^{}[] Stock Code: : 8048

RUBY TECH CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REVIEW REPORT

THREE MONTHS ENDED MARCH 31, 2026 AND 2025

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

INDEPENDENT AUDITORS' REVIEW REPORT

Ruby Tech Corp.

Introduction

We have reviewed the accompanying consolidated balance sheets of Ruby Tech Corp. and its subsidiaries as of March 31, 2026 and 2025, and the related consolidated statements of comprehensive income, the consolidated statements of changes in equity and cash flows for the three months ended March 31, 2026 and 2025, and the related notes to the consolidated financial statements, including material accounting policy information (collectively referred to as the "consolidated financial statements"). Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and 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

We conducted our reviews in accordance with the Standards on Review Engagements of the Republic of China 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit 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.

Conclusion

Based on our reviews, nothing has come to our attention that caused us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of the merged company as of March 31, 2026 and 2025, its consolidated financial performance and its consolidated cash flows for the three months ended March 31, 2026 and 2025 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34 "Interim Financial Reporting" 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 Lin, Shu-Ju and Chang, Chun-I.

Deloitte & Touche
Taipei, Taiwan
Republic of China
May 8, 2026

^{}[] Notice to Readers

For the convenience of readers, this report has been translated into English from the original Chinese version. The English version has not been reviewed by independent auditors. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese-language independent auditors’ review report and consolidated financial statements shall prevail.

RUBY TECH CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

March 31, 2026, December 31, 2025 and March 31, 2025

Unit: NT$ thousand

Code	Assets	March 31, 2026		December 31, 2025		March 31, 2025
Code	Assets	Amount	%	Amount	%	Amount	%
Current Assets
1100	Cash and cash equivalents (Notes 4 and 6)	$ 327,285	21	$ 357,349	25	$ 275,575	19
1110	Current financial assets measured at fair value through profit or loss (Notes 4 and 7)	9,792	1	28,013	2	25,713	2
1120	Current financial assets measured at fair value through other comprehensive income (Notes 4 and 8)	87,730	6	72,011	5	83,632	6
1136	Current financial assets measured at amortized cost (Notes 4, 9 and 31)	424,802	28	388,616	27	419,449	29
1150	Notes receivable (Notes 4, 10 and 23)	2,306	-	-	-	-	-
1170	Accounts receivable (Notes 4, 10 and 23)	177,081	11	168,214	12	175,601	12
1200	Other receivables (Notes 4 and 10)	8,640	-	6,047	-	5,154	-
1220	Income tax receivable for the current period (Note 4)	162	-	162	-	162	-
130X	Inventories (Notes 4, 5, and 11)	198,683	13	128,135	9	149,968	10
1470	Other current assets (Note 16)	9,940	1	6,569	-	7,662	1
11XX	Total current assets	1,246,421	81	1,155,116	80	1,142,916	79
Non-Current Assets
1600	Property, plant and equipment (Notes 4 and 13)	261,830	17	263,621	18	271,121	19
1755	Right-of-use assets (Notes 4 and 14)	5,955	1	7,032	1	5,038	1
1780	Other intangible assets (Notes 4 and 15)	4,354	-	4,493	-	4,561	-
1840	Deferred income tax assets (Note 4)	8,611	1	9,089	1	13,842	1
1975	Net defined benefit assets - non-current (Notes 4 and 20)	2,996	-	2,746	-	44	-
1990	Other non-current assets (Note 16)	4,151	-	4,148	-	3,634	-
15XX	Total non-current assets	287,897	19	291,129	20	298,240	21
1XXX	Total Assets	$ 1,534,318	100	$ 1,446,245	100	$ 1,441,156	100
Code	Liabilities and Equity
Current Liabilities
2130	Contract liabilities - current (Notes 4 and 23)	$ 25,678	2	$ 27,350	2	$ 24,064	2
2150	Notes payable (Note 17)	72,040	5	61,236	4	47,022	3
2170	Accounts payable (Note 17)	121,932	8	64,820	5	73,632	5
2219	Other payables (Note 18)	77,358	5	92,211	7	72,421	5
2230	Income tax payable for the current period (Note 4)	24,772	2	19,561	1	22,636	2
2250	Liability provisions - current (Notes 4 and 19)	1,207	-	1,487	-	1,849	-
2280	Current lease liabilities (Notes 4 and 14)	4,121	-	4,301	-	2,926	-
2399	Other current liabilities (Note 18)	2,898	-	3,496	-	1,311	-
21XX	Total current liabilities	330,006	22	274,462	19	245,861	17
Non-Current Liabilities
2570	Deferred income tax liabilities (Note 4)	1,156	-	1,042	-	1,412	-
2580	Lease liabilities - non-current (Notes 4 and 14)	1,857	-	2,748	-	2,114	-
2670	Other non-current liabilities (Note 18)	215	-	209	-	213	-
25XX	Total non-current liabilities	3,228	-	3,999	-	3,739	-
2XXX	Total Liabilities	333,234	22	278,461	19	249,600	17
Equity attributable to owners of the Company (Notes 21 and 27)
3110	Capital - common stock	577,058	37	577,058	40	577,838	40
3200	Capital surplus	42,532	3	39,460	3	38,969	3
Retained earnings
3310	Legal reserve	225,303	15	225,303	16	210,984	15
3320	Special reserve	14,229	1	14,229	1	-	-
3350	Undistributed earnings	373,010	24	340,249	23	376,694	26
3300	Total retained earnings	612,542	40	579,781	40	587,678	41
3400	Other equity interest	( 31,048 )	( 2 )	( 28,515 )	( 2 )	( 10,588 )	( 1 )
3500	Treasury shares (Note 22)	-	-	-	-	( 2,341 )	-
3XXX	Total Equity	1,201,084	78	1,167,784	81	1,191,556	83
Total Liabilities and Equity		$ 1,534,318	100	$ 1,446,245	100	$ 1,441,156	100

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

RUBY TECH CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the three months ended March 31, 2026 and 2025

Unit: NT$ thousand Except Earnings Per Share (NTD dollars)

Code		Three Months Ended March 31
		2026		2025
		Amount	%	Amount	%
Operating Revenue (Notes 4, 23 and 30)
4100	Sales revenue	$ 262,892	97	$ 244,858	98
4800	Other operating revenue	6,786	3	4,544	2
4000	Total operating revenue	269,678	100	249,402	100
Operating Costs (Notes 4, 11, 20, 24 and 27)
5110	Cost of goods sold	172,014	64	164,866	66
5800	Other operating costs	6,803	2	2,944	1
5000	Total operating costs	178,817	66	167,810	67
5900	Gross Profit	90,861	34	81,592	33
Operating Expenses (Notes 20, 24 and 27)
6100	Marketing expenses	15,081	6	14,403	6
6200	Administrative expenses	11,495	4	10,094	4
6300	Research and development expenses	22,654	9	19,379	8
6450	Expected credit (reversal gains) impairment losses (Note 10)	( 1,965 )	( 1 )	3	-
6000	Total operating expenses	47,265	18	43,879	18
6900	Operating Net Profit	43,596	16	37,713	15
Non-Operating Income and Expenses (Note 24)
7010	Other income	715	1	610	-
7020	Other gains and losses	( 4,951 )	( 2 )	5,974	3
7050	Finance costs	( 20 )	-	( 3 )	-
7100	Interest income	3,041	1	2,785	1
7000	Total non-operating income and expenses	( 1,215 )	-	9,366	4
7900	Net Profit Before Tax	42,381	16	47,079	19
7950	Income Tax Expense (Notes 4 and 25)	9,620	4	8,930	4
8200	Net Profit for the Current Period	32,761	12	38,149	15
Other Comprehensive Income (Loss) (Note 21)
8310	Items that will not be reclassified subsequently to profit or loss:
8316	Unrealized gains (losses) on investments in equity instruments measured at fair value through other comprehensive income	( 3,227 )	( 1 )	3,201	2
		( 3,227 )	( 1 )	3,201	2
8360	Items that may be reclassified subsequently to profit or loss:
8361	Exchange differences on translation of foreign operations	867	-	550	-
8399	Income tax related to items that may be reclassified (Notes 4 and 25)	( 173 )	-	( 110 )	-
		694	-	440	-
8300	Other comprehensive income (after tax) for the period	( 2,533 )	( 1 )	3,641	2
8500	The Consolidated Total Comprehensive Income for the Period	$ 30,228	11	$ 41,790	17
8610	Net Profit Attributable to the Owner of the Company	$ 32,761	12	$ 38,149	15
8710	The Consolidated Total Comprehensive Income Attributable to the Owner of the Company	$ 30,228	11	$ 41,790	17
Earnings Per Share (Note 26)
9750	Basic	$ 0.57		$ 0.66
9850	Diluted	$ 0.56		$ 0.66

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

RUBY TECH CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

For the three months ended March 31, 2026 and 2025

Unit: NT$ thousand

Code		Capital – Common Stock	Capital Surplus				Retained Earnings			Exchange Differences on Translation of Foreign Operations	Unrealized Gains (Losses) On Financial Assets Measured at Fair Value Through Other Comprehensive Income	Treasury Shares	Total Equity
Code		Capital – Common Stock	Share Premium	Received Gift(s)	Treasury Share Transactions	Employee Stock Options	Legal Reserve	Special Reserve	Undistributed Earnings	Exchange Differences on Translation of Foreign Operations		Treasury Shares	Total Equity
A1	Balance as of January 1, 2025	$577,838	$26,756	$173	$12,040	$-	$210,984	$-	$338,545	($1,675)	($12,554)	($2,341)	$1,149,766
D1	Net profit for the three months ended March 31, 2025	-	-	-	-	-	-	-	38,149	-	-	-	38,149
D3	Other comprehensive income (loss) after tax for the three months ended March 31, 2025	-	-	-	-	-	-	-	-	440	3,201	-	3,641
D5	Total comprehensive income for the three months ended March 31, 2025	-	-	-	-	-	-	-	38,149	440	3,201	-	41,790
Z1	Balance as of March 31, 2025	$577,838	$26,756	$173	$12,040	$-	$210,984	$-	$376,694	($1,235)	($9,353)	($2,341)	$1,191,556
A1	Balance as of January 1, 2026	$577,058	$26,720	$173	$10,515	$2,052	$225,303	$14,229	$340,249	($1,652)	($26,863)	$-	$1,167,784
D1	Net profit for the three months ended March 31, 2026	-	-	-	-	-	-	-	32,761	-	-	-	32,761
D3	Other comprehensive income (loss) after tax for the three months ended March 31, 2026	-	-	-	-	-	-	-	-	694	(3,227)	-	(2,533)
D5	Total comprehensive income for the three months ended March 31, 2026	-	-	-	-	-	-	-	32,761	694	(3,227)	-	30,228
N1	Issuance of employee stock options	-	-	-	-	3,072	-	-	-	-	-	-	3,072
Z1	Balance as of March 31, 2026	$577,058	$26,720	$173	$10,515	$5,124	$225,303	$14,229	$373,010	($958)	($30,090)	$-	$1,201,084

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

RUBY TECH CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the three months ended March 31, 2026 and 2025

