USI - Annual Report 2020 | FinancialReports.eu

Stock code: 1304

USI CORPORATION AND SUBSIDIARIES

Consolidated Financial Statements for the Years Ended December 31, 2020 and 2019 and Independent Auditors’ Report

Address: No. 330, Fengren Rd., Renwu Dist., Kaohsiung City 814, Taiwan Phone: (02)87516888

§Table of Content§

I T E M 1. Cover 2. Table of Content 3. Affiliates' Statement of Consolidated Financial Statements 4. Independent Auditors’ Report 5. Consolidated Balance Sheets 6. Consolidated Statements of Comprehensive Income 7. Consolidated Statements of Changes in Equity 8. Consolidated Statements of Cash Flows 9. Notes to Consolidated Financial Statements a. General Information b. Approval of Financial Statements c. Application of New, Amended and Revised Standards and Interpretations d. Summary of Significant Accounting Policies e. Critical Accounting Judgments and Key Sources of Estimation Uncertainty f. Information on Important Accounting Items g. Related Party Transactions h. Collateralized Assets i. Significant Contingent Liability and Unrecognized Contractual Commitments j. Significant Disaster Loss k. Significant Events After the Balance Sheet Date l. Others m. Separately Disclosed Items 1) Information on Significant Transactions 2) Information on Reinvestment Business 3) Information on Investments in China 4) Information on Major Shareholders n. Segment Information	P A G E 1 2 3 4~9 10 11 12~15 16 16 16~19 19~42 42~43 43~117 117~118 118 118~121 - - 121~126 126~127, 131~169, 183~185 126~127, 170~176 127~128, 177~182, 186~187 128, 188 128~130	F IN AN CI A L STATEMENT N O T E S N U M B E R - - - - - - - 1 2 3 4 5 6`～`34 35 36 37 - - 38`～`39 40 40 40 41

DECLARATION OF CONSOLIDATION OF FINANCIAL STATEMENTS of AFFILIATES

The entities that are required to be included in the consolidated financial statements of USI Corporation as of and for the year ended December 31, 2020, under the “Criteria Governing 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 Standard 10, “Consolidated Financial Statements”. In addition, the information required to be disclosed in the combined financial statements of affiliates is included in the consolidated financial statements of USI Corporation and subsidiaries. Consequently, we did not prepare a separate set of consolidated financial statements of affiliates.

Very truly yours,

USI CORPORTATION

By:

YI-GUI WU Chairman March 8, 2021

Independent Auditors’ Report

TO USI Corporation

Opinion

We have audited the consolidated balance sheets of USI Corporation and its subsidiaries (the Group) as of the years ended December 31, 2020 and 2019, and the Consolidated Statements of Comprehensive Income, Consolidated Statements of Changes in Equity, Consolidated Statements of Cash Flows and Notes to the Consolidated Financial Statements (including the Summary of Significant Accounting Policies) for the months from January 1 toDecember 31 of 2020 and 2019.

The accountant opinions are that the preparations of significant issues of the consolidated financial statements are made in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers. They fairly present the consolidated financial conditions for the years ended December 31 of 2020 and 2019 of the Group and the consolidated financial performance and consolidated cash flows for the months from January 1 to December 31, 2020 and 2019.

Basis for Opinion

We conducted our audit of the consolidated financial statements Year 2020 in accordance with the Regulations Governing Auditing and Attestation of Financial Statements by Certified Public Accountants, Rule No. 1090360805 issued by the Financial Supervisory Commi ssion of the Republic of China on February 25, 2020, and auditing standards generally accepted in 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 Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements Year 2020. 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.

The key audit matters identified in the Group’s consolidated financial statements Year 2020 are stated as follows: Valuation of Inventory

As of December 31, 2020, the carrying amount of the Group’s inventory was NT$4,296,228 thousand (i.e., the gross amount of inventory of NT$4,910,989 thousand with a deduction of the allowance for inventory valuation of NT$614,761 thousand), representing 6% of the Group’s total assets. As the Group’s inventory was stated at the lower of cost or net realizable value due to price fluctuation effect of raw material, ethylene, while keen fluctuation of international oil price and such evaluation was involved critical judgment and accounting estimates by the management, we identified the valuation of inventory has been identified as a key audit matter.

Refer to Notes 4(6), 5(2) and 11 to the Group’s financial statements for the related accounting policies and disclosures on inventory valuation.

The main audit procedures that we performed for valuation of

inventory are as follows:

We obtained an understanding of the reasonableness of the Group’s policies and methods of the allowance for inventory valuation.
We sampled and cross-checked the raw material quote over latest period or sales invoice with the lower inventory cost and net realized value prepared by Management, also revalidated net realization of inventroy to assess the base and reasonableness of the Management's inventory valuation.
We observed year-end inventory and sampled to figure out the status, also, we evalauted the reasonableness of recognizing sluggish inventory as loss for price decline reserve.

Other Matters

We have also audited the parent company only financial statements of USI Corporation as of and for the years ended December 31, 2020 and 2019 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 the IFRS, IAS, IFRIC, and 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, manag ement 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. 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 auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the auditing standards generally accepted in the Republic of China will always detect a material misstatement when it exists. Mis statements 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 auditing standards generally accepted in the Republic of China, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatem ent 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.
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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 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 statements that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other

matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements Year 2020 and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation preludes 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 Pi-Yu Chuang (Fiancial Supervisory Commission, Approval No. 1070323246) and Cheng-Hung Kuo (Securities and Futures Bureau, Approval No. 0920123784).

Notice to Readers

The accompanying consolidated financial statements are intended only to present the consolidated financial position, financial performance and cash flows in accordance with accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to audit such consolidated financial statements are those generally applied in the Republic of China. For the convenience of readers, the independent auditors’ report and the accompanying consolidated financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese -language independent auditors’ report and consolidated financial statements shall prevail.

March 22, 2021

USI CO RPO RATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

December 31, 2020 and 2019

Code 1100 1110 1120 1136 1150 1170 1200 1220 130X 1410 1470 11XX 1517 1535 1550 1600 1755 1760 1805 1821 1840 1990 15XX 1XXX C o d e 2100 2110 2120 2170 2219 2230 2280 2320 2365 2399 21XX 2530 2540 2550 2570 2580 2640 2670 25XX 2XXX 3100 3200 3310 3320 3350 3300 3490 3500 31XX 36XX 3XXX	Assets CURRENT ASSETS Cash and cash equivalents (Notes 4 and 6) Financial assets at fair value through profit or loss (FVTPL) - current (Notes 4 and 7) Financial assets at fair value through other comprehensive income (FVTOCI) - current (Notes 4 and 8) Financial assets measured at amortized cost - current (Notes 4, 9 and 36) Notes receivable, net (Notes 4 and 10) Accounts receivable, net (Notes 4, 5 and 10) Other receivables (Notes 4, 10 and 35) Current tax assets (Notes 4 and 29) Inventories (Notes 4, 5 and 11) Prepayments Other current assets Total current assets NON-CURRENT ASSETS Financial assets at fair value through other comprehensive income (FVTOCI) - non-current (Notes 4 and 8) Financial assets measured at amortized cost - non-current (Notes 4, 9, 36 and 37) Investments accounted for using the equity method (Notes 4 and 14) Property, plant and equipment (Notes 4, 5, 15 and 36) Right-of-use assets (Notes 4, 16 and 36) Investment properties (Notes 4, 17 and 36) Goodwill (Notes 4 and 18) Other intangible assets (Notes 4 and 18) Deferred tax assets (Notes 4 and 29) Other non-current assets (Note 36) Total non-current assets TOTAL Liabilities and Equity CURRENT LIABILITIES Short-term borrowings (Notes 19 and 36) Short-term bills payable (Notes 4 and 7) Financial liabilities at fair value through profit or loss (FVTPL) - current (Notes 4 and 7) Notes payable and accounts payable (Notes 21) Other payables (Note 22) Current tax liabilities (Notes 4 and 29) Lease liabilities - current (Notes 4 and 16) Current portion of long-term borrowings (Notes 19, 20 and 36) Refund liabilities - current (Note 22) Other current liabilities (Note 27) Total current liabilities NON-CURRENT LIABILITIES Bonds payable (Note 20) Long-term borrowings (Notes 19 and 36) Provisions - non-current (Notes 23 and 37) Deferred tax liabilities (Notes 4 and 29) Lease liabilities - non-current (Note 16) Net defined benefit liabilities - non-current (Notes 4 and 24) Other non-current liabilities (Note 25) Total non-current liabilities Total liabilities EQUITY ATTRIBUTABLE TO OWNERS OF THE COMPANY (Notes 4, 8, 13, 26 and 29) Share capital Capital surplus Retained earnings Legal reserve Special reserve Unappropriated earnings Total retained earnings Other equity Treasury shares Total equity attributable to owners of the Company NON-CONTROLLING INTERESTS Total equity TOTAL		(In December 31,2020 m o u n t `％` $ 9,637,007 13 5,511,683 7 164,922 - 348,450 - 671,576 1 6,810,340 9 293,459 - 29,231 - 4,296,228 6 766,824 1 9,834 - 28,539,554 37 2,393,734 3 390,828 1 20,170,030 26 23,257,418 30 794,480 1 575,586 1 269,026 - 10,807 - 573,850 1 349,203 1 48,784,962 63 $ 77,324,516 100 $ 2,726,270 3 656,704 1 20,724 - 3,406,837 4 2,216,533 3 1,211,350 2 75,284 - 1,999,233 3 16,390 - 374,501 - 12,703,826 16 4,995,069 6 7,590,000 10 136,375 - 1,434,806 2 384,402 1 1,292,053 2 64,342 - 15,897,047 21 28,600,873 37 11,887,635 15 321,798 1 3,109,625 4 781,059 1 5,606,462 7 9,497,146 12 240,195) - 475,606) ( 1) 20,990,778 27 27,732,865 36 48,723,643 63 $ 77,324,516 100	Thousands of New Taiwa n Dollars) December 31,2019 A m o u n t `％` $ 7,927,403 11 6,358,025 9 174,789 - 506,129 1 634,435 1 6,411,077 9 277,131 - 11,919 - 4,919,506 7 782,608 1 17,150 - 28,020,172 39 2,196,724 3 311,942 - 14,867,168 21 23,228,911 33 885,508 1 524,408 1 269,026 - 17,004 - 643,715 1 461,208 1 43,405,614 61 $ 71,425,786 100 $ 4,258,980 6 1,352,810 2 4,136 - 2,757,368 4 1,938,026 3 517,913 1 70,814 - 1,443,156 2 28,221 - 262,958 - 12,634,382 18 6,991,327 10 9,049,770 12 136,375 - 1,411,901 2 481,964 1 1,473,867 2 69,253 - 19,614,457 27 32,248,839 45 11,887,635 17 271,613 - 2,979,753 4 430,526 1 4,346,640 6 7,756,919 11 ( 781,058) ( 1) ( 475,606) ( 1) 18,659,503 26 20,517,444 29 39,176,947 55 $ 71,425,786 100	Thousands of New Taiwa n Dollars) December 31,2019 A m o u n t `％` $ 7,927,403 11 6,358,025 9 174,789 - 506,129 1 634,435 1 6,411,077 9 277,131 - 11,919 - 4,919,506 7 782,608 1 17,150 - 28,020,172 39 2,196,724 3 311,942 - 14,867,168 21 23,228,911 33 885,508 1 524,408 1 269,026 - 17,004 - 643,715 1 461,208 1 43,405,614 61 $ 71,425,786 100 $ 4,258,980 6 1,352,810 2 4,136 - 2,757,368 4 1,938,026 3 517,913 1 70,814 - 1,443,156 2 28,221 - 262,958 - 12,634,382 18 6,991,327 10 9,049,770 12 136,375 - 1,411,901 2 481,964 1 1,473,867 2 69,253 - 19,614,457 27 32,248,839 45 11,887,635 17 271,613 - 2,979,753 4 430,526 1 4,346,640 6 7,756,919 11 ( 781,058) ( 1) ( 475,606) ( 1) 18,659,503 26 20,517,444 29 39,176,947 55 $ 71,425,786 100
		A	m o u n t $ 9,637,007 5,511,683 164,922 348,450 671,576 6,810,340 293,459 29,231 4,296,228 766,824 9,834 28,539,554 2,393,734 390,828 20,170,030 23,257,418 794,480 575,586 269,026 10,807 573,850 349,203 48,784,962 $ 77,324,516 $ 2,726,270 656,704 20,724 3,406,837 2,216,533 1,211,350 75,284 1,999,233 16,390 374,501 12,703,826 4,995,069 7,590,000 136,375 1,434,806 384,402 1,292,053 64,342 15,897,047 28,600,873 11,887,635 321,798 3,109,625 781,059 5,606,462 9,497,146 240,195) 475,606) 20,990,778 27,732,865 48,723,643 $ 77,324,516	A	m o u n t $ 7,927,403 6,358,025 174,789 506,129 634,435 6,411,077 277,131 11,919 4,919,506 782,608 17,150 28,020,172 2,196,724 311,942 14,867,168 23,228,911 885,508 524,408 269,026 17,004 643,715 461,208 43,405,614 $ 71,425,786 $ 4,258,980 1,352,810 4,136 2,757,368 1,938,026 517,913 70,814 1,443,156 28,221 262,958 12,634,382 6,991,327 9,049,770 136,375 1,411,901 481,964 1,473,867 69,253 19,614,457 32,248,839 11,887,635 271,613 2,979,753 430,526 4,346,640 7,756,919 781,058) 475,606) 18,659,503 20,517,444 39,176,947 $ 71,425,786
		( (		( (

The accompanying notes are a n integral part of the consolidated f ina ncia l statements.

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USI CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Years Ended December 31, 2020 and 2019

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

C o d e 4100 OPERATING REVENUE (Notes 4 and 27) 5110 COST OF GOODS SOLD (Notes 4, 11, 15, 16, 18, 24 and 28) 5900 GROSS PROFIT OPERATING EXPENSES (Notes 4, 10, 15, 16, 18, 24, 28 and 35) 6100 Selling and marketing expenses 6200 General and administrative expenses 6300 Research and development expenses 6000 Total operating expenses 6900 PROFIT FROM OPERATIONS NON-OPERATING INCOME AND EXPENSES 7100 Interest income (Notes 4 and 28) 7010 Other income (Notes 4, 8, 15, 28 and 35) 7020 Other gains and losses (Notes 4, 13, 28 and 39) 7050 Finance costs (Notes 4, 16, 19, 20 and 28) 7060 Share of (loss) profit of joint ventures accounted for using the equity method (Notes 4 and 14) 7000 Total non-operating income and expenses 7900 PROFIT BEFORE INCOME TAX FROM CONTINUING OPERATIONS 7950 INCOME TAX EXPENSE (Notes 4 and 29) 8000 NET PROFIT FROM CONTINUING OPERATIONS 8100 NET PROFIT (LOSS) FROM DISCONTINUED OPERATIONS (Notes 4 and 12) 8200 NET PROFIT FOR THE PERIOD OTHER COMPREHENSIVE INCOME (LOSS) Items that will not be reclassified subsequently to profit or loss: 8311 Remeasurements of defined benefits plan (Notes 4, 24 and 26) 8316 Profit (loss) of equity instruments at FVTOCI (Notes 4 and 26) 8349 Income tax relating to items that will not be reclassified subsequently to profit or loss (Notes 4, 26 and 29) 8310 Items that may be reclassified subsequently to profit or loss: 8361 Exchange differences on translating foreign operations (Notes 4 and 26) 8399 Income tax relating to items that may be reclassified subsequently to profit or loss (Notes 4, 26 and 29) 8360 8300 Other comprehensive income for the period, net of income tax 8500 TOTAL COMPREHENSIVE INCOME FOR THE PERIOD NET PROFIT ATTRIBUTABLE TO 8610 Owners of the Company 8620 Non-controlling interests 8600 TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO 8710 Owners of the Company 8720 Non-controlling interests 8700 EARNINGS PER SHARE (Note 30) From continuing and discontinued operations 9750 Basic 9850 Diluted From continuing operations 9710 Basic 9810 Diluted	For the Years Ended December 31, 2020 A m o u n t `％` $ 50,201,273 100 39,721,391 79 10,479,882 21 2,020,552 4 1,200,353 2 362,961 1 3,583,866 7 6,896,016 14 102,548 - 374,667 1 132,342 - ( 221,690 ) ( 1) ( 165,161) - 222,706 - 7,118,722 14 1,440,358 3 5,678,364 11 4,273 - 5,682,637 11 19,250 - 350,419 1 ( 6,122) - 363,547 1 166,163 - ( 12,938) - 153,225 - 516,772 1 $ 6,199,409 12 $ 2,409,778 5 3,272,859 6 $ 5,682,637 11 $ 2,875,537 6 3,323,872 6 $ 6,199,409 12 $ 2.25 $ 2.24 $ 2.25 $ 2.24	For the Years Ended December 31, 2019	For the Years Ended December 31, 2019
	A m o u n t $ 50,201,273 39,721,391 10,479,882 2,020,552 1,200,353 362,961 3,583,866 6,896,016 102,548 374,667 132,342 ( 221,690 ) ( 165,161) 222,706 7,118,722 1,440,358 5,678,364 4,273 5,682,637 19,250 350,419 ( 6,122) 363,547 166,163 ( 12,938) 153,225 516,772 $ 6,199,409 $ 2,409,778 3,272,859 $ 5,682,637 $ 2,875,537 3,323,872 $ 6,199,409 $ 2.25 $ 2.24 $ 2.25 $ 2.24	A m o u n t $ 55,656,741 48,924,372 6,732,369 2,042,577 1,341,976 416,083 3,800,636 2,931,733 153,706 575,485 ( 1,929 ) ( 285,222 ) ( 12,403) 429,637 3,361,370 820,144 2,541,226 4,175 2,545,401 8,291 ( 179,751 ) ( 219 ) ( 171,679) ( 974,471 ) 152,665 ( 821,806) ( 993,485) ($ 1,551,916) $ 1,281,364 1,264,037 $ 2,545,401 $ 822,153 719,763 $ 1,551,916 $ 1.19 $ 1.19 $ 1.19 $ 1.19	`％`
	( ( ( (	( ( ( ( ( ( ( ( ( (	100 88 12 4 2 1 7 5 - 1 - - - 1 6 1 5 - 5 - - - - ( 2 ) - ( 2) ( 2) ( 3) 3 2 5 2 1 3

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

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USI C ORP ORAT I O N AND SUB SI D IAR IE S CON SOL ID AT E D ST AT E M E NT S OF C HA NG E S I N E QUIT Y Fo r t h e Yea r s E n d ed D ecem ber 3 1 , 2 0 20 a n d 2 0 19

E q u i	t	y A	t t r i	b	u t a	b	l e	t o O	w n e r	s o f	t h e		C o m	p	`Th o us a nd s of Ne w` No n -co n tr o l li n g i n t e r e s t s (Notes 8,13,14and26) $ 18,267,556 ( 4,490) 18,263,066 - - - ( 705,440 ) 1,264,037 ( 534,274) 729,763 632 - ( 1,932 ) - - 2,231,355 20,517,444 - - - ( 519,048 ) 3,272,859 51,013 3,323,872 ( 28,871 ) - - - 4,439,468 $ 27,732,865	`Ta i` T o	`wa n D o l la r s)` t a l E q u i t y
Share Capital (Notes 4 and 26) $ 11,887,635 - 11,887,635 - - - - - - - - - - - - 11,887,635 - - - - - - - - - - - - $ 11,887,635	C	a p i t	a l S u	r	p l u s t h e r s o t e 2 6 ) $ 17,163 - 17,163 - - - - - - - - 1,677 - - - - 18,840 - - - - - - - - 1,100 - - - $ 19,940	R	e t a i n	e d E a	r n i n g s Un a ppr o pr i a t ed E a r n i n g s (Notes4, 8,13 and26) $ 3,513,943 ( 9,509) 3,504,434 ( 53,994 ) ( 55,399 ) ( 356,629 ) - 1,281,364 ( 3,563) 1,277,801 ( 923 ) - - - 31,350 - 4,346,640 ( 129,872 ) ( 350,533 ) ( 594,382 ) - 2,409,778 2,974 2,412,752 ( 65 ) - - ( 78,078 ) - $ 5,606,462	O t h e r	E q u i t y Unrealized Gain (Loss) on Financial Assets at FVTOCI (Notes 4, 8, 26, and 29) ( $ 85,136 ) - ( 85,136 ) - - - - - ( 61,701) ( 61,701) - - - - ( 31,350 ) - ( 178,187 ) - - - - - 443,769 443,769 - - - 78,078 - $ 343,660	Tr ( N	ea sury Shar es o t e 2 6 ) $ 475,606 ) - 475,606 ) - - - - - - - - - - - - - 475,606 ) - - - - - - - - - - - - $ 475,606)	T
										E x c h a n g e D i f f e r e n c e s o n Translating Foreign O p e r a t i o n s (Notes 4, 26 and 29) ( $ 208,307 ) - ( 208,307 ) - - - - - ( 393,947) ( 393,947) - - ( 617 ) - - - ( 602,871 ) - - - - - 19,016 19,016 - - - - - ($ 583,855)
	T r T r ( N	ea s u r y S h a r e a n s a c t i o n s o t e 2 6 ) $ 233,983 - 233,983 - - - - - - - - - 11,499 - - 245,482 - - - - - - - - - 19,165 - - $ 264,647	Shares of Changes in Capital Surplus o f A s s o c i a t e s (Notes 4, 13 and 26) $ 2,592 - 2,592 - - - - - - - 4,699 - - - - 7,291 - - - - - - - 29,920 - - - - $ 37,211	O ( N
						L e ( N	g a l R e s e r v e o t e 2 6 ) $ 2,925,759 - 2,925,759 53,994 - - - - - - - - - - - - 2,979,753 129,872 - - - - - - - - - - - $ 3,109,625	Speci a l Reser ve ( N o t e 2 6 ) $ 375,127 - 375,127 - 55,399 - - - - - - - - - - - 430,526 - 350,533 - - - - - - - - - - $ 781,059
									( ( ( ( ( ( ( ( ( ( (	( ( ( ( ( ( (	( ( ( ( ( (	( ( ( (		( ( ( ( (	( ( ( ( ( (	( ( ( ( ( ( (	$ 36,454,709 13,999) 36,440,710 - - 356,629 ) 705,440 ) 2,545,401 993,485) 1,551,916 4,408 1,677 2,549 ) 11,499 - 2,231,355 39,176,947 - - 594,382 ) 519,048 ) 5,682,637 516,772 6,199,409 984 1,100 19,165 - 4,439,468 $ 48,723,643

T h e a cco m pa n yi n g n o t es a r e a n i n t egr a l pa r t o f t h e co n so l i d a t ed fi n a n ci a l st a t em en t s.

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USI CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Years Ended December 31, 2020 and 2019

(In Thousands of New Taiwan Dollars)

C o d e CASH FLOWS FROM OPERATING ACTIVITIES A00010 Income before income tax from continuing operations A00020 Income before income tax from discontinued operations A10000 Income before income tax A20010 Adjustments for: A20100 Depreciation expenses A20200 Amortization expenses A20300 Expected credit loss reversed on accounts receivable A20400 Net gain on fair value change of financial assets and liabilities as at FVTPL A20900 Finance costs A21200 Interest income A21300 Dividend Income A22300 Share of loss of joint ventures accounted for using the equity method A22500 Loss (gain) on disposal of property, plant and equipment A23700 Impairment loss recognized on non- financial assets A23800 Inventory write-downs recognized (reversed) A29900 Gain on government grants A29900 Recognition of refund liabilities A30000 Changes in operating assets and liabilities A31115 Decrease (increase) in financial assets mandatorily classified as at FVTPL A31130 (Increase) decrease in notes receivable A31150 (Increase) decrease in accounts receivable A31180 (Increase) Decrease in other receivables A31200 Decrease in inventories A31230 Decrease (Increase) in prepayments A31240 Decrease (Increase) in other current assets A32130 Decrease in notes payable		Year 2020 $ 7,118,722 4,273 7,122,995 2,279,397 73,804 2,415 ) 25,657 ) 224,338 102,548 ) 186,949 ) 165,161 37,249 31,856 24,765 - - 888,587 37,141 ) 396,848 ) 6,149 ) 601,880 11,943 7,316 -		Year 2019
	( ( ( ( ( ( (		( ( ( ( ( ( ( ( ( ( (	$ 3,361,370 4,175 3,365,545 2,156,511 80,005 4,115 ) 216,827 ) 302,569 153,706 ) 162,687 ) 12,403 41,381 ) 113,587 22,017 ) 155,710 ) 7,535 1,063,892 ) 381,448 1,125,888 8,317 1,805,615 50,075 ) 5,241 ) 483 ) (Continued)

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C o d e A32150 Increase (Decrease) in accounts payable A32180 Increase in other payables A32200 Decrease in provisions A32240 Decrease in net defined benefit liabilities A32230 Increase in other current liabilities A33000 Cash generated from operations A33100 Interest received A33300 Interest paid A33500 Income tax paid AAAA Net cash generated from operating activities CASH FLOWS FROM INVESTING ACTIVITIES B00010 Payments for financial assets at FVTOCI B00020 Proceeds from sale of financial assets at FVTOCI B00030 Reduction of capital by returning cash of financial assets at FVTOCI B00040 Disposal (acquistion) of financial assets measured at amortized cost B01800 Acquisition of investments accounted for using the equity method B02700 Payments for property, plant and equipment B02800 Proceeds from disposal of property, plant and equipment B03700 Decrease (Increase) in refundable deposits B04500 Payments for other intangible assets B05400 Acquisition of investment property B06700 Decrease (Increase) in other non-current assets B07600 Dividends received B09900 Compensations for land ownership certificate BBBB Net cash used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES C00100 Decrease in short-term borrowings C00600 Decrease in short-term bills payable C01200 Proceeds from issuance of bond C01300 Repayments of bonds C01600 Proceeds from mid- to long-term borrowings C01700 Repayments of mid- to long-term borrowings		Year 2020 649,469 368,359 11,831 ) 179,158 ) 111,543 11,649,966 92,369 236,861 ) 689,753) 10,815,721 - 76,643 83,402 78,793 5,122,441 ) 2,330,747 ) 25,612 14,836 113 ) 85,673 ) 32,231 186,949 - 7,040,508) 1,532,710 ) 696,000 ) - 1,000,000 ) 13,380,000 15,283,200 )		Year 2019
	( ( ( ( ( ( ( ( ( ( ( ( (		( ( ( ( ( ( ( ( ( ( ( ( ( ( ( ( (	634,836 ) 13,094 9,769 ) 192,652 ) 20,431) 6,638,695 147,870 286,488 ) 427,584) 6,072,493 6,550 ) 83,470 52,423 67,178 ) 5,161,581 ) 2,002,986 ) 78,460 21,601 ) 6,503 ) - 180,953 ) 162,687 192,994 6,877,318) 2,467,874 ) 162,000 ) 1,995,630 - 24,462,500 24,112,154 ) (Continued)

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C o d e C03000 (Decrease) Increase in guarantee deposits received C04020 Repayments of the principal portion of lease liabilities C04300 Decrease in other non-current liabilities C04500 Decrease in dividends payable C05800 Change in non-controlling interests C05800 Dividends paid to non-controlling interests CCCC Net cash (used) generated from financing activities DDDD EFFECTS OF EXCHANGE RATE CHANGES ON THE BALANCE OF CASH AND CASH EQUIVALENTS HELD IN FOREIGN CURRENCIES EEEE NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS E00100 CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD E00200 CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD		Year 2020 4,133 ) 68,659 ) 778 ) 594,382 ) 4,439,468 519,048) 1,879,442) 186,167) 1,709,604 7,927,403 $ 9,637,007		Year 2019
	( ( ( ( ( ( (		( ( ( ( ( (	813 66,023 ) 3,042 ) 356,629 ) 2,231,355 705,440) 817,136 208,212) 195,901) 8,123,304 $ 7,927,403

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

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USI CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the Years Ended December 31, 2020 and 2019

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

1. GENERAL INFORMATION

USI Corporation (“USI”, the “Company” or the “parent company”) was incorporated in May 1965. The Company mainly produces and sells polyethylene. In May 1972, the Company’s shares have been listed on the Taiwan Stock Exchange (“TWSE”).

The consolidated financial statements of the Company and its subsidiaries, collectively referred to as the “ Group ” , are presented in the Company ’ s functional currency, the New Taiwan dollar.

2. APPROVAL OF FINANCIAL STATEMENTS

The consolidated financial statements were reported to and issued by the Company’s board of directors on March 8, 2021.

3. APPLICATION OF NEW, AMENDED AND REVISED STANDARDS

AND INTERPRETATIONS

a. Initial application of the amendments to the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), IFRIC Interpretations (IFRIC), and SIC Interpretations (SIC) (collectively, the “IFRSs”) endorsed and issued into effect by the Financial Supervisory Commission (FSC).

The initial application of the amendments to the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the IFRSs endorsed and issued into effect by the FSC would not have any material impact on the Group’s accounting policies.

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New IFRSs endorsed and applicable in 2021

New, Revised or Amended Standards and Interpretations

Effective Date Announced by IASB Effective immediately upon promulgation by the IASB

Amendments to IFRS 4 “Extension of the Temporary Exemption from Applying IFRS 9” the IASB Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4, and IFRS 16 “Interest Rate Benchmark Reform - Phase 2” January 1, 2021 Amendments to IFRS 16 “COVID-19 related rent diminution “ June 1, 2020

As of the date the consolidated financial statements were authorized for issue, the Group assessed that the amendments to above standards and interpretations had no significant impact on the Group’s financial position and financial performance.

c.

New IFRSs in issue but not yet endorsed and issued into effect by the IASB

New, Revised or Amended Standards and

New, Revised or Amended Standards and
Interpretations	Effective Date(Note 1)
Annual Improvements to IFRS Standards 2018–
2020	January 1, 2022 (Note 2)
Amendments to IFRS 3 “Reference to the
Conceptual Framework”	January 1, 2022 (Note 3)
Amendments to IFRS 10 and IAS 28 “Sale or	To be determined by
Contribution of Assets between an Investor	IASB
and its Associate or Joint Venture”
IFRS 17 “Insurance Contracts”	January 1, 2023
Amendments to IFRS 17	January 1, 2023
Amendments to IAS 1 “Classification of	January 1, 2023
Liabilities as Current or Non-current”
Amendemtns to IAS 1 “Disclosure of	January 1, 2023 (Note 6)
Accounting Policy“
Amendments to IAS 8 “Definition of	January 1, 2023 (Note 7)
Accounting Estimation“
Amendments to IAS 16 “Property, Plant and	January 1, 2022 (Note 4)
Equipment – Proceeds before Intended Use”
Amendments to IAS 37 “Onerous Contract –	January 1, 2022 (Note 5)
Costs of Fulfilling a Contract”
Note 1: Unless stated otherwise, the above New IFRSs are
effective for annual reporting periods beginning on or
after their respective effective dates.

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Note 2: The amendments to IFRS 9 are applied prospectively to modifications and exchanges of financial liabilities that occur on or after the annual reporting periods beginning on or after January 1, 2022. The amendments to IAS 41 “Agriculture” are applied prospectively to the fair value measurements on or after the annual reporting periods beginning on or after January 1, 2022. The amendments to IFRS 1 “First-time Adoptions of IFRSs” are applied retrospectively for annual reporting periods beginning on or after January 1, 2022.
Note 3: The amendments are applicable to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after January 1, 2022.
Note 4: The amendments are applicable to property, plant and equipment that are brought to the location and condition necessary for them to be capable of operating in the manner intended by management on or after January 1, 2021.
Note 5: The amendments are applicable to contracts for which the entity has not yet fulfilled all its obligations on January 1, 2022.
Note 6: The extension during the annual reporting period starting from January 1, 2023 applies to this amendment.
Note 7 : The change in accounting estimateion and accounting policy starting from January 1, 2023 applies to this amendment.

As of the date the consolidated financial statements were authorized for issue, the Group is continuously assessing the possible impact that the application of other standards and interpretations will have on the Group’s consolidated financial

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position and financial performance and will disclose the relevant impact when the assessment is completed.

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a. Statement of compliance
These interim consolidated financial statements have been
prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers.
b. Basis of preparation

The consolidated financial statements have been prepared on the historical cost basis except for financial instruments that are measured at fair value and net defined benefit liabi lities which are measured at the present value of the defined benefit obligation less the fair value of plan assets.

The fair value measurements are grouped into Levels 1 to 3 based on the degree to which the fair value measurement inputs are observable and the significance of the inputs to the fair value measurement in its entirety, which are described as follows:

1) Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities;
2) Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for an asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and
3) Level 3 inputs are unobservable inputs for an asset or liability.
c. Criteria classifying current/non-current assets and liabilities Current assets contain:
1) Assets held mainly for trading purposes;
2) Assets expected to realize in 12 months after the balance sheet day; and
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3) Cash and cash equivalents (but excluded those constricted for exchange or debt repayment after more than 12 months of the balance sheet day).
Current liabilities contain:
1) Liabilities held mainly for trading purposes;
2) Liabilities expected to realize in 12 months after the balance sheet day; and
3) Liabilities not able to defer the repayment deadline to more than 12 months after the balance sheet day unconditionally. Other items excluded from above are classified as non-current
assets or non-current liablities.

d. Basis of consolidation

The consolidated financial statements incorporate the financial statements of the Company and the entities controlled by the Company (i.e., its subsidiaries). Income and expenses of subsidiaries acquired or disposed of during the period are included in the consolidated statement of profit or loss and other comprehensive income from the effective dates of acquisitions up to the effective dates of disposals, as appropriate. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the Company. All intra-group transactions, balances, income and expenses are eliminated in full upon consolidation. Total comprehensive income of subsidiaries is attributed to the owners of the Company and to the noncontrolling interests even if this results in the non-controlling interests having a deficit balance.

Changes in the Group’s ownership interests in subsidiaries that do not result in the Group losing control over the subsidiaries are accounted for as equity transactions. The

20 -

carrying amounts of the interests of the Group and the noncontrolling interests are adjusted to reflect the changes in their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the Company.

When the Group loses control of a subsidiary, a gain or loss is recognized in profit or loss and is calculated as the difference between (i) the aggregate of the fair value of the consideration received and 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) and liabilities and any non-controlling interests of the former subsidiary at their carrying amounts at the date when control is lost. The Group accounts for all amounts recognized in other comprehensive income in relation to that subsidiary on the same basis as would be required if the Group had directly disposed of the related assets or liabilities.

Please refer to Note 13, Table 7, and Table 8 for detailed information on subsidiaries (including the percentages of ownership and main businesses).

e. Foreign currencies

In preparing the financial statements of each individual entity, transactions in currencies other than the entity’s functional currency (i.e., foreign currencies) are recognized at the rates of exchange prevailing at the dates of the transactions.

At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Exchange differences on monetary items arising from settlement or translation are recognized in profit or loss in the period.

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Non-monetary items measured at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when the fair value was determined. Exchange differences arising from the retranslation of nonmonetary items are included in profit or loss for the period except for exchange differences arising from the retranslation of non-monetary items in respect of which gains and losses are recognized directly in other comprehensive income, in which case, the exchange differences are also recognized directly in other comprehensive income.

Non-monetary items that are measured at historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.

For the of consolidated financial purpose presenting statements, the functional currencies of foreign operations (including subsidiaries and associates in other countries that use currencies which are different from the currency of the Group) are translated into the presentation currency, the New Taiwan dollar, as follows: Assets and liabilities are translated at the exchange rates prevailing at the end of the reporting period; and income and expense items are translated at the average exchange rates for the period. The resulting currency translation differences are recognized in other comprehensive income (attributed to the owners of the Group and non-controlling interests as appropriate).

On the disposal of a foreign operation (i.e., a disposal of the Group’s entire interest in a foreign operation, or a disposal involving the loss of control over a subsidiary that includes a foreign operation, or a partial disposal of an associate that includes a foreign operation of which the retained interest becomes a financial asset), all of the exchange differences

22 -

accumulated in equity in respect of that operation which are attributable to the owners of the Group are reclassified to profit or loss.

f. Inventories

Inventories consist of raw materials, finished goods and work in progress and are stated at the lower of cost or net realizable value. Inventory write-downs are made by item, except where it may be appropriate to group similar or related items. The net realizable value is the estimated selling price of inventories less all estimated costs of completion and costs necessary to make the sale. Inventories are recorded at the weighted-average cost on the balance sheet date.

g. Investments in associates

An associate is an entity over which the Group has significant influence and that is not a subsidiary.

The Group uses the equity method to account for its investments in associates. Under the equity method, investments in an associate are initially recognized at cost and adjusted thereafter to recognize the Group’s share of the profit or loss and other comprehensive income of the associate. The Group also recognizes the changes in the Group’s share of the equity of associates attributable to Group.

When the Company subscribes for additional new shares of an associate at a percentage different from its existing ownership percentage, the resulting carrying amount of the investment differs from the amount of the Group’s proportionate interest in the associate. The Group records such a difference as an adjustment to investments with the corresponding amount charged or credited to capital surplus - changes in capital surplus from investments in associates accounted for using the equity method. If the Group’s ownership interest is reduced due

23 -

to its additional subscription of the new shares of the associate, the proportionate amount of the gains or losses previously recognized in other comprehensive income in relation to that associate is reclassified to profit or loss on the same basis as would be required if the investee had directly disposed of the related assets or liabilities. When the adjustment should be debited to capital surplus, but the capital surplus recognized from investments accounted for using the equity method is insufficient, the shortage is debited to retained earnings.

When the Group’s share of losses of an associate equals or exceeds its interest in that associate (which includes any carrying amount of the investment accounted for using the equity method and long-term interests that, in substance, form part of the Group’s net investment in the associate), the Group discontinues recognizing its share of further losses. Additional losses and liabilities are recognized only to the extent that the Group has incurred legal obligations, or constructive obligations, or made payments on behalf of that associate. The entire carrying amount of an investment is tested for impairment as a single asset by comparing its recoverable amount with its carrying amount. Any impairment loss recognized forms part of the carrying amount of the investment. Any reversal of that impairment loss is recognized to the extent that the recoverable amount of the investment subsequently increases.

The Group discontinues the use of the equity method from the date on which its investment ceases to be an associate. Any retained investment is measured at fair value at that date, and the fair value is regarded as the investment’s fair value on initial recognition as a financial asset. The difference between the previous carrying amount of the associate attributable to the

24 -

retained interest and its fair value is included in the determination of the gain or loss on disposal of the associate. The Group accounts for all amounts previously recognized in other comprehensive income in relation to that associate on the same basis as would be required if that associate had directly disposed of the related assets or liabilities. When a group entity transacts with its associate, profits and losses resulting from the transactions with the associate are recognized in the Group’ consolidated financial statements only to the extent that interests in the associate are not related to the Group.

h. Property, plant and equipment

Property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment loss.

Property, plant and equipment in the course of construction are carried at cost less any recognized impairment loss. Cost includes professional fees and borrowing costs eligible for capitalization. Such assets are depreciated and classified to the appropriate categories of property, plant and equipment when completed and ready for their intended use.

Depreciation on property, plant and equipment is recognized using the straight-line method and unit of production method. Each significant part is depreciated separately. If a lease term is shorter than the assets’ useful lives, such assets are depreciated over the lease term. The estimated useful lives, residual values and depreciation methods are reviewed at the end of each reporting period, with the effects of any changes in the estimates accounted for on a prospective basis.

On derecognition of an item of property, plant and equipment, the difference between the sales proceeds and the carrying amount of the asset is recognized in profit or loss.

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i. Investment properties

Investment properties are properties held to earn rentals and/or for capital appreciation (included the right-of-use assets as definied for investment properites).

Investment properties are initially measured at cost, including transaction cost. Subsequent to initial recognition, investment properties are measured at cost less accumulated depreciation and accumulated impairment loss.

Investment properties acquired by rent was measured at original cost (included original measurements of lease liabilities and rent payment prior to the start of lease day). Subsequent measurement was based on the amount after the cost deducting accrued depreication and impairment loss and remeasurements of adjustments on lease liabilities.

Depreciation of all invesetment properties is recognized using the straight-line method.

For a transfer of classification from property, plant and equipment to investment properties, the deemed cost of an item of property from subsequent accounting is its carrying amount at the end of owner-occupation.

On derecognition of an investment property, the difference between the net disposal proceeds and the carrying amount of the asset is included in profit or loss.

j.

Goodwill

Goodwill acquired through M&A uses the goodwill value recognized on the M&A day as the cost, subsequently measured by cost deducting accrued impairment loss.

For purposes of impairment test, the goodwill shares to the Group benefits cash generation unit or its group due to integrative M&A effect (hereinafter referred to as the "cash generation unit").

26 -

The cash generation unit shared with the goodwill conducts impairment test through comparision between its face value containing goodwill and recoverable value every year (and the time with sign showing potential impairment). If the goodwill with such shares was acquired by corporate M&A, then, the unit should conduct impairment test at end of the year. If the recoverable amount of the cash generation unit with shared goodwill is less than its face value, firstly, the loss deducts the face value with shared goodwill, second, decrease the face value of each asset with respect of the proportion in the unit. Any impairment loss is recognized as the loss directly and goodwill impairment loss may not be reversed subsequently.

