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GOODWAY — AGM Information 2026
Jun 9, 2026
51869_rns_2026-06-09_cdfffd2e-845c-4bb8-a356-42de5ffae1c0.pdf
AGM Information
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GOODWAY
2026 Annual Shareholders’ Meeting Minutes of Goodway Machine Corp.
Time and date: 9:00 a.m. on May 29, 2026 (Friday)
Venue: No. 38, Keyuan Road, Xitun District, Taichung City (Meeting Room on the 2nd Floor, CTSP Branch)
Form of Shareholders’ Meeting: Physical form
Participants: Together with the shares represented by the entrusted agent, the total number of shares amounted to 91,424,083 shares (including 91,370,461 shares of electronic voting), which accounted for 83.56% of the total number of 109,400,372 outstanding ordinary shares issued by the Company.
Participating directors: Director Shu-Han Yang, Director Cheng-Jun Yang, Director Shen-Xiang Chen, Director Cai-Min Yang, Independent Director Ming-Xing Ye (Convener of the Audit Committee)
Participants without voting right: Certified Public Accountants Guei-Duan Chen of EnWise CPAs & Co.
Chairperson: Chairman Shu-Han Yang
Clerk: Ting-Shuang Lin
Call to order: When the sum of the number of shares present and the shares represented by the shareholders’ agents has reached the statutory amount, and the Acting Chairperson calls the meeting to order according to law.
Chairperson Remarks: Omitted.
Contents of Reports:
- 2025 Business Report (please refer to Attachment), for your understanding.
- 2025 Audit Committee’s Review Report (please refer to Attachment), for your understanding.
- Report on status of cash dividend distribution from earnings in 2025, for your understanding.
- Report on Director’s Remuneration for the year 2025 (please refer to Attachment), for your understanding.
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Proposals:
Item 1 (Proposed by the Board of Directors)
Subject: The proposal of the Company’s 2025 business report and financial statements. The motion is posted for acknowledgment.
Description: (1) The parent company only financial statements and consolidated financial statements for 2025 prepared by the Company’s Board of Directors have been duly audited and verified by Certified Public Accountants Guei-Duan Chen and Xin-Yu Zhong of EnWise CPAs & Co. Together with the Business Report, they have been submitted to be audited by the Audit Committee, which has duly issued an audit report.
(2) The 2025 Business Report, Independent Auditors’ Report, and the above financial statements (Balance Sheet, Consolidated Income Statement, Statement of Changes in Equity, and Statement of Cash Flows) are attached hereto.
(3) The motion is posted for acknowledgment.
Decision resolved: The voting results of this motion are: Affirmative votes: 91,401,614 votes (of which 91,349,303 votes were exercised electronically), accounting for 99.97% of the voting rights of the shareholders present, and Dissenting votes: 8,528 votes (of which 8,528 votes were exercised electronically), accounting for 0.00% of the voting rights of the shareholders present, Invalid votes: 0 vote, accounting for 0% of the voting rights of the shareholders present, Abstention and non-voting votes: 13,941 votes (of which 12,630 votes were exercised electronically), accounting for 0.01% of the voting rights of the shareholders present, therefore, this motion is passed by vote.
Item 2 (Proposed by the Board of Directors)
Subject: Proposal of the 2025 earnings distribution. The motion is posted for acknowledgment.
Description: (1) The earnings distribution table for 2025 of the Company has been prepared, please refer to Attachment.
(2) The motion is posted for acknowledgment.
Decision resolved: The voting results of this motion are: Affirmative votes: 91,401,614 votes (of which 91,349,303 votes were exercised electronically), accounting for 99.97% of the voting rights of the shareholders present, and Dissenting votes: 8,528 votes (of which 8,528 votes were exercised electronically), accounting for 0.00% of the voting rights of the shareholders present, Invalid votes: 0 vote, accounting for 0% of the voting rights of the shareholders present, Abstention and non-voting votes: 13,941 votes (of which 12,630 votes were exercised electronically), accounting for 0.01% of the voting rights of the shareholders present, therefore, this motion is passed by vote.
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Discussions:
Subject: Proposal to issue new shares through capitalization of retained earnings. The motion is posted for discussion. (Proposed by the Board of Directors)
Description: (1) To increase its working capital, the Company proposes to allocate NTD 98,460,330 of stock dividend from the distributable earnings for 2025 to issue 9,846,033 new shares with a par value of NTD 10 per share.
(2) The issuance of new shares through the capitalization of retained earnings shall be based on the proportion of shares held by shareholders as recorded in the register of shareholder on the record date for the capital increase and rights issue. For every 1,000 shares held, 90 new shares will be issued without consideration. Fractional shares resulting from the allocation may be consolidated into whole shares by shareholders through registration with the Company's shareholder services agent within five days from the record date for the capital increase. If consolidation is insufficient or not completed by the deadline, in accordance with Article 240 of the Company Act, such fractional shares shall be settled in cash at par value, calculated to the nearest whole dollar, and the Chairman is authorized to arrange for specific parties to subscribe for them at par value. For shareholders participating in the book-entry transfer of shares, the proceeds from fractional shares less than one share shall be used to cover the costs of the book-entry transfer.
(3) The rights and obligations of the new shares issued in this offering shall be the same as those of the existing issued shares.
(4) This proposal is subject to approval by the Annual Shareholders' Meeting and the competent authority, after which the Board of Directors shall be authorized to set a separate record date for the capital increase and rights issue.
(5) In the event of a subsequent change in the share capital of the Company, affecting the number of outstanding shares and resulting in a change in the rights issue rate to shareholders, which requires correction, the Board of Directors shall be authorized to deal with the matter at its sole discretion.
(6) Should the matters related to the capital increase described above require correction due to approval by the competent authority or operational needs arising from objective circumstances, the Board of Directors shall be authorized to deal with the matter at its sole discretion.
(7) The motion is posted for discussion.
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Decision resolved: The voting results of this motion are: Affirmative votes: 91,395,666 votes (of which 91,343,355 votes were exercised electronically), accounting for 99.96% of the voting rights of the shareholders present, and Dissenting votes: 10,530 votes (of which 10,530 votes were exercised electronically), accounting for 0.01% of the voting rights of the shareholders present, Invalid votes: 0 vote, accounting for 0% of the voting rights of the shareholders present, Abstention and non-voting votes: 17,887 votes (of which 16,576 votes were exercised electronically), accounting for 0.01% of the voting rights of the shareholders present, therefore, this motion is passed by vote.
Election:
Subject: Proposal for re-election of directors, is submitted for election. (Proposed by the Board of Directors)
Description: (1) The term of office of the Company's current directors will expire on June 8, 2026. It is proposed that all directors be re-elected at this Annual Shareholders' Meeting.
(2) In accordance with Articles 16 and 16-1 of the Company's Articles of Incorporation, seven directors (including three independent directors) are to be elected at this meeting, following a candidate nomination system. The directors shall have a term of three years, from May 29, 2026, to May 28, 2029. The term of office of the incumbent directors shall expire upon the conclusion of this Annual Shareholders' Meeting.
(3) The list of director candidates was approved by the Board of Directors on March 10, 2026. Their career (academic) achievements/ current positions are as follows:
| Title | Name | Major academic/ career achievements/ current positions | Number of shares held |
|---|---|---|---|
| Director | Shu-Han Yang | Academic/ career achievements: | |
| Department of International Business, Tunghai University | |||
| EMBA, Tunghai University | |||
| Manager of the Management Department of Goodway Machine Corp. | |||
| Current Position: | |||
| Chairman of Goodway Machine Corp. | - shares | ||
| Director | Cheng-Jun Yang | Academic/ career achievements: | |
| EMBA (Top Executive Program), National Chung Hsing University | |||
| Founder and Chairman of YAMA SEIKI |
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| Title | Name | Major academic/ career achievements/ current positions | Number of shares held |
|---|---|---|---|
| President of AWEA Mechantronic Co., Ltd. | |||
| Senior Sales Manager of Goodway Machine Corp. | |||
| Export Sales Manager of Goodway Machine Corp. | |||
| Supervisor of the Allied Association for Science Park Industries |
Current Position:
Chairman of AWEA Mechantronic Co., Ltd.
YAMA SEIKI USA, Inc. CEO
Director of AWEA Mechantronic Co., Ltd.
Director of Turvo International Co., Ltd.
Person in charge of Yih Chuan Machinery Industry Co., Ltd.
Person in charge of Jin Cheng Investment Co., Ltd.
Person in charge of Bo Xin Investment Co., Ltd.
Executive Director of the Taiwan Machine Tool & Accessory Builders’ Association (TMBA) | - shares |
| Director | Representative of Hong Li Investment Co., Ltd.:
Shen Siang Chen | Academic/ career achievements:
Institute of Engineering Science and Ocean Engineering (former Shipbuilding Institute),
National Taiwan University
National Defense Training and Reserve Service (Goodway Machine)
Engineer/ Section Manager/ Manager/Senior Manager, Electric Control Development Department, Goodway Machine Corp.
Plant Manager/ Vice President, Manufacturing Department, Goodway Machine Corp.
Current Position:
President of Goodway Machine Corp. | 7,934,700 shares |
| Director | Representative of Hung Jiu Investment Co., Ltd.:
Cai-Min Yang | Academic/ career achievements:
Department of Environmental Engineering, Kun Shan University
Deputy Manager of Procurement Department of Goodway Machine Corp.
Current Position:
Project Vice President, Goodway Machine Corp. | 2,936,851 shares |
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| Title | Name | Major academic/ career achievements/ current positions | Number of shares held |
|---|---|---|---|
| Independent Director | Jin-Xian Lin | Academic/ career achievements: | |
| Ph.D. in Business Administration, Washington State University | |||
| Associate Professor of the Department of Business Administration at Chung Hsing University | |||
| Associate Professor of the Department of Finance at Providence University | |||
| Associate Professor of the Department of Business. Administration at Providence University | |||
| Current Position: | |||
| Professor, Department of Business Administration, National Chung Hsing University; Dean, International College of Innovation and Industry Liaison | - shares | ||
| Independent Director | Dong-Liang Huang | Academic/ career achievements: | |
| Department of Economics, Fu Jen Catholic University | |||
| EMBA, College of Management, National Chung Hsing University | |||
| Assistant Vice President, Head Office, Mega International Commercial Bank; Chief Operating Officer, Central Taiwan Operations Center | |||
| Independent Director of Kaison Green Energy Co., LTD. | |||
| Current Position: | |||
| None | - shares | ||
| Independent Director | Qiu-Tian Xu | Academic/ career achievements: | |
| Master of Power Mechanical Engineering, National Tsing Hua University | |||
| Director of Research and Development Department, FitTech Co., Ltd. | |||
| Assistant Manager, Uni-Tek System, Inc. | |||
| Chairman, Huichun Optoelectronics Technology (Xiamen) Co., Ltd. | |||
| Current Position: | |||
| President of FitTech Co., Ltd. | - shares |
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| Title | Name | Major academic/ career achievements/ current positions | Number of shares held |
|---|---|---|---|
| Supervisor of Ftech TECHNOLOGY(Xiamen) Co., Ltd. |
(4) The proposal is submitted for election.
