YP - Interim / Quarterly Report 2021

Stock Code: 2023

YIEH PHUI ENTERPRISE CO., LTD. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2021 AND 2020 AND INDEPENDENT AUDITORS’ REVIEW REPORT

Address: No. 369, Yuliao Road, Qiaotou District, Kaohsiung City Tel: (07) 611-7181

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Item	Page
1. Cover	1
2. Table of Contents	2
3. Independent Auditors’ Review Report	3
4.Consolidated Balance Sheets	4
5.Consolidated Statements of Comprehensive Income	5
6.Consolidated Statements of Changes in Equity	6
7.Consolidated Statements of Cash Flows	7
8.Notes to Consolidated Financial Statements
(1) General Information	8
(2) The Authorization of the Consolidated Financial Statements	8
(3) Application of New and Amended Standards and Interpretations	8~11
(4) Summary of Significant Accounting Policies	11~17
(5) Critical Accounting Judgments, Estimates and Major Sources of Assumption Uncertainty	17
(6) Details of Significant Accounts	17~50
(7) Related Party Transactions	50~56
(8) Pledged Assets	56
(9) Significant Contingent Liabilities and Unrecognized Contract commitments	57~60
(10) Significant Disaster Loss	60
(11) Significant Subsequent Events	60
(12) Others	60~72
(13) Supplementary Disclosures	73
A. Significant transactions information	74~85
B. Information on investees	86~92
C. Information on investments in Mainland China	93~94
D. Major shareholders	95
(14)Segment information	96~97

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國富浩華聯合會計師事務所 Crowe (TW) CPAs 80250 高雄市苓雅區四維三路 6 號 27 樓之 1 27F-1., No.6, Siwei 3rd Rd., Lingya Dist., Kaohsiung City 80250, Taiwan Tel +886 7 3312133 Fax +886 7 3331710 www.crowe.tw

Independent Auditors’ Review Report

To the Board of Directors and Shareholders Yieh Phui Enterprise Co., Ltd.

Introduction

We have reviewed the accompanying consolidated balance sheets of Yieh Phui Enterprise Co., Ltd. and subsidiaries (the “Group”) as of March 31, 2021 and 2020, the related consolidated statements of comprehensive income for the three months ended March 31, 2021 and 2020, the consolidated statements of changes in equity and cash flows for the three months ended March 31, 2021 and 2020, and notes to the consolidated financial statements, including a summary of significant accounting policies (together “the consolidated financial statements”). Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Accounting Standards 34, “Interim Financial Reporting” as endorsed and became effective by Financial Supervisory Commission (FCS) of the Republic of China. Our responsibility is to express a conclusion on these consolidated financial statements based on our reviews.

Scope of Review

Except as disclosed in basis for qualified conclusion paragraph, we conducted our reviews in accordance with Statement of Auditing Standards No. 65, “Review of Financial Information Performed by the Independent Auditor of the Entity” of the Republic of China. A review of consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with auditing standards generally accepted in the Republic of China and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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Basis for Qualified Conclusion

As disclosed in Note 4.3 to the consolidated financial statements, the financial statements of non-significant subsidiaries were consolidated based on their unreviewed financial statements as of and for the same periods. These subsidiaries’ total assets amounted to $9,677,543 thousand and $10,882,617 thousand, representing 11.25% and 12.99% of the consolidated assets, and their total liabilities amounted to $4,177,314 thousand and $4,603,417 thousand, representing 7.31% and 8.07% of the consolidated liabilities as of March 31, 2021 and 2020, respectively. And their total comprehensive income (loss) amounted to ($11,985) thousand and ($347,337) thousand, representing (1.18%) and 55.98% of the consolidated comprehensive income (loss) for the three months ended March 31, 2021 and 2020, respectively. In addition, as described in Note 6.11 to the consolidated financial statements, the financial statements of investments accounted for using equity method were not reviewed by independent accountants. The carrying values of these investments amounted to $14,267,955 thousand and $10,311,085 thousand, representing 16.59% and 12.31% of the consolidated assets as of March 31, 2021 and 2020, respectively, and share of profit (loss) of these associates accounted for using equity method amounted to $41,891 thousand and ($285,648) thousand, representing 2.98% and 64.17% of total consolidated income before income tax for the three months ended March 31, 2021 and 2020, respectively. In addition, share of other comprehensive income of these associates accounted for using equity method amounted to ($17,023) thousand and $13,737 thousand, representing 17.04% and (6.31%) of total consolidated comprehensive income for the three months ended March 31, 2021 and 2020, respectively. These amounts were recognized solely based on these investees’ unreviewed financial statements for the same periods. The information related to above subsidiaries, and investees accounted for under the equity method disclosed in Note 13 was also not reviewed by independent accountants.

Qualified Conclusion

Based on our reviews, except for the effects of any adjustments as might have been determined to be necessary had the financial statements and related information of the Company’s non-significant subsidiaries and investees accounted for using equity method described in basis for qualified conclusion paragraph, nothing has come to our attention that causes us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of the Group as of March 31, 2021 and 2020, its consolidated financial performance for the three months ended March 31, 2021 and 2020, and its consolidated cash flows for the three months ended March 31, 2021 and 2020, in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, “Interim Financial Reporting” as endorsed and became effective by the Financial Supervisory Commission (FSC) of the Republic of China.

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Other Matter

We did not review the financial statements of certain investments accounted for under equity method. These financial statements were reviewed by the other independent auditors whose reports thereon have been furnished to us and our conclusion expressed herein, insofar as it relates to the amounts included in the consolidated financial statements and information disclosed relative to these investments, is based solely on the reports of the other independent auditors. The carrying values of these investments accounted for using equity method amounted to $3,925,775 thousand, representing 4.69% of the consolidated assets as of March 31, 2020, and share of profit (loss) of these associates accounted for using equity method amounted to ($164,550) thousand, representing 36.97% of total consolidated income before income tax for the three months then ended. In addition, share of other comprehensive income of these associates accounted for using equity method amounted to ($4,090) thousand, representing 1.88% of total consolidated comprehensive income for the three months then ended.

The engagement partners on the reviews resulting in this independent auditors’ review report are Ling Wen Huang and Shu Man Tsai.

Crowe (TW) CPAs Kaohsiung, Taiwan Republic of China

May 5, 2021

Notice to Readers

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

For the convenience of readers, the independent auditors’ review report and the accompanying consolidated financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese-language independent auditors’ review report and consolidated financial statements shall prevail.

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YIEH PHUI ENTERPRISE CO., LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS

(The Consolidated Balance Sheets as of March 31, 2021 and 2020 Were Reviewed Only, Not Audited in Accordance with the Generally Accepted Auditing Standards in the Republic of China)

(In Thousands of New Taiwan Dollars)

Assets	Note	March31,2021	March31,2021	December31,2020	December31,2020	March31,2020	March31,2020
		Amount	％	Amount	％	Amount	％
CURRENT ASSETS Cash and cash equivalents Financial assets at fair value through profit or loss - current Contract assets - current Notes receivable, net Accounts receivable, net Accounts receivable - related parties, net Other receivables Other receivables - related parties Current tax assets Inventories Prepayments Noncurrent assets held for sale Other financial assets - current Total Current Assets NONCURRENT ASSETS Financial assets at fair value through profit or loss - noncurrent Financial assets at fair value through other comprehensive income or loss - noncurrent Investments accounted for using equity method Property, plant and equipment Right-of-use assets Investment properties Intangible assets Deferred tax assets Other noncurrent assets Refundable deposits Net defined benefit assets - noncurrent Other financial assets - noncurrent Total Noncurrent Assets TOTAL ASSETS	6(1) 6(2) 6(31) 6(3) 6(4) 7 6(5) 7 6(6) 6(7) 6(8) 6(9) 6(2) 6(10) 6(11) 6(12) 6(13) 6(14) 6(15) 6(16) 6(17) 8	$4,373,983 342,925 140,724 424,878 2,092,207 167,481 149,495 36,823 3,852 10,671,891 2,419,132 14,673 982,973	5 - - - 2 - - - - 14 3 - 1	$3,730,782 697,978 334,945 572,750 1,860,885 185,803 132,208 74,919 4,834 8,532,107 3,524,160 160,114 807,846	4 1 - 1 2 - - - - 11 4 - 1	$4,411,238 421,954 686,793 684,543 1,697,843 945,453 105,979 239,618 10,379 8,339,192 2,070,371 15,129 1,184,584	5 1 1 1 2 1 - - - 11 2 - 1
		21,821,037	25	20,619,331	24	20,813,076	25
		- 670,424 14,267,955 46,828,396 482,260 86,742 352,566 823,319 23,839 234,528 12,682 417,155	- 1 17 54 1 - - 1 - - - 1	- 725,334 13,864,013 46,222,080 495,998 101,583 374,347 960,802 20,769 222,895 10,777 414,441	- 1 17 55 1 - - 1 - - - 1	290,877 631,150 14,236,860 43,773,039 492,773 608,640 376,958 1,059,560 10,009 937,151 - 540,208	- 1 17 52 1 1 - 1 - 1 - 1
		64,199,866	75	63,413,039	76	62,957,225	75
		$86,020,903	100	$84,032,370	100	$83,770,301	100

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Liabilities and Equity	Note	March31,2021	March31,2021	December31,2020	December31,2020	March31,2020	March31,2020
		Amount	％	Amount	％	Amount	％
CURRENT LIABILITIES Short-term loans Short-term notes and bills payable Financial liabilities at fair value through profit or loss - current Contract liabilities - current Notes payable Accounts payable Other payables Current tax liabilities Provisions - current Liabilities directly associated with noncurrent assets held for sale Lease liabilities - current Current portion of long-term loans Total Current Liabilities NONCURRENT LIABILITIES Long-term loans Deferred tax liabilities Lease liabilities - noncurrent Long-term deferred revenue Net defined benefit liability - noncurrent Guarantee deposits Total Noncurrent Liabilities TOTAL LIABILITIES EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT Share capital Common stock Capital surplus Retained earnings Legal reserve Special reserve Unappropriated earnings (accumulated deficits) Other equity Treasury stocks Total equity attributable to owners of the parent NON-CONTROLLING INTERESTS Total Equity TOTAL LIABILITIES AND EQUITY	6(18) 6(19) 6(2) 6(31) 6(20) 6(21) 6(8) 6(13) 6(22) 6(22) 6(13) 6(23) 6(25) 6(26) 6(27) 6(28) 6(29) 6(30)	$14,587,531 17 1,282,250 1 18,535 - 1,972,980 2 609,630 1 1,469,410 2 1,462,741 2 26,169 - 96,528 - 16,534 - 8,464 - 4,931,167 6		$14,925,307 1,289,365 14,495 2,119,604 469,760 995,914 1,753,874 14,393 93,802 70,070 8,419 5,322,794	17 2 - 3 1 1 2 - - - - 6	$15,834,574 932,620 - 1,398,689 796,433 1,374,556 1,173,577 9,782 102,126 5,100 7,822 3,788,577	18 1 - 2 1 2 1 - - - - 5
		26,481,939	31	27,077,797	32	25,423,856	30
		30,145,572 2,538 72,062 27,949 426,700 20,391	34 - - - 1 -	28,561,294 2,205 73,501 28,038 439,736 18,685	34 - - - 1 -	30,970,905 16,728 79,677 29,394 533,862 18,241	37 - - - 1 -
		30,695,212	35	29,123,459	35	31,648,807	38
		57,177,151	66	56,201,256	67	57,072,663	68
		18,905,695 4,929,007 2,866,052 559,232 1,268,607 (1,049,141) -	22 6 3 1 1 (1) -	18,905,695 4,929,007 2,866,052 559,232 163,734 (954,509) -	22 6 3 1 - (1) -	19,133,275 4,886,203 2,866,052 559,232 (929,568) (1,173,165) (123,395)	22 6 3 1 (1) (1) -
		27,479,452 1,364,300	32 2	26,469,211 1,361,903	31 2	25,218,634 1,479,004	30 2
		28,843,752	34	27,831,114	33	26,697,638	32
		$86,020,903	100	$84,032,370	100	$83,770,301	100

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

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YIEH PHUI ENTERPRISE CO., LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Reviewed Only, Not Audited in Accordance with the Generally Accepted Auditing Standards in the Republic of China ) (In Thousands of New Taiwan Dollars, Except Earnings Per Share)

Note	Three Months Ended March31	Three Months Ended March31	Three Months Ended March31
	2021		2020
	Amount	%	Amount	%
6(31) 6(6) 6(33) 6(34) 6(35) 6(36) 6(37) 6(38) 6(39) 6(39)	$18,690,275 (16,695,620)	100 (89)	$12,653,193 (11,756,874)	100 (93)
	1,994,655 (639,644) (265,878) (25,663) (3)	11 (4) (1) - -	896,319 (605,134) (239,798) (22,071) (10)	7 (5) (2) - -
	(931,188)	(5)	(867,013)	(7)
	1,063,467	6	29,306	-
	3,702 42,824 516,753 (262,494) 41,891	- - 3 (1) -	12,951 216,876 52,695 (306,779) (450,198)	- 2 - (2) (4)
	342,676	2	(474,455)	(4)
	1,406,143 (292,796)	8 (2)	(445,149) 42,475	(4) -
	1,113,347	6	(402,674)	(4)
	(24,985) 21,920 (64,102) 4,897 6,192	- (1) - - -	(78,736) (11,939) (157,830) 21,586 9,176	(1) - (1) - -
	(99,918)	(1)	(217,743)	(2)
	$1,013,429	5	$(620,417)	(6)
	$1,104,219 9,128	6 -	$(313,462) (89,212)	(3) (1)
	$1,113,347	6	$(402,674)	(4)
	$1,011,012 2,417	5 -	$(508,456) (111,961)	(5) (1)
	$1,013,429	5	$(620,417)	(6)
	$0.58		$(0.16)
	$0.58		$(0.16)

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

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YIEH PHUI ENTERPRISE CO., LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(Reviewed Only, Not Audited in Accordance with the Generally Accepted Auditing Standards in the Republic of China)

(In Thousands of New Taiwan Dollars)

Common Stock	Capital Surplus		Retained Earnings			Other EquityItem		TreasuryStock	Total Equity Attributable to Shareholders of theparent	Non-controlling Interests	Total Equity
		Legal Reserve	Special Reserve	Unappropriated Earnings (Accumulated Deficits)	Exchange Differences on Translating Foreign Operations	Unrealized Gain (Loss) on Financial Assets at Fair Value Through Other Comprehensive Income	Gain (Loss) on Hedging Instruments
$19,133,275 - - -	$4,884,281 - - -	$2,866,052 - - -	$559,232 - - -	($614,438) (997) (313,462) -	($1,090,046) - - (105,069)	$105,537 - - (89,893)	$6,338 - - (32)	$ - - - -	$25,850,231 (997) (313,462) (194,994)	$1,599,689 - (89,212) (22,749)	$27,449,920 (997) (402,674) (217,743)
-	-	-	-	(313,462)	(105,069)	(89,893)	(32)	-	(508,456)	(111,961)	(620,417)
- - - -	- 1,922 - -	- - - -	- - - -	- - (671) -	- - - -	- - - -	- - - -	(123,395) - - -	(123,395) 1,922 (671) -	- (1,922) 671 (7,473)	(123,395) - - (7,473)
$19,133,275	$4,886,203	$2,866,052	$559,232	($929,568)	($1,195,115)	$15,644	$6,306	($123,395)	$25,218,634	$1,479,004	$26,697,638
$18,905,695 - - -	$4,929,007 - - -	$2,866,052 - - -	$559,232 - - -	$163,734 (771) 1,104,219 -	$(1,187,536) - - (46,671)	$226,643 - - (46,505)	$6,384 - - (31)	$ - - - -	$26,469,211 (771) 1,104,219 (93,207)	$1,361,903 (20) 9,128 (6,711)	$27,831,114 (791) 1,113,347 (99,918)
-	-	-	-	1,104,219	(46,671)	(46,505)	(31)	-	1,011,012	2,417	1,013,429
-	-	-	-	1,425	-	(1,425)	-	-	-	-	-
$18,905,695	$4,929,007	$2,866,052	$559,232	$1,268,607	$(1,234,207)	$178,713	$6,353	$-	$27,479,452	$1,364,300	28,843,752

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YIEH PHUI ENTERPRISE CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Reviewed Only, Not Audited in Accordance with the Generally Accepted Auditing Standards in the Republic of China)

(In Thousands of New Taiwan Dollars)

(In Thousands of New Taiwan Dollars)
Item	Three Months Ended March 31 2021 2020 $1,406,143 ($445,149) 439,518 408,145 7,904 7,790 3 10 1,642 2,452 262,494 306,779 (3,702) (12,951) (7,243) (27,206) (41,891) 450,198 (4,471) 3,482 185 566 (3,499) - (539,330) (52,531) (54) (54) 111,556 1,086,680 (22,297) 8,452 194,221 136,037 147,872 160,633 (231,320) (13,824) 18,322 (156,234) 22,337 (210,147) (2,139,784) (589,608) 1,089,928 (134,924) 2,894 (34) (1,905) - (919,732) (799,649) (146,624) 425,902 139,870 (3,532) 473,496 185,729 (307,599) (363,860) 2,726 11,320 - (72) (13,036) (16,915) 148,833 238,572 (770,899) (561,077)
1.CASH FLOWS FROM OPERATING ACTIVITIES Income (loss) before income tax Adjustments to reconcile profit (loss) Depreciation Amortization Expected credit loss Net loss (gain) on financial assets and liabilities at fair value through profit or loss Interest expense Interest income Dividend income Share of (gain) loss of associates and joint ventures Loss (gain) on disposal and retirement of property, plant and equipment Transfer of property, plant and equipment to expenses Gain on disposal of investment properties Gain on disposal of noncurrent assets held for sale Others Total adjustments to reconcile profit (loss) Changes in operating assets and liabilities Net changes in operating assets: Decrease (increase) in financial assets at fair value through profit or loss Decrease (increase) in contract assets Decrease (increase) in notes receivable Decrease (increase) in accounts receivables Decrease (increase) in accounts receivables - related parties Decrease (increase) in other receivables Decrease (increase) in inventories Decrease (increase) in prepayments Decrease (increase) in other financial assets Decrease (increase) in other operating assets Total net changes in operating assets Net changes in operating liabilities: Increase (decrease) in contract liabilities Increase (decrease) in notes payable Increase (decrease) in accounts payable Increase (decrease) in other payables Increase (decrease) in provisions Increase (decrease) in advance receipts Increase (decrease) in net defined benefit liability Total net changes in operating liabilities Total net changes in operating assets and liabilities	$1,406,143 439,518 7,904 3 1,642 262,494 (3,702) (7,243) (41,891) (4,471) 185 (3,499) (539,330) (54)	($445,149) 408,145 7,790 10 2,452 306,779 (12,951) (27,206) 450,198 3,482 566 - (52,531) (54)
	111,556	1,086,680
	(22,297) 194,221 147,872 (231,320) 18,322 22,337 (2,139,784) 1,089,928 2,894 (1,905)	8,452 136,037 160,633 (13,824) (156,234) (210,147) (589,608) (134,924) (34) -
	(919,732)	(799,649)
	(146,624) 139,870 473,496 (307,599) 2,726 - (13,036)	425,902 (3,532) 185,729 (363,860) 11,320 (72) (16,915)
	148,833	238,572
	(770,899)	(561,077)

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Item	Three Months Ended March 31	Three Months Ended March 31
	2021	2020
Total adjustments Cash generated from (used in) operations Interest received Dividends received Interest paid Income tax paid Net cash generated from (used in) operating activities 2.CASH FLOWS FROM INVESTING ACTIVITIES Dispose of financial assets measured at fair value through other comprehensive income and loss Acquisition of investments accounted for using equity method Proceeds from disposal of noncurrent assets held for sale Acquisition of property, plant and equipment Proceeds from disposal of property, plant and equipment Decrease (increase) in refundable deposits Acquisition of intangible assets Acquisition of investment properties Proceeds from disposal of investment properties Increase in other financial assets Decrease in other financial assets Increase in other non-current assets Decrease in other non-current assets Net cash generated from (used in) investing activities 3.CASH FLOWS FROM FINANCING ACTIVITIES Increase in short-term loans Decrease in short-term loans Decrease in short-term bills payable Increase in long-term loans Repayment of long-term loans Increase in guarantee deposits received Repayments of principal of lease liabilities Decrease in other noncurrent liabilities Payments for buy-back of treasury shares Increase (decrease) in non-controlling interests Net cash generated from (used in) financing activities 4.EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 5.NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 6.CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 7.CASH AND CASH EQUIVALENTS AT END OF PERIOD	(659,343)	525,603
	$746,800 3,755 5,662 (253,338) (136,338)	$80,454 16,169 27,206 (319,196) (3,442)
	366,541	(198,809)
	29,925 - 645,908 (1,124,645) 36,400 (11,633) (623) - 18,027 (180,735) - (3,070) -	- (17,987) 73,345 (1,270,220) - (11,298) (578) (1,652) 48,560 - 213,999 - 1,581
	(590,446)	(964,250)
	- (337,776) (7,000) 5,717,737 (4,522,570) 1,706 (1,447) (89) - -	236,828 - - 3,716,030 (3,310,179) 708 (1,160) (183) (123,395) (7,473)
	850,561	511,176
	16,545	39,404
	643,201 3,730,782	(612,479) 5,023,717
	$4,373,983	$4,411,238

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

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YIEH PHUI ENTERPRISE CO., LTD. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2021 AND 2020

(Amounts In Thousands of New Taiwan Dollars, Unless specified Otherwise) (Reviewed, Not Audited)

1. GENERAL INFORMATION

1.1 Yieh Phui Enterprise Co., Ltd. (hereinafter referred to as the Company) was established in April 1978, currently a listed company in Taiwan Stock Exchange. The Company engages mainly in the processing, manufacturing marketing and import/export trading of rolled steel coils, refined steel, molded steel, steel/iron wires, galvanized/prepainted/surface-treated metals.
1.2 The Company’s Board of Directors resolved on May 23, 2005 to merge (simplified merger) with Lien Kang Heavy Industrial Co., Ltd, with the Company as the surviving company. The record date of the merger was set on August 30, 2005. Every 2.5 common shares of Lien Kang Heavy Industrial Co., Ltd. were converted into 1 common share of the Company. The Company issued additional 4,859 thousand common shares for this merger. Rights and obligations of holders of the newly issued shares were the same as those of the Company’s original shareholders.
1.3 Lien Kang Heavy Industrial Co., Ltd., incorporated on November 23, 1989, mainly engages in manufacturing, processing, and trading of the various mechanical spare parts, as well as pipe installation and engineering design/manufacture/installation.
1.4 The Company's steel pipe department, due to its business expansion, was separated from the Company, and was named as Shin Yang Steel Co. Ltd. Relevant investment on this was approved by the Board of Directors on January 18th, 2011, and a total of 191 employees were transferred to Shin Yang Steel Co., Ltd.
1.5 For main operation activities of the Company and its subsidiaries (hereinafter referred to as “the Group”), please refer to Note 4.3.(2).
1.6 These consolidated financial statements are presented in the Company’s functional currency, New Taiwan Dollars.

2. THE AUTHORIZATION OF THE CONSOLIDATED FINANCIAL STATEMENTS

The accompanying consolidated financial statements were reported to the Board of Directors and approved for issue on May 5, 2021.

3. APPLICATION OF NEW AND AMENDED STANDARDS AND INTERPRETATIONS

(1) Effect of adoption of the amendments to the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), Interpretations of IFRS (IFRIC), and Interpretations of SIC (SIC) (collectively, the “IFRSs”) endorsed and issued into effect by the Financial Supervisory Commission (FSC):
New standards, interpretations and amendments endorsed by FSC effective from 2021 are as follows:

－－ 8

Effective date New, Revised or Amended Standards and Interpretations Announced by IASB Amendments to IFRS 4 “Extention of the Temporary June 25, 2020 (Effective Exemption from Applying IFRS 9” from issue date) Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS January 1, 2021 (Note 1) 16 “Interest Rate Benchmark Reform - Phase 2” Amendments to “ IFRS 16 “Leases regarding April 1, 2021 (Note 2) COVID-19-related rent concessions after June 30, 2021”

(Note 1) The amendments are applicable for the annual reporting period beginning on or after January 1, 2021.

(Note 2) The FSC allows companies to apply the amendment in advance on January 1, 2021.

The Group has evaluated the aforementioned standards and interpretations, and there’s no significant effect to the Group’s financial position and financial performance.

