CSC - Audit Report / Information 2022

China Steel Corporation

Standalone Financial Statements for the Years Ended December 31, 2022 and 2021 and Independent Auditors’ Report

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INDEPENDENT AUDITORS’ REPORT

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China Steel Corporation

Opinion

We have audited the accompanying standalone financial statements of China Steel Corporation (the “Corporation”), which comprise the standalone balance sheets as of December 31, 2022 and 2021, the standalone statements of comprehensive income, changes in equity and cash flows for the years then ended, and notes to the standalone financial statements, including a summary of significant accounting policies (collectively referred to as the “standalone financial statements”).

In our opinion, the accompanying standalone financial statements present fairly, in all material respects, the standalone financial position of the Corporation as of December 31, 2022 and 2021, its standalone financial performance and its standalone cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers.

Basis for Opinion

We conducted our audits in accordance with the Regulations Governing Auditing and Attestation of Financial Statements by Certified Public Accountants and the Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Standalone Financial Statements section of our report. We are independent of the Corporation in accordance with The Norm of Professional Ethics for Certified Public Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the standalone financial statements for the year ended December 31, 2022. These matters were addressed in the context of our audit of the standalone financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

Key audit matters of the Corporation’s standalone financial statements for the year ended December 31, 2022 are stated as follows:

Recognition of Revenue from Sale of Goods of Steel Department

The Corporation manufactures and sells steel products and engages in mechanical, communications, and electrical engineering. Revenue from sale of goods of steel department represented over 90% of the total operating revenue. Revenue recognition is presumed to be significant risk as revenue is subject to fluctuation in terms of market demand and it is the main focus of the users of financial report; therefore, revenue recognition was deemed to be a key audit matter. Refer to Notes 4 and 23 to the Corporation’s standalone financial statements for the related accounting policies and disclosures on sales revenue.

Our audit procedures performed included the following:

We understood the design and implementation of the procedures regarding approval of sales order, shipping and cash collection process of the Corporation’s steel department.
We evaluated the appropriateness of the recorded sales amounts by checking the nature, quantities, unit price, sales to major customers and sales of major goods of the Corporation’s steel department sales; we also reviewed comparative information of a two-year period.
We verified the occurrence and validity of the specific goods and customers by confirming the customer information, the correctness on the shipping documents or bill of lading and cash collection receipts.
We obtained subsequent details of the abovementioned specific goods and customers and checked whether there were any material and unusual sales returns and allowances and confirmed the appropriateness of accounting treatment and presentation.

Responsibilities of Management and Those Charged with Governance for the Standalone Financial Statements

Management is responsible for the preparation and fair presentation of the standalone financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, and for such internal control as management determines is necessary to enable the preparation of the Corporation’s financial statements that are free from material misstatement, whether due to fraud or error.

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

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

Auditors’ Responsibilities for the Audit of the Standalone Financial Statements

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

As part of an audit in accordance with the Standards on Auditing of the Republic of China, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the standalone financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Corporation’s internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Corporation’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the standalone financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Corporation to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the standalone financial statements, including the disclosures, and whether the standalone financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient and appropriate audit evidence regarding the financial information of entities or business activities within the Corporation to express an opinion on the standalone financial statements. We are responsible for the direction, supervision, and performance of the audit. We remain solely responsible for our audit opinion.

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

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

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the standalone financial statements for the year ended December 31, 2022 and are therefore the key audit matters. We describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

The engagement partners on the audits resulting in this independent auditors’ report are Jui-Hsuan Hsu and Jr-Shian Ke.

Deloitte & Touche Taipei, Taiwan Republic of China

February 24, 2023

Notice to Readers

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

For the convenience of readers, the independent auditors’ report and the accompanying standalone financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese-language independent auditors’ report and standalone financial statements shall prevail.

China Steel Corporation

STANDALONE BALANCE SHEETS

(In Thousands of New Taiwan Dollars)

STANDALONE BALANCE SHEETS (In Thousands of New Taiwan Dollars)
ASSETS CURRENT ASSETS Cash and cash equivalents (Notes 4 and 6) Financial assets for hedging - current (Notes 4, 9 and 28) Contract assets - current (Notes 4 and 23) Notes receivable (Notes 4 and 10) Accounts receivable, net (Notes 4 and 10) Accounts receivable - related parties (Notes 4, 10 and 29) Other receivables Other receivables - loans to related parties (Note 29) Current tax assets Inventories (Notes 4, 5 and 11) Other financial assets - current (Notes 13 and 30) Other current assets Total current assets NONCURRENT ASSETS Financial assets at fair value through profit or loss - noncurrent (Notes 4 and 7) Financial assets at fair value through other comprehensive income - noncurrent (Notes 4, 5 and 8) Financial assets for hedging - noncurrent (Notes 4, 9 and 28) Investments accounted for using the equity method (Notes 4, 12 and 30) Property, plant and equipment (Notes 4, 14 and 29) Right-of-use assets (Notes 4 and 15) Investment properties (Notes 4 and 16) Intangible assets Deferred tax assets (Notes 4 and 25) Refundable deposits Prepayments for investments (Note 12) Total noncurrent assets TOTAL LIABILITIES AND EQUITY CURRENT LIABILITIES Short-term borrowings and bank overdraft (Notes 17, 29 and 30) Short-term bills payable (Note 17) Financial liabilities for hedging - current (Notes 4, 9, 17 and 28) Contract liabilities - current (Notes 4 and 23) Accounts payable Accounts payable - related parties (Note 29) Other payables (Notes 19 and 29) Current tax liabilities (Note 25) Provisions - current (Notes 4 and 20) Lease liabilities - current (Notes 4 and 15) Current portion of bonds payable (Note 18) Long-term bank borrowings (Note 17) Refund liabilities - current Other current liabilities Total current liabilities NONCURRENT LIABILITIES Financial liabilities for hedging - noncurrent (Notes 4, 9, 17 and 28) Bonds payable (Note 18) Long-term bank borrowings (Note 17) Long-term bills payable (Note 17) Deferred tax liabilities (Notes 4 and 25) Lease liabilities - noncurrent (Notes 4 and 15) Net defined benefit liabilities (Note 21) Total noncurrent liabilities Total liabilities EQUITY (Notes 4 and 22) Share capital Ordinary shares Preference shares Total share capital Capital surplus Retained earnings Legal reserve Special reserve Unappropriated earnings Total retained earnings Other equity Treasury shares Total equity TOTAL		December 31, 2022		December 31, 2021
		Amount % $ 3,561,255 1 1,044,981 - 839,682 - 627,670 - 2,670,527 1 910,033 - 2,133,633 1 5,960,000 1 7,675 - 67,110,255 14 6,289,568 1 1,187,304 - 92,342,583 19 712,241 - 39,490,069 8 59,177 - 189,718,151 40 144,919,933 30 1,173,620 - 7,316,012 2 - - 2,948,391 1 442,230 - - - 386,779,824 81 $ 479,122,407 100 $ 25,365,690 5 13,476,961 3 1,242 - 1,452,353 - 4,468,055 1 954,646 - 15,931,393 3 2,135,370 - 2,990,709 1 353,725 - 8,349,635 2 - - 2,275,656 1 406,548 - 78,161,983 16 1,046,139 - 39,880,933 8 11,500,000 3 11,495,715 2 11,992,858 3 820,848 - 4,321,704 1 81,058,197 17 159,220,180 33 157,348,610 33 382,680 - 157,731,290 33 40,275,115 9 72,765,975 15 26,914,657 6 35,708,731 7 135,389,363 28 (4,844,120) (1) (8,649,421) (2) 319,902,227 67 $ 479,122,407 100		Amount % $ 3,755,569 1 382,328 - 179,901 - 998,439 - 3,666,782 1 2,245,295 1 2,742,493 1 6,962,000 1 285,201 - 68,933,671 14 6,681,289 1 896,757 - 97,729,725 20 731,198 - 39,251,278 8 210 - 201,220,220 40 147,119,445 29 1,158,745 - 7,336,879 2 4,978 - 3,472,579 1 705,129 - 1,250,000 - 402,250,661 80 $ 499,980,386 100 $ 12,891,338 3 - - 1,096,047 - 1,701,331 - 6,447,758 1 3,298,103 1 22,824,106 5 7,266,069 1 4,318,852 1 269,303 - 12,349,085 3 1,500,000 - 3,456,564 1 482,572 - 77,901,128 16 17,167 - 48,224,053 10 - - 5,897,934 1 11,712,835 2 896,263 - 6,302,241 1 73,050,493 14 150,951,621 30 157,348,610 32 382,680 - 157,731,290 32 39,238,636 8 66,611,343 13 27,639,574 6 70,863,295 14 165,114,212 33 (4,405,952) (1) (8,649,421) (2) 349,028,765 70 $ 499,980,386 100

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

China Steel Corporation

STANDALONE STATEMENTS OF COMPREHENSIVE INCOME (In Thousands of New Taiwan Dollars, Except Earnings Per Share)

OPERATING REVENUE (Notes 4, 23 and 29) OPERATING COSTS (Notes 11 and 29) GROSS PROFIT REALIZED (UNREALIZED) GAIN ON TRANSACTIONS WITH SUBSIDIARIES AND ASSOCIATES REALIZED GROSS PROFIT OPERATING EXPENSES Selling and marketing expenses General and administrative expenses Research and development expenses Total operating expenses PROFIT FROM OPERATIONS NON-OPERATING INCOME AND EXPENSES Interest income (Notes 24 and 29) Other income (Notes 24 and 29) Other gains and losses (Notes 24 and 29) Finance costs (Notes 24 and 29) Share of profit or loss of subsidiaries and associates Total non-operating income and expenses PROFIT BEFORE INCOME TAX INCOME TAX EXPENSE (Notes 4 and 25) NET PROFIT FOR THE YEAR OTHER COMPREHENSIVE INCOME (LOSS) (Notes 4, 22 and 25) Items that will not be reclassified subsequently to profit or loss Remeasurement of defined benefit plans		For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
		2022 Amount % $ 250,600,629 100 232,344,138 93 18,256,491 7 583,055 - 18,839,546 7 2,693,404 1 3,116,084 1 2,148,436 1 7,957,924 3 10,881,622 4 167,477 - 1,893,385 1 199,705 - (996,693) - 8,221,073 3 9,484,947 4 20,366,569 8 2,582,794 1 17,783,775 7 1,292,493 1		2021
				Amount % $ 259,782,471 100 209,566,237 81 50,216,234 19 (299,640) - 49,916,594 19 2,975,236 1 4,141,417 2 2,395,668 1 9,512,321 4 40,404,273 15 80,141 - 1,490,174 1 201,065 - (795,980) - 29,671,674 11 30,647,074 12 71,051,347 27 8,998,314 3 62,053,033 24 (628,138) - (Continued)

China Steel Corporation

STANDALONE STATEMENTS OF COMPREHENSIVE INCOME (In Thousands of New Taiwan Dollars, Except Earnings Per Share)

Unrealized gains and losses on investments in equity instruments at fair value through other comprehensive income Gains and losses on hedging instruments Share of the other comprehensive income of subsidiaries and associates Income tax benefit (expense) relating to items that will not be reclassified subsequently to profit or loss Items that may be reclassified subsequently to profit or loss Exchange differences on translating foreign operations Share of the other comprehensive income of subsidiaries and associates Other comprehensive income (loss) for the year, net of income tax TOTAL COMPREHENSIVE INCOME FOR THE YEAR EARNINGS PER SHARE (Note 26) Basic Diluted		For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
		2022 Amount % $ 238,791 - 224,031 - (3,293,217) (1) (301,338) - 2,256,946 1 601,370 - 1,019,076 1 $ 18,802,851 8 $ 1.15 $ 1.15		2021
				Amount % $ 1,024,622 - 98,087 - (714,062) - 132,486 - (1,508,504) (1) (129,628) - (1,725,137) (1) $ 60,327,896 23 $ 4.02 $ 3.98

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

(Concluded)

China Steel Corporation

STANDALONE STATEMENTS OF CHANGES IN EQUITY (In Thousands of New Taiwan Dollars, Except Dividends Per Share)

Share Ca		Retained Earnings				Other Eq	uity
				F	Exchange Differences on Translating oreign Operations $ (7,528,950) - - - - - - (1,638,132) (1,638,132) - - - - (9,167,082) - - - - - - 2,858,316 2,858,316 - - - - $ (6,308,766)	Unrealized Gains and Losses on Financial Assets at Fair Value Through Other Comprehensive Income $ 543,417 - - - - - - 513,958 513,958 - - (105,398) - 951,977 - - - - - - (4,051,776) (4,051,776) - - 52,903 - $ (3,046,896)	Gains and Losses on Hedging Instruments $ 3,797,864 - - - - - - 11,289 11,289 - - - - 3,809,153 - - - - - - 702,389 702,389 - - - - $ 4,511,542
	Legal Reserve $ 66,532,412 78,931 - - - - - - - - - - - 66,611,343 6,154,632 - - - - - - - - - - - $ 72,765,975	Special Reserve $ 27,912,065 - (272,355) - - (136) - - - - - - - 27,639,574 - (723,473) - - (1,444) - - - - - - - $ 26,914,657	Unappropriated Earnings $ 13,897,589 (78,931) 272,355 (4,720,458) (53,575) 136 62,053,033 (612,252) 61,440,781 - - 105,398 - 70,863,295 (6,154,632) 723,473 (48,778,069) (118,631) 1,444 17,783,775 1,510,147 19,293,922 - - (52,903) (69,168) $ 35,708,731
Ordinary Shares $ 157,348,610 - - - - - - - - - - - - 157,348,610 - - - - - - - - - - - - $ 157,348,610

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

China Steel Corporation

STANDALONE STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)

CASH FLOWS FROM OPERATING ACTIVITIES Profit before income tax Adjustments for: Depreciation expense Amortization expense Net gain on financial assets at fair value through profit or loss Finance costs Interest income Dividend income Share of profit of subsidiaries and associates Loss on disposal of property, plant and equipment Gain on disposal of investments Write-down of inventories Impairment loss on non-financial assets Unrealized (realized) gain on the transactions with subsidiaries and associates Recognition (reversal) of provisions Others Changes in operating assets and liabilities Financial assets for hedging Contract assets Notes receivable Notes receivable - related parties Accounts receivable Accounts receivable - related parties Other receivables Inventories Other current assets Contract liabilities Accounts payable Accounts payable - related parties Other payables Other current liabilities Net defined benefit liabilities Refund liabilities Cash generated from operations Income taxes paid Net cash generated from operating activities CASH FLOWS FROM INVESTING ACTIVITIES Derecognition of financial liabilities for hedging Acquisition of property, plant and equipment Proceeds from disposal of property, plant and equipment	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
		2022 $ 20,366,569 15,236,313 4,978 (7,640) 996,693 (167,477) (428,438) (8,221,073) 19,298 (28,415) 1,827,517 - (583,055) (1,328,143) (110,620) (536,825) (621,077) 370,769 - 996,255 1,335,262 613,631 113,976 (290,547) (248,978) (1,979,703) (2,343,457) (6,186,646) (76,024) (688,044) (1,180,908) 16,854,191 (6,933,089) 9,921,102 - (13,246,704) 45	2021 $ 71,051,347 15,118,366 9,956 (4,930) 795,980 (80,141) (451,620) (29,671,674) 42,792 - 1,258,710 663,904 299,640 30,860 180,798 92,845 320,982 (567,791) 111,592 (978,654) (190,840) (1,529,279) (30,815,057) (132,140) 501,089 2,306,618 2,231,118 7,173,005 (26,117) (1,115,946) 1,541,882 38,167,295 (109,328) 38,057,967 (631,020) (14,050,610) 88,503 (Continued)

China Steel Corporation

STANDALONE STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)

Increase in refundable deposits Decrease in refundable deposits Increase in other receivables - loans to related parties Decrease in other receivables - loans to related parties Net cash inflow on acquisition of subsidiary Increase in other financial assets Decrease in other financial assets Interest received Dividends received from subsidiaries and associates Dividends received from others Proceeds from liquidation of subsidiaries Proceeds from the capital reduction of associates Net cash generated (used in) investing activities CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from short-term borrowings Repayments of short-term borrowings Proceeds from short-term bills payable Repayments of short-term bills payable Repayments of bonds payable Issuance of long-term bank borrowings Repayments of long-term bank borrowings Proceeds from long-term bills payable Repayments of long-term bills payable Repayments of principal of lease liabilities Dividends paid Acquisition of subsidiaries Interest paid Proceeds from the capital reduction of subsidiaries Increase in prepayments for investments of subsidiaries Net cash used in financing activities NET INCREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
		2022 $ - 262,899 - 1,002,000 - - 391,721 155,397 21,349,387 435,748 408,554 233,361 10,992,408 63,264,960 (49,474,183) 34,876,961 (21,400,000) (12,350,000) 19,500,000 (9,500,000) 8,597,781 (3,000,000) (356,283) (48,872,707) - (1,203,648) 125,720 - (19,791,399) 1,122,111 (576,563) $ 545,548	2021 $ (459,564) - (1,268,000) - 46,173 (644,101) - 78,449 9,586,658 442,182 - - (6,811,330) 10,007,707 (8,855,043) 22,950,908 (26,950,000) (10,950,000) 6,000,000 (11,500,000) 426 (1,000,000) (318,148) (4,778,721) (2,750,430) (1,159,777) 139,350 (1,250,000) (30,413,728) 832,909 (1,409,472) $ (576,563) (Continued)

China Steel Corporation

STANDALONE STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)

Reconciliation of the amounts in the standalone statements of cash flows with the equivalent items reported in the standalone balance sheets as of December 31, 2022 and 2021: Cash and cash equivalents in the standalone balance sheets Bank overdraft Cash and cash equivalents in the standalone statements of cash flows	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
		2022 $ 3,561,255 (3,015,707) $ 545,548	2021 $ 3,755,569 (4,332,132) $ (576,563)

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

(Concluded)

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China Steel Corporation

NOTES TO STANDALONE FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

1. GENERAL INFORMATION

China Steel Corporation (the “Corporation”) was incorporated on December 3, 1971. It manufactures and sells steel products and engages in mechanical, communications, and electrical engineering.

The shares of the Corporation have been listed on the Taiwan Stock Exchange since December 1974. As of December 31, 2022, the Ministry of Economic Affairs (MOEA), Republic of China owned 20% of the Corporation’s issued shares.

The standalone financial statements are presented in the Corporation’s functional currency, the New Taiwan dollars.

2. APPROVAL OF FINANCIAL STATEMENTS

The standalone financial statements were approved by the Corporation’s board of directors and authorized for issue on February 24 , 2023.

3. APPLICATION OF NEW AND AMENDED STANDARDS AND INTERPRETATIONS

a. Initial application of the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), Interpretations of IFRS (IFRIC), and Interpretations of IAS (SIC) (collectively, the “IFRSs”) endorsed and issued into effect by the Financial Supervisory Commission (FSC)

The initial application of the IFRSs endorsed and issued into effect by the FSC did not have any material impact on the Corporation and its subsidiaries’ accounting policies.

b. The IFRSs endorsed by the FSC for application starting from 2023

New IFRSs 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”	Effective Date Announced by IASB
	January 1, 2023 (Note 1) January 1, 2023 (Note 2) January 1, 2023 (Note 3)

Note 1: The amendments will be applied prospectively for annual reporting periods beginning on or after January 1, 2023.
Note 2: The amendments will be applicable to changes in accounting estimates and changes in accounting policies that occur on or after the beginning of the annual reporting period beginning on or after January 1, 2023.
Note 3: Except for deferred taxes that will be recognized on January 1, 2022 for temporary differences associated with leases and decommissioning obligations, the amendments will be applied prospectively to transactions that occur on or after January 1, 2022.
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As of the date the standalone financial statements were authorized for issue, the Corporation has assessed that the application of other standards and interpretations will not have a material impact on the Corporation’s financial position and financial performance.

c. New IFRSs in issue but not yet endorsed and issued into effect by the FSC

Effective Date New IFRSs Announced by IASB (Note 1)

Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets To be determined by IASB between An Investor and Its Associate or Joint Venture” Amendments to IFRS 16“Leases Liability in a Sale and leaseback” January 1, 2024 (Note 2) IFRS 17 “Insurance Contracts” January 1, 2023 Amendments to IFRS 17 January 1, 2023 Amendments to IFRS 17 “Initial Application of IFRS 17 and IFRS 9 - January 1, 2023 Comparative Information” Amendments to IAS 1 “Classification of Liabilities as Current or January 1, 2024 Non-current” Amendments to IAS 1 “Non-current Liabilities with Covenants” January 1, 2024

Note 1: Unless stated otherwise, the above New IFRSs are effective for annual reporting periods beginning on or after their respective effective dates.
Note 2: A seller-lessee shall apply the Amendments to IFRS 16 retrospectively to sale and leaseback transactions entered into after the date of initial application of IFRS 16.

As of the date the standalone financial statements were authorized for issue, the Corporation is continuously assessing the possible impact that the application of other standards and interpretations will have on the Corporation’s financial position and financial performance and will disclose the relevant impact when the assessment is completed.

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

For readers’ convenience, the accompanying standalone financial statements have been translated into English from the original Chinese version prepared and used in the ROC. If inconsistencies arise between the English version and the Chinese version or if differences arise in the interpretations between the two versions, the Chinese version of the financial statements shall prevail. However, the accompanying standalone financial statements do not include English translation of the additional footnote disclosures that are not required under generally accepted accounting principles but are required by the Securities and Futures Bureau for their oversight purposes.

a. Statement of compliance

The standalone financial statements have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers.

b. Basis of preparation

The standalone financial statements have been prepared on the historical cost basis except for financial instruments that are measured at fair value and net defined benefit liabilities which are measured at the present value of the defined benefit obligation less the fair value of plan assets.

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The fair value measurements, which are grouped into Levels 1 to 3 based on the degree to which the fair value measurement inputs are observable and based on the significance of the inputs to the fair value measurement in its entirety, are described as follows:

1) Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities;
2) Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for an asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and
3) Level 3 inputs are unobservable inputs for an asset or liability.

The subsidiaries and associates are incorporated in the standalone financial statements under the equity method. To make net profit for the year, other comprehensive income and equity in the standalone financial statements equal to those attributed to owners of the Corporation on consolidated financial statements, the effect of the differences between basis of standalone and basis of consolidation are adjusted in the investments accounted for using equity method, the related share of the profit or loss, the related share of other comprehensive income of subsidiaries and associates and related equity.

c. Classification of current and noncurrent assets and liabilities

Current assets include:

1) Assets held primarily for the purpose of trading;
2) Assets expected to be realized within 12 months after the reporting period; and
3) Cash and cash equivalents unless the asset is restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period.

Current liabilities include:

1) Liabilities held primarily for the purpose of trading;
2) Liabilities due to be settled within 12 months after the reporting period, even if an agreement to refinance, or to reschedule payments, on a long-term basis is completed after the reporting period and before the standalone financial statements are authorized for issue; and
3) Liabilities for which the Corporation does not have an unconditional right to defer settlement for at least 12 months after the reporting period.

Assets and liabilities that are not classified as current are classified as noncurrent.

d. Foreign currencies

In preparing the standalone financial statements of the Corporation, transactions in currencies other than the Corporation’s functional currency (foreign currencies) are recognized at the rates of exchange prevailing at the dates of the transactions.

At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the closing rates. Exchange differences on monetary items arising from settlement or translation are recognized in profit or loss in the period in which they arise except for exchange differences on transactions entered into in order to hedge certain foreign currency risks.

Non-monetary items measured at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when the fair value was determined. Exchange differences arising from the retranslation of non-monetary items are recognized in profit or loss for the period except for

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exchange differences arising from the retranslation of non-monetary items in respect of which gains and losses are recognized directly in other comprehensive income, in which cases, the exchange differences are also recognized directly in other comprehensive income.

Non-monetary item that are measured at historical cost in a foreign currency are not retranslated.

For the purposes of presenting standalone financial statements, the investments of the Corporation’s foreign operations (including subsidiaries and associates operating in other countries or using currencies different from the Corporation’s currencies) are translated into the presentation currency, the New Taiwan dollar, as follows: Assets and liabilities are translated at the exchange rates prevailing at the end of the reporting period; income and expense items are translated at the average exchange rates for the year. The resulting currency translation differences are recognized in other comprehensive income.

On the disposal of a foreign operation (i.e. a disposal of the Corporation’s entire interest in a foreign operation, or a disposal involving the loss of control over a subsidiary that includes a foreign operation), all of the exchange differences accumulated in equity in respect of that operation are reclassified to profit or loss.

In relation to a partial disposal of a subsidiary that does not result in the Corporation losing control over the subsidiary, the proportionate share of accumulated exchange differences is included in the calculation of equity transactions but is not recognized in profit or loss. For all other partial disposals, the proportionate share of the accumulated exchange differences recognized in other comprehensive income is reclassified to profit or loss.

e. Inventories

Inventories consist of raw materials, supplies, finished goods, work in progress and are stated at the lower of cost or net realizable value. Inventory write-downs are made by item, except where it may be appropriate to group similar or related items. The net realizable value is the estimated selling price of inventories less all estimated costs of completion and costs necessary to make the sale. Inventories are recorded at moving average cost.

f. Investments in subsidiaries

The Corporation uses the equity method to account for its investments in subsidiaries.

A subsidiary is an entity that is controlled by the Corporation. Under the equity method, an investment is initially recognized at cost and adjusted thereafter to recognize the Corporation’s share of the profit or loss and other comprehensive income of the subsidiary. The Corporation also recognizes the changes in the share of other equity of subsidiaries.

Changes in the Corporation’s ownership interests in subsidiaries that do not result in the Corporation losing of control of the subsidiary are accounted for as equity transactions. Differences between the carrying amounts of the investment and the fair value of the consideration paid or received are directly recognized in equity.

Any excess of the cost of acquisition over the Corporation’s share of the net fair value of the identifiable assets and liabilities of a subsidiary recognized at the date of acquisition is recognized as goodwill, which is included within the carrying amount of the investment and is not amortized. Any excess of the Corporation’s share of the net fair value of the identifiable assets and liabilities over the cost of acquisition is recognized immediately in profit or loss.

The Corporation assesses its investment for any impairment by comparing the carrying amount with the estimated recoverable amount as assessed based on the investee’s financial statements as a whole. Impairment loss is recognized when the carrying amount exceeds the recoverable amount. If the recoverable amount of the investment subsequently increases, the Corporation recognizes a reversal of

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the impairment loss; the adjusted post-reversal carrying amount should not exceed the carrying amount that would have been recognized (net of amortization or depreciation) had no impairment loss been recognized in prior years. An impairment loss recognized on goodwill cannot be reversed in a subsequent period.

When the Corporation loses control of a subsidiary, it recognizes the investment retained in the former subsidiary at its fair value at the date when control is lost. The difference between the fair value of the retained investment plus any consideration received and the carrying amount of previous investment at the date when control is lost is recognized as a gain or loss in profit or loss. Besides, the Corporation accounts for all amounts previously recognized in other comprehensive income in relation to that subsidiary on the same basis as would be required if the Corporation had directly disposed of the related assets or liabilities.

Unrealized profits or losses on downstream transactions with subsidiaries are eliminated in the standalone financial statements. Profits and losses on transactions with subsidiaries other than downstream are recognized in standalone financial statements only to the extent of interests in the subsidiary that are not related to the Corporation.

g. Investment in associates

An associate is an entity over which the Corporation has significant influence and that is neither a subsidiary nor an interest in a joint venture.

The Corporation uses equity method to account for investment in associates. Under the equity method, an investment is initially recognized at cost and adjusted thereafter to recognize the Corporation’s share of the profit or loss and other comprehensive income of the associate. The Corporation also recognizes the changes in the share of equity of associates.

Any excess of the cost of acquisition over the Corporation’s share of the net fair value of the identifiable assets and liabilities of an associate recognized at the date of acquisition is recognized as goodwill, which is included within the carrying amount of the investment and is not amortized. Any excess of the Corporation’s share of the net fair value of the identifiable assets and liabilities over the cost of acquisition is recognized immediately in profit or loss.

When the Corporation subscribes for additional new shares of the associate, at a percentage different from its existing ownership percentage, the resulting carrying amount of the investment differs from the amount of the Corporation’s proportionate interest in the associate. The Corporation records such a difference as an adjustment to investments with the corresponding amount charged or credited to capital surplus. If the Corporation’s ownership interest is reduced due to non-subscription of the new shares of associate, the proportionate amount of the gains or losses previously recognized in other comprehensive income in relation to that associate is reclassified to profit or loss on the same basis as would be required if the investee had directly disposed of the related assets or liabilities. When the adjustment should be debited to capital surplus, but the capital surplus recognized from investments accounted for using equity method is insufficient, the shortage is debited to retained earnings.

When the Corporation’s share of losses of an associate equals or exceeds its interest in that associate (which includes any carrying amount of the investment accounted for using the equity method and long-term interests that, in substance, form part of the Corporation’s net investment in the associate), the Corporation discontinues recognizing its share of further losses. Additional losses and liabilities are recognized only to the extent that the Corporation has incurred legal obligations, or constructive obligations, or made payments on behalf of that associate.

When impairment loss is evaluated, the entire carrying amount of the investment (including goodwill) is tested for impairment as a single asset by comparing its recoverable amount with its carrying amount. Any impairment loss recognized is deducted from the carrying amount of the investment. Any reversal of that impairment loss is recognized to the extent that the recoverable amount of the investment has

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subsequently increased.

When the Corporation ceases to have significant influence over the associate, the Corporation will measure the retained investment at fair value at that date. The difference between the previous carrying amount of the associate attributable to the retained interest and its fair value is included in the determination of the gain or loss on disposal of the associate. The Corporation accounts for all amounts previously recognized in other comprehensive income in relation to that associate on the same basis as would be required if that associate had directly disposed of the related assets or liabilities.

When the Corporation transacts with its associates, profits or losses on these transactions are recognized in the standalone financial statements only to the extent of interests in the associate that are not related to the Corporation.

h. Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment loss.

Property, plant, and equipment in the course of construction are carried at cost. Cost includes professional fees and borrowing costs eligible for capitalization. Samples produced when testing whether an item of property, plant and equipment is functioning properly before that asset reaches its intended use are measured at the lower of cost or net realizable value, and any proceeds from selling those samples and the cost of those samples are recognized in profit or loss. Such properties are classified to the appropriate categories of property, plant and equipment when completed and ready for intended use and depreciated accordingly.

Except that depreciation of the rollers (spare parts) is calculated based on their level of wear, other depreciation is recognized using the straight-line method. Each significant component is depreciated separately. The estimated useful lives, residual values and depreciation method are reviewed at each balance sheet date, with the effect of any changes in estimate accounted for on a prospective basis.

On derecognition of an item of property, plant and equipment, the difference between the sales proceeds and the carrying amount of the asset is recognized in profit or loss.

i. Investment properties

Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties are measured initially at cost, including transaction costs. Subsequent to initial recognition, investment properties are measured at cost less accumulated depreciation. Depreciation is recognized using the straight-line method.

On derecognition of an investment property, the difference between the net disposal proceeds and the carrying amount of the asset is included in profit or loss.

For a transfer of classification from property, plant and equipment to investment properties, the deemed cost of an item of property for subsequent accounting is its carrying amount.

j. Impairment of property, plant and equipment, right - of use assets, investment properties and intangible assets

At the end of each reporting period, the Corporation reviews the carrying amounts of its property, plant and equipment, right - of use assets, investment properties and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss. When it is not possible to estimate the recoverable amount of an individual asset, the Corporation

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estimates the recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to the individual cash-generating units; otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified.

Recoverable amount is the higher of fair value less costs to sell and value in use. If the recoverable amount of an asset or cash-generating unit is estimated to be less than its carrying amount, the carrying amount of the asset or cash-generating unit is reduced to its recoverable amount with the resulting impairment loss recognized in profit or loss.

When an impairment loss subsequently is reversed, the carrying amount of the asset or cash-generating unit is increased to the revised estimate of its recoverable amount, but only to the extent of the carrying amount that would have been determined for the asset or cash-generating unit (net of amortization or depreciation) had no impairment loss been recognized in prior years. A reversal of an impairment loss is recognized in profit or loss.

k. Financial instruments

Financial assets and financial liabilities are recognized when the Corporation becomes a party to the contractual provisions of the instruments.

Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss.

1) Financial assets

All regular way purchases or sales of financial assets are recognized and derecognized on a trade date basis.

a) Measurement category

Financial assets are classified into the following categories: Financial assets at FVTPL, investments in equity instruments at FVTOCI, and financial assets at amortized cost.

i Financial assets at FVTPL

Financial assets classified as at FVTPL include investments in equity instruments which are not designated as at FVTOCI and debt instruments that do not meet the amortized cost criteria or the FVTOCI criteria.

Financial assets at FVTPL are subsequently measured at fair value, with any gains or losses arising on remeasurement recognized in profit or loss. The net gain or loss recognized in profit or loss does not incorporate any dividends or interest earned on such a financial asset.

ii Investments in equity instruments at FVTOCI

On initial recognition, the Corporation may make an irrevocable election to designate investments in equity instruments as at FVTOCI. Designation as at FVTOCI is not permitted if the equity investment is held for trading or if it is contingent consideration recognized by an acquirer in a business combination.

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Investments in equity instruments at FVTOCI are subsequently measured at fair value with gains and losses arising from changes in fair value recognized in other comprehensive income and accumulated in other equity. The cumulative gain or loss will not be reclassified to profit or loss on disposal of the equity investments; instead, it will be transferred to retained earnings.

Dividends on these investments in equity instruments are recognized in profit or loss when the Corporation’s right to receive the dividends is established, unless the dividends clearly represent a recovery of part of the cost of the investment.

iii Financial assets at amortized cost

Financial assets that meet the following conditions are subsequently measured at amortized cost:

i) The financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; and
ii) The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Subsequent to initial recognition, financial assets at amortized cost (including cash and cash equivalents, notes and accounts receivable at amortized cost, net (including related parties), other receivables (including loans to related parties), refundable deposits and other financial assets) are measured at amortized cost, which equals the gross carrying amount determined using the effective interest method less any impairment loss. Foreign currency exchange differences are recognized in profit or loss.

Interest income is calculated by applying the effective interest rate to the gross carrying amount of such a financial asset.

Cash equivalents include time deposits and commercial papers with original maturities within 3 months from the date of acquisition, high liquidity, readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value. These cash equivalents are held for the purpose of meeting short-term cash commitments.

In the Corporation’s statements of cash flows, bank overdraft, which is deemed to be repayable at any time and forms part of cash management, is classified as cash and cash equivalents. Bank overdraft is recorded under current liabilities in the balance sheets.

b) Impairment of financial assets and contract assets

The Corporation recognizes a loss allowance for expected credit losses on financial assets at amortized cost (including trade receivables) as well as contract assets.

The Corporation always recognizes lifetime expected credit losses (ECLs) for accounts receivable, and contract assets. For all other financial instruments, the Corporation recognizes lifetime ECLs when there has been a significant increase in credit risk since initial recognition. If, on the other hand, the credit risk on a financial instrument has not increased significantly since initial recognition, the Corporation measures the loss allowance for that financial instrument at an amount equal to 12-month ECLs.

Expected credit losses reflect the weighted average of credit losses with the respective risks of default occurring as the weights. 12-month ECLs represent the portion of lifetime ECLs that is expected to result from default events on a financial instrument that are possible within 12 months after the reporting date. In contrast, lifetime ECLs represent the expected credit losses

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that will result from all possible default events over the expected life of a financial instrument.

The Corporation recognizes an impairment gain or loss in profit or loss for all financial instruments with a corresponding adjustment to their carrying amount through a loss allowance account.

c) Derecognition of financial assets

The Corporation derecognizes a financial asset only when the contractual rights to the cash flows from the asset expire or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party.

On derecognition of a financial asset at amortized cost in its entirety, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss. On derecognition of an investment in an equity instrument at FVTOCI, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss, and the cumulative gain or loss which had been recognized in other comprehensive income is transferred directly to retained earnings, without recycling through profit or loss.

2) Equity instruments

Debt and equity instruments issued by the Corporation are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.

Equity instruments issued by the Corporation are recognized at the proceeds received, net of direct issue costs.

3) Financial liabilities

a) Subsequent measurement

Except for the following situation, financial liabilities are measured at amortized cost using the effective interest method:

Financial guarantee contracts

Financial guarantee contracts issued by the Corporation, if not designated as at FVTPL, are subsequently measured at the higher of the amount of the loss allowance reflecting expected credit losses and amortized cost.

b) Derecognition of financial liabilities

The Corporation derecognizes financial liabilities only when the obligations are discharged, canceled or expired. The difference between the carrying amount of the financial liability derecognized and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognized in profit or loss.

4) Derivative financial instruments

The Corporation enters the derivative financial instruments and foreign exchange forward contracts, to manage its exposure to foreign exchange rate risks.

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Derivatives are initially recognized at fair value at the date the derivative contracts are entered into and are subsequently remeasured to their fair value at each balance sheet date. The resulting gain or loss is recognized in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship. When the fair value of derivative financial instruments is positive, the derivative is recognized as a financial asset; when the fair value of derivative financial instruments is negative, the derivative is recognized as a financial liability.

5) Hedge accounting

The Corporation designates certain hedging instruments, which include derivatives and non-derivatives in respect of foreign currency risk, as either fair value hedges, cash flow hedges, or hedges of net investments in foreign operations. Hedges of foreign exchange risk on firm commitments are accounted for as cash flow hedges.

a) Fair value hedges

Gains or losses on derivatives that are designated and qualified as fair value hedges are recognized in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The change in the fair value of the hedging instrument and the change in the hedged item attributable to the hedged risk are recognized in profit or loss in the line item relating to the hedged item.

b) Cash flow hedges

The effective portion of gains or losses on derivatives that are designated and qualified as cash flow hedges is recognized in other comprehensive income and accumulated under the heading of cash flow hedging reserve. The gain or loss relating to the ineffective portion is recognized in profit or loss.

The associated gains or losses that were recognized in other comprehensive income are reclassified from equity to profit or loss as a reclassification adjustment in the line item relating to the hedged item in the same period when the hedged item affects profit or loss. If a hedge of a forecast transaction subsequently results in the recognition of a non-financial asset or a non-financial liability, the associated gains and losses that were recognized in other comprehensive income are removed from equity and are included in the initial cost of the non-financial asset or non-financial liability.

