XAVi — Audit Report / Information 2026

Apr 29, 2026

XAVI TECHNOLOGIES CORPORATION

PARENT COMPANY ONLY FINANCIAL

STATEMENTS AND INDEPENDENT AUDITORS’

REPORT DECEMBER 31, 2025 AND 2024

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For the convenience of readers and for information purpose only, the auditors’ report and the accompanying financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. In the event of any discrepancy between the English version and the original Chinese version or any differences in the interpretation of the two versions, the Chinese-language auditors’ report and financial statements shall prevail.

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INDEPENDENT AUDITORS’ REPORT TRANSLATED FROM CHINESE

To the Board of Directors and Shareholders of XAVi Technologies Corporation

Opinion

We have audited the accompanying parent company only balance sheets of XAVi Technologies Corporation (the “Company”) as at December 31, 2025 and 2024, and the related parent company only statements of comprehensive income, of changes in equity and of cash flows for the years then ended, and notes to the parent company only financial statements, including a summary of material accounting policies.

In our opinion, the accompanying parent company only financial statements present fairly, in all material respects, the financial position of the Company as at December 31, 2025 and 2024, and its financial performance and its cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers.

Basis for opinion

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

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Key audit matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Company’s 2025 parent company only financial statements. These matters were addressed in the context of our audit of the parent company only financial statements as a whole and, in forming our opinion thereon, we do not provide a separate opinion on these matters.

Key audit matter for the Company’s 2025 parent company only financial statements is stated as follows:

Recognition of sales revenue

Description

Refer to Notes 4(26) and 6(15) of the parent company only financial statements for the accounting policy and disclosures in relation to revenue recognition.

The Company is primarily engaged in the sales of network communication products. Given that the sales revenue recognition of major customers could have a significant impact on the financial statements, and sales revenue from the top ten customers accounts for over 99% of total sales revenue, the recognition of sales revenue transactions from top ten customers has been identified as a key audit matter.

How our audit addressed the matter

We performed the following audit procedures in respect of the above key audit matter:

1. Obtained an understanding and assessed the internal control procedures for the customers and selected samples to verify the effectiveness of internal controls over sales revenue recognition.

2. Performed substantive tests by selecting samples of sales revenue transactions from the top ten customers to ascertain the appropriateness of sales revenue.

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1. Performed confirmation procedures on significant year-end accounts receivable balances.

2. Checked and assessed whether there were any unusual significant sales returns and discounts after the balance sheet date.

Responsibilities of management and those charged with governance for the parent company only financial statements

Management is responsible for the preparation and fair presentation of the parent company only financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, and for such internal control as management determines is necessary to enable the preparation of parent company only financial statements that are free from material misstatement, whether due to fraud or error.

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

Those charged with governance, including the audit committee, are responsible for overseeing the Company’s financial reporting process.

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Auditors’ responsibilities for the audit of the parent company only financial

statements

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

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

1. Identify and assess the risks of material misstatement of the parent company only financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

2. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.

3. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

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1. Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the parent company only financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Company to cease to continue as a going concern.

2. Evaluate the overall presentation, structure and content of the parent company only financial statements, including the disclosures, and whether the parent company only financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

3. Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Company to express an opinion on the parent company only financial statements. We are responsible for the direction, supervision and performance of the audit. We remain solely responsible for our audit opinion.

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

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

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

Liang, Hua-Ling Liao, Fu-Ming For and on Behalf of PricewaterhouseCoopers, Taiwan March 3, 2026

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The accompanying parent company only financial statements are not intended to present the financial position and results of operations and cash flows in accordance with accounting principles generally accepted in countries and jurisdictions other than the Republic of China. The standards, procedures and practices in the Republic of China governing the audit of such financial statements may differ from those generally accepted in countries and jurisdictions other than the Republic of China. Accordingly, the accompanying parent company only financial statements and independent auditors’ report are not intended for use by those who are not informed about the accounting principles or auditing standards generally accepted in the Republic of China, and their applications in practice.

As the financial statements are the responsibility of the management, PricewaterhouseCoopers cannot accept any liability for the use of, or reliance on, the English translation or for any errors or misunderstandings that may derive from the translation.

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XAVI TECHNOLOGIES CORPORATION PARENT COMPANY ONLY BALANCE SHEETS DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

Assets	Notes 6(1) 6(2) 6(3) 7 7 6(4) 6(2) 6(5) 6(6) 6(7) 6(21) 6(10) and 8	December 31, 2025 AMOUNT % $ 554,049 20 17,062 1 944,624 35 381 - 19,317 1 237,749 9 92,488 3 52,962 2 1,918,632 71 5,970 - 726,587 27 7,543 1 6,218 - 1,521 - 3,132 - 14,952 1 765,923 29 $ 2,684,555 100	December 31, 2024	December 31, 2024
		AMOUNT $ 554,049 17,062 944,624 381 19,317 237,749 92,488 52,962 1,918,632 5,970 726,587 7,543 6,218 1,521 3,132 14,952 765,923 $ 2,684,555	AMOUNT $ 774,021 31,193 708,633 - 7,790 380,311 49,134 46,859 1,997,941 4,590 721,755 5,444 14,986 1,339 909 12,243 761,266 $ 2,759,207	%
Current assets 1100 Cash and cash equivalents 1110 Financial assets at fair value through profit or loss - current 1170 Accounts receivable, net 1180 Accounts receivable - related parties 1200 Other receivables 1210 Other receivables - related parties 130X Inventories 1410 Prepayments 11XX Total current assets Non-current assets 1510 Financial assets at fair value through profit or loss - non-current 1550 Investments accounted for under equity method 1600 Property, plant and equipment, net 1755 Right-of-use assets 1780 Intangible assets 1840 Deferred income tax assets 1900 Other non-current assets 15XX Total non-current assets 1XXX Total assets				28 1 25 - - 14 2 2
				72
				- 26 - 1 - - 1
				28
				100

(Continued)

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XAVI TECHNOLOGIES CORPORATION PARENT COMPANY ONLY BALANCE SHEETS DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

Liabilities and Equity	December 31, 2025 Notes AMOUNT % 6(8) $ 148,000 6 6(2) 8,084 - 6(15) 295,635 11 7 110,810 4 6(9) 474,179 18 7 310,476 12 33,392 1 7 6,338 - 1,509 - 1,388,423 52 6(21) 5,069 - 7 - - 5,069 - 1,393,492 52 6(12) 774,491 29 - - 6(13) 186,771 7 6(14) 68,214 2 5,672 - 256,007 10 ( 92) - 1,291,063 48 9 11 $ 2,684,555 100	December 31, 2024	December 31, 2024
		AMOUNT $ 150,000 865 390,320 127,593 489,505 345,068 3,331 8,861 3,847 1,519,390 4,126 6,288 10,414 1,529,804 773,101 282 186,322 58,298 32,872 174,756 3,772 1,229,403 $ 2,759,207	%
Current liabilities 2100 Short-term borrowings 2120 Financial liabilities at fair value through profit or loss - current 2130 Contract liabilities - current 2180 Accounts payable - related parties 2200 Other payables 2220 Other payables - related parties 2230 Income tax liabilities 2280 Lease liabilities - current 2300 Other current liabilities 21XX Total current liabilities Non-current liabilities 2570 Deferred tax liabilities 2580 Lease liabilities - non-current 25XX Total non-current liabilities 2XXX Total liabilities Equity Share capital 3110 Common stock 3140 Advance receipts for share capital Capital surplus 3200 Capital surplus Retained earnings 3310 Legal reserve 3320 Special reserve 3350 Unappropriated retained earnings 3400 Other equity interest 3XXX Total equity Significant contingent liabilities and unrecognised contract commitments Significant events after the balance sheet date 3X2X Total liabilities and equity			5 - 14 5 18 13 - - -
			55
			- -
			-
			55
			28 - 7 2 1 7 -
			45
			100

The accompanying notes are an integral part of these parent company only financial statements.

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XAVI TECHNOLOGIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars, except for earnings per share amounts)

Items

Year ended December 31 2025 2024 Notes AMOUNT % AMOUNT % 6(15) and 7 $ 3,618,851 100 $ 2,454,937 100 6(4) and 7 ( 3,264,874) ( 90) ( 2,248,620) ( 92) 353,977 10 206,317 8 6(19)(20) and 7 ( 54,468) ( 1) ( 50,185) ( 2) ( 73,777) ( 2) ( 69,253) ( 3) ( 129,270) ( 4) ( 140,273) ( 6) 12(2) ( 2,663) - 9,013 1 ( 260,178) ( 7) ( 250,698) ( 10) 93,799 3 ( 44,381) ( 2) 6(16) 30,382 1 34,925 2 6(17) and 7 43,594 1 1,772 - 6(18) ( 56,685) ( 2) 47,540 2 ( 3,911) - ( 6,069) - 6(5) 38,126 1 74,612 3 51,506 1 152,780 7 145,305 4 108,399 5 6(21) ( 21,807) ( 1) ( 15,620) ( 1) $ 123,498 3 $ 92,779 4 6(10) $ 2,334 - $ 6,382 - ( 3,864) - 36,644 2 ($ 1,530) - $ 43,026 2 $ 121,968 3 $ 135,805 6 6(22) $ 1.60 $ 1.20 6(22) $ 1.59 $ 1.20

4000 Sales revenue 5000 Operating costs 5900 Net operating margin Operating expenses 6100 Selling expenses 6200 General and administrative expenses 6300 Research and development expenses 6450 Expected credit (loss) gain 6000 Total operating expenses 6900 Operating income (loss) Non-operating income and expenses 7100 Interest income 7010 Other income 7020 Other gains and losses 7050 Finance costs 7070 Share of profit of subsidiaries, associates and joint ventures accounted for using equity method, net 7000 Total non-operating income and expenses 7900 Profit before income tax 7950 Income tax expense 8200 Profit for the year Other comprehensive income Components of other comprehensive income that will not be reclassified to profit or loss 8311 Remeasurements of defined benefit plan Components of other comprehensive income that will be reclassified to profit or loss 8361 Financial statements translation differences of foreign operations 8300 Other comprehensive (loss) income for the year 8500 Total comprehensive income for the year Earnings per share (in NT dollars) 9750 Basic earnings per share 9850 Diluted earnings per share

The accompanying notes are an integral part of these parent company only financial statements.

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XAVI TECHNOLOGIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

2024 Balance at January 1, 2024 Profit for the year Other comprehensive income for the year Total comprehensive income Appropriation of 2023 earnings Special reserve Share-based payments Exercise of employee share options Balance at December 31, 2024 2025 Balance at January 1, 2025 Profit for the year Other comprehensive income (loss) for the year Total comprehensive income (loss) Appropriations of 2024 earnings Legal reserve Reversal of special reserve Cash dividends Exercise of employee share options Balance at December 31, 2025	Notes	Share Capital	Share Capital	Share Capital	Capital surplus	Capital surplus		Retained Earnings	Retained Earnings	Retained Earnings	Retained Earnings	Financial statements translation differences of foreign operations		Total equity
		Common stock		Advance receipts for share capital				Legal reserve		Special reserve	Unappropriated retained earnings
	6(10) 6(14) 6(11) 6(12) 6(10) 6(14) 6(12)		$ 769,956 - - - - - 3,145 $ 773,101 $ 773,101 - - - - - - 1,390 $ 774,491	$ 778 - - - - - ( 496 ) $ 282 $ 282 - - - - - - ( 282 ) $ -		$ 184,807 - - - - 446 1,069 $ 186,322 $ 186,322 - - - - - - 449 $ 186,771		$ 58,298 - - - - - - $ 58,298 $ 58,298 - - - 9,916 - - - $ 68,214	$ 32,474 - - - 398 - - $ 32,872 $ 32,872 - - - - ( 27,200) - - $ 5,672		$ 75,993 92,779 6,382 99,161 ( 398 ) - - $ 174,756 $ 174,756 123,498 2,334 125,832 ( 9,916 ) 27,200 ( 61,865 ) - $ 256,007	($ 32,872) - 36,644 36,644 - - - $ 3,772 $ 3,772 - ( 3,864) ( 3,864) - - - - ($ 92)	$ 1,089,434 92,779 43,026 135,805 - 446 3,718 $ 1,229,403 $ 1,229,403 123,498 ( 1,530 ) 121,968 - - ( 61,865 ) 1,557 $ 1,291,063

The accompanying notes are an integral part of these parent company only financial statements.

