ZIPPY - Interim / Quarterly Report 2025

Stock Code:2420

ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS

With Independent Auditors’ Review Report For the Nine Months Ended September 30, 2025 and 2024

Address: 10F., No. 50, Minquan Rd., Xindian Dist., New Taipei City , Taiwan, R.O.C. Telephone: 886-2-2918-8512

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

～ 1 ～

Contents 1. Cover Page 2. Table of Contents 3.Independent Auditors’ Report 4. Consolidated Balance Sheets 5. Consolidated Statements of Comprehensive Income 6. Consolidated Statements of Changes in Equity 7. Consolidated Statements of Cash Flows 8. Notes to the Consolidated Financial Statements (1)Overview (2)Financial Statements Authorization Date and Authorization Process (3)New Standards, Amendments and Interpretations not yet Adopted (4)Summary of Significant Accounting Policies (5)Significant Accounting Judgments, Estimation, Assumptions, and Sources of Estimation Uncertainty (6)Explanation to Significant Accounts (7)Related Party Transactions (8)Pledged Assets (9)Significant Commitments and Contingencies (10)Losses Due to Major Disasters (11)Subsequent Events (12)Other (13)Other disclosures (a)Information on significant transactions (b)Information on investment (c)Information on investment in Mainland China (14)Segment Information	Page
	1 2 3 4 5 6 7 8 8 8～9 10～12 12 12～37 37～38 38 38 38 38 39 39～42 43 44 45～46

Contents
1.
Cover Page
2.
Table of Contents
3.Independent Auditors’ Report
4.
Consolidated Balance Sheets
5.
Consolidated Statements of Comprehensive Income
6.
Consolidated Statements of Changes in Equity
7.
Consolidated Statements of Cash Flows
8.
Notes to the Consolidated Financial Statements
(1)Overview
(2)Financial Statements Authorization Date and Authorization Process
(3)New Standards, Amendments and Interpretations not yet Adopted
(4)Summary of Significant Accounting Policies
(5)Significant Accounting Judgments, Estimation, Assumptions, and Sources
of Estimation Uncertainty
(6)Explanation to Significant Accounts
(7)Related Party Transactions
(8)Pledged Assets
(9)Significant Commitments and Contingencies
(10)Losses Due to Major Disasters
(11)Subsequent Events
(12)Other
(13)Other disclosures
(a)Information on significant transactions
(b)Information on investment
(c)Information on investment in Mainland China
(14)Segment Information

Page

1
2
3
4
5
6
7
8
8
8～9
10～12
12
12～37
37～38
38
38
38
38
39
39～42
43
44
45～46

～ 2 ～

Independent Auditors’ Review Report

To the Board of Directors of Zippy Technology Corp.:

Introduction

We have reviewed the accompanying consolidated balance sheets of Zippy Technology Corp. (“Company”) and its subsidiaries (“Group”) as of September 30, 2025 and 2024, and the related consolidated statements of comprehensive income for the three months and nine months ended September 30, 2025 and 2024, as well as the changes in equity and cash flows for the nine months ended September 30, 2025 and 2024, and notes to the consolidated financial statements, including a summary of significant accounting policies. Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, “Interim Financial Reporting” endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China. Our responsibility is to express a conclusion on the consolidated financial statements based on our reviews.

Scope of Review

Except as explained in the Basis for Qualified Conclusion paragraph, we conducted our reviews in accordance with the Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” of the Republic of China. A review of the 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 the Standards on Auditing of the Republic of China and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Basis for Qualified Conclusion

As stated in Note 4(b), the consolidated financial statements included the financial statements of certain non-significant subsidiaries, which were not reviewed by independent auditors. These financial statements reflect the total assets amounting to $814,552 thousand and $800,635 thousand, constituting 14.91% and 14.61% of consolidated total assets as of September 30, 2025 and 2024, respectively, total liabilities amounting to $101,071 thousand and $94,700 thousand, constituting 5.97% and 5.6% of consolidated total liabilities as of September 30, 2025 and 2024, respectively, and total comprehensive income (loss) amounting to $29,507 thousand, $7,854 thousand, $5,419 thousand and $31,991 thousand, constituting 8.04%, 4.93%, (1.48)% and 5.81% of consolidated total comprehensive income (loss) for the three months and nine months ended September 30, 2025 and 2024, respectively.

～ 3 ～

Qualified Conclusion

Except for the adjustments, if any, as might have been determined to be necessary had the financial statements of certain consolidated subsidiaries and equity accounted investee companies described in the Basis for Qualified Conclusion paragraph above been reviewed by independent auditors, based on our reviews, 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 September 30, 2025 and 2024, and of its consolidated financial performance for the three months and nine months ended September 30, 2025 and 2024, as well as its consolidated cash flows for the nine months ended September 30, 2025 and 2024 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, “Interim Financial Reporting” endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China.

The engagement partners on the reviews resulting in this independent auditors’ review report are Rou-Lan Kuo and Ying-Ru Chen.

KPMG

Taipei, Taiwan (Republic of China) November 7, 2025

Notes to Readers

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

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

～ 3-1 ～

(ENGLISH TRANSLATION OF CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN CHINESE) REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS September 30, 2025, December 31, 2024 and September 30, 2024 (EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

ASSETS Current Assets： 1100 Cash and cash equivalents (Notes (6)(a)) 1110 Current financial assets at fair value through profit or loss (Notes (6)(b)) 1136 Current financial assets at amortized cost (Note 6(c)) 1150 Notes receivable, net (Notes (6)(d)) 1170 Accounts receivable, net (Notes (6)(d)) 1200 Other receivables (Notes (6)(e)) 1220 Current tax assets (Notes (4) and (6)(q)) 130X Inventories, net (Notes (6)(f)) 1470 Other current assets Total current assets Non-current Assets： 1600 Property, plant and equipment (Notes (6)(h) and (8)) 1755 Right-of-use assets (Notes (6)(i)) 1760 Investment property, net (Notes (6)(j) and (8)) 1780 Intangible assets (Notes (6)(k)) 1840 Deferred income tax assets (Notes (6)(q)) 1915 Prepayments for business facilities 1920 Guarantee deposits paid Total non-current assets TOTAL ASSETS	2025.09.30	2024.12.31	2024.09.30 Amount ％ LIABILITIES AND EQUITY Current Liabilities： 988,121 18) 2100 Short-term borrowings (Note (6)(l), (6)(z) and (8)) 37,716 1) 2130 Current contract liabilities (Note (6)(t)) 109,515 2) 2150 Note payable 23,375 1 2170 Accounts payable 345,569 6) 2200 Other payables (Note (6)(p)) 11,543 - 2230 Current tax liabilities (Notes (4) and (6)(q)) 89 - 2280 Current lease liabilities (Notes (6)(n) and (6)(z)) 555,865 10) 2320 Long-term borrowings, current portion(Note (6)(m) , (6) (z) and (8)) 45,635 1) 2399 Other current liabilities, others 2,116 ,428 39) Total current liabilities Non-current Liabilities： 2540 Long-term borrowings (Note (6)(m),(6) (z) and (8)) 1,160 ,760) 21) 2570 Deferred income tax liabilities (Notes (4) and (6)(q)) 8,140) - 2580 Non-current lease liabilities (Notes (6)(n) and (6)(z)) 2,104,867) 38) 2640 Net defined benefit liability, non-current (Notes (6)(p)) 20,384) - 2645 Guarantee deposits received 37,404) 1) Total non-current liabilities 31,249) 1) Total Liabilities 373) - 3,363,177) 61) Equity attributable to owners of parent (Note (6)(r))： 3110 Ordinary share 3200 Capital surplus 3300 Retained earnings 3400 Other equity interest Total equity attributable to owners of parent 36xx Non-controlling interests Total Equity 5,765,784) 100) TOTAL LIABILITIES AND EQUITY	2025.09.30	2024.12.31	2024.09.30
	Amount ％ $ 1,019,510) 19) 107,237) 2) 139,295) 3) 12,834) - 289,123) 5 7,307) - 96) - 516,653) 9) 46,541) 1) 2,138,596) 39) 1,133,528) 21) 12,359) - 2,087,151) 38) 20,570) - 29,814) 1) 41,492) 1) 405) - 3,325,319 61) $ 5,779,104) 100)	Amount ％ 1,054,027) 19) 215,607) 4) 110,413) 2) 15,746) - 293,405) 5) 11,550) - 185) - 558,830) 10) 45,079) 1) 2,304,842) 41) 1,161,617) 20) 14,034) - 2,103,520) 37) 20,646) - 30,614) 1) 34,447) 1) 407) - 3,365,285) 59) 5,670,127) 100)		Amount ％ $ 14,320) - 17,953) 1) 10,896) - 259,274) 5) 226,715) 4) 91,812) 2) 1,371) - 50,000) 1) 9,805) - 682,146) 13) 970,500 18) 1,727 - 3,857 - 11,064 - 22,671 - 1,009,819 18) 1,691,965 31 1,526,487 28) 138,051 3) 2,124,270 39) (34,886) (1) 3,753,922) 69) 18,028) -) 3,771,950) 69) $ 5,463,915) 100)	Amount ％ 13,653) - 15,225) - 12,046) - 223,877) 4) 233,541) 4) 106,018) 2) 1,370) - 50,000) 1) 13,942) - 669,672) 11) 1,008,000) 18 1,776) - 4,922) - 11,040) - 24,362) 1 1,050,100) 19) 1,719,772) 30) 1,526,487) 27) 135,562) 2) 2,243,847) 40) 13,175 - 3,919,071) 69 31,284) 1) 3,950,355) 70 5,670,127) 100)	Amount ％ 14,145 - 16,112 - 12,316 - 232,264 4) 212,262 4) 80,386 2) 294 - 50,000 1) 11,423 - 629,202 11) 1,020,500 19 631 - - - 17,484 - 24,316 1 1,062,931 20) 1,692,133 31) 1,526,487) 28) 135,562) 2) 2,092,930) 38) 1,687 - 3,756,666) 68) 30,806) 1) 3,787,472 69) 5,479,605) 100)

