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TYNTEK — AGM Information 2026
May 26, 2026
52074_rns_2026-05-26_56e3b751-844a-424e-ba56-e6f71f923a44.pdf
AGM Information
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Stock Code: 2426
Tyntek
TYNTEK Corporation
2026 Annual General Shareholders’ Meeting Minutes (Translation)
Time: 9:00 a.m., May 22, 2026
Venue: No. 15, Kezhong Rd., Zhunan Township, Miaoli County
Attendants: All shareholders and their proxy holders, representing 196,982,843 shares (including 28,920,562 shares voted via electronic transmission), or 65.52 % of the total 300,622,252 outstanding shares.
Board Members Present:
(Chairman) Feng-Cheng Su, (Director) Will Chou, Jung-Huan Lee, (Independent Director) Sheng-Fa Yeh, Tsung-Yen Lin
(Five directors attended, exceeding half of the seven seats on the board.)
Attendees: Ming-Hui Chen CPA of Deloitte Taiwan, Guoxun Hong Attorney, Mei-Ling Chiu Vice President
Chairperson: Feng-Cheng Su Chairman
Minute Recorder: Hsiao-Ping Li
Report Items:
(I) 2025 Business Report. Please refer to Attachment 1. (Page 4~6)
(II) The Audit Committee’s Review Report on the 2025 financial statements. Please refer to Attachment 2. (Page 7)
(III) Report on the 2025 employee remuneration and director remuneration distribution proposal.
Description: According to Article 18 of the Company's Articles of Incorporation and a loss was made in 2025, and thus no employee remuneration and director remuneration will be distributed.
(IV) Report on 2025 cash dividend distribution.
Description: Report on 2025 cash dividend distribution, pursuant to the Articles of Incorporation, the Board of Directors was authorized by the Company to distribute earnings in cash after the end of the year. The Board of Directors resolved on March 4, 2026 to approve the 2025 cash dividend of NT$30,062,225, or NT$0.1 per share.
Ratifications Items:
(I) 2025 Business Report and financial statements.
Proposal 1 Proposed by the board of directors
Cause: The 2025 Business Report and financial statements are submitted for ratification.
Explanation:
I. The Company's 2025 Business Report and financial statements have been approved upon the resolution of the board of directors on March 4, 2026; the financial statements have been audited by Mei-Chen Tsai, CPA and Ming-hui Chen, CPA of Deloitte Taiwan. The aforesaid settlement books and statements have been submitted to and audited by the Audit Committee, with the Audit Report presented.
II. Please refer to Attachment 1 (page 4~6) and Attachments 3 (page 8~27) for the 2025 Business Report, Independent Auditors' Report and financial statements.
III. Please ratify.
Resolution: (Voting Results:)
Shares represented at the time of voting: 196,982,843 (Including e-voting: 28,920,562)
| Voting Results | % of the total represented share present |
|---|---|
| Votes in favor: 182,994,280 votes | |
| (Including electronic voting: 15,177,031 votes) | 92.89% |
| Votes against: 33,930 votes | |
| (Including electronic voting: 33,930 votes) | 0.01% |
| Votes invalid: 0 votes | 0.00% |
| Votes abstained: 13,954,633 votes | |
| (Including electronic voting: 13,709,601 votes) | 7.08% |
Resolution: The above proposal be and hereby was approved as proposed.
(II) 2025 earnings distribution
Proposal 2 Proposed by the board of directors
Cause: The proposal of 2025 earnings distribution is submitted for ratification.
Explanation:
I. The proposal has been approved upon the resolution of the board of directors on March 4, 2026, and was submitted to and audited by the Audit Committee for reference.
II. a loss was made in 2025, and thus no employee remuneration and director remuneration will be distributed.
III. For the 2025 earnings distribution table, please refer to Attachment 4 (page 28).
IV. Please ratify.
Shares represented at the time of voting: 196,982,843 (Including e-voting: 28,920,562)
| Voting Results | % of the total represented share present |
|---|---|
| Votes in favor: 183,150,769 votes | |
| (Including electronic voting: 15,333,520 votes) | 92.97% |
| Votes against: 53,551 votes | |
| (Including electronic voting: 53,551 votes) | 0.02% |
| Votes invalid: 0 votes | 0.00% |
| Votes abstained: 13,778,523 votes | |
| (Including electronic voting: 13,533,491 votes) | 6.99% |
Resolution: The above proposal be and hereby was approved as proposed by vote.
Discussion Items: None.
Extraordinary Motions: None.
Adjournment: Meeting ended at 9:21am
(No shareholders asked questions at this shareholders' meeting.)
The Company’s Shareholders’ Meeting record file will be available on the website: https://www.tyntek.com.tw/investor.php?cs=1&sn=25.
- 3 -
Three. Attachments
[Attachment 1]
TYNTEK Corporation Business Report
Looking back at 2025, the global economy exhibited a moderate growth trend as major central banks initiated an interest rate cutting cycle, and inflationary pressures have eased significantly. However, as the international situation becomes increasingly complex, geopolitical risks intensify, including the ongoing Russo-Ukrainian conflict, unresolved tensions in the Middle East, and continued technological competition and trade friction between the U.S. and China, accelerating the restructuring of the global supply chain. Due to fluctuations in international raw material prices and exchange rate movements, the Company's revenue for 2025 slightly declined compared with 2024. Nevertheless, through strengthened internal management efficiency, optimization of the product mix, and strict control of operating costs, the net operating loss continued to narrow. This reflects a steady improvement in operating performance compared with 2024 and fully demonstrates the management team's responsiveness and managerial resilience. The Company continues to deepen strategic cooperation with supply chain partners to enhance product value and actively expand a diversified market presence. Looking ahead, the Company will continue to invest in research and development innovation, strengthen its core competitiveness and profitability, and create long-term, stable value for shareholders. Business performance and operations of the Company in 2025 are compared with the ones in 2024 as described in the following respectively:
(I) 2025 Implementation results of the 2024 business plan
Unit: NTD thousand
| Item | 2024 | 2025 | Percentage | difference % |
|---|---|---|---|---|
| Net sales amount | 2,394,131 | 2,335,859 | (58,272) | -2.43 |
| Operating profit (loss) | (55,875) | (38,117) | 17,758 | -31.78 |
| Net non-operating income (expense) | 139,243 | (12,937) | (152,180) | -109.29 |
| Net profit (loss) before tax | 83,368 | (51,054) | (134,422) | -161.24 |
| Income tax expense | 18,214 | 25,182 | 6,968 | 38.26 |
| Net profit (loss) of the period | 65,154 | (76,236) | (141,390) | -217.01 |
| Basic earnings (loss) per share after tax (NT$) | 0.21 | (0.25) | -$0.46 | -219.05 |
Note: The impacts of earnings per share and issuance of stock dividends have been included in the retrospective adjustment.