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XAVI TECHNOLOGIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax Adjustments Adjustments to reconcile profit (loss) Depreciation Amortization Expected credit loss (gain) Net loss on financial assets and liabilities at fair value through profit or loss - others Net loss (gain) on financial assets at fair value through profit or loss - derivative instruments Interest expense Interest income Dividend income Share-based payments Share of profit or loss of subsidiaries, associates and joint ventures accounted for using equity method Loss (gain) on lease modification Advance receipts and payables overdue by more than two years reclassified as other income Changes in operating assets and liabilities Changes in operating assets Financial assets and liabilities at fair value through profit or loss - derivative instruments Accounts receivable Accounts receivable - related parties Other receivables Other receivables - related parties Inventories Prepayments Changes in operating liabilities Contract liabilities - current Accounts payable - related parties Other payables Other payables - related parties Other current liabilities Net defined benefit asset Cash (outflow) inflow generated from operations Interest received Dividends received Interest paid Income tax paid Net cash flows (used in) from operating activities

YearendedDecember 31 Notes 2025 2024 $ 145,305 $ 108,399 6(6)(7)(19) 11,954 12,850 6(19) 1,535 1,616 12(2) 2,663 ( 9,013 ) 6(2)(18) 11,835 15,660 6(2)(18) 27,430 ( 9,853 ) 3,911 6,069 6(16) ( 30,382 ) ( 34,925 ) 6(17) ( 1,033 ) ( 1,231 ) 6(11) - 446 6(5) ( 38,126 ) ( 74,612 ) 6(7) 1 ( 1 ) 6(17) ( 34,193 ) - ( 18,104 ) ( 2,393 ) ( 238,654 ) ( 388,187 ) ( 381 ) 129 ( 1,501 ) 1,383 68,762 ( 115,739 ) ( 43,354 ) 14,743 ( 6,103 ) 502,737 ( 64,295 ) 257,011 ( 16,783 ) 127,593 ( 11,465 ) 76,533 4,244 ( 591 ) ( 2,338 ) ( 222 ) ( 375 ) ( 61 ) ( 229,447 ) 488,341 30,382 34,925 1,033 1,231 ( 3,969 ) ( 6,260 ) ( 3,052 ) ( 14,478 ) ( 205,053 ) 503,759

(Continued)

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XAVI TECHNOLOGIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

CASH FLOWS FROM INVESTING ACTIVITIES Acquisition of financial assets at fair value through profit or loss - others Proceeds from capital reduction of investments accounted for using the equity method Decrease (increase) in other receivables due from related parties Acquisition of property, plant and equipment Acquisition of intangible assets Net cash flows from (used in) investing activities CASH FLOWS FROM FINANCING ACTIVITIES Decrease in short-term borrowings (Decrease) increase in other payables to related parties Payments of lease liabilities Cash dividends paid Exercise of employee share options Net cash flows used in financing activities Net (decrease) increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year

YearendedDecember 31 Notes 2025 2024 ($ 1,191 ) $ - 29,430 - 73,800 ( 78,090 ) 6(6) ( 5,224 ) ( 2,184 ) ( 1,717 ) ( 1,647 ) 95,098 ( 81,921 ) 6(23) ( 2,000 ) ( 282,000 ) 6(23) ( 38,836 ) 20,850 6(23) ( 8,873 ) ( 8,748 ) 6(14) ( 61,865 ) - 1,557 3,718 ( 110,017 ) ( 266,180 ) ( 219,972 ) 155,658 6(1) 774,021 618,363 6(1) $ 554,049 $ 774,021

The accompanying notes are an integral part of these parent company only financial statements.

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XAVI TECHNOLOGIES CORPORATION

NOTES TO THE PARENT COMPANY ONLY FINANCIAL STATEMENTS

YEARS ENDED DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

1. HISTORY AND ORGANIZATION

XAVi Technologies Corporation (the “Company”) was incorporated as a company limited by shares under the provisions of the Company Act of the Republic of China (R.O.C.) in June 1997 and commenced its operations in October 1997. The Company became listed on the Taiwan Stock Exchange (TWSE) in December, 2022. The Company is primarily engaged in the research and development, manufacture and sales of network communication products. As of December 31, 2025, Chicony Electronics Co., Ltd. holds a 40.23% equity interest in the Company and is the Company’s ultimate parent company.

2. THE DATE OF AUTHORIZATION FOR ISSUANCE OF THE FINANCIAL STATEMENTS AND

PROCEDURES FOR AUTHORIZATION

These parent company only financial statements were authorized for issuance by the Board of Directors on March 3, 2026.

3. APPLICATION OF NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS

(1) Effect of the adoption of new issuances of or amendments to International Financial Reporting Standards (“IFRS[®] ”) Accounting Standards that came into effect as endorsed by the Financial Supervisory Commission (“FSC”)

New standards, interpretations and amendments endorsed by the FSC and became effective from 2025 are as follows:

2025 are as follows:
New Standards, Interpretations and Amendments	Effective date by International Accounting StandardsBoard
Amendments to IAS 21, ‘Lack of exchangeability’	January 1, 2025

The above standards and interpretations have no significant impact to the Company’s financial condition and financial performance based on the Company’s assessment.

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(2) Effect of new issuances of or amendments to IFRS Accounting Standards as endorsed by the FSC

but not yet adopted by the Company

New standards, interpretations and amendments endorsed by the FSC effective from 2026 are as follows:

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Effective date by
International Accounting
New Standards, Interpretations and Amendments Standards Board
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New Standards,InterpretationsandAmendments	StandardsBoard
Specific provisions of Amendments to IFRS 9 and IFRS 7, ‘Amendments	January 1, 2026
to the classification and measurement of financial instruments’
Amendments to IFRS 9 and IFRS 7, ‘Contracts referencing	January 1, 2026
nature-dependent electricity’
IFRS 17, ‘Insurance contracts’	January 1, 2023
Amendments to IFRS 17, ‘Insurance contracts’	January 1, 2023
Amendment to IFRS 17, ‘Initial application of IFRS 17 and IFRS 9 –	January 1, 2023
comparative information’
Annual Improvements to IFRS Accounting Standards—Volume 11	January 1, 2026

The above standards and interpretations have no significant impact to the Company’s financial condition and financial performance based on the Company’s assessment.

(3) IFRS Accounting Standards issued by IASB but not yet endorsed by the FSC

New standards, interpretations and amendments issued by IASB but not yet included in the IFRS Accounting Standards as endorsed by the FSC are as follows:

New standards, interpretations and amendments issued by IASB but not Accounting Standards as endorsed by the FSC are as follows:	yet included in the IFRS
New Standards, Interpretations and Amendments	Effective date by International Accounting StandardsBoard
Amendments to IFRS 10 and IAS 28, ‘Sale or contribution of assets between an investor and its associate or joint venture’ IFRS 18, ‘Presentation and disclosure in financial statements’ IFRS 19, ‘Subsidiaries without public accountability: disclosures’ Amendments to IAS 21, ‘Translation to a Hyperinflationary Presentation Currency’	To be determined by International Accounting Standards Board January 1, 2027 (Note) January 1, 2027 January 1, 2027

Note ： The FSC has announced that public companies will apply IFRS 18 starting from the fiscal year 2028. Additionally, entities can choose to adopt IFRS 18 earlier based on their requirements after the FSC endorses IFRS 18.

Except for the following, the above standards and interpretations have no significant impact to the

Company’s financial condition and financial performance based on the Company’s assessment. IFRS 18, ‘Presentation and disclosure in financial statements’

IFRS 18, ‘Presentation and disclosure in financial statements’ replaces IAS 1. The standard introduces a defined structure of the statement of profit or loss, disclosure requirements related to managementdefined performance measures, and enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes.

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4. SUMMARY OF MATERIAL ACCOUNTING POLICIES

The principal accounting policies applied in the preparation of these parent company only financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

(1) Compliance statement

The parent company only financial statements of the Company have been prepared in accordance with the “Regulations Governing the Preparation of Financial Reports by Securities Issuers”.

• (2) Basis of preparation

• A. Except for the following items, the Company’s financial statements have been prepared under the historical cost convention:

  • (a) Financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss.

  • (b) Defined benefit assets/liabilities recognised based on the net amount of pension fund assets less present value of defined benefit obligation.

• B. The preparation of financial statements in conformity with International Financial Reporting Standards, International Accounting Standards, IFRIC[®] Interpretations, and SIC[®] Interpretations as endorsed by the FSC (collectively referred herein as the “IFRSs”) requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the parent company only financial statements are disclosed in Note 5.

(3) Foreign currency translation

The parent company only financial statements are presented in New Taiwan dollars, which is the Company’s functional and presentation currency.

• A. Foreign currency transactions and balances

• (a) Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are remeasured. Foreign exchange gains and losses resulting from the settlement of such transactions are recognised in profit or loss in the period in which they arise.

• (b) Monetary assets and liabilities denominated in foreign currencies at the period end are retranslated at the exchange rates prevailing at the balance sheet date. Exchange differences arising upon re-translation at the balance sheet date are recognised in profit or loss.

• (c) Non-monetary assets and liabilities denominated in foreign currencies held at fair value through profit or loss are re-translated at the exchange rates prevailing at the balance sheet date; their translation differences are recognised in profit or loss. Non-monetary assets and liabilities denominated in foreign currencies held at fair value through other comprehensive income are re-translated at the exchange rates prevailing at the balance sheet date; their translation differences are recognised in other comprehensive income. However, nonmonetary assets and liabilities denominated in foreign currencies that are not measured at fair value are translated using the historical exchange rates at the dates of the initial transactions.

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  - (d) All foreign exchange gains and losses are presented in the statement of comprehensive income within ‘other gains and losses’.

• B. Translation of foreign operations

  • The operating results and financial position of all the company entities that have a functional currency different from the presentation currency are translated into the presentation currency as follows:

  • (a) Assets and liabilities for each balance sheet presented are translated at the closing exchange rate at the date of that balance sheet;

  • (b) Income and expenses for each statement of comprehensive income are translated at average exchange rates of that period; and

  • (c) All resulting exchange differences are recognised in other comprehensive income.

• (4) Classification of current and non-current items

• A. Assets that meet one of the following criteria are classified as current assets; otherwise they are classified as non-current assets:

  • (a) Assets that are expected to be realised, or are intended to be sold or consumed in the normal operating cycle;

  • (b) Assets held primainly for the purpose of trading;

  • (c) Assets that are expected to be realised within twelve months after the reporting period;

  • (d) Cash and cash equivalents, excluding restricted cash and cash equivalents and those that are to be exchanged or used to settle liabilities for at least twelve months after the reporting period.

• B. Liabilities that meet one of the following criteria are classified as current liabilities; otherwise they are classified as non-current liabilities:

  • (a) Liabilities that are expected to be settled in the normal operating cycle;

  • (b) Liabilities arising primarily from trading activities;

  • (c) Liabilities that are due to be settled within twelve months after the reporting period;

  • (d) It does not have the right at the end of the reporting period to defer settlement of the liability at least twelve months after the reporting period.

• (5) Cash equivalents

• Cash equivalents refer to short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Time deposits that meet the definition above and are held for the purpose of meeting short-term cash commitments in operations are classified as cash equivalents.

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

• A. Financial assets at fair value through profit or loss are financial assets that are not measured at amortised cost or fair value through other comprehensive income.

• B. On a regular way purchase or sale basis, financial assets at fair value through profit or loss are recognised and derecognised using trade date accounting.

• C. At initial recognition, the Company measures the financial assets at fair value and recognises the transaction costs in profit or loss. The Company subsequently measures the financial assets at fair value, and recognises the gain or loss in profit or loss.

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• D. The Company recognises the dividend income when the right to receive payment is established, future economic benefits associated with the dividend will flow to the Company and the amount of the dividend can be measured reliably.

(7) Accounts and notes receivable

• A. Accounts and notes receivable entitle the Company a legal right to receive consideration in exchange for transferred goods or rendered services.

• B. The short-term accounts and notes receivable without bearing interest are subsequently measured at initial invoice amount as the effect of discounting is immaterial.

(8) Impairment of financial assets

For debt instruments measured at fair value through other comprehensive income including accounts receivable that have a significant financing component, at each reporting date, the Company recognises the impairment provision for 12 months expected credit losses if there has not been a significant increase in credit risk since initial recognition or recognises the impairment provision for the lifetime expected credit losses (ECLs) if such credit risk has increased since initial recognition after taking into consideration all reasonable and verifiable information that includes forecasts. On the other hand, for accounts receivable that do not contain a significant financing component, the Company recognises the impairment provision for lifetime ECLs.

(9) Derecognition of financial assets

The Company derecognises a financial asset when the contractual rights to receive the cash flows from the financial asset expire.

(10) Inventories

Inventories are stated at the lower of cost and net realizable value. Cost is determined using the weighted-average method. The cost of finished goods and work in progress comprises raw materials, direct labor, other direct costs and related production overheads. It excludes borrowing costs. The item by item approach is used in applying the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and applicable variable selling expenses.

(11) Investments accounted for using the equity method / subsidiaries

• A. Subsidiaries are all entities (including structured entities) controlled by the Company. The Company controls an entity when the Company is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity.

• B. Inter-company transactions, balances and unrealized gains or losses on transactions between companies within the Company are eliminated. Accounting policies of subsidiaries have been adjusted where necessary to ensure consistency with the policies adopted by the Company.

• C. The Company’s share of its subsidiaries’ post-acquisition profits or losses is recognised in profit or loss, and its share of post-acquisition movements in other comprehensive income is recognised in other comprehensive income. When the Company’s share of losses in a subsidiary equals or exceeds its interest in the subsidiary, the Company continues to recognise the losses in proportion to the ownership.

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• D. Pursuant to the Rules Governing the Preparation of Financial Statements by Securities Issuers, profit (loss) and other comprehensive income of the current period in the parent company only financial statements shall equal to the amount attributable to owners of the parent in the consolidated financial statements. Owners’ equity in the parent company only financial statements shall equal to equity attributable to owners of the parent in the consolidated financial statements.

(12) Property, plant and equipment

• A. Property, plant and equipment are initially recorded at cost. Borrowing costs incurred during the construction period are capitalized.

• B. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to profit or loss during the financial period in which they are incurred.

• C. Land is not depreciated. Other property, plant and equipment apply cost model and are depreciated using the straight-line method to allocate their cost over their estimated useful lives. Each part of an item of property, plant, and equipment with a cost that is significant in relation to the total cost of the item must be depreciated separately.

• D. The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each financial year-end. If expectations for the assets’ residual values and useful lives differ from previous estimates or the patterns of consumption of the assets’ future economic benefits embodied in the assets have changed significantly, any change is accounted for as a change in estimate under IAS 8, ‘Accounting Policies, Changes in Accounting Estimates and Errors’, from the date of the change. The estimated useful lives of property, plant and equipment are as follows:

Machinery equipment Office equipment Other equipment

1~5 years 1~5 years 1~5 years

(13) Leasing arrangements (lessee) － right-of-use assets / lease liabilities

• A. Leases are recognised as a right-of-use asset and a corresponding lease liability at the date at which the leased asset is available for use by the Company. For short-term leases or leases of low-value assets, lease payments are recognised as an expense on a straight-line basis over the lease term.

• B. Lease liabilities include the net present value of the remaining lease payments at the commencement date, discounted using the incremental borrowing interest rate. Lease payments are comprised of fixed payments, less any lease incentives receivable. The Company subsequently measures the lease liability at amortized cost using the interest method and recognises interest expense over the lease term. The lease liability is remeasured and the amount of remeasurement is recognised as an adjustment to the right-of-use asset when there are changes in the lease term or lease payments and such changes do not arise from contract modifications.

