Stock Code:2367

UNITECH PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES

Consolidated Financial Statements

With Independent Auditors’ Report
For the Years Ended December 31, 2025 and 2024

Address: No. 3, Lane 4, Zhongshan Road, Tucheng District, New Taipei City
Telephone: (02)2268-5071

The independent auditors’ report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors’ report and consolidated financial statements, the Chinese version shall prevail.

Contents	Page
1. Cover Page	1
2. Table of Contents	2
3. Representation Letter	3
4. Independent Auditors’ Report	4
5. Consolidated Balance Sheets	5
6. Consolidated Statements of Comprehensive Income	6
7. Consolidated Statements of Changes in Equity	7
8. Consolidated Statements of Cash Flows	8
9. Notes to the Consolidated Financial Statements
(1) Company history	9
(2) Approval date and procedures of the consolidated financial statements	9
(3) New standards, amendments and interpretations adopted	9~11
(4) Summary of material accounting policies	11~27
(5) Significant accounting assumptions and judgments, and major sources of estimation uncertainty	27~28
(6) Explanation of significant accounts	28~62
(7) Related-party transactions	63~64
(8) Pledged assets	64
(9) Significant commitments and contingencies	65
(10) Losses Due to Major Disasters	65
(11) Subsequent Events	65
(12) Other	65
(13) Other disclosures
(a) Information on significant transactions	66~68
(b) Information on investees	69
(c) Information on investment in mainland China	69~70
(14) Segment information	70~71

Representation Letter

The entities that are required to be included in the combined financial statements of Unitech Printed Circuit Board Corporation as of and for the year ended December 31, 2025 under the Criteria Governing the Preparation of Affiliation Reports, Consolidated Business Reports, and Consolidated Financial Statements of Affiliated Enterprises are the same as those included in the consolidated financial statements prepared in conformity with International Financial Reporting Standards No. 10, "Consolidated Financial Statements." endorsed by the Financial Supervisory Commission of the Republic of China. In addition, the information required to be disclosed in the combined financial statements is included in the consolidated financial statements. Consequently, Unitech Printed Circuit Board Corporation and Subsidiaries do not prepare a separate set of combined financial statements.

Company name: Unitech Printed Circuit Board Corporation
Chairman: CHANG, YUAN-MING
Date: March 11, 2026

KPMG

多快速素群合作計算學合作

KPMG

台北市110615信義路5段7號68樓(台北101大樓)

68F., TAIPEI 101 TOWER, No. 7, Sec. 5,

Xinyi Road, Taipei City 110615, Taiwan (R.O.C.)

電話 Tel +886 2 8101 6666

傳真 Fax +886 2 8101 6667

網址 Web kpmg.com/tw

Independent Auditors' Report

To the Board of Directors of Unitech Printed Circuit Board Corporation:

Opinion

We have audited the consolidated financial statements of Unitech Printed Circuit Board Corporation and its subsidiaries (“the Group”), which comprise the consolidated balance sheet as of December 31, 2025 and 2024, the consolidated statement of comprehensive income, changes in equity and cash flows for the years then ended, and notes to the consolidated financial statements, including a summary of material accounting policies.

In our opinion, based on our audits and the report of other auditors (please refer to Other Matter paragraph), 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 its consolidated financial performance and its consolidated cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and with the International Financial Reporting Standards (“IFRSs”), International Accounting Standards (“IASs”), Interpretations developed by the International Financial Reporting Interpretations Committee (“IFRIC”) or the former Standing Interpretations Committee (“SIC”) endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China.

Basis for Opinion

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

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. In our professional judgments, key audit matters to communicate in the independent auditor’s report is listed below:

Evaluation of Inventories

Please refer to note 4(h) “Inventories”, note 5 “Significant accounting assumptions and judgments, and major sources of estimation uncertainty- Evaluation of inventories”, and note 6(e) “Inventories” of the consolidated financial statements.

KPMG, a Taiwan partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

KPMG
4-1

Description of key audit matter:

Inventories are measured by the lower cost and net realizable value accounting. Due to the rapid change of terminal product market, the clients' intention about placing and changing orders for products could be affected. Furthermore, it also resulted in a risk in which the carrying value of inventories may be higher than its net realizable value and caused the obsolete stock. Therefore, the valuation of inventories is one of the key audit matters for our audit.

How the matter was addressed in our audit:

Our principal audit procedures included: Evaluating the rationality of the policy of making provision to inventories impairment, evaluating the assumption of allowance for inventory valuation of the authorities, and the situation of obsolescence of inventory that has happened in prior periods; confirming whether the Group has undertaken the inventory valuation based on the policy; inspecting the inventory aging report and analyzing the difference in the inventory aging in comparison to prior periods. Understanding and evaluating the management's judgment on the calculation of the net realizable value; testing the appropriateness of the inventory valuation, evaluating the management's calculations of allowance for inventory loss to ensure their appropriateness and considering the adequacy of the Group's disclosures in allowance for inventory valuation.

Other Matter

The Group's investee company was accounted for by the equity method based on its financial statements which was audited by other auditors. Our opinion, insofar as it related to the Group's investee company is based solely on the report of other auditors. As of December 31, 2025 and 2024, the total assets of investee company which constituted 5.44% and 4.06% of the Group's consolidated total assets, respectively. For the years ended December 31, 2025 and 2024, the profit and loss of affiliated companies accounted for by using the equity method constituted 18.63% and 0.31% of the income which the Group recognized before tax, respectively.

We have also audited the parent company only financial statements of Unitech Printed Circuit Board Crop. as of and for the years ended December 31, 2025 and 2024, on which we have issued an unmodified opinion.

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

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and with the IFRSs, IASs, IFRC, SIC endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

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

Those charged with governance (including the Audit Committee) are responsible for overseeing the Group's financial reporting process.

KPMG
4-2

Auditors' Responsibilities for the Audit of the Consolidated Financial Statements

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

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

Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors' report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors' report. However, future events or conditions may cause the Group to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient and appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

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

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

KPMG

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

The engagement partners on the audit resulting in this independent auditors' report are Horng, Shyh-Gang and Hsu, Ming-Fang.

KPMG

Taipei, Taiwan (Republic of China)

March 11, 2026

Notes to Readers

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

The independent auditors' audit report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors' audit report and consolidated financial statements, the Chinese version shall prevail.

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

Unitech Printed Circuit Board Corporation and Subsidiaries

Consolidated Balance Sheets

December 31, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars)

Assets	December 31, 2025		December 31, 2024		Liabilities and Equity	December 31, 2025		December 31, 2024
		Amount	%	Amount			%	Amount	%	Amount	%
Current assets:						Current liabilities:
1100	Cash and cash equivalents (note 6(a))	$ 906,024	4	1,089,232	5	2100	Short-term borrowings (notes 6(j), 7 and 8)	$ 1,919,820	8	2,260,065	10
1110	Current financial assets at fair value through profit or loss (notes 6(b) and (u))	23,102	-	22,759	-	2170	Accounts payable	2,370,064	10	2,425,289	10
1150	Notes receivable, net (notes 6(d) and (s))	72,563	-	25,804	-	2200	Other payables (note 6(k))	2,092,643	8	1,426,569	6
1170	Accounts receivable, net (notes 6(d) and (s))	3,844,362	16	4,768,227	21	2230	Current tax liabilities	23,205	-	-	-
1200	Other receivables	136,978	1	119,703	1	2250	Current provisions	3,713	-	-	-
1210	Other receivables-related parties (note 7)	666	-	663	-	2280	Current lease liabilities (notes 6(m) and (u))	25,088	-	42,060	-
1310	Inventories (note 6(e))	2,993,202	12	2,553,674	11	2322	Current portion of long-term borrowings (notes 6(l), 7 and 8)	1,580,706	6	960,184	4
1410	Prepayments	211,068	1	101,556	-	2399	Other current liabilities	31,011	-	37,044	-
1476	Other financial assets-current	4,825	-	4,789	-		Total current liabilities	8,046,250	32	7,151,211	30
1479	Other current assets	12,073	-	11,777	-	2540	Non-Current liabilities:
	Total current assets	8,204,863	34	8,698,184	38	2570	Long-term borrowings (notes 6(l), 7 and 8)	3,592,451	15	3,135,029	13
	Non-current assets:					2580	Deferred tax liabilities (note 6(o))	177,637	1	179,193	1
1517	Financial assets at fair value through other comprehensive income non-current (notes 6(c) and 7)	310,537	1	405,612	2	2640	Non-current lease liabilities (notes 6(m) and (u))	27,284	-	33,408	-
1550	Investments accounted for using equity method, net (notes 6(f) and 8)	1,348,236	5	947,830	4		Net defined benefit liability, non-current (note 6(n))	97,030	-	157,808	1
1600	Property, plant and equipment (notes 6(g), (u) and 8)	13,112,394	53	12,582,042	54		Total non-current liabilities	3,894,402	16	3,505,438	15
1755	Right-of-use assets (notes 6(h) and 8)	176,868	1	205,351	1	3110	Total liabilities	11,940,652	48	10,656,649	45
1780	Intangible assets (note 6(i))	91,202	-	102,833	-	3200	Equity attributable to owners of parent (note 6(p)):
1840	Deferred tax assets (note 6(o))	250,522	1	275,226	1		Ordinary shares	7,062,532	28	7,094,072	30
1915	Prepayments for business facilities	1,155,559	5	17,886	-		Capital surplus	4,046,665	16	3,718,317	16
1920	Refundable deposits (note 8)	37,945	-	37,670	-	3310	Retained earnings:
1980	Other non-current financial assets (note 8)	42,415	-	-	-	3350	Legal reserve	334,902	1	176,123	1
1990	Other non-current assets	68,332	-	63,572	-		Unappropriated retained earnings	1,387,821	7	1,587,790	7
	Total non-current assets	16,594,010	66	14,638,022	62		Total retained earnings	1,722,723	8	1,763,913	8
						3410	Other equity:
						3420	Exchange differences on translation of foreign financial statements	254,894	1	248,050	1
						3440	Unrealised gains (losses) from financial assets at fair value through other comprehensive income	17,112	-	120,192	1
						3450	Gains (losses) on remeasurements of defined benefit	(215,792)	(1)	(264,987)	(1)
						3491	Other equity, the unearned remuneration of employees	(29,913)	-	-	-
							Total other equity	26,301	-	103,255	1
							Total equity	12,858,221	52	12,679,557	55
							Total liabilities and equity	$ 24,798,873	100	23,336,206	100

See accompanying notes to consolidated financial statements.

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

Unitech Printed Circuit Board Corporation and Subsidiaries

Consolidated Statements of Comprehensive Income

For the years ended December 31, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Except for Earnings Per Common Share)

	2025		2024
		Amount	%	Amount	%
4000	Operating revenue, net (note 6(s))	$ 16,246,291	100	18,531,998	100
5110	Cost of sales (notes 6(e), (i), (m), (n) and 12)	13,831,642	85	14,950,360	81
	Gross profit from operations	2,414,649	15	3,581,638	19
	Operating expenses (notes 6(d), (i), (m), (n), (q), (t), 7 and 12):
6100	Selling expenses and administrative expenses	1,795,428	11	1,853,710	10
6300	Research and development expenses	163,918	1	156,717	1
6450	Expected credit loss (gain)	(586)	-	12,532	-
	Total operating expenses	1,958,760	12	2,022,959	11
	Net operating profit	455,889	3	1,558,679	8
	Non-operating income and expenses (notes 6(b), (f), (g), (m) and (u)):
7100	Interest income	25,588	-	35,041	-
7010	Other income	171,815	1	129,196	1
7020	Other gains and losses, net	(75,903)	-	128,156	1
7050	Finance costs, net	(144,739)	(1)	(230,075)	(1)
7060	Share of profit of associates accounted for using equity method, net	99,078	1	5,070	-
	Total non-operating income and expenses	75,839	1	67,388	1
	Profit from continuing operations before tax	531,728	4	1,626,067	9
7950	Less: Income tax expenses (note 6(o))	47,278	-	38,277	-
	Profit	484,450	4	1,587,790	9
8300	Other comprehensive income:
8310	Items that may not be reclassified subsequently to profit or loss
8311	Gains (losses) on remeasurements of defined benefit plans (note 6(n))	49,372	-	(27,209)	-
8316	Unrealized gains (losses) from investments in equity instruments measured at fair value through other comprehensive income	(95,075)	(1)	(49,973)	-
8320	Share of other comprehensive income of associates accounted for using equity method, components of other comprehensive income that will not be reclassified to profit or loss (note 6(f) and (p))	(8,182)	-	(8,411)	-
	Items that may not be reclassified subsequently to profit or loss	(53,885)	(1)	(85,593)	-
8360	Items that may be reclassified subsequently to profit or loss
8361	Exchange differences on translation of foreign financial statements	6,844	-	270,399	1
	Items that may be reclassified subsequently to profit or loss	6,844	-	270,399	1
8300	Other comprehensive income (after tax)	(47,041)	(1)	184,806	1
	Comprehensive income	$ 437,409	3	1,772,596	10
	Profit attributable to:
	Owners of parent	$ 484,450	4	1,587,790	9
		$ 484,450	4	1,587,790	9
	Comprehensive income attributable to:
	Owners of parent	$ 437,409	3	1,772,596	10
		$ 437,409	3	1,772,596	10
	Earnings per share (NT dollars) (note 6(r))
	Basic earnings per share	$	0.68		2.36
	Diluted earnings per share	$	0.68		2.36

See accompanying notes to consolidated financial statements.

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

Unitech Printed Circuit Board Corporation and Subsidiaries

Consolidated Statements of Changes in Equity

For the years ended December 31, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars)

Balance at January 1, 2024

Profit

Other comprehensive income

Comprehensive income

Appropriation and distribution of retained earnings:

Legal reserve used to offset accumulated deficits

Other changes in capital surplus:

Other changes in capital surplus

Capital increase by cash

Changes in equity of associates accounted for using equity method

Share-based payments

Balance at December 31, 2024

Profit

Other comprehensive income

Comprehensive income

Appropriation and distribution of retained earnings:

Legal reserve

Cash dividends on ordinary share

Other changes in capital surplus:

Other changes in capital surplus

Changes in equity of associates accounted for using equity method

Increase in treasury share

Retirement of treasury share

Balance at December 31, 2025

Equity attributable to owners of parent

Ordinary shares	Capital surplus	Retained earnings		Exchange differences on translation of foreign financial statements	Total other equity interest			Treasury shares	Total equity attributable to owners of parent	Total equity
		Legal reserve	Unappropriated retained earnings		Unrealized gains (losses) from financial assets at fair value through other comprehensive income	Gains (losses) on remeasurements of defined benefit	The unearned remuneration of employees
$ 6,694,072	3,035,358	347,938	(171,815)	(22,349)	178,921	(238,123)	-	-	9,824,002	9,824,002
-	-	-	1,587,790	-	-	-	-	-	1,587,790	1,587,790
-	-	-	-	270,399	(58,729)	(26,864)	-	-	184,806	184,806
-	-	-	1,587,790	270,399	(58,729)	(26,864)	-	-	1,772,596	1,772,596
-	-	(171,815)	171,815	-	-	-	-	-	-	-
-	169	-	-	-	-	-	-	-	169	169
400,000	637,400	-	-	-	-	-	-	-	1,037,400	1,037,400
-	25,590	-	-	-	-	-	-	-	25,590	25,590
-	19,800	-	-	-	-	-	-	-	19,800	19,800
7,094,072	3,718,317	176,123	1,587,790	248,050	120,192	(264,987)	-	-	12,679,557	12,679,557
-	-	-	484,450	-	-	-	-	-	484,450	484,450
-	-	-	-	6,844	(103,080)	49,195	-	-	(47,041)	(47,041)
-	-	-	484,450	6,844	(103,080)	49,195	-	-	437,409	437,409
-	-	158,779	(158,779)	-	-	-	-	-	-	-
-	-	-	(496,585)	-	-	-	-	-	(496,585)	(496,585)
-	239	-	-	-	-	-	-	-	239	239
-	343,803	-	-	-	-	-	(29,913)	-	313,890	313,890
-	-	-	-	-	-	-	-	(76,289)	(76,289)	(76,289)
(31,540)	(15,694)	-	(29,055)	-	-	-	-	76,289	-	-
$ 7,062,532	4,046,665	334,902	1,387,821	254,894	17,112	(215,792)	(29,913)	-	12,858,221	12,858,221

See accompanying notes to consolidated financial statements.

