Stock Code: 4952

Generalplus Technology Inc. And Subsidiaries

Consolidated Financial Statements For the Years Ended December 31, 2025 and 2024 And Independent Auditors’ Report

Address: No. 19, Industry E. Rd. IV, Hsinchu Science Park, Hsinchu City
Tel: 886-3-6662118

§CONTENTS§

ITEM		PAGE	NOTE NO.
1.	COVER	1	-
2.	TABLE OF CONTENTS	2	-
3.	ASSOCIATES' CONSOLIDATED FINANCIAL STATEMENTS	3	-
4.	INDEPENDENT AUDIT REPORT	4~8	-
5.	CONSOLIDATED BALANCE SHEETS	9	-
6.	CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME	10~11	-
7.	CONSOLIDATED STATEMENT OF CHANGES IN EQUITY	12	-
8.	CONSOLIDATED STATEMENT OF CASH FLOWS	13~14	-
9.	CONSOLIDATED FINANCIAL STATEMENT NOTES
(1)	COMPANY HISTORY	15	1
(2)	THE DATE WHEN THE FINANCIAL REPORTS WERE AUTHORIZED FOR ISSUANCE AND THE PROCESS INVOLVED	15	2
(3)	APPLICABILITY OF NEW ISSUING & REVISED STANDARDS AND INTERPRETATION	16~18	3
(4)	SUMMARY AND EXPLANATION OF MATERIAL ACCOUNTING POLICIES	18~29	4
(5)	PRIMARY SOURCES OF UNCERTAINTY IN MAJOR ACCOUNTING JUDGMENTS, ESTIMATES, AND ASSUMPTIONS	29	5
(6)	DESCRIPTION OF SIGNIFICANT ACCOUNTING ITEMS	29~57	6~28
(7)	TRANSACTION WITH RELATED PARTIES	57~58	29
(8)	PLEDGED ASSETS	58	30
(9)	SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED CONTRACTUAL COMMITMENTS	58~59	31
(10)	SIGNIFICANT DISASTER LOSSES	-	-
(11)	SIGNIFICANT SUBSEQUENT EVENTS	-	-
(12)	INFORMATION ON FOREIGN CURRENCY ASSETS AND LIABILITIES WITH SIGNIFICANT IMPACT	59~60	32
(13)	NOTE DISCLOSURE
	1. INFORMATION ON MATERIAL TRANSACTIONS	60; 62~64	33
	2. INFORMATION ABOUT THE INVESTMENT BUSINESS	60; 65	33
	3. INFORMATION OF INVESTMENT FROM MAINLAND CHINA	60; 66~67	33
(14)	DEPARTMENTAL INFORMATION	60~61	34

Declaration Statement Of Consolidated Financial Statements Of Associates

For the year ended December 31, 2025 (from January 1, 2025 to December 31, 2025), the companies that are required to be included in the preparation of the Consolidated Financial Statements of Affiliated Enterprises in accordance with the "Criteria Governing Preparation of Affiliation Reports, Consolidated Business Reports and Consolidated Financial Statements of Affiliated Enterprises" are the same as those that are required to be included in the preparation of the Consolidated Financial Statements of Affiliated Enterprises in accordance with International Financial Reporting Standard No. 10. The information required to be disclosed in the Consolidated Financial Statements of Affiliated Enterprises has already been disclosed in the previous consolidated financial statements of the parent and subsidiary, so we will not prepare a separate Consolidated Financial Statements of Affiliated Enterprises.

Company: Generalplus Technology Inc.

Person in charge: HUANG, CHOU-CHYE

February 25, 2026

Independent Auditor’s Report

The Board of Directors and Shareholders
Generalplus Technology Inc.

Audit opinion

We have audited the consolidated balance sheets of Generalplus Technology Inc. and its subsidiaries as of December 31, 2025 and 2024, and the consolidated statements of comprehensive income, changes in equity, and cash flows, and accompanying notes (including significant accounting policies) for the years ended December 31, 2025 and 2024.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Generalplus Technology Inc. and its subsidiaries as of December 31, 2025 and 2024, and the financial performance and cash flows for the years ended December 31, 2025 and 2024 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, and the International Financial Reporting Standards, interpretations and related interpretations that have been approved and issued by the Financial Supervisory Commission.

Basis for the audit opinion

We conducted our audit in accordance with the Regulations Governing Auditing and Attestation of Financial Statements by Certified Public Accountants and Generally Accepted Auditing Standards. Our responsibility under those standards is further described in the auditor’s responsibility section of our auditor’s report. The personnel of our firm who are subject to the rules of independence have complied with The Norm of Professional Ethics for Certified Public Accountant of the Republic of China and have maintained their independence from Generalplus Technology Inc. and its subsidiaries. We believe that we have obtained sufficient and appropriate audit evidence to provide a basis for our audit opinion.

Key audit matters

The key audit matters refer to the matters that, in the auditor’s professional judgment, were of most significance in the audit of the consolidated financial statements of Generalplus Technology

Inc. and its subsidiaries for the year ended December 31, 2025. These matters were addressed in the context of the audit of the consolidated financial statements as a whole, and we do not represent the separate opinion on these matters.

The key audit matters for the consolidated financial statements of Generalplus Technology Inc. and its subsidiaries for the year ended December 31, 2025 are described below:

Revenue from specific products

Sales revenue transactions of Generalplus Technology Inc. and its subsidiaries are subject to a risk of occurrence. Sales to specific products with significant transaction amounts and growth in sales revenue pose higher risks to the recognition of revenue. Therefore, this matter has been identified as a key audit matter by the auditor. Please refer to Note 4 and 22 for further details.

The auditor’s procedures for this include:

The auditor understands the relevant internal control system and operating procedures related to the sales transaction cycle to confirm and evaluate whether the internal control operations related to sales transactions are effective.
The auditor selects samples from sales details, examines customer original orders, sales delivery notes, shipping notes, outsourcing factory shipping notices or logistics receipt documents or export declarations, and sales invoices to confirm the authenticity of revenue occurrence by checking for abnormal receipts from sales and payment objects.

Other matters

Generalplus Technology Inc. has prepared parent company only financial statements for the years 2025 and 2024, and the auditor has issued an unqualified audit report for reference.

Responsibilities of management and directors for the consolidated financial statements

Management’s responsibility is to prepare the consolidated financial statements present fairly, in all material respects, according to Regulations Governing the Preparation of Financial Reports by Securities Issuers as well as the International Financial Reporting Standards, International Accounting Standards, Interpretation, and Interpretation Announcement recognized and announced the effectiveness by Financial Supervisory Commission as well as maintain necessary internal control related to the preparation of the consolidated financial statements in order to ensure there is no major untrue expression on the financial statements due to fraud or error.

In preparing the consolidated financial statements, management is responsible for assessing the ability of Generalplus Technology Inc. and its subsidiaries to continue as going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate Generalplus Technology Inc. and its subsidiaries or to cease operations, or has no realistic alternative, but to do so.

The responsibilities of the governing body (including the audit committee) include overseeing the financial reporting process of Generalplus Technology Inc. and its subsidiaries.

Auditors’ responsibilities for the audit of the consolidated financial statements

Our objectives are to obtain reasonable assurance about whether the consolidated 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 GAAS 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 in the basis of these consolidated financial statements.

As part of an audit in accordance with GAAS, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the consolidated 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 audit opinions. Because fraud may be related to conspiracy, forgery, deliberate omission, false statement or breach of internal control, the risk of a material misstatement caused by fraud which is not identified is higher than the risk of a material misstatement caused by any error.
Obtain an understanding of internal controls 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 internal control effectiveness of Generalplus Technology Inc. and its subsidiaries.
Assess the appropriateness of management’s use of accounting policies and the reasonability of the accounting estimate and relevant disclosure.
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 ability of Generalplus Technology Inc. and its subsidiaries to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the consolidated 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
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cause Generalplus Technology Inc. and its subsidiaries to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the consolidated financial statements (including the relevant notes), and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient and appropriate audit evidence regarding the financial information of the entities within the group and to express an opinion on the consolidated financial statements. We are responsible for directing, supervising, and executing the group audit, and for forming the group audit opinion.

We communicate with the governing body regarding, among other matters, the planned scope and timing of the audit and significant audit findings (including any significant deficiency in internal controls that we identify during our audit).

We have also provided the governing body with a statement that the independence-regulated personnel of the firm to which we are affiliated have complied with the Code of Ethics for Professional Accountants with respect to independence, and communicate with the governing body about all relationships and other matters (including related protective measures) that may be considered to affect the accountant's independence.

We have determined the key audit matter for the audit of the Consolidated Financial Statements of Generalplus Technology Inc. and its subsidiaries for the year ended December 31, 2025 from the communications we have had with the governing body. We identified such matter in our auditor's report, except for those matters that are not permitted by law to be disclosed publicly or, in the rarest of circumstances, we decided not to communicate those matters in our auditor's report because we reasonably could expect the negative effect of such communication to outweigh the public interest.

The engagement partners on the audits resulting in this independent auditors' report are Tung Hui Yeh and Ya Yun Chang

Deloitte & Touche
Taipei, Taiwan
Republic of China
February 25, 2026

Notice to Readers

The accompanying consolidated financial statements are intended only to present the consolidated financial position, financial performance, and cash flows in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and with the International Financial Reporting Standards, International Accounting Standards, interpretations as well as

related guidance endorsed by the Financial Supervisory Commission of the Republic of China. The standards, procedures and practices to audit such consolidated financial statements are those generally accepted and applied in the Republic of China. The independent auditors' report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of, the English and Chinese language independent auditors' report and consolidated financial statements, the Chinese version shall prevail.

Generalplus Technology Inc. And Its Subsidiaries
Consolidated Balance Sheet
At Dec. 31, 2025 and Dec. 31, 2024
Unit: NT$ thousands

Code	Current assets	Dec. 31, 2025		Dec. 31, 2024		Code	Liabilities and Equity	Dec. 31, 2025		Dec. 31, 2024
		Amount	%	Amount	%			Amount	%	Amount	%
1100	Current assets						Current Liabilities
1100	Cash and cash equivalents (Note 4 and 6)	$ 872,252	32	$ 874,576	30	2100	Short-term loans (Note 17)	$ 127,291	4	$ 75,078	2
1110	Financial assets measured at FVTPL - current (Note 4 and 7)	70,167	2	164,288	6	2170	Accounts payable (Note 18 and 29)	165,884	6	162,802	6
1170	Notes and accounts receivable (Note 4 and 10)	342,873	12	376,359	13	2230	Current income tax liabilities (Note 4 and 24)	33,692	1	50,761	2
1220	Current tax assets (Note 4 and 24)	8,575	-	-	-	2280	Lease liabilities - current (Note 4 and 14)	1,425	-	1,501	-
130X	Inventories (Note 4 and 11)	542,483	20	597,628	20	2300	Other current liabilities (Note 19 and 22)	157,152	6	220,025	7
1470	Other current assets (Note 4 and 16)	18,859	1	21,790	1	21XX	Total current liabilities	485,444	17	510,167	17
11XX	Total current assets	1,855,209	67	2,034,641	70
1535	Non-current assets					2580	Non-current liabilities
1535	Financial assets measured at amortized cost are assets (Note 4,8 and 9)	100,329	4	50,258	2	2640	Lease liabilities - non-current (Note 4 and 14)	30,135	1	30,492	1
1600	Property, plant and equipment (Note 4 and 13)	438,990	16	427,927	15	2645	Net defined benefit liability (Note 4 and 20)	13,290	1	13,013	1
1755	Right-of-use assets (Note 4 and 14)	29,391	1	30,089	1	25XX	Guarantee deposits	117,189	4	120,449	4
1780	Intangible assets (Note 4 and 15)	25,113	1	17,411	-		Total non-current liabilities	160,614	6	163,954	6
1840	Deferred tax assets (Note 4 and 24)	21,050	1	25,627	1
1990	Other non-current assets (Note 4, 16,30 and 31)	289,310	10	331,965	11	3110	Share capital Common shares	1,088,158	40	1,088,158	37
15XX	Total non-current assets	904,183	33	883,277	30	3200	Capital surplus Retained earnings	141,967	5	141,967	5
						3310	Legal reserve	596,981	22	571,814	20
						3320	Special reserve	35,993	1	55,438	2
						3350	Unappropriated retained earnings	283,929	10	422,413	14
						3300	Total retained earnings	916,903	33	1,049,665	36
						3400	Other equity	( 33,694 )	( 1 )	( 35,993 )	( 1 )
						3XXX	Total equity	2,113,334	77	2,243,797	77
							Total liabilities and equity	$ 2,759,392	100	$ 2,917,918	100
1XXX	Total current assets	$ 2,759,392	100	$ 2,917,918	100

