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SYSCOM Interim / Quarterly Report 2025

Dec 22, 2025

52093_rns_2025-12-22_78a6259d-3752-43c0-94e1-efafbab55fce.pdf

Interim / Quarterly Report

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Stock Code: 2453

Syscom Computer Engineering Co. and Subsidiaries

Consolidated Financial Statements for the

Nine Months Ended September 30, 2025 and 2024 and Independent Auditors’ Review Report

Address: 6th Floor, No. 115, Emei Street, Wanhua District, Taipei City TEL: (02)2191-6066

The independent auditors’ review report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and used in the Republic of China.

If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors’ review report and consolidated financial statements, the Chinese version shall prevail.

  • 1 -

§ Table of Contents §

§ Table of Contents §
Item
Page
1. Cover
1
2. Table of Contents
2
3. Independent Auditors’ Review Report
3～4
4. Consolidated Balance Sheets
5
5. Consolidated Statements of Comprehensive Income
6～7
6. Consolidated Statements of Changes in Equity
8
7. Consolidated Statements of Cash Flows
9～10
8. Notes to Consolidated Financial Statements
(1) General
11
(2) The Date and Procedures of Authorization of
Financial Statements
11
(3) Application of New and Revised Standards and
Interpretations
11～12
(4) Summary of Significant Accounting Policies
12～13
(5) Critical Accounting Judgments and Key
Sources of Estimation and Uncertainty
13
(6) Explanation of Significant Accounts
13～33
(7) Related Parties Transactions
33~35
(8) Assets Pledged as Collateral
35
(9) Significant Contingent Liabilities and
Unrecognized Commitments
35
(10) Significant Disaster Loss
-
(11) Other Matters
-
(12) Significant Events after Reporting Period
-
(13) Significant Assets and Liabilities Denominated
in Foreign Currencies
35~36
(14) Separately Disclosed Items
A. Information about significant transactions
36、38～40
B. Information on investees
36、41
C. Information on investment in mainland
China
36～37、42
(15) Segment Information
37		 Notes to Financial
Statements
-
-
-
-
-
-
-
1
2
3
4
5
6-25
26
27
28
-
-
-
29
30
30
30
31
  • 2 -

INDEPENDENT AUDITORS’ REVIEW REPORT

The Board of Directors and Shareholders Syscom Computer Engineering Company

Introduction

We have reviewed the accompanying consolidated balance sheets of Syscom Computer Engineering Company and its subsidiaries (collectively, the “Group”) as of September 30, 2025 and 2024, the related consolidated statements of comprehensive income for the three months ended September 30, 2025 and 2024 and for the nine months ended September 30,2025 and 2024, the consolidated statements of changes in equity and cash flows for the nine months then ended, and the related notes to the consolidated financial statements, including a summary of significant accounting policies. Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, “Interim Financial Reporting,” endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China. Our responsibility is to express a conclusion on the consolidated financial statements based on our reviews.

Scope of Review

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

Basis for Qualified Conclusion

As disclosed in Note 11 to the consolidated financial statements, the financial statements of nonsignificant subsidiaries included in the consolidated financial statements referred to in the first paragraph were not reviewed. As of September 30, 2025 and 2024, combined total assets of these non-significant subsidiaries were NT$348,989 thousand and NT$361,386 thousand, respectively, representing 7% and 8%, respectively, of the consolidated total assets, and combined total liabilities of these subsidiaries were NT$225,186 thousand and NT$226,795 thousand, respectively, representing 8% and 9%, respectively, of the consolidated total liabilities; for the three months ended September 30, 2025 and 2024 and for the nine months ended September 30,2025 and 2024, the amounts of combined total comprehensive loss of these subsidiaries were NT$290 thousand, NT$12,193 thousand, NT$29,073 thousand and NT$38,690 thousand, respectively, representing (0.4%), (18%), (14%) and (18%), respectively, of the consolidated total comprehensive income. As disclosed in Note 12 to the consolidated financial statements, as of September 30, 2025 and 2024, investments accounted for using the equity method were NT$69,123 thousand and NT$69,926 thousand, respectively, and for the three months ended September 30, 2025 and 2024 and for the nine months ended September 30, 2025 and 2024, the comprehensive income(loss) of these equity-method investments were NT$417 thousand, NT$1,357 thousand, NT$(1,567) thousand and NT$1,743 thousand, respectively, which were calculated on the basis of financial statements that have not been reviewed. In addition, the information related to the subsidiaries and investee companies mentioned in Note 30 have also not been reviewed.

  • 3 -

Qualified Conclusion

Based on our reviews, except for the adjustments, if any, as might have been determined to be necessary had the financial statements of the non-significant subsidiaries, the investments accounted for using the equity method as described in the preceding paragraph been reviewed, nothing has come to our attention that caused us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of the Group as of September 30, 2025 and 2024, its consolidated financial performance for the three months ended September 30, 2025 and 2024, and of its consolidated financial performance and its consolidated cash flows for the nine months ended September 30, 2025 and 2024 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34 “Interim Financial Reporting” endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China.

The engagement partners on the reviews resulting in this independent auditors’ review report are Pei-De Chen and Liu, Wen-Ling.

Deloitte & Touche Taipei, Taiwan Republic of China

November 11, 2025

Notice to Readers

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

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

  • 4 -

SYSCOM COMPUTER ENGINEERING CO. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

SEPTEMBER 30, 2025, DECEMBER 31, 2024 AND SEPTEMBER 30, 2024

Code

1100
1110
1136
1140
1150
1172
1200
1220
130X
1410
1479
11XX

1517
1535
1550
1600
1755
1821
1840
1990
15XX
1XXX

Code

2100
2110
2130
2150
2170
2200
2230
2280
2399
21XX

2572
2580
2640
2645
25XX
2XXX

3110
3200
3310
3320
3350
3300
3400
31XX
36XX

3XXX
 ASSETS
CURRENT ASSETS
Cash and cash equivalents (Note 6)
Financial assets at fair value through profit or loss - current
Financial assets at amortized cost - current (Notes 8 and 27)
Contract assets - current (Note 20)
Notes receivable
Accounts receivable (Notes 9 and 26)
Other receivables
Current tax assets
Inventories (Note 10)
Prepayments
Other current assets
Total current assets
NON-CURRENT ASSETS
Financial assets at fair value through other comprehensive
income - non-current (Note 7)
Financial assets at amortized cost - non-current (Notes 8
and 27)
Investments accounted for using the equity method
(Note12)
Property, plant and equipment (Notes 13 and 26)
Right-of-use assets (Note 14 )
Intangible assets (Note 15)
Deferred tax assets
Other non-current assets
Total non-current assets
TOTAL
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Short-term borrowings (Notes 16 and 27)
Short-term bills payable (Note 16)
Contract liabilities - current (Note 20)
Notes payable
Accounts payable (Note 26)
Other payables (Note 17)
Current tax liabilities
Lease liabilities - current (Notes 14 and 26)
Other current liabilities
Total current liabilities
NON-CURRENT LIABILITIES
Deferred tax liabilities
Lease liabilities - non-current (Notes 14 and 26)
Net defined benefits liabilities - non-current (Note 4)
Guarantee deposits received
Total non-current liabilities
Total liabilities
EQUITY ATTRIBUTABLE TO OWNERS OF THE
COMPANY (Note 19)
Share capital - ordinary shares
Capital surplus
Retained earnings
Legal reserve
Special reserve
Unappropriated earnings
Total retained earnings
Other equity
Total equity of the owners of the Company
Non-controlling interests (Note 19)
Total equity
TOTAL		 September 30,2025
Amount
％
$ 603,040
12
269
-
221,127
5
921,897
19
39,056
1
1,049,151
21
2,955
-
1,009
-
614,943
13
588,073
12
123,184

2
4,164,704
85
46,159
1
155,283
3
69,123
2
349,351
7
25,366
1
6,207
-
12,709
-
68,049

1
732,247
15
$ 4,896,951
100
$ 863,064
18
-
-
442,646
9
546
-
1,029,055
21
290,611
6
3,582
-
17,433
-
27,201

-
2,674,138
54
10,092
-
8,078
-
51,007
1
15,462

1
84,639

2
2,758,777
56
1,000,000
20
1,959

-
386,109
8
17,619
1
697,230
14
1,100,958
23
25,472

1
2,128,389
44
9,785

-
2,138,174
44
$ 4,896,951
100		 (In Thousands of New Taiwan Dollars)
December 31,2024
September 30,2024
Amount
％
Amount
％
$ 733,387
15
$ 706,463
15
463
-
462
-
250,277
5
252,021
5
858,494
18
999,296
21
2,866
-
13,869
-
1,157,180
24
824,698
17
8,403
-
18,226
1
493
-
801
-
457,662
9
631,728
13
479,218
10
368,907
8
85,124

2

112,114

2
4,033,567
83
3,928,585
82
49,063
1
44,880
1
211,034
4
197,016
4
70,937
2
69,926
1
366,735
8
362,628
8
59,139
1
71,312
2
2,531
-
2,727
-
16,090
-
9,838
-
70,434

1

75,195

2
845,963
17

833,442
18
$ 4,879,530
100
$ 4,762,027
100
$ 176,651
4
$ 544,643
11
-
-
49,924
1
611,197
12
499,878
10
150
-
544
-
1,248,869
26
1,119,964
24
468,442
10
279,673
6
27,405
-
8,495
-
47,738
1
48,461
1
17,762

-

26,865

1
2,598,214
53
2,578,447
54
10,535
-
10,309
-
12,247
-
23,863
1
56,406
1
28,529
1
17,877

1

17,669

-
97,065

2

80,370

2
2,695,279
55
2,658,817
56
1,000,000
21
1,000,000
21
1,783

-

1,797

-
358,096
7
358,096
8
17,619
-
17,619
-
765,101
16

690,008
14
1,140,816
23
1,065,723
22
30,144

1

23,918

1
2,172,743
45
2,091,438
44
11,508

-

11,772

-
2,184,251
45
2,103,210
44
$ 4,879,530
100
$ 4,762,027
100		 (In Thousands of New Taiwan Dollars)
December 31,2024
September 30,2024
Amount
％
Amount
％
$ 733,387
15
$ 706,463
15
463
-
462
-
250,277
5
252,021
5
858,494
18
999,296
21
2,866
-
13,869
-
1,157,180
24
824,698
17
8,403
-
18,226
1
493
-
801
-
457,662
9
631,728
13
479,218
10
368,907
8
85,124

2

112,114

2
4,033,567
83
3,928,585
82
49,063
1
44,880
1
211,034
4
197,016
4
70,937
2
69,926
1
366,735
8
362,628
8
59,139
1
71,312
2
2,531
-
2,727
-
16,090
-
9,838
-
70,434

1

75,195

2
845,963
17

833,442
18
$ 4,879,530
100
$ 4,762,027
100
$ 176,651
4
$ 544,643
11
-
-
49,924
1
611,197
12
499,878
10
150
-
544
-
1,248,869
26
1,119,964
24
468,442
10
279,673
6
27,405
-
8,495
-
47,738
1
48,461
1
17,762

-

26,865

1
2,598,214
53
2,578,447
54
10,535
-
10,309
-
12,247
-
23,863
1
56,406
1
28,529
1
17,877

1

17,669

-
97,065

2

80,370

2
2,695,279
55
2,658,817
56
1,000,000
21
1,000,000
21
1,783

-

1,797

-
358,096
7
358,096
8
17,619
-
17,619
-
765,101
16

690,008
14
1,140,816
23
1,065,723
22
30,144

1

23,918

1
2,172,743
45
2,091,438
44
11,508

-

11,772

-
2,184,251
45
2,103,210
44
$ 4,879,530
100
$ 4,762,027
100		 (In Thousands of New Taiwan Dollars)
December 31,2024
September 30,2024
Amount
％
Amount
％
$ 733,387
15
$ 706,463
15
463
-
462
-
250,277
5
252,021
5
858,494
18
999,296
21
2,866
-
13,869
-
1,157,180
24
824,698
17
8,403
-
18,226
1
493
-
801
-
457,662
9
631,728
13
479,218
10
368,907
8
85,124

2

112,114

2
4,033,567
83
3,928,585
82
49,063
1
44,880
1
211,034
4
197,016
4
70,937
2
69,926
1
366,735
8
362,628
8
59,139
1
71,312
2
2,531
-
2,727
-
16,090
-
9,838
-
70,434

1

75,195

2
845,963
17

833,442
18
$ 4,879,530
100
$ 4,762,027
100
$ 176,651
4
$ 544,643
11
-
-
49,924
1
611,197
12
499,878
10
150
-
544
-
1,248,869
26
1,119,964
24
468,442
10
279,673
6
27,405
-
8,495
-
47,738
1
48,461
1
17,762

-

26,865

1
2,598,214
53
2,578,447
54
10,535
-
10,309
-
12,247
-
23,863
1
56,406
1
28,529
1
17,877

