TMC - Interim / Quarterly Report 2025

Taiwan Mask Corporation and Subsidiaries Consolidated Financial Statements and Independent Auditor’s Review Report Q1 2025 and 2024 (Stock Code: 2338)

Company address: No. 11, Chuangxin 1st Road, Baoshan, Hsinchu County, Hsinchu Science Park

Telephone: (03)563-4370

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Taiwan Mask Corporation and Subsidiaries

’ Q1 2025 and 2024 Consolidated Financial Statements and Independent Auditor s

Review Report

		Items	Page
I.	Cover		1
II.	Table	of Contents	2 ~ 3
III.	Independent Auditors’ Review Report		4 ~ 5
IV.	Consolidated Balance Sheet		6 ~ 7
V.	Consolidated Statement of Comprehensive Income		8
VI.	Consolidated Statement of Changes in Equity		9
VII.	Consolidated Statement of Cash Flows		10 ~ 11
VIII.	Notes	to the Consolidated Financial Statements	12 ~ 74
	(I)	Company History	12
	(II)	Date and procedures for passing the financial statement	12
	(III)	Application of New and Revised International Financial Reporting
		Standards	12 ~ 13
	(IV)	Summary of Significant Accounting Policies	14 ~ 21
	(V)	Critical Accounting Judgments and Key Sources of Estimation and
		Uncertainty	21
	(VI)	Summary of Significant Accounting Items	21 ~ 55

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	Items	Page
(VII)	Related Party Transactions	55 ~ 57
(VIII)	Pledged Assets	58
(IX)	Significant Contingent Liabilities and Unrecognized Contract
	Commitments	58
(X)	Losses due to Major Disasters	59
(XI)	Major Events after Financial Statement Date	59
(XII)	Others	59 ~ 72
(XIII)	Supplementary Disclosure	72
(XIV)	Segment Information	73 ~ 74

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Independent Auditors’ Review Report (114) Tsai-Sheng-Bao-Zi No. 25000259

To Taiwan Mask Corporation,

Introduction

We have audited the accompanying consolidated balance sheets for the periods ended March 31, 2025 and 2024, and the consolidated statements of comprehensive income, changes in equity and cash flows for the three months starting January 1 and ending March 31, 2025 and 2024, as well as the notes to the consolidated financial statements (including the summary of significant accounting policies), for Taiwan Mask Corporation and its subsidiaries (collectively referred to as the Group). The Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with “Regulations Governing the Preparation of Financial Reports by Securities Issuers” and IAS No. 34, “Interim Financial Reporting” as endorsed by the Financial Supervisory Commission. Our responsibility is to express a conclusion on these consolidated financial statements based on our reviews.

Scope

Except as explained in the following paragraph, we conducted our reviews in accordance with Standards on Review Engagements No. 2410, "Review of Financial Statements" in the Republic of China. The procedures performed when reviewing the consolidated financial statements include inquiries (mainly inquiring personnel responsible for financial and accounting tasks), analytical procedures and other review procedures. The scope of review is obviously smaller than that of audit. Therefore, the accountant may not be able to detect all the significant matters that can be identified through audit, so it is impossible to express an audit opinion.

Basis for qualified opinion

As stated in Note 4 (3) of the consolidated financial statements, the financial statements of the same period of some insignificant subsidiaries included in the abovementioned consolidated financial statements have not been reviewed by the CPA, and the total amounts of their assets as of March 31, 2025 and 2024 were NT$3,371,527 thousand and NT$3,058,361 thousand, accounting for 16.51% and 13.65% of the total consolidated assets, respectively; the total amounts of their liabilities were NT$2,222,784 thousand and NT$2,122,554 thousand, accounting for 13.43% and 12.44% of the total consolidated liabilities, respectively; the total amounts of comprehensive income from January 1 to March 31, 2025 and 2024 were NT$ (152,154) thousand and NT$ (207,956) thousand, accounting for 48.89% and (34.44%) the total consolidated comprehensive income, respectively. As stated in Notes 6 (6) to the Consolidated Financial Statements, part of the investment using the equity method is prepared based on the financial

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statements from each company for the same period not reviewed by an CPA. The balances of such investment using the equity method were NT$81,701 thousand and NT$58,085 thousand, constituting 0.40% and 0.26% of the consolidated total assets as of March 31, 2025 and 2024, respectively. The shares of losses of affiliated companies recognized under the equity method were NT$(8,337) thousand and NT$(9,468) thousand, constituting 2.68% and (1.57%) of the consolidated total comprehensive income for the three months starting January 1 and ending March 31, 2025 and 2024, respectively.

Qualified opinion

Except for the adjustments to the consolidated financial statements, if any, as might have been determined to be necessary had the financial statements of certain consolidated subsidiaries and investments using the equity method been reviewed by independent accountants, that we might have become aware of, had it not been for the situation described above, based on our reviews, nothing has come to our attention that causes us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of the Group as of March 31, 2025 and 2024, and of its consolidated financial performance and its consolidated cash flows for the three months ended March 31, 2025 and 2024 in accordance with “Regulations Governing the Preparation of Financial Reports by Securities Issuers” and IAS No. 34, “Interim Financial Reporting” as endorsed by the Financial Supervisory Commission.

Other matters

As stated in Note 12(4) of the consolidated financial statements, the photomask Group’s debt ratio and current ratio as of March 31, 2025, were 81% and 72%, respectively. The Group has already submitted a sound business plan.

PricewaterhouseCoopers Taiwan

Chien-Yu Liu

CPA

Cheng-Han Chiang

Financial Supervisory Commission approval document number: Jin-Guan-Zheng-Shen-Zi No. 1090350620 Jin-Guan-Zheng-Shen-Zi No. 1130350413

May 5, 2025

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Taiwan Mask Corporation and Subsidiaries Consolidated Balance Sheets March 31, 2025 and December 31 and March 31, 2024

Assets	Notes	March 31, 2025 Amount % $ 1,234,099 6 2,759,320 14 236,080 1 99,870 - 30,265 - 1,171,566 6 1,584 - 49,303 - 1,851 - 494 - 735,622 4 230,404 1 13,380 - 6,563,838 32 196,892 1 674,734 3 471,883 2 10,908,403 54 405,699 2 166,261 1 635,078 3 17,312 - 382,177 2 13,858,439 68 $ 20,422,277 100 (Continued)	December 31, 2024 Amount % $ 1,430,542 7 3,129,075 15 227,534 1 90,967 - 167 - 1,367,379 7 2,383 - 40,137 - 1,306 - 476 - 723,781 4 277,096 1 20,371 - 7,311,214 35 187,241 1 667,051 3 489,392 2 10,382,141 50 424,264 2 167,109 1 654,780 3 25,492 - 506,461 3 13,503,931 65 $ 20,815,145 100	Unit: NT$ Thousand March 31, 2024 Amount % $ 1,562,811 7 1,688,837 8 332,040 1 83,670 - 5,767 - 1,283,125 6 458 - 31,484 - 611 - 1,845 - 735,286 3 374,615 2 14,242 - 6,114,791 27 3,554,028 16 672,045 3 467,353 2 9,466,544 42 550,578 3 169,652 1 677,388 3 22,476 - 713,814 3 16,293,878 73 $ 22,408,669 100
		Amount $ 1,234,099 2,759,320 236,080 99,870 30,265 1,171,566 1,584 49,303 1,851 494 735,622 230,404 13,380 6,563,838 196,892 674,734 471,883 10,908,403 405,699 166,261 635,078 17,312 382,177 13,858,439 $ 20,422,277 (Continued)	Amount $ 1,430,542 3,129,075 227,534 90,967 167 1,367,379 2,383 40,137 1,306 476 723,781 277,096 20,371 7,311,214 187,241 667,051 489,392 10,382,141 424,264 167,109 654,780 25,492 506,461 13,503,931 $ 20,815,145	Amount $ 1,562,811 1,688,837 332,040 83,670 5,767 1,283,125 458 31,484 611 1,845 735,286 374,615 14,242 6,114,791 3,554,028 672,045 467,353 9,466,544 550,578 169,652 677,388 22,476 713,814 16,293,878 $ 22,408,669
Current assets 1100 Cash and Cash Equivalents 1110 Financial Assets at Fair Value Through Profit or Loss - Current 1136 Financial Assets at Amortized Cost - Current 1140 Contract Asset - Current 1150 Notes Receivables (Net) 1170 Accounts Receivables (Net) 1180 Accounts Receivables - Related Parties (Net) 1200 Other Receivables 1210 Other Receivables - Related Parties 1220 Tax Assets for the Period 130X Inventories 1410 Prepayments 1470 Other Current Assets 11XX Total Current Assets Non-Current Assets 1510 Financial Asset at Fair Value Through Profit or Loss - Non Current 1535 Financial Assets at Amortized Cost - Non Current 1550 Investment under Equity Method 1600 Property, plant and equipment 1755 Right-of-use Asset 1760 Investment property (Net) 1780 Intangible assets 1840 Deferred Income Tax Assets 1900 Other Non-Current Assets 15XX Total Non-Current Assets 1XXX Total Assets	6(1) 6(2) and 8 6(3) and 8 6(23) 6(4) 6(4) 6(4) and 7 7 6(5) 6(2) and 8 6(3) and 8 6(6) 6(7) and 8 6(8) 6(10) and 8 6(11) and 8 6(30) 6(13)

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Taiwan Mask Corporation and Subsidiaries Consolidated Balance Sheets March 31, 2025 and December 31 and March 31, 2024

Liabilities and Equities	Notes	March 31,2025 Amount % $ 5,855,422 29 27,740 - 102,967 1 43,473 - 337,673 2 1,309,309 6 1,016 - 10,039 - 3,260 - 33,185 - 1,355,199 7 31,813 - 9,111,096 45 3,613,826 17 3,272,183 16 - - 162,565 1 386,322 2 4,035 - 1,559 - 7,440,490 36 16,551,586 81 2,564,562 13 1,589,959 8 863,958 4 ( 269,945 ) ( 1) 32,547 - ( 1,167,369 ) ( 6) 3,613,712 18 256,979 1 3,870,691 19 $ 20,422,277 100	December 31,2024 Amount % $ 6,200,355 30 19,204 - 64,453 - 43,544 - 541,758 3 1,236,829 6 - - 10,730 - 5,568 - 34,456 - 1,242,279 6 53,072 - 9,452,248 45 3,609,156 17 3,072,808 15 1,500 - 162,297 1 402,942 2 7,474 - 34,812 - 7,290,989 35 16,743,237 80 2,564,562 12 1,532,041 8 863,958 4 581,828 3 20,148 - ( 1,167,369) ( 6) 4,395,168 21 ( 323,260) ( 1) 4,071,908 20 $ 20,815,145 100	Unit: NT$ Thousand March 31,2024 Amount % $ 6,417,737 29 11,059 - 164,830 1 10,676 - 407,316 2 1,647,521 7 229 - 46,963 - 3,260 - 40,869 - 1,171,206 5 19,055 - 9,940,721 44 3,429,292 15 2,957,306 13 - - 161,791 1 522,318 3 9,505 - 40,073 - 7,120,285 32 17,061,006 76 2,564,465 11 1,440,745 6 827,460 4 1,764,833 8 11,621 - ( 1,167,369) ( 5 ) 5,441,755 24 ( 94,092) - 5,347,663 24 $ 22,408,669 100
		Amount $ 5,855,422 27,740 102,967 43,473 337,673 1,309,309 1,016 10,039 3,260 33,185 1,355,199 31,813 9,111,096 3,613,826 3,272,183 - 162,565 386,322 4,035 1,559 7,440,490 16,551,586 2,564,562 1,589,959 863,958 ( 269,945 ) 32,547 ( 1,167,369 ) 3,613,712 256,979 3,870,691 $ 20,422,277	Amount $ 6,200,355 19,204 64,453 43,544 541,758 1,236,829 - 10,730 5,568 34,456 1,242,279 53,072 9,452,248 3,609,156 3,072,808 1,500 162,297 402,942 7,474 34,812 7,290,989 16,743,237 2,564,562 1,532,041 863,958 581,828 20,148 ( 1,167,369) 4,395,168 ( 323,260) 4,071,908 $ 20,815,145	Amount $ 6,417,737 11,059 164,830 10,676 407,316 1,647,521 229 46,963 3,260 40,869 1,171,206 19,055 9,940,721 3,429,292 2,957,306 - 161,791 522,318 9,505 40,073 7,120,285 17,061,006 2,564,465 1,440,745 827,460 1,764,833 11,621 ( 1,167,369) 5,441,755 ( 94,092) 5,347,663 $ 22,408,669
Current liabilities 2100 Short Term Loans 2120 Financial Liabilities at Fair Value Through Profit or Loss - Current 2130 Contract Liabilities - Current 2150 Notes Payable 2170 Accounts Payable 2200 Other Payables 2220 Other Payables - Related Parties 2230 Income Tax Liabilities for the Period 2250 Provision for Liabilities - Current 2280 Lease Liability - Current 2320 Long-term liabilities due within one year or one business cycle 2399 Other Current Liabilities - Other 21XX Total Current Liabilities Non-current liabilities 2530 Corporate bonds payable 2540 Long-term Loans 2550 Provision for Liabilities - Non- current 2570 Deferred Income Tax. 2580 Lease liability - Non Current 2640 Defined Benefit Liabilities - Non Current 2645 Guarantee Deposits Received 25XX Total Non-Current Liabilities 2XXX Total Liabilities Equity attributable to shareholders of the parent company Capital 3110 Capital stock Capital surplus 3200 Capital surplus Retained earnings 3310 Legal reserve 3350 Unappropriated earnings Other equity interests 3400 Other equity interests 3500 Treasury stock 31XX Total Equities Attributable to Parent Company 36XX Non-controlling Interests 3XXX Total Equities Major Commitments and Contingencies Major Events after Financial Statement Date 3X2X Total Liabilities and Equities	6(14) and 7 6(2) 6(23) 6(15) 7 6(17) 6(16) 6(17) 6(30) 6(18) 6(19) 6(20) 6(21) 6(22) 6(19) and 8 9 11

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

Chairman: Sean Chen

Managerial Officer: Lidon Chen Accounting Officer: Yu-Ming Fan

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Taiwan Mask Corporation and Subsidiaries Consolidated Statement of Comprehensive Income January 1 to March 31, 2025 and 2024

Unit: NT$ Thousand (Except for earnings per share)

Items	From January 1 to March 31, 2025 From January 1 to March 31, 2024 Notes Amount % Amount % 6(23) and 7 $ 1,627,957 100 $ 1,850,048 100 6(5) and 7 ( 1,445,763 ) ( 89) ( 1,519,846)( 82 ) 182,194 11 330,202 18 6(28)(29) and 7 ( 96,176 ) ( 6) ( 76,696 ) ( 4 ) ( 114,092 ) ( 7) ( 152,610 ) ( 8 ) ( 87,711 ) ( 5) ( 103,588 ) ( 6 ) 12(2) ( 21,245 ) ( 1) ( 12,919)( 1 ) ( 319,224 ) ( 19) ( 345,813)( 19 ) ( 137,030 ) ( 8) ( 15,611)( 1 ) 6(24) 3,343 - 7,562 - 6(25) and 7 16,690 1 8,444 1 6(26) ( 103,067 ) ( 6) 719,776 39 6(27) and 7 ( 81,443 ) ( 5) ( 79,205 ) ( 4 ) 6(6) ( 7,291 ) ( 1) ( 10,600)( 1 ) ( 171,768 ) ( 11) 645,977 35 ( 308,798 ) ( 19) 630,366 34 6(30) ( 14,806 ) ( 1) ( 36,453)( 2 ) ( $ 323,604 ) ( 20) $ 593,913 32 6(22) $ 12,399 1 $ 9,980 1 $ 12,399 1 $ 9,980 1 ( $ 311,205 ) ( 19) $ 603,893 33 ( $ 256,935 ) ( 16) $ 674,209 36 ( 66,669 ) ( 4) ( 80,296)( 4 ) ( $ 323,604 ) ( 20) $ 593,913 32 ( $ 244,536 ) ( 15) $ 684,189 37 ( 66,669 ) ( 4) ( 80,296)( 4 ) ( $ 311,205 ) ( 19) $ 603,893 33 6(31) ( $ 1.20) $ 3.16 ( $ 1.20) $ 2.88
4000 Operating income 5000 Operating costs 5900 Gross profit Operating Expenses 6100 Selling Expenses 6200 Administrative Expenses 6300 R&D Expenses 6450 Expected loss on credit impairment 6000 Total Operating Expenses 6900 Operating loss Non-operating income and expenses 7100 Interest income 7010 Other Incomes 7020 Other Gains and Losses 7050 Financial Costs 7060 The share of affiliates and joint venture profits and losses recognized by the equity method 7000 Total Non-Operating Incomes and Losses 7900 Net loss/profit before tax 7950 Income Tax Expense 8200 Net (loss) profit for the period Other Comprehensive Incomes (Net) Components of other comprehensive income that will not be reclassified to profit or loss Components of other comprehensive income that will be reclassified to profit or loss 8361 Financial statement translation differences of foreign operations 8300 Other Comprehensive Incomes (Net) 8500 Total comprehensive income for the year Net Incomes (Losses) Attributable to: 8610 Parent Company 8620 Non-controlling Interests Total Total Comprehensive Incomes (Losses) Attributable to: 8710 Parent Company 8720 Non-controlling Interests Total Earnings (loss) per share 9750 Basic 9850 Diluted

Items

From January 1 to March 31,
2025
From January 1 to March 31,
2024
Notes
Amount
%
Amount
%
6(23) and 7
$ 1,627,957
100
$ 1,850,048
100
6(5) and 7
(
1,445,763 ) (
89) (
1,519,846)(
82 )
182,194
11
330,202
18
6(28)(29) and 7
(
96,176 ) (
6) (
76,696 ) (
4 )
(
114,092 ) (
7) (
152,610 ) (
8 )
(
87,711 ) (
5) (
103,588 ) (
6 )
12(2)
(
21,245 ) (
1) (
12,919)(
1 )
(
319,224 ) (
19) (
345,813)(
19 )
(
137,030 ) (
8) (
15,611)(
1 )
6(24)
3,343
-
7,562
-
6(25) and 7
16,690
1
8,444
1
6(26)
(
103,067 ) (
6)
719,776
39
6(27) and 7
(
81,443 ) (
5) (
79,205 ) (
4 )
6(6)
(
7,291 ) (
1) (
10,600)(
1 )
(
171,768 ) (
11)
645,977
35
(
308,798 ) (
19)
630,366
34
6(30)
(
14,806 ) (
1) (
36,453)(
2 )
( $ 323,604 ) (
20) $ 593,913
32
6(22)
$ 12,399
1
$ 9,980
1
$ 12,399
1
$ 9,980
1

( $ 311,205 ) (
19) $ 603,893
33
( $ 256,935 ) (
16) $ 674,209
36
(
66,669 ) (
4) (
80,296)(
4 )
( $ 323,604 ) (
20) $ 593,913
32
( $ 244,536 ) (
15) $ 684,189
37
(
66,669 ) (
4) (
80,296)(
4 )
( $ 311,205 ) (
19) $ 603,893
33
6(31)
( $ 1.20) $ 3.16
( $ 1.20) $ 2.88

4000
Operating income
5000
Operating costs
5900
Gross profit
Operating Expenses
6100
Selling Expenses
6200
Administrative Expenses
6300
R&D Expenses
6450
Expected loss on credit impairment
6000
Total Operating Expenses
6900
Operating loss
Non-operating income and expenses
7100
Interest income
7010
Other Incomes
7020
Other Gains and Losses
7050
Financial Costs
7060
The share of affiliates and joint
venture profits and losses
recognized by the equity method
7000
Total Non-Operating Incomes
and Losses
7900
Net loss/profit before tax
7950
Income Tax Expense
8200
Net (loss) profit for the period
Other Comprehensive Incomes
(Net)
Components of other
comprehensive income that will not
be reclassified to profit or loss
Components of other
comprehensive income that will be
reclassified to profit or loss
8361
Financial statement translation
differences of foreign operations
8300
Other Comprehensive Incomes
(Net)
8500
Total comprehensive income for the
year
Net Incomes (Losses) Attributable to:
8610
Parent Company
8620
Non-controlling Interests
Total
Total Comprehensive Incomes
(Losses) Attributable to:
8710
Parent Company
8720
Non-controlling Interests
Total
Earnings (loss) per share
9750
Basic
9850
Diluted

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

Chairman: Sean Chen Managerial Officer: Lidon Chen Accounting Officer: Yu-Ming Fan

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Taiwan Mask Corporation and Subsidiaries Consolidated Statement of Changes in Equity January 1 to March 31, 2025 and 2024

