1802

TAIWAN GLASS INDUSTRIAL CORPORATION
PARENT COMPANY ONLY FINANCIAL
STATEMENTS
WITH INDEPENDENT AUDITORS' REPORT
FOR THE YEARS ENDED
DECEMBER 31, 2025 AND 2024

Address: 11th Floor, No. 261, Sec. 3, Nanjing E. Rd., Taipei, Taiwan, R.O.C.
Telephone: 886-2-2713-0333

The reader is advised that these parent company only financial statements have been prepared originally in Chinese. In the event of a conflict between these financial statements and the original Chinese version or difference in interpretation between the two versions, the Chinese language financial statements shall prevail.

EY安永

安永聯合會計師事務所

11012 台北市慕隆路一段333號9樓
9F, No. 333, Sec. 1, Keelung Road, Taipei City, Taiwan, R.O.C.

Tel: 886 2 2757 8888
Fax: 886 2 2757 6050
ey.com/zh_tw

Independent Auditors’ Report Translated from Chinese

To Taiwan Glass Industrial Corporation

Opinion

We have audited the accompanying balance sheets of Taiwan Glass Industrial Corporation (the “Company”) as of December 31, 2025 and 2024, and the related statements of comprehensive income, changes in equity and cash flows for the years ended December 31, 2025 and 2024, and notes to the financial statements, including the summary of material accounting policies (collectively “the financial statements”).

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and their financial performance and cash flows for the years ended December 31, 2025 and 2024, in conformity with the requirements of the Regulations Governing the Preparation of Financial Reports by Securities Issuers.

Basis for Opinion

We conducted our audits in accordance with the Regulations Governing Financial Statement Audit and Attestation Engagements of Certified Public Accountants and the Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China (the “Norm”), and we have fulfilled our other ethical responsibilities in accordance with the Norm. Based on our audits, we believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of 2025 financial statements. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

A member firm of Ernst & Young Global Limited

EY安永

Valuation of Inventories

As of December 31, 2025, the Company’s net inventories amounted to NT$3,956,579 thousand, which is relatively material for the financial statements. The Company is engaged in the manufacturing, processing and sale of various glasses which have a wide range of applications in various sectors such as construction, electronics and consumer products industries. Considering the fact that identification of slow-moving inventories and the assessment of the amount of inventory write-downs require significant management judgement based on market demands, we determined this a key audit matter.

Our audit procedures included, but not limited to, assessing the appropriateness of the accounting policies of evaluating slow-moving and obsolete inventories, including analyzing slow-moving inventory allowance ratio and the net realizable value adopted; understanding and testing the internal controls established by management with respect to the valuation of inventories, including the calculation of net realizable value; examining to relevant documentation and recalculating the loss from price decline to ensure inventories appropriately valuated at lower of cost and net realizable value. Vouching samples against related certificates to verify accuracy of inventory aging.

We also assessed the adequacy of disclosures of inventories. Please refer to Notes 4, 5 and 6 to the Company’s financial statements.

Revenue Recognition

Operating revenues recognized by the Company amounted to NT$15,358,706 thousand for the year ended December 31, 2025. Reflecting different market demands, trade terms of different contracts varied, along with the fact that some of the sales orders included delivery services, management needed to review the sales orders or contracts to determine the performance obligations and the time of their satisfaction, there is a significant risk in revenue recognition. Therefore, we considered this a key audit matter.

Our audit procedures included, but not limited to, assessing the appropriateness of the accounting policy of revenue recognition; evaluating and testing the operating effectiveness of internal controls with respect to revenue recognition; selecting samples to perform tests of details and reviewing related transaction certificates and the significant terms and conditions of contracts to verify the accuracy of the timing of performance obligation satisfaction; confirming significant account receivable balance by sending confirmation letters; selecting samples of transactions from either side of balance sheet date, vouching samples against related certificates and reviewing significant subsequent sales return or discounts transactions to ensure revenue was recognized at appropriate timing.

We also assessed the adequacy of disclosures of operating revenues. Please refer to Notes 4 and 6 to the Company’s financial statements.

A member firm of Ernst & Young Global Limited

EY安永

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

Management is responsible for the preparation and fair presentation of the financial statements in accordance with the requirements of the Regulations Governing the Preparation of Financial Reports by Securities Issuers and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Those charged with governance, including audit committee, are responsible for overseeing the financial reporting process of the Company.

Auditors’ Responsibilities for the Audit of the Financial Statements

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

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

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control of the Company.

A member firm of Ernst & Young Global Limited

EY安永

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability to continue as a going concern of the Company. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the accompanying notes, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

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

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of 2025 financial statements and are therefore the key audit matters. We describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

A member firm of Ernst & Young Global Limited

EY安永

Lee, Yu-Ju

Huang, Chien-Che

Ernst & Young, Taiwan

March 9, 2026

Notice to Readers

The accompanying parent company only financial statements are intended only to present the financial position, results of operations 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 audit such parent company only financial statements are those generally accepted and applied in the Republic of China.

Accordingly, the accompanying parent company only financial statements and report of independent accountants are not intended for use by those who are not informed about the accounting principles or Standards on Auditing of the Republic of China, and their applications in practice. As the financial statements are the responsibility of the management, Ernst & Young cannot accept any liability for the use of, or reliance on, the English translation or for any errors or misunderstandings that may derive from the translation.

A member firm of Ernst & Young Global Limited

English Translation of Financial Statements Originally Issued in Chinese

TAIWAN GLASS INDUSTRIAL CORPORATION

PARENT COMPANY ONLY BALANCE SHEETS

December 31, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars)

ASSETS	NOTE	As of December 31,				LIABILITIES AND EQUITY	NOTE	As of December 31,
		2025	%	2024	%			2025	%	2024	%
Current assets						Current liabilities
Cash and cash equivalents	4, 6(1)	$3,091,627	4	$1,891,890	3	Short-term loans	6(11), 7	$3,100,000	4	$1,500,000	2
Notes receivable, net	4, 6(2), 6(18)	145,767	-	148,361	-	Short-term bills payable	6(12)	4,067,909	6	4,069,058	6
Accounts receivable, net	4, 6(3), 6(18), 7, 12(11)	3,509,939	5	1,794,678	3	Current contract liabilities	6(17)	682,522	1	714,960	1
Other receivables, net	4, 6(4), 6(18)	44,346	-	46,048	-	Accounts payable	7	892,435	1	848,904	1
Other receivables- related parties	4, 6(4), 6(18), 7	487,151	1	1,661,597	2	Other payables	7	1,289,428	2	1,003,204	2
Current tax assets	4	7,588	-	4,238	-	Current provisions	4, 6(15)	70,297	-	-	-
Inventories, net	4, 6(5)	3,956,579	5	3,785,377	5	Current lease liabilities	4, 6(20), 7	32,916	-	45,254	-
Prepayments	7	481,649	1	533,260	1	Current portion of long-term loans	6(13), 7	4,593,333	6	8,080,000	11
Other current financial assets	8	8,046	-	4,296	-	Other current liabilities		101,710	-	49,050	-
Total current assets		11,732,692	16	9,869,745	14	Total current liabilities		14,830,550	20	16,310,430	23
Non-current assets						Non-current liabilities
Non-current financial assets at fair value through other comprehensive income	4, 6(6)	447,432	1	440,615	1	Long-term loans	6(13), 7	9,363,333	13	5,820,000	8
Investments accounted for using the equity method	4, 6(7)	42,531,789	59	45,264,876	64	Deferred tax liabilities	4, 6(24)	616,231	1	422,473	1
Property, plant and equipment	4, 6(8), 8	15,602,485	22	14,214,342	20	Non-current lease liabilities	4, 6(20), 7	30,949	-	58,343	-
Right-of-use assets	4, 6(9), 6(20), 7	73,023	-	112,328	-	Deposits-in		2,200	-	2,361	-
Deferred tax assets	4, 6(24)	271,483	-	294,419	-	Total non-current liabilities		10,012,713	14	6,303,177	9
Net defined benefit non-current assets	4, 6(14)	1,561,664	2	619,245	1	Total liabilities		24,843,263	34	22,613,607	32
Other non-current assets	4, 6(10), 6(18)	223,164	-	234,708	-	Capital	6(16)
Total non-current assets		60,711,040	84	61,180,533	86	Common stock		29,080,608	40	29,080,608	41
						Additional paid-in capital	6(16)	1,895,238	3	1,925,218	3
						Retained earnings	6(16)
						Legal reserve		7,383,663	10	7,383,663	10
						Special reserve		5,102,550	7	5,102,550	7
						Unappropriated retained earnings		6,397,921	9	6,352,734	9
						Total retained earnings		18,884,134	26	18,838,947	26
						Other components of equity
						Exchange differences on translation of foreign operations	4	(2,328,987)	(3)	(1,470,761)	(2)
						Unrealized gains and losses on financial assets at fair value through other comprehensive income		69,476	-	62,659	-
						Total other components of equity		(2,259,511)	(3)	(1,408,102)	(2)
						Total equity		47,600,469	66	48,436,671	68
Total assets		$72,443,732	100	$71,050,278	100	Total liabilities and equity		$72,443,732	100	$71,050,278	100

The accompanying notes are an integral part of the parent company only financial statements.

English Translation of Financial Statements Originally Issued in Chinese

TAIWAN GLASS INDUSTRIAL CORPORATION

PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME

For the years ended December 31, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars Except Earnings Per Share Information)

	Note	For the years ended December 31,
		2025		2024
		Amount	%	Amount	%
Operating revenues	4, 6(17), 7	$15,358,706	100	$13,101,893	100
Operating costs	6(5), 6(10), 6(14), 6(15), 6(20), 6(21), 7	(11,743,989)	(76)	(10,563,166)	(81)
Gross profit		3,614,717	24	2,538,727	19
Unrealized intercompany profit (loss)		(20,900)	-	140,110	1
Realized intercompany profit		(140,110)	(1)	(60,908)	-
Net gross profit		3,453,707	23	2,617,929	20
Operating expenses	6(10), 6(14), 6(18), 6(20), 6(21), 7
Selling and marketing expenses		(1,525,035)	(10)	(1,541,332)	(12)
General and administrative expenses		(320,443)	(2)	(301,896)	(2)
Research and development expenses		(87,218)	(1)	(57,598)	-
Expected credit losses	6(18)	(4,839)	-	(7,446)	-
Subtotal		(1,937,535)	(13)	(1,908,272)	(14)
Net amount of other revenues and gains and expenses and losses	6(19), 7	3,221	-	(1,139)	-
Operating income		1,519,393	10	708,518	6
Non-operating income and expenses
Interest income	6(22)	65,147	-	20,284	-
Other income	6(22), 7	172,117	1	171,804	1
Other gains and losses	6(22)	(124,428)	(1)	(29,524)	-
Finance costs	4, 6(22), 7	(473,117)	(3)	(496,820)	(4)
Share of (loss) income of subsidiaries, associates and joint ventures for under equity method	4	(1,685,832)	(11)	(1,906,368)	(15)
Subtotal		(2,046,113)	(14)	(2,240,624)	(18)
(Loss) from continuing operations before income tax		(526,720)	(4)	(1,532,106)	(12)
Income tax (expense) benefit	4, 6(24)	(63,609)	-	(39,456)	-
Net (loss) from continuing operations		(590,329)	(4)	(1,571,562)	(12)
Other comprehensive income	4, 6(23)
Other comprehensive income that will not be reclassified subsequently:
Remeasurement of defined benefit obligation		794,297	5	(8,490)	-
Unrealized gains on equity instruments investments at fair value through other comprehensive income		6,817	-	101,062	1
Share of other comprehensive income of subsidiaries, associates and joint ventures for under equity method		78	-	783	-
Income tax related to components of other comprehensive income that will not be reclassified subsequently		(158,859)	(1)	1,698	-
Other comprehensive income that will be reclassified subsequently:
Share of other comprehensive gains (losses) of subsidiaries, associates and joint ventures for under equity method		(861,274)	(5)	2,358,123	18
Income tax related to components of other comprehensive income that will be reclassified subsequently		-	-	-	-
Total other comprehensive (loss) income, net of tax		(218,941)	(1)	2,453,176	19
Total comprehensive (loss) income		$(809,270)	(5)	$881,614	7
Earnings per share (NTS)	6(25)
Earnings per share-basic		$(0.20)		$(0.54)
Diluted earnings per share

The accompanying notes are an integral part of the parent company only financial statements.

English Translation of Financial Statements Originally Issued in Chinese

TAIWAN GLASS INDUSTRIAL CORPORATION

PARENT COMPANY ONLY STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

For the years ended December 31, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars)

	Capital	Capital Surplus	Legal Reserve	Special Reserve	Unappropriated Retained Earnings	Exchange Differences on Translation of Foreign Operations	Unrealized Gains and Losses on Financial Assets at Fair Value through Other Comprehensive Income	Total Equity
Balance as of January 1, 2024	$29,080,608	$1,925,218	$7,383,663	$5,102,550	$7,930,305	$(3,828,884)	$(38,403)	$47,555,057
Net (loss) in 2024					(1,571,562)			(1,571,562)
Other comprehensive income, net of tax in 2024					(6,009)	2,358,123	101,062	2,453,176
Total comprehensive income	-	-	-	-	(1,577,571)	2,358,123	101,062	881,614
Balance as of December 31, 2024	$29,080,608	$1,925,218	$7,383,663	$5,102,550	$6,352,734	$(1,470,761)	$62,659	$48,436,671
Balance as of January 1, 2025	$29,080,608	$1,925,218	$7,383,663	$5,102,550	$6,352,734	$(1,470,761)	$62,659	$48,436,671
Net (loss) in 2025					(590,329)			(590,329)
Other comprehensive loss, net of tax in 2025					635,516	(861,274)	6,817	(218,941)
Total comprehensive loss	-	-	-	-	45,187	(861,274)	6,817	(809,270)
Difference between consideration and carrying amount of subsidiaries acquired or disposed		(29,980)				3,048		(26,932)
Balance as of December 31, 2025	$29,080,608	$1,895,238	$7,383,663	$5,102,550	$6,397,921	$(2,328,987)	$69,476	$47,600,469

The accompanying notes are an integral part of the parent company only financial statements.

English Translation of Financial Statements Originally Issued in Chinese
TAIWAN GLASS INDUSTRIAL CORPORATION
PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS
For the years ended December 31, 2025 and 2024
(Expressed in Thousands of New Taiwan Dollars)

	For the years ended December 31,
	2025	2024
Cash flows from operating activities:
(Loss) before income tax	$(526,720)	$(1,532,106)
Adjustments:
Depreciation	1,640,031	1,287,401
Amortization	1,717	3,492
Expected credit losses	4,839	7,446
Interest expense	473,117	496,820
Interest income	(65,147)	(20,284)
Dividend income	(19,748)	(12,173)
Share of loss of subsidiaries, associates and joint ventures	1,685,832	1,906,368
(Gains) losses on disposal of property, plant and equipment	(3,221)	1,139
(Gains) on disposal of non-current assets classified as held for sale	(129,242)	-
Unrealized intercompany profit (loss)	20,900	(140,110)
Realized intercompany loss (profit)	140,110	60,908
Changes in assets and liabilities:
Notes receivable	2,594	46,722
Accounts receivable	(1,720,100)	(200,845)
Other receivables	(34,928)	5,995
Inventories	(171,202)	139,825
Prepayments	51,611	(33,946)
Other current assets	(3,750)	(2,317)
Contract liabilities	(32,438)	288,601
Accounts payable	43,531	263,111
Other payable	86,378	133,604
Provisions	70,297	-
Advanced receipts	-	(618)
Other current liabilities	52,660	12,747
Net defined benefit liability	(148,122)	(134,450)
Cash inflow generated from operations	1,418,999	2,577,330
Interests received	65,147	20,284
Dividends received	19,748	12,173
Interests paid	(472,384)	(489,863)
Income tax (paid) refund	(9,124)	8,599
Net cash flows provided by operating activities	1,022,386	2,128,523
Cash flows from investing activities:
Proceeds from capital reduction of investments accounted for using equity method	1,235,047	944,962
Proceeds from disposal of non-current assets held for sale	135,220	-
Acquisition of property, plant classified as and equipment, excluding capitalized borrowing cost	(2,821,894)	(1,509,598)
Capitalized borrowing costs from self-constructed assets	(28,681)	(11,691)
Proceeds from disposal of property, plant and equipment	13,025	465
Increase in refundable deposits	-	(60,375)
Decrease in refundable deposits	63,160	-
Increase in other receivables due from related parties	(23,971)	-
Acquisition of intangible assets	(3,490)	(3,594)
Net cash flows (used in) investing activities	(1,431,584)	(639,831)
Cash flows from financing activities:
Increase in short-term loans	10,700,000	6,650,000
Decrease in short-term loans	(9,100,000)	(7,100,000)
Increase in short-term bills payable	17,520,000	16,320,000
Decrease in short-term bills payable	(17,520,000)	(16,320,000)
Proceeds from long-term loans	8,536,666	4,700,000
Repayments of long-term loans	(8,480,000)	(5,081,970)
Decrease in deposits-in	(161)	(733)
Payments of lease liabilities	(47,314)	(47,910)
Cash dividends paid	(256)	(1,981)
Net cash flows provided by (used in) financing activities	1,608,935	(882,594)
Net increase in cash and cash equivalents	1,199,737	606,098
Cash and cash equivalents at the beginning of the year	1,891,890	1,285,792
Cash and cash equivalents at the end of the year	$3,091,627	$1,891,890

The accompanying notes are an integral part of the parent company only financial statements.

English Translation of Financial Statements Originally Issued in Chinese TAIWAN GLASS INDUSTRIAL CORPORATION NOTES TO PARENT COMPANY ONLY FINANCIAL STATEMENTS For the Years Ended December 31, 2025 and 2024 (Expressed in Thousands of New Taiwan Dollars unless Otherwise Specified)

History and organization

Taiwan Glass Industrial Corporation (“the Company”) was incorporated on 5 September 1964 and commenced operations in 1967. The main activities of the Company are manufacturing, processing and selling of various glass products. The Company’s common shares were publicly listed on the Taiwan Stock Exchange (TWSE) in July 1973. The Company’s registered office and the main business location is at 11F, No. 261, Section 3, Nanjing E. Rd., Taipei, Republic of China (R.O.C.).

Date and procedures of authorization of financial statements for issue

The parent company only financial statements of the Company for the years ended December 31, 2025 and 2024 were authorized for issue by the Board of Directors on March 9, 2026.

Newly issued or revised standards and interpretations

(1) Changes in accounting policies resulting from applying for the first time certain standards and amendments

The Company applied for the first time International Financial Reporting Standards, International Accounting Standards, and Interpretations issued, revised or amended which are recognized by Financial Supervisory Commission (“FSC”) and become effective for annual periods beginning on or after January 1, 2025. The adoption of these new standards and amendments had no material impact on the Company.

(2) Standards or interpretations issued, revised or amended, by International Accounting Standards Board (“IASB”) which have been endorsed by FSC, and not yet adopted by the Company as at the end of the reporting period are listed below.

Items	New, Revised or Amended Standards and Interpretations	Effective Date issued by IASB
a	IFRS 17 Insurance Contracts	January 1,2023
b	Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)	January 1,2026
c	Annual Improvements to IFRS Accounting Standards — Volume 11	January 1,2026
d	Contracts Referencing Nature-dependent Electricity — Amendments to IFRS 9 and IFRS 7	January 1,2026

(a) IFRS 17 “Insurance Contracts”

IFRS 17 provides a comprehensive model for insurance contracts, covering all relevant accounting aspects (including recognition, measurement, presentation and disclosure requirements). The core of IFRS 17 is the General (building block) Model, under this model, on initial recognition, an entity shall measure a group of insurance contracts at the total of the fulfilment cash flows and the contractual service margin. The carrying amount of a group of insurance contracts at the end of each reporting period shall be the sum of the liability for remaining coverage and the liability for incurred claims.

Other than the General Model, the standard also provides a specific adaptation for contracts with direct participation features (the Variable Fee Approach) and a simplified approach (Premium Allocation Approach) mainly for short-duration contracts.

IFRS 17 was issued in May 2017 and it was amended in 2020 and 2021. The amendments include deferral of the date of initial application of IFRS 17 by two years to annual beginning on or after January 1, 2023 (from the original effective date of January 1, 2021); provide additional transition reliefs; simplify some requirements to reduce the costs of applying IFRS 17 and revise some requirements to make the results easier to explain. IFRS 17 replaces an interim Standard – IFRS 4 Insurance Contracts – from annual reporting periods beginning on or after January 1, 2023.

