from financial assets and liabilities has been disclosed in the note of liquidity risk management.

The following sensitivity analysis is based on the risk exposure to interest rates on the derivative and non-derivative financial instruments at the reporting date. For variable rate instruments, the sensitivity analysis assumes the variable rate liabilities are outstanding for the whole year at the reporting date.

If the interest rate increases or decreases by 1% the Group’s net income will increase /decrease by $21,106 thousand and $21,758 thousand for the three months ended March 31, 2022 and 2021, respectively, assuming all other variable factors remain constant. This is mainly due to the Group’s variable rate bank borrowings.

(v) Other market price risk

If the equity price changes, the impact of equity price change to other comprehensive income will be as follows, assuming the analysis were based on the same basis, and other variables considered in the analysis remain the same:

For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
2022 Other Comprehensive Income (net of tax) Net Income (Loss) (net of tax) $ 20,150 (462) $ (20,150) 462	2021
Other Comprehensive Income (net of tax) $ 20,150 $ (20,150)	Other Comprehensive Income (net of tax) 25,536 (25,536)	Net Income (Loss) (net of tax)
		-
		-

(vi) Fair value of financial instruments
1) Fair value hierarchy

The Group measured its financial assets and liabilities at FVTPL, and financial assets at FVOCI on a recurring basis. The carrying amount and fair value of the Group’s financial assets and liabilities, including the information on fair value hierarchy are as follows; however, except as described in the following paragraphs, for financial instruments not measured at fair value whose carrying amount is reasonably close to the fair value, and lease liabilities, disclosure of fair value information is not required:

March 31, 2022

	Fair Value	Fair Value
Level 1 37,016 -	Level 2 - -	Level 3 164,483 4,622	Total
			201,499
			4,622

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

	March 31, 2022	March 31, 2022	March 31, 2022
Book Value $ 11,053,852 $ 26,919,448		Fair Value
	Level 1 Level 2 Level 3 - - - - - - December 31, 2021			Total
				-
				-

Book Value $ 215,295 $ 12,134,805 $ 28,463,417		Fair Value
	Level 1 Level 2 36,901 - - - - - March 31, 2021		Level 3 178,394 - -	Total
				215,295
				-
				-

Book Value $ 255,364 $ 9,859,168 $ 25,248,440		Fair Value
	Level 1 60,540 - -	Level 2 - - -	Level 3 194,824 - -	Total
				255,364
				-
				-

2) Valuation techniques for financial instruments measured at fair value

Financial instruments traded in active markets are based on quoted market prices. Market prices quoted from main exchanges and over-the-counter are the basis of fair value of equity instruments and credit instrument traded in active markets.

If the quoted price of a financial instrument can be obtained in time and often from exchanges, brokers, underwriters, industrial union, pricing institute, or authorities and such price can reflect those actual trading and frequently happen in the market, then the financial instrument is considered to have a quoted price in an active market. If a financial instrument does not accord with the definition aforementioned, then it is considered to be without a quoted price in an active market. In general, market with low trading volume or high bid-ask spreads is an indication of non-active market.

If the financial instruments held by the Group have active market, the measurements of fair value are categorized as follows:

The listed redeemable bonds, listed stocks, drafts and bonds are recognized as financial assets and liabilities traded in active markets by the standards and nature. The fair value is measured at the market quoted price.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

Measurements of fair value of financial instruments without an active market are based on valuation technique or quoted price from a competitor. Fair value, measured by using valuation technique that can be extrapolated from either similar financial instruments or discounted cash flow method or other valuation techniques, including models, is calculated based on available market data at the reporting date.

If the financial instruments held by the Group have no active market, the measurements of fair value are categorized as follows:

Equity instruments without quoted price: The fair value is measured at discounted cash flow model. The assumption is discounted investees’ expected future cash flows by using the discounting rate which reflects the time value of money and the return of the investment.
3) Transfers between Level 1 and Level 2

There were no transfers in either direction for the three months ended March 31, 2022 and 2021.

4) Reconciliation of Level 3 instruments

		Non-current Financial
		Assets at FVOCI
		Equity Instrument
		without Quoted Price
Balance on January 1, 2022	$	215,295
Total gains or losses
Recognized as other comprehensive income		(5,796)
Capital reduction		(8,000)
Balance on March 31, 2022	$	201,499
Balance on January 1, 2021	$	257,587
Purchase		460
Total gains or losses
Recognized as other comprehensive income		(2,683)
Balance on March 31, 2021	$	255,364

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

The total gains or losses is listed under “unrealized gains (losses) on financial assets at FVOCI”. The information regarding assets held as of March 31, 2022 and 2021 is as follows:

Total gains or losses Recognized as other comprehensive income (which is listed under "unrealized losses on financial assets of FVOCI")	For the Three Months Ended March 31	For the Three Months Ended March 31
	2022 $ (5,796)	2021 (2,683)

5) Quantified information on significant unobservable inputs (Level 3) used in fair value measurement

The Group’s major financial instruments that use Level 3 inputs to measure fair value is “financial assets measured at FVOCI – equity investments”.

Most of the Group’s financial assets in Level 3 have only one significant unobservable input, while its equity investments without an active market have more than one significant unobservable inputs. The significant unobservable inputs of equity investments without an active market are individually independent, and there is no correlation between them.

Quantified information regarding significant unobservable inputs are as follows:

Item	Valuation Technique Dividend discount model	Significant Unobservable Inputs Inter-relationship between Significant Unobservable Inputs and Fair Value Measurement ‧Average expected future dividend income of 5 years (As of March 31, 2022,December 31 and March 31, 2021 were $14~26,213 thousand, $14~26,213 thousand and $18~29,388 thousand, respectively.) ‧The estimated fair value would increase, if the 5- year average expected future dividend income is increased. ‧Weighted average capital cost (As of March 31, 2022,December 31 and March 31, 2021, were 4.68%,3.48% and 4.61%, respectively.) ‧Discounting rate without market liquidity (As of March 31, 2022,December 31 and March 31, 2021, were all 15%) ‧The estimated fair value would decrease, if the weighted average capital cost is increased. ‧The estimated fair value would decrease, if the discounting rate without market liquidity is increased.
Financial assets at FVOCI equity investments without active market

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

6) Fair value measurements in Level 3-sensitivity analysis of reasonably possible alternative assumptions

The Group’ s measurement on the fair value of financial instruments is deemed reasonable despite different valuation models or assumptions may lead to different results. For fair value measurements in Level 3, changing one or more of the assumptions would have the following effects on profit or loss and other comprehensive income:

March 31, 2022 Financial assets at FVOCI Equity investments without an active market December 31, 2021 Financial assets at FVOCI Equity investments without an active market March 31, 2021 Financial assets at FVOCI Equity investments without an active market	Inputs % 4.68 % 3.48 % 4.61	Fluctuation in Inputs 1% 1% 1%	Other Comprehensive Income Favorable Unfavorable 5,958 (5,663) 6,671 (6,335) 6,931 (6,586)

The favorable and unfavorable effects represent the changes in fair value, and fair value is based on a variety of unobservable inputs calculated using a valuation technique. The analysis above only reflects the effects of changes in a single input, and it does not include the interrelationships with another input.