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

Generalplus Technology Inc. And Its Subsidiaries
Consolidated Statement of Comprehensive Income
From Jan. 1 to Dec. 31, 2025 and from Jan. 1 to Dec. 31, 2024
Unit: NT$ thousands
Except the earnings per share is in NT$

Code		2025		2024
		Amount	%	Amount	%
4000	Operating revenue (Note 4,22 and 29)	$ 2,128,010	100	$ 2,461,895	100
5000	Operating costs (Note 4,11, 23 and 29)	1,417,015	67	1,560,091	63
5900	Gross profit	710,995	33	901,804	37
	Operating expense (Note 15, 20, 23 and 29)
6100	Selling and marketing	75,861	4	87,113	4
6200	General and administration	116,570	5	129,782	5
6300	Research and development	430,918	20	453,818	19
6000	Total operating expenses	623,349	29	670,713	28
6500	Other operating income and expenses, net (Note 23)	( 100 )	-	( 5 )	-
6900	Income from operations	87,546	4	231,086	9
	Non-operating Income and expenses (Note 4 and 23)
7100	Interest income	19,196	1	18,490	1
7010	Other income	38,179	2	6,009	-
7020	Other gains and losses	( 8,141 )	-	12,882	1
7050	Finance costs	( 10,585 )	(1)	( 14,389 )	(1)
7000	Non-operating income and expenses, net	38,649	2	22,992	1
7900	Net profit before income tax	126,195	6	254,078	10
7950	Income tax expense (Note 4 and 24)	13,844	1	7,191	-
8200	Net Profit for the Period	112,351	5	246,887	10
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Code		2025		2024
		Amount	%	Amount	%
	Other comprehensive income(Note 4,20 and 21)
8310	Items that will not be reclassified subsequently to profit or loss:
8311	Remeasurements of defined benefit plan	($ 277)	-	$ 4,783	-
8360	Items that may be reclassified subsequently to profit or loss:
8361	Exchange differences on Translation of the financial statements of foreign operations	2,299	-	19,445	1
8300	Other comprehensive income (net of income tax) for the year	2,022	-	24,228	1
8500	Total comprehensive income for the period	$ 114,373	5	$ 271,115	11
	Net profit attributable to
8610	The owners of the Company	$ 112,351	5	$ 246,887	10
8620	Non-controlling interests	-	-	-	-
8600		$ 112,351	5	$ 246,887	10
	The total comprehensive income attributable to
8710	The owners of the Company	$ 114,373	5	$ 271,115	11
8720	Non-controlling interests	-	-	-	-
8700		$ 114,373	5	$ 271,115	11
	Earnings per share (Note 25)
9750	Basic	$ 1.03		$ 2.27
9850	Diluted	$ 1.03		$ 2.25

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

Generalplus Technology Inc. And Its Subsidiaries
Consolidated Statements of Changes in Equity
From Jan. 1 to Dec. 31, 2025 and from Jan. 1 to Dec. 31, 2024
Units: In NT$1,000,
unless otherwise stated

Code		Share capital			Retained earnings			Other equity
		Number of shares (1,000 shares)	Amount	Capital surplus	Legal reserve	Special reserve	Unappropriated retained earnings	Exchange difference on translation of the financial statements of foreign operations	Total equity
A1	Balance as of Jan. 1, 2024	108,816	1,088,158	141,967	555,006	45,462	338,987	55,438	2,114,142
	Appropriation and distribution of earnings, 2023
B1	Legal reserve	-	-	-	16,808	-	( 16,808 )	-	-
B3	Special reserve	-	-	-	-	9,976	( 9,976 )	-	-
B5	Cash dividends for the shareholders of the Company	-	-	-	-	-	( 141,460 )	-	( 141,460 )
D1	Net income for 2024	-	-	-	-	-	246,887	-	246,887
D3	Other comprehensive income after income tax, 2024	-	-	-	-	-	4,783	19,445	24,228
D5	The total comprehensive income in 2024	-	-	-	-	-	251,670	19,445	271,115
Z1	Balance as of Dec. 31, 2024	108,816	1,088,158	141,967	571,814	55,438	422,413	( 35,993 )	2,243,797
	Appropriation and distribution of earnings, 2024
B1	Legal reserve	-	-	-	25,167	-	( 25,167 )	-	-
B5	Cash dividends for the shareholders of the Company	-	-	-	-	-	( 244,836 )	-	( 244,836 )
B17	Reversal of special reserve	-	-	-	-	( 19,445 )	19,445	-	-
D1	Net income for 2025	-	-	-	-	-	112,351	-	112,351
D3	Other comprehensive income after income tax, 2025	-	-	-	-	-	( 277 )	2,299	2,022
D5	The total comprehensive income, 2025	-	-	-	-	-	112,074	2,299	114,373
Z1	Balance as of Dec. 31, 2025	108,816	$ 1,088,158	$ 141,967	$ 596,981	$ 35,993	$ 283,929	($ 33,694 )	$ 2,113,334

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

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Generalplus Technology Inc. And Its Subsidiaries
Consolidated Statement of Cash Flows
From Jan. 1 to Dec. 31, 2025 and from Jan. 1 to Dec. 31, 2024
Unit: NT$ thousands

Code	Cash flow from operating activities	2025	2024
A10000	Net profit before income tax	$ 126,195	$ 254,078
A20010	Adjustments to reconcile profit (loss)
A20100	Depreciation expense	51,220	56,926
A20200	Amortization expense	33,954	24,724
A20400	Net gain on fair value changes of financial assets at FVTPL	( 1,308 )	( 1,492 )
A20900	Financial costs	10,585	14,389
A21200	Interest income	( 19,196 )	( 18,490 )
A22500	Loss on the disposal of property, plant and equipment	100	5
A23800	Gain from price recovery of inventory	( 20,000 )	( 1,000 )
A24100	Net loss(gain) on foreign currency exchange	1,669	3,982
A30000	Net changes in operating assets and liabilities
A31150	Decrease (increase) in notes receivable and accounts receivable	37,648	( 21,757 )
A31200	Decrease in inventories	75,145	17,643
A31240	Decrease (increase) in other current assets	1,642	( 3,017 )
A32150	Increase(decrease) in accounts payable	2,330	( 13,994 )
A32190	Decrease in other payables—related parties	-	( 317 )
A32230	Increase (decrease) in other current liabilities	( 60,144 )	79
A32240	Increase in net defined benefit liabilities	-	79
A33000	Cash from operating activities	239,840	311,838
A33100	Interest received	20,559	18,959
A33300	Interest paid	( 12,009 )	( 14,095 )
A33500	Income taxes paid	( 34,911 )	( 41,893 )
AAAA	Net cash inflow from operating activities	213,479	274,809
Cash flow from investing activities
B00040	Purchase of financial assets at AC	( 50,145 )	( 50,265 )
B00100	Purchase of financial assets at FVTPL	( 135,000 )	( 288,000 )
B00200	Sale of financial assets at FVTPL	230,429	188,828
B02700	Purchase of property, plant and equipment	( 43,448 )	( 30,266 )
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Code		2025	2024
B03700	Increase in refundable deposits	($ 500)	($ 803)
B03800	Decrease in refundable deposits	20,039	24,965
B04500	Acquisition of intangible assets	( 42,988)	( 29,517)
B06500	Increase in other financial assets	( 83,673)	( 94,465)
B06600	Decrease in other financial assets	83,673	89,961
B06700	Increase in other non-current assets	( 108)	-
B06800	Decrease in other non-current assets	-	2,183
BBBB	Net cash outflow from investing activities	( 21,721)	( 187,379)
	Cash flow from financing activities
C00100	Increase in short-term loans	1,115,175	1,107,846
C00200	Decrease in short-term loans	( 1,062,753)	( 1,061,611)
C03000	Proceeds from guarantee deposits received	3,911	3,714
C03100	Return of guarantee deposits received	( 2,309)	( 12,896)
C04020	Repayment of lease liabilities	( 2,386)	( 2,452)
C04500	Issuance of cash dividends	( 244,836)	( 141,460)
CCCC	Net cash outflow from financing activities	( 193,198)	( 106,859)
DDDD	Effect of the changes in exchange rate on cash and cash equivalents	( 884)	( 181)
EEEE	Net decrease in cash and cash equivalents	( 2,324)	( 19,610)
E00100	Beginning balance of cash and cash equivalents	874,576	894,186
E00200	Ending balance of cash and cash equivalents	$ 872,252	$ 874,576

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

Generalplus Technology Inc. And Its Subsidiaries
Consolidated Financial Statement Notes
From Jan. 1 to Dec. 31, 2025 and from Jan. 1 to Dec. 31, 2024
(Unless otherwise specified, the basic unit for any amount shall be NT$ thousands.)

COMPANY HISTORY

Generalplus Technology Inc. (hereinafter referred to as “Generalplus Inc.”) was established on March 30, 2004 and was approved by the Ministry of Economic Affairs. Generalplus Inc. moved to the Hsinchu Science Park in October 2007, and its main business includes research, development, design, manufacturing, and sales of high-end integrated circuit products. Generalplus Inc.’s stock was listed on the Taiwan Stock Exchange on November 1, 2011.

The consolidated financial statements are expressed in the Generalplus Inc.’s functional currency, New Taiwan Dollar.

As of the end of December 2025, the investment relationships and shareholding ratios between Generalplus Inc. and its subsidiaries included in the consolidated financial statements are as follows:

Generalplus Inc. and its subsidiaries included in the consolidated financial statements are collectively referred to as “the Company” below.

THE DATE WHEN THE FINANCIAL REPORTS WERE AUTHORIZED FOR ISSUANCE AND THE PROCESS INVOLVED

The consolidated financial statements were approved by the board of directors on February 25, 2026.

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3. APPLICABILITY OF NEWLY ISSUED & REVISED STANDARDS AND INTERPRETATION

(1) First-time application of International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), Interpretations (IFRIC) and Standing Interpretations Committee (SIC) as recognized and issued by the Financial Supervisory Commission (FSC) and effective for the current fiscal year.

Amendments to IAS 21 “Lack of Exchangeability”

The application of the Amendments to IAS 21 “Lack of Exchangeability” will not result in any significant change in the accounting policies of the Company.

(2) IFRSs recognized by the FSC applicable in 2026

New/amended/revised standards and interpretations	Effective date published by IASB (Note 1)
Amendments to IFRS 9 and IFRS 7 “Amendments to the Classification and Measurement of Financial Instruments”	Jan. 1,2026
Amendments to IFRS 9 and IFRS 7 “Contracts Referencing Nature-dependent Electricity”	Jan. 1,2026
Annual Improvements to IFRS Accounting Standards-Volume 11	Jan. 1,2026
IFRS 17 “Insurance Contracts” (Including the revisions for 2020 and 2021)	Jan. 1,2023

As of the date the consolidated financial statements were authorized for issue, the Company has assessed that the above amendments to the standards will not have a material impact on its financial position and financial performance.

(3) IFRSs announced by IASB but have not been approved as effective by the FSC

New/amended/revised standards and interpretations	Effective date published by IASB (Note 1)
Amendments to IFRS 10 and IAS 28 - “Sale or Contribution of Assets between an Investor and its Associate or Joint Venture”	To be determined.
IFRS 18 “Presentation and Disclosures in Financial Statements”	Jan. 1, 2027
IFRS 19 “Subsidiaries without Public Accountability Disclosures Standard” (Including the revisions for 2025)	Jan. 1, 2027
Amendments to IAS 21 “Translation to a presentation currency of a hyperinflationary economy”	Jan. 1, 2027

Note 1: Unless otherwise indicated, the above newly issued/ revised/ amended guidelines or interpretations are effective for annual reporting periods beginning on or after the respective dates.

Note 2: On September 25, 2025, the Financial Supervisory Commission (FSC) announced that IFRS 18 shall be applied by domestic companies starting January 1, 2028. Early adoption is permitted upon the FSC’s endorsement of IFRS 18.

