Stock Code 2477

Meiloon Industrial Co., Ltd.

2026 Annual Meeting of Shareholders

Handbook

for the Annual Meeting of Shareholders

Meeting Time: June 26, 2026

Meeting Place: No. 300, Sec. 1, Zhuangjing Rd., Taoyuan Dist., Taoyuan City (Monarch Plaza Hotel)

Meiloon Industrial Co., Ltd.

2026 Annual Meeting of Shareholders
Table of Contents

I、Meeting Procedure ... 1
II、Meeting Agenda ... 2
III、Reporting Matters ... 3
IV、Recognition Matters ... 4
V、Extempore Motion ... 5
VI、Adjournment ... 5

一、2025 Business Report ... 6
二、Audit Committee Approval Report ... 11
三、Independent Auditors’ Report ... 12
四、2025 Financial Statements ... 22
五、Articles of Incorporation ... 32
六、Rules of Procedure for Shareholder Meetings ... 39
七、Current Shareholding of Directors ... 43

Meiloon Industrial Co., Ltd.

Procedure for the 2026 Annual Meeting of Shareholders

一、Call the meeting to order
二、Chairperson Remarks
三、Reporting Matters
四、Recognition Matters
五、Extempore Motion
六、Adjournment

Meiloon Industrial Co., Ltd.
Agenda of 2026 Annual Meeting of Shareholders

一、Time: June 26, 2026, Friday 9:00 a.m.
二、Place: No. 300, Sec. 1, Zhuangjing Rd., Taoyuan Dist., Taoyuan City (Monarch Plaza Hotel)
三、Conducted by: physical shareholders meeting
四、Chairperson Remarks
五、Reporting Matters
(一)、2025 Business Report
(二)、Audit Committee’s review report on 2025 Financial Statements
(三)、Distribution of 2025 Remuneration of Employees and Directors
(四)、The Distribution of Cash Dividend to Shareholders from 2025 Earnings.
(五)、The Loaning of Company and subsidiary Funds.
六、Recognition Matters
(1). 2025 Business Report and Financial Statements
(2). Proposal for Distribution of 2025 Profit
七、Extempore Motion
八、Adjournment

III. Reporting Matters

Report No. 1

Topic: 2025 Business Report

Description: Please refer to for 2025 Business Report.

Report No. 2

Topic: Audit Committee’s Review Report on 2025 Financial Statements

Description: Please refer to for Audit Committee Approval Report.

Report No. 3

Topic: Distribution of 2025 Remuneration of Employees and Directors

Description: The 2025 Earnings before Remuneration of Employees and Directors and taxes are NT$ 334,795,953, in which 1% and 2% are provided for directors and employee’s compensation, which are NT$ 3,348,000 and NT$ 6,696,000 respectively. And 30% of the employee remuneration amount are NT$2,009,000 for the distribution of remuneration to grassroots employees, and all will be made by cash. The above distributed amounts are the same as the expensing of directors and employee’s compensation.

Report No. 4

Topic: The Distribution of Cash Dividend to Shareholders from 2025 Earnings.

Description: In accordance with the Article 28 of Articles of Incorporation, the Company authorizes the Board of Directors to make a resolution on the cash dividend distribution of the year, the amount of cash dividends and payout date for 2023 are as follows:

Unit: New Taiwan Dollar

Period	Board Resolution Date	Cash dividend payout date	Cash dividends per share	Total cash dividends
2025	2026/3/11	2026/5/25	1.4	222,002,542

Report No. 5

Topic: The Loaning of Company and subsidiary Funds.

Description: In accordance with the Operational Procedures for Loaning of Company Funds and Making of Endorsements / Guarantees, the loaning funds of the Company and its subsidiaries as of December 31, 2025 was no instance of funds being loaned out.

IV. Recognition Matters

Proposal 1

Topic: 2025 Business Report and Financial Statements. (by the Board)

Description: (1) The 2025 parent company only and consolidated Financial Statements (including Balance Sheet, Statements of Comprehensive Income, Statements of Changes in Equity and Statements of Cash Flows) have been audited by the accountants Chang Jung-Chih and Shih Wen-Wan from PKF Taiwan and the unqualified audit reports have been issued. Please refer to and .

(2) The above Financial Statements have been approved by the Board and submitted together with Business Report to the Audit Committee for review, with the Approval Report in the appendix. Please refer to and .

(3) Please approve it.

Resolution:

Proposal 2

Topic: Proposal for Distribution of 2024 Profit. (by the Board)

Description: (1) The 2025 net profit after tax is NT$ 266,687,865. After setting aside the legal reserve of 10% of net profit after tax, the available amount is NT$ 1,689,106,193 and the proposed distributions are as follows:

Meiloon Industrial Co., Ltd.
Profit Distribution Table
Year 2025

Unit: New Taiwan Dollar

Item	Amount
Beginning unappropriated earnings	1,439,771,882
Add: 2025 net profit after tax	266,687,865
Changes in remeasurements of defined benefit plans for the period	10,350,258

Subtotal	1,716,810,005
Less: Provision 10% legal reserve	(27,703,812)
Distributable net profit	1,689,106,193
Less: Distributable Items
Cash dividends: NT$1.4 per share	(222,002,542)
Ending unappropriated retained earnings balance	1,467,103,651
Note: 2025 Unappropriated retained earnings will be distributed first.

Chairman: Wu Ming-Shien Manager: Wu Tan-Chih Accounting Supervisor: Kuo Li-Jung

(2) The cash dividend per share is calculated based on the outstanding shares of 158,573,244 shares as of March 11, 2026 and is rounded down to the nearest New Taiwan Dollar. The total of its fractional amount less than NT$1 is recognized under the shareholder's equity.

(3) Please approve it.

Resolution:

V. Extempore Motion

VI. Adjournment

<Appendix 1> 2025 Business Report

Meiloon Industrial Co., Ltd. 2025 Business Report

In 2026, the international political and economic landscape presents several challenges. Besides the fluctuating US tariff policies and uncertainties in negotiations, the escalating conflict with Iran exacerbates geopolitical risks and further drives up energy, transportation, and overall supply chain costs. Simultaneously, the appreciation of Asian currencies and the continued rise in raw material prices place multiple pressures on business operations. In response to these challenges, the Group's primary strategy is to continuously adjust its export structure and market allocation to diversify risks and strengthen overall competitiveness.

We have grasped the trend of this international production base relocation, actively expanding our global business layout and continuously increasing the proportion of production capacity in Indonesia, moving towards the group's overall target of $40\%$ . Our China plant is positioned as the core production base for pilot production and high-complexity processes, Taiwan continues to focus on key technology R&D and quality management, and Indonesia serves as the main base for high-efficiency, rapid assembly. Through the integration of the advantages of the division of labor in these three locations and the optimization of operational efficiency, we are confident in maintaining steady growth in a highly uncertain international environment and creating long-term, sustainable value for our shareholders.

2025 Business Report is as follows:

Result of Implementation of Business Plan

Based on a comprehensive assessment of our overall operating performance in 2025, the net operating revenue amounted to NT$2,498,658 thousand, Decreased by 5.3% from 2024; the net income after tax was NT$254,244 thousand, with a rise of 9.3% compared with that of NT$232,617 thousand in 2024, indicating a increase of NT$21,627 thousand.

Execution of the Budget: The Company did not announce a 2025 financial forecast.
Analysis of the Company's financial income and expenditure and its profitability

Unit: In Thousands of New Taiwan Dollars

Net Income for 2025	254,244
Net Income for 2024	232,617
Total variance (favorable)		21,627
variance analysis:
decrease in sales revenue	(140,820)
Less: decrease in cost of goods sold	(93,903)
= Gross profit variance (unfavorable)		(46,917)
2025 Operating Expense	499,040

| Less: 2024 Operating Expense
= Operating expense variance (favorable) | 556,650 | 57,610 |
| --- | --- | --- |
| 2025 net non-operating income | 183,339 | |
| Less: 2024 net non-operating income
= net non-operating income variance (unfavorable) | 215,253 | |
| 2025 Income tax expense | (68,505) | (31,914) |
| Less: 2024 Income tax expense
= Income tax expense variance (favorable) | (111,353) | 42,848 |
| Total variance (favorable) | | 21,627 |

4. R&D

Our developed products for 2025 are as follows:

Item	Result of R&D	Performance Description
1	The customer's TAOT requires compliance with military-grade environmental reliability requirements, specifically MIL-STD-810 testing conditions for outdoor/transportation/extreme climate.	I. For military-grade testing requirements
•High temperature (501.5)
•Low temperature (502.5)
•Temperature shock (503.5)
•Humidity (507.5)
•Rain (506.5)
•Vibration (514.6)
•Mechanical shock (516.6)

II. Technological Achievements / Mechanical Design
•Corrosion-resistant materials are introduced into aluminum alloys/stainless steel.
•Surface treatment anodizing/coating
•Selection of moisture-proof and weather-resistant materials
•Salt spray resistance
•Waterproof structure |
| 2 | 360-degree horn used in police cars for disaster prevention | I. Complete sound coverage (360° horizontally) reduces the "blind spots" of traditional one-way speakers.
II. Waterproof, dustproof (IP rating), UV resistant/anti-aging material.
III. Vibration resistant (vehicle movement) and shock resistant (emergency situations).
IV. Roof/Side Quick Mounting Module. |
| 3 | Develop a mobile control app | I. Enhance end-customer experience and perceived product value
Users can directly use their mobile phones to search for devices, control parameters, monitor status, switch settings, adjust volume, and perform daily operations, improving the ease of use and overall system integrity of the product, thereby enhancing the added value of the product and the brand image.
II. Promote subsequent functional expansion and |