The Corporation discontinues hedge accounting only when the hedging relationship ceases to meet the qualifying criteria; for instance, when the hedging instrument expires or is sold, terminated or exercised. The cumulative gain or loss on the hedging instrument that has been previously recognized in other comprehensive income from the period when the hedge was effective remains separately in equity until the forecast transaction occurs. When a forecast transaction is no longer expected to occur, the gain or loss accumulated in equity is recognized immediately in profit or loss.

c) Hedges of net investments in foreign operations

Hedges of net investments in foreign operations are accounted for similar to cash flow hedges. Any gain or loss on the hedging instrument relating to the effective portion is recognized in gains and losses on hedging instruments. The gain or loss relating to the ineffective portion is recognized immediately in profit or loss.

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The amount recognized in gains and losses on hedging instruments relating to the effective portion are reclassified to profit or loss on the disposal or partial disposal of the foreign operation.

l. Provisions

Provisions are measured at the best estimate of the discounted cash flows of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

m. Treasury shares

Share of the Corporation held by the subsidiaries are reclassified to treasury shares from investments accounted for using equity method at the acquisition cost.

n. Revenue recognition

The Corporation identifies the contract with the customers, allocates the transaction price to the performance obligations, and recognizes revenue when performance obligations are satisfied.

1) Revenue from sale of goods

Revenue from the sale of goods is recognized when the committed goods are delivered from the Corporation to customers to satisfy performance obligations, as follows: domestic sales - when products are moved out of the Corporation premises for delivery to customers; exports - when products are loaded onto vessels. Transaction price received is recognized as a contract liability until performance obligations are satisfied.

Revenue is measured at the fair value, which is the discounted present value of the price (net of commercial discounts and quantity discounts) agreed to by the Corporation with customers. Estimated discount or other allowances of the consideration received are recognized as refund liabilities. For a contract where the period between the date the Corporation transfers a promised good or service to a customer and the date the customer pays for that good or service is one year or less, the Corporation does not adjust the promised amount of consideration for any effect of a significant financing component.

2) Construction contract revenue

As property is being constructed and construction is in progress, the Corporation recognizes revenue from construction contract over time. The Corporation measures the progress on the basis of costs incurred relative to the total expected costs as there is a direct relationship between the costs incurred and the progress of satisfying the performance obligation. A contract asset is recognized during the construction and is reclassified to accounts receivable at the point at which it is invoiced to the customer. If the milestone payments exceed the revenue recognized to date, then the Corporation recognizes a contract liability for the difference.

o. Leases

At the inception of a contract, the Corporation assesses whether the contract is, or contains, a lease.

1) The Corporation as lessor

Leases are classified as finance leases whenever the terms of a lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.

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Lease payments (less any lease incentives payable) from operating leases are recognized as income on a straight-line basis over the terms of the relevant leases. Initial direct costs incurred in obtaining operating leases are added to the carrying amounts of the underlying assets and recognized as expenses on a straight-line basis over the lease terms.

Variable lease payments that do not depend on an index or a rate are recognized as income in the periods in which they are incurred.

When a lease includes both land and building elements, the Corporation assesses the classification of each element separately as a finance or an operating lease based on the assessment as to whether substantially all the risks and rewards incidental to ownership of each element have been transferred to the lessee. The lease payments are allocated between the land and the building elements in proportion to the relative fair values of the leasehold interests in the land element and building element of the lease at the inception of a contract. If the allocation of the lease payments can be made reliably, each element is accounted for separately in accordance with its lease classification. When the lease payments cannot be allocated reliably between the land and building elements, the entire lease is generally classified as a finance lease unless it is clear that both elements are operating leases; in which case, the entire lease is classified as an operating lease.

2) The Corporation as lessee

The Corporation recognizes right-of-use assets and lease liabilities for all leases at the commencement date of a lease, except for short-term leases and low-value asset leases accounted for applying a recognition exemption where lease payments are recognized as expenses on a straight-line basis over the lease terms.

Right-of-use assets, which comprise the initial measurement of lease liabilities, are initially measured at cost and subsequently measured at cost less accumulated depreciation and impairment losses and adjusted for any remeasurement of the lease liabilities. Right-of-use assets are presented on a separate line in the standalone balance sheets.

Right-of-use assets are depreciated using the straight-line method from the commencement dates to the earlier of the end of the useful lives of the right-of-use assets or the end of the lease terms.

Lease liabilities are initially measured at the present value of the lease payments. The lease payments are discounted using the interest rate implicit in a lease, if that rate can be readily determined. If that rate cannot be readily determined, the Corporation uses the lessee’s incremental borrowing rate.

Subsequently, lease liabilities are measured at amortized cost using the effective interest method, with interest expense recognized over the lease terms. When there is a change in future lease payments resulting from a change in a lease term, an index or a rate used to determine those payments, the Corporation remeasures the lease liabilities with a corresponding adjustment to the right-of-use-assets. However, if the carrying amount of the right-of-use assets is reduced to zero, any remaining amount of the remeasurement is recognized in profit or loss. For a lease modification that is not accounted for as a separate lease, the Corporation accounts for the remeasurement of the lease liability by decreasing the carrying amount of the right-of-use asset of lease modifications that decreased the scope of the lease, and recognizing in profit or loss any gain or loss on the partial or full termination of the lease. Lease liabilities are presented on a separate line in the standalone balance sheets.

The Corporation negotiates with the lessor for rent concessions as a direct consequence of the Covid-19 to change the lease payments originally due by June 30, 2022, that results in the revised consideration for the lease less than the consideration for the lease immediately preceding the change. There is no substantive change to other terms and conditions. The Corporation elects to apply the practical expedient to rent concessions and, therefore, does not assess whether the rent

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concessions are lease modifications. Instead, the Corporation recognizes the reduction in lease payment in profit or loss as a deduction of expenses of variable lease payments, in the period in which the events or conditions that trigger the concession occur, and makes a corresponding adjustment to the lease liability.

Variable lease payments that do not depend on an index or a rate are recognized as expenses in the periods in which they are incurred.

p. Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization.

Other than those stated above, all borrowing costs are recognized in profit or loss in the year in which they are incurred.

q. Employee benefits
1) Short-term employee benefits

Liabilities recognized in respect of short-term employee benefits are measured at the undiscounted amount of the benefits expected to be paid in exchange for the related service.

2) Retirement benefits

Payments to defined contribution retirement benefit plans are recognized as an expense when employees have rendered service entitling them to the contributions.

Defined benefit costs (including service cost, net interest and remeasurement) under the defined benefit retirement benefit plans are determined using the projected unit credit method. Service cost (including current service cost, past service cost, as well as gains and losses on settlements) and net interest on the net defined benefit liability are recognized as employee benefits expense in the period they occur. Remeasurement, comprising actuarial gains and losses, the effect of the changes to the asset ceiling, and the return on plan assets (excluding interest), is recognized in other comprehensive income in the period in which they occur. Remeasurement recognized in other comprehensive income is reflected immediately in retained earnings and will not be reclassified to profit or loss.

Net defined benefit liability represents the actual deficit in the Corporation’s defined benefit plan. Any surplus resulting from this calculation is limited to the present value of any refunds from the plans or reductions in future contributions to the plans.

3) Other long-term employee benefits

Other long-term employee benefits are accounted for in the same way as the accounting required for defined benefit plan except that remeasurement is recognized in profit or loss.

4) Termination benefits

A liability for a termination benefit is recognized at the earlier of when the Corporation can no longer withdraw the offer of the termination benefit and when the Corporation recognizes any related restructuring costs.

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r. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

1) Current tax

Current tax is the amount of tax at statutory rate calculated on the taxable profit at the balance sheet date. According to the Income Tax Law, an additional tax on unappropriated earnings is provided for as income tax in the year the shareholders approve to retain the earnings.

Adjustments of prior years’ tax liabilities are added to or deducted from the current year’s tax provision.

2) Deferred tax

Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the standalone financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognized for all taxable temporary differences. Deferred tax assets are generally recognized for all deductible temporary differences, loss carryforwards, and research and development expenditures to the extent that it is probable that taxable profits will be available against which those deductible differences can be utilized. Such deferred tax assets and liabilities are not recognized if the temporary difference arises from the initial recognition (other than in a business combination) of other assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit.

Deferred tax liabilities are recognized for taxable temporary differences associated with investments in subsidiaries and associates, except where the Corporation is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such investments and interests are only recognized to the extent that it is probable that there will be sufficient taxable profits against which to utilize the benefits of the temporary differences and they are expected to reverse in the foreseeable future.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. A previously unrecognized deferred tax asset is also reviewed at each reporting period and recognized to the extent that it has become probable that future taxable profit will allow the deferred tax asset to be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realized, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Corporation expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

3) Current and deferred tax for the year

Current and deferred tax are recognized in profit or loss, except when they relate to items that are recognized in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognized in other comprehensive income or directly in equity respectively.

4) According to Income Tax Law and related regulations, the Corporation files a consolidated tax return with its 100% owned subsidiary. The appropriation of the income tax relating to the subsidiary is recognized as other receivables or other payables.
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5. CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Corporation’s accounting policies, management is required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. The effect of a change in an accounting estimate shall be recognized prospectively by including it in profit or loss in the period of the change, if the change affects that period only, or in the period of the change and future periods, if the change affects both.

Key sources of estimation uncertainty

a. Write-down of inventory

Inventories are stated at the lower of cost or net realizable value, and the Corporation uses judgment and estimate to determine the net realizable value of inventory at the end of the reporting period. Since the net realizable value of inventory is mainly determined on the basis of future selling price, it might be adjusted significantly.

b. Fair value of emerging market shares and unlisted equity securities

As described in Note 28, the Corporation applied valuation techniques commonly used by market practitioners to evaluate fair value of the financial instruments that do not have listed market price in an active market. The measurement for the fair value of emerging market shares and equity securities includes assumptions not based on observable market prices or interest rates; therefore, unlisted fair value may change significantly.

6. CASH AND CASH EQUIVALENTS

Cash on hand Checking accounts and demand deposits Cash equivalents (investments with original maturities of less than three months) Commercial papers		December 31	December 31
		2022 $ 18,412 3,542,843 - $ 3,561,255	2021 $ 18,485 1,789,369 1,947,715 $ 3,755,569

7. FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS

Noncurrent Foreign unlisted preference shares		December 31	December 31
		2022 $ 712,241	2021 $ 731,198

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8. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME - EQUITY INSTRUMENTS

Noncurrent Domestic investments Listed shares Unlisted shares Foreign investments Listed shares Unlisted shares		December 31	December 31
		2022 $ 9,302,598 718,344 10,020,942 2,023,916 27,445,211 29,469,127 $ 39,490,069	2021 $ 9,675,363 905,871 10,581,234 2,218,941 26,451,103 28,670,044 $ 39,251,278

These investments in equity instruments are not held for trading; instead, they are held for medium to long-term strategic purposes. Accordingly, the management elected to designate these investments in equity instruments as at FVTOCI as they believe that recognizing short-term fluctuations in these investments’ fair value in profit or loss would not be consistent with the Corporation’s strategy of holding these investments for long-term purposes.

9. FINANCIAL INSTRUMENTS FOR HEDGING

Financialassetsfor hedging-current Foreign exchange forward contracts Hedging foreign-currency deposits Financialassetsfor hedging- noncurrent Foreign exchange forward contracts Financial liabilitiesfor hedging-current Foreign exchange forward contracts Bank loans (Note 17) Financial liabilitiesfor hedging- noncurrent Foreign exchange forward contracts Bank loans (Note 17)		December 31	December 31
		2022 $ 61,685 983,296 $ 1,044,981 $ 59,177 $ 1,242 - $ 1,242 $ 920 1,045,219 $ 1,046,139	2021 $ 1 382,327 $ 382,328 $ 210 $ 14,398 1,081,649 $ 1,096,047 $ 17,167 - $ 17,167

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For the purpose of managing cash flow risk arising from exchange rate fluctuations due to purchasing imported equipment, the Corporation purchased foreign-currency deposits and entered into foreign exchange forward contracts.

Refer to Note 28 for information relating to financial instruments for hedging.

10. NOTES AND ACCOUNTS RECEIVABLE, NET (INCLUDING RELATED PARTIES)

Notes receivable Operating Non-operating Less: Allowance for impairment loss Accounts receivable Less: Allowance for impairment loss		December 31	December 31
		2022 $ 627,670 - 627,670 - $ 627,670 $ 3,580,560 - $ 3,580,560	2021 $ 998,439 - 998,439 - $ 998,439 $ 5,912,077 - $ 5,912,077

The Corporation makes prudent assessment of their customers. The counterparties are creditworthy companies; as a result, the significant credit risk is unexpected. The Corporation did transactions with a large number of unrelated customers and no concentration of credit risk was observed. The Corporation continues to manage the financial condition and entire credit risk of their customers, and obtain sufficient collateral if needed to mitigate the risk of financial loss from late payment.

The expected credit losses on notes and accounts receivable are estimated by reference to past default experience of the debtor and an analysis of the debtor’s current financial position, adjusted for general economic conditions of the industry in which the debtors operate and an assessment of both the current as well as the forecast GDP and direction of economic conditions at the reporting date.

The Corporation continues to monitor the collection of receivables to ensure that proper actions are made to collect past due receivables. Additionally, the Corporation reviews the recoverable amount of receivables one by one on the balance sheet date to ensure that proper allowances are recognized for unrecoverable receivables.

The following table details the loss allowance of notes and accounts receivable based on the impaired aging analysis.

December 31, 2022

Gross carrying amount Loss allowance (Lifetime ECL) Amortized cost	Not Past Due $ 4,208,223 - $ 4,208,223	1 to 30 Days $ 7 - $ 7	31 to 60 Days 61 to 365 Days $ - $ - - - $ - $ -	Total $ 4,208,230 -
				$ 4,208,230

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December 31, 2021

Gross carrying amount Loss allowance (Lifetime ECL) Amortized cost	Not Past Due $ 6,854,200 - $ 6,854,200	1 to 30 Days $ 27,304 - $ 27,304	31 to 60 Days 61 to 365 Days $ 6,236 $ 22,776 - - $ 6,236 $ 22,776	Total $ 6,910,516 -
				$ 6,910,516

The Corporation entered into accounts receivable factoring agreements (without recourse) with Mega Bank, Bank of Taiwan, Taishin Bank, Chinatrust Commercial Bank (CTBC Bank) and Mizuho Bank. Under the agreements, the Corporation sells accounts receivable to the banks upon the delivery of products to customers and is required to complete related formalities at the next banking day.

The related information for the Corporation’s sale of accounts receivable was as follows:

Counterparty For the Year Ended December 31, 2022 Mega Bank Bank of Taiwan Bank of Taiwan Taishin Bank CTBC Bank Mizuho Bank For the Year Ended December 31, 2021 Mega Bank Bank of Taiwan Bank of Taiwan Taishin Bank CTBC Bank Mizuho Bank	Advances Received at Year - Beginning $ 2,045,351 575,436 368,790 3,790,809 1,632,110 7,431 $ 8,419,927 $ 2,575,615 879,158 196,829 3,773,644 758,350 20,598 $ 8,204,194	Receivables Sold $ 4,456,176 1,284,295 4,333,017 8,866,702 3,483,166 1,032,436 $ 23,455,792 $ 6,730,340 2,165,765 5,012,584 10,088,020 3,480,446 1,042,897 $ 28,520,052	Amounts Collected by Bank $ 5,333,507 1,383,065 4,312,289 10,844,464 4,351,025 1,036,823 $ 27,261,173 $ 7,260,604 2,469,487 4,840,623 10,070,855 2,606,686 1,056,064 $ 28,304,319	Advances Received at Year - End Annual Interest Rate on Advances Received (%) Credit Line $ 1,168,020 0.98-2.09 NT$9 billion 476,666 0.98-2.09 NT$2.1 billion 389,518 0.62-4.10 USD130,000 thousand 1,813,047 0.80-5.73 USD250,000 thousand 764,251 0.82-3.06 USD60,000 thousand 3,044 0.94-4.50 USD10,000 thousand $ 4,614,546 $ 2,045,351 0.98-1.74 NT$9 billion 575,436 0.98-1.64 NT$3 billion 368,790 0.62-1.58 USD130,000 thousand 3,790,809 0.80-0.94 USD250,000 thousand 1,632,110 0.82-0.94 USD40,000 thousand 7,431 0.95-1.02 USD10,000 thousand $ 8,419,927

11. INVENTORIES

Finished goods Work in progress Raw materials Supplies Inventory in transit Others		December 31	December 31
		2022 $ 15,541,497 23,170,817 12,932,434 4,984,118 10,444,128 37,261 $ 67,110,255	2021 $ 15,455,889 23,208,571 15,333,339 3,714,118 11,152,281 69,473 $ 68,933,671

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The cost of inventories recognized as operating costs for the years ended December 31, 2022 and 2021 were NT$228,460,142 thousand and NT$202,666,679 thousand, respectively, including loss on inventories of NT$1,827,517 thousand and NT$1,258,710 thousand, respectively.

12. INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD

Investments in subsidiaries Investments in associates		December 31	December 31
		2022 $ 187,240,753 2,477,398 $ 189,718,151	2021 $ 198,598,997 2,621,223 $ 201,220,220

a. Investments in subsidiaries

Listed companies Chung Hung Steel Corporation (CHS) China Steel Chemical Corporation (CSCC) China Steel Structure Co., Ltd. (CSSC) CHC Resources Corporation (CHC) China Ecotek Corporation (CEC) Less: Shares held by subsidiaries accounted for as treasury shares Unlisted companies Dragon Steel Corporation (DSC) CSC Steel Australia Holdings Pty Ltd. (CSC SAH) China Steel Express Corporation (CSE) C. S. Aluminium Corporation (CSAC) Gains Investment Corporation (GIC) China Steel and Nippon Steel Vietnam Joint Stock Company (CSVC) China Prosperity Development Corporation (CPDC) China Steel Asia Pacific Holdings Pte. Ltd. (CSAP) China Steel Power Holding Corporation (CPHC) China Steel Global Trading Corporation (CSGT) China Steel Corporation India Pvt. Ltd. (CSCI) Kaohsiung Rapid Transit Corporation (KRTC) CSC Solar Corporation (CSCSOLAR) China Steel Resources Corporation (CSRC) Sing Da Marine Structure Corporation (SDMS) Infochamp Systems Corporation (Info Champ) China Steel Machinery Corporation (CSMC)		December 31	December 31	December 31
		2022 Amount % of Owner - ship $ 6,696,923 41 2,350,858 29 1,351,785 33 1,091,665 20 1,048,403 45 12,539,634 2,077,752 10,461,882 100,847,872 100 20,732,125 100 12,980,932 100 9,010,764 100 8,069,762 100 7,517,232 56 4,919,191 100 4,900,289 100 3,864,987 51 3,253,223 100 1,384,769 100 1,181,775 43 1,052,452 55 1,001,575 100 578,236 47 557,293 100 510,795 74		2021
				Amount % of Owner - ship $ 8,394,707 41 2,097,586 29 1,287,731 33 1,050,387 20 1,042,159 45 13,872,570 2,077,752 11,794,818 112,686,699 100 20,773,791 100 12,162,975 100 8,165,468 100 8,876,497 100 7,317,584 56 5,432,575 100 4,312,754 100 3,463,363 51 2,709,723 100 1,371,621 100 1,080,333 43 1,049,979 55 999,510 100 224,827 100 582,315 100 832,458 74

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HIMAG Magnetic Corporation (HIMAG) China Steel Security Corporation (CSS) China Steel Management Consulting Corporation (CMCC) China Steel Power Corporation (ZN) United Steel International Co., Ltd. (USICL) Less: Shares held by subsidiaries accounted for as treasury shares		December 31	December 31	December 31
		2022 Amount % of Owner - ship $ 490,574 69 476,621 100 20,073 100 - - - - 183,350,540 6,571,669 176,778,871 $ 187,240,753		2021
				Amount % of Owner - ship $ 455,291 69 506,672 100 18,321 100 - - 353,092 80 193,375,848 6,571,669 186,804,179 $ 198,598,997

In March, October and December 2021, the Corporation subscribed for 34,680 thousand shares, 27,285 thousand shares and 213,078 thousand shares of its subsidiary CPHC for cash consideration of NT$346,800 thousand, NT$272,850 thousand and NT$2,130,780 thousand, respectively; the Corporation’s percentage of shareholding remained unchanged.

In December 2021, the subsidiary SDMS reduced its capital by NT$3,194,050 thousand to offset a deficit; the Corporation’s percentage of shareholding remained unchanged. The Corporation subscribed for the shares of its subsidiary SDMS for a cash consideration of NT$1,250,000 thousand; the paid amount was recorded as prepayments for investments and was transferred to investments accounted for using the equity method in January 2022; the Corporation’s percentage of shareholding decreased from 100% to 47%.

In August 2021 and November 2022, the subsidiary CSAP reduced its capital by NT$139,350 thousand and NT$125,720 thousand, respectively; the Corporation’s percentage of shareholding remained unchanged.

Due to the resolution of the board of directors to simplify the investment structure, the subsidiary USICL went through the liquidation and dissolution procedures. Taking October 18, 2022 as the liquidation base date, the liquidation funds returned NT$408,554 thousand in cash.

Refer to Note 30 for information relating to investments accounted for using equity method as collateral.

Fair values (Level 1) of the listed companies accounted for using equity method with available published price quotation are summarized as follows:

CHS CSCC CSSC CEC CHC		December 31	December 31
		2022 $ 15,586,507 $ 7,257,048 $ 3,922,783 $ 2,373,596 $ 2,267,321	2021 $ 23,977,000 $ 8,288,856 $ 3,936,080 $ 2,212,956 $ 2,235,283

The above market prices are calculated on the basis of the closing price at the end of the reporting period.

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b. Investments in associates

Taiwan Rolling Stock Co., Ltd. (TRSC) Kaohsiung Arena Development Corporation (KADC) Hsin Hsin Cement Enterprise Corporation (HHCEC) Eminent II Venture Capital Corporation (EVC`Ⅱ`) Dyna Rechi Co., Ltd. (DRC) Honley Auto. Parts Co., Ltd. (HONLEY) Overseas Investment & Development Corporation (OIDC) TaiAn Technologies Corporation (TAIAN)		December	December	31
		2022 Amount % of Owner - ship $ 790,811 48 558,955 18 377,680 31 281,306 46 254,205 23 125,588 35 65,254 6 23,599 17 $ 2,477,398		2021
				Amount % of Owner - ship $ 793,379 48 542,194 18 370,893 31 231,473 46 246,581 23 352,122 35 61,352 6 23,229 17 $ 2,621,223

The Corporation’s total equity in KADC is 29%, including 18% directly owned and 11% indirectly owned through United Steel Engineering & Construction Corporation and CPDC. The Corporation’s total equity in TAIAN is 22%, including 17% directly owned and 5% indirectly owned through CSCC. The Corporation’s total equity in OIDC is 22%, including 6% directly owned and 16% indirectly owned through the subsidiaries CSMC and Union Steel Development Corporation.

In November 2022, the associate HONLEY reduced its capital by NT$233,361 thousand; the Corporation’s percentage of shareholding remained unchanged.

In September 2022, the associate DRC reduced its capital by NT$655,288 thousand to offset a deficit; the Corporation’s percentage of shareholding remained unchanged.

The above associates are not individually material. The related summarized information was as follows:

The Corporation’s share of Net gain (loss) for the year Other comprehensive income (loss) Total comprehensive income (loss)	For the Year Ended	For the Year Ended	December 31
		2022 $ 106,044 16,394 $ 122,438	2021 $ (218,844) 21,680 $ (197,164)

Refer to Table 9 “Information on Investees” for the above investees’ main business nature, principal places of business and countries of incorporation.

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13. OTHER FINANCIAL ASSETS

Current Pledged time deposits (Note 30) Time deposits with original maturities more than 3 months Deposits for projects		December 31	December 31
		2022 $ 5,850,000 100,000 339,568 $ 6,289,568	2021 $ 5,850,000 100,000 731,289 $ 6,681,289

14. PROPERTY, PLANT AND EQUIPMENT

For the Year Ended December 31, 2022

Cost Balance at January 1, 2022 Additions Disposals Reclassification Balance at December 31, 2022 Accumulated depreciation and impairment Balance at January 1, 2022 Depreciation Disposals Reclassification Balance at December 31, 2022 Carrying amount at December 31, 2022	Land $ 51,408,190 - - - $ 51,408,190 $ - - - - $ - $ 51,408,190	Land Improvements $ 4,771,647 771 - - $ 4,772,418 $ 4,588,951 15,816 - - $ 4,604,767 $ 167,651	Buildings $ 68,637,064 520,213 (50,984 ) (2,671) $ 69,103,622 $ 44,258,558 1,985,748 (50,042 ) (1,033) $ 46,193,231 $ 22,910,391	Machinery and Equipment $ 381,526,367 9,319,257 (2,748,813 ) 500 $ 388,097,311 $ 334,552,518 11,574,770 (2,731,101 ) 499 $ 343,396,686 $ 44,700,625	Transportation Equipment $ 2,361,306 139,111 (43,234 ) - $ 2,457,183 $ 1,974,658 104,658 (43,129 ) - $ 2,036,187 $ 420,996	Other Equipment $ 7,223,530 595,951 (222,916 ) (500) $ 7,596,065 $ 6,203,510 445,314 (222,332 ) (499) $ 6,425,993 $ 1,170,072	Spare Parts $ 6,741,476 639,208 (726,892 ) - $ 6,653,792 $ 2,804,628 737,119 (726,892 ) - $ 2,814,855 $ 3,838,937	Construction in Progress and Equipment to be Inspected $ 18,832,688 1,470,383 - - $ 20,303,071 $ - - - - $ - $ 20,303,071	Total $ 541,502,268 12,684,894 (3,792,839 ) (2,671) $ 550,391,652 $ 394,382,823 14,863,425 (3,773,496 ) (1,033) $ 405,471,719 $ 144,919,933

For the Year Ended December 31, 2021

Cost Balance at January 1, 2021 Additions Disposals Reclassification Acquisitions through business combinations Balance at December 31, 2021 Accumulated depreciation and impairment Balance at January 1, 2021 Depreciation Disposals Impairment Reclassification Balance at December 31, 2021 Carrying amount at December 31, 2021	Land $ 51,334,118 - - 74,072 - $ 51,408,190 $ - - - - - $ - $ 51,408,190	Land Improvements $ 4,764,813 15,506 (8,672 ) - - $ 4,771,647 $ 4,580,057 17,566 (8,672 ) - - $ 4,588,951 $ 182,696	Buildings $ 67,982,697 588,073 (77,981 ) (8,860 ) 153,135 $ 68,637,064 $ 42,244,167 2,093,358 (72,657 ) - (6,310) $ 44,258,558 $ 24,378,506	Machinery and Equipment $ 372,196,808 13,854,272 (4,637,506 ) 112,793 - $ 381,526,367 $ 326,959,576 11,400,286 (4,512,381 ) 663,599 41,438 $ 334,552,518 $ 46,973,849	Transportation Equipment $ 2,295,942 115,839 (50,475 ) - - $ 2,361,306 $ 1,918,863 106,132 (50,337 ) - - $ 1,974,658 $ 386,648	Other Equipment $ 7,025,161 555,263 (226,336 ) (130,558 ) - $ 7,223,530 $ 6,056,990 417,130 (225,628 ) 305 (45,287) $ 6,203,510 $ 1,020,020	Spare Parts $ 6,950,782 536,909 (746,215 ) - - $ 6,741,476 $ 2,811,926 738,917 (746,215 ) - - $ 2,804,628 $ 3,936,848	Construction in Progress and Equipment to be Inspected $ 20,181,701 (1,349,013 ) - - - $ 18,832,688 $ - - - - - $ - $ 18,832,688	Total $ 532,732,022 14,316,849 (5,747,185 ) 47,447 153,135 $ 541,502,268 $ 384,571,579 14,773,389 (5,615,890 ) 663,904 (10,159) $ 394,382,823 $ 147,119,445

The Corporation carried out a review of the recoverable amount of the related equipment and determined that there was no recoverable amount and thus recognized an impairment loss of NT$663,904 thousand, which was recognized in operating costs for the year ended December 31, 2021.

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The following items of property, plant and equipment are depreciated on a straight-line basis over the following useful lives:

Land improvements 20-40 years Buildings Main structure 5-60 years Others 3-40 years Machinery and equipment Power equipment 3-25 years Process equipment 8-18 years Lifting equipment 5-12 years Others 3-17 years Transportation equipment 5-20 years Other equipment 3-10 years

15. LEASE ARRANGEMENTS

a. Right-of-use assets

Carrying amounts Land Land improvements Buildings Machinery Transportation equipment Others Additions to right-of-use assets Depreciation charge for right-of-use assets Land Land improvements Buildings Machinery Transportation equipment Others		December 31	December 31	December 31
	2022 2021 $ 722,208 $ 749,613 242,366 290,839 195,657 99,755 - - 4,526 5,244 8,863 13,294 $ 1,173,620 $ 1,158,745 For the Year Ended December 31
			2022 $ 372,183 $ 204,930 48,473 87,864 - 4,685 4,431 $ 350,383	2021 $ 213,637 $ 194,838 56,372 57,834 4,885 7,827 369 $ 322,125

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b. Lease liabilities

Carrying amounts Current Non-current		December 31	December 31
		2022 $ 353,725 $ 820,848	2021 $ 269,303 $ 896,263

Range of discount rate (%) for lease liabilities was as follows:

Land Land improvements Buildings Machinery Transportation equipment Others	December 31
	2022 2021 0.59-1.14 0.59-1.47 1.31 1.31 0.59-0.95 0.59-0.92 - - 0.59-0.95 0.59-0.92 0.59 0.59

c. Material lease activities and terms

The Corporation leases land with a total of 261,207.62 square meter from Taiwan International Ports Corporation, Ltd. The rent is calculated by an annual rate of 5% based on the aforementioned announced land value. The lease term is from January 2008 to December 2027.

The Corporation leases No. 101 berth in Kaohsiung Harbor from Taiwan International Ports Corporation, Ltd. for the use of cargo handling of raw materials, including coal and iron ore, as well as GBFS with a lease term from December 2016 to December 2027.

The Corporation enters into lease arrangements with the subsidiary CSE to cope with shipment of foreign raw materials. The payment terms are calculated based on actual shipping amount and thus classified as variable lease payment.

d. Other lease information

Expenses relating to short-term leases and low-value asset leases Expenses relating to variable leases payments Covid-19-related rent concessions Expenses relating to variable leases payments not included in the measurement of lease liabilities Total cash outflow for leases	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
		2022 $ 83,825 $ 2,460,034 (1,357) $ 2,458,677 $ (2,909,227)	2021 $ 88,557 $ 2,529,431 (1,357) $ 2,528,074 $ (2,945,299)

For land and buildings which qualify as short-term leases and some office and transportation equipment which qualify as low-value asset leases, the Corporation has elected to apply the recognition exemption and thus did not recognize right-of-use assets and lease liabilities for these leases.

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16. INVESTMENT PROPERTIES

For the Year Ended December 31, 2022

Cost Balance at January 1, 2022 Reclassification Balance at December 31, 2022 Accumulated depreciation Balance at January 1, 2022 Depreciation Reclassification Balance at December 31, 2022 Carrying amount at December 31, 2022 For the Year Ended December 31, 2021 Cost Balance at January 1, 2021 Reclassification Balance at December 31, 2021 Accumulated depreciation Balance at January 1, 2021 Depreciation Reclassification Balance at December 31, 2021 Carrying amount at December 31, 2021	Land $ 6,392,083 - $ 6,392,083 $ - - - $ - $ 6,392,083 Land $ 6,466,155 (74,072) $ 6,392,083 $ - - - $ - $ 6,392,083	Buildings $ 1,286,585 2,671 $ 1,289,256 $ 341,789 22,505 1,033 $ 365,327 $ 923,929 Buildings $ 1,277,725 8,860 $ 1,286,585 $ 312,627 22,852 6,310 $ 341,789 $ 944,796	Total $ 7,678,668 2,671 $ 7,681,339 $ 341,789 22,505 1,033 $ 365,327 $ 7,316,012 Total $ 7,743,880 (65,212) $ 7,678,668 $ 312,627 22,852 6,310 $ 341,789 $ 7,336,879

The following items of investment properties are depreciated on a straight-line basis over the following useful lives:

Buildings

8-60 years

The determination of fair value was performed by independent qualified professional valuers or the management of the Corporation, which used the valuation model that market participants would use in determining the fair value, and the fair value was measured using Level 3 inputs. The valuation was measured under the comparative approach, income approach, cost approach and land developing analysis approach similar to the transaction price of the real estate market. The significant unobservable inputs used include discount rates and depreciation rates. The fair value as appraised was as follows:

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Fair value All of the Corporation’s investment properties are held under freehold		December 31	December 31
	2022 $ 24,450,280 interests.		2021 $ 24,349,509

17. BORROWINGS

a. Short-term borrowings and bank overdraft

Unsecured loans Bank overdraft (Note 30) Export bill loans Letters of credit Loans from related parties (Note 29) Less: Financial liabilities for hedging - current Range of interest rates p.a. (%) b. Short-term bills payable Commercial paper Less: Unamortized discounts Range of interest rates p.a. (%) The above commercial paper was unsecured. c. Long-term borrowings Unsecured loans Less: Current portion Financial liabilities for hedging - current Financial liabilities for hedging - noncurrent Range of interest rates p.a. (%)		December 31	December 31
		2022 2021 $ 19,100,000 $ 6,589,682 3,015,707 4,332,132 1,459,030 1,034,071 953 75,135 1,790,000 1,650,000 25,365,690 13,681,020 - 789,682 $ 25,365,690 $ 12,891,338 0-5.29 0-0.67 December 31 2022 2021 $ 13,500,000 $ - 23,039 - $ 13,476,961 $ - 1.48-1.58 - December 31

		2022 $ 12,545,219 - - 1,045,219 $ 11,500,000 0.27-1.57	2021 $ 1,791,967 1,500,000 291,967 - $ - 0.32-0.57

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The above unsecured loans (short-term and long-term borrowings) included those obtained by the Corporation in JPY to hedge the exchange rate fluctuations on equity investments, which were reclassified to financial liabilities for hedging (including current and noncurrent).

d. Long-term bills payable

Commercial paper Less: Unamortized discounts Range of interest rates p.a. (%)		December 31	December 31
		2022 $ 11,500,000 4,285 $ 11,495,715 1.27-1.37	2021 $ 5,900,000 2,066 $ 5,897,934 0.40-0.57

The Corporation entered into unsecure commercial paper contracts with Taishin Bank, CTBC Bank and Cathay United Bank in January 2020, April 2020 and December 2022, respectively. The duration of the contracts is four years. In the fourth year, the contracts can only be issued after negotiating between the counterparties. During the cycle of issuance, the Corporation only has to pay service fees and interests. Therefore, the Corporation recorded those commercial papers issued as long-term bills payable.

18. BONDS PAYABLE

Unsecured domestic bonds Less: Issuance cost of bonds payable Current portion		December 31	December 31
		2022 $ 48,250,000 19,432 8,349,635 $ 39,880,933	2021 $ 60,600,000 26,862 12,349,085 $ 48,224,053

The major terms of unsecured domestic bonds are as follows:

			Coupon
Issuance Period	Total Amount		Rate (%)	Repayment and Interest Payment
December 2020 to December	$	1,600,000	0.39	Repayable in December 2024 and
2025				December 2025; interest payable
				annually
May 2018 to May 2025		6,000,000	0.95	Repayable in May 2024 and May 2025;
				interest payable annually
October 2018 to October		4,150,000	0.90	Repayable 25% in October 2024 and 75%
2025				in October 2025; interest payable
				annually
December 2020 to December		4,200,000	0.43	Repayable 70% in December 2026 and
2027				30% in December 2027; interest
				payable annually
August 2012 to August 2022		15,000,000	1.50	Repayable in August 2021 and August
				2022; interest payable annually
July 2013 to July 2023		9,700,000	1.60	Repayable in July 2022 and July 2023;
				interest payable annually

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			Coupon
Issuance Period	Total Amount		Rate (%)	Repayment and Interest Payment
January 2014 to January 2024	$	7,000,000	1.95	Repayable in January 2023 and January
				2024; interest payable annually
August 2018 to August 2028		5,600,000	1.10	Repayable in August 2027 and August
				2028; interest payable annually
October 2018 to October		2,250,000	1.05	Repayable in October 2027 and October
2028				2028; interest payable annually
July 2013 to July 2028		3,600,000	1.88	Repayable 30% in July 2026, 30% in July
				2027 and 40% in July 2028; interest
				payable annually
January 2014 to January 2029		9,000,000	2.15	Repayable 30% in January 2027, 30% in
				January 2028 and 40% in January 2029;
				interest payable annually

19. OTHER PAYABLES

Salaries and bonus Purchase of equipment Compensation of employees and remuneration of directors Consignment payable Interest payable Outsourced repair and construction Others		December 31	December 31
		2022 $ 4,234,327 3,401,242 1,288,749 579,400 534,623 447,675 5,445,377 $ 15,931,393	2021 $ 6,216,571 4,128,446 4,610,316 841,044 537,479 643,274 5,846,976 $ 22,824,106

20. PROVISIONS

Onerous contracts (a) Construction warranties (b) Balance at January 1, 2022 Recognition (reversal) Balance at December 31, 2022	Onerous Contracts $ 4,318,852 (1,796,028) $ 2,522,824		December 31	December 31
			2022 $ 2,522,824 467,885 $ 2,990,709 Construction Warranties $ - 467,885 $ 467,885	2021 $ 4,318,852 - $ 4,318,852 Total $ 4,318,852 (1,328,143) $ 2,990,709

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Balance at January 1, 2021 Recognition (reversal) Balance at December 31, 2021	Onerous Contracts $ 4,287,537 31,315 $ 4,318,852	Construction Warranties $ 455 (455) $ -	Total $ 4,287,992 30,860 $ 4,318,852

a. The provision for onerous contracts of the Corporation comes from the non-cancellable purchase contracts, of which the provision amounts are measured using the difference between the unavoidable costs of meeting the contractual obligations and the economic benefits expected to be received from the contracts; and the non-cancellable construction contracts, of which the provision amounts are measured using the difference between the expected unavoidable costs of meeting the contractual obligations and the economic benefits expected to be received from the contracts.
b. The provision for construction warranties represents the present value of management’s best estimate of the future outflow of economic benefits that will be required under the Corporation’s obligations for warranties. The estimate had been made on the basis of historical warranty trends.

