HannStar Board Corporation and Subsidiaries

Consolidated Financial Statements for the Nine Months Ended September 30, 2025 and 2024 and Independent Auditors’ Review Report

For the convenience of readers, the independent auditors’ review 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’ review report and consolidated financial statements shall prevail.

INDEPENDENT AUDITORS' REVIEW REPORT

To the Board of Directors and Shareholders of HannStar Board Corporation

Introduction

We have reviewed the accompanying consolidated balance sheets of HannStar Board Corporation and its subsidiaries (the "Group") as of September 30, 2025 and 2024, the related consolidated statements of comprehensive income for the three months periods and nine months periods ended September 30, 2025 and 2024, and the related consolidated statements of changes in equity, cash flows for the nine months ended September 30, 2025 and 2024 and the related notes to the consolidated financial statements, including a summary of significant accounting policies (collectively referred to as the "consolidated financial statements"). Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standards (IAS) No. 34 "Interim Financial Reporting" endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China. Our responsibility is to express a conclusion on the consolidated financial statements based on our reviews.

Scope of Review

We conducted our reviews in accordance with Standards on Review Engagements No.2410 "Review of Financial Information Performed by the Independent Auditor of the Entity". A review of consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Qualified and Unqualified Conclusion

Based on our reviews, nothing has come to our attention that caused us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects the consolidated financial position of the Group as of September 30, 2025 and 2024, and its consolidated financial performance and its consolidated cash flows for the three months periods and the nine months periods ended September 30, 2025 and 2024 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standards (IAS) No. 34 "Interim Financial Reporting" endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China.

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

Deloitte & Touche
Taipei, Taiwan
Republic of China

October 29, 2025

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS
(In Thousands of New Taiwan Dollars)
(Reviewed, Not Audited)

| | September 30, 2025
(Reviewed) | | December 31, 2024
(Audited) | | September 30, 2024
(Reviewed) | |
| --- | --- | --- | --- | --- | --- | --- |
| ASSETS | | | | | | |
| CURRENT ASSETS | | | | | | |
| Cash and cash equivalents (Note 6) | $21,867,460 | 21 | $21,158,826 | 24 | $20,919,747 | 23 |
| Financial assets at fair value through profit or loss - current (Note 7) | 689,764 | 1 | 477,897 | 1 | 387,762 | - |
| Financial assets at amortized cost-current (Note 8) | 2,441,862 | 2 | 2,921,750 | 3 | 3,077,763 | 4 |
| Notes receivable (Note 9) | 613,178 | 1 | 657,281 | 1 | 490,099 | 1 |
| Accounts receivable (Note 9) | 15,911,637 | 15 | 11,896,329 | 13 | 12,388,313 | 14 |
| Accounts receivable from related parties (Note 9 and 35) | 24,260 | - | 27,955 | - | 24,818 | - |
| Other receivables | 1,040,107 | 1 | 927,590 | 1 | 963,893 | 1 |
| Other receivables from related parties (Note 35) | 5,880 | - | 4,759 | - | 4,478 | - |
| Inventories (Note 10) | 9,946,660 | 9 | 7,604,740 | 8 | 7,627,420 | 9 |
| Non-current assets held for sale (Note 12) | - | - | - | - | 375,141 | - |
| Other current assets (Note 20) | 599,268 | - | 301,764 | - | 309,781 | - |
| Total current assets | 53,140,076 | 50 | 45,978,891 | 51 | 46,569,215 | 52 |
| NON-CURRENT ASSETS | | | | | | |
| Financial assets at fair value through profit or loss - non-current (Note 7) | 390,149 | - | 411,478 | - | 383,804 | 1 |
| Financial assets at fair value through other comprehensive income- | 8,389,564 | 8 | 7,390,884 | 8 | 8,266,224 | 9 |
| non-current (Note 11) | 14,834,406 | 14 | 14,330,152 | 16 | 13,445,482 | 15 |
| Investments accounted for using equity method (Note 14) | 4,433,448 | 4 | 4,331,997 | 5 | 4,444,772 | 5 |
| Property, plant and equipment (Note 15) | 17,047,218 | 16 | 13,364,390 | 15 | 12,780,471 | 14 |
| Right-of-use assets (Note 16) | 1,653,951 | 2 | 1,566,248 | 2 | 1,539,217 | 2 |
| Investment property (Note 17) | 627,456 | 1 | 593,189 | 1 | 602,381 | 1 |
| Goodwill (Note 18) | 4,305,961 | 4 | 707,039 | 1 | 703,122 | 1 |
| Intangible assets (Note 19) | 441,232 | 1 | 24,194 | - | 23,264 | - |
| Deferred income tax assets (Note 4) | 351,572 | - | 242,918 | - | 288,236 | - |
| Other non-current assets (Note 20) | 439,961 | - | 469,588 | 1 | 348,724 | - |
| Total non-current assets | 52,914,918 | 50 | 43,432,077 | 49 | 42,825,697 | 48 |
| TOTAL | $106,054,994 | 100 | $89,410,968 | 100 | $89,394,912 | 100 |
| LIABILITIES AND EQUITY | | | | | | |
| CURRENT LIABILITIES | | | | | | |
| Short-term borrowings (Note 21) | $24,553,541 | 23 | $17,174,806 | 19 | $18,821,388 | 21 |
| Financial liabilities at fair value through profit or loss - non-current (Note 7) | 535 | - | - | - | - | - |
| Contract liabilities-current (Note 26) | - | - | 15,781 | - | 18,540 | - |
| Notes payable | 196,142 | - | 269,485 | 1 | 241,017 | 1 |
| Accounts payable | 10,164,534 | 10 | 6,898,301 | 8 | 7,108,588 | 8 |
| Accounts payable to related parties (Note 35) | 28,955 | - | 7,823 | - | 9,521 | - |
| Other payables (Note 22) | 5,151,664 | 5 | 4,718,537 | 5 | 4,547,752 | 5 |
| Other payables to related parties (Note 22 and 35) | 17,376 | - | 6,377 | - | 5,844 | - |
| Current income tax liabilities (Note 4) | 1,163,134 | 1 | 1,138,464 | 1 | 1,118,050 | 1 |
| Lease liabilities-current (Note 16) | 258,779 | - | 215,842 | - | 196,233 | - |
| Current portion of long-term borrowing (Note 21) | 360,601 | - | 678,139 | 1 | 944,023 | 1 |
| Other current liabilities (Note 22) | 1,096,767 | 1 | 1,040,162 | 1 | 999,723 | 1 |
| Total current liabilities | 42,992,028 | 40 | 32,163,717 | 36 | 34,010,679 | 38 |
| NON-CURRENT LIABILITIES | | | | | | |
| Long-term borrowings (Note 21) | 11,806,035 | 11 | 7,971,551 | 9 | 6,991,711 | 8 |
| Deferred income tax liabilities (Note 4) | 1,114,724 | 1 | 981,885 | 1 | 755,218 | 1 |
| Lease liabilities-non-current (Note 16) | 624,865 | 1 | 463,746 | 1 | 478,234 | 1 |
| Other non-current liabilities (Note 22) | 935,492 | 1 | 414,976 | - | 319,812 | - |
| Total non-current liabilities | 14,481,116 | 14 | 9,832,158 | 11 | 8,544,975 | 10 |
| Total liabilities | 57,473,144 | 54 | 41,995,875 | 47 | 42,555,654 | 48 |
| Equity attributable to shareholders of parent share capital (note 25) | | | | | | |
| Ordinary share | 4,861,660 | 5 | 4,861,660 | 5 | 4,861,660 | 5 |
| Capital surplus | 4,536,321 | 4 | 4,290,990 | 5 | 4,292,417 | 5 |
| Retained earnings | | | | | | |
| Legal reserve | 3,110,486 | 3 | 2,808,273 | 3 | 2,808,273 | 3 |
| Special reserve | 1,009,027 | 1 | 1,009,027 | 1 | 1,009,027 | 1 |
| Unappropriated retained earnings | 17,143,214 | 16 | 16,257,556 | 18 | 15,469,922 | 18 |
| Total retained earnings | 21,262,727 | 20 | 20,074,856 | 22 | 19,287,222 | 22 |
| Other equity interest | 2,045,656 | 2 | 3,150,355 | 4 | 3,660,745 | 4 |
| Treasury shares | (66,973) | - | (182,034) | - | (182,034) | - |
| Total equity attributable to shareholders of parent | 32,639,391 | 31 | 32,195,827 | 36 | 31,920,010 | 36 |
| NON-CONTROLLING INTERESTS (Note 25) | 15,942,459 | 15 | 15,219,266 | 17 | 14,919,248 | 16 |
| Total equity | 48,581,850 | 46 | 47,415,093 | 53 | 46,839,258 | 52 |
| TOTAL | $106,054,994 | 100 | $89,410,968 | 100 | $89,394,912 | 100 |

The accompanying notes are an integral part of the consolidated financial statements.
(With Deloitte & Touche auditors' review report dated October 29, 2025)

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In Thousands of New Taiwan Dollars, Except Earnings Per Share)
(Reviewed, Not Audited)

	For The Three Months Ended September 30				For The Nine Months Ended September 30
	2025		2024		2025		2024
	Amount	%	Amount	%	Amount	%	Amount	%
OPERATION REVENUE (Note 26 and 35)	$ 15,716,142	100	$ 11,807,997	100	$ 41,848,549	100	$ 31,454,879	100
OPERATION COSTS (Note 10 + 27 + 28 and 35)	12,566,448	80	8,775,346	74	33,275,179	79	23,393,362	75
GROSS PROFIT	3,149,694	20	3,032,651	26	8,573,370	21	8,061,517	25
OPERATING EXPENSES (Note 27 + 28 and 35)
Selling expenses	362,313	2	281,554	2	946,376	2	742,296	2
Administrative expenses	995,796	7	597,130	5	2,389,251	6	1,940,626	6
Research and development expenses	132,104	1	103,155	1	363,894	1	270,058	1
Expected credit (reversal gain) loss (Note 9)	( 1,219 )	-	( 8,417 )	-	( 6,110 )	-	( 20,421 )	-
Total operating expenses	1,488,994	10	973,422	8	3,693,411	9	2,932,559	9
PROFIT FROM OPERATIONS	1,660,700	10	2,059,229	18	4,879,959	12	5,128,958	16
NON-OPERATING INCOME AND EXPENSES (Note 27 and 35)
Interest income	348,833	2	396,811	3	1,133,874	3	1,122,744	4
Other income	183,502	1	196,564	2	686,092	1	282,066	1
Other gains and losses	194,956	1	( 349,007 )	( 3 )	( 236,651 )	( 1 )	1,418	-
Finance costs	( 191,329 )	( 1 )	( 120,262 )	( 1 )	( 548,824 )	( 1 )	( 336,997 )	( 1 )
Share of profit of associates accounted for using equity method	( 77,958 )	-	( 342,099 )	( 3 )	( 483,664 )	( 1 )	( 520,270 )	( 2 )
Total non-operating income and expenses	458,004	3	( 217,993 )	( 2 )	550,827	1	548,961	2
PROFIT BEFORE INCOME TAX	2,118,704	13	1,841,236	16	5,430,786	13	5,677,919	18
INCOME TAX EXPENSE (Note 4 and 30)	( 493,012 )	( 3 )	( 534,741 )	( 5 )	( 1,698,238 )	( 4 )	( 2,071,326 )	( 7 )
NET PROFIT FOR THE PERIOD	1,625,692	10	1,306,495	11	3,732,548	9	3,606,593	11
OTHER COMPREHENSIVE INCOME
Components of other comprehensive income that will not be reclassified to profit or loss
Unrealized gains (losses) from investments in equity instruments measured at fair value through other comprehensive income (loss)	1,752,789	11	( 698,565 )	( 6 )	989,588	2	( 904,169 )	( 3 )
Share of other comprehensive income (loss) of associates accounted for using equity method	226,132	2	( 21,174 )	-	282,289	1	( 17,800 )	-
	1,978,921	13	( 719,739 )	( 6 )	1,271,877	3	( 921,969 )	( 3 )
Components of other comprehensive income that will be reclassified to profit or loss
Exchange differences on translation of financial statement of foreign operations	2,153,607	14	( 328,462 )	( 3 )	( 3,375,835 )	( 8 )	1,711,938	6
Share of other comprehensive income (loss) of associates accounted for using equity method	53,904	-	74,456	1	( 69,018 )	-	83,514	-
	2,207,511	14	( 254,006 )	( 2 )	( 3,444,853 )	( 8 )	1,795,452	6
Other comprehensive income (loss) for the year, net of income tax	4,186,432	27	( 973,745 )	( 8 )	( 2,172,976 )	( 5 )	873,483	3
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	$ 5,812,124	37	$ 332,750	3	$ 1,559,572	4	$ 4,480,076	14
NET PROFIT ATTRIBUTABLE TO:
Shareholders of parent	$ 1,088,769	7	$ 783,167	7	$ 2,380,067	6	$ 2,234,491	7
Non-controlling interests	536,923	3	523,328	4	1,352,481	3	1,372,102	4
	$ 1,625,692	10	$ 1,306,495	11	$ 3,732,548	9	$ 3,606,593	11
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO:
Shareholders of parent	$ 4,219,210	27	$ 64,326	1	$ 1,298,587	3	$ 2,680,664	8
Non-controlling interests	1,592,914	10	268,424	2	260,985	1	1,799,412	6
	$ 5,812,124	37	$ 332,750	3	$ 1,559,572	4	$ 4,480,076	14
EARNINGS PER SHARE (Note 31)
Basic	$ 2.26		$ 1.56		$ 4.93		$ 4.31
Diluted	$ 2.25		$ 1.56		$ 4.92		$ 4.30

The accompanying notes are an integral part of the consolidated financial statements.
(With Deloitte & Touche auditors' review report dated October 29, 2025)

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(In Thousands of New Taiwan Dollars)

(Reviewed, Not Audited)

	Equity Attributable to Shareholders of Parent
	Ordinary share	Capital surplus	Retained earnings			Exchange Difference on Translation of Financial Statements of Foreign Operations	Other Equity		Taxes	Total	Non-controlling interests	Total
			Legal reserve	Special reserve	Unappropriated retained earnings		Unrealized gain(loss) on financial assets measured at fair value through other comprehensive income	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	$ 44,492,569
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 nine months ended September 30,2024	-	-	-	-	2,234,491	-	-	-	-	2,234,491	1,372,102	3,606,593
Other comprehensive income(loss) for the nine months ended September 30, 2024, net of income tax	-	-	-	-	-	1,202,944	(756,771)	446,173	-	446,173	427,310	873,483
Total comprehensive income(loss) for the nine months ended September 30, 2024	-	-	-	-	2,234,491	1,202,944	(756,771)	446,173	-	2,680,664	1,799,412	4,480,076
Cash Capital Reduction	(422,753)	-	-	-	-	-	-	-	2,400	(420,353)	-	(420,353)
Subscribe for 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
Employees of subsidiary subscribe for treasury shares	-	(16,852)	-	-	-	-	-	-	-	(16,852)	142,639	125,787
Changes in non-controlling interests	-	-	-	-	-	-	-	-	-	-	(967,555)	(967,555)
Balance at September 30, 2024	$ 4,861,660	$ 4,292,417	$ 2,808,273	$ 1,009,027	$ 15,469,922	($ 330,509)	$ 3,991,254	$ 3,660,745	($ 182,034)	$ 31,920,010	$ 14,919,248	$ 46,839,258
Balance at January 1, 2025	$ 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 nine months ended September 30,2025	-	-	-	-	2,380,067	-	-	-	-	2,380,067	1,352,481	3,732,548
Other comprehensive income(loss) for the nine months ended September 30, 2025, net of income tax	-	-	-	-	-	(2,187,062)	1,105,582	(1,081,480)	-	(1,081,480)	(1,091,496)	(2,172,976)
Total comprehensive income(loss) for the nine months ended September 30, 2025	-	-	-	-	2,380,067	(2,187,062)	1,105,582	(1,081,480)	-	1,298,587	260,985	1,559,572
Subscribe for treasury shares	-	-	-	-	-	-	-	-	(167,344)	(167,344)	-	(167,344)
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
Employees subscribe for treasury shares	-	78,880	-	-	-	-	-	-	282,405	361,285	-	361,285
Disposal by the subsidiary of equity instruments measured at fair value through other comprehensive income	-	-	-	-	23,219	-	(23,219)	(23,219)	-	-	-	-
Changes in non-controlling interests	-	-	-	-	-	-	-	-	-	-	400,544	400,544
Balance at September 30, 2025	$ 4,861,660	$ 4,536,321	$ 3,110,486	$ 1,009,027	$ 17,143,214	($ 2,079,182)	$ 4,124,838	$ 2,045,656	($ 66,973)	$ 32,639,391	$ 15,942,459	$ 48,581,850

