Stock code: 3021

Welltend Technology Corporation and Subsidiaries Consolidated Financial Statements With Independent Auditors' Review Report

For the Three-Month Periods Ended March 31, 2026 and 2025

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

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Item	Page
1. Cover Page	1
2. Table of Contents	2
3. Independent Auditors' Review Report	3
4. Consolidated Balance Sheet	4
5. Consolidated Statement of Comprehensive Income	5
6. Consolidated Statement of Changes in Equity	6
7. Consolidated Statement of Cash Flows	7
8. Notes to the Consolidated Financial Statements	8
(1) Company history	8
(2) Approval date and procedures of the consolidated financial statements	8
(3) New standards, amendments, and interpretations adopted	8~9
(4) Summary of significant accounting policies	10~13
(5) Significant accounting assumptions and judgments, and major sources of estimation uncertainty	13
(6) Explanation of significant accounts	13~36
(7) Related-party transactions	36~38
(8) Pledged assets	38~39
(9) Significant commitments and contingencies	39
(10) Losses due to major disasters	39
(11) Significant subsequent events	39
(12) Other	39~40
(13) Other disclosures	40
1. Information on significant transactions	40~43
2. Information on investees	44
3. Information on investment in mainland China	45~46
(14) Segment information	46

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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 March 31, 2026 and 2025, and the consolidated statement of comprehensive income, consolidated statement of changes in equity, and consolidated statement of cash flows for the three-month periods ended March 31, 2026 and 2025, 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$ 351,420 thousand and NT$ 277,302 thousand, constituting 11% and 8% of the consolidated total assets, and total liabilities of NT$ 68,235 thousand and NT$ 64,127 thousand, constituting 5% and 4% of the consolidated total liabilities as of March 31, 2026 and 2025, respectively; and total comprehensive (loss) income of NT$ (7,234) thousand and NT$ 4,450 thousand, constituting 24% and 16% of the consolidated total comprehensive (loss) income for the three-month period ended March 31, 2026 and 2025, 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 March 31, 2026 and 2025, and their consolidated financial performance and cash flows for the three-month periods ended March 31, 2026 and 2025, 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.

The engagement partners on the reviews resulting in this independent auditors' review report are Yi-Wen Wang and Yu-Ting Hsin.

KPMG
Taipei, Taiwan (Republic of China)
May 12, 2026

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.

Weltend Technology Corporation and Subsidiaries

Consolidated Balance Sheet

31 March 2026, 31 December 2025 and 31 March 2025

Unit: NT$ thousand

Assets	2026.3.31		2025.12.31		2025.3.31		Liabilities and equity	2026.3.31		2025.12.31		2025.3.31
		Amount	%	Amount	%	Amount			%	Amount	%	Amount	%	Amount	%
Current assets:								Current liabilities:
1100	Cash and cash equivalents (Note 6 (1))	$ 922,086	32	1,006,189	31	1,038,176	32	2100	Short-term borrowings (Notes 6 (8), 7 and 8)	$ 656,000	21	720,000	22	790,000	24
1170	Net notes and accounts receivable (Notes 6 (2) and 6 (15))	677,131	21	762,112	24	729,514	22	2130	Current contract liabilities (Note 6 (15))	18,041	1	17,999	1	33,147	1
1300	Net inventories (Note 6 (3))	540,510	17	533,900	16	636,884	19	2170	Notes and accounts payable	422,287	13	456,202	14	376,038	11
1470	Other current assets (Note 6 (4) and 6 (15))	151,623	5	134,657	4	100,265	3	2200	Other payable (Notes 6 (9) and 7)	141,503	4	167,167	5	133,353	4
1476	Other financial assets - current (Note 6 (I), 6 (4), and 8)	53,058	2	51,762	2	57,742	2	2216	Dividends payable (Notes 6 (13))	56,934	2	-	-	28,767	1
		2,414,408	77	2,488,620	77	2,562,581	78	2230	Current Tax Liabilities	36,041	1	32,129	1	38,530	1
Non-current assets:								2280	Current lease liabilities (Notes 6 (10) and 7)	23,540	1	25,012	1	31,591	1
1600	Property, plant, and equipment (Notes 6 (6) and 8)	463,192	15	469,525	15	417,339	13	2300	Other current liabilities	23,743	1	30,673	1	24,415	1
1755	Right-of-use assets (Notes 6 (7) and 7)	98,994	3	103,656	3	123,694	4			1,378,089	44	1,449,182	45	1,455,841	44
1780	Intangible assets	44,458	1	45,261	1	41,401	1	Non-current liabilities:
1840	Deferred tax assets	6,549	-	6,623	-	6,700	-	2570	Deferred tax liabilities	57,328	2	57,364	2	56,938	2
1900	Other non-current assets (Note 6 (4), 6 (6), 7, and 8)	125,656	4	127,423	4	140,129	4	2580	Non-current lease liabilities (Notes 6 (10) and 7)	76,935	2	80,017	2	93,080	3
		738,849	23	752,488	23	729,263	22	2600	Other non-current liabilities	359	-	358	-	359	-
										134,622	4	137,739	4	150,377	5
										Total liabilities	1,512,711	48	1,586,921	49	1,606,218
										Equity attributable to owners of parent (Note 6 (13)):
								3100	Capital stock	948,900	30	948,900	29	958,900	29
								3200	Additional paid-in capital	7,494	-	7,661	-	7,675	-
								3300	Retained earnings	674,205	22	713,191	22	683,900	21
								3400	Other equity	(59,565)	(2)	(75,025)	(2)	(17,838)	(1)
										1,571,034	50	1,594,727	49	1,632,637	49
								36XX	Non-controlling interests	69,512	2	59,460	2	52,989	2
									Total equity	1,640,546	52	1,654,187	51	1,685,626	51
Total assets		$ 3,153,257	100	3,241,108	100	3,291,844	100	Total liabilities and equity		$ 3,153,257	100	3,241,108	100	3,291,844	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-month periods ended 31 March, 2026 and 2025

Unit: NT$ thousand

	For the three-month periods ended 31 March
		2026		2025
		Amount	%	Amount	%
4110	Operating revenue (Note 6 (15))	$ 703,860	100	707,319	100
5110	Operating costs (Notes 6 (3), 6 (10), 6 (11), 7, and 12 (1))	567,164	81	605,700	86
5910	Operating margin	136,696	19	101,619	14
	Operating expenses (Notes 6 (10), 6 (11), 6 (16), 7, and 12 (1)):
6100	Marketing expenses	35,796	5	35,163	5
6200	Management expenses	68,233	10	61,276	8
6450	Expected credit loss (Note 6 (2))	335	-	438	-
		104,364	15	96,922	13
6900	Operating profit	32,332	4	4,697	1
	Non-operating income and expenses:
7010	Other revenue	1,060	-	3,330	-
7100	Interest income	3,131	-	3,023	-
7230	Net foreign currency exchange gain (losses) (Note 6 (17))	(2,581)	-	(402)	-
7510	Interest expense (Notes 6 (10) and 7)	(3,796)	-	(3,812)	-
7590	Sundry expenses	(3,272)	-	(1,927)	-
		(5,458)	-	212	-
7900	Net profit before tax	26,874	4	4,909	1
7950	Less: Income tax expense (profit) (Note 6 (12))	11,025	2	11,922	2
	Net profit for the period	15,849	2	(7,013)	(1)
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	14,320	2	35,172	5
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	14,320	2	35,172	5
8300	Other comprehensive income for the period	14,320	2	35,172	5
	Total comprehensive income for the period	$ 30,169	4	28,159	4
	Net profit for the period attributable to:
8610	Owners of parent	$ 17,948	2	(5,722)	(1)
8620	Non-controlling interests	(2,099)	-	(1,291)	-
		$ 15,849	2	(7,013)	(1)
	Comprehensive income attributable to:
8710	Owners of parent	$ 33,408	4	28,776	4
8720	Non-controlling interests	(3,239)	-	(617)	-
		$ 30,169	4	28,159	4
	Earnings per share (Note 6 (14))
9750	Basic earnings per share (Unit: NT$)	$	0.19		(0.06)
9850	Diluted earnings per share (Unit: NT$)	$	0.19		(0.06)

(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 three-month periods ended 31 March, 2026 and 2025