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

Unitech Printed Circuit Board Corporation and Subsidiaries

Consolidated Statements of Cash Flows

For the years ended December 31, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars)

	2025	2024
Cash flows from (used in) operating activities:
Profit before tax	$ 531,728	1,626,067
Adjustments:
Adjustments to reconcile profit (loss):
Depreciation expense	1,408,619	1,466,525
Amortization expense	53,469	63,151
Expected credit loss (gain)	(586)	12,532
Interest expense	144,509	229,567
Interest income	(25,588)	(35,041)
Dividend income	(8,490)	(7,959)
Share-based payments	-	19,800
Share of profit of subsidiaries accounted for using equity method	(99,078)	(5,070)
(Gain) loss on disposal of property, plant and equipment	(29,420)	23,105
Net profit on financial assets at fair value through profit or loss	(343)	(278)
Other items	(8)	(4)
Total adjustments to reconcile profit	1,443,084	1,766,328
Changes in operating assets and liabilities:
Notes receivable	(46,759)	(13,989)
Accounts receivable	924,451	(757,554)
Other receivables	(17,285)	(49,584)
Other receivables-related parties	(3)	(26)
Inventories	(439,528)	(205,822)
Prepayments	(109,512)	(12,413)
Other financial assets-current	(36)	(1,385)
Other current assets	(296)	(2,493)
Accounts payable	(55,225)	283,495
Other payables	(180,989)	296,746
Increase in provisions	3,713	-
Other current liabilities	2,840	(7,633)
Net defined benefit liability	(11,406)	(11,364)
Total changes in operating assets and liabilities	69,965	(482,022)
Total adjustments	1,513,049	1,284,306

See accompanying notes to consolidated financial statements.

8-1

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

Unitech Printed Circuit Board Corporation and Subsidiaries

Consolidated Statements of Cash Flows

For the years ended December 31, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars)

	2025	2024
Cash inflow generated from operations	2,044,777	2,910,373
Interest received	25,598	34,986
Dividends received	8,490	7,959
Interest paid	(145,446)	(227,628)
Income taxes paid	(2,275)	(2,290)
Net cash flows from operating activities	1,931,144	2,723,400
Cash flows from (used in) investing activities:
Acquisition of financial assets at fair value through other comprehensive income	-	(19,833)
Acquisition of financial assets at fair value through profit or loss	(7,000)	(6,000)
Proceeds from disposal of financial assets at fair value through profit or loss	7,000	4,000
Acquisition of property, plant and equipment	(2,288,173)	(1,951,347)
Proceeds from disposal of property, plant and equipment	137,306	9,147
(Increase) decrease in refundable deposits	(275)	23,012
Acquisition of intangible assets	(16,133)	(6,821)
Increase in other non-current financial assets	(42,415)	-
Decrease (increase) in other non-current assets	63	(1,199)
Net cash flows used in investing activities	(2,209,627)	(1,949,041)
Cash flows from (used in) financing activities:
Increase in short-term borrowings	3,218,893	9,584,201
Decrease in short-term borrowings	(3,501,632)	(9,433,698)
Increase in short-term notes and bills payable	-	119,909
Decrease in short-term notes and bills payable	-	(119,909)
Proceeds from long-term borrowings	2,268,070	2,059,000
Repayments of long-term borrowings	(1,197,513)	(3,829,843)
(Decrease) increase in guarantee deposits received	(8,166)	2,084
Payment of lease liabilities	(53,746)	(53,478)
Cash dividends	(496,585)	-
Capital increase by cash	-	1,037,400
Cost of increase in treasury share	(76,289)	-
Net cash flows from (used in) financial activities	153,032	(634,334)
Effect of exchange rate changes on cash and cash equivalents	(57,757)	82,748
Net (decrease) increase in cash and cash equivalents	(183,208)	222,773
Cash and cash equivalents at beginning of period	1,089,232	866,459
Cash and cash equivalents at end of period	$ 906,024	1,089,232

See accompanying notes to consolidated financial statements.

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)
Unitech Printed Circuit Board Corporation and Subsidiaries
Notes to the Consolidated Financial Statements
For the years ended December 31, 2025 and 2024
(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

(1) Company history

Unitech Printed Circuit Board Corporation (the “Company”) was incorporated on December 31, 1984, with registered address of No. 3, Lane 4, Zhongshan Road, Tucheng District, New Taipei City, Taiwan, as a company limited by shares under the Company Act of the Republic of China (R.O.C.). The major business activities of Unitech Printed Circuit Board Corporation and subsidiaries (the “Group”) are the design, manufacture and sale of PCB.

(2) Approval date and procedures of the consolidated financial statements:

These consolidated financial statements were authorized for issue by the Board of Directors on March 11, 2026.

(3) New standards, amendments and interpretations adopted:

(a) The impact of the IFRS Accounting Standards endorsed by the Financial Supervisory Commission, R.O.C. which have already been adopted.

The Group has initially adopted the following new amendments, which do not have a significant impact on its consolidated financial statements, from January 1, 2025:

Amendments to IAS21 “Lack of Exchangeability”

(b) The impact of IFRS Accounting Standards endorsed by the FSC but not yet effective

The Group assesses that the adoption of the following new amendments, effective for annual period beginning on January 1, 2026, would not have a significant impact on its consolidated financial statements:

IFRS 17 “Insurance Contracts” and amendments to IFRS 17 “Insurance Contracts”
Amendments to IFRS 9 and IFRS 7 “Amendments to the Classification and Measurement of Financial Instruments”
Annual Improvements to IFRS Accounting Standards—Volume 11
Amendments to IFRS 9 and IFRS 7 “Contracts Referencing Nature-dependent Electricity”

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

The following new and amended standards, which may be relevant to the Group, have been issued by the International Accounting Standards Board (IASB), but have yet to be endorsed by the FSC:

Standards or Interpretations	Content of amendment	Effective date per IASB
IFRS 18 “Presentation and Disclosure in Financial Statements”	The new standard introduces three categories of income and expenses, two income statement subtotals and one single note on management performance measures. The three amendments, combined with enhanced guidance on how to disaggregate information, set the stage for better and more consistent information for users, and will affect all the entities.

• A more structured income statement: under current standards, companies use different formats to present their results, making it difficult for investors to compare financial performance across companies. The new standard promotes a more structured income statement, introducing a newly defined ‘operating profit’ subtotal and a requirement for all income and expenses to be allocated between three new distinct categories based on a company’s main business activities.

• Management performance measures (MPMs): the new standard introduces a definition for management performance measures, and requires companies to explain in a single note to the financial statements why the measure provides useful information, how it is calculated and reconcile it to an amount determined under IFRS Accounting Standards.

• Greater disaggregation of information: the new standard includes enhanced guidance on how companies group information in the financial statements. This includes guidance on whether information is included in the primary financial statements or is further disaggregated in the notes. | January 1, 2027
note: On September 25, 2025, the FSC issued a press release announcing that Taiwan will adopt IFRS 18 beginning in 2028. Entities that need to adopt the new standard earlier may do with the endorsement of the FSC. |

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

The Group is evaluating the impact on its consolidated financial position and consolidated financial performance upon the initial adoption of the abovementioned standards or interpretations. The results thereof will be disclosed when the Group completes its evaluation.

The Group does not expect the following other new and amended standards, which have yet to be endorsed by the FSC, to have a significant impact on its consolidated financial statements:

Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets Between an Investor and Its Associate or Joint Venture”
IFRS 19 “Subsidiaries without Public Accountability: Disclosures” and amendments to IFRS 19 “Subsidiaries without Public Accountability: Disclosures”
Amendments to IAS 21 “Translation to a Hyperinflationary Presentation Currency”

(4) Summary of material accounting policies:

The material accounting policies presented in the consolidated financial statements are summarized below. The following accounting policies were applied consistently throughout the periods presented in the consolidated financial statements.

(a) Statement of compliance

These consolidated financial statements have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers (hereinafter referred to as “the Regulations”) and the International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations endorsed and issued into effect by the Financial Supervisory Commission, R.O.C. (altogether referred to “IFRS Accounting Standards” endorsed by the “FSC”).

(b) Basis of preparation

(i) Basis of measurement

Except for the following significant accounts, the consolidated financial statements have been prepared on a historical cost basis:

1) Financial instruments at fair value through profit or loss are measured at fair value;
2) Financial assets at fair value through other comprehensive income are measured at fair value;
3) The defined benefit liabilities (assets) are measured at fair value of the plan assets less the present value of the defined benefit obligation, limited as explained in note 4(q).

(ii) Functional and presentation currency

The functional currency of each Group entity is determined based on the primary economic environment in which the entity operates. The consolidated financial statements are presented in New Taiwan Dollar (NTD), which is the Company’s functional currency. All financial information presented in NTD has been rounded to the nearest thousand.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(i) Principles of preparation of the consolidated financial statements

The consolidated financial statements comprise the Company and subsidiaries. Subsidiaries are entities controlled by the Group. The Group ‘controls’ an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity.

The financial statements of subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on which control ceases. Intragroup balances and transactions, and any unrealized income and expenses arising from Intragroup transactions are eliminated in preparing the consolidated financial statements. The Group attributes the profit or loss and each component of other comprehensive income to the owners of the parent and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance.

Accounting policies of subsidiaries have been adjusted to ensure consistency with the policies adopted by the Group.

Changes in the Group’s ownership interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received will be recognized directly in equity, and the Group will attribute it to the owners of the parent.

When the Group loses control over a subsidiary, it derecognizes the assets (including any goodwill) and liabilities of the subsidiary, and any related non-controlling interests and other components of equity. Any interest retained in the former subsidiary is measured at fair value when control is lost, with the resulting gain or loss being recognized in profit or loss. The Group recognizes as gain or loss in profit or loss the difference between (i) the fair value of the consideration received as well as any investment retained in the former subsidiary at its fair value at the date when control is lost; and (ii) the assets (including any goodwill), liabilities of the subsidiary as well as any related non-controlling interests at their carrying amounts at the date when control is lost, as gain or loss in profit or loss. When the Group loses control of its subsidiary, it accounts for all amounts previously recognized in other comprehensive income in relation to that subsidiary on the same basis as would be required if it had directly disposed of the related assets or liabilities.

(ii) List of subsidiaries in the consolidated financial statements

Name of investor	Name of subsidiary	Principal activity	Shareholding
			December 31, 2025	December 31, 2024
The Company	Unitech Electronics International Limited (Unitech BVI)	General investing	100.00 %	100.00 %
The Company	DA-TAI Investment Co., Ltd.	General investing	100.00 %	100.00 %
The Company	Unitech Electronics International (HK) Limited (Unitech HK)	General investing	6.10 %	6.10 %
The Company	UNITECH PCB (THAILAND) CO., LTD. (Unitech Thailand)	Manufacturing of electronics	100.00 %	100.00 %

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Name of investor	Name of subsidiary	Principal activity	Shareholding
			December 31, 2025	December 31, 2024
Unitech BVI	Unitech Electronics International (HK) Limited (Unitech HK)	General investing	93.90 %	93.90 %	-
Unitech HK	Shanghai Unitech Electronics Co., Ltd.	Manufacturing of electronics	100.00 %	100.00 %	-
Unitech HK	Shanghai Unitech Electronics (Nantong) Co., Ltd.	Manufacturing of electronics	21.33 %	21.33 %	-
Shanghai Unitech Electronics Co., Ltd.	Shanghai Unitech Electronics (Nantong) Co., Ltd.	Manufacturing of electronics	78.67 %	78.67 %	-

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

(d) Foreign currencies

(i) Foreign currency transactions

Transactions in foreign currencies are translated into the respective functional currencies of Group entities at the exchange rates at the dates of the transactions. At the end of each subsequent reporting period, monetary items denominated in foreign currencies are translated into the functional currencies using the exchange rate at that date. Non-monetary items denominated in foreign currencies that are measured at fair value are translated into the functional currencies using the exchange rate at the date that the fair value was determined. Non-monetary items denominated in foreign currencies that are measured based on historical cost are translated using the exchange rate at the date of the transaction.

Exchange differences are generally recognized in profit or loss, except for those differences relating to the following, which are recognized in other comprehensive income:

An investment in equity securities designated as at fair value through other comprehensive income.

(ii) Foreign operations

The assets and liabilities of foreign operations, including goodwill and fair value adjustments arising on acquisition, are translated into the presentation currency at the exchange rates at the reporting date. The income and expenses of foreign operations are translated into the presentation currency at the average exchange rate. Exchange differences are recognized in other comprehensive income.

When a foreign operation is disposed of such that control, significant influence, or joint control is lost, the cumulative amount in the translation reserve related to that foreign operation is reclassified to profit or loss as part of the gain or loss on disposal. When the consolidated disposes of only part of its interest in a subsidiary that includes a foreign operation while retaining control, the relevant proportion of the cumulative amount is reattributed to non controlling interests. When the Group disposes of only part of its investment in an associate or joint venture that includes a foreign operation while retaining significant influence or joint control, the relevant proportion of the cumulative amount is reclassified to profit or loss.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

When the settlement of a monetary receivable from or payable to a foreign operation is neither planned nor likely to occur in the foreseeable future, Exchange differences arising from such a monetary item that are considered to form part of the net investment in the foreign operation are recognized in other comprehensive income.

(e) Classification of current and non-current assets and liabilities

The Group classifies the asset as current under one of the following criteria, and all other assets are classified as non-current.

(i) It is expected to be realized, or intended to be sold or consumed, in the normal operating cycle;
(ii) It is held primarily for the purpose of trading;
(iii) It is expected to be realized within twelve months after the reporting period; or
(iv) The asset is cash or a cash equivalent (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

The Group classifies the liability as current under one of the following criteria, and all other liabilities are classified as non-current.

(i) It is expected to be settled in the normal operating cycle;
(ii) It is held primarily for the purpose of trading;
(iii) It is due to be settled within twelve months after the reporting period; or
(iv) The Group does not have the right at the end of the reporting period to defer settlement of the liability for at least twelve months after the reporting period.

(f) Cash and cash equivalents

Cash comprises cash on hand, demand deposits and time deposits. Cash equivalents are short term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. Time deposits which meet the above definition and are held for the purpose of meeting short term cash commitments rather than for investment or other purposes should be recognized as cash equivalents.

(g) Financial Instruments

Accounts receivables are initially recognized when they are originated. All other financial assets and financial liabilities are initially recognized when the Group becomes a party to the contractual provisions of the instrument. A financial asset (unless it is a trade receivable without a significant financing component) or financial liability is initially measured at fair value plus, for an item not at fair value through profit or loss (FVTPL), transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(i) Financial assets

All regular way purchases or sales of financial assets are recognized and derecognized on a trade date basis.

On initial recognition, a financial asset is classified as measured at: amortized cost; Fair value through other comprehensive income (FVOCI) – equity investment; or FVTPL. Financial assets are not reclassified subsequent to their initial recognition unless the Group changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model.

1) Financial assets measured at amortized cost

A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL:

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

These assets are subsequently measured at amortized cost, which is the amount at which the financial asset is measured at initial recognition, plus/minus, the cumulative amortization using the effective interest method, adjusted for any loss allowance. Interest income, foreign exchange gains and losses, as well as impairment, are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss.

2) Fair value through other comprehensive income (FVOCI)

On initial recognition of an equity investment that is not held for trading, the Group may irrevocably elect to present subsequent changes in the investment’s fair value in other comprehensive income. This election is made on an instrument-by-instrument basis.

Equity investments at FVOCI are subsequently measured at fair value. Dividends are recognized as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in other comprehensive income and are never reclassified to profit or loss.

Dividend income is recognized in profit or loss on the date on which the Group’s right to receive payment is established.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

3) Fair value through profit or loss (FVTPL)

All financial assets not classified as amortized cost or FVOCI described as above (e.g. financial assets held for trading and those that are managed and whose performance is evaluated on a fair value basis) are measured at FVTPL, including derivative financial assets. On initial recognition, the Group may irrevocably designate a financial asset, which meets the requirements to be measured at amortized cost or at FVOCI, as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise.

These assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognized in profit or loss.

4) Impairment of financial assets

The Group recognizes loss allowances for expected credit losses (ECL) on financial assets measured at amortized cost (including cash and cash equivalents, financial assets measured at amortized cost, notes and accounts receivable, other receivables and refundable deposits).

The Group measures loss allowances at an amount equal to lifetime ECL, except for the following which are measured as 12-month ECL:

The credit risk of bank deposits (e.g. the risk of default occurring beyond the expected duration of the financial instruments) has not increased significantly since initial recognition.

Loss allowance for accounts receivable is always measured at an amount equal to lifetime ECL.

When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECL, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis based on the Group’s historical experience and informed credit assessment as well as forward-looking information.

The Group assumes that the credit risk on a financial asset has increased significantly if it is more than 90 days past due.

The Group considers a financial asset to be in default when the financial asset is more than one year past due or the debtor is unlikely to pay its credit obligations to the Group in full.

ECL are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between the cash flows due to the Group in accordance with the contract and the cash flows that the Group expects to receive). ECL are discounted at the effective interest rate of the financial asset.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

At each reporting date, the Group assesses whether financial assets carried at amortized cost and debt securities at FVOCI are credit-impaired. A financial asset is ‘credit-impaired’ when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. Evidence that a financial asset is credit-impaired includes the following observable data:

significant financial difficulty of the borrower or issuer;
a breach of contract such as a default or being more than 90 days past due;
the lender of the borrower, for economic or contractual reasons relating to the borrower’s financial difficulty, having granted to the borrower a concession that the lender would not otherwise consider;
it is probable that the borrower will enter bankruptcy or other financial reorganization; or
the disappearance of an active market for a security because of financial difficulties.

Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. For debt securities at FVOCI, the loss allowance is charged to profit or loss and is recognized in other comprehensive income instead of reducing the carrying amount of the asset.

The gross carrying amount of a financial asset is written off when the Group has no reasonable expectations of recovering a financial asset in its entirety or a portion thereof. For corporate customers, the Group individually makes an assessment with respect to the timing and amount of write-off based on whether there is a reasonable expectation of recovery. The Group expects no significant recovery from the amount written off. However, financial assets that are written off could still be subject to enforcement activities in order to comply with the Group’s procedures for recovery of amounts due.

5) Derecognition of financial assets

The Group derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which the Group neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset.

The Group enters into transactions whereby it transfers assets recognized in its statement of balance sheet, but retains either all or substantially all of the risks and rewards of the transferred assets. In these cases, the transferred assets are not derecognized.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(ii) Financial liabilities and equity instruments

1) Classification of debt or equity

Debt and equity instruments issued by the Group are classified as financial liabilities or equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.

2) Equity instrument

An equity instrument is any contract that evidences residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued are recognized as the amount of consideration received, less the direct cost of issuing.

3) Treasury shares

When shares recognized as equity are repurchased, the amount of the consideration paid, which includes directly attributable costs, is recognized as a deduction from equity. Repurchased shares are classified as treasury shares. When treasury shares are sold or reissued subsequently, the amount received is recognized as an increase in equity, and the resulting surplus or deficit on the transaction is recognized in capital surplus or retained earnings (if the capital surplus is not sufficient to be written down).

4) Financial liabilities

Financial liabilities are classified as measured at amortized cost or FVTPL. A financial liability is classified as at FVTPL if it is classified as held-for-trading, it is a derivative or it is designated as such on initial recognition. Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense, are recognized in profit or loss.

Other financial liabilities are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognized in profit or loss. Any gain or loss on derecognition is also recognized in profit or loss.

5) Derecognition of financial liabilities

The Group derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. The Group also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value.

On derecognition of a financial liability, the difference between the carrying amount of a financial liability extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

6) Offsetting of financial assets and liabilities

Financial assets and financial liabilities are offset and the net amount presented in the statement of balance sheet when, and only when, the Group currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously.

(h) Inventories

Inventories are measured at the lower of cost and net realizable value. The cost of inventories is calculated using the weighted average method, and includes expenditure incurred in acquiring the inventories, production or conversion costs, and other costs incurred in bringing them to their present location and condition. In the case of manufactured inventories and work in progress, cost includes an appropriate share of production overheads based on normal operating capacity.

Net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and selling expenses.

(i) Investment in associates

Associates are those entities in which the Group has significant influence, but not control or joint control, over their financial and operating policies.

Investments in associates are accounted for using the equity method and are recognized initially at cost. The cost of the investment includes transaction costs. The carrying amount of the investment in associates includes goodwill arising from the acquisition less any accumulated impairment losses.

The consolidated financial statements include the Group’s share of the profit or loss and other comprehensive income of those associates, after adjustments to align their accounting policies with those of the Group, from the date on which significant influence commences until the date on which significant influence ceases. The Group recognizes any changes of its proportionate share in the investee within capital surplus, when an associate’s equity changes due to reasons other than profit and loss or comprehensive income, which did not result in changes in actual proportionate share.

Gains and losses resulting from transactions between the Group and an associate are recognized only to the extent of unrelated Group’s interests in the associate.

When the Group’s share of losses of an associate equals or exceeds its interests in an associate, it discontinues recognizing its share of further losses. After the recognized interest is reduced to zero, additional losses are provided for, and a liability is recognized, only to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of the associate.

(j) Property, plant and equipment

(i) Recognition and measurement

Items of property, plant and equipment are measured at cost, which includes capitalized borrowing costs, less accumulated depreciation and any accumulated impairment losses.

If significant parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Any gain or loss on disposal of an item of property, plant and equipment is recognized in profit or loss.

(ii) Subsequent expenditure

Subsequent expenditure is capitalized only if it is probable that the future economic benefits associated with the expenditure will flow to the Group.

(iii) Depreciation

Depreciation is calculated on the cost of an asset less its residual value and is recognized in profit or loss on a straight line basis over the estimated useful lives of each component of an item of property, plant and equipment.

Land is not depreciated.

The estimated useful lives of property, plant and equipment for current and comparative periods are as follows:

1) Buildings and constructions 3~55 years
2) Machinery equipment 3~12 years
3) Office equipment 3~5 years
4) Other equipment 3-5 years

Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.

(k) Leases

At inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

(i) As a lessee

The Group recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received.

The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be reliably determined, the Group’s incremental borrowing rate. Generally, the Group uses its incremental borrowing rate as the discount rate.

Lease payments included in the measurement of the lease liability comprise the following:

1) fixed payments, including in-substance fixed payments;
2) variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date;
3) amounts expected to be payable under a residual value guarantee; and
4) payments for purchase or termination options that are reasonably certain to be exercised.

The lease liability is measured at amortized cost using the effective interest method. It is remeasured when:

1) there is a change in future lease payments arising from the change in an index or rate; or
2) there is a change in the Group’s estimate of the amount expected to be payable under a residual value guarantee; or
3) there is a change in the lease term resulting from a change of its assessment on whether it will exercise an option to purchase the underlying asset, or
4) there is a change of its assessment on whether it will exercise an extension or termination option; or
5) there is any lease modification

When the lease liability is remeasured, other than lease modifications, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or in profit and loss if the carrying amount of the right-of-use asset has been reduced to zero.

When the lease liability is remeasured to reflect the partial or full termination of the lease for lease modifications that decrease the scope of the lease, the Group accounts for the remeasurement of the lease liability by decreasing the carrying amount of the right-of-use asset to reflect the partial or full termination of the lease, and recognize in profit or loss any gain or loss relating to the partial or full termination of the lease.

The Group presents right-of-use assets that do not meet the definition of investment and lease liabilities as a separate line item respectively in the statement of financial position.

The Group has elected not to recognize right-of-use assets and lease liabilities for short-term leases of office equipment that have a lease term of 12 months or less and leases of low-value assets. The Group recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(ii) As a lessor

When the Group acts as a lessor, it determines at least commencement whether each lease is a finance lease or an operating lease. To classify each lease, the Group makes an overall assessment of whether the lease transfers to the lessee substantially all of the risks and rewards of ownership incidental to ownership of the underlying asset. If this is the case, then the lease is a finance lease; if not, then the lease is an operating lease. As part of this assessment, the Group considers certain indicators such as whether the lease is for the major part of the economic life of the asset.

When the Group is an intermediate lessor, it accounts for its interests in the head lease and the sub-lease separately. It assesses the lease classification of a sub-lease with reference to the right-of-use asset arising from the head lease. If a head lease is a short-term lease to which the Group applies the exemption described above, then it classifies the sub-lease as an operating lease.

If an arrangement contains lease and non-lease components, the Group applies IFRS15 to allocate the consideration in the contract.

The Group recognizes a finance lease receivable at an amount equal to its net investment in the lease. Initial direct costs, such as lessors to negotiate and arrange a lease, are included in the measurement of the net investment. The interest income is recognized over the lease term based on a pattern reflecting a constant periodic rate of return on the net investment in the lease. The Group recognizes lease payments received under operating leases as income on a straight-line basis over the lease term as part of 'other income'.

(1) Intangible assets

(i) Recognition and measurement

Expenditure on research activities is recognized in profit or loss as incurred.

Development expenditure is capitalized only if the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Group intends to, and has sufficient resources to, complete development and to use or sell the asset. Otherwise, it is recognized in profit or loss as incurred. Subsequent to initial recognition, development expenditure is measured at cost, less accumulated amortization and any accumulated impairment losses.

Other intangible assets that are acquired by the Group and have finite useful lives are measured at cost less accumulated amortization and any accumulated impairment losses.

(ii) Subsequent expenditure

Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(iii) Amortization

Amortization is calculated over the cost of the asset, less its residual value, and is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill, from the date that they are available for use.

The estimated useful lives for current and comparative periods are as follows:

1) Computer software 5~10 years

Amortization methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.

(m) Impairment of non-financial assets

At each reporting date, the Group reviews the carrying amounts of its non-financial assets (other than inventories, and deferred tax assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated.

For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or cash-generating units (CGUs). Goodwill arising from a business combination is allocated to CGUs or groups of CGUs that are expected to benefit from the synergies of the combination.

The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. Value in use is based on the estimated future cash flows, discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU.

An impairment loss is recognized if the carrying amount of an asset or CGU exceeds its recoverable amount.

Impairment losses are recognized in profit or loss. They are allocated first to reduce the carrying amount of any goodwill allocated to the CGU, and then to reduce the carrying amounts of the other assets in the CGU on a pro rata basis.

An impairment loss in respect of goodwill is not reversed. For other assets, an impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized.

(n) Provisions

A provision is recognized if, as a result of a past event, the Group has a present obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(i) Carbon fee

Carbon fee levied in accordance with Taiwan’s Climate Change Response Act and Regulations Governing the Collection of Carbon Fees are recognized when the annual greenhouse gas emissions are probably to exceed the threshold. The provision for the carbon fee is measured based on the volume of greenhouse gas emissions incurred that exceeds the statutory threshold, using the rate expected to be applied, during the reporting period.

(o) Revenue recognition

Revenue from contracts with customers

Revenue is measured based on the consideration to which the Group expects to be entitled in exchange for transferring goods or services to a customer. The Group recognizes revenue when it satisfies a performance obligation by transferring control of a good or a service to a customer. The accounting policies for the Group’s main types of revenue are explained below:

(i) Sale of goods

The Group design, manufacture and sale PCB. The Group recognizes revenue when control of the products has transferred, being when the products are delivered to the customer, the customer has full discretion over the channel and price to sell the products, and there is no unfulfilled obligation that could affect the customer’s acceptance of the products. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred to the customer, and either the customer has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed, or the Group has objective evidence that all criteria for acceptance have been satisfied.

A receivable is recognized when the goods are delivered as this is the point in time that the Group has a right to an amount of consideration that is unconditional.

(ii) Financing components

The Group does not expect to have any contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. As a consequence, the group does not adjust any of the transaction prices for the time value of money.

(p) Government grants

The Group recognizes an unconditional government grant related to a salary and operations in profit or loss as operating revenue when the grant becomes receivable. Grants that compensate the Group for expenses or losses incurred are recognized in profit or loss on a systematic basis in the periods in which the expenses or losses are recognized.

(q) Employee benefits

(i) Defined contribution plans

Obligations for contributions to defined contribution plans are expensed as the related service is provided.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(ii) Defined benefit plans

The Group’s net obligation in respect of defined benefit plans is calculated separately for each the plan by estimating the amount of future benefit that employees have earned in the current and prior periods, discounting that amount and deducting the fair value of any plan assets.

The calculation of defined benefit obligations is performed annually by a qualified actuary using the projected unit credit method. When the calculation results in a potential asset for the Group, the recognized asset is limited to the present value of economic benefits available in the form of any future refunds from the plan or reductions in future contributions to the plan. To calculate the present value of economic benefits, consideration is given to any applicable minimum funding requirements.

Remeasurements of the net defined benefit liability, which comprise actuarial gains and losses, the return on plan assets (excluding interest) and the effect of the asset ceiling (if any, excluding interest), are recognized immediately in other comprehensive income, and accumulated in retained earnings within equity. The Group determines the net interest expense (income) on the net defined benefit liability (asset) for the period by applying the discount rate used to measure the defined benefit obligation at the beginning of the annual period to the then-net defined benefit liability (asset). Net interest expense and other expenses related to defined benefit plans are recognized in profit or loss.

When the benefits of a plan are changed or when a plan is curtailed, the resulting change in benefit that relates to past service or the gain or loss on curtailment is recognized immediately in profit or loss. The Group recognizes gains and losses on the settlement of a defined benefit plan when the settlement occurs.

(iii) Short-term employee benefits

Short-term employee benefits are expensed as the related service is provided. A liability is recognized for the amount expected to be paid if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably.

(r) Share-based payment

The grant-date fair value of equity-settled share-based payment arrangements granted to employees is generally recognized as an expense, with a corresponding increase in equity, over the vesting period of the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market performance conditions are expected to be met, such that the amount ultimately recognized is based on the number of awards that meet the related service and non-market performance conditions at the vesting date.

For share-based payment awards with non-vesting conditions, the grant-date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

The fair value of the amount payable to employees in respect of share appreciation rights, which are settled in cash, is recognized as an expense with a corresponding increase in liabilities, over the period during which the employees become unconditionally entitled to payment. The liability is remeasured at each reporting date and at settlement date based on the fair value of the share appreciation rights. Any changes in the liability are recognized in profit or loss. The grant-date for stock-based compensation of the Group is the date on which the board of directors approves the subscription price and authorizes the employees to receive stock options.

(s) Income taxes

Income taxes comprise current taxes and deferred taxes. Except for expenses related to business combinations or recognized directly in equity or other comprehensive income, all current and deferred taxes are recognized in profit or loss.

Current taxes comprise the expected tax payables or receivables on the taxable profits (losses) for the year and any adjustment to the tax payable or receivable in respect of previous years. The amount of current tax payables or receivables are the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes. It is measured using tax rates enacted or substantively enacted at the reporting date.

Deferred taxes arise due to temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their respective tax bases. Deferred taxes are recognized except for the following:

(i) Temporary differences on the initial recognition of assets and liabilities in a transaction that is not a business combination and at the time of the transaction (i) affects neither accounting nor taxable profits (losses) and (ii) does not give rise to equal taxable and deductible temporary differences;

(ii) Temporary differences related to investments in subsidiaries, associates and joint arrangements to the extent that the Group is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future; and

(iii) Taxable temporary differences arising on the initial recognition of goodwill.

Deferred tax assets are recognized for the carry forward of unused tax losses, unused tax credits, and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefits will be realized.

Deferred taxes are measured at tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date.

Deferred tax assets and liabilities are offset if the following criteria are met:

(i) the Group has a legally enforceable right to set off current tax assets against current tax liabilities; and

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(ii) the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on either:

1) the same taxable entity; or
2) different taxable entities which intend to settle current tax assets and liabilities on a net basis, or to realize the assets and liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered.

