2025 - Q3 Earnings Release

ADVANTECH CO., LTD. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REVIEW REPORT

THEREON

SEPTEMBER 30, 2025 AND 2024

(Stock code: 2395)

For the convenience of readers and for information purpose only, the independent 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 independent auditors' review report and financial statements shall prevail.

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INDEPENDENT AUDITORS' REVIEW REPORT

To the Board of Directors and Shareholders of Advantech Co., Ltd.

We have reviewed the accompanying consolidated balance sheets of Advantech Co., Ltd. and subsidiaries (the "Group") as of September 30, 2025 and 2024, and the related consolidated statements of comprehensive income for the three-month and nine-month periods then ended, as well as the consolidated statements of changes in equity and of cash flows for the nine-month periods then ended, and notes to the consolidated financial statements, including a summary of material accounting policies. Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, "Interim Financial Reporting" that came into effect as endorsed by the Financial Supervisory Commission. Our responsibility is to express a conclusion on these consolidated financial statements based on our reviews.

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

As explained in Notes 4(3) and 6(7), the financial statements of insignificant consolidated subsidiaries and certain investments accounted for under equity method were not reviewed by independent auditors. Those statements reflect total assets amounting to NT$16,122,214 thousand and NT$13,898,701 thousand (including the balance of investments accounted for under equity method), constituting 23% and 21% of consolidated total assets as of September 30, 2025 and 2024, respectively, total liabilities amounting to NT$2,094,657 thousand and NT$1,221,055 thousand, constituting 11% and 7% of

consolidated total liabilities as of September 30, 2025 and 2024, respectively, and total comprehensive income (loss) amounting to NT$147,571 thousand, NT$371,158 thousand, (NT$293,202) thousand and NT$538,315 thousand, constituting 4%, 15%, (4%) and 8% of consolidated total comprehensive income for the three-month and nine-month periods then ended, respectively.

Based on our reviews, except for the adjustments to the consolidated financial statements, if any, as might have been determined to be necessary had the financial statements of insignificant consolidated subsidiaries and certain investments accounted for under the equity method been reviewed by independent auditors as described in the Basis for qualified conclusion section above, nothing has come to our attention that causes us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of the Group as of September 30, 2025 and 2024, and of its consolidated financial performance for the three-month and nine-month periods then ended and its consolidated cash flows for the nine-month periods then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, "Interim Financial Reporting" that came into effect as endorsed by the Financial Supervisory Commission.

Liang, Hua-Ling Tsai, Pei-Hua

For and on behalf of PricewaterhouseCoopers, Taiwan October 30, 2025

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

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

ADVANTECH CO., LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS

SEPTEMBER 30, 2025, DECEMBER 31, 2024 AND SEPTEMBER 30, 2024

(Expressed in thousands of New Taiwan dollars)

ADVANTECH CO., LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS

SEPTEMBER 30, 2025, DECEMBER 31, 2024 AND SEPTEMBER 30, 2024

(Expressed in thousands of New Taiwan dollars)

September 30, 2025 December 31, 2024 September 30, 2024

Liabilities and Equity Notes AMOUNT % AMOUNT % AMOUNT %

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

ADVANTECH CO., LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

FOR THE NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2025 AND 2024

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

For the three-month periods ended September 30 For the nine-month periods ended September 30

(

(

(

(

(

(

(

(Continued)

ADVANTECH CO., LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

FOR THE NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2025 AND 2024

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

For the three-month periods ended September 30 For the nine-month periods ended September 30

2025 2024 2025 2024

Items Notes AMOUNT % AMOUNT % AMOUNT % AMOUNT %

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

ADVANTECH CO., LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

FOR THE NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

Equity attributable to owners of the parent

Capital Retained Earnings Other Equity Interest

Notes Common stock

Advance receipts

for share capital Capital surplus Legal reserve

Unappropriated retained earnings

Financial statements translation

differences of foreign operations

Unrealised gains (losses) from financial assets measured at fair value through other comprehensive income

Unearned employee benefits

compensation Total

Non-controlling

interest Total equity

For the nine-month period ended September 30, 2024

Balance at January 1, 2024 $ 8,577,795 $ 6,699 $ 9,753,806 $ 9,630,127 $ 19,599,420 ( $ 827,011) $ 1,720,685 ( $ 369) $ 48,461,152 $ 348,426 $ 48,809,578

Consolidated profit (loss) for the period - - - - 6,364,084 - - - 6,364,084 ( 36,174) 6,327,910 Other comprehensive income (loss) for the period 6(19)(20) - - - - ( 78) 614,378 18,659 - 632,959 ( 6,196) 626,763 Total comprehensive income (loss) - - - - 6,364,006 614,378 18,659 - 6,997,043 ( 42,370) 6,954,673 Appropriations of 2023 earnings 6(18)

Legal reserve - - - 1,092,920 ( 1,092,920) - - - - - -

Cash dividends - - - - ( 8,155,269) - - - ( 8,155,269) - ( 8,155,269)

Cash dividends distributed by subsidiaries 6(20) - - - - - - - - - ( 3,110) ( 3,110) Recognition of employee share options 6(15)(16) 53,885 ( 4,057) 697,285 - - - - - 747,113 - 747,113 Compensation costs recognised for employee share 6(15)

options

Changes in associates and joint ventures accounted 6(19) for under equity method

- - 382,977 - - - - - 382,977 - 382,977

- - 82,023 - ( 24,644) - - 369 57,748 - 57,748

Difference between consideration and carrying amount of subsidiaries acquired or disposed

6(20)(28)

- - - - ( 1,223) - - - ( 1,223) 32,318 31,095

Changes in non-controlling interest 6(20) - - - - - - - - - ( 250,378) ( 250,378) Changes in ownership interests in subsidiaries 6(20)(28) - - 12,272 - ( 517) - - - 11,755 38,295 50,050

Disposal of investments in equity instruments measured at fair value through other comprehensive income

