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FIT HOLDING CO., LTD.
PARENT COMPANY ONLY FINANCIAL
STATEMENTS AND INDEPENDENT AUDITORS'
REPORT
DECEMBER 31, 2025 AND 2024

For the convenience of readers and for information purpose only, the auditors' report and the accompanying financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. In the event of any discrepancy between the English version and the original Chinese version or any differences in the interpretation of the two versions, the Chinese-language auditors' report and financial statements shall prevail.

FIT HOLDING CO., LTD.
DECEMBER 31, 2025 AND 2024 PARENT COMPANY ONLY FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT TABLE OF CONTENTS

Contents	Page/Number/Index
1. Cover Page	1
2. Table of Contents	2 ~ 3
3. Independent Auditors’ Report	4 ~ 12
4. Parent Company Only Balance Sheets	13
5. Parent Company Only Statements of Comprehensive Income	14
6. Parent Company Only Statements of Changes in Equity	15
7. Parent Company Only Statements of Cash Flows	16
8. Notes to the Parent Company Only Financial Statements	17 ~ 50
(1) History and Organisation	17
(2) The Date of Authorisation for Issuance of the Financial Statements and Procedures for Authorisation	17
(3) Application of New Standards, Amendments and Interpretations	17 ~ 19
(4) Summary of Material Accounting Policies	19 ~ 27
(5) Critical Accounting Judgements, Estimates and Key Sources of Assumption Uncertainty	27
(6) Details of Significant Accounts	27 ~ 40

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Contents

Page/Number/Index

(7) Related Party Transactions 40 ~ 41
(8) Pledged Assets 41
(9) Significant Contingent Liabilities and Unrecognised Contract Commitments 41
(10) Significant Disaster Loss 42
(11) Significant Events after the Balance Sheet Date 42 ~ 43
(12) Others 43 ~ 49
(13) Supplementary Disclosures 49 ~ 50
(14) Segment Information 50

Statements of Major Accounting Items

STATEMENT OF CASH AND CASH EQUIVALENTS STATEMENT 1
STATEMENT OF CHANGES IN INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD STATEMENT 2
STATEMENT OF SHORT-TERM BORROWINGS STATEMENT 3
STATEMENT OF LONG-TERM BORROWINGS STATEMENT 4
SUMMARY STATEMENT OF CURRENT PERIOD EMPLOYEE BENEFITS, DEPRECIATION, DEPLETION AND AMORTIZATION EXPENSES STATEMENT 5

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INDEPENDENT AUDITORS' REPORT TRANSLATED FROM CHINESE

PWCR 25005537

To the Board of Directors and Shareholders of FIT HOLDING CO., LTD.

Opinion

We have audited the accompanying parent company only balance sheets of FIT HOLDING CO., LTD. as at December 31, 2025 and 2024, and the related parent company only statements of comprehensive income, of changes in equity and of cash flows for the years then ended, and notes to the parent company only financial statements, including a summary of material accounting policies

In our opinion, based on our audits and reports of other auditors (please refer to the Other matter section), the accompanying parent company only financial statements present fairly, in all material respects, the parent company only financial position of FIT HOLDING CO., LTD. as at December 31, 2025 and 2024, and its parent company only financial performance and its parent company only cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations that came into effect as endorsed by the Financial Supervisory Commission.

Basis for opinion

We conducted our audits in accordance with the Regulations Governing Financial Statement Audit and Attestation Engagements of Certified Public Accountants and Standards on Auditing of the Republic of China. Our responsibilities under those standards

are further described in the Auditor's responsibilities for the audit of the parent company only financial statements section of our report. We are independent of FIT HOLDING CO., LTD. in accordance with the Norm of Professional Ethics for Certified Public Accountant in the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Based on our audits and the reports

of other auditors, we believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key audit matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Company’s 2025 parent company only financial statements. These matters were addressed in the context of our audit of the parent company only financial statements as a whole and, in forming our opinion thereon, we do not provide a separate opinion on these matters.

The balance of investments accounted for under the equity method recognized amounted to NT$4,955,338 thousand, constituting 87% of the Company’s total assets as at December 31, 2025, and the investment profit (shown as operating revenue) amounted to NT$5,739,904 thousand. Please refer to Note 4(9) for accounting policies on investments accounted for under the equity method and Note 6(3) for details of investments accounted for under the equity method. As the amounts are material to the parent company only financial statements of the Company, the investments accounted for under the equity method - recognition of construction revenue - assessment on the stage of completion; investments accounted for under the equity method - valuation of goodwill impairment; and investments accounted for under the equity method - valuation of property, plant and equipment impairment were identified as key audit matters.

Key audit matters for the Company’s 2025 parent company only financial statements are stated as follows:

Recognition of construction revenue - assessment on the stage of completion

Description

Please refer to Note 4(32) in the consolidated financial statements for accounting policy on construction contracts; Note 5(2) in the consolidated financial statements for the uncertainty of critical judgement, accounting estimates and assumptions applied to construction contracts, Note 6(27) in the consolidated financial statements for details of

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contract assets, contract liabilities and construction revenue, which amounted to NT$10,889,106 thousand, NT$66,119 thousand and NT$24,064,455 thousand, respectively, and Note 6(23) in the consolidated financial statements for details of onerous contract liabilities amounting to NT$639,861 thousand since the unavoidable cost of fulfilling a construction contract exceeded the expected economic benefits to be derived from the contract, as of December 31, 2025 and for the year then ended.

The construction revenue and costs mainly arise from undertaking construction works. If the outcome of a construction contract can be estimated reliably, revenue should be recognised by reference to the stage of completion of the contract activity, using the percentage-of-completion method of accounting, over the contract term. The stage of completion of a construction contract is measured by the proportion of contract costs incurred for the construction performed as of the financial reporting date to the estimated total costs for the construction contract over time. Nature of constructions and the price fluctuations in the market to estimate the costs for each construction activity such as estimated subcontract charges and material and labour expenses, and the complexity of aforementioned total cost usually involves subjective judgement and contains a high degree of uncertainty, which might affect the construction revenue recognition, we consider the assessment on the stage of completion which was applied on construction revenue recognition as one of the key audit matters.

How our audit addressed the matter

We performed the following audit procedures on the above key audit matter :

A. Obtained an understanding on the nature of business and industry, and assessed the reasonableness of internal process applied to estimate total construction cost, including the basis for estimating the expected total cost for construction contracts of the same nature.

B. Assessed and tested the internal controls used by the management to recognise construction revenue based on the stage of completion, including checking the supporting documents of additional or reduced constructions and significant

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constructions performed in the period.

C. Sampled and tested the subcontracts that have been assigned, and assessed the basis and reasonableness of estimating costs for those that have not been assigned.

D. Performed substantive procedures relating to the construction profit or loss statement, including sampling and verifying the costs incurred in the period with the appropriate evidence, and recalculating and confirming that construction revenue calculated based on the stage of completion had been accounted for appropriately.

Investments accounted for under the equity method - Valuation of goodwill impairment

Description

Please refer to Note 4(21) in the consolidated financial statements for accounting policies on impairment loss on non-financial assets, Note 5(2) in the consolidated financial statements for the uncertainty of accounting estimates and assumptions applied to goodwill impairment valuation, and Note 6(13) in the consolidated financial statements for details of intangible assets. As of December 31, 2025, the cost of goodwill generated from the acquisition of subsidiaries, Power Quotient International Co., Ltd. and Foxlink Image Technology Co., Ltd. amounted to NT$249,763 thousand and NT$ 611,760 thousand, respectively. The Company valued the impairment of goodwill through the discounted cash flow method which measures the cash generating unit's recoverable amount. As the assumptions of expected future cash flows involved subjective judgement and a high degree of uncertainty which would cause a material impact on the valuation result, the valuation of goodwill impairment was identified as one of the key audit matters.

How our audit addressed the matter

We performed the following audit procedures on the above key audit matter:

A. Obtained an understanding and assessed the reasonableness of valuation of goodwill impairment policies and procedures.

B. Obtained the external appraisal report on impairment valuation and examined the

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external appraiser’s qualification and assessed the independence, competence and objectiveness.

C. Assessed that the valuation model used in the appraisal report was widely used and appropriate.

D. Assessed the reasonableness of significant assumptions (including expected growth rate and discount rate) applied in the appraisal report.

Investments accounted for under equity method - Valuation of property, plant and equipment impairment

Description

As the 3C components’ life cycles are relatively short and the market is highly competitive, there is a high risk of property, plant and equipment incurring an impairment loss. The Company’s subsidiaries valued the impairment of the cash generating unit’s property, plant and equipment which had an indication of impairment. We mainly relied on the external appraisal report. As the external appraisal report on impairment valuation involved subjective judgement, various assumptions and a high degree of uncertainty which would cause a material impact on the valuation result, the valuation of property, plant and equipment impairment was identified as one of the key audit matters.

How our audit addressed the matter

We performed the following audit procedures on the above key audit matter:

A. Obtained an understanding and assessed the reasonableness of valuation of property, plant and equipment impairment policies and procedures.

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B. Examined the external appraiser’s qualification and assessed the independence, competence and objectiveness.
C. Verified whether the list of properties for the external appraiser is correct.
D. Assessed that the valuation method used in the appraisal report was appropriate.
E. Tested the external appraisal report’s valuation basis adequacy.

Other matter - Reference to the reports of other auditors

We did not audit the financial statements of certain investments accounted for under the equity method which were audited by other auditors. Therefore, our opinion expressed herein, insofar as it relates to the amounts included in respect of these associates and the information disclosed in Note 13, is based solely on the reports of the other auditors. The balance of these investments accounted for under the equity method amounted to NT$698,933 thousand, constituting 5.36% of the consolidated total assets as at December 31, 2024, and the share of loss of associates and joint ventures accounted for under the equity method amounted to NT$18,676 thousand, constituting 0.72% of the total comprehensive income for the year then ended.

Responsibilities of management and those charged with governance for the parent company only financial statements

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

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

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

Auditors’ responsibilities for the audit of the parent company only financial statements

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

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

A. Identify and assess the risks of material misstatement of the parent company only financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

B. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.

C. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

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D. Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the parent company only financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Company to cease to continue as a going concern.

E. Evaluate the overall presentation, structure and content of the parent company only financial statements, including the disclosures, and whether the parent company only financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

F. Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Company to express an opinion on the parent company only financial statements. We are responsible for the direction, supervision and performance of the audit. We remain solely responsible for our audit opinion.

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

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

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the parent company only financial statements of the current period and are therefore the key audit matters. We

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describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Chou, Hsiao-Tzu

Lin, Kuan-Hung

For and on behalf of PricewaterhouseCoopers, Taiwan

March 30, 2026

The accompanying parent company only financial statements are not intended to present the financial position and results of operations and cash flows in accordance with accounting principles generally accepted in countries and jurisdictions other than the Republic of China. The standards, procedures and practices in the Republic of China governing the audit of such financial statements may differ from those generally accepted in countries and jurisdictions other than the Republic of China. Accordingly, the accompanying parent company only financial statements and independent auditors’ report are not intended for use by those who are not informed about the accounting principles or auditing standards generally accepted in the Republic of China, and their applications in practice.

As the financial statements are the responsibility of the management, PricewaterhouseCoopers cannot accept any liability for the use of, or reliance on, the English translation or for any errors or misunderstandings that may derive from the translation.

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FIT HOLDING CO., LTD.
PARENT COMPANY ONLY BALANCE SHEETS
DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars)

Assets	Notes	December 31, 2025		December 31, 2024
		AMOUNT	%	AMOUNT	%
Current assets
1100	Cash and cash equivalents	6(1)	$ 272,035	5	$ 35,799	-
1210	Other receivables - related parties	7	203,810	4	624	-
1410	Prepayments		37	-	32	-
1470	Other current assets		8,413	-	8,428	-
11XX	Current Assets		484,295	9	44,883	-
Non-current assets
1517	Non-current financial assets at fair value through other comprehensive income	6(2)
1550	Investments accounted for under equity method	6(3)	210,529	4	210,529	2
1600	Property, plant and equipment		4,955,338	87	12,787,621	98
1780	Intangible assets	6(4)	18	-	29	-
15XX	Non-current assets		201	-	803	-
1XXX	Total assets		5,166,086	91	12,998,982	100
Liabilities and Equity
Current liabilities
2100	Short-term borrowings	6(6)	$ 768,000	14	$ 75,000	-
2110	Short-term notes and bills payable	6(7)	99,934	2	99,989	1
2200	Other payables	7	17,154	-	100,330	1
2230	Current income tax liabilities		-	-	624	-
2320	Long-term liabilities, current portion	6(8)	300,000	5	-	-
2399	Other current liabilities, others		54	-	45	-
21XX	Current Liabilities		1,185,142	21	275,988	2
Non-current liabilities
2540	Long-term borrowings	6(8)	1,150,000	20	1,900,000	15
25XX	Non-current liabilities		1,150,000	20	1,900,000	15
2XXX	Total Liabilities		2,335,142	41	2,175,988	17
Equity
Share capital
3110	Share capital - common stock	6(9)	2,462,421	44	2,462,421	19
Capital surplus
3200	Capital surplus	6(10)	5,738,331	102	5,127,207	38
Retained earnings
3310	Legal reserve		233,561	4	120,162	1
3320	Special reserve		8,361	-	8,361	-
3350	(Accumulated deficit) unappropriated retained earnings	6(11)	(5,189,476)	(92)	1,279,725	10
Other equity interest
3400	Other equity interest		62,041	1	1,870,001	15
3XXX	Total equity		3,315,239	59	10,867,877	83
Significant contingent liabilities and unrecognised contract commitments
Significant events after the balance sheet date
3X2X	Total liabilities and equity		$ 5,650,381	100	$ 13,043,865	100

The accompanying notes are an integral part of these parent company only financial statements.

FIT HOLDING CO., LTD.
PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME
YEARS ENDED DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars, except for earnings(loss) per share amounts)

	Items	Notes	Year ended December 31
			2025		2024
			AMOUNT	%	AMOUNT	%
4000	Sales revenue	6(3)	$	-	$ 1,178,785	100
5000	Operating costs	6(3)	(	5,739,904)	-	-
5900	Net operating margin		(	5,739,904)	-	1,178,785
	Operating expenses	6(12) and 7
6200	General and administrative expenses		(	20,617)	-	( 34,397)
6000	Total operating expenses		(	20,617)	-	( 34,397)
6900	Operating (loss) profit		(	5,760,521)	-	1,144,388
	Non-operating income and expenses
7100	Interest income		1,424	-	768	-
7010	Other income	6(2)	192	-	17,978	1
7020	Other gains and losses		3,244	-	1,015	-
7050	Finance costs		(	45,574)	-	( 39,808)
7000	Total non-operating revenue and expenses		(	40,714)	-	( 20,047)
7900	(Loss) profit before income tax		(	5,801,235)	-	1,124,341
7950	Income tax (expense) benefit	6(13)	175,510	-	( 271)	-
8200	(Loss) profit for the year		($	5,625,725)	-	$ 1,124,070
	Other comprehensive income
	Components of other comprehensive income that will not be reclassified to profit or loss
8330	Share of other comprehensive income of associates and joint ventures accounted for using equity method, components of other comprehensive income that will not be reclassified to profit or loss		($	1,729,240)	-	$ 1,285,754
8310	Components of other comprehensive income that will not be reclassified to profit or loss		(	1,729,240)	-	1,285,754
	Components of other comprehensive income that will be reclassified to profit or loss
8380	Share of other comprehensive income of associates and joint ventures accounted for using equity method, components of other comprehensive income that will be reclassified to profit or loss		(	70,071)	-	184,832
8360	Components of other comprehensive income that will be reclassified to profit or loss		(	70,071)	-	184,832
8300	Other comprehensive (loss) income for the year		($	1,799,311)	-	$ 1,470,586
8500	Total comprehensive (loss) income for the year		($	7,425,036)	-	$ 2,594,656
	Basic earnings (loss) per share	6(14)
9750	Total basic earnings (loss) per share (in dollars)		($	22.85)	$	4.56
9850	Total diluted earnings (loss) per share (in dollars)		($	22.85)	$	4.54

The accompanying notes are an integral part of these parent company only financial statements.

