Stock code : 3021

Welltend Technology Corporation and Subsidiaries

Consolidated Financial Statements With Independent Auditors’ Review Report

For the Six Months Ended
June 30, 2025, and 2024

Company address: 6F, No. 59, Dongxing Road, Taipei City
Tel: (02) 8768-2688

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Item	Page
I. Cover Page	1
II. Table of Contents	2
III. Independent Auditors' Review Report	3
IV. Consolidated Balance Sheet	4
V. Consolidated Statement of Comprehensive Income	5
VI. Consolidated Statement of Changes in Equity	6
VII. Consolidated Statement of Cash Flows	7
VIII. Notes to the Consolidated Financial Statements	8
(I) Company history	8
(II) Approval date and procedures of the consolidated financial statements	8
(III) New standards, amendments, and interpretations adopted	8~9
(IV) Summary of significant accounting policies	10~12
(V) Significant accounting assumptions and judgments, and major sources of estimation uncertainty	12
(VI) Explanation of significant accounts	13~35
(VII) Related-party transactions	35~37
(VIII) Pledged assets	37
(IX) Significant commitments and contingencies	38
(X) Losses due to major disasters	38
(XI) Significant subsequent events	38
(XII) Other	38~39
(XIII) Other disclosures	39
1. Information on significant transactions	39~42
2. Information on investees	42~43
3. Information on investment in mainland China	43~44
(XIV) Segment information	44~45

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Independent Auditors' Review Report

To the Board of Directors of Welltend Technology Corporation:

Introduction

We have completed our review of the consolidated balance sheet of Welltend Technology Corporation and its Subsidiaries (Welltend Group) as of June 30, 2025 and 2024, and the consolidated statement of comprehensive income, consolidated statement of changes in equity, and consolidated statement of cash flows for the six months ended June 30, 2025 and 2024, as well as the notes to the consolidated financial statements (including a summary of significant accounting policies). Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, "Interim Financial Reporting" as endorsed and became effective by Financial Supervisory Commission of the Republic of China. Our responsibility is to express a conclusion on these consolidated financial statements based on our reviews.

Scope of Review

Except as explained in the following paragraph, we conducted our reviews in accordance with TWSRE 2410 "Review of Financial Information" performed by the Independent Auditor. A review of consolidated financial statements consists of making inquiries (primarily of persons responsible for financial and accounting matters), and applying analytical and other review procedures. A review is substantially less in scope than audit conducted in accordance with auditing standards generally accepted in the Republic of China and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Basis for Qualified Conclusion

As explained in Note 4(2), the financial statements of certain insignificant subsidiaries were not reviewed by independent accountants. Those reflected total assets of NT$ 252,348 thousand and NT$ 86,668 thousand, constituting 8% and 3% of the consolidated total assets, and total liabilities of NT$ 46,296 thousand and NT$ 3,044 thousand, constituting 3% and 0% of the consolidated total liabilities as of June 30, 2025 and 2024, respectively; and total comprehensive income (loss) of NT$ (13,511) thousand, NT$ 9,254 thousand, NT$ (9,061) thousand and NT$ 13,240 thousand, constituting 7%, 37%, 5% and 15% of the consolidated total comprehensive income (loss) for the three months and the six months ended 30 June 2025 and 2024, respectively.

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Qualified Conclusion

Based on our reviews, except for the effect of such adjustments, if any, as might have been determined to be necessary had the financial statements of certain joint ventures accounted for using equity method been reviewed by independent accountants, nothing has come to our attention that causes us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of the Company and its subsidiaries as at June 30, 2025 and 2024, and their consolidated financial performance for three months and the six months ended 30 June 2025 and 2024, as well as its consolidated cash flows for six months ended 30 June 2025 and 2024, in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, "Interim Financial Reporting" as endorsed and became effective by Financial Supervisory Commission of the Republic of China.

Independent Accountants

KPMG
Taipei, Taiwan (Republic of China)
August 12, 2025

Notes to Readers

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

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

Welltend Technology Corporation and Subsidiaries

Consolidated Balance Sheet

30 June 2025, 31 December 2024 and 30 June 2024

Unit: NT$ thousand

Assets	2025.6.30		2024.12.31		2024.6.30		Liabilities and equity		2025.6.30		2024.12.31		2024.6.30
		Amount	%	Amount	%	Amount	%	Amount	%	Amount	%	Amount	%	Amount	%
Current assets:								Current liabilities:
1100	Cash and cash equivalents (Note 6 (1))	$ 854,468	28	946,019	30	935,809	30	2100	Short-term borrowings (Notes 6 (8), 7 and 8)	$ 748,000	25	698,000	22	730,000	24
1170	Net notes and accounts receivable	711,064	24	829,391	26	910,933	29	2130	Current contract liabilities (Note 6 (15))	17,893	-	39,666	1	17,938	-
	(Notes 6 (2) and 6 (15))							2170	Notes and accounts payable	393,619	13	457,762	14	458,298	14
1300	Net inventories (Note 6 (3))	577,423	19	608,764	19	583,058	19	2170	Other payables (Notes 6 (9) and 7)	135,666	5	145,314	5	125,756	4
1470	Other current assets (Note 6 (4) and 6 (15))	102,538	4	78,140	3	63,877	2	2200	Dividends payable (Notes 6 (13)	28,767	1	-	-	28,767	1
1476	Other financial assets - current (Note 6 (1), 6 (4), and 8)	66,208	2	98,273	3	62,812	2	2216	Current Tax Liabilities	17,632	-	34,172	1	31,147	1
		2,311,701	77	2,560,587	81	2,556,489	82	2280	Current lease liabilities (Notes 6 (10) and 7)	27,267	1	13,387	-	22,450	1
Non-current assets:								2300	Other current liabilities	23,441	1	28,620	1	21,809	1
1600	Property, plant, and equipment (Notes 6 (6) and 8)	404,003	13	416,867	13	407,117	13			1,392,285	46	1,416,921	44	1,436,165	46
1755	Right-of-use assets (Notes 6 (7) and 7)	109,572	4	37,297	1	45,759	2
1780	Intangible assets	45,296	2	41,884	1	43,382	1
1840	Deferred tax assets	8,929	-	8,804	-	3,294	-
1900	Other non-current assets (Note 6 (4), 6 (5), 6 (6), 7, and 8)	131,067	4	106,988	4	49,584	2
		698,867	23	611,840	19	549,136	18
								3100	Capital stock	958,900	32	958,900	30	958,900	31
								3200	Additional paid-in capital	7,675	-	7,525	-	7,525	-
								3300	Retained earnings (Note 12 (3))	692,922	23	718,389	23	705,796	23
								3400	Other equity	(220,189)	(8)	(52,336)	(1)	(86,918)	(3)
								3500	Treasury shares	(12,410)	-	-	-	-	-
										1,426,898	47	1,632,478	52	1,585,303	51
								36XX	Non-controlling interests	50,390	2	42,262	1	5,164	-
									Total equity	1,477,288	49	1,674,740	53	1,590,467	51
									Total liabilities and equity	$ 3,010,568	100	3,172,427	100	3,105,625	100

Total assets

$ 3,010,568 100 3,172,427 100 3,105,625 100

(Please refer to the attached notes to the parent company only financial statements)

Chairman: Yun-Teng Chang

Manager: Jia-Xiang Lin

Accounting Supervisor: Wen-Pin Chen

Welltend Technology Corporation and Subsidiaries

Consolidated Statement of Comprehensive Income

For the three months and the six months ended 30 June 2025 and 2024

Unit: NT$ thousand

	For the three months ended 30 June				For the six months ended 30 June
		2025		2024		2025		2024
		Amount	%	Amount	%	Amount	%	Amount	%
4110	Operating revenue (Note 6 (15))	$ 818,958	100	859,708	100	1,526,277	100	1,613,047	100
5110	Operating costs (Notes 6 (3), 6 (10), 6 (11), 7 and 12 (1))	690,707	84	705,689	82	1,296,407	85	1,330,094	83
5910	Operating margin	128,251	16	154,019	18	229,870	15	282,953	17
	Operating expenses (Notes 6 (10), 6 (11), 6 (16), 7, and 12 (1))
6100	Marketing expenses	38,424	5	32,910	4	73,587	5	66,152	4
6200	Management expenses	56,696	7	59,722	7	117,972	7	115,521	7
6450	Expected credit gain (Note 6 (2))	(2,260)	-	(400)	-	(1,777)	-	(4,864)	-
		92,860	12	92,232	11	189,782	12	176,809	11
6900	Operating profit	35,391	4	61,787	7	40,088	3	106,144	6
	Non-operating income and expenses:
7010	Other income	3,315	-	575	-	6,645	-	1,087	-
7100	Interest income	2,608	-	4,132	-	5,631	-	7,532	-
7230	Net foreign currency exchange (loss) gain (Note 6 (17))	(12,841)	(2)	6,843	1	(13,243)	(1)	9,596	1
7510	Interest expense (Notes 6 (10) and 7)	(3,878)	-	(3,277)	-	(7,690)	-	(6,340)	-
7590	Sundry expenses (Notes 12 (3))	(5,187)	-	(18,074)	(2)	(7,114)	-	(22,460)	(1)
		(15,983)	(2)	(9,801)	(1)	(15,771)	(1)	(10,585)	-
7900	Net profit before tax	19,408	2	51,986	6	24,317	2	95,559	6
7950	Less: Income tax expense (Note 6 (12))	10,258	1	36,117	4	22,180	2	52,596	3
	Net profit for the period	9,150	1	15,869	2	2,137	-	42,963	3
8300	Other comprehensive income:
8360	Components of other comprehensive income subsequently reclassified to profit or loss
8361	Exchange differences on translation of foreign financial statements	(205,078)	(25)	8,976	1	(169,906)	(11)	45,615	3
8399	Less: Income tax related to components of other comprehensive income that will be reclassified to profit or loss	-	-	-	-	-	-	-	-
	Total Components of other comprehensive income subsequently reclassified to profit or loss	(205,078)	(25)	8,976	1	(169,906)	(11)	45,615	3
8300	Other comprehensive income for the period	(205,078)	(25)	8,976	1	(169,906)	(11)	45,615	3
	Total comprehensive income for the period	$ (195,928)	(24)	24,845	3	(167,769)	(11)	88,578	6
	Net profit for the period attributable to:
8610	Owners of parent	$ 9,022	1	15,822	2	3,300	-	42,892	3
8620	Non-controlling interests	128	-	47	-	(1,163)	-	71	-
		$ 9,150	1	15,869	2	2,137	-	42,963	3
Comprehensive income attributable to:
8710	Owners of parent	$ (193,329)	(24)	24,798	3	(164,553)	(11)	88,507	6
8720	Non-controlling interests	(2,599)	-	47	-	(3,216)	-	71	-
		$ (195,928)	(24)	24,845	3	(167,769)	(11)	88,578	6
Earnings per share (Note 6 (14))
9750	Basic earnings per share (Unit: NT$)	$ 0.09		0.17		0.03		0.45
9850	Diluted earnings per share (Unit: NT$)	$ 0.09		0.16		0.03		0.45

(Please refer to the attached notes to the parent company only financial statements)