Unit: NT$ thousand

Code	Cash Flows from Operating Activities	Three Months Ended March 31
Code	Cash Flows from Operating Activities	2026	2025
A10000	Net profit before tax for the period	$ 42,381	$ 47,079
A20010	Income and expense items:
A20100	Depreciation expense	3,856	4,020
A20200	Amortization expense	233	264
A20300	Expected credit (reversal gains) impairment losses	( 1,965)	3
A20400	Net losses (gains) on financial assets measured at fair value through profit or loss	7,721	( 2,249)
A20900	Finance costs	20	3
A21200	Interest income	( 3,041)	( 2,785)
A21900	Share-based compensation expense	3,072	-
A23700	(Reversal gain) loss for inventory depreciation and slow-moving inventories	( 2,045)	10,728
A24100	Unrealized foreign exchange net gains	( 1,414)	( 4,492)
A29900	Reversal of provisions for liabilities	( 280)	( 344)
A30000	Net changes in operating assets and liabilities
A31130	Notes receivable	( 2,306)	528
A31150	Accounts receivable	( 4,536)	11,235
A31180	Other receivables	( 1,498)	( 1,050)
A31200	Inventories	( 68,503)	4,834
A31240	Other current assets	( 3,398)	219
A32125	Contract liabilities - current	( 1,672)	( 2,367)
A32130	Notes payable	10,804	( 1,879)
A32150	Accounts payable	55,872	25,256
A32180	Other payables	( 14,977)	( 23,806)
A32230	Other current liabilities	( 622)	( 2,078)
A32240	Net defined benefit plans	( 250)	( 258)
A33000	Cash generated from operations	17,452	62,861
A33100	Interest income	3,032	2,740
A33300	Interest paid	( 20)	( 3)
A33500	Income tax paid	( 3,990)	( 513)
AAAA	Net cash flows from operating activities	16,474	65,085
Cash Flows from Investing Activities
B00010	Acquisitions of financial assets measured at fair value through other comprehensive income	( 20,032)	-
B00040	Acquisitions of financial assets measured at amortized cost	( 36,011)	( 104,295)
B00050	Disposal of financial assets measured at amortized cost	-	44,450
B00200	Disposal of financial assets measured at fair value through profit or loss	10,500	-
B02700	Procurement of property, plant, and equipment	( 391)	( 2,492)
B04500	Procurement of intangible assets	( 94)	-
BBBB	Net cash flows used in investing activities	( 46,028)	( 62,337)
Cash Flows from Financing Activities
C03000	Guarantee deposits received		1
C04020	Repayment of the principal portion of lease liabilities	( 1,071)	( 1,196)
CCCC	Net cash flows used in financing activities	( 1,071)	( 1,195)
DDDD	Effect of exchange rate changes on cash and cash equivalents	561	1,774
EEEE	Net (decrease) increase in cash and cash equivalents	( 30,064)	3,327
E00100	Cash and cash equivalents at the beginning of the period	357,349	272,248
E00200	Cash and cash equivalents at the end of the period	$ 327,285	$ 275,575

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

^{}[] RUBY TECH CORPORATION AND SUBSIDIARIES
^{}[] NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
^{}[] For the three months ended March 31, 2026 and 2025

(Unless otherwise noted, amounts are in thousands of New Taiwan dollars)

Company History

Ruby Tech Corporation (hereinafter referred to as the “Company”) was established in Taipei in July 1981, and commenced operations in the same month, with its principal business being the research, manufacturing, and trading of optical fiber network equipment for central offices and customer premises, network management switches, and outdoor wireless networking equipment.

The company’s shares have been traded on the TPEx since September 8, 2009.

The consolidated financial statements are expressed in New Taiwan dollars, which is the functional currency of the Company.

Date and Procedures for Approving Financial Reports

The consolidated financial report was approved by the Board of Directors on May 8, 2026.

New Standards, Amendments and Interpretations Adoptions

(1) First-time adoption of the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), Interpretations (IFRIC), and Standing Interpretations Committee (SIC) (collectively, “IFRS Accounting Standards”) endorsed and issued into effect by the Financial Supervisory Commission (hereinafter referred to as “FSC”).

The initial application of the amendments to the IFRS Accounting Standards endorsed and issued into effect by the FSC did not have a material impact on the accounting policies of the merged company:

Amendments to IFRS 9 and IFRS 7: “Amendments to the Classification and Measurement of Financial Instruments”

Amendments to the application guidance on the classification of financial assets

The amendments primarily revise the classification criteria for financial assets, including:

(1) If a financial asset includes a contingent feature that alters the timing or amount of contractual cash flows, and the nature of this contingency is not directly linked to changes in basic lending risks and costs (e.g., whether the debtor meets a specific

carbon emission reduction target), such a financial asset can still be classified as solely payments of principal and interest (SPPI) on the principal amount outstanding, provided it meets the following two conditions:

All possible scenarios (both before and after the occurrence of the contingency) result in contractual cash flows that are solely payments of principal and interest on the principal amount outstanding; and
The contractual cash flows under all possible scenarios do not differ significantly from the cash flows of a financial instrument with the same contractual terms but without the contingent feature.

(2) Stipulates that financial assets with non-recourse rights refer to the business's ultimate right to collect cash flows, which is contractually limited to cash flows generated by specific assets.

(3) Clarifies that contract-linked instruments establish multiple layers of securities through a waterfall payment structure to establish the payment priorities of financial asset holders. This creates a concentration of credit risk and results in disproportionate distribution of cash shortfalls from the underlying pool across various levels of securities.

Amendments to the application guidance on the derecognition of financial liabilities

The amendments stipulate that financial liability shall be derecognized on the settlement date; however, when an entity uses an electronic payment system to settle a financial liability in cash, the liability may be derecognized before the settlement date if the following conditions are met:

The entity does not have the practical ability to withdraw, stop, or cancel the payment instruction;
The entity does not have the practical ability to access the cash that will be used for settlement due to the payment instruction; and
The settlement risk associated with the electronic payment system is not significant.

(2) The IFRS Accounting Standards issued by the IASB but not yet endorsed and issued into effect by the FSC:

New/Amendment/Amended Standards and Interpretations	Effective Date Issued by IASB (Note 1)
Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets between an Investor and its Associate or Joint Venture”	To be confirmed
IFRS 18 “Presentation and Disclosure in Financial Statements”	January 1, 2027 (Note 2)
IFRS 19 “Subsidiaries without Public Accountability: Disclosures” (including the 2025 amendments to IFRS 19)	January 1, 2027
Amendments to IAS 21 “Translation to a Hyperinflationary Presentation Currency”	January 1, 2027

Note 1: Unless otherwise stated, the newly issued/amended/revised standards or interpretations are effective for annual reporting periods beginning on or after the respective dates.

Note 2: On September 25, 2025, the FSC announced that IFRS 18 will take effect starting from January 1, 2028. Domestic entities could elect to apply IFRS 18 for an earlier period after the endorsement of IFRS 18 by the FSC.

Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets between an Investor and its Associate or Joint Venture”

If the merged company sells or contributes assets to an associate (or joint venture), or if the merged company loses control over a subsidiary but retains significant influence (or joint control) over that subsidiary, and if the aforementioned assets or former subsidiary meet the definition of a “business” under IFRS 3 “Business Combinations,” the merged company shall fully recognize the gains or losses arising from such transactions.

Furthermore, if the merged company sells or contributes assets to an associate (or a joint venture), or if the merged company loses control of a subsidiary in a transaction with an associate (or a joint venture) while retaining significant influence (or joint control) over the subsidiary, and if the aforementioned assets or the former subsidiary do not meet the definition of a “business” under IFRS 3, the merged company shall recognize the resulting gain or loss only to the extent of the unrelated investors’ interests in that associate (or joint venture), i.e., the portion of the gain or loss attributable to the interest of the merged company shall be eliminated.

IFRS 18 “Presentation and Disclosure in Financial Statements” and related consequential amendments

IFRS 18, “Presentation and Disclosure in Financial Statements,” replaces IAS 1, “Presentation of Financial Statements.” Here are the main points regarding the replacement of IAS 1:

The merged company is required to assess whether it has specified main business activities of investing in particular types of assets and providing financing to customers. Based on this assessment, items of income and expenses presented in the statement of profit or loss are classified into the operating, investing, financing, income tax, and discontinued operations categories.
The income statement should present totals and subtotals, including operating profit or loss, profit or loss before financing and income tax, and profit or loss.
Guidance for Aggregation and Disaggregation: The merged company should identify and classify assets, liabilities, equity, income, expenses, and cash flows based on shared characteristics. This ensures each line item in the primary financial statements shares at least one similar characteristic. Items with dissimilar characteristics should be disaggregated in both the primary financial statements and notes. The label "other" should only be used when no more informative label is available.
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Increased Disclosure of Management-Defined Performance Measures: The merged company communicates its management's view of an aspect of its overall financial performance, it should disclose this in a single note within the financial statements. This note should include a description of the measure, how it is calculated, a reconciliation to the most directly comparable IFRS-specified subtotal or total, and the effects of tax and non-controlling interests on the reconciling items.

In addition, the following consequential amendments have been made to IAS 7 “Statement of Cash Flows”:

The merged company shall use operating profit or loss as the starting point when presenting cash flows from operating activities under the indirect method.
Interest and dividends received by the merged company shall be classified as investing activities, while interest and dividends paid shall be classified as financing activities. However, if, after assessment, the merged company has a specific main operating activity, it shall determine how to classify dividends received, interest received and interest paid in the statement of cash flows by referring to how it classifies dividend income, interest income and interest expense in the statement of profit or loss. The total of each of these cash flows shall be classified in a single category in the statement of cash flows.

As of the approval date of the consolidated financial statements, the merged company is still in the process of evaluating the other impacts of each amendment to standards and interpretations on its financial position and financial performance. The relevant impacts will be disclosed upon completion of the assessment.

4. Summary of Significant Accounting Policies

(1) Statement of Compliance

The accompanying consolidated financial statements have been prepared in conformity with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and IAS 34, “Interim Financial Reporting” endorsed and issued into effect by the Financial Supervisory Commission. The consolidated financial statements do not present all the disclosures required for a complete set of annual consolidated financial statements prepared under the IFRS Accounting Standards endorsed and issued into effect by the Financial Supervisory Commission.

(2) Basis of Preparation

Except for financial instruments measured at fair value and net defined benefit liabilities recognized at the present value of defined benefit obligations less the fair value of plan assets, these consolidated financial statements have been prepared on the historical cost basis.

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The fair value measurements are grouped into Levels 1 to 3 based on the degree to which the fair value measurement inputs are observable and the significance of the inputs to the fair value measurement in its entirety:

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date.
Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).
Level 3 inputs are unobservable inputs for an asset or liability.

(3) The Criteria for Classification of Assets and Liabilities as Current or Non-Current

Current assets include:

Assets held primarily for trading purposes;
Assets expected to be realized within 12 months after the balance sheet date; and
Cash and cash equivalents (excluding those restricted for exchange or settlement of liabilities due after more than 12 months from the balance sheet date).

Current liabilities include:

Liabilities held primarily for trading purposes;
Liabilities due for settlement within 12 months after the balance sheet date; and
Liabilities for which the merged company does not have the substantial right at the balance sheet date to defer settlement for at least 12 months after the balance sheet date.

Assets or liabilities that are not classified as current assets or current liabilities are classified as non-current assets or non-current liabilities.

(4) Merger Basis

This consolidated financial statement includes the financial statements of the Company and entities controlled by the Company (subsidiaries). The financial statements of the subsidiaries have been adjusted to align their accounting policies with those of the merged company. In preparing the consolidated financial statements, all intra-group transactions, account balances, revenues, and expenses have been fully eliminated.

When the change in the ownership interest of a subsidiary does not result in a loss of control for the merged company, it is accounted for as an equity transaction. The carrying amounts of the merged company's equity and non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiary. Any difference between the

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amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the Company.

Details of subsidiaries, shareholding ratios, and business operations are provided in Note 12 and Appendix 2.

(5) Foreign Currency

In preparing the financial statements of each individual entity, transactions in currencies other than the entity's functional currency (i.e., foreign currencies) are recognized at the rates of exchange prevailing at the dates of the transactions.

At the end of each reporting period, foreign currency monetary items are translated at the closing rate of exchange. Exchange differences arising on the settlement of monetary items or on translating monetary items are recognized in profit or loss in the period in which they arise.