FIT HOLDING CO., LTD.
PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY
YEARS ENDED DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars)

	Notes	Share capital - common stock	Capital surplus	Retained earnings			Other equity interest		Total equity
				Legal reserve	Special reserve	Unappropriated retained earnings (accumulated deficit)	Financial statements translation differences of foreign operations	Unrealised gains (losses) from financial assets measured at fair value through other comprehensive income
Year 2024
Balance at January 1, 2024		$ 2,462,421	$ 5,004,042	$ 105,157	$ 299,035	$ 239,431	($ 226,606)	$ 635,939	$ 8,519,419
Profit		-	-	-	-	1,124,070	-	-	1,124,070
Other comprehensive income		-	-	-	-	9,918	184,832	1,275,836	1,470,586
Total comprehensive income		-	-	-	-	1,133,988	184,832	1,275,836	2,594,656
Cash dividends paid from additional paid-in capital	6(10)	-	( 123,121 )	-	-	-	-	-	( 123,121 )
Appropriation and distribution of retained earnings	6(11)
Legal reserve appropriated		-	-	15,005	-	( 15,005 )	-	-	-
Special reserve appropriated		-	-	-	( 290,674 )	290,674	-	-	-
Cash dividends to shareholders		-	-	-	-	( 369,363 )	-	-	( 369,363 )
Adjustments to share of changes in equity of associates and joint ventures accounted for using the equity method	6(3)
Changes in ownership interests in subsidiaries	6(3)	-	30,422	-	-	-	-	-	30,422
Compensation costs	6(3)	-	214,517	-	-	-	-	-	214,517
Balance at December 31, 2024		$ 2,462,421	$ 5,127,207	$ 120,162	$ 8,361	$ 1,279,725	($ 41,774 )	$ 1,911,775	$ 10,867,877
Year 2025
Balance at January 1, 2025		$ 2,462,421	$ 5,127,207	$ 120,162	$ 8,361	$ 1,279,725	($ 41,774 )	$ 1,911,775	$ 10,867,877
Profit (loss)		-	-	-	-	( 5,625,725 )	-	-	( 5,625,725 )
Other comprehensive income(loss)		-	-	-	-	8,649	( 70,071 )	( 1,737,889 )	( 1,799,311 )
Total comprehensive loss		-	-	-	-	( 5,617,076 )	( 70,071 )	( 1,737,889 )	( 7,425,036 )
Appropriation and distribution of retained earnings	6(11)
Legal reserve appropriated		-	-	113,399	-	( 113,399 )	-	-	-
Cash dividends to shareholders		-	-	-	-	( 738,726 )	-	-	( 738,726 )
Adjustments to share of changes in equity of associates and joint ventures accounted for using the equity method	6(3)
Changes in ownership interests in subsidiaries	6(3)	-	13,441	-	-	-	-	-	13,441
Disposal of investments accounted for using the equity method		-	573,537	-	-	-	-	-	573,537
Compensation costs	6(3)		( 2,477 )	-	-	-	-	-	( 2,477 )
Balance at December 31, 2025		$ 2,462,421	$ 5,738,331	$ 233,561	$ 8,361	($ 5,189,476 )	($ 111,845 )	$ 173,886	$ 5,315,239

The accompanying notes are an integral part of these parent company only financial statements.

FIT HOLDING CO., LTD.
PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars)

	Year ended December 31
	Notes	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES
(Loss) profit before tax	($	5,801,235)	$ 1,124,341
Adjustments
Adjustments to reconcile profit (loss)
Share of loss (profit) of associates accounted for using the equity method	6(3)	5,739,904	( 1,178,785 )
Depreciation		11	4
Amortisation	6(4)	602	602
Interest expense		45,574	39,808
Interest income		( 1,424 )	( 768 )
Dividend income	6(2)	-	( 17,775 )
Gain on disposal of investment	6(3)	3,274	-
Changes in operating assets and liabilities
Changes in operating assets
Other receivables due from related parties		( 203,186 )	( 624 )
Other current assets		13	( 694 )
Changes in operating liabilities
Prepaid expenses		( 5 )	4
Other payables		165,150	( 26,210 )
Other current liabilities-others		9	9
Cash outflow generated from operations		( 51,313 )	( 60,088 )
Interest received		1,426	775
Dividend received		907,467	430,260
Interest paid		( 45,399 )	( 39,067 )
Income taxes paid		( 80,164 )	( 73 )
Net cash flows from operating activities		732,017	331,807
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property and equipment		-	( 33 )
Net cash flows used in investing activities		-	( 33 )
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (decrease) in short-term borrowings		693,000	( 439,000 )
Decrease in short-term notes and bills payable		( 55 )	( 199,878 )
Proceeds from long-term debt		2,950,000	2,807,000
Repayments of long-term debt		( 3,400,000 )	( 2,007,000 )
Cash dividends paid	6(11)	( 738,726 )	( 369,363 )
Cash dividends paid from additional paid-in capital	6(10)	-	( 123,121 )
Net cash flows used in financing activities		( 495,781 )	( 331,362 )
Net increase in cash and cash equivalents		236,236	412
Cash and cash equivalents at beginning of year		35,799	35,387
Cash and cash equivalents at end of year		$ 272,035	$ 35,799

The accompanying notes are an integral part of these parent company only financial statements.

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FIT HOLDING CO., LTD.

NOTES TO THE PARENT COMPANY ONLY FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

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

1. History and Organisation

FIT Holding Co., Ltd. (the “Company”) is a holding company established by Glory Science Co., Ltd. (Glory Science), Power Quotient International Co., Ltd. (PQI) and Foxlink Image Technology Co., Ltd. (Foxlink Image) through a share swap in accordance with the regulations on October 1, 2018. The Company’s shares were listed on the Taiwan Stock Exchange (TSE) and approved by the regulatory authority on the same date. The Company acquired 100% shares of Glory Science, PQI and Foxlink Image through share swap by exchanging 1 common share of PQI with 0.194 common share of the Company, 1 common share of Foxlink Image with 0.529 common share of the Company and 1 common share of Glory Science with 1 common share of the Company. The Company is primarily engaged in establishing the management mechanism for the Group, supervising the subsidiaries’ operation, and integrating the resources and platforms to improve the Group’s overall operational efficiency. Cheng Uei Precision Industry Co., Ltd. holds an indirect ownership interest of 38.19% in the Company, which was the Company’s largest shareholder and had control over the Company. Cheng Uei was the ultimate parent company of the Company.

2. The Date of Authorisation for Issuance of the Financial Statements and Procedures for Authorisation

These parent company only financial statements were authorised for issuance by the Board of Directors on March 30, 2026.

3. Application of New Standards, Amendments and Interpretations

(1) Effect of the adoption of new issuances of or amendments to International Financial Reporting Standards (“IFRS®”) Accounting Standards that came into effect as endorsed by the Financial Supervisory Commission (“FSC”)

New standards, interpretations and amendments endorsed by FSC and became effective from 2025 are as follows:

New Standards, Interpretations and Amendments	Effective date by International Accounting Standards Board
Amendments to IAS 21, ‘Lack of exchangeability’	January 1, 2025

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

(2) Effect of new issuances of or amendments to IFRS Accounting Standards as endorsed by the FSC but not yet adopted by the Company

New standards, interpretations and amendments endorsed by the FSC effective from 2026 are as follows:

New Standards, Interpretations and Amendments	Effective date by International Accounting Standards Board
Amendments to IFRS 9 and IFRS 7, ‘Amendments to the classification and measurement of financial instruments’	January 1, 2026
Amendments to IFRS 9 and IFRS 7, ‘Contracts referencing nature-dependent electricity’	January 1, 2026
IFRS 17, ‘Insurance contracts’	January 1, 2023
Amendments to IFRS 17, ‘Insurance contracts’	January 1, 2023
Amendment to IFRS 17, ‘Initial application of IFRS 17 and IFRS 9 – comparative information’	January 1, 2023
Annual Improvements to IFRS Accounting Standards—Volume 11	January 1, 2026

Except for the following, the above standards and interpretations have no significant impact to the Company’s financial condition and financial performance based on the Company’s assessment.

Specific provisions of Amendments to IFRS 9 and IFRS 7, ‘Amendments to the classification and measurement of financial instruments’

A. Clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest (SPPI) criterion, covering contractual terms that can change cash flows based on contingent events (for example, interest rates linked to ESG targets), non-recourse features and contractually-linked instruments.

B. Add new disclosures for certain instruments with contractual terms that can change cash flows (such as some instruments with features linked to the achievement of environment, social and governance (ESG) targets), including a qualitative description of the nature of the contingent event, quantitative information about the possible changes to contractual cash flows that could result from those contractual terms and the gross carrying amount of financial assets and amortised cost of financial liabilities subject to these contractual terms.

C. Clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception relating to the derecognition of a financial liability (or part of a financial liability) settled through an electronic cash transfer system. Applying the exception, an entity is permitted to derecognise a financial liability at an earlier date if, and only if, the entity has initiated a payment instruction and specific conditions are met.

The conditions for the exception are that the entity making the payment does not have:

(a). the practical ability to withdraw, stop or cancel the payment instruction;

(b). the practical ability to access the cash used for settlement; and

(c). significant settlement risk.

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D. Update the disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI). The entity shall disclose the fair value of each class of investment and is no longer required to disclose the fair value of each investment. In addition, the amendments require the entity to disclose the fair value gain or loss presented in other comprehensive income during the period, showing separately the fair value gain or loss related to investments derecognised during the reporting period and the fair value gain or loss related to investments held at the end of the reporting period; and any transfers of the cumulative gain or loss within equity during the reporting period related to the investments derecognised during that reporting period.

(3) IFRS Accounting Standards issued by IASB but not yet endorsed by the FSC

New standards, interpretations and amendments issued by IASB but not yet included in the IFRS Accounting Standards as endorsed by the FSC are as follows:

New Standards, Interpretations and Amendments	Effective date by International Accounting Standards Board
Amendments to IFRS 10 and IAS 28, ‘Sale or contribution of assets between an investor and its associate or joint venture’	To be determined by International Accounting Standards Board
IFRS 18, ‘Presentation and disclosure in financial statements’	January 1, 2027 (Note)
IFRS 19, ‘Subsidiaries without public accountability: disclosures’	January 1, 2027
Amendments to IAS 21, ‘Translation to a Hyperinflationary Presentation Currency’	January 1, 2027

Note : The FSC has announced in a press release on September 25, 2025 that public companies will apply IFRS 18 starting from the fiscal year 2028. Additionally, entities can choose to adopt IFRS 18 earlier based on their requirements after the FSC endorses IFRS 18.

Except for the following, the above standards and interpretations have no significant impact to the Company's financial condition and financial performance based on the Company's assessment.

IFRS 18, 'Presentation and disclosure in financial statements'

IFRS 18, 'Presentation and disclosure in financial statements' replaces IAS 1. The standard introduces a defined structure of the statement of profit or loss, disclosure requirements related to management-defined performance measures, and enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes.

Summary of Material Accounting Policies

The principal accounting policies applied in the preparation of these parent company only financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

(1) Compliance statement

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

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(2) Basis of preparation

A. The parent company only financial statements have been prepared under the historical cost convention.

B. The preparation of financial statements in conformity with International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations as endorsed by the FSC (collectively referred herein as the “IFRSs”) requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the parent company only financial statements are disclosed in Note 5.

(3) Foreign currency translation

Items included in the financial statements of the Company’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The parent company only financial statements are presented in New Taiwan dollars, which is the Company’s functional currency.

A. Foreign currency transactions and balances

(a) Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are remeasured. Foreign exchange gains and losses resulting from the settlement of such transactions are recognised in profit or loss in the period in which they arise.

(b) Monetary assets and liabilities denominated in foreign currencies at the period end are re-translated at the exchange rates prevailing at the balance sheet date. Exchange differences arising upon re-translation at the balance sheet date are recognised in profit or loss.

(c) Non-monetary assets and liabilities denominated in foreign currencies held at fair value through profit or loss are re-translated at the exchange rates prevailing at the balance sheet date; their translation differences are recognised in profit or loss. Non-monetary assets and liabilities denominated in foreign currencies held at fair value through other comprehensive income are re-translated at the exchange rates prevailing at the balance sheet date; their translation differences are recognised in other comprehensive income. However, non-monetary assets and liabilities denominated in foreign currencies that are not measured at fair value are translated using the historical exchange rates at the dates of the initial transactions.

(d) All foreign exchange gains and losses are presented in the statement of comprehensive income within ‘other gains and losses’.

B. Translation of foreign operations

The operating results and financial position of all the company entities that have a functional currency different from the presentation currency are translated into the presentation currency as follows:

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(a) Assets and liabilities for each balance sheet presented are translated at the closing exchange rate at the date of that balance sheet;
(b) Income and expenses for each statement of comprehensive income are translated at average exchange rates of that period; and
(c) All resulting exchange differences are recognised in other comprehensive income.

(4) Classification of current and non-current items

A. Assets that meet one of the following criteria are classified as current assets; otherwise they are classified as non-current assets:

(a) Assets that are expected to be realised, or are intended to be sold or consumed in the normal operating cycle;
(b) Assets that are held primarily for the purpose of trading;
(c) Assets that are expected to be realised within twelve months after the reporting period;
(d) Cash and cash equivalents, excluding restricted cash and cash equivalents and those that are to be exchanged or used to settle liabilities for at least twelve months after the reporting period.

B. Liabilities that meet one of the following criteria are classified as current liabilities; otherwise they are classified as non-current liabilities:

(a) Liabilities that are expected to be settled in the normal operating cycle;
(b) Liabilities that are held primarily for the purpose of trading;
(c) Liabilities that are due to be settled within twelve months after the reporting period;
(d) It does not have the right at the end of the reporting period to defer settlement of the liability at least twelve months after the reporting period.

(5) Cash equivalents

Cash equivalents refer to short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Time deposits that meet the definition above and are held for the purpose of meeting short-term cash commitments in operations are classified as cash equivalents.

(6) Financial assets at fair value through other comprehensive income

A. Financial assets at fair value through other comprehensive income comprise equity securities which are not held for trading, and for which the Company has made an irrevocable election at initial recognition to recognise changes in fair value in other comprehensive income and debt instruments which meet all of the following criteria:

(a) The objective of the Company's business model is achieved both by collecting contractual cash flows and selling financial assets; and
(b) The assets' contractual cash flows represent solely payments of principal and interest.

B. On a regular way purchase or sale basis, financial assets at fair value through other comprehensive income are recognised and derecognised using trade date accounting.

C. At initial recognition, the Group measures the financial assets at fair value plus transaction costs. The Group subsequently measures the financial assets at fair value:

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The changes in fair value of equity investments that were recognised in other comprehensive income are reclassified to retained earnings and are not reclassified to profit or loss following the derecognition of the investment. Dividends are recognised as revenue when the right to receive payment is established, future economic benefits associated with the dividend will flow to the Group and the amount of the dividend can be measured reliably.

(7) Financial assets at amortised cost

A. Financial assets at amortised cost are those that meet all of the following criteria:

(a) The objective of the Company’s business model is achieved by collecting contractual cash flows.

(b) The assets’ contractual cash flows represent solely payments of principal and interest.

B. On a regular way purchase or sale basis, financial assets at amortised cost are recognised and derecognised using trade date accounting.

C. At initial recognition, the Company measures the financial assets at fair value plus transaction costs. Interest income from these financial assets is included in finance income using the effective interest method. A gain or loss is recognised in profit or loss when the asset is derecognised or impaired.

D. The Company’s time deposits which do not fall under cash equivalents are those with a short maturity period and are measured at initial investment amount as the effect of discounting is immaterial.

(8) Impairment of financial assets

For debt instruments measured at financial assets at amortised cost, at each reporting date, the Company recognises the impairment provision for 12 months expected credit losses if there has not been a significant increase in credit risk since initial recognition or recognises the impairment provision for the lifetime expected credit losses (ECLs) if such credit risk has increased since initial recognition after taking into consideration all reasonable and verifiable information that includes forecasts. On the other hand, for accounts receivable or contract assets that do not contain a significant financing component, the Company recognises the impairment provision for lifetime ECLs.

(9) Investments accounted for using equity method / subsidiaries and associates

A. Subsidiaries are all entities (including structured entities) controlled by the Company. The Company controls an entity when the Company is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity.

B. Unrealised profit (loss) from the transactions between the Company and subsidiaries have been offset. The accounting policies of the subsidiaries have been adjusted to be consistent with the Company’s accounting policies.

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C. The Company’s share of its subsidiaries’ post-acquisition profits or losses is recognised in profit or loss, and its share of post-acquisition movements in other comprehensive income is recognised in other comprehensive income. When the Company’s share of losses in a subsidiary equals or exceeds its interest in the subsidiary, the Company continues to recognise losses proportionate to its ownership.