Election results:
| Title | Name | Number of votes received |
|---|---|---|
| Director | Shu-Han Yang | 111,509,329 votes |
| Director | Cheng-Jun Yang | 90,272,147 votes |
| Director | Representative of Hong Li Investment Co., Ltd.: Shen Siang Chen | 90,251,550 votes |
| Director | Representative of Hung Jiu Investment Co., Ltd.: Cai-Min Yang | 90,251,533 votes |
| Independent Director | Jin-Xian Lin | 85,729,827 votes |
| Independent Director | Dong-Liang Huang | 85,736,959 votes |
| Independent Director | Qiu-Tian Xu | 85,741,607 votes |
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Other Matters:
Proposal to lift the restrictions on the non-competition of the new directors and their representatives. The motion is posted for discussion. (Proposed by the Board of Directors)
Description: (1) According to Article 209 of the Company Act: “A director who engages in an act for himself or herself or for another person that is within the scope of business of the Company shall explain to the Shareholders’ Meeting the material contents of his or her act and obtain permission.”
(2) In order to capitalize on the expertise and experience of the Company’s directors, the Company’s directors may invest in or operate other businesses that are within the same or similar scope of business of the Company. Therefore, we hereby request the Shareholders’ Meeting to approve the lifting of the restrictions on non-competition of the new directors and their representatives. The details of the lifting of the restrictions on non-competition for director candidates are as follows:
| Title | Name | Current positions held concurrently |
|---|---|---|
| Director | Cheng-Jun Yang | Chairman of AWEA Mechantronic Co., Ltd. |
| YAMA SEIKI USA, Inc. CEO | ||
| Director of AWEA Mechantronic Co., Ltd. | ||
| Director of Turvo International Co., Ltd. | ||
| Person in charge of Yih Chuan Machinery Industry Co., Ltd. | ||
| Person in charge of Jin Cheng Investment Co., Ltd. | ||
| Person in charge of Bo Xin Investment Co., Ltd. | ||
| Executive Director of the Taiwan Machine Tool & Accessory Builders’ Association (TMBA) | ||
| Independent Director | Qiu-Tian Xu | President of FitTech Co., Ltd. |
| Supervisor of Ftech TECHNOLOGY(Xiamen) Co., Ltd. |
(3) The motion is posted for discussion.
Decision resolved: The voting results of this motion are: Affirmative votes: 91,364,909 votes (of which 91,312,598 votes were exercised electronically), accounting for 99.93% of the voting rights of the shareholders present, and Dissenting votes: 19,418 votes (of which 19,418 votes were exercised electronically), accounting for 0.02% of the voting rights of the shareholders present, Invalid votes: 0 vote, accounting for 0% of the voting rights of the shareholders present, Abstention and non-voting votes: 39,756 votes (of which 38,445 votes were exercised
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electronically), accounting for 0.04% of the voting rights of the shareholders present, therefore, this motion is passed by vote.
Extempore Motions:
Speech of Shareholder No. 1841:
With respect to the two sanctions imposed by the Taiwan Stock Exchange (TWSE) on January 8 and October 9, 2025, please describe whether the Company has undertaken a comprehensive assessment of its internal control framework and the time management mechanism for material information disclosures, from both regulatory and implementation perspectives. Are there any specific improvement measures or initiatives?
Reply of the Company:
According to the Company’s Chairman:
Following the sanctions related to the untimely disclosure of material information in 2025, the Company has undertaken an internal assessment and will implement the following improvement actions to reinforce corporate governance and disclosure management.
-
The Company will regularly provide education and communication regarding the Securities and Exchange Act, regulatory disclosure requirements for material information by public companies, and internal compliance procedures to directors, managerial officers, and responsible personnel. These efforts aim to reinforce their awareness of disclosure timeliness and regulatory compliance.
-
The Company will create a real-time reporting system that explicitly defines reporting timelines and procedures for directors, managerial officers, and relevant personnel when material events arise. Furthermore, instant communication networks and backup mechanisms will also be established to ensure prompt data transmission and timely regulatory disclosures.
-
The Company will thoroughly review and update its “Procedures for Handling Material Information” and relevant internal control systems. These revised procedures will be built into ongoing training and internal communications to ensure directors, managers, and key staff fully comprehend their disclosure responsibilities.
Adjournment: At 9:34 am on the same day, the Chairperson declared the meeting adjourned.
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(Attachment)
Goodway Machine Corp.
Business Report
- Report on Results of the Company’s Business Performance in 2025
(1) In terms of operating revenue:
The net operating revenue of the Company in 2025 was NTD 1,305,924 thousand, with a decrease of 19.32% compared to the net operating revenue of NTD 1,618,568 thousand in 2024; the net consolidated operating revenue in 2025 was NTD 3,887,113 thousand, with a decrease of 12.11% compared to the net consolidated operating revenue of NTD 4,422,922 thousand in 2024.
(2) In terms of profit and loss:
The net profit after tax for the year 2025 was NTD 529,787 thousand, with a decrease of 142.2% compared to NTD 1,255,492 thousand for the year 2024.
(3) The comparison of payment surplus between 2025 and 2024 is as follows:
(Parent company only)
| Items | 2025 | 2024 | Increase (decrease) | Increase (decrease) % | ||
|---|---|---|---|---|---|---|
| Amount | Amount | Amount | Amount | Amount | ||
| Operating revenue | 1,305,924 | 100.00% | 1,618,568 | 100.00% | (312,644) | (19.32%) |
| Operating costs | 1,212,122 | 92.82% | 1,315,443 | 81.27% | (103,321) | (7.85%) |
| Gross profit | 93,802 | 7.18% | 303,125 | 18.73% | (209,323) | (69.06%) |
| Realized (unrealized) benefits between affiliated companies | 15,718 | 1.20% | 10,936 | 0.68% | 4,782 | 43.73% |
| Net operating profit | (150,991) | (11.56%) | 6,963 | 0.43% | (157,954) | (2,268.34%) |
| Before tax profit | (538,605) | (41.24%) | 1,292,757 | 79.87% | (1,831,362) | (141.66%) |
| After tax profit | (529,787) | (40.57%) | 1,255,492 | 77.57% | (1,785,279) | (142.20%) |
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(Consolidated)
| Items | 2025 | 2024 | Increase (decrease) | Increase (decrease) % | ||
|---|---|---|---|---|---|---|
| Amount | Amount | Amount | Amount | Amount | ||
| Operating revenue | 3,887,113 | 100.00% | 4,422,922 | 100.00% | (535,809) | (12.11%) |
| Operating costs | 3,182,094 | 81.86% | 3,466,086 | 78.37% | (283,992) | (8.19%) |
| Gross profit | 705,019 | 18.14% | 956,836 | 21.63% | (251,817) | (26.32%) |
| Net operating profit | (149,547) | (3.85%) | 4,170 | 0.09% | (153,717) | (3,686.26%) |
| Before tax profit | (612,593) | (15.76%) | 1,557,001 | 35.20% | (2,169,594) | (139.34%) |
| After tax profit | (654,964) | (16.85%) | 1,491,094 | 33.71% | (2,146,058) | (143.93%) |
| Attributable to the parent company | (529,787) | (13.63%) | 1,255,492 | 28.39% | (1,785,279) | (142.20%) |
(4) Implementation status of budget in 2025:
The actual net profit for the year 2025 was NTD (529,787) thousand, with a realization rate of $(232\%)$ of the expected profit of NTD 402,237 thousand.
(5) Breakthroughs in business management:
A. Breakthroughs in product development:
(A) GTZ Series: Features a high-end machining architecture with twin spindles and upper/lower turrets. Each turret can flexibly support simultaneous operation with either spindle, significantly increasing equipment utilization rates. Overall production efficiency is more than doubled compared to traditional models, effectively helping customers shorten lead times and reduce unit manufacturing costs. The live tooling turret can accommodate up to 24 cutters and integrates Y-axis control functionality, enabling multi-process machining of complex parts at a single workstation. This reduces machine changeovers and rework, improves machining accuracy and consistency, and demonstrates the Company's technical competitiveness and R&D achievements in the high-value-added combined machining equipment market.
(B) GTH series: Originating from the market demand for high-efficiency mass production of electric vehicle and motorcycle parts, this series adopt a unique parallel twin spindles, twin turrets structure design, integrate automated peripheral equipment such as robotic arms and feeding platforms, and build a highly automated production system. The entire process covers self-feeding, front and back machining, finished product discharge, and accuracy testing, delivering a one-stop complete machining solution. This effectively reduces reliance on manual labor and enhances production line stability, making it particularly suitable for the automated batch production of disc-shaped and short-axis workpieces. This demonstrates the Company's integration capabilities and
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competitive edge in the field of mass production equipment for electric vehicle components.
(C) GMT Series: This equipment features up to 9-axis control and 5-axis simultaneous machining capabilities, can efficiently address the machining needs of workpieces with complex geometries, and can stably handle high-load heavy cutting applications while balancing machining precision and production output. Equipped with the G.LINC intelligent operating system and compatible with various automation options, it further enhances overall production efficiency and process stability, effectively reduces unit manufacturing costs, and strengthens customers' competitive edge in the high-end precision machining market.
(D) SK Series: This product is a new-generation Swiss-type lathes capable of machining workpieces with a maximum outer diameter of 42 mm. Featuring a servo-driven rotary guide bush design and supporting rapid switching between machining modes with and without the guide bush, it balances high precision with high flexibility for machining small-sized parts. The machine features an opposite cutting arrangement + Y2 framework, accommodating up to 34 cutting tools. It integrates a live tool set with B-axis control and supports the addition of two additional live tool sets, significantly enhancing machining flexibility and process integration capabilities. This enables machining of complex parts with high function and high production capacity, further strengthening the Company's competitive edge in the high-end Swiss-type lathe market.
(a) The Company actively increases its investment in improvement of product performance and R&D of advanced new products; and develops toward the orientation of compounding, miniaturization, large-scale, automation, and intelligence:
(A) The GMT-1500 5 axes simultaneous machining multi-axis turning center is a high-performance 5-axis turning and milling machine that combines multiple machining functions—including turning, milling, and drilling—into a single machine. It enables multi-surface machining of complex workpieces in a single clamp, effectively improving production efficiency and precision. It features an advanced CNC control system and a high-rigidity mechanical design, equipped with a high-speed spindle and an ATC system. Supporting multi-axis motion and automation, it is widely used in industries such as aerospace, automotive, and precision parts manufacturing, making it the ideal equipment for high-efficiency, one-stop machining.
(B) The GLS-200PLUS turning and milling center features a composite base design that effectively lowers the spindle center height. Even when
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configured with the high-end Y-axis specification, this design effectively minimizes the machine's overall height, enhancing dynamic rigidity and machining stability to ensure reliable performance under high-speed and heavy-load machining conditions. Equipped with a direct-drive motor spindle, it delivers powerful torque and excellent rigidity for superior cutting performance. The X and Z axes achieve rapid traverse speeds of up to $30~\mathrm{m/min}$, effectively shortening machining cycle times. It is also fitted with ultra-rigid roller-type linear sliding rails to enhance positioning accuracy. Meanwhile, simplified cover designs and optimized chip removal paths reduce the structural complexity of sheet metal components and the likelihood of failures and maintenance, achieving stable and highly efficient chip removal. This enhances the machine's reliability and operational efficiency during prolonged operation.
(C) The SW-12 series, with a maximum processing diameter of $\varnothing 12\mathrm{mm}$ and a maximum spindle speed of 15,000 rpm, provides dual function of sliding head and fixed head, applicable for machining small parts.
(D) The GS-6000/GS-8000/HA-1600 series offer optional spindle apertures of $\varnothing 130$, $\varnothing 205$, $\varnothing 260$, and $\varnothing 320\mathrm{mm}$, which are suitable for machining of both large drum parts and large pipe parts, and have received a great feedback in sales.
(E) Large vertical lathes include the GV-1/GVH/GVB/GVF series, which are structurally similar to moving-beam gantry milling machines (W-axis/RAM/ATC tool libraries) and are suitable for work-pieces demanding for large diameters and low heights. Over the years, the Company has made significant breakthroughs in the development of large vertical lathes in technology, hoping to be in a leading position in the vertical lathe market as in the horizontal lathe market in the future.