Non-monetary items measured at fair value in foreign currencies are translated using the exchange rates at the date when the fair value was determined. Exchange differences arising on the translation of such items are recognized in profit or loss for the period, except for exchange differences arising on the translation of items whose fair value changes are recognized in other comprehensive income, in which case such exchange differences are recognized in other comprehensive income.

At the cost of historical measurement, foreign currency non-monetary items are translated at the exchange rates prevailing on the transaction dates and are not restated.

When preparing consolidated financial statements, the assets and liabilities of the Company and its foreign operations are translated into New Taiwan Dollars at the exchange rates prevailing at the balance sheet date. Income and expense items are translated at the average exchange rates for the period, and the resulting exchange differences are recognized in other comprehensive income.

(6) Inventories

Inventories consist of merchandise, finished goods, work in progress, and raw materials. Inventories are measured at the lower of cost and net realizable value. The comparison between cost and net realizable value is conducted on an item-by-item basis, except for items within the same category of inventories. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and the estimated costs necessary to make the sale. The cost of inventories is calculated using the weighted-average method.

(7) Property, Plant and Equipment

Property, plant and equipment are initially recognized at cost and subsequently measured at cost less accumulated depreciation and accumulated impairment losses.

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Except for self-owned land, which is not depreciated, property, plant and equipment are depreciated separately over their useful lives on a straight-line basis for each significant portion. The merged company reviews the estimated useful life, residual value and depreciation method at least at the end of each year, and defers the impact of changes in applicable accounting estimates.

When property, plant and equipment are derecognized, the difference between the net disposal proceeds and the carrying amount of the assets is recognized in profit or loss for the current period.

(8) Intangible Assets

Acquired Separately

Intangible assets with finite useful lives acquired separately are initially measured at cost and subsequently measured at cost less accumulated amortization and accumulated impairment losses. Intangible assets are amortized on a straight-line basis over their estimated useful lives, and the merged company reviews the estimated useful lives, residual values, and amortization methods at the end of each year, and prospectively applies the effects of changes in accounting estimates. Intangible assets with indefinite useful lives are stated at cost less accumulated impairment losses.

Derecognition

When an intangible asset is derecognized, the difference between the net disposal proceeds and the carrying amount of the asset is recognized in profit or loss for the current period.

(9) Impairment of Property, Plant and Equipment, Right-Of-Use Assets and Intangible Assets

The merged company assesses at each balance sheet date whether there is any indication that property, plant and equipment, right-of-use assets, and intangible assets may be impaired. If any indication of impairment exists, the recoverable amount of the asset is estimated. If it is not possible to estimate the recoverable amount of an individual asset, the merged company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

For intangible assets with indefinite useful lives, impairment tests are conducted at least annually and whenever there is an indication of impairment.

The recoverable amount is the higher of fair value less costs to sell and its value in use. When the recoverable amount of an individual asset or cash-generating unit is less than its carrying amount, the carrying amount of that asset or cash-generating unit is reduced to its recoverable amount, and an impairment loss is recognized in profit or loss.

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When an impairment loss subsequently reverses, the carrying amount of the asset or cash-generating unit is increased to the revised estimate of its recoverable amount, but the increased carrying amount should not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset or cash-generating unit in prior years, net of amortization or depreciation. A reversal of an impairment loss is recognized in profit or loss.

(10) Financial Instruments

The financial assets and financial liabilities are recognized on the consolidated balance sheets when the merged company becomes a party to the contractual provisions of the instrument.

When originally recognizing financial assets and financial liabilities, if the financial assets or financial liabilities are not measured at fair value through profit or loss, they are measured at fair value plus directly attributable transaction costs incurred in acquiring or issuing the financial assets or financial liabilities. Transaction costs directly attributable to the acquisition or issuance of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss.

Financial Assets

The conventional trading of financial assets adopts trade date accounting for recognition and derecognition.

(1) Types of Measurement

The types of financial assets held by the merged company are financial assets measured at fair value through profit or loss, financial assets measured at amortized cost, and investments in equity instruments measured at fair value through other comprehensive income.

A. Financial Assets Measured at Fair Value Through Profit or Loss

Financial assets measured at fair value through profit or loss include financial assets mandatorily measured at fair value through profit or loss. Financial assets mandatorily measured at fair value through profit or loss include investments in equity instruments not designated as at fair value through other comprehensive income.

Financial assets measured at fair value through profit or loss are measured at fair value, with dividends and interest recognized as other income and interest income, respectively, while remeasurement gains or losses are recognized as other gains and losses. For the determination of fair value, please refer to Note 29.

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B. Financial Assets Measured at Amortized Cost

The following sentence is classified as financial assets measured at amortized cost if the merged company’s investments in financial assets meet the following two conditions simultaneously:

a. The financial assets are held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; and
b. The contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Financial assets measured at amortized cost (including cash and cash equivalents, current financial assets measured at amortized cost, notes receivable, accounts receivable and other receivables) are measured at amortized cost less any impairment loss after initial recognition, with any foreign exchange gain or loss recognized in profit or loss, using the effective interest method to determine the total carrying amount.

Except for the following two situations, interest income is calculated by applying the effective interest rate to the gross carrying amount of the financial asset:

a. For purchased or originated credit-impaired financial assets, interest income is calculated by applying the credit-adjusted effective interest rate to the amortized cost of the financial asset.
b. For financial assets that were not purchased or originated as credit-impaired, but subsequently became credit-impaired, interest income should be calculated by applying the effective interest rate to the amortized cost of the financial assets from the reporting period after the credit impairment occurred.

Cash equivalents include time deposits and securities sold under repurchase agreements that are highly liquid and can be converted into fixed amounts of cash at any time with minimal risk of value changes within three months from the date of acquisition, and are used to meet short-term cash commitments.

C. Equity Investments Measured at Fair Value Through Other Comprehensive Income

At the time of initial recognition, the merged company may make an irrevocable election to designate investments in equity instruments that are not held for trading and not contingent consideration recognized by an

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acquirer in a business combination as at fair value through other comprehensive income.

The investments in equity instruments measured at fair value through other comprehensive income are measured at fair value, with subsequent fair value changes presented in other comprehensive income and accumulated in other equity. Upon disposal of the investments, the accumulated gains or losses are directly transferred to retained earnings, not reclassified to profit or loss.

The dividend from investment in equity instruments measured at fair value through other comprehensive income is recognized in profit or loss when the merged company’s right to receive payment is established, unless the dividend clearly represents a recovery of part of the investment cost.

(2) Impairment of Financial Assets

The merged company assesses the impairment loss of financial assets measured at amortized cost (including accounts receivable) based on expected credit losses on each balance sheet date.

Accounts receivable is recognized with an allowance for expected credit losses over the remaining period. For other financial assets, an assessment is made at each reporting date as to whether the credit risk has increased significantly since initial recognition. If credit risk has not increased significantly, an allowance for 12-month expected credit losses is recognized.

The expected credit loss is a weighted average credit loss with the risk of default as the weight. The 12-month expected credit loss represents the expected credit loss arising from possible default events within 12 months after the reporting date of the financial instrument, while the lifetime expected credit loss represents the expected credit losses arising from all possible default events over the expected life of the financial instrument.

For internal credit risk management purposes, the merged company determines that the following situations represent a default of a financial asset without taking into account any collateral held:

A. There is internal or external information indicating that it is no longer probable that the debtor will be able to pay its credit obligations in full.

B. Over 180 days past due unless there is reasonable and supportable information to demonstrate that a more lagging default criterion is more appropriate.

With respect to impairment of financial assets, impairment losses on all financial assets are deducted through an allowance account from their carrying amounts, except for investments in equity instruments measured at fair value

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through other comprehensive income, for which the impairment loss is recognized in other comprehensive income and does not reduce the carrying amount.

(3) Derecognition of Financial Assets

The merged company derecognizes a financial asset only when the contractual rights to the cash flows from the financial asset expire or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another enterprise.

When a financial asset measured at amortized cost is derecognized in its entirety, the difference between the asset's carrying amount and the consideration received is recognized in profit or loss. Upon derecognition of an investment in an equity instrument measured at fair value through other comprehensive income in its entirety, the cumulative gain or loss is directly transferred to retained earnings without reclassification to profit or loss.

Financial Liabilities

(1) Subsequent Measurement

All financial liabilities are measured at amortized cost using the effective interest method.

(2) Derecognition of Financial Liabilities

Financial liabilities are derecognized on the settlement date, which is the date on which the contractual obligation is discharged, cancelled, or expires. Derecognition also occurs when an existing financial liability is exchanged for another debt instrument with substantially different terms or when the terms of an existing financial liability are substantially modified. The difference between the carrying amount of a financial liability derecognized and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss.

(11) Provisions for Liabilities

The amount recognized as a provision for liabilities is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. Provisions are measured at the present value of the estimated cash flows required to settle the obligation.

The obligation for product warranty to ensure that products comply with agreed-upon specifications is recognized as revenue for the related goods is recognized, based on management's best estimate of the expenditure required to settle the merged company's obligation.

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(12) Recognition of Revenue

After identifying the performance obligations in customer contracts, the merged company will allocate the transaction price to the various performance obligations and recognize revenue as each performance obligation is satisfied.

Sales of Goods Revenue

Revenue from the sale of goods is derived from the sale of optical fiber network equipment. Since after fulfilling the transaction terms for optical fiber network equipment products, customers have determined pricing and usage rights for the goods and bear the primary responsibility for resale, as well as the risk of obsolescence, the merged company recognizes revenue and accounts receivable at that point. Advance receipts from product sales are recognized as contract liabilities prior to satisfying the performance obligations under the transaction terms.

During toll processing, the control of ownership over the processed products does not transfer, so revenue is not recognized at the time of toll processing.

Provision of Services

The services revenue is derived from commodity inspection services revenue, which is recognized when the services are rendered.

(13) Leases

The merged company assesses whether a contract is or contains a lease on the date of establishment of the contract.

The Merged Company as the Lessor

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.

Under operating leases, lease payments, net of lease incentives received, are recognized as income on a straight-line basis over the respective lease terms.

The Merged Company as the Lessee

Except for low-value asset leases and short-term leases to which recognition exemptions apply, and for which lease payments are recognized as an expense on a straight-line basis over the lease term, right-of-use assets and lease liabilities are recognized for all other leases at the commencement date of the lease.

The right-of-use assets are initially measured at cost (including the initial measurement amount of the lease liabilities, lease payments made before the lease commencement date less any lease incentives received, initial direct costs, and estimated costs for restoring the underlying asset), and subsequently measured at

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cost less accumulated depreciation and accumulated impairment losses, with adjustments for any remeasurement of the lease liabilities. Right-of-use assets are presented separately in the consolidated balance sheets.

Right-of-use assets are depreciated on a straight-line basis from the commencement date of the lease to the earlier of the end of the useful life or the end of the lease term.

The lease liability is initially measured at the present value of the lease payments (including fixed payments). If the interest rate implicit in the lease is readily determinable, the lease payments are discounted using that rate. If that rate is not readily determinable, the lessee’s incremental borrowing rate is used.

Subsequently, the lease liabilities are measured at amortized cost using the effective interest method, and interest expenses are allocated over the lease term. The lease liability is presented separately on the consolidated balance sheets.

(14) Defined Benefit Retirement Benefits

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

For further details, refer to the summary of significant accounting policies in the 2025 consolidated financial statements.

(15) Share-Based Payment Arrangements

Employee stock option plans

Employee stock options are expensed over the vesting period on a straight-line basis, based on the fair value of the equity instruments at the grant date and the best estimate of the number of options expected to vest. A corresponding credit is made to capital surplus—employee stock options. If the options vest immediately on the grant date, the expense is recognized in full on that date.

For the merged company's employee stock options, the grant date is defined as the date on which the grant is approved by the Board of Directors.