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

(With Deloitte & Touche auditors' review report dated October 29, 2025)

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)
(Reviewed, Not Audited)

	For The Nine Months Ended September 30
	2025	2024
	Amount	Amount
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before income tax	$ 5,430,786	$ 5,677,919
Adjustments for:
Depreciation expense	2,230,906	1,784,542
Amortization expense	49,769	6,718
Expected credit profit recognized on receivables	( 6,110 )	( 20,421 )
Net gain on financial assets or liabilities at fair value through profit or loss	( 94,502 )	( 50,549 )
Finance costs	548,824	336,997
Interest income	( 1,133,874 )	( 1,122,744 )
Dividend income	( 198,833 )	( 128,093 )
Share-based payment	246,920	116,387
Share of loss of associates accounted for using equity method	483,664	520,270
Loss on disposal of property, plant and equipment	19,308	24,899
Loss (gain) on disposal of invest	4,660	( 365 )
Asset impairment reversal gain	( 8,265 )	-
Impairment loss (gain) on inventories	107,616	( 110,390 )
Changes in operating assets and liabilities
Financial assets at fair value through profit or loss, mandatorily measured at fair value	290,618	( 63,349 )
Notes receivable	92,541	96,995
Notes receivable from related parties	-	1,013
Accounts receivable	( 1,030,499 )	( 1,487,711 )
Accounts receivable from related parties	12,111	4,360
Other receivable	( 156,518 )	81,665
Other receivable from related parties	( 1,121 )	5,520
Inventories	( 525,374 )	( 368,303 )
Other current assets	( 130,439 )	( 92,014 )
Other non-current assets	( 25,971 )	( 172,693 )
Contract liabilities	( 15,781 )	10,701
Notes payable	( 73,343 )	( 95,109 )
Accounts payable	1,308,671	1,260,800
Accounts payable to related parties	21,132	( 1,714 )
Other payable	( 559,107 )	84,948
Other payable to related parties	10,999	51
Other current liabilities	49,009	91,401
Other non-current liabilities	( 85,922 )	( 528 )
Cash generated from operations	6,861,875	6,391,203
Interest received	1,167,129	963,690
Interest paid	( 533,709 )	( 311,372 )
Income tax paid	( 2,034,986 )	( 2,506,102 )
Net cash generated from operating activities	5,460,309	4,537,419

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)
(Reviewed, Not Audited)

	For The Nine Months Ended September 30
	2025	2024
	Amount	Amount
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of financial assets at fair value through other comprehensive income	($ 427,312)	($ 1,590,962)
Disposal of financial assets at fair value through other comprehensive income	392,434	-
Received capital decreased from sale of financial assets value through other comprehensive income	7,980	-
Acquisition of financial assets at amortized cost	( 3,478,742)	( 5,275,977)
Proceeds from disposal of financial assets at amortized cost	2,385,434	2,515,937
Purchase of financial assets at fair value through profit or loss	( 1,377,318)	( 263,195)
Proceeds from disposal of financial assets at fair value through profit or loss	962,542	250,496
Purchase of investments accounted for using equity method	( 371,130)	( 855,751)
Acquisition of subsidiaries (Note 32)	( 4,878,143)	-
Acquisition of property, plant and equipment	( 2,047,852)	( 2,708,350)
Proceeds from disposal of property, plant and equipment	8,347	125,242
Decrease in refundable deposits	8,739	5,254
Acquisition of intangible assets	( 8,599)	( 12,479)
Increase in other non-current assets	( 339,366)	( 202,447)
Dividends received	242,085	187,980
Net cash used in investing activities	( 8,920,901)	( 7,824,252)
CASH FLOWS FROM FINANCING ACTIVITIES
Short-term borrowings	7,225,036	6,745,489
Proceeds from long-term borrowings	8,023,420	7,610,533
Repayments of long-term borrowings	( 8,727,626)	( 7,325,000)
Decrease in guarantee deposits received	( 65,382)	( 34,786)
Repayments of the principle of lease liabilities	( 194,148)	( 149,525)
Cash dividends paid	( 1,215,415)	( 845,506)
Payments for purchase of treasury stock	( 167,344)	( 184,434)
Treasury stock transferred to employees	281,582	-
Payments of subsidiaries purchase of treasury shares	( 275,004)	-
Treasury stock transferred to employees of subsidiary	291,936	125,787
Changes in non-controlling interests	400,544	( 967,555)
Net cash flows used in financing activities	5,577,599	4,975,003
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	( 1,408,373)	539,028
NET INCREASE IN CASH AND CASH EQUIVALENTS	708,634	2,227,198
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	21,158,826	18,692,549
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	$ 21,867,460	$ 20,919,747

The accompanying notes are an integral part of the consolidated financial statements.
(With Deloitte & Touche auditors' review report dated October 29, 2025)

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

NOTES TO FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025 AND 2024

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

(Reviewed, Not Audited)

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 October 29, 2025.

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 Accounting Standards") 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.

(3) 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”	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:

Items of income and expenses included in the statement of profit or loss shall be classified into the operating, investing, financing, income taxes 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 in public communications outside financial statements and communicating to users of financial statements management’s view of an aspect of the financial performance of the Corporation and its subsidiaries as a whole, the Corporation and its subsidiaries shall disclose related information about its MPMs in a single note to the financial statements, including the description of such measures, calculations, reconciliations to the subtotal or total specified by IFRS Accounting Standards and the income tax and non-controlling interests effects of related reconciliation items.

Except for the above impact, as of the date the consolidated financial statements were authorized for issue, the Group is continuously assessing the possible impact of the application of other standards and interpretations on the Group’s financial position and financial performance and will disclose the relevant impact when the assessment is completed.

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4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(1) Statement of compliance

These interim consolidated financial statements have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and IAS 34 "Interim Financial Reporting" as endorsed and issued into effect by the FSC. Disclosure information included in these interim consolidated financial statements is less than the disclosure information required in a complete set of annual consolidated financial statements.

(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) Basis of consolidation

The basis of preparation for the consolidated financial statements in this report is consistent with the one used in the consolidated financial statements for the year ended December 31, 2024.

Please refer to Note 13 and attached Table 4, 10 and 11 for detailed information on subsidiaries.

(4) Other significant accounting policies

Except for the following, please refer to the consolidated financial statements for the year ended December 31, 2024.

A. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax. Interim period income taxes are assessed on an annual basis and calculated by applying to an interim period's pre-tax income the tax rate that would be applicable to expected total annual earnings.

B. Business Combinations

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

Goodwill is measured as the excess of the total of the fair value of the consideration

transferred, the fair value of the non-controlling interest in the acquiree, and the fair value of the acquirer's previously held equity interests in the acquiree, over the fair value of the identifiable assets acquired and liabilities assumed at the acquisition date.

When the consideration transferred in a business combination includes assets or liabilities arising from contingent consideration agreements, the contingent consideration is measured at its fair value as of the acquisition date and forms part of the consideration transferred in exchange for the acquiree. Any subsequent changes in the fair value of contingent consideration that are considered adjustments during the measurement period are retrospectively adjusted to the acquisition cost and correspondingly adjust goodwill. The measurement period refers to the period following the acquisition date (not exceeding one year) during which adjustments are made based on additional information regarding facts and circumstances that existed as of the acquisition date.

C. Provisions

The amount recognized as a provision is based on the best estimate of the expenditure required to settle the obligation, considering the risks and uncertainties related to the obligation as of the balance sheet date. Provisions are measured at the present value of the estimated future cash flows required to settle the obligation.

a. Warranties

The Group's warranty obligations under sales contracts are recognized at the time revenue from the related goods is recognized, based on management's best estimate of the expenditure required to settle the obligation.

b. Decommissioning and Restoration Obligations

Under 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 at the present value of the best estimate of the future outflows of economic benefits resulting from the fulfillment of the restoration obligations under the lease agreement.

c. Defined Benefit Post-employment Benefits

Pension cost for interim periods is calculated by applying the pension cost rate determined by actuarial valuation as of the end of the prior fiscal year, based on the period from the beginning of the year to the end of the interim reporting period. Adjustments are made to reflect significant market fluctuations during the period, as well as any material plan amendments, settlements, or other significant one-off events occurring in the current period.

d. Share-based Payment Arrangements

Equity-settled Share-based Payment Arrangements Granted to Employees

Equity-settled share-based payment arrangements are measured at the fair value of the equity instruments granted on the grant date. Expense is recognized on a straight-line basis over the vesting period, based on the best estimate of the number of equity-settled share-based payment awards expected to vest, with a corresponding adjustment to capital surplus – employee stock options. If the awards are fully vested on the grant date, the entire expense is recognized on that date.

When the Group transfers treasury shares to employees, the reference date for determining the subscription price is treated as the grant date. When the Group conducts a cash capital increase with employee subscription rights, the grant date is the date on which the Board of Directors approves the issuance.

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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.

When developing significant accounting estimates, the Group considers the related impacts of relevant significant estimates. Management will continue to review these estimates and their underlying assumptions.

After evaluating the accounting policies, estimates, and underlying assumptions adopted by the Group, the management has determined that there are no significant uncertainties related to accounting judgments, estimates, or assumptions.

6. CASH AND CASH EQUIVALENTS

	September 30, 2025	December 31, 2024	September 30, 2024
Cash	$ 3,069	$ 3,164	$ 3,405
Deposits in banks	10,169,051	13,292,242	10,045,994
Cash equivalents
Time deposits with original maturities of less than 1 years	11,695,340	7,797,850	10,870,348
Repurchase Agreement	-	65,570	-
	$ 21,867,460	$ 21,158,826	$ 20,919,747

7. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS

	September 30, 2025	December 31, 2024	September 30, 2024
Financial assets at fair value through profit or loss-current
Non-derivative financial assets
— Domestic listed (OTC) stocks (1)	$ 52,200	$ 96,750	$ 86,130
— Fund beneficiary certificate (1)	175,217	380,444	281,717
Hybrid financial assets
— Structured deposits (2)	432,934	-	19,915
Derivative financial assets (no hedging specified)
— Foreign exchange swap contract (4)	29,413	703	-
	$ 689,764	$ 477,897	$ 387,762
Financial assets at fair value through profit or loss non-current
Non-derivative financial assets
— Capital bond beneficiary certificate (1)	$ 340,332	$ 361,914	$ 359,240
— Limited partnership (1)	49,817	49,564	24,564
	$ 390,149	$ 411,478	$ 383,804

Financial liabilities at fair value through profit or loss-current Derivative financial assets (no hedging specified) Foreign exchange forward contracts (3)

September 30, 2025	December 31, 2024	September 30, 2024
$ 535	$ -	$ -

(1) For the nine months ended September 30, 2025 and 2024, the net profit from the evaluation of non-derivative financial assets of the Group were NT$ 16,255 thousand and NT$ 58,581 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 nine-month period ended September 30, 2025 and 2024 were NT$ 3,083 thousand and NT$ 188 thousand respectively.

(3) For the nine months ended September 30, 2025 and 2024, the net loss of engaging forward foreign exchange by the Group were NT$ 723 thousand and NT$ 8,220 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.

September 30, 2025

	Currency	Maturity period	Contract amount (In Thousands)
Selling forward foreign exchange	US dollar to JPY	2025.10.15-2025.11.19	USD	1,216
			JPY	177,510
Selling forward foreign exchange	US dollar to CHF	2025.10.24-2025.12.16	USD	370
			CHF	294
Selling forward foreign exchange	US dollar to RMB	2025.10.29	USD	14
			RMB	99

(4) The Group's net profit from foreign exchange swaps contract for the nine-month period ended September 30, 2025 was NT$ 75,887 thousand. 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:

September 30, 2025

Currency	Maturity period	Contract amount (In Thousands)
RMB to US dollar	2025.10.29	RMB	142,510
		USD	20,000
JPY to US dollar	2025.10.15-2025.11.19	JPY	10,324,780
		USD	70,000
CHF to US dollar	2025.10.24-2025.12.16	CHF	32,104
		USD	40,000

| Currency | Maturity period | Contract amount
(In Thousands) | |
| --- | --- | --- | --- |
| HKD to US dollar | 2025.12.22-2026.01.20 | HKD | 154,839 |
| | | USD | 20,000 |
| 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

	September 30, 2025	December 31, 2024	September 30, 2024
Current
Time deposits with original maturities of more than 1 years (Maturity date with in 1 year)	$ 280,427	$ 2,042,586	$ 2,603,653
Treasury Bonds (1)	45,590	-	220,812
Corporate bonds (2)	278,967	228,716	253,298
Structured deposits (3)	-	322,315	-
Restricted bank deposits (4)	1,836,878	328,133	-
	$ 2,441,862	$ 2,921,750	$ 3,077,763
Non-current
Time deposits with original maturities of more than 1 years	$ 2,696,470	$ 3,131,248	$ 3,140,731
Treasury Bonds (1)	394,284	472,262	455,455
Corporate bonds (2)	11,743,652	10,726,642	9,849,296
	$ 14,834,406	$ 14,330,152	$ 13,445,482

(1) The Group bought 2 to 10-years treasury bonds with a coupon rate of 2.00%~5.25% and effective interest rate of 3.53%~4.50%.

(2) The Group bought 1 to 10-years corporate bonds with a coupon rate of 1.339%~8.75% and effective interest rate of 3.88%~5.90%.

(3) The ranges of interest rates for structured deposits was 1.40%~2.62% per annum as of December 31, 2024.

(4) Information on the pledged financial assets at amortized cost, please refer to note 36.

9. NOTES AND ACCOUNTS RECEIVABLE, NET

	September 30, 2025	December 31, 2024	September 30, 2024
Notes receivable
Gross carrying amount	$ 613,178	$ 657,281	$ 490,099
Accounts receivable
At amortized cost
Gross carrying amount	$ 15,981,586	$ 11,966,179	$ 12,458,663
	( 69,949 )	( 69,850 )	( 70,350 )

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	September 30, 2025	December 31, 2024	September 30, 2024
Less: Allowance for impairment loss	$ 15,911,637	$ 11,896,329	$ 12,388,313
Accounts receivable from related parties (Note 35)
At amortized cost
Gross carrying amount	$ 24,788	$ 36,899	$ 33,762
Less: Allowance for impairment loss	( 528)	( 8,944)	( 8,944)
	$ 24,260	$ 27,955	$ 24,818

(1) Notes receivable

All the notes receivable of the Group as of September 30, 2025, December 31, 2024 and September 30, 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:

September 30, 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	$ 15,039,642	$ 906,559	$ 32,109	$ 28,064	$ 16,006,374
Loss allowance (Lifetime ECLs)	-	( 48,563)	( 6,422)	( 15,492)	( 70,477)
Amortized cost	$ 15,039,642	$ 857,996	$ 25,687	$ 12,572	$ 15,935,897

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

September 30, 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	$ 11,879,556	$ 564,962	$ 15,597	$ 32,310	$ 12,492,425
Loss allowance (Lifetime ECLs)	-	( 55,393)	( 3,120)	( 20,781)	( 79,294)
Amortized cost	$ 11,879,556	$ 509,569	$ 12,477	$ 11,529	$ 12,413,131

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

	For the Nine Months Ended September 30
	2025	2024
Balance at January 1	$ 78,794	$ 116,758
Provision (reversal of profit)	(6,110)	(20,421)
Written off amounts	-	(20,633)
Acquired through a corporate merger	340	-
Foreign exchange gains and losses	(2,547)	3,590
Balance at September 30	$ 70,477	$ 79,294

INVENTORIES

	September 30, 2025	December 31, 2024	September 30, 2024
Manufacturing inventory
Raw materials	$ 2,477,729	$ 2,168,813	$ 2,323,711
Work in progress	3,393,188	1,210,748	1,073,308
Finished goods	2,735,012	2,531,416	2,345,998
Inventory in transit	11,934	66,993	150
	8,617,863	5,977,970	5,743,167
Construction inventory
Residential and commercial buildings in Chongqing
Buildings and land held for sale	1,328,797	1,626,770	1,884,253
	$ 9,946,660	$ 7,604,740	$ 7,627,420

(1) For the three months ended September 30, 2025 and 2024 and for the nine months ended September 30, 2025 and 2024, the cost of goods sold related to inventory was as follows

	For The Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024
Cost of goods sold	$12,566,448	$ 8,775,346	$33,275,179	$23,393,362

(2) For the three months ended September 30, 2025 and 2024 and for the nine months ended September 30, 2025 and 2024, the cost of goods sold including inventory write-down, inventory obsolete losses (reversal) and idle capacity loss was as follows:

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	For The Three Months Ended		For The Nine Months Ended
	September 30		September 30
	2025	2024	2025	2024
Inventory write-down and inventory obsolete losses (reversal)	($ 4,754)	($ 21,511)	$ 107,616	($ 110,390)
Idle Capacity Loss	$ 247,506	$ 255,622	$ 946,613	$ 898,595

The gain from the reversal of write-downs and obsolescence inventory is due to the increase in sales prices of the inventory in specific markets.