The disposal of profit/loss is defined by including disposal related goodwill value during operation of the cash generation unit with goodwill shares.

k. Intangible assets

Intangible assets with finite useful lives that are acquired separately are initially measured at cost and subsequently measured at cost less accumulated amortization and accumulated impairment loss. Amortization is recognized on a straight-line basis. The estimated useful lives, residual values, and amortization methods are reviewed at the end of each year, with the effects of any changes in the estimates accounted for on a prospective basis.

On derecognition of an intangible asset, the difference between the net disposal proceeds and the carrying amount of the asset are recognized in profit or loss.

l. Impairment of tangible and intangible assets other than goodwill

At the end of each reporting period, the Group reviews the carrying amounts of its tangible and intangible assets, excluding goodwill, to determine whether there is any indication that those

27 -

assets have suffered any impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss. When it is not possible to estimate the recoverable amount of an indivi dual asset, the Group estimates the recoverable amount of the cash - generating unit to which the asset belongs. Corporate assets are allocated to the smallest group of cash-generating units on a reasonable and consistent basis of allocation.

The recoverable amount is the higher of fair value less costs to sell and value in use. If the recoverable amount of an asset or cash-generating unit is estimated to be less than its carrying amount, the carrying amount of the asset or cash-generating unit is reduced to its recoverable amount, with the resulting impairment loss recognized in profit or loss.

When an impairment loss is subsequently reversed, the carrying amount of the corresponding asset or cash-generating unit is increased to the revised estimate of its recoverable amount, but only to the extent of the carrying amount that would have been determined had no impairment loss been recognized for the asset or cash-generating unit in prior years. A reversal of an impairment loss is recognized in profit or loss.

m. Financial instruments

Financial assets and financial liabilities are recognized when a group entity becomes a party to the contractual provisions of the instruments.

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to an acquisition or issuance of financial assets and financial liabilities (other than financial assets and financial liabilities at FVTPL) are added to or deducted from the fair value of the financial assets

28 -

or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at FVTPL are recognized immediately in profit or loss.

1) Financial assets

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

a) Measurement categories

Financial assets are classified into the following categories: Financial assets at FVTPL, financial assets at amortized cost and investments in equity instruments at FVTOCI.

i. Financial assets at FVTPL

Financial assets are classified as at FVTPL when such a financial asset is mandatorily classified as at FVTPL. Financial assets mandatorily classified as at FVTPL include investments in equity instruments which are not designated as at FVTOCI and derivative instruments and fund beneficiary certificates that do not meet the amortized cost criteria or the FVTOCI criteria.

Financial assets at FVTPL are subsequently measured at fair value, with any gains or losses arising on remeasurement recognized in profit or loss. The net gain or loss recognized in profit or loss does not incorporate any dividends or interest earned on such a financial asset. Fair value is determined in the manner described in Note 31.

ii. Financial assets at amortized cost

Financial assets that meet the following conditions are subsequently measured at amortized cost:

i) The financial asset is held within a business model

29 -

whose objective is to hold financial assets in order to collect contractual cash flows; and

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

Subsequent to initial recognition, financial assets at amortized cost, including cash and cash equivalents, notes receivable at amortized cost, trade receivables, other receivables, pledged time deposits and refundable deposits, are measured at amortized cost, which equals the gross carrying amount determined using the effective interest method less any impairment loss. Exchange differences are recognized in profit or loss.

Interest income is calculated by applying the effective interest rate to the gross carrying amount of a fi nancial asset, except for:

i) Purchased or originated credit-impaired financial assets, for which interest income is calculated by applying the credit adjusted effective interest rate to the amortized cost of such a financial asset; and
ii) Financial assets that are not credit impaired on purchase or origination but have subsequently become credit impaired, for which interest income is calculated by applying the effective interest rate to the amortized cost of such financial assets in subsequent reporting periods.

A financial asset is credit impaired when significant financial difficulty of the issuer or the borrower, breach of contract, it is becoming probable that the borrower will enter bankruptcy or undergo a financial

30 -

reorganization or the disappearance of an active market for that financial asset because of financial difficulties have occurred.

Cash equivalents include time deposits and reverse repurchase agreements collateralized by bonds, which are highly liquid, readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value. These cash equivalents are held for the purpose of meeting short-term cash commitments.

iii. Investments in equity instruments at FVTOCI

On initial recognition, the Group may make an irrevocable election to designate investments in equity instruments as at FVTOCI. Designation as at FVTOCI is not permitted if the equity investment is held for trading or if it is contingent consideration recognized by an acquirer in a business combination.

Investments in equity instruments at FVTOCI are subsequently measured at fair value with gains and losses arising from changes in fair value recognized in other comprehensive income and accumulated in other equity. The cumulative gain or loss will not be reclassified to profit or loss on disposal of the equity investments; instead, they will be transferred to retained earnings.

Dividends on these investments in equity instruments are recognized in profit or loss when the Group’s right to receive the dividends is established, unless the dividends clearly represent a recovery of part of the cost of the investment.

b) Impairment of financial assets

The Group recognizes a loss allowance for expected credit

31 -

losses on financial assets at amortized cost (including trade receivables).

The Group always recognizes lifetime expected credit losses (ECLs) for trade receivables. For all other financial instruments, the Group recognizes lifetime ECLs when there has been a significant increase in credit risk since initial recognition. If, on the other hand, the credit risk on a financial instrument has not increased significantly since initial recognition, the Group measures the loss allowance for that financial instrument at an amount equal to 12-month ECLs.

Expected credit losses reflect the weighted average of credit losses with the respective risks of default occurring as the weights. Lifetime ECLs represent the expected credit losses that will result from all possible default events over the expected life of a financial instrument. In contrast, 12month ECLs represent the portion of lifetime ECLs that is expected to result from default events on a financial instrument that are possible within 12 months after the reporting date.

For internal credit risk management purposes, the Group determines that the following situations indicate that a financial asset is in default (without taking into account any collateral held by the Group):

i. Internal or external information show that the debtor is unlikely to pay its creditors.
ii. When a financial asset is more than specific days past due unless the Group has reasonable and corroborative information to support a more lagged default criterion. The impairment loss of all financial assets is recognized in
profit or loss by a reduction in their carrying amounts
32 -

through a loss allowance account.

c) Derecognition of financial assets

The Group derecognizes a financial asset only when the contractual rights to the cash flows from the asset expire or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party.

On derecognition of a financial asset at amortized cost in its entirety, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss. On derecognition of an investment in an equity instrument at FVTOCI, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss, and the cumulative gain or loss which had been recognized in other comprehensive income is transferred directly to retained earnings, without recycling through profit or loss.

2) Equity Tool

The debt and equity tool was issued by the Group purs uant to the agreement and financial liability and equity tool are defined and classified as financial liability or equity.

It recognizes the amount after acquired prices deducting costs of direct issuance.

The equity tool that the Company acquired once again is recognized and deducted under equity items. The purchase, sales, issuance or cancellation of the same above is not recognized as the profit/loss.

3) Financial liabilities

a ) Subsequent measurement

Except the derivative instruments, all financial liabilities

33 -

are measured at amortized cost using the effective interest method.

The financial liability held for transactions was measured pursuant to fair price, wherein its profit or loss generated from remeasurements is recognized as other benefits and loss. For the way of fair price determination, please refer to Appendix 28.

b) Derecognition of financial liabilities

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

4) Derivative financial instruments

The Group enters into a variety of derivative financial instruments to manage its exposure to foreign exchange rate risks, including foreign exchange forward contracts.

Derivatives are initially recognized at fair value at the date the derivative contracts are entered into and are subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognized in profit or loss immediately. When the fair value of a derivative financial instrument is positive, the derivative is recognized as a financial asset; when the fair value of a derivative financial instrument is negative, the derivative is recognized as a financial liability.

n. Preparation for liabilities

The amount recognized as preparation for liabilities is considered with business risk and uncertainty, which is the best estimate for expenditure required for repayment obligations on the balance sheet day. The preparation for liablities is measured at the discount of cash flow estimated from repayment

34 -

obligations.

o. Revenue recognition

The Group identifies contracts with customers, allocates the transaction price to the performance obligations and recognizes revenue when performance obligations are satisfied. The refund liabilities are recognized at the time of sale based on the seller’s reliable estimate of future returns and based on past experience and other relevant factors.

1) Revenue from the sale of goods

Revenue from the sale of goods comes from the sale of Polyethylene plastic particles and other related products. The sale of goods above is recognized as revenue when the goods are delivered to a customer because it is the time when the customer has full discretion over the manner of distribution and the price to sell the goods, has the primary responsibility for sales to future customers and bears the risks of obsolescence. Trade prepayments are recognized as liabilities concurrently.

Revenue from processing with imported materials is not recognized as income due to the control over ownership of processing products not yet been transferred.

2) Service revenue

Service revenue comes from warehousing and transportation service of a variety of petrochemical materials consigned to operate; it is recognized in the provision of service.

p. Discontinued operations

A discontinued operation is a component of an entity that either has been disposed of or is classified as held for sale. A component of an entity which is for operational and financial has cash flows which can be reporting purposes clearly

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distinguished from the rest of the entity.

q. Leasing

At the inception of a contract, the Group assesses whether the contract is, or contains, a lease.

1) The Group as Lessor

Leases are classified as finance leases whenever the terms of a lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.

The Group uses the ownership assets (instead of target asset) to determine sublease category; however, provided that the lease applies to short-term lease free of tax shall be categorized as operating lease.

Lease payments from operating leases are recognized as income on a straight-line basis over the terms of the relevant leases.

The variable rent not depending on the rate under a lease agreement is recognized as revenue for the year.

2) The Group as Lessee

The Group recognizes right-of-use assets and lease liabilities for all leases at the commencement date of a lease, except for short-term leases and low-value asset leases accounted for applying a recognition exemption where lease payments are recognized as expenses on a straight-line basis over the lease terms.

Right-of-use assets are initially measured at cost, which comprises the initial measurement of lease liabilities adjusted for lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs

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needed to restore the underlying assets, and less any lease incentives received. assets are Right-of-use subsequently measured at cost less accumulated depreciation and impairment losses and adjusted for any remeasurement of the lease liabilities. Right-of-use assets are presented on a separate line in the consolidated balance sheets. For the recognization and measurement of right-of-use asset as defined for investment properties, please refer to i. Invesetment Properties Accounting Policy.

Right-of-use assets are depreciated using the straight-line method from the commencement dates to the earlier of the end of the useful lives of the right-of-use assets or the end of the lease terms.

Lease liabilities are initially measured at the present value of the lease payments, which comprise fixed payments, variable lease payments which depend on an index or a rate. The lease payments are discounted using the interest rate implicit in a lease, if that rate can be readily determined. If that rate cannot be readily determined, the Group uses the lessee’s incremental borrowing rate.

Subsequently, lease liabilities are measured at amortized cost using the effective interest method, with interest expense recognized over the lease terms. When there is a change in a lease term, or a change in future lease payments resulting from a change in an index or a rate used to determine those payments, the Group remeasures the lease liabilities with a corresponding adjustment to the right-of-use-assets. However, if the carrying amount of the right-of-use assets is reduced to zero, any remaining amount of the remeasurement is recognized in profit or loss. Lease liabilities are presented on a separate line in the consolidated balance sheets.

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Variable lease payments that do not depend on an index or a rate are recognized as expenses in the periods in which they are incurred.

r . Borrowing costs

Borrowing costs directly attributable to an acquisition, construction or production of qualifying assets are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Other than that which is stated above, all other borrowing costs are recognized in profit or loss in the period in which they are incurred.

s.

Government allowance

Government allowance is not usually recognized, unless it is reasonable to be certain that the Group will follow supplemental conditions for the same and it is receivable.

Revenue-related government allowance is recognized as the profit/loss based on system with attempted compensation of related costs recognized as expenditure by the Group. Government allowance on condition of non-current assets in Group's procurement, construction or otherwise is recognized as deferred revenue, or profit/loss for useful life of related assets systemically.

If government allowance is used to compensate expenditure or loss, or for immediate financial support to the Group without upcoming related cost, it is recognized as profit/loss during collectable period.

t. Employee benefits

1) Short-term employee benefits

Liabilities recognized in respect of short-term employee benefits are measured at the undiscounted amount of the

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benefits expected to be paid in exchange for the related services.

2) Retirement benefits

Payments to defined contribution retirement benefit plans are recognized as expenses when employees have rendered service entitling them to the contributions.

Defined benefit costs (including service cost, net interest and remeasurement) under the defined benefit retirement benefit plans are determined using the projected unit credit method. Service cost (including current service cost) and net interest on the net defined benefit liabilities (assets) are recognized as employee benefits expenses in the period in which they occur. Remeasurement, comprising actuarial gains and losses and the return on plan assets (excluding interest), is recognized in other comprehensive income in the period in which it occurs. Remeasurement recognized in other comprehensive income is reflected immediately in retained earnings and will not be reclassified to profit or loss.

Net defined benefit liabilities (assets) represent the actual deficit (surplus) in the Group’s defined benefit plans.

u. Share-based Payment Agreement

The equity-settled share-based payment transaction for employee given by the Group is measured at the fair value of equity tool on the given day.

Employee subscription right is recognized as expenses on straight basis over the given period pursuant to the fair value of equity tool on the given day and the best quantity forecast as expected, while making adjustments on the equity out of control. If it is acquired on the given day, all of them are recognized as expense on the given day.

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The Group amends the expected employee stock option forecast on balance sheet effect from every day. Any amendments to original forecast is recognized as profit/loss to reflect accrued expenses and make adjustment on the equity out of control.

v. Taxation

Income tax expense represents the sum of the tax currentl y payable and deferred tax.

1) Current tax

The Group determines proceeds (loss) of current period pursuant to the Law and Regulation prescribed in every income tax declaration region and calculates tax payable (recoverable).

According to the Income Tax Law, an additional tax on unappropriated earnings is provided for in the year the shareholders approve to retain earnings.

Adjustments of prior years’ tax liabilities are added to or deducted from the current year’s tax provision.

2) Deferred tax

Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities and the corresponding tax bases used in the computation of taxable profit.

Deferred tax liabilities are generally recognized for all taxable temporary differences. Deferred tax assets are generally recognized for all deductible temporary differences to the extent that it is probable that taxable profit will be available against which those deductible temporary differences can be utilized.

Deferred tax liabilities are recognized for taxable temporary differences associated with investments in subsidiaries and

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associates, except where the Group is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such investments and interests are only recognized to the extent that it is probable that there will be sufficient taxable profit against which to utilize the temporary differences and they are expected to reverse in the foreseeable future.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the assets to be recovered. A previously unrecognized deferred tax asset is also reviewed at the end of each reporting period and recognized to the extent that it has become probable that future taxable profit will allow the deferred tax asset to be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liabilities are settled or the assets are realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Group expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

3) Current and deferred taxes for the year

Current and deferred taxes are recognized in profit or loss, except when they relate to items that are recognized in other comprehensive income or directly in equity, in which case, the

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current and deferred tax are also recognized in other comprehensive income or directly in equity, respectively.

5. CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF

ESTIMATION UNCERTAINTY

In the application of the Group’s accounting policies, management is required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates.

The Group has considered the economic implications of COVID-19 on critical accounting estimates and will continue evaluating the impact on its financial position and financial performance as a result of the pandemic. In addition, the same critical accounting judgments and key sources of estimates and uncertainty have been followed in these consolidated financial statements as were applied in the preparation of the Group’s consolidated financial statements Year 2020.

Key Sources of Estimation Uncertainty

a. Impairment loss estimates of trade receivables

The impairment loss estimates of trade receivable is assumed on the basis of the Group for breach of contract rate and expected loss rate. With historic experience, current market and prospects are considered, the Group makes assumption and chooses input of impairment evaluation. If the actual cash flow in future is less as expected, the Group may cause material impairment loss. Refer to Note 10 for the Group's adoption of important hypothesis, inputs and carrying amount.

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b. Inventory Impairment

As a result that inventory requires pricing at lower one between cost and net realized value; hence, the Group has to judge and estimate the net realization of inventory at the end of financial statements. The Group evaluated inventory price due to normal consumption, overdue or no market value as of the end of financial statements and write down inventory cost to net realization. This evaluation is mainly based on product historic sales experiences and in demand during upcoming specified period, as such significant change might derive. Refer Note 11 for the carrying amount of the Group's inventory.

c. Impariment evaluation of properties, plant and equipment

During asset impairment evaluation, the Group shall rely on subjective judgment to determine the useful life of independent cash flow asset under specified asset group with the way of use of asset and industry characteristics; any change of evaluation brought by varied economic condition or company strategy may generate significant impairment in future.

6. CASH AND CASH EQUIVALENTS

Cash on hand and petty cash Checking accounts and demand deposits Cash equivalents Time deposits Reserve repurchase agreements collateralized by bonds	December 31, 2020 $ 155,049 3,065,872 6,392,905 23,181 $ 9,637,007	December 31, 2019	December 31, 2019
			$ 74,250 2,174,906 5,463,246 215,001 $ 7,927,403

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FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH PROFIT

At the end of the reporting period, the ranges of the market rates for bank deposits and reserve repurchase agreements collateralized by bonds were as follows:

Bank deposits Reserve repurchase agreements collateralized by bonds	December 31, 2020 0.07%`～`2.30% 0.15%`～`1.20%	December 31, 2019 0.10%`～`3.75% 0.58%`～`1.90%

OR LOSS - CURRENT

OR LOSS-CURRENT
Financial assets mandatorily at FVTPL Derivative financial assets (not under hedge accounting) Foreign exchange forward contracts Non-derivative financial assets Domestic listed shares and over- the-counter shares Mutual funds Beneficiary securities Overseas listed shares Financial liabilities held for trading Derivative financial liabilities (not under hedge accounting) Foreign exchange forward contracts	December 31, 2020 $ 5,328 506,763 4,765,536 233,670 386 5,506,355 $ 5,511,683 $ 20,724	December 31, 2019
			$ 14,066 364,057 4,907,560 1,071,797 545 6,343,959 $ 6,358,025 $ 4,136

At the end of the reporting period, outstanding foreign exchange forward contracts not under hedge accounting were as follows:

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December 31, 2020 Sell Sell Sell Sell Buy Buy December 31, 2019 Sell Sell Sell Sell Buy Buy	Currency RMB/NTD USD/MYR USD/NTD EUR/MYR JPY/USD NTD/USD RMB/NTD USD/MYR USD/NTD EUR/MYR JPY/USD NTD/USD	MaturityDate 2021.01.05-2021.04.07 2021.03.31-2021.08.30 2021.01.04-2021.03.18 2021.05.28-2021.07.30 2021.01.13-2021.01.27 2021.01.04-2021.03.02 2020.01.01-2020.03.30 2020.03.31-2020.06.30 2020.01.03-2020.03.24 2020.03.31-2020.06.30 2020.01.06-2020.01.22 2020.01.13-2020.03.04	Notional Amount (In Thousands)
			RMB 254,260 /NTD 1,089,330 USD 550 /MYR 2,313 USD 35,790 /NTD 1,014,569 EUR 284 /MYR 1,399 JPY 40,000 /USD 385 NTD 211,769 /USD 7,471 RMB 237,700 /NTD 1,020,283 USD 865 /MYR 3,626 USD 41,000 /NTD 1,241,134 EUR 224 /MYR 1,041 JPY 40,000 /USD 368 NTD 285,868 /USD 9,480

The Group entered into foreign exchange forward contracts to manage exposures to exchange rate fluctuations of foreign currency denominated assets and liabilities. However, those contracts did not meet the criteria of hedge effectiveness, and therefore, the Group did not apply hedge accounting treatments for derivative contracts.

8. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

COMPREHENSIVE INCOME
Current Investments in equity instruments at FVTOCI Domestic investments Domestic listed shares and over-the-counter shares Non-current Investments in equity instruments at FVTOCI Domestic investments Listed shares and over-the- counter shares Emerging market shares Unlisted shares	December 31, 2020 $ 164,922 $ 1,529,883 9,626 720,833 2,260,342	December 31, 2019 $ 174,789 $ 1,439,624 16,178 632,134 2,087,936 (Continued)

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Overseas investments Listed shares and over-the- counter shares Unlisted shares	December 31, 2020 30,566 102,826 133,392 $ 2,393,734	December 31, 2019	December 31, 2019
			8,649 100,139 108,788 $ 2,196,724

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

The Group sold 5,745 thousand shares of United Renewable Energy Co., Ltd. and 1,734 thousand shares of Global BioPharma, INC. during the year ended December 31, 2020. The related other equity interests – the $115,837 thousand unrealized loss on FVTOCI financial assets was transferred to $78,078 thousand of retained earnings and $37,759 thousand of non-controlling interests.

The Group sold 100 thousand shares of CTCI Corporation, 684 thousand shares of Silicon Techhnology Investment (Cayman) Corp. and 684 thousand shares of Global BioPharma, Inc. during the year ended December 31, 2019. The related other equity interests – the $50,215 thousand unrealized loss on FVTOCI financial assets was transferred to $31,350 thousand of retained earnings and $18,865 thousand of non-controlling interests.

The investees announced a reduction of capital by returning cash during the years ended December 31, 2020 and 2019, and the Group received $83,402 thousand and $52,423 thousand, respectively, according to its ownership percentage.

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The Group recognized dividend income of $113,543 thousand and $113,647 thousand, respectively, for the years ended December 31, 2020 and 2019.

Please refer to Note 36 for the information related to financial assets at FVTOCI pledged as security.

9. FINANCIAL ASSETS MEASURED AT AMORTIZED COST

Current Pledged time deposits Financial products Non-current Constricted bank deposits Range of interest rates Pledged time deposits Financial products	December 31, 2020 $ 348,450 - $ 348,450 $ 390,828 0.04%`～`1.85% -	December 31, 2019 $ 347,981 158,148 $ 506,129 $ 311,942 0.09%`～`3.75% 3.00%`～`3.20%

Constricted bank deposit means the subsidiary's earning repatriation and for Taiwan Water Corporation's petition of provisional attachment with the court due to gas explosion case. The Group's filed applying to the Management, Utilization and Taxation for Patriated Offshore Funds Act was approved to repatriate the funds by the Ministry of Finance in 2020 and deposited the net value after tax to foreign exchange deposit account. The deposit is limited for free utilization by laws and regulations that three-year withdrawal is not permitted until five years of the deposit, except for financial investment or physical investments with partially free utilization by law.

The trading partners of the Group are financial institutions with good credit ratings, and the short-term financial products invested in are with bank guaranteed principal and interests. The

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credit risk has been assessed by investigating the final capital destination and its impacts on principal and interests. After assessing that the time deposits have low credit risk, no allowance for loss is recognized.

Please refer to Note 36 for the information related to financial assets measured at amortized cost pledged as security.

10. NOTES RECEIVABLE, ACCOUNTS RECEIVABLE AND OTHER

RECEIVABLES

RECEIVABLES
Notes receivable (a) At amortized cost Gross carrying amount Less: Allowance for impairment loss Accounts receivable (a) At amortized cost Gross carrying amount Less: Allowance for impairment loss Other receivables (b) Tax refund receivable Lent material fees receivable Others	December 31, 2020 $ 671,576 - $ 671,576 $ 6,900,396 ( 90,056) $ 6,810,340 $ 208,290 27,067 58,102 $ 293,459	December 31, 2019 $ 634,435 - $ 634,435 $ 6,504,725 ( 93,648) $ 6,411,077 $ 209,112 - 68,019 $ 277,131
	(	(

a. Notes and accounts receivable

The average credit period of sales of goods was 10 to 150 days. No interest was charged on the receivables.

In order to minimize credit risk, the management of the Group has delegated a team responsible for determining credit limits, credit approvals and other monitoring procedures to ensure that follow-up action is taken to recover overdue debts.

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Before accepting a new customer, the Group surveys the customers’ credit history and measures the potential customer’s credit quality to grant a credit term. A customer’s credit term and rating are reviewed annually. In addition, the Group reviews the recoverable amount of each individual trade debt at the end of the reporting period to ensure that adequate allowance is made for possible irrecoverable amounts. In this regard, the management believes the Group’s credit risk is significantly reduced.

The Group applies the simplified approach to the recognition of allowances for expected credit losses during the reporting period. The expected credit losses on trade receivables are estimated using an allowance matrix by reference to past default experience with the respective debtors and an analysis of the debtors’ current financial positions, adjusted for general economic conditions of the industry in which the debtors operate and an assessment of both the current as well as the forecasted direction of economic conditions at the reporting date. As the Group’s historical credit losses experience does not show significantly different loss patterns for different customer segments, the loss allowance, which is based on the past due status of receivables, is not further distinguished according to different segments of the Group’s customer base.

The Group writes off a trade receivable when there is information indicating that the debtor is experiencing severe financial difficulty and there is no realistic prospect of recovery. For trade receivables that have been written off, the Group continues to engage in enforcement activity to attempt to recover the receivables which are due. Where recoveries are made, they are recognized as profit or loss.

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The following table details the loss allowance of trade receivable based on the Group’s allowance matrix: December 31, 2020

Based on the number of overdue days

Gross carrying amount Loss allowance (Lifetime ECLs) Amortized cost	Upto 60 Days $ 2,826,907 ( 4,651) $ 2,822,256	61`～`90 Days $ 440 - $ 440	Over 90 Days $ 7,138 ( 4,305) $ 2,833		Total
	(		(	(	$ 2,834,485 8,956) $ 2,825,529

Based on credit quality

Gross carrying amount Loss allowance (Lifetime ECLs) Amortized cost	Credit Rating A	Credit Rating A	Credit Rating B	Credit Rating B	Credit Rating C	Credit Rating C		Others		Total
	(	$ 384,617 4,435) $ 380,182	(	$ 1,346,480 6,909) $ 1,339,571	(	$ 334,029 6,157) $ 327,872	(	$ 2,672,361 63,599) $ 2,608,762	(	$ 4,737,487 81,100) $ 4,656,387

December 31, 2019

Based on the number of overdue days

Gross carrying amount Loss allowance (Lifetime ECLs) Amortized cost	Upto 60 Days $ 3,033,751 ( 4,651) $ 3,029,100	61`～`90 Days $ 1,120 - $ 1,120	Over 90 Days $ 3,661 ( 2,186) $ 1,475		Total
	(		(	(	$ 3,038,532 6,837) $ 3,031,695

Based on credit quality

Gross carrying amount Loss allowance (Lifetime ECLs) Amortized cost	Credit Rating A	Credit Rating A	Credit Rating B	Credit Rating B	Credit Rating C	Credit Rating C		Others		Total
	(	$ 423,655 4,753) $ 418,902	(	$ 841,666 5,327) $ 836,339	(	$ 728,221 6,117) $ 722,104	(	$ 2,107,086 70,614) $ 2,036,472	(	$ 4,100,628 86,811) $ 4,013,817

The aging schedule of notes and accounts receivable with loss reserve measured based on credit quality was as follows:

Not past due Up to 60 days Over 60 days	December 31, 2020 $ 4,220,397 357,902 159,188 $ 4,737,487	December 31, 2019	December 31, 2019
			$ 3,874,348 147,019 79,261 $ 4,100,628

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The above aging schedule was based on the number of overdue days from the end of credit term.

Movements in the allowance for impairment loss recognized on notes and accounts receivable were as follows:

Balance at January Less: Impairment losses reversed Less: Amounts written off during the period as uncollectible Foreign exchange Translation gains and losses Balance on December 31	Year 2020 $ 93,648 ( 2,415 ) ( 1,170 ) ( 7) $ 90,056	Year 2019
		$ 111,779 ( 4,115 ) ( 13,449 ) ( 567) $ 93,648

b. Other receivables

Other receivables mainly consisted of tax refund receivable, lent material fees receivable, refunds from capital reduction of financial products, government grants receivable, etc. The average aging of other receivables was less tha n 60 days based on the number of days past due from the invoice date, and an impairment loss was assessed based on the expected credit losses. There were no other overdue receivables with an unrecognized allowance for doubtful accounts in the Group as of December 31, 2020 and 2019.

11. INVENTORIES

INVENTORIES
Finished goods Work in progress Raw materials Supplies Inventory in transit	December 31, 2020 $ 2,068,989 387,559 1,345,791 331,030 162,859 $ 4,296,228	December 31, 2019
			$ 2,728,069 350,133 1,315,085 317,289 208,930 $ 4,919,506

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The costs of inventories recognized as cost of goods sold for the years ended December 31, 2020 and 2019 were $39,721,391 thousand and $48,924,372 thousand, respectively.

The inventory net realization write-down contained in sales cost Year 2020 was $24,765 thousand; the reversal of inventory net realization write-downs Year 2019 was $22,017 thousand. Previous write-downs were reversed as a result of increased selling prices in certain markets.

12. DISCONTINUED OPERATIONS

On October 24, 2011, the board of directors of China General Plastics Corporation (“CGPC”) approved to dispose of CGPC (Zhong Shan) Co., Ltd. and CGPC Consumer Products Corporation. The details of the profit (loss) from discontinued operations and the related cash flow information were as follows:

The operating performance of the discontinued operations included in the consolidated statements of comprehensive income was as follows:

was as follows:
Administrative expenses Loss from operations Non-operating income Net profit (loss) from discontinued operations		Year 2020 $ 20,853) 20,853 ) 25,126 $ 4,273		Year 2019
	( (		( (	$ 28,650) 28,650 ) 32,825 $ 4,175

For the years ended December 31, 2020 and 2019, the cash flows which can be attributed to the discontinued operations were as follows:

as follows:
Net cash generated from operating activities Net cash generated from investments Effect of exchange rate changes Net cash inflow	For the Years Ended December 31,2020 $ 16,339 - 1,763 $ 18,102	For the Years Ended December 31,2019
		(	$ 9,674 411 3,234) $ 6,851

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13. SUBSIDIARIES

a. Subsidiaries included in the consolidated financial statements:

Investor	Investee	Name of Activities		Proportion of Ownership (%) December 31,2020 December 31,2019 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 99.9% 99.9% 100.0% 100.0% 100.0% 100.0% 94.4% 93.2% 100.0% 100.0% - 30.4% - 10.0% - 10.0% - 30.4% - 15.0% - 95.8% 70.0% 70.0% 8.3% 8.3% 78.3% 78.3% 40.6% 40.6% 8.0% 8.0% 4.9% 0.4% 53.5% 49.0% 26.9% 26.9% 1.7% 1.7% 9.3% 9.3% 3.3% 3.3% 2.4% 2.4% 1.0% 1.0% 44.6% 44.6% 50.9% 50.9% 34.0% 34.0% 9.2% 9.2% 0.2% 0.2% 94.3% 94.3% 51.3% 51.3% 16.6% 16.6%	Remark
				December 31,2020 100.0% 100.0% 100.0% 100.0% 99.9% 100.0% 100.0% 94.4% 100.0% - - - - - - 70.0% 8.3% 78.3% 40.6% 8.0% 4.9% 53.5% 26.9% 1.7% 9.3% 3.3% 2.4% 1.0% 44.6% 50.9% 34.0% 9.2% 0.2% 94.3% 51.3% 16.6%
The Company Cypress Epoch Limited The Company Taita Chemical Company, Ltd. China General Plastics Corporation Asia Polymer Corporation Taiwan United Venture Capital Corp. The Company Asia Polymer Corporation (“APC”) The Company Asia Polymer Corporation USIFE Investment Co., Ltd. The Company China General Plastics Corporation USIFE Investment Co., Ltd. Asia Polymer Corporation Taita Chemical Company, Ltd. APC Investment Corporation The Company Acme Electronics Corp. Asia Polymer Corporation USIFE Investment Co., Ltd Acme Electronics Corp. APC (BVI) Holding Co., Ltd.	USIFE Investment Co., Ltd. (“USII”) Swanlake Traders Ltd. `（`Swanlake`）` USI (Hong Kong) Company Limited USI Management Consulting Corp (“UM”) Chong Loong Trading Co., Ltd. (“CLT”) Union Polymer Int’l Investment Corp. (“UPIIC) Cypress Epoch Limited Inoma Corporation (“INOMA”) Usig (Shanghai) Co., Ltd. Thintec Materials Corporation (“TMC”) Taiwan United Venture Capital Corp. (“TUVC”) Swanson Plastics Corp. (“SPC”) Acme Electronics Corp. (“ACME”) USI Optronics Corporation (“USIO”) ACME Electronics (Cayman) Corp.	Investment business Trading and investment Trading and investment Providing management services Import and export trade Investment business Investment business Optical products and fireproof materials business Import and distribution of various chemical raw materials and products Reinforced plastic products manufacturing Venture capital Production and marketing of stretch film, embossed film and industrial use multi- layer wrap Production and marketing of manganese-zinc soft ferrite powder Manufacturing and marketing of sapphire crystal Reinvestment business			11 and 14 1. 13 3. 2. 12.

(Continued)

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Investor	Investee	Name of Activities		Proportion of Ownership (%) December 31,2020 December 31,2019 Remark 11.2% 11.2% 5.4% 5.4% 84.5% 84.5% 100.0% 100.0% - 100.0% 4. 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 36.1% 36.1% 0.9% 0.9% 0.3% 0.3% - - 37.3% 37.3% 12. 100.0% 100.0% 70.0% 70.0% 30.0% 30.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 36.8% 36.8% 0.6% 0.6% 0.4% 0.4% 37.8% 37.8% 12. 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 7. 25.0% 25.0% 8.0% 8.0% 2.0% 2.0% 0.5% 0.5% (Continued)	Remark
				December 31,2020 11.2% 5.4% 84.5% 100.0% - 100.0% 100.0% 100.0% 36.1% 0.9% 0.3% - 37.3% 100.0% 70.0% 30.0% 100.0% 100.0% 100.0% 36.8% 0.6% 0.4% 37.8% 100.0% 100.0% 100.0% 25.0% 8.0% 2.0% 0.5%
Swanlake Traders Ltd. TAITA (BVI) Holding Co,Ltd. Acme Electronics Corp. ACME Electronics (Cayman) Corp. Golden Amber Enterprises Limited Union Polymer Int’l Investment Corp. China General Terminal & Distribution Co. USIFE Investment Co., Ltd. Taiwan VCM Corporation Asia Polymer Corporation Asia Polymer Corporation APC (BVI) Holding Co., Ltd. Asia Polymer Corporation APC (BVI) Holding Co., Ltd. Union Polymer Int’l Investment Corp. China General Terminal & Distribution Co. USIFE Investment Co., Ltd. Taita Chemical Company, Ltd. TAITA (BVI) Holding Co, Ltd. Union Polymer Int’l Investment Corp. Asia Polymer Corporation Taita Chemical Company, Ltd. China General Terminal & Distribution Co.	Golden Amber Enterprises Limited ACME Electronics (BVI) Corp. Acme Electronics (Kunshan) Co., Ltd. ACME Components (Malaysia) Sdn.Bhd. Acme Electronics (Guang- Zhou) Co., Ltd. Asia Polymer Corporation (“APC”) APC (BVI) Holding Co., Ltd. (“APC (BVI)”) USI International Corp. APC Investment Corporation USI Trading`（`Shanghai`）` Co.,Ltd. Taita Chemical Company, Ltd. (“TTC”) TAITA (BVI) Holding Co, Ltd.`（`TAITA (BVI)`）` Taita Chemical (Zhong Shan) Co., Ltd. (“TAITA (ZS)”) Taita Chemical (Tianjin) Co., Ltd. (“TAITA (TJ)”) China General Plastics Corporation (“CGPC”)	Reinvestment business Reinvestment business Manufacturing and marketing of manganese-zinc soft ferrite core Reinvestment business Manufacturing and marketing of manganese-zinc soft ferrite core Production and marketing of low-density polyethylene, medium-density polyethylene, ethylene vinyl acetate and importing and marketing of linear low- density polyethylene and high-density polyethylene Reinvestment business Reinvestment business Investment business Management of chemical products, equipment and plastic products and whole sale of electronic materials, commission agency services and related supporting import and export services Production and marketing of polystyrene, acrylonitrile, butadiene, ABS resin, SAN resin, glass wool insulation products and plastic materials Reinvestment business Production and marketing of polystyrene derivatives Production and marketing of polystyrene derivatives Production and marketing of plastic cloths, plastic skins, plastic tubes, plastic pellets, plastic powder and other related products

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Investor	Investee	Name of Activities		Proportion of Ownership (%) December 31,2020 December 31,2019 Remark 0.1% 0.1% 35.6% 35.6% 12. 87.2% 87.2% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 6. 100.0% 100.0% 6. 33.3% 33.3% 33.3% 33.3% 33.4% 33.4% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% - 100.0% 9. 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 1.0% 1.0% 99.0% 99.0% 100.0% 100.0% 70.0% 70.0% 15.0% 15.0% 15.0% 15.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% (Continued) 100.0% 100.0%	Remark
				December 31,2020 0.1% 35.6% 87.2% 100.0% 100.0% 100.0% 100.0% 100.0% 33.3% 33.3% 33.4% 100.0% 100.0% 100.0% - 100.0% 100.0% 100.0% 100.0% 1.0% 99.0% 100.0% 70.0% 15.0% 15.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
USIFE Investment Co., Ltd. China General Plastics Corporation CGPC (BVI) Holding Co., Ltd. China General Plastics Corporation Taita Chemical Company, Ltd. Asia Polymer Corporation USIFE Investment Co., Ltd. ACME Components (Malaysia) Sdn.Bhd. Chong Loong Trading Co., Ltd. Swanson Plastics Corp. Swanson Plastics Corp. Swanson Plastics Company Ltd. (Singapore) Swanson Plastics Corp. APC Investment Corporation USIFE Investment Co., Ltd. Swanson Plastics Company Ltd. (Singapore) Swanson International Ltd.	Taiwan VCM Corporation (“TVCM”) CGPC (BVI) Holding Co., Ltd. CGPC America Corporation CGPC Polymer Corporation (“CGPCP”) CGPC (Chung Shan) Co., Ltd. (“CGPC (CS)”) Chung Shan CGPC Polymer Co., Ltd. (“Chung Shan (GPCP)”) China General Terminal & Distribution Co. Taiwan United Venture Management Corp. (“TUVM”) ACME Ferrite Products Sdn.Bhd`（`ACME Ferrite`）` Forum Pacific Trading Ltd. Curtana Company Ltd. Forever Young Company Ltd. Swanson Plastics Company Ltd. (Singapore) Swanson International Ltd. PT. Swanson Plastics Indonesia Ltd. Swanson Technologies Corporation Swanson Plastics (Malaysia) Sdn.Bhd. Swanson Plastics (India) Private Limited Swanson Plastics (Tianjin) Co., Ltd. A.S. Holdings (UK) Limited Swanson Plastics (Kunshan) Corp.	Manufacture and marketing of vinyl chloride monomer and related petrochemical products Reinvestment business Marketing of PVC two- or three-time processed products Manufacture and marketing of PVC powder Manufacture and marketing of PVC plastic cloths and three-time processed products Manufacture and marketing of PVC plastic cloths and three-time processed products Warehousing petrochemical raw materials Business management consulting Manufacture and marketing of soft ferrite core Engaging in import and export trade Reinvestment business Import and export agency services Production and marketing of plastic products Engaging in import and export trade Production and marketing of plastic products Production, marketing and development of EVA packaging film and other value added plastic products Production and marketing of plastic products Production and marketing of plastic products Production, marketing and development of multi- functional film and light- solution film Reinvestment Production, marketing and development of multi- functional film and light-

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Investor	Investee	Name of Activities		Proportion of Ownership (%) December 31,2020 December 31,2019 100.0% 100.0% 59.1% 63.1% 40.9% 36.9% 100.0% 100.0% 67.4% 80.0% 85.0% 89.9%	Remark
				December 31,2020 100.0% 59.1% 40.9% 100.0% 67.4% 85.0%
A.S. Holdings (UK) Limited The Company Asia Polymer Corporation Ever Conquest Global Limited Ever Victory Global Limited	API-Swanson (Kunshan) Co., Ltd. Ever Conquest Global Limited (“ECGL”) Ever Victory Global Limited (“EVGL”) Dynamic Ever Investments Limited (“DEIL”)	solution film Management of PE release film and other release products’ production and sales Investment business Investment business Investment business			10. 10., 11 and 15. 10. and 11.

1) In June 2020, the Company acquired 1.2% of shares from the external shareholders of INOMA, acquired price being $349 thousand. After the equity purchase, the proportion of INOMA’s equity held by the Group increased from 93.2% to 94.4%. As these transactions did not change the Group’s control over these subsidiaries, they are deemed as equity transactions. Differences generated from the aforementioned equity transactions were adjusted to a decrease in retained earnings of $65 thousand.
2) In 2020, USI Corporation acquired 4.5% of shares from the external shareholders of Swanson Plastics Corporation (SPC) based on middle-to-long investment strategy and thus acquired price being $84,399 thousand.
3) TMC has had no actual production or sales activities in recent years. Therefore, on April 12, 2019, the board of directors of TMC had approved the proposal for dissolution and liquidation of the company starting from the dissolution date of May 25, 2019. The Group has obtained $12,214 thousand of the remaining property distribution from liquidation in May 2020, and TMC has completed the dissolution and liquidation procedures on July 22, 2020.
4) In June 2020, ACME obtained the remaining assets of $267 thousand returned by its subsidiary ACME Electronics
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(BVI)Corp., which completed its process of liquidation in June 2020.