(II) Financial Revenue/Expenditure and Profitability Analysis
Unit: NTD thousand
| item | 2024 | 2025 | |
|---|---|---|---|
| Financial structure (%) | Debt to total assets ratio | 22.18 | 18.66 |
| Long-term capital to property, plant & equipment ratio | 235.65 | 237.35 | |
| Debt servicing capability (%) | Current ratio | 331.66 | 331.26 |
| Quick ratio | 253.40 | 255.43 |
| Profitability (%) | Return on asset | 1.46 | -1.45 |
|---|---|---|---|
| Return on shareholders’ equity | 1.68 | -2.00 | |
| Net profit margin | 2.72 | -3.26 | |
| Earnings per share (EPS) (NT$) | 0.21 | (0.25) |
R&D status
The Company has consistently focused on product development and technological innovation, continuously introducing market-competitive solutions, and has received multiple government grants and industry recognitions. The application scope of optoelectronic components and advanced materials continues to expand, and the market demand shows a trend of diversified growth. In response to the restructuring of the global supply chain and the wave of technological autonomy, the Company actively invests in forward-looking technology R&D, focuses on high value-added product development, and strengthens strategic cooperation with international major manufacturers. The Company will continue to deepen the following core technology areas to consolidate its market advantage and meet diversified customer needs:
A. High density semiconductor passive components
B. 6” wafer and high-sensitivity sensing PD
C. 6” wafer and high precision and power components
D. High power AlGaInP light emitting diodes
E. High speed communication photodiodes
F. Multiband photo detectors
G. DUV sensors
H. Substrates with electrostatic protection components
I. Flip-chip Zener diodes
J. Photo diode integrated circuit (PDIC)
K. Low-capacitance transient voltage suppressors (TVS)
L. High speed optical communication laser diodes
M. Vertical cavity surface emitting laser (VCSEL) diodes
N. GaN power device
O. Long wavelength sensing components
P. Infrared diodes for high-speed industrial control
Q. Point light source infrared diode
R. Flip Photo Diode
S. PVG components
T. Photo TRIAC components
Strategy
To achieve the operating objectives for 2026, the Company will continue to strengthen its core capabilities in marketing, research and development, manufacturing, and management, focusing on the following key strategic priorities:
- Optimizing the product mix: Focus on the development of high value-added products to enhance overall profitability and market competitiveness.
- Strengthening supply chain resilience: Actively develop diversified sources of materials to mitigate supply risks, ensure stable supply, and enhance bargaining power.
- Enhancing operational efficiency: Continuously improve production processes to increase yield rates and capacity utilization while simultaneously reducing manufacturing costs.
- Deepening global market presence: In response to changing international market demands, actively expand into strategic markets such as Europe, the Americas, and Japan, aiming to increase the proportion of overseas revenue.
- Driving sustainable transformation: Accelerate digitalization and smart manufacturing upgrades to enhance operational efficiency; at the same time, deepen ESG practices, optimize energy and resource utilization, implement low-carbon production, and achieve a win-win outcome of economic growth and environmental sustainability.
The Company will flexibly adjust its business strategy and sales targets according to market dynamics, industry trends, and its own production capacity status. We firmly believe that a comprehensive product line and technological capabilities are the core cornerstone of sustainable operation. The Company will continue to devote resources to new product R&D, strengthen quality management, enhance customer relationships, and maintain long-term cooperation with supply chain partners to secure its long-term development and bring maximum value to shareholders, customers, and employees.
Future Outlook
The Company builds on its foundation in the Asian market and continues to expand into European and American markets to increase its global market share. In the fields of medical and wearable devices, demand for sensing components is expected to continue its growth trend. The Company will continue to focus on the North American and Northeast Asian markets, accelerating business expansion and deepening customer collaboration. In the area of automotive protection components, in response to the trends of electric vehicles and automotive electrification, the Company will expand its application scope, deepen its presence in the European and Southeast Asian markets, and further increase market penetration. In the industrial control market, optical transmitters and high-voltage receivers are going to maintain robust growth momentum, continuing to provide growing contributions to revenue. Furthermore, as demand for optical communication applications grows rapidly, the Company will make every effort to increase its market share in this field and strengthen its technological leadership and market competitiveness.
TYNTEK Corporation
Chairman: Su, Feng-Cheng
Manager: Lee, Jung-Huan
Accounting Supervisor: Li, Hsiao-Ping
[Attachment 2]
TYNTEK Corporation
Audit Committee’s Review Report
We have reviewed the Company's 2025 business report, consolidated financial statements, parent-company only financial statements, and earning distribution proposal prepared by the board of directors. The consolidated financial statements, parent-company only financial statements have been audited and attested by Mei-Chen Tsai, CPA and Ming-hui Chen, CPA of Deloitte Taiwan, with the independent auditor's report issued. The aforementioned business report, consolidated financial statements, parent-company only financial statements, and earning distribution proposal have been reviewed and considered to be complied with relevant rules by the undersigned, the Audit Committee of TYNTEK Corporation. Pursuant to Article 14-4 of the Securities and Exchange Act and Article 219 of the Company Act, we hereby submit this report.
Submitted to
2026 Regular Shareholders’ Meeting
TYNTEK Corporation
Audit Committee
Convener: Yeh, Sheng-Fa
March 4, 2026
Independent Auditors' Report
[Attachment 3]
To TYNTEK Corporation,
Audit opinion
We have audited the accompanying consolidated balance sheets of TYNTEK Corporation (the "Company") and its subsidiaries (collectively, the "Group") as of December 31, 2025 and 2024 and for the years then ended, and the related consolidated statements of comprehensive income, changes in equity, and cash flows for the years then ended, and the related notes, including a summary of significant accounting policies (collectively, the "consolidated financial statements").
In our opinion, based on our audits (please refer to the "Other Matters" section), the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as of December 31, 2025 and 2024 and for the years then ended, and its consolidated financial performance and its consolidated cash flows for the years then ended in conformity with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), IFRIC Interpretations (IFRIC), and SIC Interpretations (SIC) endorsed and issued into effect by the Financial Supervisory Commission (FSC) of the Republic of China.
Basis for audit opinion
We conducted our audits in accordance with the Regulations Governing the Auditing and Attestation of Financial Statements by Certified Public Accountants and auditing standards in the Republic of China. Our responsibility under those standards is further described in the section of "Auditor's Responsibilities for the Audit of the Consolidated Financial Statements". We are independent of the Group in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We are convinced that we have acquired enough and appropriate audit evidence to serve as the basis of audit opinion.
9
Key audit matters
Key audit matters refer to the most vital matters in our audit of the consolidated financial statements of the Group for the year ended December 31, 2025, based on our professional judgment. These matters were addressed in our audit of the consolidated financial statements as a whole, and in forming our audit opinion. We do not express a separate opinion on these matters.
Key audit matters of the consolidated financial statements of the Group for the year ended December 31, 2025, are stated as follows:
Authenticity of sales revenue
The Group’s 2025 consolidated operating income was NT$2,335,859 thousand. Please refer to Notes 4 and 25 to the consolidated financial statements for the accounting policy and information related to revenue recognition. The operating revenue of the Company and its subsidiaries primarily arises from the sale of optoelectronic products. As the growth rate of sales revenue for Si products to specific customers is significantly higher than the average growth rate of overall Si products and the amounts involved are material, the authenticity of such sales revenue has been identified as a key audit matter for the current year.
The main audit procedures we performed for said matter are as follows:
- Understand and test the effectiveness of the design and the implementation of the main internal control mechanism for the sales.
- Select a sample of customer orders and payment receipts related to sales revenue to verify that the sales actually occurred, and check for any discrepancies between the customers to whom sales were made and the customers from whom payments were received.
Other Matters
The Company has also prepared the parent company only financial statements for the years ended December 31, 2025 and 2024, for which we have issued an unqualified opinion.
Responsibilities of the management and the governing body for the consolidated financial statements
The responsibilities of the management are to prepare the consolidated financial statements with fair presentation in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and IFRS and IAS, as well as IFRIC and SIC interpretations endorsed and entered into effect by the FSC, and to maintain necessary internal control associated with the preparation in order to ensure that the financial statements are free from material misstatement arising from fraud or error.
In preparing the consolidated financial statements, the management is responsible for assessing the ability of the Group in continuing as a going concern, disclosing relevant matters,
and adopting the going concern basis of accounting unless the management intends to liquidate the Group or cease the operations without other viable alternatives.
The governing body of the Group (including the Audit Committee) is responsible for supervising the financial reporting process.
Auditor's responsibilities for the audit of the consolidated financial statements
Our objectives are to obtain reasonable assurance on whether the consolidated financial statements as a whole are free from material misstatement arising from fraud or error, and to issue an independent auditors' report. Reasonable assurance is a high-level assurance but is not a guarantee that an audit conducted in accordance with the auditing standards in the Republic of China will always detect a material misstatement when it exists. Misstatement may arise from frauds or errors. If the amounts of misstatements, either separately or in aggregate, could reasonably be expected to influence the economic decisions of the users of the consolidated financial statements, they are considered material.