(t) Earnings per share

The Group discloses the Company's basic and diluted earnings per share attributable to ordinary shareholders of the Company. Basic earnings per share is calculated as the profit attributable to ordinary shareholders of the Company divided by the weighted average number of ordinary shares outstanding. Diluted earnings per share is calculated as the profit attributable to ordinary shareholders of the Company divided by the weighted average number of ordinary shares outstanding after adjustment for the effects of all potentially dilutive ordinary shares, such as employee compensation.

(u) Operating segments

An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the Group). Operating results of the operating segment are regularly reviewed by the Group's chief operating decision maker to make decisions about resources to be allocated to the segment and to assess its performance. Each operating segment consists of standalone financial information.

(5) Significant accounting assumptions and judgments, and major sources of estimation uncertainty:

In preparing these consolidated financial statements, management has made judgments and estimates about the future, including climate-related risks and opportunities, that affect the application of the accounting policies and the reported amount of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis and are consistent with the Group's risk management and climate-related commitments where appropriate. Revisions to estimates are recognized prospectively in the period of the change and future periods.

Information about judgments made in applying accounting policies that have the most significant effects on the amounts recognized in the consolidated financial statements is as follows:

Judgement of whether the Group has substantive control over its investees

The Group holds 10.37% of the outstanding voting shares of Fulltech Fiber Glass Corp. and is the single largest shareholder of the investee. Although the remaining 89.63% of Fulltech Fiber Glass Corp.'s shares are not concentrated within specific shareholders, the Group still cannot obtain more than half of the total number of Fulltech Fiber Glass Corp.'s directors, and it also cannot obtain more than half of the voting rights at a shareholders' meeting. Therefore, it is determined that the Group has significant influence on Fulltech Fiber Glass Corp.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next financial year is as follows:

Evaluation of inventories

Since inventory must be measured at the lower of cost and net realizable value, the Group assesses the amount of inventory due to normal wear and tear, obsolescence, or no market sales value on the reporting date, and offsets the inventory cost to net realizable value. This inventory evaluation is mainly based on the estimated product demand in a specific period in the future, so there may be major changes due to rapid changes in the industry. Please note 6(e) for detailed inventory evaluation and estimation.

The Group’s accounting policies include measuring financial and non-financial assets and liabilities at fair value. The Group has established an internal control framework with respect to the measurement of fair value and regularly reviews significant unobservable inputs and valuation adjustments. If third-party information, such as broker quotes or pricing services, is used to measure fair value, then the Group assessed the evidence obtained from the third parties to support the conclusion that such valuations meet the requirements of IFRSs, including the level in the fair value hierarchy in which such valuations should be classified.

The Group strives to use market observable inputs when measuring assets and liabilities. Different levels of the fair value hierarchy to be used in determining the fair value of financial instruments are as follows:

(a) Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.
(b) Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).
(c) Level 3: inputs for the assets or liability that are not based on observable market data.

For any transfer within the fair value hierarchy, the impact of the transfer is recognized on the reporting date. Please refer to note 6(v) for assumptions used in measuring fair value.

(6) Explanation of significant accounts

(a) Cash and cash equivalents

	December 31, 2025	December 31, 2024
Cash in stock	$ 2,609	2,344
Bank deposits	721,121	988,533
Time deposits	182,294	98,355
	$ 906,024	1,089,232

Please refer to note 6(v) for the interest rate risk and sensitivity analysis of the financial assets and liabilities of the Group.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(b) Financial assets at fair value through profit or loss

	December 31, 2025	December 31, 2024
Mandatorily measured at fair value through profit or loss:
Non-derivative financial assets
Open End Funds	$ 23,102	22,759

For the years ended December 31, 2025 and 2024, the net profit of the financial assets at fair value through profit or loss of the Group were $343 thousand and $278 thousand, respectively, recognized as other gains and losses.

As of December 31, 2025 and 2024, the financial assets at fair value through profit or loss of the Group had not been pledged.

	December 31, 2025	December 31, 2024
Domestic listed common shares	$ 217,522	295,830
Domestic unlisted common shares	93,015	109,782
	$ 310,537	405,612

(i) Equity investments at fair value through other comprehensive income

The Group designated the investments shown above as equity securities at fair value through other comprehensive income because these equity securities represent those investments that the Group intends to hold for long-term strategic purposes.

There were no disposals of strategic investments and transfers of any cumulative gain or loss within equity relating to these investments for the years ended December 31, 2025 and 2024.

(ii) For credit risk and market risk, please refer to note 6(v).

(iii) As of December 31, 2025 and 2024, the financial assets at fair value through other comprehensive income of the Group had not been pledged.

(d) Notes and accounts receivable

	December 31, 2025	December 31, 2024
Notes receivable	$ 72,563	25,804
Accounts receivable	3,867,248	4,792,286
Less: Loss allowance	(22,886)	(24,059)
	$ 3,916,925	4,794,031

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

The Group applies the simplified approach to provide for its expected credit losses, i.e. the use of lifetime expected loss provision for all notes and accounts receivable. To measure the expected credit losses, notes and accounts receivable have been grouped based on shared credit risk characteristics and the days past due, as well as the incorporated forward-looking information, including that of macroeconomic and relevant industry information. The loss allowance provisions were determined as follows:

	December 31, 2025
	Gross carrying amount	Weighted-average loss rate	Loss allowance provision
Current	$ 3,734,686	0.04%	1,623
1 to 90 days past due	183,381	1.23%	2,247
91 to 180 days past due	3,907	36.17%	1,413
More than 181 days past due	17,837	98.69%	17,603
	$ 3,939,811		22,886
	December 31, 2024
	Gross carrying amount	Weighted-average loss rate	Loss allowance provision
Current	$ 4,460,652	0.03%	1,554
1 to 90 days past due	331,125	1.05%	3,464
91 to 180 days past due	9,359	22.97%	2,150
More than 181 days past due	16,954	99.63%	16,891
	$ 4,818,090		24,059

The movement in the allowance for notes and accounts receivable were as follows:

	For the years ended December 31
	2025	2024
Balance at January 1	$ 24,059	12,529
Impairment losses recognized	-	12,532
Impairment losses reversed	(586)	-
Amounts written off	(587)	(1,004)
Effect of exchange rate changes	-	2
Balance at December 31	$ 22,886	24,059

As of December 31, 2025 and 2024, notes and accounts receivable of the Group had not been pledged.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(e) Inventories

	December 31, 2025	December 31, 2024
Raw materials and supplies	$ 424,782	380,769
Work in progress	1,487,034	1,408,547
Finished goods	731,752	576,465
Merchandise inventory	500,438	330,087
	3,144,006	2,695,868
Allowance to reduce inventory to market value	(150,804)	(142,194)
	$ 2,993,202	2,553,674

For the years ended December 31, 2025 and 2024, the Group recognized the cost of sales of $14,319,908 thousand and $15,465,476 thousand, respectively.

The details of the cost of sales were as follow:

	2025	2024
Write-down of inventories (Reversal of write-downs)	$ 9,094	(38,634)
Revenue from sales of scraps	(497,360)	(476,482)
	$ (488,266)	(515,116)

As of December 31, 2025 and 2024, inventories of the Group had not been pledged.

(f) Investments accounted for using equity method

A summary of the Group’s financial information for investments accounted for using the equity method at the reporting date were as follows:

	December 31, 2025	December 31, 2024
Associates	$ 1,348,236	947,830

(i) Associates

The Group’s financial information for investments accounted for using equity method that were individually insignificant were as follows:

	December 31, 2025	December 31, 2024
Carrying amount of individually insignificant associates’ equity	$ 1,348,236	947,830

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

	2025	2024
Attributable to the Group:
Gain from continuing operations	$ 99,078	5,070
Other comprehensive income	(12,562)	4,487
Comprehensive income	$ 86,516	9,557

(ii) Guarantee

As of December 31, 2025 and 2024, investments accounted for using equity method of the Group had been pledged as collateral. Please refer to note 8.

(g) Property, plant, and equipment

The cost, depreciation and impairment of the property, plant and equipment of the Group for the years ended December 31, 2025 and 2024, were as follows:

	Land	Buildings and constructions	Machinery equipment	Office facilities	Other facilities	Testing equipment	Construction in progress	Total
Cost or deemed cost:
Balance at January 1, 2025	$ 1,576,977	6,024,648	15,059,867	363,895	4,949,582	203,561	831,755	29,010,285
Additions	-	-	-	69	2,825	-	401,264	404,158
Disposals	(37,529)	(7,934)	(543,862)	(9,105)	(8,518)	-	-	(606,948)
Reclassification	20,477	16,622	330,302	29,801	113,020	61,263	1,045,922	1,617,407
Effect of movements in exchange rates	8,573	(69,445)	(50,487)	(49)	234	-	65,473	(45,701)
Balance at December 31, 2025	$ 1,568,498	5,963,891	14,795,820	384,611	5,057,143	264,824	2,344,414	30,379,201
Balance at January 1, 2024	$ 573,925	5,806,011	15,005,001	344,879	4,898,064	279,688	161,811	27,069,379
Additions	-	-	-	28	1,379	-	814,469	815,876
Disposals	-	-	(419,430)	(4,146)	(8,944)	-	-	(432,520)
Reclassification	990,331	43,077	339,800	22,506	58,254	(76,127)	(175,863)	1,201,978
Effect of movements in exchange rates	12,721	175,560	134,496	628	829	-	31,338	355,572
Balance at December 31, 2024	$ 1,576,977	6,024,648	15,059,867	363,895	4,949,582	203,561	831,755	29,010,285
Depreciation and impairments loss:
Balance at January 1, 2025	$ -	1,362,967	10,672,000	303,725	4,089,551	-	-	16,428,243
Depreciation	-	224,007	876,482	20,328	231,357	-	-	1,352,174
Disposals	-	(1,691)	(480,406)	(9,085)	(7,880)	-	-	(499,062)
Effect of movements in exchange rates	-	(5,914)	(8,295)	(122)	(217)	-	-	(14,548)
Balance at December 31, 2025	$ -	1,579,369	11,059,781	314,846	4,312,811	-	-	17,266,807
Balance at January 1, 2024	$ -	1,105,916	10,124,272	285,527	3,843,022	-	-	15,358,737
Depreciation	-	232,671	902,203	21,849	253,731	-	-	1,410,454
Disposals	-	-	(388,512)	(4,026)	(7,730)	-	-	(400,268)
Reclassification	-	-	(709)	-	-	-	-	(709)
Effect of movements in exchange rates	-	24,380	34,746	375	528	-	-	60,029
Balance at December 31, 2024	$ -	1,362,967	10,672,000	303,725	4,089,551	-	-	16,428,243
Carrying Value:
Balance at December 31, 2025	$ 1,568,498	4,384,522	3,736,039	69,765	744,332	264,824	2,344,414	13,112,394
Balance at January 1, 2024	$ 573,925	4,700,095	4,880,729	59,352	1,055,042	279,688	161,811	11,710,642
Balance at December 31, 2024	$ 1,576,977	4,661,681	4,387,867	60,170	860,031	203,561	831,755	12,582,042

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(i) Guarantee

As of December 31, 2025 and 2024, the property, plant and equipment of the Group had been pledged as collateral for short-term and long-term borrowings and credit lines. Please refer to note 8.

(ii) Acquisition of machinery and equipment

For the years ended December 31, 2025 and 2024, the information of the Group acquisition of machinery and equipment were as below:

	2025	2024
Capitalization interest rate	2.47%~3.78%	2.30%~4.59%
Capitalized borrowing cost	$ 25,872	15,366

(h) Right-of-use-assets

The Group leases assets including land, buildings and constructions, office facilities and transportation facilities. Information on leases for which the Group as a lessee is represented below:

	Land	Buildings and constructions	Office facilities	Transportation facilities	Other assets	Total
Cost:
Balance at January 1, 2025	$ 152,760	63,393	4,645	52,085	28,398	301,281
Additions	-	13,027	9,192	1,350	7,297	30,866
Disposals	-	(41,387)	(2,764)	(6,409)	(1,360)	(51,920)
Effect of movements in exchange rates	(2,989)	-	-	-	34	(2,955)
Balance at December 31, 2025	$ 149,771	35,033	11,073	47,026	34,369	277,272
Balance at January 1, 2024	$ 415,164	67,669	16,888	55,350	34,343	589,414
Additions	630,696	5,915	1,724	12,673	8,187	659,195
Disposals	(900,656)	(10,191)	(13,967)	(15,938)	(14,132)	(954,884)
Effect of movements in exchange rates	7,556	-	-	-	-	7,556
Balance at December 31, 2024	$ 152,760	63,393	4,645	52,085	28,398	301,281
Accumulated depreciation:
Balance at January 1, 2025	$ 19,859	38,108	3,288	26,203	8,472	95,930
Depreciation	2,900	31,395	3,614	11,304	7,232	56,445
Disposals	-	(41,387)	(2,764)	(6,169)	(1,360)	(51,680)
Effect of movements in exchange rates	(293)	-	-	-	2	(291)
Balance at December 31, 2025	$ 22,466	28,116	4,138	31,338	14,346	100,404
Balance at January 1, 2024	$ 148,395	13,772	12,544	30,180	15,344	220,235
Depreciation	2,985	29,954	4,451	11,421	7,260	56,071
Disposals	(132,422)	(5,618)	(13,707)	(15,398)	(14,132)	(181,277)
Effect of movements in exchange rates	901	-	-	-	-	901
Balance at December 31, 2024	$ 19,859	38,108	3,288	26,203	8,472	95,930

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

	Land	Buildings and constructions	Office facilities	Transportation facilities	Other assets	Total
Carrying amount:
Balance at December 31, 2025	$ 127,305	6,917	6,935	15,688	20,023	176,868
Balance at January 1, 2024	$ 266,769	53,897	4,344	25,170	18,999	369,179
Balance at December 31, 2024	$ 132,901	25,285	1,357	25,882	19,926	205,351

As of December 31, 2025, the right-of-use-assets of the Group had been pledged as collateral for long-term borrowings and credit lines. Please refer to note 8. No right-of-use-assets were pledged as collateral as of December 31, 2024.

(i) Intangible assets

The information on movement of the intangible assets of the Group for the years ended December 31, 2025 and 2024, was as follows:

	Computer Software
Costs:
Balance at January 1, 2025	$ 205,127
Additions	16,133
Disposals	(6,271)
Effect of movement in exchange rates	9
Balance at December 31, 2025	$ 214,998
Balance at January 1, 2024	$ 201,702
Additions	6,821
Disposals	(3,396)
Balance at December 31, 2024	$ 205,127
Accumulated amortization:
Balance at January 1, 2025	$ 102,294
Amortization	27,774
Disposals	(6,271)
Effect of movement in exchange rates	(1)
Balance at December 31, 2025	$ 123,796
Balance at January 1, 2024	$ 78,218
Amortization	27,472
Disposals	(3,396)
Balance at December 31, 2024	$ 102,294
Carrying amount:
Balance at December 31, 2025	$ 91,202
Balance at January 1, 2024	$ 123,484
Balance at December 31, 2024	$ 102,833

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(i) Amortization

The amortization of intangible assets recognized in the consolidated statement of comprehensive income for the years ended December 31, 2025 and 2024 was as follows:

	2025	2024
Operating cost	$ 3,286	4,530
Operating expense	$ 24,488	22,942

(j) Short-term borrowings

The short-term borrowings were summarized as follows:

	December 31, 2025	December 31, 2024
Unsecured bank loans	$ 1,351,926	2,260,055
Secured bank loans	567,894	10
Total	$ 1,919,820	2,260,065
Unused short-term credit lines	$ 6,217,327	4,824,464
Range of interest rates	1.85%~2.80%	2.02%~3.79%

For the collateral for short-term borrowings, please refer to note 8.