5) In July 2019, CGPC obtained the remaining assets of $78,556 thousand returned by its subsidiary Krystal Star International Corporation, which completed its process of liquidation in December 2019.
6) CGPC disposed of CGPC (CS) and CGPCP as approved in the meeting of the board of directors in October 2011. CGPC (CS) and CGPCP had not completed the process of liquidation as of December 31, 2020.
7) As TTC assessed that there is shrinking demand in the local market for expanded polystyrene (EPS), which is the main product produced by its subsidiary Taita Chemical (Tianjin) Co., Ltd. (“TTC (Tianjin)”), TTC’s management decided to suspend production from TTC (Tianjin) starting April 2019. Please refer to Note 15 for the details.
8) The boards of TAITA (BVI) and Taita Chemical (ZhongShan) Co., Ltd. resolved on November 3, 2020 and to establish a new company, each investing RMB 157,000 thousand and holding 50% of the shares. The main business of the new company is expected to be the production and sales of expandable polystyrene (EPS). To strive for the best investing efficiency, the Boards of TAITA (BVI) approved the resolution of changing preceding investment proposal to establish a new company by sole investment of TAITA (BVI) on December 3, 2020, but yet to complete it till March 22, 2021.
9) In September 2019, the management of Forum Pacific Trading Ltd. approved its dissolution and liquidation, and returned the remaining assets of $6,828 thousand in May
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Forum Pacific Trading Ltd. had completed the process of liquidation on December 29, 2020.
10) As of December 31, 2020, the Company and APC invested capital amounted to US$246,670 thousand (around NT$7,645,981 thousand) and US$170,475 thousand (around NT$5,255,587 thousand) in ECGL, respectively, and reinvested in EVGL via ECGL as well as in DEIL. The total ownership percentage of the Group in EVGL is 67.4%. For more detailed explanation, please refer to Note 11 and Note 38.
11) ECGL subscribed for additional new shares of EVGL at a percentage different from its existing ownership percentage in May and August 2019, and reinvested in DEIL through EVGL at a percentage different from its existing ownership percentage in June and August 2019. After the capital increases, the Group’s ownership percentage in EVGL increased from 77.5% to 80.0%, while EVGL’s ownership percentage in DEIL decreased from 100% to 89.9%. As these transactions did not change the Group’s control over these subsidiaries, they are deemed as equity transactions. Differences generated from the aforementioned equity transactions were adjusted to increases in capital surplus of $4,275 thousand and decreases in retained earnings of $1,191 thousand.

ECGL subscribed for additional new shares of EVGL at a percentage different from its existing ownership percentage in March and December 2020, and reinvested in DEIL through EVGL at a percentage different from its existing ownership percentage in April and December 2020. After the capital increases, the Group’s ownership percentage in EVGL decreased from 80.0% to 67.4%, and

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EVGL’s ownership percentage in DEIL decreased from 89.9% to 85.0%. As these transactions did not change the Group’s control over these subsidiaries, they are deemed as equity transactions. Differences generated from the aforementioned equity transactions were adjusted to increases in capital surplus of $34,896 thousand.

12) In order to sell the products by Gulei, the Company and APC resolved on August 13, 2020 and August 12, 2020, respectively, to establish a joint venture sales company in Fujian Province, China, with a planned capital of RMB 300,000 thousand (approximately US$46,000 thousand). The funds are expected to be US$32,200 thousand and US$13,800 thousand, respectively invested by Swanlake and APC (BVI) , but yet to complete it till March 22, 2021.
13) To simplify investing framework, the Group changed its indirect investment in FORMOSA OIL(ASIA PACIFIC) CORPORATION in China with approval of INVESTMENT COMMISSION (MOEA) dated January 25, 2021, as such, with the approval, it was revised to be direct invesment.
14) Swanlake acquired 5.42% of shares from external shareholders of ACME Electronics (Cayman) Corp. on January 21, 2021, acquired price to be US$2,172 thousand, where the Group's holding proportion increased from 11.23% to 16.65% after subscription.
15) This is a subsidiary with material non-controlling interests.
b. Details of subsidiaries that have material non-controlling interests
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N a m e o f S u b s i d i a r y CGPC TTC ACME APC EVGL	Proportion of Ownership and Voting R i g h t s H e l d byNon-controllingInterests	Proportion of Ownership and Voting R i g h t s H e l d byNon-controllingInterests
	December 31, 2020 64.4% 62.2% 55.4% 62.7% 32.6%	December 31, 2019
		64.4% 62.2% 55.4% 62.7% 20.0%

Please refer to Table 7 and 8 for the information on places of incorporation and principal places of business.

Name of Subsidiary	N o n	Profit (Loss) - c o n t r o l l	Allocated t i n g I	o n t e r e s t s	Accumulated Non-controllingInterests	Accumulated Non-controllingInterests	Accumulated Non-controllingInterests
		Year 2020		Year 2019	December 31,2020 December 31,2019
CGPC TTC ACME APC EVGL	(	$ 1,074,470 $ 1,215,763 $ 18,569 $ 746,600 $ 39,915)	( (	$ 422,558 $ 252,027 $ 57,564) $ 555,438 $ 6,321)		$ 6,187,422 $ 3,885,632 $ 716,599 $ 7,574,659 $ 5,988,872	$ 5,275,245 $ 2,683,447 $ 694,961 $ 6,488,546 $ 2,885,402

The summarized financial information in respect of each of the Group’s subsidiaries below represents amounts before intragroup eliminations:

CGPC and CGPC’ s subsidiaries

CGPC and CGPC’s subsidiaries
Current assets Non-current assets Current liabilities Non-current liabilities Equity Equity attributable to: Owners of CGPC Non-controlling interests of CGPC Non-controlling interests of CGPC’s subsidiaries	December 31, 2020 $ 5,874,585 8,019,040 ( 2,220,603 ) (1,369,264) $10,303,758 $ 3,516,093 6,187,422 600,243 $10,303,758	December 31, 2019
		$ 4,876,866 7,454,367 ( 1,695,099 ) (1,923,568) $ 8,712,566 $ 2,975,567 5,275,245 461,754 $ 8,712,566

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		2020		2019
Revenue		$13,733,148		$15,117,855
Net profit from continuing
operations		$1,787,437		$ 693,815
Net profit (loss) from discontinued
operations		4,273		4,175
Profit for the period		1,791,710		697,990
Other comprehensive income (loss)
for the period		82,647	(	2,290)
Total comprehensive income for the
period		$1,874,357		$ 695,700
Profit attributable to:
Owners of CGPC		$ 559,714		$ 220,119
Non-controlling interests of
CGPC		1,074,470		422,558
Non-controlling interests of
CGPC’s subsidiaries		157,526		55,313
		$1,791,710		$ 697,990
Total comprehensive income
attributable to:
Owners of CGPC		$ 627,523		$ 214,861
Non-controlling interests of
CGPC		1,088,417		425,051
Non-controlling interests of
CGPC’s subsidiaries		158,417		55,788
		$1,874,357		$ 695,700
Net cash inflow (outflow) from:
Operating activities		$2,088,323		$2,016,552
Investing activities	(	1,194,306 )	(	973,370 )
Financing activities	(	765,171 )	(	1,321,130 )
Effects of exchange rate changes	(	5,092)	(	3,385)
Net cash inflow (outflow)		$ 123,754	(	$ 281,333)
Dividends paid to
non-controlling interests		$ 173,260		$ 499,788

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TTC and TTC’s subsidiaries

TTC and TTC’s subsidiaries
Current assets Non-current assets Current liabilities Non-current liabilities Equity Equity attributable to: Owners of TTC Non-controlling interests of TTC Revenue Profit for the period Other comprehensive income (loss) for the period Total comprehensive income (loss) for the period Profit attributable to: Owners of TTC Non-controlling interests of TTC Total comprehensive income (loss) attributable to: Owners of TTC Non-controlling interests of TTC Net cash inflow from: Operating activities Investing activities Financing activities Effects of exchange rate changes Net cash inflow Dividends paid to non-controlling interests	December 31, 2020 $ 5,942,120 3,303,750 ( 2,170,177 ) ( 719,887) $ 6,355,806 $ 2,470,174 3,885,632 $ 6,355,806 2020 $15,498,381 $ 1,919,818 236,480 $ 2,156,298 $ 704,055 1,215,763 $ 1,919,818 $ 856,789 1,299,509 $ 2,156,298 $ 3,046,274 ( 120,224 ) ( 1,818,584 ) 39,022 $ 1,146,488 $ 63,493	December 31, 2019 $ 4,801,480 3,203,261 ( 2,278,694 ) (1,426,284) $ 4,299,763 $ 1,616,316 2,683,447 $ 4,299,763 2019 $17,672,204 $ 397,977 ( 21,618) $ 376,359 $ 145,950 252,027 $ 397,977 $ 141,780 234,579 $ 376,359 $ 1,602,732 25,464 ( 882,791 ) ( 36,058 ) $ 709,347 $ 41,498

		(

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ACME and ACME’s subsidiaries

ACME and ACME’s subsidiaries
Current assets Non-current assets Current liabilities Non-current liabilities Equity Equity attributable to: Owners of ACME Non-controlling interests of ACME Non-controlling interests of ACME’s subsidiaries Revenue Profit (Loss) for the period Other comprehensive income (loss) for the period Total comprehensive income (loss) for the period Profit (Loss) attributable to: Owners of ACME Non-controlling interests of ACME Non-controlling interests of ACME’s subsidiaries Total comprehensive income (loss) attributable to: Owners of ACME Non-controlling interests of ACME Non-controlling interests of ACME’s subsidiaries Net cash inflow (outflow) from: Operating activities Investing activities Financing activities Effects of exchange rate changes Net cash inflow	December 31, 2020 December 31, 2019 $ 1,886,912 $ 1,780,507 1,679,406 1,753,574 ( 1,161,937 ) ( 1,085,862 ) ( 519,306) ( 612,610 ) $ 1,885,075 $ 1,835,609 $ 580,765 $ 557,511 716,599 694,961 587,711 583,137 $ 1,885,075 $ 1,835,609 2020 2019 $ 2,169,471 $ 2,132,889 $ 37,374 ( $ 128,465 ) 12,092 ( 60,336 ) $ 49,466 ($ 188,801 ) $ 14,824 ( $ 46,046 ) 18,569 ( 57,564 ) 3,981 ( 24,855 ) $ 37,374 ($ 128,465 ) $ 19,844 ( $ 65,461 ) 25,048 ( 81,937 ) 4,574 ( 41,403 ) $ 49,466 ($ 188,801 ) $ 213,754 $ 391,506 11,334 ( 385,967 ) ( 42,059 ) 43,673 8,547 ( 26,585 ) $ 191,576 $ 22,627	December 31, 2019
	(

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APC and APC’s subsidiaries

APC and APC’s subsidiaries
Current assets Non-current assets Current liabilities Non-current liabilities Equity Equity attributable to: Owners of APC Non-controlling interests of APC Revenue Profit (Loss) for the period Other comprehensive income (loss) for the period Total comprehensive income (loss) for the period Profit (Loss) attributable to: Owners of APC Non-controlling interests of APC Total comprehensive income (loss) attributable to: Owners of APC Non-controlling interests of APC Net cash inflow (outflow) from: Operating activities Investing activities Financing activities Effects of exchange rate changes Net cash outflow Dividends paid to non-controlling interests	December 31, 2020 December 31, 2019 $ 2,964,269 $ 4,940,438 13,919,234 11,982,653 ( 1,479,196 ) ( 2,469,828 ) ( 3,294,762) ( 4,223,443) $ 12,109,545 $ 10,229,820 $ 4,534,886 $ 3,741,274 7,574,659 6,488,546 $ 12,109,545 $ 10,229,820 2020 2019 $ 5,703,546 $ 6,791,157 1,103,587 821,021 1,099,896 ( 30,290 ) $ 2,203,483 $ 790,731 $ 356,987 $ 265,583 746,600 555,438 $ 1,103,587 $ 821,021 2020 2019 $ 887,393 $ 327,374 1,316,090 463,357 $ 2,203,483 $ 790,731 $ 2,878,346 $ 498,621 ( 916,265 ) ( 1,162,465 ) ( 2,289,221 ) 479,045 ( 5,832 ) ( 10,788 ) ($ 332,972 ) ($ 195,587 ) $ 225,031 $ 112,516

	( ( ( (

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EVGL and EVGL’s subsidiaries

Current assets Non-current assets Current liabilities Equity Equity attributable to: Owners of EVGL Non-controlling interests of EVGL Non-controlling interests of EVGL’s subsidiaries Loss for the period Other comprehensive income (loss) for the period Total comprehensive income (loss) for the period Loss attributable to: Owners of EVGL Non-controlling interests of EVGL Non-controlling interests of EVGL’s subsidiaries Total comprehensive income (loss) attributable to: Owners of EVGL Non-controlling interests of EVGL Non-controlling interests of EVGL’s subsidiaries Cash flow Operating activities Investing activities Financing activities Effects of exchange rate changes Net cash inflow	December 31, 2020 $ 1,309,763 20,170,030 ( 15,128) $ 21,464,665 $ 12,383,404 5,988,872 3,092,389 $ 21,464,665 2020 ( $ 176,803 ) 234,751 $ 57,948 2020 ( $ 113,720 ) ( 39,915 ) ( 23,168 ) ($ 176,803 ) $ 16,651 20,062 21,235 $ 57,948 ( $ 13,696 ) ( 5,122,441 ) 5,359,526 ( 110,736 ) $ 112,653	December 31, 2019 $ 1,194,368 14,867,168 ( 14,346) $ 16,047,190 $ 11,547,692 2,885,402 1,614,096 $ 16,047,190 2019 ( $ 39,885 ) ( 677,506 ) $ 717,391 2019 ( $ 27,751 ) ( 6,321 ) ( 5,813 ) ($ 39,885 ) ( $ 499,685 ) ( 120,525 ) ( 97,181 ) ($ 717,391 ) ( $ 29,373 ) ( 5,161,581 ) 5,715,801 ( 56,551 ) $ 468,296

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Please refer to Notes 19 and 36 for the information related to part of subsidiaries’ shares pledged as collateral for long -term bank borrowings.

14. INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD

Investments in joint ventures Associates that are individually material Fujian Gulei Petrochemical Co., Ltd. (“Gulei”)	December 31, 2020 $ 20,170,030	December 31, 2019	December 31, 2019
			$ 14,867,168

Investments in joint venture are accounted for using the equity method.

The percentage of the Group’s ownership and voting rights was 50% of the outstanding shares of Gulei as of December 31, 2020 and 2019. For more explanation, please refer to Note 38.

For the scope of business operations, the location and national information of Gulei’s registry of joint venture, please refer to Table 8.

The summary of financial information below represents amounts shown in the joint venture’s financial statements prepared in accordance with IFRSs adjusted by the Group for equity accounting purposes.

Cash & cash equivalents Current assets Non-current assets Current liabilities Non-current liabilities Equity Proportion of the Group’s ownership Equity attributable to the Group Carrying amount	December 31, 2020 $ 4,356,714 $ 5,785,331 82,025,858 ( 10,734,400 ) (36,736,729) 40,340,060 50% $ 20,170,030 $ 20,170,030	December 31, 2019 $ 2,078,359 $ 2,102,915 40,551,677 ( 8,164,871 ) ( 4,755,385) 29,734,336 50% $ 14,867,168 $ 14,867,168

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Shares attributable to the Group Net (loss) profit of the period	December 31, 2020 2020 ($ 165,161)	December 31, 2019 2019 ($ 12,403)

	(	(

Gulei had no significant operating income for the years ended December 31, 2020 and 2019.

15. PROPERTY, PLANT AND EQUIPMENT

Freehold land Land improvements Building improvements Machinery and equipment Transportation equipment Other equipment Construction in progress and equipment under installation	December 31, 2020 $ 4,682,237 6,954 4,062,692 11,626,815 46,935 321,524 2,510,261 $ 23,257,418	December 31, 2019 $ 4,682,238 8,232 4,282,923 12,418,786 46,865 300,065 1,489,802 $ 23,228,911

Cost Balance on January 1, 2020 Plus Disposal Transfer from invested properties (Note 17) Internal transfer Net conversion difference Balance ended December 31, 2020 Accumulated impairment and loss Balance ended December 31, 2020 Depreciation expense Disposal Transfer from invested properties (Note 17) Internal transfer Impariment loss recognized Net conversion difference Balance ended December 31, 2020 Net balance ended December 31, 2020 Cost Balance on January 1, 2019 Plus Disposal	Freehold land $4,682,237 - - - - - $ 4,682,237 $ - - - - - - - $- $ 4,682,237 $4,726,441 - ( 20,122)	Land improvements $ 124,005 - - - 213 - $ 124,218 $ 115,773 1,491 - - - - - $ 117,264 $ 6,954 $ 124,005 - -	Building improvements $ 8,261,853 4,796 ( 28,965 ) 1,752 68,262 7,956 $ 8,315,654 $ 3,978,930 288,930 ( 27,833 ) 717 2,252 - 9,966 $ 4,252,962 $ 4,062,692 $ 8,089,311 34,852 ( 172,366 )	Machinery and equipment $ 37,738,740 149,161 ( 1,141,845) - 949,092 ( 45,439) $ 37,649,789 $ 25,319,953 1,797,570 ( 1,084,990) - ( 4,212) 25,714 ( 31,062) $ 26,022,974 $ 11,626,815 $ 35,460,445 257,361 ( 792,209)	Transportation equipment $ 204,178 2,820 ( 14,641 ) - 13,815 ( 4,117) $ 202,055 $ 157,313 15,359 ( 13,648 ) - - - ( 3,904) $ 155,120 $ 46,935 $ 210,353 4,727 ( 18,250 )	Other equipment $ 1,736,993 28,058 ( 57,031 ) - 61,799 ( 10,492) $ 1,759,327 $ 1,436,928 78,127 ( 53,293 ) - ( 17,905) 568 ( 6,622) $ 1,437,803 $ 321,524 $ 1,746,069 40,653 ( 57,349 )	Construction in progress and equipment under installation $ 1,501,006 2,072,826 (3,500) - ( 1,045,673) ( 4,916) $ 2,519,743 $ 11,203 - ( 3,357) - - 1,619 17 $ 9,482 $ 2,510,261 $ 3,641,270 1,681,446 -	Total $ 54,249,012 2,257,661 (1,245,982) 1,752 47,508 ( 56,928) $ 55,253,023



							i

								$ 31,020,101 2,181,477 ( 1,183,121) 717 ( 19,865) 27,901 ( 31,605) $ 31,995,605
								$ 23,257,418
								$ 53,997,894 2,019,039 ( 1,060,296)

(Continued)

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Recognized as asset of operating lease (Note 17) Internal transfer Net conversion difference Balance ended December 31, 2019 Accumulated impairment and loss Balance ended December 31, 2019 Depreciation expense Disposal Recognized as asset of operating lease (Note 17) Impariment loss recognized Net conversion difference Balance ended December 31, 2019 Net balance ended December 31, 2019	Freehold land (24, 082) - - $ 4,682,237 $ - - - - - - $- $ 4,682,237	Land improvements - - - $ 124,005 $ 114,131 1,491 - - - - $ 115,773 $ 8,232	Building improvements ( 257,285 ) 660,546 ( 93,205) $ 8,261,853 $ 3,897,212 281,754 ( 152,491 ) ( 28,729 ) 19,644 ( 38,460) $ 3,978,930 $ 4,282,923	Machinery and equipment - 3,115,483 ( 302,340 ) $ 37,738,740 $ 25,319,953 1,687,423 ( 765,430 ) - 90,887 ( 256,063 ) $ 25,319,954 $ 12,418,786	Transportation equipment - 9,973 ( 2,625 ) $ 204,178 $ 157,313 15,368 ( 17,160 ) - 10 ( 1,806) $ 157,313 $ 46,865	Other equipment - 29,720 ( 22,100 ) $ 1,736,993 $ 1,436,928 75,800 ( 51,273 ) - 1,761 ( 15,220 ) $ 1,436,928 $ 300,065	Construction in progress and equipment under installation - ( 3,803,279) ( 18,431 ) $ 1,501,006 $ 11,203 - - - 33 ( 244) $ 11,203 $ 1,489,803	Total ( 281,367) 12,443 ( 438,701 ) $ 54,249,012


							u
							i

								$ 31,020,101 2,061,987 ( 986,354) ( 28,729) 112,335 ( 311,793) $ 31,020,101
								$ 23,228,911

On March 21, 2013 the board of directors of the Company decided to invest $1,000,000 thousand for the construction of a CBC production plant. On September 23, 2014, the board of directors of the Company decided to construct a front-end material production plant and utility system, costing $1,000,000 thousand. In addition, the amount of investment to adjust the plant configuration was increased by $700,000 thousand after discussion by the board of directors of the Company in its meeting on August 11, 2016, and the total cost was $2,700,000 thousand. The project was completed in 2019, and total fees and charge were $2,331,883 thousand. In June 2014, the Company received subsidies amounting to $160,000 thousand from the Industrial Development Bureau, and as of December 31, 2019, the Company had received $158,841 thousand. According to the schedule and acceptance situation, the subsidy income had accumulated to $158,841 thousand.

According to Rule No. 1072133080 issued by the Land Administration Department of the New Taipei City Government on November 7, 2018, the Company’s land and buildings in Linkou which were recognized under property, plant and equipment are within the scope of the “Linkou City Land Rezoning Area”. Part of

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the land will be reclaimed, and a portion of this reclaimed land is expected to be returned in 2022. Based on the area’s land reclamation regulations, when the Company reclaims the land, it does not have the obligation to dismantle the existing bui ldings on the land, nor does it have the obligation to set up factories in the area after reclamation is complete; its only obligation is to vacate the existing buildings. The Company is also not required to repay or satisfy any other obligations with respect to the compensation fees obtained from moving out of the various existing buildings, incentives for automatic relocation and compensation for operating losses after the buildings on the reclaimed land have been handed over. The related compensation and incentive fees which the Company received as a result of the aforementioned land reclamation case amounted to $154,764 thousand and $38,230 thousand in the months of April 2019 and July 2019, respectively, for a combined total of $192,994 thousand. The Company had completed its obligation to move out from the existing buildings and land and completed the related handover procedures with the New Taipei City Government. As there are no repayment obligations or other obligations to be satisfied, other than recognizing the various compensation fees as adjustments to the costs of the original land and buildings, related compensation fee revenue of $155,710 thousand was recognized.

In cooperation with the Taiwan International Ports Corporation (Ports Co.), Ministry of Transportation and Communications, to relocate the petrochemical oil storage tank facilities of the old port area operators, CGTD leased the port facilities and storage areas of the Kaohsiung Port Intercontinental Container Center Second Phase Petrochemical Oil Storage and Transportation Center from Ports Co., the lease period being from August 1, 2017 to July 31, 2042, rent paid quarterly. In addition,

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the boards of directors of the Company, CGTD, APC and TVCM, a subsidiary of CGPC, resolved in 2019 to build the second phase of the Intercontinental Petrochemical Oil Products Center, and signed a turnkey project agreement with CTCI on October 7, 2019, with a total investment price of $3,380,107 thousand. As of December 31, 2020, the Group had paid $1,260,597 thousand for the project, which was accounted for under construction in progress.

For the years ended December 31, 2020, ACME (GZ) assessed that some of its machinery and equipment had been idle and did not meet the production requirements, recognizing an impairment loss of $5,823 thousand.

Year 2019, ACME (KS) and USI OPTRONICS CORPORATION assessed that the book value of some of its machinery and equipment could not be recovered, recognizing an impairment loss of $37,939 thousand and $14,131 thousand. The aforementioned profit and loss have been included in the operating expenses in the consolidated comprehensive income statement.

Due to shrinking demand of EPS in the local market, the main product of Taita Chemical (Tianjin) Co., Ltd. (“TAITA (TJ)”), the management decided to suspend the production of TAITA (TJ) starting from April 2019. TAITA (TJ) determined the recoverable amounts of the property, plant and equipment (including right-ofuse assets), on the basis of fair values less costs of disposal. TAITA (TJ) recognized an impairment loss of $22,078 thousand and $60,265 thousand in 2020 and 2019 respectively, which was reported under operating costs in the consolidated statements of comprehensive income.

The assessed fair values of the proceeds are as follows:

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Plant and right-of-use assets Equipment	December 31, 2020 $ 275,409 $ 2,689	December 31,	December 31,
			2019 $ 281,512 $ 94,814

The above items of property, plant and equipment are depreciated on a straight-line basis over their estimated useful lives as follows:

ollows:
Land improvements	7-25 years
Building improvements
Factories and other machines	15-55 years
Main buildings	3-60 years
Storage rooms	8-45 years
Others	2-40 years
Machinery and equipment	2-25 years
Transportation equipment	2-15 years
Other equipment	2-25 years

Property, plant and equipment pledged as collateral for bank borrowings are set out in Note 36.

For the related capitalized interest, please refer to Note 28 (d) finance cost.

16. LEASE ARRANGEMENTS

a. Right-of-use assets

Right-of-use assets
Carrying amounts Leasehold land Land use rights Buildings Machinery and equipment Transportation equipment	December 31, 2020 $ 163,311 427,365 148,111 53,510 2,183 $ 794,480	December 31, 2019
			$ 184,708 444,306 195,662 60,697 135 $ 885,508

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Addition for right-of-use assets Depreciation charge for right-of-use assets Leasehold land Land use rights Buildings Machinery and equipment Transportation equipment		2020 $ 3,265 $ 15,618 24,601 18,500 10,264 718 $ 69,701		2019
				$ 73,603 $ 17,319 15,451 30,443 3,847 885 $ 67,945

Except for the recognition of depreciation expense, the Group's right-of-use assets did not experience significant impairments for the years ended December 31, 2020 and 2019.

The Group has been subleasing its leasehold building Tai-An under operating leases. The related right-of-use assets are presented as investment properties (as set out in Note 17). The amounts disclosed above with respect to the right-of-use assets do not include right-of-use assets that meet the definition of investment properties.

Right-of-use assets pledged as collateral for bank borrowings are set out in Notes 19 and 36.

b. Lease liabilities

Lease liabilities
Carrying amounts Current Non-current	December 31, 2020 $ 75,284 $ 384,402	December 31, 2019
			$ 70,814 $ 481,964

Range of discount rate for lease liabilities was as follows:

Lease land Buildings Machinery Transportation equipment	December 31, 2020 0.83%`～`9.25% 1.04%`～`2.00% 1.04%`～`1.16% 1.06%`～`1.25%	December 31, 2019 0.83%`～`9.25% 1.04%`～`2.00% 1.04%`～`1.16% 1.06%`～`1.25%

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c. Material lease-in activities and terms

The Group leases certain factory, office and dormitory with lease terms of 1 to 7 years. The Group has options to lease office at the end of the lease terms.

d. Other lease information

Lease arrangements under operating leases for leasing out of investment properties are set out in Note 17. For details of lease information, please refer to the following table (the Group as lessee).

lessee).
Expenses relating to short-term leases Expenses relating to low-value asset leases Expenses relating to variable lease payments not including in the measurement of lease liabilities Total cash outflow for leases		2020 $ 50,200 $ 1,301 $ 37,265 $ 164,728)		2019
	(		(	$ 48,398 $ 2,064 $ 44,550 $ 170,175)

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

17. INVESTMENT PROPERTIES

INVESTMENT PROPERTIES
Completed investment properties Land Buildings Right-of-use assets	December 31, 2020 $ 200,726 296,378 78,482 $ 575,586	December 31, 2019
			$ 115,053 313,847 95,508 $ 524,408

Cost Balance at January 1, 2020 Addition Transfer to property, plant and equipment Transfer to right of use assets	Land $ 119,022 85,673 - -	Buildings $ 428,521 - ( 1,752 ) -	Right-of-use assets $ 110,452 - - ( 2,775 )	Total
				$ 657,995 85,673 ( 1,752 ) ( 2,775 ) (Continued)

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Effect of foreign currency exchange differences Balance at December 31, 2020 Accumulated depreciation and impairment Balance at January 1, 2020 Depreciation expenses Transfer to property, plant and equipment Transfer to right of use assets Effect of foreign currency exchange differences Balance at December 31, 2020 Carrying amounts at December 31, 2020 Cost Balance at January 1, 2019 Adjustments on initial application of IFRS 16 Balance at January 1, 2019 (restated) Transfer from property, plant and equipment Effect of foreign currency exchange differences Balance at December 31, 2019 Accumulated depreciation and impairment Balance at January 1, 2019 Depreciation expenses Transfer from property, plant and equipment Effect of foreign currency exchange differences Balance at December 31, 2019 Carrying amounts at December 31, 2019		Land - $ 204,695 $ 3,969 - - - - $ 3,969 $ 200,726 $ 94,940 - 94,940 24,082 - $ 119,022 $ 3,969 - - - $ 3,969 $ 115,053		Buildings 4,604) $ 422,165 $ 114,674 13,621 717 ) - 1,791) $ 125,787 $ 296,378 $ 173,492 - 173,492 257,285 ( 2,256) $ 428,521 $ 82,039 11,635 28,729 ( 7,729) $ 114,674 $ 313,847		Right-of-use assets - $ 107,677 $ 14,944 14,598 - 347 ) - $ 29,195 $ 78,482 $ - 110,452 110,452 - - $ 110,452 $ - 14,944 - - $ 14,944 $ 95,508		Total
			( ( (		(		( ( ( (	4,604) $ 734,537 $ 133,587 28,219 717 ) 347 ) 1,791) $ 158,951 $ 575,586 $ 268,432 110,452 378,884 281,367 ( 2, 256) $ 657,995 $ 86,008 26,579 28,729 ( 7,729) $ 133,587 $ 524,408

Right-of-use assets included in investment properties are units of office space located in Taipei and subleased under operating

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leases to other companies. The investment properties were leased out for 1 to 8 years, with an option to extend. The lease contracts contain market review clauses in the event that the lessees exercise their options to extend.

Except for the recognition of depreciation expense, there were no significant increases, disposals and impairment of the Group’s investment properties for the years ended December 31, 2020 and 2019.

Total rent receivable of investment properties under operating lease as of December 31, 2020 and 2019 are:

Year 1 Year 2 Year 3 Year 4 Year 5 More than 5 years	December 31, 2020 $ 46,510 43,513 38,626 29,222 17,494 37,716 $ 213,081	December 31, 2019 $ 36,102 16,858 15,532 15,532 8,332 29,804 $ 122,160

The above items of investment properties are depreciated on a straight-line basis over their estimated useful lives as follows:

Buildings 3-55 years Right-of-use assets 3-12 years

Part of the Group’s investment properties is located in the Toufen and Linyuan Industrial District. As these districts are designated for industrial use, information on comparable market transactions are uncommon and alternative reliable measurements of the fair value estimates are not available. Hence, the Group determined that the fair value of these investment properties cannot be reliably determined. The fair values of the remaining

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investment properties were not assessed by independent appraisers; instead, they were arrived at by using the valuation model that most market participants would use in determining fair value by using Level 3 inputs, with reference to the transaction prices of similar properties in the vicinity. The fair value of right - of-use assets was determined by adding back the amount of related lease liabilities recognized to the net amount of the expected lease income after deducting all the expected payments.

The fair values of investment properties as of December 31, 2020, and December 31, 2019 were as follows:

Fair value	December 31, 2020 $ 1,363,122	December 31, 2019	December 31, 2019
			$ 1,180,999

The investment properties pledged as collateral for bank borrowings are set out in Note 36.

18. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill a. Other intangible assets b. Technology royalties and patent right Computer software a. Goodwill	December 31, 2020 $ 269,026 $ 1,863 8,944 $ 10,807	December 31, 2019	December 31, 2019
			$ 269,026 $ 7,109 9,895 $ 17,004

Balance as of December 31		2020 $ 269,026		2019
				$ 269,026

b. Other intangible assets

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Computer software $ 100,298 113 9 $ 100,420 $ 90,403 3,620 ( 2,547 ) $ 91,476 $ 8,944 $ 118,270 6,503 ( 24,195 ) ( 280) $ 100,298 $ 108,271 6,234 ( 24, 195 ) 93 $ 90,403 $ 9,895	$	$

$	$	$
$	$	$
( $	$	( $
$	$	$
$	$	$
( ( $		( ( $
	$
$	$	$
(		(
$	$	$
$	$	$

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Except for the recognition of amortization expense, there were no significant addition, disposal and impairment on other intangible assets of the Group for the years ended December 31, 2020 and 2019.

The intangible assets are depreciated on a straight-line basis over their estimated useful lives as follows:

Technology royalties and patent right 3 to 7 years Computer software 1 to 3 years Others 5 to 7 years

19. BORROWINGS

a. Short-term borrowings

Unsecured borrowings Line of credit borrowings Range of interest rates Short-term bills payable Bills payable Less: Unamortized discount on bills payable Range of interest rates	December 31, 2020 $ 2,726,270 0.52%`～`2.89% December 31, 2020 $ 657,000 ( 296) $ 656,704 0.53%`～`1.098%	December 31, 2019 $ 4,258,980 0.81%`～`4.58% December 31, 2019 $ 1,353,000 ( 190) $ 1,352,810 0.50%`～`1.188%

b. Short-term bills payable
c. Long-term borrowings

Long-term borrowings
Secured borrowings Line of credit borrowings Bill payable Unamortized discount on bills payable Subtotal	December 31, 2020 $ 640,000 6,950,000 7,590,000 - - - 7,590,000	December 31, 2019 $ 1,743,200 7,650,000 9,393,200 100,000 ( 230) 99,770 9,492,970 (Continued)
		(

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Less: Maturity within one year Range of interest rates Secured borrowings Line of credit borrowings Bill payable	December 31, 2020 - $ 7,590,000 1.00%`～`1.11% 0.74%`～`1.04% -	December 31, 2019 ( 443,200) $ 9,049,770 1.05%`～`1.33% 0.98%`～`1.18% 1.528%

The Company entered into medium- and long-term loan contracts with banks to increase working capital. The contracts will be effective up to October 2023 with a total credit limit of $5,012,000 thousand, which is used cyclically during the validity period. As of December 31, 2020, the Company had borrowed $2,300,000 thousand.

UPIIC entered into medium- and long-term financing contracts with banks to increase working capital. The contracts will be effective up to November 2023 with a total credit limit of $2,300,000 thousand, which is used cyclically during the validity period. As of December 31, 2020, UPIIC had borrowed $800,000 thousand.

CGPC entered into medium- and long-term financing contracts with banks to increase working capital. The contracts will be effective up to August 2023 with a total credit limit of $1,000,000 thousand, which is used cyclically during the validity period. As of December 31, 2020, CGPC had not borrowed.

CGPCPOL entered into medium- and long-term financing contracts with banks to increase working capital. The contracts will be effective up to May 2023 with a total credit limit of $1,100,000 thousand, which is used cyclically during the validity period. As of December 31, 2020, CGPCPOL had borrowed $50,000 thousand.

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TTC entered into medium- and long-term financing contracts with banks to increase working capital. The contracts will be effective up to July 2023 with a total credit limit of $1,900,000 thousand, which is used cyclically during the validity period. As of December 31, 2020, TTC had borrowed $300,000 thousand.

APC entered into medium- and long-term financing contracts with banks to increase working capital. The contracts will be effective up to November 2023 with a total credit limit of $5,950,000 thousand, which is used cyclically during the validity period. As of December 31, 2020, APC had borrowed $3, 050,000 thousand.

ACME entered into medium- and long-term financing contracts with banks to increase working capital. The contract will be effective up to September 2022 with a total credit limit of $540,000 thousand, which is used cyclically during the validity period. As of December 31, 2020, ACME had borrowed $340,000 thousand.

SPC entered into medium- and long-term financing contracts with banks to increase working capital. The contracts will be effective up to June 2025 with a total credit limit of $750,000 thousand, which is used cyclically during the validity period. As of December 31, 2020, SPC had borrowed all.

According to the loan contracts of part of subsidiaries, the current ratio, bank loan ratio, debt ratio, and interest protection multiples should not be less than the specified percentage. The subsidiaries should provide improvements to the bank if the requirements were not met. As of December 31, 2020, the subsidiaries did not violate the requirements.

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20. BONDS PAYABLE

BONDS PAYABLE
Domestic unsecured bonds 104-1A - issuance on February 12, 2015, 5 years, total amount $1,000,000 thousand, coupon rate 1.55%, bullet repayment Domestic unsecured bonds 104-1B - issuance on February 12, 2015, 7 years, total amount $1,000,000 thousand, coupon rate 1.90%, bullet repayment Domestic unsecured bonds 105-1 - issuance on October 28, 2016, 5 years, total amount $2,000,000 thousand, coupon rate 0.80%, bullet repayment Domestic unsecured bonds 106-1 - issuance on October 27, 2017, 5 years, total amount $2,000,000 thousand, coupon rate 1.10%, bullet repayment Domestic unsecured bonds 108-1 - issuance on April 26, 2019, 5 years, total amount $2,000,000 thousand, coupon rate 0.98%, bullet repayment Discounts on bonds payable Less: Current portions	December 31, 2020 $ - 1,000,000 2,000,000 2,000,000 2,000,000 7,000,000 ( 5,698) 6,994,302 (1,999,233) $ 4,995,069	December 31, 2019 $ 1,000,000 1,000,000 2,000,000 2,000,000 2,000,000 8,000,000 ( 8,717) 7,991,283 ( 999,956) $ 6,991,327
	( (	( (

In December 2014, the Company applied for the first issuance of unsecured ordinary corporate bonds issued in 2015 with the amount of $2,000,000 thousand in order to reimburse the due bonds and to increase working capital. The unsecured ordinary corporate bonds with a 5-7-year maturity, due for repayment, were all issued in February 2015. The Company repaid $1,000,000 thousand due in February 2020.

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In October 2016, the Company applied for the first issuance of unsecured ordinary corporate bonds issued in 2016 with the amount of $2,000,000 thousand in order to reimburse the bank loans, and the unsecured ordinary corporate bonds with a 5 -year maturity, due for repayment, were all issued in October 2016.

In October 2017, the Company applied for the first issuance of unsecured ordinary corporate bonds issued in 2017 with the amount of $2,000,000 thousand in order to reimburse the bank loans, and the unsecured ordinary corporate bonds with a 5-year maturity, due for repayment, were all issued in October 2017.

In April 2019, the Company applied for the first issuance of unsecured ordinary corporate bonds issued in 2019 with the amount of $2,000,000 thousand in order to reimburse the bank loans, and the unsecured ordinary corporate bonds with a 5 -year maturity, due for repayment, were all issued in April 2019.

21. NOTES AND ACCOUNTS PAYABLE

Operating Accounts payable	December 31, 2020 $3,406,837	December 31, 2019	December 31, 2019
	$		2,757,368

The average credit period of the Group is between 1 and 3 months. The Group has financial risk management policies to ensure that all payables are paid within the credit terms.

22. OTHER PAYABLES

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Current Other payables Payables for salaries and bonuses Payables for water and electricity Payables for fares Payables for purchases of equipment Payables for dividends Payable for VAT Payables for interests Payables for professional service expenses Payables for insurance Others Other liabilities Refund liabilities	December 31, 2020 $ 1,112,278 246,183 234,530 104,811 71,694 68,251 41,056 27,655 27,262 282,813 2,216,533 16,390 $ 2,232,923	December 31, 2019	December 31, 2019
			$ 790,918 209,320 174,702 191,407 17,771 19,236 55,434 21,814 26,576 430,848 1,938,026 28,221 $ 1,966,247

The provision for customer returns and rebates is based on historical experience, management’s judgments and other known reasons for which estimated product returns and rebates may occur in the reporting period. The provision is recognized as a reduction of operating income in the periods in which the related goods are sold.

23. PROVISIONS

PROVISIONS
Non-current Litigation provision	December 31, 2020 $ 136,375	December 31, 2019
			$ 136,375

Litigation provision is a result of the first-instance judgment and reconciliation of the Kaohsiung gas explosion case on July 31, 2014 for which cash outflows may be recognized in the near future. Please refer to Note 37 for the explanation related to the provision.

24. RETIREMENT BENEFIT PLANS

a. Defined appropriation plan
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The pension system in the "Labor Pension Act" that the Company and domestic subsidiary apply to is a defined appropriation plan managed by government, where 6% of monthly salary is appropriated to personal account in the Labor Insurance Bureau. Besides, foreign subsidiary's formulated employee pension method pursuant to local competent authority is also the same one.

b. Defined benefits plan

The pension system in the "Labor Pension Act" that the Company and domestic subsidiary apply to is a defined appropriation plan managed by government, where it is paid based on average salary of 6 months prior to the approved retirement day and seniority. The Company appropriates pension to employee based on 9% of monthly salary (the appropriation rate raised to 12% since November 10, 2016), and subsidiaries appropriate pension based on specified percentage of total monthly employee salary (TAIDA and WAH YUNG 12%; APC, CGPC and VCM 10%, SPC 3.5%; ACME, USIFE Investment Co., Ltd., USI MANAGEMENT CONSULTING CORPORATION and TUVM all 2%) for Labor Pension Reserve Supervision Committee's deposit to specific account in Bank of Taiwan on its name. This specific account is consigned for management under Bureau of Labor Funds (MOL) and the Group has no right of affecting its investment and management strategy.