(2) Effect of new issuances of or amendments to IFRSs as endorsed by the FSC but not yet adopted by the Group: None.
(3) The IFRSs issued by IASB but not yet endorsed and issued into effect by FSC

Effective Date Announced New, Revised or Amended Standards and Interpretations by IASB (Note 1) Amendments to IFRS 10 and IAS 28 “Sale or Contribution To be determined by IASB of Assets between an Investor and its Associate or Joint Venture” IFRS 17 “Insurance Contracts” January 1, 2023 Amendments to IFRS 17 January 1, 2023 Amendments to IAS 1 “Classification of Liabilities as January 1, 2023 Current or Non-current” Amendments to IAS 16 “Property, Plant and EquipmentJanuary 1, 2022 (Note 2) Proceeds before Intended Use” Amendments to IAS 37 “Onerous Contract - Cost of January 1, 2022 (Note 3) Fulfilling a Contract” Amendments to IFRS 3 “Reference to the Conceptual January 1, 2022 (Note 4) Framework” Annual Improvements to IFRS Standards 2018-2020 January 1, 2022 (Note 5) Amendments to IAS 1 “Disclosure of Accounting Policies” January 1, 2023 (Note 6) Amendments to IAS 8 “Definition of Accounting January 1, 2023 (Note 7) Estimates”

Note 1: Unless stated otherwise, the above New IFRSs are effective for annual reporting periods beginning on or after their respective effective dates.
Note 2: Group should apply these amendments retrospectively. However, the amendments are applicable to property, plant and equipment that are brought to the location and condition necessary for them to be capable of operating in the manner intended by management on or after January 1, 2021.
Note 3: This amendment applies to contracts for which the entity has not yet fulfilled all its obligations on January 1, 2022.
Note 4: This amendment applies to business combinations whose acquisition date starts in the annual reporting period after January 1, 2022.
Note 5: The amendments to IFRS 9 are applicable to swap or modification of terms of financial liabilities incurred during the annual reporting period beginning on January 1, 2022. The amendment to IAS 41 is applicable to fair value measurement during the annual reporting period beginning after January 1, 2022.

－－ 9

The amendments to IFRS 1 are retrospectively applied to the annual reporting period beginning after January 1, 2022.

Note 6: The Group shall apply these amendments retrospectively for annual reporting periods beginning on or after January 1, 2023.
Note 7: The Group applies to changes in accounting estimates and changes in accounting policies that occur during the annual reporting period beginning on January 1, 2023.
A. Amendments for IAS 1 “Classification of Liabilities as Current or Noncurrent” The amendments clarifies that when the Group judges whether liability is classified as noncurrent, the Group should assess whether the Group has the right to defer liquidation period after the reporting period at least twelve months. If the Group has the entity’s right on the end of the reporting period, liability must be classified as non-current whatever the Group expects whether executing the right or not. If the Group must follow certain condition to obtain the right to defer settlement of liability, the Group must have completed certain condition on the end of reporting period even if lender tests the Group whether following certain condition later. The aforementioned liquidation means that transferring cash, other economic resources or the Group’s equity instruments to counterparty to let liability wipe out. If liability clause will follow counterparty’s choice to liquidate liability by the Group’s equity instruments, this option must follow the regulations of IAS 32 “Financial Instruments: Presentation” to be recognized in equity individually and doesn’t have affect on the classification of liability.
B. Amendment to IAS 16 “Property, Plant and Equipment: Proceeds before Intended Use” The amendment stipulates that the sales price of the project produced in order to make property, plant and equipment reach the necessary location and state that can meet the expected operation mode of the management is not suitable as a cost reduction of the asset. The aforementioned items should be measured in accordance with IAS 2 “Inventory”, and the sales price and cost should be recognized in profit and loss in accordance with the applicable standards.
This amendment is applicable to factories, property and equipment that reach the necessary locations and conditions for the management's expected operation mode after January 1, 2021 (the beginning of the earliest expression period). When the Group initially applies the amendments, it will recognize the cumulative effect of the amendments applied initially as an adjustment to the opening balance of the retained earnings (or other components of equity, as appropriate) at the beginning of the earliest expression period , and re-edit the information during the comparison period.
C. Amendment to IAS 37 “Onerous Contract - Cost of Fulfilling a Contract” The amendment stipulates that when assessing whether the contract is onerous, “Cost of Fulfilling a Contract” should include the incremental cost of fulfilling a contract (for example, direct labor and raw materials) and the allocation of other costs directly related to fulfilling a contract (for example, the depreciation expenses of property, plant and equipment items used in fulfilling a contract are allocated).
The Group will recognize the cumulative effect on the retained earnings on the first application date when the amendment is first applied.
D. Amendment to IFRS 3“Reference to the Conceptual Framework”
The amendment is to update the index of the conceptual framework and add the requirement that the acquirer shall apply IFRIC 21“Levies”to determine whether there is an obligation to pay levies on the acquisition date.

－－ 10

E. Annual Improvements to IFRS Standards 2018-2020
The annual improvement in the IFRS 2018-2020 includes amendments to certain standards. Among them, the amendment of IFRS 9 “Expenses included in the “10%” test for the purpose of derecognize financial liabilities” is to assess whether there is a significant difference between the swap of financial liabilities or the modification of terms, When comparing cash flow projections of the new and old contract terms (including the net amount of fees charged for signing a new contract or modifying the contract), whether there is a 10% difference, the aforesaid fees collected should only include the payment between the borrower and the lender paid for.
F. Amendments to IAS 1 ‘’Disclosure of Accounting Policies’’
This amendment clarifies that when the scale or nature of a transaction, other event or situation is material, and the relevant accounting policy information is also material to the financial report, the relevant material accounting policy information should be disclosed. Conversely, if the enterprise determines that the scale or nature of a transaction, other event or situation is not significant or the relevant accounting policy information is not significant although it is significant, it does not need to disclose nonsignificant accounting policy information, but the enterprise prepares accounting the conclusion that the policy information is insignificant does not affect the relevant disclosures required by other IFRS standards.
G. Amendments to IAS 8 ‘’Definition of Accounting Estimates’’
This amendment defines accounting estimates as the monetary amount of financial statements subject to measurement uncertainty, and provides further explanations, except for corrections due to errors in the previous period, the impact of changes in input values or measurement techniques on accounting estimates is a change in accounting estimates.

As of the date the consolidated financial statements were issued, the Group continues in evaluating the impact on its financial position and financial performance as a result of the initial adoption of the aforementioned standards or interpretations and related applicable period. The related impact will be disclosed when the Group completes the evaluation.

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Except for the following, the accounting policies applied in these consolidated financial statements are consistent with those applied in the consolidated financial statements for the year ended December 31, 2020. These policies have been consistently applied to all the periods presented, unless otherwise stated.

4.1 Statement of Compliance

The accompanying consolidated financial statements have been prepared in conformity with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and IAS 34, “Interim Financial Reporting,” endorsed and issued into effect by the FSC. The consolidated financial statements should be read with the consolidated financial statements for the year ended December 31, 2020.

4.2 Basis of Preparation

(1) Except for the following items, the consolidated financial statements have been prepared under the historical cost convention:
A. Financial assets and financial liabilities at fair value through profit or loss (including derivative instruments).
B. Financial assets measured at fair value through other comprehensive income.

－－ 11

C. Liabilities on cash-settled share-based payment arrangements measured at fair value.
D. Defined benefit liabilities recognized based on the net amount of pension fund assets less present value of defined benefit obligation.
(2) The preparation of the consolidated financial statements in conformity with the IFRSs requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 5.

4.3 Basis of Consolidation

(1) The basis for the consolidated financial statements:
A. All subsidiaries are included in the Group’s consolidated financial statements. Subsidiaries are all entities (including structured entities) controlled by the Group. The Group controls an entity when the Group 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. Consolidation of subsidiaries begins from the date the Group obtains control of the subsidiaries and ceases when the Group loses control of the subsidiaries.
B. Inter-company transactions, balances and unrealized gains or losses on transactions between companies within the Group are eliminated. Accounting policies of subsidiaries have been adjusted where necessary to ensure consistency with the policies adopted by the Group.
C. Profit or loss and each component of other comprehensive income are attributed to the owners of the parent and to the non-controlling interests. Total comprehensive income is attributed to the owners of the parent and to the noncontrolling interests even if this results in the non-controlling interests having a deficit balance.
D. Changes in a parent’s ownership interest in a subsidiary that do not result in the parent losing control of the subsidiary (transactions with non-controlling interests) are accounted for as equity transactions, i.e. transactions with owners in their capacity as owners. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognized directly in equity.
E. When the Group loses control of a subsidiary, the Group remeasures any investment retained in the former subsidiary at its fair value. That fair value is regarded as the fair value on initial recognition of a financial asset or the cost on initial recognition of the associate or joint venture. Any difference between fair value and carrying amount is recognized in profit or loss. All amounts previously recognized in other comprehensive income in relation to the subsidiary are reclassified to profit or loss or transferred directly to retained earnings as appropriate, on the same basis as would be required if the related assets or liabilities were disposed of. That is, when the Group loses control of a subsidiary, all gains or losses previously recognized in other comprehensive income in relation to the subsidiary should be reclassified from equity to profit or loss, if such gains or losses would be reclassified to profit or loss when the related assets or liabilities are disposed of.

－－ 12

(2) The subsidiaries in the consolidated financial statements:

Investee / Subsidiary	Main Businesses	P	ercentage ofOwnership	ercentage ofOwnership
		March31,2021	December31,2020 100.00% 100.00% 100.00% 57.41% 54.55% 50.12% 100.00% 100.00% 100.00% 86.99% 89.66% 78.51% 99.04% 95.56% 80.00% 80.00% 100.00% 47.88% 10.00% 75.00% 19.00% 100.00% 7.48%	March31,2020
		100.00% 100.00% 100.00% 57.41% 54.55% 50.12% 100.00% 100.00% 100.00% 86.99% 89.66% 78.51% 99.04% 95.56% 80.00% 80.00% 100.00% 47.88% 10.00% 75.00% 19.00% 100.00% 7.48%		100.00% 100.00% 100.00% 57.36% 41.18% 50.12% 100.00% 100.00% 100.00% 86.99% 89.66% 78.10% 99.04% 95.56% 80.00% 80.00% 100.00% 47.88% 10.00% 75.00% 19.00% 100.00% 7.48%

－－ 13

		Percentage ofOwnership	Percentage ofOwnership
Investee / Subsidiary	Main Businesses	March31,2021	December31,2020	March31,2020
4. Yieh Phui (Hong Kong) Holdings Limited
Yieh Phui (China)	Manufacturing and	100.00%	100.00%	100.00%
Technomaterial Co.,	marketing of pickled,
Ltd.	cold rolled,
	galvanized and
	prepainted steel coils
5. Yieh Phui (China) Technomaterial Co., Ltd.
Tianjin Lianfa	Manufacturing and	100.00%	100.00%	100.00%
Precision	marketing of special
Steel Corporation	high grade alloy
Changshou ChangHuei	Trading of steel	100.00%	100.00%	100.00%
Trading Co.	products
6. EMMT Systems Corporation
Applied Wireless	RFID	91.47%	91.47%	91.47%
Identifications Group,
Inc.
Groupco Technology	Radio	49.97%	49.97%	49.97%
Inc.
7. Applied Wireless Identifications Group, Inc.
AWID Asia Co., Ltd.	Telecommunications	100.00%	100.00%	100.00%
	equipment wholesale
8. AWID Asia Co., Ltd.
AWID Shanghai Co.,	Telecommunications	-	-	100.00%
Ltd.	equipment
	wholesaling
		(Please refer to Note 4.3. (2) (A) for		details)
AWID Changshou Co.,	Telecommunications	100.00%	100.00%	100.00%
Ltd.	equipment
	wholesaling
9. Shin Phui Steel Corporation
Groupco Technology	Radio	42.53%	42.53%	42.53%
Great Emperor Hotel	Hotel industry	0.01%	0.01%	0.01%
Co., Ltd.
Kings Garden	Leasing, sales, and	0.01%	0.01%	0.01%
International Co., Ltd.	development of
	residential and
	commercial buildings,
	and department stores
10. Yieh Hsing Enterprise	Co., Ltd.
Great Emperor Hotel	Hotel industry	45.44%	45.44%	58.81%
Co., Ltd.
Kings Garden	Leasing, sales, and	49.87%	49.87%	49.87%
International Co., Ltd.	development of
	residential and
	commercial buildings,
	department stores
11. Kings Garden International Co., Ltd.
Yi Hua International	Leasing, selling and	70.00%	70.00%	70.00%
Co., Ltd.	development of
	residential and
	commercial buildings
Hua Li International	Wholesale of daily	100.00%	100%	100.00%
Co., Ltd.	necessities and
	cosmetics

－－ 14

Investee / Subsidiary	Main Businesses	P	ercentage ofOwnership	ercentage ofOwnership
		March31,2021	December31,2020 100.00% 10.34% 52.12% 90.00% 100.00% 25.00% 81.00%	March31,2020
		100.00% 10.34% 52.12% 90.00% 100.00% 25.00% 81.00%		100.00% 10.34% 52.12% 90.00% 100.00% 25.00% 81.00%

(Note): Due to legal restriction within the local jurisdiction, 25% shareholding of Lien-Heng Mining Co., Ltd. and 51% shareholding of Lien-Hung Mining Co., Ltd. are registered temporarily under the name of a third-party; in order that the rights be secured, the third-party has pledged all shares under his/her name to the Group through a contract agreement.
A. Increase and decrease in consolidated subsidiaries:

AWID Shanghai Co., Ltd. had gone through liquidation in July 2020.

B. Except for Yieh Hsing Enterprise Co., Ltd., Kings Garden International Co., Ltd., Great Emperor Hotel Co., Ltd., Yieh Phui (Hong Kong) Holdings Limited, and Yieh Phui (China) Technomaterial Co., Ltd., the financial statements of subsidiaries consolidated above were not reviewed.
(3) Subsidiaries not consolidated in the consolidated financial statements: None.
(4) Adjustments for subsidiaries with different accounting periods: None.
(5) Major restrictions:
As of March 31, 2021, December 31, 2020, and March 31, 2020, cash and bank deposits of $2,418,214 thousand, $2,242,530 thousand, and $2,154,257 thousand, respectively are deposited in China and subject to the local foreign exchange control. Such foreign exchange control restricts fund remitting out from China (except for regular dividends).
(6) Securities issued by the parent company and held by subsidiaries: None.
(7) Information about subsidiaries with significant non-controlling interests: March 31, 2021：

Name of Subsidiary Yieh Hsing Enterprise Co., Ltd. Others Total	Shareholding % 42.59%	Non-controlling interests $984,762 379,538 $1,364,300

－－ 15

December 31, 2020： Name of Subsidiary Shareholding % Yieh Hsing Enterprise Co., Ltd. 42.59% Others Total March 31, 2020： Name of Subsidiary Shareholding % Yieh Hsing Enterprise Co., Ltd. 42.64% Others Total	Non-controlling interests
	$977,330 384,573
	$1,361,903
	Non-controlling interests
	$1,087,869 391,135
	$1,479,3004

Please refer to Table 9 and Table 10 in Note 13 for the main operation location and countries of registration of the subsidiaries listed above.

A. Summary of the financial information are as follows:

a. Balance Sheets:

Current assets Non-current assets Current liabilities Non-current liabilities Equity	Yieh HsingEnterprise Co.,Ltd. and its Subsidiaries March 31, 2021 December 31,2020 March 31, 2020 $2,413,550 $2,457,761 $2,638,997 10,433,777 10,481,456 15,863,840 3,035,318 2,929,969 3,000,364 2,369,997 2,584,687 8,659,543 $7,442,012 $7,424,561 $6,842,930	Yieh HsingEnterprise Co.,Ltd. and its Subsidiaries March 31, 2021 December 31,2020 March 31, 2020 $2,413,550 $2,457,761 $2,638,997 10,433,777 10,481,456 15,863,840 3,035,318 2,929,969 3,000,364 2,369,997 2,584,687 8,659,543 $7,442,012 $7,424,561 $6,842,930
	March 31, 2021 $2,413,550 10,433,777 3,035,318 2,369,997 $7,442,012	December 31,2020 $2,457,761 10,481,456 2,929,969 2,584,687 $7,424,561

b. Statements of Comprehensive Income：

b. Statements of Comprehensive Income：
Operating revenue Net income (loss) Other comprehensive income (loss) (net after tax) Total comprehensive income (loss) Total comprehensive income (loss) attributable to non-controlling interests Dividends paid to non-controlling interests	Yieh Hsing Enterprise Co., Ltd. and its Subsidiaries
	Three Months Ended March 31
	2021 $1,672,594 $18,194 (729) $17,465 $7,438 $ -	2020
		$1,496,494
		$ (194,214) (808)
		$ (195,022)
		$ (81,829)
		$ -

－－ 16

c. Statements of Cash Flows：

Yieh Hsing Enterprise Co., Ltd. and its Subsidiaries

Net cash provided by (used in) operating activities Net cash provided by (used in) investing activities Net cash provided by (used in) financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents, beginning of the period Cash and cash equivalents, end of the period

Yieh Hsing Enterprise Co., Ltd. and its Subsidiaries	Yieh Hsing Enterprise Co., Ltd. and its Subsidiaries
Three Months Ended March 31
2021 $76,955 (2,254) (48,878) 25,823 208,795 $234,618	2020
	$23,005 (854,724) 688,078
	(143,641) 458,375
	$314,734

4.4 Retirement benefits

The pension cost for an interim period is calculated on a year-to-date basis by using the actuarially determined pension cost rate at the end of the prior financial year, adjusted for significant market fluctuations since that time and for significant plan amendments, settlements, or other significant one-off events.

4.5 Income taxes

Income tax expense represents the sum of current tax and deferred tax. Interim period income taxes are assessed on an annual basis and calculated by applying to an interim period’s pre-tax income the tax rate that would be applicable to expected total annual earnings. The effect of a change in tax rate resulting from a change in tax law is recognized consistently with the accounting for the transaction itself which gives rise to the tax consequence, and this is recognized in profit or loss, other comprehensive income or directly in equity in full in the period in which the change in tax rate occurs.

5. CRITICAL ACCOUNTING JUDGMENTS, ESTIMATES AND KEY SOURCES OF ASSUMPTION UNCERTAINTY

The same critical accounting judgments and key sources of estimates and uncertainty have been followed Note 5 in these consolidated financial statements as those applied in the preparation of the consolidated financial statements for the year ended December 31, 2020.

6. DETAILS OF SIGNIFICANT ACCOUNTS

Except for the following, please refer to Note 6 to the consolidated financial statements for year ended December 31, 2020.

6.1 Cash and cash equivalents

Item Cash on hand Checking account Demand deposits Time deposits (with original maturities within three months) Total	March 31,2021 $10,689 618,237 3,691,057 54,000 $4,373,983	December 31,2020 $7,995 696,295 2,903,492 123,000 $3,730,782	March 31,2020
			$6,208 710,076 3,653,399 41,555
			$4,411,238

－－ 17

1.The financial institutions dealing with the Group are credit worthy, and the Group’s transactions with a number of financial institutions to diversify credit risk are unlikely to be expected to default.
2.The Group had no cash and cash equivalents pledged to others.

6 . 2 Financial assets at fair value through profit or loss

Item Financial assets - current: Non-derivative financial assets mandatorily measured at FVTPL Mutual funds Domestic unlisted preferred stocks Derivatives Cross currency swap contracts Total Financial assets - noncurrent: Non-derivative financial assets mandatorily measured at FVTPL Domestic unlisted preferred stocks Financial bonds Total Financial liabilities - current: Derivatives Forward exchange contracts Exchange interest rate swap contracts Total	March 31, 2021 $58,315 284,610 - $342,925 $ - - $- $18,535 - $18,535	December 31, 2020 $35,327 662,651 - $697,978 $ - - $- $14,237 258 $14,495	March 31, 2020
			$39,277 378,340 4,337
			$421,954
			$281,002 9,875
			$290,877
			$ - -
			$-

1.The Group had no financial assets at fair value through profit or loss pledged to others.
2.Please refer to Note 12(3) for credit risk management and evaluation method.
3.The Group enters derivatives to hedge exchange rate risk of assets denominated in foreign currencies. However, as the Group does not plan on adopting hedge accounting, those contracts are accounted for as financial instruments at fair value through profit or loss upon initial recognition. Outstanding contracts are as follows:
A. Exchange interest rate swap contracts:
- March 31, 2021：None

December 31, 2020：

Nominal principal Charge variable Contract period Interest rate paid (thousand yuan) interest rate USD 10,000 April 22, 2020 to 0.6% LIBOR 3 months March 29, 2021

March 31, 2020：None

－－ 18

B. Forward foreign exchange contracts: March 31, 2021：

B. Forward foreign exchange contracts: March 31, 2021：
Currency Contract Period USD(BUY) RMB(SELL) July 6, 2020 to July 15, 2021 December 31, 2020： Currency Contract Period EUR(BUY) RMB(SELL) April 3, 2020 to January 19, 2021 USD(BUY) RMB(SELL) July 6, 2020 to July 15, 2021 March 31, 2020：None	Execution Rate 6.9998-7.11 Execution Rate 7.6782-8.00 6.9998-7.11	Contract Amount (in thousands)
		USD 10,000 Contract Amount (in thousands)
		EUR 4,300 USD 10,000

C. Cross currency swap contracts:

March 31, 2021：None December 31, 2020：None March 31, 2020：

Currency USD(SELL) RMB(BUY)	Contract Period April 9, 2019 to June 24, 2020	Contract Amount (in thousands) USD 10,000 RMB 68,335	Paid Interest Rate Range	Received Interest Rate Range
			6.45%-7.21%	LIBOR+4.15%

6.3 Notes receivable, net

Notes receivable, net
Item At amortized cost Notes receivable Less: Loss allowance Net	March 31,2021 $424,987 (109) $424,878	December 31,2020 $572,859 (109) $572,750	March 31,2020
			$684,695 (152)
			$684,543

As of March 31, 2021, December 31, 2020, and March 31, 2020, the Group pledged part of its notes receivable as collateral for its borrowings. Please refer to Note 8.
Please refer to Note 7.3.5 for accounts receivable with related parties
Please refer to Note 6.4 for the relevant disclosure of loss allowance for notes receivable.
The Group has transferred the endorsement of the bank acceptance bills of the Mainland to the suppliers to pay the accounts payable. As the risks and rewards of the notes have been transferred, the Group has derecognized the bank acceptance bills and the corresponding accounts payable. The suppliers still have the right to request the Group to settle the payment if the outstanding bank acceptance notes are not fulfilled at the end of the period. Therefore, the Group continues to participate in the notes. The Group’s maximum loss of the continued involvement in the derecognized bank acceptance bills is the amount of bank acceptance bills that have been transferred but not yet matured. As of March 31, 2021, December 31, 2020, and March 31, 2020, the balances were RMB 293,886 thousand, RMB 191,122

－－ 19

thousand, and RMB 285,913 thousand, respectively. These notes will expire within 1~12 months after the balance sheet date. In consideration of the credit risk of the bank acceptance bills, the Group’s assessment of the fair value of its continuing involvement is not significant. The Group did not recognise any gains and losses on the transfer of the bank’s acceptance for the three months ended March 31, 2021 and 2020.

6.4 Accounts receivable, net

Item At amortized cost Accounts receivable Less: Loss allowance Net	March 31,2021 $2,097,409 (5,202) $2,092,207	December 31,2020 $1,866,089 (5,204) $1,860,885	March 31,2020
			$1,720,640 (22,797)
			$1,697,843

A. The Group’s accounts receivables of sales of goods. The average credit period varies: 30~60 days for Carbon Steel Department, and interest-bearing deferred payment is allowed upon mutual agreement; 7~26 days for the sale of steel products; agreed days for the Engineering Department based on the contractual terms; and 60~90 days for other departments based on encounter parties’ industry characteristics, operation scale and profit status.
B. For the information about the Group’s accounts receivable pledged as collateral, please refer to Note 8 for details.
C. The Group factored part of its accounts receivables to banks without recourse. The Group had already transferred substantially all risks and rewards upon factoring the accounts receivables, which were thereby derecognized from the balance sheet. Please refer to Note 12 (5) for related information.
D. The Group applies the simplified approach to provisions for expected credit losses prescribed by IFRS 9, which permits the use of a lifetime expected credit losses provision for trade receivables. The expected credit losses on trade receivables are estimated by reference to past account aging records of the debtor, an analysis of the debtor’s current financial position, industrial trend, which receivables are past due. As the Group’s historical credit losses experience does not show significantly different loss patterns for different customer segments, the provision for losses based on past due status of receivables is not further distinguished between the Group’s different customer base.

The Group writes off a trade receivable when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery of the receivable. For trade receivables that have been written off, the Group continues to engage in enforcement activity to attempt to recover the receivables which are due. Where recoveries are made, these are recognized in profit or loss. The Group measured the allowance for notes receivable and accounts receivable according to the preparation matrix (including related parties)：

March 31, 2021 Not past due	Expected credit loss rate 0%-0.5%	Gross carrying amount $2,690,546	Allowance for doubtful accounts (ECL) $(5,980)	Amortized cost
				$2,684,566

－－ 20

December 31, 2020 Not past due March 31, 2020 Not past due Past due over 1 year Total	Expected credit loss rate 0%-0.5% Expected credit loss rate 0%-0.5% 100%	Gross carrying amount $2,625,420 Gross carrying amount $3,332,794 19,237 $3,352,031	Allowance for doubtful accounts (ECL) $(5,982) Allowance for doubtful accounts (ECL) $(4,955) (19,237) $(24,192)		Amortized cost $2,619,438 Amortized cost


					$3,327,839 -
					$3,327,839

Movements of the loss allowance for notes receivable and accounts receivable (including related parties) were as follows:

Beginning balance Add: Provision for impairment Less: Write-offs Impact of foreign exchange differences Ending balance	Three Months Ended March 31	Three Months Ended March 31
	2021 $5,982 3 - (5) $5,980	2020
		$26,640 235 (149) (534)
		$24,192

As of March 31, 2021, December 31, 2020, and March 31, 2020, the above provision had already taken into consideration of collateral or other credit enhancement. The other credit enhancement (e.g., banker’s acceptance and L/C) possessed by above receivables were $2,014,589 thousand, $1,724,005 thousand, and $1,986,856 thousand, respectively.