D. Associates are all entities over which the Company has significant influence but not control. In general, it is presumed that the investor has significant influence, if an investor holds, directly or indirectly 20 percent or more of the voting power of the investee. Investments in associates are accounted for using the equity method and are initially recognised at cost.

E. The Company’s share of its associates’ post-acquisition profits or losses is recognised in profit or loss, and its share of post-acquisition movements in other comprehensive income is recognised in other comprehensive income. When the Company’s share of losses in an associate equals or exceeds its interest in the associate, including any other unsecured receivables, the Company does not recognise further losses, unless it has incurred legal or constructive obligations or made payments on behalf of the associate.

F. When changes in an associate’s equity do not arise from profit or loss or other comprehensive income of the associate and such changes do not affect the Company’s ownership percentage of the associate, the Company recognises the Company’s share of change in equity of the associate in ‘capital surplus’ in proportion to its ownership.

G. Unrealised gains on transactions between the Company and its associates are eliminated to the extent of the Company’s interest in the associates. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been adjusted where necessary to ensure consistency with the policies adopted by the Company.

H. In the case that an associate issues new shares and the Company does not subscribe or acquire new shares proportionately, which results in a change in the Company’s ownership percentage of the associate but maintains significant influence on the associate, then ‘capital surplus’ and ‘investments accounted for under the equity method’ shall be adjusted for the increase or decrease of its share of equity interest. If the above condition causes a decrease in the Company’s ownership percentage of the associate, in addition to the above adjustment, the amounts previously recognised in other comprehensive income in relation to the associate are reclassified to profit or loss proportionately on the same basis as would be required if the relevant assets or liabilities were disposed of.

I. Upon loss of significant influence over an associate, the Company remeasures any investment retained in the former associate at its fair value. Any difference between fair value and carrying amount is recognised in profit or loss.

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J. When the Company disposes its investment in an associate and loses significant influence over this associate, the amounts previously recognised in other comprehensive income in relation to the associate, are reclassified to profit or loss, on the same basis as would be required if the relevant assets or liabilities were disposed of. If it retains significant influence over this associate, the amounts previously recognised in other comprehensive income in relation to the associate are reclassified to profit or loss proportionately in accordance with the aforementioned approach.

K. When the Company disposes its investment in an associate and loses significant influence over this associate, the amounts previously recognised as capital surplus in relation to the associate are transferred to profit or loss. If it retains significant influence over this associate, the amounts previously recognised as capital surplus in relation to the associate are transferred to profit or loss proportionately.

L. Pursuant to the “Regulations Governing the Preparation of Financial Reports by Securities Issuers,” profit (loss) of the current period and other comprehensive income in the parent company only financial statements shall be equal to the amount attributable to owners of the parent in the parent company only financial statements. Owners’ equity in the parent company only financial statements shall be equal to equity attributable to owners of the parent in the consolidated financial statements.

(10) Property, plant and equipment

A. Property, plant and equipment are initially recorded at cost. Borrowing costs incurred during the construction period are capitalised.

B. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to profit or loss during the financial period in which they are incurred.

C. Land is not depreciated. Other property, plant and equipment apply cost model and are depreciated using the straight-line method to allocate their cost over their estimated useful lives. Each part of an item of property, plant, and equipment with a cost that is significant in relation to the total cost of the item must be depreciated separately.

D. The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each financial year-end. If expectations for the assets’ residual values and useful lives differ from previous estimates or the patterns of consumption of the assets’ future economic benefits embodied in the assets have changed significantly, any change is accounted for as a change in estimate under IAS 8, ‘Accounting Policies, Changes in Accounting Estimates and Errors’, from the date of the change. The estimated useful lives of property, plant and equipment are as follows:

Office equipment	3 years

(11) Intangible assets

Intangible assets other than goodwill, mainly software and customer relationship, are amortised on a straight-line basis over their estimated useful life of 3 years.

(12) Impairment of non-financial assets

The Company assesses at each balance sheet date the recoverable amounts of those assets where there is an indication that they are impaired. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell or value in use. When the circumstances or reasons for recognising impairment loss for an asset in prior years no longer exist or diminish, the impairment loss is reversed. The increased carrying amount due to reversal should not be more than what the depreciated or amortised historical cost would have been if the impairment had not been recognised.

(13) Borrowings

Borrowings comprise long-term and short-term bank borrowings. Borrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently stated at amortised cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognised in profit or loss over the period of the borrowings using the effective interest method.

(14) Employee benefits

A. Short-term employee benefits

Short-term employee benefits are measured at the undiscounted amount of the benefits expected to be paid in respect of service rendered by employees in a period and should be recognised as expense in that period when the employees render service.

B. Pensions

Defined contribution plans

For defined contribution plans, the contributions are recognised as pension expense when they are due on an accrual basis. Prepaid contributions are recognised as an asset to the extent of a cash refund or a reduction in the future payments.

C. Employees’ compensation and directors’ remuneration

Employees’ compensation and directors’ and supervisors’ remuneration are recognised as expense and liability, provided that such recognition is required under legal or constructive obligation and those amounts can be reliably estimated. Any difference between the resolved amounts and the subsequently actual distributed amounts is accounted for as changes in estimates. If employee compensation is paid by shares, the Company calculates the number of shares based on the closing price at the previous day of the board meeting resolution.

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(15) Income tax

A. The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or items recognised directly in equity, in which cases the tax is recognised in other comprehensive income or equity.

B. The current income tax expense is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Company operates and generates taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in accordance with applicable tax regulations. It establishes provisions where appropriate based on the amounts expected to be paid to the tax authorities. An additional tax is levied on the unappropriated retained earnings and is recorded as income tax expense in the year the stockholders resolve to retain the earnings.

C. Deferred tax is recognised, using the balance sheet liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the parent company only balance sheet. However, the deferred tax is not accounted for if it arises from initial recognition of goodwill or of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss and does not give rise to equal taxable and deductible temporary differences. Deferred tax is provided on temporary differences arising on investments in subsidiaries, except where the timing of the reversal of the temporary difference is controlled by the Company and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the balance sheet date and are expected to apply when the related deferred tax asset is realised or the deferred tax liability is settled.

D. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised. At each balance sheet date, unrecognised and recognised deferred tax assets are reassessed.

E. Current income tax assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously. Deferred tax assets and liabilities are offset on the balance sheet when the entity has the legally enforceable right to offset current tax assets against current tax liabilities and they are levied by the same taxation authority on either the same entity or different entities that intend to settle on a net basis or realise the asset and settle the liability simultaneously.

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(16) Dividends

Dividends are recorded in the Company’s financial statements in the period in which they are approved at the meeting of Board of Directors. Cash dividends are recorded as liabilities; stock dividends are recorded as stock dividends to be distributed and are reclassified to ordinary shares on the effective date of new shares issuance.

Critical Accounting Judgements, Estimates and Key Sources of Assumption Uncertainty

The preparation of these parent company only financial statements requires management to make critical judgements in applying the Company’s accounting policies and make critical assumptions and estimates concerning future events. Assumptions and estimates may differ from the actual results and are continually evaluated and adjusted based on historical experience and other factors. Such assumptions and estimates have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year; and the related information is addressed below:

(1) Critical judgements in applying the Company’s accounting policies

None.

(2) Critical accounting estimates and assumptions

Impairment assessment of investments accounted for using equity method

The Company assesses the impairment of an investment accounted for using equity method as soon as there is any indication that it might have been impaired and its carrying amount cannot be recovered. The Company assesses the recoverable amounts of an investment accounted for under the equity method based on the present value of the Company’s share of expected future cash flows of the investee, and analyses the reasonableness of related assumptions.

Details of Significant Accounts

(1) Cash and cash equivalents

	December 31, 2025	December 31, 2024
Cash on hand and revolving funds	$ -	$ 1
Checking accounts and demand deposits	272,035	5,482
Time deposits	-	30,316
Total	$ 272,035	$ 35,799

A. The Company transacts with a variety of financial institutions all with high credit quality to disperse credit risk, so it expects that the probability of counterparty default is remote.

B. The Company has no cash and cash equivalents pledged to others as collateral.

(2) Financial assets at fair value through other comprehensive income

Items	December 31, 2025	December 31, 2024
Non-current items:
Equity instruments
Unlisted stocks	$ 210,529	$ 210,529

A. Amounts recognised in profit or loss in relation to financial assets at fair value through other comprehensive income are listed below:

	2025	2024
Equity instruments at fair value through other comprehensive income
Dividend income recognised in profit or loss	$ -	$ 17,775

B. Information relating to credit risk of financial assets at fair value through other comprehensive income is provided in Note 12(2).

(3) Investments accounted for using the equity method

	December 31, 2025	December 31, 2024
Foxlink Image Technology Co., Ltd.	$ 3,378,613	$ 6,289,136
Power Quotient International Co., Ltd.	682,417	5,836,293
Shih Fong Power Co., Ltd.	390,663	389,628
Glory Science Co., Ltd.	466,873	236,545
Synergy Co., Ltd.	36,772	36,019
	$ 4,955,338	$ 12,787,621

A. Details of the Company's subsidiaries are provided in Note 4(3) of the Company's 2025 consolidated financial statements.

B. The investment (loss) profit of ($5,739,904) and $1,178,785 recognised for the investments accounted for using equity method for the years ended December 31, 2025 and 2024, respectively, was based on each investee's audited financial statements for the corresponding period.

C. The Company and its subsidiary Foxlink Image Technology Co., Ltd. hold 16.3% and 34.7% of the equity of Shih Fong Power Co., Ltd. respectively, and jointly hold 51% of the equity of Shih Fong Power Co., Ltd., therefore the investee is recognized as an investment accounted for under the equity method.

D. For the year ended December 31, 2024, because the investee under the equity method, POWER CHANNEL LIMITED, of the Company did not participate in the capital increase of Sharetronic Data Technology Co., Ltd. proportionally to its interests, the Company decreased its share interests to 16.79% and recognised capital surplus accounting to $27,946 proportionally to its interests.

E. For the year ended December 31, 2024, the Company's second-tier subsidiary, Shinfox Energy Co., Ltd., had changes in equity due to conversion of convertible bonds, and the Company recognised capital surplus proportionately to ownership amounting to $214,399.

F. For the year ended December 31, 2024, the Company did not participate in the capital increase of the investee accounted for using equity method, Synergy, proportionately to ownership, and the shareholding ratio decreased to 8.88%. The Company recognised capital surplus according to shareholding ratio amounting to $2,476.

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G. The Company’s second-tier subsidiary, Foxwell Power and Foxwell Certification recognised compensation cost due to employee stock options for the year ended December 31, 2024, and the Company recognised capital surplus proportionately to ownership amounting to $1,347.

H. In May 2024, the Company’s second-tier subsidiary, Foxwell Certification, increased its capital by issuing new shares, and reserved shares for employees’ subscription in accordance with regulations. Accordingly, the Company’s shareholding ratio decreased to 95.5%, and recognised capital surplus proportionately to ownership amounting to $118.

I. In January 2025, the Company’s sub-subsidiary, Shinfox Energy Co., Ltd., acquired a 50% equity interest in Synergy Co., Ltd. for $800,010, increasing the total ownership of the Company and Shinfox Energy to 52.3%, thereby making Synergy Co., Ltd. a subsidiary of the Company. As a result of the remeasurement required under accounting standards, the Company recognized a gain on disposal of investment of $3,274 (recorded as “Other Gains and Losses - Gain on Disposal of Investment”) and a decrease in capital surplus of $2,477.

J. Changes of the capital surplus of Sharetronic Data Technology Co., Ltd. amounting to $15,904 were recognized by Power Channel Limited, the investee accounted for under equity method of the Company for the year ended December 31, 2025.

K. For the year ended December 31, 2025, due to the change of ownership interests in the subsidiaries of the Company’s sub-subsidiary, Shinfox Energy Co., Ltd., the Company recognised capital surplus according to shareholding ratio amounting to $1,453,120.

L. Since the Company’s sub-subsidiary, Shinfox Energy Co., Ltd., recognized the compensation cost due to the employee stock options in 2025, the Company recognised capital surplus according to shareholding ratio amounting to $26,623.

M. On June 14, 2024, the Company’s sub-subsidiary, Shinfox Energy Co., Ltd., jointly established UbiLink AI Co., Ltd. with an amount of $10,000 with the Company’s parent company, Cheng Uei Precision Industry Co., Ltd., and Ubitus Kabushiki Kaisha (Japan). The Company’s shareholding ratio is 10%. Subsequently, UbiLink AI Co., Ltd. was renamed as Ubilink.AI CO., Ltd. on November 8, 2024. Shinfox Energy participated in the capital increase with an amount of $16,400 of Ubilink.AI CO., Ltd. on July 4, 2025. After the capital increase, the shareholding ratio was adjusted from 10% to 13.2%. Shinfox Energy and the parent company held 13.20% and 53.75% of the shares of Ubilink AI CO., Ltd., respectively. Therefore, the Company is assessed to have significant influence over Ubilink AI CO., Ltd. The aforesaid transaction resulted in an adjustment of ($2,576) in changes of capital surplus.

N. Fuchin Energy Technology Co., Ltd. resolved at the Board of Directors’ meeting held on July 27, 2025 to conduct a cash capital increase through the issuance of new shares, with August 28, 2025 as the record date for the capital increase. The Company’s sub-subsidiary, Foxwell Power, did not subscribe in proportion to its shareholding, and its ownership interest decreased by 10%. The aforesaid transaction resulted in an adjustment of $113 in changes of capital surplus.

O. For the year ended December 31, 2025, the Company’s subsidiary, Foxlink Image Technology Co.,

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Ltd., did not participate in the capital increase of Shinfox Energy in proportion to its interests, Foxlink Image decreased its share interests to 37.49%. The abovementioned transaction resulted in an adjustment of ($879,583) in changes of capital surplus.

(4) Intangible assets

| | 2025
Software | 2024
Software |
| --- | --- | --- |
| At January 1 | | |
| Cost | $ 1,806 | $ 1,806 |
| Accumulated amortisation and impairment | ( 1,003) | ( 401) |
| | $ 803 | $ 1,405 |
| Opening net book amount as at January 1 | $ 803 | $ 1,405 |
| Amortisation charge | ( 602) | ( 602) |
| At December 31 | $ 201 | $ 803 |
| At December 31 | | |
| Cost | $ 1,806 | $ 1,806 |
| Accumulated amortisation and impairment | ( 1,605) | ( 1,003) |
| | $ 201 | $ 803 |
| Details of amortisation on intangible assets are as follows: | | |
| | 2025 | 2024 |
| General and administrative expenses | $ 602 | $ 602 |

(5) Pensions

The Company has established a defined contribution pension plan (the "New Plan") under the Labor Pension Act (the "Act"), covering all regular employees with R.O.C. nationality. Under the New Plan, the Company contributes monthly an amount based on 6% of the employees' monthly salaries and wages to the employees' individual pension accounts at the Bureau of Labor Insurance. The benefits accrued are paid monthly or in lump sum upon termination of employment. The pension costs under defined contribution pension plans of the Company for the years ended December 31, 2025 and 2024, were $182 and $202, respectively.