(F) Model GA-2000 offers Y-axis specification selection, combined with Y-axis control function to enhance the machining capability of complex workpieces.
(G) GS-2000/GS-3000 series offers workpiece turning lengths of 2,350 and 3,250, applicable for processing long shaft/pipe parts and meeting the machining needs of customers for workpieces of different lengths.
(H) The 3D cutting simulation system has been comprehensively optimized, with the simulation capabilities upgraded to better meet user needs. From basic tool to model construction and off-line cutting simulation, the system features an intuitive user interface that allows users to easily set machining parameters, quickly review simulation machining results, and identify potential issues early. This significantly reduces development costs and risks for users, prevents errors, improves production efficiency, and ensures machining quality.
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(I) We continue to develop smart energy-saving systems, introduce power-saving modes to reduce energy consumption. This helps customers cut energy costs while meeting the environmental goal of corporate sustainability. The system switches to power-saving mode during machining downtime while remaining ready to resume production at any moment. By optimizing power distribution and energy efficiency and identifying hidden energy losses, it not only boosts actual profits but also supports carbon reduction and sustainable competitiveness.
(J) The user-friendly intelligent warm-up system utilizes intelligent warm-up function to accurately detect thermal deformation and perform real-time compensation immediately after startup. This effectively reduces the preparation time before machining and the dimensional detection time during the machining process, thereby enhancing overall efficiency.
(K) The Company develops the third-generation G.LINC 350 III cutting-edge intelligent human-machine interface system, and makes technological breakthroughs and innovation, ushering in a new era of intelligent manufacturing. The G.LINC 350 III integrates a wealth of application functions, which can be categorized into six core groups. Whether for machining preparation, machining program editing, actual production, or machine maintenance, the system provides corresponding auxiliary functions to comprehensively enhance operational efficiency.
B. Breakthroughs in corporate management improvement:
(A) Strengthen the implementation of product sales forecasting and plan target management to boost sales performance.
(B) Integrate and reorganize product specifications to enhance product competitiveness and reduce waste.
- Summary of the business plan 2026
(1) To expand new products, refine core technologies, and optimize operational efficiency.
(2) To make technological integration, and continue to save energy, reduce carbon emissions, and innovate intelligent products in combination with external research and development energy; to make product improvement, optimization, and enhancement of product quality and performance.
(3) To strengthen supplier management, provide flexibility and resilience of the supply chain, and improve the quality, cost and delivery time of products.
(4) To make intelligent manufacturing digital transformation, and improve operation and maintenance efficiency of the Company.
- Impact from external competitive environment, regulatory environment, and overall business environment
The Company's development prospects are subject to impact of the following factors:
(1) International situation developments and competition from Chinese machine tools
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In 2025, Taiwan’s machine tool industry faced dual pressures from the sharp appreciation of the New Taiwan Dollar and the implementation of U.S. reciprocal tariffs. In the global market, Japanese manufacturers actively secured orders by leveraging the pricing advantage of a depreciating yen, posing a direct threat to Taiwanese manufacturers. The automotive industry, once the core market for machine tools, is experiencing a sharp decline in demand for traditional machinery due to the transition from conventional fuel vehicles to new energy vehicles, further intensifying market competition. At the same time, the rapid rise of China’s machine tool industry has not only led to the successful development of five-axis machines and domestic controllers but, driven by severe domestic economic “involution,” has also prompted Chinese manufacturers to seize overseas markets through tactics such as low-price dumping and offering preferential loan payment terms (pay-after-use). Therefore, China has become Taiwan’s most formidable competitor outside of Japan and South Korea.
(2) Fluctuation in international exchange rate
From 2021 to January 9, 2026, the New Taiwan Dollar depreciated by only 11.2% against the U.S. dollar, while the Japanese yen depreciated by as much as 53.2%—a difference of 42%. This has completely erased the price advantage Taiwan previously held, where its equipment was 20–30% cheaper than Japanese products. Furthermore, the South Korean won has depreciated by 34.1% cumulatively. Combined with mainland China’s low-price export strategies to secure orders, this has made it impossible for Taiwanese machine tool manufacturers to compete on price with Japanese, South Korean, and mainland Chinese manufacturers in the standard and general-purpose models. This is a key factor behind the significant decline in Taiwan’s machine tool export value.
As we enter the year 2026, although the Russia-Ukraine war shows no signs of ending, the easing of the U.S.-China trade war and the imminent finalization of U.S. tariff policies toward Taiwan suggest that, provided the New Taiwan Dollar exchange rate remains stable and avoids significant fluctuations, export momentum is expected to gradually recover. Furthermore, the “15th Five-Year Plan” launched by the Chinese government is expected to introduce a series of policies to stimulate the economy and expand domestic demand, driving a new wave of demand for manufacturing equipment, which is expected to inject new growth momentum into Taiwan’s machine tool exports.
- Future Development Strategy
(1) Marketing strategy
A. Strengthen the global sales and after-sales service layout, including evaluating the establishment of service centers in South Korea, India, Indonesia, and the Netherlands, and accelerating the optimization of synergies at the Vietnam office.
B. Increase market penetration of high-value-added products, such as GMT
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multi-tasking machines and cylindrical grinding machines, through global trade shows, digital marketing, and training for distributors.
C. By leveraging the local advantage of a wholly-owned subsidiary YAMA SEIKI in the USA, sufficient inventory is available to shorten delivery times and enhance order competitiveness.
D. Launch a new generation of high-performance models to replace the numerous general-purpose machine series, and leverage the cost advantages of mass production to improve gross profit margins.
E. Actively expand automated and intelligent machining solutions to effectively assist global customers in addressing the industry's labor shortage challenges.
F. In response to the rapid growth of industries such as AI servers and drones, leverage machining application technologies and sales track records to expand market share.
(2) Product development direction
A. To strengthen the functional improvement and mass production capacity of high-level multi-axis products, and enrich the high-level product line, so as to improve the overall operating profits.
B. Continuously developing AI and energy-saving systems, in addition to meeting the 2025 energy conservation and carbon reduction issue, utilizes the function of adding high-precision sensors to realize machine network neural networks, and combines with production management systems to establish situation dashboard, allowing customers to easily manage machine operations in the office.
C. To improve peripheral equipment of automation, integrate the control systems of the machines and the peripheral equipment of automation, provide the most appropriate machining solutions according to the customers' work-piece requirements and production demands, and work together with the customers to develop towards unmanned or less manual machining system.
D. To form alliances with domestic and international academic communities, research communities, and other industries, actively develop intelligent machining application functions such as monitoring of machine condition, monitoring of machining quality, and automatic precision compensation, and elevate the product value at both software and hardware ends.
(3) Production strategy
A. We will continue to promote a lean management culture, integrate intelligent production processes, and establish digital records for product lifecycle. By combining these efforts with AI analytics tools, we aim to enhance process stability, product quality, and production efficiency while reducing defect rates and resource waste.
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B. We will maintain tiered supply chain management and technical support mechanisms to deepen strategic partnerships; implement multi-source and risk diversification strategies to improve supply stability, delivery accuracy, and overall cost performance.
C. Based on annual demand forecasts and market order status, we implement planned monthly batch production and strategic inventory management for critical components to improve material supply responsiveness and production line operational efficiency.
D. Strengthen the application of high-end Japanese machining equipment, expand the proportion of in-house manufactured components, and gain control over the quality, delivery times, and costs of core components to enhance product competitiveness in the market.
E. CTSP Plant continues to serve as the primary production base for high-end 5-axis and multi-axis turning centers, as well as high-end cylindrical grinding machine, and enhance process integration benefits to support global high-end market demand.
F. Expand production capacity for small and medium-sized lathes at the Chiayi Dapumei Factory, and through production line optimization, improve output efficiency and quality stability to meet market demand for flagship models.
G. Continue to improve energy use efficiency, strengthen energy consumption monitoring and analysis, advance toward low-carbon processes and sustainable manufacturing goals, and fulfill social expectations for green manufacturing.
Chairman: Shu-Han Yang
Managerial officer: Shu-Han Yang
Accounting Supervisor: Ting-Shuang Lin
GOODWAY
(Attachment)
Goodway Machine Corp.
Audit Committee’s Review Report
The Business Report, Financial Statements, Proposal for Earnings Distribution and other final settlement papers for year 2025 of the Company had been duly worked out by the Company’s Board of Directors. Among the papers, the Financial Statements had been duly audited and verified by CPAs Guei-Duan Chen and Xin-Yu Zhong of EnWise CPAs & Co. who had duly issued an audit report. The above business report, financial statements, and proposal for earnings distribution have been reviewed by this Audit Committee and were deemed to be in compliance. Therefore, a report has been prepared in accordance with Article 14-4 of the Securities Exchange Act and Article 219 of the Company Act for review.
To
2026 Annual Shareholders’ Meeting of Goodway Machine Corp.
Audit Committee Convener: Ming-Xing Ye
March 10, 2026
WOODWY
(Attachment)
- Remuneration for directors and independent directors
Unit: NTD thousand; %
| Title | Name | Director's remuneration | The sum of A, B, C and D as a percentage of after-tax profit | Remuneration as an employee | The sum of A, B, C, D, E, F and G as a percentage of after-tax net profit | Remuneration received from the invested companies other than the subsidiaries and the parent company | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Remuneration (A) (Note 1) | Pension (B) | Remuneration of directors (C) (Note 2) | Fees for services rendered (D) (Note 3) | Salaries, bonuses, special allowances etc. (E) (Note 4) | Pension (F) (Note 5) | Employee remuneration (G) (Note 6) | ||||||||||||||||
| The Company | All companies shown in the financial report | The Company | All companies shown in the financial report | The Company | All companies shown in the financial report | The Company | All companies shown in the financial report | The Company | All companies shown in the financial report | The Company | All companies shown in the financial report | The Company | All companies shown in the financial report | The Company | All companies shown in the financial report | Stock amount | Cash amount | Stock amount | Stock amount | |||
| Director | Director | De-Hua Yang | 42 | 267 | - | - | - | - | 15 | 30 | -0.01% | -0.06% | - | - | - | - | - | - | - | -0.01% | -0.06% | - |
| Director | Jun-Chang Liu | - | - | - | - | - | - | 5 | 5 | -0.00% | -0.00% | - | - | - | - | - | - | - | -0.00% | -0.00% | - | |
| Director | Xiu-Fen Xie | 71 | 71 | - | - | - | - | 25 | 25 | -0.01% | -0.01% | 1,594 | 1,594 | 79 | 79 | - | - | - | -0.33% | -0.33% | - | |
| Director | Shen-Xiang Chen | 189 | 189 | - | - | - | - | 10 | 10 | -0.04% | -0.04% | 2,658 | 2,658 | 81 | 81 | - | - | - | -0.55% | -0.55% | - | |
| Director | De-Sheng Yang | 20 | 20 | - | - | - | - | 15 | 15 | -0.00% | -0.00% | - | - | - | - | - | - | - | -0.00% | -0.00% | - | |
| Director | Cheng-Jun Yang | 189 | 339 | - | - | - | - | - | - | -0.04% | -0.06% | - | - | - | - | - | - | - | -0.04% | -0.06% | - | |
| Director | Shu-Han Yang | 250 | 250 | - | - | - | - | 30 | 30 | -0.05% | -0.05% | 3,292 | 3,292 | 81 | 81 | - | - | - | -0.69% | -0.69% | - | |
| Director | Cai-Min Yang | 189 | 189 | - | - | - | - | 10 | 10 | -0.04% | -0.04% | 1,195 | 1,195 | 45 | 45 | - | - | - | -0.27% | -0.27% | - | |
| Independent Director | Independent Director | Zheng-Da Cai | 250 | 250 | - | - | - | - | 35 | 35 | -0.05% | -0.05% | - | - | - | - | - | - | - | -0.05% | -0.05% | - |
| Independent Director | Ke-Jing Chen | 250 | 250 | - | - | - | - | 35 | 35 | -0.05% | -0.05% | - | - | - | - | - | - | - | -0.05% | -0.05% | - |
G
OODWY
| Title | Name | Director's remuneration | The sum of A, B, C and D as a percentage of after-tax profit | Remuneration as an employee | The sum of A, B, C, D, E, F and G as a percentage of after-tax net profit | Remuneration received from the invested companies other than the subsidiaries and the parent company |
|---|---|---|---|---|---|---|
| Remuneration (A) (Note 1) | Pension (B) | Remuneration of directors (C) (Note 2) | Fees for services rendered (D) (Note 3) | Salaries, bonuses, special allowances etc. (E) (Note 4) | Pension (F) (Note 5) | Employee remuneration (G) (Note 6) |
| The Company | All companies shown in the financial report | The Company | All companies shown in the financial report | The Company | All companies shown in the financial report | The Company |
| Stock amount | Cash amount | Stock amount | Cash amount | Stock amount | Cash amount | Stock amount |
| Independent Director | Ming-Xing Ye | 250 | 250 | - | - | - |
| Independent Director | Xian-Jun Qiu | 250 | 250 | - | - | - |
| 1. Please describe the remuneration policy, system, standard and structure of independent directors, and describe the linkage to the remuneration amount according to the responsibilities, risks, time, and other factors:If the Company makes a profit in the current year, it shall allocate no more than 2% of the profits as the directors' remuneration in accordance with the Company's Articles of Incorporation. The actual allocation ratio shall be proposed by the Remuneration Committee by reviewing the business performance, and then submitted to the Board of Directors for resolution; the remuneration to independent directors is paid based on their participation and contribution to the overall operation.2. Other than those disposed in the Table above, remuneration received by company directors in the recent year for services provided to a company as mentioned in the financial report (e.g. consultancy service without the title of an employee): 0. |
Note 1. This refers to the directors' remuneration for the year 2025.