(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 26.

11. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

	September 30, 2025	December 31, 2024	September 30, 2024
Non-current
Domestic investment
Listed stocks
Walsin Technology Corp.	$ 6,801,654	$ 5,641,352	$ 6,324,436
Walton Advanced Engineering, Inc.	265,698	205,916	257,579
TXC Corporation	464,500	513,556	556,990
Non-listed stocks
Tsai Yi Co., Ltd.	302,331	272,455	283,319
Chin-Xin Investment Co., Ltd.	280,280	186,290	255,905
Chiang Yei Precision Industrial Co., Ltd.	-	3,847	3,847
Foreign investment
Listed stocks	266,433	567,468	584,148
Unlisted stocks	8,668	-	-
	$ 8,389,564	$ 7,390,884	$ 8,266,224

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 nine-month period ended September 30, 2025, the Group sold part of its shares in foreign list stocks for adjust investment positions to diversify risks purposes, the related unrealized valuation loss of $23,219 thousand was transferred from other equity to retained earnings.

12. NON-CURRENT ASSETS HELD FOR SALE

	September 30, 2025	December 31, 2024	September 30, 2024
Right-of-use assets held for sale	$ -	$ -	$ 64,836
Property, plant and equipment assets held for sale	-	-	310,305
	$ -	$ -	$ 375,141

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.

The Group completed the relocation of the non-current assets held for sale and handed them over to the local government in 2024. Considering the uncertainty of subsequent collections, the related compensation income, expenses, and taxes will be recognized when they actually occur. For the nine months ended September 30, 2025 the consolidated company had received compensation amounting to RMB 75,000 thousand. As of September 30, 2025, the Group had received a partial compensation amounting to RMB 90,264 thousand.

13. 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 (%)
			September 30, 2025	December 31, 2024	September 30, 2024
HannStar Board Corp.	HannStar Board (BVI) Holdings Corp.	Investment	100%	100%	100%
HannStar Board Corp.	Global Brands Manufacture Ltd.	Production, marketing & assembly of printed circuit board	40.30% (Note 9)	40.68%	40.65%
HannStar Board (BVI) Holdings Corp.	HannStar Board International Holdings Ltd.	Investment	100%	100%	100%
HannStar Board (BVI) Holdings Corp.	HannStar Board Investments (Hong Kong) Limited	Investment	100%	100%	100%
HannStar Board International Holdings Ltd.	HannStar Board (SAMOA) Holdings Corp	Investment	- (Note 4)	- (Note 4)	100% (Note 4)
HannStar Board International Holdings Ltd.	HannStar Board Holdings (Hong Kong) Ltd.	Investment	100%	100%	100%
HannStar Board Holdings (Hong Kong) Ltd.	HannStar Board Tech. (Jiangyin) Corp.	PCB production & sales	100%	100%	100%
HannStar Board Investments (Hong Kong) Limited	GHPW Enterprise Corporation (Hong Kong) Ltd.	Investment	15% (Note 1)	15% (Note 1)	15% (Note 1)
GHPW Enterprise Corporation (Hong Kong) Ltd.	GHPW Enterprise Corporation (CQ) Ltd	Enterprise real estate management	100%	100%	100%
HannStar Board Tech. (Jiangyin) Corp.	Chongqing Shuohong Investment Co., Ltd.	Investment	25.65% (Note 2)	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 5)	100% (Note 5)	100% (Note 5)
Global Brands Manufacture Ltd.	Up First Investments Ltd.	Investment	100%	100%	100%

Investor	Investee	Nature of Activities	Proportion of Ownership (%)
			September 30, 2025	December 31, 2024	September 30, 2024
Global Brands Manufacture Ltd.	Dynamic Skyline Ltd.	Investment	100%	100%	100%
Global Brands Manufacture Ltd.	Success Ocean Investments Ltd.	Investment	100%	100%	100%
Global Brands Manufacture Ltd.	Cheng Cheng Enterprise Co., Ltd.	Plant lease and property managements	100%	100%	100%
Global Brands Manufacture Ltd.	Falcon Automation Equipment Corp.	Manufacturing of machine and equipment	50.24%	50.24%	50.24%
Global Brands Manufacture Ltd.	ELNA Printed Circuits Co., Ltd.	Manufacturing and sale of PCB	100%	100%	100%
Global Brands Manufacture Ltd.	GBM Electronics (M) Sdn.Bhd.	Fabrication and sale of PCB	100% (Note 6)	100% (Note 6)	100% (Note 6)
Global Brands Manufacture Ltd.	Lincstech Co., Ltd.	Manufacturing and sale of PCB	100% (Note 8)	-	-
Up First Investments Ltd.	Chuan Yi Computer (Shenzhen) Co., Ltd.	Manufacturing and sale of PCB	100%	100%	100%
Up First Investments Ltd.	Yi-Kuan Electronics (Shenzhen) Co., Ltd.	Sale of PCB	100%	100%	100%
Up First Investments Ltd.	Forever Line Ltd.	Investment	100%	100%	100%
Up First Investments Ltd.	Chuan Yi Computer (Chongqing) Co., Ltd.	Manufacturing and sale of PCB	100%	100%	100%
Up First Investments Ltd.	Ever-Precise Recycle Company	Waste recycling and wastewater treatment	100%	100%	100%
Up First Investments Ltd.	Jincheng Yuanmao Electronic Technology (Chongqing) Co., Ltd.	Property Management	100%	100%	100%
Up First Investments Ltd.	Effort Growth Developments Ltd.	Investment	100%	100%	100%
Up First Investments Ltd.	GBM UP(HK) Ltd.	Investment	100%	100%	100%
GBM UP(HK) Ltd.	GHPW Enterprise Corporation (Hong Kong) Ltd.	Investment	30% (Note 1)	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)	12.83% (Note 2)
Effort Growth Developments Ltd.	Kunshan Xionqqiang Electronics Technology Co., Ltd.	Property Management	100%	100%	100%
Forever Line Ltd.	Kunshan Yuanmao Electronic Technology Co., Ltd.	Manufacturing and sale of PCB	100%	100%	100%
Dynamic Skyline Ltd.	Centralian Investments Limited	Investment	100%	100%	100%
Dynamic Skyline Ltd.	Will Grow Holdings Ltd.	Investment	100% (Note 7)	99.90% (Note 7)	-
Dynamic Skyline Ltd.	Total Rich Holdings Ltd.	Investment	100%	100%	100%
Dynamic Skyline Ltd.	Up Ever Holdings Ltd.	Investment	100%	100%	100%
Dynamic Skyline Ltd.	Global Brands Manufacture (Dongguan) Ltd.	Fabrication and sale of PCB	100% (Note 3)	100% (Note 3)	100% (Note 3)
Dynamic Skyline Ltd.	Dong Guang Yujia Electronics Technology Co., Ltd.	Fabrication and sale of PCB	- (Note 3)	- (Note 3)	100% (Note 3)
Dynamic Skyline Ltd.	Jingjia Electronics Technology (Wuhu) Co., Ltd.	Industrial plant lease	100%	100%	100%
Centralian Investments Limited	Will Grow Holdings Ltd.	Investment	- (Note 7)	0.10% (Note 7)	100%
Up Ever Holdings Ltd.	Dong Guang Yao Cheng Electronics Technology Co., Ltd.	Property management	100%	100%	100%
Total Rich Holdings Ltd.	Dong Guang Jin Cheng Electronics Technology Co., Ltd.	Property management	100%	100%	100%
Will Grow Holdings Ltd.	Kunshan Yuansong Electronics Technology CO., Ltd.	Fabrication and sale of PCB	100%	100%	100%
Kunshan Yuansong Electronics	Chongqing Shuohong Investment	Investment	12.83%	12.83%	12.83%

Investor	Investee	Nature of Activities	Proportion of Ownership (%)
			September 30, 2025	December 31, 2024	September 30, 2024
Technology CO., Ltd.	Co., Ltd.		(Note 2)	(Note 2)	(Note 2)
Success Ocean Investments Ltd.	CMK Global Brands Manufacture Ltd.	Investment	86%	86%	86%
Success Ocean Investments Ltd.	Always Up Investments Ltd.	Investment	100%	100%	100%
Always Up Investments Ltd.	Dong Guan Xiangcheng Electronic Technology Co., Ltd.	Industrial plant lease and property management	100%	100%	100%
CMK Global Brands Manufacture Ltd.	Dong Guang CMK Global Brands Manufacture Ltd.	Manufacturing and sale of PCB	100%	100%	100%
ELNA Printed Circuits Co., Ltd.	Lincstech Circuit Malaysia Sdn. Bhd (Note 10).	Manufacturing and sale of PCB	98.63%	98.63%	98.63%
Lincstech Co., Ltd.	Lincstech YGA Co., Ltd.	Manufacturing and sale of PCB	100% (Note 8)	-	-
Lincstech Co., Ltd.	Lincstech Circuit Singapore Pte. Ltd.	Manufacturing and sale of PCB	100% (Note 8)	-	-
Lincstech Co., Ltd.	Lincstech America Inc.	Sale of PCB	100% (Note 8)	-	-

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.
Note 4 : HannStar Board (SAMOA) Holdings Corp. completed liquidation on October 1, 2024.
Note 5 : 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 6: 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 7: 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 8: 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 32.
Note 9: 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 NTS629,192 thousand. Since the Group did not subscribe according to its shareholding ratio, its equity stake decreased to $40.30\%$ after the capital increase.

Note 10: The company was formerly known as ELNA Pcb (M) Sdn. Bhd. and was renamed to Lincstech Circuit Malaysia Sdn. Bhd. in October 2025.

Information of subsidiaries with significant non-controlling interests

Name of subsidiary	Main business places	Proportion of shares and voting rights held by non-controlling interests
		September 30, 2025	December 31, 2024	September 30, 2024
Global Brands Manufacture Ltd.	Taiwan	59.70%	59.32%	59.35%

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:

	September 30, 2025	December 31, 2024	September 30, 2024
Current assets	$ 31,018,261	$ 21,414,366	$ 21,787,610
Non-current assets	27,237,232	19,588,287	19,043,144
Current liabilities	(25,204,925)	(12,749,729)	(14,788,321)
Non-current liabilities	(8,855,953)	(5,344,861)	(3,851,126)
Equity	$ 24,194,615	$ 22,908,063	$ 22,191,307
	For The Three Months Ended September 30		For The Nine Months Ended September 30
---	---	---	---
	2025	2024	2025
Operating revenue	$ 9,570,191	$ 5,895,245	$ 24,393,164
Profit from continuing operations	$ 940,329	$ 901,835	$ 2,375,600
Net profit attributable to:
Owner of the company	$ 383,290	$ 366,653	$ 970,650
Non-controlling interests of Global Brands
Manufacture Ltd.	559,012	535,269	1,411,764
Non-controlling interests of subsidiaries of Global Brands Manufacture Ltd.	(1,973)	(87)	(6,814)
	$ 940,329	$ 901,835	$ 2,375,600

14. INVESTMENTS ACCOUNTED FOR USING EQUITY METHOD

Investments in associates	September 30, 2025	December 31, 2024	September 30, 2024
Significant influence
Career Technology (MFG.)
Co., Ltd.	$ 2,769,092	$ 2,591,974	$ 2,737,883
INFO-TEK CORPORATION	935,110	971,694	934,277
No significant influence	729,246	768,329	772,612
	$ 4,433,448	$ 4,331,997	$ 4,444,772

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

Significant affiliated enterprises

Name of Associate	Nature of activities	Principal Place of Business	Shareholding Ratio
			September 30, 2025	December 31, 2024	September 30, 2024
Career Technology (MFG.) Co., Ltd	Manufacturing of electronic components	Shulin	27.73%	25.23%	25.23%
	Manufacturing of electronic components	Hsinchu	27.55%	27.55%	27.55%

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

Name of Associate	September 30, 2025	December 31, 2024	September 30, 2024
Career Technology (MFG.) Co., Ltd.	$ 2,672,696	$ 2,286,070	$ 3,140,536
INFO-TEK Corp.	996,465	1,320,857	1,277,604
	$ 3,669,161	$ 3,606,927	$ 4,418,140

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.

