HannStar Board Corporation and Subsidiaries

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

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.

REPRESENTATION LETTER

The entities that are required to be included in the consolidated financial statements of HannStar Board Corporation as of and for the year ended December 31,2025, under the Criteria Governing the Preparation of Affiliation Reports, Consolidated Business Reports and Consolidated Financial Statements of Affiliated Enterprises are the same as those included in the consolidated financial statements prepared in conformity with the International Financial Reporting Standards No. 10, "Consolidated Financial Statements." In addition, the information required to be disclosed in the consolidated financial statements is included therein. Consequently, HannStar Board Corporation and its subsidiaries do not prepare a separate set of consolidated financial statements.

Very truly yours,

HannStar Board Corporation

March 10, 2026

INDEPENDENT AUDITORS' REPORT

To the Board of Directors and Shareholders of HannStar Board Corporation

Opinion

We have audited the accompanying consolidated financial statements of HannStar Board Corporation and its subsidiaries (the "Group"), which comprise the consolidated 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 the notes to the consolidated financial statements, including a summary of significant accounting policies.

In our opinion, 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 and 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 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 Auditing Standards Generally Accepted in the Republic of China (ROC GAAS). Our responsibilities under those standards are further described in the Auditor's 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 Accountants of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements for the year ended December 31, 2025. 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 consolidated financial statements for the year ended December 31, 2025 are stated as follows:

The Existence of Sales Revenue

The Group engages mainly in the manufacturing, selling and assembling printed circuit boards. For the year ended December 31, 2025, the sales revenue of the Group was NT$57,226,203 thousand. It has been assessed that the authenticity of sales from key customers is significant to consolidated financial statements. The existence of sales revenue from key customers was considered as a key audit matter for the audit of the Group's consolidated financial statements for the year ended December 31, 2025

We have performed our audit procedures to understand the sale procedures of sale revenue and internal control, selecting samples to inspect external orders, shipping documents and receipt vouchers to confirm proper recognition of sales revenue and receive the payment on schedule according to transaction terms.

Other Matter

Among the subsidiaries included in the consolidated financial report, the financial statements of Lincstech Circuit Singapore Pte. Ltd. for the year ended December 31, 2025 were audited by other auditors. Our opinion, in so far as it relates to the amounts of the financial statements of Lincstech Circuit Singapore Pte. Ltd. included in our audit report issued for the above consolidated financial statements, is based on the reports of the other auditors.

The total assets of Lincstech Circuit Singapore Pte. Ltd. were NT$7,384,740 thousand, representing 6.58% of the Group's consolidated total assets as of December 31, 2025. The operating revenue of Lincstech Circuit Singapore Pte. Ltd. from April 8, 2025 to December 31, 2025 were NT$6,874,321 thousand, representing 12.01% of the Group's consolidated total operating revenue for the year from January 1 to December 31, 2025.

The Company has prepared its parent company only financial statements for the years ended December 31, 2025 and 2024, which we have issued an unqualified opinion with an Other Matter paragraph and an unqualified opinion, respectively, which are available for reference.

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 Regulations Governing the Preparation of Financial Reports by Securities Issuers and 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 of the Republic of China., 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 auditor's 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 Auditing Standards Generally Accepted in the Republic of China (ROC GAAS) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

As part of an audit in accordance with the Auditing Standards Generally Accepted in the Republic of China (ROC GAAS), we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the 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 auditor's report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's 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 the disclosures, 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.

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 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.

The engagement partners on the audit resulting in this independent auditors’ report are KER-CHANG WU and CHIH-YI CHANG.

Deloitte & Touche
Taipei, Taiwan
Republic of China

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.

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2025 AND 2024
(In Thousands of New Taiwan Dollars)

	December 31, 2025		December 31, 2024
ASSETS	Amount	%	Amount	%
CURRENT ASSETS
Cash and cash equivalents (Note 4 and 6)	$23,136,146	21	$21,158,826	24
Financial assets at fair value through profit or loss - current (Note 4 and 7)	746,042	1	477,897	1
Financial assets at amortized cost-current (Note 4 and 8)	4,188,202	4	2,921,750	3
Notes receivable (Note 4 and 9)	775,020	1	657,281	1
Accounts receivable (Note 4 and 9)	15,677,959	14	11,896,329	13
Accounts receivable from related parties (Note 4 - 9 and 34)	54,240	-	27,955	-
Other receivables	1,326,370	1	927,590	1
Other receivables from related parties (Note 34)	4,638	-	4,759	-
Inventories (Note 4 and 10)	11,540,279	10	7,604,740	8
Other current assets (Note 19)	609,543	-	301,764	-
Total current assets	58,058,439	52	45,978,891	51
NON-CURRENT ASSETS
Financial assets at fair value through profit or loss - non-current (Note 4 and 7)	412,459	-	411,478	-
Financial assets at fair value through other comprehensive income- non-current (Note 4 and 11)	10,017,347	9	7,390,884	8
Financial assets at amortized cost- non-current (Note 4 and 8)	12,798,398	11	14,330,152	16
Investments accounted for using equity method (Note 4 and 13)	4,309,075	4	4,331,997	5
Property, plant and equipment (Note 4 and 14)	19,150,436	17	13,364,390	15
Right-of-use assets (Note 4 and 15)	1,851,325	2	1,566,248	2
Investment property (Note 4 and 16)	640,153	1	593,189	1
Goodwill (Note 4 and 17)	2,508,750	2	707,039	1
Intangible assets (Note 4 and 18)	1,453,933	1	24,194	-
Deferred income tax assets (Note 4 and 29)	440,027	-	242,918	-
Other non-current assets (Note 19)	598,973	1	469,588	1
Total non-current assets	54,180,876	48	43,432,077	49
TOTAL	$112,239,315	100	$89,410,968	100
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Short-term borrowings (Note 20)	$23,596,728	21	$17,174,806	19
Contract liabilities-current (Note 4 and 25)	-	-	15,781	-
Notes payable	234,948	-	269,485	1
Accounts payable	11,370,484	10	6,898,301	8
Accounts payable to related parties (Note 34)	13,503	-	7,823	-
Other payables (Note 21)	5,851,348	5	4,718,537	5
Other payables to related parties (Note 21 and 34)	52,742	-	6,377	-
Current income tax liabilities (Note 4 and 29)	1,122,348	1	1,138,464	1
Lease liabilities-current (Note 4 and 15)	318,650	1	215,842	-
Current portion of long-term borrowing (Note 20)	104,307	-	678,139	1
Other current liabilities (Note 21)	1,185,008	1	1,040,162	1
Total current liabilities	43,850,066	39	32,163,717	36
NON-CURRENT LIABILITIES
Long-term borrowings (Note 20)	11,774,670	10	7,971,551	9
Deferred income tax liabilities (Note 4 and 29)	1,262,806	1	981,885	1
Lease liabilities-non-current (Note 4 and 15)	738,289	1	463,746	1
Other non-current liabilities (Note 21)	1,021,694	1	414,976	-
Total non-current liabilities	14,797,459	13	9,832,158	11
Total liabilities	58,647,525	52	41,995,875	47
Equity attributable to shareholders of parent share capital (Note 24)
Share capital
Ordinary share	4,861,660	4	4,861,660	5
Capital surplus	4,556,850	4	4,290,990	5
Retained earnings
Legal reserve	3,110,486	2	2,808,273	3
Special reserve	1,009,027	1	1,009,027	1
Unappropriated retained earnings	17,727,902	16	16,257,556	18
Total retained earnings	21,847,415	19	20,074,856	22
Other equity interest	5,042,038	5	3,150,355	4
Treasury Stock	(19,588)	-	(182,034)	-
Total equity attributable to shareholders of parent	36,288,375	32	32,195,827	36
NON-CONTROLLING INTERESTS (Note 24)	17,303,415	16	15,219,266	17
Total equity	53,591,790	48	47,415,093	53
TOTAL	$112,239,315	100	$89,410,968	100

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

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024
(In Thousands of New Taiwan Dollars, Except Earnings Per Share)

	For The Year Ended December 31
	2025		2024
	Amount	%	Amount	%
OPERATION REVENUE (Note 4、25 and 34)	$ 57,226,203	100	$ 41,632,032	100
OPERATION COSTS (Note 10、26 and 34)	45,941,853	80	31,453,874	75
GROSS PROFIT	11,284,350	20	10,178,158	25
OPERATING EXPENSES (Note 26 and 34)
Selling expenses	1,288,696	2	991,047	2
Administrative expenses	3,416,038	6	2,705,382	7
Research and development expenses	497,874	1	376,822	1
Expected credit reversal gain (Note 9)	( 8,941 )	-	( 20,783 )	-
Total operating expenses	5,193,667	9	4,052,468	10
PROFIT FROM OPERATIONS	6,090,683	11	6,125,690	15
NON-OPERATING INCOME AND EXPENSES (Note 4、26 and 34)
Interest income	1,473,318	2	1,535,231	4
Other income	844,683	1	385,315	1
Other gains and losses	( 70,891 )	-	412,833	1
Finance costs	( 734,423 )	( 1 )	( 485,384 )	( 1 )
Share of profit of associates accounted for using equity method	( 658,670 )	( 1 )	( 564,688 )	( 2 )
Total non-operating income and expenses	854,017	1	1,283,307	3
PROFIT BEFORE INCOME TAX	6,944,700	12	7,408,997	18
INCOME TAX EXPENSE (Note 4 and 29)	( 2,219,314 )	( 4 )	( 2,843,147 )	( 7 )
NET PROFIT FOR THE YEAR	4,725,386	8	4,565,850	11
OTHER COMPREHENSIVE INCOME
Components of other comprehensive income that will not be reclassified to profit or loss
Gains on remeasurements of defined benefit plans	( 9,910 )	-	13,260	-
Unrealized gains (losses) from investments in equity instruments measured at fair value through other comprehensive income (loss)	2,623,390	5	( 2,039,783 )	( 5 )
Share of other comprehensive income (loss) of associates accounted for using equity method	245,451	-	( 42,766 )	-
	2,858,931	5	( 2,069,289 )	( 5 )
				(Continued)

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024
(In Thousands of New Taiwan Dollars, Except Earnings Per Share)

	For The Year Ended December 31
	2025		2024
	Amount	%	Amount	%
Components of other comprehensive income that will be reclassified to profit or loss
Exchange differences on translation of financial statement of foreign operations	($ 1,056,895)	( 2 )	$ 2,537,027	6
Share of other comprehensive income of associates accounted for using equity method	( 25,824)	-	40,122	-
	( 1,082,719)	( 2 )	2,577,149	6
Other comprehensive income for the year, net of income tax	1,776,212	3	507,860	1
TOTAL COMPREHENSIVE INCOME FOR THE YEAR	$ 6,501,598	11	$ 5,073,710	12
NET PROFIT ATTRIBUTABLE TO:
Shareholders of parent	$ 2,923,435	5	$ 3,012,223	7
Non-controlling interests	1,801,951	3	1,553,627	4
	$ 4,725,386	8	$ 4,565,850	11
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO:
Shareholders of parent	$ 4,879,657	8	$ 2,957,908	7
Non-controlling interests	1,621,941	3	2,115,802	5
	$ 6,501,598	11	$ 5,073,710	12
EARNINGS PER SHARE (Note 30)
Basic	$ 6.05		$ 5.91
Diluted	$ 6.03		$ 5.89

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

(Concluded)

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

	Ordinary Share	Capital surplus	Legal Reserve	Special Reserve	Unappropriated retained earnings	Exchange Differences on Translation of Financial Statements of Foreign Operations	Other Equity Unrealized gain(loss) on financial assets measured at fair value through other comprehensive income	Total	Treasury Share	Total	Non-Controlling Interests	Total
Balance at January 1, 2024	$ 5,284,413	$ 4,219,051	$ 2,540,052	$ 1,009,027	$14,349,158	( $ 1,533,453 )	$ 4,748,025	$ 3,214,572	$ -	$30,616,273	$13,876,296	$44,492,369
Appropriation of 2023 earnings
Legal reserve	-	-	268,221	-	( 268,221 )	-	-	-	-	-	-	-
Cash dividends	-	-	-	-	( 845,506 )	-	-	-	-	( 845,506 )	-	( 845,506 )
Changes in capital surplus from investment in associates accounted for using the equity method	-	42,288	-	-	-	-	-	-	-	42,288	-	42,288
Net profit for the year ended December 31,2024	-	-	-	-	3,012,223	-	-	-	-	3,012,223	1,553,627	4,565,850
Other comprehensive income (loss) for the year ended December 31,2024, net of income tax	-	-	-	-	16,867	1,641,333	( 1,712,515 )	( 71,182 )	-	( 54,315 )	562,175	507,860
Total comprehensive income (loss) for the year ended December 31,2024	-	-	-	-	3,029,090	1,641,333	( 1,712,515 )	( 71,182 )	-	2,957,908	2,115,802	5,073,710
Capital Reduction	( 422,753 )	-	-	-	-	-	-	-	2,400	( 420,353 )	-	( 420,353 )
Repurchasing Treasury Shares	-	-	-	-	-	-	-	-	( 184,434 )	( 184,434 )	-	( 184,434 )
Changes in capital surplus from investment in subsidiaries accounted for using the equity method	-	47,930	-	-	-	-	-	-	-	47,930	68,456	116,386
Subsidiary subscribe for treasury shares	-	( 1,427 )	-	-	-	-	-	-	-	( 1,427 )	( 16,372 )	( 17,799 )
Employees of subsidiary subscribe for treasury shares	-	( 16,852 )	-	-	-	-	-	-	-	( 16,852 )	142,639	125,787
Changes in non-controlling interests	-	-	-	-	-	-	-	-	-	-	( 967,555 )	( 967,555 )
Disposal by the subsidiary of equity instruments measured at fair value through other comprehensive income	-	-	-	-	( 6,965 )	-	6,965	6,965	-	-	-	-
Balance at December 31, 2024	4,861,660	4,290,990	2,808,273	1,009,027	16,257,556	107,880	3,042,475	3,150,355	( 182,034 )	32,195,827	15,219,266	47,415,093
Appropriation of 2024 earnings
Legal reserve	-	-	302,213	-	( 302,213 )	-	-	-	-	-	-	-
Cash dividends	-	-	-	-	( 1,215,415 )	-	-	-	-	( 1,215,415 )	-	( 1,215,415 )
Changes in capital surplus from investment in associates accounted for using the equity method	-	43,966	-	-	-	-	-	-	-	43,966	-	43,966
Net profit for the year ended December 31,2025	-	-	-	-	2,923,435	-	-	-	-	2,923,435	1,801,951	4,725,386
Other comprehensive income (loss) for the year ended December 31,2025, net of income tax	-	-	-	-	( 4,118 )	( 582,944 )	2,543,284	1,960,340	-	1,956,222	( 180,010 )	1,776,212
Total comprehensive income (loss) for the year ended December 31,2025	-	-	-	-	2,919,317	( 582,944 )	2,543,284	1,960,340	-	4,879,657	1,621,941	6,501,598
Repurchasing Treasury Shares	-	-	-	-	-	-	-	-	( 273,005 )	( 273,005 )	-	( 273,005 )
Changes in capital surplus from investment in subsidiaries accounted for using the equity method	-	116,841	-	-	-	-	-	-	-	116,841	50,376	167,217
Subsidiary subscribe for treasury shares	-	( 29,857 )	-	-	-	-	-	-	-	( 29,857 )	( 245,147 )	( 275,004 )
Employees of subsidiary subscribe for treasury shares	-	35,501	-	-	-	-	-	-	-	35,501	256,435	291,936
Changes in non-controlling interests	-	-	-	-	-	-	-	-	-	-	400,544	400,544
Disposal by the subsidiary of equity instruments measured at fair value through other comprehensive income	-	-	-	-	68,657	-	( 68,657 )	( 68,657 )	-	-	-	-
Employees subscribe for treasury shares	-	99,409	-	-	-	-	-	-	435,451	534,860	-	534,860
Balance at December 31, 2025	$ 4,861,660	$ 4,556,850	$ 3,110,486	$ 1,009,027	$17,727,902	($ 475,064 )	$ 5,517,102	$ 5,042,038	($ 19,588 )	$36,288,375	$17,303,415	$53,591,790

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

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024
(In Thousands of New Taiwan Dollars)

	For The Year ended December 31
	2025	2024
	Amount	Amount
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before income tax	$ 6,944,700	$ 7,408,997
Adjustments for:
Depreciation expense	3,084,760	2,395,488
Amortization expense	149,019	12,110
Expected credit reversal gain recognized on receivables	( 8,941 )	( 20,783 )
Net gain on financial assets or liabilities at fair value through profit or loss	( 164,917 )	( 74,425 )
Finance costs	734,423	485,384
Interest income	( 1,473,318 )	( 1,535,231 )
Dividend income	( 203,026 )	( 138,642 )
Share-based payment	267,908	116,387
Share of loss of associates accounted for using equity method	658,670	564,688
Loss (gain) on disposal of property, plant and equipment	9,391	( 18,496 )
Loss on disposal of non-current assets held for sale	-	360,340
Loss (gain) on disposal of invest	4,660	( 910 )
Impairment loss on inventories	203,694	57,722
Changes in operating assets and liabilities
Financial assets at fair value through profit or loss, mandatorily measured at fair value	508,226	( 182,272 )
Notes receivable	( 69,301 )	( 70,187 )
Notes receivable from related parties	-	1,013
Accounts receivable	( 796,269 )	( 995,277 )
Accounts receivable from related parties	( 17,869 )	1,223
Other receivable	( 389,938 )	43,331
Other receivable from related parties	121	5,239
Inventories	( 2,277,950 )	( 490,820 )
Other current assets	( 140,714 )	( 83,997 )
Other non-current assets	( 29,757 )	( 286,230 )
Contract liabilities	( 15,781 )	7,942
Notes payable	( 34,537 )	( 66,641 )
Accounts payable	2,514,621	1,050,513
Accounts payable to related parties	5,680	( 3,412 )
Other payable	( 198,619 )	457,139
Other payable to related parties	46,365	584
Other current liabilities	137,250	131,840
Other non-current liabilities	( 124,425 )	( 8,613 )
Cash generated from operations	9,324,126	9,124,004
Interest received	1,444,122	1,425,054
Interest paid	( 698,231 )	( 442,471 )
Income tax paid	( 2,605,343 )	( 2,978,188 )
Net cash generated from operating activities	7,464,674	7,128,399
		(Continued)

11 -

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024
(In Thousands of New Taiwan Dollars)

	For The Year ended December 31
	2025	2024
	Amount	Amount
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of financial assets at fair value through other comprehensive income	($ 483,155)	($ 1,845,192)
Proceeds of financial assets at fair value through other comprehensive income	442,811	23,550
Received capital decreased from sale of financial assets at fair value through other comprehensive income	7,980	-
Purchase of financial assets at amortized cost	( 3,074,250)	( 6,619,392)
Proceeds from disposal of financial assets at amortized cost	2,899,491	3,412,664
Purchase of financial assets at fair value through profit or loss	( 2,352,936)	( 511,576)
Proceeds from disposal of financial assets at fair value through profit or loss	1,709,621	500,442
Purchase of investments accounted for using equity method	( 371,130)	( 855,751)
Acquisition of subsidiaries (Note 31)	( 4,878,143)	-
Proceed from disposal of non-current assets held for sale	-	103,712
Acquisition of property, plant and equipment	( 3,251,175)	( 3,502,511)
Proceeds from disposal of property, plant and equipment	46,412	32,878
Decrease in refundable deposits	2,772	10,148
Acquisition of intangible assets	( 20,444)	( 16,456)
Increase in other non-current assets	( 552,824)	( 460,020)
Dividends received	246,278	198,529
Net cash used in investing activities	( 9,628,692)	( 9,528,975)
CASH FLOWS FROM FINANCING ACTIVITIES
Short-term borrowings	6,268,223	5,098,907
Proceeds from long-term borrowings	8,130,144	9,131,417
Repayments of long-term borrowings	( 9,150,967)	( 8,125,000)
Increase in guarantee deposits received	49,452	68,463
Repayments of the principle of lease liabilities	( 266,510)	( 215,932)
Cash dividends paid	( 1,215,415)	( 845,506)
Capital Reduction	-	( 420,353)
Cost of Repurchasing Treasury Shares	( 273,005)	( 184,434)
Treasury stock transferred to employees	434,169	-
Payments of subsidiaries purchase of treasury shares	( 275,004)	( 17,799)
Treasury shares of subsidiary transferred to employees	291,936	125,787
Changes in non-controlling interests	400,544	( 967,555)
Net cash flows used in financing activities	4,393,567	3,647,995
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	( 252,229)	1,218,858
NET INCREASE IN CASH AND CASH EQUIVALENTS	1,977,320	2,466,277
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR	21,158,826	18,692,549
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR	$23,136,146	$21,158,826

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

(Concluded)

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

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

1. GENERAL INFORMATION

HannStar Board Corp. (the Company), a Republic of China (R.O.C.) corporation, formerly Pacific Science and Technology Industrial Co., Ltd., was incorporated on March 22, 1989. The Company engages mainly in the manufacturing and selling printed circuit boards. It was officially renamed as HannStar Board Corp. from December 21, 1998. The company's shares were officially traded on the OTC market in February 2001 and were relisted on the Taiwan Stock Exchange (TWSE) on August 25, 2003.

The company merged Shin Ho Electronics Corp., Ltd. through the interim meeting of shareholders in 2001, in order to expand the business scale, reduce costs and improve operating performance. The base date of the merger was January 1, 2002.

The consolidated financial statements are presented in the Company's functional currency, New Taiwan dollars.

2. APPROVAL OF FINANCIAL STATEMENTS

The consolidated financial statements were approved by the Company's board of directors on February 24, 2026

3. APPLICATION OF NEW, AMENDED AND REVISED STANDARDS AND INTERPRETATIONS

(1) Initial application of the amendments to the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), IFRIC Interpretations (IFRIC), and SIC Interpretations (SIC) (collectively, "IFRSs") did not have a significant effect on the Company accounting policies.

(2) The IFRSs endorsed by the FSC for application starting from 2026

New, Revised or Amended Standards and Interpretations	Effective Date Announced by IASB
Amendments to IFRS 9 and IFRS 7 “Amendments to the Classification and Measurement of Financial Instruments”	January 1, 2026
Amendments to IFRS 9 and IFRS 7 “Contracts Referencing Nature- dependent Electricity”	January 1, 2026
Annual Improvements to IFRS Accounting Standards - Volume 11	January 1, 2026
IFRS 17 “Insurance Contracts” (including the 2020 and 2021 amendments)	January 1, 2023

Up to the date of approval for issuance of these consolidated financial statements, the Group is still assessing the impact of the amendments on its financial position and financial performance. The related effects will be disclosed upon completion of the assessment.

(1) The IFRSs Accounting Standards in issue but not yet endorsed and issued into effect by the FSC

New, Revised or Amended Standards and Interpretations	Effective Date Announced by IASB
Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets between An Investor and Its Associate or Joint Venture”	To be determined by IASB
IFRS 18 "Presentation of Financial Statements and Disclosures"	January 1, 2027
IFRS 19 “Subsidiaries without Public Accountability: Disclosures (including 2025 amendments)”	January 1, 2027
Amendments to IAS 21 "Lack of Exchangeability"	January 1, 2027

Unless stated otherwise, the above IFRSs are effective for annual reporting periods beginning on or after their respective effective dates.

On September 25, 2025, the Financial Supervisory Commission (FSC) announced that IFRS 18 shall be mandatorily adopted by Taiwan enterprises beginning January 1, 2028. Early application will be permitted upon the FSC’s endorsement of IFRS 18.

IFRS 18 "Presentation and Disclosure in Financial Statements"

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

The Group shall assess whether its main business activities include investing in specific types of assets or providing financing to customers, as a basis for classifying income and expenses in the statement of profit or loss into operating, investing, financing, income tax, and discontinued operations categories.

The statement of profit or loss shall present totals and subtotals for operating profit or loss, profit or loss before financing and income taxes and profit or loss.

Provides guidance to enhance the requirements of aggregation and disaggregation: The Company shall identify the assets, liabilities, equity, income, expenses and cash flows that arise from individual transactions or other events and shall classify and aggregate them into groups based on shared characteristics, so as to result in the presentation in the primary financial statements of line items that have at least one similar characteristic. The Company shall disaggregate items with dissimilar characteristics in the primary financial statements and in the notes. The Company labels items as "other" only if it cannot find a more informative label.

Disclosures on Management-defined Performance Measures (MPMs): When the Group communicates, in public communications outside the financial statements, management’s view of an aspect of the Group’s financial performance as a whole to users of the financial statements, the Group shall disclose information about its management-defined performance measures (MPMs) in a single note to the financial statements, including a description of those measures, how they are calculated, reconciliations to the subtotals or totals specified by IFRS Accounting Standards, and the income tax effects and non-controlling interest effects of the related reconciliation items.

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

When preparing cash flows from operating activities using the indirect method, the Group shall use operating profit or loss as the starting point for reconciling cash flows from operating activities.

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Interest and dividends received shall be classified as investing activities, while interest and dividends paid shall be classified as financing activities. If the Group determines that it has specified main business activities, it must consider the categories in which dividend income, interest income, and interest expense are presented in the statement of profit or loss to determine the classification of dividends received, interest received, and interest paid in the statement of cash flows. However, each of these cash flows shall be classified in only one category within the statement of cash flows.

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(1) Statement of compliance

The consolidated financial statements have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and IFRSs as endorsed and issued into effect by the FSC.

(2) Basis of Preparation

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

The fair value is grouped into Levels 1 to 3 based on the measurable and observable degree of its inputs:

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

(3) Classification of current and non-current assets and liabilities

Current assets include:

A. Assets held primarily for the purpose of trading;
B. Assets expected to be realized within 12 months after the reporting period; and
C. Cash and cash equivalents unless the assets are restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period.