21. RETIREMENT BENEFIT PLANS

a. Defined contribution plans

The Corporation adopted a pension plan under the Labor Pension Act (the LPA), which is a state-managed defined contribution plan. Based on the LPA, the Corporation makes monthly contributions to employees’ individual pension accounts at 6% of monthly salaries and wages.

b. Defined benefit plans

The Corporation adopted the defined benefit plan under the Labor Standards Law, under which pension benefits are calculated on the basis of the length of service and average monthly salaries of the six months before retirement. The Corporation makes contributions, equal to a certain percentage of total monthly salaries, to a pension fund, which is deposited in the Bank of Taiwan in the name of and administered by the pension fund monitoring committee. Before the end of each year, the Corporation assesses the balance in the pension fund. If the amount of the balance in the pension fund is inadequate to pay retirement benefits for employees who conform to retirement requirements in the next year, the Corporation is required to fund the difference in one appropriation that should be made before the end of March of the next year. The pension fund is managed by the Bureau of Labor Funds, Ministry of Labor (the Bureau); the Corporation has no right to influence the investment policy and strategy. Starting from August 1999, the Corporation has also made contributions, equal to a certain percentage of salaries of management personnel (vice president above), to another pension fund, which are deposited and administered by the officers’ pension fund management committee. The Corporation has also set up rules of consolation payment and holiday benefits, which are defined benefit plans.

The amount of defined benefit plans included in the standalone balance sheets were as follows:

Present value of defined benefit obligation Fair value of plan assets Deficit Net defined benefit liabilities - recognized in other payables Net defined benefit liabilities		December 31	December 31
		2022 $ 15,546,313 (11,135,494) 4,410,819 (89,115) $ 4,321,704	2021 $ 18,099,065 (11,725,253) 6,373,812 (71,571) $ 6,302,241

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Movements of net defined benefit liabilities were as follows:

Balance at January 1, 2022 Service cost Current service cost Interest expense (income) Recognized in profit or loss Remeasurement Return on plan assets (excluding amounts included in net interest) Actuarial loss - changes in financial assumptions Actuarial loss - experience adjustments Recognized in other comprehensive income (loss) Contributions from the employer Benefits paid Contributions of employee returning to the Corporation Balance at December 31, 2022 Balance at January 1, 2021 Service cost Current service cost Interest expense (income) Recognized in profit or loss Remeasurement Return on plan assets (excluding amounts included in net interest) Actuarial gain - changes in demographic assumptions Actuarial loss - changes in financial assumptions Actuarial loss - experience adjustments Recognized in other comprehensive income (loss)	Present Value of the Defined Benefit Obligation Fair Value of the Plan Assets $ 18,099,065 $ (11,725,253) 435,757 - 67,872 (45,028) 503,629 (45,028) - (956,641) (759,672) - 423,820 - (335,852) (956,641) - (1,060,993) (2,723,692) 2,655,584 3,163 (3,163) (2,720,529) 1,591,428 $ 15,546,313 $ (11,135,494) $ 19,775,621 $ (12,904,754) 480,699 - 74,159 (49,374) 554,858 (49,374) - (185,096) (29,490) - 568,402 - 274,322 - 813,234 (185,096)	Net Defined Benefit Liabilities $ 6,373,812 435,757 22,844 458,601 (956,641) (759,672) 423,820 (1,292,493) (1,060,993) (68,108) - (1,129,101) $ 4,410,819 $ 6,870,867 480,699 24,785 505,484 (185,096) (29,490) 568,402 274,322 628,138

40 -

Contributions from the employer Benefits paid Contributions of employee returning to the Corporation Balance at December 31, 2021	Present Value of the Defined Benefit Obligation Fair Value of the Plan Assets $ - $ (1,575,914) (3,060,764) 3,006,001 16,116 (16,116) (3,044,648) 1,413,971 $ 18,099,065 $ (11,725,253)	Net Defined Benefit Liabilities $ (1,575,914) (54,763) - (1,630,677) $ 6,373,812

An analysis by function of the amounts recognized in profit or loss in respect of the defined benefit plans is as follows:

Operating costs Operating expenses Others	For the Year Ended	For the Year Ended	December 31
		2022 $ 279,861 178,728 12 $ 458,601	2021 $ 340,974 164,510 - $ 505,484

Through the defined benefit plans under the Labor Standards Law, the Corporation is exposed to the following risks:

1) Investment risk

The plan assets are invested in domestic and foreign equity, debt securities, and bank deposits, etc. The investment is conducted at the discretion of the Bureau of Labor Funds, Ministry of Labor or under the mandated management. However, in accordance with relevant regulations, the return generated by plan assets should not be below the interest rate for a 2-year time deposit with local banks.

2) Interest risk

A decrease in the government and corporate bond interest rate will increase the present value of the defined benefit obligation; however, this will be partially offset by an increase in the return on the plan’s debt investments.

3) Salary risk

The present value of the defined benefit obligation is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the present value of the defined benefit obligation.

The actuarial valuations of the present value of the defined benefit obligations were carried out by qualified actuaries. The principal assumptions used for the purposes of the actuarial valuations were as follows:

41 -

Discount rate (%) Expected rate of salary increase (%) Turnover rate (%)	December 31
	2022 2021 1.125 0.375 3.000 3.000 0.000-0.100 0.000-0.100

If possible reasonable change in each of the significant actuarial assumptions will occur and all other assumptions will remain constant, the present value of the defined benefit obligation would increase (decrease) as follows:

Discount rate 0.25% increase 0.25% decrease Expected rate of salary increase 0.25% increase 0.25% decrease		December 31	December 31
		2022 $ (238,003) $ 245,384 $ 240,746 $ (234,736)	2021 $ (282,441) $ 291,451 $ 282,269 $ (275,070)

The sensitivity analysis presented above may not be representative of the actual change in the present value of the defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated.

The expected contributions to the plan for the next year The average duration of the defined benefit obligation		December 31	December 31
		2022 $ 1,076,093 5.7 years	2021 $ 564,623 5.9 years

22. EQUITY

a. Share capital

Number of shares authorized (in thousands) Shares authorized Number of shares issued and fully paid (in thousands) Ordinary shares (in thousands) Preference shares (in thousands) Shares issued Ordinary shares Preference shares		December 31	December 31
		2022 17,000,000 $ 170,000,000 15,734,861 38,268 15,773,129 $ 157,348,610 382,680 $ 157,731,290	2021 17,000,000 $ 170,000,000 15,734,861 38,268 15,773,129 $ 157,348,610 382,680 $ 157,731,290

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1) Ordinary shares

Fully paid ordinary shares, which have a par value of NT$10, carry one vote per share and the right to dividends.

2) Preference shares

The Corporation’s Articles of preference shareholders have the following entitlements or rights:

a) 14% annual dividends, with dividend payments ahead of those to ordinary shareholders;
b) Preference over ordinary shares in future payment of dividends in arrears;
c) The sequence and percentage of appropriation of residual property are the same with ordinary shares;
d) The same rights as ordinary shareholders, except the right to vote for directors; and
e) Redeemable by the Corporation and convertible to ordinary shares by preference shareholders with the ratio of 1:1.

3) Overseas depositary receipts

In May 1992, February 1997, October 2003 and August 2011, the Corporation issued 126,512,550 units of GDR in the Europe U.S., and Asia. The depositary receipts then increased by 6,924,354 units resulting from the capital increase out of retained earnings. Each unit represents 20 shares of the Corporation’s ordinary shares and the issued GDRs account for the Corporation’s ordinary shares totaling 2,668,738,370 shares (including 290 fractional shares). Under relevant regulations, the GDR holders may also request the conversion to the shares represented by the GDR. The foreign investors may also request the reissuance of such depositary receipts within the originally approved units. As of December 31, 2022 and 2021, the outstanding depositary receipts were 682,975 units and 669,847 units, equivalent to 13,659,810 ordinary shares (including 310 fractional shares), and 13,397,250 ordinary shares (including 310 fractional shares), which represented 0.08% of all the outstanding ordinary shares.

b. Capital surplus

May be used to offset deficit, distribute cash or transfer to share capital (see 1 below) Additional paid-in capital Treasury share transactions Others May be used to offset deficit only (see 2 below) Share of change in equity of subsidiaries Share of change in equity of associates		December 31	December 31
		2022 $ 31,154,766 8,329,159 44,523 39,528,448 587,117 159,550 746,667 $ 40,275,115	2021 $ 31,154,766 7,336,666 8,099 38,499,531 579,555 159,550 739,105 $ 39,238,636

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1) The capital surplus could be used to offset a deficit and distribute as cash dividends or transfer to capital when the Corporation has no deficit (limited to a certain percentage of the Corporation’s paid-in capital).
2) The capital surplus included the share of change in equity of subsidiaries recognized without any actual acquisition or disposal of subsidiaries’ share by the Corporation or the adjustments to capital surplus of subsidiaries under equity method.
c. Retained earnings and dividend policy

The Corporation’s Articles of Incorporation provide that the annual net income, less any deficit, should be appropriated in the following order:

1) 10% as legal reserve;
2) Preference share dividends at 14% of par value;
3) Ordinary share dividends at no more than 14% of par value; and
4) The remainder, if any, as additional dividends divided equally between the holders of preference and ordinary shares.

The board of directors should propose the appropriation of earnings. If necessary, it may, after appropriating for preference share dividends, propose to appropriate a special reserve or to retain certain earnings. These proposals should be submitted to the shareholders’ meeting for approval.

The Corporation’s steel business is in a phase of stable growth; thus, 75% or more of the appropriation for dividends should be in cash and 25% or less in shares.

Appropriation of earnings to legal reserve could be made until the legal reserve equals the Corporation’s paid-in capital. Legal reserve may be used to offset deficit. If the Corporation has no deficit and the legal reserve has exceeded 25% of the Corporation’s paid-in capital, the excess may be transferred to capital or distributed in cash.

Under Rule issued by the FSC and the directive titled “Questions and Answers for Special Reserves Appropriated Following Adoption of IFRSs”, the Corporation should appropriate or reverse a special reserve. In addition, if the market price of the Corporation’s ordinary shares held by subsidiaries is lower than the carrying value of the Corporation’s shares held by subsidiaries, the Corporation should appropriate a special reserve equal to the difference between market price and carrying value multiplied by the percentage of ownership. Any special reserve appropriated may be reversed to the extent of the increase in valuation.

The appropriations of earnings for 2021 and 2020 had been approved in the shareholders’ meeting in June 2022 and August 2021, respectively. The appropriations and dividends per share were as follows:

Legal reserve Reversal of special reserve Preference shares Cash dividends Ordinary shares Cash dividends	Appropriation of Earnings For the Year Ended December 31 2021 2020 $ 6,154,632 $ 78,931 (723,473) (272,355) 118,631 53,575 48,778,069 4,720,458		Dividend Per Share (NT$)	Dividend Per Share (NT$)
			2021 $ 3.10 $ 3.10	2020 $ 1.40 $ 0.30

44 -

The appropriations of earnings for 2022 had been proposed by the Corporation’s board of directors on February 24, 2023 as follows:

	Appropriation	Appropriation	Dividends Per
	of Earnings		Share (NT$)
Legal reserve	$	1,917,329
Preference shares
Cash dividends		53,575	$ 1.40
Ordinary shares
Cash dividends		15,734,861	$ 1.00

The appropriations of earnings for 2022 are subject to the resolution of the shareholder’s meeting to be held in June 2023.

d. Special reserves

Balance, beginning of the year Reversal of special reserve Appreciation of the Corporation’s shares held by subsidiaries Disposal of property, plant and equipment Balance, end of the year	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
		2022 $ 27,639,574 (723,473) (1,444) $ 26,914,657	2021 $ 27,912,065 (272,355) (136) $ 27,639,574

e. Other equity items
1) Exchange differences on translating foreign operations

Balance, beginning of the year Recognized during the year Exchange differences arising from translating foreign operations Share from accounted for using the equity method Other comprehensive income (loss) recognized in the year Balance, end of the year	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
		2022 $ (9,167,082) 2,256,946 601,370 2,858,316 $ (6,308,766)	2021 $ (7,528,950) (1,508,504) (129,628) (1,638,132) $ (9,167,082)

2) Unrealized gains and losses on financial assets at fair value through other comprehensive income

Balance, beginning of the year Recognized during the year Unrealized gains and losses - equity instruments Share from accounted for using the equity method Other comprehensive income (loss) recognized in the year	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
		2022 $ 951,977 238,791 (4,290,567) (4,051,776)	2021 $ 543,417 1,024,622 (510,664) 513,958

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Cumulative unrealized gain or loss of equity instruments transferred to retained earnings due to disposal Balance, end of the year 3) Gains and losses on hedging instrument Cash Flow Hedges Fair Value Hedges Balance at January 1, 2022 $ (134,815) $ 155,182 Increase in the year 692,556 9,833 Balance at December 31, 2022 $ 557,741 $ 165,015 Balance at January 1, 2021 $ (13,723) $ 22,801 Increase (decrease) in the year (121,092) 132,381 Balance at December 31, 2021 $ (134,815) $ 155,182 a) Cash flow hedges Balance, beginning of the year Recognized during the year Foreign currency risk - hedging foreign - currency deposits Foreign currency risk - foreign exchange forward contracts Tax effect Share from accounted for using the equity method Reclassification adjustment Foreign currency risk - hedging foreign - currency deposits Tax effect Other comprehensive income (loss) recognized in the year Balance, end of the year	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
	2022 2021 $ 52,903 $ (105,398) $ (3,046,896) $ 951,977 Hedges of Net Investments in Foreign Operations Total $ 3,788,786 $ 3,809,153 - 702,389 $ 3,788,786 $ 4,511,542 $ 3,788,786 $ 3,797,864 - 11,289 $ 3,788,786 $ 3,809,153 For the Year Ended December 31
		2022 $ (134,815) 47,968 150,054 (39,604) 521,197 16,176 (3,235) 692,556 $ 557,741	2021 $ (13,723) (27,650) (16,441) 8,818 (93,657) 9,797 (1,959) (121,092) $ (134,815)

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b) Fair value hedges

Balance, beginning of the year Recognized during the year Foreign currency risk - bank loans Other comprehensive income (loss) recognized in the year Balance, end of the year c) Hedges of net investments in foreign operations Balance, beginning/end of the year	For the Year Ended	For the Year Ended	For the Year Ended	December 31
	2022 $ 155,182 9,833 9,833 $ 165,015 For the Year Ended			2021 $ 22,801 132,381 132,381 $ 155,182 December 31
		2022 $ 3,788,786	2021 $ 3,788,786

f. Treasury shares Purpose of Treasury Shares For the year ended December 31, 2022 Shares held by subsidiaries reclassified from investments accounted for using equity method to treasury shares For the year ended December 31, 2021 Shares held by subsidiaries reclassified from investments accounted for using equity method to treasury shares		Thousand Shares Beginning of Year Addition Reduction 320,159 - - 320,765 - 606		December 31	December 31
		Beginning of Year 320,159 320,765		Thousand Shares 320,159 320,159	Book Value $ 8,649,421 $ 8,649,421

The Corporation’s shares acquired and held by subsidiaries for the purpose of investment are accounted for as treasury shares (subsidiaries recorded those shares as financial assets at fair value through other comprehensive income - current and financial assets at fair value through other comprehensive income - noncurrent) based on the percentage of ownership held by the Corporation. The Corporation’s shares held by more than 50%-owned subsidiaries are not allowed to participate in the Corporation’s capital increase in cash and have no voting rights; other rights are the same as other ordinary shareholders. The increase or decrease of treasury shares was mainly due to acquisition and sale of the Corporation’s shares by subsidiaries or change in percentage of ownership.

Refer to Table 3 for the Corporation’s shares held by subsidiaries as of December 31, 2022 were 517,246 thousand shares regardless of the percentage of ownership held by the Corporation. As of December 31, 2022 and 2021 the market values of the treasury shares calculated by combined holding percentage were NT$9,541,857 thousand and NT$11,318,753 thousand, respectively.

47 -

23. OPERATING REVENUE

a. Contract balances

Notes and accounts receivable (Note 10) Contract assets Construction contracts Contract liabilities Sale of goods Construction contracts Disaggregation of revenue For the year ended December 31, 2022 Type of goods or services Sale of goods Others For the year ended December 31, 2021 Type of goods or services Sale of goods Others	December 31, 2022 $ 4,208,230 $ 839,682 $ 1,098,460 353,893 $ 1,452,353 Steel Department $ 244,865,758 - $ 244,865,758 Steel Department $ 254,290,694 - $ 254,290,694	December 31, 2021 $ 6,910,516 $ 179,901 $ 1,367,560 333,771 $ 1,701,331 Others $ - 5,734,871 $ 5,734,871 Others $ - 5,491,777 $ 5,491,777	January 1, 2021 $ 5,284,823 $ 475,313 $ 1,110,181 90,061 $ 1,200,242 Total $ 244,865,758 5,734,871 $ 250,600,629 Total $ 254,290,694 5,491,777 $ 259,782,471

b. Disaggregation of revenue

c. Partially completed contracts

As of December 31, 2022 and 2021, the transaction prices allocated to the performance obligations that were not fully satisfied amounted to NT$3,505,475 thousand and NT$5,670,845 thousand, respectively. The Corporation will recognize revenue as the construction is being completed and the expected timing for recognition of revenue is on various dates through October 2025.

48 -

24. PROFIT BEFORE INCOME TAX

a. Interest income

For the Year Ended	For the Year Ended	For the Year Ended	December 31
2022 $ 94,421 73,056 $ 167,477 For the Year Ended			2021 $ 16,358 63,783 $ 80,141 December 31
2022 2021 $ 442,187 $ 453,079 428,438 451,620 178,133 195,691 844,627 389,784 $ 1,893,385 $ 1,490,174 For the Year Ended December 31
2022 $ 711,924 28,415 7,640 (19,298) (528,976) $ 199,705 For the Year Ended			2021 $ 629,814 - 4,930 (42,792) (390,887) $ 201,065 December 31
	2022 $ 2,043,988 (1,332,064) $ 711,924	2021 $ 1,240,674 (610,860) $ 629,814

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d. Finance costs

For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
2022 2021 $ 794,603 $ 945,035 233,459 49,408 162,288 41,961 10,442 10,520 1,200,792 1,046,924 204,099 250,944 $ 996,693 $ 795,980 For the Year Ended December 31
2022 $ 204,099 0.95-1.47 For the Year Ended			2021 $ 250,944 1.03-1.36 December 31
2022 $ - For the Year Ended			2021 $ 663,904 December 31
	2022 $ 14,863,425 350,383 22,505 4,978 $ 15,241,291 $ 14,572,118 641,690 22,505 $ 15,236,313 $ 4,978	2021 $ 14,773,389 322,125 22,852 9,956 $ 15,128,322 $ 14,206,878 881,829 29,659 $ 15,118,366 $ 9,956

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g. Employee benefits

Short-term employee benefits Salaries Labor and health insurance Others Post-employment benefits Defined contribution plans Defined benefit plans (Note 21) Termination benefits Analysis of employee benefits by function Operating costs Operating expenses Others	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
		2022 $ 16,144,582 1,128,873 641,644 17,915,099 387,861 458,601 846,462 66,833 $ 18,828,394 $ 15,388,306 3,166,307 273,781 $ 18,828,394	2021 $ 24,063,918 1,020,163 712,032 25,796,113 353,389 505,484 858,873 77,824 $ 26,732,810 $ 22,074,772 4,491,117 166,921 $ 26,732,810

h. Compensation of employees and remuneration of directors

According to the Articles of Incorporation, the article stipulates the Corporation distributed compensation of employees and remuneration of directors at the rates no less than 0.1% and no higher than 0.15%, respectively, of the pre-tax profit prior to deducting compensation of employees and remuneration of directors.

The compensation of employees and remuneration of directors for the years ended December 31, 2022 and 2021 which have been approved by the Corporation’s board of directors in February 2023 and 2022, respectively, were as follows:

Compensation of employees Remuneration of directors	For the Year Ended December 31
	2022 2021 $ 1,265,030 $ 4,525,464 23,719 84,852

If there is a change in the amounts after the annual financial statements are authorized for issue, the difference is recorded as a change in accounting estimate in the next following year.

The appropriations of compensation of employees and remuneration of directors (all in cash) for 2021 and 2020 which had been approved by the Corporation’s board of directors in February 2022 and February 2021, respectively, were as follows:

Compensation of employees Remuneration of directors	For the Year Ended December 31
	2021 2020 $ 4,525,464 $ 82,057 84,852 1,539

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There is no difference between the actual payment of compensation of employees and remuneration of directors and the amounts recognized in the financial statements for the years ended December 31, 2021 and 2020.

Information on the compensation of employees and remuneration of directors resolved by the board of directors are available on the Market Observation Post System website of the Taiwan Stock Exchange.

25. INCOME TAX

a. Income tax recognized in profit or loss

The major components of income tax were as follows:

Current tax In respect of the current year In respect of prior years Deferred tax In respect of the current year In respect of prior years	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
		2022 $ 2,180,663 (101,188) 515,709 (12,390) $ 2,582,794	2021 $ 7,371,181 23,689 1,576,882 26,562 $ 8,998,314

The reconciliation of accounting profit and income tax expense was as follows:

Profit before income tax

Income tax expense calculated at the statutory rate

Non-deductible expenses in determining taxable income
Tax-exempt income
Realized investment loss
Investment credits in respect of the current year
Separate taxation on repatriated offshore funds
Adjustments for prior years’ tax in respect of the current year

Income tax recognized directly in equity

Current tax
Reversal of special reserve due to disposal of property, plant
and equipment

For the Year Ended December 31

2022
2021
$ 20,366,569
$ 71,051,347
$ 4,073,314 $ 14,210,269
11,918
15,454
(1,344,740)
(4,696,088)
(27,686)
(647,072)
(16,434)
(16,846)
-
82,346

(113,578)

50,251
$ 2,582,794
$ 8,998,314
For the Year Ended December 31

2022
2021
$ 446
$ 42

b. Income tax recognized directly in equity

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Deferred tax Reversal of special reserve due to disposal of property, plant and equipment	For	the Year Ended December 31	the Year Ended December 31
		2022 $ (446) $ -	2021 $ (42) $ -

c. Income tax benefit recognized in other comprehensive income (loss)

Current - fair value changes of cash flow hedges Current - remeasurement of defined benefit plan Fair value changes of hedging instruments in cash flow hedges transferred to adjust carrying amounts of hedged items	For the Year Ended	For the Year Ended	December 31
		2022 $ (39,604) (258,499) (3,235) $ (301,338)	2021 $ 8,818 125,627 (1,959) $ 132,486

d. Deferred tax assets and liabilities

Movements of deferred tax assets and liabilities were as follows:

For the Year Ended December 31, 2022

Deferred taxassets Temporary differences Defined benefit pension plan Unrealized loss on inventories Provision Unrealized gain on the transactions with subsidiaries and associates Others Deferred tax liabilities Temporary differences Land value increment tax Depreciation Foreign investment gain Others	Balance, Beginning of Year Recognized in Profit or Loss Recognized in Other Comprehensive Income $ 1,274,762 $ (134,100 ) $ (258,499 ) 863,247 365,503 - 863,771 (265,629 ) - 267,603 (116,611 ) - 203,196 (101,466) (13,386 ) $ 3,472,579 $ (252,303) $ (271,885) $ 10,011,916 $ - $ - 404,011 (69,008 ) - 1,180,596 331,440 - 116,312 (11,416) 29,453 $ 11,712,835 $ 251,016 $ 29,453	Recognized Directly in Equity $ - - - - - $ - $ - - - (446) $ (446)	Balance, End of Year $ 882,163 1,228,750 598,142 150,992 88,344
			$ 2,948,391
			$ 10,011,916 335,003 1,512,036 133,903
			$ 11,992,858

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For the Year Ended December 31, 2021

Deferred taxassets Temporary differences Defined benefit pension plan Unrealized loss on inventories Provision Unrealized gain on the transactions with subsidiaries and associates Foreign investment loss Others Deferred tax liabilities Temporary differences Land value increment tax Depreciation Foreign investment gain Others	Balance, Beginning of Year Recognized in Profit or Loss Recognized in Other Comprehensive Income $ 1,374,173 $ (225,038 ) $ 125,627 611,505 251,742 - 1,383,275 (519,504 ) - 207,675 59,928 - 120,195 (120,195 ) - 139,544 56,793 6,859 $ 3,836,367 $ (496,274) $ 132,486 $ 10,011,916 $ - $ - 472,561 (68,550 ) - - 1,180,596 - 121,230 (4,876) - $ 10,605,707 $ 1,107,170 $ -	Recognized Directly in Equity $ - - - - - - $ - $ - - - (42) $ (42)	Balance, End of Year $ 1,274,762 863,247 863,771 267,603 - 203,196
			$ 3,472,579
			$ 10,011,916 404,011 1,180,596 116,312
			$ 11,712,835

e. Income tax assessments

The Corporation’s income tax returns through 2019 have been assessed by the tax authorities, except for the Corporation’s income tax returns of 2018 which have not yet been approved.

26. EARNINGS PER SHARE

The net profit and weighted average number of ordinary shares outstanding in the computation of earnings per share were as follows:

Net profit for the year

Net profit for the year attributable to owners of the Corporation

Less: Dividends on preference shares

Net profit used in computation of basic earnings per share
Add: Dividends on preference shares

Net profit used in computation of diluted earnings per share

Number of shares (in thousand shares)

Weighted average number of ordinary shares used in computation of
basic earnings per share
Effect of dilutive potential ordinary shares:
Compensation of employees

For the Year Ended December 31

2022
2021
$ 17,783,775 $ 62,053,033

53,575

150,550
17,730,200
61,902,483

-

150,550
$ 17,730,200
$ 62,053,033
For the Year Ended December 31

2022
2021
15,414,702
15,414,564
62,148
128,525

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Convertible preference shares Weighted average number of ordinary shares used in computation of diluted earnings per share	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
		2022 - 15,476,850	2021 38,268 15,581,357

Preference shares were not included in the calculation of diluted earnings per share for the years ended December 31, 2022 because of their anti-dilutive effect.

Since the Corporation offered to settle the compensation paid to employees in cash or shares, the Corporation assumed the entire amount of the compensation will be settled in shares and the resulting potential shares were included in the weighted average number of shares outstanding used in the computation of diluted earnings per share, as the effect is dilutive. Such dilutive effect of the potential shares is included in the computation of diluted earnings per share until the number of shares to be distributed to employees is resolved in the following year.

27. CAPITAL MANAGEMENT

The management of the Corporation optimized the balances of working capital, debt and equity as well as the related cost through monitoring the Corporation’s capital structure and capital demand by reviewing quantitative data and considering industry characteristics, domestic and international economic environment, interest rate fluctuation, strategies for development, etc.

28. FINANCIAL INSTRUMENTS

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

The management believes the carrying amounts of financial instruments that are not measured at fair value, such as cash and cash equivalent, receivables and payables approximate their fair values.

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

December 31, 2022 Financial assets at fair value through profit or loss Foreign unlisted preference shares	Level 1 $ -	Level 2 $ -	Level 3 $ 712,241	Total $ 712,241

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Financial assets at fair value through other comprehensive income Equity instruments Domestic listed shares Foreign listed shares Domestic unlisted shares Foreign unlisted shares Financial assets for hedging Foreign exchange forward contracts Financial liabilities for hedging Foreign exchange forward contracts December31,2021 Financial assets at fair value through profit or loss Foreign unlisted preference shares Financial assets at fair value through other comprehensive income Equity instruments Domestic listed shares Foreign listed shares Domestic unlisted shares Foreign unlisted shares Financial assets for hedging Foreign exchange forward contracts Financial liabilities for hedging Foreign exchange forward contracts	Level 1 $ 9,302,598 2,023,916 - - $ 11,326,514 $ - $ - $ - $ 9,675,363 2,218,941 - - $ 11,894,304 $ - $ -	Level 2 $ - - - - $ - $ 120,862 $ 2,162 $ - $ - - - - $ - $ 211 $ 31,565	Level 3 $ - - 718,344 27,445,211 $ 28,163,555 $ - $ - $ 731,198 $ - - 905,871 26,451,103 $ 27,356,974 $ - $ -	Total $ 9,302,598 2,023,916 718,344 27,445,211 $ 39,490,069 $ 120,862 $ 2,162 $ 731,198 $ 9,675,363 2,218,941 905,871 26,451,103 $ 39,251,278 $ 211 $ 31,565

There was no transfer between Level 1 and Level 2 for the years ended December 31, 2022 and 2021.

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2) Reconciliation of Level 3 fair value measurements of financial assets

For the year ended December 31, 2022

Financial Assets
Financial Assets
at Fair Value
Through
Profit or Loss
Financial Assets
at Fair Value
Through Other
Comprehensive
Income

Balance, beginning of the year
$ 731,198 $ 27,356,974
Recognized in profit or loss

(18,957)
-
Recognized in other comprehensive
income (loss)

-

806,581

Balance, end of the year
$ 712,241
$ 28,163,555

For the year ended December 31, 2021
Financial Assets
Financial Assets
at Fair Value
Through
Profit or Loss
Financial Assets
at Fair Value
Through Other
Comprehensive
Income

Balance, beginning of the year
$ 843,818 $ 26,479,019
Recognized in profit or loss

(112,620)
-
Recognized in other comprehensive
income (loss)

-
1,851,900
Transfer out of level 3

-

(973,945)

Balance, end of the year
$ 731,198
$ 27,356,974

Total
$ 28,088,172

(18,957)

806,581
$ 28,875,796
Total
$ 27,322,837

(112,620)
1,851,900

(973,945)
$ 28,088,172

3) Valuation techniques and inputs applied for the purpose of measuring Level 2 fair value measurement.

Derivative instruments - A discounted cash flow analysis was performed using the applicable yield curve for the duration of the derivative instruments for foreign exchange forward contracts. The estimates and assumptions used by the Corporation were consistent with those that market participants would use in setting a price for the financial instrument.

4) Valuation techniques and inputs applied for the purpose of measuring Level 3 fair value measurement
a) For domestic unlisted shares, fair values were determined based on industry types, valuations of similar companies and operations.
b) For other foreign unlisted shares, fair values were measured under income approach and calculated by the present value of the expected return by using discounted cash flow model. Significant unobservable inputs were as follows; if the long-term pre-tax operating income rate increased or discount rate decreased, the fair value of the investments would increase.
57 -

Long-term pre-tax operating income rate (%) Discount rate (%)	December 31
	2022 2021 13.38 5.97-20.48 10.50 8.10-19.87

If the below input to the valuation model was changed to reflect reasonably possible alternative assumptions while all other variables were held constant, the fair value of the equity investment would increase (decrease) as follows:

Long-term pre-tax operating income rate Increase 1% Decrease 1% Discount rate Increase 1% Decrease 1%		December 31	December 31
		2022 $ 174,148 $ (174,792) $ (264,893) $ 335,073	2021 $ 206,905 $ (210,038) $ (219,650) $ 308,478

c) For the remaining few foreign unlisted shares, their fair values were measured under the market approach. In particular significant unobservable inputs included discount for lack of marketability and control premium. If discount for lack of marketability decreased or control premium increased, the fair values of the investments would increase.
c. Categories of financial instruments

Financial assets Financial assets at fair value through profit or loss Financial assets for hedging Financial assets at amortized cost 1) Financial assets at fair value through other comprehensive income Financial liabilities Financial liabilities for hedging Financial liabilities at amortized cost 2)	December 31
	2022 2021 $ 712,241 $ 731,198 1,104,158 382,538 22,594,916 27,756,996 39,490,069 39,251,278 1,047,381 1,113,214 133,458,993 116,681,528

1) The balances included financial assets measured at amortized cost, which comprise cash and cash equivalents, notes and accounts receivable (including related parties), other receivables (including loans to related parties), refundable deposits and other financial assets.
2) The balances included financial liabilities measured at amortized cost, which comprise short-term borrowings and bank overdraft, short-term bills payable, accounts payable (including related parties), other payables, refund liabilities, bonds payable, long-term bank borrowings, long-term bills payable and deposits received.
58 -
d. Financial risk management objectives and policies

The Corporation places great emphasis on financial risk management. By tracking and managing the market risk, credit risk, and liquidity risk efficiently, the management ensured that the Corporation was equipped with sufficient and cost - efficient working capital, which reduced financial uncertainty that may have adverse effects on the operations.

The significant financial activities of the Corporation are reviewed by the board of directors in accordance with relevant regulations and internal controls. The finance department follows the accountability and related financial risk control procedures required by the Corporation for executing financial projects. Compliance with policies and exposure limits is continually reviewed by the internal auditors. The Corporation did not enter into or trade financial instruments, including derivative financial instruments, for speculative purposes.

1) Market risk
a) Foreign currency risk

The Corporation was exposed to foreign currency risk due to purchases, construction undertaking, capital expenditures and equity investments denominated in foreign currencies. Exchange rate exposures were managed within approved policy parameters utilizing foreign exchange forward contracts, foreign deposits or foreign borrowings.

The carrying amounts of the significant non-functional currency monetary assets and liabilities at the end of the reporting period were referred to Note 32.

The Corporation was mainly exposed to the USD. The following table details the sensitivity to a 1% increase in NTD against the relevant foreign currency.

Pre-tax profit or loss Equity	USD Impact
	For the Year Ended December 31
	2022 2021 $ (6,918) i $ 26,791 i (5,196 ) ii (1,410 ) ii

i. These were mainly attributable to the exposure of cash, outstanding receivables, other financial assets and payables and short-term borrowings which were not hedged at the balance sheet date.
ii. These were attributable to financial assets for hedging that were designated as hedging instruments in cash flow hedges.

In management’s opinion, the sensitivity analysis was unrepresentative of the inherent foreign exchange risk because the exposure at the balance sheet date did not reflect the exposure during the year.

Hedge accounting

The Corporation’s hedging strategies were as follows:

i. The Corporation and its subsidiaries’ hedging strategy is to enter into foreign exchange forward contracts and purchase foreign currency to hedge. Those transactions are designated as cash flow hedges.
59 -
ii. The Corporation has designated certain foreign currency bank borrowing as a hedge to manage its foreign currency risk:
i) Currency risks on foreign equity investments are accounted for as fair value hedge. Changes in the fair value of hedging instruments are recognized, based on the nature of hedged items, either in other gains or losses or other comprehensive income. The Corporation performs assessment of hedging effectiveness and it expects that the value of foreign currency borrowing and the value of the foreign equity investment will systematically change in opposite direction in response to movements in the underlying exchange rates.
ii) Foreign currency risk on investments in foreign operations is managed by using foreign currency bank borrowing as a hedge instrument to hedge the investment.

The following tables summarize the information relating to the hedges of foreign currency risk.

December 31, 2022

Hedging Instruments/
Line Item in
Hedged Items
Balance Sheet
Cash flow hedge
Foreign exchange forward
contracts/Forecast purchases and
construction contracts
Financial assets/
liabilities for hedging
Hedging foreign-currency
deposits/Forecast purchases and
construction contracts
Financial assets for
hedging
Net investment hedge in foreign
operations
Foreign currency bank
borrowings/Investment in foreign
operations
-
Fair value hedge
Foreign currency bank
borrowings/Financial assets at
FVTOCI
Financial liabilities for
hedging
Foreign currency bank
borrowings/Financial assets at
FVTPL
Financial liabilities for
hedging

Carrying Amount

Asset
Liability
$ 120,862
$ 2,162
983,296
-
-
-
-
282,134
-
763,085

Change in Fair Value of Hedging Instruments Used for Change in Fair Value of Hedged Items Used for Calculating Calculating Hedging Instruments/ Hedge Hedge Hedged Items Ineffectiveness Ineffectiveness Cash flow hedge Foreign exchange forward contracts/ $ 150,054 $ (150,054) Forecast purchases and construction contracts Hedging foreign-currency deposits/ 64,144 (64,144) Forecast purchases and construction contracts Net investment hedge in foreign operations Foreign currency bank borrowings/Investment in foreign operations - -	Balance inOther Equity	Fair Value Hedge - Hedged Items’ Carrying Amount	Fair Value Hedge - Accumulated Amount of Fair Value Hedge Adjustments
	Continuing Discontinuing Hedges Hedges $ 118,700 $ - 28,567 - - 3,788,786
		Asset NA NA NA	Asset NA NA NA

60 -

Change in Fair Value of Hedging Instruments Used for Change in Fair Value of Hedged Items Used for Fair Value Hedge - Hedged Items’ Fair Value Hedge - Accumulated Amount of Fair Calculating Calculating Balance inOther Equity Carrying Value Hedge Hedging Instruments/ Hedge Hedge Continuing Discontinuing Amount Adjustments Hedged Items Ineffectiveness Ineffectiveness Hedges Hedges Asset Asset Fair value hedge Foreign currency bank borrowings/Financial assets at FVTOCI $ 9,833 $ (9,736) $ 76,095 $ 88,920 $ 236,118 $ (66,486) Foreign currency bank borrowings/Financial assets at FVTPL 26,597 (26,998) NA NA 712,241 (243,705) December 31, 2021 Hedging Instruments/ Line Item in Carrying Amount Hedged Items Balance Sheet Asset Liability Cash flow hedge Foreign exchange forward contracts/Forecast purchases and construction contracts Financial assets/ liabilities for hedging $ 211 $ 31,565 Hedging foreign-currency deposits/Forecast purchases and construction contracts Financial assets for hedging 382,327 - Net investment hedge in foreign operations Foreign currency bank borrowings/Investment in foreign operations - - - Fair value hedge Foreign currency bank borrowings/Financial assets at FVTOCI Financial liabilities for hedging - 291,967 Foreign currency bank borrowings/Financial assets at FVTPL Financial liabilities for hedging - 789,682 Change in Fair Value of Hedging Instruments Used for Change in Fair Value of Hedged Items Used for Fair Value Hedge - Hedged Items’ Fair Value Hedge - Accumulated Amount of Fair Calculating Calculating Balance inOther Equity Carrying Value Hedge Hedging Instruments/ Hedge Hedge Continuing Discontinuing Amount Adjustments Hedged Items Ineffectiveness Ineffectiveness Hedges Hedges Asset Asset Cash flow hedge Foreign exchange forward contracts/ $ (16,441) $ 16,441 $ (31,354) $ - NA NA Forecast purchases and construction contracts Hedging foreign-currency deposits/ Forecast purchases and construction (17,853) 17,853 (35,576) - NA NA contracts Net investment hedge in foreign operations Foreign currency bank borrowings/Investment in foreign operations - - - 3,788,786 NA NA Fair value hedge Foreign currency bank borrowings/Financial assets at FVTOCI 43,461 (43,032) 66,262 88,920 $ 244,829 $ (56,750) Foreign currency bank borrowings/Financial assets at FVTPL 117,550 (119,321) NA NA 731,198 (216,707)	Balance i	nOther Equity	Fair Value Hedge - Hedged Items’ Carrying Amount	Fair Value Hedge - Accumulated Amount of Fair Value Hedge Adjustments
	Continuing Discontinuing Hedges Hedges $ (31,354) $ - (35,576) - - 3,788,786 66,262 88,920 NA NA
			Asset NA NA NA $ 244,829 731,198	Asset NA NA NA $ (56,750) (216,707)

61 -

For the year ended December 31, 2022

Effect on Comprehensive Income (Loss) Hedging Gains (Losses) Recognized in OCI Amount of Hedge Ineffectiveness Recognized in P/L Line Item in Which Hedge Ineffectiveness is Included Cash flow hedge Foreign exchange forward contracts $ 150,054 $ - - Hedging foreign - currency deposits 64,144 - - $ 214,198 $ -		Amount Reclassifi the Adjusted	ed to P/L and Line Item
		Due to Hedged Item Affecting P/L $ - - $ -	Due to Hedged Future Cash Flows No Longer Expected to Occur $ - - $ -

For the year ended December 31, 2021

Effect on Comprehensive Income (Loss) Hedging Gains (Losses) Recognized in OCI Amount of Hedge Ineffectiveness Recognized in P/L Line Item in Which Hedge Ineffectiveness is Included Cash flow hedge Foreign exchange forward contracts $ (16,441 ) $ - - Hedging foreign - currency deposits (17,853) - - $ (34,294) $ -		Amount Reclassifi the Adjusted	ed to P/L and Line Item
		Due to Hedged Item Affecting P/L $ - - $ -	Due to Hedged Future Cash Flows No Longer Expected to Occur $ - - $ -

The outstanding foreign exchange forward contracts of the Corporation at the balance sheet date were as follows:

				Period for Generating Cash	Contract Amount
			Currency	Flows and Maturity Date	(In Thousands)
December	31,	2022
Buy			NTD/USD	2023.01-2026.08	NTD2,008,860/USD73,194
Buy			NTD/JPY	2023.03	NTD6,248/JPY21,500
December	31,	2021
Buy			NTD/USD	2022.01-2025.11	NTD1,999,203/USD73,053
Buy			NTD/EUR	2022.01-2022.12	NTD86,261/EUR2,514
Buy			NTD/JPY	2022.03-2023.03	NTD19,122/JPY66,300

b) Interest rate risk

The Corporation was exposed to interest rate risk because the Corporation borrowed funds at both fixed and floating interest rates. The risk is managed by the Corporation by maintaining an appropriate mix of fixed and floating rate borrowings.