IFRS 18 “Presentation and Disclosures in Financial Statements”

IFRS 18 will supersede IAS 1 “Presentation of Financial Statements”. The main changes comprise:

The Company shall assess whether it has specific main business activities of investing in certain types of assets and providing financing to customers, and accordingly classify the income and expense items in the statement of profit or loss into operating, investing, financing, income tax, and discontinued operations categories.
The statement of profit or loss shall present totals and subtotals for operating profit or loss, profit or loss before financing and income taxes and profit or loss.
Provides guidance to enhance the requirements of aggregation and disaggregation: The Group shall identify the assets, liabilities, equity, income, expenses and cash flows that arise from individual transactions or other events and shall classify and aggregate them into groups based on shared characteristics, so as to result in the presentation in the primary financial statements of line items that have at least one similar characteristic. The Group shall disaggregate items with dissimilar characteristics in the primary financial statements and in the notes. The Group labels items as ‘other’ only if it cannot find a more informative label.
Disclosures on Management-defined Performance Measures (MPMs): When in public communications outside financial statements and communicating to users of financial statements management’s view of an aspect of the financial performance of the Group as a whole, the Group shall disclose related information about its MPMs in a single note to the financial statements, including the description of such measures, calculations, reconciliations to the subtotal or total specified by IFRS Accounting Standards and the income tax and non-controlling interests effects of related reconciliation items.
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In addition, the following consequential amendments have been made to IAS 7 Statement of Cash Flows:

When the Company prepares cash flows from operating activities using the indirect method, operating profit or loss shall be used as the starting point for reconciliation.
Interest and dividends received by the Company shall be classified as investing activities, while interest and dividends paid shall be classified as financing activities. If the Company, upon assessment, determines that it has specific main business activities, it shall consider the categories in which dividend income, interest income, and interest expense are presented in the statement of profit or loss to determine the classification of dividends received, interest received, and interest paid in the statement of cash flows. However, each of the aforementioned cash flows shall be classified in only one category of the statement of cash flows.

In addition to the above effects, as of the date of issuance of the consolidated financial statements, the Company continues to assess the impact of revisions to other standards and interpretations on its financial position and financial performance, and any such impacts will be disclosed when the assessment is completed.

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(1) Statement of compliance

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

(2) Basis of preparation

Except for financial instruments measured at fair value and the net defined benefit liability recognized by deducting the fair value of plan assets measured at fair value from the present value of defined benefit obligations, the consolidated financial report is prepared on a historical cost basis.

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

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

(3) Standard in determining whether the asset or liability are current or non-current

Current assets include:
1. assets held mainly for transaction purposes;
2. assets to be realized within 12 months of the asset balance sheet; and
3. cash and cash equivalents (but not including cash used to exchange or clear liability within 12 months of the asset balance sheet).

Current liabilities include:
1. liabilities held mainly for transaction purposes;
2. liabilities due for payment within 12 months after the balance sheet date (current liabilities are classified as current even if a long-term refinancing or rescheduling agreement is completed after the balance sheet date and before the adoption of the financial statements); and
3. The liabilities on the balance sheet date does not have an substantive right to defer settlement of the liability for at least 12 months after the balance sheet date.

Assets or liabilities not classified within the above definitions will be classified as non-current assets and liabilities.

(4) Basis of consolidation

The consolidated financial statements incorporate the financial statements of the Company and the entities controlled by the Company (i.e. its subsidiaries), and the consolidated statement of comprehensive income includes the operating income or loss of the acquired or disposed subsidiaries for the period from the date of acquisition or up to the date of disposal. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the Company. All intra-group transactions, balances, income and expenses are eliminated in full upon consolidation.

See Note 12 and Tables 4 and 5 for the detailed information of subsidiaries (including the percentages of ownership and main businesses).

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(5) Foreign currency

When preparing financial statements, each entity translates transactions in currencies other than the functional currency of the entity (foreign currencies) into the functional currency at the exchange rates prevailing on the transaction dates.

Monetary items denominated in foreign currencies are translated at the closing rate at each balance sheet date. Exchange differences arising from the settlement of monetary items or the translation of monetary items are recognized in profit or loss in the period in which they occur.

Non-monetary items measured at fair value in foreign currencies are translated at the exchange rates prevailing on the date when the fair value was determined, and the resulting exchange differences are recognized in profit or loss in the current period. However, if the change in fair value is recognized in other comprehensive income, the resulting exchange differences are recorded as other comprehensive income.

Non-monetary items denominated in foreign currencies that are measured at historical cost are translated at the exchange rates ruling at the dates of transactions and are not retranslated.

For the purpose of preparing consolidated financial statements, assets and liabilities of foreign operations (including subsidiaries that operate in countries or currencies different from those of the Company) are translated into New Taiwan Dollars at the exchange rates prevailing on each balance sheet date. Income and expense items are translated at the average exchange rate for the period and the resulting exchange differences are included in other comprehensive income.

(6) Inventory

Inventory includes raw materials, finished goods, work-in-process and merchandise. Inventories are measured at the lower of cost or net realizable value. Comparisons between cost and net realizable value are made on an item-by-item basis, except for inventories of the same type. Net realizable value is the estimated selling price under normal circumstances, less estimated costs to complete and estimated costs to sell. The cost of inventories is calculated using the weighted-average method.

(7) Property, plant and equipment

Property, plant, and equipment are recognized at cost and subsequently measured at the amount after deducting accumulated depreciation.

Depreciation is calculated using the straight-line method over the useful life of the asset, and each significant portion is separately depreciated. The Company reviews

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the estimated useful life, residual value, and depreciation method at the end of each fiscal year and defers the impact of accounting estimate changes.

The difference between the net disposal proceeds and the carrying amount of the asset is recognized in profit or loss when property, plant, and equipment are derecognized.

(8) Intangible assets

Acquired separately

When the Company acquires intangible assets with limited useful lives separately, it recognizes them initially at cost and subsequently measures them at cost less accumulated amortization. The amortization is recognized on a straight-line basis over the useful life of the intangible asset. To ensure the accuracy of the accounting estimates, the Company reviews the estimated useful lives, residual values, and amortization methods at the end of each fiscal year and defers the impact of any changes in accounting estimates.

Derecognition

The difference between the net disposal proceeds and the carrying amount of the asset is recognized in profit or loss of the year when intangible assets are derecognized.

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

The Company evaluates on each balance sheet date whether there are any indications that the carrying amounts of its property, plant and equipment, right-of-use assets and intangible assets may be impaired. If any indication of impairment exists, the estimated recoverable amount of the asset is determined. If it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. For jointly-used assets, they are allocated to the individual cash-generating units on a rational and consistent basis.

The recoverable amount is the higher fair value less selling cost and use value. If the recoverable amount of an individual asset or cash generating unit is less than its carrying amount, the carrying amount of the asset or cash generating unit shall be reduced to its recoverable amount, with the impairment loss recognized in profit or loss.

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When the following recoverable amount increases, the carrying amount of the asset or cash generating unit increases to the amount that can be recovered after the revision. However, the increased carrying amount shall not exceed that (minus amortization or depreciation) determined by the asset or cash generating unit where the impairment loss was not recognized in the previous year. The reversal of impairment loss is recognized in profit or loss.

(10) Financial instruments

Financial assets and financial liabilities are recognized in the consolidated balance sheet when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets

The transaction practice of the financial assets adopts accounting recognition and de-recognition on the transaction day.

(1) Measurement types

The types of financial assets held by the Company are financial assets at fair value through profit or loss and financial assets at amortized cost.

A. Financial assets measured at FVTPL

Financial assets measured at FVTPL include financial assets mandatorily measured at FVTPL. Financial assets mandatorily classified as at FVTPL include investments in equity instruments which are not designated as at FVTOCI.

Financial assets measured at fair value through profit or loss are measured at fair value, with remeasurement gains or losses recognized in other gains and losses. For the determination of fair value, please refer to Note 28.

B. Financial assets at amortized cost

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The Company’s investments in financial assets are classified as financial assets measured at amortized cost if both of the following conditions are met:

a. they are held within an operating model whose objective is to hold the financial assets to collect the contractual cash flows; and
b. the contractual terms give rise to cash flows at a specific date, which are solely payments of principal and interest on the principal amount outstanding.

Financial assets measured at amortized cost (including cash and cash equivalents, debt instrument investments, accounts receivable measured at amortized cost, other receivables, other financial assets, refundable deposits, and restricted assets) are measured at amortized cost less any impairment losses, determined using the effective interest method, after the original recognition. Any foreign exchange gains or losses are recognized in profit or loss.

Interest income is calculated by multiplying the effective interest rate by the total carrying amount of the financial assets, except in the following two cases:

a. Interest income on credit-impaired financial assets acquired or created is calculated by multiplying the credit-adjusted effective interest rate by the amortized cost of the financial assets.
b. Interest income on credit-impaired financial assets that are not acquired or originated but subsequently become credit-impaired is computed using the effective interest rate multiplied by the amortized cost of the financial assets from the next reporting period after the impairment.

A credit-impaired financial asset is one for which the issuer or the debtor has experienced significant financial difficulties, defaulted, it is probable that the debtor will declare bankruptcy or other financial reorganization, or an active market for the financial asset has disappeared due to financial difficulties.

Cash equivalents include time deposits that are highly liquid, readily convertible into known amounts of cash and subject to a low risk of

23 -

changes in value within 12 months from the date of acquisition and are used to meet short-term cash commitments.

(2) Impairment of financial assets

The Company evaluates the impairment losses of financial assets measured at amortized cost (including accounts receivable) on each balance sheet date based on expected credit losses.

An allowance for credit losses is recognized for accounts receivable based on the expected credit losses over the remaining period. For other financial assets, the credit risk is assessed to determine whether there has been a significant increase since the initial recognition. If there is no significant increase, an allowance is recognized for 12-month expected credit losses. If there is a significant increase, an allowance is recognized for expected credit losses over the remaining period.

The expected credit losses are the weighted average of credit losses based on the probability of default. The 12-month expected credit losses represent the expected credit losses from possible defaults within 12 months after the reporting date, while the expected credit losses over the remaining period represent the expected credit losses from possible defaults during the expected remaining period of the financial assets.

For internal credit risk management purposes, the Company determines that a financial asset has defaulted without considering the collateral held if any of the following conditions exist:

A. Internal or external information shows that the debtor is unlikely to settle its debts.

B. The payment is overdue by more than 30 days unless there is reasonable and demonstrable information indicating that a later default criterion is more appropriate.

The impairment losses of all financial assets are adjusted through an allowance account to reduce their carrying amounts.

(3) Derecognition of financial assets

The Company derecognizes financial assets only when the contractual rights to the cash flows from the financial assets have lapsed or when the financial assets have been transferred and substantially all the risks and

24 -

rewards of ownership of the assets have been transferred to other enterprises.

When financial assets are derecognized in their entirety at amortized cost, the difference between the carrying amount and the consideration received is recognized in profit or loss.

Equity instruments

The equity instruments issued by the Company are classified as financial liabilities or equity instruments based on the substance of the contractual agreement and the definition of equity instruments.

The amount received for the equity instruments issued by the Company is recognized by deducting the directly attributable costs of the issue.

Financial liabilities

(1) Subsequent measurement

All financial liabilities are measured at amortized cost using the effective interest method.

(2) Derecognition of financial liabilities

Any difference between the carrying amount of a financial liability derecognized and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss.

(11) Provision for liabilities

The amount recognized as provision for liabilities is the best estimate of the amount required to settle the obligation as of the balance sheet date, taking into account the risks and uncertainties associated with the obligation. The provision for liabilities is measured using the discounted value of the estimated cash flows required to settle the obligation.

(12) Revenue recognition

After identifying the performance obligations in customer contracts, the Company allocates the transaction price to each performance obligation and recognizes revenue when each performance obligation is satisfied.

Revenue from sales of goods

Revenue from sales of goods comes from sales of integrated circuit (IC) products. Since customers have already established the price and the right to use the product, and assume the primary responsibility for resale and the risk of obsolescence when

25 -

the IC products are shipped or delivered to the customer’s designated location, the Company recognizes revenue and accounts receivable at that point in time.

Revenue is not recognized when materials are removed for processing because control of the processed product has not been transferred.

(13) Leasing

On the contract establishment date, the Company evaluates whether the contract is a lease (or contains a lease).

The Company as a lessee:

For leases other than low-value and short-term leases that qualify for recognition exemptions, lease payments are recognized as expenses on a straight-line basis over the lease term. For all other leases, the right-of-use asset and lease liability are recognized on the lease commencement date.

The right-of-use asset is initially measured at cost, which includes the initial measurement of the lease liability, any lease payments made before the lease commencement date less any lease incentives received, initial direct costs, and estimates of the costs of dismantling and removing the underlying asset. Subsequently, it is measured at cost less accumulated depreciation and impairment losses, and adjusted for any remeasurement of the lease liability. The right-of-use asset is presented separately on the balance sheet as an individual asset.

Depreciation is recognized on a straight-line basis over the shorter of the lease term and the asset’s useful life.

The lease liability is initially measured at the present value of lease payments, including payments that depend on an index or rate. If the implicit interest rate is readily determinable, the lessee uses that rate to discount the lease payments. If not, the lessee uses its incremental borrowing rate.