Current liabilities include:

A. Liabilities held primarily for the purpose of trading;
B. Liabilities due to be settled within 12 months after the reporting period, even if an agreement to refinance, or to reschedule payments, on a long-term basis is completed after the reporting period and before the consolidated financial statements are authorized for issue; and
C. Liabilities for which the Group does not have an unconditional right to defer settlement for at least 12 months after the reporting period. Terms of a liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do not affect its classification.

Assets and liabilities that are not classified as current are classified as non-current.

The Group is engaged in the construction business, which has an operating cycle of over 1 year.

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The normal operating cycle applies when considering the classification of the Group’s construction-related assets and liabilities.

(4) Basis of consolidation

The consolidated financial statements incorporate the financial statements of the Company and the entities controlled by the Company (its subsidiaries). Income and expenses of subsidiaries acquired or disposed of during the period are included in the consolidated statement of comprehensive income from the effective dates of acquisitions up to the effective dates of disposals, as appropriate. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the Company. All intra-group transactions, balances, income and expenses are eliminated in full upon consolidation. Total comprehensive income of subsidiaries is attributed to the owners of the Company and to the non-controlling interests even if the comprehensive income of the non-controlling interests having a deficit balances.

Changes in the Group’s ownership interests in subsidiaries that do not result in the Group losing control over the subsidiaries are accounted for as equity transactions. The carrying amounts of the interests of the Group and the non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the Company.

Please refer to Note 12 and attached Table 4, 10 and 11 for including shareholding percentages and principal business activities.

(5) Business Combinations

Business combinations are accounted for using the acquisition method. Acquisition-related costs are recognized as expenses in the periods in which the costs are incurred and the services are received.

Goodwill is measured as the excess of the aggregate of the fair value of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest in the acquiree at the acquisition date, over the net of the identifiable assets acquired and liabilities assumed at the acquisition date.

When the consideration transferred by the Group in a business combination includes assets or liabilities arising from a contingent consideration arrangement, the contingent consideration is measured at its fair value at the acquisition date and included as part of the consideration transferred in exchange for the acquiree. Changes in the fair value of contingent consideration that qualify as measurement period adjustments are adjusted retrospectively against the acquisition cost, with a corresponding adjustment to goodwill. Measurement period adjustments are those adjustments that arise from additional information obtained during the “measurement period” (which shall not exceed one year from the acquisition date) about facts and circumstances that existed as of the acquisition date.

(6) Foreign currencies

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

At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Such exchange differences are recognized in

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profit or loss in the year in which they arise.

Non-monetary items that are measured in terms of historical cost in foreign currencies are not retranslated.

For the purposes of presenting consolidated financial statements, the assets and liabilities of the Company's foreign operations (including of the subsidiaries and associates in other countries or currencies used different with the Company) are translated into New Taiwan dollars using exchange rates prevailing at the end of each reporting period. Income and expense items are translated at the average exchange rates for the period. Exchange differences arising, if any, are recognized in other comprehensive income and attributed to stockholders of the parent and non-controlling interests as appropriate.

On the disposal of a foreign operation (a disposal of the Group's entire interest in a foreign operation, or a disposal involving the loss of control over a subsidiary that includes a foreign operation), all of the exchange differences accumulated in equity in respect of that operation attributable to the owners of the Company are reclassified to profit or loss.

In relation to a partial disposal of a subsidiary that does not result in the Group losing control over the subsidiary, the proportionate share of accumulated exchange differences is re-attributed to the non-controlling interests of the subsidiary and is not recognized in profit or loss. For all other partial disposals, the proportionate share of the accumulated exchange differences recognized in other comprehensive income is reclassified to profit or loss.

(7) Inventories

Inventories consist of raw materials, supplies; finished goods and work-in-process are stated at the lower of cost or net realizable value. The inventory cost, unless it is of the same kind, is compared with net realizable value item by item. The net realizable value is the estimated selling price of inventories less all estimated costs of completion and costs necessary to make the sale. Inventories are recorded at weighted-average cost on the balance sheet date.

Inventories in the construction industry include construction land and construction-in-progress inventories. The cost of acquisition or construction cost is used as the entry basis, and the cost is calculated separately for each project. Interest expenses that must be borne by a construction in progress before the completion of the project are capitalized as part of its construction cost.

(8) Investment in associates

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

The Group uses the equity method of account for its investment in associates.

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

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

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

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

The entire carrying amount of the investment (including goodwill) is tested for impairment as a single asset by comparing its recoverable amount with its carrying amount. Any impairment loss recognized is not allocated to any asset, including goodwill that forms part of the carrying amount of investment. Any reversal of that impairment loss is recognized to the extent that the recoverable amount of the investment subsequently increases.

The Group discontinues the use of the equity method from the date on which it ceases to have significant influence over the associate. Any retained investment is measured at fair value at that date and the fair value is regarded as its fair value on initial recognition as a financial asset. The difference between the previous carrying amount of the associate attributable to the retained interest and its fair value is included in the determination of the gain or loss on disposal of the associate. The Group accounts for all amounts previously recognized in other comprehensive income in relation to that associate on the same basis as would be required if that associate had directly disposed of the related assets or liabilities.

When the Group entity transacts with its associate, profits and losses resulting from the transactions with the associate are recognized in the Group’s consolidated financial statements only to the extent of interests in the associate that are not related to the Group.

(9) Property, plant and equipment

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

Construction in progress is recognized at cost less any accumulated impairment losses. Cost includes professional fees and borrowing costs that qualify for capitalization. Such assets are classified to the appropriate categories of property, plant and equipment when completed and ready for their intended use, and depreciation commences at that time.

Except for freehold land, which is not depreciated, all other items of property, plant and equipment are depreciated on a straight-line basis over their useful lives. Each significant component is depreciated separately. The Group reviews the estimated useful lives, residual values, and depreciation methods at least at each financial year-end, with the effects of any changes in accounting estimates accounted for on a prospective basis.

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

(10) Investment properties

Investment property is property held to earn rentals or for capital appreciation, or both (including right-of-use assets that meet the definition of investment property). Owner-occupied investment property is initially measured at cost, including transaction costs. Subsequently, it is measured at cost less accumulated depreciation and accumulated impairment losses.

Investment property acquired through a lease is initially measured at cost, comprising the initial measurement of the lease liability, any lease payments made at or before the commencement date, any initial direct costs, and an estimate of costs to restore the underlying asset, less any lease incentives received. Subsequently, it is measured at cost less accumulated depreciation and accumulated impairment losses, with adjustments made for any remeasurement of the lease liability.

All investment property is depreciated on a straight-line basis. Upon derecognition of an investment property, the difference between the net disposal proceeds and the carrying amount of the asset is recognized in profit or loss.

(11) Goodwill

Goodwill arising from the acquisition of a business is initially measured at cost. Subsequent to initial recognition, goodwill is measured at cost less accumulated impairment.

For the purposes of impairment testing, goodwill is allocated to each of the Group's cash-generating units that are expected to benefit from the synergies of the combination.

A cash-generating unit to which goodwill has been allocated is tested for impairment annually or more frequently whenever there is an indication that the unit may be impaired, by comparing its carrying amount, including the attributed goodwill, with its recoverable amount. However, if the goodwill allocated to a cash-generating unit was acquired in a business combination during the current annual period, that unit shall be tested for impairment before the end of the current annual period. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then pro rata to the other assets of the unit based on the carrying amount of each asset in the unit. Any impairment loss is recognized directly in profit or loss. Any impairment loss recognized for goodwill is not reversed in subsequent periods.

(12) Intangible assets

A. Acquired Separately

Intangible assets with finite useful lives that are acquired separately are initially measured at cost and subsequently measured at cost less accumulated amortization and accumulated impairment. Amortization is recognized on a straight-line basis. The estimated useful lives, residual values, and amortization methods are reviewed at the end of each reporting period, with the effect of any changes in the estimates accounted for on a prospective basis. Intangible assets with indefinite useful lives that are acquired separately are measured at cost less accumulated impairment.

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B. Acquired in a Business Combination

Intangible assets acquired in a business combination are recognized at their fair value at the acquisition date and are recognized separately from goodwill. Subsequent measurement is consistent with that of intangible assets acquired separately.

C. Derecognition

The difference between the sales proceeds and the carrying amount of an item of intangible assets to be disposed will be determined as disposal gain or loss and is recognized in profit or loss.

(13) Impairment of property, plant and equipment, right-of-use asset, investment properties and intangible assets other than goodwill

At the end of each reporting period, the Group reviews the carrying amounts of its property, plant and equipment, right-of-use asset, investment properties and intangible assets other than goodwill, to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss. When it is not possible to estimate the recoverable amount of an individual asset, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs. Corporate assets are allocated to the individual cash-generating units on a reasonable and consistent basis.

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually when there is an indication that the assets may be impaired.

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

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

(14) Non-current assets held for sale

Non-current assets are classified as held for sale if their carrying amounts will be recovered principally through a sale transaction rather than through continuing use. This condition is regarded as met only when the sale is highly probable and the non-current asset is available for immediate sale in its present condition. To meet the criteria for the sale being highly probable, the appropriate level of management must be committed to the sale, and the sale should be expected to qualify for recognition as a completed sale within 1 year from the date of classification.

Non-current assets classified as held for sale are measured at the lower of their previous carrying amount and fair value less costs to sell. Such assets classified as held for sale are not depreciated.

(15) Financial instruments

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

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

A. Financial assets

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

a. Measurement category

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

(a) Financial assets at FVTPL

Financial assets are classified as at FVTPL when such a financial asset is mandatorily classified or designated as at FVTPL. Financial assets mandatorily classified as at FVTPL include investments in equity instruments which are not designated as at FVTOCI and debt instruments that do not meet the amortized cost criteria or the FVTOCI criteria.

Financial assets at FVTPL are subsequently measured at fair value, with any gains or losses arising on remeasurement recognized in profit or loss. The net gain or loss recognized in profit or loss. Fair value is determined in the manner described in Note 32.

(b) Financial assets at amortized cost

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

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

Subsequent to initial recognition, financial assets at amortized cost, including cash and cash equivalents, trade receivables at amortized cost are measured at amortized cost, which equals the gross carrying amount determined using the effective interest method less any impairment loss. Exchange differences are recognized in profit or loss.

Interest income is calculated by applying the effective interest rate to the gross carrying amount of such a financial asset, except for:

i. Purchased or originated credit-impaired financial assets, for which interest income is calculated by applying the credit-adjusted effective interest rate to the amortized cost of such financial assets; and
ii. Financial assets that are not credit-impaired on purchase or origination but have

21 -

subsequently become credit-impaired, for which interest income is calculated by applying the effective interest rate to the amortized cost of such financial assets in subsequent reporting periods.

Credit impairment financial assets refer to the issuer or debtor's occurrence of major financial difficulties, breach of contract, the debtor's likely application for bankruptcy or other financial reorganization, or the disappearance of the active market of financial assets due to financial difficulties.

Cash equivalents include time deposits with original maturities within 3 months from the date of acquisition or time deposits with original maturities within 3-12 months from the date of acquisition and the interest paid to deposits which are terminated before maturity are higher than demand deposits, which are highly liquid, readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value. These cash equivalents are held for the purpose of meeting short-term cash commitments.

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

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

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

b. Impairment of financial assets

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

The Group always recognizes lifetime Expected Credit Losses (ECLs) for trade receivables and operating/finance lease receivables. For all other financial instruments, the Group recognizes lifetime ECLs when there has been a significant increase in credit risk since initial recognition. If, on the other hand, the credit risk on the financial instrument has not increased significantly since initial recognition, the Group measures the loss allowance for that financial instrument at an amount equal to 12-month ECLs.

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

For internal credit risk management purposes, the Group determines that the following situations indicate a financial asset is in default (without taking into account any collateral held by the Group):

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(a) Internal or external information shows that the debtor is unlikely to pay its creditors.

(b) When a financial asset has been passed due for more than 60 days; unless the Group has reasonable and corroborative information supporting the default criterion to be postponed.

The Group recognizes an impairment loss in profit or loss for all financial instruments with a corresponding adjustment to their carrying amount through a loss allowance account, except for investments in debt instruments that are measured at FVTOCI, for which the loss allowance is recognized in other comprehensive income and does not reduce the carrying amount of the financial asset.

c. Derecognition of financial assets

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

On derecognition of a financial asset at amortized cost, the difference between the asset's carrying amount and the sum of the consideration received is recognized in profit or loss. On derecognition of an investment in an equity instrument reclassified at FVTOCI, the cumulative gain or loss which had been recognized in other comprehensive income is directly to re-classify as retained earnings, instead of profit or loss.

B. Financial liabilities

a. Subsequent measurement

Financial liabilities are subsequently measured at amortized cost using the effective interest method.

Financial liabilities at FVTPL

Financial liabilities are classified as at FVTPL when such financial liabilities are either held for trading or are designated as at FVTPL.

Financial liabilities held for trading are stated at fair value, and any gains or losses on such financial liabilities are recognized in other gains or losses; any remeasurement gains or losses on such financial liabilities are recognized in other gains or losses.

b. Derecognition of financial liabilities

The difference between the carrying amount of a financial liability derecognized and the consideration paid and payable is recognized in profit or loss.

(16) Provisions

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

A. Warranties

The Group recognizes warranty obligations under sales contracts at the date the related

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goods are recognized as revenue, based on management’s best estimate of the expenditures required to settle the present obligation.

B. Decommissioning and Restoration Obligations

In accordance with the lease agreements, the Group is required to restore leased factories to their original condition at the end of the lease term. The Group recognizes a provision for such obligations at the present value of the best estimate of the future economic outflows required to settle the restoration obligation under the lease contracts.

(17) Revenue recognition

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

The Group’s sales revenue comes from assembling and sales of PCB. Sales revenue and accounts receivable of assembling and sales of PCB are recognized as revenue when the goods are delivered to the customer’s specific location and the customer can, at its discretion, dispose the goods or to decide the selling price of the goods when the customers have the responsibility to re-sell the goods to ultimate customers. The customers also undertake the risks of obsolescence of the goods.

The Group does not recognize any revenue when materials are delivered to subcontractors because the title of control is not transferred along with the delivery.

The sale of real estate receives a fixed transaction price in installments and recognizes the contract liability. The commission paid for the sale of real estate is classified as the incremental cost of obtaining the contract, and is recognized as the contract asset before the completion of the Group’s performance. Revenue is recognized when the real estate completed and delivered to the buyer.

(18) Leases

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

A. The Group as lessor

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

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

When the Group subleases a right-of-use asset, it classifies the sublease by reference to the right-of-use asset (rather than the underlying asset). However, if the head lease is a short-term lease for which the Group applies the recognition exemption, the sublease is classified as an operating lease.

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

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

B. The Group as lessee

Except for payments for short-term leases and low-value asset leases which are recognized as expenses on a straight-line basis, the Group recognizes right-of-use assets and lease liabilities for all leases at the commencement date of the lease.

Right-of-use assets are initially measured at cost, which comprises the initial measurement of lease liabilities adjusted for lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs needed to restore the underlying assets, and less any lease incentives received. Right-of-use assets are subsequently measured at cost less accumulated depreciation and impairment losses and adjusted for any remeasurement of the lease liabilities. Right-of-use assets are presented on a separate line in the consolidated balance sheets.

Except for those that meet the definition of investment property, right-of-use assets are presented separately in the consolidated balance sheet. For right-of-use assets that meet the definition of investment property, their recognition and measurement shall refer to the accounting policy for investment property as described in Note (10).

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

Lease liabilities are initially recognized at the present value of the lease payments. The lease payments are discounted using the interest rate implicit in a lease, if that rate can be determined. If that rate cannot be determined, the Group uses the lessee's incremental borrowing rate as the discount rate.

Subsequently, lease liabilities are measured at amortized cost using the effective interest method, with interest expense recognized over the lease terms. When there is a change in a lease term, the Group remeasures the lease liabilities with a corresponding adjustment to the right-of-use-assets. However, if the carrying amount of the right-of-use assets is reduced to zero, any remaining amount of the remeasurement is recognized in profit or loss. Lease liabilities are presented on a separate line in the consolidated balance sheets.

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

(19) Borrowing costs

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

25 -

Other than that stated above, all other borrowing costs are recognized in profit or loss in the period in which they are incurred.

(20) Government grants

Government grants are not recognized until there is reasonable assurance that the Group will comply with the conditions attached to them and that the grants will be received.

Government grants are recognized in profit or loss on a systematic basis over the periods in which the Group recognizes as expenses the related costs for which the grants are intended to compensate. Government grants whose primary condition is that the Group should purchase, construct or otherwise acquire non-current assets are recognized as deferred revenue and transferred to profit or loss on a systematic and rational basis over the useful lives of the related assets.

Government grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the Group with no future related costs are recognized in profit or loss in the period in which they are received.

Government grants that take the form of a transfer of a non-monetary asset for the use of the entity are recognized and measured at the fair value of the non-monetary asset.

(21) Employee benefits

A. Short-term employee benefits

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

B. Retirement benefits

Payments to defined contribution retirement benefit plans are recognized as expenses when employees have rendered services entitling them to the contributions.

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

Net defined benefit liabilities (assets) represent the actual deficit (surplus) in the Group’s defined benefit plans. Any surplus resulting from this calculation is limited to the present value of any refunds from the plans or reductions in future contributions to the plans.

C. Other long-term employee benefits

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

D. Termination benefits

26 -

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

(22) Employee share options

The fair value at the grant date of the employee share options is expensed on a straight-line basis over the vesting period, based on the Group’s best estimates of the number of shares or options that are expected to ultimately vest, with a corresponding increase in capital surplus - employee share options. It is recognized as an expense in full at the grant date if vested immediately.

At the end of each reporting period, the Group revises its estimate of the number of employee share options that are expected to vest. The impact of the revision of the original estimates is recognized in profit or loss such that the cumulative expenses reflect the revised estimate, with a corresponding adjustment to capital surplus - employee share options.

(23) Taxation

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

A. Current tax

Income tax payable (recoverable) is based on taxable profit (loss) for the year determined according to the applicable tax laws of each tax jurisdiction.

According to the Income Tax Law of the ROC, an additional tax on unappropriated earnings is provided for in the year the shareholders approve to retain earnings.

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

B. Deferred tax

Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities and the corresponding tax bases used in the computation of taxable profit.

Deferred tax liabilities are generally recognized for all taxable temporary differences. Deferred tax assets are generally recognized for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilized.

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

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

27 -

it has become probable that future taxable profit will allow the deferred tax asset to be recovered.

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

The Group has applied the exception to the recognition and disclosure of deferred tax assets and liabilities related to Pillar Two income taxes. Accordingly, the Group neither recognizes nor discloses information about deferred tax assets and liabilities arising from Pillar Two income taxes.

C. Current and deferred taxes

Current and deferred taxes are recognized in profit or loss, except when they relate to items that are recognized in other comprehensive income or directly in equity; in which case, the current and deferred taxes are also recognized in other comprehensive income or directly in equity, respectively. Where current tax or deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination.

5. CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION AND UNCERTAINTY

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

In developing significant accounting estimates, the Group incorporates the relevant effects into the consideration of such estimates. Management continually reviews the estimates and underlying assumptions.

The accounting policies, estimates, and underlying assumptions adopted by the Group have been evaluated by management, and there are no significant accounting judgments or material uncertainties relating to estimates and assumptions.

6. CASH AND CASH EQUIVALENTS

	December 31
	2025	2024
Cash	$ 2,604	$ 3,164
Deposits in banks	11,564,929	13,292,242
Cash equivalents
Time deposits with original maturities of less than 1 years	11,568,613	7,797,850
Repurchase Agreement	-	65,570
	$ 23,136,146	$ 21,158,826

FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS

	December 31
	2025	2024
Financial assets at fair value through profit or loss-current
Derivative financial assets (no hedging specified)
—Foreign exchange forward contracts(3)	$ 2,710	$ -
—Foreign exchange swap contract (4)	16,903	703
Non-derivative financial assets
—Domestic listed (OTC) stocks (1)	62,000	96,750
—Fund beneficiary certificate (1)	103,715	380,444
Hybrid financial assets
—Structured deposits (2)	560,714	-
	$ 746,042	$ 477,897
Financial assets at fair value through profit or loss non-current
Non-derivative financial assets
—Capital bond beneficiary certificate (1)	$ 362,642	$ 361,914
—Limited partnership(1)	49,817	49,564
	$ 412,459	$ 411,478

(1) For the year ended 2025 and 2024, the net profit from the evaluation of non-derivative financial assets of the Group were NT$ 33,131 thousand and NT$ 79,009 thousand respectively.

(2) The Group entered into a short-term stock price-linked contract with banks. The stock price-linked contract includes an embedded derivative instrument which is closely related to the host contract, or its actual income is determined by the agreement rate. The entire contract is assessed and mandatorily classified as at FVTPL due to it contains a host contract that is an asset within the scope of IFRS 9. The Group’s net profit from short-term stock price-linked contract for the year ended 2025 and 2024 were NT$ 36,785 thousand and NT$ 2,962 thousand respective.

(3) For the year ended 2025 and 2024, the net loss of engaging forward foreign exchange by the Group were NT$ 1,057 thousand and NT$ 8,239 thousand respectively. The mainly purpose of the transaction were hedge the risk from foreign currency assets and liabilities by the wave of exchange rate. The transaction of the Group engaging forward foreign exchange do not meet the effective hedging conditions, so they were not applicable for hedge accounting. The forward foreign exchange contract that were not yet due on the balance sheet date were as follows:

December 31, 2025

	Currency	Maturity period	Contract amount (In Thousands)
Selling forward foreign exchange	US dollar to RMB	2026.01.23	USD	18,000
			RMB	126,615

(4) For the year ended 2025 and 2024, the Group's net profit from foreign exchange swap contract was NT$ 96,058 thousand and NT$ 693 thousand respectively. The mainly purpose of the transaction were hedge the risk from foreign currency assets and liabilities by the wave of exchange rate. The transaction of the Group engaging foreign exchange swap transaction do not meet the effective hedging conditions, so they were not applicable for hedge accounting. The foreign exchange swap contract that were not yet due on the balance sheet date were as follows:

December 31, 2025

Currency	Maturity period	Contract amount (In Thousands)
HKD to US dollar	2026.01.20-2026.12.21	HKD	247,484
		USD	32,000

December 31, 2024

Currency	Maturity period	Contract amount (In Thousands)
HKD to US dollar	2025.12.22	HKD	77,404
		USD	10,000
RMB to US dollar	2025.02.12-2025.02.20	RMB	213,226
		USD	30,000

8. FINANCIAL ASSETS AT AMORTIZED COST

	December 31
	2025	2024
Current
Time deposits with original maturities of more than 1 years (Maturity date with in 1 year) (1)	$ 2,634,772	$ 2,042,586
Treasury Bonds (2)	140,253	-
Corporate bonds (3)	333,558	228,716
Structured deposits (4)	-	322,315
Restricted bank deposits (5)	1,079,619	328,133
	$ 4,188,202	$ 2,921,750
Non-current
Time deposits with original maturities of more than 1 years (1)	$ 494,628	$ 3,131,248
Treasury Bonds (2)	314,307	472,262
Corporate bonds (3)	11,989,463	10,726,642
	$12,798,398	$14,330,152

(1) The ranges of interest rates for time deposits with maturities of more than 1 year were $2.35\% \sim 3.75\%$ and $2.35\% \sim 3.75\%$ per annum as of December 31, 2025 and 2024.
(2) The Group bought 2 to 10-years treasury bonds with a coupon rate of $1.50\% \sim 5.25\%$ and effective interest rate of $3.53\% \sim 4.70\%$ .
(3) The Group bought 2 to 10-years corporate bonds with a coupon rate of $1.34\% \sim 8.75\%$ and effective interest rate of $3.88\% \sim 5.90\%$ .
(4) The ranges of interest rates for structured deposits was $1.40\% \sim 2.62\%$ per annum as of December 31, 2024.
(5) Information on the pledged financial assets at amortized cost, please refer to note 35.

NOTES AND ACCOUNTS RECEIVABLE, NET

	December 31
	2025	2024
Notes receivable
Gross carrying amount	$ 775,020	$ 657,281
Less: Allowance for impairment loss	-	-
	$ 775,020	$ 657,281
Accounts receivable
At amortized cost
Gross carrying amount	$ 15,747,356	$ 11,966,179
Less: Allowance for impairment loss	( 69,397)	( 69,850)
	$ 15,677,959	$ 11,896,329
Accounts receivable from related parties
(Note 34)
At amortized cost
Gross carrying amount	$ 54,768	$ 36,899
Less: Allowance for impairment loss	( 528)	( 8,944)
	$ 54,240	$ 27,955

(1) Notes receivable

All the notes receivable of the Group as of December 31, 2025 and 2024 were not past due. The Group evaluates that the expected recoverable amount is equivalent to the original amount, therefore no allowance loss has been accounted for.

(2) Accounts receivable

The average credit period of sales was 30 to 180 days. No interest is charged on trade receivables. The Group adopted a policy of new customers' credit rating and, when necessarily, obtained sufficient collateral to mitigate the risk of financial loss from defaults. The Group uses other publicly available financial information or its own trading records to rate its major customers. The Groups continuously monitored the credit ratings of its customers and its credit exposure. To control the credit exposure, the Group will decide a transaction limit for customers.

In order to minimize credit risk, the management of the Group has delegated a team responsible for determining credit limits, credit approvals and other monitoring procedures to ensure that action is taken to recover overdue debts. In addition, the Group reviews the recoverable amount of each individual trade receivable at the end of the year to ensure that adequate allowance is made for possible irrecoverable amounts. In this regard, the management believes the Group's credit risk was significantly reduced.