(b) Amendments to the Classification and Measurement of Financial Instruments – Amendments to IFRS 9 and IFRS 7

The amendments include:

(1) Clarify that a financial liability is derecognised on the settlement date and describe the accounting treatment for settlement of financial liabilities using an electronic payment system before the settlement date.
(2) Clarify how to assess the contractual cash flow characteristics of financial assets that include environmental, social and governance (ESG)-linked features and other similar contingent features.
(3) Clarify the treatment of non-recourse assets and contractually linked instruments.
(4) Require additional disclosures in IFRS 7 for financial assets and liabilities with contractual terms that reference a contingent event (including those that are ESG-linked), and equity instruments classified at fair value through other comprehensive income.

(1) Amendments to IFRS 1
(2) Amendments to IFRS 7
(3) Amendments to Guidance on implementing IFRS 7
(4) Amendments to IFRS 9
(5) Amendments to IFRS 10
(6) Amendments to IAS 7

(d) Contracts Referencing Nature-dependent Electricity – Amendments to IFRS 9 and IFRS 7

The amendments include:

(1) Clarify the application of the ‘own-use’ requirements.
(2) Permit hedge accounting if these contracts are used as hedging instruments.
(3) Add new disclosure requirements to enable investors to understand the effect of these contracts on a company’s financial performance and cash flows.

The abovementioned standards and amendments are applicable for annual periods beginning on or after January 1, 2026 and have no material impact on the Company.

(3) Standards or interpretations issued, revised or amended, by IASB which have not been endorsed by FSC, and not yet adopted by the Company as at the end of the reporting period are listed below.

Items	New, Revised or Amended Standards and Interpretations	Effective Date issued by IASB
a	IFRS 10 “Consolidated Financial Statements” and IAS 28 “Investments in Associates and Joint Ventures” — Sale or Contribution of Assets between an Investor and its Associate or Joint Ventures	To be determined by IASB
b	IFRS 18 “Presentation and Disclosure in Financial Statements”	January 1, 2027(Note)
c	Disclosure Initiative – Subsidiaries without Public Accountability: Disclosures (IFRS 19)	January 1, 2027
d	Translation to a Hyperinflationary Presentation Currency — Amendments to IAS 21 and IAS 29	January 1, 2027

Note: On September 25, 2025, the Financial Supervisory Commission (FSC) issued a press release announcing that Taiwan will adopt IFRS 18 starting in 2028.

(a) IFRS 10 “Consolidated Financial Statements” and IAS 28 “Investments in Associates and Joint Ventures” — Sale or Contribution of Assets between an Investor and its Associate or Joint Ventures

The amendments address the inconsistency between the requirements in IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures, in dealing with the loss of control of a subsidiary that is contributed to an associate or a joint venture. IAS 28 restricts gains and losses arising from contributions of non-monetary assets to an associate or a joint venture to the extent of the interest attributable to the other equity holders in the associate or joint ventures. IFRS 10 requires full profit or loss recognition on the loss of control of the subsidiary. IAS 28 was amended so that the gain or loss resulting from the sale or contribution of assets that constitute a business as defined in IFRS 3 between an investor and its associate or joint venture is recognized in full.

IFRS 10 was also amended so that the gains or loss resulting from the sale or contribution of a subsidiary that does not constitute a business as defined in IFRS 3 between an investor and its associate or joint venture is recognized only to the extent of the unrelated investors’ interests in the associate or joint venture.

(b) IFRS 18 “Presentation and Disclosure in Financial Statements”

IFRS 18 replaces IAS 1 Presentation of Financial Statements. The main changes are as below:

(1) Improved comparability in the statement of profit or loss (income statement)
IFRS 18 requires entities to classify all income and expenses within their statement of profit or loss into one of five categories: operating; investing; financing; income taxes; and discontinued operations. The first three categories are new, to improve the structure of the income statement, and requires all entities to provide new defined subtotals, including operating profit or loss. The improved structure and new subtotals will give investors a consistent starting point for analyzing entities’ performance and make it easier to compare entities.

(2) Enhanced transparency of management-defined performance measures IFRS 18 requires entities to disclose explanations of those entity-specific measures that are related to the income statement, referred to as management-defined performance measures.

(3) Useful grouping of information in the financial statements
IFRS 18 sets out enhanced guidance on how to organize information and whether to provide it in the primary financial statements or in the notes. The changes are expected to provide more detailed and useful information. IFRS 18 also requires entities to provide more transparency about operating expenses, helping investors to find and understand the information they need.

This standard permits subsidiaries without public accountability to provide reduced disclosures when applying IFRS Accounting Standards in their financial statements. IFRS 19 is optional for subsidiaries that are eligible and sets out the disclosure requirements for subsidiaries that elect to apply it.

(d) Translation to a Hyperinflationary Presentation Currency — Amendments to IAS 21 and IAS 29

The amendments include the following:

(1) Clarifying that when an entity’s functional currency is not that of a hyperinflationary economy but its financial statements are translated into a presentation currency of a hyperinflationary economy, the entity’s operating results and financial position shall be translated using the closing rate at the end of the most recent reporting period.

(2) Clarifying that in such circumstances, when the presentation currency subsequently ceases to be that of a hyperinflationary economy, the entity shall not retranslate prior-period amounts.

(3) When both the functional currency and the presentation currency are those of hyperinflationary economies, the entity shall apply the requirements of paragraph 34 of IAS 29 Financial Reporting in Hyperinflationary Economies.

The above Standards and Interpretations have been issued by the IASB but have not yet been endorsed by the Financial Supervisory Commission (“FSC”). Their actual effective dates will be subject to FSC approval. Except for the newly issued or amended Standards or Interpretations under item (2), for which the Company is currently assessing the potential impacts and is not yet able to reasonably estimate their effects, the Company expects that the remaining newly issued or amended Standards or Interpretations will have no material impact on its financial statements.

Summary of material accounting policies

(1) Statement of compliance

The parent company only financial statements of the Company for the years ended December 31, 2025 and 2024 have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers (“the Regulations”).

(2) Basis of preparation

The Company prepared parent company only financial statements in accordance with Article 21 of the Regulations, which provided that the profit or loss and other comprehensive income for the period presented in the parent company only financial statements shall be the same as the profit or loss and other comprehensive income attributable to stockholders of the parent presented in the consolidated financial statements for the period, and the total equity presented in the parent company only financial statements shall be the same as the equity attributable to the parent company presented in the consolidated financial statements. Therefore, the Company accounted for its investments in subsidiaries using equity method and, accordingly, made necessary adjustments.

The parent company only financial statements have been prepared on a historical cost basis, except for financial instruments that have been measured at fair value.

The only financial statements are expressed in thousands of New Taiwan Dollars ("NT$") unless otherwise stated.

(3) Foreign currency transactions

The Company’s parent company only financial statements are presented in NT dollars, which is also the Company’s functional currency.

Transactions in foreign currencies are initially recorded by the Company at its respective functional currency rates prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the functional currency closing rate of exchange ruling at the reporting date. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. Non-monetary items that are measured at historical cost in a foreign currency are translated using the exchange rates as at the dates of the initial transactions.

All exchange differences arising on the settlement of monetary items or on translating monetary items are taken to profit or loss in the period in which they arise except for the following:

A. Exchange differences arising from foreign currency borrowings for an acquisition of a qualifying asset to the extent that they are regarded as an adjustment to interest costs are included in the borrowing costs that are eligible for capitalization.

B. Foreign currency items within the scope of IFRS 9 Financial Instruments are accounted for based on the accounting policy for financial instruments.

C. Exchange differences arising on a monetary item that forms part of a reporting entity’s net investment in a foreign operation is recognized initially in other comprehensive income and reclassified from equity to profit or loss on disposal of the net investment.

When a gain or loss on a non-monetary item is recognized in other comprehensive income, any exchange component of that gain or loss is recognized in other comprehensive income. When a gain or loss on a non-monetary item is recognized in profit or loss, any exchange component of that gain or loss is recognized in profit or loss.

(4) Translation of financial statements in foreign currency

Each foreign operations of the Company determines its own functional currency and items included in the financial statements of each foreign operations are measured using that functional currency. The assets and liabilities of foreign operations are translated into NT$ at the closing rate of exchange prevailing at the reporting date and their income and expenses are translated at an average rate for the period. The exchange differences arising on the translation are recognized in other comprehensive income. On the disposal of a foreign operation, the cumulative amount of the exchange differences relating to that foreign operation, recognized in other comprehensive income and accumulated in the separate component of equity, is reclassified from equity to profit or loss when the gain or loss on disposal is recognized. The following are accounted for as disposals even if an interest in the foreign operation is retained by the Company: the loss of control over a foreign operation, the loss of significant influence over a foreign operation, or the loss of joint control over a foreign operation.

On the partial disposal of a subsidiary that includes a foreign operation that does not result in a loss of control, the proportionate share of the cumulative amount of the exchange differences recognized in other comprehensive income is re-attributed to the non-controlling interests in that foreign operation. In partial disposal of an associate or joint arrangement that includes a foreign operation that does not result in a loss of significant influence or joint control, only the proportionate share of the cumulative amount of the exchange differences recognized in other comprehensive income is reclassified to profit or loss.

(5) Current and non-current distinction

An asset is classified as current when:

A. The Company expects to realize the asset, or intends to sell or consume it, in its normal operating cycle
B. The Company holds the asset primarily for the purpose of trading
C. The Company expects to realize the asset within twelve months after the reporting period
D. The asset is cash or cash equivalent unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

All other assets are classified as non-current.

A liability is classified as current when:

A. The Company expects to settle the liability in its normal operating cycle
B. The Company holds the liability primarily for the purpose of trading
C. The liability is due to be settled within twelve months after the reporting period
D. The Company does not have the right at the end of the reporting period to defer settlement of the liability for at least twelve months after the reporting period.

All other liabilities are classified as non-current.

(6) Cash and cash equivalents

Cash and cash equivalents comprises cash on hand, demand deposits and short-term, highly liquid investments that are readily convertible to known amounts of cash and subject to an insignificant risk of changes in value.

(7) Financial instruments

Financial assets and financial liabilities are recognized when the Company becomes a party to the contractual provisions of the instrument.

Financial assets and financial liabilities within the scope of IFRS 9 Financial Instruments are recognized initially at fair value plus or minus, in the case of a financial asset or financial liability not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition or issue of the financial assets or financial liabilities.

A. Financial instruments: Recognition and Measurement

The Company accounts for regular way purchase or sales of financial assets on the trade date.

The Company classified financial assets as subsequently measured at amortized cost, fair value through other comprehensive income or fair value through profit or loss considering both factors below:

a. the Company’s business model for managing the financial assets and
b. the contractual cash flow characteristics of the financial asset.

Financial asset measured at amortized cost

A financial asset is measured at amortized cost if both of the following conditions are met and presented as note receivables, accounts receivables, financial assets measured at amortized cost and other receivables etc., on balance sheet as at the reporting date:

a. the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and
b. the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Such financial assets are subsequently measured at amortized cost (the amount at which the financial asset is measured at initial recognition minus the principal repayments, plus or minus the cumulative amortization using the effective interest method of any difference between the initial amount and the maturity amount and adjusted for any loss allowance) and is not part of a hedging relationship. A gain or loss is recognized in profit or loss when the financial asset is derecognized, through the amortization process or in order to recognize the impairment gains or losses.

Interest revenue is calculated by using the effective interest method. This is calculated by applying the effective interest rate to the gross carrying amount of a financial asset except for:

a. purchased or originated credit-impaired financial assets. For those financial assets, the Company applies the credit-adjusted effective interest rate to the amortized cost of the financial asset from initial recognition.

b. financial assets that are not purchased or originated credit-impaired financial assets but subsequently have become credit-impaired financial assets. For those financial assets, the Company applies the effective interest rate to the amortized cost of the financial asset in subsequent reporting periods.

Financial asset measured at fair value through other comprehensive income

A financial asset is measured at fair value through other comprehensive income if both of the following conditions are met:

a. the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and

b. the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Recognition of gain or loss on a financial asset measured at fair value through other comprehensive income are described as below:

a. A gain or loss on a financial asset measured at fair value through other comprehensive income recognized in other comprehensive income, except for impairment gains or losses and foreign exchange gains and losses, until the financial asset is derecognized or reclassified.

b. When the financial asset is derecognized the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss as a reclassification adjustment.

c. Interest revenue is calculated by using the effective interest method. This is calculated by applying the effective interest rate to the gross carrying amount of a financial asset except for:

(a) Purchased or originated credit-impaired financial assets. For those financial assets, the Company applies the credit-adjusted effective interest rate to the amortized cost of the financial asset from initial recognition.

(b) Financial assets that are not purchased or originated credit-impaired financial assets but subsequently have become credit-impaired financial assets. For those financial assets, the Company applies the effective interest rate to the amortized cost of the financial asset in subsequent reporting periods.

Besides, for certain equity investments within the scope of IFRS 9 that is neither held for trading nor contingent consideration recognized by an acquirer in a business combination to which IFRS 3 applies, the Company made an irrevocable election to present the changes of the fair value in other comprehensive income at initial recognition. Amounts presented in other comprehensive income shall not be subsequently transferred to profit or loss (when disposal of such equity instrument, its cumulated amount included in other components of equity is transferred directly to the retained earnings) and these investments should be presented as financial assets measured at fair value through other comprehensive income on the balance sheet. Dividends on such investment are recognized in profit or loss unless the dividends clearly represents a recovery of part of the cost of investment.

Financial asset measured at fair value through profit or loss

Financial assets were classified as measured at amortized cost or measured at fair value through other comprehensive income based on aforementioned criteria. All other financial assets were measured at fair value through profit or loss and presented on the balance sheet as financial assets measured at fair value through profit or loss.

Such financial assets are measured at fair value, the gains or losses resulting from remeasurement is recognized in profit or loss which includes any dividend or interest received on such financial assets.

B. Impairment of financial assets

The Company recognizes a loss allowance for expected credit losses on debt instrument investments measured at fair value through other comprehensive income and financial asset measured at amortized cost. The loss allowance on debt instrument investments measured at fair value through other comprehensive income is recognized in other comprehensive income and not reduce the carrying amount in the balance sheet.

The Company measures expected credit losses of a financial instrument in a way that reflects:

a. an unbiased and probability-weighted amount that is determined by evaluating a range of possible outcomes;

b. the time value of money; and
c. reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic conditions.

The loss allowance is measured as follows:

a. At an amount equal to 12-month expected credit losses: the credit risk on a financial asset has not increased significantly since initial recognition or the financial asset is determined to have low credit risk at the reporting date. In addition, the Company measures the loss allowance at an amount equal to lifetime expected credit losses in the previous reporting period, but determines at the current reporting date that the credit risk on a financial asset has increased significantly since initial recognition is no longer met.
b. At an amount equal to the lifetime expected credit losses: the credit risk on a financial asset has increased significantly since initial recognition or financial asset that is purchased or originated credit-impaired financial asset.
c. For accounts receivables or contract assets arising from transactions within the scope of IFRS 15, the Company measures the loss allowance at an amount equal to lifetime expected credit losses.
d. For lease receivables arising from transactions within the scope of IFRS 16, the Company measures the loss allowance at an amount equal to lifetime expected credit losses.

At each reporting date, the Company needs to assess whether the credit risk on a financial asset has increased significantly since initial recognition by comparing the risk of a default occurring at the reporting date and the risk of default occurring at initial recognition. Please refer to Note 12 for further details on credit risk.

C. Derecognition of financial assets

A financial asset is derecognized when:

a. The rights to receive cash flows from the asset have expired
b. The Company has transferred the asset and substantially all the risks and rewards of the asset have been transferred
c. The Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

On derecognition of a financial asset in its entirety, the difference between the carrying amount and the consideration received or receivable including any cumulative gain or loss that had been recognized in other comprehensive income, is recognized in profit or loss.

D. Financial liabilities and equity

Classification between liabilities or equity

The Company classifies the instrument issued as a financial liability or an equity instrument in accordance with the substance of the contractual arrangement and the definitions of a financial liability, and an equity instrument.

Equity instruments

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. The transaction costs of an equity transaction are accounted for as a deduction from equity (net of any related income tax benefit) to the extent they are incremental costs directly attributable to the equity transaction that otherwise would have been avoided.

Financial liabilities

Financial liabilities within the scope of IFRS 9 Financial Instruments are classified as financial liabilities at fair value through profit or loss or financial liabilities measured at amortized cost upon initial recognition.

Financial liabilities at amortized cost

Financial liabilities measured at amortized cost include interest bearing loans and borrowings that are subsequently measured using the effective interest rate method after initial recognition. Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as through the effective interest rate method amortization process.

Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or transaction costs.

Derecognition of financial liabilities

A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires.

When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified (whether or not attributable to the financial difficulty of the debtor), such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts and the consideration paid or payable, including any non-cash assets transferred or liabilities assumed, is recognized in profit or loss.

E. Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount reported in the balance sheet if, and only if, there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, or to realize the assets and settle the liabilities simultaneously.

(8) Fair value measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

A. In the principal market for the asset or liability, or
B. In the absence of a principal market, in the most advantageous market for the asset or liability

The principal or the most advantageous market must be accessible to by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

(9) Inventories

Inventories are valued at lower of cost and net realizable value item by item.

Costs incurred in bringing each inventory to its present location and conditions are accounted for as follows:

Raw materials – Purchase cost on a weighted average cost basis.

Finished goods and work in progress – Cost of direct materials and labor and a proportion of manufacturing overheads based on normal operating capacity but excluding borrowing costs.

Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale.

(10) Investments accounted for using the equity method

The Company accounted for its investments in subsidiaries using equity method and made necessary adjustments in accordance with Article 21 of the Regulations. Such adjustments were made after the Company considered the different accounting treatments to account for its investments in subsidiaries in the consolidated financial statements under IFRS 10 "Consolidated and Separate Financial Statements" and the different IFRSs adopted from different reporting entity's perspectives, and the Company recorded such adjustments by crediting or debiting to investments accounted for under the equity method, share of profit or loss of subsidiaries, associates and joint ventures and share of other comprehensive income of subsidiaries, associates and joint ventures.

The Company's investment in its associate is accounted for using the equity method other than those that meet the criteria to be classified as held for sale. An associate is an entity over which the Company has significant influence. A joint venture is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint venture.

Under the equity method, the investment in the associate or a joint venture is carried in the balance sheet at cost and adjusted thereafter for the post-acquisition change in the Company's share of net assets of the associate or a joint venture. After the interest in the associate or a joint venture is reduced to zero, additional losses are provided for, and a liability is recognized, only to the extent that the Company has incurred legal or constructive obligations or made payments on behalf of the associate or a joint venture. Unrealized gains and losses resulting from transactions between the Company and the associate or joint venture are eliminated to the extent of the Company's related interest in the associate or joint venture.

When changes in the net assets of an associate or a joint venture occur and not those that are recognized in profit or loss or other comprehensive income and do not affect the Company’s percentage of ownership interests in the associate or joint venture, the Company recognizes such changes in equity based on its percentage of ownership interests. The resulting capital surplus recognized will be reclassified to profit or loss at the time of disposing the associate or joint venture on a prorate basis.

When the associate or joint venture issues new stock, and the Company’s interest in an associate or a joint venture is reduced or increased as the Company fails to acquire shares newly issued in the associate or joint venture proportionately to its original ownership interest, the increase or decrease in the interest in the associate or joint venture is recognized in additional paid in capital and investment accounted for using the equity method. When the interest in the associate or joint venture is reduced, the cumulative amounts previously recognized in other comprehensive income are reclassified to profit or loss or other appropriate items. The aforementioned capital surplus recognized is reclassified to profit or loss on a pro rata basis when the Company disposes of the associate or joint venture.

The financial statements of the associate or a joint venture are prepared for the same reporting period as the Company. Where necessary, adjustments are made to bring the accounting policies in line with those of the Company.

The Company determines at each reporting date whether there is any objective evidence that the investment in the associate or an investment in a joint venture is impaired in accordance with IAS 28 Investments in Associates and Joint Ventures. If this is the case the Company calculates the amount of impairment as the difference between the recoverable amount of the associate or a joint venture and its carrying value and recognizes the amount in the ‘share of profit or loss of an associate’ in the statement of comprehensive income in accordance with IAS 36 Impairment of Assets. In determining the value in use of the investment, the Company estimates:

A. The Company’s right on the estimated future cash flow from its associate or a joint venture includes associate or a joint venture’s cash flow from operation and the capital gain on the final settlement, or
B. The Company’s expected present value of the dividend from the investment and the capital gain on the final settlement.