Note 2. This refers to the remuneration amount for directors and supervisors as approved by the Board of Directors for the year 2025.
Note 3. This refers to the related business execution expenses (including traffic allowance) of the directors for the year 2025. In addition, the Company provides an original cost of NTD 6,488 thousand for automobiles, and all companies in the consolidated financial statements provide a total original cost of NTD 10,679 thousand for automobiles.
Note 4. This refers to the payment to the directors concurrently being an employee (including the salary and position bonuses) for the year 2025.
Note 5. This refers to the total amount of the amount allocated to the Labor Insurance Bureau at a rate of $6\%$ of monthly salary in accordance with the pension system in the "Labor Pension Act", and the amount allocated at $2.3\%$ of the total monthly salary of employees in accordance with the pension system in the "Labor Standards Act".
Note 6. This refers to the remuneration to employee as approved by the Board of Directors for the year 2025.
(Attachment)
Independent Auditors' Report
The Board of Directors and Shareholders
Goodway Machine Corporation:
Audit Opinion
We have audited the financial statements of Goodway Machine Corporation (the "Company") and its Subsidiaries (the "Group"), which comprise the balance sheets as of December 31, 2025 and 2024, and the consolidated statements of comprehensive income, changes in equity and cash flows for the years then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies.
In our opinion, based on our audits and the reports of other auditors (refer to the Other Matter paragraph), the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as of December 31, 2025 and 2024, and its consolidated financial performance and its consolidated cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers of the Republic of China, the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), IFRIC Interpretations (IFRIC), and SIC Interpretations (SIC) endorsed and issued into effect by the Financial Supervisory Commission (FSC) of the Republic of China.
Basis for Opinion
We conducted our audits in accordance with the Regulations Governing Auditing and Attestation of Financial Statements by Certified Public Accountants and the Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Group in accordance with the Norm of Professional Ethics for Certified Public Accountant of Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Based on our audit results and the audit reports of other accountants, we are convinced that we have acquired enough and appropriate audit evidence to serve as the basis of audit opinion.
21
22
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Group’s 2025 consolidated financial statements. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
Key audit matters for the Group’s 2025 consolidated financial statements are stated as follows:
Evaluation of receivables
Net receivables of the Group on December 31, 2025 were NTD 1,091,930 thousand (with deduction of the allowance for loss at NTD 68,938 thousand). Since the provision of amounts of receivables that cannot be recovered involves judgment by the management, therefore, we focus on individual accounts where the balance of receivables is significant and the collection is delayed, to evaluate the reasonableness of their provision for losses. Our audit procedures for this included:
-
Carefully assess the assumptions used by the management to calculate the allowance for loss, and confirm that the calculations are sufficient to support the provision for allowance for loss, including testing the correctness of the aging report used as the basis for the calculation of the allowance for loss. In order to evaluate reasonableness of the balance of allowance for loss, we analyzed and compared with aging classification and provision proportion of receivables in 2025 to prior years, and reviewed the writing-off condition of bad debts in 2025 compared with the prior years, so as to verify the reasonableness of provision for expected credit impairment loss, and then confirmed the possibility of recovery of outstanding funds through collection after the inspection period.
-
Test the effectiveness of the operation of internal controls related to receivables, including approval of credit limits for customer transactions and detailed review of receivables’ ledgers.
Revenue recognition
The main revenue of the Group comes from sales of CNC lathes and processing machinery, the sales revenue of which in 2025 was recognized as NTD 1,661,010 thousand and NTD 2,226,103 thousand, respectively. Since the recognition time point and amount have a significant impact on the financial statements, therefore, the revenue recognition test is an important evaluation item by us in auditing the financial statements.
By testing the effectiveness of the design and implementation of the internal control system for revenue, we reviewed the significant new contracts and understood the contract terms and sample sales transactions during the period before and after the end of the test year, so as to evaluate correctness of the revenue recognition period. In addition, we made trend analysis of the top ten sales customers and revenues from products by category, so as to evaluate whether there was significant abnormality or not.
Evaluation of inventories
Accounting inventories of the Group are evaluated in accordance with the inaction evaluation policy formulated by the Group. Since this policy is applicable to extensive scope of products, and various products are of different elimination rates of old ones, and there shall be inaction ratio of different categories if evaluating the products by category, therefore, evaluation test of the allowance for valuation loss of inventories is one of the important evaluation items by us in auditing consolidated financial statements of the Group.
Our main audit procedures for the above key matters included examining the inventory age statement and analyzing the inventory age changes of each period; evaluating whether the evaluation of inventories has been carried out in accordance with the established accounting policies of the Group, so as to audit the reasonableness of the provision for sluggish losses.
Other Matters
In the consolidated financial statements, the financial statements of YAMA SEIKI USA, INC., a subsidiary recognized by the equity method have not been audited by us, but by other CPAs. Therefore, in our opinions on the above consolidated financial statements, the amounts included in the financial statements of that subsidiary are based solely on the statements audited by other CPAs. The total assets of that subsidiary for the years ended December 31, 2025 and 2024 were NTD 1,057,190 thousand and NTD 865,476 thousand, respectively, accounting for 7% and 6% of total consolidated assets; the total liabilities were NTD 573,991 thousand and NTD 403,944 thousand, respectively, accounting for 8% and 6% of total consolidated liabilities, respectively; net amount of operating revenue for the years ended December 31, 2025 and 2024 was NTD 681,350 thousand and NTD 646,341 thousand, respectively, accounting for 18% and 15% of net amount of consolidated operating revenue, respectively.
The Company has prepared the parent company only financial statements for 2025 and 2024, and we have issued an audit report containing our unqualified opinion plus the audit report issued by other CPAs as in the section of "Other matters" for reference.
23
Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations as endorsed by the Financial Supervisory Commission, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, management is responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.
Those charged with governance (including members of the Audit Committee) are responsible for overseeing the Group’s financial reporting process.
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 the Standards on Auditing the Republic of China will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.
As part of an audit in accordance with the Standards on Auditing of the Republic of China, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement in 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 our opinion. Fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Therefore, the risk of not detecting a material misstatement resulting from fraud is higher than the one resulting from error.
24
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the management level.
-
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 Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the 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 cause the Group to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the consolidated financial statements, including relevant notes, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
-
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
25
From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the Group for the year ended December 31, 2025, and are therefore the key audit matters. We describe these matters in our auditors' report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
EnWise CPAs & Co.
CPA Guei-Duan Chen
CPA Xin-Yu Zhong
Approval number of the Securities and Futures Management Committee, Ministry of Finance (1990) Tai-Cai-Zheng (I) No. 27495
Approval number of the Securities and Futures Management Committee, Ministry of Finance (2011) Tai-Cai-Zheng (VI) No. 3889
March 10, 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 accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to audit such consolidated financial statements are those generally applied in the Republic of China.
For the convenience of readers, the independent auditors' report and the accompanying consolidated financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese-language independent auditors' report and consolidated financial statements shall prevail.
26
Goodway Machine Corporation and its Subsidiaries
Consolidated Balance Sheets
December 31, 2025 and 2024
Unit: NTD thousand
| Code | Items | Notes | December 31, 2025 | December 31, 2024 | ||
|---|---|---|---|---|---|---|
| Amount | % | Amount | % | |||
| Current assets | ||||||
| 1100 | Cash and cash equivalents | Notes 4 and 6 (1) | $ 2,133,132 | 15 | $ 1,532,663 | 10 |
| 1110 | Financial assets at FVTPL - current | Notes 4 and 6 (2) | 1,819,713 | 13 | 3,107,012 | 21 |
| 1120 | Financial assets at FVOCI - current | Notes 4 and 6 (3) | 27,812 | - | 24,863 | - |
| 1136 | Financial assets measured at amortized cost | Notes 4 and 6 (4) | ||||
| - current | 34,919 | - | - | - | ||
| 1150 | Notes receivable, net | Notes 4 and 6 (5) | 200,093 | 2 | 203,812 | 1 |
| 1160 | Notes receivable due from related parties, net | Note 7 | 2,917 | - | 330 | - |
| 1170 | Accounts receivable, net | Notes 4 and 6 (5) | 891,837 | 6 | 809,206 | 6 |
| 1180 | Account receivables due from related parties, net | Note 7 | 2,675 | - | 11,437 | - |
| 1200 | Other receivables | 18,591 | - | 28,994 | - | |
| 1220 | Current income tax assets | 34,935 | - | 32,221 | - | |
| 130x | Inventories | Notes 4 and 6 (6) | 3,474,855 | 25 | 3,559,935 | 24 |
| 1410 | Prepayments | Note 7 | 153,101 | 1 | 114,434 | 1 |
| 1476 | Other financial assets - current | Notes 6 (7) and 8 | 332,268 | 2 | 504,824 | 4 |
| 1479 | Other current assets - others | 9,697 | - | 6,772 | - | |
| 11xx | Total current assets | 9,136,545 | 64 | 9,936,503 | 67 | |
| Non-current assets | ||||||
| 1517 | Financial assets at FVOCI - non-current | Notes 4 and 6 (3) | 421 | - | 376 | - |
| 1535 | Financial assets measured at amortized cost | Notes 4, 6 (4) and 8 | ||||
| - non-current | 10,280 | - | 10,200 | - | ||
| 1550 | Investments accounted for using equity method | Notes 4 and 6 (8) | - | - | - | - |
| 1600 | Property, plant and equipment | Notes 4, 6 (9) and 8 | 3,645,224 | 26 | 3,457,793 | 23 |
| 1755 | Right-of-use assets | Notes 4, 6 (10) and 8 | 644,964 | 5 | 692,414 | 5 |
| 1760 | Investment property | Notes 4 and 6 (11) | 284,271 | 2 | 284,646 | 2 |
| 1780 | Intangible assets | Notes 4 and 6 (12) | 34,099 | 1 | 41,224 | - |
| 1805 | Goodwill | Note 4 | 135,498 | - | 135,961 | 1 |
| 1840 | Deferred income tax assets | Notes 4 and 6 (32) | 282,757 | 2 | 265,037 | 2 |
| 1915 | Prepayments for equipment | 1,477 | - | 5,189 | - | |
| 1920 | Refundable deposits | 8,410 | - | 7,121 | - | |
| 1937 | Overdue receivables | Note 6 (13) | - | - | - | - |
| 1990 | Other non-current assets - others | Note 7 | 8,717 | - | 14,773 | - |
| 15xx | Total non-current assets | 5,056,118 | 36 | 4,914,734 | 33 | |
| 1xxx | Total assets | $ 14,192,663 | 100 | $ 14,851,237 | 100 |
Please refer to the accompanying notes to the consolidated financial statements.