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• C. At the commencement date, the right-of-use asset is stated at cost comprising the following:

• (a) The amount of the initial measurement of lease liability;

• (b) Any lease payments made at or before the commencement date;

  • The right-of-use asset is measured subsequently using the cost model and is depreciated from the commencement date to the earlier of the end of the asset’s useful life or the end of the lease term. When the lease liability is remeasured, the amount of remeasurement is recognised as an adjustment to the right-of-use asset.

(14) Intangible assets

Computer software is stated at cost and amortized on a straight-line basis over its estimated useful life of 1 to 5 years.

(15) Impairment of non-financial assets

The Company assesses at each balance sheet date the recoverable amounts of those assets where there is an indication that they are impaired. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell or value in use. When the circumstances or reasons for recognizing impairment loss for an asset in prior years no longer exist or diminish, the impairment loss is reversed. The increased carrying amount due to reversal should not be more than what the depreciated or amortized historical cost would have been if the impairment had not been recognised.

• (16) Borrowings

Borrowings comprise long-term and short-term bank borrowings. Borrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently stated at amortized cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognised in profit or loss over the period of the borrowings using the effective interest method.

• (17) Notes and accounts payable

Accounts and notes payable are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. They are initially recognised at fair value and subsequently measured at amortized cost using the effective interest method. However, short-term accounts payable without bearing interest are subsequently measured at initial invoice amount as the effect of discounting is immaterial.

(18) Financial liabilities at fair value through profit or loss

• A. Financial liabilities are initially recognised at fair value through profit or loss. Financial liabilities that meet one of the following criteria are designated as at fair value through profit or loss at initial recognition:

• (a) Hybrid (combined) contracts; or

• (b) They eliminate or significantly reduce a measurement or recognition inconsistency; or

• (c) They are managed and their performance is evaluated on a fair value basis, in accordance with a documented risk management policy.

~20~

• B. At initial recognition, the Company measures the financial liabilities at fair value. All related transaction costs are recognised in profit or loss. The Company subsequently measures these financial liabilities at fair value with any gain or loss recognised in profit or loss.

(19) Derecognition of financial liabilities

A financial liability is derecognised when the obligation specified in the contract is either discharged or cancelled or expires.

• (20) Non-hedging and embedded derivatives

Non-hedging derivatives are initially recognised at fair value on the date a derivative contract is entered into and recorded as financial assets or financial liabilities at fair value through profit or loss. They are subsequently remeasured at fair value and the gains or losses are recognised in profit or loss.

(21) Employee benefits

• A. Short-term employee benefits

Short-term employee benefits are measured at the undiscounted amount of the benefits expected to be paid in respect of service rendered by employees in a period and should be recognised as expense in that period when the employees render service.

• B. Pensions

• (a) Defined contribution plan

For defined contribution plan, the contributions are recognised as pension expense when they are due on an accrual basis. Prepaid contributions are recognised as an asset to the extent of a cash refund or a reduction in the future payments.

• (b) Defined benefit plan

  • i. Net obligation under a defined benefit plan is defined as the present value of an amount of pension benefits that employees will receive on retirement for their services with the Company in current period or prior periods. The liability recognised in the balance sheet in respect of defined benefit pension plan is the present value of the defined benefit obligation at the balance sheet date less the fair value of plan assets. The net defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The rate used to discount is determined by using interest rates of government bonds (at the balance sheet date) of a currency and term consistent with the currency and term of the employment benefit obligations.

  • ii. Remeasurements arising on defined benefit plan are recognised in other comprehensive income in the period in which they arise and are recorded as retained earnings.

  • iii. Past service costs are recognised immediately in profit or loss.

• C. Termination benefits

• Termination benefits are employee benefits provided in exchange for the termination of employment as a result from either the Company’s decision to terminate an employee’s employment before the normal retirement date, or an employee’s decision to accept an offer of redundancy benefits in exchange for the termination of employment. The Company recognises expense when it can no longer withdraw an offer of termination benefits or when it recognises related restructuring costs, whichever is earlier. Benefits that are expected to be due more than

~21~

  - 12 months after the balance sheet date shall be discounted to their present value.

• D. Employees’ compensation and directors’ remuneration

  • Employees’ compensation and directors’ remuneration are recognised as expense and liability, provided that such recognition is required under legal or constructive obligation and those amounts can be reliably estimated. Any difference between the resolved amounts and the subsequently actual distributed amounts is accounted for as changes in estimates. If employee compensation is distributed by shares, the Company calculates the number of shares based on the closing price at the previous day of the board meeting resolution.

• (22) Employee share based payment

• For the equity-settled share-based payment arrangements, the employee services received are measured at the fair value of the equity instruments granted at the grant date, and are recognised as compensation cost over the vesting period, with a corresponding adjustment to equity. The fair value of the equity instruments granted shall reflect the impact of market vesting conditions and nonvesting conditions. Compensation cost is subject to adjustment based on the service conditions that are expected to be satisfied and the estimates of the number of equity instruments that are expected to vest under the non-market vesting conditions at each balance sheet date. Ultimately, the amount of compensation cost recognised is based on the number of equity instruments that eventually vest.

• (23) Income tax

• A. The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or items recognised directly in equity, in which cases the tax is recognised in other comprehensive income or equity.

• B. The current income tax expense is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Company operates and generates taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in accordance with applicable tax regulations. It establishes provisions where appropriate based on the amounts expected to be paid to the tax authorities. An additional tax is levied on the unappropriated retained earnings and is recorded as income tax expense in the year the stockholders resolve to retain the earnings.

• C. Deferred tax is recognised, using the balance sheet liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the parent company only balance sheet. However, the deferred tax is not accounted for if it arises from initial recognition of goodwill or of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred tax is provided on temporary differences arising on investments in subsidiaries, except where the timing of the reversal of the temporary difference is controlled by the Company and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the balance sheet date and are expected to apply when the related deferred tax asset is realized or the deferred tax liability is settled.

~22~

• D. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized. At each balance sheet date, unrecognised and recognised deferred tax assets are reassessed.

• E. Current income tax assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. Deferred tax assets and liabilities are offset on the balance sheet when the entity has the legally enforceable right to offset current tax assets against current tax liabilities and they are levied by the same taxation authority on either the same entity or different entities that intend to settle on a net basis or realize the asset and settle the liability simultaneously.

• (24) Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction, net of tax, from the proceeds.

• (25) Dividends

Cash dividends are recorded in the Company’s financial statements in the period in which they are resolved by the Company’s shareholders or resolved by the more than half of the directors present at the meeting where more than two-thirds of the directors are present. Cash dividends are recorded as liabilities; stock dividends are recorded as stock dividends to be distributed and are reclassified to ordinary shares on the effective date of new shares issuance.

(26) Revenue recognition

• A. Sales of goods

• (a) The Company’s sales are recognised when control of the products has transferred, being when the products are delivered to the customer, the customer has full discretion over the products, and there is no unfulfilled obligation that could affect the customer’s acceptance of the products. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred to the customers, and either the customers has accepted the products in accordance with the sales contract, or the Company has objective evidence that all criteria for acceptance have been satisfied.

• (b) A receivable is recognised when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due.

• B. Service revenue

The Company provides OEM services for network communication products. Relevant revenue is recognised when the services are rendered.

• C. Incremental costs of obtaining a contract

Given that the contractual period lasts less than one year, the Company recognises the incremental costs of obtaining a contract as an expense when incurred although the Company expects to recover those costs.

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5. CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND KEY SOURCES OF

ASSUMPTION UNCERTAINTY

The preparation of these parent company only financial statements requires management to make critical judgements in applying the Company’s accounting policies and make critical assumptions and estimates concerning future events. Assumptions and estimates may differ from the actual results and are continually evaluated and adjusted based on historical experience and other factors. Such assumptions and estimates have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. There are no critical accounting judgements, estimates and assumption uncertainty.

6. DETAILS OF SIGNIFICANT ACCOUNTS

(1) Cash and cash equivalents

Cash on hand and revolving funds Checking accounts and demand deposits Time deposits	December 31, 2025 684 $ 458,476 94,889 554,049 $	December31,2024
	$	669 $ 576,612 196,740
	$	774,021 $

• A. The Company transacts with a variety of financial institutions all with high credit quality to disperse credit risk, so it expects that the probability of counterparty default is remote.

• B. The Company has no cash and cash equivalents pledged to others.

(2) Financial assets and liabilities at fair value through profit or loss

Items Current items: Financial assets mandatorily measured at fair value through profit or loss Listed stocks Convertible bond Non-hedging derivatives Forward foreign exchange contracts Foreign exchange swap contracts Valuation adjustment ( Financial liabilities mandatorily measured at fair value through profit or loss Non-hedging derivatives Forward foreign exchange contracts	December31,2025 73,717 $ 95 573 - 74,385 57,323) ( 17,062 $ 8,084 $	December31,2024
		72,621 $ - 2,432 248
		75,301 44,108)
		31,193 $
		865 $

~24~

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----- Start of picture text -----

Items December 31, 2025 December 31, 2024
Non-current items:
Financial assets mandatorily measured at fair
value through profit or loss
Beneficiary certificates $ 30,000 $ 30,000
Valuation adjustment ( 24,030) ( 25,410)
$ 5,970 $ 4,590
----- End of picture text -----

• A. Amounts recognised in profit or loss in relation to financial assets and liabilities at fair value through profit or loss are listed below:

		YearendedDecember31	YearendedDecember31	YearendedDecember31
		2025		2024
Equity instruments	($	13,218)	($	14,790)
Debt instruments		3		-
Beneficiary certificates		1,380	(	870)
Derivative instruments	(	27,430)		9,853
	($	39,265)	($	5,807)

• B. Details of the transactions and contract information related to derivative financial assets and liabilities which were not accounted for using hedge accounting are as follows:

==> picture [468 x 44] intentionally omitted <==

----- Start of picture text -----

December 31, 2025
Contract amount
Current items (Notional principal) Expiry date
----- End of picture text -----

Current items	Expiry date December 31,2025 (Notionalprincipal) Contract amount	Expiry date December 31,2025 (Notionalprincipal) Contract amount
Forward foreign exchange contracts - Buy USD sell THB Current items	USD 16,000 thousand 2026.1.7-2026.3.25 December 31,2024
	Contract amount (Notionalprincipal)	Expiry date
Forward foreign exchange contracts - Buy USD sell THB Foreign exchange swap contracts - Buy USD sell NTD	USD 14,000 thousand USD 2,000 thousand	2025.1.2-2025.3.3 2025.1.2

Forward foreign exchange contracts / Foreign exchange swap contracts

The Company entered into forward foreign exchange contracts and foreign exchange swap contracts to buy (sell) forward foreign exchange and foreign exchange swap to hedge exchange rate risk of import and export proceeds. However, these forward foreign exchange contracts and foreign exchange swap contracts are not accounted for under hedge accounting.

• C. The Company has no financial assets at fair value through profit or loss pledged to others as collateral.

• D. Information relating to credit risk of financial assets at fair value through profit or loss is provided in Note 12(2).

~25~

(3) Accounts receivable

		December	31,2025		December	31,2024
Accounts receivable		$	958,754		$	720,100
Less: Allowance for uncollectible accounts	(		14,130)	(		11,467)
		$	944,624		$	708,633

• A. The ageing analysis of accounts receivable that was past due but not impaired is as follows:

Not past due 1 - 30 days 31 - 60 days 61 - 90 days Over 90 days	December 31, 2025 December 31, 2024 Accounts Accounts receivable receivable 759,128 $ 504,884 $ 111,279 208,187 26,463 - 55,428 - 6,456 7,029 958,754 $ 720,100 $

The above ageing analysis was based on past due date.

• B. As of December 31, 2025 and 2024, accounts receivable were all from contracts with customers. As of January 1, 2024, the balance of receivables from contracts with customers amounted to $331,913.

• C. The Company has no accounts receivable pledged to others as collateral.

• D. As at December 31, 2025 and 2024, without taking into account any collateral held or other credit enhancements, the maximum exposure to credit risk in respect of the amount that best represents the Company’s accounts receivable was equal to the carrying amount.

• E. Information relating to credit risk of accounts receivable is provided in Note 12(2).

(4) Inventories

Raw materials Work in progress Finished goods Finished goods		December31,2025	December31,2025	December31,2025
		Cost Allowance for valuation loss 12,679 $ - $ 696 - 79,113 - 92,488 $ - $ December31,2024			Bookvalue 12,679 $ 696 79,113 92,488 $
		Cost 49,134 $		Allowance for valuation loss - $	Bookvalue 49,134 $

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The cost of inventories recognised as expense for the year:

		Yearended	December31	December31
		2025		2024
Cost of goods sold	$	3,264,874	$	2,248,620
Investments accounted for using the equity method
A. Details of investments accounted for using the equity		method are as follows:
	December31,2025		December31,2024
Directmax International Ltd.	$	469,848	$	493,525
XAVi Technologies (Thailand) Co., Ltd.		256,739		228,230
	$	726,587	$	721,755

(5) Investments accounted for using the equity method

• B. Share of profit (loss) of subsidiaries accounted for using the equity method are as follows:

Directmax International Ltd. XAVi Technologies (Thailand) Co., Ltd.	Year ended December 31	Year ended December 31
	2025 20,233 $ 17,893 ( 38,126 $	2024
		76,386 $ 1,774)
		74,612 $

• C. Information on the Company’s subsidiaries is provided in Note 4(3) of the 2025 consolidated financial statements.