Upon loss of significant influence over the associate or joint venture, the Company measures and recognizes any retaining investment at its fair value. Any difference between the carrying amount of the associate or joint venture upon loss of significant influence and the fair value of the retaining investment and proceeds from disposal is recognized in profit or loss. Furthermore, if an investment in an associate becomes an investment in a joint venture or an investment in a joint venture becomes an investment in an associate, the entity continues to apply the equity method and does not remeasure the retained interest.

(11) Property, plant and equipment

Property, plant and equipment is stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Such cost includes the cost of dismantling and removing the item and restoring the site on which it is located and borrowing costs for construction in progress if the recognition criteria are met. Each part of an item of property, plant and equipment with a cost that is significant in relation to the total cost of the item is depreciated separately. When significant parts of property, plant and equipment are required to be replaced in intervals, the Company recognized such parts as individual assets with specific useful lives and depreciation, respectively. The carrying amount of those parts that are replaced is derecognized in accordance with the derecognition provisions of IAS 16 Property, plant and equipment. When a major inspection is performed, its cost is recognized in the carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. All other repair and maintenance costs are recognized in profit or loss as incurred.

Depreciation is calculated on a straight-line method basis over the estimated economic lives of the following assets:

Buildings	5~55 years
Machinery and equipment	1~20 years
Transportation equipment	5~10 years
Leasehold improvements	5 years
Office equipment	3~20 years

An item of property, plant and equipment and any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset is recognized in profit or loss.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

(12) Leases

The Company assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset for a period of time, the Company assesses whether, throughout the period of use, has both of the following:

A. the right to obtain substantially all of the economic benefits from use of the identified asset; and
B. the right to direct the use of the identified asset.

For a contract that is, or contains, a lease, the Company accounts for each lease component within the contract as a lease separately from non-lease components of the contract. For a contract that contains a lease component and one or more additional lease or non-lease components, the Company allocates the consideration in the contract to each lease component on the basis of the relative stand-alone price of the lease component and the aggregate stand-alone price of the non-lease components. The relative stand-alone price of lease and non-lease components shall be determined on the basis of the price the lessor, or a similar supplier, would charge the Company for that component, or a similar component, separately. If an observable stand-alone price is not readily available, the Company estimates the stand-alone price, maximising the use of observable information.

Company as a lessee

Except for leases that meet and elect short-term leases or leases of low-value assets, the Company recognizes right-of-use asset and lease liability for all leases which the Company is the lessee of those lease contracts.

At the commencement date, the Company measures the lease liability at the present value of the lease payments that are not paid at that date. The lease payments are discounted using the interest rate implicit in the lease, if that rate can be readily determined. If that rate cannot be readily determined, the Company uses its incremental borrowing rate. At the commencement date, the lease payments included in the measurement of the lease liability comprise the following payments for the right to use the underlying asset during the lease term that are not paid at the commencement date:

A. fixed payments (including in-substance fixed payments), less any lease incentives receivable;
B. variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date;
C. amounts expected to be payable by the lessee under residual value guarantees;
D. the exercise price of a purchase option if the Company is reasonably certain to exercise that option; and
E. payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease.

After the commencement date, the Company measures the lease liability on an amortised cost basis, which increases the carrying amount to reflect interest on the lease liability by using an effective interest method; and reduces the carrying amount to reflect the lease payments made.

At the commencement date, the Company measures the right-of-use asset at cost. The cost of the right-of-use asset comprises:

A. the amount of the initial measurement of the lease liability;
B. any lease payments made at or before the commencement date, less any lease incentives received;
C. any initial direct costs incurred by the lessee; and
D. an estimate of costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the site on which it is located or restoring the underlying asset to the condition required by the terms and conditions of the lease.

For subsequent measurement of the right-of-use asset, the Company measures the right-of-use asset at cost less any accumulated depreciation and any accumulated impairment losses. That is, the Company measures the right-of-use applying a cost model.

If the lease transfers ownership of the underlying asset to the Company by the end of the lease term or if the cost of the right-of-use asset reflects that the Company will exercise a purchase option, the Company depreciates the right-of-use asset from the commencement date to the end of the useful life of the underlying asset. Otherwise, the Company depreciates the right-of-use asset from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term.

The Company applies IAS 36 "Impairment of Assets" to determine whether the right-of-use asset is impaired and to account for any impairment loss identified.

Except for those leases that the Company accounted for as short-term leases or leases of low-value assets, the Company presents right-of-use assets and lease liabilities in the balance sheet and separately presents lease-related interest expense and depreciation charge in the statements comprehensive income.

For short-term leases or leases of low-value assets, the Company elects to recognize the lease payments associated with those leases as an expense on either a straight-line basis over the lease term or another systematic basis.

Company as a lessor

At inception of a contract, the Company classifies each of its leases as either an operating lease or a finance lease. A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership of an underlying asset. A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset. At the commencement date, the Company recognizes assets held under a finance lease in its balance sheet and present them as a receivable at an amount equal to the net investment in the lease.

For a contract that contains lease components and non-lease components, the Company allocates the consideration in the contract applying IFRS 15.

The Company recognizes lease payments from operating leases as rental income on either a straight-line basis or another systematic basis. Variable lease payments for operating leases that do not depend on an index or a rate are recognized as rental income when incurred.

(13) Intangible assets

Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is its fair value as at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses, if any. Internally generated intangible assets, excluding capitalized development costs, are not capitalized and expenditure is reflected in profit or loss for the year in which the expenditure is incurred.

Intangible assets are all finite.

Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each financial year. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset is accounted for by changing the amortization period or method, as appropriate, and are treated as changes in accounting estimates.

Gains or losses arising from derecognition of an intangible asset are recognized in profit or loss.

Accounting policies information applied to the Company’s intangible assets is as follows:

	Computer software
Useful lives	Finite
Amortization method used	Amortized on a straight-line basis over the estimated useful life
Internally generated or acquired	Acquired

(14) Impairment of non-financial assets

The Company assesses at the end of each reporting period whether there is any indication that an asset in the scope of IAS 36 Impairment of Assets may be impaired. If any such indication exists, or when annual impairment testing for an asset is required, the Company estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or cash-generating unit’s (“CGU”) fair value less costs to sell and its value in use and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.

For assets excluding goodwill, an assessment is made at each reporting date as to whether there is any indication that previously recognized impairment losses may no longer exist or may have decreased. If such indication exists, the Company estimates the asset’s or cash-generating unit’s recoverable amount. A previously recognized impairment loss is reversed only if there has been an increase in the estimated service potential of an asset which in turn increases the recoverable amount. However, the reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years.

An impairment loss of continuing operations or a reversal of such impairment loss is recognized in profit or loss.

(15) Provisions

Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Where the Group expects some or all of a provision to be reimbursed, the reimbursement is recognized as a separate asset but only when the reimbursement is virtually certain. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost.

The liability to pay a levy is recognized progressively if the obligating event occurs over a period of time.

(16) Revenue recognition

The Company’s revenue arising from contracts with customers are primarily related to sale of goods and rendering of services. The accounting policies are explained as follows:

Sale of goods

The Company manufactures and sells goods. Sales are recognized when control of the goods is transferred to the customer and the goods are delivered to the customers (i.e. when the customer has the ability to direct the use of, and obtain substantially all of the remaining benefits from the goods). The main product of the Company is glass (flat glass, glass fiber, and glass container) and revenue is recognized based on the consideration stated in the contract. For certain sales of goods transactions, they are usually accompanied by volume discounts (based on the accumulated total sales amount for a specified period). Therefore, revenue from these sales is recognized based on the price specified in the contract, net of the estimated volume discounts. The Company estimates the discounts using the expected value method based on historical experiences. Revenue is only recognized to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur and when the uncertainty associated with the variable consideration is subsequently resolved. During the period specified in the contract, refund liability is recognized for the expected volume discounts.

The credit period of the Company’s sale of goods is generally from 30 to 180 days. For most of the contracts, when the Company transfers the goods to customers and has a right to an amount of consideration that is unconditional, these contracts are recognized as accounts receivables. The Company usually collects the payments shortly after transfer of goods to customers; therefore, there is no significant financing component to the contract. For other services contracts, part of the consideration was received from customers upon signing the contract, and the Company has the obligation to provide the services subsequently; accordingly, these amounts are recognized as advance receipts or temporary receipts.

The period between the transfers of contract liabilities to revenue is usually within one year, thus, no significant financing component arose.

(17) Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the respective assets. All other borrowing costs are expensed in the period they occur. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds.

(18) Post-employment benefits

All regular employees of the Company are entitled to a pension plan that is managed by an independently administered pension fund committee. Fund assets are deposited under the committee’s name in the specific bank account and hence, not associated with the Company. Therefore, fund assets are not included in the Company’s parent company only financial statements.

For the defined contribution plan, the Company will make a monthly contribution of no less than 6% of the monthly wages of the employees subject to the plan. The Company recognizes expenses for the defined contribution plan in the period in which the contribution becomes due.

Post-employment benefit plan that is classified as a defined benefit plan uses the Projected Unit Credit Method to measure its obligations and costs based on actuarial assumptions. Re-measurements, comprising of the effect of the actuarial gains and losses, the effect of the asset ceiling (excluding net interest) and the return on plan assets, excluding net interest, are recognized as other comprehensive income with a corresponding debit or credit to retained earnings in the period in which they occur. Past service costs are recognized in profit or loss on the earlier of:

A. the date of the plan amendment or curtailment, and
B. the date that the Company recognizes restructuring-related costs or termination benefits

Net interest is calculated by applying the discount rate to the net defined benefit liability or asset, both as determined at the start of the annual reporting period, taking account of any changes in the net defined benefit liability (asset) during the period as a result of contribution and benefit payment.

(19) Income taxes

Income tax expense (benefit) is the aggregate amount included in the determination of profit or loss for the period in respect of current tax and deferred tax.

Current income tax

Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities, using the tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period. Current income tax relating to items recognized in other comprehensive income or directly in equity is recognized in other comprehensive income or equity and not in profit or loss.

The income tax on undistributed retained earnings is recognized as income tax expense in the subsequent year when the distribution proposal is approved by the Stockholders' meeting.

Deferred income tax

Deferred tax is provided on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.

Deferred tax liabilities are recognized for all taxable temporary differences, except:

A. where the deferred tax liability arises from the initial recognition of goodwill or of an asset or liability in a transaction that is not a business combination; at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and at the time of the transaction, does not give rise to equal taxable and deductible temporary difference.

B. in respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, where the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future.

Deferred tax assets are recognized for all deductible temporary differences, carry forward of unused tax credits and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized, except:

A. where the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination; at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and at the time of the transaction, does not give rise to equal taxable and deductible temporary differences.

B. in respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted at the reporting date. The measurement of deferred tax assets and deferred tax liabilities reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Deferred tax relating to items recognized outside profit or loss is recognized outside profit or loss. Deferred tax items are recognized in correlation to the underlying transaction either in other comprehensive income or directly in equity. Deferred tax assets are reassessed at each reporting date and are recognized accordingly.

Deferred tax assets and deferred tax liabilities are offset, if a legally enforceable right exists to set off current income tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

According to the temporary exception in the International Tax Reform – Pillar Two Model Rules (Amendments to IAS 12), information about deferred tax assets and liabilities related to Pillar Two income tax will neither be recognized nor be disclosed.

Income tax expense for an interim period is accrued and disclosed based on the tax rate expected to be applicable to the total annual profit, that is, by applying the estimated annual average effective tax rate to the pre-tax profit of the interim period. The estimation of the annual average effective tax rate includes only current income tax expense, while deferred income tax is recognized and measured consistently with the annual financial reporting requirements in accordance with IAS 12 Income Taxes. When a change in tax rate occurs during an interim period, the effect of the change on deferred income tax is recognised in full in profit or loss, other comprehensive income, or directly in equity, as appropriate.

Significant accounting judgments, estimates and assumptions

The preparation of the Company’s parent company only financial statements require management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities, at the end of the reporting period. However, uncertainty about these assumption and estimate could result in outcomes that require a material adjustment to the carrying amount of the asset or liability affected in future periods.

Estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

A. Fair value of financial instruments

Where the fair value of financial assets and financial liabilities recorded in the balance sheet cannot be derived from active markets, they are determined using valuation techniques including the income approach (for example the discounted cash flow model) or market approach. Changes in assumptions about these factors could affect the reported fair value of the financial instruments. Please refer to Note 12 for more details.

B. Inventories

The Company estimates the net realizable value of inventory for damage, obsolescence and price decline. The net realizable value of the inventory is mainly determined based on reliable evidence of expected cash flow. Please refer to Note 6.

C. Impairment of non-financial assets

An impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use. The fair value less costs to sell calculation is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date less incremental costs that would be directly attributable to the disposal of the asset or cash generating unit.

The value in use calculation is based on a discounted cash flow model. The cash flows projections are derived from the budget for the next five years and do not include restructuring activities that the Company is not yet committed to or significant future investments that will enhance the asset's performance of the cash generating unit being tested. The recoverable amount is most sensitive to the discount rate used for the discounted cash flow model as well as the expected future cash-inflows and the growth rate used for extrapolation purposes. The key assumptions used to determine the recoverable amount for the different cash generating units, including a sensitivity analysis, are further explained in Note 6.

D. Pension benefits

The cost of post-employment benefit and the present value of the pension obligation under defined benefit pension plans are determined using actuarial valuations. An actuarial valuation involves making various assumptions. These include the determination of the discount rate and expected rate of salary increases.

E. Revenue recognition – sales returns and allowance

The Company estimates sales returns and allowance based on historical experience and other known factors at the time of sale, which reduces the operating revenue. In assessing the aforementioned sales returns and allowance, revenue is recognized to the extent it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Please refer to Note 6 for more details.

F. Income tax

Uncertainties exist with respect to the interpretation of complex tax regulations and the amount and timing of future taxable income. Given the wide range of international business relationships and the long-term nature and complexity of existing contractual agreements, differences arising between the actual results and the assumptions made, or future changes to such assumptions, could necessitate future adjustments to tax income and expense already recorded. The Company establishes provisions, based on reasonable estimates, for possible consequences of audits by the tax authorities of the respective counties in which it operates. The amount of such provisions is based on various factors, such as experience of previous tax audits and differing interpretations of tax regulations by the taxable entity and the responsible tax authority. Such differences of interpretation may arise on a wide variety of issues depending on the conditions prevailing in the respective Company's domicile.

Deferred tax assets are recognized for all carryforward of unused tax losses and unused tax credits and deductible temporary differences to the extent that it is probable that taxable profit will be available or there are sufficient taxable temporary differences against which the unused tax losses, unused tax credits or deductible temporary differences can be utilized. The amount of deferred tax assets determined to be recognized is based upon the likely timing and the level of future taxable profits and taxable temporary differences together with future tax planning strategies. Please refer to Note 6 for more details on unrecognized deferred tax assets.

G. Trade receivables–estimation of impairment loss

The Company estimates the impairment loss of trade receivables at an amount equal to lifetime expected credit losses. The credit loss is the present value of the difference between the contractual cash flows that are due under the contract (carrying amount) and the cash flows that expects to receive (evaluate forward looking information). However, as the impact from the discounting of short-term receivables is not material, the credit loss is measured by the undiscounted cash flows. Where the actual future cash flows are lower than expected, a material impairment loss may arise. Please refer to Note 6 for more details.

Contents of significant accounts

(1) Cash and cash equivalents

	As of December 31,
	2025	2024
Cash on hand	$313	$333
Checking and savings accounts	1,065,126	652,242
Time deposits (note)	1,416,550	954,000
Equivalent cash, including investments in bonds with resale agreements	609,638	285,315
Total	$3,091,627	$1,891,890

Note: The contract will expire within 3 month and it is readily convertible to a known amount of cash and is subject to an insignificant risk of changes in value.

(2) Notes receivables, net

	As of December 31,
	2025	2024
Notes receivables arising from operating activities	$145,767	$148,361
Less: loss allowance	-	-
Total	$145,767	$148,361

Notes receivables were not pledged.

The Company assesses impairments according to IFRS 9 to assess the impairment. Please refer to Note 6. (18) for more details on loss allowance and Note 12 for details on credit risk.

(3) Accounts receivables and accounts receivable – related parties

	As of December 31,
	2025	2024
Accounts receivables	$3,483,232	$1,684,788
Less: loss allowance	(13,584)	(8,745)
Subtotal	3,469,648	1,676,043
Accounts receivable from related parties	40,291	118,635
Less: loss allowance	-	-
Subtotal	40,291	118,635
Total	$3,509,939	$1,794,678

Accounts receivables were not pledged.

Please refer to Note 12. (11) for disclosure on information of accounts receivables transfer.

Trade receivables are generally on 30-180 days terms. The total carrying amount as of December 31, 2025 and 2024 were NT$3,523,523 thousand and NT$1,803,423 thousand, respectively. Please refer to Note 6. (18) for more details on loss allowance of trade receivables for the years ended December 31, 2025 and 2024. Please refer to Note 12 for more details on credit risk management.

(4) Other receivables and other receivables – related parties

	As of December 31,
	2025	2024
Other receivables	$44,346	$46,048
Less: loss allowance	-	-
Subtotal	44,346	46,048
Other receivable from related parties	487,151	1,661,597
Less: loss allowance	-	-
Subtotal	487,151	1,661,597
Total	$531,497	$1,707,645

Please refer to Note 6. (18) for more details on loss allowance of other receivables for the years ended December 31, 2025 and 2024. Please refer to Note 12 for more details on credit risk management.

(5) Inventories, net

	As of December 31,
	2025	2024
Raw materials	$653,331	$691,896
Supplies	85,795	76,435
Work in progress	382,238	319,297
Finished goods	2,835,215	2,697,749
Total	$3,956,579	$3,785,377

The cost of inventories recognized in expenses amounts to NT$11,743,989 thousand and NT$10,563,166 thousand for the years ended December 31, 2025 and 2024, respectively, including:

	For the years ended December 31,
	2025	2024
(Gains) for market price decline of inventories	$(173,461)	$(50,838)
Loss on work stoppage	305,795	247,831
Revenue from sale of scraps	(70,208)	(82,843)
Others	(89,662)	5,118
Additions to operating costs	$(27,536)	$119,268

Due to the rebound in product prices and inventory destocking, an inventory impairment reversal gain was recognized for the years ended December 31, 2025.

The Company adjusted its inventory and reduced idle inventory in response to market demand, resulting in a reversal of inventory write-down for the years ended December 31, 2024.

No inventories were pledged.

(6) Financial assets at fair value through other comprehensive income

	As of December 31,
	2025	2024
Equity instrument investments measured at fair value through other comprehensive income – non-current:
Listed companies stocks	$377,756	$372,929
Unlisted companies stocks	69,676	67,686
Total	$447,432	$440,615

Financial assets at fair value through other comprehensive income were not pledged.

(7) Investments accounted for using the equity method

The following table lists the investments in subsidiaries using equity method of the company:

	As of December 31,
	2025		2024
Investees	Carrying amount	Percentage of Ownership	Carrying amount	Percentage of Ownership
Taiwan Glass USA Sales Corp.	$492,965	100.00%	$492,620	100.00%
Taiwan Glass China Holding Ltd.	41,970,907	93.98%	44,691,089	93.98%
Taiwan Autoglass Ind. Corp.	67,917	87.00%	81,167	87.00%
Total	$42,531,789		$45,264,876

The Company accounted for its investments in subsidiaries using equity method and made necessary adjustments on the parent company only financial statements.

No investment accounted for using the equity method was pledged.

