Y.C.C. - Annual Report 2023 | FinancialReports.eu

Y.C.C. Parts MFG Co., Ltd. 2024 The First Shareholders’ Meeting Each Report Item and Explanation

Proposals

Motion 1 (Proposed by the Board of Directors) Motion: To Approve 2023 Business Report and Financial Statements Explanation: I. The Company's 2023 business report and financial statements have been reviewed by the CPAs and are submitted to the Auditing Committee for review.

II. For the 2023 business report, CPAs’ Report, and financial statements, please refer to pages 3-32 (Attachments I-III).
III. Please approve.

Resolutions:

Motion 2 (Proposed by the Board of Directors) Motion: To Approve 2023 Earnings Distribution.

Explanation: The Company's 2023 net income after tax, plus items other than this period’s net income included in the year’s undistributed earnings, was NT$438,838,824. The Company provided 10% of the above balance as a legal reserve of NT$43,883,882 and reversed a special reserve of NT$15,098,548 in accordance with the law, plus the undistributed earnings at the beginning of the period of NT$1,173,351,403. Thus, the 2023 earnings available for distribution totaled NT$1,583,404,893, and the remaining distributions are as follows:

I. Cash dividends to shareholders are NT$222,371,625 at NT$3 per share. The Board of Directors authorizes the Chair to determine the ex-dividends date and other related matters.
II. The cash dividends are rounded off to the nearest NTD. The Chair is authorized to adjust the fractional-cent amount to certain shareholders.
III. The Chair is authorized to adjust the dividends if the number of common stocks is affected by the Company’s repurchase, transfer, or retirement of treasury stock or domestic seasoned equity offering.
IV. For the 2023 Statement of Retained Earnings, please refer to page 33 (Attachment IV)
V. Please approve.

Resolutions:

Discussion

Motion 1 (Proposed by the Board of Directors) Motion: Partial amendments to the “Articles of Incorporation”. Explanations: I. The Company’s “Articles of Incorporation” are proposed to be amended in response to new business activities due to business needs.

II. For the Before and After Revision Comparison Tables, please refer to page 34 (Attachment V).
III. Please discuss.

Resolutions:

Motion 2 (Proposed by the Board of Directors) Motion: To Release Non-Compete Restrictions on the Company’s Directors and their Representatives

Explanations: I. As stipulated in Article 209 of the Company Act, “a director who does anything for themselves or on behalf of another person that is within the scope of the company’s business, shall explain to the shareholders’ meeting the essential contents of such an act and secure its approval”.
II. Due to business needs, it is proposed to release the non-compete restriction on the Company’s Directors and representatives acting as a natural person when serving concurrently in other companies within the same business scope listed in the Company’s “Articles of Incorporation”. In accordance with Article 209 of the Company Act. This matter is proposed to be resolved at the (2024) Shareholders’ Meeting.
III. This proposal is reported to the Shareholders’ Meeting for discussion after being approved by the Board.
IV. Please discuss.

Director Status of Release Non-Compete Restrictions Jo-Ning Huang Director of Weiersi Biotech Ltd.

Resolutions:

Extempore Motion

Adjournment

Attachment

Attachment I

2023 Business Report

Dear Shareholders:

First of all, I would like to thank you for attending the 2023 Shareholders’ Meeting, and also for your continued support. On behalf of the Company, we would like to express our sincerest gratitude to our shareholders.

In 2023, as customer purchases gradually returned to normal levels due to the stabilization of ocean freight, the AM sales increased significantly and benefited from the expansion of AM parts for compensation by State Farm, the largest property and casualty insurance provider in North America. Thus, the overall revenue in 2023 increased by NT$205.6 million compared with 2022. Looking ahead to 2024, in the winter of North America, the demand for collision parts will increase, and the peak season of AM shipments in the prior quarter will continue in the first quarter of 2024. In addition, the U.S. car insurance company, State Farm, has expanded the use of AM parts, leading to a positive change in the AM market with Long-term benefits. In addition, due to the strikes in the U.S. auto market, consumers may turn to the used car market, creating more opportunities in the car parts and components market. All of the above will be momentum for the AM business’s performance growth in 2024.

2023 Business Results

(I) 2023 Results of the business plan

The Company’s 2023 net revenue was NT$2,051,209 thousand. Net income before tax was NT$544,209 thousand. Net profit after tax was NT$435,661 thousand, and EPS after tax was NT$5.88.

(II) 2023 Revenues, expenses, and profitability analysis

Items	Year	Year	2023	2022
Financial structure (%)	Ratio of liabilities to assets		25.41	31.10
	Ratio of long-term capital to fixed assets		159.00	148.79
Profitability (%)	Return on assets		8.20	7.97
	Return on equity		11.09	10.89
	Ratio of income before tax to paid-in capital	Operating profit	54.22	24.28
		Net income before tax	73.42	71.13
	Net profit rate		21.24	19.84
	Earnings per share (NT$)		5.88	5.51

(III) Research and development

Actively research and develop various equipment related to process automation to gradually reduce the labor demand and increase the stability of the product quality at the production lines.

The Company is a professional manufacturer of automotive plastic parts and manufactures products of stable quality. Quality control, physical, and chemical properties such as impact resistance and tensile strength of our products are the key to our high-quality products. Our products must be easily assembled, able to withstand various weather conditions, and pass internationally recognized tests. Therefore, the quality and performance of our products are similar to those of the original manufacturers.

We continue to improve our automated processes to reduce labor costs and mitigate the impacts of low birth rates. Through equipment optimization and the introduction of new processes, we expect to be able to increase capacity and improve production yields. According to our short- and medium-term plans, we will be purchasing new equipment and upgrading existing equipment in our plants to equip with automation, IOT, big data collection, and AI, so as to equip our production line with intelligent technology and functions, moving forwards Industry 4.0 in the next 3 years.

Chair: Hao-Chen Lin, President of Hehan Investment Co., Ltd.

President: Jui-Tse Lin

Chief Accounting Officer: Shu-Mei Liu

Attachment II

Audit Committees’ Review Report

We have reviewed the Company’s 2023 financial statements, business report, and earnings distribution proposal. The Board retained PricewaterhouseCoopers to audit the 2023 financial statements and issue a review report on their unqualified opinion.

We are responsible for supervision of the procedures of financial reporting.

The communication with CPAs regarding the 2023 financial statements is as follows:

CPAs’ responsibilities for the audit of the financial statements
Scope and period of the audit
Major accounting estimates and accounting principles
Material findings in the audit
Statement of independence
Key audit matters
Eligibility Assessment

We found no misstatements in the 2023 financial statements, business report, and earnings distribution proposal, and have issued the report as presented above in accordance with Article 219 of the Company Act.

Yours sincerely,

For

2024 General Shareholders’ Meeting of YCC Manufacturing Co., Ltd. Convener of the Auditing Committee: Chin-Feng Kuo

Lung-Fa Hsieh

Hung-Lung Huang Kuo-Hua Chang

March 7, 2024

Attachment III

INDEPENDENT AUDITORS’ REPORT TRANSLATED FROM CHINESE

To the Board of Directors and Shareholders of Y.C.C. Parts Mfg. Co., Ltd. Opinion

We have audited the accompanying consolidated balance sheets of Y.C.C. Parts Mfg. Co., Ltd. and subsidiaries (the “Group”) as at December 31, 2023 and 2022, and the related consolidated statements of comprehensive income, of changes in equity and of cash flows for the years then ended, and notes to the consolidated financial statements, including a summary of material accounting policies.

In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at December 31, 2023 and 2022, and its consolidated financial performance and its consolidated cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations that came into effect as endorsed by the Financial Supervisory Commission.

Basis for opinion

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

Key audit matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Group’s 2023 consolidated financial statements. These matters were addressed in the context of our audit of the consolidated financial statements as a whole and, in forming our opinion thereon, we do not provide a separate opinion on these matters.