Unit: NT$ Thousand

Notes			Equity a	ttributableto shareh	ttributableto shareh	ders of the parentcompany	ders of the parentcompany				Non- controlling Interests
	Capitalstock	Capitalsurplus	Retaine	d earnings		Otherequityinterests		Treasury stock		Total
			Legal reserve		Unappropriated earnings	Financial statement translation differences of foreign operations	Unrealized gain (loss) on investments on financial assets at fair value through other comprehensive income
6(22) 6(21) 6(20) 6(19) 6(22) 6(20) 4(3)	$ 2,564,465 - - - - - - $ 2,564,465 $ 2,564,562 - - - - - $ 2,564,562	$ 1,439,959 - - - - 786 - $ 1,440,745 $ 1,532,041 - - - 57,918 - $ 1,589,959	$ 827,460 - - - - - - $ 827,460 $ 863,958 - - - - - $ 863,958	$ 1,464,101 674,209 - 674,209 ( 373,477 ) - - $ 1,764,833 $ 581,828 ( 256,935 ) - ( 256,935 ) - ( 594,838 ) ( $ 269,945 )		$ 4,307 - 9,980 9,980 - - - $ 14,287 $ 22,814 - 12,399 12,399 - - $ 35,213	($ 2,666 ) - - - - - - ($ 2,666 ) ($ 2,666 ) - - - - - ($ 2,666 )	($ 1,174,484 ) - - - - - 7,115 ($ 1,167,369 ) ($ 1,167,369 ) - - - - - ($ 1,167,369 )	$ 5,123,142 674,209 9,980 684,189 ( 373,477 ) 786 7,115 $ 5,441,755 $ 4,395,168 ( 256,935 ) 12,399 ( 244,536 ) 57,918 ( 594,838 ) $ 3,613,712		($ 13,238 ) ( 80,296 ) - ( 80,296 ) - ( 558 ) - ($ 94,092 ) ($ 323,260 ) ( 66,669 ) - ( 66,669 ) 52,070 594,838 $ 256,979	$ 5,109,904 593,913 9,980 603,893 ( 373,477 ) 228 7,115 $ 5,347,663 $ 4,071,908 ( 323,604 ) 12,399 ( 311,205 ) 109,988 - $ 3,870,691

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

Chairman: Sean Chen

Managerial Officer: Lidon Chen

Accounting Officer: Yu-Ming Fan

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Taiwan Mask Corporation and Subsidiaries Consolidated Statements of Cash Flows January 1 to March 31, 2025 and 2024

Unit: NT$ Thousand

Cash Flow from Operating Activities
Net (loss) profit before tax for the period
Adjustments to Reconcile Net Income to Net Cash
Flow from Operating Activities
Revenues and Expenses
Depreciation

Amortization

Expected loss on credit impairment

Interest income

Interest Expenses

Subsidiaries donated treasury stock

Net loss/profit of financial assets and
liabilities at fair value through profit or
loss

Gain (loss) on disposal of investments

Share of losses of affiliated companies
recognized under the equity method

Disposal of interests in property, plant and
equipment

Gain on lease modifications

Goodwill impairment loss

The Changes of Assets/ Liabilities related to
Operating Activities
Net Changes of Assets related to Operating
Activities
Mandatory financial assets at fair value
through profit or loss
Contract Assets
Notes Receivables
Accounts Receivables
Accounts Receivables－Related Parties
Other Receivables
Other Receivables－Related Parties
Inventories
Prepayments
Other Current Assets
Other Non-Current Assets
Net Changes of Liabilities related to
Operating Activities
Contract Liabilities
Notes Payable
Accounts Payable
Other Payables
Other Payables- related Parties
Provisions
Other Current Liabilities
Defined Benefit Liabilities
Net Cash In-Flow from Operating
Interest Received
Interest Paid
Income Tax Paid
Net Cash In-Flow (Out-Flow) from
Operating Activities Notes
From January 1 to
March 31, 2025
From January 1 to
March 31, 2024
( $ 308,798 ) $ 630,366
6(7)(8)(10)(28)
357,300
307,621
6(11)(28)
19,482
30,065
12(2)
21,245
12,919
6(24)
(
3,343 ) (
7,562 )
6(27)
81,443
79,205
7
-
7,115
6(2)(26)
153,736 (
698,087 )
6(6)(26)
(
45,719 )
-
6(6)
7,291
10,600
6(26)
(
15,921 ) (
14,117 )
6(8)(26)
(
24 ) (
868 )
6(11)(12)(26)
-
27,390
214,904 (
20,388 )
(
8,903 )
21,593
(
30,098 )
282
174,568
182,762
799 (
432 )
(
9,166 ) (
2,481 )
(
545 ) (
204 )
(
11,841 ) (
33,463 )
50,623 (
48,228 )
6,991 (
3,468 )
306
47
38,514 (
9,708 )
(
71 )
10,610
(
204,085 ) (
56,576 )
129,392
19,311
1,016
-
(
3,808 ) (
1,253 )
(
21,259 ) (
38,596 )
(
3,439) (
1,143)
590,590
403,312
3,343
7,562
(
67,990 ) (
74,513 )
(
7,067) (
4,869)
518,876
331,492
(Continued)

~10~

Taiwan Mask Corporation and Subsidiaries Consolidated Statements of Cash Flows January 1 to March 31, 2025 and 2024

Unit: NT$ Thousand

Cash Flow from Investment Activities
Acquisition of Amortized Cost Financial Assets

Disposal of Amortized Cost Financial Assets

Acquisition of investment property by the Equity
Method

Proceeds from disposal of investments accounted
for using the equity method

Acquisition of Property, Plants and Equipment

Disposal of Property, Plants and Equipment

Acquisition of Intangible Assets

Increase in refundable deposit
Decrease of Guarantee Deposits
Net Cash Outflow from Investing
Activities
Cash Flows from Financing Activities
Increase of Short Term Loan

Redemption of Short Term Loan

Increase of Long Term Loan

Redemption of Long Term Loan

Other Payables- related Parties

Redemption of Lease Principal

Decrease of Guarantee Deposits Received

Increase in Guarantee Deposits Received

Cash increase of non-controlling equity in
Subsidiaries

Net Cash In-Flow (Out-Flow) from
Funding Activities
Adjustments of Exchange Rate
Net increase (decrease) in cash and cash equivalents
Beginning Balance of Cash and Cash Equivalents
Ending Balance of Cash and Cash Equivalents

Notes
From January 1 to
March 31, 2025
From January 1 to
March 31, 2024
6(3)
( $ 16,082 ) ( $ 85,516 )
6(3)
5,000
5,860
6(6)
- (
410,400 )
6(6)
56,302
-
6 (7)(32)
(
815,760 ) (
416,066 )
6(7)
16,116
25,101
6(11)
(
117 ) (
3,108 )
(
11,793 ) (
391 )
14,450
-
(
751,884 ) (
884,520 )
6 (33)
2,796,696
2,646,202
6 (33)
(
3,141,689 ) (
1,656,423 )
6 (33)
804,500
151,736
6 (33)
(
495,681 ) (
370,806 )
7
- (
75 )
6 (33)
(
10,768 ) (
12,868 )
6 (33)
(
33,277 ) (
2,209 )
6 (33)
24
-
4(3)
109,796
-
29,601
755,557
6,964 (
3,824 )

(
196,443 )
198,705
1,430,542
1,364,106
6(1)
$ 1,234,099 $ 1,562,811

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

Managerial Officer: Lidon Chen Accounting Officer: Yu-Ming Fan

Chairman: Sean Chen

~11~

Taiwan Mask Corporation and Subsidiaries Notes to the Consolidated Financial Statements

Q1 2025 and 2024

Unit: NT$ Thousand (Unless otherwise specified)

I. Company History

Taiwan Mask Corporation (hereinafter referred to as the "Company") was established on October 21, 1988, and started its operations in March 1989. The Company was approved by the shareholders meeting on June 12, 2000 to acquire Shin-Tai Technology Co., Ltd., on the merger record date of December 1, 2000, with the Company being the surviving entity. The Company and its subsidiary (collectively referred to as the "Group") mainly engage in the research, development, manufacturing and sales of photomask and integrated circuits, providing technical assistance, consultation, inspection and repair of the abovementioned products, and manufacturing and buying and selling of medical equipment.

II. Date and procedures for passing the financial statement

The consolidated financial statements were reported to the Board of Directors and issued on May 5, 2025.

III. Application of New and Revised International Financial Reporting Standards

(I) The impact from adopting the newly released and revised IFRS and IAS recognized and issued into effect by the Financial Supervisory Commission (FSC).

The following table summarizes the applicable newly released, corrected and amended standards and interpretations of the IFRS and IAS recognized and issued into effect by the Financial Supervisory Commission in 2025:

Newly released/corrected/amended standards and interpretations Amendments to IAS No. 21 "Lack of Exchangeability"	Effective Date Issued by
	IASB January 1, 2025

The Group believes that the adoption of aforementioned IFRSs will not have a significant effect on the financial position and performance.

(II) Impact of the newly released and amended IFRS and IAS recognized by the FSC not yet adopted by the Company.

The following table summarizes the applicable newly released, corrected and amended standards and interpretations of the IFRS and IAS recognized by the Financial Supervisory Commission in 2025:

~12~

Effective Date Issued by Newly released/corrected/amended standards and interpretations IASB Amendments to certain provisions of IFRS 9 and IFRS 7 regarding the January 1, 2026 “Amendments to the Classification and Measurement of Financial Instruments”

The Group believes that the adoption of aforementioned IFRSs will not have a significant effect on the financial position and performance.

(III) IFRS and IAS issued by the IASB but not yet recognized by the FSC.

The following table summarizes the applicable newly released, corrected and amended standards and interpretations of the IFRS and IAS issued by the IASB but not yet recognized by the FSC:

Amendments to IFRS 9 and IFRS 7, Sale “Power Purchase Agreement” January 1, 2026

IFRS 10 and IAS 28 amendments, Sale or contribution of assets To be determined by the between an investor and its associate or joint venture IASB IFRS 17 - Insurance contracts January 1, 2023 Amendment to IFRS 17 - Insurance contracts January 1, 2023 Amendments to IFRS 17 "First-time Adoption of IFRS 17 and IFRS 9 - January 1, 2023 Comparative Information" IFRS 18 “Presentation and Disclosure in Financial Statements” January 1, 2027 IFRS 19 “Subsidiaries without Public Accountability: Disclosures” January 1, 2027

Annual Improvements to IFRS Accounting Standards - Volume 11 January 1, 2026

The Group believes that the adoption of aforementioned IFRSs will not have a significant effect on the financial position and performance, except for the following:

IFRS 18 “Presentation and Disclosure in Financial Statements”

IFRS 18 “Presentation and Disclosure in Financial Statements” replaces IAS 1, updates the structure of comprehensive income statement, requires the disclosure of management-defined performance measures, and enhances the principles for grouping and classifying information for main financial statements and notes.

~13~

IV. Summary of Significant Accounting Policies

Significant accounting policies are the same as those in Note 4 of the 2024 consolidated financial statements, except for the compliance statements, basis of preparation, basis of consolidation, and applicable parts of interim financial statements. These policies have been consistently applied to all the periods presented, unless otherwise stated.

(I) Compliance statement

The consolidated financial statements of the Group have been prepared in accordance with the “Regulations Governing the Preparation of Financial Reports by Securities Issuers” and the IAS No. 34, “Interim Financial Reporting” as endorsed by the FSC.
The consolidated financial statements should be read in conjunction with the 2024 consolidated financial statements.

(II) Basis of Preparation

Except for the following items, these consolidated financial statements have been prepared under the historical cost convention.
(1) Financial assets and financial liabilities at fair value through profit or loss (including derivatives).
(2) Financial Assets at Fair Value Through Other Comprehensive Income.
(3) Defined benefit liabilities recognized based on the net amount of pension fund assets less present value of defined benefit obligation.
The preparation of financial statements in conformity with IFRS, IAS, IFRIC Interpretations, and SIC Interpretations as endorsed by the FSC (collectively referred herein as the “IFRSs”) requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 5.

(III) Basis of consolidation

The basis for preparation of consolidated financial statements
The principles for preparing the consolidated financial statements are the same as those for the 2024 consolidated financial statements.
Subsidiaries included in the consolidated financial statements:

Name of Investor Name of Subsidiary	Ownership (%) Main Business Activity March 31, 2025 Name of Investor 100 Name of Investor 100 Electronics components manufacturing, electronics materials and precision equipment distribution and power component design 100	December 31, 2024 100 100 100	March 31, 2024 100 100 100	Explanation
Taiwan Mask Corporation SunnyLake Park International Holding, Inc. Taiwan Mask Corporation Youe Chung Capital Corporation Taiwan Mask Corporation Miracle Technology CO., LTD.				Note 5

~14~

			Ownership (%)
Name of Investor	Name of Subsidiary	Main Business Activity	March 31, 2025	December 31, 2024	March 31, 2024	Explanation
Taiwan Mask	Innova Vision INC.	Manufacturing, retail,	66.71	75.32	75.32	Note 4,
Corporation		wholesale and				Note 5
		international trade of
		medical equipment
Taiwan Mask	One Test Systems	Research, development	100	100	100	Note 5
Corporation		and design of test
		equipment and related
		components
Taiwan Mask	Pilot Energy Co.,	Electronic parts and	20.00	20.00	20.00	Note 3,
Corporation	Ltd.	components and energy				Note 5
		technical services
Youe Chung	Innova Vision INC.	Manufacturing, retail,	0.13	0.19	0.19	Note 4,
Capital		wholesale and				Note 5
Corporation		international trade of
		medical equipment
Youe Chung	Aptos Technology	Design, packaging and	47.19	47.19	47.19	Note 2,
Capital	INC.	testing of NAND flash				Note 5
Corporation		memory, solid state
		drives and the related
		products
Youe Chung	Xsense Technology	Name of Investor	100	100	100	Note 5
Capital	Corporation
Corporation
Youe Chung	Xsense Technology	Precious metal coating	53.00	53.00	53.00	Note 5
Capital	Corporation (B.V.I.)
Corporation	Taiwan Branch
Youe Chung	Digital-Can Tech.	3D Printing and Plastic	57.39	57.39	57.39	Note 5
Capital	Co., Ltd.	Mold Design
Corporation
Youe Chung	Pilot Energy Co.,	Electronic parts and	38.89	38.89	38.89	Note 3,
Capital	Ltd.	components and energy				Note 5
Corporation		technical services
Youe Chung	Moment	Retail and wholesale of	52.84	52.84	53.33	Note 1,
Capital	Semiconductor, Inc.	memory products				Note 5
Corporation
Aptos	New Sunrise	Name of Investor	100	100	100	Note 5
Technology INC.	Limited
Pilot Energy Co.,	ADL Energy Corp	Electronic parts and	100	100	100	Note 5
Ltd.		components and energy
		technical services
ADL Energy	Aptos Global	Name of Investor	100	100	100	Note 5
Corp	Holding Corp.
Miracle	Jing Hao Investment	Name of Investor	100	100	100	Note 5
Technology CO.,	Co., Ltd.
LTD.
Miracle	Miracle	Electronics components	100	100	100	Note 5
Technology CO.,	International	manufacturing,
LTD.	Enterprise	electronics materials and
	(Shanghai) Co., Ltd.	precision equipment
		distribution and power
		component design

~15~

			Ownership (%)
Name of Investor	Name of Subsidiary	Main Business Activity	March 31, 2025	December 31, 2024	March 31, 2024	Explanation
Jing Hao	Miko-China	Electronics components	100	100	100	Note 5
Investment Co.,	Enterprise	manufacturing,
Ltd.	(Shanghai) Co., Ltd.	electronics materials and
		precision equipment
		distribution and power
		component design
Jing Hao	MIKO Technology	Electronics components	100	100	100	Note 5
Investment Co.,	Co., Ltd.	manufacturing,
Ltd.		electronics materials and
		precision equipment
		distribution and power
		component design
Miko-China	Sichuan Miracle	IC product design,	79.17	79.17	79.17	Note 5
Enterprise	Power Technology	production and sales
(Shanghai) Co.,	Co., Ltd.
Ltd.
Miracle	Sichuan Miracle	IC product design,	20.83	20.83	20.83	Note 5
International	Power Technology	production and sales
Enterprise(Shang	Co., Ltd.
hai) Co., Ltd.
Innova Vision	Innova Technology	Medical equipment	100	100	100	Note 5
INC.		retail and wholesale
Innova Vision	Innova Vision	Name of Investor	100	100	100	Note 5
INC.	(B.V.I.) Inc.
Innova Vision	iPro Vision Inc.	Medical equipment	52.03	52.03	52.03	Note 5
INC.		retail and wholesale
Innova Vision	iPro Vision Inc.	Medical equipment	47.97	47.97	47.97	Note 5
(B.V.I.) Inc.		retail and wholesale

Note 1: In March 2023, the Company’s subsidiary, Youe Chung Capital Corporation, invested in Moment Semiconductor, Inc. with 53.33% shareholding. Moment Semiconductor, Inc. organized capital increase in cash by issuing new shares in September 2024. Youe Chung Capital Corporation did not execute based on shares proportion, so the shareholding declined from 53.33% to 52.84%; a capital reserve of NT$410 was recognized.
Note 2: The Company's subsidiary, Youe Chung Capital Corporation, which holds a majority of the Board of Directors of the company, has substantial control over the company and therefore included the company in the consolidated financial statements as a consolidated entity.
Note 3: Pilot Battery Co., Ltd. was renamed Pilot Energy Co., Ltd. in April 2024.
Note 4: The Company and its subsidiary, Youe Chung Capital Corporation, originally held 75.32% and 0.19% of the shares, respectively. In January 2025, Innova Vision Inc. conducted a capital increase through a cash capital increase of NT$200,000. Although the Company and its subsidiary participated in the subscription, they did not subscribe in proportion to their original shareholding percentages. As a result, their ownership decreased from 75.32% and 0.19% to 66.71% and 0.13%, respectively. A capital reserve of NT$57,918 was recognized.
Note 5: The financial statements of the entity as of and for the three months ended March

~16~

31, 2025 and 2024 were not reviewed by independent accountants as the entity did not meet the definition of a significant subsidiary.

Subsidiaries not included in the consolidated financial statement: None.
Adjustments for subsidiaries with different balance sheet dates: None.
Significant restrictions: None.
Subsidiaries that have non-controlling interests that are material to the Corporate Group:

The total non-controlling interests of the Group as of March 31, 2025, December 31 and March 31, 2024 were NT$256,979, (NT$323,260) and (NT$94,092), respectively. The following information shows subsidiaries that have non-controlling interests that are material to the Group:

Non-controlling Interests

2025 Ownership	December 31, 2024 Ownership percentage Amount ($ 372,100) 52.81% ( 163,673) 47.00% 176,835 41.11% March 31, 2024 Ownership percentage Amount ($ 276,825) 52.81% ( 89,501) 47.00% 209,517 41.11%	Explanation
percentage 52.81% 47.00% 41.11%	percentage 52.81% 47.00% 41.11% Ownership percentage 52.81% 47.00% 41.11%
		Explanation

~17~

Aggregate financial information of subsidiaries: Balance Sheet

Aptos Technology and its subsidiaries

	March 31, 2025	March 31, 2025	December 31, 2024	March 31, 2024	March 31, 2024
Current assets	$	114,875	$ 103,917	$	186,969
Non-Current		338,971	357,565		432,535
Assets
Current liabilities	(	929,202)	( 908,842)	(	829,024)
Non-current	(	242,042)	( 257,219)	(	314,657)
liabilities
Total net assets	($	717,398)	($ 704,579)	($	524,177)
		Xsense Technology Corporation (B.V.I.) Taiwan Branch
		March 31, 2025	December 31, 2024	March 31, 2024
Current assets		$ 223,282	$ 296,422	$	445,170
Non-Current Assets		219,115	250,523		271,721
Current liabilities		( 727,259)	( 741,059)	(	807,260)
Non-current liabilities		( 139,833)	( 154,097)	(	100,045)
Total net assets		($ 424,695)	($ 348,211)	($	190,414)
		Pilot Energy Co., Ltd. and its subsidiaries
		March 31, 2025	December 31, 2024	March 31, 2024
Current assets		$ 211,930	$ 246,193	$	433,734
Non-Current Assets		405,320	388,182		165,417
Current liabilities		( 144,563)	( 166,838)	(	96,151)
Non-current liabilities		( 188,578)	( 165,666)	(	129,750)
Total net assets		$ 284,109	$ 301,871	$	373,250