The Group measures the loss allowance for trade receivables at an amount equal to lifetime ECLs. The expected credit losses on trade receivables are estimated using an expected credit loss rate that considered the past default experience of the debtor and the debtor's current financial position, general economic conditions of the industry and also takes into account GDP forecasts and industry outlook. As the Group's historical credit loss experience shows that there are no significantly differences in the loss patterns of different customer groups, the credit loss rate of accounts receivable is not differentiated according to the Group's different customer groups and is based on the accounts receivable overdue days analysis.

The Group writes off a trade receivable when there is evidence indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery. For trade receivables that have been written off, the Group continues to engage in enforcement activity to attempt to recover the receivables due. Where recoveries are made, these are recognized in profit or loss.

The following table details the loss allowance of trade receivables based on expected credit loss rate of account receivable were as follow:

December 31, 2025

	Not Past Due	1 to 90 Days Past Due	91 to 180 Days Past Due	Over 180 Days Past Due	Total
Expected credit loss rate	0%	0%-20%	20%	50%-100%
Gross carrying amount	$ 14,648,284	$ 1,062,087	$ 86,364	$ 5,389	$15,802,124
Loss allowance (Lifetime ECLs)	-	( 48,448)	( 17,273)	( 4,204)	( 69,925)
Amortized cost	$ 14,648,284	$ 1,013,639	$ 69,091	$ 1,185	$15,732,199

December 31, 2024

	Not Past Due	1 to 90 Days Past Due	91 to 180 Days Past Due	Over 180 Days Past Due	Total
Expected credit loss rate	0%	0%-20%	20%	50%-100%
Gross carrying amount	$ 11,186,703	$ 766,601	$ 16,020	$ 33,754	$12,003,078
Loss allowance (Lifetime ECLs)	-	( 50,973)	( 3,204)	( 24,617)	( 78,794)
Amortized cost	$ 11,186,703	$ 715,628	$ 12,816	$ 9,137	$11,924,284

The movements of the loss allowance of trade receivables were as follows:

	For The Year Ended December 31
	2025	2024
Balance at January 1	$ 78,794	$ 116,758
Provision (reversal of profit)	( 8,941 )	( 20,783)
Written off amounts	-	( 20,683)
Acquired through a corporate merger	340	-
Foreign exchange gains and losses	( 268)	3,502
Balance at December 31	$ 69,925	$ 78,794

INVENTORIES

	December 31
	2025	2024
Manufacturing inventory
Raw materials	$ 3,418,467	$ 2,168,813
Work in progress	3,782,244	1,210,748
Finished goods	2,912,079	2,531,416
Inventory in transit	63,880	66,993
	10,176,670	5,977,970
Construction inventory
Residential and commercial buildings in Chongqing
Buildings and land held for sale	1,363,609	1,626,770
	$ 11,540,279	$ 7,604,740

(1) For the year ended December 31, 2025 and 2024, the cost of goods sold related to inventory were as follows:

	For The Year Ended December 31
	2025	2024
Cost of goods sold	$ 45,941,853	$ 31,453,874

(2) For the year ended December 31, 2025 and 2024, the cost of goods sold including inventory write-down, inventory obsolete losses and idle capacity loss was as follows:

	For The Year Ended December 31
	2025	2024
Inventory write-down and inventory obsolete losses	$ 203,694	$ 57,722
Idle Capacity Loss	$1,226,844	$1,223,488

(3) Construction inventory refers to the land and engineering cost invested in the development of residential and commercial buildings in Chongqing of Chongqing Dunning Real Estate Co., Ltd., a subsidiary of the company, have been fully completed and reclassified as property for sale, along with the related contract revenue disclosures, , please refer to note 25.

11. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

	December 31
	2025	2024
Non-current
Domestic investment
Listed stocks
Walsin Technology Corp.	$ 7,615,249	$ 5,641,352
Walton Advanced Engineering, Inc.	844,329	205,916
TXC Corporation	423,708	513,556
Non-listed stocks
Tsai Yi Co., Ltd.	329,205	272,455
Chin-Xin Investment Co., Ltd	489,255	186,290
Chiang Yei Precision Industrial Co., Ltd.	-	3,847
Foreign investment
Listed stocks	306,827	567,468
Unlisted stocks	8,774	-
	$ 10,017,347	$ 7,390,884

The Group invests in the common stock of the above-mentioned companies in accordance with its medium and long-term strategy and expects to profit from long-term investments. The management of the Group believes that if the short-term fluctuations on fair value of these investments are included in profit or loss, it will be inconsistent with the Group's aforementioned medium and long-term investment strategy, and therefore, the management chooses to designate these investments as measured at fair value through other comprehensive income or loss.

For the year ended December 31, 2025 and 2024, the Group sold part of its shares in foreign list stocks for adjust investment positions to diversify risks purposes, the related unrealized valuation profit (loss) of $68,657 thousand and $(6,965) thousand respectively, were transferred from other equity to retained earnings.

12. SUBSIDIARIES

Subsidiaries included in the consolidated financial statements

In addition to the company, the consolidated financial reporting entities include:

Investor	Investee	Nature of Activities	Proportion of Ownership (%)
			December 31, 2025	December 31, 2024
HannStar Board Corp.	HannStar Board (BVI) Holdings Corp.	Investment	100%	100%
HannStar Board Corp.	Global Brands Manufacture Ltd.	Production, marketing & assembly of printed circuit board	40.30% (Note 8)	40.68%
HannStar Board (BVI) Holdings Corp.	HannStar Board International Holdings Ltd.	Investment	100%	100%
HannStar Board (BVI) Holdings Corp.	HannStar Board Investments (Hong Kong) Limited	Investment	100%	100%
HannStar Board International Holdings Ltd.	HannStar Board Holdings (Hong Kong) Ltd.	Investment	100%	100%
HannStar Board Holdings (Hong Kong) Ltd.	HannStar Board Tech. (Jiangyin) Corp.	PCB production & sales	100%	100%
HannStar Board Investments (Hong Kong) Limited	GHPW Enterprise Corporation (Hong Kong) Ltd.	Investment	15% (Note 1)	15% (Note 1)
GHPW Enterprise Corporation (Hong Kong) Ltd.	GHPW Enterprise Corporation (CQ) Ltd	Enterprise real estate management	100%	100%
HannStar Board Tech. (Jiangyin) Corp.	Chongqing Shuohong Investment Co., Ltd.	Investment	25.65% (Note 2)	25.65% (Note 2)
Chongqing Shuohong Investment Co., Ltd.	Chongqing Dunning Real Estate Co., Ltd.	Enterprise real estate management	100% (Note 4)	100% (Note 4)
Global Brands Manufacture Ltd.	Up First Investments Ltd.	Investment	100% (Note 10)	100% (Note 10)
Global Brands Manufacture Ltd.	Dynamic Skyline Ltd.	Investment	100%	100%
Global Brands Manufacture Ltd.	Success Ocean Investments Ltd.	Investment	100%	100%
Global Brands Manufacture Ltd.	Cheng Enterprise Co., Ltd.	Plant lease and property managements	100%	100%
Global Brands Manufacture Ltd.	Falcon Automation Equipment Corp.	Manufacturing of machine and equipment	50.24%	50.24%
Global Brands Manufacture Ltd.	Lincstech EPC Co., Ltd. (Notes 13)	Manufacturing and sale of PCB	100%	100%
Global Brands Manufacture Ltd.	GBM Electronics (M) Sdn.Bhd.	Fabrication and sale of PCB	100% (Notes 5)	100% (Notes 5)
Global Brands Manufacture Ltd.	Lincstech Co., Ltd.	Manufacturing and sale of PCB	100% (Notes 7)	-
Up First Investments Ltd.	Chuan Yi Computer (Shenzhen) Co., Ltd.	Manufacturing and sale of PCB	100%	100%
Up First Investments Ltd.	Yi-Kuan Electronics (Shenzhen) Co., Ltd.	Sale of PCB	100%	100%
Up First Investments Ltd.	Forever Line Ltd.	Investment	100% (Notes 11)	100% (Notes 11)
Up First Investments Ltd.	Chuan Yi Computer (Chongqing) Co., Ltd.	Manufacturing and sale of PCB	100%	100%
Up First Investments Ltd.	Ever-Precise Recycle Company	Waste recycling and wastewater treatment	100%	100%
Up First Investments Ltd.	Jincheng Yuanmao Electronic Technology (Chongqing) Co., Ltd.	Property Management	100%	100%

34 -

Investor	Investee	Nature of Activities	Proportion of Ownership (%)
			December 31, 2025	December 31, 2024
Up First Investments Ltd.	Effort Growth Developments Ltd.	Investment	100%	100%
Up First Investments Ltd.	GBM UP(HK) Ltd.	Investment	100%	100%
GBM UP(HK) Ltd.	GHPW Enterprise Corporation (Hong Kong) Ltd.	Investment	30% (Note 1)	30% (Note 1)
Chuan Yi Computer (Shenzhen) Co., Ltd.	Chongqing Shuohong Investment Co., Ltd.	Investment	12.83% (Note 2)	12.83% (Note 2)
Effort Growth Developments Ltd.	Kunshan Xiongqiang Electronics Technology Co., Ltd.	Property Management	100%	100%
Forever Line Ltd.	Kunshan Yuanmao Electronic Technology Co., Ltd.	Property Management	100% (Note 12)	100% (Note 12)
Dynamic Skyline Ltd.	Centralian Investments Limited	Investment	100%	100%
Dynamic Skyline Ltd	Will Grow Holdings Ltd.	Investment	100% (Note 6)	99.90% (Note 6)
Dynamic Skyline Ltd.	Total Rich Holdings Ltd.	Investment	100%	100%
Dynamic Skyline Ltd.	Up Ever Holdings Ltd.	Investment	100%	100%
Dynamic Skyline Ltd.	Global Brands Manufacture (Dongguan) Ltd.	Fabrication and sale of PCB	100% (Note 3)	100% (Note 3)
Dynamic Skyline Ltd.	Jingjia Electronics Technology (Wuhu) Co., Ltd.	Industrial plant lease	100%	100%
Centralian Investments Limited	Will Grow Holdings Ltd.	Investment	- (Note 6)	0.10% (Note 6)
Up Ever Holdings Ltd.	Dong Guang Yao Cheng Electronics Technology Co., Ltd.	Property management	100%	100%
Total Rich Holdings Ltd.	Dong Guang Jin Cheng Electronics Technology Co., Ltd.	Property management	100%	100%
Will Grow Holdings Ltd.	Kunshan Yuansong Electronics Technology CO., Ltd.	Fabrication and sale of PCB	100%	100%
Kunshan Yuansong Electronics Technology CO., Ltd.	Chongqing Shuohong Investment Co., Ltd.	Investment	12.83% (Note 2)	12.83% (Note 2)
Success Ocean Investments Ltd.	CMK Global Brands Manufacture Ltd.	Investment	86%	86%
Success Ocean Investments Ltd.	Always Up Investments Limited	Investment	100%	100%
Always Up Investments Limited	Dong Guan Xiangcheng Electronic Technology Co., Ltd.	Industrial plant lease and property management	100%	100%
CMK Global Brands Manufacture Ltd.	Dong Guang CMK Global Brands Manufacture Ltd.	Manufacturing and sale of PCB	100%	100%
Lincstech EPC Co., Ltd. (Note 13)	Lincstech Circuit Malaysia Sdn. Bhd. (Note 9)	Manufacturing and sale of PCB	98.63%	98.63%
Lincstech Co., Ltd.	Lincstech YGA Co., Ltd.	Manufacturing and sale of PCB	100% (Note 7)	-
Lincstech Co., Ltd.	Lincstech Circuit Singapore Pte. Ltd.	Manufacturing and sale of PCB	100% (Note 7)	-
Lincstech Co., Ltd.	Lincstech America Inc.	Sale of PCB	100% (Note 7)	-

Note 1: HannStar Board Investments (Hong Kong) Limited and GBM UP (HK) Ltd. hold $45\%$ of the total shares, but the company has substantial control over GHPW Enterprise Corporation (Hong Kong) Ltd., so it is listed as a subsidiary.
Note 2: HannStar Board Tech. (Jiangyin) Corp., Chuan Yi Computer (Shenzhen) Co., Ltd. and Kunshan Yuansong Electronics Technology CO., Ltd. jointly hold $51.30\%$ of the shares.
Note 3: In order to integrate resources, simplify investment structure and save management and

maintenance costs, the Company plans to merge Global Brands Manufacture (Dongguan) Ltd. ("GBM Dongguan") and Dong Guan Yujia Electronics Technology Co., Ltd. ("Yujia"). After the merger, GBM Dongguan will be the surviving company and Yujia will be extinguished. The merger was completed in 2024. Starting from the consolidation date, the surviving company shall assume all assets, liabilities, effective rights and obligations of the extinguished company.

Note 4: Chongqing Dunning Real Estate Co., Ltd. resolved in October of the year 2024 through a board resolution to reduce its capital by RMB 120,000 thousand in cash. After the reduction, the capital decreased from RMB 520,000 thousand to RMB 400,000 thousand.

Note 5: The board meeting of GBM ELECTRONICS (M) SDN.BHD has resolved to increase the company's capital by MYR 197,000 thousand in July, 2024. After capital increase, the company's capital increased from MYR 3,000 thousand to MYR 200,000 thousand.

Note 6: The Will Grow Holdings Limited's board has resolved to increase the capital in October, 2024. After capital increase, Dynamic Skyline Ltd. and Centralian Investments Ltd. holding percentage of Will Grow Holdings Limited were 99.90% and 0.10%, respectively. In September 2025, Centralian Investments Ltd. sold its entire equity interest in Will Grow Holdings Ltd. to Dynamic Skyline Ltd.

Note 7: In December 2024, Global Brands Manufacture Ltd's board of directors resolved to acquire Lincstech Co., Ltd. and its wholly-owned subsidiaries Lincstech YGA Co., Ltd., Lincstech Circuit Singapore Pte. Ltd. and Lincstech America Inc. in April 2025. The primary business activities of these entities are the manufacturing and sales of PCB. For detailed acquisition information, please refer to Note 31.

Note 8: The Group resolved at its board meeting in August 2025 to participate in Global Brands Manufacture Ltd.'s cash capital increase in the amount of NT$629,192 thousand. Since the Group did not subscribe according to its shareholding ratio, its equity stake decreased to 40.30% after the capital increase.

Note 9: The company was formerly known as ELNA Pcb (M) Sdn. Bhd. and was renamed to Lincstech Circuit Malaysia Sdn. Bhd. in October 2025.

Note 10: The board meeting of Up First Investments Ltd. has resolved to decrease the company's capital by USD 15,000 thousand in December, 2025. After capital decrease, the company's capital decreased from USD167,322 thousand to USD 152,322 thousand.

Note 11: The board meeting of Forever Line Ltd. has resolved to decrease the company's capital by USD 15,000 thousand in December, 2025. After capital decrease, the company's capital decreased from USD 20,000 thousand to USD 5,000 thousand.

Note 12: The board meeting of Kunshan Yuanmao Electronics Technology Co., Ltd. has resolved to decrease the company's capital by USD 15,000 thousand in December, 2025. After capital decrease, the company's capital decreased from USD 80,000 thousand to USD 65,000 thousand.

Note 13: The company was formerly known as ELNA Printed Circuits Co., Ltd. and was renamed to Lincstech EPC Co., Ltd. in January 2026.

Information of subsidiaries with significant non-controlling interests

36 -

Proportion of shares and voting rights held by non-controlling interests

Name of subsidiary	Main business places	December 31
		2025	2024
Global Brands	Taiwan	59.70%	59.32%
Manufacture Ltd.

Please refer to Table 4 for information about the main business place and the country where the company is registered.

The following consolidated financial information of Global Brands Manufacture Ltd. is based on the amount before intercompany transaction cancellation:

	December 31
	2025	2024
Current assets	$ 32,159,783	$ 21,414,366
Non-current assets	28,526,067	19,588,287
Current liabilities	( 25,380,206 )	( 12,749,729 )
Non-current liabilities	( 8,932,960 )	( 5,344,861 )
Equity	$ 26,372,684	$ 22,908,063
	For The Year Ended December 31
---	---	---
	2025	2024
Operating revenue	$ 33,712,142	$ 21,680,512
Profit from continuing operations	$ 3,152,789	$ 2,834,049
Net profit attributable to:
Owner of the company	$ 1,280,168	$ 1,156,826
Non-controlling interests of Global Brands	1,870,335	1,687,907
Non-controlling interests of subsidiaries of Global Brands	2,286	( 10,684)
Manufacture Ltd.	$ 3,152,789	$ 2,834,049

13. INVESTMENTS ACCOUNTED FOR USING EQUITY METHOD

Investments in associates	December 31
	2025	2024
Significant influence
Career Technology (MFG.) Co., Ltd.	$ 2,532,024	$ 2,591,974
INFO-TEK CORPORATION	1,011,761	971,694
No significant influence	765,290	768,329
	$ 4,309,075	$ 4,331,997

The above-mentioned associate was accounted for using the equity method.

(1) Significant affiliated enterprises

Name of Associate	Nature of activities	Principal Place of Business	Shareholding Ratio
			December 31
			2025	2024
Career Technology (MFG.) Co., Ltd	Manufacturing of electronic components	Shulin	27.73%	25.23%
INFO-TEK Corp.	Manufacturing of electronic components	Hsinchu	27.55%	27.55%

Fair values (Level 1) of investments in associates from available published price quotations were summarized as follows:

Name of Associate	December 31
	2025	2024
Career Technology (MFG.) Co., Ltd.	$ 2,646,233	$ 2,286,070
INFO-TEK Corp.	1,096,278	1,320,857
	$ 3,742,511	$ 3,606,927

The following summarized financial information in respect of the Career Technology (MFG.) Co., Ltd. represents amounts shown in the associates' financial statements prepared in accordance with IFRSs adjusted by the Group for equity accounting purposes.

Career Technology (MFG.) Co., Ltd

	December 31
	2025	2024
Current assets	$ 5,077,544	$ 5,535,122
Non-current assets	11,043,492	12,290,231
Current liabilities	( 3,338,275 )	( 3,654,673 )
Non-current liabilities	( 3,651,935 )	( 3,896,974 )
Equity	$ 9,130,826	$ 10,273,706
Proportion of the Group's ownership	27.73%	25.23%
Equity attributable to the Group (Carrying amount)	$ 2,532,024	$ 2,591,974
	For the Year Ended December 31
	2025	2024
Operating revenue	$ 5,411,320	$ 7,282,327
Profit from continuing operations	($ 2,765,197)	($ 2,602,981)
Other comprehensive income (loss)	1,032,384	( 55,272)
Total comprehensive income	($ 1,732,813)	($ 2,658,253)
Dividends received from Career Technology (MFG.) Co., Ltd.	$ -	$ -

In February 2025 and January 2024, the company participated in a cash capital increase of Career Technology (MFG.) Co., Ltd. contributing $371,130 thousand and $299,999 thousand, respectively. As a result, the shareholding percentage increased from 25.23% to 27.73% and from 24.04% to 25.23%, respectively. Due to the increase in the share of net

assets, capital surplus was adjusted by NT$43,966 thousand and NT$42,288 thousand, respectively.

The following summarized financial information in respect of the INFO-TEK Corp. represents amounts shown in the associates' financial statements prepared in accordance with IFRSs adjusted by the Group for equity accounting purposes.

INFO-TEK Corp.

	December 31
	2025	2024
Current assets	$ 7,086,528	$ 6,694,234
Non-current assets	1,784,117	1,450,638
Current liabilities	( 5,021,365 )	( 4,459,626 )
Non-current liabilities	( 170,738 )	( 143,298 )
Equity	$ 3,678,542	$ 3,541,948
Proportion of the Group’s ownership	27.55%	27.55%
Equity attributable to the Group (Carrying amount)	$ 1,011,761	$ 971,694
	For the Year Ended December 31
	2025	2024
Operating revenue	$ 7,288,815	$ 7,326,013
Profit from continuing operations	$ 288,665	$ 393,545
Other comprehensive income (loss)	4,905	50,576
Total comprehensive income	$ 293,570	$ 444,121
Dividends received from INFO-TEK Corp.	$ 43,252	$ 59,888

(2) Aggregate information of associates that are not individually material

	For the Year Ended December 31
	2025	2024
The Group’s share of:
Profit (loss) from continuing operations	$ 20,509	($ 19,444)
Other comprehensive income (loss)	( 23,548 )	( 2,599 )
Total comprehensive income (loss)	($ 3,039 )	($ 22,043 )

(3) The profit and loss and other comprehensive income and loss shares of affiliated companies adopting the equity method in 2025 and 2024 are recognized by the accountant verification results of the affiliated companies during the same period.

14. PROPERTY, PLANT AND EQUIPMENT

	Land	Buildings	Machinery and equipment	Other equipment	Construction in progress	Total
Cost
Balance at January 1, 2025	$ 393,498	$ 11,060,473	$ 24,401,769	$ 4,798,845	$ 3,495,022	$ 44,149,607
Additions	-	78,594	482,509	37,004	2,962,827	3,560,934
Disposals	-	( 178,072 )	( 916,564 )	( 82,840 )	-	( 1,177,476 )
Acquired through a corporate merger	267,152	3,739,427	9,045,412	555,077	335,519	13,942,587
Reclassified	-	876,639	3,549,176	108,020	( 4,060,873 )	472,962
Effects of foreign currency exchange differences	( 20,155 )	( 372,388 )	( 874,599 )	( 68,152 )	( 28,652 )	( 1,363,946 )
Balance at December 31, 2025	$ 640,495	$ 15,204,673	$ 35,687,703	$ 5,347,954	$ 2,703,843	$ 59,584,668
Accumulated depreciation and impairment
Balance at January 1, 2025	$ 5,604	$ 7,347,004	$ 19,290,254	$ 4,142,355	$ -	$ 30,785,217
Disposals	-	( 178,039 )	( 861,945 )	( 81,689 )	-	( 1,121,673 )
Depreciation expenses	-	593,643	1,937,785	239,303	-	2,770,731
Acquired through a corporate merger	132,588	1,957,847	6,623,302	433,901	-	9,147,638
Reclassified	-	( 1,882 )	16,406	-	-	14,524
Effects of foreign currency exchange differences	( 16,429 )	( 319,315 )	( 764,984 )	( 61,477 )	-	( 1,162,205 )
Balance at December 31, 2025	$ 121,763	$ 9,399,258	$ 26,240,818	$ 4,672,393	$ -	$ 40,434,232
Carrying amount at December 31, 2025	$ 518,732	$ 5,805,415	$ 9,446,885	$ 675,561	$ 2,703,843	$ 19,150,436
Cost
Balance at January 1, 2024	$ 395,697	$ 10,390,810	$ 23,093,787	$ 4,555,375	$ 594,399	$ 39,030,068
Additions	-	52,112	258,375	55,981	3,625,532	3,992,000
Disposals	-	( 216,424 )	( 1,150,146 )	( 73,981 )	-	( 1,440,551 )
Reclassified	-	347,057	1,195,916	67,949	( 900,980 )	709,942
Effects of foreign currency exchange differences	( 2,199 )	486,918	1,003,837	193,521	176,071	1,858,148
Balance at December 31, 2024	$ 393,498	$ 11,060,473	$ 24,401,769	$ 4,798,845	$ 3,495,022	$ 44,149,607
Accumulated depreciation and impairment
Balance at January 1, 2024	$ 5,604	$ 6,590,740	$ 18,287,628	$ 3,834,509	$ -	$ 28,718,481
Disposals	-	( 215,568 )	( 1,138,090 )	( 72,511 )	-	( 1,426,169 )
Depreciation expenses	-	547,873	1,353,190	215,035	-	2,116,098
Reclassified	-	147,126	( 2,407 )	1,859	-	146,578
Effects of foreign currency exchange differences	-	276,833	789,933	163,463	-	1,230,229
Balance at December 31, 2024	$ 5,604	$ 7,347,004	$ 19,290,254	$ 4,142,355	$ -	$ 30,785,217
Carrying amount at December 31, 2024	$ 387,894	$ 3,713,469	$ 5,111,515	$ 656,490	$ 3,495,022	$ 13,364,390

When the Group obtains the subsidy provided by the Chinese government, in accordance with the provisions of the standards, deduct the book value of the relevant machinery and equipment calculated by the subsidy, and reduce the depreciation expense to recognize the profit and loss.

The above items of property, plant and equipment used by the Group are depreciated on a straight-line basis over their estimated useful lives as follows:

Buildings
Factory main buildings 5~50 years
Electromechanical power equipment 3~10 years
Engineering systems 3~10 years
Others 1~20 years
Machinery 1~19 years
Other equipment 1~10 years

15. LEASE AGREEMENT

(1) Right-of-use assets

	December 31
	2025	2024
Amount of right-of-use assets
Land	$ 1,140,352	$ 897,552
Buildings	678,834	637,825
Machinery and equipment	1,593	118
Other equipment	30,546	30,753
	$ 1,851,325	$ 1,566,248
	For the Year Ended December 31
	2025	2024
Increase in right-of-use assets (Note 34)	$ 258,611	$ 280,874
Acquired through a corporate merger (Note 31)	$ 333,842	$ -
Depreciation charge for right-of-use assets
Land	$ 36,824	$ 28,526
Buildings	230,943	204,927
Machinery and equipment	604	2,308
Other equipment	16,377	14,306
	$ 284,748	$ 250,067

The Group leases land use rights in China to build its factories. Part of the land use rights and factory buildings are subleased to others in the form of business leases. Relevant buildings and right-of-use assets are classified as investment properties, please refer to Note 16 for details. The amount of the right-of-use assets does not include those right-of-use assets that meet the definition of investment properties.

(2) Lease liability

	December 31
	2025	2024
Lease liability book value
Current	$ 318,650	$ 215,842
Non-current	$ 738,289	$ 463,746

The discount rate ranges for lease liabilities was as follows:

42 -

	December 31
	2025	2024
Land	1.85%~6.23%	4.50%
Buildings	1.79%~4.50%	0.98%~4.50%
Machinery and equipment	1.79%~4.35%	4.32%~4.35%
Other equipment	2.06%~4.50%	0.98%~4.50%

(3) Important leasing activities and terms

The Group leases a number of land and buildings as factory buildings for 2~60 years.