The expenses of defined benefit plans listed into the consolidated financial statements as follows:

financial statements as follows:
Defined benefits and obligations - current Fair value of planned assets Net defined benefits liability - non- current		December 31, 2020 ($3,415,069) 2,123,016 $ 1,292,053)		December 31, 2019
				($3,674,355) 2,200,488 $ 1,473,867)

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Change in net defined benefits liabilities - non-current:

Latest value of defined benefits obligation January 1, 2019 ($ 3,845,821) Service cost - current period ( 34,362) Interest gains (expense) (33,565) Remeasurements recognized as profit/loss (67,927) Remuneration of planned assets (except for the amount included in net interests) - Actuarial loss - demographic change ( 244) Actuarial loss - change in financial assumption ( 70,526) Actuarial gains - experience adjustments 3,107 Recognized under other comprehensive profit/loss (67,663) Employer appropriation - Benefits payment 307,056 December 31, 2019 ($ 3,674,355) January 1, 2020 ($ 3,674,355) Service cost - current period ( 30,744) Service cost - previous period ( 1,672) Interest gains (expense) (22,754) Remeasurements recognized as profit/loss (55,170) Remuneration of planned assets (except for the amount included in net interests) - Actuarial loss - demographic change ( 21) Actuarial loss - change in financial assumption 63,814) Actuarial gains - experience adjustments 6,128 Recognized under other comprehensive profit/loss ( 57,707) Employer appropriation - Benefits payment 372,163 December 31, 2019 ($ 3,415,069)	Fair value of planned assets
	$ 2,187,593 - 19,776 19,776 75,954 - - - 75,954 213,445 (296,280) $ 2,200,448 $ 2,200,488 - - 14,035 14,035 76,957 - - - 76,957 185,024 (353,488) $ 2,123,016


		( ( ( ( ( ( ( (

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The Company's pension system from the "Labor Standards Act" is exposed in the following risks:

1) Investment risk: MOL utilizes or consigns operation to invest the labor pension fund in targets including but not limited to domestic (overseas) equity security, debt security and bank deposits, only that such allocablae assets shall be no less than those calculated with 2-year time deposit interest amid local banks to gain.

2) Interest risk: Decline of government bond interst increases latest benefit obligation value, and same does planned assets' return of debt investment; both can write off the effect by its debt partially.

3) Salary risk: Current value of defined benefit obligations is calculated from future salary of member participants; therefore, it will increase with their salary.

The Group's current value of defined benefits obligations is acturarial one by Certificate Acturary and material assumption on the measuring day is:

Discount rate Expected salary increment rate	December 31, 2020 0.375% ~ 0.50% 2.00% ~ 2.75%	December 31, 2019 0.625% ~ 0.75% 2.00% ~ 2.75%

The amount of defined benefit current obligation value which will increase with potential and reasonable change in material acturial assumptions where all other assumptions remained the same are:

Discount rate Increase by 0.25% ( Decrease by 0.25% Expected salary increment rate Increase by 0.25% Decrease by 0.25% (	December 31, 2020 $ 63,814) ( $ 65,798 $ 63,387 $ 61,813) (	December 31, 2019 $ 69,540) $ 71,747 $ 69,285 $ 67,517)

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In view of potential interconnection amid acturial assumptions, single change might not happen; hence, the sentitivity analysis as above may not reflect the actual change.

above may not reflect the actual	change.
Expected appropriated amount within one year Average duration of defined benefits obligations	December 31, 2020 $ 190,626 7 ~ 13 years	December 31, 2019
	7 ~	7 ~	$ 189,605 13 years

25. GOVERNMENT GRANTS

a. Acme Electronics Corporation (Kunshan) reached an agreement with Kunshan Zhoushizhen People’s Government in 2006 in which Acme Electronics Corporation (Kunshan) promised to relocate its new plant and raise its investment amount. Furthermore, Kunshan Zhoushizhen People’s Government subsidized Acme Electronics Corporation (Kunshan)’s acquisition of the land for its new plant and the external line project for high voltage power during the relocation process. Acme Electronics Corporation (Kunshan) recognized the subsidy as long-term deferred revenue, which will be amortized along with the use of assets.
As of December 31, 2020, December 31, 2019, and December
31, 2019, the amounts of deferred income (booked under other current liabilities) that had not been amortized were RMB 8,363 thousand (NTD$36,502 thousand), RMB8,893 thousand (NTD$38,216 thousand) respectively.
b. Affected by the global pandemic of COVID-19, the Group has applied to the government for subsidies for items such as salary and operating capital. As of December 31, 2020, $8,367 thousand has been obtained. In addition, in accordance with the policy of the local government in China, ACME (KS) and ACME(GZ) have
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gained exemption from the pension, unemployment and work - related injury insurances borne by the company from February to December 2020, as well as preferential electricity fee reducti on, exemption, and subsidies due to good pandemic containment.

The Group has incorporated the economic impact caused by the pandemic into its major accounting estimates based on the information available on the balance sheet date.

26. EQUITY

Share capital Capital surplus Retained earnings Other equity items Treasury shares Non-controlling interests	December 31, 2020 $ 11,887,635 321,798 9,497,146 ( 240,195 ) ( 475,606 ) 27,732,865 $ 48,723,643	December 31, 2019 $ 11,887,635 271,613 7,756,919 ( 781,058 ) ( 475,606 ) 20,517,444 $ 39,176,947

a. Share capital

Share capital
Number of shares authorized (in thousands) Shares authorized Number of shares issued and fully paid (in thousands) Shares issued	December 31, 2020 1,342,602 $ 13,426,024 1,188,763 $ 11,887,635	December 31, 2019
			1,342,602 $ 13,426,024 1,188,763 $ 11,887,635

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

b. Capital surplus

The capital surplus generated from donations and the ex cess of the issuance price over the par value of share capital (including the shares issued from new capital, mergers and treasury shares) may be used to offset a deficit; in addition, when the Company has no deficit, such capital surplus may be distributed as cash dividends or share dividends up to a certain

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percentage of the Company’s paid-in capital. The capital surplus arising from investments accounted for using the equity method and from dividends had not been received during the given period by stockholders are used to offset a deficit only. The capital surplus arising from employee stock option may not be used for any purposes.

Retained earnings and dividends policy

In accordance with the dividends policy as set forth in the Company’s Articles of Incorporation, where the Company made a profit in a fiscal year, the profit after tax shall be first utilized for offsetting losses of previous years, setting aside as a legal reserve 10% of the remaining profit, setting aside or reversing a special reserve in accordance with the laws and regulations, and then any remaining profit together with any undistributed retained earnings shall be used by the Company’s board of directors as the basis for proposing a distribution plan, which should be resolved in the shareholders’ meeting for the distribution of dividends and bonuses to shareholders. For the policies on the distribution of employees’ compensation and remuneration of directors after the amendment, please refer to “employees’ compensation and remuneration of directors” in Note 28 (g).

The industry that the Company operates in is in the maturity stage. Consequently, in order to take R&D needs and diversification into consideration, shareholders’ dividends shall be no less than 10% of the distributable earnings in the current year, of which the cash dividends not be no less than 10% of the total dividends. However, if the distributable earnings of the year are less than $0.1 per share, it shall not be distributed.

The appropriation of earnings to the legal reserve shall be made until the legal reserve equals the Company’s paid-in

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

Items referred to under Rule No. 1010012865 and Rule No. 1010047490 issued by the FSC and the directive titled “Questions and Answers for Special Reserves Appropriated Following Adoption of IFRSs” should be appropriated to or reversed from a special reserve by the Company.

The appropriations of earnings for 2019 and 2018 as approved in the shareholders’ meetings on June 12, 2020 and 2019, respectively, were as follows:

Legal reserve Special reserve Cash dividends	Appropriation of Earnings 2019 2018 $ 129,872 $ 53,994 350,533 55,399 594,382 356,629 $ 1,074,787 $ 466,022	Appropriation of Earnings 2019 2018 $ 129,872 $ 53,994 350,533 55,399 594,382 356,629 $ 1,074,787 $ 466,022	Appropriation of Earnings 2019 2018 $ 129,872 $ 53,994 350,533 55,399 594,382 356,629 $ 1,074,787 $ 466,022	Dividends Per Share(NT$)	Dividends Per Share(NT$)
		2019 $ 129,872 350,533 594,382 $ 1,074,787		2019 $ 0.5	2018
					$ 0.3

The appropriations of earnings for 2020 as proposed to discuss in the Company's shareholders' Meeting on March 8, 2021 is as follows:

follows:
Legal reserve Special reserve Cash dividends	Appropriation of Earnings $ 233,461 ( 405,932) 1,188,763 $ 1,016,292	Dividends Per Share(NT$) $ 1

d.

The appropriation of earnings for 2020 is to be resolved in the General Shareholders' Meeting on June 11, 2021. Other equity items

1) Exchange differences on translating the financial statements of foreign operations
90 -

Balance at January 1 Recognized during the period Exchange differences on translating foreign operations Related income tax Disposition of subsidiaries’ equity Balance at December 31	2020	2019
	( $ 602,871 ) 24,165 ( 4,929 ) ( 230) ($ 583,855)	( $ 208,307 ) ( 493,822 ) 99,875 ( 617) ($ 602,871)

2) Unrealized gain (loss) on financial assets at FVTOCI

2020 2019 Balance at January 1 ( $ 178,187 ) ( $ 85,136 ) Recognized during the period Unrealized gain Equity instruments 444,886 ( 61,991 ) Related income tax ( 1,117 ) 290 Cumulative unrealized gain (loss) of equity instruments transferred to retained earnings due to disposals 78,078 ( 31,350) Balance at December 31 $ 343,660 ( $ 178,187 ) e. Non-controlling interests 2020 2019 Balance at January 1 $ 20,517,444 $ 18,267,556 Adjustment on initial application of IFRS 16 - ( 4,490) Balance at January 1 20,517,444 18,263,066 Cash dividends of subsidiaries’ shareholders ( 519,048 ) ( 705,440 ) Share in profit for the period 3,272,859 1,264,037 Other comprehensive income (loss) in the period Exchange difference on translating foreign operations 142,313 480,649 Income tax relating to exchange difference on translating foreign operations ( 8,019 ) 52,790 Unrealized gain (loss) on financial assets at FVTOCI ( 94,467 ) ( 117,760 )	2020		2019

(Continued)

91 -

Income tax relating to unrealized gain (loss) on financial assets at FVTOCI Remeasurements in defined benefits plan Income tax relating to remeasurements in defined benefits plan Adjustments relating to changes accounted for using the equity method Disposition of subsidiaries’ equity Changes in non-controlling interests Balance at December 31	2020 ( 2,337 ) 15,846 ( 2,238 ) ( 28,871 ) ( 85 ) 4,439,468 $ 27,732,865	2019
		627 12,315 ( 1,597 ) 632 ( 1,932 ) 2,233,115 $ 20,517,444

f. Treasury shares

Treasury shares
Purpose of Buy-Back Year 2020 Transfer from shares held by subsidiaries under equity method Year 2019 Transfer from shares held by subsidiaries under equity method The Company’s the reporting period	Number of Shares at January 1 (In Thousands of Shares) Increase During the Period Decrease During the Period 116,466 - - 116,466 - - shares held by its subsidiaries at were as follows:	Number of Shares at December 31 (In Thousands of Shares)
		116,466 116,466 the end of

Name of Subsidiary December 31, 2020 Asia Polymer Corporation (“APC”) Taita Chemical Company, Limited (“TTC”)	Number of Shares Held (In Thousands of Shares) 101,356 15,110	Carrying Amount (In Thousands of Shares) $ 1,377,381 81,875	Market Price (In Thousands of Shares)	Market Price (In Thousands of Shares)
				$ 2,290,638 341,484 (Continued)

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Name of Subsidiary December 31, 2019 APC TTC	Number of Shares Held (In Thousands of Shares) 101,356 15,110	Carrying Amount (In Thousands of Shares) $ 1,459,256 $ 1,377,381 81,875 $ 1,459,256	Market Price (In Thousands of Shares)	Market Price (In Thousands of Shares)
				$ 2,632,122 $ 1,403,776 209,272 $ 1,613,048

The Company’s shares held by subsidiaries are regarded as treasury shares. Investments accounted for using the equity method are reclassified as treasury shares.

The Company’s shares held by APC and TTC were carried as unrealized gain (loss) on financial assets at FVTOCI and valued at the closing price of December 31, 2020 and December 31, 2019. The carrying amounts of investments accounted for using the equity method and the unrealized gain on financial assets at FVTOCI were $390,637 thousand, $55,255 thousand respectively.

27. REVENUE

REVENUE
Product sales revenue Plastic materials Electronic materials Others Total		2020		2019
		$47,540,059 2,141,880 519,334 $ 50,201,273		$52,990,243 2,114,637 551,861 $55,656,741

Product sales revenue of the Group mainly comes from selling polyethylene plastic and other related products.

a. Contract balances

a. Contract balances
Notes and accounts receivables (Note 10) Contracted liabilities (recognizing other current liabilities) Product sales	December 31,2020 $ 7,481,916 $ 212,751	December 31,2019 $ 7,045,512 $ 151,664	January1,2019
				$ 8,548,733 $ 118,400

b. Refer to Note 41 for revenue breakdown list.
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28. NET PROFIT FROM CONTINUING OPERATIONS

Net profit from continuing operations was attributable to:

Owners of the Company Non-controlling interests		2020 $ 2,408,256 3,270,108 $ 5,678,364	2019
			$ 1,279,873 1,261,353 $ 2,541,226

Net profit from continuing operations includes the following:

a. Interest income

Interest income
Cash and cash equivalents Beneficial securities Financial assets at FVTPL Others		2020 $ 95,574 5,042 1,739 193 $ 102,548	2019
			$ 123,110 27,697 850 2,049 $ 153,706

b. Other income

Other income
Dividend income Rental income Government grants income (Note 15) Allowance income Claims income Management service income (Note 35) Commission income Others		2020 $ 186,949 57,416 - 6,021 32,729 36,647 135 54,770 $ 374,667	2019
			$ 162,687 55,591 155,710 46,672 34,189 22,606 2,764 95,266 $ 575,485

c. Other gains and losses

Other gains and losses
Gain on disposal of property, plant and equipment Loss on disposal of property, plant and equipment Gain on disposal of investments - Net Net foreign exchange (loss) gain Net gain (loss) on financial assets at FVTPL Net (loss) gain on financial liabilities at FVTPL Claims loss Impairment losses recognized on non- financial assets Depreciation expenses Other gains and losses		2020 $ 13,217 50,466 ) 349,540 141,222 ) 46,904 21,247 ) 96 ) 3,955 ) 56,101 ) 4,232) $ 132,342	2019
	( ( ( ( ( ( (		$ 46,186 ( 4,805 ) 13,456 ( 159,831 ) 236,224 19,397 ( 919 ) ( 1,252 ) ( 56,202 ) ( 55,389) ($ 1,929)

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d. Finance costs

Finance costs
Interest on bank loans Interest on bonds payable Other interest expense Interest on lease liabilities Less: Capitalized interest (included in construction in progress)		2020 $ 136,072 80,898 65 7,303 2,648) $ 221,690	2019
	(		$ 203,488 88,887 1,054 9,140 ( 17,347) $ 285,222

Information about capitalized interest is as follows:

Capitalized interest Capitalization rate e. Depreciation and amortization Property, plant and equipment Right-of-use assets Investment properties Intangible assets Others Analysis of depreciation by function Operating costs Operating expenses Other gains and losses Analysis of amortization by function Operating costs Selling and marketing expenses General and administrative expenses Research and development expenses f. Employee benefits expense Post-employment benefits (Note 24) Defined contribution plans Defined benefit plans Other employee benefits Total employee benefits expense Analysis of employee benefits expense by function Operating costs Operating expenses		2020 $ 2,648 0.66%`～`1.25% 2020 $ 2,170,135 66,458 28,219 8,866 64,938 $ 2,338,616 $ 2,087,923 120,788 56,101 $ 2,264,812 $ 62,660 457 5,074 5,613 $ 73,804 2020 $ 108,274 41,135 149,409 4,403,559 $ 4,552,968 $ 3,177,791 1,375,177 $ 4,552,968	2019
			$ 17,347 0.66%`～`1.25% 2019
			$ 2,050,117 64,549 26,579 22,503 57,502 $ 2,221,250 $ 1,971,873 113,170 56,202 $ 2,141,245 $ 55,682 9,204 8,103 7,016 $ 80,005 2019
			$ 145,458 48,151 193,609 4,273,120 $ 4,466,729 $ 3,078,053 1,388,676 $ 4,466,729

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g. Employees’ compensation and remuneration of directors

The Company accrued employees’ compensation and remuneration of directors at the rate of no less than 1% and no higher than 1%, respectively, of net profit before income tax. The employees’ compensation and remuneration of directors for the years ended December 31, 2020 and 2019, which were resolved by the Company’s board of directors on March 8, 2021 and March 9, 2020 respectively as follows:

Accrual rates

Accrual rates
Employees’ compensation Remuneration of directors Amount Employees’ compensation Remuneration of directors	2020 1.00% 0.12% 2020 $ 25,892 3,000	2019
		1.00% 0.37% 2019
		$ 14,793 5,500

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

There was no difference between the actual amounts of employees’ compensation and remuneration of directors paid and the amounts recognized in the consolidated financial statements for the years ended December 31, 2019 and 2018.

Information on the employees’ compensation and remuneration of directors resolved by the Company’s board of directors in 2020 and 2019 is available at the Market Observation Post System website of the Taiwan Stock Exchange.

h. Gain or loss on foreign currency exchange

Foreign exchange gains Foreign exchange losses Net loss		2020 $ 208,064 349,286) $ 141,222)	2019
	( (		$ 260,583 ( 420,414) ($ 159,831)

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29. INCOME TAX RELATING TO CONTINUING OPERATIONS

a. Income tax recognized in profit or loss
The major components of income tax expense were as
follows:

follows:
Current tax In respect of the current year Surtax on undistributed earnings Adjustments for prior years Subsidiary earnings repatriation Change in Tax Foreign tax credit Deferred tax In respect of the current year Effect on deferred tax from subsidiary's earning repatriation Adjustments for prior years Others Income tax expense recognized in profit or loss		2020 $ 1,397,023 24,895 48,698) 10,685 114 17,736) 1,366,283 101,398 24,688 ) 139) 2,496) 74,075 $ 1,440,358		2019
	( ( ( ( (		( (	$ 641,322 33,804 298) - - 95) 675,329 141,168 - 1,434 2,213 144,815 $ 820,144

Accounting income and income tax expenses are adjusted as follows:

follows:
Net profit before tax of continued operations Income tax expenses from net profit before tax calculated by legal tax rate Gains non-deductible on tax Income with tax exempted Surtax on undistributed earnings Unrecognized loss dedution and deductible temporary difference Subsidiary earning repatriation Invested company's liquidated loss of capital decrease Unrecognized investment deduction Change in tax rate Adjustments for income tax expense for prior years Others Income tax expense recognized in profit or loss		2020 $ 7,118,722 $ 2,636,280 5,464 1,025,343 ) 24,895 104,437 ) 14,003 ) 8,057 ) 5,087 ) 114 48,837 ) 20,631) $ 1,440,358	2019
	( ( ( ( ( ( (		$ 3,361,370 $ 1,073,124 5,801 ( 410,853 ) 33,804 92,192 - - - 1,732 24,344 $ 820,144

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The income tax rate of the Company and its domestic subsidiaries is 20%. The income tax rate of subsidiaries in China is 25%. The tax amount generate by other jurisdictions is calculated based on the applicable tax rate in each relevant jurisdictions.

In July 2019, the President of the ROC announced the amendments to the Statute for Industrial Innovation, which stipulate that the amounts of unappropriated earnings in 2018 and thereafter that are reinvested in the construction or purchase of certain assets or technologies are allowed as deduction when computing the income tax on unappropriated earnings. When calculating the tax on unappropriated earnings, the Group has deducted the amount of capital expenditure from the unappropriated earnings that was reinvested.

b. Income tax recognized in other comprehensive income

Deferred tax In respect of the current year Translation of foreign operations Fair value changes of financial assets at FVTOCI Remeasurements in Defined Benefits Plan Total income tax recognized in other comprehensive income		2020		2019
	( ( ( (	$ 12,938 ) 3,454 ) 2,668) $ 19,060)	( (	$ 152,665 ) 917 1,136) $ 152,446

c. Income tax assets and liabilities

Income tax assets and liabilities
Income tax assets In respect of the current year Tax refund receivable Income tax liabilities Income tax payable		December 31, 2020		December 31, 2019
		$ 29,231 $ 1,211,350		$ 11,919 $ 517,913

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d. Deferred income tax assets and liabilities

2020

2020
Deferred income tax assets Temporary difference Defined benefits pension plan Investment in equity method loss for market price decline and obsolete and slow- moving inventories Allowance for loss Unrealized gains Leave payable Others Loss deduction Deferred income tax liabilities Temporary difference Investment in equity method Book-tax differences between new/old recognized years Land revaluation Others	Balance beginning $ 267,288 73,424 44,160 12,714 2,896 25,327 190,012 615,821 27,894 $ 643,715 $ 556,381 44,719 800,993 9,808 $ 1,411,901	Recognized in profit/loss ( $ 30,132 ) ( 3,486 ) ( 5,090 ) ( 270 ) ( 784 ) 249 ( 5,938) ( 45,451 ) ( 1,899) ( $ 47,350 ) 32,891 ( 2,348 ) - ( 3,818 ) $ 26,725	Recognized in comprehensive profit/loss ( $ 2,668 ) 2,423 - - - - ( 22,203) ( 22,448 ) - ( $ 22,448 ) ( $ 6,842 ) - - 3,454 ( $ 3,388 )	Translating difference $ - - 3 67 - ( 1 ) ( 101) ( 32 ) ( 35) ( $ 67 ) $ - ( 432 ) - - ( $ 432 )	Balance ended $ 234,488 72,361 39,073 12,511 2,112 25,575 161,770 547,890 25,960 $ 573,850
			(		$ 582,430 41,939 800,993 9,444 $ 1,434,806
			(

99 -

2019

2019
Deferred income tax assets Temporary difference Defined benefits pension plan Investment in equity method loss for market price decline and obsolete and slow-moving inventories Allowance for loss Unrealized gains Leave payable Others Loss deduction Deferred income tax liabilities Temporary difference Investment in equity method Foreign operation's translating difference Book-tax differences between new/old recognized years Land revaluation Others		Balance beginning Recognized in profit/loss	Recognized in comprehensive profit/loss	Translating difference Balance ended
		$ 296,538 ( $ 28,114 ) 91,430 ( 21,640 ) 67,863 ( 23,122 ) 17,786 ( 4,937 ) 3,602 ( 702 ) 22,887 2,442 81,486 ( 11,393 ) 518,592 ( 87,466 ) 51,742 ( 20,771) $ 633,334 ( $ 108,237 ) $ 544,373 39,007 4,709 - 51,730 ( 6,882 ) 800,993 - 6,427 4,453 $ 1,408,232 $ 36,578	( $ 1,136 ) 3,634 - - - - 117,167 119,665 - $ 119,665 ( $ 27,003 ) ( 4,709 ) - - ( 1,069 ) ( $ 32,781 )	$ - $ 267,288 - 73,424 ( 581 ) 44,160 ( 135 ) 12,714 ( 4 ) 2,896 ( 2 ) 25,327 2,752 190,012 2,030 615,821 ( 3,077 ) 27,894 ( $ 1,047 ) $ 643,715 $ 4 $ 556,381 - - ( 129 ) 44,719 - 800,993 ( 3 ) 9,808 ( $ 128 ) $ 1,411,901

100 -

e. Items not recognized as deferred income tax assets

Loss deduction Temporary differences deductible Foreign investment loss in equity method Receivable impairment loss Defined benefits pension plan loss for market price decline and obsolete and slow-moving inventories Book-tax differences between new/old recognized years Others		December 31, 2020 $ 3,851,844 $ 194,414 68,236 - 302,750 106,845 90,088 $ 762,333	December 31, 2019
			$ 4,100,752 $ 733,628 - 13,582 3,647 76,446 436,455 $ 1,263,758

f. Unused loss deduction

As of December 31, 2020, the Group's unused loss deductions, NT$3,981,691 thousand will due by 2130 one by one.

g. Accreditation of income tax

The income tax return of CHONG LOONG TRADING CO., LTD., INOIMA, Sinter Enterprise Co., LTD. and USI through 2019 has been assessed by the tax authorities. The income tax returns of the Company, UPIIC, TVCM, USIIC, APCI, TUVC, TUVM, INOMA, STC, SPC, CLT, CGTD, CGPC, CGPCPOL and USIO through 2018 have been assessed by the tax authoritie s. The income tax returns of ACME through 2017 have been assessed by the tax authorities.

30. EARNINGS PER SHARE

Unit: NT$ Per Share

Basic earnings per share From continuing operations and discontinued operations From discontinued operations From continuing operations Diluted earnings per share From continuing operations and	2020 $ 2.25 - $ 2.25 $ 2.24	$	2019 1.19 - 1.19 1.19
		$
		$

101 -

discontinued operations - - From discontinued operations From continuing operations $ 2.24 $ 1.19

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

Profit for the period

2020 2019 Profit for the period attributable to owners of the Company (earnings used in the computation of basic and diluted earnings per share) $ 2,409778 $ 1,281,364 Less: (Loss) Gain for the period from discounted operations used in computation of basic earnings per share from discounted operations ( 1,522 ) ( 1,491 ) Earnings used in the computation of basic and diluted earnings per share from continuing operations $ 2,408,256 $ 1,279,873

Weighted Average Number of Ordinary Shares Outstanding

Weighted average number of ordinary shares used in computation of basic earnings per share Effect of potentially dilutive ordinary shares: Employees’ compensation issued to employees Weighted average number of ordinary shares used in the computation of diluted earnings per share	Unit: In Thousands of Shares 2020 2019 1,072,298 1,072,298 1,376 1,162 1,073,674 1,073,460

If the Group offered to settle compensation paid to employee s in cash or shares, the Group assumed the entire amount of the compensation would be settled in shares and the resulting potential shares were included in the weighted average number of shares outstanding used in the computation of diluted earnings per share, if the effect is dilutive. Such dilutive effect of the potential shares is included in the computation of diluted earnings per share

102 -

until the board of directors resolves the number of shares to be distributed to employees at their meeting in the foll owing year.

31. SHARE-BASED PAYMENT ARRANGEMENTS

a. ACME did not issue employee share options Year 2020 and 2019. Information on employee share options which were issued was as follows:

as follows:
Employee share options Balance at January 1 Options exercised Balance at December 30		2019
		Number of Options 563 563) -	Weighted average Exercise Price (NT$)
	(		$ 8.2 8.2 -

The above-mentioned employee shares options of ACME were fully exercised from January 1 to December 30, 2019. As of the year ended December 31, 2020, ACME did not have any outstanding employee share options.

The employee shares options of ACME were exercised Year 2019, the weighted average share price is NT$ 14.1.

b. USIO did not have new employee share option plan Year 2020 and 2019.

and 2019.
Employee share options Balance at January 1 Options expired Balance at December 30 Options exercisable, end of period	2020 Number of Options Weighted average Exercise Price (NT$) 133 $ 10.8 - - 133 10.8 133 10.8	2019
	Number of Options 133 - 133 133	Number of Options 167 ( 34) 133 133	Weighted average Exercise Price (NT$)
		(	$ 10.8 10.8 10.8 10.8

103 -

As of the year ended December 31, 2020 and 2019, information on exercisable employee share options which were issued was as follows:

issued was as follows:
December 31,2020 Scope of Exercise Price (NT$) Weighted average Time of Contract before Expired(Year) $10.8 1.4	December 31,2019
Scope of Exercise Price (NT$) $10.8	Scope of Exercise Price (NT$) $10.8	Weighted average Time of Contract before Expired(Year)
		2.4

32. CASH FLOW INFORMATION

a. Non-cash transactions

Year 2020 and 2019, the Group entered into the following non-cash investing and financing activities which were not reflected in the consolidated statements of cash flows:

1) As of the year ended December 31, 2020 and 2019, the amounts of payables for purchases of equipment were $104,811 thousand, $191,407 thousand, respectively.
2) As of the year ended December 31, 2020 and 2019, the amounts of payables for dividends declared but not issued were $71,694 thousand, $17,771 thousand, respectively.

b. Changes in liabilities arising from financing activities

Short-term borrowings Short-term bills payable Bonds payable (including current portions) Long-term borrowings (including current portions Guarantee deposits received Lease liabilities (including current portions) Other non-current liabilities	January1,2020	January1,2020	Cash Flows		N o n - c	a	s h C h	a n g e s	Others
					New Leases		Allocated Finance Costs	Changes in Foreign Currency Exchange Rates
		$ 4,258,980 1,352,810 7,991,283 9,492,970 27,475 552,778 41,778 $ 23,718,074	( $ 1,532,710) ( 696,000 ) ( 1,000,000 ) ( 1,903,200 ) 4,133 ( 68,659 ) ( 778) ($ 5,205,480)		$ - - - - - 3,265 - $ 3,265		$ - - 3,019 230 - 7,303 - $ 10,552	$ - - - - - ( 27,480 ) - ($ 27,480)

104 -

Short-term borrowings Short-term bills payable Bonds payable (including current portions) Long-term borrowings (including current portions Guarantee deposits received Lease liabilities (including current portions) Other non-current liabilities	January1,2019	January1,2019	Cash Flows	N	o n - c	a	s h C h	a n g e s	a n g e s	Others		December 31, 2019
					New Leases		Allocated Finance Costs	Changes in Foreign Currency Exchange Rates
		$ 6,726,854 1,514,784 5,992,604 9,142,624 26,662 - 44,820 $ 23,994,464	( $ 2,467,874 ) 162,000 1,995,630 350,346 813 ( 66,023 ) ( 3,042) $ 352,150		$ - - - - - 73,631 - $ 73,631		$ - - 3,049 - - 9,140 - $ 12,189		$ - - - - - 946 - $ 946	$ - 26 - - - ( 9,140 ) - ($ 9,114)		$ 4,258,980 1,352,810 7,991,283 9,492,970 27,475 552,778 41,778 $ 23,718,074

33. CAPITAL MANAGEMENT

The Group manages its capital to ensure that entities in the Group will be able to continue as going concern while maximizing the return to stakeholders through the optimization of the debt and equity balance. The Group’s overall management strategy rema ins unchanged from the past year.

The capital structure of the Group consists of its net debt and equity.

Key management personnel of the Group review the capital structure periodically. As part of this review, the key management personnel consider the cost of capital and the risks associated with each class of capital. Based on recommendations of the key management personnel, in order to balance the overall capital structure, the Group may adjust the amount of dividends paid to shareholders, and the amount of new debt issued or existing debt redeemed.

34. FINANCIAL INSTRUMENTS

a. Fair value of financial instruments not measured at fair value

105 -

December 31, 2020

December 31, 2020
Financial liabilities Financial liabilities at amortized cost Domestic corporate bonds December 31, 2019	Carrying Amount $ 6,994,302 Carrying Amount $ 7,991,283	F a i		r	V a	l	u e
				Level 2	Level 3 $ - V a		Total
				$ 7,029,198 r		l	$ 7,029,198 u e
Financial liabilities Financial liabilities at amortized cost Domestic corporate bonds
			Level 1 $ -	Level 2	Level 3 $ -		Total
				$ 8,027,387			$ 8,027,387

Expect for the above, the management of the Group considers that the carrying amounts of financial assets and financial liabilities recognized in the consolidated financial statements approximate their fair values. Otherwise, the fair values cannot be reliably measured.

b. Fair value of financial instruments measured at fair value on a recurring basis

1) Fair value hierarchy

December 31, 2020

December 31, 2020
Financial assets at FVTPL Derivative financial assets Domestic listed shares and over- the-counter shares Mutual funds Beneficiary certificates Foreign listed shares Financial assets at FVTOCI Equity instrument investments Domestic listed shares and over- the-counter shares	$	Level 1 - 506,763 4,765,536 233,670 386 5,506,355 Level 1 1,694,805	$	Level 2 5,328 - - - - 5,328 Level 2 -	$	Level 3 - - - - - - Level 3 -	Total $ 5,328 506,763 4,765,536 233,670 386
	$		$		$		$ 5,511,683
	$		$		$		Total $ 1,694,805

(Continued)

106 -

Domestic emerging market shares Domestic unlisted shares Foreign listed shares and over-the- counter shares Foreign unlisted shares Financial liabilities at FVTPL Derivative financial liabilities December 31, 2019
	$	$	$
	$	$	$

Financial assets at FVTPL Derivative financial assets Domestic listed shares and over- the-counter shares Mutual funds Beneficiary certificates Foreign listed shares Financial assets at FVTOCI Equity instrument investments Domestic listed shares and over- the-counter shares Domestic emerging market shares Domestic unlisted shares Foreign listed shares and over-the- counter shares Foreign unlisted shares Financial liabilities at FVTPL Derivative financial liabilities
	$	$	$	$ 14,066 364,057 4,907,560 1,071,797 545 $ 6,358,025 $ 1,614,413 16,178 632,134 $ 8,649 100,139 $ 2,371,513 $ 4,136
	$	$	$
	$ $	$ $	$ $
	$	$	$
	$	$	$

There were no transfers between Levels 1 and 2 Year 2020 and 2019.

107 -

2) Reconciliation of Level 3 fair value measurements of financial instruments

financial instruments
Financial assets at FVTOCI Balance at January 1 Recognized in other comprehensive income (included in unrealized gain (loss) on financial assets at FVTOCI) Disposition Return of capital Balance at December 31	2020 $ 748,451 183,812 ( 15,576) (83,402) $ 833,285	2019
		$ 845,179 ( 44,305) - ( 52,423) $ 748,451

3) Valuation techniques and inputs applied for Level 2 fair

value measurement

Financial Instruments Valuation Techniques and Inputs
Financial liabilities – The corporate bond interest rate domestic corporate announced by Taipei Exchange, of which bonds per-hundred price is calculated according to the credit rating and the expiration date through interpolation method.
Derivatives - foreign Discounted cash flow: Future cash flows exchange forward are estimated based on observable contracts forward exchange rates at the end of the reporting period and contract forward rates, discounted at a rate that reflects the credit risk of various counterparties.
4) Valuation techniques and inputs applied for Level 3 fair value measurement

The Group applied the valuation techniques and inputs for Level 3 fair value measurement for its independent fair value authentication of financial instruments which was carried out by the financial department. Through information from independent resources, the Group keeps the results close to the market state and reviews such results periodically to ensure that they are reasonable. The fair

108 -

values of domestic and foreign unlisted equity securities were determined using the asset-based approach. In this approach, the fair value is determined by the latest net value of the investee company and the financial and business conditions of its observable company. If the discount for the lack of marketability decreases, the fair value of investments will increase. When the discount for lack of marketability increases/decreases by 10%, the fair value will decrease/increase by $83,329 thousand and $74,845 thousand, respectively, Year 2020 and 2019.

c. Categories of financial instruments

Financial assets Financial assets at FVTPL Financial assets mandatorily classified as at FVTPL Financial assets measured at amortized cost Cash and cash equivalents Pledged time and demand deposits Investment products Notes receivable Accounts receivable Other receivables (including related parties) Refundable deposits Financial assets at FVTOCI – equity instrument investments Financial liabilities Financial liabilities at FVTPL`－`Held for trading Financial liabilities measured at amortized cost Short-term borrowings Short-term bills payable	December 31, 2020 $ 5,511,683 9,637,007 739,278 - 671,576 6,810,340 293,459 166,993 2,558,656 20,724 2,726,270 656,704	December 31, 2019
		$ 6,358,025 7,927,403 659,923 158,148 634,435 6,411,077 277,131 181,829 2,371,513 4,136 4,258,980 1,352,810 (Continued)

109 -

Notes payable and accounts payable Other payables (not including salaries payable or taxes payable) Current portion of long-term borrowings Bonds payable Long-term borrowings Guarantee deposits received	December 31, 2020 3,406,837 1,036,004 1,999,233 4,995,069 7,590,000 23,342	December 31, 2019
		2,757,368 1,127,872 1,443,156 6,991,327 9,049,770 27,475

d. Financial Risk Management Objectives and Policies

The Group’s risk control and hedging strategy are influenced by the operational environment. The Group properly monitors and manages the risks related to business nature in accordance with the principle of risk diversification. These risks include market risk (including foreign currency risk, interest rate risk and other price risk), credit risk and liquidity risk.

1) Market risk

The Group’s activities exposed it primarily to the financial risks of changes in foreign currency exchange rates, interest rates and other price risks.

There has been no change to the Group’s exposure to market risks or the manner in which these risks were managed and measured.

a) Foreign currency risk

The Group had conducted foreign currency sales and purchases, which exposed the Group to foreign currency risk. In order to avoid the impact of foreign currency exchange rate changes, which lead to deductions in foreign currency denominated assets and fluctuations in their future cash flows, the Group used foreign exchange forward contracts to eliminate foreign currency exposure and thus mitigate the impact of the risk.

110 -

The use of foreign exchange forward contracts was governed by the Group’s policies approved by the board of directors. Compliance with policies and exposure limits was reviewed by internal auditors on a continuous basis. The Group did not enter into or traded foreign exchange contracts for speculative purposes.

The carrying amounts of the Group’s foreign currency denominated monetary assets and monetary liabilities are set out in Note 39 and the derivatives exposing the Group to foreign currency risk at the end of the reporting period are set out in Note 7.

Sensitivity analysis

The sensitivity analysis of foreign currency risk mainly focuses on the computation of foreign currency monetary items at the end of the financial reporting period (U.S. dollar denominated items). When the Group’s functional currency relative to the USD appreciates/depreciates by 3%, the Group’s profit before tax Year 2020 will decrease/increase by $141,054 thousand; the profit before tax Year 2019 will decrease/increase by $133,615 thousand.

Since this sensitivity analysis is based on the computation of foreign currency exposure at balance sheet date, the management concedes that this analysis cannot properly reflect the mid-year exposures.

Interest rate risk

The Group was exposed to fair value interest rat e risk because the Group held financial assets and financial liabilities at fixed rates; the Group was exposed to cash flow interest rate risk because the Group held financial assets and financial liabilities at floating rates. The Group’s management monitors the

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changes in the market rates on a regular basis and adjusts the floating rate financial liabilities to make the Group’s rates approach market rates in response to the risk caused by changing market rates.

The carrying amounts of the Group’s financial assets and financial liabilities with exposure to interest rates at the end of the reporting period were as follows:

Fair value interest rate risk Financial assets Financial liabilities Cash flow interest rate risk Financial assets Financial liabilities	December 31, 2020 $ 6,090,090 12,084,042 4,057,411 6,342,920	December 31, 2019
		$ 5,253,127 15,821,920 3,441,301 7,826,901

Sensitivity analysis

Regarding the sensitivity analysis of interest risk, the Group’s computation was based on financial assets and financial liabilities with cash flow interest rate risk. A 0.5% increase/decrease of market interest was used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rate. If interest rates had been 0.5% higher/lower and all other variables were held constant, the Group’s profit before tax Year 2020 and 2019 would have decreased/increased by $11,428 thousand and $21,928 thousand, respectively.

c) Other price risk

The Group was exposed to equity price risk through its investments in equity securities listed domestically and overseas and beneficiary certificates. The Group manages this exposure by maintaining a

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portfolio of investments with different risks. In addition, the Group has appointed a special team to monitor the price risk.

Sensitivity analysis

The following analysis was determined based on the price of equity securities at the balance sheet date.

If equity prices fluctuates by 5%, the pre-tax profit Year 2020 and 2019 would have increased/decreased by $37,041 thousand and $71,820 thousand, respectively, as a result of the changes in fair value of financial assets at FVTPL, and the pre-tax other comprehensive income Year 2020 and 2019 would have increased/decreased by $127,933 thousand and $118,576 thousand, respectively, as a result of the changes in fair value of financial assets at FVTOCI.

2) Credit risk

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in a financial loss to the Group. As of the balance sheet date, the Group’s maximum exposure to credit risk, which would cause a financial loss to the Group due to the failure of the counterparty to discharge its obligation, could be equal to the total of the following:

a) The carrying amount of the financial assets recognized in the balance sheets; and
b) The maximum amount payable by the Group due to financial guarantees provided by the Group.

The Group adopted a policy of only dealing with creditworthy counterparties, as a means of mitigating the risk of financial loss from defaults. The Group’s exposure

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and the credit ratings of its counterparties are continuously monitored.

The counterparties of the Group’s trade receivables cover a wide range of customers distributed in different districts include numerous clients distributed over a variety of areas, and are not centered on a single client or location. Besides this, ongoing credit evaluations are performed on the financial condition of counterparties of the trade receivables, so the Group’s credit risk is limited. On the balance sheet date, the Group’s maximum exposure to credit risk approximates the carrying amounts of the respective recognized financial assets as stated in the balance sheet.

3) Liquidity risk

The Group manages liquidity risk by monitoring and maintaining a level of cash and cash equivalents deemed adequate to finance the Group’s operations and mitigate the effects of fluctuations in cash flows.

a) Liquidity and interest rate risk tables for non-derivative financial liabilities

The following table details the Group’s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods based on the probable earliest dates on which the Group can be required to pay. The table has been drawn up based on the undiscounted cash flows of financial liabilities, including the cash flows of interests and principals.

