SUN MAX - Interim / Quarterly Report 2025

Stock No.: 6591

SUN MAX TECH LIMITED And subsidiaries

Consolidated financial statements and Auditor’s Report Third Quarter, 2025 and 2024

Address: The Grand Pavilion Commercial Centre Oleander Way,802 West Bay Road P.O. Box32052, Grand Cayman KY1-1208 Cayman Islands Tel: (02)82263300

For the convenience of readers and for information purpose only, the auditors’ report and the accompanying financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. In the event of any discrepancy between the English version and the original Chinese version or any differences in the interpretation of the two versions, the Chinese-language auditors’ report and financial statements shall prevai

§Table of Contents§

Item 1. Cover page 2. Table of Contents 3. Independent Auditors’ Report 4. Consolidated Balance Sheets 5. Consolidated Statement of Comprehensive Income 6. Consolidated Statements of Changes in Equity 7. Consolidated Statements of Cash Flows 8. Notes to Consolidated Financial Statements (1) Organization and operations (2) Financial reporting date and procedures (3) Application of new and revised standards and interpretation (4) Summary of significant accounting policies (5) Main source of significant accounting judgment, estimates and assumptions uncertainty (6) Summary of significant accounting titles (7) Related party transactions (8) Pledged assets (9) Significant contingent liabilities and unrecognized contractual commitments (10) Other matters (11) Significant subsequent events (12) Information on foreign currency assets and liabilities with significant influence (13) Notes of disclosure 1. Information about important transactions 2. Transfer investment information 3. Information regarding investment in the territory of mainland China (14) Capital risk management (15) Segment information	Page 1 2 3 4 5 6 7~8 9 9 9~11 11~12 12 13~37 37 37 37 - - 38~39 39 39 39~40 40 40~41	Notes to financial statements No.
		- - - - - - - 1 2 3 4 5 6~24 25 26 27 - - 28 29 29 29 30 31

Independent Auditors’ Report

To: SUN MAX TECH LIMITED:

Preface

We have audited the accompanying consolidated financial statements of SUN MAX TECH LIMITED and its subsidiaries (hereinafter, “SUN MAX Group”) which comprise the balance sheets as of September 30, 2025 and 2024 and July 1 to September 30, 2025 and 2024 the related consolidated statements comprehensive of income, changes in shareholders’ equity and cash flows for the January 1 to September 30, 2025 and 2024 ended and the notes to consolidated financial statement (including a summary of significant accounting policies). It is the responsibility of the management to properly prepare financial statements in accordance with the “Regulations Governing the Preparation of Financial Reports by Securities Issuers” and the International Accounting Standards No. 34 “Interim Financial Reporting” approved and effectively issued by the Financial Supervisory Commission. Our responsibility it to express an opinion on the consolidated financial statements based on our review. Scope

We reviewed the consolidated financial statements in accordance with the Standards on Auditing No. 2410- “The Review of Financial Statements”. The procedures for the review of the consolidated financial statements include enquiries (primarily inquiring the personnel who are responsible for financial and accounting matters), analytical procedures, and other review procedures. The scope of this audit is obviously not as extensive as a general examination in that we cannot identity the materiality which otherwise could be detected from a general examination. Likewise, we are unable to present an opinion in this regard.

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 consolidate financial position of SUN MAX Group as of September 30, 2025 and 2024, its consolidated financial performance for the three months ended September 30, 2025 and 2024, and its consolidated financial performance and its consolidated cash flows for the nine months then ended September 30, 2025 and 2024 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standards 34 “Interim Financial Reporting” endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China.

Deloitte & Touche CPA, Chia-Ming Chang CPA, Tung-Ju Hsieh

Financial Supervisory Commission approval Financial Supervisory Commission approval no. no. Chin-Kuan-Cheng-Shen-Zi No. 1140350638 Chin-Kuan-Cheng-Shen-Zi No. 1090347472

November 10, 2025

SUN MAX TECH LIMITED and its subsidiaries

Consolidated Balance Sheets

September 30, 2025, December 31 and September 30, 2024

Unit: NTD thousand

Code 1100 1110 1170 1200 1220 130X 1479 11XX 1600 1755 1780 1900 15XX 1XXX Code 2100 2120 2170 2200 2230 2280 2320 2399 21XX 2530 2540 2570 2580 2630 2670 25XX 2XXX 3110 3200 3310 3320 3350 3300 3410 3400 31XX 36XX 3XXX	Assets Current assets Cash and cash equivalents (Note 6) Financial assets at fair value through profit and loss current (Note 7) Net notes receivable and accounts receivable (Note 8) Other receivables Current income tax asset Inventories (Note 9) Other current assets (Note 10) Total current assets Non-current assets Property, plant and equipment (Note 12 and 26) Right-of-use assets (Note 13) Intangible asset (Note 14) Other non-current assets (Note 10) Total non-current assets Total assets Liabilities and equity Current liabilities Short-term borrowings (Note 15 and 26) Financial liabilities at fair value through profit and loss current (Note 7) Notes and account payables Other payable (Note 16) Current Tax Liability Leasehold liability- current (Note 13) Long-term debts and bonds payable that are due within one year (Note 15, 17 and 26) Other current liabilities Total current liability Non-current liabilities Corporate bonds payable (Note 17) Long-term borrowings (Note 15 and 26) Deferred tax liabilities Leasehold liability- non-current (Note 13) Deferred income- non-current (Note 23) Other non-current liabilities Total non-current liability Total liabilities Equity Attributable to Owners of the company (Note 19) Common stock capital Capital surplus Retained earnings Legal reserve Special reserve Unappropriated earnings Total retained earnings Other equity Exchange differences on Translating the financial statements of foreign operations Total other equity Total equity of the company Non-controlling interest Total equity Total liabilities and equity		September 30, 2025 Amount % $ 968,881 28 - - 724,603 21 3,045 - 2,748 - 196,207 6 20,144 1 1,915,628 56 1,312,065 38 41,518 1 6,268 - 158,657 5 1,518,508 44 $ 3,434,136 100 $ 51,424 2 650 - 195,566 6 211,776 6 14,907 - 17,972 1 29,280 1 9,451 - 531,026 16 232,042 7 350,940 10 139,859 4 7,206 - 31,164 1 - - 761,211 22 1,292,237 38 411,225 12 1,067,515 31 122,946 3 - - 604,380 18 727,326 21 70,655) ( 2) 70,655) ( 2) 2,135,411 62 6,488 - 2,141,899 62 $ 3,434,136 100		December 31, 2024 Amount % $ 748,046 25 19 - 481,480 16 4,135 - 18,390 1 183,652 6 9,530 - 1,445,252 48 1,428,370 48 52,904 2 9,015 - 60,588 2 1,550,877 52 $ 2,996,129 100 $ 70,000 2 - - 159,457 5 188,549 6 1,277 - 18,083 1 75,668 3 6,788 - 519,822 17 - - 372,900 12 115,299 4 17,008 1 34,412 1 1,579 - 541,198 18 1,061,020 35 377,223 13 895,605 30 110,992 3 56,738 2 472,216 16 639,946 21 14,519 1 14,519 1 1,927,293 65 7,816 - 1,935,109 65 $ 2,996,129 100		September 30, 2024	September 30, 2024
			Amount $ 968,881 - 724,603 3,045 2,748 196,207 20,144 1,915,628 1,312,065 41,518 6,268 158,657 1,518,508 $ 3,434,136 $ 51,424 650 195,566 211,776 14,907 17,972 29,280 9,451 531,026 232,042 350,940 139,859 7,206 31,164 - 761,211 1,292,237 411,225 1,067,515 122,946 - 604,380 727,326 70,655) 70,655) 2,135,411 6,488 2,141,899 $ 3,434,136		Amount $ 748,046 19 481,480 4,135 18,390 183,652 9,530 1,445,252 1,428,370 52,904 9,015 60,588 1,550,877 $ 2,996,129 $ 70,000 - 159,457 188,549 1,277 18,083 75,668 6,788 519,822 - 372,900 115,299 17,008 34,412 1,579 541,198 1,061,020 377,223 895,605 110,992 56,738 472,216 639,946 14,519 14,519 1,927,293 7,816 1,935,109 $ 2,996,129		Amount $ 688,139 15 503,564 3,740 7,021 163,581 14,730 1,380,790 1,109,266 57,041 5,969 122,790 1,295,066 $ 2,675,856 $ 20,000 - 142,153 173,483 6,764 17,791 63,133 7,083 430,407 - 172,420 122,098 21,411 34,488 319 350,736 781,143 376,657 893,806 110,992 56,738 446,579 614,309 1,891 1,891 1,886,663 8,050 1,894,713 $ 2,675,856	%
		( (						26 - 19 - - 6 1 52 41 2 - 5 48 100 1 - 5 7 - 1 2 - 16 - 6 5 1 1 - 13 29 14 34 4 2 17 23 - - 71 - 71 100

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

Chairman: HSU Wen-Faung

Manager: HSU Wen-Faung

Head of Accounting: YAO, Cheng-Min

SUN MAX TECH LIMITED and its subsidiaries

Consolidated Statement of Comprehensive Income

July 1 to September 30, 2025 and 2024, January 1 to September 30, 2025 and 2024

Unit: NTD thousands, except Earnings Per Share (NTD)

Code 4000 Operating revenue 5000 Operating cost (Note 9 and 20) 5900 Gross profit Operating expenses (Note 20 and 25) 6100 Selling and Marketing expense 6200 General and administrative expenses 6300 Research and development expenses 6000 Total operating expenses 6900 Profit from operations Non-operating revenues and expenses 7100 Interest revenue (Note 20) 7010 Other income (Note 20 and 23) 7020 Other gains and losses (Note 12 and 20) 7050 Financial cost (Note 20) 7000 Total non-operating income and expenses 7900 Profit before income tax 7950 Income tax expense (Note 4 and 21) 8200 Net profit of current period Other comprehensive income (Note 19) 8360 Accounts to be reclassified to profit or loss subsequently: 8361 Exchange differences on Translating the financial statements of foreign operations 8300 Total other comprehensive income or loss 8500 Current period other comprehensive income (Gross) Net profit attributable to: 8610 Owners of parent 8620 Non-controlling interest 8600 Comprehensive income attributable to: 8710 Owners of parent 8720 Non-controlling interest 8700 Earnings per share (Note 22) 9710 Basic 9810 Diluted	July1 to September30,2025 Amount % $ 445,556 100 ( 291,851) (65) 153,705 35 ( 12,701 ) ( 3 ) ( 48,537 ) ( 11 ) ( 26,632) ( 6) ( 87,870) (20) 65,835 15 4,358 1 22,552 5 13,580 3 ( 3,479) ( 1) 37,011 8 102,846 23 ( 33,175) ( 7) 69,671 16 66,455 15 66,455 15 $ 136,126 31 $ 70,180 16 ( 509) - $ 69,671 16 $ 136,635 31 ( 509) - $ 136,126 31 $ 1.80 $ 1.79	July1 to September30,2024 Amount % $ 354,668 100 ( 254,311) (72) 100,357 28 ( 9,383 ) ( 3 ) ( 37,647 ) ( 10 ) ( 26,000) ( 7) ( 73,030) (20) 27,327 8 5,474 2 46,759 13 ( 14,980 ) ( 4 ) ( 1,859) ( 1) 35,394 10 62,721 18 ( 14,125) ( 4) 48,596 14 ( 9,041) ( 3) ( 9,041) ( 3) $ 39,555 11 $ 48,991 14 ( 395) - $ 48,596 14 $ 39,950 11 ( 395) - $ 39,555 11 $ 1.30 $ 1.27	January 1 to September 30, 2025 Amount % $ 1,370,569 100 ( 883,360) (65) 487,209 35 ( 36,108 ) ( 2 ) ( 135,546 ) ( 10 ) ( 80,620) ( 6) ( 252,274) (18) 234,935 17 14,125 1 30,402 2 ( 15,609 ) ( 1 ) ( 10,055) - 18,863 2 253,798 19 ( 76,789) ( 6) 177,009 13 ( 85,174) ( 6) ( 85,174) ( 6) $ 91,835 7 $ 178,337 13 ( 1,328) - $ 177,009 13 $ 93,163 7 ( 1,328) - $ 91,835 7 $ 4.65 $ 4.57	January 1 to September 30, 2024	January 1 to September 30, 2024
					%
					100 (74) 26 ( 3 ) ( 11 ) ( 6) (20) 6 1 6 1 ( 1) 7 13 ( 4) 9 6 6 15 9 - 9 15 - 15

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

Chairman: HSU Wen-Faung

Manager: HSU Wen-Faung

Head of Accounting: YAO, Cheng-Min

SUN MAX TECH LIMITED and its subsidiaries

Consolidated Statements of Changes in Equity January 1 to September 30, 2025 and 2024