~18~

Statement of Comprehensive Income

Aptos Technology and its subsidiaries From January 1 to March 31, 2025 From January 1 to March 31, 2024 Revenue $ 61,324 $ 53,890 Net loss before taxes ( 12,819) ( 54,103) Income tax benefits - - Net loss of current period from continuing operations ( 12,819) ( 54,103) Net loss ( 12,819) ( 54,103) Other comprehensive income (net after tax) - - Total comprehensive income for the year ($ 12,819) ($ 54,103) Xsense Technology Corporation (B.V.I.) Taiwan Branch From January 1 to March 31, 2025 From January 1 to March 31, 2024 Revenue $ 74,688 $ 156,422 Net loss before taxes ( 76,484) ( 35,818) Income tax benefits - - Net loss of current period from continuing operations ( 76,484) ( 35,818) Net loss ( 76,484) ( 35,818) Other comprehensive income (net after tax) - - Total comprehensive income for the year ($ 76,484) ($ 35,818) Pilot Energy Co., Ltd. and its subsidiaries From January 1 to March 31, 2025 From January 1 to March 31, 2024 Revenue $ 28,581 $ 57,968 Net loss before taxes ( 20,094) ( 28,707) Income tax benefits - - Net loss of current period from continuing operations ( 20,094) ( 28,707) Net loss ( 20,094) ( 28,707) Other comprehensive income (net after tax) - - Total comprehensive income for the year ($ 20,094) ($ 28,707)	Aptos Technology and its subsidiaries From January 1 to March 31, 2025 From January 1 to March 31, 2024 Revenue $ 61,324 $ 53,890 Net loss before taxes ( 12,819) ( 54,103) Income tax benefits - - Net loss of current period from continuing operations ( 12,819) ( 54,103) Net loss ( 12,819) ( 54,103) Other comprehensive income (net after tax) - - Total comprehensive income for the year ($ 12,819) ($ 54,103) Xsense Technology Corporation (B.V.I.) Taiwan Branch From January 1 to March 31, 2025 From January 1 to March 31, 2024 Revenue $ 74,688 $ 156,422 Net loss before taxes ( 76,484) ( 35,818) Income tax benefits - - Net loss of current period from continuing operations ( 76,484) ( 35,818) Net loss ( 76,484) ( 35,818) Other comprehensive income (net after tax) - - Total comprehensive income for the year ($ 76,484) ($ 35,818) Pilot Energy Co., Ltd. and its subsidiaries From January 1 to March 31, 2025 From January 1 to March 31, 2024 Revenue $ 28,581 $ 57,968 Net loss before taxes ( 20,094) ( 28,707) Income tax benefits - - Net loss of current period from continuing operations ( 20,094) ( 28,707) Net loss ( 20,094) ( 28,707) Other comprehensive income (net after tax) - - Total comprehensive income for the year ($ 20,094) ($ 28,707)	Aptos Technology and its subsidiaries From January 1 to March 31, 2025 From January 1 to March 31, 2024 Revenue $ 61,324 $ 53,890 Net loss before taxes ( 12,819) ( 54,103) Income tax benefits - - Net loss of current period from continuing operations ( 12,819) ( 54,103) Net loss ( 12,819) ( 54,103) Other comprehensive income (net after tax) - - Total comprehensive income for the year ($ 12,819) ($ 54,103) Xsense Technology Corporation (B.V.I.) Taiwan Branch From January 1 to March 31, 2025 From January 1 to March 31, 2024 Revenue $ 74,688 $ 156,422 Net loss before taxes ( 76,484) ( 35,818) Income tax benefits - - Net loss of current period from continuing operations ( 76,484) ( 35,818) Net loss ( 76,484) ( 35,818) Other comprehensive income (net after tax) - - Total comprehensive income for the year ($ 76,484) ($ 35,818) Pilot Energy Co., Ltd. and its subsidiaries From January 1 to March 31, 2025 From January 1 to March 31, 2024 Revenue $ 28,581 $ 57,968 Net loss before taxes ( 20,094) ( 28,707) Income tax benefits - - Net loss of current period from continuing operations ( 20,094) ( 28,707) Net loss ( 20,094) ( 28,707) Other comprehensive income (net after tax) - - Total comprehensive income for the year ($ 20,094) ($ 28,707)
	From January 1 to March 31, 2025 $ 28,581 ( 20,094) - ( 20,094) ( 20,094) - ($ 20,094)
		2024 $ 57,968 ( 28,707) - ( 28,707) ( 28,707) - ($ 28,707)

~19~

Statements of Cash Flows

Cash In-Flow (Out-Flow) from Operating Activities Net cash (outflow) inflow in investing activities Net cash (outflow) inflow in funding activities Net increase (decrease) in cash and cash equivalents Beginning Balance of Cash and Cash Equivalents Ending Balance of Cash and Cash Equivalents Cash In-Flow (Out-Flow) from Operating Activities Net cash (outflow) inflow in investing activities Net cash (outflow) inflow in funding activities Net increase (decrease) in cash and cash equivalents Beginning Balance of Cash and Cash Equivalents Ending Balance of Cash and Cash Equivalents Cash In-Flow (Out-Flow) from Operating Activities Net cash (outflow) inflow in investing activities Net cash (outflow) inflow in funding activities Net increase (decrease) in cash and cash equivalents Beginning Balance of Cash and Cash Equivalents Ending Balance of Cash and Cash Equivalents	Aptos Technology and its subsidiaries From January 1 to March 31, From January 1 to March 31,	Aptos Technology and its subsidiaries From January 1 to March 31, From January 1 to March 31,
	From January 1 to March 31,
	2025 2024 $ 12,437 ($ 44,554) 1,680 1,357 ( 1,448) 3,266 12,669 ( 39,931) 11,282 57,865 $ 23,951 $ 17,934 Xsense Technology Corporation (B.V.I.) Taiwan Branch From January 1 to March 31, From January 1 to March 31,
	From January 1 to March 31,
	2025 2024 ($ 6,285) $ 58,483 8,715 ( 9,812) ( 54,638) ( 4,068) ( 52,208) 44,603 65,060 49,823 $ 12,852 $ 94,426 Pilot Energy Co., Ltd. and its subsidiaries From January 1 to March 31, From January 1 to March 31,
	From January 1 to March 31,
	2025 ($ 76,150) ( 18,083) 58,598 ( 35,635) 59,897 $ 24,262	2024 $ 40,738 ( 73,054) ( 61,386) ( 93,702) 231,797 $ 138,095

~20~

After evaluating the operating conditions of its subsidiaries, Aptos Technology INC. and Xsense Technology Corporation, INC. Taiwan Branch, and the recoverability of related receivables, the Group recognized an impairment impact of NT$594,838. The amount was adjusted against retained earnings and non-controlling interests.

(IV) Employee benefits

Pensions

Defined benefit plans

The calculation of pension cost during the interim period adopts the pension cost rate determined by actuarial calculations at the end of the previous financial year, and is based on the beginning of the year to the end of the current period. If there are major market changes and major reductions, liquidation or other major one-off events after the end date, adjustments shall be made and relevant information shall be disclosed in accordance with the abovementioned policies.

(V) Income tax

Income tax expenses of the interim period are calculated based on the estimated annual average effective tax rate applied to the pre-tax profit and loss of the interim period, and the relevant information shall be disclosed in accordance with the aforementioned policies.

V. Critical Accounting Judgments and Key Sources of Estimation and Uncertainty

There are no major changes, please refer to Note 5 of the 2024 consolidated financial statements.

VI. Summary of Significant Accounting Items

(I) Cash and Cash Equivalents

Cash on hand Checking accounts and demand deposits Time deposits Total	March 31, 2025 $ 549 1,233,550 -	December 31, 2024 $ 396 1,426,654 3,492 $ 1,430,542	December 31, 2024 $ 396 1,426,654 3,492 $ 1,430,542	March 31, 2024 $ 623 1,422,326 139,862 $ 1,562,811

	$ 1,234,099		$ 1,430,542

The Group associates with a variety of financial institutions all with high credit quality to disperse credit risk, so it expects that the probability of counterparty default is remote.
The Group has no cash and cash and cash equivalents pledged to others.

~21~

(II) Financial assets and liabilities at fair value through profit or loss

Items Non-current items: Mandatory financial assets at fair value through profit or loss Shares of listed and OTC company Shares of non-listed and non-OTC company Private placement funds Limited partnership Valuation adjustment Items Current items: Mandatory financial assets at fair value through profit or loss Shares of listed and OTC company Beneficiary certificates Valuation adjustment Financial liabilities mandatorily measured at fair value through profit or loss Convertible bond call/put options	March 31, 2025 $ 99,900 36,829 - 110,302 247,031 ( 50,139) $ 196,892 March 31, 2025 $ 3,262,839 - 3,262,839 ( 503,519) $ 2,759,320 ($ 27,740)	March 31, 2025 $ 99,900 36,829 - 110,302 247,031 ( 50,139) $ 196,892 March 31, 2025 $ 3,262,839 - 3,262,839 ( 503,519) $ 2,759,320 ($ 27,740)	December 31, 2024 M $ 87,400 125,674 - 95,302 308,376 ( 121,135) $ 187,241 December 31, 2024 M $ 3,469,504 - 3,469,504 ( 340,429) $ 3,129,075 ($ 19,204)	arch 31, 2024 $ 2,689,504 130,337 95,000 - 2,914,841 639,187 $ 3,554,028 arch 31, 2024 $ 1,351,034 500 1,351,534 337,303 $ 1,688,837 ($ 11,059)

		247,031 ( 50,139)
		$ 196,892

~22~

Details of financial assets/liabilities at fair value through profit or loss recognized in profit or loss are as follows:

Financial assets mandatorily measured at fair value through profit or loss Shares of listed and OTC company Convertible bond call/put options Shares of non-listed and non-OTC company	From January 1 to March 31, 2025 ($ 145,200) ( 8,536) - ($ 153,736)	From January 1 to March 31, 2024 $ 681,147 ( 1,676) 18,616 $ 698,087

Please see Note 8 on how the Group provides financial assets at fair value through profit or loss as a pledged collateral.
Please see Note 12 (2) and (3) for the price risk and fair value information related to financial assets and liabilities at fair value through profit or loss.

(III) Financial assets measured at amortized cost

Items Current items: Demand Deposit Time deposits Non-current items: Demand Deposit Time deposits Total	March 31, 2025 $ 152,098 83,982 $ 236,080 $ 384,710 290,024 $ 674,734	March 31, 2025 $ 152,098 83,982 $ 236,080 $ 384,710 290,024 $ 674,734	December 31, 2024 $ 148,097 79,437 $ 227,534 $ 384,710 282,341 $ 667,051	December 31, 2024 $ 148,097 79,437 $ 227,534 $ 384,710 282,341 $ 667,051	March 31, 2024 $ 149,740 182,300 $ 332,040 $ 385,050 286,995 $ 672,045

		$ 236,080		$ 227,534
		$ 384,710 290,024		$ 384,710 282,341
		$ 674,734		$ 667,051

Financial assets at amortized cost is recognized in the profit or loss shown as follows:

Interest income	From January 1 to March 31, 2025 $ 1,953	From January 1 to March 31,
		2024 $ 2,564

While not considering the collaterals or other credit enhancements, the financial assets at amortized cost held by the Group had the maximum exposure of credit risk at NT$910,814, NT$894,585 and NT$1,004,085 as of March 31, 2025, December 31 and March 31, 2024, respectively.
Please see Note VIII on how the Group provides financial assets at amortized cost as a pledged collateral.

~23~

(IV) Notes and accounts receivable

Notes Receivables Accounts Receivables Accounts Receivables`－`Related Parties Less: Loss allowance	March 31, 2025 $ 30,265 $ 1,297,327 1,584 1,298,911 ( 125,761) $ 1,173,150	December 31, 2024 $ 167 $ 1,478,141 2,383 1,480,524 ( 110,762) $ 1,369,762	March 31, 2024 $ 5,767 $ 1,325,467 458 1,325,925 ( 42,342) $ 1,283,583

2. Aging of accounts receivable notes receivable is as follows:

	March 31, 2025		December 31, 2024
	Accounts Receivables Notes Receivables		Accounts Receivables	Notes Receivables
Not past due	$ 911,980	$ 30,265	$ 1,041,381	$ 167
Up to 30 days	148,657	-	142,862	-
31-90 days	57,513	-	116,488	-
91-180 days	17,102	-	43,381	-
More than 181	163,659	-	136,412	-
days past due
	$ 1,298,911	$ 30,265	$ 1,480,524	$ 167
			March 31, 2024
			Accounts Receivables	Notes Receivables
Not past due			$ 1,026,023	$ 5,767
Up to 30 days			173,506	-
31-90 days			70,483	-
91-180 days			33,400	-
More than 181			22,513	-
days past due
			$ 1,325,925	$ 5,767

The above is an aging report based on the number of days past due.

As of March 31, 2025, December 31 and March 31, 2024, accounts receivable and notes receivable were entirely from contracts with customers. The balances of accounts receivable from contracts with customers as of January 1, 2024 was NT$1,484,881.
While not considering the collaterals or other credit enhancements, the accounts receivable and notes receivable held by the Group had the maximum exposure of credit risk at NT$1,230,415, NT$1,369,929 and NT$1,289,350, respectively, as of March 31, 2025, December 31 and March 31 of 2024.
Please refer to Note 12 (2) for the information on credit risk of accounts receivable.

~24~

(V) Inventories

March 31, 2025

(V) Inventories March 31, 2025	(V) Inventories March 31, 2025	(V) Inventories March 31, 2025	(V) Inventories March 31, 2025
Cost (Gain from reversal of) loss allowance on decline in market value of inventories Book value Raw materials $ 333,373 ($ 69,585) $ 263,788 Work in process 175,882 ( 28,097) 147,785 Finished goods 166,264 ( 22,059) 144,205 Merchandise 201,949 ( 22,105) 179,844 Total $ 877,468 ($ 141,846) $ 735,622 December 31, 2024 Cost (Gain from reversal of) loss allowance on decline in market value of inventories Book value Raw materials $ 332,936 ($ 73,731) $ 259,205 Work in process 144,526 ( 32,529) 111,997 Finished goods 177,384 ( 27,859) 149,525 Merchandise 223,884 ( 20,830) 203,054 Total $ 878,730 ($ 154,949) $ 723,781 March 31, 2024 Cost (Gain from reversal of) loss allowance on decline in market value of inventories Book value Raw materials $ 310,152 ($ 48,700) $ 261,452 Work in process 206,076 ( 23,299) 182,777 Finished goods 218,077 ( 27,889) 190,188 Merchandise 113,523 ( 12,654) 100,869 Total $ 847,828 ($ 112,542) $ 735,286 The cost of inventories recognized as losses by the Corporate Group. From January 1 to March 31, 2025 From January 1 to March 31, 2024 Cost of goods sold $ 1,457,055 $ 1,513,360 Inventory valuation losses and (recovery gains) or obsolescence losses ( 10,490) 6,129 Revenue from sales of leftovers ( 802) ( 461) Others - 818 $ 1,445,763 $ 1,519,846
	2025 $ 1,457,055 ( 10,490) ( 802) - $ 1,445,763	2024 $ 1,513,360 6,129 ( 461) 818
			$ 1,519,846

~25~

From January 1 to March 31, 2025, part of the inventory for which the provision for impairment losses had been made in the previous period was sold, resulting in a recovery in the net realizable value of the inventory, which was recognized as a reduction in operating costs.

(VI) Investment under Equity Method

Affiliates: Advagene Biopharma Co., Ltd. Weida Hi-Tech Co., Ltd. TrueLight Corporation BKS Tec Corp.	March 31, 2025 $ 43,002 24,198 390,182 14,501 $ 471,883	December 31, 2024 $ 56,495 25,851 388,848 18,198 $ 489,392	March 31, 2024 $ 36,732 21,353 409,268 -

			$ 467,353

Affiliates
(1) The basic information about the Group’s significant related parties is as follows:

Shareholding percentage

Name of Company TrueLight Corporation	Main location of	March 31, 2025 12.11%	December 31, 2024 12.11%	March 31, 2024 12.11%	Measurement method Equity method
	business Taiwan

(2) The summarized financial information about the Group’s significant related parties is as follows: Balance Sheet

TrueLight Corporation

Current assets Non-Current Assets Current liabilities Non-current liabilities Total net assets Proportion of net assets attributable to the related party Goodwill Book value of affiliates	March 31, 2025 $ 742,498 621,018 ( 227,803) ( 167,919) $ 967,794 $ 117,200 272,982 $ 390,182	December 31, 2024 $ 729,988 622,913 ( 222,706) ( 173,413) $ 956,782 $ 115,866 272,982 $ 388,848	March 31, 2024 $ 1,063,641 653,383 ( 438,694) ( 157,017) $ 1,121,313 $ 136,286 272,982 $ 409,268

Statement of Comprehensive Income

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TrueLight Corporation

	TrueLight Corporation	TrueLight Corporation	TrueLight Corporation
Revenue Net income of current period from continuing operations Other comprehensive income (net after tax) Total comprehensive income for the year Dividends received from related parties	From January 1 to March 31, 2025 From January 1 to March 31, 2024
		$ 69,687 $ 3,690 - $ 3,690 $-	$ 145,292 ($ 73,040) - ($ 73,040) $-

(3) The summarized carrying amounts and the Group’s shares of operating results of individually immaterial affiliates are as follows: as of March 31, 2025, December 31, 2024, and March 31, 2024, the total carrying amounts of these affiliates were NT$81,701, NT$100,544, and NT$58,085, respectively.

Total comprehensive income for the year	From January 1 to March 31, 2025 ($ 8,337)	From January 1 to March
		31, 2024 ($ 9,468)

As of March 31, 2025, December 31, 2024 and March 31, 2024, the Group held 20.71%, 28.20% and 25.62% of shares of Advagene Biopharma Co., Ltd., respectively, and 28.20%, 29.54% and 28.20% of shares of Weida Hi-Tech Co., Ltd., respectively, making it the single largest shareholder in each case. However, the Group did not hold a majority of the board of directors’ seats and therefore did not participate in all operational decisions and business policies including strategic decisions (e.g., financing, acquisition, personnel and dividend policies, etc.) of Advagene Biopharma Co., Ltd. Weida Hi-Tech Co., Ltd. The Group’s shareholdings alone did not meet the required attendance rate at shareholders’ meetings, indicating that the Group has no power to direct relevant activities and therefore the Group does not have control over the company and has only significant influence.
The Group sold the shares of Advagene Biopharma Co., Ltd. from January to March 2025, resulting in a decrease in shareholding from 25.62% to 20.71%; a gain on disposal of investments of NT$45,719 was recognized.
In March 2024, the Group acquired 13,500 thousand common shares of TrueLight Corporation through private placement with an investment amount of NT$410,400. As of March 31, 2025, the shareholding ratio was 12.11%, making the Group the single largest shareholder of the Company. However, the Group’s shareholding does not reach the statutory attendance percentage of shareholders meetings, indicating that the Group has no actual ability to direct relevant activities. Therefore, it is concluded that the Group has no control over the company and only has significant influence.
In April 2024, the Group acquired 6,000 thousand common shares of BKS Tec Corp. through capital increase in cash, with an investment amount of NT$30,000. As of March 31, 2025, the shareholding ratio was 38.91%, making the Group the single largest shareholder of the

~27~

company. However, the Group did not hold a majority of the Board of Directors’ seats and therefore did not actually participate in the business decisions and operating policies, including strategic decisions (such as financing, acquisitions, personnel and dividend policies) of BKS Tec Corp. The Group’s shareholding alone does not reach the statutory attendance percentage of shareholders meetings, indicating that the Group has no actual ability to direct relevant activities. Therefore, it is concluded that the Group has no control over the company and only has significant influence.

For the three months ended March 31, 2025 and 2024, except for the audited company TrueLight Corporation, the investment income (loss) from long-term equity investments using the equity method is recognized based on the financial statements compiled by the investees for the same period while not reviewed by a CPA.

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(VII) Property, plant and equipment

Buildings and structures (including land) $ 3,057,156 ( 1,156,092) $ 1,901,064	Machinery and equipment $ 9,602,172 ( 3,363,404) $ 6,238,768 $ 6,238,768 32,936 ( 897) 897 ( 233,737) 716,730 $ 6,754,697 $ 10,350,941 ( 3,596,244) $ 6,754,697	Other equipment $ 990,567 ( 408,752) $ 581,815	Unfinished construction and
			equipment under
			acceptance $ 1,588,591 - $ 1,588,591


$ 1,901,064 16,152 - - ( 57,263) -	$ ( (	$ 581,815 16,342 - - ( 46,644) 52,060	$ 1,588,591 803,582 - - - ( 768,907) $ 1,623,266
$ 1,859,953	$	$ 603,573
$ 3,073,308 ( 1,213,355) $ 1,859,953	$ ( $	$ 1,058,969 ( 455,396) $ 603,573	$ 1,623,266 - $ 1,623,266

~29~

(	Buildings and structures (including land) $ 2,966,356 938,487) $ 2,027,849 $ 2,027,849 43,154 - - 54,709) 13,132	Machinery and equipment $ 8,379,360 ( 2,680,006) $ 5,699,354 $ 5,699,354 43,265 ( 73,868) 62,884 ( 194,944) 277,528 $ 5,814,219 $ 8,626,285 ( 2,812,066) $ 5,814,219	Other equipment $ 764,529 ( 240,244) $ 524,285 $ 524,285 37,039 ( 130) 130 ( 36,003) 8,184 $ 533,505	Unfinished construction and
				equipment under
				acceptance $ 1,162,876 - $ 1,162,876 $ 1,162,876 146,208 - - - ( 296,130) $ 1,012,954 $ 1,012,954 - $ 1,012,954

		$ ( (
	$ 2,029,446 $ 3,022,642 993,196) $ 2,029,446	$
(		$ ( $	$ 809,622 ( 276,117) $ 533,505

The Group had no interest capitalization for investment property in the period between January 1 and March 31, 2025 and 2024.
The major components of the Group's houses and buildings include land, buildings and factory renovation projects. Except for land, they are depreciated for 5 to 56 years.
Information on property, plant and equipment pledged to others as collateral is provided in Note 8.
The abovementioned property, plant and equipment of the Group are for self-use.