Unit: NT$ thousand

Equity Attributable to the Parent Company

	Retained earnings						Other equity
	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	Total equity attributable to owners of the parent company	Non-controlling interests	Total equity
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:
Common stock cash dividend	-	-	-	-	(28,767)	(28,767)	-	(28,767)	-	(28,767)
	-	-	-	-	(28,767)	(28,767)	-	(28,767)	-	(28,767)
Net profit for the period	-	-	-	-	(5,722)	(5,722)	-	(5,722)	(1,291)	(7,013)
Other comprehensive income for the period	-	-	-	-	-	-	34,498	34,498	674	35,172
Total comprehensive income for the period	-	-	-	-	(5,722)	(5,722)	34,498	28,776	(617)	28,159
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 March 31, 2025	$ 958,900	7,675	124,615	132,533	426,752	683,900	(17,838)	1,632,637	52,989	1,685,626
Balance on January 1, 2026	$ 948,900	7,661	129,253	52,336	531,602	713,191	(75,025)	1,594,727	59,460	1,654,187
Earnings allocation and distribution:
Common stock cash dividend	-	-	-	-	(56,934)	(56,934)	-	(56,934)	-	(56,934)
	-	-	-	-	(56,934)	(56,934)	-	(56,934)	-	(56,934)
Net profit for the period	-	-	-	-	17,948	17,948	-	17,948	(2,099)	15,849
Other comprehensive income for the period	-	-	-	-	-	-	15,460	15,460	(1,140)	14,320
Total comprehensive income for the period	-	-	-	-	17,948	17,948	15,460	33,408	(3,239)	30,169
Changes in investments in subsidiaries and associates accounted for using the equity method	-	(167)	-	-	-	-	-	(167)	167	-
Change in non-controlling interests	-	-	-	-	-	-	-	-	13,124	13,124
Balance on March 31, 2026	$ 948,900	7,494	129,253	52,336	429,616	674,205	(59,565)	1,571,034	69,512	1,640,546

(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 three-month periods ended 31 March, 2026 and 2025

| | Unit: NT$ thousand
For the three-month periods ended
31 March | |
| --- | --- | --- |
| | 2026 | 2025 |
| Cash flows from operating activities: | | |
| Net profit before tax for the period | $ 26,874 | 4,909 |
| Adjustments: | | |
| Adjustments to reconcile profit (loss) | | |
| Depreciation expense | 22,015 | 18,934 |
| Amortization expense | 826 | 584 |
| Expected credit loss (gain) | 335 | 483 |
| Interest expense | 3,796 | 3,812 |
| Interest income | (3,131) | (3,023) |
| Other item | 397 | 2,872 |
| Total adjustments to reconcile profit (loss) | 24,238 | 23,662 |
| Changes in assets and liabilities related to operating activities: | | |
| Net changes in assets related to operating activities, net: | | |
| Notes and accounts receivable | 84,797 | 99,037 |
| Inventories | (6,610) | (28,120) |
| Other current assets | (17,342) | (20,927) |
| Other financial assets | (471) | (124) |
| Total net changes in assets related to operating activities | 60,374 | 49,866 |
| Changes in liabilities related to operating activities, net: | | |
| Contract liabilities | 42 | (6,519) |
| Notes and accounts payable | (33,915) | (81,724) |
| Other payable | (25,664) | (11,931) |
| Other current liabilities | (6,930) | (4,205) |
| Other liabilities related to operating activities | (66,467) | (104,379) |
| Net changes in assets and liabilities related to operating activities | (6,093) | (54,513) |
| Total adjustments | 18,145 | (30,851) |
| Cash inflows (outflow) generated from operations | 45,019 | (25,942) |
| Interest received | 3,106 | 3,139 |
| Interest paid | (3,796) | (3,842) |
| Income tax paid | (6,074) | (4,862) |
| Net cash inflows (outflow) from operating activities | 38,255 | (31,507) |
| Cash flows from investing activities: | | |
| Acquisition of property, plant, and equipment | (10,474) | (9,174) |
| Disposal of property, plant, and equipment | - | 228 |
| Decrease in refundable deposits | (753) | 2,580 |
| Acquisition of intangible assets | (51) | (101) |
| Decrease (Increase) in other financial assets | (663) | 37,399 |
| (Increase) Decrease in other non-current assets | (1,443) | (32,581) |
| Net cash outflows from investing activities | (13,384) | (1,649) |
| Cash flows from financing activities: | | |
| Increase in short-term borrowings | (64,000) | 92,000 |
| Repayment of lease liability principal | (8,242) | (8,073) |
| Change in non-controlling interests | 13,124 | 11,494 |
| Net cash (outflow) inflows from financing activities | (59,118) | 95,421 |
| Effect of exchange rate changes on cash and cash equivalents | 20,144 | 29,892 |
| Net increase in cash and cash equivalents for the period | (14,103) | 92,157 |
| Cash and cash equivalents at start of period | 1,006,189 | 946,019 |
| Cash and cash equivalents at end of period | $ 992,086 | 1,038,176 |

(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

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Welltend Technology Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

For the three-month periods ended 31 March, 2026 and 2025

(Amounts in Thousands of New Taiwan Dollars unless Specified Otherwise)

1. 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.

2. Approval date and procedures of the consolidated financial statements

The consolidated financial statements were authorized for issuance by the Board of Directors on May 12, 2026.

3. New standards, amendments and interpretations adopted

(1) 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, 2026:

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”

(2) 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 Wellpend 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, 2027
note : On September 25, 2025, the FSC issued a press release announcing that Taiwan will adopt IFRS 18 beginning in 2028. Entities that need to adopt the new standard earlier may do with the endorsement of the FSC. |

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

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

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

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

4. Summary of significant accounting policies

(1) 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, 2025. For the related information, please refer to Note 4 of the consolidated financial statements for the year ended December 31, 2025.

(2) 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, 2025, 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
			March 31, 2026	December 31, 2025	March 31, 2025
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	CELERAISÉ ELECTRONIC CORPORATION (CELERAISÉ)	Manufacture and sale of wire and cable connectors and connectors	100.00%	100.00%	100.00%	Note 2
The Company	CELERAISÉ (THAILAND) CO., LTD (THAILAND)	Manufacture and sale of wire and cable connectors and connectors	100.00%	100.00%	100.00%	Note 3
The Company	KING HONG Co., Ltd. (KING HONG)	International trade and other wholesale and retail trade	51.00%	51.00%	51.00%	Note 1

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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
			March 31, 2026	December 31, 2025	March 31, 2025
The Company	HONG YI CABLE CO., LTD. (HONG YI)	International trade and other wholesale and retail trade	54.00%	52.00%	52.00%	Note 1 - 6
The Company and JIUN TAI	Celeraise Investments Limited (Celeraise Hong Kong)	Manufacture and sale of wire and cable connectors and connectors	100.00%	100.00%	100.00%
The Company	Leadpak Industrial Co., Ltd. (Leadpak Industrial)	International trade and other wholesale and retail trade	100.00%	100.00%	100.00%	Note 1 - 4
The Company	Celeraise Technology Corporation (Celeraise Technology)	Automatic control equipment engineering industry, computer equipment installation industry, etc.	100.00%	100.00%	100.00%
A-Team	Minshi Computer Technology (Shanghai) Co., Ltd. (Shanghai Minshi)	R&D 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 Zhansheng Electronics Co., Ltd. (Shanghai Zhansheng)	Production of electronics, wire connectors, telephone spare parts and small household appliances; sale of the company's own products	100.00%	100.00%	100.00%
JIUN TAI	Welltrend Technology Co., Ltd. (Welltrend)	Manufacture and sale of wire and cable connectors and connectors	80.00%	80.00%	80.00%	Note 1
Celeraise Hong Kong	Yield Profit International Enterprise Limited (Yield Profit International)	Investment, trading, and holding company	100.00%	100.00%	100.00%

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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
			March 31, 2026	December 31, 2025	March 31, 2025
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 Zhansheng Electric Power Co., Ltd. (Shenzhen Zhansheng)	Manufacture and sale of wire and cable connectors and connectors	100.00%	100.00%	100.00%
Yield Profit International	Zhan Mao Electronics Enterprise (Huizhou) Co., Ltd. (Huizhou Zhan Mao)	Manufacture and sale of wire and cable connectors and connectors	100.00%	100.00%	100.00%
Jet Success	Kunshan Yiguan Electronic Technology Co., Ltd. (Kunshan Yiguan)	Manufacture and sale of wire and cable connectors and connectors	100.00%	100.00%	100.00%
HONG YI	CELERAISE ELECTRONIC INDIA PRIVATE LIMITED (Celeraise India)	Manufacturing and Sales of Wire and Cable Connectors and Terminals	70.00%	70.00%	-%	Note 1 - 5

Note1: The financial statements of certain non-significant subsidiaries were not 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: The Company purchased all the shares of Leadpak Industrial from the non-controlling interests in February 2025, increasing its shareholding to 100%.
Note5: HONG YI participated in the cash capital increase of Celeraise India on July 1, 2025, paying a total consideration of NT$ 26,345 thousand to acquire a 70% equity interest, thereby obtaining control over the investee.
Note6: The Company participated in Hong Yi's cash capital increase in March 2026, with a total consideration of NT$16,800 thousand paid. As the Company did not subscribe in proportion to its original shareholding percentage, its ownership interest increased to 54%, and capital surplus was adjusted and decreased by NT$167 thousand.