(4) Other lease information

	For the Year Ended December 31
	2025	2024
Expenses relating to short-term and low-value asset leases	$ 110,094	$ 58,068
Total cash outflow of leases	($ 376,604)	($ 274,000)

Some office equipment or computer leases of the Group are qualified as short-term leases or low-value assets leases, the Group has elected to apply the recognition exemption and thus, did not recognize right-of-use assets and lease liabilities for these leases.

16. INVESTMENT PROPERTIES

	December 31
	2025	2024
Measured at cost
Completed investment properties	$ 600,645	$ 552,762
Right-of-use assets	39,508	40,427
	$ 640,153	$ 593,189
	Completed investment properties	Right-of-use assets
---	---	---
Cost
Balance at January 1, 2025	$ 962,965	$ 42,745
From Inventory	76,783	-
Effects of foreign currency exchange differences	445	42
Balance at December 31, 2025	$ 1,040,193	$ 42,787
Accumulated depreciation and impairment
Balance at January 1, 2025	$ 410,203	$ 2,318
Depreciation expenses	28,353	928
Effects of foreign currency exchange differences	992	33
Balance at December 31, 2025	$ 439,548	$ 3,279

	Completed investment properties	Right-of-use assets	Total
Carrying amounts at December 31, 2025	$ 600,645	$ 39,508	$ 640,153
Cost
Balance at January 1, 2024	$ 945,463	$ 41,090	$ 986,553
Effects of foreign currency exchange differences	17,502	1,655	19,157
Balance at December 31, 2024	$ 962,965	$ 42,745	$ 1,005,710
Accumulated depreciation and impairment
Balance at January 1, 2024	$ 377,444	$ 1,307	$ 378,751
Depreciation expenses	28,371	952	29,323
Effects of foreign currency exchange differences	4,388	59	4,447
Balance at December 31, 2024	$ 410,203	$ 2,318	$ 412,521
Carrying amounts at December 31, 2024	$ 552,762	$ 40,427	$ 593,189

The investment properties are depreciated using the straight-line method over their estimated useful lives as follows:

Main buildings 8 ~ 50 years

Elevator equipment 5 ~ 9 years

Air conditioning system 5 ~ 9 years

Right-of-use assets 50 years

Others 2 ~ 6 years

The company's investment real estate has a book value of the investment real estate is NTD 7,484 thousand as of December 31, 2025 and 2024. The investment real estate is the land located in Pingzhen District, Taoyuan City because. The amount is not material.

The fair values of the Global Brands Manufacture Ltd. investment properties were based on appraisal reports conducted by an independent appraiser and management using valuation models commonly adopted by market participants. The fair value is conducted either by professional appraisers or based on market evidence from similar real estate transaction prices referenced by management. The fair value of the right-of-use asset is assessed by netting the expected rental income against all expected payments, plus the associated lease liability recognized. The fair values were as follows:

	December 31
	2025	2024
Fair value	$ 2,766,776	$ 2,732,261

The fair value of the completed investment properties of Chongqing Dunning Real Estate Co., Ltd. was determined by an independent valuation firm and management using valuation models commonly adopted by market participants. Such valuation was performed by professional appraisers or by management with reference to market evidence of transaction prices for comparable properties. The fair values are as follows:

	December 31
	2025	2024
Fair value	$ 140,860	$ -

17. GOODWILL

	December 31
	2025	2024
Cost
Balance at January 1	$ 1,097,651	$ 1,070,939
Acquisitions through business combinations (Note 31)	1,868,035	-
Effects of foreign currency exchange differences	( 79,049 )	26,712
Balance at December 31	$ 2,886,637	$ 1,097,651
Accumulated impairment
Balance at January 1	$ 390,612	$ 371,079
Effects of foreign currency exchange differences	( 12,725 )	19,533
Balance at December 31	$ 377,887	$ 390,612
Carrying amount at December 31	$ 2,508,750	$ 707,039

18. INTANGIBLE ASSETS

	Computer Software Cost	Emission License	Customer Relationships	Proprietary Technology	Others	Total
Cost
Balance at January 1, 2025	$ 86,669	$ 209	$ -	$ -	$ -	$ 86,878
Additions	20,444	-	-	-	-	20,444
Acquisitions through business combinations (Note 31)	126,761	-	1,094,423	550,060	816	1,772,060
Disposals	( 45,857 )	( 202 )	-	-	-	( 46,059 )
Effect of foreign currency exchange differences	( 15,952 )	( 7 )	( 15,904 )	( 17,608 )	( 101 )	( 49,572 )
Balance at December 31, 2025	$ 172,065	$ -	$1,078,519	$ 532,452	$ 715	$1,783,751
Accumulated depreciation and impairment
Balance at January 1, 2025	$ 62,496	$ 188	$ -	$ -	$ -	$ 62,684
Amortization expense	19,109	20	81,106	48,754	30	149,019
Acquisitions through business combinations (Note 31)	89,904	-	45,161	50,000	442	185,507
Disposals	( 45,857 )	( 202 )	-	-	-	( 46,059 )
Effect of foreign currency exchange differences	( 8,861 )	( 6 )	( 5,890 )	( 6,521 )	( 55 )	( 21,333 )
Balance at December 31, 2025	$ 116,791	$ -	$ 120,377	$ 92,233	$ 417	$ 329,818

Intangible assets are amortized on a straight-line basis over their estimated useful lives as follows:

	Computer Software Cost	Emission License	Customer Relationships	Proprietary Technology	Others	Total
Carrying amounts at December 31, 2025	$ 55,274	$ -	$ 958,142	$ 440,219	$ 298	$1,453,933
Cost
Balance at January 1, 2024	$ 74,482	$ 4,782	$ -	$ -	$ -	$ 79,264
Additions	16,456	-	-	-	-	16,456
Disposals	( 7,395 )	( 4,791 )	-	-	-	( 12,186 )
Effect of foreign currency exchange differences	3,126	218	-	-	-	3,344
Balance at December 31, 2024	$ 86,669	$ 209	$ -	$ -	$ -	$ 86,878
Accumulated depreciation and impairment
Balance at January 1, 2024	$ 55,349	$ 4,742	$ -	$ -	$ -	$ 60,091
Amortization expense	12,090	20	-	-	-	12,110
Disposals	( 7,395 )	( 4,791 )	-	-	-	( 12,186 )
Effect of foreign currency exchange differences	2,452	217	-	-	-	2,669
Balance at December 31, 2024	$ 62,496	$ 188	$ -	$ -	$ -	$ 62,684
Carrying amounts at December 31, 2024	$ 24,173	$ 21	$ -	$ -	$ -	$ 24,194

Computer software costs 1~10 years
Emission license 5 years
Customer relationships 10 years
Proprietary technology 10 years
Others 7~10 years

OTHER ASSETS

	December 31
	2025	2024
Current
Prepayments	$ 579,359	$ 288,589
Others	30,184	13,175
	$ 609,543	$ 301,764
Non-current
Refundable deposit (Note 34)	$ 104,184	$ 85,792
Prepayments for equipment	416,850	302,006
Past due receivables	3,753	3,753
Allowance for uncollectible accounts – past due receivables	( 3,753 )	( 3,753 )
Defined benefit assets	72,097	80,278
Others	5,842	1,512
	$ 598,973	$ 469,588

20. BORROWINGS

(1) Short-term borrowings

	December 31
	2025	2024
Short-term credit borrowings	$ 23,596,728	$ 17,174,806

The market interest rate interval of above-mentioned short-term borrowings at the balance sheet date was as follows:

	December 31
	2025	2024
Interest rate	0.80%~3.40%	0.61%~2.80%

(2) Long-term borrowings

	December 31
	2025	2024
Secured borrowings
Bank loans	$ 253,363	$ 167,729
Less: Current portion	( 27,384 )	( 13,511 )
	225,979	154,218
Unsecured borrowings
Bank loans	11,631,280	8,489,628
Less: Current portion	( 76,923 )	( 664,628 )
Less: Administration fee of syndicated loans	( 5,666 )	( 7,667 )
	$ 11,774,670	$ 7,971,551

A. Bank loans

Bank loans	Due Date	Material terms	rate%	December 31, 2025	December 31, 2024
Floating rate borrowing
E. Sun Commercial Bank
Syndicated loans 3(1)	2029.03.25	On the expiry date of 48 months from the first use date, the first installment will be repaid, and thereafter every 6 months will be 1 installment, 3 installments in total. The payment is amortized, 15% for each of the first to second installments, and 70% for the third installment. Repaid upon maturity.	2.093	3,525,000	2,375,000
			2,0887
E. Sun Commercial Bank
Syndicated loans 3(2)	2029.04.26	On the expiry date of 48 months from the first use date, the first installment will be repaid, and thereafter every 6 months will be 1 installment, 3 installments in total. The payment is amortized, 15% for each of the first to second installments, and 70% for the third installment. Repaid upon maturity.	2.08	3,000,000	3,450,000
			2.08
Taipei Fubon Commercial Bank
Unsecured borrowings	2029.12.20	On the expiry date of 2 years from the first use date, the first installment will be repaid, and thereafter every 3 months will be 1 installment.	1.56	$ 1,000,000	$ 1,000,000
			1.56
Taiwan Cooperative Bank

46 -

Bank loans	Due Date	Material terms	rate%	December 31, 2025	December 31, 2024
Unsecured borrowings	2028.09.28	From the fifth year, repayment is divided into 12 periods with the monthly principal and interest equally amortized.	2.018	1,000,000	1,000,000
Fubon Bank (China)
Syndicated loans 3(3)	2027.08.27	Repay 5% of the remaining balance on the 6th, 12th, 18th, 24th, and 30th months after the first use date, with the remaining principal repaid at maturity.	2.08	253,363	167,729
Bank of Taiwan
Unsecured borrowings	2028.04.01	On the expiry date of 2 years from the first use date, the first installment will be repaid, and thereafter every 3 months will be 1 installment.	1.97	1,500,000	-
Far Eastern International Bank
Unsecured borrowings	2028.03.27	On the expiry date of 2 years from the first use date, the first installment will be repaid, and thereafter every 6 months will be 1 installment. Part of the loan has been repaid early.	2.04	1,285,000	-
E. Sun Commercial Bank
Unsecured borrowings	2028.09.05	Repaid upon maturity.	1.46	200,800	-
E. Sun Commercial Bank
Unsecured borrowings	2028.03.17	Repaid upon maturity.	1.59	120,480	-
E. Sun Commercial Bank
Unsecured borrowings	2025.03.18	Repaid upon maturity.	1.26	-	125,940
China Everbright Bank
Unsecured borrowings	2025.10.24	Repaid upon maturity.	2.40	-	538,688
				$ 11,884,643	$ 8,657,357

B. Regarding the above-mentioned portion of long-term borrowings, their amount, classification, and collateral status are as follows :

a. The Group has signed a syndicated loans agreement of NTD 5 billion with 8 banks including E. Sun Commercial Bank on March 6, 2024. According to the terms of the agreement, the Group shall complete the first drawdown within 6 months from the date of signing. The Group applied for its first drawdown on March 26, 2024.

b. The Group has signed a syndicated loans agreement of NTD 4.2 billion with 10 banks including E. Sun Commercial Bank on April 12, 2024. According to the term of the agreement, the Company had completed the first drawdown within 6 months from the date of signing.

c. The borrow was jointly guaranteed by the related party Chongqing Songjia Property Co., Ltd which also provides property and building as collateral. Please refer to Note 34.

C. The above long-term borrowings are stipulated in the bank loan contracts as follows:

a. According to the loan agreements, the company shall maintain certain required financial ratios in its annual consolidated financial statements during the loan period.

b. In addition to the general covenants, the syndicated loan agreements entered into between Global Brands Manufacture Ltd. and E. Sun Commercial Bank, as well as the loan agreements with Far Eastern International Bank, require Global Brands Manufacture Ltd. to maintain certain required financial ratios in its annual consolidated financial statements during the loan period.

c. According to the loan agreements, HannStar Board Tech. (Jiangyin) Corp. shall maintain certain required financial ratios in its annual financial statements during the loan period.

OTHER LIABILITIES

	December 31
	2025	2024
Current
Other payables
Payables for salaries	$ 1,686,854	$ 1,369,567
Payables for annual leave	99,449	71,611
Payable for expenses	2,049,567	1,539,441
Payable for purchase of equipment	1,315,682	1,046,243
Others	699,796	691,675
	$ 5,851,348	$ 4,718,537
Other payables - related parties (Note 34)
Payable for purchase of equipment	$ 40,320	$ -
Others	12,422	6,377
	$ 52,742	$ 6,377
Other liabilities
Provision for warranty	$ 979,409	$ 811,750
Temporary receipts and receipts under custody	46,147	31,559
Others (Note 33)	159,452	196,853
	$ 1,185,008	$ 1,040,162
Non-current
Other liabilities
Guarantee deposits received	$ 330,374	$ 282,870
Accrued pension liabilities	406,896	125,853
Restoration obligation	278,171	-
Others	6,253	6,253
	$ 1,021,694	$ 414,976

PROVISION FOR LIABILITIES

	December 31
	2025	2024
Current
Warranty (accounted under other current liabilities)	$ 979,409	$ 811,750
Payables for annual leave (accounted under other payables)	99,449	71,611
	$ 1,078,858	$ 883,361
Non-Current
Restoration obligation (accounted under other non-current liabilities)	$ 278,171	$ -

The provision for warranty liabilities is the present value of the best estimate of the outflow of future economic benefits caused by the warranty obligation from the management of the Group in

accordance with the contract for the sale of goods. This estimate is based on historical warranty experience and takes into account the adjustment of new raw materials, process changes or other factors affecting product quality.

The provision for employee benefit liabilities includes the assessment of the employee's entitlement to service leave.

Pursuant to the lease agreement, the Group shall, at the end of the respective lease terms, restore the leased plant assets to their original condition at the time of the lease. Provisions are recognized based on the present value of the best estimate of future outflow of economic benefits that will be required by the fulfillment of the restoration obligation stated on the lease contract. The estimate will be reviewed regularly to adjust according to the use of the plant.

23. RETIREMENT BENEFIT PLANS

(1) Defined contribution plan

The Company and it's subsidiaries in Taiwan have adopted a pension plan under the Labor Pension Act (LPA), which is a state-managed defined contribution plan. Under the LPA, the Company makes monthly contributions to employees' individual pension accounts at 6% of monthly salaries and wages.

The employees of the Group's subsidiary in China are members of a state-managed retirement benefit plan operated by the government of China. The subsidiary is required to contribute at 8% to 14% of the salary costs to the retirement benefit scheme to fund the benefits. The employees of the Group's subsidiary in Malaysia are members of a state-managed retirement benefit plan operated by the government of Malaysia. The subsidiary is required to contribute a specified percentage of payroll costs to the retirement benefit scheme to fund the benefits. The only obligation of the Group with respect to the retirement benefit plan is to make the specified contributions.

(2) Defined benefit plans

The defined benefit plans adopted by the Company are in accordance with the Labor Standards Act. Pension benefits are calculated on the basis of the length of service and average monthly salaries of the 6 months before retirement. The Company contributes amounts equal to 2.58% of total monthly salaries and wages to a pension fund administered by the pension fund monitoring committee. Pension contributions are deposited in the Bank of Taiwan in the committee's name. Before the end of each year, the Company assesses the balance in the pension fund. If the amount of the balance in the pension fund is inadequate to pay retirement benefits for employees who will conform to retirement requirements in the following year, the Company is required to fund deficient amount before the end of March of the next year. The pension fund is managed by the Bureau of Labor Funds, Ministry of Labor (the "Bureau"), the Company has no right to influence the investment policy and strategy.

The Group's subsidiary in Japan has both defined contribution plans and defined benefit plans.

The expected return on the overall assets of the planned assets is an estimate based on the historical return trend and the actuary's prediction of the market in which the asset is located during the duration of the relevant obligations, and considering the use of the aforementioned planned assets and the impact of the lowest return.

49 -

50 -

24. EQUITY

(1) Ordinary shares

	December 31
	2025	2024
Authorized shares (in thousands)	700,000	700,000
Amount capital	$ 7,000,000	$ 7,000,000
Issued and paid shares (in thousands)	486,166	486,166
Issued capital	$ 4,861,660	$ 4,861,660

A holder of issued common shares with par value of NT$10 per share is entitled to vote and to receive dividends.

The Company approved in the shareholders' meeting on June 18, 2024, The Company's share capital was reduced by $422,753 thousand, and The Company's shares were eliminated by 42,275 thousand shares. The ratio of capital reduction was 8%, and paid-in capital after reduction was $4,861,660 thousand, the reduction of capital was approved by Taiwan Stock Exchange on July 16, 2024, the capital reduction record date and the capital reduction stock exchange date are August 7, 2024, and October 18, 2024, the payable for reduction of capital $422,753 thousand, after deducting the treasury stock reduction $2,400 thousand, the net $420,353 thousand, was refunded on October 25, 2024.

(2) Capital surplus

	December 31
	2025	2024
May be used to offset a deficit, distributed as cash dividends or transferred to share capital(A)
Additional paid-in capital	$ 3,974,222	$ 3,974,222
From changes in associates' equity	86,254	42,288
Treasury share transactions	119,413	20,004
Others	889	889
May only be used to offset a deficit
From share of changes in equity of subsidiaries(B)	299,154	176,669
Redemption of convertible bonds	76,918	76,918
	$ 4,556,850	$ 4,290,990

A. Such capital surplus may be used to offset a deficit; in addition, when The Company has no deficit, such capital surplus may be distributed as cash dividends or transferred to share capital (limited to a certain percentage of The Company's capital surplus and to once a year).

B. Such capital surplus arises from the effects of changes in ownership interests in subsidiaries resulting from equity transactions other than actual disposals or acquisitions or from changes in capital surplus of subsidiaries accounted for using the equity method.

(3) Retained earnings and dividends policy

Based on The Company's Articles of Incorporation, where The Company made a profit in a fiscal year, the profit shall be first utilized for paying taxes, offsetting losses of previous years, setting aside as legal reserve 10% of the remaining profit, setting aside or reversing a special reserve in accordance with the laws and regulations, and then any remaining profit together with any undistributed retained earnings shall be used by The Company's Board of Directors as the basis

for proposing a distribution plan, which should be resolved in the shareholders' meeting for the distribution of dividends to shareholders.

The Company's Articles of Incorporation provide the distribution of employees' compensation and directors' remuneration; please refer to Note 28 for more information.

An appropriation of earnings to a legal reserve shall be made until the legal reserve equals The Company's paid-in capital. The legal reserve may be used to offset any deficits. If The Company has no deficit and the legal reserve has exceeded $25\%$ of The Company's paid-in capital, the excess may be transferred to capital or distributed in cash.

The appropriations of 2024 and 2023 earnings were approved in the shareholders' meetings on June 18, 2025 and June 18, 2024, respectively, were as follows:

	Appropriation of Earnings
	For The Year Ended December 31
	2024	2023
Legal reserve	$ 302,213	$ 268,221
Cash dividends	$ 1,215,415	$ 845,506
Cash dividends per share (NT$)	2.50	1.60

(4) Other equity items

A. Exchange differences on translating the financial statements of foreign operations

	For the Year Ended December 31
	2025	2024
Balance at January 1	$ 107,880	($ 1,533,453)
Exchange differences on translation of financial statements of foreign operations	(577,632)	1,613,500
Share of exchange difference of associated enterprises accounted for using equity method	(5,312)	27,833
Balance at December 31	($ 475,064)	$ 107,880

B. Unrealized valuation gain(loss) on financial assets at FVTOCI

	For the Year Ended December 31
	2025	2024
Balance at January 1	$ 3,042,475	$ 4,748,025
Unrealized profit and loss of financial assets	2,300,943	(1,669,685)
Share of other comprehensive income and loss of associated enterprises accounted for using equity method	242,341	(42,830)
Reclassification of accumulated gains and losses on disposal of equity instruments to retained earnings	(68,657)	6,965
Balance at December 31	$ 5,517,102	$ 3,042,475

(5) Non-controlling interests

	For the Year Ended December 31
	2025	2024
Balance at January 1	$ 15,219,266	$ 13,876,296
Net profit	1,801,951	1,553,627
Other comprehensive income or loss
Exchange differences on translation of financial statements of foreign operations	( 495,490 )	923,527
Unrealized profit and loss of financial assets at FVTOCI	322,448	( 370,098 )
Share of other comprehensive income and loss of associated enterprises accounted for using equity method	( 6,968 )	8,746
Adjustments relating to changes in retained earnings of associated enterprises accounted for using the equity method	50,376	68,456
Subsidiaries purchase treasury shares	( 245,147 )	( 16,372 )
Subsidiaries transfer treasury shares to employees	256,435	142,639
Cash dividend of subsidiaries	( 842,514 )	( 967,555 )
Cash capital increase of subsidiaries	1,243,058	-
Balance at December 31	$ 17,303,415	$ 15,219,266

(6) Treasury shares

The details of The Company's treasury stock changes for the year ended December 31, 2025, are as follows:

Purpose	Balance at January 1	Increase	Decrease	Balance at December 31
Shares Transferred to employees	2,760	4,000	( 6,533 )	227

The details of The Company's treasury stock changes for the year ended December 31, 2024, are as follows:

Purpose	Balance at January 1	Increase	Decrease	Balance at December 31
Shares Transferred to employees	-	3,000	( 240 )	2,760

In May and September 2025, The Company's Board of Directors resolved to transfer 4,000 thousand treasury shares for employee subscription. As of December 31, 2025, 4,000 thousand shares have been repurchased; the cost of the treasury shares was NT$ 273,005 thousand.

The Company's Board of Directors resolved in August, September, and December 2025 to transfer 6,533 thousand treasury shares for employee subscription. As of December 31, 2025, 6,533 thousand shares have been transferred for employee subscription. The Company, in accordance with regulations, estimated the fair value using the option pricing model on the grant date and recognized compensation costs (booked as salary expense) of NT$ 100,691 thousand, and recognized capital surplus – treasury stock transactions of NT$ 99,409 thousand upon the transfer.

In March 2024, The Company's Board of Directors resolved to transfer 3,000 thousand treasury shares for employee subscription. The cost of the treasury shares was NT$ 184,434 thousand. In June 2024, The Company resolved at the shareholders' meeting to conduct a cash capital reduction, reduce 240 thousand treasury shares with a carrying amount of NT$ 2,400 thousand. After the capital reduction, the number of treasury shares outstanding was 2,760 thousand shares.

According to the Stock Exchange Law, the shares of treasury stock should not exceed 10% of The Company's issued and outstanding shares and the total amount of treasury stock should not exceed the total retained earnings and realized additional paid-in capital.

In addition, according to the Stock Exchange Law, the treasury stock should not be pledged and does not have the same right as the common stock to receive dividends and to vote.

25. OPERATING REVENUE

(1) Revenue from contracts with customers

	For the Year Ended December 31
	2025	2024
Sales of PCB	$ 56,916,045	$ 41,451,425
Sales of real estate	45,251	36,676
Others	264,907	143,931
	$ 57,226,203	$ 41,632,032

(2) Contract balance

	December 31
	2025	2024
Contract liabilities-current
Advance payment for real estate sales
Land and Buildings held for sale	$ -	$ 15,781

(3) As of December 31, 2024, the aggregate amount of the transaction price allocated to the unsatisfied performance obligations under real estate sales contracts entered into by the Group was NT$26,366 thousand, which was recognized as revenue from the sale of real estate upon satisfaction of the performance obligations in 2025.

26. NET PROFIT FROM CONTINUING OPERATIONS

(1) Interest income

	For the Year Ended December 31
	2025	2024
Deposits in banks	$ 867,525	$ 1,120,441
Others	605,793	414,790
	$ 1,473,318	$ 1,535,231

(2) Other income

	For the Year Ended December 31
	2025	2024
Rental income	$ 38,909	$ 65,949
Dividend income (Note 34)	203,026	138,642
Others (Note 34)	602,748	180,724
	$ 844,683	$ 385,315

(3) Other gains and losses

	For the Year Ended December 31
	2025	2024
Gain (Loss) on disposal of real estate, plant and equipment (Note 15)	($ 9,391)	$ 18,496
Loss on disposal of non-current assets held for sale (Note 37)	-	(360,340)
Gain on financial instruments at FVTPL (Note 7)	164,917	74,425
Foreign exchange gain (loss) (Note 38)	(170,721)	692,232
(Loss) gain on disposal of investments	(4,660)	910
Others	(51,036)	(12,890)
	($ 70,891)	$ 412,833

(4) Financial cost

	For the Year Ended December 31
	2025	2024
Bank loan interest	$ 695,175	$ 450,887
Interest on lease liabilities	37,048	30,725
Others	2,200	3,772
	$ 734,423	$ 485,384

Capitalization of interest information were as follows

	For the Year Ended December 31
	2025	2024
Capitalized interest amount	$ 1,560	$ 1,106
Capitalized interest rate	2.80%	2.80%

(5) Depreciation and amortization

	For the Year Ended December 31
	2025	2024
Depreciation expense by function
Operating cost	$ 2,744,103	$ 2,104,351
Operating expense	340,657	291,137
	$ 3,084,760	$ 2,395,488

	For the Year Ended December 31
	2025	2024
Amortized expense by function
Operating cost	$ 3,588	$ 7,330
Operating expense	145,431	4,780
	$ 149,019	$ 12,110

27. EMPLOYEE BENEFIT EXPENSES

	For the Year Ended December 31
	2025	2024
Short-term employee benefits	$ 11,260,626	$ 7,844,102
Retirement Benefits
Defined contribution plan	638,579	542,635
Defined benefit plan (Note 23)	25,873	3,653
Termination benefits	1,012	245
	$ 11,926,090	$ 8,390,635
Summary by function
Operating cost	$ 9,180,287	$ 6,477,744
Operating expense	2,745,803	1,912,891
	$ 11,926,090	$ 8,390,635

28. REMUNERATION OF EMPLOYEES AND DIRECTORS

In case of any profit of The Company in the year, 2% to 10% of the profit before tax and before deducting the distributed employee and director's remuneration in the current year shall be taken as the employee's remuneration; in addition, not more than 2% shall be taken as the director's remuneration. However, if The Company still has accumulated losses, it shall reserve the amount of compensation in advance. The remuneration of the employees shall be distributed in shares or cash by the resolution of Board of Directors. The Board of Directors, and may include The Company employees who meet requirements.