Subsequently, the lease liability is measured at amortized cost using the effective interest method, and interest expense is recognized over the lease term. If changes in the lease term or the index or rate used to determine lease payments result in changes to future lease payments, the lease liability is remeasured, and the right-of-use asset is correspondingly adjusted. However, if the carrying amount of the right-of-use asset has been reduced to zero, any remaining remeasurement amount is recognized in profit or loss. The lease liability is presented separately on the balance sheet as an individual liability.

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(14) Borrowing costs

Borrowing costs are recognized as expenses in the period in which they are incurred.

(15) Government grants

Government grants are recognized only when it is reasonable to believe that the Company will comply with the conditions attached to the grants and the grants will be received.

Government grants related to income are recognized systematically in the income statement over the period necessary to match them with the related costs that they are intended to compensate.

If a government grant is used to compensate for expenses or losses that have already occurred, or is intended to provide immediate financial support to the Company with no future related costs, it is recognized in the income statement in the period in which it becomes receivable.

(16) Employee benefits

Short-term employee benefits

Short-term employee benefits related liabilities are measured at the non-discounted amount expected to be paid in exchange for employee services.

Post-employment benefits

The defined retirement benefits provided by the Company’s retirement plan are recognized as expenses in the amount of retirement benefits that should be allocated during the period of employee service.

The defined benefit cost of the defined benefit retirement plan (including service cost, net interest, and re-measurement amounts) is calculated using the projected unit credit method. Service costs (including current service costs) and net defined benefit liabilities (assets) net interest are recognized as employee benefit expenses when they occur. Re-measurement amounts (including actuarial gains and losses and plan asset returns after deducting interest) are recognized in other comprehensive income when they occur and included in retained earnings, and are not reclassified to profit or loss in subsequent periods.

Net defined benefit liabilities (assets) refer to the remaining balance of the provision for the defined benefit retirement plan. The net defined benefit assets cannot exceed the present value of the plan’s refundable contributions or the reduced future contributions.

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(17) Income tax

Income tax expense is the sum of current income taxes and deferred income taxes.

Current income tax

The Company determines the current income (loss) in accordance with the regulations of each jurisdiction in which it files income tax returns and calculates the income tax payable (recoverable) accordingly.

The income tax on undistributed earnings under the Income Tax Act of the ROC is recognized in the year of the resolution of the shareholders' meeting.

Adjustments to prior years' income tax payable are included in the current period's income tax.

Deferred income tax

Deferred income tax is calculated based on the temporary differences between the carrying amount of assets and liabilities on the books and the basis for the calculation of taxable income.

Deferred tax liabilities are generally recognized for all temporary differences in taxable income, while deferred tax assets are recognized when there is a high likelihood that the taxable income will be used as a tax deduction for deductible temporary differences.

Deferred income tax liabilities are recognized for taxable temporary differences associated with investments in subsidiaries, except where the Company can control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred income tax assets are recognized for deductible temporary differences associated with such investments only to the extent that it is probable that sufficient taxable income will be available to allow the temporary differences to be realized and the temporary differences are expected to reverse in the foreseeable future.

The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced for those where it is no longer probable that there will be sufficient taxable income to allow all or part of the assets to be recovered. Deferred tax assets not previously recognized as such are also reviewed at each balance sheet date and the carrying amount is increased for those where it is probable that taxable income will be available to recover all or part of the assets.

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Deferred tax assets and liabilities are measured by the tax rate of the expected liabilities settlement or assets realization in the current period, according to the tax rate and the tax law which have been legalized or substantively legalized on the balance sheet date. The measurement of deferred tax liabilities and assets reflects the tax consequences of the way in which the Company is expected to recover or pay off the carrying amount of its assets and liabilities on the balance sheet date.

Current and deferred tax

The current and deferred tax are recognized in profit or loss.

PRIMARY SOURCES OF UNCERTAINTY IN MAJOR ACCOUNTING JUDGMENTS, ESTIMATES, AND ASSUMPTIONS

When the Company adopts an accounting policy, management must make relevant judgments, estimates, and assumptions of relevant information that is difficult to obtain from other sources based on historical experience and other relevant factors.

In developing significant accounting estimates, the Company has considered the potential impacts of the United States reciprocal tariff measures in its assessments of major assumptions, including projected cash flows, growth rates, discount rates and profitability. Management will continue to review the estimates and underlying assumptions.

Based on management's assessment, the accounting policies, estimates and underlying assumptions adopted by the Company do not involve significant accounting judgments, estimates, or uncertainties in assumptions.

CASH AND CASH EQUIVALENTS

	Dec. 31, 2025	Dec. 31, 2024
Cash on hand and working capital	$ 3,125	$ 3,497
Checks and demand deposits	176,127	101,079
Cash equivalents
Time deposits in banks	693,000	770,000
	$ 872,252	$ 874,576

The market interest rate range for bank deposits as of the balance sheet date was as follows:

Bank deposit	Dec. 31, 2025	Dec. 31, 2024
	0.01%~1.62%	0.01%~1.60%

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FINANCIAL INSTRUMENTS MEASURED AT FVTPL

	Dec. 31, 2025	Dec. 31, 2024
Financial assets - current
Mandatorily measured at FVTPL
Non-derivative financial assets
-Fund beneficiary certificate	$ 70,167	$164,288

FINANCIAL ASSETS MEASURED AT AMORTIZED COST ARE ASSETS

	Dec. 31, 2025	Dec. 31, 2024
Uncurrent
Domestic investment
-Corporate bonds	$100,329	$ 50,258

In November 2024, our company purchased 5-year corporate bonds issued by Taiwan Power Company with a par value of NT$50 million. The coupon rate is 1.90%, and the effective interest rate is 1.76%.

In December 2025, our company purchased 5-year corporate bonds issued by Taiwan Semiconductor Manufacturing Company Limited with a par value of NT$50 million. The coupon rate is 1.54%, and the effective interest rate is 1.41%.

Refer to Note 9 for information relating to credit risk management and expected credit loss for financial assets at amortized cost.

CREDIT RISK MANAGEMENT OF DEBT INSTRUMENT INVESTMENTS

The Company's debt instruments are financial assets measured at amortized cost :

	Dec. 31, 2025	Dec. 31, 2024
Total carrying amount	$ 100,329	$ 50,258
Allowance for loss
Amortized cost	-	-
	$ 100,329	$ 50,258

Our company only invests in debt instruments with a credit rating of investment grade or higher and that are considered to have low credit risk under impairment assessment. The credit rating information is provided by independent rating agencies. We continuously monitor external rating information to track changes in the credit risk of the invested debt instruments. Additionally, we review other information such as bond yield curves and

significant disclosures from debtors to assess whether there has been a significant increase in credit risk since initial recognition.

In assessing the 12-month expected credit loss or lifetime expected credit loss of debt instrument investments, our company considers the historical default probabilities and loss given default associated with each rating category provided by external rating agencies, the current financial status of the debtor, and the industry outlook in which the debtor operates.

Our current internal credit risk rating framework is as follows:

Credit Rating	Definition	Basis for Expected Credit Loss Recognition	Expected Credit Loss Rate
The debtor has low credit Performing risk and sufficient ability to meet contractual cash flows.		12-month expected credit loss	-

10. NOTES AND ACCOUNTS RECEIVABLE (INCLUDING RELATED PARTIES)

	Dec. 31, 2025	Dec. 31, 2024
Accounts receivable
Measured at amortized cost
Total carrying amount
Non-related party	$342,873	$376,359
Less: allowance for loss	-	-
	$342,873	$376,359

The main credit period for the Company's sales of goods is 30 to 45 days with no interest charged on accounts receivable. The Company continuously monitors credit exposure and the credit rating of counterparties. To mitigate credit risk, the Company's management assigns a dedicated team to make decisions on credit limits, credit approvals, and other monitoring procedures to ensure appropriate actions are taken to collect overdue accounts receivable. In addition, the Company reviews the recoverable amounts of accounts receivable on a case-by-case basis as of the balance sheet date to ensure that appropriate impairment losses have been recognized for uncollectible accounts. Accordingly, the Company's management believes that credit risk has been significantly reduced.

The Company recognizes provisions for doubtful accounts based on expected credit losses over the remaining life of the receivables. The expected credit losses over the remaining life of the receivables are calculated using an expected loss matrix that

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considers customers' past default records and current financial conditions, as well as industry and economic conditions. As the Company's historical experience with credit losses indicates no significant differences in loss patterns among different customer groups, the expected loss matrix does not differentiate among customer groups and only sets expected credit loss rates based on the number of days past due for accounts receivable.

If there is evidence that counterparties are facing severe financial difficulties and the Company cannot reasonably expect to recover the amounts due, the Company writes off the relevant accounts receivable directly, but continues to pursue collection activities. The amount collected from the recovery is recognized in profit or loss.

The Company's provisions for doubtful accounts for accounts receivable are measured based on the expected loss matrix as follows:

Dec. 31, 2025

	Not overdue	Overdue 1-30 days	Overdue 31-90 days	Overdue 91-180 days	Total
Expected credit losses	-	-	-	-	-
Total carrying amount	$ 342,873	$ -	$ -	$ -	$ 342,873
Allowance for loss (lifetime expected credit losses)	-	-	-	-	-
Amortized cost	$ 342,873	$ -	$ -	$ -	$ 342,873

Dec. 31, 2024

	Not overdue	Overdue 1-30 days	Overdue 31-90 days	Overdue 91-180 days	Total
Expected credit losses	-	-	-	-	-
Total carrying amount	$ 376,359	$ -	$ -	$ -	$ 376,359
Allowance for loss (lifetime expected credit losses)	-	-	-	-	-
Amortized cost	$ 376,359	$ -	$ -	$ -	$ 376,359

INVENTORY

	Dec. 31, 2025	Dec. 31, 2024
Finished goods and merchandise	$155,116	$135,303
Work in progress	197,549	245,734
Raw materials	189,818	216,591
	$542,483	$597,628

The nature of cost of goods sold is as follows:

	2025	2024
Cost of inventories sold	$ 1,437,015	$ 1,560,091
Inventory write-downs and gain from price recovery	( 20,000)	( 1,000)
	$1,417,015	$1,560,091

The reversal of the write-down of inventories to net realizable value was due to the disappearance of the factors that had previously caused the net realizable value of inventories to fall below cost.

12. SUBSIDIARIES

(1) The subsidiaries listed in the consolidated financial statements

The consolidated financial statements were prepared based on the information of the following companies:

Name of the Investment Company	Name of Subsidiary	Nature of business	Shareholding percentage
			Dec. 31, 2025	Dec. 31, 2024	Remark
Generalplus Technology Inc.	Generalplus International (Samoa) Inc.	Investment	100%	100%	-
Generalplus International (Samoa) Inc.	Generalplus (Mauritius) Inc.	Investment	100%	100%	-
Generalplus (Mauritius) Inc.	Generalplus Technology (Shenzhen) Co., Ltd.	Development of IC product applications, sales, after-sales service, and market research and survey	100%	100%	-
	Generalplus Technology (HK)Co., Ltd.	Marketing	100%	100%	-

13. PROPERTY, PLANT AND EQUIPMENT

	Buildings	Accessories and equipment attached to buildings	Machinery and equipment	Testing equipment	Tools and machinery for production	Leasehold Improvements	Other equipment	Total
Cost
Balance on Jan. 1, 2025	$556,360	$103,827	$11,892	$536,853	$78,915	$48	$2,824	$1,290,719
Add	-	-	15,586	41,265	2,177	-	6	59,034
Disposal	-	-	-	(99)	(4,190)	-	-	(4,289)
Net exchange difference	1,211	49	-	27	57	(2)	11	1,353
Balance on Dec. 31, 2025	$557,571	$103,876	$27,478	$578,046	$76,959	$46	$2,841	$1,346,817
Accumulated depreciation
Balance on Jan. 1, 2025	$145,493	$102,872	$11,013	$526,404	$74,138	$48	$2,824	$862,792
Add	12,411	420	3,477	30,356	1,925	-	1	48,590
Disposal	-	-	-	(96)	(4,093)	-	-	(4,189)
Net exchange difference	503	49	-	26	47	(2)	11	634
Balance on Dec. 31, 2025	$158,407	$103,341	$14,490	$556,690	$72,017	$46	$2,836	$907,827
Dec. 31, 2025-net	$399,164	$535	$12,988	$21,356	$4,942	$-	$5	$438,990
Cost
Balance on Jan. 1, 2024	$546,197	$103,225	$11,892	$512,509	$91,929	$45	$2,729	$1,268,526
Add	-	193	-	28,945	1,128	-	-	30,266
Disposal	-	-	-	(4,825)	(14,732)	-	-	(19,557)
Net exchange difference	10,163	409	-	224	590	3	95	11,484
Balance on Dec. 31, 2024	$556,360	$103,827	$11,892	$536,853	$78,915	$48	$2,824	$1,290,719

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Accumulated depreciation
Balance on Jan. 1, 2024	$130,863	$101,012	$ 8,640	$ 495,640	$ 86,220	$ 45	$ 2,479	$ 824,899
Add	12,588	1,484	2,373	35,373	2,124	-	257	54,199
Disposal	-	-	-	( 4,822 )	( 14,730 )	-	-	( 19,552 )
Net exchange difference	2,042	376	-	213	524	3	88	3,246
Balance on Dec. 31, 2024	$145,493	$102,872	$ 11,013	$526,404	$ 74,138	$ 48	$ 2,824	$862,792
Dec. 31, 2024-net	$410,867	$ 955	$ 879	$ 10,449	$ 4,777	$ -	$ -	$427,927

No impairment losses were recognized in 2025 and 2024.