(8) Property, plant and equipment

	Land	Buildings	Machinery and equipment	Transportation equipment	Leasehold improvements	Other equipment	Construction in progress and equipment awaiting examination	Total
Cost:
As of January 1, 2024	$3,796,048	$8,705,572	$25,780,613	$269,073	$23,531	$424,018	$769,315	$39,768,170
Additions	-	18,132	55,192	530	-	13,488	668,000	755,342
Disposals	-	(454)	(152,402)	(811)	-	(1,995)	-	(155,662)
Transfers	-	106,959	1,058,240	4,747	-	1,879	(1,171,825)	-
Other changes	-	-	-	-	-	-	825,626	825,626
As of December 31, 2024	3,796,048	8,830,209	26,741,643	273,539	23,531	437,390	1,091,116	41,193,476
Additions	-	28,717	156,349	1,208	-	54,419	1,249,228	1,489,921
Disposals	-	(20,106)	(343,320)	(9,882)	-	(14,128)	-	(387,436)
Transfers	-	55,906	1,999,557	557	-	8,441	(2,064,461)	-
Other changes	-	-	(45,025)	-	-	-	1,533,385	1,488,360
As of December 31, 2025	$3,796,048	$8,894,726	$28,509,204	$265,422	$23,531	$486,122	$1,809,268	$43,784,321
Depreciation
As of January 1, 2024	$-	$6,814,115	$18,483,369	$248,764	$14,393	$330,983	$-	$25,891,624
Depreciation	-	235,080	967,953	9,051	5,383	21,231	-	1,238,698
Disposals	-	(454)	(147,928)	(811)	-	(1,995)	-	(151,188)
Transfers	-	-	-	-	-	-	-	-
Other changes	-	-	-	-	-	-	-	-
As of December 31, 2024	-	7,048,741	19,303,394	257,004	19,776	350,219	-	26,979,134
Depreciation	-	237,188	1,316,396	6,390	3,755	29,415	-	1,593,144
Disposals	-	(19,347)	(339,514)	(9,607)	-	(7,281)	-	(375,749)
Transfers	-	-	-	-	-	-	-	-
Other changes	-	-	(14,693)	-	-	-	-	(14,693)
As of December 31, 2025	$-	$7,266,582	$20,265,583	$253,787	$23,531	$372,353	$-	$28,181,836
Net carrying amount as of:
December 31, 2025	$3,796,048	$1,628,144	$8,243,621	$11,635	$-	$113,769	$1,809,268	$15,602,485
December 31, 2024	$3,796,048	$1,781,468	$7,438,249	$16,535	$3,755	$87,171	$1,091,116	$14,214,342

Capitalized borrowing costs of property, plant and equipment are as follows:

Item	For the years ended December 31,
	2025	2024
Construction in progress	$28,681	$11,691
Capitalization rate of borrowing costs	1.974%~2.489%	2.108%~2.531%

Components of machinery and equipment that have different useful lives are furnace and platinum, which are depreciated over 12 years and 20 years, respectively.

No property, plant and equipment was pledged.

(9) Right-of-use assets

	Land	Buildings	Other equipment	Total
Cost:
As of January 1, 2024	$125,788	$70,860	$44,848	$241,496
Additions	2,217	-	13,434	15,651
Disposals	(2,757)	-	(21,183)	(23,940)
Transfers	-	-	-	-
Other changes	-	-	-	-
As of December 31, 2024	125,248	70,860	37,099	233,207
Additions	-	-	7,582	7,582
Disposals	-	(48,832)	(9,224)	(58,056)
Transfers	-	-	-	-
Other changes	-	-	-	-
As of December 31, 2025	$125,248	$22,028	$35,457	$182,733
Depreciation:
As of January 1, 2024	$21,211	$43,294	$31,611	$96,116
Additions	25,050	14,404	9,249	48,703
Disposals	(2,757)	-	(21,183)	(23,940)
Transfers	-	-	-	-
Other changes	-	-	-	-
As of December 31, 2024	43,504	57,698	19,677	120,879
Additions	25,050	12,776	9,061	46,887
Disposals	-	(48,832)	(9,224)	(58,056)
Transfers	-	-	-	-
Other changes	-	-	-	-
As of December 31, 2025	$68,554	$21,642	$19,514	$109,710
Net carrying amount as at:
December 31, 2025	$56,694	$386	$15,943	$73,023
December 31, 2024	$81,744	$13,162	$17,422	$112,328

(10)Other non-current assets

	As of December 31,
	2025	2024
Investment property	$-	$5,978
Advance payments in equipment	213,787	157,966
Intangible assets	3,781	2,008
Overdue receivables	775,771	775,771
Less: loss allowance	(775,771)	(775,771)
Overdue receivables, net	-	-
Refundable deposits	5,596	68,756
Net	$223,164	$234,708

A. The Company had no investment property pledged as collateral. On March 20, 2025, the Company entered into a contract with Mr. Chiu, Ching-Lun to sell its investment property for a total consideration of NT$180,000 thousand. On June 30, 2025, the property was reclassified to non-current assets (or disposal groups) held for sale at a net amount of NT$5,978 thousand, measured at the lower of its carrying amount and fair value less costs to sell. No impairment loss was recognized. The full consideration was collected, and the transfer of title was completed in July 2025.

B. Please refer to Note 6.(18) for more details on loss allowance of trade receivables for the years ended December 31, 2025 and 2024. Please refer to Note 12 for more details on credit risk management.

C. Investment properties held by the Company are not measured at fair value but for which the fair value is disclosed. The fair value measurements of the investment properties are categorized within Level 3. The fair value of investment properties was NT$122,367 thousand, as of December 31, 2024. The fair value has been determined based on valuations performed by an independent appraiser. The valuation method used is direct capitalization method and market approach, and the inputs used are as follows:

Direct capitalization method:

	As of December 31,
	2024
Income capitalization rate	1.37%~2.38%

Amortization expense of intangible assets under the statement of comprehensive income:

	For the years ended December 31,
	2025	2024
Operating costs	$320	$183
General and administrative expense	1,397	3,309
Total	$1,717	$3,492

(11) Short-term loans

Details of short-term loans as of December 31, 2025 and 2024 are as follows:

	As of December 31,
	2025	2024
Unsecured bank loans	$3,100,000	$1,000,000
Secured bank loans	-	500,000
Total	$3,100,000	$1,500,000
Unsecured interest rates	2.091%~2.300%	2.185%~2.300%
Secured interest rates	-	2.150%

A. The Company’s unused short-term lines of credits amounted to NT$0 thousand and NT$300,000 thousand as of December 31, 2025 and 2024, respectively.

B. The above loans were guaranteed by the subsidiaries. Please refer to Note 7.(13) for more details.

(12) Short-term bills payable

	As of December 31,
	2025	2024
Short-term bills payable	$4,080,000	$4,080,000
Less: unamortized discount	(12,091)	(10,942)
Net	$4,067,909	$4,069,058
Interest rates	2.3078%~2.3080%	2.238%~2.308%

(13) Long-term loans

Details of long-term loans as of December 31, 2025 and 2024 are as follows:

Lenders	Terms	Type of loans	Interest Rate	As of December 31,		Redemption
				2025	2024
Chang-Hwa Bank	2025.03.24-2028.03.24	credit of loans	Floating interest rate	$500,000	$-	Repayable semiannually every 6 months from September 24, 2026.
Hua-Nan Bank	2023.05.26-2025.05.26	"	"	-	1,000,000	Principal repaid at maturity
Hua-Nan Bank	2023.12.29-2025.12.29	"	"	-	1,000,000	Principal repaid at maturity

				As of December 31,
Lenders	Terms	Type of loans	Interest Rate	2025	2024	Redemption
Hua-Nan Bank	2025.05.26-2027.05.26	"	"	$1,000,000	$-	Principal repaid at maturity
Hua-Nan Bank	2025.12.29-2027.12.29			1,000,000	-	Principal repaid at maturity
King's Town Bank	2020.06.29-2027.12.28	"	"	520,000	780,000	Repayable semiannually every 6 months from December 29, 2020.
O-Bank	2022.12.19-2025.12.19	credit of loans	Floating interest rate	-	1,000,000	Principal repaid at maturity
O-Bank	2025.11.12-2028.11.11	"	"	1,000,000	-	-Principal repaid at maturity
Union Bank of Taiwan	2023.12.22-2025.06.22	"	"	-	600,000	Principal repaid at maturity
Union Bank of Taiwan	2025.06.23-2026.12.23	"	"	600,000	-	Principal repaid at maturity
Far Eastern International Bank	2023.12.06-2025.12.05	"	"	-	800,000	Principal repaid at maturity
Far Eastern International Bank	2025.12.05-2027.12.03	"	"	800,000	-	Principal repaid at maturity
Bank of Kaohsiung	2023.12.22-2025.12.22	"	"	-	300,000	Principal repaid at maturity
Bank of Kaohsiung	2025.12.22-2027.12.22	"	"	300,000	-	Principal repaid at maturity
Mega Bank	2023.12.29-2026.12.29	"	"	600,000	600,000	Principal repaid at maturity
KGI Bank	2023.11.09-2025.11.09	"	"	-	600,000	Principal repaid at maturity
KGI Bank	2025.12.12-2027.12.12	"	"	600,000	-	Principal repaid at maturity
KGI Bank	2024.06.12-2029.06.12	"	"	500,000	500,000	Repayable every three months from May 17, 2027.
Taiwan Cooperative Bank	2024.09.20-2027.09.20	"	"	700,000	700,000	Repayable monthly from October 20, 2026.
Bank of China	2024.02.01-2026.01.31	"	"	-	400,000	Principal repaid at maturity
Taichung Commercial Bank	2023.10.16-2026.10.16	"	"	500,000	500,000	Principal repaid at maturity
EnTie Commercial Bank	2023.09.22-2025.09.22	"	"	-	700,000	Principal repaid at maturity

Lenders	Terms	Type of loans	Interest Rate	As of December 31,		Redemption
				2025	2024
EnTie Commercial Bank	2025.08.28-2027.08.28	"	"	$700,000	$-	Principal repaid at maturity
Shanghai Commercial & Savings Bank	2022.07.21-2025.07.21	credit of loans	Floating interest rate	-	400,000	Principal repaid at maturity
Shanghai Commercial & Savings Bank	2025.08.05-2028.08.05	"	"	366.666	-	Repayable semiannually every 3 months from November 5, 2025.
Taiwan Business Bank	2024.09.18-2029.09.18	"	"	800,000	1,000,000	Repayable semiannually every 6 months from March 18, 2025.
Mizuho Bank	2023.11.10-2025.11.10	"	"	-	670,000	Principal repaid at maturity
Mizuho Bank	2025.11.10-2027.11.10	"	"	970,000	-	Principal repaid at maturity
Bank SinoPac	2024.02.17-2026.02.17	"	"	1,500,000	1,500,000	Principal repaid at maturity
Bank of PanShin	2024.04.25-2026.04.25	"	"	200,000	-	Principal repaid at maturity
First Commercial Bank	2023.12.12-2025.12.12	"	"	-	400,000	Principal repaid at maturity
First Commercial Bank	2024.06.14-2026.06.14	"	"	300,000	300,000	Principal repaid at maturity
First Commercial Bank	2025.05.05-2027.05.05	"	"	100,000	-	Principal repaid at maturity
First Commercial Bank	2025.12.12-2027.12.10	"	"	400,000	-	Principal repaid at maturity
Hua-Nan Bank	2020.06.23-2025.06.23	guaranteed loan	"	-	150,000	Repayable semiannually every 6 months from December 23, 2020.
Subtotal				13,956,666	13,900,000
Less: current portion of long-term loans				(4,593,333)	(8,080,000)
Total				$9,363,333	$5,820,000

Part of the above loans were secured by real estate provided by other related parties. Please refer to Note 7.(14) for more details.

As of December 31, 2025 and 2024, part of long-term loans contained covenants that required the Company to maintain certain financial ratios such as (1) the current ratio, (2) the ratio of the total liabilities to the net tangible assets, (3) the ratio of EBITDA to interest expense and (4) the tangible assets net worth amount.

(14) Post-employment benefits

Defined contribution plan

The Company adopts a defined contribution plan in accordance with the Labor Pension Act of the R.O.C. Under the Labor Pension Act, the Company will make monthly contributions of no less than 6% of the employees' monthly wages to the employees' individual pension accounts. The Company has made monthly contributions of 6% of each individual employee's salaries or wages to employees' pension accounts.

Pension expenses under the defined contribution plan for the years ended December 31, 2025 and 2024 were NT$90,832 thousand and NT$92,185 thousand, respectively.

Defined benefits plan

The Company adopts a defined benefit plan in accordance with the Labor Standards Act of the R.O.C. The pension benefits are disbursed based on the units of service years and the average salaries in the last month of the service year. Two units per year are awarded for the first 15 years of services while one unit per year is awarded after the completion of the 15th year. The total units shall not exceed 45 units. Under the Labor Standards Act, the Company contributes an amount equivalent to 2% of the employees' total salaries and wages on a monthly basis to the pension fund deposited at the Bank of Taiwan in the name of the administered pension fund committee. Before the end of each year, the Company assesses the balance in the designated labor pension fund. If the amount is inadequate to pay pensions calculated for workers retiring in the same year, the Company will make up the difference in one appropriation before the end of March the following year.

The Ministry of Labor is in charge of establishing and implementing the fund utilization plan in accordance with the Regulations for Revenues, Expenditures, Safeguard and Utilization of the Labor Retirement Fund. The pension fund is managed in-house or under a mandate, based on a passive-aggressive investment strategy for long-term profitability. The Ministry of Labor establishes checks and risk management mechanism based on the assessment of risk factors including market risk, credit risk and liquidity risk, in order to maintain adequate manager flexibility to achieve targeted return without over-exposure of risk. With regard to utilization of the pension fund, the minimum earnings in the annual distributions on the final financial statement shall not be less than the earnings attainable from the amounts accrued from two-year time deposits with the interest rates offered by local banks. Treasury Funds can be used to cover the deficits after the approval of the competent authority. As the Company does not participate in the operation and management of the pension fund, no disclosure on the fair value of the plan assets categorized in different classes could be made in accordance with paragraph 142 of IAS 19. The Company expects to contribute NT$144,000 thousand to its defined benefit plan during the 12 months beginning after December 31, 2025.

Apart from the above-mentioned pension funds, the Company has another fund managed by the pension fund management committee, and the plan is categorized as follows:

	As of December 31,
	2025	2024
Investments with quoted prices in an active market
Equity instruments—domestic	92%	84%
Debt instruments—domestic	8%	16%
Other	0%	0%

The durations of the defined benefits plan obligation as at December 31, 2025 and 2024 are 1 and 2 years, respectively.

Pension costs recognized in profit or loss for the years ended December 31, 2025 and 2024:

	For the years ended December 31,
	2025	2024
Current period service costs	$14,451	$16,386
Interest income or expense	(8,793)	(5,377)
Past service cost	-	-
Payments from the plan	-	-
Total	$5,658	$11,009

Changes in the defined benefit obligation and fair value of plan assets are as follows:

	As of
	December 31, 2025	December 31, 2024	January 1, 2024
Defined benefit obligation at January 1,	$1,256,838	$1,326,193	$1,411,002
Plan assets at fair value	(2,818,502)	(1,945,438)	(1,904,287)
Other non-current assets - Accrued pension assets recognized on the balance sheets	$(1,561,664)	$(619,245)	$(493,285)

Reconciliation of liability (asset) of the defined benefit plan is as follows:

	Defined benefit obligation	Fair value of plan assets	Benefit liability (asset)
As of January 1, 2024	$1,411,002	$1,904,287	$(493,285)
Current period service costs	16,386	-	16,386
Net interest expense (income)	15,380	20,757	(5,377)
Subtotal	1,442,768	1,925,044	(482,276)
Remeasurements of the net defined benefit liability (asset):
Actuarial gains and losses arising from changes in demographic assumptions	-	-	-
Actuarial gains and losses arising from changes in financial assumptions	-	-	-
Experience adjustments	(4,930)	-	(4,930)
Return on plan assets	-	(13,420)	13,420
Subtotal	(4,930)	(13,420)	8,490
Payments from the plan	(111,645)	(111,645)	-
Contributions by employer	-	145,459	(145,459)
Effect of changes in foreign exchange rates	-	-	-
As of December 31, 2024	1,326,193	1,945,438	(619,245)
Current period service costs	14,451	-	14,451
Net interest expense (income)	18,832	27,625	(8,793)
Subtotal	1,359,476	1,973,063	(613,587)
Remeasurements of the net defined benefit liability (asset):
Actuarial gains and losses arising from changes in demographic assumptions	-	-	-
Actuarial gains and losses arising from changes in financial assumptions	-	-	-
Experience adjustments	(3,473)	-	(3,473)
Return on plan assets	-	790,824	(790,824)
Subtotal	(3,473)	790,824	(794,297)
Payments from the plan	(99,165)	(99,165)	-
Contributions by employer	-	153,780	(153,780)
Effect of changes in foreign exchange rates	-	-	-
As of December 31, 2025	$1,256,838	$2,818,502	$(1,561,664)

The following significant actuarial assumptions are used to determine the present value of the defined benefit obligation:

	As of December 31,
	2025	2024
Discount rate	1.22%	1.42%
Expected rate of salary increases	1.00%	1.00%

A sensitivity analysis for significant assumption:

	Effect on the defined benefit obligation
	2025		2024
	Increase in defined benefit obligation	Decrease in defined benefit obligation	Increase in defined benefit obligation	Decrease in defined benefit obligation
Discount rate increase by 0.5%	$-	$-	$-	$-
Discount rate decrease by 0.5%	14	-	-	-
Future salary increase by 0.5%	10	-	-	-
Future salary decrease by 0.5%	-	-	-	-

The sensitivity analyses above are based on a change in a significant assumption (for example: change in discount rate or future salary), keeping all other assumptions constant. The sensitivity analyses may not be representative of an actual change in the defined benefit obligation as it is unlikely that changes in assumptions would occur in isolation of one another.

There was no change in the methods and assumptions used in preparing the sensitivity analyses compared to the previous period.

(15) Provisions

Carbon Fee

A provision has been recognized for carbon fees imposed in accordance with the "Climate Change Response Act" and related subordinate regulations. Based on the applicable regulations and the greenhouse gas emissions within the scope of the emissions inventory for the current year, the Company is subject to the carbon fee regime. The amount of carbon fees is subject to uncertainties, such as the auditing results of the central competent authority and the implementation conditions of the self-determined reduction plan. Accordingly, the Company measures the provision at its best estimate based on the relevant regulations and currently available information. The carbon fees are expected to be paid by the end of May of the subsequent year.

The Company submitted its voluntary greenhouse gas emission reduction plan to the central competent authority on August 31, 2025. However, the approval has not been obtained as of the date the financial statements were authorized for issuance. In view of the uncertainties regarding whether certain emission sources will obtain approval for the voluntary emission reduction plan and achieve the designated annual reduction targets, the Company estimated the carbon fees for those emission sources using the general assessment rate. For other emission sources that the Company considers likely to obtain approval and meet the required annual targets, such expectations have been incorporated into the estimation of the related carbon fees.

The provision for carbon fees for 2025 was estimated and recognized based on the Company's actual greenhouse gas emissions for 2025. The estimated amount for the year is NT$70,297 thousand.

(16) Equities

A. Common stock

The Company’s authorized capital were both NT$30,000,000 thousand as of December 31, 2025 and 2024. The Company’s issued capital were both NT$29,080,608 thousand as of December 31, 2025 and 2024, each at a par value of NT$10. The Company has issued both 2,908,061 thousand common shares as of December 31, 2025 and 2024. Each share has one voting right and a right to receive dividends.

B. Capital surplus

	As of December 31,
	2025	2024
Additional paid-in capital	$1,540,300	$1,540,300
Increase through changes in ownership interests in subsidiaries	228,111	258,091
Expired employee stock warrants	23,661	23,661
Gains on disposal of assets	103,166	103,166
Total	$1,895,238	$1,925,218

According to the Company Act, the capital reserve shall not be used except for making good the deficit of the company. When a company incurs no loss, it may distribute the capital reserves related to the income derived from the issuance of new shares at a premium or income from endowments received by the company. The distribution could be made in cash or in the form of dividend shares to its stockholders in proportion to the number of shares being held by each of them.

C. Earnings distribution and dividend policies

According to the Company’s Articles of Incorporation, the Company’s annual earnings, if any, shall first set aside 1.5% as employee bonuses and no higher than 1.5% as directors and supervisor’s remunerations. Nevertheless, the Company shall first make up for losses if there are accumulated losses. The Company shall make distributions from its net income (less any deficit) in the following order:

a. Offset an accumulated deficit.
b. Set aside 10% as legal reserve.
c. Set aside or reverse special reserve.
d. Following distributions of items “a” to “c” indicated above, the remaining amount, if any, shall be proposed by the board of directors at a board meeting to be distributed as shareholders dividends and bonuses.

Based on the Company’s plan to achieve healthy financial standing, whether to distribute the beginning undistributed earnings should consider the actual operation of the year and the budget planning for the following year, to evaluate the necessity of providing funding via earnings distribution so as to determine the most appropriate dividend policy for sustainable business development. The said shareholders dividend and bonus distribution shall not be less than 50% of the distributable earnings after deducting the above items “a” to “c” from current net income. However, if the shareholders dividends and bonuses account for are less than 1% of the paid-in capital, the Company may resolve to transfer it to retained earnings without making distribution. At least 20% of the dividends must be paid in the form of cash.

According to the Company Act, the Company needs to set aside amount to legal reserve unless where such legal reserve amounts to the total authorized capital. The legal reserve can be used to make good the deficit of the Company. When the Company incurs no loss, it may distribute the portion of legal serve which exceeds 25% of the paid-in capital by issuing new shares or by cash in proportion to the number of shares being held by each of the stockholders.

