Stock Code:5871
CHAILEASE HOLDING COMPANY LIMITED AND SUBSIDIARIES Consolidated Financial Statements With Independent Auditors' Report For the Six Months Ended June 30, 2025 and 2024 Address: No.362, Ruiguang Rd., Neihu District, Taipei, Taiwan, (R.O.C.) Telephone: 886-2-8752-6388The independent auditors' report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors' report and consolidated financial statements, the Chinese version shall prevail.
Contents | Page |
1. Cover Page | 1 |
2. Table of Contents | 2 |
3. Independent Auditors' Report | 3 |
4. Consolidated Balance Sheets | 4 |
5. Consolidated Statements of Comprehensive Income | 5 |
6. Consolidated Statements of Changes in Equity | 6 |
7. Consolidated Statements of Cash Flows | 7 |
| 8 |
(2) Approval date and procedures of the consolidated financial statements | 8 |
(3) New standards, amendments and interpretations adopted | 8～10 |
(4) Summary of material accounting policies | 10～18 |
(5) Significant accounting assumptions and judgments, and major sources of | 18 |
estimation uncertainty
Explanation to significant accounts 18～86
Related party transactions 86～92
Pledged assets 92
Commitments and contingencies 93
Losses due to major disasters 93
Subsequent events 93
Other 93～96
Other disclosures
Information on significant transactions 97～109
Information on investees 110～116
Information on investment in mainland China 116～117
Segment information 117～119
To the Board of Directors of Chailease Holding Company Limited:
OpinionWe have audited the consolidated financial statements of Chailease Holding Company Limited and its subsidiaries ("the Group"), which comprise the consolidated balance sheets as of June 30, 2025 and 2024, and the related consolidated statements of comprehensive income for the three months and the six months ended June 30, 2025 and 2024, changes in equity and cash flows for the six months ended June 30, 2025 and 2024, and notes to the consolidated financial statements, including a summary of material accounting policies.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respect, the consolidated financial position of the Group as of June 30, 2025 and 2024, and its consolidated financial performance for the three months and the six months ended June 30, 2025 and 2024, and its consolidated cash flows for the six months ended June 30, 2025 and 2024 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standards 34 " Interim Financial Reporting" endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China.
Basis for OpinionWe conducted our audits in accordance with the Regulations Governing Financial Statement Audit and Attestation Engagements of Certified Public Accountants and the Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Group in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirement. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis of our opinion.
Key Audit MattersKey audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements for the six months ended June 30, 2025. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have determined the matters described below to be the key audit matters to be commanicated in our report.
Impairment assessment of accounts receivableRefer to Note (4)(g) " Financial instruments" and Note (5) " Significant accounting assumptions and judgments, and major sources of estimation uncertainty" of the consolidated financial statements for the year ended December 31, 2024, and Note (6)(d) " accounts receivable, net" to the consolidated financial statements for the details of the information about impairment assessment on accounts receivable.
Description of key audit matter:The Group is engaged primarily in providing various services of leasing and financing, in which accounts receivable is a significant account of the Group. Impairment allowances are provided on accounts receivable based on management' s best estimate of the potential losses in the accounts receivable portfolios at the balance sheet date. Management exercise judgment in making assumptions and estimations when calculating for impairment allowances on both individually and collectively assessed accounts receivables.
How the matter was addressed in our audit:In relation to the key audit matter above, we have performed certain key audit procedures that included evaluating the adequacy of the Group' s impairment policy on financial assets; testing to check compliance with the internal control on the process of evaluating impairment losses on loans and receivable; evaluating and testing the assumptions and data used in the calculation; and evaluating the adequacy of the Group' s disclosure for Impairment allowances on loans and receivables.
Responsibilities of Management and Those Charged with Governance for the Consolidated Financial StatementsManagement 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 Standards 34 " Interim Financial Reporting" endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, management is responsible for assessing the Group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.
Those charged with governance (including the Audit Committee) are responsible for overseeing the Group's financial reporting process.
Auditor's Responsibilities for the Audit of the Consolidated Financial StatementsOur objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Standards on Auditing of the Republic of China will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.
As part of an audit in accordance with the Standards on Auditing of the Republic of China, we exercise professional judgment and professional skepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient and appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements for the six months ended June 30, 2025 and are therefore the key audit matters. We describe these matters in our auditors' report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
The engagement partners on the audit resulting in this independent auditors' report are Wu,Tsao-Jen and Chen, Yi-Chun.
KPMG
Taipei, Taiwan (Republic of China) August 27, 2025
Notes to Readers
The accompanying consolidated financial statements are intended only to present the consolidated financial statements of financial position, financial performance and cash flows in accordance with the accounting principle and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to audit such consolidated financial statements are those generally accepted and applied in the Republic of China.
The independent auditors' report and the accompanying consolidated financial statements are the English translation of the Chinese version prepared and used in the Republic of China. If there is any conflict between, or any difference in the interpretation of the English and Chinese language independent auditors' report and consolidated financial statements, the Chinese version shall prevail.