The Company's estimated employee remuneration and director's compensation for 2025 amounted to NTD 119,534 thousand and NTD 46,485 thousand respectively, representing 3.60% and 1.40% of profit before tax respectively. If there are any changes to the amounts after the annual consolidated financial statements are authorized for issue, the differences are recorded as a change in the accounting estimate and adjusted in the following year.

The Company's Board of Directors held on Feb 19, 2025 and Feb 22, 2024 respectively resolved and approved the following remuneration for employees and directors for the year ended 2024 and 2023, all in cash:

	For the Year Ended December 31
	2024		2023
	Employee remuneration	Remuneration of directors	Employee remuneration	Remuneration of directors
Amount of distribution by resolution of Board of Directors the Board of Directors	$ 98,336	$ 48,305	$ 87,032	$ 42,753
Amount recognized in each annual financial report	$ 98,336	$ 48,305	$ 87,572	$ 42,753

There is no difference between the actual amounts of employees' compensation and remuneration of directors paid and the amounts recognized in the consolidated financial statements for the years ended December 31, 2024.

Information on the employees' compensation and remuneration of directors resolved by The Company's Board of Directors is available at the Market Observation Post System website of the Taiwan Stock Exchange.

29. INCOME TAX RELATING TO CONTINUING OPERATIONS

(1) Details of income tax recognized in profit or loss are as follows:

	For the Year Ended December 31
	2025	2024
Current income tax expense
Current tax expense recognized in the current year	$ 2,203,595	$ 1,848,908
Income tax on unappropriated earnings	131,920	142,318
Income tax adjustment of previous year	( 33,790 )	7,928
Subsidiary earnings repatriation	-	927,325
	2,301,725	2,926,479
Deferred income tax
Current tax expense recognized in the current year	( 82,411 )	( 83,332 )
Income tax expense recognized in profit or loss	$ 2,219,314	$ 2,843,147

The adjustment of accounting income and current income tax expense is as follows:

	For the Year Ended December 31
	2025	2024
Profit before income tax from continuing operations	$ 6,944,700	$ 7,408,997
Income tax expense on statutory tax rate	$ 2,884,301	$ 2,834,043
Tax effects of adjusting items
Share of profit of associates accounted for using equity method	( 996,892 )	( 996,892 )
Others	132,688	32,932
Income tax on unappropriated earnings	131,920	142,318
Income tax adjustment of previous year	( 33,790 )	7,928
Subsidiary earnings repatriation	-	927,325
Others	99,754	( 104,507 )
Income tax expense recognized in profit or loss	$ 2,219,314	$ 2,843,147

The income tax rate to the ROC Income Tax Act of the consolidated company is 20%.

56 -

The income tax rate of China subsidiaries is 25%; as for other area, the income tax rate applied would follow respective local regulation.

Substantive legislation regarding the Pillar Two income tax regulations has been enacted in certain jurisdictions where The Company's subsidiaries are registered, effective sequentially from January 1, 2025. Under these regulations, The Company's subsidiaries are required to pay a top-up tax in their respective jurisdictions on profits where the effective tax rate is below 15%. As of December 31, 2025, the Pillar Two income tax regulations in the jurisdictions have not had a material impact on the consolidated financial statements. However, the Group continues to monitor and assess the potential impact of Pillar Two legislation on its future financial performance.

(2) Current income tax liabilities

	December 31
	2025	2024
Current income tax liabilities	$ 1,122,348	$ 1,138,464

(3) Deferred income tax assets and liabilities For the year ended December 31, 2025

	Opening balance	Acquired in a business combination	Recognized in profit or loss	Exchange rate movements	Closing Balance
Deferred tax assets
Temporary difference
Unrealized inventory write-off	$ 13,000	$ -	$ 12,600	$ -	$ 25,600
Unrealized sales discount	92,610	5,518	13,572	(480)	111,220
Tax loss carryforward	8,398	146,691	(16,454)	(17,933)	120,702
Other unrealized expenses and losses	128,910	2,750	39,349	11,496	182,505
	$ 242,918	$ 154,959	$ 49,067	($ 6,917)	$ 440,027
Deferred tax liabilities
Temporary difference
Unrealized land value added tax	$ 62,395	$ -	$ -	($ 272)	$ 62,123
Share of profit of subsidiaries accounted for using equity method	654,837	-	15,327	(13,473)	656,691
Depreciation expense tax difference	149,650	101,240	(37,035)	(8,025)	205,830
Other unrealized benefits	115,003	256,986	(11,636)	(22,191)	338,162
	$ 981,885	$ 358,226	($ 33,344)	($ 43,961)	$ 1,262,806

For the year ended December 31, 2024

	Opening balance	Recognized in profit or loss	Exchange rate movements	Closing Balance
Deferred tax assets
Temporary difference
Unrealized inventory write-off	$ 31,300	($ 18,300)	$ -	$ 13,000
Unrealized sales discount	72,910	19,700	-	92,610
Tax loss carryforward	17,376	( 8,484)	( 494)	8,398
Other unrealized expenses and losses	279,719	( 150,809)	-	128,910
	$ 401,305	($ 157,893)	($ 494)	$ 242,918

58 -

	Opening balance	Recognized in profit or loss	Exchange rate movements	Closing Balance
Deferred tax liabilities
Temporary difference
Unrealized land value added tax	$ 62,612	$ -	($ 217)	$ 62,395
Share of profit of subsidiaries accounted for using equity method	842,008	( 214,360 )	27,189	654,837
Depreciation expense tax difference	212,014	( 70,965 )	8,601	149,650
Other unrealized benefits	70,903	44,100	-	115,003
	$ 1,187,537	($ 241,225 )	$ 35,573	$ 981,885

(4) As of December 31, 2025 the amount of unused loss carryforwards of deferred income tax assets not recognized in the consolidated balance sheet is as follows:

Balance not deducted	Last deduction year
$ 284,639	2026
114,106	2027
262,842	2028
6,993	2029
6,732	2030
7,272	2031
26,591	2032
4,235	2033
7,207	2034
$ 720,617

(5) Income tax examination

The Company’s income tax returns for profit-making enterprises up to the year 2023 have been approved by the tax collection authority authorities.

30. EARNINGS PER SHARE

	For the Year Ended December 31
	2025	2024
Basic earnings per share	$ 6.05	$ 5.91
Diluted earnings per share	$ 6.03	$ 5.89

To calculate earnings per share, The Company’s net income attributable to common shareholders of the parent and its weighted average number of ordinary shares outstanding (in thousands of shares) were as follows:

Net profit of the current period	For the Year Ended December 31
	2025	2024
Basic Net profit attributable to shareholders of parent earnings	$ 2,923,435	$ 3,012,223

Number of shares

Unit: Thousand Shares

	For the Year Ended December 31
	2025	2024
Weighted average number of ordinary shares used in the computation of basic earnings per share	483,173	509,519
Effect of potentially dilutive ordinary shares:
Employees’ compensation	1,614	2,052
Weighted average number of ordinary shares used in the computation of diluted earnings per share	484,787	511,571

If the Group has the option to settle employee compensation in shares or cash, the calculation of diluted earnings per share is based on the assumption that employee compensation will be settled in shares, and the resulting potential ordinary shares are included in the weighted average number of ordinary shares outstanding if such shares have a dilutive effect in calculating diluted earnings per share. In calculating diluted earnings per share prior to the resolution by the Board of Directors regarding the number of shares to be issued for employee compensation in the following year, the dilutive effect of such potential ordinary shares is also taken into consideration

31. BUSINESS COMBINATIONS

(1) Subsidiaries acquired

On April 8, 2025, the Group acquired 100% of the equity of Lincstech Co., Ltd. ("Lincstech") and its wholly owned subsidiaries Lincstech YGA Co., Ltd., Lincstech Circuit Singapore Pte. Ltd., and Lincstech America Inc.

(2) Consideration transferred

The transfer consideration amounted to JPY 29.5 billion (approximately $6.75 billion) as of April 8, 2025, and was adjusted on September 3, 2025 to JPY 29.56 billion (approximately $ 6.76 billion) in accordance with the operating results of Lincstech Co., Ltd. as stipulated in the agreement.

(3) Assets acquired and liabilities assumed at the date of reorganization

	Lincstech Co., Ltd. and subsidiaries
Current Assets
Cash and cash equivalents	$ 1,878,826
Notes receivable	48,438
Accounts receivable	2,984,568
Other receivables	19,247
Inventories	1,956,028
Other current assets	167,065
Non-current Assets
Financial assets at fair value through other comprehensive income- non-current	13,601
Property, plant and equipment	4,794,949
Right-of-use assets	333,842
Goodwill	497,521

	Lincstech Co., Ltd. and subsidiaries
Intangible assets	1,586,553
Deferred tax assets	14,297
Deposits paid	21,164
Other non-current assets	12,567
Current Liabilities
Short-term borrowings	( 153,699)
Accounts payable	( 1,957,562)
Other payables	( 1,024,526)
Current tax liabilities	( 239,947)
Lease liabilities-current	( 50,314)
Other current liabilities	( 7,596)
Non-current Liabilities
Long-term borrowings	( 4,265,802)
Deferred tax liabilities	( 217,564)
Lease liabilities-non-current	( 353,381)
Other non-current liabilities	( 671,820)
	$ 5,386,455
(4) Goodwill recognized on acquisitions
	Lincstech Co., Ltd. and subsidiaries
Consideration transferred	$ 6,756,969
Less: Fair value of identifiable net assets acquired	( 5,386,455 )
Goodwill recognized on acquisitions	$ 1,370,514

The goodwill recognized in the acquisitions of Lincstech Co., Ltd. mainly represents the control premium included in the cost of the combinations. In addition, the consideration paid for the combinations effectively included amounts attributed to the benefits of expected synergies, revenue growth, future market development and the assembled workforces of Lincstech Co., Ltd. These benefits are not recognized separately from goodwill because they do not meet the recognition criteria for identifiable intangible assets.

(5) Net cash outflow on the acquisition of subsidiaries

Consideration paid in cash

Less: Cash and cash equivalent balances acquired

Lincstech Co., Ltd.	$ 6,756,969
	( 1,878,826 )
	$ 4,878,143

(6) Impact of acquisitions on the results of the Group

The financial results of the acquirees since the acquisition dates, which are included in the consolidated statements of comprehensive income, were as follows:

Uncstech Co., Ltd. and subsidiaries
Operating revenue
$ 11,552,676
Net profit for the period
$ 430,527

Effective April 8, 2025, the Group acquired Lincstech Co., Ltd. However, as Lincstech's accounting standards and fiscal year differ from those of the Group, it is not possible to determine the impact on revenue and profit or loss for the reporting period had the acquisition date been January 1, 2025.

32. CAPITAL MANAGEMENT

The Group manages its capital to ensure that entities in the Group will be able to continue as going concerns while maximizing the return to stakeholders through the optimization of the debt and equity balance.

The main management of the Group reviews capital structure on an annual basis, which includes and considers the cost of various types of capital and related risks.

33. FINANCIAL INSTRUMENTS

(1) Fair value information

A. Financial instruments not measured at fair value

Except as set forth in the table below, the management of Group believes that the carrying amounts of financial assets and financial liabilities that are not measured at fair value approximate their fair values.

December 31, 2025

	carrying amount	Fair value
		Level 1	Level 2	Level 3	Total
Financial assets
Financial assets at amortized cost
—Treasury Bonds	$ 454,560	$ 459,319	$ -	$ -	$ 459,319
—Overseas corporate bonds	12,323,021	12,521,286	-	-	12,521,286

December 31, 2024

	carrying amount	Fair value
		Level 1	Level 2	Level 3	Total
Financial assets
Financial assets at amortized cost
—Treasury Bonds	$ 472,262	$ 470,491	$ -	$ -	$ 470,491
—Overseas corporate bonds	10,955,358	10,800,738	-	-	10,800,738

B.Financial instruments measured at fair value - measured at fair value on a recurring basis

December 31, 2025

	Level 1	Level 2	Level 3	Total
Financial assets at FVTPL
Derivative Instruments	$ -	$ 19,613	$ -	$ 19,613
Listed stocks	62,000	-	-	62,000
Mutual funds	103,715	-	-	103,715
Perpetual non-cumulative subordinated corporate bonds	-	362,642	-	362,642
Structured deposits	560,714	-	-	560,714
Limited partnership	-	-	49,817	49,817
	$ 726,429	$ 382,255	$ 49,817	$ 1,158,501
	Level 1	Level 2	Level 3	Total
---	---	---	---	---
Financial assets at FVTOCI
Investments in equity instruments
—Listed stocks	$ 8,883,286	$ -	$ -	$ 8,883,286
—Non-listed stocks	-	818,460	-	818,460
—Foreign listed Stocks	306,827	-	-	306,827
—Non-Foreign listed Stocks	-	8,774	-	8,774
	$ 9,190,113	$ 827,234	$ -	$10,017,347

December 31, 2024

	Level 1	Level 2	Level 3	Total
Financial assets at FVTPL
Derivative Instruments	$ -	$ 703	$ -	$ 703
Listed stocks	96,750	-	-	96,750
Mutual funds	380,444	-	-	380,444
Perpetual non-cumulative subordinated corporate bonds	-	361,914	-	361,914
Limited partnership	-	-	49,564	49,564
	$ 477,194	$ 362,617	$ 49,564	$ 889,375
	Level 1	Level 2	Level 3	Total
---	---	---	---	---
Financial assets at FVTOCI
Investments in equity instruments
—Listed stocks	$ 6,360,824	$ -	$ -	$ 6,360,824
—Non-listed stocks	-	462,592	-	462,592
—Foreign listed stocks	567,468	-	-	567,468
	$ 6,928,292	$ 462,592	$ -	$ 7,390,884

There was no transfer between level 1 and level 2 in 2025 and 2024.

C. Valuation techniques and assumptions applied for fair value measurement

The fair value of financial assets and financial liabilities are determined in the following ways:

a. The fair value of financial assets and financial liabilities with standard terms and conditions and traded in the active market is determined by referring to the market quotation respectively.

b. Derivatives with quoted prices in the active market are at fair value at market prices. Option derivatives without market price for reference use option pricing model to estimate fair value. Non option derivatives without market price for reference use discounted cash flow analysis to estimate the fair value based on the yield curve applicable to the duration. The fair value of the forward foreign exchange contract is measured by the forward exchange rate quotation and the yield curve derived from the quotation interest rate during the maturity period of the contract.

c. The fair value of other financial assets and financial liabilities (except for the above) is determined according to the generally recognized pricing mode based on the discounted cash flow analysis

(2) Financial risk management objectives and policies

The main financial instruments of the Group include investment in equity and debt instruments, notes and accounts receivable, notes and accounts payable and loans. The financial management department of the Group provides services for each business, coordinates the entry into domestic and international financial markets, and supervises and manages the exchange rate risk, interest rate risk, credit risk and liquidity risk related to the operation of the Group by analyzing the internal risk report of the exposure according to the risk degree and breadth.

In order to mitigate the impact of such risks, the Group uses derivative financial instruments to avoid exposure risks. The use of derivative financial instruments is governed by the policies adopted by the board of directors of the Group, which are exchange rate risk, interest rate risk, credit risk, the use of derivative financial instruments and non-derivative financial instruments, and the written principles for investment of residual liquidity. Internal auditors continuously review the compliance of policies and the amount of risk exposure.

A. Market risk

The main financial risks borne by the Group due to its operating activities are foreign currency exchange rate fluctuation risk (see (a) below) and interest rate fluctuation risk (see (b) below).

a. Foreign currency risk

The risk management of foreign currency changes arising from the foreign currency transactions of the Group is to manage the risk by using forward foreign exchange contracts and exchange contracts within the scope of the regulatory permission of the procedures for dealing with derivative financial products.

Refer to Note 38 for the book amounts of non-functional currency denominated monetary assets and monetary liabilities (including non-functional currency denominated monetary items written off in the consolidated financial statements) and derivatives with foreign currency risk of the Group on the balance sheet date.

Sensitivity analysis

The Group is mainly affected by the exchange rate fluctuations of US dollar and RMB. The sensitivity analysis of the Group only includes the foreign currency monetary items circulating outside, and adjusts the amount of the pretax profit and loss by adjusting the exchange rate of US dollar and RMB at the end of the period to $1\%$ of the appreciation of

63 -

new Taiwan dollar; when the exchange rate of US dollar and RMB is 1% of the depreciation of new Taiwan dollar, the impact on the pretax profit and loss will be a negative number of the same amount.

	Impact of 1% appreciation of US dollar		Impact of 1% appreciation of RMB		Impact of 1% appreciation of JPY
	2025	2024	2025	2024	2025	2024
Impact to net income before income tax	$145,607	$129,637	($33,596)	($18,793)	$4,319	($704)

b. Interest rate risk

The interest rate risk of the Group mainly comes from fixed and floating interest rate deposits and borrowings. The carrying amount of financial assets and liabilities of the Group exposure to interest rate risk on the balance sheet date is as follows:

	December 31, 2025	December 31, 2024
Interest rate risk with fair value
— Financial asset	$12,777,581	$11,493,190
Interest rate risk on cash flow
— Financial asset	27,342,561	26,914,374
— Financial liability	35,475,705	25,824,496

Sensitivity analysis

The following sensitivity analysis is based on the interest rate exposure of non-derivative instruments at the balance sheet date. For floating rate liabilities, the analysis method assumes that the amount of liabilities outstanding on the balance sheet date is outstanding during the reporting period.

The sensitivity analysis of interest rate risk is based on the change of fair value of financial assets and liabilities with floating interest rate at the end of the financial reporting period. If the interest rate increases by one percentage point, the pretax net profit of the Group in 2025 and 2024 will decrease by NT$ 81,331 thousand and increase by NT$ 10,899 thousand, respectively.

B. Credit risk

Credit risk refers to the risk of financial loss caused by the default of the counterparty. In order to reduce credit risk, the management of the Group shall assign a dedicated team to take charge of the determination of credit line, credit approval and other monitoring procedures to ensure that appropriate actions have been taken for the recovery of overdue receivables. In addition, the Group will review the recoverable amount of the receivables one by one on the balance sheet date to ensure that the receivables that cannot be recovered have been set aside for appropriate impairment loss. Therefore, the management of the Group thinks that the credit risk of the Group has been significantly reduced.

C. Liquidity risk

The Group manages and maintains sufficient cash and cash equivalents to support the company's operations and mitigate the impact of cash flow fluctuations. The management of the Group monitors the utilization of bank borrowings and ensures the compliance with the loan contract.

Bank borrowings are an important source of liquidity for the Group. As of December 31, 2025 and 2024, the unused financing lines of the Group are as follows (b) description of financing lines.

a. Liquidity and interest rate risk tables for non-derivative financial liabilities

The following table details the Gruop remaining contractual maturities for its non-derivative financial liabilities with agreed upon repayment periods. The table was prepared in accordance with the undiscounted cash flows of financial liabilities from the earliest date on which the Company would be asked to pay. Bank loans with a repayment on demand clause were included in the earliest period regardless the probability of the banks choosing to exercise their rights. The maturity dates for other non-derivative financial liabilities were based on the agreed upon repayment dates.

December 31, 2025

	Weighted average effective interest rate (%)	Less than 1 year	1~5 years	Over 5 years	Total
Non derivative financial liabilities
No interest bearing liabilities	-	$ 17,523,025	$ 330,374	$ -	$ 17,853,399
Lease liabilities	3.45%	318,650	472,929	265,360	1,056,939
Floating interest rate liabilities	1.93%	23,701,035	11,774,670	-	35,475,705
		$ 41,542,710	$ 12,577,973	$ 265,360	$ 54,386,043

Further information on maturity analysis of lease liabilities is as follows:

	Less than 1 year	1~5 years	5~10 years	10~15 years	10~15 years	Over 20 years	Total
Lease liabilities	$ 318,650	$ 472,929	$ 54,219	$ 68,629	$ 92,541	$ 49,971	$1,056,939

December 31, 2024

	Weighted average effective interest rate (%)	Less than 1 year	1~5 years	Over 5 years	Total
Non derivative financial liabilities
No interest bearing liabilities		$ 12,045,056	$ 138,337	$ -	$ 12,183,393
Lease liabilities	4.17%	215,842	460,349	3,397	679,588
Floating interest rate liabilities	2.05%	17,852,945	7,971,551	-	25,824,496
		$ 30,113,843	$ 8,570,237	$ 3,397	$ 38,687,477

Further information on maturity analysis of lease liabilities is as follows:

Less than 1 year	1~5 years	5~10 years	10~15 years	15~20 years	Total

Lease liabilities

$ 215,842

$ 460,349

$ 3,397

$ -

$ 679,588

The amount of the floating rate instruments of non derivative financial liabilities mentioned above will be changed due to the difference between the floating rate and the estimated interest rate at the end of the reporting period.

b. Financing facilities

	December 31, 2025	December 31, 2024
Unsecured bank loan facilities which may be extended by mutual agreement:
— Amount used	$ 35,481,371	$ 25,832,163
— Unused amount	48,151,157	32,404,724
	$ 83,632,528	$ 58,236,887

34. TRANSACTIONS WITH RELATED PARTIES

The transactions, account balances, income and expenses between the company and its subsidiaries (which are related parties of the company) are all eliminated during the merger, so they are not disclosed in this Note. Except as disclosed in other Notes, the transactions between the merged company and related parties are as follows.

(1) Related party name and category

Related Party Name	Related Party Category
Walsin Technology Corp.	Significant investor
Walsin Lihwa Corporation	Significant investor
INFO-TEK CORPORATION	Affiliated enterprise
Career Technology (MFG.) Co., Ltd.	Affiliated enterprise
Walsin New Energy Corporation	Affiliated enterprise
Zheng cheng Precision Industry Co., Ltd.	Other related party
Career Electronic (Kunshan) Co., Ltd.	Other related party
Career Technology (Suzhou) Co., Ltd.	Other related party
Walsin Technology Corporation (HK) Ltd.	Other related party
Suzhou Walsin Technology Electronics Co., Ltd.	Other related party
Dong Guan Walsin Tech. Ele. Co., Ltd.	Other related party
INPAQ TECHNOLOGY CO., LTD.	Other related party
Shanghai Walsin Lihwa Power Wire & Cable Co., Ltd.	Other related party
Prosperity Dielectrics Co., Ltd.	Other related party
Info-Tek Electronics (Suzhou) CO., LTD	Other related party
PSA CHARITABLE FOUNDATION	Other related party
PSA VVG Foundation for Culture and Arts	Other related party
Kamaya Electric(M) Sdn. Bhd	Other related party
Kamaya Electric Co., Ltd.	Other related party
Chin-Xin Investment Co., Ltd.	Other related party

67 -

Related Party Name	Related Party Category
Pan Overseas (Guangzhou) Electronic Co., Ltd.	Other related party
Walsin passive Component (H.K) limited	Other related party
Hannstar Display Corp.	Other related party
VVG INC.	Other related party
Career Social Welfare Charity Foundation	Other related party
Silitech Technology Corporation	Other related party
Chongqing Songjia Property Co., Ltd.	Other related party
JOYIN CO., LTD.	Other related party
Holypag Tech (Suzhou) Co., Ltd.	Other related party
Inpaq Technology (China) Co., Ltd.	Other related party
Walton Advanced Engineering, Inc.	Other related party

(2) Business transactions

Line Item	Related Party Category	For the Year Ended December 31
		2025	2024
Sales revenue	Significant investors	$ 3,686	$ 1,584
	Affiliated Enterprises	8,674	9,913
	Other related parties	93,765	71,539
		$ 106,125	$ 83,036
Purchase	Significant investors	$ 6,008	$ 3,417
	Affiliated Enterprises	27,331	5,275
	Other related parties	19,395	23,496
		$ 52,734	$ 32,188
Dividend income	Significant investors / Walsin Technology Corp.	$ 105,544	$ 121,552
	Other related parties	3,593	6,260
		$ 109,137	$ 127,812
Other incomes	Significant investors	$ 13,851	$ 9,864
	Affiliated Enterprises	10,786	9,262
	Other related parties	-	586
		$ 24,637	$ 19,712
Other expenses and losses	Significant investors	$ 34,495	$ 38,781
	Other related parties	41,425	10,962
	Affiliated Enterprises	30,310	9,856
		$ 106,230	$ 59,599

The trading conditions for the purchase and sale of goods by the Group to the related parties shall be agreed upon by both parties. Other income refers to the consulting service income collected by the Group from related parties, and other expenses and losses refer to the rental expenses and consulting service fees paid by the Group to related parties, and the rental price is paid on a monthly basis with reference to the local general market.

The balance of receivables and payables of related parties at the balance sheet date is as follows:

Line Item	Related Party Category	December 31
		2025	2024
Accounts receivable	Significant investors	$ 811	$ 707
	Affiliated Enterprises	5,145	12,290
	Other related parties	48,284	14,958
		$ 54,240	$ 27,955
Other receivables	Significant investors	$ 2,528	$ 2,351
	Affiliated Enterprises	1,385	1,394
	Other related parties	725	1,014
		$ 4,638	$ 4,759
Refundable deposit	Significant investors	$ 175	$ 175
Accounts payable	Significant investors	$ 275	$ 142
	Affiliated Enterprises	6,353	-
	Other related parties	6,875	7,681
		$ 13,503	$ 7,823
Other payables	Significant investors	$ 3,144	$ 3,985
	Affiliated Enterprises	47,539	-
	Other related parties	2,059	2,392
		$ 52,742	$ 6,377
Unearned revenue	Other related parties	$ 23,591	$ 23,630

Receivables from related parties are not guaranteed and no bad debt charges are provided. The balance of the outstanding payables to related parties is not guaranteed and will be settled in cash.