When the Company distributes distributable earnings, it shall set aside to special reserve, an amount equal to “other net deductions from shareholders” equity for the current fiscal year, provided that if the company has already set aside special reserve according to the requirements for the adoption of IFRS, it shall set aside supplemental special reserve based on the difference between the amount already set aside and other net deductions from shareholders’ equity. For any subsequent reversal of other net deductions from shareholders’ equity, the amount reversed may be distributed from the special reserve.

Following the adoption of TIFRS, the FSC on March 31, 2021 issued Order No. Jin-Guan-Cheng-Fa-Zi-1090150022, which sets out the following provisions for compliance:

On a public company's first-time adoption of the TIFRS, for any unrealized revaluation gains and cumulative translation adjustments (gains) recorded to shareholders' equity that the company elects to transfer to retained earnings by application of the exemption under IFRS 1, the company shall set aside an equal amount of special reserve. Following a company's adoption of the TIFRS for the preparation of its financial reports, when distributing distributable earnings, it shall set aside to special reserve, from the profit/loss of the current period and the undistributed earnings from the previous period, an amount equal to "other net deductions from shareholders' equity for the current fiscal year, provided that if the company has already set aside special reserve according to the requirements in the preceding point, it shall set aside supplemental special reserve based on the difference between the amount already set aside and other net deductions from shareholders' equity. For any subsequent reversal of other net deductions from shareholders' equity, the amount reversed may be distributed. The special reserves booked from first-time adoption of International Financial Reporting Standards were both NT$3,232,749 thousand as of December 31, 2025 and 2024. The Company did not reverse special reserve to retained earnings for using, disposing of or reclassifying relevant assets in 2025 and 2024.

The Company has reversed special reserve to retained earnings for the years ended December 31, 2025 and 2024 as results of the use, disposal or reclassification of related assets in the amounts set out below:

	For the years ended December 31,
	2025	2024
Beginning balance	$3,232,749	$3,232,749
Disposal of subsidiaries/associates	-	-
Reclassification of investment properties/property, plant and equipment	-	-
Ending balance	$3,232,749	$3,232,749

Details of the 2025 and 2024 earnings distribution and dividends per share as approved by the board meeting held on March 9, 2026 and by the stockholders' meeting on June 11, 2025, respectively, are as follows:

	Appropriation of earnings		Dividend per share (NT$)
	2025	2024	2025	2024
Legal reserve	$-	$-	$-	$-
Common stock -cash dividend	-	-	-	-

Please refer to Note 6. (21) for further details on employees' compensation and remuneration to directors.

(17) Operating revenue

	For the years ended December 31,
	2025	2024
Sale of goods	$15,358,706	$13,101,893

Analysis of revenue from contracts with customers during the periods ended December 31, 2025 and 2024 are as follows:

A. Disaggregation of revenue

		Flat glass	Container	Fiber glass	Other	Total
2025	Sale of goods	$4,528,344	$3,758,002	$6,875,988	$196,372	$15,358,706
2024	Sale of goods	$4,695,226	$3,886,671	$4,428,643	$91,353	$13,101,893

The timing of revenue recognition was at a point in time.

B. Contract balances

Contract liabilities – current

	As of
	December 31, 2025	December 31, 2024	January 1, 2024
Sales of goods	$682,522	$714,960	$426,359

The significant changes in the Company's balances of contract liabilities for the years ended December 31, 2025 and 2024 are as follows:

	For the years ended December 31,
	2025	2024
The opening balance transferred to revenue	$714,960	$426,359
Increase in receipts in advance during the period (excluding the amount incurred and transferred to revenue during the period)	682,522	714,960

C. Assets recognized from costs to obtain or fulfil a contract: None.

(18) Expected credit (losses)

	For the years ended December 31,
	2025	2024
Operating expenses – Expected credit (losses)
Accounts receivables	$(4,839)	$(7,446)

Please refer to Note 12 for more details on credit risk.

The Company measures the loss allowance of its contract assets and accounts receivables (including note receivables, accounts receivables, other receivables and overdue receivables) at an amount equal to lifetime expected credit losses. The assessment of the Company's loss allowance as of December 31, 2025 and 2024 is as follows:

The Company considered the grouping of accounts receivables by counterparties' credit rating, by geographical region and by industry sector and its loss allowance is measured by using a provision matrix, details are as follows:

As of December 31, 2025

Group 1	Not yet due	Overdue			Total
		31-90 days	91-365 days	>=366 days
Gross carrying amount	$-	$-	$-	$787,254	$787,254
Loss ratio	-	-	-	100%
Lifetime expected credit losses	-	-	-	(787,254)	(787,254)
Subtotal	-	-	-	-	-

Group 2

	Not yet due	31-90 days	91-365 days	>=366 days	Total
Gross carrying amount	$3,411,953	$43,100	$16,696	$-	$3,471,749
Loss ratio	0%	1%	10%	-
Lifetime expected credit losses	-	(431)	(1,670)	-	(2,101)
Subtotal	3,411,953	42,669	15,026	-	3,469,648

Group 3

	Not yet due	31-90 days	91-365 days	>=366 days	Total
Gross carrying amount	$717,555	$-	$-	$-	$717,555
Loss ratio	0%	-	-	-
Lifetime expected credit losses	-	-	-	-	-
Subtotal	717,555	-	-	-	717,555
Total					$4,187,203

As of December 31, 2024

Group 1

	Not yet due	31-90 days	91-365 days	>=366 days	Total
Gross carrying amount	$-	$-	$-	$784,088	$784,088
Loss ratio	-	-	-	100%
Lifetime expected credit losses	-	-	-	(784,088)	(784,088)
Subtotal	-	-	-	-	-

Group 2

	Not yet due	31-90 days	91-365 days	>=366 days	Total
Gross carrying amount	$1,652,063	$22,364	$2,044	$-	$1,676,471
Loss ratio	0%	1%	10%	-
Lifetime expected credit losses	-	(224)	(204)	-	(428)
Subtotal	1,652,063	22,140	1,840	-	1,676,043

Group 3

Group 3	Not yet due	Overdue			Total
		31-90 days	91-365 days	>=366 days
Gross carrying amount	$1,974,641	$-	$-	$-	$1,974,641
Loss ratio	0%	-	-	-
Lifetime expected credit losses	-	-	-	-	-
Subtotal	1,974,641	-	-	-	1,974,641
Total					$3,650,684

Group 1: The Company has exercised recourse against the individual assessment of accounts receivables, other receivables and overdue receivables.

Group 2: The Company's accounts receivables are overdue but not for more than one year.

Group 3: The Company's notes receivables, accounts receivables- related parties and other receivables are not yet due.

The movement in the provision for impairment of note receivables, accounts receivables, other receivables and overdue receivables for the years ended December 31, 2025 and 2024 was as follows:

	Notes receivables	Accounts receivables	Other receivables	Overdue receivables
As of January 1, 2025	$-	$8,745	$-	$775,771
Reversal for the current period	-	4,839	-	-
Write off	-	-	-	-
As of December 31, 2025	$-	$13,584	$-	$775,771
As of January 1, 2024	$-	$1,299	$-	$775,771
Reversal for the current period	-	7,446	-	-
Write off	-	-	-	-
As of December 31, 2024	$-	$8,745	$-	$775,771

(19) Net amount of other revenues and gains and expenses and losses

	For the years ended December 31,
	2025	2024
Gains (losses) on disposal of property, plant, and equipment	$3,221	$(1,139)

(20) Leases

A. Company as a lessee

The Company has entered into commercial leases on certain offices and plants. These leases have an average life of three to five years with no renewal option included in the contracts. There are no restrictions placed upon the Company by entering into these leases.

The Company's leases effect on the financial position, financial performance and cash flows are as follows:

Amounts recognized in the balance sheet

i. Right-of-use assets

The carrying amount of right-of-use assets

	As of December 31,
	2025	2024
Land	$56,694	$81,744
Buildings	386	13,162
Other equipment	15,943	17,422
Total	$73,023	$112,328

For the years ended December 31, 2025 and 2024, the Company's additions to right-of-use assets amounted to NT$7,582 thousand and NT$15,651 thousand, respectively.

ii. Lease liabilities

	As of December 31,
	2025	2024
Current	$32,916	$45,254
Non-current	30,949	58,343
Lease liabilities	$63,865	$103,597

Please refer to Note 6. (22)(d) for the interest on lease liabilities recognized for the year ended December 31, 2025 and 2024 and refer to Note 12. (5) Liquidity Risk Management for the maturity analysis for lease liabilities as of December 31, 2025 and 2024.

Amounts recognized in the statement of profit or loss

Depreciation charge for right-of-use assets

	For the years ended December 31,
	2025	2024
Land	$25,050	$25,050
Buildings	12,776	14,404
Other equipment	9,061	9,249
Total	$46,887	$48,703

Income and costs relating to leasing activities

	For the years ended December 31,
	2025	2024
The expenses relating to short-term leases	$4,814	$2,544
The expenses relating to leases of low-value assets	5,017	5,043
(Not including the expenses relating to short-term leases of low-value assets)

Cash outflow relating to leasing activities

For the years ended December 31, 2025 and 2024, the Company’s total cash outflows for leases amounted to NT$58,872 thousand and NT$57,841 thousand, respectively.

(21) Summary statement of employee benefits, depreciation and amortization expenses by function:

	For the years ended December 31,
	2025			2024
	Operating costs	Operating expenses	Total	Operating costs	Operating expenses	Total
Employee benefits expense
Salaries	$2,391,510	$371,740	$2,763,250	$2,121,665	$357,553	$2,479,218
Labor and health insurance	262,848	21,633	284,481	243,781	20,693	264,474
Pension	79,112	17,378	96,490	84,694	18,500	103,194
Directors’ remuneration	-	9,951	9,951	-	7,569	7,569
Other employee benefits expense	70,482	12,108	82,590	72,584	12,385	84,969
Depreciation	1,591,247	48,784	1,640,031	1,237,612	49,789	1,287,401
Amortization	320	1,397	1,717	183	3,309	3,492

The number of employees as of December 31, 2025 and 2024 was 4,027 and 3,778, including 10 and 8 non-employee directors, respectively.

For the years ended December 31, 2025 and 2024, the Company’s average employee benefits expense amounted to NT$803 thousand and NT$778 thousand, respectively; the average salaries amounted to NT$688 thousand and NT$658 thousand, respectively. The adjustment of the average salaries was 5%; the Company did not estimate supervisor compensation because it did not set up a supervisor position.

The remuneration of directors and managers of the Company shall be proposed by the Remuneration Committee in accordance with the law, taking into account the Company's operating conditions, profitability, and the prevailing inter-industry remuneration levels, and shall be decided by the Board of Directors. The remuneration of employees shall be fairly and reasonably determined with reference to educational background, professional skills, and the salary levels within the industry. In addition, performance-based bonuses will be awarded to employees based on the overall operational situation, individual performance, and their actual contribution, in line with the established compensation framework.

According to the Company’s Articles of Incorporation, when there is profit of the current year, the Company shall distribute 1.5% of profit of the current year as employees’ compensation and no higher than 1.5% of profit of the current year as remuneration to directors. However, the Company's accumulated losses shall have been covered. Information on the Board of Directors’ resolution regarding the employees’ compensation and remuneration to directors can be obtained from the “Market Observation Post System” on the website of the TWSE.

Based on the Company’s assessment of its profitability for the fiscal years 2025 and 2024, no accruals for employee compensation or directors’ remuneration were recognized for these periods.

A resolution was approved at the board meeting held on March 9, 2026 not to distribute employees’ compensation and remuneration to directors for the year ended December 31, 2025.

The actual amount of employees’ compensation and remuneration to directors for the year ended December 31, 2025 was $0 thousand, which did not differ from the amount recorded as expenses in the financial statements for the year ended December 31, 2024.

(22) Non-operating income and expenses

A. Interest income

	For the years ended December 31,
	2025	2024
Interest income
Bank deposit interest	$65,147	$20,284

B. Other income

	For the years ended December 31,
	2025	2024
Rental income	$22,332	$27,579
Dividend income	19,748	12,173
Others	130,037	132,052
Total	$172,117	$171,804

C. Other gains and losses

	For the years ended December 31,
	2025	2024
Foreign exchange (losses) gains, net	$(45,082)	$98,265
Disposal of investment loss	129,242	-
Others	(208,588)	(127,789)
Total	$(124,428)	$(29,524)

D. Finance costs

	For the years ended December 31,
	2025	2024
Interest on borrowings from bank	$471,390	$494,433
Interest on lease liabilities	1,727	2,344
Interest on factoring of accounts receivable	-	43
Total	$473,117	$496,820

(23) Components of other comprehensive income

Year ended December 31, 2025

	Arising during the period	Reclassification adjustments during the period	Other comprehensive income, before tax	Income tax relating to components of other comprehensive income	Other comprehensive income, net of tax
Not to be reclassified to profit or loss in subsequent periods:
Remeasurements of defined benefit plans	$794,297	$-	$794,297	$(158,859)	$635,438
Unrealized losses from equity instruments investments measured at fair value through other comprehensive income	6,817	-	6,817	-	6,817
Share of other comprehensive income of subsidiaries, associates and joint ventures accounted for using the equity method	78	-	78	-	78
To be reclassified to profit or loss in subsequent periods:
Share of other comprehensive income of subsidiaries, associates and joint ventures accounted for using the equity method	(861,274)	-	(861,274)	-	(861,274)
Total	$(60,082)	$-	$(60,082)	$(158,859)	$(218,941)

Year ended December 31, 2024

	Arising during the period	Reclassification adjustments during the period	Other comprehensive income, before tax	Income tax relating to components of other comprehensive income	Other comprehensive income, net of tax
Not to be reclassified to profit or loss in subsequent periods:
Remeasurements of defined benefit plans	$(8,490)	$-	$(8,490)	$1,698	$(6,792)
Unrealized losses from equity instruments investments measured at fair value through other comprehensive income	101,062	-	101,062	-	101,062
Share of other comprehensive income of subsidiaries, associates and joint ventures accounted for using the equity method	783	-	783	-	783
To be reclassified to profit or loss in subsequent periods:
Share of other comprehensive income of subsidiaries, associates and joint ventures accounted for using the equity method	2,358,123	-	2,358,123	-	2,358,123
Total	$2,451,478	$-	$2,451,478	$1,698	$2,453,176

(24) Income tax

The major components of income tax expense are as follows:

Income tax expense recognized in profit or loss

	For the years ended December 31,
	2025	2024
Current income tax expense:
Current income tax charge	$3,799	$4,242
Adjustments in respect of current income tax of prior periods	1,975	(14,816)
Deferred tax expense:
Deferred tax expense relating to origination and reversal of temporary differences	57,835	50,030
Total income tax expense	$63,609	$39,456

Income tax relating to components of other comprehensive income

	For the years ended December 31,
	2025	2024
Deferred tax (benefit):
Remeasurements of defined benefit plans	$158,859	$(1,698)

Reconciliation between tax expense and the product of accounting profit multiplied by applicable tax rates is as follows:

	For the years ended December 31,
	2025	2024
Accounting (loss) before tax from continuing operations	$(526,720)	$(1,532,106)
Tax at the domestic rates applicable to profits in the country concerned	$(105,344)	$(306,421)
Net investment loss accounted for using the equity method	337,166	381,273
Tax effect of revenues exempt from taxation	(29,748)	(2,248)
Tax effect of expenses not deductible for tax purposes	3,155	(1,146)
Adjustments in respect of current income tax of prior periods	1,975	(14,816)
Non-deductible offshore tax	3,799	4,242
Tax effect of deferred tax assets/liabilities	(179,220)	(5,014)
Other	31,826	(16,414)
Total income tax expense recognized in profit or loss	$63,609	$39,456

Deferred tax assets (liabilities) relate to the following:

For the year ended December 31, 2025

	Beginning balance as of January 1, 2025	Recognized in profit or loss	Recognized in other comprehensive income	Ending balance as of December 31, 2025
Temporary differences
Depreciation difference for tax purpose	$(62,133)	$1,056	$-	$(61,077)
Net defined benefit asset - noncurrent	(123,849)	(29,625)	(158,859)	(312,333)
Unrealized loss due to market price decline of inventories	267,828	(34,775)	-	233,053
Provisions of employee benefit obligations	20,673	1,553	-	22,226
Unrealized gain on foreign exchange	(32,346)	(6,330)	-	(38,676)
Others	5,918	10,286	-	16,204
Land value increment tax	(204,145)	-	-	(204,145)
Deferred tax (expense)/income		$(57,835)	$(158,859)
Net deferred tax assets/(liabilities)	$(128,054)			$(344,748)
Reflected in balance sheet as follows:
Deferred tax assets	$294,419			$271,483
Deferred tax liabilities	$(422,473)			$(616,231)

For the year ended December 31, 2024

	Beginning balance as of January 1, 2024	Recognized in profit or loss	Recognized in other comprehensive income	Ending balance as of December 31, 2024
Temporary differences
Depreciation difference for tax purpose	$(63,542)	$1,409	$-	$(62,133)
Net defined benefit asset - noncurrent	(98,657)	(26,890)	1,698	(123,849)
Unrealized loss due to market price decline of inventories	277,913	(10,085)	-	267,828
Provisions of employee benefit obligations	21,071	(398)	-	20,673
Unrealized gain on foreign exchange	(16,299)	(16,047)	-	(32,346)
Others	3,937	1,981	-	5,918
Land value increment tax	(204,145)	-	-	(204,145)
Deferred tax (expense)/income		$(50,030)	$1,698
Net deferred tax assets/(liabilities)	$(79,722)			$(128,054)
Reflected in balance sheet as follows:
Deferred tax assets	$302,921			$294,419
Deferred tax liabilities	$(382,643)			$(422,473)

Unrecognized deferred tax assets

As of December 31, 2025 and 2024, deferred tax assets that have not been recognized as they may not be used to offset taxable profits amounted to NT$753,649 thousand and NT$928,079 thousand, respectively.

Unrecognized deferred tax liabilities relating to the investment in subsidiaries

The Company did not recognize any deferred tax liability for taxes that would be payable on the unremitted earnings of the Company’s overseas subsidiaries, as The Company has determined that undistributed profits of its subsidiaries will not be distributed in the foreseeable future. As of December 31, 2025 and 2024, the taxable temporary differences associated with investment in subsidiaries, for which deferred tax liability has not been recognized, aggregated to NT$14,055,825 thousand and NT$15,796,324 thousand, respectively.

The assessment of income tax returns

As of December 31, 2025, the assessment of the income tax returns of the Company was approved up to 2023.

(25) Earnings per share

Basic earnings per share amounts are calculated by dividing net (loss) profit for the year attributable to ordinary equity holders of the parent entity by the weighted average number of ordinary shares outstanding during the year.

Diluted earnings per share amounts are calculated by dividing the net (loss) profit attributable to ordinary equity holders of the parent entity (after adjusting for interest on the convertible preference shares) by the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary shares.

	For the years ended December 31,
	2025	2024
Basic earnings per share
Loss attributable to ordinary equity holders of the Company (in thousands)	$(590,329)	$(1,571,562)
Weighted average number of ordinary shares outstanding for basic earnings per share (in thousands)	2,908,061	2,908,061
Basic earnings per share (NT$)	$(0.20)	$(0.54)

Note: There were not potential ordinary shares as of year ended December 31, 2025 and 2024, hence not necessary to calculate diluted earnings per share.

There have been no other transactions involving ordinary shares or potential ordinary shares between the reporting date and the date of completion of the financial statements.

