Stock Code: 2415

CX Technology Corporation and Subsidiaries

Consolidated Financial Statements and Independent Auditors’ Report 2025 and 2024

Address: 20F., No. 179, Liaoning St., Zhongshan Dist., Taipei City
Telephone No.: (02) 23898686

§Table of Contents§

ITEM		PAGE	NO. OF NOTES TO FINANCIAL STATEMENTS
I.	Cover	1	-
II.	Table of Contents	2	-
III.	Declaration on the Consolidated Financial Statements of Affiliates	3	-
IV.	Independent Auditors’ Report	4~8	-
V.	Consolidated Balance Sheet	9	-
VI.	Consolidated Statement of Comprehensive Income	10~12	-
VII.	Consolidated Statement of Changes in Equity	13	-
VIII.	Consolidated Statement of Cash Flows	14~15	-
IX.	Notes to the Consolidated Financial Statements
	(I) History of the Company	16	I
	(II) Date and procedures of approval of the financial statements	16	II
	(III) Application of new and amended standards and interpretations	16~19	III
	(IV) Summary of material accounting policies	19~32	IV
	(V) Main sources of uncertainty of material accounting judgments, estimates and assumptions	32~33	V
	(VI) Description of major accounts	33~76	VI~XXXI
	(VII) Related party transactions	76	XXXII
	(VIII) Pledged and mortgaged assets	76	XXXIII
	(IX) Material contingent liabilities and unrecognized contractual commitments	77	XXXIV
	(X) Material disaster losses	-	-
	(XI) Material subsequent events	77	XXXV
	(XII) Others	77~79	XXXVI
	(XIII) Note disclosures
	1. Information of material transactions	79, 83~88	XXXVII
	2. Information of investee companies	79, 89~90	XXXVII
	3. Information of investments in Mainland China	79, 91~92	XXXVII
	(XIV) Segment information	71~73	XXXVIII

March 12, 2026

Declaration on the Consolidated Financial Statements of Affiliates

The Company hereby declares that considering that the companies which shall be included in the consolidated financial statements of affiliates in accordance with the "Criteria Governing Preparation of Affiliation Reports, Consolidated Business Reports and Consolidated Financial Statements of Affiliated Enterprises" are the same as those which shall be included in the consolidated financial statements of the parent company and subsidiaries under IFRS 10 in 2025 (from January 1 to December 31, 2025), and the related information which shall be disclosed in the consolidated financial statements of affiliates has already been disclosed in the said consolidated financial statements of the parent company and subsidiaries, no consolidated financial statements of affiliates have been prepared separately.

Declared by:

Company name: CX Technology Corporation

Person in charge: Albert Ting

Independent Auditors' Report

To CX Technology Corporation:

Audit Opinions

We audited the consolidated balance sheet of CX Technology Corporation and its subsidiaries as of December 31, 2025 and 2024, and their consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the periods from January 1 to December 31, 2025 and 2024, and the notes to the consolidated financial statements (including the summary of material accounting policies).

In our opinion, based on our audit results and other independent auditors' reports (see the Other Matters paragraph), with respect to all material aspects, the foregoing consolidated financial statements were prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards, International Accounting Standards, interpretations and interpretation pronouncements approved and published by the Financial Supervisory Commission, and thus provided a fair presentation of the consolidated financial positions of CX Technology Corporation and its subsidiaries on December 31, 2025 and 2024 and the consolidated financial performance and cash flows for the periods from January 1 to December 31, 2025 and 2024.

Basis for Audit Opinions

We conducted the audit in accordance with the Regulations Governing Auditing and Attestation of Financial Statements by Certified Public Accountants and auditing standards. Our responsibilities under such standards are further described in the paragraph of Responsibilities of CPAs for the Audit of the Consolidated Financial Statements. As CPAs who are subject to independence requirements, we have, in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China, remained independent from CX Technology Corporation and its subsidiaries and fulfilled all other responsibilities under the requirements. According to our audit results and other independent auditors' reports, we believe that we have acquired sufficient and appropriate audit evidence as the basis of our audit opinions.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in the audit of the consolidated financial statements of CX Technology Corporation and its subsidiaries for 2025. Such matters were addressed in the context of our audit of the consolidated financial statements as a whole and, in forming our opinions thereon, we have not provided any separate opinion on these matters.

The key audit matters for CX Technology Corporation and its subsidiaries' consolidated financial statements for 2025 are described as follows:

Recognition of sales revenue – Authenticity of recognized sales revenue from certain customers

CX Technology Corporation and its subsidiaries have been dedicated to expanding the market for magnetic components for speakers. The relevant consolidated sales revenue for 2025 decreased slightly compared to the same period last year, but sales revenue from some specific customers showed a growth trend, and the amount of sales revenue is significant, having a significant impact on the financial performance of CX Technology Corporation and its subsidiaries. Therefore, the authenticity of sales revenue recognition from these specific customers is considered a key audit matter. See Notes 2 and 26 to the consolidated financial statements for the accounting policies and information disclosures related to the recognition of sales revenue.

We implemented the following main audit procedures for such matter:

Understanding, assessing and testing the effectiveness of the design and implementation of the internal control system for the sales revenue recognition.
Randomly reviewing the order or shipment receipts, invoices or commercial invoices for the customers and verifying the authenticity of sales revenue recognition.
Randomly reviewing the collection of payments from the customers to verify that the sales revenue can be traced back to them.
Reviewing subsequent sales returns and discounts for abnormalities.

Other Matters

The financial statements of PHU HUNG SECURITIES CORPORATION, a subsidiary of CX Technology Corporation, as of December 31, 2025 and 2024 included in the foregoing consolidated financial statements were audited by other CPAs. Therefore, our opinions expressed on the foregoing consolidated financial statements with respect to the amounts in the financial statements of such subsidiary were based on the CPAs' reports. The subsidiary's total assets as of December 31, 2025 and 2024 were NTD7,544,720 thousand and NTD5,995,492 thousand, respectively, accounting for 76% and 72% of the total consolidated assets; its net operating revenues for the periods from January 1 to December 31, 2025 and 2024 was NTD674,376

thousand, respectively, accounting for 29% and 25% of the total consolidated operating revenues.

CX Technology Corporation prepared its parent-only financial report for 2025 and 2024. For the parent-only financial report, we have issued an audit report with an unqualified opinion and Other Matters paragraph for reference.

Responsibilities of the Management and Governance Units for the Consolidated Financial Statements

The management was responsible for preparing the consolidated financial statements with fair presentation in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards, International Accounting Standards, interpretations and interpretation pronouncements approved and published by the Financial Supervisory Commission and maintaining necessary internal control related to the preparation of the consolidated financial statements to ensure that the consolidated financial statements were free of material misstatements due to fraud or error.

In preparing the consolidated financial statements, the management was also responsible for evaluating CX Technology Corporation and its subsidiaries' going concern ability, disclosure of relevant matters and use of the going concern basis of accounting, unless the management intended to liquidate or cease the operation of CX Technology Corporation and its subsidiaries or there were no other actual feasible solutions other than liquidation or cessation of operation.

The governance units of CX Technology Corporation and its subsidiaries (including the Audit Committee) were responsible for supervising the financial reporting process.

Responsibilities of CPAs for the Audit of the Consolidated Financial Statements

The purpose of our audit of the consolidated financial statements was to obtain reasonable assurance about whether the consolidated financial statements were free of material misstatements due to fraud or error, with an audit report issued thereafter. Reasonable assurance means a high degree of assurance. However, there was no guarantee that any material misstatement contained in the consolidated financial statements could be discovered during the audit conducted in accordance with the auditing standards. A misstatement may be due to fraud or error. A misstatement was deemed material if the individual or aggregate amount misstated was reasonably expected to affect economic decisions made by users of the consolidated financial statements.

We relied on our professional judgment and maintained our professional skepticism during the audit conducted pursuant to the auditing standards. We also performed the following tasks:

Identifying and assessing the risk of misstatements in the consolidated financial statements due to fraud or error; designing and implementing appropriate measures in response to the
6 -

assessed risk; and acquiring sufficient and appropriate audit evidence as the basis of our audit opinions. Since fraud may involve collusion, forgery, intentional omission, fraudulent statement or violation of internal control, the risk of not detecting a material misstatement resulting from fraud is higher than that resulting from error.

Acquiring necessary understanding of the internal control related to the audit to design audit procedures appropriate for the current circumstances, provided that the purpose of the foregoing was not to express opinions regarding the effectiveness of the internal control of CX Technology Corporation and its subsidiaries.
Assessing the appropriateness of the accounting policies adopted by the management and the reasonableness of the accounting estimates and relevant disclosures made by the management.
Drawing a conclusion about the appropriateness of the management's use of the going concern basis of accounting and whether there was material uncertainty in an event or circumstance which might cast significant doubt about the ability of CX Technology Corporation and its subsidiaries to remain a going concern. If any material uncertainty was deemed to exist in such event or circumstance, we must provide a reminder in the audit report for the users of the consolidated financial statements to pay attention to the relevant disclosures therein, or revise our audit opinions when any such disclosure was inappropriate. Our conclusion was based on the audit evidence obtained as of the date of this audit report. However, future events or circumstances could result in a situation where CX Technology Corporation and its subsidiaries are no longer able to remain a going concern.
Assessing the overall presentation, structure and contents of the consolidated financial statements (including relevant notes) and whether the consolidated financial statements provided a fair presentation of the relevant transactions and events.
Acquiring sufficient and appropriate audit evidence of the financial information of the entities forming the group to provide opinions regarding the consolidated financial statements. We are responsible for guidance, supervision and implementation in relation to the group's audit cases and for the formation of audit opinions for the group.

The matters for which we communicated with the governance units include the planned scope and time of audit, and our material audit findings (including significant internal control deficiencies identified during the audit).

We also provided a declaration to the governance units stating that as CPAs who are subject to independence requirements, we have complied with the independence requirements in the Norm of Professional Ethics for Certified Public Accountants of the Republic of China and

communicated with the governance units regarding all relationships and other matters (including relevant safeguard measures) that were deemed likely to affect the independence of CPAs.

The key audit matters in the audit of the consolidated financial statements of CX Technology Corporation and its subsidiaries for 2025 were determined by us from the matters regarding which we communicated with the governance units. We shall specify such matters in the audit report, except where public disclosure of certain matters is prohibited by applicable laws or regulations or where, under very exceptional circumstances, we have decided not to communicate certain matters in the audit report due to the reasonable expectation that any negative effect arising from such communication would be greater than the public interest enhanced.

Deloitte Taiwan
CPA Kathy Huang

CPA Hugh C. Chang

No. of Approval Document from the Securities and Futures Commission
Tai-Cai-Zheng-Liu-Zi No. 0920123784

No. of Approval Document from the Financial Supervisory Commission
Jin-Guan-Zheng-Shen-Zi No. 1120349008

March 12, 2026

CX Technology Corporation and Subsidiaries
Consolidated Balance Sheet
December 31, 2025 and 2024
Unit: NTD thousand

Code	Asset	December 31, 2025		December 31, 2024
		Amount	%	Amount	%
Current assets
1100	Cash and cash equivalents (Notes 4 and 6)	$ 541,755	6	$ 477,489	6
1110	Financial assets measured at fair value through profit or loss – current (Notes 4 and 7)	302,441	3	174,542	2
1136	Financial assets measured at amortized cost – current (Notes 4, 5, 9, 10, 11 and 33)	813,859	8	958,375	11
1206	Margin loans receivable (Notes 4, 5 and 11)	4,867,855	49	3,619,519	43
1170	Accounts receivable (Notes 4, 5, 9, 11, 20 and 33)	253,866	3	242,436	3
1200	Other receivables (Notes 4 and 11)	119,472	1	73,790	1
1206	Accounts receivable for settlement (Note 4 and 11)	29,662	-	1,632	-
1206	Customer securities accounts (Notes 4 and 12)	834,674	9	908,742	11
1220	Current income tax assets (Notes 4 and 28)	5,454	-	2,634	-
130X	Inventory (Notes 4 and 13)	388,589	4	405,196	5
1410	Prepayments	114,595	1	97,653	1
1470	Other current assets (Note 19)	5,035	-	43,953	1
11XX	Total current assets	8,277,257	84	7,005,961	84
Non-current assets
1517	Financial assets at fair value through other comprehensive income – non-current (Notes 4 and 8)	149,132	2	155,740	2
1535	Financial assets measured at amortized cost – current (Notes 4, 9, 10, 20 and 33)	417,396	4	120,000	2
1600	Property, plant and equipment (Notes 4, 16 and 33)	509,372	5	621,003	7
1755	Right-of-use assets (Notes 4, 17 and 33)	198,721	2	243,490	3
1780	Intangible assets (Notes 4 and 18)	20,045	-	25,834	-
1840	Deferred income tax assets (Notes 4 and 28)	112,180	1	105,779	1
1915	Prepayments for equipment	10,429	-	6,196	-
1920	Deposits paid (Note 4)	30,171	-	37,612	1
1975	Net defined benefit assets – non-current (Notes 4 and 24)	1,000	-	955	-
1990	Other non-current assets (Note 19)	169,451	2	28,010	-
15XX	Total non-current assets	1,617,897	16	1,344,619	16
1XXX	Total assets	$ 9,895,154	100	$ 8,350,580	100
Liabilities and equity
Current liabilities
2100	Short-term loans (Note 20 and 33)	$ 4,101,763	42	$ 2,360,349	28
2110	Short-term notes payable (Note 20)	49,902	1	139,918	2
2120	Financial liabilities measured at fair value through profit or loss – current (Notes 4 and 7)	11,656	-	-	-
2170	Accounts payable	114,163	1	72,179	1
2200	Other payables (Note 21)	176,438	2	134,818	2
2219	Accounts payable for settlement (Notes 4 and 22)	602,604	6	511,147	6
2219	Securities traders’ equity (Notes 4 and 12)	252,685	3	245,594	3
2219	Futures traders’ equity (Notes 4 and 12)	581,920	6	663,056	8
2230	Current income tax liabilities (Notes 4 and 28)	41,389	-	33,345	-
2280	Lease liabilities – current (Notes 4 and 17)	36,035	-	45,013	1
2320	Long-term liabilities due in one year (Notes 20 and 33)	92,857	1	92,524	1
2365	Refund liabilities – current (Notes 4 and 23)	32,989	-	33,595	-
2399	Other current liabilities	8,083	-	9,417	-
21XX	Total current liabilities	6,102,484	62	4,340,955	52
Non-current liabilities
2540	Long-term loans (Notes 20 and 33)	620,833	6	713,690	9
2550	Liability provision – non-current (Note 4)	3,004	-	3,193	-
2570	Deferred income tax liabilities (Notes 4 and 28)	62,196	1	45,576	1
2580	Lease liabilities – non-current (Notes 4 and 17)	17,796	-	41,098	-
2645	Deposits received	224	-	224	-
25XX	Total non-current liabilities	704,053	7	803,781	10
2XXX	Total liabilities	6,806,537	69	5,144,736	62
Equity attributable to owners of the Company (Note 25)
Share capital
3110	Common shares	900,000	9	900,000	11
3200	Capital reserves	213,854	2	213,854	2
Retained earnings
3310	Legal reserves	299,190	3	288,862	4
3320	Special reserves	-	-	36,267	-
3350	Undistributed earnings	319,468	3	239,936	3
3300	Total retained earnings	618,658	6	565,065	7
3400	Other equity	( 39,337 )	-	79,081	1
31XX	Total equity of the owners of the Company	1,693,175	17	1,758,000	21
36XX	Non-controlling interests (Note 14)	1,395,442	14	1,447,844	17
3XXX	Total equity	3,088,617	31	3,205,844	38
Total liabilities and equity		$ 9,895,154	100	$ 8,350,580	100

The notes attached hereto constitute part of the consolidated financial statements.
(See the Independent Auditors' Report issued by Deloitte Taiwan on March 12, 2026)

Chairman: Albert Ting
General Manager: Johnson Hsiao
Chief Accountant: Kevin Chen

CX Technology Corporation and Subsidiaries
Consolidated Statement of Comprehensive Income
January 1 to December 31, 2025 and 2024

Unit: NTD thousand; NTD for earnings per share

Code		2025		2024
		Amount	%	Amount	%
	Operating revenues (Notes 4 and 26)
4100	Sales revenue	$ 1,691,170	71	$ 1,718,017	75
4800	Other operating revenues	674,376	29	569,802	25
4000	Total operating revenues	2,365,546	100	2,287,819	100
	Operating cost (Notes 10, 11, 13 and 27)
5110	Cost of sales	1,155,703	49	1,184,970	52
5800	Other operating costs	579,492	25	534,310	23
5800	Expected credit impairment loss	1,095	-	25,025	1
5000	Total operating costs	1,736,290	74	1,744,305	76
5900	Gross operating profit	629,256	26	543,514	24
	Operating expense (Notes 11 and 27)
6100	Marketing expense	69,707	3	73,839	3
6200	Management expense	210,234	9	194,963	8
6300	R&D expense	40,861	2	36,356	2
6450	Expected credit impairment loss (reversal gain)	228	-	( 372 )	-
6000	Total operating expenses	321,030	14	304,786	13
6510	Other net revenues, gains, expenses and losses (Notes 4 and 27)	37,939	2	( 8,632 )	( 1 )
6900	Net operating profits	346,165	14	230,096	10
	Non-operating revenues and expenses (Notes 4 and 27)
7100	Interest revenue	4,696	-	2,502	-
7190	Other revenues	1,786	-	8,919	1
7020	Other gains and losses	( 1,233 )	-	( 11,333 )	-
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Code		2025		2024
		Amount	%	Amount	%
7235	Net gain (loss) from financial assets measured at fair value through profit or loss	$ 166	-	($ 1,098)	-
7050	Financial cost	(34,050)	(1)	(37,050)	(2)
7770	Share of losses of associates accounted for using the equity method	-	-	(37,788)	(2)
7000	Total non-operating revenues and expenses	(28,635)	(1)	(75,848)	(3)
7900	Pre-tax profit	317,530	13	154,248	7
7950	Income tax expenses (Notes 4 and 28)	100,736	4	53,505	3
8200	Net profit in the current year	216,794	9	100,743	4
	Other comprehensive income (Notes 4, 8, 24 and 28)
	Items not reclassified as profit or loss
8311	Remeasurement of defined benefits plans	30	-	655	-
8316	Unrealized gains from financial assets measured at fair value through other comprehensive income	40	-	9,747	-
8349	Income tax related to items not reclassified	(1,456)	-	(2,080)	-
8310		(1,386)	-	8,322	-
	Items likely to be subsequently reclassified as profit or loss
8361	Exchange differences on translation of financial statements of foreign operations	(240,547)	(10)	142,034	6
8370	Share of other comprehensive income of associates accounted for using the equity method - exchange differences on translation of foreign financial statements	-	-	9,728	1
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Code		2025		2024
		Amount	%	Amount	%
8399	Income tax related to items likely to be reclassified	$ 29,612	1	($ 26,887)	(1)
8360		(210,935)	(9)	124,875	6
8300	Other after-tax comprehensive income (net) in the current year	(212,321)	(9)	133,197	6
8500	Total comprehensive income in the current year	$ 4,473	-	$ 233,940	10
	Net profit (loss) attributable to:
8610	Owners of the Company	$ 163,010	7	$ 102,757	4
8620	Non-controlling interests	53,784	2	(2,014)	-
8600		$ 216,794	9	$ 100,743	4
	Total comprehensive income attributable to:
8710	Owners of the Company	$ 43,175	2	$ 218,629	9
8720	Non-controlling interests	(38,702)	(2)	15,311	1
8700		$ 4,473	-	$ 233,940	10
	EPS (Note 29)
9750	Basic	$ 1.81		$ 1.14
9850	Diluted	$ 1.81		$ 1.14

The notes attached hereto constitute part of the consolidated financial statements.