(3) 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

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

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.

5. 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, 2025. For related information, please refer to Note 5 of the consolidated financial statements for the year ended December 31, 2025.

6. 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 2025 consolidated financial statements. Please refer to Note 6 to the 2025 annual consolidated financial statements.

(I) Cash and cash equivalents

	March 31, 2026	December 31, 2025	March 31, 2025
Cash on hand	$ 1,087	1,073	1,189
Checks and demand deposits	740,217	760,574	884,027
Time deposits	250,782	244,542	152,960
	$ 992,086	1,006,189	1,038,176

As of March 31, 2026, December 31, 2025, and March 31, 2025, time deposits with original maturities exceeding three months held by the Group amounted to NT$ 23,139 thousand, NT$ 22,472 thousand and NT$ 22,855 thousand, respectively, were

~13~

~14~

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

recognized as 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).

(2) Notes and accounts receivable

	March 31, 2026	December 31, 2025	March 31, 2025
Notes receivable	$ 938	3,007	1,613
Accounts receivable	687,733	770,461	748,491
	688,671	773,468	750,104
Less: Loss allowance	(11,540)	(11,356)	(20,590)
	$ 677,131	762,112	729,514

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:

Credit rating	March 31, 2026
	Carrying amount of notes and accounts receivable	Weighted average expected credit loss ratio	Allowance for lifetime expected credit losses
Level A	$ 677,131	-%	-
Level B	11,540	100.00%	11,540
	$ 688,671		11,540
Credit rating	December 31, 2025
---	---	---	---
	Carrying amount of notes and accounts receivable	Weighted average expected credit loss ratio	Allowance for lifetime expected credit losses
Level A	$ 762,112	-%	-
Level B	11,356	100.00%	11,356
	$ 773,468		11,356

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

Credit rating	March 31, 2025
	Carrying amount of notes and accounts receivable	Weighted average expected credit loss ratio	Allowance for lifetime expected credit losses
Level A	$ 722,457	0.04%	286
Level B	27,647	73.44%	20,304
	$ 750,104		20,590

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

	March 31, 2026	December 31, 2025	March 31, 2025
Not yet past due	$ 647,660	724,322	646,136
0 to 90 days past due	29,342	37,524	75,160
90 to 180 days past due	129	266	4,526
More than 180 days past due	11,540	11,356	24,282
	$ 688,671	773,468	750,104

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

	For the three-month periods ended 31 March
	2026	2025
Opening balance at start of period	$ 11,356	19,750
Impairment losses recognized	335	483
Foreign exchange (losses)/ gains	(151)	357
Balance at end of period	$ 11,540	20,590

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 March 31, 2026, December 31, 2025, and March 31, 2025, the Group's notes and accounts receivable were not pledged as collateral.

~16~

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

(3) Inventories

	March 31, 2026	December 31, 2025	March 31, 2025
Raw materials	$ 316,890	316,615	380,650
Works in process	88,921	71,726	78,661
Finished goods	74,344	80,449	88,728
Goods held for sale	60,355	65,110	88,845
	$ 540,510	533,900	636,884

For the Group, the inventory costs and other operating costs recognized as cost of goods sold and expenses for the periods from January 1 to March 31, 2026 and 2025, were NT$ 561,542 thousand, and NT$ 592,807 thousand, respectively.
For the Group, the inventory write-downs to net realizable value recognized as inventory impairment losses amounted to NT$ 5,622 thousand, and NT$ 12,893 thousand for the periods from January 1 to March 31, 2026 and 2025, respectively, and have been included in cost of goods sold.
As of March 31, 2026, December 31, 2025, and March 31, 2025, the Group's inventories were not pledged as collateral.

(4) Other Current and Non-current Assets

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

1. Other current assets

	March 31, 2026	December 31, 2025	March 31, 2025
Tax balance carried forward	$ 50,284	52,849	44,304
Prepaid expense	14,316	14,619	28,260
Contract assets	52,038	39,952	-
Others	34,985	27,237	27,701
	$ 151,623	134,657	100,265

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

Other financial assets

	March 31, 2026	December 31, 2025	March 31, 2025
Restricted bank deposits	$ 21,500	21,504	28,483
Time deposits with original maturities of more than three months	23,139	22,472	22,855
Guarantee deposits paid	5,161	5,024	3,474
Interest receivable and others	3,258	2,762	2,930
	$ 53,058	51,762	57,742

Other non-current assets

	March 31, 2026	December 31, 2025	March 31, 2025
Guarantee deposits paid	$ 64,707	64,091	58,610
Prepaid equipment	58,471	60,815	54,846
Prepayment of investment	-	-	23,863
Others	2,478	2,517	2,810
	$ 125,656	127,423	140,129

The prepayments for equipment recognized by the Group arose from contracts entered into with non-related parties in August 2024 for the planned acquisition of land, buildings, and equipment. Please refer to Note 6 (6) for related information.

The Group prepaid an investment of NT$ 23,863 thousand in March 2025. For relevant information, please refer to Note 6 (5)

For the Group's other financial assets' credit risk information as of March 31, 2026, December 31, 2025, and March 31, 2025, please refer to Note 6(17).

(5) Acquisition of subsidiary

Acquisition of subsidiary

To expand its business in wire and cable connectors and terminals and to broaden its market presence in India, Celeraise Electronics India Private Limited ("Celeraise India") was established in January 2025 through a cash investment of NT$ 3 thousand (INR$ 10 thousand) made by a local individual. On July 1, 2025, the Group further participated in Celeraise India's cash capital increase with an

~17~

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

additional investment of NT$ 26,345 thousand (INR$ 67,550 thousand), thereby acquiring a 70% equity interest and obtaining control over the company.

Of the aforementioned investment amount, the Group prepaid an investment amount of NT$ 23,863 thousand (INR$ 67,550 thousand) to Celeraise India in March 2025, which was recognized under other non-current assets

(6) 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, 2026	$ 211,361	161,068	396,671	164,810	933,910
Add	-	160	8,047	2,267	10,474
Disposal	-	-	(2,803)	(11)	(2,814)
Transfers	-	203	395	(744)	(146)
Effect of changes in exchange rates	(1,707)	(1,346)	5,250	585	2,782
Balance on March 31, 2026	$ 209,654	160,085	407,560	166,907	944,206
Balance on January 1, 2025	$ 208,518	158,124	344,695	162,649	873,986
Add	-	-	3,342	5,832	9,174
Disposal	-	-	-	(4,889)	(4,889)
Transfers	-	-	(1,773)	(1,095)	(2,868)
Effect of changes in exchange rates	1,564	1,869	6,855	2,646	12,934
Balance on March 31, 2025	$ 210,082	159,993	353,119	165,143	888,337
Depreciation:
Balance on January 1, 2026	$ -	68,502	284,027	111,856	464,385
Depreciation	-	1,461	7,409	4,811	13,681
Transfers	-	-	75	(81)	(6)
Disposal	-	-	(2,546)	(11)	(2,557)
Effect of changes in exchange rates	-	(215)	4,751	975	5,511
Balance on March 31, 2026	$ -	69,748	293,716	117,550	481,014
Balance on January 1, 2025	$ -	62,094	269,397	125,628	457,119
Depreciation	-	1,426	5,041	4,188	10,655
Disposal	-	-	-	(4,657)	(4,657)
Effect of changes in exchange rates	-	488	5,333	2,060	7,881
Balance on March 31, 2025	$ -	64,008	279,771	127,219	470,998

~18~

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:
January 1, 2026	$ 211,361	92,566	112,644	52,954	469,525
March 31, 2026	$ 209,654	90,337	113,844	49,357	463,192
January 1, 2025	$ 208,518	96,030	75,298	37,021	416,867
March 31, 2025	$ 210,082	95,985	73,348	37,924	417,339

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 March 31, 2026 December 31, 2025, and March 31, 2025, advance payments amounted to NT$ 39,178 thousand, NT$ 40,057 thousand and NT$ 39,360 thousand, respectively (both representing THB$ 40,000 thousand) and were presented under other non-current assets.