7. Related party transactions

The significant transactions for 2025 and 2024 are summarized below:

Name and relationship of related parties

Name of related parties	Relationship with the Company
Taiwan Autoglass Ind. Corp. (TAG)	Subsidiaries
Taiwan Glass USA Sales Corp. (TGUS)	”
Taiwan Glass China Holding Ltd. (TGCH)	”
TG Qingdao Glass Co., Ltd. (QFG)	”
TG Changjiang Glass Co., Ltd. (CFG)	”
TG Chengdu Glass Co., Ltd. (CDG)	”
TG Huanan Glass Co., Ltd. (HNG)	”
TG Tianjin Glass Co., Ltd. (TJG)	”
Taichia Glass Fiber Co., Ltd. (TGF)	”
TG Xianyang Glass Co., Ltd. (TXY)	”
TG Taicang Architectural Glass Co., Ltd. (TTAR)	”
TG Yueda Autoglass Co., Ltd. (TYAU)	”
TG Anhui Glass Co., Ltd. (TAH)	”
TG Wuhan Architectural Glass Co., Ltd. (TWAR)	Subsidiaries
TG Yueda Solar Glass Co., Ltd. (TYSM)(Note)	”
Taichia Chengdu Glass Fiber Co., Ltd. (TCD)	”
Taichia Bengbu Glass Fiber Co., Ltd. (TBF)	”
TG Donghai Glass Co., Ltd. (DHG)	”
Shihlien Chemical Industrial (Jiangsu) Co., Ltd. (SCJ)	Associate
Tai Fong Investment Co., Ltd.	Other related parties
Tai Cheng Investment Co., Ltd.	”
Tai Yu Investment Co., Ltd.	”
Tai Jian Investment Co., Ltd.	”
Tai Fong Golf Club	”
Shihlien International Investment Co., Ltd.	”
Shihlien Fine Chemical Co., Ltd.	”
XUE XUE INSTITUTE CO., LTD.	”
Kah Hung Corp.	”
Teng Yue Investment Corp.	”

Name of related parties	Relationship with the Company
Tex-Ray Industrial Co., Ltd.	''
SHEN YUN LIMITED	''
Xue Xue Foundation	''

Note: Since December 31, 2024 it was no longer the Company's related party.

Significant transactions with related parties

(1) Sales

	For the years ended December 31,
	2025	2024
Subsidiaries	$298,992	$259,698
Related parties	72	-
Other related parties	1,049	646
Total	$300,113	$260,344

The sales price to the above related parties was determined through mutual agreement based on the market rates. The collection period for related parties was month-end 90 days. The outstanding balance at December 31, 2025 and 2024 was unsecured, non-interest bearing and must be settled in cash. The receivables from the related parties were not guaranteed.

(2) Purchases

	For the years ended December 31,
	2025	2024
Subsidiaries	$49,931	$16,400
Associate	6,873	7,241
Other related parties	837	823
Total	$57,641	$24,464

The purchase price from the above related parties was determined through mutual agreement based on the market rates. The payment terms from the related party suppliers are comparable with third party suppliers and are paid within three months after delivery.

(3) Lease

Rental expense

	For the years ended December 31,
	2025	2024
Other related parties	$2,570	$868

The Company leased offices and land for the years ended December 31, 2025 and 2024.

Rental income

	For the years ended December 31,
	2025	2024
Subsidiaries	$14,788	$17,056

The rental income is from leasing plant, equipment and warehouse and the rent was based on local market price.

Other payables

	As of December 31,
	2025	2024
Other related parties	$959	$936

Right-of-use asset

	As of December 31,
	2025	2024
Other related parties
Tai Cheng Investment Co., Ltd.	$55,364	$79,970
Tai Fong Investment Co., Ltd.	-	8,139
Total	$55,364	$88,109

Current lease liabilities

	As of December 31,
	2025	2024
Other related parties
Tai Cheng Investment Co., Ltd.	$25,000	$24,444
Tai Fong Investment Co., Ltd.	-	8,412
Total	$25,000	$32,856

Non-current lease liabilities

	As of December 31,
	2025	2024
Other related parties
Tai Cheng Investment Co., Ltd.	$25,630	$50,630

Interest expense

	For the years ended December 31,
	2025	2024
Other related parties	$1,321	$2,022

Acquisition and Disposal

In 2025, upon the expiration of lease agreements with other related parties, the Company derecognized the related right-of-use assets. No gain or loss was recognized in connection with the derecognition. There were no such transactions during 2024.

(4) Other income (Guarantee income and technical service etc.)

	For the years ended December 31,
	2025	2024
Subsidiaries	$64,962	$72,373
Associate	3,818	3,808
Other related parties	5,902	5,902
Total	$74,682	$82,083

(5) Accounts receivable

	As of December 31,
	2025	2024
Subsidiaries
TG Qingdao Glass Co., Ltd.	$23,982	$102,457
Others	16,302	16,138
Subtotal	40,284	118,595
Other related parties	7	40
Total	40,291	118,635
Less: loss allowance	-	-
Net	$40,291	$118,635

(6) Other receivables (Guarantee fee, technical service fee, intercompany loans and capital reduction fee etc.)

	As of December 31,
	2025	2024
Subsidiaries
Taichia Chengdu Glass Fiber Co., Ltd.	$73,710	$25,042
Taiwan Glass China Holding Ltd. (Note)	320,083	1,555,130
Others	89,456	49,175
Subtotal	483,249	1,655,534
Associate	3,858	3,896
Other related parties	44	2,167
Total	$487,151	$1,661,597

Note : The amount for TGCH was mainly the receivables from capital reduction.

(7) Accounts payable

	As of December 31,
	2025	2024
Subsidiaries	$31,779	$25,912
Other related parties	21	28
Total	$31,800	$25,940

(8) Other payables(entertainment fee and Consultant fees)

	As of December 31,
	2025	2024
Other related parties	$768	$915

(9) Others

The Company's other transactions with subsidiaries and other related parties is as follows:

	For the years ended December 31,
Other current assets	2025	2024
Subsidiaries	$799	$-
	For the years ended December 31,
Operating expenses	2025	2024
Subsidiaries	$-	$4
Other related parties	2,486	3,046
Total	$2,486	$3,050

(10) The payment term to related parties has no significant difference to other third parties. The outstanding balance at December 31, 2025 and 2024 was unsecured, non-interest bearing and must be settled in cash. The receivables from and the payables to the related parties were not guaranteed.

(11) As of December 31, 2025 and 2024, the Company sold property, plant and equipment to the subsidiaries in the amount of NT$1,638 thousand and NT$113 thousand for the years ended December 31, 2025 and 2024, respectively, resulting in disposal gains of NT$19 thousand and NT$113 thousand, respectively.

(12) The Company purchased property, plant and equipment from the subsidiaries and other related parties in the amount of NT$110,724 thousand and NT$54,788 thousand for the years ended December 31, 2025.

(13) As of December 31, 2025 and 2024, the Company's subsidiaries guaranteed for the Company's bank loans in the amount of NT$0 thousand and NT$500,000 thousand for the years ended December 31, 2025 and 2024, respectively.

(14) As of December 31, 2025 and 2024, other related parties of the Group have provided real estate collateral for the secured loans of the Company, the secured loans matured in June 2025.

(15) Key management personnel compensation

	For the years ended December 31,
	2025	2024
Short-term employee benefits	$36,325	$35,995
Post-employment benefits	1,401	1,621
Total	$37,726	$37,616

Assets pledged as security

Assets pledged for security	December 31, 2025	December 31, 2024	Obligee	Secured liabilities
Bank savings			Mizuho Bank	Performance bond
(other financial assets - current)	$365	$366
Machinery and equipment	18,757	18,757	OC NL INVEST	"
			COOPERATIEF U.A
Total	$19,122	$19,123

Commitments and contingencies

As of December 31, 2025 the contingency and off balance sheet commitments are as follows:

(1) As of December 31, 2025, the outstanding promissory notes signed for business needs, including importing equipment, purchase of equipment, performance bond, and loan guarantee, totaled NT$22,365,638 thousand.

(2) Commodity tax and export tariff were NT$9,526 thousand.

(3) Unused balance of letters of credit issued is as follows:

Currency	Unused Balance (in thousands)
USD	18,690
JPY	2,395,427
EUR	917
RMB	125
CHF	364

(4) Significant contracts of construction in progress and equipment are as follows:

Items	Contract amount	Amount paid	Amount unpaid
Significant contracts of construction in progress and equipment	$2,180,420	$707,708	$1,472,712

The above amount paid was recognized as construction in progress under property, plant and equipment and prepayment for equipment under noncurrent assets.

(5) The Company signed the promissory notes in amount of NT$400,000 thousand, US$64,000 thousand and RMB227,000 thousand for its subsidiaries’ secured loans.

(6) As of December 31, 2025 the Company issued a letter of support to Shihlin China Holding Co., Ltd, to negotiate a loan of RMB218,554 thousand from the bank according to the credit contract. The commitments are as follows:

A. It shall hold and maintain at least (including) 30% of the issued shares of the borrower with the related parties of the Company at any time. The scope and target of the "related party" shall be determined in accordance with the International Financial Reporting Standards (IFRS) that apply to the Company.

B. The Company shall ensure that the borrower maintains a good financial standing at all times and has the ability to perform the credit granting and related document obligations in this case; if the borrower is unable to perform the related obligations, the Company will try its best to provide assistance and urge the borrower to perform the obligations in accordance with the agreement.

Losses due to major disasters

None.

Significant subsequent events

On March 9, 2025, the Board of Directors approved the kiln reconstruction project in response to growing market demand. The Company plans to invest approximately NT$4,700,000 thousand in this initiative, which is aimed at expanding production capacity and strengthening the Company’s market position. This capital expenditure is expected to enhance operational efficiency and support long-term business development.

Others

Financial Instruments

(1) Categories of financial instruments

Financial assets	As of December 31,
	2025	2024
Financial assets at fair value through other comprehensive income	$447,432	$440,615
Financial assets measured at amortized cost
Cash and cash equivalents (excluding cash on hand)	3,091,314	1,891,557
Receivables	4,187,203	3,650,684
Refundable deposits	5,596	68,756
Subtotal	7,284,113	5,610,997
Total	$7,731,545	$6,051,612
Financial liabilities	As of December 31,
	2025	2024
Financial liabilities at amortized cost:
Short-term loans	$3,100,000	$1,500,000
Short-term bills payable	4,067,909	4,069,058
Payables	2,181,863	1,852,108
Long-term loans (including current portion)	13,956,666	13,900,000
Lease liabilities (including current and non-current)	63,865	103,597
Deposits-in	2,200	2,361
Total	$23,372,503	$21,427,124

(2) Financial risk management objectives and policies

The Company’s principal financial risk management objective is to manage the market risk, credit risk and liquidity risk related to its operating activates. The Company identifies, measures and manages the aforementioned risks based on the Company’s policy and risk appetite.

The Company has established appropriate policies, procedures and internal controls for financial risk management. Before entering into significant transactions, due approval process by the Board of Directors must be carried out based on related protocols and internal control procedures. The Company complies with its financial risk management policies at all times.

(3) Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of the changes in market prices. Market prices comprise currency risk, interest rate risk and equity risk.

In practice, it is rarely the case that a single risk variable changes independently from other risk variables, there are usually interdependencies between risk variables. The sensitivity analysis disclosed below does not take into account the interdependencies between risk variables.

Foreign currency risk

The Company’s exposure to the risk of changes in foreign exchange rates relates primarily to the Company’s operating activities (when revenue or expense are denominated in a different currency from the Company’s functional currency).

The Company has certain foreign currency receivables to be denominated in the same foreign currency with certain foreign currency payables, therefore natural hedge is received.

The foreign currency sensitivity analysis of the possible change in foreign exchange rates on the Company’s profit is performed on significant monetary items denominated in foreign currencies as at the end of the reporting period. The Company’s foreign currency risk is mainly related to the volatility in the exchange rates for US dollars. The information of the sensitivity analysis is as follows:

When NTD weakens/strengthens against US dollars by 1%, the profit for the years ended of December 31, 2025 and 2024 is increased/decreased by NT$47,252 thousand and NT$37,342 thousand, respectively.

Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s bank borrowings with fixed interest rates and variable interest rates.

The Company manages its interest rate risk by having a balance portfolio of fixed and variable loans.

The interest rate sensitivity analysis is performed on items exposed to interest rate risk as at the end of the reporting period, including investments and borrowings with variable interest rates and interest rate swaps. At the reporting date, a change of 10 basis points of interest rate in a reporting period could cause the profit for the years ended December 31, 2025 and 2024 to decrease/increase by NT$9,058 thousand and NT$12,981 thousand, respectively.

Equity price risk

The fair value of the Company’s listed and unlisted equity securities are susceptible to market price risk arising from uncertainties about future values of the investment securities. The Company’s listed and unlisted equity securities are classified under financial assets measured at fair value through other comprehensive income. The Company manages the equity price risk through diversification and placing limits on individual and total equity instruments. Reports on the equity portfolio are submitted to the Company’s senior management on a regular basis. The Company’s Board of Directors reviews and approves all equity investment decisions.

The amount of the investment in the unlisted equity securities is not significant. Therefore, a change in the overall earnings stream of the valuations performed on the invested company would not have a significant impact on the income nor equity attributable to the Company for the years ended December 31, 2025 and 2024.

As of December 31,2025 and 2024, a change of 10% in the price of the listed equity securities measured at fair value through profit or loss could increase/decrease the Company’s profit by NT$37,776 thousand and NT$37,293 thousand, respectively.

(4) Credit risk management

Credit risk is the risk that a counter party will not meet its obligations under a contract, leading to a financial loss. The Company is exposed to credit risk from operating activities (primarily for accounts receivables and notes receivables) and from its financing activities, including bank deposits and other financial instruments.

Customer credit risk is managed by each business unit subject to The Company’s established policy, procedures and control relating to customer credit risk management. Credit limits are established for all customers based on their financial position, rating from credit rating agencies, historical experience, prevailing economic condition and the Company’s internal rating criteria etc. Certain customer’s credit risk will also be managed by taking credit enhancing procedures, such as requesting for prepayment or insurance.

As of December 31, 2025, only 21%~23% of the Company's total receivables were from customers whose receivables accounted for 10% or more of the total receivables of the Company. As of December 31, 2024, only 20% of the Company's total receivables were from customers whose receivables accounted for 10% or more of the total receivables of the Company. There is no significant credit risk of receivables.

Credit risk from balances with banks, fixed income securities and other financial instruments is managed by the Company's treasury in accordance with the Company's policy. The Company only transacts with counterparties approved by the internal control procedures, which are banks and financial institutions, companies and government entities with good credit rating and with no significant default risk. Consequently, there is no significant credit risk for these counter parties.

The Company adopted IFRS 9 to assess the expected credit losses. Except for trade receivables, the remaining debt instrument investments which are not measured at fair value through profit or loss, low credit risk for these investments is a prerequisite upon acquisition and makes an assessment at each reporting date as to whether the expected credit losses increase significantly, and then further determines the method of measuring the loss allowance and the loss rates. The details of the assessment for the credit risk of the Company are described as follows:

Level of credit risk	Indicator	Measurement method for expected credit losses	Total carrying amount as at
			As of December 31,
			2025	2024
Credit-impaired	Other impaired evidence	Lifetime expected credit losses	$787,254	$784,088
Simplified approach (Note)	(Note)	Lifetime expected credit losses	4,189,304	3,651,112

Note: By using simplified approach (loss allowance is measured at lifetime expected credit losses), including accounts and notes receivables and other receivables.

Financial assets are written off when there is no realistic prospect of future recovery (the issuer or the debtor is in financial difficulties or bankruptcy).

(5) Liquidity risk management

The Company's objective is to maintain a balance between continuity of funding and flexibility through the use of cash and cash equivalents, highly liquid equity investments and bank borrowings. The table below summarizes the maturity profile of the Company's financial liabilities based on the contractual undiscounted payments and contractual maturity. The payment amount includes the contractual interest. The undiscounted payment relating to borrowings with variable interest rates is extrapolated based on the estimated interest rate yield curve as of the end of the reporting period.

Non-derivative financial liabilities

	Less than 1 year	2 to 3 years	4 to 5 years	> 5 years	Total
As of December 31, 2025
Short-term loans	$3,129,312	$-	$-	$-	$3,129,312
Short-term bills payable	4,080,000	-	-	-	4,080,000
Payables	2,181,863	-	-	-	2,181,863
Long-term loans	4,876,091	9,261,364	313,969	-	14,451,424
Lease liabilities	32,281	32,084	750	-	65,115
As of December 31, 2024
Short-term loans	$1,513,973	$-	$-	$-	$1,513,973
Short-term bills payable	4,080,000	-	-	-	4,080,000
Payables	1,852,108	-	-	-	1,852,108
Long-term loans	8,362,757	5,206,252	748,324	-	14,317,333
Lease liabilities	45,144	60,258	868	-	106,270

As of December 31, 2025, there was liquidity risk that the Company's current liability exceeded current asset. However, the Company expects to maintain certain financial financing plans to respond to this risk. The Company's management considers that the measures mentioned above could reduce the liquidity risk significantly as of December 31, 2025.

(6) Reconciliation of liabilities arising from financing activities

Reconciliation of liabilities for the year ended December 31, 2025:

	Short-term loans	Short-term bills payable	Long-term loans	Lease liabilities	Total liabilities from financing activities
As of January 1, 2025	$1,500,000	$4,069,058	$13,900,000	$103,597	$19,572,655
Cash flows	1,600,000	-	56,666	(49,041)	1,607,625
Non-cash changes:	-	(1,149)	-	9,309	8,160
As at 31 December 2025	$3,100,000	$4,067,909	$13,956,666	$63,865	$21,188,440

Reconciliation of liabilities for the year ended December 31, 2024:

	Short-term loans	Short-term bills payable	Long-term loans	Lease liabilities	Total liabilities from financing activities
As of January 1, 2024	$1,950,000	$4,064,560	$14,281,970	$135,856	$20,432,386
Cash flows	(450,000)	-	(381,970)	(50,254)	(882,224)
Non-cash changes:	-	4,498	-	17,995	22,493
As at 31 December 2024	$1,500,000	$4,069,058	$13,900,000	$103,597	$19,572,655

(7) Fair values of financial instruments

A. The methods and assumptions applied in determining the fair value of financial instruments:

The fair value of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions were used to estimate the fair values:

a. The carrying amount of cash and cash equivalents, trade receivables, accounts payable and other current liabilities approximate their fair value due to their short maturities.

b. For financial assets and liabilities traded in an active market with standard terms and conditions, their fair value is determined based on market quotation price (including listed equity securities, beneficiary certification, bonds and futures).

c. Fair value of equity instruments without market quotations (including private placement of listed equity securities, unquoted public company and private company equity securities) are estimated using the market method valuation techniques based on parameters such as prices based on market transactions of equity instruments of identical or comparable entities and other relevant information (for example, inputs such as discount for lack of marketability, P/E ratio of similar entities and Price-Book ratio of similar entities).

d. Fair value of debt instruments without market quotations and bank loans are determined based on the counterparty prices or valuation method. The valuation method uses DCF method as a basis, and the assumptions such as the interest rate and discount rate are primarily based on relevant information of similar instrument (such as yield curves published by the Taipei Exchange, average prices for Fixed Rate Commercial Paper published by Reuters and credit risk, etc.)

B. Fair value of financial instruments measured at amortized cost

The carrying amount of the Company’s financial instruments measured at amortized cost approximate their fair value.

C. Fair value measurement hierarchy for financial instruments

Please refer to Note 12. (8) for fair value measurement hierarchy for financial instruments of the Company.

(8) Assets measured at fair value

A. Fair value measurement hierarchy

All asset and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, based on the lowest level input that is significant to the fair value measurement as a whole. Level 1, 2 and 3 inputs are described as follows:

Level 1 – Quoted (unadjusted) market prices in active markets for identical assets or liabilities that the entity can access at the measurement date.

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3 – Unobservable inputs for the asset or liability

For assets and liabilities that are recognized in the financial statements on a recurring basis, the Company determines whether transfers have occurred between Levels in the hierarchy by re-assessing categorization at the end of each reporting period.

B. Fair value measurement hierarchy of the Company’s assets and liabilities

The Company does not have assets that are measured at fair value on a non-recurring basis. Fair value measurement hierarchy of the Company’s assets and liabilities measured at fair value on a recurring basis is as follows:

As of December 31, 2025

	Level 1	Level 2	Level 3	Total
Financial assets:
Financial assets at fair value through other comprehensive income	$377,756	$-	$69,676	$447,432

As of December 31, 2024

	Level 1	Level 2	Level 3	Total
Financial assets:
Financial assets at fair value through other comprehensive income	$372,929	$-	$67,686	$440,615

During the years ended December 31, 2025 and 2024, there were no transfers between Level 1 and Level 2 fair value measurements.

Reconciliation for fair value measurements in Level 3 of the fair value hierarchy is as follows:

	Assets
	At fair value through other comprehensive income
	Stocks
Beginning balances As of January 1, 2024	$67,442
Total gains and losses recognized for the year ended December 31, 2024:
Amount recognized in profit or loss	-
Amount recognized in OCI	244
Ending balances as of December 31, 2024	67,686
Total gains and losses recognized for the year ended December 31, 2025:
Amount recognized in profit or loss	-
Amount recognized in OCI	1,990
Ending balances as of December 31, 2025	$69,676

Total gains and losses recognized for the years ended December 31, 2025 and 2024 contained gains and losses related to such assets on hand as of December 31, 2025 and 2024 in the amount of NT$0 thousand.