1

17,669

-
97,065

2

80,370

2
2,695,279
55
2,658,817
56
1,000,000
21
1,000,000
21
1,783

-

1,797

-
358,096
7
358,096
8
17,619
-
17,619
-
765,101
16

690,008
14
1,140,816
23
1,065,723
22
30,144

1

23,918

1
2,172,743
45
2,091,438
44
11,508

-

11,772

-
2,184,251
45
2,103,210
44
$ 4,879,530
100
$ 4,762,027
100		 (In Thousands of New Taiwan Dollars)
December 31,2024
September 30,2024
Amount
％
Amount
％
$ 733,387
15
$ 706,463
15
463
-
462
-
250,277
5
252,021
5
858,494
18
999,296
21
2,866
-
13,869
-
1,157,180
24
824,698
17
8,403
-
18,226
1
493
-
801
-
457,662
9
631,728
13
479,218
10
368,907
8
85,124

2

112,114

2
4,033,567
83
3,928,585
82
49,063
1
44,880
1
211,034
4
197,016
4
70,937
2
69,926
1
366,735
8
362,628
8
59,139
1
71,312
2
2,531
-
2,727
-
16,090
-
9,838
-
70,434

1

75,195

2
845,963
17

833,442
18
$ 4,879,530
100
$ 4,762,027
100
$ 176,651
4
$ 544,643
11
-
-
49,924
1
611,197
12
499,878
10
150
-
544
-
1,248,869
26
1,119,964
24
468,442
10
279,673
6
27,405
-
8,495
-
47,738
1
48,461
1
17,762

-

26,865

1
2,598,214
53
2,578,447
54
10,535
-
10,309
-
12,247
-
23,863
1
56,406
1
28,529
1
17,877

1

17,669

-
97,065

2

80,370

2
2,695,279
55
2,658,817
56
1,000,000
21
1,000,000
21
1,783

-

1,797

-
358,096
7
358,096
8
17,619
-
17,619
-
765,101
16

690,008
14
1,140,816
23
1,065,723
22
30,144

1

23,918

1
2,172,743
45
2,091,438
44
11,508

-

11,772

-
2,184,251
45
2,103,210
44
$ 4,879,530
100
$ 4,762,027
100
Amount
$ 603,040

269
221,127
921,897

39,056
1,049,151

2,955
1,009
614,943

588,073

123,184

4,164,704

46,159
155,283
69,123
349,351
25,366
6,207
12,709
68,049

732,247

$ 4,896,951

$ 863,064

-
442,646
546
1,029,055

290,611
3,582
17,433
27,201

2,674,138

10,092
8,078
51,007
15,462

84,639

2,758,777

1,000,000

1,959

386,109
17,619
697,230

1,100,958

25,472

2,128,389

9,785

2,138,174

$ 4,896,951
 Amount
$ 733,387

463
250,277
858,494

2,866
1,157,180

8,403
493
457,662
479,218

85,124

4,033,567

49,063
211,034
70,937
366,735
59,139
2,531
16,090
70,434

845,963

$ 4,879,530

$ 176,651
-
611,197

150
1,248,869

468,442

27,405
47,738
17,762

2,598,214

10,535
12,247
56,406
17,877

97,065

2,695,279

1,000,000

1,783

358,096
17,619
765,101

1,140,816

30,144

2,172,743

11,508

2,184,251

$ 4,879,530
 Amount
$ 706,463

462
252,021
999,296

13,869
824,698

18,226
801
631,728

368,907
112,114

3,928,585

44,880
197,016
69,926
362,628
71,312
2,727
9,838
75,195

833,442

$ 4,762,027

$ 544,643

49,924
499,878

544
1,119,964

279,673
8,495
48,461
26,865

2,578,447

10,309
23,863
28,529
17,669

80,370

2,658,817

1,000,000

1,797

358,096
17,619
690,008

1,065,723

23,918

2,091,438

11,772

2,103,210

$ 4,762,027
 ％



































































15
-
5
21
-
17
1
-
13
8

2
82
1
4
1
8
2
-
-

2
18
100
11
1
10
-
24
6
-
1

1
54
-
1
1

-

2
56
21

-
8
-
14
22

1
44

-
44
100

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

(With Deloitte & Touche auditors’ review report dated November 11, 2025)

  • 5 -

SYSCOM COMPUTER ENGINEERING CO. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In Thousands of New Taiwan Dollars, Except Earnings Per Share)

Code
OPERATING REVENUE
(Notes 20 and 26)
4100
Sales

4600
Maintenance revenue
4300
Rental revenue

4000
Total operating revenue


OPERATING COSTS (Notes
10, 18, 21, and 26)
5110
Cost of goods sold

5600
Maintenance costs
5300
Rental costs

5000
Total operating costs


5900GROSS PROFIT


OPERATING EXPENSES
(Notes 9, 18, 21, and 26)
6100
Selling and marketing
expenses
6300
Research and development
expenses
6450
Expected credit loss
(reversal of credit loss)on
trade receivables
6000
Total operating expenses


6900PROFIT FROM OPERATIONS

NON-OPERATING INCOME
AND EXPENSES
7100
Interest income (Note 21)
7010
Other income (Notes 21 and
26)
7020
Other gains and losses (Note
21)
7050
Finance costs (Notes 21 and
26)
7060
Share of profit or loss of
associates and joint
ventures (Note 12)
7000
Total non-operating
income and expenses

7900PROFIT BEFORE INCOME
TAX

7950INCOME TAX EXPENSE
(Notes 4 and 22)

8200NET PROFIT

 For the Three Months For the Three Months Ended September 30
2024
Amount
％
$ 1,310,205
77

398,485
23


4,245

-

1,712,935
100

1,007,692
59

268,011
16

3,443

-

1,279,146
75


433,789
25

318,991
19
59,936
3
(
45)

-


378,882
22


54,907

3

2,906
-
13,908
1
1,309
-
(
4,287 )
-


1,142

-


14,978

1

69,885
4

3,722

-


66,163

4
 Ended September 30
2024
Amount
％
$ 1,310,205
77

398,485
23


4,245

-

1,712,935
100

1,007,692
59

268,011
16

3,443

-

1,279,146
75


433,789
25

318,991
19
59,936
3
(
45)

-


378,882
22


54,907

3

2,906
-
13,908
1
1,309
-
(
4,287 )
-


1,142

-


14,978

1

69,885
4

3,722

-


66,163

4
 For the Nine Months For the Nine Months Ended September 30 Ended September 30 Ended September 30
2025 ％
73

27

-

100

56

18

-

74

26

20
3

-

23


3

-
1
-

-


-


1

4

-


4
 2024 2025 ％
74

26


-

100

57

17

-

74

26

18
3

-

21


5

-
-
-

-


-


-

5

1


4
 2024
％
  • 6 -
Code
OTHER COMPREHENSIVE
INCOME
8310
Items that will not be
reclassified subsequently
to profit or loss:
8316
Unrealized (loss) gain
on investments in
equity instruments at
fair value through
other comprehensive
income(Note 19)
8360
Items that may be
reclassified subsequently
to profit or loss:
8361
Exchange differences on
translating the
financial statements
of foreign
operations(Note 19)
8370
Share of the other
comprehensive
income of associates
and joint ventures
accounted for using
the equity
method(Note 19)


8300
Total other
comprehensive
income, net of income
tax

8500TOTAL COMPREHENSIVE
INCOME

NET INCOME
ATTRIBUTABLE TO:
8610
Owners of the Company

8620
Non-controlling interests

8600


TOTAL COMPREHENSIVE
INCOME (LOSS)
ATTRIBUTABLE TO:
8710
Owners of the Company

8720
Non-controlling interests

8700


EARNINGS PER SHARE (Note
23)
9710
Basic

9810
Diluted
 For the Three Months For the Three Months Ended September 30
2024
Amount
％
$ 2,603
-

(
376 )
-


215

-

(
161)

-


2,442

-

$ 68,605

4

$ 66,170
4

(
7)

-

$ 66,163

4

$ 68,618
4

(
13)

-

$ 68,605

4

$ 0.66

$ 0.66
 For the Nine Months For the Nine Months Ended September 30 Ended September 30 Ended September 30
2025 ％

-


-


-


-


-


4

4


-


4

4


-


4


 2024 2025 ％

-


-

-


-


-


4

4


-


4

4


-


4


 2024
Amount
( $ 1,681 )
(
441 )

25

(
416)

(
2,097)

$ 69,187

$ 71,556
(
272)

$ 71,284

$ 69,264
(
77)

$ 69,187

$ 0.72
$ 0.71		 Amount
$ 2,603
(
376 )

215

(
161)


2,442

$ 68,605

$ 66,170
(
7)

$ 66,163

$ 68,618
(
13)

$ 68,605

$ 0.66
$ 0.66		 Amount
( $ 2,642 )
(
2,131 )
(
41)

(
2,172)

(
4,814)

$ 214,374

$ 219,985
(
797)

$ 219,188

$ 215,470
(
1,096)

$ 214,374

$ 2.20
$ 2.20		 Amount
$ 11,774
610
51

661

12,435

$ 219,662

$ 208,772

1,545)

$ 207,227

$ 220,962

1,300)

$ 219,662

$ 2.09
$ 2.08		 ％






(


(


 -
-

-

-

-

5
5

-

5
5

-

5

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

(With Deloitte & Touche auditors’ review report dated November 11, 2025)

(Concluded)

  • 7 -

SYSCOM COMPUTER ENGINEERING CO. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

FOR THE NINE MONTHS ENDED SEPTEMBER 30,2025 AND 2024

C o d e
A1
BALANCE AT JANUARY 1, 2024

Appropriation of the 2023 earnings
B1
Legal reserve
B5
Cash dividends - NT$2.4 per share
D1
Net profit for the nine months ended September
30, 2024
D3
Other comprehensive income (loss) for the nine
months ended September 30, 2024, net of
income tax
D5
Total comprehensive income (loss) for the nine
months ended September 30, 2024
M7
Changes in ownership interests in subsidiaries
O1
Cash dividends from subsidiary

Z1
BALANCE AT SEPTEMBER 30, 2024

A1
BALANCE AT JANUARY 1, 2025

Appropriation of the 2024 earnings
B1
Legal reserve
B5
Cash dividends - NT$2.6 per share
D1
Net profit for the nine months ended September
30, 2025
D3
Other comprehensive income (loss) for the nine
months ended September 30, 2025, net of
income tax
D5
Total comprehensive income (loss) for the nine
months ended September 30, 2025
C3
Unclaimed dividends
M5
Actual acquisition and disposition of interests in
subsidiaries
O1
Cash dividends from subsidiary
Q1
Disposal of equity investments measured at fair
value through other comprehensive income
Z1
BALANCE AT SEPTEMBER 30, 2025
 Equity attributable to o wners ofthe Company
Share capital -
ordinary shares
$ 1,000,000

-
-
-

-


-

-

-

$ 1,000,000

$ 1,000,000

-
-
-

-


-

-
-
-

-

$ 1,000,000
 Capitalsurplus
Legal reserve
$ 1,797
$ 330,483

-
27,613
-
-
-
-

-

-


-

-

-
-

-

-

$ 1,797
$ 358,096

$ 1,783
$ 358,096

-
28,013
-
-
-
-

-

-


-

-

52
-
124
-
-
-

-

-

$ 1,959
$ 386,109

The accompanying notes are		 Retained earnings


















(With Deloitte & Touche auditors’ review report dated November 11, 2025)

  • 8 -

SYSCOM COMPUTER ENGINEERING CO. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE NINE MONTHS ENDED SEPTEMBER 30,2025 AND 2024

(In Thousands of New Taiwan Dollars)


Code
CASH FLOWS FROM OPERATING
ACTIVITIES
A10000
Income before income tax

A20010
Adjustments for:

A20100
Depreciation expenses

A20200
Amortization expenses

A20300
Expected credit loss (reversal of credit loss)
A20400
Net gain on financial assets at fair value
through profit or loss
A20900
Finance costs

A21200
Interest income

A21300
Dividend income

A22300
Share of profit or loss of associates and joint
ventures accounted for using the equity
method
A22500
Loss (gain) on disposal of property, plant and
equipment
A23800
Write-downs of inventories (reversal of
write-downs of inventories)
A24100
Net gain on foreign currency exchange

A30000
Changes in operating assets and liabilities

A31125
Contract assets

A31130
Notes receivable

A31150
Accounts receivable

A31180
Other receivables

A31200
Inventories

A31230
Prepayments

A31240
Other current assets

A32125
Contract liabilities

A32130
Notes payable

A32150
Accounts payable

A32180
Other payables

A32230
Other current liabilities

A32240
Net defined benefits liabilities

A33000
Cash (used in) generated from operations

A33100
Interest received

A33200
Dividends received

A33300
Interest paid

A33500
Income tax paid

AAAA
Net cash used in from operating activities
 For the Nine Months Ended September 30 For the Nine Months Ended September 30 For the Nine Months Ended September 30 For the Nine Months Ended September 30
2025
$ 262,817
85,932
4,065
33

10 )
11,607

10,621 )

983 )
1,526

283 )

3,714 )