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(VIII) Leasing arrangements - lessee

The underlying assets leased by the Group include land, buildings and company vehicles. Leasing contracts are typically made for periods of 3 to 20 years. Lease contracts are negotiated separately and include a variety of terms and conditions. There are no restrictions for the leased assets, except that they cannot be used as loan collaterals.
The carrying amount of right-of-use assets and the depreciation charge are as follows:

From January 1 2025 Depreciation Land $ Buildings and structures Transportation equipment (company vehicles) Other equipment $ March 31, 2025 Book value Land $ 318,745 Buildings and structures 12,272 Transportation equipment (company vehicles) 16,799 Other equipment 57,883 $ 405,699	to March 31, From January 1 to March 31, 2024 Depreciation 4,473 $ 6,501 3,144 3,419 2,644 3,037 1,203 824 11,464 $ 13,781 December 31, 2024 March 31, 2024 Book value Book value $ 331,679 $ 479,448 15,268 19,226 17,911 12,922 59,406 38,982 $ 424,264 $ 550,578	March 31, 2024 Book value $ 479,448 19,226 12,922 38,982
		$ 550,578
	to March 31,
2025 Depreciation $	4,473 3,144 2,644 1,203 11,464
$

For the period between January 1 and March 31, 2025 and 2024, the increase (decrease) in right-of-use assets were (NT$7,101) and NT$9,729, respectively.
The information on profit or loss items related to lease contracts is as follows:

Items affecting current profit and loss Interest expenses on lease liabilities Expenses for short-term lease contracts Lease of low-value assets Gain on lease modifications	From January 1 to March 31,	From January 1 to March 31, 2024 $ 1,878 524 1,148 868
	2025 $ 1,575 618 668 24

For the three months between January 1 and March 31, 2025 and 2024, the Group’s total cash outflow for leases were NT$13,629 and NT$18,618, respectively.
Options to extend or terminate leases

~31~

In determining lease terms, the Group takes into consideration all facts and circumstances that create economic incentives to exercise an option to extend or terminate leases. The assessment of lease period is reviewed if a significant event occurs which affects the assessment of options to extend or options not to terminate.

(IX) Leasing arrangements - lessor

The Group leases out assets such as buildings. The lease contracts are typically made for periods of 1 to 2 years. The terms of lease contracts are negotiated separately and include various terms and conditions. In order to preserve the condition of leased assets, the Group usually requires lessees not to pledge the underlying leased assets.
The Group’s rent receivable has no overdue payment, and the credit risk loss amount is not significant after assessment.
The Group recognized rental income of NT$5,422 and NT$4,409 based on operating lease contracts in the period between January 1 and March 31, 2025 and 2024, respectively, and none of the lease contracts were variable lease payments.
The maturity analysis of the undiscounted lease payments under the operating leases is as follows:

2024 2025 (X)	March 31, 2025 $ - 13,387 $ 13,387 Real estate investment January 1, 2025 Cost Accumulated depreciation 2025 January 1 Depreciation March 31 March 31, 2025 Cost Accumulated depreciation	December	31, 2024 March 31, 2024 - $ 12,701 18,261 - 18,261 $ 12,701 Buildings and structures $ 192,176 ( 25,067) $ 167,109 $ 167,109 ( 848) $ 166,261 $ 192,176 ( 25,915) $ 166,261	March 31, 2024 $ 12,701 -
		$
		$

Buildings and structures

~32~

January 1, 2024 Cost Accumulated depreciation 2024 January 1 Depreciation March 31 March 31, 2024 Cost Accumulated depreciation	$ 192,176 ( 21,676) $ 170,500 $ 170,500 ( 848) $ 169,652 $ 192,176 ( 22,524) $ 169,652

Rental income and direct operating expenses of investment real estate:

Rental income from investment property Direct operating expenses incurred by investment property that generates rental income for the period	From January 1 to March 31, 2025 $ 5,422 $ 1,147	From January 1 to March 31,
		2024 $ 4,409 $ 867

The fair values of the investment property held by the Group as of March 31, 2025, December 31 and March 31, 2024 were NT$297,553, NT$271,457 and NT$159,782, respectively. They were valued using the income approach and classified as Level 3 fair value, and the key assumptions are as follows:

Discount rate Annual rent (net income) Number of years	March 31, 2025 3.17%~4.73% $ 19,658 45~50	December 31, 2024 3.36%~5.65% $ 17,955 45~50	March 31, 2024 3.30%~5.64% $ 15,490 31~56

No capitalization of interest for investment property in the period between January 1 and March 31, 2025 and 2024.
As of March 31, 2025, December 31, 2024 and March 31, 2024, the investment property was pledged as collateral, please refer to Note 8.
(XI) Intangible assets

2025

~33~

January 1 Cost Accumulated amortization and impairments January 1 Add - Cost Amortization expense Reclassification March 31 March 31 Cost Accumulated amortization and impairments	Trademark and concession Computer software $ 276,588 $ 126,820 ( 96,765) ( 95,181) $ 179,823 $ 31,639 $ 179,823 $ 31,639 - 117 ( 6,771) ( 7,107) - - $ 173,052 $ 24,649 $ 276,588 $ 126,937 ( 103,536) ( 102,288) $ 173,052 $ 24,649	Patents $ 179,698 ( 25,727) $ 153,971 $ 153,971 - ( 3,937) ( 337) $ 149,697 $ 179,361 ( 29,664) $ 149,697	Others $ 33,333 ( 12,222)	Goodwill $ 295,626 ( 27,390)	Total $ 912,065 ( 257,285) $ 654,780 $ 654,780 117 ( 19,482) ( 337) $ 635,078 $ 911,845 ( 276,767) $ 635,078
			$ 21,111	$ 268,236
			$ 21,111 - ( 1,667) -	$ 268,236 - - -
			$ 19,444	$ 268,236
			$ 33,333 ( 13,889)	$ 295,626 ( 27,390)
			$ 19,444	$ 268,236

~34~

	2024 Trademark and	$
	concession 280,614 79,082) 201,532 201,532 - 7,108) - 194,424 280,614 86,190) 194,424
		$
		$ (
$		$
$ (		$ (
$		$

~35~

Goodwill allocated to the cash-generating unit of the Group identified by the operating department:

department:
March 31, 2025 Photomask and semiconductor segment $ 224,988	Medical segment $ 43,248	December 31, 2024 Photomask and semiconductor segment $ 224,988 March 31, 2024 Photomask and semiconductor segment $ 224,988	Medical segment $ 43,248
			Medical segment $ 43,248

For the impairment of intangible assets, please refer to Note 6 (12).
(XII) Impairment of non-financial assets
The details of the impairment loss of goodwill recognized by the Group in January 1 to March 31, 2025 and 2024 by department are disclosed as follows:

Recognized in profit or loss

From January 1 to March 31, 2025 From January 1 to March 31, 2024

Photomask and semiconductor segment

$ $ 27,390
As business conditions were not as favorable as expected, and the recoverable amount was estimated to be less than the book value, an impairment loss of NT$27,390 was recognized in 2024.
The recoverable amount of the Group is assessed based on the value in use. The value in use is calculated based on the pre-tax cash flow forecast of the financial budget approved by the management. The main assumptions used to calculate the value in use are as follows:
(1) Revenue growth rate: Reference to market-related information and estimated based on the planned operating sales plan.
(2) Margin rate: Reference to historical values and estimated based on the planned operating sales plan.
(3) Discount rate: The pre-tax ratio and reflects the specific risks of the relevant operating segments.

(XIII) Other Non-Current Assets

Prepayments for equipment Refundable Deposit Others Total	March 31, 2025 $ 306,316 74,076 1,785 $ 382,177	December 31, 2024 $ 427,812 76,558 2,091 $ 506,461	March 31, 2024 $ 621,275 90,917 1,622 $ 713,814

~36~

(XIV) Short Term Loans

Type of borrowings Range of interest rate Collateral March 31, 2025 Bank borrowings Credit loan $ 2,525,482 0.86%~4.20% None Secured borrowings 3,209,711 0.5%~3.61% Certificates of deposit, reserve accounts (Note), stocks of listed and OTC companies and treasury stock Other borrowings (Related Parties) Credit loan 120,229 2.7% None $ 5,855,422 Type of borrowings December 31, 2024 Range of interest rate Collateral Bank borrowings Credit loan $ 2,365,712 1.88%~4.09% None Secured borrowings 3,723,674 0.5%~3.61% Certificates of deposit, reserve accounts (Note), stocks of listed and OTC companies and treasury stock Other borrowings (Related Parties) Credit loan 110,969 2.7% None $ 6,200,355 Type of borrowings March 31, 2024 Range of interest rate Collateral Bank borrowings Credit loan $ 2,086,422 0.84%~4.09% None Secured borrowings 4,271,315 1.20%~4.01% Certificates of deposit, reserve accounts (Note), stocks of listed and OTC companies and treasury stock Other borrowings Credit loan 60,000 2.70% None $ 6,417,737

The interest expenses recognized in profit and loss in the period between January 1 and March 31, 2025 and 2024 were NT$34,545 and NT$32,487, respectively.

Note: The responsible person of the subsidiary is the joint guarantor.

~37~

(XV) Other Payables

Payable on machinery and equipment Machine maintenance payable Payroll and bonus payable Remunerations payable to employees and directors Dividends payable Others	March 31, 2025 $ 584,040 133,960 168,716 - - 422,593 $ 1,309,309	December 31, 2024 $ 649,734 55,693 156,053 168 - 375,181 $ 1,236,829	March 31, 2024 $ 557,041 44,005 117,577 178,705 373,477 376,716 $ 1,647,521

(XVI) Corporate bonds payable

March 31, 2025 Corporate bonds payable $ 4,300,000 Less: Amount of exercised conversion options ( 325,200) Less: Discount on corporate bonds payable ( 28,158) 3,946,642 Less: Corporate bonds with the put option exercised ( 33,400) Less: Corporate bonds redeemed early ( 299,416) $ 3,613,826	December 31, 2024 $ 4,300,000 ( 325,200) ( 32,828) 3,941,972 ( 33,400) ( 299,416) $ 3,609,156	March 31, 2024 $ 3,800,000 ( 324,400) ( 46,308) 3,429,292 - - $ 3,429,292

The terms of issuance for the Group's 3rd domestic unsecured convertible bonds are as follows:
(1) The Group has been approved by the competent authority to raise and issue NT$2,000,000 of the 3rd domestic unsecured convertible bonds, with a coupon rate of 0% and an issuance period of 5 years from August 3, 2021 to August 3, 2026. The convertible bonds are repayable in cash at par value on maturity. The convertible bonds were listed for trading on August 3, 2021.
(2) The bondholders may request the conversion of the convertible bonds into the Group's common shares at any time from the day after the expiration of three months from the date of issuance of the corporate bonds to the maturity date, except during the period when the transfer of the corporate bonds is suspended in accordance with the regulations or laws, and the rights and obligations of the converted common shares are the same as those of the original issued common shares.
(3) The conversion price of the convertible bonds is determined in accordance with the pricing model stipulated in the Measures, and the conversion price will be adjusted in accordance with the pricing model stipulated in the Conversion Measures in the

~38~

event that the Group is subject to anti-dilution provisions. The conversion price will be reset on the base date set by the Regulations in accordance with the pricing model stipulated in the Conversion Measures. As of March 31, 2025, the conversion price was NT$80.4 per share.

(4) If the closing price of the Company's common stock exceeds 30% of the then conversion price for 30 consecutive business days from the day following the third month of the issuance of the convertible bonds to the 40th business day prior to the expiration of the issuance period, the Company may redeem the outstanding corporate bonds within the next 30 business days at the par value of the corporate bonds in cash.
(5) If the outstanding balance of the convertible bonds is less than 10% of the total par value of the corporate bonds issued, the Company may redeem the convertible bonds at any time thereafter for cash at the par value of the corporate bonds, from the day following the third month of the issuance of the corporate bonds to the 40th business day prior to the expiration of the issuance period.
(6) As of March 31, 2025, a total amount of NT$325,200 had been converted into 3,743 thousand shares of common stock.
(7) As of March 31, 2025, 334 convertible bonds were repurchased at the price of NT$10,000; the repurchase amount was NT$33,400.
Upon issuance of convertible bonds, the Group separated the conversion options from the components of liabilities in accordance with IAS 32, “Financial Instruments: Presentation”, and recorded “capital surplus - stock options” at NT$406,616. The embedded repurchase and repurchase rights are separated from the principal contractual debt instruments in accordance with IFRS 9, "Financial Instruments", because they are not closely related to the economic characteristics and risks of the principal contractual debt instruments, and are recorded as "financial assets or liabilities at fair value through profit or loss" on a net basis. The effective interest rate of the master contract debt after the separation was 0.0902%.
First series domestic secured corporate bonds In order to raise the Group's working capital, the board of directors resolved to approve on August 5, 2022 the issue of the first series domestic secured corporate bond. The issue has been reported to and approved by the Taipei Exchange, and the terms are as follows:
(1) Total amount of issue: According to the different issue conditions, there are two types of bonds, A and B, of which A is issued with an amount of NT$300,000, and B is issued with an amount of NT$200,000, totaling NT$500,000.
(2) Issue period: Five years, issued on September 28, 2022, and matured on September 28, 2027.
(3) Coupon rate and repayment method of principal and interest: Both Bond A and Bond B have a fixed annual coupon rate of 1.80%. Simple interest is calculated and paid once a year, and the principal is repaid in cash at the face value of the bond at maturity.
(4) Guarantee method: The Company's bonds are guaranteed by the joint delegation guarantee contract signed and the obligation and the contract of guarantee for the performance of corporate bonds signed by major banks.
Second series domestic secured convertible corporate bonds
In order to raise the Group's working capital, the board of directors resolved to approve on August 5, 2022 the issue of the second series domestic secured convertible corporate

~39~

bond. The issue has been reported to and approved by the Taipei Exchange, and the terms are as follows:

(1) Total amount of issue: According to the different issue conditions, there are two types of bonds, A and B, of which A is issued with an amount of NT$200,000, and B is issued with an amount of NT$300,000, totaling NT$500,000.
(2) Issue period: Five years, issued on December 27, 2022, and matured on December 27, 2027.
(3) Coupon rate and repayment method of principal and interest: Bond A has a fixed annual coupon rate of 2.20% and Bond B has a fixed annual coupon rate of 2.38%. Simple interest is calculated and paid once a year, and the principal is repaid in cash at the face value of the bond at maturity.
(4) Guarantee method: The Company's bonds are guaranteed by the joint delegation guarantee contract signed and the obligation and the contract of guarantee for the performance of corporate bonds signed by major banks.
(5) Upon the resolution of the Group's board of directors on May 27, 2024, the Chairman was authorized to repurchase all the second series domestic secured convertible corporate bonds B issued by the Company in 2022 from the securities dealer's office for cancellation and delisting. As the early repurchase was near the expiration of principal repayment of NT$300,000 on June 24, the delisting from Taipei Exchange was determined to be done on June 25, 2024.
Third series domestic secured convertible corporate bonds

In order to raise the Group's working capital, the board of directors resolved to approve on August 4, 2023 the issue of the third series domestic secured convertible corporate bond. The issue has been reported to and approved by the Taipei Exchange, and the terms are as follows:

(1) Total amount issued: NT$300,000 in total.
(2) Issuance period: Five years from issuance on August 28, 2023 to expiration on August 28, 2028.
(3) Coupon rate and method of repayment of principal and interest: The coupon rate is a fixed interest rate of 1.62% per annum, and the simple interest is calculated once a year. At maturity, the principal is repaid in cash based on the face value of the bond.
(4) Guarantee method: The Company's bonds are guaranteed by the joint delegation guarantee contract signed and the obligation and the contract of guarantee for the performance of corporate bonds signed by major banks.
Fourth series domestic secured convertible corporate bonds

In order to raise the Group's working capital, the board of directors resolved to approve on August 4, 2023 the issue of the fourth series domestic secured convertible corporate bond. The issue has been reported to and approved by the Taipei Exchange, and the terms are as follows:

(1) Total amount issued: NT$500,000 in total.
(2) Issuance period: Five years from issuance on December 12, 2023 to expiration on December 12, 2028.
(3) Coupon rate and method of repayment of principal and interest: The coupon rate is a fixed interest rate of 1.8% per annum, and the simple interest is calculated once a year.

~40~

At maturity, the principal is repaid in cash based on the face value of the bond.

(4) Guarantee method: The Company's bonds are guaranteed by the joint delegation guarantee contract signed and the obligation and the contract of guarantee for the performance of corporate bonds signed by major banks.
Fifth series domestic secured convertible corporate bonds

In order to raise the Group's working capital, the board of directors resolved to approve on August 1, 2024 the issue of the fifth series domestic secured convertible corporate bond. The issue has been reported to and approved by the Taipei Exchange, and the terms are as follows:

(1) Total amount issued: NT$500,000 in total.
(2) Issuance period: Five years from issuance on August 1, 2024 to expiration on August 1, 2029.
(3) Coupon rate and method of repayment of principal and interest: The coupon rate is a fixed interest rate of 2.2% per annum, and the simple interest is calculated once a year. At maturity, the principal is repaid in cash based on the face value of the bond.
(4) Guarantee method: The Company's bonds are guaranteed by the joint delegation guarantee contract signed and the obligation and the contract of guarantee for the performance of corporate bonds signed by major banks.

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(XVII) Long-term Loans

(XVII) Long-term Loans
Type of borrowings Borrowing period and payment method Long-term bank borrowings Credit loan From January 24, 2022 to August 28, 2029, to be repaid in installments and installments over the agreed period Secured borrowings From January 28, 2022 to January 27, 2027, to be repaid in installments and installments over the agreed period Secured borrowings From December 27, 2022 to August 23, 2029, to be repaid in installments and installments over the agreed period Secured borrowings From July 26, 2023 to July 26, 2038, to be repaid in installments and installments over the agreed period Secured borrowings From October 29, 2021 to March 24, 2030, to be repaid in installments and installments over the agreed period Other long-term borrowings Credit loan From June 6, 2023 to January 2, 2027, to be repaid in installments and installments over the agreed period Secured borrowings From July 29, 2021 to March 28, 2029, to be repaid in installments and installments over the agreed period Secured borrowings From June 10, 2022 to July 28, 2028, to be repaid in installments and installments over the agreed period Less: Current portion of long-term borrowings	Range of interest rate 2.22%~ 3.95% 2.68% 2.30%~ 2.58% 2.45%~ 3.23% 2.33%~ 4.47% 4.19%~ 7.80% 2.45%~ 8.20% 3.44%~ 7.18%	Collateral None (Note) Houses and buildings, machinery equipment and investment property Houses and buildings and investment property Plant and land Machinery and equipment None Machinery and equipment Machine and equipment, land, buildings and structures	March 31, 2025 $ 24,577 500,000 1,193,421 213,506 1,548,615 100,936 712,642 333,685 -
			4,627,382 ( 1,355,199) $ 3,272,183

Note: The responsible person of the subsidiary is the joint guarantor.

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Type of borrowings Long-term bank borrowings Credit loan Credit loan Secured borrowings Secured borrowings Secured borrowings Secured borrowings Other long-term borrowings Credit loan Secured borrowings Secured borrowings Less: Current portion	Borrowing period and payment method From May 23, 2024 to August 28, 2029, to be repaid in installments and installments over the agreed period From January 24, 2022 to January 24, 2027, to be repaid in installments and installments over the agreed period From January 28, 2022 to January 27, 2027, to be repaid in installments and installments over the agreed period From December 27, 2022 to August 23, 2029, to be repaid in installments and installments over the agreed period From July 26, 2023 to July 26, 2038, to be repaid in installments and installments over the agreed period From October 29, 2021 to May 20, 2029, to be repaid in installments and installments over the agreed period From June 9, 2023 to August 2, 2026, to be repaid in installments and installments over the agreed period From July 29, 2021 to March 28, 2029, to be repaid in installments and installments over the agreed period From June 28, 2023 to June 28, 2025, to be repaid in installments and installments over the agreed period of long-term borrowings	Range of interest rate 2.22%~ 3.95% 3.13% 2.68% 2.30%~ 2.58% 2.45%~ 3.23% 2.33%~ 4.47% 4.19%~ 7.80% 2.26%~ 8.20% 4.06%	Collateral None None (Note) Houses and buildings, machinery equipment and investment property Houses and buildings and investment property Plant and land Machinery and equipment None Machinery and equipment Machine and equipment, land, buildings and structures	December 31, 2024 $ 23,696 4,335 750,000 1,365,789 183,964 974,629 129,052 876,754 6,868 - 4,315,087 ( 1,242,279) $ 3,072,808

~43~

Type of borrowings Borrowing period and payment method Range of interest rate Long-term bank borrowings Secured borrowings From December 28, 2022 to December 28, 2032, repayable in portions and in installments during the term specified in the agreement 2.32%~ 2.55% Secured borrowings From December 28, 2021 to January 28, 2027, repayable in portions and in installments during the term specified in the agreement 2.68% Secured borrowings From July 26, 2023 to July 25, 2038, to be repaid in installments and installments over the agreed period 2.45%~ 2.55% Secured borrowings From January 5, 2021 to July 5, 2028, to be repaid in installments and installments over the agreed period 2.25%~ 4.33% Credit loan From January 24, 2022 to January 24, 2027, to be repaid in installments and installments over the agreed period 3.00% Other long-term borrowings Secured borrowings From March 25, 2021 to March 28, 2029, to be repaid in installments and installments over the agreed period 2.45%~ 8.20% Secured borrowings From June 10, 2022 to July 28, 2028, to be repaid in installments and installments over the agreed period 2.26%~ 5.25% Credit loan From December 30, 2021 to December 29, 2025, to be repaid in installments and installments over the agreed period 4.19%~ 7.80% Less: Current portion of long-term borrowings	Collateral Houses and buildings and investment property Houses and buildings, machinery equipment and investment property Plant and land Machinery and equipment None (Note) Machinery and equipment Houses, buildings, machinery and equipment, and land None	March 31, 2024 $ 982,895 750,000 127,599 962,907 5,828 660,851 385,037 253,395 - 4,128,512 ( 1,171,206) $ 2,957,306

Note: The responsible person of the subsidiary is the joint guarantor.

