Richwave Technology Corp. And Subsidiaries

Consolidated Financial Statements for the Three Months Ended March 31, 2026 and 2025 and Independent Auditors’ Review Report

INDEPENDENT AUDITORS’ REVIEW REPORT

The Board of Directors and Shareholders Richwave Technology Corp.

Introduction

We have reviewed the accompanying consolidated balance sheets of Richwave Technology Corp. and its subsidiaries (collectively, the “Group”) as of March 31, 2026 and 2025, and the related consolidated statements of comprehensive income, the consolidated statements of changes in equity and cash flows for the three months then ended, and the related notes to the consolidated financial statements, including a summary of significant accounting policies (collectively referred to as the “consolidated financial statements”). Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, and International Accounting Standard 34 “Interim Financial Reporting” endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China. Our responsibility is to express a conclusion on the consolidated financial statements based on our reviews.

Scope of Review

We conducted our reviews in accordance with the Standards on Review Engagements of the Republic of China 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”. A review of consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our reviews, nothing has come to our attention that caused us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of the Group as of March 31, 2026 and 2025, and of its consolidated financial performance and its consolidated cash flows for the three months ended March 31, 2026 and 2025 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, and International Accounting Standard 34 “Interim Financial Reporting” endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China.

The engagement partners on the reviews resulting in this independent auditors’ review report are Su-Li Fang and Chih-Yuan Wen.

Deloitte & Touche Taipei, Taiwan Republic of China April 30, 2026

Notice to Readers

The accompanying consolidated financial statements are intended only to present the consolidated financial position, financial performance and cash flows in accordance with accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to review such consolidated financial statements are those generally applied in the Republic of China.

For the convenience of readers, the independent auditors’ review report and the accompanying consolidated financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese-language independent auditors’ review report and consolidated financial statements shall prevail.

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In Thousands of New Taiwan Dollars)

	March 31, 2026	March 31, 2026	December 31, 2025	December 31, 2025	March 31, 2025	March 31, 2025
	(Reviewed)		(Audited)		(Reviewed)
ASSETS	Amount	%	Amount	%	Amount	%

CURRENT ASSETS
Cash and cash equivalents (Notes 6 and 28)	$ 919,978	25	$ 704,595	19	$ 692,290	20
Financial assets at fair value through profit or loss - current (Notes 7 and 28)	-	-	-	-	5	-
Financial assets at amortized cost - current (Notes 8 and 28)	290,000	8	555,867	15	279,423	8
Trade receivables, net (Notes 9, 21 and 28)	1,335,975	36	1,289,891	35	1,287,760	37
Other receivables (Notes 9 and 28)	108,729	3	83,155	3	80,156	3
Current tax assets	2,662	-	2,662	-	5,247	-
Inventories (Note 10)	640,541	18	651,557	18	607,258	18
Prepayments (Note 15)	34,341	1	42,711	1	77,269	2
Other current assets (Note 15)	1,464	-	1,449	-	1,633	-

Total current assets	3,333,690	91	3,331,887	91	3,031,041	88

NON-CURRENT ASSETS
Financial assets at amortized cost - non-current (Notes 8, 28 and 30)	9,900	-	9,900	-	9,900	-
Property, plant and equipment (Note 12)	108,277	3	121,794	4	158,476	5
Right-of-use assets (Note 13)	68,185	2	76,084	2	98,791	3
Other intangible assets (Note 14)	35,437	1	34,595	1	40,784	1
Deferred tax assets (Notes 4 and 23)	84,096	3	79,942	2	106,060	3
Prepayments for equipment	6,125	-	5,571	-	4,480	-
Refundable deposits (Note 28)	6,730	-	6,730	-	6,921	-
Net defined benefit assets - non-current (Notes 4 and 19)	7,737	-	7,562	-	5,118	-

Total non-current assets	326,487	9	342,178	9	430,530	12

TOTAL	$ 3,660,177	100	$ 3,674,065	100	$ 3,461,571	100

LIABILITIES AND EQUITY

CURRENT LIABILITIES
Trade payables (Notes 17 and 28)	$ 440,601	12	$ 489,480	13	$ 381,904	11
Accrued profit sharing to employees and bonus to directors (Note 22)	37,307	1	30,928	1	24,015	1
Other payables (Notes 18 and 28)	133,080	4	149,646	4	125,558	4
Current tax liabilities	29,310	1	18,904	-	-	-
Lease liabilities – current (Notes 13 and 28)	29,123	1	30,577	1	31,858	1
Current portion of bonds payable (Notes 16 and 28)	-	-	-	-	21,271	-
Refund liabilities – current (Notes 18 and 21)	117,040	3	106,230	3	140,354	4
Other current liabilities (Notes 18, 21 and 26)	13,668	-	37,379	1	19,599	-

Total current liabilities	800,129	22	863,144	23	744,559	21

NON-CURRENT LIABILITIES
Deferred tax liabilities (Notes 4 and 23)	8,258	-	8,165	-	12,795	1
Lease liabilities - non-current (Notes 13 and 28)	39,380	1	45,929	2	67,446	2
Guarantee deposits (Note 28)	6,469	-	6,355	-	6,714	-

Total non-current liabilities	54,107	1	60,449	2	86,955	3

Total liabilities	854,236	23	923,593	25	831,514	24

EQUITY ATTRIBUTABLE TO SHAREHOLDERS OF THE PARENT (Notes 20 and 25)
Share capital
Ordinary shares	922,099	25	922,099	25	918,971	27
Advance receipts for share capital	-	-	-	-	3,128	-
Total share capital	922,099	25	922,099	25	922,099	27
Capital surplus	900,389	25	900,389	25	898,509	26
Retained earnings
Legal reserve	228,527	6	228,527	6	212,694	6
Special reserve	-	-	-	-	710	-
Unappropriated earnings	750,875	21	697,373	19	592,692	17
Total retained earnings	979,402	27	925,900	25	806,096	23
Other equity	4,051	-	2,084	-	3,353	-

Total equity	2,805,941	77	2,750,472	75	2,630,057	76

TOTAL	$ 3,660,177	100	$ 3,674,065	100	$ 3,461,571	100

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

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

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

For the Three Months	For the Three Months	Ended March 31
2026	% 100 67 33 6 7 18 - 31 2 1 1 3 - 5 7 (1) 6 - - 6	2025
Amount		Amount	%
$ 930,198 618,990 311,208 53,977 65,520 171,808 (33) 291,272 19,936 9,031 11,251 20,673 (109) 40,846 60,782 (7,280) 53,502 1,967 1,967 $ 55,469 $ 0.58 $ 0.58		$ 849,435 575,732 273,703 53,147 63,876 162,737 (307) 279,453 (5,750) 7,620 13,793 17,219 (657) 37,975 32,225 (6,464) 25,761 1,362 1,362 $ 27,123 $ 0.28 $ 0.28	100 68 32 6 8 19 - 33 (1) 1 2 2 - 5 4 (1) 3 - - 3

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

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (In Thousands of New Taiwan Dollars, Unless Stated Otherwise) (Reviewed, Not Audited)

BALANCE AT JANUARY 1, 2025 Net profit for the three months ended March 31, 2025 Other comprehensive income for the three months ended March 31, 2025, net of income tax Compensation cost of employee share options Convertible bonds converted to ordinary shares BALANCE AT MARCH 31, 2025 BALANCE AT JANUARY 1, 2026 Net profit for the three months ended March 31, 2026 Other comprehensive income for the three months ended March 31, 2026, net of income tax BALANCE AT MARCH 31, 2026	Share Capital Share (Thousands) Share Capital Advance receipts for share capital 90,682 $ 906,825 $ 12,146 - - - - - - - - - 1,215 12,146 (9,018) 91,897 $ 918,971 $ 3,128 92,210 $ 922,099 $ - - - - - - - 92,210 $ 922,099 $ -	Capital Surplus $ 858,718 - - 526 39,265 $ 898,509 $ 900,389 - - $ 900,389		Retained Earnings Legal Reserve Special Reserve Unappropriated earnings $ 212,694 $ 710 $ 566,931 - - 25,761 - - - - - - - - - $ 212,694 $ 710 $ 592,692 $ 228,527 $ - $ 697,373 - - 53,502 - - - $ 228,527 $ - $ 750,875	Other Equity	Other Equity	Total Total Equity $ 1,991 $2,560,015 - 25,761 1,362 1,362 - 526 - 42,393 $ 3,353 $2,630,057 $ 2,084 $2,750,472 - 53,502 1,967 1,967 $ 4,051 $2,805,941
				Legal Reserve $ 212,694 - - - - $ 212,694 $ 228,527 - - $ 228,527	Unrealized Loss on Financial Assets at Fair Value Through Other Comprehensive Income $ (14) - - - - $ (14) $ (14) - - $ (14)	Exchange Differences on Translation of the Financial Statements of Foreign Operations $ 2,005 - 1,362 - - $ 3,367 $ 2,098 - 1,967 $ 4,065