Key audit matters for the Group’s 2023 consolidated financial statements are stated as follows:

Cut-off of sales revenue recognition

Description

For the accounting policy of revenue recognition, please refer to Note 4(29); and for details of operating revenue, please refer to Note 6(19). The Group is primarily engaged in manufacturing and trading automobile parts. Sale revenue is recognised when the control over the goods was transferred under the transaction terms.

The sales revenue recognition involves the use of several manual judgements and procedures. As a result, the timing of sales revenue recognition may be inappropriate. Therefore, we included the cut-off of sales revenue recognition as one of the key areas of focus for this year.

How our audit addressed the matter

Our audit procedures in relation to the above key audit matter included:

Understanding and evaluating the operating procedures and internal controls over sales revenue, and assessing the effectiveness on how the management controls the timing of recognizing sales revenue.

~7~

Examined the transaction documents to ensure that transactions had been recorded in the proper period for a certain period around the balance sheet date.

Assessment of allowance for inventory valuation loss

Description

For the accounting policy of inventory assessment, please refer to Note 4(14); for accounting estimates and assumption uncertainty in relation to inventory valuation, please refer to Note 5; and for details of allowance for inventory valuation losses, please refer to Note 6(5). The Group is primarily engaged in manufacturing and trading automobile parts. Sale revenue is recognised when the control over the goods was transferred under the transaction terms.

As of December 31, 2023, the balances of inventories and allowance for inventory valuation losses were NT$ 411,843 thousand and NT$ 54,522 thousand, respectively.

The Group is primarily engaged in manufacturing and trading automobile parts. Inventories that are over a certain age and separately recognised as impaired inventories are stated at the lower of cost and net realisable value. Those inventory items separately identified as obsolete and damaged are corroborated against supporting documents in recognising valuation losses. Considering that the Group’s inventories were material to its financial statements, and the determination of net realisable value as at balance sheet date involved judgements and estimates, we identified the assessment of allowance for inventory valuation losses a key audit matter.

How our audit addressed the matter

Our audit procedures in relation to the above key audit matter included:

Obtained an understanding of the nature of the Group’s business and industry and assessed the reasonableness of provision policies in the determination of allowance

~8~

for inventory valuation losses.

Reviewed the Group’s annual counting plan and conducted their physical counts on inventories to evaluate the control effectiveness on inventory classification.
Obtained the Group’s inventory aging report and verified dates of movements with supporting documents. Ensured the proper categorisation of inventory aging report in accordance with the Group’s policy.
Obtained the net realisable value statement of each inventory, assessed whether the estimation policy was consistently applied, tested the estimation basis of the net realisable value with relevant information, including verifying the sales and purchase prices with supporting evidence, and recalculated and evaluated the reasonableness of the inventory valuation.

Other matter – Parent company only financial reports

We have audited and expressed an unqualified opinion on the parent company only financial statements of Y.C.C. Parts Mfg. Co., Ltd. as at and for the years ended December 31, 2023 and 2022.

Responsibilities of management and those charged with governance for the consolidated financial statements

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

~9~

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

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

Auditors’ responsibilities for the audit of the consolidated financial statements

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

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

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

~10~

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Group to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

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

~11~

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.

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

Wang, Yu-Chuan[Liu, Mei Lan ]

For and on behalf of PricewaterhouseCoopers, Taiwan March 7, 2024

------------------------------------------------------------------------------------------------------------------------------The accompanying consolidated 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 consolidated 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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Y.C.C. PARTS MFG. CO. LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2023 AND 2022

(Expressed in thousands of New Taiwan dollars)

Assets	December31,2023 AMOUNT % `$` `550,670` `10` `135,445` `2` `125,890` `2` `37,971` `1` `499,189` `9` `10,072` `-` `357,322` `7` `33,194` `1` `1,749,753` `32` `128,299` `2` `300` `-` `2,873,418` `53` `150,100` `3` `94,441` `2` `3,758` `-` `109,196` `2` `309,435` `6` `3,668,947` `68` `$` `5,418,700` `100`	December31,2022	December31,2022
	AMOUNT `$` `550,670` `135,445` `125,890` `37,971` `499,189` `10,072` `357,322` `33,194` `1,749,753` `128,299` `300` `2,873,418` `150,100` `94,441` `3,758` `109,196` `309,435` `3,668,947` `$` `5,418,700`	AMOUNT `$` `1,036,374` `129,623` `-` `27,081` `534,281` `10,366` `300,192` `43,097` `2,081,014` `75,247` `300` `2,974,815` `140,906` `14,713` `5,016` `107,967` `137,492` `3,456,456` `$` `5,537,470`	%
Current assets 1100 Cash and cash equivalents 1110 Financial assets at fair value through profit or loss - current 1136 Financial assets at amortised cost 1150 Notes receivable, net 1170 Accounts receivable, net 1200 Other receivables 130X Inventories 1470 Other current assets 11XX Total current Assets Non-current assets 1517 Non-current financial assets at fair value through other comprehensive income 1535 Non-current financial assets at amortised cost 1600 Property, plant and equipment 1755 Right-of-use assets 1760 Investment property, net 1780 Intangible assets 1840 Deferred income tax assets 1900 Other non-current assets 15XX Total non-current assets 1XXX Total assets			`19` `2` `-` `1` `10` `-` `5` `1`
			`38`
			`1` `-` `54` `3` `-` `-` `2` `2`
			`62`
			`100`

(Continued)

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Y.C.C. PARTS MFG. CO. LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2023 AND 2022

(Expressed in thousands of New Taiwan dollars)

Liabilities and Equity December31,2023
December31,2022
Notes
AMOUNT
%
AMOUNT
%
$
35,786
1 $
261,721
5
2,952
-
-
-
22,267
-
14,852
-
178,448
3
179,968
3
101,114
2
141,453
2
182,257
3
197,101
4
188,160
4
143,864
3
133,167
2
169,662
3
5,696
-
2,655
-
849,847
15
1,111,276
20
446,846
8
566,370
10
56,283
1
28,511
1
-
-
513
-
23,763
1
15,251
-
526,892
10
610,645
11
1,376,739
25
1,721,921
31
741,239
14
741,239
13
1,193,349
22
1,193,349
22
383,999
7
343,211
6
109,142
2
120,040
2
1,612,189
30
1,425,612
26
(
94,043 ) (
2 ) (
109,142) (
2)
3,945,875
73
3,714,309
67
96,086
2
101,240
2
4,041,961
75
3,815,549
69
9
$
5,418,700
100 $
5,537,470
100

Current liabilities
2100
Short-term borrowings
2120
Financial liabilities at fair value
through profit or loss - current
2130
Current contract liabilities
2150
Notes payable
2170
Accounts payable
2200
Other payables
2230
Current income tax liabilities
2320
Long-term liabilities, current portion
2399
Other current liabilities, others
21XX
Total current Liabilities
Non-current liabilities
2540
Long-term borrowings
2560
Current tax liabilities-non-current
2570
Deferred income tax liabilities
2600
Other non-current liabilities
25XX
Total non-current liabilities
2XXX
Total Liabilities
Equity attributable to owners of
parent
Share capital
3110
Share capital - common stock
Capital surplus
3200
Capital surplus
Retained earnings
3310
Legal reserve
3320
Special reserve
3350
Unappropriated retained earnings
Other equity interest
3400
Other equity interest
31XX
Equity attributable to owners of
the parent
36XX
Non-controlling interests
3XXX
Total equity
Significant events after the balance
sheet date
3X2X
Total liabilities and equity