2,229 )

63,403 )

36,190 )
103,618
5,330

154,658 )

108,855 )

15,412 )

168,551 )
396

215,645 )

178,244 )
9,439

5,399)

479,434 )
10,654
983

10,514 )

64,880)

543,191)		 2024

(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(
(		 $ 253,062
85,424
900

32 )

1,485 )
12,182

9,227 )

645 )

1,692 )
286
2,411

3,566 )

515,974 )

1,807 )
606,195

11,888 )

161,394 )
45,990

15,413 )
34,548
413

334,082 )

138,728 )
8,800

13,418)

159,140 )
9,251
645

12,222 )

55,654)

217,120)

(Continued)

  • 9 -

Code
CASH FLOWS FROM INVESTING
ACTIVITIES
B00050
Proceeds (acquisition) from sale of financial
assets at amortized cost
B00200
Proceeds from sale of financial assets at fair value
through profit or loss
B02700
Payments for property, plant and equipment
B02800
Proceeds from disposal of property, plant and
equipment
B03700
Increase in refundable deposits
B04500
Payments for intangible assets
B06100
Decrease (increase) in lease receivables
BBBB
Net cash generated (used in) from investing
activities
CASH FLOWS FROM FINANCING
ACTIVITIES
C00100
Increase in short-term borrowings
C00500
Proceeds from short-term bills payable
C03100
Decrease (increase) in guarantee deposits received
C04020
Repayment of the principal portion of lease
liabilities
C04500
Dividends paid
C05400
Acquisition of interests in subsidiaries
C05500
Partial disposal of interests in subsidiary without a
loss of control
C05800
Change in non-controlling interests
C09900
Unclaimed dividends
CCCC
Net cash generated from financing activities
DDDD
EFFECTS OF EXCHANGE RATE CHANGES ON THE
BALANCE OF CASH AND CASH EQUIVALENTS
HELD IN FOREIGN CURRENCIES
EEEE
NET DECREASE IN CASH AND CASH
EQUIVALENTS
E00100
CASH AND CASH EQUIVALENTS AT THE
BEGINNING OF THE PERIOD
E00200
CASH AND CASH EQUIVALENTS AT THE END OF
THE PERIOD		 For the Nine Months Ended September 30 For the Nine Months Ended September 30 For the Nine Months Ended September 30 For the Nine Months Ended September 30
2025
$ 84,901
466

32,959 )
748

21,254 )

7,763 )
991
25,130
699,105
-

2,415 )

37,213 )

260,000 )

500 )
11

14 )
52
399,026

11,312)

130,347 )
733,387
$ 603,040		 2024

(
(
(



(
(
(
(
(



(
(

 (
(
(
(
(
(
(
(



(

 $ 35,557 )
11,480

48,084 )
567

21,843 )

1,234 )

1,704)

96,375)
347,948
49,874
2,898

36,271 )

240,000 )
-
-
6,244
-
130,693
4,771

178,031 )
884,494
$ 706,463

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

(With Deloitte & Touche auditors’ review report dated November 11, 2025)

(Concluded)

  • 10 -

SYSCOM COMPUTER ENGINEERING CO. AND SUBSIDIARIES Notes to Consolidated Financial Statements

For the Nine Months Ended September 30, 2025 and 2024

(Amounts in thousands of NTD, unless otherwise indicated)

1. General

SYSCOM COMPUTER ENGINEERING CO. (hereinafter referred to as "the Company") was incorporated in July 1975. The Company mainly leases and sells computer systems and designs computer software. It also provides services for the integration of computer information systems and maintenances of computer hardware. The Company's shares have been listed on the Taiwan Stock Exchange since May 22, 2001.

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

The Company and its subsidiaries are hereinafter collectively referred to as the "The Group ".

  1. The Date and Procedures of Authorization of Financial Statements The consolidated financial statements were approved by the Board of Directors on November 11, 2025.

  2. Application of New and Revised Standards and Interpretations

  3. (1) Initial application of the amendments to the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), IFRIC Interpretations (IFRIC), and SIC Interpretations (SIC) (collectively, the “IFRS Accounting Standards”) endorsed and issued into effect by the Financial Supervisory Commission (FSC).

The Group has assessed that the application of the revised IFRS Accounting Standards endorsed and issued into effect by the FSC did not have material impact on the Group’s accounting policies.

  • (2) The IFRS Accounting Standards endorsed by the FSC for application starting from 2026

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

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

  • (3) IFRSs issued by the IASB but not yet endorsed and issued into effect by the FSC

Effective Date Announced by New/ Revised /Amended Standards and Interpretations the IASB (Note1) Amendments to IFRS 10 and IAS 28 “Sale or Contribution To be determined by IASB of Assets between an Investor and its Associate or Joint Venture” IFRS 18 “Presentation and Disclosure in Financial January 1, 2027(Note2) Statements” IFRS 19 “Subsidiaries without Public Accountability: January 1, 2027 Disclosures” (including the 2025 amendments to IFRS 19)

-11-

  • Note 1: Unless stated otherwise, the above IFRS Accounting Standards are effective for annual reporting periods beginning on or after their respective effective dates.

  • Note 2: On September 25, 2025, the FSC announced that IFRS 18 will take effect starting from January 1, 2028. Domestic entities could elect to apply IFRS 18 for an earlier period after the endorsement of IFRS 18 by the FSC.

IFRS 18 “Presentation and Disclosures in Financial Statements”

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

  • Items of income and expenses included in the statement of profit or loss shall be classified into the operating, investing, financing, income taxes and discounted operations categories.

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

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

  • Disclosures on Management-defined Performance Measures (MPMs): When in public communications outside financial statements and communicating to users of financial statements management’s view of an aspect of the financial performance of the Group as a whole, the Group shall disclose related information about its MPMs in a single note to the financial statements, including the description of such measures, calculations, reconciliations to the subtotal or total specified by IFRS Accounting Standards and the income tax and non-controlling interests effects of related reconciliation items.

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

4. Summary of Significant Accounting Policies (1) Statement of Compliance

These interim consolidated financial statements have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and IAS 34 “Interim Financial Reporting” endorsed and issued into effect by the FSC. The consolidated financial statements do not present all the disclosures required for a complete set of annual consolidated financial statements prepared under the IFRSs endorsed and issued into effect by the FSC.

(2) Basis of Preparation

The consolidated financial statements were prepared on the historical cost basis, except for financial instruments measured at fair value and net defined benefit liabilities recognized at the present value of the defined benefit obligation less the fair value of plan assets. The evaluation of fair value could be classified into Level 1 to Level 3 by the observable intensity and importance of the related input value:

  • A. Level 1 input value: refers to the quotation of the same asset or liability in an active market as of the evaluation (before adjustment).

  • B. 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.

  • C. Level 3 input value: the unobservable input value of asset or liability.

(3) Basis of Consolidation

The consolidated financial statements include the financial statements of the Company and entities controlled by the Company (subsidiaries). The subsidiaries’ financial statements have been properly adjusted to make the accounting policies consistent with the accounting policies of the Group. In preparing the consolidated financial statements, all intra-group

-12-

transactions, account balances, gains and losses have been eliminated. The total comprehensive income of the subsidiaries is attributable to the shareholders and noncontrolling interests of the Company, even if this results in a loss balance for the noncontrolling interests.

When a change in the Group 's ownership interest in a subsidiary does not result in a loss of control, it is treated as an equity transaction. The carrying amounts of the Group and noncontrolling interests have been adjusted to reflect the changes in their relative interests in subsidiaries. The difference between the adjustment of the non-controlling interests and the fair value of the consideration paid or received is recognized directly in equity attributable to shareholders of the Company.

Please refer to Note 11 and Tables 4 and 5 for details of subsidiaries, shareholding percentage and principal businesses.

  • (4) Other significant accounting policies

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

  • A. Defined benefits of retirement

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

  • B. Income tax expense

    • Income tax expense represents the sum of the tax currently payable and deferred tax. The interim period income tax expense is accrued using the tax rate that would be applicable to expected total annual earnings, that is, the estimated average annual effective income tax rate applied to the pre-tax income of the interim period.

  • Critical Accounting Judgments and Key Sources of Estimation and Uncertainty

In the application of the Group’s accounting policies, the management is required to make judgments, estimates and assumptions which are based on historical experience and other factors that are not readily apparent from other sources. Actual results may differ from these estimates. The consolidated financial statements for critical accounting judgments and key sources of estimation uncertainty are consistent with the consolidated financial statements for the year ended December 31, 2024.

6. Cash and cash equivalents

Cash and cash equivalents
Cash on hand

Checking accounts and demand
deposits

Cash equivalents (investments
with original maturities of
less than 3 months)

Time deposits

Repurchase agreements

 September 30,
2025
$ 741
480,502
94,905

26,892
$ 603,040		 December 31,
2024
$ 1,003
466,339
99,315

166,730
$ 733,387		 September 30,
2024






$ 870
607,922
78,918
18,753
$ 706,463

-13-

7. Financial assets at fair value through other comprehensive income

Investments in equity
instruments-non-current
Domestic investments
Listed shares
Unlisted shares		 September 30,
2025
$ 44,564

1,595
$ 46,159		 December 31,
2024
$ 47,468

1,595
$ 49,063		 September 30,
2024		 September 30,
2024






$ 43,205
1,595
$ 44,800

These investments in equity instruments are not held for trading. Instead, they are held for medium to long-term strategic purposes. Accordingly, the management elected to designate these investments in equity instruments as at FVTOCI as they believe that recognizing short-term fluctuations in these investments’ fair value in profit or loss would not be consistent with the Group’s strategy of holding these investments for long-term purposes.

8. Financial assets at amortized cost

Financial assets at amortized cost
Pledged time deposits

Time deposits with original
maturities of more than 3
months


Current

Non-current

Total
 September 30,
2025
$ 281,049

95,361
$ 376,410
$ 221,127

155,283
$ 376,410		 December 31,
2024
$ 349,765

111,546
$ 461,311
$ 250,277

211,034
$ 461,311		 September 30,
2024















$ 361,141
87,896
$ 449,037
$ 252,021
197,016
$ 449,037

Refer to Note 27 for information relating to financial assets at amortized cost pledged as security.

Based on the Group’s assessment, the credit risk of the above-mentioned financial assets at amortized cost is not expected to be high and has not increased since initial recognition. The Group does not expect to recognize any credit loss resulting from default events on financial assets at amortized cost that are possible within 12 months after the reporting date. Accordingly, no impairment loss was recognized as of September 30, 2025, December 31, 2024 and September 30, 2024.

9. Accounts receivable

Accounts receivable
At amortized cost

Accounts receivable

Less:Allowance for impairment
loss
 September 30,
2025

$ 1,058,596

9,445)
$ 1,049,151
 December 31,
2024

$ 1,166,602

9,422)
$ 1,157,180
 September 30,
2024


(

(

(
 $ 832,914
8,216)
$ 824,698

The average credit period of sales of goods was 30 to 120 days. No interest was charged on accounts receivable.

In order to minimize credit risk, the management of the Group has delegated a team responsible for determining credit limits, credit approvals and other monitoring procedures to ensure that follow-up action is taken to recover overdue debts. In addition, the Group reviews the recoverable amount of each individual trade debt at the end of the reporting period to ensure

-14-

that adequate allowance is made for possible irrecoverable amounts. In this regard, the management believes the Group’s credit risk was significantly reduced.

The Group measures the loss allowance for all accounts receivables at an amount equal to lifetime ECLs. The expected credit losses on accounts receivable are estimated by reference to past default experience of the debtor, an analysis of the debtor’s current financial position, past experience with collecting payments, observable changes in national or local economic conditions that correlate with defaults on receivables, as well as indicators of the industry in which the debtors operate.

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

Considering the above conditions, the Groupe assesses the credit risk of individual customers based on the aging schedule of accounts receivable (based on invoice date). The following table details the loss allowance of accounts receivable. September 30, 2025

September 30, 2025
Gross carrying amount

Loss allowance (Lifetime
ECL)

Amortized cost

December 31, 2024
Gross carrying amount

Loss allowance (Lifetime
ECL)

Amortized cost

September 30, 2024
Gross carrying amount

Loss allowance (Lifetime
ECL)

Amortized cost
 Less than
60 Days		 61 to 90
Days		 91 to120
Days		 Over 121
Days		 Total


$ 885,559
-

$ 885,559

Less than
60 Days

$ 42,418
-

$ 42,418

61 to 90
Days
(
 $ 58,932

224)

$ 58,708

91 to120
Days
(
 $ 71,687

9,221)

$ 62,466

Over 121
Days
(
 $ 1,058,596

9,445)
$ 1,049,151
Total


$ 1,034,542
-

$ 1,034,542

Less than
60 Days

$ 55,815
-

$ 55,815

61 to 90
Days

$ 19,452
-

$ 19,452

91 to120
Days
(
 $ 56,793

9,422)

$ 47,371

Over 121
Days
(
 $ 1,166,602

9,422)
$ 1,157,180
Total


$ 722,325
-

$ 722,325

$ 52,706
-

$ 52,706

$ 7,212
-

$ 7,212
(
 $ 50,671

8,216)

$ 42,455
(
 $ 832,914

8,216)
$ 824,698

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

The movements of the loss allowance of accounts receivable were as follows: accounts receivable were as follows: accounts receivable were as follows: accounts receivable were as follows:
Balance at January 1
Impairment (Reversal) of loss
allowance
Foreign exchange gains and losses
Balance at September 30		 For the Nine Months Ended September 30
2025
$ 9,422
33
10)
$ 9,445		 2024

(
(

 $ 8,243

32 )
5
$ 8,216
10. Inventories
Commodities
Prepayments for contracts
Inventories in transit
Maintenance materials
Total		 September 30,
2025		 September 30,
2025		 December 31,
2024
$ 255,721
195,488
5,228

1,225
$ 457,662		 September 30,
2024		 September 30,
2024


$ 375,158
186,399
52,642
744
$ 614,943

$ 267,232
275,634
88,134
728
$ 631,728

-15-

The commodities mainly consisted of computer hardware and software. Prepayment for contracts are the cost incurred to date related to computer hardware, software and labor.