Unit: NTD thousand

		Equity of the company	Equity of the company					Non-controlling interest $ 9,071 - - - - ( 1,021 ) - ( 1,021) $ 8,050 $ 7,816 - - - - - - - ( 1,328 ) - ( 1,328) $ 6,488		Total equity
Common stock capital $ 356,403 - - - 20,254 - - - $ 376,657 $ 377,223 - - - 23,000 - - 11,002 - - - $ 411,225	Capital surplus $ 826,927 - - - 66,879 - - - $ 893,806 $ 895,605 - - - 116,850 4,646 15,128 35,286 - - - $ 1,067,515		Retained earnings	Unappropriated earnings $ 490,212 ( 11,852 ) ( 23,220 ) ( 102,463 ) - 93,902 - 93,902 $ 446,579 $ 472,216 ( 11,954 ) 56,738 ( 90,957 ) - - - - 178,337 - 178,337 $ 604,380	Other equity
					Exchange differences on Translating the financial statements of foreign operations
		Legal reserve $ 99,140 11,852 - - - - - - $ 110,992 $ 110,992 11,954 - - - - - - - - - $ 122,946	Special reserve $ 33,518 - 23,220 - - - - - $ 56,738 $ 56,738 - ( 56,738 ) - - - - - - - - $ -
			(	( ( ( ( (	( ( ( (	$ 56,738 ) - - - - - 58,629 58,629 $ 1,891 $ 14,519 - - - - - - - - 85,174) 85,174) $ 70,655)	( ( (	( ( ( (	( ( (	$ 1,758,533 - - 102,463 ) 87,133 92,881 58,629 151,510 $ 1,894,713 $ 1,935,109 - - 90,957 ) 139,850 4,646 15,128 46,288 177,009 85,174) 91,835 $ 2,141,899

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

Chairman: HSU Wen-Faung

Manager: HSU Wen-Faung

Head of Accounting: YAO, Cheng-Min

SUN MAX TECH LIMITED and its subsidiaries

Consolidated Statements of Cash Flows

January 1 to September 30, 2025 and 2024

Unit: NTD thousand

Code Cash flow from operating activities A10000 Current period net income before tax A20010 Profits and loss A20100 Depreciation expenses A20200 Amortization expenses A20300 Gain on reversal of expected credit A20400 Net loss (gain) on financial assets and liabilities at fair value through profit and loss A20900 Financial cost A21200 Interest revenue A21900 Compensation cost of employee share option A22500 Loss (gain) on disposal of property, plant, and equipment A23700 Write-downs of inventories and loss of idle inventory (recovery gain) A29900 Reversal of provision A29900 Government grant A30000 Net change in operating assets and liabilities A31130 Notes receivable A31150 Accounts receivable A31180 Other receivables A31200 Inventories A31240 Other current assets A32150 Notes and account payables A32180 Other payables A32230 Other current liabilities A32990 Other non-current liabilities A33000 Cash generated for operations A33100 Interest received A33300 Interest paid A33500 Income tax refund A33500 Income tax paid AAAA Net cash inflow generated from operating activities	January 1 to September 30, 2025 $ 253,798 71,052 4,110 ( 33 ) 73 10,055 ( 14,125 ) 4,646 ( 15,003 ) ( 2,249 ) ( 4 ) ( 9,566 ) 945 ( 243,968 ) ( 285 ) ( 10,306 ) ( 10,614 ) 36,109 19,547 2,650 ( 1,562) 95,270 15,500 ( 9,192 ) 11,245 ( 34,400) 78,423	January 1 to September 30, 2024
		$ 133,361 67,676 2,778 ( 2,498 ) ( 118 ) 6,435 ( 14,146 ) - 4 47,891 ( 31 ) ( 48,245 ) 676 59,164 2,878 8,802 ( 1,226 ) ( 8,988 ) ( 852 ) 140 ( 3) 253,698 13,844 ( 5,380 ) 8,969 ( 64,774) 206,357

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Code Cash payments for investing activities B00050 Disposal of financial assets based on cost after amortization B02700 Purchase of property, plant, and equipment B02800 Disposal of property, plant, and equipment B03700 Increase in refundable deposits B03800 Decrease in Refundable deposits B04500 Purchase of intangible assets B07100 Increase in installment on equipment B09900 Receipt of government grants BBBB Net cash used in from investing activities Cash flow from financing activities C00200 Repayments of short-term borrowings C01200 Issuance of convertible corporate bonds C01300 Convertible bonds buyback C01700 Repayments of proceeds from long-term loans C04020 Payment of principal element of lease liabilities C04500 Cash dividend paid C04600 Proceeds from issuance of ordinary shares CCCC Net cash inflow (outflow) from financing activities DDDD Effects of exchange rate changes on the balance of Cash held in foreign currencies EEEE Net increase in cash and cash equivalents E00100 Balance of cash and cash equivalents at the beginning of period E00200 Balance of cash and cash equivalents at the ending of period	January 1 to September 30, 2025 $ - ( 24,778 ) 69,101 - 255 ( 1,747 ) ( 103,970 ) 8,223 ( 52,916) ( 18,576 ) 247,194 ( 500 ) ( 21,960 ) ( 14,186 ) ( 90,957 ) 139,850 240,865 ( 45,537) 220,835 748,046 $ 968,881	January 1 to September 30, 2024
		$ 921 ( 42,091 ) - ( 1,539 ) - ( 112 ) ( 50,910 ) 47,325 ( 46,406) ( 6,011 ) - - ( 10,980 ) ( 13,040 ) ( 102,463 ) - ( 132,494) 33,185 60,642 627,497 $ 688,139

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

Chairman: HSU Wen-Faung Manager: HSU Wen-Faung Head of Accounting: YAO, Cheng-Min

SUN MAX TECH LIMITED and subsidiaries

Notes to Consolidated Financial Statements

January 1 to September 30, 2025 and 2024

(Unless otherwise provided, Unit: NTD Thousand)

1. Organization and operations

Sun Max Tech Limited (hereinafter referred to as “the Company”) was incorporated in the British Cayman Islands in November 2013 due to the organizational restructure initiated mainly for Taiwan Stock Exchange listing and trading. The Company become the holding company of Group. The cooling fan manufacturing, wholesale, retail, and international trade are the main business operations of the Company and the subsidiaries that are included in the consolidated financial statements (hereinafter referred to as “SUN MAX Group” or the “Consolidated Company”). The Company was approved by Taipei Exchange on November 30, 2016 to trade at Taiwan Stock Exchange Corporation in October 2017 and go public on December 28, 2017.

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

2. Financial reporting date and procedures

The consolidated financial statements were approved by the Board of Directors on November 10, 2025.

3. Application of new and revised standards and interpretation

(1) The first-time adoption and IFRS, IAS, IFRIC and SIC (hereinafter collectively known as “IFRSs”) that have been recognized and approved by the Financial Supervisory Commission (FSC)

The adoption of the IFRSs amended in 2025 that were recognized and issued by the Financial Supervisory Commission did not have a significant impact on the accounting policies of the consolidated company.

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(2) The adoption of IFRSs in 2026 that were recognized by the Financial Supervisory Commission

Commission
The new / amended / revised standards or interpretation Amendments to IFRS 9 and IFRS 7 - “Amendments to the Classification and Measurement of Financial Instruments” Amendments to IFRS 9 and IFRS 7 “Contracts Referencing Nature-dependent Electricity” “Annual Improvements to IFRS Accounting Standards—Volume 11” IFRS 17 “Insurance Contracts” (including amendments in 2020 and 2021)	IASB publication effective date
	January 1, 2026 January 1, 2026 January 1, 2026 January 1, 2023

The consolidated company assessed the adoption of the IFRSs that were recognized by the Financial Supervisory Commission in 2026 and concluded that it did not have a significant impact on the consolidated company. However, the consolidated company has been continuously evaluating the impact of the aforementioned amendments to regulations and interpretations on the financial status and financial performance as of the date the consolidated financial statements were passed and announced; also, the said impact will be disclosed upon the completion of the evaluation.

(3) The IFRSs released by the IASB but not yet approved and announcement effective by the Financial Supervisory Commission

the evaluation. The IFRSs released by the IASB but not yet approved by the Financial Supervisory Commission	and announcement effective
The new / amended / revised standards or interpretation Amendment to IFRS 10 and IAS 28, “Sale or Contribution of Assets between an Investor and its Associate or Joint Venture and Investment in Associates”. IFRS 18 “Presentation and Disclosure in Financial Statements” IFRS 19 “Subsidiaries without Public Accountability: Disclosures” (including amendments in 2025)	IASB publication effective date (Note 1)
	Undefined January 1, 2027 (Note 2) January 1, 2027

Note 1: Unless otherwise stated, the aforementioned new / amended / revised standards or interpretation are effective in the years after the respective date.
Note 2: On September 25, 2025, the FSC announced that Taiwanese companies should apply IFRS 18 from January 1, 2028, or may choose to apply it earlier after FSC approval.

IFRS 18 “Presentation and Disclosure in Financial Statements”

IFRS 18 will replace IAS 1 “Presentation of Financial Statements”, and major changes of the Standard include:

All items of income and expense in the statement of profit or loss shall be classified in one of five categories, the operating category, the investing category, the financing category, the income taxes category, and the discontinued operations category.
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The income statement shall present operating profit or loss, profit or loss before financing and income tax, as well as subtotal and total profit and loss.
The Standard enhances guidance on the principles of aggregation and disaggregation: The consolidated company shall identify assets, liabilities, equity, income, expenses and cash flows arising from individual transactions or events and aggregate them into items based on similar characteristics so that items aggregated and presented as line items in the primary financial statements have at least one similar characteristic. Items with non-similarity characteristics in the main financial statements and notes should be divided. The consolidated company only marks “other” in the absence of more information.
Inclusion of specific requirements for the disclosure of management-defined performance measures: The consolidated company shall disclose all information about management-defined performance measures in a single note to the financial statements, including a description of the measure, how the measure is calculated, a reconciliation between the measure and the total/subtotal required to be presented or disclosed by IFRS Accounting Standards, and tax and non-controlling interest effects for each reconciling item, when they are used in public communications outside the financial statements to communicate to users of financial statements management’s view of an aspect of the financial performance of the consolidated company as a whole.

Except the effects described above, the consolidated company has been continuously evaluating other effects of various amendments to regulations and interpretations on the financial status and financial performance as of the date the consolidated financial statements were passed and announced, and will make appropriate disclosure after the evaluation.

4. Summary of significant accounting policies

(1) Compliance Statement

The consolidated financial statements are prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and IAS 34 “Interim Financial Reporting” that are authorized by the FSC. This consolidated financial statement does not cover the IFRSs disclosure as required by the whole annual financial reporting.

(2) Basis of preparation

Further to financial instruments measured at fair value, the content contained in this consolidated financial statement is compiled based on historical data.

The evaluation of fair value could be classified into Level 1 to Level 3 by the observable intensity and importance of related input value:

Level 1 input value: refers to the quotation of the same asset or liability in an active market as of the evaluation (before adjustment).
Level 2 input value: refers to the direct (the price) or indirect (inference of price) observable input value of asset or liability further to the quotation of Level 1.
Level 3 input value: the unobservable input value of asset or liability.
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(3) Basis of consolidation

Principle of consolidated financial statements preparation

This consolidated financial statement contains the information of the financial statements of the Bank and its controlled entities (subsidiaries). The Consolidated Statement of Comprehensive Income already covered the operating profit and/or loss of the subsidiaries, which have been acquired or disposed of the current term, from the date of acquisition until the date of disposal. The subsidiaries’ financial statements have been properly adjusted to make the accounting policies consistent with the accounting policies of the consolidated company. In preparing these consolidated financial statements, the transactions, account balances, incomes and loss and expenses among the individual entities are written off in full amount. The total comprehensive incomes of the subsidiaries were non-controlling interest attributed to the Company’s owners and the non-controlling interest, to become the balance of loss even as the non-controlling interest.

When the changes of interest of the subsidiaries’ ownership by the Consolidated Company do not lead to the loss of control, it is disposed of as interest transactions. The book value of the Consolidated Company and non-controlling interest has been adjusted to reflect the changes of the relative interest of subsidiaries. The differential between the adjustment amount of non-controlling interest and the fair value of consideration received is directly recognized as interest and belongs to the owner of the Company.

For more details, shareholding ratio and operating items of the subsidiaries, please refer to Note 11, Attached table 5 and Attached table 7.

(4) Other major accounting policy

Further to the elaboration specified hereunder, refer to the notes to major accounting policy of the consolidated financial statements for 2024.

Income tax

Income tax expense is the sum of the current income tax and deferred income tax. The income tax in the interim period is estimated based on the whole period and at the tax rate applicable to the total earnings expected in the period for the interim earnings before taxation.

5. Main source of significant accounting judgment, estimates and assumptions uncertainty

Please refer to the 2024 Consolidated Financial Report for the significant accounting judgment, estimation, and the main source of assumption uncertainties.