Liabilities and Equity	December31,2023 December31,2022 Notes AMOUNT % AMOUNT % `$` `35,786` `1 $` `261,721` `5` `2,952` `-` `-` `-` `22,267` `-` `14,852` `-` `178,448` `3` `179,968` `3` `101,114` `2` `141,453` `2` `182,257` `3` `197,101` `4` `188,160` `4` `143,864` `3` `133,167` `2` `169,662` `3` `5,696` `-` `2,655` `-` `849,847` `15` `1,111,276` `20` `446,846` `8` `566,370` `10` `56,283` `1` `28,511` `1` `-` `-` `513` `-` `23,763` `1` `15,251` `-` `526,892` `10` `610,645` `11` `1,376,739` `25` `1,721,921` `31` `741,239` `14` `741,239` `13` `1,193,349` `22` `1,193,349` `22` `383,999` `7` `343,211` `6` `109,142` `2` `120,040` `2` `1,612,189` `30` `1,425,612` `26` `(` `94,043 ) (` `2 ) (` `109,142) (` `2)` `3,945,875` `73` `3,714,309` `67` `96,086` `2` `101,240` `2` `4,041,961` `75` `3,815,549` `69` 9 `$` `5,418,700` `100 $` `5,537,470` `100`
Current liabilities 2100 Short-term borrowings 2120 Financial liabilities at fair value through profit or loss - current 2130 Current contract liabilities 2150 Notes payable 2170 Accounts payable 2200 Other payables 2230 Current income tax liabilities 2320 Long-term liabilities, current portion 2399 Other current liabilities, others 21XX Total current Liabilities Non-current liabilities 2540 Long-term borrowings 2560 Current tax liabilities-non-current 2570 Deferred income tax liabilities 2600 Other non-current liabilities 25XX Total non-current liabilities 2XXX Total Liabilities Equity attributable to owners of parent Share capital 3110 Share capital - common stock Capital surplus 3200 Capital surplus Retained earnings 3310 Legal reserve 3320 Special reserve 3350 Unappropriated retained earnings Other equity interest 3400 Other equity interest 31XX Equity attributable to owners of the parent 36XX Non-controlling interests 3XXX Total equity Significant events after the balance sheet date 3X2X Total liabilities and equity

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Y.C.C. PARTS MFG. CO. LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2023 AND 2022

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

Items YearendedDecember31
2023
2022
Notes
AMOUNT
%
AMOUNT
%
$
2,051,209
100
$
2,020,758
100
(
1,361,742) (
67) (
1,490,296)(
74)
689,467
33
530,462
26
(
146,205 ) (
7) (
126,108) (
6)
(
113,344 ) (
6) (
136,240) (
7)
(
69,766 ) (
3) (
70,601) (
3)
41,711
2 (
17,511)(
1)
(
287,604) (
14) (
350,460)(
17)
401,863
19
180,002
9
34,593
2
18,751
1
52,075
2
33,458
1
72,947
4
321,339
16
(
17,269) (
1) (
26,327)(
1)
142,346
7
347,221
17
544,209
26
527,223
26
(
111,745) (
5) (
126,230)(
6)
$
432,464
21
$
400,993
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
Impairment loss (impairment
gain and reversal of impairment
loss) determined in accordance
with IFRS 9
6000
Total operating expenses
6900
Operating profit
Non-operating income and
expenses
7100
Interest income
7010
Other income
7020
Other gains and losses
7050
Finance costs
7000
Total non-operating income
and expenses
7900
Profit before income tax
7950
Income tax expense
8200
Profit for the year

Items	YearendedDecember31 2023 2022 Notes AMOUNT % AMOUNT % `$` `2,051,209` `100` `$` `2,020,758` `100` `(` `1,361,742) (` `67) (` `1,490,296)(` `74)` `689,467` `33` `530,462` `26` `(` `146,205 ) (` `7) (` `126,108) (` `6)` `(` `113,344 ) (` `6) (` `136,240) (` `7)` `(` `69,766 ) (` `3) (` `70,601) (` `3)` `41,711` `2 (` `17,511)(` `1)` `(` `287,604) (` `14) (` `350,460)(` `17)` `401,863` `19` `180,002` `9` `34,593` `2` `18,751` `1` `52,075` `2` `33,458` `1` `72,947` `4` `321,339` `16` `(` `17,269) (` `1) (` `26,327)(` `1)` `142,346` `7` `347,221` `17` `544,209` `26` `527,223` `26` `(` `111,745) (` `5) (` `126,230)(` `6)` `$` `432,464` `21` `$` `400,993` `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 Impairment loss (impairment gain and reversal of impairment loss) determined in accordance with IFRS 9 6000 Total operating expenses 6900 Operating profit Non-operating income and expenses 7100 Interest income 7010 Other income 7020 Other gains and losses 7050 Finance costs 7000 Total non-operating income and expenses 7900 Profit before income tax 7950 Income tax expense 8200 Profit for the year

(Continued)

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Y.C.C. PARTS MFG. CO. LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

YEARS ENDED DECEMBER 31, 2023 AND 2022

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

Items	YearendedDecember31	YearendedDecember31	YearendedDecember31
	2023	2022 % AMOUNT `- ($` `381)` `2` `7,008` `-` `76` `2` `6,703` `1)` `5,843` `1)` `5,843` `1` `$` `12,546` `22` `$` `413,539` `21` `$` `408,560` `- (` `7,567)` `21` `$` `400,993` `22` `$` `419,153` `- (` `5,614)` `22` `$` `413,539` `5.88` `$` `5.86` `$`	2022
	AMOUNT `$` `3,972` `26,304` `794 )` `29,482` `13,162 ) (` `13,162 ) (` `$` `16,320` `$` `448,784` `$` `435,661` `3,197 )` `$` `432,464` `$` `453,938` `5,154 )` `$` `448,784` `$`			%
Other comprehensive income Components of other comprehensive income that will not be reclassified to profit or loss 8311 Other comprehensive income, before tax, actuarial gains (losses) on defined benefit plans 8316 Unrealized gains (losses) on investments in equity instruments measured at fair value through other comprehensive income 8349 Income tax related to components of other comprehensive income that will not be reclassified to profit or loss 8310 Components of other comprehensive income that will not be reclassified to profit or loss Components of other comprehensive income that will be reclassified to profit or loss 8361 Financial statements translation differences of foreign operations 8360 Components of other comprehensive income that will be reclassified to profit or loss 8300 Total other comprehensive income for the year 8500 Total comprehensive income for the year Profit (loss), attributable to: 8610 Owners of parent 8620 Non-controlling interests Total Comprehensive income (loss) attributable to: 8710 Owners of parent 8720 Non-controlling interests Total Basic earnings per share 9750 Basic earnings per share 9850 Diluted earnings per share				`-` `-`
				`-`
				`-`
				`-`
				`-`
				`-`
				`20`
				`20` `-`
				`20`
				`20` `-`
				`20`
				`5.51`
	`$`		`$`	`5.50`

~16~

Y.C.C. PARTS MFG. CO. LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2023 AND 2022

(Expressed in thousands of New Taiwan dollars)