We have utilized our professional judgment and maintained professional doubt when performing the audit work in accordance with the auditing standards in the Republic of China. We also perform the following tasks:
- Identify and assess the risks of material misstatement arising from fraud or error within the consolidated financial statements; design and execute countermeasures in response to said risks, and obtain sufficient and appropriate audit evidence to provide a basis of our opinion. Fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Therefore, the risk of not detecting a material misstatement resulting from fraud is higher than the one resulting from error.
- Understand the internal control related to the audit in order to design appropriate audit procedures under the circumstances, while not for the purpose of expressing an opinion on the effectiveness of the Group's internal control.
- Evaluate the appropriateness of accounting policies adopted and the reasonableness of accounting estimates and relevant disclosures made by the management.
- Conclude on the appropriateness of the management's adoption of the going concern basis of accounting based on the audit evidence obtained and whether a material uncertainty exists for events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we are of the opinion that a material uncertainty exists, we shall remind users of the consolidated financial statements to pay attention to relevant disclosures in said statements within our audit report. If such disclosures are inadequate, we need to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our
10
auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
-
Evaluate the overall presentation, structure, and content of the consolidated financial statements (including relevant notes), and whether the consolidated financial statements adequately present the relevant transactions and events.
-
Obtain sufficient and appropriate audit evidence concerning the financial information of entities within the Group, to express an opinion on the consolidated financial statements. We are responsible for guiding, supervising, and performing the audit and forming an audit opinion on the Group.
The matters communicated between us and the governing body include the planned scope and times of the audit and significant audit findings (including any significant deficiencies in internal control identified during the audit).
We also provided the governing body with a declaration that we have complied with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China regarding independence, and communicated with them all relationships and other matters that may possibly be regarded as detrimental to our independence (including relevant protective measures).
From the matters communicated with the governing body, we determined the key audit matters for the audit of the Group's consolidated financial statements for the year ended December 31, 2025. We have clearly indicated such matters in the auditors' report unless legal regulations prohibit the public disclosure of specific matters, or in extremely rare cases, we decided not to communicate over specific items in the auditors' report, for it could be reasonably anticipated that the negative effects of such disclosure would be greater than the public interest it brings forth.
Deloitte Taiwan
CPA Tsai, Mei-Chen
CPA Chen, Ming-Hui
The Financial Supervisory Commission R.O.C. Approved No.
Jing-Guang-Zheng-Shen-Zi No. 1010028123
Securities and Futures Commission Approval Document No.
Tai-Cai-Zeng-VI No. 0930128050
March 6, 2026
TYNTEK Corporation and Subsidiaries
Consolidated Balance Sheet
For the Years Ended December 31, 2025 and 2024
Unit: NTD thousand
| Code | Asset | December 31, 2025 | December 31, 2024 | ||
|---|---|---|---|---|---|
| Amount | % | Amount | % | ||
| Current assets | |||||
| 1100 | Cash and cash equivalents (Notes 6 and 32) | $ 428,518 | 9 | $ 1,096,429 | 22 |
| 1110 | Financial assets at FVTPL - Current (Notes 7 and 32) | 10,241 | - | 12,302 | - |
| 1136 | Financial assets at amortized cost - current (Note 9, 32 and 34) | 801,142 | 17 | 196,330 | 4 |
| 1150 | Notes receivable, net (Notes 10 and 32) | 352 | - | 363 | - |
| 1170 | Net accounts receivable (Notes 10, 25 and 32) | 673,540 | 15 | 735,224 | 15 |
| 1180 | Accounts receivable - related parties, net (Notes 10, 25, 32 and 33) | 70,189 | 2 | 48,522 | 1 |
| 1200 | Other receivables (Notes 10 and 32) | 10,387 | - | 15,748 | - |
| 1220 | Current tax assets (Note 27) | 1,683 | - | - | - |
| 130X | Inventories (Note 11) | 565,748 | 12 | 634,527 | 13 |
| 1410 | Prepayments (Notes 17 and 35) | 27,480 | 1 | 15,824 | 1 |
| 1479 | Other current assets - others (Note 18) | 2,176 | - | 878 | - |
| 11XX | Total current assets | 2,591,456 | 56 | 2,756,147 | 56 |
| non-current assets | |||||
| 1517 | Financial assets at FVTOCI | ||||
| -non-current (Note 8 and 32) | 54,861 | 1 | 70,213 | 2 | |
| 1550 | Investments accounted for using equity method (Note 13) | 240,355 | 5 | 235,060 | 5 |
| 1600 | Property, plant and equipment (Notes 14, 34 and 35) | 1,622,957 | 35 | 1,751,993 | 35 |
| 1755 | Right-of-use assets (Note 15) | 66,498 | 2 | 64,007 | 1 |
| 1780 | Other intangible assets (Note 16) | 14,370 | - | 13,272 | - |
| 1840 | Deferred tax assets (Note 27) | 25,123 | 1 | 45,037 | 1 |
| 1915 | Pre-payments for equipment (Note 35) | 9,166 | - | 18,557 | - |
| 1920 | Refundable deposits (Note 32) | 311 | - | 311 | - |
| 1975 | Defined benefit asset- non-current (Note 23) | 4,139 | - | - | - |
| 1990 | Other non-current assets - others (Note 18) | 5,088 | - | 4,923 | - |
| 15XX | Total non-current assets | 2,042,868 | 44 | 2,203,373 | 44 |
| 1XXX | Total assets | $ 4,634,324 | 100 | $ 4,959,520 | 100 |
| Code | LIABILITIES AND EQUITY | December 31, 2025 | December 31, 2024 | ||
| --- | --- | --- | --- | --- | --- |
| Amount | % | Amount | % | ||
| Current liabilities | |||||
| 2100 | Short-term borrowings (Notes 19, 32, and 34) | $ 46,164 | 1 | $ 46,609 | 1 |
| 2120 | Financial liability at FVTPL - Current (Notes 7 and 32) | 14,451 | 1 | 8,971 | - |
| 2170 | Accounts payable (Notes 20 and 32) | 289,783 | 6 | 344,617 | 7 |
| 2180 | Accounts payable - related parties (Notes 20, 32, and 33) | 10,418 | - | 9,688 | - |
| 2200 | Other payables (Notes 21 and 32) | 240,623 | 5 | 216,993 | 5 |
| 2230 | Current tax liabilities (Note 27) | - | - | 8,427 | - |
| 2280 | Lease liabilities - current (Notes 15 and 32) | 3,824 | - | 2,934 | - |
| 2320 | Current portion of long-term borrowings (Notes 19, 32, and 34) | 162,232 | 4 | 172,615 | 4 |
| 2313 | Deferred revenue (Notes 21, 29, and 32) | 5,395 | - | 7,492 | - |
| 2399 | Other current liabilities (Note 21) | 9,408 | - | 12,672 | - |
| 21XX | Total current liabilities | 782,298 | 17 | 831,018 | 17 |
| Non-current liabilities | |||||
| 2540 | Long-term borrowings (Notes 19, 32, and 34) | 11,585 | - | 173,309 | 4 |
| 2550 | Provisions - non-current (Note 22) | 3,301 | - | 20,465 | - |
| 2570 | Deferred tax liabilities (Note 27) | 4,400 | - | 6,857 | - |