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

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS (In Thousands of New Taiwan Dollars) (Reviewed, Not Audited)

CASH FLOWS FROM OPERATING ACTIVITIES Profit before income tax for the period Adjustments for: Depreciation expense Amortization expense Expected credit loss reversed on trade receivables Net loss on fair value changes of financial assets and liabilities at fair value through profit or loss Finance costs Interest income Compensation cost of employee share options Write-down of inventories Net loss on foreign currency exchange Changes in operating assets and liabilities Trade receivables Other receivables Inventories Net defined benefit assets Prepayments Other current assets Contract liabilities Trade payables Other payables Accrued profit sharing to employees and bonus to directors Refund liabilities Other current liabilities Cash generated from operations Interest received Interest paid Income tax paid Net cash (used in) generated from operating activities	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 60,782 24,644 7,618 (33 ) - 109 (9,031 ) - 11,044 1,677 (47,838 ) (25,832 ) (28 ) (175 ) 8,370 (15 ) (21,851 ) (49,367 ) (11,088 ) 6,379 10,810 (1,860) (35,685 ) 9,289 (109 ) (935) (27,440)	2025 $ 32,225 28,203 9,737 (307 ) 92 657 (7,620 ) 526 17,603 15,013 (119,649 ) (15,974 ) (32,820 ) (170 ) (96 ) (93 ) (1,155 ) 87,634 (24,635 ) 3,382 29,858 (14,351) 8,060 6,255 (394 ) (617) 13,304

(Continued)

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS (In Thousands of New Taiwan Dollars) (Reviewed, Not Audited)

CASH FLOWS FROM INVESTING ACTIVITIES Purchase of financial assets at amortized cost Proceeds from sale of financial assets at amortized cost Payments for property, plant and equipment Decrease in refundable deposits Payments for intangible assets Net cash generated from (used in) investing activities CASH FLOWS FROM FINANCING ACTIVITIES Repayments of Lease principal Net cash used in financing activities EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
	( (	2026 $ (115,000 ) 372,413 (9,523 ) - (7,630) 240,260 8,211) 8,211) 10,774 215,383 704,595 $ 919,978	2025 $ (263,056 ) - (16,669 ) 185 (14,673) (294,213) (8,132) (8,132) (32,034) (321,075 ) 1,013,365 $ 692,290

(Concluded)

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

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise) (Reviewed, Not Audited)

1. GENERAL INFORMATION

Richwave Technology Corp. (the “Company”) was incorporated in the Republic of China (ROC) in January 2004. The Company is mainly engaged in the design and sale of integrated circuits (ICs) for wireless communication products. The Company’s shares have been listed on the Taiwan Stock Exchange (TWSE) since November 2015.

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

Richwave Technology Corp. and its subsidiaries are collectively referred to as the “Group” hereinafter.

2. APPROVAL OF FINANCIAL STATEMENTS

The consolidated financial statements were approved by the Company’s board of directors on April 30, 2026.

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

a. The IFRS Accounting Standards in issue but not yet endorsed and issued into effect by the FSC

Effective Date New, Amended and Revised Standards and Interpretations Announced by IASB (Note 1) Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets To be determined by IASB between an Investor and its Associate or Joint Venture” IFRS 18 “Presentation and Disclosure in Financial Statements” January 1, 2027 (Note 2) IFRS 19 “Subsidiaries without Public Accountability: Disclosures” January 1, 2027 (including the 2025 amendments to IFRS 19) Amendments to IAS 21 “Translation to a Hyperinflationary January 1, 2027 Presentation Currency”

Note 1: Unless stated otherwise, the above IFRS Accounting Standards are effective for annual reporting periods beginning on or after their respective effective dates.
Note 2: On September 25, 2025, the FSC announced that IFRS 18 will take effect starting from January 1, 2028. Domestic entities could elect to apply IFRS 18 for an earlier period after the endorsement of IFRS 18 by the FSC.
1) Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets between an Investor and its Associate or Joint Venture”

The amendments stipulate that, when the Group sells or contributes assets that constitute a business (as defined in IFRS 3) to an associate or joint venture, the gain or loss resulting from the transaction is recognized in full. Also, when the Group loses control of a subsidiary that contains a business but

retains significant influence or joint control, the gain or loss resulting from the transaction is recognized in full.

Conversely, when the Group sells or contributes assets that do not constitute a business to an associate or joint venture, the gain or loss resulting from the transaction is recognized only to the extent of the Group’s interest as an unrelated investor in the associate or joint venture, i.e., the Group’s share of the gain or loss is eliminated. Also, when the Group loses control of a subsidiary that does not contain a business but retains significant influence or joint control over an associate or a joint venture, the gain or loss resulting from the transaction is recognized only to the extent of the Group’s interest as an unrelated investor in the associate or joint venture, i.e., the Group’s share of the gain or loss is eliminated.

2) IFRS 18 “Presentation and Disclosure in Financial Statements”

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

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

In addition, the following consequential amendments have been made to IAS 7 “Statement of Cash Flows”:

The Group shall use operating profit or loss as the starting point when presenting cash flows from operating activities under the indirect method.
Interest and dividends received by the Group shall be classified as investing activities, while interest and dividends paid shall be classified as financing activities. However, if, after assessment, the Group has a specific main operating activity, it shall determine how to classify dividends received, interest received and interest paid in the statement of cash flows by referring to how it classifies dividend income, interest income and interest expense in the statement of profit or loss. The total of each of these cash flows shall be classified in a single category in the statement of cash flows.

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

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4. SUMMARY OF MATERIAL ACCOUNTING POLICY INFORMATION

a. Statement of compliance

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

b. Basis of preparation

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

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

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

The consolidated financial statements incorporate the financial statements of the Company and the entities controlled by the Company (i.e., its subsidiaries, including structured entities).

When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those of the Group.

All intra-group transactions, balances, income and expenses are eliminated in full upon consolidation. Total comprehensive income of subsidiaries is attributed to the owners of the Company and to the non-controlling interests even if this results in the non-controlling interests having a deficit balance.

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

See Note 11, Table 2 and Table 3 for detailed information on subsidiaries (including percentages of ownership and main businesses).

d. Other material accounting policies

Except for the following, please refer to the consolidated financial statements for the year ended December 31, 2025.

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1) Retirement benefits

Pension cost for an interim period is calculated on a year-to-date basis by using the actuarially determined pension cost rate at the end of the prior financial year, adjusted for significant market fluctuations since that time and for significant plan amendments, settlements, or other significant one-off events

2) Income tax expense

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

5. MATERIAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

For the critical accounting judgments and key sources of estimation, uncertainty and assumption applied in these consolidated financial statements, please refer to the consolidated financial statements for the year ended December 31, 2025.

6. CASH AND CASH EQUIVALENTS

			December 31,	December 31,
	March	31, 2026		2025	March	31, 2025
Cash on hand	$	544	$	616	$	883
Demand deposits		169,578		229,618		169,472
Cash equivalents
Time deposits with original maturities of 3
months or less		749,856		474,361		521,935
	$	919,978	$	704,595	$	692,290

The market rate intervals of cash and time deposits with original maturities of 3 months or less at the end of the reporting period were as follows:

		December 31,
	March 31, 2026	2025	March 31, 2025
Bank balance	0.03%-3.55%	0.03%~3.42%	0.03%-4.00%
Time deposits with original maturities of 3
months or less	1.525%~3.97%	1.505%~4.13%	1.62%~4.55%

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7. FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS

March 31, 2026 Financial assets at FVTPL-current Financial assets held for trading Derivative financial assets (not under hedge accounting) Convertible options (Note 16) $ - FINANCIAL ASSETS AT AMORTIZED COST March 31, 2026 Current Time deposits with original maturities of more than 3 months (a) $ 290,000 Non-current Pledged Certificate of deposit (b) $ 9,900	December 31, 2025 March 31, 2025 $ - $ 5 December 31, 2025 March 31, 2025 $ 555,867 $ 279,423 $ 9,900 $ 9,900

8. FINANCIAL ASSETS AT AMORTIZED COST

a. The range of interest rates for time deposits with original maturities of more than 3 months was approximately 1.60%-1.62%, 1.57%-4.31% and 1.63%-4.58% per annum as of March 31, 2026, December 31, 2025 and March 31, 2025, respectively.
b. The ranges of interest rates for time deposits with original maturities of more than 1 year were approximately 1.65% per annum as of March 31, 2026, December 31, 2025 and March 31, 2025, respectively. Refer to Note 30 for information relating to investments in financial assets at amortized cost pledged as security.

9. ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES

		December 31,
	March 31, 2026	2025	March 31, 2025
Accounts receivable (Note 21)
At amortized cost
Gross carrying amount	$ 1,337,952	$ 1,291,901	$ 1,292,270
Less: Allowance for impairment loss	(1,977)	(2,010)	(4,510)
	$ 1,335,975	$ 1,289,891	$ 1,287,760
			(Continued)

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			December 31,	December 31,
	March	31, 2026		2025	March	31, 2025
Other receivables
Tax refund receivable	$	62,061	$	52,581	$	45,064
Government grant receivable (Note 26)		10,000		-		-
Interest receivable		4,691		4,949		4,230
Others		31,977		25,625		30,862
	$	108,729	$	83,155	$	80,156

(Concluded)

The average credit period on sales of goods was 30 to 90 days. In order to minimize credit risk, the management of the Group has delegated a team responsible for determining credit limits, credit approvals and other monitoring procedures to ensure that follow-up action is taken to recover overdue debts. In addition, the Group reviews the recoverable amount of each individual trade debt at balance sheet dates to ensure that adequate allowance is made for possible irrecoverable amounts. In this regard, the management believes the Group’s credit risk was significantly reduced.

The Group measures the loss allowance for accounts receivable at an amount equal to lifetime ECLs. The expected credit losses on accounts receivable are estimated using a provision matrix prepared by reference to the past default experience of the customer, the customer’s current financial position, economic condition of the industry in which the customer operates and industry outlook. As the Group’s historical credit loss experience does not show significantly different loss patterns for different customer segments, the provision for loss allowance based on past due status is not further distinguished according to the Group’s different customer base.

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

The following table details the loss allowance of accounts receivable based on the Group’s provision matrix.

March 31, 2026

Expected credit loss rate Gross carrying amount Loss allowance (Lifetime ECLs) Amortized cost December 31, 2025 Expected credit loss rate Gross carrying amount Loss allowance (Lifetime ECLs) Amortized cost	Not Past Due 0.01% $ 1,224,597 (84) $ 1,224,513 Not Past Due 0.01% $ 1,197,695 (79) $ 1,197,616	1 to 30 Days Past Due 0.08% $ 76,673 (65) $ 76,608 1 to 30 Days Past Due 0.10% $ 88,778 (85) $ 88,693	31 to 60 Days Past Due 0.09% $ 26,743 (24) $ 26,719 31 to 60 Days Past Due 0.94% $ 582 (5) $ 577	61 to 90 Days Past Due 0.21% $ 8,152 (17) $ 8,135 61 to 90 Days Past Due 2.76% 7 $ 3,059 (85) $ 2,974	91 to 180 Days Past Due - $ - - $ - 91 to 180 Days Past Due .61%~17.09% $ 38 (7) $ 31	Over 180 Days Past Due I - $ - - $ - Over 180 Days Past Due I - $ - - $ -	Individual dentification 100% $ 1,787 (1,787) $ - Individual dentification 100% $ 1,749 (1,749) $ -	Total $ 1,337,952 (1,977) $ 1,335,975 Total $ 1,291,901 (2,010) $ 1,289,891

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March 31, 2025

Expected credit loss rate Gross carrying amount Loss allowance (Lifetime ECLs) Amortized cost	Not Past Due 0.01% $ 1,095,923 (64) $ 1,095,859	1 to 30 Days Past Due 0.27% $ 94,762 (254) $ 94,508	31 to 60 Days Past Due 0.93% $ 55,082 (514) $ 54,568	61 to 90 Days Past Due 2.88% $ 44,094 (1,269) $ 42,825	91 to 180 Days Past Due - $ - - $ -	Over 180 Days Past Due I - $ - - $ -	Individual dentification 100% $ 2,409 (2,409) $ -	Total $ 1,292,270 (4,510)
								$ 1,287,760

The movements of the loss allowance of accounts receivable were as follows:

Balance at January 1 Less: Net remeasurement of loss allowance Balance at March 31		For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 2,010 (33) $ 1,977	2025 $ 4,817 (307) $ 4,510

10. INVENTORIES

			December 31,	December 31,
	March	31, 2026		2025	March	31, 2025
Finished goods	$	184,823	$	194,746	$	152,991
Work in progress		258,011		263,125		266,388
Raw materials		197,707		193,686		187,879
	$	640,541	$	651,557	$	607,258

The nature of the cost of goods sold is as follows:

Cost of inventories sold Inventory write-downs	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 607,946 11,044 $ 618,990	2025 $ 558,129 17,603 $ 575,732

11. SUBSIDIARIES

a. Subsidiaries included in the consolidated financial statements

Investor Investee Nature of Activities Richwave Technology Corp. Yinghon Technology Co. Development, manufacturing and sales of ICs Richwave Technology Corp. AEGIS LINK CORP. Selling and marking	Proportion of Ownership (%) March 31, December 31, March 31, 2026 2025 2025 Remark 100 100 100 2, 3 100 100 100 1, 3

15 -

Remark:

1) In December 2018, the Company established Minerva Technology Co. in Belize with an investment of USD550 thousand. Minerva Technology Co. reinvested in and established AEGIS LINK CORP. in USA with USD500 thousand in January 2019. In May 2023, the Company acquired 100% of the shares of AEGIS LINK CORP. at USD 395 thousand from Minerva Technology Co. For details of the investment refer to Table 2.
2) In May 2021, the Company established Shenzhen Richwave Technology Co. Ltd. in Shen Zhen with an investment of USD 1,000 thousand. Shenzhen Richwave Technology Co. Ltd. was renamed to Yinghon Technology Co. in September 2021. On February 24, 2022, the board of directors approved a capital increase of USD 1,000 thousand to Yinghon Technology Co. Investment Commission, MOEA approved the capital increase on April 14, 2022, and the Company completed the capital increase in June 2022. Information on investments in mainland China please refer to Table 3.
3) Yinghon Technology Co. and AEGIS LINK CORP. are immaterial subsidiaries; their financial statements have been reviewed.

12. PROPERTY, PLANT AND EQUIPMENT

Cost Balance at January 1, 2026 Additions Effects of foreign currency exchange differences Balance at March 31, 2026 Accumulated depreciation Balance at January 1, 2026 Depreciation expense Effects of foreign currency exchange differences Balance at March 31, 2026 Carrying amount at March 31, 2026 Carrying amount at December 31, 2025	Testing Equipment $ 234,685 - - $ 234,685 $ 177,688 6,672 - $ 184,360 $ 50,325 $ 56,997	Computer Equipment $ 52,594 128 91 $ 52,813 $ 33,663 1,889 57 $ 35,609 $ 17,204 $ 18,931	Other Equipment $ 248,162 2,618 423 $ 251,203 $ 202,296 7,979 180 $ 210,455 $ 40,748 $ 45,866	Total $ 535,441 2,746 514 $ 538,701 $ 413,647 16,540 237 $ 430,424 $ 108,277 $ 121,794

(Continued)

16 -

Cost Balance at January 1, 2025 Additions Disposals Transfers from prepayments Effects of foreign currency exchange differences Balance at March 31, 2025 Accumulated depreciation Balance at January 1, 2025 Depreciation expense Disposals Effects of foreign currency exchange differences Balance at March 31, 2025 Carrying amount at March 31, 2025	Testing Equipment $ 226,857 3,025 - 1,400 - $ 231,282 $ 145,730 8,079 - - $ 153,809 $ 77,473	Computer Equipment $ 41,389 158 - - 60 $ 41,607 $ 27,056 1,912 - 26 $ 28,994 $ 12,613	Other Equipment $ 229,740 15,323 (1,421 ) - 241 $ 243,883 $ 166,792 10,038 (1,421 ) 84 $ 175,493 $ 68,390	Total $ 497,986 18,506 (1,421 ) 1,400 301 $ 516,772 $ 339,578 20,029 (1,421 ) 110 $ 358,296 $ 158,476

(Concluded)