					Equity attributable to owners ofthe parent	Equity attributable to owners ofthe parent	Equity attributable to owners ofthe parent	Equity attributable to owners ofthe parent				Non-controlling interests
	Share capital - commonstock	Capital surplus, additional paid- incapital			Retained earnings		Otherequityinterest		Treasury shares		Total
				Legal reserve	Special reserve	Unappropriated retained earnings	Financial statements translation differences of foreign operations	Unrealised gains (losses) from financial assets measured at fair value through other comprehensive income
`$ 741,389` `-` `-` `-` `-` `-` `-` `(` `150 )` `$ 741,239` `$ 741,239` `-` `-` `-` `-` `-` `-` `$ 741,239`			`$ 1,193,349` `-` `-` `-` `-` `-` `-` `-` `$ 1,193,349` `$ 1,193,349` `-` `-` `-` `-` `-` `-` `$ 1,193,349`	`$ 329,574` `-` `-` `-` `13,637` `-` `-` `-` `$ 343,211` `$ 343,211` `-` `-` `-` `40,788` `-` `-` `$ 383,999`	`$ 105,211` `-` `-` `-` `-` `14,829` `-` `-` `$ 120,040` `$ 120,040` `-` `-` `-` `-` `(` `10,898 )` `-` `$ 109,142`	`$ 1,194,447` `408,560` `(` `305 )` `408,255` `(` `13,637 )` `(` `14,829 )` `(` `148,248 )` `(` `376 )` `$ 1,425,612` `$ 1,425,612` `435,661` `3,178` `438,839` `(` `40,788 )` `10,898` `(` `222,372 )` `$ 1,612,189`	`($` `86,492 )` `-` `3,890` `3,890` `-` `-` `-` `-` `($` `82,602 )` `($` `82,602 )` `-` `(` `11,205 )` `(` `11,205 )` `-` `-` `-` `($` `93,807 )`	`($` `33,548 )` `-` `7,008` `7,008` `-` `-` `-` `-` `($` `26,540 )` `($` `26,540 )` `-` `26,304` `26,304` `-` `-` `-` `($` `236 )`	`($` `526 )` `-` `-` `-` `-` `-` `-` `526` `$` `-` `$` `-` `-` `-` `-` `-` `-` `-` `$` `-`	`$ 3,443,404` `408,560` `10,593` `419,153` `-` `-` `(` `148,248 )` `-` `$ 3,714,309` `$ 3,714,309` `435,661` `18,277` `453,938` `-` `-` `(` `222,372 )` `$ 3,945,875`		`$ 106,854` `(` `7,567 )` `1,953` `(` `5,614 )` `-` `-` `-` `-` `$ 101,240` `$ 101,240` `(` `3,197 )` `(` `1,957 )` `(` `5,154 )` `-` `-` `-` `$` `96,086`	`$ 3,550,258` `400,993` `12,546` `413,539` `-` `-` `(` `148,248` `)` `-` `$ 3,815,549` `$ 3,815,549` `432,464` `16,320` `448,784` `-` `-` `(` `222,372` `)` `$ 4,041,961`

~17~

Y.C.C. PARTS MFG. CO. LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2023 AND 2022

(Expressed in thousands of New Taiwan dollars)

CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax
Adjustments
Adjustments to reconcile profit (loss)
Depreciation expense (including investment
property)
Depreciation expense - right-of-use assets
Amortisation expense
Expected credit impairment loss
Net gain on financial assets or liabilities at fair
value through profit or loss
Interest expense
Interest income
Government grant revenues
Dividend income
Proceeds from disposal of property, plant and
equipment
Changes in operating assets and liabilities
Changes in operating assets
Notes receivable, net
Accounts receivable, net
Other receivables
Inventories
Other current assets
Changes in operating liabilities
Contract liabilities - current
Notes payable
Accounts payable
Other payables
Other current liabilities
Net defined benefit liability
Cash inflow generated from operations
Interest received
Interest paid
Dividend received
Income taxes paid
Net cash flows from operating activities Notes
YearendedDecember31
2023
2022
$
544,209 $
527,223
363,594
362,608
6,714
6,383
6,291
7,087
(
41,711 )
17,511
(
6,522 ) (
39,275 )
17,269
26,327
(
34,593 ) (
18,751 )
(
1,410 ) (
1,099 )
(
7,132 ) (
4,958 )
(
4,283 ) (
3,798 )
(
10,890 )
27,974
76,803 (
109,799 )
(
14,222 )
2,445
(
57,130 )
13,498
9,903
7,000
7,415 (
3,060 )
17,202 (
15,488 )
(
40,339 ) (
16,149 )
(
4,692 ) (
1,620 )
5,603 (
677 )
(
138 )
409
831,941
783,791
34,863
16,732
(
17,182 ) (
26,212 )
7,132
4,958
(
51,135 ) (
31,677 )
805,619
747,592

(Continued)

~18~

Y Y.C.C. PARTS MFG. CO. LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2023 AND 2022

(Expressed in thousands of New Taiwan dollars)

CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of financial assets at fair value through
profit or loss
Proceeds from disposal of financial assets at fair
value through profit or loss
(Increase) decrease in financial assets at amortised
cost
Acquisition of property, plant and equipment
Proceeds from disposal of property, plant and
equipment
Payment for capitalized interest
Acquisition of intangible assets
Decrease in other financial assets
Increase in refundable deposits
Acquisition of non-current financial assets at fair
value through other comprehensive income
Acquisition of real estate investment
Decrease in other non-current assets
Increase in prepayment of equipment and
construction
Net cash flows used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in short-term borrowings
Decrease in short-term borrowings
Decrease in short-term notes and bills payable
Proceeds from long-term borrowings
Repayments of long-term borrowings
Increase in refundable deposits
Repayments of principal portion of lease liabilities
Cash dividends paid
Net cash flows used in financing activities
Effect of exchange rate changes on cash and cash
equivalents
Net (decrease) increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year Notes
YearendedDecember31
2023
2022
($
12,263 ) ($
102,240 )
14,532
95,485
(
125,890 )
199,416
(
209,306 ) (
365,716 )
32,504
5,040
- (
1,193 )
(
1,533 ) (
937 )
-
2,002
(
3,651 ) (
1,797 )
(
26,748 ) (
19,932 )
(
80,887 )
-
1,279
39,339
(
269,191 ) (
137,939 )
(
681,154 ) (
288,472 )
35,883
289,015
(
256,369 ) (
298,582 )
- (
50,000 )
-
192,540
(
154,424 ) (
105,835 )
381
132
(
2,663 ) (
2,668 )
(
222,372 ) (
148,248 )
(
599,564 ) (
123,646 )
(
10,605 )
65,508
(
485,704 )
400,982
1,036,374
635,392
$
550,670 $
1,036,374

~19~

INDEPENDENT AUDITORS’ REPORT TRANSLATED FROM CHINESE

To the Board of Directors and Shareholders of Y.C.C. Parts Mfg. Co., Ltd. Opinion

We have audited the accompanying parent company only balance sheets of Y.C.C. Parts Mfg. Co., Ltd. (the “Company”) as at December 31, 2023 and 2022, 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 parent company only financial position of the Company as at December 31, 2023 and 2022, and its parent company only financial performance and its parent company only cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations that came into effect as endorsed by the Financial Supervisory Commission.

Basis for opinion

We conducted our audits in accordance with the Regulations Governing Financial Statement Audit and Attestation Engagements of Certified Public Accountants and Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the consolidated financial statements section of our report. We are independent of the 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.

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 2023 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 matters for the Company’s 2023 parent company only financial statements are stated as follows:

Cut-off of sales revenue recognition

Description

For the accounting policy of revenue recognition, please refer to Note 4(28); and for details of operating revenue, please refer to Note 6(19). The Company is primarily engaged in manufacturing and trading automobile parts. Sale revenue is recognised when the control over the goods was transferred under the transaction terms. The sales revenue recognition involves the use of several manual judgements and procedures. As a result, the timing of sales revenue recognition may be inappropriate, which also affected the Company’s subsidiary accounted for using equity method. Therefore, we included the cutoff of sales revenue recognition as one of the key areas of focus for this year.

How our audit addressed the matter

Our audit procedures in relation to the above key audit matter included:

Understanding and evaluating the operating procedures and internal controls over sales revenue, and assessing the effectiveness on how the management controls the timing of recognizing sales revenue.

Examined the transaction documents to ensure that transactions had been recorded in the proper period for a certain period around the balance sheet date.

Assessment of allowance for inventory valuation loss

Description

For the accounting policy of inventory assessment, please refer to Note 4(13); for accounting estimates and assumption uncertainty in relation to inventory valuation, please refer to Note 5; and for details of allowance for inventory valuation losses, please refer to Note 6(6). The Company is primarily engaged in manufacturing and trading automobile parts. Sale revenue is recognised when the control over the goods was transferred under the transaction terms.

As of December 31, 2023, the balances of inventories and allowance for inventory valuation losses were NT$ 278,340 thousand and NT$ 25,437 thousand, respectively.