| | | platform development
Using a mobile app as the human-computer interface platform for the product allows for continuous expansion of related functions within the existing hardware and firmware architecture, such as EQ scene settings, control parameter synchronization, and sound effect correction, thereby reducing the marginal cost of subsequent function development and enhancing product scalability. |
| --- | --- | --- |
| 4 | Develop a single-point measurement Room Correction algorithm | I. Strengthen the company's own core technology capabilities
By developing its own room correction algorithm, the company can accumulate R&D capabilities in acoustic compensation, digital signal processing, and spatial correction, establish its own technological barriers, and enhance its market competitiveness.
II. Improve functionality and ease of use
By integrating the Room Correction algorithm into a mobile app, the measurement and correction process can be performed directly using the built-in microphone and computing resources of a smartphone. Users do not need to purchase additional measurement equipment to complete basic spatial correction tasks, which helps to lower the barrier to entry and improve the applicability of the function. |
| 5 | Wireless Guitar system (6.35 mm TX/RX) | Say goodbye to tangled cables and experience true wireless freedom! This product is plug-and-play, connecting instantly upon power-on, requiring no complicated setup. Featuring ultra-low latency of less than 4ms and a stable transmission distance of up to 21 meters (approximately 70 feet), it allows for unrestricted movement on stage or in rehearsal rooms. Supporting up to 4 channels simultaneously, it enables wireless performances for the entire orchestra. The 180° adjustable hinge plug perfectly accommodates various guitars, and combined with 2.4GHz wireless technology, it ensures a stable and reliable connection. High-fidelity sound up to 24-bit/48kHz delivers clear and detailed sound; plus, up to 6 hours of battery life and USB-C fast charging—fully charged in 2 hours—make every performance worry-free. |
| 6 | Wireless XLR Audio system (XLR TX/RX) | Free yourself from the constraints of cables and let your sound soar! This wireless XLR audio system, designed specifically for dynamic microphones, is truly plug-and-play. Simply connect your microphone to the transmitter and the receiver to your PA, mixer, or audio interface |

		to start your wireless performance instantly. No complicated setup or extra equipment is required; connection is completed instantly upon power-on, making it incredibly easy to use. Equipped with stable and reliable 2.4GHz wireless transmission technology, it offers a transmission distance of up to 21 meters (approximately 70 feet), ensuring uninterrupted performances whether on stage or in the street. Up to 24-bit/48kHz audio quality and a dynamic range exceeding 100dB deliver clear and pure sound details; plus, up to 6 hours of battery life and a USB-C fast charging design, it fully charges in about 2 hours, allowing you to focus on your performance without limitations.
7	Studio Monitor Speaker system	Compact size, powerful performance – delivering a professional-grade desktop audio experience. This miniature monitor speaker system integrates multiple input interfaces, supporting TRS, Bluetooth 5.3, and USB Audio for easy connection to various audio source devices. Built-in Analog Devices 56-bit audio DSP and dual Class-D high-efficiency power amplifiers, it provides up to 50W RMS output, delivering clear, detailed, and layered sound. Supporting Subwoofer Pre-Out, it can flexibly expand into a 2.1 channel system to meet richer low-frequency demands. With three built-in EQ modes and Melon's proprietary app adjustment functions, the sound can be customized to precisely suit various usage scenarios. Whether for music creation, audio-visual entertainment, or everyday listening, it delivers a stable, convenient, and high-quality audio experience.
8	Fosi S3 Wireless Streaming Player	The Fosi S3 features dual-band Wi-Fi 6 and Bluetooth 5.3, providing a stable and high-speed wireless streaming experience, and supports mainstream platforms such as Spotify Connect, TIDAL Connect, AirPlay 2, and Google Cast. It incorporates an AK4493SEQ DAC, supporting decoding up to 32-bit/384kHz, and paired with an OPA1612 op-amp, achieving 0.0002% THD+N and a 120dB signal-to-noise ratio, delivering pure and delicate sound quality. Supporting HDMI eARC, it can be connected to a TV and used as a digital preamplifier, easily creating a 2.1 channel system. Integrating streaming player and DAC preamplifier functions, it provides complete input/output interfaces and can be intuitively controlled via a mobile app. It can be directly used with power amplifiers or active speakers to present a clear, transparent, and high-quality sound experience with excellent detail and soundstage.
9	PG REACTOR CONTROL Wireless Guitar Amplifier Foot Pedal	This product is a dedicated smart foot switch controller for REACTOR guitar amplifiers,

	Controller	offering 6 customizable foot switches for enhanced operational flexibility during performances. It also supports Spark App connectivity to build a complete digital tone control platform. Furthermore, it features dual TRS pedal expansion capabilities to meet advanced control needs, and boasts a long battery life of up to 150 hours on a single charge, comprehensively improving ease of use and product competitiveness.

Chairman: Wu Ming-Shien Manager: Wu Tan-Chih Accounting Supervisor:Kuo Li-Jung

< Appendix 2 > Audit Committee Approval Report

Meiloon Industrial Co., Ltd.

Audit Committee Approval Report

The Audit Committee has approved the 2025 Financial Statements, Business Report and the Distribution of Profits decided by the Board. The 2025 Financial Statements have been audited by PKF Taiwan which was appointed by the Board and the accountants have issued the unqualified audit report on the 2022 Financial Statements.

The Audit Committee are responsible for overseeing the financial reporting process of the Company.

The matters of 2025 Financial Statements communicated between the certified public accountants and the Audit Committee are as follows:

There were no material matters found under the scope of audit and time period planned by the certified public accountants.
The certified public accountants provide the Audit Committee with a statement that they have complied with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China regarding independence, and there are no other relationships and matters that may reasonably be thought to bear on our independence being found.
From the key audit matters communicated, the certified public accountants and Audit Committee have decided (1) sales revenue recognition and (2) inventory valuation are key audit matters.

The Audit Committee has approved the 2025 Financial Statements, Business Report and the Distribution of Profits decided by the Board, all in compliance with applicable regulations, and prepared the report in accordance with Article 14-4 of the Securities and Exchange Act and the Article 219 of the Company Act for your review and approval.

Meiloon Industrial Co., Ltd. 2026 Annual Meeting of Shareholders

Meiloon Industrial Co., Ltd.

Convener of the Audit Committee: Wong Yao-Lin

March 11, 2026

Independent Auditors' Report

To Meiloon Industrial Co., Ltd.

Opinion

We have audited the accompanying parent company only financial statements of Meiloon Industrial Co., Ltd., which comprise the Parent Company Only Balance Sheets as of December 31, 2025 and 2024, and the Parent Company Only Statements of Comprehensive Income, Changes in Equity, Cash Flows for the years then ended, and the notes to the parent company only financial statements, including a summary of significant accounting policies from January 1 to December 31, 2025, and 2024.

In our opinion, based on our audit results and auditor's report by other auditors (please refer to the Other Matters section), the accompanying parent company only financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and its financial performance and its cash flows from January 1 to December 31, 2025 and 2024 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers.

Basis for Opinion

We conducted our audits in accordance with the 「Regulations Governing Financial Statement Audit and Attestation Engagements of Certified Public Accountants」and auditing standards in the Republic of China. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Parent Company Only Financial Statements section of our report. We are independent of Meiloon Industrial Co., Ltd. in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Based on our audit results and other auditors' reports, we believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the parent company only financial statements for the year ended December 31, 2025. These matters were addressed in the context of our audit of the parent company only financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. The key audit matters that, in our judgment,

should be communicated on the audit report are as follows:

I. Recognition of Sales Revenue

Please refer to Note 4.15 of the Parent Company Only Financial Statements for the accounting policy on revenue recognition, Note 5.1 thereof for uncertainty regarding accounting estimates and assumptions for revenue recognition and Note 6.18 thereof for the description of revenue recognition.

1. Description of key audit matters:

Under the sales pattern of Meiloon Industrial Co. Ltd., it is mainly to deliver goods to customers directly by its manufacturing facilities in accordance with the agreed trade terms, and revenue is recognized when all performance obligations are met and control of the goods has transferred. However, the timing of revenue recognition may be inappropriate due to the fact that the goods have not yet been actually delivered or the ownership of inventory and the risk of loss and control of the goods have not yet been transferred due to different terms and conditions under individual sales contracts. Therefore, we have identified the cut-off and recognition of sales revenue as an area of critical concern in our audit.

2. Our principal audit procedures with respect to the above key audit matters included the following:

We asked the regulatory authorities about the information to understand and review the procedures for recognizing sales revenue and apply them consistently during the period in which the financial statements were compared.
We understood and tested the effectiveness of the design and execution of internal controls over sales revenue.
We verified various documents for periods before and after the financial statement date to determine that sales, sales returns, and sales allowances have been properly closed.
We conducted spot checks on factory shipment documents and sales orders to confirm the correctness of the transaction conditions and the timing of revenue recognition.

II. Valuation of Inventories

Please refer to Note 4.6 of the Parent Company Only Financial Statements for the accounting policy on inventories, refer to Note 5.2 thereof for the accounting estimates and assumptions uncertainties of inventory valuation; refer to Note 6.5 for the description of recognition of inventories.

1. Description of key audit matters:

The value of inventories may be affected by fluctuations in market demand, resulting in losses due to stagnation or obsolescence. When such inventories become outdated or

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prices decline, the cost of such inventories may not be recovered. As the determination of the possibility of impairment involves subjective judgments by management, we have identified the reasonableness of the evaluation of inventory valuation losses as an area of critical concern in our audit.

Our principal audit procedures with respect to the above key audit matters included the following:

(1) We asked the regulatory authorities about the information to understand and review the procedures for provision for allowance for inventory valuation losses and apply them consistently during the period in which the financial statements were compared.

(2) We compared and analyzed the difference between the provision for allowance for inventory valuation losses in previous years and the actual occurrence of write-offs or offsets, and evaluate the reasonableness of the provision policy for allowance for inventory valuation losses.

(3) We verified the appropriateness of the inventory aging report system logic used by management to determine that obsolete inventory items beyond a certain age have been recognized in the statements.

(4) We evaluated the reasonableness of obsolete or damaged inventory items identified individually by management and check them with relevant supporting documents.

(5) We conducted spot checks on the most recent sale or purchase price of inventories at the end of the period to confirm that the inventories have been valued at the lower of cost or net realizable value.

Others

The above parent company financial statements, about the years 2025 and 2024, PT.MEILOON TECHNOLOGY INDONESIA is invested company accounted for under the equity method, have not been audited by us but by other auditor. Therefore, in our opinion on the financial statements referred to above, the information regarding the aforementioned investments accounted for using the equity method and the shares of profit(loss) of subsidiaries, associates and joint ventures recognized using the equity method, and the related information on the reinvestment business were based on the reports of the other auditors. The aforementioned investments accounted for using the equity method as of December 31, 2025 and 2024 amounted to NT$910,350 thousand and NT$945,035 thousand, respectively, accounting for 10.74% and 10.98% of total asset respectively as of December 31, 2025 and 2024. The aforementioned shares of profit(loss) of subsidiaries, associates and joint ventures recognized using the equity method for the years 2025 and 2024 were NT$4,357 thousand and NT$(4,921) thousand, respectively, accounting for 14.48% and (0.98%) of total comprehensive income of the current period.