| 2580 | Lease liabilities - non-current (Notes 15 and 32) | 62,977 | 2 | 60,872 | 1 |
| 2630 | Long-term deferred income (Notes 19, 29, and 32) | - | - | 176 | - |
| 2640 | Defined benefit liability - non-current (Note 23) | - | - | 7,078 | - |
| 2645 | Guarantee deposits received (Note 32) | 46 | - | 251 | - |
| 25XX | Total non-current liabilities | 82,309 | 2 | 269,008 | 5 |
| 2XXX | Total liabilities | 864,607 | 19 | 1,100,026 | 22 |
| Equity (Note 24) | |||||
| 3110 | Ordinary shares | 3,006,223 | 65 | 3,006,223 | 61 |
| 3200 | Capital reserve | 266,729 | 6 | 245,685 | 5 |
| Retained earnings | |||||
| 3310 | Statutory reserves | 292,746 | 6 | 286,048 | 6 |
| 3320 | Special reserves | 37,523 | 1 | 37,523 | 1 |
| 3350 | undistributed earnings | 201,981 | 4 | 307,481 | 6 |
| 3300 | Total retained earnings | 532,250 | 11 | 631,052 | 13 |
| 3400 | Other equities | ( 35,485 ) | ( 1 ) | ( 23,466 ) | ( 1 ) |
| 3XXX | Total equity | 3,769,717 | 81 | 3,859,494 | 78 |
| Total liabilities and equity | $ 4,634,324 | 100 | $ 4,959,520 | 100 |
The accompanying notes are an integral part of the consolidated financial statements
Chairman: Su,Feng-Cheng
Manager: Lee, Jung-Huan
Accounting Supervisor: Li, Hsiao-Ping
TYNTEK Corporation and Subsidiaries
Consolidated Statement of Comprehensive Income
For the Years Ended December 31, 2025 and 2024
Unit: NTD thousands; EPS (loss) in NTD
| Code | 2025 | 2024 | |||
|---|---|---|---|---|---|
| Amount | % | Amount | % | ||
| 4000 | Operating revenues (Notes 25 and 33) | $ 2,335,859 | 100 | $ 2,394,131 | 100 |
| 5000 | Operating cost (Notes 11, 26, and 33) | 2,046,751 | 88 | 2,075,712 | 87 |
| 5900 | Gross income from operations | 289,108 | 12 | 318,419 | 13 |
| Operating expenses (Notes 23, 26, and 33) | |||||
| 6100 | Selling and marketing expenses | 38,983 | 2 | 38,162 | 2 |
| 6200 | Administrative expenses | 167,382 | 7 | 211,128 | 9 |
| 6300 | Research and development expenses | 121,235 | 5 | 124,996 | 5 |
| 6450 | Expected credit impairment reversal gains | ( 375 ) | - | - | - |
| 6000 | Total operating expenses | 327,225 | 14 | 374,286 | 16 |
| 6500 | Other income and expenses, net (Note 26) | - | - | ( 8 ) | - |
| 6900 | Net operating loss | ( 38,117 ) | ( 2 ) | ( 55,875 ) | ( 3 ) |
| Non-operating income and expense | |||||
| 7100 | Interest income (Notes 26 and 33) | 15,590 | 1 | 14,350 | 1 |
| 7010 | Other income (Note 26) | 8,597 | - | 11,139 | - |
| 7020 | Other gains or losses (Notes 26 and 36) | ( 13,318 ) | - | 128,471 | 5 |
| 7050 | Financial costs (Note 26) | ( 8,059 ) | - | ( 10,382 ) | - |
| 7060 | Share of profit (loss) on associates using the equity method | ( 15,747 ) | ( 1 ) | ( 4,335 ) | - |
| 7000 | Total non-operating income and expenses | ( 12,937 ) | - | 139,243 | 6 |
| 7900 | Net income (loss) before tax | ( 51,054 ) | ( 2 ) | 83,368 | 3 |
| 7950 | Income tax expenses (Notes 4 and 27) | ( 25,182 ) | ( 1 ) | ( 18,214 ) | ( 1 ) |
| 8200 | Net income (loss) for this year | ( 76,236 ) | ( 3 ) | 65,154 | 2 |
Chairman: Su,Feng-Cheng
Manager: Lee, Jung-Huan
Accounting Supervisor: Li, Hsiao-Ping
| | Other comprehensive income
(Note 24) | | | | |
| --- | --- | --- | --- | --- | --- |
| 8310 | Items that will not be reclassified subsequently to profit or loss: | | | | |
| 8311 | Remeasurement of defined benefit plans | $ 7,496 | - | $ 4,090 | - |
| 8316 | Unrealized gains (losses) on investments in equity instruments at FVTOCI | ( 15,354 ) | - | 8,743 | 1 |
| 8349 | Income tax benefit (expense) relating to items that will not be reclassified subsequently to profit or loss (Note 27) | 2,171 | - | ( 1,663 ) | - |
| 8360 | Items that may be reclassified subsequently to profit or loss: | | | | |
| 8361 | Exchange Differences in Translating the Financial Statements of Foreign Operations | 1,454 | - | 8,361 | - |
| 8399 | Income tax expense related to the components of other comprehensive income (Note 27) | ( 290 ) | - | ( 1,672 ) | - |
| 8300 | Other comprehensive income of the current year (net amount after tax) | ( 4,523 ) | - | 17,859 | 1 |
| 8500 | Total comprehensive income of the current year | ($ 80,759) | ( 3 ) | $ 83,013 | 3 |
| 8600 | Net income (loss) attributable to: | | | | |
| 8610 | Owners of the company | ($ 76,236) | ( 3 ) | $ 62,889 | 3 |
| 8620 | Non-controlling interests | - | - | 2,265 | - |
| | | ($ 76,236) | ( 3 ) | $ 65,154 | 3 |
| 8700 | Total comprehensive income attributable to: | | | | |
| 8710 | Owners of the company | ($ 80,759) | ( 3 ) | $ 80,748 | 3 |
| 8720 | Non-controlling interests | - | - | 2,265 | - |
| | | ($ 80,759) | ( 3 ) | $ 83,013 | 3 |
| | Earnings (loss) per share (Note 28) | | | | |
| 9710 | Basic | ($ 0.25 ) | | $ 0.21 | |
| 9810 | Diluted | ($ 0.25 ) | | $ 0.21 | |
The accompanying notes are an integral part of the consolidated financial statements
14
TYNTEK Corporation and Subsidiaries
Consolidated Statement of Changes Equity
For the Years Ended December 31, 2025 and 2024
Unit: In Thousands of New Taiwan Dollars, Unless Stated Otherwise
| Code | Share capital | Capital reserve | Retained earnings | Other equities | Total | Non-controlling interests | Total equity | |
|---|---|---|---|---|---|---|---|---|
| Shares (Thousands) | Amount | Statutory reserves | Special reserves | undistributed earnings | Exchange Differences in Translating the Financial Statements of Foreign Operations | Unrealized Gain (Loss) on Financial Assets at Fair Value Through Other Comprehensive Income | ||
| A1 | Balance on January 1, 2024 | 300,621 | $ 3,006,223 | $ 245,261 | $ 286,048 | $ 46,381 | $ 291,768 | ($ 23,397) |
| B17 | Earning appropriation and distribution for 2023 | |||||||
| Reversed special reserve | - | - | - | - | ( 8,858 ) | 8,858 | - | - |
| Cash dividends to shareholders of the Company | - | - | - | - | - | ( 60,124 ) | - | - |
| D1 | 2024 net income | - | - | - | - | - | 62,889 | - |
| D3 | 2024 other comprehensive income after tax | - | - | - | - | - | 4,090 | 6,689 |
| D5 | 2024 total comprehensive income | - | - | - | - | - | 66,979 | 6,689 |
| C7 | Changes in associates and joint ventures accounted for using the equity method | - | - | ( 122 ) | - | - | - | - |
| M3 | Disposal of investments accounted for using equity method | - | - | - | - | - | - | - |
| M7 | Changes in ownership interest of subsidiary | - | - | 546 | - | - | - | - |
| Z1 | Balance at December 31, 2024 | 300,621 | 3,006,223 | 245,685 | 286,048 | 37,523 | 307,481 | ( 16,708 ) |
| B1 | Earning appropriation and distribution for 2024 | |||||||
| Appropriated as statutory reserves | - | - | - | 6,698 | - | ( 6,698 ) | - | - |
| Cash dividends to shareholders of the Company | - | - | - | - | - | ( 30,062 ) | - | - |
| D1 | Net loss of 2025 | - | - | - | - | - | ( 76,236 ) | - |
| D3 | 2025 other comprehensive income after tax | - | - | - | - | - | 7,496 | 1,164 |
| D5 | 2025 total comprehensive income | - | - | - | - | - | ( 68,740 ) | 1,164 |
| C7 | Changes in associates and joint ventures accounted for using the equity method | - | - | 21,044 | - | - | - | - |