(6) Short-term borrowings

Type of borrowings	December 31, 2025	Interest rate range	Collateral
Bank borrowings
Unsecured borrowings	$ 768,000	2.01%~2.08%	None
Type of borrowings	December 31, 2024	Interest rate range	Collateral
Bank borrowings
Unsecured borrowings	$ 75,000	1.95%	None

(7) Short-term notes payable

	December 31, 2025	December 31, 2024
Commercial papers	$ 100,000	$ 100,000
Discount amortisation	( 66)	( 11)
	$ 99,934	$ 99,989
Annual interest rate range	2.01%	2.02%

(8) Long-term borrowings

Type of borrowings	Borrowing period and repayment term	Interest rate range	Undrawn borrowing facilities	December 31, 2025
Long-term bank borrowings -including covenants
Unsecured borrowings	Borrowing period is from December 2025 to December 2027; principal is repayable in full amount at the maturity date; interest is repayable monthly.	2.16%	$ -	$ 200,000
Unsecured borrowings	Borrowing period is from January 2025 to January 2027; principal is repayable in full amount at the maturity date; interest is repayable monthly.	2.20%	-	300,000
-without covenants
Unsecured borrowings	Borrowing period is from September 2025 to September 2028; principal is repayable in full amount at the maturity date; interest is repayable monthly.	2.23%	-	300,000

Type of borrowings	Borrowing period and repayment term	Interest rate range	Undrawn borrowing facilities	December 31, 2025
Long-term bank borrowings -without covenants
Unsecured borrowings	Borrowing period is from May 2023 to May 2027; principal is repayable in full amount at the maturity date; interest is repayable monthly.	2.23%	$ -	$ 300,000
Unsecured borrowings	Borrowing period is from December 2024 to December 2027; principal is repayable in full amount at the maturity date; interest is repayable monthly.	1.98%	150,000	350,000
				1,450,000
				( 300,000)
				$ 1,150,000

Less: Current portion (shown as other current liabilities)

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Type of borrowings	Borrowing period and repayment term	Interest rate range	Undrawn borrowing facilities	December 31, 2024
Long-term bank borrowings -including covenants
Unsecured borrowings	Borrowing period is from October 2024 to October 2026; principal is repayable in full amount at the maturity date; interest is repayable monthly.	2.04%	$ -	$ 300,000
Unsecured borrowings	Borrowing period is from November 2024 to November 2026; principal is repayable in full amount at the maturity date; interest is repayable monthly.	2.10%	-	200,000
Unsecured borrowings	Borrowing period is from November 2024 to November 2026; principal is repayable in full amount at the maturity date; interest is repayable monthly.	2.20%	-	300,000

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Type of borrowings	Borrowing period and repayment term	Interest rate range	Undrawn borrowing facilities	December 31, 2024
Long-term bank borrowings -without covenants
Unsecured borrowings	Borrowing period is from December 2024 to December 2027; principal is repayable in full amount at the maturity date; interest is repayable monthly.	1.95%	$ -	$ 500,000
Unsecured borrowings	Borrowing period is from May 2023 to May 2027; principal is repayable in full amount at the maturity date; interest is repayable monthly.	2.23%	-	300,000
Unsecured borrowings	Borrowing period is from September 2024 to September 2027; principal is repayable in full amount at the maturity date; interest is repayable monthly.	2.23%	-	300,000
				$ 1,900,000

A. The Company entered into the borrowing contracts with Bank SinoPac, Entie Commercial Bank, Ltd., Yuanta Commercial Bank Co., Ltd., and Far Eastern International Bank, and the total credit line is $1,800,000. As of December 31, 2025, the borrowings that have been used amounted to $500,000. In the duration period of these contracts, the financial ratios in the semi-annual consolidated and annual consolidated financial statements shall be as follows:

(a) Current assets to current liabilities ratio of at least 100%;
(b) Liabilities not exceeding 200% of tangible net equity;
(c) Interest coverage of at least 300% to 500%;
(d) Tangible net equity of at least NT$5,000,000 thousand to NT$ 8,000,000 thousand.

B. According to the borrowing contract entered into by the Company with Yuanta Bank, the Company's sub-subsidiary, Power Quotient International Co., Ltd., shall annually review the financial ratios in the financial statements to maintain the net assets not less than $1,800,000 and the net debt-to-equity ratio not higher than 110% during the loan period. As of December 31, 2025, Power Quotient International Co., Ltd failed to comply with the requirements specified in the abovementioned contract. The Company's amount of the borrowing had been reclassified as current liabilities. As of March 30, 2026, the bank did not require the Company to repay the borrowing earlier. As of December 31, 2024, the Company did not violate the terms of the contract with the abovementioned bank.

(9) Share capital

As described in Note 1, the Company acquired 100% of the shares of Glory Science, PQI and Foxlink Image through share swap by exchanging 1 common share of Glory Science into 1 common share of the Company, 1 common share of PQI converted to 0.194 common share of the Company and 1 common share of Foxlink Image converted to 0.529 common share of the Company. As of December 31, 2025, the Company's authorised capital was $3,000,000, consisting of 300,000 thousand shares of ordinary stock (including 30,000 thousand shares reserved for employee stock options), and the paid-in capital was $2,462,421 with a par value of $10 (in dollars) per share. Ordinary shares outstanding at December 31, 2024 amounted to 246,242 thousand shares.

(10) Capital surplus

	2025
	Share premium	Difference between consideration and carrying amount of subsidiaries acquired or disposed	Changes in ownership interests in subsidiaries	Net change in equity of associates	Total
At January 1	$ 3,290,571	$ 222,102	$ 1,398,277	$ 216,257	$ 5,127,207
Changes in ownership interests in subsidiaries	-	-	573,537	-	573,537
Recognition of change in equity of associates in proportion to the Group's	-	-	-	13,441	13,441
Disposal of investments accounted for using the equity method	-	-	-	( 2,477)	( 2,477)
Compensation cost	-	-	26,623	-	26,623
At December 31	$ 3,290,571	$ 222,102	$ 1,998,437	$ 227,221	$ 5,738,331

	2024
	Share premium	Difference between consideration and carrying amount of subsidiaries acquired or disposed	Changes in ownership interests in subsidiaries	Net change in equity of associates	Total
At January 1	$3,413,692	$222,102	$1,182,413	$185,835	$5,004,042
Capital surplus used to issue cash to shareholders	(123,121)	-	-	-	(123,121)
The Company did not participate in the capital increase raised by a subsidiary proportionally to its interest to the subsidiary	-	-	118	-	118
Subsidiary issued convertible bonds	-	-	214,399	-	214,399
Recognition of change in equity of associates in proportion to the Group's	-	-	-	27,946	27,946
The Company did not participate in the capital increase raised by associates proportionally to its interest to the associates	-	-	-	2,476	2,476
Compensation cost	-	-	1,347	-	1,347
At December 31	$3,290,571	$222,102	$1,398,277	$216,257	$5,127,207
A. In accordance with IFRS Q&A issued by the Accounting Research and Development Foundation (ARDF) on October 26, 2018 and ARDF Interpretation 100-390, as described in Note 4, the share swap transactions between the Company and Glory Science were considered as a reorganisation under common control on October 1, 2018.
B. Pursuant to the R.O.C. Company Act, capital surplus arising from paid-in capital in excess of par value on issuance of common stocks and donations can be used to cover accumulated deficit or to issue new stocks or cash to shareholders in proportion to their share ownership, provided that the Company has no accumulated deficit. Further, the R.O.C. Securities and Exchange Act requires that the amount of capital surplus to be capitalised mentioned above should not exceed 10% of the paid-in capital each year. Capital surplus should not be used to cover accumulated deficit unless the legal reserve is insufficient.
C. Details of the Company’s changes in capital surplus in 2025 and 2024 are shown in Note 6(3).

(11) Retained earnings

A. Under the Company’s Articles of Incorporation, the current year’s earnings, if any, shall first be used to pay all taxes and offset prior years’ operating losses and then 10% of the remaining amount shall be set aside as legal reserve until the legal reserve equals the paid-in capital. The remaining earnings shall be proposed by the Board of Directors and resolved by the shareholders as dividends to shareholders.

According to the Company’s dividend policy, no more than 90% of the distributable retained earnings shall be distributed as shareholders’ bonus and cash dividend distributed in any calendar year shall be at least 20% of the total distributable earnings in that year based on future capital expenditures budget and capital requirements.

B. Except for covering accumulated deficit or issuing new stocks or cash to shareholders in proportion to their share ownership, the legal reserve shall not be used for any other purpose. The use of legal reserve for the issuance of stocks or cash to shareholders in proportion to their share ownership is permitted, provided that the distribution of the reserve is limited to the portion in excess of 25% of the Company’s paid-in capital.

C. In accordance with Article 211 of the Company Act, in case the loss incurred by a company aggregates to one half of its paid-in capital, the Board of Directors should report it at the latest shareholders’ meeting.

D. Special reserve

(a) In accordance with the regulations, the Company shall set aside special reserve from the debit balance on other equity items at the balance sheet date before distributing earnings. When debit balance on other equity items is reversed subsequently, the reversed amount could be included in the distributable earnings.

(b) As described in Note 4(2), the Company is substantially a continuation of Glory Science. Therefore, the amount previously set aside by the Company as special reserve in accordance with Order No. Financial-Supervisory-Securities-Corporate-1010012865, dated April 6, 2012, shall be the same as the amount reclassified from accumulated translation adjustment under shareholders’ equity to retained earnings for the exemptions elected by the Company. The increase in special reserve as a result of retained earnings arising from the adoption of IFRS amounted to $8,361 thousand.

E. The appropriation of 2024 and 2023 earnings as proposed and resolved by the shareholders on May 28, 2025 and May 27, 2024, respectively. are as follows:

	2024		2023
	Amount	Dividends per share (in dollars)	Amount	Dividends per share (in dollars)
Legal reserve	$ 113,399		$ 15,005
Special reserve	-		(290,674)
Cash dividends	738,726	$ 3.00	369,363	$ 1.50

For the information relating to the distribution of earnings as approved by the Board of shareholders, please refer to the “Market Observation Post System” at the website of the Taiwan Stock Exchange.

(12) Expenses by nature

	Year ended December 31
	2025	2024
Employee benefit expense
Wages and salaries	$ 6,057	$ 9,000
Directors’ remuneration	1,800	12,245
Labour and health insurance fees	616	520
Pension costs	182	202
Other personnel expenses	223	304
	$ 8,878	$ 22,271

A. In accordance with the Articles of Incorporation of the Company, a ratio of distributable profit of the current year, after covering accumulated losses, shall be distributed as employees’ compensation and directors’ and supervisors’ remuneration. The ratio shall not be lower than 6% for employees’ compensation and shall not be higher than 3% for directors’ and supervisors’ remuneration.

B. For the years ended December 31, 2025 and 2024, employees’ compensation was accrued at $0 and $73,000, respectively; while directors’ and supervisors’ remuneration was accrued at $0 and $10,695, respectively. The aforementioned amounts were recognised in salary expenses.

C. Employees’ compensation and directors’ remuneration of 2024 as resolved by the Board of Directors were in agreement with those amounts recognized in the 2024 financial statements, and were distributed in the form of cash.

D. Information about employees’ compensation and directors’ remuneration of the Company as resolved at the meeting of Board of Directors will be posted in the “Market Observation Post System” at the website of the Taiwan Stock Exchange.

(13) Income tax

A. Income tax (benefit) expense

(a) Components of income tax (benefit) expense:

	Year ended December 31
	2025	2024
Current tax:
Current tax on profits for the year	($ 175,578)	$ -
Prior year income tax underestimation	68	271
Income tax (benefit) expense	($ 175,510)	$ 271

B. Reconciliation between income tax (benefit) expense and accounting profit

	Year ended December 31
	2025	2024
Tax calculated based on profit before tax and statutory tax rate	($ 1,160,247)	$ 224,868
Tax exempt income by tax regulation	1,137,781	(224,868)
Prior year income tax underestimation	68	271
Prior year loss carryforward income tax	(153,112)	-
Income tax (benefit) expense	($ 175,510)	$ 271

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

December 31, 2025
Year incurred	Amount filed/ assessed	Unused amount	Unrecognised deferred tax assets	Expiry year
2022	$ 2,210,924	$ 996,448	$ 996,448	2032
December 31, 2024
Year incurred	Amount filed/ assessed	Unused amount	Unrecognised deferred tax assets	Expiry year
2022	$ 2,210,924	$ 1,762,008	$ 1,762,008	2032

D. The Company's income tax returns through 2021 have been assessed and approved by the Tax Authority.

(14) (Loss) earnings per share

	Year ended December 31, 2025
	Amount after tax	Weighted average number of ordinary shares outstanding (share in thousands)	Loss per share (in dollars)
Basic (diluted) loss per share
Loss attributable to ordinary shareholders of the parent	($ 5,625,725)	246,242	($ 22.85)
	Year ended December 31, 2024
	Amount after tax	Weighted average number of ordinary shares outstanding (share in thousands)	Earnings per share (in dollars)
Basic earnings per share
Profit attributable to ordinary shareholders of the parent	$ 1,124,070	246,242	$ 4.56
Diluted earnings per share
Profit attributable to ordinary shareholders of the parent	$ 1,124,070	246,242
Assumed conversion of all dilutive potential ordinary shares
Employees’ compensation	-	1,316
Profit attributable to ordinary shareholders of the parent plus assumed conversion of all dilutive potential ordinary shares	$ 1,124,070	247,558	$ 4.54

For the year ended December 31, 2025, the employee compensation was anti-dilutive and therefore was not included in the calculation of diluted earnings per share.

Related Party Transactions

(1) Names of related parties and relationship

Names of related parties	Relationship with the Company
Cheng Uei Precision Industry Co., Ltd. (Cheng Uei)	Ultimate parent
Foxlink International Investment (FII)	Subsidiary of the ultimate parent
Foxlink Taiwan Industry Co., Ltd. (Foxlink Taiwan)	The Company’s directors
Shin Hon International Investment Co., Ltd. (Shin Hon)	The Company’s directors
Foxlink Image Technology Co., Ltd. (Foxlink Image)	Subsidiary of the Company
Power Quotient International Co., Ltd. (PQI)	Subsidiary of the Company
Glory Science Co., Ltd. (Glory Science)	Subsidiary of the Company
Shinfox Energy Co. Ltd. (Shinfox)	Subsidiary of the Company
Glory Optics (Yancheng) Co., Ltd. (GOYC)	Subsidiary of the Company
Glorytek (Yancheng) Co., Ltd. (Glorytek Yancheng)	Subsidiary of the Company

(2) Significant related party transactions

A. Receivables from related parties:

	December 31, 2025	December 31, 2024
Other receivables
Foxlink Image	$ 135,258	$ 388
Glory Science	68,552	236
	$ 203,810	$ 624

Other receivables represent collections from subsidiaries for filing consolidated tax returns.

B. Payables to related parties:

	December 31, 2025	December 31, 2024
Other payables
Foxlink Image	$ 1,714	$ 1,545
Glory Science	291	308
PQI	191	418
The Company’s directors	60	60
Subsidiary of the ultimate parent	20	20
Cheng Uei	12	12
	$ 2,288	$ 2,363

Other payables mainly represent income tax amounts collected on behalf of subsidiaries for consolidated tax return filings, directors' remuneration payable, and amounts payable for advances made on behalf of the Company.

C. Operating expenses:

	Year ended December 31, 2025	Year ended December 31, 2024
Rental expense:
Ultimate parent	$ 24	$ 26

The payments of the transactions between the Company and the abovementioned related parties are calculated based on the actual amount incurred and paid monthly.

D. Endorsements and guarantees provided to related parties: Please refer to Note 13(1).2.

(3) Key management compensation

None.

Pledged Assets

None.

Significant Contingent Liabilities and Unrecognised Contract Commitments

(1) Contingencies

None.

(2) Commitments

Information on endorsement/guarantee of the Company is provided in Note 13(1).2.

~42~

10. Significant Disaster Loss

None.

11. Significant Events after the Balance Sheet Date

A. To expand the business in the market in Mainland China and strengthen the competitiveness, the Board of Directors of the Company’s sub-subsidiary, Foxwell Power, on January 21, 2026 adopted a resolution to acquire 100% equity interest in Chengdu Xinfuwei Energy Co., Ltd., which was held by the Company’s sub-subsidiary, Shinfox Energy, for $124,938.

B. To increase the working capital and introduce strategic investors, the Board of Directors of the Company’s sub-subsidiary, Foxwell Power, on March 3, 2026 adopted a resolution to raise additional cash through private placement. Within the limit of 15,000 thousand shares and depending on the capital market conditions, the Board of Directors was authorised to increase the capital by issuing ordinary shares through private placement, in full or installments, starting from the day of shareholders’ meeting within one year.

C. The sole director of the Company’s sub-subsidiary, ZhiShin Energy, on December 10, 2025 adopted a resolution to increase its capital by issuing 399 thousand new shares with a par value of NT$10 (in dollars) per share. The effective date was set on January 6, 2026. The Company’s sub-subsidiary, Foxwell Power, participated in the abovementioned capital increase.

D. The Board of Directors of the Company’s sub-subsidiary, Synergy, on January 21, 2026 adopted a resolution to acquire 100% equity interest in Fox Nam Energy Co., Ltd. and 35% equity interest in Dakpsi Investment and Develop Hydroelectric Stock Company, which were originally held by the Company’s sub-subsidiary, Shinfox Energy. The estimated investment amount was $113,400 and $642,600, respectively.

E. To increase the working capital, the sole director of the Company’s sub-subsidiary, Foxwell Power, on December 24, 2025 adopted a resolution to increase its capital by issuing 130,000 thousand new shares with a par value of NT$10 (in dollars) per share, of which 70,000 thousand shares and 60,000 thousand shares were set effective on December 25, 2025 and February 11, 2026, respectively. As of March 30, 2026, the registration of 60,000 thousand shares has not been completed.