Disposal of investments in equity instruments measured at fair value through other comprehensive income owned by associates

6(3)(19)

6(19)

- - - - 86,635 - ( 86,635) - - - -

- - - - 797 - ( 797) - - - -

Balance at September 30, 2024 $ 8,631,680 $ 2,642 $ 10,928,363 $ 10,723,047 $ 16,776,285 ( $ 212,633) $ 1,651,912 $ - $ 48,501,296 $ 123,181 $ 48,624,477

For the nine-month period ended September 30, 2025

Balance at January 1, 2025 $ 8,634,322 $ 1,572 $ 11,156,003 $ 10,723,047 $ 19,402,613 ( $ 145,169) $ 1,655,964 $ - $ 51,428,352 $ 368,510 $ 51,796,862

Consolidated profit (loss) for the period - - - - 7,489,066 - - - 7,489,066 ( 82,203) 7,406,863 Other comprehensive income (loss) for the period 6(19)(20) - - - - - ( 952,808) 335,428 - ( 617,380) 6,855 ( 610,525) Total comprehensive income (loss) - - - - 7,489,066 ( 952,808) 335,428 - 6,871,686 ( 75,348) 6,796,338 Appropriations of 2024 earnings 6(18)

Legal reserve - - - 905,138 ( 905,138) - - - - - -

Cash dividends - - - - ( 7,254,151) - - - ( 7,254,151) - ( 7,254,151)

Cash dividends distributed by subsidiaries 6(20) - - - - - - - - - ( 4,440) ( 4,440) Recognition of employee share options 6(15)(16) 9,422 6,581 250,143 - - - - - 266,146 - 266,146 Compensation costs recognised for employee share 6(15)

options

Changes in associates and joint ventures accounted 6(19) for under equity method

- - 367,406 - - - - - 367,406 - 367,406

- - 80,340 - ( 12,394) - - ( 21,656) 46,290 - 46,290

Difference between consideration and carrying amount of subsidiaries acquired or disposed

6(20)(28)

- - ( 31,556) - ( 342,395) - - - ( 373,951) ( 193,735) ( 567,686)

Changes in non-controlling interest 6(20) - - - - - - - - - 50,283 50,283 Changes in ownership interests in subsidiaries 6(20) - - 14 - - - - - 14 10 24

Disposal of investments in equity instruments measured at fair value through other comprehensive income

Disposal of investments in equity instruments measured at fair value through other comprehensive income owned by associates

6(3)(19)

6(19)

- - - - 7,830 - ( 7,830) - - - -

- - - - 19,706 - ( 19,706) - - - -

Balance at September 30, 2025 $ 8,643,744 $ 8,153 $ 11,822,350 $ 11,628,185 $ 18,405,137 ( $ 1,097,977) $ 1,963,856 ( $ 21,656) $ 51,351,792 $ 145,280 $ 51,497,072

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

ADVANTECH CO., LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

For the nine-month periods ended

September 30

Notes 2025 2024

Changes in assets and liabilities relating to operating activities

Changes in assets relating to operating activities

(Continued)

ADVANTECH CO., LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

For the nine-month periods ended

September 30

Notes 2025 2024

CASH FLOWS FROM INVESTING ACTIVITIES

Acquisition of financial assets at amortised cost

Proceeds from disposal of financial assets at amortised cost - current

Acquisition of financial assets at amortised cost - non-current

Acquisition of financial assets at fair value through profit or loss

Cash returned from capital reduction of financial assets

678,484 )

1,454,885

-389,968 )

at fair value through profit or loss 84,880 -

Acquisition of financial assets at fair value through other

comprehensive income ( 114,867 ) -

Cash returned from capital reduction of financial assets

at fair value through other comprehensive income 15,038 22,660

Proceeds from disposal of financial assets at fair value

through other comprehensive income 7,830 203,781

Acquisition of investments accounted for under equity 6(7)

Proceeds from disposal of investment accounted for

CASH FLOWS FROM FINANCING ACTIVITIES

Decrease in short-term borrowings 6(30) - ( 1,611 )

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

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ADVANTECH CO., LTD. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2025 AND 2024

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

1. HISTORY AND ORGANIZATION

   1. Advantech Co., Ltd. (the "Company") was incorporated in September 1981, and its operational headquarters is located in the Neihu Science Park of Taipei, Taiwan. The Company is primarily engaged in the research and development, design, manufacturing and marketing of embedded computing boards, industrial automation products, applied computers and industrial computers.

   2. The Company's shares have been listed and traded on the Taiwan Stock Exchange since December 1999.

   3. The Company is a global leader in the IoT intelligent system and embedded platform industry, and takes the 'smart driver of sustainable earth' as its corporate brand vision. In accordance with the customers' needs, the Company is divided into three major business groups: the Industrial IoT Group, the Embedded IoT Group and the Service IoT Group. To meet the broad trends of the Internet of Things, Big Data, and artificial intelligence, the Company proposes IoT software and hardware solutions plan centered on the industrial IoT cloud platform to assist partners and customers connect the industrial chain.

2. THE DATE OF AUTHORISATION FOR ISSUANCE OF THE FINANCIAL STATEMENTS AND PROCEDURES FOR AUTHORISATION

   These consolidated financial statements were authorised for issuance by the Board of Directors on October 30, 2025.