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December 31, 2020

Non-derivative financial liabilities Non-interest bearing liabilities Lease liabilities Floating interest rate liabilities Fixed interest rate liabilities	Weighted Average Interest Rate(%) 0.83-9.25 0.52-2.89 0.35-1.90	o	On Demand r Less than 1 Year		1-5 Years $ - 248,922 4,990,000 7,600,000 $ 12,838,922		5+ Years
			$ 5,623,370 978,464 1,352,920 4,030,350 $ 11,085,104				$ - 316,663 - - $ 316,663

Additional information about the maturity analysis for lease liabilities:

Lease liabilities	Less than 1 Year	Less than 1 Year		1-5 Years	5-10 Years	5-10 Years		10-15 Years		15-20 Years $ 52,399	More than 20 Years
		$ 78,464		$ 248,922		$ 92,146		$ 51,759			$ 120,359

December 31, 2019

Non-derivative financial liabilities Non-interest bearing liabilities Lease liabilities Floating interest rate liabilities Fixed interest rate liabilities	Weighted Average Interest Rate(%) 0.83-9.25 0.83-4.58 0.50-2.60		On Demand or Less than 1 Year		1-5 Years $ - 279,108 6,400,000 9,649,999 $ 16,329,107		5+ Years
			$ 4,695,394 76,667 1,427,131 5,628,050 $ 11,827,242				$ - 357,828 - - $ 357,828

Additional information about the maturity analysis for lease liabilities:

Lease liabilities	Less than 1 Year	Less than 1 Year		1-5 Years	5-10 Years	5-10 Years		10-15 Years		15-20 Years $ 52,399	More than 20 Years
		$ 76,667		$ 279,108		$ 121,078		$ 54,321			$ 130,027

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b) Liquidity and interest rate risk tables for derivative financial liabilities

The following table details the Group’s liquidity analysis for its derivative financial instruments and the undiscounted gross inflows and outflows on those derivatives that require gross settlement. When the amount payable or receivable is not fixed, the amount disclosed has been determined by reference to the projected interest rates as illustrated by the yield curves at the end of the reporting period.

December 31, 2020

Gross settled Foreign exchange forward contracts Inflows Outflows	On Demand or Less than 1 Month $ 914,593 ( 920,172) $ 5,579		1-3 Months $ 1,328,558 1,345,476) $ 16,918)	3 Months to 1 Year
	(	( (		$ 109,690 ( 111,875) ($ 2,185)

December 31, 2019

Gross settled Foreign exchange forward contracts Inflows Outflows	On Demand or Less than 1 Month $ 976,924 ( 972,818) $ 4,106		1-3 Months $ 1,557,083 1,552,082) $ 5,001	3 Months to 1 Year	3 Months to 1 Year
	(	(		( (	$ 28,793 29,358) $ 565)

c) Financing facilities

The Group relies on bank loans as a significant source of liquidity. As of December 31, 2020, December

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31, 2019 and December 31, 2019, the unused amounts of bank loan facilities were as follows:

Bank loan facilities Amount unused	December 31, 2020 $ 34,248,864	December 31, 2019	December 31, 2019
			$ 23,210,225

35. TRANSACTIONS WITH RELATED PARTIES

Balances and transactions between the Company and its subsidiaries (which are related parties of the Company) have been eliminated on consolidation and are not disclosed in this note. Besides information disclosed elsewhere in the other notes, details of transactions between the Group and other related parties are disclosed as follows.

a. Related parties’ names and relationships

Related parties’ names and relationships
Related PartyNames Fujian Gulei Petrochemical Co., Ltd. USI Education Foundation	Relationship with the Group
	Joint venture Other related party

b. Donation expense (classified as general and administrative expenses)

expenses)
Related PartyCategory/Name	2020 $ 8,250		2019
Other related party USI Education Foundation			$ 8,500

c. d.	Management services income (classified as other income) Related PartyCategory/Name 2020 2019 Joint venture $ 36,647 $ 22,606 Other Receivables Related PartyCategory/Name December 31, 2020 December 31, 2019 Joint venture $ 19,369 $ 16,494	Management services income (classified as other income) Related PartyCategory/Name 2020 2019 Joint venture $ 36,647 $ 22,606 Other Receivables Related PartyCategory/Name December 31, 2020 December 31, 2019 Joint venture $ 19,369 $ 16,494	Management services income (classified as other income) Related PartyCategory/Name 2020 2019 Joint venture $ 36,647 $ 22,606 Other Receivables Related PartyCategory/Name December 31, 2020 December 31, 2019 Joint venture $ 19,369 $ 16,494	Management services income (classified as other income) Related PartyCategory/Name 2020 2019 Joint venture $ 36,647 $ 22,606 Other Receivables Related PartyCategory/Name December 31, 2020 December 31, 2019 Joint venture $ 19,369 $ 16,494
			$ 22,606 December 31, 2019
				$ 16,494

e. Compensation of key management personnel
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The types and amounts of the remuneration of directors and other members of key management personnel were as follows:

Short-term employee benefits Post-employment benefits		2020 $ 62,051 324 $ 62,375		2019
				$ 58,563 324 $ 58,887

Compensation of the board and other key management personnel depends on individual performance and market trend.

36. ASSETS PLEDGED AS COLLATERAL

The following assets were provided as guarantees for the tariff of imported raw materials, outward documentary bill, financing facilities, or the gas explosion compensation:

Pledged time deposits (classified as financial assets measured at amortized cost) Property, plant and equipment Investment properties, net Land use rights (classified as right- of-use assets) Refundable deposits (classified as other non-current assets)	December 30, 2020 $ 678,314 927,196 108,178 21,482 62,633 $ 1,797,803	December 31, 2019	December 31, 2019
			$ 659,923 3,802,055 108,178 31,666 93,105 $ 4,694,927

37. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED CONTRACT COMMITMENT

a. As of December 31, 2020 and 2019, the Company’s unused letter of credit amounted to $2,236,491 thousand and $2,715,961 thousand, respectively.
b. The following is regarding the subsidiary, CGTD, who was commissioned to operate LCY Chemical Corp.’s propene pipeline resulting in a gas explosion on July 31, 2014. The second instance judgment of criminal procedures was reached on April 24, 2020,
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whereby three employees of CGTD were all acquitted of the charges.

CGTD arrived at an agreement with the Kaohsiung City Government on February 12, 2015, to pledge certificates of bank deposits of $227,458 thousand (including interest) to Kaohsiung City Government as collateral for the losses caused by the gas explosion. Kaohsiung City Government also filed civil procedure requests in succession against LCY Chemical Corp., CGTD and CPC Corporation. Taiwan Power Company applied for provisional attachment against CGTD’s property on August 27 and November 26, 2015. CGTD has deposited $99,207 thousand in cash to the court, exempted from the provisional attachment. Taiwan Water Corporation also applied for provisional attachment against CGTD’s property on February 3 and March 2, 2017. As of February 26, 2021, the provisionally attached properties were worth $9,581 thousand.

As for the victims, CGTD, LCY Chemical Corp. and the Kaohsiung City Government signed a tripartite agreement for the compensation of 32 victims’ families on July 17, 2015. Each victim’s family received $12,000 thousand, and the total amount of compensation was $384,000 thousand, which was paid by LCY Chemical Corp. LCY Chemical Corp. was in charge of negotiating the compensation with the victims’ families and signing the settlement agreement on behalf of the three parties.

As for the seriously injured, CGTD, LCY Chemical Corp. and the Kaohsiung City Government signed a tripartite agreement for the compensation of the 65 seriously injured victims’ families on October 25, 2017. The compensation was paid by CGTD and the Kaohsiung City Government, and CGTD was in charge of negotiating the compensation with the seriously injured victims’

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families and signing the settlement agreement on behalf of the three parties with the 64 seriously injured victims’ families.

As of February 26, 2021, the victims and victims’ families had written letters or filed civil lawsuits (including criminal lawsuits) against CGTD, LCY Chemical Corp. and CPC for compensation claims. To reduce the lawsuit costs, CGTD came to a compromise and reduced the original claim of $46,677 thousand and settled for a compensation amount of $4, 519 thousand instead. The compensation amount still in the lawsuit and the settlement amount for the victims and the seriously injured as mentioned in the previous paragraph amounted to $3,856,447 thousand. The first-instance judgments of some of the abovementioned civil cases (with a total amount of compensation of approximately $1,341,128 thousand) have been gradually announced starting from June 22, 2018. The proportion of faul t- based liabilities of the Kaohsiung City Government, LCY Chemical Corp. and CGTD is 4:3:3 in most of the case judgments. The total amount of compensation that CGTD, LCY Chemical Corp. and the other defendants are liable for was approximately $401,979 thousand, of which the court ruled an exemption for CGTD in the amount of $6,194 thousand. CGTD had filed an appeal in those civil cases which were announced but not yet settled and entered into the second-instance trials. CGTD had signed a settlement agreement with insurance companies, where based on CGTD’s proportion of fault-based liabilities in the firstinstance judgment, an amount of $136,375 thousand, which is the amount of settlement and civil-case compensation for the victims and the seriously injured (including settled cases) after deducting the maximum insurance claims, was estimated and recognized as liability. However, the actual amount of the

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aforementioned settlement and compensation still depends on the future judgments of the remaining civil cases.

SIGNIFICANT CONTRACTS
a. TVCM along with CPC Corporation, Formosa Plastics Corporation, Mitsui Corp., signed a dichloromethane purchase agreement in which the purchase prices are calculated by the buyers and sellers in accordance with a pricing formula.

b. The Company and Asia Polymer Corporation (APC) entered into a joint venture contract for an investment of Fujian Gulei Petrochemical Co., Ltd. on April 17, 2014. The related entities of the contract or commitments are Ho Tung Chemical Corporation, LCY Chemical Corporation, HsinTay Petroleum Company Limited, Chenergy Global Corporation and Lien Hwa Industrial Corporation. The main contents of the contract and commitments include: (1) the shareholders shall establish Ever Victory Global Limited (hereinafter referred to as the “Joint Venture”) and agree to pass the establishment of the 100%-owned company named Dynamic Ever Investments Limited in Hong Kong, which purpose is to build oil refineries and produce seven products such as ethylene on the Gulei Peninsula in Zhangzhou, Fuj ian Province, as approved by the competent authorities of the Republic of China and according to the business operation permitted by the Joint Venture’s board of directors; and (2) Dynamic Ever Investments Limited will establish a joint venture company in accordance with the laws of the People’s Republic of China with Fujian Refining and Chemical Co., at Gulei Park located in Zhangzhou Fujian Province (“Gulei Company”) and acquire 50% interest of Gulei Company for cooperative investment.

Dynamic Ever Investments Limited and Fujian Refining and Chemical Co. signed “Fujian Gulei Petrochemical Corporation

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Limited Joint Venture Contract” which stipulated an increase in the investment amount, and this contract led to part of the original related contract entities being unable to keep their respective investment ratios as provided by the original contract or to participate in the subsequent capital increase procedures. In order to meet the business requirement of the original contract, the Company and APC resigned the joint venture contract on December 31, 2016 and added a new contractually promised related entity, CTCI Corp. On December 18, 2019, the Company and APC again resigned the joint venture contract and added new contractually promised related entities, Fubon Financial Holding Venture Capital Corporation and Hongfu Investment Co., Ltd.

In order to increase Gulei Company’s operating capital, Ever Victory Global Limited and Hong Kong Dor Po Investment Company Limited (“DOR PO”) signed a joint venture contract for an investment in Dynamic Ever Investment Limited on June 5, 2019. According to the contract, DOR PO would invest US$109,215 thousand in Dynamic Ever Investment Limited. As of December 31, 2020, DOR PO had invested US$103,915 thousand and held 15% ownership interest in Dynamic Ever Investment Limited.

As of December 31, 2018, the Company and APC had invested US$176,268 thousand (approximately $5,442,336 thousand) and US$103,240 thousand (approximately $3,190,905 thousand), respectively, in Ever Conquest Global Limited. Through Ever Conquest Global Limited, the Company and APC increased the capital in Ever Victory Global Limited and then reinvested in Dynamic Ever Investments Limited. The shareholding ratio of the joint venture was 77.5%. Dynamic Ever

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Investments Limited had invested RMB2,304,800 thousand in Gulei.

The Company and APC increased the investment in Ever Conquest Global Limited by US$70,402 thousand (approximately $2,203,645 thousand) and US$40,920 thousand (approximately $1,280,718 thousand), respectively, in 2019. Through Ever Conquest Global Limited, the Company and APC increased the capital in Ever Victory Global Limited and then reinvested in Dynamic Ever Investments Limited. The shareholding ratio of the joint venture was 80.0% after the capital increase. Dynamic Ever Investments Limited invested RMB1,152,400 thousand in Gulei Company Year 2019.

APC increased its investment in Ever Conquest Global Limited by US$26,315 thousand (approximately $783,964 thousand) in the year ended December, 2020. Through Ever Conquest Global Limited, APC increased the capital in Ever Victory Global Limited and then reinvested in Dynamic Ever Investments Limited. The shareholding ratio of the joint venture was 67.4% after the capital increase. Dynamic Ever Investments Limited invested RMB 1,200,000 thousand in Gulei’s share in the year ended December 31, 2020.

c.

Significant operating contracts

CGTD is commissioned to operate the storage and transportation of any items of petrochemical raw materials; operating service changes are calculated in accordance with the actual operation quantities and at the rate stated i n the contracts. The petrochemical raw materials insurance expenses are borne by individual commissioned companies.

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C o m m i s s i o n i n g C o m p a n y
Taita Chemical Company, Ltd.
Taiwan VCM Corporation
USI Corporation
Asia Polymer Corporation
LCY Chemical Corporation
Taiwan Synthetic Rubber Corp.
NANTEX Industry Co., Ltd.
En Chuan Chemical Industries Co., Ltd.
Xin Long Guang Plastics Co., Ltd.
Oriental Union Chemical Corporation
Formosa Plastic Corporation
Chi-Hsen Transportation Company
LCY Chemical Corporation
Shin Foong Specialty and Applied
Materials Co

O p e r a t i o n Co n t r a c t
P
e
r
i
o
d
2020.01.01-2021.12.31
2020.01.01-2021.12.31
2020.01.01-2020.12.31
2020.01.01-2020.12.31
2020.01.01-2021.12.31
2020.01.01-2021.12.31
2020.01.01-2021.12.31
2020.01.01-2021.12.31
2020.01.01-2021.12.31
2020.01.01-2020.12.31
2020.01.01-2021.12.31
2020.01.01-2021.12.31
2020.01.01-2021.12.31
2020.06.01-2020.12.31

The above contracts may be renewed after the expiry of the period.

39. SIGNIFICANT ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES

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

Unit: Foreign and Functional Currencies in Thousands

Foreign currency a s s e t s		December 31,2020	December 31,2020
	F o r e i g n C u r r e n cy	E x c h a n g e R a t e (I n S i ngl e D o l l a r s)	F u n c t i o n a l C u r r e n cy	N T D
	$ 178,315 3,556 3,879 327,585 2,379 853 392	28.48`（`USD`：`NTD`）` 6.52`（`USD`：`RMB`）` 4.19`（`USD`：`MYR`）` 4.36`（`RMB`：`NTD`）` 0.15`（`RMB`：`USD`）` 21.95`（`AUD`：`NTD`）` 35.02`（`EUR`：`NTD`）`	$ 5,078,378 23,202 16,271 1,429,840 365 18,716 13,744	$ 5,078,378 101,272 110,474 1,429,840 10,394 18,716 13,744 (Continued)
Monetary items USD USD USD RMB RMB AUD EUR

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Non-monetary items Joint ventures accounted for using the equity method RMB Derivatives USD sell USD sell RMB sell EUR sell Foreign currency l i a b i l i t i e s		December 31,2020	December 31,2020
	F o r e i g n C u r r e n cy	E x c h a n g e R a t e (I n S i ngl e D o l l a r s)	F u n c t i o n a l C u r r e n cy	N T D
	$ 4,621,047 19,210 550 5,400 284 51,553 14,342 686 30,318 7,471 16,580 248,860 40,000			$ 20,170,030 4,313 896 22 97 1,468,237 408,450 19,545 132,331 830 4,309 15,456 129
Monetary items USD USD USD RMB Non-monetary items Derivatives USD sell USD buy RMB sell JPY buy Foreign currency a s s e t s
	F o r e i g n C u r r e n cy	E x c h a n g e R a t e (I n S i ngl e D o l l a r s)	F u n c t i o n a l C u r r e n cy	N T D
	$ 148,885 3,775 3,072 310,792 3,227 611 343 3,459,518	29.98`（`USD`：`NTD`）` 6.98`（`USD`：`RMB`）` 4.26`（`USD`：`MYR`）` 4.30`（`RMB`：`NTD`）` 0.14`（`RMB`：`USD`）` 21.01`（`AUD`：`NTD`）` 33.59`（`EUR`：`NTD`）` 0.14`（`RMB`：`USD`）`	$ 4,463,547 26,338 13,095 1,335,629 463 12,835 11,518 495,903	$ 4,463,547 113,188 92,609 1,335,629 13,882 12,835 11,518 14,867,168 (Continued)
Monetary items USD USD USD RMB RMB AUD EUR Non-monetary items Joint ventures accounted for using the equity method RMB

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Derivatives USD buy USD sell USD sell RMB sell EUR sell JPY buy Foreign currency l i a b i l i t i e s		December 31,2019	December 31,2019
	F o r e i g n C u r r e n cy	E x c h a n g e R a t e (I n S i ngl e D o l l a r s)	F u n c t i o n a l C u r r e n cy	N T D
	720 41,000 865 81,800 224 40,000 $ 34,005 13,611 737 26,824 8,760 155,900	29.98`（`USD`：`NTD`）` 29.98`（`USD`：`NTD`）` 4.26`（`USD`：`MYR`）` 4.30`（`RMB`：`NTD`）` 4.78`（`EUR`：`MYR`）` 0.01`（`JPY`：`USD`）` 29.98`（`USD`：`NTD`）` 6.98`（`USD`：`RMB`）` 4.26`（`USD`：`MYR`）` 4.30`（`RMB`：`NTD`）` 29.98`（`USD`：`NTD`）` 4.30`（`RMB`：`NTD`）`	23 11,784 136 1,083 28 1 $ 1,019,462 94,955 3,142 115,276 1,395 2,741	23 11,784 960 1,083 198 18 $ 1,019,462 408,069 22,218 115,276 1,395 2,741
Monetary items USD USD USD RMB Non-monetary items Derivatives USD buy RMB sell

Year 2020 and 2019, realized and unrealized net foreign exchange losses were $141,222 thousand and $159,831 thousand, respectively. It is impractical to disclose net foreign exchange gains by each significant foreign currency due to the variety of the foreign currency transactions and functional currencies of the group entities.

40. SEPARATELY DISCLOSED ITEMS

a. Information on significant transactions and b. Information on reinvestment business:
1) Financing provided to others. (Table 1)
2) Endorsements/guarantees provided. (Table 2)
3) Marketable securities held (excluding investment in subsidiaries, associates and joint ventures). (Table 3)
4) Marketable securities acquired or disposed of at accumulative costs/prices of at least NT$300 million or 20% of the paid-in capital. (Table 4)
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5) Acquisitions of individual real estate at costs of at least NT$300 million or 20% of the paid-in capital. (None)
6) Disposals of individual real estate at prices of at least NT$300 million or 20% of the paid-in capital. (None)
7) Total purchases from or sales to related parties amounting to at least NT$100 million or 20% of the paid-in capital. (Table 5)
8) Receivables from related parties amounting to at least NT$100 million or 20% of the paid-in capital. (Table 6)
9) Trading in derivative instruments. (Notes 7 and 34)
10) Others: Intercompany relationships and significant intercompany transactions. (Table 9)
11) Information on investees. (Table 7)
c.
Information on investments in mainland China
1) Information on any investee company in mainland China, showing the name, principal business activities, paid -in capital, method of investment, inward and outward remittance of funds, ownership percentage, net income of investees, investment income or loss, carrying amount of the investment at the end of the period, repatriations of investment income, and limit on the amount of investment in the mainland China area. (Table 8)
2) Any of the following significant transactions with investee companies in mainland China, either directly or indirectly through a third party, and their prices, payment terms, and unrealized gains or losses: (Table 10)
a) The amount and percentage of purchases and the balance and percentage of the related payables at the end of the period. (None)
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b) The amount and percentage of sales and the balance and percentage of the related receivables at the end of the period. (Tables 5)
c) The amount of property transactions and the amount of the resultant gains or losses. (None)
d) The balance of negotiable instrument endorsements or guarantees or pledges of collateral at the end of the period and the purposes. (Table 2)
e) The highest balance during the period, the end of period balance, the interest rate range, and total current period interest with respect to financing of funds. (Table 1)
f) Other transactions that have a material effect on the profit or loss for the period or on the financial position, such as the rendering or receipt of services. (None)
d. Information on main shareholders: Names of shareholders with a shareholding ratio of more than 5%, and numbers and ratios of shares held. (Table 11)

41. SEGMENT INFORMATION

The Group provides its chief operating decision maker with details on about allocated resources and assessed segment information which focus on each financial group entity’s information. The Group’s reportable segment related information is detailed as follows:

a. Reportable segment income information

Segment income Interest income Finance costs Depreciation and amortization Impairment loss Reportable segment profit before tax Reportable segment tax expense Reportable segment net profit				Year 2020
	USI	CGPC and Its Subsidiaries	TTC and Its Subsidiaries	ACME and Its Subsidiaries	APC and Its Subsidiaries	Others	Total
	$ 10,172,220 6,604 ( 107,540 ) ( 617,374 ) - 2,560,322 ( 150,544 ) 2,409,778	$ 13,733,148 3,621 ( 7,387 ) ( 649,622 ) - 2,161,065 ( 373,628 ) 1,787,437	$ 15,498,381 33,052 ( 21,003 ) ( 205,799 ) ( 22,078 ) 2,481,989 ( 562,171 ) 1,919,818	$ 2,169,471 12,084 ( 17,379 ) ( 193,841 ) ( 5,823 ) 74,817 ( 37,443 ) 37,374	$ 5,703,546 7,682 ( 42,537 ) ( 314,636 ) ( 3,955 ) 1,285,411 ( 181,824 ) 1,103,587	$ 4,384,766 39,505 ( 31,738 ) ( 385,222 ) - 1,773,662 ( 134,748 ) 1,638,914	$ 51,661,532 102,548 ( 227,584 ) ( 2,411,494 ) ( 31,856 ) 10,337,266 ( 1,440,358 ) 8,896,908

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Segment income Interest income Finance costs Depreciation and amortization Impairment loss Reportable segment profit (loss) before tax Reportable segment tax expense Reportable segment net profit (loss)				Year 2019
	USI	CGPC and Its Subsidiaries	TTC and Its Subsidiaries	ACME and Its Subsidiaries	APC and Its Subsidiaries	Others	Total
	$ 10,966,471 15,978 ( 121,666 ) ( 517,699 ) - 1,458,987 ( 177,623 ) 1,281,364	$ 15,117,855 15,780 ( 12,203 ) ( 638,066) - 854,008 ( 160,193 ) 693,815	$ 17,672,204 25,213 ( 51,091 ) ( 209,997 ) ( 60,265 ) 558,204 ( 160,227 ) 397,977	$ 2,132,889 12,567 ( 20,999 ) ( 212,322 ) ( 37,939 ) ( 110,824 ) ( 17,641 ) ( 128,465 )	$ 6,791,157 14,876 ( 15,163 ) ( 304,135 ) ( 1,252 ) 984,841 ( 163,820 ) 821,021	$ 4,776,642 69,292 ( 44,151 ) ( 410,217 ) ( 14,131 ) 769,628 ( 140,640 ) 628,988	$ 57,457,218 153,706 ( 306,273 ) ( 2,292,436 ) ( 113,587 ) 4,514,844 ( 820,144 ) 3,694,700

b. Reportable segment income and other major adjustments of items

1) Segment income and operating results

Reportable segment net profit before tax Reportable segment tax expense Reportable segment profit after tax Other non-reportable segment profit Less: Profit between segments Profit from continuing operations Profit from discontinued operations Net profit after tax		2020 $ 8,563,604 1,305,610) 7,257,994 1,638,914 3,218,544) 5,678,364 4,273 $ 5,682,637		2019
	( (		( (	$ 3,745,216 679,504) 3,065,712 628,988 1,153,474) 2,541,226 4,175 $ 2,545,401

2) Other significant items reconciliation

			Year	2020
USI	CGPC and Its Subsidiaries	TTC and Its Subsidiaries	ACME and Its Subsidiaries	APC and Its Subsidiaries	Others	Reconciliation	Total
$ 6,604 ( 107,540 ) ( 617,374 ) -	$ 3,621 ( 7,387 ) ( 694,622 ) -	$ 33,052 ( 21,003 ) ( 205,799 ) ( 22,078 )	$ 12,084 ( 17,379 ) ( 193,841 ) ( 5,823 ) Year	$ 7,682 ( 42,537 ) ( 314,636 ) ( 3,955 ) 2019	$ 39,505 ( 31,738 ) ( 385,222 ) -	$ - 3,246 58,293 -	$ 102,548 ( 224,338 ) ( 2,353,201 ) ( 31,856 )
USI	CGPC and Its Subsidiaries	TTC and Its Subsidiaries	ACME and Its Subsidiaries	APC and Its Subsidiaries	Others	Reconciliation	Total
$ 15,978 ( 121,666 ) ( 517,699 ) -	$ 15,780 ( 12,203 ) ( 638,066 ) -	$ 25,213 ( 51,091 ) ( 209,997 ) ( 60,265 )	$ 12,567 ( 20,999 ) ( 212,322 ) ( 37,939 )	$ 14,876 ( 56,163 ) ( 304,135 ) ( 1,252 )	$ 69,292 ( 44,151 ) ( 410,217 ) ( 14,131 )	$ - 3,704 55,920 -	$ 153,706 ( 302,569 ) ( 2,236,516 ) ( 113,587 )

Since the Group had not offered information about assets of individual operating segments to the operational

129 -

decision maker, no such information from the individual operating segments is included in the segment information.

3) Main Product Revenue

Product Plastic materials Electronic Materials Other	2020 $ 47,540,059 2,141,880 519,334 $50,201,273		2019
			$52,990,243 2,114,637 551,861
			$55,656,741

4) Geographical information

The main operating region of the Group is Asia, therefore the location of non-current assets were not revealed.

The amounts of the Group's revenue from continuing operations from external customers by location are detailed below.

Asia America Europe Africa Oceania Other		2020 $45,053,620 3,416,168 262,617 469,039 187,141 812,688 $50,201,273		2019
				$50,203,661 3,217,101 560,702 611,835 337,114 726,328
				$55,656,741

5) Main Customer Information

No revenue of any single customer has reached/ over 10 % of the total saleing revenue of the Group Year 2019 and 2020.

130 -

USI CORPORA TIO N A ND SU BSIDIA RIES

(Acme Electronics Corporation (A CME)) FINA NCING P ROV IDED TO OTHERS YEAR 2020

TABLE 1-1

(In Thou sands of New Taiwan D ollars, Unle ss State d Otherwi se)

No.	Lender	Borrower	Financial Statement Account	Related Party	Highest Balance for the Period (Note 3)	Ending Balance (Notes 3 and 4)	Actual Borrowing Amount (Notes 3 and 4)	Interest Rate (%)	Nature of Financing (Note 2)	Business Transaction Amounts	Reasons for Short-term Financing	Allowance for Impairment Loss	Collateral	Collateral	Financing Limit for Each Borrower (Note 1)	Aggregate Financing Limit (Note 1)	Remark
													Item	Value
0	Acme Electronics Corporation	ACME Electronics (Cayman) Corp.	Other receivable s - related parties	Yes	$ 265,410 ( USD9,000 thousand)	$ 256,320 ( USD9,000 thousand)	$ 199,360 ( USD7,000 thousand)	1.22038%`～` 3.68375%	2	$ -	Business turnover	$ -	`－`	`－`	$ 518,946	$ 518,946

Note 1: Total fi nancing amo unt s p rovide d t o othe rs shall not excee d 40% of A CME’s net value , a nd the highest aggregate fi nancing limits were calculated by t he net value as of December 31, 2020. Note 2: The natu re of financi ng is provi de d as follow s :

a. Busine ss relatio nship is coded “1”.
b. For short-t erm fi nancing is c ode d “2”.

Note 3: The a mo unt was calculated u sing t he spot exc hange rate as of Dece mbe r 31, 2020.

Note 4: All t he t ransactio ns were writte n -o ff w he n p re paring t he c ons olidate d fi nancial state me nts .

131 -

USI CORPORA TIO N A ND SU BS IDIA RIES

(Swanson Plastics Corporation (SPC)) FINA NCING P ROV IDED TO OTHERS

YEAR 2020

TABLE 1-2

(In Thou sands of New Taiwan D ollars, Unle ss State d Otherwi se)

No.	Lender	Borrower	Financial Statement Account	Related Party	Highest Balance for the Period (Note 3)	Ending Balance (Notes 3 and 4)	Actual Borrowing Amount (Notes 3 and 4)	Interest Rate (%)	Nature of Financing (Note 2)	Business Transaction Amounts	Reasons for Short-term Financing	Allowance for Impairment Loss	Collateral	Collateral	Financing Limit for Each Borrower (Note 1)	Aggregate Financing Limit (Note 1)	Remark
													Item	Value
0 1 2	Forever Young Company Limited ASK-Swanson (Kunshan) Co., Ltd. Swanson Plastics (Singapore) Pte., Ltd.	Swanson International Ltd. Swanson Plastics (Tianjin) Co., Ltd. PT. Swanson Plastics Indonesia	Other receivables - related parties Other receivables - related parties Other receivables - related parties	Yes Yes Yes	$ 93,926 192,702 30,020	$ 88,430 183,322 28,480	$ 88,430 183,322 28,480	- 3.85 2.5	2 2 2	$ - - -	Business turnover Business turnover Business turnover	$ - - -	`－` `－` `－`	`－` `－` `－`	$ 150,885 555,645 365,574	$ 226,327 555,645 365,574

Note 1: The li mits of fina ncing provi ded to ot hers ba s e d on the total a mou nt of fu nds le ndi ng to ot hers and the li mits of i ndivi dual objects set by the companie s.

Note 2: The natu re of financi ng is provi de d as follow s :

a. Busine ss relatio nship is coded “1”.
b. For short-t erm fi nancing is c ode d “2”.

Note 3: The a mo unt was calculated u sing t he spot exc hange rate as of Dece mbe r 31 , 2020.

Note 4: All t he t ransactio ns were writte n -o ff w he n p re paring t he c ons olidate d fi nancial state me nts .

132 -

USI CORPORA TIO N A ND SU BSIDIA RIES

(Taita Che mical Company, Limite d ( TTC)) FINA NCING P ROV IDED TO OTHERS

YEAR 2020

TABLE 1-3

(In Thou sands of New Taiwan D ollars, Unle ss State d Otherwi se)

No.	Lender	Borrower	Financial Statement Account	Related Party	Highest Balance for the Period (Note 4)	Ending Balance (Notes 4 and 5)	Actual Borrowing Amount (Notes 4 and 5)	Interest Rate (%)	Nature of Financing (Note 3)	Business Transaction Amounts	Reasons for Short-term Financing	Allowance for Impairment Loss	Collateral	Collateral	Financing Limit for Each Borrower (Notes 1,2 and 4)	Aggregate Financing Limit (Notes 1, 2 and 4)	Remark
													Item	Value
1	Taita Chemical (Zhongsan) Co., Ltd.	Taita Chemical (Tianjin) Co., Ltd.	Other receivables – related parties	Yes	$ 240,064 ( RMB 55,000 thousand )	$ - ( RMB - thousand )	$ - ( RMB - thousand )	-	2	$ -	Business turnover	$ -	`－`	`－`	$ 2,947,550	$ 2,947,550

Note 1: The total a mou nt of le ndi ng to TTC for fu nding of a s hort - term pe riod s hall not e xcee d 40% of the net wort h of TTC. As of December 31, 2020, TTC did not loan fu nds to anyone .

Note 2: The t otal amou nt o f le ndi ng to a co mpany for fu ndi ng of s hort -term period shall not excee d 40% of t he au dited net worth of Taita Chemical (Zhongsan) Co., Lt d. The rest riction does not app l y t o t he subsidiaries w hose v oti n g shares are 100% owne d, di rectl y or indirectl y, by TTC. As of Dec ember 31, 2020, t he audite d net worth of Taita Che mical ( Zhongsan) Co., Ltd. wa s RMB 6 75,297 thousand. Taita Chemical (Zhongsa n) Co., Lt d. agre ed t o exe mpt of loaning RMB 15 ,000 tho usand to Tai ta Che mical ( Tianj in) Co ., Lt d.

Note 3: The natu re of financi ng is provi de d as follow s :

a. Busine ss relatio nship is coded “1”.
b. For short-t erm fi nancing is c ode d “2”.

Note 4: The a mo unt was calculated u sing t he spot exc hange rate as of Dece mbe r 31, 2020.

Note 5: All t he t ransac tio ns were writte n-o ff w he n p re paring t he c ons olidate d fi nancial state me nts .

133 -

USI CORPORATION AND SUBSIDIARIES

ENDORSEMENTS/GUARANTEES PROVIDED

YEAR 2020

TABLE 2

(In Thou sands of New Taiwan D ollars, Unle ss State d Otherwi se)

No.	Endorser/Guarantor	E n d o r s e e / G u a r a n t e e	E n d o r s e e / G u a r a n t e e	Limits on Endorsement/ Guarantee Given on Behalf of Each Party (Note 1)	Maximum Amount Endorsed/ Guaranteed During the Period (Note 2)	Outstanding Endorsement/ Guarantee at the End of the Period (Note 2)	Actual Borrowing Amount	Amount Endorsed/ Guaranteed by Collateral	Ratio of Accumulated Endorsement/ Guarantee to Net Equity in Latest Financial Statements (%)	Aggregate Endorsement/ Guarantee Limit (Note 1)	Endorsement/ Guarantee Given by Parent on Behalf of Subsidiaries	Endorsement/ Guarantee Given by Subsidiaries on Behalf of Parent	Endorsement/ Guarantee Given on Behalf of Companies in Mainland China	Remark
		Name	Relationship
0 0	USI Corporation USI Corporation	Union Polymer Int'l Investment Corp. Chong Loong Trading Co., Ltd.	Subsidiary which directly held more than 50% of ordinary shares Subsidiary which directly held more than 50% of ordinary shares	$ 10,495,389 10,495,389	$ 3,900,000 304,800 ( USD10,000 thousand ) ( NTD20,000 thousand )	$ 3,900,000 304,800 ( USD10,000 thousand ) ( NTD20,000 thousand )	$ 1,427,000 35,909	$ - -	18.58 1.45	$ 12,594,467 12,594,467	Yes Yes	No No	No No

Note 1: The total endorsements/guarantees provided amounts shall not exceed 60% of t he Company’s net value. The amount of endorsements/guarantees for an individual entity shall not exceed 50% of the Company’s net value. The maximum amount of endorsement/guarantees was calculated based on net value as of December 31, 2020.

Note 2: The amount was calculated using the spot exchange rate as of December 31, 2020

134 -

USI CORPORATION AND SUBSIDIARIES

(Acme Electronics Corporation)

ENDORSEMENTS/GUARANTEES PROVIDED

YEAR 2020

TABLE 2-1

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

No.	Endorser/Guarantor	E n d o r s e e / G u a r a n t e e	E n d o r s e e / G u a r a n t e e	Limits on Endorsement/ Guarantee Given on Behalf of Each Party (Note 2)	Maximum Amount Endorsed/ Guaranteed During the Period	Outstanding Endorsement/ Guarantee at the End of the Period (Note 3)	Actual Borrowing Amount (Note 3)	Amount Endorsed/ Guaranteed by Collaterals	Ratio of Accumulated Endorsement/ Guarantee to Net Equity in Latest Financial Statements (%) (Note 1)	Aggregate Endorsement/ Guarantee Limit (Note 2)	Endorsement/ Guarantee Given by Parent on Behalf of Subsidiaries	Endorsement/ Guarantee Given by Subsidiaries on Behalf of Parent	Endorsement/ Guarantee Given on Behalf of Companies in Mainland China	Remark
		Name	Relationship
0	Acme Electronics Corporation	Acme Electronics (Kunshan) Co., Ltd. Acme Electronics (Guang-Zhou) Co., Ltd.	Subsidiary of ACME (Cayman) Subsidiary of GAEL	$ 1,946,046 1,946,046	$ 363,000 ( USD 12,000 thousand) 151,250 ( USD 5,000 thousand )	$ 142,400 ( USD 5,000 thousand ) -	$ 113,920 ( USD 4,000 thousand ) -	- -	10.98 -	$ 2,594,728 2,594,728	No No	No No	Yes Yes

Note 1: The rate was calculated by the ending balance of equity of the endorser/guarantor as of December 31, 2020.

Note 2: The maximum amount of total endorsement/guarantee shall not exceed 200% of the equity attributable to owners of the endorser/guarantor. The maximum amount of endorsement/guarantee for an individual entity shall not exceed 150% of the equity attributable to owners of the endorser/guarantor . The maximum amount of endorsement/guarantee was calculated based on the equity of the endorser/guarantor as of December 31, 2020.

Note 3: The foreign currency amount was calculated based on the spot exchange rate as of December 31, 2020.

135 -

USI CORPORATION AND SUBSIDIARIES

(Swanson Plastics Corporation (SPC))

ENDORSEMENTS/GUARANTEES PROVIDED

YEAR 2020

TABLE	2-2							(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)	(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)	(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)	(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)	(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)	(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)	(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)
No.	Endorser/Guaran tor	E n d o r s e e / G u a r a n t e e		Limits on Endorsement/ Guarantee Given on Behalf of Each Party (Note 1)	Maximum Amount Endorsed/ Guaranteed During the Period	Outstanding Endorsement/ Guarantee at the End of the Period (Note 2)	Actual Borrowing Amount (Note 2)	Amount Endorsed/ Guaranteed by C o l l a t e r a l	Ratio of Accumulated Endorsement/ Guarantee to Net Equity in Latest Financial Statements (%)	Aggregate Endorsement/ Guarantee Limit (Note 1)	Endorsement /Guarantee Given by Parent on Behalf of Subsidiaries	Endorsement /Guarantee Given by Subsidiaries on Behalf of Parent	Endorsement /Guarantee Given on Behalf of Companies in Mainland China	Remark
		Name	Relationship
0 0 0 0 0 0 0 0	Swanson Plastics Corporation Swanson Plastics Corporation Swanson Plastics Corporation Swanson Plastics Corporation Swanson Plastics Corporation Swanson Plastics Corporation Swanson Plastics Corporation Swanson Plastics Corporation	Swanson Plastics (Singapore) Private Limited Swanson Plastics (Malaysia) Sdn. Bhd. Swanson Plastics (Kunshan) Co., Ltd. Swanson Technologies Corporation Swanson Plastic (Tianjin) Co., Ltd. PT. Swanson Plastics Indonesia Forever Young Co., Ltd. Swanson Plastics (India) Private Limited	Subsidiary Sub-subsidiary Sub-subsidiary Subsidiary Sub-subsidiary Subsidiary Subsidiary Sub-subsidiary	$ 5,204,386 5,204,386 5,204,386 5,204,386 5,204,386 5,204,386 5,204,386 5,204,386	$ 54,078 36,300 121,000 219,488 60,500 60,500 1,875,850 90,750	$ 50,979 34,176 85,440 219,488 28,480 56,960 1,436,032 -	$ 369 - - 119,850 - - - -	$ - - - - - - - -	1.96 1.31 3.28 8.43 1.09 2.19 55.19 -	$ 6,505,483 6,505,483 6,505,483 6,505,483 6,505,483 6,505,483 6,505,483 6,505,483	No No No No No No No No	No No No No No No No No	No No Yes No Yes No No No

Note 1: The amount of endorsements/guarantees for an individual entity shall not exceed 200% of SPC’s equity. The maximum amount of total endorsements/guarantees shall not exceed 250% of SPC’s equity.

Note 2: The foreign currency amount was calculated based on the spot exchange rate as of December 31, 2020.

136 -

USI CORPORATION AND SUBSIDIARIES

(China General Plastics Corporation (CGPC)) ENDORSEMENTS/GUARANTEES PROVIDED YEAR 2020

TABLE 2-3

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

No.	Endorser/ Guarantor	E n d o r s e e/G u a r a n t e e	E n d o r s e e/G u a r a n t e e	Limits on Endorsement/ Guarantee Given on Behalf of Each Party (Note 2)	Maximum Amount Endorsed/ Guaranteed During the Period	Outstanding Endorsement/ Guarantee at the End of the Period	Actual Borrowing Amount	Amount Endorsed/ Guaranteed by Collateral	Ratio of Accumulated Endorsement/ Guarantee to Net Equity in Latest Financial Statements (%) (Note 1)	Aggregate Endorsement/ Guarantee Limit (Note 2)	Endorsement/ Guarantee Given by Parent on Behalf of Subsidiaries	Endorsement/ Guarantee Given by Subsidiaries on Behalf of Parent	Endorsement/ Guarantee Given on Behalf of Companies in Mainland China	Remark
		Name	Relationship
0	China General Plastics Corporation	CGPC Polymer Corporation	Subsidiary	$ 5,822,109	$ 2,245,000	$ 2,45,000	$ 14,240	$ -	25.25	$ 9,703,515	No	No	No

Note 1: The ratio was calculated by the ending balance of equity of CGPC as of December 31, 20 20.

Note 2: The total amount of guarantee that may be provided by CGPC shall not exceed 100% of CGPC’s net worth stated on its la test financial statement. The amount of guarantee that may be provided by CGPC to any individual entity shall not exceed 60% of CGPC’s net worth stated on its latest financial statement.