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

Testing equipment Computer equipment Other equipment

1-6 years 3-6 years 1-6 years

13. LEASE ARRANGEMENTS

a. Right-of-use assets

December 31, March 31, 2026 2025 March 31, 2025 Carrying amount Buildings $ 68,185 $ 76,084 $ 98,791

17 -

Additions to right-of-use assets Depreciation charge for right-of-use assets Buildings Income from the subleasing of right-of-use assets (presented in other income)		For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ - $ 8,104 $ (250)	2025 $ 1,164 $ 8,174 $ (188)

Except for the aforementioned addition and recognized depreciation, the Group did not have significant sublease or impairment of right-of-use assets during the three months ended March 31, 2026 and 2025.

b. Lease liabilities

			December 31,	December 31,
	March	31, 2026		2025	March	31, 2025
Carrying amount
Current	$	29,123	$	30,577	$	31,858
Non-current	$	39,380	$	45,929	$	67,446

Range of discount rate for lease liabilities was as follows:

		December 31,
	March 31, 2026	2025	March 31, 2025
Buildings	1.50%~3.50%	1.50%~3.50%	1.50%~3.50%

c. Material leasing activities and terms

The Group leases buildings for the use of plants, offices, staff dormitories and parking spaces with lease terms of 1 to 5 years. The Group does not have bargain purchase options to acquire the leasehold buildings at the end of the lease terms. In addition, the Group is prohibited from subleasing or transferring all or any portion of the underlying assets without the lessor’s consent.

d. Other lease information

Expenses relating to short-term leases Total cash outflow for leases	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 1,170 $ (9,490)	2025 $ 1,257 $ (9,644)

The Group’s leases of certain parking spaces, offices and staff dormitories qualify as short-term leases. The Group has elected to apply the recognition exemption and thus, did not recognize right-of-use assets and lease liabilities for these leases.

18 -

14. OTHER INTANGIBLE ASSETS

Cost Balance at January 1, 2026 Additions Effects of foreign currency exchange differences Balance at March 31, 2026 Accumulated amortization Balance at January 1, 2026 Additions Effects of foreign currency exchange differences Balance at March 31, 2026 Carrying amount at March 31, 2026 Carrying amount at December 31, 2025 Cost Balance at January 1, 2025 Additions Effects of foreign currency exchange differences Balance at March 31, 2025 Accumulated amortization Balance at January 1, 2025 Additions Balance at March 31, 2025 Carrying amount at March 31, 2025	Computer Software $ 45,155 8,446 - $ 53,601 $ 12,298 7,516 - $ 19,814 $ 33,787 $ 32,857 $ 55,797 6,461 - $ 62,258 $ 13,408 9,647 $ 23,055 $ 39,203	Specialized Techniques $ 3,500 - - $ 3,500 $ 2,251 88 - $ 2,339 $ 1,161 $ 1,249 $ 3,500 - - $ 3,500 $ 1,900 88 $ 1,988 $ 1,512	Trademarks $ 555 - 16 $ 571 $ 66 14 2 $ 82 $ 489 $ 489 $ 82 - 2 $ 84 $ 13 2 $ 15 $ 69	Total $ 49,210 8,446 16 $ 57,672 $ 14,615 7,618 2 $ 22,235 $ 35,437 $ 34,595 $ 59,379 6,461 2 $ 65,842 $ 15,321 9,737 $ 25,058 $ 40,784

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

Computer software Specialized techniques Trademarks

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15. OTHER ASSETS

			December	December	31,
	March	31, 2026		2025		March	31, 2025
Current
Prepayments
Prepayment for purchases	$	27,036	$	35,482		$	66,473
Prepaid expenses		7,305		7,229			10,796
	$	34,341	$	42,711		$	77,269
Other current assets
Temporary payments	$	1,464	$	1,449		$	1,633
BONDS PAYABLE
			December		31,
	March	31, 2026		2025		March	31, 2025
Unsecured domestic convertible bonds	$	-	$		-	$	21,400
Less: Discount on bonds payable		-			-		(129)
		-			-		21,271
Less: Current portion		-			-		(21,271)
	$	-	$		-	$	-

16. BONDS PAYABLE

At July 29, 2022, the Company issued 3 thousand, 0% NTD-denominated unsecured convertible bonds in Taiwan, with an aggregate principal amount of $300,000 thousand. The issue price was based on 104.98% of the face value.

Each bond entitles the holder to convert it into ordinary shares of the Company at a conversion price of $136.5. Conversion may occur at any time between October 30, 2022 and July 29, 2025.

If the closing price of shares for each of 30 consecutive trading days is at least 130% of the conversion price between the 3 months after the share issuance date and the 40[th] day before the maturity date, the Company may redeem all the outstanding bonds at their principal amount. If the amount outstanding of bonds is less than 10% of the principal amount, the Company may also redeem the outstanding bonds at their principal amount.

Bondholders have the option to notify the Company of their request for bond redemption within 30 days prior to the second anniversary of the issuance date, and the Company should redeem the bonds at face value.

The convertible bonds contain both liability and equity components. The equity component was presented in equity under the heading of capital surplus - options. The effective interest rate of the liability component was 1.81% per annum on initial recognition.

20 -

Proceeds from issuance (less transaction costs of $2,610 thousand)

Redeemable and puttable option component
Equity component (less transaction costs allocated to the equity component of $221
thousand)

Liability component at the date of issue (less transaction costs allocated to the liability
component of $2,389 thousand)
Interest charged at an effective interest rate of 1.81%
Convertible bonds converted into ordinary shares
Redemption of convertible bonds

Liability component at March 31, 2026

$ 312,341
300

(28,500)
284,141
11,661
(274,402)

(21,400)
$ -

As of March 31, 2026, the convertible bonds with a face value of $278,600 thousand were converted into $20,410 thousand of ordinary shares. In addition, due to the exercise of the bond conversion right, the capital surplus - share option decreased by $26,467 thousand, and the discount of bonds payable decreased by $4,198 thousand, and financial assets at fair value through profit or loss - current decreased by $572 thousand, and the net conversion amount exceeded the par value of the ordinary shares was transferred to capital surplus - conversion of bonds amounted to $279,887 thousand. The capital surplus - share option was transferred to capital surplus - expired share option of $2,033 thousand and the remaining par value of $21,400 thousand, was redeemed on July 29, 2025.

17. ACCOUNTS PAYABLE

			December 31,	December 31,
	March	31, 2026		2025	March	31, 2025
Accounts payable
Generated from operating activities	$	440,601	$	489,480	$	381,904

The average credit period was 30 to 60 days. The Group has financial risk management policies in place to ensure that all payables are paid within the pre-agreed credit terms.

18. OTHER LIABILITIES

			December 31,	December 31,
	March	31, 2026		2025	March	31, 2025
Current
Other payables
Payables for salaries and bonuses	$	61,746	$	74,977	$	58,053
Payables for research and design fee		16,953		7,464		12,667
Payables for insurance premium		13,542		12,790		12,346
Payables for annual leave		12,001		11,735		11,507
Payables for software usage fee		9,101		8,285		7,029
Payables for freight cost		3,463		4,154		5,162
Payables for testing fee		782		1,315		871
Payables for purchases of equipment		2		6,456		6,224
Others		15,490		22,470		11,699
	$	133,080	$	149,646	$	125,558

(Continued)

21 -

			December 31,	December 31,
	March	31, 2026		2025	March	31, 2025
Refund liabilities (Note 21)	$	117,040	$	106,230	$	140,354
Other liabilities
Receipts under custody	$	7,903	$	8,763	$	7,199
Contract liabilities (Note 21)		5,765		27,616		900
Deferred revenue (Note 26)		-		1,000		11,500
	$	13,668	$	37,379	$	19,599

(Concluded)

19. RETIREMENT BENEFIT PLANS

a. Defined contribution plan

Apart from Yinghon Technology Co., the Group adopted a pension plan under the Labor Pension Act (LPA), which is a state-managed defined contribution plan. Under the LPA, an entity makes monthly contributions to employees’ individual pension accounts at 6% of monthly salaries and wages.

b. Defined benefit plan

Employee benefit expenses in respect of the Group’s defined benefit retirement plans were ($25) thousand and ($20) thousand for the three months ended March 31, 2026 and 2025, respectively, and were calculated using the actuarially determined pension cost discount rate as of December 31, 2025 and 2024.