(English Translation of Consolidated Financial Statements Originally Issued in Chinese) CHAILEASE HOLDING COMPANY LIMITED AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS
June 30, 2025, December 31, 2024, and June 30, 2024 (Amounts Expressed in Thousands of New Taiwan Dollars)2025.6.30 2024.12.31 2024.6.30
Assets Amount % Amount % Amount % Current assets：
1100 Cash and cash equivalents (Notes (6)(a)) $ 37,695,651 4 36,201,407 4 43,689,965 5
2025.6.30 2024.12.31 2024.6.30
Liabilities and Equity Amount % Amount % Amount % Current Liabilities：
2100 Short-term borrowings (Notes (6)(k) and (8)) $ 68,218,570 7 68,280,290 7 68,106,098 7
1110 Current financial assets at fair value through profit or loss
6,055,477 1 5,899,471 1 3,914,666 -
2110 Short-term notes and bills payable (Notes (6)(j) and (8)) 138,896,520 15 123,378,546 12 124,966,786 13
(Note (6)(b))
1136 Current financial assets at amortized cost (Notes (6)(b) and (7)) 39,441,477 4 24,855,173 2 24,570,660 3
2120 Current financial liabilities at fair value through profit or loss (Note (6)(b))
1,631 - - - - -
1139 Current financial assets for hedging (Notes (6)(b) and (6)(c)) 415,272 - 565,944 - 2,073,567 -1170 Accounts receivable, net (Notes (6)(d), (7) and (8)) 573,072,961 61 561,542,947 57 560,670,898 58
1476 Other current financial assets (Notes (7) and (8)) 21,861,744 2 23,369,044 2 21,489,592 2
1479 Other current assets (Notes (6)(e) and (7)) 9,468,486 1 10,542,012 1 10,275,803 1
688,011,068 73 662,975,998 67 666,685,151 69
Non-current assets：
2126 Current financial liabilities for hedging (Notes (6)(b) and (6)(c)) 568,556 - 200,762 - 889,067 -2170 Accounts and notes payable (Note (7)) 7,014,634 1 5,648,699 1 6,347,533 1
2230 Current tax liabilities 3,239,551 - 4,255,246 - 3,460,380 -
2280 Current lease liabilities (Notes (6)(m) and (7)) 1,765,732 - 1,648,182 - 1,213,658 -
2305 Other current financial liabilities (Note (7)) 82,941,712 9 75,560,371 8 85,653,123 9
2320 Long-term liabilities, current portion (Notes (6)(k), (6)(l) and (8)) 328,635,430 35 301,372,433 31 279,397,130 29
1510 Non-current financial assets at fair value through profit or loss (Notes (6)(b)and (6)(l))
1517 Non-current financial assets at fair value through other
37,441 - 33,205 - 32,391 -
339,944 - 336,854 - 360,661 -
2399 Other current liabilities 4,854,162 1 5,409,377 - 5,641,231 -
636,136,498 68 585,753,906 59 575,675,006 59
Non-current Liabilities：
comprehensive income (Note (6)(b))
1535 Non-current financial assets at amortized cost (Note (6)(b) and (8)) 4,008,749 - 12,324,817 1 9,551,980 1
2511 Non-current financial liabilities for hedging (Notes (6)(b) and (6)(c))
147,165 - 49,237 - - -
1538 Non-current financial assets for hedging (Notes (6)(b) and (6)(c)) - - 48,369 - 14,870 -
2530 Bonds payable (Note (6)(l)) 40,679,171 4 55,337,064 6 55,245,296 6
1550 Investments accounted for using equity method (Notes (6)(f) and (8))
4,142,206 - 4,407,100 - 3,826,302 -
2540 Long-term borrowings (Notes (6)(k) and (8)) 76,274,944 8 135,324,019 14 153,928,976 16
2570 Deferred tax liabilities 4,984,182 1 4,632,174 - 4,596,934 -
1600 Property, plant and equipment (Notes (6)(h), (7) and (8)) 101,120,115 11 100,172,832 10 97,604,700 10
1755 Right-of-use assets (Notes (6)(i) and (7)) 8,430,318 1 8,761,376 1 7,526,525 1
1780 Intangible assets 323,521 - 399,859 - 512,498 -
1840 Deferred tax assets 10,858,359 1 10,647,387 1 7,833,296 1
1930 Long-term accounts receivable, net (Notes (6)(d), (7) and (8)) 111,645,868 12 168,072,633 18 165,929,696 17
1995 Other non-current assets (Notes (7) and (8)) 16,698,626 2 14,223,413 2 13,290,162 1
257,605,147 27 319,427,845 33 306,483,081 31
TOTAL ASSETS $ 945,616,215 100 982,403,843 100 973,168,232 100
2580 Non-current lease liabilities (Notes (6)(m) and (7)) 6,808,681 1 7,243,640 1 6,421,030 1
2600 Other non-current liabilities 4,945,447 1 9,931,965 1 10,060,152 1
133,839,590 15 212,518,099 22 230,252,388 24
Total Liabilities 769,976,088 83 798,272,005 81 805,927,394 83
Equity attributable to owners of the Company： (Note (6)(p) and (6)(q))
3110 Ordinary share 16,778,638 2 16,778,638 2 16,145,724 2
3120 Preferred share 1,500,000 - 1,500,000 - 1,500,000 -
3150 Stock dividend to be distributed 335,573 - - - 322,914 -3200 Capital surplus 45,726,267 5 45,467,665 5 41,854,661 4
3320 Special reserve - - 3,541,758 - 3,541,758 -
3350 Unappropriated retained earnings 108,634,508 11 105,735,441 11 95,324,997 10
3400 Other equity items (8,681,229) (2) 70,734 - (1,036,780) -
Total equity attributable to owners of the Company 164,293,757 16 173,094,236 18 157,653,274 16
36XX Non-controlling interests 11,346,370 1 11,037,602 1 9,587,564 1
Total equity 175,640,127 17 184,131,838 19 167,240,838 17
TOTAL LIABILITIES AND EQUITY $ 945,616,215 100 982,403,843 100 973,168,232 100
The accompanying notes are an integral part of the consolidated financial statements.