Responsibilities of Management and Those Charged with Governance for the Parent Company Only Financial Statements

Management is responsible for the preparation and fair presentation of the parent company only financial statements in accordance with the Regulations Governing the

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

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

Those charged with governance (including members of the Audit Committee) of Meiloon Industrial Co., Ltd. are responsible for overseeing the Company’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Parent Company Only Financial Statements

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

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

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

Evaluate the overall presentation, structure and content of the parent company only financial statements, including the disclosures, and whether the parent company only financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient and appropriate audit evidence regarding the financial information of investments accounted for using equity method by the invested company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the audit. We remain solely responsible for our audit opinion.

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

We also provide those charged with governance with a statement that we have complied with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China regarding independence, and communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significant in our audit of the parent company only financial statements of Meiloon Industrial Co., Ltd. for the year ended 2025 and are therefore the key audit matters. In our auditor’s report, we describe these matters unless law or regulation precludes public disclosure about the specific matter or when, in extremely rare circumstances, we determine that such matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

PKF Taiwan

Accountant Chang Jung-Chih

Accountant Shih Wen-Wan

Approval Certificate No. by Securities and Futures Bureau, Financial Supervisory Commission, R.O.C. (formerly the Securities and Futures Commission, Ministry of Finance, R.O.C.): Financial Supervisory Commission No. 1030006182 Letter (90) Taiwan-Finance-Securities (VI) No. 145560 Letter

March 11, 2026

Independent Auditors' Report

To Meiloon Industrial Co., Ltd.

Opinion

We have audited the accompanying consolidated financial statements of Meiloon Industrial Co., Ltd. and its subsidiaries (“Meiloon Group”), which comprise the Consolidated Statement of Balance Sheet as of December 31, 2025 and 2024, and the Consolidated Statements of Comprehensive Income, Changes in Equity, Cash Flows for the years then ended, and the notes to the consolidated financial statements, including a summary of significant accounting policies from January 1 to December 31, 2025 and 2024.

In our opinion, based on our audit results and other auditors’ reports (please refer to the Other Matters section), the aforementioned consolidated financial statements present fairly, in all material respects, the consolidated financial position of Meiloon Group as of December 31, 2025 and 2024, and its consolidated financial performance and its consolidated cash flows from January 1 to December 31, 2025 and 2024 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), Interpretations developed by the International Financial Reporting Interpretations Committee (IFRIC) or the former Standing Interpretations Committee (SIC) endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China.

Basis for Opinion

We conducted our audits in accordance with the ‘Regulations Governing Financial Statement Audit and Attestation Engagements of Certified Public Accountants’ and auditing standards in the Republic of China. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of Meiloon Group, in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Based on our audit results and other auditors’ reports, we believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

The key audit matters are those matters that, in our professional judgment, were most significant in our audit of the consolidated financial statements of Meiloon Group for the year ended 2025. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming an audit opinion thereon, and we do not express a separate opinion on these matters. The key audit matters that, in our judgment, should be communicated on the audit report are as follows:

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I. Recognition of Sales Revenue

Please refer to Note 4.16 of the Consolidated Financial Statements for the accounting policy on revenue recognition, Note 5.1 thereof for uncertainty regarding accounting estimates and assumptions for revenue recognition and refer to Note 6.20 thereof for the description of revenue recognition.

Description of key audit matters:

Under the sales pattern of Meiloon Group, it is mainly to deliver goods to customers directly by its manufacturing facilities in accordance with the agreed trade terms, and revenue is recognized when all performance obligations are met and control of the goods has transferred. However, the timing of revenue recognition may be inappropriate due to the fact that the goods have not yet been actually delivered or the ownership of inventory and the risk of loss and control of the goods have not yet been transferred due to different terms and conditions under individual sales contracts. Therefore, we have identified the cut-off and recognition of sales revenue as an area of critical concern in our audit.

Our principal audit procedures with respect to the above key audit matters included the following:

(1) We asked the regulatory authorities about the information to understand and review the procedures for recognizing sales revenue and apply them consistently during the period in which the financial statements were compared.

(2) We understood and tested the effectiveness of the design and execution of internal controls over sales revenue.

(3) We verified various documents for periods before and after the financial statement date to determine that sales, sales returns, and sales allowances have been properly closed.

(4) We conducted spot checks on factory shipment documents and sales orders to confirm the correctness of the transaction conditions and the timing of revenue recognition.

II. Valuation of Inventories

Please refer to Note 4.7 of the Consolidated Financial Statements for the accounting policy on inventories; refer to Note 5.2 thereof for the accounting estimates and assumptions uncertainties of inventories; refer to Note 6.5 for the description of recognition of inventories.

Description of key audit matters:

The value of inventories may be affected by fluctuations in market demand, resulting in losses due to stagnation or obsolescence. When such inventories become outdated or prices decline, the cost of such inventories may not be recovered. As the determination of the possibility of impairment involves subjective judgments by management, we have identified the reasonableness of the evaluation of inventory valuation losses as an area of critical concern in our audit.

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Our principal audit procedures with respect to the above key audit matters included the following:

(4) We evaluated the reasonableness of obsolete or damaged inventory items identified individually by management and check them with relevant supporting documents.

Other Matters - Reference to Other Auditors' Reports

The financial statements of PT. MEILOON TECHNOLOGY INDONESIA, a subsidiary included in the aforementioned consolidated financial statements, have not been audited by us, but by other auditors. Therefore, in our opinion on the consolidated financial statements referred to above, the amounts included in the subsidiary's financial statements and the related information regarding the reinvestment business were based on the reports of the other auditors. The total assets of the subsidiary as of December 31, 2025 and 2024 amounted to NT$1,377,267 thousand and NT$1,256,607 thousand, respectively, accounting for 16.58% and 15.16% of the total consolidated assets. The operating revenue for the year ended December 31, 2025 and 2024 were NT$0 thousand and NT$23 thousand, accounting for 0% of the net consolidated operating revenue.

Other Matters - Individual Financial Reports

Meiloon Industrial Co., Ltd. has prepared its individual financial reports for the years 2025 and 2024, on which we have issued an unmodified opinion, including audit on other matters, for information purposes.

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

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of

19 -

Financial Reports by Securities Issuers and IFRS, IAS, Interpretations developed by IFRIC or the former SIC endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

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

Those charged with governance (including the Audit Committee) of Meiloon Group are responsible for overseeing the financial reporting process.

Auditor's Responsibilities for the Audit of the Consolidated Financial Statements

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

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

Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Meiloon Group's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on Meiloon Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the
20 -

consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause Meiloon Group to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient and appropriate audit evidence regarding the financial information of the entities within the group, in order to express an opinion on the consolidated financial statements. We are responsible for direction, supervision, and performance of the group audit, and we remain solely responsible for our audit opinion.

From the matters communicated with those charged with governance, we determine those matters that were of most significant in our audit of the consolidated financial statements of Meiloon Group for the year ended 2025 and are therefore the key audit matters. In our auditor's report, we describe these matters unless law or regulation precludes public disclosure about the specific matter or when, in extremely rare circumstances, we determine that such matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

PKF Taiwan

Accountant Chang Jung-Chih

Accountant Shih Wen-Wan

March 11, 2026

2025 Financial Statements

Meiloon Industrial Co., Ltd.

PARENT COMPANY ONLY BALANCE SHEET

December 31, 2025 and 2024

Code	ASSETS	Note	2025.12.31		2024.12.31		Code	LIABILITIES AND EQUITY	Note	2025.12.31		2024.12.31
			Amount	%	Amount	%				Amount	%	Amount	%
11XX	Current assets						21XX	Current liabilities
1100	Cash and cash equivalents	4 and 6.1	$ 130,479	1.54	$ 385,172	4.47	2100	Short-term borrowings	6.11 and 8	$ 1,305,800	15.41	$ 1,092,800	12.69
1110	Current financial assets measured at fair value through profit or loss	4 and 6.2	71,987	0.85	71,177	0.83	2150	Notes payable		367		618	0.01
							2170	Accounts payable		4,990	0.06	4,825	0.06
1136	Current financial assets at amortized cost	4, 6.3 and 8	1,100,915	12.99	928,388	10.78	2180	Accounts payable - related parties	7	1,631,130	19.24	1,615,785	18.77
							2200	Other payables		67,636	0.80	67,261	0.78
1150	Notes receivable, net	4 and 6.4	842	0.01	842	0.01	2230	Current income tax liabilities	4 and 6.14	33,744	0.40	78,760	0.91
1170	Accounts receivable, net	4 and 6.4	333,984	3.94	387,219	4.50	2280	Current lease liabilities	4 and 6.9	-	-	1,200	0.01
1180	Accounts receivable -related parties, net	4, 6.4 and 7	1,651	0.02	561	0.01	2322	Long-term borrowings, current portion	6.12 and 6.20	137,070	1.62	166,651	1.94
130X	Inventories, net	4 and 6.5	6,779	0.08	9,944	0.12	2399	Other current liabilities, others	7	69,357	0.82	16,712	0.20
1410	Prepayments		5,809	0.07	5,154	0.05		Total current liabilities		3,250,094	38.35	3,044,612	35.37
1470	Other current assets		12,851	0.15	20,455	0.24	25XX	Non-current liabilities
	Total current assets		1,665,297	19.65	1,808,912	21.01	2540	Long-term borrowings	6.12 and 6.20	495,574	5.85	607,922	7.06
							2572	Deferred income tax liabilities, income tax	4 and 6.14	529,946	6.25	569,616	6.62
							2612	Long-term payables		814	0.01	814	0.01
							2630	Long-term deferred revenue	4 and 6.12	316	-	3,185	0.03
							2640	Net defined benefit liability, non-current	4 and 6.13	-	-	8,494	0.10
							2645	Guarantee deposits received		1,577	0.02	1,577	0.02
								Total non-current liabilities		1,028,227	12.13	1,191,608	13.84
							2XXX	Total liabilities		4,278,321	50.48	4,236,220	49.21
								EQUITY	6.15
15XX	Non-current assets						3100	Share capital
1517	Non-current financial assets measured at fair value through other comprehensive income	4 and 6.6	-	-	-	-	3110	Common stock		1,585,732	18.71	1,585,732	18.42
							3200	Capital surplus
1550	Investments accounted for using equity method	4 and 6.7	6,117,175	72.18	6,071,156	70.52	3210	Capital surplus, additional paid-in capital		5	-	5	-
1600	Property, plant and equipment	4, 6.8 and 8	293,801	3.47	335,664	3.90	3220	Capital surplus, treasury stock transactions		3,924	0.05	3,924	0.04
1755	Right-of-use assets	4 and 6.9	-	-	-	-	3250	Capital surplus, donated assets received		16	-	16	-
1760	Investment property, net	4, 6.10 and 8	267,305	3.15	267,520	3.11	3260	Capital surplus, changes in equity of investment in associates		1,957	0.02	1,957	0.02
1780	Intangible assets, net	4	1,729	0.02	2,731	0.03		and joint ventures accounted for using equity method
1840	Deferred income tax assets	4 and 6.14	123,996	1.46	122,361	1.42	3270	Capital surplus, premium from merger		382	-	382	-
1920	Refundable deposits		10	0.00	910	0.01	3300	Retained earnings
1975	Net defined benefit asset - non-current	4 and 6.13	5980	0.07			3310	Legal reserve		886,053	10.46	861,928	10.01
							3320	Special reserve		2,820	0.03	16,849	0.20
							3350	Unappropriated retained earnings		1,716,810	20.26	1,656,013	19.24
	Total non-current assets		6,809,996	80.35	6,800,342	78.99	3400	Other equity
							3410	Exchange differences on translation of foreign financial statements	4	(727)	(0.01)	246,228	2.86
							3XXX	Total equity		4,196,972	49.52	4,373,034	50.79
1XXX	TOTAL ASSETS		$ 8,475,293	100.00	$ 8,609,254	100.00		TOTAL LIABILITIES AND EQUITY		$ 8,475,293	100.00	$ 8,609,254	100.00