(See the Independent Auditors' Report issued by Deloitte Taiwan on March 12, 2026)

Chairman: Albert Ting

General Manager: Johnson Hsiao

Chief Accountant: Kevin Chen

CX Technology Corporation and Subsidiaries

Consolidated Statement of Changes in Equity

January 1 to December 31, 2025 and 2024

Unit: NTD thousand

Code		Equity attributable to owners of the Company
		Common shares		Capital reserves	Retained earnings			Other equity items		Total	Non-controlling interests
		Number of shares (thousand shares)	Amount		Legal reserves	Special reserves	Undistributed earnings	Exchange differences on translation of financial statements of foreign operations	Unrealized gains (losses) from financial assets measured at fair value through other comprehensive income
A1	Balance on January 1, 2024	90,000	$ 900,000	$ 212,600	$ 288,862	$ 11,088	$ 161,834	($ 36,267)	$ -	$ 1,538,117	$ 1,117,186
B3	Allocation and distribution of earnings in 2023
Special reserves set aside	-	-	-	-	25,179	( 25,179 )	-	-	-	-
C7	Other capital reserve changes:
Changes in associates recognized using the equity method	-	-	1,254	-	-	-	-	-	1,254	-
D1	Net (loss) profit in 2024	-	-	-	-	-	102,757	-	-	102,757	( 2,014 )
D3	Other after-tax comprehensive income in 2024	-	-	-	-	-	524	107,550	7,798	115,872	17,325
D5	Total comprehensive income in 2024	-	-	-	-	-	103,281	107,550	7,798	218,629	15,311
O1	Cash dividends to the shareholders of subsidiaries	-	-	-	-	-	-	-	-	-	( 31,582 )
O1	Cash capital increase of subsidiaries	-	-	-	-	-	-	-	-	-	346,929
Z1	Balance on December 31, 2024	90,000	900,000	213,854	288,862	36,267	239,936	71,283	7,798	1,758,000	1,447,844
B1	Allocation and distribution of earnings in 2024
Legal reserves set aside	-	-	-	10,328	-	( 10,328 )	-	-	-	-
B5	Cash dividends to the Company's shareholders	-	-	-	-	-	( 108,000 )	-	-	( 108,000 )	-
B17	Reversed special reserves	-	-	-	-	( 36,267 )	36,267	-	-	-	-
D1	Net profit in 2025	-	-	-	-	-	163,010	-	-	163,010	53,784
D3	Other after-tax comprehensive income in 2025	-	-	-	-	-	( 1,417 )	( 118,449 )	31	( 119,835 )	( 92,486 )
D5	Total comprehensive income in 2025	-	-	-	-	-	161,593	( 118,449 )	31	43,175	( 38,702 )
O1	Cash dividends to the shareholders of subsidiaries	-	-	-	-	-	-	-	-	-	( 13,700 )
Z1	Balance on December 31, 2025	90,000	$ 900,000	$ 213,854	$ 299,190	$ -	$ 319,468	($ 47,166 )	$ 7,829	$ 1,693,175	$ 1,395,442

The notes attached hereto constitute part of the consolidated financial statements.
(See the Independent Auditors' Report issued by Deloitte Taiwan on March 12, 2026)

Chairman: Albert Ting

General Manager: Johnson Hsiao

Chief Accountant: Kevin Chen

CX Technology Corporation and Subsidiaries
Consolidated Statement of Cash Flows
January 1 to December 31, 2025 and 2024
Unit: NTD thousand

Code	Cash flow from operating activities	2025	2024
A10000	Pre-tax net profit in the current year	$ 317,530	$ 154,248
A20010	Gains, expenses and losses
A20100	Depreciation expense	202,795	227,172
A20200	Amortization expense	10,125	13,095
A20300	Expected credit loss	1,323	24,653
A20400	Net loss (gain) on financial assets and liabilities at fair value through profit or loss	8,513	( 7,591 )
A20900	Financial cost	216,651	202,696
A21200	Interest revenue	( 69,104 )	( 52,597 )
A22300	Share of losses of associates accounted for using the equity method	-	37,788
A22500	Net loss from disposal and scrapping of property, plant and equipment	3,538	3,915
A22800	Loss (gain) from disposal of intangible assets	187	( 4,511 )
A23700	Inventory valuation and obsolescence loss	6,152	1,555
A24100	Net loss from foreign currency exchange	6,304	1,295
A29900	Refund liabilities	340	8,684
A23100	Loss from disposal of investment under equity method	-	2,456
A29900	Gain from disposal of leases	( 223 )	-
A30000	Net changes in operating assets and liabilities
A31115	Financial instruments measured at fair value through profit or loss	( 130,584 )	14,619
A31150	Accounts receivable	( 14,848 )	33,655
A31180	Other receivables	( 43,927 )	19,207
A31180	Accounts receivable for settlement	( 42,451 )	( 441 )
A31200	Inventory	( 4,622 )	( 116,219 )
A31230	Prepayments	( 18,456 )	( 15,679 )
A31240	Other current assets	38,639	5,861
A31250	Margin loans receivable	( 1,469,682 )	106,765
A31990	Customer securities accounts	16,236	83,727
A32150	Accounts payable	52,948	12,890
A32180	Other payables	31,705	( 9,593 )
A32180	Accounts payable for settlement	75,423	19,108
A32230	Other current liabilities	( 1,390 )	3,823
A32240	Net defined benefit assets	( 15 )	( 4 )
A32990	Securities traders' equity	19,201	( 102,986 )
A32990	Futures traders' equity	( 35,471 )	31,964

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Code		2025	2024
A33000	Cash (outflow) inflow from operation	($ 823,163)	$ 699,555
A33100	Interest received	62,237	63,544
A33300	Interest paid	( 210,939)	( 205,131)
A33500	Income tax paid	( 59,626)	( 74,151)
AAAA	Net cash (outflow) inflow from operating activities	( 1,031,491)	483,817
	Cash flow from investing activities
B00040	Acquisition of financial assets measured at amortized cost	( 251,041)	( 14,567)
B01800	Acquisition of long-term equity investments accounted for using the equity method	-	( 41,314)
B02700	Purchase of property, plant and equipment	( 72,878)	( 74,955)
B02800	Proceeds from disposal of property, plant and equipment	529	1,679
B03700	Increase in deposits paid	( 800)	( 3,157)
B03800	Decrease in deposits paid	1,120	142
B04500	Purchase of intangible assets	( 3,763)	( 14,602)
B06700	Decrease (increase) in other non-current assets	( 141,419)	39,942
BBBB	Net cash outflow from investing activities	( 468,252)	( 106,832)
	Cash flow from financing activities
C00100	Increase in short-term loans	27,718,283	11,709,591
C00200	Decrease in short-term loans	( 25,974,459)	( 12,520,468)
C01600	Borrowing of long-term loans	1,142,857	1,400,000
C01700	Repayment of long-term loans	( 1,145,381)	( 1,223,857)
C03100	Decrease in deposits received	-	( 5)
C04020	Repayment of principal of lease liabilities	( 45,329)	( 51,076)
C04500	Distribution of cash dividends	( 108,000)	-
C05800	Payment of cash dividends to non-controlling interests	( 10,203)	( 31,042)
C05800	Changes in non-controlling interests	-	346,929
CCCC	Net cash inflow (outflow) from financing activities	1,577,768	( 369,928)
DDDD	Effect of changes in exchange rate on cash and cash equivalents	( 13,759)	17,690
EEEE	Net increase in cash and cash equivalents	64,266	24,747
E00100	Starting balance of cash and cash equivalents	477,489	452,742
E00200	Ending balance of cash and cash equivalents	$ 541,755	$ 477,489

The notes attached hereto constitute part of the consolidated financial statements.
(See the Independent Auditors' Report issued by Deloitte Taiwan on March 12, 2026)

Chairman: Albert Ting
General Manager: Johnson Hsiao
Chief Accountant: Kevin Chen

CX Technology Corporation and Subsidiaries
Notes to the Consolidated Financial Statements
January 1 to December 31, 2025 and 2024
(All amounts are in NTD thousand unless otherwise specified)

I. History of the Company

CX Technology Corporation (hereinafter referred to as “the Company”) is mainly engaged in the production and sale of various metalworks, electronic product parts/components, and plastic injection products as well as running and investing in relevant businesses. The Company’s stock was listed over the counter on the Taipei Exchange on January 13, 1998, and switched to exchange trading and officially listed on the Taiwan Stock Exchange on September 11, 2000.

Since 2007, the Company has focused on the R&D of a variety of metalworks and plastic injection products and the expansion of the business due to an adjustment to the operating structure. In order to increase operating efficiency, after receiving an order, the Company commissions a subsidiary overseas to process and produce finished products for sale.

The consolidated financial statements are presented in NTD, the Company’s functional currency.

II. Date and procedures of approval of the financial statements

The consolidated financial statements were approved for publication by the Board of Directors on March 12, 2026.

III. Application of new and amended standards and interpretations

(I) The International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), interpretations (of IFRIC) and pronouncements of interpretation (of SIC) (hereinafter collectively referred to as “IFRSs”), which have been approved and published by the Financial Supervisory Commission (hereinafter referred to as the “FSC”), have been applied for the first time.

Application of the IFRSs which have been approved and published by the FSC is unlikely to cause any material change to the Group’s accounting policies.

16 -

17 -

(II) FSC-approved IFRSs applicable in 2026

New/Amended/Revised standards and interpretations	Effective date as published by IASB
Amendment to IFRS 9 and IFRS 7 “Amendment to Classification and Measurement of Financial Assets”	January 1, 2026
Amendment to IFRS 9 and IFRS 7 “Contracts Referencing Nature-dependent Electricity”	January 1, 2026
“Annual Improvements to IFRS - Volume 11”	January 1, 2026
IFRS 17 Insurance Contracts (including the amendments of 2020 and 2021)	January 1, 2023

As of the date of approval and publication of the consolidated financial statements, the Group has assessed that the above amendments to standards are unlikely to have any significant effect on its financial position and performance.

(III) IFRSs published by the IASB but not yet approved and published by the FSC

New/Amended/Revised standards and interpretations	Effective date as published by IASB (Note 1)
Amendments to IFRS 10 and IAS 28 – “Sale or Contribution of Assets between an Investor and its Associate or Joint Venture”	TBD
IFRS 18 “Presentation and Disclosure in Financial Statements”	January 1, 2027 (Note 2)
IFRS19 “Subsidiaries without Public Accountability: Disclosures” (including amendments as of 2025)	January 1, 2027
Amendments to IAS 21 "Translation to a Hyperinflationary Presentation Currency"	January 1, 2027

Note 1: Unless otherwise specified, the new/amended/revised standards or interpretations above shall come into effect during annual reporting periods beginning on or after the respective effective date.

Note 2: On September 25, 2025, the Financial Supervisory Commission announced that IFRS 18 became effective for Taiwanese companies on January 1, 2028, and companies may choose to apply it earlier once approved by the Financial Supervisory Commission.

IFRS 18 “Presentation and Disclosure in Financial Statements” and related amendments

IFRS 18 will replace IAS 1 "Expression of Financial Statements", and the main changes include:

The Group assessed whether it had specific major operating activities, such as investing in a specific type of asset and providing financing to customers, thereby

dividing income and expenses in the income statement into operating, investing, financing, income tax, and discontinued operations categories.

The income statement shall be reported as operating income, pre-tax income before financing, and the sum and total of profit and loss.
Provide guidance on the consolidation and division of rules: The Group must identify the assets, liabilities, equity, income, expenses and cash flows arising from individual transactions or other matters, and classify and consolidate them based on the common characteristics, so that at least one of the items in the financial statements has a similar characteristic. Items with non-similarity characteristics in the main financial statements and notes shall be divided. The Group only marks "others" when informative marks cannot be found.
Increase the disclosure of performance measurement defined by the management: When the Group is engaged in public communication other than financial statement preparation, and when it communicates with financial statement users about the management's view of the Group's overall financial performance, it shall disclose relevant information about performance measurement defined by the management in a single note to the financial statements, including the description of the measurement, how to calculate, the adjustment of the sum or total of the items specified in IFRS accounting standards, and the income tax and non-controlling interests impact of the relevant adjustment items.

In addition, the following amendments to IAS 7 "Statement of Cash Flows" have been made:

When a Group prepares cash flows from operating activities using the indirect method, operating income is the starting point for adjustment.
The interest received by the Group is classified as investment activities, and interest paid and dividends paid are classified as financing activities. If a Group is assessed to have specific key operating activities, it must consider the types of dividend revenue, interest revenue, and interest expenses presented in the income statement to determine the appropriate classification of dividend collection, interest collection, and interest payment in the statement of cash flows. However, each of these cash flows can only be classified within a single activity in the statement of cash flows.

In addition to the effects above, as of the date of approval and publication of the consolidated financial statements, the Group's assessment of the effects of the above amendments to the standards and interpretations on its financial position and

18 -

performance has been in progress. The relevant effects will be disclosed after the assessment is completed.

IV. Summary of material accounting policies

(I) Statement of compliance

The consolidated financial statements were prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the IFRSs which have been approved and published by the FSC.

(II) Basis of preparation

Except for the financial instruments measured at fair value and the net defined benefit assets recognized at the present value of defined benefit obligations less the fair value of the plan assets, the consolidated financial statements were prepared on the basis of historical cost.

For fair value measurements, the inputs are categorized into Level 1, 2, and 3 based on their observability and significance:

Level 1 inputs: Quoted prices in active markets for identical assets or liabilities accessible on the measurement date (unadjusted).
Level 2 inputs: Inputs other than quoted prices within Level 1 that are observable for the asset or liability, either directly (i.e. the price) or indirectly (i.e. derived from the price).
Level 3 inputs: Unobservable inputs for the asset or liability.

(III) Criteria for classification of assets and liabilities as current and non-current

Current assets include:

assets held primarily for the purpose of trading;
assets expected to be realized within 12 months after the balance sheet date; and
cash and cash equivalents (excluding those restricted to be used for exchange or settlement of liabilities within 12 months after the balance sheet date).

Current liabilities include:

liabilities held primarily for the purpose of trading;
liabilities due for settlement within 12 months after the balance sheet date; and
liabilities whose settlement cannot be unconditionally deferred for at least 12 months after the balance sheet date.

Assets or liabilities other than those classified above as current are classified as non-current.

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(IV) Basis of consolidation

The consolidated financial statements incorporate the financial statements of the Company and the entities controlled thereby (subsidiaries). The consolidated financial statements of the subsidiaries have been properly adjusted to align their accounting policies with those of the Group. In preparing the consolidated financial statements, the transactions among the entities, account balances, revenues, gains, expenses and losses were eliminated as a whole. The total comprehensive income of the subsidiaries is attributable to the owners of the Company and non-controlling interests even if this results in the non-controlling interests having a negative balance.

For the details, shareholdings and scope of business of subsidiaries, see Note 14 and Tables 7 and 8.

(V) Foreign currency

In preparing their financial statements, entities have recorded any transaction in a currency other than their functional currency (a foreign currency) by translating that currency into their functional currency at the exchange rate on the date of the transaction.

Foreign currency monetary items are translated at the closing rate on each balance sheet date. Exchange differences arising from settlement or translation of monetary items are recognized in profit or loss in the current period.

Non-monetary items measured at fair value that are denominated in foreign currencies are translated based on the rates prevailing on the date when the fair value is determined. Exchange differences arising from the translation of non-monetary items are included in profit or loss for the current period, except for exchange differences arising from the translation of non-monetary items in respect of which gains and losses are recognized directly in other comprehensive income.

Foreign currency non-monetary items measured at historical cost are translated at the exchange rate on the transaction date without being retranslated.

In preparing the consolidated financial statements, the assets and liabilities of foreign operations (including subsidiaries whose countries of operation are different from those of the Company or which use currencies different from that used by the Company) have been translated into NTD at the exchange rate on each balance sheet date. Revenue, gain, expense and loss items have been translated at the average exchange rate in the current period, and the resulting exchange differences have been

20 -

recognized in other comprehensive income and attributable to the owners of the Company and non-controlling interests.

(VI) Margin loans

When the Group engages in trading securities for financing, the financing facilities provided to securities investors who purchased the stocks are recognized as margin loans receivable. The financiers use all the stocks they purchased for financing as collateral, which is recorded with a memorandum entry, and the collateral will be returned to the financiers after they fully repay the financial facilities.

(VII) Customer margin accounts/securities/futures traders' equity

The Group opens a dedicated account with a commercial bank to manage investors' securities trading margins. The margin account must be opened separately and not owned by the Group. The Group is only responsible for depositing and managing funds for investors. Changes in account funds are recognized in the asset item "customer securities account" and the liability item "securities/futures traders' equity."

(VIII) Accounts receivable and payable for settlement

The Group's securities brokerage business includes all payments made or received by the principal or financial securities institutions at the time of settlement of securities trading.

(IX) Inventory

Inventories include raw materials, materials, semi-finished goods, finished goods and work in process. Inventories are measured at the lower of cost and net realizable value. The cost and net realizable value of inventories other than those of the same category are compared on an item-by-item basis. Net realizable value means the estimated selling price in the ordinary course of business, less the estimated cost required for completion and the estimated cost necessary to complete the sale. The cost of inventories is calculated using the weighted average method.

(X) Investment in associates

Associates refer to entities over which the Group has significant influence and that is neither a subsidiary nor an interest in a joint venture.

The Group accounts for investment in associates using the equity method.

Under the equity method, the investment in associates is initially recognized at cost, and the amount of increase or decrease in the carrying amount of such investments after the date of acquisition depends on the Group's share of profits/losses

21 -

and other comprehensive income in the associates and the profits received therefrom. Additionally, changes in the Group’s share of equity in the associates are recognized in proportion to its shareholding percentage.

When the Group does not subscribe for the new shares issued by an associate based on its shareholding percentage, resulting in a change in its shareholding percentage and thus causing an increase or a decrease in the net equity value of the investment, capital reserves – changes in the net equity value of associates recognized using the equity method and investments accounted for using the equity method is adjusted based on the increase or decrease. However, if the subscription or acquisition of the shares is not based on the shareholding percentage, which leads to a decrease in the Group’s ownership equity in the associate, the amounts related to the associate in other comprehensive income are reclassified according to the percentage of such decrease. The reclassified amounts are treated with the same accounting treatment basis as the one which the associate’s direct disposal of relevant assets or liabilities should be in accordance with. If the said adjustment should be debited to capital reserves, and the balance of capital reserves arising from investment accounted for using the equity method is insufficient to be offset, the difference is debited to retained earnings.

For impairment assessment, the Group tests the entire carrying amount of the investment for impairment as a single asset by comparing the recoverable amount and carrying amount of the investment. Any recognized impairment loss is not allocated to any assets, including goodwill, that constitute the components of the carrying amount of the investment. Any reversal of the impairment loss is recognized to the extent that the amount of the investment subsequently increased.

Once the investment is not classified as investment in associates, the Group stops using the equity method and measures the retaining earnings of the former associates at fair value. The differences between the fair value of the retaining earnings, proceeds from disposal and the carrying amount of the investment on the date when the equity method is discontinued are recognized in profit or loss of the period. Besides this, for total amounts related to the associate in other comprehensive income, the basis of accounting treatment thereof is the same as the basis which the associate’s direct disposal of relevant assets or liabilities shall be in accordance with.

Profits or losses arising from the upstream, downstream and side-stream transactions between the Group and associates are recognized in the consolidated

22 -

financial statements only to the extent where such profits or losses do not involve the equity of the Group in the associates.

(XI) Property, plant and equipment

Property, plant and equipment are initially recognized at cost and subsequently measured at cost less accumulated depreciation and impairment losses.

Property, plant and equipment under construction is recognized at cost less accumulated impairment losses. Such assets will be classified to an appropriate category under property, plant and equipment and start to be accounted for in depreciation when they are completed and ready for their intended use.

Each significant part of property, plant and equipment is separately accounted for in depreciation on a straight line basis over its useful life. The Group reviews the estimated useful life, residual value, and method of depreciation at least at the end of each year and prospectively accounts for the effect from changes in accounting estimates.

For derecognition of the property, plant and equipment, the difference between the net disposal proceeds and the carrying amount of the asset is recognized in profit or loss.

(XII) Intangible assets

Separate acquisition

Intangible assets with a definite useful life acquired separately are initially measured at cost and subsequently measured at cost net of accumulated amortization. Intangible assets are amortized on a straight-line basis over their useful lives. Their estimated useful lives, residual values and methods of amortization are reviewed at least at the end of each year and the effect from changes in accounting estimates is accounted for prospectively.