Please see Note 8 for details of circumstances in which property, plant and equipment of the Group were used to provide loans and financing and guarantees for customs duties as of March 31, 2026, December 31, 2025, and March 31, 2025.

(7) 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, 2026	$ 144,722	6,607	151,329
Add	-	1,804	1,804
Disposal	(17,989)	(707)	(18,696)
Effect of changes in exchange rates	2,782	(146)	2,636
Balance on March 31, 2026	$ 129,515	7,558	137,073
Balance on January 1, 2025	$ 108,316	6,858	115,174
Add	92,944	-	92,944
Disposal	(60,946)	-	(60,946)

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

	Buildings	Transportation equipment and others	Total
Effect of changes in exchange rates	2,536	118	2,654
Balance on March 31, 2025	$ 142,850	6,976	149,826
Right-of-use asset depreciation:
Balance on January 1, 2026	$ 45,915	1,758	47,673
Depreciation	7,934	400	8,334
Disposal	(17,989)	(707)	(18,696)
Effect of changes in exchange rates	791	(23)	768
Balance on March 31, 2026	$ 36,651	1,428	38,079
Balance on January 1, 2025	$ 75,589	2,288	77,877
Depreciation	7,887	392	8,279
Disposal	(60,946)	-	(60,946)
Effect of changes in exchange rates	866	56	922
Balance on March 31, 2025	$ 23,396	2,736	26,132
Carrying amounts:
January 1, 2026	$ 98,807	4,849	103,656
March 31, 2026	$ 92,864	6,130	98,994
January 1, 2025	$ 32,727	4,570	37,297
March 31, 2025	$ 119,454	4,240	123,694

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$ 89,092 thousand (RMB$ 20,583 thousand). For details, please refer to Note 7.

As of March 31, 2026, December 31, 2025, and March 31, 2025, the Group's leasing of factories and offices from other related parties is disclosed in Note 7.

(8) Short-term loans

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

	March 31, 2026	December 31, 2025	March 31, 2025
Non-Secured bank loans	$ 60,000	207,000	195,000
Secured bank loans	596,000	513,000	595,000
Total	$ 656,000	720,000	790,000
Unused credit line	$ 734,000	670,000	388,000

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

| | March
31, 2026 | December
31, 2025 | March
31, 2025 |
| --- | --- | --- | --- |
| Interest rate | 1.835%~2.25% | 1.835%~2.25% | 1.835%~2.25% |

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 8.

(9) Other payables

Details of Other payables of the Group are as follows:

| | March
31, 2026 | December
31, 2025 | March
31, 2025 |
| --- | --- | --- | --- |
| Accrued salaries and annual bonuses | $ 78,262 | 105,510 | 74,906 |
| Accrued directors' remuneration and employees' compensation | 4,499 | 5,081 | 7,490 |
| Other payable – related parties | 19,910 | 14,226 | 14,122 |
| Other expenses payable | 38,832 | 42,350 | 36,835 |
| | $ 141,503 | 167,167 | 133,353 |

Other expenses payable mainly constitute payables in the form of labor fees, service fees, health and labor insurance, transport fees, and related miscellaneous expenses payable.

(10) Lease liabilities

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

| | March
31, 2026 | December
31, 2025 | March
31, 2025 |
| --- | --- | --- | --- |
| Current | $ 23,540 | 25,012 | 31,591 |
| Non-current | $ 76,935 | 80,017 | 93,080 |

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

Amounts recognized as profit or loss are as follows:

~22~

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

	For the three-month periods ended 31 March
	2026	2025
Interest expense on lease liabilities	$ 454	557
Gains from sublease of right-of-use assets	$ 192	189
Expenses related to short term leases	$ 161	165
Expenses related to leases of low value assets (excluding short term leases of low value assets)	$ 61	60

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

	For the three-month periods ended 31 March
	2026	2025
Total cash flows from leases	$ 8,918	8,855

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 3 to 20 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 with lease terms ranging from 4 to 5 years.

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

In addition, the Group leases offices, office equipment, and transportation equipment with lease terms of one year or less. Such leases qualify as short-term leases or leases of low-value assets, and the Group has elected to apply the recognition exemption, accordingly not recognizing the related right-of-use assets and lease liabilities.

(11) Employee benefits

The pension expenses of the Company and its subsidiaries within the jurisdiction of the Republic of China as for the three-month periods ended 31 March 2026 and 2025 defined pension contributions were NT$ 3,573 thousand and NT$ 3,254 thousand respectively and were transferred to the Bureau of Labor Insurance.

~23~

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

Other subsidiaries included in the preparation of the consolidated financial statements recognized defined pension contributions and endowment insurance premiums of NT$ 3,437 thousand and NT$ 3,612 thousand as for the three-month periods ended 31 March 2026 and 2025, respectively.

(12) Income taxes

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

	For the three-month periods ended 31 March
	2026	2025
Income tax expense for the current period:
Incurred during the period	$ 10,986	8,627
Adjustment to prior years' current income tax	-	-
	10,986	8,627
Deferred tax expense
Origination and reversal of temporary differences	39	3,295
Income tax expense	$ 11,025	11,922

The corporate income tax returns of the Company, Celeraise Technology, and Leadpak Industrial have been assessed and approved by the tax authorities through the 2023 fiscal year.

(13) 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 March 31, 2026 and 2025. For related information, please refer to Note 6 (13) of the 2025 consolidated financial statements.

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

Additional paid-in capital

The Company's capital surplus are as follows:

| | March
31, 2026 | December
31, 2025 | March
31, 2025 |
| --- | --- | --- | --- |
| Capital Surplus – Share Premium | $ 1,261 | 1,261 | 1,275 |
| Difference between the actual acquisition or disposal price of subsidiary shares and their carrying amount | 150 | 150 | 150 |
| Share of changes in net assets of subsidiaries and associates accounted for using the equity method | 6,083 | 6,250 | 6,250 |
| | $ 7,494 | 7,661 | 7,675 |

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.

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.

~24~

~25~

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

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 respectively passed resolutions of the Board of Directors on the amount of cash dividends under appropriation of earnings for 2025 and 2024 on March 11, 2026, and March 26, 2025. The amount distributed as dividends to shareholders is as follows:

	2025		2024
	Dividend rate (NT$)	Amount	Dividend rate (NT$)	Amount
Dividends distributed to owners of ordinary shares:
Cash dividend	$ 0.60	$ 56,934	0.30	$ 28,767

(14) Earnings per share

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

	For the three-month periods ended 31 March
	2026	2025
Basic earnings per share:
Net profit attributable to holders of ordinary shares of the Company	$ 17,948	(5,722)
Weighted average number of ordinary shares outstanding (thousand shares)	94,890	95,890
Basic earnings per share (NT$)	$ 0.19	(0.06)

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

	For the three-month periods ended 31 March
	2026	2025
Diluted earnings per share:
Net profit attributable to holders of ordinary shares of the Company (diluted)	$ 17,948	(5,722)
Weighted average number of ordinary shares outstanding (basic) (thousand shares)	94,890	95,890
Impact of employee stock remuneration	135	-
Weighted average number of ordinary shares outstanding (diluted) (thousand shares)	95,025	95,890
Diluted earnings per share (NT$)	$ 0.19	(0.06)