Please refer to Note 12(3) for the relevant credit risk management and assessment.

6.5 Other receivables

Item Business tax refundable Purchase allowance receivable Interest receivable Dividend receivable Others Total Less: Loss allowance Net	March 31,2021 $121,242 11,336 914 1,581 14,422 $149,495 - $149,495	December 31,2020 $114,141 - 967 - 17,100 $132,208 - $132,208	March 31,2020
			$72,425 15,228 3,087 - 15,239
			$105,979 -
			$105,979

－－ 21

6.6 Inventories and operating cost

Item Steel Department and other Non-heavy Industry Department: Raw materials Supplies Work in progress Finished goods Process product By-products and scraps Subtotal Less: Valuation allowance Net Heavy Industry Department: Raw materials Supplies Subtotal Less: Valuation allowance Net Total	March 31,2021 $3,910,160 423,546 1,676,126 4,587,748 18,065 178,322 10,793,967 (222,565) 10,571,402 97,703 2,882 100,585 (96) 100,489 $10,671,891	December 31,2020 $3,841,296 427,821 1,051,510 3,177,809 - 176,022 8,674,458 (244,928) 8,429,530 99,989 3,006 102,995 (418) 102,577 $8,532,107	March 31,2020 $3,541,150 424,222 939,747 3,481,303 - 138,967 8,525,389 (283,674) 8,241,715 95,785 5,298 101,083 (3,606) 97,477 $8,339,192

1.Inventory gains (losses) recognized as cost of sales were as follows:

1.Inventory gains (losses) recognized as cost of	sales were as follows:	sales were as follows:
Item Cost of inventories sold Construction cost Unallocated manufacturing overhead Purchase and construction contract loss (recovery gain) Inventory valuation loss and obsolescence loss (recovery gain) Impact of foreign exchange difference Total operating expenses	Three Months Ended March 31
	2021 $16,557,196 145,198 16,660 (1,245) (22,685) 496 $16,695,620	2020
		$11,490,049 348,607 39,480 10,731 (132,259) 266
		$11,756,874

2.The Group recognized inventory valuation loss (recovery gain) of $22,685 thousand and $132,259 thousand for the three months ended March 31, 2021 and 2020, respectively, due to inventory’s write-down to net realizable value, or the net realizable value of inventories recovered as a result of market stabilization that enabled the Group to raise prices on certain products.
3.The Group has no inventories pledged to others.

－－ 22

6.7 Prepayments Item Prepaid material purchase Prepaid (overpaid) sales tax Prepaid insurance Prepaid sea freight Prepaid syndicated loan arrangement fee Other prepayments Total	March 31,2021 $1,521,616 815,554 45,522 - - 36,440 $2,419,132	December 31,2020 $2,688,591 661,438 74,113 26,479 15,100 58,439 $3,524,160	March 31,2020
			$1,154,546 772,618 35,557 62,061 - 45,589
			$2,070,371

1.Prepaid syndicated loan arrangement fee was paid to lead bank of syndicated loan. In December 2020, the Group entered a syndicated loan agreement with 9 joint lending banks including Megabank, with a credit line of $4.5 billion, The syndicated loan agreement was first actually drawn in January 2021 and the arrangement fee was transfer to long-term loans deductions.
Please refer to Note 7.3.7. for prepayments with related parties.

6.8 Noncurrent assets held for sale / Liabilities directly associated with noncurrent assets held for sale

assets held for sale
Item	March 31,2021	December 31,2020	March 31,2020
Noncurrent assets held for sale	$14,673	$160,114	$15,129
Less：Accumulated
impairment	-	-	-
Net	$14,673	$160,114	$15,129
Liabilities directly associated
with noncurrent assets held	$ 16,533	$70,070	$5,100
for sale

As stated in Note 9.10, In March 2021, the Group entered into a contract to sell part of buildings and structures in Changshu Economic and Technological Development Zone. The total contract price was RMB4,220 thousand, and the disposal was expected to be completed within 12 months. As of March 31, 2021, RMB3,800 thousand have been collected.
In December 2020, the Group entered into a contract to sell part of land in Pingnan Section, Fangliao Township, Pingtung County. The total contract price was $699,980 thousand, In January 2021, the ownership transfer was completed in accordance with the scheduled payment terms as stipulated in the contract.
In March 2020, the Group entered into a contract to sell part of Land in Pingbei Section, Jiadong Township, Pingtung County. The contract price is $51,000 thousand, In July 2020, the ownership transfer was completed in accordance with the scheduled payment terms as stipulated in the contract.
Please refer to Note 8 for the information of noncurrent assets held for sale pledged as collateral.

－－ 23

6.9 Other financial assets - current

Item Time deposits over three months Pledged demand deposits Pledged time deposits Total	March 31,2021 $27,501 622,846 332,626 $982,973	December 31,2020 March 31,2020 $30,395 $26,715 644,677 451,093 132,774 706,776 $807,846 $1,184,584

6.10 Financial assets at fair value through other comprehensive income or loss - noncurrent

Item Equity instruments： Domestic listed stocks Domestic unlisted stocks Subtotal Valuation adjustment Total	March 31,2021 $45,000 559,094 $604,094 66,330 $670,424	December 31,2020 $45,000 587,102 $632,102 93,232 $725,334	March 31,2020
			$45,000 560,182
			$605,182 25,968
			$631,150

The Group invests in domestic listed and unlisted stocks in accordance with its medium/long-term strategies and expects to make a profit through long-term investment. Management of the Group believes that it is not consistent with the afore mentioned long-term investment planning if the short-term fair value changes of such investment are presented in profit or loss. Therefore, the Group elects to designate such investment as to be measured at FVTOCI.
For related credit risk management and means of assessing, please refer to Note 12(3).
As of March 31, 2021, December 31, 2020, and March 31, 2020, the Group had no financial assets at FVTOCI pledged as collateral.

6.11 Investments accounted for using equity method

Investee Associates: Associates with significance: Eliter International Corp. E-Da Development Corp. Tangeng Iron Works Co., Ltd. Yieh United Steel Corp. Associates without significance Total	March 31,2021 $3,844,736 1,326,577 3,928,612 3,220,646 1,947,384 $14,267,955	December 31,2020 $3,515,714 1,351,328 3,910,332 3,131,828 1,954,811 $13,864,013	March 31,2020
			$3,516,251 1,412,094 3,925,775 3,570,445 1,812,295
			$14,236,860

－－ 24

1.Associates:

(1)Major associates of the Group were as follows:

CompanyName Eliter International Corp. E-Da Development Corp. Tangeng Iron Works Co., Ltd. Yieh United Steel Corp.	ShareholdingPercentage	ShareholdingPercentage
	March 31,2021 December 31,2020 43.56% 43.56% 34.38% 34.38% 31.16% 31.16% 30.51% 30.51%	March 31,2020
		43.56% 34.38% 31.16% 30.43%

Please refer to Table 9 and Table 10 in Note 13 for the nature of business, main operation location and countries of registration of the associates listed above.

(2)The summarized financial information in respect of the Group’s major associates was as follows:

A. Balance Sheets

was as follows: A. Balance Sheets
Item Current assets Noncurrent assets Current liabilities Noncurrent liabilities Equity Share of net assets of associates Unrealized gain (loss) from transactions with associates Carrying amount of associate Item Current assets Noncurrent assets Current liabilities Noncurrent liabilities Equity Share of net assets of associates Unrealized gain (loss) from transactions with associates Carrying amount of associate	Eliter International Corp.
	March 31,2021 December 31,2020 March 31,2020 $6,997,345 $7,219,188 $6,895,126 5,250,861 4,963,316 5,158,843 2,208,835 2,693,464 1,584,635 1,065,217 1,273,422 2,260,023 $8,974,154 $8,215,618 $8,209,311 $3,907,411 $3,578,420 $3,578,974 (62,675) (62,706) (62,723) $3,844,736 $3,515,714 $3,516,251 E-Da Development Corp.
	March 31, 2021 $711,155 7,880,639 790,728 3,918,366 $3,882,700 $1,334,188 (7,611) $1,326,577	December 31, 2020 $605,393 7,974,851 886,455 3,741,418 $3,952,371 $1,358,987 (7,659) $1,351,328	March 31, 2020
			$556,869 8,035,804 744,861 3,725,964
			$4,121,848
			$1,419,899 (7,805)
			$1,412,094

－－ 25

	TangengIron Works Co.,Ltd.	TangengIron Works Co.,Ltd.	TangengIron Works Co.,Ltd.
Item	March 31,2021	December 31,2020	March 31,2020
Current assets	$3,142,218	$3,180,884	$3,224,953
Noncurrent assets	23,571,659	23,623,947	23,689,761
Current liabilities	2,259,092	2,439,751	3,580,840
Noncurrent liabilities	11,846,107	11,815,071	10,734,302
Equity	$12,608,678	$12,550,009	$12,599,572
Share of net assets of associates	$3,928,612	$3,910,332	$3,925,775
Unrealized gain (loss) from
transactions with associates	-	-	-
Carrying amount of associate	$3,928,612	$3,910,332	$3,925,775
	Yieh United Steel Corp.
Item	March 31,2021	December 31,2020	March 31,2020
Current assets	$8,770,715	$8,876,058	$6,790,418
Noncurrent assets	34,763,233	35,131,909	36,217,356
Current liabilities	21,632,862	21,887,485	23,019,886
Noncurrent liabilities	11,109,134	11,607,523	8,057,328
Equity	$10,791,952	$10,512,959	$11,930,560
Share of net assets of associates	$3,292,853	$3,204,035	$3,642,652
Unrealized gain (loss) from transactions with associates	(72,207)	(72,207)	(72,207)
Carrying amount of associate	$3,220,646	$3,131,828	$3,570,445
B. Statements of Comprehensive Income
		Eliter International Corp.
		ThreeMonthsEndedMarch31
		2021	2020
Operating revenue		$31,421	$179,083
Net income (loss)		(41,464)	(54,323)
Other comprehensive income	(loss) (net after tax)	-	-
Total comprehensive income	(loss)	$ (41,464)	$ (54,323)
Dividends received from associate		$-	$-
		E-Da Development Corp.
		Three Months Ended March 31
		2021	2020
Operating revenue		$171,584	$135,876
Net income (loss)		(56,860)	(109,309)
Other comprehensive income	(loss) (net after tax)	(12,811)	(3,638)
Total comprehensive income	(loss)	$ (69,671)	$ (112,947)
Dividends received from associate		$ -	$ -

－－ 26

Tangeng Iron Works Co., Ltd.

	TangengIron Works Co., Ltd.	TangengIron Works Co., Ltd.
	Three Months Ended March 31
	2021	2020
Operating revenue	$3,064,472	$2,840,295
Net income (loss)	55,885	(528,117)
Other comprehensive income (loss) (net after tax)	2,784	(13,050)
Total comprehensive income (loss)	$58,669	$ (541,167)
Dividends received from associate	$ -	$ -
	Yieh United Steel Corp.
	Three Months Ended March 31
	2021	2020
Operating revenue	$10,147,968	$8,444,481
Net income (loss)	285,428	(763,847)
Other comprehensive income (loss) (net after tax)	(6,991)	41,303
Total comprehensive income (loss)	$278,437	$(722,544)
Dividends received from associate	$ -	$ -

(3)Shares of individually insignificant associates of the Group were summarized as follows:

follows:
	Three Months Ended	March 31
	2021	2020
Share of:
Net income(loss)	$4,246	$(10,682)
Other comprehensive income (loss) (net after tax)	(11,672)	2,469
Total comprehensive income (loss)	$(7,426)	$(8,213)

(4)Associates of the Group with quoted prices in active market (Level 1 fair value inputs) were as follow:

Yieh United Steel Corp. (Note) Tangeng Iron Works Co., Ltd. Total	March 31,2021 $3,733,632 3,893,192 $7,626,824	December 31,2020 $4,983,188 4,220,351 $9,203,539	March 31,2020 $3,151,964 4,187,635 $7,339,599

(Note): The fair value information above did not include shares acquired through private placement, which were not allowed to be transferred freely in open markets.

－－ 27

(5)For Skylark Hot Spring & Resort Corp., E-Da Tour Bus Corporation, E-Da Bus Transportation Co., Ltd., and E-Da Entertainment Co., the Group has significant influence over which as a result of being a director in such entities. Consequently, those entities are accounted for using equity method.
(6)After considering the amount and distribution of other shareholders which are not extremely dispersed, the Group is not able to lead the company’s activities. Thus, the Group has no control even though it holds 38%, 45%, 43.56%, 34.38% and 30.51% of E-Da Health Biotechnology Co., Ltd., Zheng Xin Security Co., Ltd., Eliter International Corp., E-Da Development Corp., and Yieh United Steel Corp. and is the single largest shareholder. The management believes the Group only had significant impact to these companies, so classified them as the associates.
(7)The Group participated in the private placement of Yieh United Steel Corp. in February, 2017, and December, 2015, and subscribed at $7 per share, with the total subscription amount of $204,876 thousand and $1,100,400 thousand, totaling $1,305,276 thousand. Pursuant to the Securities and Exchange Act, securities from private placement can only be traded freely in the open markets when they are held for three years from the delivery date and the issuer has to complete the supplementary procedures of public offering.
(8)Due to cross ownership and the adoption of equity method between the Group and Yieh United Steel Corp., an investee accounted for using equity method, investment gain (loss) is recognized using the treasury stock approach.
(9)All investments accounted for using equity method and the Group’s share of profit or loss and other comprehensive income in the investees are calculated based on the financial statements not reviewed by auditors.
(10)As of March 31, 2021, December 31, 2020, and March 31, 2020, the Group pledged part of its investments accounted for using equity method as collateral for its borrowings. Please refer to Note 8.

6.12 Property, Plant and Equipment

Item Land Buildings and structures Machinery Other equipment Equipment to be inspected and construction in progress Total cost Less: Accumulated depreciation Accumulated impairment Total	March 31,2021 $6,008,209 15,530,263 40,060,791 9,550,132 2,719,339 $73,868,734 (26,719,261) (321,077) $46,828,396	December 31,2020 $6,008,209 8,485,254 40,118,043 3,230,583 15,077,536 $72,919,625 (26,375,533) (322,012) $46,222,080	March 31,2020
			$6,008,209 8,463,952 36,184,928 3,261,186 15,865,259
			$69,783,534 (25,526,706) (483,789)
			$43,773,039

－－ 28

Cost	Land	Buildings and structures	Machinery	Other equipment	Equipment to be inspected and construction in progress	Total
	$6,008,209 - - - - - -	$8,485,254 1,415 - (33,157) (16,242) 7,101,769 (8,776)	$40,118,043 17,134 - (17,142) - 5,420 (62,664)	$3,230,583 43,140 - (42,280) - 6,327,121 (8,432)	$15,077,536 1,082,735 (185) - - (13,434,310) (6,437)	$72,919,625 1,144,424 (185) (92,579) (16,242) - (86,309)
Balance, January 1, 2021 Additions Transferred to expenses Disposals Transferred to noncurrent assets held for sale Reclassification Impact of foreign exchange differences Balance, March 31, 2021 Accumulated depreciation andimpairment
	$6,008,209	$15,530,263	$40,060,791	$9,550,132	$2,719,339	$73,868,734
	$ - - - - -	$ 4,020,095 59,634 (3,635) (1,569) (2,983)	$20,384,550 312,605 (14,840) - (20,857)	$2,114,707 63,211 (42,175) - (6,598)	$178,193 - - - -	$26,697,545 435,450 (60,650) (1,569) (30,438)
Balance, January 1, 2021 Depreciation Disposals Transferred to noncurrent assets held for sale Impact of foreign exchange differences Balance, March 31, 2021
	$ -	$4,071,542	$20,661,458	$2,129,145	$178,193	$27,040,338

Cost	Land	Buildings and structures	Machinery	Other equipment	Equipment to be inspected and construction in progress	Total
	$6,008,209 - - - - -	$8,480,633 1,443 - (726) - (17,398)	$34,700,290 12,271 - (6,523) 1,571,977 (93,087)	$3,280,289 38,367 - (39,513) 1,363 (19,320)	$16,386,255 1,103,274 (566) - (1,573,340) (50,364)	$68,855,676 1,155,355 (566) (46,762) - (180,169)
Balance, January 1, 2020 Additions Transferred to expenses Disposals Reclassification Impact of foreign exchange differences Balance, March 31, 2020 Accumulated depreciation and impairment
	$6,008,209	$8,463,952	$36,184,928	$3,261,186	$15,865,259	$69,783,534
	$ - - - -	$3,771,355 59,595 (232) (5,411)	$19,396,108 286,872 (3,934) (39,347)	$2,211,471 57,571 (39,114) (15,077)	$330,638 - - -	$25,709,572 404,038 (43,280) (59,835)

Reconciliations of current additions and the acquisition of property, plant and equipment in statement of cash flows were as follows:

Item Increase in property, plant and equipment Decrease (increase) in payables for purchase of equipment Cash paid for acquisition of property, plant and equipment	Three Months Ended March 31	Three Months Ended March 31
	2021 $1,144,424 (19,779) $1,124,645	2020
		$1,155,355 114,865
		$1,270,220

－－ 29

Please refer to Note 6.36 for details on the amount of capitalized borrowing costs.
Impairment of property, plant and equipment amounted to both $0 thousand for the three months ended March 31, 2021 and 2020.
For the information about property, plant and equipment pledged as collateral, please see Note 8 for details.
5.The Group’s land amounting to all $78,568 thousand as of March 31, 2021, December 31, 2020, and March 31, 2020 was unable to be registered under the name of the Group due to regulation restriction. Accordingly, the ownership was registered under the name of an individual with a mortgage registration as safeguard measures.

6.13 Lease Agreement

A. Right-of-use asset

6.13 Lease Agreement A. Right-of-use asset
Item March	31,2021 December	31,2020	March 31,2020
Land	$476,673	$486,602	$473,322
Building	37,980	37,907	39,069
Total cost	$514,653	$524,509	$512,391
Less: Accumulated depreciation	(32,393)	(28,511)	(19,618)
Accumulated impairment	-	-	-
Total	$482,260	$495,998	$492,773
Cost	Land	Building	Total
Balance at January 1, 2021	$486,602	$37,907	$524,509
Impact of foreign exchange differences	(9,929)	73	(9,856)
Balance at March 31, 2021	$476,673	$37,980	$514,653
Accumulated depreciation and
impairment
Balance at January 1, 2021	$17,507	$11,004	$28,511
Depreciation	2,483	1,413	3,896
Impact of foreign exchange differences	(41)	27	(14)
Balance at March 31, 2021	$19,949	$12,444	$32,393
Cost	Land	Building	Total
Balance at January 1, 2020	$503,019	$38,759	$541,778
Disposals	(623)	-	(623)
Impact of foreign exchange differences	(29,074)	310	(28,764)
Balance at March 31, 2020	$473,322	$39,069	$512,391
Accumulated depreciation and
impairment
Balance at January 1, 2020	$9,656	$6,026	$15,682
Depreciation	2,422	1,515	3,937
Impact of foreign exchange differences	(51)	50	(1)
Balance at March 31, 2020	$12,027	$7,591	$19,618

－－ 30

B. Lease liabilities

B. Lease liabilities
Item Carrying amount of lease liabilities - current - noncurrent	March 31,2021 $8,464 $72,062	December 31,2020 $8,419 $73,501	March 31,2020
			$7,822
			$79,677

The discount rate interval for lease liabilities was 1.9661%-2.4%. Please refer to Note 12(3) for lease liabilities with repayment periods.

C. Significant rent operating and clause

The Group rented land and buildings for operation. The lease terms range from 1 to 30 years. Part of the lease may be extended with its duration and is calculated based on the area of the land leased and the rate based on the announced land value of the current year. In accordance with the contract, without the lessor’s consent, the Group is not allowed to sublet the leased object to the third party. There was no sign of impairment of right-of-use assets, hence the Group didn’t assess the impairment as of March 31, 2021, December 31, 2020, and March 31, 2020.

D. Other lease information:

(1) The current lease relevant expense information was as follows:

Item Short-term lease expense Gross cash outflow (Note)	Three Months Ended March 31 2021 2020 $4,152 $5,739 $5,599 $6,899
	2021 $4,152 $5,599

(Note): Including principle paid for current lease liabilities.

E. For the information about right-of-use assets pledged as collateral, please see Note 8 for details.

6.14 Investment properties

6.14 Investment properties
Item Land Buildings Construction in progress Total cost Less: Accumulated depreciation Accumulated impairment Total	March 31,2021 $124,968 31,385 - $156,353 (1,602) (68,009) $86,742	December 31,2020 $124,968 47,006 - $171,974 (2,382) (68,009) $101,583	March 31,2020
			$591,272 45,994 41,208
			$678,474 (1,825) (68,009)
			$608,640

－－ 31

1.The movement of cost and accumulated depreciation and impairment of investment properties were as follows:

properties were as follows:	properties were as follows:	properties were as follows:
Land Cost Balance at January 1, 2021 $124,968 Disposals - Impact of foreign exchange differences - Balance at March 31, 2021 $124,968 Accumulated depreciation and impairment Balance at January 1, 2021 $68,009 Depreciation - Disposals - Impact of foreign exchange differences - Balance at March 31, 2021 $68,009 Land Cost Balance, January 1, 2020 $605,403 Additions - Transferred to noncurrent assets held for sale (14,131) Impact of foreign exchange differences - Balance, March 31, 2020 $591,272 Accumulated depreciation and impairment Balance, January 1, 2020 $68,009 Depreciation - Impact of foreign exchange differences - Balance, March 31, 2020 $68,009			Buildings $47,006 (15,471) (150) $31,385 $2,382 172 (943) (9) $1,602 Buildings Construction inprogress $46,281 $40,554 - 1,652 - (998) (287) - $45,994 $41,208 $1,667 $ - 170 - (12) - $1,825 $ -		Total
					$171,974 (15,471) (150)
					$156,353
					$70,391 172 (943) (9)
					$69,611
			Buildings		Total
		$605,403 - (14,131) -	$46,281 - - (287)	$40,554 1,652 (998) -	$692,238 1,652 (15,129) (287)
	Balance, January 1, 2020 Additions Transferred to noncurrent assets held for sale Impact of foreign exchange differences Balance, March 31, 2020 Accumulated depreciation and impairment
		$591,272	$45,994	$41,208	$678,474
		$68,009 - -	$1,667 170 (12)	$ - - -	$69,676 170 (12)
	Balance, January 1, 2020 Depreciation Impact of foreign exchange differences Balance, March 31, 2020
		$68,009	$1,825	$ -	$69,834

Please refer to Note 6.8 for details on noncurrent assets held for sale.

2. Rental revenue and direct operating expenses of investment properties:

Item Rental revenue from investment properties Direct operating expenses incurred by the investment properties with rental revenue generating in current period Direct operating expenses incurred by the investment properties with no rental revenue generating in current period	Three Months Ended March 31	Three Months Ended March 31
	2021 $ - $ - $453	2020
		$ -
		$ -
		$1,858

－－ 32

As of March 31, 2021, December 31, 2020, and March 31, 2020, the fair values of investment properties held by the Group were $109,111 thousand, $123,953 thousand, and $1,557,357 thousand, respectively, which were based on evaluation appraised by independent appraisers as of December 2019. Such evaluation adopted the comparative approach by reference to the market evidence similar to the real estate transaction prices. Those are Level 3 fair value inputs. Please refer to Note 12(4). The Group believes that there would not be any material fluctuation in the fair value of such investment properties after their appraisal. Appraisal will be taken place every two years on the investment properties.
For the information about investment properties pledged as collateral, please see Note 8 for details.
5.The Group’s land amounting to all $8,987 thousand as of March 31, 2021, December 31 2020, and March 31, 2020 was unable to be registered under the name of the Group due to regulation restriction. Accordingly, the ownership was registered under the name of an individual with a mortgage registration as safeguard measures.