Derecognition

For derecognition of any intangible asset, the difference between the net disposal proceeds and the carrying amount of the asset is recognized in profit or loss in the current period.

(XIII) Impairment of property, plant and equipment, right-of-use assets and intangible assets

The Group assesses whether there is any sign of possible impairment of property, plant and equipment, right-of-use assets, investment property and intangible assets on each balance sheet date. If any indication of impairment exists, the recoverable amount

23 -

of the asset shall be estimated. If the recoverable amount of an asset is not estimable, the Group estimates the recoverable amount of the cash generating unit of the asset.

The recoverable amount is the higher of the fair value less costs of sale and the value in use. When the recoverable amount of an asset or cash generating unit is less than its carrying amount, the carrying amount of the asset or cash generating unit is decreased to its recoverable amount, and the impairment loss is recognized in profit or loss.

When the impairment loss is reversed subsequently, the carrying amount of the asset or cash generating unit is increased to the revised recoverable amount, provided that the increased carrying amount does not exceed the carrying amount (less amortization or depreciation) of the asset or cash generating unit determined under the circumstance that the impairment loss of the asset or cash generating unit was not recognized in prior years. The reversal of impairment losses is recognized in profit or loss.

(XIV) Financial instruments

Financial assets and financial liabilities are recognized in the consolidated balance sheet when the Group becomes a party of the financial instrument contract.

For the initial recognition of financial assets and financial liabilities, if the financial assets or financial liabilities are not measured at fair value through profit or loss, they are measured at fair value plus transaction costs directly attributable to the acquisition or issuance of the financial assets or financial liabilities. Transaction costs directly attributable to acquisition or issuance of the financial assets or financial liabilities measured at fair value through profit or loss are immediately recognized in profit or loss.

Financial assets

The regular transactions of financial assets are recognized and derecognized based on the accounting on the transaction date.

(1) Type of measurements

Financial assets held by the Group are classified to financial assets at fair value through other comprehensive income, financial assets measured at amortized cost and investments in equity instruments measured through other comprehensive income at fair value.

A. Financial assets measured at fair value through profit or loss

24 -

Financial assets measured at fair value through profit or loss are financial assets mandatorily measured at fair value through profit or loss. Financial assets compulsorily measured at fair value through profit or loss include unspecified equity instrument investment measured at fair value through other comprehensive income, and investments not conforming with the classification of debt instrument measured at amortized cost or measured at fair value through other comprehensive income.

The financial assets measured at fair value through profit or loss are measured at fair value, and any profit or loss (excluding any dividends or interest generated from the financial assets) from remeasurement of the financial assets is recognized in profit or loss. For determination of the fair value, see Note 31.

B. Financial assets measured at amortized cost

If the Group’s invested financial assets meet both of the following two conditions, they are classified as financial assets measured at amortized cost:

a. The financial assets have been held under an operating model for the purpose of holding these assets to collect contractual cash flows; and
b. The contractual terms of the financial assets generate cash flows on a specific date that are solely for the purpose of paying principal and interest.

After initial recognition, financial assets measured at amortized cost (including cash and cash equivalents, debt instrument investment, margin loans receivable, accounts receivable measured at amortized cost, other receivables, accounts receivable for settlement, customer securities accounts, and guarantee deposits paid) are measured at the amortized cost equal to the total carrying amount determined using the effective interest method less any impairment loss. Any foreign currency exchange gain or loss is recognized in profit or loss.

The interest revenue is calculated as the effective interest rate times the total carrying amount of financial assets, except in the following two circumstances:

25 -

a. For any credit-impaired financial assets purchased or originated, the interest revenue is calculated as the credit-adjusted effective interest rate times the amortized cost of the financial assets.

b. For any financial assets which are not credit-impaired on purchase or origination but subsequently become credit-impaired, the interest revenue is calculated as the effective interest rate times the amortized cost of the financial assets in the reporting period after such credit impairment.

A credit-impaired financial asset means that the issuer or debtor has incurred significant financial difficulties or defaulted, that the debtor is likely to file for bankruptcy or other financial reorganization, or that the active market of the financial asset has disappeared due to financial difficulties.

Cash equivalents include highly liquid time deposits that are readily convertible to specified amounts of cash with an insignificant risk of changes in value within 3 months from the date of acquisition and are used to meet short-term cash commitments.

C. Investments in equity instruments measured at fair value through other comprehensive income

On initial recognition, the Group may irrevocably designate investments in equity instruments that is not held for trading and not recognized as contingent consideration as at FVTOCI.

Investments in equity instruments measured at fair value through other comprehensive income are measured at fair value. Subsequently the changes in fair value are reported in other comprehensive income and accumulated in other equity. On disposal of investments, the accumulated profit or loss is directly transferred to retained earnings and it is not reclassified to profit or loss.

The dividend from investments in equity instruments measured at fair value through other comprehensive income are recognized in profit or loss upon the Group's right to receive payment is established, except for apparently the dividend representing the recovery of the partial investment cost.

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(2) Impairment of financial assets

The Group assesses impairment losses on financial assets (including debt instrument investment, margin loans receivable and accounts receivable) measured at amortized cost based on expected credit losses on each balance sheet date.

Loss allowance for accounts receivable and margin loans receivable is recognized based on lifetime expected credit losses. For debt instrument investment and other financial assets, they are first assessed to see if the credit risk significantly increases after initial recognition or if the maintenance margin is lower than a specific percentage. If there is no significant increase or the maintenance margin is not lower than the specific percentage, the loss allowance is recognized based on 12-month expected credit losses. If there is a significant increase or the maintenance margin is lower than the specific percentage, the loss allowance is recognized based on lifetime expected credit losses.

Expected credit losses are weighted average credit losses with the risk of a default occurring as the weighting. Twelve-month expected credit losses represent the expected credit losses on a financial instrument resulting from possible default events within 12 months after the reporting date. Lifetime expected credit losses represent the expected credit losses on a financial instrument from all possible default events over the expected lifetime of the financial instrument.

For the purpose of internal credit risk management, the Group determines that a default has occurred on financial assets under any of the following circumstances without considering the collateral it holds:

A. Any internal or external information has indicated the debtor is unable to pay off debts.

B. Any payment is more than 60 to 180 days overdue, unless any reasonable and supportable information makes it appropriate to postpone the default criteria.

The impairment loss on all financial assets is deducted from the carrying amount of the financial assets through allowance accounts.

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(3) Derecognition of financial assets

The Group derecognizes a financial asset only when the contractual rights to the cash flows from the asset become invalid, or when the financial asset and almost all the risks and returns over the ownership of the asset are transferred to other companies.

For derecognition of a financial asset measured at amortized cost in its entirety, the difference between its carrying amount and the consideration received is recognized in profit or loss. On derecognition of Investments in equity instruments measured at fair value through other comprehensive income, the cumulative gain or loss that had been recognized in other comprehensive income is transferred directly to retained earnings, without recycling through profit or loss.

Equity instruments

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

The equity instruments issued by the Group are recognized at the acquisition price net of the direct issue cost.

Financial liabilities

(1) Subsequent measurement

Except for the following conditions, all financial liabilities are measured at amortized cost using effective interest method.

Financial liabilities measured at fair value through profit or loss

Financial liabilities measured at fair value through profit or loss include those held for transactions.

Financial liabilities held for trading are measured at fair value.

(2) Derecognition of financial liabilities

For derecognition of a financial liability, the difference between its carrying amount and the consideration paid (including any non-cash asset transferred or any liability assumed) is recognized in profit or loss.

Derivative instruments

The derivatives signed by the Group include exchange rate swaps contracts, which are used to manage the Group's interest rate and exchange rate risks.

28 -

Derivatives are initially recognized at fair value when a derivative contract is signed, and subsequently measured at fair value on the balance sheet date. The resulting gain or loss is recognized in profit or loss directly, except for derivatives designated as effective hedging instruments, for which the timing of profit or loss recognition in profit or loss depends on the nature of the hedging. When the fair value of the derivative is positive, it is classified as a financial asset; when the fair value is negative, it is classified as a financial liability.

(XV) Liability provision

The amount of a liability provision recognized is the best estimate of the expenses required to pay off obligations on the balance sheet date, which takes into account the risk and uncertainty of the obligations.

Refund liabilities are product returns and discounts that are considered likely to occur based on historical experience, the management’s judgment, and other known reasons and recorded as minus items of operating revenues in the year when the relevant products are sold.

The Group recognizes decommissioning and reinstatement obligations as liability reserves at the present value of the best estimate of the future economic outflow when it fulfills its reinstatement obligations under a lease.

(XVI) Revenue recognition

After identifying the performance obligations in a customer contract, the Group allocates the transaction price to each performance obligation, and then recognizes revenue after satisfying each performance obligation.

Revenue from sales of goods

The consolidated company’s revenue from sale of goods is from the sale of speaker parts, automobile and motorcycle parts, parts for travel use, and other customized parts. The Group recognizes revenue and accounts receivable at the point where the goods sold arrive at the customer-designated location or shipping point since the customer has the right to determine the price of the goods and use them, has the main responsibility to resell the goods, and takes the risk that the goods may become obsolete by then.

In the case of exporting materials for processing, control over the ownership of processed goods is not transferred, and revenue is not recognized at the time of export.

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Provision of services

Service revenue is recognized when services are provided.

(XVII) Leases

The Group assesses whether a contract is (or contains) a lease on the date of conclusion of the contract.

The Group is the lessee

The lease payments for leases of low-value underlying assets and short-term leases to which the recognition exemption applies are recognized as expense on a straight-line basis over the lease term. All other leases are recognized in right-of-use assets and lease liabilities on the lease commencement date.

Right-of-use assets are initially measured at cost (including the initially measured amount of lease liabilities) and subsequently measured at cost less accumulated depreciation, and then the remeasurement of the lease liabilities is adjusted. The right-of-use assets are separately presented in the consolidated balance sheet.

The right-of-use assets are depreciated on a straight-line basis over the period from the lease commencement date to the earlier of the expiration of the useful life or the lease term.

The lease liabilities are initially measured at the present value of lease payments (including fixed payments). If the interest rate implicit in the lease can be readily determined, the lease payments are discounted at the interest rate. When such interest rate cannot be readily determined, the lessee’s incremental borrowing rate of interest is used.

Subsequently, the lease liabilities are measured at amortized cost under the effective interest method, and the interest expenses are amortized over the lease term. The lease liabilities are separately presented in the consolidated balance sheet.

(XVIII) Cost of borrowing

All costs of borrowing are recognized as profit or loss in the period in which the borrowing occurred.

(XIX) Employee benefits

Short-term employee benefits

Liabilities related to short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the services rendered by employees.

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Post-employment benefits

Under the defined contribution retirement plan, pension contributions are recognized as expenses during the period when services are rendered by employees.

Defined benefit costs (including service costs, net interest, and remeasurement) under the defined benefit retirement plan are calculated actuarially using the projected unit credit method. Service costs and net interest on net defined benefit assets are recognized as employee benefit expenses at the time of their occurrence. Remeasurement (including actuarial profits or losses and return on plan assets less interest) is recognized in other comprehensive income and presented in retained earnings when it occurred. It is not reclassified into profit or loss in subsequent periods.

The net defined benefit liability (asset) represents the deficit (surplus) of the Group’s defined benefit plan.

(XX) Income tax

Income tax expenses are the total of current income tax and deferred income tax.

Current income tax

The Group determines the current income (loss) in accordance with the laws and regulations of the income tax jurisdiction, and with these as a basis, calculates the income tax payable (recoverable).

The additional income tax levied on undistributed earnings calculated in accordance with the Income Tax Act of the Republic of China is recognized in the year when the related resolution is adopted at the shareholders’ meeting.

Adjustments to the income tax payable in prior years are recognized in current income tax.

Deferred income tax

Deferred income tax is calculated based on the temporary difference between the carrying amount of assets and liabilities in the consolidated financial statements and the tax base for calculation of taxable income.

Deferred income tax liabilities are generally recognized based on all taxable temporary differences; deferred income tax assets are recognized when it is likely that there will be taxable income available to offset the deductible temporary differences and loss carryforwards.

31 -

Taxable temporary differences associated with investments in subsidiaries and associates are recognized as deferred income tax liabilities unless the Group is able to control the timing of the reversal of the temporary differences and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred tax assets for deductible temporary differences associated with such investments and interests are recognized only to the extent that it is probable that sufficient taxable income will be available against which the temporary differences can be utilized, and that they are expected to reverse in the foreseeable future.

The carrying amount of deferred income tax assets is reviewed on each balance sheet date and reduced to the extent where it is no longer probable that sufficient taxable income will be available to allow the recovery of all or part of the assets. Those that are not initially recognized as deferred income tax assets are also reviewed on each balance sheet date and increased to the extent that it is probable that sufficient taxable income will be available in the future to allow the recovery of all or part of the assets.

Deferred income tax assets and liabilities are measured at the tax rate of the period when the liabilities or assets are expected to be settled or realized. The tax rate is based on the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax liabilities and assets are measured to reflect the tax consequences that would follow from the manner in which the Group expects, at the balance sheet date, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred income taxes

Current and deferred income taxes are recognized in profit or loss, except for those related to items recognized in other comprehensive income or directly presented in equity, which are recognized separately in other comprehensive income or directly presented in equity.

V. Main sources of uncertainty of material accounting judgments, estimates and assumptions

In adopting accounting policies, the management of the Group must make judgments, estimates and assumptions in respect of information that is not readily available from other sources based on historical experience and other relevant factors. The actual results could differ from the estimates.

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With material accounting estimates taken into account, the management will continue to review the estimates and basic assumptions. If a correction of the estimates affects only the current period, it is recognized in the period when it is made. If a correction of the estimates affects both the current and future periods, it is recognized in the period when it is made and in the future period.

Main source of uncertainty of estimates and assumptions

Estimated impairment of financial assets

The estimated impairment of accounts receivable, margin loans receivable and financial assets measured at amortized cost is based on the Group's assumptions about the probability of default and loss given default. The Group takes into account historical experience, current market conditions, and forward-looking information to make assumptions and select inputs for impairment assessment. See Notes 10 and 11 for the important assumptions and inputs used. If the actual cash flow in the future is less than what the Group expected, a significant impairment loss may occur.

VI. Cash and cash equivalents

	December 31, 2025	December 31, 2024
Cash on hand and working capital	$ 1,177	$ 1,188
Bank checks and demand deposits	444,367	361,226
Cash equivalents
Time bank deposits with an original date of maturity within 3 months	96,211	115,075
	$ 541,755	$ 477,489

Bank deposits	December 31, 2025	December 31, 2024
	0.00%~4.75%	0.00%~4.75%

VII. Financial instruments measured at fair value through profit or loss

	December 31, 2025	December 31, 2024
Financial assets measured at fair value through profit or loss – current
Mandatory measurement at fair value through profit or loss
Derivatives (not under hedging)
Exchange rate swap contract	$ -	$ 7,889
Non-derivative financial assets
Operating securities	47,054	-
Beneficiary certificate of funds	88,859	75,314
Overseas listed stocks	97,129	19,122
Domestic non-listed (non-OTC) stocks	69,399	72,217
	$ 302,441	$ 174,542
Financial liabilities measured at fair value through profit or loss – current
Financial liabilities held for trading
Liabilities for issuance of call (put) warrants	$ 196,158	$ -
Repurchase of issued call (put) warrants	( 184,806 )	-
Derivatives (not under hedging)
Exchange rate swap contract	304	-
	$ 11,656	$ -

(I) The exchange contracts to which hedge accounting is not yt applied on the balance sheet date and not yet matured are as follows:

December 31, 2025

	Currency	Maturity period	Contract amount (NTD thousand)
Exchange rate swap contract	(USD:VND)	January 8, 2026
February 12, 2026	USD94,000 / VND 2,479,354,000

December 31, 2024

	Currency	Maturity period	Contract amount (NTD thousand)
Exchange rate swap contract	(USD:VND)	January 15 to March 26, 2025	USD 35,000/
VND 887,352,000

The purpose of the Group's exchange transactions is to hedge the risk of exchange rate fluctuations arising from foreign currency assets and liabilities.

(II) Operating securities (As of December 31, 2024: None)

	December 31, 2025
Overseas listed stocks	$ 46,838
Valuation adjustment	216
	$ 47,054

(III) Liabilities for issuance of and repurchase of issued call (put) warrants (As of December 31, 2024: None)

	December 31, 2025
Liabilities for issuance of call (put) warrants	$ 118,287
Gain from changes in the value of liabilities for issuance of call (put) warrants	77,871
	196,158
Repurchase of issued call (put) warrants	( 104,198 )
Value change loss from repurchase of issued call (put) warrants	( 80,608 )
	( 184,806 )
Net liabilities for issuance of call (put) warrants	$ 11,352

VIII. Financial assets measured at fair value through other comprehensive income

	December 31, 2025	December 31, 2024
Non-current
Equity instrument investment
PHU HUNG LIFE
INSURANCE JOINT
STOCK COMPANY
(PHU HUNG LIFE)	$ 149,132	$ 155,740

The Group's investment in the common stocks of PHU HING LIFE was initially evaluated using the equity method; however, the Group lost its significant influence over its management in October 2024. Nevertheless, the Group's equity in the company is still held for a long term, in order to avoid the short-term fair value fluctuations of the investment recognized in profit or loss, which deviates from the purpose of long-term investment planning. As a result, the investment is designated as the financial asset measured at fair value through other comprehensive income.

IX. Financial assets measured at amortized cost

	December 31, 2025	December 31, 2024
Current
Foreign investment
Time deposits with an original maturity date beyond 3 months (I)	$ 35,830	$ 166,220
Pledged time deposits (II)	778,029	792,155
	$ 813,859	$ 958,375
Non-current
Domestic investment
Restricted bank deposits	$ 1	$ -
Pledged accounts receivable	120,000	120,000
Foreign investment
Corporate Bonds (III)	119,434	-
Secured Corporate Bonds (III)	179,151	-
Less: Accumulated impairment losses	( 1,190 )	-
	$ 417,396	$ 120,000

(I) As of December 31, 2025 and 2024, the interest rates on time deposits with original maturities of more than three months were 5.30% and 4.80%–5.20%, respectively.

(II) As of December 31, 2025 and 2024, the market rates for the pledged time deposits were 1.00% – 6.10% and 2.00% – 5.70%, respectively.

(III) In April 2025, the Group purchased VND 100,000,000 thousand in 8-year common corporate bonds of Vietinbank at face value, with a coupon rate of 5.73%. In addition, the Group purchased 7-year ordinary bonds of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) in May and November 2025 with face values of VND 50,000,000 thousand and VND 100,000,000 thousand, respectively, at coupon rates of 5.68% and 6.03%, respectively.

(IV) For credit risk management, impairment assessment, and pledge information related to financial assets measured at amortized cost, please refer to Notes 10 and 33.

X. Risk management for debt instruments

	December 31, 2025	December 31, 2024
Total carrying amount	$ 1,232,445	$ 1,078,375
Loss allowance	( 1,190 )	-
Amortized cost	$ 1,231,255	$ 1,078,375

(I) Debt instruments invested in by the Group are classified as financial assets measured at amortized cost.

(II) Credit risk management for debt instrument investment:

Time deposits: The Group’s investments in certificates of deposit are with financial institutions that have high credit quality. Therefore, the possibility of default by these counterparties is expected to be very low. The Group also maintains cash deposits in several reputable financial institutions and periodically evaluates their credit standing. Management believes that credit risk is limited with respect to time deposits.
Pledged accounts receivable: The credit risk assessment is detailed in Note 11.
Corporate bonds: The Group invests only in debt instruments with low credit risk and continuously monitors changes in the credit risk of its investments. The Group considers historical probability of default and loss given default provided by external rating agencies, along with the debtor's current financial status and the prospects of its industry, to measure the twelve-month expected credit losses or lifetime expected credit losses of debt instrument investments.