Chairman: Yun-Teng Chang

Manager: Jia-Xiang Lin

Accounting Supervisor: Wen-Pin Chen

Welltend Technology Corporation and Subsidiaries

Consolidated Statement of Changes in Equity

For the six months ended 30 June 2025 and 2024

Unit: NT$ thousand

	Retained earnings						Other equity			Total equity attributable to owners of the parent company	Non-controlling interests
	Share capital from common stock	Additional paid-in capital	Legal reserve	Special reserve	Undistributed surplus earnings	Total	Exchange differences on translation of foreign financial statements	Treasury shares
Balance on January 1, 2024	$ 958,900	7,525	112,009	120,028	459,634	691,671	(132,533)	-	1,525,563	202	1,525,765
Earnings allocation and distribution:
Legal reserve appropriated	-	-	12,606	-	(12,606)	-	-	-	-	-	-
Special reserve appropriated	-	-	-	12,505	(12,505)	-	-	-	-	-	-
Common stock cash dividend	-	-	-	-	(28,767)	(28,767)	-	-	(28,767)	-	(28,767)
	-	-	12,606	12,505	(53,878)	(28,767)	-	-	(28,767)	-	(28,767)
Net profit for the period	-	-	-	-	42,892	42,892	-	-	42,892	71	42,963
Other comprehensive income for the period	-	-	-	-	-	-	45,615	-	45,615	-	45,615
Total comprehensive income for the period	-	-	-	-	42,892	42,892	45,615	-	88,507	71	88,578
Change in non-controlling interests	-	-	-	-	-	-	-	-	-	4,900	4,900
Common stock cash dividend of non-controlling interests	-	-	-	-	-	-	-	-	-	(9)	(9)
Balance on June 30, 2024	$ 958,900	7,525	124,615	132,533	448,648	705,796	(86,918)	-	1,585,303	5,164	1,590,467
Balance on January 1, 2025	$ 958,900	7,525	124,615	132,533	461,241	718,389	(52,336)	-	1,632,478	42,262	1,674,740
Earnings allocation and distribution:
Legal reserve appropriated	-	-	4,638	-	(4,638)	-	-	-	-	-	-
Special reserve appropriated	-	-	-	(80,197)	80,197	-	-	-	-	-	-
Common stock cash dividend	-	-	-	-	(28,767)	(28,767)	-	-	(28,767)	-	(28,767)
	-	-	4,638	(80,197)	46,792	(28,767)	-	-	(28,767)	-	(28,767)
Net profit for the period	-	-	-	-	3,300	3,300	-	-	3,300	(1,163)	2,137
Other comprehensive income for the period	-	-	-	-	-	-	(167,853)	-	(167,853)	(2,053)	(169,906)
Total comprehensive income for the period	-	-	-	-	3,300	3,300	(167,853)	-	(164,553)	(3,216)	(167,769)
Treasury Stock Acquired	-	-	-	-	-	-	-	(12,410)	(12,410)	-	(12,410)
The difference between the actual price of equity acquired or disposed of by the subsidiary and the book value	-	150	-	-	-	-	-	-	150	(150)	-
Change in non-controlling interests	-	-	-	-	-	-	-	-	-	11,494	11,494
Balance on June 30, 2025	$ 958,900	7,675	129,253	52,336	511,333	692,922	(220,189)	(12,410)	1,426,898	50,390	1,477,288

(Please refer to the attached notes to the parent company only financial statements)

Chairman: Yun-Teng Chang

Manager: Jia-Xiang Lin

Accounting Supervisor: Wen-Pin Chen

Welltend Technology Corporation and Subsidiaries

Consolidated Statement of Cash Flows

For the six months periods ended 30 June 2025 and 2024

Unit: NT$ thousand

	For the six months periods ended 30 June
	2025	2024
Cash flows from operating activities:
Net profit before tax for the period	$ 24,317	95,559
Adjustments:
Adjustments to reconcile profit (loss)
Depreciation expense	36,830	40,037
Amortization expense	1,158	1,522
Expected credit gain	(1,777)	(4,864)
Interest expense	7,690	6,340
Interest income	(5,631)	(7,532)
Other items	2,938	(33)
Total adjustments to reconcile profit (loss)	41,208	35,470
Changes in assets and liabilities related to operating activities:
Net changes in assets related to operating activities, net:
Notes and accounts receivable	121,340	(82,211)
Inventories	31,341	19,354
Other current assets	(25,408)	(1,768)
Other financial assets	89	153
Total net changes in assets related to operating activities	127,362	(64,472)
Changes in liabilities related to operating activities, net:
Contract liabilities	(21,773)	(8,436)
Notes and accounts payable	(64,143)	85,694
Other payables	(9,324)	(9,626)
Other current liabilities	(5,179)	632
Other liabilities related to operating activities	(100,419)	68,264
Net changes in assets and liabilities related to operating activities	26,943	3,792
Total adjustments	68,151	39,262
Cash inflow generated from operations	92,468	134,821
Interest received	5,861	8,180
Interest paid	(8,014)	(6,506)
Income tax paid	(28,420)	(68,581)
Net cash inflow from operating activities	61,895	67,914
Cash flows from investing activities:
Acquisition of property, plant, and equipment	(26,713)	(7,835)
Proceeds from disposal of property, plant, and equipment	222	39
Increase in refundable deposits	(3,417)	(5,731)
Acquisition of intangible assets	(4,570)	(996)
Other financial assets	36,676	(10,200)
Other non-current assets	(25,592)	89
Net cash outflows from investing activities	(23,394)	(24,634)
Cash flows from financing activities:
Increase in Short-term borrowings	50,000	34,000
Repayment of lease liability principal	(15,722)	(16,317)
Other non-current liabilities	-	52
Treasury Stock Acquired	(12,410)	-
Changes in non-controlling interests	11,494	4,900
Net cash inflows from financing activities	33,362	22,635
Effect of exchange rate changes on cash and cash equivalents	(163,414)	42,534
Net (Decrease) increase in cash and cash equivalents for the period	(91,551)	108,449
Cash and cash equivalents at start of period	946,019	827,360
Cash and cash equivalents at end of period	$ 854,468	935,809

(Please refer to the attached notes to the parent company only financial statements)

Chairman: Yun-Teng Chang
Manager: Jia-Xiang Lin
Accounting Supervisor: Wen-Pin Chen

Welltend Technology Corporation and Subsidiaries
Notes to the Consolidated Financial Statements
For the six months periods ended 30 June 2025 and 2024
(Amounts in Thousands of New Taiwan Dollars unless Specified Otherwise)

I. Company history

Welltend Technology Corporation ("the Company") was established in June 1993. Its main businesses are the sale of wires and connectors and the integrated planning and implementation of information systems and consulting services. The composition of the Company's consolidated financial statements includes the Company and subsidiaries of the Company (hereinafter collectively referred to as "the Group"). Please refer to Note IV (II) for an explanation of the main businesses of the Group.

II. Approval date and procedures of the consolidated financial statements

The consolidated financial statements were authorized for issuance by the Board of Directors on August 12, 2025.

III. New standards, amendments and interpretations adopted

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

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

Amendments to IAS21 "Lack of Exchangeability"

(II) The impact of IFRS endorsed by the FSC but not yet effective

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

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

(III) The impact of IFRS Accounting Standards issued by IASB but not yet endorsed by the FSC

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

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Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

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

• A more structured income statement: under current standards, companies use different formats to present their results, making it difficult for investors to compare financial performance across companies. The new standard promotes a more structured income statement, introducing a newly defined ‘operating profit’ subtotal and a requirement for all income and expenses to be allocated between three new distinct categories based on a company’s main business activities.
• Management performance measures (MPMs): the new standard introduces a definition for management performance measures, and requires companies to explain in a single note to the financial statements why the measure provides useful information, how it is calculated and reconcile it to an amount determined under IFRS Accounting Standards.
• Greater disaggregation of information: the new standard includes enhanced guidance on how companies group information in the financial statements. This includes guidance on whether information is included in the primary financial statements or is further disaggregated in the notes. | January 1, 2024 |

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

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

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

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Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

IV. Summary of significant accounting policies

(I) Statement of compliance

These consolidated financial statements have been prepared in accordance with the preparation and guidelines of IAS 34 “Interim Financial Reporting” which are endorsed and issued into effect by FSC, and do not include all of the information required by the Regulations and International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations and SIC Interpretations endorsed and issued into effect by the FSC (hereinafter referred to IFRS endorsed by the FSC) for a complete set of the annual consolidated financial statements.

Except the following accounting policies mentioned below, the significant accounting policies adopted in the consolidated financial statements are the same as those in the consolidated financial statement for the year ended December 31, 2024. For the related information, please refer to Note 4 of the consolidated financial statements for the year ended December 31, 2024.

(II) Basis of consolidation

The basis for preparation of these consolidated financial statements is consistent with these for the preparation of these consolidated financial statements for the year ended December 31, 2024, the related information refers to the Note 4.

Subsidiaries included in these consolidated financial statements include:

Investing company name	Subsidiary name	Nature of business	Shareholding ratio			Note
			June 30, 2025	December 31, 2024	June 30, 2024
The Company	A-Team Tech Inc. (A-Team)	Investment, trading, and holding company	100.00%	100.00%	100.00%	Note 1
The Company	JIUN TAI CORPORATION LIMITED (JIUN TAI)	Holding company	100.00%	100.00%	100.00%
The Company	CELERAISE ELECTRONIC CORPORATION (CELERAISE)	Manufacturing and Sales of Wire and Cable Connectors and Terminals	100.00%	100.00%	100.00%	Note 2
The Company	CELERAISE (THAILAND) Co., Ltd. (THAILAND)	Manufacturing and Sales of Wire and Cable Connectors and Terminals	100.00%	100.00%	100.00%	Note 3
The Company	KING HONG Co., Ltd. (KING HONG)	International Trade, Electronic Materials, and Electrical Appliances Trading Business	51.00%	51.00%	-%	Note 1 - 4

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Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

Investing company name	Subsidiary name	Nature of business	Shareholding ratio			Note
			June 30, 2025	December 31, 2024	June 30, 2024
The Company	HONG YI CABLE CO., LTD. (HONG YI)	Investment, International Trade, and Trading of Electronic Materials and Electrical Appliances	52.00%	52.00%	-%	Note 1 - 6
The Company and JIUN TAI	Celeraise Investments Limited (Celeraise Hong Kong)	Manufacturing and Sales of Wire and Cable Connectors and Terminals	100.00%	100.00%	100.00%
The Company	Leadpak Industrial Co., Ltd. (Leadpak Industrial)	International Trade and Other Wholesale and Retail Businesses	100.00%	99.36%	99.36%	Note 1 - 7
The Company	Celeraise Technology Corporation (Celeraise Technology)	Automatic Control Equipment Engineering, Computer Equipment Installation, etc.	100.00%	100.00%	100.00%
A-Team	Min Shi Computer Technology (Shanghai) Co., Ltd. (Shanghai Min Shi)	Research and Development and Production of Industrial Automation Control, Product Quality Control, Communication, and Electronic Network Computer Software	100.00%	100.00%	100.00%	Note 1
JIUN TAI	Shanghai Zhan Sheng Electronics Co., Ltd. (Shanghai Zhan Sheng)	Manufacture of electronic and wire connectors, telephone parts, and small household appliances, and sales of the Company's own products	100.00%	100.00%	100.00%
JIUN TAI	Welltrend Technology Co., Ltd. (Welltrend)	Manufacturing and Sales of Wire and Cable Connectors and Terminals	80.00%	-%	-%	Note 1 - 5
Celeraise Hong Kong	Yield Profit International Enterprise Limited (Yield Profit International)	Investment, trading, and holding company	100.00%	100.00%	100.00%
Celeraise Hong Kong	Jet Success Technology Development Limited (Jet Success)	Investment, trading, and holding company	100.00%	100.00%	100.00%
Celeraise Hong Kong	Shenzhen Zhan Sheng Electric Power Co., Ltd. (Shenzhen Zhan Sheng)	Manufacturing and Sales of Wire and Cable Connectors and Terminals	100.00%	100.00%	100.00%
Yield Profit International	Zhan Mao Electronics Enterprise (Huizhou) Co., Ltd. (Huizhou Zhan Mao)	Manufacturing and Sales of Wire and Cable Connectors and Terminals	100.00%	100.00%	100.00%
Jet Success	Kunshan Yiguan Electronic Technology Co., Ltd. (Kunshan Yi Guan)	Manufacturing and Sales of Wire and Cable Connectors and Terminals	100.00%	100.00%	100.00%

~11~

~12~

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

Note1: This subsidiary is considered non-material, and its financial statements have not been reviewed by independent auditors.
Note2: CELRAISE was established in March 2015, 0.01% of the equity acquired in CELERAISE is held in the name of third party considering the relevant regulations of Philippines.
Note3: THAILAND was established in June 2017, 0.01% of the equity acquired in THAILAND is held in the name of third party considering the relevant regulations of Thailand.
Note4: KING HONG was established in April 2024.
Note5: Welltrend was established in July 2024.
Note6: HONG YI was established in November 2024.
Note7: The Company purchased all the shares of Leadpak Industrial from the non-controlling interests in February 2025, increasing its shareholding to 100%.