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6. Cash and cash equivalents

6.	Cash and cash equivalents	Cash and cash equivalents	Cash and cash equivalents
7. 8.	September 30, 2025 December 31, 2024 September 30, 2024 Cash on hand and petty cash $ 1,505 $ 1,283 $ 1,051 Bank checks and demand deposits 182,503 142,301 156,449 Cash equivalents Time deposits with an initial maturity of less than three months 784,873 604,462 530,639 $ 968,881 $ 748,046 $ 688,139 The interest rate range of time deposit as of balance sheet date listed below: September 30, 2025 December 31, 2024 September 30, 2024 Time deposits 0.65%`～`4.2% 0.45%`～`4.8% 1.15%`～`5.22% Financial instruments measured at fair value through profit or loss September 30, 2025 December 31, 2024 September 30, 2024 Held-for-trade financial assets- Current Derivative instrument-buy-/sell-back of convertible bonds $ - $ 19 $ 15 Held-for-trade financial liabilities-Current Derivative instrument-buy-/sell-back of convertible bonds $ 650 $ - $ - Notes and accounts receivable, net September 30, 2025 December 31, 2024 September 30, 2024 Notes receivable $ 523 $ 1,468 $ 933 Receivable accounts- based on cost after amortization 728,459 484,491 506,413 Less: Allowance for losses ( 4,379) ( 4,479) ( 3,782) $ 724,603 $ 481,480 $ 503,564			September 30, 2024
				1.15%`～`5.22% September 30, 2024
	Held-for-trade financial assets- Current Derivative instrument-buy-/sell-back of convertible bonds Held-for-trade financial liabilities-Current Derivative instrument-buy-/sell-back of convertible bonds Notes and accounts receivable, net	September 30, 2025 $ - $ 650 September 30, 2025 $ 523 728,459 ( 4,379) $ 724,603
				$ 15 $ - September 30, 2024
	Notes receivable Receivable accounts- based on cost after amortization Less: Allowance for losses
		(	(	(	$ 933 506,413 3,782) $ 503,564

The consolidated company adopts the simplified method in IFRS 9 to recognize the allowance for loss of the accounts receivable according to the expected credit losses of the given duration. The full-lifetime expected credit losses are calculated using Provision Matrix, which considers the historical default records and current financial status, industry economic conditions, as well as GDP forecast and industry outlook. Due to the historical experience of credit losses of the consolidated companies, there is no significant difference in the loss patterns of different customer groups. Therefore, the provision matrix does not

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further distinguish the customer base, and only sets the expected credit loss rate based on the overdue days of receivables.

The notes receivable of the consolidated company as of September 30, 2025, December 31 and September 30, 2024, were not past due.

The consolidated company’s allowance for loss of receivables is determined according to the preparation matrix as follows:

September 30, 2025

September 30, 2025	5
Not overdue Overdue 1 to 30 days Overdue 31 to 60 days Expected credit loss rate0.09%`～`0.37% 6.01%`～`7.77% 29.76% Total book value $ 715,523 $ 10,325 $ 1,212 Allowance for loss (expected credit loss of the given duration) ( 1,905) ( 714) ( 361) Cost after amortization $ 713,618 $ 9,611 $ 851 December 31, 2024 Not overdue Overdue 1 to 30 days Overdue 31 to 60 days Expected credit loss rate0.10%`～`0.34% 5.26%`～`8.49% 29.95% Total book value $ 472,868 $ 5,961 $ 4,042 Allowance for loss (expected credit loss of the given duration) ( 1,331) ( 317) ( 1,211) Cost after amortization $ 471,537 $ 5,644 $ 2,831 September 30, 2024 Not overdue Overdue 1 to 30 days Overdue 31 to 60 days Expected credit loss rate 0.11%~0.35% 5.22%~8.53% 30.72% Total book value $ 497,287 $ 6,703 $ 756 Allowance for loss (expected credit loss of the given duration) ( 1,503) ( 380) ( 232) Cost after amortization $ 495,784 $ 6,323 $ 524	Not overdue	Overdue 1 to 30 days	Overdue 31 to 60 days			Overdue over 60 days			Total
		6.01%`～`7.77% $ 10,325 ( 714) $ 9,611 Overdue 1 to 30 days	29.76% $ 1,212 ( 361) $ 851 Overdue 31 to 60 days			100% $ 1,399 ( 1,399) $ - Overdue over 60 days		(	$ 728,459 4,379) $ 724,080 Total
				29.95% $ 4,042 1,211) $ 2,831 Overdue 31 to 60 days		(	100% $ 1,620 1,620) $ - Overdue over 60 days	( (	- $ 484,491 4,479) $ 480,012 Total

				(	30.72% $ 756 232) $ 524		100% $ 1,667 ( 1,667) $ -		- $ 506,413 3,782) $ 502,631

December 31, 2024

September 30, 2024

Changes in the allowance loss of the accounts receivable are as follows:

Balance, beginning Current period reversal of impairment loss Write-offs in current period Foreign currency translation differences Balance, ending	January 1 to September 30, 2025 $ 4,479 ( 33 ) - ( 67) $ 4,379	January 1 to September 30, 2024
		$ 6,939 ( 2,498 ) ( 711 ) 52 $ 3,782

9. Inventories

Inventories
Finished goods Work-in-process goods Raw materials	September 30, 2025 $ 81,612 52,576 62,019 $ 196,207	December 31, 2024 $ 69,758 57,252 56,642 $ 183,652	September 30, 2024
				$ 63,978 42,466 57,137 $ 163,581

14 -

The loss allowance on inventory valuation is NTD 98,197 thousand, NTD 100,446 thousand and NTD 141,882 thousand on September 30, 2025, December 31 and September 30, 2024 respectively.

The cost of goods sold on July 1 to September 30, 2025 and 2024, and on January 1 to September 30, 2025 and 2024 included loss of inventory in valuation (reversal gain) for an amount of NTD 7,000 thousand, NTD 3,803 thousand, NTD (2,249) thousand, and NTD 47,891 thousand, respectively.

10. Other assets

47,891 thousand, respectively. Other assets
Current Prepaid expenses Prepayment for Purchases Excess business tax paid Others Non-current Prepayments for equipment Additional (Note 27) Deferred income tax assets Refundable deposits	September 30, 2025 $ 13,365 2,935 3,844 - 20,144 105,603 43,217 9,837 158,657 $ 178,801	December 31, 2024 $ 6,652 1,393 1,477 8 9,530 5,703 44,793 10,092 60,588 $ 70,118	September 30, 2024
				$ 8,614 4,368 1,748 - 14,730 53,296 62,941 6,553 122,790 $ 137,520

11. Subsidiaries

Subsidiaries included in the consolidated financial statements

The business entities of the consolidated financial statements are as follows:

Investor The Company The Company The Company The Company United Strategy Inc. United Strategy Inc. POWER LOGIC TECH. INC Power Logic Holdings Inc.	Subsidiaryname Power Logic Holdings Inc. United Strategy Inc. POWER LOGIC TECH. INC Sunny Sharp International Limited (including Taiwan branch) DONG GUAN DONG LI DIAN ZI CO. LTD Taiyi (Jiangxi) Electronic Technology Co., Ltd. CICHENG TECHNOLOGY CO., LTD. Power Logic Tech(Thailand) Co, Ltd	Nature of the operation	The share-holding percentage as of September 30, 2025 100% 100% 100% 100% 100% 100% 80% 100% (Note)	The share-holding percentage as of December 31, 2024 100% 100% 100% 100% 100% 100% 80% -	The share-holding percentage as of September 30, 2024
		Investment holding Investment holding Sales of cooling fan Investment in holding company and sales of cooling fan Production and sale of cooling fan Production and sale of cooling fan Production and sale of cooling fan Production and sale of cooling fan			100% 100% 100% 100% 100% 100% 80% -

Note: Power Logic Tech (Thailand) Co., Ltd. was approved for establishment in April 2025. The Company has invested USD 3,600 thousand (equivalent to NTD 116,777 thousand) in operations.

15 -

12. Property, plant, and equipment

	January1to September30,2025	January1to September30,2025	January1to September30,2025	January1to September30,2025	January1to September30,2025	January1to September30,2025	January1to September30,2025	January1to September30,2025	January1to September30,2025	January1to September30,2025	January1to September30,2025	January1to September30,2025	January1to September30,2025
Buildings and leasehold Machine and Transportation Furniture and Other
	Land		improvement		equipment		equipment	fixtures		equipment		Total
Cost
Balance, beginning $ 516,061 $ 779,791 $ 374,104							$ 12,786 $ 26,215 $ 126,671 $ 1,835,628
Increase	-		-		12,137		26	-		16,404		28,567
Current disposal	( 36,807 )		( 19,868 )		( 1,388 )		-	( 577 )		( 108 )		( 58,748 )
Reclassification		-		-		3,958	-		-		112		4,070
Net exchange differences		- (		31,111) (		17,286) (	774) (		453) (		7,047) (
													56,671)
Balance, ending		$ 479,254		$ 728,812		$ 371,525	$ 12,038		$ 25,185		$ 136,032		$ 1,752,846

Accumulated depreciation Balance, beginning
		$ -		$ 109,943		$ 191,637	$ 5,494		$ 22,760		$ 77,424
													$ 407,258
Increase		-		18,689		26,165	634		857		10,127		56,472
Current disposal		-	( 2,668 )		( 1,303 )		-	( 573 )		( 106 )		( 4,650 )
Net exchange differences		- (		5,093) (		8,325) (	343) (		352) (		4,186) (
													18,299)
Balance, ending		$ -		$ 120,871		$ 208,174	$ 5,785		$ 22,692		$ 83,259		$ 440,781
Net, ending		$ 479,254		$ 607,941		$ 163,351	$ 6,253		$ 2,493		$ 52,773		$ 1,312,065

	January1to September30,2024	January1to September30,2024	January1to September30,2024	January1to September30,2024	January1to September30,2024	January1to September30,2024	January1to September30,2024	January1to September30,2024	January1to September30,2024	January1to September30,2024	January1to September30,2024	January1to September30,2024
	Buildings and leasehold Machine and Transportation Furniture and Other
	Land	improvement		equipment		equipment	fixtures		equipment		Total
Cost
Balance, beginning	$ 286,501		$ 671,296 $ 306,761			$ 12,153 $ 25,488 $ 112,468 $ 1,414,667
Increase	7,162		1,054	26,238		-	120		6,450		41,024
Current disposal	-		-	( 51 )		-	( 8 )		( 27 )		( 86 )
Reclassification	-		-		5,171	-		-	( 620 )			4,551
Net exchange differences	-		20,396		9,356	509		287		4,140
												34,688
Balance, ending	$ 293,663		$ 692,746		$ 347,475	$ 12,662		$ 25,887		$ 122,411		$ 1,494,844

Accumulated depreciation
Balance, beginning	$ -		$ 82,975		$ 153,189	$ 4,382		$ 20,889		$ 60,646
												$ 322,081
Increase	-		17,398		23,892	655		1,237		10,790		53,972
Current disposal	-		-	( 48 )		-	( 7 )		( 27 )		( 82 )
Reclassification	-		-		336	-		-	( 336 )			-
Net exchange differences	-		2,514		4,549	185		197		2,162
												9,607
Balance, ending	$ -		$ 102,887		$ 181,918	$ 5,222		$ 22,316		$ 73,235		$ 385,578
Net, ending	$ 293,663		$ 589,859		$ 165,557	$ 7,440		$ 3,571		$ 49,176		$ 1,109,266

The net operating lease for buildings and leasehold improvements and related equipment as of September 30, 2025 and 2024 were NTD 32,798 thousand and NTD 37,828 thousand, respectively.

The subsidiary, Power Logic Tech. Inc., sold the real estate and parking space at 2F., No. 16, Jian 8th Rd., Zhonghe Dist., New Taipei City, on February 27, 2025, with the transfer of ownership completed on March 26, 2025. The sale price was NTD 69,101 thousand (before tax), resulting in a gain on disposal of NTD 15,094 thousand (recorded under other gains and losses). The full amount of the proceeds has been received.

On September 23, 2024, the subsidiary Power Logic Tech. Inc. purchased the land and real estate (building) for use at 15F, No. 166, Jian 1st Rd, Zhonghe District, New Taipei City. The transaction was completed on November 19, 2024, for an amount of NTD 300,400 thousand, and the said transaction price was paid in full.

16 -

Depreciation expenses is appropriated in accordance with the straight line method and the years of useful life illustrated below:

eful life illustrated below:
Buildings	5 to 48 years
Leasehold improvement	5 to 10 years
Machine and equipment	2 to 10 years
Transportation equipment	5 to 10 years
Furniture and fixtures	2 to 10 years
Other equipment	2 to 10 years

The amount of real estate, plant and equipment registered for secured loan, please refer to Note 26.

13. Lease agreement

(1) Right-of-use assets.

o Note 26. agreement Right-of-use assets.
Carrying amount of the right-of-use asset Land Buildings Transportation equipment	September 30, 2025 $ 16,978 17,614 6,926 $ 41,518	December 31, 2024 $ 18,392 30,580 3,932 $ 52,904	September 30, 2024
				$ 18,320 34,238 4,483 $ 57,041

Addition of right-of-use assets Depreciation expense of the right-of-use asset Land Buildings Transportation equipment	July 1 to September 30, 2025 $ 98 3,687 951 $ 4,736	July 1 to September 30, 2024 $ 106 3,949 552 $ 4,607	January 1 to September 30, 2025 $ 5,846 $ 306 11,422 2,852 $ 14,580	January 1 to September 30, 2024	January 1 to September 30, 2024
					$ 44,904 $ 316 11,769 1,619 $ 13,704

The sub-subsidiary of the Company, Taiyi (Jiangxi) Electronic Technology Co., Ltd., acquired the land use right of the original factory site from Anfu County Industrial Construction Investment Development Co for RMB 4,493 thousand in 2020 and proceeded to improve the factory and establish the production line. The state-owned land use rights of the People’s Republic of China have been obtained for the above-mentioned lands with 50 years of economic life, the use rights of which will expire in January 2068.