The total carrying amount of the Group's debt instrument investment in corporate bonds based on expected credit loss assessment was as follows (December 31, 2024: None):

Credit rating	Basis for recognition of expected credit losses	December 31, 2025
		Expected credit loss rate	Total carrying amount
Normal	12-month expected credit risk	0.39294%	$ 298,585

Information about changes in loss allowances for corporate bonds is as follows (2024: none):

	Credit rating
	Twelve-month expected credit losses	Lifetime expected credit losses and no credit impairment	Lifetime expected credit losses and credit impairment
Balance on January 1, 2025	$ -	$ -	$ -
Add: Impairment losses set aside in the year	1,190	-	-
Balance on December 31, 2025	$ 1,190	$ -	$ -

XI. Margin loans receivable, accounts receivable, accounts receivable for settlement and other receivables

	December 31, 2025	December 31, 2024
Measurement at amortized cost
Margin loans receivable
Total carrying amount	$ 4,934,686	$ 3,691,119
Less: Loss allowance	( 66,831 )	( 71,600 )
	$ 4,867,855	$ 3,619,519
Accounts receivable
Total carrying amount	$ 374,470	$ 362,812
Less: Loss allowance	( 604 )	( 376 )
Classified to financial assets measured at amortized cost
– non-current	( 120,000 )	( 120,000 )
	$ 253,866	$ 242,436
Accounts receivable for settlement
Brokered trading	$ 29,662	$ 835
Self-trading	-	797
	$ 29,662	$ 1,632
Other receivables
Interest receivable	$ 103,239	$ 65,582
Business tax refund receivable	501	81
Others	15,732	8,127
	$ 119,472	$ 73,790

(I) Margin loans receivable

Margin loans receivable are secured by stocks purchased by customers for financing purposes.

The Group keeps track of changes in the credit risk of margin loans receivable on an on-going basis and reviews any significant information about the debtors to see if there is a significant increase in the credit risk of the margin loans receivable after initial recognition. To mitigate the credit risk, the management of the Group has appointed a team dedicated to the assessment of the default risk of the margin loans receivable. For the margin loans receivable separately assessed and considered to have the probability of impairment, an allowance for bad debts, net of the value of their collateral, is recognized for 100% of the margin loans receivable.

The total book value of the margin loans receivable as assessed by the Group based on the expected credit loss is as follows:

Credit rating	Basis for recognition of expected credit losses	December 31, 2025		December 31, 2024
		Expected credit loss rate	Total carrying amount	Expected credit loss rate	Total carrying amount
The credit risk does not significantly increase after initial recognition	12-month expected credit risk	0.00362%	$ 4,858,337	0.00566%	$ 3,609,324
The credit risk significantly increases or a credit loss occurs after initial recognition	Lifetime expected credit losses and the collateral value insufficient to cover the credit losses	100% after deducting the value of the collateral	76,349	100% after deducting the value of the collateral	81,795
			$ 4,934,686		$ 3,691,119

Information on changes in the loss allowance for margin loans receivable:

	Credit rating
	The credit risk does not significantly increase after initial recognition (12-month expected credit risk)	The credit risk significantly increases or a credit loss occurs after initial recognition (Lifetime expected credit losses and the collateral value insufficient to cover the credit losses)
Balance on January 1, 2025	$ 195	$ 71,405
Less: Impairment losses reversed in the year	( 9 )	( 86 )
Differences from foreign currency translation	( 15 )	( 4,659 )
Balance on December 31, 2025	$ 171	$ 66,660
Balance on January 1, 2024	$ -	$ 47,140
Add: Impairment losses set aside in the year	192	24,833
Less: Actual write-off amount in the year	-	( 1,283 )
Differences from foreign currency translation	3	715
Balance on December 31, 2024	$ 195	$ 71,405

(II) Accounts receivable

Accounts receivable measured at amortized cost

The Group takes out accounts receivable insurance for goods sold and regularly reviews the recoverability of accounts receivable from customers based on an aging

analysis of the accounts receivable from the customers, their credit ratings, the economic environment, and other factors. The average credit period for the sale of goods is 60–90 days and no interest accrues on the accounts receivable. To reduce the credit risk, the Group’s management appoints a team dedicated to the determination of credit limits, credit approval, and the implementation of other monitoring procedures to ensure appropriate actions are taken for the recovery of overdue receivables. In addition, the Group reviews the recoverable amount of receivables one by one on the balance sheet date to make sure appropriate impairment losses have been set aside for the receivables that cannot be recovered. Thus, the management of the Group believes that the credit risk that the Group is exposed to has been mitigated significantly.

The Group recognizes the loss allowance for accounts receivable based on the lifetime expected credit losses. The lifetime expected credit losses are calculated using a provision matrix with consideration of the customers’ historical default record and current financial position as well as industrial and economic situations. The Group divides customers into different risk groups based on whether they have insurance, and recognizes loss allowances based on the expected loss rates of each group. In addition, for the accounts receivable that are more than 60 days overdue, the Group recognizes a loss allowance of 10% of the accounts receivable if the amount of the accounts receivable is within the insured amount; otherwise, a loss allowance of 100% of the accounts receivable is recognized.

If there is any evidence indicating that the counterparty is faced with severe financial difficulties and that the Group is not able to reasonably expect any recoverable amount, e.g. the counterparty is undergoing liquidation, the Group directly writes off the relevant accounts receivable and will continue to pursue recourse actions. All amounts recovered through recourse are recognized in profit or loss.

The Group’s loss allowances for accounts receivable measured using the provision matrix are as follows:

December 31, 2025

	Not overdue	Overdue 1 to 60 days	Overdue 61 to 120 days	Overdue 121 to 180 days	Overdue more than 181 days	Total
Total carrying amount	$ 333,305	$ 40,017	$ 613	$ -	$ 535	$ 374,470
Loss allowance (lifetime expected credit losses)	( 23 )	-	( 54 )	-	( 527 )	( 604 )
Amortized cost	$ 333,282	$ 40,017	$ 559	$ -	$ 8	$ 373,866

December 31, 2024

	Not overdue	Overdue 1 to 60 days	Overdue 61 to 120 days	Overdue 121 to 180 days	Overdue more than 181 days	Total
Total carrying amount	$ 312,161	$ 46,841	$ 7	$ -	$ 3,803	$ 362,812
Loss allowance (lifetime expected credit losses)	( 3 )	( 7 )	( 1 )	-	( 365 )	( 376 )
Amortized cost	$ 312,158	$ 46,834	$ 6	$ -	$ 3,438	$ 362,436

Information on changes in the loss allowance for accounts receivable is as follows:

	2025	2024
Balance at beginning of year	$ 376	$ 815
Add: Impairment losses set aside in the year	228	-
Less: Actual write-off in the year	-	( 109 )
Less: Impairment losses reversed in the year	-	( 372 )
Differences from foreign currency translation	-	42
Balance at end of year	$ 604	$ 376

(III) Accounts receivable for settlement and other receivables

For other receivables that are overdue as of the balance sheet date and for which the Group has not recognized a loss allowance, the Group considers they are recoverable since there is no significant change in their credit quality.

The following is an age analysis of the accounts receivable for settlement and other receivables overdue but not impaired:

	December 31, 2025	December 31, 2024
Overdue less than 60 days	$ 29	$ 2,169
61 to 120 days	-	-
121 to 180 days	-	1
181 or more days	398	2,095
	$ 427	$ 4,265

The age analysis shown above is conducted with the number of overdue days as the basis.

XII. Customer securities accounts/securities/futures traders' equity

	December 31, 2025	December 31, 2024
Customer securities accounts	$ 834,674	$ 908,742
Adjusted item:
Timing difference	( 69 )	( 92 )
Sum of securities and futures
traders' equity	$ 834,605	$ 908,650
Securities traders' equity	$ 252,685	$ 245,594
Futures traders' equity	581,920	663,056
	$ 834,605	$ 908,650

XIII. Inventory

	December 31, 2025	December 31, 2024
Finished goods	$ 117,871	$ 133,960
Semi-finished goods	16,541	16,717
Work in process	51,268	56,991
Raw materials	158,294	150,112
Materials	42,742	42,564
In-transit inventory	1,873	4,852
	$ 388,589	$ 405,196

The cost of sales related to inventory in 2025 and 2024 was NTD 1,155,703 thousand and NTD 1,184,970 thousand, respectively.

The cost of sales in 2025 and 2024 included the allowance (reversal) for doubtful accounts and obsolete inventory losses of NTD 6,152 thousand and NTD 1,555 thousand, respectively.

XIV. Subsidiary

(I) Subsidiaries included in the consolidated statements

Entities in the consolidated financial statements prepared are as follows:

Name of investor company	Name of subsidiary	Nature of business	Shareholding percentage		Descripti on
			December 31, 2025	December 31, 2024
The Company	CX Technology (Cayman) Corporation (hereinafter referred to as “CX Cayman”)	General investment	100.0%	100.0%	(1)
	CX Investment and Consulting Corporation (hereinafter referred to as “CX Investment and Consulting”)	General investment	100.0%	100.0%	(2)
	Merrimack River Precision Industrial Corporation (hereinafter referred to as “Merrimack River Precision”)	Production and sale of plastic injection parts	100.0%	100.0%	(3)
CX Cayman	CX Technology (VN) Corporation (hereinafter referred to as “CX VN”)	Production and sale of metal parts	51.0%	51.0%	(4)
	CX VN Holding Corporation (hereinafter referred to as “CX VN Holding”)	General investment	100.0%	100.0%	(5)
	CX Development Limited (hereinafter referred to as “CX Development”)	General investment	100.0%	100.0%	(6)
	Phu Hung Far East Holding Corporation (hereinafter referred to as “Phu Hung Far East Holding”)	General investment	100.0%	100.0%	(8)
	Fortune CX Holding Corporation (hereinafter referred to as “Fortune CX Holding”)	General investment	100.0%	100.0%	(13)
	CX Technology (Samsa) Corporation (hereinafter referred to as “CX Samsa”)	General investment	100.0%	100.0%	(14)
	Phu Hung Lien Development Corporation (hereinafter referred to as “PHLD”)	General investment	100.0%	100.0%	(16)

	Danh Tuyen Development Company Limited (hereinafter referred to as “Danh Tuyen”)	General investment	-	-	(10)(17)
CX VN Holding	CX Technology (VN) Corporation (hereinafter referred to as “CX VN”)	Production and sale of metal parts	49.0%	49.0%	(4)
CX Development	CX Technology (Shanghai) Corporation (hereinafter referred to as “CX Shanghai”)	Production and sale of metal parts	100.0%	100.0%	(9)
Phu Hung Far East Holding	PHU HUNG SECURITIES CORPORATION (hereinafter referred to as “PHU HUNG SECURITIES”)	Stock dealership and brokerage	46.0%	46.0%	(7)
CX Investment and Consulting	Norrice Group Ltd. (hereinafter referred to as “Norrice”)	General investment	67.4%	67.4%	(10)
Merrimack River Precision	Merrimack River Precision Industrial ( Samoa ) Corporation (hereinafter referred to as “Merrimack River (Samoa)”)	General investment	100.0%	100.0%	(11)
Merrimack River (Samoa)	Merrimack River Precision Industrial Corporation (hereinafter referred to as “Merrimack River”)	General investment	100.0%	100.0%	(11)
Merrimack River	Merrimack River Precision Industrial ( HD ) Co., Ltd. (hereinafter referred to as “Merrimack River (HD)”)	Production and sale of plastic injection parts	100.0%	100.0%	(12)
CX Samoa	Timing International Trade (Shanghai) Co., Ltd. (hereinafter referred to as “Timing (Shanghai)”)	General trade	100.0%	100.0%	(15)

(1) Founded in February 2002, CX Cayman operates mainly as an investment holding company. CX Cayman conducted a cash capital increase of USD 7,800 thousand and USD 2,285 thousand in November and March 2024, respectively. As of December 31, 2025, CX Cayman’s paid-in capital was USD 78,895 thousand.

(2) Founded in June 1998, CX Investment and Consulting is mainly engaged in investment activities. CX Investment and Consulting executed capital increase of USD 100 thousand in September 2025. As of December 31, 2025, CX Investment and Consulting’s paid-in capital was USD 3,200 thousand.

(3) Merrimack River Precision was founded in September 2013 and specializes in the design, development, and manufacture of multi-purpose and multifunctional plastic injection components.

In May 2024, Merrimack River Precision passed a resolution on behalf of the Board of Directors for the 2023 loss compensation proposal and the execution of capital reduction for loss compensation of NTD 11,731 thousand and 11,173 thousand shares were canceled. In addition, , cash capital increase was executed immediately after the aforementioned capital reduction, and 11,173 thousand new shares were issued at a par value of NTD 10 per share, for a total of NTD 111,731 thousand. After the capital increase, the paid-in capital was NTD 120,000 thousand.

(4) Founded in March 1996, CX VN is mainly engaged in the production and sale of metal parts. CX VN held an annual general meeting in October 2022, where a resolution to distribute a cash dividend of USD 15,539 thousand was adopted Outward remittance. However, due to the legal restrictions on the

remittance of the local earnings in Vietnam, up to the date of December 31, 2025, a remaining amount of USD 14,039 has not yet been remitted.

(5) Founded in September 2007, CX VN Holding operates mainly as an investment holding company. CX VN Holding’s board of directors resolved to distribute cash dividends of USD 9,520 thousand on in November 2022. However, since sufficient dividends have not been collected from CX VN, an amount of USD8,785 has not been remitted.

(6) Founded in Hong Kong in November 2007, CX Development operates mainly as an investment holding company.

(7) Founded in November 2006 upon the approval of the national competent authority in Vietnam, PHU HUNG SECURITIES is mainly engaged in financial securities activities. CX Cayman was approved by the national competent authority in Vietnam for investing in PHU HUNG SECURITIES in February 2008 and adjusted its organizational structure in 2013 to transfer its equity in PHU HUNG SECURITIES in whole to Phu Hung Far East Holding. The chairman of PHU HUNG SECURITIES is the same as that of the Group.

PHU HUNG SECURITIES’s stock was officially listed for trading on the UPCOM (a trading platform for non-publicly listed companies) on July 31, 2019.

PHU HUNG SECURITIES held annual general shareholders’ meetings in April 2025 and April 2024, and the meetings also resolved the distribution of cash dividends of VND 20,000,933 thousand for 2024 and cash dividends of VND 45,002,799 thousand for 2023, respectively.

In addition, PHU HUNG SECURITIES also held a shareholders’ meeting in April 2024 to resolve the execution of cash capital increase of VND 500,000,000 thousand. Phu Hung Far East Holding executed capital increase of VND 230,000,000 thousand (USD 9,102 thousand) according to the shareholding percentage in October 2024. After the capital increase, the paid-in capital of PHU HUNG SECURITIES was VND 2,000,098,190 thousand.

(8) Founded in April 2013, Phu Hung Far East Holding operates mainly as an investment holding company.

44 -

Phu Hung Far East Holding executed capital increase of USD6,700 thousand in November 2024. As of December 31, 2025, Phu Hung Far East Holding’s paid-in capital was USD 35,030 thousand.

(9) CX Shanghai is a company in Mainland China 100% invested through CX Cayman upon the approval of the Ministry of Economic Affairs in August 2002. It is mainly engaged in the production and sale of some speaker parts.

(10) Founded in July 1995, Norrice is mainly engaged in investment activities. Hung Thanh Development Company Limited, in which Norrice invested, is mainly an investment holding company, and Norrice transferred its equity to CX Cayman in December 2025.

(11) Founded in April 2013, Merrimack River (Samoa) and Merrimack River are mainly engaged in investment activities.

Merrimack River (Samoa) conducted a cash capital increase of USD 200 thousand, USD 3,000 thousand, and USD 50 thousand in October 2025 and May and March 2024, respectively. As of December 31, 2025, its paid-in capital was USD 12,720 thousand.

Merrimack River executed capital increase of USD 2,500 thousand in May 2024, respectively. As of December 31, 2025, Merrimack River’s paid-in capital was USD 9,500 thousand.

(12) Founded during March 2014, Merrimack River (HD) is mainly engaged in the production and sale of plastic injection parts.

Merrimack River (HD) executed cash capital increase of USD 2,500 thousand in July 2024, and completed the local business registration license alternation in Vietnam. After the capital increase, its paid-in capital was USD 9,500 thousand.

(13) Founded in April 2014, Fortune CX Holding is mainly engaged in investment activities. Fortune CX Holding conducted a cash capital increase of USD 685 thousand in March 2024. As of December 31, 2025, its paid-in capital was USD 11,035 thousand.

(14) Founded in March 2015, CX (Samoa) operates mainly as an investment holding company.

CX(Samoa) conducted a cash capital increase of USD 1,100 thousand and USD 1,000 thousand in November and March 2024, respectively. As of December 31, 2025, its paid-in capital was USD 7,200 thousand.

45 -

(15) Timing (Shanghai) was founded in October 2017. It is mainly a general trade company.

(16) Founded in November 2016, PHLD operates mainly as an investment holding company. PHLD conducted a cash capital increase of USD 600 thousand in March 2024. As of December 31, 2025, its paid-in capital was USD 7,910 thousand.

(17) It is mainly an investment holding company. As of December 31, 2025, the Group had not yet remitted the capital contribution.

(II) Information of subsidiaries with material non-controlling interests

Name of subsidiary	Principal place of business	Shareholding and voting rights of non-controlling interests (%)
		December 31, 2025	December 31, 2024
Norrice Group Ltd.	British Virgin Islands	32.6%	32.6%
Phu Hung Securities Corporation	Ho Chi Minh City	54.0%	54.0%

For information regarding the principal place of business and the country of registration of the subsidiary, see Table 7.

	(Losses) Gains distributed to non-controlling interests		Non-controlling interests
Name of subsidiary	2025	2024	December 31, 2025	December 31, 2024
Norrice Group Ltd.	($ 1,618)	($ 1,412)	$ 22,019	$ 24,670
Phu Hung Securities Corporation	55,402	( 602)	1,373,423	1,423,174
Total	$ 53,784	($ 2,014)	$ 1,395,442	$ 1,447,844

The following summary of the financial information of the subsidiaries has been prepared based on the amounts before the transactions among them were eliminated: Norrice Group Ltd.

	December 31, 2025	December 31, 2024
Current assets	$ 121	$ 84
Non-current assets	70,627	77,901
Current liabilities	( 3,226 )	( 2,333 )
Equity	$ 67,522	$ 75,652

(Continued to next page)

(Continued from previous page)

	December 31, 2025	December 31, 2024
Equity attributable to:
Owners of the Company	$ 45,503	$ 50,982
Non-controlling interests	22,019	24,670
	$ 67,522	$ 75,652
	2025	2024
Net loss in the current year	($ 4,962)	($ 4,330)
Net loss attributable to:
Owners of the Company	($ 3,344)	($ 2,918)
Non-controlling interests	( 1,618)	( 1,412)
	($ 4,962)	($ 4,330)
Phu Hung Securities Corporation
	December 31, 2025	December 31, 2024
Current assets	$ 6,979,788	$ 5,835,955
Non-current assets	564,932	159,537
Current liabilities	( 4,975,157)	( 3,328,537)
Non-current liabilities	( 26,187)	( 31,449)
Equity	$ 2,543,376	$ 2,635,506
Equity attributable to:
Owners of the Company	$ 1,169,953	$ 1,212,332
Non-controlling interests	1,373,423	1,423,174
	$ 2,543,376	$ 2,635,506
	2025	2024
Net profit (loss) in the current year	$ 102,597	($ 1,115)
Net profit (loss) attributable to:
Owners of the Company	$ 47,195	($ 513)
Non-controlling interests	55,402	( 602)
	$ 102,597	($ 1,115)

XV. Investments accounted for using the equity method

	December 31, 2025	December 31, 2024
Individual immaterial associates
Non-listed (non-OTC) companies
PHU HUNG LIFE
INSURANCE JOINT
STOCK COMPANY
(PHU HUNG LIFE)	$ -	$ -

Summary of information on individual immaterial associates (In 2025: None):

	January 1 to October 30, 2024
Share of the Group
Net loss in the current year	($ 37,789)
Other comprehensive income	9,728
Total comprehensive income	($ 28,061)

In January 2024, the shareholders' meetings of PHU HSIEN LIFE resolved to execute cash capital increase of NTD 324,797 thousand (VND 250,000,000 thousand). The Group invested NTD 41,314 thousand (VND 31,800,000 thousand) in accordance with the shareholding percentage.