(III) Income taxes

The income tax expenses have been prepared and disclosed in accordance with paragraph B12 of International Financial Reporting Standards 34, Interim Reporting.

Income tax expenses for the period are best estimated by multiplying pre-tax income for the interim reporting period using the effective annual tax rate as forecasted by the management. This should be recognized fully as tax expense for the current period (and allocated to current and deferred taxes based on its proportionate size).

Temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their respective tax bases shall be measured based on the tax rates that have been enacted or substantively enacted at the time of the asset or liability is recovered or settled and be recognized directly in equity or other comprehensive income as tax expense.

V. Significant accounting assumptions and judgments, and major sources of estimation uncertainty

The preparation of the consolidated financial statements in conformity with the Regulations and IFRSs (in accordance with IAS 34 "Interim Financial Reporting" and endorsed by the FSC) requires management to make judgments and estimates about the future, including climate-related risks and opportunities, and assumptions that affect the application of the accounting policies and the reported amount of assets, liabilities, income and expenses. Actual results may differ from these estimates.

The preparation of the consolidated interim financial statements, estimates and underlying assumptions are reviewed on an ongoing basis which are in conformity with the consolidated financial statements for the year ended December 31, 2024. For related information, please refer to Note 5 of the consolidated financial statements for the year ended December 31, 2024.

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

VI. Explanation of significant accounts

Except for the following disclosures, there were no material differences in the disclosures of significant accounts between the interim consolidated financial statements for the current period and the 2024 consolidated financial statements. Please refer to Note 6 to the 2024 annual consolidated financial statements.

(I) Cash and cash equivalents

| | June
30, 2025 | December
31, 2024 | June
30, 2024 |
| --- | --- | --- | --- |
| Cash on hand | $ 1,273 | 1,447 | 765 |
| Checks and demand deposits | 702,323 | 653,886 | 643,846 |
| Time deposits | 150,872 | 290,686 | 291,198 |
| | $ 845,468 | 946,019 | 935,809 |

As of June 30, 2025 and December 31, 2024, time deposits with original maturities exceeding three months held by the Group amounted to NT$ 20,451 thousand and NT$ 44,788 thousand, respectively, and are presented under other financial assets—current.

Details of the Group's financial assets and liabilities related to interest rate risk, foreign currency risk, and sensitivity analysis are disclosed in Note 6(17).

(II) Notes and accounts receivable

| | June
30, 2025 | December
31, 2024 | June
30, 2024 |
| --- | --- | --- | --- |
| Notes receivable | $ 4,539 | 1,028 | 1,920 |
| Accounts receivable | 720,291 | 848,113 | 928,274 |
| | 724,830 | 849,141 | 930,194 |
| Less: Loss allowance | (13,766) | (19,750) | (19,261) |
| | $ 711,064 | 829,391 | 910,933 |

The Group uses a simplified approach to estimate expected credit losses for all notes and accounts receivable; i.e., they are measured by lifetime expected credit losses. For measurement purpose, these notes and accounts receivable are grouped by common credit risk characteristics that represent the customer's ability to pay all amounts due in accordance with the contractual terms. Forward-looking information such as historical credit loss experience and reasonable forecast of future economic conditions has been incorporated. Analysis of the expected credit loss of the notes receivable and accounts receivable of the Group is as follows:

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

Credit rating	June 30, 2025
	Carrying number of notes and accounts receivable	Weighted average expected credit loss ratio	Allowance for lifetime expected credit losses
Level A	$ 708,524	-%	-
Level B	16,306	84.42%	13,766
	$ 724,830		13,766
Credit rating	December 31, 2024
---	---	---	---
	Carrying number of notes and accounts receivable	Weighted average expected credit loss ratio	Allowance for lifetime expected credit losses
Level A	$ 823,199	0.14%	1,162
Level B	25,942	71.65%	18,588
	$ 849,141		19,750
Credit rating	June 30, 2024
---	---	---	---
	Carrying number of notes and accounts receivable	Weighted average expected credit loss ratio	Allowance for lifetime expected credit losses
Level A	$ 893,500	-%	-
Level B	36,694	52.49%	19,261
	$ 930,194		19,261

Aging analysis of the Group's notes and accounts receivable is as follows:

	June 30, 2025	December 31, 2024	June 30, 2024
Not yet past due	$ 666,675	758,839	842,602
0 to 90 days past due	38,150	60,870	46,895
90 to 180 days past due	3,918	9,176	8,229
More than 180 days past due	16,087	20,256	32,468
	$ 724,830	849,141	930,194

Changes in the Group's loss allowance for notes receivable and accounts receivable were as follows:

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

	For the six months periods ended 30 June
	2025	2024
Opening balance at start of period	$ 19,750	29,549
Impairment losses reversed	(1,777)	(4,864)
Amounts written off	(2,971)	(5,552)
Foreign exchange (losses)/ gains	(1,236)	128
Balance at end of period	$ 13,766	19,261

Loss allowance is mainly based on historical payment behavior and extensive analysis of the credit ratings of the target customers. The Group believes that the overdue portion of accounts receivable for which loss allowance has not yet been provided is still recoverable.

As of June 30, 2025, December 31, 2024, and June 30, 2024, the Group's notes and accounts receivable were not pledged as collateral.

For the Group, please refer to Note 6(17) for the foreign exchange risk and sensitivity analysis of notes and accounts receivable for the periods from January 1 to June 30, 2025 and 2024.

(III) Inventories

	June 30, 2025	December 31, 2024	June 30, 2024
Raw materials	$ 339,279	343,857	326,273
Works in process	79,437	75,968	83,619
Finished goods	86,065	75,116	60,698
Goods held for sale	72,642	113,823	112,468
	$ 577,423	608,764	583,058

For the Group, the inventory costs and other operating costs recognized as cost of goods sold and expenses for the periods from April 1 to June 30, 2025 and 2024, and from January 1 to June 30, 2025 and 2024, were NT$ 687,719 thousand, NT$ 710,641 thousand, NT$ 1,280,526 thousand, and NT$ 1,334,614 thousand, respectively
For the Group, the inventory write-downs to net realizable value recognized as inventory impairment losses amounted to NT$ 2,988 thousand and NT$ 15,881 thousand for the periods from April 1 to June 30, 2025 and from January 1 to June 30, 2025, respectively, and have been included in cost of goods sold.
For the period from April 1 to June 30 and from January 1 to June 30, 2024, the Group reversed inventory write-downs and obsolescence losses of NT$ 4,952 thousand and NT$ 4,520 thousand, respectively, due to the sale of

~15~

~16~

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

slow-moving inventory which caused the net realizable value of inventory to recover. These amounts have been recognized in cost of goods sold.

As of June 30, 2025, December 31, 2024, and June 30, 2024, the Group's inventories were not pledged as collateral.

(IV) Other Current and Non-current Assets

The details of the other current and non-current assets of the consolidated company are as follows:

Other current assets

	June 30, 2025	December 31, 2024	June 30, 2024
Tax balance carried forward	$ 43,512	42,251	41,021
Prepaid expense	14,171	17,025	10,303
Contract assets and others	44,855	18,864	12,553
	$ 102,538	78,140	63,877

Other financial assets

	June 30, 2024	December 31, 2024	June 30, 2023
Restricted bank deposits	$ 31,610	43,949	45,000
Time deposits with original maturities of more than three months	20,451	44,788	-
Guarantee deposits paid and others	14,147	9,536	17,812
	$ 66,208	98,273	62,812

Other non-current assets

	June 30, 2024	December 31, 2025	June 30, 2024
Guarantee deposits paid	$ 56,537	58,050	46,302
Prepaid equipment	45,844	46,122	260
Prepayment of investment	26,306	-	-
Others	2,380	2,816	3,022
	$ 131,067	106,988	49,584

As of June 30, 2025, the Group's prepaid investment amounted to NT$26,306 thousand. For related information, please refer to Note 6(5).

For the Group's other financial assets' credit risk information as of June 30, 2025, December 31, 2024, and June 30, 2024, please refer to Note 6(17).

~17~

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

(V) Acquisition of subsidiary

1. Acquisition of subsidiary

In order to expand its operations in wires, cable connectors and terminals, and to further develop its market presence in India, the Group, during the first half of 2025, made advance payments amounting to NT$ 26,306 thousand (US$ 809 thousand) to CELERAISE ELECTRONICS INDIA PRIVATE LIMITED ("INDIA") for investment purposes. The amount was recognized under other non-current assets.

The Group intends to participate in the INDIA's 2025 cash capital increase to acquire a 63% equity interest, thereby obtaining control over the investee. As of the reporting date, the statutory registration procedures in the local jurisdiction were still in progress.

(VI) Property, plant, and equipment

The cost, depreciation, and impairment loss of the property, plant and equipment of the Group were as follows:

	Land	Buildings	Machinery and equipment	Office equipment and others	Total
Cost or deemed cost:
Balance on January 1, 2025	$ 208,518	158,124	344,695	162,649	873,986
Add	-	-	19,063	7,650	26,713
Disposal	-	-	(3,284)	(17,359)	(20,643)
Transfers	-	-	(1,859)	(1,076)	(2,935)
Effect of changes in exchange rates	(3,909)	(5,134)	(31,230)	(9,313)	(49,586)
Balance on June 30, 2025	$ 204,609	152,990	327,385	142,551	827,535
Balance on January 1, 2024	$ 204,252	153,332	325,715	161,276	844,575
Add	-	-	5,300	2,535	7,835
Disposal	-	-	(2,753)	(12,293)	(15,046)
Effect of changes in exchange rates	(1,066)	(735)	7,758	1,762	7,719
Balance on June 30, 2024	$ 203,186	152,597	336,020	153,280	845,083
Depreciation:
Balance on January 1, 2025	$ -	62,094	269,397	125,628	457,119
Depreciation	-	2,808	10,125	7,790	20,723
Disposal	-	-	(3,284)	(17,134)	(20,418)
Effect of changes in exchange rates	-	(1,556)	(24,946)	(7,390)	(33,892)
Balance on June 30, 2025	$ -	63,346	251,292	108,894	423,532
Balance on January 1, 2024	$ -	55,707	250,916	116,824	423,447
Depreciation	-	2,739	10,173	11,002	23,914
Disposal	-	-	(2,753)	(12,287)	(15,040)
Effect of changes in exchange rates	-	(195)	4,745	1,095	5,645
Balance on June 30, 2024	$ -	58,251	263,081	116,634	437,966

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

	Land	Buildings	Machinery and equipment	Office equipment and others	Total
Carrying amounts:
Balance on January 1, 2025	$ 208,518	96,030	75,298	37,021	416,867
Balance on June 30, 2025	$ 204,609	89,644	76,093	33,657	404,003
Balance on January 1, 2024	$ 204,252	97,625	74,799	44,452	421,128
Balance on June 30, 2024	$ 203,186	94,346	72,939	36,646	407,117

In August 2024, the consolidated entity entered into a contract with a non-related party to acquire land, buildings, and equipment, with a total contract price of THB$ 121,553 thousand. As of June 30, 2025 and December 31, 2024, advance payments amounted to THB$ 36,280 thousand and THB$ 38,511 thousand, respectively (both representing THB$ 40,000 thousand), and were presented under other non-current assets.

As of June 30, 2025, December 31, 2024, and June 30, 2024, the Group's property, plant and equipment pledged as collateral for borrowings are disclosed in Note 8.