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

～ 4 ～

(ENGLISH TRANSLATION OF CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN CHINESE) REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Three months and Nine months Ended September 30, 2025 AND 2024 (EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

4000 Total sales revenue (Notes (6)(t)) 5110 Total operating costs (Notes (6)(f)) 5900 Gross profit from operations 6000 Operating expenses (Notes (6)(d), (6)(n), (6)(p) and (6)(u)): 6100 Selling expenses 6200 Administrative expenses 6300 Research and development expenses 6450 Expected credit loss (gain) Total operating expenses 6900 Net operating income 7000 Non-operating income and expenses (Note (6)(o) and (6)(v)): 7100 Interest income 7010 Other income 7020 Other gains and losses, net 7050 Finance costs, net Total non-operating income and expenses Profit (loss) from continuing operations before tax 7950 Less: Income tax expenses (Note (6)(q)) Profit Other comprehensive income: 8360 Components of other comprehensive income (loss) that will be reclassified to profit or loss 8361 Exchange differences on translation of foreign financial statements Components of other comprehensive income that will be reclassified to profit or loss Other comprehensive income 8500 Total comprehensive income Profit (loss), attributable to: 8610 Profit (loss), attributable to owners of parent 8620 Profit (loss), attributable to non-controlling interests Comprehensive income attributable to: 8710 Comprehensive income, attributable to owners of parent 8720 Comprehensive income, attributable to non-controlling interests 9750 Basic earnings per share (NT dollars) (Notes (6)(s)) 9870 Diluted earnings per share (NT dollars) (Notes (6)(s))	For the three months	ended September 30,	For the nine months e	nded September 30,
	2025 % $ 528,419) 100) 294,500) 56) 233,919) 44) 14,698 3) 70,625 13) 15,503 3) (454) - 100,372 19) 133,547 25) 5,680 1) 31,652 6) 22,194 4) (5,747) (1) 53,779 10) 187,326 35) 38,129 7) 149,197 28) 37,016 7) 37,016 7) 37,016 7) $ 186,213) 35) $ 148,771) 28) 426) - $ 149,197) 28) $ 185,787) 35) 426) - $ 186,213) 35) $ 0.97) $ 0.97)	2024 % 583,107) 100) 302,462) 52) 280,645) 48) 23,680) 4) 55,461) 10) 17,628) 3) 1) - 96,770) 17) 183,875) 31) 9,490) 2) 33,400) 6) (16,667)) (3)) (6,357) (1)) 19,866) 4) 203,741) 35) 38,862) 7) 164,879) 28) (5,716) (1) ) ) (5,716) (1) (5,716) (1) 159,163) 27) 164,694) 28) 185 - 164,879) 28) 158,978) 31) 185) - 159,163) 27) 1.08)	2025 % 1,653,191) 100) 911,860) 55) 741,331) 45) 58,182) 4) 182,712) 11) 51,079) 3) 168 - 292,141) 18) 449,190 27) 16,518) 1 100,309) 6) (21,995) (1) (17,746) (1) 77,086) 5) 526,276) 32) 111,285) 7) 414,991) 25) (48,061) (3) (48,061) (3) (48,061) (3) 366,930) 22) 414,693) 25) 298 - 414,991) 25) 366,632) 22) 298 - 366,930) 22) 2.72	2024 % 1,705,394) 100) 893,136) 53) 812,258) 47) 63,363) 4) 190,150) 11) 55,376) 3) 292 - 309,181) 18) 503,077) 29) 28,032) 2 104,072) 6) 31,510) 2) (18,256) (1) 145,358 9) 648,435 38) 127,896) 8) 520,539) 30) 29,915 2 29,915 2 29,915 2 550,454) 32) 520,117) 30) 422) - 520,539) 30) 550,032) 32) 422) - 550,454) 32) 3.41
		1.08)	2.71	3.40

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

～ 5 ～

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY For the Nine Months Ended September 30, 2025 and 2024 (EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

		Equity attributable to owners ofparent	Equity attributable to owners ofparent	Equity attributable to owners ofparent	Equity attributable to owners ofparent			Non- Controlling Interests	Total Equity
Capital Stock	Capital Surplus		Retained Earnings			Other Equity Exchange Differences on Translation of Foreign Financial Statements (28,228) - 29,915	Total Equity Attributable to Owners of Parent
Share Capital		Legal Reserve	Special Reserve	Unappropriated Retained Earnings	Total
	135,562 - -	924,672 - -	23,960 - -	1,082,127 520,117) -	2,030,759) 520,117) -		3,664,580) 520,117) 29,915)	30,384 422 -	3,694,964) 520,539) 29,915)
-	-	-	-	520,117)	520,117)	29,915	550,032)	422	550,454)
- - -	- - -	54,082) - -	- 4,268) -	(54,082) (4,268) (457,946)	- - (457,946)	- - -	- - (457,946)	- - -	- - (457,946)
	135,564)	978,754)	28,228	1,085,948)	2,092,930)	1,687	3,756,666)	30,806	3,787,472)
	135,564) - -	978,754) - -	28,228 - -	1,236,865) 414,693) -	2,243,847) 414,693) -	13,175 - (48,061)	3,919,071) 414,693) (48,061)	31,284 298 -	3,950,355) 414,991) (48,061)
-	-	-	-	414,693)	414,693	(48,061)	366,632)	298	366,930)
- - - -	- - - 2,489	67,103) - - -	- (28,228) - -	(67,103) 28,228 (534,270) -	- - (534,270) -	- - - -	- - (534,270) 2,489	- - - (13,554)	- - (534,270) (11,065)
	138,051)	1,045,857)	-	1,078,413)	2,124,270)	(34,886)	3,753,922)	18,028	3,771,950)

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

～ 6 ～

(ENGLISH TRANSLATION OF CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN CHINESE) REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS For the Nine Months Ended September 30, 2025 and 2024 (EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

		For the nine months ended September 30,	For the nine months ended September 30,
		2025	2024
Cash flows from operating activities:
Profit before tax	$	526,276)	648,435)
Adjustments:
Adjustments to reconcile profit:
Depreciation expense		55,002)	63,368)
Amortization expense		430)	529)
Expected credit loss		168)	292)
Financial assets at fair value through profit or loss, mandatorily measured at fair value		(1,211)	(1,367)
Interest expense		17,746)	18,256)
Interest income		(16,518)	(28,032)
Loss on disposal of property, plant and equipment		33	-
Total adjustments to reconcile profit		55,650	53,054)
Changes in operating assets and liabilities:
Changes in operating assets:
Notes receivable		3,039)	(2,710)
Accounts receivable		4,000)	(71,843)
Other receivables		(1,157)	(2,066)
Inventories		42,177)	47,156)
Other current assets		213)	(2,833)( (1,927))
Total changes in operating assets		48,272	(31,390)
Changes in operating liabilities:
Contract liabilities		2,728)	4,854)
Notes payable		(1,150)	2,129)
Accounts payable		35,397)	73,967)
Other payables		735)	38,790)
Other current liabilities		(4,137)	(3,515)
Net defined benefit liabilities, non-current		24)	19)
Total changes in operating liabilities		35,597	116,244)
Total changes in operating assets and liabilities		81,869	84,854)
Total adjustments		137,519	137,908)
Cash inflow (outflow) generated from operations		663,795	786,343)
Interest received		21,918)	24,055)
Interest paid		(17,941)	(18,234)
Income taxes paid		(127,024)	(203,823)
Net cash flows from (used in) operating activities		540,748)	588,341)
Cash flows from investing activities:
Acquisition of financial assets at amortized cost		(28,882)	(40,815)
Acquisition of financial assets at amortized cost		(1,512,018)	(888,616)
Proceeds from disposal of financial assets at amortized cost		1,620,005	946,537)
Acquisition of property, plant and equipment		(21,943)	(7,435)
Decrease in guarantee deposits paid		2	-
Acquisition of intangible assets		(357)	(651)
Increase in prepayments for business facilities		(17,610)	(15,338)
Net cash flows (used in) from investing activities		(39,197)	(6,318)
Cash flows from financing activities:
Repayments of long-term borrowings		(37,500)	(37,500)
Increase in guarantee deposits received		-	662
Decrease in guarantee deposits received		(1,619)	-
Payment of lease liabilities		(1,015)	(1,371)
Payment of cash dividends		(534,270)	(457,946)
Acquisition of ownership interests in subsidiaries		(11,065)
Net cash flows used in (from) financing activities		(585,541)	(496,155)
Effect of exchange rate changes on cash and cash equivalents		(28,921)	17,242)
Net increase (decrease) in cash and cash equivalents		(34,517)	103,110)
Cash and cash equivalents at beginning of period		1,054,027)	885,011)
Cash and cash equivalents at end of period	$	1,019,510)	988,121)

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

～ 7 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

(1) Overview

Zippy Technology Corp. (the “Company”) was established on April 25, 1983, which was a limited company. The Company reorganized into a company limited by shares in 1988. The shares of the Company was listed and traded at the ROC Securities Over-the-Counter Trading Center on May 25, 1996. Through the listing application to the Taiwan Stock Exchange in June 2000, the shares of the Company became officially listed and traded on the Taiwan Stock Exchange on September 11, 2000. The Company and its subsidiaries (together referred to as the “Group” and individually as “Group entities”). The Group engages primarily in the designing, manufacturing and trading of micro switches, power supplies. Please refer to Note 14 for details.

(2) Financial Statements Authorization Date and Authorization Process

The consolidated financial statements were authorized for issuance by the Board of Directors on November 11, 2025.

(3) New Standards, Amendments and Interpretations not yet Adopted:

(a) The impact of the International Financial Reporting Standards (“IFRSs”) endorsed by the Financial Supervisory Commission, R.O.C. (“FSC”) which have already been adopted.