(Please refer to Notes and Schedules to Financial Statements)

Chairman: Wu Ming-Shien

Manager: Wu Tan-Chin

Accounting Supervisor: Kuo Li-Jung

Meiloon Industrial Co., Ltd.

PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME

January 1 to December 31, 2025 and 2024

Unit: (In Thousands of New Taiwan Dollars, Except Earnings Per Share that are in New Taiwan Dollars)

Code	Account Item	Note	2025		2024
			Amount	%	Amount	%
4000	Net operating revenue	4, 6.18 and 7	$ 1,853,949	100.00	$ 2,232,641	100.00
5000	Operating costs	7	1,641,018	88.51	2,009,069	89.99
5900	Gross profit		212,931	11.49	223,572	10.01
6000	Operating expenses		245,761	13.24	262,494	11.75
6100	Selling expenses		49,169	2.64	58,202	2.60
6200	Administrative expenses		120,577	6.50	131,079	5.87
6300	R&D expenses		76,015	4.10	73,213	3.28
6900	Operating losses		(32,830)	(1.75)	(38,922)	(1.74)
7000	Non-operating revenue and expenses
7100	Interest income	6.19	54,542	2.94	69,801	3.13
7010	Other income	6.20 and 7	30,110	1.62	15,606	0.70
7020	Other gains and losses	6.21 and 7	(45,170)	(2.44)	20,950	0.94
7050	Finance costs	6.22	(37,711)	(2.04)	(40,883)	(1.84)
7055	Expected credit loss gain (loss)	4 and 6.4	984	0.05	(979)	(0.04)
7375	Share of profit (loss) of associates and joint ventures accounted for using equity method	4 and 6.7
			354,827	19.14	285,329	12.78
	Total non-operating income and expenses		357,582	19.27	349,824	15.67
7900	Net income before tax		324,752	17.52	310,902	13.93
7950	Income tax (expenses) benefits:	4 and 6.14	(58,064)	(3.13)	(72,959)	(3.27)
8200	Net income for the period		266,688	14.39	237,943	10.66
8300	Other comprehensive income (loss)
8310	Items that will not be reclassified to profit or loss
8311	Gains (losses) on remeasurements of defined benefit plans	4 and 6.13	12,938	0.70	4,139	0.19
8349	Income tax related to items that will not be reclassified to profit or loss	4 and 6.14	(2,588)	(0.14)	(827)	(0.04)
			10,350	0.56	3,312	0.15
8360	Items that may be reclassified to profit or loss
8381	Exchange differences on translation of foreign financial statements of subsidiaries, associates and joint ventures		(308,694)	(16.65)	328,846	14.73
8399	Income tax related to items that may be reclassified to profit or loss	4 and 6.14	61,739	3.33	(65,769)	(2.95)
			(246,955)	(13.32)	263,077	11.78
	Other comprehensive income (loss) for the period (net of tax)		(236,605)	(12.76)	266,389	11.93
8500	Total comprehensive income (loss) for the period		$ 30,083	1.63	$ 504,332	22.59
9750	Basic earnings per share	4 and 6.16	$ 1.68		$ 1.50
9850	Diluted earnings per share	4 and 6.16	$ 1.68		$ 1.50

(Please refer to Notes and Schedules to Financial Statements)

Chairman: Wu Ming-Shien

Manager: Wu Tan-Chin

Accounting Supervisor: Kuo Li-Jung

January 1 to December 31, 2025 and 2024

Meiloon Industrial Co., Ltd.

PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY

Unit: In Thousands of New Taiwan Dollars

Item	Share capital	Capital surplus					Retained earnings			Other equity	Total
		Capital premium	Treasury stock transactions	Donated assets received	Use the equity method to calculate changes in the collective equity net assets of	Merger premium	Legal reserve	Special reserve	Unappropriated retained earnings	Exchange differences on translation of foreign financial statements
Balance on January 1, 2024	$ 1,585,732	$ 5	$ 3,924	$ 16	$ 1,957	$ 382	$ 858,232	$ 2,820	$ 1,511,769	$ (16,849)	$ 3,947,988
Appropriation and distribution of retained earnings for 2023:
Legal reserve	-	-	-	-	-	-	3,696	-	(3,696)	-	-
Special reserve	-	-	-	-	-	-	-	14,029	(14,029)	-	-
Cash dividends - NT$0.5 per share	-	-	-	-	-	-	-	-	(79,286)	-	(79,286)
Net Income for 2024	-	-	-	-	-	-	-	-	237,943	-	237,943
Other comprehensive income (loss) for 2024 (net of tax)
Gains (losses) on remeasurements of defined benefit plans	-	-	-	-	-	-	-	-	3,312	-	3,312
Increase in exchange differences on translation of foreign financial statements	-	-	-	-	-	-	-	-	-	263,077	263,077
Total comprehensive income (loss) for 2024	-	-	-	-	-	-	-	-	36,952	(26,518)	10,434
Balance on December 31, 2024	1,585,732	5	3,924	16	1,957	382	861,928	16,849	1,656,013	246,228	4,373,034
Appropriation and distribution of retained earnings for 2024:
Legal reserve	-	-	-	-	-	-	24,125	-	(24,125)	-	-
Special reserve	-	-	-	-	-	-	-	(14,029)	14,029	-	-
Cash dividends - NT$1.3 per share	-	-	-	-	-	-	-	-	(206,145)	-	(206,145)
Net Income for 2025	-	-	-	-	-	-	-	-	266,688	-	266,688
Other comprehensive income (loss) for 2025 (net of tax)
Gains (losses) on remeasurements of defined benefit plans	-	-	-	-	-	-	-	-	10,350	-	10,350
Decrease in exchange differences on translation of foreign financial statements	-	-	-	-	-	-	-	-	-	(246,955)	(246,955)
Total comprehensive income (loss) for 2025	-	-	-	-	-	-	-	-	277,038	(246,955)	30,083
Balance on December 31, 2025	$ 1,585,732	$ 5	$ 3,924	$ 16	$ 1,957	$ 382	$ 886,053	$ 2,820	$ 1,716,810	$ (727)	$ 4,196,972

(Please refer to Notes and Schedules to Financial Statements)

Chairman: Wu Ming-Shien

Manager: Wu Tan-Chin

Accounting Supervisor: Kuo Li-Jung

Meiloon Industrial Co., Ltd.

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

January 1 to December 31, 2025 and 2024

Unit: In Thousands of New Taiwan Dollars

	2025	2024
Cash flows from operating activities:
Net income before tax for the period	$ 324,752	$ 310,902
Adjustments:
Adjustments to reconcile profit (loss)
Depreciation expense	23,623	28,259
Amortization expense	2,351	5,962
Expected credit loss (gain) losses	(984)	979
Interest expense	37,711	40,883
Interest income	(54,542)	(69,801)
Dividend income	(3,610)	(2,199)
Prepayments for business facilities transferred to expenses	-	204
Other income	(2,869)	(6,919)
Gain on lease modification	(1,200)	-
Income on disposal and abandonment of property, plant and equipment, net	-	(54)
Impairment loss on property, plant and equipment	36,013	-
Gain on disposal of investments accounted for using equity method	(264)	-
Share of profit (loss) of associates and joint ventures accounted for using equity method	(354,827)	(285,329)
Changes in assets and liabilities related to operating activities
Increase in financial assets measured at fair value through profit or loss	(810)	(7,964)
Increase in notes receivable	-	(4)
Decrease in accounts receivable	54,219	3,778
Decrease (increase) in accounts receivable - related parties	(1,090)	6,134
Decrease in inventories	3,165	60,511
Decrease (increase) in prepayments	(655)	107
Decrease (increase) in other current assets	(877)	2,580
Decrease in notes payable	(251)	(1,429)
Increase (decrease) in accounts payable	165	(3,678)
Increase in accounts payable - related parties	15,345	189,890
Increase (decrease) in other accounts payable	(47)	26
Increase in other current liabilities	52,645	2,140
Decrease in net defined benefit liability	(1,536)	(677)
Cash inflow (outflow) generated from operations	126,427	274,301
Interest received	63,023	77,788
Dividends received	3,610	2,199
Interest paid	(34,420)	(34,336)
Income tax refund	-	646
Income tax paid	(85,234)	(66,585)
Net cash generated by (used in) operating activities	73,406	254,013