3. APPLICATION OF NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS

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

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

      Effective date by International Accounting

      New Standards, Interpretations and Amendments Standards Board Amendments to IAS 21, 'Lack of exchangeability' January 1, 2025

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

   2. Effect of new issuances of or amendments to IFRS Accounting Standards as endorsed by the FSC but not yet adopted by the Group

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

      Effective date by International Accounting

      New Standards, Interpretations and Amendments Standards Board

      Specific provisions of Amendments to IFRS 9 and IFRS 7, 'Amendments to the classification and measurement of financial instruments' Amendments to IFRS 9 and IFRS 7, 'Contracts referencing nature-dependent electricity'

      January 1, 2026

      January 1, 2026

      IFRS 17, 'Insurance contracts' January 1, 2023

      Amendments to IFRS 17, 'Insurance contracts' January 1, 2023

      Amendment to IFRS 17, 'Initial application of IFRS 17 and IFRS 9 -

      comparative information'

      January 1, 2023

      Annual Improvements to IFRS Accounting Standards-Volume 11 January 1, 2026

      Except for the following, the above standards and interpretations have no significant impact to the Group's financial condition and financial performance based on the Group's assessment. The quantitative impact will be disclosed when the assessment is complete.

      Specific provisions of Amendments to IFRS 9 and IFRS 7, 'Amendments to the classification and measurement of financial instruments'

      The amendments require an entity to:

      1. Clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest (SPPI) criterion, covering contractual terms that can change cash flows based on contingent events (for example, interest rates linked to ESG targets), nonrecourse features and contractually-linked instruments.

      2. Add new disclosures for certain instruments with contractual terms that can change cash flows (such as some instruments with features linked to the achievement of environment, social and governance (ESG) targets), including a qualitative description of the nature of the contingent event, quantitative information about the possible changes to contractual cash flows that could result from those contractual terms and the gross carrying amount of financial assets and amortised cost of financial liabilities subject to these contractual terms.

      3. Clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception relating to the derecognition of a financial liability (or part of a financial liability) settled through an electronic cash transfer system. Applying the exception, an entity is permitted to derecognise a financial liability at an earlier date if, and only if, the entity has initiated a payment instruction and specific conditions are met.

         The conditions for the exception are that the entity making the payment does not have:

         1. the practical ability to withdraw, stop or cancel the payment instruction;

         2. the practical ability to access the cash used for settlement; and

         3. significant settlement risk.

      4. Update the disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI). The entity shall disclose the fair value of each class of investment and is no longer required to disclose the fair value of each investment. In addition, the amendments require the entity to disclose the fair value gain or loss presented in other comprehensive income during the period, showing separately the fair value gain or loss related to investments derecognised during the reporting period and the fair value gain or loss related to investments held at the end of the reporting period; and any transfers of the cumulative gain or loss within equity during the reporting period related to the investments derecognised during that reporting period.

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

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

      Effective date by International Accounting

      New Standards, Interpretations and Amendments Standards Board

      Amendments to IFRS 10 and IAS 28, 'Sale or contribution of assets between an investor and its associate or joint venture'

      To be determined by International Accounting Standards Board

      IFRS 18, 'Presentation and disclosure in financial statements' January 1, 2027 (Note)

      IFRS 19, 'Subsidiaries without public accountability: disclosures' January 1, 2027

      Note: The FSC has announced in a press release on September 25, 2025 that public companies will apply IFRS 18 starting from the fiscal year 2028. Additionally, entities can choose to adopt IFRS 18 earlier based on their requirements after the FSC endorses IFRS 18.

      Except for the following, the above standards and interpretations have no significant impact to the Group's financial condition and financial performance based on the Group's assessment. The quantitative impact will be disclosed when the assessment is complete.

      IFRS 18, 'Presentation and disclosure in financial statements'

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

4. SUMMARY OF MATERIAL ACCOUNTING POLICIES

   The principal accounting policies adopted are consistent with Note 4 in the consolidated financial statements for the year ended December 31, 2024, except for the compliance statement, basis of preparation, basis of consolidation and additional policies as set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

   1. Compliance statement

      1. The consolidated financial statements of the Group have been prepared in accordance with the "Regulations Governing the Preparation of Financial Reports by Securities Issuers" and the International Accounting Standard 34, 'Interim financial reporting' that came into effect as endorsed by the FSC.

      2. These consolidated financial statements are to be read in conjunction with the consolidated financial statements for the year ended December 31, 2024.

   2. Basis of preparation

      1. Except for the following items, the consolidated financial statements have been prepared under the historical cost convention:

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

         2. Financial assets at fair value through other comprehensive income.

         3. Defined benefit liabilities recognised based on the net amount of pension fund assets less present value of defined benefit obligation.

      2. The preparation of financial statements in conformity with International Financial Reporting Standards, International Accounting Standards, IFRIC®Interpretations, and SIC®Interpretations that came into effect as endorsed by the FSC ("IFRSs") requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 5.

   3. Basis of consolidation

      1. Basis for preparation of consolidated financial statements:

         The basis for preparation of consolidated financial statements is consistent with the basis used in the 2024 consolidated financial statements.

      2. Subsidiaries included in the consolidated financial statements:

         Ownership (%)

         Name of

         Name of

         September

         December

         September

         investor subsidiary Business activities 30, 2025 31, 2024 30, 2024 Description

         The Company	Advantech Automation Corporation Limited (AAC MT) (Formerly Advantech Automation Corporation [AAC (BVI)])	Overseas investment in manufacturing and services industries	100.00	100.00	100.00	Note 10
         	Advantech Technology Co., Ltd. (ATC)	Overseas investment in manufacturing and services industries	100.00	100.00	100.00
         	Advanixs Corporation (Advanixs)	Manufacturing, marketing and trade of industrial use computers	100.00	100.00	100.00	Note 2
         	Advantech Corporate Investment (ACI)	Investment in marketable securities	100.00	100.00	100.00
         	Advantech Europe Holding B.V. (AEUH)	Overseas investment in manufacturing and services industries	100.00	100.00	100.00
         	Advantech Co., Singapore Pte, Ltd. (ASG)	Marketing and trade of industrial use computers	100.00	100.00	100.00	Note 2
         	Advantech Australia Pty Ltd. (AAU)	Marketing and trade of industrial use computers	100.00	100.00	100.00	Note 2
         	Advantech Japan Co., Ltd. (AJP)	Marketing and trade of industrial use computers	100.00	100.00	100.00	Note 2
         	Advantech Co., Malaysia Sdn. Bhd (AMY)	Marketing and trade of industrial use computers	100.00	100.00	100.00	Note 2
         	Advantech KR Co., Ltd. (AKR)	Marketing and trade of industrial use computers	100.00	100.00	100.00	Note 2
         	Advantech Brasil Ltd. (ABR)	Marketing and trade of industrial use computers	100.00	100.00	100.00	Note 2