The carrying amounts of the Corporation’s financial liabilities with exposure to interest rates at the balance sheet date were as follows:

Fair value interest rate risk Financial liabilities	December 31
	2022 2021 $ 62,882,102 $ 61,738,704

62 -

Cash flow interest rate risk Financial liabilities	December 31
	2022 2021 $ 49,406,624 $ 21,370,921

If interest rates had been 1% higher/lower and all other variables were held constant, the Corporation’s pre-tax profit for the years ended December 31, 2022 and 2021 would have been lower/higher by NT$494,066 thousand and NT$213,709 thousand, respectively.

c) Other price risk

The Corporation was exposed to equity price risk through its investments in domestic and foreign listed shares.

If equity prices had been 1% lower/higher, the other comprehensive income for the year ended December 31, 2022 and 2021 would have been lower/higher by NT$113,265 thousand and NT$118,943 thousand, respectively, as a result of the changes in fair value of financial assets at fair value through other comprehensive income.

2) Credit risk

Credit risk refers to the risk that counterparty will default on its contractual obligations resulting in financial loss to the Corporation. As of the balance sheet date, the Corporation’s maximum exposure to credit risk is the carrying amount of the financial assets on the standalone balance sheets and the amount of contingent liabilities in relation to financial guarantee issued by the Corporation.

The Corporation does not expect significant credit risk because the counterparties are creditworthy financial institutions and companies. The Corporation did transactions with a large number of unrelated customers and no concentration of credit risk was observed.

As of December 31, 2022 and 2021, the maximum credit risk of off-balance-sheet guarantees provided to related parties for procurement and investment compliance was NT$4,492,540 thousand and NT$14,583,569 thousand, respectively.

3) Liquidity risk

The management of the Corporation continuously monitors the movement of cash flows, net cash position, significant capital expenditures and the utilization of bank loan commitments to control proportion of the long-term and short-term bank loans or issue bonds payable, and ensures compliance with loan covenants.

The following table details the undiscounted cash flows of the Corporation’s remaining contractual maturity for its non-derivative financial liabilities from the earliest date on which they can be required to pay. The tables included both interest and principal cash flows. Specifically, bank loans with a repayment on demand clause were included in the earliest time band regardless of the probability of the banks choosing to exercise their rights. The maturity dates for other non-derivative financial liabilities were based on the agreed repayment dates.

63 -

December 31, 2022 Non-derivative financial liabilities Non-interest bearing liabilities Lease liabilities Variable interest rate liabilities Fixed interest rate liabilities Refund liabilities Financial guarantee liabilities December 31, 2021 Non-derivative financial liabilities Non-interest bearing liabilities Lease liabilities Variable interest rate liabilities Fixed interest rate liabilities Refund liabilities Financial guarantee liabilities	Less Than 1 Year $ 20,819,471 362,146 25,644,543 22,879,118 2,275,656 - $ 71,980,934 $ 32,032,488 276,684 15,486,013 13,668,895 3,456,564 4,502,676 $ 69,423,320	1-5 Years $ - 698,415 24,235,194 29,693,220 - 90,094 $ 54,716,923 $ - 658,444 5,900,000 29,403,866 - 8,598,100 $ 44,560,410	Over 5 Years $ - 150,261 - 11,793,344 - 4,402,446 $ 16,346,051 $ - 265,949 - 21,010,936 - 1,482,793 $ 22,759,678	Total $ 20,819,471 1,210,822 49,879,737 64,365,682 2,275,656 4,492,540
				$ 143,043,908
				$ 32,032,488 1,201,077 21,386,013 64,083,697 3,456,564 14,583,569
				$ 136,743,408

The amounts included above for financial guarantee contracts were the maximum amounts the Corporation could be required to settle under the arrangement for the full guaranteed amount if that amount is claimed by the counterparty to the guarantee. Based on expectations at the end of the reporting period, the Corporation considers that it is more likely than not that none of the amount will be payable under the arrangement.

29. TRANSACTIONS WITH RELATED PARTIES

a. The name of the company and its relationship with the Corporation

Company Relationship C. S. Aluminium Corporation (CSAC) Subsidiary China Steel Express Corporation (CSE) Subsidiary China Steel Chemical Corporation (CSCC) Subsidiary China Steel Global Trading Corporation (CSGT) Subsidiary CHC Resources Corporation (CHC) Subsidiary China Ecotek Corporation (CEC) Subsidiary China Steel Structure Co., Ltd. (CSSC) Subsidiary Chung Hung Steel Corporation (CHS) Subsidiary China Steel Machinery Corporation (CSMC) Subsidiary Gains Investment Corporation (GIC) Subsidiary

64 -

Company
China Steel Security Corporation (CSS)
China Prosperity Development Corporation. (CPDC)
InfoChamp Systems Corporation (Info Champ)
Ever Wealthy International Corporation
China Steel Management Consulting Corporation
Himag Magnetic Corporation
Magnpower Corporation
Dragon Steel Corporation (DSC)
China Steel Nippon Steel Vietnam Joint Stock Company
(CSVC)
CSGT (Singapore) Pte. Ltd.
CSE Transport Corporation
Mentor Consulting Corporation
Steel Castle Technology Corporation
Union Steel Development Corp.
Betacera Inc.
Wabo Global Trading Corporation
Universal Exchange Inc.
United Steel Engineering & Construction Corporation (USEC)
Thintech Materials Technology Co., Ltd.
CSGT Metals Vietnam Joint Stock Company (CSGT-VTM)
CSC Steel Sdn. Bhd. (CSCM)
CSGT Japan Co., Ltd.
CSGT Hong Kong Limited
CSGT (Shenzhen) Co., Ltd.
CSGT (Shanghai) Co., Ltd.
Gau Ruei Investment Corporation
Chiun Yu Investment Corporation
Taiwan Intelligent Transportation Co., Ltd.
Changzhou China Steel Precision Materials Co., Ltd. (CSPM)
CSCI Steel Corporation India Pvt. Ltd. (Renamed from China
Steel Corporation India Pvt. Ltd.) (CSCI)
China Steel Precision Metals-Qingdao Co., Ltd. (CSMQ)
China Steel Precision Metals Kunshan Co., Ltd. (CSPK)
Hung Kao Investment Corporation
CSC Precision Metal Industrial Corporation (CPMI)
China Steel Resources Corporation (CSRC)
CK Japan Co., Ltd.
China Steel Management and Maintenance for Buildings
Corporation
Kaohsiung Rapid Transit Corporation (KRTC)
Kaoport Stevedoring Corporation
Pao Good Industrial Co., Ltd.
CSC Sonoma Pty Ltd
CSC Solar Corporation
Sing Da Marine Structure Corporation (SDMS)
China Steel Power Holding Corporation (CPHC)
China Steel Power Corporation (ZN)
CSGT Trading India Private Limited
TaiAn Technologies Corporation
Hsin Hsin Cement Enterprise Corporation
TSK Steel Company Limited
Fukuta Electric & Machinery Co., Ltd.

Relationship

Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Associate
Associate
Associate
Associate

65 -

Company Relationship Honley Auto. Parts Co., Ltd. (HONLEY) Associate Taiwan Rolling Stock Company Ltd. Associate Eminent II Venture Capital Corporation Associate Overseas Investment & Development Corporation Associate Kaohsiung Arena Development Corporation Associate Dyna Rechi Co., Ltd. Associate Changchun CECK Auto. Parts Co., Ltd. (CCCA) Subsidiary of associates before November 2022 Dyna Rechi (Jiujiang) Co., Ltd. Subsidiary of associates Formosa Ha Tinh (Cayman) Limited (FHC) Other related party Formosa Ha Tinh Steel Corporation Other related party CSC Educational Foundation Other related party CSBC Corporation, Taiwan The Corporation as key management of other related parties; Discharge in June 2022 CDIB Bioscience Ventures I, Inc. The Corporation as key management of other related parties Rechi Precision Co., Ltd. The Corporation as key management of other related parties East Asia United Steel Corporation The Corporation as key management of other related parties Taiwan High Speed Rail Corporation The Corporation as key management of other related parties Tang Eng Iron Works Co., Ltd. The Corporation as key management of other related parties Taiwan International Wind power Training Corporation The Corporation as key management of other related parties Sakura Ferroalloys Sdn. Bhd. The Corporation as key management of other related parties TCL Rechi (Huizhou) Refrigeration Equipment Ltd. The Corporation as key management of parent company Rechi Refrigeration (Dongguan) Co, Ltd. The Corporation as key management of parent company CSC Labor Union Director of the Corporation Ministry of Economic Affairs, R.O.C Director of the Corporation

b. Operating revenue

Account Items Related Parties Types Revenue from sales of goods Subsidiaries Others	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
		2022 $ 31,577,175 1,572,772 $ 33,149,947	2021 $ 32,728,117 2,165,139 $ 34,893,256

66 -

Sales to related parties were made at arm’s length and at terms applicable to similar transactions in the market except for terms of sales to CSCM, CSCI, CSVC and CSGT-VTM, in which the receivables were collected within 14 days after shipment, terms of sales to CSMQ, in which the receivables were collected within 60 days after shipment, and terms of sales to some subsidiaries without similar transactions with other unrelated parties.

c. Purchase of goods

Related Parties Types/Names Subsidiaries DSC Others Others	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
		2022 $ 20,842,445 16,998,983 123,542 $ 37,964,970	2021 $ 26,146,725 18,617,364 152,369 $ 44,916,458

Purchases from related parties were made at arm’s length and at terms applied to similar transactions in the market except for terms of purchases from some subsidiaries without similar transactions with other unrelated parties.

d. Receivables from related parties (not including loans to related parties)

Account Items Related Parties Types Notes and accounts receivable Subsidiaries The Corporation as key management of other related parties Others		December 31	December 31
		2022 $ 895,123 14,910 - $ 910,033	2021 $ 1,944,864 266,016 34,415 $ 2,245,295

No guarantee had been received for receivables from related parties. For the years ended December 31, 2022 and 2021, no impairment loss was recognized for receivables from related parties.

e. Payables to related parties (not including loans from related parties)

Related Parties Types Account Items /Names Accounts payable Subsidiaries CSE Others Others		December 31	December 31
		2022 $ 489,399 445,675 19,572 $ 954,646	2021 $ 2,228,477 1,045,744 23,882 $ 3,298,103

The outstanding accounts payable to related parties are unsecured.

67 -
f. Loans to related parties (recognized as other receivables - loans to related parties)

Related Parties Types/Names Subsidiaries CSAC SDMS KRTC CSRC		December 31	December 31
		2022 $ 2,060,000 2,000,000 1,000,000 900,000 $ 5,960,000	2021 $ 3,600,000 1,600,000 800,000 962,000 $ 6,962,000

The Corporation provided short-term loans to its subsidiaries, with the interest rate calculated at the latest 30-day average rate of the Corporation’s short-term loans in the same currencies from ordinary financial institutions. As of December 31, 2022 and 2021, the interest rate was 1.52%-1.63% p.a. and 0.37%-0.47% p.a., respectively.

Loans to the Corporation’s subsidiaries were unsecured loans with interest income of NT$51,352 thousand and NT$24,268 thousand for the years ended December 31, 2022 and 2021, respectively.

g. Loans from related parties (recognized as short-term borrowings and bank overdraft)

Related Parties Types/Names Subsidiaries CPDC CSMC CHS Others		December 31	December 31
		2022 $ 850,000 600,000 300,000 40,000 $ 1,790,000	2021 $ 1,600,000 - - 50,000 $ 1,650,000

The rate of loans from subsidiaries is calculated at the latest 30-day average rate of the Corporation’s short-term loans in the same currencies from ordinary financial institutions and adjusted based on the circumstances. As of December 31, 2022 and 2021, the interest rate was 1.53%-1.54% p.a. and 0.37 % p.a., respectively.

Loans from the Corporation’s subsidiaries were unsecured loans with interest expense of NT$16,428 thousand and NT$8,725 thousand for the years ended December 31, 2022 and 2021, respectively.

h. Other related parties transactions
1) The Corporation signed brokerage contract with its subsidiary DSC. For the years ended December 31, 2022 and 2021, the commission revenue was NT$396,416 thousand and NT$744,449 thousand, respectively.

The balances of consignment payable to related parties, which were included in other payables, were as follows:

Related Parties Types/Names DSC		December 31	December 31
		2022 $ 579,400	2021 $ 841,044

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2) Other revenue which pertained to services, processing of products, utilities, royalties and other services to related parties was recognized as operating revenue and non-operating income as follows:

Related Parties Types Subsidiaries The Corporation as key management of other related parties Other related parties Others	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
		2022 $ 1,692,383 477,591 180,006 4,595 $ 2,354,575	2021 $ 2,103,552 568,247 205,630 3,928 $ 2,881,357

3) Other expenditures paid to related parties which pertained to commissions for processing services, maintenance and repairs, construction, commissions for export and import services, etc. were recognized as operating costs, manufacturing expenses, operating expenses and non-operating expenses.

Related Parties Types Subsidiaries Others Capital expenditures Related Parties Types/Names Subsidiaries CEC CSMC Others	For the Year Ended December 31	For the Year Ended December 31	For the Year Ended December 31
	2022 2021 $ 10,676,372 $ 9,254,791 91,297 394,027 $ 10,767,669 $ 9,648,818 For the Year Ended December 31
		2022 $ 3,796,203 1,247,070 1,976,636 $ 7,019,909	2021 $ 4,259,793 2,339,414 1,203,597 $ 7,802,804

4) Capital expenditures

The balances of outsourced repair and construction payable (recognized as other payables) were as follows:

Related Parties Types/Names Subsidiaries CEC Others		December 31	December 31
		2022 $ 398,641 263,256 $ 661,897	2021 $ 447,533 321,399 $ 768,932

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5) As of December 31, 2022 and 2021, guarantees provided to the related parties for investment compliance were as follows:

Related Parties Types/Names Subsidiaries - ZN Amount endorsed Amount utilized The Corporation as key management of other related parties Amount endorsed Amount utilized Other related parties - FHC Amount endorsed Amount utilized		December 31	December 31
		2022 $ 7,156,210 (3,889,215) $ 3,266,995 $ 1,263,979 (603,325) $ 660,654 $ - - $ -	2021 $ 9,736,210 (1,850,591) $ 7,885,619 $ 1,267,752 (984,444) $ 283,308 $ 11,748,534 (11,748,534) $ -

i. Compensation of key management personnel

The remuneration of directors and other members of key management personnel was as follows:

Short-term employee benefits Post-employment benefits	For the Year Ended	For the Year Ended	December 31
		2022 $ 107,115 1,175 $ 108,290	2021 $ 223,686 1,132 $ 224,818

30. ASSETS PLEDGED AS COLLATERAL OR SECURITY

The Corporation’s assets mortgaged or pledged as collateral for bank overdraft and ZN’s long-term borrowings and financing amount were as follows:

Other financial assets - time deposits Investments accounted for using the equity method - shares		December 31	December 31
		2022 $ 5,850,000 3,889,215 $ 9,739,215	2021 $ 5,850,000 3,487,591 $ 9,337,591

The shares of the Subsidiaries CPHC and ZN was mortgaged or pledged as collateral for their long-term borrowings and financing amount.

70 -

31. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED COMMITMENTS

Significant commitments and contingencies of the Corporation as of December 31, 2022 were as follows:

a. The Corporation provided letters of credits for NT$1.5 billion guaranteed by financial institutions for several construction, lease contracts and payment.
b. Unused letters of credit for importation of materials and machinery amounted to NT$4.9 billion.
c. Property purchase and construction contracts for NT$35.1 billion were signed but not yet recorded.
d. The Corporation entered into raw material purchase contracts with suppliers in Australia, Brazil, Canada, China, Japan, Philippines, Vietnam, Indonesia and domestic companies with contract terms of 1 to 5 years. Contracted annual purchases of 6,800,000 metric tons of coal, 16,280,000 metric tons of iron ore, and 2,110,000 metric tons of limestone are at prices negotiable with the counterparties. Purchase commitments as of December 31, 2022 were US$4.1 billion (including 4,600,000 metric tons of coal, 27,770,000 metric tons of iron ore, and 460,000 metric tons of limestone).
e. The amount utilized for guarantees provided to related parties and investees of co-investment for procurement and investment compliances was NT$4,492,540 thousand.

32. SIGNIFICANT ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES

The following information was aggregated by the foreign currencies other than functional currencies of the Corporation and the exchange rates between foreign currencies and respective functional currencies were disclosed. The significant assets and liabilities denominated in foreign currencies were as follows:

					Carrying
					Amount
		Foreign		(In Thousands
	Currencies			of	New Taiwan
	(In	Thousands)	Exchange Rate		Dollars)
December 31, 2022
Monetary foreign currency assets
USD	$	188,871	30.7100	$	5,800,220
Non-monetary foreign currency assets
Financial assets at fair value through other
comprehensive income
USD		828,641	30.7100		25,447,550
JPY		6,422,000	0.2324		1,492,472
MYR		377,535	6.6990		2,529,105
Investments accounted for using the equity
method
USD		404,469	30.7100		12,417,521
AUD		995,301	20.8300		20,732,125
INR		3,734,391	0.3710		1,384,769
Monetary foreign currency liabilities
USD		149,425	30.7100		4,588,842
JPY		6,113,685	0.2324		1,420,820

71 -

					Carrying
					Amount
		Foreign		(In Thousands
	Currencies			of	New Taiwan
	(In	Thousands)	Exchange Rate		Dollars)
December 31, 2021
Monetary foreign currency assets
USD	$	134,046	27.6800	$	3,710,297
Non-monetary foreign currency assets
Financial assets at fair value through other
comprehensive income
USD		938,782	27.6800		25,985,491
JPY		6,112,000	0.2405		1,469,936
MYR		191,128	6.3550		1,214,617
Investments accounted for using the equity
method
USD		441,991	27.6800		11,983,430
AUD		1,034,551	20.0800		20,773,791
INR		3,697,092	0.3710		1,371,621
Monetary foreign currency liabilities
USD		225,736	27.6800		6,248,362
JPY		5,423,537	0.2405		1,304,361

It is impractical to disclose net foreign exchange gains and losses by each significant foreign currency due to the variety of the foreign currency transactions and functional currencies of each entity. Please refer to Note 24 for information relating to net foreign exchange gains and losses.

33. SEPARATELY DISCLOSED ITEMS

a. Information about significant transactions and b. investees:
1) Financing provided to others (Table 1)
2) Endorsements/guarantees provided (Table 2)
3) Marketable securities held (excluding investments in subsidiaries and associates) (Table 3)
4) Marketable securities acquired and disposed of at costs or prices of at least NT$300 million or 20% of the paid-in capital (Table 4)
5) Acquisition of individual real estate at costs of at least NT$300 million or 20% of the paid-in capital (Table 5)
6) Disposal of individual real estate at prices of at least NT$300 million or 20% of the paid-in capital (Table 6)
7) Total purchases from or sales to related parties amounting to at least NT$100 million or 20% of the paid-in capital (Table 7)
72 -
8) Receivables from related parties amounting to at least NT$100 million or 20% of the paid-in capital (Table 8)
9) Trading in derivative instruments (Note 28)
10) Information on investees (Table 9)
c. Information on investments in mainland China
1) Information on any investee company in mainland China, showing the name, principal business activities, paid-in capital, method of investment, inward and outward remittance of funds, ownership percentage, net income (loss) of the investee, investment gain (loss), carrying amount of the investment at the end of the period, repatriations of investment income, and limit on the amount of investment in the mainland China area (Table 10)
2) Any of the following significant transactions with investee companies in mainland China, either directly or indirectly through a third party, and their prices and payment terms:
- a) The amount and percentage of purchases and the balance and percentage of the related payables at the end of the period (Table 7)
- b) The amount and percentage of sales and the balance and percentage of the related receivables at the end of the period (Table 7)
- c) The amount of property transactions and the amount of the resultant gains or losses (None)
- d) The balance of negotiable instrument endorsements or guarantees or pledges of collateral at the end of the period and the purposes (Table 2)
- e) The highest balance, the end of period balance and the interest rate range with respect to financing of funds (Table 1)
- f) Other transactions that have a material effect on the profit or loss for the year or on the financial position, such as the rendering or receipt of services (None)
d. Information of major shareholders: List all shareholders with a stake of 5 percent or greater in shareholding percentage and the number of shares. (Table 11)

34. SEGMENT INFORMATION

Disclosure of the segment information in standalone financial statements is waived.

73 -

TABLE 1

CHINA STEEL CORPORATION AND SUBSIDIARIES

FINANCING PROVIDED TO OTHERS FOR THE PERIOD ENDED DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

No.	Financing Company	Counter-party	Financial Statement Account	Related Party	Maximum Balance for the Period	Ending Balance	Amount Actually Drawn	Interest Rate	Nature for Financing (Note 1)	Transaction Amounts	Reason for Financing	Allowance for Bad Debt	Col	lateral	Financing Limits for Each Borrowing Company	Financing Company’s Total Financing Amount Limits	Note
													Item	Value
0 0 0 0 0 0 1 2 3 4 5 6 7 8 9 10 11	China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation United Steel Investment Pte Ltd Ever Wealthy International Corporation Thintech Materials Technology Co., Ltd. C.S.Aluminium Corporation China Prosperity Development Corporation China Steel Security Corporation Betacera Inc. Dragon Steel Corporation China Steel Machinery Corporation China Steel Express Corporation Chung Hung Steel Corporation	Dragon Steel Corporation Sing Da Marine Structure Corporation China Steel Resources Corporation C.S.Aluminium Corporation Kaohsiung Rapid Transit Corporation Chung Hung Steel Corporation Chungkang Steel Structure (Cambodia) Co., Ltd. Changzhou China Steel New Materials Technology Co., Ltd. Taicang Thintech Materials Co., Ltd. Ningbo Huayang Aluminium-Tech Co., Ltd. China Steel Corporation China Steel Corporation Betacera (Su Zhou) Co., Ltd. China Steel Corporation China Steel Corporation CSE Transport Corporation China Steel Corporation	Other receivables Other receivables Other receivables Other receivables Other receivables Other receivables Other receivables Other receivables Other receivables Other receivables Other receivables Other receivables Other receivables Other receivables Other receivables Other receivables Other receivables	Yes Yes Yes Yes Yes Yes No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes	600,000 2,500,000 1,050,000 5,200,000 1,300,000 2,400,000 17,252 163,288 108,415 579,870 1,600,000 50,000 63,500 2,000,000 600,000 322,150 300,000	- 2,500,000 1,000,000 4,400,000 1,300,000 2,200,000 - 82,694 106,056 552,780 850,000 40,000 - 2,000,000 600,000 307,100 300,000	- 2,000,000 900,000 2,060,000 1,000,000 - - 82,694 - - 850,000 40,000 - - 600,000 - 300,000	N/A 0.35%-1.58% 0.45%-1.68% 0.36%-1.68% 0.36%-1.53% N/A 5.80% 1.00%-2.40% 2.53%-2.80% N/A 0.37%-1.54% 0.35%-1.53% N/A 0.40%-0.87% 0.74%-1.53% 2.34%-4.05% 1.04%-1.53%	2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2	- - - - - - - - - - - - - - - - -	Operating capital Operating capital Operating capital Operating capital Operating capital Operating capital Operating capital Operating capital Operating capital Repayments of bank borrowings Operating capital Operating capital Operating capital Operating capital Operating capital Operating capital Operating capital	- - - - - - - - - - - - - - - - -	- - - - - - - - - - - - - - - - -	- - - - - - - - - - - - - - - - -	31,990,222 31,990,222 31,990,222 31,990,222 31,990,222 31,990,222 50,000 333,744 358,258 904,257 2,438,316 147,528 205,420 10,169,676 814,482 1,401,836 1,706,243	63,980,445 63,980,445 63,980,445 63,980,445 63,980,445 63,980,445 58,951 500,617 477,678 1,808,515 2,438,316 196,704 410,841 20,339,352 814,482 2,803,672 6,824,974	Note2 Note2 Note2 Note2 Note2 Note2 Note3 Note4 Note5 Note6 Note7 Note8 Note9 Note10 Note11 Note12 Note13

Note 1: The nature for financing is as follows:

1) Business relationship
2) The need for short-term financing
74 -
Note 2: According to “The Process of Financing Others” established by the Corporation, the total available amount for lending to others and the total amount for lending to a company shall not exceed 20% and 10% of the net worth of the Corporation, respectively.
Note 3: According to “The Process of Financing Others” established by United Steel Investment Pte Ltd., the total available amount for lending to others shall not exceed 40% of the net worth of the company; for short-term financing needs, the total amount for lending to a company shall not exceed NT$50,000 thousand; however, its wholly-owned subsidiary is free from these limits. Except for the aforementioned, the total available amount for lending to others shall not exceed 40% of the net worth of United Steel Investment Pte Ltd.
Note 4: According to “The Process of Financing Others” established by Ever Wealthy International Corporation, the total available amount for lending to others and the total amount for lending to a company shall not exceed 30% and 20% of the net worth of Ever Wealthy International Corporation, respectively; the financing limit amount for parent company shall not exceed 30% of the net worth of the company.
Note 5: According to “The Process of Financing Others” established by Thintech Materials Technology Co., Ltd., the total available amount for lending to others and the total amount for lending to a company shall not exceed 40% and 30% of the net worth of Thintech Materials Technology Co., Ltd., respectively.
Note 6: According to “The Process of Financing Others” established by C.S.Aluminium Corporation, the total available amount for lending to others and the total amount for lending to a company shall not exceed 20% and 10% of the net worth of C.S.Aluminium Corporation, respectively.
Note 7: According to “The Process of Financing Others” established by China Prosperity Development Corporation, the total available amount for lending to others and the total amount for lending to a company both shall not exceed 40% of the net worth of China Prosperity Development Corporation.
Note 8: According to “The Process of Financing Others” established by China Steel Security Corporation, the total available amount for lending to others and the total amount for lending to a company shall not exceed 40% and 30% of the net worth of China Steel Security Corporation, respectively.
Note 9: According to “The Process of Financing Others” established by Betacera Inc., the total available amount for lending to others and the total amount for lending to a company shall not exceed 20% and 10% of the net worth of Betacera Inc., respectively.
Note 10: According to “The Process of Financing Others” established by Dragon Steel Corporation, the total available amount for lending to others and the total amount for lending to a company shall not exceed 20% and 10% of the net worth of Dragon Steel Corporation, respectively.
Note 11: According to “The Process of Financing Others” established by China Steel Machinery Corporation, the total available amount for lending to others and the total amount for lending to a company both shall not exceed 40% of the net worth of China Steel Machinery Corporation.
Note 12: According to “The Process of Financing Others” established by China Steel Express Corporation, the total available amount for lending to others and the total amount for lending to a company shall not exceed 20% and 10% of the net worth of China Steel Express Corporation, respectively.
Note 13: According to “The Process of Financing Others” established by Chung Hung Steel Corporation, the total available amount for lending to others and the total amount for lending to a company shall not exceed 40% and 10% of the net worth of Chung Hung Steel Corporation, respectively.
75 -

TABLE 2

CHINA STEEL CORPORATION AND SUBSIDIARIES

ENDORSEMENTS/GUARANTEES PROVIDED FOR THE PERIOD ENDED DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

NO.	Endorsement/Guarantee Provider	Endorse	e/Guarantee	Limits on Endorsement/ Guarantee Amount Provided to Each Guaranteed Party	Maximum Balance for the Period	Ending Balance	Amount Actually Drawn	Amount of Endorsement/ Guarantee Collateralized by Properties	Ratio of Accumulated Endorsement/ Guarantee to Net Equity per Latest Financial Statements (%)	Maximum Endorsement/ Guarantee Amount Allowable	Guarantee Provided by Parent Company	Guarantee Provided by Subsidiary	Guarantee Provided to Subsidiaries in Mainland China	Note
		Name	Nature of Relationship (Note 1)
0 0 0 1 2 3 4 4 5 5 6 7	China Steel Corporation China Steel Corporation China Steel Corporation China Steel Structure Co., Ltd. United Steel Engineering & Construction Corporation Thintech Materials Technology Co., Ltd. InfoChamp Systems Corporation InfoChamp Systems Corporation Wuhan InfoChamp I.T. Co., Ltd. Wuhan InfoChamp I.T. Co., Ltd. China Steel Express Corporation China Steel Power Holding Corporation	China Steel Power Corporation Formosa Ha Tinh (Cayman) Limited Sakura Ferroalloys Sdn. Bhd. Chungkang Steel Structure (Cambodia) Co., Ltd. China Steel Structure Co., Ltd. Taicang Thintech Materials Co., Ltd. Wuhan InfoChamp I.T. Co., Ltd. Tang Steel International Engineering Technology Corp. InfoChamp Systems Corporation Tang Steel International Engineering Technology Corp. CSE Transport Corporation China Steel Power Corporation	2 6 6 6 3 2 2 5 3 5 2 2	95,970,668 95,970,668 95,970,668 1,751,056 21,682,341 477,678 268,057 268,057 170,421 170,421 4,205,508 38,129,560	9,736,210 10,387,177 1,323,204 141,628 71,300 273,828 48,146 42,061 41,552 42,061 2,642,965 7,393,000	7,156,210 - 1,263,979 - - 261,035 47,099 41,146 40,648 41,146 2,566,210 7,393,000	3,889,215 - 603,325 - - 145,427 47,099 41,146 40,648 41,146 1,566,210 7,393,000	3,889,215 - - - - - - - - - - 7,393,000	2 - - - - 22 5 5 119 121 18 97	127,960,890 127,960,890 127,960,890 9,981,021 21,682,341 477,678 446,762 446,762 204,505 204,505 5,607,344 38,129,560	Y N N N N N N N N N N N	N N N N N N N N N N N N	N N N N N Y Y Y N Y N N	Notes 2 and 4 Note 4 Note 4 Note 5 Notes 3 and 6 Note 7 Note 8 Note 8 Note 9 Note 9 Note 10 Note 11

Note 1: Relationships between the endorser/guarantor and the party being endorsed/guaranteed are as follows:

1) A company that the Corporation has business relationship with.
2) The Corporation owns directly or indirectly over 50% ownership of the investee company.
3) The company that owns directly or indirectly hold over 50% ownership of the Corporation.
4) In between companies that were held over 90% of voting shares directly or indirectly by an entity.
5) The Corporation is required to provide guarantees or endorsements for the construction project based on the construction contract.
6) Shareholder of the investee provides endorsements/guarantees to the company in proportion to their shareholding percentages.
7) According to Consumer Protection Act, companies in the same industry enter into collateral performance guarantees for pre-construction home sales agreements.
76 -

Note 2: Endorsements and guarantees provided by the Corporation to its subsidiaries.

Note 3: Performance guarantee regarding the construction contract.