Other receivables refer to the consulting service income and equipment charges receivable from related parties; other payables refer to the consulting service fees, and rent payable to the related parties collection and payment fees payable to related parties ; Advances received refer to advances from related parties for purchasing merchandise.

(3) Acquisition of property, plant and equipment

	Purchase Price
	For the Year Ended December 31
Related Party Category	2025	2024
Affiliated Enterprises	$ 38,488	$ 3,200

(4) Disposal of property, plant and equipment

Proceeds

Gain (Loss) on Disposal

69 -

	For the Year Ended December 31		For the Year Ended December 31
Related Party Category	2025	2024	2025	2024
Other related party	$ -	$ 1,824	$ -	( $ 154 )

(5) Lease arrangements

	Purchase Price
	For The Nine Months Ended September 30
Related Party Category	2025	2024
Acquisition of right-of-use assets
Other related parties	$ -	$ 108,535
Affiliated Enterprises	189,316	51,236
	$ 189,316	$ 159,771
Line Item	Related Party Category	December 31 2025
---	---	---
Lease liabilities	Other related parties	$ 69,783
	Affiliated Enterprises	228,581
		$ 298,364
Related Party Category	December 31 2025	December 31 2024
---	---	---
Interest expense
Other related parties	$ 3,556	$ 4,057
Affiliated Enterprises	470	81
	$ 4,026	$ 4,138

The Group leased factories and offices in Malaysia and Guanyin District, Taoyuan City from Kamaya Electric (M) Sdn. in February and November 2024, respectively. The lease term is 4-5 years. The rent is based on the rental level of similar assets, and fixed lease payments are paid monthly in accordance with the lease agreement.

(6) Endorsement guarantee

The long-term guaranteed loans of the Group are jointly and severally guaranteed by the related party Chongqing Songjia Property Co., Ltd., and the company provides houses and buildings as collateral. Please refer to Note 20.

(7) Compensation of key management personnel

	December 31 2025	December 31 2024
Short-term employee benefits	$ 168,799	$ 165,520
Post-retirement benefits	682	837
Share-based payment	65,331	21,410
	$ 234,812	$ 187,767

The remuneration of directors and other key management is determined by the Remuneration Committee in accordance with individual performance and market trends.

ASSETS PLEDGED AS COLLATERAL

The following assets have been pledged as collateral for margin requirements on derivative financial instruments and customs deposits:

	December 31
	2025	2024
Restricted bank deposits (Financial assets measured at amortized cost)	$ 1,079,619	$ 328,133

36. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED COMMITMENTS

(1) Unused letters of credit were as follows:

Unit: In thousands of foreign currency

Currency	December 31
	2025	2024
EUR	$ 22	$ -
JPY	-	10,175

(2) Unrecognized commitments were as follows:

	December 31
	2025	2024
Acquisition of property, plant and equipment (Include construction industry inventory)	$ 4,685,752	$ 1,529,926

37. OTHER

(1) Agreements of relocation

The subsidiaries of the Group Kunshan Yuanmao Electronics Technology Co., Ltd. ("Kunshan Yuanmao") and Kunshan Xiongqiang Electronics Technology Co., Ltd. ("Kunshan Xiongqiang") had resolved to sign an agreement with Kunshan Development Zone House Expropriation Implementation Center agreeing to relocate its land use right and related real estate located on the north side of Jingwang Road and No. 259 Jinsha South Road in Kunshan Development Zone. The relocation compensation paid to Kunshan Yuanmao and Kunshan Xiongqiang will amount to RMB 479,532 thousand and RMB 141,642 thousand, respectively.

In 2024, the Group had completed the relocation of its non-current assets held for sale and had delivered them to the local government. Considering the uncertainty of subsequent collections, the related compensation income, expenses and taxes will be recognized as when they are actually incurred. In 2025, the Group received relocation compensation amounting to RMB 115,000 thousand. As of December 31, 2025 and the date of approval of these consolidated financial statements, the Group had cumulatively received partial relocation compensation of RMB130,264 thousand and RMB180,264 thousand, respectively.

(2) 2nd domestic unsecured convertible corporate bonds

On May 28, 2025, Global Brands Manufacture Limited's Board of Directors resolved to issue up to 10,000 units of 2nd domestic unsecured convertible corporate bonds denominated in New Taiwan Dollars, with an issue price ranging from 100% to 102% of par value, a coupon rate of 0%, a total issuance amount not exceeding NT$1,000,000 thousand, and a maturity of three years. The issuance was declared effective by the FSC under Letter No. 11403483091 dated July 1, 2025 and the fundraising period was subsequently approved for extension to December 31, 2025 under Letter No.1140359159 dated September 26, 2025. However, in light

of recent fluctuations in the domestic capital market and international political and economic conditions, and after taking into consideration the Company's overall funding plans and the best interests of all shareholders, the Company applied to the FSC to withdraw its proposed issuance of 2nd domestic unsecured convertible bonds. The application was approved by the FSC under Letter No. 1140366631 dated December 3, 2025.

38. SIGNIFICANT EXCHANGE RATE INFORMATION OF FOREIGN CURRENCY FINANCIAL ASSETS AND LIABILITIES

The following information is summarized and expressed in foreign currencies other than the functional currencies of each entity of the Group. Foreign currency assets and liabilities with significant impact were as follows:

Unit: In thousands of foreign currency

December 31, 2025	Foreign currency	Exchange rate	Carrying amount
Financial asset
Monetary items
USD	$ 867,172	31.43	$ 27,255,216
RMB	485,872	4.4966	2,184,772
JPY	8,124,051	0.2008	1,631,309
Financial liabilities
Monetary item
USD	403,898	31.43	12,694,514
RMB	1,233,024	4.4966	5,544,416
JPY	5,973,045	0.2008	1,199,387
December 31, 2024	Foreign currency	Exchange rate	Carrying amount
Financial asset
Monetary items
USD	$ 719,786	32.785	$ 23,598,184
RMB	499,480	4.4891	2,242,216
JPY	5,903,151	0.2099	1,239,071
Financial liabilities
Monetary item
USD	$ 324,369	32.785	$ 10,634,438
RMB	918,117	4.4891	4,121,519
JPY	6,238,382	0.2099	1,309,436

For the 2025 and 2024, the Group included unrealized and realized foreign currency exchange (losses) benefits were (NT$ 170,721) thousand NT$ 692,232 thousand respectively. Due to the variety of foreign currency transactions and functional currencies of the Group entities, it is unable to disclose exchange gains and losses according to the foreign currencies with significant impact.

39. SEPARATELY DISCLOSED ITEMS

(1) Information about significant transactions

No.	Item	Description
1	Financing provided to others.	Nil
2	Endorsements/guarantees provided.	Nil
3	Marketable securities held.	Table 1
4	Total purchases from or sales to related parties amounting to at least NT$100 million or 20% of the paid-in capital.	Table 2
5	Receivables from related parties amounting to at least NT$100 million or 20% of the paid-in capital.	Table 3

(2) Information on investees

No.	Item	Description
1	Information on investees.	Table 4
2	Financing provided to others.	Table 5
3	Endorsements/guarantees provided.	Table 6
4	Marketable securities held.	Table 7
5	Total purchases from or sales to related parties amounting to at least NT$100 million or 20% of the paid-in capital.	Table 8
6	Receivables from related parties amounting to at least NT$100 million or 20% of the paid-in capital.	Table 9

(3) Information on investments in mainland China

No.	Item	Description
1	Information on any investee company in mainland China, showing the name, principal business activities, paid-in capital, method of investment, inward and outward remittance of funds, ownership percentage, net income of investees, investment income or loss, carrying amount of the investment at the end of the year, repatriations of investment income, and limit on the amount of investment in the mainland China area.	Table 10~11
2	Any of the following significant transactions with investee companies in mainland China, either directly or indirectly through a third party.	Table 10~11

73 -

No.	Item	Description
3	Any of endorsement, guarantees, or collaterals provided to investee companies in mainland China, either directly or indirectly through a third party.	Table 10~11
4	Financing provided to investee companies in mainland China, either directly or indirectly through a third party.	Table 10~11
5	Other transactions that have a significant impact on the current profit or loss or financial position.	Nil

(4) Intercompany relationships and significant intercompany transactions

Refer to Table 12 for the intercompany relationships and significant intercompany transactions for the year ended December 31, 2025.

40. SEGMENT INFORMATION

Each of operating segment is considered a separate operating segment by the chief operating decision maker. For the purposes of financial statement presentation, these individual operating segments have been aggregated into a single operating segment, taking into account the following factors:

The operating segments have similar long-term gross profit margins;
The method of generating cash flow is similar;
The daily operation activities are similar.

a. Segment revenue and results

The following was an analysis of the Group’s revenue and results from continuing operations by reportable segments:

PCB Segment — PCB manufacturing and sales
EMS Segment — PCB assembly & sales business
Other Segments — Others

The financial information of relevant segments of the group for the year ended December 31, 2025 and 2024 is as follows:

	For The Year Ended December 31, 2025
	PCB	EMS.	Other	Adjustment and eliminations	Total
Operating revenue	$ 53,828,480	$ 8,248,277	$ 370,051	($ 5,220,605)	$ 57,226,203
Cost of goods sold	44,309,885	6,658,610	200,581	( 5,227,223)	45,941,853
Gross profit	9,518,595	1,589,667	169,470	6,618	11,284,350
Operating expenses	4,053,686	426,394	719,961	( 6,374)	5,193,667
Operating profit (loss)	5,464,909	1,163,273	( 550,491)	12,992	6,090,683
Non-operating income and losses	( 303,992)	90,363	1,080,638	( 12,992)	854,017
Profit (Loss) before income tax	$ 5,160,917	$ 1,253,636	$ 530,147	$ -	$ 6,944,700

For The Year Ended December 31, 2024

	PCB	EMS	Other	Adjustment and eliminations	Total
Operating revenue	$ 37,954,848	$ 7,808,713	$ 392,108	($ 4,523,637)	$ 41,632,032
Cost of goods sold	29,395,191	6,286,095	342,539	( 4,569,951)	31,453,874
Gross profit	8,559,657	1,522,618	49,569	46,314	10,178,158
Operating expenses	2,989,616	439,239	634,032	( 10,419)	4,052,468
Operating profit (loss)	5,570,041	1,083,379	( 584,463)	56,733	6,125,690
Non-operating income and losses	590,017	218,325	531,698	( 56,733)	1,283,307
Profit (Loss) before income tax	$ 6,160,058	$ 1,301,704	($ 52,765)	$ -	$ 7,408,997

The intersegment transactions have been written off for the year ended December 31, 2025 and 2024.

b. Total segment assets

	December 31, 2025
	PCB	EMS	Other	Adjustment and eliminations	Total
Cash and cash equivalents	$ 14,232,612	$ 5,170,514	$ 3,733,020	$ -	$ 23,136,146
Notes and accounts receivable	16,145,127	2,354,786	7,531	( 2,000,225)	16,507,219
Inventories	9,141,475	958,026	1,440,779	-	11,540,279
Other current assets	5,082,089	2,136,258	5,164,620	( 5,508,172)	6,874,795
Total current assets	44,601,303	10,619,584	10,345,950	( 7,508,397)	58,058,439
Investments accounted for using equity method	41,225,746	305,103	55,773,736	( 92,995,510)	4,309,075
Property, plant, equipment and investment property	13,468,527	984,834	5,337,229	-	19,790,589
Goodwill and intangible assets	627,689	108,484	-	3,226,510	3,962,683
Other non-current assets	11,594,877	145,116	14,378,536	-	26,118,529
Total assets	$111,518,142	$ 12,163,121	$ 85,835,451	($ 97,277,397)	$112,239,315
	December 31, 2024
---	---	---	---	---	---
	PCB	EMS	Other	Adjustment and eliminations	Total
Cash and cash equivalents	$ 12,985,670	$ 4,736,757	$ 3,436,399	$ -	$ 21,158,826
Notes and accounts receivable	12,010,511	2,381,647	131,869	( 1,942,462)	12,581,565
Inventories	4,838,336	1,050,396	1,716,008	-	7,604,740
Other current assets	4,573,861	2,326,021	6,839,237	( 9,105,359)	4,633,760
Total current assets	34,408,378	10,494,821	12,123,513	( 11,047,821)	45,978,891
Investments accounted for using equity method	38,138,524	322,181	51,058,042	( 85,186,750)	4,331,997
Property, plant, equipment and investment property	10,997,065	881,434	2,079,080	-	13,957,579
Goodwill and intangible assets	24,194	113,161	-	593,878	731,233
Other non-current assets	10,713,683	22,849	13,831,597	( 156,861)	24,411,268
Total assets	$ 94,281,844	$ 11,834,446	$ 79,092,232	($ 95,797,554)	$ 89,410,968

75 -

(1) Geographical information

The Group’s revenue from continuing operations from external customers by location of operations and information about its non-current assets by location of assets are detailed below.

	Revenue from External Customers		Non-current Assets
	For the Year Ended December 31		December 31
	2025	2024	2025	2024
Asia	$ 52,189,278	$ 39,310,411	$ 26,131,474	$ 16,644,370
America	2,626,708	1,320,797	-	-
Europe	2,381,603	938,513	-	-
Others	28,614	62,311	-	-
	$ 57,226,203	$ 41,632,032	$ 26,131,474	$ 16,644,370

Non-current assets exclude financial instruments, deferred tax assets, and defined benefit assets.

(2) Information about major customers

No other single customers contributed 10% or more to the Group’s revenue for both 2025 and 2024.

Table 1

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

MARKETABLE SECURITIES HELD

DECEMBER 31, 2025

(Amounts in Thousands of New Taiwan Dollars, Unless Specified Otherwise)

Holding Company Name	Type and Name of Marketable Securities	Relationship with the Holding Company	Financial Statement Account	December 31, 2025
				Number of Shares	Carrying Amount (Foreign Currencies in Thousands)	Percentage of Ownership (%)	Fair Value (Foreign Currencies in Thousands)
HannStar Board Corp.	Shares
Tsai Yi Corporation	Other related parties	Financial assets at FVTOCI- non-current	4,270,687	$ 98,354	2.91	$ 98,354
	Chin-Xin Investment Co., Ltd.
Walsin Technology Corp.	Other related parties	"	6,500,000	489,255	1.34	489,255
		Investors with significant influence	"	43,886,115	5,134,676	9.03	5,134,676
	Walton Advanced Engineering, Inc.	Other related parties	"	14,761,000	844,329	2.85	844,329

Note 1: The term "securities" in this Table refers to the stocks, bonds, beneficiary certificates and the securities derived from the above items within the scope of IFRS 9 financial instruments.
Note 2: This table lists the securities that the company determines should be disclosed based on the principle of materiality.
Note 3: Please refer to Tables 4, 10 and 11 for information about investment in subsidiaries, associates and joint ventures.

Table 2

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

TOTAL PURCHASES FROM OR SALES TO RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID-IN CAPITAL

FOR THE YEAR ENDED DECEMBER 31, 2025

(In Thousands of New Taiwan Dollars)

Company Name	Related Party	Relationship	Transaction Details				Abnormal Transaction		Notes/Accounts Receivable (Payable)
			Purchase/Sale	Amount	% of Total Purchase/Sales	Payment Terms	Unit Price	Payment Terms	Ending Balance	% of Total
HannStar Board Corp.	HannStar Board Tech. (Jiangyin) Corp.	100% indirect subsidiary	Purchase	$ 3,932,828	65	Monthly settlement 95 days	N/A	N/A	($ 1,816,927)	( 66 )
〃	〃	〃	Sales	( 266,886 )	( 3 )	Monthly settlement 150 days	〃	〃	148,674	5

77 -

Table 3

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

RECEIVABLES FROM RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID-IN CAPITAL
DECEMBER 31, 2025
(In Thousands of New Taiwan Dollars / In Foreign currency)

Company Name	Related Party	Relationship	Ending Balance	Turnover Rate	Overdue		Amounts Receivable in Subsequent Period	Allowance for Impairment Loss
					Amount	Actions taken
HannStar Board Corp.	HannStar Board Tech. (Jiangyin) Corp.	100% indirect subsidiary	$ 148,674 USD 4,730,329	2.28	$ -	—	$ 60,087 USD 1,911,775	$ -

78 -

Table 4

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

INFORMATION ON INVESTEES

FOR THE YEAR ENDED DECEMBER 31, 2025

(In Thousands of New Taiwan Dollars / In Foreign currency)

Investor Company	Investor Company	Location	Main Businesses and Products	Original Investment Amount		December 31, 2025			Net Income (Loss) of the Invoices	Share of Profit (Loss)	Note
				December 31, 2025	December 31, 2024	Number of Shares	%	Carrying Amount
HannStar Board Corporation	HannStar Board (BVI) Holdings Corp.	British Virgin Islands	General investment	$ 1,724,145	$ 1,724,145	52,000,000	100.00	$ 26,491,240	$ 2,101,018	$ 2,101,018
"	Global Brands Manufacture Ltd.	Taiwan	PCB manufacturing and sales	5,113,154	4,483,961	201,204,729	40.30	11,160,224	3,150,503	1,280,168	Note 2
"	Carrer Technology (MFG.) Co., Ltd	Taiwan	PCB manufacturing and sales	4,428,098	4,056,968	176,415,555	27.73	2,532,024	(2,765,196)	(761,155)
"	Walsin New Energy Corporation	Taiwan	Solar power generation	12,500	12,500	1,250,000	25.00	9,592	(6,733)	(1,683)
HannStar Board (BVI) Holdings Corp.	HannStar Board International Holdings Ltd.	Cayman Islands	General investment	4,140,581	4,140,581	1,316,250,000	100.00	17,263,514	1,731,965	1,731,965
"	HannStar Board Investments (Hong Kong) Limited	Hong Kong	General investment	108,578	108,578	USD 3,600,000	100.00	92,398	(1,961)	(1,961)
"	PSA JAPAN INVESTMENT G.K.	Japan	General investment	280,653	280,653	USD 8,623,538	18.00	288,398	85,687	15,424
HannStar Board Investments (Hong Kong) Limited	GHPW Enterprise Corporation (Hong Kong) Ltd.	Hong Kong	General investment	108,709	108,709	USD 3,600,000	15.00	92,384	(13,073)	(1,961)
HannStar Board Investments (Hong Kong) Limited	HannStar Board Holdings (Hong Kong) Ltd.	Hong Kong	General investment	8,674,729	8,674,729	215,970,000	100.00	17,247,388	1,732,105	1,732,105
HannStar Board International Holdings Ltd.	HannStar Board Technology Co., Ltd.	Chongqing Xincheng Electronics Co., Ltd.	Sales of electronic components, Real estate investment and leasing	58,582	58,582	RMB 11,325,649	21.35	65,253	(3,011)	(643)
HannStar Board Tech. (Jiangyin) Corp.	Chongqing Shushong Investment Co., Ltd.	Chongqing City, China	General investment, etc.	643,270	643,270	RMB 135,950,000	25.65	610,159	(130,683)	(33,520)
Chongqing Shushong Investment Co., Ltd.	Chongqing Shushong Investment Co., Ltd.	Chongqing City, China	Emerprise real estate management	1,916,545	1,916,545	RMB 400,000,000	100.00	1,761,822	(132,159)	(132,159)
Global Brands Manufacture Ltd.	Up First Investments Ltd.	British Virgin Islands	General investment	4,747,116	5,220,149	USD 152,322,352	100.00	14,815,541	1,367,954	1,367,954
"	Dynamic Skyline Ltd.	British Virgin Islands	General investment	1,026,016	1,026,016	USD 32,800,000	100.00	9,023,194	663,862	663,862
"	Success Ocean Investments Ltd.	British Virgin Islands	General investment	1,655,630	1,655,630	USD 51,300,000	100.00	1,671,043	85,589	85,589
"	Cheng Cheng Enterprise Co., Ltd.	Taiwan	Real estate business and rents	344,393	344,393	14,000,000	100.00	230,305	23,197	23,197
"	Fulcon Automation Equipment Corp.	Taiwan	Mechanical device and electronic components manufacture service	10,300	10,300	3,831,600	50.24	92,801	1,334	670
"	INFO-TEK CORPORATION	Taiwan	Electronic spare part manufacturing industry	319,666	319,666	33,270,949	27.55	1,011,761	288,665	81,975
"	Walsin New Energy Corporation	Taiwan	Solar energy generation	5,000	5,000	500,000	10.00	3,846	(6,643)	(664)
"	Linctsch EPC Co., Ltd. (Note 5)	Japan	PCB production and sales business	1,082,296	1,082,296	8,500	100.00	(728,110)	(324,921)	(325,393)
"	GBM ELECTRONICS (M) SDN. BHD.	Malaysia	PCB assembly sales service	1,399,284	1,399,284	200,000,000	100.00	(1,802,919)	31,726	(1,726)
"	Lincstech Co., Ltd.	Japan	PCB production and sales business	6,756,969	-	202,000	100.00	1,721,568	517,364	430,527	Note 3
Fulcon Automation Equipment Corp.	Zihengcheng Precision Industry Co., Ltd.	Taiwan	Machine equipment manufacture service	17,000	17,000	2,720,000	34.00	57,652	(26,976)	(9,172)

(Continued)

Investor Company	Investor Company	Location	Main Businesses and Products	Original Investment Amount			December 31, 2025			Net Income (Loss) of the Investor
				December 31, 2025	December 31, 2024	Number of Shares	%	Carrying Amount
Up First Investments Ltd.	Effort Growth Developments Ltd.	British Virgin Islands	General investment	$ 235,060	$ 235,060	USD 7,326,152	100.00	$ 47,606	$ 96,028	$ 96,028
				USD 7,326,152	USD 7,326,152	(Note 1)		USD 1,514,672	USD 3,079,788	USD 3,079,788
".	GBM UP (HK) Ltd.	Hong Kong	General investment	217,822	217,822	USD 7,200,000	100.00	184,786	(3,951)	(3,951)
				USD 7,200,000	USD 7,200,000	(Note 1)		USD 5,879,274	(USD 126,731)	(USD 126,731)
".	Forever Line Ltd.	Hong Kong	General investment	505,253	978,286	54,392,201	100.00	196,815	223,221	223,221
				USD 20,342,690	USD 35,342,690			USD 6,262,026	USD 7,159,107	USD 7,159,107
.	PSA Japan Investment G.K.	Japan	General investment	279,834	279,834	USD 8,623,538	18.00	288,398	98,603	17,748
				USD 8,623,538	USD 8,623,538	(Note 1)		JPY 1,436,247,248	JPY 472,914,456	JPY 85,124,602
Success Ocean Investments Ltd.	Always Up Investments Ltd.	Hong Kong	General investment	933,798	933,798	HKD 227,112,381	100.00	908,872	44,227	44,227
				USD 29,300,000	USD 29,300,000	(Note 1)		USD 28,917,348	USD 1,418,454	USD 1,418,454
.	CMK Global Brands Manufacture Ltd.	British Virgin Islands	General investment	1,034,792	1,034,792	8,600,000	86.00	464,323	48,095	41,362
				USD 31,500,000	USD 31,500,000			USD 14,773,243	USD 1,542,495	USD 1,326,546
Dynamic Skyline Ltd.	Centralian Investments Ltd.	British Virgin Islands	General investment	1,220,878	1,220,878	40,000,000	100.00	-	83	83
				USD 37,452,000	USD 37,452,000			USD -	USD 2,672	USD 2,672
.	Will Grow Holdings Ltd.	Hong Kong	General investment	2,511	4	1,000	100.00	3,041,729	453,454	453,371
				USD 82,618	USD 129			USD 96,777,873	USD 14,543,126	USD 14,540,454
.	Total Rich Holdings Ltd.	Hong Kong	General investment	126	126	1	100.00	300,932	50,847	50,847
				USD 3,716	USD 3,716			USD 9,574,665	USD 1,630,754	USD 1,630,754
.	Up Ever Holdings Ltd.	Hong Kong	General investment	753	753	1	100.00	206,800	38,082	38,082
				USD 22,218	USD 22,218			USD 6,579,702	USD 1,221,352	USD 1,221,352
Lincstech EPC Co., Ltd. (Note 5)	Lincstech Circuit Malaysia Sdn. Bhd.(Note 4)	Malaysia	PCB production and sales service	2,218,575	2,218,575	MYR 305,500,000	98.63	(1,237,276)	373,087	(363,548)
				MYR 305,500,000	MYR 305,500,000	(Note 1)		(MYR 158,971,486)	(MYR 50,834,868)	(MYR 49,535,123)
Centralian Investments Ltd.	Will Grow Holdings Ltd.	Hong Kong	General investment	-	1,300,814	-	-	-	453,454	83
				USD -	USD 40,000,000			USD -	USD 14,543,126	USD 2,672
Lincstech Co., Ltd.	Lincstech YGA Co., Ltd.	Japan	PCB production and sales service	22,691	-	198,000	100.00	(230,065)	(112,562)	(112,562)
				JPY 99,000,000	JPY -			(JPY 1,145,740,112)	(JPY 539,867,554)	(JPY 539,867,554)
.	Lincstech Circuit Singapore Pte. Ltd.	Singapore	PCB production and sales service	554,400	-	32,800,000	100.00	4,805,528	441,160	415,763
				SGD 32,800,000	SGD -			JPY 23,931,912,887	JPY 2,115,875,626	JPY 1,994,064,815
.	Lincstech America Inc.	United States of America	PCB production and sales service	20,510	-	1	100.00	109,880	51,484	50,809
				USD 700,000	USD -			JPY 547,211,831	JPY 246,924,627	JPY 243,688,980
Chuan Yi Computer (Chongqing) Co., Ltd.	Chongqing Ruishuang Technology Co., Ltd.	Chongqing City, China	Electronic fitting research and development and sale	45,327	45,327	RMB 9,050,000	34.51	52,151	(1,451)	(501)
				RMB 9,050,000	RMB 9,050,000	(Note 1)		USD 1,659,275	USD 46,529	(USD 16,055)
GBM UP (HK) Ltd.	GHPW Enterprise Corporation (Hong Kong) Ltd.	Hong Kong	General investment	217,822	217,822	USD 7,200,000	30.00	184,768	(13,172)	(3,951)
				USD 7,200,000	USD 7,200,000	(Note 1)		USD 5,878,733	USD 422,452	(USD 126,736)
Kanshan Yuansong Electronics Technology CO., Ltd.	Chongqing Shuohong Investment Co., Ltd.	Chongqing City, China	General investment, etc.	320,186	320,186	RMB 67,990,000	12.83	305,103	(130,700)	(16,827)
				RMB 67,990,000	RMB 67,990,000	(Note 1)		USD 9,707,380	(RMB 70,163,970)	(RMB 3,869,434)
Chuan Yi Computer (Shenzhen) Co., Ltd.	Chongqing Shuohong Investment Co., Ltd.	Chongqing City, China	General investment, etc.	320,186	320,186	RMB 67,990,000	12.83	305,103	(130,700)	(16,827)
				RMB 67,990,000	RMB 67,990,000	(Note 1)		USD 9,707,367	(RMB 70,163,970)	(RMB 3,869,434)

Note 1: It is presented in the original investment amount.
Note 2: With significant non-controlling interests.
Note 3: The net income(loss) of the investee covers the amount from April 8 to December 31, 2025.
Note 4: The company was originally named ELNA Pcb (M) Sdn. Bhd. and was renamed Lincstech Circuit Malaysia Sdn. Bhd. in October 2025.
Note 5: The company was originally named ELNA Printed Circuits Co., Ltd. and was renamed Lincstech EPC Co., Ltd. in January 2026.