(Carried forward)

(Brought forward)

Cash flows from investing activities:

Acquisition of financial assets measured at amortized cost	(3,235,505)	(1,873,255)
Disposal of financial assets measured at amortized cost	3,062,978	2,057,141
Acquisition of property, plant and equipment	(17,558)	(4,556)
Disposal of property, plant and equipment	-	32,012
Acquisition of investment property	-	(119,729)
Disposal of investments using the equity method	378	-
Acquisition of intangible assets	(1,349)	(541)
Decrease in refundable deposits	900	310
Receiving dividends from investments using the equity method	-	156,185
Net cash generated by (used in) investing activities	(190,156)	247,567

Cash flows from financing activities:

Increase in short-term borrowings	7,066,200	8,253,000
Decrease in short-term borrowings	(6,853,200)	(8,201,000)
Proceeds from long-term borrowings	72,000	304,000
Repayments of long-term borrowings	(216,798)	(450,340)
Increase in guarantee deposits received	-	90
Cash dividends distributed	(206,145)	(79,286)
Repayments of lease principal	-	(13)
Net cash outflow from financing activities	(137,943)	(173,549)
Increase (decrease) in cash and cash equivalents for the period	(254,693)	328,031
Balance of cash and cash equivalents, beginning of year	385,172	57,141
Balance of cash and cash equivalents, end of year	$ 130,479	$ 385,172

(Please refer to Notes and Schedules to Financial Statements)

Chairman: Wu Ming-Shien

Manager: Wu Tan-Chin

Accounting Supervisor: Kuo Li-Jung

Meiloon Industrial Co., Ltd. and its subsidiaries

Consolidated Statement of Balance Sheet

December 31, 2025 and 2024

Unit: In Thousands of New Taiwan Dollars

Code	ASSETS	Note	2025.12.31		2024.12.31		Code	LIABILITIES AND EQUITY	Note	2025.12.31		2024.12.31
			Amount	%	Amount	%				Amount	%	Amount	%
11XX	Current assets						21XX	Current liabilities
1100	Cash and cash equivalents	4 and 6.1	$ 2,456,382	29.58	$ 1,965,727	23.71	2100	Short-term borrowings	6.13 and 8	$ 1,395,660	16.81	$ 1,092,800	13.18
1110	Current financial assets measured at fair value through profit or loss	4 and 6.2	383,044	4.61	354,342	4.27	2133	Unearned revenue		107,504	1.29	63,911	0.77
							2150	Notes payable		367	0.00	618	0.01
1136	Current financial assets at amortized cost	4 and 6.3	1,321,227	15.91	1,791,536	21.61	2170	Accounts payable		383,230	4.61	466,472	5.63
							2200	Other payables		112,033	1.35	116,723	1.41
1150	Notes receivable, net	4 and 6.4	842	0.01	842	0.01	2230	Current tax liabilities	4 and 6.16	35,098	0.42	81,743	0.99
1170	Accounts receivable, net	4 and 6.4	525,689	6.33	543,396	6.56	2280	Current lease liabilities	4 and 6.9	923	0.01	2,091	0.02
1220	Current tax assets	4 and 6.16	643	0.01	3,321	0.04	2322	Long-term borrowings, current portion	6.14, 6.22 and 8	161,017	1.94	166,651	2.01
130X	Inventories, net	4 and 6.5	550,038	6.62	561,730	6.77	2399	Other current liabilities, others		16,216	0.20	29,723	0.36
1410	Prepayments		179,138	2.16	120,454	1.45		Total current liabilities		2,212,048	26.63	2,020,732	24.38
1470	Other current assets		28,405	0.34	57,264	0.69	25XX	Non-current liabilities
	Total current assets		5,445,408	65.57	5,398,612	65.11	2540	Long-term borrowings	6.14, 6.22 and 8	651,627	7.85	607,922	7.33
							2551	Non-current provisions for employee benefits	4	182,126	2.19	170,881	2.06
							2572	Deferred income tax liabilities, income tax	4 and 6.16	536,844	6.46	569,616	6.87
							2580	Non-current lease liabilities	4 and 6.9	-	-	922	0.01
							2612	Long-term payables		126,399	1.52	125,819	1.52
							2630	Long-term deferred revenue	6.14	53,577	0.65	57,614	0.69
15XX	Non-current assets						2640	Net defined benefit liability, non-current	4 and 6.15	5,954	0.07	16,082	0.19
1517	Non-current financial assets measured at fair value through other comprehensive income	4 and 6.6	-	-	-	-	2645	Guarantee deposits received		4,498	0.06	4,495	0.06
								Total non-current liabilities		1,561,025	18.80	1,553,351	18.73
1535	Non-current financial assets measured at amortized cost	4	31,430	0.38	32,785	0.40	2XXX	Total liabilities		3,773,073	45.43	3,574,083	43.11
1550	Investments accounted for using equity method	4 and 6.7	6,114	0.07	8,424	0.10	31XX	Equity attributable to owners of the parent	6.17
1600	Property, plant and equipment	4, 6.8 and 8	1,523,479	18.35	1,602,114	19.32	3100	Share capital
1755	Right-of-use assets	4 and 6.9	19,038	0.23	20,751	0.25	3110	Common stock		1,585,732	19.10	1,585,732	19.13
1760	Investment property, net	4, 6.10 and 8	1,030,660	12.41	994,502	11.99	3200	Capital surplus
1780	Intangible assets, net	4 and 6.11	9,289	0.11	10,736	0.13	3210	Capital surplus, additional paid-in capital		5	-	5	-
1840	Deferred income tax assets	4 and 6.16	135,824	1.64	126,387	1.52	3220	Capital surplus, treasury stock transactions		3,924	0.05	3,924	0.05
1915	Prepayments for business facilities		60,761	0.73	57,236	0.69	3250	Capital surplus, donated assets received		16	-	16	-
1920	Refundable deposits		1,871	0.02	2,855	0.04	3260	Capital surplus, changes in equity of investment in associates and joint ventures accounted for using equity method		1,957	0.02	1,957	0.02
1937	Overdue receivables, net	4 and 6.4	-	-	-	-
1960	Current prepayments for investments	6.12	31,430	0.38	32,785	0.40	3270	Capital surplus, premium from merger		382	0.01	382	-
1975	Net defined benefit asset - non-current	4 and 6.15	5,980	0.07
1995	Other non-current assets, others		3,695	0.04	4,113	0.05	3300	Retained earnings
	Total non-current assets		2,859,571	34.43	2,892,688	34.89	3310	Legal reserve		886,053	10.67	861,928	10.40
							3320	Special reserve		2,820	0.03	16,849	0.20
							3350	Unappropriated retained earnings		1,716,810	20.67	1,656,013	19.97
							3400	Other equity	4
							3410	Exchange differences on translation of foreign financial statements		(727)	(0.01)	246,228	2.97
							36XX	Non-controlling interests	6.17	334,934	4.03	344,183	4.15
							3XXX	Total equity		4,531,906	54.57	4,717,217	56.89
1XXX	TOTAL ASSETS		$ 8,304,979	100.00	$ 8,291,300	100.00	1XXX	TOTAL LIABILITIES AND EQUITY		$ 8,304,979	100.00	$ 8,291,300	100.00

(Please refer to Notes and Schedules to the Consolidated Financial Statements)

Chairman: Wu Ming-Shien

Manager: Wu Tan-Chin

Accounting Supervisor: Kuo Li-Jung

Meiloon Industrial Co., Ltd. and its subsidiaries
Consolidated Statement of Comprehensive Income
January 1 to December 31, 2025 and 2024
Unit: In Thousands of New Taiwan Dollars
(Earnings per share in New Taiwan dollars)

Code	Account Item	Note	2025		2024
			Amount	%	Amount	%
4000	Operating revenue	4, 6.20 and 7	$ 2,498,658	100.00	$ 2,639,478	100.00
5000	Operating costs		1,860,208	74.45	1,954,111	74.03
5900	Gross profit		638,450	25.55	685,367	25.97
6000	Operating expenses		499,040	19.97	556,650	21.09
6100	Selling expenses		120,455	4.82	164,614	6.24
6200	Administrative expenses		254,617	10.19	274,642	10.40
6300	R&D expenses		123,968	4.96	117,394	4.45
6900	Operating income		139,410	5.58	128,717	4.88
7000	Non-operating revenue and expenses
7100	Interest income	6.21	139,211	5.57	179,275	6.79
7010	Other income	6.22 and 7	74,988	3.00	108,905	4.13
7020	Other gains and losses	6.23	32,701	1.31	(22,514)	(0.85)
7050	Finance costs	6.24	(42,252)	(1.69)	(45,278)	(1.72)
7055	Expected credit losses	4 and 6.4	(19,093)	(0.76)	(5,218)	(0.20)
7060	Share of profit (loss) of associates and joint ventures accounted for using equity method	4 and 6.7	(2,216)	(0.09)	83	-
	Total non-operating income and expenses		183,339	7.34	215,253	8.15
7900	Net income before tax		322,749	12.92	343,970	13.03
7950	Income tax expense	4 and 6.16	(68,505)	(2.74)	(111,353)	(4.22)
8200	Net income for the period		254,244	10.18	232,617	8.81
8300	Other comprehensive income (loss)
8310	Items that will not be reclassified to profit or loss
8311	Gains (losses) on remeasurements of defined benefit plans	4 and 6.15	12,938	0.52	4,139	0.16
8349	Income tax related to items that will not be reclassified to profit or loss	4 and 6.16	(2,588)	(0.11)	(827)	(0.03)
			10,350	0.41	3,312	0.13
8360	Items that may be reclassified to profit or loss
8361	Exchange differences on translation of foreign financial statements		(331,860)	(13.28)	338,459	12.82
8371	Exchange differences on translation of foreign financial statements of associates and joint ventures	4 and 6.7	68	-	(301)	(0.01)
8399	Income tax related to items that may be reclassified to profit or loss	4 and 6.16	61,739	2.47	(65,769)	(2.49)
			(270,053)	(10.81)	272,389	10.32
	Other comprehensive income (loss) for the period (net of tax)		(259,703)	(10.40)	275,701	10.45
8500	Total comprehensive income (loss) for the period		$ (5,459)	(0.22)	$ 508,318	19.26
8600	Net profit attributable to:
8610	Owners of the parent		$ 266,688		$ 237,943
8620	Non-controlling interests		(12,444)		(5,326)
			$ 254,244		$ 232,617
8700	Total comprehensive income is attributable to:
8710	Owners of the parent		$ 30,083		$ 504,332
8720	Non-controlling interests		(35,542)		3,986
			$ (5,459)		$ 508,318
9750	Basic earnings per share	4 and 6.18	$ 1.68		$ 1.50
9850	Diluted earnings per share	4 and 6.18	$ 1.68		$ 1.50