(VII) Right-of-use assets

Details of changes in right-of-use assets recognized as leased premises and buildings, transportation equipment and other assets of the Group, and their cost and depreciation, are as follows:

	Buildings	Transportation equipment and others	Total
Right-of-use asset costs:
Balance on January 1, 2025	$ 108,316	6,858	115,174
Add	96,042	-	96,042
Disposal	(59,252)	-	(59,252)
Effect of changes in exchange rates	(11,094)	(291)	(11,385)
Balance on June 30, 2025	$ 134,012	6,567	140,579
Balance on January 1, 2024	$ 111,053	3,759	114,812
Add	17,379	-	17,379
Disposal	(24,915)	-	(24,915)
Effect of changes in exchange rates	2,324	(45)	2,279
Balance on June 30, 2024	$ 105,841	3,714	109,555
Right-of-use asset depreciation:
Balance on January 1, 2025	$ 75,589	2,288	77,877
Depreciation	15,334	773	16,107
Disposal	(59,252)	-	(59,252)
Effect of changes in exchange rates	(3,564)	(161)	(3,725)
Balance on June 30, 2025	$ 28,107	2,900	31,007

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

	Buildings	Transportation equipment and others	Total
Balance on January 1, 2024	$ 68,901	2,073	70,974
Depreciation	15,614	509	16,123
Disposal	(24,915)	-	(24,915)
Effect of changes in exchange rates	1,637	(23)	1,614
Balance on June 30, 2024	$ 61,237	2,559	63,796
Carrying amounts:
January 1, 2025	$ 32,727	4,570	37,297
June 30, 2025	$ 105,905	3,667	109,572
January 1, 2024	$ 42,152	1,686	43,838
June 30, 2024	$ 44,604	1,155	45,759

In January 2025, the consolidated company entered into a one-year lease agreement for the Kunshan factory with another related party. The expected renewal period is four years, and the total contract value amounts to NT$ 88,104 thousand (RMB$ 21,540 thousand). For details, please refer to Note 7.

As of June 30, 2025, December 31, 2024, and June 30, 2024, the Group's leasing of factories and offices from other related parties is disclosed in Note 7. (VIII) Short-term loans

Details of short-term loans of the Group are as follows:

	June 30, 2025	December 31, 2024	June 30, 2024
Non-Secured bank loans	$ 50,000	198,000	135,000
Secured bank loans	698,000	500,000	595,000
Total	$ 748,000	698,000	730,000
Unused credit line	$ 642,000	516,963	454,125
Interest rate	1.835%~2.25%	1.87%~2.487%	0.50%~2.20%

For information regarding the Group's interest rate, foreign exchange, and liquidity risk exposures and sensitivity analysis, please refer to Note 6(17).
The Group's short-term borrowings and credit facilities are jointly guaranteed by key management personnel. For details, please refer to Note 7.
The consolidated company's short-term borrowings and credit facilities are jointly guaranteed by key management personnel. For details, please refer to Note 7.

~20~

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

(IX) Other payables

Details of Other payables of the Group are as follows:

	June 30, 2025	December 31, 2024	June 30, 2024
Accrued salaries and annual bonuses	$ 79,190	88,017	71,832
Accrued directors’ remuneration and employees’ compensation	4,904	7,290	11,197
Other accrued expenses	51,572	50,007	42,727
	$ 135,666	145,314	125,756

Other accrued expenses mainly consist of accrued labor fees, service fees, labor and health insurance premiums, logistics fees, and related miscellaneous payables.

(X) Lease liabilities

Book value of the Group’s lease liabilities is as follows :

	June 30, 2025	December 31, 2024	June 30, 2024
Current	$ 27,276	13,387	22,450
Non-current	$ 83,353	24,661	24,151

For the maturity analysis, please refer to Note 6(17).

Amounts recognized as profit or loss are as follows:

	For the three months ended 30 June		For the six months ended 30 June
	2025	2024	2025	2024
Interest expense on lease liabilities	$ 518	188	1,075	322
Variable lease payments not included in the measurement of lease liabilities	$ 8	10	8	78
Gains from sublease of right-of-use assets	$ 194	186	383	374
Expenses related to short term leases	$ 211	329	376	679
Expenses related to leases of low value assets (excluding short term leases of low value assets)	$ 61	52	121	129

~21~

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

Amounts recognized in the consolidated statements of cash flows are as follows:

For the six months ended 30 June
	2025	2024
Total cash flows from leases	$ 17,302	17,525

Leasing of buildings

The Group leases buildings and structures for use as offices and factories. The lease terms for offices range from two to three years, while those for factories range from three to twenty years. Certain leases include an option to extend the lease for a period equal to the original term upon expiry.

Other leases

The Group leases parking spaces and transportation equipment under lease terms of three years.

For certain contracts, lease payments are determined based on actual usage.

In addition, the consolidated company leases offices, office equipment, and transportation equipment under lease terms ranging from one to five years. These leases are classified as short-term or low-value asset leases, for which the company has elected to apply the recognition exemption and therefore does not recognize the related right-of-use assets or lease liabilities.

(XI) Employee benefits

The pension expenses of the Company and its subsidiaries in the Republic of China under the defined contribution plan amounted to NT$ 3,426 thousand, NT$ 3,170 thousand, NT$ 6,680 thousand, and NT$ 6,236 thousand for the periods from April 1 to June 30, 2025 and 2024, and from January 1 to June 30, 2025 and 2024, respectively, and have been contributed to the Bureau of Labor Insurance.

The pension expenses and endowment insurance premiums recognized by other subsidiaries included in the preparation of the consolidated financial statements amounted to NT$ 3,019 thousand, NT$ 3,188 thousand, NT$ 6,631 thousand, and NT$ 6,222 thousand for the periods from April 1 to June 30, 2025 and 2024, and from January 1 to June 30, 2025 and 2024, respectively.

(XII) Income taxes

Details of income tax expenses of the Group are as follows:

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

	For the three months ended 30 June		For the six months ended 30 June
	2025	2024	2025	2024
Income tax expense for the current period:
Incurred during the period	$ 2,958	23,789	11,585	35,920
Surtax on undistributed earnings	4,659	3,723	4,659	3,723
Adjustment to prior years’ current income tax	4,519	8,478	4,519	8,478
	12,136	35,990	20,763	48,121
Deferred tax expense
Origination and reversal of temporary differences	(1,878)	127	1,417	4,475
Income tax expense	$ 10,258	36,117	22,180	52,596

The Company's corporate income tax returns have been assessed and approved by the tax authorities up to the year 2022, while the corporate income tax returns of Leadpak Industrial and Celeraise Technology have been assessed and approved up to the year 2023.

(XIII) Capital and other equity

Except as described below, the Group had no significant changes in capital and other equity during the periods from January 1 to June 30, 2025 and 2024. For related information, please refer to Note 6(12) of the 2024 consolidated financial statements.

Retained earnings and Surplus distribution

According to the Company's Articles of Incorporation, when there is a surplus in the annual final accounts, after deducting corporate income tax in accordance with laws and offsetting accumulated losses from prior years, 10% of the remaining profit shall first be appropriated as legal reserve. However, this requirement shall not apply once the legal reserve has accumulated to an amount equal to the Company's paid-in capital. Furthermore, special reserves shall be appropriated or reversed in accordance with laws or regulations imposed by competent authorities. If a balance still remains thereafter, the remaining amount, together with accumulated undistributed earnings from prior periods, shall be proposed by the Board of Directors for distribution. When the distribution is made by issuing new shares, it shall be submitted for resolution at the shareholders' meeting prior to distribution.

~22~

~23~

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

In accordance with Article 240, Paragraph 5 of the Company Act, the Company authorizes the Board of Directors to distribute dividends and bonuses or to allocate all or part of the legal reserve and capital surplus prescribed in Article 241, Paragraph 1 of the Company Act in cash, provided that at least two-thirds of the directors attend the meeting and more than half of the attending directors approve the resolution. Such distribution shall be reported to the shareholders' meeting.

To address operational growth and investment needs, the Company currently adopts the following dividend distribution principles:

The Company is in a period of business growth. Its dividend distribution policy takes into account factors such as the current and future investment environment, capital requirements, domestic and international competitive conditions, and capital budgeting. The policy aims to balance shareholders' interests with dividend payouts and the Company's long-term financial planning. Each year, the Board of Directors shall propose a dividend distribution plan in accordance with the law, which will then be submitted to the shareholders' meeting for approval. Dividends may be distributed in cash or stock. The proportion of cash dividends shall be no less than 10% of the total dividends as a general principle; however, this cash dividend ratio may be adjusted depending on the operating conditions of the relevant fiscal year.

The Company's Board of Directors resolved the cash dividend amounts for the 2024 and 2023 earnings distribution on March 26, 2025, and March 12, 2024, respectively. Furthermore, the shareholders' meetings held on June 16, 2025, and June 13, 2024, approved the other earnings distribution items for the 2024 and 2023 fiscal years, respectively. The amounts related to the distribution of shareholders' dividends are as follows:

	2023		2022
	Dividend rate (NT$)	Amount	Dividend rate (NT$)	Amount
Dividends distributed to owners of ordinary shares:
Cash dividend	$ 0.30	28,767	0.30	28,767

2. Treasury shares

Pursuant to Article 28-2 of the Securities and Exchange Act, the Company's Board of Directors resolved on May 21, 2025, to repurchase treasury shares as necessary to maintain the Company's credit and protect shareholders' interests. The planned number of shares to be repurchased is 1,000 thousand shares. The details of the changes in treasury shares for the periods from January 1 to June 30, 2025 and 2024 are as follows:

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

	For the six months periods ended 30 June
	2025		2024
	Number of shares (thousand shares)	Amount	Number of shares (thousand shares)	Amount
Beginning balance of treasury shares	-	$ -	-	$ -
Additions during the period	824	12,410	-	-
Ending balance of treasury shares	824	$ 12,410	-	$ -

Pursuant to the Securities and Exchange Act, the number of shares repurchased by the Company shall not exceed 10% of the total issued shares. The total repurchase amount shall not exceed the sum of retained earnings, share premium, and realized capital surplus. Shares repurchased for transfer to employees must be transferred within three years from the repurchase date; otherwise, such shares shall be deemed as unissued and cancelled. Furthermore, treasury shares may not be pledged and do not carry shareholder rights before transfer.

As of the reporting date, the Company has completed its treasury share repurchase. In July 2025, the Company repurchased 176 thousand shares at a total cost of NT$ 5,276 thousand.

(XIV) Earnings per share

The Group's basic earnings per share and diluted earnings per share are calculated as follows:

	For the three months ended 30 June		For the six months ended 30 June
	2025	2024	2025	2024
Basic earnings per share:
Net profit attributable to holders of ordinary shares of the Company	$ 9,022	15,822	3,300	42,892
Weighted average number of ordinary shares outstanding (thousand shares)	95,770	95,890	95,830	95,890
Basic earnings per share (NT$)	$ 0.09	0.17	0.03	0.45

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

	For the three months ended 30 June		For the six months ended 30 June
	2025	2024	2025	2024
Diluted earnings per share:
Net profit attributable to holders of ordinary shares of the Company (diluted)	$ 9,022	15,822	3,300	42,892
Weighted average number of ordinary shares outstanding (basic) (thousand shares)	95,770	95,890	95,830	95,890
Impact of employee stock remuneration	4	115	52	171
Weighted average number of ordinary shares outstanding (diluted) (thousand shares)	95,774	96,005	95,882	96,061
Diluted earnings per share (NT$)	$ 0.09	0.16	0.03	0.45

(XV) Revenue from customer contracts

Details of revenue

	For the three months periods ended 30 June 2025
	Information Services Department	Wire & Connectors Department	Total
Primary regional markets:
Taiwan	$ 325,741	15,523	341,264
Mainland China	-	229,156	229,156
Philippines	-	151,655	151,655
Thailand	-	96,883	96,883
	$ 325,741	493,217	818,958
	For the three months periods ended 30 June 2024
---	---	---	---
	Information Services Department	Wire & Connectors Department	Total
Primary regional markets:
Taiwan	$ 278,266	4,980	283,246
Mainland China	-	295,286	295,286
Philippines	-	179,023	179,023
Thailand	-	102,153	102,153
	$ 278,266	581,442	859,708

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

	For the six months periods ended 30 June 2025
	Information Services Department	Wire & Connectors Department	Total
Primary regional markets:
Taiwan	$ 586,746	21,125	607,871
Mainland China	-	430,082	430,082
Philippines	-	291,873	291,873
Thailand	-	196,451	196,451
	$ 586,746	939,531	1,526,277
	For the six months periods ended 30 June 2024
---	---	---	---
	Information Services Department	Wire & Connectors Department	Total
Primary regional markets:
Taiwan	$ 580,720	8,292	589,012
Mainland China	-	544,519	544,519
Philippines	-	304,175	304,175
Thailand	-	175,341	175,341
	$ 580,720	1,032,327	1,613,047

2. Contract balances

	June 30, 2025	December 31, 2024	June 30, 2024
Notes receivable	$ 4,539	1,028	1,920
Accounts receivable	720,291	848,113	928,274
Contract assets (classified under other current assets)	19,768	-	-
Less: Loss allowance	(13,766)	(19,750)	(19,261)
	$ 730,832	829,391	910,933
Contract liabilities	$ 17,893	39,666	17,938

For disclosures related to notes and accounts receivable and their impairment, please refer to Note 6(2).