Note 4: According to “The Process of making endorsements/quadrants” established by the Corporation, the ceilings on the amounts for any single entity or the aggregate amounts to the entities shall not exceed 30% and 40% of the net worth of the Corporation, respectively.
Note 5: According to “The Process of making endorsements/quadrants” established by China Steel Structure Co., Ltd., the ceilings on the amounts for any single entity or the aggregate amounts to the entities shall not exceed one third and 190% of the net worth of China Steel Structure Co., Ltd. However, the ceilings on the amounts to United Steel Engineering & Consumption Corporation shall not exceed 190% of the net worth of China Steel Structure Co., Ltd.
Note 6: According to “The Process of making endorsements/quadrants” established by United Steel Engineering & Construction Corporation, the ceilings on the amounts for any single entity or the aggregate amounts to the entities shall not exceed one third and 1500% of the net worth of United Steel Engineering & Construction Corporation. However, the ceilings on the amounts to China Steel Structure Co., Ltd. shall not exceed 1500% of the net worth of United Steel Engineering & Construction Corporation.
Note 7: According to “The Process of making endorsements/quadrants” established by Thintech Materials Technology Co., Ltd., both the ceilings on the amounts for any single entity or the aggregate amounts to the entities shall not exceed 40% of the net worth of Thintech Materials Technology Co., Ltd..
Note 8: According to “The Process of making endorsements/quadrants” established by InfoChamp Systems Corporation, the ceilings on the amounts for any single entity or the aggregate amounts to the entities shall not exceed 30% and 50% of the net worth of InfoChamp Systems Corporation, respectively.
Note 9: According to “The Process of making endorsements/quadrants” established by Wuhan InfoChamp I.T. Co., Ltd., the ceilings on the amounts for any single entity or the aggregate amounts to the entities shall not exceed 500% and 600% of the net worth of Wuhan InfoChamp I.T. Co., Ltd., respectively.
Note 10: According to “The Process of making endorsements/quadrants” established by China Steel Express Corporation, the ceilings on the amounts for any single entity or the aggregate amounts to the entities shall not exceed 30% and 40% of the net worth of China Steel Express Corporation, respectively.
Note 11: According to “The Process of making endorsements/quadrants” established by China Steel Power Holding Corporation, both the ceilings on the amounts for any single entity or the aggregate amounts to the entities shall not exceed 500% of the net worth of China Steel Power Holding Corporation.
77 -

TABLE 3

CHINA STEEL CORPORATION AND SUBSIDIARIES

MARKETABLE SECURITIES HELD DECEMBER 31, 2022 (Amounts in Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	Taiwan High Speed Rail Corporation Maruichi Steel Tube Ltd. TANG ENG IRON WORKS CO., LTD. O-Bank Co., Ltd. CSN Mineracao S.A. RECHI PRECISION CO., LTD. Yodogawa Steel Works, Ltd. CSBC Corporation,Taiwan Formosa Ha Tinh (Cayman) Limited Sakura Ferroalloys Sdn. Bhd. CDIB & Partners Investment Holding Corporation Taiwan International Windpower Training Corporation Ltd. CDIB BioScience Ventures I, Inc.	The held company as its director No relation The held company as its director No relation No relation The held company as its director No relation No relation No relation The held company as its director No relation The held company as its director The held company as its director	Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent	242,148,000 2,000,000 29,860,691 103,847,695 22,366,860 23,002,022 400,000 7,751,346 1,111,418,177 207,290,000 54,000,000 1,500,000 1,063,534	6,961,755 1,256,354 948,077 871,282 531,444 370,333 236,118 151,151 24,916,106 1,987,832 694,780 15,357 5,651	4 2 9 3 - 5 1 1 20 19 5 15 5	6,961,755 1,256,354 948,077 871,282 531,444 370,333 236,118 151,151 24,916,106 1,987,832 694,780 15,357 5,651

78 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation Chung Hung Steel Corporation Chung Hung Steel Corporation Chung Hung Steel Corporation Chung Hung Steel Corporation Hung Kao Investment Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation Ever Wealthy International Corporation	Common stock Common stock Preferred stock Preferred stock Common stock Common stock Common stock Common stock Common stock Common stock Preferred stock Mutual fund Mutual fund Mutual fund Mutual fund Convertible bond Common stock	PHALANX BIOTECH GROUP, INC. DB Metal Co., Ltd. East Asia United Steel Corporation (A) Sakura Ferroalloys Sdn. Bhd. Shouh Hwang Enterprise Co., Ltd. China Steel Corporation TAIWAN VES-POWER CO., LTD. PACIFIC HARBOUR STEVEDORING CORP. China Steel Corporation China Steel Corporation China Steel Corporation Cathay US ESG Fund TWD Allianz Global Investors Taiwan Money Market Fund Jih Sun Money Market Fund KGI Victory Money Market Fund STANLN 4.3 02/19/27 TA CHEN STAINLESS PIPE CO., LTD.	No relation No relation The held company as its director The held company as its director No relation Parent company No relation The held company as its supervisor The ultimate parent company Parent company Parent company No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets at fair value through other comprehensive income - noncurrent Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets at fair value through other comprehensive income - current Financial assets mandatorily classified as at fair value through profit or loss -current (including measurement)	332,881 1,500,000 3,333 56,443,634 730,000 33,109,239 134,167 250,000 1,003,980 2,556,915 229,000 751,399 2,355,953 1,990,829 2,552,171 - 404,057	2,556 - 712,241 541,273 - 986,655 34,733 6,430 29,919 76,196 10,591 6,958 30,004 30,003 30,003 14,767 17,132	1 1 10 19 15 - 2 5 - - - - - - - - -	2,556 - 712,241 541,273 - 986,655 34,733 6,430 29,919 76,196 10,591 6,958 30,004 30,003 30,003 14,767 17,132

79 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	Mega Financial Holding Co., Ltd. CATHAY FINANCIAL HOLDING CO., LTD. TAICHUNG COMMERCIAL BANK CO., LTD. TAISHIN FINANCIAL HOLDING CO., LTD. Nishoku Technology Inc. China Steel Chemical Corporation China Steel Corporation YEONG LONG TECHNOLOGIES CO., LTD. TCC RECYCLE ENERGY TECHNOLOGY COMPANY National Kaohsiung First University of Science and Technology Investment Corporation Harbinger Venture III Capital Corp. Asia Hepato Gene CO. JU-KAO ENGINEERING CO., LTD JIH SUN International Leasing & Finance Co., Ltd. EVERGREEN AVIATION TECHNOLOGIES CORPORATION	No relation No relation No relation No relation No relation Parent company The ultimate parent company No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent	133,425 62,953 119,663 100,387 7,000 4,753,537 4,226,265 1,540,000 322,484 300,000 1,000 133,300 2,157,642 1,000,000 800,000	4,050 2,518 1,532 1,516 639 501,498 125,943 51,863 3,057 2,231 22 - 27,810 31,000 50,592	- - - - - - - 4 - 9 1 2 7 1 -	4,050 2,518 1,532 1,516 639 501,498 125,943 51,863 3,057 2,231 22 - 27,810 31,000 50,592

80 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation China Ecotek Corporation	Preferred stock Preferred stock Preferred stock Mutual fund Mutual fund Mutual fund Mutual fund Mutual fund Mutual fund Mutual fund Mutual fund Mutual fund Mutual fund Mutual fund Mutual fund Mutual fund Corporate bond Common stock	Fubon Financial Holding Co., Ltd. Ltd. Preferred Shares C TAISHIN FINANCIAL HOLDING CO., LTD. Class E Preferred Shares`Ⅱ` Cathay Financial Holding Co., Ltd.(B) FSITC Global Utilities and Infrastructure Fund Jih Sun Vietnam Opportunity Fund (NTD) Jih Sun Global Smart Car Fund (TWD A) UPAMC Global AIoT Fund Yuanta Global Agribusiness Fund Taishin High Dividend Yield Balanced Fund KGI Taiwan Premium Assets Fund SinoPac TWD Money Market Fund Jih Sun Money Market Fund Prudential Financial Money Market Fund Taishin North American Income Trust Fund TWD A Taishin 1699 Money Market Fund Jih Sun Rising Dragon Fund CNH Bond Offering by ITNL Offshore Pte Limited LOCUS CELL CO., LTD.	No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets at amortized cost - noncurrent Financial assets mandatorily classified as at fair value through profit or loss -current (including measurement)	175,000 164,139 12,540 1,135,072 1,000,000 321,750 250,473 142,857 99,544 791,028 1,772,718 996,678 623,154 465,040 2,183,311 500,000 - 3,305,000	9,643 7,780 685 15,528 7,120 3,890 3,441 3,024 4,709 8,700 25,039 15,021 10,012 12,100 30,054 5,037 - 94,311	- - - - - - - - - - - - - - - - - 2	9,643 7,780 685 15,528 7,120 3,890 3,441 3,024 4,709 8,700 25,039 15,021 10,012 12,100 30,054 5,037 - 94,311

81 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
China Ecotek Corporation China Ecotek Corporation China Ecotek Corporation China Ecotek Corporation China Ecotek Corporation China Steel Structure Co., Ltd. United Steel Engineering & Construction Corporation CHC Resources Corporation CHC Resources Corporation Union Steel Development Corporation Union Steel Development Corporation China Steel Security Corporation China Steel Security Corporation China Steel Security Corporation China Steel Security Corporation China Steel Security Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Certificate of entitlement Common stock Common stock Common stock Mutual fund Mutual fund	GREEN SHEPHERD CORPORATION YEONG LONG TECHNOLOGIES CO., LTD. ECOTEK INDUSTRIAL AQUACULTURE CORP. HSIN YU ENERGY DEVELOPMENT CO., LTD. Asia Pacific Energy Development Co., Ltd. China Steel Corporation China Steel Corporation China Steel Corporation Feng Sheng Enterprise Corporation China Steel Corporation Shanghai Bao Shun Steel Corporation China Steel Corporation Taiwan Secom Corporation Taiwan Shin Kong Security Corporation Yuanta De-Li Money Market Fund Union Money Market Fund	No relation No relation The held company as its director No relation The held company as its director Parent company The ultimate parent company Parent company No relation The ultimate parent company The held company as its director Parent company No relation No relation No relation No relation	Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss -current (including measurement)	784,000 440,000 74,681 391,249 2,212,590 6,936,878 3,745,446 9,201,806 932,053 423,849 - 2,349,975 2,223 3,614 604,317 745,695	16,100 15,507 600 - 102,782 206,719 111,614 274,214 15,388 12,631 17,314 70,029 222 140 10,013 10,004	6 1 19 - 11 - - - 2 - 19 - - - - -	16,100 15,507 600 - 102,782 206,719 111,614 274,214 15,388 12,631 17,314 70,029 222 140 10,013 10,004

82 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
China Steel Security Corporation China Steel Management Consulting Corporation China Prosperity Development Corporation China Prosperity Development Corporation China Prosperity Development Corporation China Prosperity Development Corporation China Prosperity Development Corporation China Prosperity Development Corporation China Prosperity Development Corporation HIMAG Magnetic Corporation HIMAG Magnetic Corporation Eminent Venture Capital Corporation Eminent Venture Capital Corporation Eminent Venture Capital Corporation Eminent Venture Capital Corporation Eminent Venture Capital Corporation	Mutual fund Mutual fund Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Preferred stock	UPAMC James Bond Money Market Capital Money Market Fund HUA NAN FINANCIAL HOLDINGS CO.,LTD. China Steel Corporation Mega Financial Holding Co., Ltd. Taiwan Cooperative Financial Holding Co., Ltd. iPASS Corporation QUN XIN PROPERITES CO., LTD. HI SCENE WORLD ENTERPRISE CO., LTD. China Steel Corporation Superrite Electronics Co., Ltd. Asia Best Healthcare Co., Ltd. StemCyte International, Ltd. Cellerant Therapeutics, Inc. Aerami Therapeutis Holdings, Inc. Nereus Pharmaceuticals, Inc.	No relation No relation No relation Parent company No relation No relation No relation The held company as its director No relation Parent company No relation No relation No relation No relation No relation No relation	Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement)	590,260 348,056 5,066,509 952,979 475,043 248,315 2,528,218 2,400,000 386,535 325,505 600,000 4,530 1,080,647 43,900 166,394 1,895,531	10,003 5,703 113,743 28,399 14,418 6,456 17,875 6,840 3,892 9,700 11,201 19,799 12,793 - - 7,509	- - - - - - 2 8 - - 2 1 1 - - -	10,003 5,703 113,743 28,399 14,418 6,456 17,875 6,840 3,892 9,700 11,201 19,799 12,793 - - 7,509

83 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Eminent Venture Capital Corporation Eminent Venture Capital Corporation Eminent Venture Capital Corporation Eminent Venture Capital Corporation InfoChamp Systems Corporation InfoChamp Systems Corporation InfoChamp Systems Corporation InfoChamp Systems Corporation InfoChamp Systems Corporation InfoChamp Systems Corporation InfoChamp Systems Corporation InfoChamp Systems Corporation InfoChamp Systems Corporation InfoChamp Systems Corporation InfoChamp Systems Corporation InfoChamp Systems Corporation Kaohsiung Rapid Transit Corporation	Preferred stock Preferred stock Mutual fund Mutual fund Common stock Common stock Common stock Common stock Common stock Common stock Mutual fund Mutual fund Mutual fund Mutual fund Mutual fund Mutual fund Common stock	Bayhill Therapeutics, Inc. AndroScience Corp. Jih Sun Money Market Fund Franklin Templeton Sinoam Money Market Fund China Steel Corporation Lion Corporation Berhad LOCUS CELL CO., LTD. iPASS Corporation TRICORNTECH CORPORATION GEMINI OPEN CLOUD COMPUTING INC. Jih Sun Money Market Fund Yuanta De-Li Money Market Fund Fubon Chi-Hsiang Money Market Fund SinoPac Money Market Fund Franklin Templeton Sinoam Money Market Fund Taishin 1699 Money Market Fund iPASS Corporation	No relation No relation No relation No relation Parent company No relation No relation The held company as its director No relation No relation No relation No relation No relation No relation No relation No relation The held company as its director	Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets at fair value through other comprehensive income - noncurrent	1,404,494 2,111,111 6,694,599 1,640,122 3,834,338 58 2,000,000 3,828,188 726,885 24,909 1,995,012 1,811,091 1,886,187 1,419,154 2,859,403 1,456,739 9,912,843	- - 100,893 17,226 114,263 - 57,072 27,080 8,564 - 30,066 30,009 30,008 20,045 30,031 20,052 70,121	2 7 - - - - 1 3 1 5 - - - - - - 9	- - 100,893 17,226 114,263 - 57,072 27,080 8,564 - 30,066 30,009 30,008 20,045 30,031 20,052 70,121

84 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Dragon Steel Corporation C.S.Aluminium Corporation China Steel Express Corporation China Steel Express Corporation China Steel Express Corporation Transglory Investment Corporation Transglory Investment Corporation Transglory Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Mutual fund Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	Union Optronics Corp. China Steel Corporation China Steel Corporation CDIB & Partners Investment Holding Corporation Huiyang Private Equity Fund Co., Ltd. TANG ENG IRON WORKS CO., LTD. China Steel Corporation Jih Sun Money Market Fund BRIGHTON-BEST INTERNATIONAL (TAIWAN) INC. TA CHEN STAINLESS PIPE CO., LTD. TRANSCOM, INC. GLOBAL TEK FABRICATION CO., LTD. FUSHENG PRECISION CO., LTD. LUXNET CORPORATION FARCENT ENTERPRISE CO., LTD. QST INTERNATIONAL CORP. SYMTEK AUTOMATION ASIA CO., LTD.	No relation Parent company Parent company No relation No relation No relation The ultimate parent company No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - noncurrent Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current	103,895 4,431,944 8,801,555 3,240,000 35,000 51,000 256,765,331 13,977,374 21,829,242 9,084,850 979,638 2,431,620 513,000 2,339,969 1,660,032 1,333,482 877,610	- 132,072 262,286 41,687 2,294 1,619 7,651,607 210,650 827,328 385,198 136,170 124,013 107,987 93,130 91,966 75,075 74,597	- - - - 1 - 2 - - - - - - - - - -	- 132,072 262,286 41,687 2,294 1,619 7,651,607 210,650 827,328 385,198 136,170 124,013 107,987 93,130 91,966 75,075 74,597	Note 1

85 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	TBI MOTION TECHNOLOGY CO., LTD. HOTAI FINANCE CO., LTD. CHENFULL PRECISION CO., LTD JUFAN INDUSTRIAL CO., LTD. I JANG INDUSTRIAL CO., LTD. ULTRA CHIP, INC. BORA PHARMACEUTICALS CO., LTD. JDV CONTROL VALVES CO., LTD. Capital Futures Corporation AMPAK TECHNOLOGY INC. CHC Healthcare Group SHEH FUNG SCREWS CO., LTD. ASIA TECH IMAGE INC. TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED San Neng Group Holdings Co., Ltd. JETWELL COMPUTER CO., LTD. ARDENTEC CORPORATION	No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current	1,975,000 692,000 789,287 1,260,000 1,012,000 697,430 124,348 1,050,000 1,364,000 629,000 969,000 739,159 671,000 80,000 881,000 614,997 616,000	71,989 70,584 57,934 56,007 55,660 53,632 51,542 51,030 50,127 44,722 42,200 38,288 38,247 35,880 32,685 31,857 30,554	- - - - - - - - - - - - - - - - -	71,989 70,584 57,934 56,007 55,660 53,632 51,542 51,030 50,127 44,722 42,200 38,288 38,247 35,880 32,685 31,857 30,554

86 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	SYNNEX TECHNOLOGY INTERNATIONAL CORPORATION BRIGHTEK OPTOELECTRONIC CO., LTD. GREENFILTEC LTD. Yonggu Group Inc. HERAN CO., LTD. FORMOSA ADVANCED TECHNOLOGIES CO., LTD. LONGWELL COMPANY TAIWAN CHELIC CO., LTD. ACTER GROUP CORPORATION LIMITED GROUP UP INDUSTRIAL CO., LTD. ZHEN YU HARDWARE CO., LTD. GSD Technologies Co., Ltd. Taiwan Branch (Cayman Islands) EVERGREEN STEEL CORPORATION I SHENG ELECTRIC WIRE & CABLE CO., LTD. NOVA TECHNOLOGY CORP. FENG HSIN STEEL CO., LTD. WENDELL INDUSTRIAL CO., LTD.	No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current	500,000 1,093,000 306,482 545,319 224,000 562,000 377,000 380,000 180,000 186,000 181,000 306,453 280,000 331,000 150,000 206,000 155,000	29,600 28,965 28,258 25,903 23,744 21,525 19,980 18,886 18,270 18,265 16,670 16,242 14,448 13,968 13,275 13,122 13,082	- - - - - - - - - - - - - - - - -	29,600 28,965 28,258 25,903 23,744 21,525 19,980 18,886 18,270 18,265 16,670 16,242 14,448 13,968 13,275 13,122 13,082

87 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	EMERGING DISPLAY TECHNOLOGIES CORP. CHUNG-HSIN ELECTRIC & MACHINERY MFG. CORP. PEGAVISION CORPORATION ADVANCED INTERNATIONAL MULTITECH CO.,LTD. ETERNAL MATERIALS CO., LTD. UNICTRON TECHNOLOGIES CORPORATION WAH LEE INDUSTRIAL CORP. KWONG LUNG ENTERPRISE CO.,LTD. AMIDA TECHNOLOGY INC. JESS-LINK PRODUCTS CO., LTD. CHANG WAH TECHNOLOGY CO., LTD. CHIEN SHING HARBOUR SERVICE CO., LTD. Weblink International Inc. TAIWAN HON CHUAN ENTERPRISE CO., LTD. SHEH KAI PRECISION CO., LTD. HIGHLIGHT TECH CORPORATION LAUNCH TECHNOLOGIES CO., LTD.	No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current	630,000 190,000 30,000 130,000 370,050 174,000 127,000 200,000 179,000 227,000 300,000 197,063 187,000 73,000 143,000 80,000 50,000	12,789 12,768 12,720 12,337 11,564 11,500 10,643 10,480 9,756 9,080 8,910 7,479 7,274 6,351 6,221 3,960 3,800	- - - - - - - - - - - - - - - - -	12,789 12,768 12,720 12,337 11,564 11,500 10,643 10,480 9,756 9,080 8,910 7,479 7,274 6,351 6,221 3,960 3,800

88 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	BRILLIAN NETWORK & AUTOMATION INTEGRATED SYSTEM CO., LTD. ADIMMUNE CORPORATION ARCADYAN TECHNOLOGY CORPORATION ELITE SEMICONDUCTOR MICROELECTRONICS TECHNOLOGY INC. BRIGHTEN OPTIX CORPORATION Sincere Security Corp. Ltd. TAIWAN PRINTED CIRCUIT BOARD TECHVEST CO., LTD. QUALIPOLY CHEMICAL CORPORATION NAK SEALING TECHNOLOGIES CORPORATION Rentian Technology Holdings Ltd. AltruBio Inc. TAIWAN IMPLANT TECHNOLOGY CO., LTD. GEMINI OPEN CLOUD COMPUTING INC. KING POINT ENTERPRISE CO., LTD. JIH SUN International Leasing & Finance Co., Ltd. YEONG LONG TECHNOLOGIES CO., LTD.	No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent	41,000 70,000 25,000 36,000 10,000 30,000 35,000 8,000 1,000 18,350 500,000 1,678,788 24,909 3,500,000 2,500,000 1,980,000	3,768 2,492 2,393 2,340 1,865 1,281 1,267 271 106 - - - - 145,985 77,500 69,782	- - - - - - - - - - - 10 5 9 1 5	3,768 2,492 2,393 2,340 1,865 1,281 1,267 271 106 - - - - 145,985 77,500 69,782

89 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	CYBERSOFT DIGITAL SERVICES CORPORATION Innotech Logistics Co., Ltd. Chien Tung Harbour Service Co., Ltd. Poju International Co., Ltd. GE TECHNOLOGY INC. VETNOSTRUM ANIMAL HEALTH CO., LTD. FOXCONN GLOBAL NETWORK CORPORATION ENLI TECHNOLOGY CO., LTD. GREENWAY ENVIRONMENTAL TECHNOLOGY CO., LTD. CDIB & Partners Investment Holding Corporation GREEN SHEPHERD CORPORATION TFBS BIOSCIENCE, INC. YONGDA FOOD TECHNOLOGY CO., LTD. MITAGRI CO., LTD. T-Car Inc. MUTUAL-PAK TECHNOLOGY CO., LTD. Huiyang Private Equity Fund Co., Ltd.	No relation No relation No relation No relation The held company as its director No relation The held company as its director No relation No relation The held company as its director No relation No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent	1,444,996 5,000,000 5,000,000 2,263,000 1,108,910 1,660,269 3,000,000 915,600 3,750,000 2,160,000 1,120,000 350,000 1,413,500 1,301,237 500,000 1,300,000 35,000	60,292 50,000 50,000 49,325 48,300 43,167 30,960 30,235 30,000 27,791 23,000 18,900 13,886 13,420 10,081 5,385 2,294	5 10 10 5 6 3 9 9 8 - 8 1 5 15 2 8 1	60,292 50,000 50,000 49,325 48,300 43,167 30,960 30,235 30,000 27,791 23,000 18,900 13,886 13,420 10,081 5,385 2,294

90 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	ULTRADISPLAY INC. LOCUS CELL CO., LTD. EVERGREEN AVIATION TECHNOLOGIES CORPORATION ENIMMUNE CORPORATION MEDICAL IMAGING CORPORATION CHEN NAN IRON WIRE CO., LTD. NAN JUEN INTERNATIONAL CO., LTD. Ping Ho Environmental Technology Company Co., Ltd. Lianyou Metals Co., Ltd FEMCO STEEL TECHNOLOGY CO., LTD. SUNNY PHARMTECH INC. NORBEL BABY CO.,LTD FLASHAIM INC. SUPERALLOY INDUSTRIAL CO., LTD. HANDA PHARMACEUTICALS, INC. GMT GLOBAL INC. SUN RISE E&T CORPORATION	No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent	1,446,891 5,289,000 1,200,000 1,147,820 1,188,000 2,000,000 606,000 740,650 462,920 1,078,000 1,786,234 200,000 770,000 374,000 150,000 728,325 731,000	651 150,927 76,867 59,329 45,239 40,224 35,845 34,645 31,727 30,400 28,380 25,035 17,980 17,114 15,324 13,845 12,509	9 3 - 2 6 5 1 3 2 3 1 1 6 - - 2 2	651 150,927 76,867 59,329 45,239 40,224 35,845 34,645 31,727 30,400 28,380 25,035 17,980 17,114 15,324 13,845 12,509

91 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Thintech Materials Technology Co., Ltd. Winning Investment Corporation Betacera Inc. Betacera Inc. Shanghai Xike Ceramic Electronic Co., Ltd. Universal Exchange Inc. Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Mutual fund Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	ALLIANCE MATERIAL CO., LTD. LIAN HONG ART CO., LTD. STUDY KING CO., LTD. Lianyou Metals Co., Ltd China Steel Corporation TAIWAN IMPLANT TECHNOLOGY CO., LTD. HCT REGENERATIVE CO., LTD Shanghai Join Buy Co., Ltd. Union Money Market Fund TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED SYMTEK AUTOMATION ASIA CO., LTD. ZERO ONE TECHNOLOGY CO., LTD. BRIGHTON-BEST INTERNATIONAL (TAIWAN) INC. TBI MOTION TECHNOLOGY CO., LTD. FORMOSA ADVANCED TECHNOLOGIES CO., LTD. INNODISK CORPORATION HERAN CO., LTD.	No relation No relation No relation No relation The ultimate parent company No relation The held company as its director No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets mandatorily classified as at fair value through profit or loss - noncurrent (including measurement) Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current	394,000 270,305 309,600 462,920 159,606,339 74,149 1,294,153 71,820 1,572,061 108,000 360,000 724,109 732,000 583,000 500,000 97,807 166,000	9,298 8,793 8,483 31,727 4,756,269 - 11,143 2,469 21,090 48,438 30,600 29,073 27,743 21,250 19,150 18,143 17,596	1 1 2 2 1 - 19 - - - - - - - - - -	9,298 8,793 8,483 31,727 4,756,269 - 11,143 2,469 21,090 48,438 30,600 29,073 27,743 21,250 19,150 18,143 17,596	Note 2

92 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	ARDENTEC CORPORATION GIGA-BYTE TECHNOLOGY CO., LTD. RADIANT OPTO-ELECTRONICS CORPORATION MICRO-STAR INTERNATIONAL CO., LTD. I SHENG ELECTRIC WIRE & CABLE CO., LTD. GREAT WALL ENTERPRISE CO., LTD. CHC Healthcare Group I JANG INDUSTRIAL CO., LTD. QST INTERNATIONAL CORP. KWONG LUNG ENTERPRISE CO.,LTD. ASIA TECH IMAGE INC. REALTEK SEMICONDUCTOR CORP. MEDIATEK INC. JETWELL COMPUTER CO., LTD. ASROCK INC. JDV CONTROL VALVES CO., LTD. LONGWELL COMPANY	No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current	340,000 130,000 128,000 112,000 299,000 272,790 283,000 211,000 190,500 180,000 165,000 33,000 14,000 157,000 52,000 150,000 136,000	16,864 13,845 13,440 13,384 12,618 12,426 12,325 11,605 10,725 9,432 9,405 9,273 8,750 8,133 7,384 7,290 7,208	- - - - - - - - - - - - - - - - -	16,864 13,845 13,440 13,384 12,618 12,426 12,325 11,605 10,725 9,432 9,405 9,273 8,750 8,133 7,384 7,290 7,208

93 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	ETERNAL MATERIALS CO., LTD. TAIWAN CEMENT CORPORATION WAH LEE INDUSTRIAL CORP. JUFAN INDUSTRIAL CO., LTD. HARMONY ELECTRONICS CORP. TAIWAN PRINTED CIRCUIT BOARD TECHVEST CO., LTD. NAN YA PRINTED CIRCUIT BOARD CORPORATION ARGOSY RESEARCH INC. GLOBALWAFERS CO., LTD. CHENFULL PRECISION CO., LTD KING YUAN ELECTRONICS CO., LTD. AMPAK TECHNOLOGY INC. CHIA HSIN CEMENT CORP. CHICONY ELECTRONICS CO., LTD. ELITE MATERIAL CO., LTD. JESS-LINK PRODUCTS CO., LTD. SHEH FUNG SCREWS CO., LTD.	No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current	226,250 210,000 84,000 151,000 199,000 156,000 24,000 62,000 11,000 50,000 94,000 42,000 170,000 34,000 17,000 59,000 45,000	7,070 7,067 7,039 6,712 6,149 5,647 5,448 4,960 4,703 3,670 3,403 2,986 2,958 2,934 2,907 2,360 2,331	- - - - - - - - - - - - - - - - -	7,070 7,067 7,039 6,712 6,149 5,647 5,448 4,960 4,703 3,670 3,403 2,986 2,958 2,934 2,907 2,360 2,331

94 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Mutual fund	QUANTA COMPUTER INC. SINO-AMERICAN SILICON PRODUCTS INC. ACER INCORPORATED TXC CORPORATION HIGHLIGHT TECH CORPORATION LITE-ON TECHNOLOGY CORPORATION JIH SUN International Leasing & Finance Co., Ltd. GE TECHNOLOGY INC. CYBERSOFT DIGITAL SERVICES CORPORATION TFBS BIOSCIENCE, INC. GREEN SHEPHERD CORPORATION NAN JUEN INTERNATIONAL CO., LTD. Lianyou Metals Co., Ltd MEDICAL IMAGING CORPORATION GMT GLOBAL INC. HANDA PHARMACEUTICALS, INC. CTBC Hua Win Money Market Fund	No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets mandatorily classified as at fair value through profit or loss -current (including measurement)	28,000 14,000 60,000 12,000 20,000 15,000 1,000,000 475,247 350,000 150,000 224,000 320,000 208,000 215,000 342,000 39,000 28,915,950	2,024 1,953 1,413 992 990 957 31,000 20,700 14,604 8,100 4,600 18,928 14,255 8,187 6,501 3,984 323,234	- - - - - - - 2 1 - 2 1 1 1 1 - -	2,024 1,953 1,413 992 990 957 31,000 20,700 14,604 8,100 4,600 18,928 14,255 8,187 6,501 3,984 323,234

95 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Pro-Ascentek Investment Corporation Mentor Consulting Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation	Mutual fund Corporate bond Corporate bond Mutual fund Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	Allianz Global Investors Taiwan Money Market Fund TSMC ARIZONA CORP.DL-NOTES 2022(22/27) REG.S TSMC GLOBAL LTD.DL-NOTES 2022(22/27) REG.S Union Money Market Fund Microsoft Corporation Apple Inc. Amazon.com, Inc. NVIDIA Corporation TBI MOTION TECHNOLOGY CO., LTD. TANG ENG IRON WORKS CO., LTD. TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED TOPCO SCIENTIFIC CO., LTD. JUFAN INDUSTRIAL CO., LTD. GLOBAL TEK FABRICATION CO., LTD. YUNGSHIN CONSTRUCTION & DEVELOPMENT CO.,LTD. INNODISK CORPORATION Bionime Corporation	No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current	1,180,981 - - 3,079,493 2,088 1,880 2,240 1,220 3,294,000 3,723,000 262,000 614,000 2,005,000 1,720,943 1,500,000 345,603 722,200	15,040 41,402 16,666 41,314 15,378 7,501 5,778 5,475 120,066 118,205 117,507 100,696 89,122 87,768 81,750 64,109 55,754	- - - - - - - - - - - - - - - - -	15,040 41,402 16,666 41,314 15,378 7,501 5,778 5,475 120,066 118,205 117,507 100,696 89,122 87,768 81,750 64,109 55,754

96 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	JDV CONTROL VALVES CO., LTD. PROMATE SOLUTIONS CORPORATION First Financial Holding Co. Ltd. BAFANG YUNJI INTERNATIONAL CO., LTD. FARCENT ENTERPRISE CO., LTD. ZERO ONE TECHNOLOGY CO., LTD. ASE Technology Holding Co., Ltd. GIGA-BYTE TECHNOLOGY CO., LTD. GREAT WALL ENTERPRISE CO., LTD. TAI-SAW TECHNOLOGY CO., LTD. EXCELSIOR MEDICAL CO., LTD. GLOBALWAFERS CO., LTD. CHINA FINEBLANKING TECHNOLOGY CO., LTD. MICRO-STAR INTERNATIONAL CO., LTD. CHICONY ELECTRONICS CO., LTD. TRIPOD TECHNOLOGY CORPORATION JOURDENESS GROUP LIMITED	No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current	1,050,000 515,000 939,527 100,000 386,000 519,725 200,000 165,000 381,355 648,323 241,599 36,000 400,000 112,000 142,000 115,000 135,000	51,030 29,973 24,897 22,700 21,384 20,867 18,780 17,573 17,371 16,889 16,332 15,390 13,400 13,384 12,255 10,810 10,139	- - - - - - - - - - - - - - - - -	51,030 29,973 24,897 22,700 21,384 20,867 18,780 17,573 17,371 16,889 16,332 15,390 13,400 13,384 12,255 10,810 10,139

97 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	TAIWAN CEMENT CORPORATION REALTEK SEMICONDUCTOR CORP. Mega Financial Holding Co., Ltd. NAN YA PRINTED CIRCUIT BOARD CORPORATION SYMTEK AUTOMATION ASIA CO., LTD. EVA AIRWAYS CORPORATION CHICONY POWER TECHNOLOGY CO., LTD. QUANTA COMPUTER INC. PHIHONG TECHNOLOGY CO., LTD. TXC CORPORATION LITE-ON TECHNOLOGY CORPORATION SIMPLO TECHNOLOGY CO., LTD. MEDIATEK INC. UNITED MICROELECTRONICS CORP. RADIANT OPTO-ELECTRONICS CORPORATION HON HAI PRECISION INDUSTRY CO., LTD. BizLink Holding Inc.	No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current	300,000 34,000 307,000 38,000 100,000 242,000 85,000 82,000 150,000 71,000 91,000 18,000 8,000 122,000 44,000 45,000 18,000	10,095 9,554 9,317 8,626 8,500 6,812 6,205 5,929 5,918 5,872 5,806 5,130 5,000 4,965 4,620 4,496 4,257	- - - - - - - - - - - - - - - - -	10,095 9,554 9,317 8,626 8,500 6,812 6,205 5,929 5,918 5,872 5,806 5,130 5,000 4,965 4,620 4,496 4,257

98 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation	Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	CATHAY FINANCIAL HOLDING CO., LTD. Asia Vital Components Co., Ltd. CHENBRO MICOM CO., LTD. Fubon Financial Holding Co., Ltd. TAIWAN SEMICONDUCTOR CO., LTD. Yang Ming Marine Transport Corp. EVERGREEN MARINE CORPORATION (TAIWAN) LTD. Fulgent Sun International (Holding) Co., Ltd. E INK HOLDINGS INC. AEROSPACE INDUSTRIAL DEVELOPMENT CORP. NOVATEK MICROELECTRONICS CORP. FOXCONN GLOBAL NETWORK CORPORATION GREEN SHEPHERD CORPORATION MEDICAL IMAGING CORPORATION SUNNY PHARMTECH INC. NAN JUEN INTERNATIONAL CO., LTD. FLASHAIM INC.	No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent	102,562 36,000 55,000 62,000 46,000 46,000 18,000 19,000 16,000 60,000 5,000 3,000,000 672,000 1,188,000 1,749,841 400,000 385,000	4,102 4,032 3,982 3,491 3,413 3,013 2,934 2,888 2,576 2,145 1,578 30,960 13,200 45,239 27,801 23,660 8,990	- - - - - - - - - - - 9 5 6 1 1 3	4,102 4,032 3,982 3,491 3,413 3,013 2,934 2,888 2,576 2,145 1,578 30,960 13,200 45,239 27,801 23,660 8,990

99 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Shin Mau Investment Corporation Hung-Chuan Investment Corporation Chi-Yi Investment Corporation Ding Da Investment Corporation Jiing-Cherng-Fa Investment Corporation Gau Ruei Investment Corporation Li-Ching-Long Investment Corporation Sheng Lih Dar Investment Corporation Chiun Yu Investment Corporation China Steel Global Trading Corporation	Preferred stock Preferred stock Preferred stock Convertible bond Convertible bond Corporate bond Corporate bond Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock Common stock	Fubon Financial Holding Co., Ltd. Preferred Shares A Cathay Financial Holding Co., Ltd.(A) Fubon Financial Holding Co., Ltd. Ltd. Preferred Shares C SINBON ELECTRONICS COMPANY LTD. 8th Convertible Bond TOPCO TECHNOLOGIES CORP.1st Convertible Bond TSMC GLOBAL LTD.DL-NOTES 2022(22/27) REG.S TSMC ARIZONA CORP.DL-NOTES 2022(22/27) REG.S China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation	No relation No relation No relation No relation No relation No relation No relation The ultimate parent company The ultimate parent company The ultimate parent company The ultimate parent company The ultimate parent company The ultimate parent company The ultimate parent company The ultimate parent company The ultimate parent company Parent company	Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - current	823,000 644,000 169,083 245,000 141,000 - - 1,433,749 1,605,875 1,616,723 1,525,494 1,461,875 1,493,318 1,605,441 1,542,138 1,623,289 4,349,507	49,709 36,450 9,316 26,607 14,523 42,400 20,691 42,726 47,855 48,178 45,460 43,564 44,501 47,842 45,956 48,374 129,615	- - - - - - - - - - - - - - - - -	49,709 36,450 9,316 26,607 14,523 42,400 20,691 42,726 47,855 48,178 45,460 43,564 44,501 47,842 45,956 48,374 129,615

100 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
China Steel Global Trading Corporation China Steel Global Trading Corporation Wabo Global Trading Corporation Chung Mao Trading (Samoa) Corporation Chung Mao Trading (Samoa) Corporation CSGT International Corporation CSGT International Corporation CSC Steel Australia Holdings Pty Ltd CSC Steel Australia Holdings Pty Ltd China Steel Asia Pacific Holdings Pte Ltd China Steel Asia Pacific Holdings Pte Ltd China Steel Asia Pacific Holdings Pte Ltd CSC Steel Holdings Berhad CSC Steel Holdings Berhad CSC Steel Sdn. Bhd. CSC Steel Sdn. Bhd. CSC Steel Sdn. Bhd.	Common stock Preferred stock Common stock Certificate of entitlement Certificate of entitlement Common stock Certificate of entitlement Common stock Common stock Certificate of entitlement Certificate of entitlement Certificate of entitlement Common stock Mutual fund Mutual fund Mutual fund Mutual fund	Nippon Steel Thai Sumilox Co., Ltd. Nippon Steel Thai Sumilox Co., Ltd. China Steel Corporation Maruichi Metal Product (Foshan) Co., Ltd. PCMI Metal Products (Chongquing) Co., Ltd. NST Coil Center (Thailand) Ltd. Hanoi Steel Center Co., Ltd. KJTC Pty Ltd Mulga Iron Holdings Pty Ltd Wuxi TECO Electric & Machinery Co., Ltd. QINGDAO TECO PRECISION MECHATRONICS CO., Ltd. TOP PRO STEEL JOINT STOCK COMPANY Astino Berhad AFFINHWANG – AIIMAN MONEY MARKET FUND AFFINHWANG – AIIMAN MONEY MARKET FUND RHB CASH MANAGMENT FUND 2 HLAM – MONEY MARKET FUND	No relation No relation The ultimate parent company No relation No relation No relation No relation The held company as its director No relation The held company as its director and supervisor The held company as its director No relation No relation No relation No relation No relation No relation	Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets at fair value through other comprehensive income - noncurrent Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement) Financial assets mandatorily classified as at fair value through profit or loss -current (including measurement)	1,110 15 487,367 - - 3,001 - 2,623,595 314,286 - - - 6,562,727 27,435,100 231,053,451 29,019,380 21,589	91,870 48,821 14,524 264,256 125,125 83,998 186,332 5,704,105 26,500 248,751 30,710 28,591 20,541 100,974 850,385 291,260 145	15 15 - 15 8 13 19 13 - 6 12 3 - - - - -	91,870 48,821 14,524 264,256 125,125 83,998 186,332 5,704,105 26,500 248,751 30,710 28,591 20,541 100,974 850,385 291,260 145

101 -

Held Company Name	Type and Name	of Marketable Securities	Relationship with The Company	Financial Statement Account		DECEMBER	31, 2022		Note
					Shares/Units	Carrying Value	Percentage of Ownership (%)	Fair Value
Constant Mode Sdn. Bhd.	Mutual fund	RHB CASH MANAGMENT FUND 2	No relation	Financial assets mandatorily classified as at fair value through profit or loss - current (including measurement)	278,415	2,794	-	2,794

Note 1: Parent company's stocks pledged as collateral amounted to 53,500 thousand shares and NT$1,594,300 thousand.

Note 2: Parent company's stocks pledged as collateral amounted to 123,100 thousand shares and NT$3,668,380 thousand.

102 -

TABLE 4

CHINA STEEL CORPORATION AND SUBSIDIARIES

MARKETABLE SECURITIES ACQUIRED AND DISPOSED OF AT COSTS OR PRICES OF AT LEAST NT$300 MILLION OR 20% OF THE PAID-IN CAPITAL FOR THE PERIOD ENDED DECEMBER 31, 2022 (Amounts in Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Company	Type of Marketable Securities	Name of Marketable Securities	Financial Statement Account	Counter-party	Nature of Relationship	Beginn	ing Balance	Acquisi	tion (Note 1)		Dispos	al (Note 1)		Endin	g Balance
						Shares/Units	Amount	Shares/Units	Amount	Shares/Units	Amount	Carrying Value	Gain/Loss on Disposal	Shares/Units	Amount
China Steel Corporation CHC Resources Corporation China Prosperity Development Corporation Gains Investment Corporation Pro-Ascentek Investment Corporation China Steel Global Trading Corporation China Steel Asia Pacific Holdings Pte Ltd CSC Steel Sdn. Bhd. CSC Steel Sdn. Bhd.	Common stock Mutual fund Mutual fund Mutual fund Mutual fund Certificate of entitlement Certificate of entitlement Mutual fund Mutual fund	Sing Da Marine Structure Corporation Taishin 1699 Money Market Fund FSITC MONEY MARKET FUND Jih Sun Money Market Fund CTBC Hua Win Money Market Fund China Steel Precision Metals Qingdao Co., Ltd. China Steel Precision Metals Qingdao Co., Ltd. AFFINHWANG - AIIMAN MONEY MARKET FUND RHB CASH MANAGMENT FUND 2	Investments accounted for using equity method Financial assets mandatorily classified as at fair value through profit or loss -current(including measurement) Financial assets mandatorily classified as at fair value through profit or loss -current(including measurement) Financial assets mandatorily classified as at fair value through profit or loss -current(including measurement) Financial assets mandatorily classified as at fair value through profit or loss -current(including measurement) Investments accounted for using equity method Investments accounted for using equity method Financial assets mandatorily classified as at fair value through profit or loss -current(including measurement) Financial assets mandatorily classified as at fair value through profit or loss -current(including measurement)	Subsidiary - - - - Subsidiary Subsidiary - -	Subsidiary - - - - Subsidiary Subsidiary - -	22,695,000 3,656,494 - - 31,949,629 - - 82,888,944 -	224,827 50,000 - - 355,507 - 359,620 283,411 -	100,000,000 24,080,319 4,436,729 20,635,262 26,477,801 - - 242,866,372 42,424,206	353,409 330,000 800,000 310,000 295,961 383,468 7,118 900,360 421,235	- 27,736,814 4,436,729 20,635,262 29,511,480 - - 94,701,865 13,404,826	- 380,250 800,155 310,064 329,000 - 362,831 333,386 129,975	- 380,000 800,000 310,000 328,233 - 366,738 333,386 129,975	- 250 155 64 767 - (3,907) (Note 3) - -	122,695,000 - - - 28,915,950 - - 231,053,451 29,019,380	578,236 - - - 323,234 383,468 (Note 2) - (Note 2) 850,385 291,260

Note1: The acquisition and disposal include the costs, proceeds from sale, share of profits/losses of investees and other related adjustment.