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

Amendments to IFRS21 “Lack of Exchangeability”
(b) The impact of IFRS issued by IASB but not yet endorsed by the FSC

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

IFRS 17 “ Insurance Contracts” and amendments to IFRS 17 “ Insurance Contracts”
Amendments to IFRS 9 and IFRS 7 “Amendments to the Classification and Measurement of Financial Instruments”
Annual Improvements to IFRS Accounting Standards—Volume 11
Amendments to IFRS 9 and IFRS 7 “Contracts Referencing Nature-dependent Electricity”
(c) The impact of IFRS Accounting Standards issued by IASB but not yet endorsed by the FSC

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

～ 8 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

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

A more structured income statement: under current standards, companies use different formats to present their results, making it difficult for investors to compare financial performance across companies. The new standard promotes a more structured income statement, introducing a newly defined ‘operating profit’ subtotal and a requirement for all income and expenses to be allocated between three new distinct categories based on a company’s main business activities.

Effective date per IAS

January 1, 2027 Note: On September 25, 2025, the FSC issued a press release announcing that Taiwan will adopt IFRS 18 beginning in 2028. Entities that need to adopt the new standard earlier may do with the endorsement of the FSC.

Management performance measures (MPMs): the new standard introduces a definition for management performance measures, and requires companies to explain in a single note to the financial statements why the measure provides useful information, how it is calculated and reconcile it to an amount determined under IFRS Accounting Standards.
Greater disaggregation of information: the new standard includes enhanced guidance on how companies group information in the financial statements. This includes guidance on whether information is included in the primary financial statements or is further disaggregated in the notes.

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

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

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

～ 9 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

(4) Summary of Significant Accounting Policies

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

(a) Statement of compliance

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

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

(b) Basis of consolidation

1. List of subsidiaries in the consolidated financial statements

Principal Investor Name of Subsidiary activity	Shareholding Ratio 2025.9.30 2024.12.31 2024.6.30 Note
The Company ZIPPY USA Inc. Trading in micro switches, power supplies, and computer accessories 〞 ZIPPY International Holding Ltd. Reinvestment business 〞 QUAN-FA Corporation Company Wire and cable manufacturing, electronic component manufacturing 〞 ZIPPY Technology Europe Gmbh Trading in electrical parts and computer accessories 〞 Landmark International Holding Ltd. Reinvestment business	100.00% 100.00% 100.00% (Note 1) 100.00% 100.00% 100.00% (Note 2) 79.66% 63.92% 63.92% (Note 2、 Note 3) 100.00% 100.00% 100.00% (Note 2) 100.00% 100.00% 100.00% 〞

～ 10 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

Principal Investor Name of Subsidiary activity	Shareholding Ratio 2025.9.30 2024.12.31 Investor Name of Subsidia ry
ZIPPY International Holding Ltd. ZIPPY (Dongguan) Electronics Co., Ltd. Mainly produce various switches, power supplies, molds, computer peripheral equipment, computer optical fiber parts and sales 〞 KOBOT International Inc. Leasing Landmark International Holding Ltd. ZIPPY (Suzhou) Electronics Co. , Ltd. Mainly sell computer key components, power supplies, precision ceramics, precision molds and key components of network equipment 〞 G-BRIM International Inc. Mainly engaged in electronic products, plastic products, rubber products, hardware products, import and export and related supporting businesses, etc.	100.00% 100.00% 100.00% 〞 100.00% 100.00% 100.00% 〞 100.00% 100.00% 100.00% (Note 2) 100.00% 100.00% 100.00% 〞

Principal
Investor
Name of Subsidiary
activity

Shareholding Ratio
2025.9.30
2024.12.31
Investor
Name of
Subsidia
ry

ZIPPY
International
Holding Ltd.
ZIPPY (Dongguan)
Electronics Co., Ltd.
Mainly produce various switches,
power supplies, molds, computer
peripheral equipment, computer
optical fiber parts and sales
〞
KOBOT International Inc.
Leasing
Landmark
International
Holding Ltd.
ZIPPY (Suzhou) Electronics
Co. , Ltd.
Mainly sell computer key
components, power supplies,
precision ceramics, precision
molds and key components of
network equipment
〞
G-BRIM International Inc.
Mainly engaged in electronic
products, plastic products, rubber
products, hardware products,
import and export and related
supporting businesses, etc.

100.00%
100.00%
100.00%
〞
100.00%
100.00%
100.00%
〞
100.00%
100.00%
100.00%
(Note 2)
100.00%
100.00%
100.00%
〞

Note 1: Companies are significant subsidiaries and their financial statements have been reviewed.
Note 2: Companies are non-significant subsidiaries and their financial statements have not been reviewed.
Note 3: The Company acquired non-controlling interests on May 16, 2025, increasing its ownership interest from 63.92% to 79.66%. Details of the transactions related to the acquisition of non-controlling interests are provided in Note 6(g) and 7.
Subsidiaries excluded from the consolidated financial statements: None.
(c) Classification of current and non-current assets and liabilities

An asset is classified as current under one of the following criteria, and all other assets are classified as non-current.

It is expected to be realized, or intended to be sold or consumed, in the normal operating cycle;
It is held primarily for the purpose of trading;
It is expected to be realized within twelve months after the reporting period; or
The asset is cash or a cash equivalent (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

A liability is classified as current under one of the following criteria, and all other liabilities are classified as non-current.

An entity shall classify a liability as current when:

It is expected to be settled in the normal operating cycle;
It is held primarily for the purpose of trading;
It is due to be settled within twelve months after the reporting period; or
The Group does not have an unconditional right to defer settlement of the liability for at least

～ 11 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

twelve months after the reporting period. Terms of a liability that could, at the option of the counterparty, result in its settlement by issuing equity instruments do not affect its classification.

(d) Income taxes

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

Income tax expenses for the period are best estimated by multiplying pre-tax income for the interim reporting period by the effective annual tax rate as forecasted by the management. This should be recognized fully as tax expense for the current period.

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

(e) Employee benefits

The pension cost in the interim period was calculated and disclosed on a year to date basis by using the actuarially determined pension cost rate at the end of the prior fiscal year.

(5) Significant Accounting Judgments, Estimation, Assumptions, and Sources of Estimation Uncertainty

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

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

(6) Explanation to Significant Accounts

Except for the following disclosures, there is no significant difference as compared with those disclosed in the consolidated financial statements for the year ended December 31, 2023. Please refer to Note (6) of the 2023 annual consolidated financial statements.

～ 12 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

(a) Cash and cash equivalents

Cash $ Checking deposits Demand deposits Time deposits Cash and cash equivalents in consolidated statement of cash flows $	2025.09.30	2024.12.31	2024.09.30
	948 58,968 495,470 464,124	691 25,641 435,713 592,162	751 23,049 406,519 557,802
	1,019,510	1,054,027	988,121

Refer to Note 6(w) for the currency risk of the financial assets of the Group.

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

Mandatorily measured at fair value through profit or loss - Beneficiary certificates $	2025.09.30	2024.12.31	2024.09.30
	107,237	215,607	37,716

1) Refer to Note 6(w) for the credit risks exposure of the financial instrument.

2) As of September 30, 2025, December 31, 2024 and September 30, 2024, the aforesaid financial assets were not pledged as collateral.

Financial Assets at Amortized Cost
Time deposits $	2025.09.30	2024.12.31	2024.09.30
	139,295	110,413	109,515

The Group has assessed that these financial assets are held to maturity to collect contractual cash flows, which consist solely of principal receivables and interest on the principal amount outstanding. Therefore, these investments were classified as financial assets at amortized cost.

As of September 30, 2025, December 31, 2024 and September 30, 2024, the Group held domestic time deposits, with average interest rates of 1.605%, 1.653% and 1.285%, maturing in June 2026, February 2026 and November 2025, respectively.

(d) Notes and accounts receivables

Notes receivable $ Accounts receivable Less: Loss allowance $	2025.09.30	2024.12.31	2024.09.30
	12,844 290,849 (1,376)	15,883 294,489 (1,221)	22,512 346,878 (1,446)
	301,957	309,151	367,944

～ 13 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

The Group applies the simplified approach to provide for its expected credit losses, i.e. the use of lifetime expected loss provision for all receivables. To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due, as well as incorporated forward looking information, including macroeconomic and relevant industry information. The loss allowance provisions in Taiwan and Mainland China were determined as follows:

	2025.09.30
Gross carrying amount	Weighted- average	Loss allowance provision
238,369 4,589	0.30% 10.90%	715 500
242,958		1,215

	2024.12.31
Gross carrying amount	Weighted- average	Loss allowance provision
241,854 3,966	0.30% 14.80% 2024.09.30	726 587
245,820		1,313

Gross carrying amount	Weighted- average	Loss allowance provision
277,751 37,200	0.30% 14.80%	833 5,506
314,951		6,339

The loss allowance provisions in other foreign regions were determined as follows:

	2025.09.30
Gross carrying amount	Weighted- average	Loss allowance provision
45,094 15,281	0.30% 0.02%~10.90%	135 26
60,375		161

～ 14 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

	2024.12.31
Gross carrying amount	Weighted- average	Loss allowance provision
43,516 21,036	0.30% 0.16%~19.60% 2024.09.30	131 59
64,552		190

Gross carrying amount	Weighted- average	Loss allowance provision
37,380 17,059	0.30% 0.16%~14.80%	112 197
54,439		309

The movement in the allowance for notes and accounts receivable was as follows:

For the six months ended June 30, 2025 2024 Balance at January 1, 2025 and 2024 $ 1,221) 1,142) Impairment losses recognized 168) 292) Effect of movements in exchange rate (13) 12) Balance at September 30, 2025 and 2024 $ 1,376) 1,446)	For the six months ended June 30,	For the six months ended June 30,
	2025	2024
		1,142) 292) 12)
		1,446)

As of September 30, 2025, December 31, 2024 and September 30, 2024, none of the receivables above are pledged as collateral for loans and borrowings.