(k) Other payables

The other payables were summarized as follows:

	December 31, 2025	December 31, 2024
Expense payables	$ 301,532	281,812
Salary payables	511,609	611,358
Equipment payables	1,103,732	281,365
Others	175,770	252,034
Total	$ 2,092,643	1,426,569

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(l) Long-term borrowings

The long-term borrowings were summarized as follows:

	December 31, 2025
	Currency	Rate	Maturity year	Amount
Unsecured bank loans	TWD	1.90%~2.82%	2026~2031	$ 1,562,540
Unsecured bank loans	CNY	2.50%	2026	84,960
Secured bank loans	TWD	2.07%~2.71%	2026~2039	3,379,489
Secured bank loans	CNY	2.40%~3.20%	2026~2028	146,168
Less: current portion				(1,580,706)
Total				$ 3,592,451
Unused long-term credit lines				$ 3,025,636
	December 31, 2024
---	---	---	---	---
	Currency	Rate	Maturity year	Amount
Unsecured bank loans	TWD	2.42%~2.69%	2026~2027	$ 539,540
Secured bank loans	TWD	2.08%~2.71%	2026~2039	3,555,673
Less: current portion				(960,184)
Total				$ 3,135,029
Unused long-term credit lines				$ 2,200,000

(i) Collateral for long-term borrowings

For the collateral for long-term borrowings, please refer to note 8.

(ii) The details of loans were as follows:

1) The Group entered into a syndicated credit agreement (hereinafter referred to as syndicated credit agreement) with a consortium of financial institutions, with Taiwan Cooperative Bank as the lead bank, on March 28, 2025, wherein the principal are summarized below:

a) The consortium of financial institutions consists of (i) Taiwan Cooperative Bank (the lead bank and credit facility management), together with (ii) Land Bank of Taiwan and (iii) Taiwan Business Bank (referred to as the joint leading banks); as well as (iv) Agricultural Bank of Taiwan.

b) The total credit facility of NT$1.2 billion is to enhance the borrower’s medium-term working capital.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

c) The following are the credit duration, withdrawal period, and settlement method:

i) This credit duration: five years from the date of first withdrawn (includes a grace period of 36 months). The borrower must first make use of the funds six months prior to the expiration of the contract signing date; otherwise, the date shall be deemed to be the first draw up date.

ii) Withdrawal period of this credit:

a. Since it is a medium term loan, the credit facility of NT$1.2 billion may be withdrawn for multiple times and on a recurring basis.

iii) Settlement method:

a. To fully settle the principle of credit that has been withdrawn upon its expiration according to the credit period of each loan appropriated and to withdraw the outstanding principal balance on a recurring basis as agreed in this credit. When the outstanding principal balance is used on a recurring basis, the newly appropriated amount shall be directly paid for the portion already due.

The first period of credit limit reduction shall be the date thirty-six months from the date of first use. Thereafter, it shall be divided into three periods of twelve months each. In the first and second periods, the credit limit shall be reduced by 15% each, and in the third period, the credit limit shall be reduced by 70%.

b. In any situation, the Group shall fully settle all its outstanding principal, interests and other payables and expenses upon the expiration of this credit.

d) Under the syndicated credit agreement, the Group shall provide its audited annual consolidated financial statements during the credit period, as well as the consolidated financial statements for the first, second and third quarters as reviewed by its accountants. Restrictions rules on specific financial ratios, such as current ratio, debt ratio, interest protection multiplier, and equity, shall be calculated based on the consolidated annual financial statements audited by the accountants, and reviewed annually.

e) The above borrowings are provided by the Group, with promissory notes pledged as collateral and related parties acting as joint guarantors.

f) The Group made its first withdrawal on December 12, 2025.

The Group did not violate the above financial ratios and has complied with the relevant contract terms in 2025.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

2) The Group entered into a syndicated credit agreement (hereafter referred to as syndicated credit agreement) with a group of banks leading by Bank of Taiwan on March 27, 2023, the principal contents of which are summarized below:

a) The group of banks consists of:

Bank of Taiwan (leading bank, credit facility management bank and secured equity interest management bank), Changhwa Commercial Bank, Taiwan Business Bank, Taiwan Cooperative Bank, First Commercial Bank (the aforementioned banks are the joint leading banks), Land Bank of Taiwan, Mega International Commercial Bank, Taipei Fubon Commercial Bank, Bank SinoPac and The Shanghai Commercial & Savings Bank.

b) The total credit facility is NT$3.6 billion to meet the borrower’s repayment of existing financial institution liabilities and to enhance the borrower’s medium-term working capital.

c) The credit duration, the withdrawn period and the settlement method:

i) This credit duration: five years from the date of first withdrawn (of which credit A includes a grace period of 18 months). The first use of loan by borrower must be before May 20, 2023, otherwise that date shall be deemed to be the first draw up date.

ii) Withdrawn period of this credit:

a. Credit A: It is a medium term (secured) loan, and the credit facility amounted to NT$2.4 billion may be withdrawn for multiple times but not on a recurring basis. The withdrawn period of credit A is six months from its first withdrawn, and upon the expiry of the Credit A, the unused Credit A facility is automatically canceled and cannot be used again.

b. Credit B: It is a medium term loan, and the credit facility amounted to NT$1.2 billion may be withdrawn for multiple times and on a recurring basis.

iii) Settlement method:

a. Credit A: The first repayment date of this credit shall be the date on which 18 months have elapsed from first withdrawn date, and every six months thereafter shall be deemed as a repayment period, then the credit is amortized in total of eight installments. The principal balance of credit A outstanding at the expiration of withdrawn period shall be evenly repaid in each repayment date.

b. Credit B: To fully settle the principal of credit that has been withdrawn upon its expiration according to the credit period of each loan appropriated and to withdraw the outstanding principal balance on a recurring basis as agreed in this credit. When the outstanding principal balance is used on a recurring basis, the newly appropriated amount shall be able to directly pay for the portion already due.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

In any situation, the Group shall fully settle all its outstanding principal, interests and other payables and expenses upon the expiration of this credit.

iv) Under the syndicated credit agreement, the Group shall provide, during the credit period, the audited annual consolidated financial statements and the consolidated financial statements for the first, second and third quarters as reviewed by the accountants. Restrictions rules on specific financial ratios such as current ratio, debt ratio, interest protection multiplier and tangible net value shall be calculated based on the consolidated annual financial statements audited by the accountants. It shall be inspected one time per year or as often as the management Bank deems necessary.

v) The above borrowings are provided by the Group with promissory notes, machinery and equipment, factory and building as collateral for this credit case and the related parties are acting as joint guarantors.

vi) The Group made its first withdrawal on April 28, 2023.

The Group did not violate the above financial ratios and has complied with the relevant contract terms in 2025 and 2024.

(m) Lease liabilities

The carrying values of the Group’s lease liabilities were as follows:

	December 31, 2025	December 31, 2024
Current	$ 25,088	42,060
Non-current	$ 27,284	33,408

For the maturity analysis, please refer to note 6(v).

The amounts recognized in profit or loss were as follows:

	2025	2024
Interest on lease liabilities	$ 1,531	1,812
Expenses relating to leases of low value assets and short term leases	$ 13,581	12,444

The amounts recognized in the statement of cash flows for the Group were as follows:

	2025	2024
Total cash outflow for leases	$ 68,858	67,734

(i) Real estate leases

The Group leases land and buildings for its office space and employee accommodation. The leases of office space and employee accommodation typically run for two to ten years. Some leases include an option to renew the lease for an additional period of the same duration after the end of the contract term.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

The Group expects the relative proportions of fixed and variable lease payments to remain broadly consistent in future years.

(ii) Other leases

The Group leases office facilities and transportation facilities, with lease terms of one to four years. In some cases, the Group has options to purchase the assets at the end of the contract term; in other cases, it guarantees the residual value of the leased assets at the end of the contract term.

The Group also leases office facilities and parking space with lease terms of one to four years. These leases are short term or leases of low value items. The Group decides to apply recognition exemption, and has selected not to recognize right-of-use assets and lease liabilities for these leases.

(n) Employee benefits

(i) Defined benefit plans

Reconciliation of defined benefit obligation at present value and plan asset at fair value are as follows:

	December 31, 2025	December 31, 2024
Present value of the defined benefit obligations	$ 669,978	731,132
Fair value of plan assets	(572,948)	(573,324)
Net defined benefit liabilities	$ 97,030	157,808

The Group makes defined benefit plan contributions to the pension fund account with Bank of Taiwan that provides pensions for employees upon retirement. Plans (covered by the Labor Standards Law) entitle a retired employee to receive retirement benefits based on years of service and average monthly salary for the six months prior to retirement.

1) Composition of plan assets

The Group allocates pension funds in accordance with the Regulations for Revenues, Expenditures, Safeguard and Utilization of the Labor Retirement Fund, and such funds are managed by the Bureau of Labor Funds, Ministry of Labor. With regard to the utilization of the funds, minimum earnings shall be no less than the earnings attainable from two-year time deposits with interest rates offered by local banks.

The Group’s Bank of Taiwan labor pension reserve account balance amounted to $572,948 thousand and $573,324 thousand as of December 31, 2025 and 2024, respectively. For information on the utilization of the labor pension fund assets, including the asset allocation and yield of the fund, please refer to the website of the Bureau of Labor Funds, Ministry of Labor.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

2) Movements in present value of the defined benefit obligations

The movement in present value of the defined benefit obligations for the Group were as follows:

	2025	2024
Defined benefit obligations at January 1	$ 731,132	682,157
Current service costs and interest cost	17,085	15,603
Remeasurements:
— Actuarial loss arising from changes in financial assumptions	(8,620)	75,196
Benefits paid from plan assets	(69,619)	(41,824)
Defined benefit obligations at December 31	$ 669,978	731,132

3) Movements of defined benefit plan assets

The movements in the present value of the defined benefit plan assets for the Group were as follows:

	2025	2024
Fair value of plan assets at January 1	$ 573,324	540,194
Interest income	8,712	6,713
Remeasurements:
— Return on plan assets (excluding interest income)	40,752	47,987
Contributions from employer	19,779	20,254
Benefits paid from plan assets	(69,619)	(41,824)
Fair value of plan assets at December 31	$ 572,948	573,324

4) Movements of the effect of the asset ceiling

There were no movements in the number of impacts of the Group’s defined benefit plan asset ceiling in 2025 and 2024.

5) Expenses recognized in profit or loss

The expenses recognized in profit or loss for the Group were as follows:

	2025	2024
Current service costs	$ 6,147	7,264
Net interest of net liabilities for defined benefit obligations	2,226	1,626
	$ 8,373	8,890
	2025	2024
Operating cost	$ 1,671	2,007
Operating expense	6,702	6,883
	$ 8,373	8,890
		(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

6) Actuarial assumptions

The principal actuarial assumptions at the reporting date were as follows:

	December 31, 2025	December 31, 2025
Discount rate	1.2964%	1.4961%
Future salary increase rate	1.0000%	1.0000%

The expected allocation payment to be made by the Group to the defined benefit plans for the one-year period after the reporting date is $44,922 thousand.

The weighted average lifetime of the defined benefits plans is 9.05 years.

7) Sensitivity analysis

If the actuarial assumptions had changed, the impact on the present value of the defined benefit obligation shall be as follows:

	Influences of defined benefit obligations
	Increased 0.25%	Decreased 0.25%
December 31, 2025
Discount rate	(14,625)	15,102
Future salary increasing (decreasing) rate	14,954	(14,551)
December 31, 2024
Discount rate	(16,303)	16,851
Future salary increasing (decreasing) rate	16,717	(16,251)

Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown above. The method used in the sensitivity analysis is consistent with the calculation of pension liabilities in the balance sheets.

There is no change in the method and assumptions used in the preparation of sensitivity analysis for 2025 and 2024.

(ii) Defined contribution plans

The Company and DA TAI Investment allocated 6% of each employee's monthly wages to the labor pension personal account at the Bureau of Labor Insurance in accordance with the provisions of the Labor Pension Act. Under these defined contribution plans, the Company and DA TAI Investment allocated a fixed amount to the Bureau of Labor Insurance without additional legal or constructive obligation.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Under the defined contribution plans of both foreign subsidiaries, Shanghai Zhanhua and Shanghai Zhanhua (Nantong), both subsidiaries were required to contribute monthly certain amounts (as insurance) into their employees' independent personal pension accounts. The contributions to these plans were expensed as incurred.

The pension costs incurred from the contributions to both the Bureau of the Labor Insurance and employees' independent personal pension accounts of both foreign subsidiaries amounted to $220,959 thousand and $211,526 thousand for the years ended December 31, 2025 and 2024, respectively.

(o) Income tax

(i) Income tax expense

The Group of income tax expense were as follows:

	2025	2024
Current tax expense
Current period	$ 25,479	-
Adjustments for prior periods	-	759
	25,479	759
Deferred tax expense
Origination and reversal of temporary differences	21,799	37,518
Income tax expense	$ 47,278	38,277

(ii) Reconciliation of income tax expense and profit before tax for 2025 and 2024 was as follows:

	2025	2024
Profit excluding income tax	$ 531,728	1,626,067
Income tax using the Company’s domestic tax rate	106,346	325,213
Effect of tax rates in foreign jurisdiction	(51,462)	(57,161)
Tax-exempt income	(1,698)	(1,592)
Non deductible expenses	1,343	1,693
Prior-period tax adjustments	-	759
Recognition of previously unrecognized tax losses	(15,083)	(297,766)
Additional tax on undistributed earnings	25,479	-
Change in unrecognized temporary differences	1,455	(7,149)
Others	(19,102)	74,280
Income tax expense	$ 47,278	38,277

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(iii) Deferred tax assets and liabilities

1) Unrecognized deferred tax liabilities

The Group is able to control the timing of the reversal of the temporary differences associated with investments in subsidiaries as of December 31, 2025 and 2024. Also, management considers it probable that the temporary differences will not reverse in the foreseeable future. Hence, such temporary differences are not recognized under deferred tax liabilities. Details were as follows:

	December 31, 2025	December 31, 2024
Aggregate amount of temporary differences related to investments in subsidiaries	$ 2,051,395	1,810,251
Unrecognized deferred tax liabilities	$ 410,279	362,050

2) Unrecognized deferred tax assets

Deferred tax assets have not been recognized in respect of the following items:

	December 31, 2025	December 31, 2024
Tax effect of deductible temporary differences	$ 42,838	41,384
The carryforward of unused tax losses	123,457	133,258
	$ 166,295	174,642

The R.O.C. Income Tax Act allows net losses, as assessed by the tax authorities, to offset taxable income over a period of ten years for local tax reporting purposes.

Deferred tax assets have not been recognized in respect of these items because it is not probable that future taxable profit will be available against which the Group can utilize the benefits therefrom.

Since Shanghai Unitech Electronics (Nantong) Co., Ltd. met the requirements of high-tech enterprises that need support from the government according to "Enterprise Income Tax Law of the People's Republic of China", its tax losses have been reduced to 15% beginning from 2022 and were allowed to be carried forward its net losses to offset against its income over a period of five years.

As of December 31, 2025, the information of the Company's unused tax losses for which no deferred tax assets were recognized are as follows:

Year of loss	Unused tax loss	Expiry date
2021 (approved)	$ 1,132,584	2031
2023 (approved)	500,996	2033
	$ 1,633,580

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

3) Recognized deferred tax assets and liabilities

Changes in the amount of deferred tax assets and liabilities for 2025 and 2024 were as follows:

	Loss carryforward	Others	Total
Deferred Tax Assets:
Balance at January 1, 2025	$ 271,055	4,171	275,226
Recognized in profit or loss	(23,627)	272	(23,355)
Exchange Differences	(1,276)	(73)	(1,349)
Balance at December 31, 2025	$ 246,152	4,370	250,522
Balance at January 1, 2024	$ 286,866	15,794	302,660
Recognized in profit or loss	(18,000)	(11,842)	(29,842)
Exchange Differences	2,189	219	2,408
Balance at December 31, 2024	$ 271,055	4,171	275,226
	Land revalue added revaluation	Other	Total
Deferred tax liabilities:
Balance at January 1, 2025	$ 171,517	7,676	179,193
Recognized in profit or loss	-	(1,556)	(1,556)
Balance at December 31, 2025	$ 171,517	6,120	177,637
Balance at January 1, 2024	$ 171,517	-	171,517
Recognized in profit or loss	-	7,676	7,676
Balance at December 31, 2024	$ 171,517	7,676	179,193

(iv) The Group did not directly recognize any income tax in equity or other comprehensive income.
(v) The Company’s income tax returns had been examined by the tax authorities through the years to 2023.