F. The Board of Directors of the Company’s sub-subsidiary, Foxwell Power, on March 10, 2026 adopted a resolution to increase its capital by issuing 70,000 thousand new shares with a par value of NT$10 (in dollars) per share. The effective date was set on March 14, 2026. As of March 30, 2026, the registration has not been completed.

G. Considering the overall operations of the Phase II of the offshore construction plan and the performance risk control, the Board of Directors of the Company’s sub-subsidiary, Foxwell Power, on March 30, 2026 adopted a resolution to adjust the total budget costs of the project in order to ensure smooth construction progress since Foxwell Energy assessed that the estimated total costs would increase significantly.

H. To revitalize capital and improve the efficiency of capital utilization, the Board of Directors of the Company’s sub-subsidiary, Shinfox Energy, on February 3, 2026 adopted a resolution to sell up to

10,000 shares of ordinary shares of the Company’s sub-subsidiary, Foxwell Power.

I. To increase the working capital and introduce strategic investors, the Board of Directors of the Company’s sub-subsidiary, Shinfox Energy, on March 30, 2026 adopted a resolution to raise additional cash through private placement. Within the limit of 93,750 thousand shares and depending on the capital market conditions, the Board of Directors was authorised to increase the capital by issuing ordinary shares through private placement, in full or installments, starting from the day of shareholders’ meeting within one year.

J. On January 7, 2025, the Company’s sub-subsidiary, SFE, entered into a ship conversion contract with a third-party shipyard. As of December 31, 2025, there was an unpaid balance of USD$2,820 thousand. Due to the factors such as changes in ship design, both parties entered into the supplementary settlement on January 5, 2026. The total consideration of the supplemental agreement amounted to US$12,401 thousand, which had not been paid. According to the contract, SFE should pay the remaining amount before the end of January 2026. As of March 30, 2026, SFE received a letter from the lawyer appointed by the shipyard, claiming that SFE did not pay the amount of approximately US$15,221 thousand according to the contract and requesting the default interest calculated at 6% per annum from February 1, 2026 as stipulated in the contract. In addition, the letter also stated that if SFE failed to fulfill its payment obligations within the deadline, the shipyard would commence arbitration or other legal proceedings to pursue relevant responsibilities. Since both parties are still in the stage of negotiation, the final result remains uncertain and the related effect cannot be estimated.

K. Since the Company’s sub-subsidiary, SFE, did not pay the certain amount related to the ship, the relevant creditors filed for a provisional attachment of the operation support ship held by SFE in accordance with Paragraph 1 of Article 114 of the Enforcement Law with the Taiwan Taichung District Court. As of March 30, 2025, SFE is negotiating with the creditors regarding settlement and the release of the attachment on the ship. The final negotiation result remains uncertain. However, SFE has assessed the nature and the amount of obligation for the related debt based on available information and recognized the most likely amount as the related accounts payable and expenses.

Others

(1) Capital management

The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern in order to provide returns for shareholders and to maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or use the working capital effectively to reduce debt.

(2) Financial instruments

A. Financial instruments by category

~43~

~44~

	December 31, 2025	December 31, 2024
Financial assets
Financial assets at amortised cost
Financial assets at fair value through other comprehensive income
Designation of equity instrument	$ 210,529	$ 210,529
Financial assets at amortised cost
Cash and cash equivalents	$ 272,035	$ 35,799
	December 31, 2025	December 31, 2024
Financial liabilities
Financial liabilities at amortised cost
Short-term borrowings	$ 768,000	$ 75,000
Short-term notes and bills payable	99,934	99,989
Other accounts payable(including related parties)	17,154	100,330
Long-term borrowings(including current portion)	1,450,000	1,900,000
	$ 2,335,088	$ 2,175,319

B. Financial risk management policies

The Company’s activities expose it to a variety of financial risks: market risk (including foreign exchange risk and interest rate risk), credit risk and liquidity risk.

The Company’s overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the Company’s financial position and financial performance.

C. Significant financial risks and degrees of financial risks

(a) Market risk

Exchange rate risk

i. The Company’s foreign exchange rate risk mainly arises from recognised assets and liabilities.

ii. The Company's businesses involve some non-functional currency operations. The information on assets and liabilities denominated in foreign currencies whose values would be materially affected by the exchange rate fluctuations is as follows:

	December 31, 2025
	Foreign currency amount (In thousands)	Exchange rate	Book value (NTD)
(Foreign currency: functional currency)
Financial assets
Monetary items
RMB:NTD	$ 6,956	4.4716	$ 31,103
	December 31, 2024
	Foreign currency amount (In thousands)	Exchange rate	Book value (NTD)
(Foreign currency: functional currency)
Financial assets
Monetary items
RMB:NTD	$ 6,844	4.4780	$ 30,647

iii. The total exchange (loss) gain, including realised and unrealised, arising from significant foreign exchange variation on the monetary items held by the Company for the years ended December 31, 2025 and 2024, amounted to $3,244 and $1,015, respectively.

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

	Year ended December 31, 2025
	Sensitivity analysis
	Degree of variation	Effect on profit or loss before tax	Effect on other comprehensive income
(Foreign currency: functional currency)
Financial assets
Monetary items
RMB:NTD	1%	311	$ -

~46~

Year ended December 31, 2024

	Sensitivity analysis
	Degree of variation	Effect on profit or loss before tax	Effect on other comprehensive income
(Foreign currency: functional currency)
Financial assets
Monetary items
RMB:NTD	1%	306	$

Price risk

i. The Company’s equity securities, which are exposed to price risk, is the held financial assets at fair value through other comprehensive income. To manage its price risk arising from investments in equity securities, the Company diversifies its portfolio. Diversification of the portfolio is done in accordance with the limits set by the Company.

ii. The Company’s investments in equity securities. The prices of equity securities would change due to the change of the future value of investee companies. If the prices of these equity securities had increased/decreased by 1% with all other variables held constant, other components of equity would have increased/decreased by $1,684 and $1,684, respectively, as a result of other comprehensive income on equity investment classified as at fair value through other comprehensive income.

Cash flow and fair value Interest rate risk

i. The Company’s main interest rate risk arises from long-term borrowings with variable rates, which expose the Company to cash flow interest rate risk. During 2025 and 2024, the Company’s borrowings at variable rate were mainly denominated in New Taiwan dollars.

ii. If interest rate of had increased/decreased by 0.1% or with all other variables held constant, profit, net of tax for the years ended December 31, 2025 and 2024 would have increased/decreased by $1,854 and $1,660, respectively. The main factor is that changes in interest expense result in floating-rate borrowings.

(b) Credit risk

Credit risk refers to the risk of financial loss to the Company arising from default by the counterparties of financial instruments on the contract obligations. Credit risk arises from cash and cash equivalents and deposits with banks and financial institutions. For banks and financial institutions, only independently rated parties with a good credit rating are accepted.

(c) Liquidity risk

i. Cash flow forecasting is performed in the Company. Company treasury monitors rolling forecasts of the Company’s liquidity requirements to ensure it has sufficient cash to meet operational needs so that the Company does not breach agreement related to liabilities.

ii. The table below analyses the Company's non-derivative financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows.

Non-derivative financial liabilities

December 31, 2025	Less than 1 year	Between 2 and 5 years	Over 5 years
Short-term borrowings	$ 768,739	$ -	$ -
Short-term notes and bills payable	100,000	-	-
Other payables(including related parties)	17,154	-	-
Long-term borrowings	331,206	1,174,605	-
	$ 1,217,099	$ 1,174,605	$ -
December 31, 2024	Less than 1 year	Between 2 and 5 years	Over 5 years
Short-term borrowings	$ 76,218	$ -	$ -
Short-term notes and bills payable	100,000	-	-
Other payables(including related parties)	100,330	-	-
Long-term borrowings	40,008	1,953,950	-
	$ 316,556	$ 1,953,950	$ -

(3) Fair value information

A. The different levels that the inputs to valuation techniques are used to measure fair value of financial and non-financial instruments have been defined as follows:

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date. A market is regarded as active where a market in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. The fair value of the Company's investment in is included in Level 1.

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3: Unobservable inputs for the asset or liability. The fair value of the Company's investment in is included in Level 3.

B. Except for those listed in the table below, the carrying amounts of cash and cash equivalents, other receivables, short-term borrowings, other payables are approximate to their fair values.

C. The related information of financial and non-financial instruments measured at fair value by level on the basis of the nature, characteristics and risks of the assets and liabilities at December

31, 2025 and 2024 is as follows:

December 31, 2025	Level 1	Level 2	Level 3	Total
Assets
Recurring fair value measurements
Financial assets at fair value through other comprehensive income
Equity securities	$ -	$ -	$ 210,529	$ 210,529
December 31, 2024	Level 1	Level 2	Level 3	Total
Assets
Recurring fair value measurements
Financial assets at fair value through other comprehensive income
Equity securities	$ -	$ -	$ 210,529	$ 210,529

D. For the years ended December 31, 2025 and 2024, there was no transfer between Level 1 and Level 2.

E. Treasury segment is in charge of valuation procedures for fair value measurements being categorised within Level 3, which is to verify independent fair value of financial instruments. Such assessment is to ensure the valuation results are reasonable by applying independent information to make results close to current market conditions, confirming the resource of information is independent, reliable and in line with other resources and represented as the exercisable price, and frequently calibrating valuation model, performing back-testing, updating inputs used to the valuation model and making any other necessary adjustments to the fair value.

F. The following is the qualitative information of significant unobservable inputs and sensitivity analysis of changes in significant unobservable inputs to valuation model used in Level 3 fair value measurement:

	Fair value at December 31, 2025	Valuation technique	Significant unobservable input	Range (weighted average)	Relationship of inputs to fair value
Non-derivative equity instrument:
Unlisted shares	$ 210,529	Net asset value	Not applicable	-	Not applicable
	Fair value at December 31, 2024	Valuation technique	Significant unobservable input	Range (weighted average)	Relationship of inputs to fair value
Non-derivative equity instrument:
Unlisted shares	$ 210,529	Net asset value	Not applicable	-	Not applicable

13. Supplementary Disclosures

(1) Significant transactions information

A. Loans to others: Please refer to table 1.
B. Provision of endorsements and guarantees to others: Please refer to table 2.
C. Holding of significant marketable securities at the end of the period (not including subsidiaries, associates and joint ventures): Please refer to table 3.
D. Purchases or sales of goods from or to related parties reaching $100 million or 20% of paid-in capital or more: Please refer to table 4.
E. Receivables from related parties reaching $100 million or 20% of paid-in capital or more: Please refer to table 5.
F. Significant inter-company transactions during the reporting periods: Please refer to table 6.

(2) Information on investees

Names, locations and other information of investee companies (not including investees in Mainland China): Please refer to table 7.

(3) Information on investments in Mainland China

A. Basic information: Please refer to table 8.
B. Significant transactions conducted with investees in Mainland China directly or indirectly through other companies in the third areas

(a) The amount and percentage of purchases and the balance and percentage of the related payables at the end of the period: Please refer to Note 13(1) F.
(b) The amount and percentage of sales and the balance and percentage of the related receivables at the end of the period: Please refer to Note 13(1) F.
(c) The amount of property transactions and the amount of the resulting gains or losses: None.

(d) Balance and purpose of provision of endorsements/guarantees or collaterals at December 31, 2025: Please refer to 13(1) B.

(e) Maximum balance, ending balance, interest rate range and interest for financing during the year ended and as at December 31, 2025: Please refer to Note 13(1) A.

(f) Other significant transactions that affected the gains and losses or financial status for the period, i.e. rendering/receiving of service: None.

Segment Information

None.

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FIT HOLDING CO., LTD.

Loans to others

Year ended December 31, 2025

Expressed in thousands of NTD

(Except as otherwise indicated)

Table 1

No.	Creditor	Borrower	General ledger account	Is a related party	Maximum outstanding balance during the year ended December 31, 2025	Balance at December 31, 2025	Actual amount drawn down	Interest rate	Nature of loan (Note 1)	Amount of transactions with the borrower	Reason for short-term financing	Allowance for doubtful accounts	Collateral	Limit on loans granted to a single party (Note 2)	Ceiling on total loans granted	Footnote
1	Foxlink Image Technology Co., Ltd.	Glorytek (Yancheng) Co., Ltd.	Other receivables	Y	$ 182,920	$ 178,864	$ 178,864	3.00%	2	-	Operations	-	-	$ 1,189,338	$ 1,189,338
2	Glorytek (Suzhou) Co., Ltd.	Glorytek (Yancheng) Co., Ltd.	Other receivables - related parties	Y	228,650	223,580	159,189	3.00%	2	-	Operations	-	-	392,925	392,925
3	Power Quotient Technology (YANCHENG) Co., Ltd.	Glorytek (Yancheng) Co., Ltd.	Other receivables	Y	228,650	223,580	223,580	3.00%	2	-	Group capital movement	-	-	751,628	751,628
3	Power Quotient Technology (YANCHENG) Co., Ltd.	Glory Optics (Yancheng) Co., Ltd.	Other receivables	Y	352,121	344,313	344,313	3.00%	2	-	Group capital movement	-	-	751,628	751,628
4	Dong Guan HanYang Computer Co., Ltd.	Glorytek (Yancheng) Co., Ltd.	Other receivables	Y	114,325	22,358	-	3.45%	2	-	Operations	-	-	404,242	404,242
4	Dong Guan HanYang Computer Co., Ltd.	Glory Optics (Yancheng) Co., Ltd.	Other receivables	Y	112,650	-	-	3.45%	2	-	Operations	-	-	404,242	404,242
5	Shinfox Energy Co., Ltd.	Shinfox Far East Company Pte. Ltd.	Other receivables - related parties	Y	2,000,000	2,000,000	2,000,000	1.98%	2	-	Group capital movement	-	-	561,058	561,058	Note 3
5	Shinfox Energy Co., Ltd.	Shinfox Far East (Taiwan) Company Pty Ltd.	Other receivables - related parties	Y	450,000	450,000	450,000	2.97%	2	-	Group capital movement	-	-	561,058	561,058	Note 3
6	Foxwell Energy Corporation Ltd.	Shinfox Far East Company Pte. Ltd.	Other receivables - related parties	Y	8,916,117	8,916,117	8,916,117	-	2	-	Group capital movement	-	-	3,065,965	3,065,965	Note 3
7	Synergy Co., Ltd.	Xinwei Power Corporation Ltd.	Other receivables - related parties	Y	10,000	10,000	10,000	3.50%	2	-	Group capital movement	-	-	636,625	636,625
8	Shinfox Natural Gas Co., Ltd.	Shinfox Far East Company Pte. Ltd.	Other receivables - related parties	Y	48,119	48,119	48,119	2.97%	2	-	Group capital movement	-	-	129,096	129,096

Note 1: Fill in the nature of the loan as follows:
(1) Business transaction is labelled as "1".
(2) Short-term financing is labelled as "2".

Note 2: The Company's and its subsidiaries' limits on loans to singal party and total loans are calculated based on the Company's and its subsidiaries' "Procedures for Provision of Loans".
(a) Total limit on loans granted to the companies having business relationship with the Company is $40\%$ of the Company's net assets, limit on loans granted to a single party is $150\%$ of the amount of business transactions between the creditor and borrower in the current year; the amount of business transactions means the higher between sales and purchases.
(b) Limit on total loans to parties with short-term financing is $40\%$ of the Company's net assets; but limit on loans to a single party is $30\%$ of the Company's net assets.
(c) Ceiling on total loans granted between foreign companies whose voting shares are $100\%$ held by the Company directly or indirectly, or on loans granted to the Company by such foreign companies is $100\%$ of their net asset value.
The total amount of loans granted to a single company should not exceed $100\%$ of the net assets. Financing period shall not be more than 3 years.
(d) Among the Company and the parent company or subsidiaries, or loans between the Company's subsidiaries, excluding the loans to others qualifying the abovementioned condition, (c), the authorised limit on the Company's or the Company's subsidiaries' loans to a singal party shall be lower than $10\%$ of the company's net assets based on the company's latest financial statements.
(e) Limit on total loans and individual limit on loans to others of the Company's subsidiaries are both under $40\%$ of the Company's net assets.

Note 3 : The applicable limits have been exceeded; the Company's sub-subsidiary, Shinfox Energy have, in accordance with the Procedures for Provision of Loans, formulated an improvement plan and intend to submit the plan to the Board of Directors.