The merged company revises its estimate of the number of options that are expected to vest at each balance sheet date. The impact of the revision to original estimates, if any, is recognized in profit or loss, so that the cumulative expense reflects the revised estimate, with a corresponding adjustment to capital surplus—employee stock options.

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^{}[] (16) Income Tax Expense

The income tax expense is the sum of current income tax and deferred income tax. Income tax for the interim period is assessed on an annual basis and calculated by applying to an interim period's pre-tax income the tax rate that would be applicable to expected total annual earnings.

For further details, refer to the summary of significant accounting policies in the 2025 consolidated financial statements.

Significant Accounting Assumptions and Judgments, and Major Sources of Estimation Uncertainty

In applying accounting policies, management of the merged company is required to make judgments, estimates and assumptions about matters that are inherently uncertain due to a lack of available information from other sources, based on historical experience and other relevant factors. Actual results may differ from these estimates.

When developing significant accounting estimates, the merged company considers the potential impact in estimating cash flow projections, growth rates, discount rates, profitability, and other related significant estimates. The management will continually review the estimates and basic assumptions. If the modification of estimates affects only the current period, it is recognized in the period of modification; if the modification of accounting estimates affects both the current period and future periods, it is recognized in the period of modification and future periods.

Significant Accounting Assumptions and Judgments, and Major Sources of Estimation Uncertainty

Impairment of Inventories

The net realizable value of inventories is estimated based on the estimated selling price in the ordinary course of business, less the estimated costs of completion and the estimated costs necessary to make the sale, which is estimated based on current market conditions and historical sales experience of similar products. Changes in market conditions may have a material impact on the estimation of the net realizable value.

Cash and Cash Equivalents

	March 31, 2026	December 31, 2025	March 31, 2025
Cash on hand and working capital	$ 384	$ 348	$ 344
Checks and demand deposits	25,868	36,954	21,210
Cash equivalents
Bank time deposits with an original maturity within 3 months	149,000	159,900	40,000
Securities sold under repurchase agreements	152,033	160,147	214,021
	$ 327,285	$ 357,349	$ 275,575

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The market interest rate ranges for bank deposits and securities sold under repurchase agreements on the balance sheet date are as follows:

	March 31, 2026	December 31, 2025	March 31, 2025
Cash in banks	0.005%~1.60%	0.005%~1.60%	0.005%~1.46%
Securities sold under repurchase agreements	1.43%~3.75%	1.42%~3.80%	1.42%~4.57%

7. Current Financial Assets Measured at Fair Value Through Profit or Loss

	March 31, 2026	December 31, 2025	March 31, 2025
Domestic investment
Domestic listed (OTC) and emerging shares	$ 7,304	$ 8,371	$ 5,629
Domestic unlisted shares	2,488	19,642	20,084
	$ 9,792	$ 28,013	$ 25,713

8. Current Financial Assets Measured at Fair Value Through Other Comprehensive Income

	March 31, 2026	December 31, 2025	March 31, 2025
Domestic investment
Domestic listed (OTC) and emerging shares	$ 53,539	$ 38,988	$ 36,215
Domestic unlisted shares	32,102	30,915	28,024
Subtotal	85,641	69,903	64,239
Overseas investment
Overseas unlisted shares	2,089	2,108	19,393
	$ 87,730	$ 72,011	$ 83,632

The merged company invests in accordance with its medium- and long-term strategic purposes and expects to make profits through long-term investment. The management of the merged company believes that recognizing short-term fluctuations in fair value of these investments in profit or loss would be inconsistent with the aforementioned long-term investment plans. Therefore, they choose to designate these investments as measured at fair value through other comprehensive income.

9. Current Financial Assets Measured at Amortized Cost

	March 31, 2026	December 31, 2025	March 31, 2025
Time deposits with original maturities over 3 months (1)	$ 408,802	$ 372,616	$ 386,569
Pledged time deposit certificates (2)	16,000	16,000	16,000
Securities sold under repurchase agreements with maturities over 3 months (3)	-	-	16,880
	$ 424,802	$ 388,616	$ 419,449

(1) As of March 31, 2026, December 31, 2025 and March 31, 2025, the range of interest rates on time deposits with original maturities over 3 months were 0.95% to 1.78%, 0.95% to 1.78% and 1.10% to 1.745 per annum, respectively.

(2) As of March 31, 2026, December 31, 2025 and March 31, 2025, the interest rate ranges for pledged time deposits were 1.285% to 1.69% per annum. For information on pledged financial assets measured at amortized cost, refer to Note 31.

(3) As of March 31, 2025, the range of interest rates for securities sold under repurchase agreements with maturities over 3 months was 1.45%.

Notes Receivable, Accounts Receivable and Other Receivables

	March 31, 2026	December 31, 2025	March 31, 2025
Notes receivable
Arising from operations	$ 2,306	$ -	$ -
Accounts receivable
Measured at amortized cost
Total carrying amount	$ 177,206	$ 170,331	$ 177,640
Less: Allowance for loss	( 125 )	( 2,117 )	( 2,039 )
	$ 177,081	$ 168,214	$ 175,601
Other receivables
Tax refund receivable - business tax	$ 7,105	$ 4,027	$ 4,784
Others	1,535	2,020	370
	8,640	6,047	5,154
Less: Allowance for loss	-	-	-
	$ 8,640	$ 6,047	$ 5,154

Notes and accounts receivable

The merged company's average credit period for sales of goods and finished products ranges from 30 to 60 days. The policy adopted by the merged company is to rate major customers using available financial information and historical transaction records.

To mitigate credit risk, the management of the merged company has assigned a dedicated unit responsible for determining credit limits, approving credit, and other monitoring procedures to ensure appropriate actions have been taken to recover overdue receivables. Additionally, the merged company reviews the recoverable amount of each receivable on the balance sheet date to ensure that appropriate impairment losses have been recognized for uncollectible receivables. When necessary, the merged company also purchases accounts receivable credit insurance to reduce the risk of financial losses arising from delinquencies. Consequently, the management of the merged company believes that its credit risk has been significantly reduced.

The merged company adopts the simplified approach under IFRS 9 to recognize the allowance for credit losses for accounts receivable based on expected credit losses over the duration. Expected credit losses over the duration are calculated using a provision matrix that considers the customer's past default records, current financial position, industry economic situation, and also takes into account GDP forecasts and industry prospects. As the merged company's credit loss experience shows no significant difference in the loss pattern across different customer groups, the provision matrix is not further differentiated by customer groups, but is determined by the expected credit loss rate solely based on the number of days accounts receivable are passed due.

If there is evidence that the counterparty is in severe financial difficulty and the merged company cannot reasonably expect to recover the amount, for example, if the counterparty is undergoing liquidation or the debt is overdue for more than 180 days, the merged company recognizes a $100\%$ allowance for credit losses. However, the merged company continues its pursuit for recovery, and any amount recovered is recognized in profit or loss.

Based on the provision matrix, the merged company measures the allowance for credit losses on notes and accounts receivable as follows:

March 31, 2026

	Not Overdue	1 to 30 Days Overdue	31 to 60 Days Overdue	61 to 90 Days Overdue	91 to 180 Days Overdue	Overdue for More Than 181 Days	Total
Expected credit losses	0.02%	0.11%	1.07%	2.96%	18.36%	100%
Total carrying amount	$156,516	$ 15,625	$ 7,371	$ -	$ -	$ -	$179,512
Allowance for losses (expected credit losses during the duration)	(30)	(17)	(78)	-	-	-	(125)
Amortized cost	$156,486	$ 15,608	$ 7,293	$ -	$ -	$ -	$179,387

December 31, 2025

	Not Overdue	1 to 30 Days Overdue	31 to 60 Days Overdue	61 to 90 Days Overdue	91 to 180 Days Overdue	Overdue for More Than 181 Days	Total
Expected credit losses	0.02%	0.11%	1.07%	2.96%	18.36%	100%
Total carrying amount	$123,343	$ 38,493	$ 6,478	$ -	$ 39	$ 1,978	$170,331
Allowance for losses (expected credit losses during the duration)	(25)	(41)	(66)	-	(7)	(1,978)	(2,117)
Amortized cost	$123,318	$ 38,452	$ 6,412	$ -	$ 32	$ -	$168,214

March 31, 2025

	Not Overdue	1 to 30 Days Overdue	31 to 60 Days Overdue	61 to 90 Days Overdue	91 to 180 Days Overdue	Overdue for More Than 181 Days	Total
Expected credit losses	0.02%	0.11%	1.09%	3.12%	20.17%	100%
Total carrying amount	$145,829	$ 29,645	$ 188	$ -	$ -	$ 1,978	$177,640
Allowance for losses (expected credit losses during the duration)	(29)	(32)	-	-	-	(1,978)	(2,039)
Amortized cost	$145,800	$ 29,613	$ 188	$ -	$ -	$ -	$175,601

The changes in the allowance for doubtful notes and accounts receivable are as follows:

	Three Months Ended March 31
	2026	2025
Balance at the beginning of the period	$ 2,117	$ 2,078
Add: Reversal of impairment losses in the current period	( 1,992 )	( 39 )
Balance at the end of the period	$ 125	$ 2,039

Compared to the beginning balance, the total carrying amount of notes and accounts receivable increased by $9,181 thousand and decreased by $8,464 thousand as of March 31, 2026 and 2025, respectively, and the allowance for losses decreased by $1,992 thousand and $39 thousand, respectively.

Other receivables

The other receivables of the merged company as of March 31, 2026, December 31, 2025 and March 31, 2025, were primarily tax refund receivable. Except for tax refund receivable, the remaining receivables were mainly within 90 days (based on the entry date).

The merged company measures the allowance for doubtful accounts for other receivables based on the probability of collection. After evaluating the probability of collection, it is unlikely that the accounts will be uncollectible, so no allowance for doubtful accounts is required.

11. Inventories

	March 31, 2026	December 31, 2025	March 31, 2025
Merchandise	$ 1,743	$ 2,335	$ 858
Finished goods	23,381	9,029	26,961
Work in progress	68,122	25,392	32,933
Raw materials	105,437	91,379	89,216
	$ 198,683	$ 128,135	$ 149,968

The nature of cost of goods sold is as follows:

	Three Months Ended March 31
	2026	2025
Cost of goods sold	$ 174,059	$ 154,138
(Reversal gain) loss for inventory depreciation and slow-moving inventories	( 2,045 )	10,728
	$ 172,014	$ 164,866

The net realizable value of inventories increased in the three months ended March 31, 2026 due to inventory destocking. The net realizable value of inventories decreased in the three months ended March 31, 2025 due to the recognition of inventory valuation losses resulting from an increase in the age of inventories.