(p) Capital and other equity

As of December 31, 2024, the number of authorized ordinary shares was 800,000 thousand shares, with a par value of $10 per share, amounting to $8,000,000 thousand. On June 17, 2025, the Company's shareholders' meeting resolved to increase the Company's registered authorized ordinary shares to 1,000,000 thousand shares, at the amount of $10,000,000 thousand, with a par value of $10 per share. For the years ended December 31, 2025 and 2024, 706,253 thousand and 709,407 thousand ordinary shares were issued, respectively, which were fully paid upon issuance.

(i) Ordinary shares

Based on a resolution decided during its board meeting held on August 13, 2024, the Company conducted a cash capital increase by issuing 40,000 thousand ordinary shares, at a par value of $10 per share, totaling $400,000 thousand, and an issuance price of $26 per share, on December 5, 2024, with the approval of the FSC. All issued shares had been fully paid, and the relevant statutory procedures were since been completed.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

In accordance with Article 267 of the Company Act, 10% of the newly issued shares, 4,000 thousand shares in total, were reserved for subscription by the Company’s employees. For share-based payment expenses arising from these employee-reserved shares, please refer to note 6(q).

Furthermore, according to the resolution decided during its board meeting held on August 12, 2025, the Company cancelled 3,154 thousand treasury shares, resulting in its outstanding shares to be 706,253 thousands as of December 31, 2025. For related information, please refer to Note 6(p)-4.

(ii) Capital surplus

The balances of capital surplus were as follows:

	December 31, 2025	December 31, 2024
Additional paid-in capital	$ 3,514,247	3,529,941
Changes in equity of investment in associates accounted for using equity method	524,677	180,874
Unclaimed cash dividend	1,029	790
Expired share options	6,712	6,712
	$ 4,046,665	3,718,317

According to the R.O.C. Company Act, capital surplus can only be used to offset a deficit, and only the realized capital surplus can be used to increase the common stock or be distributed as cash dividends. The aforementioned realized capital surplus includes capital surplus resulting from premium on issuance of capital stock and earnings from donated assets received. According to the Regulations Governing the Offering and Issuance of Securities by Securities Issuers, capital increases by transferring capital surplus in excess of par value should not exceed 10% of the total common stock outstanding.

(iii) Retained earnings

According to the Company’s Article, net earnings should be used to offset the prior year’s deficits, if any, before paying any income taxes. 10% of retained earnings will be as legal reserve. The rest of the amount and undistributed surplus will be allocated on the basis of the allocation plan proposed by the Board of Directors and submitted to stockholders for approval.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

In response to the Company’s business expansion needs and in alignment with its long-term financial planning to ensure sustainable operations and stable development, the Company adopts a Residual Dividend Policy, which is based on assessing the Company’s annual funding requirements derived from its future capital budget. Retained earnings are first used to satisfy the required funding, and only the remaining earnings will be distributed as dividends as follows: (1) After having determined an optimal capital budget. (2) After the amount of funding required to meet the capital budget have been identified. (3) After an assessment has been made as to how much of the required funding will be covered by retained earnings (any shortfall may be financed through cash capital increases or corporate bonds). (4) After retaining an appropriate amount of surplus for operational needs, with the probability of the entire remaining earnings to be distributed to shareholders. In determining future dividend distributions, the Company will consider its funding utilization and establish an appropriate ratio of cash dividends (which shall account for at least 50%) to stock dividends for the year.

1) Legal reserve

When a company incurs no loss, it may pursuant to a resolution by a shareholders’ meeting, distribute its legal reserve by issuing new shares or by distributing cash, and only the portion of legal reserve which exceeds 25% of capital may be distributed.

2) Special reserve

In accordance with the requirements issued by the FSC, a portion of earnings shall be allocated as special reserve during earnings distribution. An equivalent amount of special reserve shall be allocated from the net profit in the period and the undistributed prior period earnings. A portion of undistributed prior-period earnings shall be reclassified to special earnings reserve (and does not qualify for earnings distribution) to account for cumulative changes to the net reduction of other shareholders’ equity pertaining to prior periods. Amounts of subsequent reversals pertaining to the net reduction of other shareholders’ equity shall qualify for additional distributions.

3) Earnings distribution

The earnings distribution for 2024 was resolved by the general meeting of shareholders held on June 17, 2025, as follows:

	2024
	Amount per share	Total amount
Dividends distributed to ordinary shareholders:
Cash	$ 0.70	496,585

The earnings distribution for 2023 was resolved by the general meeting of shareholders held on June 26, 2024. There was no earnings distribution for the year ended December 31, 2023, due to the losses incurred by the Company.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(iv) Treasury shares

In 2025, in accordance with the requirements under section 28(2) of the Securities and Exchange Act, the Company repurchased 3,154 thousand treasury shares for $76,289 thousand in order to protect the Company’s integrity and shareholders’ equity.

Based on the resolution decided during its board meeting held on August 12, 2025, the Company cancelled 3,154 thousand treasury shares, wherein all relevant legal procedures had been completed on September 15, 2025.

(v) Other comprehensive income accumulated in reserves, net of tax

	Exchange differences on translation of foreign financial statements	Unrealized gains (losses) from financial assets measured at fair value through other comprehensive income	Gains (losses) on remeasurement of defined benefits plan	Unearned employee compensation	Total
Balance at January 1, 2025	$ 248,050	120,192	(264,987)	-	103,255
Exchange differences on foreign operations:
The Company	11,224	-	-	-	11,224
Associate	(4,380)	-	-	-	(4,380)
Unrealized gains (losses) from financial assets measured at fair value through other comprehensive income:
The Company	-	(78,308)	-	-	(78,308)
Subsidiary	-	(16,767)	-	-	(16,767)
Associate	-	(8,005)	-	-	(8,005)
Remeasurement of defined benefits plan:
The Company	-	-	49,372	-	49,372
Associate	-	-	(177)	-	(177)
Unearned employee compensation:
Associate	-	-	-	(29,913)	(29,913)
Balance at December 31, 2025	$ 254,894	17,112	(215,792)	(29,913)	26,301
Balance at January 1, 2024	$ (22,349)	178,921	(238,123)	-	(81,551)
Exchange differences on foreign operations:
The Company	257,501	-	-	-	257,501
Associate	12,898	-	-	-	12,898
Unrealized gains (losses) from financial assets measured at fair value through other comprehensive income:
The Company	-	(63,663)	-	-	(63,663)
Subsidiary	-	13,690	-	-	13,690
Associate	-	(8,756)	-	-	(8,756)
Remeasurement of defined benefits plan:
The Company	-	-	(27,209)	-	(27,209)
Associate	-	-	345	-	345
Balance at December 31, 2024	$ 248,050	120,192	(264,987)	-	103,255

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(q) Share-based payment

(i) The information on the Group’s share-based payment in 2024 is as follows:

	2024 First time Capital increase by cash reserved for employee share option
Grant date	2024.11.01
Granted amount (in thousand)	4,000
Contract period	-
Grantee	Employee
Vesting conditions	Immediacy

(ii) Information on the cash increase on employee stock option is as follows:

	2024 Share option amount (in thousand)
Outstanding amount at January 1	-
Current grant	4,000
Current vesting	(2,644)
Current expiry	(1,356)
Outstanding amount at December 31	-

(iii) Compensation cost

The Group recognized an operating expense of $19,800 thousand for capital increase by cash reserved for employee stock options for the year end December 31, 2024. There was no such transaction in 2025.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(r) Earnings per share

The calculation of basic earnings per share and diluted earning per share were as follow:

	2025	2024
Basic earnings per share:
Profit attributable to ordinary shareholders of the Company	$ 484,450	1,587,790
Weighted average number of ordinary shares (in thousand of shares)	707,516	672,358
	$ 0.68	2.36
Diluted earnings per share:
Profit attributable to ordinary shareholders of the Company	$ 484,450	1,587,790
Weighted average number of ordinary shares (basic) (in thousand of shares)	707,516	672,358
Effect of employee share bonus (in thousand of shares)	410	1,033
Weighted average number of ordinary shares (diluted) (in thousand of shares)	707,926	673,391
	$ 0.68	2.36

(s) Revenue from contracts with customers

(i) Details of revenue

	2025	2024
Major products / Services lines:
2 Layers	$ 255,329	251,187
4 Layers	1,302,506	1,588,954
6 Layers	2,330,346	2,649,264
8 Layers	4,376,149	5,418,869
More than 10 Layers	7,959,706	8,522,464
Others	22,255	101,260
	$ 16,246,291	18,531,998

(ii) Contract balances

	December 31, 2025	December 31, 2024	January 1, 2024
Notes receivable	$ 72,563	25,804	11,815
Accounts receivable	3,867,248	4,792,286	4,035,734
Less: loss allowance	(22,886)	(24,059)	(12,529)
	$ 3,916,925	4,794,031	4,035,020

Please refer to note 6(d) for the disclosure of notes and accounts receivable and their impairment.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(t) Employee compensation and directors’ remuneration

On June 17, 2025, the Company resolved at its shareholders’ meeting to amend its Articles of Incorporation. Under the revised articles, if the Company incurs profit for the year, the profit should first be used to offset against any accumulated deficits. Thereafter, 1% to 5% of the profit before tax shall be appropriated as employee remuneration (of which, a minimum of 20% shall be reserved specifically for base-level employees). Moreover, a maximum of 3% of the remaining profit shall be appropriated as remunerations to directors and supervisors.

Under the Articles of Incorporation prior to the amendment, if the Company incurs profit for the year, the profit should first be used to offset against any accumulated deficits. Thereafter, 1% to 5% of the profit before tax shall be appropriated as employee remuneration. Moreover, a maximum of 3% of the remaining profit shall be appropriated as remunerations to directors and supervisors.

For the years ended December 31, 2025 and 2024, the Company estimated its employee remuneration amounting to $10,000 thousand and $34,000 thousand, and directors' and supervisors' remuneration amounting to $5,000 thousand and $17,000 thousand, respectively. These amounts were calculated using the Company’s pre tax income for each period before deducting the remunerations of employees and directors, multiplied by the proposed percentages of remunerations of employees, directors, and supervisors as stated in the Company’s Articles of Incorporation. These remunerations were expensed under operating expenses for the period. If there are any subsequent adjustments to the actual remuneration amounts after the annual shareholders’ meeting, the adjustments will be regarded as changes in accounting estimates and will be reflected in profit or loss in the following year.

The difference between the estimated and the actual amounts in 2024 was $1,333 thousand, which was recognized in profit or loss in 2025. Related information would be available at the Market Observation Post System website.

(u) Non-operating income and expenses

(i) Interest income

The details of interest income were as follows:

	2025	2024
Interest income from bank deposits	$ 25,359	34,396
Other interest income	229	645
	$ 25,588	35,041

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(ii) Other income

The details of other income were as follows:

	2025	2024
Compensation income	$ 13,609	18,680
Design income	55,358	37,530
Subsidy	76,020	35,137
Dividend income	8,490	7,959
Other income	18,338	29,890
	$ 171,815	129,196

In 2021, Shanghai Unitech Electronics Co., Ltd. and Unitech Electronics HK International Limited entered into an investment agreement with the Administrative Committee of Nantong High-tech Industrial Development Zone to expand the production capacity of Shanghai Unitech Electronics (Nantong) Co., Ltd. The agreement stipulates that 50% of the compensation will be paid upon basic plant acceptance, 30% upon timely completion acceptance, and the remaining 20% upon achieving, by December 31, 2025, the total project investment of at least USD450 million, the equipment investment of at least USD150 million, the annual taxable sales of approximately CNY1.5 billion (±5%), as well as the minimum annual tax contributions of CNY 100 million.

As of December 31, 2025, the Company had completed both basic and completion acceptance and received 80% of the total compensation. It also recognized the government grant income of $62,766 thousand (CNY14,500 thousand) and $14,370 thousand (CNY3,225 thousand) in 2025 and 2024, respectively.

(iii) Other gains and losses

The details of other gains and losses were as follows:

	2025	2024
Foreign exchange gains	$ (101,140)	173,700
Gains on lease modification	8	4
Net gains on financial assets at fair value through profit or loss	343	278
Gains (losses) on disposals of property, plant and equipment	29,420	(23,105)
Miscellaneous disbursements	(4,534)	(22,721)
	$ (75,903)	128,156

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(iv) Financial costs

The details of finance costs were as follows:

	2025	2024
Interest expense on borrowings	$ 168,850	243,110
Handling fee	230	508
Interest expense on lease liabilities	1,531	1,812
Other	-	11
Less: interest capitalization	(25,872)	(15,366)
	$ 144,739	230,075

(v) Financial instruments

(i) Credit risk

1) Credit risk exposure

The carrying amount of financial assets represents the maximum amount exposed to credit risk.

2) Concentration of Credit risk

The Group has a large customer base, it has not concentrated on transactions with a single customer. Therefore, there was no concentration of credit risk in its trade receivables. To minimize credit risk, the Group periodically evaluates the customers' financial positions.

(ii) Liquidity risk

The following table shows the contractual maturities of financial liabilities, including estimated interest payments and excluding the impact of netting agreements.

	Carrying amount	Contractual cash flows	Within 12 months	1-5 years	Over 5 years
December 31, 2025
Non-derivative financial liabilities
Short-term borrowings	$ 1,919,820	1,938,936	1,938,936	-	-
Accounts payable	2,370,064	2,370,064	2,370,064	-	-
Other payables	2,092,643	2,092,643	2,092,643	-	-
Leases liabilities	52,372	53,336	25,396	27,940	-
Current portion of long-term borrowings	1,580,706	1,602,354	1,602,354	-	-
Long-term borrowings	3,592,451	3,829,044	87,621	3,435,835	305,588
Guarantee deposits received	22,117	22,117	22,117	-	-
	$ 11,630,173	11,908,494	8,139,131	3,463,775	305,588

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

	Carrying amount	Contractual cash flows	Within 12 months	1-5 years	Over 5 years
December 31, 2024
Non-derivative financial liabilities
Short-term borrowings	$ 2,260,065	2,295,587	2,295,587	-	-
Accounts payable	2,425,289	2,425,289	2,425,289	-	-
Other payables	1,426,569	1,426,569	1,426,569	-	-
Leases liabilities	75,468	76,619	42,905	33,714	-
Current portion of long-term borrowings	960,184	973,870	973,870	-	-
Long-term borrowings	3,135,029	3,340,442	79,394	3,029,912	231,136
Guarantee deposits received	30,990	30,990	30,990	-	-
	$ 10,313,594	10,569,366	7,274,604	3,063,626	231,136

The Group does not expect the cash flows included in the maturity analysis to occur significantly earlier or at significantly different amounts.

(iii) Currency risk

1) Exposure to foreign currency risk

The Group’s significant exposure to foreign currency risk were as follows:

	December 31, 2025			December 31, 2024
	Foreign currency	Exchange rate	TWD	Foreign currency	Exchange rate	TWD
Financial assets:
Monetary items
USD	$ 164,885 USD/TWD	31.430	5,182,340	191,112 USD/TWD	32.785	6,265,601
CNY	36,256 CNY/TWD	4.500	163,007	56,177 CNY/NTD	4.478	251,561
THB	77,795 THB/TWD	1.002	77,942	303 THB/TWD	0.969	291
Financial liabilities:
Monetary items
USD	$ 80,264 USD/TWD	31.430	2,522,709	69,497 USD/TWD	32.785	2,278,460
CNY	42,315 CNY/TWD	4.500	190,246	18,825 CNY/TWD	4.478	84,298
THB	125 THB/TWD	1.002	125	31 THB/TWD	0.969	30

2) Sensitivity analysis

The Group’s exposure to foreign currency risk arises from the translation of the foreign currency exchange gains and losses on cash and cash equivalents, accounts receivable and other receivables, accounts payable and other payables that are denominated in foreign currency. A weakening (strengthening) of 1% of the NTD against the USD and CNY as of December 31, 2025 and 2024, the net profit before tax in 2025 and 2024 would have increased (decreased) by $27,102 thousand and $41,547 thousand, respectively. The analysis assumes that all other variables remain constant.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

3) Foreign exchange gain and loss on monetary items

Since the Group has many kinds of functional currency, the information on foreign exchange gain or loss on monetary items is disclosed by total amount. For the years ended December 31, 2025 and 2024, foreign exchange (loss) gain (including realized and unrealized portions) amounted to $(101,140) thousand and $173,700 thousand, respectively.