Table 1 Page 1

FIT HOLDING CO., LTD.

Provision of endorsements and guarantees to others

Year ended December 31, 2025

Table 2

Expressed in thousands of NTD

(Except as otherwise indicated)

Number	Endorser/guarantor	Party being endorsed/guaranteed		Limit on endorsements/guarantees provided for a single party (Note 2)	Maximum outstanding endorsement/guarantee amount as of December 31, 2025	Outstanding endorsement/guarantee amount at December 31, 2025	Actual amount drawn down	Amount of endorsements/guarantees secured with collateral	Ratio of accumulated endorsement/guarantee amount to net asset value of the endorser/guarantor company	Ceiling on total amount of endorsements/guarantees provided	Provision of endorsements/guarantees by parent company to subsidiary	Provision of endorsements/guarantees by subsidiary to parent company	Provision of endorsements/guarantees to the party in Mainland China	Footnote
		Company name	Relationship with the endorser/guarantor (Note 1)
0	FIT Holding Co., Ltd.	Power Quotient International Co., Ltd.	2	$ 19,891,434	$ 2,960,000	$ 2,760,000	$ 2,260,000	$ -	83.25	$ 19,891,434	Y	N	N
0	FIT Holding Co., Ltd.	Glory Science Co., Ltd.	2	19,891,434	1,410,000	1,310,000	904,000	-	39.51	19,891,434	Y	N	N
0	FIT Holding Co., Ltd.	Glorytek (Yancheng) Co., Ltd.	2	19,891,434	137,190	-	-	-	-	19,891,434	Y	N	Y
1	Foxlink Image Technology Co., Ltd.	Power Quotient International Co., Ltd.	4	17,840,082	740,000	200,000	25,000	-	6.03	17,840,082	N	N	N
1	Foxlink Image Technology Co., Ltd.	Glory Science Co., Ltd.	4	17,840,082	440,000	-	-	-	-	17,840,082	N	N	N
2	Shinfox Energy Co. Ltd.	Foxwell Energy Corporation Ltd.	2	8,415,870	27,325,000	19,960,786	11,550,718	-	602.09	8,415,870	N	N	N	Note 3
2	Shinfox Energy Co. Ltd.	Kunshan Jiuwei Info Tech Co., Ltd.	2	8,415,870	68,595	67,074	50,207	-	2.02	8,415,870	N	N	Y
2	Shinfox Energy Co. Ltd.	Youde Wind Power Co., Ltd	2	7,854,812	700,000	700,000	560,000	-	21.11	8,415,870	N	N	N
2	Shinfox Energy Co. Ltd.	SFE Developer Company Corporation	2	7,854,812	4,980,750	4,714,500	4,714,500	-	142.21	8,415,870	N	N	N
2	Shinfox Energy Co. Ltd.	Shinfox Far East Company Pte.Ltd.	2	7,854,812	6,374,587	5,870,122	5,870,122	-	177.06	8,415,870	N	N	N
2	Shinfox Energy Co. Ltd.	Shinfox Far East (Taiwan) Company Pty Ltd.	2	7,854,812	1,830,000	1,420,000	920,000	-	42.83	8,415,870	N	N	N

Table 2 Page 1

Number	Endorser/ guarantor	Party being endorsed/guaranteed		Limit on endorsements/ guarantees provided for a single party (Note 2)	Maximum outstanding endorsement/ guarantee amount as of December 31, 2025	Outstanding endorsement/ guarantee amount at December 31, 2025	Actual amount drawn down	Amount of endorsements/ guarantees secured with collateral	Ratio of accumulated endorsement/ guarantee amount to net asset value of the endorser/ guarantor company	Ceiling on total amount of endorsements/ guarantees provided	Provision of endorsements/ guarantees by parent company to subsidiary	Provision of endorsements/ guarantees by subsidiary to parent company	Provision of endorsements/ guarantees to the party in Mainland China
		Company name	Relationship with the endorser/ guarantor (Note 1)
2	Shinfox Energy Co. Ltd.	Changpin Wind Power Ltd.	6	7,854,812	370,000	370,000	370,000	-	11.16	8,415,870	N	N	N
3	Smart Power System Co. Ltd.	BL ANAKJE SOLAR PTY LTD	6	321,071	40,541	40,541	40,541	-	1.22	642,142	N	N	N

Note 1: Relationship between the endorser/guarantor and the party being endorsed/guaranteed is classified into the following seven categories; fill in the number of category each case belongs to:
(1) Having business relationship.
(2) The endorser/guarantor parent company owns directly and indirectly more than $50\%$ voting shares of the endorsed/guaranteed subsidiary.
(3) The endorsed/guaranteed company owns directly and indirectly more than $50\%$ voting shares of the endorser/guarantor parent company.
(4) The endorser/guarantor parent company owns directly and indirectly more than $90\%$ voting shares of the endorsed/guaranteed company.
(5) Mutual guarantee of the trade made by the endorsed/guaranteed company or joint contractor as required under the construction contract.
(6) Due to joint venture, all shareholders provide endorsements/guarantees to the endorsed/guaranteed company in proportion to its ownership.
(7) Joint guarantee of the performance guarantee for pre-sold home sales contract as required under the Consumer Protection Act.

Note 2: Total limit or limit on loans to a singal party of the Company's and subsidiaries is calculated in accordance with the Company's "Procedures for Provision of Endorsements and Guarantees".

(1) Limit on total endorsements is $600\%$ of the Company's net asset.
(2) Limit on endorsements to a single party is $600\%$ of the Company's net asset.
(3) Limit on total endorsements granted by the Company and its subsidiaries is $600\%$ of the Company's net asset.
(4) Total limit on the Company's and its subsidiaries endorsement/guarantee to a singal party is $600\%$ of the Company's net assets and to the subsidiaries that the Company owned more than $90\%$ (included) voting shares is $600\%$ of the Company's net assets.
(5) For business transaction with the Company, the guarantee amount should not exceed $150\%$ of the amount of business transaction, which is the higher between sales and purchases.
(6) The companies whose voting rights are $90\%$ owned directly and indirectly by the Company can provide endorsement/guarantee each other with a limit of $10\%$ of the Company's net assets, but not available for the companies whose voting rights are $100\%$ owned directly and indirectly by the Company.
(7) The Company's subsidiary who prepared to provide endorsement/guarantee to others due to business transaction shall implement in accordance with the Company's procedures, and the calculation of the Company's net assets shall use the subsidiary's net assets.
(8) For subsidiaries whose shares are $90\%$ or above held by Shinfox Energy, the ceiling on the total amount of endorsements and guarantees provided by Shinfox Energy is $600\%$ of the Company's net asset value; the limit on endorsements and guarantees provided by Shinfox Energy for a single party other than the foregoing is $560\%$ of the Company's net asset value.
(9) For subsidiaries whose shares are $90\%$ or above held by Foxwell Energy, ceiling on total amount of endorsements and guarantees provided by the Company is $150\%$ of the Company's net asset value; limit on endorsements and guarantees provided by the Company for a single party is $140\%$ of the Company's net asset value.
(10) Smart Power System Co. Ltd.'s endorsements and guarantees to others and subsidiaries should not exceed $100\%$ of Smart Power System Co. Ltd.'s net asset value in the latest financial statements.

Note 3 : The applicable limits have been exceeded; the Company and its subsidiaries have, in accordance with the procedures for endorsements and guarantees, formulated an improvement plan and intend to submit the plan to the Board of Directors.

FIT HOLDING CO., LTD.

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

Year ended December 31, 2025

Table 3

Securities held by	Marketable securities	Relationship with the securities issuer	General ledger account	As of December 31, 2025				Footnote
				Number of shares (in thousands)	Book value	Ownership (%)	Fair value
FIT Holding Co., Ltd.	LeadsunFox Greenergy Investment Co., Ltd.	Not applicable	Financial assets at fair value through other comprehensive income-non-current	23,843	$ 210,529	12.00	$ 210,529	Not pledged as collateral
Foxlink Image Technology Co., Ltd.	Taiwan Mobile Co., Ltd.	Not applicable	Financial assets at fair value through other comprehensive income-non-current	1,631	176,909	0.04	176,909	Not pledged as collateral
Foxlink Image Technology Co., Ltd.	Central Motion Picture Corporation	Investee of the Company's parent company which is accounted for using equity method	Financial assets at fair value through other comprehensive income-non-current	4,294	225,393	4.00	225,393	Not pledged as collateral
Foxlink Image Technology Co., Ltd.	Cheng Uei Precision Industry Co., Ltd.	The Company's parent company	Financial assets at fair value through other comprehensive income-non-current	49,503	1,826,661	9.66	1,826,661	Not pledged as collateral
Power Quotient International Co., Ltd.	Taiwan Mobile Co., Ltd.	Not applicable	Financial assets at fair value through other comprehensive income-non-current	1,631	176,909	0.04	176,909	Not pledged as collateral
Shinfox Co., Ltd.	SEC INTERNATIONAL INC.	Not applicable	Financial assets at fair value through other comprehensive income-non-current	-	135,000	20.07	135,000	Not pledged as collateral

Note: The above disclosure standard is the carrying amount that reaches $100,000.

FIT HOLDING CO., LTD.

Purchases or sales of goods from or to related parties reaching $100 million or 20% of paid-in capital or more

For the year ended December 31, 2025

Expressed in thousands of NTD

(Except as otherwise indicated)

Table 4

Purchaser/seller	Counterparty	Relationship with the counterparty	Transaction				Differences in transaction terms compared to third party transactions		Notes/accounts receivable (payable)		Footnote
			Purchases (sales)	Amount	Percentage of total purchases (sales)	Credit term	Unit price	Credit term	Balance	Percentage of total notes/accounts receivable (payable)
Foxlink Image Technology Co., Ltd.	Wei Hai Fu Kang Electric Co., Ltd.	Affiliate	Purchases	$ 980,789	25.36%	Flexible collection, depending on the capital requirement	Mutual agreement	None	$ (454,193) (	40.62%)	Note 5
Shinfox Energy Co. Ltd.	Changpin Wind Power Ltd.	Joint venture	Sales	( 659,660) (	50.81%)	Note 1	Note 1	Note 1	2,415	0.04%	Note 3 - Note 5
Shinfox Energy Co. Ltd.	Youde Wind Power Co., Ltd.	Affiliate	Sales	( 431,172) (	33.21%)	Note 1	Note 1	Note 1	-	-	Note 4 - Note 5
Foxwell Energy Corporation Ltd.	SHINFOX FAR EAST COMPANY PTE. LTD.	Affiliate	Purchases	10,009,964	42.34%	Note 2	Note 2	Note 2	( 154,526) (	8.17%)	Note 5
Foxwell Power Co., Ltd.	Billion Sun Energy Storage Technologies Inc.	Affiliate	Sales	( 2,723,061) (	58.54%)	Note 2	Note 2	Note 2	571,500	57.00%	Note 5
SHINFOX FAR EAST COMPANY PTE. LTD.	SFE Hercules Company Corporation.	Affiliate	Purchases	1,061,103	6.49%	Note 2	Note 2	Note 2	( 543,786) (	14.86%)	Note 5
SHINFOX FAR EAST COMPANY PTE. LTD.	SFE Developer Company Corporation	Affiliate	Purchases	1,272,836	7.78%	Note 2	Note 2	Note 2	( 819,893) (	22.40%)	Note 5

Note 1: Please refer to Note 7(2) A. for the details.
Note 2: Transactions between subsidiaries are conducted at prices and with payment terms that are in line with market conditions or agreed upon with general customers.
Note 3 : Changpin Wind Power Ltd. has unfinished construction amounting to $744,824 with the Company's sub-subsidiary, Shinfox Energy.
Note 4: Youde Wind Power Co., Ltd. has unfinished construction amounting to $375,000 with the Company's sub-subsidiary, Shinfox Energy.
Note 5 : The relative related party in the same transaction will not be disclosed separately.

Table 4 Page 1

FIT HOLDING CO., LTD.
Receivables from related parties reaching $100 million or 20% of paid-in capital or more
Year ended December 31, 2025

Expressed in thousands of NTD
(Except as otherwise indicated)

Table 5

Creditor	Counterparty	Relationship with the counterparty	Balance as at December 31, 2025	Turnover rate	Overdue receivables		Amount collected subsequent to the balance sheet date	Allowance for doubtful accounts
					Maximum outstanding balance during the year ended December 31, 2025	Balance at December 31, 2025
FIT Holding Co., Ltd.	Foxlink Image Technology Co., Ltd.	Subsidiary	$ 135,258	Note 1	$ -	-	$ -	$ -
Foxlink Image Technology Co., Ltd.	Glorytek (Yancheng) Co., Ltd.	Affiliate	178,864	Note 1	-	-	-	-
Glorytek (Suzhou) Co., Ltd.	Glorytek (Yancheng) Co., Ltd.	Affiliate	178,057	Note 1	-	-	-	-
Dongguan Fu Wei Electronics Co., Ltd.	Foxlink Image Technology Co., Ltd.	Affiliate	616,304	1.01	-	-	47,155	-
Wei Hai Fu Kang Electric Co., Ltd.	Foxlink Image Technology Co., Ltd.	Affiliate	454,193	2.93	-	-	145,284	-
Dong Guan Fu Zhang Precision Industry	Foxlink Image Technology Co., Ltd.	Affiliate	103,518	1.76	-	-	18,095	-
Power Quotient Technology	Glory Optics (Yancheng) Co., Ltd.	Affiliate	344,313	Note 1	-	-	-	-
Power Quotient Technology	Glorytek (Yancheng) Co., Ltd.	Affiliate	223,580	Note 1	-	-	-	-
Shinfox Energy Co., Ltd.	SHINFOX FAR EAST COMPANY PTE. LTD.	Affiliate	2,004,882	Note 1	-	Overdue receivables from related parties are expected to be recovered gradually in 2026.	-	-
Shinfox Energy Co., Ltd.	SHINFOX FAR EAST (TAIWAN) COMPANY PTY LTD	Affiliate	450,000	Note 1	-	Overdue receivables from related parties are expected to be recovered gradually in 2026.	-	-
Foxwell Energy Corporation Ltd.	SHINFOX FAR EAST COMPANY PTE. LTD.	Affiliate	8,916,117	Note 1	-	Overdue receivables from related parties are expected to be recovered gradually in 2026.	-	-
Foxwell Power Co., Ltd.	Billion Sun Energy Storage Technologies Inc.	Affiliate	571,500	9.53	-	Not applicable	-	-
SHINFOX FAR EAST COMPANY PTE. LTD.	Foxwell Energy Corporation Ltd.	Affiliate	154,526	0.06	-	Overdue receivables from related parties are expected to be recovered gradually in 2026.	-	-
SFE Hercules Company Corporation.	SHINFOX FAR EAST COMPANY PTE. LTD.	Affiliate	543,786	168.52	-	Overdue receivables from related parties are expected to be recovered gradually in 2026.	-	-
SFE Developer Company Corporation	SHINFOX FAR EAST COMPANY PTE. LTD.	Affiliate	819,893	307.73	-	Overdue receivables from related parties are expected to be recovered gradually in 2026.	-	-

Note 1 : The turnover rate was not applicable as the receivables were recorded as other receivables.

FIT HOLDING CO., LTD.