20. EQUITY

a. Ordinary shares

			December 31,	December 31,
	March 31, 2026			2025	March 31, 2025
Number of shares authorized (in thousands of
shares)		200,000		200,000		200,000
Shares authorized	$	2,000,000	$	2,000,000	$	2,000,000
Number of shares issued and fully paid (in
thousands of shares)		92,210		92,210		91,897
Shares issued and fully paid	$	922,099	$	922,099	$	918,971
Advance receipts for share capital	$	-	$	-	$	3,128

A holder of ordinary shares issued with par value of $10 is entitled to vote and to receive dividends.

The authorized shares include 10,000 thousand shares reserved for the exercise of employee share options.

The change in the Company’s share capital for the year ended December 31, 2025 was mainly due to the conversion of unsecured domestic convertible bonds into ordinary shares. Bondholders converted the Company's ordinary shares of $15,274 thousand (1,528 thousand shares). On February 27 and April 30, 2025, the Company’s board of directors resolved to set March 5 and May 5, 2025 as the subscription base date, and the Company has completed the alteration registration on March 31 and August 29, 2025,

22 -

respectively.

b. Capital surplus

			December 31,	December 31,
	March	31, 2026		2025	March	31, 2025
Maybe used to offset a deficit, distributed as
cash dividends, or
transferred to share capital (1)
Issuance of ordinary shares	$	497,045	$	497,045	$	497,045
Issuance of ordinary shares (exercised or
expired employee share options)		93,806		93,806		85,484
Conversion of bonds		279,887		279,887		279,887
May not be used for any purpose
Employee share options		29,651		29,651		34,060
Share options		-		-		2,033
	$	900,389	$	900,389	$	898,509

1) Such capital surplus may be used to offset a deficit; in addition, when the Company has no deficit, such capital surplus may be distributed as cash dividends or transferred to share capital (limited to a certain percentage of the Company’s capital surplus and to once a year).
c. Retained earnings and dividends policy

Under the dividends policy as set forth in the Company’s Articles of Incorporation (“Articles”), where the Company made a profit in a fiscal year, the profit shall be first utilized for paying taxes, offsetting losses of previous years, setting aside a legal reserve of 10% of the remaining profit, setting aside or reversing a special reserve in accordance with the laws and regulations, and then any remaining profit together with any undistributed retained earnings shall be used by the Company’s board of directors as the basis for proposing a distribution plan, which should be resolved in the shareholders’ meeting for the distribution of dividends and bonuses to shareholders. Refer to Note 22(g) for the policies on the distribution of compensation of employees and remuneration of directors.

The Company’s Articles also stipulate a balanced and stable dividends policy whereby share and cash dividends are distributed based on the Company’s profitability, financial structure and future development plans. Dividends may be distributed in form of cash or shares taking into consideration future profitability and funding needs, out of which the total cash dividends paid in any given year shall be at least 10% of the total dividends distributed.

Appropriation of earnings to the legal reserve shall be made until the legal reserve equals the Company’s paid-in capital. The legal reserve may be used to offset deficits. If the Company has no deficits and the legal reserve has exceeded 25% of the Company’s paid-in capital, the excess may be transferred to capital or distributed in cash.

23 -

The appropriations of earnings for 2025 has been proposed in the board of directors on March 5, 2026 and the appropriations of earnings for 2024 has been approved in the shareholders’ meetings on May 29, 2025 were as follows:

Legal reserve Reversal of special reserve Cash dividends Cash dividends per share (NT$)	Appropriation of Earnings	Appropriation of Earnings	Appropriation of Earnings
	For the Year Ended December 31
		2025 $ 24,667 $ - $ 147,536 $ 1.6	2024 $ 15,833 $ (710) $ 101,105 $ 1.1

The appropriation of earnings for 2025 will be resolved by the shareholders in their meeting to be held on May 28, 2026.

d. Special reserve

Balance at January 1 and March 31		For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ -	2025 $ 710

e. Other equity items
1) Exchange differences on translation of the financial statements of foreign operations

Balance at January 1 Recognized for the year Exchange differences on translation of the financial statements of foreign operations Balance at March 31 2) Unrealized gain (loss) on financial assets at FVTOCI Balance at January 1 and March 31		For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 2025 $ 2,098 $ 2,005 1,967 1,362 $ 4,065 $ 3,367 For the Three Months Ended March 31
		2026 $ (14)	2025 $ (14)

24 -

21. REVENUE

a. Contract revenue from customers

Revenue from the sale of goods		For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 930,198	2025 $ 849,435

b. Contract information

As wireless communication products are innovative and the prices are highly volatile, the discount is estimated at the most likely amount based on the range of discounts given in the past. The Group estimates the allowances rate based on most likely amount from past experience, and recognizes the refund liabilities accordingly.

c. Contract balances

Accounts receivable (Note 9) Contract liabilities (Note 18) Sale of goods	March 31, 2026 December 31, 2025 $ 1,335,975 $ 1,289,891 $ 5,765 $ 27,616	March 31, 2025 $ 1,287,760 $ 900	January 1, 2025 $ 1,165,240
			$ 2,055

d. Disaggregation of revenue

Type of goods or services WIFI products Wireless audio and video products Others	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 825,407 30,547 74,244 $ 930,198	2025 $ 698,189 77,747 73,499 $ 849,435

22. NET PROFIT

a. Interest income

Bank deposits Deposit interest	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 9,010 21 $ 9,031	2025 $ 7,599 21 $ 7,620

25 -

b. Other income

Government Grant Rental income Others	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 11,000 250 1 $ 11,251	2025 $ 13,558 188 47 $ 13,793

c. Other gains and losses

Net foreign exchange gains Fair value changes of financial assets designated as at FVTPL Others	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 20,675 - (2) $ 20,673	2025 $ 17,317 (92 ) (6) $ 17,219

d. Finance costs

Interest on lease liabilities Interest on convertible bonds Interest on bank loans	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 109 - - $ 109	2025 $ 255 263 139 $ 657

e. Depreciation and amortization

An analysis of depreciation by function Selling and marketing expenses General and administrative expenses Research and development expenses An analysis of amortization by function Selling and marketing expenses General and administrative expenses Research and development expenses	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 2,033 6,215 16,396 $ 24,644 $ 104 614 6,900 $ 7,618	2025 $ 2,737 6,280 19,186 $ 28,203 $ 35 1,376 8,326 $ 9,737

26 -

f. Employee benefits expense

Post-employment benefits (Note 19) Defined contribution plans Defined benefit plans Share-based payments Equity-settled Other employee benefits Total employee benefits expense An analysis of employee benefits expense by function Selling and marketing expenses General and administrative expenses Research and development expenses	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 5,354 (25) 5,329 - 163,402 $ 168,731 $ 33,081 33,902 101,748 $ 168,731	2025 $ 5,097 (20) 5,077 526 148,473 $ 154,076 $ 29,453 31,267 93,356 $ 154,076

g. Compensation of employees and remuneration of directors

According to the Company’s Articles, the Company accrues compensation of employees and remuneration of directors at rates of no less than 8% and no higher than 1.5%, respectively, of net profit before income tax, compensation of employees, and remuneration of directors. In accordance with the amendments to the Securities and Exchange Act in August 2024, the shareholders of the Company resolved the amendments to the Company’s Articles at their 2025 regular meeting. The amendments explicitly stipulate the allocation of no less than 10% of the compensation of employees as compensation distributions for non-executive employees.

The compensation of employees (including non-executive employees) and the remuneration of directors for the three months ended March 31, 2026 and 2025 are as follows:

Accrual rate Compensation of employees Remuneration of directors Amount Compensation of employees Remuneration of directors	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 2025 8% 8% 1.5% 1% For the Three Months Ended March 31
			2026 $ 5,372 $ 1,007	2025 $ 2,848 $ 534

If there is a change in the amounts after the annual consolidated financial statements are authorized for issue, the differences are recorded as a change in the accounting estimate.

27 -

The appropriations of employees’ compensation and remuneration of directors for 2025 and 2024 that were resolved by the board of directors on March 5, 2026 and February 27, 2025, respectively, are as shown below:

Compensation of employees Remuneration of directors	For the Year Ended December 31 2025 Cash Shares $ 26,045 $ - 4,883 -	For the Year Ended December 31
		2024
		Cash Shares $ 17,375 $ - 3,258 -

There is no difference between the actual amounts of compensation of employees and remuneration of directors paid and the amounts recognized in the consolidated financial statements for the years ended December 31, 2025 and 2024.