The Group holds 12.7% of the equity of PHU HING LIFE, initially evaluated under the equity method. Due to the adjustment of the Group’s investment strategy, the Board of Directors of the Group resolved in August 2024 not to participate in the subsequent capital increase of PHU HING LIFE, and thus the Group lost significant influence on the company's management, and the equity method was not further applied, and the equity was transferred to financial assets measured at fair value through other comprehensive income. The fair value of the equity held by the Group on the date of loss of significant influence was NTD 142,614 thousand (VND 111,278,391 thousand), and the calculation of the amount recognized under profit or loss, and a disposal loss of NTD 2,465 thousand was recognized.

The share of profits/ losses and other comprehensive income in associates accounted for using the equity method was recognized based on the financial statements of each associate for the same period audited by CPAs.

48 -

XVI. Property, plant and equipment

	Premises and improvements	Machinery and equipment	Transportation equipment	Leasehold improvements	Molding equipment	Miscellaneous equipment	Construction in progress and equipment to be inspected	Total
Cost
Balance on January 1, 2025	$ 485,898	$ 1,164,451	$ 4,581	$ 22,337	$ 60,603	$ 116,315	$ 1,687	$ 1,855,872
Addition	-	-	-	-	-	130	63,674	63,804
Disposal	( 28,045)	( 121,839)	( 265)	-	( 61)	( 12,706)	-	( 162,916)
Internal transfer	5,215	29,442	-	-	10,243	1,977	( 42,939)	3,938
Net exchange difference	( 14,645)	( 51,479)	( 263)	( 504)	( 1,878)	( 6,109)	( 102)	( 74,980)
Balance on December 31, 2025	$ 448,423	$ 1,020,575	$ 4,053	$ 21,833	$ 68,907	$ 99,607	$ 22,320	$ 1,685,718
Accumulated depreciation and impairment
Balance on January 1, 2025	$ 317,770	$ 760,226	$ 4,576	$ 9,564	$ 54,328	$ 88,405	$ -	$ 1,234,869
Depreciation expense	24,646	107,053	5	2,429	4,697	11,627	-	150,457
Disposal	( 26,074)	( 119,896)	( 265)	-	( 61)	( 12,553)	-	( 158,849)
Net exchange difference	( 9,124)	( 33,927)	( 263)	( 307)	( 1,772)	( 4,738)	-	( 50,131)
Balance on December 31, 2025	$ 307,218	$ 713,456	$ 4,053	$ 11,686	$ 57,192	$ 82,741	$ -	$ 1,176,346
Net amount on December 31, 2025	$ 141,205	$ 307,119	$ -	$ 10,147	$ 11,715	$ 16,866	$ 22,320	$ 509,372
Cost
Balance on January 1, 2024	$ 462,834	$ 1,159,407	$ 4,487	$ 21,630	$ 54,391	$ 108,325	$ 293	$ 1,811,367
Addition	-	-	-	-	-	5,864	73,483	79,347
Disposal	( 9,525)	( 132,335)	( 58)	-	( 26)	( 6,546)	-	( 148,490)
Internal transfer	5,425	59,448	-	-	3,088	4,119	( 72,080)	-
Net exchange difference	27,164	77,931	152	707	3,150	4,553	( 9)	113,648
Balance on December 31, 2024	$ 485,898	$ 1,164,451	$ 4,581	$ 22,337	$ 60,603	$ 116,315	$ 1,687	$ 1,855,872
Accumulated depreciation and impairment
Balance on January 1, 2024	$ 282,646	$ 719,918	$ 4,441	$ 6,696	$ 48,227	$ 76,394	$ -	$ 1,138,322
Depreciation expense	28,094	118,642	43	2,500	3,367	15,131	-	167,777
Disposal	( 9,525)	( 126,746)	( 58)	-	( 23)	( 6,544)	-	( 142,896)
Net exchange difference	16,555	48,412	150	368	2,757	3,424	-	71,666
Balance on December 31, 2024	$ 317,770	$ 760,226	$ 4,576	$ 9,564	$ 54,328	$ 88,405	$ -	$ 1,234,869
Net amount on December 31, 2024	$ 168,128	$ 404,225	$ 5	$ 12,773	$ 6,275	$ 27,910	$ 1,687	$ 621,003

The depreciation expense was calculated on a straight-line basis over the following useful lives:

Premises and improvements
Main buildings
Auxiliary buildings
Machinery and equipment
Transportation equipment
Leasehold improvements
Molding equipment
Miscellaneous equipment

25 to 35 years
3 to 20 years
1 to 20 years
3 to 10 years
4 to 20 years
2 to 5 years
2 to 10 years

For the amount of the Group's property, plant and equipment set as collateral for loans, see Note 33.

XVII. Lease agreement

(I) Right-of-use assets

	December 31, 2025	December 31, 2024
Carrying amount of right-of-use assets
Land	$ 149,743	$ 164,219
Buildings	42,977	67,775
Transportation equipment	4,791	7,951
Miscellaneous equipment	1,210	3,545
	$ 198,721	$ 243,490
	December 31, 2025	December 31, 2024
Addition to right-of-use assets	$ 20,381	$ 22,499
	2025	2024
Depreciation expense of right-of-use assets
Land	$ 8,466	$ 8,710
Buildings	39,026	44,111
Transportation equipment	2,717	2,869
Miscellaneous equipment	2,129	3,705
	$ 52,338	$ 59,395

Except for the addition and recognized depreciation expense listed above, the Group's right-of-use assets did not experience significant sublease and impairment from January 1 to December 31, 2025 and 2024.

(II) Lease liabilities

	December 31, 2025	December 31, 2024
Carrying amount of lease liabilities
Current	$ 36,035	$ 45,013
Non-current	$ 17,796	$ 41,098

The discount rate ranges for the lease liabilities are as follows:

	December 31, 2025	December 31, 2024
Buildings	1.41%~6.53%	1.41%~7.46%
Transportation equipment	1.21%~6.15%	1.21%~6.15%
Miscellaneous equipment	2.17%~5.67%	2.17%~5.67%

(III) Material lease activities and terms

The Group rents buildings as plants, offices, and employee housing with a lease term of 1–8 years. Once the lease term expires, the Group shall no longer have the

right of first refusal to the rented pieces of land and buildings. It is agreed that the Group shall not sublet the lease in whole or in part without the consent of the lessor.

(IV) Other lease information

	2025	2024
Total cash (outflow) from lease	($ 48,175)	($ 55,110)

Part of the right-of-use assets – land has been provided as collateral for bank loans. See Note 33.

XVIII. Intangible assets

	Patent rights	Cost of computer software	Total
Cost
Balance on January 1, 2025	$ 1,029	$ 67,727	$ 68,756
Separate acquisition	-	3,763	3,763
Disposal	( 248 )	( 2,145 )	( 2,393 )
Net exchange difference	-	( 3,451 )	( 3,451 )
Balance on December 31, 2025	$ 781	$ 65,894	$ 66,675
Accumulated amortization
Balance on January 1, 2025	$ 909	$ 42,013	$ 42,922
Amortization expense	47	7,774	7,821
Disposal	( 243 )	( 1,963 )	( 2,206 )
Net exchange difference	-	( 1,907 )	( 1,907 )
Balance on December 31, 2025	$ 713	$ 45,917	$ 46,630
Net amount on December 31, 2025	$ 68	$ 19,977	$ 20,045
Cost
Balance on January 1, 2024	$ 1,114	$ 70,259	$ 71,373
Separate acquisition	-	14,602	14,602
Disposal	( 85 )	( 18,079 )	( 18,164 )
Net exchange difference	-	945	945
Balance on December 31, 2024	$ 1,029	$ 67,727	$ 68,756
Accumulated amortization
Balance on January 1, 2024	$ 884	$ 41,259	$ 42,143
Amortization expense	97	8,532	8,629
Disposal	( 72 )	( 8,473 )	( 8,545 )
Net exchange difference	-	695	695
Balance on December 31, 2024	$ 909	$ 42,013	$ 42,922

Net amount on December 31, 2024

$ 120

$ 25,714

$ 25,834

The amortization expense was calculated on a straight-line basis over the following useful lives:

Patent rights
7 to 13 years
Cost of computer software
1 to 10 years

XIX. Other assets

	December 31, 2025	December 31, 2024
Current
Payment to be settled	$ 22	$ 37,609
Temporary payment	4,947	6,028
Others	66	316
	$ 5,035	$ 43,953
Non-current
Long-term prepaid expenses	$ 3,567	$ 2,141
Operating deposits	161,952	12,888
Others	3,932	12,981
	$ 169,451	$ 28,010

XX. Loans

(I) Short-term loans

	December 31, 2025	December 31, 2024
Secured loans
Bank loans	$ 712,986	$ 666,388
Unsecured loans
Bank loans	3,388,777	1,693,961
	$ 4,101,763	$ 2,360,349

The interest rate for bank loans on December 31, 2025 and 2024, was 2.08%–7.84% and 2.08%–6.67%, respectively.

The Group has provided its bank deposits, corporate bonds, land use rights, and property, plant and equipment as collateral for short-term loans. See Note 33.

(II) Short-term notes payable

	December 31, 2025	December 31, 2024
Commercial paper payable	$ 50,000	$ 140,000
Less: Discount of short-term notes payable	( 98 )	( 82 )
	$ 49,902	$ 139,918

The market interest rate range for commercial paper payable on the balance sheet date is as follows:

Commercial paper payable	December 31, 2025	December 31, 2024
	2.17%	2.17%~2.24%

(III) Long-term loans

	Contract expiration date	Material terms	December 31, 2025	December 31, 2024
Secured loans
Taiwan Cooperative Bank	June 17, 2027	Interest paid monthly; principal repaid on maturity date for each draw. The line of credit may be drawn on a revolving basis within the validity period of the contract.	$ 400,000	$ -
Taiwan Cooperative Bank	May 24, 2026	Interest paid monthly; principal repaid on maturity date for each draw. The line of credit may be drawn on a revolving basis within the validity period of the contract.	-	400,000
Unsecured loans
The Shanghai Commercial & Savings Bank, Ltd.	February 23, 2027	Interest paid monthly; principal repaid in 24 installments, with one month for each installment, and the first installment is 12 months after the loan disbursement date	70,833	100,000
KGI Commercial Bank	May 13, 2026	Interest paid monthly; principal repaid on maturity date for each draw. The line of credit may be drawn on a revolving basis within the validity period of the contract.	-	200,000
Export-Import Bank of the Republic of China	February 10, 2025	Interest paid quarterly; principal repaid in 7 installments, with 6 months for each installment, from the date 24 months after the loan disbursement date.	-	8,507
Export-Import Bank of the Republic of China	March 30, 2025	Interest paid quarterly; principal repaid in 7 installments, with 6 months for each installment, from the date 24 months after the loan disbursement date.	-	11,993
Export-Import Bank of the Republic of China	November 30, 2026	Interest paid quarterly; principal repaid in 7 installments, with 6 months for each installment, from the date 24 months after the loan disbursement date.	42,857	85,714
Mega International Commercial Bank	April 28, 2030	Interest paid quarterly; principal repaid in 7 installments, with 6 months for each installment, from the date	200,000	-

24 months after the loan disbursement date.

Less: Those due in one year

713,690	806,214
( 92,857 )	( 92,524 )
$ 620,833	$ 713,690

As of December 31, 2025 and 2024, the effective annual interest rate was 2.23%–2.67% and 2.18%–2.23%, respectively.

To make sure there was sufficient medium-term working capital, the Group entered into a credit agreement with The Shanghai Commercial & Savings Bank, Ltd., Export-Import Bank of the Republic of China, Taiwan Cooperative Bank, and Mega International Commercial Bank Co., Ltd., with available line of credit of NTD 70,833 thousand, NTD 42,857 thousand, NTD 400,000 thousand, and NTD 200,000 thousand, receptively. The total line of credit has been drawn on in stages within the contract validity periods. In drawing on the line of credit with Taiwan Cooperative Bank, receivables equivalent to 30% of the drawn amount must be provided as collateral. If the amount of valid accounts receivable is lower than 30% of the drawn amount of the loan, according to the credit agreement, the difference shall be made up by remitting or depositing the shortage in the dedicated account or the remaining loan amount shall be repaid early.

The Group has provided sufficient accounts receivable as collateral for the long-term loans as agreed in the agreement. See Note 33.

XXI. Other payables

	December 31, 2025	December 31, 2024
Salaries and bonuses payable	$ 71,306	$ 72,095
Dividends payable	4,695	2,679
Remuneration payable to employees and directors	7,765	5,024
Equipment payments payable	5,298	426
Expenses payable	59,210	33,183
Others	28,164	21,411
	$ 176,438	$ 134,818

XXII. Accounts payable for settlement

	December 31, 2025	December 31, 2024
Accounts payable for settlement from brokered trading	$ 593,102	$ 511,147
Accounts payable for settlement from dealership	9,502	-
	$ 602,604	$ 511,147

XXIII. Refund liabilities

	2025	2024
Balance at beginning of year	$ 33,595	$ 23,454
Increase in the year	3,940	15,230
Write-down in the year	( 3,600 )	( 6,546 )
Net exchange difference	( 946 )	1,457
Balance at end of year	$ 32,989	$ 33,595

Refund liabilities from returns and discounts are product returns and discounts that are considered likely to occur based on historical experience, the management’s judgment, and other known reasons and recorded as minus items of operating revenues in the period when the relevant products are sold.

XXIV. Post-employment benefit plans

(I) Defined contribution plan

The pension system under the “Labor Pension Act,” as applied by the Company in the Group, is a defined contribution plan managed by the government. A pension contribution equal to 6% of an employee’s monthly salary is made and deposited into his/her personal account at the Bureau of Labor Insurance.

In response to changes in the laws and regulations of Vietnam, CX VN, Merrimack River (HD) and PHU HUNG SECURITIES have appropriated 1% of the lower of 20 times the base pay of the employees or the minimum wage in Vietnam as unemployment insurance benefits to the Vietnam Social Insurance Authority in accordance with Vietnam’s amended Law On Social Insurance since 2009. The appropriated unemployment insurance benefits are presented in employee insurance expense.

CX Shanghai makes a pension contribution of the base pay of the employees in China to the national authority for pension fund. Other than making annual pension contributions, CX Shanghai is not subject to responsibilities for payment of pensions.

(II) Defined benefit plan

The pension system adopted by the Company in the Group according to the “Labor Standards Act” is a defined retirement benefit plan managed by the government. The years of service rendered and the average wage of six months prior to the retirement approval date shall be the reference for calculation of the pension to be paid to the employee. The Company of the Group makes employee pension contribution of 5% of the total monthly salary of an employee and deposits the amount in the dedicated account at the Bank of Taiwan in the name of the Labor Pension Fund Supervisory

55 -

Committee. Before the end of each year, if the estimated balance in the account is inadequate to make a full payment of pensions to the employees who may meet the retirement conditions in the next year, the Company will make up the difference in one appropriation before the end of March the following year. The account is managed by the Bureau of Labor Funds and the Group does not have the right to influence the investment management strategies.

The amounts of the defined benefit plan included in the consolidated balance sheet are as follows:

	December 31, 2025	December 31, 2024
Present value of defined benefit obligations	$ 5,264	$ 4,816
Fair value of plan assets	( 6,264 )	( 5,771 )
Net defined benefit assets	($ 1,000 )	($ 955 )

The changes in net defined benefit (assets) liabilities are as follows:

	Present value of defined benefit obligations	Fair value of plan assets	Net defined benefit (assets) liabilities
Balance on January 1, 2025	$ 4,816	($ 5,771)	($ 955)
Interest expense (revenue)	72	( 87)	( 15)
Recognized in profit or loss	72	( 87)	( 15)
Remeasurement
Return on plan assets (excluding interest revenue calculated at discount rate)	$ -	($ 406)	($ 406)
Actuarial loss – changes in financial assumptions	104	-	104
Actuarial loss – experience adjustments	272	-	272
Recognized in other comprehensive income	376	( 406)	( 30)
Balance on December 31, 2025	$ 5,264	($ 6,264)	($ 1,000)
(Continued to next page)

(Continued from previous page)

	Present value of defined benefit obligations	Fair value of plan assets	Net defined benefit (assets) liabilities
Balance on January 1, 2024	$ 4,945	($ 5,241)	($ 296)
Interest expense (revenue)	62	( 66)	( 4)
Recognized in profit or loss	62	( 66)	( 4)
Remeasurement
Return on plan assets (excluding interest revenue calculated at discount rate)	-	( 464)	( 464)
Actuarial gain – changes in financial assumptions	( 107)	-	( 107)
Actuarial gain – experience adjustments	( 84)	-	( 84)
Recognized in other comprehensive income	( 191)	( 464)	( 655)
Balance on December 31, 2024	$ 4,816	($ 5,771)	($ 955)

Due to the pension system under the "Labor Standards Act," the Company is exposed to the following risks:

Investment risk: The Bureau of Labor Funds, Ministry of Labor has invested the labor pension fund in domestic (foreign) equity and debt securities, and bank deposits separately. The investment is conducted at the discretion of the Bureau or under the mandated management. However, the gain generated from the Company's plan assets shall be calculated with an interest rate not below the interest rate for a 2-year time deposit with local banks.
Interest rate risk: A decrease in the interest rates of government bonds will increase not only the present value of defined benefit obligations, but also the return on debt investments in plan assets. Both increases have a partial offsetting effect against the impact of net defined benefit liabilities.
Salary risk: The present value of defined benefit obligations is calculated based on the future salary of the plan participants. As a result, an increase in the salary of the plan participants will raise the present value of defined benefit obligations.

The present value of the defined benefit obligations of the Company is calculated actuarially by a qualified actuary. The material assumptions on the date of measurement are as follows:

	December 31, 2025	December 31, 2024
Discount rate	1.250%	1.500%
Average long-term salary	3.250%	3.250%
adjustment rate

In the event of reasonably possible changes in the material actuarial assumptions, the resulting increase (decrease) in the present value of defined benefit obligations is as follows, provided that all other assumptions remain the same:

	December 31, 2025	December 31, 2024
Discount rate
Increase by 0.25%	($ 104)	($ 103)
Decrease by 0.25%	$ 108	$ 107
Expected salary increase rate
Increase by 0.25%	$ 104	$ 103
Decrease by 0.25%	($ 101)	($ 100)

Since the actuarial assumptions may be correlated and changes in only a single assumption are unlikely to occur, the sensitivity analysis above may not reflect actual changes in the present value of defined benefit obligations.

	December 31, 2025	December 31, 2024
Average maturity period of defined benefit obligations	8 years	8.7 years

XXV. Equity

(I) Common share capital

	December 31, 2025	December 31, 2024
Number of authorized shares (thousand shares)	126,367	126,367
Authorized share capital	$1,263,666	$1,263,666
Number of issued shares with full payment received (thousand shares)	90,000	90,000
Issued share capital	$900,000	$900,000

Common shares are issued at a par value of NTD 10, with each share entitled to one voting right and the right to receive dividends.

(II) Capital reserves

The Company's capital reserve is mainly recognized as the premium of stock issuance and the changes in equity of subsidiaries under equity method. Any surplus in capital reserves from the issuance of shares above their par value (including the issuance of common shares above their par value) may be used to make up for losses or to distribute cash dividends or be contributed to the share capital if the Company has no losses, provided that such contribution to the share capital does not exceed a certain percentage of the paid-in share capital each year.

Effects of equity transactions recognized due to changes in subsidies' equity may only be used to offset losses.

(III) Retained earnings and dividend policy

According to the earnings distribution policy in the Company's Articles of Incorporation, if the Company has earnings at the year's final accounting, they shall be first used to pay the tax and make up for any cumulative losses in accordance with laws. The Company shall then make a 10% contribution of the balance to the legal reserve and use the residual for the provision/reversal of special reserves pursuant to the laws. The residual balance that can be used as distributable earnings in the current year shall be added to the undistributed earnings from prior years as accumulated distributable earnings, and the Board of Directors shall prepare an earnings distribution proposal and submit it to the shareholders' meeting for approval of distribution of shareholder dividends and bonuses. For the employee and director remuneration distribution policy in the Company's Articles of Incorporation, please refer to Note 27(5), "Remuneration to employees, directors and supervisors".