(Concluded)

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

Table 5

FINANCING PROVIDED TO OTHERS

FOR THE YEAR ENDED DECEMBER 31, 2025

(In Thousands of New Taiwan Dollars / In Foreign currency)

No. (Note 1)	Lender	Borrower	Financial Statement Account	Related Party	Highest Balance for the Period	Ending Balance	Actual Amount Borrowed	Interest Rate (%)	Nature of Financing (Note 2)	Business Transaction Amount	Reasons for Short-term Financing	Allowance for Impairment Loss	Collateral		Financing Limit for Each Borrower (Note 3)	Aggregate Financing Limit (Note 3)
													Item	Value
1	Global Brands Manufacture Ltd.	Linotech EPC Co., Ltd. (Note 5)	Other receivables from related parties	Y	$ 332,050 USD 10,000,000	$ USD	-	-	2	$	Operating turnover and loan repayment	$	-	$ -	$ 10,488,443	$ 10,488,443
o	o	Cheng Cheng Enterprise Co., Ltd.	o	o	350,000	-	-	-	Not more than 3.0%	2	-	o	-	-	10,488,443	10,488,443
o	o	Linotech Co., Ltd.	o	o	4,259,800 JPY19,000,000,000	3,815,200 JPY19,000,000,000	-	-	Not more than 5.0%	2	-	o	-	-	10,488,443	10,488,443
o	o	Linotech YGA Co., Ltd.	o	o	448,400 JPY2,000,000,000	401,600 JPY2,000,000,000	-	-	Not more than 5.0%	2	-	o	-	-	10,488,443	10,488,443
o	o	Linotech Circuit Malaysia Sdn. Bhd. (Note 4)	o	o	942,900 USD 30,000,000	942,900 USD 30,000,000	433,246 JPY2,157,598,750	-	Not more than 5.0%	2	-	o	-	-	10,488,443	10,488,443
2	Chuan Yi Computer (Shenzhen) Co., Ltd.	Kunshan Xiongqing Electronics Technology Co., Ltd.	o	o	292,975 RMB 64,000,000	143,871 RMB 32,000,000	53,953 RMB 12,000,000	-	Not more than 5.0%	2	-	o	-	-	2,288,609	2,288,609
3	Up First Investments Ltd.	CMK Global Brands Manufacture Ltd.	o	o	996,150 USD 30,000,000	628,600 USD 20,000,000	590,447 USD 18,786,100	-	Not more than 5.0%	2	-	o	-	-	5,926,216	14,815,541
o	o	Linotech Circuit Malaysia Sdn. Bhd. (Note 4)	o	o	4,396,000 USD140,000,000	3,771,600 USD120,000,000	2,825,557 USD 89,900,000	-	Not more than 5.0%	2	-	o	-	-	5,926,216	14,815,541
o	o	Global Brands Manufacture Ltd.	o	o	2,324,350 USD 70,000,000	2,200,100 USD 70,000,000	-	-	Not more than 5.0%	2	-	o	-	-	5,926,216	14,815,541
o	o	Cheng Cheng Enterprise Co., Ltd.	o	o	332,050 USD 10,000,000	314,300 USD 10,000,000	215,037 JPY1,070,900,000	-	Not more than 5.0%	2	-	o	-	-	14,815,541	14,815,541
o	o	Linotech Co., Ltd.	o	o	3,955,800 JPY19,000,000,000	3,815,200 JPY19,000,000,000	-	-	Not more than 5.0%	2	-	o	-	-	14,815,541	14,815,541
o	o	Linotech YGA Co., Ltd.	o	o	416,400 JPY2,000,000,000	401,600 JPY2,000,000,000	401,600 JPY2,000,000,000	-	Not more than 5.0%	2	-	o	-	-	14,815,541	14,815,541
4	Success Ocean Investments Ltd.	Up First Investments Ltd	o	o	568,195 USD 19,000,000	298,585 USD 9,500,000	297,831 USD 9,476,000	-	Not more than 5.0%	2	-	o	-	-	1,002,626	1,002,626
5	Kunshan Yuansong Electronics Technology CO., Ltd.	Kunshan Yuanmao Electronics Technology Co., Ltd.	o	o	320,442 RMB 70,000,000	224,798 RMB 50,000,000	-	-	Not more than 5.0%	2	-	o	-	-	1,759,120	1,759,120
o	o	Kunshan Xiongqing Electronics Technology Co., Ltd.	o	o	179,839 RMB 40,000,000	179,839 RMB 40,000,000	-	-	Not more than 5.0%	2	-	o	-	-	1,759,120	1,759,120
6	Dong Guan Xiangcheng Electronic Technology Co., Ltd.	Global Brands Manufacture (Dongguan) Ltd.	o	o	833,821 RMB185,000,000	809,274 RMB180,000,000	597,964 RMB133,000,000	-	Not more than 5.0%	2	-	o	-	-	908,571	908,571
7	Dynamic Skyline Ltd.	Linotech Circuit Malaysia Sdn. Bhd. (Note 4)	o	o	3,254,090 USD 98,000,000	1,162,910 USD 37,000,000	1,162,910 USD 37,000,000	-	Not more than 5.0%	2	-	o	-	-	3,609,278	5,413,916
o	o	Up First Investments Ltd.	o	o	942,900 USD 30,000,000	942,900 USD 30,000,000	848,830 USD 27,007,000	-	Not more than 5.0%	2	-	o	-	-	5,413,916	5,413,916
8	Dong Guang Jin-Cheng Electronics Technology CO., Ltd.	Global Brands Manufacture (Dongguan) Ltd.	o	o	179,839 RMB 40,000,000	179,839 RMB 40,000,000	148,367 RMB 33,000,000	-	Not more than 5.0%	2	-	o	-	-	300,932	300,932
9	Yi-Kuan Electronics (Shenzhen) Co., Ltd.	Chuan Yi Computer (Shenzhen) Co., Ltd.	o	o	261,813 RMB 61,000,000	-	-	-	Not more than 5.0%	2	-	o	-	-	282,024	282,024
o	o	Global Brands Manufacture (Dongguan) Ltd.	o	o	265,262 RMB 59,000,000	265,262 RMB 59,000,000	-	-	Not more than 5.0%	2	-	o	-	-	282,024	282,024
10	GBM ELECTRONICS (M) SDN. BHD.	Linotech Circuit Malaysia Sdn. Bhd. (Note 4)	o	o	630,895 USD 19,000,000	597,170 USD 19,000,000	223,000 MYR 12,500,000 USD 4,000,000	-	Not more than 5.0%	2	-	o	-	-	722,309	1,083,463
11	Ever-Precise Recycle Company	Chuan Yi Computer (Chongqing) Co., Ltd.	o	o	134,879 RMB 30,000,000	134,879 RMB 30,000,000	89,919 RMB 20,000,000	-	Not more than 5.0%	2	-	o	-	-	183,689	183,689
12	Linotech Circuit Singapore Pte. Ltd.	Linotech Co., Ltd.	o	o	1,185,906 JPY5,289,500,000	1,062,132 JPY5,289,500,000	602,400 JPY3,000,000,000	-	Not more than 5.0%	2.75%	-	o	-	-	2,905,987	2,905,987
13	Kunshan Yuanmao Electronics Technology Co., Ltd.	Kunshan Xiongqing Electronics Technology Co., Ltd.	o	o	22,480 RMB 5,000,000	22,480 RMB 5,000,000	22,480 RMB 5,000,000	-	Not more than 5.0%	2	-	o	-	-	196,759	196,759
o	o	Kunshan Yuanmao Electronics Technology CO., Ltd.	o	o	427,117 RMB 95,000,000	427,117 RMB 95,000,000	-	-	Not more than 5.0%	2	-	o	-	-	196,759 (Note 3)	196,759 (Note 3)

No. (Note 1)	Lender	Borrower	Financial Statement Account	Related Party	Highest Balance for the Period	Ending Balance	Actual Amount Borrowed	Interest Rate (%)	Nature of Financing (Note 2)	Business Transaction Amount	Reasons for Short-term Financing	Allowance for Impairment Loss	Collateral		Financing Limit for Each Borrower (Note 3)	Aggregate Financing Limit (Note 3)
													Item	Value
14	Dong Guang Yao Cheng Electronics Technology CO., Ltd.	Global Brands Manufacture (Dongguan) Ltd.	Other receivables from related parties	Y	$ 157,359 RMB 35,000,000	$ 157,359 RMB 35,000,000	$ 148,367 RMB 33,000,000	Not more than 5.0%	2	-	Operating turnover and loan repayment	-	-	-	$ 206,800	$ 206,800

Note 2: The method to fill in the loan and nature of funds is as follows:

(1) Please fill in 1 for business contacts.
(2) Fill in 2 if there is a need for short-term financing.

Note 3: (1) Global Brands Manufacture Ltd. : According to the procedures for loan of funds from subsidiaries of the company to others, the total amount of loan of funds from subsidiaries to others shall not exceed 40% of the net value of financial statements audited or reviewed by a CPA in the latest period (the financial statements of December 31, 2025). Among them, the loan limit for a single enterprise to others shall not exceed 40% of the value of the latest financial statement.
(2) Chuan Yi Competer (Shenzhen) Co., Ltd. : According to the procedures for loan of funds from subsidiaries of the company to others, the total amount of loan of funds from subsidiaries to others shall not exceed 60% of the net value of financial statements audited or reviewed by a CPA in the latest period (the financial statements of December 31, 2025). Among them, the loan limit for a single enterprise to others shall not exceed 60% of the value of the latest financial statement.
(3) Up First Investments Ltd. : According to the procedures for loan of funds from subsidiaries of the company to others, the total amount of loan of funds from subsidiaries to others shall not exceed 100% of the net value of financial statements audited or reviewed by a CPA in the latest period (the financial statements of December 31, 2025). Among them, the loan limit for a single enterprise to others shall not exceed 100% of the value of the latest financial statement. Among them, the loan limit to a single enterprise with less than 100% direct or indirect shareholding shall not exceed 40% of the net value of the latest financial statement.
(4) Success Ocean Investments Ltd. : According to the procedures for loan of funds from subsidiaries of the company to others, the total amount of loan of funds from subsidiaries to others shall not exceed 60% of the net value of financial statements audited or reviewed by a CPA in the latest period (the financial statements of December 31, 2025). Among them, the loan limit for a single enterprise to others shall not exceed 60% of the value of the latest financial statement.
(5) Kunshan Yuansong Electronics Technology CO., Ltd. : According to the procedures for loan of funds from subsidiaries of the company to others, the total amount of loan of funds from subsidiaries to others shall not exceed 60% of the net value of financial statements audited or reviewed by a CPA in the latest period (the financial statements of December 31, 2025). Among them, the loan limit for a single enterprise to others shall not exceed 60% of the value of the latest financial statement.
(6) Dong Guan Xiangcheng Electronic Technology Co., Ltd. : According to the procedures for loan of funds from subsidiaries of the company to others, the total amount of loan of funds from subsidiaries to others shall not exceed 100% of the net value of financial statements audited or reviewed by a CPA in the latest period (the financial statements of December 31, 2025). Among them, the loan limit for a single enterprise to others shall not exceed 100% of the value of the latest financial statement.
(7) Dynamic Skyline Ltd. : According to the procedures for loan of funds from subsidiaries of the company to others, the total amount of loan of funds from subsidiaries to others shall not exceed 60% of the net value of financial statements audited or reviewed by a CPA in the latest period (the financial statements of December 31, 2025). Among them, the loan limit for a single enterprise to others shall not exceed 60% of the value of the latest financial statement. Among them, the loan limit to a single enterprise with less than 100% direct or indirect shareholding shall not exceed 40% of the net value of the latest financial statement.
(8) Dong Guang Jin-Cheng Electronics Technology CO., Ltd. : According to the procedures for loan of funds from subsidiaries of the company to others, the total amount of loan of funds from subsidiaries to others shall not exceed 100% of the net value of financial statements audited or reviewed by a CPA in the latest period (the financial statements of December 31, 2025). Among them, the loan limit for a single enterprise to others shall not exceed 100% of the value of the latest financial statement.
(9) Yi-Kuan Electronics (Shenzhen) Co., Ltd. : According to the procedures for loan of funds from subsidiaries of the company to others, the total amount of loan of funds from subsidiaries to others shall not exceed 100% of the net value of financial statements audited or reviewed by a CPA in the latest period (the financial statements of December 31, 2025). Among them, the loan limit for a single enterprise to others shall not exceed 100% of the value of the latest financial statement.
(10) GBM ELECTRONICS (M) SDN. BHD. : According to the procedures for loan of funds from subsidiaries of the company to others, the total amount of loan of funds from subsidiaries to others shall not exceed 60% of the net value of financial statements audited or reviewed by a CPA in the latest period (the financial statements of December 31, 2025). Among them, the loan limit for a single enterprise with less than 100% direct or indirect shareholding shall not exceed 40% of the net value of the latest financial statement.
(11) Ever-Precise Recycle Company : According to the procedures for loan of funds from subsidiaries of the company to others, the total amount of loan of funds from subsidiaries to others shall not exceed 60% of the net value of financial statements audited or reviewed by a CPA in the latest period (the financial statements of December 31, 2025). Among them, the loan limit for a single enterprise to others shall not exceed 60% of the value of the latest financial statement.
(12) Linrotech Circuit Singapore Pte. Ltd. : According to the procedures for loan of funds from subsidiaries of the company to others, the total amount of loan of funds from subsidiaries to others shall not exceed 60% of the net value of financial statements audited or reviewed by a CPA in the latest period (the financial statements of December 31, 2025). Among them, the loan limit for a single enterprise to others shall not exceed 60% of the value of the latest financial statement.
(13) Kunshan Yuanmao Electronics Technology Co. : According to the procedures for loan of funds from subsidiaries of the company to others, the total amount of loan of funds from subsidiaries to others shall not exceed 100% of the net value of financial statements audited or reviewed by a CPA in the latest period (the financial statements of December 31, 2025). Among them, the loan limit for a single enterprise to others shall not exceed 100% of the value of the latest financial statement. After a capital reduction in December 2025, the net assets of Kunshan Yuanmao Electronics Technology Co., Ltd. decreased, resulting in the total amount of funds lent to Kunshan Yuansong Electronics Technology Co., Ltd. exceeding the prescribed limit. The excess has been reported in accordance with regulations, and corrective measures have been proposed.
(14) Dong Guang Yao Cheng Electronics Technology CO., Ltd. : According to the procedures for loan of funds from subsidiaries of the company to others, the total amount of loan of funds from subsidiaries to others shall not exceed 100% of the net value of financial statements audited or reviewed by a CPA in the latest period (the financial statements of December 31, 2025). Among them, the loan limit for a single enterprise to others shall not exceed 100% of the value of the latest financial statement.

Note 4: The company was originally named ELNA Pcb (M) Sdn. Bhd. and was renamed Linrotech Circuit Malaysia Sdn. Bhd. in October 2025.

Note 5: The company was originally named ELNA Printed Circuits Co., Ltd. and was renamed Linrotech EPC Co., Ltd. in January 2026

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

Table 6

ENDORSEMENTS/GUARANTEES PROVIDED

FOR THE YEAR ENDED DECEMBER 31, 2025

(In Thousands of New Taiwan Dollars / In Foreign currency)

No. (Note 1)	Endorser/Guarantor	Endorser/Guarantee		Limit on Endorsement/ Guarantor Given on Behalf of Each Party (Note 3)	Maximum Amount Endorsed/ Guaranteed During the Period	Outstanding Endorsement/ Guarantor at the End of the Period	Actual Amount Borrowed	Amount Endorsed/ Guaranteed by Collateral	Ratio of Accumulated Endorsement/ Guarantor to Net Equity in Latest Financial Statements (%)	Aggregate Endorsement/ Guarantor Limit (Note 3)	Endorsement/ Guarantor Given by Parent on Behalf of Subsidiaries (Note 5)	Endorsement/ Guarantor Given by Subsidiaries on Behalf of Parent (Note 5)	Endorsement/ Guarantor Given on Behalf of Companies in Mainland China (Note 5)
		Name	Relationship (Note 2)
1	Global Brands Manufacture Ltd	Up First Investments Ltd.	2	$ 26,221,108	$ 332,050 USD 10,000,000	$ - USD 602,400	$ - USD 120,480	-	-	$ 52,442,216	Y	-	-
2	2	Linotech EPC Co., Ltd. (Note 7).	2	26,221,108	672,600 JPY 3,000,000,000	JPY 3,000,000,000 (Note 4)	JPY 600,000,000	-	2.30	52,442,216	Y	-	-
2	2	Linotech Circuit Malaysia Sdn. Bhd.(Note 6)	2	26,221,108	9,962 USD 300,000	- USD 6,425,600	- USD 3,815,200	-	-	52,442,216	Y	-	-
2	2	Linotech Co., Ltd.	2	26,221,108	6,662,400 JPY32,000,000,000 (Note 4)	JPY32,000,000,000 (Note 4)	JPY19,000,000,000	-	24.51	52,442,216	Y	-	-
2	Dong Guang Jin-Cheng Electronics Technology CO., Ltd	Global Brands Manufacture (Dongguan) Ltd.	4	150,466	5,219 RMB 1,140,000	5,125 RMB 1,140,000	- RMB -	-	1.70	150,466	-	-	Y

Note 1: The information on Hannstar Board Corporation and its subsidiaries is listed and labeled on the entitled "No." column.
(1) "0" represents Hannstar Board Corporation.
(2) Invoices are numbered consecutively starting from 1.
Note2: The relationship between the endorser/guarantee and the party being endorsed/guaranteed is as follows:
(1) Having business relationship.
(2) The endorser/guarantee parent company owns directly and indirectly more than 50% voting shares of the endorsed/guaranteed subsidiary.
(3) The endorsed/guaranteed company owns directly and indirectly more than 50% voting shares of the endorser/guarantee parent company.
(4) The endorser/guarantee parent company owns directly and indirectly more than 90% voting shares of the endorsed/guaranteed company.
(5) Mutual guarantee of the trade made by the endorsed/guaranteed company or joint contractor as required under the construction contract.
(6) Due to joint venture, all shareholders provide endorsements/guarantees to the endorsed/guaranteed company in proportion to its ownership.
(7) Joint guarantee of the performance guarantee for pre-sold home sales contract as required under the Consumer Protection Act.
Note3: (1) Global Brands Manufacture Ltd. | The limit of endorsements and guarantees for a single enterprise shall not exceed 100% of the company's net worth. The total amount of external endorsements and guarantees shall not exceed 200% of the company's net worth.
(2) Dong Guang Jin-Cheng Electronics Technology CO., Ltd | The limit of endorsements and guarantees for a single enterprise shall not exceed 50% of the company's net worth. The total amount of external endorsements and guarantees shall not exceed 50% of the company's net worth. If the endorsements and guarantees are engaged in due to business relations, they shall not exceed the total amount of transactions with the company in the past year (the higher of the purchase or sales amount between the two parties), so the current period is not exceeded.
Note 4: The balance refers to the amount of guarantee agreed between the company and the bank upon the resolution of the board of directors.
Note 5: Y is required only for those who are endorsers and guarantors of listed parent company to subsidiaries, those who are endorsers and guarantors of listed parent company to subsidiaries, and those who are endorsers and guarantors of mainland China.
Note 6: The company was originally named ELNA Pcb (M) Sdn. Bhd. and was renamed Linotech Circuit Malaysia Sdn. Bhd. in October 2025.
Note 7: The company was originally named ELNA Printed Circuits Co., Ltd. and was renamed Linotech EPC Co., Ltd. in January 2026.

Table 7

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

MARKETABLE SECURITIES HELD

DECEMBER 31, 2025

(In Thousands of New Taiwan Dollars)

Holding company Name	Type and Name of Marketable Securities (Note 1)	Relationship with the Holding Company	Financial Statement Account	December 31, 2025
				Number of Shares	Carrying Amount (Foreign Currencies in Thousands)	Percentage of Ownership (%)	Fair Value (Foreign Currencies in Thousands)
Global Brands	Stock
Manufacture Ltd.	Tsai Yi Corporation.	Other related parties	Financial assets at FVTOCI	10,023,932	$ 230,851	6.83	$ 230,851
	Walsin Technology Corp.	Affiliated Enterprises	n	21,201,481	2,480,573	4.37	2,480,573

Note 1 : The term "securities" in this Table refers to stocks, bonds, beneficiary certificates and securities derived from the above items within the scope of IFRS 9 financial instruments.
Note 2 : Securities disclosed herein are those determined by the Company to be material, based on the principle of materiality.
Note 3 : Please refer to Tables 4 $\times$ 10 and 11 for information about investment in subsidiaries and related enterprises.