(iv) Interest rate risk

Please refer to the notes on liquidity risk management and interest rate exposure of the Group’s financial assets and liabilities.

The following sensitivity analysis is based on the exposure to the interest rate risk of derivative and non derivative financial instruments on the reporting date. Regarding assets with variable interest rates, the analysis is based on the assumption that the amount of assets outstanding at the reporting date was outstanding throughout the year. The rate of change is expressed as the interest rate increases or decreases by 1% when reporting to management internally, which also represents the Group management’s assessment of the reasonably possible interest rate change.

If the interest rate had increased or decreased by 1%, the Group’s net profit before tax would have decreased or increased by $61,728 thousand and $52,516 thousand for the years ended December 31, 2025 and 2024 with all other variable factors remaining constant. This was mainly due to the Group’s deposits and borrowings at variable rates.

(v) Other market price risk

For the years ended December 31, 2025 and 2024, the sensitivity analyses for the changes in the securities price at the reporting date were performed using the same basis for the profit and loss as illustrated below:

	2025	2024
Prices of securities at the reporting date	Other comprehensive income after tax	Other comprehensive income after tax
Increasing 1%	$ 3,105	4,056
Decreasing 1%	$ (3,105)	(4,056)

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(vi) Fair value of financial instruments

1) Fair value hierarchy

The fair value of financial assets at fair value through profit or loss and financial assets at fair value through other comprehensive income is measured on a recurring basis. The carrying amount and fair value of the Group’s financial assets and liabilities, including the information on fair value hierarchy were as follows; however, except as described in the following paragraphs, for financial instruments not measured at fair value whose carrying amount is reasonably close to the fair value, and lease liabilities, disclosure of fair value information is not required:

	December 31, 2025
	Book Value	Level 1	Level 2	Level 3	Total
Financial assets at fair value through profit or loss	$ 23,102	23,102	-	-	23,102
Financial assets at fair value through other comprehensive income	$ 310,537	217,522	-	93,015	310,537
Financial assets measured at amortized cost
Cash and cash equivalents	$ 906,024
Notes receivable, net	72,563
Accounts receivable, net	3,844,362
Other receivables	136,978
Other receivables-related parties	666
Other financial asset-current	47,240
Refundable deposits	37,945
Subtotal	$ 5,045,778
Financial liabilities measured at amortized cost
Borrowings	$ 7,092,977
Accounts payable	2,370,064
Other payables	2,092,643
Lease liabilities	52,372
Guarantee deposits received	22,117
Subtotal	$ 11,630,173

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

	December 31, 2024
	Book Value	Fair value
		Level 1	Level 2	Level 3	Total
Financial assets at fair value through profit or loss	$ 22,759	22,759	-	-	22,759
Financial assets at fair value through other comprehensive income	$ 405,612	295,830	-	109,782	405,612
Financial assets measured at amortized cost
Cash and cash equivalents	$ 1,089,232
Notes receivable, net	25,804
Accounts receivable, net	4,768,227
Other receivables	119,703
Other receivables-related parties	663
Other financial asset-current	4,789
Refundable deposits	37,670
Subtotal	$ 6,046,088
Financial liabilities measured at amortized cost
Borrowings	$ 6,355,278
Accounts payable	2,425,289
Other payables	1,426,569
Lease liabilities	75,468
Guarantee deposits received	30,990
Subtotal	$ 10,313,594

2) Valuation techniques for financial instruments measured at fair value

If a financial instrument has a quoted price in an active market, the quoted price is used as fair value. The quoted price of a financial instrument obtained from major exchanges and over-the counter markets are the basis used to determine the fair value of a listed company's stock and the quoted prices in an active market.

A financial instrument is regarded as being quoted in an active market if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service or regulatory agency and those prices represent actual and regularly occurring market transactions on an arm's-length basis. If these conditions can not be reached, then the market is non-active. In general, a market with low trading volume or high bid-ask spreads is an indication of a non-active market.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

The Group uses the following method in determining the fair value of its financial instruments without a quoted price in an active market:

Financial assets at FVOCI non-current are investments in domestic non-listed stock. The market approach of comparable business based on multiple of the equity value of investees is used to estimate fair value. The estimation of the fair value of equity instruments has been adjusted due to the effect of the discount arising from the lack of marketability.

3) There were no transfers between Levels of the fair value hierarchy for the years ended December 31, 2025 and 2024.

4) Schedule of Changes in Level 3

	2025	2024
	Fair value through other comprehensive income	Fair value through other comprehensive income
Balance at January 1	$ 109,782	96,092
Recognized in other comprehensive income	(16,767)	13,690
Balance at December 31	$ 93,015	109,782

5) Quantified information on significant unobservable inputs (Level 3) used in fair value measurement

The Group’s financial instruments that use Level 3 inputs to measure fair value included “fair value through other comprehensive income – equity investments”.

Quantified information of significant unobservable inputs was as follows:

Item	Valuation technique	Significant unobservable inputs
Financial assets at fair value through other comprehensive income-equity investments without an active market	Comparable company method	·Price-Earnings value multiplier (December 31, 2025: 0828; December 31, 2024: 0.947)
·Lack of market liquidity discount rate (December 31, 2025: 14.24%; December 31, 2024: 7.96%)	·Higher the rate, higher the fair value
·Lack of market liquidity, the higher the discount, the lower the fair value

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

6) Fair value measurements in Level 3 – sensitivity analysis of reasonably possible alternative assumptions

The Group’s measurement on the fair value of financial instruments may change if different valuation models or inputs were used. For fair value measurements in Level 3, changing one or more of the assumptions would have the following effects on other comprehensive income:

	Input	Change in A	Other comprehensive income
			favour	unfavour
December 31, 2025
Financial assets fair value through other comprehensive income	Value multiplier	5%	$ 4,616	4,722
	Liquidity discount rate	5%	$ 796	743
December 31, 2024
Financial assets fair value through other comprehensive income	Value multiplier	5%	$ 4,988	4,988
	Liquidity discount rate	5%	$ 478	478

(w) Financial risk management

(i) Overview

The Group have exposures to the following risks from its financial instruments:

1) credit risk
2) liquidity risk
3) market risk

The following likewise discusses the Group’s objectives, policies and processes for measuring and managing the above mentioned risks. For more disclosures about the quantitative effects of these risks exposures, please refer to the respective notes in the accompanying consolidated financial statements.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(ii) Structure of risk management

The Group’s risk management policies are established to identify and analyze the risks faced by the Group, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Group’s activities. The Group, through its training and management standards and procedures, aims to develop a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Group’s Audit Committee oversees how management monitors compliance with the Group’s risk management policies and procedures and reviews the adequacy of the risk management framework in relation to the risks faced by the Group. The Group’s Audit Committee is assisted in its oversight role by internal audit. Internal audit undertakes both regular and ad hoc reviews of risk management controls and procedures, the results of which are reported to the Audit Committee.

(iii) Credit risk

Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Group’s receivables from customers and investments in debt securities.

The main potential credit risk of the Group is derived from financial products, such as accounts receivable, but the main sales target are world-renowned manufacturers. In order to reduce the credit risk, the Group also regularly evaluates the customer’s operating conditions and the possibility of recovery for period receivables. Because the customer has a large customer base and has a good reputation of profit and credit history, there is no risk of concentration on the credit risk of the Group’s accounts receivable.

1) Investments

The finance department of the Group is responsible for measuring and monitoring the credit risk associated with bank deposits, fixed income investments, and other financial instruments. Given that the Group’s counterparties consist of reputable banks, financial institutions with investment grade or higher credit ratings, corporate organizations, and government agencies, there are no significant concerns regarding credit risk.

2) Guarantees

The Group’s policy is to provide financial guarantees only to wholly owned subsidiaries. As of December 31, 2025 and 2024, the Group had no other guarantees outstanding.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(iv) Liquidity risk

The Group manages sufficient cash and cash equivalents so as to cope with its operations and mitigate the effects of fluctuations in cash flows. The Group’s management supervises the banking facilities and ensures compliance with the terms of loan agreements.

Loans and borrowings from the bank form an important source of liquidity for the Group. As of December 31, 2025 and 2024, the Group’s unused credit line were amounted to $9,242,963 and $7,024,464 thousand, respectively.

(v) Market risk

Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates, and equity prices, will affect the Group’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.

1) Currency risk

The Group is exposed to currency risk on sales, purchases, and borrowings that are denominated in a currency other than the respective functional currencies of the Group’s entities, primarily the NTD, also including USD, CNY and THB. The currencies used in these transactions are the NTD, USD, CNY and THB.

Loan interest is priced in the currency of the principal of the loan. Generally speaking, the currency of the borrowing is the same as the currency of the cash flow generated by the operation of the Group, mainly in the NTD, also including CNY and USD. In this case, economic hedging is provided without the need to sign derivatives, so hedging accounting is not adopted.

Regarding other monetary assets and liabilities denominated in foreign currencies, when short-term imbalance occurs, the Group buys or sells foreign currencies at real-time exchange rates to ensure that the net risk of risk remains at an acceptable level.

2) Interest rate risk

The Group’s borrowings primarily consist of floating rate debt, which means that changes in market interest rates will lead to fluctuations in the effective interest rate on the borrowings. As a result, there may be variability in future cash flows. The Group does not mitigate its exposure to interest rate fluctuations through the use of interest rate swap contracts.

3) Other market price risk

The Group is exposed to equity price risk due to the investments in equity securities. This is a strategic investment and is not held for trading. The Group does not actively trade in these investments as the management of the Group minimizes the risk by holding different investment portfolios.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(x) Capital management

The board’s policy is to maintain a strong capital base so as to maintain investor, creditor, and market confidence, and to sustain future development of the business. Capital consists of ordinary shares, capital surplus and retained earnings. The board is responsible for overseeing the debt-to-equity ratio and simultaneously controls the level of dividends on ordinary shares.

As of December 31, 2025, the Group’s capital management strategy remained consistent with that of the prior year, December 31, 2024. The Group’s debt-to-equity ratios at the end of the reporting period as of December 31, 2025 and 2024 were as follows:

	December 31, 2025	December 31, 2024
Total liabilities	$ 11,940,652	10,656,649
Less: cash and cash equivalents	(906,024)	(1,089,232)
Net debt	$ 11,034,628	9,567,417
Total equity	$ 12,858,221	12,679,557
Debt-to-equity ratio	85.82 %	75.46 %

(y) Investing and financing activities not affecting current cash flow

	Non-cash changes
	January 1, 2025	Cash flows	Exchange rate changes	Lease payment change	December 31, 2025
Long-term borrowings (including current portion)	$ 4,095,213	1,070,557	7,387	-	5,173,157
Short-term borrowings	2,260,065	(282,739)	(57,506)	-	1,919,820
Lease liabilities	75,468	(53,746)	32	30,618	52,372
Guarantee deposits received	30,990	(8,166)	(707)	-	22,117
Total liabilities from financing activities	$ 6,461,736	725,906	(50,794)	30,618	7,167,466
	Non-cash changes
	January 1, 2024	Cash flows	Exchange rate changes	Lease payment change	December 31, 2024
Long-term borrowings (including current portion)	$ 5,833,696	(1,770,843)	32,360	-	4,095,213
Short-term borrowings	2,013,190	150,503	96,372	-	2,260,065
Lease liabilities	243,740	(53,478)	-	(114,794)	75,468
Guarantee deposits received	27,785	2,084	1,121	-	30,990
Total liabilities from financing activities	$ 8,118,411	(1,671,734)	129,853	(114,794)	6,461,736

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(7) Related-party transactions

(a) Parent company and ultimate controlling company

The Company is both the parent company and the ultimate controlling party of the Group.

(b) Names and relationship with related parties

The followings are entities that have had transactions with related party during the periods covered in the consolidated financial statements.

Name of related party	Relationship with the Group
CHANG, YUAN-MING	President of the company
Fulltech Fiber Glass Corp.	An associate
Ideal Bike Corporation	The entity’s president is the second immediate family of the president of the Company
Unitech Printed Circuit Humanities and Education Foundation	The entity’s president is the first immediate family of the president of the Company
Taiwan Environmental Sustainable Development Foundation	The entity’s president is the first immediate family of the president of the Company
Taiwan Green Foods & Eco-agriculture Development Foundation	The entity’s director is the president of the Company
Taiwan Federation of commerce	The entity’s chairman is the president of the Company
Taiwan Printed Circuit Board Association	The entity’s chairman is the president of the Company
The Business Development Foundation of the Chinese Straits	The entity’s executive director is the president of the Company

(i) Acquisitions of financial assets

In June 2024, the Group participated in the cash capital increase of Ideal Bike Corporation by subscribing shares in proportion to its original shareholding, at a total amount of $19,833 thousand, classified as financial assets at fair value through other comprehensive income non-current.

(ii) Loans and guarantee to Related Parties

For the years ended December 31, 2025 and 2024, the president had provided a guarantee for loans to the Group.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(iii) As of December 31, 2025 and 2024, other receivables raised due to collection and payment and various expense between the Group and related parties were $666 thousand and $663 thousand respectively which were recognized other receivables-related parties.

(iv) Donations

	2025	2024
Unitech Printed Circuit Humanities and Education Foundation	$ 4,000	3,000
Other related parties	954	1,550
Total	$ 4,954	4,550

The Group’s donations to related parties were recognized “selling expenses and administrative expenses”.

(d) Key management personnel compensation

Key management personnel compensation comprised:

	2025	2024
Short-term employee benefits	$ 72,797	97,573
Post-employment benefits	-	23,530
	$ 72,797	121,103

(8) Pledged assets

The carrying values of pledged assets were as follows:

Pledged assets	Object	December 31, 2025	December 31, 2024
Land	Short-term and long-term borrowings	$ 1,175,550	1,175,550
Building and constructions	Short-term and long-term borrowings	3,954,747	1,667,046
Right-of-used assets	Short-term and long-term borrowings	127,305	-
Machinery equipments	Long-term borrowings	1,545,089	1,739,119
Certificate of deposit (Note 1)	Bureau of Customs’ endorsement	16,800	16,800
Stock (Note 2)	Short-term borrowings	66,690	156,300
Other non-current financial assets	Bureau of Customs’ endorsement	42,415	-
		$ 6,928,596	4,754,815

(Note1) Classified into the account of “Refundable deposits”.
(Note2) Classified into the account of “Investments accounted for using equity method”.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(9) Significant commitments and contingencies:

(a) As of December 31, 2025 and 2024, the land and machinery equipment agreement entered by the Group had the material amounts of $3,885,581 thousand and $1,074,814 thousand, respectively; of which, the payments of $2,925,489 thousand and $487,537 thousand, respectively.

(b) The Group’s outstanding standby letter of credit were as follows:

	December 31, 2025	December 31, 2024
USD	$ 5	145
JPY	$ 13,700	15,450
EUR	$ 40	-

(10) Losses Due to Major Disasters: None

(11) Subsequent Events: None

(12) Other:

(a) A summary of current-period employee benefits, depreciation, and amortization, by function, is as follows:

	For the year ended December 31
By function
By item	2025			2024
	Cost of Sale	Operating Expense	Total	Cost of Sale	Operating Expense	Total
Employee benefits
Salary	3,261,727	777,573	4,039,300	3,359,667	873,657	4,233,324
Labor and health insurance	321,730	60,356	382,086	308,208	54,452	362,660
Pension	181,428	47,904	229,332	175,038	45,378	220,416
Remuneration of directors	-	10,485	10,485	-	22,529	22,529
Others	140,926	77,102	218,028	137,857	75,384	213,241
Depreciation	1,327,919	80,700	1,408,619	1,387,234	79,291	1,466,525
Amortization	22,292	31,177	53,469	31,060	32,091	63,151

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(13) Other disclosures:

(a) Information on significant transactions:

The following were the information on significant transactions required by the “Regulations Governing the Preparation of Financial Reports by Securities Issuers” for the Group:

(i) Loans to other parties:

Number	Name of lender	Name of borrower	Account name	Related party	Highest balance of financing to other parties during the period	Ending balance	Actual usage amount during the period	Range of interest rates during the period	Purposes of fund financing for the borrower (Note 3)	Transaction amount for business between two parties	Reasons for short-term financing	Allowance for bad debt	Collateral		Individual funding loan limits (Note 2)	Maximum limit of fund financing (Note 1)	Note
													Term	Value
1	Shanghai	Shanghai	Other	Yes	192,066	94,416	94,416	2.8%	2	-	General operating and return the loan	-	-	-	3,965,125	3,965,125	Note 1
	Unitech Electronics	Unitech Electronics	receivable
	Co., Ltd.	Nantong) Co., Ltd.	s-related parties

Note 1: The transaction has been eliminated in the preparation of the consolidated financial statements.
Note 2: The total amount available for loan of the Company shall not exceed 20% of its net worth; and the individual amount available for financing purposes shall not exceed 10% of the Company’s net worth.
For a subsidiary who, directly or indirectly, holds the entire shares of a foreign subsidiary, the maximum amount available for loan should not exceed the net worth of subsidiary which is lender.
Note 3: The filling method of capital loan and nature is as follows:
(1) Fill in 1 for those who has business relations.
(2) Fill in 2 if there is a need for short-term financing.