12. Subsidiaries

Subsidiaries included in the consolidated financial statements

The entities that shall be included in the consolidated financial statements are as follows:

Name of Investor	Name of Subsidiaries	Business Nature	Percentage of Shareholding
Name of Investor	Name of Subsidiaries	Business Nature	March 31, 2026	December 31, 2025	March 31, 2025
Ruby Tech Corporation	GRAND IMPACT TECHNOLOGY LIMITED	Investment in related businesses	100%	100%	100%
GRAND IMPACT TECHNOLOGY LIMITED	Ruby Tech (Beijing) Co., Ltd.	Computer peripheral equipment trading business	100%	100%	100%

13. Property, Plant and Equipment

	Self-Owned Land	Buildings	Machinery and Equipment	Transportation Equipment	Office Equipment	Lease Improvements	Other Equipment	Total
Cost
Balance as of January 1, 2026	$185,892	$98,204	$38,286	$2,780	$15,146	$974	$37,177	$378,459
Addition	-	133	125	-	133	-	-	391
Net exchange differences	-	1,162	-	-	33	-	-	1,195
Balance as of March 31, 2026	$185,892	$99,499	$38,411	$2,780	$15,312	$974	$37,177	$380,045
Accumulated Depreciation
Balance as of January 1, 2026	$-	$46,513	$30,003	$1,788	$9,478	$974	$26,082	$114,838
Depreciation expense	-	1,025	707	116	324	-	607	2,779
Net exchange differences	-	568	-	-	30	-	-	598
Balance as of March 31, 2026	$-	$48,106	$30,710	$1,904	$9,832	$974	$26,689	$118,215
Net amount as of March 31, 2026	$185,892	$51,393	$7,701	$876	$5,480	$-	$10,488	$261,830
Net amount as of December 31, 2025 and January 1, 2026	$185,892	$51,691	$8,283	$992	$5,668	$-	$11,095	$263,621
Cost
Balance as of January 1, 2025	$185,892	$97,331	$36,766	$2,780	$15,239	$974	$37,062	$376,044
Addition	-	834	393	-	524	-	741	2,492
Net exchange differences	-	737	-	-	20	-	-	757
Balance as of March 31, 2025	$185,892	$98,902	$37,159	$2,780	$15,783	$974	$37,803	$379,293
Accumulated Depreciation
Balance as of January 1, 2025	$-	$42,422	$27,010	$1,325	$9,051	$974	$24,197	$104,979
Depreciation expense	-	1,014	784	115	291	-	628	2,832
Net exchange differences	-	342	-	-	19	-	-	361
Balance as of March 31, 2025	$-	$43,778	$27,794	$1,440	$9,361	$974	$24,825	$108,172
Net amount as of March 31, 2025	$185,892	$55,124	$9,365	$1,340	$6,422	$-	$12,978	$271,121

For the three months ended March 31, 2026 and 2025, as there were no indications of impairment, the merged company did not perform an impairment assessment.

The depreciation expenses are provided on a straight-line basis over the following estimated useful lives:

Buildings
- Plant main buildings: 21 - 50 years
- Electromechanical power equipment: 5 - 8 years
- Engineering systems: 3 - 5 years
- Parking lot: 18 years
- Machinery and equipment: 3 - 5 years
- Transportation equipment: 5 years
- Office equipment: 3 - 8 years
- Lease improvements: Over the shorter of the useful life or lease term
- Other equipment: 3 years

14. Lease Agreements

(1) Right-of-use assets

	March 31, 2026	December 31, 2025	March 31, 2025
Carrying amount of right-of-use asset
Buildings	$ 3,455	$ 4,254	$ 4,940
Transportation equipment	2,500	2,778	98
	$ 5,955	$ 7,032	$ 5,038

	Three Months Ended March 31
	2026	2025
Additions to right-of-use assets	$ -	$ 4,587
Depreciation expense of right-of-use assets
Buildings	$ 799	$ 1,104
Transportation equipment	278	84
	$ 1,077	$ 1,188

In addition to the increases and recognition of depreciation expenses as listed above, the merged company did not experience any significant subleases or impairment of its right-of-use assets for the three months ended March 31, 2026, and 2025, respectively.

(2) Lease liabilities

	March 31, 2026	December 31, 2025	March 31, 2025
Carrying amount of lease liabilities
Current	$ 4,121	$ 4,301	$ 2,926
Non-current	$ 1,857	$ 2,748	$ 2,114

The discount rate range for lease liabilities is as follows:

	March 31, 2026	December 31, 2025	March 31, 2025
Buildings	1.25%	1.25%	1.00% ~ 1.25%
Transportation equipment	1.25%	1.25%	0.75%

The merged company leased several buildings for use as factories, with a lease term of 2 years. At the end of the lease term, the merged company does not have the preferential right to purchase the leased buildings, and it is agreed that without the consent of the lessor, the merged company shall not sublease, transfer, assign or use the leased property in whole or in part by others in any other way.

The merged company also leases transportation equipment for use as official vehicles, with a lease term of 3 years.

(3) Other lease information

	Three Months Ended March 31
	2026	2025
Short-term lease expense	$ -	$ -
Low-value asset lease expense	$ 24	$ 24
Total cash outflow from leases	$ 1,115	$ 1,223

The merged company chose to apply the recognition exemption for short-term leases of buildings and low-value asset leases of certain office equipment, without recognizing the related right-of-use assets and lease liabilities for those leases.

Other Intangible Assets

	March 31, 2026	December 31, 2025	March 31, 2025
Computer software cost	$ 476	$ 591	$ 589
Golf club membership certificate	2,900	2,900	2,900
Patents	978	1,002	1,072
Trademarks	-	-	-
	$ 4,354	$ 4,493	$ 4,561

The merged company's golf club memberships are deemed as rights to use, and the management of the merged company believes that the merged company has the intention and ability to continuously extend the useful life, and thus it is an indefinite-lived intangible asset. Regardless of whether there are any impairment indications, an impairment test is performed annually. The entrance fees of $2,200 thousand for the golf club memberships are recorded as refundable deposits.

27 -

In addition to the recognition of amortization expenses as listed above, the merged company did not experience any significant additions, disposals, or impairments of its other intangible assets for the three months ended March 31, 2026, and 2025, respectively.

The amortization expenses are provided on a straight-line basis over the following estimated useful lives:

Trademarks 10 years

Patents 10 - 18.58 years

Computer software costs 1 - 4 years

Summarized amortization expenses by function:

	Three Months Ended March 31
	2026	2025
Operating costs	$ 56	$ 30
Marketing expenses	44	39
Administrative expenses	31	112
Research and development expenses	102	83
	$ 233	$ 264

16. Other Assets

	March 31, 2026	December 31, 2025	March 31, 2025
Current
Prepayments	$ 9,122	$ 6,068	$ 6,912
Provisional payments	28	195	119
Others	790	306	631
	$ 9,940	$ 6,569	$ 7,662
Non-current
Refundable deposits	$ 4,151	$ 4,148	$ 3,634
Overdue receivables	5,675	5,675	5,675
Less: Allowance for loss	( 5,675 )	( 5,675 )	( 5,675 )
	$ 4,151	$ 4,148	$ 3,634

Overdue receivables are collected by the merged company in accordance with legal procedures, and adequate allowances for losses are provided.

^{}[] - 29 -

17. Notes Payable and Accounts Payable

	March 31, 2026	December 31, 2025	March 31, 2025
Notes payable
Arising from operations	$ 72,040	$ 61,236	$ 47,022
Accounts payable
Arising from operations	$ 121,932	$ 64,820	$ 73,632

The average payment terms for accounts payable by the merged company range from 30 to 90 days. The merged company has established financial risk management policies to ensure that all payables are paid within the pre-agreed credit terms.

18. Other Liabilities

	March 31, 2026	December 31, 2025	March 31, 2025
Current
Other payables
Employees’ remuneration payable	$ 30,153	$ 26,057	$ 30,083
Salaries and bonus payable	16,379	38,997	16,173
Directors’ remuneration payable	5,053	4,090	4,895
Leave payment payable	4,389	4,305	4,388
Others	21,384	18,762	16,882
	$ 77,358	$ 92,211	$ 72,421
Other liabilities
Receivables under custody	$ 2,366	$ 2,465	$ 787
Others	532	1,031	524
	$ 2,898	$ 3,496	$ 1,311
Non-current
Guarantee deposits received	$ 215	$ 209	$ 213

19. Liability Provisions - Current

	March 31, 2026	December 31, 2025	March 31, 2025
Current
Warranty	$ 1,207	$ 1,487	$ 1,849

^{}[] - 30 -

	Balance at the beginning of the Period	Reversal for the Current Period	Balance at the end of the Period
Three months ended March 31, 2026
Product warranty provision	$ 1,487	( $ 280 )	$ 1,207
Three months ended March 31, 2025
Product warranty provision	2,193	( 344 )	1,849

The warranty liability reserve is the present value of the merged company’s management’s best estimate of future economic benefits outflows arising from warranty obligations, based on the terms of the sales contract. This estimate is based on historical warranty experience and adjusted for new materials, process changes, or other events affecting product quality.

20. Retirement Benefit Plans

(1) Defined contribution plans

The pension system applied by the Company under the “Labor Pension Act” is a defined contribution retirement plan administered by the government. The Company contributes 6% of employees’ monthly salaries to individual accounts at the Bureau of Labor Insurance. Employees of the merged company’s subsidiaries in China are members of a retirement benefit plan operated by the Chinese government. The subsidiaries are required to contribute a specified percentage of payroll costs to the retirement benefit plan to fund the plan. The merged company’s obligation for this government-operated retirement benefit plan is limited to contributing a specified amount.

(2) Defined benefit plans

The related retirement benefit expenses recognized for defined benefit plans for the three months ended March 31, 2026 and 2025, respectively, were calculated using the retirement benefit cost rates determined by actuarial valuations as of December 31, 2025 and 2024, respectively.

The amounts recognized in profit or loss for defined benefit plans are aggregated by function as follows:

	Three Months Ended March 31
	2026	2025
Operating costs	$ 11	$ 13
Marketing expenses	5	7
Administrative expenses	2	3
Research and development expenses	14	16
	$ 32	$ 39

^{}[] - 31 -

21. Equity

(1) Capital – common stock

	March 31, 2026	December 31, 2025	March 31, 2025
Authorized shares (in thousands)	100,000	100,000	70,000
Authorized capital	$ 1,000,000	$ 1,000,000	$ 700,000
Number of shares issued and fully paid (in thousands)	57,706	57,706	57,784
Issued capital	$ 577,058	$ 577,058	$ 577,838

The par value of each issued ordinary share is $10, with one voting right and the entitlement to receive dividends per share.

The registered share capital reserved for the issuance of employee share option certificates is 3,000 thousand shares.

Pursuant to the resolution adopted by the Board of Directors on May 5, 2025, the Company cancelled 78 thousand shares of treasury stock, with May 22, 2025 designated as the record date for the capital reduction. Upon completion of the capital reduction, the Company’s paid-in capital amounted to $577,058 thousand.

(2) Capital surplus

The capital surplus arising from paid-in capital in excess of par value of issuance of shares (including the issuance of ordinary shares or treasury share transactions, etc.) and the portion from donated assets may be used to offset deficits; or if the Company has no deficit, the capital surplus may be distributed as cash dividends or capitalized, provided that a certain ratio of paid-in capital shall be set aside as capital reserve each year.

The capital reserve arising from investments accounted for using the equity method, employee share options, and share warrants shall not be used for any purpose.

(3) Retained earnings and dividend policy

According to the Company’s Articles of Incorporation regarding the profit distribution policy, if there is profit after the annual final accounting, taxes shall be paid, accumulated losses shall be covered, and 10% shall be appropriated as legal reserve except when the accumulated legal reserve has reached the Company’s paid-in capital. After appropriating or reversing special reserve as required by laws or the competent authority, the Board of Directors shall propose a profit distribution proposal for the undistributed profits at the beginning of the period and submit it to the shareholders’ meeting for resolution. For the policy on the distribution of employees’ and directors’ remuneration as stipulated in the Articles of Incorporation, please refer to Note 24 (7) Employees’ and Directors’ Remuneration.

The Company is engaged in the high-tech industry and is currently in the growth stage of its corporate life cycle. In order to maintain a sound financial structure, meet capital expenditure requirements for sustainable development, and protect the interests of investors, the distribution of surplus is comprehensively determined by considering factors such as retained earnings, capital surplus, financial structure, and operating conditions. The Company's dividends are distributed in the form of share dividends and cash dividends, with the distribution ratio determined by the company's capital, financial structure, and future funding requirements for its plans. Cash dividends shall account for no less than 10%, but the distribution method and ratio may be adjusted by resolution of the general shareholders' meeting.

An appropriation of earnings to the legal reserve shall be made until the legal reserve equals the company's paid-in capital. The legal reserve may be used to offset deficits. When the company has no deficit, the portion of legal reserve exceeding 25% of paid-in capital may be distributed in cash or capitalized.