(ab) Financial risk management

There were no significant changes in the Group’ s financial risk management and policies as disclosed in Note 6(ab) of the consolidated financial statements for the year ended December 31, 2021.

(ac) Capital management

Management believes that the objectives, policies and processes of capital management of the Group has been applied consistently with those described in the consolidated financial statements for the year ended December 31, 2021. Also, management believes that there were no significant changes in the Group’s capital management information as disclosed for the year ended December 31, 2021. Please refer to Note6 (ac) of the consolidated financial statements for the year ended December 31, 2021 for further details.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(ad) Investing and financing activities not affecting the current cash flow

The Group’s investing and financing activities which did not affect the current cash flow in the years ended March 31, 2022 and 2021, were as follows:

Reconciliation of assets arising from investing activities were as follows:

Other non-current assets Other non-current assets	January 1, 2021 $ 2,106,431 January 1, 2020 $ 907,794	Cash flows 430,894 Cash flows 385,135	Non-cash changes Reclassification (36,337) Non-cash changes Reclassification (129,580)	March 31, 2022
				2,500,988
				March 31, 2021
				1,163,349

(7) Related-party transactions:

(a) The ultimate parent company

The company is both the parent company and the ultimate controlling party of the Group.

(b) Names and relationship with related parties

The followings are entities that have had transactions with related parties during the periods covered in the consolidated financial statements.

Name of Related Party Relationship with the Group The Splendor Hospitality International Co., Ltd. Joint ventures (The Splendor Hospitality) CMAAN Health Co., Ltd. (CMAAN Health) Joint ventures Amida Trustlink Assets Management Co., Ltd. Associates (Amida Trustlink Assets) Keng-Hsin Urban Renewal Co., Ltd. Associate of subsidiaries (Keng-Hsin Urban Renewal) ADVANCISION (CAYMAN) Industries Co., Ltd. Associate of subsidiaries (ADVANCISION (CAYMAN)) Beyond Fitness Co., Ltd. (Beyond Fitness) Associate of subsidiaries Fuzhou Aprec Mechanical and Electrical Co., Ltd. Subsidiaries of subsidiaries' associates (Fuzhou Aprec)

Advancision Corporation (Advancision) Chain-Yuan Investment Co., Ltd. (Chain-Yuan Investment) San Lien Technology Corp. (San Lien Technology) Kemitek Industrial Corp. (Kemitek Industrial) CMP PUJEN Foundation for Arts and Culture (Foundation) San Lien Educational Foundation (San Lien Foundation) Hao Bao Investment Co., Ltd. (Hao Bao Investment)

Subsidiaries of subsidiaries' associates Other related parties Other related parties Other related parties Other related parties Other related parties Other related parties

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

Name of Related Party Relationship with the Group Rui Hua Investment Co., Ltd. (Rui Hua Investment) Other related parties LEESCO Development Co. Ltd. (LEESCO Development) Other related parties Gee Lien Resource Development Corp. (Gee Lien Resource) Other related parties Yi-Shi Investment Corporation (Yi-Shi) Other related parties Mr. Ming Shiann, Ho Other related parties Mr. Ting Fung, Lin Key Management

(c) Significant transactions with related parties
(i) Sales to related parties
- 1) The amounts of significant sales transactions and outstanding balance between the Group and related parties are as follows:

Sales For the Three Months Ended March 31 2022 2021 $ 2,730 3,713 279 342 396 86 $ 3,405 4,141	Notes and Accounts Receivables March 31, 2022 December 31, 2021 March 31, 2021 4,798 2,690 3,434 2 - 227 25 31 12 4,825 2,721 3,673	Notes and Accounts Receivables March 31, 2022 December 31, 2021 March 31, 2021 4,798 2,690 3,434 2 - 227 25 31 12 4,825 2,721 3,673
	December 31, 2021 2,690 - 31 2,721	March 31, 2021
2022
$ 2,730 279 396 $ 3,405		3,434 227 12
		3,673

The sales between the Group and related parties approximated the market price.

2) The amounts of significant real estate sales transactions and outstanding balance between the Group and related parties are as follows:

Revenue recognized For the Three Months Ended March 31 2022 2021 $ - -	Advance real estate receipts	Advance real estate receipts	Advance real estate receipts
	March 31, 2022 65,484	December 31, 2021 59,275	March 31, 2021
2022 $ -
			30,070

As of March 31, 2022 and 2021, the total contract price of real estate in contract with related parties mentioned above is $253,190 thousand (tax included) and $196,870 thousand (tax included), repectively. The terms and pricing of sales transactions with related parties were not significantly different from those with the third parties.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(ii) Purchases from related parties

The amounts of significant purchases transactions and outstanding balances between the Group and related parties are as follows:

Purchases For the Three Months Ended March 31 2022 2021 $ 20,559 32,381 2 - 17 - $ 20,578 32,381	Notes and Accounts Payable	Notes and Accounts Payable	Notes and Accounts Payable
	March 31, 2022 24,810 - 1,405 26,215	December 31, 2021 26,129 - 726 26,855	March 31, 2021
2022 $ 20,559 2 17 $ 20,578
			29,246 - 661
			29,907

The purchases mentioned above could not compare to the market because the Group did not purchase the same items from non-related parties. The payment terms with related parties are not significantly different from those with third parties.

(iii) Leases

1) Rental expenses

The information on office leased by the Group is as follows:

Joint ventures Other related parties: Mr. Ming Shiann, Ho Others	Rental Expenses	Rental Expenses
	For the Three Months Ended March 31
	2022 $ - 608 160 $ 768	2021
		30 608 127
		765

	$ 768 765	$ 768 765	$ 768 765
Joint rentures Other related parties	Guarantee Deposit Paid (Recognized under other non-current financial assets)
	March 31, 2022 $ 10 443 $ 453	December 31, 2021 10 443 453	March 31, 2021
			- 443
			443

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

2) Rental revenues

The information on office leased to related parties is as follows:

Rental Revenues For the Three Months Ended March 31 2022 2021 $ 65 65 321 321 $ 386 386 Guarantee Deposit Received (Recognized under other non-current liabilities)	Rental Revenues	Rental Revenues	Rental Revenues
	For the Three Months Ended March 31
		2021
March 31, 2022 $ 300	December 31, 2021 300		March 31, 2021
			300

(iv) Providing services to related party

The information on providing management consulting and application services to related parties is as follows:

Associates Joint ventures	Service Revenues	Service Revenues
	For the Three Months Ended March 31
	2022 $ 75 1,145 $ 1,220	2021
		75 1,451
		1,526

(v) Non-performing receivables

	Total Claims
March 31, 2022 $ 796,845	December 31, 2021 796,845 Costs of Claims	March 31, 2021
		796,845

	December 31, 2021 575,000	March 31, 2021
		575,000

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

The claims mentioned above was recognized in other non-current financial assets, please refer to Note 6(l).

(vi) Guarantees and endorsements

The information on guarantees and endorsements of financing quotas and actual usage is as follows:

Borrowing Limits	Borrowing Limits
March 31, 2022 December 31, 2021 March 31, 2021 $ 2,050,000 1,900,000 2,150,000 45,680 45,680 45,680 $ 2,095,680 1,945,680 2,195,680 Actual Usage Amount		March 31, 2021
		2,150,000 45,680
		2,195,680
	December 31, 2021 1,630,000 25,456 1,655,456	March 31, 2021
		1,610,000 45,680
		1,655,680

(vii) Guarantee for bank borrowings

The Group didn’t pay any guarantee fee to related parties as a guarantor.

