2024Q4 consolidated financial statements

Address: No.24, Gangshan N. Rd., Gangshan Dist., Kaohsiung City, Taiwan, R.O.C. Telephone: 886-7-621-3121

The reader is advised that these financial statements have been prepared originally in Chinese. In the event of a conflict between these financial statements and the original Chinese version or difference in interpretation between the two versions, the Chinese financial statements shall prevail.

The entities that are required to be included in the consolidated financial statements of affiliates in accordance with the "Criteria Governing Preparation of Affiliation Reports, Consolidated Business Reports and Consolidated Financial Statements of Affiliated Enterprises" for the year ended December 31, 2024 are all the same as those included in the consolidated financial statements of PANJIT International Inc. and its subsidiaries prepared in conformity with the International Financial Reporting Standard 10 "Consolidated Financial Statements". Relevant information that should be disclosed in the consolidated financial statements of affiliates is included in the consolidated financial statements of PANJIT International Inc. and its subsidiaries. Hence, we do not prepare a separate set of consolidated financial statements of affiliates.

Very truly yours,

PANJIT International Inc.

By

FANG, MING-CHING

Chairman

March 07 2025

To: PANJIT International Inc.

We have audited the accompanying consolidated balance sheets of PANJIT INTERNATIONAL INC. (the "Company") and its subsidiaries as of 31 December 2024 and 2023, and the related consolidated statements of comprehensive income, changes in equity and cash flows for the years ended 31 December 2024 and 2023, and notes to the consolidated financial statements, including the summary of significant accounting policies (together "the consolidated financial statements").

In our opinion, based on our audits and the reports of other independent accountants (please refer to the Other Matter - Making Reference to the Audits of Other Independent Accountants section of our report), the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of the Company and its subsidiaries as of 31 December 2024 and 2023, and their consolidated financial performance and cash flows for the years ended 31 December 2024 and 2023, in conformity with the requirements of the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Financial Reporting Standards, International Accounting Standards, Interpretations developed by the International Financial Reporting Interpretations Committee or the former Standing Interpretations Committee as endorsed and became effective by Financial Supervisory Commission of the Republic of China.

We conducted our audits in accordance with the Regulations Governing Auditing and Attestation of Financial Statements by 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 Company and its subsidiaries in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China (the "Norm"), and we have fulfilled our other ethical responsibilities in accordance with the Norm. Based on our audits and the reports of other auditors, we believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of 2024 consolidated financial statements. 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.

1. Revenue Recognition

   The consolidated operating revenues of the Company and its subsidiaries amounted to NT$12,536,212 thousand for the year ended 31 December 2024. The main source of revenue is manufacturing and selling Power Discrete. As the operation spanned globally and the product combination and pricing methods were diverse, judgment of the performance obligation and when it is satisfied was required. Therefore, we considered this a key audit matter.

   Our audit procedures included (but are not limited to) assessing the appropriateness of the accounting policy of revenue recognition; testing the design and operating effectiveness of internal controls around revenue recognition by management, including identifying completeness of performance obligation of client contracts and the accounting treatment of the timing of revenue recognition; performing analytical procedures on gross margin by products and departments; selecting samples to perform test of details and reviewing significant terms and conditions of contracts; performing cutoff procedures, testing general journal entry, reviewing sales transaction certificates before and after the balance sheet date to verify that revenue has been recorded in the correct accounting period. Accordingly, evaluating the appropriateness of significant sales returns and rebates. In addition, we also considered the appropriateness of the disclosures of sales. Please refer to Notes 4 and 6 to the Company's consolidated financial statements.

2. Evaluation of Inventories

As of 31 December 2024, the Company and its subsidiaries' net inventories amounted to NT$2,738,608 thousand, constituting 9% of consolidated total assets which was then identified as material to financial statement. The status of inventory was difficult to manage due to various types of stocks stored across various locations including outsourced warehouses. Such inventories are stated at the lower of cost and net realizable value. Evaluation involves management's significant accounting estimation and judgement, and the carrying amount of inventories is material to consolidated financial statements. Therefore we considered this a key audit matter.