The cost of inventories recognized as cost of goods sold for the three months and nine months ended September 30, 2025 and 2024 were $1,035,633 thousand, $1,007,692 thousand, $2,864,697 thousand and $2,651,703 thousand respectively. The cost of goods sold related to the inventories which included the write-down of inventories (reversal of write-down of inventories), totaling $0 thousand, $2,378 thousand, ($3,714) thousand and $2,411 thousand, respectively. The reversals of previous write-downs resulted from the sale of these inventories.

11. Subsidiaries

  • (1) Subsidiaries included in the consolidated financial statements The consolidated entities were as follows:
Investor
The Company






Coach Technology
Management Inc.

Casemaker Inc. and
SYSCOM INTERNA-
TIONAL INC.

 Investee
Casemaker Inc.

SYSCOM
INTERNATIONAL
INC. (SYSCOM)

Coach Technology
Management Inc.

Syscom Computer
(Thailand)Co., Ltd.

Syscom Information
Engineering Co.

Netmaker Technology
Co., Ltd.

Syscom Computer
(Thailand)Co., Ltd.

Syscom Computer
(Shenzhen)Co., Ltd.

Xian Linan Computer Co.,
Ltd. (Xian Linan)
 Nature of
Activities
Sales of computer software,
hardware and related products.

Investments in other businesses

Diagnostic consulting for corporate
management, domestic and
foreign investment referral, and
computerized design consulting
Development and maintenance of
software and other businesses
Sales of computer software,
hardware and related products.
Information software, data
processing and electronic
information supply services
Development and maintenance of
software and other businesses
Computer equipment software
development, sales of
selfdeveloped technical
achievements services, computer
system integration and network
wiring engineering
Development and manufacture of
computer equipment and
computer software; sale of self-
manufactured products and
provision of technical services		 Proportion of Ownership (%)
September
30,2025
December
31,2024
September
30,2024

100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
97.50%
97.50%
97.50%
92.47%
92.47%
92.47%
99.28%
99.28%
99.24%
88.07%
86.60%
86.60%
0.54%
0.54%
0.54%
98.27%
98.27%
98.27%
79.23%
79.23%
79.23%		 Proportion of Ownership (%)
September
30,2025
December
31,2024
September
30,2024

100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
97.50%
97.50%
97.50%
92.47%
92.47%
92.47%
99.28%
99.28%
99.24%
88.07%
86.60%
86.60%
0.54%
0.54%
0.54%
98.27%
98.27%
98.27%
79.23%
79.23%
79.23%		 Description
September
30,2025
100.00%
100.00%
97.50%
92.47%
99.28%
88.07%
0.54%
98.27%
79.23%		 December
31,2024
100.00%
100.00%
97.50%
92.47%
99.28%
86.60%
0.54%
98.27%
79.23%
A
A
A
A
A、C、E
A、D
A
A
A、B

  • A. The subsidiaries are not significant subsidiaries. The financial statements have not been reviewed by CPAs.

  • B. Xian Lian increased its capital by US$1,500 thousand in February 2024, the Company subscribed for cash capital increase of indirect subsidiary, Xian Lian Company through SYSCOM. The investments amounted to US$1,300 thousand. The Company’s percentage of ownership in Xian Lian increased to 79.23%.

  • C. In November 2024 and April 2025, the Company acquired additional 1 thousand shares of Syscom Information Engineering Co. from an unrelated party for $35 thousand and 5 thousand ,respectively; after the acquisition of further interests, the Company’s percentage of ownership in Syscom Information Engineering Co. increased to 99.28%.

  • D. In April 2025, the Company disposed of 1 thousand shares of Netmaker Technology Co., Ltd. for $11 thousand. In June 2025, the Company acquired 50 thousand shares from non-controlling shareholders in an amount of $495 thousand; following the above transactions, the Company’s percentage of ownership in Netmaker Technology Co., Ltd. increased to 88.07%.

  • E. Wisemaker Technology Co. changed its name to "Syscom Information Engineering Co." in October 2025.

  • (2) Subsidiaries excluded from the consolidated financial statements: None.

  • (3) Subsidiaries with material non-controlling interests: None.

-16-

12. Investments accounted for using the equity method

Investments in associates

Investments in joint ventures


(1)
Investments in associates
Associates that is not
individually materiality
Unlisted companies
DBMaker Japan Inc.		 September 30,
2025
$ 12,695

56,428
$ 69,123
September 30,
2025
$ 12,695		 December 31,
2024
$ 14,145

56,792
$ 70,937
December 31,
2024
$ 14,145		 September 30,
2024		 September 30,
2024
$ 13,450

56,476
$ 69,926
September 30,
2024
$ 13,450
As at the end of the reporting period, the proportions of ownership As at the end of the reporting period, the proportions of ownership and voting rights in
associates held by the Group were as follows:
September 30, December 31, September 30,
Name of the company
2025		 2024 2024
DBMaker Japan Inc.
49.89%		 49.89% 49.89%

Refer to Table 4 “Information on Investees” for the nature of activities, principal place of business and country of incorporation of the associates.

(2) Investments in joint ventures

Investments in joint ventures
Joint venture that is not
individually material
CloudMaster Co., Ltd.
 September 30,
2025
$ 56,428
 December 31,
2024

$ 56,792
 September 30,
2024


$ 56,476

At the end of the reporting period, the proportion of ownership and voting rights in jointly controlled entity held by the Group was as follows:

CloudMaster Co., Ltd. September 30,
2025
50.00%		 December 31,
2024
50.00%		 September 30,
2024
50.00%

Refer to Table 4 “Information on Investees” for the nature of activities, principal place of business and country of incorporation of the Joint venture.

In March 2013, under the authorization of the Investment Commission of the Ministry of Economic Affairs, the Group incorporated CloudMaster under the joint venture agreement and had 50% of ownership. CloudMaster provides services in information software, data processing and electronic information. Under the joint venture agreement, in the meetings of the board of directors and the shareholders of CloudMaster, majority rule shall prevail. However, the Group’s seat in CloudMaster’s board of director does not exceed half of the board. Besides, under CloudMaster’s policies, significant strategic decisions should be made by unanimous agreement of the shareholders of both entities, and the Group has no right to obtain the variable rewards which is unavailable to CloudMaster’s shareholders and does not have direct ability to affect the rewards from investing in CloudMaster. As a result, the Group has no control over CloudMaster.

The investments accounted for using the equity method and the share of profit or loss and other comprehensive income of those investments were calculated based on the joint venture’s financial statements that have not been reviewed by CPAs.

-17-

13. Property, plant and equipment

Property, plant and equipment
Assets used by the Group

Assets leased under operating
leases

(1)
Assets used by the Group
Land

Computer equipment

Maintenance equipment

Buildings

Leasehold improvements

Others

 September 30,
2025
$ 339,075


10,276
$ 349,351

September 30,
2025
$ 122,607
99,321
54,086
41,200
12,018

9,843
$ 339,075		 December 31,
2024

$ 352,694


14,041

$ 366,735

December 31,
2024
$ 123,552
106,735
55,195
43,248
14,853

9,111
$ 352,694		 September 30,
2024

$ 347,374

15,254

$ 362,628
September 30,
2024






$ 123,094
104,942
55,086
43,496
11,321
9,435
$ 347,374

Except for the recognition of depreciation expenses, the Group’s property, plant and equipment did not have significant addition, disposal and impairment for the nine months ended September 30, 2025 and 2024.Depreciation expenses were depreciated on a straight-line basis over the estimated useful life of the asset:

the estimated useful life of the asset:
Buildings 39 to 60 years
Maintenance equipment 6 years
Computer equipment 3 to 6 years
Leasehold improvements 3 to 10 years
Others
- Office equipment 3 to 8 years
-Transportation equipment 5 years
(2)
Assets leased under operating leases
September 30,
2025
Leased equipment

$ 10,276
 December 31,
2024

$ 14,041
 September 30,
2024		 September 30,
2024


$ 15,254

Operating leases relate to leases of equipment with lease terms between 1 to 3 years. The lessees do not have bargain purchase options to acquire the assets at the expiry of the lease periods.

The maturity analysis of lease payments receivable under operating lease payments was as follows:

as follows:
Year 1
Year 2		 September 30,
2025
$ 4,310

38
$ 4,348		 December 31,
2024
$ 16,787

12
$ 16,799		 September 30,
2024






$ 16,906
4,139
$ 21,045

Except for the recognition of depreciation expenses, the Group’s Leased equipment did not have significant addition, disposal and impairment for the nine months ended September 30, 2025 and 2024. The equipment leased under operating leases are depreciated on a straight-line basis over 3 to 6 years estimated useful lives.

-18-

  1. Lease agreements (1) Right-of-use assets
se agreements
Right-of-use assets
Carrying amounts
Buildings
 September 30,
2025
$ 25,366
 December 31,
2024

$ 59,139
 September 30,
2024

$ 71,312
Addition of right-of-use assets
Depreciation charge for right-
of-use assets
Buildings
 For the Three Months Ended
September 30
2025
2024


$ 12,135
$ 12,204
 For the Three Months Ended
September 30
2025
2024


$ 12,135
$ 12,204
 For the Three Months Ended
September 30
2025
2024


$ 12,135
$ 12,204
 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30
2025
$ 12,135
 2025
$ 3,158

$ 36,502
 2024



$ 12,425
$ 36,517

Except for the aforementioned addition and recognized depreciation, the Group did not have significant sublease or impairment of right-of-use assets during the nine months ended September 30, 2025 and 2024.

  • (2) Lease liabilities
Lease liabilities
Carrying amounts
Current

Non-current
 September 30,
2025
$ 17,433
$ 8,078		 December 31,
2024
$ 47,738
$ 12,247		 September 30,
2024


$ 48,461
$ 23,863

The ranges of discount rate for lease liabilities were 1.04%-7.05%, 1.04%-7.64% and 1.04%-7.64% per annum as of September 30, 2025, December 31, 2024 and September 30, 2024, respectively.

(3) Material leasing activities and terms

As lessee, the Group leases buildings for the use as offices and dormitory with lease terms of 2 to 10 years. All lease contracts with lease terms over 5 years specify that lease payments will be adjusted every 5 years on the basis of changes in market rental rates. The Group does not have bargain purchase options to acquire the leasehold buildings at the end of the lease terms.

  • (4) Other lease information

Lease-out arrangements under operating leases for freehold property, plant, and equipment were set out in Note 13.

Expenses relating to short-term
leases

Expenses relating to variable
lease payments not included
in the measurement of lease
liabilities

Total cash outflow for leases		 For the Three Months Ended
September 30		 For the Three Months Ended
September 30		 For the Three Months Ended
September 30		 For the Three Months Ended
September 30		 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30
2025
$ 2,639

$ 125
 2024 2025
$ 7,979

$ 381

$ 50,406)
 2024


$ 2,615

$ 192

(

(		 $ 7,571
$ 489
$ 49,612)

As lessee, the Group leases certain buildings and leasehold improvements which qualify as short-term leases. The Group has elected to apply the recognition exemption and thus, did not recognize right-of-use assets and lease liabilities for these leases.

-19-

15. Intangible assets

ngible assets
Goodwill

Computer software

 September 30,
2025
$ 593

5,614
$ 6,207		 December 31,
2024
$ 593

1,938
$ 2,531		 September 30,
2024






$ 593
2,134
$ 2,727

Except for the recognition of amortization expenses, the Group’s intangible assets did not have significant addition, disposal and impairment for the nine months ended September 30, 2025 and 2024. Computer software is being depreciated on a straight-line basis and will be amortized over 1 to 10 years.

  1. Loans

  2. (1) Short-term borrowings

Loans
Short-term borrowings
Unsecured borrowings
Line of credit borrowings
 September 30,
2025
$ 863,064		 December 31,
2024
$ 176,651		 September 30,
2024
$ 544,643

The range of interest rates on bank revolving loans was 1.90%- 6.82%, 4.45%- 7.23% and 1.95%-7.80% per annum as of September 30,2025, December 31, 2024 and September 30,2024, respectively.