Except for the aforesaid added and recognized depreciation expenses, the right-of-use assets of the consolidated company have not been significantly subleased or impaired as of January 1 to September 30, 2025 and 2024.

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(2) Lease liability

Lease liability
Carrying amount of the lease liabilities Current Non-current	September 30, 2025 $ 17,972 $ 7,206	December 31, 2024 $ 18,083 $ 17,008	September 30, 2024
				$ 17,791 $ 21,411

The range of discount rates for lease liabilities is as follows:

Buildings Transportation equipment	September 30, 2025 2.00%~3.80% 2.28%~2.47%	December 31, 2024 2.00%~3.80% 2.00%~2.41%	September 30, 2024
			2.00%~3.80% 2.00%

(3) Other lease information

Low-value asset lease expense Total cash of leases (outflow)	July 1 to September 30, 2025 $ 88	July 1 to September 30, 2024 $ 87	January 1 to September 30, 2025	January 1 to September 30, 2025	January 1 to September 30, 2024 $ 268 ($ 14,376)	January 1 to September 30, 2024 $ 268 ($ 14,376)
			(	$ 263 $ 15,297)		$ 268 $ 14,376)

14. Intangible assets

Intangible assets	Intangible assets	Intangible assets
January 1 to September 30, 2025 January 1 to September 30, 2024
Cost
Balance, beginning $ 33,659 $ 29,117
Increase 1,747 112
Decrease in the period ( 4,407 ) ( 560 )
Net exchange differences (	1,144)	589
Balance, ending	$ 29,855	$ 29,258

Accumulated amortization
Balance, beginning	$ 24,644	$ 20,683
Amortization in the current period	4,110	2,778
Decrease in the period ( 4,407 ) ( 560 )
Net exchange differences (	760)	388
Balance, ending	$ 23,587	$ 23,289

Net, ending	$ 6,268	$ 5,969

Intangible assets composed mainly by computer software and amortized over 3-10 years of useful life.

18 -

15. Borrowings

(1) Short-term borrowings

wings Short-term borrowings
Guaranteed loans(Note 26) Bank’s debt Unsecured loans Credit loan	September 30, 2025 $ 30,000 $ 21,424	December 31, 2024 $ 70,000 $ -	September 30, 2024
				$ 20,000 $ -

The bank short-term borrowing rate were 2.45%~2.70%, 2.42% and 2.44% on September 30, 2025, December 31 and September 30, 2024 respectively.

(2) Long-term borrowings

Long-term borrowings
Guaranteed loans(Note 26) Bank’s debt Less: Amount due in one year Long-term borrowings	September 30, 2025 $ 380,220 29,280 $ 350,940	December 31, 2024 $ 402,180 29,280 $ 372,900	September 30, 2024
				$ 187,060 14,640 $ 172,420

The bank long-term loan interest rate were 2.45%, 2.47%~2.58%, and 2.55% on September 30, 2025, December 31 and September 30, 2024, respectively.

(3) The information of consolidated company registered as mortgage for bank borrowings secured loan, please refer to Note 26.

(4) The information of endorsement guarantee provided by consolidated company, please refer to Note 29.

16. Other payables

please refer to Note 29. Other payables
Current Salaries payable Insurance and housing fund payable Processing expenses payable Temporary employee service payable Commission and marketing expense Other payable Equipment payables Other payables	September 30, 2025 $ 69,620 45,050 43,441 4,162 308 31,223 9,326 8,646 $ 211,776	December 31, 2024 $ 58,249 53,377 38,755 859 573 27,896 5,537 3,303 $ 188,549	September 30, 2024
				$ 48,490 52,965 38,062 766 442 27,736 3,047 1,975 $ 173,483

19 -

17. Corporate bonds payable

Corporate bonds payable
The third domestic unsecured convertible corporate bond Less: Domestic third unsecured convertible corporate bonds amount net of depreciation The fourth domestic unsecured convertible corporate bond Less: Domestic fourth unsecured convertible corporate bonds amount net of depreciation Less: Amount due in one year	September 30, 2025 $ - - 250,000 ( 17,958 ) - $ 232,042	December 31, 2024 $ 47,000 ( 612 ) - - ( 46,388) $ -	September 30, 2024
			$ 49,400 ( 907 ) - - ( 48,493) $ -

(1) The Board of directors approved to issue unsecured convertible bond in Taiwan for the third time on May 6, 2022. The issuance is approved by Letter No. Financial-Supervisory-Securities-Corporate-11103468261 of the Financial Supervisory Commission. The unsecured convertible bond is issued in Taiwan for the third time on August 12, 2022 with terms below,
Total Issued: NTD 200,000 thousand.
Par value and issue price: NTD 100 thousand each; issued at 100% of the par value.
Stated rate: annual interest 0%
Duration: 3 years; August 12, 2022 to August 12, 2025.
Redemption method of the Company:
- (1) Redemption at maturity date:

The convertible bonds except be redeemed, buy-back, or converted, the Company repay with bond face value by cash at the maturity date.

(2) Redeem before maturity date

From the next date after issuance of 3 months to the 40 days before the maturity date, if the common stock closing price exceed 30% of conversion price for continuous 30 trade days, the Company could collect all bonds at face value by cash.

20 -

From the next date after issuance of 3 months to the 40 days before the maturity date, if the outstanding balance is lower than 10% of total issuance amount, the Company could collect all bonds at face value by cash.

Sell back:

The bond holder could ask the Company to redeem the convertible bond hold at face value plus interest compensation after 2 years of issuance.

Conversion:
(1) Conversion period:

Start from the next date after issuance of 3 months and end at the maturity date.

(2) Conversion price:

The conversion price is set by choosing one of the simple arithmetic average closing prices of the Company’s common shares over the period of one, three or five business day(s) prior to the record date to be the benchmark price, multiplied by the conversion premium rate of 105.1% as the basis of the calculation. The conversion price is set at NTD 48.50 per share upon issuance. As the Company issued common shares through a cash capital increase in 2025, the conversion price of the Company’s convertible bonds has been adjusted to NTD 40.91 per share in accordance with the terms of the contract.

(3) Conversion price adjustment:

After the conversion price defined before the actual issuance date, the conversion price should be adjusted in accordance with the price adjustment formula if ex-rights or ex-dividend exists.

The convertible bond issued on August 12, 2022 includes liability and equity component. The equity component is presented as additional paid-in capitalStock option under equity. The effective interest rate of liabilities components is initially recognized at 2.17%.

is initially recognized at 2.17%.
Issuance price (deduct transaction cost NTD 2,825
thousand)		$	197,175
Equity component	(		8,872 )
Financial liabilities-conversion and sell-back	(		789)
liability component at issuance date			187,514
Interest calculated at the effective rate of 2.17%			7,035
Conversion of bonds payable into common shares	(		194,049 )
Redemption of corporate bonds	(		500)
Liability component on September 30, 2025		$	-

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On August 12, 2025, the Company redeemed the remaining unconverted convertible bonds with a face value of NTD 500 thousand and reclassified the capital reserve – equity component of issued convertible bonds – stock warrants to capital reserve – lapsed stock warrants, amounting to NTD 22 thousand.

During the period of issuance of the third domestic unsecured convertible corporate bonds mentioned above, a total face value of NTD 199,500 thousand in bonds was converted into 4,512 thousand shares of the Company’s common stock.

(2) The Board of directors approved to issue unsecured convertible bond in Taiwan for the fourth time on May 9, 2025 and June 20, 2025. The issuance is approved by Letter No. Financial-Supervisory-Securities-Corporate-11403518031 of the Financial Supervisory Commission. The unsecured convertible bond is issued in Taiwan for the fourth time on August 27, 2025 with terms below,
Total Issued: NTD 250,000 thousand.
Par value and issue price: NTD 100 thousand each; issued at 100% of the par value.
Stated rate: annual interest 0%
Duration: 3 years; August 27, 2025 to August 27, 2028.
Redemption method of the Company:
- (1) Redemption at maturity date:

The convertible bonds except be redeemed, buy-back, or converted, the Company repay with bond face value by cash at the maturity date.

(2) Redeem before maturity date

Sell back:

The bond holder could ask the Company to redeem the convertible bond hold at face value plus interest compensation after 2 years of issuance.

22 -

7. Conversion:

(1) Conversion period:

Start from the next date after issuance of 3 months and end at the maturity date.

(2) Conversion price:

The conversion price is set by choosing one of the simple arithmetic average closing prices of the Company’s common shares over the period of one, three or five business day(s) prior to the record date to be the benchmark price, multiplied by the conversion premium rate of 105.01% as the basis of the calculation. The conversion price is set at NTD 79.79 per share upon issuance. As the Company issued common shares through a cash capital increase in 2025, the conversion price of the Company’s convertible bonds has been adjusted to NTD 78.61 per share in accordance with the terms of the contract.

(3) Conversion price adjustment:

After the conversion price defined before the actual issuance date, the conversion price should be adjusted in accordance with the price adjustment formula if ex-rights or ex-dividend exists.

The convertible bond issued on August 27, 2025 includes liability and equity component. The equity component is presented as additional paid-in capitalStock option under equity. The effective interest rate of liabilities components is initially recognized at 2.60%.

is initially recognized at 2.60%.
Issuance price (deduct transaction cost NTD 2,806
thousand)		$ 247,194
Equity component	(	15,128 )
Financial liabilities-conversion and sell-back	(	593)
liability component at issuance date		231,473
Interest calculated at the effective rate of 2.60%		569
Liability component on September 30, 2025		$ 232,042

18. Retirement benefits plan

The pension system of the “Labor Pension Act” that is applicable to the Consolidated Company is a defined contribution pension plan subject to government management with an amount equivalent to 6% of the monthly salary appropriated and contributed to the personal account with the Bureau of Labor Insurance. The defined contributed pension cost recognized in July 1 to September 30, 2025 and 2024, January 1 to September 30, 2025 and 2024 were NTD 1,011 thousand, NTD 787 thousand, NTD 2,814 thousand and NTD 2,301 thousand, respectively, by consolidated company.

The subsidiaries registered in P.R.C contribute 13% of total salary to endowment insurance in accordance with local endowment insurance plan. The pension fund management is the responsibility of management. The company’s responsibility is contribution monthly without further obligations. The defined contributed pension cost recognized in July 1 to September 30, 2025 and 2024, January 1 to September 30, 2025

23 -

and 2024 were NTD 4,386 thousand, NTD 5,957 thousand, NTD 11,837 thousand and NTD 15,334 thousand, respectively, per previous pension plan.

19. Equity

(1) Share Capital

y Share Capital
Authorized number of shares (thousand shares) Authorized capital Number of shares issued with fully paid-in capital (thousand shares) Outstanding capital	September 30, 2025 100,000 $ 1,000,000 41,122 $ 411,225	December 31, 2024 100,000 $ 1,000,000 37,722 $ 377,223	September 30, 2024
				100,000 $ 1,000,000 37,666 $ 376,657

On May 9, 2025, the Board of Directors resolved to issue new shares through a cash capital increase. On August 6, 2025, the Financial Supervisory Commission approved and registered the capital increase. The Company decided to issue 2,300 thousand shares for cash capital increase on August 15, 2025, and had it issued at a premium of NTD 62 per share on August 25, 2025. The base date for capital increase and stock subscription is scheduled on September 19, 2025.

Of the proposed new issuance mentioned above, 230 thousand shares will be reserved for employee stock option on May 2025. Accordingly, an employee compensation (under salary expense) and capital surplus of NTD 4,646 thousand were recognized, based on the fair value of the equity right instrument measured on the granted date.

On the “Third Domestic Unsecured Convertible Bonds” issued by the Company from January 1 to September 30, 2025 and 2024, the bondholders used 465 and 898 convertible bonds for conversion to the issued 1,100 and 2,026 thousand new shares.

(2) Capital surplus

Capital surplus
May be applied to cover accumulated deficit, distributed in cash or transferred to capital. Other capital surplus of shares Lapsed stock options May not be used for any purpose. Convertible corporate bond equity constituents - stock options	September 30, 2025 $1,043,900 8,487 15,128 $1,067,515	December 31, 2024 $ 885,055 8,465 2,085 $ 895,605	September 30, 2024
				$ 883,150 8,465 2,191 $ 893,806

24 -

The additional paid-in capital from premium on stock issuance can be used to offset deficit. When the Corporation incurs no loss the additional paid-in capital may be transferred to capital or distributed in cash, but the transfer to capital is limited to designated portion of paid-in capital.

(3) Retained earnings and Dividend Policy

The Company has authorized the Board of Directors to handle earnings distribution related matters, and has dividends and bonuses paid in cash entirely or partially; also, has it reported in the latest shareholders’ meeting.

According to the Company’s Articles of Incorporation, if there are any retained earnings at the year-end, in addition to covering the accumulated deficit, the remaining earnings shall be retained or distributed in accordance with the resolution of the Board of Directors. Please refer to Note 20-(7) for the Company’s policy on the distribution of remuneration to employees, directors and supervisors.