In accordance with Order No. 1090150022 issued by the Financial Supervisory Commission, Order No. 10901500221 issued by the Financial Supervisory Commission, and the "Q&A on the Appropriation and Reversal of Special Reserves after the Adoption of International Financial Reporting Standards (IFRS)," the Company has appropriated and reversed special reserves.

The Company's Board of Directors on March 11, 2026 and the Company convened the Annual General Shareholders' Meetings on June 10, 2025, respectively, at which the proposals for distribution of surplus earnings for the years ended December 31, 2025 and 2024 were approved as follows:

	2025	2024
Legal reserve	$ 15,720	$ 14,319
Special reserve	$ 14,286	$ 14,229
Cash dividends	$ 115,411	$ 126,953
Share dividends	$ 17,312	$ -
Cash dividends per share (NT$)	$ 2.0	$ 2.2
Share dividends per share (NT$)	$ 0.3	$ -

With respect to the distribution of surplus earnings for the year ended December 31, 2025, it is still subject to the resolution to be adopted at the Annual General Shareholders' Meeting scheduled for June 9, 2026.

(4) Other equity items

Exchange differences on translation of foreign operations

	Three Months Ended March 31
	2026	2025
Balance at the beginning of the period	($ 1,652)	($ 1,675)
Arising in the period
Exchange differences on translation of foreign operations	694	440
Other comprehensive income for the period	694	440
Balance at the end of the period	($ 958)	($ 1,235)

Unrealized gains (losses) on financial assets measured at fair value through other comprehensive income

	Three Months Ended March 31
	2026	2025
Balance at the beginning of the period	($ 26,863)	($ 12,554)
Arising in the period
Unrealized gains (losses) on equity instruments	( 3,227)	3,201
Other comprehensive income for the period	( 3,227)	3,201
Balance at the end of the period	($ 30,090)	($ 9,353)

Treasury Shares

(1) The reasons for share buyback and the changes in the number of shares are as follows (in thousands of shares):

Reasons for Buyback	Number of Shares at the Beginning of the Period	Increase for the Period	Decrease for the Period	Number of Shares at the End of the Period
Three months ended March 31, 2025
Transfer of shares to employees	78	-	-	78

(2) The Company's Board of Directors resolved on March 23, 2020 to repurchase 800 thousand shares from March 24, 2020 to May 22, 2020 at a price ranging from $25 to $32 per share, and if the market price fell below the lower limit of the originally determined price range, the repurchase would continue. By the end of the execution period, a total of 78 thousand shares had been repurchased at a total cost of $2,341 thousand. Pursuant to the resolution adopted by the Board of Directors on May 5, 2025, the Company cancelled 78 thousand shares that had not been transferred upon expiration, with May 22, 2025 designated as the record date for the capital reduction.

(3) The Securities and Exchange Act prescribes that the number of shares repurchased by a company shall not exceed 10% of the total number of issued shares, and the total amount of repurchased shares shall not exceed the sum of retained earnings, share premium, and realized capital surplus. As of the date of the Board's resolution, the Company is in compliance with the provisions of the Securities and Exchange Act.

(4) The Company's treasury shares, in accordance with securities trading laws and regulations, shall not be pledged, nor shall they entitle the Company to the distribution of dividends or voting rights.

23. Revenue

(1) Contract balances

	March 31, 2026	December 31, 2025	March 31, 2025	January 1, 2025
Notes and accounts receivable (Note 10)	$ 179,387	$ 168,214	$ 175,601	$ 184,026
Contract liabilities - current Sales of goods	$ 25,678	$ 27,350	$ 24,064	$ 26,431

(2) Unfinished customer contracts

The unfulfilled performance obligations of the merged company relate to customer contracts whose expected duration does not exceed one year.

24. Net Income from Continuing Operations

(1) Interest income

	Three Months Ended March 31
	2026	2025
Bank deposits and others	$ 3,041	$ 2,785

(2) Other income

	Three Months Ended March 31
	2026	2025
Miscellaneous income	$ 715	$ 610

(3) Other gains and losses

Three Months Ended March 31
	2026	2025
Gain (loss) on financial assets
Financial assets designated as fair value through profit or loss	($ 7,721)	$ 2,249
Net foreign exchange gains	2,773	3,725
Other losses	( 3 )	-
	($ 4,951)	$ 5,974

(4) Finance costs

Three Months Ended March 31
	2026	2025
Interest on lease liabilities	$ 20	$ 3

(5) Depreciation and amortization

Three Months Ended March 31
	2026	2025
Depreciation expenses summarized by function
Operating costs	$ 1,702	$ 2,066
Operating expenses	2,154	1,954
	$ 3,856	$ 4,020
Amortization expenses summarized by function
Operating costs	$ 56	$ 30
Operating expenses	177	234
	$ 233	$ 264

(6) Employee benefit expenses

Three Months Ended March 31
	2026	2025
Retirement benefits (Note 20)
Defined contribution plans	$ 1,386	$ 1,334
Defined benefit plans	32	39
	1,418	1,373
Share-based payments (Note 27)	3,072	-

^{}[] - 36 -

Three Months Ended March 31

	2026	2025
Other employee benefits
Salaries and wages	$ 39,526	$ 37,562
Labor and health insurance expenses	2,961	2,857
Other employee benefits	1,734	1,355
	44,221	41,774
Total employee benefit expenses	$ 48,711	$ 43,147
Summarized by function
Operating costs	$ 9,504	$ 8,648
Operating expenses	39,207	34,499
	$ 48,711	$ 43,147

(7) Employees’ and directors’ remuneration

In accordance with the Articles of Incorporation, the Company shall appropriate employees’ remuneration at the rate of 7% to 10% and directors’ remuneration at a maximum rate of 2% from the pre-tax net income of the current year before deduction of the remuneration for employees and directors. In accordance with the amendment to the Securities and Exchange Act in August 2024, the Company approved an amendment to its Articles of Incorporation at the 2025 shareholders’ meeting, stipulating that no less than 5% of the annual employees’ remuneration allocated for the year shall be distributed to grassroots employees.

The estimated remuneration of employees and directors for the three months ended March 31, 2026 and 2025, respectively, is as follows:

Estimated ratio

	Three Months Ended March 31
	2026	2025
Employees’ remuneration	10%	10%
Directors’ remuneration	2%	2%

Amount

	Three Months Ended March 31
	2026	2025
Employees’ remuneration	$ 4,816	$ 5,350
Directors’ remuneration	$ 963	$ 1,070

The remuneration of employees and directors for the years ended December 31, 2025 and 2024 was approved by the Board of Directors on March 11, 2026 and March 5, 2025, respectively, as follows:

Amount

	2025	2024
Employees’ remuneration	$ 20,451	$ 19,127
Directors’ remuneration	$ 4,090	$ 3,825

The consolidated financial statements for the year are subject to change after their issuance date, and any changes will be treated as changes in accounting estimates and adjustments will be made in the following year.

The remuneration of employees and directors for the year ended December 31, 2025 had not yet been paid as of May 8, 2026.

The actual amount of employees’ and directors’ remuneration distributed in the year ended December 31, 2024 is consistent with the recognized amount in the consolidated financial statements for the year ended December 31, 2024.

Information regarding employees’ and directors’ remuneration as resolved by the Company’s Board of Directors can be found on the Market Observation Post System (MOPS) of the Taiwan Stock Exchange.

(8) Gains (losses) on foreign currency exchange

	Three Months Ended March 31
	2026	2025
Total foreign exchange gains	$ 7,582	$ 9,667
Total foreign exchange losses	( 4,809 )	( 5,942 )
Net gains	$ 2,773	$ 3,725

Income Tax

(1) Income taxes recognized in profit or loss

The main components of income tax expense are as follows:

	Three Months Ended March 31
	2026	2025
Current income tax
Arising in the period	$ 9,201	$ 10,902
Deferred tax
Arising in the period	419	( 1,972 )
Income tax expense recognized in profit or loss	$ 9,620	$ 8,930

(2) Income tax recognized in other comprehensive income

	Three Months Ended March 31
	2026	2025
Deferred Tax
Arising in the period
Translation of foreign operations	($ 173)	($ 110)
Income tax recognized in other comprehensive income	($ 173)	($ 110)

(3) Income tax assessments status

The income tax returns of the Company’s profit-seeking enterprise through 2023 have been examined and assessed by the Tax Authorities. The discrepancies between the assessed amount and filed amount have been properly adjusted in the respective year.

Earnings per Share

Units: NT$ per share

	Three Months Ended March 31
	2026	2025
Basic earnings per share	$ 0.57	$ 0.66
Diluted earnings per share	$ 0.56	$ 0.66

The following presents profit and weighted average numbers of ordinary shares outstanding for calculation of earnings per share:

Net profit for the current period

	Three Months Ended March 31
	2026	2025
Net income used to calculate basic and diluted earnings per share	$ 32,761	$ 38,149

Number of shares

	Unit of shares: Thousands of shares
	Three Months Ended March 31
	2026	2025
The weighted average number of ordinary shares used to calculate basic earnings per share	57,706	57,706
Effect of potential dilutive ordinary shares:
Employee stock options	121	-
Employees’ remuneration	355	379
The weighted average number of ordinary shares used to calculate diluted earnings per share	58,182	58,085

If the merged company has the option to issue employees' remuneration in the form of shares or cash, when calculating diluted earnings per share, it is assumed that employees' remuneration will be paid in the form of shares, and the potential ordinary shares will be included in the weighted average number of outstanding shares when they have a dilutive effect to calculate the diluted earnings per share. Such dilutive effect of the potential shares should continue to be considered until approval of number of shares to be distributed to employees as remuneration in the following year.

27. Share-Based Payment Arrangements

Employee stock option plans

On November 5, 2025, the Company granted 2,500 thousand units of employee stock options. Each unit entitles the holder to subscribe to one common share. The options were granted to eligible employees of the Company. The options have a contractual term of 5 years and are exercisable in proportions starting from the second anniversary of the grant date. The exercise price of the options is the closing price of the Company's common shares on the grant date. The exercise price is subject to adjustment according to a specified formula in the event of changes to the Company's common shares. The aforementioned employee stock option plan was duly filed and became effective as per the Financial Supervisory Commission (FSC) Order No. 1140360771.

Information on employee stock options granted was as follows:

Employee stock option	Three Months Ended March 31, 2026
	Unit
Outstanding at the beginning and end of the period	2,500,000
Exercisable at the end of the period	-

The fair value of the employee stock options granted in November 2025 was determined using the Black-Scholes pricing model. The inputs used in the model are as follows:

	November 2025
Share price at grant date (NT$)	$ 43.65
Execution price (NT$)	$ 43.65
Expected volatility	33.76%~36.17%
Contractual term	3.5~4.5 years
Expected dividend rate	-
Risk-free interest rate	1.1722%~1.1947%

The merged company recognized compensation expense of $3,072 thousand for the three months ended March 31, 2026.

28. Capital Risk Management

The merged company undertakes capital management to ensure that all entities in the group can continue as a going concern while maximizing returns to shareholders through the optimal balance of debt and equity.

The capital structure of the merged company consists of its net debt and equity (i.e., share capital, capital surplus, retained earnings, and other equity items).

The merged company is not required to comply with other external capital requirements.

29. Financial Instruments

(1) Fair value information - financial instruments not measured at fair value

The merged company’s management believes that the carrying amounts of financial assets and financial liabilities not measured at fair value approximate their fair values or their fair values cannot be reliably measured.