Goodway Machine Corporation and its Subsidiaries
Consolidated Balance Sheets
December 31, 2025 and 2024
Unit: NTD thousand
| Code | Items | Notes | December 31, 2025 | December 31, 2024 | ||
|---|---|---|---|---|---|---|
| Amount | % | Amount | % | |||
| Current liabilities | ||||||
| 2100 | Short-term borrowings | Note 6 (14) | $ 3,306,536 | 23 | $ 2,986,248 | 20 |
| 2110 | Short-term notes and bills payable | Note 6 (15) | - | - | 79,992 | 1 |
| 2130 | Current contract liabilities | 290,627 | 2 | 251,029 | 2 | |
| 2150 | Notes payable | 556,276 | 4 | 368,128 | 2 | |
| 2160 | Notes payable - related parties | Note 7 | 381 | - | 563 | - |
| 2170 | Accounts payable | 278,205 | 2 | 297,308 | 2 | |
| 2180 | Accounts payable - related parties | Note 7 | 58 | - | 97 | - |
| 2200 | Other payables | Note 6 (16) | 258,763 | 2 | 350,212 | 2 |
| 2220 | Other payables - related parties | Note 7 | 11 | - | 11 | - |
| 2230 | Current tax liabilities | 62,111 | 1 | 62,437 | - | |
| 2250 | Current provisions | Notes 4 and 6 (17) | 23,593 | - | 24,726 | - |
| 2280 | Current lease liabilities | Notes 4 and 6 (10) | 33,009 | - | 32,530 | - |
| 2320 | Long-term liabilities due within one year or one business cycle | Note 6 (18) | 840,500 | 6 | 77,450 | 1 |
| 2399 | Other current liabilities - others | Note 7 | 1,763 | - | 1,264 | - |
| 21xx | Total current liabilities | 5,651,833 | 40 | 4,531,995 | 30 | |
| Non-current liabilities | ||||||
| 2540 | Long-term borrowings | Note 6 (18) | 487,000 | 4 | 996,063 | 7 |
| 2570 | Deferred income tax liabilities | Notes 4 and 6 (32) | 344,330 | 2 | 348,858 | 2 |
| 2580 | Non-current lease liabilities | Notes 4 and 6 (10) | 482,911 | 3 | 524,045 | 4 |
| 2630 | Long-term deferred revenue | 15,461 | - | 17,599 | - | |
| 2640 | Net defined benefit liability - non-current | Notes 4 and 6 (19) | 4,053 | - | 14,075 | - |
| 2645 | Guarantee deposits received | 3,475 | - | 5,538 | - | |
| 25xx | Total non-current liabilities | 1,337,230 | 9 | 1,906,178 | 13 | |
| 2xxx | Total Liabilities | 6,989,063 | 49 | 6,438,173 | 43 | |
| Equity attributable to owners of the parent | ||||||
| 3100 | Share capital | Notes 4 and 6 (20) | ||||
| 3110 | Common stock | 1,094,004 | 8 | 1,104,004 | 8 | |
| 3200 | Capital surplus | Notes 4 and 6 (21) | ||||
| 3211 | Share premium | 256,121 | 2 | 258,462 | 2 | |
| 3213 | Gains from disposal of assets | 1,260 | - | 1,260 | - | |
| 3240 | Changes in net equity value of associates and joint ventures recognized by equity method | 3,090 | - | 467 | - | |
| 3272 | Employee stock option | 202 | - | 202 | - | |
| 3280 | Others | 63,354 | - | 63,285 | - | |
| Total capital surplus | 324,027 | 2 | 323,676 | 2 | ||
| 3300 | Retained earnings | Note 6 (22) | ||||
| 3310 | Legal reserve | 1,050,737 | 8 | 912,730 | 6 | |
| 3320 | Special reserve | 188,846 | 1 | 188,846 | 1 | |
| 3350 | Unappropriated earnings | 3,004,494 | 21 | 4,045,982 | 27 | |
| Total retained earnings | 4,244,077 | 30 | 5,147,558 | 34 | ||
| 3400 | Other equity | Note 6 (23) | ||||
| 3410 | Exchange difference on translation of financial statements of foreign operations | (21,730) | - | (10,067) | - | |
| 3420 | Unrealized gains (losses) on valuation of financial assets measured at fair value through other comprehensive income | 14,958 | - | 12,335 | - | |
| Total other equity | (6,772) | - | 2,268 | - | ||
| 3500 | Treasury shares | Note 6 (24) | - | - | - | - |
| 31xx | Total equity attributable to owners of the parent | 5,655,336 | 40 | 6,577,506 | 44 | |
| 36xx | Non-controlling interests | Note 6 (25) | 1,548,264 | 11 | 1,835,558 | 13 |
| 3xxx | Total equity | 7,203,600 | 51 | 8,413,064 | 57 | |
| Total liability and equity | $ 14,192,663 | 100 | $ 14,851,237 | 100 |
Please refer to the accompanying notes to the consolidated financial statements.
Goodway Machine Corporation and its Subsidiaries
Consolidated Statements of Comprehensive Income
For the Years Ended December 31, 2025 and 2024
Unit: NTD thousand, except earnings per share
| Code | Items | Notes | 2025 | 2024 | ||
|---|---|---|---|---|---|---|
| Amount | % | Amount | % | |||
| 4000 | Operating revenue | Notes 4 and 6 (26) | $ 3,887,113 | 100 | $ 4,422,922 | 100 |
| 5000 | Operating costs | Note 6 (6) | (3,182,094) | (82) | (3,466,086) | (78) |
| 5900 | Gross profit | 705,019 | 18 | 956,836 | 22 | |
| Operating expenses | ||||||
| 6100 | Selling and marketing expenses | (453,364) | (12) | (467,794) | (11) | |
| 6200 | General and administrative expenses | (252,104) | (6) | (290,800) | (7) | |
| 6300 | Research and development expenses | (144,644) | (4) | (186,909) | (4) | |
| 6450 | Expected credit impairment (losses) gains | (4,454) | - | (7,163) | - | |
| 6000 | Total operating expenses | (854,566) | (22) | (952,666) | (22) | |
| 6900 | Operating profit (loss) | (149,547) | (4) | 4,170 | - | |
| Non-operating income and expenses | ||||||
| 7100 | Interest income | 31,257 | 1 | 42,331 | 1 | |
| 7010 | Other income | Note 6 (27) | 165,717 | 4 | 191,077 | 4 |
| 7020 | Other gains and losses | Note 6 (28) | (561,721) | (14) | 1,402,834 | 32 |
| 7050 | Finance costs | Note 6 (29) | (98,299) | (3) | (83,038) | (2) |
| 7060 | Share of profit or loss of associates and joint ventures accounted for using equity method | Note 6 (8) | ||||
| - | (373) | - | ||||
| 7000 | Total non-operating income and expenses | (463,046) | (12) | 1,552,831 | 35 | |
| 7900 | Net profit (loss) before tax | (612,593) | (16) | 1,557,001 | 35 | |
| 7950 | Income tax expense | Note 6 (32) | (42,371) | (1) | (65,907) | (1) |
| 8200 | Net profit (loss) for the year | (654,964) | (17) | 1,491,094 | 34 | |
| Other comprehensive income | Note 6 (33) | |||||
| 8310 | Items that will not be reclassified subsequently to profit or loss: | |||||
| 8311 | Remeasurement of defined benefit plan | 5,926 | - | 6,364 | - | |
| 8316 | Unrealized gains (losses) from investment in equity instrument measured at fair value through other comprehensive income | 2,599 | - | 161,314 | 4 | |
| 8321 | Re-measurement of defined benefit plans of associates and joint ventures | 994 | - | 1,656 | - | |
| 8326 | Unrealized gains (losses) from investment in equity instrument measured at fair value through other comprehensive income of associates and joint ventures | 45 | - | 3,122 | - | |
| 8349 | Income taxes related to the items not reclassified | Note 6 (32) | (1,384) | - | (1,604) | - |
| 8360 | Items that may be reclassified subsequently to profit or loss: | |||||
| 8361 | Exchange difference on translation of financial statements of foreign operations | (12,804) | - | 84,709 | 2 | |
| 8399 | Income tax related to items that may be reclassified to profit or loss | Note 6 (32) | ||||
| 393 | - | (7,927) | - | |||
| 8300 | Other comprehensive (loss) income for the year | (4,231) | - | 247,634 | 6 | |
| 8500 | Total comprehensive income | $ (659,195) | (17) | $ 1,738,728 | 40 | |
| 8600 | Net profit attributable to: | |||||
| 8610 | Owners of the parent company (net profit) | $ (529,787) | $ 1,255,492 | |||
| 8620 | Non-controlling interests (net profit) | (125,177) | 235,602 | |||
| Net profit for the year | $ (654,964) | $ 1,491,094 | ||||
| 8700 | Total comprehensive income attributable to: | |||||
| 8710 | Owners of the parent company (comprehensive income) | $ (533,683) | $ 1,486,071 | |||
| 8720 | Non-controlling interests (comprehensive income) | (125,512) | 252,657 | |||
| Total comprehensive income | $ (659,195) | $ 1,738,728 | ||||
| Earnings per share | ||||||
| 9750 | Basic earnings per share | Note 6 (34) | $ (4.83) | $ 11.37 | ||
| 9850 | Diluted earnings per share | Note 6 (34) | $ (4.83) | $ 11.31 |
Please refer to the accompanying notes to the consolidated financial statements.