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

The beginning balances of contract liabilities as of January 1, 2025 and January 1, 2024, and the amounts recognized as revenue during the periods from January 1 to June 30, 2025 and 2024, amounted to NT$ 29,893 thousand and NT$ 16,503 thousand, respectively.

Changes in contract assets and contract liabilities mainly arise from the timing differences between the transfer of goods or services to customers when performance obligations are satisfied and the receipt of payments from customers by the consolidated company.

(XVI) Remuneration of employees and of directors and supervisors

On June 16, 2025, the Company's shareholders' meeting resolved to amend the Articles of Incorporation. According to the amended Articles, if the Company reports a profit for the fiscal year, it shall appropriate no less than 1% and no more than 10% of the profit as employee compensation. Of the employee compensation amount, no less than 10% shall be allocated to frontline employees as bonuses or salary adjustments. The Board of Directors shall decide whether to distribute such compensation in cash or stock, and the recipients may include employees of subsidiaries meeting certain criteria. The Company may also appropriate up to 3% of the profit as directors' remuneration, subject to Board resolution. Proposals for the distribution of employee and directors' remuneration shall be submitted to the shareholders' meeting for reporting. However, if the Company has accumulated losses, an amount sufficient to cover such losses shall be reserved first before appropriating employee and directors' remuneration according to the above percentages.

Under the previous Articles of Incorporation, if the Company reported a profit for the fiscal year, it was required to appropriate no less than 1% and no more than 10% of the profit as employee compensation. The Board of Directors would decide whether to distribute such compensation in cash or stock, with recipients including employees of subsidiaries meeting certain criteria. The Company could also appropriate up to 3% of the profit as directors' remuneration, subject to Board resolution.

The estimated employee compensation amounts for the Company for the periods from April 1 to June 30, 2025 and 2024, and from January 1 to June 30, 2025 and 2024, were NT$ 77 thousand (including frontline employee compensation), NT$ 1,800 thousand, NT$ 77 thousand (including frontline employee compensation), and NT$ 3,000 thousand, respectively. The estimated directors' remuneration amounts for the same periods were NT$ 77 thousand, NT$ 1,800 thousand, NT$ 77 thousand, and NT$ 3,000 thousand, respectively. These estimates are based on the Company's pre-tax net income before deducting employee and directors' remuneration for each

~27~

~28~

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

period. After offsetting accumulated losses, the remaining balance is multiplied by the appropriation rates for employee and directors' remuneration prescribed in the Company's Articles of Incorporation. The amounts are recognized as operating expenses for the respective periods. If the Board of Directors resolves to distribute employee compensation in shares, the number of shares to be issued is calculated based on the closing price on the day prior to the Board's resolution.

The Company's accrued employee compensation for the fiscal years 2024 and 2023 amounted to NT$3,000 thousand and NT$3,400 thousand, respectively. The accrued directors' remuneration for the same periods was also NT$3,000 thousand and NT$3,400 thousand, respectively. There were no discrepancies between the accrued amounts and the actual distributions. Related information is available on the Market Observation Post System (MOPS).

(XVII) Financial instruments

Except as described below, there were no significant changes in the fair value of the consolidated company's financial instruments or in the exposure to credit risk, liquidity risk, and market risk arising from financial instruments. For related information, please refer to Note 6(16) of the 2024 consolidated financial statements.

1. Credit risk

(1) Amount of maximum credit risk exposure

The carrying amounts of financial assets and contract assets represent the maximum credit exposure amount.

(2) Concentration of credit risk

Since the Group has a large customer base, there is no significant concentration of transactions with a single customer and the sales area is dispersed. Therefore, there is no risk of significant concentration of credit risk in accounts receivable. To reduce credit risk, the Group also regularly and continuously evaluates the financial status of customers. However, customers are usually not required to provide collateral.

(3) Credit risk of receivables

For information on the credit risk exposure and impairment of notes and accounts receivable, please refer to Note 6(2).

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

2. Liquidity risk

The table below shows the contractual maturity dates of financial liabilities, including estimated interest and impact of netting agreements.

	Carrying amount	Contractual cash flows	Within 1 year	1 to 2 years	Over 2 years
June 30, 2025
Non-derivative financial liabilities
Short-term bank loans	$ 748,000	(749,769)	(749,769)	-	-
Notes and accounts payable	393,619	(393,619)	(393,619)	-	-
Other payables	135,666	(135,666)	(135,666)	-	-
Dividends payable	28,767	(28,767)	(28,767)	-	-
Lease liabilities - current and non-current	110,620	(115,830)	(28,950)	(21,724)	(65,156)
Deposits paid (classified under other non-current liabilities)	354	(354)	-	-	(354)
	$ 1,417,026	(1,424,005)	(1,336,771)	(21,724)	(65,510)
December 31, 2024
Non-derivative financial liabilities
Short-term bank loans	$ 698,000	(699,282)	(699,282)	-	-
Notes and accounts payable	457,762	(457,762)	(457,762)	-	-
Other payables	145,314	(145,314)	(145,314)	-	-
Lease liabilities - current and non-current	38,048	(40,249)	(13,877)	(6,215)	(20,157)
Deposits paid (classified under other non-current liabilities)	358	(358)	-	-	(358)
	$ 1,339,482	(1,342,965)	(1,316,235)	(6,215)	(20,515)
June 30, 2024
Non-derivative financial liabilities
Short-term bank loans	$ 730,000	(732,380)	(732,380)	-	-
Notes and accounts payable	458,298	(458,298)	(458,298)	-	-
Other payables	125,756	(125,756)	(125,756)	-	-
Dividends payable	28,767	(28,767)	(28,767)	-	-
Lease liabilities - current and non-current	46,601	(48,740)	(22,952)	(9,168)	(16,620)
Deposits paid (classified under other non-current liabilities)	355	(355)	-	-	(355)
	$ 1,389,777	(1,394,296)	(1,368,153)	(9,168)	(16,975)

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

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

Exchange rate risk

(1) Exposure to exchange rate risk

The financial assets and liabilities of the Group exposed to significant foreign currency exchange rate risk are as follows:

	June 30, 2025			December 31, 2024			Foreign currency unit: $ thousand June 30, 2024
	Foreign currency	Exchange rate	TWD	Foreign currency	Exchange rate	TWD	Foreign currency	Exchange rate	TWD
Financial assets
Monetary items
USD	$ 6,504 USD/TWD =29.300	190,562	5,485 USD/TWD =32.785	179,831	6,066 USD/TWD =32.450	196,842
USD	15,384 USD/RMB =7.162	450,761	18,406 USD/RMB =7.321	603,442	21,916 USD/RMB =7.300	711,180
USD	20,850 USD/HKD =7.851	610,892	22,474 USD/HKD =7.765	736,823	20,857 USD/HKD =7.810	676,813
USD	6,701 USD/PHP =56.346	196,349	5,456 USD/PHP =57.822	178,868	7,541 USD/PHP =58.574	244,703
USD	2,304 USD/THB =32.304	67,508	2,288 USD/THB =34.080	75,006	1,081 USD/THB =36.584	35,092
Financial liabilities
Monetary items
USD	1,433 USD/TWD =29.300	41,981	509 USD/TWD =32.785	16,699	1,373 USD/TWD =32.450	44,553
USD	1,468 USD/RMB =7.162	43,005	3,182 USD/RMB =7.321	104,310	3,907 USD/RMB =7.300	126,770
USD	6,080 USD/HKD =7.851	178,156	10,141 USD/HKD =7.765	332,476	9,836 USD/HKD =7.810	319,168
USD	5,121 USD/PHP =56.346	150,037	4,265 USD/PHP =57.822	139,833	5,565 USD/PHP =58.574	180,576
USD	7,363 USD/THB =32.304	215,736	5,266 USD/THB =34.080	172,661	5,416 USD/THB =36.584	175,762

(2) Sensitivity analysis

The Group entities' foreign exchange risk on monetary items primarily arises from cash and cash equivalents, accounts receivable, other receivables, borrowings, accounts payable, and other payables denominated in foreign currencies, which result in foreign exchange gains or losses upon translation. As of June 30, 2025 and 2024, assuming a 5% depreciation or appreciation of foreign currencies against the NTD, RMB, HKD, PHP, and THB, with all other variables held constant, the impact on profit before tax for the six months ended June 30, 2025 and 2024 would have been as follows:

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

	June 30, 2025	June 30, 2024
USD (versus TWD)
Appreciate 5%	$ 7,429	7,614
Depreciate 5%	(7,429)	(7,614)
USD (versus RMB)
Appreciate 5%	20,388	29,221
Depreciate 5%	(20,388)	(29,221)
USD (versus HKD)
Appreciate 5%	21,637	17,882
Depreciate 5%	(21,637)	(17,882)
USD (versus PHP)
Appreciate 5%	2,316	3,206
Depreciate 5%	(2,316)	(3,206)
USD (versus THB)
Appreciate 5%	(7,411)	(7,034)
Depreciate 5%	7,411	7,034

(3) Exchange gains and losses on monetary items

Due to the wide variety of functional currencies of the Group, the exchange profit and loss information of monetary items is disclosed by means of consolidation. As for the three months and six months ended 30 June 2025 and 2024, the net exchange (loss) gain (including realized and unrealized) amounted to NT$ (12,841) thousand, NT$ 6,843 thousand, NT$ (13,243) thousand and NT$ 9,596 thousand, respectively.

Interest rate analysis

The Group's financial asset and financial liability interest rate risk exposure is listed in the following table:

	June 30, 2025	December 31, 2024	June 30, 2024
Variable rate instruments (book amounts):
Financial assets	$ 754,317	742,549	688,775
Financial liabilities	748,000	680,000	695,000

The following sensitivity analysis is based on the exposure to interest rate risk of the derivative and non-derivative financial instruments on the reporting date. For variable rate instruments, the sensitivity analysis assumes the variable rate liabilities on the reporting date have been outstanding for the whole year.

~32~

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

The Group's internal key management reports increase and decreases in interest rates, and changes in interest rates of 25 basis points are considered by management to be reasonably possible.