(e) Other receivables

Other receivables $ None of other receivables are past due.	2025.09.30	2024.12.31	2024.09.30
	7,307	11,550	11,543

Please refer to Note 6(w) for further credit risk information.

～ 15 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

(f) Inventories

Inventories
Finished goods $ Work in process Raw materials Materials and supplies in transit $	2025.09.30	2024.12.31	2024.09.30
	55,814 141,278 304,822 14,739	72,049 153,331 341,916 18,534	68,306 163,249 314,963 9,347
	516,653	558,830	555,865

For the three months and nine months ended September 30, 2025, the write-down of inventories to net realizable value amounting to $1,845 thousand and $3,739 thousand, respectively, were included in operating costs.

For the three months and nine months ended September 30, 2024, the reversal of inventory writedowns due to an increase in the net realizable value of inventories, amounting to $4,189 thousand and $6,819 thousand, respectively, were included in operating costs.

As of September 30, 2025, December 31, 2024 and September 30, 2024, the aforesaid inventories were not pledged as collateral.

(g) Acquisition of Non-controlling Interests

On May 16, 2025, the Group acquired additional equity interests in Quan-Fa Corporation for a cash consideration of NT$11,065 thousand, increasing its ownership from 63.92% to 79.66%. During the period from January 1 to September 30, 2024, the Group did not enter into any transactions with non-controlling interests.

The effect of changes in the Group’s ownership interest in Quan-Fa Corporation on the equity attributable to owners of the parent is as follows:

Carrying amount of non-controlling interests acquired $ Consideration paid to non-controlling interests Difference recognized in equity attributable to owners of parent $	13,554 (11,065)
	2,489

～ 16 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

(h) Property, plant and equipment

Land	Building and construction	Machinery and equipment	Office equipment	Other facilities	Total
$ 757,948 $ 754,143 $ 753,927 $ 756,257	247,176	118,510	8,217	29,766	1,161,617
	232,072	106,292	6,669	33,352	1,133,528
	257,411	134,260	10,570	37,041	1,193,209
	256,265	117,779	8,639	27,820	1,160,760

The property, plant and equipment of the Group have no significant additions, dispositions, impairment, or reversals for the six months ended September 30, 2025 and 2024. Please refer to Note 12 for the amount of depreciation, and for other related information, please refer to Note 6(g) of the consolidated financial statement for the year ended December 31, 2024.

Please refer to Note 8 for details of the above assets pledged as collateral for long-term, short-term borrowings and financing line guarantees.

(i) Right-of-use assets

Land Carrying amounts: Balance at January 1, 2025 $ 7,707 Balance at September 30, 2025 $ 7,154 Balance at January 1, 2024 $ 7,679 Balance at September 30, 2024 $ 7,805	Land	Building and construction	Total
		6,327	14,034
		5,205	12,359
		1,631	9,310
		335	8,140

The right-of-use assets of the Group have no significant additions, dispositions, impairment, or reversals for the six months ended September 30, 2025 and 2024. Please refer to Note 12 for the amount of depreciation, and for other related information, please refer to Note 6(h) of the consolidated financial statement for the year ended December 31, 2024.

(j) Investment property

Investment property includes its own assets held by the Group. The original non-removable period of leased investment property is one to four years, and some lease contracts stipulate that the lessee has the option to extend the period upon expiration.

For all investment property leases, the rental income is fixed under the contracts.

Information about investment property of the Group is presented below:

～ 17 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

Own assets Land and improvement Building and construction Carrying amounts: Balance at January 1, 2025 $ 1,802,298 301,222 Balance at September 30, 2025 $ 1,799,262 287,889 Balance at January 1, 2024 $ 1,799,610 313,537 Balance at September 30, 2024 $ 1,800,813 304,054	Total
	2,103,520
	2,087,151
	2,113,147
	2,104,867

The investment property of the Group has no significant additions, dispositions, impairment, or reversals for the six months ended September 30, 2025 and 2024. Please refer to Note 12 for the amount of depreciation, and for other related information, please refer to Note 6(i) of the consolidated financial statement for the year ended December 31, 2024.

For the three months and nine months ended September 30, 2025 and 2024, the direct operating expenses incurred by the Group's investment property that generated rental income were $1,109, $933, $3,012and $2,989, respectively.

The fair value of the investment property was not significantly different from those disclosed in the Note 6(i) of the annual consolidated financial statements for the year ended December 31, 2024.

Please refer to Note 8 for details of the investment property pledged as collateral.

(k) Intangible assets

Software Carrying amounts: Balance at January 1, 2025 $ 1,598 Balance at September 30, 2025 $ 1,522 Balance at January 1, 2024 $ 1,213 Balance at September 30, 2024 $ 1,336	Software	Other intangible assets	Total
		19,048	20,646
		19,048	20,570
		19,048	20,261
		19,048	20,384

The intangible assets of the Group have no significant additions, dispositions, impairment, or reversals for the nine months ended September 30, 2025 and 2024. Please refer to Note 12 for the amount of depreciation, and for other related information, please refer to Note 6(j) of the consolidated financial statement for the year ended December 31, 2024.

～ 18 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

(l) Short-term borrowings

The significant details of short-term borrowings were as follows:

2025.09.30	2024.12.31	2024.09.30
	13,653	14,145
	1,931,716	2,031,375
3.61%	3.61%	4.67%

Please refer to Note 8 for details of the related assets pledged as collateral.

(m) Long-term borrowings

The significant terms and conditions of long-term borrowings were as follows:

2025.09.30	2024.12.31	2024.09.30
	1,058,000 (50,000)	1,070,500 (50,000)
	1,008,000	1,020,500
2.10%~2.27%	1.98%~2.28%	1.98%~2.28%

Please refer to Note 8 for details of the related assets pledged as collateral.

Under credit/loan agreements, the Group shall maintain certain consolidated financial ratios on balance sheet date of semi and annual financial statements. (i.e. liabilities to equity ratio, interest coverage ratio, tangible net worth, etc.) Otherwise, the loans are due and payable immediately.

(n) Lease liabilities

The Group lease liabilities were as follows:

Current $ Non-current $	2025.09.30 1,371 3,857	2024.12.31	2025.09.30
		1,370	294
		4,922	-

For the maturities analysis, please refer to Note 6(w).

The amounts recognized in profit or losses were as follows:

For the three months ended September 30, 2025 2024 31 2 125 133	For the nine months ended September 30,	For the nine months ended September 30,
2025 31 125	2025	2024 16 437
	100
	426

～ 19 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

The amounts recognized in the statement of cash flows for the Group was as follows:

The amounts recognized in the statement of cash flows	for the Group was as follows:	for the Group was as follows:
Total cash outflow for leases $	For the nine months ended September 30,
	2025 1,541	2024
		1,824

1. Real estate leases

As of September 30, 2025, December 31, 2024 and September 30, 2024, the Group leases houses and buildings as office premises and factories. The lease period of office premises is usually two to three years. The lease period of factories is usually five to six years. Part of the lease includes the option to extend the same period as the original contract when the lease period expires.

Other leases

The Group leases parking spaces, photocopying equipment and dormitories for a lease period of one year. These leases are short-term leases. The Group has elected not to recognize right-of-use assets and lease liabilities for these leases.

(o) Operating Leases

The Group leases its investment properties. Since almost all risks and rewards belonging to the ownership of the underlying asset have not been transferred and paid, these lease contracts are classified as operating leases. Please refer to Note 6 (j) Investment property for details.

Maturity analyses of lease payments, showing the undiscounted lease payments to be received after the reporting date are as follows:

Less than one year $ One to two years Two to three years Three to four years Four to five years More than five years Total undiscounted lease payments $	2025.09.30	2024.12.31	2024.09.30
	87,610 80,904 66,504 47,110 40,522 34,842	80,546 52,212 47,893 45,595 43,404 64,987	88,407 46,556 41,472 40,781 40,460 76,218
	357,492	334,637	333,894

Please refer to Note 6(v) for further information of the rental revenues incurred by leasing investment properties for the six months ended September 30, 2025 and 2024.

(p) Employee benefits

1. Defined benefit plans

Management believes that there was no material volatility of the market, no material reimbursement and settlement or other material one-time events since prior fiscal year. As a result, the pension cost in the accompanying interim consolidated financial statements was measured and

～ 20 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

disclosed according to the actuarial report as of December 31, 2024 and 2023.

The expenses recognized in profit or loss for the Group was as follows:

For the three months ended September 30,	For the three months ended September 30,	For the nine months ended September 30,	For the nine months ended September 30,
2025	2024	2025	2024
	72 4	127 13	218 12
	76	140	230

2. Defined contribution plans

The Group’s expenses under the pension plan cost to the Bureau of Labor Insurance were as follows:

For the three months ended September 30,	For the three months ended September 30,	For the nine months ended September 30,	For the nine months ended September 30,
2025	2024	2025	2024
	2,134 404 440 502	6,323 964 1,520 1,565	6,547 1,229 1,385 1,575
	3,480	10,372	10,376

The pension expenses contributed by the foreign entities following the local regulations amounted to $2,300, $2,062, $6,949 and $6,091 for the three months and nine months ended September 30, 2025 and 2024, respectively.

3. Provisions for Employee Benefits

The provisions for employee benefits for the Group were as follows:

Net defined benefit liability, non-current $ Accumulating compensated absences (Other payables) $	2025.09.30	2024.12.31	2025.09.30
	11,064 20,784	11,040 19,451	17,484 20,675
	31,848	30,491	38,159

～ 21 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

(q) Income taxes

The components of income tax expense were as follows:

come taxes The components of income tax expense were as follows:	me tax expense were as follows:	me tax expense were as follows:
For the three months ended September 30, 2025 2024 Current tax expense Current period $ 35,912 38,862 Prior period adjustments 2,217 Current period $ 38,129 38,862	For the three months ended September 30,		For the nine months ended September 30,
	2025	2024	2025	2024
		38,862	107,753 3,532	127,720 176
		38,862	111,285	127,896

For the nine months ended September 30, 2025and 2024 there were no income tax recognized in equity and other comprehensive income.