  • (2) Short-term bills payable
Short-term bills payable
Commercial paper

Less: Unamortized discounts on
bills payable

 September 30,
2025
$ -

-
$ -		 December 31,
2024
$ -

-

$ -		 September 30,
2024





(
 $ 50,000
76)
$ 49,924

Outstanding short-term bills payable were as follows: September 30, 2024

PromissoryInstitution

Commercial paper
Da Ching Bills Finance
Corporation
 Nominal Amount
$ 50,000
Discount Amount
$ 76
 CarryingAmount
$ 49,924		 Interest Rate
1.988%
 StartingDate
2024/09/26		 EndingDate
2024/10/28
  1. Other payables
Other payables
Payables for salaries or bonus

Payables for insurance

Payables for value-added tax

Payables for pension

Payable for compensation of
employees

Payables for annual leave

Others

 September 30,
2025
$ 188,075
34,125
24,649
24,164
8,092
343

11,163
$ 290,611		 December 31,
2024
$ 341,689
20,782
44,851
17,451
11,500
2,267

29,902
$ 468,442		 September 30,
2024






$ 179,321
40,442
13,006
28,008
7,861
-
11,035
$ 279,673

-20-

18. Retirement benefits plans

For the three months and nine months ended, September 30, 2025 and 2024, relevant pension costs for defined benefit plans which were determined by the pension cost rates of actuarial valuation as of December 31, 2024 and 2023 were as follows:

For the Three Months Ended
September 30
For the Nine Months Ended
September 30
2025
2024
2025
2024
Operating costs
$ 42
$ 23
$ 71
$ 62
Operating expenses

323

172

831

529
$ 365
$ 195
$ 902
$ 591
Equity
Share capital - ordinary shares
September 30,
2025
December 31,
2024
September 30,
2024
Number of authorized shares
(in thousands)

157,000

157,000

157,000
Amount of authorized shares $ 1,570,000
$ 1,570,000
$ 1,570,000
Number of issued and fully
paid shares (in thousands)
100,000

100,000

100,000
Amount of issued and fully
paid shares
$ 1,000,000
$ 1,000,000
$ 1,000,000		 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30
2025 2024
$ 62

529
$ 591
September 30,
2024		 2024



157,000
$ 1,570,000
100,000
$ 1,000,000

19. Equity

  • (1) Share capital - ordinary shares

Fully paid ordinary shares, which have a par value of $10, carry one vote per share and carry a right to dividends.

(2) Capital surplus

Such capital surplus arise from the difference between consideration paid or received and the carrying amount of the subsidiaries’ net assets during actual acquisition or disposal under equity transactions and from donated assets.

(3) Retained earnings and dividend policy

In accordance with the Company's Articles of Incorporation, if the Company made profit in a fiscal year, the profit shall be first utilized for paying taxes, offsetting losses of previous years, setting aside as legal reserve 10% of the remaining profit, unless the legal reserve has reached the Company’s total paid-up capital. The remaining profit shall be set aside or reverse a special reserve in accordance with the laws and regulations, and then any remaining profit together with any undistributed retained earnings shall be used by the Company’s board of directors as the basis for proposing a distribution plan. The board of directors is authorized to adopt a special resolution to distribute dividends and bonuses in cash and a report of such distribution should be submitted in the shareholders’ meeting. However, other additional distribution should be resolved in the shareholders’ meeting for distribution of dividends and bonus to shareholders. For the policies on distribution of employees’ compensation and remuneration of directors, refer to “employee’s compensation and remuneration of directors ” in Note 21,(7).

The Company distributes both cash and share dividends, taking into account its profitability, future capital expenditure requirements and cash position. The distribution of cash dividends should not be less than 10% of the total dividends of the year. The Company may raise the percentage of cash dividend distribution only if the Company’s earnings and cash position are strong.

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

-21-

Pursuant to existing regulations, the Company is required to set aside additional special reserve equivalent to the net debit balance of the other equity interests. Any special reserve appropriated may be reversed to the extent that the net debit balance reverses and is thereafter distributed.

The appropriations of earnings and dividends per share for 2024 and 2023 were approved in the shareholders’ meetings on June 11, 2025 and June 12, 2024, respectively, were as follows:

Legal reserve
Cash dividends
Cash dividends per share (NT$)		 2024
$ 28,013
$ 260,000
$ 2.6		 2023




$ 27,613
$ 240,000
$ 2.4

The above cash dividends were approved by the board of directors on March 12, 2025 and March 12, 2024, respectively, and the remaining appropriations of earnings were approved by the shareholders’ meeting on June 11, 2025 and June 12, 2024, respectively.

(4) Special reserve

On the first-time adoption of IFRSs, the Company appropriated for special reserve, the amount that was the same as the cumulative translation differences transferred to retained earnings, which was $17,619 thousand.

(5) Other equity interests

  • A. Exchange differences on translating the financial statements of foreign operations
equity interests
Exchange differences on translating the financial statements of foreign operations		 g the financial statements of foreign operations g the financial statements of foreign operations g the financial statements of foreign operations g the financial statements of foreign operations
For the Nine Months Ended September 30
2025
2024
Balance at January 1
( $ 7,521 )
( $ 9,900 )
Exchange differences on
translating the financial
statements of foreign
operations
(
1,832 )
365
Share from associates and joint
venture accounted for using
the equity method
(
41)

51
Balance at September 30
($ 9,394)
($ 9,484)
Unrealized gain (loss) on financial assets at FVTOCI
For the Nine Months Ended September 30
2025
2024
Balance at January 1
$ 37,665
$ 21,628
Unrealized gain - equity
instruments
(
2,642 )
11,774
Transfer of cumulative gain
(loss) on disposal of
equity instruments to
retained earnings
(
157)

-
Balance at September 30
$ 34,866
$ 33,402		 For the Nine Months Ended September 30
2024
2025
$ 37,665

2,642 )
157)
$ 34,866		 2024

(
(

$ 21,628
11,774
-
$ 33,402

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

-22-

(6) Non-controlling interests

For the Nine Months Ended September 30

Balance at January 1
Share in loss for the period
Other comprehensive income (loss)
during the period
Exchange difference on
translating the financial
statements of foreign
operations
Effective acquisition of partial
interest in a subsidiary by
the parent company (Note
11)
Changes in ownership
interests in subsidiaries
(Note 24)
Cash dividends from
subsidiaries
Balance at September 30		 2025
$ 11,508

797 )

299 )

613 )
-
14)
$ 9,785		 2024

(
(
(
(
(
(
 $ 3,097

1,545 )
245
-
10,008
33)
$ 11,772
20. Revenue
Revenue from contracts with
customers
Contract revenue and
revenue from sale of
goods

Revenue from rendering of
services
Rental income
Rental income from
equipment

 For the Three Months Ended
September 30
2025
2024
$ 1,356,398 $ 1,310,205
489,548
398,485

4,279

4,245

$ 1,850,225
$ 1,712,935
 For the Three Months Ended
September 30
2025
2024
$ 1,356,398 $ 1,310,205
489,548
398,485

4,279

4,245

$ 1,850,225
$ 1,712,935
 For the Three Months Ended
September 30
2025
2024
$ 1,356,398 $ 1,310,205
489,548
398,485

4,279

4,245

$ 1,850,225
$ 1,712,935
 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30
2025
$ 1,356,398
489,548
4,279

$ 1,850,225
 2025
$ 3,710,996

1,308,109
12,793

$ 5,031,898
 2024











$ 3,514,081

1,134,199
12,783
$ 4,661,063

(1) Contract information

Revenue from contracts with customers

Contract revenue comes from rendering of computer software and hardware integration services according to contract, which is recognized by reference to the stage of completion of contract activity. The consideration promised is paid by customers based on the schedule in the contract.

Revenue from the sale of goods is recognized when performance obligations are satisfied. The performance obligations are satisfied when customers obtained control and right of use of the promised good and bear inventory risks.

Revenue from rendering of services

Revenue from rendering of services comes from maintenance services. The Group requires partial payments from the customers when the contract is signed. Revenue is recognized on a straight-line basis during the contract period.

-23-

(2)
Contract balances
Accounts receivable (Note 9)

Contract assets

System integration
services

Less:Allowance for
impairment loss

Contract assets - current
Contract liabilities
System integration
services
 September 30,
2025
$ 1,049,151

$ 921,897

-

$ 921,897

$ 442,646
 December 31,
2024
$ 1,157,180

$ 858,494

-

$ 858,494

$ 611,197
 September 30,
2024












$ 824,698
$ 999,296
-
$ 999,296
$ 499,878

The changes in the balance of contract assets and contract liabilities primarily result from the timing difference between the Group’s performance and the respective customer’s payment. Except for adjustments resulting from the changes in the measure of progress, there was no significant change in the current period.

  • (3) Revenue from contracts with customers For the Nine Months Ended September 30, 2025
Type of products or services
Contract revenue and
revenue from sale of goods
Revenue from rendering of
services
Rental income

 Reportable segment
Business
segments of the
Company
$ 3,577,510

1,292,966

12,793

$ 4,883,269
 Business
segments of the
entities controlled
bythe Company
$ 133,486

15,143

-

$ 148,629
 Total






$ 3,710,996
1,308,109
12,793
$ 5,031,898

For the Nine Months Ended September 30, 2024

Type of products or services
Contract revenue and
revenue from sale of goods
Revenue from rendering of
services
Rental income

 Reportable segment
Business
segments of the
Company
$ 3,389,974

1,119,522

12,783

$ 4,522,279
 Business
segments of the
entities controlled
bythe Company
$ 124,107

14,677

-

$ 138,784
 Total






$ 3,514,081
1,134,199
12,783
$ 4,661,063

-24-

21. Net profit

  • (1) Interest income
Interest income
Bank deposits

Other income
Marketing incentive
income

Rental income
Government grants
Others

 For the Three Months Ended
September 30
2025
2024
$ 3,107
$ 2,906

For the Three Months Ended
September 30
2025
2024
$ 5,942
$ 1,207

1,553
2,276
-
9,263
2,417

1,162

$ 9,912
$ 13,908
 For the Nine Months Ended
September 30
2025
2024
$ 10,621
$ 9,227
For the Nine Months Ended
September 30		 2024
2025
$ 5,942

1,553
-
2,417

$ 9,912
 2025
$ 13,603

4,470
12
3,694

$ 21,779
 2024








$ 11,240
4,963
29,807
3,288
$ 49,298

  • (2) Other income

  • (3) Other gains and losses

Other gains and losses
Net foreign exchange gains
Net gains on fair value
changes of financial assets
mandatorily classified as at
FVTPL
Net gains(losses) on disposal
of property, plant and
equipment
Others

 For the Three Months Ended
September 30
2025
2024
$ 4,964 $ 1,666
7
102
- (
374 )
(
1,165)
(
85)

$ 3,806
$ 1,309
 For the Nine Months Ended
September 30
2025

(
(
 2025
$ 2,688

10

283

2,599)

$ 382
 2024

(
 $ 4,964
7
-

1,165)
$ 3,806


(

(
(
 $ 4,371

1,485

286 )
264)
$ 5,306
  • (4) Finance costs
Finance costs
Interest on bank loans

Interest on lease liabilities
 For the Three Months Ended
September 30
2025
2024
$ 4,547 $ 3,827

204

460

$ 4,751
$ 4,287
 For the Nine Months Ended
September 30
2025

2025
$ 10,800
807

$ 11,607
 2024


$ 4,547
204

$ 4,751



$ 10,706
1,476
$ 12,182
  • (5) Depreciation and amortization
Depreciation and amortization
An analysis of depreciation by
function
Operating costs

Operating expenses


An analysis of amortization by
function
Operating expenses
 For the Three Months Ended
September 30
2025
2024
$ 5,348 $ 5,416

23,281

23,173

$ 28,629
$ 28,589

$ 1,870
$ 481
 For the Nine Months Ended
September 30
2025
$ 5,348
23,281

$ 28,629

$ 1,870
 2025
$ 15,943
69,989

$ 85,932

$ 4,065
 2024












$ 15,689
69,735
$ 85,424
$ 900

-25-

(6) Employee benefits expenses

Employee benefits expenses
Short-term employee benefits
Salary

Labor and health Insurance
Others


Post-employment benefits
(Note 18)
Defined contribution plans
Defined benefits plans


Total employee benefits
expense

An analysis of employee
benefits expense by
function
Operating costs

Operating expenses

 For the Three Months Ended
September 30
2025
2024

$ 462,464 $ 425,816

39,373
35,775

19,724

18,923


521,561

480,514


18,468
16,880

365

195


18,833

17,075

$ 540,394
$ 497,589

$ 191,705 $ 182,430

348,689

315,159

$ 540,394
$ 497,589
 For the Nine Months Ended
September 30
2025
$ 462,464

39,373
19,724

521,561


18,468
365

18,833

$ 540,394

$ 191,705
348,689

$ 540,394
 2025
$ 1,168,949

121,972
58,376

1,349,297


53,729
902

54,631

$ 1,403,928

$ 548,984
854,944

$ 1,403,928
 2024









































$ 1,083,888

112,604
55,104
1,251,596

49,884
591
50,475
$ 1,302,071
$ 489,353
812,718
$ 1,302,071

(7) Employees’ compensation and remuneration of directors According to the Articles of Incorporation of the Company, the Company accrued employees’ compensation at rates of no less than 3%. In accordance with the amendment to the Securities and Exchange Act in August 2024, the Company resolved the amendment to its Articles of Incorporation at the 2025 Meeting of Shareholders to stipulate that the compensation for grassroots employees shall be no less than 20% of the employee compensation amount set aside in that year. The employees’ compensation in the amounts of $2,295 thousand, $2,141 thousand, $8,092 thousand and $7,861 thousand, both representing 3% of net profit before tax for the three and nine months ended September 30, 2025 and 2024, respectively. The Company did not accrue remuneration of directors for the nine months ended September 30, 2025 and 2024.