〜4〜
(English Translation of Consolidated Financial Statements Originally Issued in Chinese)
CHAILEASE HOLDING COMPANY LIMITED AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the three months ended June 30, 2025 and 2024 and for the six months ended June 30, 2025 and 2024 (Amounts Expressed in Thousands of New Taiwan Dollars)For the three months ended June 30 For the six months ended June 30,
2025 2024 2025 2024
Amount % | Amount | % | Amount | % | Amount | % | |||
Operating revenues: (Note (7)) | |||||||||
4111 | Sales revenue | $ 2,526,795 | 10 | 2,257,492 | 9 | 4,311,192 | 9 | 3,824,422 | 7 |
4810 | Interest revenue - installment sales | 5,518,022 | 22 | 5,563,131 | 22 | 11,161,378 | 23 | 11,075,569 | 22 |
4820 | Interest revenue - capital leases | 7,139,479 | 29 | 7,935,559 | 31 | 15,052,264 | 30 | 15,737,685 | 31 |
4300 | Rental revenue - operating leases | 1,744,713 | 7 | 1,716,368 | 6 | 3,484,915 | 7 | 3,412,157 | 7 |
4230 | Interest revenue - loans | 3,312,745 | 14 | 3,045,918 | 12 | 6,424,830 | 13 | 6,036,231 | 12 |
4240 | Other interest revenue | 2,640,375 | 11 | 3,151,767 | 12 | 5,388,620 | 11 | 6,421,218 | 13 |
4881 | Other operating revenue | 1,692,205 | 7 | 2,065,037 | 8 | 3,457,645 | 7 | 4,239,006 | 8 |
24,574,334 | 100 | 25,735,272 | 100 | 49,280,844 | 100 | 50,746,288 | 100 | ||
Operating costs: (Note (7)) | |||||||||
5111 | Cost of sales | 1,383,823 | 6 | 1,214,599 | 5 | 2,539,237 | 6 | 2,209,758 | 4 |
5240 | Interest expense | 4,765,744 | 19 | 5,180,362 | 20 | 9,750,618 | 19 | 10,239,085 | 20 |
5300 | Cost of rental revenue | 1,225,530 | 5 | 1,124,886 | 4 | 2,455,395 | 5 | 2,278,080 | 5 |
5800 | Other operating costs | 927,868 | 4 | 1,089,835 | 4 | 1,941,160 | 4 | 2,369,621 | 5 |
8,302,965 | 34 | 8,609,682 | 33 | 16,686,410 | 34 | 17,096,544 | 34 | ||
Gross profit from operation | 16,271,369 | 66 | 17,125,590 | 67 | 32,594,434 | 66 | 33,649,744 | 66 | |
6400 | Operating expenses (Note (7)) | 4,803,686 | 19 | 4,694,057 | 18 | 9,753,755 | 20 | 9,087,064 | 18 |
6450 | Expected credit loss (Note (6)(d)) | 4,859,718 | 20 | 4,608,105 | 18 | 9,828,533 | 20 | 9,056,208 | 18 |
6500 Net other income and expenses (Note (6)(t)) 303,596 | 1 | 298,908 | 1 | 673,796 | 1 | 547,194 | 1 | |||
Operating profit 6,911,561 | 28 | 8,122,336 | 32 | 13,685,942 | 27 | 16,053,666 | 31 | |||
Non-operating income and expenses: 7100 Interest income 151,687 | 1 | 178,097 | 1 | 208,132 | - | 263,855 | 1 | |||
7130 | Dividend income | 4,665 | - | 4,533 | - | 7,708 | - | 5,161 | - | |
7020 Other gains and losses (Note (6)(g), (6)(u) and (7)) 307,871 | 1 | 849,658 | 3 | 1,543,400 | 3 | 1,016,481 | 2 | |||
7060 Share of profit (loss) of associates and joint ventures accounted for using equity method (Note (6)(f)) (12,289) | - | 3,853 | - | 27,939 | - | 38,711 | - | |||
451,934 | 2 | 1,036,141 | 4 | 1,787,179 | 3 | 1,324,208 | 3 | |||
7900 Profit before income tax 7,363,495 | 30 | 9,158,477 | 36 | 15,473,121 | 30 | 17,377,874 | 34 | |||
7950 Less: Income tax expenses (Note (6)(o)) 2,131,740 | 9 | 2,547,090 | 10 | 4,481,933 | 9 | 4,763,030 | 9 | |||
Profit for the period 5,231,755 | 21 | 6,611,387 | 26 | 10,991,188 | 21 | 12,614,844 | 25 | |||
Other comprehensive income (loss): | ||||||||||
8310 | Components of other comprehensive income that will not be reclassified to profit or loss | |||||||||
8316 | Unrealized gains (losses) from investments in equity instruments measured at fair value through other comprehensive income | (3,062) | - | 25,559 | - | (35,721) | - | 41,309 | - | |
8349 | Less: Income tax related to components that will not be reclassified to | |||||||||
profit or loss (Note (6)(o)) - | - | - | - | - | - | - | - | |||
(3,062) | - | 25,559 | - | (35,721) | - | 41,309 | - |
(12,870,757) | (53) | 955,065 | 4 | (10,711,505) | (21) | 3,041,261 | 6 |
1,090,631 | 4 | (308,193) | (1) | 1,094,898 | 2 | (532,123) | (1) |
(200,473) | - | 22,741 | - | (159,653) | - | 83,012 | - |
(234,107) | (1) | (166) | - | (214,683) | - | 9,995 | - |
(11,746,492) | (48) | 669,779 | 3 | (9,561,577) | (19) | 2,582,155 | 5 |
(11,749,554) | (48) | 695,338 | 3 | (9,597,298) | (19) | 2,623,464 | 5 |
$ (6,517,799) | (27) | 7,306,725 | 29 | 1,393,890 | 2 | 15,238,308 | 30 |
Total components of other comprehensive income that will not be reclassified to profit or loss
8360 Components of other comprehensive income (loss) that will be reclassified to profit or loss
8361 Exchange differences on translation of foreign financial statements 8368 Gains (losses) on hedging instruments (Note (6)(c))
8370 Share of other comprehensive income (loss) of associates and joint ventures accounted for using equity method, components of other comprehensive income that will be reclassified to profit or loss (Note (6)(f))
8999 Less: Income tax related to components of other comprehensive income that will be reclassified to profit or loss (Note (6)(o))
Total components of other comprehensive income that will be reclassified to profit or loss
Other comprehensive income (loss) (net of tax)
8500 Total comprehensive income (loss) for the period
8610 | Profit attributable to: Owners of the Company | $ 4,992,278 | 20 | 6,409,293 | 25 | 10,497,852 | 20 | 12,224,631 | 24 | ||||
8620 | Non-controlling interests | 239,477 | 1 | 202,094 | 1 | 493,336 | 1 | 390,213 | 1 | ||||
$ 5,231,755 | 21 | 6,611,387 | 26 | 10,991,188 | 21 | 12,614,844 | 25 | ||||||
8710 | Comprehensive income attributable to: Owners of the Company | $ (5,735,923) | (24) | 7,066,839 | 28 | 1,745,889 | 4 | 14,767,674 | 29 | ||||
8720 | Non-controlling interests | (781,876) | (3) | 239,886 | 1 | (351,999) | (1) | 470,634 | 1 | ||||
$ (6,517,799) | (27) | 7,306,725 | 29 | 1,393,890 | 3 | 15,238,308 | 30 | ||||||
9750 | Earnings per common share (NT dollars) (Note (6)(r)) Basic earnings per share | $ 2.58 | 3.48 | 5.80 | 6.94 | ||||||||
9850 | Diluted earnings per share | $ 2.58 | 3.43 | 5.80 | 6.85 | ||||||||
The accompanying notes are an integral part of the consolidated financial statements.