(viii) Property transaction

The information on construction in retention for Taichung development projects to be paid by the Group is as follows:

Other related parties	March 31, 2022 $ 344	December 31, 2021 344	March 31, 2021
			318

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(ix) Other transactions

1) The information on other services or transactions provided by related parties is as follows:

Associates Joint ventures	Other Expenses	Other Expenses
	For the Three Months Ended March 31
	2022 $ 1 181 $ 182	2021
		- -
		-

2) The amounts on revenues from providing guarantees and endorsements to related parties is as follows:

Joint ventures: The Splendor Hospitality Others	Interest Revenues	Interest Revenues
	For the Three Months Ended March 31
	2022 $ 3,440 64 $ 3,504	2021
		3,365 82
		3,447

3) Other receivables and advance payments from related parties

Other Receivables (including advance payments)	Other Receivables (including advance payments)	Other Receivables (including advance payments)
March 31, 2022 $ 13,082 96 83 85 $ 13,346	December 31, 2021 24,332 95 232 993 25,652	March 31, 2021
		48,810 420 74 527
		49,831

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

4) Other payables and advance receipts from related parties

Associates: Keng-Hsin Urban Renewal Joint ventures Other related parties Key management	Other Payables (including advance receipts) March 31, 2022 December 31, 2021 March 31, 2021 $ 31,966 29,294 158 20 450 40 6,984 203 - - 56 - $ 38,970 30,003 198	Other Payables (including advance receipts) March 31, 2022 December 31, 2021 March 31, 2021 $ 31,966 29,294 158 20 450 40 6,984 203 - - 56 - $ 38,970 30,003 198
	March 31, 2022 $ 31,966 20 6,984 - $ 38,970	December 31, 2021 29,294 450 203 56 30,003

(d) Key management transactions

The compensation of key management is as follows:

Short-term employee benefits Post-employment benefits	For the Three Months Ended March 31	For the Three Months Ended March 31
	2022 $ 44,791 428 $ 45,219	2021
		46,532 477
		47,009

(8) Pledged assets

The information on pledged assets' carrying value is as follows:

Pledged Assets	Object	March 31, 2022 $ 1,424,715 300,284 634,315 7,258,465 6,158,077 90,723 55,582 1,337,901 $ 17,260,062	December 31, 2021 1,424,715 304,118 634,883 7,246,157 5,751,894 234,639 51,429 1,244,785 16,892,620	March 31, 2021
Land (including other non- current assets) Buildings Investment properties Inventories—Land held for development Inventories—Construction in progress Inventories—Buildings and land held for sale Other current financial assets 〃	The credit limits of long-term and short-term bank borrowings 〃〃〃〃 The credit limits of short-term borrowings Bank acceptance bills Trusts			1,424,638 315,619 636,586 5,790,877 6,432,379 2,027,811 49,760 893,401
				17,571,071

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(9) Significant commitments and contingencies

(a) The Group’s unrecognized contractual commitments are as follows:
(i) The unused standby letters of credit for purchasing machinery and equipment and raw material are as follows:

are as follows:
Unused standby letters of credit	March 31, 2022 $ 12	December 31, 2021 3,494	March 31, 2021
			-

(ii) The unrecognized contractual commitment from contracts of buildings for future operational use, selling and purchasing of equipment, decorating constructions, and engineering constructions entered into by the Group is as follows:

Total contract price Total amounts paid under contracts (Note)	March 31, 2022 $ 14,304,224 $ 8,857,303	December 31, 2021 12,660,047 6,679,296	March 31, 2021
			11,536,709
			4,763,604

Note: Recognized in “prepayments for equipment and construction in progress”, “other noncurrent assets”, “inventory- construction in progress” and “administrative expenses”.

(iii) The Group’s total selling price for presale construction projects is as follows:

Total contract price Total amounts received under contracts (recognized under current contract liabilities)	March 31, 2022 $ 16,520,817 $ 3,752,062	December 31, 2021 16,273,136 3,568,282	March 31, 2021
			16,908,978
			2,863,776

(iv) The Group’s purchase contracts of building capacity is as follows:

Total contract price Total amounts paid under contracts (recognized under prepayments)	March 31, 2022 $ 168,748 $ 84,374	December 31, 2021 200,944 116,570	March 31, 2021
			200,944
			116,570

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(v) The Group’s security deposits paid to landlords for joint construction projects is as follows:

March 31, 2022 December 31, 2021 Security deposits of joint construction projects (recognized under other current and non-current financial assets) $ 309,847 348,617 The Group’s security deposits for renting real estates is as follows: March 31, 2022 December 31, 2021 Security deposits (recognized under other current and non-current financial assets) $ 100,517 99,282	March 31, 2021
	390,992
	March 31, 2021
	99,289

(vi) The Group’s security deposits for renting real estates is as follows:
(vii) The Group’s guarantee notes received for sell and construction is as follows:

Security deposits(recognized under other non-current liabilities)	March 31, 2022 $ -	December 31, 2021 2,520	March 31, 2021
			-

(viii) The Group’s unrecognized contractual commitments for purchasing land is as follows:

Total contract price Total amounts paid under contracts (recognized under inventories— prepayments for land)	March 31, 2022 $ 410,070 $ 253,696	December 31, 2021 348,930 239,924	March 31, 2021
			283,842
			166,995

(ix) 1) The Group and The Presbyterian Church in Taiwan entered into an real estate leasing contract, with the contract term of 40 years, commencing the day after the signing date, September 30, 2016. For the development of the leasing real estates, the Group agreed to pay development royalty amounting to $126,000 thousand. As of March 31, 2022 and 2021, the accumulated royalty payments amounted to $126,000 thousand, respectively, which was recognized under right-of-use assets.
2) The Group leased a parcel of land to construct several buildings for its shopping malls and hotels. The Group agreed that the ownership of the buildings would still be under the title deed of the Presbyterian Church in Taiwan even after the completion of the construction. Upon maturity of the lease period, the Group shall dismantle the buildings and related facilities, and return the land to the Presbyterian Church in Taiwan.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

  - 3) The security deposits paid by the Group for land development and leased land and buildings for operating use amounted to $97,092 thousand, as of March 31, 2022 and 2021.