The Company’s income tax returns through 2023 have been examined and approved by the Tax Authority.

(r) Capital and reserves

Except for the following disclosure, there was no significant change for capital and other equity the nine months ended September 30, 2025 and 2024. For the related information, please refer to Note 6(q) of the consolidated financial statements for the year ended December 31, 2024.

1. Retained earnings

According to the Articles of Incorporation, after-tax earnings are initially used to offset cumulative losses, and 10% of the remainder is set aside as a legal reserve, except when the legal reserve of the Company reaches paid-in capital of the Company. Special reserve may be appropriated if necessary, and then any remaining profit together with any undistributed retained earnings shall be distributed according to the distribution plan proposed by the Board of Directors and submitted to the shareholders’ meeting for approval.

1) Legal reserve

If the Company experienced profit for the year, the meeting of shareholders shall decide on the distribution of the statutory earnings reserve either by new shares or by cash, of up to 25 percent of the actual share capital.

2) Special reserve

In accordance with Permit No.1010012865 as issued by the Financial Supervisory Commission on 6 April 2012, a special reserve equal to the contra account of other shareholders' equity is appropriated from the current and prior period earnings. When the debit balance of any of the contra accounts in the shareholders' equity is reversed, the related special reserve can be reversed. The subsequent reversals of the contra accounts in shareholders' equity shall qualify

～ 22 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

for additional distributions.

3) Earnings Distribution

On May 22, 2025, the shareholders’ meeting determined the earnings distribution for 2024. On May 21, 2024, the shareholders’ meeting determined the earnings distribution for 2023. The relevant dividend distribution to shareholders was as follows:

2024 Dividend per share ($) Amount Dividends distributed to common shareholders Cash $ 3.50 534,270	2024	2024	2023	2023
	Dividend per share ($)	Amount	Dividend per share ($)	Amount
		534,270	3.00	457,946

(s) Earnings per share

The following are the calculation of basic earnings per share and diluted earnings per share:

For the three months ended September 30,	For the nine months ended September 30,	For the nine months ended September 30,
2025 2024	2025	2024
	414,693	520,117
152,649 152,649	152,649	152,649
	2.72	3.41
	414,693	520,117
152,649 152,649	152,649	152,649

～ 23 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

For the three months ended September 30,	For the nine months ended September 30,	For the nine months ended September 30,
2025 2024	2025	2024
	402	365
152,958 152,916	153,051	153,014
	2.71	3.40

(t) Revenue from contracts with customers

Disaggregation of revenue

For the three months ended September 30, 2025	For the three months ended September 30, 2025	For the three months ended September 30, 2025
Power Supplies	Marco Switches	Total
76,714 16,597 89,989 52,939 1,240 16,598	36,270 102,600 26,216 2,611 45,993 60,652	112,984 119,197 116,205 55,550 47,233 77,250
254,077	274,342	528,419
254,077	274,342	528,419

～ 24 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

For the three months ended September 30, 2024	For the three months ended September 30, 2024	For the three months ended September 30, 2024
Power Supplies	Marco Switches	Total
90,194 13,249 72,850 59,770 15,027	54,039 112,407 25,404 6,312 63,556 70,344	144,233 125,656 98,209 66,082 63,556 85,371
251,045	332,062	583,107
251,045	332,062	583,107
Power Supplies	Marco Switches	Total
249,695 36,830 271,746 150,719 2,632 62,180	121,892 316,610 77,599 17,765 156,159 189,364	371,587 353,440 349,345 168,484 158,791 251,544
773,802	879,389	1,653,191
773,802	879,389	1,653,191

～ 25 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

For the nine months ended September 30, 2024	For the nine months ended September 30, 2024	For the nine months ended September 30, 2024
Power Supplies	Marco Switches	Total
254,823 33,697 237,560 155,702 2,323 88,475	149,143 317,667 68,821 17,490 180,256 199,437	403,966 351,364 306,381 173,192 182,579 287,912
772,580	932,814	1,705,394
772,580	932,814	1,705,394
2025.09.30	2024.12.31	2025.09.30
17,953	15,225	16,112

Contract liabilities are mainly derived from the difference between the time when the Group transfers goods or services to the customer to meet the performance obligation and the time when the customer pays. The Group will transfer revenue when the performance obligation is met.

(u) Remuneration of employees, directors and supervisors

On May 22, 2025, the Company resolved at the shareholders’ meeting to amend its Articles of Incorporation. According to the amended Articles of Incorporation, earnings shall first be used to offset any accumulated deficit. Thereafter, a minimum of 2% of the remaining earnings shall be appropriated as employee remuneration (of which no less than 5% shall be allocated to base-level employees), and a maximum of 2% shall be appropriated as remuneration for directors and supervisors.

The recipients of shares and cash may include employees of the Company’s affiliated companies who meet certain conditions. Distribution remuneration for employees, directors and supervisors shall be submitted to the shareholders' meeting report.

The remuneration of employees amounted to $5,634, $6,361, $16,058 and $20,236 and the remuneration of directors amounted to $3,756, $4,241, $10,706 and $13,491 for the nine months ended September 30, 2025 and 2024, respectively. These amounts are calculated using the Company's profit before tax for each period described above, and are determined using the earnings

～ 26 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

allocation method which stated under the Company's article. These remunerations were expensed under operating cost or expenses in September 30, 2025 and 2024. If there is a difference between the actual distribution amount in the following year and the estimated amount, it shall be dealt with according to the change in accounting estimates, and the difference shall be recognized as the profit and loss of the following year.

The remuneration of employees amounted to $25,835 and $21,158, and the remuneration of directors amounted to $17,223 and $14,105. There were no differences between the amounts to be distributed as remuneration to employees and directors and those of the estimation made by the Company. Related information would be available at the Market Observation Post System after the meeting of the shareholders has been convened.

(v) Non-operating income and expenses

1. Interest income

The details of interest income were as follows:

Interest income The details of interest	income were as follows:	income were as follows:
Interest income $	For the three months ended September 30,		For the nine months ended September 30,
	2025	2024	2025	2024
	5,680	9,490	16,518	28,032

2. Other income

The details of other income were as follows:

For the three months ended September 30,	For the three months ended September 30,	For the nine months ended September 30,	For the nine months ended September 30,
2025	2024	2025	2024
25,728 5,924	28,507 4,893	84,840 15,469	86,869 17,203
31,652	33,400	100,369	104,072

3. Other income and losses

The details of other income and losses were as follows:

～ 27 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

For the three months ended September 30,	For the three months ended September 30,	For the nine months ended September 30,	For the nine months ended September 30,
2025	2024	2025	2024
- 22,994 233 (1,033)	(8) (14,327) 488 (2,820)	(33) (20,502) 1,211 (2,671)	(8) 35,789 1,367 (5,638)
22,194	(16,667)	(21,995)	31,510

4. Finance costs

The details of finance expenses were as follows:

For the three months ended September 30,	For the three months ended September 30,	For the nine months ended September 30,	For the nine months ended September 30,
2025	2024	2025	2024
5,716 31	6,355 2	17,646 100	18,240 16
5,747	6,357	17,746	18,256

(w) Financial instruments

Except for the contention mentioned below, there was no significant change in the fair value of the Group’s financial instruments and degree of exposure to credit risk, liquidity risk and market risk arising from financial instruments. For the related information, please refer to Note 6(v) of the consolidated financial statements for the year ended December 31, 2024.

1. Credit risk of receivables

For credit risk exposure of note and trade receivables, please refer to Note 6(d). Other financial assets at amortized cost include other receivables; please refer to Note 6(e) for relevant information and the provision of allowance loss.

All of these financial assets are considered to have low risk, and thus, the impairment provision recognized during the period was limited to 12 months expected losses. Regarding how the financial instruments are considered to have low credit risk, please refer to Note 4(g) of the

～ 28 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

consolidated financial statements for the year ended December 31, 2024.

2. Liquidity risks

The following are the contractual maturities of financial liabilities of the Group, including the impact of estimation of interest:

Carrying amount	Contractual cash flows	6 to 12 month s	1 to 2 years	2 to 5 years	More than 5 years
	1,073,141 14,392 10,896 259,274 5,462 226,715 22,671	35,896 - - - 738 - 1,073	70,794 - - - 1,475 - 261	930,461 - - - 2,511 - 10,760	- - - - - - 6,790
	1,612,551	37,707	72,530	943,732	6,790
Carrying amount	Contractual cash flows	6 to 12 month s	1 to 2 years	2 to 5 years	More than 5 years
	1,126,032 13,848 12,046 223,877 6,629 233,541 24,362	35,965 - - - 748 - 3,515	71,070 - - - 1,495 - 1,074	982,827 - - - 3,633 - 621	- - - - - - 6,813
	1,640,335	40,228	73,639	978,081	6,813

～ 29 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

Carrying amount September 30, 2024 Non-derivative financial liabilities Secured bank loans $ 1,070,500 Unsecured bank loans 14,145 Notes payable 12,316 Accounts payable 232,264 Lease liabilities 294 Other payables 212,262 Guarantee deposits received 24,316 $ 1,566,097	Carrying amount	Contractual cash flows	Less than 6 months	6 to 12 months	1 to 2 years	2 to 5 years More than 5 years
		1,144,215 14,248 12,316 232,264 295 212,262 22,316	36,241 14,248 12,316 232,264 295 212,262 718	36,159 - - - - - 13,640	71,335 - - - - - 1,151	1,00,480 - - - - - - - - - - - 2,005 6,802
		1,639,916	508,344	49,799	72,486	1,002,485 6,802

The Group is not expecting that the cash flows included in the maturity analysis could occur significantly earlier or at significantly different amounts.