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

The appropriations of employees’ compensation and remuneration of directors for 2024 and 2023 that were resolved by the board of directors on March 12, 2025 and March 12, 2024, respectively. The employees’ compensation amounted to $11,500 thousand and $10,300 thousand, respectively. The Company did not accrue remuneration of directors for the years ended December 31, 2024 and 2023.

There is no difference between the actual amounts of employees’ compensation and remuneration of directors paid and the amounts recognized in the financial statements for the years ended December 31, 2024 and 2023.

Information on the employees’ compensation resolved by the Company’s board of directors in 2025 and 2024 is available at the Market Observation Post System website of the Taiwan Stock Exchange.

-26-

22. Income tax

  • (1) Income tax recognized in profit or loss

The major components of income tax expense were as follows:

Current tax
In respect of the
current period

Adjustments for prior
years
Deferred tax
In respect of the
current period

Income tax expense
recognized in profit or
loss
 For the Three Months Ended
September 30
2025
2024
$ 2,299 $ 4,460
- (
1 )
1,145
(
737)

$ 3,444
$ 3,722
 For the Three Months Ended
September 30
2025
2024
$ 2,299 $ 4,460
- (
1 )
1,145
(
737)

$ 3,444
$ 3,722
 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30
2025
$ 2,299
-
1,145

$ 3,444
 2025
$ 43,159


2,468 )
2,938

$ 43,629
 2024



(
(
(


$ 42,087

1,220
2,528
$ 45,835

(2) Income tax assessments The Company and subsidiaries’ income tax returns have been assessed by the tax authority are as follows:

Income tax assessments
The Company and subsidiaries’ income tax returns
authority are as follows:		 have been assessed
Name of the company
The Company
Netmaker Technology Co., Ltd.
Syscom Information Engineering Co.
Coach Technology Management Inc.		 Year of assessment
2023
2023
2023
2023

23. Earnings per share

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

Net profit for the period

Net profit for the period
Earnings used in the computation
of basic earnings per share

Earnings used in the computation
of diluted earnings per share

Shares
Weighted average number of
ordinary shares used in the
computation of basic earnings
per share
Effect of potentially dilutive
ordinary shares:
Employees’ compensation
Weighted average number of
ordinary shares used in the
computation of diluted earnings
per share



For the Three Months
Ended September 30
2025
2024
$ 71,556
$ 66,170

$ 71,556
$ 66,170

For the Three Months
Ended September 30		 For the Nine Months Ended
September 30
2025
2024
$ 219,985
$ 208,772
$ 219,985
$ 208,772
(Thousand shares)
For the Nine Months Ended
September 30
2025
2024

100,000
100,000

178

194

100,178

100,194

2025

2024 2025


100,000
130
100,130
100,000

146


100,146


100,000
178

100,178

-27-

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

24. Equity transactions with non-controlling interests

In Februrary 2024, the Group subscribed for new shares issued by Xian Linan Computer Co., Ltd. at a percentage different from its original ownership percentage, and consequently the shareholding in Xian Linan Computer Co., Ltd. increased. Please refer to Note 11.

In April 2025, the Group disposed of part of its interest in Netmaker Technology Co., Ltd. In April and June 2025, the Group acquired interest in Syscom Information Engineering Co. and Netmaker Technology Co., Ltd., and consequently the shareholding in above companies increased. Please refer to Note 11.

The above transactions were accounted for as equity transactions, since the Group did not cease to have control over its subsidiary.

For the Nine Months Ended September 30,2025

For the Nine Months Ended September 30,2025
Netmaker
Technology
Co.,Ltd.
Syscom
Information
Engineering Co.
Consideration paid
( $ 484 ) ( $ 5 )
The proportionate share of the carrying
amount of the net assets of the
subsidiaries transferred to non-controlling
interests

610
$ 3
Differences recognized from equity
transactions
$ 126
($ 2)

Line items adjusted for equity transactions
Capital surplus - difference between
consideration received or paid and the
carrying amount of the subsidiaries’ net
assets during actual disposal or
acquisition
$ 126
($ 2)
For the Nine Months Ended September 30,2024

Consideration received

The proportionate share of the carrying amount of the net assets of the subsidiary
transferred to non-controlling interests


Differences recognized from equity transactions


Line items adjusted for equity transactions


Unappropriated earnings
 Total
( $ 489 )

613
$ 124
$ 124
Xian Linan
Computer Co.,
Ltd.


$ 6,277

(
10,008)


($ 3,731)
($ 3,731)		 Total








-28-

25. Financial instruments

  • (1) Fair value of financial instruments not measured at fair value

The Group’s management believes the carrying amounts of financial assets and financial liabilities recognized in the financial statements approximate their fair values. Therefore, the carrying amounts of balance sheet is a reasonable basis for estimating the fair value.

  • (2) Fair value of financial instruments measured at fair value on a recurring basis Fair value hierarchy September 30, 2025
Fair value hierarchy
September 30, 2025
Financial assets at FVTPL
Investments in equity instruments
at FVTPL

Listed shares

Financial assets at FVTOCI
Investments in equity instruments
at FVTOCI
Listed shares

Unlisted shares

Total

December 31, 2024
Financial assets at FVTPL
Fund beneficial certificates

Financial assets at FVTOCI
Investments in equity instruments
at FVTOCI
Listed shares

Unlisted shares

Total

September 30, 2024
Financial assets at FVTPL
Fund beneficial certificates


Financial assets at FVTOCI

Investments in equity instruments
at FVTOCI

Listed shares

Unlisted shares

Total
 Level 1
$ 269

$ 44,564
-

$ 44,564

Level 1
$ 463

$ 47,468
-

$ 47,468

Level 1
$ 462

$ 43,205
-

$ 43,205
 Level 2
$ -

$ -
-

$ -

Level 2
$ -

$ -
-

$ -

Level 2
$ -

$ -
-

$ -
 Level 3

$ -




$ -
1,595

$ 1,595

Level 3

$ -




$ -
1,595

$ 1,595

Level 3

$ -

$ -
1,595

$ 1,595
 Total

















$ 269
$ 44,564
1,595
$ 46,159
Total
















$ 463
$ 47,468
1,595
$ 49,063
Total
















$ 462
$ 43,205
1,595
$ 44,800

There were no transfers between Levels 1 and 2 for the nine months ended September 30, 2025 and 2024.

-29-

(3) Categories of financial instruments

Financial assets
Mandatorily classified as at
FVTPL

Financial assets at amortized
cost (Note 1)

Financial assets at FVTOCI

Equity instruments

Financial liabilities

Financial liabilities at
amortized cost (Note 2)
 September 30,
2025
$ 269

2,071,325
46,159
2,183,276		 December 31,
2024
$ 463

2,364,851
49,063
1,894,112		 September 30,
2024
$ 462
2,012,293
44,800
1,994,748

  • Note 1: The balances include financial assets measured at amortized cost, which comprise cash and cash equivalents, debt investments, notes receivable, accounts receivable, lease receivable and other receivables.

  • Note 2: The balances include financial liabilities measured at amortized cost, which comprise short-term loans, short-term bills payable, notes payable, accounts payable and other payables.

  • (4) Financial risk management objectives and policies

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

A. Market risk

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

  • a. Foreign currency risk

The Group have foreign currency sales and purchases, which exposes the Group to foreign currency risk.

The carrying amounts of the Group’s foreign currency denominated monetary assets and monetary liabilities at the end of the reporting period are set out in Note 29.

Sensitivity analysis

The Group is mainly exposed to USD and JPY.

The following details the Group’s sensitivity to a 10% increase and decrease in New Taiwan dollars (the functional currency) against the relevant foreign currencies. The sensitivity rate of 10% used when reporting foreign currency risk internally to key management personnel and representing management’s assessment of the reasonably possible change in foreign exchange rates. The sensitivity analysis included only outstanding foreign currency denominated monetary items and foreign currency forward contracts designated as cash flow hedges and adjusts their translation at the end of the reporting period for a 10% change in foreign currency rates. A positive number below indicates an increase in pre-tax profit with the New Taiwan dollar strengthening 10% against the relevant currency. For a 10% weakening of the New Taiwan dollar against the relevant currency, there would be an equal and opposite impact on pre-tax profit, and the balances below would be negative.

-30-

Profit or Loss

Profit or Loss Profit or Loss
USD
JPY		 For the Nine Months Ended September 30
2025
$ 6,188
(
426 )		 2024
$ 12,284
(
1,382 )

The above effect of exchange rate changes was mainly attributable to the exposure outstanding on foreign currency cash, receivables, payables and borrowings, which were not hedged at the end of the reporting period.

b. Interest rate risk

The Group is exposed to interest rate risk because the Group borrow funds at both fixed and floating interest rates. The risk is managed by the Group by maintaining an appropriate mix of fixed and floating rate borrowings. The carrying amount of the Group’s financial assets and financial liabilities with exposure to interest rates at the end of the reporting period were as follows:

Fair value interest rate
risk
- Financial assets

- Financial liabilities
Cash flow interest rate
risk

- Financial assets

- Financial liabilities		 September 30,
2025
$ 479,236


610,511


495,254

278,064		 December 31,
2024
$ 719,248

59,985
468,996
176,651		 September 30,
2024
$ 539,022
352,248
609,462
314,643

Sensitivity analysis

The sensitivity analysis below was determined based on the Group’s exposure to interest rates for non-derivative instruments at the end of the reporting period. For floating rate liabilities, the analysis was prepared assuming the amount of each liability outstanding at the end of the reporting period was outstanding for the whole year. A 25 basis point increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates

If interest rates had been 25 basis points higher/lower and all other variables were held constant, the Group’s pre-tax profit for the nine months ended September 30, 2025 and 2024 would increase/decrease by $407 thousand and $553 thousand, respectively.

B. Credit risk

Credit risk refers to the risk that counterparty will default on its contractual obligations resulting in financial loss to the Group. As at the end of the reporting period, the Group’s maximum exposure to credit risk, which would cause a financial loss to the Group due to the failure of counterparties to discharge its obligation and due to the financial guarantees provided by the Group, could arise from the carrying amount of the respective recognized financial assets as stated in the consolidated Balance Sheet.

The Group adopted a policy of only dealing with creditworthy counterparties. Before trading with new customers, the Group assessed the credit quality of potential customer by internal credit checking and set the credit limit which is reassessed annually.