(15) Revenue from customer contracts

Details of revenue

	For the three-month periods ended 31 March 2026
	Information Services Department	Wire & Connectors Department	Total
Primary regional markets:
Taiwan	$ 197,320	10,628	207,948
Mainland China	-	274,904	274,904
Philippines	-	116,165	116,165
Thailand	-	104,843	104,843
	$ 197,320	506,540	703,860
	For the three-month periods ended 31 March 2025
---	---	---	---
	Information Services Department	Wire & Connectors Department	Total
Primary regional markets:
Taiwan	$ 261,005	5,602	266,607
Mainland China	-	200,926	200,926
Philippines	-	140,218	140,218
Thailand	-	99,568	99,568
	$ 261,005	446,314	707,319

~27~

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

2. Contract balances

	March 31, 2026	December 31, 2025	March 31, 2025
Notes receivable	$ 938	3,007	1,613
Accounts receivable	687,733	770,461	748,491
Less: Loss allowance	(11,540)	(11,356)	(20,590)
	$ 677,131	762,112	729,514
Contract assets (classified under other current assets)	$ 52,038	39,952	-
Contract liabilities	$ 18,041	17,999	33,147

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

The beginning balances of contract liabilities as of January 1, 2026 and January 1, 2025, and the amounts recognized as revenue during the periods from January 1 to March 31, 2026 and 2025, amounted to NT$ 4,456 thousand and NT$ 12,316 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.

(16) Remuneration of employees and of directors

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.

~28~

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

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.

For the period from January 1 to March 31, 2026, the Company accrued employees' compensation of NT$ 666 thousand (including compensation to junior employees) and directors' remuneration of NT$ 666 thousand. The accruals were estimated based on the Company's profit before tax for the respective period, prior to deduction of employees' compensation and directors' remuneration, after offsetting accumulated losses, multiplied by the distribution percentages prescribed in the Company's Articles of Incorporation, and were recognized as operating expenses for the respective period. If employees' compensation is resolved by the Board of Directors to be distributed in shares, the number of shares to be distributed shall be calculated based on the closing market price on the day preceding the Board resolution.

For the period from January 1 to March 31, 2025, the Company incurred a net loss before tax; therefore, no employees' compensation or directors' remuneration was accrued.

The Company's accrued employee compensation for the fiscal years 2025 and 2024 amounted to NT$ 2,000 thousand and NT$ 3,000 thousand, respectively. The accrued directors' remuneration for the same periods was also NT$ 2,000 thousand and NT$ 3,000 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).

(17) Financial instruments

Except for the contention mentioned below, there was no significant change in the fair value of the Group's financial instruments and degree of exposure to credit risk, liquidity risk and market risk arising from financial instruments. For related information, please refer to note 6 (17) to the consolidated financial statements for the year ended December 31, 2025.

1. Credit risk

(1) Amount of maximum credit risk exposure

The carrying amounts of financial assets and contract assets represent the

~29~

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

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 details of credit risk exposure information and credit impairment of notes receivable and accounts receivable, please refer to Note 6 (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
March 31, 2026
Non-derivative financial liabilities
Short-term bank loans	$ 656,000	(657,747)	(657,747)	-	-
Notes and accounts payable	422,287	(422,287)	(422,287)	-	-
Other payable	141,503	(141,503)	(141,503)	-	-
Dividends payable	56,934	(56,934)	(56,934)	-	-
Lease liabilities - current and non-current	100,475	(104,815)	(25,097)	(24,800)	(54,918)
Deposits paid (classified under other non-current liabilities)	359	(359)	-	-	(359)
	$ 1,377,558	(1,383,645)	(1,303,568)	(24,800)	(55,277)

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

	Carrying amount	Contractual cash flows	Within 1 year	1 to 2 years	Over 2 years
December 31, 2025
Non-derivative financial liabilities
Short-term bank loans	$ 720,000	(722,518)	(722,518)	-	-
Notes and accounts payable	456,202	(456,202)	(456,202)	-	-
Other payable	167,167	(167,167)	(167,167)	-	-
Lease liabilities - current and non-current	105,029	(109,694)	(26,617)	(23,879)	(54,918)
Deposits paid (classified under other non-current liabilities)	358	(358)	-	-	(358)
	$ 1,448,756	(1,455,939)	(1,372,504)	(23,879)	(59,556)
	Carrying amount	Contractual cash flows	Within 1 year	1 to 2 years	Over 2 years
March 31, 2025
Non-derivative financial liabilities
Short-term bank loans	$ 790,000	(791,047)	(791,047)	-	-
Notes and accounts payable	376,038	(376,038)	(376,038)	-	-
Other payable	133,353	(133,353)	(133,353)	-	-
Dividends payable	28,767	(28,767)	(28,767)	-	-
Lease liabilities - current and non-current	124,671	(130,726)	(33,497)	(22,849)	(74,380)
Deposits paid (classified under other non-current liabilities)	359	(359)	-	-	(359)
	$ 1,453,188	(1,460,290)	(1,362,702)	(22,849)	(74,739)

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:

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

Foreign currency unit: $ thousand

	March 31, 2026			December 31, 2025			March 31, 2025
	Foreign currency	Exchange rate	TWD	Foreign currency	Exchange rate	TWD	Foreign currency	Exchange rate	TWD
Financial assets
Monetary items
USD	$ 6,220	USD/TWD	199,015	8,764	USD/TWD	275,451	7,212	USD/TWD	239,423
		=31.995			=31.430			=33.205
USD	13,982	USD/RMB	447,346	14,177	USD/RMB	445,589	14,598	USD/RMB	484,722
		=6.912			=6.991			=7.261
USD	23,378	USD/HKD	747,983	23,032	USD/HKD	723,890	19,990	USD/HKD	663,764
		=7.840			=7.784			=7.780
USD	7,550	USD/PHP	241,572	6,602	USD/PHP	207,510	5,683	USD/PHP	188,714
		=60.712			=58.858			=57.250
USD	2,443	USD/THB	78,153	2,044	USD/THB	64,230	2,392	USD/THB	79,436
		=32.715			=31.367			=33.745
Financial liabilities
Monetary items
USD	572	USD/TWD	18,297	557	USD/TWD	17,508	1,632	USD/TWD	54,197
		=31.995			=31.430			=33.205
USD	1,649	USD/RMB	52,755	1,852	USD/RMB	58,205	1,314	USD/RMB	43,641
		=6.912			=6.991			=7.261
USD	7,227	USD/HKD	231,227	7,358	USD/HKD	231,277	5,727	USD/HKD	190,156
		=7.840			=7.784			=7.780
USD	3,339	USD/PHP	106,838	3,057	USD/PHP	96,093	4,834	USD/PHP	160,507
		=60.712			=58.858			=57.250
USD	7,636	USD/THB	244,319	7,295	USD/THB	229,296	6,493	USD/THB	215,585
		=32.715			=31.367			=33.745

(2) Sensitivity analysis

The exchange rate risk of the Group's monetary items mainly comes from cash and cash equivalents, accounts receivable, other receivable, loans, accounts payable, and other payable denominated in foreign currencies which generate foreign currency exchange gains and losses at the time of translation. If foreign currencies had depreciated or appreciated by 5% against the TWD, RMB, HKD, PHP, and THB as of March 31, 2026, and 2025, then with all other factors remaining constant the impact on income as for the three-month periods ended 31 March 2026 and 2025 would be as follows:

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

	March 31, 2026	March 31, 2025
USD (versus TWD)
Appreciate 5%	$ 9,036	9,261
Depreciate 5%	(9,036)	(9,261)
USD (versus RMB)
Appreciate 5%	19,730	22,054
Depreciate 5%	(19,730)	(22,054)
USD (versus HKD)
Appreciate 5%	25,838	23,680
Depreciate 5%	(25,838)	(23,680)
USD (versus PHP)
Appreciate 5%	6,737	1,410
Depreciate 5%	(6,737)	(1,410)
USD (versus THB)
Appreciate 5%	(8,308)	(6,807)
Depreciate 5%	8,308	6,807

(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 ended 31 March 2026, and 2025, the net exchange gains (loss) (including realized and unrealized) amounted to NT$ (2,581) thousand and NT$ (402) thousand, respectively.