(Please refer to Notes and Schedules to the Consolidated Financial Statements)

Chairman: Wu Ming-Shien

Manager: Wu Tan-Chin

Accounting Supervisor: Kuo Li-Jung

Meiloon Industrial Co., Ltd. and its subsidiaries

Consolidated Statement of Changes in Equity

January 1 to December 31, 2025 and 2024

Unit: In Thousands of New Taiwan Dollars

Item	Share capital	Capital surplus					Retained earnings			Other equity	Total	Non-controlling interests	Total equity
		Capital premium	Treasury stock transactions	Donated assets received	Use the equity method to calculate changes in the collective equity net assets of affiliated enterprises	Merger premium	Legal reserve	Special reserve	Unappropriated retained earnings	Exchange differences on translation of foreign financial statements
Balance on January 1, 2024	$ 1,585,732	$ 5	$ 3,924	$ 16	$ 1,957	$ 382	$ 858,232	$ 2,820	$ 1,511,769	$ (16,849)	$ 3,947,988	$ 340,197	$ 4,288,185
Appropriation and distribution of retained earnings for 2023:
Legal reserve	-	-	-	-	-	-	3,696	-	(3,696)	-	-	-	-
Special reserve	-	-	-	-	-	-	-	14,029	(14,029)	-	-	-	-
Cash dividends - NTS0.5 per share	-	-	-	-	-	-	-	-	(79,286)	-	(79,286)	-	(79,286)
Net income (loss) for 2024	-	-	-	-	-	-	-	-	237,943	-	237,943	(5,326)	232,617
Other comprehensive income (loss) for 2024 (net of tax)
Gains (losses) on remeasurements of defined benefit plans	-	-	-	-	-	-	-	-	3,312	-	3,312	-	3,312
Increase in exchange differences on translation of foreign financial statements	-	-	-	-	-	-	-	-	-	263,077	263,077	9,312	272,389
Total comprehensive income (loss) for 2024	-	-	-	-	-	-	-	-	241,255	263,077	504,332	3,986	508,318
Balance on December 31, 2024	1,585,732	5	3,924	16	1,957	382	861,928	16,849	1,656,013	246,228	4,373,034	344,183	4,171,217
Appropriation and distribution of retained earnings for 2024:
Legal reserve	-	-	-	-	-	-	24,125	-	(24,125)	-	-	-	-
Special reserve	-	-	-	-	-	-	-	(14,029)	14,029	-	-	-	-
Cash dividends - NTS1.3 per share	-	-	-	-	-	-	-	-	(206,145)	-	(206,145)	-	(206,145)
Net income (loss) for 2025	-	-	-	-	-	-	-	-	266,688	-	266,688	(12,444)	254,244
Other comprehensive income (loss) for 2025 (net of tax)
Gains (losses) on remeasurements of defined benefit plans	-	-	-	-	-	-	-	-	10,350	-	10,350	-	10,350
Decrease in exchange differences on translation of foreign financial statements	-	-	-	-	-	-	-	-	-	(246,955)	(246,955)	(23,098)	(270,053)
Total comprehensive income (loss) for 2025	-	-	-	-	-	-	-	-	277,038	(246,955)	30,083	(35,542)	(5,459)
Increase in non-controlling interests	-	-	-	-	-	-	-	-	-	-	26,293	26,293	26,293
Balance on December 31, 2025	$ 1,585,732	$ 5	$ 3,924	$ 16	$ 1,957	$ 382	$ 886,053	$ 2,820	$ 1,716,810	$ (727)	$ 4,196,972	$ 334,934	$ 4,531,906

(Please refer to Notes and Schedules to the Consolidated Financial Statements)

Chairman: Wu Ming-Shien

Manager: Wu Tan-Chin

Accounting Supervisor: Kuo Li-Jung

Meiloon Industrial Co., Ltd. and its subsidiaries

Consolidated Statement of Cash Flows

January 1 to December 31, 2025 and 2024

	Unit: In Thousands of New Taiwan Dollars
	2025	2024
Cash flows from operating activities:
Net income before tax for the period	$ 322,749	$ 343,970
Adjustments:
Adjustments to reconcile profit (loss)
Depreciation expense	144,927	136,087
Amortization expense	3,266	7,050
Reversal of expected credit losses	19,093	5,218
Interest expense	42,252	45,278
Interest income	(139,211)	(179,275)
Dividend income	(3,610)	(2,199)
Loss on disposal and abandonment of property, plant and equipment, net	14,527	28
Gain on disposal of investment property	-	(20,276)
Prepayments for business facilities transferred to expenses	-	204
Property, plant and equipment transferred to expense	-	9
Impairment loss on property, plant and equipment	21,519	-
Gain on lease modification	(1,200)	-
Other income	(2,869)	(6,919)
Impairment loss on non-financial assets	-	74,367
Share of profit (loss) of associates and joint ventures accounted for using equity method	2,216	(83)
Changes in assets and liabilities related to operating activities
Increase in financial assets measured at fair value through profit or loss	(28,702)	(82,386)
Increase in notes receivable	-	(4)
Increase in accounts receivable (including overdue receivables)	(1,369)	(118,116)
Decrease in inventories	11,692	18,574
Decrease(Increase) in prepayments	(58,684)	659
Decrease in other current assets	14,862	12,631
Increase in contract liabilities	43,593	25,815
Decrease in notes payable	(251)	(1,429)
Increase (decrease) in accounts payable	(83,242)	102,998
Decrease in other payables	(5,884)	(16,660)
Increase (decrease) in other current liabilities	(13,507)	14,504
Increase (decrease) in long-term deferred revenue	(1,168)	11,049
Increase (decrease) in long-term payables	580	(30,415)
Increase in provisions for employee benefits	11,245	15,316
Increase (decrease) in net defined benefit liability	(3,170)	2,021
Cash inflow generated from operations	309,654	358,016
Interest received	153,208	190,672
Dividends received	3,610	2,199
Interest paid	(38,145)	(34,064)
Income tax refund	489	1,041
Income tax paid	(96,074)	(90,891)
Net cash inflow operating activities	332,742	426,973

(Carried forward)

(Brought forward)

Cash flows from investing activities:

Acquisition of financial assets measured at amortized cost	(4,500,193)	(3,691,372)
Disposal of financial assets measured at amortized cost	4,935,398	4,324,700
Acquisition of property, plant and equipment	(138,778)	(80,228)
Disposal of property, plant and equipment	377	32,066
Acquisition of investment property	(90,908)	(129,913)
Disposal of investment property	-	47,472
Acquisition of intangible assets	(1,604)	(615)
Increase in prepayments for business facilities	(8,288)	(3,627)
Decrease in refundable deposits	984	220
Net cash generated by (used in) investing activities	196,988	498,703

Cash flows from financing activities:

Increase in short-term borrowings	7,156,060	8,253,000
Decrease in short-term borrowings	(6,853,200)	(8,201,000)
Proceeds from long-term borrowings	252,000	304,000
Repayments of long-term borrowings	(216,798)	(450,340)
Increase in guarantee deposits received	3	197
Cash dividends distributed	(206,145)	(79,286)
Repayments of lease principal	(907)	(942)
Change in non-controlling interests	26,293	-
Net cash inflow (outflow) from financing activities	157,306	(174,371)
Effect of exchange rate changes on cash and cash equivalents	(196,381)	231,637
Increase in cash and cash equivalents for the period	490,655	982,942
Balance of cash and cash equivalents, beginning of year	1,965,727	982,785
Balance of cash and cash equivalents, end of year	$ 2,456,382	$ 1,965,727

(Please refer to Notes and Schedules to the Consolidated Financial Statements)

Chairman: Wu Ming-Shien

Manager: Wu Tan-Chin

Accounting Supervisor: Kuo Li-Jung

Articles of Incorporation

Meiloon Industrial Co., Ltd.
Articles of Incorporation

Section I General Provisions

Article 1: The name of the company is MEILOON INDUSTRIAL CO., LTD. (美隆工業股份有限公司) (the "Company"), which is duly organized as a company limited by shares under the Company Act of Taiwan. (English name is MEILOON INDUSTRIAL CO., LTD.).

Article 2: The business to be operated by the company is as follow:

Manufacturing, processing and trading of electrical equipment and its parts.
Manufacturing, processing and trading of electronic product, electronic parts and components.
Manufacturing and trading of computer systems and their peripheral equipment.
Import, export and agency business of the aforementioned products and their raw materials.
All business not prohibited or restricted by law, except for those subject to special approval.
F401021 Restrained Telecom Radio Frequency Equipments and Materials Import.
CC01101 Restrained Telecom Radio Frequency Equipments and Materials Manufacturing.

Article 3: The Company may act as a guarantor and may invest in other companies for business purpose. The total investment amount by the Company may exceed 40% of paid in capital of the Company.

Article 4: The headquarters of the Company is located in Taoyuan City, Taiwan. The Company may establish or close branches or subsidiaries or factories in Taiwan or overseas upon resolution by the Board of Directors of the Company ("Board" or "Board of Directors")

Article 5: The company's announcement method shall be handled in accordance with Article 28 of the Company Act.

Section II Shares

Article 6: The registered capital of the Company shall be three billion New Taiwan Dollars (NT$3,000,000,000), divided into 300 million (300,000,000) shares, with a par value of ten New Taiwan Dollars (NT$10) per share. The Board of Directors is authorized to issue unissued shares in multiple offerings. The company may issue

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employee stock option certificates, and reserve nine million shares in the aforementioned total shares as shares for issuing employee stock option certificates.

Article 6-1: The Company may issue employee stock options at a stock price lower than the market price, or less than the net value per share, with the consent of the shareholders' meeting representing more than half of the total number of issued shares and the presence of more than two-thirds of the shareholders' voting rights. The employee stock options may be issued in installments within one year from the date of resolution of the shareholders meeting.