If interest rates had increased or decreased by 25 basis points, and with all other variables held constant, the Group's pre-tax profit and loss as for the six months periods ended 30 June 2025 and 2024 would be as follows, mainly due to the Group's variable interest rate demand deposits and borrowings:

	For the six months ended 30 June
	2025	2024
Interest rates increase by 25 bps	$ 8	(8)
Interest rates decrease by 25 bps	(8)	8

5. Fair value information

(1) Type and fair value of financial instruments

The carrying amounts and fair values of the Group's financial assets and financial liabilities are listed below (including fair value rating information; however, provided that the carrying number of financial instruments other than fair value is a reasonable approximation of fair value, and in the case of lease liabilities, there is no requirement to disclose fair value information):

	June 30, 2025
	Carrying amount	Fair value
		Level 1	Level 2	Level 3	Total
Financial assets measured at amortized cost
Cash and cash equivalents	$ 854,468	-	-	-	-
Net notes and accounts receivable	711,064	-	-	-	-
Other financial assets - current	66,208	-	-	-	-
Other financial assets - non-current	56,537	-	-	-	-
	$ 1,688,277
Financial liabilities measured at amortized cost
Bank loans	$ 748,000	-	-	-	-
Notes and accounts payable	393,619	-	-	-	-
Other payables	135,666	-	-	-	-
Dividends payable	28,767	-	-	-	-
Lease liabilities - current	27,267	-	-	-	-
Lease liabilities - non-current	83,353	-	-	-	-

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

	June 30, 2025
	Carrying amount	Fair value
		Level 1	Level 2	Level 3	Total
Guarantee deposits paid (classified as other non-current liabilities)	354	-	-	-	-
	$ 1,417,026
	December 31, 2024
---	---	---	---	---	---
	Carrying amount	Fair value
		Level 1	Level 2	Level 3	Total
Financial assets measured at amortized cost
Cash and cash equivalents	$ 946,019	-	-	-	-
Net notes and accounts receivable	829,391	-	-	-	-
Other financial assets - current	98,273	-	-	-	-
Other financial assets - non-current	58,050	-	-	-	-
	$ 1,931,733
Financial liabilities measured at amortized cost
Bank loans	$ 698,000	-	-	-	-
Notes and accounts payable	457,762	-	-	-	-
Other payables	145,314	-	-	-	-
Lease liabilities - current	13,387	-	-	-	-
Lease liabilities - non-current	24,661	-	-	-	-
Guarantee deposits paid (classified as other non-current liabilities)	358	-	-	-	-
	$ 1,339,482
	June 30, 2024
---	---	---	---	---	---
	Carrying amount	Fair value
		Level 1	Level 2	Level 3	Total
Financial assets measured at amortized cost
Cash and cash equivalents	$ 935,809	-	-	-	-
Net notes and accounts receivable	910,933	-	-	-	-
Other financial assets - current	62,812	-	-	-	-
Other financial assets - non-current	46,302	-	-	-	-
	$ 1,955,856
Financial liabilities measured at amortized cost
Bank loans	$ 730,000	-	-	-	-
Notes and accounts payable	458,298	-	-	-	-
Other payables	125,756	-	-	-	-
Dividends payable	28,767	-	-	-	-
Lease liabilities - current	22,450	-	-	-	-

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

	June 30, 2024
	Carrying amount	Fair value
		Level 1	Level 2	Level 3	Total
Lease liabilities - non-current	24,151	-	-	-	-
Guarantee deposits paid (classified as other non-current liabilities)	355	-	-	-	-
	$ 1,389,777

(2) Valuation techniques for financial instruments not measured at fair value

The management of the Group believes that the carrying amounts of the Group's financial assets and financial liabilities measured at amortized cost in the consolidated financial statements are close to their fair values.

(XVIII) Financial risk management

The objectives and policies of the consolidated company's financial risk management have not undergone any material changes from those disclosed in Note 6(17) to the consolidated financial statements for the year ended 2024.

(XIX) Capital management

The consolidated company's capital management policies, objectives, and procedures are consistent with those disclosed in the consolidated financial statements for the year ended 2024. In addition, the aggregate quantitative data pertaining to capital management remain materially unchanged from those disclosed in the consolidated financial statements for the year ended 2024. For related information, please refer to Note 6(18) to the consolidated financial statements for the year ended 2024.

(XX) Investing and financing activities not affecting current cash flows

For the six months periods ended June 30, 2025 and 2024, the consolidated company's non-cash investing and financing activities comprised the acquisition of right-of-use assets through leases. Please refer to Note 6(7).

Reconciliation of liabilities from financing activities is as follows:

	Non-cash changes
	January 1, 2025	Cash flows	Others	Exchange rate changes	June 30, 2025
Short-term loans	$ 698,000	50,000	-	-	748,000
Deposits received	358	-	-	(4)	354
Lease liabilities	38,048	(15,722)	96,042	(7,748)	110,620
Total liabilities from financing activities	$ 736,406	34,278	96,042	(7,752)	858,974

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

	Non-cash changes
	January 1, 2024	Cash flows	Others	Exchange rate changes	June 30, 2024
Short-term loans	$ 696,000	34,000	-	-	730,000
Deposits received	301	52	-	2	355
Lease liabilities	44,863	(16,317)	17,379	676	46,601
Total liabilities from financing activities	$ 741,164	17,735	17,379	678	776,956

VII. Related party transactions

(I) Names and relationship with related parties

Parties involved in transactions with the Group during the periods covered by these consolidated financial statements were as follows:

Name of related party	Relationship with the Group
Mr. Yun-Teng Chang	Chairman of the Company
Ms. Kui-Yu Chang	Director of the Company
Kunshan Ming Mao Electronics Co., Ltd. (Kunshan Ming Mao)	The responsible person is an immediate family member of the Company's chairman
Year Jan Industrial Co., Ltd. (Year Jan)	The responsible person is an immediate family member of the Company's chairman
ILOFA REALTY INC. (ILOFA)	The responsible person is a director of the Company

(II) Significant transactions with related parties

Payables to related parties

Details of payables to related parties for the Group's leasing of real estate to related parties are as follows:

Accounts	Related party category	June 30, 2025	December 31, 2024	June 30, 2024
Other payables	Key management personnel of the Group	$ 3,949	3,441	3,388
"	Other related parties	9,251	5,066	5,028
		$ 13,200	8,507	8,416

~36~

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

2. Leases

(1) In January and April 2022, the Group renewed leases with another related party, Year Jan, for factories, offices, and parking spaces. Rental rates were determined based on market prices, with one-year lease agreements signed in each case and an expected renewal term of three years. The total contract values were NT$ 5,825 thousand and NT$ 1,097 thousand, respectively. In January and April 2025, the Group again renewed leases for factories, parking spaces, and offices. All were one-year lease agreements with an expected renewal term of four years, and the total contract value amounted to NT$ 11,537 thousand.

(2) In January 2022, the Group leased a factory from another related party, Kunshan Ming Mao, with rental rates determined based on market prices. A one-year lease agreement was signed with an expected renewal term of three years, and the total contract value was NT$58,236 thousand. In January 2025, the Group renewed the factory lease under a one-year lease agreement with an expected renewal term of four years. The total contract value was NT$ 88,104 thousand (RMB$ 21,540 thousand).

(3) In January 2019, the Group renewed a factory lease with another related party, ILOFA, with rental rates determined based on market prices. A two-year lease agreement was signed with an expected renewal term of twenty years, and the total contract value was NT$ 27,701 thousand.

(4) In May 2020, the Group leased an office from key management personnel, with rental rates determined based on market prices. A three-year lease agreement was signed with an expected renewal term of three years, and the total contract value was NT$ 2,417 thousand. In May 2023, the lease was renewed under a three-year lease agreement with an expected renewal term of three years, and the total contract value was NT$ 2,819 thousand. As of June 30, 2025, December 31, 2024, and June 30, 2024, guarantee deposits paid amounted to HK$ 18 thousand and were classified under other non-current assets.

(5) Details of its lease liabilities and interest expenses are as follows :

	Lease liability balance			Interest expense
	June 30, 2025	December 31, 2024	June 30, 2024	For the three months ended 30 June		For the six months ended 30 June
				2025	2024	2025	2024
YEAR JAN	$ 10,257	5,498	1,453	47	5	70	12
Kunshan Ming Mao	76,109	-	9,545	368	36	780	85
ILOFA	15,364	17,315	17,464	56	61	116	124
Senior management	742	1,338	1,804	4	6	8	14
	$ 102,472	24,151	30,266	475	108	974	235

~37~

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

(III) Key management personnel compensation

Key management personnel compensation comprised:

	For the three months ended 30 June		For the six months ended 30 June
	2025	2024	2025	2024
Other long-term benefits	$ 6,729	9,969	13,278	18,633

Guarantees provided

The total credit facilities under the consolidated company's loan agreements amounted to NT$1,390,000 thousand, NT$1,214,963 thousand, and NT$1,184,125 thousand as of June 30, 2025, December 31, 2024, and June 30, 2024, respectively, with Mr. Yun-Teng Chang acting as a joint guarantor.

VIII. Pledged assets

Details of book values of assets provided by the Group as collateral against pledges are as follows:

Asset name	Purpose of pledge	June 30, 2025	December 31, 2024	June 30, 2024
Property, plant, and equipment - land	short-term loans	$ 140,142	140,142	140,142
Property, plant, and equipment - buildings	short-term loans	33,774	34,594	35,425
Restricted bank deposits (accounted for as other financial assets - current)	short-term loans	30,500	42,500	45,000
Restricted bank deposits (accounted for as other financial assets - current)	Litigation security deposit	1,110	1,449	-
Deposits made (accounted for as other financial assets - current)	Performance guarantees and bid deposits	11,544	6,614	15,916
Deposits made (accounted for as other non-current assets)	Performance guarantees and bid deposits	56,537	58,050	46,302
		$ 273,607	283,349	282,785

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

IX. Significant commitments and contingencies:

(1) Significant commitments:

| | June
30, 2025 | December
31, 2024 |
| --- | --- | --- |
| Contracted but unpaid amounts for property and equipment | $ 73,969 | 78,454 |
| | (THB$ 81,553 thousand) | (THB$ 81,553 thousand) |

X. Losses due to major disasters: None.

XI. Significant subsequent events: None.

XII. Other

(I) The summary of current period employee benefits, depreciation, and amortization, by function, is as follows:

| Function
Nature | For the three months
ended 30 June, 2025 | | | For the three months
ended 30 June, 2024 | | |
| --- | --- | --- | --- | --- | --- | --- |
| | Under
operating
costs | Under
operating
expenses | Total | Under
operating
costs | Under
operating
expenses | Total |
| Employee benefit expense | | | | | | |
| Salary expense | 112,544 | 50,847 | 163,391 | 100,359 | 51,176 | 151,535 |
| Health and labor insurance expense | 7,274 | 3,977 | 11,251 | 6,636 | 3,189 | 9,825 |
| Pension expense | 4,201 | 2,244 | 6,445 | 4,283 | 2,075 | 6,358 |
| Other employee benefit expense | 4,668 | 3,712 | 8,380 | 4,560 | 2,717 | 7,277 |
| Depreciation expense | 13,522 | 4,374 | 17,896 | 14,431 | 4,819 | 19,250 |
| Amortization expense | - | 574 | 574 | - | 773 | 773 |
| Function
Nature | For the six months
ended 30 June, 2025 | | | For the six months
ended 30 June, 2024 | | |
| --- | --- | --- | --- | --- | --- | --- |
| | Under
operating
costs | Under
operating
expenses | Total | Under
operating
costs | Under
operating
expenses | Total |
| Employee benefit expense | | | | | | |
| Salary expense | 211,714 | 103,783 | 315,497 | 188,919 | 100,114 | 289,033 |
| Health and labor insurance expense | 13,945 | 7,796 | 21,741 | 12,583 | 6,822 | 19,405 |
| Pension expense | 8,790 | 4,521 | 13,311 | 8,391 | 4,067 | 12,458 |
| Other employee benefit expense | 8,844 | 7,130 | 15,974 | 8,381 | 5,842 | 14,223 |
| Depreciation expense | 27,406 | 9,424 | 36,830 | 29,751 | 10,286 | 40,037 |
| Amortization expense | - | 1,158 | 1,158 | - | 1,522 | 1,522 |

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

(II) The Group's operations were not affected by seasonality or cyclicality factors.

(III) Other

In December 2024, the Group discovered that an employee of its Information Services Department was involved in illegal activities, including document forgery and the misappropriation and sale of inventory. These actions resulted in losses of NT$ 17,464 thousand and NT$ 21,089 thousand for the periods from April 1 to June 30, 2024, and from January 1 to June 30, 2024, respectively, which were recognized under other losses. As of December 31, 2024, the cumulative recognized loss amounted to NT$ 82,187 thousand.