〜5〜
(English Translation of Consolidated Financial Statements Originally Issued in Chinese) CHAILEASE HOLDING COMPANY LIMITED AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
For the Six Months Ended June 30, 2025 and 2024 (Amounts Expressed in Thousands of New Taiwan Dollars)Equity Attributable to Owners of the Company
Other Equity Items Unrealized gains
(losses) from
Share Capital Retained Earnings Exchange
differences on translation of
financial assets measured
at fair value
Total equity
Ordinary
Preferred
Stock dividends to be
Capital
Special
Unappropriated retained
foreign financial
through other comprehensive
Gains (losses) on hedging
attributable to owners of
Non-controlling
Total
share
share
distributed
surplus
reserve
earnings statements income
instruments
the Company
interests
equity
Balance at January 1, 2024 | $ 16,145,724 | 1,500,000 | - | 41,862,560 | 1,777,735 | 96,213,959 | (2,896,224) | (72,641) | (572,893) | 153,958,220 | 9,377,578 | 163,335,798 | |
Profit for the six months ended June 30, 2024 | - | - | - | - | - | 12,224,631 | - | - | - | 12,224,631 | 390,213 | 12,614,844 | |
Other comprehensive income (loss) for the six months ended | |||||||||||||
June 30, 2024 | - | - | - | - | - | - | 3,033,706 | 41,309 | (531,972) | 2,543,043 | 80,421 | 2,623,464 | |
Total comprehensive income (loss) for the six months ended | |||||||||||||
June 30, 2024 | - | - | - | - | - | 12,224,631 | 3,033,706 | 41,309 | (531,972) 14,767,674 | 470,634 | 15,238,308 | ||
Appropriation and distribution of retain earnings: | |||||||||||||
Special reserve appropriated | - | - | - | - | 1,764,023 | (1,764,023) | - | - | - | - | - | - | |
Cash dividends of ordinary share | - | - | - | - | - | (10,494,721) | - | - | - | (10,494,721) | - | (10,494,721) | |
Cash dividends of preferred stock | - | - | - | - | - | (570,000) | - | - | - | (570,000) | - | (570,000) | |
Stock dividends of ordinary share | - | - | 322,914 | - | - | (322,914) | - | - | - | - | - | - | |
Other changes in capital surplus | - | - | - | 916 | - | - | - | - | - | 916 | - | 916 | |
Changes in ownership interests in subsidiaries | - | - | - | (8,514) | - | - | - | - | - | (8,514) | - | (8,514) | |
Changes in non-controlling interests | - | - | - | - | - | - | - | - | - | - | (260,648) | (260,648) | |
Disposal of investments in equity instruments designated at fair | |||||||||||||
value through other comprehensive income | - | - | - | - | - | 38,065 | - | (38,065) | - | - | - | - | |
Effects on the long-term equity investment not recognized based on | |||||||||||||
shareholding ratios | - | - | - | (301) - | - | - | - - | (301) - | (301) | ||||
Balance at June 30, 2024 | $ 16,145,724 | 1,500,000 | 322,914 | 41,854,661 3,541,758 | 95,324,997 | 137,482 | (69,397) (1,104,865) | 157,653,274 9,587,564 | 167,240,838 | ||||
The accompanying notes are an integral part of the consolidated financial statements.
(English Translation of Consolidated Financial Statements Originally Issued in Chinese) CHAILEASE HOLDING COMPANY LIMITED AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
For the Six Months Ended June 30, 2025 and 2024 (Amounts Expressed in Thousands of New Taiwan Dollars)Equity Attributable to Owners of the Company
Other Equity Items Unrealized gains
(losses) from
Share Capital Retained Earnings Exchange
differences on translation of
financial assets measured
at fair value
Total equity
Ordinary
Preferred
Stock dividends to be
Capital
Special
Unappropriated retained
foreign financial
through other comprehensive
Gains (losses) on hedging
attributable to owners of
Non-controlling
Total
share
share
distributed
surplus
reserve
earnings statements
income instruments
the Company
interests
equity
Balance at January 1, 2025 | $ 16,778,638 | 1,500,000 | - | 45,467,665 | 3,541,758 | 105,735,441 | 1,106,755 | (94,210) | (941,811) | 173,094,236 | 11,037,602 | 184,131,838 | |
Profit for the six months ended June 30, 2025 | - | - | - | - | - | 10,497,852 | - | - | - | 10,497,852 | 493,336 | 10,991,188 | |
Other comprehensive income (loss) for the six months ended | |||||||||||||
June 30, 2025 | - | - | - | - | - | - | (9,860,782) | (29,983) | 1,138,802 | (8,751,963) | (845,335) | (9,597,298) | |
Total comprehensive income (loss) for the six months ended | |||||||||||||
June 30, 2025 | - | - | - | - | - | 10,497,852 | (9,860,782) (29,983) 1,138,802 | 1,745,889 (351,999) 1,393,890 | |||||
Appropriation and distribution of retain earnings: | |||||||||||||
Cash dividends of ordinary share | - | - | - | - | - | (10,234,970) | - | - | - | (10,234,970) | - | (10,234,970) | |
Cash dividends of preferred stock | - | - | - | - | - | (570,000) | - | - | - | (570,000) | - | (570,000) | |
Stock dividends of ordinary share | - | - | 335,573 | - | - | (335,573) | - | - | - | - | - | - | |
Reversal of special reserve | - | - | - | - | (3,541,758) | 3,541,758 | - | - | - | - | - | - | |
Other changes in capital surplus | - | - | - | 1,038 | - | - | - | - | - | 1,038 | - | 1,038 | |
Changes in ownership interests in subsidiaries | - | - | - | 257,564 | - | - | - | - | - | 257,564 | (257,564) - | ||
Changes in non-controlling interests | - | - | - | - | - | - | - | - | - | - | 918,331 918,331 | ||
Balance at June 30, 2025 | $ 16,778,638 | 1,500,000 | 335,573 | 45,726,267 | - | 108,634,508 | (8,754,027) | (124,193) | 196,991 | 164,293,757 | 11,346,370 175,640,127 | ||
The accompanying notes are an integral part of the consolidated financial statements.