         Ownership (%)

         Name of

         Name of

         September

         December

         September

         investor subsidiary Business activities 30, 2025 31, 2024 30, 2024 Description

         The Company	Advantech Industrial Computing India Private Limited (AIN)	Marketing and trade of industrial use computers	99.99	99.99	99.99	Note 2
         	LNC Technology Co., Ltd. (LNC)	Manufacturing and trade of controllers	40.55	40.55	44.60	Notes 2 and 3
         	Advantech Electronics, S.A.P.I DE C. V. (AMX)	Marketing and trade of industrial use computers	96.90	97.50	97.50	Notes 2 and 5
         	Advantech Intelligent Services Co., Ltd. (AiCS)	Design, research and development and sales of intelligent services	100.00	100.00	100.00	Note 2
         	Advantech Corporation (Thailand) Co., Ltd. (ATH)	Manufacturing of computer products	49.51	51.00	51.00	Notes 2 and 18
         	PT. Advantech International (AID)	Marketing and trade of industrial use computers	1.00	1.00	1.00	Note 2
         	Advantech Vietnam Technology Company Limited (AVN)	Marketing and trade of industrial use computers	60.00	60.00	60.00	Note 2
         	Advantech Technology Limited Liability Company (ARU)	Manufacturing, marketing and trade of industrial use computers	-	-	100.00	Notes 2 and 13
         	Advantech Turkey Teknoloji A.S. (ATR)	Wholesale of computers and peripheral devices	100.00	100.00	80.10	Notes 2 and 4
         	ADVANTECH IOT ISRAEL LTD. (AIL)	Trading of industrial network communications systems	100.00	100.00	100.00	Note 2
         	Huan Yan Water Solution Co., Ltd.	Service plan for combination of related technologies of water treatment and Applications of Internet of Things	90.00	90.00	90.00	Note 2

         Ownership (%)

         Name of

         Name of

         September

         December

         September

         investor subsidiary Business activities 30, 2025 31, 2024 30, 2024 Description

         The Company	Advantech Technology FZCO (ADB) [Formerly Advantech Technology DMCC (ADB)]	Trading of industrial network communication systems	100.00	100.00	100.00	Notes 2 and 17
         	Advantech Automation Corp. (HK) Limited [ACC (HK)]	Oversea investment in manufacturing and services industries	100.00	100.00	100.00
         	Advantech Corporate Investment Ltd. (ACI KY)	General investment	100.00	100.00	100.00	Note 2
         	Cermate Technologies Inc. (Cermate Taiwan)	Manufacturing of electronic components, computers, and peripheral devices	45.00	45.00	45.00	Note 2
         	AUERS TECHNOLOGIES S.A. (Aures)	Retail electronic and computer products marketing and sales	100.00	36.32	-	Notes 2 and 15
         Advantech Corporate Investment (ACI)	Cermate Technologies Inc. (Cermate Taiwan)	Manufacturing of electronic components, computers, and peripheral devices	55.00	55.00	55.00	Note 2
         	Advantech Intellingent Health Co., Ltd. (AIH)	Servicing of information software and data processing	-	-	100.00	Notes 2 and 14
         	Yan Xu Green Electricity Co., Ltd. (Yan Xu Green Electricity)	Green energy power plant development	82.50	82.50	82.50	Note 2
         	Expetech Co., Ltd. (Expetech)	Computer system integration service	59.23	59.23	59.23	Notes 2 and 12
         Advantech Technology Co., Ltd. (ATC)	HK Advantech Technology Co., Ltd. [ATC (HK)]	Overseas investment in manufacturing and services industries	100.00	100.00	100.00

         Ownership (%)

         Name of

         Name of

         September

         December

         September

         investor subsidiary Business activities 30, 2025 31, 2024 30, 2024 Description

         HK Advantech Technology Co., Ltd. [ATC (HK)]	Advantech Technology (China) Company Ltd. (AKMC)	Manufacturing and trade of interface cards and PC cases, plastic cases and accessories	100.00	100.00	100.00
         Advantech Automation Corporation Limited (AAC MT) (Formerly Advantech Automation Corporation [AAC (BVI)])	Advantech Corp. (ANA)	Marketing, trade and assembly of industrial use computers	100.00	100.00	100.00
         Advantech Corp. (ANA)	Advantech Technology Limited (AIE)	Trading of industrial network communication systems	100.00	100.00	100.00	Note 2
         	BitFlow, Inc. (ABO)	High-speed image capture core technology in the advanced fields of image and AI machine vision technology	100.00	100.00	100.00	Note 2
         Advantech Automation Corp. (HK) Limited [AAC (HK)]	Beijing Yan Hua Xing Ye Electronic Science & Technology Co., Ltd. (ACN)	Marketing and trade of industrial use computers	100.00	100.00	100.00
         	Shanghai Advantech Intelligent Services Co., Ltd. (ACI CN)	Overseas investment	82.00	82.00	82.00	Note 2
         Beijing Yan Hua Xing Ye Electronic Science & Technology Co., Ltd. (ACN)	Xi'an Advantech Software Ltd. (AXA)	Development and manufacturing of software products	100.00	100.00	100.00	Note 2

         Ownership (%)