As of the reporting date, the case was still under investigation by judicial authorities. For related information, please refer to Note 12(2) to the consolidated financial statements for the year ended 2024.

XIII. Other disclosures

(I) Information on significant transactions

The following is the information on significant transactions required by the Regulations Governing the Preparation of Financial Reports by Securities Issuers for the Group for the three-month periods ended 31 March 2025:

Loans to other parties:

Number	The company lending funds	Name of borrower	Current account	Whether a related party	Highest amount during the period	Balance at end of period	Actual usage amount	Interest rate	Purposes of fund financing for the borrower	Transaction amount for business between two parties	Reasons for short term financing	Allowance for bad debt	Collateral		Loan limit for individual counterparties	Total loan limit
													Name	Value
1	Jiu Tai	THAILAND	Other receivables	Y	23,244	20,510	20,510	4.0%	Short-term financing	-	Operating turnover	-	None	-	102,065	255,162
1	Jiu Tai	Field Profit International	Other receivables	Y	25,070	22,122	22,122	1.5%	Short-term financing	-	Operating turnover	-	None	-	255,162	255,162
2	Celeraise Hong Kong	THAILAND	Other receivables	Y	73,051	65,925	65,925	4.0%	Short-term financing	-	Operating turnover	-	None	-	430,791	1,076,979
2	Celeraise Hong Kong	Jiu Tai	Other receivables	Y	19,923	17,580	17,580	4.0%	Short-term financing	-	Operating turnover	-	None	-	430,791	1,076,979
3	Shenzhen Zhan Sheng	Huizhou Zhan Mao	Other receivables	Y	32,011	28,637	28,637	1.5%	Short-term financing	-	Operating turnover	-	None	-	144,582	144,582

Note 1: In accordance with Jiun Tai's Operational "Procedures for Loaning Funds to Others", the total amount of funds loaned may not exceed 100% of Jiun Tai's net value. If there is a need for short-term financing with Jiun Tai, the loan amount may not exceed 100% of Jiun Tai's net value. Further, the total amount of foreign intercompany loans where Jiun Tai does not directly or indirectly hold 100% of the voting shares may not exceed 40% of the net value.

Note 2: In accordance with Shenzhen Zhan Sheng's "Operational Procedures for Loaning Funds to Others", the total amount of funds loaned may not exceed 500% of Celeraise Hong Kong's net value. If there is a need for short-term financing with Shenzhen Zhan Sheng, the loan amount may not exceed 500% of Shenzhen Zhan Sheng's net value. Separately, the total amount of intercompany loans where Shenzhen Zhan Sheng does not directly or indirectly hold 100% of the voting shares may not exceed 40% of the net value.

Note 3: In accordance with Celeraise Hong Kong's "Operational Procedures for Loaning Funds to Others", the total amount of funds loaned may not exceed 100% of Celeraise Hong Kong's net value. If there is a need for short-term financing with Celeraise Hong Kong, the loan amount may not exceed 100% of Celeraise Hong Kong's net value. Separately, the total amount of intercompany loans where Celeraise Hong Kong does not directly or indirectly hold 100% of the voting shares may not exceed 40% of the net value.

Note 4: The above transactions have been eliminated in the preparation of the consolidated financial statements.

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

Guarantees and endorsements for other parties:

Number	Name of endorsement guarantee company	Counterparty of guarantee and endorsement		Endorsement guarantee limit for single enterprise	Maximum endorsement guarantee balance for the current period	Balance of endorsement/guarantee at end of period	Actual usage amount	Guarantee amount by endorsement of property guarantees	Ratio of cumulative endorsement guarantee amount to net value of the most recent financial statements	Endorsement guarantee maximum	Endorsement guarantee of parent company for subsidiaries	Endorsement guarantee of subsidiaries for parent company	Endorsements/guarantees to the mainland China region
		Company name	Relationship
0	The Company	Celeraise Hong Kong	Subsidiary of the Company	1,426,898	82,050	-	-	-	%	1,426,898	Y	N	N
0	"	Celeraise	Subsidiary of the Company	1,426,898	80,000	80,000	15,000	-	5.61%	1,426,898	Y	N	N
1	Celeraise Technology	The Company	Parent company	264,253	80,088	75,234	75,234	-	142.35%	264,253	N	Y	N

Note 1: The total amount of the Company's external endorsements/guarantees may not exceed 100% of the Company's net value. The amount of endorsements/guarantees for a single enterprise may not exceed 100% of the Company's net value.

Note 2: Endorsements/guarantees made by Celeraise Technology are made in accordance with that company's Management Measures for Loans and Endorsements/Guarantees. The total amount of external endorsements/guarantees may not exceed 500% of the company's net value, and the amount of endorsements/guarantees for a single enterprise may not exceed 500% of the company's net value.

Note 3: The counterparty of the above endorsement/guarantee is the entity preparing the consolidated financial statements.

Securities held at the end of the period (excluding investment in subsidiaries, associates, and joint ventures): None.
Related party transactions for purchases and sales with amounts exceeding NT$100 million or 20% of the paid-in capital:

Unit: NT$ thousand

Name of company	Related party	Nature of relationship	Transaction details				Transaction with terms different from others		Notes/Accounts receivable(payable)		Note
			Purchase/ sale	Amount (Note 1)	Percentage of total purchases/ sales	Payment terms	Unit Price	Payment terms	Ending balance	Percentage of total Notes/Accounts receivable(payable)
Huizhou Zhan Mao	Celeraise Hong Kong	Ultimate parent company is the same	(sale)	(108,462)	(57) %	Monthly statement, 120 days after month end; payment/collection scheduled based on funding requirements.	The settlement and payment terms do not differ significantly from those offered to the Company's other customers.	Monthly closing with payment due 60-80 days after the month end for regular customers.	123,328	34 %	Note1
Celeraise Hong Kong	Huizhou Zhan Mao	Ultimate parent company is the same	purchase	158,462	63 %	Monthly statement, 120 days after month end; payment/collection scheduled based on funding requirements.	The settlement and payment terms do not differ significantly from those offered to the Company's other customers.	Monthly closing with payment due 60-80 days after the month end for regular customers.	(86,449)	(68) %	Note1
Unalipak Industrial	CELEERAISE	Ultimate parent company is the same	(sale)	(108,463)	(100) %	Monthly statement, 120 days after month end; payment/collection scheduled based on funding requirements.	The settlement and payment terms do not differ significantly from those offered to the Company's other customers.	Monthly closing with payment due 60-80 days after the month end for regular customers.	34,168	100 %	Note1
CELEERAISE	Unalipak Industrial	Ultimate parent company is the same	purchase	126,463	45 %	Monthly statement, 120 days after month end; payment/collection scheduled based on funding requirements.	The settlement and payment terms do not differ significantly from those offered to the Company's other customers.	Monthly closing with payment due 60-80 days after the month end for regular customers.	(34,186)	(23) %	Note1

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

Receivables from related parties with amounts exceeding NT$100 million or 20% of the paid-in capital:

Unit: NT$ thousand

Company with accounts receivable	Transaction counterparty	Relationship	Balance of receivables from related parties	Turnover rate	Receivables overdue from related parties		Receivables amount from related parties recovered after the period	Amount of allowance for doubtful accounts
					Amount	Action taken
Huizhou Zhan Mao	Celeraise Hong Kong	Ultimate parent company is the same	123,328	1.67	-	-	70,641	-

Note 1: Information as of July 31, 2025.
Note 2: The transactions listed on the left have been eliminated in the preparation of the consolidated financial statements.

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

Business relationships and significant intercompany transactions:

Number (Note 1)	Name of transaction person	Name of counterparty	Relationship with transaction person (Note 2)	Intercompany transactions
				Account name	Amount	Trading terms	Ratio to consolidated total revenue or total assets
1	Celeraise Hong Kong	Huizhou Zhan Mao	3	Sales revenue	46,673	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	3.06%
1	Celeraise Hong Kong	Huizhou Zhan Mao	3	Accounts receivable	29,508	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	0.98%
1	Celeraise Hong Kong	THAILAND	3	Sales revenue	11,400	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	0.75%
1	Celeraise Hong Kong	THAILAND	3	Other receivables (Note 3)	67,008	Interest rate 4.0%	2.23%
1	Celeraise Hong Kong	Jian Tai	3	Other receivables (Note 3)	17,857	Interest rate 4.0%	0.59%
2	Kunshan Yi Guan	Shanghai Zhan sheng	3	Sales revenue	18,706	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	1.23%
2	Kunshan Yi Guan	Shanghai Zhan Sheng	3	Accounts receivable	4,436	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	0.15%
2	Kunshan Yi Guan	Celeraise Hong Kong	3	Sales revenue	22,373	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	1.47%
2	Kunshan Yi Guan	Celeraise Hong Kong	3	Accounts receivable	28,476	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	0.95%
3	Huizhou Zhan Mao	Celeraise Hong Kong	3	Sales revenue	158,462	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	10.38%
3	Huizhou Zhan Mao	Celeraise Hong Kong	3	Accounts receivable	123,328	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	4.10%
3	Huizhou Zhan Mao	CELERAIS	3	Sales revenue	32,495	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	2.13%
3	Huizhou Zhan Mao	CELERAIS	3	Accounts receivable	98,631	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	3.28%
3	Huizhou Zhan Mao	Kunshan Yi Guan	3	Sales revenue	109	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	0.01%

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

Number (Note 1)	Name of transaction person	Name of counterparty	Relationship with transaction person (Note 2)	Intercompany transactions
				Account name	Amount	Trading terms	Ratio to consolidated total revenue or total assets
3	Huizhou Zhan Mao	Kunshan Yi Guan	3	Accounts receivable	4,591	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	0.15%
3	Huizhou Zhan Mao	THAILAND	3	Sales revenue	13,140	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	0.86%
3	Huizhou Zhan Mao	THAILAND	3	Accounts receivable	77,070	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	2.56%
4	Laadpak Industrial	CELERAIS	3	Sales revenue	126,463	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	8.29%
4	Laadpak Industrial	CELERAIS	3	Accounts receivable	34,188	The selling price does not differ significantly from that offered to regular customers, with a 120-day monthly settlement, and payments are made or received based on funding needs	1.14%
6	Jian Tai	THAILAND	3	Other receivables (Note 3)	20,600	Interest rate 4%	0.68%
6	Jian Tai	Yield Profit International	3	Other receivables (Note 3)	22,914	Interest rate 1.5%	0.76%
7	Shenzhen Zhan Sheng	Huizhou Zhan Mao	3	Other receivables (Note 3)	28,845	Interest rate 1.5%	0.96%

Note 1: Numbers are filled in according to the following:
1. The parent company is 0.
2. Subsidiaries are numbered in sequence starting from 1.

Note 2: Relationship is classified into three types:
1. Parent company to subsidiary.
2. Subsidiary to parent company.
3. Subsidiary to subsidiary.

Note 3: Lending funds (including interests).