(6) Property, plant and equipment

January 1, 2025 Cost Accumulated depreciation ( 2025 Opening net book amount Additions Depreciation ( Closing net book amount December 31, 2025 Cost Accumulated depreciation (	Machinery equipment Office equipment Otherequipment 40,833 $ 6,641 $ 2,391 $ 37,209) 5,011) ( 2,201) ( ( 3,624 $ 1,630 $ 190 $ 3,624 $ 1,630 $ 190 $ 4,086 238 900 1,937) 888) ( 300) ( ( 5,773 $ 980 $ 790 $ 43,400 $ 6,688 $ 3,225 $ 37,627) 5,708) ( 2,435) ( ( 5,773 $ 980 $ 790 $	Total
		49,865 $ 44,421)
		5,444 $
		5,444 $ 5,224 3,125)
		7,543 $
		53,313 $ 45,770)
		7,543 $

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----- Start of picture text -----

Machinery
equipment Office equipment Other equipment Total
January 1, 2024
Cost $ 54,711 $ 6,679 $ 3,215 $ 64,605
Accumulated depreciation ( 50,381) ( 4,184) ( 2,782) ( 57,347)
$ 4,330 $ 2,495 $ 433 $ 7,258
2024
Opening net book amount $ 4,330 $ 2,495 $ 433 $ 7,258
Additions 2,184 - - 2,184
Depreciation ( 2,890) ( 865) ( 243) ( 3,998)
Closing net book amount $ 3,624 $ 1,630 $ 190 $ 5,444
December 31, 2024
Cost $ 40,833 $ 6,641 $ 2,391 $ 49,865
Accumulated depreciation ( 37,209) ( 5,011) ( 2,201) ( 44,421)
$ 3,624 $ 1,630 $ 190 $ 5,444
----- End of picture text -----

• A. The Company has no property, plant and equipment pledged to others as collateral.

• B. The Company has no interest capitalized for the years ended December 31, 2025 and 2024.

• －

• (7) Lease transactions lessee

• A. The Company leases various assets including buildings and structures. Rental contracts are typically made for periods of 1 to 3 years. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose covenants.

• B. Short-term leases with a lease term of 12 months or less comprise parking and office spaces. Lowvalue assets comprise multifunction printers. These leases are not included in right-of-use assets.

• C. The carrying amount of right-of-use assets and the depreciation charge are as follows:

Buildings and structures Buildings and structures	December31,2025 December31,2024 Carrying amount Carrying amount 6,218 $ 14,986 $ Year ended December 31	December31,2024
		Carrying amount
		14,986 $
	2025 Depreciationcharge 8,829 $	2024
		Depreciationcharge
		8,852 $

• D. For the years ended December 31, 2025 and 2024, there were no additions to right-of-use assets.

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• E. Except for the depreciation mentioned above, other information on profit and loss accounts relating to lease contracts is as follows:

			Year ended	December 31	December 31
			2025		2024
Items affecting profit or loss
Interest expense on lease liabilities		$	188	$	336
Expense on short-term lease contracts			590		552
Expense on leases of low-value assets			120		123
(Loss) gain on lease modification	(		1)		1

• F. For the years ended December 31, 2025 and 2024, the Company’s total cash outflow for leases were $9,771 and $9,759, respectively.

(8) Short-term borrowings

Type of borrowings Bank unsecured borrowings Type ofborrowings Bank unsecured borrowings	December 31, 2025 148,000 $ December31,2024 150,000 $	Interest raterange 1.86% ~1.87% Interest raterange 1.98%	Collateral
			None Collateral
			None

Information relating to the guarantee notes issued for the above borrowings as of December 31, 2025 is provided in Note 9.

(9) Other payables

Wages, salaries and bonuses payable Employees’ compensation and directors’ remuneration payable Payables on purchases of materials on behalf of others Testing expenses payable Others	December31,2025 77,648 $ 21,942 90,995 211,939 71,655 474,179 $	December31,2024
		79,749 $ 16,189 155,511 172,687 65,369
		489,505 $

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(10) Pensions

• A. Defined benefit plan

• (a) The Company has a defined benefit pension plan in accordance with the Labor Standards Act, covering all regular employees’ service years prior to the enforcement of the Labor Pension Act on July 1, 2005 and service years thereafter of employees who chose to continue to be subject to the pension mechanism under the Labor Standards Act. Under the defined benefit pension plan, two units are accrued for each year of service for the first 15 years and one unit for each additional year thereafter, subject to a maximum of 45 units. Pension benefits are based on the number of units accrued and the average monthly salaries and wages of the last 6 months prior to retirement. The Company contributes monthly an amount equal to 2% of the employees’ monthly salaries and wages to the retirement fund deposited with Bank of Taiwan, the trustee, under the name of the independent retirement fund committee. Also, the Company would assess the balance in the aforementioned labor pension reserve account by the end of December 31, every year. If the account balance is insufficient to pay the pension calculated by the aforementioned method to the employees expected to qualify for retirement in the following year, the Company will make contributions for the deficit by next March.

• (b) The amounts recognised in the balance sheet are as follows:

	December	31,2025	December	31, 2024
Present value of defined benefit obligations	($	8,951)	($	11,605)
Fair value of plan assets		23,151		23,096
Net defined benefit asset	$	14,200	$	11,491

• (c) Movements in net defined benefit assets are as follows:

Present value of defined benefit obligations 2025 Balance at January 1 11,605) ($ Interest (expense) income 186) ( 11,791) ( Remeasurements: Return on plan assets (excluding amounts included in interest income or expense) - Change in financial assumptions 181) ( Experience adjustments 912 731 Pension fund contribution - Paid pension 2,109 ( Balance at December 31 8,951) ($	Fair value of Net defined plan assets benefit asset 23,096 $ 11,491 $ 370 184 23,466 11,675 1,603 1,603 - 181) ( - 912 1,603 2,334 - - 1,918) 191 23,151 $ 14,200 $

~30~

Present value of defined benefit obligations 2024 Balance at January 1 16,618) ($ Interest (expense) income 199) ( 16,817) ( Remeasurements: Return on plan assets (excluding amounts included in interest income or expense) - Change in financial assumptions 347 Experience adjustments 4,120 4,467 Pension fund contribution - Paid pension 745 ( Balance at December 31 11,605) ($	Fair value of plan assets 21,666 $ 260 21,926 1,915 - - 1,915 - 745) 23,096 $	Net defined benefit asset 5,048 $ 61 5,109 1,915 347 4,120
		6,382
		- - 11,491 $

• (d) The Bank of Taiwan was commissioned to manage the Fund of the Company’s defined benefit pension plan in accordance with the Fund’s annual investment and utilization plan and the “Regulations for Revenues, Expenditures, Safeguard and Utilization of the Labor Retirement Fund” (Article 6: The scope of utilization for the Fund includes deposit in domestic or foreign financial institutions, investment in domestic or foreign listed, over-thecounter, or private placement equity securities, investment in domestic or foreign real estate securitization products, etc.). With regard to the utilization of the Fund, its minimum earnings in the annual distributions on the final financial statements shall be no less than the earnings attainable from the amounts accrued from two-year time deposits with the interest rates offered by local banks. If the earnings is less than aforementioned rates, government shall make payment for the deficit after being authorized by the Regulator. The Company has no right to participate in managing and operating that fund and hence the Company is unable to disclose the classification of plan assets fair value in accordance with IAS 19 paragraph 142. The composition of fair value of plan assets as of December 31, 2025 and 2024 is given in the Annual Labor Retirement Fund Utilization Report announced by the government.

• (e) The principal actuarial assumptions used were as follows:

Discount rate Future salary increases	YearendedDecember31	YearendedDecember31
	2025 1.30% 3.00%	2024
		1.60%
		3.00%

Future mortality rate was estimated based on the 6th Taiwan Standard Ordinary Experience Mortality Table.

~31~

Because the main actuarial assumption changed, the present value of defined benefit obligation is affected. The analysis was as follows:

Increase 0.25% Decrease 0.25% December 31, 2025 Effect on present value of defined benefit obligation 152) ($ 156 $ December 31, 2024 Effect on present value of defined benefit obligation 209) ($ 215 $ Discount rate	Increase 0.25% Decrease 0.25% 131 $ 128) ($ 183 $ 179) ($ Future salaryincreases

The sensitivity analysis above is based on one assumption which changed while the other conditions remain unchanged. In practice, more than one assumption may change all at once. The method of analysing sensitivity and the method of calculating net pension liability in the balance sheet are the same.

The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the previous period.

• (f) Expected contributions to the defined benefit pension plan of the Company for the year ending December 31, 2026 amount to $0.

• (h) As of December 31, 2025, the weighted average duration of the retirement plan is 7 years. The analysis of timing of the future pension payment was as follows:

The analysis of timing of the future pension payment was as follows:
Within 1 year 1-2 years 2-5 years Over 5 years	1,169 $ 525 2,173 3,165
	7,032 $

B. Defined contribution plan

• (a) Effective July 1, 2005, the Company has established a defined contribution pension plan (the “New Plan”) under the Labor Pension Act (the “Act”), covering all regular employees with R.O.C. nationality. Under the New Plan, the Company contributes monthly an amount based on 6% of the employees’ monthly salaries and wages to the employees’ individual pension accounts at the Bureau of Labor Insurance. The benefits accrued are paid monthly or in lump sum upon termination of employment.

• (b) The pension costs under the defined contribution pension plan of the Company for the years ended December 31, 2025 and 2024 were $7,040 and $7,359, respectively.

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(11) Share-based payment

• A. For the years ended December 31, 2025 and 2024, the Company’s share-based payment arrangements were as follows:

Type ofarrangement Grant date First employee stock options 2021.8.31	Quantity granted 910	Contract period 4 years	Vesting conditions
			Note

Note: Stock options are 50% vested after two years from the grant date and 100% vested after three years from the grant date.

• B. Details of the share-based payment arrangements are as follows:

• First employee stock options

				2025	2025			2024	2024
				Weighted-average				Weighted-average
			No. of		exercise price		No. of		exercise price
			options		(indollars)		options		(indollars)
Options	outstanding at January 1		118	$	13.40		441	$	13.40
Options	exercised	(	118)		13.20	(	278)		13.40
Options	expired		-		-	(	45)		-
Options	outstanding at December 31		-		-		118		13.40
Options	exercisable at December 31		-		-		118		13.40

• C. As of December 31, 2025 and 2024, the exercise prices of stock options outstanding were $0 and $13.4 (in dollars), respectively; the weighted-average remaining contractual periods were 0 year and 0.25 year, respectively.

• D. The fair value of stock options granted on grant date is measured using the Black-Scholes optionpricing model. Relevant information is as follows:

Type of arrangement First employee stock options	Grantdate 2021.8.31	Stock price (indollars) $ 15.95	Exercise price (indollars) $ 15	Expected price volatility 34.49%	Expected option life 3.25 years	Expected dividends -	Risk- free rate 0.27%	Fair value per unit (indollars)
								$ 4.3229

• E. Expenses incurred on share-based payment transactions are shown below:

Equity-settled	YearendedDecember31	YearendedDecember31
	2025 - $	2024
		446 $

~33~

(12) Share capital

• A. As of December 31, 2025, the Company’s authorized capital was $1,000,000 and the paid-in capital was $774,491, consisting of 77,449 thousand shares of ordinary stock, with a par value of $10 (in dollars) per share.

• Movements in the number of the Company's ordinary shares outstanding are as follows (in thousands):

	2025	2024
At January 1	77,310	76,996
Employee stock options exercised	139	314
At December 31	77,449	77,310

• B. On March 11, 2024, the Board of Directors of the Company resolved the first subscription of issued new shares resulting from the exercise of employee stock options in 2021. Each unit can be used to subscribe 1 thousand ordinary shares. There were 58 units exercised to subscribe 58 thousand shares at $13.4 (in dollars) per share. The effective date of the capital increase was on March 12, 2024 and the registration was completed on April 9, 2024.

• C. On April 30, 2024, the Board of Directors of the Company resolved the first subscription of issued new shares resulting from the exercise of employee stock options in 2021. Each unit can be used to subscribe 1 thousand ordinary shares. There were 30 units exercised to subscribe 30 thousand shares at $13.4 (in dollars) per share. The effective date of the capital increase was on May 29, 2024 and the registration was completed on July 12, 2024.

• D. On November 1, 2024, the Board of Directors of the Company resolved the first subscription of issued new shares resulting from the exercise of employee stock options in 2021. Each unit can be used to subscribe 1 thousand ordinary shares. There were 226 units exercised to subscribe 226 thousand shares at $13.4 (in dollars) per share. The effective date of the capital increase was on November 4, 2024 and the registration was completed on November 20, 2024.

• E. On Febreuary 27, 2025, the Board of Directors of the Company resolved the first subscription of issued new shares resulting from the exercise of employee stock options in 2021. Each unit can be used to subscribe 1 thousand ordinary shares. There were 21 units exercised to subscribe 21 thousand shares at $13.4 (in dollars) per share. The effective date of the capital increase was on March 3, 2025 and the registration was completed on March 24, 2025.

• F. On August 4, 2025, the Board of Directors of the Company resolved the first subscription of issued new shares resulting from the exercise of employee stock options in 2021. Each unit can be used to subscribe 1 thousand ordinary shares. There were 118 units exercised to subscribe 118 thousand shares at $13.2 (in dollars) per share. The effective date of the capital increase was on August 5, 2025 and the registration was completed on September 16, 2025.

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(13) Capital surplus

Pursuant to the R.O.C. Company Act, capital surplus arising from paid-in capital in excess of par value on issuance of common stocks and donations can be used to cover accumulated deficit or to issue new stocks or cash to shareholders in proportion to their share ownership, provided that the Company has no accumulated deficit. Further, the R.O.C. Securities and Exchange Act requires that the amount of capital surplus to be capitalized mentioned above should not exceed 10% of the paidin capital each year. Capital surplus should not be used to cover accumulated deficit unless the legal reserve is insufficient.

(14) Retained earnings

• A. Under the Company’s Articles of Incorporation, the current year’s profit after tax, if any, shall first be used to offset prior years’ operating losses (including the adjustment of unappropriated earnings) and then 10% of the remaining amount shall be set aside as legal reserve until it reaches the Company’s paid-up capital. After that, special reserve shall be set aside or reversed in accordance with related regulations issued by the Competent Authority. The remainder, if any, along with accumulated unappropriated earnings at the beginning of the year (including the adjustment of unappropriated earnings) shall be proposed by the Board of Directors and resolved at the shareholders’ meeting to distribute as dividend and bonus or to reserve it. Effective from June 4, 2019, the Company authorizes the Board of Directors may, upon resolution adopted by a majority vote at a meeting of the Board of Directors attended by two-thirds of the total number of directors, distribute dividends and bonus, legal reserve or capital surplus regulated by Article 241 paragraph 1 of the Company Act, in whole or in part, in the form of cash, which shall also be reported at the shareholders’ meeting.