137 -

USI CORPORA TIO N A ND SU BSIDIA RIES

(Taita Che mical Company, Ltd. ( TTC))

END ORSEMENTS/ GUARA NTEES P ROV IDED

YEAR 2020

TABLE 2-4

(In Thou sands of New Taiwan D ollars, Unle ss State d Otherwi se)

No.	Endorser/Guarantor	E n d o r s e e / G u a r a n t e e	E n d o r s e e / G u a r a n t e e	Limits on Endorsement/ Guarantee Given on Behalf of Each Party (Note 2)	Maximum Amount Endorsed/ Guaranteed During the Period (Note 1)	Outstanding Endorsement/ Guarantee at the End of the Period (Note 1)	Actual Borrowing Amount (Note 1)	Amount Endorsed/ Guaranteed by Collateral	Ratio of Accumulated Endorsement/ Guarantee to Net Equity in Latest Financial Statements (%)	Aggregate Endorsement/ Guarantee Limit (Note 2)	Endorsement/ Guarantee Given by Parent on Behalf of Subsidiaries	Endorsement/ Guarantee Given by Subsidiaries on Behalf of Parent	Endorsement/ Guarantee Given on Behalf of Companies in Mainland China	Remark
		Name	Relationship
0 0	Taita Chemical Company, Ltd. Taita Chemical Company, Ltd.	TAITA (BVI) Holding Co., Ltd. Taita Chemical (Zhongsan) Co., Ltd.	Subsidiary with 100% held ordinary shares Subsidiary whose ordinary shares were 100% held by TTC’s subsidiaries	$ 6,355,806 6,355,806	$ 1,625,280 ( USD 26,000 thousand ) ( NTD 600,000 thousand ) 436,480 ( RMB100,000 thousand)	$ 1,340,480 ( USD 36,000 thousand ) ( NTD 600,000 thousand ) 436,480 ( RMB100,000 thousand)	$ - -	$ - -	21.09 6.87	$ 9,533,709 9,533,709	No No	No No	No Yes

Note 1: The a mo unt was calculated at t he spot exc hange rate as of Dece mbe r 31, 2020.

Note 2 : The ceiling to TTC o n the t otal a mou nt of endorse ment s/ guara ntees pe rmitte d s hall not e xceed 150 % of TTC’s net worth; the ceiling to TTC on t he total amou nt of e ndorse me nts/ gua rantee s t o any individua l entity s hall not excee d 100% of TTC’s net worth.

The ceili ng t o TTC and its su bsi diaries on t he total amount of e ndorse me nts/ gua rantee s permitted shall not excee d 200% of TTC ’s ne t wort h; t he ce iling to TTC a nd its su bsidiarie s on the t otal amount of endorse me nts/ guara ntees to any i ndivi dual e ntity s ha ll not excee d 150% of TTC’s net worth.

138 -

USI CORPORATION AND SUBSIDIARIES

MARKETABLE SECURITIES HELD

DECEMBER 30, 2020

TABLE 3

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Holding Company Name	Type and Name of Marketable Securities	Relationship with the Holding Company	Financial Statement Account	December 31, 2020	December 31, 2020	December 31, 2020	December 31, 2020	Note
				Number of Shares	Carrying Amount	Percentage of Ownership (%)	Fair Value
USI Corporation	Shares AU Optronics Corporation CTCI Corporation KHL IB Venture Capital Co., Ltd. United Microelectronics Corporation Evergreen Marine Corp. Taiwan Cement Corporation Quanta Computer Inc. Unimicron Technology Corporation G.M.I. Technology Inc. Teratech Corp. Beneficiary certificates Shin Kong Chi-Shin Money- market Fund FSITC Taiwan Money Market Fund Hua Nan Kirin Money Market Fund CTBC Hwa-win Money Market Fund Franklin Templeton Sinoam Money Market Fund Hua Nan Phoenix Money Market Fund Taishin Ta-Chong Money Market Fund	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - non- current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss-current	8,514,006 15,130,656 12,044,707 450,000 1,693,251 500,000 200,000 300,000 1,515,800 110,000 12,815,912 3,969,627 5,884,596 9,003,412 9,589,291 16,662,140 20,116,313	$ 119,196 577,991 275,452 21,217 68,915 21,600 16,180 26,220 21,752 - 200,015 61,265 71,000 100,005 100,001 273,023 288,074	0.09 1.98 11.20 - - - - - - - - - - - - - -	$ 119,496 577,991 275,452 21,217 68,915 21,600 16,180 26,220 21,752 - 200,015 61,265 71,000 100,005 100,001 273,023 288,074	Note 2

(Continued)

139 -

Holding Company Name	Type and Name of Marketable Securities	Relationship with the Holding Company	Financial Statement Account	December 31, 2020	December 31, 2020	December 31, 2020		Note
				Number of Shares	Carrying Amount	Percentage of Ownership (%)	Fair Value
Union Polymer Int'l Investment Corp. Swanlake Traders Ltd. USIFE Investment Co., Ltd.	Capital Money Market Fund Mega Diamond Money Market Fund FSITC Money Market Taishin 1699 Money Market Fund Jih Sun Money Market Fund Beneficiary certificates Cathay No. 1 Real Estate Investment Trust Fund Shares Asia Polymer Corporation China General Plastics Corporation Taita Chemical Company, Ltd. Shares SOHOware Inc. TGF Linux Communications Inc. Neurosky Inc. Preferred D Shares AU Optronics Corporation AU Optronics Corporation	`－` `－` `－` `－` `－` `－` Equity-method investee Equity-method investee Equity-method investee `－` `－` `－` `－` `－`	Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through other comprehensive income - non-current	7,379,140 19,933,652 372,668 5,497,139 16,833,145 3,290,000 21,747,535 4,256,482 395,025 1,150,000 300,000 2,397,364 1,266,061 1,266,061	$ 120,025 252,159 67,024 75,013 251,656 61,556 467,572 108,328 15,386 - - - 17,725 17,725	- - - - - - 3.74 0.77 0.12 1.05 2.14 0.70 0.01 0.01	$ 120,025 252,159 67,024 75,013 251,656 61,556 467,572 108,328 15,386 - - - 17,725 17,725	Note 2 Note 2 Note 2

(Continued)

140 -

Holding Company Name	Type and Name of Marketable Securities	Relationship with the Holding Company	Financial Statement Account		December 31, 2020	December 31, 2020		Note
				Number of Shares	Carrying Amount	Percentage of Ownership (%)	Fair Value
	Wafer Works Corporation Solargiga Energy Holdings Ltd. Dah Chung Bills Finance Corporation Swanson Plastics Corp. USI Optronics Corporation Digimax, Inc. Silicon Technology Investment (Cayman) Corp. China General Plastics Corporation Asia Polymer Corporation Taita Chemical Company, Ltd. Quanta Computer Inc. Evergreen Marine Corp. G.M.I. Technology Inc. Acme Electronics Corp. Superactive Group Company Limited Taiwan Cement Corporation	`－` `－` `－` Investor company and investee have the same chairman Investor company and investee have the same chairman `－` `－` Investor company and investee have the same chairman Investor company and investee have the same chairman Investor company and investee have the same chairman `－` `－` Investor company and investee have the same chairman `－` `－`	Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value throughprofit or loss - current	3,001,655 11,876,111 470,914 7,605,894 165,279 23,234 911,849 510,487 1,668,758 1,209,113 100,000 564,416 498,200 500,000 678,000 300,000	$ 128,471 13,086 6,880 108,992 296 - 45,693 12,992 35,878 47,095 8,090 22,972 7,149 9,450 386 12,960	0.59 0.37 0.10 4.93 0.25 0.05 1.77 0.09 0.29 0.35 - 0.01 0.40 0.27 - 0.01	$ 128,471 13,086 6,880 108,992 296 - 45,693 12,992 35,878 47,095 8,090 22,972 7,149 9,450 386 12,960

(Continued)

141 -

Holding Company Name	Type and Name of Marketable Securities	Relationship with the Holding Company	Financial Statement Account		December 31, 2020	December 31, 2020		Note
				Number of Shares	Carrying Amount	Percentage of Ownership (%)	Fair Value
Taiwan United Venture Capital Corp.	United Microelectronics Corporation Unimicron Technology Corporation Beneficiary certificates Yuanta De-Li Money Market Fund Fuh Hwa Money Market Fund Cathay Taiwan Money Market Fund Beneficiary certificates Fuh Hwa Money Market Fund Cathay Taiwan Money Market Fund Shares Innovation & Infinity Global Corp. Teratech Corp. MiTAC Holdings Corp. Chitec Technology Co., Ltd. Leadwell Cnc Machines Mfg., Corp. Digimax, Inc. Orgchem Technologies, Inc.	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss – current Financial assets at fair value through profit or loss – current Financial assets at fair value through profit or loss – non- current Financial assets at fair value through profit or loss – non- current Financial assets at fair value through other comprehensive income – current Financial assets at fair value through other comprehensive income – non-current Financial assets at fair value through other comprehensive income – non-current Financial assets at fair value through other comprehensive income – non-current Financial assets at fair value through other comprehensive income – non-current	150,000 150,000 1,870,081 3,440,659 3,451,207 3,399,556 4,391,849 720,804 90,000 2,062,000 399,091 419,753 518,898 594,594	$ 7,073 13,110 30,742 50,041 43,258 49,443 55,048 - - 60,829 9,626 15,145 - 8,610	- 0.01 - - - - - 0.73 0.58 0.17 1.37 0.68 1.18 1.09	$ 7,073 13,110 30,742 50,041 43,258 49,443 55,048 - - 60,829 9,626 15,145 - 8,610

(Continued)

142 -

Holding Company Name	Type and Name of Marketable Securities	Relationship with the Holding Company	Financial Statement Account		December 31, 2020	December 31, 2020		Note
				Number of Shares	Carrying Amount	Percentage of Ownership (%)	Fair Value
Taiwan United Venture Management Corp. Inoma Corporation USI Optronics Corporation USI Management Consulting Corporation	Hexawave, Inc. Uranus Chemicals Co., Ltd. Neuro Sky, Inc. Preferred A Neuro Sky, Inc. Preferred B Neuro Sky, Inc. Preferred C Beneficiary certificates Fuh Hwa Money Market Fund Beneficiary certificates Taishin 1699 Money Market Fund Beneficiary certificates Jih Sun Money Market Fund Taishin 1699 Money Market Fund Yuanta De-Bao Money Market Fund Beneficiary certificates Eastspring Investments Well Pool Money Market Fund Fuh Hwa Money Market Fund Fuh Hwa You Li Money Market Fund	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	Financial assets at fair value through other comprehensive income – non-current Financial assets at fair value through other comprehensive income – non-current Financial assets at fair value through other comprehensive income – non-current Financial assets at fair value through other comprehensive income – non-current Financial assets at fair value through other comprehensive income – non-current Financial assets at fair value through profit or loss – current Financial assets at fair value through profit or loss – current Financial assets at fair value through profit or loss – current Financial assets at fair value through profit or loss – current Financial assets at fair value through profit or loss – current Financial assets at fair value through profit or loss – current Financial assets at fair value through profit or loss – current Financial assets at fair value throughprofit or loss – current	109,109 13,114 10,000,000 12,595,523 4,532,823 91,730 595,654 1,016,620 1,257,350 1,412,688 511,561 1,789,315 2,799,305	$ 939 271 - - - 1,334 8,128 15,198 17,158 17,107 7,015 26,024 38,008	0.27 0.03 1.42 1.78 0.64 - - - - - - - -	$ 939 271 - - - 1,334 8,128 15,198 17,158 17,107 7,015 26,024 38,008

Note 1: All securities in the table include stocks, bonds, beneficiary certificates and items derived above which are regulat ed by IFRS 9 “Financial Instruments”. Note 2: The amount is already recognized as impairment losses.

Note 3: Please refer to Tables 7 and 8 for detailed information on subsidiaries and associates.

143 -

USI CORPORATION AND SUBSIDIARIES

(China General Plastics Corporation (CGPC))

MARKETABLE SECURITIES HELD

DECEMBER 31, 2020

TABLE 3-1

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Holding Company Name	Type and Name of Marketable Securities	Relationship with the Holding Company	Financial Statement Account		December 31,2020	December 31,2020		Note
				Number of Shares	Carrying Amount	Percentage of Ownership (%)	Fair Value
China General Plastics Corporation Taiwan VCM Corporation	Closed-end fund beneficiary certificates Cathay No. 1 Real Estate Investment Trust Open-end fund beneficiary certificates Shin Kong Chi-Shin Money-market Fund Taishin 1699 Money Market Fund Taishin Ta-Chong Money Market Fund CTBC Hwa-win Money Market Fund Shares KHL IB Venture Capital Co., Ltd. Open-end fund beneficiary certificates Taishin Ta-Chong Money Market Fund Capital Money Market Fund Taishin 1699 Money Market Fund	`－` `－` `－` `－` `－` `－` `－` `－` `－`	Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current	2,668,000 6,407,463 7,255,248 4,190,295 4,501,666 6,022,353 6,983,874 4,611,100 3,664,588	$ 49,918 100,000 99,005 60,007 50,002 137,731 100,012 75,001 50,006	- - - - - 5.95 - - -	$ 49,918 100,000 99,005 60,007 50,002 137,731 100,012 75,001 50,006	Note 1 Note 1 Note 1 Note 1 Note 1 Note 1 Note 1 Note 1 Note 1

(Continued)

144 -

Holding Company Name	Type and Name of Marketable Securities	Relationship with the Holding Company	Financial Statement Account		December 31,2020	December 31,2020		Note
				Number of Shares	Carrying Amount	Percentage of Ownership (%)	Fair Value
CGPC Polymer Corporation	FSITC Taiwan Money Market Fund FSITC Money Market Fund Jih Sun Money Market Fund Hua Nan Phoenix Money Market Fund Shares Asia Polymer Corporation Open-end fund beneficiary certificates Taishin 1699 Money Market Fund Capital Money Market Fund Taishin Ta-Chong Money Market Fund Hua Nan Phoenix Money Market Fund FSITC Taiwan Money Market Fund FSITC Money Market Fund Hua Nan Kirin Money Market Fund Shin Kong Chi-Shin Money- market Fund	`－` `－` `－` `－` The major shareholders are the same as the those of CGPC `－` `－` `－` `－` `－` `－`	Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current	3,240,147 278,042 669,954 610,344 127,691 15,393,455 11,991480 8,941,582 7,629,121 3,178,916 250,312 3,315,451 1,601,866	$ 50,007 50,006 10,016 10,001 2,746 210,058 195,041 128,047 125,009 49,062 45,018 40,002 25,000	- - - - 0.02 - - - - - - - -	$ 50,007 50,006 10,016 10,001 2,746 210,058 195,041 128,047 125,009 49,062 45,018 40,002 25,000	Note 1 Note 1 Note 1 Note 1 Note 1 Note 1 Note 1 Note 1 Note 1 Note 1 Note 1 Note 1 Note 1

(Continued)

145 -

Holding Company Name	Type and Name of Marketable Securities	Relationship with the Holding Company	Financial Statement Account		December 31,2020	December 31,2020		Note
				Number of Shares	Carrying Amount	Percentage of Ownership (%)	Fair Value
CGPC`（`BVI`）`Holding Co., Ltd.	Shares Teratech Corporation SOHOware,Inc- preference shares	`－` `－`	Financial assets at fair value through profit or loss - non- current Financial assets at fair value through profit or loss - non-current	112,000 100,000	$ - -	0.67 -	$ - -	Notes 1 and 3 Notes 1, 2 and 3

Note 1: The marketable securities were not pledged as guarantees or collateral for borrowings and not subject to restrictions . Note 2: The preference shares are not used in the calculation of shareho lding ratio and net worth. Note 3: As of December 31, 2020, CGPC evaluated the fair value of equity impairments as $0. Note 4: Please refer to Tables 7-3 and 8-3 for detailed information on subsidiaries and associates.

146 -

USI CORPORATION AND SUBSIDIARIES

(Taita Chemical Company, Ltd. (TTC))

MARKETABLE SECURITIES HELD

DECEMBER 31, 2020

TABLE 3-2

(In thousands of New Taiwan Dollars, unless stated otherwise)

Holding Company Name	Type and Name of Marketable Securities	Relationship with the Holding Company	Financial Statement Account	December 31,2020	December 31,2020	December 31,2020		Note
				Number of Shares	Carrying Amount	Percentage of Ownership (%)	Fair Value
Taita Chemical Company, Ltd. TAITA (BVI) Holding Co., Ltd.	Shares USI Corporation`－`ordinary shares Harbinger Venture Capital`－`ordinary shares Closed-end fund beneficiary certificates Cathay No. 1 Real Estate Investment Trust Fund Open-end fund beneficiary certificates Hua Nan Phoenix Money Market Fund Hua Nan Kirin Money Market Fund Capital Money Market Fund Jih Sun Money Market Fund Shares Budworth Investment Ltd.`－`ordinary shares Teratech Corporation`－`ordinary shares Sohoware Inc.`－`preference shares	Parent Company `－` `－` `－` `－` `－` `－` `－` `－` `－`	Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through profit or loss – current Financial assets at fair value through profit or loss – current Financial assets at fair value through profit or loss – current Financial assets at fair value through profit or loss – current Financial assets at fair value through profit or loss – current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through profit or loss - non- current Financial assets at fair value through profit or loss - non- current	15,109,901 990 3,250,000 5,248,671 6,962,057 5,225,881 3,022,043 20,219 112,000 100,000	$ 341,484 7 60,808 86,004 84,000 85,001 45,180 6 ( USD - thousand ) - -	1.27 0.50 - - - - - 2.22 0.73 -	$ 341,484 7 60,808 86,004 84,000 85,001 45,180 6 ( USD - thousand - -	Note 1 Note 3 Note 1 Note 2 Note 2 Note 2 Note 2 ) Note 3 Note 4 Note 4

Note 1: The fair value was based on the Taiwan Stock Exchange closing price on the last trading day of December 2020. Note 2: The fair value was calculated based on the net asset value on the last trading day of December 2020.

Note 3: TTC utilized the assets approach and took into account the most recent net asset value, observable financial status a s well as the financing activities of investees in order to determine their net asset value.

Note 4: As of December 31, 2020, TTC evaluated the fair value of equity instruments as $0. Note 5: Please refer to Tables 7-4 and 8-4 for detailed information on subsidiaries and associates.

147 -

USI CORPORATION AND SUBSIDIARIES

(Asia Polymer Corporation)

MARKETABLE SECURITIES HELD

DECEMBER 30, 2020

TABLE 3-3

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Holding Company Name	Type and Name of Marketable Securities	Relationship with the Holding Company	Financial Statement Account	December 31,2020	December 31,2020	December 31,2020		Note
				Number of Shares	Carrying Amount	Percentage of Ownership( %)	Fair Value
Asia Polymer Corporation	Ordinary Shares Harbinger Venture Capital Corp. Riselink Venture Capital KHL IB Venture Capital Co., Ltd. USI Corporation CTCI Corporation AU Optronic Corporation Wafer Works Corporation Unimicron Technology Corporation Evergreen Marine Corp. Quanta Computer Inc. United Microelectronics Corporation	`－` `－` `－` Ultimate parent company `－` `－` `－` `－` `－` `－`	Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value throughprofit or loss - current	2,377 2,632 12,044,707 101,355,673 14,446,107 9,618,516 2,017,946 300,000 1,693,251 200,000 450,000	$ 18 318 275,462 2,290,638 551,842 134,659 86,368 26,220 68,915 16,180 21,218	1.20 1.67 11.90 8.53 1.89 0.10 0.39 0.02 0.04 0.01 0.00	$ 18 318 275,462 2,290,638 551,842 134,659 86,368 26,220 68,915 16,180 21,218

(Continued)

148 -

Holding Company Name	Type and Name of Marketable Securities	Relationship with the Holding Company	Financial Statement Account	December 31,2020	December 31,2020	December 31,2020		Note
				Number of Shares	Carrying Amount	Percentage of Ownership( %)	Fair Value
APC (BVI) Holding Co., Ltd.	G.M.I. Technology Inc. Taiwan Cement Corporation Beneficiary securities Cathay No. 1 Real Estate Investment Trust Fund Beneficiary certificates Mega Diamond Money Market Fund Capital Money Market Fund Jih Sun Money Market Fund Prudential Financial Money Market Fund Taishin 1699 Money Market Fund CTBC Hwa Win Money Market Fund FSITC Money Market Fund Hua Nan Kirin Money Market Fund Shares Budworth Investment Ltd. – ordinary shares Silicon Technology Investment (Cayman) Corp. – preference shares NeuroSky, Inc. – series D preference shares Solargiga Energy Holdings Ltd.	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current	1,515,800 500,000 3,281,000 5,887,835 2,152,072 16,818,904 3,137,157 12,021,036 5,672,048 3,564,088 6,381,916 40,467 1,139,776 2,397,364 15,863,333	$ 21,752 21,600 61,388 74,481 35,004 251,443 50,053 164,038 63,002 55,006 77,000 10 57,117 - 17,480	1.21 0.01 - - - - - - - - - 4.45 2.19 0.37 0.49	$ 21,752 21,600 61,388 74,481 35,004 251,443 50,053 164,038 63,002 55,006 77,000 10 57,117 - 17,480	Note 1 Note 1

(Continued)

149 -

Holding Company Name	Type and Name of Marketable Securities	Relationship with the Holding Company	Financial Statement Account	December 31,2020	December 31,2020	December 31,2020		Note
				Number of Shares	Carrying Amount	Percentage of Ownership( %)	Fair Value
APC Investment Corporation	Teratech Corp. – ordinary shares TGF Linux Communication, Inc. – preference shares Sohoware, Inc. – preference shares Boldworks, Inc. – preference shares Ordinary Shares USI Corporation Taiwan Cement Corporation United Microelectronics Corporation Evergreen Marine Corp. Quanta Computer Inc. Unimicron Technology Corporation G.M.I. Technology Inc. Beneficiary securities Cathay Taiwan Money Market Fund	`－` `－` `－` `－` Ultimate parent company `－` `－` `－` `－` `－` `－` `－`	Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through profit or loss - non- current Financial assets at fair value through profit or loss - non- current Financial assets at fair value through profit or loss - non- current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current	112,000 300,000 450,000 689,266 44,808 300,000 150,000 564,416 100,000 150,000 492,900 499,525	$ - - - - 1,013 12,960 7,072 22,972 8,090 13,110 7,073 6,261	0.67 - - - - 0.01 - 0.01 - 0.01 0.39 -	$ - - - - 1,013 12,960 7,072 22,972 8,090 13,110 7,073 6,261	Note 1 Note 1 Note 1 Note 1

Note 1: Due to the investment losses recognized over the past years, APC evaluated the fair value of long-term equity instruments as 0. Note 2: Please refer to Tables 7-5 and 8-5 for detailed information on subsidiaries and associates.

150 -

USI CORPORATION AND SUBSIDIARIES

(China General Terminal & Distribution Co.)

MARKETABLE SECURITIES HELD

DECEMBER 31, 2020

TABLE 3-4

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Holding Company Name	Type and Name of Marketable Securities	Relationship with the Holding Company	Financial Statement Account		December 31,2020	December 31,2020	December 31,2020	Note
				Number of Shares	Carrying Amount	Percentage of Ownership (%)	Fair Value
China General Terminal & Distribution Co.	Shares Asia Polymer Corporation China General Plastics Corporation Taita Chemical Company, Ltd. China Steel Corporation	Equity-method investee Equity-method investee Equity-method investee `－`	Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through other comprehensive income - non-current Financial assets at fair value through profit or loss - current	5,186,748 2,800,751 1,972,483 499,552	$ 111,515 71,279 76,828 12,363	0.89 0.51 0.57 -	$ 111,515 71,279 76,828 12,363	Note 1 Note 1 Note 1 Note 2

Note 1: No guarantees, pledged loans, or other restrictions on the use of t he contract were provided. Note 2: 257,000 shares were provided to Taiwan Water Corporation as a provisional attachment.

151 -

USI CORPORATION AND SUBSIDIARIES

MARKETABLE SECURITIES ACQUIRED OR DISPOSED OF AT COSTS OR PRICES OF AT LEAST NT$300 MILLION OR 20% O F THE PAID-IN CAPITAL YEAR 2020

TABLE 4

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Company Name	Type and Name of Marketable Securities	Financial Statement Account	Counterparty	Relationship	Beginning Balance (Notes 1 and 2)	Beginning Balance (Notes 1 and 2)	Acquisition	Acquisition	Disposal	Disposal	Disposal	Disposal	Ending Balance ( N o t e s 1 a n d 2 )	Ending Balance ( N o t e s 1 a n d 2 )
					Number of Shares	Amount	Number of Shares	Amount	Number of Shares	Amount	Carrying Amount	Gain on Disposal	Number of Shares	Amount
USI Corporation	Beneficiary certificates CTBC Hwa-win Money Market Fund Yuanta De-Li Money Market Fund Taishin 1699 Money Market Fund Taishin Ta-Chong Money Market Fund TCB Taiwan Money Market Fund FSITC Money Market Fund Hua Nan Phoenix Money Market Fund Shin Kong Chi- Shin Money- market Fund FSITC Taiwan Money Market Fund UPAMC James Bond Money Market Fund Fubon Chi-Hsiang Money Market Fund Hua Nan Kirin Money Market Fund Yuanta De- Bao Money Market Fund Capital Money Market Fund Nomura Taiwan Money Market Fund	Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss-current	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	7,870,520 8,415,458 18,384,950 3,848,863 - 275,921 4,566,633 - 12,866,132 2,995,555 - - 6,094,719 2,920,509 3,872,087	$ 86,900 137,000 249,200 54,800 - 49,400 74,500 - 196,700 50,000 - - 73,500 47,100 63,400	51,398,608 12,679,431 38,525,061 29,433,161 31,420,702 1,889,131 38,675,263 29,624,420 7,990,124 9,221,878 6,343,790 22,821,010 18,033,728 8,609,644 9,931,718	$ 570,000 208,000 525,000 421,000 321,000 339,000 633,000 462,000 123,000 155,000 100,000 275,000 218,000 140,000 163,000	50,265,716 21,094,889 51,412,872 13,165,711 31,420,702 1,792,384 26,579,756 16,808,508 16,886,629 12,217,433 6,343,790 16,936,414 24,128,447 4,151,013 13,803,805	$ 557,421 346,026 700,745 188,013 321,129 321,858 434,696 262,069 260,020 205,362 100,025 204,061 291,631 67,444 226,507	$ 556,900 345,000 699,200 187,800 321,000 321,400 434,500 262,000 258,700 205,000 100,000 204,000 291,500 67,100 226,400	$ 521 1,026 1,545 213 129 458 196 69 3,320 362 25 61 131 344 107	9,003,412 - 5,497,139 20,116,313 - 372,668 16,662,140 12,815,912 3,969,627 - - 5,884,596 - 7,379,140 -	$ 100,000 - 75,000 288,000 - 67,000 273,000 200,000 61,000 - - 71,000 - 120,000 -

(Continued)

152 -

Company Name	Type and Name of Marketable Securities	Financial Statement Account	Counterparty	Relationship	Beginning Balance (Notes1and2)	Beginning Balance (Notes1and2)	Acquisition	Acquisition	Disposal	Disposal	Disposal	Disposal	Ending Balance ( N o t e s 1 a n d 2 )	Ending Balance ( N o t e s 1 a n d 2 )
					Number of Shares	Amount	Number of Shares	Amount	Number of Shares	Amount	Carrying Amount	Gain on Disposal	Number of Shares	Amount
Ever Conquest Global Limited Ever Victory Global Limited Dynamic Ever Investments Limited USI Investment Co., Ltd. USI Investment Co., Ltd. Taiwan United Venture Capital Corp. INOMA Corporation. Usi Optronics Corporation	Cathay Taiwan Money Market Fund Shares Ever Victory Global Limited Shares Dynamic Ever Investments Limited Shares Fujian Gulei Petrochemical Co., Ltd. Beneficiary securities Yuanta De-Li Money Market Fund Beneficiary securities Cathay Taiwan Money Market Fund Beneficiary securities Cathay Taiwan Money Market Fund Beneficiary securities Taishin 1699 Money Market Fund Beneficiary securities Yuanta De-Li Money Market Fund Taishin 1699 Money Market Fund Taishin Ta-Chong Money Market Fund Jih Sun Money Market Fund	Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	`－` Subsidiary Subsidiary Joint Venture `－` `－` `－` `－` `－` `－` `－` `－`	- 390,830,000 488,286,000 Note 3 1,870,081 5,151,207 - 908,375 1,412,688 1,703,082 496,715 1,016,620	$ - 11,563,685 14,432,823 14,867,168 30,284 63,044 - 12,200 17,000 23,000 7,000 15,000	7,832,129 26,315,000 100,564,000 Note 3 - - 4,391,849 - - 367,847 - -	$ 98,000 783,964 3,024,349 5,122,441 - - 55,000 - - 5,000 - --	7,832,129 - - - - 1,700,000 - 312,721 - 813,579 496,715 -	$ 98,020 - - - - 21,300 - 4,257 - 11,086 7,089 -	$ 98,000 - - - - 20,806 - 4,200 - 11,000 7,000 -	$ 20 - - - - 494 - 57 - 86 89 -	- 417,145,000 588,850,000 Note 3 1,870,081 3,451,207 4,391,849 595,654 1,412,688 1,257,350 - 1,016,620	$ - 12,398,596 17,523,490 20,170,030 30,284 42,238 55,000 8,000 17,000 17,000 - 15,000

Note 1: The book cost includes the original investment amount, shares of profit (loss) by equity method, e xchange rate conversion and adjustments to net changes. Note 2: The amount as of December 31, 2020 was calculated at the original investment cost. Note 3: Limited company, hence zero shares.

153 -

USI CORPORATION AND SUBSIDIARIES

(China General Plastics Corporation (CGPC))

MARKETABLE SECURITIES ACQUIRED OR DISPOSED OF AT COSTS OR PRICES OF AT LEAST NT$300 MILLION OR 20% OF THE PAID -IN CAPITAL YEAR 2020

TABLE 4-1

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Company Name	Type and Name of Marketable Securities	Financial Statement Account	Counterparty	Relationship	Beginning Balance (Note)	Beginning Balance (Note)	Acquisition	Acquisition	Disposal	Disposal	Disposal	Disposal	Ending Balance (Note)	Ending Balance (Note)
					Number of Shares	Amount	Number of Shares	Amount	Number of Shares	Amount	Carrying Amount	Gain on Disposal	Number of Shares	Amount
China General Plastics Corporation Taiwan VCM Corporation - -	Beneficiary certificates Jih Sun Money Market Fund Taishin 1699 Money Market Fund Mega Diamond Money Market Fund Taishin Ta-Chong Money Market Fund UPAMC James Bond Money Market Fund Hua Nan Kirin Money Market Fund Hua Nan Phoenix Money Market Fund FSITC Money Market Shin Kong Chi-Shin Money-market Fund Capital Money Market Fund CTBC Hwa-win Money Market Fund Nomura Taiwan Money Market Fund FSITC Taiwan Money Market Fund TCB Taiwan Money Market Fund Beneficiary certificates Taishin 1699 Money Market Fund FSITC Taiwan Money Market Fund Taishin Ta-Chong Money Market Fund Hua Nan Phoenix Money Market Fund Hua Nan Kirin Money Market Fund FSITC Money Market Fund	Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	6,722,102 - - 2,244,236 596,011 - - - - - - - 325,457 - - - - - - -	$ 100,000 - - 32,000 10,000 - - - - - - - 5,000 - - - - - - -	18,056,905 72,435,348 9,273,954 16,789,314 2,383,990 10,286,081 4,885,483 278,987 18,728,035 11,829,033 16,773,242 10,843,168 7,729,823 10,848,473 32,094,334 26,931,036 27,828,581 19,927,441 26,573,708 1,560,974	$ 269,000 987,000 117,000 240,000 40,000 124,000 80,000 50,000 292,000 192,000 186,000 178,000 119,000 111,000 437,000 415,000 398,000 326,000 320,000 280,000	24,779,007 65,180,100 9,273,954 14,843,255 2,980,001 10,286,081 4,885,483 278,987 12,320,572 11,829,033 12,271,576 10,843,168 8,055,280 10,848,473 28,429,746 23,690,889 20,844,707 19,317,097 26,573,708 1,282,933	$ 369,113 888,173 117,020 212,051 50,009 124,021 80,010 50,006 192,066 192,033 136,053 178,041 124,050 111,013 387,319 365,200 298,168 316,119 320,136 230,074	$ 369,000 888,000 117,000 212,000 50,000 124,000 80,000 50,000 192,000 192,000 136,000 178,000 124,000 111,000 387,000 365,000 298,000 316,000 320,000 230,000	$ 113 173 20 51 9 21 10 6 66 33 53 41 50 13 319 200 168 119 136 74	- 7,255,248 - 4,190,295 - - - - 6,407,463 - 4,501,666 - - - 3,664,588 3,240,147 6,983,874 610,344 - 278,042	$ - 99,000 - 60,000 - - - - 100,000 - 50,000 - - - 50,000 50,000 100,000 10,000 - 50,000

154 -

Company Name	Type and Name of Marketable Securities	Financial Statement Account	Counterparty	Relationship	Beginning Balance (Note)	Beginning Balance (Note)	Acquisition	Acquisition	Disposal	Disposal	Disposal	Disposal	Ending Balance (Note)	Ending Balance (Note)
					Number of Shares	Amount	Number of Shares	Amount	Number of Shares	Amount	Carrying Amount	Gain on Disposal	Number of Shares	Amount
CGPC Polymer Corporation	UPAMC James Bond Money Market Fund Fubon Chi-Hsiang Money Market Fund Yuanta De- Bao Money Market Fund Shin Kong Chi-Shin Money-market Fund Capital Money Market Fund Jih Sun Money Market Fund CTBC Hwa-win Money Market Fund Nomura Taiwan Money Market Fund Cathay Taiwan Money Market Fund TCB Taiwan Money Market Fund Beneficiary certificates Jih Sun Money Market Fund Taishin 1699 Money Market Fund Capital Money Market Fund Hua Nan Phoenix Money Market Fund FSITC Money Market Fund FSITC Taiwan Money Market Fund Taishin Ta-Chong Money Market Fund Hua Nan Kirin Money Market Fund Shin Kong Chi-Shin Money-market Fund TCB Taiwan Money Market Fund Yuanta De- Bao Money Market Fund Nomura Taiwan Money Market Fund Cathay Taiwan Money Market Fund	Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	- - - - - 2,016,929 - - - - 12,751,358 8,813,848 2,574,758 - - - - - - - - - -	$ - - - - - 30,000 - - - - 189,601 119,700 41,700 - - - - - - - - - -	15,475,207 6,343,952 14,073,199 9,638,125 16,145,295 11,670,597 14,443,387 12,199,143 13,435,168 7,829,800 24,108,007 52,289,292 21,415,980 27,420,678 1,280,996 8,640,705 16,844,629 18,253,262 7,696,874 16,714,814 7,023,148 3,042,769 1,595,965	$ 260,000 100,000 170,000 150,000 262,000 174,000 160,000 200,000 168,000 80,000 359,000 712,400 348,000 449,000 230,000 133,000 241,000 220,000 120,000 171,000 85,000 50,000 20,000	15,475,207 6,343,952 14,073,199 9,638,125 11,534,195 13,017,572 14,443,387 12,199,143 13,435,168 7,829,800 36,859,365 45,709,685 11,999,558 19,791,557 1,030,684 5,461,789 7,903,047 14,937,812 6,095,008 16,714,814 7,023,148 3,042,769 1,595,965	$ 260,056 100,011 170,063 150,037 187,094 194,155 160,142 200,106 168,033 80,012 548,936 622,428 194,753 324,050 185,073 84,016 113,022 180,049 95,032 171,016 85,007 50,003 20,002	$ 260,000 100,000 170,000 150,000 187,000 194,000 160,000 200,000 168,000 80,000 548,601 622,100 194,700 324,000 185,000 84,000 113,000 180,000 95,000 171,000 85,000 50,000 20,000	$ 56 11 63 37 94 155 142 106 33 12 335 328 53 50 73 16 22 49 32 16 7 3 2	- - - - 4,611,100 669,954 - - - - - 15,393,455 11,991,180 7,629,121 250,312 3,178,916 8,941,582 3,315,451 1,601,866 - - - -	$ - - - - 75,000 10,000 - - - - - 210,000 195,000 125,000 45,000 49,000 128,000 40,000 25,000 - - - -

Note: The beginning and ending bala nces were calc ula ted at the original investment cost.

155 -

USI CORPORATION AND SUBSIDIARIES

(Taita Chemical Company, Ltd.)

MARKETABLE SECURITIES ACQUIRED OR DISPOSED OF AT COSTS OR PRICES OF AT LEAST NT$300 MILLION OR 20% OF THE PAID -IN CAPITAL

YEAR 2020

TABLE 4-2

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Company Name	Type and Name of Marketable Securities	Financial Statement Account	Counterparty	Relationship	BeginningBalance	BeginningBalance	Acquisition(Note)	Acquisition(Note)	Disposal	Disposal	Disposal	Disposal	EndingBalance(Note)	EndingBalance(Note)
					Number of Shares	Amount	Number of Shares	Amount	Number of Shares	Amount	Carrying Amount	Gain on Disposal	Number of Shares	Amount
Taita Chemical Company, Ltd.	Beneficiary certificates Hua Nan Phoenix Money Market Fund Taishin 1699 Money Market Fund Mega Diamond Money Market Fund FSITC Money Market Fund FSITC Taiwan Money Market Fund UPAMC James Bond Money Market Fund Fubon Chi-Hsiang Money Market Fund Hua Nan Kirin Money Market Fund Yuanta De- Bao Money Market Fund Shin Kong Chi-Shin Money-market Fund Capital Money Market Fund Jih Sun Money Market Fund Taishin Ta-Chong Money Market Fund CTBC Hwa-win Money Market Fund Nomura Taiwan Money Market Fund TCB Taiwan Money Market Fund	Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	- - - - - - - - - - - 806,582 - - - -	$ - - - - - - - - - - - 12,000 - - - -	20,953,805 61,795,582 7,925,720 1,504,258 6,808,008 2,972,705 2,850,988 15,427,285 7,026,655 8,339,551 8,307,982 6,715,624 11,883,074 21,632,429 8,220,442 8,899,811	$ 343,000 842,000 100,000 270,000 105,000 50,000 45,000 186,000 85,000 130,000 135,000 100,000 170,000 240,000 135,000 91,000	15,705,134 61,795,582 7,925,720 1,504,258 6,808,008 2,972,705 2,850,988 8,465,228 7,026,655 8,339,551 3,082,101 4,500,162 11,883,074 21,632,429 8,220,442 8,899,811	$ 257,143 842,342 100,245 270,105 105,056 50,005 45,007 102,039 85,012 130,053 50,047 67,217 170,042 240,146 135,030 91,011	$ 257,000 842,000 100,000 270,000 105,000 50,000 45,000 102,000 85,000 130,000 50,000 67,000 170,000 240,000 135,000 91,000	$ 143 342 245 105 56 5 7 39 12 53 47 217 42 146 30 11	5,248,671 - - - - - - 6,962,057 - - 5,225,881 3,022,043 - - - -	$ 86,000 - - - - - - 84,000 - - 85,000 45,000 - - - -

Note: The ending balance of beneficiary certificates was based on the original investment amount.

156 -

USI CORPORATION AND SUBSIDIARIES

(Asia Polymer Corporation)

MARKETABLE SECURITIES ACQUIRED OR DISPOSED OF AT COSTS OR PRICES OF AT LEAST NT$300 MILLION OR 20% OF THE PAID -IN CAPITAL YEAR 2020

TABLE 4-3

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Company Name	Type and Name of Marketable Securities	Financial Statement Account	Counterparty	Relationship	BeginningBalance	BeginningBalance	Acquisition	Acquisition	Disposal	Disposal	Disposal	Disposal	EndingBalance(Note)	EndingBalance(Note)
					Number of Shares	Amount	Number of Shares	Amount	Number of Shares	Amount	Carrying Amount	Gain on Disposal	Number of Shares	Amount
Asia Polymer Corporation	Shares Ever Conquest Global Limited. Funds Taishin 1699 Money Market Fund Taishin Ta-Chong Money Market Fund CTBC Hwa-win Money Market Fund FSITC Money Market Fund FSITC Taiwan Money Market Fund Mega Diamond Money Market Fund Capital Money Market Fund Jih Sun Money Market Fund Nomura Taiwan Money Market Fund UPAMC James Bond Money Market Fund Yuanta De-Li Money Market Fund Yuanta De- Bao Money Market Fund Fubon Chi-Hsiang Money Market Fund Hua Nan Kirin Money Market Fund Hua Nan Phoenix Money Market Fund Shin Kong Chi-Shin Money-market Fund TCB Taiwan Money Market Fund	Investment accounted for using the equity method Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss-current	`－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	Equity method investee `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－` `－`	144,160,000 18,356,835 3,832,822 14,112,664 957,942 12,624,735 19,951,815 3,093,667 16,818,904 3,056,580 2,986,943 3,921,720 6,239,913 8,705,147 4,414,970 5,276,352 3,930,774 -	$ 4,265,335 248,000 54,400 155,000 171,000 193,000 250,000 50,000 249,600 50,000 50,000 64,000 75,000 137,000 53,000 86,000 61,000 -	26,315,000 35,947,285 21,475,665 32,094,158 2,239,281 12,026,785 7,924,414 9,044,482 - 3,716,127 8,913,027 5,189,280 3,425,937 - 17,750,181 9,042,836 14,630,985 29,161,197	$ 783,964 490,000 307,000 356,000 402,000 185,300 100,000 147,000 - 61,000 150,000 85,000 41,400 - 214,000 148,000 228,000 298,000	- 42,283,084 25,308,487 40,534,774 3,197,223 21,087,432 21,988,394 9,986,078 - 6,772,707 11,899,970 9,111,000 9,665,850 8,705,147 15,783,235 14,319,188 18,561,759 29,161,197	$ - 576,189 361,769 449,485 573,842 324,749 277,440 162,254 - 111,171 200,216 149,316 116,762 137,201 190,190 234,249 289,238 298,085	$ - 574,000 361,400 448,000 573,000 323,300 275,700 162,000 - 111,000 200,000 149,000 116,400 137,000 190,000 234,000 289,000 298,000	$ - 2,189 369 1,485 842 1,449 1,739 254 - 171 216 316 362 201 190 249 238 85	170,475,000 12,021,036 - 5,672,048 - 3,564,088 5,887,835 2,152,072 16,818,904 - - - - - 6,381,916 - - -	$ 5,066,945 164,000 - 63,000 - 55,000 74,300 35,000 249,600 - - - - - 77,000 - - -

Note 1: The carrying amount includes the original investment amount, the inves tment profit (loss) recognized using equity method, foreign exchange conversion, and adjustments to changes in net value. Note 2: The beginning and ending balances were calculated at the original investment cost.