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(XVIII) Pensions

(1) The Company and its domestic subsidiaries operate a defined benefit pension plan in accordance with the Labor Standards Act, which cover all regular employees’ service years prior to the enforcement of the Labor Pension Act on July 1, 2005 and service years thereafter of employees who chose to continue to be subject to the pension mechanism under the Labor Standards Act. Under the defined benefit pension plan, two units are accrued for each year of service for the first 15 years and one unit for each additional year thereafter, subject to a maximum of 45 units. Pension benefits are based on the number of units accrued and the average monthly salaries and wages of the last six months prior to retirement. The Company and its domestic subsidiaries contribute a monthly amount equal to 2% of employees’ monthly salaries and wages to a retirement fund at the Bank of Taiwan, the trustee, under the name of the independent retirement fund committee. Also, the Company and its domestic subsidiaries would assess the balance in the aforementioned labor pension reserve account by December 31, every year. If the account balance is not enough to pay the pension calculated by the aforementioned method to the employees expected to qualify for retirement in the following year, the Company and its domestic subsidiaries will make contribution for the deficit by the end of next March.
(2) For the three months between January 1 and March 31, 2025, and 2024, the pension costs under defined contribution pension plans of the Group were NT$533 and NT$533, respectively.
(3) The expected contributions to the defined benefit pension plans of the Group for the year ending December 31, 2026 are NT$2,133.
(1) Effective July 1, 2005, the Company and its domestic subsidiaries have established a defined contribution pension plan (hereinafter referred to as the “New Plan”) under the Labor Pension Act (hereinafter referred to as the “Act”), covering all regular employees with domestic citizenship. Under the New Plan, the Company and its domestic subsidiaries contribute an amount based on 6% of the employees’ monthly salaries and wages to the employees’ individual pension accounts at the Bureau of Labor Insurance. The benefits accrued are paid monthly or in lump sum upon termination of employment.
(2) For the three months between January 1 and March 31, 2025, and 2024, the pension costs under defined contribution pension plans of the Group were NT$13,388 and NT$12,560, respectively.

~45~

(XIX) Capital

As of March 31, 2025, the Company’s authorized capital was NT$5,000,000, consisting of 500,000 thousand shares (including 20,000 thousand shares which can be subscribed to as employee stock options). The paid-in capital was NT$2,564,562 with a par value of NT$10. All proceeds from shares issued have been collected.

The movements in the number of the Company's common stocks outstanding are as follows:

Unit: Thousand shares

2025 2024 January 1 213,663 Subsidiaries donated treasury stock - March 31 213,663 2. Treasury stock (1) Reasons for repurchase of shares and changes in the quantity: March 31, 2025 Company name of the shareholding Reasons for buyback Number of shares (thousand) Subsidiary: Youe Chung Capital Corporation Subsidiary holds the company's stock 35,331 The Company Transfer shares to employees 7,462 42,793 December 31, 2024 Company name of the shareholding Reasons for buyback Number of shares (thousand) Subsidiary: Youe Chung Capital Corporation Subsidiary holds the company's stock 35,331 The Company Transfer shares to employees 7,462 42,793 March 31, 2024 Company name of the shareholding Reasons for buyback Number of shares (thousand) Subsidiary: Youe Chung Capital Corporation Subsidiary holds the company's stock 35,331 The Company Transfer shares to employees 7,462 42,793	2025 2024 January 1 213,663 Subsidiaries donated treasury stock - March 31 213,663 2. Treasury stock (1) Reasons for repurchase of shares and changes in the quantity: March 31, 2025 Company name of the shareholding Reasons for buyback Number of shares (thousand) Subsidiary: Youe Chung Capital Corporation Subsidiary holds the company's stock 35,331 The Company Transfer shares to employees 7,462 42,793 December 31, 2024 Company name of the shareholding Reasons for buyback Number of shares (thousand) Subsidiary: Youe Chung Capital Corporation Subsidiary holds the company's stock 35,331 The Company Transfer shares to employees 7,462 42,793 March 31, 2024 Company name of the shareholding Reasons for buyback Number of shares (thousand) Subsidiary: Youe Chung Capital Corporation Subsidiary holds the company's stock 35,331 The Company Transfer shares to employees 7,462 42,793	2024	213,153 500
			213,653 Book value $ 502,776 664,593 $ 1,167,369 Book value $ 502,776 664,593 $ 1,167,369 Book value $ 502,776 664,593 $ 1,167,369
	Number of shares (thousand) 35,331 7,462 42,793 March 31, 2024 Number of shares (thousand) 35,331 7,462 42,793

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(2) The Securities and Exchange Act stipulates that the percentage of the Company's repurchase of outstanding shares shall not exceed 10% of the Company's total issued shares, and the total value of shares purchased shall not exceed the retained earnings plus the premium of issued shares and the amount of realized capital reserve.
(3) The treasury stocks bought back by the Company in accordance with the Securities and Exchange Act shall not be pledged. Before transfer, shareholders are not entitled to the shareholders' rights.
(4) According to the provisions of the Securities and Exchange Act, the share repurchased to be transferred to employees shall be transferred within 5 years from the date of the purchase. If the transfer is not made within the time limit, the shares are deemed as unissued shares, and change of registration shall be made to cancel the shares. In order to maintain the Company’s credit and shareholders equity, the shares bought back should have the registration changed to cancel the shares within six months from the date of the purchase.
(5) The Company's stock held by the subsidiary Youe Chung Capital is treated as treasury stock. As of March 31, 2025, December 31, 2024, and March 31, 2024, Youe Chung Capital Corporation held 35,331 thousand shares of the Company. The average book value per share was NT$14.23, and the fair value per share was NT$37.65, NT$49.25, and NT$68.00, respectively. The cost of transferring treasury stocks is calculated based on the book amount of the Company’s stock held by Youe Chung Capital and the Company's indirect shareholding during each period.
(6) On November 3, 2021, the Board of Directors resolved to purchase 6,000 thousand shares of the Company's stock in the centralized trading market and transfer them to employees. This amount represented 2.37% of the total number of issued shares of the Company. The repurchase of 4,485 thousand shares was completed between November 4, 2021 and January 3, 2022. On January 21, 2022, the Board of Directors approved the transfer of 4,485 thousand shares to employees.
(7) On May 6, 2022, the Board of Directors resolved to purchase 10,000 thousand shares of the Company's stock in the centralized trading market and transfer them to employees. This amount represented 3.91% of the total number of issued shares of the Company. The repurchase of 10,000 thousand shares was completed between May 9, 2022 and July 8, 2022. On April 14, 2023, the Board of Directors approved the transfer of 10,000 thousand shares to employees, of which 7,023 thousand shares were transferred to employees in June 2023.

(XX) Capital surplus

In accordance with the Company Act, any capital surplus arising from paid-in capital in excess of the par value on issuance of common stocks and donations can be used to cover accumulated deficit or to issue new stocks or cash to shareholders in proportion to their share ownership, provided that the Company has no accumulated deficit. Further, the Securities and Exchange Act requires that the amount of capital surplus to be capitalized, as above, should not exceed 10% of paid-in capital each year. Capital reserves should not be used to cover accumulated deficit unless the legal reserve is insufficient. The following is a breakdown of the capital reserve:

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Changes in ownership interests	Equity changes	Equity changes	Equity changes	$
in subsidiaries recognized $ 155,293 57,918 $ 213,211 Changes in ownership interests
	$
	$			$
				$
in subsidiaries recognized $ 154,097 786 $ 154,883
		$	in affiliates 82,220 - 82,220
$		$		$

(XXI) Retained earnings

According to the Articles of Incorporation, any surplus from profit concluded at the end of year by the Company is first subject to reimbursement of previous losses and payment of taxes, followed by 10% provision for legal reserve and provision or reversal of special reserve as the laws may require. Any earnings remaining shall be distributed as shareholders’ dividends in whole or partially.
The Company takes into account the overall business environment, industrial growth, and the Company's long-term financial planning for stable operation and development to adopt a residual dividend policy, which is mainly based on the Company's future capital budgeting plan to measure the annual capital needs. After using the retained earnings for funding, the remaining surplus will be distributed in the form of dividends, and the distribution steps are shown as follows:
(1) Decide on the best capital budgeting.
(2) Decide on the financing required for one of the capital budgeting items.
(3) Decide on the amount of the financing to be supported by retained earnings (methods such as cash capital increase or corporate bonds and so on can be adopted as support).
(4) After retaining the portion required for operation needs out of the earnings remainder, the rest should be distributed to shareholders in the form of dividends. Cash dividends distribution proportion should not be lower than 20% of the total amount of dividends for the distribution proportion of the Company’s dividends.
Except for covering accumulated deficit or issuing new stocks or cash to shareholders in proportion to their share ownership, the legal reserve shall not be used for any other purpose. The use of the legal reserve for the issuance of stocks or cash to shareholders in proportion to their share ownership is permitted, provided that the distribution of the reserve is limited to the portion in excess of 25% of the Company’s paid-in capital.
In accordance with the regulations, the Company shall set aside special reserve from the debit balance on other equity items at the balance sheet date before distributing

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earnings. When debit balance on other equity items is reversed subsequently, the reversed amount could be included in the distributable earnings.

The Company’s Board of Directors approved the proposal for covering the losses in 2024 on March 12, 2025.
The Company's shareholders’ meeting resolved on May 27, 2024 to distribute a cash dividend of NT$1.50 per common share from the 2023 earnings, with a total dividend of NT$373,477. In addition, due to the conversion of convertible bonds, the number of the Company’s outstanding shares changed to 248,994 thousand shares (excluding the treasury stock of 7,462 thousand shares). With the cash dividends remained at NT$1.5 per share, the total amount of cash dividends distributed from earnings in 2023 was adjusted to NT$373,491.

(XXII) Other equity interests

	2025	2025
	Unrealized gains			Hedging	Foreign currency
	and losses			reserve	translation			Total
January 1	($	2,666)			$	22,814		$	20,148
Difference in foreign
currency translation:
- Group			-			12,399			12,399
March 31	($	2,666)			$	35,213		$	32,547
		2024
		Unrealized gains		and	Foreign currency
		losses			translation		Total
January 1		($ 2,666)			$ 4,307		$		1,641
Difference in foreign	currency
translation:
- Group				-	9,980				9,980
March 31		($ 2,666)			$ 14,287		$		11,621

(XXIII) Operating income

Revenue from contracts with customers	From January 1 to March 31, 2025 $ 1,627,957	From January 1 to March 31,
		2024 $ 1,850,048

Segmentation of revenue from contracts with customers

The Corporate Group derives its revenue from the transfer of goods and services either over time or at a point in time. The revenue can be divided into the following main product lines:

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From January 1 to March 31, 2024 Photomask and semiconductor segment Revenue from contracts with external customers$ 1,815,538 Cut-off point of income recognition Income recognized at a particular point in time $ 693,329 Income recognized gradually over time 1,122,209 $ 1,815,538 From January 1 to March 31, 2025 Photomask and semiconductor segment Revenue from contracts with external customers$ 1,526,885 Cut-off point of income recognition Income recognized at a particular point in time $ 513,877 Income recognized gradually over time 1,013,008 $ 1,526,885	Medical segment $ 34,510 $ 34,510 - $ 34,510 Medical segment $ 101,072 $ 101,072 - $ 101,072	Total $ 1,850,048 $ 727,839 1,122,209 $ 1,850,048 Total $ 1,627,957 $ 614,949 1,013,008 $ 1,627,957

Contract Asset and Contract Liability
(1) The Group has recognized the following revenue-related contract assets and contract liabilities:

March 31, 2025 Contract Assets $ 99,870 Contract Liabilities$ 102,967	December 31, 2024 $ 90,967 $ 64,453	March 31, 2024 $ 83,670 $ 164,830	January 1, 2024 $ 105,263
			$ 174,538

(2) Contract liabilities at the beginning of the period recognized as revenue of the period:

Opening balance of contract liabilities recognized in the current period	From January 1 to March 31,	From January 1 to March 31,
	2025 $ 44,054	2024 $ 113,371

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(XXIV) Interest income

Interest from bank deposits Interest income from financial assets measured at amortized cost Other interest incomes	From January 1 to March 31, 2025 $ 1,345 1,953 45 $ 3,343	From January 1 to March 31, 2024 $ 4,914 2,564 84 $ 7,562

(XXV) Other Incomes

Rental income Other income - Others	From January 1 to March 31, 2025 $ 6,122 10,568 $ 16,690	From January 1 to March 31,
		2024 $ 5,156 3,288 $ 8,444

(XXVI) Other Gains and Losses

	From January 1 to March 31,	From January 1 to March 31,	From January 1 to March 31,	From January 1 to March 31,
	2025		2024
Disposal of interests in property, plant	$	15,921	$	14,117
and equipment
Gain (loss) on disposal of investments		45,719		-
Gain on lease modifications		24		868
Foreign currency exchange gains	(	8,241)		35,825
(losses)
Loss/profit of financial assets and
liabilities at fair value through profit or
loss	(	153,736)		698,087
Goodwill impairment loss		-	(	27,390)
Other losses -- Depreciation of	(	848)
investment properties			(	848)
Other Gains and Losses	(	1,906)	(	883)
	($	103,067)	$	719,776

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(XXVII) Financial Costs

XXVII) Financial Costs
Interest expenses: Bank and other borrowings Corporate bonds Lease liabilities Others	From January 1 to March 31, 2025 $ 65,624 14,236 1,575 8 $ 81,443	From January 1 to March 31,
		2024 $ 63,978 13,292 1,878 57 $ 79,205

(XXVIII) Expenses by nature

XXVIII) Expenses by nature
Employee benefits expenditure Depreciation Amortization	From January 1 to March 31, 2025 $ 337,906 357,300 19,482 $ 714,688	From January 1 to March 31,
		2024 $ 376,468 307,621 30,065 $ 714,154

(XXIX) Employee benefits expenditure

Payroll expenses Labor and health insurance fees Pension expense Other personnel expenses	From January 1 to March 31, 2025 $ 278,719 24,463 13,921 20,803 $ 337,906	From January 1 to March 31,
		2024 $ 325,832 22,865 13,093 14,678 $ 376,468

According to the Articles of Incorporation, the Company shall distribute not less than 10% of the current year’s profit situation for employee remuneration and not more than 2% of current year’s profit situation for director remuneration. However, profits must first be taken to offset against cumulative losses, if any.
For the periods between January 1 and March 31, 2025 and 2024, employees' remuneration was accrued at NT$0 and NT$79,000; respectively, and director remuneration was accrued at NT$0 and NT$5,400, respectively. These amounts were recorded under payroll expenses.

The remuneration of employees and directors for January 1 to March 31, 2025 and 2024 were estimated in accordance with the Articles of Incorporation taking into account annual profits.

The 2024 remuneration for employees, directors and supervisors as resolved by the Board of Directors are consistent with the amounts recognized in the 2024 financial statements.

Information about employees remuneration and director remuneration of the Company as resolved by the Board of Directors is available on the MOPS.

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(XXX) Income tax

1. Income tax expense

Components of income tax expense:

Current tax: Current tax on profits for the year Total current tax Deferred income tax: Origination and reversal of temporary differences Total Deferred Income Tax Income Tax Expense	From January 1 to March 31,	From January 1 to March 31,
	2025 $ 6,358 6,358 8,448 8,448 $ 14,806	2024 $ 38,338 38,338 ( 1,885) ( 1,885) $ 36,453

The Company’s income tax returns through 2023 have been assessed and approved by the tax authority.

(XXXI) Earnings (loss) per share

(XXXI) Earnings (loss) per share
0.00% Basic and diluted loss per share Net loss attributable to ordinary shareholders of the parent 0.00% Earnings per share Profit attributable to ordinary shareholders of the parent Diluted Earnings per share Profit attributable to ordinary shareholders of the parent Assumed conversion of all dilutive potential ordinary shares Convertible bonds Employee remuneration Profit attributable to ordinary shareholders of the parent company plus assumed conversion of all dilutive potential ordinary shares	From January		1	to March 31, 2025	Loss per share (NTD) ($ 1.20) Earnings per share (NTD) $ 3.16 $ 2.88
	Amount after tax ($ 256,935) From January	Amount after		Weighted average
				share outstanding
				(thousand shares) 213,663 to March 31, 2024
			1
		Amount after		Weighted average
				share outstanding
		tax $ 674,209 $ 674,209 3,531 - $ 677,740		(thousand shares) 213,301 213,301 20,335 1,989 235,625		share (NTD) $ 3.16 $ 2.88

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The weighted average number of shares outstanding during the periods between January 1 and March 31, 2025 and 2024 has deducted the number of shares held by the subsidiary company Youe Chung Capital deemed as the Company’s treasury stock (the number of shares is based on the Company’s shareholding). Since the period between January 1 and March 31, 2025 was a loss, there was no potential dilutive effect of ordinary shares, and the diluted loss per share was equal to the basic loss per share.

(XXXII) Supplemental cash flow information

1. Investing activities with partial cash payments:

Purchase of property, plant and equipment Add: Prepayments for equipment at the end of the period Beginning balance of payable on equipment Less: Prepayments for equipment at the beginning of the period Ending balance of payable on equipment Cash paid during the year	From January 1 to March 31, 2025 $ 871,562 306,316 649,734 ( 427,812) ( 584,040) $ 815,760	From January 1 to March 31,
		2024 $ 275,415 621,275 498,861 ( 422,444) ( 557,041) $ 416,066

Financing activities with no cash flow effects:

Dividends payable	From January 1 to March 31,	From January 1 to March 31,
	2025 $-	2024 $ 373,477

(XXXIII) Changes in liabilities arising from financing activities

Short Term Loans Corporate bonds payable Long-term borrowings (including current portion) $ 6,200,355 $ 3,609,156 $ 4,315,087 ( 344,993) - 308,819 - 14,236 - - - - 60 ( 9,566) 3,476 $ 5,855,422 $ 3,613,826 $ 4,627,382	Short Term Loans Corporate bonds payable Long-term borrowings (including current portion) $ 6,200,355 $ 3,609,156 $ 4,315,087 ( 344,993) - 308,819 - 14,236 - - - - 60 ( 9,566) 3,476 $ 5,855,422 $ 3,613,826 $ 4,627,382	Lease liabilities $ 437,398 $ ( 10,768) ( 1,575 ( 1,575) ( 7,123) $ 419,507 $	Lease liabilities $ 437,398 $ ( 10,768) ( 1,575 ( 1,575) ( 7,123) $ 419,507 $	$	Total liabilities
					arising from financing activities $ 14,596,808 80,195) 15,811 1,575) 13,153) $ 14,517,696

$ 6,200,355 ( 344,993) - - 60 $ 5,855,422	$ 4,315,087 308,819 - - 3,476	$ 437,398 ( 10,768) 1,575 ( 1,575) ( 7,123) $ 419,507
	$ 4,627,382		$	$

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Short Term Loans	Long-term borrowings (including current portion	Lease liabilities $ 567,193 $ ( 12,868) ( 1,878 ( 1,878) - 8,862 $ 563,187 $	Lease liabilities $ 567,193 $ ( 12,868) ( 1,878 ( 1,878) - 8,862 $ 563,187 $	$	Total liabilities arising from financing activities $ 13,806,001 755,632 15,170 ( 1,878) 373,477 3,876

$ 5,429,370 989,779 - - - ( 1,412) $ 6,417,737	$ 4,342,556 ( 219,070) - - - 5,026	$ 567,193 ( 12,868) 1,878 ( 1,878) - 8,862 $ 563,187
	$ 4,128,512		$	$	$ 14,952,278

VII. Related Party Transactions

(I) Related parties' names and relationship

Name of the related parties Relationship with the Group Weida Hi-Tech Co., Ltd. Affiliates TrueLight Corporation Affiliate (Note 1) BKS Tec Corp. Affiliate (Note 2) Ontario Capital Co., Ltd. Other related party Taiwan Mask Charity Foundation Other related party

Note 1: The Group acquired the equity of TrueLight Corporation in March 2024, which was recognized in “Investment under Equity Method”. Please refer to Note 6(6) for details.
Note 2: The Group acquired the equity of BKS Tec Corp. in April 2024, which was recognized in “Investment under Equity Method”. Please refer to Note 6(6) for details.