Our audit procedures included (but are not limited to) assessing the appropriateness of the accounting policy of inventories evaluation; testing the design and operating effectiveness of internal controls around inventories by management, including assessing the transfer of inventory cost, selecting major warehouse to observe physical stock taking to verify inventory quantity and status; and assessing the management's estimates of net realizable value by inventories evaluation, and selecting samples to verify related certificates to test the correctness of inventories aging interval; review whether obsolescence loss allowance was sufficient according to policy and assess the appropriateness of the provision policy. We also assessed the adequacy of disclosures of inventories. Please refer to Notes 4, 5 and 6 to the Company's consolidated financial statements.

We did not audit the financial statements of certain investment accounted for under the equity method, which reflected the associates and joint ventures under equity method in the amount of NT$1,721,772 thousand and NT$1,567,662 thousand, constituting 6% and 5% of consolidated total assets as of 31 December 2024 and 2023, respectively. The related shares of profits from the associates and joint ventures under the equity method of NT$164,914 thousand and NT$107,503 thousand, constituting 13% and 9% of consolidated pretax income, and the related shares of other comprehensive income from the associates and joint ventures under the equity method of NT$29,392 thousand and (NT$9,948) thousand, constituting 8% and 32% of consolidated other comprehensive income for the year ended 31 December 2024 and 2023, respectively. Those financial statements were audited by other independent accountants, whose reports there on have been furnished to us, and our audit results are based solely on the reports of the other independent accountants.

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the requirements of the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Financial Reporting Standards, International Accounting Standards, Interpretations developed by the International Financial Reporting Interpretations Committee or the former Standing Interpretations Committee as endorsed and became effective by 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 ability to continue as a going concern of the Company and its subsidiaries, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company and its subsidiaries or to cease operations, or has no realistic alternative but to do so.

Those charged with governance, including audit committee, are responsible for overseeing the financial reporting process of the Company and its subsidiaries.

Our 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 Standards on Auditing of the Republic of China, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

1. 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.

2. 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 internal control of the Company and its subsidiaries.

3. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

4. 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 ability to continue as a going concern of the Company and its subsidiaries. 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 Company and its subsidiaries to cease to continue as a going concern.

5. Evaluate the overall presentation, structure and content of the consolidated financial statements, including the accompanying notes, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

6. Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Company and its subsidiaries to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

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 2024 consolidated financial statements and are therefore the key audit matters. We describe these matters in our auditor's 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.

We have audited and expressed an unqualified opinion including an Other Matter Paragraph on the parent company only financial statements of the Company as of and for the years ended 31 December 2024 and 2023.

Chen, Cheng-Chu

Fuh, Wen-Fun

Ernst & Young, Taiwan 7 March 2025

Notice to Readers

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

Accordingly, the accompanying consolidated financial statements and report of independent auditors are not intended for use by those who are not informed about the accounting principles or Standards on Auditing of Republic of China, and their applications in practice.

English Translation of Consolidated Financial Statements Originally Issued in Chinese PANJIT INTERNATIONAL INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

31 December, 2024 and 2023 (Expressed in Thousand of New Taiwan Dollars)

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

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

English Translation of Consolidated Financial Statements Originally Issued in Chinese PANJIT INTERNATIONAL INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

For the years ended 31 December, 2024 and 2023 (Expressed in Thousand of New Taiwan Dollars)

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

~10~

English Translation of Consolidated Financial Statements Originally Issued in Chinese PANJIT INTERNATIONAL INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS

For the years ended 31 December, 2024 and 2023 (Expressed in Thousand of New Taiwan Dollars)

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

~11~

English Translation of Financial Statements Originally Issued in Chinese PANJIT INTERNATIONAL INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED 31 DECEMBER 2024 AND 2023

(Expressed in Thousands of New Taiwan Dollars unless Otherwise Specified)

1. History and organization

   PANJIT INTERNATIONAL INC. (the Company) was incorporated on 20 May 1986, under the Company Act of the Republic of China on Taiwan. The Company's registered address is No. 24, Gangshan N. Rd., Gangshan Dist., Kaohsiung City. The principal activities of the Company are to manufacture, process, assemble and to import and export semiconductors. The Company also assembles, trades and transfers technological advancements of machinery parts. The Company also trades resins and paints for semiconductors.