(2) Fair value information - financial instruments measured at fair value on a recurring basis

Fair value measurement hierarchy

March 31, 2026

	Level 1	Level 2	Level 3	Total
Financial assets measured at fair value through profit or loss
Domestic listed (OTC) and emerging shares	$ 7,304	$ -	$ -	$ 7,304
Domestic unlisted shares	-	-	2,488	2,488
	$ 7,304	$ -	$ 2,488	$ 9,792
Financial assets measured at fair value through other comprehensive income
Equity instrument investment
Domestic listed (OTC) and emerging shares	$ 53,539	$ -	$ -	$ 53,539
Domestic unlisted shares	-	-	32,102	32,102
Overseas unlisted shares	-	-	2,089	2,089
	$ 53,539	$ -	$ 34,191	$ 87,730

December 31, 2025

	Level 1	Level 2	Level 3	Total
Financial assets measured at fair value through profit or loss
Domestic listed (OTC) and emerging shares	$ 8,371	$ -	$ -	$ 8,371
Domestic unlisted shares	-	-	19,642	19,642
	$ 8,371	$ -	$ 19,642	$ 28,013

^{}[] - 41 -

	Level 1	Level 2	Level 3	Total
Financial assets measured at fair value through other comprehensive income
Equity instrument investment
Domestic listed (OTC) and emerging shares	$ 38,988	$ -	$ -	$ 38,988
Domestic unlisted shares	-	-	30,915	30,915
Overseas unlisted shares	-	-	2,108	2,108
	$ 38,988	$ -	$ 33,023	$ 72,011
March 31, 2025
	Level 1	Level 2	Level 3	Total
Financial assets measured at fair value through profit or loss
Domestic listed (OTC) and emerging shares	$ 5,629	$ -	$ -	$ 5,629
Domestic unlisted shares	-	-	20,084	20,084
	$ 5,629	$ -	$ 20,084	$ 25,713
Financial assets measured at fair value through other comprehensive income
Equity instrument investment
Domestic listed (OTC) and emerging shares	$ 36,215	$ -	$ -	$ 36,215
Domestic unlisted shares	-	-	28,024	28,024
Overseas unlisted shares	-	-	19,393	19,393
	$ 36,215	$ -	$ 47,417	$ 83,632

There were no transfers between Level 1 and Level 3 fair value measurements in the three months ended March 31, 2026 and 2025.

Valuation techniques and inputs for Level 3 fair value measurements

Class of financial instruments	Valuation techniques and inputs
Domestic unlisted shares	The market approach using comparable companies listed on the Taiwan Stock Exchange or Over-the-Counter market is based on the transaction prices of comparable targets, taking into account the differences between the subject company and the comparable companies, and estimating the value of the subject company using appropriate valuation multiples.
Overseas unlisted shares	The asset-based approach evaluates the individual assets and liabilities of the subject company or business using valuation methodologies such as market value, replacement cost, or liquidation value in estimating the overall value of the company or business.

(3) Types of financial instruments

	March 31, 2026	December 31, 2025	March 31, 2025
Financial asset
Financial assets measured at fair value through profit or loss - designated as at fair value through profit or loss	$ 9,792	$ 28,013	$ 25,713
Financial assets measured at amortized cost (Note 1)	933,009	916,199	870,995
Financial assets measured at fair value through other comprehensive income - equity instrument investment	87,730	72,011	83,632
Financial liabilities
Measured at amortized cost (Note 2)	215,356	144,818	137,536

Note1: The balances include cash and cash equivalents, current financial assets measured at amortized cost, notes receivable, accounts receivable and a portion of other receivables that are financial assets measured at amortized cost.

Note2: The balances include notes payable, accounts payable and a portion of other payables that are financial liabilities measured at amortized cost.

(4) Financial risk management objectives and policies

The merged company’s main financial instruments include equity investments, accounts receivable, accounts payable, and lease liabilities. The merged company’s financial management department provides services to the business units, coordinates access to domestic and international financial markets, and supervises and manages the financial risks related to the merged company’s operations through analyzing internal risk reports covering exposures by degree and magnitude of risks. These risks include market risk (including foreign currency risk and interest rate risk), credit risk and liquidity risk.

The merged company has formulated “Procedures for Acquisition or Disposal of Assets” in accordance with the regulations of the competent authority, describing the control procedures for the acquisition, management, and disposal of various assets. If there is a risk assessment and the use of derivative financial instruments is adopted to hedge the exposure in order to mitigate the impact of such risks, the use of derivative financial instruments is governed by policies approved by the board of directors of the merged company, which are written principles for foreign exchange risk, interest rate risk, credit risk, the use of derivative and non-derivative financial instruments, and the investment of remaining liquidity. The internal auditors continuously review compliance with policies and exposure limits. The merged company did not engage in derivative financial instrument transactions in the three months ended March 31, 2026 and 2025.

^{}[] - 43 -

Market risk

The main financial risks undertaken by the merged company due to its operating activities are foreign exchange risk and interest rate risk:

(1) Foreign exchange risk

The merged company engages mainly in sales and purchases transactions denominated in U.S. dollars, which exposes the merged company to foreign exchange risk.

The carrying amounts of the merged company’s foreign currency denominated monetary assets and monetary liabilities (including those eliminated on consolidation) as at the balance sheet date are set out in Note 34.

Sensitivity analysis

The merged company is primarily exposed to fluctuations in the U.S. dollar exchange rate.

The following table provides a detailed sensitivity analysis of the merged company to a 1% appreciation or depreciation of the New Taiwan dollar (the functional currency) against relevant foreign currencies. The sensitivity analysis includes only outstanding foreign currency-denominated monetary items and foreign exchange forward contracts designated as cash flow hedges. These items are retranslated at the end of the year based on a 1% change in foreign exchange rates. A positive amount in the table below indicates a decrease in net income after tax resulting from a 1% appreciation of the New Taiwan dollar against the relevant foreign currency. Conversely, a 1% depreciation of the New Taiwan dollar would have an equal but opposite effect on net income after tax, and the corresponding amounts would be negative.

	Effect of U.S. Dollar Fluctuations on the Functional Currency (NT$)
	Three Months Ended March 31
	2026	2025
Profit (loss) (i)	($ 1,258 )	($ 1,812 )

(i): The profit or loss shown in the table was mainly attributable to the merged company’s exposure to outstanding US dollar-denominated receivables and payables that were not designated as cash flow hedges as of the balance sheet date.

(2) Risk of interest rate fluctuations

The merged company mainly uses its own funds to finance its operating activities, and its exposure to interest rate risk is minimal.

The merged company's exposures to market risk of financial instruments and the manner in which it manages and measures such exposures have not changed.

Credit risk

Credit risk refers to the risk of financial loss to the merged company caused by the counterparty's failure to fulfill contractual obligations. As of the balance sheet date, the maximum credit risk exposure that could cause financial loss to the merged company due to the counterparty's failure to perform its obligations is primarily derived from the carrying amount of financial assets recognized in the consolidated balance sheet.

The merged company does not have significant credit risk exposure to any single counterparty or any group of counterparties with similar characteristics. The concentration of credit risk from counterparties for the merged company did not exceed 10% of total monetary assets in the three months ended March 31, 2026 and 2025.

The credit risk of the merged company is mainly concentrated on its customers in the Americas and Europe. As of March 31, 2026, December 31, 2025 and March 31, 2025, respectively, European customers accounted for approximately 51.53% - 55.73% and 56.76% of total accounts receivable, while American customers accounted for approximately 38.34% - 37.62% and 29.02% of total accounts receivable as of March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

Liquidity risk

The merged company manages and maintains adequate cash and cash equivalents to support operations and mitigate the effects of fluctuations in cash flows. The merged company's working capital is sufficient to support operations, and therefore there is no liquidity risk due to the inability to raise funds to fulfill contractual obligations.

March 31, 2026

	1 - 3 Months	3 Months to 1 Year	1-3 Years
Non-derivative financial liabilities
Non-interest bearing liabilities	$ 210,382	$ 60,948	$ -
Lease liabilities	1,074	3,047	1,857
	$ 211,456	$ 63,995	$ 1,857

Further information on the maturity analysis of lease liabilities is as follows:

	Less Than 1 Year	1-3 Years
Lease liabilities	$ 4,170	$ 1,871

December 31, 2025

	1 - 3 Months	3 Months to 1 Year	1-3 Years
Non-derivative financial liabilities
Non-interest bearing liabilities	$ 176,794	$ 41,473	$ -
Lease liabilities	1,070	3,231	2,748
	$ 177,864	$ 44,704	$ 2,748

Further information on the maturity analysis of lease liabilities is as follows:

	Less Than 1 Year	1-3 Years
Lease liabilities	$ 4,363	$ 2,768

March 31, 2025

	1 - 3 Months	3 Months to 1 Year	1-3 Years
Non-derivative financial liabilities
Non-interest bearing liabilities	$ 143,377	$ 49,698	$ -
Lease liabilities	982	1,944	2,114
	$ 144,359	$ 51,642	$ 2,114

Further information on the maturity analysis of lease liabilities is as follows:

	Less Than 1 Year	1-3 Years
Lease liabilities	$ 2,968	$ 2,127

30. Related Party Transactions

The transactions, account balances, revenues, and expenses between the Company and its subsidiaries (entities related to the Company) are fully eliminated upon consolidation; therefore, they are not disclosed in these notes. In addition to those disclosed in other notes, transactions between the merged company and other related parties are as follows:

(1) Name of related parties and relationships

Name of related parties	Relationships with the Company
LUNG HWA ELECTRONICS CO., LTD.	Substantive related parties

(2) Operating revenue

Item	Related party categories	Three Months Ended March 31
Item	Related party categories	2026	2025
Sales revenue	Substantive related parties	$ -	$ 1,730
Other operating revenue	Substantive related parties	-	543
		$ -	$ 2,273

The sales prices and collection terms between the merged company and related parties are determined according to conditions agreed upon by both parties, with no significant difference from those with non-related parties.

(3) Remuneration of key management personnel

	Three Months Ended March 31
	2026	2025
Short-term employee benefits	$ 2,147	$ 2,117

The remuneration of directors and other key management personnel is determined by the Remuneration Committee based on individual performance and market trends.

31. Pledged Assets

The following assets of the merged company have been pledged as collateral for the customs duty-deferral arrangement:

	March 31, 2026	December 31, 2025	March 31, 2025
Pledged time deposits (accounted for as current financial assets measured at amortized cost)	$ 16,000	$ 16,000	$ 16,000

32. Other Matters: None.

33. Significant Subsequent Events: None.

34. Information on Foreign Currency Assets and Liabilities with Significant Impact

The following information is summarized in currencies other than the functional currencies of the merged company, with the disclosed exchange rates being the rates at which those currencies are translated into the functional currencies. Information on foreign currency assets and liabilities with significant influence:

Unit: Each Foreign Currency /NT$ thousand

March 31, 2026

	Foreign Currency	Exchange Rate	Carrying Amount
Financial Assets
Monetary items
US dollars	$ 7,983	32	$ 255,453
Financial Liabilities
Monetary items
US dollars	3,069	32	98,201

December 31, 2025

	Foreign Currency	Exchange Rate	Carrying Amount
Financial Assets
Monetary items
US dollars	$ 7,276	31.43	$ 228,691
Financial Liabilities
Monetary items
US dollars	1,579	31.43	49,633
March 31, 2025
	Foreign Currency	Exchange Rate	Carrying Amount
Financial Assets
Monetary items
US dollars	$ 8,616	33.20	$ 286,062
Financial Liabilities
Monetary items
US dollars	1,796	33.20	59,639

Foreign currency exchange gains (losses) for the merged company are as follows:

	Three Months Ended March 31
	2026	2025
Realized	$ 1,352	($ 779)
Unrealized	1,414	4,494
	$ 2,766	$ 3,715

35. Notes on Disclosures

(1) Major transaction matters and
(2) Information related to reinvested enterprises

Loans to others: None.
Provision of endorsements and guarantees to others: None.
Significant marketable securities held at the end of the period (excluding investments in subsidiaries, associates, and interest in joint ventures): Appendix 1.
Purchases or sales of goods from or to related parties reaching $100 million or 20% of paid-in capital or more: None.