Interest rate analysis

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

	March 31, 2026	December 31, 2025	March 31, 2025
Variable rate instruments (book amounts):
Financial assets	$ 784,784	804,479	935,291
Financial liabilities	656,000	720,000	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

~33~

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

liabilities on the reporting date have been outstanding for the whole year. The Group's internal key management reports increase and decrease 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 three-month periods ended 31 March 2026 and 2025 would be as follows, mainly due to the Group's variable interest rate demand deposits and borrowings:

	For the three-month periods ended 31 March
	2026	2025
Interest rates increase by 25 bps	$ 80	(150)
Interest rates decrease by 25 bps	(80)	150

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):

	March 31, 2026
	Carrying amount	Fair value
		Level 1	Level 2	Level 3	Total
Financial assets measured at amortized cost
Cash and cash equivalents	$ 992,086	-	-	-	-
Net notes and accounts receivable	677,131	-	-	-	-
Other financial assets - current	53,058	-	-	-	-
Other financial assets - non-current	64,707	-	-	-	-
	$ 1,786,982
Financial liabilities measured at amortized cost
Bank loans	$ 656,000	-	-	-	-
Notes and accounts payable	422,287	-	-	-	-
Other payable	141,503	-	-	-	-

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

	March 31, 2026
	Carrying amount	Fair value
		Level 1	Level 2	Level 3	Total
Dividends payable	56,934	-	-	-	-
Lease liabilities - current	23,540	-	-	-	-
Lease liabilities - non-current	76,935	-	-	-	-
Guarantee deposits paid (classified as other non-current liabilities)	359	-	-	-	-
	$ 1,377,558
	December 31, 2025
---	---	---	---	---	---
	Carrying amount	Fair value
		Level 1	Carrying amount	Level 1	Carrying amount
Financial assets measured at amortized cost
Cash and cash equivalents	$ 1,006,189	-	-	-	-
Net notes and accounts receivable	762,112	-	-	-	-
Other financial assets - current	51,762	-	-	-	-
Other financial assets - non-current	64,091	-	-	-	-
	$ 1,884,154
Financial liabilities measured at amortized cost
Bank loans	$ 720,000	-	-	-	-
Notes and accounts payable	456,202	-	-	-	-
Other payable	167,167	-	-	-	-
Lease liabilities - current	25,012	-	-	-	-
Lease liabilities - non-current	80,017	-	-	-	-
Guarantee deposits paid (classified as other non-current liabilities)	358	-	-	-	-
	$ 1,448,756
	March 31, 2025
---	---	---	---	---	---
	Carrying amount	Fair value
		Level 1	Carrying amount	Level 1	Carrying amount
Financial assets measured at amortized cost
Cash and cash equivalents	$ 1,038,176	-	-	-	-
Net notes and accounts receivable	729,514	-	-	-	-
Other financial assets - current	57,742	-	-	-	-
Other financial assets - non-current	58,610	-	-	-	-
	$ 1,884,042

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

	March 31, 2025
	Carrying amount	Fair value
		Level 1	Carrying amount	Level 1	Carrying amount
Financial liabilities measured at amortized cost
Bank loans	$ 790,000	-	-	-	-
Notes and accounts payable	376,038	-	-	-	-
Other payable	133,353	-	-	-	-
Dividends payable	28,767	-	-	-	-
Lease liabilities - current	31,591	-	-	-	-
Lease liabilities - non-current	93,080	-	-	-	-
Guarantee deposits paid (classified as other non-current liabilities)	359	-	-	-	-
	$ 1,453,188

(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.

(18) Financial risk management

The Group's objectives, policies and processes of capital management are the same as those disclosed in the note 6 (18) of the consolidated financial statements for the year ended December 31, 2025.

(19) Capital management

The Group's objectives, policies and processes of capital management are the same as those disclosed in the consolidated financial statements for the year ended December 31, 2025. There were no significant changes of quantitative data of capital management compared to the consolidated financial statements for the year ended December 31, 2025. Please refer to note 6 (19) of the consolidated financial statements for the year ended December 31, 2025.

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

The Group's non-cash transaction investment and financing activities as for the three-month periods ended 31 March 2026, and 2025 were undertaken to obtain right-of-use assets via leasing; please refer to Note 6 (7) for details.

Reconciliation of liabilities from financing activities is as follows:

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

	Non-cash changes
	January 1, 2026	Cash flows	Others	Exchange rate changes	March 31, 2026
Short-term loans	$ 720,000	(64,000)	-	-	656,000
Deposits received	358	-	-	1	359
Lease liabilities	105,029	(8,242)	1,804	1,884	100,475
Total liabilities from financing activities	$ 825,387	(72,242)	1,804	1,885	756,834
	Non-cash changes
	January 1, 2025	Cash flows	Others	Exchange rate changes	March 31, 2025
Short-term loans	$ 698,000	92,000	-	-	790,000
Deposits received	358	-	-	1	359
Lease liabilities	38,048	(8,073)	92,944	1,752	124,671
Total liabilities from financing activities	$ 736,406	83,927	92,444	1,753	915,030

7. Related party transactions

(1) 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

(2) 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:

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

Accounts	Related party category	March 31, 2026	December 31, 2025	March 31, 2025
Other payable	Key management personnel of the Group	$ 4,210	4,061	3,784
〃	Other related parties	15,700	10,165	10,338
		$ 19,910	14,226	14,122

2. Leases

(1) During 2025, the Group continued to lease factory buildings, parking spaces, and offices from other related parties – Year Jan. The rental rates were determined based on prevailing market conditions. A one-year lease agreement was entered into with an expected renewal period of four years, and the total contract value amounted to NT$ 11,537 thousand.

(2) In January 2025, the Group continued to lease factory buildings from other related parties – Kunshan Ming Mao. The rental rates were determined based on prevailing market conditions. A one-year lease agreement was entered into with an expected renewal period of four years, and the total contract value amounted to NT$ 89,092 thousand (RMB$ 20,583 thousand).

(3) In January 2019, the Group continued to lease factory buildings from other related parties – ILOFA. The rental rates were determined based on prevailing market conditions. A two-year lease agreement was entered into with an expected renewal period of twenty years, and the total contract value amounted to NT$ 27,701 thousand.

(4) In May 2023, the Group leased offices from key management personnel. The rental rates were determined based on prevailing market conditions. A three-year lease agreement was entered into with an expected renewal period of three years, and the total contract value amounted to NT$ 2,819 thousand. As of March 31, 2026, December 31, 2025, and March 31, 2025, refundable deposits of HKD$ 18 thousand were recognized under other non-current assets.

~38~

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

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

	Lease liability balance			Interest expense
	March 31, 2026	December 31, 2025	March 31, 2025	For the three-months ended 31 March
				2026	2025
YEAR JAN	$ 8,652	9,190	4,944	40	23
Kunshan Ming Mao	72,241	74,666	89,581	335	412
ILOFA	14,779	15,244	17,425	52	60
Senior management	82	322	1,101	1	4
	$ 95,754	99,422	113,051	428	499

(3) Key management personnel transactions

Compensation of key management personnel includes:

	For the three-month periods ended 31 March
	2026	2025
Short-term employee benefits	$ 7,480	6,549

Guarantees provided

The total credit facilities under the consolidated company's loan agreements amounted to NT$ 1,390,000 thousand, NT$ 1,390,000 thousand, and NT$ 1,178,000 thousand as of March 31, 2026, December 31, 2025, and March 31, 2025, respectively, with Mr. Yun-Teng Chang acting as a joint guarantor.