Depreciation expense is depreciated on a straight-line basis over the following number of years of useful life:

Buildings	42-46 years
Accessories and equipment attached to buildings	4-10 years
Machinery and Equipment	4 years
Testing equipment	1-10 years
Tools and machinery for production	1-5 years
Leasehold
Improvements	4-5 years
Other equipment	10 years

14. LEASE AGREEMENT

(1) Right-of-use assets

	Dec. 31, 2025	Dec. 31, 2024
Right-of-use assets Carrying amount
Lands and buildings	$ 29,391	$ 30,089
	2025	2024
Right-of-use assets-add	$ -	$ 3,206
Right-of-use assets-Depreciation expense
Lands and buildings	$ 2,630	$ 2,727

(2) Lease liabilities

	Dec. 31, 2025	Dec. 31, 2024
Lease liabilities Carrying amount
Current	$ 1,425	$ 1,501
Non-current	$ 30,135	$ 30,492

The discount rate range for the lease liabilities is as follows.

Lands and buildings	Dec. 31, 2025	Dec. 31, 2024
	2.39%~5.00%	2.39%~5.63%

(3) Important Tenant Activities and Terms

The Company leases land and buildings for use as factories and offices for a period of 20 years. The land lease in Taiwan is based on the announced land price for rent adjustment. There is no preferential purchase right for the land and buildings leased by the Company at the end of the lease term.

(4) Other leasing information

	Dec. 31, 2025	Dec. 31, 2024
Short-term lease expenses	$ 4,103	$ 4,618
Total amount of cash (outflow) from lease	($ 7,200)	($ 7,827)

The Company has chosen to apply exemption for short-term leases of parking spaces and other leases, and does not recognize the related right-of-use assets and lease liabilities for such leases.

INTANGIBLE ASSETS

	Cost of computer software	Technology licensing cost	Patent rights	Total
Cost
Balance on Jan. 1, 2025	$ 368,238	$ 400,188	$ 17,130	$ 785,556
Acquired separately	29,704	11,953	-	41,657
Net exchange difference	12	-	-	12
Balance on Dec. 31, 2025	$ 397,954	$ 412,141	$ 17,130	$ 827,225
Accumulated amortization
Balance on Jan. 1, 2025	$ 359,065	$ 394,921	$ 14,159	$ 768,145
Amortization expense	27,544	5,718	692	33,954
Net exchange difference	13	-	-	13
Balance on Dec. 31, 2025	$ 386,622	$ 400,639	$ 14,851	$ 802,112
Dec. 31, 2025-net	$ 11,332	$ 11,502	$ 2,279	$ 25,113

36 -

Cost
Balance on Jan. 1, 2024	$ 342,954	$ 394,544	$ 17,130	$ 754,628
Acquired separately	25,204	5,644	-	30,848
Net exchange difference	80	-	-	80
Balance on Dec. 31, 2024	$ 368,238	$ 400,188	$ 17,130	$ 785,556
Accumulated amortization
Balance on Jan. 1, 2024	$ 337,153	$ 392,761	$ 13,434	$ 743,348
Amortization expense	21,839	2,160	725	24,724
Net exchange difference	73	-	-	73
Balance on Dec. 31, 2024	$ 359,065	$ 394,921	$ 14,159	$ 768,145
Dec. 31, 2024-net	$ 9,173	$ 5,267	$ 2,971	$ 17,411

The cost is amortized on a straight-line basis over the following useful lives:

Computer software	1-5 years
Technology licensing	1-5 years
Patent rights	8-18 years

Amortization expense listed by function:

	2025	2024
Operating costs	$ 754	$ -
Selling and marketing expenses	182	498
General and administrative expense	215	574
Research and development expenses	32,803	23,652
	$ 33,954	$ 24,724

16. OTHER ASSETS

	Dec. 31, 2025	Dec. 31, 2024
Current
Other receivables	$ 7,311	$ 8,185
Income tax refund receivable	5,360	4,381
Prepayments	3,260	6,738
Prepayments for goods	1,348	-
Others	1,580	2,486
	$ 18,859	$ 21,790
Non-current
Other financial assets-time deposits in banks	$220,304	$219,422
Refundable deposits (Note 31)	63,335	88,790
Restricted assets (Note 30)	3,000	3,000
Prepayments for purchases	2,671	20,753
	$289,310	$331,965

The main other financial asset is the time deposit that Generalplus Shenzhen and banks have undertaken. As of December 31, 2025 and 2024, the amounts were all RMB49,000 thousand, respectively. The deposit periods are 2 to 3 years, and interest can be collected at a fixed interest rate according to the deposit period.

Advance payments are mainly prepayments made under capacity cooperation agreements signed between the Company and its suppliers. The advance payments made according to the contractual provisions will be offset against the payment for goods over a period of five years, subject to the fulfillment of the production capacity conditions stipulated in the contract.

LOAN

(1) Short-term loans

	Dec. 31, 2025	Dec. 31, 2024
Unsecured borrowings
Line of credit loans	$127,291	$ 75,078

The interest rate for revolving loans from banks as of December 31, 2025 and 2024 is 4.48%~4.60% and 5.49%~5.70%.

ACCOUNTS PAYABLE

	Dec. 31, 2025	Dec. 31, 2024
Accounts payable
Generated from operating activities
Non-related parties	$165,817	$162,338
Related parties (Note 29)	67	464
	$165,884	$162,802

The average accounts payable period for this Company's business-related expenses is between 30 and 60 days. The Company has established a financial risk management policy to ensure that all accounts payable are settled within the agreed credit period.

OTHER LIABILITIES

	Dec. 31, 2025	Dec. 31, 2024
Current
Salaries, bonuses and rewards payable to employees	$120,626	$173,163
Labor insurance premiums payable	13,004	13,972
Refund liabilities (Note)	1,118	6,401
Others	22,404	26,489
	$157,152	$220,025

Note: These refer to related product returns and discounts. Based on historical experience, management judgment, and other known reasons, the Company estimates the possible occurrence of product returns and discounts and records them as a deduction from revenue in the period in which the relevant products are sold.

20. BENEFITS AFTER RETIREMENT PLAN

(1) Defined contribution plan

The retirement plan that the Company adopts under the “Labor Pension Act” is a government-managed defined contribution retirement plan. The Company contributes 6% of each employee’s monthly salary to their individual account with the Labor Insurance Bureau for retirement purposes.

(2) Defined benefit plan

Sunplus mMedia Inc. (a subsidiary of Sunplus Technology Co., Ltd.) transferred its MP3, PMP, and DPF product business units to the Company on December 1, 2009, based on the regulations of the Business Mergers and Acquisitions Act. Sunplus mMedia Inc. also transferred its employees in these product business units to the Company. The Company assumes the employees’ years of service, retirement conditions, and related rights and obligations in accordance with the Labor Standards Act.

The retirement plan that the Company implements in accordance with the Labor Standards Act is a government-managed defined benefit retirement plan. The calculation of employee retirement benefits is based on their years of service and the average salary for the six months prior to their approved retirement date. The Company contributes 2% of the total monthly salary to the employee retirement fund, which is deposited into a dedicated account with the Bank of Taiwan in the name of the Supervisory Committee of Business Entities’ Labor Retirement Reserve. Before the end of each year, the Company assesses whether the balance in the designated pension account is sufficient to pay the pensions of employees expected to qualify for retirement in the following year. If the balance is insufficient, the Company shall make a one-time contribution to cover the shortfall by the end of March of the following year. The account is managed by the Bureau of Labor Funds under the Ministry of Labor, and the Company has no authority over the investment management strategy.

38 -

The amounts included in the consolidated balance sheets for defined benefit plans are shown below:

	Dec. 31, 2025	Dec. 31, 2024
Current value of defined benefit obligations	$ 28,251	$ 26,685
Fair value of plan assets	( 14,961 )	( 13,672 )
Net defined benefit liability	$ 13,290	$ 13,013

Changes in the net defined benefit liabilities are as follows:

| | Defined Benefits
Present Value
of Volunteer
Services | Plan assets
Fair value | Net defined
benefit
Liabilities |
| --- | --- | --- | --- |
| Balance on Jan. 1, 2024 | $ 30,014 | ($ 12,297) | $ 17,717 |
| Interest expense (income) | 390 | ( 161) | 229 |
| Recognized in profit or losses | 390 | ( 161) | 229 |
| Remeasurements | | | |
| Return on plan assets
(except the amount included in net interest) | - | ( 1,064 ) | ( 1,064 ) |
| Actuarial (gain) loss | | | |
| -Changes in financial assumptions | ( 578 ) | - | ( 578 ) |
| -Experience adjustments | ( 3,141 ) | - | ( 3,141 ) |
| Recognized in other comprehensive income | ( 3,719 ) | ( 1,064) | ( 4,783 ) |
| Distribution by the employer | $ - | ($ 150) | ($ 150) |
| Dec. 31, 2024 | 26,685 | ( 13,672) | 13,013 |
| Interest expense (income) | 353 | ( 220) | 133 |
| Recognized in profit or losses | 353 | ( 220) | 133 |
| Remeasurements | | | |
| Return on plan assets
(except the amount included in net interest) | - | ( 936 ) | ( 936 ) |
| Actuarial (gain) loss | | | |
| -Changes in financial assumptions | 591 | - | 591 |
| -Experience | 622 | - | 622 |

40 -

adjustments
Recognized in other comprehensive income
Distribution by the employer
Dec. 31, 2025

1,213 ( 936) 277
- - ( 133) ( 133)
$ 28,251 ($ 14,961) $ 13,290

The amounts recognized in profit or loss for defined benefit plans are summarized by function as follows:

	2025	2024
Research and development expenses	$ 133	$ 223

The Company is exposed to the following risks under the defined benefit plan in accordance with the Labor Standards Act:

Investment risk: The Supervisory Committee of Business Entities' Labor Retirement Reserve, through its own management and commissioned management, invests the labor retirement funds in domestic (foreign) equity securities, debt securities, bank deposits, and other targets. However, the distribution of plan assets by the Company is based on a return calculated at no less than the local bank's two-year fixed deposit interest rate.
Interest rate risk: A decrease in the interest rate of government bonds will increase the present value of defined benefit obligations, but the return on investment in plan assets will also increase, partially offsetting the effect on the net defined benefit liability.
Salary risk: The present value of the defined benefit obligation is calculated with reference to the future salaries of plan members. An increase in plan members' salaries will increase the present value of the defined benefit obligation.

The present value of the Company's defined benefit obligation is determined by a qualified actuary, and the significant assumptions used in the calculation are as follows:

	Dec. 31, 2025	Dec. 31, 2024
Discount rate	1.300%	1.600%
Expected growth rate of salary	3.625%	3.625%
Turnover rate	2%~26%	2%~26%

If there is a reasonable possibility of significant changes in the actuarial assumptions, while all other assumptions remain constant, the increase (decrease) in the present value of the defined benefit obligation would be as follows:

	Dec. 31, 2025	Dec. 31, 2024
Discount rate
Increase by 0.25%	($ 498)	($ 493)
Decrease by 0.25%	$ 512	$ 507
Expected growth rate of salary
Increase by 1%	$ 1,995	$ 1,986
Decrease by 1%	($ 1,829)	($ 1,811)

Due to the possible correlation between actuarial assumptions, it is unlikely that a single assumption will change, so the sensitivity analysis above may not reflect the actual changes in the present value of defined benefit plan.

	Dec. 31, 2025	Dec. 31, 2024
Amount to be distributed within 1 year	$ 133	$ 133
Average due period for defined benefit obligations	7 years	8 years

21. EQUITY

(1) Share Capital

Common share

	Dec. 31, 2025	Dec. 31, 2024
Number of shares authorized (1,000 shares)	140,000	140,000
Authorized share capital	$1,400,000	$1,400,000
Number of issued and fully paid shares (1,000 shares)	108,816	108,816
Share capital of issued shares	$1,088,158	$1,088,158

The par value of the issued common stock is NT$10 per share, and each share has one voting right and the right to receive dividends.