(x) The Group entered into various services agreement with InterContinental Hotels Group for its hotel operation, including planning, constructing and building, as well as during the preopening phase, and the period from the pre-opening phase to the opening day and fifteen years afterwards. According to the contract, the fees shall either be paid based on the services rendered, or be calculated in accordance with certain ratio of the gross revenve for the fiscal year or each accounting period.
(b) Contingencies
(i) Please refer to Note 7 for the Group’s guarantees and endorsements for related parties' loans as of March 31, 2022 and 2021.
(ii) Contingencies for the Company and its subsidiary, Sunflower Investment, regarding the stages of Daguangsan tax petition for real estate transaction and non-performing receivables is as follows:

Litigant
The
Company
Sunflower
Investment

Issue
Current Status
Filing a petition for the
administrative penalty of
the value-added tax in the
Daguangsan
real estate
transaction
which
was
approved
by
National
Taxation Bureau of Taipei
National Taxation Bureau of Taipei has approved the additional
value-added tax and the regarding penalty amounting to $38,497
thousand, which the Company had paid $25,665 thousand in
2012. The Company was dissatisfied with the verdict from the
original authority, which has filed the administrative petition.
According to the ruling of the Taipei High Administrative Court,
the lawsuit has now been suspended.
Since
2011,
Sunflower
Investment had received
several
administrative
penalties
approved
by
National Tax Bureau of
Taipei which arose from
the withholding tax, value-
added
tax,
enterprise
income
tax
and
undistributed earning tax
of the Daguangsan non-
performing
receivables.
Sunflower Investment has
sought
administrative
remedy
for
the
aforementioned verdict.
National Tax Bureau of Taipei reduced the approved value-added
tax and the regarding penalties to the total amount of $564,452
thousand on June 6, 2014, which arose from Daguangsan non-
performing receivables. The aforementioned amount had been
paid in the amount of $46,174 thousand. Sunflower Investment
was dissatisfied with the verdicts and filed the petitions of the
review, appeal and administrative litigation, which are being
processed by the authority. The administrative litigation was filed
against Taipei High Administrative Court on December 24, 2013.
In accordance with the Administrative Regulation Article 177,
Section 1 and 2, Taipei High Administrative Court suspended the
proceeding of the lawsuit on July 25, 2016. Considering the risk
of losing the lawsuit in the future, Sunflower Investment assessed
the aforementioned possible losses based on the conservative
principle and estimate the contingent liabilities. For details of
regarding contingencies, please refer to Note 6(r).

National Tax Bureau of Taipei reduced the approved value-added tax and the regarding penalties to the total amount of $564,452 thousand on June 6, 2014, which arose from Daguangsan nonperforming receivables. The aforementioned amount had been paid in the amount of $46,174 thousand. Sunflower Investment was dissatisfied with the verdicts and filed the petitions of the review, appeal and administrative litigation, which are being processed by the authority. The administrative litigation was filed against Taipei High Administrative Court on December 24, 2013. In accordance with the Administrative Regulation Article 177, Section 1 and 2, Taipei High Administrative Court suspended the proceeding of the lawsuit on July 25, 2016. Considering the risk of losing the lawsuit in the future, Sunflower Investment assessed the aforementioned possible losses based on the conservative principle and estimate the contingent liabilities. For details of regarding contingencies, please refer to Note 6(r).

(10) Losses due to major disasters: None.

(11) Subsequent events: None.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(12) Other:

(a) The Securities and Futures Investors Protection Center (SFIPC) filed a criminal incidental civil action on behalf of the Company against the former chairman of the Company, Mr. Ming Shiann, Ho. The appeal was handed back over to the High Court for reconsideration on August 22, 2019, which is in trial in the Tainan Branch of Taiwan High Court.
(b) The SFIPC filed a lawsuit against the Company, its directors and supervisors, and certain employees of the Group. On January 2, 2020, Taiwan High Court dismissed the appeal filed by the SFIPC for the second time. On February 5, 2020, the SFIPC filed an appeal to the Supreme Court against the aforementioned conviction, which is now in trial in the Supreme court.
(c) Employee benefits, depreciation, and amortization are summarized as follows:

By function By item	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
	2022			2021
	Operating Costs	Operating Expenses	Total	Operating Costs	Operating Expenses	Total
Employee benefits
Salary	180,676	174,557	355,233	176,037	156,214	332,251
Labor and health insurance	15,463	13,608	29,071	14,670	12,023	26,693
Pension	12,282	8,642	20,924	11,223	8,664	19,887
Others	16,045	11,136	27,181	16,775	11,981	28,756
Depreciation	180,420	75,724	256,144	181,276	73,419	254,695
Amortization	327	1,103	1,430	439	789	1,228

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(13) Other disclosures:

(a) Information on significant transactions:

The following is the information on significant transactions for the three months ended March 31, 2022, required by the “Regulations Governing the Preparation of Financial Reports by Securities Issuers” for the Group:

(i) Loans to other parties:

(In Thousands of NTD)

No.	Lender	Borrower	Financial Statement Account	Related Parties	Highest Balance During the Period	Ending Balance (Note 1)	Actual Borrowing Amount	Interest Rate	Nature for Financing (Note 2)	Transaction Amount for Business	Reasons for Short-term Financing	Allowance for Doubtful Accounts	Collateral	Collateral	Financing Limit for Each Borrower (Note 3)	Aggregate Financing Limit (Note 4)
													Item	Value
0	The Company	The Hotel National	Accounts receivable due from related parties	Yes	53,000	-	-	1.15%	2	-	Operation requirements	-		-	4,038,181	5,384,242
0	The Company	UEA	Accounts receivable due from related parties	Yes	57,260	57,260	-	1.28%	2	-	Operation requirements	-		-	4,038,181	5,384,242
1	Tianjin CMT	Suzhou CMB	Accounts receivable due from related parties	Yes	112,750	112,750	112,750	0.75%	2	-	Operation requirements	-		-	331,109	441,479
1	Tianjin CMT	CMH	Accounts receivable due from related parties	Yes	315,700	315,700	315,700	0.75%	2	-	Operation requirements	-		-	331,109	441,479
2	Suzhou CMS	CMH	Accounts receivable due from related parties	Yes	676,500	676,500	676,500	0.75%	2	-	Operation requirements	-		-	1,317,650	1,756,867
3	CMAI	Pilot	Accounts receivable due from related parties	Yes	41,514	41,514	41,514	0.17%	2	-	Operation requirements	-	Land, buildings and improvement	67,178	41,270	55,027

Note 1: Balance of loan as of the reporting date was within the credit limits approved by the Board of Directors.

Note 2: 1. For business transactions.

For the necessity of short-term financing.

Note 3: The lender’s total amount available for lending shall not exceed 30% of its net worth.

Note 4: The lender’s total amount available for lending shall not exceed 40% of its net worth.

Note 5: Pilot repaid part of the payment before April 30, 2022, and as of the reporting date, there had been no overrun. Note 6: Intra-group transactions have been eliminated in the consolidated financial statements.