15. 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	-	60,660	325,215	23,815	1,617,516	2,027,206
Disposals	-	( 29,884 )	( 695,513 )	( 57,023 )	-	( 782,420 )
Acquired through a corporate merger	267,152	3,719,626	8,458,125	479,716	335,519	13,260,138
Reclassified	-	845,545	2,681,406	94,231	( 3,254,714 )	366,468
Effects of foreign currency exchange differences	( 15,584 )	( 826,928 )	( 2,057,078 )	( 285,043 )	( 135,915 )	( 3,320,548 )
Balance at September 30, 2025	$ 645,066	$ 14,829,492	$ 33,113,924	$ 5,054,541	$ 2,057,428	$ 55,700,451
Accumulated depreciation and impairment
Balance at January 1, 2025	$ 5,604	$ 7,347,004	$ 19,290,254	$ 4,142,355	$ -	$ 30,785,217
Disposals	-	( 29,860 )	( 668,430 )	( 56,475 )	-	( 754,765 )
Depreciation expenses	-	445,493	1,383,642	169,191	-	1,998,326
Acquired through a corporate merger	132,588	1,957,847	6,623,302	433,901	-	9,147,638
Reclassified	-	( 1,903 )	16,806	( 77 )	-	14,826
Reversal of impairment loss	-	-	( 8,265 )	-	-	( 8,265 )
Effects of foreign currency exchange differences	( 13,537 )	( 600,913 )	( 1,664,105 )	( 251,189 )	-	( 2,529,744 )
Balance at September 30, 2025	$ 124,655	$ 9,117,668	$ 24,973,204	$ 4,437,706	$ -	$ 38,653,233
Carrying amount at January 1, 2025	$ 387,894	$ 3,713,469	$ 5,111,515	$ 656,490	$ 3,495,022	$ 13,364,390
Carrying amount at September 30, 2025	$ 520,411	$ 5,711,824	$ 8,140,720	$ 616,835	$ 2,057,428	$ 17,047,218

23 -

	Land	Buildings	Machinery and equipment	Other equipment	Construction in progress	Total
Cost
Balance at January 1, 2024	$ 395,697	$ 10,390,810	$ 23,093,787	$ 4,555,375	$ 594,399	$ 39,030,068
Additions	-	42,165	176,782	46,279	2,723,689	2,988,915
Disposals	-	( 17,188 )	( 1,029,956 )	( 50,983 )	-	( 1,098,127 )
Reclassified	-	75,824	725,070	50,658	( 469,318 )	382,234
Effects of foreign currency exchange differences	1,536	417,499	968,937	200,663	277,354	1,865,989
Balance at September 30, 2024	$ 397,233	$ 10,909,110	$ 23,934,620	$ 4,801,992	$ 3,126,124	$ 43,169,079
Accumulated depreciation and impairment
Balance at January 1, 2024	$ 5,604	$ 6,590,740	$ 18,287,628	$ 3,834,509	$ -	$ 28,718,481
Disposals	-	( 16,334 )	( 1,024,041 )	( 49,555 )	-	( 1,089,930 )
Depreciation expenses	-	406,723	1,009,436	160,550	-	1,576,709
Reclassified	-	375	( 2,117 )	( 375 )	-	( 2,117 )
Effects of foreign currency exchange differences	-	253,277	765,936	166,252	-	1,185,465
Balance at September 30, 2024	$ 5,604	$ 7,234,781	$ 19,036,842	$ 4,111,381	$ -	$ 30,388,608
Carrying amount at September 30, 2024	$ 391,629	$ 3,674,329	$ 4,897,778	$ 690,611	$ 3,126,124	$ 12,780,471

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

16. LEASE AGREEMENT

(1) Right-of-use assets

	September 30, 2025	December 31, 2024	September 30, 2024
Amount of right-of-use assets
Land	$ 1,104,934	$ 897,552	$ 894,240
Buildings	517,810	637,825	614,561
Machinery and equipment	1,442	118	374
Other equipment	29,765	30,753	30,042
	$ 1,653,951	$ 1,566,248	$ 1,539,217
	For The Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025

Increase in right-of-use assets(Note 35)
$ 4,961 $ 1,976 $ 43,752 $ 215,885
Acquired through a corporate merger(Note 32)
$ - $ - $ 333,842 $ -
For The Three Months Ended September 30
For The Nine Months Ended September 30
2025 2024 2025 2024
Depreciation charge for right-of-use assets
$ 72,287 $ 62,907 $ 211,148 $ 185,888

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 17 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

	September 30, 2025	December 31, 2024	September 30, 2024
Lease liability book value
Current	$ 258,779	$ 215,842	$ 196,233
Non-current	$ 624,865	$ 463,746	$ 478,234

The discount rate ranges for lease liabilities was as follows:

	September 30, 2025	December 31, 2024	September 30, 2024
Land	1.85%~6.23%	4.50%	4.50%
Buildings	0.98%~4.50%	0.98%~4.50%	0.98%~4.50%
Machinery and equipment	1.80%~4.35%	4.32%~4.35%	0.35%~4.35%
Other equipment	0.98%~4.50%	0.98%~4.50%	0.35%~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 Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024
Expenses relating to short-term and low-value asset leases	$ 36,512	$ 18,063	$ 84,057	$ 42,365
Total cash outflow of leases	($ 117,025)	($ 71,313)	($ 278,205)	($ 191,890)

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.

17. INVESTMENT PROPERTIES

	September 30, 2025	December 31, 2024	September 30, 2024
Measured at cost
Completed investment properties	$ 564,875	$ 552,762	$ 561,511
Right-of-use assets	62,581	40,427	40,870
	$ 627,456	$ 593,189	$ 602,381

Expect for the depreciation recognition, the Group did not have significant addition, disposal, or impairment of investment properties for the nine months ended September 30, 2025 and 2024.

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 September 30, 2025, 2024 and December 31 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:

	September 30, 2025	December 31, 2024	September 30, 2024
Fair value	$ 2,708,880	$ 2,732,261	$ 2,431,696

18. GOODWILL

	For The Nine Months Ended September 30
	2025	2024
Cost
Balance at January 1	$ 1,097,651	$ 1,070,939
Acquisitions through business combinations (Note 32)	3,657,792	-
Effects of foreign currency exchange differences	( 80,845 )	12,136
Balance at September 30	$ 4,674,598	$ 1,083,075
Accumulated impairment
Balance at January 1	$ 390,612	$ 371,079
Effects of foreign currency exchange differences	( 21,975 )	8,874

For The Nine Months Ended September 30

	2025	2024
Balance at September 30	$ 368,637	$ 379,953
Carrying amount at September 30	$ 4,305,961	$ 703,122

19. 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	8,599	-	-	-	-	8,599
Acquisitions through business combinations (Note 32)	123,510	-	395,071	142,104	4,067	664,752
Effects of foreign currency exchange differences	( 16,199)	( 10)	( 13,104)	( 14,508)	( 415)	( 44,236)
Balance at September 30, 2025	$ 202,579	$ 199	$ 381,967	$ 127,596	$ 3,652	$ 715,993
Accumulated depreciation and impairment
Balance at January 1, 2025	$ 62,496	$ 188	$ -	$ -	$ -	$ 62,684
Amortization expense	15,575	15	27,888	6,271	20	49,769
Acquisitions through business combinations (Note 32)	89,904	-	45,161	50,000	442	185,507
Effects of foreign currency exchange differences	( 13,187)	( 9)	( 4,726)	( 5,233)	( 44)	( 23,199)
Balance at September 30, 2025	$ 154,788	$ 194	$ 68,323	$ 51,038	$ 418	$ 274,761
Carrying amount at September 30, 2025	$ 47,791	$ 5	$ 313,644	$ 76,558	$ 3,234	$ 441,232
Cost
Balance at January 1, 2024	$ 74,482	$ 4,782	$ -	$ -	$ -	$ 79,264
Additions	12,479	-	-	-	-	12,479
Disposals	( 10,132)	( 4,780)	-	-	-	( 14,912)
Effects of foreign currency exchange differences	3,146	207	-	-	-	3,353
Balance at September 30, 2024	$ 79,975	$ 209	$ -	$ -	$ -	$ 80,184
Accumulated depreciation and impairment
Balance at January 1, 2024	$ 55,349	$ 4,742	$ -	$ -	$ -	$ 60,091
Amortization expense	6,702	16	-	-	-	6,718
Disposals	( 10,132)	( 4,780)	-	-	-	( 14,912)
Effects of foreign currency exchange differences	4,818	205	-	-	-	5,023
Balance at September 30, 2024	$ 56,737	$ 183	$ -	$ -	$ -	$ 56,920
Carrying amount at September 30, 2024	$ 23,238	$ 26	$ -	$ -	$ -	$ 23,264

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

Computer software costs
1~10 years

Emission license
5 years

Customer relationships
10 years

Proprietary technology
10 years

Other
7~10 years

27 -

20. OTHER ASSETS

	September 30, 2025	December 31, 2024	September 30, 2024
Current
Prepayments	$ 585,195	$ 288,589	$ 294,662
Others	14,073	13,175	15,119
	$ 599,268	$ 301,764	$ 309,781
Non-current
Refundable deposit(Note 35)	$ 98,217	$ 85,792	$ 90,686
Prepayments for equipment	230,815	302,006	178,577
Past due receivables	3,753	3,753	3,753
Allowance for uncollectible accounts – past due receivables	( 3,753 )	( 3,753 )	( 3,753 )
Defined benefit assets	81,301	80,278	65,651
Others	29,628	1,512	13,810
	$ 439,961	$ 469,588	$ 348,724

21. BORROWINGS

(1) Short-term borrowings

	September 30, 2025	December 31, 2024	September 30, 2024
Short-term credit borrowings	$ 24,553,541	$ 17,174,806	$ 18,821,388

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

	September 30, 2025	December 31, 2024	September 30, 2024
Interest rate	0.83%~2.55%	0.61%~2.80%	0.00%~5.50%

(2) Long-term borrowings

	September 30, 2025	December 31, 2024	September 30, 2024
Secured borrowings
Bank loans	$ 195,119	$ 167,729	$ 94,090
Less: Current portion	( 20,865 )	( 13,511 )	-
	174,254	154,218	94,090
Unsecured borrowings
Bank loans	9,479,016	8,489,628	7,849,823
Less: Current portion	( 339,736 )	( 664,628 )	( 944,023 )
	9,139,280	7,825,000	6,905,800

28 -

	September 30, 2025	December 31, 2024	September 30, 2024
Commercial paper payable-syndicated Loans	2,500,000	-	-
Less: Discount on long-term notes and bills payable	(1,270)
2,498,730	-	-
Commercial paper payable- Syndicated Loans
Less: Discount on long-term notes and bills payable
Less: Administration fee of syndicated loans	(6,229)
$11,806,035	(7,667)
$7,971,551	(8,179)
$6,991,711

A. Bank loans

Bank loans	Due Date	Material terms	rate%	September 30, 2025	December 31, 2024	September 30, 2024
Floating rate loan
E. Sun Commercial Bank
Syndicated loans (2)	2029.04.26	On the expiry 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.	2.08
2.08
2.04	$ 500,000	$3,450,000	$3,000,000
E. Sun Commercial Bank
Syndicated loans (1)	2029.03.25	On the expiry 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.	2.093
2.0887
2.01	3,525,000	2,375,000	2,375,000
Far Eastern International Bank
Unsecured borrowings	2028.03.27	On the expiry of 2 years from the first use date, the first installment will be repaid, and thereafter every 6 months will be 1 installment.	2.04	1,285,000		-
Taiwan Cooperative Bank
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
2.018
1.89	1,000,000	1,000,000	1,000,000
Taipei Fubon Commercial Bank Co., Ltd.
Unsecured borrowings	2029.12.20	On the expiry 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
1.56	1,000,000	1,000,000	-
Bank of Taiwan
Unsecured borrowings	2028.04.01	On the expiry 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		-
China Everbright Bank
Unsecured borrowings	2025.10.24	Repay RMB 500,000 on the 6th and 12th months after the first use date, with the remaining principal repaid at maturity.	2.40
2.65	-	538,688	541,443
China Everbright Bank
Unsecured borrowings	2026.02.22	Repay RMB 500,000 on the 6th and 12th months after the first use date, with the remaining principal repaid at maturity.	2.15	339,736	-	-

Bank loans	Due Date	Material terms	rate%	September 30, 2025	December 31, 2024	September 30, 2024
Fubon China Bank
Syndicated loans (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.	2.80
2.80
2.80	195,119	167,729	94,090
E. Sun Commercial Bank
Unsecured borrowings	2028.03.17	Bullet repayment	1.40	123,480	-	-
E. Sun Commercial Bank
Unsecured borrowings	2028.09.05	Bullet repayment	1.40	205,800	-	-
E. Sun Commercial Bank
Unsecured borrowings	2025.03.18	Repaid in year 2025 before maturity	1.26	-	125,940	133,380
			1.15
Bank SinoPac
Unsecured borrowings	2025.07.31	Bullet repayment	1.975	-	-	800,000
				$9,674,135	$8,657,357	$7,943,913

B. Long-term Notes Payable

Issuance	Discount rate%	September 30, 2025	December 31, 2024	September 30, 2024
E. Sun Commercial Bank (2)(3)	2.06	$ 2,500,000	$ -	$ -

C. 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 term of the agreement, the Group shall complete the first drawdown within 6 months from the date of signing. The Group had applied for its first drawdown on March 26, 2024.

b. The Company 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. The Company has issued commercial paper with a total facility amount of NTD 2.5 billion. Within the 5-year term, the Company may continuously issue guaranteed commercial paper with maturities ranging from 30 to 180 days on a revolving basis.

c. In accordance with the Q&A "Transition Requirements of the Accounting Research and Development Foundation Q&A - Liability Classification of Funds Raised Through The Revolving Issuance of Commercial Papers" issued by the FSC on August 15, 2025, the commercial proceeds will be classified as current liabilities from the time of revolving issuance in January 2026.

d. 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 35.

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

a. According to the loan agreements, the company should sustain its financial ratios in its annual consolidated financial statements during the loan period;

b. According to the syndicated loan agreements signed between Global Brands Manufacture Ltd. and E. Sun Commercial Bank in addition to general conventions, Global Brands

Manufacture Ltd.'s annual consolidated financial statements should sustain certain financial ratios during the loan period.

c. According to the loan agreements, HannStar Board Tech. (Jiangyin) Corp. should sustain its financial ratios in its annual consolidated financial statements during the loan period;

22. OTHER LIABILITIES

	September 30, 2025	December 31, 2024	September 30, 2024
Current
Other payables
Payables for salaries	$ 1,537,879	$ 1,369,567	$ 1,154,966
Payables for annual leave	95,753	71,611	71,424
Payable for Expenses	1,694,601	1,539,441	1,769,867
Payable for purchase of equipment	1,025,597	1,046,243	837,319
Payable for reduction of capital(Note 25)	-	-	420,353
Others	797,834	691,675	293,823
	$ 5,151,664	$ 4,718,537	$ 4,547,752
Other payables - related parties (Note 35)	$ 17,376	$ 6,377	$ 5,844
Other liabilities
Provision for warranty	$ 889,385	$ 811,750	$ 772,112
Temporary receipts and receipts under custody	34,787	31,559	41,064
Others (Note 35)	172,595	196,853	186,547
	$ 1,096,767	$ 1,040,162	$ 999,723
Non-current
Other liabilities
Guarantee deposits received	$ 215,540	$ 282,870	$ 179,621
Accrued pension liabilities	428,650	125,853	133,541
Restoration obligation	285,048	-	-
Others	6,254	6,253	6,650
	$ 935,492	$ 414,976	$ 319,812

23. PROVISION FOR LIABILITIES

	September 30, 2025	December 31, 2024	September 30, 2024
Current
Warranty (accounted under other current liabilities)	$ 889,385	$ 811,750	$ 772,112
Payables for annual leave (accounted under other payables)	95,753	71,611	71,424
	$ 985,138	$ 883,361	$ 843,536

Non-Current

	September 30, 2025	December 31, 2024	September 30, 2024
Restoration obligation (accounted under other non-current liabilities)	$ 285,048	$ -	$ -

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.

24. RETIREMENT BENEFIT PLANS

The pension expenses of defined benefit plans were NT$ 8,127 thousand and NT$ 553 thousand for the three months ended September 30, 2025 and 2024, respectively; and NT$ 8,317 thousand and NT$ 3,463 thousand, for the nine months ended September 30, 2025 and 2024, respectively. And these were calculated based on the pension cost rate determined by the actuarial calculation on December 31, 2024 and 2023, respectively.

25. EQUITY

(1) Ordinary shares

	September 30, 2025	December 31, 2024	September 30, 2024
Authorized shares (in thousands)	700,000	700,000	700,000
Amount capital	$ 7,000,000	$ 7,000,000	$ 7,000,000
Issued and paid shares (in thousands)	486,166	486,166	486,166
Issued capital	$ 4,861,660	$ 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 aforementioned capital reduction plan was approved and became effective upon declaration by the Taiwan Stock Exchange on July 16, 2024. The capital reduction record date and the record date for the exchange of shares were August 7, 2024 and October 18, 2024, respectively. The capital reduction payable amounted to NT$422,753 thousand. After deducting NT$2,400 thousand related to the capital reduction of treasury shares, the net amount of NT$420,353 thousand was refunded to shareholders on October 25, 2024.