The reserved capital in the designated capital stock for employee stock option certificates is 10,000 thousand shares.

(2) Capital surplus

	Dec. 31, 2025	Dec. 31, 2024
May be used to offset losses, distribute cash dividends, or be capitalized into share capital(1)
Issuance of ordinary shares	$141,967	$141,967

The capital surplus may be used to offset losses, and may also be used to distribute cash or increase capital when the Company is not in deficit. However, when increasing capital, the annual limit is determined by a certain percentage of the paid-in capital.

(3) Retained earnings and dividend policy

According to the profit distribution policy stipulated in the Company's pre-revised articles of association, if there is a profit after the annual settlement, in addition to paying the business income tax in accordance with the law and offsetting losses from previous years, 10% of the legal reserve shall be allocated first, but this limit does not apply if the legal reserve has reached the total capital amount. Then, in accordance with laws and regulations or the regulations of the competent authority, the remaining profits, together with the accumulated undistributed profits from the previous period, shall be distributed to the shareholders as dividends after the board of directors proposes a distribution proposal and submits it to the shareholders' meeting for approval. However, the ratio of profit distribution and cash dividends to shareholders may be adjusted based on the actual profits and financial situation of the current year and resolved by the shareholders' meeting. The total amount of dividends distributed each year shall be no less than 10% of the newly distributable profits of that year. However, if it is less than 1% of the paid-in capital, it may not be distributed. The aforementioned cash dividends shall not be less than 10% of the total dividends payable to shareholders.

The employee and director compensation distribution policy stipulated in the Company's articles of association is referred to in Note 23(8) regarding compensation to employees and compensation to directors.

If there are items reducing shareholder equity due to accumulated losses from the previous year or occurring in the current year but not sufficient to be set aside from the current year's after-tax profit, the same amount shall be set aside as a special

42 -

profit reserve from the accumulated undistributed profits from the previous year before proposing allocation for distribution.

The legal reserve shall be set aside until its balance reaches the total amount of the Company's paid-in capital. The legal reserve may be used to offset losses. If the Company has no deficit, the excess of legal reserve over 25% of the paid-in capital may be distributed in cash in addition to capitalization.

At the shareholders' meetings held on May 27, 2025 and May 24, 2024, the Company resolved to distribute the earnings for 2024 and 2023, respectively, as follows:

	2024	2023
Legal reserve	$ 25,167	$ 16,808
Special reserve	($ 19,445)	$ 9,976
Cash dividends	$244,836	$141,460
Cash dividends per share (NT$)	$ 2.25	$ 1.30

The proposed profit distribution plan for the fiscal year 2025 by the board of directors of the Company on February 25, 2026 is as follows:

	2025
Legal reserve	$ 11,207
Special reserve	($ 2,299)
Cash dividends	$108,816
Cash dividends per share (NT$)	$ 1.00

The profit distribution plan for the fiscal year 2025 is subject to the resolution of the shareholders' meeting to be held on May 27, 2026.

(4) Special reserve

	2025	2024
Beginning balance	$ 55,438	$ 45,462
Transfer to special reserve
Deduction from other equity items	-	9,976
Reversal of special reserve
Deduction reversal from other equity items	( 19,445 )	-
Ending balance	$ 35,993	$ 55,438

(5) Other equity interest items

Exchange differences on translation

	2025	2024
Beginning balance	($ 35,993)	($ 55,438)
Generated in the fiscal year
Share of subsidiaries accounted for using the equity method	2,299	19,445
Other comprehensive income in the fiscal year	2,299	19,445
Ending balance	($ 33,694)	($ 35,993)

REVENUE

	2025	2024
Revenue from customer contracts
Revenue from sales of goods	$ 2,105,515	$ 2,441,377
Others	22,495	20,518
	$ 2,128,010	$ 2,461,895

(1) Explanation of customer contracts

Revenue from sales of goods

IC products are sold to agents. The Company agrees on the selling price of goods with the order, and estimates the discount amount and return rate based on past experience and market conditions to determine the amount of revenue recognition and recognition of refund liabilities (recorded as other current liabilities).

(2) Breakdown of revenue from customer contracts

	Reporting Department:
	Direct Sales - IC Products
	2025	2024
Main Regional Markets:
Taiwan	$ 1,061,408	$ 1,216,114
Mainland China	1,055,398	1,231,108
Japan	10,034	13,220
Singapore	1,170	1,453
	$ 2,128,010	$ 2,461,895
Main Products:
IC Products	$ 2,105,515	$ 2,441,377
Others	22,495	20,518
	$ 2,128,010	$ 2,461,895
Recognition Timing:
Satisfied at a point of time	$ 2,128,010	$ 2,461,895

45 -

23. NET PROFIT OF OPERATING UNIT

(1) Other income and (expenses), net	2025	2024
Gain (loss) on the disposal of property, plant and equipment	($ 100)	($ 5)
(2) Interest income	2025	2024
Bank deposit	$ 19,196	$ 18,490
(3) Other income	2025	2024
Government grant income (Note 26)	$ 32,081	$ 4,799
Litigation compensation income	4,678	-
Others	1,420	1,210
	$ 38,179	$ 6,009
(4) Other gains and losses	2025	2024
Net gain on financial assets measured at FVTPL	$ 1,308	$ 1,492
Foreign exchange gain(loss)	( 9,449)	11,390
	($ 8,141)	$ 12,882
(5) Finance costs	2025	2024
Interests from bank loans I mputed interest on deposits received	$ 7,014	$ 9,178
Lease liabilities interest	2,860	4,454
	711	757
	$ 10,585	$ 14,389
(6) Depreciation and Amortization	2025	2024
Depreciation expense is summarized by function
Operating costs	$ 4,730	$ 3,615
Operating expenses	46,490	53,311
	$ 51,220	$ 56,926

Amortization expense is aggregated by function

Operating costs	$ 754	$ -
Operating expenses	33,200	24,724
	$ 33,954	$ 24,724

For the allocation of amortization expense of intangible assets to each line item, please refer to Note 15.

(7) Employee benefits expenses

	2025	2024
Benefits after retirement
Defined contribution plan	$ 16,632	$ 16,719
Defined benefit plan (Note 20)	133	223
Other employee benefits	456,877	516,042
Total employee benefit expenses	$473,642	$532,984
	2025	2024
---	---	---
Aggregated by function
Operating costs	$ 55,175	$ 54,033
Operating expenses	418,467	478,951
	$473,642	$532,984

(8) Compensation to employees and compensation to directors

In accordance with the Company's articles of association, the Company shall allocate employee compensation and director compensation of no less than 1% and no more than 1.5% of the pre-tax profit deducted by the distribution of the current year. In response to the amendment of the Securities and Exchange Act in August 2024, the Company plans to propose an amendment to its Articles of Incorporation at the 2025 Annual General Shareholders' Meeting, to stipulate that no less than 10% of the annual employee compensation allocation shall be distributed to grassroots employees. The estimated employee compensation(Including Compensation for Rank-and-File Employees) and director compensation for the years 2025 and 2024 were determined by the board of directors on February 25, 2026 and February 19, 2025, respectively:

Estimated calculation ratio

	2025	2024
Compensation of employees	1%	13%
Compensation of directors	1%	1%
Amount
	2025	2024
	Cash	Cash
Compensation of employees	$ 1,300	$ 40,000
Compensation of directors	$ 1,294	$ 2,968

If there is any change in the amount after the consolidated financial statements for the year have been approved and published, the adjustment will be made in the next year's financial statements based on accounting estimates.

The actual distribution amounts of employee compensation and director compensation for the years 2024 and 2023 are not different from the recognized amounts in the consolidated financial statements for the years 2024 and 2023.

For information on the Company's board resolutions regarding employee compensation and director compensation, please refer to the "MOPS" of the Taiwan Stock Exchange.

24. INCOME TAX FOR CONTINUING OPERATIONS

(1) Income tax recognized in profit or losses

Main components of income tax expenses recognized in profit or losses:

	2025	2024
Current income tax
Generated in the fiscal year	$ 17,360	$ 43,605
Adjustments for the prior year	( 8,093 )	( 34,919 )
Deferred income tax
Generated in the fiscal year	4,577	( 1,495 )
Income tax expense recognized in profit or losses	$ 13,844	$ 7,191

The reconciliations of accounting income and income tax expenses are as follows:

	2025	2024
Net profit before tax	$126,195	$254,078
Net profit before tax - Income tax expense calculated at	$ 25,239	$ 50,815

statutory tax rate

Income tax impact of adjustment items
Expenses that cannot be deducted when determining taxable income	( 262 )	( 298 )
Temporary differences	( 1,747 )	6,307
Undistributed retained earnings	-	-
Tax credit	( 5,989 )	( 13,174 )
Current income tax	17,241	43,650
Deferred income tax
Temporary differences	4,577	( 1,495 )
Impact of applying different tax rates for consolidated company and parent company	119	( 45 )
Adjustments to current income tax expense in prior years	( 8,093 )	( 34,919 )
Income tax expense recognized in profit or losses	$ 13,844	$ 7,191

(2) Income tax liabilities in the current period

	Dec. 31, 2025	Dec. 31, 2024
Income tax assets in the current period
Tax refund receivable	$ 8,575	$ -
Income tax liabilities in the current period
Income tax payable	$ 33,692	$ 50,761

(3) Deferred income tax assets

The Company will offset certain deferred tax assets and liabilities that meet the offsetting criteria.

Changes in deferred tax assets and liabilities are as follows:

2025

Deferred tax assets	Beginning balance	Recognized in profit or losses	Ending balance
Temporary differences
Unrealized inventory losses	$ 16,795	($ 5,010)	$ 11,785
Foreign exchange losses (gains)	( 1,922 )	2,871	949
Others	10,754	( 2,438)	8,316
	$ 25,627	($ 4,577)	$ 21,050

2024

Deferred tax assets	Beginning balance	Recognized in profit or losses	Ending balance
Temporary differences
Unrealized inventory losses	$ 16,995	($ 200)	$ 16,795
Foreign exchange losses	656	( 2,578)	( 1,922)
Others	6,481	4,273	10,754
	$ 24,132	$ 1,495	$ 25,627

(4) Income tax assessment

As of the end of the 2023 fiscal year, the Company's income tax returns have been approved by the tax authorities.

EARNINGS PER SHARE

	2025	2024
Basic earnings per share	$ 1.03	$ 2.27
Diluted earnings per share	$ 1.03	$ 2.25

The earnings and weighted average number of ordinary shares used to calculate earnings per share are as follows:

Net income in the fiscal year

	2025	2024
Net profit attributable to the owners of the Company	$112,351	$246,887
Net profit used to calculate Basic earnings per share	$112,351	$246,887
Influence of dilutive potential common shares.
Compensation of employees	—	—
Net profit used to calculate Basic earnings per share	$112,351	$246,887

Number of shares

	2025	2024
Weighted average number of shares of common stocks used to calculate Basic earnings per share	108,816	108,816
Influence of dilutive potential common shares:
Compensation of employees	136	779
Weighted average number of shares of common stocks used to calculate Diluted earnings per share	108,952	109,595

When the Company chooses to pay employee compensation in the form of stock or cash, when calculating diluted earnings per share, it is assumed that the employee compensation will be issued in the form of stock, and the weighted average number of outstanding shares is included when the potential common stock has a dilutive effect to calculate diluted earnings per share. When calculating diluted earnings per share before the decision to issue shares for employee compensation in the next year, the dilutive effect of such potential common stock is also considered.

26. GOVERNMENT ASSISTANCE

In October 2025, the Company obtained a government grant under the “Subsidy Program for Driving the Advanced Development of Domestic IC Design Companies” of the Industrial Upgrading and Innovation Platform Guidance Program from the Industrial Development Administration, Ministry of Economic Affairs. Government grant income of NT$30,000 thousand was recognized for the year 2025.

27. CAPITAL RISK MANAGEMENT

The Company conducts capital management to ensure that it can optimize debt and equity balances to maximize shareholder returns before continuing to operate.

The capital structure of the Company consists of net debt (borrowings minus cash and cash equivalents) and equity (including share capital, capital reserve, retained earnings, and other equity items).

The Company does not need to comply with other external capital regulations.