(ii) Guarantees and endorsements for other parties:

(In Thousands of NTD)

No.	Name of Guarantor/ Endorse	Counter-party of Guarantee and Endorsement	Counter-party of Guarantee and Endorsement	Limitation on Amount of Guarantees and Endorsements for a Specific Enterprise (Note 4)	Highest Balance for Guarantees and Endorsements During the Period	Ending Balance (Note 2)	Actual Borrowing Amount	Property Pledged for Guarantees and Endorsements	Ratio of Accumulated Amounts of Guarantees and Endorsements to Net Worth of the Latest Financial Statements	Maximum Amount for Guarantees and Endorsements (Note 5)	Parent Company Endorsements/ Guarantees to Third Parties on Behalf of Subsidiary (Note 3)	Subsidiary Endorsements/ Guarantees to Third Parties on Behalf of Parent Company (Note 3)	Endorsements/ Guarantees to Third Parties on Behalf of Companies in Mainland China (Note 3)
		Name	Relationship with the Company (Note 1)
0	The Company	Sunflower Investment	1	5,384,242	110,000	110,000	70,000	-	% 0.82	6,730,302	Y	N	N
0	The Company	The Hotel National	1	5,384,242	100,000	100,000	10,000	-	% 0.74	6,730,302	Y	N	N
0	The Company	Shangrila Tourism	1	5,384,242	652,500	652,500	379,000	-	% 4.85	6,730,302	Y	N	N

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

No.	Name of Guarantor/ Endorse	Counter-party of Guarantee and Endorsement	Counter-party of Guarantee and Endorsement	Limitation on Amount of Guarantees and Endorsements for a Specific Enterprise (Note 4)	Highest Balance for Guarantees and Endorsements During the Period	Ending Balance (Note 2)	Actual Borrowing Amount	Property Pledged for Guarantees and Endorsements	Ratio of Accumulated Amounts of Guarantees and Endorsements to Net Worth of the Latest Financial Statements	Maximum Amount for Guarantees and Endorsements (Note 5)	Parent Company Endorsements/ Guarantees to Third Parties on Behalf of Subsidiary (Note 3)	Subsidiary Endorsements/ Guarantees to Third Parties on Behalf of Parent Company (Note 3)	Endorsements/ Guarantees to Third Parties on Behalf of Companies in Mainland China (Note 3)
		Name	Relationship with the Company (Note 1)
0	The Company	The Splendor Hospitality	2	5,384,242	2,050,000	2,050,000	1,525,000	-	% 15.23	6,730,302	N	N	N
0	The Company	CMAAN Health	2	5,384,242	45,680	45,680	24,179	-	% 0.34	6,730,302	N	N	N
1	CMI	UEA	3	4,148,182	1,164,934	1,164,934	1,164,934	-	% 11.23	5,185,227	N	N	N

Note 1: 1.The Company held directly or indirectly more than 50% of the shares with voting rights.
2.Due to the joint investment relationship, all of the shareholders of the Group endorse the company in accordance with their investment ratio.
3.The company held directly or indirectly more than 50% of the shares with voting rights.
4.The company held directly or indirectly more than 90% of the shares with voting rights.
Note 2: Balance of guarantees and endorsements as of the reporting date was within the credit limit approved by the Board of Directors.
Note 3: The following three situations are filled in Y: the endorsement of the subsidiary by the Company; the endorsement of the Company by the subsidiary and the endorsement to the company located in Mainland China.
Note 4: The guarantor’s total amount available for guarantee and endorsement shall not exceed the percentage mentioned below of its net worth: The Company 40% and CMI 40%.
Note 5: The guarantor’s total amount available for guarantee and endorsement shall not exceed the percentage mentioned below of its net worth: The Company 50% and CMI 50%.

(iii) Securities held as of March 31, 2022 (excluding investment in subsidiaries, associates and joint ventures):

(In Thousands of NTD)

				(In Thousands	(In Thousands	(In Thousands	(In Thousands	of NTD)
Name of Holder	Category and Name of Security	Relationship with Issued Company	Account	Ending Balance				Note
				Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
The Company	MEITA Industrial Co., Ltd.	The Company is the legal person	Non-current financial assets at FVOCI	1,351,164	115,049	% 3.12	115,049
The Company	YUHUA Venture Capital Co., Ltd.	-	Non-current financial assets at FVOCI	4,999	194	% 1.25	194
The Company	FUHUA Venture Capital Co., Ltd.	-	Non-current financial assets at FVOCI	5,000	637	% 1.67	637
The Company	GUANGYUAN Investment Co., Ltd.	-	Non-current financial assets at FVOCI	3,750,000	31,362	% 3.91	31,362
The Company	DEVELOPMENT Venture Capital Co., Ltd.	The Company is the legal person	Non-current financial assets at FVOCI	3,600,000	17,241	% 4.00	17,241
The Company	Pacific Electric Wire & Cable Co., Ltd.	-	Current financial assets at FVTPL	81,666	-	% 0.01	-
Sunflower Investment	YungTay Engineering Co., Ltd.	-	Non-current financial assets at FVOCI	573,000	37,016	% 0.14	37,016
Sunflower Investment	Fantasystory Inc.	-	Non-current financial assets at FVOCI	1,742,746	-	% 19.80	-
Sunflower Investment	il. COM, INC	-	Non-current financial assets at FVOCI	100,000	-	% 0.52	-
The Hotel National	Century National Technology Co., Ltd.	-	Non-current financial assets at FVOCI	35,600	-	% 2.34	-
Atrans Precision	Acore Material Technology Co., Ltd.	-	Non-current financial assets at FVOCI	42,466	-	% 2.12	-

(iv) Individual securities acquired or disposed of with accumulated amount exceeding NT$300 million or 20% of the share capital: None.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(v) Information on the acquisition of real estate exceeding NT$300 million or 20% of the share capital: None.
(vi) Information on the disposal of real estate exceeding of NT$300 million or 20% of the share capital: None.
(vii) Information regarding related-party transactions for purchases and sales exceeding NT$300 million or 20% of the share capital:

(In Thousands of NTD)

									(In Thousands of	(In Thousands of	NTD)
Name of Company	Related Party	Nature of Relationship	Transaction Details				Transactions with Terms Different from Others		Notes/Accounts Receivable (Payable)		Note
			Purchase/Sale	Amount	Percentage of Total Purchases/Sales	Payment Terms	Unit Price	Payment Terms	Ending Balance	Percentage of Total Notes/Accounts Receivable (Payable)
Suzhou CMS	CMI S	ubsidiaries	Sale	297,521	% 43.13	180 days	-	-	1,895,838	80.26%
CMW (Tianjin)	CMW (C.I.) S	ubsidiaries	Sale	336,554	% 30.90	180 days	-	-	1,920,965	57.66%

Note : Intra-group transactions have been eliminated in the consolidated financial statements.

(viii) Receivables from related parties with amounts exceeding the lower of NT$100 million or 20% of the share capital:

(In Thousands of NTD/In CNY)

Name of Company	Counter-party	Nature of Relationship	Ending Balance	Turnover Rate	Overdue	Overdue	Amounts Received in Subsequent Period	Allowance for Bad Debts
					Amount	Action Taken
CMI	CMB (H.K.)	Parent company	Accounts receivable due from related parties, other 204,129	-	-	-	-	-
CMW (C.I.)	CMI	Subsidiaries	Accounts receivable due from related parties, other 2,302,975	-	-	-	CNY 20,000,000	-
CMP (H.K.)	CMI	Subsidiaries	Accounts receivable due from related parties, other 361,911	-	-	-	-	-
CMW (Tianjin)	CMW (C.I.)	Subsidiaries	Accounts receivable due from related parties 1,920,965	0.69	-	-	CNY 21,234,570	-
Tianjin CMT	CMI	Subsidiaries	Accounts receivable due from related parties 269,447	-	-	-	-	-
Tianjin CMT	CMH	Affiliates	Accounts receivable due from related parties, other 315,700	-	-	-	-	-
Tianjin CMT	Suzhou CMB	Affiliates	Accounts receivable due from related parties, other 112,750	-	-	-	-	-
Suzhou CMB	CMI	Subsidiaries	Accounts receivable due from related parties 169,210	-	-	-	-	-
Suzhou CMS	CMI	Subsidiaries	Accounts receivable due from related parties 1,895,838	0.63	-	-	CNY 26,337,195	-
Suzhou CMS	CMH	Affiliates	Accounts receivable due from related parties, other 676,500	-	-	-	-	-

Note : Intra-group transactions have been eliminated in the consolidated financial statements.