6.15 Intangible assets

March 31, 2021	December 31, 2020 March 31, 2020 $464,202 $444,248 8,207 8,207 17,406 5,346 $489,815 $457,801 (115,468) (80,843) - - $374,347 $376,958 Trademarks Others Total $8,207 $17,406 $489,815 - 623 623 - - (20,267) $8,207 $18,029 $470,171 $ - $118 $115,468 - 116 7,904 - - (5,767) $ - $234 $117,605	March 31, 2020
$443,935 8,207 18,029		$444,248 8,207 5,346
$470,171 (117,605) -		$457,801 (80,843) -
$352,566		$376,958
Mineral right $464,202 - (20,267) $443,935 $115,350 7,788 (5,767) $117,371	Trademarks $8,207 - - $8,207 $ - - - $ -	Total $489,815 623 (20,267) $470,171 $115,468 7,904 (5,767) $117,605

－－ 33

6.16 Other noncurrent assets
Item
March 31,2021
Intangible exploration and
evaluation assets
$10,009
Other
13,830
Total
23,839
Less: Accumulated
impairment
-
Net
$23,839
Mineral right
Cost
Balance, January 1, 2020
$504,111
Additions
-
Disposals
-
Impact of foreign exchange differences
(59,863)
Balance, March 31, 2020
$444,248
Accumulated amortization and
impairment
Balance, January 1, 2020
$84,590
Amortization
7,788
Disposals
-
Impact of foreign exchange differences
(11,535)
Balance, March 31, 2020
$80,843

December 31,
Trademarks
$8,207
-
-
-
$8,207
$ -
-
-
-
$ -

The above-mentioned intangible exploration and evaluation assets are mainly the rights to explore nickel laterite ores, which will be reclassified as “Intangible assets - drilling rights to minerals” when the technical feasibility and commercial viability of extracting a mineral resource are demonstrable in the future.

6.17 Refundable deposits

Item Deposit for dumping margins Performance deposits Deposits Others Total	March 31,2021 $161,260 16,874 31,082 25,312 $234,528	December 31,2020 $148,596 16,921 32,135 25,243 $225,895	March 31,2020
			$865,884 27,222 30,931 13,114
			$937,151

An antidumping investigation into the corrosion-resistant steel sold from Taiwan, conducted by the Department of Commerce of the U.S. in June 2015, had completed in July 2016, with an official announcement that all corrosion resistant products manufactured in or sold from Taiwan must temporarily bear a dumping margin duty. The custom was also instructed to impose a temporary dumping margin on all entries of merchandise sold by the Company to the U.S. that had been covered by the investigation. The antidumping duty is imposed by the U.S. using the retrospective system. The difference between the tax rate of the provisional tax rate paid and the final survey result is presented as “refundable deposit”.

－－ 34

6.18 Short-term Loans

Type of Loan Credit loans Credit for material purchase Mortgage loans Total Type of Loan Credit loans Credit for material purchase Mortgage loans Total Type of Loan Credit loans Credit for material purchase Mortgage loans Total	March 31,2021	March 31,2021
	Amount Interest Rate $6,655,347 1.39%-5.00% 7,335,684 0.89%-2.55% 596,500 1.81%-2.83% $14,587,531 December 31,2020	Interest Rate
	Amount Interest Rate $7,636,493 1.39%-5.00% 6,696,824 0.93%-2.55% 592,000 1.81%-2.83% $14,925,307 March 31,2020	Interest Rate
	Amount $6,568,472 8,628,102 638,000 $15,834,574	Interest Rate
		1.33%-5.50% 1.56%-3.12% 2.09%-2.83%

Some financial assets, and property, plant, and equipment, investment properties, and accounts receivable were pledged as collateral for short-term loans. Please refer to Note 8 for details.

6.19 Short-term notes and bills payable Item March 31,2021 Commercial notes payable $1,285,000 Less: Unamortized discount (2,750) Net $1,282,250 Interest rate range 1.67%-2.78%	December 31,2020 $1,292,000 (2,635) $1,289,365 1.67%-2.78%	March 31,2020
		$934,000 (1,380)
		$932,620
		1.70%-2.78%

The Group pledged some property, plant, and equipment, and investment properties as collateral for short-term notes and bills payable. Please refer to Note 8 for details.

－－ 35

6.20 Other Payables Item Compensations payable Equipment payable Interest payable Utility expenses payable Consumables payable Export and transportation expenses payable Business tax payable Cash dividends payable - from previous period Repairing charges payable Others Total	March 31,2021 $190,079 511,142 52,300 59,973 17,385 81,145 128,569 23,038 17,962 381,148 $1,462,741	December 31,2020 $539,677 491,363 55,613 49,025 28,272 82,812 50,213 23,065 18,341 415,493 $1,753,874	March 31,2020
			$130,049 445,401 65,595 50,086 24,883 88,513 11,975 22,994 19,320 314,761
			$1,173,577

Please refer to Note 7.3.6. for related party transactions

6.21 Provisions - current

Item Employee benefits Onerous contract Warranty Derecognized liabilities Total Item January 1, 2021 Recognized in current period Write-off in current period March 31, 2021	March 31, 2021 December 31, 2020 March 31, 2020 $87,548 $83,394 $83,889 2,024 3,469 11,737 3,469 3,269 3,013 3,487 3,670 3,487 $96,528 $93,802 $102,126 Employee benefits Onerous contract Warranty Derecognized liabilities Total $83,394 $3,469 $3,269 $3,670 $93,802 63,219 2,024 200 - 65,443 (59,065) (3,469) - (183) (62,717) $87,548 $2,024 $3,469 $3,487 $96,528	March 31, 2020	March 31, 2020
			$83,889 11,737 3,013 3,487
			$102,126
	Employee benefits $83,394 63,219 (59,065) $87,548		Total $93,802 65,443 (62,717) $96,528

	Employee	Onerous		Derecognized
Item	benefits	contract	Warranty	liabilities	Total
January 1, 2020	$82,750	$1,006	$3,013	$4,037	$90,806
Recognized in current period	60,602	11,737	-	-	72,339
Write-off in current period	(59,463)	(1,006)	-	(550)	(61,019)
March 31, 2020	$83,889	$11,737	$3,013	$3,487	$102,126

Provision for employee benefits is an estimate of the short-term service leave vested to employees.
Provision for onerous contracts covers the expected loss of construction contract.
The Group’s “provision for warranty” is the warranty for the sales of electronic products, and is estimated based upon the historical warranty data of such products.

－－ 36

6.22 Long-term Loans

6.22 Long-term Loans
Item Bank syndicated loans: The Company Subsidiaries Subtotal Secured loans from banks Unsecured loans from banks Others Total Less: Unamortized discount Less: Current portion Long-term loans Interest rate range	March 31,2021 $8,100,000 25,906,615 $34,006,615 789,670 356,715 22,157 $35,175,157 (98,418) (4,931,167) $30,145,572 1.50%-5.56%	December 31,2020 $7,312,500 25,292,911 $32,605,411 924,240 424,026 26,313 $33,979,990 (95,902) (5,322,794) $28,561,294 1.50%-5.56%	March 31,2020
			$8,275,000 24,669,032
			$32,944,032 1,552,810 349,739 37,763
			$34,884,344 (124,862) (3,788,577)
			$30,970,905
			1.50%-5.74%

Please refer to Note 8 for the collateral of the above bank loans.
According to syndicated loan agreements with banks, the Group needs to maintain several financial ratios, including current ratio, liability ratio and interest coverage ratio, at a certain level, calculated based on the audited annual consolidated financial statements and the reviewed semi-annual consolidated financial statements or the audited annual financial statements of subsidiaries for the duration of the contracts. Since the Group failed to meet certain financial ratios in 2020, it needed to pay to the managing bank a compensation at 0.125% of the loan balance within agreed time, or was subject to 0.10%~1.50% incremental on its interest rate. However, this was not seen as a breach of contract, Except for the subsidiary-Yieh Phui (Hong Kong) Holdings Limited’s joint loan from Taiwan Business Bank, if the improvement is not completed before September 30 of the following year, the joint lending banks must discuss and determine whether there is a breach of contract.
Based on the reviewed consolidated financial statements in the first quarter of 2021, the Group has maintained the agreed financial ratio with the joint loan from Taiwan Business Bank and has reached the contractual standard. Since the improvement was completed within the time limit, this was not seen as a breach of contract.

6.23 Long-term Deferred Revenue

The subsidiary, Tianjin Lianfa Precision Steel Corporation, had received a subsidy for engineering construction from the Tianjin Economic Technological Development Area of RMB 11,470 thousand in 2006. As it was a government grant associated with assets, donation income was recognized based on percentage used for the recognition of depreciation expense. Details were set out below:

Item Deferred revenue from government grants: Subsidy for engineering construction Less: Accumulated revenue recognized Ending balance	March 31,2021 $49,905 (21,956) $27,949	December 31,2020 $50,064 (22,026) $28,038	March 31,2020
			$48,986 (19,592)
			$29,394

－－ 37

6.24 Benefit Plan After Retirement

Defined contribution plan
(1) The pension system based on the Labor Pension Act which is applicable to the Group’s domestic entities resided in the R.O.C. It is a defined contribution plan managed by government. Companies would make monthly contribution equal to 6% of each employee's monthly salary to the employees’ individual pension accounts at the Bureau of Labor Insurance. Subsidiaries outside the R.O.C. also participate in the local defined contribution plan and makes contribution to the local government accordingly.
(2) For the three months ended March 31, 2021 and 2020, the Group recognized pension expense of $34,018 thousand and $28,050 thousand, respectively.
Defined benefit plan
(1) Pension expense under the defined benefit plan were $1,412 thousand and $2,530 thousand for three months ended March 31, 2021 and 2020. The pensions were calculated using the actuarially determined pension cost discount rates as of December 31, 2020 and 2019.
(2) The Group estimated the balance in the designated pension accounts before the end of each year. Where the amount is deemed not sufficient to cover all the payment next year to employees who reach retirement in accordance with Article 53 or Article 54. 1. (1) of the same Act, a lump-sum deposit will be made before March-end of the following year to cover the difference.

6.25 Common Stock

Quantities and values of the Company’s outstanding common shares at the beginning and ending of periods were as follows:

Item January 1 Capital increase in cash March 31 Item January 1 Capital increase in cash March 31	Three Months Ended March 31,2021	Three Months Ended March 31,2021
	Shares (thousand shares) Amount 1,890,569 $18,905,695 - - 1,890,569 $18,905,695 Three Months Ended March 31,2020	Amount
		$18,905,695 -
		$18,905,695
	Shares (thousand shares) 1,913,327 - 1,913,327	Amount
		$19,133,275 -
		$19,133,275

2.As of March 31, 2021, the Company had an authorized capital of $20,000,000 thousand with 2,000,000 thousand shares.

－－ 38

6.26 Capital Surplus Item Share premium Treasury stock transaction Difference between consideration and carrying amount of subsidiaries acquired or disposed Change in ownership interests in subsidiaries accounted for using equity method Changes in associates and joint ventures accounted for using equity method Total	March 31,2021 $4,060,366 600,112 218,574 8,665 41,290 $4,929,007	December 31,2020 March 31,2020 $4,060,366 $4,060,366 600,112 557,739 218,574 218,122 8,665 8,665 41,290 41,311 $4,929,007 $4,886,203

Under the Company Act, capital surplus arising from shares issued at premium or from donation may be used for offsetting deficit. Furthermore, if the Company has no accumulated loss, capital surplus may be used for issuing new shares or distributing cash in proportion to shareholders' original holdings. In accordance with regulations in the Securities and Exchange Act, when the above-mentioned capital surplus is used for capitalization, the total amount every year shall not exceed 10% of the paidin capital. The Company may use capital surplus to offset loss only when the amount of earnings and reserves are insufficient to offset the loss. The capital surplus generated from investment under equity method shall not be used for any purposes.

6.27 Retained Earnings

1.A residual dividend distribution policy is adopted in accordance with the Company’s business expansion and profitability after considering the fact that the Company is currently in its growing phase. The annual net income, if any, should be used to pay off all the taxes and duties, as well as to compensate prior deficits. The remaining amount, if any, should be appropriated in the following order of presentation:
(1)10% as legal reserve;
(2)Set aside or reverse a certain amount as or of special reserve according to operating needs or laws or regulations;
(3)The remaining net income plus unappropriated earnings from prior years may be used as dividends or bonus for shareholders after proposed by the Board of Directors and resolved by the shareholders meeting.
In principle, earnings shall be distributed in the form of stock dividends in accordance with the Company’s capital requirement for business expansion and profitability. Cash dividends are distributed between 20% to 100% of total dividends distributed in accordance with the actual profitability while stock dividends are distributed between 0% to 80% of the total dividends distributed.
2.Legal reserve may only be used for offsetting deficits and issuing new shares or distributing cash in proportion to shareholders’ original holdings. However, new shares are issued or cash is distributed when legal reserve has exceeded 25% of the Company’s paid-in capital.

－－ 39

3.Special reserve Item Provision for debit balance of other equity Provision upon initial application of IAS Total	March 31,2021 $231,475 327,757 $559,232	December 31,2020 March 31,2020 $231,475 $231,475 327,757 327,757 $559,232 $559,232

(1)The Company may allocate earnings only after providing special reserve for debt balance in other equity on the date of balance sheet, and the reversal of debit balance in other equity, if any, may be stated into allocable earnings.
(2)Upon first-time adoption of IFRSs, the special reserve provided pursuant to the official letter under Jin-Guan-Jheng-Fa-Zih No. 1010012865 dated April 6, 2012 may be reversed to allocable retained earnings in proportion to the special reserve as provided originally, if the Company uses, disposes of or reclassifies the relevant assets in the future.
The Company’s appropriations of earnings for 2019 had been approved in the shareholders’ meeting held in June 2020. No dividends will be distributed to the shareholders due to accumulated deficit. The appropriation of 2020 earnings had been proposed by the board of directors on March 2021. Details were summarized below:

been proposed by the board of directors on below:	March 2021. Details were summarized	March 2021. Details were summarized
Item Legal reserve Appropriation for special reserve Cash dividends for common stock Stock dividends for common stock Total	Year Ended December 31,2020
	Earnings appropriation proposal $16,373 147,631 - - $163,734	Dividends pershare (NTD)
		- -

The appropriations of earnings for 2020 will be presented for approval in the Company’s annual shareholders’ meeting to be held in June 2021.

5.Information about earnings distribution approved by the Board of Directors and resolved by the shareholders’ meeting is available at the Taiwan Stock Exchange Market Observation Post System website.

－－ 40

6.28 Other Equity Item

Item Balance, January 1, 2021 Exchange differences on translation of foreign financial statements Unrealized gain (loss) on financial assets at fair value through other comprehensive income Share of associates and joint ventures accounted for using equity method Disposal of unrealized gain (loss) on financial assets at fair value through other comprehensive income Balance, March 31, 2021	Exchange differences on translation of foreign financial statements $(1,187,536) (51,254) - 4,583 - $(1,234,207)	Unrealized gain (loss) on financial asset at fair value through other comprehensive income $226,643 - (24,925) (21,580) (1,425) $178,713	Gain (loss) on hedging instruments	Total
			$6,384 - - (31) -	$(954,509) (51,254) (24,925) (17,028) (1,425)
			$6,353	$(1,049,141)

		Unrealized gain
	Exchange	(loss) on
	differences on	financial asset
	translation of	at fair value
	foreign	through other	Gain (loss) on
	financial	comprehensive	hedging
Item	statements	income	instruments	Total
Balance, January 1, 2020	$ (1,090,046)	$105,537	$6,338	$ (978,171)
Exchange differences on	(125,216)	-	-	(125,216)
translation of foreign financial
statements
Unrealized gain (loss) on financial	-	(78,138)	-	(78,138)
assets at fair value through other
comprehensive income
Share of associates and joint	20,147	(11,755)	(32)	8,360
ventures accounted for using
equity method
Balance, March 31, 2020	$ (1,195,115)	$15,644	$6,306 $ (1,173,165)

6.29 Treasury stock

1.Purpose of shares buyback and changes in quantity: March 31, 2021：None

December 31, 2020：

Unit: Thousand Shares

Year Ended December 31, 2020

January 1 - March 31, 2020：	Addition 22,758	Reduction (22,758)	December 31
			-

Unit: Thousand Shares

	Three Months Ended March 31, 2020	Three Months Ended March 31, 2020
January 1 -	－41－ Addition 15,374	Reduction -	March 31
			15,374

2.In order to protect the Company’s credit and shareholders’ equity, the Company’s Board of Directors resolved on March 13, 2020 to repurchase 100,000 thousand shares from March 16 to May 15, 2020. The number of shares repurchased by the Company as of March 31, 2020 was 15,374 thousand shares, and amount was 123,395 thousand. The number of shares repurchased by the Company as of May 15, 2020 was 22,758 thousand shares, with the amount of $185,207 thousand. The Company’s Board of Directors resolved on August 4, 2020 to cancel its treasury stocks with 22,758 thousand shares eliminated, and the capital reduction ratio was 1.19%. The record date for capital reduction was set on August 14, 2020.
3.Pursuant to the Securities and Exchange Act, the number of shares bought back as treasury share should not exceed 10% of the number of the Company’s issued and outstanding shares and the amount bought back should not exceed the sum of retained earnings, paid-in capital in excess of par value and realized capital surplus.
4.Pursuant to the Securities and Exchange Act, treasury shares should not be pledged as collateral and is not entitled to shareholder’s rights before it is reissued.

6.30 Non-controlling interests

Item Beginning balance Share attributable to non-controlling interests: Net income (loss) for the current year Other comprehensive income of the year Exchange differences on translation of foreign financial statements Unrealized gain (loss) on financial asset at fair value through other comprehensive income Share of associates and joint ventures accounted for using equity method Exchange differences on translation of foreign financial statements Unrealized gain (loss) on financial asset at fair value through other comprehensive income Changes in associates and joint ventures recognized under equity method Increase in non-controlling interests - capital increase in cash Decrease in non-controlling interests - sale Increase (decrease) in non-controlling interests Ending balance	Three Months Ended March 31	Three Months Ended March 31
	2021 $1,361,903 9,128 (6,407) (60) 96 (340) (20) - - - $1,364,300	2020
		$1,599,689 (89,212) (22,376) (598) 409 (184) - 192 (7,665) (1,251)
		$1,479,004

－－ 42

6.31 Operating Revenue

			Three Months Ended	Three Months Ended	March 31
	Item		2021		2020
Revenue from contracts with customers
Sales revenue			$18,549,096		$12,295,024
Construction revenue				156,058	379,555
Realized (unrealized) profits from		sales		54	54
Total sales revenue from contracts with customers $18,705,208					$12,674,633
Less: Sales return				(5,801)	(7,437)
Sales discount				(9,132)	(14,003)
Net operating revenue			$18,690,275		$12,653,193
1.Segments of revenue from contracts with customers
The Group’s source of revenue		comes from	providing goods and services that are
transferred either	over time or	at a specific	timing. Revenue can be split into the
following segments:
(1) Segmented by	revenue from	different types of goods and services:
Three Months	Ended March	31, 2021:
	Steel coils and		Construction
	steelpipes	Wirerods	revenue	Others	Total
External customer
Contract revenue	$16,114,361	$1,535,616	$156,112	$884,186	$18,690,275
Timing of revenue
recognition
Revenue recognized at a specific timing	$16,114,361	$1,535,616	$ -	$884,186	$18,534,163
Revenue recognized over time	-	-	156,112	-	156,112
Total	$16,114,361	$1,535,616	$156,112	$884,186	$18,690,275
Three Months	Ended March	31, 2020:
	Steel coils and		Construction
	steelpipes	Wirerods	revenue	Others	Total
External customer
Contract revenue	$10,323,176	$1,458,006	$379,609	$492,402	$12,653,193
Timing of revenue
recognition
Revenue recognized at a specific timing	$10,323,176	$1,458,006	$ -	$492,402	$12,273,584
Revenue recognized over time	-	-	379,609	-	379,609
Total	$10,323,176	$1,458,006	$379,609	$492,402	$12,653,193

(2) For detailed revenue information by business segments, please refer to Note 14.

－－ 43

2.Contract Balance Item Notes receivable and accounts receivable Contract assets - current Steel structure construction and overhead cranes Contract liabilities - current Unearned sales revenue Advance construction receipts Total	March 31,2021 $2,684,566 $140,724 $1,820,390 152,590 $1,972,980	December 31,2020 $2,619,438 $334,945 $2,035,162 84,442 $2,119,604	March 31,2020
			$3,327,839
			$686,793
			$1,267,751 130,938
			$1,398,689

(1)Changes in contract assets and contract liabilities were caused mainly by the difference of timing between when performance obligations were fulfilled and when customers make payments.

(2)Loss allowance for contract assets:

(2)Loss allowance	for contract assets:
Expected credit loss rate Gross carrying amount Loss allowance (Lifetime ECL) Net	March 31,2021 0%-0.5% $141,859 (1,135) $140,724	December 31,2020 0%-0.5% $336,080 (1,135) $334,945	March 31,2020
			0%-0.5%
			$688,957 (2,164)
			$686,793

The Group recognized loss allowance on contract assets based on expected credit losses during existence. Contract assets were transferred to accounts receivable at the time of billing. Its credit risk characteristics were the same as accounts receivable generated from similar contracts. Therefore, the Group believes that the expected credit loss rate of accounts receivable can also be applied to contracts. Changes in loss allowance on contract assets were as follows:

ollows:
Beginning balance Add: Provision for impairment Ending balance	Three Months Ended March 31
	2021 $1,135 - $1,135	2020
		$2,389 (225)
		$2,164

(3) Contract liabilities recognized for the three months ended March 31, 2021 and 2020 under operating revenue amounted to $2,035,162 thousand and $857,294 thousand, respectively.
(4) As of March 31, 2021 and 2020, the transaction prices allocated to the performance obligations that were not fully satisfied amounted to $522,524 thousand and $778,177 thousand, respectively. The Group will recognize revenue as the construction is being completed and the expected timing for recognition of revenue is on various dates through December 2022.

－－ 44

6.32 Employee benefits, depreciation and amortization expense

Three Months Ended March 31, 2021

Nature Employee benefits Salary Insurance Pension Other employee benefits Depreciation (Note 1) Amortization Total	OperatingCost $466,795 44,136 26,012 103,006 413,821 7,788 $1,061,558	OperatingExpense $219,137 20,194 9,418 29,058 22,666 116 $300,589	Total
			$685,932 64,330 35,430 132,064 436,487 7,904
			$1,362,147

Three Months Ended March 31,2020	Three Months Ended March 31,2020	Three Months Ended March 31,2020
OperatingCost $368,304 35,693 22,711 88,866 385,316 7,788 $908,678	OperatingExpense $186,987 16,658 7,784 23,656 22,586 2 $257,673	Total
		$555,291 52,351 30,495 112,522 407,902 7,790
		$1,166,351

(Note 1): Excluding depreciation of $3,031 thousand under other losses.

(Note 2):Excluding pension of $85 thousand and depreciation of $243 thousand under equipment prepayments.
1.According to Articles of Incorporation, compensation to employees and remuneration to directors shall neither be less than 0.2 % nor greater than 0.1% of the net income before tax and before which the compensation to employees and remuneration to directors are deducted from. For the three months ended March 31, 2021, employees’ compensation and directors’ remuneration were accrued at $2,520 thousand and $1,260 thousand, respectively. Due to the negative unappropriated earnings presentation and accumulated loss of the Company for the three months ended March 31, 2020, the estimated amount of the above compensation and remuneration were both $0 thousand.
2.Compensation to employees and remuneration to directors for the years ended December 31, 2020 and 2019 has been resolved and approved by the Board of Directors in March 2021 and 2020. Relevant amounts recognized in the financial statements are as follows:

Year Ended December 31	Year Ended December 31	Year Ended December 31
2020 Employees’ Compensation Directors’ Remuneration $ 447 $ 224 447 224 $- $-	2019
Employees’ Compensation $ 447 447 $-	Employees’ Compensation $ - - $-	Directors’ Remuneration
		$ - -
		$-

－－ 45

The above-mentioned employee compensation was distributed in cash.

3.Information about employee compensation and remuneration to directors approved by the Board of Directors is available at the Taiwan Stock Exchange Market Observation Post System website.

6.33 Interest income

Interest income
Item Bank deposits Cross currency swap contracts deposits Others Total	Three Months Ended March 31
	2021 $3,702 - - $3,702	2020
		$6,278 6,599 74
		$12,951

6.34 Other Income

Other Income
Item Dividend income Other revenue Insurance claims income Income from sales of scraps Others Subtotal Total	Three Months Ended March 31
	2021 $7,243 - 12,489 23,092 35,581 $42,824	2020
		$27,206 166,606 8,527 14,537
		189,670
		$216,876

1.The Group’s Rolling Plant No. 3 was caught on fire in April 2018, resulting in damage of part of the equipment therein. The carrying amount of the damaged equipment was $85,048 thousand. Aside from recognizing deductible for fire loss of $7,000 thousand, an insurance claim receivable for the damaged part in the amount of $78,048 thousand was also recognized on December 31, 2018. In July 2020, January 2020, and January 2019, the Group has obtained $124,554 thousand, $166,606 thousand, and $150,000 thousand from insurance claim. After offsetting the insurance claim receivable, $124,554 thousand, $166,606 thousand, and $71,952 thousand are recorded as “other income”.