For the six months ended June 30,
2025 | 2024 | ||
Cash flows from operating activities: | |||
Profit before tax | $ 15,473,121 | 17,377,874 | |
Adjustments: | |||
Adjustments to reconcile (profit) loss: | |||
Depreciation expense | 4,510,491 | 4,105,567 | |
Amortization expense | 216,340 | 176,996 | |
Expected credit loss | 9,828,533 | 9,056,208 | |
Net gain on financial assets or liabilities at fair value through profit or loss | (101,509) | (92,441) | |
Interest expense | 9,832,057 | 10,296,632 | |
Interest income | (38,235,224) | (39,534,558) | |
Dividend income | (7,708) | (5,161) | |
Share of profit of associates and joint ventures accounted for using equity method | (27,939) | (38,711) | |
Gain on disposal of property, plant and equipment | (101,217) | (110,963) | |
Loss on disposal of foreclosed assets | 466,393 | 387,163 | |
Impairment loss (profit) on financial assets | 9,368 | (20,912) | |
Impairment loss on non-financial assets | 271,264 | 366,311 | |
Effect of changes and subletting in lease contract | (377) | - | |
Total adjustments to reconcile profit | (13,339,528) | (15,413,869) | |
Changes in operating assets and liabilities: Changes in operating assets:
Changes in financial assets at fair value through profit or loss, mandatorily measured at fair value | (74,267) | 835,165 |
Changes in accounts receivable | (1,619,100) | (8,979,139) |
Changes in other current assets | 236,885 | (611,273) |
Changes in other current financial assets | 935,823 | 1,562,593 |
Proceeds from sales of operating lease assets and operating equipment | 1,252,887 | 1,117,013 |
Purchase of operating lease assets and operating equipment | (6,392,889) | (8,384,899) |
Changes in other non-current assets | (2,572,362) | (1,311,221) |
Total changes in operating assets | (8,233,023) | (15,771,761) |
Changes in operating liabilities: Changes in accounts and notes payable | 1,924,100 | 1,881,383 |
Increase in long term and short-term debts | 324,886,633 | 328,554,151 |
Repayment of long term and short-term debts | (331,121,565) | (324,926,009) |
Changes in other current financial liabilities | 1,418,033 | (169,838) |
Changes in other current liabilities | (299,944) | 6,653 |
Changes in accrued pension liabilities | (10,564) | (14,248) |
Changes in other non-current liabilities | (4,768,316) | 613,023 |
Total changes in operating liabilities | (7,971,623) | 5,945,115 |
Total changes in operating assets and liabilities | (16,204,646) | (9,826,646) |
Total adjustments | (29,544,174) | (25,240,515) |
Cash flows used in operations | (14,071,053) | (7,862,641) |
Interest received | 38,405,362 | 39,685,852 |
Dividends received | 14,023 | 10,901 |
Interest paid | (9,854,792) | (10,508,434) |
Income taxes paid | (5,628,319) | (5,395,314) |
Net cash flows provided by operating activities | 8,865,221 | 15,930,364 |
The accompanying notes are an integral part of the consolidated financial statements.
For the six months ended June 30,
2025 | 2024 | |
Cash flows from investing activities: | ||
Acquisition of financial assets at fair value through other comprehensive income | (42,500) | (27,000) |
Proceeds from disposal of financial assets at fair value through other comprehensive income | - | 684,971 |
Acquisition of financial assets at amortized cost | (15,908,220) | (15,204,993) |
Proceeds from disposal of financial assets at amortized cost | 9,628,098 | 6,490,979 |
Acquisition of investments accounted for using equity method | (100,000) | (620,000) |
Acquisition of property, plant and equipment | (227,908) | (336,572) |
Proceeds from disposal of property, plant and equipment | 768 | 44,209 |
Acquisition of intangible assets | (51,225) | (32,189) |
Net cash inflows from business combination | 1,103 | 176,047 |
Net cash flows used in investing activities | (6,699,884) | (8,824,548) |
Cash flows from financing activities: | ||
Payment of lease liabilities | (532,164) | (435,225) |
Changes in non-controlling interests | 918,331 | (260,648) |
Net cash flows provided by (used in) financing activities | 386,167 | (695,873) |
Effect of exchange rate changes on cash and cash equivalents | (1,057,260) | 286,035 |
Net increase in cash and cash equivalents | 1,494,244 | 6,695,978 |
Cash and cash equivalents at beginning of period | 36,201,407 | 36,993,987 |
Cash and cash equivalents at end of period | $ 37,695,651 | 43,689,965 |
The accompanying notes are an integral part of the consolidated financial statements.
-
Company history
Chailease Holding Company Limited (the " Company" ) is an investment holding company, which was founded on December 24, 2009 under the Company Act of Cayman Islands. The Company has been listed on the Main Board of the Taiwan Stock Exchange Corporation (TWSE) since December 13, 2011.