(ix) Trading in derivative instruments: None.
(x) Business relationships and significant intercompany transactions:

(In Thousands of NTD)

No. (Note 1)	Name of Company	Name of Counter-party	Nature of Relationship (Note 2)	Intercompany Transactions (Note 3)	Intercompany Transactions (Note 3)	Intercompany Transactions (Note 3)	Intercompany Transactions (Note 3)
				Account	Amount	Trading Terms	Percentage of the Total Consolidated Revenue or Total Assets (Note 4)
0	China Metal Products	Atrans Precision	1	Operating revenue	16,999	60~90 days	0.37%
1	CMW (Tianjin)	CMW (C.I.)	2	Operating revenue	336,554	180 days	7.32%
3	Suzhou CMS	CMI	2	Operating revenue	297,521	180 days	6.47%
4	Suzhou CMB	Suzhou CMS	3	Operating revenue	23,443	90 days	0.51%
4	Suzhou CMB	CMI	2	Operating revenue	56,972	180 days	1.24%
4	Suzhou CMB	CMB(H.K.)	2	Operating revenue	10,430	180 days	0.23%
5	National Management	China Metal Products	2	Operating revenue	20,153	OA25 days	0.44%
13	CMH	CMW (Tianjin)	3	Operating revenue	35,570	90 days	0.77%
12	CMAI(N.A.)	CMAI	2	Operating revenue	14,368	90~120 days	0.31%
0	China Metal Products	Atrans Precision	1	Accounts receivable due from related parties	22,844	60~90 days	0.05%
1	CMW (Tianjin)	CMW(C.I.)	2	Accounts receivable due from related parties	1,920,965	180 days	3.88%
2	Tanjin CMT	CMI	2	Accounts receivable due from related parties	269,447	180 days	0.54%

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

No. (Note 1)	Name of Company	Name of Counter-party	Nature of Relationship (Note 2)	Intercompany Transactions (Note 3)	Intercompany Transactions (Note 3)	Intercompany Transactions (Note 3)	Intercompany Transactions (Note 3)
				Account	Amount	Trading Terms	Percentage of the Total Consolidated Revenue or Total Assets (Note 4)
2	Tanjin CMT	CMW (Tianjin)	3	Accounts receivable due from related parties	44,853	90 days	0.09%
13	CMH	CMW (Tianjin)	3	Accounts receivable due from related parties	32,913	90 days	0.07%
13	CMH	Suzhou CMB	3	Accounts receivable due from related parties	17,599	90 days	0.04%
13	CMH	Suzhou CMS	3	Accounts receivable due from related parties	12,926	90 days	0.03%
3	Suzhou CMS	CMI	2	Accounts receivable due from related parties	1,895,838	180 days	3.83%
4	Suzhou CMB	CMB (H.K.)	2	Accounts receivable due from related parties	43,527	180 days	0.09%
4	Suzhou CMB	CMI	2	Accounts receivable due from related parties	169,210	180 days	0.34%
4	Suzhou CMB	Suzhou CMS	3	Accounts receivable due from related parties	30,509	90 days	0.06%
7	CMW(C.I.)	CMAI	3	Accounts receivable due from related parties	12,951	90 days	0.03%
0	China Metal Products	CMJ	1	Other receivables due from related parties	12,190	-	0.02%
2	Tianjin CMT	Suzhou CMS	3	Other receivables due from related parties	11,751	-	0.02%
2	Tianjin CMT	Suzhou CMB	3	Other receivables due from related parties	112,750	-	0.23%
2	Tianjin CMT	CMH	3	Other receivables due from related parties	315,700	-	0.64%
3	Suzhou CMS	CMH	3	Other receivables due from related parties	676,500	-	1.37%
6	CMI	CMB (H.K.)	1	Other receivables due from related parties	204,129	-	0.41%
6	CMI	CMH	1	Other receivables due from related parties	23,581	-	0.05%
7	CMW (C.I.)	CMW (Tianjin)	1	Other receivables due from related parties	47,957	-	0.10%
7	CMW (C.I.)	CMI	2	Other receivables due from related parties	2,302,975	-	4.65%
9	CMP (H.K.)	CMI	2	Other receivables due from related parties	361,911	-	0.73%
11	CMAI	Pilot	1	Other receivables due from related parties	41,549	-	0.08%
11	CMAI	CMAI (N.A.)	1	Other receivables due from related parties	27,703	-	0.06%
10	CHINGENG Land Development	PUJEN	2	Other receivables due from related parties	10,878	-	0.02%
14	PUJEN	CHINGENG Land Development	1	Other receivables due from related parties	31,966	-	0.06%
8	CMB (H.K.)	Suzhou CMB	1	Other long-term receivables due from related parties	24,908	-	0.05%

Note 1: For the inter-company business relationship and transaction condition in the “Number” column, the labeling method is as follows: 1. Parent company - 0.

Subsidiaries – In sequence from 1.

Note 2: Relationship is classified into three types:

Parent company to subsidiary.
Subsidiary to parent company.
Subsidiary to subsidiary.

Note 3: The Group only disclosed the information on sales and accounts receivable with subsidiary and did not give unnecessary details of opposite purchases and accounts payables in this part.

Note 4: The transaction amount is divided by the consolidated operating revenue or the consolidated total assets. Note 5: Intra-group transactions have been eliminated in the consolidated financial statements.

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(b) Information on investees:

The following is the information on investees for the three months ended March 31, 2022 (excluding information on investees in Mainland China):

(In Thousands of NTD/In USD and CNY)