• B. The Company’s dividend policy is summarized below: the Company is in the development stage of the electronics industry. The dividend policy should be formulated by considering both the capital requirements of the new products and the increase in return on stockholders’ equity. Therefore, the total amounts of stockholders’ dividends should not less than 10% of the total distributable earnings and dividends could be distributed as stock dividends or cash dividends. However, cash dividends shall account for at least 10% of the total dividends distributed. The above restrictions will not be applicable if total amount of stockholders’ dividends is less than $0.5 (in dollars) per share.

• C. Except for covering accumulated deficit or issuing new stocks or cash to shareholders in proportion to their share ownership, the legal reserve shall not be used for any other purpose. The use of legal reserve for the issuance of stocks or cash to shareholders in proportion to their share ownership is permitted, provided that the distribution of the reserve is limited to the portion in excess of 25% of the Company’s paid-in capital.

• D. Special reserve

• (a) In accordance with the regulations, the Company shall set aside special reserve from the debit balance on other equity items at the balance sheet date before distributing earnings. When debit balance on other equity items is reversed subsequently, the reversed amount could be included in the distributable earnings.

~35~

• (b) The amounts previously set aside by the Company as special reserve of $5,672 on initial application of IFRSs in accordance with Order No. Financial-Supervisory-SecuritiesCorporate-1010012865, dated April 6, 2012, shall be reversed proportionately when the relevant assets are used, disposed of or reclassified subsequently.

• E. Distribution of retained earnings:

• (a) Details of the distribution of 2024 and the deficit compensation for 2023 earnings as approved at the shareholders’ meeting on May 27, 2025 and May 28, 2024, respectively, are as follows:

					Yearended	December31
			2024			2023
					Dividend			Dividend
					per share			per share
			Amount	(indollars)		Amount	(in dollars)
Legal reserve		$	9,916			- $
(Reversal of) appropriation
for special reserve	(		27,200)			398
Cash dividends			61,865	$	0.80	-	$	-

• (b) Subsequent events:

The appropriations of 2025 earnings had been proposed by the Board of Directors on March 3, 2026. Details are summarized as follows:

Legal reserve Cash dividends	YearendedDecember31,2025	YearendedDecember31,2025
	Amount 12,583 $ 85,194	Dividend per share (indollars)
		1.10 $

The appropriations of 2025 earnings, aside from the cash dividends which had been resolved by the Board of Directors and shall only be reported to the shareholders, have not yet been resolved by the shareholders as of March 3, 2026.

~36~

(15) Operating revenue

A. Disaggregation of revenue from contracts with customers:

At a point in time Sales of goods Broadband network application products Smart home IoT products Others Sales of services	2025 2024 1,732,201 $ 1,481,096 $ 1,604,967 892,406 165,831 19,459 115,852 61,976 3,618,851 $ 2,454,937 $ YearendedDecember31	2025 2024 1,732,201 $ 1,481,096 $ 1,604,967 892,406 165,831 19,459 115,852 61,976 3,618,851 $ 2,454,937 $ YearendedDecember31
		1,481,096 $ 892,406 19,459 61,976 2,454,937 $

B. Contract liabilities

The Company has recognised the following revenue-related contract liabilities:

Contract liabilities	December31,2025 December31,2024 295,635 $ 390,320 $	January1,2024
		133,309 $

The contract liability balances at the beginning of 2025 and 2024 amounting to $329,312 and $29,236 were recognised as operating revenue for the years ended December 31, 2025 and 2024, respectively.

(16) Interest income

Interest income	YearendedDecember31	YearendedDecember31
	2025 30,382 $	2024
		34,925 $

(17) Other income

Dividend income Advance receipts and payables overdue by more than two years reclassified as other income Other income	YearendedDecember31	YearendedDecember31
	2025 1,033 $ 34,193 8,368 43,594 $	2024
		1,231 $ - 541
		1,772 $

~37~

(18) Other gains and losses

		YearendedDecember31	YearendedDecember31	YearendedDecember31	YearendedDecember31
		2025			2024
Net currency exchange (loss) gain	($	17,071)		$	53,514
Net (loss) gain on financial assets or liabilities at
fair value through profit or loss - derivatives	(	27,430)			9,853
Net loss on financial assets or liabilities at
fair value through profit or loss - others	(	11,835)	(		15,660)
Others	(	349)	(		167)
	($	56,685)		$	47,540

(19) Expenses by nature

Employee benefit expense Depreciation Amortisation on intangible assets

Employee benefit expense Depreciation Amortisation on intangible assets

Year ended December 31,	Year ended December 31,	2025
Cost Expenses - $ 186,801 $ - 11,954 - 1,535 Year ended December 31,		Total
		186,801 $ 11,954 1,535 2024
Cost - $ - -	Expenses 191,300 $ 12,850 1,616	Total
		191,300 $ 12,850 1,616

(20) Employee benefit expense

Wages and salaries Labour and health insurance fees Pension costs Directors’ remuneration Other personnel expenses Wages and salaries Labour and health insurance fees Pension costs Directors’ remuneration Other personnel expenses	YearendedDecember31,	YearendedDecember31,	2025
	Cost Expenses - $ 159,449 $ - 12,181 - 6,856 - 1,672 - 6,643 - $ 186,801 $ YearendedDecember31,		Total
			159,449 $ 12,181 6,856 1,672 6,643
			186,801 $
			2024
	Cost - $ - - - - - $	Expenses 163,571 $ 12,855 7,298 1,238 6,338 191,300 $	Total
			163,571 $ 12,855 7,298 1,238 6,338
			191,300 $

~38~

• A. In accordance with the Articles of Incorporation of the Company, a ratio of distributable profit of the current year, after covering accumulated losses, shall be distributed as employees’ compensation and directors’ remuneration. The ratio shall not be lower than 12% for employees’ compensation and shall not be higher than 1.5% for directors’ remuneration.

• B. For the years ended December 31, 2025 and 2024, employees’ compensation was accrued at $20,270 and $14,951, respectively; directors’ remuneration was accrued at $1,672 and $1,238, respectively. The aforementioned amounts were recognised in salary expenses.

• The employees’ compensation and directors’ remuneration were estimated and accrued based on 12% and 1% of distributable profit for the year ended December 31, 2025, respectively. The employees’ compensation and directors’ remuneration resolved by the Board of Directors on March 3, 2026 were $20,270 and $1,672, respectively, and the employees’ compensation will be distributed in the form of cash.

• C. For 2024, the employees’ compensation and directors’ remuneration resolved by the Board of Directors amounted to $14,943 and $1,245, respectively. The difference between the amounts resolved by the Board of Directors and the amounts recognised in the 2024 financial statements had been adjusted in the profit or loss of 2025.

• Information about employees’ compensation and directors’ remuneration of the Company as resolved by the Board of Directors will be posted in the “Market Observation Post System” at the website of the Taiwan Stock Exchange.

• D. As at December 31, 2025 and 2024, the Company had 122 and 132 employees, including 5 nonemployee directors, respectively.

• E. (a) Average employee benefit expenses for the years ended December 31, 2025 and 2024 were $1,582 and $1,496, respectively.

• (b) Average employee salaries for the years ended December 31, 2025 and 2024 were $1,363 and $1,288, respectively.

• (c) Adjustment of average employee salaries was 6%.

• (d) Non-employee directors are not included in the above calculations of average employee benefit expenses and average employee salaries.

• (e) The Company has no supervisors’ remuneration as it has set up an audit committee.

• (f) The Company’s remuneration policy is as follows: Remuneration of directors (including independent directors) includes rewards and directors’ remuneration from earnings distribution. The remuneration is determined by the remuneration committee after considering directors’ participation in the operations of the Company and the value of their contribution to the Company. Remuneration of managers includes salaries, bonuses, employees’ compensation, pensions contributed under regulations. The remuneration is determined by the remuneration committee after considering the Company’s annual operating revenue, profit performance and the achievement of the managers’ performance goals and by referring to the performance and general pay levels of the same industry. Remuneration of employees includes monthly salaries, bonuses and employees’ compensation. The salary standard of the employees is determined based on the position, education and work experience, professional expertise and market value. The employees’ compensation will be

~39~

distributed in the form of shares or cash as resolved by the Board of Directors. The Company evaluates the performance of its employees annually to make sure it knows well about its employees’ working performance and uses the appraisal as basis for promotion, training development and remuneration distribution. Directors’ and managers’ remuneration are reported to the Board of Directors for resolution after being discussed by the remuneration committee.

(21) Income tax

A. Components of income tax expense

Current tax: Current tax on profits for the year Tax on undistributed earnings Prior year income over estimation ( Total current tax Deferred tax: Origination and reversal of temporary differences ( Income tax expense	2025 2024 26,800 $ - $ 2,729 - 6,442) - 23,087 - 1,280) 15,620 21,807 $ 15,620 $ YearendedDecember31

• B. Reconciliation between income tax expense and accounting profit

			YearendedDecember31	YearendedDecember31
			2025	2024
Tax calculated based on profit before tax
and statutory tax rate		$	29,060	$	21,680
Effect from items adjusted in accordance with
tax regulation			4,085		2,873
Temporary differences not recognised as
deferred tax	(		7,625)	(	14,922)
Tax loss not recognised as deferred tax assets			-		5,989
Prior year income tax over estimation	(		6,442)		-
Tax on undistributed earnings			2,729		-
Income tax expense		$	21,807	$	15,620

~40~

C. Amounts of deferred tax assets or liabilities as a result of temporary differences are as follows:

						2025
						Recognised in
			AtJanuary1			profitor loss		At	December31
Deferred tax assets:
Unrealised loss on valuation of
financial assets		$	-		$	1,502		$	1,502
Allowance for doubtful accounts
in excess of tax limit			853			777			1,630
Unrealised pension contribution			56	(		56)			-
			909			2,223			3,132
Deferred tax liabilities:
Unrealised exchange gain	(		3,510)	(		1,559)	(		5,069)
Unrealised gain on valuation of
financial assets	(		363)			363			-
Gains on investments in foreign
investees accounted for using
the equity method	(		253)			253			-
	(		4,126)	(		943)	(		5,069)
	($		3,217)		$	1,280	($		1,937)
						2024
						Recognised in
			AtJanuary1			profitor loss		At	December31
Deferred tax assets:
Unrealised exchange loss		$	7,082	($		7,082)		$	-
Unrealised loss on valuation of
financial assets			2,086	(		2,086)			-
Allowance for doubtful accounts
in excess of tax limit			3,432	(		2,579)			853
Unrealised pension contribution			56			-			56
			12,656	(		11,747)			909
Deferred tax liabilities:
Unrealised exchange gain			-	(		3,510)	(		3,510)
Unrealised gain on valuation of
financial assets			-	(		363)	(		363)
Gains on investments in foreign
investees accounted for using
the equity method	(		253)			-	(		253)
	(		253)	(		3,873)	(		4,126)
		$	12,403	($		15,620)	($		3,217)

~41~

• D. Expiration dates of unused tax losses and amounts of unrecognised deferred tax assets are as follows:

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----- Start of picture text -----

December 31, 2025
Amount filed/ Unrecognised deferred
Year incurred assessed Unused amount tax assets Expiry year
2024 $ 26,015 $ 26,015 $ 26,015 2034
December 31, 2024
Amount filed/ Unrecognised deferred
Year incurred assessed Unused amount tax assets Expiry year
2024 $ 29,947 $ 29,947 $ 29,947 2034
----- End of picture text -----

• E. The Company has not recognised taxable temporary differences associated with investment in subsidiaries as deferred tax liabilities. As of December 31, 2025 and 2024, the amounts of temporary differences unrecognised as deferred tax liabilities were $347,941 and $309,815, respectively.

• F. The Company’s income tax returns through 2022 have been assessed and approved by the Tax Authority.

(22) Earnings per share

Basic earnings per share Profit attributable to ordinary shareholders Diluted earnings per share Assumed conversion of all dilutive potential ordinary shares - employees’ compensation Profit attributable to ordinary shareholders plus assumed conversion of all dilutive potential ordinary shares	Year	endedDecember31,2025	endedDecember31,2025
	Amount after tax ( 123,498 $ - 123,498 $	Weighted average number of ordinary shares outstanding Earnings per share sharesin thousands) (indollars) 77,376 1.60 $ 428 77,804 1.59 $
			1.60 $
			1.59 $

~42~

Basic earnings per share Profit attributable to ordinary shareholders Diluted earnings per share Assumed conversion of all dilutive potential ordinary shares - employees’ compensation Profit attributable to ordinary shareholders of the parent plus assumed conversion of all dilutive potential ordinary shares	Amount Weighted average number of ordinary shares outstanding Earnings per share after tax (sharesin thousands) (indollars) 92,779 $ 77,096 1.20 $ - 315 92,779 $ 77,411 1.20 $ YearendedDecember31,2024

(23) Changes in liabilities from financing activities

2025

								Other
			Short-term					payables to
			borrowings	Lease	liabilities		related parties				Total
At January 1		$	150,000	$	15,149		$	327,900		$	493,049
Changes in cash flow
from financing activities	(		2,000)	(	8,873)	(		38,836)	(		49,709)
Changes in other non-cash items			-		62			-			62
At December 31		$	148,000	$	6,338		$	289,064		$	443,402
					2024
								Other
			Short-term					payables to
			borrowings	Lease	liabilities		related parties				Total
At January 1		$	432,000	$	24,050		$	307,050		$	763,100
Changes in cash flow
from financing activities	(		282,000)	(	8,748)			20,850	(		269,898)
Changes in other non-cash items			-	(	153)			-	(		153)
At December 31		$	150,000	$	15,149		$	327,900		$	493,049

~43~

7. RELATED PARTY TRANSACTIONS

(1) Parent and ultimate controlling party

The parent company of the Company is Chicony Electronics Co., Ltd.