(II) Significant transactions with the related parties

Operating revenue

Product sales: Affiliates	From January 1 to March 31,	From January 1 to March 31,
	2025 $ 1,723	2024 $ 2,828

There are no major abnormalities in the transaction prices and payment terms of the related party compared to that of non-related parties.

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2. Account receivable from related parties.

March 31, 2024 Accounts Receivables: Affiliates/other related party $ 1,584 Other Receivables: Affiliates/other related party1,851 Total $ 3,435	December 31, 2024 $ 2,383 1,306 $ 3,689	March 31, 2024 $ 458 611 $ 1,069

3. Account payble from related parties

Other payables: Other related party	March 31, 2025 $ 1,016	December 31, 2024 $-	March 31, 2024 $ 229

4. Acquisition of financial assets

BKS Tec Corp. was another related party to the Group. On April 1, 2024, the Group invested NT$30,000 to acquire 6,000 thousand shares of BKS Tec Corp., a 38.91% shareholding, to have a significant influence on the company. The data was recognized in “Investment under Equity Method”. Please refer to Note 6(6) for details.

Others
(1) Deposits Received:

Affiliates/other related party	March 31, 2025 $ 118	December 31, 2024 $ 118	March 31, 2024 $ 118

(2) Rent income:

Affiliates/other related party	From January 1 to March 31, 2025 $ 962	From January 1 to March 31,
		2024 $ 437

(3) Other income

Affiliates/other related party	From January 1 to March 31, 2025 $ 569	From January 1 to March 31, 2024 $ 108

(4) For the three months ended March 31, 2024, the Company’s subsidiary, Youe Chung Capital Corporation, donated 500,000 shares of the Company’s stock, totaling NT$7,115,

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to the Taiwan Mask Charitable Foundation.

(5) For the three months ended March 31, 2025 and 2024, the Company donated NT$284 and NT$599, respectively, in cash to the Taiwan Mask Charity Foundation.
Loaning of funds to related parties

Loans from related parties:

(1) Closing balance (recorded as "shortterm borrowings") March 31, 2025 December 31, 2024 March 31, 2024 Other related party $ 120,229 $ 110,969 $ 60,000

(2) Interest expenses

From January 1 to March 31, 2025 From January 1 to March 31, 2024 Other related $ 776 $ 229 party

The conditions for borrowing from related parties are that the interest is paid monthly at an annual interest rate of 2.7% after the loan is loaned, and the principal is repaid at maturity. The borrowing period is from August 3, 2023 to June 30, 2025.

(III) Compensation of key management personnel

Salary and short-term employee benefits Post-employment benefits Total	From January 1 to March 31,	From January 1 to March 31,
	2025 $ 8,562 27 $ 8,589	2024 $ 10,815 54
		$ 10,869

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VIII. Pledged assets

Assets pledged by the Corporate Group as collateral are as follows:

Assets Demand deposit (Recognized as "Financial assets at amortized cost") Time deposit (Recognized as "Financial assets at amortized cost") Stocks of publicly traded and OTC companies (recognized as "Financial assets at fair value through profit or loss") Shares of the Company (recognized as "treasury stock") (Note) Buildings and structures (including land) Machinery and equipment and equipment under acceptance Real estate investment Other equipment Intangible assets	Book value March 31, 2025 $ 536,808 359,458 2,482,887 493,070 1,230,016 4,402,479 166,261 27,930 934	December 31, 2024 $ 532,807 361,778 2,753,540 493,070 1,245,385 3,629,379 167,109 29,864 1,478 $ 9,214,410	March 31, 2024 $ 534,790 466,295 4,226,341 491,647 1,172,732 3,601,174 169,652 6,636 -	Purpose Short-term borrowings, reserve accounts, and corporate bond guarantee Short-term borrowings and customs guarantee Short Term Loans Short Term Loans Long-term Loans Long-term Loans Long-term Loans Long-term Loans Long-term Loans
	$ 9,699,843		$ 10,669,267

Note: The cost of pledged treasury stocks was NT$493,070 and its fair value was NT$1,304,573 as of March 31, 2025.

IX. Significant Contingent Liabilities and Unrecognized Contract Commitments

(I) Contingencies

None.

(II) Commitments
Machine equipment maintenance contracts that have been signed but not yet paid

March 31, 2025 December 31, 2024 March 31, 2024 Machine maintenance $ 133,960 $ 55,693 $ 44,005

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Capital expenditures that have been signed but not yet incurred

March 31, 2025 December 31, 2024 March 31, 2024 Property, plant and equipment $ 537,235 $ 1,175,844 $ 1,616,919

3. Lease agreement

Please see Note 6 (8) and (9)

X. Losses due to major disasters None.

XI. Major Events after Financial Statement Date None.

XII. Others

(I) Capital management

There was no significant change in the reporting period. Please refer to Note 12 in the 2024 consolidated financial statements.

(II) Financial instruments

1. Types of financial instrument

March 31, 2025 Financial assets Financial Assets at Fair Value Through Profit or Loss Mandatory financial assets at fair value through profit or loss $ 2,956,212 Financial assets measured at amortized cost cash and cash equivalents $ 1,234,099 Financial assets measured at amortized cost 910,814 Notes Receivables 30,265 Accounts receivable (Including related parties) 1,173,150 Other account receivable (Including related parties) 51,154 Refundable Deposit 74,076 $ 3,473,558	December 31, 2024 $ 3,316,316 $ 1,430,542 894,585 167 1,369,762 41,443 76,558 $ 3,813,057	March 31, 2024 $ 5,242,865 $ 1,562,811 1,004,085 5,767 1,283,583 32,095 90,917 $ 3,979,258

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March 31, 2025 December 31, 2024 March 31, 2024

Financial liabilities

Financial liabilities at fair value through profit or loss

Financial liabilities mandatorily measured at fair value through profit or loss Financial liabilities at amortized cost Short Term Loans Notes Payable Accounts Payable Other accounts payable (Including related parties) Corporate bonds payable Long-term borrowings (including current portion) Guarantee Deposits Received Lease liabilities	$ 27,740 $ 5,855,422 43,473 337,673 1,310,325 3,613,826 4,627,382 1,559 $ 15,789,660 $ 419,507	$ 19,204 $ 6,200,355 43,544 541,758 1,236,829 3,609,156 4,315,087 34,812 $ 15,981,541 $ 437,398	$ 11,059 $ 6,417,737 10,676 407,316 1,647,750 3,429,292 4,128,512 40,073 $ 16,081,356 $ 563,187

Risk management policies
(1) The Group’s activities expose it to a variety of financial risks, including market risk (exchange rate, interest rate and price), credit risk and liquidity risk. The Group's overall risk management programme focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Group's financial position and performance.
(2) Risk management is carried out by a central finance department (Group finance) under policies approved by the Board of Directors. Group finance identifies, evaluates and hedges financial risks in close collaboration with the Group’s operating units. The Board provides written principles for overall risk management, as well as written policies covering specific areas and matters, such as currency exchange risk, interest rate risk, credit risk, the use of derivatives and non-derivative financial instruments and investment of excess liquidity.

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3. Significant financial risks and degrees of financial risks

(1) Market risk

A. Foreign exchange risk

The Group's operations involve certain non-functional currencies (the Company’s and certain subsidiaries’ functional currency is the New Taiwan dollar (NTD), and for other certain subsidiaries, the functional currency is the US Dollars, Japanese Yen and China's Renminbi (RMB)), so it is subject to the impact of exchange rate fluctuation. The details of assets and liabilities denominated in foreign currencies whose values that would be materially affected by exchange rate fluctuations are as follows:

March 31, 2025

(Foreign currency: functional currency) Financial assets Monetary items USD : NTD RMB : NTD JPY : NTD Financial liabilities Monetary items USD : NTD JPY : NTD Euro : NTD (Foreign currency: functional currency) Financial assets Monetary items USD : NTD RMB : NTD JPY : NTD Financial liabilities Monetary items USD : NTD JPY : NTD Euro : NTD	Foreign currency (in thousand) USD 34,221 CNY 41,471 JPY 491,912 USD 11,513 JPY 870,903 EUR 3,597 December 31, 2024 Foreign currency (in thousand) USD 38,770 CNY 46,309 JPY 512,938 USD 19,898 JPY 345,127 EUR 1,787	Exchange rate	Book value (NT$ in thousands) $ 1,136,107 189,646 109,548 382,276 193,950 129,369 Book value (NT$ in thousands) $ 1,270,949 207,372 107,666 652,347 72,442 61,008
		33.205 4.573 0.2227 33.205 0.2227 35.97 Exchange rate
		32.785 4.478 0.2099 32.785 0.2099 34.14

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March 31, 2024

(Foreign currency: functional currency) Financial assets Monetary items USD : NTD RMB : NTD JPY : NTD Financial liabilities Monetary items USD : NTD JPY : NTD Euro : NTD	Foreign currency (in thousand) USD 39,253 CNY 61,803 JPY 151,050 USD 11,154 JPY 917,240 EUR 485	Exchange rate 32.000 4.408 0.2115 32.000 0.2115 34.460	Book value (NT$ in thousands) $ 1,256,083 272,426 31,947 356,930 193,996 16,718

B. Total exchange gain (loss), including realized and unrealized gains (losses) from significant foreign exchange variations on monetary items held by the Group amounted to (NT$8,241) and NT$35,825 for the periods between January 1 and March 31, 2025 and 2024, respectively.
C. The analysis of foreign currency risk due to significant exchange rate fluctuation is as follows:

(Foreign currency: functional currency) Financial assets Monetary items USD : NTD RMB : NTD JPY : NTD Financial liabilities Monetary items USD : NTD JPY : NTD Euro : NTD	From January 1 to March 31, 2025 Sensitivity Analysis Fluctuation Effect on profit or loss Other comprehensive profit and loss affected 1% $ 11,361 $ - 1% 1,896 - 1% 1,095 - 1% ( 3,823) - 1% ( 1,940) - 1% ( 1,294) -	From January 1 to March 31, 2025 Sensitivity Analysis Fluctuation Effect on profit or loss Other comprehensive profit and loss affected 1% $ 11,361 $ - 1% 1,896 - 1% 1,095 - 1% ( 3,823) - 1% ( 1,940) - 1% ( 1,294) -
	Sensitivity Analysis Fluctuation Effect on profit or loss 1% $ 11,361 1% 1,896 1% 1,095 1% ( 3,823) 1% ( 1,940) 1% ( 1,294)
	Fluctuation 1% 1% 1% 1% 1% 1%
		affected $ - - - - - -

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From January 1 to March 31, 2024

Sensitivity Analysis Fluctuation Effect on profit or loss 1% $ 12,561 1% 2,724 1% 319 1% ( 3,569) 1% ( 1,940) 1% ( 167)	Sensitivity Analysis Fluctuation Effect on profit or loss 1% $ 12,561 1% 2,724 1% 319 1% ( 3,569) 1% ( 1,940) 1% ( 167)	Other comprehensive profit and
Fluctuation 1% 1% 1% 1% 1% 1%
	loss $ 12,561 2,724 319 ( 3,569) ( 1,940) ( 167)	loss affected $ - - - - - -

Price risk

A. The equity instruments owned by the Company exposing to the price risk are financial assets at fair value through profit or loss and financial assets at fair value through other comprehensive income.
B. The Group invests primarily in equity instruments and open-end funds issued by domestic and foreign companies. The price of such equity instrument is subject to the uncertainty of the future value of investment target. If the equity instrument price had increased/decreased by 1% with all other variables held constant, net income after tax from equity instruments at fair value through profit or loss for the three months ended March 31, 2025 and 2024, would have increased/decreased by NT$5,912 and NT$10,486, respectively; other comprehensive income classified as equity investment at fair value through other comprehensive income would have increased or decreased by NT$0.

Cash flow and fair value interest rate risk

A. The Group's interest rate risk mainly comes from long-term borrowings issued at floating rates, which exposes the Group to cash flow interest rate risk. For the periods between January 1 and March 31, 2025 and 2024, the Group’s borrowings issued at floating rates were mainly denominated in New Taiwan dollars and US dollars.
B. The Group's borrowings are measured at amortized cost, and the annual interest rate is re-priced according to the contract, which exposes the Group to the risk of future market interest rate changes.
C. If the long- and short-term borrowing rates increase or decrease by 0.25%, while all other factors remain constant, the net profit after tax for the periods between January 1 and March 31, 2025 and 2024 would decrease or increase by NT$5,241 and NT$5,273, respectively, mainly due to the interest expense changes caused by

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the floating interest rate.

(2) Credit risk
A. Credit risk refers to the risk of financial loss to the Group arising from default by the clients or counterparties of financial instruments under contract obligations, and the defaults are accounts receivable and the contract cash flow from debt instruments measured at amortized cost, measured at fair value through other comprehensive income and at fair value through profit or loss.
B. The management of credit risk is established with a Group perspective. Only the banks and financial institutions with an independent credit rating of at least "A" can be accepted as transaction partners of the Group. According to the Group’s credit policy, each local entity in the Group is responsible for managing and analyzing the credit risk for each of their new clients before standard payment and delivery terms and conditions are offered. Internal risk control assesses the credit quality of the customers, taking into account their financial position, past experience and other factors. Individual risk limits are set based on internal or external ratings in accordance with limits set by the Board of Directors. The utilization of credit limits is regularly monitored.
C. The Group considers a contract payment overdue in accordance with the agreed payment terms a breach of contract.
D. The Group uses IFRS 9 to provide the following assumption as a basis for determining whether there is a significant increase in the credit risk of financial instruments after the original recognition:
- (A) If the contract payment is overdue for more than 30 days in accordance with the agreed payment terms, the credit risk of the financial asset is significantly increased since the original recognition.
- (B) For bond investments in Taipei Exchange, if any external rating agency rates it as an investment grade on the balance sheet date, the credit risk of the financial asset is considered low.
E. The Group uses the following indicators to determine the status of credit impairments of debt instruments:
- (A) The issuer has suffered significant financial difficulties or is likely to enter bankruptcy or other financial restructuring.
- (B) The issuer has suffered significant financial difficulties or is likely to enter bankruptcy or other financial restructuring.
- (C) The issuer delays or does not pay for the interest or principal.
- (D) Unfavorable changes in the national- or regional-level economic situation resulting in the issuer's default.
F. The Group categorizes the accounts receivable from customers based on the characteristics of trade credit risks. The simplified approach is adopted for estimating the expected credit loss based on the provision matrix.

G. The Group may write off the amount of financial assets that cannot be reasonably expected to be recovered after recourse. However, the Group will continue the recourse to protect the rights of the claims.

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H. The Group has incorporated forward-looking considerations to adjust the loss rate built according to historical and current data in order to estimate the loss allowance of accounts receivable and notes receivable. The provision matrix for the periods ended March 31, 2025, December 31 and March 31, 2024 are shown as follows:

Not past due March 31, 2025 Expected loss rate 0.01% Total book value $ 942,245 Loss allowance - Not past due December 31, 2024 Expected loss rate 0.01% Total book value $ 1,041,548 Loss allowance - Not past due March 31, 2024 Expected loss rate 0.01% Total book value $ 1,031,790 Loss allowance -	Up to 30 days 0.01~15.11% $ 148,657 - Up to 30 days 2.27~8.26% $ 142,862 - Up to 30 days 0.04~31.54% $ 173,506 -	31-90 days 8.22~100% $ 57,513 ( 3,997) 31-90 days 9.12~66.68% $ 116,488 ( 8,669) 31-90 days 0.04~64.10% $ 70,483 ( 4,866)	91-180 days 77.81~100% $ 17,102 ( 4,957) 91-180 days 37.32~100% $ 43,381 ( 7,468) 91-180 days 1.40~100% $ 33,400 ( 15,155)	More than 181 days past due Total 39.79~100% $ 163,659 $ 1,329,176 ( 116,807) ( 125,761) More than 181 days past due Total 75.03~100% $ 136,412 $ 1,480,691 ( 94,625) ( 110,762) More than 181 days past due Total 63.58~100% $ 22,513 $ 1,331,692 ( 22,321) ( 42,342)
Expected loss rate Total book value Loss allowance March 31, 2024 Expected loss rate Total book value Loss allowance

I. The Group adopts a simplified method in which the loss allowance for the accounts receivable is shown as follows:

January 1 Recognize impairment loss Impact from exchange rate Amounts written off due to uncollectibility March 31	2025 $ 110,762 21,245 27 ( 6,273) $ 125,761	2024 $ 29,423 12,919 - - $ 42,342

(3) Liquidity risk

A. Cash flow forecasting is performed by the operating entities of the Corporate Group and aggregated by the Group’s treasury department. The Group’s Finance Department monitors the forecasts of the Group’s demand for working capital to ensure that it has sufficient funds to meet operational needs, and maintains sufficient unspent loan commitments at all times so that the Group will not exceed the relevant borrowing limits or violate the terms. These forecasts consider the Group’s debt financing plan, compliance with debt terms, and compliance with the financial ratio objectives of the internal balance sheet.
B. The remaining cash held by each operating entity will be transferred back to the Group's finance department. The finance department of the Group invests the remaining funds in interest-bearing demand deposits, time deposits, financial

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assets at fair value through profit or loss, financial assets at amortized cost (time deposits with a maturity of more than 3 months and less than 12 months), as the instruments chosen have appropriate maturities or sufficient liquidity to provide sufficient headroom as determined by the abovementioned forecasts. As of March 31, 2025, December 31 and March 31, 2024, the money market position held by the Corporate Group was NT$2,144,913, NT$2,325,127 and NT$2,566,896, respectively, and was expected to generate immediate cash flow to manage liquidity risk.

C. The Group's unutilized borrowings are shown as follows:

Floating rate Short-term credit limits Medium to long- term credit limits Fixed rate Medium to long- term credit limits	March 31, 2025 $ 483,573 40,000 8,326 $ 531,899	December 31, 2024 $ 920,414 - 4,493 $ 924,907	March 31, 2024 $ 780,290 250,000 8,326 $ 1,038,616

D. The following table shows the Group’s non-derivative financial liabilities and derivative financial liabilities settled on a net or total amount, grouped according to the relevant maturity date. Non-derivative financial liabilities are analyzed based on the remaining period from the balance sheet date to the contract maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows.