| Z1 | Balance on December 31, 2025 | 300,621 | $ 3,006,223 | $ 266,729 | $ 292,746 | $ 37,523 | $ 201,981 | ($ 15,544 ) |
The accompanying notes are an integral part of the consolidated financial statements
Chairman: Su,Feng-Cheng
Manager: Lee, Jung-Huan
Accounting Supervisor: Li, Hsiao-Ping
TYNTEK Corporation and Subsidiaries
Consolidated Statement of Cash Flow
For the Years Ended December 31, 2025 and 2024
Unit: NTD thousand
| Code | 2025 | 2024 | |
|---|---|---|---|
| Cash flows from operating activities | |||
| A10000 | Net income (loss) before tax for this year | ($ 51,054) | $ 83,368 |
| A20010 | Adjustments for: | ||
| A20100 | Depreciation expenses | 277,406 | 287,225 |
| A20200 | Amortization expenses | 5,372 | 3,513 |
| A20300 | Expected credit impairment reversal gains | ( 375) | - |
| A20400 | Net loss (gain) on financial assets and liabilities at FVTPL | 4,509 | ( 83,958) |
| A20900 | Financial costs | 8,059 | 10,382 |
| A21200 | Interest income | ( 15,590) | ( 14,350) |
| A21300 | Dividend revenue | ( 2,234) | ( 1,840) |
| A22300 | Share of profit or loss of associates accounted for using equity method | 15,747 | 4,335 |
| A22500 | Losses on disposal of property, plant and equipment | - | 8 |
| A23800 | Loss on inventory valuation falling and obsolescence (gain on recovery) | ( 32,967) | 4,687 |
| A24100 | Unrealized gains on foreign currency exchange | ( 11,385) | ( 34,283) |
| A29900 | Loss from disposal of subsidiary | - | 97 |
| A30000 | Changes in operating assets and liabilities | ||
| A31130 | Note receivable | 11 | 5,905 |
| A31150 | Accounts receivable - related parties | 55,843 | ( 117,916) |
| A31180 | Other receivables | 5,371 | 3,409 |
| A31200 | Inventories | 101,746 | ( 16,850) |
| A31230 | Pre-payments | ( 11,821) | ( 5,967) |
| A31240 | Other current assets | ( 1,298) | ( 164) |
| A32125 | contract liability | - | ( 460) |
| A32130 | Note payable | - | 8,889 |
| A32150 | Accounts payable - related parties | ( 57,393) | 1,232 |
| A32180 | Other payables | 25,073 | 41,050 |
| A32200 | Provisions | ( 17,164) | 571 |
| A32230 | Other current liabilities | ( 3,264) | 1,829 |
| A32240 | Net defined benefit liability | ( 3,721) | ( 3,895) |
| A33000 | Cash from operations | 290,871 | 176,817 |
| A33300 | Interest paid | ( 8,051) | ( 10,366) |
| A33500 | Income tax paid | ( 15,954) | ( 3,207) |
| AAAA | Net cash inflow from operating activities | 266,866 | 163,244 |
| Cash flows from investing activities |
16
| B00040 | Acquisition of financial assets at amortized cost | ($ 1,128,142) | ($ 196,330) |
|---|---|---|---|
| B00050 | Disposal of financial assets at amortized cost | 523,330 | 45,939 |
| B00100 | Purchase of financial assets at fair value through profit or loss | ( 1,285,976) | ( 714,403) |
| B00200 | Disposal of financial assets at FVTPL | 1,288,121 | 1,029,247 |
| B02300 | Net cash outflow from disposal of subsidiary | - | ( 22,808) |
| B02700 | Acquisition of property, plant and equipment | ( 147,824) | ( 189,871) |
| B03700 | Decrease in refundable deposits | - | 12 |
| B04500 | Acquisition of intangible assets | ( 4,289) | ( 4,350) |
| B07100 | Decrease (increase) in pre-payments for equipment | 9,391 | ( 1,253) |
| B07500 | Interest received | 15,580 | 14,796 |
| B07600 | Dividends received | 2,234 | 4,693 |
| BBBB | Net cash outflows from investing activities | ( 727,575) | ( 34,328) |
| Cash flows from financing activities | |||
| C00100 | Increase in short-term borrowings | 234,347 | 126,788 |
| C00200 | Decrease in short-term borrowings | ( 237,360) | ( 103,997) |
| C01700 | Repayments of long-term borrowings | ( 174,380) | ( 179,636) |
| C03100 | Decrease in guarantee deposits received | ( 205) | ( 82) |
| C04020 | Repayment of the principal portion of leases | ( 3,561) | ( 4,419) |
| C04500 | Cash dividends distributed | ( 30,062) | ( 60,124) |
| CCCC | Net cash outflows from financing activities | ( 211,221) | ( 221,470) |
| DDDD | Effects of exchange rate changes on the balance of cash held in foreign currencies | 4,019 | ( 866) |
| EEEE | Decrease in cash and cash equivalents | ( 667,911) | ( 93,420) |
| E00100 | Balance of cash and cash equivalents at the beginning of the year | 1,096,429 | 1,189,849 |
| E00200 | Balance of cash and cash equivalents at the end of the year | $ 428,518 | $ 1,096,429 |
The accompanying notes are an integral part of the consolidated financial statements
Chairman: Su,Feng-Cheng Manager: Lee, Jung-Huan Accounting Supervisor: Li, Hsiao-Ping
Independent Auditors' Report
To TYNTEK Corporation,
Audit opinion
We have audited the accompanying parent company only balance sheets of TYNTEK Corporation (the “Company”) as of December 31, 2025 and 2024 and for the years then ended, and the related parent company only statements of comprehensive income, changes in equity, and cash flows for the years then ended, and the related notes, including a summary of significant accounting policies (collectively, the “consolidated financial statements”).
In our opinion, based on our audits, the accompanying parent company only financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and its parent company only cash flows for the years then ended, and are in conformity with the Regulations Governing the Preparation of Financial Reports by Securities Issuers.
Basis for audit opinion
We conducted our audits in accordance with the Regulations Governing the Auditing and Attestation of Financial Statements by Certified Public Accountants and auditing standards in the Republic of China. Our responsibility under those standards is further described in the section of “Auditor’s Responsibilities for the Audit of the Parent-only Financial Statements”. We are independent of the Company in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We are convinced that we have acquired enough and appropriate audit evidence to serve as the basis of audit opinion.
Key audit matters
Key audit matters refer to the most vital matters in our audit of the parent company only financial statements of the Company for the year ended December 31, 2025 based on our professional judgment. These matters were addressed in our audit of the parent-only financial
18
statements as a whole, and in forming our audit opinion. We do not express a separate opinion on these matters.
Key audit matters of the parent company only financial statements of the Company for the year ended December 31, 2025 are stated as follows:
Authenticity of sales revenue
The Company’s 2025 consolidated operating income was NT$2,328,727 thousand. Please refer to Notes 4 and 25 to the consolidated financial statements for the accounting policy and information related to revenue recognition. The operating revenue of the Company primarily arises from the sale of optoelectronic products. As the growth rate of sales revenue for Si products to specific customers is significantly higher than the average growth rate of overall Si products and the amounts involved are material, the authenticity of such sales revenue has been identified as a key audit matter for the current year.