6.35 Other gains and losses

Three Months Ended March 31

Item Valuation gain (loss) on financial assets mandatorily measured at FVTPL Foreign exchange gain (loss) Gain (loss) from disposal of property, plant, and equipment Gain on disposal of investment properties Gain on disposal of noncurrent assets held for sale Others Total	2021 $(1,642) (26,264) 4,471 3,499 539,330 (2,641) $516,753	2020
		$(2,452) 8,813 (3,482) - 52,531 (2,715)
		$52,695

－－ 46

6.36 Finance Costs

Finance Costs
Item Interest expense: Interest on loans Interest on lease liabilities Subtotal Less: Amount qualified for capitalization Finance costs	Three Months Ended March 31 2021 2020 $348,366 $420,524 151 170 $348,517 $420,694 (86,023) (113,915) $262,494 $306,779
		2020
		$420,524 170
		$420,694 (113,915)
		$306,779

6.37 Income Tax

Income tax expense
(1)Components of income tax expense (benefit)

Item Current income tax expense Land value incremental tax Deferred income tax of originated and reversed temporary differences Income tax expense (benefit)	Three Months Ended March 31	Three Months Ended March 31
	2021 $140,191 8,905 143,700 $292,796	2020
		$9,918 - (52,393)
		($42,475)

(2) Income tax expense (benefit) associated with other comprehensive income

Item Exchange differences on translation of foreign financial statements Total	Three Months Ended March 31	Three Months Ended March 31
	2021 $(6,192) $(6,192)	2020
		$(9,176)
		$(9,176)

The Company’s income tax returns through 2019 have been ratified by the tax authorities.

－－ 47

6.38 Other Comprehensive Income

Three Months Ended March 31, 2021	Three Months Ended March 31, 2021	Three Months Ended March 31, 2021
Before tax Income tax expense (benefit) After tax $(24,985) $ - $(24,985) (21,920) - (21,920) $(46,905) $ - $(46,905) $(64,102) $6,441 $(57,661) 4,928 (249) 4,679 (31) - (31) $(59,205) $6,192 $(53,013) $(106,110) $6,192 $(99,918) Three Months Ended March 31, 2020		After tax
		$(24,985) (21,920)
		$(46,905)
		$(57,661) 4,679 (31)
		$(53,013)
		$(99,918)
Before tax $(78,736) (11,939) $(90,675) $(157,830) 21,618 (32) $(136,244) $(226,919)	Income tax expense (benefit) $ - - $ - $10,238 (1,062) - $9,176 $9,176	After tax
		$(78,736) (11,939)
		$(90,675)
		$ (147,592) 20,556 (32)
		$(127,068)
		$(217,743)

－－ 48

6.39 Earnings Per Share

Item A. Basic earnings (loss) per share Net income (loss) attributable to shareholders of parent company Weighted average number of outstanding shares (thousand shares) Basic earnings (loss) per share (after tax) (NT$) B. Diluted earnings (loss) per share Net income (loss) attributable to shareholders of parent company Weighted average number of outstanding shares (thousand shares) Impact on employees’ compensation (Note) Weighted average number of ordinary shares outstanding after dilution (thousand shares) Diluted earnings (loss) per share (after tax) (NT$)	Three Months Ended March 31	Three Months Ended March 31
	2021 $1,104,219 1,890,569 $0.58 $1,104,219 1,890,569 222 1,890,791 $0.58	2020
		$(313,462) 1,913,327
		$(0.16)
		$(313,462)
		1,913,327 -
		1,913,327
		$(0.16)

(Note) Since the Group offered to settle compensation paid to employees in cash or shares, the Group assumed the entire amount of the compensation would be settled in shares and the resulting potential shares were included in the weighted average number of shares outstanding used in the computation of diluted earnings per share, as the effect is dilutive. Such dilutive effect of the potential shares is included in the computation of diluted earnings per share until the number of shares to be distributed to employees is resolved in the following year.

6.40 Transactions with Non-controlling Interests

Acquisition of additional equities in subsidiaries Three months ended March 31, 2021: None. Three months ended March 31, 2020:

Between January and March 2020, the Group had purchased in cash additional shares of 0.38% for the subsidiaries, Yieh Hsing Enterprise Co., Ltd. with $7,665 thousand, resulting in the changes in its shareholding percentage from 56.98% to 57.36%. Since the said transaction did not change the Group’s control over the said subsidiaries, it is deemed as an equity transaction.

－－ 49

Yieh Hsing Enterprise Co., Ltd. $9,587

Carrying amount of non-controlling interests acquired $9,587 Capital surplus - consideration paid to non-controlling (7,665) interests Capital surplus - Difference between consideration and $1,922 carrying amount of subsidiaries acquired or disposed

Change in ownership interests in subsidiaries Three months ended March 31, 2021: None. Three months ended March 31, 2020:
(1)The sub-subsidiary, Kings Garden International Co., Ltd., issued common stocks in March 2020. After the subscription, the Company’s shareholding increased from 49.28% to 50.12%, Yieh Hsing Enterprise Co., Ltd.’s shareholding reduced from 50.71% to 49.87%, and Shin Phui Steel Corporation’s shareholding remained 0.01%. Since the above-mentioned transaction did not change the Group’s control over the said subsidiary, it was deemed as an equity transaction.

Subscription in cash Share of equity of subsidiaries’ net assets computed using relative equity changes Recognized changes in ownership interests in subsidiaries accounted for using equity method	Yieh Phui Enterprise Co., Ltd. $(72,100) 70,576 $(1,524)	Yieh Hsing Enterprise Co., Ltd. $ - 852 $852	Shin Phui Steel Corporation
			$ - 1
			$1

7. RELATED PARTY TRANSACTIONS

7.1 Parent and ultimate controlling party.

The Company is the ultimate controlling party of the Group.

7.2 Names of related parties and relationship categories

Name of relatedparty Yieh United Steel Corp. Yieh Mau Corp. Asiazone Co., Ltd. Zheng Xin Security Co., Ltd. Eliter International Corp. Unipattern Corporation Co., Ltd. E-Da Bus Transportation Co., Ltd. E-DA Tour Bus Co., Ltd. E-Da Development Corp. E-Da Cultural Creative Industry Co., Ltd. E- Da Visual Effects Company Limited. E- Da Apartment Building Management and	Relatedpartycategory
	Associate Associate Associate Associate Associate Associate Associate Associate Associate Associate Associate Associate

－－ 50

Maintenance Co., Ltd. E Mau Development Corp. Yieh Hong Enterprise Co., Ltd. Yieh Mau Corp. Li-Hsin Co., Ltd. Fujian Lian Wei Logistics Co., Ltd. Skylark International Hotel Co., Ltd. Pacific Harbor Stevedoring Corporation Royal Palace Hong Kong Style Restaurant Co., Ltd. Jinghua Commercial Asset Management Limited I-Hsiang-Le International Co., Ltd. Chiao-Ling Leisure Co., Ltd. New Spring Construction Corp. E-Da Royal Hotel Company Ltd. E-Da Hospital I-Shou University I-Shou University Internship Center Long Hua Travel Services Co., Ltd. I-Shou International School Yieh Mau International Co., Ltd. Shin Huo Environmental Engineering Co., Ltd Yulin Industrial Co., Ltd E-Da Cancer Hospital Guan Ying Enterprise Co., Ltd. E-Da Dachang Hospital Zhengzi Technology Co., Ltd E-DA Healthcare Preschool E-DA Bassinet Monther and Baby Care Center E-DA Home Health Care E-DA Nursing Care Center E-DA Postpartum and Babycare Center Wei Hong Investment Development Co., Ltd. Lianshuo Investment Development Co., Ltd. Chain-dollars Enterprise Co., Ltd.

Lian Cheng Ready-Mixed Products Co., Ltd. You, Jing-Sheng Chen,Yung-Shian

Associate

Other related party Other related party Other related party Other related party Other related party Other related party Other related party

Other related party

Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party

7.3 Significant transactions with related parties

Balances and transactions between the Company and subsidiaries (i.e., related parties) were eliminated and not disclosed when preparing such consolidated financial statements. Disclosure of related party transactions were as follows:

－－ 51

1. Operating revenue

Three Months Ended March 31

Item Related party category Sales revenue Associates Other related parties Total Construction Associates revenue Other related parties Subtotal Less: construction revenue that are eliminated in consolidation Total	2021 $436,907 196,314 $633,221 $ - 30,218 30,218 (24,688) $5,530	2020
		$618,620 211,014
		$829,634
		$297 212,255
		212,552 (11,215)
		$201,337

(a) Selling price to the Group’s related parties, including hot rolled steel coils, galvanized steel coils, scraps (bars), etc. and trading terms were the same with those to other customers. Payment periods were within one to two months.
(b) Selling price of hot-rolled steel coil to related parties were set by reference to the purchase price of a non-related party as a trading counterparty. The payment term was 3 months.
(c) Selling price of carbon steel and steel scraps to related parties were set with reference to the purchase price of a non-related party as a trading counterparty. Payment term was monthly and closes in 15 days.
(d) The construction contracts between the Group and above-mentioned related parties were established at prices negotiated by both parties. Contract proceeds were collected according to the collection clauses stated in these contracts. Unless agreed on by both parties, payments cannot be delayed.
(e) Since the Group contracted from and sub-contracted to related parties a portion of steel construction engineering at the same time, where the construction engineering belonged to the same project, the accounting treatment of which was deemed the same as such project would have been managed and supervised by other related parties. For the three months ended March 31, 2021 and 2020, the eliminated construction revenue were $24,688 thousand and $11,215 thousand, respectively.
Purchases

Purchases
Related party category Associate Other related parties Total	Three Months Ended March 31
	2021 $971,769 1,331,040 $2,302,809	2020
		$786,559 437,202
		$1,223,761

Items purchased by the Group from the above related parties were mainly stainless billets and carbon steel billets. The purchase prices were similar to that offered to other suppliers. Payment term was LC at sight (not significantly different than terms to other suppliers) or T/T before shipment.

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3. Contract assets

3. Contract assets
Related party category Associates Other related party: New Spring construction Corp. Total Less: Loss allowance Net 4. Contract liabilities Related party category Associates Other related parties Total:	March 31,2021 $ - 3,376 $3,376 - $3,376 March 31,2021 $1,405 58,863 $60,268	December 31,2020 $164 92,604 $92,768 - $92,768 December 31,2020 $1,239 39,274 $40,513	March 31,2020
			$3,732 494,548
			$498,280 -
			$498,280
			March 31,2020
			$ - 84,785
			$84,785

5. Receivables from related parties (excluding loans to related parties)

AccountingItem Notes receivable Accounts receivable Other receivables 6. Payables AccountingItem Notes payable Accounts payable	Related party category March 31,2021 December 31,2020 Associates $144 $5,604 Other related parties 449 22 Total 593 5,626 Less: Loss allowance - - Net $593 $5,626 Associate： Asiazone Co., Ltd. $96,495 $159,072 Yieh United Steel 58,806 25,862 Other 316 82 Other related parties 12,533 1,456 Total 168,150 186,472 Less: Loss allowance (669) (669) Net $167,481 $185,803 Associate： Yieh United Steel $35,751 $74,203 Others 76 88 Other related parties 996 628 Total 36,823 74,919 Less: Loss allowance - - Net $36,823 $74,919 to related parties (excluded loans from related parties) Related party category March 31,2021 December 31,2020 Associates $2,901 $253 Other related parties 1,110 240 Total $4,011 $493 Associates $4,022 $ - Other related parties 44,056 9,907 Total $48,078 $9,907	March 31,2020 $38 20 58 - $58 $307,234 500,063 - 139,399 946,696 (1,243) $945,453 $238,586 72 960 239,618 - $239,618 March 31,2020 $2,014 1 $2,015 $ - 6,973 $6,973

－－ 53

Accounting Item Related party category March 31,2021 December 31,2020 Other payables Associates $53,715 $105,575 Other related parties 17,139 28,313 Total $70,854 $133,888 7. Prepayments Related party category March 31,2021 December 31,2020 Other related parties $111,308 $113,383 Associates 41 - Total $111,349 $113,383	Accounting Item Related party category March 31,2021 December 31,2020 Other payables Associates $53,715 $105,575 Other related parties 17,139 28,313 Total $70,854 $133,888 7. Prepayments Related party category March 31,2021 December 31,2020 Other related parties $111,308 $113,383 Associates 41 - Total $111,349 $113,383	March 31,2020
		$72,839 2,102
		$74,941
		March 31,2020
		$191,269 56
		$191,325

8. Asset transaction

(1)Acquisition of property, plant and equipment:

Three months ended March 31, 2021:

Type of related party Other related party： New Spring Construction Corp. Other Associate	Transaction target Buildings and Structures (Note 1) Other equipment Computer communication equipment	Transaction amount
		$65,403 50 44,561

(Note 1) The above-mentioned transaction price was set by reference to appraisal reports offered by professional institutions, and were agreed on by both parties upon negotiation or through price comparison. As of March 31, 2021, the unpaid portion was $641 thousand.

(Note 2) The above-mentioned transaction price was agreed on by both parties upon negotiation. As of March 31, 2021, the unpaid portion was $43,313 thousand.

Three months ended March 31, 2020:

Type of related party Other related party： New Spring Construction Corp. Associates	Transaction target Construction in progress (Note 1) Other equipment (Note 2)	Transaction amount
		$204,874 70,287

(Note 2) The above-mentioned transaction price was agreed on by both parties upon negotiation. As of March 31, 2020, the unpaid portion was $69,574 thousand.

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9. Others

(1)Miscellaneous income

ers Miscellaneous income
Relatedpartycategory Associates Other related parties Total	Three Months Ended March 31
	2021 $4,543 176 $4,719	2020
		$3,421 110
		$3,531

These were mainly technical service income, and sporadic rent income. The rent price was determined by contract and received monthly or quarterly.

(2)Miscellaneous expenses

Miscellaneous expenses
Relatedpartycategory Associates Other related parties Total	Three Months Ended March 31
	2021 $19,418 27,788 $47,206	2020
		$14,378 27,673
		$42,051

These were mainly service charges, export expenses, and rent expenses not applicable to IFRS 16. The rent prices were determined by contracts and paid monthly or quarterly.

(3)Construction contracts

(a)Unfinished construction contracts with related parties as of March 31, 2021 were as follows:

Type of related party / Name Associates Other related party： New Spring Construction Corp.	Name of construction Door type double host grab of overhead cranes, etc. Above-ground structures construction for E-Da Asia Commercial Plaza, etc.	Total contract price $8,596 $3,388,686 (Note)	Contract assets / liabilities
			$ -/$1,405 $3,376 /$57,772

(b) Unfinished construction contracts with related parties as of December 31, 2020 were as follows:

Type of related party / Name Associates Other related party： New Spring Construction Corp.	Name of construction Door type double host grab of overhead cranes, etc. Above-ground structures construction for E-Da Asia Commercial Plaza, etc.	Total contract price $8,596 $3,388,026 (Note)	Contract assets / liabilities
			$164 / $1,239 $92,604 / $38,183

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(c) Unfinished construction contracts with related parties as were as follows:	of March 31, 2020
Type of related party / Name Name of construction Total contract price Associates Flue pipe installation construction $12,310 Other related party： New Spring Construction Corp. Above-ground structures construction for E-Da Asia Commercial Plaza, etc. $3,376,861 (Note)	Contract assets / liabilities
	$3,732/$ - $494,548/$83,694

(Note) As stated in Note 7.3.1.(e), where the Group contracts from and subcontracts to related parties the same construction project, the accounting treatment of which is deemed the same as such construction project would have been commissioned to other related parties to manage and supervise.

7.4 Information about remunerations to the major management:

Item Salary and other short-term employee benefits Benefits after retirement Other long-term employee benefits Termination benefits Share-based payments Total	Three Months Ended March 31 2021 2020 $33,501 $26,286 470 417 - - - - - - $33,971 $26,703
	2021 $33,501 470 - - - $33,971

8. PLEDGED ASSETS

The following assets have been pledged as collateral for long-term and short-term loans:

Item Pledged demand deposits Pledged time deposits Subtotal of other financial assets - current Pledged demand deposits Pledged time deposits Subtotal of other financial assets - noncurrent Property, plant and equipment (net) Noncurrent assets held for sale Right-of-use asset Investment properties Investments accounted for using equity method Notes receivable and accounts receivable Total	March 31,2021 $622,846 332,626 955,472 141,924 275,231 417,155 23,655,531 - 163,428 22,355 1,759,575 336,924 $27,310,440	December 31,2020 $644,677 132,774 $777,451 $139,740 274,701 $414,441 $23,941,229 159,832 165,047 22,355 1,729,055 358,347 $27,567,757	March 31,2020
			$451,093 706,776
			$1,157,869
			$134,294 405,914
			$540,208
			$24,585,243 14,131 57,185 488,659 1,346,322 334,153
			$28,523,770

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9. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED CONTRACT COMMITMENTS

(1) Guarantee notes issued by the Group to banks for loans and purchases performance totaled $49,100,436 thousand, $49,066,365 thousand and $49,270,518 thousand as of March 31, 2021, December 31, 2020, and March 31, 2020, respectively.
(2) Guarantee notes received by the Group for its contract performance and creditor’s right totaled $185,649 thousand, $176,854 thousand and $191,545 thousand as of March 31, 2021, December 31, 2020, and March 31, 2020, respectively.
(3) The unused letters of credit as of March 31, 2021, December 31, 2020, and March 31, 2020 were as follows:

Item March 31, 2021 December 31, 2020 March 31, 2020 L/C Amount USD 57,732 USD 32,223 USD 30,832 NTD 686,066 NTD 437,122 NTD 817,100 JPY 1,330 JPY 1,095,040 JPY 3,200 EUR 71 EUR 85

(4) As of March 31, 2021, December 31, 2020, and March 31, 2020, guarantees provided through banks by the Group for performance and warranty amounted to $76,278 thousand, $49,103 thousand and $124,395 thousand, respectively.
(5) As of March 31, 2021, December 31, 2020, and March 31, 2020, guarantee letters of credit issued by the Group for export business totaled USD9,600 thousand, USD9,600 thousand, and USD13,400 thousand, respectively.
(6) The Group entered into raw material purchase agreements with supplier of billets (King). The price was agreed on by both parties upon negotiation. As of March 31, 2021, the unperformed portion totaled 10,000 tons, amounting to $181,801 thousand.
(7) Capital expenditures committed but not yet incurred are as follows:

Item March 31, 2021 December 31, 2020 March 31, 2020 Property, plant and $1,085,212 $1,908,014 $2,914,099 equipment

(8) Establishment of important construction contracts
(a)As of March 31, 2021, estimated total contract costs, contract costs paid, and expected completion dates but not completed were summarized below:

Type ofconstruction	Contract price /Total estimated constructioncost	Construction cost paid /Completion%	Expected year of completion /Accumulated profit or lossrecognized
Manufacture and installation of overhead cranes sized 300t(150t+150t)*43m for the Wind Power Department of Century Iron and Steel Industrial Co.,Ltd.	205,000 169,712	166,712 98.23%	Year 2021 34,664
6 40T-gantry cranes for storage in the rear area at Wharf No. 120 of KaohsiungHarbor	311,100 260,020	259,420 99.77%	Year 2021 50,962
Construction of phase 1 Pangu buildings by Greaten Construction Co., Ltd.	220,807 207,766	195,034 93.87%	Year 2021 12,242
Manufacturing and installation of 13 overhead cranes,their steel	313,600 307,704	263,077 85.50%	Year 2021 5,041

－－ 57

tracks and safety electric bus-way for GMTC steel furnace plant at Liuying
Development project phase 1 of district C of the core area of Shalun Smart Green Energy Science City by Reiju Construction	260,203 257,273	248,773 96.70%	Year 2021 2,833
Steel structure engineering construction of E-Da Empire Buildings by New Spring Construction Corp.	1,320,433 1,280,441	1,180,010 92.16%	Year 2021 36,855
New Construction of New Crystal Section of Tainan City by Dongpu Construction	207,251 192,368	174,850 90.89%	Year 2021 13,528
Manufacturing and installation of 14 overhead cranes, and safety electric bus-way by CSBC Corporation Taiwan	170,567 165,017	130,157 78.88%	Year 2021 4,378
TSMC’s R&D Center Phase I Office building B production project in hsin - chu science park by Tung Ho Steel Enterprise Corp.	190,546 187,693	81,187 43.26%	Year 2022 1,234

(b)As of December 31, 2020, estimated total contract costs, contract costs paid, and expected completion dates but not completed were summarized below:

Type ofconstruction	Contract price /Total estimated constructioncost	Construction cost paid /Completion%	Expected year of completion /Accumulated profit or lossrecognized
Manufacture and installation of overhead cranes sized 300t(150t+150t)*43m for the Wind Power Department of Century Iron and Steel Industrial Co., Ltd.	205,000 171,912	166,713 96.98%	Year 2021 32,087
6 40T-gantry cranes for storage in the rear area at Wharf No. 120 of Kaohsiung Harbor	311,100 260,717	259,326 99.47%	Year 2021 50,114
Construction of phase 1 Pangu buildings by Greaten Construction Co., Ltd.	220,807 207,766	194,406 93.57%	Year 2021 12,202
Manufacturing and installation of 13 overhead cranes, their steel tracks and safety electric bus-way for GMTC steel furnace plant at Liuying	313,600 317,704	261,376 84.94%	Year 2021 5,008
Development project phase 1 of district C of the core area of Shalun Smart Green Energy Science City by Reiju	260,203 257,273	248,773 96.70%	Year 2021 2,833

－－ 58

Construction
Steel structure engineering construction of E-Da Empire Buildings by New Spring Construction Corp.	1,320,433 1,280,441	1,176,100 91.85%	Year 2021 36,733
New Construction of New Crystal Section of Tainan City by Dongpu Construction	207,251 196,791	174,345 88.59%	Year 2021 9,268
Manufacturing and installation of 14 overhead cranes, and safety electric bus-way by CSBC Corporation Taiwan	170,567 165,017	123,319 74.73%	Year 2021 4,148
TSMC’s R&D Center Phase I Office building B production project in hsin - chu science park by Tung Ho Steel Enterprise Corp.	190,546 172,309	35,252 20.46%	Year 2022 3,731

(c)As of March 31, 2020, estimated total contract costs, contract costs paid, and expected completion dates but not completed were summarized below:

Type ofconstruction	Contract price /Total estimated constructioncost	Construction cost paid /Completion%	Expected year of completion /Accumulated profit or lossrecognized
Construction and installation of 40T*42M tracked overhead container crane for China Container Transport at pier 10 and 11of TaichungHarbor	202,300 205,019	204,853 99.92%	Year 2020 (2,719)
Manufacture and installation of overhead cranes sized 300t(150t+150t)*43m for the Wind Power Department of Century Iron and Steel Industrial Co., Ltd.	205,000 197,878	159,507 80.61%	Year 2020 5,741
6 40T-gantry cranes for storage in the rear area at Wharf No. 120 of KaohsiungHarbor	311,100 260,717	259,208 99.42%	Year 2020 50,091
Construction of phase 1 Pangu buildings by Greaten Construction Co.,Ltd.	220,807 213,663	192,663 90.17%	Year 2020 6,442
Manufacturing and installation of 13 overhead cranes, their steel tracks and safety electric bus-way for GMTC steel furnace plant at Liuying	313,600 312,494	235,592 75.39%	Year 2020 834
YKK Taiwan's Chungli Plant No.2 construction project by ChungLu Construction	342,086 332,449	319,346 96.06%	Year 2020 9,257
Development project phase 1 of district C of the core area of Shalun Smart Green Energy Science City byReiju	261,804 260,244	248,772 95.59%	Year 2020 1,491

－－ 59

Construction
Steel structure engineering construction of E-Da Empire Buildings by New Spring ConstructionCorp.	1,320,433 1,280,441	971,090 75.84%	Year 2020 30,330
New Construction of New Crystal Section of Tainan City by Dongpu Construction	203,675 200,918	116,709 58.09%	Year 2020 1,602
Manufacturing and installation of 14 overhead cranes, and safety electric bus-way by CSBC Corporation Taiwan	170,567 165,017	62,952 38.15%	Year 2020 2,117

(9) Two subsidiaries, Great Emperor Hotel Co., Ltd. and Kings Garden International Co., Ltd., entered into the syndicated loan agreements with Land Bank of Taiwan and First Commercial Bank in August 2014. Yieh United Steel Corp., Yieh Phui Enterprise Co., Ltd., and Yieh Hsing Enterprise Co., Ltd. issued a commitment letter before the first use that the Company and its related parties shall jointly hold more than 50% of Kings Garden International Co., Ltd. and Great Emperor Hotel Co., Ltd.’s issued shares and gain the majority of directors’ seats at all times. The Group held 100% shareholding of Kings Garden International Co., Ltd. and Great Emperor Hotel Co., Ltd. and acquired all directors’ seats of both companies as of March 31, 2021.
(10) In March, 2021, the Group sold part of buildings and structures in Changshu Economic and Technological Development Zone. The total contract price was RMB4,220 thousand, from which the expected disposal gain of RMB848 thousand was derived. The above-mentioned transaction price was determined by both parties upon negotiation. As of March 31, 2021, contract deposits of RMB3,800 thousand had been collected. The ownership transfer will be completed in accordance with the scheduled payment terms as stipulated in the contracts.