3. Currency risks

1) Exposure to currency risks

The Group’s exposures to significant currency risk were those from its foreign currency denominated financial assets and liabilities as follows:

Foreign currency (In thousand) Financial assets Monetary items USD $ 11,569 1,220 EUR 2,360 CNY 28,394 JPY 106,468 Non-monetary items USD 14,889 CNY 88,248 EUR 2,563		2025.09.30
		Exchange rate	TWD
		USD：TWD 30.4700 USD：EUR 0.8511 EUR：TWD 35.8000 CNY：TWD 4.273 JPY：TWD 0.206 USD：TWD 31.6510 CNY：TWD 45115 EUR：TWD 35.8000	352,507 37,173 84,488 121,328 21,932 436,372 381,872 91,755

～ 30 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

2025.09.30

Foreign currency (In thousand)	Exchange rate JPY：TWD 0.206 USD：TWD 30.4700 USD：EUR 0.8511 CNY：TWD 4.2730 2024.12.31	TWD
		20,457 27,271 44,334 68,633
Foreign currency (In thousand)	Exchange rate	TWD
	USD：TWD 32.7810 USD：EUR 0.9604 EUR：TWD 34.1316 CNY：TWD 4.4913 USD：TWD 32.7810 CNY：TWD 4.4913 EUR：TWD 34.1316 USD：TWD 32.7810 USD：EUR 0.9604 CNY：TWD 4.4913 2024.09.30	373,015 25,209 36,896 97,753 463,917 386,199 74,509 15,714 39,042 48,591
Foreign currency (In thousand)	Exchange rate	TWD
	USD：TWD 31.6510 USD：EUR 0.8951	729,429 23,358

～ 31 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

2024.09.30

		2024.09.30
Foreign currency (In thousand) EUR 2,603 CNY 18,220 Non-monetary items USD 13,787 CNY 84,489 EUR 2,107 Financial Liabilities Monetary items USD $ 774 752 CNY 11,728	Foreign currency (In thousand)	Exchange rate	TWD
		EUR：TWD 35.3621 CNY：TWD 4.5115 USD：TWD 31.6510 CNY：TWD 4.5115 EUR：TWD 35.3621 USD：TWD 31.6510 USD：EUR 0.8951 CNY：TWD 4.5115	92,048 82,200 436,372 381,172 74,508 24,498 23,802 52,911

2) Sensitivity analysis

The Group’s exposure to foreign currency risk arises from the translation of the foreign currency exchange gains and losses on cash and cash equivalents, accounts receivable, other receivables, loans, accounts payable and other payables that are denominated in foreign currency. A 1% depreciation or appreciation of the functional currency against all the non-functional currency as of September 30, 2025 and 2024 would have increased or decreased the net profit after tax by $3,654 and $6,607, respectively. The analysis is performed on the same basis for both periods.

3) Gains or losses on foreign exchange

As Group deals with diverse foreign currencies, therefore, the gains or losses on foreign exchange were summarized as a single amount. For the three months ended September 30, 2025 and 2024, the foreign exchange gain (loss), including realized and unrealized, amounted to $20,502 and $35,789, respectively.

4. Interest rate analysis

The Group’s financial assets and financial liabilities with interest rate exposure risk were noted in the liquidity risk section.

The following sensitivity analysis in interest rates is based on the risk exposure to interest rates on the reporting date. For variable rate instruments, the sensitivity analysis assumes the variable rate liabilities are outstanding for the whole year on the reporting date.

If the interest rate increases or decreases by 1%, the Group’s profit will decrease or increase by

～ 32 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

$8,279 and $8,677 for the three months ended September 30, 2025 and 2024, respectively, assuming all other variable factors remain constant. This is mainly due to the Group's variable rate in borrowings.

Fair value of financial instruments
1) Fair value hierarchy

Financial assets at fair value through profit or loss are measured on a recurring basis. However, for financial instruments not measured at fair value whose carrying amount is estimated reasonably close to the fair value and for equity investments that has no quoted prices in the active markets and lease liabilities information is not required:

2025.09.30

Book Value		Fair Value	Fair Value
	Level 1	Level 2	Level 3	Total
	84,044	-	23,193	107,237
1,019,510 139,295 309,264 405	- - - -	- - - -	- - - -	- - - -
1,468,474	-	-	-	-
	84,044	-	23,193	107,237
	- - - - -	- - - - -	- - - - -	- - - - -
	-	-	-	-

～ 33 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

		2024.12.31	2024.12.31
Book Value		Fair Value
	Level 1	Level 2	Level 3	Total
	181,069	-	34,538	215,607
1,054,027 110,413 320,701 407	- - - -	- - - -	- - - -	- - - -
1,485,548	-	-	-	-
	181,069	-	34,538	215,607
	- - - - -	- - - - -	- - - - -	- - - - -
	-	-	-	-
		2024.09.30
Book Value		Fair Value
	Level 1	Level 2	Level 3	Total
	-	-	37,716	37,716
988,121 109,515 379,487 373	- - - -	- - - -	- - - -	- - - -
1,477,496	-	-	-	-
	-	-	37,716	37,716

～ 34 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

2024.09.30

			2024.09.30	2024.09.30
Book Value Financial liabilities at amortized cost Bank loans $ 1,084,645 Notes payable and accounts payable 244,580 Other payables 212,262 Lease liabilities 294 Guarantee deposits received 24,316 Total $ 1,566,097	Book Value		Fair Value
		Level 1	Level 2	Level 3	Total
		- - - - -	- - - - -	- - - - -	- - - - -
		-	-	-	-

2) Valuation techniques and assumption for financial instruments measured at fair value:

The fair value of financial assets and liabilities were decided in accordance with the solutions as follows:

(2.1) Funds are financial assets with standard terms which are traded in the active markets. Their fair values are based on the quoted market prices.
(2.2) The fair value of unquoted equity instruments were estimated using either the discounted cash flow model in which future cash flow were estimated and discounted or the fair value of the recognized assets and liabilities of the consolidated subsidiaries on the measurement day.
3) Transfers between levels

There were no transfers between any level of the fair value for the three months ended September 30, 2025 and 2024.

～ 35 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

4) The following table shows the movements in fair value measurements under level 3 of the fair value hierarchy:

Balance as of January 1, $ Total gains and losses recognized In profit or loss Purchase Disposals/pay off Effect of movements in exchange rate Balance as of September 30, $	At fair value through profit or loss	At fair value through profit or loss
	For the nine months	ended September 30,
	2025	2024
	34,538 34 249,017 (258,802) (1,594)	55,256 864 170,116 (190,515) 1,995
	23,193	37,716

The Group's measurement of the fair value of financial instruments is reasonable, but the use of different evaluation models or evaluation parameters may lead to different evaluation results. For financial instruments classified as level 3, a 0.5% up or down of the evaluation parameter changes would have increased (decreased) the net profit by $116.

5) Quantified information for significant unobservable inputs (Level 3) used in fair value measurement

The Group uses level 3 inputs to measure financial assets at fair value through profit or loss.

Quantified information of significant unobservable inputs was as follows:

Item Financial assets at fair value through profit or loss－ beneficiary certificate	Valuation Technique Net Asset Value Method	Significant Non-observable Input ‧ Market Interest Rate ‧ Net Asset Value	The Relationship between Significant Non-observable Input and FairValue
			‧ The higher discount rate is, the lower fair value will be.

(x) Financial risk management

There were no significant differences of the Group’s financial risk management and policies with those disclosed in Note (6)(w) of the consolidated financial statements for the year ended December 31, 2024.

(y) Capital Management

Management believes that the objectives, policies and processes of capital management of the Group have been applied consistently with those described in the consolidated financial statements for the

～ 36 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

year ended December 31, 2024. Also, management believes that there were no significant changes in the Group’s capital management information as disclosed in Note (6)(x) for the year ended December 31, 2024.

(y) Investing and financing activities not affecting current cash flow

The Group’s financing activities not affecting current cash flow were acquisition of right-of-use assets from leasing.

Reconciliation of liabilities arising from financing activities was as follows:

January 1, 2025	Cash flows	Non-cash changes	September 30, 2025 1,033,000 14,320 5,228 1,040,048 September 30, 2024 1,083,000 14,145 294 1,097,439
		Foreign exchange movement
	(37,500) (1,015)	- 667 (49)
	(38,515)	618
January 1, 2024	Cash flows	Non-cash changes
		Foreign exchange movement
	(25,000) (1,371)	- 540 15	1,083,000 14,145 294
	(26,371)	555	1,097,439

(7) Related Party Transactions

(a) Names and relationships with the Group:

The followings are entities that have had transactions with the Group during the periods covered in the

consolidated financial statements.

Names of related party LIN,CING-LONG	Relationships with the Group
	Substantive related party

(b) Significant transactions with related parties:

1. Other

The Group purchased 1,106 thousand shares of QUAN-FA from a substantive related party at a price

～ 37 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

of $10 per share on May 16, 2025, for a total consideration of $11,064.

Key management personnel compensation includes:

For the three months ended September 30,	For the three months ended September 30,	For the nine months ended September 30,	For the nine months ended September 30,
2025	2024	2025	2024
24,676 129	13,930 175	59,499 484	45,065 8,741 83
24,805	14,105	59,983	53,889

(8) Pledged Assets

The carrying values of pledged assets were as follows:

Pledged assets	Object 2025.09.30 long-term, short-term borrowings $ 791,838 long-term borrowings 1,955,137 $ 2,746,975	2025.09.30	2024.12.31	2024.09.30
Property, plant and equipment Investment property Total			795,117 1,962,818	796,211 1,965,378
			2,757,935	2,761,589

(9) Significant Commitments and Contingencies: None.

(10) Losses Due to Major Disasters: None.

(11) Subsequent Events: None.