31 -

(2) Capital surplus

	September 30, 2025	December 31, 2024	September 30, 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	$ 3,974,222
From changes in associates’ equity	86,254	42,288	42,288
Treasury share transactions	98,883	20,004	20,004
Others	889	889	889
May only be used to offset a deficit
From share of changes in equity of subsidiaries(B)	299,155	176,669	178,096
Redemption of convertible bonds	76,918	76,918	76,918
	$ 4,536,321	$ 4,290,990	$ 4,292,417

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 29 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 appropriation of 2024 and 2023 earnings were approved in the Shareholder's meetings on June 18, 2025 and June 18 2024. Details were summarized below:

33 -

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) Non-controlling interests
For the Nine Months Ended September 30
| | 2025 | 2024 |
| --- | --- | --- |
| Balance at January 1 | $ 15,219,266 | $ 13,876,296 |
| Net profit | 1,352,481 | 1,372,102 |
| Other comprehensive Loss or income | | |
| Exchange differences on translation of financial statements of foreign operations | ( 1,235,624 ) | 567,929 |
| Unrealized profit and loss of financial assets measured at FVTOCI | 165,449 | ( 165,389 ) |
| Share of other comprehensive income and loss of associated enterprises accounted for using equity method | ( 21,321 ) | 24,770 |
| Adjustments relating to changes in retained earnings of subsidiaries accounted for using the equity method | 50,376 | 68,456 |
| Subsidiaries purchase treasury shares | ( 245,147 ) | - |
| 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 September 30 | $ 15,942,459 | $ 14,919,248 |

(5) Treasury shares

The details of the company's treasury stock changes for the nine months ended September 30, 2025, are as follows:

Unit: Thousand Shares
| Purpose | Balance at January 1 | Increase | Decrease | Balance at September 30 |
| --- | --- | --- | --- | --- |
| Shares Transferred to employees | 2,760 | 2,800 | 4,760 | 800 |

The details of the company's treasury stock changes for the nine months ended September 30, 2024, are as follows:

Unit: Thousand Shares
| Purpose | Balance at January 1 | Increase | Decrease | Balance at September 30 |
| --- | --- | --- | --- | --- |
| 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 September 30, 2025, 2,800 thousand shares have been repurchased, the cost of the treasury shares was NT$ 167,344 thousand.

The Company's Board of Directors resolved in August and September 2025 to transfer 4,854 thousand treasury shares for employee subscription. As of September 30, 2025, 4,760 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$ 79,703 thousand, and recognized capital surplus-treasury stock transactions of NT$ 78,880 thousand upon the transfer.

In March 2024, the company's board of directors resolved to transfer 3,000 thousand treasury share for employee subscription. The cost of the treasury shares was NT$ 184,434 thousand. The company resolved in 2024 to conduct a cash capital reduction, reduce 240 thousand treasury shares, $2,400 thousand. After the capital reduction, the number of treasury shares 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.

26. OPERATING REVENUE

(1) Revenue from contracts with customers

	For The Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024
Sales of PCB	$15,644,730	$11,759,791	$41,621,273	$31,335,304
Sales of real estate	20,568	8,571	44,787	21,409
Others	50,844	39,635	182,489	98,166
	$15,716,142	$11,807,997	$41,848,549	$31,454,879

(2) Contract balance

	September 30, 2025	December 31, 2024	September 30, 2024
Contract liabilities-current
Advance payment for real estate sales
Land and Buildings held for sale	$ -	$ 15,781	$ 18,540

27. NET PROFIT FROM CONTINUING OPERATIONS

(1) Interest income

	For The Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024
Deposits in banks	$ 197,500	$ 284,419	$ 687,406	$ 839,582
Others	151,333	112,392	446,468	283,162
	$ 348,833	$ 396,811	$1,133,874	$1,122,744

(2) Other income

	For The Three Months Ended September 30		For The Nine months Ended September 30
	2025	2024	2025	2024
Rental income	$ 9,343	$ 16,716	$ 26,918	$ 49,177
Dividend income	162,917	128,093	198,833	128,093
Government subsidy income	-	10,881	-	10,881
Others (Note 35)	11,242	40,874	460,341	93,915
	$183,502	$196,564	$686,092	$282,066

(3) Other gains and losses

	For The Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024
Gain (Loss) on disposal of real estate, plant and equipment	$ 8,207	$ 4,563	($ 19,308)	($ 24,899)
Gain on financial assets at FVTPL(Note 7)	63,747	674	94,502	50,549
Gain (Loss) on foreign exchange (Note 39)	132,859	(291,125)	(227,130)	146,132
Gain (Loss) on disposal of invest	19	46	(4,660)	365
Gain on reversal of impairment loss	8,194	-	8,265	-
Others	(18,070)	(63,165)	(88,320)	(170,729)
	$194,956	($349,007)	($236,651)	$ 1,418

(4) Financial cost

	For The Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024
Bank loan interest	$180,805	$111,489	$520,594	$309,766
Interest on lease liabilities	9,953	8,262	26,593	23,972
Others	571	511	1,637	3,259
	$191,329	$120,262	$548,824	$336,997

Capitalization of interest information were as follows:

	For The Three Months Ended September 30		For The Nine months Ended September 30
	2025	2024	2025	2024
Capitalized interest amount	$ -	$ 192	$ 1,560	$ 192
Capitalized interest rate	-	2.8%	2.8%	2.8%

(5) Depreciation and amortization

	For The Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024
Depreciation expense by function
Operating cost	$ 701,853	$ 534,264	$1,978,774	$1,573,698
Operating expense	84,132	70,686	252,132	210,844
	$ 785,985	$ 604,950	$2,230,906	$1,784,542

36 -

	For The Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024
Amortized expense by function
Operating cost	$ 204	$ 223	$ 5,484	$ 3,243
Operating expense	21,519	1,120	44,285	3,475
	$ 21,723	$ 1,343	$ 49,769	$ 6,718

28. EMPLOYEE BENEFIT EXPENSES

	For The Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024
Short-term employee benefits	$3,169,968	$2,114,976	$8,113,472	$5,795,243
Retirement Benefits
Defined contribution plan	157,366	135,583	465,988	384,724
Defined benefit plan (Note24)	8,128	553	8,318	3,463
	$3,335,462	$2,251,112	$8,587,778	$6,183,430
Summary by function
Operating cost	$2,469,343	$1,767,016	$6,628,187	$4,761,624
Operating expense	866,119	484,096	1,959,591	1,421,806
	$3,335,462	$2,251,112	$8,587,778	$6,183,430

29. 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 (of this amount of employee's remuneration, not less than 50% shall be allocated to basic-level employees); 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 the board of directors, and may include the company employees who meet requirements.

The estimated remuneration of employees (including basic-level employees) and directors for the three months ended September 30, 2025 and 2024, the nine months ended September 30, 2025 and 2024 were as follows

	For The Three Months Ended September 30
	2025		2024
	Amount	Estimated Ratio	Amount	Estimated Ratio
Amount of remuneration of employees	$ 33,933	2.85%	$ 24,621	2.85%
Amount of remuneration of directors	16,669	1.40%	12,094	1.40%

For The Nine Months Ended September 30

	2025		2024
	Amount	Estimated Ratio	Amount	Estimated Ratio
Amount of remuneration of employees	$ 76,652	2.85%	$ 73,309	2.85%
Amount of remuneration of directors	37,654	1.40%	36,011	1.40%

If there is a change in the amounts after the company's annual financial statement are authorized for issue, the differences are recorded as a change in the accounting estimate and adjusted in the next year.

The board of directors of the company held on February 19, 2025 and February 22, 2024 respectively resolved and approved the following remuneration for employees, directors and supervisors for 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 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.

The 2023 differences are adjusted to profit and loss in 2024 respectively.

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.

30. INCOME TAX

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

	For The Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024
Current income tax expense
Current tax expense recognized in the current year	$ 332,867	$ 488,051	$1,715,178	$1,316,385
Income tax on undistributed earnings	-	-	131,920	142,318
Income tax adjustment of previous year	-	-	30,222	5,746
Subsidiary Investment Income repatry	-	232,544	-	926,127
	332,867	720,595	1,877,320	2,390,576

38 -

	For The Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024
Current tax expense recognized in the current year	160,145	( 185,854 )	( 179,082 )	( 319,250 )
Income tax expense recognized in profit or loss	$ 493,012	$ 534,741	$1,698,238	$2,071,326

The income tax rate to the ROC Income Tax Act of the consolidated company is 20%. The income tax rate of China subsidiaries is 25%; as for other area, the income tax rate applied would follow respective local regulation.

(2) 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, expect for 2022.

31. EARNINGS PER SHARE

	For The Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024
Basic earnings per share	$ 2.26	$ 1.56	$ 4.93	$ 4.31
Diluted earnings per share	$ 2.25	$ 1.56	$ 4.92	$ 4.30

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 Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024
Basic Net profit attributable to shareholders of the parent	$1,088,769	$ 783,167	$2,380,067	$2,234,491

Number of shares

	For The Three Months Ended September 30		Unit: Thousand Shares For The Nine Months Ended September 30
	2025	2024	2025	2024
Weighted average number of ordinary shares used in the computation of basic earnings per share	482,126	500,768	482,581	518,192
Effect of potentially dilutive ordinary shares:

39 -

	For The Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024
Compensation of employees	838	1,388	1,156	1,661
Weighted average number of ordinary shares used in the computation of diluted earnings per share	482,964	502,156	483,737	519,853

The Group has the option to issue employee compensation in shares or cash, the calculation of diluted earnings per share is based on the assumption that the employee compensation will be issued in shares, and the weighted average number of outstanding shares will be included in the calculation of diluted earnings per share when the potential common shares are diluted. When calculating the diluted earnings per share before the board of directors decides to issue the number of shares for employee compensation in the next year, the potential dilution effect of such common shares shall also be considered.

32. 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	4,112,500
Right-of-use assets	333,842
Goodwill	497,521
Intangible assets	479,245
Deferred tax assets	14,297
Deposits paid	21,164

40 -

	Lincstech Co., Ltd. and subsidiaries
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 )
	$ 3,596,698

The initial accounting for the acquisition of Lincstech Co., Ltd. was only provisionally determined at the end of the period. At the date of issuance of these consolidated financial statements, the necessary market valuations and other calculations have not been finalized. The final appraisal report, when issued, may result in changes to the current amounts.

(4) Goodwill recognized on acquisitions

	Lincstech Co., Ltd. and subsidiaries
Consideration transferred	$ 6,756,969
Less: Fair value of identifiable net assets acquired	( 3,596,698 )
Goodwill recognized on acquisitions	$ 3,160,271

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

	Lincstech Co., Ltd. and subsidiaries
Consideration paid in cash	$ 6,756,969
Less: Cash and cash equivalent balances acquired	( 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:

	Lincstech Co., Ltd. and subsidiaries
Operating revenue	$ 7,508,860
Net profit for the period	$ 397,116

Effective April 8, 2025, the Group acquired Lincstech. 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.

33. CAPITAL MANAGEMENT

The Group manages its capital to ensure that all the entities of the Group will be able to continue as going concerns while optimizing the balance of debt and equity to maximize returns for shareholders. The Group's key management reviews the capital structure annually and considers the cost of capital and the risks associated.

34. 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 the Group believes that the carrying amounts of financial assets and financial liabilities that are not measured at fair value approximate their fair values.

September 30, 2025

	Carrying Amount	Fair Value
		Level 1	Level 2	Level 3	Total
Financial Assets
Financial assets at amortized cost
- Treasury Bonds	$ 439,874	$ 444,039	$ -	$ -	$ 444,039
- Corporate Bonds	12,022,619	12,205,506	-	-	12,205,506

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
- Corporate Bonds	10,955,358	10,800,738	-	-	10,800,738

September 30, 2024

	Carrying Amount	Fair Value
		Level 1	Level 2	Level 3	Total
Financial Assets
Financial assets at amortized cost
- Treasury Bonds	$ 676,267	$ 682,872	$ -	$ -	$ 682,872
- Corporate Bonds	10,102,594	10,252,060	-	-	10,252,060

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

September 30, 2025

	Level 1	Level 2	Level 3	Total
Financial assets at FVTPL
Derivative Instruments	$ -	$ 29,413	$ -	$ 29,413
Listed stocks	52,200	-	-	52,200
Mutual funds	175,217	-	-	175,217
Perpetual non-cumulative subordinated corporate bonds	-	340,332	-	340,332
Structured deposits	432,934	-	-	432,934
Limited partnership	-	-	49,817	49,817
	$ 660,351	$ 369,745	$ 49,817	$ 1,079,913
Financial assets at FVTOCI
Investments in equity instruments
—Listed stocks	$ 7,531,852	$ -	$ -	$ 7,531,852
—Non-listed stocks	-	582,611	-	582,611
—Foreign listed Stocks	266,433	-	-	266,433
—Non-Foreign listed Stocks	-	8,668	-	8,668
	$ 7,798,285	$ 591,279	$ -	$ 8,389,564
	Level 1	Level 2	Level 3	Total
Financial liabilities at fair value through profit or loss
Foreign exchange forward contracts	$ -	$ 535	$ -	$ 535

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
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

September 30, 2024

	Level 1	Level 2	Level 3	Total
Financial assets at FVTPL
Listed stocks	$ 86,130	$ -	$ -	$ 86,130
Mutual funds	281,717	-	-	281,717
Perpetual non-cumulative subordinated corporate bonds	-	359,240	-	359,240
Structured deposits	19,915	-	-	19,915
Limited partnership	-	-	24,564	24,564
	$ 387,762	$ 359,240	$ 24,564	$ 771,566

43 -

Financial assets at FVTOCI
Investments in equity instruments
-Listed stocks	$ 7,139,005	$	-	$ 7,139,005
-Non-listed stocks	-	543,071	-	543,071
-Foreign listed Stocks	584,148	-	-	584,148
	$ 7,723,153	$ 543,071	$	$ 8,266,224

There were no transfers between level 1 and level 2 fair value measurements for the nine months ended September 30, 2025 and 2024.

C. Valuation techniques and assumption for value measurement

The fair value of financial assets and financial liabilities is 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 observable market price are valued using option pricing models. Non-option derivatives without observable market prices are valued using 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, lease liabilities and borrowings. 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).

44 -

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 39 for the book amounts of non-functional currency denominated monetary assets and monetary liabilities 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 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 USD		Impact of 1% appreciation of RMB		Impact of 1% appreciation of JPY
	For The Nine Months Ended September 30		For The Nine Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024	2025	2024
Impact to net income before income tax	$ 113,475	$ 137,373	($ 34,933)	($ 15,849)	$ 23,802	($ 8,574)

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 :

	September 30, 2025	December 31, 2024	September 30, 2024
Interest rate risk with fair value
—Financial asset	$12,462,493	$11,493,190	$10,778,861
Interest rate risk with cash flow
—Financial asset	26,678,166	26,914,374	26,660,726
—Financial liability	36,720,177	25,824,496	26,757,122

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 for the nine months ended September 30,2025 and 2024 will decrease by NT$ 75,315 thousand and NT$ 723 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 believes 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 Group. As of September 30, 2025 and 2024, and December 31, 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 Group's 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 Group 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.