10. SIGNIFICANT DISASTER LOSS: NONE.

11. SIGNIFICANT SUBSEQUENT EVENTS: NONE.

12. OTHERS

(1) Seasonality or periodicity of operations

The operation of the Group’s is not influenced by seasonality and periodicity.

(2) Capital risk management

There were no significant changes in the Group’s policies for capital risk management for the three months ended March 31, 2021 as compared with the consolidated financial statements for the year ended December 31, 2020. Please refer to Note 12(1) of the consolidated financial statements for the year ended December 31, 2020 for the related information.

(3) Financial Instruments

(1) Financial risk of financial instruments
i. There were no significant changes in the Group's Financial risk management policies and objectives for the three months ended March 31, 2021 as compared with the consolidated financial statements for the year ended December 31, 2020. Please refer to Note 12(2) of the consolidated financial statements for the year ended December 31, 2020 for the related information.

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ii.The nature and degree of significant financial risks

A. Market risks

(A)Foreign exchange rate risk
a. There were no significant changes in the nature and degree of material financial risk for three months ended March 31, 2021 as compared with the consolidated financial statements for the year ended December 31, 2020. Please refer to Note 12(2) of the consolidated financial statements for the year ended December 31, 2020 for the related information.
b. Exchange rate exposure and sensitivity analysis

Exchange rate		March 31, 2021	March 31, 2021	March 31, 2021
	Presented amount (New Taiwan Dollars) 1,096,065 467,647 229,862 101,301 734,815 207,262 1,702,502 3,144,921 101,108 761,306 100,996	Sensitivity Analysis
		Range of change Up 1% Up 1% Up 1% Up 1% Up 1% Up 1% Up 1% Up 1% Up 1% Up 1% Up 1%	Effects on profit or loss 10,961 4,676 2,299 1,013 - (2,073) (17,025) (31,449) (1,011) (7,613) (1,010)	Effects on Equity
28.535 6.5584 0.1524 1.1726 28.535 0.2577 28.535 6.5584 7.6905 0.1524 1.1726				- - - - 7,348 - - - - - -

－－ 61

Exchange rate		December 31, 2020	December 31, 2020	December 31, 2020
	Presented amount (New Taiwan Dollars) 1,533,891 654,169 129,005 729,644 844,145 3,604,751 128,531 128,394	Sensitivity Analysis
		Range of change Effects on profit or loss Up 1% 15,339 Up 1% 6,542 Up 1% 1,290 Up 1% - Up 1% (8,441) Up 1% (36,048) Up 1% (1,285) Up 1% (1,284) March31,2020		Effects on Equity
28.48 6.5294 1.2299 28.48 28.48 6.5294 8.025 1.2299 Exchange rate				- - - 7,296 - - -
	Presented amount (New Taiwan Dollars) 2,838,770 945,125 144,223 750,100 129,025 3,963,732 143,974	SensitivityAnalysis
		Range of change Up 1% Up 1% Up 1% Up 1% Up 1% Up 1% Up 1%	Effects on profit or loss 28,388 9,451 1,442 - (1,290) (39,637) (1,440)	Effects on Equity
30.225 7.0771 1.1034 30.225 30.225 7.0771 7.809				- - - 7,501 - - -

If NTD appreciates against the above-mentioned currencies, held all other variables constant, the impact generated as of March 31, 2021, December 31, 2020, and March 31, 2020 would stay the same with the reverse result.

c. Due to the exchange rate volatility, total exchange gains and losses (including realized and unrealized) from the Group’s monetary items

－－ 62

amounted to $(26,264) thousand and $8,813 thousand for the three months ended March 31, 2021 and 2020, respectively.

(B) Price risk

Since the Group’s investment in securities is classified as financial assets at FVTPL or financial assets at FVTOCI on the consolidated balance sheet, the Group does not expose to price risks of securities.

The Group mainly invests in domestic listed and unlisted stocks and beneficiary certificates. The price of such securities can be affected by changes in future value of those investment targets.

If the security price goes up or down by 1%, the post-tax profit or loss for the three months ended March 31, 2021 and 2020 will increase or decrease by $3,429 thousand and $7,085 thousand due to the increase or decrease of the fair value of financial assets measured at FVTPL. The post-tax other comprehensive income for the three months ended March 31, 2021 and 2020 will increase or decrease by $6,704 thousand and $6,312 thousand due to the increase or decrease of the fair value of financial assets measured at FVTOCI.

(C)Interest rate risk

The carrying amount of the Group’s financial assets and financial liabilities that are exposed to interest rate risk at the reporting date is stated as follows:

	CarryingAmount
March 31,2021 $973,968 (1,362,776) $(388,808) $4,472,111 (49,664,270) $(45,192,159)	December 31,2020 $1,223,521 (1,371,285) $(147,764) $3,705,050 (48,809,395) $(45,104,345)	March 31,2020
		$1,840,302 (1,020,119)
		$820,183
		$4,265,349 (50,594,056)
		$(46,328,707)

a. Sensitivity analysis of those with fair value interest rate risk:
The Group classifies its investment in preferred stocks with fixed income as financial assets measured at FVTPL. Fair value of such preferred stock investment changes in line with the interest rate changes in the market. If the market interest rate goes up 1% and other variables are held constant, the profit or loss will decrease by $1,699 thousand and $6,534 thousand for the three months ended March 31, 2021 and 2020, respectively.
b. Sensitivity analysis of those with cash flow interest rate risk:
The interest-fluctuate instruments possessed by the Group were floatinginterest assets (liabilities). Therefore the effective interest rate, as well as the future cash flows, changes along with the market movement. Every one percent increase in the market interest will decrease (increase) the net profit by $(112,980) thousand and $(115,822) thousand for the three months ended March 31, 2021 and 2020, respectively.

B. Credit risk

Credit risk refers to the risk of financial loss to the Group arising from default by counter-parties of financial instruments on the contract obligations. Credit risk

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of the Group mainly comes from receivables under operating activities and bank deposits and other financial instruments under investing activities. Credit risks related to operation and finance risks are managed separately.

Credit risk related to operations

To maintain the quality of accounts receivable, the Group has established the procedures for credit risk management with regards to its operations.

Risk assessment on individual customer includes factors that could affect the customer's ability to pay, such as the customer's financial status, the Group’s internal credit ratings, historical transactions and current economic conditions. Financial credit risk

The credit risks of bank deposits and other Financial instruments are measured and monitored by the Group’s financial departments. The Group does not expect significant credit risk because the counterparties are creditworthy and investment-graded financial institutions, companies and government agencies without any significant default concerns. In addition, the Group does not have any debt instrument investments that are either measured at amortized cost, or at FVTOCI.

(A) Credit concentration risk

As of March 31, 2021, December 31, 2020, and March 31, 2020 the top ten clients accounted for 51.50%, 48.61%, and 51.26% of the Group’s accounts receivable, indicating a credit concentration risk. However, no significant credit concentration risk was shown from the remaining accounts receivables.

(B) Measurement of expected credit impairment loss
a. Accounts receivables and contract assets apply the simplified approach. Please refer to Note 6.4. and 6.31 for details.
b. Indications for determining whether the credit risk is increased significantly: None (the Group does not have any debt instrument investments that are either measured at amortized cost, or at FVTOCI).
c. Collaterals and other credit enhancement held to avoid credit risks from financial assets:

The following table shows the maximum exposure to credit risk regarding financial assets recognized in the consolidated balance sheets, pledged collateral, master netting arrangements and other credit enhancement held by the Group:

Decreased	amount of maximumexposure to creditrisks	amount of maximumexposure to creditrisks	amount of maximumexposure to creditrisks
Collateral $ - - - $-	Net Settlement Agreement $ - - - $-	Other Credit Enhancement $ - - - $-	Total
			$ -
			- -
			$-

－－ 64

Decreased	amount of maximum exposure to credit risks	amount of maximum exposure to credit risks	amount of maximum exposure to credit risks
Collateral $ - - - $- Decreased	Net Settlement Agreement Other Credit Enhancement Total $ - $ - $ - - - - - - - $- $- $- amount of maximum exposure to credit risks Net Settlement Agreement Other Credit Enhancement Total $ - $ - $ - - - - - - - $- $ - $ -		Total
			$ -
			- -
			$-
Collateral $ - - - $-	Net Settlement Agreement $ - - - $-	Other Credit Enhancement $ - - - $ -

C.Liquidity risk

(A)Liquidity risk management

There were no significant changes in the Group's objects and policies for liquidity risk management for the three months ended March 31, 2021. Please refer to Note 12(2) of the consolidated financial statements for the year ended December 31, 2020 for the related information.

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(B)Analysis of financial liabilities

Non-derivative financial Liabilities			March31,2021	March31,2021	March31,2021
	Within 6 months	7-12 months	1-2 years	2-5 years	Over 5 years	Contractual cash flows $14,587,531 1,285,000 609,630 1,469,410 1,462,741 95,704 35,175,157 20,391 $54,705,564 $18,535	Carrying amount
Short-term loans Short-term notes and bills payable Notes payable Accounts payable Other payables Lease liabilities (including current) Long-term loans (including current portion) Guarantee deposits received Subtotal Derivative financial liabilities	$12,699,481 1,285,000 609,630 1,469,410 1,458,961 4,204 2,549,406 7,424	$1,888,050 - - - - 5,727 2,393,320 87	$ - - - - 3,780 9,003 12,009,915 957	$ - - - - - 23,413 9,919,256 2,524	$ - - - - - 53,357 8,303,260 9,399		$14,587,531 1,282,250 609,630 1,469,410 1,462,741 80,526 35,076,739 20,391
	$20,083,516	$4,287,184	$12,023,655	$9,945,193	$8,366,016		$54,589,218
	$18,535	$ -	$ -	$ -	$ -		$18,535

Further information on lease liability maturity analysis was as follows:

Lease liabilities Non-derivative financial Liabilities	Less than 1 year	1-5 years	5-10 years	5-10 years	10-15 years	10-15 years	15-20 years	Over 20 years $15,673	Total undiscounted lease payments
	$9,931	$32,416	$13,128		$12,278		$12,278		$95,704
			December31,2020
	Within 6 months	7-12 months	1-2 years	2-5 years		Over 5 years		Contractual cash flows $14,925,307 1,292,000 469,760 995,914 1,753,874 97,247 33,979,990 18,685 $53,532,777 $14,495 as follows: Over 20 years $15,673	Carrying amount
Short-term loans Short-term notes and bills payable Notes payable Accounts payable Other payables Lease liabilities (including current) Long-term loans (including current portion) Guarantee deposits received Subtotal Derivative financial liabilities	$12,089,375 1,292,000 469,760 995,914 1,753,874 4,198 3,005,392 1,211	$2,835,932 - - - - 5,721 2,329,412 1,131	$ - - - - - 8,992 7,745,904 3,272	$ - - - - - 24,896 9,072,657 7,186		$ - - - - - 53,440 11,826,625 5,885			$14,925,307 1,289,365 469,760 995,914 1,753,874 81,920 33,884,088 18,685
	$19,611,724	$5,172,196	$7,758,168	$9,104,739		$11,885,950			$53,418,913
	$14,495	$ -	$ -	$ -		$ -			$14,495
Further information on lease liability maturity analysis was Less than 1 year 1-5 years 5-10 years 10-15 years 15-20 years Lease liabilities $9,919 $33,888 $13,211 $12,278 $12,278									Total undiscounted lease payments
	$9,919	$33,888	$13,211		$12,278		$12,278		$97,247

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Non-derivative financial Liabilities				March 31,2020	March 31,2020
	Within 6 months	7-12 months	1-2 years	2-5 years	Over 5 years	Contractual cash flows $15,834,574 934,000 796,433 1,374,556 1,173,577 105,305 34,884,344 18,241 $55,121,030	Carrying amount
Short-term loans Short-term notes and bills payable Notes payable Accounts payable Other payables Lease liabilities (including current) Long-term loans (including current portion) Guarantee deposits received Subtotal	$14,352,402 934,000 796,339 1,374,556 1,173,577 5,751 1,404,875 1,896	$1,482,142 - 94 - - 3,296 2,400,858 2,554	$ - - - - - 9,250 9,724,583 542	$ - - - - - 26,533 14,342,638 10,124	$ - - - - - 60,475 7,011,390 3,125		$15,834,574 932,620 796,433 1,374,556 1,173,577 87,499 34,759,482 18,241
	$20,043,396	$3,888,974	$9,734,375	$14,379,295	$7,074,990		$54,976,982

Further information on lease liability maturity analysis was as follows:

Lease liabilities	Less than 1 year	1-5 years	5-10 years	10-15 years	15-20 years	Over 20 years Total undiscounted lease payments $19,397 $105,305
	$9,047	$35,783	$16,522	$12,278	$12,278

The Group does not expect a maturity analysis of which the cash flows timing would be significantly earlier, or the actual amount would be significantly different.

(2) Types of Financial instruments Financial assets March 31,2021 Financial assets measured at amortized cost Cash and cash equivalents $4,373,983 Notes receivables and accounts receivables (including related parties) 2,684,566 Other receivables(including related parties) 186,318 Other financial assets - current 982,973 Refundable deposits 234,528 Other financial assets - noncurrent 417,155 Financial assets at fair value through profit or loss - current 342,925 Financial assets at fair value through profit or loss - noncurrent - Financial assets at fair value through other comprehensive income or loss - noncurrent 670,424 Financial liabilities Financial liabilities measured at amortized costs Short-term loans 14,587,531 Short-term notes and bills payable 1,282,250 Notes receivables and accounts payable (including related parties) 2,079,040 Other payables (including related parties) 1,462,741	December 31,2020 $3,730,782 2,619,438 207,127 807,846 222,895 414,441 697,978 - 725,334 14,925,307 1,289,365 1,465,674 1,753,874	March 31,2020
		$4,411,238 3,327,839 345,597 1,184,584 937,151 540,208 421,954 290,877 631,150 15,834,574 932,620 2,170,989 1,173,577

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Financial assets Long-term loans (including current portion) Guarantee deposits Lease liabilities (including due within one year) Financial liabilities at fair value through profit or loss - current	March 31,2021 35,076,739 20,391 80,526 18,535	December 31,2020 33,884,088 18,685 81,920 14,495	March 31,2020
			34,759,482 18,241 87,499 -

(4) Fair Value Information:

For information on fair value of financial assets and financial liabilities not measured at fair value, please refer to Note 12(4)3.For fair value of investment property measured at cost, please refer to Note 6.14. For fair value of investments in associates with quoted prices in an open market, please refer to Note 6.11 for details.
Definition of the three levels in fair value Level 1

Quoted prices 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 Group’s investment in listed stocks, beneficiary certificates, on-the-run Taiwan central government bonds and derivative instruments with quoted market prices 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 Group’s investment in off-the-run government bonds, corporate bonds, bank debentures, convertible bonds and most derivative instruments is included in Level 2.

Level 3

Unobservable inputs for the asset or liability. The fair value of the Group’s investment in certain derivative instruments, equity investment without active market and investment properties is included in Level 3.

Financial instruments not measured at fair value Management of the Group thinks that the carrying amount of financial instruments not measured at fair value, including cash and cash equivalents, accounts receivables, other financial assets, refundable deposits, short term loans, short-term bills payable, accounts payable, lease liabilities (including current and noncurrent), long-term loans (including current portion), and deposits received, is the reasonable approximation of their fair value.
Fair value hierarchy: The fair value hierarchy of financial instrument is measured at fair value on a recurring basis. Information about the Group’s fair value hierarchy is disclosed in the following table:

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	March 31, 2021	March 31, 2021
Level 1 $58,315 - - 28,167 $86,482 $-	Level 2 Level 3 $ - $ - - 284,610 - 642,257 - - $- $926,867 $18,535 $- December 31, 2020		Total
			$58,315 284,610 642,257 28,167
			$1,013,349
			$18,535

Level 1 $35,327 - - 29,789 $65,116 $-	Level 2 $ - - - - $- $14,495	Level 3 $ - 662,651 695,545 - $1,358,196 $-	Total
			$35,327 662,651 695,545 29,789
			$1,423,312
			$14,495

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	March 31, 2020	March 31, 2020
Level 1 $39,277 - - - 16,812 $56,089	Level 2 $9,875 - 4,337 - - $14,212	Level 3 $ - 659,342 - 614,338 - $1,273,680	Total
			$49,152 659,342 4,337 614,338 16,812
			$1,343,981

Fair value valuation technique for instruments measured at fair value:
(1) The fair value of financial instruments with quoted prices in active markets is the quoted market prices. Market prices published by major trading centers and exchanges for on-the-run government bonds are the basis for the fair value of listed equity instruments and debt instruments with quoted prices in active markets. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm's length basis. If one of the conditions fails, the market is not deemed active. In general, indications of an inactive market include a wide bid-ask spread, a significant increase in the bid-ask spread and low level of trading volume.

The fair value of financial instruments with active markets held by the Group are stated by their natures and types as follows:

a. Listed stocks: closing prices
b. Open-end funds: net worth
(2) Except for financial assets with an active market, the fair value of other financial assets is obtained either based on the valuation technique or by reference to the quotes from counter-parties. Fair value can be obtained by using a valuation technique that refers to the fair value of financial instruments having substantially the same terms and characteristics, the discounted cash flow method, or other valuation technique e.g. the one that applies market information available on the balance sheet date to a pricing model for calculation.

The fair value of the Group’s holding of unlisted stocks for which no active market exists is estimated by using the market approach, which refers to the valuation of similar entities, quoted prices from a third party, the net worth of an entity and the operating performance. In addition, the significant unobservable inputs mainly comprise liquidity discount, in which the possible changes would not result in a potentially material financial effect. Therefore, the Group does not disclose the quantitative information.

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(3) When evaluating financial instruments that are non-standard and with lower complexity, e.g. debt instruments with no active markets, interest rate swaps, foreign exchange swaps and options, the Group adopts valuation techniques that are commonly used by market participants. The parameters used in the valuation models for those financial instruments are normally observable data in the market.
(4) Valuation of derivative financial instruments adopts valuation models that are commonly used by market participants, e.g. discounted cash flows method and option pricing model.
(5) Outputs from the valuation models are estimates and valuation techniques may not be able to reflect all relevant factors of the financial and non-financial instruments held by the Group. Therefore, when needed, estimates from the valuation model would be adjusted based on additional parameters, e.g. model risk or liquidity risk. According to the Group's policies of fair value valuation management and relevant control procedures, the Group's management considers that valuation adjustments as being necessary and appropriate for a fair and just presentation of financial and non-financial instruments on the consolidated balance sheet. Every price data and parameters used in the valuation is reviewed thoroughly and adjusted for current market conditions.
(6) The Group incorporates the adjustment of credit risk assessment into the fair value measurement of financial and non-financial instruments to reflect the credit risk of counter-party and the credit quality of the Group.
Transfers between Level 1 and Level 2 fair value hierarchy: None.
Statement of changes in Level 3 fair value hierarchy:

Item Beginning balance Sale Transferred to Investments accounted for using equity method Recognized in profit and loss Recognized in other comprehensive income Ending balance	Investment in unquoted financial instruments	Investment in unquoted financial instruments
	Three Months Ended March 31
	2021 $1,358,196 (29,925) (379,811) 1,770 (23,363) $926,867	2020
		$1,332,041 - - 3,301 (61,662)
		$1,273,680

Valuation process for Level 3 fair value measurement: Valuation process regarding fair value Level 3 is conducted by the Group’s finance department, by which the independence of fair value of financial instruments is verified though use of independent data source in order to make the valuation results close to market conditions. Such valuation results are regularly reviewed so as to ensure their reasonableness.

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(5) Transfer of financial assets:

1. Transferred financial assets fully derecognized

The Group entered accounts receivable factoring agreement with Chang Hwa Bank. According to the contract, the Group does not bear the risk of default over the transferred accounts receivables but only the loss from trade disputes. As the Group did not have any continued participation over those transferred accounts receivables, they were derecognized from the accounts. Information on outstanding receivables was as follows:

March 31, 2021 ：

Counter-party Factoring Amount Amount Collected in Cash Chang Hwa Bank $2,001 (EUR 58) - December 31, 2020： Counter-party Factoring Amount Amount Collected in Cash Chang Hwa Bank $ - (EUR -) - March 31, 2020： Counter-party Factoring Amount Amount Collected in Cash Chang Hwa Bank $13,512 (EUR 409) -	Advance Amount - End of the Period $1,801 (EUR 52) Advance Amount - End of the Period $ - (EUR -) Advance Amount - End of the Period $12,161 (EUR 368)	Annual Interest Rate for the Advance Amount 1.16464% Annual Interest Rate for the Advance Amount - Annual Interest Rate for the Advance Amount 1.16464%	Line of Credit
			EUR 3,200 Line of Credit
			EUR 3,200 Line of Credit
			EUR 3,200

Transferred financial assets not fully derecognized: None

(6) Offsetting financial assets and financial liabilities: None.

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13. SUPPLEMENTARY DISCLOSURES

A. Significant transactions information
(a)Financing provided to others (Table 1)
(b)Endorsements/guarantees provided (Table 2)
(c)Marketable securities held (excluding investments in subsidiaries and associates) (Table 3)
(d)Marketable securities acquired and disposed of at costs or prices of at least NT$300 million or 20% of the paid-in capital (None.)
(e)Acquisition of individual real estate at costs of at least NT$300 million or 20% of the paid-in capital (Table 4)
(f)Disposal of individual real estate at prices of at least NT$300 million or 20% of the paid-in capital (Table 5)
(g)Total purchases from or sales to related parties amounting to at least NT$100 million or 20% of the paid-in capital (Table 6)
(h)Receivables from related parties amounting to at least NT$100 million or 20% of the paid-in capital (Table 7)
(i)Trading in derivative instruments (Note 6.2)
(j)The business relationship between the parent and the subsidiaries and significant transactions between them(Table 8)
B. Information on investees (Table 9)
C. Information on investments in mainland China (Table 10)
D. Information of major shareholders: List all shareholders with a stake of 5 percent or greater in shareholding percentage and the number of shares. (Table 11)

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TABLE 1

Yieh Phui Enterprise Co., Ltd. and Subsidiaries Financing provided to others March 31, 2021

Unit: Thousands of NT Dollar/ Foreign Currency

No.	Creditor	Borrower	General ledger account	Related party	Maximum outstanding balance for the period	Ending balance	Amount actually drawn	Interest rate	Nature of loan	Transaction amount	Reason for short-term financing	Allowance for doubtful accounts	Collateral	Collateral	Limit on loans granted to a single party	Ceiling on total loans granted
													Item	Value
1	Yieh Phui (Hong Kong) Holdings Limited	Yieh Phui (China) Technomaterial Co., Ltd.	Long-term receivable – related party and Other receivables - relatedparty	Y	2,258,176 (RMB 6,930) (USD 73,333) (EUR 3,655)	2,233,741 (RMB 53,000) (USD 66,670) (EUR 3,010)	2,227,650 (RMB 51,600) (USD 66,670) (EUR 3,010)	2.00%- 7.34%	2	－	Operating capital	－	－	－	10,991,781 (Note 3)	10,991,781 (Note 3)
		Yieh Phui Enterprise Co., Ltd.	Other receivables - relatedparty	Y	142,675 (USD 5,000)	142,675 (USD 5,000)	142,675 (USD 5,000)	2.00%	2	－	Operating capital	－	－	－	10,991,781 (Note 3)	10,991,781 (Note 3)
2	Yieh Phui (China) Technomaterial Co.,Ltd.	Tianjin Lianfa Precision Steel Corporation	Long-term receivable – relatedparty	Y	109,830 (RMB 25,000)	108,773 (RMB 25,000)	108,773 (RMB 25,000)	4.00%	2	－	Operating capital	－	－	－	10,991,781 (Note 3)	10,991,781 (Note 3)
3	Kuo Chang Enterprise Co., Ltd.	United Brightening Development Corp.	Other receivables - relatedparty	Y	25,000	25,000	－	3.00%	2	－	Operating capital	－	－	－	314,652 (Note 2)	314,652 (Note 1)
4	Shin Yang Steel Co., Ltd.	Yieh Phui (Hong Kong) Holdings Limited	Other receivables - relatedparty	Y	176,576 (USD 6,200)	28,535 (USD 1,000)	28,535 (USD 1,000)	2.00%	2	－	Operating capital	－	－	－	333,274 (Note 2)	333,274 (Note 1)
5	Applied Wireless Identifications Group, Inc.	Yieh Phui (Hong Kong) Holdings Limited	Other receivables - relatedparty	Y	62,777 (USD 2,200)	62,777 (USD 2,200)	62,777 (USD 2,200)	3.00%	2	－	Operating capital	－	－	－	92,558 (Note 2)	92,558 (Note 1)

(Note 1) The maximum amount of total loans to others shall not exceed 40% of the creditor's net worth.

(Note 2) The maximum amount of loans granted to a single entity shall not exceed 40% of the creditor's net worth.