～ 38 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

(12) Other

(a) The employee benefits, depreciation, depletion and amortization expenses categorized by function were as follows:

were as follows:
By function By item	For the three months ended September 30, 2025			For the three months ended September 30, 2024
	Operating costs	Operating and non-operating expense	Total	Operating costs	Operating and non-operating expense	Total
Employee benefits Salary Labor and health insurance Pension Others Depreciation Amortization	76,204 7,693 3,612 4,018 11,198 19	66,958 3,352 2,026 2,277 6,058 128	143,162 11,045 5,638 6,295 17,256 147	81,215 7,606 3,512 4,026 13,481 50	56,994 3,449 2,106 2,087 7,418 113	138,209 11,055 5,618 6,113 20,899 163

By function By item	For the nine months ended September 30, 2025	For the nine months ended September 30, 2025	For the nine months ended September 30, 2025	For the nine months ended September 30, 2024	For the nine months ended September 30, 2024	For the nine months ended September 30, 2024
	Operating costs	Operating and non-operating expense	Total	Operating costs	Operating and non-operating expense	Total
Employee benefits Salary Labor and health insurance Pension Others Depreciation Amortization	233,785 23,388 11,028 12,432 35,286 59	176,228 12,379 6,433 7,141 19,716 371	410,013 35,767 17,461 19,573 55,002 430	234,818 22,577 10,418 11,892 40,795 210	181,076 12,076 6,639 6,934 22,573 319	415,894 34,653 17,057 18,826 63,368 529

(13) Other disclosures

(a) Information on significant transactions

The following is the information on significant transactions required by the “Regulations Governing the Preparation of Financial Reports by Securities Issuers” for the Group for the three months ended September 30, 2025:

～ 39 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

1. Loans to other parties:

(In Thousands of USD)

Number	Name of Lender	Name of Borrower	Account Name	Related Party	Highest balance of financing to other parties during the Period (Note 3)	Ending Balance (Note 3)	Actual usage amount during the Period (Note 3)	Range of interest rates during the Period	Purposes of fund financing for the Borrower (Note 1)	Transaction amount for business between two Parties	Reasons for short-term Financing	Allowance for bad debt	Collateral	Collateral	Individual funding loan Limits (Note 2,3)	Maximum limit of fund Financing (Note 2,3)
													Item	Value
1	Zippy USA Inc.	Kobot International Inc.	Other receivables- related parties	Y	34,115 (USD 1,120)	34,115 (USD 1,120)	34,115 (USD 1,120)	1.51~ 2.50	2	-	Working Capital	-		-	609,670	609,670

Note 1: Purpose of fund financing for the borrower:

(1) For those companies with business contact, please fill in 1.
(2) For those companies with short-term financing needs, please fill in 2.

Note 2: (1) The Company’s total fund financing amount cannot exceed 40% of its net asset value.

(2) For those companies with business contact, the amount of each fund financing cannot exceed the trading amount between the two parties. If the trading amount exceeds 10% of its net asset value, the amount of each fund financing cannot exceed 10%of its net asset value. The trading amount means the higher of sales or purchases.
(3) For those companies with short-term financing needs, the amount of each fund financing cannot exceed 10%of its net asset value.
Note 3: The policies of loans to other parties for the subsidiaries:
(1) Total financing amount cannot exceed 2 times of the subsidiary’s net asset value.
(2) For those companies with short-term financing needs, the amount of each fund financing cannot exceed 10% of the subsidiaries net asset value.
(3) For the subsidiary leading to the foreign companies that are 100% directly or indirectly owned by the Company, the amount of fund financing cannot exceed 2 time of the subsidiary’s net asset value.

Note 4: The transactions and its limits with the Group, which were calculated based on the exchange rate at the end of the period, were eliminated in the consolidated financial statements.

2. Guarantees and endorsements for other parties:

(In Thousands of EUR/USD)

No.	Endorsement/ guarantee provider	Counter-party	Counter-party	Limitation on endorsement/ guarantee amount provided to each guaranteed party (Note 2)	Maximum balance for the year(Note 2)	Ending balance	Amount actually drawn	Amount of endorsement/ guarantee collateralized by properties	Ratio of accumulated endorsement/ guarantee to net equity per latest financial statements	Maximum endorsement guarantee amount allowance (Note 2 and 3)	Guarantee provided by parent company	Guarantee provided by a subsidiary	Guarantee provided to subsidiaries in Mainland China
		Name	Nature of relationship (Note 1)
0 0	The Company 〞	Zippy (Dongguan) Electronics Co., Ltd. Zippy Technology Europe GmbH.	4 4	1,501,569 1,501,5694	45,690 (USD 1,500) 53,625 (EUR 1,500)	45,690 (USD 1,500) 53,625 (EUR 1,500)	- 14,300 (EUR 400)	- -	1.22% 1.43%	1,876,961 1,876,961	Y Y	N N	Y N
Note 1: (1) The Company has business with the receiving parties. (2) The Company holds directly or indirectly more than 50% of the common stock of the subsidiaries. (3) The Company holds directly or indirectly more than 50% by the investee. (4) The Company holds directly or indirectly more than 90% of the common stock of the subsidiaries. (5) Based on the needs of contracting projects, companies in the same industry or jointly created mutual insurance companies in accordance with contractual provisions.

(6) The stockholders of the Company provide guarantee for the investee to their stockholding percentage.
(7) The inter-industry is engaged in joint and several guarantees for the performance of the pre-sale house sales contract in accordance with the regulations of the Consumer Protection Law.

Note 2: (1) The maximum guarantees and endorsements provide by the Company cannot exceed 50% of net asset of the Company.

(2) The maximum guarantees and endorsements for individual counter party cannot exceed 40% of net asset of the Company.
(3) The maximum guarantees and endorsements provide by the Company and subsidiaries cannot exceed 50% of net asset of the Company.
(4) For those companies with business contact, the amount of each guarantees and endorsements cannot exceed the trading amount within twelve months between the two parties.

Note 3: the policies of loans to other parties for the subsidiaries:

(1) Total amount of guarantees and endorsements cannot exceed 2 times of the subsidiary’s net asset value.
(2) The amount of guarantees and endorsements for individual counter party cannot exceed 40% of net asset of the subsidiary or the net asset of the endorsed company is limited; if approved by the board of directors, the maximum endorsement guarantee of the subsidiary to other subsidiaries hold directly or indirectly 100% by a single parent company cannot exceed 2 time of the subsidiary’s net asset value.

Note 4: The amount of guarantees and endorsements were exchanged to New Taiwan Dollars in the actual exchange rate at the time of guarantee.

～ 40 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

Securities held as balance sheet date (excluding investment subsidiaries, associates and joint ventures) :

ventures) :
Name of holder	Category and name of security	Relationship with the Company	Account title	Ending balance				Note
				Shares/Units (thousands) (Note)	Carrying value	Percentage of ownership (%)	Fair value
The Company G-BRIM International Inc.	Fuh Hwa Money Market Beneficiary certificate	- - -	Financial assets at fair value through profit or loss 〞〞	5,552 - -	84,044 23,193	- -	84,044 23,193

Note: Refers to the number of fund units (thousand units)

Individual securities acquired or disposed of with accumulated amount exceeding the lower of TWD300 million or 20% of the capital stock: None.
Acquisition of individual real estate with amount exceeding the lower of TWD300 million or 20% of the capital stock: None.
Disposal of individual real estate with amount exceeding the lower of TWD300 million or 20% of the capital stock: None.
Related-party transactions for purchases and sales with amounts exceeding the lower of TWD100 million or 20% of the capital stock:

Name of company	Related party	Nature of relationship	Transaction details	Transaction details	Transaction details	Transaction details	Transactions with terms different from others	Transactions with terms different from others	Notes/Accounts receivable (payable)	Notes/Accounts receivable (payable)	Note
			Purchase/ Sale	Amount	Percentage of total purchases/sale	Payment terms	Unit price	Payment terms	Ending balance	Percentage of total notes/accounts receivable (payable)
The Compan 〞〞	y Zippy (Dongguan) Electronics Co., Ltd. Zippy USA Inc. Ltd. ZIPPY (Suzhou) Electronics Co. , Ltd.	Associate under equity method 〞〞	Purchases Procurement Sales Sales	289,123 166,398 183,530 222,816	57.80% - % 12.10% 14.69%	2~4 months 2~4 months 2~4 months	Note 1 Note 1 Note 1	Note 2 Note 2 Note 2	(68,634) - 5,553 35,983	20.99% -% 1.80% 11.69%

Note 1: Based on the negotiated price while trading.

Note 2: Normal customers are within one to two months, while related party transactions are within two to four months.

Receivables from related parties with amounts exceeding the lower of NT$100 million or 20% of capital stock: None.
Trading in derivative instruments: None.

～ 41 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

10. Business relationships and significant inter-company transactions:

No.	Name of company	Name of counterparty	Existing relationship with the counter- party	Transactions	Transactions	Transactions	Transactions
				Account name	Amount	Terms of trading	Percentage of the consolidated total revenue or total assets
0 0 0 0 0 0 0 0 0 0 1 2 3 3	The Company 〞〞〞〞〞〞〞〞〞 ZIPPY USA Inc. Zippy (Dongguan) Electronics Co., Ltd. QUAN-FA Corporation Company 〞	ZIPPY USA Inc. Zippy Technology Europe Gmbh. ZIPPY(Suzhou) Electronics Co. , Ltd. G-BRIM International Inc. Zippy (Dongguan) Electronics Co., Ltd. ZIPPY USA Inc. Zippy Technology Europe Gmbh. ZIPPY(Suzhou) Electronics Co. , Ltd. G-BRIM International Inc. Zippy (Dongguan) Electronics Co., Ltd. Kobot International Inc. The Company 〞〞	1 1 1 1 1 1 1 1 1 1 3 2 2 2	Sales Sales Sales Sales - Account Receivable Account Receivable Account Receivable Account Receivable Account Payable Other Receivable Sales Sales Account Receivable	183,530 80,891 222,816 16,087 166,398 5,553 44,898 35,983 3,650 68,634 34,126 289,123 43,934 16,764	Negotiated price Negotiated price Negotiated price Negotiated price Procurement Two to four months Two to four months Two to four months Two to four months Note1 Loan Negotiated price Negotiated price Two to four months	11.10% 4.89% 13.48% 0.97% -% 0.10% 0.82% 0.66% 0.07% 1,26% 0.62% 17.49% 2.66% 0.31%

Note 1: In principle, the payment period depends on the capital needs, and the purchase is made by prepayment of part of the payment for the payment.