84 -

Table 8

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

TOTAL PURCHASES FROM OR SALES TO RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID-IN CAPITAL

FOR THE YEAR ENDED DECEMBER 31, 2025

(In Thousands of New Taiwan Dollars)

Buyer	Related Party	Relationship	Transaction Details				Abnormal Transaction		Notes / Accounts Receivable (Payable)
			Purchase/Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Ending Balance	% of Total
Global Brands Manufacture Ltd.	Global Brands Manufacture (Dongguan) Ltd.	Subsidiary	Purchase	$ 399,286	3	60~150 days	-	-	($ 467,625)	( 12 )
n	Chuan Yi Computer (Shenzhen) Co., Ltd.	n	Purchase	3,436,417	26	60~120 days	-	-	( 775,074 )	( 19 )
n	Chuan Yi Computer (Chongqing) Co., Ltd	n	Purchase	5,402,258	41	60~150 days	-	-	( 1,654,487 )	( 41 )
n	Dong Guang CMK Global Brands Manufacture Ltd.	n	Purchase	1,046,548	8	60~120 days	-	-	( 642,898 )	( 16 )
n	GBM ELECTRONICS (M) SDN. BHD.	n	Purchase	607,854	5	60~120 days	-	-	( 161,865 )	( 4 )
n	Kunshan Yuansong Electronics Technology CO., Ltd.	n	Purchase	650,224	5	60~120 days	-	-	( 120,531 )	( 3 )
n	n	n	Sale	( 1,671,376 )	( 11 )	60~120 days	-	-	202,251	5
Chuan Yi Computer (Shenzhen) Co., Ltd.	Dong Guang CMK Global Brands Manufacture Ltd.	Brother company	Purchase	367,065	-	60~120 days	-	-	( 111,047 )	( 14 )
Chuan Yi Computer (Chongqing) Co., Ltd.	Ever-Precise recycle company	Brother company	Purchase	104,542	3	60~120 days	-	-	( 52,944 )	( 4 )
Lincstech Co., Ltd.	Lincstech America Inc.	Brother company	Sale	( 666,117 )	( 19 )	150 days	-	-	319,522	36
n	n	n	Purchase	108,365	-	150 days	-	-	( 34,693 )	-
Lincstech Circuit Singapore Pte. Ltd.	Lincstech America Inc.	Brother company	Sale	( 312,554 )	( 4 )	90 days	-	-	88,242	5
Lincstech Circuit Singapore Pte. Ltd.	Lincstech Co., Ltd.	Brother company	Sale	( 296,240 )	( 4 )	90 days	-	-	25,869	1

85 -

Table 9

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

RECEIVABLES FROM RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID-IN CAPITAL DECEMBER 31, 2025

(In Thousands of New Taiwan Dollars / In Foreign currency)

Company Name	Related Party	Relationship	Ending Balance	Turnover Rate	Overdue		Amounts Receivable in Subsequent Period	Allowance for Impairment Loss
					Amount	Actions taken
HannStar Board Tech. (Jiangyin) Corp	HannStar Board Corp.	Parent company	$ 1,816,927	2.36	$ -	-	$ 722,439	$ -
Global Brands Manufacture Ltd.	Kunshan Yuansong Electronics Technology Co., Ltd.	Subsidiary	USD 57,808,674	9.58	-	-	USD 22,985,666	-
n	Lincstech Circuit Malaysia Sdn. Bhd. (Note2)	Subsidiary	USD 202,251	9.58	-	-	USD 202,251	-
Up First Investments Ltd.	Lincstech YGA Co., Ltd.	Brother company	USD 6,434,981	-	-	-	USD 6,434,981	-
n	CMK Global Brands Manufacture Ltd	n	JPY 2,157,598,750 (Note 1)	-	-	-	-	-
n	Lincstech Circuit Malaysia Sdn. Bhd. (Note2)	n	JPY 590,447	-	-	-	-	-
n	Cheng Cheng Enterprise Co., Ltd.	n	USD 18,786,100 (Note 1)	-	-	-	-	-
Success Ocean Investments Ltd.	Up First Investments Ltd.	Brother company	USD 297,831	-	-	-	-	-
Global Brands Manufacture (Dongguan) Ltd.	Global Brands Manufacture Ltd.	Parent company	USD 467,625	2.53	-	-	USD 122,454	-
Dong Guan Xiangcheng Electronic Technology Co., Ltd.	Global Brands Manufacture (Dongguan) Ltd.	Brother company	USD 14,878,304	-	-	-	USD 3,896,097	-
Dong Guang Jin Cheng Electronics Technology Co., Ltd.	Global Brands Manufacture (Dongguan) Ltd.	Brother company	RMB 133,141,500 (Note 1)	-	-	-	-	-
Dong Guang Yao Cheng Electronics Technology Co., Ltd.	Global Brands Manufacture (Dongguan) Ltd.	Brother company	USD 183,162	-	-	-	-	-
Dong Guang Yao Cheng Electronics Technology CO., Ltd.	Global Brands Manufacture (Dongguan) Ltd.	Brother company	USD 5,827,605 (Note 1)	-	-	-	-	-
Dong Guang CMK Global Brands Manufacture Ltd.	Global Brands Manufacture Ltd.	Parent company	USD 642,898	1.68	-	-	USD 183,401	-
n	Chuan Yi Computer (Shenzhen) Co., Ltd.	Brother company	USD 20,454,918	3.60	-	-	USD 5,835,213	-
n	Chuan Yi Computer (Shenzhen) Co., Ltd.	Brother company	USD 111,047	3.60	-	-	USD 35,387	-
n	Chuan Yi Computer (Shenzhen) Co., Ltd.	Parent company	USD 3,533,168	4.00	-	-	USD 1,125,900	-
Chuan Yi Computer (Chongqing) Co., Ltd.	Global Brands Manufacture Ltd.	Parent company	USD 775,074	4.00	-	-	USD 125,720	-
Kunshan Yuansong Electronics Technology CO., Ltd.	Global Brands Manufacture Ltd.	Parent company	USD 1,654,487	3.52	-	-	USD 4,000,000	-
n	Global Brands Manufacture Ltd.	Parent company	USD 52,640,383	6.94	-	-	USD 428,348	-

Company Name	Related Party	Relationship	Ending Balance	Turnover Rate	Overdue
					Amount	Actions taken
Dynamic Skyline Ltd.	Lincstech Circuit Malaysia Sdn. Bhd.(Note 2)	Brother company	$ 1,162,910
USD 37,000,000
(Note 1)	-	-	-	$	-
»	Up First Investments Ltd.	»	848,830
USD 27,007,000
(Note 1)	-	-	-	-	-
GBM ELECTRONICS (M) SDN. BHD.	Global Brands Manufacture Ltd.	Parent company	161,865
MYR 20,797,201	5.45	-	-	61,182
MYR 7,860,953	-
»	Lincstech Circuit Malaysia Sdn. Bhd.(Note 2)	Brother company	224,711
MYR 28,871,979
(Note 1)	-	-	-	-	-
Lincstech Co., Ltd.	Lincstech America Inc.	Brother company	319,522
JPY 1,591,244,161	3.12	-	-	123,815
JPY 616,609,686	-
Lincstech Circuit Singapore Pte. Ltd.	Lincstech Co., Ltd.	Brother company	613,152
USD 19,508,507
(Note 1)	-	-	-	-	-

Note 1 : Presented under Other receivables - related parties

(Concluded)

Note 2 : The company was formerly known as ELNA Pcb (M) Sdn. Bhd. and was renamed Lincstech Circuit Malaysia Sdn. Bhd. in October 2025.

Table 10

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

INFORMATION ON INVESTMENTS IN MAINLAND CHINA FOR THE YEAR ENDED DECEMBER 31, 2025 (In Thousands of New Taiwan Dollars / In Foreign currency)

Name of mainland invested company, main business items, paid in capital, investment mode, and fund transfer in and out, shareholding ratio, and investment profit and loss, book value of investment and profit and loss of returned Investment:

Investee Company	Main Business and Products	Paid-in Capital	Method of Investment	Accumulated Outward Remittance for Investment from Taiwan as of January 1, 2025	Remittance of Funds		Accumulated Outward Remittance for Investment from Taiwan as of December 31, 2025	Net Income (Loss) of the Investee	% Ownership of Direct or Indirect Investment	Investment Gain (Loss) (Note 3)	Carrying Amount as of December 31, 2025	Accumulated Repatriation of Investment Income as of December 31, 2025
					Outward	Inward
HannStar Board Tech. (Jiangyin) Corp.	PCB production and sales service	$ 8,925,177 USD 283,970,000 (Note 1)	Indirect investment in China through HannStar Board (BVI) Holdings Corp. of a third area British Virgin Islands.	$ - USD -	$ - USD -	$ - USD -	$ - USD -	$ 1,732,347 USD 55,579,963	100	$ 1,732,347 USD 55,579,963	$ 17,558,496 USD558,654,033	$ 2,241,272 USD 71,309,964
GHPW Enterprise Corporation (CQ) Ltd.	Enterprise real estate management	754,320 USD 24,000,000 (Note 2)	- USD -	- USD -	- USD -	- USD -	- USD -	( 12,795) (USD 413,629)	15	( 1,919) (USD 62,044)	92,353 USD 2,938,369	- USD -

Note 1: Including US$109,000 thousand of surplus transferred capital increase and US$122,970 thousand of cash increase through third region business.
Note 2: Including US $24,000 thousand of cash capital increase through third region businesses.
Note 3: It is based on the financial statements of the invested company audited or reviewed by the accountant of the Taiwan parent company.
Note 4: December 31, 2025 exchange rate at USD : NTD=1 : 31.43

Investment limit in mainland China:

Accumulated Outward Remittance for Investments in Mainland China as of December 31, 2025	Investment Amount Authorized by the Investment Commission, MOEA (Note 5)	Upper Limit on the Amount of Investments Stipulated by the Investment Commission, MOEA
-	USD303,017,037 (NT$ 9,523,825 thousand)	Note 6

Note 5: This amount includes surplus to capital increase and surplus repatriation.
Note 6: In accordance with Article 3 of the principles for the examination of investment or technical cooperation in mainland China, issued by the Industrial Bureau of the Ministry of Economic Affairs, enterprises within the scope of operation of the headquarters are excluded.

This company is an enterprise which has obtained the aforementioned operating headquarters, so it is applicable for unlimited amount.

Major transactions with mainland invested companies directly or indirectly through third region enterprises: please refer to Note 34 and Table 12 for details.
Financing with mainland investee companies directly or indirectly through third region enterprises: none.
The situation of endorsements, guarantees or collateral provided directly or indirectly by the mainland invested company through a third regional enterprise: none.

Table 11

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

INFORMATION ON INVESTMENTS IN MAINLAND CHINA

FOR THE YEAR ENDED DECEMBER 31, 2025

(In Thousands of New Taiwan Dollars / In Foreign currency)

Name of mainland invested company, main business items, paid in capital, investment mode, fund transfer in and out, shareholding ratio, investment profit and loss, book value of investment and profit and loss of returned investment

Investee Company	Main Business and Products	Paid-in Capital	Method of Investment	Accumulated Outward Remittance for Investment from Taiwan as of January 1, 2025	Remittance of Funds		Accumulated Outward Remittance for Investment from Taiwan as of December 31, 2025	Net Income (Loss) of the Investee	% Ownership of Direct or Indirect Investment	Investment Gain (Loss) (Note 1)	Carrying Amount as of December 31, 2025	Accumulated Repatriation of Investment Income as of December 31, 2025
					Outward	Inward
Chuan Yi Computer (Shenzhen) Co., Ltd.	PCB production and sales service	USD 43,210,000	Indirect investment in the mainland through the third region British Virgin Islands Up First Investments Ltd.	$ 910,819	$	$ -	$ 910,819	$ 323,689 USD 10,381,294	100%	$ 323,689 USD 10,381,294	$ 3,019,824 USD 121,534,342	$ -
Yi-Kuan Electronics (Shenzhen) Co., Ltd.	PCB sales service	HKD 52,000,000	#	186,434		-	186,434	3,623 USD 116,181	100%	3,623 USD 116,181	285,551 USD 9,085,305	-
Chuan Yi Computer (Chongqing) Co., Ltd	PCB production and sales service	USD 47,000,000	#	1,410,198		-	1,410,198	617,107 USD 19,791,763	100%	617,107 USD 19,791,763	4,381,714 USD 139,411,820	-
Jingcheng Yuanmao Electronics Technology (Chongqing) Co., Ltd.	Property management	USD 12,000,000	#	376,540		-	376,540	(USD 547,841)	100%	(USD 547,841)	163,510 USD 5,202,351	-
Ever-Precise Recycle Company	Waste recycling and wastewater treatment trafficking	USD 2,100,000	#	43,190		-	43,190	41,586 USD 1,333,754	100%	41,586 USD 1,333,754	183,689 USD 5,844,377	-
GHPW Enterprise Corporation (CQ) Ltd.	Enterprise real estate management	USD 24,000,000	Indirect investment in the mainland through third region Hong Kong GBM UP (HK) LTD.	216,694		-	216,694	(USD 413,629)	30%	(USD 124,089)	184,706 USD 5,876,737	-
Kunshan Yuansong Electronics Technology Co., Ltd	PCB assembly sales service	USD 25,000,000	Reinvest in mainland companies through third region Hong Kong Will Grow Holdings Ltd.	314,776		-	314,776	453,470 USD 14,543,629	100%	453,470 USD 14,543,629	2,931,867 USD 93,282,439	-
Dong Guan Xiangcheng Electronic Technology Co., Ltd.	Industrial plant rental and Property management	USD 34,300,000	Reinvest in mainland companies through third region Hong Kong Always Up Investments Ltd.	582,298		-	582,298	44,246 USD 1,419,055	100%	44,246 USD 1,419,055	908,571 USD 28,907,757	-
Kunshan Yuanmao Electronic Technology Co., Ltd.	PCB sales service	USD 65,000,000	Reinvest in mainland companies through third region Hong Kong Forever Line Ltd.	1,792,238		473,033 USD15,000,000	1,319,205	223,169 USD 7,157,428	100%	223,169 USD 7,157,428	196,759 USD 6,260,233	-
Dong Guang Jin Cheng Electronics Technology Co., Ltd.	Property management	USD 5,200,000	Indirect investment in the mainland through third region Hong Kong Total Rich Holdings Ltd.			-		50,847 USD 1,630,754	100%	50,847 USD 1,630,754	300,932 USD 9,574,661	-
Dong Guang Yao Cheng Electronics Technology CO., Ltd.	Property management	USD 1,500,000	Indirect investment in the mainland through the third region Hong Kong Up Ever Holdings Ltd.			-		38,082 USD 1,221,352	100%	38,082 USD 1,221,352	206,800 USD 6,579,698	-
Kunshan Xiongqiang Electronics Technology Co., Ltd.	Property management	USD 5,700,000	Indirect investment in the mainland through the third region British Virgin Islands Effort Growth Developments Ltd.	235,060		-	235,060	93,290 USD 2,991,978	100%	93,290 USD 2,991,978	(USD 693,156)	-
Global Brands Manufacture (Dongguan) Ltd.	PCB assembly sales service	USD 68,000,000	Indirect investment in the mainland through the third region British Virgin Islands Dynamic Skyline Ltd.			-		125,328 USD 4,019,491	100%	125,328 USD 4,019,491	2,496,468 USD 79,429,453	-
Jingjia Electronics Technology (Wuhu) Co., Ltd.	Industrial plant rental	USD 19,500,000	#	592,664		-	592,664	5,312 USD 170,364	100%	5,312 USD 170,364	491,550 USD 15,639,504	-
Dong Guang CMK Global Brands Manufacture Ltd.	PCB production and sales service	USD 14,219,970	Indirect investment in the mainland through the third region British Virgin Islands CMK Global Brands Manufacture Ltd.			-		48,092 USD 1,542,408	86%	41,359 USD 1,326,471	972,104 USD 30,929,187	-

(Continued)

Investment limit in mainland China:

Accumulated Outward Remittance for Investments in Mainland China as of December 31, 2025	Investment Amount Authorized by the Investment Commission, MOEA	Upper Limit on the Amount of Investments Stipulated by the Investment Commission, MOEA
$6,239,628
(Note 8)	USD 345,961,600
HKD 30,000,001
(Note 8)	(Note 4)

Note 1: The investment gain (loss) are based on the financial statements reviewed by the accountant.
Note 2: December 31, 2025 exchange rate at USD : NTD=1 : 31.43

For the year ended December 31, 2025 average exchange rate at USD : NTD=1 : 31.18

Note 3: Global Brands Manufacture Ltd.'s original investment in Xinyuan Technology Enterprise (Sichuan) Co., Ltd. was NT$51,750 thousand. It was sold to non-related parties in July 2003 and was approved for cancellation by the Ministry of Economic Affairs on December 30, 2003. The original share capital is remitted back to Taiwan, and after being submitted to the Investment Review Board of the Ministry of Economic Affairs for reference, it is necessary to offset the mainland investment quota.

Note 4: According to the provisions of Article 3 of the "Principles for Investment or Technical Cooperation in Mainland China", enterprises approved by the Industrial Bureau of the Ministry of Economic Affairs that meet the scope of operation of the headquarters are not subject to the upper limit. The company is an enterprise that has obtained an operating headquarters, so there is no such limit.

Note 5: Major transactions with mainland invested companies directly or indirectly through enterprises in the third region: please refer to Note 34 and Table 12 for details.

Note 6: Financing with mainland investee companies directly or indirectly through third region enterprises: please refer to Table 5 for details.

Note 7: Endorsements, guarantees or collateral provided directly or indirectly by mainland invested companies through third regional enterprises: please refer to Table 6 for details.

Note 8: As of the approval date of this consolidated financial report, the capital reduction and return of capital by Kunshan Yuanmao Electronics Technology Co., Ltd. has not yet completed the filing process with Investment Commission of the MOEA.

(Concluded)

Table 12

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

INTERCOMPANY RELATIONSHIPS AND SIGNIFICANT INTERCOMPANY TRANSACTIONS

FOR THE YEAR ENDED DECEMBER 31, 2025

(In Thousands of New Taiwan Dollars)

No. (Note 1)	Investee Company	Counterparty	Relationship (Note 2)	Transaction Details
				Financial Statement Accounts	Amount	Payment Terms	% of Total Sales or Assets (Note 3)
0	HannStar Board Corp.	HannStar Board Tech. (Jiangyin) Corp.	Parent company to subsidiary company	Account receivable - related party	$ 148,674	No significant difference with non-related parties	-
〃	〃	〃	〃	Accounts payable-Related party	1,816,927	〃	2
〃	〃	〃	〃	Sales revenue	266,886	〃	1
〃	〃	〃	〃	Cost of goods sold	3,932,828	〃	9
1	Global Brands Manufacture Ltd	GBM ELECTRONICS (M) SDN.BHD.	Subsidiary to subsidiary	Cost of goods sold	607,854	Agreed gross margin based on cost plus	2
〃	〃	〃	〃	Accounts payable-Related parties	161,865	No significant difference with non-related parties	-
〃	〃	Global Brands Manufacture (Dongguan) Ltd.	〃	Cost of goods sold	1,075,016	Agreed gross margin based on cost plus	3
〃	〃	〃	〃	Accounts payable-Related parties	467,625	No significant difference with non-related parties	1
〃	〃	Chuan Yi Computer (Shenzhen) Co., Ltd.	〃	Cost of goods sold	3,436,417	Agreed gross margin based on cost plus	10
〃	〃	〃	〃	Accounts payable-Related parties	775,074	No significant difference with non-related parties	1
〃	〃	Chuan Yi Computer (Chongqing) Co., Ltd	〃	Cost of goods sold	5,402,258	Agreed gross margin based on cost plus	16
〃	〃	〃	〃	Accounts payable-Related parties	1,654,487	No significant difference with non-related parties	3
〃	〃	Dong Guang CMK Global Brands Manufacture Ltd.	〃	Cost of goods sold	1,046,548	Agreed gross margin based on cost plus	3

(Continued)

| No.
(Note 1) | Investee Company | Counterparty | Relationship
(Note 2) | Transaction Details | | | |
| --- | --- | --- | --- | --- | --- | --- | --- |
| | | | | Financial Statement Accounts | Amount | Payment Terms | % of Total Sales or Assets (Note 3) |
| 1 | Global Brands Manufacture Ltd | Dong Guang CMK Global Brands Manufacture Ltd. | Subsidiary to subsidiary | Accounts payable-Related parties | $ 642,898 | No significant difference with non-related parties | 1 |
| 〃 | 〃 | Lincstech Circuit Malaysia Sdn. Bhd. (Note 5) | 〃 | Other receivables - related parties | 433,246 | 〃 | 1 |
| 〃 | 〃 | Kunshan Yuansong Electronics Technology Co., Ltd | 〃 | Cost of goods sold | 650,224 | Agreed gross margin based on cost plus | 2 |
| 〃 | 〃 | 〃 | 〃 | Sales revenue | 1,671,376 | 〃 | 5 |
| 〃 | 〃 | 〃 | 〃 | Accounts payable-Related parties | 120,531 | No significant difference with non-related parties | - |
| 〃 | 〃 | 〃 | 〃 | Account receivable - related parties | 202,251 | 〃 | - |
| 2 | Up First Investments Ltd. | Lincstech YGA Co., Ltd. | 〃 | Other receivables - related parties | 401,600 | 〃 | 1 |
| 〃 | 〃 | CMK Global Brands Manufacture Ltd. | 〃 | Other receivables - related parties | 590,447 | 〃 | 1 |
| 〃 | 〃 | Lincstech Circuit Malaysia Sdn. Bhd. (Note 5) | 〃 | Other receivables - related parties | 2,825,557 | 〃 | 5 |
| 〃 | 〃 | Cheng Cheng Enterprise Co., Ltd. | 〃 | Other receivables - related parties | 215,037 | 〃 | - |
| 3 | Chuan Yi Computer (Shenzhen) Co., Ltd. | Kunshan Xiongqiang Electronics Technology Co., Ltd. | 〃 | Other receivables - related parties | 53,952 | 〃 | - |
| 〃 | 〃 | Dong Guang CMK Global Brands Manufacture Ltd. | 〃 | Cost of goods sold | 367,065 | Agreed gross margin based on cost plus | 1 |
| 〃 | 〃 | 〃 | 〃 | Accounts payable-Related parties | 111,047 | No significant difference with non-related parties | - |
| 4 | Chuan Yi Computer (Chongqing) Co., Ltd. | Ever-Precise Recycle Company | 〃 | Cost of goods sold | 104,542 | Agreed gross margin based on cost plus | - |
| 〃 | 〃 | 〃 | 〃 | Accounts payable-Related parties | 52,944 | No significant difference with non-related parties | - |
| 5 | Dong Guan Xiangcheng Electronic Technology Co., Ltd. | Global Brands Manufacture (Dongguan) Ltd. | 〃 | Other receivables - related parties | 598,601 | 〃 | 1 |

(Continued)

No. (Note 1)	Investee Company	Counterparty	Relationship (Note 2)	Transaction Details
				Financial Statement Accounts	Amount	Payment Terms	% of Total Sales or Assets (Note 3)
6	Dong Guang Jin Cheng Electronics Technology Co., Ltd.	Global Brands Manufacture (Dongguan) Ltd.	Subsidiary to subsidiary	Other receivables - related parties	$ 183,162	No significant difference with non-related parties	-
7	Dong Guang Yao Cheng Electronics Technology Co., Ltd.	Global Brands Manufacture (Dongguan) Ltd.	n	Other receivables - related parties	149,812	n	-
8	Dynamic Skyline Ltd.	Lincstech Circuit Malaysia Sdn. Bhd. (Note 5)	n	Other receivables - related parties	1,162,910	n	2
n	n	Up First Investments Ltd.		Other receivables - related parties	848,830	n	1
9	Success Ocean Investments Ltd.	Up First Investments Ltd.	n	Other receivables - related parties	297,831		-
10	GBM Electronics (M) SDN. BHD.	Lincstech Circuit Malaysia Sdn. Bhd. (Note 5)	n	Other receivables - related parties	224,711	n	-
11	Lincstech Co., Ltd.	Lincstech America Inc.	n	Sales revenue	666,117	Agreed gross margin based on cost plus	2
n	n	n	n	Account receivable - related parties	319,522	No significant difference with non-related parties	1
n	n	n	n	Cost of goods sold	108,365	Agreed gross margin based on cost plus	-
n	n	n	n	Accounts payable-Related parties	34,693	No significant difference with non-related parties	-
12	Lincstech Circuit Singapore Pte. Ltd	Lincstech America Inc.	n	Sales revenue	312,554	Agreed gross margin based on cost plus	1
n	n	n	n	Account receivable - related parties	88,242	No significant difference with non-related parties	-
n	n	Lincstech Co., Ltd.	n	Sales revenue	296,240	Agreed gross margin based on cost plus	1
n	n	n	n	Account receivable - related parties	25,869	No significant difference with non-related parties	-
n	n	n	n	Other receivables - related parties	613,152	n	1

Note 1 : The business information between the parent company and the subsidiary company shall be indicated in the number column respectively, and the number shall be filled in as follows:
(1) Fill in 0 for parent company.

(Concluded)

(2) Subsidiaries are numbered in sequence starting with Arabic numeral 1 according to company type.

Note 2: The relationships is classified in 3 categories. :

1: Represents for the transaction from Parent company to subsidiary.
2: Represents for the transaction from Subsidiary to parent company.
3: Represents for the transactions between Subsidiaries.

Note 3: For the calculation of the ratio of the transaction amount to total consolidated revenue or total assets, for asset and liability items, the ratio is calculated based on the ending balance as a percentage of total consolidated assets; for profit or loss items, the ratio is calculated based on the accumulated amount for the period as a percentage of total consolidated revenue.

Note 4: Transactions deemed significant under this table shall be disclosed by the company based on the principle of materiality.

Note 5: The company was formerly known as ELNA Pcb (M) Sdn. Bhd. and was renamed Lincstech Circuit Malaysia Sdn. Bhd. in October 2025.

94 -

AI assistant

HSB — Audit Report / Information 2026

52477_rns_2026-05-13_57cf4296-3954-49b7-86f4-ff0f01716ca8.pdf

INDEPENDENT AUDITORS' REPORT

Opinion

Basis for Opinion

Key Audit Matters

The Existence of Sales Revenue

Other Matter

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

Auditors' Responsibilities for the Audit of the Consolidated Financial Statements

Notice to Readers

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

1. GENERAL INFORMATION

2. APPROVAL OF FINANCIAL STATEMENTS

3. APPLICATION OF NEW, AMENDED AND REVISED STANDARDS AND INTERPRETATIONS

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(1) Statement of compliance

(2) Basis of Preparation

(3) Classification of current and non-current assets and liabilities

A. Financial assets

a. Measurement category

(a) Financial assets at FVTPL

(b) Financial assets at amortized cost

B. Decommissioning and Restoration Obligations

(17) Revenue recognition

(18) Leases

A. The Group as lessor

B. The Group as lessee

(19) Borrowing costs

C. Current and deferred taxes

5. CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION AND UNCERTAINTY

6. CASH AND CASH EQUIVALENTS

8. FINANCIAL ASSETS AT AMORTIZED COST

11. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

12. SUBSIDIARIES

13. INVESTMENTS ACCOUNTED FOR USING EQUITY METHOD

INFO-TEK Corp.

14. PROPERTY, PLANT AND EQUIPMENT

15. LEASE AGREEMENT

16. INVESTMENT PROPERTIES

17. GOODWILL

18. INTANGIBLE ASSETS

20. BORROWINGS

(1) Short-term borrowings

(2) Long-term borrowings

A. Bank loans

23. RETIREMENT BENEFIT PLANS

24. EQUITY

(1) Ordinary shares

(2) Capital surplus

(3) Retained earnings and dividends policy

(4) Other equity items

25. OPERATING REVENUE

26. NET PROFIT FROM CONTINUING OPERATIONS

27. EMPLOYEE BENEFIT EXPENSES

28. REMUNERATION OF EMPLOYEES AND DIRECTORS

29. INCOME TAX RELATING TO CONTINUING OPERATIONS

30. EARNINGS PER SHARE

31. BUSINESS COMBINATIONS

32. CAPITAL MANAGEMENT

33. FINANCIAL INSTRUMENTS

(1) Fair value information

34. TRANSACTIONS WITH RELATED PARTIES

36. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED COMMITMENTS

37. OTHER

38. SIGNIFICANT EXCHANGE RATE INFORMATION OF FOREIGN CURRENCY FINANCIAL ASSETS AND LIABILITIES

39. SEPARATELY DISCLOSED ITEMS

40. SEGMENT INFORMATION

a. Segment revenue and results

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

MARKETABLE SECURITIES HELD

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

INFORMATION ON INVESTEES

FOR THE YEAR ENDED DECEMBER 31, 2025

HSB Audit Report / Information 2026