   The Company's stock was officially listed for trading on the OTC market on December 22, 1999, and then listed on the Taiwan Stock Exchange on September 17, 2001.

2. Date and procedures of authorization of financial statements for issue

   The consolidated financial statements of the Company and its subsidiaries ("the Group") for the years ended 31 December 2024 and 2023 were authorized for issue by the Board of Directors on 7 March 2025.

3. Newly issued or revised standards and interpretations

   1. Changes in accounting policies resulting from applying for the first time certain standards and amendments

      The Group applied for the first time International Financial Reporting Standards, International Accounting Standards, and Interpretations issued, revised or amended which are recognized by Financial Supervisory Commission ("FSC") and become effective for annual periods beginning on or after 1 January 2024. The adoption of these new standards and amendments had no material impact on the Group.

   2. Standards or interpretations issued, revised or amended, by International Accounting Standards Board ("IASB") which are endorsed by FSC, and not yet adopted by the Group as at the end of the reporting period are listed below.

      Items	New, Revised or Amended Standards and Interpretations	Effective Date issued by IASB
      a	Lack of Exchangeability -Amendments to IAS 21	January 1, 2025

      1. Lack of Exchangeability -Amendments to IAS 21

         These amendments specify whether a currency is exchangeable into another currency and, when it is not, to determining the exchange rate to use and the disclosures to provide.

         The amendments apply for annual reporting periods beginning on or after January 1, 2025 and have no significant impact on the Group's assessment.

   3. Standards or interpretations issued, revised or amended, by IASB which are not endorsed by FSC, and not yet adopted by the Group as at the end of the reporting period are listed below:

      Items	New, Revised or Amended Standards and Interpretations	Effective Date issued by IASB
      a	IFRS 10 "Consolidated Financial Statements" and IAS 28 " Investments in Associates and Joint Ventures" - Sale or Contribution of Assets between an Investor and its Associate or joint ventures	To be determined by IASB
      b	IFRS 17 "Insurance Contracts"	January 1, 2023
      c	IFRS 18 "Presentation and Disclosure in Financial Statements"	January 1, 2027
      d	IFRS 19 "Disclosure Initiative - Subsidiaries without Public Accountability: Disclosures"	January 1, 2027
      e	Amendments to IFRS 9 "Financial Instruments" and IFRS 7 "Financial Instruments: Disclosures" - Amendments to the Classification and Measurement of Financial Instruments	January 1, 2026
      f	Annual Improvements to IFRS Accounting Standards - Volume 11	January 1, 2026
      g	Contracts Referencing Nature-dependent Electricity- Amendments to IFRS 9 "Financial Instruments" and IFRS 7 "Financial Instruments: Disclosures"	January 1, 2026

      1. Amendments to IFRS 10 "Consolidated Financial Statements" and IAS 28 "Investments in Associates and Joint Ventures" - Sale or investment of assets between investors and their associates or joint ventures

         The amendments address the inconsistency between the requirements in IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures, in dealing with the loss of control of a subsidiary that is contributed to an associate or a joint venture. IAS 28 restricts gains and losses arising from contributions of non-monetary assets to an associate or a joint venture to the extent of the interest attributable to the other equity holders in the associate or joint ventures. IFRS 10 requires full profit or loss recognition on the loss of control of the subsidiary. IAS 28 was amended so that the gain or loss resulting from the sale or contribution of assets that constitute a business as defined in IFRS 3 between an investor and its associate or joint venture is recognized in full.

         IFRS 10 was also amended so that the gains or loss resulting from the sale or contribution of a subsidiary that does not constitute a business as defined in IFRS 3 between an investor and its associate or joint venture is recognized only to the extent of the unrelated investors' interests in the associate or joint venture.

      2. IFRS 17 "Insurance Contracts"

         IFRS 17 provides a comprehensive model for insurance contracts, covering all relevant accounting aspects (including recognition, measurement, presentation, and disclosure requirements). The core of IFRS 17 is the General (building block) Model, under this model, on initial recognition, an entity shall measure a group of insurance contracts at the total of the fulfilment cash flows and the contractual service margin. The carrying amount of a group of insurance contracts at the end of each reporting period shall be the sum of the liability for remaining coverage and the liability for incurred claims.