Information on the compensation of employees and remuneration of directors resolved by the Company’s board of directors in 2026 and 2025 is available at the Market Observation Post System website of the Taiwan Stock Exchange.

h. Gain or loss on foreign currency exchange

Foreign exchange gains Foreign exchange losses Net gain on foreign currency exchange	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 26,256 (5,581) $ 20,675	2025 $ 19,701 (2,384) $ 17,317

23. INCOME TAXES

a. Income tax recognized in profit or loss

Major components of income tax expense are as follows:

Current tax In respect of the current period Deferred tax In respect of the current period Income tax expense recognized in profit or loss	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 11,341 (4,061) $ 7,280	2025 $ - 6,464 $ 6,464

b. Income tax assessments

The Company’s tax returns through 2023 have been assessed by the tax authorities.

28 -

24. EARNINGS PER SHARE

Unit : NT$ Per Share

Basic earnings per share Diluted earnings per share	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 0.58 $ 0.58	2025 $ 0.28 $ 0.28

The earnings and weighted average number of ordinary shares outstanding used in the computation of earnings per share were as follows:

Net Profit

Earnings used in the computation of basic and diluted earnings per share		For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 53,502	2025 $ 25,761

The weighted average number of ordinary shares outstanding (in thousands of shares) was as follows:

Weighted average number of ordinary shares used in the computation of basic earnings per share Effect of potentially dilutive ordinary shares Compensation of employees Weighted average number of ordinary shares used in the computation of diluted earnings per share	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 92,210 212 92,422	2025 91,941 73 92,014

Since the Group may settle compensation of employees in cash or shares, the Group assumes that the entire amount of the compensation will be settled in shares, and the resulting potential shares are included in the weighted average number of shares outstanding used in the computation of diluted earnings per share, as the effect is dilutive. Such dilutive effect of the potential shares is included in the computation of diluted earnings per share until the number of shares to be distributed to employees is resolved in the following year.

Since the exercise price of the options issued by the Company exceeded the average market price of the shares during the three months ended March 31, 2026 and 2025, they are anti-dilutive and excluded from the computation of diluted earnings per share.

If the outstanding convertible bonds issued by the Company are converted to ordinary shares during the three months ended March 31, 2025, they are anti-dilutive and excluded from the computation of diluted earnings per share.

29 -

25. SHARE-BASED PAYMENT ARRANGEMENTS

a. Employee share option plan

The Company issued 300 units of employee share options on November 29, 2021. On the grant date, each option entities the holder with the right to subscribe for one thousand ordinary share of the Company at the exercise price of NT$279 per share. The options are granted to the employees of the Company and its subsidiaries that meet certain criteria. The expected lifetime of the options is 5 years. The options are exercisable by the qualified employees at 50% after the second year from the grant date, and another two tranches of 25% exercisable after third and fourth years from the grant date. The vesting period will end on November 28, 2026.

Information on outstanding employee share options is as follows:

Balance at January 1 and March 31 Options exercisable, end of the period Weighted - average fair value of options granted (NT$)	For the Three Months Ended March 31	For the Three Months Ended March 31
	2026 Number of Options (In Thousands of Units) Weighted- average Exercise Price (NT$) 243 $ 270.8 243 270.8 $ 122.02	2025
		Number of Options (In Thousands of Units) Weighted- average Exercise Price (NT$) 300 $ 272.9 225 272.9 $ 122.02

As of the balance sheet date, information about employee share options outstanding was as follows:

Range of exercise price (NT$) Weighted average remaining contractual life (in years)	For the Three Months Ended March 31
	2026 2025 $ 270.8 $ 272.9 - 1

The options granted by the Company are priced using the Black-Scholes pricing model and the related inputs to the model are as follows:

	November 29, 2021
Grant-date share price	NT$279
Expected volatility	59.55%`、`57.55% and 56.53%
Risk-free interest rate	0.40%`、`0.41% and 0.42%
Expected dividend yield rate	-
Expected life	3.5 years`、`4 years and 4.5 years

Compensation costs recognized was $526 thousand for the three months ended March 31, 2025.

26. GOVERNMENT GRANTS

In October 2024, the Company obtained the subsidy approval for the "Wi-Fi 7 Linear and Nonlinear RF Front-end Module Technology Development Project" of the Ministry of Economic Affairs' Industrial Upgrading Innovation Platform Guidance Program. The project period is from April 2024 to March 2026. The Company received a government grant of $100,000 thousand from the Ministry of Economic Affairs.

30 -

As of March 31, 2026, the Company had received $90,000 thousand. The Company recognized government grants of $11,000 thousand under other income according to the progress of plan execution, and $10,000 thousand was listed as government grant receivable during the three months ended March 31, 2026.

27. CAPITAL MANAGEMENT

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

The capital structure of the Group consists of net debt (borrowings offset by cash and cash equivalents) and equity of the Group (comprising issued capital, reserves, retained earnings and other equity).

The Group is not subject to any externally imposed capital requirements.

The key management personnel of the Group review the capital structure on regular basis. As part of this review, the key management personnel consider the cost of capital and the risks associated with each class of capital. Based on recommendations of the key management personnel, in order to balance the overall capital structure, the Group may adjust the amount of dividends paid to shareholders and the number of new shares issued.

28. FINANCIAL INSTRUMENTS

a. Fair value of financial instruments not measured at fair value

March 31, 2025

Financial liabilities Financial liabilities at amortized cost Convertible bonds	Carrying Amount $ 21,271			Fair Value	Fair Value
			Level 1 $ -	Level 2 $ 21,321	Level 3 $ -	Total $ 21,321

The fair values of the financial assets and financial liabilities included in the Level 2 category above have been determined in accordance with the binary tree pricing model for convertible bonds.

b. Fair value of financial instruments measured at fair value on a recurring basis
1) Fair value hierarchy

March 31, 2025

Financial assets at FVTPL Derivative	Level 1 $ -	Level 2 $ 5	Level 3 $ -	Total $ 5

There were no transfers between Levels 1 and 2 in the three months ended March 31, 2025.

31 -
2) Valuation techniques and inputs applied for Level 2 fair value measurement

Financial Instrument
Derivatives - redeemable and
puttable option of
convertible bonds
Categories of financial instruments
Financial assets
FVTPL
Held for trading
Financial assets at amortized cost (1)
Financial liabilities
Amortized cost (2)

Valuation Technique and Inputs

Binary tree pricing model for convertible bonds.
Track the evolution of key underlying variables of options in
discrete time through a binary tree over multiple time steps
between evaluation date and maturity date. Each node of the
tree represents a possible price at a particular point in time.
March 31, 2026
December 31,
2025
March 31, 2025
$ - $ - $ 5

2,671,312
2,650,138
2,356,450

506,403
558,769
465,887

c. Categories of financial instruments
1) The balances include financial assets at amortized cost, which comprise cash and cash equivalents, accounts receivable, other receivables, financial assets at amortized cost and refundable deposits.
2) The balances include financial liabilities measured at amortized cost, which comprise accounts payable, other payables, bonds payable and guarantee deposits.
d. Financial risk management objectives and policies

The Group’s major financial instruments included accounts receivable, accounts payable and lease liabilities. The Group’s corporate treasury function provides services to the business, coordinates access to domestic and international financial markets, and monitors and manages the financial risks relating to the operations of the Group through internal risk reports which analyze exposures by degree and magnitude of risks. These risks include market risk (including foreign currency risk, interest rate risk and other price risk), credit risk, and liquidity risk.

The Group did not use derivative financial instruments to minimize the effect of these risks, but it uses natural hedging from operations and borrowings denominated in foreign currencies to mitigate the impact of foreign currency risk.

The corporate treasury function reports monthly to the Group’s risk management committee, an independent body that monitors risks and policies implemented to mitigate risk exposures.

1) Market risk

The Group’s activities exposed it primarily to the financial risks of changes in foreign currency risk (see (a) below) and interest rates (see (b) below).

32 -

a) Foreign currency risk

The Group has foreign currency denominated sales and purchases, which expose the Group to foreign currency risk. Approximately 68% of the Group’s sales is denominated in currencies other than the functional currency of the entity in the Group making the sale, whilst almost 78% of costs is denominated in currencies other than the functional currency of the entity in the Group.

The carrying amounts of the Group’s foreign currency denominated monetary assets and monetary liabilities (including those eliminated on consolidation) at the end of the period are set out in Note 32.

Sensitivity analysis

The Group was mainly exposed to the USD.