Significant inter-company transactions during the reporting period

For the year ended December 31, 2025

Expressed in thousands of NTD

(Except as otherwise indicated)

Table 6

Number (Note 1)	Company name	Counterparty	Relationship (Note 2)	Transaction
				General ledger account	Amount	Transaction terms	Percentage of consolidated total operating revenues or total assets (Note 3)
0	FIT Holding Co., Ltd.	Foxlink Image Technology Co., Ltd.	1	Other receivables	$ 135,258	Based on the Company's policies	0%
1	Foxlink Image Technology Co., Ltd.	Glorytek (Yancheng) Co., Ltd.	3	Other receivables	178,864	Based on the Company's policies	0%
2	Glorytek (Suzhou) Co., Ltd.	Glorytek (Yancheng) Co., Ltd.	3	Other receivables	178,057	Based on the Company's policies	0%
3	Dongguan Fu Wei Electronics Co., Ltd.	Foxlink Image Technology Co., Ltd.	3	Accounts receivable	616,304	Flexible collection, depending on the capital requirement	1%
3	Dongguan Fu Wei Electronics Co., Ltd.	Foxlink Image Technology Co., Ltd.	3	Processing fees revenue	587,693	Flexible collection, depending on the capital requirement	2%
4	Wei Hai Fu Kang Electric Co., Ltd.	Foxlink Image Technology Co., Ltd.	3	Accounts receivable	454,193	Flexible collection, depending on the capital requirement	1%
4	Wei Hai Fu Kang Electric Co., Ltd.	Foxlink Image Technology Co., Ltd.	3	Sales revenue	980,789	Flexible collection, depending on the capital requirement	3%
5	Dong Guan Fu Zhang Precision Industry Co., Ltd.	Foxlink Image Technology Co., Ltd.	3	Accounts receivable	103,518	Flexible collection, depending on the capital requirement	0%
5	Dong Guan Fu Zhang Precision Industry Co., Ltd.	Foxlink Image Technology Co., Ltd.	3	Processing fees revenue	167,610	Flexible collection, depending on the capital requirement	1%
6	Power Quotient Technology (YANCHENG) Co., Ltd.	Glory Optics (Yancheng) Co., Ltd.	3	Other receivables	344,313	Based on the Company's policies	1%
6	Power Quotient Technology (YANCHENG) Co., Ltd.	Glorytek (Yancheng) Co., Ltd.	3	Other receivables	223,580	Based on the Company's policies	0%
7	Shinfox Energy Co., Ltd.	SHINFOX FAR EAST COMPANY PTE. LTD.	3	Other receivables	2,004,882	Transaction terms are based on the mutual agreement	3%

Table 6 Page 1

Transaction

Number (Note 1)	Company name	Counterparty	Relationship (Note 2)	General ledger account	Amount	Transaction terms	Percentage of consolidated total operating revenues or total assets (Note 3)
7	Shinfox Energy Co., Ltd.	SHINFOX FAR EAST (TAIWAN) COMPANY PTY LTD	3	Other receivables	450,000	Transaction terms are based on the mutual agreement	1%
7	Shinfox Energy Co., Ltd.	Youde Wind Power Co., Ltd	3	Technical services revenue	431,172	Sales price are approximate to normal clients	1%
8	Foxwell Energy Corporation Ltd.	SHINFOX FAR EAST COMPANY PTE. LTD.	3	Cost of engineering sales	10,009,964	Purchase price are approximate to normal suppliers	16%
8	Foxwell Energy Corporation Ltd.	SHINFOX FAR EAST COMPANY PTE. LTD.	3	Accounts payable	154,526	Transaction terms are based on the mutual agreement	0%
8	Foxwell Energy Corporation Ltd.	SHINFOX FAR EAST COMPANY PTE. LTD.	3	Other receivables	8,916,117	The collections depend on the financial situation after offsetting the receivables against the payables	14%
9	Foxwell Power Co., Ltd.	Billion Sun Energy Storage Technologies Inc.	3	Construction Revenue	2,723,061	Sales price are approximate to normal clients	4%
9	Foxwell Power Co., Ltd.	Billion Sun Energy Storage Technologies Inc.	3	Accounts receivable	571,500	Transaction terms are based on the mutual agreement	2%
9	Foxwell Power Co., Ltd.	Billion Sun Energy Storage Technologies Inc.	3	contract asset	1,063,061	Transaction terms are based on the mutual agreement	2%
10	SHINFOX FAR EAST COMPANY PTE. LTD.	SFE Hercules Company Corporation.	3	Accounts payable	543,786	Transaction terms are based on the mutual agreement	1%
10	SHINFOX FAR EAST COMPANY PTE. LTD.	SFE Developer Company Corporation	3	Accounts payable	819,893	Transaction terms are based on the mutual agreement	1%
10	SHINFOX FAR EAST COMPANY PTE. LTD.	Shinfox Far East (Taiwan) Company Pty Ltd	3	Guarantee deposits received	1,303,652	Transaction terms are based on the mutual agreement	2%

				Transaction
Number (Note 1)	Company name	Counterparty	Relationship (Note 2)	General ledger account	Amount	Transaction terms	Percentage of consolidated total operating revenues or total assets (Note 3)
10	SHINFOX FAR EAST COMPANY PTE. LTD.	SFE Hercules Company Corporation.	3	Cost of engineering sales	1,061,103	Transaction terms are based on the mutual agreement	3%
10	SHINFOX FAR EAST COMPANY PTE. LTD.	SFE Developer Company Corporation	3	Cost of engineering sales	1,272,836	Transaction terms are based on the mutual agreement	4%

Note 1: The numbers filled in for the transaction company in respect of inter-company transactions are as follows:
(1) Parent company is '0'.
(2) The subsidiaries are numbered in order starting from '1'.
Note 2: Relationship between transaction company and counterparty is classified into the following three categories; fill in the number of category each case belongs to.
(1) Parent company to subsidiary.
(2)Subsidiary to parent company.
(3)Subsidiary to subsidiary.
Note 3: Percentage of total consolidated revenues or total assets is calculated using the total consolidated assets at the end of the year when the subject of transaction is an asset/liability, and is calculated by total consolidated revenues during the year when the subject of transaction is a revenue/expense.
Note 4: The inter-company transactions not exceeding $0.1 million are not disclosed. In addition, counterparty related parties' transactions are not disclosed.

FIT HOLDING CO., LTD.

Information on investees

For the year ended December 31, 2025

Table 7

Expressed in thousands of NTD

(Except as otherwise indicated)

Investor	Investee	Location	Main business activities	Initial investment amount		Shares held as at December 31, 2025			Net profit (loss) of the investee for the year ended December 31, 2025	Investment income (loss) recognized by the Company for the year ended December 31, 2025
				Balance as at December 31, 2025	Balance as at December 31, 2024	Number of shares	Ownership (%)	Book value
FIT Holding Co., Ltd.	Glory Science Co., Ltd.	Taiwan	Manufacture and sales of optical instruments	$ 2,814,868	$ 2,814,868	35,000,001	100.00	$ 466,873	$ 221,245	$ 221,245
FIT Holding Co., Ltd.	Foxlink Image Technology Co., Ltd.	Taiwan	Manufacture of image scanners and multifunction printers	3,011,140	3,011,140	164,993,974	100.00	3,378,613	( 25,879)	( 32,216)
FIT Holding Co., Ltd.	Power Quotient International Co., Ltd.	Taiwan	Manufacture and sales of telecommunication electronic components	3,372,180	3,372,180	444,690,529	100.00	682,417	( 5,929,367)	( 5,930,137)
FIT Holding Co., Ltd.	Shih Fong Power Co., Ltd.	Taiwan	Hydroelectricity generation	300,000	300,000	37,500,000	16.30	390,663	6,350	1,035
FIT Holding Co., Ltd.	Synergy Co., Ltd.	Taiwan	Energy service management	36,760	36,760	3,676,000	2.30	36,772	9,172	169
Foxlink Image Technology Co., Ltd.	ACCU-IMAGE TECHNOLOGY LIMITED	British Virgin Islands	Manufacture of image scanners and multifunction printers	1,357,049	1,357,049	20,241,034	100.00	3,497,250	509,486	-
Foxlink Image Technology Co., Ltd.	Shih Fong Power Co., Ltd.	Taiwan	Hydroelectricity generation	957,600	957,600	79,800,000	34.70	962,812	6,350	-
Foxlink Image Technology Co., Ltd.	Shinfox Energy Co., Ltd.	Taiwan	Energy service management	1,466,522	-	18,331,519	6.67	403,034	( 15,941,683)	-
ACCU-IMAGE TECHNOLOGY LIMITED	POWER CHANNEL LIMITED	Hong Kong	Holding and reinvesting businesses	134,835	134,835	3,575	35.75	1,292,832	784,338	-
Glory Science Co., Ltd.	GLORY TEK (BVI) CO., LTD.	British Virgin Islands	General investments business	1,492,919	1,492,919	47,499,819	100.00	606,682	621,795	-
GLORY TEK (BVI) CO., LTD.	GLORY TEK (SAMOA) CO., LTD.	Samoa	General investments business	1,001,065	1,001,065	31,850,628	100.00	665,724	235,576	-
GLORY TEK (BVI) CO., LTD.	GLORY OPTICS (BVI) CO., LTD.	British Virgin Islands	Trading	502,880	502,880	16,000,000	100.00	( 123,184)	386,510	-
GLORY TEK (BVI) CO., LTD.	GLORYTEK SCIENCE INDIA PRIVATE LIMITED	India	Trading and manufacturing	105,789	105,789	21,773,105	99.27	75,529	( 289)	-

Table 7 Page 1

Initial investment amount

Shares held as at December 31, 2025

Investor	Investor	Location	Main business activities	Balance as at December 31, 2025	Balance as at December 31, 2024	Number of shares	Ownership (%)	Book value	Net profit (loss) of the investee for the year ended December 31, 2025	Investment income (loss) recognized by the Company for the year ended December 31, 2025
GLORYTEK SCIENCE INDIA PRIVATE LIMITED	TEGNA ELECTRONICS PRIVATE LIMITED	India	Trading and manufacturing	10,488	10,488	3,001,000	10.00	12,415	1,775	-
Power Quotient International Co., Ltd.	Power Quotient International (H.K.) Co., Ltd.	Hong Kong	Sales of electronic telecommunication components	428,432	428,432	106,100,000	100.00	751,847	11,157	-
Power Quotient International Co., Ltd.	PQI JAPAN CO., LTD	Japan	Sales of electronic telecommunication components	2,008	2,008	24,300	100.00	2,154	-	-
Power Quotient International Co., Ltd.	SYSCOM DEVELOPMENT CO., LTD	British Virgin Islands	Specialised investments holding	341,423	341,423	10,862,980	100.00	78,309	(347)	-
Power Quotient International Co., Ltd.	Apix LIMITED	British Virgin Islands	Specialised investments holding	3,252,037	3,252,037	12,501	100.00	910,342	53,879	-
Power Quotient International Co., Ltd.	Shinfox Energy Co., Ltd.	Taiwan	Energy service management	3,646,600	3,646,600	102,951,145	37.49	525,852	(15,941,683)	-
Shinfox Energy Co., Ltd.	Foxwell Energy Corporation Ltd.	Taiwan	Energy service management	11,533,000	8,233,000	1,374,500,000	100.00	7,615,076	(6,353,620)	-
Shinfox Energy Co., Ltd.	Shinfox Natural Gas Co., Ltd.	Taiwan	Energy service management	360,000	360,000	36,000,000	80.00	258,191	(23,208)	-
Shinfox Energy Co., Ltd.	Foxwell Power Co., Ltd.	Taiwan	Energy service management	546,585	656,590	36,439,000	49.36	1,281,462	450,199	-
Shinfox Energy Co., Ltd.	Jiuwei Power Co., Ltd.	Taiwan	NG-fueled Power Generation Business	200,000	1,100,000	20,000,000	100.00	50,138	(130,097)	-
Shinfox Energy Co., Ltd.	Yuanshan Forest Natural Resources Co., Ltd.	Taiwan	Energy technical services	100,000	100,000	10,000,000	100.00	66,464	(18,590)	-
Shinfox Energy Co., Ltd.	Elegant Energy TECH Co., Ltd.	Taiwan	Afforestation	200,000	200,000	500,000	100.00	219	(2,217)	-
Shinfox Energy Co., Ltd.	Changpin Wind Power Ltd.	Taiwan	Electric power generation	370,000	270,000	37,000,000	50.00	281,893	4,536	-
Shinfox Energy Co., Ltd.	Guanwei Power Co., Ltd.	Taiwan	Electric power generation	35,700	35,700	3,570,000	51.00	34,965	(516)	-
Shinfox Energy Co., Ltd.	Shinfox Far East Company Pte., Ltd.	Singapore	Maritime engineering related business	1,684,648	1,684,648	53,600,000	67.00	(7,868,684)	(11,776,527)	-
Shinfox Energy Co., Ltd.	Junwei Power Co., Ltd.	Taiwan	Electric power generation	22,000	22,000	2,200,000	100.00	18,106	(263)	-
Shinfox Energy Co., Ltd.	Eastern Rainbow Green Energy Environmental Technolov Co., Ltd.	Taiwan	Afforestation	218,020	218,020	19,820,000	56.63	134,019	(33,477)	-
Shinfox Energy Co., Ltd.	UbiLink AI Co., Ltd.	Taiwan	Computer software services	26,400	10,000	2,640,000	13.20	(22,336)	(359,765)	-
Shinfox Energy Co., Ltd.	Youde Wind Power Co., Ltd	Taiwan	Electric power generation	491,000	491,000	49,100,000	70.04	474,200	(23,753)	-
Shinfox Energy Co., Ltd.	Fox Nam Energy Co., LTD.	Vietnam	Electric power generation	110,005	110,005	-	100.00	106,991	1,079	-

Table 7 Page 2

Initial investment amount

Shares held as at December 31, 2025

Investor	Investee	Location	Main business activities	Balance as at December 31, 2025	Balance as at December 31, 2024	Number of shares	Ownership (%)	Book value	Net profit (loss) of the investee for the year ended December 31, 2025	Investment income (loss) recognized by the Company for the year ended December 31, 2025
Shinfox Energy Co., Ltd.	DakPsi Investment and Develop Hydroelectric Joint Stock Comms	Vietnam	Electric power generation	631,127	631,127	14,645,245	35.00	675,446	111,259	-
Shinfox Energy Co., Ltd.	Senergy Co., Ltd.	Taiwan	Energy service management	800,010	-	80,001,000	50.00	621,657	9,172	-
Foxwell Energy Corporation Ltd.	Xinwei Power Co., Ltd.	Taiwan	Electric power generation	-	37,300	-	0.00	-	4,682	-
Foxwell Energy Corporation Ltd.	Youde Wind Power Co., Ltd	Taiwan	Electric power generation	210,000	210,000	21,000,000	29.96	202,815	(23,753)	-
Foxwell Power Co., Ltd.	Foxwell Certification Co., Ltd.	Taiwan	Afforestation	28,650	28,650	2,865,000	95.50	13,190	(1,100)	-
Foxwell Power Co., Ltd.	Cheng Shin Digital Co., Ltd.	Taiwan	Afforestation	48,436	48,436	4,844,000	49.00	35,224	840	-
Foxwell Power Co., Ltd.	Billion Sun Energy Storage Technologies I	Taiwan	Afforestation	369,215	-	39,240,000	30.00	129,550	24	-
Foxwell Power Co., Ltd.	Huijie Energy Co., Ltd.	Taiwan	Afforestation	500	-	50,000	100.00	499	-	-
Foxwell Power Co., Ltd.	Smart Power System Ltd	Taiwan	Afforestation	696,171	-	8,160,000	51.00	609,645	35,439	-
Smart Power System	Hongju Energy Co., Ltd.	Taiwan	Energy storage site development industry	3,900	3,900	679,000	30.00	7,199	(417)	-
Smart Power System	Smart Technology Co., Ltd.	Taiwan	Overseas energy storage market development	12,500	12,500	1,250,000	40.00	4,052	(13,838)	-
Smart Power System	Billion Power Technologies INC.	Taiwan	Electrical equipment inspection and maintenance industry	-	4,900	-	-	-	4,289	-
Smart Power System	Zhixin Energy Co., Ltd	Taiwan	Energy storage and management services	6,010	1,000	601,000	100.00	8,298	2,200	-
Smart Power System	Smart Power System Australia Pty Ltd	Australia	Afforestation	13,390	-	700,000	100.00	14,271	(417)	-
Eastern Rainbow Green Energy Environmental Technology Co., Ltd.	Eastern Rainbow Environmental Technology Co., Ltd.	Taiwan	Afforestation	2,500	2,500	250,000	100.00	781	(29)	-
Synergy Co., Ltd.	Xinwei Power Co., Ltd.	Taiwan	Electric power generation	44,151	-	3,730,000	100.00	43,751	4,682	-
Synergy Co., Ltd.	Billion Sun Energy Storage Technologies I	Taiwan	Afforestation	523,200	-	64,000,000	40.00	513,936	24	-
Shinfox Far East Company Pte., Ltd.	SFE Hercules Company Corporation.	Panama	Maritime engineering related business	5,281,500	5,281,500	200	100.00	5,321,896	289,512	-
Shinfox Far East Company Pte., Ltd.	Shinfox Far East (Taiwan) Company Pty Ltd.	Taiwan	Maritime engineering related business	30,000	30,000	3,000,000	100.00	24,458	(53,003)	-
Shinfox Far East Company Pte., Ltd.	SFE Developer Company Corporation	Panama	Maritime engineering related business	1,677,444	3	300	100.00	1,355,248	(319,629)	-

Table 7 Page 3

Investor	Investee	Location	Main business activities	Initial investment amount		Shares held as at December 31, 2025			Investment income (loss) recognized by the Company for the year ended December 31, 2025	Footnote
				Balance as at December 31, 2025	Balance as at December 31, 2024	Number of shares	Ownership (%)	Book value
SYSCOM DEVELOPMENT CO., LTD.	Foxlink Powerbank International Technology Private Limited	India	Sales of electronic telecommunication components	105,698	105,698	21,790,000	99.27	75,537 (357)	-
Apix LIMITED	Sinocity Industries Co., Ltd.	Hong Kong	Sales of electronic product	2,725,650	2,725,650	6,000,000	100.00	658,771	41,875	-
Apix LIMITED	Perennial Ace Limited	British	Specialised investments holding	669,459	669,459	Shares yet to be issued.	100.00	251,419	12,003	-
Sinocity Industries Co., Ltd.	DG LIFESTYLE STORE LIMITED	Macaa	Sales of electronic product	-	392	-	-	-	146	- Note 1
Perennial Ace Limited	Studio A Technology Limited	Hong Kong	Sales of electronic product	4,998	4,998	1,225,000	24.50	111,623	48,992	-
Foxlink Powerbank International Technology Private Limited	TEGNA ELECTRONICS PRIVATE LIMITED	India	Trading and manufacturing	10,490	10,490	3,001,000	10.00	12,415	1,774	-

Note 1: DG LIFESTYLE STORE LIMITED completed liquidation in the fourth quarter of 2025.