Information on significant unobservable inputs to valuation

Description of significant unobservable inputs to valuation of recurring fair value measurements categorized within Level 3 of the fair value hierarchy is as follows:

As of December 31, 2025

	Valuation techniques	Significant unobservable inputs	Quantitative information	Relationship between inputs and fair value	Sensitivity of the input to fair value
Financial assets at fair value through other comprehensive income
Stocks	Market approach	Discount for lack of marketability	-	The higher the discount for lack of marketability, the lower the fair value of the stocks	1% increase (decrease) in the discount for lack of marketability would result in (decrease) increase in the Company’s equity by NT$697 thousand

As of December 31, 2024

	Valuation techniques	Significant unobservable inputs	Quantitative information	Relationship between inputs and fair value	Sensitivity of the input to fair value
Financial assets at fair value through other comprehensive income
Stocks	Market approach	Discount for lack of marketability	-	The higher the discount for lack of marketability, the lower the fair value of the stocks	1% increase (decrease) in the discount for lack of marketability would result in (decrease) increase in the Company’s equity by NT$677 thousand

Valuation process used for fair value measurements categorized within Level 3 of the fair value hierarchy

The Company is responsible for validating the fair value measurements and ensuring that the results of the valuation are in line with market conditions, based on independent and reliable inputs which are consistent with other information, and represent exercisable prices. The Company analyses the movements in the values of assets and liabilities which are required to be re-measured or re-assessed as per the Company's accounting policies at each reporting date.

C. Fair value measurement hierarchy of the Company's assets and liabilities not measured at fair value but for which the fair value is disclosed

As of December 31, 2025

None.

As of December 31, 2024

	Level 1	Level 2	Level 3	Total
Financial assets not measured at fair value but for which the fair value is disclosed:
Investment properties (please refer to Note 6.(10))	$-	$-	$122,367	$122,367

(9) Significant assets and liabilities denominated in foreign currencies

Information regarding the significant assets and liabilities denominated in foreign currencies is listed below:

(in thousands)

	As of December 31,
2025	2024
Foreign currencies	Foreign exchange rate
Financial assets
Monetary items:
USD	$166,403
Non-Monetary items:
USD	15,685

The above information is disclosed based on the carrying amount of foreign currency (after conversion to functional currency).

Since there were various functional currencies used, the Company was unable to disclose foreign exchange gains (losses) towards each foreign currency with significant effect. The realized and unrealized foreign exchange gains amounted to NT$(45,082) thousand and NT$98,265 thousand for the years ended December 31, 2025 and 2024, respectively.

(10) Capital management

The primary objective of the Company’s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support its business and maximize stockholder value. The Company manages its capital structure and makes adjustments to it, in light of changes in economic conditions. To maintain or adjust the capital structure, The Company may adjust dividend payment to stockholders, return capital to stockholders or issue new shares.

(11) Information of finance assets transfer

Transferred financial assets that are partially-derecognized in their entirety

The Company entered into a factoring agreement with a financial institution, which is partly with recourse and partly non-recourse. The Company has transferred the right on those non-recourse factoring, and in accordance with the contract, the Company shall not be liable for the credit risks associated with uncollectable receivables (except for commercial disputes), which met the requirements for derecognizing financial assets. The related information is as follows:

As of December 31, 2025:

None.

As of December 31, 2024:

Transferee	Amount transferred	Amount	Advanced amount	Interest rate range	Credit
O-Bank	$--	$--	$--	-	$525,000

Other disclosure

(1) Information at significant transactions

A. Lending fund to others: Please refer to Attachment 1.
B. Endorsement/guarantee provided to others: Please refer to Attachment 2.
C. Securities held at the end of the period: Please refer to Attachment 3.
D. Related party transactions for purchases and sales amounts exceeding NT$100 million or 20 percent of the capital stock or more: Please refer to Attachment 4.
E. Receivables from related parties with amounts exceeding NT$100 million or 20 percent of capital stock or more: Please refer to Attachment 5.
F. Business relationship between the parent and the subsidiaries and between each subsidiary, and the circumstances and accounts of any significant transactions between them: Please refer to Attachment 6.

(2) Information on investees

Information of the investees in which the Company directly or indirectly has significant influence or control: Please refer to Attachment 7.

(3) Information on investments in Mainland China

A. Investee’s name, main businesses and products, total amount of capital, method of investment, accumulated inflow and outflow of investments from Taiwan, percentage of ownership, investment income or loss, carrying value of the investments, inward remittance of earnings and limits on investments in Mainland China: Please refer to Attachment 8.
B. Directly or indirectly significant transactions through other regions with the investees in Mainland China, including price, payment terms, unrealized gain or loss, and other events with significant effects on the operating results and financial condition are disclosed as follows:

a. Accumulated amount and percentage of purchase and related payables at the end of the period: Please refer to Note 7 and Attachment 4.
b. Accumulated amount and percentage of sales and related receivables at the end of the period: Please refer to Note 7 and Attachment 4.
c. Amount of property transaction and related gain or loss: Note 7.
d. Endorsement/guarantee provided to others at the end of the period: Please refer to Attachment 2.
e. Financing provided to others at the end of the period: Note 7.
f. Other significant transactions, such as service provided or received: Please refer to Note 7.

Attachment 1

Financing provided to others for the year ended December 31, 2025

(Dollar amount expressed in thousands of NTD unless otherwise specified)

No. (Note 1)	Financing Company	Counterparty	Financial Statement Account (Note 2)	Related Party	Maximum Balance for the Period (Note 3)	Ending Balance (In Thousands) (Note 4)	Actual Amount provided	Interest Rate	Nature of Financing (Note 4)	Transaction Amounts (Note 5)	Reason for Financing (Note 6)	Allowance for Bad Debt	Collateral		Amount for Individual Counterparty (Note 7)	Financial Amount for Financing Company (Note 7)
													Item	Value
0	TGI	QFG	Other receivables	Yes	$89,316	$23,971	$23,971	-	2	$-	Need for operating	$-	None	$-	47,600,469+10%=4,760,047(in thousands)	47,600,469+20%=9,520,894(in thousands)
1	CDG	TYAU	a	Yes	683,960	649,724	649,724	4.00%	2	-	Need for operating	-	None	-	8,440,175+50%=4,220,088(in thousands)	8,440,175+100%=
1	CDG	TCD	a	Yes	2,523,102	2,425,845	2,425,845	3.00~3.60%	2	-	Need for operating	-	None	-	a	a
1	CDG	TBF	a	Yes	1,387,743	1,341,481	1,341,481	3.60%	2	-	Need for operating	-	None	-	a	a
1	CDG	HZSS	a	Yes	124,894	121,998	121,998	3.00%	2	-	Need for operating	-	None	-	a	a
2	DHG	QFG	a	Yes	1,311,029	1,311,029	1,020,375	3.85~4.00%	2	-	Need for operating	-	None	-	3,763,064+50%=1,001,532(in thousands)	3,763,064+100%=3,763,064(in thousands)
2	DHG	TJG	a	Yes	185,032	178,864	178,864	4.00%	2	-	Need for operating	-	None	-	a	a
3	CFG	TYAU	a	Yes	55,510	40,244	40,244	4.00%	2	-	Need for operating	-	None	-	2,697,882+50%=1,348,941(in thousands)	2,697,882+100%=2,697,882(in thousands)
3	CFG	TCD	a	Yes	501,901	485,169	485,169	3.60%	2	-	Need for operating	-	None	-	a	a
3	CFG	TBF	a	Yes	323,807	290,654	290,654	3.60%	2	-	Need for operating	-	None	-	a	a
3	CFG	TJG	a	Yes	437,037	402,444	402,444	3.90%	2	-	Need for operating	-	None	-	a	a
4	HNG	TJG	a	Yes	1,322,982	1,278,878	1,278,878	3.90%	2	-	Need for operating	-	None	-	2,941,021+50%=1,470,511(in thousands)	2,941,021+100%=2,941,021(in thousands)
5	QFG	QRG	a	Yes	234,168	226,361	-	226,361	-	2	Need for operating	-	None	-	615,021+50%=307,511(in thousands)	615,021+100%=615,021(in thousands)
5	QFG	TQPT	a	Yes	259,045	250,410	250,410	3.85%	2	-	Need for operating	-	None	-	a	a
6	TXY	TYAU	a	Yes	36,081	24,147	24,147	4.00%	2	-	Need for operating	-	None	-	4,786,274+50%=2,393,137(in thousands)	4,786,274+100%=4,786,274(in thousands)
6	TXY	TCD	a	Yes	462,581	447,160	447,160	3.60%	2	-	Need for operating	-	None	-	a	a
6	TXY	TBF	a	Yes	1,017,679	983,752	983,752	3.00~3.60%	2	-	Need for operating	-	None	-	a	a
7	TWAR	TBF	a	Yes	370,065	357,728	357,728	3.00%	2	-	Need for operating	-	None	-	1,663,859+50%=831,938(in thousands)	1,663,859+100%=1,663,859(in thousands)
8	TGF	TCD	a	Yes	804,888	804,888	804,888	3.00~3.10%	2	-	Need for operating	-	None	-	4,627,605+100%=2,313,803(in thousands)	4,627,605+100%=4,627,605(in thousands)
8	TGF	TBF	a	Yes	665,358	536,592	536,592	3.00~3.10%	2	-	Need for operating	-	None	-	a	a
9	TTAR	TBF	a	Yes	138,774	134,148	134,148	3.60%	2	-	Need for operating	-	None	-	1,564,373+50%=782,187(in thousands)	1,564,373+100%=1,564,373(in thousands)
10	TGI/S	TJG	a	Yes	232,435	220,010	220,010	5.00%	2	-	Need for operating	-	None	-	492,965+50%=246,483(in thousands)	492,965+300%=492,965(in thousands)
Total							$13,244,843

Note 1: The Company and its subsidiaries are coded as follows:
1. The Company is coded "0".
2. The subsidiaries are coded starting from "1" in numerical order.
Note 2: If the economic substance of transactions are financing to others, regardless of which component they recognized as in the financial statements, certain transactions are included herein.
Note 3: The maximum balance of the Company and its subsidiaries' financing to others for the year ended December 31, 2025.
Note 4: Nature of financing is coded as follows:
1. The financing occurred due to business transactions is coded "1".
2. The financing occurred due to short-term financing is coded "2".
Note 5: Total amount of the financing is disclosed herein if the financing was related to business transactions. The amount shall mean the transaction amount between the lending entity and the borrower within the most recent year.
Note 6: The reasons and counterparties of the financing are addressed herein on the financing associated with short-term capital needs, for example: refund liability, purchase equipment, need for operating, etc.
Note 7: The process of providing finance to others, the limits to individual counterparties and the total financing limit for the company should be noted, as well as the computations.
Note 8: If a listed company brings the financing proposal to the board of directors according to Paragraph 1, Article 1 of the Regulations Governing Leaning of Funds and Making of Endorsements/Guarantees by Public Companies, the company still needs to disclose the resolution amount of the board in the balance to disclose the risk, even if the funds are not appropriated yet.
With the subsequent repayment of the funds, the company shall disclose the amount repaid to reflect the adjusted risk.
If a listed company authorizes the chairman of the board to appropriate or use certain limits of the funds several times in the period of a year according to Paragraph 2, Article 14 of Regulations Governing Leaning of Funds and Making of Endorsements/Guarantees by Public Companies, the company still needs to disclose the amount approved by the board.
Note 9: The board of directors of the investment company of TG Qingdao Glass Co., Ltd. has approved the merger whereby TG Qingdao Glass Co., Ltd. will absorb TG (Qingdao) Photoclectric Technology Co., Ltd., with the merger effective date being December 31, 2025.
TG Qingdao Glass Co., Ltd. will be the surviving entity, and TG (Qingdao) Photoclectric Technology Co., Ltd. will be dissolved. The merger procedures have not yet been completed.
Note 10: All transactions listed above are eliminated in the consolidated financial statements.

Attachment 2
Endorsement/guarantee provided to others for the year ended December 31, 2025
(Dollar amount expressed in thousands of NTD unless otherwise specified)

No. (Note 1)	Endorser/ Guarantor	Endorses		Limits of Endorsement Guarantee Amount for receiving Party (Note 3)	Maximum Balance for the Period (Note 4)	Ending Balance (Note 5)	Actual Amount drawn (Note 6)	Amount of Endorsement/ Guarantee collateralized	Percentage of Accumulated Endorsement/Guarantee to Net Equity per latest Financial statements	Limit on the Endorsement/Guarantee Amount (Note 3)	Parent Company Endorsed or Guaranteed for the Subsidiaries. (Note 7)	Endorsement or Guarantee for Entities in China. (Note 7)
		Company Name	Relationship (Note 2)
0	TGI	TAG	2	$23,800,235	$431,430	$431,430	$148,827	$-	1%	1. In accordance with Article 4 of the Procedures for Endorsement and Guarantee, the Company may provide endorsement/guarantee to others but shall not exceed 120% of its net assets. For endorsement/guarantee to an individual entity, the amount is limited to 50% of the Company's net assets.	Y
0	TGI	TGCH	2	a	2,257,940	1,980,090	-	-	4%		Y
0	TGI	TYAU	2	a	41,632	40,244	22,358	-	0%		Y	Y
0	TGI	TGF	2	a	254,420	245,938	-	-	1%	2. Subsidiaries may provide endorsement/guarantee to others in the amount which shall not exceed 100% of their net assets. For endorsement/guarantee to an individual entity, the amount is limited to 60% of the subsidiary's net assets.	Y	Y
0	TGI	TCD	2	a	416,323	268,296	144,302	-	1%		Y	Y
0	TGI	TBF	2	a	208,162	201,222	10,933	-	0%	3.TGF: 47,600,469x120%=	Y	Y
0	TGI	HNG	2	a	288,197	259,353	140,856	-	1%	37,120,563 (in thousands)	Y	Y
1	CDG	TXY	4	5,064,105	462,581	-	-	-	-	4.CDG: 8,448,175x100%=		Y
1	CDG	TWAR	4	a	92,516	89,432	-	-	1%	8,448,175 (in thousands)		Y
2	DDG	QFG	4	2,257,838	1,567,687	1,351,989	706,289	-	36%	5.DHG: 3,763,064x100%=		Y
3	CFG	TTAR	4	1,618,729	638,218	394,547	275,205	-	15%	3,763,064 (in thousands)		Y
3	CFG	TGF	4	a	786,387	760,172	471,065	-	28%	6.CFG: 2,697,002x100%=		Y
4	QFG	TQPT(Note 8)	2	369,013	231,290	223,580	134,148	-	36%	2,697,002 (in thousands)		Y
5	TXY	CDG	4	2,871,764	925,162	530,999	530,999	-	11%	7.QFG: 4,33,821x100%=		Y
6	TGF	CFG	4	2,776,563	91,216	-	-	-	-	615,821 (in thousands)		Y
6	TGF	TCD	4	a	1,565,060	1,565,060	1,130,797	-	34%	8.TXY: 4,786,274x100%=		Y
6	TGF	TBF	4	a	532,287	452,481	246,698	-	10%	4,786,274 (in thousands)		Y
7	TGCH	TGI	3	26,010,422	500,000	-	-	-	-	9.TGF: 4,627,605x100%=		Y
8	TTAR	CFG	4	938,624	89,432	89,432	21,383	-	4%	10.TGCH: 1,564,373x100%=		Y

Note 1: The Company and its subsidiaries are coded as follows:
1. The Company is coded "0".
2. The subsidiaries are coded starting from "1" in numerical order.

Note 2: Endorsers are disclosed as one of the following:
1. A company with which it does business.
2. A company in which the public company directly and indirectly holds more than 50% of the voting shares.
3. A company that directly and indirectly holds more than 50% of the voting shares in the public company.
4. A company in which the public company holds, directly or indirectly, 90% or more of the voting shares.
5. A company that fulfills its contractual obligations by providing mutual endorsements/ guarantees for their jointly invested company in proportion to their shareholding percentages.
6. A company that all capital contributing shareholders make endorsements/ guarantees for their jointly invested company in proportion to their shareholding percentages.
7. Companies in the same industry provide among themselves joint and several security for a performance guarantee of a sales contract for pre-construction homes pursuant to the Consumer Protection Act for each other.

Note 3: The process of providing finance to others, the limits to individual counterparties and the total financing limit for the company should be noted, as well as the computations.

Note 4: The maximum amount of the Company and its subsidiaries' endorsement or guarantee to others for the year ended December 31, 2025.

Note 5: The Company bears the responsibility of endorsements or guarantees as long as the ceilings on the amount of guarantees or endorsements are approved by banks.

Other occurrences related to endorsement or guarantee shall be included in the balance.

Note 6: Fill in the actual amount drawn from the balance.

Note 7: Fill in "Y" if it belongs to "Parent Company Endorsement or Guarantee for the Subsidiaries", "Subsidiaries Endorsement or Guarantee for the Parent Company", or "Endorsement or Guarantee for Entities in China".

Note 8: The board of directors of the investment company of TG Qingdao Glass Co., Ltd. has approved the merger whereby TG Qingdao Glass Co., Ltd. will absorb TG (Qingdao) Photoelectric Technology Co., Ltd., with the merger effective date being December 31, 2025.

TG Qingdao Glass Co., Ltd. will be the surviving entity, and TG (Qingdao) Photoelectric Technology Co., Ltd. will be dissolved. The merger procedures have not yet been completed.

Note 9: All transactions listed above are eliminated in the consolidated financial statements.

Attachment 3

Securities held as of December 31, 2025

(Dollar amount expressed in thousands of NTD unless otherwise specified)

Company	Type and Name of the Securities (Note 1)	Relationship (Note 2)	Financial Statement Account	As of December 31, 2025				Remark (Note 4)
				Shares	Carrying Value (Note 3)	Percentage of Ownership	Fair Value
CDG	Structured deposit -- Bank of Chengdu, Qingbaijiang Branch	-	Financial assets at fair value through profit or loss - current	-	$1,207,333	-	$1,207,333

Note 1: The securities herein shall refer to stocks, bonds, beneficiary certificates and other marketable securities derived from the above items in the scope of IFRS 9-Financial Instruments.
Note 2: Securities issued by non-related parties are not required to fill in this column.
Note 3: For items measured at fair value, the carrying value is the balance of the book value adjusted by fair value valuation less accumulated impairment.
For items not measured at fair value, the carrying value is the book value balance of the historical cost or amortized cost after deducting accumulated impairment.
Note 4: Securities with restrictions because of being provided for security, as pledge or under other covenants should state the number of shares or dollar amount provided for security or pledge and the restriction terms.
Note 5: This table presents the marketable securities that the Company has determined should be disclosed based on the principle of materiality.

Attachment 4
Related party transactions for purchases and sales amounts exceeding NTD 100 million
or 20 percent of capital stock as at for the year ended December 31, 2025
(Dollar amount expressed in thousands of NTD unless otherwise specified)

Company	Counterparty	Relationship	Transaction Details				Details Different from Non-arm's Length Transactions (Note 1)		Notes and Accounts Receivable (Payable)
			Sale/Purchase	Amount	Percentage of Total Sales or Purchases	Term	Unit Price	Terms	Balance	Percentage of Total Receivable (Payable)
TAH	CFG	Affiliate Company	Sales	$(247,267)	(14)%	3 months	-	-	$143,833	13%
TAH	TTAR	Affiliate Company	Sales	(328,355)	(18)%	3 months	-	-	205,137	19%
TAH	TWAR	Affiliate Company	Sales	(131,231)	(7)%	3 months	-	-	117,673	11%
TCD	TGF	Affiliate Company	Sales	(137,914)	(6)%	3 months	-	-	44,493	3%
QFG	TGUS	Affiliate Company	Sales	(110,050)	(7)%	3 months	-	-	1,788	0%
TBF	TGF	Affiliate Company	Sales	(235,926)	(11)%	3 months	-	-	21,131	2%
TYAU	PILKINGTON AUTOMOTIVE DEUTSCHLAND GMBH	Other related party	Sales	(221,337)	(28)%	3 months	-	-	67,576	27%
CFG	TAH	Affiliate Company	Purchases	247,267	17%	3 months	-	-	(143,833)	(18)%
TTAR	TAH	Affiliate Company	Purchases	328,355	33%	3 months	-	-	(205,137)	(32)%
TWAR	TAH	Affiliate Company	Purchases	131,231	17%	3 months	-	-	(117,673)	(48)%

Company	Counterparty	Relationship	Transaction Details				Details Different from Non-arm's Length Transactions (Note 1)		Notes and Accounts Receivable (Payable)
			Sale/Purchase	Amount	Percentage of Total Sales or Purchases	Term	Unit Price	Terms	Balance	Percentage of Total Receivable (Payable)
TGF	TBF	Affiliate Company	Purchases	$235,926	19%	3 months	-	-	(21,131)	(20)%
TGF	TCD	Affiliate Company	Purchases	137,914	11%	3 months	-	-	(44,493)	(42)%
TGUS	QFG	Affiliate Company	Purchases	110,050	31%	3 months	-	-	(1,788)	(100)%
HNG	SCJ	Affiliate Company	Purchases	531,835	20%	3 months	-	-	(549,782)	(55)%
DHG	SCJ	Affiliate Company	Purchases	357,557	22%	3 months	-	-	(159,322)	(22)%
QFG	SCJ	Affiliate Company	Purchases	133,799	13%	3 months	-	-	(169,385)	(20)%
TYAU	Yueda Automobile Development Co., Ltd.	Other related party	Purchases	167,632	15%	3 months	-	-	(99,546)	(33)%

Note 1: If the related parties' trading terms are different from the general trading terms, the differences and reasons for such differences should be stated in the "Unit price" and "Terms" columns.
Note 2: Transactions with advance receipts and prepayments should state the reasons, the terms of agreements, the amount and the difference from general transactions in the Remark column.
Note 3: Paid-in Capital shall refer to the paid-in capital of parent company. If the issuer's stock is not denominated or the denomination is not NTD 10, the transaction amount of 20% of the paid-up capital shall be calculated as 10% of the equity of the parent company on the balance sheet.
Note 4: All transactions listed above are eliminated in the consolidated financial statements except for SCJ, DYK and PILKINGTON AUTOMOTIVE DEUTSCHLAND GMBH.