         Other than the General Model, the standard also provides a specific adaptation for contracts with direct participation features (the Variable Fee Approach) and a simplified approach (Premium Allocation Approach) mainly for short-duration contracts.

         IFRS 17 was issued in May 2017 and it was amended in 2020 and 2021. The amendments include deferral of the date of initial application of IFRS 17 by two years to annual beginning on or after January 1, 2023 (from the original effective date of January 1, 2021), provide additional transition reliefs, simplify some requirements to reduce the costs of applying IFRS 17 and revise some requirements to make the results easier to explain. IFRS 17 replaces an interim Standard - IFRS 4 Insurance Contracts - from annual reporting periods beginning on or after January 1, 2023.

      3. IFRS 18 "Presentation and Disclosure in Financial Statements"

         IFRS 18 replaces IAS 1 "Presentation of Financial Statements". The main changes in the new standard are as below:

         1. Improved comparability in the statement of profit or loss (income statement)

            IFRS 18 requires entities to classify all income and expenses within their statement of profit or loss into one of five categories: operating; investing; financing; income taxes; and discontinued operations. The first three categories are new, to improve the structure of the income statement, and requires all entities to provide new defined subtotals, including operating profit or loss. The improved structure and new subtotals will give investors a consistent starting point for analyzing entities' performance and make it easier to compare entities.

         2. Enhanced transparency of management-defined performance measures

            IFRS 18 requires entities to disclose explanations of those entity-specific measures that are related to the income statement, referred to as management-defined performance measures.

         3. Useful grouping of information in the financial statements

            IFRS 18 sets out enhanced guidance on how to organize information and whether to provide it in the primary financial statements or in the notes. The changes are expected to provide more detailed and useful information. IFRS 18 also requires entities to provide more transparency about operating expenses, helping investors to find and understand the information they need.

      4. IFRS 19 "Disclosure Initiative - Subsidiaries without Public Accountability: Disclosures"

         This standard permits subsidiaries without public accountability to provide reduced disclosures when applying IFRS Accounting Standards in their financial statements. IFRS 19 is optional for subsidiaries that are eligible and sets out the disclosure requirements for subsidiaries that elect to apply it.

      5. Amendments to IFRS 9 "Financial Instruments" (IFRS 9) and IFRS 7 "Financial Instruments: Disclosures" (IFRS 7) - Amendments to the Classification and Measurement of Financial Instruments

         The amendments include:

         1. Clarify that a financial liability is derecognized on the settlement date and describe the accounting treatment for settlement of financial liabilities using an electronic payment system before the settlement date.

         2. Clarify how to assess the contractual cash flow characteristics of financial assets that include environmental, social and governance (ESG)-linked features and other similar contingent features.

         3. Clarify the treatment of non-recourse assets and contractually linked instruments.

         4. Require additional disclosures in IFRS 7 for financial assets and liabilities with contractual terms that reference a contingent event (including those that are ESG-linked), and equity instruments classified at fair value through other comprehensive income.

      6. Annual Improvements to IFRS Accounting Standards - Volume 11

         1. Amendments to IFRS 1

         2. Amendments to IFRS 7

         3. Amendments to IFRS 7 of Implementation guidance

         4. Amendments to IFRS 9

         5. Amendments to IFRS 10

         6. Amendments to IAS 7

      7. Amendments to IFRS 9 "Financial Instruments" (IFRS 9) and IFRS 7 "Financial Instruments: Disclosures" (IFRS 7) - Contracts Referencing Nature-dependent Electricity

         The amendments include:

         1. Clarify the application of the "own-use" requirements.

         2. Permit hedge accounting if these contracts are used as hedging instruments.

         3. Add new disclosure requirements to enable investors to understand the effect of these contracts on a company's financial performance and cash flows.

            The abovementioned standards and interpretations issued by IASB have not yet endorsed by FSC at the date when the Group's financial statements were authorized for issue, and the local effective dates are to be determined by FSC. As the Group is still currently determining the potential impact of the standards and interpretations listed under (c), it is not practicable to estimate their impact on the Group at this point in time. The remaining new or amended standards and interpretations have no material impact on the Group.