Note 2: Group reorganized, CSAP sold 60% of its shares in CSMQ to CSGT.

Note 3: CSAP classifies the difference between carrying cost and selling price under equity.

103 -

TABLE 5

CHINA STEEL CORPORATION AND SUBSIDIARIES

ACQUISITION OF INDIVIDUAL REAL ESTATE AT COSTS OF AT LEAST NT$300 MILLION OR 20% OF THE PAID-IN CAPITAL FOR THE PERIOD ENDED DECEMBER 31, 2022

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Company Name	Property	Event Date	Transaction Amount	Payment Term	Counterparty	Relationship	P	rior Transaction	of Related Coun	ter Party	Pricing Reference	Purpose of Acquisition	Other Terms
							Owner	Relationships	Transfer Date	Amount
Dragon Steel Corporation Dragon Steel Corporation Dragon Steel Corporation	Reclaimed Water Plant Right-of-use asset The buildings of plant located on Fuli Sec., Longjing Dist., Taichung City	2022.06.13 (Note) 2022.12.26 (Note) 2022.12.26 (Note)	982,000 (Note) 3,122,000 (Note) 560,000 (Note)	According to the contract According to the contract According to the contract	China Ecotek Corporation Port of Taichung, Taiwan International Ports Corporation, Ltd. Port of Taichung, Taiwan International Ports Corporation, Ltd.	The same parent company - -	- - -	- - -	- - -	- - -	Price negotiation Price negotiation Price negotiation	Construction for own use Construction for own use Construction for own use

Note : The disclosures are expected information based on the capital appropriation approved by the Board of Directors (Right-of-use assets are included). The actual information shall be subject to the final purchase order of the company.

104 -

TABLE 6

CHINA STEEL CORPORATION AND SUBSIDIARIES

Disposal of Real Estate Reaching NT$300 Million or 20 Percent of Paid-in Capital or More FOR THE PERIOD ENDED DECEMBER 31, 2022

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Company Name	Property	Event Date	Date of Original Acquisition	Carrying Value	Transaction Amount	The circumstances in which accounts are charged	Gain/Loss on Disposal	Owner	Relationships	Purpose of Acquisition	Price Reference	Other Terms
Ningbo Huayang Aluminium-Tech Co., Ltd. Ningbo Huayang Aluminium-Tech Co., Ltd.	Buildings Land right-of-use	2022.07.29 2022.07.29	2003.12.16 2003.12.16	219,696 12,436	335,734 800,384	According to the contract terms and progress According to the contract terms and progress	116,038 787,948	Ningbo Feng Hua City Jinbei Construction Investment Co.,Ltd Ningbo Feng Hua City Jinbei Construction Investment Co.,Ltd	Non-Related parties Non-Related parties	Closing business due to adjustment of operating structure Closing business due to adjustment of operating structure	Refer to the appraisal report of the appraisal company Refer to the appraisal report of the appraisal company

105 -

TABLE 7

CHINA STEEL CORPORATION AND SUBSIDIARIES

TOTAL PURCHASES FROM OR SALES TO RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID-IN CAPITAL FOR THE PERIOD ENDED DECEMBER 31, 2022

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Buyer	Related Party	Relationship		Relationship	Relationship		Abnormal	Transaction	Notes/Accounts Receiv	able (Payable)	Note
			Purchase/Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Ending Balance	% of Total
China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation	Chung Hung Steel Corporation China Steel and Nippon Steel Vietnam Joint Stock Company China Steel Structure Co., Ltd. CSCI Steel Corporation India Pvt. Ltd. China Steel Chemical Corporation Dragon Steel Corporation China Steel Global Trading Corporation CSC Steel Sdn. Bhd. CSGT Metals Vietnam Joint Stock Company China Steel Precision Metals Kunshan Co., Ltd. China Steel Precision Metals Qingdao Co., Ltd. TSK Steel Company Limited CHC Resources Corporation CSBC Corporation,Taiwan HIMAG Magnetic Corporation Fukuta Electric & Machinery Co., Ltd. Sing Da Marine Structure Corporation China Steel Power Corporation	Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Affiliated enterprise Subsidiary The Corporation as director of the board of related party Subsidiary Affiliated enterprise Subsidiary Subsidiary	Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Service revenue and other operating revenue	(7,310,973 ) (3,892,613 ) (3,527,556 ) (3,483,167 ) (2,972,964 ) (2,523,470 ) (2,311,855 ) (1,612,820 ) (1,588,597 ) (1,370,680 ) (945,255 ) (829,174 ) (667,981 ) (458,354 ) (217,769 ) (204,879 ) (116,399 ) (714,340 )	(3 ) (2 ) (1 ) (1 ) (1 ) (1 ) (1 ) (1 ) (1 ) (1 ) - - - - - - - -	Letter of credit/Receivables were collected after final acceptance Accounts receivable factoring agreements/Receivables were collected within 14 days after shipment date Letter of credit/Accounts received in advance before shipment date Accounts receivable factoring agreements Letter of credit Receivables were collected within 5 days after shipment date Receivables were collected within 10 days after shipment date Receivables were collected within 14 days after shipment date Receivables were collected within 14 days after shipment date Receivables were collected within 85 days after shipment date Receivables were collected within 60 days after shipment date Letter of credit/Accounts received in advance before shipment date Letter of credit Accounts received in advance before shipment date Letter of credit/Accounts received in advance before shipment date Letter of credit Receivables were collected within 10 days after shipment date By contract terms	- - - - - - - - - - - - - - - - - -		- - 25,756 - 170,643 18,392 5,766 6,333 69,195 350,654 126,936 - 5,156 - 582 - 57 14,489	- - 1 - 4 - - - 2 8 3 - - - - - - -	Note 1

106 -

Buyer	Related Party	Relationship		Relationship	Relationship		Abnormal	Transaction	Notes/Accounts Receiv	able (Payable)	Note
			Purchase/Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Ending Balance	% of Total
China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation Dragon Steel Corporation Dragon Steel Corporation Dragon Steel Corporation Dragon Steel Corporation Dragon Steel Corporation Dragon Steel Corporation Dragon Steel Corporation Dragon Steel Corporation Dragon Steel Corporation Dragon Steel Corporation Dragon Steel Corporation	Dragon Steel Corporation China Steel Chemical Corporation Tang Eng Iron Works Co., Ltd. C.S.Aluminium Corporation Taiwan High Speed Rail Corporation Dragon Steel Corporation China Steel Express Corporation C.S.Aluminium Corporation CSE Transport Corporation China Steel Global Trading Corporation HIMAG Magnetic Corporation Hsin Hsin Cement Enterprise Corporation CHC Resources Corporation China Steel Corporation Chung Hung Steel Corporation China Steel and Nippon Steel Vietnam Joint Stock Company CSC Steel Sdn. Bhd. China Steel Chemical Corporation China Steel Structure Co., Ltd. China Steel Global Trading Corporation CHC Resources Corporation CSGT Metals Vietnam Joint Stock Company China Steel Express Corporation China Steel Corporation	Subsidiary Subsidiary The Corporation as director of the board of related party Subsidiary The Corporation as director of the board of related party Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Affiliated enterprise Subsidiary Parent company The same parent company The same parent company The same parent company The same parent company The same parent company The same parent company The same parent company The same parent company The same parent company Parent company	Service revenue and other operating revenue Service revenue and other operating revenue Service revenue and other operating revenue Service revenue and other operating revenue Construction revenue Purchases Purchases Purchases Purchases Purchases Purchases Purchases Purchases Sales Sales Sales Sales Sales Sales Sales Sales Sales Purchases Purchases	(686,576 ) (275,000 ) (213,002 ) (131,074 ) (257,077 ) 20,842,445 11,638,044 3,027,778 903,882 734,167 330,569 122,995 109,395 (20,843,551 ) (15,224,316 ) (6,113,468 ) (4,358,412 ) (1,250,483 ) (1,170,010 ) (984,781 ) (362,744 ) (140,477 ) 6,379,303 2,753,909	- - - - - 12 7 2 1 - - - - (19 ) (14 ) (6 ) (4 ) (1 ) (1 ) (1 ) - - 7 3	By contract terms By contract terms By contract terms By contract terms By contract terms Payment within 5 days after shipment date/Payment after final acceptance Payment against copy of B/L Payment after final acceptance Payment against copy of B/L Payment after final acceptance Payment after final acceptance Payment after final acceptance Payment after final acceptance Receivables were collected within 5 days after shipment date/Receivables were collected after final acceptance Receivables were collected within 5 days after shipment date Receivables were collected within 5 days after shipment date Receivables were collected within 5 days after shipment date Receivables were collected within 5 days after shipment date Receivables were collected within 5 days after shipment date/Letter of credit Receivables were collected within 5 days after shipment date/Accounts received in advance before shipment date Receivables were collected within 5 days after shipment date/Letter of credit Receivables were collected within 5 days after shipment date Payment against copy of B/L Payment within 5 days aftershipment date	- - - - - - - - - - - - - - - - - - - - - - - -	NO THIRD-PARTY COULD BE COMPARED NO THIRD-PARTY COULD BE COMPARED NO THIRD-PARTY COULD BE COMPARED	31,728 42,437 7,120 10,987 - 1,453 (489,399 ) (224,873 ) (152,366 ) (17,138 ) (19,947 ) (19,572 ) (19,827 ) 271,350 287,889 - 135,239 18,257 29,886 1,165 7,354 - (133,515 ) (18,522 )	1 1 - - - - (9 ) (4 ) (3 ) - - - - 15 15 - 7 1 2 - - - (5 ) (1 )	Note 2

107 -

Buyer	Related Party	Relationship		Relationship	Relationship		Abnormal	Transaction	Notes/Accounts Receiv	able (Payable)	Note
			Purchase/Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Ending Balance	% of Total
Dragon Steel Corporation Dragon Steel Corporation Dragon Steel Corporation Betacera Inc. Betacera Inc. Betacera Inc. Betacera Inc. Betacera (Su Zhou) Co., Ltd. Betacera (Su Zhou) Co., Ltd. Suzhou Betacera Technology Co., Ltd. Thintech Materials Technology Co., Ltd. China Steel Express Corporation China Steel Express Corporation China Steel Express Corporation China Steel Express Corporation China Steel Express Corporation CSE Transport Corporation CSE Transport Corporation CSE Transport Corporation Kaoport Stevedoring Corporation C.S.Aluminium Corporation C.S.Aluminium Corporation C.S.Aluminium Corporation Ningbo Huayang Aluminium-Tech Co.,Ltd.	C.S.Aluminium Corporation CSE Transport Corporation China Steel Global Trading Corporation Betacera (Su Zhou) Co., Ltd. China Steel Corporation Betacera (Su Zhou) Co., Ltd. Suzhou Betacera Technology Co., Ltd. Betacera Inc. Betacera Inc. Betacera Inc. China Steel Corporation China Steel Corporation Dragon Steel Corporation CHC Resources Corporation China Steel Global Trading Corporation CSE Transport Corporation China Steel Corporation China Steel Express Corporation Dragon Steel Corporation China Steel Corporation China Steel Corporation Dragon Steel Corporation Ningbo Huayang Aluminium-Tech Co., Ltd. C.S.Aluminium Corporation	The same parent company The same parent company The same parent company Subsidiary The ultimate parent of the company Subsidiary Subsidiary Parent company Parent company Parent company The ultimate parent of the company Parent company The same parent company The same parent company The same parent company Subsidiary The ultimate parent of the company Parent company The same parent company The ultimate parent of the company Parent company The same parent company Subsidiary Parent company	Purchases Purchases Purchases Sales Sales Purchases Purchases Sales Purchases Sales Sales Service revenue Service revenue Service revenue Service revenue Purchases Service revenue Service revenue Service revenue Service revenue Sales Sales Sales Purchases	1,181,892 601,331 325,358 (540,066 ) (439,224 ) 1,564,955 544,717 (1,565,105 ) 541,127 (543,549 ) (155,019 ) (12,756,544 ) (6,797,211 ) (588,074 ) (162,904 ) 889,141 (913,747 ) (881,137 ) (604,468 ) (214,821 ) (3,027,778 ) (1,181,892 ) (134,845 ) 134,845	1 1 - (19 ) (15 ) 55 19 (87 ) 52 (100 ) (6 ) (57 ) (31 ) (3 ) (1 ) 5 (28 ) (27 ) (19 ) (70 ) (13 ) (5 ) (1 ) 10	Payment after final acceptance Payment against copy of B/L Payment after final acceptance Net 90-180 days from the end of the month of when invoice is issued Receivables were collected after final acceptance Net 90-180 days from the end of the month of when invoice is issued Net 90-180 days from the end of the month of when invoice is issued Net 90-180 days from the end of the month of when invoice is issued Net 90-180 days from the end of the month of when invoice is issued Net 90-180 days from the end of the month of when invoice is issued Receivables were collected within 7 days after final acceptance Receivable were collected within 10 working days against copy of B/L Receivable were collected within 10 working days against copy of B/L Receivable were collected within 10 working days against copy of B/L Receivable were collected within 10 working days against copy of B/L Payment against copy of B/L Receivable were collected within 10 working days against copy of B/L Receivable were collected within 10 working days against copy of B/L Receivable were collected within 10 working days against copy of B/L Receivable were collected within 30 working days against copy of B/L Receivables were collected after final acceptance Receivables were collected after final acceptance Receivables were collected after final acceptance Payment after final acceptance	- - - - - - - - - - - - - - - - - - - - - - - -	NO THIRD-PARTY COULD BE COMPARED NO THIRD-PARTY COULD BE COMPARED NO THIRD-PARTY COULD BE COMPARED	(91,077 ) (50,622 ) (39,181 ) 173,549 2,061 (291,735 ) (115,295 ) 291,639 (173,429 ) 115,257 - 489,938 134,125 - 11 (41,216 ) 152,366 41,216 50,622 8,597 224,873 91,077 - -	(4 ) (2 ) (2 ) 26 - (53 ) (21 ) 88 (44 ) 99 - 71 19 - - (9 ) 58 15 19 65 23 10 - -

108 -

Buyer	Related Party	Relationship		Relationship	Relationship		Abnormal	Transaction	Notes/Accounts Receiv	able (Payable)	Note
			Purchase/Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Ending Balance	% of Total
CSC Steel Sdn. Bhd. CSC Steel Sdn. Bhd. CSC Steel Sdn. Bhd. CSC Steel Sdn. Bhd. Chung Hung Steel Corporation Chung Hung Steel Corporation Chung Hung Steel Corporation Chung Hung Steel Corporation Chung Hung Steel Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation Changzhou China Steel New Materials Technology Co., Ltd. China Steel Global Trading Corporation China Steel Global Trading Corporation China Steel Global Trading Corporation China Steel Global Trading Corporation China Steel Global Trading Corporation China Steel Global Trading Corporation China Steel Global Trading Corporation China Steel Global Trading Corporation CSGT (Singapore) Pte. Ltd. CSGT Metals Vietnam Joint Stock Company CSGT Metals Vietnam Joint Stock Company CSGT Metals Vietnam Joint Stock Company	Dragon Steel Corporation Chung Hung Steel Corporation China Steel Corporation China Steel Global Trading Corporation CSC Steel Sdn. Bhd. China Steel Corporation Dragon Steel Corporation China Steel Corporation China Steel Global Trading Corporation Linyuan Advanced Materials Technology Co., Ltd. Changzhou China Steel New Materials Technology Co., Ltd. E-ONE MOLI ENERGY CORP. China Steel Corporation Formosa Ha Tinh Steel Corporation Dragon Steel Corporation China Steel Chemical Corporation China Steel Corporation CSC Steel Sdn. Bhd. Dragon Steel Corporation Sing Da Marine Structure Corporation China Steel Corporation Formosa Ha Tinh Steel Corporation China Steel Corporation Tang Eng Iron Works Co., Ltd. China Steel Corporation China Steel Corporation China Steel and Nippon Steel Vietnam Joint Stock Company Formosa Ha Tinh Steel Corporation	The same parent company The same parent company The ultimate parent of the company The same parent company The same parent company Parent company The same parent company Parent company The same parent company Subsidiary of director of the board Subsidiary Subsidiary of director of the board Parent company Other related parties The same parent company Parent company Parent company The same parent company The same parent company The same parent company Parent company Other related parties Parent company The parent company as director of the board of related party The ultimate parent of the company The ultimate parent of the company The same parent company Other related parties	Purchases Purchases Purchases Purchases Sales Service revenue Purchases Purchases Purchases Sales Sales Sales Purchases Purchases Purchases Purchases Sales Sales Sales Sales Service revenue Purchases Purchases Purchases Service revenue Purchases Purchases Purchases	4,459,661 1,778,458 1,566,941 646,857 (1,751,268 ) (722,048 ) 15,307,063 7,402,133 3,262,928 (1,352,689 ) (317,531 ) (120,017 ) 2,948,355 1,658,344 1,250,483 344,729 (735,142 ) (669,410 ) (325,358 ) (229,070 ) (263,671 ) 13,414,899 3,257,153 519,674 (100,086 ) 1,736,697 620,394 115,655	48 19 17 7 (4 ) (2 ) 38 18 8 (13 ) (3 ) (1 ) 49 27 21 83 (4 ) (4 ) (2 ) (1 ) (68 ) 66 16 3 (86 ) 66 24 4	Payment after shipping document specified Payment after shipping document specified Payment after shipping document specified Payment after shipping document specified T/T within 7 working days against copy of B/L T/T as the end of the month of when invoice is issued after final acceptance Letter of credit at sight Letter of credit at sight/Payment after final acceptance T/T within 7 working days against copy of B/L Receivables are collected as the end of every month of when invoice is issued Receivables were collected within 150 days after shipment date Net 60 days from the end of the month of when invoice is issued Letter of credit at sight Payment within 10 days after shipment date Letter of credit at sight Payment within 150 days after shipment date Receivables were collected after final acceptance Receivable were collected within 7 working days against copy of B/L Receivables were collected after final acceptance Receivables were collected after final acceptance By contract terms Payment from counter-party notice after shipping Payment within 10 days after shipment date Prepaid before shipment date By contract terms Payment within 14 days after shipment date Payment after shipment date Payment after shipment date	- - - - - - - - - - - - - - - - - - - - - - - - - - - -	NO SIGNIFICANT DIFFERENCE NO THIRD-PARTY COULD BE COMPARED NO THIRD-PARTY COULD BE COMPARED NO THIRD-PARTY COULD BE COMPARED NO THIRD-PARTY COULD BE COMPARED	(176,794 ) - (6,191 ) (18,381 ) - 41,915 - (285,669 ) - 91,378 159,305 5,996 (213,779 ) - - (159,305 ) 17,138 19,645 39,181 - 54,985 - (5,615 ) - 7,637 (52,422 ) (32,164 ) -	(81 ) - (3 ) (8 ) - 14 - (35 ) - 13 23 1 (86 ) - - (100 ) 8 9 17 - 24 - (10 ) - 100 (60 ) (37 ) -	Note3 Note3

109 -

Buyer	Related Party	Relationship		Relationship	Relationship		Abnormal	Transaction	Notes/Accounts Receiv	able (Payable)	Note
			Purchase/Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Ending Balance	% of Total
China Steel Precision Metals Kunshan Co., Ltd. China Steel Precision Metals Qingdao Co., Ltd. China Steel Precision Metals Qingdao Co., Ltd. CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation	China Steel Corporation Rechi Precision (Qingdao) Electric Machinery Limited China Steel Corporation TAIWAN CEMENT CORPORATION YA TUNG READY-MIXED CONCRETE CORP. Universal Cement Corporation China Steel Corporation China Steel Corporation Dragon Steel Corporation China Steel Resources Corporation	The ultimate parent of the company The parent company as the director of other related party's parent company The ultimate parent of the company Director of the board Subsidiary of director of the board Director of the board Parent company Parent company The same parent company The same parent company	Purchases Sales Purchases Sales Sales Sales Sales Service revenue Service revenue Service revenue	1,381,859 (376,487 ) 951,015 (698,830 ) (444,257 ) (238,938 ) (104,959 ) (2,584,805 ) (1,345,564 ) (559,422 )	99 (35 ) 99 (7 ) (4 ) (2 ) (1 ) (25 ) (13 ) (5 )	Payment within 85 days after shipment date Net 7 days from invoice date/Net 30 days from invoice date 60 days after B/L Net 60 days from the end of the month of when invoice is issued Net 60 days from the end of the month of when invoice is issued Net 60 days from the end of the month of when invoice is issued Net 60 days from the end of the month of when invoice is issued Net 60 days from the end of the month of when invoice is issued Net 30-70 days from the end of the month of when invoice is issued By contract terms	- - - - - - - - - -	ES:Payment within 7 days after receipt of invoice; PO:Pay 180 days Banker's acceptance within 30 days after receipt of invoice Credit policy for sales to non-related parties starts from bill of lading date, and the payment term has no significant difference from the term of related parties. Credit policy for sales to non-related parties starts from bill of lading date, and the payment term has no significant difference from the term of related parties. Credit policy for sales to non-related parties starts from bill of lading date, and the payment term has no significant difference from the term of related parties. Credit policy for sales to non-related parties starts from bill of lading date, and the payment term has no significant difference from the term of related parties. Credit policy for sales to non-related parties starts from bill of lading date, and the payment term has no significant difference from the term of related parties. Credit policy for sales to non-related parties starts from bill of lading date, and the payment term has no significant difference from the term of related parties. Credit policy for sales to non-related parties starts from bill of lading date, and the payment term has no significant difference from the term of related parties.	(350,654 ) 14,535 (126,591 ) 210,499 55,166 31,285 36,135 36,135 96,169 52,320	(99 ) 28 (98 ) 25 6 4 4 4 11 6

110 -

Buyer	Related Party	Relationship		Relationship	Relationship		Abnormal	Transaction	Notes/Accounts Receiv	able (Payable)	Note
			Purchase/Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Ending Balance	% of Total
CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation Union Steel Development Corporation CHC Resources Vietnam Co., Ltd CHC Resources Vietnam Co., Ltd InfoChamp Systems Corporation InfoChamp Systems Corporation China Steel Structure Co., Ltd. China Steel Structure Co., Ltd. China Steel Structure Co., Ltd. China Steel Structure Co., Ltd. China Steel Structure Co., Ltd. China Steel Structure Co., Ltd.	TAIWAN CEMENT CORPORATION China Steel Corporation Chung Hung Steel Corporation Dragon Steel Corporation TAIWAN CEMENT CORPORATION China Steel Express Corporation ASIA CEMENT CORPORATION CHC Resources Corporation Formosa Ha Tinh Steel Corporation Formosa Ha Tinh Steel Corporation China Steel Corporation Taiwan High Speed Rail Corporation China Steel Corporation Dragon Steel Corporation Dragon Steel Corporation United Steel Engineering & Construction Corporation Sing Da Marine Structure Corporation China Steel Corporation	Director of the board Parent company The same parent company The same parent company Director of the board The same parent company Director of the board Parent company Other related parties Other related parties Parent company The parent company as director of the board of related party Parent company The same parent company The same parent company Subsidiary The same parent company Parent company	Service revenue Purchases Purchases Purchases Purchases Purchases Purchases Service revenue Service revenue Purchases Service revenue Service revenue Service revenue Service revenue Construction revenue Construction revenue Construction revenue Construction revenue	(122,583 ) 696,033 469,215 362,642 153,364 150,479 139,539 (327,150 ) (183,844 ) 402,131 (1,006,166 ) (129,113 ) (392,497 ) (112,564 ) (662,655 ) (466,902 ) (388,872 ) (366,736 )	(1 ) 21 14 11 5 5 4 (60 ) (20 ) 96 (50 ) (6 ) (3 ) (1 ) (5 ) (3 ) (3 ) (3 )	Net 60 days from the end of the month of when invoice is issued Letter of credit Letter of credit Letter of credit 45 days after B/L Prepaid before shipping 45 days after B/L By contract terms Net 10 days from invoice date Prepaid before shipment date By contract terms By contract terms Contractual period Contractual period Contractual period Contractual period Contractual period Contractual period	- - - - - - - - - - - - - - - - - -	Credit policy for sales to non-related parties starts from bill of lading date, and the payment term has no significant difference from the term of related parties. Credit policy for sales to non-related parties starts from bill of lading date, and the payment term has no significant difference from the term of related parties. Credit policy for sales to non-related parties starts from bill of lading date, and the payment term has no significant difference from the term of related parties. Credit policy for sales to non-related parties starts from bill of lading date, and the payment term has no significant difference from the term of related parties. Credit policy for sales to non-related parties starts from bill of lading date, and the payment term has no significant difference from the term of related parties. Credit policy for sales to non-related parties starts from bill of lading date, and the payment term has no significant difference from the term of related parties. Credit policy for sales to non-related parties starts from bill of lading date, and the payment term has no significant difference from the term of related parties.	210,499 (5,149 ) (25,288 ) (4,319 ) (30,775 ) - (18,642 ) 33,286 14,669 - 57,210 70,281 17,535 14,878 40,726 - 46,793 -	25 (2 ) (10 ) (2 ) (12 ) - (7 ) 62 23 - 21 26 2 1 4 - 5 -

111 -

Buyer	Related Party	Relationship		Relationship	Relationship		Abnormal	Transaction	Notes/Accounts Receiv	able (Payable)	Note
			Purchase/Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Ending Balance	% of Total
China Steel Structure Co., Ltd. China Steel Structure Co., Ltd. United Steel Engineering & Construction Corporation United Steel Engineering & Construction Corporation China Ecotek Corporation China Ecotek Corporation China Ecotek Corporation China Ecotek Corporation China Ecotek Vietnam Company Limited China Steel Security Corporation China Steel Security Corporation Steel Castle Technology Corporation Steel Castle Technology Corporation Steel Castle Technology Corporation HIMAG Magnetic Corporation HIMAG Magnetic Corporation China Steel Machinery Corporation China Steel Machinery Corporation China Steel Machinery Corporation China Steel Machinery Corporation China Steel and Nippon Steel Vietnam Joint Stock Company China Steel and Nippon Steel Vietnam Joint Stock Company China Steel and Nippon Steel Vietnam Joint Stock Company China Steel and Nippon Steel Vietnam Joint Stock Company China Steel and Nippon Steel Vietnam Joint Stock Company China Steel and Nippon Steel Vietnam Joint Stock Company China Steel and Nippon Steel Vietnam Joint Stock Company China Steel and Nippon Steel Vietnam Joint Stock Company CSCI Steel Corporation India Pvt. Ltd. Kaohsiung Rapid Transit Corporation China Steel Resources Corporation SingDaMarine Structure Corporation	China Steel Corporation Dragon Steel Corporation China Steel Corporation Dragon Steel Corporation China Steel Corporation Dragon Steel Corporation CSC Solar Corporation China Steel Machinery Corporation China Steel and Nippon Steel Vietnam Joint Stock Company China Steel Corporation Dragon Steel Corporation China Steel Corporation United Steel Engineering & Construction Corporation Dragon Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation Sing Da Marine Structure Corporation Dragon Steel Corporation China Ecotek Corporation NIPPON STEEL & SUMIKIN SALES VIETNAM COMPANY LIMITED NS BlueScope (Vietnam) Limited CSGT Metals Vietnam Joint Stock Company Nippon Steel Trading Vietnam Co., Ltd. China Steel Corporation Nippon Steel & Sumikin Bussan Corporation Formosa Ha Tinh Steel Corporation China Ecotek Vietnam Company Limited China Steel Corporation Taiwan Intelligent Transportation Co., Ltd. China Steel Corporation China Steel PowerCorporation	Parent company The same parent company The ultimate parent of the company The same parent company Parent company The same parent company The same parent company The same parent company The same parent company Parent company The same parent company The ultimate parent of the company The same parent company The same parent company Parent company Parent company Parent company The same parent company The same parent company The same parent company Other related parties Other related parties The same parent company Other related parties Parent company Director of the board Other related parties The same parent company Parent company Subsidiary Parent company The same parent company	Purchases Purchases Construction revenue Construction revenue Construction revenue Construction revenue Construction revenue Purchases Construction revenue Service revenue Service revenue Service revenue Service revenue Service revenue Sales Purchases Construction revenue Construction revenue Construction revenue Construction revenue Sales Sales Sales Sales Purchases Purchases Purchases Purchases Purchases Service revenue and other operating revenue Sales Construction revenue	3,527,556 1,172,289 (2,033,547 ) (260,863 ) (5,690,474 ) (1,196,088 ) (300,190 ) 136,735 (216,878 ) (380,947 ) (118,524 ) (602,157 ) (178,044 ) (174,073 ) (337,879 ) 228,397 (2,508,015 ) (844,647 ) (820,084 ) (135,802 ) (1,857,461 ) (962,873 ) (635,262 ) (231,096 ) 10,454,629 3,590,923 1,208,591 226,606 3,536,390 (138,260 ) (735,050 ) (4,532,369 )	61 20 (33 ) (4 ) (67 ) (14 ) (4 ) 2 (68 ) (25 ) (8 ) (49 ) (14 ) (14 ) (31 ) 34 (41 ) (14 ) (13 ) (2 ) (9 ) (5 ) (3 ) (1 ) 68 23 8 1 99 (7 ) (100 ) (89 )	Letter of credit/Prepaid before shipment date Letter of credit Contractual period Contractual period Contractual period Contractual period Contractual period Contractual period Contractual period By contract terms By contract terms By contract terms By contract terms By contract terms Receivables were collected after final acceptance Letter of credit/Prepaid before shipment date Receivables were collected after final acceptance Receivables were collected after final acceptance Receivables were collected after final acceptance Receivables were collected after final acceptance Accounts receivable, 10 days term Accounts receivable, 60 days term Accounts receivable, 30 days term Accounts receivable, 10 days term 14 days after B/L/Payment to the bank after the Corporation's shipment date 14 days after B/L 08 days after B/L Payment as the end of every month of when invoice is issued Payment to the bank after the Corporation's shipment date Net 30 days from the end of the month of when invoice is issued Net 60 days from the end of the month of when invoice is issued By contract terms	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Payment 7th of next month after accept supplier invoice. Payment 7th of next month after accept supplier invoice.	(25,756 ) (26,516 ) 68,692 13,534 305,299 94,010 81,454 (5,251 ) 172,957 42,438 10,323 36,289 5,594 16,375 20,335 (1,176 ) 41,701 93,020 91,214 5,251 88,716 64,683 31,489 - 19,265 (75,585 ) - (169,108 ) - 26,860 68,250 582,571	(2 ) (2 ) 41 8 42 13 11 (1 ) 96 26 6 35 5 16 23 (5 ) 9 20 19 1 10 7 3 - 1 (4 ) - (8 ) - 7 100 100	Note 2 and 3

112 -

Buyer	Related Party	Relationship		Relationship	Relationship		Abnormal	Transaction	Notes/Accounts Receiv	able (Payable)	Note
			Purchase/Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Ending Balance	% of Total
Sing Da Marine Structure Corporation Sing Da Marine Structure Corporation Sing Da Marine Structure Corporation	China Steel Global Trading Corporation China Steel Machinery Corporation China Steel Structure Co., Ltd.	The same parent company The same parent company The same parent company	Purchases Outsourcing construction fee Outsourcing construction fee	437,331 723,391 411,032	52 11 6	Payment after final acceptance Payment after final acceptance Payment after final acceptance	- - -		- - -	- - -

Note 1: Discharge in June 2022.

Note 2: Balance of accounts receivable refers to prepayments.

Note 3: Purchase amount includes the Corporation's sales commitment to Dragon Steel Corporation.

113 -

TABLE 8

CHINA STEEL CORPORATION AND SUBSIDIARIES

RECEIVABLES FROM RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID-IN CAPITAL DECEMBER 31, 2022

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Company Name	Related Party	Relationship	Ending Balance	Turnover Rate	Overd	ue	Amount Received in Subsequent Period	Allowance for Impairment Loss	Note
					Amount	Actions Taken
China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation Dragon Steel Corporation Dragon Steel Corporation Dragon Steel Corporation Dragon Steel Corporation Betacera Inc. Betacera (Su Zhou) Co., Ltd. Suzhou Betacera Technology Co., Ltd. China Steel Express Corporation China Steel Express Corporation CSE Transport Corporation C.S.Aluminium Corporation China Prosperity Development Corporation Chung Hung Steel Corporation China Steel Chemical Corporation CHC Resources Corporation China Ecotek Corporation China Ecotek Vietnam Company Limited China Steel Machinery Corporation Sing Da Marine Structure Corporation	C.S.Aluminium Corporation Sing Da Marine Structure Corporation Kaohsiung Rapid Transit Corporation China Steel Resources Corporation China Steel Precision Metals Kunshan Co., Ltd. Chung Hung Steel Corporation China Steel Chemical Corporation CSC Steel Sdn. Bhd. China Steel Precision Metals Qingdao Co., Ltd. Chung Hung Steel Corporation China Steel Corporation China Steel Corporation CSC Steel Sdn. Bhd. Betacera (Su Zhou) Co., Ltd. Betacera Inc. Betacera Inc. China Steel Corporation Dragon Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation Changzhou China Steel New Materials Technology Co., Ltd. TAIWAN CEMENT CORPORATION China Steel Corporation China Steel and Nippon Steel Vietnam Joint Stock Company China Steel Corporation China Steel Power Corporation	Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary The same parent company Parent company Parent company The same parent company Subsidiary Parent company Parent company Parent company The same parent company The ultimate parent of the company Parent company Parent company Parent company Subsidiary Director of the board Parent company The same parent company Parent company The same parent company	2,076,719 2,007,795 1,001,925 902,742 350,654 283,971 213,080 180,848 126,936 287,889 271,350 247,485 135,239 173,549 292,661 115,257 489,938 134,125 152,366 224,873 855,401 316,240 159,305 210,499 305,299 172,957 604,147 582,571	- - - - 3 - 14 - 4 43 44 - 64 4 8 6 9 20 6 16 - - 2 4 14 2 - 16	- - - - - - - - - - - - - - - - - - - - - - - 65,676 - - - -	The payment has been received	12,454 - - - 147,053 276,821 208,754 180,848 99,450 287,889 271,350 - 135,239 49,773 160,334 27,566 489,938 134,125 101,000 224,873 - 13,716 - 135,050 302,118 168,736 977 582,571	- - - - - - - - - - - - - - - - - - - - - - - - - - - -	Note Note Note Note Note Note Note Note Note Note

Note: Other receivables.