September 30, 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	-	$ 15,558,671	$ 215,540	$ -	$ 15,774,211
Lease liabilities	3.88%	258,779	365,930	258,935	883,644
Floating interest rate liabilities	1.87%	24,914,142	11,806,035	-	36,720,177
		$ 40,731,592	$ 12,387,505	$ 258,935	$ 53,378,032

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	$ 258,779	$ 365,930	$ 52,066	$ 65,418	$ 141,451	$ 883,644

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

September 30, 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	-	$ 11,733,861	$ 358,482	$ -	$ 12,092,343
Lease liabilities	4.47%	196,233	474,558	3,676	674,467
Floating interest rate liabilities	2.14%	19,765,411	6,991,711	-	26,757,122
		$ 31,695,505	$ 7,824,751	$ 3,676	$ 39,523,932

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	$ 196,233	$ 474,558	$ 3,676	$ -	$ -	$ 674,467

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

	September 30, 2025	December 31, 2024	September 30, 2024
Unsecured bank loan facilities which may be extended by mutual agreement:
— Amount used	$ 36,727,676	$ 25,832,163	$ 26,765,301
— Unused amount	42,313,247	32,404,724	31,229,636
	$ 79,040,923	$ 58,236,887	$ 57,994,937

35. 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
Zheng cheng Precision Industry Co., Ltd.	Affiliated enterprise
Walsin New Energy Corporation	Affiliated enterprise
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
VVG INC.	Other related party
PSA CHARITABLE FOUNDATION	Other related party
PSA VVG Foundation for Culture and Arts	Other related party
Kamaya Electric Co., Ltd.	Other related party
Kamaya Electric (M) Sdn. Bhd.	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 Three Months Ended September 30		For The Nine Months Ended September 30
		2025	2024	2025	2024
Sales revenue	Significant investors	$ 1,162	$ 259	$ 2,938	$ 1,163
	Affiliated Enterprises	1,084	2,656	4,599	8,478
	Other related parties	22,909	12,637	53,222	39,596
		$ 25,155	$ 15,552	$ 60,759	$ 49,237
Purchase	Significant investors	$ 1,539	$ 863	$ 4,914	$ 1,967
	Affiliated Enterprises	5,983	2,460	27,368	5,262
	Other related parties	4,772	6,013	14,631	18,022
		$ 12,294	$ 9,336	$ 46,913	$ 25,251
Dividend revenue	Significant investors / Walsin Technology Corp.	$ 105,544	$ 83,521	$ 105,544	$ 83,521
	Other related parties	2,952	3,010	2,952	3,010
		$ 108,496	$ 86,531	$ 108,496	$ 86,531
Other incomes	Significant investors	$ 6,281	$ 2,238	$ 11,468	$ 7,627
	Affiliated Enterprises	1,140	4,738	7,720	7,381
		$ 7,421	$ 6,976	$ 19,188	$ 15,008
Other expenses and losses	Significant investors	$ 10,252	$ 10,160	$ 25,743	$ 28,046
	Affiliated Enterprises	13,312	4,179	27,701	5,267
	Other related parties	14,946	752	24,010	10,140
		$ 38,510	$ 15,091	$ 77,454	$ 43,453

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	September 30, 2025	December 31, 2024	September 30, 2024
Accounts receivable	Significant investors	$ 1,149	$ 707	$ 825
	Affiliated enterprises	2,219	12,290	13,988
	Other related parties	20,892	14,958	10,005
		$ 24,260	$ 27,955	$ 24,818
Other receivables	Significant investors	$ 4,416	$ 2,351	$ 2,349
	Affiliated enterprises	1,016	1,394	424
	Other related parties	448	1,014	1,705
		$ 5,880	$ 4,759	$ 4,478
Refundable deposit	Significant investors	$ 175	$ 175	$ 175

Line Item	Related Party Category	September 30, 2025	December 31, 2024	September 30, 2024
Accounts payable	Significant investors	$ 74	$ 142	$ 146
	Affiliated enterprises	21,383	-	1,031
	Other related parties	7,498	7,681	8,344
		$ 28,955	$ 7,823	$ 9,521
Other payables	Significant investors	$ 4,746	$ 3,985	$ 3,020
	Affiliated enterprises	679	-	-
	Other related parties	11,951	2,392	2,824
		$ 17,376	$ 6,377	$ 5,844
Receipts in	Other related parties	$ 23,458	$ 23,630	$ 22,352

Receivables from related parties are not guaranteed. 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 fees receivable from related parties; other payables refer to the consulting service fees, rents, processing fees and 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 Three Months Ended September 30		For The Nine Months Ended September 30
Related Party Category	2025	2024	2025	2024
Affiliated enterprises	$ -	$ -	$ 88	$ 3,200

(4) Disposal of property, plant and equipment

	Proceeds		Loss on Disposal
	For The Three Months Ended September 30		For The Three Months Ended September 30
Related Party Category	2025	2024	2025	2024
Other related parties	$ -	$ 35	$ -	($ 673)
	Proceeds		Loss on Disposal
	For The Nine Months Ended September 30		For The Nine Months Ended September 30
Related Party Category	2025	2024	2025	2024
Other related parties	$ -	$ 1,823	$ -	($ 139)

(5) Lease arrangements

	For The Three Months Ended September 30		For The Nine Months Ended September 30
Related Party Category	2025	2024	2025	2024
Acquisition of right-of-use assets
Other related parties	$ -	$ -	$ -	$ 108,535

50 -

Line Item	Related Party Category	September 30, 2025	December 31, 2024	September 30, 2024
Lease liabilities	Other related parties	$ 75,028	$ 90,417	$ 95,432
	Affiliated enterprises	41,908	49,528	-
		$ 116,936	$ 139,945	$ 95,432
Related Party Category	For The Three Months Ended September 30		For The Nine Months Ended September 30
---	---	---	---	---
	2025	2024	2025	2024
Interest expense
Other related parties	$ 860	$ 1,045	$ 2,754	$ 3,025
Affiliated enterprises	204	-	647	-
	$ 1,064	$ 1,045	$ 3,401	$ 3,025

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 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 21.

(7) Compensation of key management personnel

	For The Three Months Ended September 30		For The Nine Months Ended September 30
	2025	2024	2025	2024
Short-term employee benefits	$ 43,208	$ 35,354	$ 142,446	$ 139,235
Post-retirement benefits	218	185	585	653
	$ 43,426	$ 35,539	$ 143,031	$ 139,888

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

36. ASSETS PLEDGED AS COLLATERAL

The following assets have been provided as margin for derivative financial instruments :

	September 30, 2025	December 31, 2024	September 30, 2024
Restricted bank deposits
(Financial assets measured at amortized cost)	$ 1,836,878	$ 328,133	$ -

51 -

37. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED COMMITMENTS

(1) Unused letters of credit were as follows :

Unit: In thousands of foreign currency

Currency	September 30, 2025	December 31, 2024	September 30, 2024
JPY	$ -	$ 10,175	$ 13,125
EUR	220	-	-

(2) Unrecognized commitments were as follows :

	September 30, 2025	December 31, 2024	September 30, 2024
Acquisition of property, plant and equipment (Include construction industry inventory)	$ 3,577,870	$ 1,529,926	$ 2,343,779

38. OTHER EVENTS

2nd domestic unsecured convertible bonds

On May 28, 2025, the Group's Board of Directors resolved to issue 10,000 units of 2nd domestic unsecured convertible corporate bonds with a coupon rate of 0%, to be issued at 100%–102% of par value. The total issuance amount shall not exceed $1 billion, and the bonds will have a maturity of three years. The issuance was declared effective by the FSC under Letter No. 11403483091 dated July 1, 2025. The Group subsequently applied to the FSC for a three-month extension of the offering period. The extension was approved for recordation under FSC Letter No. 1140359159 dated September 26, 2025, and the offering period has been extended to December 31, 2025.

39. 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

September 30, 2025	Foreign currency	Exchange rate	Carrying amount
Financial asset
Monetary items
USD	$ 738,489	30.445	$ 22,483,298
RMB	556,611	4.2734	2,378,621
JPY	14,575,659	0.2058	2,999,671
Financial liabilities
Monetary item
USD	365,769	30.445	11,135,837
RMB	1,374,055	4.2734	5,871,887
JPY	3,010,150	0.2058	619,489

52 -

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
September 30, 2024
	Foreign currency	Exchange rate	Carrying amount
Financial asset
Monetary items
USD	$ 831,729	31.65	$ 26,324,223
RMB	567,624	4.512	2,561,119
JPY	5,689,859	0.2223	1,264,856
Financial liabilities
Monetary item
USD	397,691	31.65	12,586,920
RMB	918,891	4.512	4,146,036
JPY	9,546,867	0.2223	2,122,269

For the nine months ended September 30, 2025 and 2024, the Group included unrealized and realized foreign currency exchange (losses) benefits were (NT$ 227,130) thousand NT$ 146,132 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.

40. 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

54 -

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 nine months ended September 30, 2025.

41. SEGMENT INFORMATION

Each of operating segments 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 cash flow is generated in the same way;
The daily operation activities are similar.

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 nine months ended September 30, 2025 and 2024 is as follows:

	For The Nine Months Ended September 30, 2025
	PCB Dept.	EMS Dept.	Other Dept.	Adjustment and write off	Total
Operating income	$ 39,186,803	$ 6,283,595	$ 272,582	($ 3,894,431)	$ 41,848,549
Cost of goods sold	31,964,114	5,071,484	138,768	( 3,899,187)	33,275,179
Gross profit	7,222,689	1,212,111	133,814	4,756	8,573,370
Operating expenses	2,923,270	312,790	462,167	( 4,816)	3,693,411
Operating profit (loss)	4,299,419	899,321	( 328,353)	9,572	4,879,959
Non-operating income and losses	( 159,187)	107,053	612,533	( 9,572)	550,827
Profit (Loss) before income tax from operations	$ 4,140,232	$ 1,006,374	$ 284,180	$ -	$ 5,430,786

55 -

For The Nine Months Ended September 30, 2024

	PCB Dept.	EMS Dept.	Other Dept.	Adjustment and write off	Total
Operating income	$ 28,489,840	$ 6,112,544	$ 309,464	($ 3,456,969)	$ 31,454,879
Cost of goods sold	21,794,947	4,951,872	97,219	( 3,450,676)	23,393,362
Gross profit	6,694,893	1,160,672	212,245	( 6,293)	8,061,517
Operating expenses	2,162,108	324,461	453,652	( 7,662)	2,932,559
Operating profit (loss)	4,532,785	836,211	( 241,407)	1,369	5,128,958
Non-operating income and losses	275,606	91,206	183,518	( 1,369)	548,961
Profit (Loss) before income tax from operations	$ 4,808,391	$ 927,417	($ 57,889)	$ -	$ 5,677,919

The intersegment transactions have been written off for the nine months ended September 30, 2025 and 2024.

Table 1

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

MARKETABLE SECURITIES HELD

SEPTEMBER 30, 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	SEPTEMBER 30, 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	$ 90,325	2.91	$ 90,325
	Chin-Xin Investment Co., Ltd.	Other related parties	"	6,500,000	280,280	1.34	280,280
	Walsin Technology Corp.	Investors with significant influence	"	43,886,115	4,586,099	9.05	4,586,099
	Walton Advanced Engineering, Inc.	Other related parties	"	14,761,000	265,698	2.85	265,698

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.

56 -

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 NINE MONTHS ENDED SEPTEMBER 30, 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	Payment Terms	Unit Price	Payment Terms	Ending Balance	% of Total
HannStar Board Corp.	HannStar Board Tech. (Jiangyin) Corp.	100% indirect subsidiary	Purchase	$ 2,937,714	65	Monthly settlement 95 days	N/A	N/A	($ 1,640,132)	( 66 )
〃	〃	〃	Sales	203,739	( 3 )	Monthly settlement 150 days	〃	〃	167,836	5

57 -

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 SEPTEMBER 30, 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	$ 167,836 USD 5,512,762	2.15	$ -	—	$ 45,628 USD 1,498,698	$ -

58 -

Table 4

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

INFORMATION ON INVESTEES

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025

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

Investor Company	Investor Company	Location	Main Businesses and Products	Original Investment Amount		September 30, 2025			Net Income (Loss) of the Inverse	Share of Profit (Loss)	Note
				September 30, 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	$ 24,982,825	$ 1,728,625	$ 1,728,625
“	Global Brands Manufacture Ltd.	Taiwan	PCB manufacturing and sales	5,113,153	4,483,961	201,204,729	40.30	10,286,709	2,382,414	970,650	Note 2
“	Career Technology (MFG) Co., Ltd	Taiwan	PCB manufacturing and sales	4,428,098	4,056,968	176,415,555	27.73	2,769,092	( 1,801,705 )	( 493,974 )
“	Walsin New Energy Corporation	Taiwan	Solar power generation	12,500	12,500	1,250,000	25.00	10,350	( 3,701 )	( 925 )
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	16,141,338	1,464,544	1,464,544
“	HannStar Board Investments (Hong Kong) Limited	Hong Kong	General investment	108,578	108,578	USD 3,600,000	100.00	88,293	( 1,466 )	( 1,466 )
“	PSA JAPAN INVESTMENT G.K.	Japan	General investment	108,578	108,578	USD 8,600,000	100.00	1,327,900,078	( 1,466 )	( 1,466 )
“	HannStar Board Investments (Hong Kong) Limited	Hong Kong	General investment	280,653	280,653	USD 8,623,538	18.00	274,688	( 28,151 )	( 5,067 )
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	88,280	( 9,773 )	( 1,466 )
HannStar Board International Holdings Ltd.	HannStar Board Holdings (Hong Kong) Ltd.	Hong Kong	General investment	8,674,729	8,674,729	215,970,000	100.00	16,125,520	1,464,482	1,464,482
HannStar Board Tech. (Jiangyin) Corp.	Chongqing Xincheng Electronics Co., Ltd.	Chongqing City, China	Sales of electronic components, Real estate investment and leasing	58,582	58,582	RMB 11,325,649	21.35	62,469	( 797 )	( 170 )
“	Chongqing Shushong Investment Co., Ltd.	Chongqing City, China	General investment, etc.	643,270	643,270	RMB 135,950,000	25.65	588,247	( 97,080 )	( 24,901 )
Chongqing Shushong Shushong Investment Co., Ltd.	Chongqing Shushong Shushong Investment Co., Ltd.	Chongqing City, China	Enterprise real estate management	1,916,545	1,916,545	RMB 400,000,000	100.00	1,706,982	( 98,597 )	( 98,597 )
“	Qin First Investments Ltd.	British Virgin Islands	General investment	5,220,149	5,220,149	USD 167,322,352	100.00	14,551,304	1,116,448	1,116,448
“	Dynamo Skyline Ltd.	British Virgin Islands	General investment	1,026,016	1,026,016	USD 32,800,000	100.00	8,589,356	529,039	529,039
“	Success Ocean Investments Ltd.	British Virgin Islands	General investment	1,655,630	1,655,630	USD 51,300,000	100.00	1,566,403	49,445	49,445
“	Cheng Cheng Enterprise Co., Ltd.	Taiwan	Real estate business and rents	344,393	344,393	14,000,000	100.00	223,735	( 16,627 )	( 16,627 )
“	Falcon Automation Equipment Corp.	Taiwan	Mechanical device and electronic components manufacture service	10,300	10,300	3,831,600	50.24	87,825	( 8,569 )	( 4,305 )
“	INFO-TEK CORPORATION	Taiwan	Electronic spare part manufacturing industry	319,666	319,666	33,270,949	27.55	935,110	115,583	34,285
“	Walsin New Energy Corporation	Taiwan	Solar energy generation	5,000	5,000	500,000	10.00	4,140	( 3,701 )	( 370 )
“	ELNA Printed Circuits Co., Ltd.	Japan	PCB production and sales business	1,082,296	1,082,296	8,500	100.00	( 659,778)	( 342,413)	( 341,983)
“	GBM ELECTRONICS (M) SDN. BHD.	Malaysia	PCB assembly sales service	1,399,284	1,399,284	200,000,000	100.00	(JPY 3,205,920,588)	( JPY 1,624,350,730 )	( JPY 1,622,311,765 )
“	Lincoln Co., Ltd.	Japan	PCB production and sales business	MYR 200,000,000	MYR 200,000,000	-	202,000	1,724,567	72,239	72,239
“	Zhengcheng Precision Industry Co., Ltd.	Taiwan	Machine equipment manufacture service	6,756,969	-	202,000	100.00	6,946,790	383,651	397,116	Note 3

(Continued)