The following table details the Group’s sensitivity to a 2% increase and decrease in the New Taiwan dollar (i.e., the functional currency) against the relevant foreign currencies. The sensitivity rate used when reporting foreign currency risk internally to key management personnel and representing management’s assessment of the reasonably possible change in foreign exchange rates is 2%. The sensitivity analysis included only outstanding foreign currency denominated monetary items and adjusts their translation at the end of the period for a 2% change in foreign currency rates. A positive (negative) number below indicates an increase in pre-tax profit associated with New Taiwan dollar strengthening (weakening) 2% against the relevant currency.

Profit or (loss)		USD Impact	USD Impact
		For the Three Months Ended March 31
		2026 $ 27,160	2025 $ 26,909

This was mainly attributable to the exposure on outstanding accounts receivable, cash and cash equivalents and accounts payable denominated in USD that were not hedged at the balance sheet dates.

b) Interest rate risk

The Group is exposed to interest rate risk because entities in the Group borrow funds at both fixed and floating interest rates. The risk is managed by the Group by maintaining an appropriate mix of fixed and floating rate borrowings. Hedging activities are evaluated regularly to align with interest rate views and defined risk appetites ensuring the most cost-effective hedging strategies are applied.

The carrying amounts of the Group’s financial assets and financial liabilities with exposure to interest rates at the balance sheet dates were as follows:

		December 31,
	March 31, 2026	2025	March 31, 2025
Fair value interest rate risk
Financial assets	$ 1,049,756	$ 1,040,128	$	811,258
Financial liabilities	68,503	76,506		120,575
Cash flow interest rate risk
Financial assets	169,578	229,618		169,472

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Sensitivity analysis

The sensitivity analysis below was determined based on the Group’s exposure to interest rates for both derivative and non-derivative instruments at the end of the reporting period. For floating rate liabilities, the analysis was prepared assuming the amount of each liability outstanding at the end of the reporting period was outstanding for the whole year. A 0.25 basis point increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates.

If interest rates had been 0.25 basis point higher/lower and all other variables were held constant, the Group’s pre-tax profit for the three months ended March 31, 2026 and 2025 would have both increased/decreased by $106 thousand.

2) Credit risk

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in a financial loss to the Group. At the balance sheet date, the Group’s maximum exposure to credit risk, which would cause a financial loss to the Group due to the failure of the counterparty to discharge its obligation and due to the financial guarantees provided by the Group, could be equal to the carrying amount of the respective recognized financial assets as stated in the balance sheets.

The Group adopted a policy of dealing only with reputable parties and, where necessary, obtains appropriate guarantees to mitigate the risk of financial losses resulting from the default of payment. The Group assesses the creditability of the key customers based on financial information available and mutual transaction records. The Group continuously monitors the credit risk and credit rating of the counterparties, distributes the total transaction amount to customers with sound credit ratings, and controls the credit risk by ensuring that each counterparty’s credit limit is reviewed and approved by the risk management committee.

The Group assesses the financial position of customers with outstanding accounts receivable balances regularly and requests for collateral if necessary.

The Group’s concentration of credit risk is mainly related to the top five largest customers, which represents 86%, 88% and 89% of total accounts receivable as of March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

3) Liquidity risk

The Group manages liquidity risk by monitoring and maintaining a level of cash and cash equivalents deemed adequate to finance the Group’s operations and mitigate the effects of fluctuations in cash flows. In addition, management monitors the utilization of bank borrowings and ensures compliance with loan covenants.

The Group relies on bank borrowings as a significant source of liquidity. Refer to (b) below for the amount of unsecured short-term bank loan facilities of the Group as of March 31, 2026, December 31, 2025 and March 31, 2025:

a) Liquidity and interest risk rate table for non-derivative financial liabilities

The following table details the Group’s remaining contractual maturities for its non-derivative financial liabilities with agreed repayment periods. The table has been drawn up based on the undiscounted cash flows of financial liabilities from the earliest date on which the Group can be required to pay. The table includes both interest and principal cash flows. Specifically, financial

34 -

liabilities with a repayment on demand clause are included in the earliest time band regardless of the probability of the creditors choosing to exercise their rights. The maturity dates for other non-derivative financial liabilities are based on the agreed repayment dates.

March 31, 2026

On Demand or Less than 1 Month Non-derivative financial liabilities Non-interest bearing $ 250,942 Lease liabilities - $ 250,942	1-3 Months $ 229,016 8,382 $ 237,398	3 Months to 1 Year $ 19,976 21,892 $ 41,868	1-5 Years $ 6,469 40,509 $ 46,978

Further information on the maturity analysis	Further information on the maturity analysis	Further information on the maturity analysis	of the above financial liabilities	of the above financial liabilities	of the above financial liabilities	was as	follows:
			Less than
			1 Year			1-5 Years
Lease liabilities			$ 30,274		$	40,509
December 31, 2025
	On Demand or
		Less than		3 Months to
		1 Month	1-3 Months		1 Year		1-5 Years
Non-derivative financial
liabilities
Non-interest bearing	$ 288,082		$ 243,665	$	20,667	$	6,355
Lease liabilities		-	8,284		23,256		47,356
	$ 288,082		$ 251,949	$	43,923	$	53,711
Further information on the maturity analysis			of the above financial liabilities			was as	follows:
			Less than
			1 Year			1-5 Years
Lease liabilities			$ 31,540		$	47,356
March 31, 2025
	On Demand or
		Less than		3 Months to
		1 Month	1-3 Months		1 Year		1-5 Years
Non-derivative financial
liabilities
Non-interest bearing	$ 225,412		$ 191,845	$	42,045	$	6,714
Lease liabilities		-	8,131		24,361		69,709
	$ 225,412		$ 199,976	$	66,406	$	76,423

35 -

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

Lease liabilities	Less than 1 Year $ 32,492	1-5 Years $ 69,709

The amounts included above for variable interest rate instruments for both non-derivative financial assets and liabilities are subject to change if changes in variable interest rates differ from those estimates of interest rates determined at the end of the period.

b) Financing facilities

			December 31,	December 31,
	March 31, 2026			2025	March 31, 2025
Unsecured bank loan facilities
Amount used	$	100,000	$	100,000	$ 100,000
Amount unused		580,000		680,000	560,000
Financial assets	$	680,000	$	780,000	$ 660,000

29. TRANSACTIONS WITH RELATED PARTIES

Balances and transactions between the Company and its subsidiaries, which are related parties of the Company, have been eliminated on consolidation and are not disclosed in this note. Besides information disclosed elsewhere in the other notes, details of transactions between the Group and other related parties are disclosed as follows.

a. Remuneration of key management personnel

Short-term employee benefits Post-employment benefits	For the Three Months Ended March 31	For the Three Months Ended March 31	For the Three Months Ended March 31
		2026 $ 17,165 297 $ 17,462	2025 $ 15,246 297 $ 15,543

The remuneration of directors and key executives was determined by the remuneration committee based on the performance of individuals and market trends.

30. ASSETS PLEDGED AS COLLATERAL OR FOR SECURITY

The following assets were provided as collateral for customs import goods tax and performance guarantee:

March 31, 2026 Pledged deposits (classified as financial assets at amortized cost) $ 9,900	December 31, 2025 March 31, 2025 $ 9,900 $ 9,900

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31. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED COMMITMENTS

In addition to those disclosed in other notes, significant contingencies and unrecognized commitments of the Group at the balance sheet dates were as follows:

a. Significant commitments

Under a sales agreement, the Group shall pay royalties at a certain percentage of net sales of certain products. Royalty expenses amounted to $887 thousand and $1,170 thousand for the three months ended March 31, 2026 and 2025.