114 -

TABLE 9

CHINA STEEL CORPORATION AND SUBSIDIARIES

INFORMATION ON INVESTEES FOR THE PERIOD ENDED DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Investor Company	Investee Company	Location	Main Businesses and Products	Original Inves	tment Amount	A	s of Decembe	r 31, 2022	Net Income (Loss) of the Investee	Share of Profit (Loss)	Note
						Number of Shares	%	Carrying Amount
				December 31, 2022	December 31, 2021
China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation	Chung Hung Steel Corporation China Steel Chemical Corporation China Steel Structure Co., Ltd. CHC Resources Corporation China Ecotek Corporation Dragon Steel Corporation CSC Steel Australia Holdings Pty Ltd China Steel Express Corporation C.S.Aluminium Corporation Gains Investment Corporation China Steel and Nippon Steel Vietnam Joint Stock Company China Prosperity Development Corporation China Steel Asia Pacific Holdings Pte Ltd China Steel Power Holding Corporation China Steel Global Trading Corporation CSCI Steel Corporation India Pvt. Ltd. Kaohsiung Rapid Transit Corporation CSC Solar Corporation China Steel Resources Corporation Sing Da Marine Structure Corporation InfoChamp Systems Corporation China Steel Machinery Corporation HIMAG Magnetic Corporation China Steel Security Corporation China Steel Management Consulting Corporation China Steel Power Corporation	Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Australia Republic of China Republic of China Republic of China Vietnam Republic of China Singapore Republic of China Republic of China India Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China	Manufacture and sale of steel products Manufacture of coal chemistry and speciality chemical Manufacture and sale of products of steel structure Manufacture and sale of Ground-Granulated Blast-Furnace Slag and Blast-Furnace Slag Cement, Air-cooled Blast Furnace Slag and Basic Oxygen Furnace Slag, reutilization of resources Environmental engineering, M&E engineering, and O&M engineering Hot-rolled products, H beams, billets, flat steels General investment Shipping services for raw materials Production and sale of aluminum and non-ferrous metal products General investment Manufacture and sale of steel products Real estate development Holding and investment General investment Buy and sell, and act as an agency for steel products Electrical steel Mass Rapid Transit service Solar energy generation Other non-metallic mineral products manufacturing Foundation of offshore wind power ERP systems automation control systems service Manufacture and sale of products for iron and steel equipment, vehicle transportation equipment, power generation and other mechanical equipment Production and sale of industrial magnetic, chemical, and iron oxides On-site security, systematic security Business management and management consulting services Offshore Wind Power Generation	5,539,872 334,285 1,024,194 261,677 554,268 95,779,069 17,359,623 2,504,071 3,922,801 4,999,940 9,651,239 4,749,938 6,251,918 3,773,490 309,502 3,795,159 4,031,501 959,200 981,120 4,671,000 357,602 591,748 389,497 149,940 15,144 -	5,539,872 334,285 1,024,194 261,677 554,268 95,779,069 17,359,623 2,504,071 3,922,801 4,999,940 9,651,239 4,749,938 6,377,638 3,773,490 309,502 3,795,159 4,031,501 959,200 981,120 3,421,000 357,602 591,748 389,497 149,940 15,144 -	582,673,153 68,787,183 66,487,844 49,289,597 55,393,138 8,612,586,123 594,638 422,545,250 840,122,049 559,375,112 514,304,000 509,802,912 178,878,002 377,349,000 78,827,362 253,567,202 120,799,811 95,920,000 98,112,000 122,695,000 41,465,634 100,066,400 19,183,286 25,036,986 999,993 10	41 29 33 20 45 100 100 100 100 100 56 100 100 51 100 100 43 55 100 47 100 74 69 100 100 -	6,696,923 2,350,858 1,351,785 1,091,665 1,048,403 100,847,872 20,732,125 12,980,932 9,010,764 8,069,762 7,517,232 4,919,191 4,900,289 3,864,987 3,253,223 1,384,769 1,181,775 1,052,452 1,001,575 578,236 557,293 510,795 490,574 476,621 20,073 -	(989,929 ) 1,702,810 478,931 755,401 520,519 719,663 2,058,856 2,909,713 724,166 701,832 (1,030,482 ) 247,728 249,271 (89,011 ) 923,413 14,118 214,729 121,014 11,360 (1,987,052 ) 189,126 293,158 99,439 40,350 4,779 (88,621 )	(566,109 ) 469,552 74,471 142,266 104,573 1,551,622 2,058,856 2,923,227 780,987 448,222 (577,070 ) 245,494 254,831 (45,395 ) 902,772 14,118 93,111 67,095 11,588 (939,718 ) 77,733 (88,299 ) 68,325 33,570 4,778 -	Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary

115 -

Investor Company	Investee Company	Location	Main Businesses and Products	Original Inves	tment Amount	A	s of Decembe	r 31, 2022	Net Income (Loss) of the Investee	Share of Profit (Loss)	Note
						Number of Shares	%	Carrying Amount
				December 31, 2022	December 31, 2021
China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation China Steel Corporation Chung Hung Steel Corporation Chung Hung Steel Corporation Chung Hung Steel Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation China Steel Chemical Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation Ever Wealthy International Corporation	United Steel International Co., Ltd. Taiwan Rolling Stock Co., Ltd. Kaohsiung Arena Development Corporation Hsin Hsin Cement Enterprise Corporation Eminent II Venture Capital Corporation Dyna Rechi Co., Ltd. Honley Auto. Parts Co., Ltd. Overseas Investment & Development Corporation TaiAn Technologies Corporation Transglory Investment Corporation Pro-Ascentek Investment Corporation Hung Kao Investment Corporation CHC Resources Corporation China Steel Structure Co., Ltd. Ever Wealthy International Corporation Transglory Investment Corporation CSC Solar Corporation Formosa Ha Tinh CSCC (Cayman) International Limited Pro-Ascentek Investment Corporation HIMAG Magnetic Corporation United Steel International Development Corporation Gau Ruei Investment Corporation Li-Ching-Long Investment Corporation Eminent Venture Capital Corporation Eminent III Venture Capital Corporation TaiAn Technologies Corporation China Steel Structure Co., Ltd. Thintech Materials Technology Co., Ltd. HIMAG Magnetic Corporation Hung-Chuan Investment Corporation Sheng Lih Dar Investment Corporation Ding Da Investment Corporation Honley Auto. Parts Co., Ltd.	Samoa Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Cayman Island Republic of China Republic of China British Virgin Islands Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China	Holding and investment Manufacture of railway vehicles Development of competitive and leisure sports Cement manufacturing, nonmetallic mining, cement and concrete mixing manufacturing General investment Production and marketing of Brushless DC Motor (BLDCM) Manufacture of automotive components General investment Bio-Tech consultants and management General investment General investment General investment Manufacture and sale of Ground-Granulated Blast-Furnace Slag and Blast-Furnace Slag Cement, Air-cooled Blast Furnace Slag and Basic Oxygen Furnace Slag, reutilization of resources Manufacture and sale of products of steel structure General investment General investment Solar energy generation General investment General investment Production and sale of industrial magnetic, chemical, and iron oxides Holding and investment General investment General investment General Investment General investment Bio-Tech consultants and management Manufacture and sale of products of steel structure Sputtering target manufacturing and sales Production and sale of industrial magnetic, chemical, and iron oxides General investment General investment General investment Manufacture of automotive components	- 970,044 450,000 320,929 300,000 400,000 591,639 50,000 7,629 2,001,152 200,000 26,000 91,338 13,675 300,083 450,000 261,600 100,320 60,000 47,950 68,839 15,070 7,000 6,750 160,000 2,295 27,196 45,987 33,015 9,000 8,400 10,495 70,985	269,141 970,044 450,000 320,929 300,000 400,000 825,000 50,000 7,629 2,001,152 200,000 26,000 91,338 13,675 300,083 450,000 261,600 100,320 60,000 47,950 68,839 15,070 7,000 13,500 160,000 2,295 - 45,987 33,015 9,000 8,400 10,495 -	- 95,527,811 45,000,000 28,658,729 30,000,000 24,635,680 35,751,427 5,000,000 1,666,700 306,824,279 20,000,000 2,600,000 15,019,341 600,069 104,574,982 69,000,960 26,160,000 3,000,000 6,000,000 2,161,203 2,450,000 1,196,000 700,000 675,000 16,000,000 499,998 496,000 6,119,748 1,584,731 900,000 840,000 897,000 6,269,823	- 48 18 31 46 23 35 6 17 41 17 100 6 - 100 9 15 50 5 8 5 40 35 5 9 5 - 8 6 45 35 30 6	- 790,811 558,955 377,680 281,306 254,205 125,588 65,254 23,599 3,508,557 193,341 36,245 356,339 15,760 1,284,865 788,982 286,346 81,038 58,002 55,635 37,020 33,607 18,378 7,020 121,934 7,078 13,133 99,477 40,785 23,631 21,922 20,525 73,514	6,129 (59,842 ) 193,112 44,517 149,702 4,761 18,755 72,596 16,427 832,427 37,820 2,296 755,401 478,931 15,625 832,427 121,014 139 37,820 99,439 201,518 9,095 4,972 19,776 10,355 16,427 478,931 82,003 99,439 4,972 6,363 8,379 18,755	4,429 (28,581 ) 34,760 16,138 69,237 1,116 6,605 4,031 2,738 - - - - - - - - - - - - - - - - - - - - - - - -	Subsidiary Associate Associate Associate Associate Associate Associate Associate Associate Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Associate Associate Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Associate

116 -

Investor Company	Investee Company	Location	Main Businesses and Products	Original Inves	tment Amount	A	s of Decembe	r 31, 2022	Net Income (Loss) of the Investee	Share of Profit (Loss)	Note
						Number of Shares	%	Carrying Amount
				December 31, 2022	December 31, 2021
China Ecotek Corporation China Ecotek Corporation China Ecotek Corporation China Ecotek Corporation China Ecotek Corporation China Ecotek Corporation China Ecotek Corporation China Ecotek Corporation China Ecotek Corporation China Ecotek Corporation China Ecotek Corporation China Ecotek Corporation CEC International Corporation CEC Development Corporation China Steel Structure Co., Ltd. China Steel Structure Co., Ltd. China Steel Structure Co., Ltd. China Steel Structure Co., Ltd. China Steel Structure Co., Ltd. China Steel Structure Co., Ltd. China Steel Structure Co., Ltd. China Steel Structure Co., Ltd. China Steel Structure Co., Ltd. China Steel Structure Co., Ltd. China Steel Structure Co., Ltd. United Steel Engineering & Construction Corporation United Steel Engineering & Construction Corporation United Steel Engineering & Construction Corporation United Steel Engineering & Construction Corporation United Steel Engineering & Construction Corporation United Steel Engineering & Construction Corporation	CEC Development Corporation China Steel Machinery Corporation CSC Solar Corporation Pro-Ascentek Investment Corporation CEC International Corporation Chiun Yu Investment Corporation Chi-Yi Investment Corporation Jiing-Cherng-Fa Investment Corporation Hung-Chuan Investment Corporation United Steel International Development Corporation China Ecotek India Private Limited Eminent III Venture Capital Corporation China Ecotek India Private Limited China Ecotek Vietnam Company Limited CHC Resources Corporation United Steel Engineering & Construction Corporation Sing Da Marine Structure Corporation Pro-Ascentek Investment Corporation Chiun Yu Investment Corporation China Steel Structure Holding Co., Ltd. HIMAG Magnetic Corporation Chi-Yi Investment Corporation Li-Ching-Long Investment Corporation Wabo Global Trading Corporation Nikken & CSSC Metal Products Co., Ltd. United Steel Investment Pte Ltd China Prosperity Construction Corporation United Steel Construction (Vietnam) Co., Ltd. Shin Mau Investment Corporation Pro-Ascentek Investment Corporation Kaohsiung Rapid Transit Corporation	Samoa Republic of China Republic of China Republic of China Samoa Republic of China Republic of China Republic of China Republic of China British Virgin Islands India Republic of China India Vietnam Republic of China Republic of China Republic of China Republic of China Republic of China Samoa Republic of China Republic of China Republic of China Republic of China Republic of China Singapore Republic of China Vietnam Republic of China Republic of China Republic of China	Holding and investment Manufacture and sale of products for iron and steel equipment, vehicle transportation equipment, power generation and other mechanical equipment Solar energy generation General investment Holding and investment General investment General investment General investment General investment Holding and investment Projects designs, construction and related services General investment Projects designs, construction and related services Projects designs, construction and related services Manufacture and sale of Ground-Granulated Blast-Furnace Slag and Blast-Furnace Slag Cement, Air-cooled Blast Furnace Slag and Basic Oxygen Furnace Slag, reutilization of resources Construction and management of buildings, roads and railways, and other civil engineering projects Foundation of offshore wind power General investment General investment Holding and investment Production and sale of industrial magnetic, chemical, and iron oxides General investment General investment Buy and sell, and act as an agency for steel products Building materials wholesale industry, pollution prevention equipment wholesale industry, etc. Holding and investment Real estate development Construction and management of buildings, roads and railways, and other civil engineering projects General investment General investment Mass Rapid Transit service	478,579 329,174 348,800 60,000 30,642 14,233 8,000 8,050 6,000 8,262 27 100,000 27,070 302,065 132,715 410,000 250,000 40,000 12,453 - 17,080 6,000 6,000 1,500 6,750 126,806 53,550 33,129 13,754 20,000 15,433	494,146 329,174 348,800 60,000 30,642 14,233 8,000 8,050 6,000 8,262 27 100,000 27,070 302,065 132,715 410,000 - 40,000 12,453 - 17,080 6,000 6,000 1,500 6,750 126,806 53,550 33,129 13,754 20,000 15,433	17,000,000 35,204,170 34,880,000 6,000,000 10,000,000 1,196,000 800,000 805,000 600,000 300,000 5,000 10,000,000 4,995,000 - 23,182,738 80,000,000 20,000,000 4,000,000 1,046,500 10 769,829 600,000 600,000 714,000 675,000 4,180,000 5,355,000 - 1,196,000 2,000,000 1,543,276	100 26 20 5 100 40 40 35 30 1 - 6 100 100 9 100 8 3 35 100 3 30 30 6 45 100 40 100 40 2 1	986,012 529,821 280,240 58,002 41,017 30,217 21,145 19,602 15,754 4,516 38 76,209 37,816 795,205 550,437 1,445,489 94,189 38,630 26,440 24,221 19,824 15,859 15,753 8,679 5,015 147,379 58,738 56,445 29,228 19,373 14,989	30,774 293,158 121,014 37,820 914 6,379 5,007 5,847 4,972 201,518 591 10,355 591 27,227 755,401 66,390 (1,987,052 ) 37,820 6,379 13,412 99,439 5,007 4,972 26,122 509 6,501 (4,572 ) (3,090 ) 7,329 37,820 214,729	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Associate Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Associate Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary

117 -

Investor Company	Investee Company	Location	Main Businesses and Products	Original Inves	tment Amount	A	s of Decembe	r 31, 2022	Net Income (Loss) of the Investee	Share of Profit (Loss)	Note
						Number of Shares	%	Carrying Amount
				December 31, 2022	December 31, 2021
United Steel Engineering & Construction Corporation United Steel Engineering & Construction Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation CHC Resources Corporation China Steel Security Corporation China Steel Security Corporation China Steel Security Corporation China Steel Security Corporation China Prosperity Development Corporation China Prosperity Development Corporation China Prosperity Development Corporation China Prosperity Development Corporation China Prosperity Development Corporation China Prosperity Development Corporation HIMAG Magnetic Corporation China Steel Power Holding Corporation CSC Solar Corporation CSC Solar Corporation InfoChamp Systems Corporation InfoChamp Systems Corporation InfoChamp Systems Corporation	Kaohsiung Arena Development Corporation Overseas Investment & Development Corporation CHC Resources Vietnam Co., Ltd Yu Cheng Lime Corporation Union Steel Development Corporation Pao Good Industrial Co., Ltd. Gau Ruei Investment Corporation Pro-Ascentek Investment Corporation Ding Da Investment Corporation Sheng Lih Dar Investment Corporation Jiing-Cherng-Fa Investment Corporation Shin Mau Investment Corporation HIMAG Magnetic Corporation United Steel International Development Corporation Hsin Hsin Cement Enterprise Corporation Eminent III Venture Capital Corporation Steel Castle Technology Corporation Kaohsiung Rapid Transit Corporation China Steel Management And Maintenance For Buildings Corporation Eminent III Venture Capital Corporation Chateau International Development Co., Ltd. CK Japan Co., Ltd. Kaohsiung Rapid Transit Corporation China Prosperity Construction Corporation Pro-Ascentek Investment Corporation Kaohsiung Arena Development Corporation MagnPower Corporation China Steel Power Corporation China Ecotek Corporation Pro-Ascentek Investment Corporation Universal Exchange Inc. Kaohsiung Rapid Transit Corporation Info-Champ System (B.V.I) Corporation	Republic of China Republic of China Vietnam Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China British Virgin Islands Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Japan Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China British Virgin Islands	Development of competitive and leisure sports General investment Manufacture and sale of Ground-Granulated Blast-Furnace Slag, Sales of Granulated Blast-Furnace Slag Real estate lease, management of raw materials Manufacture and sale of iron powder, OEM and sales of refractory, trading, human dispatch Sales of fly ash, manufacture and sales of dry-mix mortar, trading General investment General investment General investment General investment General investment General investment Production and sale of industrial magnetic, chemical, and iron oxides Holding and investment Cement manufacturing, nonmetallic mining, cement and concrete mixing manufacturing General investment Firefighting engineering and mechatronic engineering Mass Rapid Transit service Management and maintenance for buildings General investment Development of leisure business Real estate lease Mass Rapid Transit service Real estate development General investment Development of competitive and leisure sports Powder metallurgy Offshore Wind Power Generation Environmental engineering, M&E engineering, and O&M engineering General investment Wholesale of computer software, software design services, digital information supply services Mass Rapid Transit service Holding and investment	100,000 44,100 647,338 126,010 53,345 50,937 12,306 30,000 12,516 9,600 9,200 10,316 10,970 8,254 73,269 30,000 31,257 17,000 10,000 10,000 131,921 151,526 130,000 92,105 50,000 175,000 218,000 7,393,000 22,974 30,000 60,784 40,265 6,816	100,000 44,100 647,338 126,010 53,345 50,937 12,306 30,000 12,516 9,600 9,200 10,316 10,970 8,254 73,269 30,000 31,257 17,000 10,000 10,000 131,921 151,526 130,000 92,105 50,000 175,000 218,000 7,393,000 22,974 30,000 60,784 40,265 6,816	10,000,000 4,410,000 - 108,000 4,668,333 5,408,550 1,046,500 3,000,000 1,196,000 960,000 920,000 897,000 494,440 300,000 9,298,583 3,000,000 13,000,000 1,700,000 1,000,000 1,000,000 22,491,623 3,840 13,000,000 8,032,500 5,000,000 17,500,000 21,800,000 739,299,990 725,000 3,000,000 5,825,030 5,200,319 201,000	4 5 85 90 93 51 35 3 40 40 40 30 2 1 10 2 100 1 100 1 20 80 5 60 4 7 55 100 1 3 35 2 100	124,212 57,204 651,735 139,217 118,618 84,952 29,406 29,001 27,367 25,054 22,403 21,921 12,719 4,516 114,142 22,863 189,162 16,624 14,969 7,621 390,114 172,989 127,272 88,107 48,336 217,371 90,161 7,623,194 25,533 29,001 73,401 50,962 34,012	193,112 72,596 (45,567 ) 612 53,223 5,666 9,095 37,820 8,379 6,363 5,847 7,329 99,439 201,518 44,517 10,355 (67,944 ) 214,729 1,919 10,355 154,388 11,222 214,729 (4,572 ) 37,820 193,112 (35,454 ) (88,621 ) 520,519 37,820 31,693 214,729 8,232	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Associate Associate Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Associate Associate Subsidiary Subsidiary Subsidiary Associate Associate Subsidiary Subsidiary Subsidiary Subsidiary Associate Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary

118 -

Investor Company	Investee Company	Location	Main Businesses and Products	Original Inves	tment Amount	A	s of Decembe	r 31, 2022	Net Income (Loss) of the Investee	Share of Profit (Loss)	Note
						Number of Shares	%	Carrying Amount
				December 31, 2022	December 31, 2021
InfoChamp Systems Corporation Kaohsiung Rapid Transit Corporation China Steel Machinery Corporation China Steel Machinery Corporation China Steel Machinery Corporation Dragon Steel Corporation Dragon Steel Corporation Dragon Steel Corporation C.S.Aluminium Corporation C.S.Aluminium Corporation ALU Investment Offshore Corporation China Steel Express Corporation China Steel Express Corporation China Steel Express Corporation Transglory Investment Corporation Transglory Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Gains Investment Corporation Thintech Materials Technology Co., Ltd. Thintech Materials Technology Co., Ltd. Betacera Inc. Betacera Inc. Universal Exchange Inc.	Majestic Solid Light Corporation Taiwan Intelligent Transportation Co., Ltd. Sing Da Marine Structure Corporation China Steel Machinery Vietnam Co., Ltd. Overseas Investment & Development Corporation China Steel Structure Co., Ltd. CSC Solar Corporation Pro-Ascentek Investment Corporation ALU Investment Offshore Corporation Pro-Ascentek Investment Corporation United Steel International Development Corporation CSE Transport Corporation Transglory Investment Corporation Kaoport Stevedoring Corporation China Steel Structure Co., Ltd. Winning Investment Corporation Thintech Materials Technology Co., Ltd. Winning Investment Corporation Eminence Investment Corporation Betacera Inc. Universal Exchange Inc. Eminent Venture Capital Corporation Pro-Ascentek Investment Corporation Mentor Consulting Corporation United Steel International Development Corporation Fukuta Electric & Machinery Co., Ltd. Eminent III Venture Capital Corporation Honley Auto. Parts Co., Ltd. Thintech Global Limited Pro-Ascentek Investment Corporation Lefkara Ltd. Eminent III Venture Capital Corporation Pro-Ascentek Investment Corporation	Republic of China Republic of China Republic of China Vietnam Republic of China Republic of China Republic of China Republic of China British Virgin Islands Republic of China British Virgin Islands Panama Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China British Virgin Islands Republic of China Republic of China Republic of China Samoa Republic of China British Virgin Islands Republic of China Republic of China	Manufacture and sale of UV LED Technical service Foundation of offshore wind power Machines manufacturing General investment Manufacture and sale of products of steel structure Solar energy generation General investment Holding and investment General investment Holding and investment Shipping services for raw materials General investment Ship cargo loading and unloading industry Manufacture and sale of products of steel structure General investment Sputtering target manufacturing and sales General investment General investment Manufacturing and trading of electronic ceramics Wholesale of computer software, software design services, digital information supply services General Investment General investment Management consulting services Holding and investment Motor manufacturing and selling General investment Manufacture of automotive components Holding and investment General investment Holding and Investment General investment General investment	4,500 26,000 250,000 9,213 95,900 130,826 174,400 100,000 1,063,593 30,000 1,063,593 316 2,440,000 35,013 94,786 321,331 212,912 989,664 1,600,000 150,165 170,432 67,500 60,000 25,909 58,784 591,731 400,000 104,246 205,435 30,000 418,362 50,000 20,000	4,500 26,000 - 8,304 95,900 98,266 174,400 100,000 1,063,593 30,000 1,063,593 316 2,440,000 35,013 - 321,331 212,912 989,664 1,600,000 150,165 170,432 135,000 60,000 25,909 58,784 525,222 400,000 63,311 205,435 30,000 377,085 50,000 20,000	450,000 2,600,000 20,000,000 - 9,590,000 4,086,000 17,440,000 10,000,000 1 3,000,000 31,650,000 10 374,138,548 3,275,000 1,688,000 20,700,000 23,423,016 112,700,000 150,000,000 20,555,253 10,533,713 6,750,000 6,000,000 1,000,000 1,850,000 8,396,874 40,000,000 8,642,160 6,800,000 3,000,000 13,623,000 5,000,000 2,000,000	45 100 8 100 11 2 10 8 100 3 65 100 50 66 1 9 32 49 100 48 64 50 5 100 4 19 22 8 100 3 100 3 2	- 29,576 94,189 18,070 124,448 107,322 190,897 96,671 478,238 29,001 478,229 4,316,954 4,278,511 52,286 43,703 354,085 380,590 1,927,798 1,712,656 987,046 132,730 70,204 58,002 29,630 27,987 716,385 307,281 96,368 61,976 29,001 1,517,348 37,582 19,334	- 586 (1,987,052 ) 2,592 72,596 478,931 121,014 37,820 131,215 37,820 201,518 432,820 832,427 17,646 478,931 475,866 82,003 475,866 111,697 314,761 31,693 19,776 37,820 5,879 201,518 45,841 10,355 18,755 6,494 37,820 119,673 10,355 37,820	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Associate Subsidiary Subsidiary Subsidiary Associate Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Associate Associate Associate Subsidiary Subsidiary Subsidiary Associate Subsidiary

119 -

Investor Company	Investee Company	Location	Main Businesses and Products	Original Inves	tment Amount	A	s of Decembe	r 31, 2022	Net Income (Loss) of the Investee	Share of Profit (Loss)	Note
						Number of Shares	%	Carrying Amount
				December 31, 2022	December 31, 2021
Pro-Ascentek Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Eminence Investment Corporation Shin Mau Investment Corporation Shin Mau Investment Corporation Shin Mau Investment Corporation Shin Mau Investment Corporation Ding Da Investment Corporation Ding Da Investment Corporation Ding Da Investment Corporation Ding Da Investment Corporation Jiing-Cherng-Fa Investment Corporation Gau Ruei Investment Corporation Gau Ruei Investment Corporation Gau Ruei Investment Corporation Sheng Lih Dar Investment Corporation Chiun Yu Investment Corporation Chiun Yu Investment Corporation China Steel Global Trading Corporation China Steel Global Trading Corporation China Steel Global Trading Corporation China Steel Global Trading Corporation China Steel Global Trading Corporation	Betacera Inc. Shin Mau Investment Corporation Gau Ruei Investment Corporation Ding Da Investment Corporation Chiun Yu Investment Corporation Li-Ching-Long Investment Corporation Chi-Yi Investment Corporation Sheng Lih Dar Investment Corporation Jiing-Cherng-Fa Investment Corporation Hung-Chuan Investment Corporation Fukuta Electric & Machinery Co., Ltd. CHC Resources Corporation China Steel Structure Co., Ltd. Hung-Chuan Investment Corporation Chi-Yi Investment Corporation China Steel Chemical Corporation Jiing-Cherng-Fa Investment Corporation Betacera Inc. Universal Exchange Inc. China Ecotek Corporation China Steel Chemical Corporation Li-Ching-Long Investment Corporation Sheng Lih Dar Investment Corporation CHC Resources Corporation China Ecotek Corporation China Steel Structure Co., Ltd. CSGT International Corporation CSGT (Singapore) Pte. Ltd. Chung Mao Trading (Samoa) Corporation Wabo Global Trading Corporation United Steel International Development Corporation	Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Republic of China Samoa Singapore Samoa Republic of China British Virgin Islands	Manufacturing and trading of electronic ceramics General investment General investment General investment General investment General investment General investment General investment General investment General investment Motor manufacturing and selling Manufacture and sale of Ground-Granulated Blast-Furnace Slag and Blast-Furnace Slag Cement, Air-cooled Blast Furnace Slag and Basic Oxygen Furnace Slag, reutilization of resources Manufacture and sale of products of steel structure General investment General investment Manufacture of coal chemistry and speciality chemical General investment Manufacturing and trading of electronic ceramics Wholesale of computer software, software design services, digital information supply services Environmental engineering, M&E engineering, and O&M engineering Manufacture of coal chemistry and speciality chemical General investment General investment Manufacture and sale of Ground-Granulated Blast-Furnace Slag and Blast-Furnace Slag Cement, Air-cooled Blast Furnace Slag and Basic Oxygen Furnace Slag, reutilization of resources Environmental engineering, M&E engineering, and O&M engineering Manufacture and sale of products of steel structure Holding and investment Buy and sell, and act as an agency for steel products Holding and investment Buy and sell, and act as an agency for steel products Holding and investment	77,278 9,513 8,805 8,970 7,475 6,262 5,222 5,317 4,762 4,173 23,513 5,454 5,619 1,000 990 17,404 990 25 17 7,874 17,584 1,000 1,000 5,678 5,764 3,559 631,983 22,600 127,847 11,000 69,232	77,278 9,513 8,805 8,970 7,475 6,262 5,222 5,317 4,762 4,173 10,395 5,454 5,619 1,000 990 17,404 990 25 17 7,874 17,584 1,000 1,000 5,678 5,764 3,559 631,983 22,600 212,822 11,000 69,232	1,608,491 896,999 747,499 897,000 747,500 600,000 501,000 500,000 476,000 400,000 179,125 512,685 341,896 100,000 99,000 474,220 99,000 1,000 1,600 302,052 474,220 100,000 100,000 512,535 275,469 275,896 20,740,000 6,100,000 8,800,000 5,236,000 2,220,000	4 30 25 30 25 30 25 21 21 20 - - - 5 5 - 4 - - - - 5 4 - - - 100 100 100 44 5	88,999 21,921 21,004 20,525 18,886 15,753 13,242 13,047 11,593 10,503 23,329 12,231 8,803 2,626 2,617 15,741 2,408 48 20 8,229 15,741 2,625 2,612 12,231 7,543 7,249 1,188,483 1,062,286 576,999 63,645 33,545	314,761 7,329 9,095 8,379 6,379 4,972 5,007 6,363 5,847 4,972 45,841 755,401 478,931 4,972 5,007 1,702,810 5,847 314,761 31,693 520,519 1,702,810 4,972 6,363 755,401 520,519 478,931 147,330 537,208 12,047 26,122 201,518	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Associate Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary

120 -

Investor Company	Investee Company	Location	Main Businesses and Products	Original Inves	tment Amount	A	s of Decembe	r 31, 2022	Net Income (Loss) of the Investee	Share of Profit (Loss)	Note
						Number of Shares	%	Carrying Amount
				December 31, 2022	December 31, 2021
China Steel Global Trading Corporation China Steel Global Trading Corporation China Steel Global Trading Corporation Wabo Global Trading Corporation Wabo Global Trading Corporation Chung Mao Trading (Samoa) Corporation Chung Mao Trading (BVI) Corporation CSGT International Corporation CSGT International Corporation CSGT International Corporation CSGT International Corporation CSGT (Singapore) Pte. Ltd. CSC Steel Australia Holdings Pty Ltd CSC Steel Australia Holdings Pty Ltd China Steel Asia Pacific Holdings Pte Ltd CSC Steel Holdings Berhad CSC Steel Holdings Berhad CSC Steel Sdn. Bhd.	CSGT Trading India Private Limited Chung Mao Trading (BVI) Corporation Honley Auto. Parts Co., Ltd. CK Japan Co., Ltd. CSGT Japan Co., Ltd. United Steel International Co., Ltd. CSGT Hong Kong Limited CSGT Metals Vietnam Joint Stock Company CSGT Trading India Private Limited TSK Steel Company Limited Mahindra Auto Steel Private Limited CSCD SA CSC Sonoma Pty Ltd 9404-5515 Quebec Inc. CSC Steel Holdings Berhad CSC Steel Sdn. Bhd. Group Steel Corporation (M) Sdn. Bhd. Constant Mode Sdn. Bhd.	India British Virgin Islands Republic of China Japan Japan Samoa Hong Kong Vietnam India Thailand India Switzerland Australia Canada Malaysia Malaysia Malaysia Malaysia	Buy and sell, and act as an agency for steel products Holding and investment Manufacture of automotive components Real estate lease Buy and sell, and act as an agency for steel products Holding and investment Buy and sell, and act as an agency for steel products Cutting and processing of steel products Buy and sell, and act as an agency for steel products Steel coil processing and distributing Cutting and processing of steel products International trade and investment Investments in mining industry Investments in mining industry General investment Manufacture and sale of steel products General investment General investment	240 - - 37,488 10,160 - - 265,799 23,881 88,694 84,699 116,736 342,445 5,499,616 1,112,821 2,926,076 497,957 5,024	240 18,741 63,311 37,488 10,160 77,628 3,555 239,574 21,524 79,943 76,342 104,389 330,115 5,301,598 1,003,024 2,775,819 472,386 4,766	48,000 - - 960 800 - - 13,279,770 4,752,000 408,000 16,782,500 1,876,795 16,440,001 270,122,727 171,000,000 359,000,000 1,000,000 750,000	1 - - 20 100 - - 60 99 34 25 49 100 25 46 100 100 100	271 - - 43,047 27,617 - - 409,103 26,869 207,321 113,969 998,146 184,940 8,126,994 2,671,644 5,633,645 18,051 6,831	5,410 (717 ) 18,755 11,222 2,845 6,129 - 116,217 5,409 46,127 84,965 995,927 (12,793 ) 3,501,592 121,875 122,028 (69 ) 175	- - - - - - - - - - - - - - - - - -	Subsidiary Subsidiary Associate Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Associate Associate Associate Subsidiary Associate Subsidiary Subsidiary Subsidiary Subsidiary

121 -

TABLE 10

CHINA STEEL CORPORATION AND SUBSIDIARIES

INFORMATION ON INVESTMENTS IN MAINLAND CHINA FOR THE PERIOD ENDED DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Investee Company	Main Businesses and Products	Paid-in Capital (Note 1)	Method of Investment (Note 2)	Accumulated Outward Remittance for Investment from Taiwan as of January 1, 2022 (Note 1)	Remittanc	e of Funds	Accumulated Outward Remittance for Investment from Taiwan as of December 31, 2022 (Note 1)	Net Income (Loss) of the Investee	% Ownership of Direct or Indirect Investment	Investment Gain (Loss)	Carrying Amount as of December 31, 2022	Accumulated Repatriation of Investment Income as of December 31, 2022	Note
					Outward	Inward
Betacera (Su Zhou) Co., Ltd. CSGT (Shanghai) Co., Ltd. Changzhou China Steel Precision Materials Co., Ltd. China Steel Precision Metals Qingdao Co., Ltd. Changzhou China Steel New Materials Technology Co., Ltd. CSGT (Shenzhen) Co., Ltd. HC&C Auto Parts Co., Ltd. Wuhan HUADET Environmental Protection Engineering & Technology Co., Ltd. Ningbo Huayang Aluminium-Tech Co., Ltd. Suzhou Betacera Technology Co., Ltd. Shanghai Xike Ceramic Electronic Co., Ltd. Taicang Thintech Materials Co., Ltd. China Steel Precision Metals Kunshan Co., Ltd. Wuhan InfoChamp I.T. Co., Ltd. Xiamen Ecotek PRC Company Limited	Manufacturing and trading of electronic ceramics Buy and sell, and act as an agency for steel products Production and sale of titanium and titanium alloys, nickel and nickel alloys Cutting and processing of steel products Mesophase sales and trading Buy and sell, and act as an agency for steel products Manufacture of automotive components Consulting services of construction technology Production of aluminum products Manufacturing and trading of aeronautical or marine life saving products Manufacturing and trading of electronic ceramics Sputtering target manufacturing and sales Cutting and processing of steel products Enterprise information system integration services Sales agency for import and export ofequipment andmaterials	135,124 18,426 1,338,956 614,200 176,100 24,568 1,228,400 - 1,504,790 460,650 36,852 208,828 460,650 6,142 184,260	2 2 2 1 1 1 2 2 2 2 2 2 1 2 2	135,124 18,426 937,269 429,940 199,799 15,969 122,840 12,458 1,190,628 460,650 36,668 208,828 493,203 6,142 184,260	- - - - - - - - - - - - - - -	- - - - - - - 12,458 - - - - - - -	135,124 18,426 937,269 429,940 199,799 15,969 122,840 - 1,190,628 460,650 36,668 208,828 493,203 6,142 184,260	79,316 48 238,661 (38,608) 14,666 2,609 22,649 - 201,875 31,720 8,416 6,494 7,983 8,318 3,249	100 100 70 70 100 65 10 - 79 100 100 100 100 100 100	79,316 48 167,062 (27,004) 14,666 1,696 2,265 - 159,723 31,720 8,374 6,494 7,983 8,318 3,249	596,289 29,126 1,211,261 383,468 180,191 17,771 118,824 - 578,864 622,092 146,796 61,976 458,763 34,076 184,664	- 46,588 - 17,044 - 6,406 - - 93,743 - - - - 55,453 -	Note 3 (1) Note 3 (1) Note 3 (1) Note 3 (1) Note 3 (1) Note 3 (1) Note 3 (1) Note 4 Note 3 (1) Note 3 (1) Note 3 (1) Note 3 (1) Note 3 (1) Note 3 (1) Note 3 (1)

Investee Company	Accumulated Outward Remittance for Investment in Mainland China as of December 31, 2022 (Note 1)	Investment Amount Authorized by Investment Commission, MOEA (Note 1)	Upper Limit on the Amount of Investment Stipulated by Investment Commission, MOEA (Note 5)
China Steel Corporation China Steel Chemical Corporation China Ecotek Corporation C.S.Aluminium Corporation Gains Investment Corporation Thintech Materials Technology Co., Ltd. Betacera Inc. China Steel Global Trading Corporation Infochamp Systems Corporation CHC Resources Corporation	1,060,109 275,039 193,473 971,972 56,814 208,828 632,442 1,025,714 6,142 9,213	1,060,109 275,039 279,446 971,972 56,814 208,828 632,442 1,025,714 6,142 9,213	191,941,336 4,796,708 2,106,624 5,425,548 4,881,329 716,518 1,232,523 - 536,116 3,539,788

122 -

Note 1: The amounts were calculated based on the foreign exchange rate as of December 31, 2022.

Note 2: Methods of investment are classified as below:
1) Direct investment.
2) Investments through a holding company registered in a third region.

Note 3: The basis for recognition of investment income (loss) is based on the following:

1) From the financial statements reviewed and attested by R.O.C. parent company’s CPA.
2) From the investee company, which had not been audited and attested by independent accountants.
Note 4: Huade was disposed in September 2021, and the proceeds were remitted into Taiwan in January 2022.
Note 5: As the subsidiary CSGT has obtained the certificate of qualified for operating headquarters, which is due on April 28, 2024, issued by the Industrial Development Bureau, MOEA, the limit on investment in Mainland China pursuant to “Principle of investment or Technical Cooperation in Mainland China” is not applicable, while other companies, investments shall not exceed 60% of their net worth.
123 -

TABLE 11

CHINA STEEL CORPORATION AND SUBSIDIARIES

INFORMATION OF MAJOR SHAREHOLDERS DECEMBER 31, 2022

Name of The Shareholder	Shares	Shares
	Number of Shares Owned	Percentage of Ownership
The Ministry of Economic Affairs, R.O.C.	3,154,709,357	20%

Note 1: Major shareholders in the Table above are shareholders owning 5% or more of the Corporation’s common and preferred stocks (only ones that have completed dematerialized registration and delivery) based on calculations performed by the Taiwan Depository & Clearing Corporation using data as of the last business date at the end of each quarter. The amount of capital in the consolidated financial statements may differ from the Corporation’s actual number of stocks that have completed dematerialized registration and delivery due to different calculation bases.