The Company and its subsidiaries ( "the Group") were engaged primarily in providing various services of leasing and financing.
-
Approval date and procedures of the consolidated financial statements
The consolidated financial statements were authorized for issuance by Audit Committee and Board of Directors on August 27, 2025.
-
New standards, amendments and interpretations adopted:
The impact of the IFRS Accounting Standards endorsed by the Financial Supervisory Commission,
R.O.C. which have already been adopted.
The Group has initially adopted the following new amendments, which do not have a significant impact on its consolidated financial statements, from January 1, 2025:
Amendments to IAS21 "Lack of Exchangeability"
Amendments to IFRS 9 and IFRS 7 " Amendments to the Classification and Measurement of Financial Instruments" regarding the application guidance requirements for Section 4.1 of IFRS 9 and the related disclosure requirements of IFRS 7
The impact of IFRS Accounting Standards endorsed by the FSC but not yet effective
The Group assesses that the adoption of the following new amendments, effective for annual period beginning on January 1, 2026, would not have a significant impact on its consolidated financial statements:
IFRS 17 "Insurance Contracts" and amendments to IFRS 17 "Insurance Contracts"
Amendments to IFRS 9 and IFRS 7 " Amendments to the Classification and Measurement of Financial Instruments" regarding the application guidance requirements for Sections 3.1 and 3.3 of IFRS 9 and the related disclosure requirements of IFRS 7
Annual Improvements to IFRS Accounting Standards-Volume 11
Amendments to IFRS 9 and IFRS 7 "Contracts Referencing Nature-dependent Electricity"
The impact of IFRS Accounting Standards issued by IASB but not yet endorsed by the FSC
The following new and amended standards, which may be relevant to the Group, have been issued by the International Accounting Standards Board (IASB), but have yet to be endorsed by the FSC:
Effective date per
Standards or Interpretations Content of amendment IASB
IFRS 18 "Presentation and Disclosure in Financial Statements"
The new standard introduces three categories of income and expenses, two income statement subtotals and one single note on management performance measures. The three amendments, combined with enhanced guidance on how to disaggregate information, set the stage for better and more consistent information for users, and will affect all the entities.
A more structured income statement: under current standards, companies use different formats to present their results, making it difficult for investors to compare financial performance across companies. The new standard promotes a more structured income statement, introducing a newly defined 'operating profit' subtotal and a requirement for all income and expenses to be allocated between three new distinct categories based on a company's main business activities.
Management performance measures (MPMs): the new standard introduces a definition for management performance measures, and requires companies to explain in a single note to the financial statements why the measure provides useful information, how it is calculated and reconcile it to an amount determined under IFRS Accounting Standards.
Greater disaggregation of information: the new standard includes enhanced guidance on how companies group information in the financial statements. This includes guidance on whether information is included in the primary financial statements or is further disaggregated in the notes.
January 1, 2027
The Group is evaluating the impact on its consolidated financial position and consolidated financial performance upon the initial adoption of the abovementioned standards or interpretations. The results thereof will be disclosed when the Group completes its evaluation.
The Group does not expect the following other new and amended standards, which have yet to be endorsed by the FSC, to have a significant impact on its consolidated financial statements:
Amendments to IFRS 10 and IAS 28 "Sale or Contribution of Assets Between an Investor and Its Associate or Joint Venture"
IFRS 19 "Subsidiaries without Public Accountability: Disclosures"
-
Summary of material accounting policies
Statement of compliance
These consolidated financial statements have been prepared in accordance with the preparation and guidelines of IAS 34 " Interim Financial Reporting" which are endorsed and issued into effect by FSC and do not include all of the information required by the Regulations and International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations and SIC Interpretations endorsed and issued into effect by the FSC (hereinafter referred to IFRS Accounting Standards endorsed by the FSC) for a complete set of the annual consolidated financial statements.
Except the following accounting policies mentioned below, the material accounting policies adopted in the consolidated financial statements are the same as those in the consolidated financial statement for the year ended December 31, 2024. For the related information, please refer to note (4) of the consolidated financial statements for the year ended December 31, 2024.
Basis of consolidation
1.List of subsidiaries in the consolidated financial statements
Primary Shareholding Ratio
Investor | Name of Subsidiary | Business | 2025.6.30 | 2024.12.31 | 2024.6.30 | Note |
The Company | Chailease International Company (Malaysia) Limited | Investment | 100.00 % | 100.00 % | 100.00 % | |
〞 | Golden Bridge (B.V.I.) Corp. | Investment | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chailease International Financial Services Co., Ltd. | Installment sales, leasing overseas and financial consulting | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chailease International Company (Hong Kong) Limited | Investment | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chailease International Maritime Holding Co., Ltd. | Investment | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chailease International Financial Services (Labuan) Co., Ltd. | Leasing | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chailease International Financial Services (Singapore) Pte. Ltd. | Financing | 100.00 % | 100.00 % | 100.00 % | |