Accounts receivable from related parties reaching $100 million or 20% of paid-in capital or more: None.
Others: Business relationships between the parent company and its subsidiaries and between each subsidiary, and the circumstances and amounts of any significant transactions between them: None.
Information on reinvested businesses: Appendix 2.

(3) Information on investments in China

The name of the invested company in China, its main business items, paid-in capital, investment methods, remittance of funds in and out, shareholding ratio, investment gains and losses, carrying amount of investments at the end of the period, repatriated investment gains and losses, and the investment limit in China: Appendix 3.
The significant transactions with investee companies in China, either directly or indirectly through a third area, their prices, payment terms, and unrealized gains or losses: None.

(1) The amount and percentage of purchases and the balance and percentage of the related payables at the end of the period.

(2) The amount and percentage of sales revenue and the balance and percentage of the related receivables at the end of the period.

(3) The amount of property transactions and the amount of the resultant gains or losses.

(4) The balance of negotiable instrument endorsements or guarantees or pledges of collateral at the end of the period and the purposes.

(5) The highest balance, the end of period balance, the interest rate range, and total current period interest with respect to financing of funds.

(6) Other transactions that have a material effect on the profit or loss for the period or on the financial position, such as the rendering or receiving of services.

Segment Information

Information provided to the chief operating decision maker for the purpose of resource allocation and assessment of department performance focuses on types of products and services delivered or provided. The reportable segments of the merged company are as follows:

Computer and its peripheral equipment: Department 1.

Computer and its peripheral equipment: Department 2.

48 -

(1) Department revenue and operating results

Three Months Ended March 31, 2026

	Department 1	Department 2	Total
Segment revenue	$ 269,678	$ -	$ 269,678
Adjustments and layoffs	-	-	-
Operating revenue	$ 269,678	$ -	$ 269,678
Net profit (loss) from operations	$ 44,074	($ 478)	$ 43,596
Other income	232	483	715
Other gains and losses	( 4,935)	-	( 4,935)
Finance costs	( 20)	-	( 20)
Interest income	3,030	11	3,041
Segment profit	42,381	16	42,397
Adjustments and layoffs	( 16)	-	( 16)
Net profit before tax	$ 42,365	$ 16	$ 42,381

Three Months Ended March 31, 2025

	Department 1	Department 2	Total
Segment revenue	$ 249,402	$ -	$ 249,402
Adjustments and layoffs	-	-	-
Operating revenue	$ 249,402	$ -	$ 249,402
Net profit (loss) from operations	$ 38,185	($ 472)	$ 37,713
Other income	133	477	610
Other gains and losses	5,995	-	5,995
Finance costs	( 3)	-	( 3)
Interest income	2,769	16	2,785
Segment profit	47,079	21	47,100
Adjustments and layoffs	( 21)	-	( 21)
Net profit before tax	$ 47,058	$ 21	$ 47,079

Interests of departments refer to the profits earned by each department.

(2) Total assets and liabilities of the segment

Assets of Segment

	March 31, 2026	December 31, 2025	March 31, 2025
Assets of Department 1	$ 1,533,541	$ 1,444,941	$ 1,440,389
Assets of Department 2	30,504	30,148	30,155
Adjustments and layoffs	( 29,727)	( 28,844)	( 29,388)
Total assets	$ 1,534,318	$ 1,446,245	$ 1,441,156

	Liabilities of Segment
	March 31, 2026	December 31, 2025	March 31, 2025
Liabilities of Department 1	$332,457	$277,157	$248,833
Liabilities of Department 2	798	1,325	788
Adjustments and layoffs	( 21)	( 21)	( 21)
Total liabilities	$333,234	$278,461	$249,600

All assets and liabilities are directly attributable to each department, and there are no shared assets or liabilities to be allocated.

50 -

RUBY TECH CORPORATION AND SUBSIDIARIES

SIGNIFICANT MARKETABLE SECURITIES HELD AT THE END OF THE PERIOD

March 31, 2026

Appendix 1

Unit: Unless otherwise stated, amounts are in NT$ thousand

Holding Company	Type and Name of Marketable Securities	The Relationship Between the Issuer of Marketable Securities and the Company	Accounts	End of Period				Remarks
Holding Company	Type and Name of Marketable Securities		Accounts	Number of Shares/Units	Carrying Amount	Shareholding Ratio	Fair Value (Note 2)	Remarks
Ruby Tech Corporation	Equity Securities
	Green Energy Technology Inc.	—	Current financial assets measured at fair value through profit or loss	212,000	$ -	0.05	$ -	Notes 2 and 4
	Powerchip Investment Holding Corporation	—	Current financial assets measured at fair value through profit or loss	91,707	2,488	0.01	2,488	Note 2
	DEXIN Corporation	—	Current financial assets measured at fair value through profit or loss	270,023	7,304	0.59	7,304	Notes 2 and 3
	Powerchip Investment Holding Corporation	—	Current financial assets measured at fair value through other comprehensive income	1,041,707	28,262	0.08	28,262	Note 2
	Vactronics Technologies Inc.	—	Current financial assets measured at fair value through other comprehensive income	260,825	10,198	0.37	10,198	Notes 2 and 3
	Tex-Ray Industrial Co., Ltd.	—	Current financial assets measured at fair value through other comprehensive income	500,000	3,515	0.21	3,515	Notes 2 and 3
	Zyxel Group Corporation	—	Current financial assets measured at fair value through other comprehensive income	380,000	12,426	0.09	12,426	Notes 2 and 3
	Getac Holdings Corporation	—	Current financial assets measured at fair value through other comprehensive income	160,000	15,600	0.03	15,600	Notes 2 and 3
	Winston Medical Supply Co., Ltd.	—	Current financial assets measured at fair value through other comprehensive income	163,000	11,800	0.89	11,800	Notes 2 and 3
	Videosoft Global Co., Ltd.	—	Current financial assets measured at fair value through other comprehensive income	500,000	3,840	4.50	3,840	Note 2
	Zentera Systems, Inc.	—	Current financial assets measured at fair value through other comprehensive income	176,470	2,089	0.72	2,089	Note 2

Note 1: The term "securities" as used in this statement refers to shares, bonds, beneficial interest certificates, and securities derived from the aforementioned items that fall within the scope of IFRS 9 "Financial Instruments".
Note 2: For those measured at fair value, the amounts are presented as the balances after fair value adjustments; for those not measured at fair value, the carrying amounts are presented as the amortized cost (net of allowance for losses).
Note 3: Calculated based on the closing prices as of the end of March 2026.
Note 4: Green Energy Technology Inc. has announced the termination of its listing, and the merged company has assessed that the investment has no fair value.

^{}[] RUBY TECH CORPORATION AND SUBSIDIARIES
^{}[] NAMES OF INVESTED COMPANIES, LOCATIONS, AND OTHER RELEVANT INFORMATION
^{}[] For the three months ended March 31, 2026

Appendix 2

Unit: Unless otherwise stated, amounts are in NT$ thousand

Name of Investor	Name of Investee	Place of Operation	Major Business Activity	Original Investment Amount		Held at the End of the Period			Gain (Loss) Income of the Invested Company for the Current Period	Investment (Gains) Losses Recognized for the Period (Note 1)	Remarks
Name of Investor	Name of Investee	Place of Operation	Major Business Activity	At the End of the Last Period	At the End of the Number of Shares	Number of Shares	Percentage (%)	Carrying Amount			Remarks
Ruby Tech Corporation	GRAND IMPACT TECHNOLOGY LIMITED	British Virgin Islands	Investment in related businesses	$ 58,581	$ 58,581	1,800,000	100	$ 29,706	$ 16	$ 16	Invested companies evaluated using the equity method
GRAND IMPACT TECHNOLOGY LIMITED	Ruby Tech (Beijing) Co., Ltd.	Beijing (China)	Computer peripheral equipment trading business	53,471	53,471	-	100	29,706	16	16	Invested companies evaluated using the equity method

Note 1: The share of profit or loss of subsidiaries accounted for using the equity method is calculated based on the reviewed financial statements.
Note 2: Please refer to Appendix 3 for information related to the invested companies in China.
Note 3: The related account amounts of the above transactions have been eliminated in the preparation of the consolidated financial statements.

52 -

RUBY TECH CORPORATION AND SUBSIDIARIES

INFORMATION ON INVESTMENT IN CHINA

For the three months ended March 31, 2026

Appendix 3

Unit: Unless otherwise stated, amounts are in NT$ thousand

Name of the Invested Company in China

Major Business Activity

Paid-In Capital

Method of Investments

Accumulated Investment Amount Remitted from Taiwan at the Beginning of the Period

Amount of Investments Exported or Recovered This Period

Accumulated Investment Amount Remitted from Taiwan at the end of the Period (Note 2)

Gain (Loss) Income of the Invested Company for the Current Period

The Direct or Indirect Investment Shareholding Ratio of the Company

Current Recognition Investment (Loss) Gain (Note 3)

Carrying Amount of Investment at the end of the Period (Note 3)

Cumulative Investment Income Repatriated up to the Current Period

Exported

Recovered

Ruby Tech (Beijing) Co., Ltd.

Computer peripheral equipment trading business

$ 53,471

(Note 1)

$ 53,471

$ -

$ 53,471

$ 16

100%

$ 16

$ 29,706

$ -

Accumulated Outward Remittances from Taiwan to China at the End of the Period (Note 2)	Investment Amount Approved by the Investment Commission of the Ministry of Economic Affairs (Note 2)	Limit of Investment in China in Accordance with the Regulations of the Investment Commission of the Ministry of Economic Affairs M.O.E.A. (Note 4)
$53,471 (USD1,650,000)	$53,471 (USD1,650,000)	$720,650

Note 1: Reinvested in China through Grand Impact Technology Limited.
Note 2: Investments denominated in foreign currencies were recorded using the exchange rates prevailing at the time of the transactions.
Note 3: Recognized based on the financial statements reviewed by the certified public accountants of the parent company in Taiwan.
Note 4: The investment limit is the higher of 60% of net worth or $80 million.
Note 5: The related account amounts of the above transactions have been eliminated in the preparation of the consolidated financial statements.

AI assistant

Ruby Tech Corporation — Interim / Quarterly Report 2026

72751_rns_2026-07-15_dfe3d782-b863-4ead-b92a-a5eaedc8773a.pdf

RUBY TECH CORPORATION AND SUBSIDIARIES

INDEPENDENT AUDITORS' REVIEW REPORT

Introduction

Scope of Review

Conclusion

RUBY TECH CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

RUBY TECH CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

RUBY TECH CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

4. Summary of Significant Accounting Policies

(1) Statement of Compliance

(2) Basis of Preparation

7. Current Financial Assets Measured at Fair Value Through Profit or Loss

8. Current Financial Assets Measured at Fair Value Through Other Comprehensive Income

9. Current Financial Assets Measured at Amortized Cost

Other receivables

11. Inventories

12. Subsidiaries

13. Property, Plant and Equipment

14. Lease Agreements

(1) Right-of-use assets

(2) Lease liabilities

16. Other Assets

17. Notes Payable and Accounts Payable

18. Other Liabilities

19. Liability Provisions - Current

20. Retirement Benefit Plans

(1) Defined contribution plans

(2) Defined benefit plans

21. Equity

23. Revenue

(1) Contract balances

(2) Unfinished customer contracts

24. Net Income from Continuing Operations

(1) Interest income

(2) Other income

27. Share-Based Payment Arrangements

28. Capital Risk Management

29. Financial Instruments

30. Related Party Transactions

31. Pledged Assets

32. Other Matters: None.

33. Significant Subsequent Events: None.

34. Information on Foreign Currency Assets and Liabilities with Significant Impact

35. Notes on Disclosures

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Ruby Tech Corporation Interim / Quarterly Report 2026