(Note 3) Total loans between foreign entities that are 100% owned directly or indirectly by the Company shall not exceed 40% of the Company’s net worth and loans to a single entity shall not exceed 40% of the Company’s net worth.

(Note 4) Nature of loans is classified as follows: Entities having business relations with the Company is ‘1’; entities with needs for short-term financing is ‘2’.

(Note 5) Transactions between the aforesaid subsidiaries and the parent company have been written off.

－－ 74

TABLE 2

Yieh Phui Enterprise Co., Ltd. and Subsidiaries Endorsements/guarantees provided March 31, 2021

Unit: Thousands of NT Dollar/ Foreign Currency

No.	Endorser/ guarantor	Party being endorsed/guaranteed	Party being endorsed/guaranteed	Limit on endorsement/ guarantees provided for a single party	Maximum balance for the period	Ending balance	Amount actually drawn	Amount of endorsement/ guarantees collateralized by properties	Ratio of accumulated endorsement/ guarantee to net equity per latest financial statement	Maximum endorsement/ guarantee allowable	Guarantee provided by parent company to subsidiary	Guarantee provided by a subsidiary to parent company	Guarantee provided to subsidiaries in Mainland China
		Company name	Relationship with the endorser/ guarantor
0	Yieh Phui Enterprise Co., Ltd. (Note 1)	Yieh Phui (China) Technomaterial Co., Ltd.	Investee of the Company’s Sub-subsidiary	27,479,452	8,538,641 (RMB 1,962,500)	8,538,641 (RMB 1,962,500)	1,468,429 (RMB 337,500)	－	31.07%	27,479,452	Y	－	Y
		Shin Yang Steel Co., Ltd.	Subsidiary of the Company	27,479,452	1,236,000	1,236,000	755,292	336,000	4.50%	27,479,452	Y	－	－
		Yieh Phui (Hong Kong) Holdings Limited	Subsidiary of the Company	27,479,452	4,223,180 (USD 148,000)	3,138,850 (USD 110,000)	2,667,862 (USD 63,200) (RMB 175,535) (EUR 3,010)	－	11.42%	27,479,452	Y	－	－
1	Shin Phui Steel Corporation (Note 2)	Yieh Phui Enterprise Co., Ltd.	Parent company of the company	1,252,190	942,230	942,230	942,230	942,230	376.23%	1,252,190	－	Y	－
2	Kings Garden International Co., Ltd. (Note 3)	Great Emperor Hotel Co., Ltd.	(Note 9)	31,468,376	8,175,000	8,175,000	7,731,000	8,175,000	181.85%	31,468,376	－	－	－
3	Great Emperor Hotel Co., Ltd. (Note 4)	Kings garden International Co., Ltd.	(Note 9)	33,069,283	7,583,000	7,583,000	6,940,000	7,583,000	160.51%	33,069,283	－	－	－
4	Shin Yang Steel Co., Ltd. (Note 6)	Yieh Phui Enterprise Co., Ltd.	Parent company of the company	2,499,554	900,000	900,000	350,000	900,000	108.02%	2,499,554	－	Y	－
5	Yieh Phui (China) Technomaterial Co., Ltd. (Note 5)	Tianjin Lianfa Precision Steel Corporation	Subsidiary of the Company	9,911,057	43,624 (RMB 9,930)	43,204 (RMB 9,930)	43,204 (RMB 9,930)	－	0.44%	9,911,057	Y	－	Y
6	Sin Bang Investment & Development Co., Ltd.(Note 7)	United Brightening Development Corp.	The same ultimate parent company	465,909	200,000	200,000	200,000	200,000	85.85%	465,909	－	－	－

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(Note 1): The maximum amount of endorsement/guarantee provided by the Company shall not exceed the Company’s net worth. The same limit applies to the endorsement/guarantee provided by the Company to a single subsidiary.
(Note 2): The maximum amount of endorsement/guarantee provided by Shin Phui Steel Corporation shall not exceed 5 times of Shin Phui’s net worth. The same limit applies to the endorsement/guarantee provided by Shin Phui Steel Corporation to a single entity.
(Note 3): The maximum amount of endorsement/guarantee provided by Kings Garden International Co., Ltd. shall not exceed 7 times of Kings Garden’s net worth. The same limit applies to the endorsement/guarantee provided by Kings Garden International Co., Ltd. to a single entity.
(Note 4): The maximum amount of endorsement/guarantee provided by Great Emperor Hotel Co., Ltd. shall not exceed 7 times of Great Emperor Hotel’s net worth. The same limit applies to endorsement/guarantee provided by Great Emperor Hotel Co., Ltd. to a single entity.
(Note 5): The maximum amount of endorsement/guarantee provided by Yieh Phui (China) Technomaterial Co., Ltd. shall not exceed the net worth of Yieh Phui (China) Technomaterial Co., Ltd. The same limit applies to the endorsement/guarantee provided Yieh Phui (China) Technomaterial Co., Ltd. to a single subsidiary.
(Note 6): The maximum amount of endorsement/guarantee provided by Shin Yang Steel Co., Ltd. shall not exceed 3 times of Shin Yang’s net worth. The same limit applies to the endorsement/guarantee provided by Shin Yang Steel Co., Ltd. to a single entity.
(Note 7) : The maximum amount of endorsement/guarantee provided by Sin Bang Investment & Development Co., Ltd. shall not exceed 2 times of Sin Bang’s net worth. The same limit applies to the endorsement/guarantee provided by Sin Bang Investment & Development Co., Ltd. to a single entity.
(Note 8): The net worth referred to above is based on the latest financial statements audited or reviewed by independent auditors. (Note 9): Mutually guaranteed companies based on the need of construction contract.

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TABLE 3

Yieh Phui Enterprise Co., Ltd. and Subsidiaries Marketable securities held (excluding investments in subsidiaries and associates) March 31, 2021

Unit: Thousand Shares；Thousands of NT Dollar/ Foreign Currency

Securities held by	Marketable securities	Relationship with the securities issuer	General ledger account	As of March 31, 2021	As of March 31, 2021	As of March 31, 2021	As of March 31, 2021
				Shares (in thousands)	Carrying value	Ownership (%)	Fair value
Yieh Phui Enterprise Co., Ltd.	Fund/ Fubon 3-Year Maturity Asia USD Bond Fund	None	Financial assets at fair value through profit or loss - current	500	4,512	－	4,512
	Fund/Taishin ESG Emerging Markets Bond Fund	None	Financial assets at fair value through profit or loss - current	500	4,908	－	4,908
	Fund/Mega Emerging Market Short Duration High Yield Bond Fund	None	Financial assets at fair value through profit or loss - current	800	7,961	－	7,961
	Fund/UBS (TW) Bond Fund - Fixed Income Fund	None	Financial assets at fair value through profit or loss - current	300	2,912	－	2,912
	Fund/Schroder All Cycle Income Fund	None	Financial assets at fair value through profit or loss - current	300	3,021	－	3,021
	Fund/AB - American Growth Portfolio	None	Financial assets at fair value through profit or loss - current	7	5,128	－	5,128
	Fund/AB - Global High Yield Portfolio	None	Financial assets at fair value through profit or loss - current	14	4,962	－	4,962
	Fund/UBS (TW) Bond Fund - Emerging Markets Bonds 2027	None	Financial assets at fair value through profit or loss - current	500	5,050	－	5,050
	Preferred stock/ Eliter International Corp.- Preferred stock E	An investee accounted for usingequitymethod	Financial assets at fair value through profit or loss - current	19,706	214,706	－	214,706
		Total			253,160		253,160
	Stock/ TaiwanVes-Power Co., Ltd.	Related party in substance	Financial assets at fair value through other comprehensive income or loss - noncurrent	1,800	63,472	3.60%	63,472
	Stock/ New Spring Construction Corp.	Related party in substance	Financial assets at fair value through other comprehensive income or loss - noncurrent	15,863	115,369	15.49%	115,369
	Stock/ Ascentke Venture Capital Corp.	None	Financial assets at fair value through other comprehensive income or loss - noncurrent	85	6,208	6.42%	6,208
	Stock/ Taiwan Implant Technology Company, Ltd.	None	Financial assets at fair value through other comprehensive income or loss - noncurrent	701	6,378	4.20%	6,378

－－ 77

Securitiesheld by	Marketable securities	Relationship with the securities issuer	General ledger account	As of March 31, 2021	As of March 31, 2021	As of March 31, 2021	As of March 31, 2021
				Shares (in thousands)	Carrying value	Ownership (%)	Fair value
Yieh Phui Enterprise Co., Ltd.	Stock/ Sunny Bank	None	Financial assets at fair value through other comprehensive income or loss - noncurrent	4,541	37,891	0.16%	37,891
	Stock/ Universal Venture Capital Investment Co., Ltd.	None	Financial assets at fair value through other comprehensive income or loss - noncurrent	1,100	6,218	0.91%	6,218
	Stock/ Yieh Corporation Limited	Related party in substance	Financial assets at fair value through other comprehensive income or loss - noncurrent	200	80,418	4.35%	80,418
	Stock/ Pacific Harbor Stevedoring Corporation	Director of the entity is the Company’s director	Financial assets at fair value through other comprehensive income or loss - noncurrent	150	4,353	3.00%	4,353
	Stock/ ImageDJ Software Corp.	None	Financial assets at fair value through other comprehensive income or loss - noncurrent	24	535	0.96%	535
	Stock/ Chao-Feng Venture Capital Co., Ltd.	None	Financial assets at fair value through other comprehensive income or loss - noncurrent	1,000	7,859	0.79%	7,859
	Stock/ Skylark International Hotel Co., Ltd.	Related party in substance	Financial assets at fair value through other comprehensive income or loss - noncurrent	20,528	282,824	13.68%	282,824
	Stock/ Neolink Capital Corp.	None	Financial assets at fair value through other comprehensive income or loss - noncurrent	3,000	26,379	2.57%	26,379
	Stock/ Asia Pacific Telecom Co., Ltd.	None	Financial assets at fair value through other comprehensive income or loss - noncurrent	2,949	28,167	0.08%	28,167
		Total			666,071		666,071
Worthing Honor Holdings Ltd.	Stock/ SEE Corporation None Financial assets at fair value throughprofit	None	Financial assets at fair value through profit or loss - current	1	－	－	－
Kings Garden International Co., Ltd.	Fund/FSITC AI Global Precision Medicine Fund	None	Financial assets at fair value through profit or loss - current	208	3,065	－	3,065
EMMT Systems Corporation	Stock/ Rodan (Taiwan) Ltd.	None	Financial assets at fair value through other comprehensive income or loss - noncurrent	17	－	0.73%	－
Kuo Chang Enterprise Co., Ltd.	Preferred stock/ Eliter International Corp.- Preferred stock E	An investee of the Parent Company under equity method.	Financial assets at fair value through profit or loss - current	1,498	16,209	－	16,209
United Brightening Development Corp.	Preferred stock/ Eliter International Corp.- Preferred stock E	An investee of the Parent Company under equity method.	Financial assets at fair value through profit or loss - current	479	5,187	－	5,187

－－ 78

Securities held by	Marketable securities	Relationship with the securities issuer	General ledger account	As of March 31, 2021	As of March 31, 2021	As of March 31, 2021	As of March 31, 2021
				Shares (in thousands)	Carrying value	Ownership (%)	Fair value
Yieh Hsing Enterprise Co., Ltd	Fund/TCB US Short Duration High Yield Bond Fund	None	Financial assets at fair value through profit or loss - current	100	950	－	950
	Fund/UBS (TW) Bond Fund - Emerging Asian Markets Bonds 2026	None	Financial assets at fair value through profit or loss - current	200	1,981	－	1,981
	Fund/Mega Emerging Market Short Duration High Yield Bond Fund	None	Financial assets at fair value through profit or loss - current	300	2,986	－	2,986
	Fund/Taishin ESG Emerging Markets Bond Fund	None	Financial assets at fair value through profit or loss - current	300	2,945	－	2,945
	Fund/UBS (TW) Bond Fund - Fixed Income Fund of Funds	None	Financial assets at fair value through profit or loss - current	300	2,913	－	2,913
	Fund/Schroder All Cycle Income Fund	None	Financial assets at fair value through profit or loss - current	300	3,021	－	3,021
	Fund/UBS (TW) Bond Fund - Emerging Markets Bonds 2027	None	Financial assets at fair value through profit or loss - current	200	2,000	－	2,000
	Preferred stock/Eliter International Corp.- Preferred stock E	An investee accounted for usingequitymethod	Financial assets at fair value through profit or loss - current	4,450	48,508	－	48,508
	Total				65,304	－	65,304
	Stock/ Pacific Harbor Stevedoring Corporation	Director of the entity is the Company’s chairman	Financial assets at fair value through other comprehensive income - noncurrent	150	4,353	3.00%	4,353

－－ 79

TABLE 4

Yieh Phui Enterprise Co., Ltd. and Subsidiaries Acquisition of individual real estate at costs of at least NT$300 million or 20% of the paid-in capital For Three Months Ended March 31, 2021

							Unit: Thousands of NT Dollar	Unit: Thousands of NT Dollar	Unit: Thousands of NT Dollar	Unit: Thousands of NT Dollar	Unit: Thousands of NT Dollar	Unit: Thousands of NT Dollar	Unit: Thousands of NT Dollar
Company name	Real estate	Transaction date	Transaction amount	Payment terms	Counterparty	Relationship with the seller	Prior transaction of related counterparty				Price reference	Purpose of acquisition	Other terms
							Owner	Relationship	Transfer Date	Amount
Kings Garden International Co., Ltd.	Construction of commercial building at E-da Asia Plaza	January 28, 2014 ~ January 28, 2021	5,803,855	5,313,302	New Spring Construction Corp., Taiwan Cement Corporation, Yieh Hsing Enterprise Co., Ltd. and Yieh Phui Enterprise Co., Ltd. Union Engineering Co., Ltd. Teco Electric & Machinery Co., Ltd., Hsin.Kao Gas Co,. Ltd. etc.	Related party in substance, Parent company, ultimate parent company	－	－	－	－	Determined at prices agreed on by both parties upon negotiation or through price comparison with reference to appraisal reports issued by professional appraisal institutions	To build a boutique shopping mall	None
Great Emperor Hotel Co., Ltd.			6,448,292	5,753,774								For development of an international hotel

Note: Transactions between the aforesaid subsidiaries and the parent company are eliminated.

－－ 80

TABLE 5

Yieh Phui Enterprise Co., Ltd. and Subsidiaries Disposal of individual real estate at prices of at least NT$300 million or 20% of the paid-in capital For Three Months Ended March 31, 2021

									Unit: Thousands of NT Dollars	Unit: Thousands of NT Dollars	Unit: Thousands of NT Dollars
Real estate disposed by	Real estate	Transaction date or date of the event	Acquisition date	Carrying value	Transaction amount(Note )	Status of collection of proceeds	Gain (loss) on disposal	Counterparty	Relationship with the seller	Reason for disposal	Price reference	Other terms
Yieh Phui Enterprise Co., Ltd.	No.0001-0062, Pingnan Section, Fangliao Township	December 1, 2020	June 6, 2006	159,643	698,927	Fully recovery	539,284	Shenfeng Special Application Materials Co., Ltd.	－	Enrich the working capital of the company	Evermore Valuation Real Estate Appraisal Firm	None

(Note): The amount of the contract price without tax minus the necessary fee.

－－ 81

TABLE 6

Yieh Phui Enterprise Co., Ltd. and Subsidiaries Total purchases from or sales to related parties amounting to at least NT$100 million or 20% of the paid-in capital For Three Months Ended March 31, 2021

							Unit: Thousands of NT Dollars/Foreign Currency	Unit: Thousands of NT Dollars/Foreign Currency	Unit: Thousands of NT Dollars/Foreign Currency	Unit: Thousands of NT Dollars/Foreign Currency	Unit: Thousands of NT Dollars/Foreign Currency
Purchaser/ seller	Counterparty	Relationship with the counterparty		Transaction			Differences in transaction terms compared to third party transactions		Notes/accounts receivable (payable)		Note
			Purchases (sales)	Amount	Percentage of total purchases (sales)	Credit term	Unit price	Credit term	Balance	Percentage of total notes/accounts receivable (payable)
Yieh Phui Enterprise Co., Ltd.	Yieh Hong Enterprise Co., Ltd.	Related party in substance	Purchases			T/T or Sight L/C before goods acceptance.	－	－	－	－	－
				1,256,563	19.75%

	Yieh Corporation Limited	Related party in substance	Sales			1-2 months	－	－	－	－	Accounts receivable
				166,063	2.35%

	Asiazone Co., Limited	An investee accounted for using equitymethod	Sales			1-2 months	－	－	75,333	5.49%	Accounts receivable
				327,891	4.65%

	Shin Yang Steel Co., Ltd.	Subsidiary of the Company	Sales	248,708	3.53%	1-2 months	－	－	11,030	0.80%	Accounts receivable
Shin Yang Steel Co., Ltd.	Yieh United Steel Corporation	An investee accounted for using equity method	Purchases	122,511	20.64%	T/T or Sight L/C before goods acceptance.	－	－	3,879	7.45%	Accounts payable
Yieh Phui (China) Technomaterial Co.,Ltd.	Tianjin Lianfa Precision Steel Corporation	Subsidiaries	Sales	378,103 (RMB 86,543)	3.93 %	1-2 months	－	－	196,599 (RMB 45,186)	31.23%	Accounts receivable
Yieh Hsing Enterprise Co., Ltd.	Yieh United Steel Corporation	An investee accounted for using equity method	Purchases	849,182	60.30%	T/T or Sight L/C before goods acceptance.	－	－	－	－	－

Note: Transactions between the aforesaid subsidiaries and the parent company are eliminated.

－－ 82

TABLE 7

Yieh Phui Enterprise Co., Ltd. and Subsidiaries Receivables from related parties amounting to at least NT$100 million or 20% of the paid-in capital For Three Months Ended March 31, 2021

					Unit: Thousands of NT Dollars/Foreign Currency	Unit: Thousands of NT Dollars/Foreign Currency	Unit: Thousands of NT Dollars/Foreign Currency	Unit: Thousands of NT Dollars/Foreign Currency
Creditor	Counterparty	Relationship with the counterparty	Ending balance	Turnover rate	Overdue	receivables	Amount collected subsequent to the end of the reporting period (Note 2)	Allowance for doubtful accounts
					Amount	Action taken
Yieh Phui (Hong Kong) Holdings Limited	Yieh Phui (China) Technomaterial Co., Ltd.	Subsidiaries	2,227,650 (RMB 51,600) (USD 66,670) (EUR3,010)	(Note 1)	－	－	USD 9,500	－
	Yieh Phui Enterprise Co.,Ltd.	Parent company	142,675 (USD5,000)	(Note 1)	－	－	－	－
Yieh Phui (China) Technomaterial Co., Ltd.	Tianjin Lianfa Precision Steel Corporation	Subsidiaries	108,773 (RMB 25,000)	(Note 1)	－	－	－	－
			196,599 (RMB 45,186)	8.87	－	－	RMB 45,186	－

(Note 1): These are accounts receivable financing, on which the calculation of turnover doesn’t apply. (Note 2): Amounts received as of May 5, 2021.

(Note 3): Transactions between the aforesaid subsidiaries and the parent company have been written off.

－－ 83

TABLE 8

Yieh Phui Enterprise Co., Ltd. and Subsidiaries Intercompany Relationship and Significant Intercompany Transactions For Three Months Ended March 31, 2021

Individual transactions not exceeding NT$50,000 thousand are not disclosed. Transactions disclosed in assets or revenue will not be disclosed in the opposite transaction.

Unit: Thousands of NT Dollars/Foreign Currency

				Unit: Thousands of NT Dollars/Foreign Currency	Unit: Thousands of NT Dollars/Foreign Currency	Unit: Thousands of NT Dollars/Foreign Currency	Unit: Thousands of NT Dollars/Foreign Currency
Number (Note 1)	Company name	Counterparty	Relationship (Note 2)	Transaction
				Account	Amount	Transaction terms	Percentage of consolidated total operating revenues or total assets (Note 3)
0	Yieh Phui Enterprise Co., Ltd.	Shin Phui Steel Corporation	1	Right-of-use asset	70,100	－	0.08%
				Sales revenue	68,534	－	0.37%
		Shin Yang Steel Co., Ltd.	1	Sales revenue	248,708	－	1.33%
1	Yieh Phui (Hong Kong) Holdings Limited	Yieh Phui (China) Technomaterial Co., Ltd.	1	Long-term receivables	2,227,650	－	2.59%
					(RMB 51,600)
					(USD 66,670)
					(EUR 3,010)
		Yieh Phui Enterprise Co., Ltd.	2	Other receivables	142,675	－	0.17%
					(USD 5,000)
2	Yieh Phui (China) Technomaterial Co., Ltd.	Tianjin Lianfa Precision Steel Corporation	1	Sales revenue	378,103	－	2.02%
					(RMB 86,543)
				Accounts receivable	196,599 (RMB 45,186)	－	0.23%
				Long-term receivables	108,773 (RMB 25,000)	－	0.13%
3	APPLIED WIRELESS IDENTIFICATIONS GROUP,INC.	Yieh Phui (Hong Kong) Holdings Limited	3	Long-term receivables	62,777 (USD 2,200)	－	0.07%

－－ 84

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: Transactions between the aforesaid subsidiaries and the parent company have been written off.