According to the Articles of Incorporation of the Company, the dividend policy is adopted by the Company in consideration of the current and future development plans, investment environment, financing needs and domestic competition as well as the shareholders' interests and other factors. The dividend policy is implemented in the following ways: 1. The amount of total dividends distributed shall not be less than 30% of the distributable earnings in the current year; however, if the accumulated distributable earnings are less than 3% of the paid-in share capital, the dividends may not be paid. 2. Shareholders' dividends and bonuses may be distributed in the form of cash or stock and the cash dividend shall be more than 30% of the total dividends.

Transfers to legal reserves shall be made until the balance of the legal reserves reaches the Company's total paid-in share capital. The legal reserves may be used to

59 -

offset losses. When the Company has no losses and if the legal reserves exceed the total paid-in share capital by 25%, the excess amount may be contributed to the share capital or distributed in cash.

The Company’s 2024 and 2023 earning distribution proposals approved at the annual general meeting held on June 16, 2025, and June 18, 2024, are as follows:

	2024	2023
Legal reserves	$ 10,328	$ -
Provision for (reversal of) special reserves	($ 36,267)	$ 25,179
Cash dividends	$ 108,000	$ -
Cash dividends per share (NTD)	$ 1.2	$ -
After-tax net loss in the current year		($ 19,657)
Remeasurement of defined benefits plans in the current year		71
Loss to be offset in the current year		($ 19,586)

On March 12, 2026, the Board of Directors proposed distribution of earnings in 2025 as follows:

	2025
Legal reserves set aside	$ 16,159
Special reserves set aside	$ 39,337
Cash dividends	$ 43,200
Stock dividends	$ 100,000
Cash dividends per share (NTD)	$ 0.48
Stock dividends per share (NTD)	$ 1.11

The proposal for distribution of earnings in 2025 will be subject to a resolution of the annual shareholders’ meeting expected to be held on June 11, 2026.

(IV) Special reserves

Special reserves are set aside for exchange differences on translation of financial statements of foreign operations (including subsidiaries). In distributing earnings, special reserves shall be set aside for the difference between the net amount of items stated as deductions from other shareholders’ equity and the amount of the special reserves set aside on the end date of the reporting period. When there is reversal of deductions from other stockholders’ equity thereafter, part of the earnings distributed may be reserved.

XXVI. Revenue

	2025	2024
Revenue from contracts with customers
Revenue from sales of goods	$ 1,691,170	$ 1,718,017
Revenue from financial securities	674,376	569,802
	$ 2,365,546	$ 2,287,819

(I) See Notes 11 and 38 for description of contracts with customers.
(II) Contract balance

	December 31, 2025	December 31, 2024	January 1, 2024
Accounts receivable (Note 11)	$ 373,866	$ 362,436	$ 390,043

XXVII. Net profit in the current year

(I) Other net revenues, gains, expenses and losses

	2025	2024
Loss from disposal of property, plant and equipment	($ 3,538)	($ 3,915)
Loss from disposal of intangible assets	( 187)	( 176)
Interest revenue	64,408	50,095
Foreign currency exchange gain	99,738	108,106
Foreign currency exchange loss	( 217,511)	( 180,863)
Net gain from financial assets measured at fair value through profit or loss	95,029	18,121
	$ 37,939	($ 8,632)

(II) Financial cost

	2025	2024
Interest on bank loans	$ 31,491	$ 33,351
Interest on lease liabilities	1,103	1,591
Total interest expense on financial liabilities measured at amortized cost	1,456	2,108
	$ 34,050	$ 37,050

61 -

(III) Depreciation and amortization

	2025	2024
Summary of depreciation expenses by function
Operating costs	$ 169,572	$ 194,230
Operating expenses	33,223	32,942
	$ 202,795	$ 227,172
Summary of amortization expenses by function
Operating costs	$ 6,359	$ 7,724
Operating expenses	3,766	5,371
	$ 10,125	$ 13,095

(IV) Employee benefit expense

	2025	2024
Post-employment benefits
Defined contribution plan	$ 3,665	$ 4,138
Defined benefit plan	(15)	(4)
	3,650	4,134
Other employee benefits	541,453	487,394
Total employee benefit expenses	$ 545,103	$ 491,528
Summarized by function
Operating costs	$ 381,725	$ 337,229
Operating expenses	163,378	154,299
	$ 545,103	$ 491,528

(V) Remuneration to employees and directors

According to the Company's Articles of Incorporation, no less than 1% and no more than 2.5% of the current year's pre-tax profit before deduction of remuneration distributed to employees, directors shall be appropriated as employee remuneration and director remuneration, respectively. Following the amendments to the Securities and Exchange Act in August 2024, the Company resolved to amend its Articles of Incorporation at the 2025 shareholders' meeting for resolution, expressly stating that at least 20% of the aforementioned remuneration of employees should be allocated to entry-level employees. The remuneration of the directors and the estimated employee remuneration (including entry-level employees remuneration) for 2025 and 2024 were approved by the Board of Directors in a board resolution on March 12, 2026 and March 10, 2025, respectively.

Estimated percentage

	2025	2024
Remuneration to employees	1.27%	1.27%
Remuneration of directors	2.50%	2.50%
Amount
	2025	2024
	Cash	Cash
Remuneration to employees	$ 2,615	$ 1,692
Remuneration of directors	$ 5,150	$ 3,332

Any change in the amount after the date of approval and publication of the annual consolidated financial statements is treated as a change in accounting estimates and will be adjusted to be accounted for in the next year.

The actually distributed amounts of remuneration to employees and the remuneration of the directors for 2024 have not differed from the amounts recognized in the annual consolidated financial statements.

The Company reported a loss for 2023 and, as a result, did not estimate remuneration for employees or the remuneration of the directors.

For information on the employee remuneration and director remuneration approved by the Board of Directors, visit the "Market Observation Post System" of the Taiwan Stock Exchange.

XXVIII. Income tax

(I) Income tax recognized in profit or loss

Income tax expenses mainly consist of the following items:

	2025	2024
Current income tax
Incurred in the current year	$ 87,361	$ 43,714
Adjustments from prior years	(23,110)	(3,996)
	64,251	39,718
Deferred income tax
Incurred in the current year	13,176	7,531
Adjustments from prior years	23,309	6,256
	36,485	13,787
Income tax expense recognized in profit or loss	$ 100,736	$ 53,505

Adjustments to accounting income and income tax expenses are as follows:

	2025	2024
Pre-tax profit	$ 317,530	$ 154,248
Income tax expense on pre-tax profit calculated at the statutory tax rate	$ 91,869	$ 53,556
Permanent differences	-	116
Adjustments for prior years’ tax	( 199)	( 3,996)
Others	9,066	3,829
Income tax expense recognized in profit or loss	$ 100,736	$ 53,505

The tax rate applicable to the Company and Merrimack River Precision is 20%.

The tax rate applicable to CX Shanghai is 25%. The applicable tax rate for CX VN, PUH HUNG SECURITIES, and Merrimack River (HD) is 20%.

(II) Income tax recognized in other comprehensive income

	2025	2024
Deferred income tax
Tax incurred in the year
- Translation of financial statements of foreign operations	$ 29,612	($ 24,941)
- Share of other comprehensive income of associates accounted for using the equity method	-	( 1,946)
- Remeasurement of defined benefits plans	( 1,447)	( 131)
- Unrealized gains (losses) from financial assets measured at fair value through other comprehensive income	( 9)	( 1,949)
	$ 28,156	($ 28,967)

(III) Current income tax liabilities

	December 31, 2025	December 31, 2024
Current income tax assets
Income tax refund receivable	$ 5,454	$ 2,634
Current income tax liabilities
Income tax payable	$ 41,389	$ 33,345

(IV) Deferred income tax assets and liabilities

Changes in deferred income tax assets and liabilities are as follows:

2025

Deferred income tax assets	Balance at beginning of year	Reclassification	Recognized in profit or loss	Recognized in other comprehensive income	Adjustment of income tax of the previous year	Exchange differences	Balance at end of year
Exchange differences from foreign operations	$ 1,563	$ -	$ -	$ 29,165	$ -	$ -	$ 30,728
Investments accounted for using the equity method	39,364	-	6,789	-	( 22,346 )	-	23,807
Unrealized deferred gain	4,966	-	( 570 )	-	-	-	4,396
Defined benefit pension plan	2,916	-	-	( 1,441 )	( 1,475 )	-	-
Liability provision	6,719	-	( 121 )	-	-	-	6,598
Decommissioning liabilities	596	-	( 222 )	-	-	( 25 )	349
Lease liabilities	14,976	-	( 4,396 )	-	-	( 823 )	9,757
Allowance for inventory valuation losses	12,174	-	618	-	-	( 459 )	12,333
Others	22,505	-	3,067	-	-	( 1,360 )	24,212
	$ 105,779	$ -	$ 5,165	$ 27,724	($ 23,821)	($ 2,667 )	$ 112,180
Deferred income tax liabilities
Exchange differences from foreign operations	$ 2,042	$ -	$ -	($ 447 )	$ -	$ -	$ 1,595
Investments accounted for using the equity method	22,537	-	21,403	-	( 706 )	-	43,234
Right-of-use assets	14,100	-	( 4,326 )	-	-	( 773 )	9,001
Financial assets measured at fair value through profit or loss	2,282	-	2,664	-	-	1	4,947
Financial assets measured at fair value through other comprehensive income	1,949	-	-	9	-	-	1,958
Defined benefit pension plan	-	-	3	6	194	-	203
Others	2,666	-	( 1,403 )	-	-	( 5 )	1,258
	$ 45,576	$ -	$ 18,341	($ 432 )	($ 512 )	($ 777 )	$ 62,196

2024

Deferred income tax assets	Balance at beginning of year	Reclassification	Recognized in profit or loss	Recognized in other comprehensive income	Adjustment of income tax of the previous year	Exchange differences	Balance at end of year
Exchange differences from foreign operations	$ 28,059	$ 240	$ -	($ 26,736)	$ -	$ -	$ 1,563
Investments accounted for using the equity method	31,225	( 240 )	4,746	-	3,633	-	39,364
Unrealized deferred gain	4,605	-	361	-	-	-	4,966
Defined benefit pension plan	3,047	-	-	( 131 )	-	-	2,916
Liability provision	4,691	-	2,028	-	-	-	6,719
Decommissioning liabilities	540	-	19	-	-	37	596
Lease liabilities	21,950	-	( 7,697 )	-	-	723	14,976
Allowance for inventory valuation losses	11,395	-	26	-	-	753	12,174
Others	13,355	-	6,713	-	1,936	501	22,505
	$ 118,867	$ -	$ 6,196	($ 26,867)	$ 5,569	$ 2,014	$ 105,779
Deferred income tax liabilities
Exchange differences from foreign operations	$ 1,889	$ -	$ -	$ 151	$ -	$ 2	$ 2,042
Investments accounted for using the equity method	18,335	-	4,202	-	-	-	22,537
Right-of-use assets	21,026	-	( 7,634 )	-	-	708	14,100
Financial assets measured at fair value through profit or loss	-	-	2,347	-	-	( 65 )	2,282
Financial assets measured at fair value through other comprehensive income	-	-	-	1,949	-	-	1,949
Others	3,758	-	( 250 )	-	( 687 )	( 155 )	2,666
	$ 45,008	$ -	($ 1,335 )	$ 2,100	($ 687 )	$ 490	$ 45,576

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(V) The consolidated company's tax not recognized as loss carryforwards for deferred income tax assets as of December 31, 2025 and 2024 was NTD 255,255 thousand and NTD 222,377 thousand, respectively.

(VI) Information on unused loss carryforwards

Information on the loss carryforwards as of December 31, 2025 is as follows:

Uncredited balance	Last year of credit
$ 30,177	2025
31,809	2026
40,206	2027
47,966	2028
19,446	2029
7,387	2030
$ 176,991

(VII) Approval of income tax returns

The profit-seeking enterprise income tax returns of the Company and Merrimack River Precision, a subsidiary thereof, for 2023 were approved by the tax authority.

XXIX. Earnings per share

	Unit: NTD per share
	2025	2024
Basic earnings per share	$ 1.81	$ 1.14
Diluted earnings per share	$ 1.81	$ 1.14

The net profit and weighted average number of common shares used to calculate the earnings per share are shown below:

Net profit in the current year

	2025	2024
Net profit attributable to the owners of the Company	$ 163,010	$ 102,757

Number of shares

	Unit: Thousand shares
	2025	2024
Weighted average number of common shares used for calculation of basic EPS	90,000	90,000
Effect of dilutive potential common shares:
Remuneration to employees	114	55
Weighted average number of common shares used for calculation of diluted EPS	90,114	90,055

If the Group choose to distribute the remuneration to employees in shares or cash, the diluted EPS is calculated by adding the number of dilutive potential common shares to the weighted average number of outstanding shares under the assumption that the employee remuneration will be distributed in shares. The dilutive effect of the potential common shares is taken into account when calculating the diluted EPS before a resolution is adopted on the number of shares distributable as remuneration for employees.

XXX. Capital risk management

The Group has conducted capital management mainly for the purpose of ensuring that all entities in the Group can operate on a going concern basis while maximizing shareholders' return by optimizing the balance of debts and equity.

XXXI. Financial instruments

(I) Fair value information – financial instruments not measured at fair value

The management of the Group believes that the carrying amounts of financial assets and financial liabilities not measured at fair value are close to their fair values or their fair values cannot be measured reliably.

(II) Fair value information – financial instruments measured at fair value on a recurring basis

68 -
Fair value hierarchy

December 31, 2025

	Level 1	Level 2	Level 3	Total
Financial assets measured at fair value through profit or loss
Financial assets mandatorily measured at fair value through profit or loss	$ 233,042	$ -	$ 69,399	$ 302,441
Financial assets measured at fair value through other comprehensive income
Equity instrument investment
- Overseas non-listed (non-OTC) stocks	$ -	$ -	$ 149,132	$ 149,132
Financial liabilities measured at fair value through profit or loss
Financial liabilities held for trading	$ 11,352	$ 304	$ -	$ 11,656
December 31, 2024
	Level 1	Level 2	Level 3	Total
Financial assets measured at fair value through profit or loss
Financial assets mandatorily measured at fair value through profit or loss	$ 94,436	$ 7,889	$ 72,217	$ 174,542
Financial assets measured at fair value through other comprehensive income
Equity instrument investment
- Overseas non-listed (non-OTC) stocks	$ -	$ -	$ 155,740	$ 155,740

There was no transfer of fair value measurement between Level 1 and Level 2 in 2025 and 2024.

Adjustments to the financial instruments measured at Level 3 fair value

The Group’s financial assets measured at Level 3 fair value are investment in equity instruments measured at fair value through profit or loss and investment in equity instruments measured at fair value through other comprehensive income, and the relevant adjustments are shown below:

2025

Financial assets	Financial assets measured at fair value through other comprehensive income	Measurement at fair value through profit or loss
	Equity instruments	Equity instruments
Balance at beginning of year	$ 155,740	$ 72,217
Recognized in profit or loss	-	166
Recognized in other comprehensive income	40	-
Effect of exchange rate	( 6,648)	( 2,984)
Balance at end of year	$ 149,132	$ 69,399

2024

Financial assets	Financial assets measured at fair value through other comprehensive income	Measurement at fair value through profit or loss
	Equity instruments	Equity instruments
Balance at beginning of year	$ -	$ 68,671
Recognized in profit or loss	-	( 1,098)
Increase in the year	142,614	-
Recognized in other comprehensive income	9,747	-
Effect of exchange rate	3,379	4,644
Balance at end of year	$ 155,740	$ 72,217

Valuation techniques and inputs for Level 2 fair value measurement

Financial instrument type	Valuation techniques and inputs
Derivative instruments - exchange rate swap contract	Discounted cash flow method: The future cash flows are estimated based on the observable forward exchange rate and the contract exchange rate at the end of the period, and are discounted separately at a discount rate reflecting the credit risk of each transaction counterparty.

Valuation techniques and inputs for Level 3 fair value measurement

Foreign unlisted equity investment is measured at fair value using the market approach or the income approach. The market approach refers to the

market price of the investee in business and industry similar to those of comparable companies, and the fair value of the stock is calculated by taking into account the liquidity discount parameter. The equity method refers to the cash flow discount method, and the current value of the expected gain from such investment is calculated. The following are significant unobservable inputs. When the long-term revenue growth rate increases; the long-term pre-tax operating margin increases; the weighted average cost of capital is reduced; or the liquidity discount decreases, the fair value of such investments will increase.

	December 31, 2025	December 31, 2024
Long-term revenue growth rate	42.33%	35.49%
Long-term pre-tax operating margin	227.09%	106.63%
Weighted average cost of capital	12.46%	12.28%
Liquidity discount	19.49%	25.90%

(III) Types of financial instruments

	December 31, 2025	December 31, 2024
Financial assets
Measurement at fair value through profit or loss
Mandatory measurement at fair value through profit or loss	$ 302,441	$ 174,542
Financial assets measured at amortized cost (Note 1)	8,070,161	6,452,402
Financial assets measured at fair value through other comprehensive income
Equity instrument investment	149,132	155,740
Financial liabilities
Measurement at fair value through profit or loss
Held for trading	11,656	-
Measurement at amortized cost (Note 2)	6,510,979	4,853,103

Note 1: The balance includes financial assets measured at amortized cost, such as cash and cash equivalents, debt instrument investment, margin loans receivable, accounts receivable (including pledged assets), accounts receivable for

settlement, other receivables (excluding tax refund receivable), customer securities accounts, operating deposits, and guarantee deposits paid.

Note 2: The balance includes the financial liabilities measured at amortized cost, such as short-term loans, short-term notes payable, accounts payable, other payables (excluding salaries and bonuses payable, pensions payable, and remuneration payable to employees and directors), securities traders' equity, futures traders' equity, long-term loans (including long-term liabilities due in one year), long-term payables, and deposits received.

(IV) Purposes and policies of financial risk management

The Group's primary financial instruments include equity, debt instrument, margin loans receivable, accounts receivable, other receivables, accounts receivable for settlement, customer securities accounts, operating deposits, deposits paid, accounts payable, short-term notes and bills payable, other payables, accounts payable for settlement, securities traders' equity, futures traders' equity, loans, lease liabilities, and deposits received. The Group's financial management department is responsible for providing services to business units, planning and coordinating operations for entry into domestic and international financial markets, and monitoring and managing financial risks in relation to the Group's operations through internal risk reports that analyze risk exposure based on the level and scope of the risks. Such risks include market risks, exchange rate risk, interest rate risk, credit risk and liquidity risk.

The important financial activities of the Group are audited and approved by the Board of Directors according to related regulations and the internal control system. These financial activities are executed under internal control.

Market risks

The risk of change in foreign exchange rates is the major financial risks borne by the Group as a result of its operating activities.

(1) Exchange rate risk

The Group operates multinationally and thus is exposed to the exchange rate risks from different currencies, the US dollar in particular. Relevant exchange rate risks come from the credit, debt and foreign currency investment in foreign operations that are paid and collected in foreign currency in the future.

In order to avoid the impact of exchange rate changes on the value of foreign currency assets (liabilities) and future cash flows, the Group has

71 -

adopted exchange rate swaps contract to hedge the risk exposure and to mitigate the impact of these risks. The use of exchange rate swaps contract is regulated by the Group’s internal control policies. The Group does not trade derivatives for speculative purposes.

For the carrying amounts of the monetary assets and liabilities of the consolidated company denominated in non-functional currencies on the balance sheet date (including the monetary items denominated in non-functional currencies and written off in the consolidated financial statements), see Note 36.

Sensitivity analysis

The Group is affected primarily by fluctuations in the exchange rates of USD.

The sensitivity analysis only includes outstanding foreign currency monetary items. An adjustment is made to the year-end translation of the items based on an exchange rate change of 3%. The positive number in the following table means the amount of increase in the pre-tax profit when the functional currency of the consolidated entity appreciates by 3% against USD. When the functional currency of the consolidated entity depreciates by 3% against USD, the effect on the pre-tax profit is a negative number of the same amount.