Chailease International Maritime Holding Co., Ltd. | Chailease International Financial Services (Liberia) Corp. | Ship leasing business | 100.00 % | 100.00 % | 100.00 % |
Primary Shareholding Ratio
Investor | Name of Subsidiary | Business | 2025.6.30 | 2024.12.31 | 2024.6.30 | Note |
Chailease International Maritime Holding Co., Ltd. | Chailease Marine Co., Ltd. | Ship leasing business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chailease Shipping Finance (Liberia) Co., Ltd. | Ship leasing business | 100.00 % | 100.00 % | 100.00 % | |
Chailease International Financial Services (Liberia) Corp. | Chailease Bright Co., Ltd. | Ship leasing business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chailease Virtue Co., Ltd. | Ship leasing business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chailease Cherish Co., Ltd. | Ship leasing business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chailease Harmony Co., Ltd. | Ship leasing business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Ace Marine Co., Ltd. | Ship leasing business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chailease Glory Co., Ltd. | Ship leasing business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chailease Blossom Co., Ltd. | Ship leasing business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chailease International Fortune Corp. (Liberia) | Ship leasing business | 100.00 % | 100.00 % | 100.00 % | |
Chailease Shipping Finance (Liberia) Co., Ltd. | Chailease Victory Co., Ltd. | Ship leasing business | 100.00 % | 100.00 % | 100.00 % | |
Golden Bridge (B.V.I.) Corp. | My Leasing (Mauritius) Corp. | Investment | - % | 100.00 % | 100.00 % | The subsidiary was liquidated on April 22, 2025. |
Chailease Chailease International International Financial Leasing Corp. Financial Services | Leasing | 97.89 % | 97.89 % | 97.89 % | ||
(Singapore) Pte. Ltd. Chailease Chailease Finance International International Corp. Financial Services (Singapore) Pte. Ltd. and | Leasing | 100.00 % | 100.00 % | 100.00 % | ||
Chailease International Financial Leasing Corp. Chailease Chailease International International Corp. Financial | Trading | 100.00 % | 100.00 % | 100.00 % | ||
Leasing Corp. 〞 Jirong Real Estate Co., Ltd. | House property leasing and management | 100.00 % | 100.00 % | 100.00 % | ||
Primary Shareholding Ratio
Investor | Name of Subsidiary | Business | 2025.6.30 | 2024.12.31 | 2024.6.30 | Note |
Chailease | Chailease International | Factoring | 100.00 % | 100.00 % | 100.00 % | |
International | Commercial Factoring | |||||
Financial | Corporation | |||||
Leasing Corp. | ||||||
〞 | Chailease Commercial | Factoring | 100.00 % | 100.00 % | 100.00 % | |
Factoring Corporation | ||||||
Chailease | Chailease International | Consulting, aircraft leasing | 100.00 % | 100.00 % | 100.00 % | |
International | Company (UK) Limited | and investment | ||||
Company | ||||||
(Malaysia) | ||||||
Limited | ||||||
〞 | Chailease Berjaya Credit | Installment sales | 70.00 % | 70.00 % | 70.00 % | |
Sdn. Bhd. | ||||||
〞 | Chailease Royal Leasing | Leasing | 60.00 % | 60.00 % | 60.00 % | |
Plc. | ||||||
〞 | Chailease Royal Finance | Financing | 60.00 % | 60.00 % | 60.00 % | |
Plc. | ||||||
〞 | Chailease Berjaya | Leasing and financing | 75.00 % | 75.00 % | 68.08 % | |
Finance Corporation | ||||||
〞 | Chailease Capital | Investment | 49.00 % | 49.00 % | 49.00 % | |
(Thailand) Co., Ltd. | ||||||
〞 | Chailease Royal | Insurance brokers | 60.00 % | 60.00 % | 60.00 % | |
Insurance Broker Plc. | ||||||
Chailease | PT Chailease Finance | Financing | 85.00 % | 85.00 % | 85.00 % | |
International | Indonesia | |||||
Company | ||||||
(Hong Kong) | ||||||
Limited | ||||||
Chailease | Chailease Agency Sdn. | Insurance brokers | 100.00 % | 100.00 % | 100.00 % | |
Berjaya Credit | Bhd. | |||||
Sdn. Bhd. | ||||||
〞 | Chailease Services Sdn. | Insurance brokers | 100.00 % | 100.00 % | 100.00 % | |
Bhd. | ||||||
Chailease | Chailease Finance Co., | Installment sales, leasing, | 100.00 % | 100.00 % | 100.00 % | |
International | Ltd. | and factoring | ||||
Company (UK) | ||||||
Limited | ||||||
Chailease | Fina Finance & Trading | Installment sales, leasing, | 100.00 % | 100.00 % | 100.00 % | |
Finance Co., | Co., Ltd. | and factoring | ||||
Ltd. | ||||||
〞 | Chailease Specialty Finance Co., Ltd. | Installment sales | 100.00 % | 100.00 % | 100.00 % | |
Chailease | Asia Sermkij Leasing | Installment sales of | 57.91 % | 50.41 % | 50.41 % | |
International | Public Co., Ltd. | automobiles | ||||
Company | ||||||
(Malaysia) | ||||||
Limited、 | ||||||
Chailease | ||||||
Capital | ||||||
(Thailand) Co., | ||||||
Ltd. and | ||||||
Chailease | ||||||
Finance Co., | ||||||
Ltd. |
Primary Shareholding Ratio
Investor | Name of Subsidiary | Business | 2025.6.30 | 2024.12.31 | 2024.6.30 | Note | |
Chailease Finance Co., Ltd. | Chailease International Leasing Company Limited (Vietnam) | Leasing | 100.00 % | 100.00 % | 100.00 % | ||
〞 | Chailease International Trading Company Limited (Vietnam) | Trading | 100.00 % | 100.00 % | 100.00 % | ||
Chailease Finance Co., Ltd. and Fina Finance & Trading Co., Ltd. | Chailease Auto Rental Co., Ltd. | Leasing | 100.00 % | 100.00 % | 100.00 % | ||
Chailease Finance Co., Ltd. | Chailease Insurance Brokers Co., Ltd. | Personal and property insurance brokers | 100.00 % | 100.00 % | 100.00 % | ||
〞 | Chailease Cloud Service Co., Ltd. | Software and hardware of cloud products, leasing, and installment sales | 100.00 % | 100.00 % | 100.00 % | ||
〞 | Chailease Finance Securitization Trust 2021 | Special purpose entity | - % | - % | - % The subsidiary was established on April 15, 2022. (Note a) | ||
〞 | Yun Tang Inc. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | ||
〞 | Chailease Energy Integration Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | ||
〞 | Chailease Power Technology Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | ||
〞 | Chung Cheng Energy Integration Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | ||
〞 | Ho Lien Energy Integration Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | ||
〞 | Tai Yuan Energy Intergration Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | ||
〞 | Chung Ho Energy Integration Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | ||
〞 | Chung Yen Energy Integration Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | ||