         Name of

         Name of

         September

         December

         September

         investor subsidiary Business activities 30, 2025 31, 2024 30, 2024 Description

         Beijing Yan Hua Xing Ye Electronic Science & Technology Co., Ltd. (ACN)	Shanghai Advantech Intelligent Service Co., Ltd. (ACI CN)	Overseas investment	18.00	18.00	18.00	Note 2
         Shanghai Advantech Intelligent Services Co., Ltd. (ACI CN)	Advantech Service-IoT (Shanghai) Co., Ltd. [SIoT (China)]	Technology development, consulting and services in the field of intelligent technology	-	100.00	100.00	Notes 2 and 19
         	Adveco Technology Co., Ltd. (Adveco)	Technology development, consulting, services, product design, production and project implementation in the field of smart buildings	30.00	30.00	27.78	Notes 2, 6 and 11
         	Adveco Management Consulting Co., Ltd. (Adveco Management)	Enterprise management consulting, information consulting, planning, service	60.00	60.00	60.00	Notes 2 and 7
         	Shanghai Fuhua Huichuang Intelligent Information Technology Co., Ltd. (Fuhua Huichuang)	Development and sales of information security devices, intelligent systems and cloud technologies	50.00	-	-	Notes 2 and 16
         Adveco Management Consulting Co., Ltd. (Adveco Management)	Adveco Management Consulting No.1 (Limited partnership) (Adveco Management No.1)	Enterprise management consulting, information consulting, planning, service	99.90	99.90	99.90	Notes 2, 8 and 11

         Ownership (%)

         Name of

         Name of

         September

         December

         September

         investor subsidiary Business activities 30, 2025 31, 2024 30, 2024 Description

         Adveco Management Consulting Co., Ltd. (Adveco Management)	Adveco Management Consulting No. 2 (Limited partnership) (Adveco Management No. 2)	Enterprise management consulting, information consulting, planning, service	99.90	99.90	99.90	Notes 2, 9 and 11
         Adveco Management Consulting No. 1 (Limited partnership) (Adveco Management No. 1)	Adveco Technology Co., Ltd. (Adveco)	Technology development, consulting, services, product design, production and project implementation in the field of smart buildings	20.00	20.00	22.22	Notes 2, 6 and 11
         Adveco Management Consulting No. 2 (Limited partnership) (Adveco Management No. 2)	Adveco Technology Co., Ltd. (Adveco)	Technology development, consulting, services, product design, production and project implementation in the field of smart buildings	20.00	20.00	22.22	Notes 2, 6 and 11
         Advantech Europe Holding B.V. (AEUH)	Advantech Europe B.V. (AEU)	Marketing and trade of industrial use computers	100.00	100.00	100.00
         	Advantech Poland Sp z o.o. (APL)	Marketing and trade of industrial use computers	100.00	100.00	100.00	Note 2
         Advantech Co., Singapore Pte, Ltd. (ASG)	Advantech Corporation (Thailand) Co., Ltd. (ATH)	Manufacturing of computer products	50.49	49.00	49.00	Notes 2 and 18
         	PT. Advantech International (AID)	Marketing and trade of industrial use computers	99.00	99.00	99.00	Note 2
         	Advantech Electronics, S.A.P.I. DE C.V. (AMX)	Marketing and trade of industrial use computers	0.10	0.10	0.10	Notes 2 and 5

         Ownership (%)

         Name of

         Name of

         September

         December

         September

         investor subsidiary Business activities 30, 2025 31, 2024 30, 2024 Description

         Cermate Technologies Inc. (Cermate Taiwan)	LandMark Co., Ltd. (LandMark)	General investment	100.00	100.00	100.00	Note 2
         LandMark Co., Ltd. (LandMark)	Shenzhen Cermate Technologies Inc. (Cermate Shenzhen)	Production of LCD touch screen, USB data cables, and industrial use computers	90.00	90.00	90.00	Note 2
         	Cermate software Inc. (CSI)	Software development	100.00	100.00	100.00	Note 2
         LNC Technology Co., Ltd. (LNC)	Better Auto Holdings Limited (Better Auto)	Holding company	100.00	100.00	100.00	Notes 2 and 3
         	LNCMac Technology Corp. (LNCMac)	System integration and application, system furniture intelligent design, manufacturing and sales	56.09	56.09	56.09	Notes 2 and 3
         	BEST PLC LTD. (BEST PLC)	Holding company	100.00	100.00	100.00	Notes 2 and 3
         Better Auto Holdings Limited (Better Auto)	Famous Now Limited (Famous Now)	Holding company	100.00	100.00	100.00	Notes 2 and 3
         BEST PLC LTD. (BEST PLC)	BEST SERVO LTD. (BEST SERVO)	Holding company	100.00	100.00	100.00	Notes 2 and 3
         Famous Now Limited (Famous Now)	LNC Dong Guan Co., Ltd. (LNC Dong Guan)	Manufacturing and trade of controllers	100.00	100.00	100.00	Notes 2 and 3
         LNCMac Technology Corp. (LNCMac)	BEST MACHINE LTD. (BEST MACHINE)	Holding company	100.00	100.00	100.00	Notes 2 and 3
         	BEST AUTOMATION LTD. (BEST AUTOMATION)	Holding company	100.00	100.00	100.00	Notes 2 and 3

         Ownership (%)