According to the Articles of Incorporation, based on the capital expenditure, business expanding, improve financial plan and sustainable development requirements as the Company is at the growing phase, the dividend policy is to distribute cash or stock dividend based on capital expenditure budget and capital requirement.

Except restricted by public company related laws, the earnings, if any, after closing account every year, the Board of Directors should propose earning distribution plan to shareholders’ meeting as method and priority below,

(a) Payment of tax and duty;
(b) Covering of accumulated loss of prior years (if any);
(c) Set aside 10% as the legal reserve per public company related laws, unless the legal reserve has achieved the Corporation’s paid-in capital.
(d) Set the special reserve per public company related laws or Authority’s request;
(e) The earnings of the year after deducting item (a) to (d) previous mentioned, adding the accumulated undistributed earnings of prior year is the distributable earnings. The earnings shall be distributed after the plan proposed by the Board of Directors and approved by the stockholders’ meeting. The dividend can be distributed in cash or stock. To be consistent with Cayman Islands laws, the minimum dividend should be 10% of earnings of the year after deducting item (a) to (d) previous mentioned, and the cash dividend percentage is no lower than 10% of total stockholders’ dividend and the upper limit is 100%.
25 -

The Company shall recognize and reverse special reserve in accordance with the law and regulations, and the “FAQ on the applicability of the recognition of special reserve after the adoption of IFRSs” by the Company.

The Company’s 2024 and 2023 earnings distributions are planned as follows:

Legal reserve appropriated Appropriation (reversal) of special reserve Cash dividends Cash dividend per share (NTD)		Distribution of retained earnings	Distribution of retained earnings	Distribution of retained earnings
		2024 $ 11,954 $ 56,738) $ 90,957 $ 2.40		2023
	(			$ 11,852 $ 23,220 $ 102,463 $ 2.75

The distribution of cash dividends stated in the preceding paragraph had been resolved in the board meeting on March 10, 2025 and March 14, 2024, respectively. The other earnings distribution items were resolved at the regular shareholders’ meeting on May 29, 2025 and May 31, 2024, respectively.

(4) Other equity

Exchange differences on Translating the financial statements of foreign operations

Balance, beginning Current Exchange differences from financial statements of foreign operating entities Reclassification adjustment Disposal of foreign operations Current period other comprehensive income Balance, ending	January 1 to September 30, 2025 $ 14,519 ( 85,174 ) - (85,174) ($ 70,655)	January 1 to September 30, 2024
		( $ 56,738 ) 48,952 9,677 58,629 $ 1,891

(5) Non-controlling interest

Non-controlling interest
Balance, beginning Net loss of current period Balance, ending	January 1 to September 30, 2025 $ 7,816 ( 1,328) $ 6,488	January 1 to September 30, 2024
	(	(	$ 9,071 1,021) $ 8,050

26 -

20. Consolidated net income

(1) Interest revenue

Consolidated net income (1) Interest revenue
July 1 to September 30, 2025 Bank deposits $ 4,358 (2) Other income July 1 to September 30, 2025 Rental income $ 570 Government grants (Note 23) 8,546 Others 13,436 $ 22,552 (3) Other gains and losses July 1 to September 30, 2025 Gain or loss on disposal of property, plant, and equipment ( $ 8 ) Net foreign exchange gain (loss) 13,696 Gain (loss) on financial assets and liabilities at fair value through profit and loss ( 58 ) Others ( 50) $ 13,580 (4) Financial cost July 1 to September 30, 2025 Bank’s debt $ 2,665 Interest on the convertible bonds 580 Interest on lease liabilities 234 Total $ 3,479 (5) Depreciation, and amortization July 1 to September 30, 2025 Property, plant, and equipment $ 18,386 Right-of-use assets. 4,736 Intangible assets 1,339 Total $ 24,461	July 1 to September 30, 2024 $ 5,474 July 1 to September 30, 2024 $ 833 43,785 2,141 $ 46,759 July 1 to September 30, 2024 ( $ 4 ) ( 14,931 ) ( 45 ) - ($ 14,980) July 1 to September 30, 2024 $ 1,223 263 373 $ 1,859 July 1 to September 30, 2024 $ 18,432 4,607 931 $ 23,970	January 1 to September 30, 2025 $ 14,125 January 1 to September 30, 2025 $ 3,402 9,566 17,434 $ 30,402 January 1 to September 30, 2025 $ 15,003 ( 29,631 ) ( 73 ) ( 908) ($ 15,609) January 1 to September 30, 2025 $ 8,235 972 848 $ 10,055 January 1 to September 30, 2025 $ 56,472 14,580 4,110 $ 75,162	January 1 to September 30, 2024
			$ 14,146 January 1 to September 30, 2024
			$ 2,886 48,245 2,799 $ 53,930 January 1 to September 30, 2024
			( $ 4 ) 6,692 118 - $ 6,806 January 1 to September 30, 2024
			$ 4,112 1,255 1,068 $ 6,435 January 1 to September 30, 2024
				$ 53,972 13,704 2,778 $ 70,454

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July 1 to September 30, 2025 Depreciation expense summary by function Operating cost $ 13,698 Operating expenses 9,424 $ 23,122 Amortization expense summary by function Operating cost $ 151 Operating expenses 1,188 $ 1,339 (6) Employee benefits expenses July 1 to September 30, 2025 Short-term employee benefits Salaries and wages $ 96,259 Labor insurance and national health insurance 4,417 Share-based payment transaction - equity-settled 4,646 Retirement benefits 5,397 Other employee benefits 8,327 Total employee benefits expenses $ 119,046 Summary by function Operating cost $ 66,734 Operating expenses 52,312 $ 119,046	July 1 to September 30, 2025		July 1 to September 30, 2024 $ 13,522 9,517 $ 23,039 $ 111 820 $ 931 July 1 to September 30, 2024 $ 79,315 4,552 - 6,744 4,670 $ 95,281 $ 55,010 40,271 $ 95,281	January 1 to September 30, 2025 $ 41,808 29,244 $ 71,052 $ 471 3,639 $ 4,110 January 1 to September 30, 2025 $ 296,162 12,821 4,646 14,651 21,089 $ 349,369 $ 206,820 142,549 $ 349,369	January 1 to September 30, 2024
					$ 40,778 26,898 $ 67,676 $ 315 2,463 $ 2,778 January 1 to September 30, 2024
		$ 96,259 4,417 4,646 5,397 8,327 $ 119,046 $ 66,734 52,312 $ 119,046				$ 216,614 13,043 - 17,635 13,118 $ 260,410 $ 150,816 109,594 $ 260,410

(7) Remuneration to employees, Directors and Supervisors

According to the Articles of Incorporation, the remuneration to employees and Directors’ is calculated by the income before tax and the remuneration to employees and Directors’ with rate no lower than 1.5% and higher than 2%. The estimated remuneration to employees and Directors and Supervisors in the July 1 to September 30, 2025 and 2024, January 1 to September 30, 2025 and 2024, were specified below:

Estimate on ratio

below: Estimate on ratio
Remuneration to employees Remuneration to directors/supervisors	January 1 to September 30, 2025 6% 2%	January 1 to September 30, 2024
		4% 2%

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Amount

Amount
Remuneration to employees Remuneration to directors/supervisors	July 1 to September 30, 2025		July 1 to September 30, 2024 $ 2,096 $ 1,048	January 1 to September 30, 2025		January 1 to September 30, 2024 $ 4,069 $ 2,034
		$ 4,668 $ 1,556			$ 11,933 $ 3,978		$ 4,069 $ 2,034

If there are still changes in the amount specified in the consolidated financial statement after announcement, proceed to the accounting of change and adjusted for booking in the next fiscal year.

The compensation of employees and remuneration to Directors and Supervisors for 2024 and 2023 were adopted by a resolution of the Board of Directors on March 10, 2025 and March 14, 2024, respectively as follows:

Amount

Amount
Remuneration to employees Remuneration to directors/supervisors	2024 Cash $ 5,192 $ 2,596	2023
		Cash
		$ 5,186 $ 2,593

The actual amount for remuneration to employees and Directors and Supervisors in 2024 and 2023 did not vary from the amount recognized in the consolidated financial statements of 2024 and 2023.

For further information on the appropriation of remuneration to the employees and Directors and Supervisors by the Company, visit the “MOPS” website of Taiwan Stock Exchange Corporation.

21. Income tax

(1) Income tax recognized in profit or loss

The major components of income tax expense are as follows:

Income tax expenses in the current period Current Additional 5% tax levied on undistributed earnings Prior year adjustment Deferred tax Current Income tax expense recognized in the profit or loss	July 1 to September 30, 2025	July 1 to September 30, 2025	July 1 to September 30, 2024 $ 8,495 - 21 8,516 5,609 $ 14,125	January 1 to September 30, 2025	January 1 to September 30, 2025	January 1 to September 30, 2024 $ 39,773 289 3,920 43,982 ( 3,502) $ 40,480	January 1 to September 30, 2024 $ 39,773 289 3,920 43,982 ( 3,502) $ 40,480
		$ 18,428 - 45 18,473 14,702 $ 33,175			$ 48,005 70 4,059 52,134 24,655 $ 76,789		$ 39,773 289 3,920 43,982 3,502) $ 40,480

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(2) Income tax audit

The tax filings for the Company and the subsidiaries verified by the tax collection agency are as followed:

Income tax audit The tax filings for the Company and the subsidiaries collection agency are as followed:	verified by the tax
POWER LOGIC TECH. INC SUNNY SHARP INTERNATIONAL LIMITED TAIWAN BRANCH`（`BVI`）` CICHENG TECHNOLOGY CO., LTD.	Year verified
	2023 2023 2023

22. Earnings per share

Earnings per share
Basic earnings per share Diluted earnings per share	July 1 to September 30, 2025 $ 1.80 $ 1.79	July 1 to September 30, 2024 $ 1.30 $ 1.27	Unit: NTD per share January 1 to September 30, 2025 January 1 to September 30, 2024 $ 4.65 $ 2.53 $ 4.57 $ 2.44

The earnings and weighted average common stock shares used in calculating the earnings per share are as follows:

Net profit of current period

Net profit of current period
The net income applied to calculate basic earnings per share Effect of dilutive potential common stock: Net interest on convertible bonds Net profits for the calculation of diluted earnings per share Number of Shares Weighted average common stock shares used to calculate basic earnings per share Effect of dilutive potential common stock: Remuneration to employees Convertible corporate bonds Weighted average common stock shares used to calculate diluted earnings per share	July 1 to September 30, 2025 $ 70,180 11 $ 70,191 July 1 to September 30, 2025 39,086 146 42 39,274	July 1 to September 30, 2024 $ 48,991 263 $ 49,254 July 1 to September 30, 2024 37,660 83 1,171 38,914	January 1 to September 30, 2025 January 1 to September 30, 2024 $ 178,337 $ 93,902 403 1,255 $ 178,740 $ 95,157 Unit: Thousand shares January 1 to September 30, 2025 January 1 to September 30, 2024 38,370 37,142 170 106 563 1,689 39,103 38,937

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If the consolidated company may choose to have the employee compensation distributed via a stock or cash dividend, calculate the diluted earnings per share, assuming that the bonus to employees is with a stock dividend distributed, with the weighted average number of shares outstanding included when the potential common stock has a diluted effect. When diluted EPS is calculated in the next year resolves the number of share distribution for employee compensation, the dilution effect is also considered for such potential common shares.

23. Government grant

(1) In July 2019, the consolidated company entered into an investment agreement with the People’s Government of Anfu County, Jiangxi Province, in which subsidies amounting to RMB 3,681 thousand and RMB 3,523 thousand were paid for land use rights and buildings, respectively; in addition, subsidies amounting to RMB 2,123 thousand were paid for building-related improvements, for a total of approximately NTD 40,411 thousand. Therefore, the above-mentioned government grants are classified as asset-related subsidies and are recorded as deferred income, and a gain or loss of NTD 381 thousand, NTD 411 thousand, NTD 1,185 thousand and NTD 1,225 thousand were recognized in July 1 to September 30, 2025 and 2024, January 1 to September 30, 2025 and 2024 under other income on a systematic basis over the depreciation period (recorded under other income).
(2) The Consolidated Company received other government subsidies for an amount of NTD 8,165 thousand and NTD 43,374 thousand on July 1 to September 30, 2025, and 2024, respectively; also, NTD 8,381 thousand and NTD 47,020 thousand (booked in the “other income” account) on January 1 to September 30, 2025 and 2024, respectively.

24. Financial instruments

(1) Information on fair value – financial instruments at fair value on repetition.