Goodway Machine Corporation and its Subsidiaries
Consolidated Statement of Changes in Equity
For the Years Ended December 31, 2025 and 2024
Unit: NTD thousand
| Items | Equity attributable to owners of the parent | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Share capital | Retained earnings | Other equity items | ||||||||
| Common stock | Capital surplus | Legal reserve | Special reserve | Unappropriated earnings | Exchange difference on translation of financial statements of foreign operations | Unrealized gains (losses) on valuation of financial assets measured at fair value through other comprehensive income | Treasury shares | Total equity attributable to owners of the parent | Non-controlling interests | |
| Balance at January 1, 2024 | $ 1,104,004 | $ 323,676 | $ 843,366 | $ 188,846 | $ 3,176,876 | $ (72,033) | $ (31,699) | $ - | $ 5,533,036 | $ 1,631,569 |
| Appropriation and distribution of retained earnings | ||||||||||
| Legal capital reserve | - | - | 69,364 | - | (69,364) | - | - | - | - | - |
| Cash dividends of common stock | - | - | - | - | (441,601) | - | - | - | (441,601) | (72,948) |
| 2024 Net profit | - | - | - | - | 1,255,492 | - | - | - | 1,255,492 | 235,602 |
| Other comprehensive income for 2024 | - | - | - | - | 5,749 | 61,966 | 162,864 | - | 230,579 | 17,055 |
| Total comprehensive income of 2024 | - | - | - | - | 1,261,241 | 61,966 | 162,864 | - | 1,486,071 | 252,657 |
| Disposal of investments in equity instruments at fair value through other comprehensive income | - | - | - | - | 118,881 | - | (118,881) | - | - | - |
| Disposal of equity instruments at fair value through other comprehensive income by subsidiaries | - | - | - | - | (51) | - | 51 | - | - | - |
| Increase in non-controlling interests | - | - | - | - | - | - | - | - | - | 24,280 |
| Balance at December 31, 2024 | 1,104,004 | 323,676 | 912,730 | 188,846 | 4,045,982 | (10,067) | 12,335 | - | 6,577,506 | 1,835,558 |
| Appropriation and distribution of retained earnings | ||||||||||
| Legal capital reserve | - | - | 138,007 | - | (138,007) | - | - | - | - | - |
| Cash dividends of common stock | - | - | - | - | (331,201) | - | - | - | (331,201) | (71,427) |
| 2025 Net loss | - | - | - | - | (529,787) | - | - | - | (529,787) | (125,177) |
| Other comprehensive income for 2025 | - | - | - | - | 5,144 | (11,663) | 2,623 | - | (3,896) | (335) |
| Total comprehensive income of 2025 | - | - | - | - | (524,643) | (11,663) | 2,623 | - | (533,683) | (125,512) |
| Repurchase of treasury stock | - | - | - | - | - | - | - | (59,978) | (59,978) | - |
| Cancellation of treasury stock | (10,000) | (2,341) | - | - | (47,637) | - | - | 59,978 | - | - |
| Changes in ownership interests in subsidiaries | - | 2,623 | - | - | - | - | - | - | 2,623 | (66,315) |
| Transfer of unclaimed dividends to capital surplus | - | 69 | - | - | - | - | - | - | 69 | - |
| Decrease in non-controlling interests | - | - | - | - | - | - | - | - | - | (24,040) |
| Balance at December 31, 2025 | $ 1,094,004 | $ 324,027 | $ 1,050,737 | $ 188,846 | $ 3,004,494 | $ (21,730) | $ 14,958 | $ - | $ 5,655,336 | $ 1,548,264 |
Please refer to the accompanying notes to the consolidated financial statements.
Goodway Machine Corporation and its Subsidiaries
Consolidated Statements of Cash Flows
For the Years Ended December 31, 2025 and 2024
| Items | 2025 | Unit: NTD thousand 2024 |
|---|---|---|
| Cash flows from operating activities | ||
| Net profit (loss) before tax | $ (612,593) | $ 1,557,001 |
| Adjustments | ||
| Income/expenses items not influencing cash flow | ||
| Depreciation | 191,830 | 205,572 |
| Amortization | 9,111 | 7,924 |
| Expected credit impairment losses | 4,454 | 7,163 |
| Net loss (gain) on financial assets at FVTPL | 505,910 | (1,285,464) |
| Interest expense | 98,299 | 83,038 |
| Interest income | (31,257) | (42,331) |
| Dividend revenue | (87,883) | (75,345) |
| Share of profit of associates and joint ventures accounted for using equity method | - | 373 |
| Gains on disposal and discard of property, plant and equipment | (124) | (5,130) |
| Depreciation of investment property | 1,147 | - |
| Losses (Gains) on disposals of investments | 601 | (8,878) |
| Other items | (2,142) | (2,188) |
| Lease modification benefit | - | (4) |
| Presentation (Offset) of provision for liabilities | (2,814) | 2,814 |
| Net changes in operating assets and liabilities | ||
| Notes receivable | (3,037) | 25,555 |
| Notes receivable - related parties | (2,587) | (146) |
| Account receivables | (88,788) | 142,841 |
| Account receivables - related parties | 8,762 | (11,370) |
| Other receivables | 9,578 | (3,441) |
| Inventories | 85,080 | 7,523 |
| Prepayments | (38,750) | (15,163) |
| Other current assets | (2,925) | (220) |
| Overdue receivables | (73) | (5,289) |
| Other non-current assets | - | 4,769 |
| Contract liabilities | 39,598 | (43,868) |
| Notes payable | 188,148 | (161,383) |
| Notes payable - related parties | (182) | 174 |
| Accounts payable | (19,103) | (23,227) |
| Accounts payable - related parties | (39) | (4) |
| Other payables | (73,521) | 26,749 |
| Other payables - related parties | - | (5) |
| Provisions | 1,678 | (4,184) |
| Advance receipts | 659 | (749) |
| Other current liabilities | 8,546 | (298) |
| Net defined benefit liability | (3,102) | (1,168) |
| Cash generated from operations | 184,481 | 381,641 |
| Interest received | 31,740 | 43,994 |
| Income tax paid | (69,184) | (257,194) |
| Net cash generated by operating activities | 147,037 | 168,441 |
(Continued)
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Goodway Machine Corporation and its Subsidiaries
Consolidated Statements of Cash Flows
For the Years Ended December 31, 2025 and 2024
| Items | 2025 | Unit: NTD thousand 2024 |
|---|---|---|
| (Continued from previous page) | ||
| Cash flows from investing activities | ||
| Acquisitions of financial assets at fair value through other comprehensive income | $ (351) | $ (13,114) |
| Disposal of financial assets at fair value through other comprehensive income | - | 269,348 |
| Acquisition of financial assets measured at amortized cost | (34,999) | (63) |
| Acquisitions of financial assets at fair value through profit or loss | (137,341) | (105,197) |
| Disposal of financial assets at fair value through profit or loss | 918,730 | 54,782 |
| Net cash outflow from acquisition of subsidiary | - | 17,711 |
| Net cash outflow from disposal of subsidiaries | (15,382) | - |
| Acquisition of property, plant and equipment | (358,306) | (365,526) |
| Disposal of property, plant and equipment | 492 | 22,024 |
| Decrease (increase) in refundable deposits | (1,289) | 2,196 |
| Acquisitions of intangible assets | (2,004) | (23,725) |
| Acquisitions of Investment property | (623) | (467) |
| Decrease in other financial assets | 172,556 | 100,618 |
| Increase in other non-current assets | (2,407) | (4,943) |
| Decrease (Increase) in prepayments for equipment | 743 | (1,989) |
| Dividends received | 87,883 | 77,298 |
| Net cash inflow from investing activities | 627,702 | 28,953 |
| Cash flows from financing activities | ||
| Increase in short-term borrowings | 320,288 | 166,389 |
| Decrease in short-term notes and bills payable | (79,992) | (199,872) |
| Make long-term borrowings | 253,987 | 135,050 |
| Decrease in guarantee deposits received | (2,063) | (23,809) |
| Repayment of lease principal | (42,447) | (37,865) |
| Cash dividends paid | (331,201) | (441,601) |
| Payment of cash dividends to non-controlling interests | (71,427) | (72,948) |
| Repurchase cost of treasury stock | (59,978) | - |
| Interest paid | (97,542) | (74,554) |
| Decrease in non-controlling interests | (63,692) | - |
| Net cash outflow from financing activities | (174,067) | (549,210) |
| Effect of changes in foreign exchange rates on cash and cash equivalents | (203) | 64,801 |
| Net increase (decrease) in cash and cash equivalents | 600,469 | (287,015) |
| Cash and cash equivalents at the beginning of year | 1,532,663 | 1,819,678 |
| Cash and cash equivalents at the end of year | $ 2,133,132 | $ 1,532,663 |
Please refer to the accompanying notes to the consolidated financial statements.
Independent Auditors' Report
The Board of Directors and Shareholders
Goodway Machine Corporation:
Audit Opinion
We have audited the financial statements of Goodway Machine Corporation. (the "Company"), which comprise the balance sheets as of December 31, 2025 and 2024, and the statements of comprehensive income, changes in equity and cash flows for the years then ended, and notes to the financial statements, including a summary of significant accounting policies.
In our opinion, based on our audits and the reports of other auditors (refer to the Other Matter paragraph), the accompanying financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and its financial performance and its cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers of the Republic of China.
Basis for Opinion
We conducted our audits in accordance with the Regulations Governing Auditing and Attestation of Financial Statements by Certified Public Accountants and the Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Norm of Professional Ethics for Certified Public Accountant of Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Based on our audit results and the audit reports of other accountants, we are convinced that we have acquired enough and appropriate audit evidence to serve as the basis of audit opinion.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements for the year ended December 31, 2025 Goodway Machine Corporation. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
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Key audit matters identified in the Company’s financial statements for the year ended December 31, 2025 are stated as follows:
Evaluation of receivables
Net receivables of Goodway Machine Corporation on December 31, 2025 was NTD 543,200 thousand (with deduction of the allowance for loss at NTD 8,024 thousand). Since the provision of amounts of receivables that cannot be recovered involves judgment by the management, therefore, we focus on individual objects where the balance of receivables is significant and the collection is delayed, to evaluate the reasonableness of their provision for losses. Our audit procedures for this include:
-
Carefully assess the assumptions used by the management to calculate the allowance for loss, and confirm that the calculations are sufficient to support the provision for allowance for loss, including testing the correctness of the aging report used as the basis for the calculation of the allowance for loss. In order to evaluate reasonableness of the balance of allowance for loss, we analyzed and compared with aging classification and provision proportion of receivables in 2025 to prior years, and reviewed the writing-off condition of bad debts in 2025 compared with the prior years, so as to verify the reasonableness of provision for expected credit impairment loss, and then confirmed the possibility of recovery of outstanding funds through collection after the inspection period.
-
Test the effectiveness of the operation of internal controls related to receivables, including approval of credit limits for customer transactions and detailed review of receivables’ ledgers.
Revenue recognition
The main revenue of Goodway Machine Corporation comes from sales of CNC lathes, and the sales revenue of which in 2025 was recognized as NTD 1,202,844 thousand, accounting for about 92% of overall operating income. Since the recognition time point and amount have a significant impact on the financial statements, therefore, the revenue recognition test is an important evaluation item by us in auditing the financial statements.
By testing the effectiveness of the design and implementation of the internal control system for revenue, we reviewed the significant new contracts and understood the contract terms and sample sales transactions during the period before and after the end of the test year, so as to evaluate correctness of the revenue recognition period. In addition, we made trend analysis of the top ten sales customers and revenues from products by category, so as to evaluate whether there was significant abnormality or not.
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35
Evaluation of inventories
Accounting inventories of Goodway Machine Corporation are evaluated in accordance with the inaction evaluation policy formulated by the Group. Since this policy is applicable to extensive scope of products, and various products are of different elimination rates of old ones, and there shall be inaction ratio of different categories if evaluating the products by category, therefore, evaluation test of the allowance for valuation loss of inventories is one of the important evaluation items by us in auditing the financial statements of Goodway Machine Corporation.
Our main audit procedures for the above key matters included examining the inventory age statement and analyzing the inventory age changes of each period; evaluating whether the evaluation of inventories has been carried out in accordance with the established accounting policies of Goodway Machine Corporation, so as to audit the reasonableness of the provision for sluggish losses.