8. Pledged assets

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

Asset name	Purpose of pledge	March 31, 2026	December 31, 2025	March 31, 2025
Property, plant, and equipment - land	short-term loans	$ 140,142	140,142	140,142
Property, plant, and equipment - buildings	short-term loans	32,548	32,957	34,183
Restricted bank deposits
(accounted for as other financial assets - current)	short-term loans	21,500	21,504	27,000
Restricted bank deposits
(accounted for as other financial assets - current)	Litigation security deposit	-	-	1,483

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

Asset name	Purpose of pledge	March 31, 2026	December 31, 2025	March 31, 2025
Deposits made (accounted for as other financial assets - current)	Performance guarantees and bid deposits	5,161	5,024	3,474
Deposits made (accounted for as other non-current assets)	Performance guarantees and bid deposits	64,707	64,091	58,610
		$ 264,058	263,718	264,892

9. Significant commitments and contingencies:

(I) Significant commitments

	March 31, 2026	December 31, 2025	March 31, 2025
Contracted but unpaid amounts for property and equipment	$ 79,759
(THBS 81,553 thousand)	81,716
(THBS 81,553 thousand)	90,285
(THBS 81,553 thousand)

10. Losses due to major disasters: None.

11. Significant subsequent events: None.

12. Other

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

| Function
Nature | For the three-month periods ended 31 March, 2026 | | | For the three-month periods ended 31 March, 2025 | | |
| --- | --- | --- | --- | --- | --- | --- |
| | Under operating costs | Under operating expenses | Total | Under operating costs | Under operating expenses | Total |
| Employee benefit expense | | | | | | |
| Salary expense | 111,002 | 60,115 | 171,117 | 99,170 | 52,936 | 152,106 |
| Health and labor insurance expense | 6,582 | 4,447 | 11,029 | 6,671 | 3,819 | 10,490 |
| Pension expense | 4,564 | 2,446 | 7,010 | 4,589 | 2,277 | 6,866 |
| Other employee benefit expense | 4,691 | 3,838 | 8,529 | 4,176 | 3,418 | 7,594 |
| Depreciation expense | 17,618 | 4,397 | 22,015 | 13,884 | 5,050 | 18,934 |
| Amortization expense | - | 826 | 826 | - | 584 | 584 |

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

The Group's operations were not affected by seasonality or cyclicality factors.
Other disclosures

(1) 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 2026:

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 (ins)
													Name	Value
1	Jun Tai	THAILAND	Other receivables	Y	22,397	22,397	22,397	4.0%	Short-term financing	-	Operating turnover	-	None	-	114,004	285,010
1	Jun Tai	Yield Profit International	Other receivables	Y	23,756	-	-	1.5%	Short-term financing	-	Operating turnover	-	None	-	114,004	285,010
2	Celerase Hong Kong	THAILAND	Other receivables	Y	78,388	78,388	78,388	4.0%	Short-term financing	-	Operating turnover	-	None	-	435,710	1,089,276
2	Celerase Hong Kong	Jun Tai	Other receivables	Y	19,197	19,197	19,197	4.0%	Short-term financing	-	Operating turnover	-	None	-	435,710	1,089,276
3	Shenzhen Zhan Sheng	Huizhou Zhan Mao	Other receivables	Y	32,403	32,403	32,403	1.5%	Short-term financing	-	Operating turnover	-	None	-	175,995	175,995
4	Huizhou Zhan Mao	THAILAND	Other receivables	Y	88,078	88,078	88,078	-%	Short-term financing	-	Operating turnover	-	None	-	166,714	416,786
4	Huizhou Zhan Mao	CELERAISE ELECTRONIC CORPORATION	Other receivables	Y	67,796	67,796	67,796	-%	Short-term financing	-	Operating turnover	-	None	-	166,714	416,786
5	Kunshan Yi Guan	THAILAND	Other receivables	Y	10,320	10,320	10,320	-%	Short-term financing	-	Operating turnover	-	None	-	70,914	177,284
6	Shanghai Zhan Sheng	Kunshan Yi Guan	Other receivables	Y	37,032	37,032	37,032	2.0%	Short-term financing	-	Operating turnover	-	None	-	41,682	104,205

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

Note 3: 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 Celerase 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 4: In accordance with Huizhou Zhan Mao's "Operational Procedures for Loaning Funds to Others", the total amount of funds loaned may not exceed 100% of Huizhou Zhan Mao's net value. If there is a need for short-term financing with Huizhou Zhan Mao, the loan amount may not exceed 100% of Huizhou Zhan Mao's net value. Separately, the total amount of intercompany loans where Huizhou Zhan Mao does not directly or indirectly hold 100% of the voting shares may not exceed 40% of the net value.

Note 5: In accordance with Kunshan Yi Guan's "Operational Procedures for Loaning Funds to Others", the total amount of funds loaned may not exceed 100% of Kunshan Yi Guan's net value. If there is a need for short-term financing with Kunshan Yi Guan, the loan amount may not exceed 100% of Kunshan Yi Guan's net value. Separately, the total amount of intercompany loans where Kunshan Yi Guan does not directly or indirectly hold 100% of the voting shares may not exceed 40% of the net value.

Note 6: In accordance with Shanghai Zhan Sheng's "Operational Procedures for Loaning Funds to Others", the total amount of funds loaned may not exceed 100% of Shanghai Zhan Sheng's net value. If there is a need for short-term financing with Shanghai Zhan Sheng, the loan amount may not exceed 100% of Shanghai Zhan Sheng's net value. Separately, the total amount of intercompany loans where Shanghai Zhan Sheng does not directly or indirectly hold 100% of the voting shares may not exceed 40% of the net value.

Note 7: The above transactions have been eliminated in the preparation of the consolidated financial statements.

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	Celerase Technology	Subsidiary of the Company	1,571,034	80,068	80,068	-	-	5.09%	1,571,034	Y	N	N
1	Celerase Technology	The Company	Parent company	355,615	78,717	78,717	78,717	-	110.68%	355,615	N	Y	N

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

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: None.

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 rate	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	(sole)	(103,163)	(73) %	Monthly statement, 120 days after month end, payments/selection 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 30-35 days after the month end for regular customers.	173,338	73 %	Note1
Celeraise Hong Kong	Huizhou Zhan Mao	Ultimate parent company is the same	purchase	122,163	74 %	Monthly statement, 120 days after month end, payments/selection 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 30-35 days after the month end for regular customers.	(172,338)	(78) %	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 Zhanmao	Celeraise Hong Kong	Ultimate parent company is the same	172,338	2.84

Note 1: Information up to April 30, 2026.
Note 2: The transactions listed on the left have been eliminated in the preparation of the consolidated financial statements.

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	32,298	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	4.59%
1	Celeraise Hong Kong	Huizhou Zhan Mao	3	Accounts receivable	42,883	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	1.36%
1	Celeraise Hong Kong	THAILAND	3	Sales revenue	284	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	0.04%
1	Celeraise Hong Kong	THAILAND	3	Other receivables (Note 3)	79,827	Interest rate 4.0%	2.53%
1	Celeraise Hong Kong	Jun Tai	3	Other receivables (Note 3)	20,078	Interest rate 4.0%	0.64%
2	Kunshan Yi Guan	Shanghai Zhan Sheng	3	Sales revenue	8,109	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	1.15%

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
2	Kunshan Yi Guan	Shanghai Zhan Sheng	3	Accounts receivable	15,402	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	0.49%
2	Kunshan Yi Guan	Celeraise Hong Kong	3	Sales revenue	11,885	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	1.69%
2	Kunshan Yi Guan	Celeraise Hong Kong	3	Accounts receivable	18,558	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	0.59%
2	Kunshan Yi Guan	The Company	3	Sales revenue	5,551	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	0.79%
2	Kunshan Yi Guan	The Company	3	Accounts receivable	6,110	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	0.19%
2	Kunshan Yi Guan	THAILAND	3	Other receivables (Note 3)	10,328	Interest rate 0%	0.33%
3	Huizhou Zhan Mao	Celeraise Hong Kong	3	Sales revenue	122,163	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	17.36%
3	Huizhou Zhan Mao	Celeraise Hong Kong	3	Accounts receivable	172,338	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	5.47%
3	Huizhou Zhan Mao	CELERAIS	3	Sales revenue	3,336	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	0.47%
3	Huizhou Zhan Mao	CELERAIS	3	Accounts receivable	4,335	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	0.14%
3	Huizhou Zhan Mao	CELERAIS	3	Other receivables (Note 3)	67,853	Interest rate 0%	2.15%
3	Huizhou Zhan Mao	THAILAND	3	Sales revenue	10,912	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	1.55%
3	Huizhou Zhan Mao	THAILAND	3	Accounts receivable	25,794	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	0.82%
3	Huizhou Zhan Mao	THAILAND	3	Other receivables (Note 3)	88,152	Interest rate 0%	2.80%

Notes to the Consolidated Financial Statements of Wellpend 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
4	Leadpak Industrial	CELERAIS	3	Sales revenue	34,683	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	4.93%
4	Leadpak Industrial	CELERAIS	3	Accounts receivable	13,052	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	0.41%
6	Jian Tai	THAILAND	3	Other receivables (Note 3)	23,167	Interest rate 4.0%	0.73%
7	Shenzhen Zhan Sheng	Huizhou Zhan Mao	3	Other receivables (Note 3)	32,515	Interest rate 1.5%	1.03%
7	Shanghai Zhan Sheng	Kunshan Yi Guan	3	Other receivables (Note 3)	37,226	Interest rate 2.0%	1.18%

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).