Attachment 5

Receivables from related parties with amounts exceeding NTD 100 million

or 20 percent of capital stock as at for the year ended December 31, 2025

(Dollar amount expressed in thousands of NTD unless otherwise specified)

Company	Counterparty	Relationship	Ending Balance (Note 1)	Turnover	Overdue Receivables		Received in Subsequent Period	Allowance for Bad Debts
					Amount	Collection
TGI	TGCH	Parent-subsidiary	Other receivables	-	-	-	-	-
			320,083
			Other receivables
TGCH	HNG	Parent-subsidiary	349,232	-	-	-	-	-
			Other receivables
TGUS	TJG	Affiliate Company	223,035	-	-	-	-	-
			Other receivables
CDG	TBF	Affiliate Company	1,341,481	-	-	-	-	-
			Other receivables
CDG	HZSS	Affiliate Company	121,998	-	-	-	-	-
			Other receivables
CDG	TCD	Affiliate Company	2,427,074	-	-	-	-	-
			Other receivables
CDG	TYAU	Affiliate Company	651,962	-	-	-	-	-
			Other receivables
CFG	TCD	Affiliate Company	485,169	-	-	-	-	-
			Other receivables
CFG	TBF	Affiliate Company	290,654	-	-	-	-	-
			Other receivables
CFG	TJG	Affiliate Company	413,668	-	-	-	-	-
			Other receivables
TGF	TCD	Affiliate Company	808,348	-	-	-	-	-
			Other receivables
TGF	TBF	Affiliate Company	571,884	-	-	-	-	-
			Other receivables
DHG	QFG	Affiliate Company	1,047,024	-	-	-	-	-
			Other receivables
DHG	TJG	Affiliate Company	182,452	-	-	-	-	-

Attachment 5

Receivables from related parties with amounts exceeding NTD 100 million

or 20 percent of capital stock as at for the year ended December 31, 2025

(Dollar amount expressed in thousands of NTD unless otherwise specified)

Company	Counterparty	Relationship	Ending Balance (Note 1)	Turnover	Overdue Receivables		Received in Subsequent Period	Allowance for Bad Debts
					Amount	Collection
QFG	QRG	Parent-subsidiary	Other receivables	-	-	-	-	-
			$230,962	-	-	-	-	-
			Other receivables	-	-	-	-	-
HNG	TJG	Affiliate Company	1,320,696	-	-	-	-	-
			Other receivables	-	-	-	-	-
TXY	TBF	Affiliate Company	983,752	-	-	-	-	-
			Other receivables	-	-	-	-	-
TXY	TCD	Affiliate Company	447,160	-	-	-	-	-
			Other receivables	-	-	-	-	-
TTAR	CFG	Affiliate Company	176,494	-	-	-	-	-
			Other receivables	-	-	-	-	-
TTAR	TBF	Affiliate Company	134,148	-	-	-	-	-
			Other receivables	-	-	-	-	-
TWAR	TBF	Affiliate Company	357,728	-	-	-	-	-
			Accounts receivables	-	-	-	-	-
TAH	CFG	Affiliate Company	143,833	-	-	-	-	-
			Accounts receivables	-	-	-	-	-
TAH	TTAR	Affiliate Company	205,137	-	-	-	-	-
			Accounts receivables	-	-	-	-	-
TAH	TWAR	Affiliate Company	117,673	-	-	-	-	-

Note 1: Fill in information such as related parties accounts receivables, notes receivable, other receivables, etc.
Note 2: Paid-in Capital shall refer to the paid-in capital of parent company. If the issuer's stock is not denominated or the denomination is not NTD 10, the transaction amount of $20\%$ of the paid-up capital shall be calculated as $10\%$ of the equity of the parent company on the balance sheet.
Note 3: All transactions listed above are eliminated in the consolidated financial statements.

Attachment 6
Significant intercompany transactions for the year ended December 31, 2025
(Dollar amount expressed in thousands of NTD unless otherwise specified)

No. (Note 1)	Related Party	Counterparty	Relationship with the Company (Note 2)	Transaction Details
				Account	Amount	Terms	Percentage (Note 3)
1	CDG	TBF	3	Other receivables - related parties	$1,341,481		1%
n	n	TCD	3	n	2,427,074		3%
n	n	TYAU	3	n	651,962		1%
2	CFG	TCD	3	n	485,169		1%
3	TGF	TCD	3	n	808,348		1%
n	n	TBF	3	n	571,884		1%
4	DHG	QFG	3	n	1,047,024		1%
5	HNG	TJG	3	n	1,320,696		1%
6	TXY	TBF	3	n	983,752		1%
n	n	TCD	3	n	447,160		0%

Note 1: The Company and its subsidiaries are coded as follows:
1 The Company is coded "0".
2 Subsidiaries are coded consecutively starting from "1" in the order presented in the table above.

Note 2: Transactions are categorized as follows:
1. Parent company to subsidiary
2. Subsidiary to parent company
3. Subsidiary to subsidiary

Note 3: The percentage is determined by the ratio of the transaction amount to the consolidated revenues or the total assets. Items on the balance sheet are calculated by the ending balance to total consolidated assets; items on the income statement are calculated by their cumulative balance to the total consolidated income.

Note 4: The disclosure of significant intercompany transactions in this attachment is determined by the company based on the materiality.

Attachment 7
Names, locations and related information of investee companies as of December 31, 2025
(Dollar amount expressed in thousands of NTD unless otherwise specified)

Company	Investee (Notes 1,2)	Investee (Notes 1,2)	Nature of Business	Initial Investment		Investment as of December 31, 2025			Profit or Loss of Investee (Note 2(2))	Gain or Loss on Investment (Note 2(3))	Remark
				Ending Balance	Beginning Balance	Shares	Percentage of Ownership	Carrying Value
TGI	TGUS	US	Investment in QRG and selling of glasses.	$17,676 USD 461	$17,676 USD 461	4,612	100.00%	$492,965	$20,669	$20,669	Subsidiary
#	TGCH	Bermuda	Investment in QRG, QFG, TGF, CFG, CDG, DHG, HZSS, HNG, TJG, TXY, TTAR, TAH, TWAR, TCD, TBF, SCH and CFG-HK.	30,364,453 USD 966,518	30,364,453 USD 966,518	977,400,651	93.98%	41,970,907	(1,842,081)	(1,694,821)	Subsidiary
#	TAG	Taiwan	Investment in TAGH and selling of auto glasses.	263,582	263,582	26,100,000	87.00%	67,917	(13,732)	(11,680)	Subsidiary
TGCH	SCH	Hong Kong	Investment in Shihlien Chemical Industrial (Jiangsu) Co., Ltd. (SCJ) and Huaian Shihyuan Brine Co., Ltd. (HSB).	7,861,681 USD 252,088	7,861,681 USD 252,088	1,904,445,986	43.99%	6,515,253	(1,451,860)	(Note3)	Affiliated Company
#	CFG-HK	Hong Kong	Investment in holding company.	28 USD 1	28 USD 1	1,000	100.00%	31	(1)	(Note3)	Subsidiary
TAG	TAGH	Bermuda	Investment in TYAU.	188,571 USD 6,000	188,571 USD 6,000	6,000,000	100.00%	5,015	490	(Note3)	Subsidiary

Note 1: A listed company which has a foreign holding company that uses the consolidated financial statements as the master financial report according to its local regulations may disclose information regarding foreign investees only to the extent of the holding company.
Note 2: Fill in information following the instruction below for matters not applied in Note 1 indicated above:
(1) The columns of "Name of investee", "Area Within", "Nature of Business", "Initial Investment" and "Investment as of December 31, 2025" should fill in information of the reinvestment of the listed company, reinvestment of every direct or indirect reinvestment of the investee, and disclose the relationship of the investees with the Company in the Remark column. (Such as subsidiary or sub-subsidiary)
(2) The column of "Profit or Loss of Investee" should fill in the current profit or loss of the investees.
(3) The column of "Gain or Loss on Investment" only require profit / loss of the direct investees and all investees accounted for under the equity method. When filling in the above items, make sure the profit / loss of direct investee subsidiaries include the profit or loss of their reinvestments that are required to be recognized.
Note 3: According to regulations, the amount of investment income (loss) recognized by the Company can be exempted from disclosure.
Note 4: All transactions listed above are eliminated in the consolidated financial statements except for SCH and its investments in mainland China.

Attachment 8
Investment in Mainland China as of December 31, 2025
(Dollar amount expressed in thousands of NTD unless otherwise specified)

Investor	Nature of Business	Total Amount of Paid-in Capital	Investment Method(Note 1)	Accumulated Outflows of Investment from Taiwan as of January 1, 2025	Investment Flows		Accumulated Outflows of Investment from Taiwan as of December 31, 2025	Profit or Loss of Investor company	Percentage of Ownership	Profit or Loss on Investment(Note 2)(ix.)	Carrying Valueas ofDecember 31, 2025	Accumulated toward Remittance of Earnings as of December 31, 2025
					Outflow	Inflow
QRG	Manufacturing of photovoltaic glass	$920,679USD 29,293(Note 19)	(i)	$33,756USD 1,074	$-	$-	$33,756USD 1,074	$(18,869)	94.96%	$(17,918)	$(39,026)	$-
QFG	Manufacturing of flat glasses	2,759,554USD 47,800(Notes 13, 21)	(ii)	1,489,436USD 47,389	-	-	1,489,436USD 47,389	(242,354)	93.98%	(227,764)	577,996	-
CFG	Manufacturing of flat glasses &low-emission glasses	2,954,420USD 94,000(Notes 7, 25)	(ii)	2,388,680USD 76,000	-	-	2,388,680USD 76,000	(419,045)	93.98%	(393,818)	2,535,470	-
FYSS	Manufacturing of silica sand	-(Note 27)	(ii)	66,003USD 2,100	-	-	66,003USD 2,100	-	0.00%	-	-	-
TGF	Manufacturing of glass fabric	3,457,300USD 110,000(Note 12)	(ii)	2,863,776USD 91,116	-	-	2,863,776USD 91,116	384,776	93.98%	361,612	4,349,023	-
CDG	Manufacturing of flat glasses &low-emission glasses	2,200,100USD 70,000(Note 11)	(ii)	1,536,770USD 48,895	-	-	1,536,770USD 48,895	81,421	93.98%	76,520	7,932,076	-
HZSS	Manufacturing of silica sand	330,015USD 10,500	(ii)	330,015USD 10,500	-	-	330,015USD 10,500	(15,340)	93.98%	(14,417)	(36,326)	-
HNG	Manufacturing of flat glasses &low-emission glasses	3,331,580USD 106,000(Note 10)	(ii)	2,781,555USD 88,500	-	-	2,781,555USD 88,500	(504,178)	93.98%	(473,826)	2,763,971	-
DHG	Manufacturing of flat glasses	2,514,400USD 80,000(Notes 8, 13 and 20)	(ii)	1,571,500USD 50,000	-	-	1,571,500USD 50,000	(78,877)	93.98%	(74,128)	3,536,527	-
TJG	Manufacturing of flat glasses &low-emission glasses	3,017,280USD 96,000(Notes 9, 22)	(ii)	1,854,370USD 59,000	-	-	1,854,370USD 59,000	(398,102)	93.98%	(374,137)	(624,898)	-
SCJ	Manufacturing of soda ash	25,144,000USD 800,000(Note 18)	(ii)	5,015,977USD 159,592	-	-	5,015,977USD 159,592	(1,043,357)	41.34%	(431,324)	9,483,548	-
HSB	Manufacturing Brine	1,005,760USD 32,000(Note 15)	(ii)	188,580USD 6,000	-	-	188,580USD 6,000	(78,562)	41.34%	(32,478)	437,689	-
TXY	Manufacturing of flat glasses &low-emission glasses	3,143,000USD 100,000(Note 16)	(ii)	2,042,950USD 45,000	-	-	2,042,950USD 45,000	(90,559)	93.98%	(85,107)	4,498,140	-
TTAR	Manufacturing of low-emission glasses	1,100,050USD 35,000	(ii)	1,100,050USD 35,000	-	-	1,100,050USD 35,000	181,579	93.98%	170,648	1,470,198	-
TAH	Manufacturing of flat glasses	2,671,550USD 85,000	(ii)	2,671,550USD 85,000	-	-	2,671,550USD 85,000	(447,138)	93.98%	(420,220)	2,057,726	-
TYSM	Manufacturing of solar glasses	-(Note 17)	(ii)	1,166,839USD 37,125	-	-	1,166,839USD 37,125	-	0.00%	-	-	-
TWAR	Manufacturing of low-emission glasses	2,319,691USD 73,805(Note 23)	(ii)	1,100,050USD 35,000	-	-	1,100,050USD 35,000	132,447	93.98%	124,474	1,563,695	-
TYAU	Manufacturing of auto glasses	$2,137,240USD 68,000(Note 18)	(ii)	$1,093,764USD 34,800	-	-	1,093,764USD 34,800	5,555	55.77%	3,098	31,708	-
TBF	Manufacturing of glass fabric	1,885,800USD 60,000	(ii)	1,885,800USD 60,000	-	-	1,885,800USD 60,000	180,698	93.98%	169,820	778,385	-
TCD	Manufacturing of glass fabric	4,808,790USD 153,000(Notes 6, 28)	(ii)	2,922,990USD 93,000	-	-	2,922,990USD 93,000	11,215	93.98%	10,540	3,381,963	-
YNSS	Manufacturing of silica sand	-(Note 26)	(ii)	60,943USD 1,939	-	-	60,943USD 1,939	-	0.00%	-	-	-

Accumulated Investment in Mainland China as at December 31, 2025	Investment Amount Authorized by Investment Commission, Ministry of Economic Affairs (Note 4)	Limit on Investment Amount to Mainland China
35,799,714USD 1,139,030(Note 24)	42,047,076USD 1,256,681 and CNY570,174	(Note 5)

Note 1: The methods for engaging in investment in Mainland China include the following:

(i) Direct investment in Mainland China companies.
(ii) Investment in Mainland China companies through a company invested and established in a third region
(iii) Other methods

Note 2: In the column of profit or loss on investment:

(i) The investment still in preparation and not generating profit or loss yet should be noted.
(ii) The gain or loss on investment were determined based on the following:

a. The financial report was audited and certified by an international accounting firm affiliated with an R.O.C. accounting firm

b. The financial statements certificated by the CPA of the parent company in Taiwan

c. Others

Note 3: The amount of this attachment are expressed in New Taiwan Dollars.

Note 4: The investment amount was authorized by Investment Commission, Ministry of Economic Affairs.

Note 5: The Company does not have a limit on investment in Mainland China since it qualified as operation headquarter approved by the Industrial Development Bureau, Ministry of Economic Affairs.

Note 6: TGCH invested USD 5,000 thousand to the entity with its own capital.

Note 7: Additionally, USD 12,000 thousand was invested by a third party through the TGCH.

Note 8: A third party invested USD 3,000 thousand in the entity through the TGCH.

Note 9: A third party invested USD 12,000 thousand in the entity through the TGCH.

Note 10: A third party invested USD 12,000 thousand in the entity through the TGCH.

Note 11: A third party invested USD 21,000 thousand in the entity through the TGCH, which also invested in the entity USD 500 thousand with its own capital.

Note 12: A third party invested USD 21,000 thousand in the entity through the TGCH.

Note 13: QFG, and DDG invested USD 27,800 thousand, and USD13,000 thousand, their unappropriated earnings, respectively in the subsidiary.

Note 14: SCH, the investee of the TGCH, invested USD 640,408 thousand in the entity with its and third party's capital.

Note 15: SCH invested USD 26,000 thousand in the entity with third party's capital.

Note 16: The USD 35,000 thousand earnings distributed by CFG and CDG was invested by TGCH. The Company did not provide any funding.

Note 17: TG Yanda Solar Glass Co., Ltd. announced its liquidation on April 1, 2024, and completed the liquidation process on July 9, 2024. As a result, the Group lost control over the company.

Note 18: TAGH and third party invested additional USD 6,000 thousand and USD 27,200 thousand in the entity, respectively.

Note 19: QFG and TGUS invested USD 23,319 thousand and USD 4,774 thousand in the entity, respectively.

Note 20: DDG raised capital of USD 14,000 thousand through debt for equity swap. The Company did not provide any funding.

Note 21: QFG raised capital of USD 5,000 thousand through debt for equity swap. The Company did not provide any funding.

Note 22: TSG raised capital of USD 25,000 thousand through debt for equity swap. The Company did not provide any funding.

Note 23: USD 38,805 thousand earnings distributed by CDG was invested by TGCH. The Company did not provide any funding.

Note 24: The difference of USD52,000 thousand between the total accumulated investment amount from Taiwan and the accumulated investment amount from Taiwan to Mainland China at the end of the period was due to the adjustment of the investment structure of the Group.

TG Fujian Photovoltaic Glass Co., Ltd. was adjusted to be directly invested by TG Donghai Glass Co., Ltd. as of October 29, 2021. On October 31, 2022 the Company disposed of 100% equity in TG Fujian Photovoltaic Glass Co., Ltd.

Note 25: For the period ended September 30, 2019, the Company merged with TKG. CFG is the surviving company, and TKG is the dissolved company.

Note 26: The third-region invested entity: TGCH lost control of Yinan Silica Sand Co., Ltd. as of October 23, 2020. Accordingly, it was excluded from the consolidated financial statements since the date.

Note 27: The third-region invested entity: TGCH lost control of TG Fengyang Holding Co., Ltd. and indirectly transferred ownership of TG Fengyang Silica Sand Co., Ltd. as of October 15, 2021. Accordingly, it was excluded from the consolidated financial statements since the date.

Note 28: The USD 55,000 thousand earnings distributed by TGF was invested by TGCH. The Company did not provide any funding.

Note 29: All amounts listed above are eliminated in the consolidated financial statements except for SC3 and HSB.

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TGI — Annual Report 2025

51924_rns_2026-04-30_7de4e344-bfb6-4302-bc47-fc99d2aebf9d.pdf

Independent Auditors’ Report Translated from Chinese

Opinion

Basis for Opinion

Key Audit Matters

Valuation of Inventories

Revenue Recognition

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

Auditors’ Responsibilities for the Audit of the Financial Statements

Notice to Readers

(3) Foreign currency transactions

(4) Translation of financial statements in foreign currency

Financial asset measured at fair value through other comprehensive income

Financial asset measured at fair value through profit or loss

B. Impairment of financial assets

Company as a lessee

Company as a lessor

(13) Intangible assets

Sale of goods

(17) Borrowing costs

(18) Post-employment benefits

Defined contribution plan

Defined benefits plan

(15) Provisions

Carbon Fee

(16) Equities

A. Common stock

B. Capital surplus

C. Earnings distribution and dividend policies

(17) Operating revenue

A. Disaggregation of revenue

B. Contract balances

(18) Expected credit (losses)

7. Related party transactions

Name and relationship of related parties

(1) Sales

(2) Purchases

Interest rate risk

Equity price risk

(4) Credit risk management

(6) Reconciliation of liabilities arising from financing activities

(10) Capital management

(11) Information of finance assets transfer

Attachment 5

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TGI Annual Report 2025