28. FINANCIAL INSTRUMENTS

(1) Fair value information - Financial Instruments Not Measured at Fair Value

Dec. 31, 2025

	Carrying Amount	Level 1	Level 2	Level 3	Total Fair Value
Financial Assets
Measured at amortized cost:
- Domestic corporate bonds	$ 100,329	$ -	$ 100,517	$ -	$ 100,517

Dec. 31, 2024

	Carrying Amount	Level 1	Level 2	Level 3	Total Fair Value
Financial Assets
Measured at amortized cost:
- Domestic corporate bonds	$ 50,258	$ -	$ 50,110	$ -	$ 50,110

The fair value classified under Level 2 was determined based on quotations from the Taipei Exchange (TPEx), operated by the Taipei Exchange Foundation.

(2) Fair value information - financial instruments measured at fair value on a recurring basis

Fair value hierarchy

Dec. 31, 2025

	Level 1	Level 2	Level 3	Total
Financial assets measured at FVTPL:
Mutual fund certificates	$ 70,167	$ -	$ -	$ 70,167
Dec. 31, 2024	Level 1	Level 2	Level 3	Total
Financial assets measured at FVTPL:
Mutual fund certificates	$ 164,288	$ -	$ -	$ 164,288

There were no transfers between Level 1 and Level 2 fair value measurements in 2025 and 2024.

(3) Types of financial instruments

	Dec. 31, 2025	Dec. 31, 2024
Financial assets
Measured at FVTPL
Mandatorily measured at FVTPL	$ 70,167	$ 164,288
Measured at amortized cost (Note 1)	1,609,404	1,620,590
Financial liability
Measured at amortized cost (Note 2)	410,364	358,329

Note 1: The balance includes financial assets measured at amortized cost, such as cash and cash equivalents, debt instrument investments, accounts receivable, other receivables, other financial assets, refundable deposits, and restricted assets.

Note 2: The balance includes financial liabilities measured at amortized cost, such as short-term borrowings, accounts payable (including related parties), and deposits received.

(4) Financial risk management objectives and policies

The Company's main financial instruments include investment fund certificates, investment corporate bonds, accounts receivable, short-term loans, accounts payable, and lease liabilities. The Company's finance management department provides services to various business units, coordinating and managing the Company's financial risks related to its operations by monitoring and supervising internal risk reports on exposure to risks based on their level and breadth of analysis. These risks include market risk (including foreign exchange risk, interest rate risk, and other price risks), credit risk, and liquidity risk.

The finance management department reports to the board of directors on a quarterly basis.

Market risk

The Company's main financial risks arising from its operational activities are foreign exchange rate risk (see (1) below) and interest rate risk (see (2) below). There have been no changes to the Company's exposure to market risk related to its financial instruments or its methods for managing and measuring such risks.

(1) Exchange rate risk

A portion of the cash inflows and outflows of the Company are in foreign currencies, so there is a natural hedging effect. Our management of exchange rate risk is aimed at hedging, not profit.

The strategy for managing exchange rate risk is to regularly review the net positions of various currency assets and liabilities and manage the risk of those net positions.

The Company uses short-term foreign currency borrowings to mitigate exchange rate volatility. The currency of the short-term foreign currency borrowings must be the same as that of the hedged item. By using the above tool in conjunction with the contract terms of the hedged item, we maximize the effectiveness of the hedge.

For non-functional currency denominated monetary assets and monetary liabilities (including monetary items denominated in non-functional

52 -

currencies that have been eliminated in the consolidated financial statements) on the balance sheet date, please refer to Note 32.

Sensitivity analysis

The Company is mainly affected by fluctuations in the exchange rates of USD.

The following table provides a detailed sensitivity analysis of the Company's exposure to exchange rate risk, assuming a NT$1 increase or decrease against each relevant foreign currency. The NT$1 change represents the sensitivity rate used internally by the Group for reporting exchange rate risk to key management personnel and reflects management's assessment of a reasonably possible change in foreign exchange rates. The sensitivity analysis includes only outstanding foreign-currency-denominated monetary items at the end of the reporting period, with adjustments made to reflect a NT$1 fluctuation in the exchange rates at year-end. Negative amounts in the table indicate a decrease in profit before tax resulting from a NT$1 appreciation against the respective foreign currency; conversely, a depreciation of NT$1 would have an equal but opposite effect on profit before tax.

	The impact of USD
	2025	2024
Profit and loss	($ 2,203)	($ 5,814)

(2) Interest rate risk

Due to the Company's use of floating-rate borrowings by individual entities, there is an interest rate risk. The Company manages its interest rate risk by maintaining an appropriate mix of fixed and floating-rate instruments. The Company regularly evaluates its hedging activities to ensure that they align with its interest rate outlook and established risk preferences, in order to adopt the most cost-effective hedging strategies.

As of the balance sheet date, the financial assets and financial liabilities subject to interest rate risk for the Company are as follows:

	Dec. 31, 2025	Dec. 31, 2024
Fair value interest rate risk
-Financial assets	$ 795,304	$ 854,422
-Financial liability	148,749	152,442
Cash flow rate risk
-Financial assets	297,123	239,075
-Financial liability	127,291	75,078

Sensitivity analysis

The following sensitivity analysis is based on the interest rate risk of non-derivative financial instruments on the balance sheet date. For floating rate assets and liabilities, the analysis assumes that the amount of assets and liabilities outstanding on the balance sheet date will remain outstanding throughout the reporting period. The variable rate used by the Company to report interest rates to key management personnel is an increase or decrease of 0.125%, which also represents an assessment by management of the reasonable range of possible interest rate changes.

If the interest rate increases/decreases by 0.125%, while all other variables remain constant, the Company's profit before tax for the 2025 and 2024 will increase/decrease by NT$212 thousand and NT$205 thousand, respectively.

2. Credit risk

Credit risk refers to the risk of financial loss that may be incurred by the Company due to the counterparty's failure to fulfill its contractual obligations. As of the balance sheet date, the maximum credit risk exposure to financial loss that the Company may face from counterparty non-performance mainly comes from the carrying amount of financial assets recognized in the consolidated balance sheet.

To mitigate credit risk, the Company's management has assigned a dedicated team to make credit decisions, approve credit and monitor procedures to ensure appropriate actions are taken to recover overdue receivables. In addition, the Company reviews the recoverable amount of receivables on a case-by-case basis as of the balance sheet date to ensure that any unrecoverable receivables have been adequately impaired. Based on this, the Company's management believes that the Company's credit risk has significantly reduced.

In addition, it should be noted that the majority of the Company’s liquidity transactions are conducted with financial institutions and corporate organizations that possess favorable credit ratings, which in turn mitigates the potential credit risk exposure.

With regards to accounts receivable, the Company’s customer base is diversified across various industries and geographic regions. The Company maintains a diligent assessment of the financial health of its accounts receivable customers to ensure that the credit risk is effectively managed.

As of December 31, 2025 and 2024, the five largest customers’ accounts receivable balances accounted for 78% and 82%, respectively, of the Company’s consolidated accounts receivable balance. The credit concentration risk for the remaining accounts receivable is relatively insignificant.

3. Liquidity risk

The Company manages and maintains sufficient positions of cash and cash equivalents to support the operations of the Group and mitigate the impact of cash flow volatility. The Company’s management oversees the utilization of bank financing facilities and ensures compliance with loan contract terms.

The Company has not utilized its unused short-term bank financing facilities, as explained in the following (2) financing facilities.

(1) Liquidity and interest rate risk table of non-derivative financial liabilities

The remaining contract maturity analysis of non-derivative financial liabilities is prepared based on the undiscounted cash flow of financial liabilities (including principal and estimated interest) based on the earliest date when the company may be required to repay. Therefore, the bank borrowings that the Company can be required to repay immediately are within the earliest period in the table below, without considering the probability of the bank immediately executing the right; the maturity analysis of other non-derivative financial liabilities is prepared based on the agreed repayment date.

For interest cash flows paid at floating interest rates, the undiscounted interest amount is derived based on the yield curve on the balance sheet date.

55 -

Dec. 31, 2025

	Request pay-as-you-go or less than 1 month	1-3 months	3 months to 1 year	1-5 years	More than 5 years
Non-interest bearing liabilities	$ 117,413	$ 62,312	$ -	$ -	$ -
Lease liabilities	257	515	1,354	5,760	33,000
Floating-rate instruments	-	127,578	-	-	-
Fixed-rate instruments	-	-	-	394	119,065
	$ 117,670	$ 190,405	$ 1,354	$ 6,154	$ 152,065

Further information on the maturity analysis of the financial liabilities above is as follows:

	Less than 1 year	1-5 years	5-10 years	10-15 years	15-20 years	More than 20 years
Lease liabilities	$ 2,126	$ 5,760	$ 7,200	$ 7,200	$ 7,200	$ 11,400

Dec. 31, 2024

	Request pay-as-you-go or less than 1 month	1-3 months	3 months to 1 year	1-5 years	More than 5 years
Non-interest bearing liabilities	$ 122,920	$ 55,832	$ -	$ -	$ -
Lease liabilities	268	537	2,415	6,710	35,827
Floating-rate instruments	26,602	48,529	-	-	-
Fixed-rate instruments	-	-	-	407	123,950
	$ 149,790	$ 104,898	$ 2,415	$ 7,117	$ 159,777

Further information on the maturity analysis of the financial liabilities above is as follows:

	Less than 1 year	1-5 years	5-10 years	10-15 years	15-20 years	More than 20 years
Lease liabilities	$ 3,220	$ 6,710	$ 7,490	$ 7,490	$ 7,490	$ 13,357

(2) Financing facilities

	Dec. 31, 2025	Dec. 31, 2024
Unsecured bank overdraft facilities (reviewed annually)
- Used amount	$ 127,291	$ 75,078
-Unused amount	1,287,009	1,252,772
	$ 1,414,300	$ 1,327,850

TRANSACTION WITH RELATED PARTIES

The parent company of Generalplus Technology Inc. is Sunplus Technology Co., Ltd. and as of Dec. 31, 2025 and 2024, Sunplus Technology Co., Ltd. and its subsidiaries held a total of 47.80% of the common stock of Generalplus Technology Inc. As Generalplus Technology Inc. is a listed company in Taiwan, the remaining shares are widely held by other shareholders. Considering the absolute and relative voting power of other shareholders, as well as the distribution of shares held, Sunplus Technology Co., Ltd. still has control over Generalplus Technology Inc.

Transactions, account balances, income, and expenses between Generalplus Technology Inc. and its subsidiaries (related parties of Generalplus Technology Inc.) were eliminated in full upon consolidation, and therefore not disclosed in the accompanying notes. In addition to the disclosures made in the accompanying notes, the following are transactions between the Company and other related parties:

(1) Name of related party and its relationships

Name of related party	Relationship with the Company
Sunplus Technology Co., Ltd.	The parent company of Generalplus Technology Inc.
Sunplus Innovation Technology Inc.	Sister company

(2) Operating revenue

Accounting item	Type of related party/Name	2025	2024
Sales revenue	Sister companies	$ 326	$ 439

The selling prices and payment terms for sales to related parties are determined through negotiations based on costs and market conditions, and there are no other comparable transactions.

(3) Related party payables

Accounting item	Type of related party/Name	Dec. 31, 2025	Dec. 31, 2024
Accounts payable	Parent Company	$ 67	$ 464

The balance of payables to related parties outstanding is not secured.

(4) Other related party transactions

Accounting item	Type of related party/Name	2025	2024
Cost of goods sold	Parent Company	$ 1,839	$ 3,432
Operating expenses	Parent Company	$ 2,034	$ 1,665

The prices and transaction terms for testing fees with related parties are equivalent to those with unrelated parties.

The determination of transaction terms for support service expenses with related parties is based on mutual agreement, and there are no other comparable transactions.

(5) Compensation to key management personnel:

Short-term employee benefits	2025	2024
	$ 27,694	$ 25,113

The compensation to directors and other key management personnel is determined based on individual performance and market trends.

PLEDGED ASSETS

Collateral provided for leased land:

Other assets - restricted assets	Dec. 31, 2025	Dec. 31, 2024
	$ 3,000	$ 3,000

SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED CONTRACTUAL COMMITMENTS

Except as disclosed in other notes, the significant commitments of the Company as of the balance sheet date are as follows:

Long-term purchase contracts

In December 2021, the Company signed a long-term supply contract with a supplier, under which the parties agreed to deliver the agreed-upon supply and price from January 1, 2022, to December 31, 2026. The contract stipulates that if either party fails to fulfill the agreed-upon purchase or supply quantity, the other party has the

right to claim compensation of a certain amount. Pursuant to the contract, the Company has already paid the supplier US$1,944 thousand as a guarantee for capacity supply.