1.	Fair value level September 30, 2025 Financial liabilities at fair value through profit and loss Sell-/buy-back of convertible bonds December 31, 2024 Financial assets at fair value through profit and loss Sell-/buy-back of convertible bonds		Level 1 $ - Level 1 $ -		Level 2 $ - Level 2 $ -		Level 3 $ 650 Level 3 $ 19		Total
									$ 650 Total
									$ 19

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September 30, 2024

September 30, 2024
Financial assets at fair value through profit and loss Sell-/buy-back of convertible bonds		Level 1 $ -		Level 2 $ -		Level 3 $ 15		Total
								$ 15

Financial instruments are adjusted according to Level 3 fair value. January 1 to September 30, 2025

January 1 to September 30, 2025
Financial assets (liabilities) Balance, beginning Addition due to issuance of new debt Recognized in profit and loss (Other profit or loss) Delisting of convertible corporate bonds Balance, ending	Financial assets (liabilities) at fair value through profit and loss
	Derivatives
	$ 19 ( 593 ) ( 73 ) ( 3) ($ 650)

January 1 to September 30, 2024

January 1 to September 30, 2024
Financial assets (liabilities) Balance, beginning Recognized in profit and loss (Other profit or loss) Delisting of convertible corporate bonds Balance, ending	Financial assets (liabilities) at fair value through profit and loss
	Derivatives
	( $ 14 ) 118 ( 89) $ 15

3. Evaluation techniques and an input value of Level 3 fair value measurement

For selling-/buying-back of convertible bonds, the binary tree–based model for convertible bond valuation is used to estimate the fair value and the stock price volatility is used as significant unobservable inputs. When share price volatility increases, the fair value of these derivatives will increase. The stock price volatility adopted on September 30, 2025, December 31 and September 30, 2024, was 50.35%, 36.23%, and 33.71%, respectively.

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(2) Categories of financial instruments

Financial assets Financial assets based on cost after amortization (Note 1) The held-for-trade assets measured at fair value through profit or loss Financial liabilities The held-for-trade assets measured at fair value through profit or loss Measured at amortized cost (Note 2)	September 30, 2025 $ 1,706,366 - $ 1,706,366 $ 650 1,071,028 $ 1,071,678	December 31, 2024 $ 1,243,753 19 $ 1,243,772 $ - 866,574 $ 866,574	September 30, 2024	September 30, 2024
				$ 1,201,996 15 $ 1,202,011 $ - 571,189 $ 571,189

Note 1: The balance includes financial assets at amortized cost such as cash and cash equivalents, net notes and accounts receivable, refundable deposits and other receivables.
Note 2: The balance includes short-term borrowings, notes and accounts payable, other payables, long-term borrowings due within one year, corporate bonds payable, and financial liabilities measured at amortized cost, such as corporate bonds payable and long-term borrowings.
(3) Financial risk management purpose and policies

The financial instruments of the consolidated company are account receivable, account payable, corporate bonds payable and lease liability included. These risks include market risk (including currency risk and interest rate risk), credit risk and liquidity risk. The managements monitor risk and execute policy to reduce risk exposure according to its’ authority.

1. Market Risk

The major financial risk faced by the consolidated company resulted from the operating activities include foreign exchange rate risk [see (1) below] and interest rate risk [see (2) below].

There is no change in the consolidated company’s related financial instruments market risk exposure and the way the consolidated company manages and assesses the exposure.

(1) Exchange rate risk

The consolidated company is exposure to exchange rate fluctuation because its’ subsidiaries sell and purchase in foreign currency.

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Please refer to Note 28 for the consolidated company’s monetary assets and monetary liabilities book value (including the written-off monetary items that are measured with non-functional currency on the consolidated financial statements) that are measured with non-functional currency on the balance sheet date.

Sensitivity analysis

Influences to the consolidated companies mainly arise from fluctuations in USD.

The consolidated company’s sensitivity analysis for New Taiwan Dollar (functional currency) to each relevant foreign currency exchange rates that increased or decreased by 5% is illustrated in the following table. The 5% sensitivity is used internally for reporting the exchange rate risk to management and is the assessment by management regarding the reasonable and possible changes in foreign exchange rates. The sensitivity analysis includes only the outstanding monetary items in foreign currency; also, the translation at year-end is adjusted in accordance with the changes in exchange rates by 5%. The table below indicates the income before tax increase amount when NTD devalued 5% against other related currencies; the income before tax decrease the same amount when NTD appreciated 5% against other related currencies.

Profit and loss	Impact of USD	Impact of USD
	January 1 to September 30, 2025 $ 41,755	January 1 to September 30, 2024
		$ 26,509

(2) Interest rate risk

The interest rate exposure is from the entities within the consolidated company borrowing with fixed and floating rates.

The book value of financial liability belonged to consolidated company exposed to interest rate as of balance sheet date is as below,

With fair value interest rate risk - Financial liabilities With cash flow interest rate risk - Financial liabilities	September 30, 2025 $ 51,424 $ 380,220	December 31, 2024 $ 70,000 $ 402,180	September 30, 2024	September 30, 2024
				$ 20,000 $ 187,060

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Sensitivity analysis

The following sensitivity analyses are based on the interest rate risk exposure of the derivative and non-derivative instruments on the balance sheet date. For liabilities with floating rate, it is analyzed by assuming the liabilities on the balance sheet date are outstanding throughout the reporting period. The change in interest rate reported internally to management is the interest rate plus or minus 50 BPS, which represents management’s assessment of the reasonable and possible changes in interest rates.

If the interest increase 50 BPS and other variables remain unchanged, the income before tax of consolidated company decrease NTD 1,426 thousand and NTD 935 thousand in January 1 to September 30, 2025 and 2024. It is mainly caused by the floating borrowing rates.

2. Credit Risk

Credit risk refers to the counterparty’s default on contractual obligations resulting in financial loss to the Group. As of balance sheet date, the maximum financial loss credit risk exposure of financial loss on obligation unfulfilled by the transaction party and financial guarantee provided by consolidated company is mainly from the book value of financial asset recognized in consolidated balance sheet.

The consolidated company rates the important customers with publicly obtained financial information and transaction record. The consolidated company continuously monitor the credit exposure and transaction parties’ credit ratings and scatters the total transaction amount to credit rating qualified customers. The credit facility of transaction party is reviews and approved yearly by accounting departments to control credit exposure.

The credit risk of the consolidated company is from its’ biggest customer. The total account receivable portion from that customer is 32%, 27% and 23% as of September 30, 2025, December 31 and September 30, 2024 respectively.

3. Liquidity Risk

The consolidated company has supported the Group’s business operation and mitigated the impact of changes in cash flow by managing and maintaining sufficient cash and cash equivalent position. The consolidated company’s management monitors the use of banking facilities and ensures the compliance of loan agreement.

Bank loan is an important source of liquidity to the consolidated company. As of September 30, 2025, December 31 and September 30, 2024, the financing facility of the consolidated company, please refer to financing facility explanation (2) below.

(1) Liquidity and interest rate risk table of non-derivative financial liabilities

Non-derivative financial liabilities remaining contract maturity analysis is prepared in accordance with the consolidated company’s undiscounted cash flow (including principal and estimated interest) of financial liabilities on the possible earliest repayment date upon request. Therefore, the consolidated company may be required to immediately

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repay the bank loan is illustrated in the following table without considering the probability that the bank may immediately exercise such right. The other non-derivative financial liabilities maturity analysis is prepared in accordance with the agreed repayment date.

For the cash flow of the interest paid in accordance with the floating rate, the undiscounted interest amount is deduced from the yield rate curve on the balance sheet date.

September 30, 2025

Non-derivative financial liabilities Notes and account payables No interest-bearing liabilities Lease liability Floating rate instruments Fixed interest rate:		Payment on demand or less than 1 month $ 47,883 - 1,651 2,440 51,424 $ 103,398		One-three months $ 97,318 - 3,301 4,880 - $ 105,499	3 months ~ 1 year $ 50,365 - 13,579 21,960 - $ 85,904		1~5 years $ - 250,000 7,313 350,940 - $ 608,253	Over 5 years	Over 5 years
									$ - - - - - $ -

December 31, 2024

Non-derivative financial liabilities Notes and account payables No interest-bearing liabilities Lease liability Floating rate instruments Fixed interest rate:		Payment on demand or less than 1 month $ 41,147 47,000 1,587 2,440 70,000 $ 162,174		One-three months $ 77,181 - 3,174 4,880 - $ 85,235	3 months ~ 1 year $ 41,129 - 14,281 21,960 - $ 77,370		1~5 years $ - - 17,342 372,900 - $ 390,242	Over 5 years	Over 5 years
									$ - - - - - $ -

September 30, 2024

Non-derivative financial liabilities Notes and account payables No interest-bearing liabilities Lease liability Floating rate instruments Fixed interest rate:		Payment on demand or less than 1 month $ 30,526 49,400 1,575 1,220 20,000 $ 102,721		One-three months $ 62,189 - 3,150 2,440 - $ 67,779	3 months ~ 1 year $ 49,438 - 14,173 10,980 - $ 74,591		1~5 years $ - - 21,921 58,560 - $ 80,481	Over 5 years	Over 5 years
									$ - - - 113,860 - $ 113,860

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(2) Financing facilities

Financing facilities
Guaranteed bank loan amount - The amount expensed - The amount not yet expensed	September 30, 2025 $ 431,644 589,006 $ 1,020,650	December 31, 2024 $ 472,180 519,453 $ 991,633	September 30, 2024
				$ 207,060 561,216 $ 768,276

25. Related party transactions

Remunerations to the management

Short-term employee benefits Retirement benefits Share-based payment	July 1 to September 30, 2025 $ 4,016 64 934 $ 5,014	July 1 to September 30, 2024 $ 3,663 61 - $ 3,724	January 1 to September 30, 2025	January 1 to September 30, 2025	January 1 to September 30, 2024	January 1 to September 30, 2024
				$ 11,660 189 934 $ 12,783		$ 10,912 181 - $ 11,093

26. Pledged assets

Below assets are collaterals for bank borrowings:

Land, buildings and architecture	September 30, 2025 $ 692,580	December 31, 2024 $ 751,759	September 30, 2024	September 30, 2024
				$ 449,143

27. Significant contingent liabilities and unrecognized contractual commitments

In addition to those described in other notes, the significant commitments and contingencies of the consolidated company as of the balance sheet date are as follows:

Material commitments

The Consolidated Company’s unrecognized contractual commitment is as follows:

Purchase of property, plant, and equipment	September 30, 2025 $ 124,868	December 31, 2024 $ -	September 30, 2024	September 30, 2024
				$ 270,360

The subsidiary, POWER LOGIC TECH (THAILAND) CO., LTD., purchased land and a factory for self-use on May 9, 2025, for a total transaction amount of THB 214,140 thousand (equivalent to NTD 202,705 thousand). THB 82,228 thousand (equivalent to NTD 77,837 thousand) had been paid for the aforementioned property as of September 30, 2025, and is recorded under “prepayment for equipment.” As of November 10, 2025, the transfer of ownership had not been completed.

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28. Information on foreign currency assets and liabilities with significant influence

The following information is presented in foreign currency other than the functional currency of each entity of the Consolidated Company. The disclosed exchange rate refers to the exchange rate that such foreign currency converting into the functional currency. Foreign currency assets and liabilities with significant influence as follows:

September 30, 2025

September 30, 2025
Foreign currency assets Monetary item USD USD Foreign currency liabilities Monetary item USD USD December 31, 2024 Foreign currency assets Monetary item USD USD Foreign currency liabilities Monetary item USD USD September 30, 2024 Foreign currency assets Monetary item USD USD Foreign currency liabilities Monetary item USD USD	Foreign currency $ 26,114 2,498 1,116 66 Foreign currency $ 16,007 1,828 1,031 41 Foreign currency $ 16,434 1,393 1,031 46	Exchange rate 30.445 (USD : NTD) 7.1055 (USD : RMB) 30.445 (USD : NTD) 7.1055 (USD : RMB) Exchange rate 32.785 (USD : NTD) 7.1884 (USD : RMB) 32.785 (USD : NTD) 7.1884 (USD : RMB) Exchange rate 31.650 (USD : NTD) 7.0074 (USD : RMB) 31.650 (USD : NTD) 7.0074 (USD : RMB)	Book value
			$ 795,031 $ 76,054 $ 33,984 $ 1,995 Book value
			$ 524,791 $ 59,941 $ 33,810 $ 1,346 Book value
				$ 520,147 $ 44,109 $ 32,624 $ 1,458

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The consolidated company mainly take the foreign currency exchange risk other than the US dollar. The following information is presented in the functional currency of each entity possessing foreign currency. The disclosed exchange rate refers to the exchange rate of such functional currency converting into the presentation currency. Foreign currency gains/losses of material impact (including realized and unrealized):

January 1 to September 30, 2025 Functional currency exchanges for presentation currency Net gain (loss) on foreign exchange 1 (NTD: NTD) ( $ 28,075 ) 4.357 (RMB: NTD) ( 1,556) ($ 29,631) July 1 to September 30, 2025 Functional currency exchanges for presentation currency Net gain (loss) on foreign exchange 1 (NTD: NTD) $ 15,046 4.357 (RMB: NTD) ( 1,350) $ 13,696	January 1 to September 30, 2025 Functional currency exchanges for presentation currency Net gain (loss) on foreign exchange 1 (NTD: NTD) ( $ 28,075 ) 4.357 (RMB: NTD) ( 1,556) ($ 29,631) July 1 to September 30, 2025 Functional currency exchanges for presentation currency Net gain (loss) on foreign exchange 1 (NTD: NTD) $ 15,046 4.357 (RMB: NTD) ( 1,350) $ 13,696	January 1 to September 30, 2024	January 1 to September 30, 2024	January 1 to September 30, 2024
		Functional currency exchanges for presentation currency Net gain (loss) on foreign exchange 1 (NTD: NTD) $ 7,117 4.506 (RMB: NTD) ( 425) $ 6,692 July 1 to September 30, 2024	Net gain (loss) on foreign exchange
Functional currency exchanges for presentation currency 1 (NTD: NTD) 4.357 (RMB: NTD)		Functional currency exchanges for presentation currency 1 (NTD: NTD) 4.506 (RMB: NTD)	Net gain (loss) on foreign exchange
	(		( ( (	$ 13,231 ) 1,700) $ 14,931)