Other Matters - References to the Audits of Other CPAs
In the parent company only financial statements, the financial statements of YAMA SEIKI USA, INC., an investment accounted for using equity method have not been audited by us, but by other CPAs. Investment balance of such associates recognized by equity method for the years ended December 31, 2025 and 2024 were NTD 341,695 thousand and NTD 326,220 thousand, respectively, accounting for 4% and 3% of total assets, respectively; for the years ended December 31, 2025 and 2024, the Company's share of the profit or loss of subsidiaries, associates, and joint ventures accounted for using the equity method was NTD 29,016 thousand and NTD 19,102 thousand, respectively, accounting for (5%) and 1% of total comprehensive income for the respective periods.
Responsibilities of Management and Those Charged with Governance for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those charged with governance (including members of the Audit Committee) are responsible for overseeing the Company’s financial reporting process.
Auditors’ Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Standards on Auditing of the Republic of China will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with the Standards on Auditing of the Republic of China, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. Fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Therefore, the risk of not detecting a material misstatement resulting from fraud is higher than the one resulting from error.
- Obtain an understanding of internal control relevant to the audit to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the management level.
36
-
Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause Goodway Machine Corporation to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the financial statements (including the related notes), and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
-
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within Goodway Machine Corporation to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the audit of Goodway Machine Corporation. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
37
From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of Goodway Machine Corporation for the year ended December 31, 2025 and are therefore the key audit matters. We describe these matters in our auditors' report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
EnWise CPAs & Co.
CPA Guei-Duan Chen
CPA Xin-Yu Zhong
Approval number of the Securities and Futures Management Committee, Ministry of Finance (1990) Tai-Cai-Zheng (I) No. 27495
Approval number of the Securities and Futures Management Committee, Ministry of Finance (2011) Tai-Cai-Zheng (VI) No. 3889
March 10, 2026
Notice to Readers
The accompanying parent company only financial statements are intended only to present the parent company only financial position, financial performance and cash flows in accordance with accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to audit such parent company only financial statements are those generally applied in the Republic of China. For the convenience of readers, the independent auditors' report and the accompanying parent company only financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese-language independent auditors' report and parent company only financial statements shall prevail.
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Goodway Machine Corporation
Balance Sheets
December 31, 2025 and 2024
Unit: NTD thousand
December 31, 2025
| Code | Items | Notes | December 31, 2025 | December 31, 2024 | ||
|---|---|---|---|---|---|---|
| Amount | % | Amount | % | |||
| Current assets | ||||||
| 1100 | Cash and cash equivalents | Notes 4 and 6 (1) | $ 790,855 | 8 | $ 482,169 | 5 |
| 1110 | Financial assets at FVTPL - current | Notes 4 and 6 (2) | 1,603,445 | 17 | 2,130,473 | 22 |
| 1120 | Financial assets at FVOCI - current | Notes 4 and 6 (3) | 27,812 | - | 24,863 | - |
| 1150 | Notes receivable, net | Notes 4 and 6 (4) | 12,385 | - | 11,681 | - |
| 1160 | Notes receivable due from related parties, net | Note 7 | 3,104 | - | 330 | - |
| 1170 | Accounts receivable, net | Notes 4 and 6 (4) | 530,815 | 6 | 535,738 | 5 |
| 1180 | Account receivables due from related parties, net | Note 7 | 80,056 | 1 | 62,439 | 1 |
| 1200 | Other receivables | 7,218 | - | 7,470 | - | |
| 1210 | Other receivables - related parties | Note 7 | 9,408 | - | 2,132 | - |
| 1220 | Current income tax assets | Notes 4 and 6 (29) | 1,808 | - | 417 | - |
| 130X | Inventories | Notes 4 and 6 (5) | 1,257,705 | 13 | 1,310,327 | 13 |
| 1410 | Prepayments | 33,447 | 1 | 18,104 | - | |
| 1476 | Other financial assets - current | Note 6 (6) | 201,745 | 2 | 273,035 | 3 |
| 1479 | Other current assets - others | 8,877 | - | 4,484 | - | |
| 11XX | Total current assets | 4,568,680 | 48 | 4,863,662 | 49 | |
| Non-current assets | ||||||
| 1550 | Investments accounted for using equity method | Notes 4 and 6 (7) | 2,803,466 | 29 | 2,974,724 | 30 |
| 1600 | Property, plant and equipment | Notes 4, 6 (8) and 8 | 1,618,805 | 17 | 1,471,862 | 15 |
| 1755 | Right-of-use assets | Notes 4 and 6 (9) | 168,052 | 2 | 178,429 | 2 |
| 1760 | Investment property | Notes 4 and 6 (10) | 284,271 | 3 | 284,646 | 3 |
| 1780 | Intangible assets | Notes 4 and 6 (11) | 13,257 | - | 16,256 | - |
| 1840 | Deferred income tax assets | Notes 4 and 6 (29) | 60,861 | 1 | 39,046 | 1 |
| 1915 | Prepayments for equipment | 27,796 | - | 29,437 | - | |
| 1920 | Refundable deposits | 532 | - | 532 | - | |
| 1931 | Long-term notes receivable, net | Notes 4 and 7 | 2,652 | - | - | - |
| 15XX | Total non-current assets | 4,979,692 | 52 | 4,994,932 | 51 | |
| 1XXX | Total assets | $ 9,548,372 | 100 | $ 9,858,594 | 100 |
Please refer to the accompanying notes to the financial statements.
Goodway Machine Corporation
Balance Sheets
December 31, 2025 and 2024
| Code | Items | Notes | December 31, 2025 | Unit: NTD thousand December 31, 2024 | ||
|---|---|---|---|---|---|---|
| Amount | % | Amount | % | |||
| Current liabilities | ||||||
| 2100 | Short-term borrowings | Note 6 (12) | $ 1,800,000 | 19 | $ 1,350,000 | 14 |
| 2130 | Current contract liabilities | Note 6 (13) | 31,202 | - | 10,282 | - |
| 2150 | Notes payable | 214,617 | 2 | 194,731 | 2 | |
| 2160 | Notes payable - related parties | Note 7 | 2,313 | - | 14,351 | - |
| 2170 | Accounts payable | 48,820 | 1 | 41,480 | - | |
| 2180 | Accounts payable - related parties | Note 7 | 2,810 | - | 1,022 | - |
| 2200 | Other payables | Note 6 (14) | 98,782 | 1 | 180,310 | 2 |
| 2220 | Other payables - related parties | Note 7 | 36 | - | 3,311 | - |
| 2230 | Current tax liabilities | 27,306 | - | 52,815 | 1 | |
| 2250 | Current provisions | Notes 4 and 6 (15) | 10,548 | - | 10,969 | - |
| 2280 | Current lease liabilities | Notes 4 and 6 (9) | 9,251 | - | 9,097 | - |
| 2320 | Long-term liabilities due within one year or one business cycle | Note 6 (16) | 840,500 | 9 | 77,450 | 1 |
| 2399 | Other current liabilities - others | 35 | - | 46 | - | |
| 21XX | Total current liabilities | 3,086,220 | 32 | 1,945,864 | 20 | |
| Non-current liabilities | ||||||
| 2540 | Long-term borrowings | Note 6 (16) | 487,000 | 5 | 996,063 | 10 |
| 2570 | Deferred income tax liabilities | Notes 4 and 6 (29) | 157,306 | 2 | 156,503 | 2 |
| 2580 | Non-current lease liabilities | Notes 4 and 6 (9) | 161,508 | 2 | 170,759 | 2 |
| 2640 | Net defined benefit liability - non-current | Notes 4 and 6 (17) | 1,002 | - | 9,526 | - |
| 2645 | Guarantee deposits received | - | - | 2,373 | - | |
| 25XX | Total non-current liabilities | 806,816 | 9 | 1,335,224 | 14 | |
| 2XXX | Total Liabilities | 3,893,036 | 41 | 3,281,088 | 34 | |
| Equity | ||||||
| 3100 | Share capital | |||||
| 3110 | Common stock | Notes 4 and 6 (18) | 1,094,004 | 11 | 1,104,004 | 11 |
| 3200 | Capital surplus | Notes 4 and 6 (19) | ||||
| 3210 | Capital surplus - additional paid-in capital arising from ordinary share | 256,121 | 3 | 258,462 | 3 | |
| 3240 | Capital surplus - gains from disposal of assets | 1,260 | - | 1,260 | - | |
| 3260 | Capital surplus - changes in net equity value of associates and joint ventures recognized by equity method | 3,090 | - | 467 | - | |
| 3271 | Capital surplus - employee stock option | 202 | - | 202 | - | |
| 3280 | Capital surplus - others | 63,354 | 1 | 63,285 | - | |
| Total capital surplus | 324,027 | 4 | 323,676 | 3 | ||
| 3300 | Retained earnings | Note 6 (20) | ||||
| 3310 | Legal reserve | 1,050,737 | 11 | 912,730 | 9 | |
| 3320 | Special reserve | 188,846 | 2 | 188,846 | 2 | |
| 3350 | Unappropriated earnings | 3,004,494 | 31 | 4,045,982 | 41 | |
| Total retained earnings | 4,244,077 | 44 | 5,147,558 | 52 | ||
| 3400 | Other equity | Note 6 (21) | ||||
| 3410 | Exchange difference on translation of financial statements of foreign operations | (21,730) | - | (10,067) | - | |
| 3420 | Unrealized gains (losses) on valuation of financial assets measured at fair value through other comprehensive income | 14,958 | - | 12,335 | - | |
| Total other equity | (6,772) | - | 2,268 | - | ||
| 3500 | Treasury shares | Note 6 (22) | - | - | - | - |
| 3XXX | Total equity | 5,655,336 | 59 | 6,577,506 | 66 | |
| Total liability and equity | $ 9,548,372 | 100 | $ 9,858,594 | 100 |
Please refer to the accompanying notes to the financial statements.