32. INFORMATION ON FOREIGN CURRENCY ASSETS AND LIABILITIES WITH SIGNIFICANT IMPACT

The following information is presented in terms of foreign currencies other than the functional currencies of the Company's entities, and the exchange rates disclosed refer to the exchange rates of these currencies converted to the functional currency. The significant foreign currency assets and liabilities are as follows:

Dec. 31, 2025
Unit: Thousands of each foreign currency

Financial assets	Foreign currency	Exchange rate	Carrying amount
Monetary items
USD	$ 14,802	31.430	$ 465,227
JPY	60,708	0.2008	12,190
RMB	1,667	4.496	7,495
HKD	51	4.038	206
Financial liabilities
Monetary items
USD	12,599	31.430	395,987

Dec. 31, 2024
Unit: Thousands of each foreign currency

Financial assets	Foreign currency	Exchange rate	Carrying amount
Monetary items
USD	$ 16,607	32.785	$ 544,460
RMB	665	4.478	2,978
JPY	7,380	0.2099	1,549
HKD	61	4.222	258
Financial liabilities
Monetary items
USD	10,793	32.785	353,849

The foreign exchange gains and losses (realized and unrealized) of the Company for the years 2025 and 2024 were NT($9,449) thousand and NT$11,390 thousand, respectively. Due to the variety of functional currencies of the individual entities within the foreign

currency trading group, it is not possible to disclose the exchange gains and losses by significant foreign currencies.

33. NOTE DISCLOSURE

(1) Information on material transactions:

Financings provided: None
Endorsements/guarantees provided: None
Marketable securities held (excluding investments in subsidiaries and associates): Table 1
Total purchases from or sales to related parties of at least NT$100 million or 20% of the paid-in capital: Table 2
Receivables from related parties amounting to at least NT$100 million or 20% of the paid-in capital: None
Other: Business relationships and significant transaction amounts among parent and subsidiary companies and among subsidiaries: Table 3

(2) Information about the investment business (Table 4)

(3) Information of investment from mainland china:

The name, main business, paid-in capital, investment method, funds inflow/outflow, shareholding ratio, investment gains/losses, end-of-period investment book value, investment gains/losses already remitted, and investment limits for investing in mainland China for the invested companies in mainland China. (Table 5)
Significant transactions with the investees in Mainland China, directly or indirectly through third regions, and their prices, payment terms, and unrealized gains or losses: (Table 6)

34. DEPARTMENTAL INFORMATION

The operating decision-makers of the Company use product-specific information to allocate resources and evaluate departmental performance. Each product has similar economic characteristics and is sold through a unified and centralized sales approach. Therefore, the Company consolidates the information into a single operating department report. In addition, the Company provides departmental information for review by the operating decision-makers. The measurement basis is the same as that of financial reporting. Therefore, the departmental revenue and operating results to be reported for

60 -

2025 and 2024 can be referenced to the consolidated statement of comprehensive income for 2025 and 2024. The departmental assets to be reported as of December 31, 2025 and December 31, 2024 can be referenced to the consolidated balance sheet for 2025 and 2024, respectively.

(1) Revenue from main products and services:

The analysis of revenue from main products of the continuing operating units of the Company is as follows:

	2025	2024
Revenue from product sales	$ 2,105,515	$ 2,441,377
Other	22,495	20,518
	$ 2,128,010	$ 2,461,895

(2) Regional financial information:

Information on the Company's revenue from external customers by location of operations and non-current assets by location of assets is presented below:

	Revenue from external customers		Non-current assets
	2025	2024	Dec. 31, 2025	Dec. 31, 2024
Taiwan (where the Company is located)	$1,061,408	$1,216,114	$ 259,552	$ 237,134
Mainland China	1,055,398	1,231,108	233,942	238,293
Japan	10,034	13,220	-	-
Singapore	1,170	1,453	-	-
	$2,128,010	$2,461,895	$ 493,494	$ 475,427

Non-current assets do not include financial assets at amortized cost – non-current, deferred tax assets, and other non-current assets.

(3) Information on major customers:

The following are customers who contribute to more than 10% of the Company's total revenue:

Customer name	2025	2024
	Sales amount	Sales amount
Customer A	$ 781,878	$ 887,005
Customer B	241,280	259,244
Customer C	Note	285,066
Customer D	Note	270,648

Note : The revenue does not reach 10% of the consolidated revenue.

Generalplus Technology Inc. And Its Subsidiaries

Marketable securities held at the end of the period

Dec. 31, 2025

Units: In NT$1,000,

unless otherwise stated

Table 1

Holding company	Type and name of marketable securities	Relationship with the issuer of marketable securities	Financial statement account	End of term				Remark
				Number of shares	Carrying amount	Shareholding %	Fair value
Generalplus Technology Inc.	Yuanta De-Li Money Market Fund	-	Financial assets at FVTPL – current	4,067,795	$ 70,167	-	$ 70,167	Note
	Taiwan Power Company 5th Unsecured Ordinary Corporate Bonds, Series A, FY2024	-	Financial assets measured at amortized cost are assets – uncurrent	-	50,189	-	50,377	-
	Taiwan Semiconductor Manufacturing Company Limited First Unsecured Corporate Bonds, Series A, FY2023	-	Financial assets measured at amortized cost are assets – uncurrent	-	50,140	-	50,140	-

Note: Calculated based on the net asset value of the fund as of December 31, 2025.

62 -

Generalplus Technology Inc.
Total purchases from or sales to related parties of at least NT$100 million or 20% of the paid-in capital
From Jan. 1 to Dec. 31, 2025

Table 2
Unit: In thousands of New Taiwan dollars and foreign currency

Company name	Related party	Relationship	Transaction Details				Abnormal Transaction		Notes/Accounts Payable or Receivable		Note
			Purchase/Sales	Amount	% of Total	Payment Terms	Unit price	Credit period	Ending Balance	% of Total
Generalplus Technology Inc.	Generalplus Technology (Shenzhen) Co., Ltd.	Subsidiary	Sales	$ 101,029	5.00%	Net 45 days end of the month	$ -	—	$ 10,872	3.09%	—

63 -

Generalplus Technology Inc. And Its Subsidiaries
Business relationships and significant transaction amounts among parent and subsidiary companies and among subsidiaries
From Jan. 1 to Dec. 31, 2025
Unit: NT$1,000

Table 3

No.	Name of the trader	Name of the transaction counterparty	Relationship with the trader (Note 3)	Conditions of transactions
				Subjects	Amount	Terms of transaction	As a percentage of total consolidated revenue or total assets
0	Generalplus Technology Inc.	Generalplus (Shenzhen)	1	Sales revenue	$101,029	Note 1	4.75%
			1	Research and development expenses	60,713	Note 1	2.85%
			1	Accounts receivable	10,872	Note 2	0.39%
			1	Other payables	15,362	Note 2	0.56%
		Generalplus (HK)	1	Selling expenses	11,863	Note 1	0.56%
			1	Other payables	1,881	Note 2	0.07%

Note 1: There are no other appropriate comparable transactions.
Note 2: Payment terms are equivalent to general transaction terms.
Note 3: (1) represents transactions between the parent company and its subsidiaries.

64 -

Generalplus Technology Inc. And Its Subsidiaries
Information on the invested company's name, location, and related details
From Jan. 1 to Dec. 31, 2025

Table 4
Unit: In thousands of New Taiwan dollars and foreign currency

Name of the Investment Company	Name of the Investee Company	Location	Main businesses	Original investment amount		Holdings as of the end of the period			Investee company Profit or loss for the period	The investment income or loss recognized during the period	Remark
				End of the period	End of last year	Number of shares	Ratio	Carrying amount
Generalplus Technology Inc.	Generalplus International (Samoa) Inc.	Samoa	Investment	$ 599,999 (US$ 19,090)	$ 599,999 (US$ 19,090)	19,090,000	100%	$ 576,393	$ 8,808	$ 8,808	Subsidiary
Generalplus International (Samoa) Inc.	Generalplus (Mauritius) Inc.	Mauritius	Investment	599,999 (US$ 19,090)	599,999 (US$ 19,090)	19,090,000	100%	587,666	8,808	8,808	Subsidiary
Generalplus (Mauritius) Inc.	Generalplus Technology (HK) Co., Ltd.	Hong Kong	Marketing	12,258 (US$ 390)	12,258 (US$ 390)	-	100%	10,881	(247)	(247)	Subsidiary

Note 1: The original foreign currency is calculated based on the exchange rate as of December 31, 2025.
Note 2: For information related to the investee companies in mainland China, please refer to Table 5.

65 -

Generalplus Technology Inc. And Its Subsidiaries

Investment information in mainland China

From Jan. 1 to Dec. 31, 2025

Units: In NT$1,000,

unless otherwise stated

Table 5

Mainland China Investee Company Name	Main businesses	Paid-in capital	Investment Method	Cumulative investment amount remitted from Taiwan in the beginning of current period	Remittance or Investment recoveries Amount		Cumulative investment amount remitted from Taiwan at the end of current period	Investee company Profit or loss for the period	Shareholding percentage of the Company's direct or indirect investments	Recognized Investment income during current period (Note 2)	Investments carrying value at end of current period	Investment income remitted back to Taiwan as of end of current period
					Export	Take back
Generalplus Technology (Shenzhen) Co., Ltd.	Development of IC product applications, sales, after-sales service, and market research and survey	$ 587,741 (US$ 18,700)	(Note 1)	$ 587,741 (US$ 18,700)	$ -	$ -	$ 587,741 (US$ 18,700)	$ 9,055	100%	$ 9,055	$ 576,764	$ -
Cumulative amount of investment from Taiwan to China at the end of the period	Investment amount approved by the Investment Review Committee of MOEA	Investments amount limit in mainland China according to the regulations of the Investment Review Committee of MOEA. (60% of the net asset value)
---	---	---
$ 587,741 (US$18,700)	$ 587,741 (US$18,700)	$1,268,000

Note 1: Investment in mainland China can be made through establishing a company in a third country and then investing in a company in China.
Note 2: The original foreign currency is calculated based on the exchange rate as of December 31, 2025.

66 -

Generalplus Technology Inc. And Its Subsidiaries

The following significant transactions with Mainland China investees, directly or indirectly through third parties, and their prices, payment terms, unrealized gains or losses, and other related information

From Jan. 1 to Dec. 31, 2025

Table 6

Unit: NT$1,000

Name of investee company in Mainland China	Type of transaction	Research and development fees - management and technical support service fees, sales revenue		Price	Transaction terms		Other accounts payable - related parties, accounts and notes receivable		Unrealized gains or losses	Remark
		Amount	%		Payment terms	Comparison with general transactions	Amount	%
Generalplus Technology (Shenzhen) Co., Ltd.	Sales revenue	$ 101,029	5.00%	Priced according to contract terms	In accordance with mutually agreed terms	No other comparable transactions available	$ 10,872	3.09%	$ 11,275	None
	Expenses for commissioned development and support services	60,713	14.28%	Priced according to contract terms	In accordance with mutually agreed terms	No other comparable transactions available	15,362	89.09%	-	None

67 -

AI assistant

Generalplus — Annual Report 2025

52447_rns_2026-04-30_3f489486-040e-4448-a5fb-50b5b8d0f652.pdf

Generalplus Technology Inc. And Subsidiaries

Declaration Statement Of Consolidated Financial Statements Of Associates

Audit opinion

Basis for the audit opinion

Key audit matters

Revenue from specific products

Other matters

Responsibilities of management and directors for the consolidated financial statements

Auditors’ responsibilities for the audit of the consolidated financial statements

3. APPLICABILITY OF NEWLY ISSUED & REVISED STANDARDS AND INTERPRETATION

IFRS 18 “Presentation and Disclosures in Financial Statements”

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

10. NOTES AND ACCOUNTS RECEIVABLE (INCLUDING RELATED PARTIES)

12. SUBSIDIARIES

(1) The subsidiaries listed in the consolidated financial statements

13. PROPERTY, PLANT AND EQUIPMENT

14. LEASE AGREEMENT

16. OTHER ASSETS

20. BENEFITS AFTER RETIREMENT PLAN

(1) Defined contribution plan

(2) Defined benefit plan

21. EQUITY

(1) Share Capital

23. NET PROFIT OF OPERATING UNIT

24. INCOME TAX FOR CONTINUING OPERATIONS

(1) Income tax recognized in profit or losses

26. GOVERNMENT ASSISTANCE

27. CAPITAL RISK MANAGEMENT

28. FINANCIAL INSTRUMENTS

Sensitivity analysis

(2) Interest rate risk

Sensitivity analysis

2. Credit risk

3. Liquidity risk

(1) Liquidity and interest rate risk table of non-derivative financial liabilities

32. INFORMATION ON FOREIGN CURRENCY ASSETS AND LIABILITIES WITH SIGNIFICANT IMPACT

33. NOTE DISCLOSURE

34. DEPARTMENTAL INFORMATION

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Generalplus Annual Report 2025