4. Summary of significant accounting policies

   1. Statement of Compliance

      The consolidated financial statements of the Group for the years ended 31 December 2024 and 2023 have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers ("the Regulations"), IFRSs, IASs, IFRIC and SIC, which are endorsed by FSC (TIFRSs).

   2. Basis of Preparation

      The consolidated financial statements have been prepared on a historical cost basis, except for financial instruments that have been measured at fair value. The consolidated financial statements are expressed in thousands of New Taiwan Dollars ("$") unless otherwise stated.

   3. Basis of consolidation

      Preparation principle of consolidated financial statements

      Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if and only if the Group has:

      1. power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee)

      2. exposure, or rights, to variable returns from its involvement with the investee, and

      3. the ability to use its power over the investee to affect its returns

         When the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including:

         1. the contractual arrangement with the other vote holders of the investee

         2. rights arising from other contractual arrangements

         3. the Group's voting rights and potential voting rights

         The Group re−assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control.

         Subsidiaries are fully consolidated from the acquisition date, being the date on which the Company obtains control, and continue to be consolidated until the date that such control ceases. The financial statements of the subsidiaries are prepared for the same reporting period as the parent company, using uniform accounting policies. All intra-group balances, income and expenses, unrealized gains and losses and dividends resulting from intra-group transactions are eliminated in full.

         A change in the ownership interest of a subsidiary, without a change of control, is accounted for as an equity transaction.

         Total comprehensive income of the subsidiaries is attributed to the owners of the parent and to the non-controlling interests even if this results in the non-controlling interests having a deficit balance.

         If the Company loses control of a subsidiary, it:

         1. derecognizes the assets (including goodwill) and liabilities of the subsidiary;

         2. derecognizes the carrying amount of any non-controlling interest;

         3. recognizes the fair value of the consideration received;

         4. recognizes the fair value of any investment retained;

         5. recognizes any surplus or deficit in profit or loss; and

         6. reclassifies the parent's share of components previously recognized in other comprehensive income to profit or loss.

         The consolidated entities are listed as follows:

         Percentage of ownership

         (%)

         Investor Subsidiary Main businesses 31 Dec. 2024 31 Dec. 2023

         The Company PAN−JIT ASIA INTERNATIONAL INC.

         Investment holding 100.00% 100.00%

         The Company Pynmax Technology Co., Ltd.

         Manufacture of electronic components and international trade business

         94.64% 94.64%

         The Company AIDE ENERGY EUROPE

         COӦPERATIE U.A.

         Investment holding 100.00% 100.00%

         The Company Champion

         Microelectronic Corp. ("CMC")

         Research and development, design and manufacture and technology consultation of power IC, field effect transistors and fast recovery diodes, international trade

         30.68%

         (Note 3)

         30.00%

         The Company PANJIT JAPAN Inc. Sale of electronic products 55.00%

         (Note 4)

         50.00%

         Percentage of ownership

         (%)