Goodway Machine Corporation
Statements of Comprehensive Income
For the Years Ended December 31, 2025 and 2024
Unit: NTD thousand, except earnings per share
| Code | Items | Notes | 2025 | 2024 | ||
|---|---|---|---|---|---|---|
| Amount | % | Amount | % | |||
| 4000 | Operating revenue | Notes 4 and 6 (23) | $ 1,305,924 | 100 | $ 1,618,568 | 100 |
| 5000 | Operating costs | Note 6 (5) | (1,212,122) | (93) | (1,315,443) | (81) |
| 5900 | Gross profit | 93,802 | 7 | 303,125 | 19 | |
| 5910 | Unrealized gain from sale | (45,577) | (4) | (61,295) | (4) | |
| 5920 | Realized gain from sale | 61,295 | 5 | 72,231 | 4 | |
| 5950 | Gross profit, net | 109,520 | 8 | 314,061 | 19 | |
| Operating expenses | ||||||
| 6100 | Selling and marketing expenses | (109,697) | (8) | (116,916) | (7) | |
| 6200 | General and administrative expenses | (88,453) | (7) | (115,918) | (7) | |
| 6300 | Research and development expenses | (65,762) | (5) | (71,431) | (4) | |
| 6450 | Expected credit impairment gains (losses) | 3,401 | - | (2,833) | - | |
| 6000 | Total operating expenses | (260,511) | (20) | (307,098) | (18) | |
| 6900 | Operating profit (loss) | (150,991) | (12) | 6,963 | 1 | |
| Non-operating income and expenses | ||||||
| 7100 | Interest income | 16,219 | 1 | 16,973 | 1 | |
| 7010 | Other income | Note 6 (26) | 98,741 | 8 | 114,925 | 7 |
| 7020 | Other gains and losses | Note 6 (27) | (363,508) | (28) | 936,074 | 58 |
| 7050 | Finance costs | Note 6 (28) | (52,428) | (4) | (44,321) | (3) |
| 7070 | Share of profit or loss of subsidiaries, associates and joint ventures accounted for using equity method | (86,638) | (7) | 262,143 | 16 | |
| 7000 | Total non-operating income and expenses | (387,614) | (30) | 1,285,794 | 79 | |
| 7900 | Net profit (loss) before income tax | (538,605) | (42) | 1,292,757 | 80 | |
| 7950 | Income tax benefit (expense) | Notes 4 and 6 (29) | 8,818 | 1 | (37,265) | (2) |
| 8200 | Net profit (loss) for the year | (529,787) | (41) | 1,255,492 | 78 | |
| Other comprehensive income | Note 6 (30) | |||||
| 8310 | Items that will not be reclassified to profit or loss | |||||
| 8311 | Remeasurement of defined benefit plan | Note 6 (17) | 5,926 | 1 | 6,364 | - |
| 8316 | Unrealized gains (losses) from investment in equity instrument measured at fair value through other comprehensive income | 2,599 | - | 161,314 | 10 | |
| 8331 | Re-measurement of defined benefit plans of subsidiaries, associates and joint ventures | 504 | - | 822 | - | |
| 8336 | Unrealized gains (losses) from investment in equity instrument measured at fair value through other comprehensive income of subsidiaries, associates and joint ventures | 24 | - | 1,550 | - | |
| 8349 | Income taxes related to the items not reclassified | Note 6 (29) | (1,286) | - | (1,437) | - |
| 7,767 | 1 | 168,613 | 10 | |||
| 8360 | Items that may be reclassified subsequently to profit or loss | |||||
| 8361 | Exchange difference on translation of financial statements of foreign operations | (11,870) | (1) | 66,189 | 4 | |
| 8399 | Income tax related to items that may be reclassified | Note 6 (29) | 207 | - | (4,223) | - |
| (11,663) | (1) | 61,966 | 4 | |||
| 8300 | Other comprehensive (loss) income for the year | (3,896) | - | 230,579 | 14 | |
| 8500 | Total comprehensive income | $ (533,683) | (41) | $ 1,486,071 | 92 | |
| Earnings per share | ||||||
| 9750 | Basic earnings per share | Note 6 (31) | $ (4.83) | $ 11.37 | ||
| 9850 | Diluted earnings per share | Note 6 (31) | $ (4.83) | $ 11.31 |
Please refer to the accompanying notes to the financial statements.
Goodway Machine Corporation
Statement of Changes in Equity
For the Years Ended December 31, 2025 and 2024
Unit: NTD thousand
| Share capital | Retained earnings | Other equity items | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Items | Common stock | Capital surplus | Legal reserve | Special reserve | Unappropriated earnings | Exchange difference on translation of financial statements of foreign operations | Unrealized gains (losses) on valuation of financial assets measured at fair value through other comprehensive income | Treasury shares | Total equity |
| Balance at January 1, 2024 | $ 1,104,004 | $ 323,676 | $ 843,366 | $ 188,846 | $ 3,176,876 | $ (72,033) | $ (31,699) | $ - | $ 5,533,036 |
| Appropriation and distribution of retained earnings: | |||||||||
| Legal capital reserve | - | - | 69,364 | - | (69,364) | - | - | - | - |
| Cash dividends of common stock | - | - | - | - | (441,601) | - | - | - | (441,601) |
| 2024 Net profit | - | - | - | - | 1,255,492 | - | - | - | 1,255,492 |
| Other comprehensive income for 2024 | - | - | - | - | 5,749 | 61,966 | 162,864 | - | 230,579 |
| Total comprehensive income of 2024 | - | - | - | - | 1,261,241 | 61,966 | 162,864 | - | 1,486,071 |
| Disposal of investments in equity instruments at fair value through other comprehensive income | - | - | - | - | 118,881 | - | (118,881) | - | - |
| Disposal of equity instruments at fair value through other comprehensive income by subsidiaries | - | - | - | - | (51) | - | 51 | - | - |
| Balance at December 31, 2024 | 1,104,004 | 323,676 | 912,730 | 188,846 | 4,045,982 | (10,067) | 12,335 | - | 6,577,506 |
| Appropriation and distribution of retained earnings: | |||||||||
| Legal capital reserve | - | - | 138,007 | - | (138,007) | - | - | - | - |
| Cash dividends of common stock | - | - | - | - | (331,201) | - | - | - | (331,201) |
| 2025 Net loss | - | - | - | - | (529,787) | - | - | - | (529,787) |
| Other comprehensive income for 2025 | - | - | - | - | 5,144 | (11,663) | 2,623 | - | (3,896) |
| Total comprehensive income of 2025 | - | - | - | - | (524,643) | (11,663) | 2,623 | - | (533,683) |
| Repurchase of treasury stock | - | - | - | - | - | - | - | (59,978) | (59,978) |
| Cancellation of treasury stock | (10,000) | (2,341) | - | - | (47,637) | - | - | 59,978 | - |
| Changes in ownership interests in subsidiaries | - | 2,623 | - | - | - | - | - | - | 2,623 |
| Transfer of unclaimed dividends to capital surplus | - | 69 | - | - | - | - | - | - | 69 |
| Balance at December 31, 2025 | $ 1,094,004 | $ 324,027 | $ 1,050,737 | $ 188,846 | $ 3,004,494 | $ (21,730) | $ 14,958 | $ - | $ 5,655,336 |
Please refer to the accompanying notes to the financial statements.
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Goodway Machine Corporation
Statements of Cash Flows
For the Years Ended December 31, 2025 and 2024
| Items | 2025 | Unit: NTD thousand 2024 |
|---|---|---|
| Cash flows from operating activities | ||
| Net profit (loss) before tax | $ (538,605) | $ 1,292,757 |
| Adjustments | ||
| Income/expenses items not influencing cash flow | ||
| Depreciation | 63,262 | 62,914 |
| Amortization | 3,905 | 2,908 |
| Expected credit impairment losses (gains) | (3,401) | 2,833 |
| Net loss (gain) on financial assets at FVTPL | 323,980 | (872,265) |
| Interest expense | 52,428 | 44,321 |
| Interest income | (16,219) | (16,973) |
| Dividend revenue | (61,473) | (52,190) |
| Share of profit or loss of subsidiaries, associates and joint ventures accounted for using equity method | 86,638 | (262,143) |
| Gains on disposal and discard of property, plant and equipment | - | (468) |
| Depreciation of investment property | 1,147 | - |
| Losses (Gains) on disposals of investments | 300 | (7,901) |
| Unrealized (Realized) gain from sale with subsidiaries and associates | (15,718) | (10,936) |
| Presentation (Offset) of provision for liabilities | (858) | 858 |
| Net changes in operating assets and liabilities | ||
| Notes receivable | (3,280) | (272) |
| Notes receivable - related parties | (2,774) | (30) |
| Account receivables | 8,248 | (68,692) |
| Accounts receivable - related parties | (17,617) | (21,267) |
| Other receivables | 337 | 814 |
| Other receivables - related parties | (7,276) | (1,090) |
| Inventories | 52,622 | 56,470 |
| Prepayments | (15,343) | (8,992) |
| Other current assets | (4,392) | 177 |
| Contract liabilities | 20,920 | (4,473) |
| Notes payable | 19,886 | (38,227) |
| Notes payable - related parties | (12,038) | 11,374 |
| Accounts payable | 7,340 | (27,051) |
| Accounts payable - related parties | 1,788 | (1,042) |
| Other payables | (50,282) | 11,805 |
| Other payables - related parties | (3,275) | 2,902 |
| Provisions | 437 | (547) |
| Advance receipts | (12) | 12 |
| Other current liabilities | 1 | 2 |
| Net defined benefit liability | (2,597) | (400) |
| Cash generated from (used in) operations | (111,921) | 95,188 |
| Interest received | 16,134 | 16,949 |
| Income tax paid | (40,280) | (143,024) |
| Net cash outflow from operating activities | (136,067) | (30,887) |
(Continued)
Goodway Machine Corporation
Statements of Cash Flows
For the Years Ended December 31, 2025 and 2024
| Items | 2025 | Unit: NTD thousand 2024 |
|---|---|---|
| (Continued from previous page) | ||
| Cash flows from investing activities | ||
| Acquisitions of financial assets at fair value through other comprehensive income | $ (350) | $ (13,095) |
| Disposal of financial assets at fair value through other comprehensive income | - | 264,592 |
| Acquisitions of financial assets at fair value through profit or loss | (79,310) | (77,033) |
| Disposal of financial assets at fair value through profit or loss | 282,358 | 52,691 |
| Acquisitions of investments accounted for using equity method | - | (10,350) |
| Disposal of investments accounted for using equity method | 17,960 | - |
| Acquisition of property, plant and equipment | (223,870) | (179,512) |
| Disposal of property, plant and equipment | - | 1,405 |
| Decrease in refundable deposits | - | 1,537 |
| Acquisitions of intangible assets | (906) | (11,355) |
| Acquisitions of Investment property | (623) | (467) |
| Decrease (Increase) in other financial assets | 71,289 | (28,626) |
| Increase in prepayments for equipment | (6,114) | (29,437) |
| Dividends received | 134,938 | 236,698 |
| Net cash inflow from investing activities | 195,372 | 207,048 |
| Cash flows from financing activities | ||
| Increase in short-term borrowings | 450,000 | 190,000 |
| Decrease in short-term notes and bills payable | - | (199,872) |
| Make long-term borrowings | 253,987 | 135,050 |
| Decrease in guarantee deposits received | (2,373) | - |
| Repayment of lease principal | (9,097) | (8,954) |
| Cash dividends paid | (331,201) | (441,601) |
| Repurchase cost of treasury stock | (59,978) | - |
| Interest paid | (51,957) | (43,891) |
| Net cash inflow (outflow) from financing activities | 249,381 | (369,268) |
| Increase (decrease) in cash and cash equivalents | 308,686 | (193,107) |
| Cash and cash equivalents at the beginning of year | 482,169 | 675,276 |
| Cash and cash equivalents at the end of year | $ 790,855 | $ 482,169 |
Please refer to the accompanying notes to the financial statements.
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(Attachment)
Goodway Machine Corp.
Earnings Distribution Table for 2025
Unit: NTD
| Items | Amount | |
|---|---|---|
| Subtotal | Total | |
| Unappropriated retained earnings at beginning of the term | 3,576,773,364 | |
| Add: Pension actuarial gains (losses) included in retained earnings | 5,144,844 | |
| Less: Retained earnings debited for cancellation of treasury shares | (47,637,050) | |
| Current period net loss | (529,787,106) | |
| Subtotal | 3,004,494,052 | |
| Earnings allocable in the present term | 3,004,494,052 | |
| Items of distribution in the present term | ||
| Less: Shareholders’ dividend-cash dividend (NTD 0.1/share) | (10,940,042) | |
| Shareholders’ dividend-cash dividend (NTD 0.9/share) | (98,460,330) | |
| Subtotal of distribution in the present term | (109,400,372) | |
| Unappropriated retained earnings at the end of the term (Note 2) | 2,895,093,680 |
Chairman:
Shu-Han Yang
Managerial officer:
Shu-Han Yang
Accounting Supervisor:
Ting-Shuang Lin
Note 1: In accordance with Article 26-1 of the Articles of Incorporation of the Company: the dividends to shareholders shall be issued in cash or shares, however, at least 10% of the dividends to be distributed for the current year shall be distributed in cash.
Note 2: Distribution amount of earnings this time shall come from earnings of 2024 in priority.
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