157 -

USI CORPORATION AND SUBSIDIARIES

TOTAL PURCHASES FROM OR SALES TO RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID -IN CAPITAL YEAR 2020

TABLE 5

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Buyer/Seller	Related Party	Relationship		Transaction Details	Transaction Details	Transaction Details	Abnormal Transaction	Abnormal Transaction	Notes/Accounts Receivable(Payable)	Notes/Accounts Receivable(Payable)	Note
			Purchase/ Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Ending Balance	% of Total
USI Corporation USI (Hong Kong) Company Limited USI Trading `（`Shanghai `）` Co.,Ltd.	Asia Polymer Corporation USI (Hong Kong) Company Limited USI Trading `（`Shanghai`）`Co., Ltd. USI Corporation USI Corporation	Subsidiary Subsidiary Subsidiary Parent Company Parent Company	Purchase Sale Sale Purchase Purchase	$ 662,705 ( 119,902) ( 118,766) 109,902 118,766	9.91 ( 1.18) ( 1.17) 1.79 1.78	Within 60 days after purchasing on credit Within 60 days after purchasing on credit Within 60 days after purchasing on credit Within 60 days after purchasing on credit Within 60 days after purchasing on credit	No significant difference No significant difference No significant difference No significant difference No significant difference	No significant difference No significant difference No significant difference No significant difference No significant difference	($ 185,681) 24,644 33,203 ( 24,644) ( 33,203)	( 20.62) 1.62 2.18 ( 2.74) ( 3.69)

Note: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

158 -

USI CORPORATION AND SUBSIDIARIES

(Acme Electronics Corp. (ACME))

TOTAL PURCHASES FROM OR SALES TO RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID -IN CAPITAL

YEAR 2020

TABLE 5-1

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Buyer/Seller	Related Party	Relationship		Transaction Details	Transaction Details	Transaction Details	Abnormal Transaction (Note 1)	Abnormal Transaction (Note 1)	Notes/Accounts Receivable (Payable)	Notes/Accounts Receivable (Payable)	Note
			Purchase/ Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Financial Statement Account and EndingBalance	% of Total
Acme Electronics Corp. Acme Electronics (Guang-Zhou) Co., Ltd. Acme Electronics Corp. Acme Electronics (Guang-Zhou) Co., Ltd. Acme Electronics Corp. Acme Electronics (Kunshan) Co., Ltd.	Acme Electronics (Guang-Zhou) Co., Ltd. Acme Electronics Corp. Acme Electronics (Guang-Zhou) Co., Ltd. Acme Electronics Corp. Acme Electronics (Kunshan) Co., Ltd. Acme Electronics Corp.	Subsidiary of GAEL Subsidiary of GAEL Subsidiary of GAEL Subsidiary of GAEL Subsidiary of ACME(Cayman) Subsidiary of ACME(Cayman)	Purchase (including processing fee) Sale (including processing fee) Sale Purchase Sale Purchase	$ 364,193 ( 364,193) ( 100,974) 100,974 ( 144,522) 144,522	51 ( 39) ( 10) 64 ( 14) 54	55 days 55 days 55 days 55 days 55 days 55 days	No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference	No significant difference No significant difference No significant Difference No significant Difference No significant Difference No significant difference	($ 132,306) 132,306 13,769 ( 13,769) 31,073 ( 31,073)	( 70) 45 6 ( 45) 14 ( 68)

Note: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

159 -

USI CORPORATION AND SUBSIDIARIES

(Swanson Plastics Corporation (SPC))

TOTAL PURCHASES FROM OR SALES TO RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID -IN CAPITAL

YEAR 2020

TABLE 5-2

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Buyer/Seller	Related Party	Relationship		Transaction Details	Transaction Details	Transaction Details	Abnormal Transaction	Abnormal Transaction	Notes/Accounts Receivable(Payable)	Notes/Accounts Receivable(Payable)	Note
			Purchase/ Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Financial Statement Account and EndingBalance	% of Total
Swanson Plastics (Singapore) Pte. Ltd. Swanson Plastics (Kunshan) Co., Ltd. Swanson Plastics (Kunshan) Co., Ltd. Swanson Plastics (Malaysia) Sdn. Bhd. ASK-Swanson (Kunshan) Co., Ltd. PT.Swanson Plastics Indonesia	Swanson Plastics (Malaysia) Sdn. Bhd. Swanson Plastics (Kunshan) Co., Ltd. Swanson Plastics (Malaysia) Sdn. Bhd. Swanson Plastics (Malaysia) Sdn. Bhd. PT.Swanson Plastics Indonesia Forever Young Company Limited ASK-Swanson (Kunshan) Co., Ltd. Forever Young Company Limited Forever Young Company Limited Swanson Plastics (Singapore) Pte. Ltd. Swanson Plastics (Kunshan) Co., Ltd. Forever Young Company Limited	Subsidiary Have the same ultimate parent company Have the same ultimate parent company Have the same ultimate parent company Have the same ultimate parent company Have the same ultimate parent company Have the same ultimate parent company Have the same ultimate parent company Have the same ultimate parent company Parent company Have the same ultimate parent company Have the same ultimate parent company	Purchase Sale Purchase Sale Sale Purchase Sale Sale Purchase Sale Purchase Purchase	$ 201,859 ( 349,564) 142,768 ( 332,832) ( 117,680) 349,564 ( 141,235) ( 142,768) 332,832 ( 201,859) 141,235 117,680	79 ( 35) 15 ( 34) ( 12) 38 ( 12) ( 15) 43 ( 21) 58 37	90 days 90 days 90 days 90 days 90 days 90 days 60 days 90 days 90 days 90 days 60 days 90 days	No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference	No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference	Accounts payable to related parties ( $ 26,575 ) Accounts receivable from related parties 75,742 Accounts payable to related parties ( 13,091) Accounts receivable from related parties 31,722 Accounts receivable from related parties 12,057 Accounts payable to related parties ( 75,742 ) Accounts receivable from related parties 17,978 Accounts payable to related parties 13,091 Accounts payable to related parties ( 31,722 ) Accounts receivable from related parties 26,575 Accounts receivable from related parties ( 17,978 ) Accounts payable to related parties ( 12,057 )	( 82) 56 ( 8) 23 9 ( 57) 7 8 ( 56) 16 ( 48) ( 35)

Note: All the transactions were fully eliminated upon preparation of the consolidated fina ncial statements.

160 -

USI CORPORATION AND SUBSIDIARIES

(China General Plastics Corporation (CGPC))

TOTAL PURCHASES FROM OR SALES TO RELATED PARTIES AMOUNTING TO AT LEAST $100 MILLION OR 20% OF THE PAID -IN CAPITAL YEAR 2020

TABLE 5-3

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Buyer/Seller	Related Party	Relationship		Transaction Details	Transaction Details	Transaction Details	Abnormal Transaction	Abnormal Transaction	Notes/Accounts Receivable(Payable)	Notes/Accounts Receivable(Payable)	Note
			Purchase/ Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Financial Statement Account and EndingBalance	% of Total
China General Plastics Corporation Taiwan VCM Corporation CGPC Polymer Corporation CGPC America Corporation	Taiwan VCM Corporation CGPC America Corporation China General Plastics Corporation CGPC Polymer Corporation Taiwan VCM Corporation China General Plastics Corporation	Subsidiary Subsidiary Parent company Fellow subsidiary Fellow subsidiary Parent company	Purchase Sale Sale Sale Purchase Purchase	$ 4,290,414 ( 389,006) ( 4,290,414) ( 3,869,633) 3,869,633 389,006	74 ( 5) ( 51) ( 46) 96 85	45 days 90 days 45 days 75 days 75 days 90 days	No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference	No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference	Accounts payable to related parties ( $ 1,069,615 ) Accounts receivable from related parties 110,613 Accounts receivable from related parties 1,069,615 Accounts receivable from related parties 1,437,900 Accounts payable to related parties ( 1,437,900 ) Accounts payable to related parties ( 110,613 )	( 79) 8 42 57 ( 98) ( 97)

Note: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

161 -

USI CORPORATION AND SUBSIDIARIES

(Taita Chemical Company, Ltd.)

TOTAL PURCHASES FROM OR SALES TO RELATED PARTIES AMOUNTING TO AT LEAST $100 MILLION OR 20% OF THE PAID-IN CAPITAL

YEAR 2020

TABLE 5-4

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Buyer/Seller	Related Party	Relationship		Transaction	Details		Abnormal Transaction	Abnormal Transaction	Notes/Accounts Receivable(Payable)	Notes/Accounts Receivable(Payable)	Note
			Purchase/ Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Financial Statement Account and EndingBalance	% of Total
Taita Chemical Company, Ltd.	Taita Chemical (Zhongshan) Co., Ltd.	Sub-subsidiary	Sale	( $ 736,735 ) ( USD 25,071 thousand )	( 6.70 )	30 days	No significant difference	No significant difference	Accounts receivable from related parties $ 2,818 (USD 99 thousand )	0.19

Note: All the transactions were fully eliminated upon preparation of the consolidated financial stateme nts.

162 -

USI CORPORATION AND SUBSIDIARIES

(Asia Polymer Corporation)

TOTAL PURCHASES FROM OR SALES TO RELATED PARTIES AMOUNTING TO AT LEAST $100 MILLION OR 20% OF THE PAID -IN CAPITAL

YEAR 2020

TABLE 5-5

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Buyer/Seller	Related Party	R e l at i o ns h i p		Transaction Details	Transaction Details	Transaction Details	Abnormal Transaction	Abnormal Transaction	Notes/Accounts Receivable(Payable)	Notes/Accounts Receivable(Payable)	N o t e
			Purchase/ Sale	Amount	% of Total	Payment Terms	Unit Price	Payment Terms	Financial Statement Account and EndingBalance	% of Total
Asia Polymer Corporation USI Trading (Shanghai) Co., Ltd.	USI Corporation USI Corporation	Ultimate parent company Ultimate parent company	SALES Purchase	($ 662,692) 119,428	( 11.62) 3.84	60 days 30 days	No significant difference No significant difference	No significant difference No significant difference	Accounts receivable from related parties $ 189,988 Accounts receivable from related parties ( 33,203)	25.58 ( 11.54)

Note: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

163 -

USI CORPORATION AND SUBSIDIARIES

RECEIVABLES FROM RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID -IN CAPITAL

DECEMBER 31, 2020

TABLE 6

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Company Name	Related Party	Relationship	Ending Balance (Note 3)	Turno ver Rate (%)	Overdue	Overdue	Amounts Received in Subsequent Period(Note 2)	Allowance for Impairment Loss
					Amount	Actions Taken
USI Corporation	Taiwan VCM Corporation Asia Polymer Corporation USI (Hong Kong) CompanyLimited	Subsidiary of the Company Subsidiary of the Company Subsidiary of the Company	Other receivables - related parties $ 96,071 Other receivables - related parties 58,712 Other receivables - related parties 51,190	- - -	$ - - -	`－` `－` `－`	$ 96,071 58,712 51,190	Note 1 Note 1 Note 1

Note 1: It is assessed that no allowance for impairment loss is needed.

Note 2: The subsequent period refers to the period from January 1,2021 to March 8, 2021.

Note 3: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

164 -

USI CORPORATION AND SUBSIDIARIES

(Acme Electronics Corporation)

RECEIVABLES FROM RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION O R 20% OF THE PAID-IN CAPITAL

DECEMBER 31, 2020

TABLE 6-1

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Company Name	Related Party	Relationship	E n d i n g B a l a n c e ( N o t e 2 )	Turnover R at e ( % )	O v e	r d u e	Amounts Received in Subsequent Period	Allowance for Impairment Loss
					Amount	Actions Taken
Acme Electronics Corporation Acme Electronics (Guang-Zhou) Co., Ltd.	ACME Electronics (Cayman) Corp Acme Electronics Corporation	Subsidiary of ACME Subsidiary of GAEL	Other receivables - related parties $ 204,223 Receivables - related parties 132,306	- 2.94	$ - -	`－` `－`	$ 60,054 -	Note 1 Note 1

Note 1: It is assessed that no allowance for impairment loss is needed.

Note 2: All the transactions were fully eliminated upon preparat ion of the consolidated financial statements.

165 -

USI CORPORATION AND SUBSIDIARIES

(Swanson Plastics Corporation (SWANSON))

RECEIVABLES FROM RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID -IN CAPITAL DECEMBER 31, 2020

TABLE 6-2

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Company Name	Related Party	Relationship	Ending Balance (Note 3)	T u r n o ve r R a t e ( % )	O v e r d u e	O v e r d u e	Amounts Received in Subsequent Period(Note 2)	Allowance for Impairment Loss
					Amount	Actions Taken
ASK-Swanson (Kunshan) Co., Ltd.	Swanson Plastics (Tianjin) Co., Ltd.	Fellow subsidiary	Other receivables - related parties $183,995 (RMB 42,154 thousand )	-	$ -	`－`	$ -	Note 1

Note 1: It is assessed that no allowance for impairment loss is needed.

Note 2: The subsequent period refers to the period from January 1, 2021 to March 4, 2021.

Note 3: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

166 -

USI CORPORATION AND SUBSIDIARIES

(China General Plastics Corporation)

RECEIVABLES FROM RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID -IN CAPITAL

DECEMBER 31, 2020

TABLE 6-3

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Company Name	Related Party	Relationship	Ending Balance (Note 3)	Turnover Rate (%)	O v e	r d u e	Amounts Received in Subsequent Period(Note 2)	Allowance for Impairment Loss
					Amount	Actions Taken
China General Plastics Corporation Taiwan VCM Corporation	CGPC America Corporation China General Plastics Corporation CGPC Polymer Corporation	subsidiary Parent company Fellow	Accounts receivable from related parties $ 110,613 Accounts receivable from related parties $ 1,069,615 Accounts receivable from related parties $ 1,437,900	3.55 4.43 3.55	$ - - -	`－` `－` `－`	$ 36,022 1,069,615 920,851	Note 1 Note 1 Note 1

Note 1: It is assessed that no allowance for impairment loss is needed.

Note 2: The subsequent period refers to the period from January 1, 2021 to February 17, 2021.

Note 3: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

167 -

USI CORPORATION AND SUBSIDIARIES

(Taita Chemical Company, Ltd.)

RECEIVABLES FROM RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID -IN CAPITAL

DECEMBER 31, 2020

TABLE 6-4

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Company Name	Related Party	Relationship	Financial Statement Account and Ending Balance (Note 3)	Turnover Rate (%)	O v e r d u e	O v e r d u e	Amounts Received in Subsequent Period(Note 2)	Allowance for Impairment Loss
					Amount	Actions Taken
Taita Chemical Company, Ltd.	Taita Chemical (Tianjin) Co., Ltd.	Sub-subsidiary	Other receivables $ 263,413 ( USD 9,249 thousand ) `（`Note 1`）`	-	$ 263,413	Continuous collection	$ -	$ -

Note 1: The other receivables of Taita Chemical Co., Ltd. is from selling raw materials to Taita Chemical (Tianjin) Co., Ltd., transferred to o ther receivables since it had exceeded the normal credit period.

Note 2: There was no amount received as of March 5, 2021.

Note 3: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

168 -

USI CORPORATION AND SUBSIDIARIES

(Asia Polymer Corporation (APC))

RECEIVABLES FROM RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PA ID-IN CAPITAL

DECEMBER 31, 2020

TABLE 6-5

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Company Name	Related Party	Relationship	Financial Statement Account and Ending Balance (Note 3)	Turnover Rate (%)	O v e r d u e	O v e r d u e	Amounts Received in Subsequent Period(Note 2)	Allowance for Impairment Loss
					Amount	Actions Taken
Asia Polymer Corporation	USI Corporation	Ultimate parent company	Accounts receivable - related parties $ 189,988	3.94	$ -	`－`	$ 189,988	Note 1

Note 1: It is assessed that no allowance for impairment loss is needed.

Note 2: The subsequent period refers to the period from January 1, 2020 to March 5, 2020.

Note 3: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

169 -

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

TABLE 7

USI CORPORATION AND SUBSIDIARIES

INFORMATION ON INVESTEES

YEAR 2020

Investor	Investee	Location	Main Businesses and Products	Original Investment Amount	Original Investment Amount	As of December	As of December	31,2020	Net Income (Loss) of the Investee	Share of Profits (Loss)	N o t e
				December 31, 2020	December 31, 2019	Number of Shares	Percentage (`％`)	Carrying Amount
USI Corporation Ever Conquest Global Limited Ever Victory Global Limited	USIFE Investment Co., Ltd. Swanlake Traders Ltd. USI (Hong Kong) Company Limited Union Polymer Int'l Investment Corp. Taiwan United Venture Capital Corp. Chong Loong Trading Co., Ltd. Swanson Plastics Corp. Acme Electronics Corp. INOMA Corporation USI Management Consulting Corp. Cypress Epoch Limited Thintec Materials Corporation Ever Conquest Global Limited USI Optronics Corporation Ever Victory Global Limited Dynamic Ever Investments Limited	12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) Flemming House, Wickhamo Cay, P.O. Box 662, Road Town, Tortola, British Virgin Islands 6/F., Caltex House, 258 Hennessy Road, Hong Kong 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) 10F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) 8F., No. 39, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands Room 1902, 19/F, Lee Gargen One, 33 Hysan Aveme, Causeway Bay, Hong Kong	Investment (focused on “production, transportation, storage, building, bank, securities investment and trading industry”) Trading and investment Trading and investment Investment (focused on “production and service industry”) Venture capital (focused on “high technology industry”) Import and export trade Production and marketing of stretch film, embossed film and industrial-use multi- layer wrap Production and marketing of manganese-zinc soft ferrite powder Optical products and fireproof materials Providing management services Investment Reinforced plastic products manufacturing Investment Manufacturing and marketing of sapphire crystal Investment Investment	$ 550,000 728,439 63,482 3,490,255 471,800 28,323 171,210 221,513 250,703 1,000 150,540 - 7,645,980 330,000 11,880,290 (USD 417,145 thousand ) 16,770,448 (USD 588,850 thousand )	$ 550,000 728,439 63,482 3,490,255 471,800 28,323 171,210 221,513 250,354 1,000 150,540 36,250 7,645,980 330,000 11,130,838 (USD 390,830 thousand ) 13,906,385 ( USD 488,286 thousand)	87,250,800 30,000,000 159,999 616,268,754 32,900,000 4,358,183 62,616,299 49,250,733 9,243,369 671,400 5,000,000 - 246,670,000 33,000,000 417,145,000 588,850,000	100.00 100.00 100.00 100.00 70.00 99.93 40.58 26.91 94.37 100.00 100.00 - 59.13 50.85 67.40 85.00	$ 861,889 1,293,513 67,491 7,739,718 180,508 55,164 1,050,935 333,831 19,405 1,539 128,814 - 7,331,652 69,501 12,398,596 (USD 435,344 thousand ) 17,523,490 (USD 615,291 thousand )	$ 96,609 17,016 ( 3,231) 1,453,262 ( 4,172) 10,840 247,423 33,393 ( 8,747) 2,067 1,804 15 ( 113,719 ) ( 62,320 ) ( 153,635 ) ( USD -5,198 thousand) ( 175,395 ) ( USD -5,942 thousand )	$ 96,609 17,016 ( 3,231) 1,433,560 ( 2,921) 10,591 100,399 8,987 ( 8,189) 2,067 1,804 5 ( 69,661 ) ( 31,687 )	Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary (Note 1) Subsidiary Subsidiary Subsidiary Sub- subsidiary

(Continued)

170 -

Investor	Investee	Location	Main Businesses and Products	Original Investment Amount	Original Investment Amount	As	of December	30,2020	Net Income (Loss) of the Investee	Share of Profits (Loss)	Note
				December 30, 2020	December 31, 2019	Number of Shares	Percentage (`％`)	Carrying Amount
Union Polymer Int'l Investment Corp. USIFE Investment Co., Ltd. Taiwan United Venture Capital Corp. Chong Loong Trading Co., Ltd. Swanlake Traders Ltd.	Taita Chemical Company, Ltd. Asia Polymer Corporation China General Plastics Corporation Acme Electronics Corp. Swanson Technologies Corporation Taiwan United Venture Management Corp. Thintec Materials Corporation Forum Pacific Trading Ltd. ACME Electronics (Cayman) Corp.	12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) 8F., No. 39, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) British Virgin Islands Ugland House P.O. Box 309 George Town, Grand Cayman, Cayman Islands	Production and marketing of polystyrene, acrylonitrile, butadiene, ABS resin, SAN resin, glasswool insulation products and plastic materials Production and marketing of low-density polyethylene, medium-density polyethylene, ethylene vinyl acetate and importing and marketing of linear low-density polyethylene and high-density polyethylene Production and marketing of plastic cloths, plastic skins, plastic tubes, plastic pellets, plastic powder and other related products Production and marketing of manganese-zinc soft ferrite powder Production, marketing and development of EVA packaging film and other value added plastic products Business management consulting Reinforced plastic products manufacturing Import and export trade Investment	$ 1,749,212 1,965,437 1,320,045 155,632 30,000 8,000 - - ( USD - ) 102,943 ( USD3,538 thousand )	$ 1,749,212 1,965,437 1,320,045 155,632 30,000 8,000 21,465 6,266 ( USD 220 thousand ) 102,943 ( USD 3,538 thousand)	126,239,833 188,297,389 133,914,219 16,424,242 3,000,000 800,000 - - 5,609,231	36.67 32.35 24.20 8.98 15.00 100.00 - - 11.23	$ 2,543,863 4,416,651 2,477,854 125,914 ( 16,165 ) 15,405 - - 135,451 ( USD4,756thousand )	$ 1,919,818 1,103,587 1,634,184 33,393 ( 14,109) 15,405 15 ( 20 ) ( USD -1 thousand ) 9,485 ( USD 336 thousand )		Sub- subsidiary Sub- subsidiary Sub- subsidiary Subsidiary Sub- subsidiary Sub- subsidiary Subsidiary Sub- subsidiary (Note 2) Sub- subsidiary

Note 1: The Company recovered the remaining of liquidation properties of 3,876 thousand dollars on May, 2020. Thintec Materials Corporation has completed the dissolution and liquidation procedures on July 22,

Note 2: Chong Loong Trading Co., Ltd.has recovered the remaining of liquidation properties of 6,828 thousand dollars in May, 2020. Forum Pacific Trading Ltd. has completed the dissolution and liquidation procedures on December 29, 2020.

Note 3: Information on investments in mainland China is provided in Table 8.

Note 4: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

171 -

USI CORPORATION AND SUBSIDIARIES

(Acme Electronics Corporation)

INFORMATION ON INVESTEES

YEAR 2020

TABLE 7-1

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Investor	Investee	Location	Main Businesses and Products	Original Investment Amount(Note 2)	Original Investment Amount(Note 2)	As	of December 31,2020	of December 31,2020	Net Income (Loss) of the Investee	Share of Profits (Loss)	Note
				December 31, 2020	December 31, 2019	Number of Shares	Percentage (`％`)	Carrying Amount
Acme Electronics Corporation ACME Electronics (Cayman) Corp. ACME Components (Malaysia) Sdn. Bhd.	ACME Electronics (Cayman) Corp. Golden Amber Enterprises Limited ACME Electronics (BVI) Corp. USI Optronics Corporation ACME Components (Malaysia) Sdn. Bhd. ACME Ferrite Products Sdn. Bhd.	Ugland House P.O. Box 309 George Town, Grand Cayman, Cayman Islands CITCO Building, Wickhams Cay Road Town, Tortola, British Virgin Islands CITCO Building, Wickhams Cay P.O. Box 662, Road Town, Tortola, British Virgin Islands 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) Plot 15,Jalan Industri 6 Kawasan Perindustrian Jelapang II (ZPB) Jelapang 30020 Ipoh, Perak, Malaysia. Plot 15,Jalan Industri 6 Kawasan Perindustrian Jelapang II (ZPB) Jelapang 30020 Ipoh, Perak, Malaysia.	Investment Investment Investment Production and marketing of sapphire monocrystals Investment Production and marketing of soft ferrite core	$ 605,182 ( USD 18,336 thousand ) 669,072 ( USD 20,800 thousand ) - 646,200 USD 11,891 thousand MYR 37,964 thousand	$ 605,182 ( USD 18,336 thousand ) 669,072 ( USD 20,800 thousand ) 23,923 ( USD730 thousand) 646,200 USD 11,891 thousand MYR 37,964 thousand	25,621,692 20,800,000 - 22,064,224 42,600,000 9,120,000	51.27 100.00 - 34.00 100.00 100.00	$ 617,297 897,164 - 46,469 USD 21,890 thousand MYR 90,237 thousand	( $ 9,485 ) ( USD336 thousand ) 75,527 ( 153 ) (USD -5 thousand ) ( 62,320 ) USD909 thousand ( MYR 3,924 thousand ) MYR 4,006 thousand	( $ 4,189) ( USD150 thousand) 75,527 ( 153 ) (USD -5 thousand ) ( 21,186 ) USD909 thousand ( MYR 3,924 thousand ) MYR 4,006 thousand	Note 1 Note 1 Notes 1 and 3 Note 1 Note 1

Note 1: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

Note 2: The amount is calculated according to the original investment cos t.

Note 3: ACME Electronics (BVI) Corp. had been liquidated on June 30, 2020.

Note 4: Information on investments in mainland China is provided in Table 8 -1.

172 -

USI CORPORATION AND SUBSIDIARIES

(Swanson Plastics Corporation)

INFORMATION ON INVESTEES

YEAR 2020

				YEAR 2020	YEAR 2020
TABLE 7-2						(In Thousands of New Taiwan Dollars,Unless Stated Otherwise)
Investor	Investee	Location	Main Businesses and Products	Original Investment Amount		As of December 31, 2020			Net Income (Loss) of the Investee	Share of Profits (Loss)	Note
				December 31, 2020 (Note 2)	December 31, 2019 (Note 2)	Number of Shares	Percentage (`％`)	Carrying Amount
Swanson Plastics Corporation Swanson Plastics (Singapore) Private Limited Swanson International Ltd.	Swanson Plastics (Singapore) Private Limited Forever Young Company Limited Swanson International Ltd. Curtana Company Ltd. Swanson Technologies Corporation PT. Swanson Plastics Indonesia Swanson Plastics (Malaysia) Sdn. Bhd. Swanson Plastics (India) Private Ltd. PT. Swanson Plastics Indonesia A.S. Holdings (UK) Limited	2 Venture Drive Vision Exchange #12-10 Singapore 608526 Skelton Building Main Street P.O. Box 3136 Road Town, Tortola British Virgin Islands Ugland House, P.O.Box 309 George Town, Grand Cayman, Cayman Islands, British West Indies Flatb 6/F Caltex House 258 Hennessy Road Wanchai, Hong Kong 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan Ngoro Industrial Park Blok D2-3 Ds. Lolawang Kec. Ngoro Kab. Mojokerto Plot 505, Tingkat Perusahaan 4A, Kawasan Perusahaan Perai, Zon Perdagangan Bebas, 13600 Perai, Seberang Perai, Malaysia PLOT No.2, GDDIDC. Honda, Bhuipal Sattari-403 506, Goa-India Ngoro Industrial Park Blok D2-3 Ds. Lolawang Kec. Ngoro Kab. Mojokerto United Kingdom	Production and marketing of plastic products Import, export and agency services Investment Investment EVA packaging film and production, planting, development and sales of agri- technologies Production and marketing of plastic products Production and marketing of plastic products Production and marketing of plastic products Production and marketing of plastic products Investment	$ 808,506 1,297 454,134 4,850 140,000 7,979 187,780 (USD6,593 thousand) 470,229 ( USD 16,511 thousand ) 735,924 ( USD 25,840 thousand ) 202,039 (USD7,094 thousand)	$ 808,506 1,297 454,134 4,850 140,000 7,979 187,780 (USD6,593 thousand) 470,229 ( USD 16,511 thousand ) 735,924 ( USD 25,840 thousand ) 202,039 (USD7,094 thousand)	36,863 50 14,541 1,600 14,000 261 20,000 107,351 25,840 3,157	100.00 100.00 100.00 100.00 70.00 1.00 100.00 100.00 99.00 100.00	$ 1,849,557 75,442 1,616,781 6,238 ( 75,436) 7,141 629,514 ( USD 22,104 thousand ) 295,973 ( USD 10,392 thousand ) 706,953 ( USD 24,823 thousand) 555,647 ( USD 19,510 thousand )	$ 125,581 9,959 129,839 35 ( 14,109) 45,937 104,718 ( MYR 14,932 thousand ) ( 5,526 ) ( INR -13,843 thousand ) 45,937 ( IDR 22,709,929 thousand ) 27,136 ( USD 918 thousand )	$ 125,581 9,959 129,839 35 ( 9,876) 459 104,718 ( USD3,544 thousand ) ( 5,526 ) (USD -187 thousand ) 45,478 ( USD 1,539 thousand ) 27,136 ( USD 918 thousand )	Note 2 Note 2 Notes 2

Note 1: The original investment amount and carrying amount were calculated using the spot exchange rate as of December 31, 2020.

Note 2: Information on investments in mainland China is provided in Table 8 -2.

Note 3: All the transactions were fully eliminated upon preparation of the consolidated f inancial statements.

173 -

USI CORPORATION AND SUBSIDIARIES

(China General Plastics Corporation)

INFORMATION ON INVESTEES

YEAR 2020

TABLE 7-3

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Investor	Investee	Location	Main Businesses and Products	Original Investment Amount	Original Investment Amount	As of December 31,2020	As of December 31,2020	As of December 31,2020	Net Income (Loss) of the Investee	Share of Profits (Loss)	Note
				December 31, 2020	December 31, 2019	Number of Shares	Percentage (`％`)	Carrying Amount
China General Plastics Corporation	Taiwan VCM Corporation CGPC Polymer Corporation CGPC`（`BVI`）`Holding Co., Ltd. China General Terminal & Distribution Corporation CGPC America Corporation Acme Electronics Corporation Thintec Materials Corporation	No. 1, Gongye 1st Rd., Linyuan Dist., Kaohsiung City 832, Taiwan (ROC) 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) Citco Building, Wickhams Cay, P.O. Box 662, Road Town, Tortola, British Virgin Islands No. 1, Jianji St., Qianzhen Dist., Kaohsiung City 806, Taiwan (ROC) 1181 California Ave., Suite 235 Corona, CA 92881 8F., No. 39, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC) 12F., No. 37, Jihu Rd., Neihu Dist., Taipei City 114, Taiwan (ROC)	Manufacture and marketing of vinyl chloride monomer Manufacture and marketing of PVC resin Reinvestment Warehouse of petrochemical raw materials Marketing of PVC second – and third-time processed products Manufacture and marketing of manganese-zinc soft ferrite powder Manufacture and marketing of reinforced plastic products	$ 2,930,995 800,000 1,073,906 41,106 648,931 33,995 -	$ 2,930,995 800,000 1,073,906 41,106 648,931 33,995 15,000	240,206,420 80,000,000 16,308,258 19,918,185 100 3,176,019 -	87.22 100.00 100.00 33.33 100.00 1.74 -	$ 4,020,390 1,177,835 351,935 315,711 208,312 22,517 -	$ 1,232,387 283,408 4,943 69,385 25,001 33,393 15	$ 1,024,137 283,408 4,943 23,128 25,001 579 1	Subsidiary Subsidiary Subsidiary Associate accounted for using the equity method Subsidiary Associate accounted for using the equity method Associate accounted for using the equity method (Note 1)

Note 1: On April 12, 2019, the board of director of TMC resolved to dissolve from May 25, 2019. CGPC recovered $1,274 thousand dollar in share capital and And recognized the penalty loss of 173 thousand dollars in May 2020, and TMC completed the dissolution and liquidation procedures on July 22, 2020.

Note 2: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

Note 3: Information on investments in mainland China is provided in Table 8 -3.

174 -

USI CORPORATION AND SUBSIDIARIES

(Taita Chemical Company, Ltd.)

INFORMATION ON INVESTEES

YEAR 2020

TABLE 7-4

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Investor	Investee	Location	Main Businesses and Products	Original Investment Amount	Original Investment Amount	As of December 31,2020	As of December 31,2020	As of December 31,2020	Net Income (Loss) of the Investee	Share of Profits (Loss)	Note (Note 1)
				December 31, 2020	December 31, 2019	Number of Shares	Percentage (`％`)	Carrying Amount
Taita Chemical Co., Ltd. TAITA (BVI) Holding Co., Ltd.	TAITA (BVI) Holding Co., Ltd. China General Plastics Corporation China General Terminal & Distribution Corporation Acme Electronics Corporation Thintec Materials Corporation ACME Electronics (Cayman) Corp.	British Virgin Islands Taipei Taipei Taipei Taipei British Cayman Islands	Reinvestment Manufacturing and marketing of PVC plastic cloth and three-time processed products Warehousing of petro chemical raw materials Manufacturing and marketing of manganese-zinc and ferrite core Manufacturing of reinforced plastic products Reinvestment	$ 2,555,738 (USD 89,738 thousand ) 65,365 41,082 44,771 - 48,417 ( USD1,700 thousand )	$ 1,758,298 ( USD 61,738 thousand ) 65,365 41,082 44,771 15,000 48,471 ( USD1,700 thousand )	89,738,000 10,967,785 19,918,183 4,445,019 - 2,695,619	100.00 1.98 33.33 2.43 - 5.39	$ 2,951,653 ( USD 103,640 thousand ) 192,320 315,711 31,514 - 65,093 ( USD2,286 thousand )	$ 614,057 ( USD 20,938 thousand ) 1,634,185 69,385 33,393 15 9,485 (USD 336 thousand )	$ 614,057 ( USD 20,938 thousand ) 32,390 23,128 811 1 -	Subsidiary (Note 3) Investments accounted for using the equity method Investments accounted for using the equity method Investments accounted for using the equity method Investments accounted for using the equity method (Note 2) Investments accounted for using the equity method

Note 1: The amount was based on audited financial statements of the investee.

Note 2: Thintec Materials Corporation (TMC) went into dissolution and liquidation from May 25, 2019. The Group obtained $1,247 thou sand of the remaining property distribution from liquidation in May 2020, and recognized a loss on disposal of $173 thousand while TMC completed the dissolution and liquidation procedures on July 22, 2020.

Note 3: All the transactions were fully eliminated upon preparation o f the consolidated financial statements.

Note 4: Investments in mainland China are included in Table 8 -4.

175 -

USI CORPORATION AND SUBSIDIARIES (Asia Polymer Corporation) INFORMATION ON INVESTEES YEAR 2020

TABLE 7-5

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Investor	Investee	Location	Main Businesses and Products	Original Investment Amount	Original Investment Amount	As of December 31, 2020	As of December 31, 2020	As of December 31, 2020	Net Income (Loss) of the Investee	Share of Profits (Loss)	Note
				December 31, 2020	December 31, 2019	Number of Shares	Percentage (`％`)	Carrying Amount
Asia Polymer Corporation APC (BVI) Holding Co., Ltd. APC Investment Corporation Ever Conquest Global Ltd. Ever Victory Global Ltd.	APC (BVI) Holding Co., Ltd. APC Investment Corporation USI International Corp. China General Plastics Corporation China General Terminal & Distribution Corporation Swanson Plastics Corporation Acme Electronics Corporation Taiwan United Venture Capital Corp. Thintec Materials Corporation USI Optronics Corporation Ever Conquest Global Ltd. ACME Electronics (Cayman) Corp. USI International Corp. Acme Electronics Corporation Swanson Technologies Corporation Ever Victory Global Ltd. Dynamic Ever Investments Ltd.	British Virgin Islands Taipei British Virgin Islands Taipei Taipei Taipei Taipei Taipei Taipei Taipei British Virgin Islands British Cayman Islands British Virgin Islands Taipei Taipei British Virgin Islands Hong Kong	Reinvestment Investment Reinvestment Production and sales of plastic sheets, plastic leather, plastic tubes, plastic granules, plastic powder, profile extrusion materials, chlor-akali products and other related products Warehousing and transportation of petro chemical raw materials Manufacture and marketing of stretch film and industrial multi-layer packaging film Manufacture and marketing of manganese zinc, manganese-zinc ferrite, magnetic powder and ferrite core Investment in high technology businesses Manufacture of reinforced plastic products Manufacture and marketing of sapphire products Reinvestment Reinvestment Reinvestment Manufacture and marketing of manganese zinc, manganese-zinc ferrite, magnetic powder and ferrite core Manufacture and marketing of EVA film Reinvestment Reinvestment	$ 392,306 ( USD 13,775thousand ) 200,000 59,808 ( USD2,100 thousand ) 247,412 41,082 75,242 61,348 52,791 - 59,725 4,855,128 ( USD 170,475 thousand ) 149,375 ( USD5,245 thousand ) 25,632 ( USD900 thousand ) 14,889 30,000 11,880,290 ( USD 417,145 thousand ) 16,770,448 ( USD 588,850 thousand )	$ 392,306 ( USD 13,775thousand ) 200,000 79,744 ( USD2,800 thousand ) 247,412 41,082 75,242 61,348 52,791 36,250 59,725 4,105,677 ( USD 144,160 thousand ) 149,375 ( USD5,245 thousand ) 34,176 ( USD1,200 thousand ) 14,889 30,000 11,130,838 ( USD 390,830 thousand ) 13,906,385 ( USD 488,286 thousand )	11,342,594 20,000,000 2,100,000 44,653,510 19,918,184 12,266,779 6,056,623 3,913,533 - 5,972,464 170,475,000 8,316,450 900,000 1,884,548 3,000,000 417,145,000 588,850,000	100.00 100.00 70.00 8.07 33.33 7.95 3.31 8.33 - 9.20 40.87 16.64 30.00 1.03 15.00 67.40 85.00	$ 517,012 132,491 63,415 782,997 315,711 206,857 42,939 21,472 - 12,579 5,066,945 200,825 27,178 13,361 ( 16,165) 12,398,596 ( USD 435,344 thousand ) 17,523,490 ( USD 615,291 thousand )	$ 15,182 33,542 5,387 1,634,185 69,385 247,423 33,393 ( 4,172) 15 ( 62,320) ( 113,719) 9,485 5,387 33,393 ( 14,109 ) ( 153,485) ( USD5,198 thousand ) ( 175,395 ) ( USD5,942 thousand )	$ 15,182 33,542 3,771 131,866 23,128 19,669 1,105 ( 347) 4 ( 5,735) ( 44,058) - - - - - -	Subsidiary (Note 1) Subsidiary (Note 1) Subsidiary (Note 1) Investments accounted for using the equity method Investments accounted for using the equity method Investments accounted for using the equity method Investments accounted for using the equity method Investments accounted for using the equity method Investments accounted for using the equity method Investments accounted for using the equity method Investments accounted for using the equity method Investments accounted for using the equity method Investments accounted for using the equity method (Note 1) Investments accounted for using the equity method Investments accounted for using the equity method Investments accounted for using the equity method Investments accounted for using the equity method

Note 1: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

Note 2: Investments in mainland China are included in Table 8-5.