Non-derivative financial liabilities:

Within 1 year March 31, 2025 Non-derivative financial liabilities: Short Term Loans $ 5,883,838 Notes Payable 43,473 Accounts Payable 337,673 Other accounts payable (Including related parties) 1,310,325 Lease liabilities 38,830 Corporate bonds payable 38,260 Long-term borrowings (including current portion) 1,470,111 Guarantee Deposits Received -	1 to 2 years $ - - - - 31,191 1,679,660 1,542,907 1,559	2 to 5 years $ - - - - 74,305 2,074,120 1,537,665 -	Over 5 years $ - - - - 321,461 - 347,338 -

Within 1 year 1 to 2 years 2 to 5 years Over 5 years

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December 31, 2024 Non-derivative financial liabilities: Short Term Loans $ 6,350,812 Notes Payable 43,544 Accounts Payable 541,758 Other accounts payable (Including related parties) 1,236,829 Lease liabilities 41,751 Corporate bonds payable 38,260 Long-term borrowings (including current portion) 1,339,012 Guarantee Deposits Received - Within 1 year March 31, 2024 Non-derivative financial liabilities: Short Term Loans $ 6,818,724 Notes Payable 10,676 Accounts Payable 407,316 Other accounts payable (Including related parties) 1,647,750 Lease liabilities 44,100 Corporate bonds payable 34,400 Long-term borrowings (including current portion) 1,274,893 Guarantee Deposits Received -	$ - - - - 34,076 38,260 1,232,450 34,812 1 to 2 years $ - - - - 38,009 34,400 1,206,796 40,073	$ - - - - 77,196 3,715,520 1,557,319 - 2 to 5 years $ - - - - 98,802 3,558,260 1,451,988 -	$ - - - - 337,258 - 437,867 - Over 5 years $ - - - - 442,359 - 453,248 -

(III) Fair value information

The different levels that the inputs to valuation techniques are used to measure fair value of financial and non-financial instruments have been defined as follows:
Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date. A market is regarded as active where a market in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. The fair value of the Group’s investment in stocks of publicly traded or OTC firms and beneficiary certificates is included in Level 1.
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 The fair value of the Group’s investment in stocks of non-publicly traded or non-OTC firms and private equity fund is included in Level 3.
Financial instruments not measured at fair value
Cash, notes receivable, accounts receivable, other receivable, short-term borrowings, notes payable, accounts payable and other payable as reasonable approximation of fair value.
The related information for financial and non-financial instruments measured at fair

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value by level on the basis of the nature, characteristics and risks of the assets and liabilities is as follows:

March 31, 2025 Level 1 Assets Recurring fair value measurements Financial Assets at Fair Value Through Profit or Loss Equity securities $ 2,755,658 Liabilities Recurring fair value measurements Financial liabilities at fair value through profit or loss Convertible bond call/put options $- December 31, 2024 Level 1 Assets Recurring fair value measurements Financial Assets at Fair Value Through Profit or Loss Equity securities $ 3,129,075 Liabilities Recurring fair value measurements Financial liabilities at fair value through profit or loss Convertible bond call/put options $- March 31, 2024 Level 1 Assets Recurring fair value measurements Financial Assets at Fair Value Through Profit or Loss Equity securities $ 5,021,974 Beneficiary certificates 500 $ 5,022,474 Liabilities Recurring fair value measurements Financial liabilities at fair value through profit or loss Convertible bond call/put options $-	Level 2 $ 58,302 $- Level 2 $ 57,520 $- Level 2 $ 86,308 - $ 86,308 $-	Level 3 $ 142,252 $ 27,740 Level 3 $ 129,721 $ 19,204 Level 3 $ 134,083 - $ 134,083 $ 11,059	Total $ 2,956,212 $ 27,740 Total $ 3,316,316 $ 19,204 Total $ 5,242,365 500 $ 5,242,865 $ 11,059

The methods and assumptions adopted by the Group for assessing the fair value are as

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follows:

(1) The Group adopt market pricing as the input of fair value (i.e. Level 1), and the breakdown of the characteristics of the instrument is as follows:

Shares of listed and OTC company Open-end funds Market price Closing price Net Value

(2) Except for the abovementioned financial instruments with active markets, the fair value of the remaining financial instruments is obtained using valuation techniques. The fair value obtained through valuation techniques can refer to the current fair value of other financial instruments with similar substantive conditions and characteristics, discounted cash flow method, or other valuation techniques, including the use of market information available on the date of the consolidated balance sheet (for example, the Taipei Exchange refers to the yield curve, the Reuters adopts the average quotation of interest rate of commercial promissory notes).
(3) The output of the valuation model is the estimated value, and the valuation technique may not reflect all the relevant factors of the financial instruments and non-financial instruments held by the Group. Therefore, the estimated value of the valuation model will be appropriately adjusted according to additional parameters, such as model risk or liquidity risk. According to the Group's fair value valuation model management policies and related control procedures, the management believes that in order to properly express the fair value of financial instruments and non-financial instruments in the consolidated balance sheet, valuation adjustments are appropriate and necessary. The price information and parameters used in the valuation process are carefully assessed and appropriately adjusted according to current market conditions.
(4) The Group incorporates credit risk valuation adjustments into the consideration of the fair value of financial instruments and non-financial instruments to reflect counterparty credit risk and the credit quality of the Group, respectively.
There were no transfers between Level 1 and 2 in the periods between January 1 and March 31, 2025 and 2024.
The following table shows the changes in Level 3 in the periods between January 1 and March 31, 2025 and 2024:

January 1, 2025 Acquisition cost of the period Transferred out of Level 3 Recognized in profit or loss of the period Impact from exchange rate March 31, 2025	Financial instruments $ 110,517 15,000 ( 2,925) ( 8,536) 456
	$ 114,512

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January 1, 2024 Acquisition cost of the period Recognized in profit or loss of the period Impact from exchange rate March 31, 2024	Financial instruments $ 104,312 20,000 ( 1,676) 388
	$ 123,024

As Image Match Design Inc. was officially listed on the Emerging Stock Market on March 10, 2025, and trading volume in the market has increased steadily, sufficient observable market data has become available. Accordingly, the Group reclassified the fair value measurement of the investment from Level 3 to Level 2 at the end of the month in which the event occurred.
The quantitative information about the significant unobservable input value of the valuation model and the sensitivity analysis of the significant unobservable input value change used in the Level 3 fair value measurements are explained as follows:

March 31, 2025

Derivative equity/liability instruments: Shares of non-listed and non-OTC company $ Convertible bond call/put options ( December 31, 2024 Derivative equity/liability instruments: Shares of non-listed and non-OTC company $ Convertible bond call/put options (	Fair value Valuation technique 142,252 Net asset value method 27,740) Convertible bond evaluation model Fair value Valuation technique 129,721 Net asset value method 19,204) Convertible bond evaluation model	Significant unobservable inputs Range (weighted average) Relationship between inputs and fair value Net asset value - The higher the net asset value, the higher the fair value Stock price volatility 35.83% The higher the stock price volatility, the higher the fair value Significant unobservable inputs Range (weighted average) Relationship between inputs and fair value Net asset value - The higher the net asset value, the higher the fair value Stock price volatility 32.66% The higher the stock price volatility, the higher the fair value	Relationship between

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March 31, 2024

March 31, 2024
Fair value Valuation technique Significant unobservable inputs Range (weighted average) Derivative equity/liability instruments: Shares of non-listed and non-OTC company $ 134,083 Net asset value method Net asset value - Convertible bond call/put options ( 11,059) Convertible bond evaluation model Stock price volatility 26.79%	Range (weighted	Relationship between inputs and
		fair value The higher the net asset value, the higher the fair value The higher the stock price volatility, the higher the fair value

The Corporate Group has carefully assessed the valuation models and parameters used to measure fair value. However, use of different valuation models or parameters may result in different measurement. For financial assets or liabilities classified in Level 3, changes in valuation parameters have the following impacts on the income or other comprehensive income of the period:

March 31, 2025

			March 31, 2025	March 31, 2025	March 31, 2025
Financial assets Equity instruments Debt Financial assets Equity instruments Debt	Inputs Net asset value Stock price volatility Inputs Net asset value Stock price volatility	Changes ± 1% ± 1% Changes ± 1% ± 1%	Recognized in profit or loss Recognized in other comprehensive income Favorable changes Adverse changes Favorable changes Adverse changes $ 1,423 ($ 1,423) $ - $ - 50 ( 40) - - $ 1,473 ($ 1,463) $- $- December 31, 2024 Recognized in profit or loss Recognized in other comprehensive income Favorable changes Adverse changes Favorable changes Adverse changes $ 1,297 ($ 1,297) $ - $ - 50 ( 50) - - $ 1,347 ($ 1,347) $- $-
			Favorable changes $ 1,297 50	Adverse changes ($ 1,297) ( 50)	Favorable changes $ - - $-
			$ 1,347	($ 1,347)

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Financial assets Equity instruments Debt	Inputs Net asset value Stock price volatility	Changes ± 1% ± 1%	March 31, 2024 Recognized in profit or loss Recognized in other comprehensive income Favorable changes Adverse changes Favorable changes Adverse changes $ 1,341 ($ 1,341) $ - $ - 30 ( 30) - - $ 1,371 ($ 1,371) $- $-	March 31, 2024 Recognized in profit or loss Recognized in other comprehensive income Favorable changes Adverse changes Favorable changes Adverse changes $ 1,341 ($ 1,341) $ - $ - 30 ( 30) - - $ 1,371 ($ 1,371) $- $-	March 31, 2024 Recognized in profit or loss Recognized in other comprehensive income Favorable changes Adverse changes Favorable changes Adverse changes $ 1,341 ($ 1,341) $ - $ - 30 ( 30) - - $ 1,371 ($ 1,371) $- $-
			Favorable changes $ 1,341 30	Adverse changes ($ 1,341) ( 30)	Favorable changes $ - - $-
			$ 1,371	($ 1,371)

(IV) Sound Business Plan

As of March 31, 2025, the Group’s financial structure showed a debt ratio of 81% and a current ratio of 72%. In response, the Group has formulated and is actively implementing a sound business plan that addresses capital, operations and governance.

On the capital front, the Group continues to sign credit facility agreements with its major banks and has completed the renewal of short-term credit lines. In addition, the Group plans to raise funds in 2025 through private placement or cash capital increase to strengthen working capital and reduce the debt ratio.

In terms of operations, the Group has streamlined its organizational structure, optimized capacity allocation, strictly controlled raw material procurement and expense spending, and implemented a tiered tracking mechanism for accounts receivable to improve gross margin and accelerate cash collection.

In terms of governance, the Group has implemented an enterprise-wide risk management mechanism and established a quarterly reporting system to regularly update the Board of Directors and the Audit Committee on the execution status. The Group also evaluates market conditions to dispose of non-core assets or reinvestments as needed to supplement cash flow.

The Group expects that the full implementation of the above measures will ensure its ability to continue as a going concern and maintain long-term financial stability.

XIII. Supplementary Disclosure

(I) Significant transactions information

Loans to others: Please refer to Table 1.
Provision of endorsements and guarantees to others: Please refer to Table 2.
Holding of marketable material securities at the end of the period (not including subsidiaries, associates and joint ventures): Please refer to Table 3.
Purchases or sales of goods from or to related parties reaching NT$100 million or 20% of paid-in capital or more: None.
Receivables from related parties reaching NT$100 million or 20% of paid-in capital or more: None.
Engaged in derivative trading: None.

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Significant inter-company transactions during the reporting periods: Please refer to Table 4.
(II) Information on investees

Names, locations and other information of investee companies (not including investees in Mainland China): Please refer to Table 5.

(III) Information on investments in Mainland China
Basic information: Please refer to Table 6.
Significant transactions, either directly or indirectly through a third party or region, with investee companies in China: Please refer to Table 4.

XIV. Segments Information

(I) General information

Management has determined the reportable operating segments based on reports reviewed by the president and used to make strategic decisions.
The Group's corporate structure, the basis for division of segments, and the basis for measurement of segment information have not changed significantly during the current period.
(II) Segments Information
Information on the reporting segments provided to the chief operating decision maker is shown as follows:

From January 1 to March 31, 2025:

Revenue from external clients Segment revenue Segment margin Segment margin include: Depreciation Amortization expense Financial Costs Interest income Investments income recognized by using equity method Segment assets	Photomask and semiconductor segment	Medical segment $ 101,072 ($ 1,206) ($ 31,875) ($ 17,945) ($ 4,037) ($ 5,163) $ 3 $- $ 1,122,321	Total $ 1,627,957 ($ 36,922) ($ 308,798) ($ 357,300) ($ 19,482) ($ 81,443) $ 3,343 ($ 7,291) $ 20,422,277
	$ 1,526,885 ($ 35,716) ($ 276,923) ($ 339,355) ($ 15,445) ($ 76,280) $ 3,340 ($ 7,291) $ 19,299,956

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From January 1 to March 31, 2024:

Revenue from external clients Segment revenue Segment margin Segment margin include: Depreciation Amortization expense Financial Costs Interest income Investments income recognized by using equity method Segment assets	Photomask and semiconductor segment	Medical segment $ 34,510 ($ 1,924) ($ 67,815) ($ 14,417) ($ 2,198) ($ 6,565) $- $- $ 1,074,471	Total $ 1,850,048 ($ 25,797) $ 630,366 ($ 307,621) ($ 30,065) ($ 79,205) $ 7,562 ($ 10,600) $ 22,408,669
	$ 1,815,538 ($ 23,873) $ 698,181 ($ 293,204) ($ 27,867) ($ 72,640) $ 7,562 ($ 10,600) $ 21,334,198

(III) Reconciliation for segment income

Sales between segments are conducted according to the principle of transactions at fair value. The operating revenue from external customers reported to the operating decision maker is measured in a manner consistent with that in the income statement.

The consolidated income, assets and liabilities of related segments are consistent with the consolidated income, consolidated assets and consolidated liabilities, so there is no reconciliation information.

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Taiwan Mask Corporation and Subsidiaries

Loans to Others

From January 1 to March 31, 2025

No. (Note 1) Table 1	Companythat lent funds	Borrowing party	General ledger account	Related party?	Highest balance in the current period	Ending balance	Amount Actually Drawn	Range of interest rate	Nature of loan	Amount of transaction with borrower	Reason for short-term financing	Amount of recognized impairment loss	Coll	ateral	Limit on loans granted to a single party Ceiling on total loangranted Note Unit: NT$ Thousand (Unless otherwise specified)	Limit on loans granted to a single party Ceiling on total loangranted Note Unit: NT$ Thousand (Unless otherwise specified)
													Name	Value
0 0 0 1 1 1 2 3 4	Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Youe Chung Capital Corporation Youe Chung Capital Corporation Youe Chung Capital Corporation Miracle Technology CO., LTD. Miko-China Enterprise (Shanghai) Co., Ltd. Pilot Energy Co., Ltd.	Youe Chung Capital Corporation Aptos Technology INC. Innova Vision INC. Aptos Technology INC. Xsense Technology Corporation (B.V.I.) Taiwan Branch Innova Vision INC. Aptos Technology INC. Sichuan Miracle Power Technology Co., Ltd. Xsense Technology Corporation (B.V.I.) Taiwan Branch	Other Receivables`－` Related Parties Other Receivables`－` Related Parties Other Receivables`－` Related Parties Other Receivables`－` Related Parties Other Receivables`－` Related Parties Other Receivables`－` Related Parties Other Receivables`－` Related Parties Other Receivables`－` Related Parties Other Receivables`－` Related Parties	Y Y Y Y Y Y Y Y Y	300,000 $ 130,000 50,000 350,000 320,000 180,000 170,000 109,752 90,000	300,000 $ 130,000 50,000 350,000 320,000 90,000 170,000 64,022 40,000	300,000 $ 83,000 50,000 340,000 310,000 90,000 170,000 41,157 40,000	2.700% 2.700% 2.700% 2.700% 2.700% 2.700% 2.700% 2.509% 2.700%	Short-term financing Short-term financing Short-term financing Short-term financing Short-term financing Short-term financing Short-term financing Short-term financing Short-term financing	- - - - - - - - -	Working Capital Turnover Working Capital Turnover Working Capital Turnover Working Capital Turnover Working Capital Turnover Working Capital Turnover Working Capital Turnover Working Capital Turnover Working Capital Turnover	- 83,000 - 340,000 310,000 - 170,000 - 40,000	Promissory note Promissory note Promissory note Promissory note Promissory note Promissory note Promissory note None Promissory note	300,000 $ 83,000 50,000 350,000 330,000 90,000 170,000 - 40,000	1,445,484 $ 1,445,484 1,445,484 269,611 269,611 269,611 105,752 184,857 120,748	1,445,484 $ Note 2 1,445,484 Note 2 1,445,484 Note 2 269,611 Note 4 269,611 Note 4 269,611 Note 4 105,752 Note 3 184,857 Note 6 120,748 Note 5

Note 1: The description of the number columns are as follows:

(1) Fill in "0" for the issuer.
(2) The investee company is numbered in sequence starting from the Arabic numeral 1 according to company type.

Note 2: Amendment to the Procedures for Lending Funds to Others:

(1) Total amount of loans: The total amount of the Company's loans shall not exceed 40% of the Company's net value.
(2) For companies or businesses that have business dealings with the Company, the loan amount of each individual borrowers shall not exceed the amount of transactions between the two parties in the most recent year and not exceed 40% of the Company net value.
(3) For companies or businesses that have a short-term financing need, the loan amount of each individual borrower shall not exceed the amount of transactions between the two parties in the most recent year and not exceed 40% of the Company’s net value.
(4) Inter-company loans of funds between overseas companies in which the Company owns, directly or indirectly, 100% of the voting shares, are not restricted by the abovementioned paragraphs. However, the total amount of loans and the amount of loan to a single party shall not exceed 50% of the Company's ne Note 3: Subsidiary - Miracle Technology Procedures for Lending Funds to Others
(1) Total amount of loans: The total amount of the Company's loans shall not exceed 40% of the Company's net value.
(2) For companies or businesses that have business dealings with the Company, the loan amount of each individual borrowers shall not exceed the amount of transactions between the two parties in the most recent year and not exceed 40% of the Company net value.
(3) For companies or businesses that have a short-term financing need, the loan amount of each individual borrower shall not exceed the amount of transactions between the two parties in the most recent year and not exceed 40% of the Company’s net value.
(4) Inter-company loans of funds between overseas companies in which the Company owns, directly or indirectly, 100% of the voting shares, are not restricted by the abovementioned paragraphs. However, the total amount of loans and the amount of loan to a single party shall not exceed 50% of the Company's ne Note 4: Subsidiary - Youe Chung Capital Corporation Procedures for Lending Funds to Others
(1) Total amount of loans: The total amount of the Company's loans shall not exceed 40% of the Company's net value.
(2) For companies or businesses that have a short-term financing need, the loan amount of each individual borrower shall not exceed the amount of transactions between the two parties in the most recent year and not exceed 40% of the Company’s net value. Note 5: Subsidiary - Pilot Energy Co., Ltd. Procedures for Lending Funds to Others:

The Company shall not loan funds to any of its shareholders or any other person except under the following circumstances:

(1) Where an inter-company or inter-firm business transaction calls for a loan arrangement.
(2) Where an inter-company or inter-firm short-term financing facility is necessary, provided that such financing amount shall not exceed 40% of the lender's net worth.
Note 6: Subsidiary - Miko-China Enterprise (Shanghai) Co., Ltd. Procedures for Lending Funds to Others:
(1) Total amount of loans: The total amount of the Company's loans shall not exceed 40% of the Company's net value.
(2) For companies or businesses that have a short-term financing need, the loan amount of each individual borrower shall not exceed the amount of transactions between the two parties in the most recent year and not exceed 40% of the Company’s net value.

~75~

Taiwan Mask Corporation and Subsidiaries

Endorsements and Guarantees to Others

From January 1 to March 31, 2025

Attachment 2

Unit: NT$ Thousand (Unless otherwise specified)

Party being endorsed/guaranteed

No.

No.
(Note 1)	Endorser/guarantor	Name of Company	Relationship (Note 2)	Limits on Endorsement/Guarantee Amount Provided to Each Guarantee(Notes 3,4,5)	Maximum Balance of Endorsement/Guarantee for the Period	Ending Balance of Endorsement/ Guarantee	Amount Actually Drawn	Endorsement/guarantee amount secured by property	Ratio of Accumulated Endorsement/Guarantee to Net Equity per Latest Financial Statements	Maximum Endorsement/Guarantee Amount Allowable(Notes 3,4,5,)	Guarantee Provided by Parent Companyto Subsidiary	Guarantee Provided by Subsidiary to Parent Company	Guarantee Provided to Subsidiaries in Mainland China Note
0 1 1 2	Taiwan Mask Corporation Miracle Technology CO., Miracle Technology CO., LTD. Miko-China Enterprise (Shanghai) Co., Ltd.	Miracle Technology CO., LTD. Xsense Technology Aptos Technology INC. Miracle Technology CO., LTD.	2 1 1 3	229,550 $ 105,752 105,752 462,143	132,820 $ 150,000 20,000 233,223	132,820 $ 146,000 20,000 233,223	- $ 146,000 20,000 233,223	- $ 146,000 20,000 233,223	3.68% 1,445,484 $ 55.22% 105,752 7.56% 105,752 50.47% 462,143		Y N N N	N N N Y	N Note 3 N Note 5 N Note 5 N Note 4

Note 1: The description of the number columns are as follows:

(1) Fill in "0" for the issuer.
(2) The investee company is numbered in sequence starting from the Arabic numeral 1 according to company type.
Note 2: The relationship between the guarantor and the guarantee is one of the seven types indicated below:
(1) A company with which it does business.
(2) A company in which the 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 Company.
(4) Companies in which the Company holds, directly or indirectly, 90% or more of the voting shares may make endorsements/guarantees for each other.
(5) A company that is mutually insured by a contract between peers or co-founders based on the needs of the contracted work.
(6) A company guaranteed by contributing shareholders in proportion to their shareholdings due to a joint investment relationship. Note 3: The Company's endorsement and guarantee practices for others provide that:
(1) The total amount of the Company's external endorsement guarantee shall not exceed 30% of the Company's paid-in capital.
(2) The amount of business transactions refers to the higher of the amount of goods purchased or sold between the parties.
(3) Companies with which the Company has a parent-child relationship: The endorsement and guarantee for a single enterprise shall not exceed 10% of the Company's paid-in capital and the company's paid-in capital being endorsed and guaranteed.
(4). The aggregate amount of the endorsement and guarantee of the Company and its subsidiaries as a whole shall not exceed 40% of the net worth of the Company, of which the endorsement and guarantee of a single subsidiary shall not exceed 20% of the net worth of the Company. Note 4: Miko-China Enterprise (Shanghai) Co., Ltd. Endorsement and Guarantee Procedures: The total amount of endorsement guarantee liability is limited to RMB 30 million, and the amount of endorsement guarantee for a single enterprise shall not exceed RMB 30 million; however, for the parent company that directly or indirectly holds, through a subsidiary, more than 50% of the common stock equity of a company, it may endorse up to its net value. Note 5: Subsidiary - Miracle Technology Co., Ltd. Endorsement and Guarantee Procedures:
The aggregate amount of cumulative external endorsement guarantees shall not exceed 40% of the net value of the Company's most recent audited or reviewed financial statements.