	Effect of USD
	2025	2024
Profit or loss	$ 86,740	$ 37,637

(2) Interest rate risk

Interest rate risk exposure occurs due to the borrowing of funds by the entities in the Group at both fixed and floating interest rates. The Group maintains an appropriate combination of fixed and floating interest rates to manage the interest rate risk.

72 -

The carrying amounts of the financial assets and financial liabilities of the Group exposed to the interest rate risk on the balance sheet date are as follows:

	December 31, 2025	December 31, 2024
With fair value interest rate risk
Financial assets	$ 5,948,630	$ 4,726,010
Financial liabilities	407,095	432,673
With cash flow interest rate risk
Financial assets	1,538,336	1,226,598
Financial liabilities	4,512,091	2,959,920

Sensitivity analysis

With respect to the sensitivity analysis of interest rate risk, the Group uses the financial assets and financial liabilities on the balance sheet date as the calculation basis. The Group uses a 1% increase/decrease in market interest rates as a reasonably possible change for reporting interest rate risk to management. With all other variables remaining unchanged, a 1% decrease in the market rate would reduce/increase the Group's pre-tax profit in 2025 and 2024 by NTD 29,738 thousand and NTD 17,333 thousand, respectively.

(3) Hedging with call (put) warrants

The Group establishes various risk limits, hedging instruments, and hedging mechanisms based on its own risk tolerance. Through reasonable hedging, the consolidated company can effectively control risks within the scope prescribed by laws and internal regulations. For the actual hedging practices, the responsible department adjusts the risk structure and level of the overall position within the acceptable risk level according to the VaR, market conditions, product characteristics, and risk management guidelines.

The main risk of the Group's issuance of call (put) warrants comes from the performance risk when the underlying asset is in the money. The Delta value is used as an indicator for preventing the performance risk of options going into the money. Delta dynamic hedging should be implemented to hold a sufficient number of underlying assets for hedging

73 -

in order to comply with external regulations and internal control regulations.

Credit risk

The Group’s credit risk is mainly concentrated in its top three group customers. As of December 31, 2025 and 2024, 52% of the total accounts receivable were from the aforesaid group customers. The Group customers of the Group consist of multiple corporate entities operating separately and independently and are distributed across various regions. The Group does not concentrate on a single corporate entity operating independently or a single region. It also continuously assesses the financial position of accounts receivable customers and takes out commercial credit insurance contracts. Hence, the Group faces limited credit risk. On the balance sheet date, the Group’s maximum amount exposed to credit risk was equal to the carrying amount of the financial assets stated.

Liquidity risk

The Group manages and maintains sufficient cash and cash equivalents to sustain the Group’s operations and mitigate the effects of cash flow fluctuations. The management of the Group monitors the use of the bank financing facility and ensures compliance with the terms of loan contracts.

(1) Liquidity risk tables

The tables below detail the remaining contractual maturity analysis of the Group’s non-derivative financial liabilities within the agreed repayment term. They are compiled based on the earliest repayment date given to the Group and the non-discounted cash flow of the financial liabilities (including the cash flow of the interest and principal).

74 -

December 31, 2025

	Repaid immediately or within less than 1 year	1 to 5 years	Over 5 years
Derivative financial liabilities
Non-interest-bearing liabilities	$ 11,656	$ -	$ -
Non-derivative financial liabilities
Non-interest-bearing liabilities	1,645,623	-	-
Lease liabilities	37,717	18,584	-
Decommissioning liabilities	148	-	4,633
Instruments with floating interest rate	3,969,713	634,904	-
Instruments with fixed interest rate	356,705	-	-
	$ 6,021,562	$ 653,488	$ 4,633

December 31, 2024

	Repaid immediately or within less than 1 year	1 to 5 years	Over 5 years
Non-interest-bearing liabilities	$ 1,546,622	$ -	$ -
Lease liabilities	47,791	42,087	-
Decommissioning liabilities	-	155	4,832
Instruments with floating interest rate	2,296,447	719,315	-
Instruments with fixed interest rate	347,325	-	-
	$ 4,238,185	$ 761,557	$ 4,832

(2) Financing facility

Bank loans are an important source of liquidity for the Group. The Group’s undrawn financing facility with banks on the balance sheet date is as follows:

	December 31, 2025	December 31, 2024
Bank loan facility
Undrawn amount	$4,017,328	$5,365,051

XXXII. Related party transactions

All the transactions between the Company and its subsidiaries (i.e. the related parties of the Company), account balances, revenues, gains, expenses and losses have been eliminated during consolidation and, thus, are not disclosed in this note. In addition to those disclosed in other notes, the transactions between the Group and other related parties are as follows:

Remuneration to key management

	2025	2024
Short-term employee benefits	$ 33,535	$ 33,319
Post-employment benefits	287	324
	$ 33,822	$ 33,643

The remuneration to directors and other key management is determined by the Remuneration Committee based on personal performance and market trends.

XXXIII. Pledged and mortgaged assets

The following assets were provided as collateral for bank loans:

	December 31, 2025	December 31, 2024
Pledged bank deposits (I)	$ 778,029	$ 792,155
Property, plant and equipment	13,873	16,916
Right-of-use assets	75,567	82,515
Pledged accounts receivable (II)	120,000	120,000
Corporate bonds (II)	178,436	-
	$ 1,165,905	$ 1,011,586

(I) Included in financial assets at amortized cost – current.
(II) Included in financial assets at amortized cost – non-current.

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XXXIV. Material contingent liabilities and unrecognized contractual commitments

(I) As of December 31, 2025 and 2024, the Company provided endorsement/guarantee for CX VN’s bank loans, amounting to NTD 377,160 thousand (USD 12,000 thousand) and NTD 393,420 thousand (USD 12,000 thousand), respectively.

(II) As of December 31, 2025 and 2024, the Company provided endorsement/guarantee for Merrimack River Precision’s bank loans, both amounting to NTD 80,000 thousand.

(III) As of December 31, 2025 and 2024, the Company provided endorsement/guarantee for Merrimack River (HD)’s bank loans, amounting to NTD 245,154 thousand (USD 7,800 thousand) and NTD 255,723 thousand (USD 7,800 thousand), respectively.

XXXV. Material subsequent events

Considering the strategic needs of capacity expansion, green sustainability, and the introduction of new technologies, the Group’s Board of Directors passed a board resolution on February 12, 2026, to increase the capital of CX Cayman by USD 40,000 thousand and acquire right-of-use assets for land in Vietnam through investee companies to build its second factory in Ho Chi Minh City, Vietnam. The estimated total transaction amount is USD 26,117 thousand, and the contract is pending signature.

XXXVI. Information of foreign currency assets and liabilities with significant effect

The following information is summarized and presented based on foreign currencies other than the functional currencies of the entities in the Group. The disclosed exchange rate represents the rate at which each such foreign currency is translated to the respective functional currencies. The following are foreign currency assets and liabilities with significant effect:

Unit: Exchange rate in dollars; foreign currencies in thousand dollars/NTD thousand December 31, 2025

Foreign currency assets	Foreign currency	Exchange rate	Carrying amount
Monetary items
USD	$ 15,392	31.43(USD:NTD)	$ 483,771
USD	271	6.99 (USD:RMB)	8,560
EUR	471	36.90 (EUR:NTD)	17,384
VND	167,071,423	0.000038 (VND:USD)	199,657
Financial assets measured at fair value through profit or loss
VND	58,106,790	0.000038 (VND:USD)	69,399

Investments in equity instruments measured at fair value through other comprehensive income
VND	124,865,851	0.000038 (VND:USD)	149,132
Foreign currency liabilities
Monetary items
USD	13,470	31.43 (USD:NTD)	423,370
USD	94,000	26,227 (USD:VND)	2,947,057
USD	419	6.99 (USD:RMB)	13,232
VND	82,116,037	0.000038 (VND:USD)	100,126

December 31, 2024

Foreign currency assets	Foreign currency	Exchange rate	Carrying amount
Monetary items
USD	$ 11,780	32.79 (USD:NTD)	$ 386,209
USD	354	7.31 (USD:RMB)	11,424
EUR	669	34.14 (EUR:NTD)	22,853
VND	54,316,560	0.000039 (VND:USD)	92,767
Financial assets measured at fair value through profit or loss
VND	56,480,922	0.000039 (VND:USD)	72,217
Investments in equity instruments measured at fair value through other comprehensive income
VND	121,803,783	0.000039 (VND:USD)	155,740
Foreign currency liabilities
Monetary items
USD	11,070	32.79 (USD:NTD)	362,915
USD	39,000	25,401 (USD:VND)	1,265,046
USD	751	7.31 (USD:RMB)	24,237
VND	46,296,751	0.000039 (VND:USD)	63,763

The foreign currency exchange net loss (realized and unrealized) of the Group in 2025 and 2024 were NTD 117,773 thousand (net losses) and NTD 72,575 thousand (net losses), respectively. As there are numerous foreign currencies used for foreign currency

transactions and by the Group's entities, it is not possible to disclose the exchange gain/loss of each foreign currency with material effect.

XXXVII. Note disclosures

(I) Material transactions:

Funds loaned to others. (See Table 1)
Endorsements/guarantees to others. (See Table 2)
Significant securities held at the end of the period (excluding investments in subsidiaries, associates, and joint ventures). (See Table 3)
Purchase/sale of goods from/to related parties equaling or exceeding NTD100 million or 20% of the paid-in capital. (See Table 4)
Payments receivable from related parties equaling or exceeding NTD100 million or 20% of the paid-up capital. (See Table 5)
Others: The business relationship and significant transactions between the parent company and its subsidiaries, and between subsidiaries. (See Table 6)

(II) Information of investee companies. (See Table 7)

(III) Information of investments in Mainland China:

Information about investee companies in Mainland China, such as the name, main business activities, paid-in capital, investment method, inward and outward remittance of funds, shareholding percentage, the ending carrying amount of the investment, investment gains or losses received, and limit on the amount of investment in Mainland China. (See Table 8)
The following material transactions with the investee companies in Mainland China directly or indirectly through a third area, and the prices, payment terms and unrealized profits/losses of such transactions: (See Table 9)

(1) The amount and percentage of purchases, and the ending balance and percentage of the relevant payments payable.
(2) The amount and percentage of sales, and the ending balance and percentage of the relevant receivables.
(3) The amount of property transactions and the resulting amount of profits/losses.
(4) The ending balance and purposes of note endorsements/guarantees or collateral provided.

79 -

(5) The maximum balance, ending balance, interest rate range, and total current interest for financing.
(6) Other transactions with significant effect on the profits/losses or financial conditions in the current period, such as the rendering or receiving of services.

XXXVIII. Segment information

The information provided by the Group for the main operational decision makers to allocate resources and evaluate the performance of segments focuses on the main types of products. In accordance with the regulations of IFRS 8 “Operating Segments,” the reportable segments and the types of products of the consolidated company for the periods from January 1 to December 31, 2025 and 2024 include: (1) Precision metal processing business – the Company, CX Technology (VN) Corporation, CX Technology (Shanghai) Corporation, and Timing International Trade (Shanghai) Co., Ltd, mainly engaged in the production and sale of magnetic components for speakers; (2) plastic injection business – Merrimack River Precision Industrial Corporation and Merrimack River Precision Industrial (HD) Co., Ltd, mainly engaged in the production and sale of plastic injection parts; and (3) financial securities business – Phu Hung Securities Corporation, mainly engaged in stock dealership and brokerage.

The revenue and business outcome from the Group’s continuing operations are analyzed based on reportable segments and product types as follows:

	Segment revenue		Segment profit or loss
	2025	2024	2025	2024
Precision metal processing business	$1,518,166	$1,528,322	$246,120	$262,058
Plastic injection business	173,004	189,695	(26,433)	(29,176)
Financial securities business	674,376	569,802	88,539	5,846
Total revenue from continuing operations	$2,365,546	$2,287,819	308,226	238,728
Other revenues, gains, expenses and losses			37,939	(8,632)
Interest revenue			4,696	2,502
Other revenues			1,786	8,919
Other gains and losses			(1,233)	(11,333)
Net gain (loss) from financial assets measured at fair value through profit or loss			166	(1,098)
Financial cost			(34,050)	(37,050)

Share of losses of
associates accounted for
using the equity method
Pre-tax net profit from
continuing operations

( 37,788 )
$ 317,530 $ 154,248

The revenue reported above was from transactions with external customers. The intersegment sales in 2025 and 2024 were NTD 18,138 thousand and NTD 19,317 thousand, respectively, and were written off in whole in preparing the consolidated financial statements.

Segment profits refer to the income earned by each segment, excluding other management expenses and losses, interest revenue, other revenues, other gains and losses, net gain (loss) on financial instruments measured at fair value through profit or loss, financial costs, and the share of losses of associates accounted for using the equity method which should be amortized. The measured amount is provided for the main operational decision maker to allocate resources to segments and evaluate their performance.

(I) Revenue from main products

The revenue from the main products of the Group's continuing operations is analyzed as follows:

	2025	2024
Metalworks	$ 1,518,166	$ 1,528,322
Plastic injection products	173,004	189,695
Securities trading services	674,376	569,802
	$ 2,365,546	$ 2,287,819

(II) Information by region

The following is the information of the Group's revenue from the continuing operations of external customers and non-current assets, listed by the region where the customers and non-current assets are located:

	Revenue from external customers		Non-current assets
	2025	2024	December 31, 2025	December 31, 2024
亞洲	$ 1,395,923	$ 1,318,832	$ 939,189	$ 963,100
美洲	725,902	721,487	-	-
歐洲	243,721	247,500	-	-
	$ 2,365,546	$ 2,287,819	$ 939,189	$ 963,100

Non-current assets exclude financial instruments, investments in associates and deferred income tax assets.

(III) Information of major customers

The single group customers from which the Group earned revenue accounting for 10% or more of the operating revenues in 2025 and 2024 are as follows:

	2025		2024
	Amount	Percentage %	Amount	Percentage %
Customer A	$ 662,356	28	$ 667,749	29
Customer B	258,416	11	266,581	12
	$ 920,772	39	$ 934,330	41

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CX Technology Corporation and Subsidiaries
Funds loaned to others
January 1 to December 31, 2025

Table 1
Unit: NTD thousand unless otherwise specified

No. (Note 1)	Lending company	Borrower	Account	Whether the borrower is a related party	Maximum balance in the current year	Balance at end of year (Note 4)	Actual drawdown amount	Interest rate range	Nature of loaning (Note 5)	Business transaction amount	Reasons for the need of short-term financing	Appropriated allowance for losses	Collateral		Limit on loans to individual borrowers (Note 2)	Limit on total loans (Note 2)
													Name	Value
1	CX Investment and Consulting Corporation	Nerrice Group Limited	Other receivables - related parties	Yes	$ 3,143 (USD 100,000)	$ -	$ -	0%	2	$ -	Working capital	$ -	--	--	$ 9,733	$ 19,466

Note 1: Number column description:
(1) "0" is reserved for the issuer.
(2) Each investee company is numbered in sequential order starting from 1.

Note 2: The total funds loaned by the Company to others and to a single enterprise shall not exceed 40% and 20% of such company's net worth in the most recent period, respectively.

Note 3: Nature of loaning: 1. Business relationships. 2. Needs for short-term financing.

Note 4: Translated based on the exchange rate on December 31, 2025.

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CX Technology Corporation and Subsidiaries

Endorsements/Guarantees for Others

January 1 to December 31, 2025

Table 2
Unit: NTD thousand unless otherwise specified

No. (Note 1)	Endorser/Guarantor	Endorsed/Guaranteed company		Limit on endorsements/guarantees for a single enterprise (Note 4)	Maximum endorsement/guarantee balance in the current year	Ending endorsement/guarantee balance (Note 3)	Actual drawdown amount (Note 3)	Endorsement and Guarantee Amount Secured by Property	Cumulative amount of endorsements/guarantees as a share of the net worth in the financial statements for the most recent period (%)	Maximum limit on endorsements/guarantees (Note 4)	Endorsements /guarantees made by the parent company for subsidiaries	Endorsements /guarantees made by subsidiaries for the parent company	Endorsements /guarantees made for the operations in Mainland China
		Company name	Relationship (Note 2)
0	CX Technology Corporation	Merrimack River Precision Identifal (HD) Co. Ltd	2	$ 846,588	$ 258,999 (USD 7,800,000)	$ 245,154 (USD 7,800,000)	$ 62,860 (USD 2,000,000)	$ -	14.48%	$ 846,588	Yes	No	No
0	CX Technology Corporation	Merrimack River Precision	2	846,588	80,000	80,000	-	-	4.72%	846,588	Yes	No	No
0	CX Technology Corporation	Industrial Corporation CX Technology (VN) Corporation	2	846,588	398,460 (USD 12,000,000)	377,160 (USD 12,000,000)	-	-	22.28%	846,588	Yes	No	No

Note 1: Number column description:
(1) "0" is reserved for the issuer.
(2) Each investee company is numbered in sequential order starting from 1.

Note 2: The relationship between the endorser/guarantee and the endorsed/guaranteed company is classified into seven categories as follows. It is only necessary to mark the type:
(1) Companies with business relationships.
(2) Companies where the Company directly and indirectly holds more than 50% of shares with voting rights.
(3) Companies directly and indirectly holding more than 50% of shares with voting rights in the Company.
(4) Companies where the Company directly and indirectly holds up to 90% or more of shares with voting rights.
(5) Companies in the same industry or joint builders that are required to provide mutual guarantee pursuant to contracts for undertaking construction projects.
(6) Companies receiving endorsements/guarantees from all shareholders proportionally to their shareholding due to a joint venture relationship.
(7) Joint and several security provided by companies in the same industry for each other as a performance guarantee in sales contracts for pre-construction homes pursuant to the Consumer Protection Act.

Note 3: Translated based on the exchange rate on December 31, 2025.

Note 4: The limit on endorsements/guarantees was set in accordance with Article 36-1 of the Securities and Exchange Act and according to the operating procedures for endorsements/guarantees approved by the shareholders' meeting. The limit on the Company's total external endorsements/guarantees and endorsements/guarantees to a single enterprise is 50% of the net worth of the Company.

CX Technology Corporation and Subsidiaries
Significant securities held at the end of the period.
December 31, 2025

Table 3
Unit: NTD thousand unless otherwise specified

Holding company	Type and name of securities	Relationship with the securities issuer	Account	At end of year				Remarks
				Number of shares	Carrying amount	Shareholding percentage	Fair value
Fortune CX Holding Corporation	SharesPHU HUNG ASSURANCE CORPORATION	—	Financial assets measured at fair value through profit or loss – current	4,001,901	USD 2,208,058	8.9	USD 2,208,058	Note 1
	PHU HUNG LIFE INSURANCE JOINT STOCK CORPORATION	—	Financial assets measured at fair value through other comprehensive income - non-current	21,582,515	USD 2,444,840	5.5	USD 2,444,840	Note 1 and Note 3
Phu Hung Lien Development Corporation	SharesPHU HUNG LIFE INSURANCE JOINT STOCK CORPORATION	—	Financial assets measured at fair value through other comprehensive income - non-current	20,304,445	USD 2,300,062	5.1	USD 2,300,062	Note 1 and Note 3

Note 1: There was no restricted use of securities due to collateral provision, pledging of loans, or other agreements.
Note 2: In accordance with Article 17 of the Regulations Governing the Preparation of Financial Reports by Securities Issuers, the Company’s investee company PHU HUNG SECURITIES CORPORATION is a securities firm, and its securities are exempted from disclosure in the above table.
Note 3: The Group’s equity investment in PHU HUNG LIFE lost significant influence at the end of October 2024. As a result, the equity method was discontinued and the investment was reclassified as a financial asset measured at fair value through other comprehensive income.