29. Notes of disclosure

(1) Information about important transactions and (2) transfer investment information:
The Loaning of funds: Attached table 1.
Endorsement and Guarantee: Attached table 2.
Significant securities held at period end (excluding investment in subsidiaries, affiliate, and Joint Ventures equities): None.
Purchase and sales transactions with related party amount over NTD 100 million or 20% and above of paid-in capital: Attached table 3.
Related party receivables amounting to more than NTD 100 million or 20% of paid up capital: Attached table 4.
Information on investees: Attached table 5.
Other business relationship and significant transactions between the Parent Company and Subsidiaries: Attached table 6.
(3) Information regarding investment in the territory of mainland china
The names of investees in China, operation items, paid-in capital, investment method, fund remittance –in and out, share-holding proportion, investment profit or loss, book value of investment of period end, wired-back investment profit or loss and investment limitation in China: Attached table 7.
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The significant transactions conducted with the investee company in China directly or indirectly, and the price, payment terms, and unrealized profit and loss:
(1) Purchase amount and percentage and the related payables ending balance and percentage: Attached table 3 and 6.
(2) Sale amount and percentage and the related account receivable ending balance and percentage: Attached table 3 and 6.
(3) Property transaction amount and the profit and loss arising from the acquisitions: None.
(4) Notes endorsement and guarantee, or the provided collateral ending balance and its purpose: Attached table 2.
(5) The maximum financing balance, ending balance, interest rate interval, and total interest amount: Attached table 1.
(6) Others transactions with significant influences on the profit and loss or financial position, such as, the offer or acceptance of labor services: None.

30. Capital risk management

The consolidated company manages capital to ensure the Group’s enterprises to maximize shareholder’s returns by optimizing the balance of debt and equity under the precondition of continuing operation.

The consolidated company capital structure is composed by the net liability of the consolidated company (e.g. loan deducted cash and cash equivalent) and equity.

The consolidated company is not required to comply with other external capital requirements.

31. Segment information

The consolidated company is operated for cooling fan production, purchase and sale mainly. The major business decision maker evaluate the operating performance based on the whole operating result. Therefore, the consolidated company is a single operating department and mainly operated in China. The operating department information and consolidated financial statements are consistent for January 1 to September 30, 2025 and 2024.

(1) Main revenues from products and service

The major product and service revenue of the consolidated company analyzed as below:

as below:
Cooling fan Others	January 1 to September 30, 2025 $ 1,365,199 5,370 $ 1,370,569	January 1 to September 30, 2024
			$ 985,689 1,522 $ 987,211

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(2) Information by areas

The territory information of consolidated company is as below. The revenue is classified per customers’ geographic location and the non-current asset is classified per asset’s geographic location.

per asset’s geographic location.
Area Revenue from external customers China Taiwan Others Total Non-current assets: China Taiwan Others Total	January 1 to September 30, 2025 $ 1,176,079 68,395 126,095 $ 1,370,569 $ 630,674 766,780 77,837 $ 1,475,291	January 1 to September 30, 2024
			$ 849,491 40,848 96,872 $ 987,211 $ 695,897 536,215 13 $ 1,232,125

Non-current asset exclude financial instrument and deferred tax asset.

(3) Information on key customers

Income generated from a single customer for more than 10% of the consolidated company’s total income is as follows:

company’s total income is as follows:
Customer A Customer B	January 1 to September 30, 2025 $ 399,866 176,229 $ 576,095	January 1 to September 30, 2024
			$ 192,340 172,461 $ 364,801

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SUN MAX TECH LIMITED and its subsidiaries

The Loaning of Funds

January 1 to September 30, 2025

Attached table 1

Unit: Unless otherwise stated, NTD Thousand

No.	The lender of fund	The borrower of fund	Transaction title	Are they related parties	Maximum balance – current period	Balance, ending	The actual amounts disbursed	Interest rate collars	Nature of financing	Amount of business transactions	Reasons for the necessity of short-term financing	Amount of provision for bad debts	Collateral	Collateral	Limit of financing particular beneficiary (Note)	Total limit of financing (Note)	Remarks
													Name	Value
0 0 1 2 3 5	Sun Max Tech Limited Sun Max Tech Limited POWER LOGIC TECH. INC POWER LOGIC HOLDINGS INC. UNITED STRATEGY INC. SUNNY SHARP INTERNATIONAL LIMITED TAIWAN BRANCH`（`BVI`）`	POWER LOGIC TECH. INC SUNNY SHARP INTERNATION AL LIMITED TAIWAN BRANCH`（`BVI`）` Sun Max Tech Limited Sun Max Tech Limited Sun Max Tech Limited Sun Max Tech Limited	Other receivables - related parties- Other Other receivables - related parties- Other Other receivables - related parties- Other Other receivables - related parties- Other Other receivables - related parties- Other Other receivables - related parties- Other	Yes Yes Yes Yes Yes Yes	$ 30,590 ( USD 1,000 ) 61,180 ( USD 2,000 ) 53,000 16,603 ( USD 500 ) 127,920 ( RMB 25,500 ) ( USD 300 ) 14,942 ( USD 450 )	$ 30,445 ( USD 1,000 ) 60,890 ( USD 2,000 ) - - - -	$ - - - - - -	NT$ 2.80% US$ 5.60% NT$ 2.80% US$ 5.60% 1.97%~ 2.27% 5.00%~ 6.36% 4.14%~ 6.36% 5.98%	The necessity of short-term financing The necessity of short-term financing The necessity of short-term financing The necessity of short-term financing The necessity of short-term financing The necessity of short-term financing	$ - - - - - -	Operation turnover Operation turnover Operation turnover Operation turnover Operation turnover Operation turnover	$ - - - - - -	- - - - - -	- - - - - -	$ 854,164 854,164 158,532 193,488 1,330,037 122,080	$ 854,164 854,164 158,532 193,488 1,330,037 122,080	1 1 7 9 9 9

Note: Should fill in the operating procedure of lending company’s money to others, lending limitation for individual party and total lending amount.

The total lending amount to others can’t exceed 20% of latest net financial statements recently audited or reviewed by CPA. The lending to 100% direct or in-direct owned subsidiaries is not subjected to the limitation, but the highest amount can’t exceed 40% of latest net financial statements.
Business related company or entity: The total lending amount can’t exceed 10% of latest net financial statements recently audited or reviewed by CPA. The individual lending amount can’t exceed the transaction amount of recent year. The transaction amount is the purchase or sale amount which is higher.
Business related company or entity with short-term loan requirement to the Company: the total lending amount can’t exceed 10% of latest net financial statements recently audited or reviewed by CPA and the individual lending amount can’t exceed 5% of latest financial statements net value recently audited or reviewed by CPA. The lending to 100% direct or in-direct owned subsidiaries is not subjected to the limitation, but the highest total lending amount and individual lending amount can’t exceed 40% of latest net financial statements.
The total amount of subsidiaries lending to others can’t exceed 40% of subsidiary’s latest financial statements net value.
Business related company or entity with subsidiary, the total lending amount can’t exceed 20% of subsidiary’s latest net financial statements. The individual lending amount can’t exceed the transaction amount of recent year. The transaction amount is the purchase or sale amount which is higher.
Business related company or entity with short-term loan requirement to the subsidiary: the total lending amount can’t exceed 20% of subsidiary’s latest net financial statements. The individual lending amount can’t exceed 10% of latest subsidiary’s net financial statements. The net value is based on the latest financial statement audited or reviewed by CPA.
The intercompany loan between 100% direct or in-direct owned domestic subsidiaries and the Company is not subjected to the previous three limitation, but the highest total lending amount and individual lending amount can’t exceed 40% of subsidiary’s latest net financial statements.
The intercompany loan between 100% direct or in-direct owned foreign subsidiaries is not subjected to the previous four limitation, but the highest total lending amount and individual lending amount can’t exceed Subsidiary’s latest net financial statements.
The restriction on the total amount of loans and the maximum amount permitted to a single borrower in the preceding four paragraphs shall not apply to loans made by the Company to a foreign subsidiary in which the Company directly and indirectly holds 100% of the voting shares. However, the aggregate loan amount and the maximum amount permitted to any single borrower shall not exceed the net asset value of the subsidiary as per its most recent financial statements.
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Unit: Unless otherwise stated, NTD Thousand

SUN MAX TECH LIMITED and its subsidiaries

Endorsement and Guarantee

January 1 to September 30, 2025

Attached table 2

No. (Note 1)	The company providing the endorsement and/or guarantee	The party receiving the endorsement and/orguarantee	The party receiving the endorsement and/orguarantee	The limit of endorsements and/or guarantees to a single business entity	The highest balance of endorsements and/or guarantees in the current period	The ending balance of endorsements and/or guarantees	The actual amounts disbursed	The endorsements and/or guarantees secured with property	Ratio of cumulative endorsement and guarantee to net worth in the most recent financial statement (%)	The upper limit of an endorsement and/or guarantee	Guarantee and endorsement of parent company to subsidiary	Guarantee and endorsement by subsidiary to parent company	Guarantee and endorsement in Mainland China	Remarks
		Company name	Relation
0 0 0 0 0	Sun Max Tech Limited Sun Max Tech Limited Sun Max Tech Limited Sun Max Tech Limited Sun Max Tech Limited	DONG GUAN DONG LI DIAN ZI CO. LTD SUNNY SHARP INTERNATIONAL LIMITED TAIWAN BRANCH`（`BVI`）` SUNNY SHARP INTERNATIONAL LIMITED TAIWAN BRANCH`（`BVI`）` Taiyi (Jiangxi) Electronic Technology Co., Ltd. POWER LOGIC HOLDINGS INC.	Parent Company and Sub-subsidiary Parent Company and Subsidiaries Parent Company and Subsidiaries Parent Company and Sub-subsidiary Parent Company and Subsidiaries	Note 2 Note 2 Note 2 Note 2 Note 2	$ 37,006 ( RMB 8,000 ) 40,000 166,025 ( USD 5,000 ) 231,291 ( RMB 50,000 ) 116,242 ( USD 3,800 )	$ 34,278 ( RMB 8,000 ) 40,000 152,225 ( USD 5,000 ) 214,235 ( RMB 50,000 ) 115,691 ( USD 3,800 )	$ - - - 21,424 ( RMB 5,000 ) -	$ - - - - -	2% 2% 7% 10% 5%	Note 3 Note 3 Note 3 Note 3 Note 3	Y Y Y Y Y	N N N N N	Y N N Y N

Note 1: The column for numbering is elaborated below:

(1) Fill in 0 for the issuer.
(2) The investees are sequentially numbered from 1 and so forth.
Note 2: The endorsement guarantee amount to individual company by the Company do not exceed 10% of latest net financial statements audited by CPA : 2,135,411×10%=213,541, but the endorsement guarantee amount to 100% direct or in-direct owned company by the Company is not subjected to the previous limitation. The endorsement guarantee amount to individual company do not exceed 150% net value of the Company: 2,135,411×150%=3,203,117.
Note 3: The total endorsement guarantee amount by the Company do not exceed 20% of latest net financial statements audited by CPA : 2,135,411×20%=427,082, but the endorsement guarantee amount to 100% direct or in-direct owned company by the Company is not subjected to the previous limitation. The total endorsement guarantee amount do not exceed 150% net value of the Company: 2,135,411×150%=3,203,117.
43 -

SUN MAX TECH LIMITED and its subsidiaries

The purchase or sale with the related party for an amount exceeding NTD 100 million or 20% of paid-in capital

January 1 to September 30, 2025

Attached table 3

Unit: Unless otherwise stated, NTD Thousand

Purchasing (selling) company	Name of Counterparty	Relation		Transaction	Transaction		Trading terms different from general trade and reasons	Trading terms different from general trade and reasons	Account receivable(payable)	Account receivable(payable)	Remarks
			Purchas (Sale)	Amount	Percentage of total purchase (sale)	Credit term	Unit price	Credit term	Balance	Percentage to total account receivable(payable)
Taiyi (Jiangxi) Electronic Technology Co., Ltd. Taiyi (Jiangxi) Electronic Technology Co., Ltd. SUNNY SHARP INTERNATIONAL LIMITED TAIWAN BRANCH`（`BVI`）` DONG GUAN DONG LI DIAN ZI CO. LTD POWER LOGIC TECH. INC	SUNNY SHARP INTERNATIONAL LIMITED TAIWAN BRANCH`（`BVI`）` DONG GUAN DONG LI DIAN ZI CO. LTD Taiyi (Jiangxi) Electronic Technology Co., Ltd. Taiyi (Jiangxi) Electronic Technology Co., Ltd. Taiyi (Jiangxi) Electronic Technology Co., Ltd.	Affiliate Affiliate Affiliate Affiliate Affiliate	Sales Sales Sales Sales Sales	$ 387,268 89,399 152,571 235,189 109,813	27.69% 6.39% 27.07% 91.81% 82.35%	Payment term is due 90 days from the invoice date Payment term is due 90 days from the invoice date Payment term is due 90 days from the invoice date Payment term is due 90 days from the invoice date Payment term is due 90 days from the invoice date	- - - - -	- - - - -	$ 179,796 27,253 51,012 80,438 22,843	26.35% 3.99% 18.80% 87.00% 49.95%

Note: the sales and account receivable is eliminated from this consolidated statement.