The main audit procedures we performed for said matter are as follows:
- Understand and test the effectiveness of the design and the implementation of the main internal control mechanism for the sales.
- Select a sample of customer orders and payment receipts related to sales revenue to verify that the sales actually occurred, and check for any discrepancies between the customers to whom sales were made and the customers from whom payments were received.
Responsibilities of the management and the governing body for the parent company only financial statements
The responsibilities of the management are to prepare the parent-only financial statements with fair presentation in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, and to maintain necessary internal control associated with the preparation in order to ensure that the financial statements are free from material misstatement arising from fraud or error.
In preparing the parent company only financial statements, the management is responsible for assessing the ability of the Company in continuing as a going concern, disclosing relevant matters, and adopting the going concern basis of accounting unless the management intends to liquidate the Company or cease the operations without other viable alternatives.
The governing body of the Company (including the Audit Committee) is responsible for supervising the financial reporting process.
Auditor’s responsibilities for the audit of the parent company’s only financial statements
Our objectives are to obtain reasonable assurance on whether the parent-only financial statements as a whole are free from material misstatement arising from fraud or error, and to issue
19
an independent auditors' report. Reasonable assurance is a high-level assurance but is not a guarantee that an audit conducted in accordance with the auditing standards in the Republic of China will always detect a material misstatement when it exists. Misstatement may arise from frauds or errors. If the amounts of misstatements, either separately or in aggregate, could reasonably be expected to influence the economic decisions of the users of the parent-only financial statements, they are considered material.
We have utilized our professional judgment and maintained professional doubt when performing the audit work in accordance with the auditing standards in the Republic of China. We also perform the following tasks:
- Identify and assess the risks of material misstatement arising from fraud or error within the parent-only financial statements; design and execute countermeasures in response to said risks, and obtain sufficient and appropriate audit evidence to provide a basis of our opinion. Fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Therefore, the risk of not detecting a material misstatement resulting from fraud is higher than the one resulting from error.
- Understand the internal control related to the audit in order to design appropriate audit procedures under the circumstances, while not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.
- Evaluate the appropriateness of accounting policies adopted and the reasonableness of accounting estimates and relevant disclosures made by the management.
- Conclude on the appropriateness of the management's adoption of the going concern basis of accounting based on the audit evidence obtained and whether a material uncertainty exists for events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we are of the opinion that a material uncertainty exists, we shall remind users of the parent-only financial statements to pay attention to relevant disclosures in said statements within our audit report. If such disclosures are inadequate, we need to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- Evaluate the overall presentation, structure, and content of the parent-only financial statements (including relevant notes), and whether the parent-only financial statements adequately present the relevant transactions and events.
- Obtain sufficient and appropriate audit evidence concerning the financial information of entities within the Company, to express an opinion on the parent company's only financial
20
statements. We are responsible for guiding, supervising, and performing the audit and forming an audit opinion on the Company.
The matters communicated between us and the governing body include the planned scope and times of the audit and significant audit findings (including any significant deficiencies in internal control identified during the audit).
We also provided the governing body with a declaration that we have complied with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China regarding independence, and communicated with them all relationships and other matters that may possibly be regarded as detrimental to our independence (including relevant protective measures).
From the matters communicated with the governing body, we determined the key audit matters for the audit of the Company’s parent company only financial statements for the year ended December 31, 2025. We have clearly indicated such matters in the auditors’ report unless legal regulations prohibit the public disclosure of specific matters, or in extremely rare cases, we decided not to communicate over specific items in the auditors’ report, for it could be reasonably anticipated that the negative effects of such disclosure would be greater than the public interest it brings forth.
Deloitte Taiwan
CPA Tsai, Mei-Chen
CPA Chen, Ming-Hui
The Financial Supervisory Commission R.O.C. Approved No.
Jing-Guang-Zheng-Shen-Zi No. 1010028123
Securities and Futures Commission Approval Document No.
Tai-Cai-Zeng-VI No. 0930128050
March 6, 2026
TYNTEK Corporation
Parent-only Balance Sheet
For the Years Ended December 31, 2025 and 2024
Unit: NTD thousand
| Code | Asset | December 31, 2025 | December 31, 2024 | Code | LIABILITIES AND EQUITY | December 31, 2025 | December 31, 2024 | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Amount | % | Amount | % | Amount | % | Amount | % | ||||
| Current assets | |||||||||||
| 1100 | Cash and cash equivalents (Notes 6 and 30) | $ 225,113 | 5 | $ 911,403 | 19 | 2100 | Current liabilities | ||||
| 1110 | Financial assets at FVTPL | 2120 | Financial liability at FVTPL | ||||||||
| 1110 | - current (Notes 7 and 30) | 48 | - | 15 | - | - current (Notes 7 and 30) | 14,451 | - | 8,971 | - | |
| 1136 | Financial assets at amortized cost - current (Notes 9, 30, and 32) | 661,142 | 14 | 6,330 | - | 2170 | Accounts payable (Notes 18 and 30) | 287,422 | 6 | 343,710 | 7 |
| 1150 | Notes receivable, net (Notes 10 and 30) | 352 | - | 363 | - | 2180 | Accounts payable to related parties (Notes 18, 30, and 31) | 10,418 | - | 9,688 | - |
| 1170 | Net accounts receivable (Notes 10, 23, and 30) | 672,812 | 14 | 735,157 | 15 | 2200 | Other payables (Notes 19, 30, and 31) | 279,162 | 6 | 230,023 | 5 |
| 1180 | Accounts receivable - related parties, net (Notes 10, 23, 30 and 31) | 70,189 | 2 | 48,553 | 1 | 2280 | Lease liabilities - current (Notes 14 and 30) | 3,824 | - | 2,934 | - |
| 1200 | Other receivables (Notes 10 and 30) | 10,386 | - | 15,663 | - | 2320 | Current portion of long-term borrowings (Notes 17, 30 and 32) | 162,232 | 4 | 172,615 | 4 |
| 1220 | Current tax assets (Note 25) | 2,393 | - | 2,190 | - | 2313 | Unearned revenue (Notes 19, 27, and 30) | 5,395 | - | 7,492 | - |
| 130X | Inventories (Note 11) | 560,848 | 12 | 625,875 | 13 | 2399 | Other current liabilities (Note 19) | 9,408 | - | 9,528 | - |
| 1479 | Other current assets (Note 16) | 25,373 | 1 | 12,567 | - | 21XX | Total current liabilities | 818,476 | 17 | 831,570 | 17 |
| 11XX | Total current assets | 2,228,656 | 48 | 2,358,116 | 48 | ||||||
| Non-current assets | |||||||||||
| 1517 | Financial assets at FVTOCI | 2540 | Non-current liabilities | ||||||||
| 1517 | Financial assets - non-current (Notes 8 and 30) | 48,157 | 1 | 59,011 | 1 | 2550 | Long-term borrowings (Notes 17, 30, and 32) | 11,585 | - | 173,309 | 4 |
| 1550 | Investments accounted for using equity method (Note 12) | 753,553 | 16 | 760,795 | 15 | 2570 | Provisions - non-current (Note 20) | 3,301 | - | 20,465 | - |
| 1600 | Property, plant and equipment (Notes 13 and 31, 32 and 33) | 1,522,950 | 33 | 1,643,268 | 33 | 2580 | Deferred tax liabilities (Note 25) | 4,400 | - | 6,857 | - |
| 1755 | Right-of-use assets (Note 14) | 63,224 | 1 | 60,642 | 1 | 2630 | Lease liabilities - non-current (Notes 14 and 30) | 62,977 | 2 | 60,872 | 1 |
| 1780 | Intangible assets (Note 15) | 14,350 | - | 13,216 | - | 2640 | Deferred benefit liability - non-current (Note 21) | - | - | 7,078 | - |
| 1840 | Deferred tax assets (Note 25) | 25,123 | 1 | 45,037 | 1 | 2670 | Other non-current liabilities (Note 19 and 30) | 3,862 | - | 4,038 | - |
| 1915 | Prepayments for equipment (Note 33) | 8,784 | - | 18,557 | 1 | 25XX | Total non-current liabilities | 86,125 | 2 | 272,795 | 5 |
| 1975 | Deferred benefit liability - non-current (Note 21) | 4,139 | - | - | - | 2XXX | Total liabilities | 904,601 | 19 | 1,104,365 | 22 |
| 1990 | Other non-current assets (Note 16 and 30) | 5,382 | - | 5,217 | - | ||||||
| 15XX | Total non-current assets | 2,445,662 | 52 | 2,605,743 | 52 | 3110 | Equity (Note 22) | ||||
| 3200 | Ordinary shares | 3,006,223 | 64 | 3,006,223 | 61 | ||||||
| 3200 | Capital reserve | 266,729 | 6 | 245,685 | 5 | ||||||
| 3310 | Retained earnings | ||||||||||
| 3320 | Statutory reserves | 292,746 | 6 | 286,048 | 6 | ||||||
| 3350 | Special reserves | 37,523 | 1 | 37,523 | 1 | ||||||
| 3300 | undistributed earnings | 201,981 | 5 | 307,481 | 6 | ||||||
| 3300 | Total retained earnings | 532,250 | 12 | 631,052 | 13 | ||||||
| 3400 | Other equities | ( 35,485 ) | ( 1 ) | ( 23,466 ) | ( 1 ) | ||||||
| 3XXX | Total equity | 3,769,717 | 81 | 3,859,494 | 78 | ||||||
| 1XXX | Total assets | $ 4,674,318 | 100 | $ 4,963,859 | 100 | Total liabilities and equity | $ 4,674,318 | 100 | $ 4,963,859 | 100 |
The accompanying notes are an integral part of the parent-only financial statements.