Article 6-2: The Company may repurchase treasury shares at a price lower than the actual average price of repurchased shares and transfer them to employees, provided that it is executed in accordance with relevant laws and the approval of the shareholders meeting.

Article 7: The Company may be exempted from preparing physical share certificate, but shall be subject to the registration at Taiwan Depository and Clearing Corporation.

Article 8: The Company handles its shareholder services in accordance with the "Regulations Governing the Administration Shareholder Services of Public Companies" promulgated by the competent authority.

Article 9: No transfers of shares shall be handled within sixty (60) days before the date of each annual meeting, thirty (30) days before the date of each special meeting, or five (5) days before the date for the distribution of dividends, bonuses, or other interests.

Section III Shareholders' Meeting

Article 10: There are two types of shareholders' meeting of the Company, the annual meeting and special meeting.

Article 11: The notice of meeting shall be given to the shareholders at least thirty (30) days prior to an annual meeting, and, at least fifteen (15) days prior to a special meeting.

Article 12: Shareholders have one voting right per share, except that the Company has no voting right under the regulation pursuant to Article 179 of the Company Act.

Article 13: The shareholders' meetings shall be presided by the Chairman of the Board. If the Chairman of the Board is unable to be present, the Chairman can appoint one of the Directors as the deputy. If the Chairman does not appoint a deputy, directors shall elect one person from among themselves to serve as chair.

Article 14: Unless otherwise provided by relevant regulations, a meeting of shareholders shall proceed only if attended by shareholders representing more than one-half of

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the total number of issued shares of the Company. Resolutions of a shareholders meeting shall be made at the meeting with the concurrence of a majority of the votes held by the shareholders present at the meeting.

Article 15: A shareholder who is unable to attend the shareholders meeting may authorize another person to attend as proxy, by sending the form provided by the Company affixed with the seal and with scope of proxy to the Company by 5 days prior to the date of shareholders meeting for Company's safekeeping. A shareholder may only execute one power of attorney and appoint one proxy only. When a person who acts as the proxy for two or more shareholders, the number of voting power represented by him/her shall not exceed 3% of the total number of voting shares of the Company, otherwise, the portion of excessive voting power shall not be counted.

Section IV Directors and Audit Committee

Article 16: The Company shall have nine to thirteen Directors, who shall be elected from legally competent persons at the shareholders meeting and hold office for three years; re-elected Directors may serve consecutive terms. There shall be at least three independent Directors among the number of Directors to be elected referred to above, and the independent Directors shall represent at least one-fifth of the Board. The independent Directors shall be elected at the shareholders' meeting using the candidate nomination system and from among a list of candidates. The restrictions on professional qualifications, share ownership, concurrent positions held, the manner of nomination, the election of the independent Directors, and other related matters shall comply with applicable laws and regulations prescribed by the competent securities authority. A corporate shareholder may be elected as a director by its representative, and if there are several representatives, they may be elected separately, and the corporate shareholder may reassign any representative at any time to make up the original term. Except for the approval by the competent authority, more than half of the seats shall not be held by spouses or relatives within the second degree of the Directors. After the Company's public offering of shares, the total shareholding ratio of all directors shall be in accordance with the regulations of the securities competent authority.

Article 16-1: The Company may purchase liability insurance for Directors within the scope of their business.

Article 16-2: As pursuant to the provisions of Article 14-4, of the Securities and Exchange Act, the Company set up the Audit Committee with the entire number of independent Directors. The number, term of office, powers and rules of procedure for meetings of the audit committee shall be stipulated in the audit committee charter

34 -

in accordance with “Regulations Governing the Exercise of Powers by Audit Committees of Public Companies”.

Article 17: The Board of Directors is organized by the directors; the Board of Directors shall elect a chairman of the Board among the Directors by a majority vote at a meeting attended by over two-thirds of the Directors, and the Chairman of the Board represents the Company externally. If the Chairman of the Board is on leave or cannot exercise his/her powers and duties for any reason, a deputy shall be appointed pursuant to the regulations of the Company Act.

Article 18: The duties of the Board is as follows:

Review and supervision of annual business plan.
Review of annual budget and financial statements.
Proposal for profits distribution or deficit compensation plan to offset company losses.
Proposal for capital increase/decrease plan.
Proposal for approval of material capital expenditure plans with the amount accounted for 10% of capital or more.
Proposal for approval of branch set-up or closure.
Proposal for amendment of the Company’s Articles of Incorporation.
Proposal for approval of significant contracts and material capital expenditure plans with the amount accounted for 10% of capital or more.
Proposal for approval of the investment in other business or transfer of shares of the investment business.
Approval for significant transactions between the Company and the related parties.
Appointment, dismissal and transfer of personnel in the positions of vice-president or above.
Purchase or disposal of significant assets.
Review and stipulation of significant policies and regulations.
Other powers authorized by regulations and shareholders meeting.

Article 19: The Board shall convene board meeting once every three months, and the subjects for the convening shall be stated in the notice. The directors shall be notified seven days prior to the date of the board meeting by letters, telegrams, telexes or e-mails. Upon emergency, the meeting can be convened at any time.

Article 20: Unless otherwise provided for in the Company Act, the Chairman is responsible for convening the board meeting and be presided in the board meeting. If the Chairman of the Board is on leave or cannot exercise his/her powers and duties for any reason, the Chairman can appoint one of the Directors as the deputy. If the Chairman does not appoint a deputy, directors shall

35 -

elect one person from among themselves to serve as chair.

Article 21: Unless otherwise provided for in the Company Act, resolutions of a board meeting shall be made at the meeting with the concurrence of a majority of the votes held by of the directors present at the meeting.

Article 22: A director who is unable to attend the board meeting may authorize another director to attend as proxy. A director may appoint one proxy only.

Section V Manager

Article 23: The company can appoint a chief executive officer, several general managers of business divisions, and deputy general managers by the resolution of the Board. The relevant term of office and powers shall be handled in accordance with Article 31 of the Company Act.

Section VI Accounting

Article 24: The fiscal year of the Company shall be from January 1 to December 31.

Article 25: The Company's Board of Directors shall prepare the following reports after the end of each fiscal year and forward them to the Audit Committee for audit 30 days prior to the date of annual shareholders meeting. The above-mentioned reports shall forward to the annual shareholders meeting for approval.

Business Report.
Financial Statements.
Proposal for profit distribution or deficit compensation.

Article 26: Cash dividends are given priority in the distribution of dividends of the Company, and the ratio of stock dividends distributed is not more than 50% of the total dividends.

Article 27: If there is profit at the end of each fiscal year, Directors' remuneration is no more than 2% of profit of the current year and employees' compensation shall be no less than 2% of profit of the current year. However, the Company's accumulated losses shall be offset first.

Of the employee remuneration amount referred to in the preceding paragraph, no less than thirty percent shall be set aside for the distribution of remuneration to grassroots employees

Article 28: If there is a surplus in the annual accounts, the Company shall first pay taxes and offset accumulated losses in previous years and then set aside 10% as legal reserve, except when the legal reserve has reached the total amount of capital. After setting aside the special reserve as required by law, if there is still a surplus, the Board of Directors shall prepare a proposal for distribution and submit it to the shareholders' meeting for resolution.

36 -

The distribution of dividends and bonuses of the Company shall be governed by Paragraph 5 of Article 240 of the Company Act. If the cash dividends are distributed from its legal reserve or additional paid-in capital regulated, in whole or in part, by Paragraph 1 of Article 241 of the Company Act, the proposal of the cash dividends distribution should be resolved with majority vote with two thirds of the Directors present. The resolution shall report to shareholders meeting.

Section VII Supplementary Provisions

Article 29: The Company's organizational regulations and working rules shall be separately formulated.

Article 30: Any matters not specified in the Articles of Incorporation shall be handled in accordance with the Company Act.

Article 31: The Articles of Incorporation were formulated on December 21, 1972.

The 1st amendment was made on January 9, 1973.

The 2nd amendment was made on February 14, 1973.

The 3rd amendment was made on March 22, 1978.

The 4th amendment was made on October 20, 1978.

The 5th amendment was made on November 19, 1979.

The 6th amendment was made on June 10, 1981.

The 7th amendment was made on February 12, 1989.

The 8th amendment was made on December 5, 1989.

The 9th amendment was made on May 14, 1990.

The 10th amendment was made on June 30, 1990.

The 11th amendment was made on December 9, 1992.

The 12th amendment was made on April 29, 1994.

The 13th amendment was made on April 10, 1995.

The 14th amendment was made on September 2, 1995.

The 15th amendment was made on December 30, 1996.

The 16th amendment was made on June 5, 1997.

The 17th amendment was made on June 22, 1997.

The 18th amendment was made on July 10, 1997.

The 19th amendment was made on July 30, 1997.

The 20th amendment was made on June 27, 1998.

The 21th amendment was made on June 25, 1999.

The 22th amendment was made on May 15, 2000.

The 23th amendment was made on April 30, 2001.

The 24th amendment was made on April 30, 2001.

The 25th amendment was made on June 10, 2002.

The 26th amendment was made on June 16, 2003.

The 27th amendment was made on June 16, 2003.

The 28th amendment was made on June 29, 2004.

The 29th amendment was made on June 28, 2005.

The 30th amendment was made on June 19, 2006.

37 -

The 31th amendment was made on June 30, 2008.
The 32th amendment was made on June 16, 2009.
The 33th amendment was made on June 25, 2010.
The 34th amendment was made on June 24, 2013.
The 35th amendment was made on June 23, 2014.
The 36th amendment was made on June 23, 2016.
The 37th amendment was made on June 24, 2020.
The 38th amendment was made on June 23, 2022.
The 39th amendment was made on June 27, 2024.
The 40th amendment was made on June 25, 2025

Meiloon Industrial Co., Ltd.

Chairman: Wu Ming-Shien

38 -

<Appendix 6> Rules of Procedure for Shareholder Meetings

Meiloon Industrial Co., Ltd.

Rules of Procedure for Shareholder Meetings

June 27, 1998

Amendment on June 24, 2015

Unless otherwise specified by law, the Company’s shareholders meetings shall proceed according to the Rules.
A shareholder can appoint another person as proxy to attend the shareholders meeting, by using the power of attorney provided by the Company. The power of attorney shall describe the scope of the proxy.