         Investor		Subsidiary		Main businesses		31 Dec. 2024		31 Dec. 2023
         The Company		PAN−JIT INTERNATIONAL (H.K.) LTD.		Sale of electronic products		100.00%		100.00%
         The Company		PANSTAR		Manufacture of electronic		−		50.00%
         		SEMICONDUCTOR		components and international		(Note 5)
         The Company		CO., LTD. PAN JIT KOREA		trade business Sale of electronic products		60.00%		−
         The Company		CO., LTD. PANJIT Investment		Investment holding		(Note 2) 100.00%		−
         		Co., Ltd.				(Note 8)
         PAN−JIT ASIA		PAN JIT EUROPE		Sale of electronic products		100.00%		100.00%
         INTERNATIONAL		GMBH
         INC.
         PAN−JIT ASIA		PAN JIT AMERICAS,		Sale of electronic products		95.86%		95.86%
         INTERNATIONAL		INC.
         INC.
         PAN−JIT ASIA		Pan Jit Electronics		Manufacture and process of		100.00%		100.00%
         INTERNATIONAL		(Wuxi) Co., Ltd.		rectifier		(Note 1)		(Note 1)
         INC.
         PAN−JIT ASIA		CONTINENTAL		Investment holding		100.00%		100.00%
         INTERNATIONAL		LIMITED
         INC.
         PAN−JIT ASIA		DYNAMIC TECH		Investment holding		−		100.00%
         INTERNATIONAL		GROUP LIMITED				(Note 1,9)		(Note 1)
         INC.
         PAN−JIT ASIA		PAN JIT KOREA		Sale of electronic products		−		60.00%
         INTERNATIONAL		CO., LTD.				(Note 2)
         INC.
         PAN−JIT ASIA		AIDE ENERGY		Investment holding and sale of		94.43%		94.43%
         INTERNATIONAL		(CAYMAN)		photovoltaic products
         INC.		HOLDING CO., LTD.
         PANJIT ASIA		MAX-DIODE		New types of electronics		100.00%		−
         INTERNATIONAL		ELECTRONIC.,		components and semiconductor		(Note 7)
         INC.		LTD.(SHENZHEN)		controlled rectifier sales
         Pynmax Technology		JOYSTAR		Investment holding		100.00%		100.00%
         Co., Ltd.		INTERNATIONAL
         		CO., LTD.
         DYNAMIC TECH		MAX−DIODE		New types of electronics		−		100.00%
         GROUP LIMITED		ELECTRONIC.,		components and semiconductor		(Note 7)

         LTD.(SHENZHEN)

         controlled rectifier sales

         Percentage of ownership

         (%)

         Investor		Subsidiary		Main businesses		31 Dec. 2024		31 Dec. 2023
         CONTINENTAL		Suzhou Grande		Chip diodes, transistors and other		100.00%		100.00%
         LIMITED		Electronics Co. Ltd.		new electronic semiconductor
         				components and related products,
         				sales of products and provide
         				technical and after-sales service
         Pan Jit Electronics (Wuxi) Co., Ltd.		PANJIT ELECTRONIC (BEIJING) CO., LTD		New types of electronic components, Semiconductor		100.00%		100.00%
         				controlled rectifier sales
         Pan Jit Electronics (Wuxi) CO., LTD		PANJIT ELECTRONICS (SHANDONG) CO.,		Manufacture semiconductor wafer for automobile, protection of		70.28%		70.28%
         		LTD.		discrete devices, integrated circuit
         				chip packaged product
         Pan Jit Electronics (Wuxi) CO., LTD		PANJIT ELECTRONIC (QUFU) CO., LTD.		New types of electronic components, Semiconductor		100.00%		100.00%
         				controlled rectifier sales
         Pan Jit Electronics		PANJIT		New types of electronic components,		100.00%		100.00%
         (Wuxi) CO., LTD		Semiconductor		Semiconductor controlled rectifier
         		(Xuzhou) Co., Ltd.		sales
         AIDE ENERGY		JIANGSU AIDE		Solar photovoltaic product		100.00%		100.00%
         (CAYMAN)		SOLAR ENERGY		development, manufacturing,
         HOLDING CO., LTD.		TECHNOLOGY CO.,		sales, self-agency of goods and
         		LTD.		technology import and export
         				business
         AIDE ENEREGY		AIDE ENERGY		Investment holding and sales		100.00%		100.00%
         EUROPE		EUROPE B.V.
         COӦPERATIE U.A.
         AIDE ENERGY		EC SOLAR C1 SRL		Solar power generation and sales		100.00%		100.00%
         EUROPE B.V.				of electricity
         Champion		Wisdom Bright Inc.		Investment holding		100.00%		100.00%
         Microelectronic Corp.
         Champion		Wisdom Mega Corp.		Investment holding		100.00%		100.00%
         Microelectronic Corp.
         Champion		PANJIT JAPAN Inc.		Sale of electronic products		10.00%		10.00%
         Microelectronic Corp.
         Champion		Golden Champion		Manufacture of electronic		100.00%		100.00%
         Microelectronic Corp.		Digital Power		components and Product design
         		Corporation
         Wisdom Bright Inc.		Wisdom Toprich		Investment holding		100.00%		100.00%
         		Technology Limited
         Wisdom Toprich		Great Power		Electronic products		100.00%		100.00%
         Technology Limited		Microelectronics Corp.		development, product import,
         				export, and wholesale business

         Percentage of ownership

         (%)

         Investor Subsidiary Main businesses 31 Dec. 2024 31 Dec. 2023

         PANJIT Investment Co., Ltd.