Chairman: Su,Feng-Cheng
Manager: Lee, Jung-Huan
Accounting Supervisor: Li, Hsiao-Ping
TYNTEK Corporation
Parent-only Statement of Comprehensive Income
For the Years Ended December 31, 2025 and 2024
Unit: NTD thousands; EPS (loss) in NTD
| Code | 2025 | 2024 | |||
|---|---|---|---|---|---|
| Amount | % | Amount | % | ||
| 4000 | Operating revenue (Notes 23 and 31) | $ 2,328,727 | 100 | $ 2,352,628 | 100 |
| 5000 | Operating cost (Notes 11, 24, and 31) | 2,076,826 | 89 | 2,078,178 | 88 |
| 5900 | Gross income from operations | 251,901 | 11 | 274,450 | 12 |
| Operating expenses (Notes 24 and 31) | |||||
| 6100 | Selling and marketing expenses | 37,650 | 2 | 35,921 | 2 |
| 6200 | Administrative expenses | 147,173 | 6 | 186,680 | 8 |
| 6300 | Research and development expenses | 121,235 | 5 | 123,024 | 5 |
| 6450 | Expected credit impairment reversal gains | ( 375 ) | - | - | - |
| 6000 | Total operating expenses | 305,683 | 13 | 345,625 | 15 |
| 6900 | Net operating loss | ( 53,782 ) | ( 2 ) | ( 71,175 ) | ( 3 ) |
| Non-operating income and expense | |||||
| 7100 | Interest revenue (Note 24 and 31) | 11,867 | 1 | 12,104 | - |
| 7010 | Other income (Notes 24 and 31) | 7,660 | - | 9,386 | - |
| 7020 | Other gains or losses (Note 24) | ( 11,933 ) | ( 1 ) | 37,429 | 2 |
| 7050 | Financial costs (Note 24) | ( 8,059 ) | - | ( 10,177 ) | - |
| 7070 | Share of profit or loss of subsidiaries and associates accounted for using equity method (Note 12) | ( 2,651 ) | - | 90,957 | 4 |
| 7000 | Total non-operating income and expenses | ( 3,116 ) | - | 139,699 | 6 |
| 7900 | Net income (loss) before tax | ( 56,898 ) | ( 2 ) | 68,524 | 3 |
| 7950 | Income tax expense (Note 25) | 19,338 | 1 | 5,635 | 1 |
| 8200 | Net income (loss) for this year | ( 76,236 ) | ( 3 ) | 62,889 | 2 |
| Other comprehensive income (net amount) | |||||
|---|---|---|---|---|---|
| 8310 | Items that will not be reclassified subsequently to profit or loss: | ||||
| 8311 | Remeasurement of defined benefit plans (Note 21) | $ 7,496 | - | $ 4,090 | - |
| 8316 | Unrealized gains (losses) on investments in equity instruments at FVTOCI (Note 22) | ( 10,854 ) | - | 8,313 | 1 |
| 8336 | Unrealized gains (losses) on equity instruments of subsidiaries, associates, and joint ventures at FVOCI accounted for using the equity method (Note 22) | ( 4,500 ) | - | 430 | - |
| 8349 | Income tax relating to items that will not be reclassified subsequently to profit or loss (Note 22) | 2,171 | - | ( 1,663 ) | - |
| 8360 | Items that may be reclassified subsequently to profit or loss (Note 22): | ||||
| 8380 | Share of other comprehensive income of subsidiaries accounted for using the equity method | 1,454 | - | 8,361 | - |
| 8399 | Income tax relating to items that may be reclassified subsequently to profit or loss | ( 290 ) | - | ( 1,672 ) | - |
| 8300 | Other comprehensive income of the current year (net amount after tax) | ( 4,523 ) | - | 17,859 | 1 |
| 8500 | Total comprehensive income of the current year | ( $ 80,759 ) | ( 3 ) | $ 80,748 | 3 |
| Earnings (loss) per share (Note 26) | |||||
| 9710 | Basic | ( $ 0.25 ) | $ 0.21 | ||
| 9810 | Diluted | ( $ 0.25 ) | $ 0.21 |
The accompanying notes are an integral part of the parent-only financial statements.
Chairman: Su,Feng-Cheng
Manager: Lee, Jung-Huan
Accounting Supervisor: Li, Hsiao-Ping
TYNTEK Corporation
Parent-only Statement of Changes in Equity
For the Years Ended December 31, 2025 and 2024
Unit: NTD thousand
| Code | Share capital | Capital reserve | Retained earnings | Other items of equity | Total equity | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Shares (Thousands) | Amount | Statutory reserves | Special reserves | undistributed earnings | Exchange Differences in Translating the Financial Statements of Foreign Operations | Unrealized Gain (Loss) on Financial Assets at Fair Value Through Other Comprehensive Income | ||||
| A1 | Balance on January 1, 2024 | 300,621 | $ 3,006,223 | $ 245,261 | $ 286,048 | $ 46,381 | $ 291,768 | ($ 23,397) | ($ 13,838) | $ 3,838,446 |
| Earning appropriation and distribution for 2023 | ||||||||||
| B17 | Reversed special reserve | - | - | - | - | ( 8,858 ) | 8,858 | - | - | - |
| B5 | Cash dividends to shareholders of the Company | - | - | - | - | - | ( 60,124 ) | - | - | ( 60,124 ) |
| D1 | 2024 net income | - | - | - | - | - | 62,889 | - | - | 62,889 |
| D3 | 2024 other comprehensive income after tax | - | - | - | - | - | 4,090 | 6,689 | 7,080 | 17,859 |
| D5 | 2024 total comprehensive income | - | - | - | - | - | 66,979 | 6,689 | 7,080 | 80,748 |
| C7 | Changes in associates and joint ventures accounted for using the equity method | - | - | ( 122 ) | - | - | - | - | - | ( 122 ) |
| M7 | Changes in ownership interest of subsidiary | - | - | 546 | - | - | - | - | - | 546 |
| Z1 | Balance at December 31, 2024 | 300,621 | 3,006,223 | 245,685 | 286,048 | 37,523 | 307,481 | ( 16,708 ) | ( 6,758 ) | 3,859,494 |
| Earning appropriation and distribution for 2024 | ||||||||||
| B1 | Appropriated as statutory reserves | - | - | - | 6,698 | - | ( 6,698 ) | - | - | - |
| B5 | Cash dividends to shareholders of the Company | - | - | - | - | - | ( 30,062 ) | - | - | ( 30,062 ) |
| D1 | Net loss of 2025 | - | - | - | - | - | ( 76,236 ) | - | - | ( 76,236 ) |
| D3 | 2025 other comprehensive income after tax | - | - | - | - | - | 7,496 | 1,164 | ( 13,183 ) | ( 4,523 ) |
| D5 | 2025 total comprehensive income | - | - | - | - | - | ( 68,740 ) | 1,164 | ( 13,183 ) | ( 80,759 ) |
| C7 | Changes in associates and joint ventures accounted for using the equity method | - | - | 21,044 | - | - | - | - | - | 21,044 |
| Z1 | Balance on December 31, 2025 | 300,621 | $ 3,006,223 | $ 266,729 | $ 292,746 | $ 37,523 | $ 201,981 | ($ 15,544 ) | ($ 19,941 ) | $ 3,769,717 |
The accompanying notes are an integral part of the parent-only financial statements.