(II) Information on investees

The Group's reinvestment business information is as follows (excluding investment in mainland China companies):

Unit: Foreign currency thousands / thousand shares

Investing company name	Investee company name	Region	Main business items	Original investment amount		Held at end of period			Profit or loss of the investee company for the current period (Note 2)	Investment gains and losses recognized in the current period (Note 2)	Notes
				End of current period (Note 1)	End of prior period (Note 1)	Number of shares	Ratio	Carrying amount (Note 1)
The Company	A Team	British Virgin Islands	Investment, Trading, and Holding Company	16,538	16,538	500	100%	904			Sub-subsidiary
The Company	Jun Tai	Hong Kong	Holding Company	267,498	267,498	66,160	100%	260,753	(3,780)	(3,780)	✓
The Company	Celeraise Technology	Taiwan	Information Services Industry	30,000	30,000	3,000	100%	52,870	12,386	12,404	✓
The Company	Leadpak Industrial	Taiwan	International Trade and Other Wholesale and Retail Businesses	30,149	29,810	3,000	100%	37,544	7,127	7,504	✓
The Company	KING HONG	Taiwan	International Trade, Electronic Materials, and Electrical Appliances Trading Business	5,100	5,100	510	51%	5,145	39	20	✓
The Company	HONG YI	Taiwan	Investment, International Trade, and Trading of Electronic Materials and Electrical Appliances	15,600	15,600	1,560	52%	15,577	(25)	(13)	✓
The Company	Celeraise Hong Kong	Hong Kong	Manufacturing and Sales of Wire and Cable Connectors and Terminals	191,996	191,996	50,300	99.99%	1,103,271	12,137	12,137	✓

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

Unit: Foreign currency thousands / thousand shares

Investing company name	Investor company name	Region	Main business items	Original investment amount		Held at end of period		Profit or loss of the investee company for the current period (Note 2)	Investment gains and losses recognized in the current period (Note 2)	Notes
				End of current period (Note 1)	End of prior period (Note 1)	Number of shares	Ratio
The Company	CELERAISE	Philippines	Manufacturing and Sales of Wire and Cable Connectors and Terminals	25,532	25,532	400	100%	214,046	(1,481)	-
The Company	THAILAND	Thailand	Manufacturing and Sales of Wire and Cable Connectors and Terminals	182,136	182,136	18,275	100%	166,664	(4,092)	-
Jian Tai	Celeralse Hong Kong	Hong Kong	Manufacturing and Sales of Wire and Cable Connectors and Terminals	1 (HKD 0.16)	1 (HKD 0.16)	-	0.01%	1 (HKD0.16)	-	Recognized by Jun Tai
Jian Tai	Welttrend Technology Co., Ltd.	Thailand	Manufacturing and Sales of Wire and Cable Connectors and Terminals	115,013 (HKD 30,818)	73,636 (HKD 19,731)	1,440	80%	124,272 (HKD 33,299)	(5,849) (HKD (1,432))	Recognized by Jun Tai
Celeralse Hong Kong	Field Profit International	Hong Kong	Investment, Trading, and Holding Company	58,219 (HKD 15,600)	58,219 (HKD 15,600)	15,600	100%	410,640 (HKD 110,032)	21,191 (HKD 5,189)	Recognized by Celeralse Hong Kong
Celeralse Hong Kong	Jet Success	Hong Kong	Investment, Trading, and Holding Company	29,110 (HKD 7,800)	29,110 (HKD 7,800)	7,800	100%	226,171 (HKD 63,015)	(1,050) (HKD (257))	-

Note 1: Converted to New Taiwan dollar at the period-end exchange rate on the financial reporting end date.
Note 2: Converted to New Taiwan dollar at the average exchange rate during the financial reporting period.
Note 3: The above transactions have been eliminated in the preparation of the consolidated financial statements

(III) Information on investment in mainland China

Relevant information such as the name and main business items of the investee company in mainland China:

Unit: Foreign currency thousands / thousand shares

Mainland China investee company name	Main business items	Paid-in capital amount (Note 3)	Investment method	Accumulated investment amount remitted from Taiwan at the beginning of the current period (Note 3)	Investment amount remitted or recovered in the current period (Sufflow) follow		Accumulated investment amount remitted from Taiwan at the end of the current period (Note 3)	Profit or loss of the investee company for the current period (Note 4)	Shareholding ratio of the Company's direct or indirect investment	Investment gains and losses recognized in the current period (Notes 4 and 5)	Book value of investments at the end of the period (Note 3)	Investment incurred repatriated up to the current period
Shanghai Min Sfs	Research and Development and Production of Industrial Automation Control, Product Quality Control, Communication, and Electronic Network Computer Software	14,650 (USD 500)	Note 1	14,650 (USD 500)	-	-	14,650 (USD 500)	-	100%	-	-	-
Shanghai Zhan Sheng	Manufacture of electronic and wire connectors, telephone parts, and small household appliances, and sales of the Company's own products	49,078 (USD 1,675)	Note 2	213,890 (USD 7,300)	-	-	213,890 (USD 7,300)	467 (RMB 107)	100%	221 (HKD (54))	99,223 (HKD 26,587)	37,609 (RMB 8,508)
Shenzhen Zhan Sheng	Manufacturing and Sales of Wire and Cable Connectors and Terminals	43,440 (USD 515 RMB 6,930) (Note 6)	Note 2	-	-	-	-	(988) (RMB (226))	100%	(988) (HKD (242))	28,915 (HKD 7,748)	-
Celeralse Chen Zhou	Production and sale of wire connectors, electronic wire products, etc.	-	Note 2	29,300 (USD 1,000)	-	-	29,300 (USD 1,000)	(Note 8)	-	-	(Note 8)	-
Kunshan Yi Guan	Manufacturing and Sales of Wire and Cable Connectors and Terminals	29,300 (USD 1,000)	Note 2	29,300 (USD 1,000)	-	-	29,300 (USD 1,000)	(1,249) (RMB (285))	100%	(1,249) (HKD (306))	228,802 (HKD 61,308)	130,371 (RMB 30,071)
Huizhou Zhan Mao	Manufacture and sales of wire connectors, electronic wire products, and packaging materials	49,224 (USD 1,680) (Note 7)	Note 2	-	-	-	-	21,649 (RMB 4,940)	100%	21,649 (HKD 5,301)	433,326 (HKD 116,111)	44,748 (RMB 10,630)

Limitations on investment in mainland China:

Company name	Accumulated investment amount remitted from Taiwan to mainland China at the end of the current period (Note 3)	Investment amount approved by the Investment Commission of the Ministry of Economic Affairs (Note 3)	Investment limit for the mainland China area in accordance with the regulations of the Investment Commission of the Ministry of Economic Affairs
The Company	287,140 (USD 9,800)	354,237 (USD 12,090)	856,139

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

Note1 - Reinvestment in mainland China through investment and establishment of companies in a third region.
Note2 - Reinvestment in mainland China companies by reinvesting in existing companies in a third region.
Note3 - Converted to New Taiwan dollar at the period end exchange rate on the financial reporting end date.
Note4 - Converted to New Taiwan dollar at the average exchange rate during the financial reporting period.
Note5 - Except for the investment gains and losses related to Shanghai Min Shi, which are recognized based on the invested's uneudited financial statements prepared for the same period, the remaining investment gains and losses are recognized based on the financial statements of the investees reviewed by certified public accountants appointed by the Taiwan parent company.
Note6 - Celestial Hong Kong made a reinvestment of US$0.5 thousand using its own funds and also made a reinvestment by contributing fixed assets.
Note7 - The difference from the amount of investment remitted by the Company is due to Celestial Hong Kong, Total Profit International, and all Success making reinvestments using their own funds totaling US$1,680 thousand.
Note8 - Celestial Chen Zhou completed the liquidation process in June 2018 and the investment amount was written off in July 2018.
Note9 - The above transactions have been eliminated in the preparation of the consolidated financial statements.
Note 10 - Shanghai Zhan Sheng, based on resolutions passed by the Board of Directors in July 2024 and September 2022, distributed cash dividends of RMB 1,500 thousand and RMB 7,000 thousand, respectively.
Note 11 - Kunshan Yi Guan, based on resolutions passed by the Board of Directors in July 2024 and September 2023, approved profit distributions, distributing cash dividends of RMB 14,250 thousand and RMB 15,818 thousand, respectively.
Note 11 - Huizhou Zhan Mao, based on a resolution passed by the Board of Directors in November 2024, approved a profit distribution and distributed cash dividends amounting to RMB 10,626 thousand.

Material transactions with mainland China investee companies:

For direct or indirect material transactions between the Group and mainland China investee companies as for the six months periods ended 30 June 2025 (eliminated in the preparation of the consolidated statements), please see the description detailed under the "Information on Material Transactions" as well as "Business relationships and significant intercompany transactions".

XIV. Segment information

The Group's operating segment information and reconciliation are as follows:

	For the three months ended 30 June, 2025
	Information services	Wire and connectors	Other segments	Adjustments and eliminations	Total
Revenue:
Revenue from external customers	$ 325,741	493,217	-	-	818,958
Interdepartmental revenue	1,901	222,997	-	(224,898)	-
Total revenue	$ 327,642	716,214	-	(224,898)	818,958
Segment (loss) profit	$ 25,484	10,310	-	(403)	35,391
	For the three months ended 30 June, 2024
---	---	---	---	---	---
	Information services	Wire and connectors	Other segments	Adjustments and eliminations	Total
Revenue:
Revenue from external customers	$ 278,266	581,442	-	-	859,708
Interdepartmental revenue	903	311,899	-	(312,802)	-
Total revenue	$ 279,169	893,341	-	(312,802)	859,708
Segment (loss) profit	$ 20,039	45,142	-	(3,394)	61,787

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

| | For the six months
ended 30 June, 2025 | | | | |
| --- | --- | --- | --- | --- | --- |
| | Information
services | Wire and
connectors | Other
segments | Adjustments
and
eliminations | Total |
| Revenue: | | | | | |
| Revenue from
external customers | $ 586,746 | 939,531 | - | - | 1,526,277 |
| Interdepartmental
revenue | 3,141 | 465,624 | - | (468,765) | - |
| Total revenue | $ 589,887 | 1,405,155 | - | (468,765) | 1,526,277 |
| Segment (loss) profit | $ 44,919 | (300) | - | (4,531) | 40,088 |
| Segment total assets | | | | | $ 3,010,568 |
| | For the six months
ended 30 June, 2024 | | | | |
| | Information
services | Wire and
connectors | Other
segments | Adjustments
and
eliminations | Total |
| Revenue: | | | | | |
| Revenue from
external customers | $ 580,720 | 1,032,327 | - | - | 1,613,047 |
| Interdepartmental
revenue | 1,919 | 506,406 | - | (508,325) | - |
| Total revenue | $ 582,639 | 1,538,733 | - | (508,325) | 1,613,047 |
| Segment (loss) profit | $ 42,322 | 67,401 | - | (3,579) | 106,144 |
| Segment total assets | | | | | $ 3,105,625 |

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WELLTEND — Interim / Quarterly Report 2025

52254_rns_2026-04-08_f42588cc-2efb-4b6c-a223-cf9a6b631553.pdf

Welltend Technology Corporation and Subsidiaries

Consolidated Financial Statements With Independent Auditors’ Review Report

Table of Contents

Introduction

Scope of Review

Basis for Qualified Conclusion

Qualified Conclusion

Notes to Readers

Welltend Technology Corporation and Subsidiaries

Consolidated Balance Sheet

Welltend Technology Corporation and Subsidiaries

Consolidated Statement of Comprehensive Income

Welltend Technology Corporation and Subsidiaries

Consolidated Statement of Changes in Equity

Welltend Technology Corporation and Subsidiaries

Consolidated Statement of Cash Flows

For the six months periods ended 30 June 2025 and 2024

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

(III) Income taxes

V. Significant accounting assumptions and judgments, and major sources of estimation uncertainty

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

(IV) Other Current and Non-current Assets

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

(V) Acquisition of subsidiary

1. Acquisition of subsidiary

(VI) Property, plant, and equipment

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

(IX) Other payables

(X) Lease liabilities

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

2. Treasury shares

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

2. Contract balances

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

(XVII) Financial instruments

1. Credit risk

(1) Amount of maximum credit risk exposure

(2) Concentration of credit risk

(3) Credit risk of receivables

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

2. Liquidity risk

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

5. Fair value information

(1) Type and fair value of financial instruments

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

2. Leases

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

VIII. Pledged assets

Notes to the Consolidated Financial Statements of Well­tend Technology Corporation and Subsidiaries (continued)

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

(II) Information on investees

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

(III) Information on investment in mainland China

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)

Notes to the Consolidated Financial Statements of Wellpend Technology Corporation and Subsidiaries (continued)

More from WELLTEND

WELLTEND Interim / Quarterly Report 2025

Notes to the Consolidated Financial Statements of Welltend Technology Corporation and Subsidiaries (continued)