The Company is primarily engaged in manufacturing and trading automobile parts. Inventories that are over a certain age and separately recognised as impaired inventories are stated at the lower of cost and net realisable value. Those inventory items separately identified as obsolete and damaged are corroborated against supporting documents in recognising valuation losses. Considered that the Company’s inventories were material to its financial statements, and the determination of net realisable value in the balance sheet date involved judgements and estimates, which also affected the Company’s subsidiary accounted for using equity method. We identified the assessment of allowance for inventory valuation losses a key audit matter.

How our audit addressed the matter

Our audit procedures in relation to the above key audit matter included:

Obtained an understanding of the nature of the Company’s business and industry and assessed the reasonableness of provision policies in the determination of allowance for inventory valuation losses.
Reviewed the Company’s annual counting plan and conducted their physical counts on inventories to evaluate the control effectiveness on inventory classification.
Obtained the Company’s inventory aging report and verified dates of movements with supporting documents. Ensured the proper categorisation of inventory aging report in accordance with the Company’s policy.
Obtained the net realisable value statement of each inventory, assessed whether the estimation policy was consistently applied, tested the estimation basis of the net realisable value with relevant information, including verifying the sales and purchase prices with supporting evidence, and recalculated and evaluated the reasonableness of the inventory valuation.

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.

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:

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.

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.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the 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.
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.
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 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.

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.

Wang, Yu-Chuan[Liu, Mei Lan ] For and on behalf of PricewaterhouseCoopers, Taiwan March 7, 2024

------------------------------------------------------------------------------------------------------------------------------The accompanying 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 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.

Y.C.C. PARTS MFG. CO., LTD. BALANCE SHEETS DECEMBER 31, 2023 AND 2022

(Expressed in thousands of New Taiwan dollars)

Assets	December31,2023 AMOUNT % `$` `252,454` `5` `124,815` `3` `125,890` `3` `16,821` `-` `293,989` `6` `18,108` `-` `9,503` `-` `633,360` `12` `252,903` `5` `19,933` `-` `1,747,776` `34` `128,299` `2` `300` `-` `506,021` `10` `2,240,616` `44` `22,586` `-` `80,887` `2` `95,981` `2` `317,107` `6` `3,391,797` `66` `$` `5,139,573` `100`	December31,2022	December31,2022
	AMOUNT `$` `252,454` `124,815` `125,890` `16,821` `293,989` `18,108` `9,503` `633,360` `252,903` `19,933` `1,747,776` `128,299` `300` `506,021` `2,240,616` `22,586` `80,887` `95,981` `317,107` `3,391,797` `$` `5,139,573`	AMOUNT `$` `905,487` `118,291` `-` `14,275` `227,195` `27,489` `3,712` `317,288` `158,269` `26,819` `1,798,825` `75,247` `300` `573,977` `2,281,091` `6,630` `-` `94,477` `136,813` `3,168,535` `$` `4,967,360`	%
Current assets Cash and cash equivalents Financial assets at fair value through profit or loss Financial assets at amortised cost Notes receivable, net Accounts receivable, net Accounts receivable due from related parties, net Other receivables Other receivables due from related parties Inventories Other current assets Total current assets Non-current assets Non-current financial assets at fair value through other comprehensive income Non-current financial assets at amortised cost Investments accounted for using equity method Property, plant and equipment Right-of-use assets Investment property, net Deferred tax assets Other non-current assets Total non-current assets Total assets			`18` `2` `-` `-` `5` `1` `-` `6` `3` `1`
			`36`
			`1` `-` `12` `46` `-` `-` `2` `3`
			`64`
			`100`

(Continued)

~27~

Y.C.C. PARTS MFG. CO., LTD. BALANCE SHEETS DECEMBER 31, 2023 AND 2022

(Expressed in thousands of New Taiwan dollars)

Liabilities and Equity December31,2023
December31,2022
Notes
AMOUNT
%
AMOUNT
%
$
2,952
- $
-
-
1,866
-
2,811
-
178,103
3
179,943
4
20,981
-
12,954
-
137,444
3
132,118
3
188,159
4
143,864
3
133,167
3
169,662
3
5,310
-
2,233
-
667,982
13
643,585
13
446,846
9
566,370
11
56,283
1
28,511
1
-
-
513
-
22,587
-
14,072
-
525,716
10
609,466
12
1,193,698
23
1,253,051
25
741,239
14
741,239
15
1,193,349
24
1,193,349
24
383,999
8
343,211
7
109,142
2
120,040
2
1,612,189
31
1,425,612
29
(
94,043 ) (
2 ) (
109,142) (
2)
-
-
-
-
3,945,875
77
3,714,309
75
$
5,139,573
100 $
4,967,360
100

Current liabilities
Financial liabilities at fair value through profit
or loss
Current contract liabilities
Notes payable
Accounts payable
Other payables
Current tax liabilities
Long-term liabilities, current portion
Other current liabilities, others
Total current liabilities
Non-current liabilities
Long-term borrowings
Income tax liabilities - non-current
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities
Equity
Share capital
Ordinary share
Capital surplus
Capital surplus
Retained earnings
Legal reserve
Special reserve
Unappropriated retained earnings
Other equity interest
Other equity interest
Treasury shares
Total equity
Significant contingent liabilities and
unrecognised contract commitments
Total liabilities and equity

Liabilities and Equity	December31,2023 December31,2022 Notes AMOUNT % AMOUNT % `$` `2,952` `- $` `-` `-` `1,866` `-` `2,811` `-` `178,103` `3` `179,943` `4` `20,981` `-` `12,954` `-` `137,444` `3` `132,118` `3` `188,159` `4` `143,864` `3` `133,167` `3` `169,662` `3` `5,310` `-` `2,233` `-` `667,982` `13` `643,585` `13` `446,846` `9` `566,370` `11` `56,283` `1` `28,511` `1` `-` `-` `513` `-` `22,587` `-` `14,072` `-` `525,716` `10` `609,466` `12` `1,193,698` `23` `1,253,051` `25` `741,239` `14` `741,239` `15` `1,193,349` `24` `1,193,349` `24` `383,999` `8` `343,211` `7` `109,142` `2` `120,040` `2` `1,612,189` `31` `1,425,612` `29` `(` `94,043 ) (` `2 ) (` `109,142) (` `2)` `-` `-` `-` `-` `3,945,875` `77` `3,714,309` `75` `$` `5,139,573` `100 $` `4,967,360` `100`
Current liabilities Financial liabilities at fair value through profit or loss Current contract liabilities Notes payable Accounts payable Other payables Current tax liabilities Long-term liabilities, current portion Other current liabilities, others Total current liabilities Non-current liabilities Long-term borrowings Income tax liabilities - non-current Deferred tax liabilities Other non-current liabilities Total non-current liabilities Total liabilities Equity Share capital Ordinary share Capital surplus Capital surplus Retained earnings Legal reserve Special reserve Unappropriated retained earnings Other equity interest Other equity interest Treasury shares Total equity Significant contingent liabilities and unrecognised contract commitments Total liabilities and equity

Y.C.C. PARTS MFG. CO., LTD. STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2023 AND 2022

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

Items YearendedDecember31
2023
2022
Notes
AMOUNT
%
AMOUNT
%
$
1,456,959
100
$
1,259,707
100
(
773,514 ) (
53) (
786,838) (
63)
683,445
47
472,869
37
(
113,412 ) (
8) (
91,298) (
7)
(
64,871 ) (
4) (
83,849) (
7)
(
59,655 ) (
4) (
53,029) (
4)
(
167 )
- (
3,895)
-
(
238,105 ) (
16) (
232,071) (
18)
445,340
31
240,798
19
49,049
3
21,893
2
51,591
4
41,769
3
68,815
5
331,936
26
(
10,644 ) (
1) (
9,941) (
1)
(
56,750 ) (
4) (
91,701) (
7)
102,061
7
293,956
23
547,401
38
534,754
42
(
111,740 ) (
8) (
126,194) (
10)
435,661
30
408,560
32
$
435,661
30
$
408,560
32
$
3,972
- ($
381)
-
26,304
2
7,008
1
(
794 )
-
76
-
29,482
2
6,703
1
(
11,205 ) (
1)
3,890
-
(
11,205 ) (
1)
3,890
-
$
18,277
1
$
10,593
1
$
453,938
31
$
419,153
33
$
5.88
$
5.51
$
5.86
$
5.50