(2) Names of related parties and relationship

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----- Start of picture text -----

Names of related parties Relationship with the Company
----- End of picture text -----

Names of related parties	Relationship with the Company
Chicony Electronics Co., Ltd.	Parent company
Chicony Power Technology Co., Ltd.	Equity controlled by the same parent company
Systemax Development Ltd.	Subsidiary
Directmax International Ltd.	Subsidiary
XAVi Technologies (Suzhou) Co., Ltd.	Subsidiary
XAVi Technologies (Thailand) Co., Ltd.	Subsidiary

(3) Significant related party transactions

A. Operating revenue:

nificant related party transactions Operating revenue:
		Year ended	December 31
		2025		2024
Sales of services:
Parent company	$	341	$	391
Chicony Power Technology Co., Ltd.		353		-
	$	694	$	391

The terms of the sales to related parties were the same as those to third parties. B. Purchases:

Purchases of goods: XAVi Technologies (Suzhou) Co., Ltd. XAVi Technologies (Thailand) Co., Ltd.	Year ended December 31	Year ended December 31
	2025 508,163 $ 2,712,322 3,220,485 $	2024
		652,629 $ 1,532,752
		2,185,381 $

The terms of the purchases from related parties were the same as those from third parties.

C. Receivables from related parties:

Receivables from related parties:
Accounts receivable: Chicony Power Technology Co., Ltd. Other receivables: Parent company XAVi Technologies (Thailand) Co., Ltd.	December31,2025 381 $ - 49,229 49,229 49,610 $	December31,2024
		- $ 527 117,464
		117,991
		117,991 $

~44~

The accounts receivable from related parties arise mainly from sales transactions. The accounts receivable are unsecured in nature and bear no interest. Other receivables arise mainly from payments on behalf of related parties.

• D. Payables to related parties:

Accounts payable: XAVi Technologies (Suzhou) Co., Ltd. Other payables: Parent company Systemax Development Ltd. Equity controlled by the same parent company	December31,2025 December31,2024 110,810 $ 127,593 $ 1,878 1,025 19,534 16,101 - 42 21,412 17,168 132,222 $ 144,761 $

The accounts payable to related parties arise mainly from purchase transactions. The accounts payable bear no interest. Other payables mainly pertain to management service expense, collections on behalf of related parties, operating leases.

• E. Purchases of services and other expenses

Parent company Equity controlled by the same parent company	Year ended December 31	Year ended December 31
	2025 3,524 $ - 3,524 $	2024
		2,297 $ 398
		2,695 $

Purchases of services pertain to the expenses arising from management service rendered by the above related parties to the Company.

• －

• F. Lease transactions lessee

• (a) As of December 31, 2025, the main lease contracts signed between the Company and related parties are as follows:

Lessor Leasedassets Parent company Buildings and structures	Rent payment and calculation Lease period $531 per month 2023.10.1~2026.9.30	Lease period

• (b) Lease liability

• i. Outstanding balance

Parent company	December31,2025 December 31, 2024 4,747 $ 10,865 $

~45~

ii. Interest expense

	Yearended	December31
	2025	2024
Parent company	137 $	240 $

• G. Financing

• (a) Loans to related parties

  • i. Outstanding balance

	December31,2025	December31,2024
XAVi Technologies (Thailand) Co., Ltd.	188,520 $	262,320 $

• ii. Interest income

		Yearended	December31	December31
		2025		2024
XAVi Technologies (Thailand) Co., Ltd.	$	4,180	$		4,398
The loans to related parties are payable within a year		and carry interest at 2.0% per annum
for the years ended December 31, 2025 and	2024.
Loans from related parties
	December31,2025		December		31,2024
Systemax Development Ltd.	$	219,940	$		229,530
Directmax International Ltd.		69,124			98,370
	$	289,064	$		327,900

The loans to related parties are payable within a year and carry interest at 2.0% per annum for the years ended December 31, 2025 and 2024.

• (b) Loans from related parties

The loans from related parties are repayable within a year and carry interest both at 0% per annum for the years ended December 31, 2025 and 2024.

(4) Key management compensation

Salaries and other short-term employee benefits Post-employment benefits	YearendedDecember31	YearendedDecember31
	2025 11,780 $ 268 12,048 $	2024
		11,745 $ 235
		11,980 $

8. PLEDGED ASSETS

The Company’s assets pledged as collateral are as follows:

Pledgedasset Refundable deposits (shown as ‘other non-current assets’)	December31,2025 December31,2024 752 $ 752 $	Purpose
		Lease deposits

~46~

9. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNISED CONTRACT COMMITMENTS

• (1) As of December 31, 2025, the guarantee notes issued by the Company for bank borrowings and export bill negotiations amounted to $2,600,440.

• (2) The Company’s subsidiary XAVi Technologies (Suzhou) Co., Ltd., is currently involved in a civil compensation lawsuit filed by a supplier arising from a procurement dispute. As the matter remains under dispute, the Company currently assesses that the lawsuit is unlikely to have a material impact on its financial position or operating results. As of March 3, 2026, the Company estimates that it is improbable to incur any significant liabilities and accordingly has not recognized any contingent liabilities in connection with this lawsuit.

10. SIGNIFICANT DISASTER LOSS

None.

11. SIGNIFICANT EVENTS AFTER THE BALANCE SHEET DATE

On March 3, 2026, the Board of Directors during its meeting resolved the distribution of 2025 earnings and proposed the distribution of employees’ compensation and directors’ remuneration. The information is provided in Notes 6(14) and 6(20).

12. OTHERS

(1) Capital management

The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern in order to provide returns for shareholders and to maintain an optimal capital structure to reduce the cost of capital.

(2) Financial instruments

• A. Financial instruments by category

pital structure to reduce the cost of capital. nancial instruments Financial instruments by category
Financial assets Financial assets mandatorily measured at fair value through profit or loss Financial assets at amortised cost Cash and cash equivalents Accounts receivable (including related parties) Other receivables (including related parties) Guarantee deposits paid Financial liabilities Financial liabilities mandatorily measured at fair value through profit or loss Financial liabilities at amortised cost Short-term borrowings Accounts payable (including related parties) Other payables (including related parties) Lease liabilities	December31,2025 23,032 $ 554,049 945,005 257,066 752 1,779,904 $ 8,084 $ 148,000 110,810 784,655 6,338 1,057,887 $	December31,2024
		35,783 $ 774,021 708,633 388,100 752
		1,907,289 $
		865 $ 150,000 127,593 834,573 15,149
		1,128,180 $

~47~

• B. Financial risk management policies

• (a) The Company’s activities expose it to a variety of financial risks: market risk (including foreign exchange risk, interest rate risk and price risk), credit risk and liquidity risk. The Company’s overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the Company’s financial position and financial performance.

• (b) Risk management is carried out by the finance and accounting department under policies approved by the Board of Directors. The finance and accounting department identifies, evaluates and hedges financial risks in close cooperation with the Company’s operating units. The Board provides written principles for overall risk management, as well as written policies covering specific areas and matters, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments, and investment of excess liquidity.

• C. Significant financial risks and degrees of financial risks

• (a) Market risk

Exchange rate risk

• i. The Company operates internationally and is exposed to exchange rate risk arising from various currencies, primarily with respect to the USD and THB. Foreign exchange rate risk arises from future commercial transactions, recognised assets and liabilities and net investments in foreign operations.

• ii. The Company’s businesses involve some non-functional currency operations. The information on assets and liabilities denominated in foreign currencies whose values would be materially affected by the exchange rate fluctuations is as follows:

(Foreign currency: functional currency) Financial assets Monetary items USD:NTD Non-monetary items USD:NTD THB:NTD Financial liabilities Monetary items USD:NTD	Foreign currency amount (In thousands) Exchangerate $ 56,009 31.4200 14,954 31.4200 257,744 0.9961 $ 26,961 31.4200 December31,2025	Book value (NTD)
		$ 1,759,803 469,848 256,739 $ 847,115

~48~

December 31, 2024

		Foreign
	currency amount				Book value
		(In thousands)	Exchangerate		(NTD)
(Foreign currency:
functional currency)
Financial assets
Monetary items
USD:NTD	$	58,932	32.7900	$	1,932,380
Non-monetary items
USD:NTD		15,051	32.7900		493,522
THB:NTD		238,859	0.9555		228,230
Financial liabilities
Monetary items
USD:NTD	$	27,113	32.7900	$	889,035

iii. The total exchange (loss) gain, including realised and unrealised, arising from significant foreign exchange variation on the monetary items held by the Company for the years ended December 31, 2025 and 2024 amounted to ($17,071) and $53,514, respectively.

iv. Analysis of foreign currency market risk arising from significant foreign exchange variation:

(Foreign currency: functional currency) Financial assets Monetary items USD:NTD Non-monetary items USD:NTD THB:NTD Financial liabilities Monetary items USD:NTD	YearendedDecember31, Sensitivityanalysis	YearendedDecember31, Sensitivityanalysis	2025
	Degree of variation 1% 1% 1% 1%	Effect on profitor loss $ 17,598 - - $ 8,471	Effect on other comprehensive income
			$ - 4,698 2,567 $ -

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Year ended December 31, 2024
Sensitivity analysis
Effect on other
Degree of Effect on comprehensive
variation profit or loss income
(Foreign currency:
functional currency)
Financial assets
Monetary items
USD:NTD 1% $ 19,324 $ -
Non-monetary items
USD:NTD 1% - 4,935
THB:NTD 1% - 2,282
Financial liabilities
Monetary items
USD:NTD 1% $ 8,890 $ -
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Price risk

• i. The Company’s equity securities, which are exposed to price risk, are the held financial assets at fair value through profit or loss and financial assets at fair value through other comprehensive income. To manage its price risk arising from investments in equity securities, the Company diversifies its portfolio. Diversification of the portfolio is done in accordance with the limits set by the Company.

• ii. The Company’s investments in equity securities comprise shares and open-end funds issued by the domestic and foreign companies. The prices of equity securities would change due to the change of the future value of investee companies. If the prices of these equity securities had increased/decreased by 1% with all other variables held constant, post-tax profit for the years ended December 31, 2025 and 2024 would have increased/decreased by $149 and $349, respectively, as a result of gains/losses on equity securities classified as at fair value through profit or loss.

Cash flow and fair value interest rate risk

The Company’s main interest rate risk arises from short-term borrowings. Borrowings issued at variable rates expose the Company to cash flow interest rate risk which is partially offset by cash and cash equivalents held at variable rates. During the years ended December 31, 2025 and 2024, the Company’s borrowings at variable rates were denominated in NTD. As of December 31, 2025 and 2024, if the borrowing interest rate had increased/decreased by 1% with all other variables held constant, the effect on interest expenses for the years ended December 31, 2025 and 2024 would be $1,480 and $1,500, respectively.

• (b) Credit risk

• i. Credit risk refers to the risk of financial loss to the Company arising from default by the clients or counterparties of financial instruments on the contract obligations. The main factor is that counterparties could not repay in full the accounts receivable based on the

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agreed terms, and the contract cash flows of debt instruments stated at fair value through profit or loss.

• ii. According to the Company’s credit policy, the Company is responsible for managing and analysing the credit risk for each of the new clients before standard payment and delivery terms and conditions are offered. Internal risk control assesses the credit quality of the customers, taking into account their financial position, past experience and other factors. Individual risk limits are set based on internal or external ratings in accordance with limits set by the Board of Directors. The utilisation of credit limits is regularly monitored.

• iii. The Company manages credit risk of cash in banks and other financial instruments based on the Company’s credit policy. Banks with good credit and financial institutions with investment-grade credit ratings are accepted as counterparties.

• iv. The Company adopts the following assumption under IFRS 9 to assess whether there has been a significant increase in credit risk on that instrument since initial recognition: If the contract payments were past due over 30 days based on the terms, there has been a significant increase in credit risk on that instrument since initial recognition.

• v. The Company classifies customer’s accounts receivable in accordance with customer types. The Company applies the simplified approach using a provision matrix to estimate the expected credit loss.

• vi. The Company adopts the assumptions under IFRS 9, that is, the default occurs when the contract payments are past due over 90 days.

• vii. The following indicators are used to determine whether the credit impairment of debt instruments has occurred:

• (i) It becomes probable that the issuer will enter bankruptcy or other financial reorganisation due to their financial difficulties;

• (ii) The disappearance of an active market for that financial asset because of financial difficulties;

• (iii) Default or delinquency in interest or principal repayments;

• (iv) Adverse changes in national or regional economic conditions that are expected to cause a default.

• viii. The Company used the forecastability to adjust historical and timely information to assess the default possibility of accounts receivable (including related parties). On December 31, 2025 and 2024, the provision matrix is as follows:

December 31, 2025 Individual Not past due Up to 30 days past due 31 ~ 60 days past due 61 ~ 90 days past due Over 90 days past due Total	Expectedlossrate 100% 0%~1% 3%~10% 3%~35% 3%~35% 100%	Totalbookvalue 6,456 $ 759,509 111,279 26,463 55,428 - 959,135 $	Loss allowance
			6,456 $ 228 3,352 1,323 2,771 -
			14,130 $

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December 31, 2024 Expectedlossrate Individual 100% Not past due 0%~1% Up to 30 days past due 0%~3% 31 ~ 60 days past due 0%~5% 61 ~ 90 days past due 0%~5% Over 90 days past due 100% Total	Totalbookvalue 7,029 $ 504,884 208,187 - - - 720,100 $	Loss allowance 7,029 $ 151 4,287 - - -
		11,467 $

• ix. Movements in relation to the Company applying the simplified approach to provide loss allowance for accounts receivable is as follows:

At January 1 Provision for impairment loss Reversal of impairment loss At December 31	2025 Accountsreceivable 11,467 $ 2,663 - ( 14,130 $	2024 Accountsreceivable 20,480 $ - 9,013) 11,467 $

(c) Liquidity risk

• i. Cash flow forecasting is performed in the operating entities of the Company and aggregated by the Company’s finance and accounting department. The Company’s finance and accounting department monitors rolling forecasts of the Company’s liquidity requirements to ensure it has sufficient cash to meet operational needs while maintaining sufficient headroom on its undrawn committed borrowing facilities at all times so that the Company does not breach borrowing limits or covenants (where applicable) on any of its borrowing facilities. Such forecasting takes into consideration the Company’s debt financing plans, covenant compliance, compliance with internal balance sheet ratio targets and, if applicable external regulatory or legal requirements.