~76~

Taiwan Mask Corporation and Subsidiaries

Ending holdings of significant marketable securities (excluding investments in subsidiaries, associates, and joint ventures)

March 31, 2025

Table 3

Unit: NT$ Thousand

(Unless otherwise specified)

Companyname of the shareholding	Marketable securities	Relationship with the marketable securities issuer	General ledger account		End o	fperiod		Note
				Number of shares	Book value	Ownership	Fair value
Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Youe Chung Capital Corporation Youe Chung Capital Corporation Youe Chung Capital Corporation Youe Chung Capital Corporation Youe Chung Capital Corporation Youe Chung Capital Corporation Youe Chung Capital Corporation Youe Chung Capital Corporation Youe Chung Capital Corporation Jing Hao Investment Co., Ltd. Jing Hao Investment Co., Ltd. Aptos Technology INC. Miko-China Enterprise (Shanghai)	Common stocks of United Microelectronics Corporation Common stock of China Steel Structure Co., Ltd. Common stocks of Avision Inc. through private placement. Common Stock of 3S Silicon Tech Inc. Unsecured corporate bonds of Xsense Technology Corp Common stocks of United Microelectronics Corporation Common stocks of Microtek International Common stocks of Taiwan Mask Common stock of China Steel Structure Co., Ltd. Common stocks of Image Match Design Inc. B Current Impact Investment B Current Impact Investment Partnership Intellectual Property Innovation Corporation Partnership Fund Wisdom Capital Limited Partnership G-TECH ELECTRONICS LTD. Common stocks of MEMCHIP TECHNOLOGY CO., LTD. Common stocks of TOPFUN TECHNOLOGY INC. Common stocks of Shenzhen He Mei Jing Yi	None None None None The parent company of the Company None None Parent company None None The Company is a director of that company None None None None None None None	~77~ Financial Assets at Fair Value Through Profit or Loss - Current Financial Assets at Fair Value Through Profit or Loss - Current Financial Assets at Fair Value Through Profit or Loss - Non Current Financial Assets at Fair Value Through Profit or Loss - Non Current Financial assets measured at amortized cost Financial Assets at Fair Value Through Profit or Loss - Current Financial Assets at Fair Value Through Profit or Loss - Current Financial Assets at Fair Value Through Profit or Loss - Non Current Financial Assets at Fair Value Through Profit or Loss - Current Financial Assets at Fair Value Through Profit or Loss - Cur Financial Assets at Fair Value Through Profit or Loss - Non Current Financial Assets at Fair Value Through Profit or Loss - Non Current Financial Assets at Fair Value Through Profit or Loss - Non Current Financial Assets at Fair Value Through Profit or Loss - Non Current Financial Assets at Fair Value Through Profit or Loss - Non Current Financial Assets at Fair Value Through Profit or Loss - Non Current Financial Assets at Fair Value Through Other Financial Assets at Fair Value Through Profit or Loss -	7,554,000 14,329,000 10,000,000 1,000,000 - 4,680,000 30,538,000 35,331,440 23,514,000 r 116,000 1,000,000 750,000 - - 1,097,092 187,915 100,000 400,000	337,286 $ 697,822 31,100 23,540 100,000 208,962 366,456 1,330,229 1,145,132 3,662 10,000 7,500 20,000 82,802 - - - 21,950	0.06% 7.16% 4.61% 2.69% - 0.04% 14.85% 13.77% 11.76% 0.48% 10.00% - - - 8.08% 3.13% 12.27% 0.31%	337,286 $ 697,822 31,100 23,540 100,000 208,962 366,456 1,330,229 1,145,132 3,662 10,000 7,500 20,000 82,802 - - - 21,950	1,800 lots pledged 14,160 lots pledged Eliminated in the consolidated financial statements 4,680 lots pledged 30,000 lots pledged 34,650 lots were pledged, and treated as treasury stock in the consolidated financial statements 23,490 lots pledged

Unit: NT$ Thousand (Unless otherwise specified)

Table 4

Taiwan Mask Corporation and Subsidiaries

Business relationships and material transactions between the parent company and its subsidiaries

From January 1 to March 31, 2025

Status of transaction

No.

No.
(Note 1)	Name of the counterparty	Counterparty	Relationship (Note 2)	General ledger account	Amount	Transaction terms	Percentage of consolidated total operating revenues or total assets (Note 3)
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 2 2 4 4 4 4 4 4 4 5 6 7	Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Taiwan Mask Corporation Miracle Technology CO., LTD. Miracle Technology CO., LTD. Miracle Technology CO., LTD. Miracle Technology CO., LTD. Miracle Technology CO., LTD. Miracle Technology CO., LTD. Miracle Technology CO., LTD. Miko-China Enterprise (Shanghai) Co., Ltd. Miko-China Enterprise (Shanghai) Co., Ltd. Youe Chung Capital Corporation Youe Chung Capital Corporation Youe Chung Capital Corporation Youe Chung Capital Corporation Youe Chung Capital Corporation Youe Chung Capital Corporation Youe Chung Capital Corporation Pilot Energy Co., Ltd. Innova Vision INC. iPro Vision Inc.	Miracle Technology CO., LTD. Miracle Technology CO., LTD. Miracle International Enterprise(Shanghai) Co., Ltd. Miracle International Enterprise(Shanghai) Co., Ltd. Miracle Technology CO., LTD. Aptos Technology INC. Innova Vision INC. Aptos Technology INC. Innova Vision INC. Youe Chung Capital Corporation Xsense Technology Corporation (B.V.I.) Taiwan Branch Xsense Technology Corporation (B.V.I.) Taiwan Branch Youe Chung Capital Corporation Aptos Technology INC. Innova Vision INC. Youe Chung Capital Corporation Aptos Technology INC. Xsense Technology Corporation (B.V.I.) Taiwan Branch Miracle International Enterprise(Shanghai) Co., Ltd. Miracle International Enterprise(Shanghai) Co., Ltd. Aptos Technology INC. Aptos Technology INC. Aptos Technology INC. Miracle Technology CO., LTD. Sichuan Miracle Power Technology Co., Ltd. Aptos Technology INC. Aptos Technology INC. Xsense Technology Corporation (B.V.I.) Taiwan Branch Aptos Technology INC. Xsense Technology Corporation (B.V.I.) Taiwan Branch Xsense Technology Corporation (B.V.I.) Taiwan Branch Innova Vision INC. Xsense Technology Corporation (B.V.I.) Taiwan Branch iPro Vision Inc. Innova Vision INC.	1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3	Sales Endorsement and guarantee Sales Accounts Receivables Accounts Receivables Other Receivables Rental income Rental income Other Receivables Other Receivables Other Receivables Rental income Other receivables (loans of funds) Other receivables (loans of funds) Other receivables (loans of funds) Interest income Interest income Endorsement and guarantee Sales Accounts Receivables Endorsement and guarantee Other receivables (loans of funds) Other Receivables Endorsement and guarantee Other receivables (loans of funds) Other receivables (loans of funds) Other Receivables Other Receivables Interest income Other receivables (loans of funds) Interest income Other receivables (loans of funds) Other receivables (loans of funds) Accounts Receivables Sales	1,892 132,820 6,999 6,903 1,931 108,999 4,426 12,026 88,583 1,997 25,136 10,920 300,000 83,000 50,000 1,997 1,132 146,000 26,017 16,214 20,000 170,000 3,282 233,223 41,157 340,000 9,613 2,064 2,264 310,000 2,064 90,000 40,000 28,805 1,206	Net 60 Same with other customers Net 60 Net 60 Net 60 Receipt and payment at an agreed time Same with other customers Same with other customers Receipt and payment at an agreed time Receipt and payment at an agreed time Receipt and payment at an agreed time Same with other customers Receipt and payment at an agreed time Receipt and payment at an agreed time Receipt and payment at an agreed time Receipt and payment at an agreed time Receipt and payment at an agreed time Same with other customers Net 30 Net 30 Same with other customers Receipt and payment at an agreed time Receipt and payment at an agreed time Same with other customers Receipt and payment at an agreed time Receipt and payment at an agreed time Receipt and payment at an agreed time Receipt and payment at an agreed time Receipt and payment at an agreed time Receipt and payment at an agreed time Receipt and payment at an agreed time Receipt and payment at an agreed time Receipt and payment at an agreed time Net 60 Receipt and payment at an agreed time	0.12% 0.65% 0.43% 0.03% 0.01% 0.53% 0.27% 0.74% 0.43% 0.01% 0.12% 0.67% 1.47% 0.41% 0.24% 0.12% 0.07% 0.71% 1.60% 0.08% 0.10% 0.83% 0.02% 1.14% 0.20% 1.66% 0.05% 0.01% 0.14% 1.52% 0.13% 0.44% 0.20% 0.14% 0.07%

Note 1: The numbers filled in for the transaction company in respect of inter-company transactions are as follows:

(1) Parent company is "0".
(2) The subsidiaries are numbered in order starting from "1".

Note 2: Relationship between transaction company and counterparty is classified into the following three categories; fill in the number of category each case belongs to (If transactions between parent company and subsidiaries or between subs For transactions between two subsidiaries, if one of the subsidiaries has disclosed the transaction, then the other is not required to disclose the transaction):

(1) Parent company to subsidiary.
(2) Subsidiary to parent company.
(3) Subsidiary to subsidiaries.

Note 3: Regarding percentage of transaction amount to consolidated total operating revenues or total assets, it is computed based on period-end balance of transaction to consolidated total assets for balance sheet accounts and based on accum Note 4: Only transactions with an amount of more than NT$1 million will be disclosed, and transactions with related parties will not be disclosed separately.

~78~

Taiwan Mask Corporation and Subsidiaries

Names, locations and other information of investee companies (not including investees in Mainland China)

From January 1 to March 31, 2025

Table 5

Unit: NT$ Thousand (Unless otherwise specified)

Name of Investor	Investee	Location	Main business activities	Initial investm	ent amount	Shares hel	d at the end of thep	eriod	Profit (loss) of the investee for the current period	Investment profit (loss) recognized for the currentperiod	Note
				Balance at the end ofperiod	End of thepreviousyear	Number of shares	Ownership	Book value
`台灣光罩`(`股`)`公司` `台灣光罩`(`股`)`公司` `台灣光罩`(`股`)`公司` `台灣光罩`(`股`)`公司` `台灣光罩`(`股`)`公司` `台灣光罩`(`股`)`公司` `台灣光罩`(`股`)`公司` `台灣光罩`(`股`)`公司` `台灣光罩`(`股`)`公司` `友縳投資`(`股`)`公司` `友縳投資`(`股`)`公司` `友縳投資`(`股`)`公司` `友縳投資`(`股`)`公司` `友縳投資`(`股`)`公司` `友縳投資`(`股`)`公司` `友縳投資`(`股`)`公司` `友縳投資`(`股`)`公司` `友縳投資`(`股`)`公司` `群豐科技`(`股`)`公司` `群成能源`(`股`)`公司` `美祿科技`(`股`)`公司` `晶皓投資`(`股`)`公司` `昱嘉科技`(`股`)`公司` `昱嘉科技`(`股`)`公司` Innova Vision INC. Innova Vision (B.V.I) Inc. `百樂千翔能源`(`股`)`公司`	SunnyLake Park International Holdings, Inc. `友縳投資`(`股`)`公司` `昱厚生技`(`股`)`公司` `美祿科技`(`股`)`公司` `威達高科`(`股`)`公司` `昱嘉科技`(`股`)`公司` ONE TEST SYSTEMS `百樂千翔能源`(`股`)`公司` `光環科技`(`股`)`公司` `昱厚生技`(`股`)`公司` Xsense Technology Corporation `艾格生科技`(`股`)`公司` `群豐科技`(`股`)`公司` `昱嘉科技`(`股`)`公司` `數可科技`(`股`)`公司` `百樂千翔能源`(`股`)`公司` `閃點半導體`(`股`)`公司` `波克夏科技`(`股`)`公司` `新旭有限公司` Aptos Global Holding Corp. `晶皓投資`(`股`)`公司` Miko Technology Co., Ltd `英諾華科技`(`股`)`公司` Innova Vision (B.V.I) Inc. iPro Vision Inc. iPro Vision Inc. `群成能源`(`股`)`公司`	`英屬維京群島` `台灣` `台灣` `台灣` `台灣` `台灣` `美國` `台灣` `台灣` `台灣` `英屬維京群島` `台灣` `台灣` `台灣` `台灣` `台灣` `台灣` `台灣` `薩摩亞` `塞席爾` `台灣` `香港` `台灣` `英屬維京群島` Japan Japan `台灣`	`轉投資其他公司` `轉投資其他公司` `醫療、研發、製造` `電子零組件製造、電子材料及精密儀` `器批發與功率元件設計等` `顯示面板控制晶片及其模組之研究、` `設計、開發、製造及銷售` `醫療器材設備製造、零售、批發及國` `際貿易` `研發、設計檢測設備及相關元件` `電子零組件及能源技術服務業` `光纖通訊相關產品` `醫療、研發、製造` `貴重金屬鍍膜` `貴重金屬鍍膜` NAND`型快閃記憶體及固態硬碟等相關` `產品設計、封裝、測試` `醫療器材設備製造、零售、批發及國` `際貿易` 3D`列印及塑膠模具設計` `電子零組件及能源技術服務業` `記憶體產品零售及批發` `電子零組件製造` `轉投資其他公司` `轉投資其他公司` `轉投資其他公司` `電子零組件製造、電子材料及精密儀` `器批發與功率元件設計等` `隱形眼鏡銷售` `轉投資其他公司` Sales of contact lens Sales of contact lens `電子零組件及能源技術服務業`	103,045 $ 1,260,000 163,871 252,651 293,371 688,924 121,372 180,000 410,400 64,483 325,965 - 434,692 151,533 139,072 178,500 43,590 30,000 - 29,795 10,012 37 64,650 60,157 84,204 56,420 413,050	103,045 $ 1,260,000 165,686 252,651 293,371 598,721 121,372 180,000 410,400 73,251 325,965 - 434,692 151,533 139,072 178,500 43,590 30,000 - 29,795 10,012 37 64,650 60,157 84,204 56,420 413,050	3,120,000 534,877,568 12,046,652 22,955,033 12,176,880 23,416,722 940,000 3,600,000 13,500,000 249,223 1 12,189,191 28,481,161 47,185 7,281,250 7,000,000 4,359,000 6,000,000 - 10,000,000 29,731,315 10,000 3,000,000 1,000,000 6,400 5,900 9,984,526	100% 100% 20.29% 100% 28.20% 66.71% 100% 20.00% 12.11% 0.42% 100.00% 53.00% 47.19% 0.13% 57.39% 38.89% 52.84% 38.91% 100% 100% 100% 100% 100% 100% 52.03% 47.97% 100%	6,083 $ 295,485) ( 42,130 382,261 24,198 101,893 84,613 70,328 390,182 872 6,237 146,435) ( 339,688) ( 360 124,039 154,789 14,865 14,501 - - 390,820 7,162 1,104) ( 1,052) ( 1,342) ( 1,239) ( 50,675	11 $ 1,260,009) ( 12,875) ( 183,323) ( 5,936) ( 31,938) ( 1,844) ( 60,171) ( 8,290 12,875) ( 13 76,484) ( 12,819) ( 31,938) ( 3,861) ( 60,171) ( 9,028) ( 9,503) ( - - 7,784 6 2,398 116) ( 241) ( 241) ( 1,248) (	11 $ 172,529) ( 2,654) ( 10,041) ( 1,731) ( 22,319) ( 1,844) ( 4,019) ( 1,045 255) ( 13 40,534) ( 6,049) ( 46) ( 2,216) ( 7,815) ( 4,770) ( 3,698) ( - - 7,784 6 2,398 116) ( 125) ( 116) ( 330) (	`註`

Note: As of March 31, 2025, the funds for shares have not been remitted.

~79~

Taiwan Mask Corporation and Subsidiaries

Information on investments in Mainland China From January 1 to March 31, 2025

Table 6

Unit: NT$ Thousand

(Unless otherwise specified)

Taiwan to China/Amount

Investee in Mainland China	Main business activities	Paid-upcapital	Investment method (Note 1)	Accumulated amount of remittance from Taiwan to China at the beginning of theperiod	Remitted to	Remitted back	Accumulated amount of remittance from Taiwan to China at the end ofperiod	Profit (loss) of the investee for the currentperiod	Ownership held by the Company (direct or indirect)	Investment income (loss) recognized by the Company for the current period(Note 2)	Ending carrying amount	Accumulated amount of investment income remitted back to Taiwan	Note
Miko-China Enterprise (Shanghai) Co., Ltd. Miracle International Enterprise(Shanghai) Co., Ltd. Sichuan Miracle Power Technology Co., Ltd.	Electronics components manufacturing, electronics materials and precision equipment distribution and power component design Electronics components manufacturing, electronics materials and precision equipment distribution and power component design IC product design, production and sales	3,283 $ 10,215 53,676	1 1 3	3,283 $ 10,215 -	- $ - -	- $ - -	3,283 $ 10,215 -	9,742 $ 8,405) ( 7,885) (	100% 100% 100%	9,742 $ 8,405) ~~(~~ 7,885) ~~(~~	472,017 $ 97,512 40,741	- $ - -	Note 2 (2) C Note 2(2)C, Note 4 Note 2 (2) C

Investment amount approved by the Investment Ceiling on investments Accumulated amount of remittance Commission of the in China imposed by the from Taiwan to China as of the end Ministry of Economic Investment Commission Name of Company of the period Affairs (MOEA) of MOEA Miracle Technology CO., $ 13,498 $ 13,498 $ 158,628 LTD.

Note 1: Investment methods are classified into the following three categories; fill in the number of categories each case belongs to:

(1) Directly invest in a company in Mainland China.
(2) Through investing in an existing company in the third area (please specify the company), which then invested in Mainland China.
(3). Others

Note 2: Investment income recognized by the Company for the current period

(1) If it is still under preparation with no actual gain or loss, it shall be indicated in the box.
(2) The basis for recognition of the investment gains or losses is divided into the following three,
A. Financial reports audited and certified by international accounting firms in cooperation with a CPA firm in the Republic of China
B. Financial statements audited and certified by the certified public accountant engaged by the parent company in Taiwan
C. Others.

Note 3: The relevant figures in this table should be presented in New Taiwan Dollars.

Note 4: It was originally invested through Misun Technology Co., Ltd. Since the aforementioned company has gone through dissolution and liquidation, it has been changed to Miracle Technology Co., Ltd. directly investing in Miracle International Enterprise (Shanghai) Co., Ltd.

~80~

AI assistant

TMC — Interim / Quarterly Report 2025

52014_rns_2025-12-24_8c815bee-5fc5-412e-82ca-0b043be8eb6e.pdf

Taiwan Mask Corporation and Subsidiaries

’ Q1 2025 and 2024 Consolidated Financial Statements and Independent Auditor s

Review Report

Table of Contents

Introduction

Scope

Basis for qualified opinion

Qualified opinion

Other matters

CPA

Taiwan Mask Corporation and Subsidiaries Consolidated Balance Sheets March 31, 2025 and December 31 and March 31, 2024

Taiwan Mask Corporation and Subsidiaries Consolidated Balance Sheets March 31, 2025 and December 31 and March 31, 2024

Taiwan Mask Corporation and Subsidiaries Consolidated Statement of Comprehensive Income January 1 to March 31, 2025 and 2024

Taiwan Mask Corporation and Subsidiaries Consolidated Statement of Changes in Equity January 1 to March 31, 2025 and 2024

Taiwan Mask Corporation and Subsidiaries Consolidated Statements of Cash Flows January 1 to March 31, 2025 and 2024

Taiwan Mask Corporation and Subsidiaries Consolidated Statements of Cash Flows January 1 to March 31, 2025 and 2024

Taiwan Mask Corporation and Subsidiaries Notes to the Consolidated Financial Statements

I. Company History

II. Date and procedures for passing the financial statement

(I) The impact from adopting the newly released and revised IFRS and IAS recognized and issued into effect by the Financial Supervisory Commission (FSC).

IV. Summary of Significant Accounting Policies

(I) Compliance statement

(II) Basis of Preparation

(III) Basis of consolidation

Aggregate financial information of subsidiaries: Balance Sheet

Aptos Technology and its subsidiaries

Statement of Comprehensive Income

Statements of Cash Flows

(IV) Employee benefits

Defined benefit plans

(V) Income tax

V. Critical Accounting Judgments and Key Sources of Estimation and Uncertainty

VI. Summary of Significant Accounting Items

(I) Cash and Cash Equivalents

(II) Financial assets and liabilities at fair value through profit or loss

(III) Financial assets measured at amortized cost

(IV) Notes and accounts receivable

2. Aging of accounts receivable notes receivable is as follows:

(V) Inventories

(VI) Investment under Equity Method

Shareholding percentage

TrueLight Corporation

TrueLight Corporation

(VII) Property, plant and equipment

(VIII) Leasing arrangements - lessee

(IX) Leasing arrangements - lessor

(XIII) Other Non-Current Assets

(XIV) Short Term Loans

(XV) Other Payables

(XVI) Corporate bonds payable

(XVII) Long-term Loans

(XVIII) Pensions

(XIX) Capital

(XX) Capital surplus

(XXI) Retained earnings

(XXII) Other equity interests

(XXIII) Operating income

(XXIV) Interest income

(XXV) Other Incomes

(XXVI) Other Gains and Losses

(XXVII) Financial Costs

(XXVIII) Expenses by nature

(XXIX) Employee benefits expenditure

(XXX) Income tax

1. Income tax expense

(XXXI) Earnings (loss) per share

(XXXII) Supplemental cash flow information

1. Investing activities with partial cash payments:

(XXXIII) Changes in liabilities arising from financing activities

VII. Related Party Transactions

(I) Related parties' names and relationship

(II) Significant transactions with the related parties

2. Account receivable from related parties.

3. Account payble from related parties

4. Acquisition of financial assets

(III) Compensation of key management personnel

VIII. Pledged assets

TMC Interim / Quarterly Report 2025