85 -

CX Technology Corporation and Subsidiaries
Purchase/Sale of Goods from/to Related Parties Equaling or Exceeding NTD100 million or 20% of the Paid-in Capital
January 1 to December 31, 2025

Table 4
Unit: NTD thousand

Purchasing (selling) company	Counterparty	Relationship	Transaction				Differences of transaction terms from those of regular transactions and reasons for such differences		Notes/Accounts receivable (payable)		Remarks
			Purchase (Sale)	Amount	Share of total purchase (sale)	Credit period	Unit price	Credit period	Balance	Share of total accounts and notes receivable (payable)
CX Technology Corporation	CX Technology (VN) Corporation	Sub-subsidiary	Purchase	$ 889,974	88%	Same as regular transactions	$ -	—	($ 417,914)	( 90%)	Note
CX Technology (VN) Corporation	CX Technology Corporation	Ultimate parent company	Sale	( 889,974 )	( 67%)	Same as regular transactions	-	—	417,914	82%	Note

Note: The transaction amounts were written off in whole in preparing the consolidated financial statements.

86 -

CX Technology Corporation and Subsidiaries
Receivables from Related Parties Equaling or Exceeding NTD100 million or 20% of the Paid-in Capital
December 31, 2025

Table 5
Unit: NTD thousand

Company stating receivables	Counterparty	Relationship	Balance of receivables from related parties	Overdue receivables from related parties		Subsequently recovered amount of receivables from related parties (Note 1)	Appropriated allowance for losses
				Amount	Treatment
CX Technology (VN) Corporation	CX Technology Corporation	Parent company	Accounts receivable - $ related parties	2.28	$ -	-	$ 79,740	Note 2
CX Technology (Cayman) Corporation	CX Technology (VN) Corporation	Subsidiary	Dividends receivable	225,039	-	-	Note 4	Note 2
CX VN Holding Corporation	CX Technology (VN) Corporation	Subsidiary	Dividends receivable	216,214	-	-	Note 4	Note 2
CX Technology (Cayman) Corporation	CX VN Holding Corporation	Subsidiary	Dividends receivable	276,126	-	-	Note 4	Note 2

Note 1: Subsequently means during January 1 and March 12, 2026.
Note 2: As assessed, there was no need to set aside an allowance for losses.
Note 3: The transaction amounts were written off in whole in preparing the consolidated financial statements.
Note 4: Due to the local laws and regulations that restrict the remittance of local earnings in Vietnam, as of the date of the financial statements, the amount has not been recovered.

87 -

CX Technology Corporation and Subsidiaries

Business Relationship and Important Transactions between the Parent Company and Its Subsidiaries, and between Subsidiaries

January 1 to December 31, 2025

Table 6
Unit: NTD thousand unless otherwise specified

No. (Note 1)	Name of transacting party	Counterparty	Relationship with transacting party (Note 2)	Transaction
				Account	Amount (Note 4)	Transaction terms	Share of total consolidated operating revenues or assets (Note 3)
0	CX Technology Corporation	CX Technology (VN) Corporation	1	Purchase	$ 889,974	No significant differences	38%
				Other receivables – related parties	66,509	Same as above	1%
				Accounts payable – related parties	417,914	Same as above	4%
				Other Accounts payable - related parties	864	Same as above	-
		Norrice Group Ltd.	1	Other receivables – related parties	3,211	Same as above	-
		CX Technology (Samoa) Corporation	1	Other receivables – related parties	41,137	Same as above	-
		Merrimack River Precision Industrial Corporation	1	Purchase	18,121	Same as above	1%
				Accounts payable – related parties	2,040	Same as above	-
				Other Accounts payable - related parties	196	Same as above	-
CX Development Limited	1	Other receivables – related parties	446	Same as above	-
1	CX Technology (VN) Corporation	CX Technology (Shanghai) Corporation	3	Sale	43,387	Same as above	2%
				Accounts receivable – related parties	13,160	Same as above	-
				Accounts payable – related parties	5,312	Same as above	-
		Timing International Trade (Shanghai) Co., Ltd	3	Accounts payable – related parties	1,091	Same as above	-
		Merrimack River Precision Industrial (HD) Corporation	3	Sale	2,709	Same as above	-
				Accounts receivable – related parties	1,141	Same as above	-
		CX Technology (Cayman) Corporation	3	Dividends payable	225,039	Same as above	2%
2	CX Technology (Shanghai) Corporation	TXVN Holding Corporation	3	Dividends payable	216,214	Same as above	2%
				Sale	51,748	Same as above	2%
3	Merrimack River Precision Industrial Corporation	Merrimack River Precision Industrial (HD) Corporation	3	Accounts receivable – related parties	22,316	Same as above	-
		Merrimack River Precision Industrial (Samoa) Corporation	3	Purchase	20,012	Same as above	1%
				Other receivables – related parties	1,914	Same as above	-
4	CX VN Holding Corporation	CX Technology (Cayman) Corporation	3	Dividends payable	276,126	Same as above	3%

Note 1: The business transactions between the parent company and its subsidiaries shall be indicated in the "No." column in the following manner:
(1) 0 is reserved for the parent company.
(2) Each subsidiary is numbered in sequential order starting from 1.

Note 2: The relationship with the counterparty falls into one of the following three categories; indicate the category only.

(1) Parent to subsidiary.
(2) Subsidiary to parent.
(3) Subsidiary to subsidiary.

Note 3: For asset or liability accounts, the transaction amount's percentage of the total consolidated operating revenues or assets shall be calculated as the year-end balance as a share of the total consolidated assets; for profit or loss accounts, the percentage shall be calculated as the accumulated amount at the end of the year as a share of the total consolidated operating revenues.

Note 4: The transaction amounts were written off in whole in preparing the consolidated financial statements.

CX Technology Corporation and Subsidiaries

Name, Place of Registration, and Other Information of Investee Companies

January 1 to December 31, 2025

Table 7
Unit: NTD thousand unless otherwise specified

Name of investor company	Name of investee company	Place of registration	Main business activities	Initial investment amount (Note 1)		Held at the end of period			(Loss) Profit of investee company in the year	Investment (loss) gain recognized in the year	Remarks
				End of the year	End of previous year	Number of shares	Percentage	Carrying amount (Note 1)
CX Technology Corporation	CX Technology (Cayman) Corporation	Grand Pavilion Commercial Centre, Oleander way,802 West Bay Road,P.O.Box 32052,Grand Cayman KY1-1208, Cayman Islands	General investment	$ 2,477,647	$ 2,477,647	78,895,000	100.0	$ 2,893,012	$ 107,0143,504,350	$ 107,014	Subsidiary and Note 4
	CX Investment and Consulting Corporation	Porcullis Chambers 4th Floor, Ellen Skelton Building,3076 Sir Francis Drake Highway, Road Town, Tortola, British Virgin Islands VG1110	General investment	107,020	103,979	3,200,000	100.0	48,666	(3,340)(107,172)	(3,340)	Subsidiary and Note 4
	Merrimack River Precision Industrial Corporation	20F., No. 179, Liaoning St., Zhongshan Dist., Taipei City	Production and sale of plastic injection parts	438,077	438,077	12,000,000	100.0	56,797	(30,605)	(30,605)	Subsidiary and Note 4
CX Technology (Cayman) Corporation	CX Technology (VN) Corporation	Lot CT, Lot T, Area C, Tan Thuan Export Processing Zone, Tan Thuan Dong Ward, Ho Chi Minh City, Vietnam	Production and sale of metal parts	241,3217,678,049	241,3217,678,049	20,666,859	51.0	515,60716,404,934	126,8314,099,363	-	Subsidiary and Note 4
	CX VN Holding Corporation	Grand Pavilion Commercial Centre, Oleander way,802 West Bay Road,P.O.Box 32052,Grand Cayman KY1-1208, Cayman Islands	General investment	231,9537,380,000	231,9537,380,000	7,380,000	100.0	435,49013,855,880	62,1472,008,691	-	Subsidiary and Note 4
	CX Development Limited	15/F.,BOC Group Life Assurance Tower,136 Des Viseux Road Central,Central, Hong Kong	General investment	282,8709,000,000	282,8709,000,000	9,000,000	100.0	105,3423,351,642	(19,832)(637,672)	-	Subsidiary and Note 4
	Pbu Hung Far East Holding Corporation	Porcullis Chambers 4th Floor, Ellen Skelton Building,3076 Sir Francis Drake Highway, Road Town, Tortola, British Virgin Islands VG1110	General investment	1,100,99335,030,000	1,100,99335,030,000	35,030,000	100.0	1,188,58037,816,730	46,8641,543,339	-	Subsidiary and Note 4
	Fortune CX Holding Corporation	Porcullis Chambers 4th Floor, Ellen Skelton Building,3076 Sir Francis Drake Highway, Road Town, Tortola, British Virgin Islands VG1110	General investment	346,83011,035,000	346,83011,035,000	11,035,000	100.0	147,2844,686,113	762,403	-	Subsidiary and Note 4
	CX Technology ( Samoa ) Corporation	Porcullis Chambers, P.O. Box 1225, Apia, Samoa	General investment	226,2967,200,000	226,2967,200,000	7,200,000	100.0	(52,203)(1,660,935)	(46,688)(1,495,211)	-	Subsidiary and Note 4
	Pbu Hung Lien Development Corporation	Porcullis Chambers 4th Floor, Ellen Skelton Building,3076 Sir Francis Drake Highway, Road Town, Tortola, British Virgin Islands VG1110	General investment	248,6117,910,000	248,6117,910,000	7,910,000	100.0	73,5187,339,097	(95)(3,064)	-	Subsidiary and Note 4

(Continued to next page)

(Continued from previous page)

Name of investor company	Name of investee company	Place of registration	Main business activities	Initial investment amount (Note 1)			Held at the end of period			(Loss) Profit of investee company in the year	Investment (loss) gain recognized in the year
				End of the year	End of previous year		Number of shares	Percentage	Carrying amount (Note 1)
CX VN Holding Corporation	CX Technology (VN) Corporation	Lot CT, Lot T, Area C, Tan Thuan Export Processing Zone, Tan Thuan Dong Ward, Ho Chi Minh City, Vietnam	Production and sale of metal parts	$ 231,858 [USD 7,376,963]	$ 231,858 [USD 7,376,963]	19,864,341	49.0	$ 495,388 [USD 15,761,634]	$ 126,831 [USD 4,099,363]	$ -	Subsidiary and Note 4
Phu Hung Far East Holding Corporation	PHU HUNG SECURITIES CORPORATION	21st Floor, Phu My Hung Tower, 08 Hoang Van Thai Street, Tan Phu Ward, Ho Chi Minh City, Vietnam	Stock dealership and brokerage	$ 1,391,562 [USD 44,274,948]	$ 1,391,562 [USD 44,274,948]	92,004,600	46.0	$ 1,169,953 [USD 37,224,087]	$ 102,597 [VND 88,305,578,493]	-	Subsidiary and Note 4
CX Investment and Consulting Corporation	Norrice Group Ltd.	Vistra Corporate Services Centre, Wichhams Cay II, Road Town, Tortola, VG1110 British Virgin Islands	General investment	$ 97,433 [USD 3,100,000]	$ 97,433 [USD 3,100,000]	3,100,000	67.4	$ 45,503 [USD 1,447,745]	$(USD 4,962) (159,222)	-	Subsidiary and Note 4
Merrimack River Precision Industrial Corporation	Merrimack River Precision Industrial (Samoa) Corporation	Portcullis Chambers, P.O. Box 1225, Apia, Samoa.	General investment	$ 386,025	$ 379,936	12,720,000	100.0	$ 25,202	$(USD 35,105) (1,120,063)	-	Subsidiary and Note 4
Merrimack River Precision Industrial (Samoa) Corporation	Merrimack River Precision Industrial Corporation	Porcullis Chambers 4th Floor, Ellen Skelton Building, 3076 Sir Francis Drake Highway, Road Town, Tortola, British Virgin Islands VG1110	General investment	$ 298,585 [USD 9,500,000]	$ 298,585 [USD 9,500,000]	9,500,000	100.0	$ 53,576 [USD 1,704,608]	$(USD 15,603) (497,640)	-	Subsidiary and Note 4
Merrimack River Precision Industrial Corporation	Merrimack River Precision Industrial (HD) Co. Ltd.	Factory B9, B10, B11, B12, B13, Lot3, West Subdivision, Phu Thai Industrial Park, Phu Thai commune, Hai Phong city, Vietnam	Production and sale of plastic injection parts	$ 298,585 [USD 9,500,000]	$ 298,585 [USD 9,500,000]	-	100.0	$ 52,756 [USD 1,678,512]	$(USD 15,609) (497,839)	-	Subsidiary and Note 4

Note 1: Translated based on the exchange rate on December 31, 2025.
Note 2: For information on the investee companies in Mainland China, see Table 8.
Note 3: The carrying value of the subsidiaries at the end of the year and the investment gains and losses recognized in the year were written off in whole in preparing the consolidated financial statements.
Note 4: Calculated based on the CPA-audited financial statements of the investee companies for the same period.
Note 5: Please refer to Note 14 for details of the subsidiaries included in the consolidated financial statements.

CX Technology Corporation and Subsidiaries

Information of investments in Mainland China

January 1 to December 31, 2025

Table 8
Unit: NTD thousand unless otherwise specified

Name of investee company in Mainland China	Main business activities	Paid-in capital (Note 6)	Method of investment	Accumulated amount of investments remitted from Taiwan at beginning of the year (Note 6)	Amount of investments remitted or recovered in the year		Accumulated amount of investments remitted from Taiwan at end of the year (Note 6)	(Loss) Profit of investee company in the year (Note 7)	The Company's shareholding in direct or indirect investments	Investment (loss) gain recognized in the year (Notes 7 and 8)	Ending carrying amount of the investment (Notes 6 and 8)	Investment gains received as of the year (Notes 9, 10 and 11)	Remarks
					Outward remittance	Recovery
CX Technology (Shanghai) Corporation (CX Shanghai)	Production and sale of magnetic components for speakers	$ 282,870 [USD 9,000,000]	2	$ 131,883 [USD 4,196,086]	$ -	$ -	$ 131,883 [USD 4,196,086]	($ 19,479) [RMB (4,495,098)]	100%	($ 19,479) [USD (625,657)]	$ 105,664 [USD 3,361,899]	$ 145,751 [USD 4,803,914]	Note 10
Tening International Trade (Shanghai) Co., Ltd	General trade	$ 6,286 [USD 200,000]	2	$ 6,286 [USD 200,000]	-	-	$ 6,286 [USD 200,000]	( 103 ) [RMB (27,909)]	100%	( 103 ) [USD (3,243)]	$ 5,219 [USD 166,039]	-	Note 10
Accumulated amount of investments remitted from Taiwan to Mainland China at end of the year (Note 6)	Amount of investments approved by the Investment Commission, MOEA (Notes 4 and 6)	Limit on the amount of investments in Mainland China specified by the Investment Commission, MOEA (Note 5)
---	---	---
$ 138,169 (USD 4,396,086)	$ 289,156 (USD 9,200,000)	$ 1,015,905

Note 1: The investment types are classified into three types as follows:
(I) Direct investment in Mainland China:
(II) Investment in Mainland China through a company in a third region:
(III) Others.

Note 2: It is a company in Mainland China invested in by the Group through CX Development Limited founded and invested in by the Group in a third area. For the relevant investment structure, see Note 14 to the consolidated financial report.

Note 3: It is a company in Mainland China invested in by the Group through CX Technology (Samsa) Corporation founded and invested in by the Group in a third area. For the relevant investment structure, see Note 14 to the consolidated financial report.

Note 4: The investment was approved and registered by the MOEA with Letter Jing-Shen-Er-Zi No. 091025709 dated August 29, 2002, Letter Jing-Shen-Er-Zi No. 093015988 dated July 28, 2004, and Letter Jing-Shen-Er-Zi No. 10700100610 dated May 7, 2018.

Note 5: Calculated based on 60% of the net worth in the Company's financial statements for the most recent period as required by the MOEA's Letter Jing-Shen-Zi No. 09704604680.

Note 6: Translated based on the exchange rate on December 31, 2025.

Note 7: Translated based on the monthly average exchange rate in 2025.

Note 8: Calculated based on the financial statements of the investee companies audited by the parent company's CPA for the period.

Note 9: Translated based on the historical exchange rate.

Note 10: Written off in whole in preparing the consolidated financial statements.

Note 11: In 2017, CX Shanghai repatriated investment income, totaling USD 4,803,914, through an investee company.

CX Technology Corporation and Subsidiaries
Material Transactions with Investee Companies in Mainland China, Either Directly or Indirectly through a Third Area, and Their Prices, Payment Terms, and Unrealized Profits/Losses
January 1 to December 31, 2025

Table 9
Unit: NTD thousand

Name of investee company in Mainland China	Type of transaction	Purchase (Sale)		Price	Transaction terms		Notes/Accounts receivable (payable)		Unrealized profit/loss	Remarks
		Amount	%		Payment terms	Compared to regular transactions	Amount	%
CX Technology (Shanghai) Corporation	Sale	($ 43,387)	( 3%)	$ -	No significant differences	Same as regular transactions	$ 13,160	3%	$ -	Note 1 & 2
CX Technology (Shanghai) Corporation	Purchase	51,748	93%	-	No significant differences	Same as regular transactions	( 22,316)	( 86%)	-	Note 1 & 2
Timing International Trade (Shanghai) Co., Ltd	Sale	( 51,748)	( 77%)	-	No significant differences	Same as regular transactions	22,316	79%	-	Note 1 & 2

Note 1: Subsidiary to subsidiary.
Note 2: The transaction amounts were written off in whole in preparing the consolidated financial statements.

92 -

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CX TECH Audit Report / Information 2025

52066_rns_2026-05-22_e5a8572c-b7c7-4be3-952e-2106b77efca5.pdf

CX Technology Corporation and Subsidiaries

Consolidated Financial Statements and Independent Auditors’ Report 2025 and 2024

Declaration on the Consolidated Financial Statements of Affiliates

Audit Opinions

Basis for Audit Opinions

Key Audit Matters

Recognition of sales revenue – Authenticity of recognized sales revenue from certain customers

Other Matters

Responsibilities of the Management and Governance Units for the Consolidated Financial Statements

Responsibilities of CPAs for the Audit of the Consolidated Financial Statements

IV. Summary of material accounting policies

(I) Statement of compliance

(II) Basis of preparation

(III) Criteria for classification of assets and liabilities as current and non-current

(VI) Margin loans

(VII) Customer margin accounts/securities/futures traders' equity

(VIII) Accounts receivable and payable for settlement

(IX) Inventory

(X) Investment in associates

XXIV. Post-employment benefit plans

(I) Defined contribution plan

(II) Defined benefit plan

XXV. Equity

(IV) Special reserves

Sensitivity analysis

(2) Interest rate risk

Sensitivity analysis

(3) Hedging with call (put) warrants

XXXVII. Note disclosures

XXXVIII. Segment information

CX Technology Corporation and Subsidiaries

Name, Place of Registration, and Other Information of Investee Companies

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CX TECH — Audit Report / Information 2025

52066_rns_2026-05-22_e5a8572c-b7c7-4be3-952e-2106b77efca5.pdf

CX Technology Corporation and Subsidiaries

Consolidated Financial Statements and Independent Auditors’ Report 2025 and 2024

Declaration on the Consolidated Financial Statements of Affiliates

Audit Opinions

Basis for Audit Opinions

Key Audit Matters

Recognition of sales revenue – Authenticity of recognized sales revenue from certain customers

Other Matters

Responsibilities of the Management and Governance Units for the Consolidated Financial Statements

Responsibilities of CPAs for the Audit of the Consolidated Financial Statements

IV. Summary of material accounting policies

(I) Statement of compliance

(II) Basis of preparation

(III) Criteria for classification of assets and liabilities as current and non-current

(VI) Margin loans

(VII) Customer margin accounts/securities/futures traders' equity

(VIII) Accounts receivable and payable for settlement

(IX) Inventory

(X) Investment in associates

XXIV. Post-employment benefit plans

(I) Defined contribution plan

(II) Defined benefit plan

XXV. Equity

(IV) Special reserves

Sensitivity analysis

(2) Interest rate risk

Sensitivity analysis

(3) Hedging with call (put) warrants

XXXVII. Note disclosures

XXXVIII. Segment information

CX Technology Corporation and Subsidiaries

Name, Place of Registration, and Other Information of Investee Companies

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CX TECH Audit Report / Information 2025