         PANSTAR SEMICONDUCTOR CO., LTD.

         Manufacture of electronic components and international trade business

         33.33% −

         (Note 5)

         PANJIT Investment Co., Ltd.

         MetaWeIIs Co., Ltd. Manufacture of electronic

         components and international trade business

         68.00% −

         (Note 6)

         (Note 1)： PAN−JIT ASIA INTERNATIONAL INC. owned 100.00% of the shares with other subsidiaries, which are consolidated into the Company's financial statements.

         (Note 2)： The company acquired 60% equity of PAN JIT KOREA CO., LTD.from PAN−JIT ASIA INTERNATIONAL INC. in April 2024.

         (Note 3)： The Company acquired the share of CMC. which increased the percentage of ownership interests from 30% to 30.68% in June, July, and August 2024.

         (Note 4)： The Company acquired the 5% shares of PANJIT JAPAN Inc. from its associated enterprises, MILDEX OPTICAL INC. which increased the percentage of ownership interests from 50% to 55% in June 2024.

         (Note 5)： PANSTAR SEMICONDUCTOR CO., LTD. increased its capital in May 2024, and the Company's shareholding ratio was decreased from 50% to 33.33%. PANJIT Investment Co., Ltd. acquired 33.33% equity of PANSTAR SEMICONDUCTOR CO., LTD. from the Company in September 2024.

         (Note 6)： The Company established MetaWeIIs Co., Ltd. in April 2024. PANJIT Investment Co., Ltd. acquired 100.00% equity of MetaWeIIs Co., Ltd. from the Company in September 2024. MetaWeIIs Co., Ltd. increased its capital in December 2024, and PANJIT Investment Co., Ltd.'s shareholding ratio was decreased from 100% to 68%.

         (Note 7)： PAN−JIT ASIA INTERNATIONAL INC. acquired 100% equity of MAX-DIODE ELECTRONIC., LTD.(SHENZHEN) from DYNAMIC TECH GROUP LIMITED in May 2024.

         (Note 8)： The Company established PANJIT Investment Co., Ltd. in August 2024.

         (Note 9)： DYNAMIC TECH GROUP LIMITED has completed its dissolution and liquidation in August 2024.

   4. Foreign currency transactions

      The Group's consolidated financial statements are presented in NT$, which is also the parent company's functional currency. Each entity in the Group determines its own functional currency and items included in the financial statements of each entity are measured using that functional currency.

      Transactions in foreign currencies are initially recorded by the Group entities at their respective functional currency rates prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the functional currency closing rate of exchange ruling at the reporting date. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. Non-monetary items that are measured at historical cost in a foreign currency are translated using the exchange rates as at the dates of the initial transactions.

      All exchange differences arising on the settlement of monetary items or on translating monetary items are taken to profit or loss in the period in which they arise except for the following:

      1. Exchange differences arising from foreign currency borrowings for an acquisition of a qualifying asset to the extent that they are regarded as an adjustment to interest costs are included in the borrowing costs that are eligible for capitalization.

      2. Foreign currency items within the scope of IFRS 9 Financial Instruments are accounted for based on the accounting policy for financial instruments.

      3. Exchange differences arising on a monetary item that forms part of a reporting entity's net investment in a foreign operation is recognized initially in other comprehensive income and reclassified from equity to profit or loss on disposal of the net investment.

         When a gain or loss on a non-monetary item is recognized in other comprehensive income, any exchange component of that gain or loss is recognized in other comprehensive income. When a gain or loss on a non-monetary item is recognized in profit or loss, any exchange component of that gain or loss is recognized in profit or loss.