Operating revenue
Operating costs
Gross profit from operations
Operating expenses
Selling expenses
Administrative expenses
Research and development expenses
Impairment loss (impairment gain and
reversal of impairment loss) determined in
accordance with IFRS 9
Total operating expenses
Net operating income
Non-operating income and expenses
Interest income
Other income
Other gains and losses
Finance costs
Share of loss of associates and joint ventures
accounted for using equity method
Total non-operating income and expenses
Profit before income tax
Income tax expense
Profit from continuing operations
Profit
Other comprehensive income
Components of other comprehensive income
that will not be reclassified to profit or loss
Gains on remeasurements of defined benefit
plans
Unrealised gains (losses) from investments in
equity instruments measured at fair value
through other comprehensive income
Income tax related to components of other
comprehensive income that will not be
reclassified to profit or loss
Total components of other comprehensive
income that will not be reclassified to profit
or loss
Components of other comprehensive income
(loss) that will be reclassified to profit or loss
Exchange differences on translation
Total components of other comprehensive
(loss) income that will be reclassified to
profit or loss
Other comprehensive income
Total comprehensive income
Basic earnings per share
Basic earnings per share
Diluted earnings per share

Items	YearendedDecember31 2023 2022 Notes AMOUNT % AMOUNT % `$` `1,456,959` `100` `$` `1,259,707` `100` `(` `773,514 ) (` `53) (` `786,838) (` `63)` `683,445` `47` `472,869` `37` `(` `113,412 ) (` `8) (` `91,298) (` `7)` `(` `64,871 ) (` `4) (` `83,849) (` `7)` `(` `59,655 ) (` `4) (` `53,029) (` `4)` `(` `167 )` `- (` `3,895)` `-` `(` `238,105 ) (` `16) (` `232,071) (` `18)` `445,340` `31` `240,798` `19` `49,049` `3` `21,893` `2` `51,591` `4` `41,769` `3` `68,815` `5` `331,936` `26` `(` `10,644 ) (` `1) (` `9,941) (` `1)` `(` `56,750 ) (` `4) (` `91,701) (` `7)` `102,061` `7` `293,956` `23` `547,401` `38` `534,754` `42` `(` `111,740 ) (` `8) (` `126,194) (` `10)` `435,661` `30` `408,560` `32` `$` `435,661` `30` `$` `408,560` `32` `$` `3,972` `- ($` `381)` `-` `26,304` `2` `7,008` `1` `(` `794 )` `-` `76` `-` `29,482` `2` `6,703` `1` `(` `11,205 ) (` `1)` `3,890` `-` `(` `11,205 ) (` `1)` `3,890` `-` `$` `18,277` `1` `$` `10,593` `1` `$` `453,938` `31` `$` `419,153` `33` `$` `5.88` `$` `5.51` `$` `5.86` `$` `5.50`
Operating revenue Operating costs Gross profit from operations Operating expenses Selling expenses Administrative expenses Research and development expenses Impairment loss (impairment gain and reversal of impairment loss) determined in accordance with IFRS 9 Total operating expenses Net operating income Non-operating income and expenses Interest income Other income Other gains and losses Finance costs Share of loss of associates and joint ventures accounted for using equity method Total non-operating income and expenses Profit before income tax Income tax expense Profit from continuing operations Profit Other comprehensive income Components of other comprehensive income that will not be reclassified to profit or loss Gains on remeasurements of defined benefit plans Unrealised gains (losses) from investments in equity instruments measured at fair value through other comprehensive income Income tax related to components of other comprehensive income that will not be reclassified to profit or loss Total components of other comprehensive income that will not be reclassified to profit or loss Components of other comprehensive income (loss) that will be reclassified to profit or loss Exchange differences on translation Total components of other comprehensive (loss) income that will be reclassified to profit or loss Other comprehensive income Total comprehensive income Basic earnings per share Basic earnings per share Diluted earnings per share

Y.C.C. PARTS MFG. CO., LTD. STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2023 AND 2022

(Expressed in thousands of New Taiwan dollars)

Year 2022 Balance at January 1, 2022 Profit for the year Other comprehensive income (loss) for the year Total comprehensive income Appropriation and distribution of 2021 earnings Legal reserve (Reversal of) Special reserve Cash dividends Decrease in treasury shares Balance at December 31, 2022 Year 2023 Balance at January 1, 2023 Profit for the year Other comprehensive (loss) income Total comprehensive (loss) income Appropriation and distribution of 2022 earnings Legal reserve (Reversal of) Special reserve Cash dividends Balance at December 31, 2023	Notes		Ordinary share	Capital surplus, additional paid- incapital	Capital surplus, additional paid- incapital			Retained earnings	Retained earnings	Otherequityinterest	Otherequityinterest	Treasury shares		Totalequity
							Legal reserve	Special reserve	Unappropriated retained earnings	Exchange differences on translation of foreign financial statements	Unrealised gains (losses) from financial assets measured at fair value through other comprehensive income
		`$ 741,389` `-` `-` `-` `-` `-` `-` `(` `150 )` `$ 741,239` `$ 741,239` `-` `-` `-` `-` `-` `-` `$ 741,239`			`$ 1,193,349` `-` `-` `-` `-` `-` `-` `-` `$ 1,193,349` `$ 1,193,349` `-` `-` `-` `-` `-` `-` `$ 1,193,349`		`$ 329,574` `-` `-` `-` `13,637` `-` `-` `-` `$ 343,211` `$ 343,211` `-` `-` `-` `40,788` `-` `-` `$ 383,999`	`$ 105,211` `-` `-` `-` `-` `14,829` `-` `-` `$ 120,040` `$ 120,040` `-` `-` `-` `-` `(` `10,898 )` `-` `$ 109,142`	`$ 1,194,447` `408,560` `(` `305 )` `408,255` `(` `13,637 )` `(` `14,829 )` `(` `148,248 )` `(` `376 )` `$ 1,425,612` `$ 1,425,612` `435,661` `3,178` `438,839` `(` `40,788 )` `10,898` `(` `222,372 )` `$ 1,612,189`	`($` `86,492 )` `-` `3,890` `3,890` `-` `-` `-` `-` `($` `82,602 )` `($` `82,602 )` `-` `(` `11,205 )` `(` `11,205 )` `-` `-` `-` `($` `93,807 )`	`($` `33,548 )` `-` `7,008` `7,008` `-` `-` `-` `-` `($` `26,540 )` `($` `26,540 )` `-` `26,304` `26,304` `-` `-` `-` `($` `236 )`	`($` `526 )` `-` `-` `-` `-` `-` `-` `526` `$` `-` `$` `-` `-` `-` `-` `-` `-` `-` `$` `-`	`$ 3,443,404` `408,560` `10,593` `419,153` `-` `-` `(` `148,248 )` `-` `$ 3,714,309` `$ 3,714,309` `435,661` `18,277` `453,938` `-` `-` `(` `222,372 )` `$ 3,945,875`

Y.C.C. PARTS MFG. CO., LTD.

STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2023 AND 2022

(Expressed in thousands of New Taiwan dollars)

CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax
Adjustments
Adjustments to reconcile profit (loss)
Depreciation expense
Depreciation expense - right-of-use assets
Amortization expense
Expected credit impairment loss
Net loss on financial assets or liabilities at fair
value through profit or loss
Interest expense
Interest income
Government grant
Dividend income
Share of loss (profit) of associates accounted
for under equity method
Gain on disposal of property, plant and
equipment
Changes in operating assets and liabilities
Changes in operating assets
Notes receivable
Accounts receivable
Accounts receivable-related parties
Other receivables
Other receivables-related parties
Inventories
Other current assets
Changes in operating liabilities
Contract liabilities - current
Notes payable
Accounts payable
Other payables
Other current liabilities
Net defined benefit liability
Cash inflow generated from operations
Interest received
Interest paid
Dividend received
Income tax paid
Net cash flows from operating activities YearendedDecember31
Notes
2023
2022
$
547,401 $
534,754
278,723
276,987
2,678
2,268
6,231
9,779
167
3,895
(
4,953 ) (
38,008 )
10,644
9,941
(
49,049 ) (
21,893 )
(
1,410 ) (
1,099 )
(
6,733 ) (
4,958 )
56,750
91,701
- (
3,550 )
(
2,546 )
1,791
(
66,961 ) (
63,919 )
9,381 (
5,522 )
(
16,239 )
6,471
(
4,016 ) (
84 )
(
94,634 )
18,856
6,885
2,938
(
945 )
326
14,972 (
15,513 )
8,027 (
11,634 )
6,683 (
13,598 )
(
3 )
2
(
138 )
202
700,915
780,133
49,260
19,874
(
10,539 ) (
9,809 )
6,733
4,958
(
51,135 ) (
31,622 )
695,234
763,534

(Continued)

~31~

Y.C.C. PARTS MFG. CO., LTD. STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2023 AND 2022

(Expressed in thousands of New Taiwan dollars)

CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of financial assets at fair value through
profit or loss
Proceeds from disposal of financial assets at fair
value through profit or loss
(Increase) decrease in financial assets at amortised
cost
Increase in other receivables due from related
parties
Acquisition of property, plant and equipment
Payment for capitalized interests
Gain on disposal of property, plant and equipment
Acquisition of intangible assets
Increase in other non-current assets
Increase in guarantee deposits
Acquisition of financial assets measured at fair
value through other comprehensive profit or loss -
non-current
Acquisition of real estate investment
Increase in prepaid equipment and project payments
Net cash flows used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in short-term borrowings
Decrease in short-term borrowings
Decrease in short-term notes and bills payable
Proceeds from long-term borrowings
Repayments of long-term borrowings
Repayment of principal portion of lease liabilities
Cash dividends paid
Net cash flows used in financing activities
Effect of exchange rate changes on cash and cash
equivalents
Net (decrease) increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year YearendedDecember31
Notes
2023
2022
($
12,263 ) ($
78,280 )
12,261
77,419
(
125,890 )
180,449
(
312,056 ) (
83,709 )
(
156,864 ) (
238,237 )
- (
1,193 )
2,010
4,073
(
1,533 ) (
861 )
(
2,690 ) (
3,496 )
(
2,900 ) (
1,809 )
(
26,748 ) (
19,932 )
(
80,887 )
-

(
261,248 ) (
129,289 )
(
968,808 ) (
294,865 )
-
15,000
- (
15,000 )
- (
50,000 )
-
192,540
(
154,424 ) (
105,835 )
(
2,663 ) (
2,668 )
(
222,372 ) (
148,248 )
(
379,459 ) (
114,211 )
-
42,272
(
653,033 )
396,730
905,487
508,757
$
252,454 $
905,487

Attachment IV

Y.C.C. Parts MFG Co., Ltd.

Statement of Retained Earnings

2023

2023
	Unit: NT$
Beginning undistributed earnings Add: Current period net profit Remeasurement of the defined benefit plan recorded in retained earnings Disposal of equity instrument at FVTOCI, accumulated gain or loss is directly transferred to retained earnings The sum of the total amount of after-tax net income for the period and other profit items adjusted to the current year’s undistributed earnings Less: Legal reserve (10%) Less: Reversal (appropriation) of special reserve Current distributable earnings Allocation: Cash dividends (NT$3 per share) Ending undistributed earnings Note:	1,173,351,403 435,661,071 3,177,753 0
		438,838,824
		(43,883,882) 15,098,548
		1,583,404,893 (222,371,625)
		1,361,033,268

(1) 2023 earnings are distributed first.

(2) The distributable cash dividends are rounded off to the nearest NTD. The Chair is authorized to have dedicated personnel adjust the fractional-cent amount.
(3) The legal reserve shall be appropriated based on “the sum of the total amount of after-tax net income for the period and other profit items adjusted to the current year’s undistributed earnings” in accordance with Jing-Shang-Zi Letter No. 1082432410.

Attachment V

Y.C.C. Parts MFG Co., Ltd.

Before and After Revision Comparison Tables of Articles of Incorporation

	Clauses after the amendments	Clauses before the amendments	Explanation
Article 2	The operating businesses are listed as follows: 1. CB01010 Mechanical Equipment Manufacturing 2. CB01990 Other Machinery Manufacturing 3. CD01030 Automobiles and Parts Manufacturing 4. F114010 Wholesale of Motor Vehicles 5. F114030 Wholesale of Motor Vehicle Parts and Motorcycle Parts, Accessories 6. F214010 Retail Sale of Motor Vehicles 7. F214030 Retail Sale of Motor Vehicle Parts and Motorcycle Parts, Accessories 8. CD01040 Motorcycles and Parts Manufacturing 9. F114020 Wholesale of Motorcycles 10. F214020 Retail Sale of Motorcycles 11. CD01050 Bicycles and Parts Manufacturing 12. F114040 Wholesale of Bicycle and Component Parts Thereof 13. F214040 Retail Sale of Bicycle and Component Parts Thereof 14. F401010 International Trade 15. H201010 Investment 16. CA04010 Surface Treatments 17. C805050 Industrial Plastic Products Manufacturing 18. C303010 Manufacture of Non-woven Fabrics 19. F104110 Wholesale of Cloths, Garments, Shoes, Hats, Umbrellas and Clothing Accessories 20. F204110 Retail Sale of Cloths, Garments, Shoes, Hats, Umbrellas and Clothing Accessories	The operating businesses are listed as follows: 1. CB01010 Mechanical Equipment Manufacturing 2. CB01990 Other Machinery Manufacturing 3. CD01030 Automobiles and Parts Manufacturing 4. F114010 Wholesale of Motor Vehicles 5. F114030 Wholesale of Motor Vehicle Parts and Motorcycle Parts, Accessories 6. F214010 Retail Sale of Motor Vehicles 7. F214030 Retail Sale of Motor Vehicle Parts and Motorcycle Parts, Accessories 8. CD01040 Motorcycles and Parts Manufacturing 9. F114020 Wholesale of Motorcycles 10. F214020 Retail Sale of Motorcycles 11. CD01050 Bicycles and Parts Manufacturing 12. F114040 Wholesale of Bicycle and Component Parts Thereof 13. F214040 Retail Sale of Bicycle and Component Parts Thereof 14. F401010 International Trade 15. H201010 Investment 16. CA04010 Surface Treatments 17. C805050 Industrial Plastic Products Manufacturing 18. C303010 Manufacture of Non-woven Fabrics 19. F104110 Wholesale of Cloths, Garments, Shoes, Hats, Umbrellas and Clothing Accessories 20. F204110 Retail Sale of Cloths, Garments, Shoes, Hats, Umbrellas and Clothing Accessories	New business items