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

(2) 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%	1,023	-	-	Subsidiary
The Company	Jun Tai	Hong Kong	Holding company	267,499	267,499	66,160	100%	290,602	(391)	(391)	×
The Company	Celeraise Technology	Taiwan	Information service industry	30,000	30,000	3,000	100%	71,169	2,230	2,238	×
The Company	Leadpak Industrial	Taiwan	International trade and other wholesale and retail trade	30,000	30,000	3,000	100%	37,260	3,702	4,199	×
The Company	KING HONG	Taiwan	International trade and other wholesale and retail trade	5,100	5,100	510	51%	5,117	17	8	×
The Company	HONG YI	Taiwan	International trade and other wholesale and retail trade	32,400	15,600	3,240	54%	26,651	(2,156)	(1,120)	×
The Company	Celeraise Hong Kong	Hong Kong	Manufacture and sale of wire and cable connectors and connectors	191,996	191,996	50,300	99.99%	1,115,568	9,417	9,417	×
The Company	CELERAISE ELECTRONIC CORPORATION	Philippines	Manufacture and sale of wire and cable connectors and connectors	25,532	25,532	400	100%	244,156	8,442	8,442	×
The Company	THAILAND	Thailand	Manufacture and sale of wire and cable connectors and connectors	182,136	182,136	18,275	100%	176,780	3,247	3,247	×
Jun Tai	Celeraise Hong Kong	Hong Kong	Manufacture and sale of wire and cable connectors and connectors	1 (HKD0.16)	1 (HK D0.16)	-	0.01%	1 (HKD 0.16)	-	Recognized by Jian Tai	×
Jun Tai	Welltrend	Thailand	Manufacture and sale of wire and cable connectors and connectors	125,768 (HKD 30,818)	125,768 (HKD 30,818)	1,440	80%	140,660 (HKD 34,467)	(745) (HKD (184))	Recognized by Jian Tai	Sub-subsidiary
Celeraise Hong Kong	Yield Profit International	Hong Kong	Investment, trading and holding company	89,374 (HKD 21,900)	63,664 (HKD 15,600)	21,900	100%	417,519 (HKD 102,308)	(1,645) (HKD (406))	Recognized by Celeraise Hong Kong	×
Celeraise Hong Kong	Jet Success	Hong Kong	Investment, trading and holding company	31,832 (HKD 7,800)	31,832 (HKD 7,800)	7,800	100%	184,412 (HKD 45,188)	(2,775) (HKD (685))	×	×
HONG YI	Celeraise India	India	Manufacturing and Sales of Wire and Cable Connectors and Terminals	26,345	26,345	6,755	70%	15,697	(3,080)	Recognized by HONG YI	×

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.

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

(3) 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 2)	Investment in 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		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 income repatriated up to the current period
					Outflow	Inflow
Shanghai Minshi	R&D and production of industrial automation control, product quality control, communication, and electronic network computing software	15,998 (USD 500)	Note 1	15,998 (USD 500)	-	-	23,998 (USD 500)	-	100%	-	-	-
Shanghai Zhansheng	Production of electronics, cable connectors, telephone spare parts and small household appliances; sales of the company's own products	53,592 (USD 1,075)	Note 2	233,564 (USD 7,300)	-	-	233,564 (USD 7,300)	-	100%	(122) (RMB (50))	109,395 (HKD 26,808)	40,461 (RMB 9,172)
Shenzhen Zhansheng	Manufacture and sale of wire and cable connectors and connectors	48,556 (USD 515 RMB 0,930) (Note 6)	Note 2	-	-	-	-	(172) (RMB (38))	100%	(172) (HKD (42))	35,199 (HKD 8,625)	-
Celerasia Chenzhou	Production and sale of wire connectors, electronic wire products, etc.	-	Note 2	31,995 (USD 1,000)	-	-	31,995 (USD 1,000)	(Note 8)	-	-	(Note 8)	-
Kunshan Yiguan	Manufacture and sale of wire and cable connectors and connectors, etc.	31,995 (USD 1,000)	Note 2	31,995 (USD 1,000)	-	-	31,995 (USD 1,000)	(2,863) (RMB (626))	100%	(2,863) (HKD (707))	177,284 (HKD 43,441)	205,262 (RMB 47,071)
Huizhou Zhanmao	Production and sale of wire connectors, electronic wire products and packaging materials, etc.	53,752 (USD 1,680) (Note 7)	Note 2	-	-	-	-	(1,463) (RMB (320))	100%	(1,463) (HKD (361))	416,786 (HKD 102,128)	115,731 (RMB 26,630)

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	313,551 (USD 9,800)	386,820 (USD 12,090)	942,620

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 investee's unaudited 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: Celerasia Hong Kong made a reinvestment of US$515 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 Celerasia Hong Kong, Yield Profit International, and Jet Success making reinvestments using their own funds totaling US$1,680 thousand.
Note8: Celerasia 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.

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

Material transactions with mainland China investee companies:

For direct or indirect material transactions between the Group and mainland China investee companies as for the three-month periods ended 31 March 2026 (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".

14. Segment information

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

	For the three-months ended 31 March, 2026
	Informatio n services	Wire and connectors	Other segments	Adjustments and eliminations	Total
Revenue:
Revenue from external customers	$ 197,320	506,540	-	-	703,860
Interdepartmental revenue	915	239,241	-	(240,156)	-
Total revenue	$ 198,235	745,781	-	(240,156)	703,860
Segment (loss) profit	$ 8,649	26,755	-	(3,072)	32,332
Segment total assets					$ 3,153,257
	For the three-months ended 31 March, 2025
	Informatio n services	Wire and connectors	Other segments	Adjustments and eliminations	Total
Revenue:
Revenue from external customers	$ 261,005	446,314	-	-	707,319
Interdepartmental revenue	1,240	242,627	-	(243,867)	-
Total revenue	$ 262,245	688,941	-	(243,867)	707,319
Segment (loss) profit	$ 19,435	(10,610)	-	(4,128)	4,697
Segment total assets					$ 3,291,844

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WELLTEND — Interim / Quarterly Report 2026

52254_rns_2026-05-21_f48dc3b9-4898-492b-a68d-3cc7c3112eb6.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

Weltend Technology Corporation and Subsidiaries

Consolidated Balance Sheet

Welltend Technology Corporation and Subsidiaries

Consolidated Statement of Comprehensive Income

For the three-month periods ended 31 March, 2026 and 2025

Welltend Technology Corporation and Subsidiaries

Consolidated Statement of Changes in Equity

Welltend Technology Corporation and Subsidiaries

Consolidated Statement of Cash Flows

Welltend Technology Corporation and Subsidiaries

Notes to the Consolidated Financial Statements

For the three-month periods ended 31 March, 2026 and 2025

1. Company history

2. Approval date and procedures of the consolidated financial statements

3. New standards, amendments and interpretations adopted

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

4. Summary of significant accounting policies

(1) Statement of compliance

(2) Basis of consolidation

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

6. Explanation of significant accounts

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

(2) Notes and accounts receivable

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

(3) Inventories

(4) Other Current and Non-current Assets

1. Other current assets

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)

(12) Income taxes

(13) Capital and other equity

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

(14) Earnings per share

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

2. Contract balances

(16) Remuneration of employees and of directors

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

(17) Financial instruments

1. Credit risk

(1) Amount of maximum credit risk exposure

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) Sensitivity analysis

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

5. Fair value information

(1) Type and fair value of financial instruments

7. Related party transactions

2. Leases

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

(3) Key management personnel transactions

8. Pledged assets

9. Significant commitments and contingencies:

(I) Significant commitments

10. Losses due to major disasters: None.

11. Significant subsequent events: None.

12. Other

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)

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

(2) Information on investees

14. Segment information

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WELLTEND Interim / Quarterly Report 2026