• ii. The Company’s finance and accounting department invests surplus cash in interest bearing current accounts, time deposits and marketable securities, choosing instruments with appropriate maturities or sufficient liquidity to provide sufficient headroom as determined by the abovementioned forecasts. As at December 31, 2025 and 2024, the Company held money market position of $570,427 and $804,545, respectively, that are expected to readily generate cash inflows for managing liquidity risk.

• iii. The Company has the following undrawn borrowing facilities:

Expiring within one year	December31,2025 December 31, 2024 2,169,660 $ 2,229,170 $

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• iv. The table below analyses the Company’s non-derivative financial liabilities and netsettled or gross-settled derivative financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date for non-derivative financial liabilities and to the expected maturity date for derivative financial liabilities. The amounts disclosed in the table are the contractual undiscounted cash flows:

December 31, 2025 Non-derivative financial liabilities Short-term borrowings Accounts payable (including related parties) Other payables (including related parties) Lease liabilities Derivative financial liabilities Financial liabilities at fair value through profit or loss December 31, 2024 Non-derivative financial liabilities Short-term borrowings Accounts payable (including related parties) Other payables (including related parties) Lease liabilities Derivative financial liabilities Financial liabilities at fair value through profit or loss	Lessthan 1year 148,251 $ 110,810 784,655 6,381 8,084 $ Lessthan 1year 150,537 $ 127,593 834,573 9,049 865 $	Over 1year
		- $ - - - - $ Over 1year
		- $ - - 6,330 - $

(3) Fair value information

• A. The different levels that the inputs to valuation techniques are used to measure fair value of financial and non-financial instruments have been defined as follows:

• Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date. A market is regarded as active where a market in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. The fair value of the Company’s investment in listed stocks, beneficiary certificates and convertible bonds is included in Level 1.

• Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. The fair value of the Company’s investment in most derivative instruments is included in Level 2.

• Level 3: Unobservable inputs for the asset or liability.

• B. The carrying amounts of the Company’s cash and cash equivalents, accounts receivable (including related parties), other receivables (including related parties), short-term borrowings, accounts payable (including related parties) and other payables (including related parties) are approximate to their fair values.

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• C. The related information on financial and non-financial instruments measured at fair value by level on the basis of the nature, characteristics and risks of the assets and liabilities is as follows: (a) The related information on the nature of the assets and liabilities is as follows:

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December 31, 2025 Level 1 Level 2 Level 3 Total
Assets
Recurring fair value measurements
Financial assets mandatorily
measured at fair value
through profit or loss
- -
Equity securities $ 16,391 $ $ $ 16,391
Debt securities 98 - - 98
- -
Beneficiary certificates 5,970 5,970
Non-hedging derivatives
Forward foreign exchange contracts - 573 - 573
$ 22,459 $ 573 $ - $ 23,032
Liabilities
Recurring fair value measurements
Financial liabilities mandatorily
measured at fair value through
profit or loss
Non-hedging derivatives
Forward foreign exchange contracts $ - $ 8,084 $ - $ 8,084
December 31, 2024 Level 1 Level 2 Level 3 Total
Assets
Recurring fair value measurements
Financial assets mandatorily
measured at fair value
through profit or loss
- -
Equity securities $ 28,513 $ $ $ 28,513
- -
Beneficiary certificates 4,590 4,590
Non-hedging derivatives
- -
Forward foreign exchange contracts 2,432 2,432
Foreign exchange swap contracts - 248 - 248
$ 33,103 $ 2,680 $ - $ 35,783
Liabilities
Recurring fair value measurements
Financial liabilities mandatorily
measured at fair value through
profit or loss
Non-hedging derivatives
Forward foreign exchange contracts $ - $ 865 $ - $ 865
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• (b) The methods and assumptions the Company used to measure fair value are as follows:

  • i. The instruments the Company used market quoted prices as their fair values (that is, Level 1) are listed below by characteristics:

    • Listed shares Open-end fund Convertible bonds

    • Market quoted price Closing price Net asset value Closing price

  • ii. Except for financial instruments with active markets, the fair value of other financial instruments is measured by using valuation techniques or by reference to counterparty quotes.

• D. For the years ended December 31, 2025 and 2024, there was no transfer between Level 1 and Level 2.

• E. For the years ended December 31, 2025 and 2024, there was no transfer into or out from Level 3.

13. SUPPLEMENTARY DISCLOSURES

(1) Significant transactions information

• A. Loans to others: Refer to table 1.

• B. Provision of endorsements and guarantees to others: Refer to table 2.

• C. Holding of significant marketable securities at the end of the period (not including subsidiaries, associates and joint ventures): Refer to table 3.

• D. Purchases or sales of goods from or to related parties reaching $100 million or 20% of paid-in capital or more: Refer to table 4.

• E. Receivables from related parties reaching $100 million or 20% of paid-in capital or more: Refer to table 5.

• F. Significant inter-company transactions during the reporting period: Refer to table 6.

(2) Information on investees

Names, locations and other information of investee companies (not including investees in Mainland China): Refer to table 7.

(3) Information on investments in Mainland China

• A. Basic information: Refer to table 8.

• B. Significant transactions, either directly or indirectly through a third area, with investee companies in the Mainland Area: Refer to note 13(1).

14. SEGMENT INFORMATION

Not applicable.

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XAVI TECHNOLOGIES CORPORATION DETAILS OF CASH AND CASH EQUIVALENTS DECEMBER 31, 2025

(Expressed in thousands of New Taiwan dollars)

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Items Description Amount
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Cash on hand and revolving funds Checking accounts and demand deposits Foreign currency deposits －USD deposits USD 14,306 thousand; exchange rate 31.42 －Other foreign currency Time deposits －USD deposits USD 3,020 thousand; exchange rate 31.42	684 $ 3,313 449,485 5,678 94,889 554,049 $

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XAVI TECHNOLOGIES CORPORATION DETAILS OF FINANCIAL ASSETS AND LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS DECEMBER 31, 2025

(Expressed in thousands of New Taiwan dollars)

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Fair Value
Name of Financial Instrument Shares/Bonds/Units Cost Unit Price Total Amount
Financial assets at fair value through profit or loss - current
Listed stocks
Laster Tech Corporation Ltd. 855,929 (shares) $ 73,717 $ 19.15 $ 16,391
Convertible bonds
Far Eastern New Century Corporation, 1,000 (bonds) 95 98.15 98
the second domestic unsecured convertible bonds
Non-hedging derivative instruments
Forward foreign exchange contracts - 573 - 573
$ 74,385 $ 17,062
Financial assets at fair value through profit or loss - non-current
Beneficiary certificates
Fuh Hwa New Oriental Securities Investment Trust Fund 3,000,000 (units) $ 30,000 $ 1.99 $ 5,970
Financial liabilities at fair value through profit or loss - current
Non-hedging derivative instruments
Forward foreign exchange contracts - $ 8,084 $ - $ 8,084
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XAVI TECHNOLOGIES CORPORATION DETAILS OF ACCOUNTS RECEIVABLE DECEMBER 31, 2025

(Expressed in thousands of New Taiwan dollars)

Client Name Non-related parties: Client A Client B Client C Client D Others Less: Allowance for uncollectible accounts ( Related parties: Chicony Power Technology Co., Ltd.	Amount 370,719 $ 311,932 115,878 104,469 55,756 958,754 14,130) 944,624 $ 381 $	Note
		Each individual customer balance did not exceed 5% of the account balance

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XAVI TECHNOLOGIES CORPORATION DETAILS OF INVESTMENTS ACCOUNTED FOR UNDER EQUITY METHOD FOR THE YEAR ENDED DECEMBER 31, 2025

(Expressed in thousands of New Taiwan dollars)

Name	BeginningBalance	BeginningBalance	BeginningBalance	Addition(Note)	Addition(Note)	Addition(Note)	Decrease(Note)	Decrease(Note)	Decrease(Note)		EndingBalance	EndingBalance	Amount 469,848 $ 256,739 726,587 $	Fair value or net assets value 469,848 $ 256,739 726,587 $	Collateral
	Shares		Amount	Shares		Amount	Shares	Amount		Shares	Percentage of Ownership
Directmax International Ltd. XAVi Technologies (Thailand) Co., Ltd.	7,750,000 7,999,997		493,525 $ 228,230 721,755 $	- -		5,753 $ 28,509 34,262 $	1,000,000) ( -	29,430) ($ -		6,750,000 7,999,997	100% 100%				None "
									29,430) ($

Note: The increases during the year include gains on investments accounted for using the equity method and cumulative effect of exchange differences on translation of foreign financial statements.

The decreases during the year include return of capital to shareholders due to capital reduction.

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XAVI TECHNOLOGIES CORPORATION DETAILS OF PROPERTY, PLANT AND EQUIPMENT FOR THE YEAR ENDED DECEMBER 31, 2025

(Expressed in thousands of New Taiwan dollars)

Refer to Note 6(6), Property, plant and equipment, of parent company only financial statements for details.

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XAVI TECHNOLOGIES CORPORATION DETAILS OF SHORT-TERM BORROWINGS DECEMBER 31, 2025

(Expressed in thousands of New Taiwan dollars)

[Refer to Note 6(8), Short-term borrowings, of parent company only financial statements for details.]

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XAVI TECHNOLOGIES CORPORATION DETAILS OF OTHER PAYABLES DECEMBER 31, 2025

(Expressed in thousands of New Taiwan dollars)

[Refer to Note 6(9), Other payables, of parent company only financial statements for details.]

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XAVI TECHNOLOGIES CORPORATION DETAILS OF SALES REVENUE FOR THE YEAR ENDED DECEMBER 31, 2025

(Expressed in thousands of New Taiwan dollars)

Items	Quantity		Amount
Broadband network application products	1,950 thousand pieces	$	1,732,201
Smart home IoT products	2,547 thousand pieces		1,604,967
Others			281,683
Total		$	3,618,851

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XAVI TECHNOLOGIES CORPORATION DETAILS OF OPERATING COSTS

FOR THE YEAR ENDED DECEMBER 31, 2025

(Expressed in thousands of New Taiwan dollars)

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Items Amount
Inventories at January 1 $ 49,134
Add: Purchases 3,219,082
Processing fee 7,904
Transferred from operating expenses 1,091
Others 6
Less: Inventories at December 31 ( 92,488)
Transferred to operating expenses ( 74)
Cost of goods sold 3,184,655
Other operating costs 80,219
Operating cost $ 3,264,874
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XAVI TECHNOLOGIES CORPORATION DETAILS OF OPERATING EXPENSES FOR THE YEAR ENDED DECEMBER 31, 2025

(Expressed in thousands of New Taiwan dollars)

Items SellingExpenses Wages and salaries 25,649 $ Pensions 1,142 Labour and health insurance fees 1,995 Rent expense 125 Traveling expense 2,252 Postage expenses 2,628 Repairs and maintenance expense 7 Utilities 305 Insurance expense 6,527 Depreciation expense 1,722 Amortisation expense - Meal expense 730 Service fees 67 Employee benefits 369 Export expense 5,119 Others 5,831 54,468 $	General and Administrative Expenses 48,450 $ 1,367 3,154 25 1,286 1,992 487 376 481 2,692 258 1,234 8,044 679 2 3,250 73,777 $	Research and Development Expenses 87,022 $ 4,347 7,032 560 2,666 1,331 150 1,028 378 7,540 1,277 2,425 424 1,206 50 11,834 129,270 $	Total
			161,121 $ 6,856 12,181 710 6,204 5,951 644 1,709 7,386 11,954 1,535 4,389 8,535 2,254 5,171 20,915
			257,515 $

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XAVI TECHNOLOGIES CORPORATION DETAILS OF EMPLOYEE BENEFITS, DEPRECIATION AND AMORTISATION FOR THE YEAR ENDED DECEMBER 31, 2025

(Expressed in thousands of New Taiwan dollars)

Refer to Note 6(19), Expenses by nature, and Note 6(20), Employee benefit expense, of parent company only financial statements for details.

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XAVI TECHNOLOGIES CORPORATION AND SUBSIDIARIES

Loans to others

Year ended December 31, 2025

Table 1

Expressed in thousands of NTD (Except as otherwise indicated)

No.	Creditor	Borrower	General ledger account	Is a related party	Maximum outstanding balance for the period (Note1)	Ending balance (Note2)	Actual amount drawndown	Interest rate range	Nature of loan (Note3)	Amount of transactions with the borrower (Note4)	Reason for short-term financing	Allowance for doubtful accounts	Collateral	Collateral	Limit on loans granted to a single party (Note5)(Note6)	Ceiling on total loans granted (Note5)(Note6)	Note
													Name	Value
0 1 2	The Company Directmax Systemax	XAVi Thailand The Company The Company	Other receivables Other receivables Other receivables	Yes Yes Yes	328,350 $ 99,600 232,400	251,360 $ 75,408 219,940	188,520 $ 69,124 219,940	2% 0% 0%	1 2 2	2,712,322 $ - -	- Working capital Working capital	- - -	None None None	- - -	645,531 $ 14,954 USD 8,008 USD	1,291,063 $ 14,954 USD 8,008 USD	- - -

• Note 1: The accumulated maximum outstanding balance of loans to others as of the reporting month of the current period.

• Note 2: The amounts of funds to be loaned to others which have been approved by the Board of Directors of a public company in accordance with Article 14, Item 1 of the “Regulations Governing Loaning of Funds and Making of Endorsements/Guarantees by Public Companies” should be included in its published balance of loans to others at the end of the reporting period to reveal the risk of loaning the public company bears, even though they have not yet been appropriated. However, this balance should exclude the loans repaid when repayments are done subsequently to reflect the risk adjustment. In addition, if the board of directors of a public company has authorized the chairman to loan funds in installments or in revolving within certain lines and within one year in accordance with Article 14, Item 2 of the “Regulations Governing Loaning of Funds and Making of Endorsements/Guarantees by Public Companies”, the published balance of loans to others at the end of the reporting period should also include these lines of loaning approved by the board of directors, and these lines of loaning should not be excluded from this balance even though the loans are repaid subsequently, for taking into consideration they could be loaned again thereafter.