	21. CF01011 Medical Devices Manufacturing 22. F108031 Wholesale of Medical Devices 23. F208031 Retail Sale of Medical Apparatus 24. CZ99990 Manufacture of Other Industrial Products Not Elsewhere Classified 25. CP01010 Hand Tools Manufacturing 26. CQ01010 Mold and Die Manufacturing 27. E603050 Automatic Control Equipment Engineering 28. C805020 Manufacture of Plastic Films and Bags 29. F107190 Wholesale of Plastic Films and Bags 30. F207190 Retail Sale of Plastic Films and Bags 31. C805990 Other Plastic Products Manufacturing 32. C103050 Manufacturing of Canning, Freezing, Dehydration, Pickled of Food 33. F102170 Wholesale of Foods and Groceries 34. F203010 Retail Sale of Food, Grocery and Beverage 35. C114010 Food Additives Manufacturing 36. F121010 Wholesale of Food Additives 37. F221010 Retail of Food Additives 38. C199990 Manufacture of Other Food Products Not Elsewhere Classified 39. C802100 Cosmetics Manufacturing 40. F108040 Wholesale of Cosmetics 41. F208040 Retail Sale of Cosmetics 42. F107990 Wholesale of Other Chemical Products 43. F207990 Retail Sale of Other Chemical Products 44. C110010 Beverage Manufacturing 45. F102040 Wholesale of	21. CF01011 Medical Devices Manufacturing 22. F108031 Wholesale of Medical Devices 23. F208031 Retail Sale of Medical Apparatus 24. CZ99990 Manufacture of Other Industrial Products Not Elsewhere Classified 25. CP01010 Hand Tools Manufacturing 26. CQ01010 Mold and Die Manufacturing 27. E603050 Automatic Control Equipment Engineering 28. C805020 Manufacture of Plastic Films and Bags 29. F107190 Wholesale of Plastic Films and Bags 30. F207190 Retail Sale of Plastic Films and Bags 31. C805990 Other Plastic Products Manufacturing 32. C103050 Manufacturing of Canning, Freezing, Dehydration, Pickled of Food 33. F102170 Wholesale of Foods and Groceries 34. F203010 Retail Sale of Food, Grocery and Beverage 35. C114010 Food Additives Manufacturing 36. F121010 Wholesale of Food Additives 37. F221010 Retail of Food Additives 38. C199990 Manufacture of Other Food Products Not Elsewhere Classified 39. C802100 Cosmetics Manufacturing 40. F108040 Wholesale of Cosmetics 41. F208040 Retail Sale of Cosmetics 42. F107990 Wholesale of Other Chemical Products 43. F207990 Retail Sale of Other Chemical Products 44. C110010 Beverage Manufacturing 45. F102040 Wholesale of

	46.	Non-alcoholic Beverages 46. ZZ99999 All business items that are not prohibited or restricted by law, except those that are subject to special approval.
	47.
	48.
	49.
	50.
	51.
	52.
Article 29	The Articles of Incorporation are adopted on February 19, 1986. The 1st amendment on June 1, 1986. The 2nd amendment on October 15, 1989. The 3rd amendment on October 7, 1994. The 4th amendment on August 15, 1996. The 5th amendment on November 13, 1998. The 6th amendment on November 5, 1999. The 7th amendment on December 1, 2000. The 8th amendment on December 1, 2000. The 9th amendment on June 10, 2002. The 10th amendment on June 5, 2003. The 11th amendment on December 17, 2003. The 12th amendment on June 4, 2004. The 13th amendment on June 18, 2004. The 14th amendment on November 24, 2004. The 15th amendment on October 5, 2005. The 16th amendment on June 5, 2007. The 17th amendment on July 5, 2007. The 18th amendment on September 14,2007.	The Articles of Incorporation are adopted on February 19, 1986. The 1st amendment on June 1, 1986. The 2nd amendment on October 15, 1989. The 3rd amendment on October 7, 1994. The 4th amendment on August 15, 1996. The 5th amendment on November 13, 1998. The 6th amendment on November 5, 1999. The 7th amendment on December 1, 2000. The 8th amendment on December 1, 2000. The 9th amendment on June 10, 2002. The 10th amendment on June 5, 2003. The 11th amendment on December 17, 2003. The 12th amendment on June 4, 2004. The 13th amendment on June 18, 2004. The 14th amendment on November 24, 2004. The 15th amendment on October 5, 2005. The 16th amendment on June 5, 2007. The 17th amendment on July 5, 2007. The 18th amendment on September 14,2007.	Added amendment date

		The 19th amendment on December 20, 2007. The 20th amendment on June 22, 2010. The 21st amendment on May 17, 2011. The 22nd amendment on July 15, 2011. The 23rd amendment on June 26, 2012. The 24th amendment on June 23, 2014. The 25th amendment on December 18, 2014. The 26th amendment on June 20, 2016. The 27th amendment on June 19, 2017. The 28th amendment on October 1, 2018. The 29th amendment on May 29, 2019. The 30th amendment on May 29, 2020. The 31st amendment on November 23, 2020. The 32nd amendment on August 30, 2021. The 33rd amendment on February 14, 2022. The 34th amendment on May 27, 2022. The 35th amendment on May 30, 2024.	The 19th amendment on December 20, 2007. The 20th amendment on June 22, 2010. The 21st amendment on May 17, 2011. The 22nd amendment on July 15, 2011. The 23rd amendment on June 26, 2012. The 24th amendment on June 23, 2014. The 25th amendment on December 18, 2014. The 26th amendment on June 20, 2016. The 27th amendment on June 19, 2017. The 28th amendment on October 1, 2018. The 29th amendment on May 29, 2019. The 30th amendment on May 29, 2020. The 31st amendment on November 23, 2020. The 32nd amendment on August 30, 2021. The 33rd amendment on February 14, 2022. The 34th amendment on May 27, 2022.

AI assistant

Y.C.C. — Annual Report 2023

51783_rns_2024-05-30_0598ed4f-cc96-402d-bcb7-569c2cc6b672.pdf

Y.C.C. Parts MFG Co., Ltd. 2024 The First Shareholders’ Meeting Each Report Item and Explanation

Proposals

Discussion

Extempore Motion

Adjournment

Attachment

Attachment I

2023 Business Report

Dear Shareholders:

2023 Business Results

(I) 2023 Results of the business plan

Attachment II

Audit Committees’ Review Report

Yours sincerely,

For

Attachment III

INDEPENDENT AUDITORS’ REPORT TRANSLATED FROM CHINESE

To the Board of Directors and Shareholders of Y.C.C. Parts Mfg. Co., Ltd. Opinion

Basis for opinion

Key audit matters

Cut-off of sales revenue recognition

Description

How our audit addressed the matter

Assessment of allowance for inventory valuation loss

Description

How our audit addressed the matter

Other matter – Parent company only financial reports

Responsibilities of management and those charged with governance for the consolidated financial statements

Auditors’ responsibilities for the audit of the consolidated financial statements

Y.C.C. PARTS MFG. CO. LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2023 AND 2022

Y.C.C. PARTS MFG. CO. LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2023 AND 2022

Y.C.C. PARTS MFG. CO. LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2023 AND 2022

Y.C.C. PARTS MFG. CO. LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

YEARS ENDED DECEMBER 31, 2023 AND 2022

Y.C.C. PARTS MFG. CO. LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2023 AND 2022

Y.C.C. PARTS MFG. CO. LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2023 AND 2022

Y Y.C.C. PARTS MFG. CO. LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2023 AND 2022

INDEPENDENT AUDITORS’ REPORT TRANSLATED FROM CHINESE

To the Board of Directors and Shareholders of Y.C.C. Parts Mfg. Co., Ltd. Opinion

Basis for opinion

Key audit matters

Cut-off of sales revenue recognition

Description

How our audit addressed the matter

Assessment of allowance for inventory valuation loss

Description

How our audit addressed the matter

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

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

statements

Y.C.C. PARTS MFG. CO., LTD. BALANCE SHEETS DECEMBER 31, 2023 AND 2022

Y.C.C. PARTS MFG. CO., LTD. BALANCE SHEETS DECEMBER 31, 2023 AND 2022

Y.C.C. PARTS MFG. CO., LTD. STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2023 AND 2022

Y.C.C. PARTS MFG. CO., LTD. STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2023 AND 2022

Y.C.C. PARTS MFG. CO., LTD.

STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2023 AND 2022

Y.C.C. PARTS MFG. CO., LTD. STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2023 AND 2022

Y.C.C. Parts MFG Co., Ltd.

Statement of Retained Earnings

(1) 2023 earnings are distributed first.

Attachment V

Y.C.C. Parts MFG Co., Ltd.

Before and After Revision Comparison Tables of Articles of Incorporation

More from Y.C.C.

Y.C.C. Annual Report 2023