Investor Company	Investor Company	Location	Main Businesses and Products	Original Investment Amount			September 30, 2025			Net Income (Loss) of the Investor
				September 30, 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	($ 17,264)	$ 30,999	$ 30,999
				USD 7,326,152	USD 7,326,152	(Note 1)		(USD 567,068)	(USD 992,845)	(USD 992,845)
".	GBM UP (HK) Ltd.	Hong Kong	General investment	217,822	217,822	USD 7,200,000	100.00	176,576	(2,962)	(2,962)
				USD 7,200,000	USD 7,200,000	(Note 1)		USD 5,799,839	(USD 94,855)	(USD 94,855)
".	Forever Line Ltd.	Hong Kong	General investment	978,286	978,286	54,392,201	100.00	638,750	214,731	214,731
				USD 35,342,690	USD 35,342,690			USD 20,980,472	USD 6,877,553	USD 6,877,553
PSA Japan Investment G.K.	Japan	General investment	279,834	279,834	279,834	USD 8,623,538	18.00	274,688	(19,196)	(3,455)
			USD 8,623,538	USD 8,623,538	(Note 1)			JPY 1,334,731,780	(JPY 91,060,359)	(JPY 16,390,865)
Success Ocean Investments Ltd.	Always Up Investments Ltd.	Hong Kong	General investment	933,798	933,798	HKD 227,112,381	100.00	852,691	33,227	33,227
				USD 29,300,000	USD 29,300,000	(Note 1)		USD 28,007,588	USD 1,064,228	USD 1,064,228
".	CMK Global Brands Manufacture Ltd.	British Virgin Islands	General investment	1,034,792	1,034,792	8,600,000	86.00	425,199	18,858	16,218
				USD 31,500,000	USD 31,500,000			USD 13,966,123	USD 603,984	USD 519,426
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	2,846,627	357,622	357,539
				USD 82,618	USD 129			USD 93,500,650	USD 11,454,173	USD 11,451,501
".	Total Rich Holdings Ltd.	Hong Kong	General investment	126	126	1	100.00	276,708	35,746	35,746
				USD 3,716	USD 3,716			USD 9,088,798	USD 1,144,887	USD 1,144,887
".	Up Ever Holdings Ltd.	Hong Kong	General investment	753	753	1	100.00	187,632	29,018	29,018
				USD 22,218	USD 22,218			USD 6,162,973	USD 929,404	USD 929,404
ELNA Printed Circuits Co., Ltd.	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	(1,172,494)	(378,859)	(370,347)
				MYR 305,500,000	MYR 305,500,000	(Note 1)		(MYR 161,303,815)	(MYR 52,199,874)	(MYR 51,027,183)
Centralian Investments Ltd.	Will Grow Holdings Ltd.	Hong Kong	General investment	-	1,300,814	-	-	-	357,622	83
				USD	USD 40,000,000			USD	USD 11,454,173	USD 2,672
Lincstech Co., Ltd.	Lincstech YGA Co., Ltd.	Japan	PCB production and sales service	22,691	-	198,000	100.00	(168,712)	(45,710)	(45,710)
				JPY 99,000,000	JPY -			(JPY 819,788,099)	(JPY 216,840,436)	(JPY 216,840,436)
".	Lincstech Circuit Singapore Pte. Ltd.	Singapore	PCB production and sales service	754,400	-	32,800,000	100.00	4,572,108	369,904	333,176
				SGD 32,800,000	SGD -			JPY 22,216,266,649	JPY 1,754,763,544	JPY 1,580,529,934
".	Lincstech America Inc.	United States of America	PCB production and sales service	20,510	-	1	100.00	97,301	41,565	41,684
				USD 700,000	USD -			JPY 472,792,234	JPY 197,177,772	JPY 197,741,178
Chean 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	49,938	(403)	(139)
				RMB 9,050,000	RMB 9,050,000	(Note 1)		USD 1,640,262	USD 12,905)	USD 4,453)
GBM UP (HK) Ltd.	GHPW Enterprise Corporation (Hong Kong) Ltd.	Hong Kong	General investment	217,822	217,822	USD 7,200,000	30.00	176,560	(9,872)	(2,962)
				USD 7,200,000	USD 7,200,000	(Note 1)		USD 5,799,300	USD 316,190)	USD 94,857)
Kanshan Yuanmong Electronics Technology CO., Ltd.	Chongqing Shuohong Investment Co., Ltd.	Chongqing City, China	General investment, etc.	320,186	320,186	RMB 67,990,000	12.828	294,023	(97,662)	(12,528)
				RMB 67,990,000	RMB 67,990,000	(Note 1)		USD 9,657,525	(RMB 22,521,861)	(RMB 2,889,104)
Chean Yi Computer (Shenzhen) Co., Ltd.	Chongqing City, China	Chongqing City, China	General investment, etc.	320,186	320,186	RMB 67,990,000	12.828	294,023	(97,662)	(12,528)
				RMB 67,990,000	RMB 67,990,000	(Note 1)		USD 9,657,531	(RMB 22,521,861)	(RMB 2,889,104)

Note 1: It is presented in the original investment amount.
Note 2: Have significant non-controlling interests.
Note 3: The investee company's profit (loss) for the current period is the amount from April 8 to September 30, 2025.
Note 4: The company was originally named ELNA Pcb (M) Sdn. Bhd. and was renamed Lincstech Circuit Malaysia Sdn. Bhd. in October 2025.

(Concluded)

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

Table 5

FINANCING PROVIDED TO OTHERS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 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.	ELNA PCB (M) SDN.BHD.	Other receivables from related parties	Y	$	332,050	$	-	$	-	Not more than 5.0%	2	$	Operating turnover and loan repayment	$	-	$	$	9,621,368
					USD	10,000,000	USD	-	USD	-
2	2	Cheng Cheng Enterprise Co., Ltd.	2	2	350,000	350,000	-	-	-	Not more than 3.0%	2	-	2	-	-	-	9,621,368	9,621,368
2	2	Lincstech Co., Ltd.	2	2	4,259,000	3,910,200	-	-	-	Not more than 3.0%	2	-	2	-	-	-	9,621,368	9,621,368
2	2	Lincstech YGA Co., Ltd.	2	2	448,400	411,600	-	-	-	Not more than 5.0%	2	-	2	-	-	-	9,621,368	9,621,368
2	Chuan Yi Computer (Shenzhen) Co., Ltd.	Kunshan Xiongqiang Electronics Technology Co., Ltd.	2	2	292,975	136,672	-	136,672	-								2,166,346	2,166,346
3	Up First Investments Ltd.	CMK Global Brands Manufacture Ltd.	2	2	996,150	608,900	571,943	Not more than 5.0%	2	-	2	-	-	-	-	-	5,820,522	14,551,304
3	2	Lincstech Circuit Malaysia Sdn. Bhd. (Note 4)	2	2	3,588,600	3,348,950	2,550,073	Not more than 5.0%	2	-	2	-	-	-	-	-	5,820,522	14,551,304
3	2	Global Brands Manufacture Ltd.	2	2	2,324,350	2,131,150	-	-	Not more than 5.0%	2	-	2	-	-	-	-	5,820,522	14,551,304
3	2	Cheng Cheng Enterprise Co., Ltd.	2	2	332,050	304,450	219,218	Not more than 5.0%	2	-	2	-	-	-	-	-	14,551,304	14,551,304
3	2	Lincstech Co., Ltd.	2	2	3,955,800	3,910,200	-	-	Not more than 5.0%	2	-	2	-	-	-	-	14,551,304	14,551,304
3	2	Lincstech YGA Co., Ltd.	2	2	416,400	411,600	411,600	Not more than 5.0%	2	-	2	-	-	-	-	-	14,551,304	14,551,304
4	Success Ocean Investments Ltd.	Up First Investments Ltd	2	2	568,195	289,228	288,497	Not more than 5.0%	2	-	2	-	-	-	-	-	939,842	939,842
5	Kunshan Yeansong Electronics Technology Co., Ltd.	Kunshan Yeansong Electronics Technology Co.	2	2	320,442	-	-	-	Not more than 5.0%	2	-	2	-	-	-	-	1,644,133	1,644,133
6	Dong Guan Xiangcheng Electronic Technology Co., Ltd.	Global Brands Manufacture (Dongguan) Ltd.	2	2	833,821	619,296	568,044	Not more than 5.0%	2	-	2	-	-	-	-	-	1,644,133	1,644,133
6	Dong Guan Xiangcheng Electronic Technology Co., Ltd.	Global Brands Manufacture (Dongguan) Ltd.	2	2	833,821	619,296	568,044	Not more than 5.0%	2	-	2	-	-	-	-	-	852,402	852,402
7	Dynamic Skyline Ltd.	Lincstech Circuit Malaysia Sdn. Bhd. (Note 4)	2	2	3,254,090	1,126,465	1,126,465	Not more than 5.0%	2	-	2	-	-	-	-	-	3,435,742	5,153,614
7	2	Up First Investments Ltd.	2	2	917,700	913,350	814,404	Not more than 5.0%	2	-	2	-	-	-	-	-	5,153,614	5,153,614
8	Dong Guang Jin-Cheng Electronics Technology Co., Ltd.	Global Brands Manufacture (Dongguan) Ltd.	2	2	166,360	85,420	85,420	Not more than 5.0%	2	-	2	-	-	-	-	-	276,708	276,708
9	Yi-Kuan Electronics (Shenzhen) Co., Ltd.	Chuan Yi Computer (Shenzhen) Co., Ltd.	2	2	261,813	260,531	260,531	Not more than 5.0%	2	-	2	-	-	-	-	-	267,504	267,504
10	GBM ELECTRONICS (M) SDN. BHD.	Lincstech Circuit Malaysia Sdn. Bhd. (Note 4)	2	2	630,895	578,455	447,962	Not more than 5.0%	2	-	2	-	-	-	-	-	690,896	1,036,343
11	Ever-Precise Recycle Company	Chuan Yi Computer (Chongqing) Co., Ltd.	2	2	85,840	85,420	85,420	Not more than 5.0%	2	-	2	-	-	-	-	-	163,845	163,845
12	Lincstech Circuit Singapore Pte. Ltd.	Lincstech Co., Ltd.	2	2	1,185,906	1,088,579	617,400	2.75%	2	-	2	-	-	-	-	-	2,772,973	2,772,973
13	Kunshan Yeansong Electronics Technology Co.	Kunshan Xiongqiang Electronics Technology Co., Ltd.	2	2	21,460	21,355	21,355	Not more than 5.0%	2	-	2	-	-	-	-	-	638,747	638,747
2	2	Kunshan Yeansong Electronics Technology CO., Ltd.	2	2	407,742	405,746	149,485	Not more than 5.0%	2	-	2	-	-	-	-	-	638,747	638,747
14	Dong Guang Yao Cheng Electronics Technology CO., Ltd.	Global Brands Manufacture (Dongguan) Ltd.	2	2	107,301	106,775	106,775	Not more than 5.0%	2	-	2	-	-	-	-	-	187,632	187,632

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 September 30, 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 Computer (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 September 30, 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 September 30, 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 September 30, 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 September 30, 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 September 30, 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 September 30, 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 September 30, 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 September 30, 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 September 30, 2025). Among them, the loan limit for a single enterprise to others shall not exceed 60% of the 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 September 30, 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) Linstech 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 September 30, 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 September 30, 2025). Among them, the loan limit for a single enterprise to others shall not exceed 100% of the value of the latest financial statement.
(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 September 30, 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 Pch (M) Sdn. Bhd. and was renamed Linstech Circuit Malaysia Sdn. Bhd. in October 2025.

62 -

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

Table 6

ENDORSEMENTS/GUARANTEES PROVIDED

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 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	$ 24,053,420	$ 332,050	$ -	$ -	$ -	-	$ 48,106,840	Y	-	-
					USD 10,000,000	USD -	USD -
a	a	ELNA Printed Circuits Co., Ltd.	2	24,053,420	672,600	617,400	195,510	-	2.57	48,106,840	Y	-	-
					JPY 3,000,000,000	JPY 3,000,000,000 (Note 4)	JPY 950,000,000
a	a	Linotech Circuit Malaysia Sdn. Bhd.(Note 6)	2	24,053,420	9,962	-	-	-	-	48,106,840	Y	-	-
					USD 300,000	USD -	USD -
a	a	Linotech Co., Ltd.	2	24,053,420	6,662,400	6,585,600	4,116,000	-	27.38	48,106,840	Y	-	-
					JPY32,000,000,000	JPY32,000,000,000 (Note 4)	JPY20,000,000,000
2	Dong Guang Jin-Cheng Electronics Technology CO., Ltd	Global Brands Manufacture (Dongguan) Ltd.	4	138,354	5,219	4,869	-	-	1.76	138,354	-	-	Y
					RMB 1,140,000	RMB 1,140,000	RMB -

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.

Table 7

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

MARKETABLE SECURITIES HELD

September 30, 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	September 30, 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	$ 212,006	6.83	$ 212,006
	Walsin Technology Corp.	Affiliated Enterprises	n	21,201,481	2,215,555	4.37	2,215,555

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 $\cdot$ 10 and 11 for information about investment in subsidiaries and related enterprises.

64 -

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 NINE MONTHS ENDED SEPTEMBER 30, 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	$ 293,754	3	60~120 days	-	-	($ 451,131)	( 11 )
n	Chuan Yi Computer (Shenzhen) Co., Ltd.	n	Purchase	2,671,660	27	60~120 days	-	-	( 739,522 )	( 17 )
n	Chuan Yi Computer (Chongqing) Co., Ltd	n	Purchase	4,148,010	41	60~150 days	-	-	( 1,856,792 )	( 43 )
n	Dong Guang CMK Global Brands Manufacture Ltd.	n	Purchase	751,633	7	60~120 days	-	-	( 637,083 )	( 15 )
n	GBM ELECTRONICS (M) SDN. BHD.	n	Purchase	488,544	5	60~120 days	-	-	( 251,055 )	( 6 )
n	Kunshan Yuansong Electronics Technology CO., Ltd.	n	Purchase	531,707	5	60~120 days	-	-	( 171,065 )	( 4 )
n	n	n	Sale	( 1,190,161 )	( 10 )	60~120 days	-	-	126,781	2
Chuan Yi Computer (Shenzhen) Co., Ltd.	Dong Guang CMK Global Brands Manufacture Ltd.	Brother company	Purchase	271,747	14	60~120 days	-	-	( 93,127 )	( 15 )
Lincstech Co., Ltd.	Lincstech America Inc.	Brother company	Sale	( 413,727 )	( 18 )	150 days	-	-	279,386	40
Lincstech Circuit Singapore Pte. Ltd.	Lincstech America Inc.	Brother company	Sale	( 225,317 )	( 5 )	90 days	-	-	159,757	10
Lincstech Circuit Singapore Pte. Ltd.	Lincstech Co., Ltd.	Brother company	Sale	( 214,646 )	( 4 )	90 days	-	-	37,032	2

65 -

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
September 30, 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	$ 1,640,132USD 53,871,971	2.48	$ -	-	$ 304,457USD 10,000,217	$ -
Global Brands Manufacture Ltd.	Kunshan Yuansong Electronics Technology Co., Ltd.	Brother company	USD 126,781USD 4,164,266	11.60	-	-	USD -	-
Up First Investments Ltd.	Lincstech YGA Co., Ltd.	Brother company	JPY 2,008,244,443(Note 1)	-	-	-	USD -	-
#	CMK Global Brands Manufacture Ltd	#	USD 571,943USD 18,786,100(Note 1)	-	-	-	-	-
#	Lincstech Circuit Malaysia Sdn. Bhd.(Note2)	#	USD 2,557,916USD 84,017,606(Note 1)	-	-	-	-	-
#	Cheng Cheng Enterprise Co., Ltd.	#	USD 220,209JPY 1,069,899,991(Note1)	-	-	-	-	-
Success Ocean Investments Ltd.	Up First Investments Ltd.	Brother company	JPY 288,497USD 9,476,000(Note 1)	-	-	-	-	-
Global Brands Manufacture (Dongguan) Ltd.	Global Brands Manufacture Ltd.	Brother company	USD 451,131USD 14,817,900	2.53	-	-	USD 31,163USD 1,023,589	-
Dong Guan Xiangcheng Electronic Technology Co., Ltd.	Global Brands Manufacture (Dongguan) Ltd.	Brother company	RMB 133,978,144(Note 1)	-	-	-	-	-
Dong Guang Jin Cheng Electronics Technology Co., Ltd.	Global Brands Manufacture (Dongguan) Ltd.	Brother company	USD 117,745USD 3,867,471(Note1)	-	-	-	-	-
Dong Guang CMK Global Brands Manufacture Ltd.	Global Brands Manufacture Ltd.	Brother company	USD 637,083USD 20,925,686	1.62	-	-	USD 81,513USD 2,677,372	-
Chuan Yi Computer (Shenzhen) Co., Ltd.	Global Brands Manufacture Ltd.	Brother company	USD 739,522USD 24,290,432	4.24	-	-	USD 25,536USD 838,762	-
#	Kunshan Xionqing Electronics Technology Co., Ltd.	#	USD 136,672USD 32,000,000(Note 1)	-	-	-	-	-
Chuan Yi Computer (Chongqing) Co., Ltd.	Global Brands Manufacture Ltd.	Brother company	USD 1,856,792USD 60,988,420	3.38	-	-	USD -	-
Kunshan Yuansong Electronics Technology CO., Ltd.	Global Brands Manufacture Ltd.	Brother company	USD 171,065USD 5,618,836	5.96	-	-	USD -	-
Yi-Kuan Electronics (Shenzhen) Co., Ltd.	Chuan Yi Computer (Shenzhen) Co., Ltd.	Brother company	RMB 260,531RMB 61,000,000(Note 1)	-	-	-	-	-