176 -

USI CO RPO RATION AND SUBSIDIARIES

INFORMATION O N INVESTMENTS IN MAINLAND CHINA

YEAR 2020

TABLE 8

(In Thousands of New Taiwa n Dollars, Unless Sta ted O therwise)

Investee Company	Main Businesses and Products	Paid-in Capital (Note 7)	Paid-in Capital (Note 7)	Method of Investme nt	Accumulated Outward Remittance for Investment from Taiwan as of January 1, 2020 (Note 7)	I n v e s t m e n t F l o w s ( N o t e 7 )	I n v e s t m e n t F l o w s ( N o t e 7 )	Accumulated Outward Remittance for Investment from Taiwan as of December 31, 2020 (Note 7)	Net Income (Loss) of the Investee	Ownership of Direct or Indirect Investment (%)	Investment Gain (Loss)	Carrying Amount as of December 31, 2020	Accumulated Repatriation of Investment Income as of December 31, 2020
						Outflow	Inflow
Acme Electronics (Kunshan) Co., Ltd. Usig (Shanghai) Co., Ltd. Fujian Gulei Petrochemical Co., Ltd. (“Gulei”)	Manufacture and marketing of manganese-zinc soft ferrite core Importing and distributing various chemical raw materials and products Crude oil processing and petroleum products manufacturing	$ 875,048 ( USD30,725 thousand) 142,400 ( USD 5,000 thousand ) 40,655,493 ( RMB 9,314,400 thousand )		Note 1 Note 2 Note 3	$ 80,243 ( USD 2,818 thousand ) 142,400 ( USD 5,000 thousand ) 6,483,627 ( USD 227,655 thousand )	$ - - 22,622 ( USD 794 thousand )	- - -	$ 80,243 ( USD 2,818 thousand ) 142,400 ( USD 5,000 thousand ) 6,506,249 ( USD 228,450 thousand )	$ 7,332 ( USD 253 thousand ) 1,804 ( USD 62 thousand ) ( 329,957 ) ( USD-11,197 thousand )	11.23 100.00 16.94	$ 823 ( USD 28 thousand ) 1,804 ( USD 62 thousand ) ( 62,741 ) ( USD-2,125 thousand )	$ 88,114 ( USD 3,094 thousand ) 128,814 ( USD 4,523 thousand ) 6,833,319 ( USD 239,934 thousand )	$ - - -

Accumulated Outward Remittance for Investment in Mainland China as of December 31,2020			Investment Amounts Authorized by Investment Commission, MOEA			Upper Limit on the Amount of Investment Stipulated by Investment Commission, MOEA
$6,953,345 (USD 244,148 thousand)			$8,703,018(Note 5) (USD 305,584 thousand)			$ -`（`Note 4`）`

Note 1: The Compa ny reinvested in China - based compa nies via Swa nla ke Tra ders Ltd. (100%) by wiring transfer funds to other areas.

Note 2: The Compa ny reinvested in the China area via the Cypress Epoc h Limited (100%).

Note 3: The Compa ny reinvested in 50% of the outstanding shares of G ulei via Ever Conq uest Global Limited (60.21%), then via Ever Victory G lobal Limited (71.04%), a nd finally via Dyna mic Ever Investments Limited (85.3 2%).
Note 4: As the Company has obta ined the certifica te of being q ualif ied for opera ting headq uarters issued by the Industrial De velopment Bureau, MO EA No. 10920403810 on February 11, 2020, the upper limit on investment i n mainla nd China is not a pplica ble .
Note 5: As included in the certifica te of being q ualified for opera ting hea dquarters issued by the Industrial Development Bur ea u, MO EA No. 10500116380 on September 1, 2016, No. 10500234240 on December 29, 2016, and No. 10500234240 on February 26, 2020, the Compa ny wa s able to wire transfer US$257,939 thousa nd to Gulei , and was a lso approved to invest a nd esta blish dealing entity in third areas with US$32,200 thousand in accorda nc e with certif icate No. 10900243220 issued by the Industrial Development Bure a u, MO EA on Oc tober 5, 2020. and was also a pproved to invest and establish dea ling entity in third areas with US$32,2 00 thousand in accorda nce with certifica te No. 10900243220 issued by the Industrial Development Burea u, MO EA on October 5, 2020.
Note 6: Except f or Gulei, All the tra nsactions were fully elimina ted upon prepara tion of the consolida ted fina ncial sta tements.
Note 7: The amount was calc ula ted using the spot excha nge rate as of December 31, 2020.
Note 8: Except for ACME Elec tronics (Kunsha n) Co. , Ltd., whose numbers were based on its financ ial statements reviewed by the Certified Public Accountants of its RO C parent c ompa ny, all the other companies’ were based o n non-reviewed fina ncial sta tements.
177 -

USI CORPORATION AND SUBSIDIARIES

(Acme Electronics Corporation (ACME))

INFORMATION ON INVESTMENTS IN MAINLAND CHINA

YEAR 2020

TABLE 8-1

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Investee Company	Main Businesses and Products	Paid-in Capital	Paid-in Capital	Method of Investment (Note 1)	Accumulated Outward Remittance for Investment from Taiwan as of January 1, 2020 (Note 5)	I n v e s t m e	n t F l o w s	Accumulated Outward Remittance for Investment from Taiwan as of December 31, 2020 ( N o t e 5 )	Net Income (Loss) of the Investee (Note 6)	Ownership of Direct or Indirect Investment (%)	Investment Gain (Loss) (Notes 4, 6 and 8)	Carrying Amount as of December 31, 2020 (Notes 7 and 8)	Accumulated Repatriation of Investment Income as of December 31, 2020
						Outflow	Inflow
Acme Electronics (Kunshan) Co., Ltd. Acme Electronics (Guang-Zhou) Co., Ltd.	Manufacture and marketing of manganese-zinc soft ferrite core Manufacture and marketing of manganese-zinc soft ferrite core	USD 30,725 thousand USD 19,200 thousand		II II	$ 374,188 ( USD 11,144 thousand ) 619,676 ( USD 19,200 thousand )	$ - -	$ - -	$ 374,188 ( USD 11,144 thousand ) 619,676 ( USD 19,200 thousand )	$ 7,332 ( RMB1,739 thousand ) 76,126 ( RMB 17,806 thousand )	51.27 100.00	$ 3,759 ( RMB 892 thousand ) 76,126 ( RMB 17,806 thousand )	$ 402,485 ( RMB 92,212 thousand ) 893,058 ( RMB 204,604 thousand)	$ - -

Accumulated Outward Remittance for Investment in Mainland China as of December 31,2020			Investment Amounts Authorized by Investment Commission, MOEA			Upper Limit on the Amount of Investment Stipulated by Investment Commission, MOEA
$864,197`（`USD 30,344 thousand`）` `（`Notes 3 and 7`）`			$1,043,308`（`USD 36,633 thousand`）` `（`Notes 3 and 7`）`			$ - `（`Note 2`）`

Note 1: Investment method II indicates that ACME reinvested in the China area via another investment area.

Note 2: As the Company has obtained the certif icate of being qualified for operating headquarters issued by the Industrial Development Bureau, MOEA No. 09704604680 on Augu st 29, 2008, the upper limit on investment in mainland China is not applicable.

Note 3: ACME Electronics (Kunshan) transferred earn ings to ordinary shares, and ACME increased the amount of US$6,289 thousand at its ownership percentage.

Note 4: ACME recognized the investment gain (loss), according to Certified Public Accountants and auditing financial report a ccepted in the ROC.

Note 5: The calculation was based on the exchange rate on the original investment date.

Note 6: The calculation was based on the average exchange rate from January 1, 2020 to December 31, 2020.

Note 7: The amount was calculated using the spot exchange rate on De cember 31, 2020.

Note 8: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

178 -

USI CORPORATION AND SUBSIDIARIES

(Swanson Plastics Corporation)

INFORMATION ON INVESTMENTS IN MAINLAND CHINA

YEAR 2020

TABLE 8-2

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Investee Company	Main Businesses and Products	Paid-in Capital (Note 1)	Paid-in Capital (Note 1)	Method of Investment	Method of Investment	Accumulated Outward Remittance for Investment from Taiwan as of January 1, 2020	Investment Flows	Investment Flows	Accumulated Outward Remittance for Investment from Taiwan as of December 31, 2020	Net Income (Loss) of the Investee	Ownership of Direct or Indirect Investment (%)	Investment Gain (Loss) (Note 3)	Carrying Amount as of December 31, 2020 (Note 3)	Accumulated Repatriation of Investment Income as of December 31, 2020
							Outflow	Inflow
Swanson Plastics (Kunshan) Co., Ltd. ASK-Swanson (Kunshan) Co., Ltd. Swanson Plastics (Tianjin) Co., Ltd.	Production, sales and development of multi-functional film, optical film, etc. Management of PE release film and other release products Production, sales and development of multi-functional film, optical film, etc.	$ 378,499 ( USD 13,290 thousand ) 259,168 ( USD 9,100 thousand ) 304,736 ( USD 10,700 thousand )		Indirect investment via Swanson International Ltd. of British Cayman Islands Indirect investment in A.S. Holdings (UK) Limited via Swanson International Ltd. Indirect investment via Swanson (Singapore) Private Ltd.		$ 223,930 193,447 170,754	$ - - -	$ - - -	$ 223,930 193,447 170,754	$ 102,704 ( USD 3,476 thousand ) 27,136 ( USD 918 thousand ) ( 37,631 ) ( USD -1,274 thousand )	100.00 100.00 100.00	$ 102,704 ( USD 3,476 thousand ) 27,136 ( USD 918 thousand ) ( 37,631 ) ( USD -1,274 thousand )	$ 1,149,537 ( USD 40,363 thousand ) 555,647 ( USD 19,510 thousand ) 98,070 ( USD 3,443 thousand )	$ - - -

Accumulated Outward Remittance for Investment in Mainland China as of D e c e m b e r 3 1 , 2 0 2 0			Investment Amounts Authorized by I n ve s tm e n t C omm i s s i o n, M O EA		Upper Limit on the Amount of Investment Stipulated by Investment Commission, M O E A
$ 588,131			$ 933,738 (USD 32,786 thousand)		$ -`（`Note 2`）`

Note 1: Paid in capital and upper limit on the investment amount stipulated by Industrial Development Bureau, MOEA were calcu lated using the spot exchange rate on December 31, 2020.

Note 2: According to the certificate of being qualified for ope rating headquarters issued by the Industrial Development Bureau, MOEA No. 10920418410, on June 18, 2020, the upper limit on investment in mainland China pursuant to the “Principle of Investment or Technical Cooperation in Mainland China” is not applicable .

Note 3: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

179 -

USI CORPORATION AND SUBSIDIARIES

(China General Plastics Corporation (CGPC))

INFORMATION ON INVESTMENTS IN MAINLAND CHINA

YEAR 2020

TABLE 8-3	TABLE 8-3	TABLE 8-3	TABLE 8-3	TABLE 8-3	TABLE 8-3		(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)	(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)	(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)	(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)	(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)	(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)
Investee Company	Main Businesses and P r o d u c t s	Paid-in Capital ( N o t e 1 )	Method of Investment	A c c u m u l a t e d O u t w a r d R e m i t t a n c e for Investment f r o m T a i w a n a s o f January 1, 2020 ( N o t e 1 )	I n v e s t m e	n t F l o w s	A c c u m u l a t e d O u t w a r d R e m i t t a n c e for Investment f r o m T a i w a n a s o f December 31, 2020 ( N o t e 1 )	Net Income (Loss) o f t h e I n v e s t e e	Ownership o f Direct or I n d i r e c t Investment ( % )	Investment Gain ( L o s s ) ( N o t e 5 )	Carrying Amount a s o f December 31, 2020 (Notes 1 and 5)	A c c u m u l a t e d Repatriation of Investment Income as of December 31, 2 0 2 0
					O u t f l o w	I n f l o w
Continental General Plastics (ZhongShan) Co., Ltd. (“CGPC (ZS)”) (Note 4) CGPC Consumer Products Corporation (“CGPC (CP)”) (Note 4)	Manufacture and marketing of PVC leather and third- time processed products Manufacture and marketing of PVC third-time processed products	$ 569,600 ( USD 20,000 thousand ) 42,720 ( USD 1,500 thousand )	Indirect investment via CGPC (BVI) Holding Co., Ltd. Indirect investment via CGPC (BVI) Holding Co., Ltd.	$ 569,600 ( USD 20,000 thousand ) 42,720 ( USD 1,500 thousand )	$ - -	$ - -	$ 569,600 ( USD 20,000 thousand ) 42,720 ( USD 1,500 thousand )	$ 4,270 ( USD 146 thousand ) ( 3 ) ( USD - thousand )	100.00 100.00	$ 4,270 ( USD 146 thousand ) ( 3 ) ( USD - thousand )	$ 266,359 ( USD 9,352 thousand ) 13,519 ( USD 475 thousand )	$ - -

Accumulated Outward Remittance for Upper Limit on the Amount of Investment I n ve s tm e n t Amo un ts A u tho r iz e d b y Investment in Mainland China as of Stipulated by Investment Commission, Investment Commission, MOEA (Note 1) De c em b er 31 , 2 02 0 ( No te s 1 an d 3 ) M O E A ( N o t e 2 ) $ 771,295 （ USD 27,082 thousand ） $894,272 （ USD 31,400 thousand ） $ -

Note 1: The amount was calculated using the spot exchange rate as of December 31, 2020.

Note 2: As the CGPC obtained the certificate of qualification of operating headquarters issued by the Industrial Developm ent Bureau No. 10920426850 on September 8, 2020, the upper limit on investment in mainland China pursuant to the “Principle of Investment or Technical Cooperation in Mainland China” is not applicable.
Note 3: QuanZhou Continental General Plastics Co., Ltd. (“CGPC (QZ)”) and Union (Zhong Shan) Co., Ltd. (“Union (ZS)”) completed dissolution procedures, and CGPC (BVI) Holding Co., L td. (“CGPC (BVI)”) retrieved the residual assets. The shares of Continental General Plastics (SanHe) Co., Ltd. were fully sold, an d CGPC (BVI) retrieved the residual assets. However, the amount of capital has not been wired back to Taiwan. The accumulated amount includes the investment amount of CGPC (QZ) of $ 19,408 thousand (US$684 thousand), the investment amount of Union (ZS) of $ 25,575 thousand (US$898 thousand) and the investment amount of Continental General Plastics (SanHe) Co., Ltd. of $ 113,920 thousand (US$4,000 thousand).
Note 4: The board of directors of CGPC passed a resolution to dissolve CGPC (ZS) and CGPC (CP) in Octobe r 24, 2011. As of December 31, 2020, the dissolution procedures have not yet been completed. Note 5: The recognition of investment income (loss) was based on financial statements which had been reviewed by CPA.

Note 6: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

180 -

USI CORPORA TIO N A ND SU BSIDIA RIES

(Taita Che mical Company, Ltd. ( TTC))

INFO RMATIO N ON INV ESTMENTS IN MAINLA ND CHINA

YEAR 2020

TABLE 8-4

(In Thou sands of New Taiwan D ollars, Unle ss State d Othe rwi se)

Investee Company	Main Businesses and Products	Paid-in Capital	Paid-in Capital	Method of Investment	Accumulated Outward Remittance for Investment from Taiwan as of January 1, 2020	Accumulated Outward Remittance for Investment from Taiwan as of January 1, 2020	I n v e s t m e	n t F l o w s	Accumulated Outward Remittance for Investment from Taiwan as of December 31, 2020	Net Income (Loss) of the Investee (Note 5)	Ownership of Direct or Indirect Investment (%)	Investment Gain (Loss) (Note 5)	Carrying Amount as of December 31, 2020 (Note 5)	Accumulated Repatriation of Investment Income as of December 31, 2020
							Outflow	Inflow
Taita Chemical (Zhongshan) Co., Ltd. (“TAITA (ZS)”) Taita Chemical (Tianjin) Co., Ltd. (“TAITA (TJ)”) ACME Electronics (Kunshan) Co., Ltd. (“ACME (KS)”)	Production and marketing of polystyrene derivatives Production and marketing of polystyrene derivatives Manufacturing and marketing of manganese-zinc soft ferrite core	$ 1,317,200 ( USD 46,250 thousand) `（`Note 1`）` 778,928 ( USD27,350 thousand ) `（`Note 2`）` 875,048 ( USD30,725 thousand )		Investment through a holding company registered in a third region Investment through a holding company registered in a third region Investment through a holding company registered in a third region ACME Electronics (Cayman) Corp	$ 1,224,640 ( USD43,000 thousand ) 740,480 ( USD26,000 thousand ) 38,562 ( USD 1,354 thousand )		$ - - -	$ - - -	$ 1,224,640 ( USD43,000 thousand ) 740,480 ( USD26,000 thousand ) 38,562 ( USD 1,354 thousand )	$ 610,521 ( USD 20,747 thousand ) ( 19,049 ) ( USD 712 thousand ) 7,332 ( USD 253 thousand )	100.00 100.00 5.39	$ 610,521 ( USD 20,747 thousand ) `（`Note7`）` ( 19,049 ) ( USD 712 thousand ) 396 ( USD 14 thousand )	$ 2,947,550 ( USD103,495 thousand) ( 104,563) ( USD-3,671 thousand) 42,345 ( USD 1,487 thousand )	$ - - -

Accumulated Outward Remittance for Investment in Mainland China as of December 31,2020			Investment Amounts Authorized by Investment Commission, MOEA			Upper Limit on the Amount of Investment Stipulated by Investment Commission, MOEA
$2,003,682 (USD 70,354 thousand)			$ 2,159,277 (USD 75,817 thousand)`（`Note 3`）`			$ -`（`Note 4`）`

Note 1: TA ITA ( ZS) resolve d t o is sue share divide nds of U S$3,250 t hou sand in 2007.

Note 2: TA ITA ( TJ) re solved to iss ue s hare divi dends of U S$1,350 t hou sand in 2012.

Note 3: The a mo unt dist ribut ed from s hare divide nds include d U S$3 ,250 t hou sand f rom TAITA (ZS), U S$1,3 50 thou sand f rom TAITA (TJ) a nd US$802 t hou sand f rom ACME ( KS).

Note 4 : As the TTC o btaine d the ce rtificate of qualif ication of ope rating hea dquarters issue d by t he Indu strial Devel opme nt B ureau No. 10820415160 on June 6, 2019, the uppe r li mit on i nvest ment i n Mai nland Chi na pursuant to t he “Principle of Inv est ment or Technical Coop eration i n Mainland China” is not ap plicable.

Note 5: The reco gnition of inve stme nt inco me (los s) w as base d on fi nancial state me nts a udite d b y CPA of the pare nt c ompa ny of TTC in Taiwan.

Note 6: All t he t ransactio ns were full y eli minate d u pon p reparation of t he consolidate d financial statements .

Note 7: TA ITA ( ZS) a gree d t o waive t he capital and i nterest of the loan to TA ITA(TJ) of RMB 15,000 thousa nd on November , 2020.

181 -

USI CORPORA TIO N A ND REINV ESTMENT CO MPA NIES

(Asia Pol ymer Corp oration (A P C))

INFO RMATIO N ON INV ESTMENTS IN MAINLA ND CHINA

YEAR 2020

TABLE 8-5

(In Thou sands of New Taiwan D ollars, Unle ss State d Otherwi se)

Investee Company	Main Businesses and Products	Paid-in Capital (Note 4)	Paid-in Capital (Note 4)	Method of Investment (Note 1)	Accumulated Outward Remittance for Investment from Taiwan as of January 1, 2020	Accumulated Outward Remittance for Investment from Taiwan as of January 1, 2020	I n v e s t m e n t F l o w s	I n v e s t m e n t F l o w s	Accumulated Outward Remittance for Investment from Taiwan as of December 31, 2020	Net Income (Loss) of the Investee (Note 3)	Ownership of Direct or Indirect Investment (%)	Investment Gain (Loss) (Note 3)	Carrying Amount as of December 31, 2020 (Note 4)	Accumulated Repatriation of Investment Income as of December 31, 2020
							Outflow	Inflow
ACME Electronics (Kunshan) Co., Ltd. USI Trading(Shanghai) Co., Ltd. Fujian Gulei Petrochemical Co., Ltd.	Manufacture and marketing of manganese-zinc soft ferrite core Sales of chemical engineering products and equipment Processing of crude oil and manufacturing of petroleum products	$ 875,018 ( USD 30,725 thousand ) 71,200 ( USD 2,500 thousand ) 40,655,493 ( RMB 9,314,400 thousand )		(2) ACME Electronics (Cayman) Corp. (2) APC (BVI) Holding Co., Ltd. (2) Dynamic Ever Investment Ltd. `（`Note 2`）`	$ 118,971 ( USD 4,177 thousand ) 86,454 ( USD 3,036 thousand ) 3,789,932 ( USD 133,073 thousand )		$ - - 706,572 ( USD24,809 thousand )	$ - - -	$ 118,971 ( USD 4,177 thousand ) 86,454 ( USD 3,036 thousand ) 4,496,504 ( USD 157,883 thousand )	B $ 7,332 B 11,497 A ( 330,217 )	16.64 100.00 11.71	$ 1,220 11,497 ( 40,514 )	$ 130,641 120,346 4,723,802	$ - - -

A c c u m u l a t e d O u t w a r d R e m i t t a n c e f o r Investment in Mainland China as of December 31, 2020			I n v e s t m e n t I n v e s t m e n t	A m o u n t s A u t C o m m i s s i	h o r i z e d b y o n , M O E A	Upper Limit on the Amount of Investment S t i p u l a t e d b y I n v e s t m e n t C o m m i s s i o n , M O E A
$4,839,207`（`Note 5`）`				$6,374,838		$ -`（`Note 6`）`
`（`USD169,916 thousand`）`			`（`USD223,836 thousand`）`

Note 1: Invest ment s are divided int o t hree cate gorie s as follow s:

a. Direct invest me nt.
b. Invest ment s t hro ugh a holdi ng company re gistere d in a t hird region.
c. Ot hers.

Note 2: The Compa ny rei nvest ed in 50% of the outsta nding s hare s of Gulei via Eve r Conquest Gl obal Limit e d ( 40.87% ), the n via Ever Victory Global Lt d. ( 67.40%) , and finally via D yna mic Ever Inv estment s Ltd. (85 . 00%). Note 3: For the colu mn o f inv est ment gai n (l oss ):

If t here is no inve stme nt gain (loss) during the pre paration, it should be note d.
If t he basis fo r t he reco gnitio n of inves tme nt gain (l oss) is clas s ified int o t he following three t ype s, it s hould be note d a s f ollows :
A. Fina ncial state ment s au dited by international accounting firms w hich have a cooperati on relationship wi th an accou nting firm i n t he Repu blic of China.
B.Fina ncial statements au dited by the pare nt c ompa ny’s CPA .
C. Ot hers.

Note 4: The a mo unt was calculated u sing t he excha nge rate a s at D ecember 31, 2020.

Note 5: AP C i ndi rectly inve sted su bsi diaries i n Mainl and China throu gh AP C (BVI) Holdi ng Co., Lt d. inve s ting in Silicon Techn ol ogy Inv est ment ( Cayman) Corp. (STIC) and Solargi ga Ene rgy Holdi ngs Ltd.

Note 6: As AP C has o btaine d t he c ertificate of qualif ication f or ope rating headquart ers issu ed by the Industrial Developme nt Bu reau, MO EA No. 10800262940 on Fe bruary 26, 2020, t he upper limit on i nvest ment s in mainla nd China pursua nt t o t he “ Principle of Invest me nt or Tec hnical Cooperation i n Mainland China” i s not applicable.

Note 7: Except for the i nvest ment in Fujian Gulei Petroche mical Co., Ltd., all t he t ransactions were full y eli minate d u p on preparation of t he c onsolidate d financi al stateme nts .

182 -

USI CORPORATION AND SUBSIDIARIES

INTERCOMPANY RELATIONSHIPS AND SIGNIFICANT TRANSACTIONS

JANUARY 1 to DECEMBER 31, 2020

TABLE 9

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

No. (Note 1)	Investee Company	Counterparty	Relationship (Note 2)	T r a n s a c	t i o n	D e t a	i l s
				Financial Statement Accounts	Amount (Note 3)	Payment Terms	Ratio to Total Sales or Assets (%)(Note 4)
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 2 2 2 2 2 2 2 2 2 2 3 3 3 3 3	USI Corporation USI Corporation USI Corporation USI Corporation USI Corporation USI Corporation USI Corporation USI Corporation USI Corporation USI Corporation USI Corporation USI Corporation USI Corporation USI Corporation USI Corporation USI Corporation USI Corporation Asia Polymer Corporation Asia Polymer Corporation Asia Polymer Corporation Asia Polymer Corporation Asia Polymer Corporation Asia Polymer Corporation Asia Polymer Corporation Asia Polymer Corporation China General Plastics Corporation China General Plastics Corporation China General Plastics Corporation China General Plastics Corporation China General Plastics Corporation China General Plastics Corporation China General Plastics Corporation China General Plastics Corporation China General Plastics Corporation China General Plastics Corporation Taita Chemical Company, Ltd. Taita Chemical Company, Ltd. Taita Chemical Company, Ltd. Taita Chemical Company, Ltd. Taita ChemicalCompany,Ltd.	USI (Hong Kong) Company Limited USI Trading (Shanghai) Co., Ltd. Forever Young Company Limited Swanson Plastics Corporation Asia Polymer Corporation Asia Polymer Corporation Swanson Plastics Corporation Dynamic Ever Investments Limited USI Trading (Shanghai) Co., Ltd. USI (Hong Kong) Company Limited Forever Young Company Limited Asia Polymer Corporation USI (Hong Kong) Company Limited Taiwan VCM Corporation Asia Polymer Corporation USI Management Consulting Corporation China General Terminal & Distribution Corporation Swanson Plastics Corporation USI (Hong Kong) Company Limited Taita Chemical Co., Ltd. Swanson Plastics Corporation China General Terminal & Distribution Corporation USI Management Consulting Corporation USI Trading (Shanghai) Co., Ltd. USI Trading (Shanghai) Co., Ltd. Swanson Plastics Corporation Swanson Plastics Corporation China General Terminal & Distribution Corporation USI Management Consulting Corporation Taiwan VCM Corporation Taiwan VCM Corporation CGPC America Corporation CGPC America Corporation CGPC Polymer Corporation CGPC Polymer Corporation USI Trading (Shanghai) Co., Ltd. USI Management Consulting Corporation China General Terminal & Distribution Corporation Taita Chemical (Zhongshan) Co., Ltd. Taita Chemical(Tianjin) Co.,Ltd.	1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3	Sales revenue Sales revenue Sales revenue Sales revenue Sales revenue Purchase Purchase Management services revenue Accounts receivable Accounts receivable Accounts receivable Other receivables Other receivables Other receivables Accounts payable Management services expense Storage tank operating expense Sales revenue Sales revenue Purchase Purchase Storage tank operating expense Management services expense Sales revenue Accounts receivable Purchase Accounts receivable Storage tank operating expense Management services expense Accounts payable Purchase Accounts receivable Sales revenue Purchase Accounts payable Sales revenue Management services expense Storage tank operating expense Sales revenue Other receivables	$ 119,902 118,766 95,742 52,321 25,559 662,705 55,258 19,790 33,203 24,644 28,645 58,713 51,190 96,071 185,681 122,603 47,818 33,686 14,052 10,998 28,322 32,811 39,208 63,613 12,462 35,817 11,274 74,062 41,811 1,069,615 4,290,414 110,613 389,006 61,206 19,827 10,970 49,647 13,210 736,735 263,413	No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference	0.24% 0.24% 0.19% 0.10% 0.05% 1.32% 0.11% 0.04% 0.04% 0.03% 0.04% 0.08% 0.07% 0.12% 0.24% 0.16% 0.06% 0.07% 0.03% 0.02% 0.06% 0.04% 0.08% 0.13% 0.02% 0.07% 0.01% 0.15% 0.08% 2.13% 8.55% 0.22% 0.77% 0.12% 0.04% 0.01% 0.10% 0.03% 0.95% 0.34%

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No. (Note 1)	Investee Company	Counterparty	Relationship (Note 2)	T r a n s a	c t i o	n s D e t a i l s	n s D e t a i l s
				Financial Statement Accounts	Amount (Note 3)	Payment Terms	Ratio to Total Sales or Assets (%)(Note 4)
4 4 4 4 4 4 4 4 4 4 4 4 4 5 5 5 6 7 7 7 7 7 8 8 8 9 9 9 10 10 10 10 10 10 10	Acme Electronics Corporation Acme Electronics Corporation Acme Electronics Corporation Acme Electronics Corporation Acme Electronics Corporation Acme Electronics Corporation Acme Electronics Corporation Acme Electronics Corporation Acme Electronics Corporation Acme Electronics Corporation Acme Electronics Corporation Acme Electronics Corporation Acme Electronics Corporation USI Management Consulting Corporation USI Management Consulting Corporation USI Management Consulting Corporation Taita Chemical (Zhongshan) Co., Ltd. Acme Electronics (Kunshan) Co., Ltd. Acme Electronics (Kunshan) Co., Ltd. Acme Electronics (Kunshan) Co., Ltd. Acme Electronics (Kunshan) Co., Ltd. Acme Electronics (Kunshan) Co., Ltd. CGPC Polymer Corporation CGPC Polymer Corporation CGPC Polymer Corporation Swanson Plastics Corporation Swanson Plastics Corporation Swanson Plastics Corporation Forever Young Company Limited Forever Young Company Limited Forever Young Company Limited Forever Young Company Limited Forever Young Company Limited Forever Young Company Limited Forever YoungCompanyLimited	Acme Electronics (Kunshan) Co., Ltd. Acme Electronics (Guangzhou) Co., Ltd. ACME Ferrite Product Sdn. Bhd. Acme Electronics (Kunshan) Co., Ltd. Acme Electronics (Guangzhou) Co., Ltd. Acme Electronics (Kunshan) Co., Ltd. ACME Electronics (Cayman) Corp. Acme Electronics (Kunshan) Co., Ltd. Acme Electronics (Guangzhou) Co., Ltd. Acme Electronics (Kunshan) Co., Ltd. ACME Electronics (Cayman) Corp. Acme Electronics (Guangzhou) Co., Ltd. Acme Electronics (Kunshan) Co., Ltd. Swanson Plastics Corporation Taiwan VCM Corporation China General Terminal & Distribution Corporation Taita Chemical (Tianjin) Co., Ltd. Acme Electronics (Guangzhou) Co., Ltd. Acme Electronics (Guangzhou) Co., Ltd. Acme Electronics (Guangzhou) Co., Ltd. ACME Ferrite Product Sdn. Bhd. ACME Ferrite Product Sdn. Bhd. Taiwan VCM Corporation Taiwan VCM Corporation Taiwan VCM Corporation Swanson Plastics (Kunshan) Corp. Forever Young Company Limited Forever Young Company Limited Swanson Plastics (Kunshan) Corp. Swanson Plastics (Kunshan) Corp. Swanson Plastics (Malaysia) Sdn. Bhd. Swanson Plastics (Malaysia) Sdn. Bhd. Swanson Plastics (Malaysia) Sdn. Bhd. Swanson Plastics (Malaysia) Sdn. Bhd. Swanson International Ltd.	3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3	Sales revenue Sales revenue Sales revenue Cost of goods sold Processing fee (entered as cost of goods sold) Royalty revenue Management services fee revenue (entered as non-operating incomes-other) Accounts receivable`－`related parties Accounts receivable`－`related parties Other receivables`－`related parties Other receivables`－`related parties Notes and accounts payable`－` related parties Notes and accounts payable`－` related parties Management services revenue Management services revenue Management services revenue Other gains and losses (Note 5) Sales revenue Cost of goods sold Accounts receivable`－`related parties Sales revenue Accounts receivable`－`related parties Accounts payable Other payables Purchase Accounts receivable Sales revenue Management services revenue Sales revenue Accounts receivable Sales revenue Cost of goods sold Accounts receivable Accounts payable Other receivables	$ 144,522 100,974 16,533 67,923 361,060 13,475 16,357 31,073 13,769 12,351 204,223 132,306 19,960 29,371 23,840 18,827 67,876 41,132 21,137 13,674 62,924 11,402 1,437,900 20,798 3,869,633 17,942 69,910 21,260 349,564 75,742 332,832 142,768 31,722 13,091 88,430	No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference	0.19% 0.20% 0.03% 0.14% 0.72% 0.02% 0.02% 0.04% 0.02% 0.02% 0.41% 0.26% 0.04% 0.06% 0.05% 0.04% 0.14% 0.05% 0.03% 0.02% 0.08% 0.01% 2.86% 0.03% 5.00% 0.02% 0.14% 0.04% 0.70% 0.10% 0.66% 0.28% 0.04% 0.02% 0.11%

(Continued)

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No. (Note 1)	Investee Company	Counterparty	Relationship (Note 2)	T r a n s a	c t i o	n s D e t a i l s	n s D e t a i l s
				Financial Statement Accounts	Amount (Note 3)	Payment Terms	Ratio to Total Sales or Assets (%)(Note 4)
10 10 10 11 11 11 11 12 12 13 14	Forever Young Company Limited Forever Young Company Limited Forever Young Company Limited SWANSON PLASTICS (SINGAPORE) PTE LTD. SWANSON PLASTICS (SINGAPORE) PTE LTD. SWANSON PLASTICS (SINGAPORE) PTE LTD. SWANSON PLASTICS (SINGAPORE) PTE LTD. Swanson Plastics (Kunshan) Corp. Swanson Plastics (Kunshan) Corp. ASK-Swanson (Kunshan) Co., Ltd. ACME Ferrite Product Sdn. Bhd.	Swanson Plastics (India) Private Ltd. PT Swanson Plastics Indonesia PT Swanson Plastics Indonesia Swanson Plastics (Malaysia) Sdn. Bhd. Swanson Plastics (Malaysia) Sdn. Bhd. PT Swanson Plastics Indonesia PT Swanson Plastics Indonesia ASK-Swanson (Kunshan) Co., Ltd. ASK-Swanson (Kunshan) Co., Ltd. Swanson Plastics (Tainjin) Co., Ltd. Acme Electronics (Guangzhou) Co., Ltd.	3 3 3 3 3 3 3 3 3 3 3	Sales revenue Accounts receivable Sales revenue Cost of goods sold Accounts payable Accounts receivable Cost of goods sold Sales revenue Accounts receivable Other receivables Cost of goods sold	$ 46,945 12,057 117,680 201,859 26,575 28,895 52,445 141,235 17,978 183,995 62,924	No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference No significant difference	0.09% 0.02% 0.23% 0.40% 0.03% 0.04% 0.10% 0.28% 0.02% 0.24% 0.13%

Note 1: The information about the transactions between the Company and the subsidiaries should be marked in the note column a s follows:
a. The Company: 0.
b. The subsidiaries were marked from 1 in order of numeric characters by the companies.
Note 2: Investment types are as follows:
a. The Company to the subsidiaries.
b. The subsidiaries to the Company.
c. Between subsidiaries.
Note 3: All the transactions were fully eliminated upon preparation of the consolidated financial statements.
Note 4: The ratio of transaction amounts accounted for total sales revenue or assets is calculated as follows: (1) asset or liability: The ratio w as calculated based on the ending balance accounted for total consolidated assets; (2) income or loss: The ratio was calculated bas ed on the midterm accumulated amounts accounted for total consolidated sales revenue.
Note 5: TAITA (ZS) agreed to waive the capital and interest of the loan to TAITA(TJ) of RMB 15,000 thousand , therefore recognized credit impairment losses of 67,876 thousand.
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USI CORPORATION AND SUBSIDIARIES

INFORMATION ON INVESTMENTS IN MAINLAND CHINA, EITHER DIRECTLY OR INDIRECTLY THROUGH A THIRD PARTY, AND THEIR PRICES, PAYMENT TERMS, AND UNREALIZED GAINS OR LOSSES

YEAR 2020

TABLE 10

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Investee Company	Financial Statement Account	Amount	Percentage (`％`)	Price	Transaction Details	Transaction Details	Notes/Accounts Receivable (Payable)	Notes/Accounts Receivable (Payable)	Unrealized Gains or Losses	Note
					Payment Terms	Compared to General Transactions	Amount	Percentage (`％`)
USI (Hong Kong) Company Limited USI Trading (Shanghai) Co., Ltd. Dynamic Ever Investments Limited	Sales revenue Sales revenue Commission expense Management service revenue Other income Other receivables from related parties	$ 119,902 118,766 513 19,790 256 5,231	1.87 1.17 - - - -	No significant difference `－` `－` `－` `－` `－`	Within 60 days after selling on credit Within 60 days after selling on credit `－` `－` `－` `－`	No significant difference No significant difference `－` `－` `－` `－`	$ 24,644 33,203 - - - -	2.74 3.69 - - - -	$ - - - - - -	`－` `－` `－` `－` `－` `－`

Note: All the transactions were fully eliminated upon preparation of the consolidated financial statements.

186 -

USI CORPORATION AND SUBSIDIARIES

(Asia Polymer Corporation (APC))

INFORMATION ON INVESTMENTS IN MAINLAND CHINA, EITHER DIRECTLY OR INDIRECTLY THROUGH A THIRD PARTY, AND THEIR PRICES, PAYMENT TERMS, AND UNREALIZED GAINS OR LOSSES

YEAR 2020

TABLE 10-1

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

Investee Company	Financial Statement Account	Amount	Percentag e (`％`)	Price	Transaction Details	Transaction Details	Notes/Accounts Receivable (Payable)	Notes/Accounts Receivable (Payable)	Unrealized Gains or Losses	Note
					Payment Terms	Compared to General Transactions	Amount	Percentag e (`％`)
USI Trading (Shanghai) Co., Ltd.	Sales revenue Commission expenses Non-operating income and expense - rental income Management services expense Other payables Other receivables	$ 63,613 804 1,490 124 990 7,914	1.12 - - - - -	No significant difference `－` `－` `－` `－` `－`	Within 90 days after selling on credit `－` `－` `－` `－` `－`	No significant difference `－` `－` `－` `－` `－`	$ 12,462 - - - - -	1.68 - - - - -	$ - - - - - -	`－` `－` `－` `－` `－` `－`

Note: All the transactions were fully eliminated upon preparation of the consolidated fi nancial statements.

187 -

USI CORPORATION

INFORMATION ON MAJOR SHAREHOLDERS

DECEMBER 31, 2020

TABLE 11

N a m e o f m a j o r s h a r e h o l d e r	S h a r e s	S h a r e s
	Number of Shares	Percentage of Ownership (%)
Shing Lee Enterprise (Hong Kong) Limited Wholegainer Company Limited’s trust account under custody of Fubon Securities Co., Ltd. Asia Polymer Corporation	173,776,546 110,000,000 101,355,673	14.61 9.25 8.52

Note 1: The table discloses shareholding information of shareholders whose shareholding percentage is more than 5%. The Taiwan Depository & Clearing Corporation (TDCC) calculates the total number of ordinary shares and special shares (including treasury shares) that have completed the dematerialized registration and delivery on the last business day of the quarter. The share capital reported in the Company’s consolidated financial statements and the actual number of shares that have completed the dematerialized registration and delivery may be different due to difference in the basis of calculation.
Note 2: In the event where the shareholder delivers its equity to trust, the information is disclosed in the form of individual trust accounts opened by the trustee. As for shareholders declaring insider equity holdings of more than 10% of the shares in accordance with the Securities and Exchange Act, their shareholdings include the shares held by themselves plus the shares delivered to trust while retaining the right to determine the utilization. For information on insider equity declarations, please refer to the Market Observation Post System.
188 -

AI assistant

USI — Annual Report 2020

51764_rns_2020-11-13_715a50e5-01ae-420b-97d2-efd2f90feaae.pdf

USI CORPORATION AND SUBSIDIARIES

§Table of Content§

DECLARATION OF CONSOLIDATION OF FINANCIAL STATEMENTS of AFFILIATES

Independent Auditors’ Report

TO USI Corporation

Opinion

Basis for Opinion

Other Matters

Notice to Readers

USI CO RPO RATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

USI CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Years Ended December 31, 2020 and 2019

USI C ORP ORAT I O N AND SUB SI D IAR IE S CON SOL ID AT E D ST AT E M E NT S OF C HA NG E S I N E QUIT Y Fo r t h e Yea r s E n d ed D ecem ber 3 1 , 2 0 20 a n d 2 0 19

USI CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

1. GENERAL INFORMATION

2. APPROVAL OF FINANCIAL STATEMENTS

3. APPLICATION OF NEW, AMENDED AND REVISED STANDARDS

AND INTERPRETATIONS

c.

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

d. Basis of consolidation

i. Investment properties

j.

Goodwill

m. Financial instruments

ii. Financial assets at amortized cost

c) Derecognition of financial assets

2) Equity Tool

3) Financial liabilities

b) Derecognition of financial liabilities

o. Revenue recognition

p. Discontinued operations

distinguished from the rest of the entity.

q. Leasing

2) The Group as Lessee

s.

2) Retirement benefits

5. CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF

ESTIMATION UNCERTAINTY

Key Sources of Estimation Uncertainty

b. Inventory Impairment

c. Impariment evaluation of properties, plant and equipment

6. CASH AND CASH EQUIVALENTS

8. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

9. FINANCIAL ASSETS MEASURED AT AMORTIZED COST

10. NOTES RECEIVABLE, ACCOUNTS RECEIVABLE AND OTHER

RECEIVABLES

a. Notes and accounts receivable

Based on the number of overdue days

Based on credit quality

December 31, 2019

Based on the number of overdue days

Based on credit quality

b. Other receivables

11. INVENTORIES

12. DISCONTINUED OPERATIONS

13. SUBSIDIARIES

a. Subsidiaries included in the consolidated financial statements:

CGPC and CGPC’ s subsidiaries

TTC and TTC’s subsidiaries

ACME and ACME’s subsidiaries

APC and APC’s subsidiaries

EVGL and EVGL’s subsidiaries

14. INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD

15. PROPERTY, PLANT AND EQUIPMENT

16. LEASE ARRANGEMENTS

a. Right-of-use assets

17. INVESTMENT PROPERTIES

18. GOODWILL AND OTHER INTANGIBLE ASSETS

19. BORROWINGS

20. BONDS PAYABLE

21. NOTES AND ACCOUNTS PAYABLE

22. OTHER PAYABLES

23. PROVISIONS

24. RETIREMENT BENEFIT PLANS

b. Defined benefits plan

USI Annual Report 2020