32. SIGNIFICANT ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES

The significant financial assets and liabilities of the entities in the Group denominated in foreign currencies aggregated by the foreign currencies other than functional currencies and the related exchange rates between the foreign currencies and the respective functional currencies were as follows:

March 31, 2026

		Foreign		Carrying
	Currency		Exchange Rate	Amount
Financial assets
Monetary items
USD	$	51,966	31.995	$ 1,662,652
Financial liabilities
Monetary items
USD		9,522	31.995	304,656
December 31, 2025
		Foreign		Carrying
	Currency		Exchange Rate	Amount
Financial assets
Monetary items
USD	$	51,232	31.43	$ 1,610,222
Financial liabilities
Monetary items
USD		11,239	31.43	353,242

37 -

March 31, 2025

		Foreign		Carrying
	Currency		Exchange Rate	Amount
Financial assets
Monetary items
USD	$	49,391	33.205	$ 1,640,028
Financial liabilities
Monetary items
USD		8,872	33.205	294,595

The significant unrealized foreign exchange gains (losses) were as follows:

Foreign Currency USD	For the Three Months Ended March 31, 2026 Exchange Rate Net Foreign Exchange Gains 31.631 $ 41,231	For the Three Months Ended March 31,2025
		Exchange Rate Net Foreign Exchange Gains 33.205 $ 64,317

33. SEPARATELY DISCLOSED ITEMS

a. Information about significant transactions:
1) Financing provided to others: None
2) Endorsements/guarantees provided: None
3) Significant marketable securities held (excluding investments in subsidiaries, associates, and joint ventures): None
4) Total purchases from or sales to related parties amounting to at least NT$100 million or 20% of the paid-in capital: None
5) Receivables from related parties amounting to at least NT$100 million or 20% of the paid-in capital: None
6) Intercompany relationships and significant intercompany transactions: Table 1
b. Information on investees: Table 2
c. Information on investments in mainland China
1) Information on any investee company in mainland China, showing the name, principal business activities, paid-in capital, method of investment, inward and outward remittance of funds, ownership percentage, net income of investees, investment income or loss, carrying amount of the investment at the end of the period, repatriations of investment income, and limit on the amount of investment in the mainland China area: Table 3
2) Any of the following significant transactions with investee companies in mainland China, either
38 -

directly or indirectly through a third party, and their prices, payment terms, and unrealized gains or losses: Table 1

a) The amount and percentage of purchases and the balance and percentage of the related payables at the end of the period
b) The amount and percentage of sales and the balance and percentage of the related receivables at the end of the period
c) The amount of property transactions and the amount of the resultant gains or losses
d) The balance of negotiable instrument endorsements or guarantees or pledges of collateral at the end of the period and the purposes
e) The highest balance, the ending balance, the interest rate range, and total current period interest with respect to the financing of funds
f) Other transactions that have a material effect on the profit or loss for the period or on the financial position, such as the rendering or receipt of services

34. SEGMENT INFORMATION

The Group is considered a single operating segment. Information reported to the chief operating decision maker for the purpose of resource allocation and assessment of segment performance focuses on the types of goods or services delivered or provided. The Group is currently engaged in the design and sale of the wireless communication products, and its operating segment’s profit or loss, assets and liabilities were measured on the same basis as the consolidated financial statements, please refer to accompanying consolidated financial statements.

39 -

TABLE 1

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

Intercompany relationships and significant intercompany transactions FOR THE THREE MONTHS ENDED MARCH 31, 2026 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

No. (Note 1)	Investee Company	Counterparty	Relationship (Note 2)		Transaction	Details
				Financial Statement Accounts	Amount	Payment Terms	% of Total Sales or Assets (Note 3)
0	Richwave Technology Corp.	Yinghon Technology Co. AEGIS LINK CORP.	1 1 1 1	Other accounts payable Operating expenses Other accounts payable Operatingexpenses	$ 16,062 23,534 1,798 1,777	Based on regular terms Based on regular terms Based on regular terms Based on regular terms	- 3% - -

Note 1: Companies are numbers as follows:

“0” for the Company.
Subsidiaries are numbered from Arabic”1” onward.

Note 2 ： Related party transactions are divided into three categories as below:

The Company to the subsidiary.
The subsidiary to the Company.
Between subsidiaries.

Note 3 ： The amount was eliminated upon the consolidation.

40 -

TABLE 2

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

INFORMATION ON INVESTEES FOR THE THREE MONTHS ENDED MARCH 31, 2026 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Investor Company	Investee Company	Location	Main Businesses and Products	Original Investment Amount	Original Investment Amount	Balance as of March 31, 2026	Balance as of March 31, 2026	Balance as of March 31, 2026	Net Income of the Investee	Share of Profit	Note
				March 31, 2026	December 31, 2025	Number of Shares	%	Carrying Amount
Richwave Technology Corp.	AEGIS LINK CORP.	USA	Selling and marketing	$ 12,161 (USD 395 thousand)	$ 12,161 (USD 395 thousand)	-	100	$ 4,739	$ 2	$ 2	The Group’s subsidiary (Note)

Note: The amounts were based on the financial statements which were reviewed by independent auditors.

41 -

TABLE 3

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

INFORMATION ON INVESTMENTS IN MAINLAND CHINA FOR THE THREE MONTHS ENDED MARCH 31, 2026 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Investee Company	Main Businesses and Products	Paid-in capital	Paid-in capital	Method of Investment	Accumulated Outward Remittance for Investment from Taiwan as of January 1, 2026	Remittance of Funds	Remittance of Funds	Remittance of Funds	Accumulated Outward Remittance for Investment from Taiwan as of March 31, 2026	Net Income (Loss) of the Investee	% Ownership of Direct or Indirect Investment	Investment Gain (Loss)	Carrying Amount as of March 31, 2026	Accumulated Repatriation of Investment Income as of March 31, 2026	Note
						Outflow		Inflow
Yinghon Technology Co. `（`Note 2`）`	Development, manufacturing and sales of ICs	$ 57,410 ( US$ 2,000 thousand)		Direct Investment	$ 57,410 ( US$ 2,000 thousand)	$	-	$ -	$ 57,410 ( US$ 2,000 thousand)	$ 352	100%	$ 352	$ 65,763	$ -	The Group’s subsidiary (Note 1)

Accumulated Outward Remittance for Investment in Mainland China as of March 31, 2026			Investment Amount Authorized by Investment Commission, MOEA				Upper Limit on the Amount of Investment Stipulated by Investment Commission, MOEA
$ 57,410 `（`US$ 2,000 thousand`）`			$ 57,410 `（`US$ 2,000 thousand`）`				$1,683,565

Note 1: The amounts were based on the financial statements which were reviewed by independent auditors.

Note 2: Shenzhen Richwave Technology Co. Ltd. was renamed to Yinghon Technology Co. in September 2021.

42 -

AI assistant

Richwave — Interim / Quarterly Report 2026

52453_rns_2026-04-30_ad5fc3f9-6033-4179-a5df-b70707c6af42.pdf

Richwave Technology Corp. And Subsidiaries

INDEPENDENT AUDITORS’ REVIEW REPORT

Introduction

Scope of Review

Conclusion

Notice to Readers

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In Thousands of New Taiwan Dollars)

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

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

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS (In Thousands of New Taiwan Dollars) (Reviewed, Not Audited)

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS (In Thousands of New Taiwan Dollars) (Reviewed, Not Audited)

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

1. GENERAL INFORMATION

2. APPROVAL OF FINANCIAL STATEMENTS

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

4. SUMMARY OF MATERIAL ACCOUNTING POLICY INFORMATION

1) Retirement benefits

2) Income tax expense

5. MATERIAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

6. CASH AND CASH EQUIVALENTS

7. FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS

8. FINANCIAL ASSETS AT AMORTIZED COST

9. ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES

March 31, 2026

March 31, 2025

10. INVENTORIES

11. SUBSIDIARIES

12. PROPERTY, PLANT AND EQUIPMENT

13. LEASE ARRANGEMENTS

b. Lease liabilities

c. Material leasing activities and terms

d. Other lease information

14. OTHER INTANGIBLE ASSETS

15. OTHER ASSETS

16. BONDS PAYABLE

17. ACCOUNTS PAYABLE

18. OTHER LIABILITIES

19. RETIREMENT BENEFIT PLANS

20. EQUITY

b. Capital surplus

21. REVENUE

b. Contract information

22. NET PROFIT

b. Other income

c. Other gains and losses

e. Depreciation and amortization

f. Employee benefits expense

g. Compensation of employees and remuneration of directors

23. INCOME TAXES

24. EARNINGS PER SHARE

Net Profit

25. SHARE-BASED PAYMENT ARRANGEMENTS

26. GOVERNMENT GRANTS

27. CAPITAL MANAGEMENT

28. FINANCIAL INSTRUMENTS

a) Foreign currency risk

Sensitivity analysis

b) Interest rate risk

Sensitivity analysis

2) Credit risk

3) Liquidity risk

29. TRANSACTIONS WITH RELATED PARTIES

30. ASSETS PLEDGED AS COLLATERAL OR FOR SECURITY

31. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED COMMITMENTS

32. SIGNIFICANT ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES

March 31, 2026

March 31, 2025

33. SEPARATELY DISCLOSED ITEMS

34. SEGMENT INFORMATION

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

Intercompany relationships and significant intercompany transactions FOR THE THREE MONTHS ENDED MARCH 31, 2026 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

RICHWAVE TECHNOLOGY CORP. AND SUBSIDIARIES

Richwave Interim / Quarterly Report 2026