(Continued)

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	$ 1,128,927
USD 37,080,858
(Note 1)	-	-	—	$	-
”	Up First Investments Ltd.	”	814,404
USD 26,750,000
(Note 1)	-	-	—	-	-
GBM ELECTRONICS (M) SDN. BHD.	Global Brands Manufacture Ltd.	Brother company	251,055
MYR 34,538,387	4.17	-	—	85,328
MYR 11,738,864	-
”	Lincstech Circuit Malaysia Sdn. Bhd.(Note 2)	”	460,639
MYR 63,371,624
(Note 1)	-	-	—	-	-
Lincstech Co., Ltd.	Lincstech America Inc.	Brother company	279,386
JPY 1,357,563,134	3.13	-	—	82,317
JPY 399,988,504	-
Lincstech Circuit Singapore Pte. Ltd.	Lincstech America Inc.	Brother company	159,757
USD 5,247,388	3.46	-	—	USD	-
”	Lincstech Co., Ltd.	”	625,777
USD 20,554,332
(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 NINE MONTHS ENDED SEPTEMBER 30, 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 September 30, 2025	Net Income (Loss) of the Investee	% Ownership of Direct or Indirect Investment	Investment Gain (Loss) (Note 3)	Carrying Amount as of September 30, 2025	Accumulated Repatriation of Investment Income as of September 30, 2025
					Outward	Inward
HannStar Board Tech. (Jiangyin) Corp.	PCB production and sales service	$ 8,645,467 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 -	$ 1,464,573 USD 46,964,329	100	$ 1,464,573 USD 46,964,329	$ 16,426,731 USD539,554,309	$ 2,171,032 USD 71,309,964
GHPW Enterprise Corporation (CQ) Ltd.	Enterprise real estate management	730,680 USD 24,000,000 (Note 2)	- USD -	- USD -	- USD -	- USD -	- USD -	( 9,533) (USD 308,609)	15	( 1,430) (USD 46,291)	88,244 USD 2,898,466	- 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: September 30, 2025 exchange rate at USD : NTD=1 : 30.445

Investment limit in mainland China:

Accumulated Outward Remittance for Investments in Mainland China as of September 30, 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$ 9,225,354 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 33 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 NINE MONTHS ENDED SEPTEMBER 30, 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 September 30, 2025	Net Income (Loss) of the Investee	% Ownership of Direct or Indirect Investment	Investment Gain (Loss) (Note 1)	Carrying Amount as of September 30, 2025	Accumulated Repatriation of Investment Income as of September 30, 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	$ 243,619 USD 7,802,803	100%	$ 243,619 USD 7,802,803	$ 3,615,880 USD 118,767,601	$ -
Yi-Kuan Electronics (Shenzhen) Co., Ltd.	PCB sales service	HKD 52,000,000	#	186,434	-	-	186,434	3,197 USD 102,410	100%	3,197 USD 102,410	270,921 USD 8,898,694	-
Chuan Yi Computer (Chongqing) Co., Ltd	PCB production and sales service	USD 47,000,000	#	1,410,198	-	-	1,410,198	550,045 USD 17,617,223	100%	550,045 USD 17,617,223	4,177,257 USD 137,206,666	-
Jingcheng Yuanmao Electronics Technology (Chongqing) Co., Ltd.	Property management	USD 12,000,000	#	376,540	-	-	376,540	(USD 404,819)	100%	(USD 404,819)	159,656 USD 5,244,088	-
Ever-Precise Recycle Company	Waste recycling and wastewater treatment trafficking	USD 2,100,000	#	43,190	-	-	43,190	30,653 USD 981,760	100%	30,653 USD 981,760	163,845 USD 5,381,665	-
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 308,609)	30%	(USD 92,583)	176,488 USD 5,796,831	-
Kunshan Yuanmong Electronics Technology Co., Ltd	PCB assembly sales service	USD 40,000,000	Reinvest in mainland companies through third region Hong Kong Will Grow Holdings Ltd.	314,776	-	-	314,776	357,650 USD 11,455,073	100%	357,650 USD 11,455,073	2,740,221 USD 90,005,613	-
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	33,249 USD 1,064,914	100%	33,249 USD 1,064,914	852,402 USD 27,998,082	-
Kunshan Yuanmao Electronic Technology Co., Ltd.	PCB sales service	USD 80,000,000	Reinvest in mainland companies through third region Hong Kong Forever Line Ltd.	1,792,238	-	-	1,792,238	214,731 USD 6,877,553	100%	214,731 USD 6,877,553	638,747 USD 20,980,358	-
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.	-	-	-	-	35,746 USD 1,144,887	100%	35,746 USD 1,144,887	276,708 USD 9,088,794	-
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.	-	-	-	-	29,018 USD 929,404	100%	29,018 USD 929,404	187,632 USD 6,162,969	-
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	28,918 USD 926,203	100%	28,918 USD 926,203	83,837) (USD 2,751,728)	-
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.	-	-	-	-	108,736 USD 3,482,670	100%	108,736 USD 3,482,670	2,401,886 USD 78,892,632	-
Jingjia Electronics Technology (Wuhu) Co., Ltd.	Industrial plant rental	USD 19,500,000	#	592,664	-	-	592,664	3,640 USD 116,588	100%	3,640 USD 116,588	465,323 USD 15,284,042	-
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.	-	-	-	-	18,854 USD 603,883	86%	16,215 USD 519,339	917,066 USD 30,122,055	-

(Continued)

Investment limit in mainland China:

Accumulated Outward Remittance for Investments in Mainland China as of September 30, 2025	Investment Amount Authorized by the Investment Commission, MOEA	Upper Limit on the Amount of Investments Stipulated by the Investment Commission, MOEA
$6,712,661	USD 345,961,600
HKD 30,000,001	(Note 4)

Note 1 | The investment gain (loss) are based on the financial statements reviewed by the accountant.
Note 2 | September 30, 2025 exchange rate at USD | NTD = 1 | 30.445

For the nine months ended September 30, 2025 average exchange rate at USD | NTD = 1 | 31.222

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 35 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.

(Concluded)

Table 12

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

INTERCOMPANY RELATIONSHIPS AND SIGNIFICANT INTERCOMPANY TRANSACTIONS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025

(In Thousands of New Taiwan Dollars)

No. (Note 1)	Investee Company	Counterparty	Relationship	Transaction Details
				Financial Statement Accounts	Amount	Payment Terms	% of Total Sales or Assets (Note 2)
0	HannStar Board Corp.	HannStar Board Tech. (Jiangyin) Corp.	Parent company to subsidiary company	Account receivable - related party	$ 167,836	No significant difference with non-related parties	-
〃	〃	〃	〃	Accounts payable-Related party	1,640,132	〃	2
〃	〃	〃	〃	Sales revenue	203,739	〃	-
〃	〃	〃	〃	Cost of goods sold	2,937,714	〃	7
1	Global Brands Manufacture Ltd	GBM ELECTRONICS (M) SDN.BHD.	Subsidiary to subsidiary	Cost of goods sold	488,544	Agreed gross margin based on cost plus	1
〃	〃	〃	〃	Accounts payable-Related parties	251,055	No significant difference with non-related parties	-
〃	〃	Global Brands Manufacture (Dongguan) Ltd.	〃	Cost of goods sold	789,313	Agreed gross margin based on cost plus	2
〃	〃	〃	〃	Accounts payable-Related parties	451,131	No significant difference with non-related parties	-
〃	〃	Chuan Yi Computer (Shenzhen) Co., Ltd.	〃	Cost of goods sold	2,671,660	Agreed gross margin based on cost plus	6
〃	〃	〃	〃	Accounts payable-Related parties	739,522	No significant difference with non-related parties	1
〃	〃	Chuan Yi Computer (Chongqing) Co., Ltd	〃	Cost of goods sold	4,148,010	Agreed gross margin based on cost plus	10
〃	〃	〃	〃	Accounts payable-Related parties	1,856,792	No significant difference with non-related parties	2
〃	〃	Dong Guang CMK Global Brands Manufacture Ltd.	〃	Cost of goods sold	751,633	Agreed gross margin based on cost plus	2

(Continued)

| No.
( Note 1 ) | Investee Company | Counterparty | Relationship | Transaction Details | | | |
| --- | --- | --- | --- | --- | --- | --- | --- |
| | | | | Financial Statement Accounts | Amount | Payment Terms | % of Total Sales or Assets ( Note 2 ) |
| 1 | Global Brands Manufacture Ltd | Dong Guang CMK Global Brands Manufacture Ltd. | Subsidiary to subsidiary | Accounts payable-Related parties | $ 637,083 | No significant difference with non-related parties | 1 |
| 〃 | 〃 | Kunshan Yuansong Electronics Technology Co., Ltd | 〃 | Cost of goods sold | 531,707 | Agreed gross margin based on cost plus | 1 |
| 〃 | 〃 | 〃 | 〃 | Sales revenue | 1,190,161 | 〃 | 3 |
| 〃 | 〃 | 〃 | 〃 | Accounts payable-Related parties | 171,065 | No significant difference with non-related parties | - |
| 〃 | 〃 | 〃 | 〃 | Account receivable - related parties | 126,781 | 〃 | - |
| 2 | Up First Investments Ltd. | Lincstech YGA Co., Ltd. | 〃 | Other receivables - related parties | 413,297 | 〃 | - |
| 〃 | 〃 | CMK Global Brands Manufacture Ltd. | 〃 | Other receivables - related parties | 571,943 | 〃 | 1 |
| 〃 | 〃 | Lincstech Circuit Malaysia Sdn. Bhd. ( Note 4 ) | 〃 | Other receivables - related parties | 2,557,916 | 〃 | 2 |
| 〃 | 〃 | Cheng Cheng Enterprise Co., Ltd. | 〃 | Other receivables - related parties | 220,209 | 〃 | - |
| 3 | Chuan Yi Computer (Shenzhen) Co., Ltd. | Kunshan Xiongqiang Electronics Technology Co., Ltd. | 〃 | Other receivables - related parties | 136,672 | 〃 | - |
| 〃 | 〃 | Dong Guang CMK Global Brands Manufacture Ltd. | 〃 | Cost of goods sold | 271,747 | Agreed gross margin based on cost plus | 1 |
| 〃 | 〃 | 〃 | 〃 | Accounts payable-Related parties | 93,127 | No significant difference with non-related parties | - |
| 4 | Dong Guan Xiangcheng Electronic Technology Co., Ltd. | Global Brands Manufacture (Dongguan) Ltd. | 〃 | Other receivables - related parties | 572,221 | 〃 | 1 |
| 5 | Dong Guang Jin Cheng Electronics Technology Co., Ltd. | Global Brands Manufacture (Dongguan) Ltd. | 〃 | Other receivables - related parties | 117,745 | 〃 | - |
| 6 | Yi-Kuan Electronics (Shenzhen) Co., Ltd. | Chuan Yi Computer (Shenzhen) Co., Ltd. | 〃 | Other receivables - related parties | 260,531 | 〃 | - |
| 7 | Dynamic Skyline Ltd. | Lincstech Circuit Malaysia Sdn. Bhd. ( Note 4 ) | 〃 | Other receivables - related parties | 1,128,927 | 〃 | 1 |

(Continued)

No. (Note 1)	Investee Company	Counterparty	Relationship	Transaction Details
				Financial Statement Accounts	Amount	Payment Terms	% of Total Sales or Assets (Note 2)
7	Dynamic Skyline Ltd.	Up First Investments Ltd.	Subsidiary to subsidiary	Other receivables - related parties	814,404	〃	1
8	Success Ocean Investments Ltd.	Up First Investments Ltd.	〃	Other receivables - related parties	288,497	〃	-
9	GBM ELECTRONICS (M) SDN. BHD.	Lincstech Circuit Malaysia Sdn. Bhd. (Note 4)	Subsidiary to subsidiary	Other receivables - related parties	$ 460,639	No significant difference with non-related parties	-
10	Lincstech Co., Ltd.	Lincstech America Inc.	〃	Sales revenue	413,727	Agreed gross margin based on cost plus	1
〃	〃	〃	〃	Account receivable - related parties	279,386	No significant difference with non-related parties	-
11	Lincstech Circuit Singapore Pte. Ltd	Lincstech America Inc.	〃	Sales revenue	225,317	Agreed gross margin based on cost plus	-
〃	〃	〃	〃	Account receivable - related parties	159,757	No significant difference with non-related parties	-
〃	〃	Lincstech Co., Ltd.	〃	Sales revenue	214,646	Agreed gross margin based on cost plus	-
〃	〃	〃	〃	Account receivable - related parties	37,032	No significant difference with non-related parties	-
				Other receivables - related parties	625,777	〃	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.
(2) Subsidiaries are numbered in sequence starting with Arabic numeral 1 according to company type.

Note 2 : For the calculation of the ratio of the transaction amount to the total consolidated revenue or total assets, if it belongs to the account of assets and liabilities, it shall be calculated in the way that the ending balance accounts for the total consolidated assets; if it belongs to the account of profit and loss, it shall be calculated in the way that the accumulated amount in the period accounts for the total consolidated revenue.

Note 3 : Transactions deemed significant under this table shall be disclosed by the company based on the principle of materiality.

Note 4 : The company was formerly known as ELNA Pcb (M) Sdn. Bhd. and was renamed Lincstech Circuit Malaysia Sdn. Bhd. in October 2025.

(Concluded)

AI assistant

HSB — Interim / Quarterly Report 2025

52477_rns_2026-05-13_a8eb431f-0f89-4aca-8d6e-4d6093f22f5c.pdf

HannStar Board Corporation and Subsidiaries

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

1. GENERAL INFORMATION

2. APPROVAL OF FINANCIAL STATEMENTS

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

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

C. Provisions

a. Warranties

b. Decommissioning and Restoration Obligations

c. Defined Benefit Post-employment Benefits

d. Share-based Payment Arrangements

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

6. CASH AND CASH EQUIVALENTS

7. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS

8. FINANCIAL ASSETS AT AMORTIZED COST

9. NOTES AND ACCOUNTS RECEIVABLE, NET

11. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

12. NON-CURRENT ASSETS HELD FOR SALE

13. SUBSIDIARIES

Information of subsidiaries with significant non-controlling interests

14. INVESTMENTS ACCOUNTED FOR USING EQUITY METHOD

Significant affiliated enterprises

15. PROPERTY, PLANT AND EQUIPMENT

16. LEASE AGREEMENT

(1) Right-of-use assets

17. INVESTMENT PROPERTIES

18. GOODWILL

19. INTANGIBLE ASSETS

20. OTHER ASSETS

21. BORROWINGS

B. Long-term Notes Payable

22. OTHER LIABILITIES

23. PROVISION FOR LIABILITIES

24. RETIREMENT BENEFIT PLANS

25. EQUITY

26. OPERATING REVENUE

27. NET PROFIT FROM CONTINUING OPERATIONS

28. EMPLOYEE BENEFIT EXPENSES

29. REMUNERATION OF EMPLOYEES AND DIRECTORS

30. INCOME TAX

(2) Income tax examination

31. EARNINGS PER SHARE

32. BUSINESS COMBINATIONS

(1) Subsidiaries acquired

(2) Consideration transferred

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

33. CAPITAL MANAGEMENT

34. FINANCIAL INSTRUMENTS

(1) Fair value information

B. Credit risk

C. Liquidity risk

35. TRANSACTIONS WITH RELATED PARTIES

(6) Endorsement guarantee

(7) Compensation of key management personnel

36. ASSETS PLEDGED AS COLLATERAL

37. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED COMMITMENTS

38. OTHER EVENTS

2nd domestic unsecured convertible bonds

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

40. SEPARATELY DISCLOSED ITEMS

41. SEGMENT INFORMATION

Segment revenue and results

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

HANNSTAR BOARD CORPORATION AND SUBSIDIARIES

INFORMATION ON INVESTEES

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025

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

FINANCING PROVIDED TO OTHERS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025

HSB Interim / Quarterly Report 2025