A shareholder may only execute one power of attorney and appoint one proxy only. The power of attorney should be delivered to the Company 5 days prior to the date of shareholders meeting. The first receipt of power of attorney shall prevail if there are two or more proxies from the same shareholder delivered to the Company, except for an explicit statement to revoke the previous written proxy.

After the power of attorney is delivered to the Company, shareholders who wish to attend the shareholders meeting in person or exercise their voting rights in writing or electronically shall notify the Company in writing of the revocation of the power of attorney two days prior to the date of the shareholders meeting; otherwise, the voting rights exercised by the proxy shall prevail.

The attendance shall be represented based on the attendance cards submitted by the shareholders present. The number of shares represented is calculated based on the submitted attendance cards.

The attendance and resolution is calculated based on the Company’s shares. The number of shares represented during the meeting is calculated based on the total number registered in the attendance log or the submitted attendance cards plus the number of shares with voting rights exercised in writing or through electronic means.
The location of shareholders meeting shall be at the Company’s current location or a location where is convenient for shareholders to attend. The meeting shall not commence earlier than 9 a.m. or later than 3 p.m.
If a shareholders meeting is convened by the Board of Directors, the meeting shall be chaired by the Chairman of the Board. When the Chairman of the Board is on leave or for any reason unable to exercise the powers of the Chairman, the Vice Chairman shall act in place of the Chairman; if there is no Vice Chairman or the Vice Chairman is also on leave or for any reason unable to exercise the powers of the Vice Chairman, the Chairman shall appoint one of the Managing Directors to act as the chair, or, if there are no Managing Directors, one of the Directors shall be appointed to act as chair. Where the Chairman does not make such a designation, the Managing Directors or the Directors shall select

from among themselves one person to serve as chair. For shareholders meetings convened by any authorized party other than the Board of Directors, the convener will act as the meeting chair.

The Company may designate the appointed lawyer, accountant or related personnel to attend the shareholders meeting. Organizers of the shareholders meeting must wear proper identification or arm badges.
The Company shall make an audio or video recording of the proceedings of the shareholders meeting, and the recordings shall be kept for at least 1 year.
The chair shall announce the commencement of the meeting as soon as the appointed time arrives. However, if those in attendance represent less than half of the Company’s current outstanding shares, the chair may announce to postpone the meeting up to two times, for a period totaling no more than 1 hour. If the meeting has been postponed two times but the shareholders present still do not represent a third of the total amount of issued shares, a tentative resolution may be adopted in accordance with Paragraph 1 of Article 175 of the Company Act. Before the end of the meeting, if the number of shares represented by the shareholders reaches more than half of the total number of issued shares, the chair shall present the tentative resolutions to be resolved by the shareholders meeting in accordance with Article 174 of the Company Act.
If a shareholders meeting is convened by the Board of Directors, the meeting agenda shall be set by the Board of Directors. The meeting shall proceed in the order set by the agenda, which may not be changed without a resolution of the shareholders meeting. The provisions of the preceding paragraph apply to a shareholders meeting convened by a party with the power to convene that is not the Board of Directors. The chair shall not adjourn the meeting prior to completion of meeting agenda of the preceding two paragraphs (including motions), except by a resolution of the shareholders meeting. After the meeting is adjourned, the shareholders shall not elect another chair to continue the meeting at the original or another venue.
When a shareholder attending the meeting wishes to speak, he or she shall first fill out a speech note, specifying therein the major points of his or her speech, account number (or number appeared on attendance pass) and account name. The chair shall determine the sequence of shareholders’ speeches. If a shareholder submits a speech note but does not deliver a speech, no speech shall be deemed to have been made by such shareholder. If the contents of speech are inconsistent with the content of the speech note, the content of speech shall prevail. When an attending shareholder makes a speech, other shareholders may not speak or interrupt unless they obtain the consent of the chair, otherwise the chair shall stop any violation.
Each shareholder shall speak no more than twice, for 5 minutes each, on the same agenda unless otherwise agreed by the chair. If a shareholder violates the above provisions or his or her speech exceeds the scope of the motion, the chair may prevent him/her from doing so.
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When appointing a juristic person to attend an annual shareholders meeting, such juristic person may only designate one person as the representative. When a corporate shareholder has appointed two or more representatives to attend the shareholders meeting, only one representative may speak for one agenda.
After an attending shareholder has spoken, the chair may respond in person or direct relevant personnel to respond.
When the chair decides that a proposal has been discussed sufficiently to put it for a vote, the chair may announce the discussion closed and call a vote.
Vote monitoring and counting personnel for the voting on a proposal shall be appointed by the chair, provided that all monitoring personnel shall be shareholders of the Company.

Vote counting for proposals or elections at a shareholders' meeting shall be conducted in public at the place of the meeting. Immediately after vote counting has been completed, the results of the voting, including the tallies of the numbers of votes, shall be announced and be kept for record.

The chair may put the meeting in recess at appropriate times.
When the Company holds a shareholders meeting, it may allow the shareholders to exercise voting rights by correspondence or electronic means. The way to exercise voting rights by correspondence or electronic means is shown on the notice of the shareholders meeting. The shareholders exercising voting rights by correspondence or electronic means are deemed present in person, but it does not apply to the motions and revision of original proposal in the shareholders meeting. The Company shall not propose the motions and revision of original proposal.

The shareholders exercising voting rights by correspondence or electronic means shall deliver their intention to the Company 2 days prior to the date of a shareholders meeting. The first receipt of intention shall prevail if there are two or more intentions from the same shareholder delivered to the Company, except for an explicit statement to revoke the previous intention.

For the shareholders who wish to attend the shareholders meeting in person after exercising voting rights by correspondence or electronic means, they shall rescind their previous intention in the same manner previously used in exercising voting rights two days prior to the date of the shareholders meeting; otherwise, the exercising voting rights by correspondence or electronic means shall prevail. If a shareholder appoints a proxy to attend a shareholders meeting by exercising voting rights via correspondence or electronic means, the voting rights by the proxy prevail.

Except otherwise provided in the Company Act and Articles of Incorporation, the resolution of a proposal shall require a majority vote represented by the attending shareholders.

The chair or designated person shall announce the total voting shares of attending shareholders and proceed the voting. The voting results of the shareholders' approval, objection and abstention need to be filed to MOPS on the date of shareholders meeting.

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The chair shall present the amended or alternative proposal together with the original proposal and decide the order in which they will be put to a vote. When there is an amendment or an alternative to a proposal is passed, all other proposals shall be deemed rejected and no further voting is necessary.
The chair may instruct pickets (or security personnel) to help maintain order in the meeting.
The pickets (or security personnel) shall wear armbands with the word “picket” when trying to maintain order.
The Rules for Shareholders’ Meetings and its amendment will take effect after approval by the annual shareholders’ meeting.
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Current Shareholding of Directors

In accordance with Article 26 of Securities and Exchange Act and “Rules and Review Procedures for Director and Supervisor Share Ownership Ratios at Public Companies”, the minimum number of shares held by all directors of the Company shall be 9,514,394 shares.
As of April 28, 2026, the share registration closure date for shareholders meeting, the shareholding of individual director and all directors recorded in the shareholder register is as follows.

Title	Name	Date of Election	Shareholding (shares) on the Date of Election		Shareholding (shares) on April 28
			Number of Shares	Shareholding Ratio	Number of Shares	Shareholding Ratio
Chairman	Wu Ming-Shien	2024.06.27	2,043,592	1.29%	2,259,940	1.43%
Director	Wu Wei-Chung	2024.06.27	3,604,024	2.27%	3,604,024	2.27%
Director	Famingo Pte Ltd. Corporate Representative: Law Wang-Chak Waltery	2024.06.27	28,929,666	18.24%	28,929,666	18.24%
Director	Famingo Pte Ltd. Corporate Representative: Lam Hin-Lap Michael	2024.06.27	28,929,666	18.24%	28,929,666	18.24%
Director	Wu Tan-Chin	2024.06.27	2,048,838	1.29%	2,048,838	1.29%
Director	Wu Yuan-Mei	2024.06.27	1,820,968	1.15%	1,820,968	1.15%
Director	Wu Jen-Horn	2024.06.27	20,782	0.01%	20,782	0.01%
Independent Director	Wong Yao-Lin	2024.06.27	-	-	-	-
Independent Director	Chu Rueen-Fong	2024.06.27	-	-	-	-
Independent Director	Chen Kin-Lung	2024.06.27	-	-	-	-
Number of shares held by all directors and ratio to all shares outstanding (%)			38,467,870	24.25%	38,684,218	24.39%

The Company's shareholding of all directors has reached the standard required by law.

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MEILOON — AGM Information 2026

52111_rns_2026-05-25_f0608378-f0ab-4be9-8191-283f37e293b4.pdf

Meiloon Industrial Co., Ltd.

Handbook

Meiloon Industrial Co., Ltd.

Meiloon Industrial Co., Ltd.

Procedure for the 2026 Annual Meeting of Shareholders

Report No. 5

IV. Recognition Matters

Proposal 1

Proposal 2

V. Extempore Motion

VI. Adjournment

Meiloon Industrial Co., Ltd. 2025 Business Report

4. R&D

Meiloon Industrial Co., Ltd.

Audit Committee Approval Report

I. Recognition of Sales Revenue

1. Description of key audit matters:

2. Our principal audit procedures with respect to the above key audit matters included the following:

II. Valuation of Inventories

1. Description of key audit matters:

Auditor’s Responsibilities for the Audit of the Parent Company Only Financial Statements

Opinion

Basis for Opinion

Key Audit Matters

Other Matters - Reference to Other Auditors' Reports

Other Matters - Individual Financial Reports

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

Auditor's Responsibilities for the Audit of the Consolidated Financial Statements

Meiloon Industrial Co., Ltd.

PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME

Meiloon Industrial Co., Ltd.

PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY

Meiloon Industrial Co., Ltd.

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

Meiloon Industrial Co., Ltd. and its subsidiaries

Meiloon Industrial Co., Ltd. and its subsidiaries

Consolidated Statement of Cash Flows

Section III Shareholders' Meeting

Section IV Directors and Audit Committee

Section V Manager

Section VI Accounting

Section VII Supplementary Provisions

Meiloon Industrial Co., Ltd.

Rules of Procedure for Shareholder Meetings

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MEILOON AGM Information 2026