Note 2: Where the stocks are entrusted by shareholders, information is disclosed by the individual account of settlor who has segregated trust accounts opened by trustees. As for shareholders filing shareholdings of insiders with 10% or more of the Corporation’s stocks pursuant to the securities and exchange laws and regulations, the number of stocks owned shall be ones owned by the persons plus ones entrusted where the shareholders have the power to decide how to utilize the trust property. Please access the Market Observation Post System website for information on insiders’ shareholding filings.
124 -

THE CONTENTS OF STATEMENTS OF MAJOR ACCOUNTING ITEMS

ITEM STATEMENT INDEX

MAJOR ACCOUNTING ITEMS IN ASSETS, LIABILITIES AND EQUITY STATEMENT OF CASH AND CASH EQUIVALENTS 1 STATEMENT OF FINANCIAL ASSETS FOR HEDGING - Notes 9 & 28 CURRENT STATEMENT OF NOTES RECEIVABLE 2 STATEMENT OF ACCOUNTS RECEIVABLE 3 STATEMENT OF OTHER RECEIVABLES 4 STATEMENT OF INVENTORIES 5 STATEMENT OF OTHER FINANCIAL ASSETS 6 STATEMENT OF OTHER CURRENT ASSETS 7 STATEMENT OF CHANGES IN FINANCIAL ASSETS AT 8 FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME - NONCURRENT STATEMENT OF CHANGES IN FINANCIAL ASSETS AT 9 FAIR VALUE THROUGH PROFIT OR LOSS - NONCURRENT STATEMENT OF FINANCIAL ASSETS FOR HEDGING - Notes 9 & 28 NONCURRENT STATEMENT OF CHANGES IN INVESTMENTS 10 ACCOUNTED FOR USING THE EQUITY METHOD STATEMENT OF CHANGES IN PROPERTY, PLANT AND Note 14 EQUIPMENT STATEMENT OF CHANGES IN ACCUMULATED Note 14 DEPRECIATION AND IMPAIRMENT OF PROPERTY, PLANT AND EQUIPMENT STATEMENT OF CHANGES IN RIGHT-OF-USE ASSETS 11 STATEMENT OF CHANGES IN ACCUMULATED 11 DEPRECIATION OF RIGHT-OF-USE ASSETS STATEMENT OF CHANGES IN INVESTMENT PROPERTIES Note 16 STATEMENT OF CHANGES IN ACCUMULATED Note 16 DPRECIATION OF INVESTMENT PROPERTIES STATEMENT OF DEFERRED TAX ASSETS Note 25 STATEMENT OF SHORT-TERM BORROWINGS AND BANK 12 OVERDRAFT STATEMENT OF FINANCIAL LIABILITIES FOR HEDGING - Notes 9 & 28 CURRENT STATEMENT OF SHORT-TERM BILLS PAYABLE 13 STATEMENT OF ACCOUNTS PAYABLE 14 STATEMENT OF OTHER PAYABLES Note 19 STATEMENT OF PROVISIONS- CURRENT Note 20 STATEMENT OF OTHER CURRENT LIABILITIES 15 STATEMENT OF FINANCIAL LIABILITIES FOR HEDGING - Notes 9 & 28 NONCURRENT STATEMENT OF BONDS PAYABLE 16 STATEMENT OF LONG-TERM BANK BORROWINGS 17 STATEMENT OF LEASE LIABILITIES 18 STATEMENT OF LONG-TERM BILLS PAYABLE 19 STATEMENT OF DEFERRED TAX LIABILITIES Note 25 MAJOR ACCOUNTING ITEMS IN PROFIT OR LOSS STATEMENT OF OPERATING REVENUE 20 STATEMENT OF OPERATING COSTS 21 STATEMENT OF OPERATING EXPENSES 22 STATEMENT OF OTHER GAINS AND LOSSES Note 24 (3) STATEMENT OF FINANCE COSTS Note 24 (4) STATEMENT OF EMPLOYEE BENEFITS, DEPRECIATION 23 AND AMORTIZATION

125 -

STATEMENT 1

CHINA STEEL CORPORATION

STATEMENT OF CASH AND CASH EQUIVALENTS DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Item Maturity Date Interest Rates (%) Cash on hand - including JPY9,000 thousand (Note) Checking accounts and demand deposits Foreign currency deposits - including US$104,306 thousand, JPY111,364 thousand, CNY33,655 thousand, EUR6 thousand and AUD244 thousand (Note)	Amount $ 18,412 160,105 3,382,738
	$ 3,561,255

Note: US$1=NT$30.71, JPY1=NT$0.2324, CNY1=NT$4.408, EUR1=NT$32.72, AUD$1=NT$20.83.

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STATEMENT 2

CHINA STEEL CORPORATION

STATEMENT OF NOTES RECEIVABLE DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Customer Name	Amount (Note 2)
Non-Related Parties
Hota Industrial Mfg. Co., Ltd	$ 544,621
Others (Note 1)	83,049
	$ 627,670

Note 1: The amount of individual customer included in others does not exceed 5% of the account balance.
Note 2: There are no notes receivable that are past due but not collected.
127 -

STATEMENT 3

CHINA STEEL CORPORATION

STATEMENT OF ACCOUNTS RECEIVABLE DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Customer Name	Amount (Note 2)	Amount (Note 2)
Related Parties
China Steel Precision Metals Kunshan Co., Ltd.	$	350,654
China Steel Chemical Corporation		213,080
China Steel Precision Metals Qingdao Co., Ltd.		126,936
CSGT Metals Vietnam Joint Stock Company		69,195
Dragon Steel Corporation		50,120
Others (Note 1)		100,048
	$	910,033
Non-Related Parties
Cargill International Trading Pte Ltd	$	447,578
Marubeni-Itochu Steel Inc		260,559
Duferco SA		260,073
ThyssenKrupp Materials Trading GmbH		232,995
Mitsui & Co. (Taiwan), Ltd.		172,644
Others (Note 1)		1,296,678
	$	2,670,527

Note 1: The amount of individual customer included in others does not exceed 5% of the account balance.

Note 2: There are no accounts receivable that are past due over 1 year.

128 -

STATEMENT 4

CHINA STEEL CORPORATION

STATEMENT OF OTHER RECEIVABLES DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Item VAT refund receivable Consignment receivable Raw material overpayment refund receivable Others	Amount $ 1,064,429 652,758 220,814 195,632
	$ 2,133,633

129 -

STATEMENT 5

CHINA STEEL CORPORATION

STATEMENT OF INVENTORIES DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Item Finished goods Work in progress Raw materials Supplies Inventory in transit Others		Amount
		Net Realizable Cost Value (Note) $ 15,541,497 $ 15,872,159 23,170,817 23,382,678 12,932,434 13,321,663 4,984,118 4,984,118 10,444,128 11,073,637 37,261 37,300 $ 67,110,255 $ 68,671,555

Note: Allowance for loss on decline in value of inventory of supplies is recognized according to the extent of idleness and valuation at net realizable value. Refer to Note 4 for details.

130 -

STATEMENT 6

CHINA STEEL CORPORATION

STATEMENT OF OTHER FINANCIAL ASSETS DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Bank Name
Interest
Rates (%)
Period
Pledged time deposits
Taiwan Business Bank
0.45
2022.01.19-2023.12.26

Mega Bank
0.31
2022.03.15-2023.03.15
Bank of Taiwan
0.34
2022.06.26-2023.06.26
First Bank
0.49
2022.02.11-2023.12.03
Chang Hwa Bank
0.49
2022.07.13-2023.11.16
Cathay United Bank
0.31
2022.04.26-2023.11.05

Time deposits with original
maturities more than 3
months
Mega Bank
0.32
2022.12.14-2023.12.14

Deposits for projects
Hua Nan Bank
Fubon Bank
Mega Bank
E.Sun Bank
Taiwan Cooperation Bank
First Bank

Amount
Note
$ 2,250,000
Note 1
1,000,000
Note 1
1,000,000
Note 1
500,000
Note 1
500,000
Note 1

600,000
Note 1

5,850,000

100,000
180,528
Note 2
54,857
Note 2
48,266
Note 2
30,430
Note 2
22,664
Note 2

2,823
Note 2

339,568
$ 6,289,568

Note 1: Time deposits pledged as collateral for bank overdraft.

Note 2: Deposits for offshore funds.

131 -

STATEMENT 7

CHINA STEEL CORPORATION

STATEMENT OF OTHER CURRENT ASSETS DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Item Net input VAT Advance operation cooperation fee Advance payment Others	Amount $ 554,547 212,232 86,176 334,349
	$ 1,187,304

132 -

STATEMENT 8

CHINA STEEL CORPORATION

STATEMENT OF CHANGES IN FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME - NONCURRENT FOR THE YEAR ENDED DECEMBER 31, 2022

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Name Domestic listed shares Taiwan High Speed Rail Corporation Tang Eng Iron Works Co., Ltd. Rechi Precision Co., Ltd. CSBC Corporation, Taiwan O-Bank Co., Ltd. Domestic unlisted shares CDIB & Partners Investment Holding Corporation CDIB BioScience Ventures I, Inc. Phalanx Biotech Group, Inc. Taiwan International Windpower Training Corporation Foreign listed shares Maruichi Steel Tube Ltd. Yodogawa Steel Works, Ltd. CSN Mineracao S.A. Foreign unlisted shares Sakura Ferroalloys Sdn. Bhd. Sakura Ferroalloys Sdn. Bhd. (Preferred Shares) DB Metal Co., Ltd. Formosa Ha Tinh (Cayman) Limited	Balance, January 1, 2022 Shares/Units Fair Value 242,148,000 $ 7,167,581 29,860,691 1,067,520 23,002,022 439,339 7,751,346 170,142 103,847,695 830,781 54,000,000 880,508 1,063,534 7,922 332,881 3,145 1,500,000 14,296 2,000,000 1,225,107 400,000 244,829 22,366,860 749,005 207,290,000 954,668 56,443,634 259,949 1,500,000 9,961 1,111,418,177 25,226,525 $ 39,251,278	Additio	ns Amount $ - - - - 40,501 - - - 1,061 31,247 - - 1,033,164 281,324 - - $ 1,387,297	Decrea	se Amount $ (205,826 ) (119,443 ) (69,006 ) (18,991 ) - (185,728 ) (2,271 ) (589 ) - - (8,711 ) (217,561 ) - - (9,961 ) (310,419) $ (1,148,506)	Balance, Decemb	er 31, 2022 Fair Value (Note) Collateral $ 6,961,755 None 948,077 None 370,333 None 151,151 None 871,282 None 694,780 None 5,651 None 2,556 None 15,357 None 1,256,354 None 236,118 None 531,444 None 1,987,832 None 541,273 None - None 24,916,106 None $ 39,490,069
						Shares/Units 242,148,000 29,860,691 23,002,022 7,751,346 103,847,695 54,000,000 1,063,534 332,881 1,500,000 2,000,000 400,000 22,366,860 207,290,000 56,443,634 1,500,000 1,111,418,177
	Shares/Units 242,148,000 29,860,691 23,002,022 7,751,346 103,847,695 54,000,000 1,063,534 332,881 1,500,000 2,000,000 400,000 22,366,860 207,290,000 56,443,634 1,500,000 1,111,418,177	Shares/Units - - - - - - - - - - - - - - - -		Shares/Units - - - - - - - - - - - - - - - -

Note: Fair values are measured on the basis of the closing price on the balance sheet date or measured using the valuation techniques in Note 28.

133 -

STATEMENT 9

CHINA STEEL CORPORATION

STATEMENT OF CHANGES IN FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - NONCURRENT FOR THE YEAR ENDED DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Name Unlisted preference shares - overseas East Asia United Steel Corporation (EAUS) - preference A	Balance, January 1, 2022 Shares/Units Fair Value 3,333$ 731,198	Additions Shares/Units Amount -$ -	Decrease/Reclassify (Note) Shares/Units Amount -$ (18,957)	Balance, December 31, 2022 Shares/Units Fair Value Collateral 3,333$ 712,241 None
	Shares/Units 3,333	Shares/Units -	Shares/Units -

Note: Decrease in investment in East Asia United Steel Corporation (EAUS) - preference A resulted from valuation adjustments.

134 -

STATEMENT 10

CHINA STEEL CORPORATION

STATEMENT OF CHANGES IN INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD FOR THE YEAR ENDED DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Investees Investments in subsidiaries Listed companies Chung Hung Steel Corporation China Steel Chemical Corporation China Steel Structure Co., Ltd. China Ecotek Corporation CHC Resources Corporation Unlisted companies Dragon Steel Corporation CSC Steel Australia Holdings Pty Ltd. China Steel Express Corporation C. S. Aluminium Corporation Gains Investment Corporation China Steel and Nippon Steel Vietnam Joint Stock Company China Prosperity Development Corporation China Steel Asia Pacific Holdings Pte. Ltd. China Steel Power Holding Corporation China Steel Global Trading Corporation CSCI Steel Corporation India Pvt. Ltd. Kaohsiung Rapid Transit Corporation CSC Solar Corporation China Steel Resources Corporation Sing Da Marine Structure Corporation InfoChamp Systems Corporation China Steel Machinery Corporation Himag Magnetic Corporation China Steel Security Corporation China Steel Management Consulting Corporation China Steel Power Corporation United Steel International Co., Ltd. Less: Shares held by subsidiaries accounted for as treasury shares Investments in associates Unlisted companies Taiwan Rolling Stock Co., Ltd. Kaohsiung Arena Development Corporation Hsin Hsin Cement Enterprise Corp. Eminent II Venture Capital Corporation Dyna Rechi Co., Ltd. Honley Auto. Parts Co., Ltd. Overseas Investment & Development Corp. TaiAn Technologies Corporation	Balance, January 1, 2022	Balance, January 1, 2022	Additions (	Note 1)	Decrease (	Note 1)	Balance, December 31, 20	22	Market Value or N	et Assets Value Total Amount(Note 2) Collateral Note $ 15,586,507 None 7,257,048 None 3,922,783 None 2,373,596 None 2,267,321 None 31,407,255 101,696,764 None 20,732,125 None 14,018,360 None 9,040,771 None 8,135,548 None 7,523,856 None 6,095,790 None 4,897,395 None Note 4 3,889,215 Note 30 Note 4 3,350,290 None 1,385,459 None 1,181,670 None 1,049,934 None 999,179 None 578,131 None Note 4 893,437 None 1,506,182 None 493,749 None 491,564 None 20,073 None - Note 30 - None Note 4 187,979,492 8,649,421 210,737,326 790,811 None 558,955 None 388,037 None 281,306 None 254,205 None Note 4 125,588 None Note 4 65,254 None 23,599 None 2,487,755 $ 213,225,081
	Shares (In Thousands) 582,673 68,787 66,488 55,393 49,290 8,612,586 595 422,545 840,122 559,375 514,304 509,803 184,396 377,349 78,827 253,568 120,800 95,920 98,112 22,695 41,466 100,067 19,183 25,037 1,000 - 12,000 - 95,528 45,000 28,659 30,000 40,000 59,088 5,000 1,666	Amount $ 8,394,707 2,097,586 1,287,731 1,042,159 1,050,387 13,872,570 112,686,699 20,773,791 12,162,975 8,165,468 8,876,497 7,317,584 5,432,575 4,312,754 3,463,363 2,709,723 1,371,621 1,080,333 1,049,979 999,510 224,827 582,315 832,458 455,291 506,672 18,321 - 353,092 193,375,848 8,649,421 198,598,997 793,379 542,194 370,893 231,473 246,581 352,122 61,352 23,229 2,621,223 $ 201,220,220	Shares (In Thousands) - - - - - - - - - - - - - - - - - - - 100,000 - - - - - - - - - - - - - - - -	Amount $ - 253,272 64,054 6,244 41,278 364,848 - - 817,957 845,296 - 199,648 - 713,255 401,624 543,500 13,148 101,442 2,473 2,065 353,409 - - 35,283 - 1,752 - - 4,030,852 - 4,395,700 - 16,761 6,787 49,833 7,624 - 3,902 370 85,277 $ 4,480,977	Shares (In Thousands) - - - - - - - - - - - - (5,518 ) - - - - - - - - - - - - - (12,000 ) - - - - - (15,364 ) (23,337 ) - -	Amount $ (1,697,784 ) - - - - (1,697,784) (11,838,827 ) (41,666 ) - - (806,735 ) - (513,384 ) (125,720 ) - - - - - - - (25,022 ) (321,663 ) - (30,051 ) - - (353,092) (14,056,160) - (15,753,944 ) (2,568 ) - - - - (226,534 ) - - (229,102) $ (15,983,046)	Shares (In Thousands) % of Ownership 582,673 41 68,787 29 66,488 33 55,393 45 49,290 20 8,612,586 100 595 100 422,545 100 840,122 100 559,375 100 514,304 56 509,803 100 178,878 100 377,349 51 78,827 100 253,568 100 120,800 43 95,920 55 98,112 100 122,695 47 41,466 100 100,067 74 19,183 69 25,037 100 1,000 100 - - - - - - 95,528 48 45,000 18 28,659 31 30,000 46 24,636 23 35,751 35 5,000 6 1,666 17	Amount $ 6,696,923 2,350,858 1,351,785 1,048,403 1,091,665 12,539,634 100,847,872 20,732,125 12,980,932 9,010,764 8,069,762 7,517,232 4,919,191 4,900,289 3,864,987 3,253,223 1,384,769 1,181,775 1,052,452 1,001,575 578,236 557,293 510,795 490,574 476,621 20,073 - - 183,350,540 8,649,421 187,240,753 790,811 558,955 377,680 281,306 254,205 125,588 65,254 23,599 2,477,398 $ 189,718,151	Unit Price (NT$) $ 26.75 (Note 3) 105.50 (Note 3) 59.00 (Note 3) 42.85 (Note 3) 46.00 (Note 3)

Note 1: Except for increase or decrease in investment, the change in the current year was mainly from the elimination of unrealized profit or loss from downstream transactions, gain and loss from investment, adjustments in equity from investments and dividends received.

Note 2: Market value of listed companies is the closing price at the balance sheet date. Net asset value of unlisted companies is calculated based on the investees’ financial statements and the Corporation’s ownership percentage.

Note 3: The unit price is calculated based on the closing price on the Taiwan Stock Exchange at the balance sheet date.

Note 4: Please refer to Note 12 for more details

135 -

STATEMENT 11

CHINA STEEL CORPORATION

STATEMENT OF RIGHT-OF-USE ASSETS FOR THE YEAR ENDED DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Item Cost Land Land improvements Buildings Machinery Transportation equipment Others Total Accumulated depreciation Land Land improvements Buildings Machinery Transportation equipment Others Total	Balance, January 1, 2022 $ 1,131,861 436,258 180,131 - 19,226 13,663 1,781,139 382,248 145,419 80,376 - 13,982 369 622,394 $ 1,158,745	Additions $ 177,556 - 190,542 - 4,085 - $ 372,183 $ 204,930 48,473 87,864 - 4,685 4,431 $ 350,383	Decrease (Note ) Balance, December 31, 2022 $ (36,041 ) $ 1,273,376 - 436,258 (69,251 ) 301,422 - - (13,604 ) 9,707 - 13,663 $ (118,896) 2,034,426 $ (36,010 ) 551,168 - 193,892 (62,475 ) 105,765 - - (13,486 ) 5,181 - 4,800 $ (111,971) 860,806 $ 1,173,620

Note: The decrease in right-of-use assets was due to expiration of lease agreements, termination of lease agreements in advance and lease modification.

136 -

STATEMENT 12

CHINA STEEL CORPORATION

STATEMENT OF SHORT-TERM BORROWINGS AND BANK OVERDRAFT DECEMBER 31, 2022

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

			Range of			Balance,
	Type	Contract Period	Interest Rates (%)	Loan Commitments	End of The Year		Collateral
Unsecured loans
MUFG Bank		2022.11.01-2023.01.06		US$175,000 thousand	$	2,700,000	None
Mizuho Bank		2022.04.25-2023.03.30		US$350,000 thousand		4,000,000	None
Bank of Taiwan		2022.10.21-2023.02.14		NT$9.0 billion		6,800,000	None
Taiwan Cooperation Bank		2022.12.16-2023.03.16		NT$6.35 billion		1,000,000	None
Credit Agricole Corporation and Investment Bank		2022.09.23-2023.03.23		US$50,000 thousand		1,000,000	None
Sumitomo Mitsui Banking Corporation		2022.07.26-2023.01.19		NT$6.0 billion		600,000	None
Yuanta Commercial Bank.		2022.11.18-2023.02.16		NT$2.0 billion		2,000,000	None
Land Bank of Taiwan		2022.10.20-2023.01.16		NT$1.5 billion		1,000,000	None
			0.78-1.65			19,100,000
Bank overdraft		Automatically extend annually	0.45-0.66	NT$5.74 billion		3,015,707	Note 30
Export bill loans		Automatically renew from credit facility	0.20-5.29	US$374,000 thousand		1,459,030	None
		agreement annually		and NT$300,000
				thousand
Letters of credit
Bank of Taiwan		Each borrowing paid back within 180 days started	-	US$188,000 thousand		953	None
		from bank disbursement
Loans from related parties
China Prosperity Development Corporation		2022.04.26-2023.03.31				850,000	None
China Steel Machinery	Corporation	2022.07.07-2023.06.22				600,000	None
Chung Hung Steel Corporation		2022.12.16-2023.01.13				300,000	None
China Steel Security Corporation		2022.10.17-2023.01.16				40,000	None
			1.53-1.54			1,790,000
					$	25,365,690

Note: Credit line denominated in foreign currencies could be denominated in other currencies for equal amount where credit line remains unchanged.

137 -

STATEMENT 13

CHINA STEEL CORPORATION

STATEMENT OF SHORT-TERM BILLS PAYABLE DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Interest Item Financial Institution Period Rates (%) Short-term bills Cathay United Bank 2022.11.03-2023.02.17 payable CTBC Bank 2022.11.28-2023.02.01 Yuanta Commercial Bank 2022.12.01-2023.03.22 Union Bank Of Taiwan 2022.11.04-2023.01.04 Bank SinoPac 2022.11.30-2023.02.24 1.48-1.58		Amount
	Issuance Amount $ 8,000,000 2,000,000 2,000,000 1,000,000 500,000 $ 13,500,000	Unamortized Amount Carrying Amount $ 12,628 $ 7,987,372 2,019 1,997,981 7,069 1,992,931 126 999,874 1,197 498,803 $ 23,039 $ 13,476,961

138 -

STATEMENT 14

CHINA STEEL CORPORATION

STATEMENT OF ACCOUNTS PAYABLE DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Vendor Name Related Parties China Steel Express Corporation C. S. Aluminium Corporation CSE Transport Corporation Others (Note) Non-related Parties Rio Tinto Commercial Pte. Ltd. Kestrel Coal Sales Pty Ltd Vale International Sa Oaky Creek Holdings Pty Limited Lake Vermont Marketing Pty Ltd Natural Gas Business Division South Marketing Branch Kaohsiung Distribution Center, CPC Corporation. Taiwan Others (Note)	Amount $ 489,399 224,873 152,366 88,008
	$ 954,646
	$ 857,693 417,322 408,944 325,548 272,789 223,901 1,961,858
	$ 4,468,055

Note: The amount of individual vendor in others does not exceed 5% of the account balance.

139 -

STATEMENT 15

CHINA STEEL CORPORATION

STATEMENT OF OTHER CURRENT LIABILITIES DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Item Receipts under custody Deposits received Others	Amount $ 265,652 93,613 47,283 $ 406,548

140 -

STATEMENT 16

CHINA STEEL CORPORATION

STATEMENT OF BONDS PAYABLE DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Bonds Name Trustee Issuance Date Interest Payment Date And Repayment Method Coupon Rate (%) 5-year unsecured bonds Mega International Commercial Bank Co., Ltd. 2020.12-2025.12 Repayable in December 2024 and December 2025; interest payable annually 0.39 7-year unsecured bonds Hua Nan Bank 2018.05-2025.05 Repayable in May 2024 and May 2025; interest payable annually 0.95 Taipei Fubon Commercial Bank Co., Ltd. 2018.10-2025.10 Repayable 25% in October 2024 and 75% in October 2025; interest payable annually 0.90 Mega International Commercial Bank Co., Ltd. 2020.12-2027.12 Repayable in 70% in December 2026 and 30% in December 2027; interest payable annually 0.43 10-year unsecured bonds Mega International Commercial Bank Co., Ltd. 2013.07-2023.07 Repayable in July 2022 and July 2023; interest payable annually 1.60 Taipei Fubon Commercial Bank Co., Ltd. 2014.01-2024.01 Repayable in January 2023 and January 2024; interest payable annually 1.95 Taipei Fubon Commercial Bank Co., Ltd. 2018.08-2028.08 Repayable in August 2027 and August 2028; interest payable annually 1.10 Taipei Fubon Commercial Bank Co., Ltd. 2018.10-2028.10 Repayable in October 2027 and October 2028; interest payable annually 1.05 15-year unsecured bonds Mega International Commercial Bank Co., Ltd. 2013.07-2028.07 Repayable 30% in July 2026, 30% in July 2027, and 40% in July 2028; interest payable annually 1.88 Taipei Fubon Commercial Bank Co., Ltd. 2014.01-2029.01 Repayable 30% in January 2027, 30 % in January 2028, and 40% in January 2029; interest payable annually 2.15 Less: Current portion			Amount	Issuance Costs Carrying Value Collateral $ (1,299 ) $ 1,598,701 None (2,126 ) 5,997,874 None (1,718 ) 4,148,282 None (3,426 ) 4,196,574 None (332 ) 4,849,668 None (420 ) 6,999,580 None (3,782 ) 5,596,218 None (1,646 ) 2,248,354 None (1,380 ) 3,598,620 None (3,303 ) 8,996,697 None (19,432 ) 48,230,568 (365) 8,349,635 $ (19,067) $ 39,880,933
		Total Amount Repayment Paid E $ 1,600,000 $ - 6,000,000 - 4,150,000 - 4,200,000 - 9,700,000 4,850,000 7,000,000 - 5,600,000 - 2,250,000 - 3,600,000 - 9,000,000 - 53,100,000 4,850,000 8,350,000 - $ 44,750,000 $ 4,850,000	Balance, nd of The Year $ 1,600,000 6,000,000 4,150,000 4,200,000 4,850,000 7,000,000 5,600,000 2,250,000 3,600,000 9,000,000 48,250,000 8,350,000 $ 39,900,000

141 -

STATEMENT 17

CHINA STEEL CORPORATION

STATEMENT OF LONG-TERM BANK BORROWINGS DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Amount, Contract Period Bank Name and Repayment Method Interest Rates (%) Unsecured Loans Bank of Taiwan NT$1.5 billion, due in August 2025 with revolving basis Bank of Taiwan NT$3.5 billion, due in August 2025 with revolving basis Bank of Taiwan JPY 1.214 billion, repaid in November 2025 Mizuho Bank NT$0.5 billion, due in October 2024 with revolving basis Mizuho Bank NT$1.0 billion, due in October 2024 with revolving basis Mizuho Bank NT$0.5 billion, due in October 2024 with revolving basis Mizuho Bank NT$1.5 billion, due in October 2024 with revolving basis Mizuho Bank NT$0.5 billion, due in October 2024 with revolving basis Mizuho Bank NT$0.5 billion, due in October 2024 with revolving basis Mizuho Bank JPY 3.284 billion, repaid in June 2025 Mitsui & Co. (Taiwan), Ltd. NT$2.0 billion, due in September 2024 with revolving basis 0.27-1.57 Less: Financial liabilities for hedging-noncurrent		Balance, December 31, 2022	Balance, December 31, 2022	Total Collateral $ 1,500,000 None 3,500,000 None 282,134 None 500,000 None 1,000,000 None 500,000 None 1,500,000 None 500,000 None 500,000 None 763,085 None 2,000,000 None 12,545,219 (1,045,219) $ 11,500,000
		Current $ - - - - - - - - - - - - - $ -	Over 1 Year $ 1,500,000 3,500,000 282,134 500,000 1,000,000 500,000 1,500,000 500,000 500,000 763,085 2,000,000 12,545,219 (1,045,219) $ 11,500,000

142 -

STATEMENT 18

CHINA STEEL CORPORATION

STATEMENT OF LEASE LIABILITIES DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Item
Object
Period (Note)
Discount
Rates (%)
Land
Lease of land and
wharf, etc.
2019.01.01-2027.12.31
0.59-1.14

Land improvements Lease of wharf and
relating facilities,
etc
2019.01.01-2027.12.31
1.31
Buildings
Lease of plants,
offices and
dorms, etc
2020.10.01-2025.08.31
0.59-0.95
Machinery
-
-
-
Transportation
equipment
Lease of company
cars, etc
2020.03.02-2025.07.11
0.59-0.95
others
5G application
service for
business
2021.12.16-2024.12.15
0.59

Less: Current portion

Amount
$ 724,158
246,815
189,799
-
4,641
9,160
1,174,573
(353,725)
$ 820,848

143 -

STATEMENT 19

CHINA STEEL CORPORATION

STATEMENT OF LONG-TERM BILLS PAYABLE DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Interest Item Financial Institution Period Rates (%) Long-term bills Cathay United Bank 2022.12.30-2026.12.30 payable Taishin International Bank 2020.01.06-2024.01.06 CTBC Bank 2020.04.10-2024.04.10 1.27-1.37	Amount
	Issuance Amount Unamortized Amount $ 8,000,000 $ 3,134 2,000,000 408 1,500,000 743 $11,500,000 $ 4,285	Carrying Amount $ 7,996,866 1,999,592 1,499,257 $11,495,715

Note: Commercial papers are issued on revolving basis within the contract period of 4 years, starting from 2020 to 2026, and recorded as long-term bills payable.

144 -

STATEMENT 20

CHINA STEEL CORPORATION

STATEMENT OF OPERATING REVENUE FOR THE YEAR ENDED DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Item Quantities (Metric Tons) Sale of Goods Carbon Steel Products Cold rolled steel products 2,855,867 Hot rolled steel products 2,570,723 Wire rods 1,281,504 Plates 911,302 Bars 623,766 Commercial slabs 345,210 Pig iron 1,190 Non-carbon steel products Others Others (Note)	Amount $ 86,934,990 61,339,478 36,090,469 26,460,294 20,086,405 6,822,411 26,430 237,760,477 3,304,202 3,801,079 244,865,758 5,734,871 $ 250,600,629

Note: The amount of each item included in others does not exceed 10% of the account balance.

145 -

STATEMENT 21

CHINA STEEL CORPORATION

STATEMENT OF OPERATINGS COSTS FOR THE YEAR ENDED DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Item
Raw materials used
Raw materials, beginning of the year

Raw material purchased
Gain from physical count
Raw materials, end of the year

Direct labor
Manufacturing expenses

Manufacturing cost
Work in progress, beginning of the year
Work in progress, end of the year

Finished goods, beginning of the year
Finished goods, end of the year
Others, beginning of the year
Others, end of the year
Non-manufacturing cost or service cost
Others

Costs of goods sold
Others (Note)

Amount
$ 15,333,339
164,619,514
136,064
(12,932,434)
167,156,483
5,605,257
58,421,487
231,183,227
23,208,571
(23,170,817)
231,220,981
15,455,889
(15,541,497 )
69,473
(37,261 )
(1,410,707 )
(1,296,736)
228,460,142
3,883,996
$ 232,344,138

Note: The amount of each item in others does not exceed 10% of the account balance.

146 -

STATEMENT 22

CHINA STEEL CORPORATION

STATEMENT OF OPERATING EXPENSES FOR THE YEAR ENDED DECEMBER 31, 2022 (In Thousands of New Taiwan Dollars)

Item Payroll expense Professional fee Depreciation expense, depletion and amortization Traveling expense Packing and processing fee Maintenance and warranty fee Others Total	Selling Expenses General and Administrative Expenses $ 628,843 $ 1,633,808 111,931 717,447 270,791 181,520 807,411 21,529 544,230 37,346 148,157 132,329 182,041 392,105 $ 2,693,404 $ 3,116,084	Research and Development Expenses $ 903,656 863,301 189,379 2,942 5,529 53,851 129,778 $ 2,148,436	Total $ 3,166,307 1,692,679 641,690 831,882 587,105 334,337 703,924 $ 7,957,924

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STATEMENT 23

CHINA STEEL CORPORATION

STATEMENT OF EMPLOYEE BENEFITS, DEPRECIATION AND AMORTIZATION FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021 (In Thousands of New Taiwan Dollars)

Employee benefits Salaries Labor and health insurance Post-employment benefits Termination benefits Remuneration of directors Others Depreciation Amortization	For The Year Ended December 31, 2022	Total $ 16,117,173 1,128,873 846,462 66,833 27,409 641,644 $ 18,828,394 $ 15,236,313 4,978	For The Year Ended December 31, 2021
	Classified as Operating Costs Classified as Operating Expenses Classified as Others $ 13,292,962 $ 2,633,084 $ 191,127 957,925 169,979 969 603,715 242,328 419 - - 66,833 - 27,409 - 533,704 93,507 14,433 $ 15,388,306 $ 3,166,307 $ 273,781 $ 14,572,118 $ 641,690 $ 22,505 4,978 - -		Classified as Operating Costs Classified as Operating Expenses Classified as Others $ 19,978,667 $ 3,921,374 $ 75,395 865,859 153,705 599 635,560 223,077 236 - - 77,824 - 88,482 - 594,686 104,479 12,867 $ 22,074,772 $ 4,491,117 $ 166,921 $ 14,206,878 $ 881,829 $29,659 9,956 - -	Total $ 23,975,436 1,020,163 858,873 77,824 88,482 712,032 $ 26,732,810 $ 15,118,366 9,956

Note 1: As of December 31, 2022 and 2021, the Corporation had 9,693 and 9,727 employees, respectively. Among them 7 and 6 directors did not serve concurrently as employees in 2022 and 2021, respectively.

Note 2: Additional disclosures are as follows:

1) Average employee benefits for the year ended December 31, 2022 was NT$1,941 thousand (Amounts of employee benefits for the year ended December 31, 2022 less amounts of remuneration of directors for the year ended December 31, 2022/number of employees for the year ended December 31, 2022 less number of directors not serving concurrently as employees for the year ended December 31, 2022)

Average employee benefits for the year ended December 31, 2021 was NT$ 2,741 thousand (Amounts of employee benefits for the year ended December 31, 2021 less amounts of remuneration of directors for the year ended December 31, 2021/number of employees for the year ended December 31, 2021 less number of directors not serving concurrently as employees for the year ended December 31, 2021)

2) Average salaries for the year ended December 31, 2022 was NT$1,664 thousand (Amounts of salaries for the year ended December 31, 2022/number of employees for the year ended December 31, 2022 less number of directors not serving concurrently as employees for the year ended December 31, 2022)

Average salaries for the year ended December 31, 2021 was NT$ 2,466 thousand (Amounts of salaries for the year ended December 31, 2021/number of employees for the year ended December 31, 2021 less number of directors not serving concurrently as employees for the year ended December 31, 2021)

3) Changes of adjustments of average salaries was (33)% (Average salaries for the year ended December 31, 2022 less average salaries for the year ended December 31, 2021/average salaries for the year ended December 31, 2021)
4) The Corporation does not have any supervisor.
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5) The Corporation's remuneration policies are as follows:

a) Remuneration policy for directors

The remuneration policy for directors shall be handled in accordance with the Corporation's Articles of Incorporation and Organization Regulations for Remuneration Committee, formulated upon the recommendation of the Remuneration Committee, and submitted to the Board of Directors for approval.

i Remuneration for directors: It’s distributed according to Article 6 of the Corporation's Articles of Incorporation, which stipulates that “If there is profit in any given fiscal year, the Corporation shall set aside no less than 0.1% as the remuneration in stock or cash for employees, and no more than 0.15% as the remuneration for Directors,” and Article 9 of the Rules Governing the Performance Evaluation of the Board of Directors, which stipulates that “The results of the performance evaluation for the Corporation’s directors shall be used as a reference for the election or nomination of directors; the results of performance evaluation for each director (excluding independent directors) shall be used as a reference for determining the remuneration allocation for directors.”

ii Remuneration for independent directors: The Corporation pays a fixed compensation monthly to the independent directors, who shall not receive the aforesaid remuneration for directors.

iii Travel allowance: The Corporation pays a monthly travel allowance to directors who do not receive the salary and benefits for the Corporation's Chairman or managements.

iv Attendance fee: The Corporation pays an attendance fee to directors who do not receive salary and benefits for the Corporation's Chairman or managements for attending meetings held by the functional committees under the Corporation's Board of Directors and the Corporation’s project study and consultation meetings, etc.
b) Remuneration policy for the managements

With regard to salary and benefits for appointed managements, the Remuneration Committee, which comprises three independent directors appointed by the Board of Directors, shall study and formulate (as well as regularly review) the performance evaluation system, evaluation results, and related remuneration system for appointed managements. In addition to referencing the typical pay levels of industry peers and listed companies, the reasonableness of correlation between individual performance, the Corporation's business performance, and future risks are also taken into consideration while determining the performance and remuneration for appointed managements.

c) Compensation policy for employees

Employee compensation mainly includes basic salary, bonuses, and remuneration for employees. Employee compensation standards are formulated based on their duties and responsibilities, current market salary standards, the Corporation’s financial status and organizational structure. Bonuses and remuneration for employees reflect the Corporation's profitability in the current year and are also related to the individual performance of employees. Employees who have yet to reach the maximum job grade for the positions they hold after joining the Corporation are given opportunities for salary adjustments every year based on their job grade and individual performance. The range of salary adjustment is highly correlated with an employee's performance. In addition, the Corporation will also offer annual salary adjustments based on market salary trends and its operating conditions.

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CSC — Audit Report / Information 2022

51937_rns_2022-11-11_ca3900fa-f776-495d-8878-01567c289d6a.pdf

China Steel Corporation

INDEPENDENT AUDITORS’ REPORT

Opinion

Basis for Opinion

Key Audit Matters

Responsibilities of Management and Those Charged with Governance for the Standalone Financial Statements

Auditors’ Responsibilities for the Audit of the Standalone Financial Statements

Notice to Readers

China Steel Corporation

STANDALONE BALANCE SHEETS

(In Thousands of New Taiwan Dollars)

China Steel Corporation

STANDALONE STATEMENTS OF COMPREHENSIVE INCOME (In Thousands of New Taiwan Dollars, Except Earnings Per Share)

China Steel Corporation

STANDALONE STATEMENTS OF COMPREHENSIVE INCOME (In Thousands of New Taiwan Dollars, Except Earnings Per Share)

China Steel Corporation

STANDALONE STATEMENTS OF CHANGES IN EQUITY (In Thousands of New Taiwan Dollars, Except Dividends Per Share)

China Steel Corporation

STANDALONE STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)

China Steel Corporation

STANDALONE STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)

China Steel Corporation

STANDALONE STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)

China Steel Corporation

1. GENERAL INFORMATION

2. APPROVAL OF FINANCIAL STATEMENTS

3. APPLICATION OF NEW AND AMENDED STANDARDS AND INTERPRETATIONS

Effective Date New IFRSs Announced by IASB (Note 1)

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a. Statement of compliance

e. Inventories

subsequently increased.

h. Property, plant and equipment

1) Financial assets

a) Measurement category

i Financial assets at FVTPL

3) Financial liabilities

Financial guarantee contracts

5) Hedge accounting

a) Fair value hedges

b) Cash flow hedges

c) Hedges of net investments in foreign operations

o. Leases

1) The Corporation as lessor

p. Borrowing costs

2) Retirement benefits

4) Termination benefits

r. Taxation

1) Current tax

5. CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

6. CASH AND CASH EQUIVALENTS

7. FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS

8. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME - EQUITY INSTRUMENTS

9. FINANCIAL INSTRUMENTS FOR HEDGING

10. NOTES AND ACCOUNTS RECEIVABLE, NET (INCLUDING RELATED PARTIES)

December 31, 2022

December 31, 2021

11. INVENTORIES

12. INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD

a. Investments in subsidiaries

b. Investments in associates

13. OTHER FINANCIAL ASSETS

14. PROPERTY, PLANT AND EQUIPMENT

15. LEASE ARRANGEMENTS

a. Right-of-use assets

b. Lease liabilities

c. Material lease activities and terms

d. Other lease information

16. INVESTMENT PROPERTIES

17. BORROWINGS

a. Short-term borrowings and bank overdraft

d. Long-term bills payable

18. BONDS PAYABLE

19. OTHER PAYABLES

CSC Audit Report / Information 2022