Name of Investor	Name of Investee	Location	Main Businesses	Original Investment Amount	Original Investment Amount	Balance as of March 31, 2022	Balance as of March 31, 2022	Balance as of March 31, 2022	Net Income (Losses) of Investee	Share of Profits/Losses of Investee	Note
				March 31, 2022	December 31, 2021	Shares	Percentage of Ownership	Carrying Value
The Company	UEA	British Virgin Islands	Investing in CMI	865,286	865,286	667,820	% 100.00	7,618,930	113,477	113,477	Subsidiaries
The Company	Sunflower Investment	Taiwan	Investing	99,096	99,000	67,013,057	% 99.01	1,006,986	51,210	50,698	Subsidiaries
The Company	Atrans Precision	Taiwan	Vehicle parts processing	247,218	247,218	25,782,134	% 72.24	415,605	22,526	15,431	Subsidiaries
The Company	CMJ	Japan	Cast iron product retailing	4,887	4,887	500	% 83.33	96,829	11,194	9,328	Subsidiaries
The Company	CMAI	Hong Kong	Vehicle parts retailing	24,036	24,036	1,000,000	% 100.00	140,841	3,198	3,198	Subsidiaries
The Company	PUJEN Land Development	Taiwan	Residents, commercial buildings and factories leasing and developing	2,003,067	2,003,067	158,877,643	% 56.65	4,607,697	333,785	183,046	Subsidiaries
The Company	Amida Trustlink Assets	Taiwan	Real estate developing, leasing and financial claims acquiring from financial institutions	44,576	44,576	16,763,726	% 35.21	(21,760)	(154)	-	Investees accounted for using equity method
The Company	The Hotel National	Taiwan	International tourist hotel services	1,515,952	1,515,952	5,000,000	% 100.00	909,851	(1,947)	(2,420)	Subsidiaries
The Company	National Management	Taiwan	Management and consulting services	10,000	10,000	1,000,000	% 100.00	16,593	2,585	4,860	Subsidiaries
The Company	The Splendor Hospitality	Taiwan	International tourist hotel services	1,125,000	975,000	32,500,000	% 50.00	304,676	(15,679)	(11,279)	Joint ventures accounted for using equity method
The Company	Shangrila Tourism	Taiwan	Amusement park and hotel services	559,470	559,470	22,131,840	% 97.65	417,474	(3,361)	(1,351)	Subsidiaries
The Company	CMAAN Health	Taiwan	Management and consulting services	50,000	50,000	5,000,000	% 50.00	43,932	2,522	1,197	Joint ventures accounted for using equity method
The Company	InterContinental Taichung	Taiwan	International tourist hotel services	88,800	88,800	8,880,000	% 100.00	88,627	(10)	(10)	Subsidiaries
The Company	Calligraphy Greenway Plaza Co., Ltd	Taiwan	Management and consulting services	59,000	59,000	5,900,000	% 100.00	59,036	4,212	1,936	Subsidiaries
Sunflower Investment	PUJEN Land Development	Taiwan	Residents, commercial buildings and factories leasing and developing	280,768	280,768	42,269,213	% 15.07	1,190,824	333,785	Exempt from disclosure	Subsidiaries of the Company
Sunflower Investment	Atrans Precision	Taiwan	Vehicle parts processing	77,836	77,836	4,737,380	% 13.27	76,001	22,526	Exempt from disclosure	Subsidiaries of the Company
Sunflower Investment	Amida Trustlink Assets	Taiwan	Real estate developing, leasing and financial claims acquiring from financial institutions	-	-	5,951,619	% 12.50	(7,727)	(154)	Exempt from disclosure	Investees accounted for using equity method
Sunflower Investment	ADVANCISION (CAYMAN)	Cayman Islands	Investing and cast iron product retailing	29,154	29,154	1,871,288	% 4.46	25,722	(715)	Exempt from disclosure	Investee accounted for using equity method
UEA	CMI	Cayman Islands	Investing in CMI (BVI) and cast iron product retailing	USD 136,536,250	USD 136,536,250	823,281,475	% 83.27	USD 306,016,274	USD 5,022,524	Exempt from disclosure	Subsidiaries of UEA
CMI	CMI (BVI)	British Virgin Islands	Investing in CMP (H.K.)	USD 280,426	USD 280,426	161	% 100.00	CNY 1,295,651,646	CNY 12,392,561	Exempt from disclosure	Subsidiaries of CMI
CMI	CMW (C.I.)	Cayman Islands	Investing in CMW (Tianjin) and CMH	USD 75,156,500	USD 75,156,500	50,000,000	% 100.00	CNY 1,840,923,399	CNY 14,970,314	Exempt from disclosure	Subsidiaries of CMI
CMI	CMB (H.K.)	Hong Kong	Investing in Suzhou CMB	USD 85,820,000	USD 85,820,000	82,000,000	% 100.00	CNY 553,863,809	CNY (3,129,825)	Exempt from disclosure	Subsidiaries of CMI
CMI(BVI)	CMP (H.K.)	Hong Kong	Investing in Tianjin CMT and Suzhou CMS	USD 21,000,000	USD 21,000,000	21,000,000	% 100.00	CNY 1,299,480,068	CNY 12,392,561	Exempt from disclosure	Subsidiaries of CMI(BVI)
CMAI	CMAI Holding	USA	Investing	USD 8,328,644	USD 8,328,644	10,000	% 100.00	USD 2,409,166	USD (116,003)	Exempt from disclosure	Subsidiaries of CMAI
CMAI Holding	Pilot	USA	Assets leasing	USD 8,328,644	USD 8,328,644	-	% 100.00	USD 2,409,166	USD (116,003)	Exempt from disclosure	Subsidiaries of CMAI Holding
Pilot	CMAI (N.A.)	USA	Vehicle parts retailing	USD 7,792,972	USD 7,792,972	10,000	% 100.00	USD 1,404,090	USD (142,870)	Exempt from disclosure	Subsidiaries of Pilot
Atrans Precision	FAR HSING (SAMOA)	SAMOA	Investing	USD 3,922,055	USD 3,922,055	3,922,055	% 100.00	120,872	(153)	Exempt from disclosure	Subsidiaries of Atrans Precision
FAR HSING (SAMOA)	ADVANCISION (CAYMAN)	Cayman Islands	Investing and cast iron product retailing	USD 4,959,029	USD 4,959,029	9,068,414	% 21.59	USD 3,761,253	USD (25,560)	Exempt from disclosure	Investees of FAR HSING (SAMOA) accounted for using equity method
PUJEN Land Development	Keng-Hsin Urban Renewal	Taiwan	Residents, commercial buildings and factories leasing and developing	250,928	250,928	32,864,188	% 30.00	423,397	3,481	Exempt from disclosure	Investees of PUJEN Land Development accounted for using equity method
PUJEN Land Development	CHINGENG Land Development	Taiwan	Residents, commercial buildings and factories leasing and developing	1,500	1,500	150,000	% 50.00	8,982	7,162	Exempt from disclosure	Subsidiaries of PUJEN Land Development
PUJEN Land Development	PUJEN CHENGMEI Land Development	Taiwan	Residents, commercial buildings and factories leasing and developing	94,500	94,500	9,450,000	% 70.00	68,927	(44)	Exempt from disclosure	Subsidiaries of PUJEN Land Development
PUJEN Land Development	PUCHIA Land Development	Taiwan	Residents, commercial buildings and factories leasing and developing	50	50	5,000	% 50.00	1,828	(81)	Exempt from disclosure	Subsidiaries of PUJEN Land Development
PUJEN Land Development	Shangrila Tourism	Taiwan	Amusement park and hotel services	89,867	89,867	532,960	% 2.35	10,050	(3,361)	Exempt from disclosure	Subsidiaries of the Company

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

Name of Investor	Name of Investee	Location	Main Businesses	Original Investment Amount	Original Investment Amount	Balance as of March 31, 2022	Balance as of March 31, 2022	Balance as of March 31, 2022	Net Income (Losses) of Investee	Share of Profits/Losses of Investee	Note
				March 31, 2022	December 31, 2021	Shares	Percentage of Ownership	Carrying Value
UJEN Land Development	Hua-Pu Development	Taiwan	Residents, commercial buildings and factories leasing and developing	5,000	5,000	500,000	% 50.00	5,293	(14)	Exempt from disclosure	Joint ventures of PUJEN Land Development accounted for using equity method
UJEN Land Development	Beyond Fitness	Taiwan	Sport training and other consulting service	4,050	4,050	494,333	% 36.82	2,309	(89)	Exempt from disclosure	Investees of PUJEN Land Development accounted for using equity method

(c) Information on investment in Mainland China:

(i) The names of investees in Mainland China, the main businesses and products, and other information:

(In Thousands of NTD, CNY, USD and JPY)

Name of Investee	Main Businesses	Total Amount of Paid-in Capital	Method of Investment (Note 1)	Accumulated Outflow of Investment from Taiwan as of January 1, 2022	Investme	nt Flows	Accumulated Outflow of Investment from Taiwan as of March 31, 2022	Net Income (Losses) of the Investee	Percentage of Ownership	Investment Income (Losses) (Notes 2,3)	Book Value (Note 3)	Accumulated Remittance of Earnings in Current Period (Note 5)
					Outflow	Inflow
Tianjin CMT	Cast iron products, machine parts and vehicle parts designing, developing, manufacturing and selling	858,900 (USD30,000)	2	388,238	-	-	388,238	(4,538) (CNY(1,029))	83.27%	(3,779) (CNY(857))	1,103,698 (CNY244,722)	82,542
Suzhou CMS	Cast iron products, machine parts and vehicle parts designing, developing, manufacturing and selling	687,120 (USD24,000)	2	423,406	-	-	423,406	59,771 (CNY13,554)	83.27%	49,744 (CNY11,280)	4,392,896 (CNY974,035)	14,601
Suzhou CMB	Cast iron product designing, manufacturingand retailing	2,347,660 (USD82,000)	2	-	-	-	-	(8,880) (CNY(2,014))	83.27%	(7,394) (CNY(1,677))	2,693,560 (CNY597,242)	-
CMW (Tianjin)	Vehicle parts, E&M as- casting and finished product developing, manufacturing and selling	916,160 (USD32,000)	2	-	-	-	-	81,712 (CNY18,529)	83.27%	82,349 (CNY18,673)	5,376,748 (CNY1,192,184)	-
CMH	Vehicle parts, farm wagon parts, industrial wagon parts household appliances parts and E&M as-casting and molds developing, manufacturing, selling and after sales services	916,160 (USD32,000)	2	-	-	-	-	(17,374) (CNY(3,940))	83.27%	(14,467) (CNY(3,281))	929,215 (CNY206,034)	-
Qingdao Sourcing Specialists	Cast iron product retailing	2,863 (USD100)	2	-	-	-	-	695 (JPY2,885)	83.33%	579 (JPY2,404)	48,976 (JPY208,143)	-

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(ii) Limitation on investment in Mainland China:

(In Thousands of NTD and USD)

	(In	Thousands of NTD and USD)
Accumulated Investment in Mainland China as of March 31, 2022	Investment Amount Authorized by the Investment Commission, MOEA	Upper Limit on Investment (Note 4)
811,644	5,972,819 (USD 208,621 )	-

Note 1: Method of investment is classified into three types:
Directly invested in Mainland China.
Indirectly invested in Mainland China through the third region.
Other methods.
Note 2: The recognition basis of the investment income and losses is the financial report audited by an international accounting firm which is in partnership with the accounting firm in the R.O.C.
Note 3: The amount stated is the investment income and losses and the book value of the investment at the end of the period which is recognized by the subsidiaries established through the investment in the third region.
Note 4: The Company complies with the amended Permit 9704604680 ‘ Investment or technical cooperation review principal in China’ , which obtained the certified documents of the operational scope of the headquarters from the Industrial Development Bureau, Ministry of Economic Affairs, with the valid period from March 3, 2020 to March 2, 2023. The restriction on the cumulative investment amount or proportion in China is not applicable.
Note 5: As of March 31, 2022, the company had obtained a surplus of $3,024,627 thousand (USD100,455 thousand) from the investment companies set up in the third region. The surplus was remitted to the companies by the subsidiaries which was invested indirectly in China and then was remitted to Taiwan. It was impossible to distinguish the remittance from the company in China.
Note 6: The aforementioned investments have been eliminated in the consolidated financial statements.
Note 7: The amount in the table is translated by the spot rate on the financial reporting date.

(iii) Significant transactions: None.

(d) Major shareholders:

Major shareholders:
Shareholding Shareholder’s Name	Shares	Percentage
Chain-Yuan Investment Co., Ltd.	53,678,965	% 14.27
Fubon Life Assurance Co., Ltd.	27,944,000	% 7.42
Mr. Ming Shiann, Ho	26,312,540	% 6.99

(Continued)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(14) Segment information:

The Group’s operating segment information and reconciliation are as follows:

For the Three Months Ended March 31, 2022 Revenue from external customers Intersegment revenues Total revenue Reportable segment profit or loss For the Three Months Ended March 31, 2021 Revenue from external customers $ Intersegment revenues Total revenue $ Reportable segment profit or loss $	Metal Manufacturing Segment	Real Estate Development Segment 1,404,172 849 1,405,021 408,696 381,110 850 381,960 93,930	Lifestyle Hospitality Segment 163,748 21,620 185,368 17,611 167,809 23,611 191,420 9,875	Reconciliation and Elimination - (865,753) (865,753) (122,734) - (900,838) (900,838) (92,152)	Total
	$ 3,027,612 843,284 $ 3,870,896 $ 229,848 3,060,794 876,377 3,937,171 264,125				4,595,532 - 4,595,532 533,421 3,609,713 - 3,609,713 275,778

Note: The amount of assets and liabilities of the Group’ s reportable segments was not provided to the management. It is not required for disclosure.

AI assistant

CMP — Interim / Quarterly Report 2022

51855_rns_2022-11-11_14363397-2294-41c8-92a0-329abc53f182.pdf

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS

Table of contents

KPMG

Independent Auditors’ Review Report

Introduction

Scope of Review

Basis for Qualified Conclusion

Qualified Conclusion

KPMG

Notes to Readers

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES

Consolidated Balance Sheets

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES

Consolidated Statements of Comprehensive Income

For the Three Months Ended March 31, 2022 and 2021

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES

Consolidated Statements of Changes in Equity

(English Translation of Consolidated Financial Statements Originally Issued in Chinese) Reviewed only, not audited in accordance with generally accepted auditing standards

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES

Consolidated Statements of Cash Flows

For the Three Months Ended March 31, 2022 and 2021

(Expressed in Thousands of New Taiwan Dollars)

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

For the Three Months Ended March 31, 2022 and 2021

(1) Company history

(2) Approval date and procedures of the consolidated financial statements:

(3) New standards, amendments and interpretations adopted:

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(4) Summary of significant accounting policies

(a) Statement of compliance

(b) Basis of consolidation

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(c) Income taxes

(d) Employee benefits

(5) Significant accounting assumptions and judgments, and major sources of estimation uncertainty:

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(6) Explanation of significant accounts:

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(d) Inventories

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(ii) Joint ventures

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(i) Right-of-use assets

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(k) Intangible assets

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(l) Other non-current financial assets

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(n) Short-term borrowings

(i) Borrowing and repayment

(o) Long-term borrowings

(i) Borrowing and repayment

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(iii) Borrowing covenants

(p) Bonds payable

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(q) Lease liabilities

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(i) Real estate leases

(ii) Other leases

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(r) Provisions

(i) Financial guarantee contracts

(ii) Legal

(s) Operating leases

CHINA METAL PRODUCTS CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements

(t) Employee benefits

(i) Defined benefit plans

(ii) Defined contribution plans

CMP Interim / Quarterly Report 2022