〞 | Tung Feng Inc. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | ||
〞 | Chung Yu Energy Integration Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | ||
〞 | Chung Wei Energy Integration Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | ||
〞 | Tung Ching Energy Technology Inc. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | ||
〞 | WEIDA TECHNOLOGY CO., LTD. | Sales of machinery equipment | 100.00 % | - % | - % The subsidiary was established on April 14, 2025. | ||
Primary Shareholding Ratio
Investor | Name of Subsidiary | Business | 2025.6.30 | 2024.12.31 | 2024.6.30 | Note |
Chailease Auto Rental Co., Ltd. | He To Energy Integration Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
Chailease Power Technology Co., Ltd. | Chu Chiang Solar Energy Inc. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
Jung Yu Energy Integration Co., Ltd. | Chung Ming Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chung Yao Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Yao Jih Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Ho Hsuan Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Hsia Ching Co., Ltd | Solar power related business | 94.76 % | 94.76 % | 94.76 % | |
〞 | Kuang Hsi Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Ruo Chen Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Ruo Jing Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Ruo Tai Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Sheng Neng Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Jing Sheng Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chen Ying Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Jing Ying Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Tien Hsiao Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chu To Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Kuang Tai Energy Integration Co., Ltd. | Solar power related business | 40.00 % | 40.00 % | 100.00 % (Note d) | |
〞 | Hsu Li Energy Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Yun Yung Co., Ltd. | Solar power related business | 70.00 % | 95.00 % | 95.00 % | |
〞 | Annan Energy Co., Ltd. | Solar power related business | 90.00 % | 90.00 % | 90.00 % |
Investor | Name of Subsidiary | Primary Business | Shar 2025.6.30 | eholding Rat 2024.12.31 | io 2024.6.30 | Note |
Jung Yu Energy Integration Co., Ltd. | Chuang Neng Energy Integration Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Ho Ying Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Haosheng No. 3 Electric Co., Ltd. | Solar power related business | 65.00 % | 65.00 % | - % | Jung Yu Energy Integration Co., Ltd. invested in this subsidiary on October 11, 2024. (Note c) |
〞 | Chaoming Electric Co., Ltd. | Solar power related business | 65.00 % | 65.00 % | - % | Jung Yu Energy Integration Co., Ltd. invested in this subsidiary on October 11, 2024. (Note c) |
Chung Ho Energy Integration Co., Ltd. | Tien Hsing Integration Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Tien Chuan Intelligent Energy Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 80.00 % | |
〞 | Yu Heng Intelligent Energy Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 80.00 % | |
〞 | Kai Yang Intelligent Energy Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 80.00 % | |
〞 | Yao Kuang Intelligent Energy Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 80.00 % | |
Ho Lien Energy Integration Co., Ltd. | Tien Sin Intelligent Green Energy Co., Ltd. | Solar power related business | 80.00 % | 80.00 % | 80.00 % | |
〞 . | Tien Jen Energy Co., Ltd. | Solar power related business | 80.00 % | 80.00 % | 80.00 % | |
〞 . | Tien Chu Energy Co., Ltd | Solar power related business | 80.00 % | 80.00 % | 80.00 % | |
〞 | Tien Ying Energy Co., Ltd. | Solar power related business | 80.00 % | 80.00 % | 80.00 % | |
〞 . | Tien Jui Energy Co., Ltd. | Solar power related business | 80.00 % | 80.00 % | 80.00 % | |
He To Energy Co., Ltd. | Chin Cheng Hung Energy Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Hao Ming Energy Co., Ltd. | Solar power related business | 80.00 % | 80.00 % | 80.00 % | |
〞 | Jin Ti Energy Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
〞 | Hui Meng No. 1 Energy Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
Ho Hsuan Co., Ltd. | Chiu Chu Co., Ltd. | Solar power related business | 80.00 % | 80.00 % | 80.00 % | |
〞 | Chao Ming No.2 Energy Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
Primary Shareholding Ratio
Investor | Name of Subsidiary | Business | 2025.6.30 | 2024.12.31 | 2024.6.30 | Note |
Ho Hsuan Co., Ltd. | Hao Hsuan Energy Integration Co., Ltd. | Solar power related business | 80.00 % | 80.00 % | 80.00 % | |
Hsia Ching Co., Ltd. | CHUAN CHEN TECHNOLOGY INC. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
Tai Yuan Energy Integration Co., Ltd. | Cheng Yi Energy Integration Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
Chen Ying Co., Ltd. | Chi Lai Energy Co., Ltd. | Solar power related business | 100.00 % | - % | - % | Chen Ying Co., Ltd. invested in this subsidiary on June 27, 2025. |
Fina Finance & Trading Co., Ltd. | Chailease Consumer Finance Co., Ltd | Factoring, trading in, management, and valuation on accounts receivable; installment sales; financial instrument | 100.00 % | 100.00 % | 100.00 % | |
〞 | Chailease Credit Services Co., Ltd. | Installment sales and leasing | 100.00 % | 100.00 % | 100.00 % | |
Fina Finance & Trading Co., Ltd. and Chailease Auto Rental Co., Ltd. | CHAILEASE MOBILITY SERVICE CO., LTD. | Leasing | 100.00 % | 100.00 % | 100.00 % | |
Chailease Finance Co., Ltd., Fina Finance & Trading Co., Ltd. and Chailease Consumer Finance Co., Ltd. | Jung Yu Energy Integration Co., Ltd. | Solar power related business | 100.00 % | 100.00 % | 100.00 % | |
The Company and Chailease Finance Co., Ltd. | Grand Pacific Holdings Corp. | Financing leasing, real estate, and mortgage | 100.00 % | 100.00 % | 100.00 % | |
Chailease Consumer Finance Co., Ltd. and Chailease Credit Services Co., Ltd. | Chuang Ju Limited Partnership | Installment sales and leasing | 100.00 % | 100.00 % | 100.00 % | |
Chailease Specialty Finance Co., Ltd. and Chailease Cloud Service Co., Ltd. | Sing Chuang Limited Partnership | Installment sales and leasing | 100.00 % | 100.00 % | 100.00 % |
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