-31-

C. Liquidity risk

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

The Group relies on bank borrowings as a significant source of liquidity. The Group had available unutilized short-term bank loan facilities set out in b. below.

a. Liquidity and interest risk rate table for non-derivative financial liabilities The following table details the Group’s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The table has been drawn up based on the undiscounted cash flows of financial liabilities from the earliest date on which the Group can be required to pay. The table included both interest and principal cash flows. Specifically, bank loans with a repayment on demand clause were included in the earliest time band regardless of the probability of the banks choosing to exercise their rights. The maturity dates for other non-derivative financial liabilities were based on the agreed repayment dates. September 30, 2025

Payment on Payment on
demand or less
than 1 month 1～3 months
 3 months～1year 1～5years More than 5years
Non-derivative financial
liabilities
Non-interest bearing
 $ -
 $ 1,318,013
 $ -
 $
-		 $ -
Lease liabilities
 4,175 8,350 5,632
 8,320 -
Variable interest rate
liabilities
 112,632 40,374 130,191 - -
Fixed interest rate
liabilities
 415,692
 170,276
 -
 - -
$ 532,499
 $ 1,537,013
$ 135,823
 $
8,320		 $ -
Additional information about the maturity analysis for lease liabilities:
Less than 1year 1 to 5years 5 to 10years
Lease liabilities $ 18,157
 $ 8,320 $ -
December 31, 2024
Payment on Payment on
demand or less
than 1 month 1～3 months
 3 months～1year 1～5 years More than 5years
Non-derivative financial
liabilities
Non-interest bearing
 $ -
 $ 1,716,354
 $ -
 $ - $ -
Lease liabilities
 4,225
 8,427
 36,266
 12,738 -
Variable interest rate
liabilities
 40,326
 70,241
 69,902
 - -
$ 44,551
 $ 1,795,022
 $ 106,168
 $
12,738		 $ -
Additional information about the maturity analysis for lease liabilities:
Less than 1year 1 to 5years 5 to 10years
Lease liabilities $ 48,918
 $ 12,738 $ -
September 30, 2024
Payment on
demand or less
than 1 month 1～3 months
 3 months～1year 1～5 years More than 5years
Non-derivative financial
liabilities
Non-interest bearing
 $ -
 $ 1,398,924
 $ -
 $ - $ -
Lease liabilities
 4,222 8,445 37,150
 24,471 -
Variable interest rate
liabilities
 151,280 27,260 141,699 - -
Fixed interest rate
liabilities
 280,325
 -
 -
 - -
$ 435,827
 $ 1,434,629
$ 178,849
 $ 24,471 $ -

-32-

Additional information about the maturity analysis for lease liabilities: Less than 1 year 1 to 5 years 5 to 10 years Lease liabilities $ 49,817 $ 24,471 $ -

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

  • b. Financing facilities
Financing facilities
Unsecured bank
financing facilities,
reviewed annually
and payable on
demand:
Amount used

Amount unused
September 30,
2025
$ 1,679,635


2,008,130

$ 3,687,765
 December 31,
2024
$ 1,089,626

1,916,371

$ 3,005,997
 September 30,
2024






$ 1,354,655
1,420,340
$ 2,774,995

26. Related Party Transactions

Transactions and balances between the Company and its subsidiaries, which were related parties of the Company, had been eliminated on consolidation and are not disclosed in this note. Besides as disclosed elsewhere in the other notes, details of transactions between the Group and other related parties were disclosed below.

  • (1) Related-party and its relationship

Related party Relationship Furly Investment Co., Ltd.( Furly Investment) Substantive related party Chuan Gao Investment Co., Ltd.( Chuan Gao Investment) Substantive related party DBMaker Japan Inc. Associate CloudMaster Co., Ltd.( CloudMaster) Joint ventures

  • (2) Operating revenue (sales, maintenance and rental revenue)
Related PartyCategories
Associate

Joint ventures

 For the Three Months Ended
September 30

2025
2024
$ 4,910 $ 7,225

1,159

955

$ 6,069
$ 8,180
 For the Three Months Ended
September 30

2025
2024
$ 4,910 $ 7,225

1,159

955

$ 6,069
$ 8,180
 For the Three Months Ended
September 30

2025
2024
$ 4,910 $ 7,225

1,159

955

$ 6,069
$ 8,180
 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30
2025
$ 4,910
1,159

$ 6,069
 2025
$ 10,643
2,509

$ 13,152
 2024








$ 15,840
2,832
$ 18,672
  • (3) Operating costs (including sales, maintenance and rental)
(3) Operating costs (including sales, maintenance and rental) Operating costs (including sales, maintenance and rental)
(4) For the Three Months Ended
September 30
For the Nine Months Ended
September 30
Related PartyCategories
2025
2024
2025
2024
Associate
$ 4,155
$ 1,015
$ 4,155
$ 1,015
Receivables from related parties (excluding loans to related parties)
Line Item
Related Party
Categories
September 30,
2025
December 31,
2024
September 30,
2024
Accounts
Associate

$ 4,800
$ 16,232
$ 13,790
receivable
Joint ventures


1,212

226

775

$ 6,012
$ 16,458
$ 14,565		 For the Nine Months Ended
September 30
2025 2024
$ 4,155 $ 1,015
September 30,
2024


$ 16,232
226
$ 16,458

$ 13,790
775
$ 14,565

-33-

The outstanding accounts receivable from related parties are unsecured. For the nine months ended September 30, 2025 and 2024, no impairment loss was recognized on accounts receivable from related parties.

receivable from related parties.
(5) Payables to related parties (excluding loans from related parties)
Line Item
Related Party
Categories
September 30,
2025
December 31,
2024
Accounts
Associate

$ 834
$ 3,654
payable
Joint ventures

10
3,668
Substantive related
party


-

12

$ 844
$ 7,334		 September 30,
2024


$ 1,235
6
-
$ 1,241

The outstanding accounts payable from related parties are unsecured.

  • (6) Acquisitions of property, plant and equipment
Related PartyCategories
Associate
Lease agreement
Line Item
Related Party Categories
/Name
Lease liabilities
Substantive related party
Chuan Gao Investment
Furly Investment		 For the Nine Months Ended September 30 For the Nine Months Ended September 30 For the Nine Months Ended September 30 For the Nine Months Ended September 30 For the Nine Months Ended September 30 For the Nine Months Ended September 30
2025 -

December 31,
2024
$ 26,332

17,645
$ 43,977		 2024
$
September 30,
2025
$ 7,807

4,446
$ 12,253		 $ $ 3,764
September 30,
2024






$ 32,454
21,998
$ 54,452
  • (7) Lease agreement
Line Item
Finance costs		 Related Party
Categories/Name		 For the Three Months Ended
September 30		 For the Three Months Ended
September 30		 For the Three Months Ended
September 30		 For the Three Months Ended
September 30		 For the Nine Months Ended
September 30
2025
2024
$ 239 $ 616

162

436
$ 401
$ 1,052		 For the Nine Months Ended
September 30
2025
2024
$ 239 $ 616

162

436
$ 401
$ 1,052		 For the Nine Months Ended
September 30
2025
2024
$ 239 $ 616

162

436
$ 401
$ 1,052		 For the Nine Months Ended
September 30
2025
2024
$ 239 $ 616

162

436
$ 401
$ 1,052
2025 2024 2025
$ 239
162

$ 401
 2024
Substantive related party
Chuan Gao Investment

Furly Investment

$ 48
31

$ 79

$ 174
122

$ 616
436
$ 296 $ 1,052
  • (8) Rental expenses
Line Item
Operating

expenses		 Related Party
Categories/Name		 For the Three Months Ended
September 30		 For the Three Months Ended
September 30		 For the Three Months Ended
September 30		 For the Three Months Ended
September 30		 For the Nine Months Ended
September 30
2025
2024
$ 5,185 $ 5,045

1,601

1,472
$ 6,786
$ 6,517		 For the Nine Months Ended
September 30
2025
2024
$ 5,185 $ 5,045

1,601

1,472
$ 6,786
$ 6,517		 For the Nine Months Ended
September 30
2025
2024
$ 5,185 $ 5,045

1,601

1,472
$ 6,786
$ 6,517		 For the Nine Months Ended
September 30
2025
2024
$ 5,185 $ 5,045

1,601

1,472
$ 6,786
$ 6,517
2025 2024 2025
$ 5,185
1,601

$ 6,786
 2024
Substantive related party
Chuan Gao Investment

Furly Investment

$ 1,729
534

$ 2,263

$ 1,728
533

$ 5,045
1,472
$ 2,261 $ 6,517
  • (9) Rental income
Line Item Related Party
Categories/Name
Joint venture
CloudMaster
 For the Three Months Ended
September 30		 For the Three Months Ended
September 30		 For the Three Months Ended
September 30		 For the Three Months Ended
September 30		 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30		 For the Nine Months Ended
September 30
2025
$ 411
 2024 2025
$ 1,254
 2024
Other income $ 1,038
 $ 1,570
  • (10) Compensation of key management personnel
Short-term employee benefits
Post-employment benefits

 For the Three Months Ended
September 30		 For the Three Months Ended
September 30		 For the Three Months Ended
September 30		 For the Three Months Ended
September 30		 For the Nine Months Ended
September 30
2025
2024
$ 219,520 $ 210,380


10,572

10,231

$ 230,092
$ 220,611		 For the Nine Months Ended
September 30
2025
2024
$ 219,520 $ 210,380


10,572

10,231

$ 230,092
$ 220,611		 For the Nine Months Ended
September 30
2025
2024
$ 219,520 $ 210,380


10,572

10,231

$ 230,092
$ 220,611		 For the Nine Months Ended
September 30
2025
2024
$ 219,520 $ 210,380


10,572

10,231

$ 230,092
$ 220,611
2025
$ 79,950
3,621

$ 83,571
 2024 2025
$ 219,520
10,572

$ 230,092
 2024




$ 75,114
3,549

$ 210,380

10,231
$ 220,611
$ 78,663

-34-

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

27. Assets Pledged as Collateral

The assets pledged as collaterals for system design contract, bank loans and for product warranty were as follows:

warranty were as follows:
Pledge deposits (classified as
financial assets at amortized
cost)
 September 30,
2025
$ 281,049		 December 31,
2024
$ 349,765		 September 30,
2024
$ 361,141

28. Significant Contingent Liabilities and Unrecognized Commitments

As of September 30, 2025, f or the contracts with customers , the Group issued guarantee notes and had bank guarantee amounting to $120,947 thousand and $816,571 thousand, respectively.

29. Significant Assets and Liabilities Denominated in Foreign Currencies

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

September 30, 2025

were as follows:
September 30, 2025
Financial assets
Monetary items
USD
JPY
Non-monetary item
JPY
Financial liabilities
Monetary items
USD
JPY
December 31, 2024
Financial assets
Monetary items
USD
JPY
Non-monetary items
JPY
Financial liabilities
Monetary items
USD
JPY		 Foreign currency
$ 4,441
24,767
61,688
6,474
4,053
Foreign currency
$ 959
79,459
67,388
7,221
17,408		 Exchange rate
30.445
0.2058
0.2058
30.445
0.2058
Exchange rate
32.785
0.2099
0.2099
32.785
0.2099		 Carryingamount
$ 135,219
5,097
12,695
197,100
834
Carryingamount
$ 31,427
16,678
14,145
236,737
3,654

-35-

September 30, 2024

September 30, 2024
Financial assets
Monetary items
USD
JPY
Non-monetary items
JPY
Financial liabilities
Monetary items
USD
JPY		 Foreign currency
$ 1,680
67,703
60,504
5,561
5,553		 Exchange rate
31.65
0.2223
0.2223
31.65
0.2223		 Carryingamount
$ 53,175
15,050
13,450
176,017
1,234

The significant realized and unrealized foreign exchange gains (losses) were as follows: For the Three Months Ended September 30

Foreign
currency
USD
USD

JPY
Foreign
currency
USD

USD
JPY		 2025 2025 2024
Exchange rate
32.301(USD: NTD)


7.115(USD: RMB)

0.0479(JPY : RMB)

Ended September 30		 Net
exchange
(loss) gain
($ 926 )
2,615
(
24 )
2025 Net
exchange
(loss) gain
($ 408 )
2,173
911		 2024
Exchange rate
31.222(USD: NTD)

7.165(USD: RMB)
0.0486(JPY : RMB)		 Exchange rate
32.034(USD: NTD)

7.108(USD: RMB)

0.0473(JPY : RMB)
 Net
exchange
(loss) gain
$ 2,686
2,326
(
641 )

  1. Separately Disclosed Items

  2. (1) Information about significant transactions:

    • A. Financing provided to others: None.

    • B. Endorsements/guarantees provided (Table 1).

    • C. Significant marketable securities held (excluding investment in subsidiaries, associates and joint ventures) (Table 2).

    • D. Total purchases from or sales to related parties amounting to at least NT$100 million or 20% of the paid-in capital: None.

    • E. Receivables from related parties amounting to at least NT$100 million or 20% of the paid-in capital: None.

  3. F. Other: Intercompany relationships and significant intercompany transactions: (Table 3).

  4. (2) Information on investees: (Table 4).

  5. (3) Information on investments in Mainland China:

    • A. Information on any investee company in mainland China, showing the name, principal business activities, paid-in capital, method of investment, inward and outward remittance of funds, ownership percentage, investment income or loss, carrying amount of the investment at the end of the period, repatriations of investment income, and limit on the amount of investment in the mainland China area (Table 5).

    • B. Any of the following significant transactions with investee companies in mainland China, either directly or indirectly through a third party, and their prices, payment terms, and unrealized gains or losses: None.

-36-

  • a. The amount and percentage of purchases and the balance and percentage of the related payables at the end of the period.

  • b. The amount and percentage of sales and the balance and percentage of the related receivables at the end of the period.

  • c. The amount of property transactions and the amount of the resultant gains or losses.

  • d. The balance of negotiable instrument endorsements or guarantees or pledges of collateral at the end of the period and the purposes.

  • e. The highest balance, the end of period balance, the interest rate range, and total current period interest with respect to financing of funds.

  • f. Other transactions that have a material effect on the profit or loss for the year or on the financial position, such as the rendering or receipt of services.

31. Segment Information

Information reported to the chief operating decision maker for the purpose of resource allocation and assessment of segment performance focuses on the types of goods or services delivered or provided. The Group’s reportable segments were the operating segments of the Company and the entities controlled by the Company.