－－ 85

TABLE 9

Yieh Phui Enterprise Co., Ltd. and Subsidiaries Information on Investees For Three Months Ended March 31, 2021

Unit: Thousands of NT Dollar/ Foreign Currency

						Unit: Thousands of NT	Unit: Thousands of NT	Unit: Thousands of NT	Dollar/ Foreign	Currency
Investor	Investee	Location	Main business activities	Initial investment amount		Shares held as the period-end			Net Income (Loss) of the Investee	Share of Profit/Loss of Investee	Note
				March 31, 2021	December 31, 2020	Shares (in thousands)	Percentage of Ownership	Carrying Value
Yieh Phui Enterprise Co., Ltd.	Yieh Phui (Hong Kong) Holdings Limited	Hong Kong	Investment	7,455,887	7,455,887	233,500	100%	9,857,493	387,664	387,664
	Champion Logistic Inc.	Samoa	Investment	118,287	118,287	90	89.66%	4,781	-	-
	Eliter International Corp.	Kaohsiung City	Construction of buildings	2,833,595	2,833,595	283,584	30.06%	2,653,954	(41,464)	3,148
	Yieh Hsing Enterprise Co., Ltd.	Kaohsiung City	Wire rods trading	2,261,296	2,261,296	304,654	57.41%	977,626	18,194	13,172
	Tangeng Iron Works Co., Ltd.	Kaohsiung City	Steel trading	1,453,572	1,453,572	39,553	11.30%	1,161,335	55,885	6,316
	E-Da Development Corp.	Kaohsiung City	Leisure development	2,096,196	2,096,196	209,619	28.44%	1,096,717	(56,860)	(16,172)
	United Brightening Development Corp.	Kaohsiung City	Technical consultation for steel products manufacturing	1,815,593	1,815,593	150,893	95.56%	1,414,851	(31,449)	(30,053)
	Shin Yang Steel Co., Ltd.	Kaohsiung City	Steel products related business	870,000	870,000	87,696	100%	860,770	26,252	26,329
	Yieh Mau Corp.	Kaohsiung City	Trading & manufacturing	422,605	422,605	52,658	23%	700,910	4,641	1,067
	Kuo Chang Enterprise Co., Ltd.	Kaohsiung City	Wholesale of hardware	1,356,261	1,356,261	107,370	99.04%	1,068,220	6,493	6,431
	Asiazone Co., Limited	Hong Kong	Steel trading	595,424	595,424	15,090	32.80%	641,842	8,207	2,692
	Shin Phui Steel Corporation	Kaohsiung City	Trading of steel products	214,236	214,236	23,917	100%	255,279	2,174	2,457
	Sin Bang Investment & Development Co.,Ltd.	Kaohsiung City	Investment	263,709	284,709	19,103	100%	213,111	1,099	1,099

－－ 86

Investor	Investee	Location	Main business activities	Initial investment amount	Initial investment amount	Shares held as theperiod-end	Shares held as theperiod-end	Shares held as theperiod-end	Net Income (Loss) of the Investee	Share of Profit/Loss of Investee	Note
				March 31, 2021	December 31, 2020	Shares (in thousands)	Percentage of Ownership	Carrying Value
Yieh Phui Enterprise Co., Ltd.	EMMT Systems Corporation	Taichung City	Manufacturing and marketing of military specification printed circuit boards	310,347	310,347	40,033	78.51%	558,462	36,709	28,820
	Good Honor Holdings Ltd.	British Virgin Islands	Investment	14,723	14,723	46	100%	3,905	(3)	(3)
	Gen-Wan Technology Corp.	Kaohsiung City	Telecommunication	148,610	148,610	3,293	86.99%	46,895	2,708	2,356
	Cheng Shin Security Co., Ltd.	Kaohsiung City	Security	14,000	14,000	1,400	35%	8,648	(2,715)	(950)
	E-Da Bus Transportation Co., Ltd.	Kaohsiung City	Bus transportation	49,755	49,755	1,845	17.09%	-	(9,286)	(684)
	E-DA Tour Bus Co., Ltd.	Kaohsiung City	Bus transportation	20,900	20,900	1,349	19%	13,103	(26)	(5)
	Worthing Honor Holdings Ltd.	British Virgin Islands	Investment	6,672	6,672	100	100%	2,634	-	-
	E United Japan Co., Ltd.	Japan	Steel trading	8,027	8,027	-	47%	3,916	106	50
	Skylark Hot Spring & Resort Corp.	Kaohsiung City	Hotel industry	11,700	11,700	1,170	14.63%	-	(648)	-
	E-Da Entertainment Co., Ltd.	Kaohsiung City	Entertainment industry	74,100	74,100	7,410	19%	44,917	(1,032)	(196)
	Li Hui Development Co., Ltd.	Kaohsiung City	Investment	321,216	321,216	64,045	44.56%	303,460	(15,054)	(6,709)	(Note 1)
	Ji Chang Enterprise Co., Ltd.	Kaohsiung City	Investment	5,050	5,050	1,042	45%	4,687	(12)	(5)	(Note 1)
	Yieh United Steel Corporation	Kaohsiung City	Steel products related businesses	5,023,625	5,023,625	676,661	25.82%	2,726,007	285,428	73,705	(Note 1)
	Hong Yuh Assets Management Co.,Ltd.	Kaohsiung City	Management service	1,167,200	1,167,200	119,920	80%	403,013	(12,655)	(10,124)

－－ 87

Investor	Investee	Location	Main business activities	Initial investment amount	Initial investment amount	Shares held as the period-end	Shares held as the period-end	Shares held as the period-end	Net Income (Loss) of the Investee	Share of Profit/Loss of Investee	Note
				March 31, 2021	December 31, 2020	Shares (in thousands)	Percentage of Ownership	Carrying Value
Yieh Phui Enterprise Co., Ltd.	E-Da Visual Effects Company Limited.	Kaohsiung City	Entertainment industry	10,393	10,393	1,470	49%	-	(1,052)	-
	Lian So(H.K) Co., Limited	Hong Kong	Investment	507,342	507,342	16,560	80%	270,642	(6,594)	(5,275)
	E-Da Health Biotechnology Co., Ltd.	Kaohsiung City	Manufacturer of food additives	3,800	3,800	380	19%	3,690	(9)	(2)
	Yieh Phui America Inc.	U.S.	Trading of steel products	292	292	1	100%	21,931	9,832	9,832
	Great Emperor Hotel Co., Ltd.	Kaohsiung City	Hotel industry	2,595,600	2,595,600	252,000	54.55%	2,466,507	(46,609)	(25,423)
	Prepayment for stock subscription - Great Emperor Hotel Co., Ltd.	Kaohsiung City	Hotel industry	202,254	-	-	-	202,254	-	-
	Kings Garden International Co., Ltd.	Kaohsiung City	Leasing, sales, and development of residential and commercial buildings, department stores	2,193,900	2,193,900	213,000	50.12%	2,083,098	(9,712)	(4,868)
	Prepayment for stock subscription - Great Emperor Hotel Co., Ltd.	Kaohsiung City	Leasing, sales, and development of residential and commercial buildings, department stores	339,066	209,066	-	-	339,066	-	-
	Total			34,785,233	34,473,979	-	-	30,413,724	610,212	464,669
Shin Phui Steel Corporation	Groupco Technology Inc.	Taichung City	RADIO	37,492	37,492	3,830	42.53%	3,977	104	44
	Yieh United Steel Corporation	Kaohsiung City	Steel products related businesses	24,562	24,562	3,178	0.12%	12,790	285,428	458	(Note 1)
	Great Emperor Hotel Co., Ltd.	Kaohsiung City	Hotel industry	515	515	50	0.01%	489	(46,609)	(5)
	Kings Garden International Co., Ltd.	Kaohsiung City	Leasing, sales, and development of residential and commercial buildings, department stores	515	515	50	0.01%	489	(9,712)	(1)

－－ 88

Investor	Investee	Location	Main business activities	Initial investment amount	Initial investment amount	Shares held as the period-end	Shares held as the period-end	Shares held as the period-end	Net Income (Loss) of the Investee	Share of Profit/Loss of Investee	Note
				March 31, 2021	December 31, 2020	Shares (in thousands)	Percentage of Ownership	Carrying Value
Gen-Wan Technology Corp.	EMMT Systems Corporation	Taichung City	Manufacturing and marketing of military specification printed circuit boards	27,630	27,630	3,814	7.48%	53,199	36,709	2,745
EMMT Systems Corporation	Groupco Technology Inc.	Taichung City	RADIO	45,000	45,000	4,500	49.97%	4,673	104	52
	Applied Wireless Identifications Group, Inc.	San Francisco, US	RFID	242,545	242,545	40,488	91.47%	224,359	13,875	12,691
	UniPattern Corporation	Taipei City	Manufacturing of computer and peripherals	54,960	54,960	5,200	43.33%	68,109	18,972	8,221
Applied Wireless Identifications Group, Inc.	AWID Asia Co., Ltd.	Kaohsiung City	Telecommunications equipment wholesale	71,594	71,456	3,030	100.00%	19,724	688	688
Shin Yang Steel Co., Ltd.	Yieh United Steel Corporation	Kaohsiung City	Steel products related businesses	17,385	17,385	2,195	0.08%	8,836	285,428	317	(Note 1)
Sin Bang Investment & Development Co., Ltd.	Tangeng Iron Works Co., Ltd.	Kaohsiung City	Steel trading	265,482	265,482	7,224	2.07%	212,107	55,885	1,153
Kuo Chang Enterprise Co., Ltd.	Yieh United Steel Corporation	Kaohsiung City	Steel products related businesses	439,197	439,197	56,817	2.17%	228,705	285,428	8,193	(Note 1)
	Eliter International Corp.	Kaohsiung City	Construction of buildings	241,748	219,977	23,555	2.50%	220,261	(41,464)	(3,067)
	Tangeng Iron Works Co., Ltd.	Kaohsiung City	Steel trading	786,714	786,714	21,328	6.09%	924,591	55,885	3,405
United Brightening Development Corp.	Chao Ying Investment Development Co., Ltd.	Kaohsiung City	Investment	341,992	341,992	30,400	100.00%	262,588	1,385	1,385
	Yieh United Steel Corporation	Kaohsiung City	Steel products related businesses	449,508	449,508	58,151	2.22%	234,075	285,428	8,385	(Note 1)
	Champion Logistic Inc.	Samoa	Investment	4,798	4,798	10	10.34%	552	-	-

－－ 89

Investor	Investee	Location	Mainbusiness activities	Initial investment amount	Initial investment amount	Shares	held as the period-end	held as the period-end	Net Income (Loss) of the Investee	Share of Profit/Loss of Investee
				March 31, 2021	December 31, 2020	Shares (in thousands)	Percentage of Ownership	Carrying Value
United Brightening Development Corp.	Tangeng Iron Works Co., Ltd.	Kaohsiung City	Steel trading	1,177,838	1,177,838	32,050	9.16%	1,369,320	55,885	5,117
	Eliter International Corp.	Kaohsiung City	Construction of buildings	363,755	70,393	33,812	3.58%	316,177	(41,464)	(41,691)
Chao Ying Investment Development Co.,Ltd.	Tangeng Iron Works Co., Ltd.	Kaohsiung City	Steel trading	336,957	336,957	8,898	2.54%	261,259	55,885	1,421
Hong Yuh Assets Management Co., Ltd.	Lien-Hsin Steel Co., Ltd.	Indonesia	Metal manufacturing industry	514,670	514,670	1,640	47.88%	283,596	(9,803)	(4,694)
	Prepayment of stock subscription- Lien-Hsin Steel Co.,Ltd.	Indonesia	Metal manufacturing industry	55,440	55,440	-	-	55,440	-	-
	Lien-Sheng Steel Co., Ltd.	Indonesia	Metal manufacturing industry	1,633	1,633	0.05	10.00%	366	(504)	(50)
	Lien-Hung Mining Co., Ltd.	Indonesia	Nickle mining	100,303	100,303	3,787	19.00%	61,337	(5,058)	(2,441)
	Prepayment of stock subscription - Lien-Hung Mining Co.,Ltd.	Indonesia	Nickle mining	7,367	7,367	-	-	7,367	-	-
	Lien-Heng Mining Co., Ltd.	Indonesia	Nickle mining	9,371	9,371	381	75.00%	(28,400)	(1,748)	(1,311)
	Prepayment of stock subscription - Lien Heng Mining Co.,Ltd.	Indonesia	Nickle mining	69,365	69,365	-	-	69,365	-	-
	Asiamax Mining Indonesia	Indonesia	Nickle mining	89,386	89,386	55	100.00%	48,011	2,200	2,200
Lian So (H.K) Co., Limited	Lien-Sheng Steel Co., Ltd.	Indonesia	Metal manufacturing industry	12,841	12,816	0.45	90.00%	3,298	(504)	(454)
	Lian Yang (Hong Kong) TradingLimited	Hong Kong	Trading business	2,854	2,848	100	100.00%	13,281	(7)	(7)
	Lien-Hsin Steel Co., Ltd.	Indonesia	Metal manufacturing industry	509,350	508,368	1,785	52.12%	308,670	(9,803)	(5,109)

－－ 90

Investor	Investee	Location	Main business activities	Initial investment amount	Initial investment amount	Shares held as the period-end	Shares held as the period-end	Shares held as the period-end	Net Income (Loss) of the Investee	Share of Profit/Loss of Investee	Note
				March 31, 2021	December 31, 2020	Shares (in thousands)	Percentage of Ownership	Carrying Value
Lien-Hsin steel Co., Ltd.	Lien-Hung Mining Co., Ltd.	Indonesia	Nickle mining	421,234	429,574	16,142	81.00%	237,585	(5,058)	(10,737)
	Prepayment of stock subscription - Lien-Hung MiningCo.,Ltd.	Indonesia	Nickle mining	68,774	72,393	-	-	68,774	-	-
	Lien-Heng Mining Co., Ltd.	Indonesia	Nickle mining	19,517	20,267	127	25.00%	(9,467)	(1,748)	(437)
Yieh Hsing Enterprise Co., Ltd.	Great Emperor Hotel Co., Ltd.	Kaohsiung City	Hotel industry	2,099,500	2,099,500	209,950	45.44%	2,054,933	(46,609)	(21,181)
	Kings Garden International Co., Ltd.	Kaohsiung City	Leasing, sales, and development of residential and commercial buildings, department stores	2,119,500	2,119,500	211,950	49.87%	2,072,829	(9,712)	(4,844)
	United Winner Metals L.P	Virginia, US	Scrap steel recycling	107,334	107,334	-	33.75%	92,973	3,132	1,057
	Cheng Shin Security Co., Ltd.	Kaohsiung City	Security	4,000	4,000	400	10.00%	2,470	(2,715)	(272)
	Eliter International Corp.	Kaohsiung City	Construction of buildings	704,450	639,772	69,976	7.42%	654,344	(41,464)	(9,184)
	E-Da Development Corp.	Kaohsiung City	Leisure development	437,915	437,915	43,791	5.94%	229,860	(56,860)	(4,223)
	Yieh United Steel Corporation	Kaohsiung City	Steel products related business	20,204	20,204	2,542	0.10%	10,233	285,428	366	(Note 1)
	E-Da Health Biotechnology Co., Ltd.	Kaohsiung City	Manufacturer of food additives	3,800	3,800	380	19.00%	3,689	(9)	(2)

－－ 91

Investor	Investee	Location	Main business activities	Initial investment amount	Initial investment amount	Shares held as the period-end	Shares held as the period-end	Shares held as the period-end	Net Income (Loss) of the Investee	Share of Profit/Loss of Investee
				March 31, 2021	December 31, 2020	Shares (in thousands)	Percentage of Ownership	Carrying Value
Kings Garden International Co., Ltd.	Yi Hua International Co., Ltd	Kaohsiung City	Leasing, selling and development of residential and commercial buildings	7,000	7,000	1,169	70.00%	15,811	(413)	(289)
	Hua Li International Co., Ltd.	Kaohsiung City	Daily necessities, cosmetics wholesaler	60,000	60,000	6,000	100.00%	53,313	(3,321)	(3,321)
	E-Mau Development Co., Ltd.	Kaohsiung City	Department stores, amusement parks, and hotel industry	27,520	27,520	2,752	12.80%	27,485	(69)	(9)
Great Emperor Hotel Co., Ltd.	E-Mau Development Co., Ltd.	Kaohsiung City	Department stores, amusement parks, and hotel industry	27,520	27,520	2,752	12.80%	27,485	(69)	(9)

(Note 1): Due to cross ownership and the adoption of equity method between the Company and Yieh United Steel Corporation, investment gain/loss is accounted for using the

treasury stock approach. Thus, the income/loss of investee for the period excludes gain/loss accounted for using equity method by Yieh United Steel Corporation in relation to the Company.

(Note 2): Transactions between the aforesaid subsidiaries and the parent company are eliminated.

－－ 92

TABLE 10

Yieh Phui Enterprise Co., Ltd. and Subsidiaries Information on Investment in Mainland China For Three Months Ended March 31, 2021

Unit: Thousands of NT Dollar/ Foreign Currency

Name of	Name of	Investee in Mainland China	Main business activities	Main business activities	Total Amount of Paid-in Capital	Investment method (Note 1)	Accumulated Outflow of Investment from Taiwan as of January 1, 2021	Investment Flows	Investment Flows	Accumulated Outflow of Investment from Taiwan as of March 31, 2021	Accumulated Outflow of Investment from Taiwan as of March 31, 2021	Net Income (Loss) of the Investee	Ownership held by the Company (direct or indirect) (%)	Share of Profit/Loss (Note 2)	Share of Profit/Loss (Note 2)	Carrying Amount as of March 31, 2021	Accumulated Inward Remittance of Earnings as of March 31, 2021
								Outflow	Inflow
Investor
Yieh Phui Enterprise Co., Ltd.		Yieh Phui (China) Techno material Co., Ltd.	Manufacturing and marketing of pickled, cold rolled, galvanized and pre-painted steel coils		6,739,967 (USD 236,200) (Note 6)	(2) a	6,662,923 (USD 233,500)	－	－	6,662,923 (USD 233,500		387,637	100%	387,637 (2) 2		9,911,057	－
		Changshou ChangHuei Trading Co.	Trading of steel products		43,509 (RMB 10,000)	(2) a (Note 4)	－	－	－	－		213	100%	213 (2) 3		46,372	－
		Tianjin Lianfa Precision Steel Corporation	Manufacturing and marketing of special highgrade alloy		385,223 (USD 13,500)	(2) a (Note 5)	－	－	－	－		3,477	100%	3,477 (2) 3		(132,023)	－
AWID Asia Co., Ltd.		AWID Changshou Co., Ltd.	Telecommunications equipment wholesale		8,561 (USD 300)	(1)	8,561 (USD 300)	－	－	8,561 (USD 300)		(23)	100%	(23) (2) 3		2,721	－

				Investee in Mainland China			Accumulated Investment in Mainland China as of March 31, 2021				Investment Amounts Authorized by Investment Commission, MOEA				Upper Limit on Investment
		Investor
	Yieh Phui Enterprise Co., Ltd.			Yieh Phui (China) Technomaterial Co., Ltd.			6,662,923 (USD 233,500)				6,739,967 (USD 236,200)				16,487,671
	AWID Asia Co., Ltd.			AWID Changshou Co., Ltd.			8,561 (USD 300)				8,561 (USD 300)				80,000

－－ 93

(Note 1): Investment methods are classified into the following three categories.

  - (1) Directly invest in a company in Mainland China.

  - (2) Through investing in an existing company in the third area, which then invested in the investee in Mainland China.

     - a. Yieh Phui (Hong Kong) Holdings Limited

  - (3) Others

(Note 2): Investment gain or loss recognized in the current period:
- (1) Please specify if it is in the preparation stage without any investment gains or losses generated.
- (2) Recognition basis of investment profit or loss is categorized into three types, which shall be identified.
  1. Financial statements audited and certified by the international CPA firms that cooperates with ROC CPA firms.
  2. Financial statements reviewed, or audited and certified by the CPA firm of the parent company in Taiwan.
  3. Others
(Note 3): The figures in the Table shall be expressed in New Taiwan Dollars. Carrying amount at the end of the period is converted using the exchange rate on the reporting date (USD:NTD 1: 28.535; RMB: NTD 1: 4.3509). Investment gain or loss recognized in the current period is converted using the average exchange rate in from January 1 to March 31, 2021 (USD: NTD 1: 28.4213; RMB: NTD 1: 4.3691).
(Note 4): Yieh Phui (China) Technomaterial Co., Ltd. invests in Changshou ChangHuei Trading Co. with equity funds of RMB 10 million. As of March 31, 2021, accumulated investment amounted to RMB 10 million.
(Note 5): The Company originally holds 100% of Tianjin Lianfa Precision Steel Corporation Beneficiary (paid-in capital equals USD 13,500 thousand) through its holding in Hsing Jui Investments Limited. It transfered its ownership to Yieh Phui (China) Technomaterial Co., Ltd. at RMB 20,000 thousand in July 2015. The said proceed, net of tax, of RMB 19,990 thousand (equivalent to USD 3,213 thousand) has been transferred back to the Company’s account in Taiwan.
(Note 6): Yieh Phui (China) Technomaterial Co., Ltd. recapitalized its retained earnings of USD 2,700 thousand in April 2016.
(Note 7): Investment in Changshu Chief Leading Edge Construction Materials Co., Ltd. was completely sold in February 2013. Investment amount and earnings were received. Investment in Jiangsu J & Y Engineering Co., Ltd. was liquidated in 2012. Thus:
- (1) Accumulated investment of NT$ 498,539 thousand by investees in China that were disposed of.
- (2) Investment gains received from China investees that were disposed: NT$ 69,518 thousand.
(2) Significant transactions between the Company and investees in Mainland China during January 1 and March 31, 2021, directly or indirectly through the third area are as follows:
Significant transactions between the Company and investees in China: Table 7 attached ~ Table 8 attached in Note 13.
Financing between the Company and investees in China: Table 1 attached in Note 13.
Endorsement and guarantee provided by the Company for investees in China: Table 2 attached in Note 13.

－－ 94

TABLE 11

Yieh Phui Enterprise Co., Ltd. and Subsidiaries Information of Major Shareholders March 31, 2021

Name of major shareholder	Number of shares	Percentage of ownership (%)
Yieh United Steel Corporation	302,105,336	15.97%
Weiqiao Investment Development Co., Ltd.	205,719,551	10.88%
Wei Hong Investment Development Co., Ltd.	98,182,532	5.19%

Note: The information of major shareholders is based on the number of ordinary shares and preferred shares held by shareholders with ownership of 5% or greater, that have been issued without physical registration (included treasury shares) by the Company as of March 31, 2021. The share capital in consolidated financial report may differ from the actual number of shares that have been issued without physical registration because of different preparation basis.

－－ 95

14.Segment Information

(1)General information

For the purpose of management, the Group separates its operations based on business unit and have four reportable segments as below:

Business Unit Yieh Phui: Primarily engaging in manufacturing and marketing of coated steel and manufacturing and installation of crane.
Business Unit Yieh Hsing: Primarily engaging in manufacturing and selling of wire rods.
Business Unit Yieh Phui (China, including Yieh Phui Hong Kong): Primarily engaging in manufacturing and selling of coated steel.
Other business units: Primarily engaging in manufacturing and selling of steel, iron, and military supplies, wholesale of telecommunication equipment, and investment.
(2)Measurement basis
Management monitors the operation results of its segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on profit or loss before tax and is measured consistently with profit or loss before tax in the consolidated financial statements. Furthermore, because the information of assets and liabilities is not reported to the chief operating decision maker for operation decision making, segment assets and liabilities are measured as zero. The accounting policies for reportable segments are the same as Group’s accounting policies described in Note 2.

The segment information provided to the chief operating decision maker:

Three Months Ended March 31, 2021 Sales revenue from external customers Sales revenue among intersegments Total sales Operating income (loss) Non-operating income and expenses Income (loss) before income tax Income tax (expenses) benefit Net Income (loss) Total assets Total liabilities	Business Unit Yieh Phui $6,431,405 325,157 $6,756,562 $335,589	Business Unit Yieh Hsing $1,672,594 - $1,672,594 $87,409	Business Unit Yieh Phui (China) $9,609,332 378,103 $9,987,435 $651,727	Other business units $1,001,632 30,690 $1,032,322 $ (14,641)	Adjustment and elimination $ (24,688) (733,950) $(758,638) $3,383	Total $18,690,275 - $18,690,275 $1,063,467 342,676 $1,406,143 (292,796) $1,113,347 $86,020,903 $57,177,151

－－ 96

Three Months Ended March 31, 2020 Sales revenue from external customers Sales revenue among intersegments Total sales Operating income (loss) Non-operating income and expenses Income (loss) before income tax Income tax (expenses) benefit Net Income (loss) Total assets Total liabilities	Business Unit Yieh Phui $5,325,941 232,370 $5,558,311 $147,839	Business Unit Yieh Hsing $1,496,493 - $1,496,493 $(149,324)	Business Unit Yieh Phui (China) $4,610,723 289,213 $4,899,936 $72,825	Other business units $1,231,251 24,851 $1,256,102 $ (46,900)	Adjustment and elimination $ (11,215) (546,434) $ (557,649) $4,866	Total $12,653,193 - $12,653,193 $29,306 (474,455) $(445,149) 42,475 $(402,674) $83,770,301 $57,072,663

(3) Information on product and service: No disclosure reguirement for Interim financial statements.
(4) Geographical information ： No disclosure reguirement for Interim financial statements.
(5) Major customer information : No disclosure reguirement for Interim financial statements.

－－ 97

AI assistant

YP — Interim / Quarterly Report 2021

51950_rns_2021-12-01_532a4d3b-1631-4e14-a80c-9f7ed0d4c08e.pdf

Table of Contents

Independent Auditors’ Review Report

Introduction

Scope of Review

Basis for Qualified Conclusion

Qualified Conclusion

Other Matter

Notice to Readers

YIEH PHUI ENTERPRISE CO., LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS

YIEH PHUI ENTERPRISE CO., LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

YIEH PHUI ENTERPRISE CO., LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

YIEH PHUI ENTERPRISE CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

1. GENERAL INFORMATION

2. THE AUTHORIZATION OF THE CONSOLIDATED FINANCIAL STATEMENTS

3. APPLICATION OF NEW AND AMENDED STANDARDS AND INTERPRETATIONS

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

4.1 Statement of Compliance

4.2 Basis of Preparation

4.3 Basis of Consolidation

(2) The subsidiaries in the consolidated financial statements:

a. Balance Sheets:

b. Statements of Comprehensive Income：

c. Statements of Cash Flows：

Yieh Hsing Enterprise Co., Ltd. and its Subsidiaries

4.4 Retirement benefits

4.5 Income taxes

5. CRITICAL ACCOUNTING JUDGMENTS, ESTIMATES AND KEY SOURCES OF ASSUMPTION UNCERTAINTY

6. DETAILS OF SIGNIFICANT ACCOUNTS

6.1 Cash and cash equivalents

6 . 2 Financial assets at fair value through profit or loss

B. Forward foreign exchange contracts: March 31, 2021：

6.3 Notes receivable, net

6.4 Accounts receivable, net

6.5 Other receivables

6.6 Inventories and operating cost

6.8 Noncurrent assets held for sale / Liabilities directly associated with noncurrent assets held for sale

6.9 Other financial assets - current

6.10 Financial assets at fair value through other comprehensive income or loss - noncurrent

6.11 Investments accounted for using equity method

1.Associates:

6.12 Property, Plant and Equipment

6.13 Lease Agreement

B. Lease liabilities

C. Significant rent operating and clause

D. Other lease information:

6.14 Investment properties

1.The movement of cost and accumulated depreciation and impairment of investment properties were as follows:

2. Rental revenue and direct operating expenses of investment properties:

6.15 Intangible assets

6.17 Refundable deposits

6.18 Short-term Loans

6.21 Provisions - current

6.22 Long-term Loans

6.23 Long-term Deferred Revenue

6.24 Benefit Plan After Retirement

6.25 Common Stock

6.27 Retained Earnings

6.28 Other Equity Item

6.29 Treasury stock

6.30 Non-controlling interests

6.31 Operating Revenue

6.32 Employee benefits, depreciation and amortization expense

6.33 Interest income

6.34 Other Income

6.35 Other gains and losses

6.36 Finance Costs

6.37 Income Tax

6.38 Other Comprehensive Income

6.39 Earnings Per Share

6.40 Transactions with Non-controlling Interests

7. RELATED PARTY TRANSACTIONS

7.1 Parent and ultimate controlling party.

7.2 Names of related parties and relationship categories

Associate

7.3 Significant transactions with related parties

1. Operating revenue

YP Interim / Quarterly Report 2021