(ii) Guarantees and endorsements for other parties:

No. (Note 1)	Name of guarantor	Coanter-party of guarantee and endorsement		Limitation on amount of guarantees and endorsements for a specific enterprise (Note 3 and 5)	Highest balance for guarantees and endorsements during the period	Balance of guarantees and endorsements as of reporting date	Actual usage amount during the period	Property pledged for guarantees and endorsements (Amount)	Ratio of accumulated amounts of guarantees and endorsements to net worth of the latest financial statements	Maximum amount for guarantees and endorsements (Note 4 and 6)	Parent company endorsements/guarantees to third parties on behalf of subsidiary	Subsidiary endorsements/guarantees to third parties on behalf of parent company	Endorsements/guarantees to third parties on behalf of companies in Mainland China
		Name	Relationship with the Company (Note 2)
0	The Company	Shanghai Unitech Electronics (Nantong) Co., Ltd.	2	6,398,732	1,667,596	1,272,368	577,736	-	9.90 %	10,286,577	Y	N	Y
	UnitechPCB (Thailand) Co., LTD	2	6,398,732	483,250	483,250	-	-	3.76 %	10,286,577	Y	N	N

Note1: The numbers filled in for the loans provided by the Company or subsidiaries are as follows:
(a) The Company is '0'.
(b) The subsidiaries are numbered in order starting from '1'.
Note2: 7 forms of relationships in which corporate guarantees exist are defined as follows:
(a) Entities have business relations with Company.
(b) The Company directly or indirectly holds more than 50% of voting shares of its subsidiaries.
(c) Investees directly or indirectly own more than 50% of voting shares of the Company
(d) The Company directly or indirectly holds 90% of voting shares of its subsidiaries.
(e) Entities have construction contract agreements with the Company.
(f) The reason for the Company jointly invested in the entities is to provide proportionate endorsements.
(g) The Company has contractual pre-sale house agreements with its related parties under the Consumer Protection Law.
Note3: The Company's aggregate amount allows endorsement or guarantee that does not exceed 50% of its net worth in December 31, 2025.
Note4: The Company's aggregate amount allows endorsement or guarantee that does not exceed 80% of its net worth in December 31, 2025.
Note5: The Subsidiaries aggregate amount to one company allows endorsement or guarantee that does not exceed 100% or its net worth in December 31, 2025.
Note6: The Subsidiaries aggregate total amount allows endorsement or guarantee that does not exceed 200% of its net worth in December 31, 2025.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(iii) Material securities held as of December 31, 2025 (excluding investment in subsidiaries, associates and joint ventures):

(Amounts in Thousands of New Taiwan Dollars/Shares)

Name of holder	Category and name of security	Relationship with company	Account title	Ending balance				Highest Percentage of ownership (%)	Note
				Shares/Units (thousands)	Carrying value	Percentage of ownership (%)	Fair value
The Company	Ideal Bike Corporation	Related party	Financial assets at fair value through other comprehensive income non-current	36,254	217,522	11.10 %	217,522	11.10 %	-
DA TAI Investment Co., Ltd.	ANCAD, INC	-	"	26	-	2.02 %	-	2.02 %	-
DA TAI Investment Co., Ltd.	Taiwan First Biotechnology Corporation	-	"	5,306	93,015	3.00 %	93,015	4.00 %	-
DA TAI Investment Co., Ltd.	Fubon Money MarketFund	-	Current financial assets at fair value through profit or loss	1,471	23,102	- %	23,102	-	-

(iv) Related-party transactions for purchases and sales with amounts exceeding the lower of NT$300 million or 20% of the capital stock:

Name of company	Related party	Nature of relationship	Transaction details				Transactions with terms different from others		Notes/Accounts receivable (payable)		Note
			Purchase/Sale	Amount	Percentage of total purchases/sales	Payment terms	Unit price	Payment terms	Ending balance	Percentage of total notes/accounts receivable (payable)
The Company	Shanghai Unitech Electronics (Nantong) Co., Ltd.	Subsidiary	Purchase	3,592,959	43.95 %	The payment terms are based on the loose funds.	-	The payment terms are based on the loose funds.	(1,217,659)	(46.02)%	Note 1
Shanghai Unitech Electronics (Nantong) Co., Ltd.	The Company	The Parent Company	Sale	(3,592,959)	(73.87)%	The collection is based on the loose funds.	-	The collection is based on the loose funds.	1,217,659	71.33%	Note 1

Note 1: The transactions have been eliminated in the preparation of the consolidated financial statements.

(v) Receivables from related parties with amounts exceeding the lower of NT$100 million or 20% of the capital stock:

Name of company	Counter-party	Nature of relationship	Ending balance	Turnover rate	Overdue		Amounts received in subsequent period	Allowance for bad debts	Note
					Amount	Action taken
Shanghai Unitech Electronics (Nantong) Co., Ltd.	The Company	The parent company	Accounts receivable-related party 1,217,659	2.93			293,940 (USD 9,339 thousand) (CNY 2,470 thousand)		Note 1
Shanghai Unitech Electronics Co., Ltd.	Shanghai Unitech Electronics (Nantong) Co., Ltd.	Subsidiary	Accounts receivable-others 101,000	-	-	-	7,166 (CNY 1,587 thousand)	-	Note 1

Note 1: The transactions have been eliminated in the preparation of the consolidated financial statements.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(vi) Business relationships and significant intercompany transactions:

No. (Note 1)	Name of company	Name of counter-party	Nature of relationship (Note 2)	Intercompany transactions
				Account name	Amount	Trading terms (Note 4)	Percentage of the consolidated net revenue or total assets
0	The Company	Shanghai Unitech Electronics (Nantong) Co., Ltd.	1	Sales	4,059	-	0.02%
0	The Company	Shanghai Unitech Electronics (Nantong) Co., Ltd.	1	Accounts receivable	1,874	-	0.01%
0	The Company	UnitechPCB ( Thailand) Co., LTD	1	Sales	3,024	-	0.02%
0	The Company	UnitechPCB ( Thailand) Co., LTD	1	Accounts receivable	3,359	-	0.01%
1	Shanghai Unitech Electronics Co., Ltd.	Shanghai Unitech Electronics (Nontong) Co., Ltd.	3	Other receivables	101,000		0.41%
1	Shanghai Unitech Electronics Co., Ltd.	Shanghai Unitech Electronics (Nontong) Co., Ltd.	3	Other income	73,934		0.46%
1	Shanghai Unitech Electronics Co., Ltd.	Shanghai Unitech Electronics (Nontong) Co., Ltd.	3	Interest income	2,682	-	0.02%
2	Shanghai Unitech Electronics (Nontong) Co., Ltd.	The Company	2	Sales	3,592,959		22.12%
2	Shanghai Unitech Electronics (Nontong) Co., Ltd.	The Company	2	Accounts receivable	1,217,659		4.91%
3	Unitech BVI	Unitech Electronics International (HK) Limited	3	Other receivables	2,906		0.01%

Note 1: Company numbering as follow:
(1). Parent company 0
(2). Subsidiaries starting from 1.

Note 2: Relationship:
(1). Transaction between the Parent Company and the subsidiary.
(2). Transaction between the subsidiary and the Parent Company.
(3). Transaction between the subsidiary and the subsidiary.

Note 3: Only disclosure sales, revenues and receivables.

Note 4: The prices and terms of payment for intercompany sales are not materially different from those for ordinary sales. For the rest of the transactions, since there are no similar transactions, the terms of the transactions are determined by mutual agreement.

Note 5: The above transactions have been eliminated in the preparation of the consolidated financial statements.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(b) Information on investees:

The following is the information on investees for the years ended December 31, 2025:

(Unit: thousand shares)

Name of investor	Name of investee	Location	Main businesses and products	Original investment amount		Balance as of December 31, 2025			Highest Percentage of ownership	Net income (losses) of investor	Share of profits/losses of investor	Note
				December 31, 2025	December 31, 2024	Shares	Percentage of ownership	Carrying value
The Company	Unitech BV1	British Virgin Islands	Reinvestment	2,793,183	2,793,183	4.34	100.00 %	4,732,599	100.00 %	230,191	234,262	Note 1
The Company	DA-TAI Investment Co., Ltd.	Taipei	General investment	820,019	820,019	82,000	100.00 %	1,464,697	100.00 %	99,614	99,614	Note 1
The Company	Unitech Thailand	Thailand	Manufacturing and sale of PCB	2,036,341	459,077	21,600	100.00 %	2,148,218	100.00 %	(12,934)	(8,878)	Note 1 and 2
The Company	Unitech HK	Hong Kong	Reinvestment	153,980	153,980	5,000	6.10 %	269,141	6.10 %	245,311	14,958	Note 1
DA-TAI Investment Co., Ltd.	Fulbach Fiber Glass Corp.	Taipei	Manufacturing of glass and glass products	600,684	600,684	60,655	10.37 %	1,348,236	11.70 %	856,541	99,878	-
Unitech BV1	Unitech HK	Hong Kong	Reinvestment	2,480,927	2,480,927	77,000	93.90 %	4,735,157	93.90 %	245,311	230,353	Note 1

Note 1: The investees have been eliminated in the preparation of the consolidated financial statements.
Note 2: The company increased the capital to Unitech Thailand THB 1,660,000 thousand in 2025.

(i) The names of investees in Mainland China, the main businesses and products, and other information:

Name of investor	Main businesses and products	Total amount of paid-in capital	Method of investment (Note 1)	Accumulated outflow of investment from Taiwan as of January 1, 2025	Investment flows		Accumulated outflow of investment from Taiwan as of December 31, 2025	Net income (losses) of the investor	Percentage of ownership	Highest percentage of ownership	Investment income (losses) (Note 2 and 3)	Book value (Note 3)	Accumulated remittance of earnings in current period
					Outflow	Inflow
Shanghai Unitech Electronics Co., Ltd.	Manufacturing and sale of PCB	2,474,777	(2)	2,480,927	-	-	2,480,927	193,485	100.00%	100.00%	193,485	3,965,125	-
Shanghai Unitech Electronics (Nantong) Co., Ltd.	Manufacturing and sale of PCB	4,486,960	(3)	937,800 (Note 4)	-	-	937,800	243,597	100.00%	100.00%	243,597	4,885,157	-

(ii) Limitation on investment in Mainland China:

Company Name	Accumulated Investment in Mainland China as of December 31, 2025 (Note 5)	Investment Amounts Authorized by Investment Commission, MOEA (Note 5)	Upper Limit on Investment (Note 6)
The Company	3,925,481 (USD 124,896 thousand)	3,925,481 (USD 124,896 thousand)	7,714,933

Note 1: Three ways to investment in mainland China
(1) Direct investment
(2) Indirect investment through holding companies
(3) Others

Note 2: The recognition of gain and loss on investment based on the audit financial report which was assured by R.O.C. Accountant.

Note 3: The investees have been eliminated in the preparation of the consolidated financial statements.

Note 4: The amount includes the capitalization of retained earnings amounting to USD 27,000 thousand.

Note 5: As of December 31, 2025, exchange rate USD/NTD 1:31.43

Note 6: Calculated based on 60% of the Company's net worth.

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(iii) Significant transactions:

The significant inter-company transactions with the subsidiary in Mainland China for the year ended December 31, 2025, which were eliminated in the preparation of consolidated financial statements, are disclosed in “Information on significant transactions”.

(14) Segment information:

(a) Information about reportable segments and their measurement and reconciliations

The Group engaged in the production and sales of PCB, thus there is no disclosure of industrial financial information.

The Group’s operating segment information and reconciliation were as follows:

	2025
	Domestic PCB and other	Oversea PCB	Reconciliation and elimination	Total
Revenue:
Revenue from external customers	$ 14,951,080	1,295,211	-	16,246,291
Intersegment revenue	7,083	3,568,357	(3,575,440)	-
Total revenue	$ 14,958,163	4,863,568	(3,575,440)	16,246,291
Reportable segment profit or loss	$ 302,304	229,424	-	531,728
	2024
	Domestic PCB and other	Oversea PCB	Reconciliation and elimination	Total
Revenue:
Revenue from external customers	$ 17,510,150	1,021,848	-	18,531,998
Intersegment revenue	52,150	3,677,459	(3,729,609)	-
Total revenue	$ 17,562,300	4,699,307	(3,729,609)	18,531,998
Reportable segment profit or loss	$ 1,361,067	265,000	-	1,626,067
	Domestic PCB and other	Oversea PCB	Reconciliation and elimination	Total
Reportable segment assets
December 31, 2025	$ 23,342,933	11,369,971	(9,914,031)	24,798,873
December 31, 2024	22,260,672	8,729,509	(7,653,975)	23,336,206

(Continued)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(b) Geographic information

In presenting information based on geography, revenue is attributed to the geographical location of the goods to be received, while non-current assets are based on the geographical location of the assets.

Geographical information	2025	2024
Revenue from external customers:
Taiwan	$ 559,611	1,321,323
China	6,933,649	5,831,523
United States	4,074,114	4,399,826
Europe	1,891,551	2,196,420
Other countries	2,787,366	4,782,906
	$ 16,246,291	18,531,998
	December 31, 2025	December 31, 2024
Non-current Assets:
Taiwan	$ 6,167,777	6,822,766
China	5,548,807	5,705,503
Thailand	2,925,716	481,085
Total	$ 14,642,300	13,009,354

Non-current assets include property, plant and equipment, intangible assets, and other assets, excluding financial instruments and deferred tax assets.

(c) Major customers

	2025	2024
A customer of PCB division	$ 4,117,966	3,281,816
B customer of PCB divisions	1,862,891	2,523,591
Total	$ 5,980,857	5,805,407

AI assistant

UNITECH — Audit Report / Information 2025

52034_rns_2026-04-21_0093740d-39ca-45d1-a915-4e579699ff02.pdf

UNITECH PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES

Table of contents

Representation Letter

Independent Auditors' Report

Opinion

Basis for Opinion

Key Audit Matters

Evaluation of Inventories

Other Matter

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

Auditors' Responsibilities for the Audit of the Consolidated Financial Statements

Notes to Readers

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

Unitech Printed Circuit Board Corporation and Subsidiaries

Consolidated Balance Sheets

December 31, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars)

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

Unitech Printed Circuit Board Corporation and Subsidiaries

Consolidated Statements of Comprehensive Income

For the years ended December 31, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Except for Earnings Per Common Share)

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

Unitech Printed Circuit Board Corporation and Subsidiaries

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

Unitech Printed Circuit Board Corporation and Subsidiaries

Consolidated Statements of Cash Flows

For the years ended December 31, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars)

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

Unitech Printed Circuit Board Corporation and Subsidiaries

Consolidated Statements of Cash Flows

For the years ended December 31, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars)

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

(4) Summary of material accounting policies:

(a) Statement of compliance

(b) Basis of preparation

(i) Basis of measurement

(ii) Functional and presentation currency

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

Unitech Printed Circuit Board Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

UNITECH Audit Report / Information 2025