         Name of

         Name of

         September

         December

         September

         investor subsidiary Business activities 30, 2025 31, 2024 30, 2024 Description

         BEST MACHINE LTD. (BEST MACHINE)	LNCMac DONG GUAN Technology Co Ltd. (LNCMac DONG GUAN)	System intergration	100.00	100.00	100.00	Notes 2 and 3
         Advantech Technology Limited (AIE)	Advantech Czech, s.r.o. (ACZ)	Manufacturing of automation control	100.00	100.00	100.00	Note 2
         Advantech Industrial Computer India Private Limited (AIN)	Advantech Raiser India Private Limited (ARI)	Marketing and trade of industrial use computers	55.00	55.00	55.00	Note 2
         LNCMac DONG GUAN Technology Co., Ltd. (LNCMac DONG GUAN)	LNCMac Furniture Co., Ltd. (LNCMac Furniture)	System furniture intelligent design, manufacturing and sales	100.00	100.00	100.00	Notes 2 and 3
         AURES TECHNOLOGI ES S.A. (Aures)	AURES Technologies Ltd. (Aures UK)	Retail electronic and computer products marketing and sales	100.00	100.00	-	Notes 2 and 15
         	AURES TECHNOLOGIES GmbH (Aures DE)	Retail electronic and computer products marketing and sales	90.00	90.00	-	Notes 2 and 15
         	A.G.H. US HOLDING COMPANY, INC. (Aures AGH)	Holding company	100.00	100.00	-	Notes 2 and 15
         	J2 SYSTEMS TECHNOLOGY Limited (Aures J2SYSTEMS)	Holding company	100.00	100.00	-	Notes 2 and 15
         A.G.H. US HOLDING COMPANY, INC. (Aures AGH)	Retail Technology Group Inc. (Aures RTG)	Maintenance , installation and technical support for retail services	100.00	100.00	-	Notes 2 and 15
         J2 SYSTEMS TECHNOLOG Y Limited (Aures J2SYSTEMS)	Aures Technologies Inc. (Aures US)	Retail electronic and computer products marketing and sales	100.00	100.00	-	Notes 2 and 15

         Ownership (%)

         Name of

         Name of

         September

         December

         September

         investor subsidiary Business activities 30, 2025 31, 2024 30, 2024 Description

         J2 SYSTEMS TECHNOLOG

         Y Limited (Aures J2SYSTEMS)

         AURES

         Technologies Pty Ltd. (Aures AU)

         Retail electronic and computer products marketing and sales

         100.00 100.00 - Notes 2

         and 15

         Note 1: The Group collectively holds more than 50% of the voting shares or has control over the above subsidiaries.

         Note 2: The financial statements of the entity as of and for the nine-month periods ended September 30, 2025 and 2024 were not reviewed by the independent auditors as the entity did not meet the definition of a significant subsidiary.

         Note 3: In the first quarter of 2024, LNC did not participate in the capital increase proportionally to its equity interest in LNCMac, which resulted to a decrease in ownership to 57.49%. In the second quarter of 2024, it acquired equity interest in LNCMac from non-controlling interest, which resulted to an increase in ownership from 57.49% to 58.44%. In the third quarter of 2024, it did not participate in the capital increase proportionally to its equity interest in LNCMac, which resulted to a decrease in ownership from 58.44% to 56.09%. In the second quarter of 2024, the Group lost control over LNC and its subsidiaries, but still has significant influence over them. Accordingly, the investments in LNC and its subsidiaries were reclassified to investments accounted for under equity method from the second quarter of 2024.

         Note 4: In the fourth quarter of 2024, the Group acquired equity interest in ATR from other shareholders, which resulted to an increase in ownership from 80.10% to 100%.

         Note 5: In the first quarter of 2024, the Group sold 2.4% equity interest in AMX, which resulted to a decrease in ownership from 100% to 97.6%, and in the first quarter of 2025, the Group sold 0.6% equity interest in AMX, which resulted to a decrease in ownership from 97.6% to 97%.

         Note 6: In the first quarter of 2024, the Group established Adveco, and in the second and fourth quarter of 2024, the Group did not participate in the capital increase proportionally to its equity interest in Adveco, which resulted to a decrease in ownership from 54.88% to 53.98%.

         Note 7: In the first quarter of 2024, the Group established Adveco Management, and the Group held 60% equity interest in Adveco Management.

         Note 8: During 2024, the Group established Adveco Management No. 1, and the Group held 59.94% equity interest in Adveco Management No. 1.

         Note 9: During 2024, the Group established Adveco Management No. 2, and the Group held 59.94% equity interest in Adveco Management No. 2.

         Note 10: In the first quarter of 2024, AAC (BVI) relocated to Malta and changed its company name to Advantech Automation Corporation Limited (AAC MT).

         Note 11: The purpose of establishing Adveco Management No.1 and Adveco Management No. 2 is to serve as equity platforms for future rewards for Adveco's management and employees.

         Note 12: In the second quarter of 2024, the Group acquired 21.51% equity interest in Expetech from external shareholders for a cash consideration of $40,000, which resulted to an increase in ownership from 43.01% to 64.52%. The subsidiary was consolidated starting from the date the Group obtained control of the subsidiary, and the related information on the business combination is provided in Note 6(29), and in the third quarter of 2024, Expetech converted employee share options into common shares, which resulted to a decrease in its equity interest from 64.52% to 59.23%.

         Note 13: In the fourth quarter of 2024, ARU was dissolved and liquidated. Note 14: In the fourth quarter of 2024, AIH was dissolved and liquidated.

         Note 15: In the fourth quarter of 2024, the Group acquired 1,430,381 shares at a price of 6.31 Euros per share from Aures' major shareholder. The ownership is approximately 36.32%. Consequently, the Group became the single largest shareholder and acquired substantial control over Aures. The subsidiary was consolidated starting from the date the Group obtained control of the subsidiary, and the related information on the business combination is provided in Note 6(29). In the first quarter of 2025, there was a continued acquisition of 2,210,774 shares, resulting in an increase in the ownership percentage to 92.39%. The Company has completed the tender offer of Aures Technologies S.A. (Aures). As approved by Autorite des marches financiers, the squeeze-out and delisting procedure were implemented on April 14, 2025.

         Note 16: In the first quarter of 2025, the Group established and held a 50% equity interest in Fuhua Huichuang. Under the investment agreement, the Group holds 68.18% of the voting rights in Fuhua Huichuang, thus exercising control and incorporating into the consolidated financial statements.

         Note 17: In the second quarter of 2025, Advantech Technology DMCC (ADB) changed its company name to Advantech Technology FZCO (ADB).