  • (1) Segment revenue and results
Reportable segment
Business segments of the
Company

Business segments of the
entities controlled by
the Company
Elimination of inter-
segment revenue

Total of reportable segments

Non-operating income and
expense
Net profit before tax		 Segment revenue
For the Nine Months Ended
September 30
2025
2024
$ 4,903,311
$ 4,524,820

188,157
166,753


59,570)
(
30,510)

$ 5,031,898
$ 4,661,063

 Segment revenue
For the Nine Months Ended
September 30
2025
2024
$ 4,903,311
$ 4,524,820

188,157
166,753


59,570)
(
30,510)

$ 5,031,898
$ 4,661,063

 Segmentprofit or loss Segmentprofit or loss
For the Nine Months Ended
September 30
2025
$ 4,903,311

188,157

59,570)

$ 5,031,898
 2025 2024
$ 216,244
(
17,983 )

1,460
199,721

53,341
$ 253,062

(
(
 $ 258,230
(
15,973 )

911
243,168

19,649
$ 262,817

Segment revenue reported above represents revenue generated from external customers and inter-segment transactions.

  • (2) Total segment assets and liabilities
Segment assets
Business segments of the Company

Business segments of the entities
controlled by the Company

Total

Segment liabilities
Business segments of the Company

Business segments of the entities
controlled by the Company

Total
 September 30,
2025
$ 4,547,369

349,582

$ 4,896,951

$ 2,533,591

225,186

$ 2,758,777
 December 31,
2024
$ 4,494,302

385,228

$ 4,879,530

$ 2,438,808

256,471

$ 2,695,279
 September 30,
2024















$ 4,400,048
361,979
$ 4,762,027
$ 2,432,022
226,795
$ 2,658,817

-37-

SYSCOM COMPUTER ENGINEERING CO. AND SUBSIDIARIES Endorsements/Guarantees Provided

For the Nine Months Ended September 30, 2025

Table 1

(In Thousands of New Taiwan Dollars and Foreign Currency)

No. Endorser/
Guarantor		 Endorsee/
Guarantee		 Limits on
Endorsement/
Guarantee Given
on Behalf of
Each Party		 Maximum Amount
Endorsed/
Guaranteed During
the Period		 Outstanding
Endorsement/
Guarantee at the
End of the Period
(Note 2)		 Actual Borrowing
Amount		 Amount Endorsed/
Guaranteed by
Collateral		 Ratio of
Accumulated
Endorsement
/Guarantee to
Net Equity in
Latest
Financial
Statements
(%)
Aggregate
Endorsement/
Guarantee Limit		 Endorsement
/Guarantee
Given by
Parent on
Behalf of
Subsidiaries		 Endorsement
/Guarantee
Given by
Subsidiaries
on Behalf of
Parent		 Endorsement
/Guarantee
Given on
Behalf of
Companies in
Mainland
China
Name Relationship
0 Syscom
Computer
Engineering
Co.		 Syscom Computer
(Shenzhen) Co., Ltd.
Netmaker Technology Co.,
Ltd.
Coach Technology
Management Inc.
Syscom Computer
(Thailand)Co., Ltd.		 Note 1
Note 1
Note 1
Note 1		 20% of the net
worth
$425,678
Same as above
Same as above
Same as above		 $ 313,584
( USD
10,300 )
85,000
15,000
28,398
(THB
30,000)		 $ 243,560
( USD
8,000 )
80,000
15,000
28,398
(THB
30,000)		 $ 173,326
( USD
5,693 )
-
-
4,733
(THB
5,000)		 $ -
-
-
-		 11.44
3.76
0.70
1.33		 50% of the net
worth
$1,064,195
Same as above
Same as above
Same as above		 Yes
Yes
Yes
Yes		 No
No
No
No		 Yes
No
No
No

Note 1 : The company in which the public company directly and indirectly holds more than 50% of the voting shares.

Note 2 : The above amounts were translated into New Taiwan dollar at the prevailing exchange rate as of September 30, 2025.

Note 3 : The balance of endorsement and guarantee at the end of the period includes $14,199 thousand from Syscom Computer (Thailand)Co., Ltd., whose endorsement and guarantee duration has been approved to be extended in advance in accordance with the Company Rules Governing Endorsement and Guarantees.

-38-

SYSCOM COMPUTER ENGINEERING CO. AND SUBSIDIARIES

Significant Marketable Securities Held September 30, 2025

September 30, 2025
Table 2 (In Thousands of New Taiwan Dollars and in thousands of Shares(Thousands of Units))
Holding Company Name Type and name of marketable securities Relationship with the Holding
Company		 Financial Statement Account September 30, 2025 Note
Number of
shares/units		 Carrying amount Percentage of
Ownership (%)		 Fair value
SYSCOM COMPUTER
ENGINEERING CO.		 Stocks
Turn Cloud Technology Service Inc.		 － Financial assets at fair value through
other comprehensive income - non-
current		 205 $ 42,472 0.90 $ 42,472

Note 1: The securities referred to in this table include stocks, bonds, mutual funds and securities derived from the above - mentioned items within the scope of International Financial Reporting Standard No. 9 “Financial Instruments”. Note 2: This table is the securities that the company judges and must be listed in accordance with the principle of significance.

-39-

SYSCOM COMPUTER ENGINEERING CO. AND SUBSIDIARIES

Intercompany Relationships and Significant Intercompany Transactions and Subsidiary and Between Subsidiaries For the Nine Months Ended September 30, 2025

Table 3

(In Thousands of New Taiwan Dollars)

No. Name of the trader Counterparty of the transaction Relationship with the
trader
(Note)		 Transaction details Transaction details
Account on the financial statements Amount Trading terms As a percentage of
consolidated total
revenue or total assets
0
1
2		 The Company
The Company
The Company
The Company
The Company
The Company
The Company
The Company
The Company
The Company
The Company
Casemaker Inc.
Xian Linan Computer Co.,Ltd.		 Netmaker Technology Co.
Netmaker Technology Co.
Netmaker Technology Co.
Netmaker Technology Co.
Netmaker Technology Co.
Syscom Information Engineering Co.
Syscom Information Engineering Co.
Syscom Information Engineering Co.
Coach Technology Management Inc.
Syscom Computer(Thailand)Co., Ltd.
Syscom Computer(Thailand)Co., Ltd.
Syscom Computer (Shenzhen)Co., Ltd.
Syscom Computer(Shenzhen)Co.,Ltd.		 1
1
1
1
1
1
1
1
1
1
1
2
2		 Prepayment for purchases
Sales revenue
Maintenance revenue
Cost of goods sold
Maintenance costs
Cost of goods sold
Maintenance costs
Miscellaneous expenses
Miscellaneous expenses
Account receivable
Sales revenue
Sales revenue
Sales revenue		 $ 5,905
1,455
1,395
12,920
4,337
18,419
1,132
1,084
2,598
16,409
17,677
5,881
1,669		 General trading terms
General trading terms
General trading terms
General trading terms
General trading terms
General trading terms
General trading terms
General trading terms
General trading terms
General trading terms
General trading terms
General trading terms
General tradingterms		 -
-
-
-
-
-
-
-
-
-
-
-
-

Note: 1.Parent to subsidiary. Note: 2.Subsidiary to subsidiary.

-40-

SYSCOM COMPUTER ENGINEERING CO. AND SUBSIDIARIES Information on Investees

For the Nine Months Ended September 30, 2025

Table 4

(In Thousands of New Taiwan Dollars/Thousands of Shares)

Investor Company Investee Company Location Main Businesses and Products Original investment amount Original investment amount As of September 30,2025 As of September 30,2025 As of September 30,2025 Net Income (Loss) of
the Investee(Note)		 Share of Profit (Loss) Note
September 30, 2025 December 31, 2024 Number of
Shares
(Thousands)		 Percentage of
Ownership
Carrying amount
SYSCOM COMPUTER
ENGINEERING CO.
Coach Technology
Management Inc.		 Coach Technology Management Inc.
Casemaker Inc.
SYSCOM INTERNATIONAL INC.
Netmaker Technology Co., Ltd.
Syscom Information Engineering Co.
DBMaker Japan, Inc.
Syscom Computer(Thailand)Co., Ltd.
Cloudmaster Co., Ltd.
Syscom Computer(Thailand)Co., Ltd.		 Taipei City
California,
U.S.A.
Cayman
Islands
Taipei City
Taipei City
Tokyo,
Japan
Thailand
Taipei City
Thailand		 Diagnostic consulting for corporate
management, domestic and foreign
investment referral, and computerized
design consulting.
Sales of computer software, hardware
and related products.
Investments in other businesses
Information software, data processing
and electronic information supply
services
Sales of computer software, hardware
and related products.
Development and sales of computer
system software and hardware
Development and maintenance of
software and other businesses
Information software, data processing
and electronic information supply
services
Development and maintenance of
software and other businesses
$ 19,200
USD
1,300
USD
7,400
19,247
42,231
JPY
53,260
THB
33,134
65,000
THB
200		 $ 19,200
USD
1,300
USD
7,400
18,763
42,226
JPY
53,260
THB
33,134
65,000
THB
200		 1,950
1,300
7,400
2,906
2,681
5
3,440
6,500
20		 97.50
100.00
100.00
88.07
99.28
49.89
92.47
50.00
0.54		 $ 4,417
96,034
(
109,608 )
36,545
57,965
12,695
10,632
56,428
62		 ( $ 2,170 )
(
1,014 )
(
21,358 )

2,809

1,899
(
2,409 )

3,155
(
647 )

3,155		 ( $ 2,116 )
(
1,014 )
(
21,358 )

2,432

1,886
(
1,202 )
2,918
(
324 )
Not applicable		 Subsidiary
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Equity-method
investee
Subsidiary
Equity-method
investee
Subsidiary

Note: The foreign currency amount of the net income of the investee is expressed in New Taiwan dollars at the average exchange rate of the nine months ended September 30,2025.

-41-

SYSCOM COMPUTER ENGINEERING CO. AND SUBSIDIARIES Information on Investments in Mainland China

For the Nine Months Ended September 30, 2025

Table 5

(In Thousands of New Taiwan Dollars/foreign currency)

Investee Company Main Businesses and
Products		 Paid-in capital Method of
Investment		 Accumulated Outward
Remittance for
Investment from
Taiwan as of
January1,2025		 Accumulated Outward
Remittance for
Investment from
Taiwan as of
January1,2025
Remittance of Funds
Remittance of Funds		 Accumulated Outward
Remittance for
Investment from
Taiwan as of
September 30,2025
Net Income (Loss) of
the Investee
% Ownership
of Direct or
Indirect
Investment		 Investment Gain
(Loss)		 Carrying Amount as
of
September 30, 2025
Accumulated
Repatriation of
Investment Income
as of September 30,
2025		 Note
Outward Inward
Syscom Computer
(Shenzhen)Co., Ltd.
Xian Linan Computer
Co., Ltd.		 Computer equipment
software
development, sales of
self-developed
technical
achievements services,
computer system
integration and
network wiring
engineering.
Development and
manufacture of
computer equipment
and computer
software; sale of self-
manufactured
products and
provision of technical
services.
$ 137,003
( USD
4,500 )
115,691
( USD
3,800 )		 Note 1
Note 1		 $ ( USD
( USD		 126,956

4,170 )
85,794

2,818 )		 $ -
-		 $ -
-		 $ 126,956
( USD
4,170 )
85,794
( USD
2,818 )		 ( $ 19,111 )
(( USD 612))
(Note 2)
(
4,924 )
( (USD
158 ))
(Note 2)		 98.27%
79.23%		 ( $ 18,780 )
( (USD
602 ))
(Note 2)
(
3,902 )
( (USD 125))
(Note 2)		 ( $ 139,895 )
( (USD
4,595 ))
(Note 2)
22,816
( USD
749 )
(Note 2)		 $ -
-
Accumulated Outward Remittance for Investment
in Mainland China as of
September 30,2025		 Investment Amounts Authorized by Investment
Commission, MOEA		 Upper Limit on the Amount of Investment
Stipulated by Investment Commission, MOEA
(Note 3)
$ 212,750
(USD
6,988)		 $ 451,743
(USD
14,838) (Note 1(II))		 $ 1,277,033
13,280
(USD
436) (Note 1(I))

Note 1: Investment methods are classified into the following two categories:

(I) An investee of CASEMaker, Inc., a wholly owned subsidiary of Syscom Computer Engineering Company and capital increase from capital surplus.

(II) An investee of Syscom International Inc., a wholly owned subsidiary of Syscom Computer Engineering Company.

Note 2: Amount was recognized based on the financial statements which were not reviewed by CPAs on September 30, 2025.

Note 3: According to the "Principles for the Review of Investment or Technical Cooperation in the Mainland Area" stipulated by the Investment Commission of the Ministry of Economic Affairs (MOEAIC), the upper limit is calculated as follows:

60% of the shareholders’ equity ： $2,128,389 × 60% = $1,277,033.

Note 4: The foreign currency amounts of original investment amount and carrying value are expressed in New Taiwan dollars at exchange rate as of September 30, 2025. The foreign currency amount of net income is expressed in New Taiwan dollars at average exchange rate for the nine months ended September 30, 2025.

-42-

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