FIT HOLDING CO., LTD.

Information on investments in Mainland China

For the year ended December 31, 2025

Table 8

Investee in Mainland China	Main business activities	Paid-in capital	Investment method	Accumulated amount of remittance from Taiwan to Mainland China as of January 1, 2025	Amount remitted from Taiwan to Mainland China / Amount remitted back to Taiwan for the year ended December 31, 2025		Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2025	Net income of investee for the year ended December 31, 2025	Ownership held by the Company (direct or indirect)	Investment income (loss) recognized by the Company for the year ended December 31, 2025	Book value of investments in Mainland China as of December 31, 2025	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2025	Footnote
					Remitted to Mainland China	Remitted back to Taiwan
Dong Guan Han Yang Computer Limited	Manufacture of image scanners and multifunction printers and investment in scanners	$ 192,201	Note 2	$ 192,201	$ -	$ -	$ 192,201	$ 28,485	100	$ 28,485	$ 404,242	$ -
Sharetronic Data Technology Co., Ltd.	Manufacture and sales of mobile phone, LCD TV Connector and electronic components	1,547,714	Note 2	134,835	-	-	134,835	5,006,355	5.95	280,401	1,166,123	-
Dong Guan Fu Zhang Precision Industry Co., Ltd.	Mould development and moulding tool manufacture	254,968	Note 2	187,495	-	-	187,495	19,948	100	19,948	154,315	-
Wei Hai Fu Kang Electric Co., Ltd.	Manufacture and sale of parts and moulds of photocopiers and scanners	785,750	Note 2	377,160	-	-	377,160	154,960	100	154,960	1,047,557	-
Dongguan Fu Wei Electronics Co., Ltd.	Manufacture and sales of image scanners, multifunction and printers and its accessories	188,580	Note 2	166,841	-	-	166,841	26,041	100	26,041	675,434	-
Glorytek (Suzhou) Co., Ltd.	Trading and manufacturing	440,020	Note 2	429,027	-	-	429,027	126,914	100	126,914	392,925	-
Glorytek (Yancheng) Co., Ltd.	Trading and manufacturing	282,870	Note 2	282,870	-	-	282,870	437,128	100	437,128	(358,916)	-
Yancheng Yao Wei Technology Co., Ltd	Trading and manufacturing	44,716	Note 3	-	-	-	-	31	100	31	86,708	-
Glory Optics (Yancheng) Co., Ltd.	Trading and manufacturing	1,181,464	Note 4	559,454	-	-	559,454	232,085	100	232,085	582,653	-
Power Quotient Technology (YANCHENG) Co., Ltd.	Manufacture and sales of electronic components	628,600	Note 2	Note 5	-	-	-	11,240	100	11,240	751,628	-
PQI (Xuzhou) New Energy Co., Ltd.	Manufacture and sales of electronic components	-	Note 3	Note 6	-	-	-	16	-	16	-	-	Note 7
Kunshan Jiuwei Info Tech Co., Ltd.	Supply chain finance energy service management	31,431	Note 1	1,572	1,572	-	3,144	613	100	613	36,541	-
KunShan Eastern Rainbow Environmental Equipment Co., Ltd.	Energy technical services	22,358	Note 1	22,358	-	-	22,358	(6,574)	100	(6,574)	16,220	-
Chengdu Xinliwei Energy Co., Ltd.	Electric power supply	125,720	Note 1	125,720		-	125,720	(1,012)	100	(1,012)	125,969	-

Note 1: Directly go to the Mainland China for investment.
Note 2: Through investing in an existing company in the third area, which then invested in the investee in Mainland China.
Note 3: As the investment is invested through an existing company in Mainland China, which then invested in the investee.
Note 4: An investee established in the third area and an reinvestee in Mainland China invested by an investee in Mainland China.
Note 5: The capital of an indirect investment of PQI, Power Quotient Technology (YANCHENG) Co., Ltd., was remitted by the financing from the investee in the third party.
Note 6: The capital of an indirect investment of PQI (Xuzhou) New Energy Co., Ltd., was remitted by a capital from Power Quotient Technology (YANCHENG) Co., Ltd.
Note 7: PQI (Xuzhou) New Energy Co., Ltd. completed liquidation in the third quarter of 2025.

Company name	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2025	Investment amount approved by the Investment Commission of the Ministry of Economic Affairs (MOEA)	Ceiling on investments in Mainland China imposed by the Investment Commission of MOEA
Foxlink Image Technology Co., Ltd.	$ 1,071,191	$ 1,552,399	$ 1,784,008
Glory Science Co., Ltd.	1,271,351	1,271,351	280,456
Power Quotient International Co., Ltd.	-	685,017	31,848
Shinfox Energy Co., Ltd.	128,864	128,864	841,587
Eastern Rainbow Green Energy Environmental Technology Co., Ltd.	22,358	22,358	131,911

FIT HOLDING CO., LTD.
STATEMENT OF CASH AND CASH EQUIVALENTS
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

STATEMENT 1

Item	Description	Amount
Bank deposits
NTD deposits		$ 240,900
Foreign currency deposits	USD 1 thousand dollars, exchange rate 31.430	32
	RMB 6,956 thousand dollars, exchange rate 4.4716	31,103
		$ 272,035

STATEMENT 1, Page1

FIT HOLDING CO., LTD.
STATEMENT OF CHANGES IN INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

STATEMENT 2

Name	Beginning Balance		Addition (Note 1)		Decrease (Note 1)		Ending Balance			Market Value or Net Assets Value (Note 2)
	Shares	Amount	Shares	Amount	Shares	Amount	Shares	Percentage of Ownership	Amount	Unit Price	Total Amount	Collateral
Foxlink Image Technology Co., Ltd.	164,993,974	$ 6,289,136	-	$ -	-	($ 2,910,523)	164,993,974	100%	$ 3,378,613	18.02	$ 2,973,347	None
Power Quotient International Co., Ltd.	444,690,529	5,836,293	-	-	-	( 5,153,876)	444,690,529	100%	682,417	1.21	536,836	None
Glory Science Co., Ltd.	60,000,001	236,545	-	230,328	-	-	60,000,001	100%	466,873	7.78	466,872	None
Shih Fong Power Co., Ltd.	37,500,000	389,628	-	1,035	-	-	37,500,000	16.30%	390,663	10.73	402,342	None
Synergy Co., Ltd.	3,676,000	36,019	-	753	-	-	3,676,000	2.30%	36,772	9.95	36,566	None
		$ 12,787,621		$ 232,116		($ 8,064,399)			$ 4,955,338		$ 4,415,963

Note 1: Changes in current year included acquisition of investments accounted for using equity method, share of profit or loss or other comprehensive income in investees a capital increase and reduction to write off accumulated losses.
Note 2: Net assets value was calculated based on the Company's shareholding ratio in each investee according to their financial statements.

STATEMENT 2, Page1

FIT HOLDING CO., LTD.
STATEMENT OF SHORT-TERM BORROWINGS
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

STATEMENT 3

Nature	Description	Ending Balance	Contract Period	Range of Interest Rate	Credit Line	Collateral	Note
Unsecured borrowings	Taishin International Bank	$ 500,000	2025/10/21~2026/1/19	2.01%	-	None
Unsecured borrowings	Bank SinoPac Bank	168,000	2025/12/12~2026/1/2	2.08%	-	None	Shared credit facility limit for short- and long-term borrowings
Unsecured borrowings	KGI Commercial Bank Co., Ltd.	100,000	2025/11/4~2026/2/4	2.05%	-	None
		$ 768,000

STATEMENT 3, Page1

FIT HOLDING CO., LTD.
STATEMENT OF LONG-TERM BORROWINGS
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

STATEMENT 4

Creditor	Description	Amount	Contract Period	Interest Rate	Collateral
Agricultural Bank of Taiwan	Unsecured borrowings	$ 350,000	2025/12/13~2027/12/13	1.98%	None
The Shanghai Commercial & Savings Bank, Ltd.	Unsecured borrowings	300,000	2023/5/12~2027/5/12	2.23%	None
Mega Bank	Unsecured borrowings	300,000	2025/9/19~2028/9/19	2.23%	None
Yuanta Bank	Unsecured borrowings	300,000	2025/1/25~2027/1/25	2.20%	None
Far Eastern International Bank	Unsecured borrowings	200,000	2024/12/11~2027/12/15	2.16%	None
Less: Current portion		( 300,000)
Total		$ 1,150,000

STATEMENT 4, Page1

FIT HOLDING CO., LTD.
SUMMARY STATEMENT OF CURRENT PERIOD EMPLOYEE BENEFITS, DEPRECIATION, DEPLETION AND AMORTIZATION EXPENSES
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

STATEMENT 5

| Function
Nature | Year ended December 31, 2025 | | | Year ended December 31, 2024 | | |
| --- | --- | --- | --- | --- | --- | --- |
| | Classified as Operating Costs | Classified as Operating Expenses | Total | Classified as Operating Costs | Classified as Operating Expenses | Total |
| Employee Benefit Expense | | | | | | |
| Wages and salaries | $ - | $ 6,057 | $ 6,057 | $ - | $ 9,000 | $ 9,000 |
| Labour and health insurance fees | - | 616 | 616 | - | 520 | 520 |
| Pension costs | - | 182 | 182 | - | 202 | 202 |
| Directors' remuneration | - | 1,800 | 1,800 | - | 12,245 | 12,245 |
| Other personnel expenses | - | 223 | 223 | - | 304 | 304 |

Note:
1. As at December 31, 2025 and 2024, the Company had 25 and 25 employees, including 9 and 9 non-employee directors, respectively.
2. A company whose stock is listed for trading on the stock exchange or over-the-counter securities exchange shall additionally disclose the following information :
(1) Average employee benefit expense in current year was $442 ((Total employee benefit expense in current year–Total Directors' remuneration)/(Number of employees in current year–Number of non-employee directors in current year)).
Average employee benefit expense in previous year was $627 ((Total employee benefit expense in previous year–Total Directors' remuneration)/(Number of employees in previous year–Number of non-employee directors in previous year)).
(2) Average employee salaries in current year was $379 (Total employee salaries in current year/(Number of employees in current year–Number of non-employee directors in current year)).
Average employee salaries in previous year was $563 (Total employee salaries in previous year/(Number of employees in previous year–Number of non-employee directors in previous year)).

STATEMENT 5, Page1

FIT HOLDING CO., LTD.
SUMMARY STATEMENT OF CURRENT PERIOD EMPLOYEE BENEFITS, DEPRECIATION, DEPLETION AND AMORTIZATION EXPENSES
(Cont.)
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

STATEMENT 5

(3) Adjustments of average employee salaries was (33%) ((Average employee salaries in current year–Average employee salaries in previous year) / Average employee salaries in previous year).

(4) There was no supervisors’ remuneration in current and previous years. (The Company has no supervisors’ remuneration as it has set up an audit committee)

(5) The Company’s remuneration policy (including directors, supervisors, managers, and employees) is as follows:

A. Relevance between the policy, standard and portfolio and established procedures of the remuneration that the Company paid to directors and independent directors and operational performance and future risk;

(a) Directors’ remuneration of the Company was paid in accordance with the standards of attendance allowance and travel fee payments approved by the Board of Directors as well as the general pay levels.

(b) In accordance with Article 26 of the Company’s Articles of Incorporation: a ratio of distributable profit of the current year’s profit before tax that excludes employees’ compensation and directors’ remuneration, after covering accumulated losses, shall be distributed as employees’ compensation and directors’ remuneration, which will be resolved by the Board of Directors. The ratio shall not be lower than 6% for employees’ compensation and shall not be higher than 3% for directors’ remuneration.

B. Relevance between the policy, standard and portfolio and established procedures of the remuneration that the Company paid to managers and operational performance and future risk;

(a) Managers’ remuneration of the Company was determined in accordance with requirements stated in the performance evaluation regulations of the Company, depending on personal performance and contribution to the Company’s overall operation and by reference to the general pay levels of the industry and was conducted after being reviewed by the remuneration committee and reported to the Board of Directors for approval.

STATEMENT 5, Page2

STATEMENT 5

(b) In accordance with Article 26 of the Company’s Articles of Incorporation: a ratio of distributable profit of the current year’s profit before tax that excludes employees’ compensation and directors’ remuneration, after covering accumulated losses, shall be distributed as employees' compensation and directors’ remuneration, which will be resolved by the Board of Directors. The ratio shall not be lower than 6% for employees’ compensation and shall not be higher than 3% for directors’ remuneration.

C. Relevance between the policy, standard and portfolio and established procedures of the remuneration that the Company paid to employees and operational performance and future risk;

(a) Employees’ remuneration included monthly salary (including meal allowances), annual salary adjustment for personal performance, performance bonus, holiday bonus and earnings bonus. Salary payment of the Company’s employees was determined in accordance with the general pay levels of the industry, operation of the Company, employees’ educational background, experience, ability and contribution and was adjusted depending on the market salary dynamics, changes in the overall economic and industrial climate and the government regulations.

(b) In accordance with Article 26 of the Company’s Articles of Incorporation: a ratio of distributable profit of the current year’s profit before tax that excludes employees’ compensation and directors’ remuneration, after covering accumulated losses, shall be distributed as employees' compensation and directors’ remuneration, which will be resolved by the Board of Directors. The ratio shall not be lower than 6% for employees’ compensation and shall not be higher than 3% for directors’ remuneration.

STATEMENT 5, Page3

AI assistant

FITH — Audit Report / Information 2026

52375_rns_2026-05-21_924f59e2-0fc4-4664-aacd-5a089b44e2b6.pdf

INDEPENDENT AUDITORS' REPORT TRANSLATED FROM CHINESE

Opinion

Basis for opinion

Key audit matters

Recognition of construction revenue - assessment on the stage of completion

Description

How our audit addressed the matter

Investments accounted for under the equity method - Valuation of goodwill impairment

Description

How our audit addressed the matter

Investments accounted for under equity method - Valuation of property, plant and equipment impairment

Description

How our audit addressed the matter

Other matter - Reference to the reports of other auditors

Responsibilities of management and those charged with governance for the parent company only financial statements

Auditors’ responsibilities for the audit of the parent company only financial statements

FIT HOLDING CO., LTD.

NOTES TO THE PARENT COMPANY ONLY FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

1. History and Organisation

2. The Date of Authorisation for Issuance of the Financial Statements and Procedures for Authorisation

3. Application of New Standards, Amendments and Interpretations

(1) Effect of the adoption of new issuances of or amendments to International Financial Reporting Standards (“IFRS®”) Accounting Standards that came into effect as endorsed by the Financial Supervisory Commission (“FSC”)

(4) Intangible assets

(5) Pensions

(6) Short-term borrowings

(12) Expenses by nature

(13) Income tax

10. Significant Disaster Loss

11. Significant Events after the Balance Sheet Date

Price risk

Cash flow and fair value Interest rate risk

(b) Credit risk

(c) Liquidity risk

13. Supplementary Disclosures

(1) Significant transactions information

(2) Information on investees

(3) Information on investments in Mainland China

FIT HOLDING CO., LTD.

Information on investments in Mainland China

More from FITH

FITH Audit Report / Information 2026