         Note 18: In the third quarter of 2025, ATH made a cash capital increase, which was fully subscribed by ASG and resulted to an increase in ownership from 49% to 50.49%.

         Note 19: SIoT (China) was dissolved and liquidated in the third quarter of 2025.

      3. Subsidiaries not included in the consolidated financial statements: None.

      4. Adjustments for subsidiaries with different balance sheet dates: None.

      5. Significant restrictions: None.

      6. Subsidiaries that have non-controlling interests that are material to the Group: None.

   4. Financial assets at amortised cost

      1. Financial assets at amortised cost are those that meet all of the following criteria:

         1. The objective of the Group's business model is achieved by collecting contractual cash flows.

         2. The assets' contractual cash flows represent solely payments of principal and interest.

      2. On a regular way purchase or sale basis, financial assets at amortised cost are recognised and derecognised using trade date accounting .

      3. At initial recognition, the Group measures the financial assets at fair value plus transaction costs. Interest income from these financial assets is included in finance income using the effective interest method. A gain or loss is recognised in profit or loss when the asset is derecognised or impaired.

      4. The Group's time deposits which do not fall under cash equivalents are those with a short maturity period and are measured at initial investment amount as the effect of discounting is immaterial.

   5. Defined benefit plans

      Pension cost for the interim period is calculated on a year-to-date basis by using the pension cost rate derived from the actuarial valuation at the end of the prior financial year, adjusted for significant market fluctuations since that time and for significant curtailments, settlements, or other significant one-off events.

   6. Income tax

      The interim period income tax expense is recognised based on the estimated average annual effective income tax rate expected for the full financial year applied to the pretax income of the interim period.

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

   There have been no significant changes as of September 30, 2025. Please refer to Note 5 in the consolidated financial statements for the year ended December 31, 2024.

6. DETAILS OF SIGNIFICANT ACCOUNTS

   1. Cash and cash equivalents

      September 30, 2025 December 31, 2024 September 30, 2024

      Cash on hand and revolving
      funds Checking accounts and demand	$	765	$	537	$	582
      deposits	8,384,036		9,958,905		8,894,156
      Cash equivalents (time deposits
      with original maturities less
      than three months)	2,740,822		3,657,603		3,459,840
      	$ 11,125,623		$ 13,617,045		$ 12,354,578

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

      2. The Group had no cash and cash equivalents pledged to others.

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

      September 30, 2025 December 31, 2024 September 30, 2024

      Financial assets - current
      Mandatorily measured at fair
      value through profit or loss Derivative instruments (not
      under hedge accounting) Forward foreign exchange
      contracts	$	119	$	746	$ 2,285
      Non-derivative financial assets Listed, OTC and emeriging
      stocks	169,225		158,727		153,084
      Beneficiary certificates	2,737,257		5,651,332		4,422,779
      Ordinary corporate bonds Convertible corporate	251,475		100,281		-
      bonds -			-		31,770
      $ 3,158,076			$ 5,911,086		$ 4,609,918
      Financial assets - non-current
      Mandatorily measured at fair
      value through profit or loss
      Non-derivative financial assets Listed, OTC and emeriging
      stocks Unlisted and non-OTC	$ 701,071		$ 417,703		$ 454,644
      stocks	66,740		73,573		70,202
      Beneficiary certificates	1,791,971		2,164,804		2,237,689
      Ordinary corporate bonds Convertible corporate	382,632		553,491		354,891
      bonds -			-		113,216
      $ 2,942,414			$ 3,209,571		$ 3,230,642

      Financial liabilities - current Mandatorily measured at fair

      value through profit or loss Derivative instruments (not under hedge accounting)

      Forward foreign exchange

      contracts

      $ 13,530

      $ 7,902

      $ 728

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

         For the three-month periods ended September 30,

         2025 2024

         Financial assets and liabilities mandatorily measured at fair value through profit or loss

         Non-derivative instruments

         ($ 117,016) ($

         96,572)

         Derivative instruments

         Financial assets and liabilities mandatorily measured at fair value through profit or loss

         ( 22,399) ( 1,089)

         ($ 139,415) ($ 97,661)

         For the nine-month periods ended September 30,

         2025 2024

         Non-derivative instruments

         ($ 315,958) ($

         77,141)

         Derivative instruments 4,246 ( 59,442)

         ($ 311,712) ($ 136,583)

      2. At the balance sheet date, outstanding forward foreign exchange contracts not accounted for under hedge accounting are as follows:

         Derivative financial assets:

         September 30, 2025 Currency Maturity date Contract amount (in thousands)

         Sell forward	USD/NTD	2025.11	USD 1,000/NTD	30,480
         foreign exchange	CNY/NTD	2025.11	CNY 3,000/NTD	12,870
         	JPY/NTD	2025.10~2025.11	JPY 40,000/NTD	8,267
         December 31, 2024	Currency	Maturity date	Contract amount (in thousands)
         Sell forward	EUR/NTD	2025.01	EUR 2,000/NTD 68,802
         foreign exchange	CNY/NTD JPY/NTD	2025.01 2025.01~2025.02	CNY 5,000/NTD 22,475 JPY 40,000/NTD 8,539
         September 30, 2024	Currency	Maturity date	Contract amount (in thousands)
         Sell forward	EUR/NTD	2024.10~2024.11	EUR 1,500/NTD 53,220
         foreign exchange	CNY/NTD JPY/NTD USD/NTD	2024.11 2024.10~2024.11 2024.10~2024.11	CNY 4,000/NTD 18,134 JPY 30,000/NTD 6,732 USD 11,000/NTD 350,171

         Derivative financial liabilities:

         September 30, 2025 Currency Maturity date Contract amount (in thousands)

         Sell forward EUR/NTD 2025.10~2025.11 EUR 9,500/NTD 335,017

         foreign exchange USD/NTD 2025.10~2025.11 USD 14,500/NTD 434,865 CNY/NTD 2025.10~2025.11 CNY 29,000/NTD 122,119 JPY/NTD 2025.10~2025.11 JPY 180,000/NTD 36,675