44 -

SUN MAX TECH LIMITED and its subsidiaries

Accounts receivable-related party reaching NTD 100 million or more than 20% of the Paid-in shares capital

September 30, 2025

Attached table 4

Unit: Unless otherwise stated, NTD Thousand

The company booked in the receivables	Name of Counterparty	Relation	Receivables from related party	Turnover rate	Overdue Receivables from related parties	Overdue Receivables from related parties	Receivables amount collected from related parties subsequently	Provision for loss allowance
					Amount	Process
Taiyi (Jiangxi) Electronic Technology Co., Ltd.	SUNNY SHARP INTERNATIONAL LIMITED TAIWAN BRANCH`（`BVI`）`	Affiliate	$ 179,796	3.43 times	$ -	-	$ 77,054	$ -

Note: the receivables from related parties is eliminated from this consolidated statement.

45 -

SUN MAX TECH LIMITED and its subsidiaries

The information of the invested company, the location, and so on

January 1 to September 30, 2025

Attached table 5

Unit: Unless otherwise stated, NTD Thousand

Investor	Investee’s name (Note 1, 2)	Location	Principal business	Initial investment amount	Initial investment amount	Ending shareholding	Ending shareholding	Ending shareholding	Invested company’s profit and loss	Investment profit/loss recognized in the current period	Remarks
				Current yearend	Last yearend	Number of Shares	Proportion	Book value
Sun Max Tech Limited Sun Max Tech Limited Sun Max Tech Limited Sun Max Tech Limited POWER LOGIC TECH. INC POWER LOGIC HOLDINGS INC.	POWER LOGIC TECH. INC POWER LOGIC HOLDINGS INC. UNITED STRATEGY INC. SUNNY SHARP INTERNATIONAL LIMITED TAIWAN BRANCH`（`BVI`）` CICHENG TECHNOLOGY CO., LTD. POWER LOGIC TECH(THAILAND) CO., LTD.	Taiwan Samoa Samoa BVI Taiwan Thailand	Sales of cooling fan Investment holding Investment holding Investment in holding company and sales of cooling fan Sales of cooling fan Production and sale of cooling fan	$ 219,200 134,548 ( USD 4,445 ) 511,021 ( USD 16,960 ) 46,741 ( USD 1,550 ) 40,000 116,777 ( USD 3,600 )	$ 219,200 134,548 ( USD 4,445 ) 511,021 ( USD 16,960 ) 46,741 ( USD 1,550 ) 40,000 -	21,920 3,050 3,025 490 4,000 40,000	100 100 100 100 80 100	$ 396,329 193,488 1,330,037 118,721 25,954 114,129	$ 24,549 ( 6,269 ) 161,389 32,699 ( 6,638 ) 310	$ 24,549 ( 6,269 ) 161,389 33,089 ( 5,310 ) 310

Note 1: If the public company is foreign holding company registered and takes the consolidated statements as the major statement according local laws, it is acceptable to disclose to the holding company only for foreign invested disclosure.

Note 2: Fill in by following regulations if not belongs to Note 1:

(1) Columns of “Investee name”, “Area”, “Operating items”, “Original investment amount” and “Shares-holding at period end” should be filled in order according to the (public) Company reinvestment and the reinvestment of investee. The relationship between the (public) Company and investee is required to be indicated in the remarks column (e.g. it is a subsidiary or subordinate).

(2) “The investee income” column should be filled in with profit or loss amount of investee of the period.

(3) “The investee income” column is filled in with the recognized direct invested subsidiaries and investee profit and loss under equity of the Company only. No need to fill in other than these two. The subsidiary profit and loss included re-investment profit and loss to be recognized according to the regulations should be confirmed when filling in the “Recognized direct invested subsidiary profit and loss of the period”. Note 3: The details information of investee in China, please refer to the Attached table 7.

Note 4: Including unrealized gross from intercompany transactions.

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SUN MAX TECH LIMITED and its subsidiaries

The business relationship between the parent company and its subsidiaries and among subsidiaries, and important intercompany transactions and amounts

January 1 to September 30, 2025

Attached table 6

Unit: Unless otherwise stated, NTD Thousand

No. (Note 1)	Trader’s name	Counterparty	Relationship with trader (Note 2)		Transactions	Transactions
				Title	Amount	Terms and conditions	The ratio of consolidated total income or assets (Note 3)
0 1 1 2 2 3 3 4 4 4 4 4	Sun Max Tech Limited POWER LOGIC TECH. INC POWER LOGIC TECH. INC SUNNY SHARP INTERNATIONAL LIMITED TAIWAN BRANCH`（`BVI`）` SUNNY SHARP INTERNATIONAL LIMITED TAIWAN BRANCH`（`BVI`）` DONG GUAN DONG LI DIAN ZI CO. LTD DONG GUAN DONG LI DIAN ZI CO. LTD Taiyi (Jiangxi) Electronic Technology Co., Ltd. Taiyi (Jiangxi) Electronic Technology Co., Ltd. Taiyi (Jiangxi) Electronic Technology Co., Ltd. Taiyi (Jiangxi) Electronic Technology Co., Ltd. Taiyi (Jiangxi) Electronic Technology Co., Ltd.	SUNNY SHARP INTERNATIONAL LIMITED TAIWAN BRANCH`（`BVI`）` Taiyi (Jiangxi) Electronic Technology Co., Ltd. Taiyi (Jiangxi) Electronic Technology Co., Ltd. Taiyi (Jiangxi) Electronic Technology Co., Ltd. Taiyi (Jiangxi) Electronic Technology Co., Ltd. Taiyi (Jiangxi) Electronic Technology Co., Ltd. Taiyi (Jiangxi) Electronic Technology Co., Ltd. DONG GUAN DONG LI DIAN ZI CO. LTD DONG GUAN DONG LI DIAN ZI CO. LTD SUNNY SHARP INTERNATIONAL LIMITED TAIWAN BRANCH`（`BVI`）` SUNNY SHARP INTERNATIONAL LIMITED TAIWAN BRANCH`（`BVI`）` SUNNY SHARP INTERNATIONAL LIMITED TAIWAN BRANCH`（`BVI`）`	1 3 3 3 3 3 3 3 3 3 3 3	Other receivables Sales revenue Accounts receivable Sales revenue Accounts receivable Sales revenue Accounts receivable Sales revenue Accounts receivable Sales revenue Accounts receivable Financial cost	$ 15,223 109,813 22,843 152,571 51,012 235,189 80,438 89,399 27,253 387,268 179,796 35,405	Note 4 Note 4 Note 4 Note 4 Note 4 Note 4 Note 4 Note 4 Note 4 Note 4 Note 4 Note 4	0.44% 8.01% 0.67% 11.13% 1.49% 17.16% 2.34% 6.52% 0.79% 28.26% 5.24% 2.58%

Note 1: The information of business operation between the parent company and its subsidiaries should be documented in the respectively numbered column as follows:

(1) Fill in “0” for parent company.
(2) The subsidiaries are sequentially numbered from 1 and so forth.
Note 2: The relationship with the traders is classified into three categories, which should be specified (the transaction conducted between the parent company and its subsidiaries or between two subsidiaries need not be disclosed in duplication. Such as: if the parent company has the transaction with the subsidiaries disclosed, the subsidiaries need not to have it disclosed in duplication. If one of the two subsidiaries has the transaction disclosed, the other subsidiary needs not to have it disclosed in duplication).
(1) The Parent Company to the Subsidiary.
(2) The Subsidiary to the Parent Company.
(3) The Subsidiary to the Subsidiary.
Note 3: Calculate the ratio of the transaction amount to consolidate the total income or total assets. For the assets and liabilities account, calculate the ratio of the ending balance to the consolidated total assets. For the profits and losses account, calculate the ratio of the interim cumulated amount to the consolidated total income.
Note 4: The transaction term is no apparent difference existed for related and non-related party.
Note 5: The transaction above and over NTD 10 million.
47 -

SUN MAX TECH LIMITED and its subsidiaries

Information regarding investment in the territory of mainland china

January 1 to September 30, 2025

Attached table 7

Unit: Unless otherwise stated, NTD Thousand

Names of investees in China	Principal business	Paid-in shares Capital	Paid-in shares Capital	Mode of investments (Note 1)	Accumulated amount of investment remitted from Taiwan at beginning	Accumulated amount of investment remitted from Taiwan at beginning	Amount of investment remitted or recovered in current period	Amount of investment remitted or recovered in current period	Accumulated amount of investment remitted from Taiwan at ending	Invested company’s profit and loss	Ratio of shareholding of investment directly or indirectly made by the Company	Investment profit/loss recognized in current period (Note 2)	Book value of investment at ending	The investment income received at the end of the current period
							Outward remittance	Recover
DONG GUAN DONG LI DIAN ZI CO. LTD Taiyi (Jiangxi) Electronic Technology Co., Ltd.	Production and sale of cooling fan Production and sale of cooling fan	$ 88,456 ( HKD 21,000 ) 688,394 ( RMB 150,000 )		2 (UNITED STRATEGY INC.) 2 (UNITED STRATEGY INC.)	$	- -	$ - -	$ - -	$ - -	$ 19,209 159,664	100 100	$ 19,209 157,858 (Note 4)	$ 173,826 (Note 4) 1,229,833 (Note 4)	$ - -

Accumulated investment from Taiwan to Mainland China at ending			Amount of investment approved by Investment Commission of MOEA			Compliance with the limit of investment in Mainland China set forth by Investment Commission of MOEA
Not applicable			Not applicable			Not applicable

Note 1: There are three types of investments labeled by the respective number:

(1) Direct investment in China.
(2) Investment in China through the third region (please indicate the invested company in the third region).
(3) Other ways.
Note 2: Recognized as gains or losses on investment in current period:
(1) Please mark out if there has no investment gain or loss yet because the investment is still under planning.
(2) The basis of recognition of investment income is classified into following three types, which should be marked out.
- A. Financial statements audited by international firm cooperated with accounting firm in R.O.C.
- B. Financial statements audited by the CPAs who audit the parent company in Taiwan.
- C. Others.
Note 3: All figures presented in new Taiwan dollars.

Note 4: including the un-realized gross profit from inter-company transaction.

48 -

AI assistant

SUN MAX — Interim / Quarterly Report 2025

52591_rns_2026-04-20_5cb9e429-6240-4a65-8b76-5e9c540969fb.pdf

SUN MAX TECH LIMITED And subsidiaries

Consolidated financial statements and Auditor’s Report Third Quarter, 2025 and 2024

§Table of Contents§

Independent Auditors’ Report

To: SUN MAX TECH LIMITED:

Preface

Conclusion

SUN MAX TECH LIMITED and its subsidiaries

Consolidated Balance Sheets

SUN MAX TECH LIMITED and its subsidiaries

SUN MAX TECH LIMITED and its subsidiaries

(Continued from previous page)

1. Organization and operations

2. Financial reporting date and procedures

3. Application of new and revised standards and interpretation

4. Summary of significant accounting policies

Principle of consolidated financial statements preparation

Income tax

5. Main source of significant accounting judgment, estimates and assumptions uncertainty

6. Cash and cash equivalents

September 30, 2025

December 31, 2024

September 30, 2024

9. Inventories

10. Other assets

11. Subsidiaries

Subsidiaries included in the consolidated financial statements

12. Property, plant, and equipment

13. Lease agreement

(2) Lease liability

(3) Other lease information

14. Intangible assets

15. Borrowings

16. Other payables

17. Corporate bonds payable

(2) Conversion price:

7. Conversion:

(1) Conversion period:

(2) Conversion price:

(3) Conversion price adjustment:

18. Retirement benefits plan

19. Equity

(1) Share Capital

(2) Capital surplus

(4) Other equity

20. Consolidated net income

(1) Interest revenue

(Continued from previous page)

(7) Remuneration to employees, Directors and Supervisors

Estimate on ratio

Amount

Amount

21. Income tax

(1) Income tax recognized in profit or loss

(2) Income tax audit

22. Earnings per share

Net profit of current period

23. Government grant

24. Financial instruments

September 30, 2024

January 1 to September 30, 2024

3. Evaluation techniques and an input value of Level 3 fair value measurement

(2) Categories of financial instruments

1. Market Risk

Sensitivity analysis

(2) Interest rate risk

Sensitivity analysis

2. Credit Risk

3.

Liquidity Risk

September 30, 2025

December 31, 2024

September 30, 2024

(2) Financing facilities

25. Related party transactions

Remunerations to the management

26. Pledged assets

SUN MAX Interim / Quarterly Report 2025