Chairman: Su,Feng-Cheng
Manager: Lee, Jung-Huan
Accounting Supervisor: Li, Hsiao-Ping
TYNTEK Corporation
Parent-only Statement of Cash Flows
For the Years Ended December 31, 2025 and 2024
Unit: NTD thousand
| Code | 2025 | 2024 | |
|---|---|---|---|
| Cash flows from operating activities | |||
| A10000 | Net income (loss) before tax for this year | ($ 56,898) | $ 68,524 |
| A20010 | Adjustments for: | ||
| A20100 | Depreciation expenses | 268,471 | 271,448 |
| A20200 | Amortization expenses | 5,337 | 3,468 |
| A20300 | Expected credit impairment reversal gains | ( 375) | - |
| A20400 | Net loss on financial assets and liabilities at FVTPL | 4,008 | 8,980 |
| A20900 | Financial costs | 8,059 | 10,177 |
| A21200 | Interest income | ( 11,867) | ( 12,104) |
| A21300 | Dividend revenue | ( 1,530) | ( 1,224) |
| A22400 | Share of profit or loss of subsidiaries and associates accounted for using equity method | 2,651 | ( 90,957) |
| A23800 | Loss on inventory valuation falling and obsolescence (gain on recovery) | ( 32,967) | 4,687 |
| A24100 | Unrealized gains on foreign currency exchange | ( 11,385) | ( 34,283) |
| A29900 | Loss from disposal of subsidiary | - | 33 |
| A30000 | Changes in operating assets and liabilities | ||
| A31130 | Note receivable | 11 | ( 29) |
| A31150 | Accounts receivable - related parties | 56,535 | ( 111,049) |
| A31180 | Other receivables (related parties) | 5,287 | 3,442 |
| A31200 | Inventories | 97,994 | ( 23,673) |
| A31230 | Pre-payments | ( 12,983) | 4,559 |
| A31240 | Other current assets | 12 | ( 14) |
| A32130 | Note payable | - | ( 4) |
| A32150 | Accounts payable - related parties | ( 58,847) | 12,154 |
| A32180 | Other payables | 50,538 | 45,265 |
| A32200 | Provisions | ( 17,164) | 571 |
| A32230 | Other current liabilities | ( 120) | ( 1,278) |
| A32240 | Net defined benefit liability - non-current | ( 3,721) | ( 3,895) |
| A33000 | Cash from operations | 291,046 | 154,798 |
| A33300 | Interest paid | ( 8,051) | ( 10,161) |
| A33500 | Income tax paid | ( 204) | ( 1,237) |
| AAAA | Net cash inflow from operating activities | 282,791 | 143,400 |
26
27
Net cash flows of investing activities
| B00040 | Acquisition of financial assets at amortized cost | ($ 771,142) | ($ 6,330) |
|---|---|---|---|
| B00050 | Disposal of financial assets at amortized cost | 116,330 | 6,239 |
| B00200 | Disposal of financial assets at FVTPL | 2,145 | 30,903 |
| B02700 | Acquisition of property, plant, and equipment | ( 147,770) | ( 188,314) |
| B04500 | Acquisition of intangible assets | ( 4,287) | ( 4,350) |
| B07100 | Decrease (increase) in pre-payments for equipment | 9,773 | ( 1,111) |
| B07500 | Interest received | 11,857 | 12,550 |
| B07600 | Dividends received | 1,530 | 1,224 |
| B09900 | Collection of dividends from subsidiaries | 22,590 | 21,749 |
| B09900 | Other investing activities | - | ( 2,507) |
| BBBB | Net cash outflows from investing activities | ( 758,974) | ( 129,947) |
| Cash flows from financing activities | |||
| C00100 | Increase in short-term borrowings | 234,347 | 120,988 |
| C00200 | Decrease in short-term borrowings | ( 237,360) | ( 100,657) |
| C01700 | Repayments of long-term borrowings | ( 174,380) | ( 180,530) |
| C03000 | Decrease in guarantee deposits received | ( 176) | - |
| C04020 | Repayment of the principal portion of leases | ( 3,561) | ( 3,409) |
| C04500 | Cash dividends distributed | ( 30,062) | ( 60,124) |
| CCCC | Net cash outflows from financing activities | ( 211,192) | ( 223,732) |
| DDDD | Effects of exchange rate changes on the balance of cash held in foreign currencies | 1,085 | ( 4,748) |
| EEEE | Decrease in cash and cash equivalents | ( 686,290) | ( 215,027) |
| E00100 | Balance of cash and cash equivalents at the beginning of the year | 911,403 | 1,126,430 |
| E00200 | Balance of cash and cash equivalents at the end of the year | $ 225,113 | $ 911,403 |
The accompanying notes are an integral part of the parent-only financial statements.
Chairman: Su,Feng-Cheng Manager: Lee, Jung-Huan Accounting Supervisor: Li, Hsiao-Ping
[Attachment 4]
TYNTEK Corporation
Table of 2025 Earnings Distribution
Unit: NTD $
| Item | Amount (NTD) |
|---|---|
| Undistributed earnings in the beginning of the period | $ 270,721,214 |
| Plus: actuarial gains and losses accounted in retained earnings | 7,495,906 |
| Undistributed earnings | 278,217,120 |
| Loss after tax in 2025 | (76,236,088) |
| Distributable net profit | $ 201,981,032 |
| Less: distributable items | |
| Dividend to shareholders - cash (NT$0.1 per share) | (30,062,225) |
| Note 1、2 | |
| Dividend to shareholders- shares | 0 |
| Undistributed earnings at the end of the period | $ 171,918,807 |
Note 1: It was resolved by the Company's board of directors and was reported to the shareholders' meeting.
Note 2: In case of buying back the Company's shares, transferring or writing off treasury shares, converting convertible corporate bonds, exercising employee subscription warrants, or other reason, affects the numbers of outstanding shares, and thus the shareholder dividend yield is changed accordingly and revision is required, it is intended to authorize the Chairman with full power upon the resolution adopted by the Board of Directors.
Note 3: The cash dividends are distributed pursuant to the percentage until 1 NDT, under NTD 1 is rounded-off. The total of frictions under NTD 1 will be adjustment to the total cash dividend distribution as the dismal number from large to small, and the account number from earlier to later.
Chairman: Su, Feng-Cheng Manager: Li, Jung-Huan Accounting Officer: Li, Hsiao-Ping
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