         December 31, 2024	Currency	Maturity date	Contract amount (in thousands)
         Sell forward	EUR/NTD	2025.01~2025.02	EUR 4,000/NTD 135,964
         foreign exchange	USD/NTD CNY/NTD	2025.01~2025.02 2025.01	USD 13,500/NTD 435,572 CNY 25,000/NTD 111,670
         September 30, 2024	Currency	Maturity date	Contract amount (in thousands)
         Sell forward	EUR/NTD	2024.10~2024.11	EUR 3,500/NTD 123,538
         foreign exchange	USD/NTD CNY/NTD	2024.10 2024.10~2024.11	USD 500/NTD 15,821 CNY 26,000/NTD 117,166

      3. The Group entered into forward foreign exchange contracts to manage exposure to exchange rate fluctuations of foreign-currency denominated assets and liabilities. However, those contracts did not meet the criteria of hedge effectiveness and therefore were not accounted for under hedge accounting.

      4. Details of the Group's financial assets at fair value through profit or loss pledged to others as collateral are provided in Note 8.

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

   3. Financial assets at fair value through other comprehensive income

      	September 30, 2025	December 31, 2024	September 30, 2024
      Listed and OTC stocks	$ 3,065,134	$ 2,620,028	$ 2,425,403
      Unlisted and non-OTC stocks	131,155	167,243	362,275
      	$ 3,196,289	$ 2,787,271	$ 2,787,678

      1. These investments in equity instruments are held for medium to long-term strategic purposes. Accordingly, the management elected to designate these investments in equity instruments as at fair value through other comprehensive income as they believe that recognizing short-term fluctuations in these investments' fair value in profit or loss would not be consistent with the Group's strategy of holding these investments for long-term purposes.

      2. Amounts recognised in profit or loss and other comprehensive income in relation to the financial assets at fair value through other comprehensive income are listed below:

         For the three-month periods ended September 30,

         2025 2024

         Equity instruments at fair value through other comprehensive income

         Fair value change recognised in other

         comprehensive income

         Cumulative gains reclassified to retained earnings due to derecognition

         Dividend income recognised in profit or loss held at end of period

         $ 224,959

         $ -

         $ 160,670

         $ 200,155

         $ -

         $ 91,581

         Equity instruments at fair value through other comprehensive income

         Fair value change recognised in other

         For the nine-month periods ended September 30,

         2025 2024

         comprehensive income

         Cumulative gains reclassified to retained earnings due to derecognition

         Dividend income recognised in profit or loss held at end of period

         $ 338,847

         $ 7,830

         $ 187,255

         $ 41,405

         $ 86,635

         $ 200,116

      3. The Group had no financial assets at fair value through other comprehensive income pledged to others as collateral.

   4. Financial assets at amortised cost

      Items September 30, 2025 December 31, 2024 September 30, 2024 Current items:

      Time deposits

      Non-current items:

      $ 456,330

      $ 928,283

      $ 789,261

      Time deposits

      $ - $

      - $ 63,300

      Ordinary corporate bonds	1,424,093	-	-
      	$ 1,424,093	$ -	$ 63,300

      1. Amounts recognised in profit or loss in relation to financial assets at amortised cost are listed below:

         For the three-month periods ended September 30,

         2025 2024

         Interest income

         $ 15,822

         $ 4,992

         For the nine-month periods ended September 30,

         2025 2024

         Interest income

         $ 35,497

         $ 13,838

      2. As of September 30, 2025, December 31, 2024 and September 30, 2024, without taking into account any collateral held or other credit enhancements, the maximum exposure to credit risk in respect of the amount that best represents the financial assets at amortised cost held by the Group were $1,880,423, $928,283 and $852,561, respectively.

      3. Details of the Group's financial assets at amortised cost pledged to others as collateral are provided in Note 8.

      4. Information relating to credit risk of financial assets at amortised cost is provided in Note 12(2). The counterparties of the Group's investments in certificates of deposits are financial institutions with high credit quality, so the Group expects that probability of counterparty default is remote.

   5. Notes and accounts receivable

      September 30, 2025 December 31, 2024 September 30, 2024

      Notes receivable Less: Allowance for

      $ 1,608,216 $

      1,491,603 $

      1,424,891

      uncollectible accounts ( 730) ( 747) ( 811)

      $ 1,607,486 $ 1,490,856 $ 1,424,080

      Accounts receivable Less: Allowance for

      $ 9,730,814 $

      8,981,743 $

      7,969,776

      uncollectible accounts ( 313,609) ( 371,867) ( 135,882)

      $ 9,417,205 $ 8,609,876 $ 7,833,894

      1. The ageing analysis of notes and accounts receivable is as follows:

         	September 30, 2025	December 31, 2024	September 30, 2024
         Not past due	$ 10,213,604	$ 9,193,017	$ 8,376,366
         Less than 90 days past due Between 91 to 180 days	1,021,870	1,139,008	861,925
         past due	32,449	22,832	28,463
         Over 181 days past due	71,107	118,489	127,913
         	$ 11,339,030	$ 10,473,346	$ 9,394,667

         The above aging analysis was based on past due date.

      2. Except for the balances shown above, the balance of notes and accounts receivable from contracts with customers was $9,408,369 at January 1, 2024.

      3. The Group does not hold collateral as security for accounts receivable.

      4. As of September 30, 2025, December 31, 2024 and September 30, 2024, without taking into account any collateral held or other credit enhancements, the maximum exposures to credit risk in respect of the amounts that best represent the Group's notes receivable were $1,607,486,

         $1,490,856 and $1,424,080, respectively. The maximum exposures to credit risk in respect of the amounts that best represents the Group's accounts receivable were $9,417,205, $8,609,876 and $7,833,894, respectively.

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

   6. Inventories

September 30, 2025