• Note 3: The numbers filled in the column of ‘Nature of loan’ are as follows:

• Business transaction.

2. Short-term financing.

• Note 4: Fill in the amount of business transactions when nature of the loan is related to business transactions, which is the amount of business transactions occurred between the creditor and borrower in the current year.

• Note 5: In accordance with the financing procedures of the Company, the ceiling on total loans granted is the Company’s net asset value based on the latest audited or reviewed financial statements, and

• The total financing amount to any individual party should not exceed 50% of the Company’s net asset value and the amount of sales/purchases during the year for the purpose of business transactions.

• The total financing amount to any individual party should not exceed 40% of the subsidiary’s net asset value for the purpose of short-term financing.

• For loans granted between foreign companies whose voting rights are 100% directly or indirectly held by the Company or loans granted to the Company by foreign companies whose voting rights are 100% directly or indirectly held by the Company, the loan amount is not subject to 40% of the creditor’s net asset value based on the latest audited or reviewed financial statements. However, total loan amount should not exceed the creditor’s net asset value based on the latest audited or reviewed financial statements. The laon period should not exceed three years. The restrictions on loans to any single party are as follows:

• (1) The limit on loans granted to a single party for the purpose of business transactions is the creditor’s net asset value based on the latest audited or reviewed financial statements,

• or the higher of sales or purchase amount with the creditor during the most recent year.

• (2) The limit on loans granted to a single party for the purpose of short-term financing is the creditor’s net asset value based on the latest audited or reviewed financial statements.

• Except for point 3, the loan period should not exceed one year.

• Note 6: In accordance with the financing procedures of the subsidiary, the ceiling on total loans granted by the subsidiary is the subsidiary’s net asset value based on the latest audited or reviewed financial statements, and

• The ceiling on total loans granted or limit on loans granted to a single party for the purpose of short-term financing is 40% of the subsidiary’s net asset value.

• The limit on loans granted to a single party for the purpose of business transactions is 50% of the subsidiary’s net asset value and the higher of sales or purchase amount with the subsidiary during the most recent year.

XAVI TECHNOLOGIES CORPORATION AND SUBSIDIARIES

Provision of endorsements and guarantees to others

Year ended December 31, 2025

Table 2

Expressed in thousands of NTD (Except as otherwise indicated)

No. （Note1）	Endorser/ guarantor	Party being endorsed/guaranteed	Party being endorsed/guaranteed	Limit on endorsements/ guarantees provided for a single party （Note 3）	Maximum outstanding endorsement/ guarantee amount for the year ended December31,2025	Outstanding endorsement/ guarantee amount at December31,2025	Actual amount drawndown	Amount of endorsements/ guarantees secured with collateral	Ratio of accumulated endorsement/ guarantee amount to net asset value of the endorser/ guarantor company	Ceiling on total amount of guarantees provided （Note 3）	Provision of endorsements/ guarantees by parent company to subsidiary	Provision of endorsements/ guarantees by subsidiary to parent company	Provision of endorsements/ guarantees to the party in Mainland China Footnote
		Company name	Relationship with the endorser/ guarantor （Note2）
0	The Company	XAVi Suzhou	2	322,766 $	66,400 $	62,840 $	- $	- $	4.87%	645,531 $	Y	N	Y -

Note 1: The numbers filled in for the endorsements/guarantees provided by the Company or subsidiaries are as follows:

• (1) The Company is ‘0’.

• (2) The subsidiaries are numbered in order starting from ‘1’.

Note 2: Relationship between the endorser/guarantor and the party being endorsed/guaranteed is as follows:

• (1) Having business relationship.

• (2) The endorser/guarantor parent company owns directly and indirectly more than 50% voting shares of the endorsed/guaranteed subsidiary.

• (3) The endorsed/guaranteed company owns directly and indirectly more than 50% voting shares of the endorser/guarantor parent company.

• (4) The endorser/guarantor parent company owns directly and indirectly more than 90% voting shares of the endorsed/guaranteed company.

• (5) Mutual guarantee of the trade made by the endorsed/guaranteed company or joint contractor as required under the construction contract.

• (6) Due to joint venture, all shareholders provide endorsements/guarantees to the endorsed/guaranteed company in proportion to its ownership.

• (7) Joint guarantee of the performance guarantee for pre-sold home sales contract as required under the Consumer Protection Act.

• Note 3: Limit on endorsements/guarantees provided for a single party and ceiling on total amount of endorsements/guarantees provided as prescribed in the “Procedures for Provision of Endorsements and Guarantees” are as follows:

• (1) The Company’s limit on total amount of endorsements/ guarantees shall not exceed 50% of net assets in latest audited or reviewed financial statements of the Company, and limit on endorsements/guarantees provided for a single party shall not exceed 50% of the total amount of endorsements/ guarantees.

• (2) The subsidiary’s limit on total amount of endorsements/ guarantees shall not exceed the net assets in latest audited or reviewed financial statements of the subsidiary, and limit on endorsements/guarantees provided for a single party shall not exceed 50% of the total amount of endorsements/ guarantees.

• (3) Limit on the total endorsements/guarantees of the Company and its subsidiaries as a whole shall not exceed 50% of net assets in latest audited or reviewed financial statements of the Company, and limit on endorsements/guarantees provided for a single party shall not exceed 50% of the total amount of endorsements/ guarantees.

• (4) In addition to the limitations mentioned in the first three items, for the companies having business relationship with the endorser/guarantor, endorsements/guarantees to any single party should not exceed the higher amount of sales/purchase during the year for the purpose of business.

• (5) Limit on the total endorsements/guarantees between companies that the Company directly or indirectly held 90% of voting shares shall not exceed 10% of net assets in latest audited or reviewed financial statements of the Company. However, the endorsements/guarantees between companies that the Company directly or indirectly held 100% of voting shares were not subjected.

• (6) In addition to the limitations mentioned in the first five items, endorsements/ guarantees provided by the Company or its subsidiaries to the company whose net asset was lower than one half of its paid-in capital, the total amount of endorsements/guarantees shall not exceed the net assets in latest audited or reviewed financial statements of the Company and its subsidiaries.

XAVI TECHNOLOGIES CORPORATION AND SUBSIDIARIES

Holding of significant marketable securities at the end of the period (not including subsidiaries, associates and joint ventures) December 31, 2025

Table 3

Expressed in thousands of NTD (Except as otherwise indicated)

Securities held by	Marketable securities	Relationship with the securities issuer	General ledger account		EndingBalance	EndingBalance		Footnote
				Number of shares/units	Book value	Ownership (%)	Fair value
The Company	Common stock Laster Tech Corporation Ltd.	None	Financial assets at fair value through profit or loss - current	855,929	16,391 $	0.71	16,391 $	-

XAVI TECHNOLOGIES CORPORATION AND SUBSIDIARIES

Purchases or sales of goods from or to related parties reaching NT$100 million or 20% of paid-in capital or more Year ended December 31, 2025

Table 4

Expressed in thousands of NTD (Except as otherwise indicated)

Purchaser/seller	Counterparty	Relationship with the counterparty		Transaction	Transaction		Differences in transaction terms compared to thirdparty	Differences in transaction terms compared to thirdparty	Notes/accounts receivable (payable)	Notes/accounts receivable (payable)	Footnote
			Purchases (sales)	Amount	Percentage of total purchases (sales)	Credit term	Unit Price	Credit term	Balance	Percentage of total notes/accounts receivable (payable)
The Company The Company XAVi Suzhou XAVi Thailand	XAVi Suzhou XAVi Thailand The Company The Company	Subsidiary of the Company Subsidiary of the Company Subsidiary of the Company Subsidiary of the Company	Purchases Purchases Sales Sales	508,163 $ 2,712,322 508,163) ( 2,712,322) (	16 84 92 99	45~180 days after monthly billings 45~180 days after monthly billings 45~180 days after monthly billings 45~180 days after monthly billings	Note 1 Note 1 Note 2 Note 2	45~180 days after monthly billings 45~180 days after monthly billings 45~180 days after monthly billings 45~180 days after monthly billings	110,810) ($ - 110,810 -	100 - 88 -	- - - -

Note 1: The terms of the purchases from related parties were the same as those from third parties. Note 2: The terms of the sales to related parties were the same as those to third parties.

XAVI TECHNOLOGIES CORPORATION AND SUBSIDIARIES Receivables from related parties reaching NT$100 million or 20% of paid-in capital or more

December 31, 2025

Table 5 Creditor	Counterparty	Relationship with the counterparty	Endingbalance	Turnover rate	Overdue receivables	Overdue receivables	Amount collected subsequent to the Allowance for balance sheet date doubtful accounts Expressed in thousands of NTD (Except as otherwise indicated)	Amount collected subsequent to the Allowance for balance sheet date doubtful accounts Expressed in thousands of NTD (Except as otherwise indicated)
					Amount	Action taken
Accounts receivable	The Company Directmax The Company XAVi Thailand	Subsidiary of the Company Subsidiary of the Company Subsidiary of the Company Subsidiary of the Company	110,810 $ 121,957 $ 219,940 $ 188,520	4.26 - - -	- $ - $ - $ -	- - - -	- $ - $ - $ -	- $ - $ - $ -
XAVi Suzhou Other receivables
XAVi Overseas Financing funds receivable
Systemax The Company

XAVI TECHNOLOGIES CORPORATION AND SUBSIDIARIES

Significant inter-company transactions during the reporting period Year ended December 31, 2025

Table 6

Expressed in thousands of NTD (Except as otherwise indicated)

Transaction

Number (Note 1)	Companyname	Counterparty	Relationship (Note 2)	General ledger account	Amount	Transaction terms	Percentage of consolidated total operating revenues or total assets(Note 3)
1 2 1	XAVi Suzhou XAVi Thailand XAVi Suzhou	The Company The Company The Company	2 2 2	Sales revenue Sales revenue Accounts receivable	508,163 $ 2,712,322 110,810	Note 4 Note 4 Note 4	13.90 74.21 3.48

Other transactions between the parent company and subsidiaries not exceeding 1% of the consolidated total revenue or total assets are not disclosed. Those transactions are shown in other assets and revenue.

Note 1: The numbers filled in for the transaction company in respect of inter-company transactions are as follows:

1. Parent company is ‘0’.

2. The subsidiaries are numbered in order starting from ‘1’.

Note 2: Relationship between transaction company and counterparty is classified into the following three categories:

1. Parent company to subsidiary.

2. Subsidiary to parent company.

3. Subsidiary to subsidiary.

Note 3: Regarding percentage of transaction amount to consolidated total operating revenues or total assets, it is computed based on period-end balance of transaction to consolidated total assets for balance sheet accounts and based on accumulated transaction amount for the period to consolidated total operating revenues for income statement accounts. Note 4: The terms of the sales to related parties were the same as those to third parties.

Information on investees (not including investees in Mainland China) Year ended December 31, 2025

XAVI TECHNOLOGIES CORPORATION AND SUBSIDIARIES

Table 7

Expressed in thousands of NTD (Except as otherwise indicated)

Investor	Investee	Location	Main business activities	Initial investment amount	Initial investment amount	Shares held	as at December 31,2025	as at December 31,2025	Net profit (loss) of the investee for the year ended December 31,2025	Investment income (loss) recognised by the Company for the year ended December 31,2025	Footnote
				Balance as at December 31, 2025	Balance as at December 31, 2024	Number of shares	Ownership (%)	Book value
The Company The Company Directmax International Ltd. Directmax International Ltd.	Directmax International Ltd. XAVi Technologies (Thailand) Co.,Ltd XAVi Overseas Ltd. Systemax Development Ltd.	BVI Thailand BVI BVI	Overseas investment Manufacturing, puchases, and sales of network communication products Overseas investment Purchases and sales of network communication products	303,361 $ 75,377 324,942 7,849	332,791 $ 75,377 324,942 7,849	6,750,000 7,999,997 7,500,000 250,000	100 100 100 100	469,848 $ 256,739 122,014 251,599	20,233 $ 17,893 - 7,207	20,233 $ 17,893 - -	- - - -

XAVI TECHNOLOGIES CORPORATION AND SUBSIDIARIES

Information on investments in Mainland China

Year ended December 31, 2025

Table 8

Expressed in thousands of NTD (Except as otherwise indicated)

Investee in Mainland China	Mainbusinessactivities	Paid-incapital	Investment method	Accumulated amount of remittance from Taiwan to Mainland China as of January 1, 2025	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31,2025	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31,2025	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2025	Net income of investee for the year ended December 31, 2025	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the year ended December 31, 2025(Note2)	Book value of investments in Mainland China as of December 31,2025	Accumulated amount of investment income remitted back to Taiwan as of December 31,2025	Footnote
					Remitted to Mainland China	Remitted back toTaiwan
XAVi Technologies (Suzhou) Co., Ltd.	Manufacturing, purchases and sales of network communication products	295,512 $	Note 1	324,942 $	- $	29,430) ($	295,512 $	16,045 $	100	16,045 $	165,376 $	- $	-

Companyname	Accumulated amount of remittance from Taiwan to Mainland China as of December 31,2025	Investment amount approved by the Investment Commission of the Ministry of Economic Affairs (MOEA)	Ceiling on investments in Mainland China imposed by the Investment Commission of MOEA
XAVi Technologies Corporation	$ 295,512 (USD 9,000 thousand)	$ 295,512 (USD 9,000 thousand)	$ 774,638

Note 1: Investing in the investee in Mainland China through a wholly-owned subsidiary, Directmax International Ltd. Note 2: Investment income (loss) was recognised based on the financial statements audited or reviewed by the parent company’s CPA. Note 3: The numbers in this table are expressed in New Taiwan Dollars.