Note 2: The labeling method is as follows:
(1) Parent company labeled 0.
(2) Subsidiaries labeled in number sequence from 1.
Note 3: Relationship is classified into three types:
(1) Parent company to subsidiary.
(2) Subsidiary to parent company.
(3) Subsidiary to subsidiary.

Note 4: The transaction amount is calculated as a proportion of the consolidated revenue or assets. If categorized as an asset or liability, the calculation is compared with the consolidated asset; if categorized as income or loss, the calculation is compared with the consolidated income or loss.

Note 5: The transactions with the Group were eliminated in the consolidated financial statements.

～ 42 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

(b) Information on investment:

The following is the information on investees for the three months ended September 30, 2025 (excluding investees in Mainland China):

Unit: Thousand Shares

Investor company	Investee company	Location	Main businesses and products	Original investment amount	Original investment amount	Balance as of September 30, 2025	Balance as of September 30, 2025	Balance as of September 30, 2025	Net income (loss) of the investee (Note 1)	Share of profits/losses of investee (Note 1)	Note
				September 30, 2025	December 31, 2024	Shares/Units (In thousands)	Percentage of ownership	Carrying value
The Company 〞〞〞〞 Zippy International Holding Ltd.	Zippy USA Inc. Zippy International Holding Ltd. QUAN-FA Corporation Company Zippy Technology Europe GmbH. Landmark International Holding Ltd. Kobot International Inc.	USA BVI Taiwan Germany Samoa USA	Trading in micro switches, power supplies, and computer accessories Reinvestment business Wire and cable manufacturing, electronic component manufacturing Trading in electrical parts and computer accessories Reinvestment business Leasing	8,247 325,823 16,425 12,573 145,906 16,470	8,247 325,823 5,360 12,573 145,906 16,470	300 10,234 5,599 (Note 2) 4,425 (Note 2)	100.00% 100.00% 79.66% 100.00% 100.00% 100.00%	297,288 318,213 70,608 74,725 204,426 148,821	12,690 12,051 1,922 13,244 10,270 10,256	12,690 12,051 1,922 13,244 10,270 10,256	Subsidiary 〞〞〞〞 Indirect subsidiary

Note 1: Based on the financial report of the investment company audited by CPA to recognize under equity method.

Note 2: Obtaining equity.

Note 3: The aforementioned inter-company transactions were eliminated in the consolidated financial statements.

～ 43 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) March 31, 2024 and 2023

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

(c) Information on investment in Mainland China:

The names of investees in Mainland China, the main businesses and products, and other information:

==> picture [472 x 246] intentionally omitted <==

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

(In Thousands of USD)
Investment flows Accumulated
Accumulated outflow of Investment Accumulated
Total amount Method of investment from outflow of investment from Taiwan as of Net income (losses)income remittance ofearnings in
Main businesses of paid-in investment Taiwan as of September 30, (losses) of the Percentage of (Note 2 and Book value current period
Name of investee and products capital (Note 1) January 1, 2025 Out-flow Inflow 2025 investee ownership 3) (Note 2 and 3) (Note 10)
Zippy (Dongguan) Mainly produce 276,957 (2) 276,957 - - 276,957 (656) 100.00% (656) 170,476 -
Electronics Co., Ltd. various switches, power supplies, molds, computer (USD 8,500 and equipment (USD 8,783) (USD 8,783)
peripheral investment
equipment, USD 283)
computer optical
fiber parts and sales
ZIPPY(Suzhou) Mainly sell 82,375 (2) 82,375 - - 82,375 4,473 100.00% 4,473 91,322 -
Electronics Co. , Ltd. computer key components, power (USD 2,500) (USD 2,500) (USD 2,500)
supplies, precision
ceramics, precision
molds and key
components of
network equipment
G-BRIM Mainly engaged in 49,333 (2) 49,333 - - 49,333 5,922 100.00% 5,922 115,285 -
International Inc. electronic products,
plastic products, (USD 1,500) (USD 1,500) (USD 1,500)
rubber products,
hardware products,
import and export
and related
supporting
businesses, etc.
----- End of picture text -----

Note 1: There are three ways of investments as following:

(a) Direct investment in Mainland China.
(b) Indirect investment in Mainland china through a subsidiary in a third place (Zippy International Holding Ltd. and Landmark International Ltd.). (c) Others

Note 2: The base of recognition of investment income (loss) is the financial statement audited by CPA of the investee company.

Note 3: The inter-company transactions with the Company were eliminated in the consolidated financial statements

Limitation on investment in Mainland China:

imitation on investment in	Mainland China:
Accumulated Investment in Mainland China as of September 30, 2025	Investment Amounts Authorized by Investment Commission, MOEA	Upper Limit on Investment (Note 3,4)
389,498) (USD 12,783)	396,110) (USD 13,000)	2,263,170

Note 1: The amount of paid-in capital and accumulated investment in Mainland China were exchanged to New Taiwan Dollars in historical exchange rates. Others were exchanged to New Taiwan Dollars in spot rate at the date of the audited entity's financial reports. Note 2: The upper limit on investment is 60% of net value.

3. Significant transactions:

The significant inter-company transactions, which eliminated in the consolidated financial statements, with the subsidiary in Mainland China for the three months ended September 30, 2025, are disclosed in “Information on significant transactions”.

～ 44 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) March 31, 2024 and 2023

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

(14) Segment Information

(a) Information about reportable segments and their measurement and reconciliations

The Group reportable segments: Power Supply Division, Switch Division, and others. Each division independently manufactures and sells related products. The reportable ds of the Group provide different products based on product business units. Since each product business unit requires different technologies and marketing strategies, it must be managed separately. Taxation is not able to be allocated to each reportable segment. In addition, all reportable segments include depreciation and amortization and other significant non-cash items. The reportable amount is the same as the report used by the chief operating decision maker. The operating segment accounting policies are similar to those described in Note (4) “Significant accounting policies”. Reportable segment profit or loss is based on operating profit or loss before taxation, and as the base of performance evaluation.

Information and reconciliations of operating segments of the Group:

	For the three months ended September 30, 2025	For the three months ended September 30, 2025	For the three months ended September 30, 2025
Power supply	Switch	Other	Adjustment and Elimination	Total
	274,342 156,133	- -	- (273,806)	528,419 -
	430,475	-	(273,806)	528,419
	72,323	4,868	5,150	187,326

	For the three months ended September 30, 2024	For the three months ended September 30, 2024	For the three months ended September 30, 2024
Power supply	Switch	Other	Adjustment and Elimination	Total
	332,062 177,228	- -	- (267,219)	583,107 -
	509,290	-	(267,219)	583,107
	126,826	4,206	(10,530)	203,741

Power supply	Switch	Other	Adjustment and Elimination	Total
	879,389 509,907	- -	- (834,348)	1,653,191 -
	1,389,926	-	(834,348)	1,653,191
	231,318	14,617	(17,075)	526,276

～ 45 ～

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) March 31, 2024 and 2023

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

	For the nien months ended September 30, 2024	For the nien months ended September 30, 2024	For the nien months ended September 30, 2024
Power supply	Switch	Other	Adjustment and Elimination	Total
	932,814 484,359	- -	- (773,615)	1,705,394 -
	1,417,173	-	(773,615)	1,705,394
	339,512	13,745	34,579	648,435

Intersegment revenues for the three months ended September 30, 2025 and 2024, which amounted to $257,288 and $249,720, respectively, should be eliminated from total revenues of reportable segments.

～ 46 ～

AI assistant

ZIPPY — Interim / Quarterly Report 2025

52069_rns_2025-11-12_0d9f78f0-e231-4e68-9d23-dbbc088d4872.pdf

ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS

Table of contents

Independent Auditors’ Review Report

Introduction

Scope of Review

Basis for Qualified Conclusion

Qualified Conclusion

KPMG

Notes to Readers

(ENGLISH TRANSLATION OF CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN CHINESE) REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS September 30, 2025, December 31, 2024 and September 30, 2024 (EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY For the Nine Months Ended September 30, 2025 and 2024 (EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(1) Overview

(2) Financial Statements Authorization Date and Authorization Process

(3) New Standards, Amendments and Interpretations not yet Adopted:

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

Effective date per IAS

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(4) Summary of Significant Accounting Policies

1. List of subsidiaries in the consolidated financial statements

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

(5) Significant Accounting Judgments, Estimation, Assumptions, and Sources of Estimation Uncertainty

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(e) Other receivables

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(f) Inventories

(g) Acquisition of Non-controlling Interests

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(h) Property, plant and equipment

(i) Right-of-use assets

(j) Investment property

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(k) Intangible assets

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

(l) Short-term borrowings

(n) Lease liabilities

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

1. Real estate leases

(o) Operating Leases

(p) Employee benefits

1. Defined benefit plans

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

2. Defined contribution plans

3. Provisions for Employee Benefits

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(q) Income taxes

(r) Capital and reserves

1. Retained earnings

1) Legal reserve

2) Special reserve

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

(s) Earnings per share

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(English Translation of Consolidated Financial Statements Originally Issued in Chinese)

REVIEWED ONLY, NOT AUDITED IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS ZIPPY TECHNOLOGY CORP. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) September 30, 2025 and 2024

(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)

ZIPPY Interim / Quarterly Report 2025