   5. Translation of financial statements in foreign currency

      The assets and liabilities of foreign operations are translated into NT$ at the closing rate of exchange prevailing at the reporting date and their income and expenses are translated at an average rate for the period. The exchange differences arising on the translation are recognized in other comprehensive income. On the disposal of a foreign operation, the cumulative amount of the exchange differences relating to that foreign operation, recognized in other comprehensive income and accumulated in the separate component of equity, is reclassified from equity to profit or loss when the gain or loss on disposal is recognized. The following partial disposals are accounted for as disposals:

      1. when the partial disposal involves the loss of control of a subsidiary that includes a foreign operation; and

      2. when the retained interest after the partial disposal of an interest in a joint arrangement or a partial disposal of an interest in an associate that includes a foreign operation is a financial asset that includes a foreign operation.

         On the partial disposal of a subsidiary that includes a foreign operation that does not result in a loss of control, the proportionate share of the cumulative amount of the exchange differences recognized in other comprehensive income is re-attributed to the non-controlling interests in that foreign operation. In partial disposal of an associate or joint arrangement that includes a foreign operation that does not result in a loss of significant influence or joint control, only the proportionate share of the cumulative amount of the exchange differences recognized in other comprehensive income is reclassified to profit or loss.

         Any goodwill and any fair value adjustments to the carrying amounts of assets and liabilities arising on the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and expressed in its functional currency.

   6. Current and non-current distinction An asset is classified as current when:

      1. The Group expects to realize the asset, or intends to sell or consume it, in its normal operating cycle

      2. The Group holds the asset primarily for the purpose of trading

      3. The Group expects to realize the asset within twelve months after the reporting period

      4. The asset is cash or cash equivalent unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

         All other assets are classified as non-current. A liability is classified as current when:

         1. The Group expects to settle the liability in its normal operating cycle

         2. The Group holds the liability primarily for the purpose of trading

         3. The liability is due to be settled within twelve months after the reporting period

         4. The Company does not have the right at the end of the reporting period to defer settlement of the liability for at least twelve months after the reporting period.

         All other liabilities are classified as non-current.

   7. Cash and cash equivalents

      Cash and cash equivalents comprises cash on hand, demand deposits and short-term, highly liquid time deposits or investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

   8. Financial instruments

      Financial assets and financial liabilities are recognized when the Group becomes a party to the contractual provisions of the instrument.

      Financial assets and financial liabilities within the scope of IFRS 9 Financial Instruments are recognized initially at fair value plus or minus, in the case of investments not at fair value through profit or loss, directly attributable transaction costs.

      1. Financial instruments: Recognition and Measurement

         The Group accounts for regular way purchase or sales of financial assets on the trade date.

         The Group classified financial assets as subsequently measured at amortized cost, fair value through other comprehensive income or fair value through profit or loss considering both factors below:

         1. the Group's business model for managing the financial assets and

         2. the contractual cash flow characteristics of the financial asset.

            Financial asset measured at amortized cost

            A financial asset is measured at amortized cost if both of the following conditions are met and presented as note receivables, accounts receivables financial assets measured at amortized cost and other receivables etc., on balance sheet as at the reporting date:

            1. the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and

            2. the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

               Such financial assets are subsequently measured at amortized cost (the amount at which the financial asset is measured at initial recognition minus the principal repayments, plus or minus the cumulative amortization using the effective interest method of any difference between the initial amount and the maturity amount and adjusted for any loss allowance) and is not part of a hedging relationship. A gain or loss is recognized in profit or loss when the financial asset is derecognized, through the amortization process or in order to recognize the impairment gains or losses.

               Interest revenue is calculated by using the effective interest method. This is calculated by applying the effective interest rate to the gross carrying amount of a financial asset except for:

               1. purchased or originated credit-impaired financial assets. For those financial assets, the Group applies the credit-adjusted effective interest rate to the amortized cost of the financial asset from initial recognition.

               2. financial assets that are not purchased or originated credit-impaired financial assets but subsequently have become credit-impaired financial assets. For those financial assets, the Group applies the effective interest rate to the amortized cost of the financial asset in subsequent reporting periods.

               Financial asset measured at fair value through other comprehensive income

               A financial asset is measured at fair value through other comprehensive income if both of the following conditions are met:

               1. the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and

               2. the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

               Recognition of gain or loss on a financial asset measured at fair value through other comprehensive income are described as below:

               1. A gain or loss on a financial asset measured at fair value through other comprehensive income recognized in other comprehensive income, except for impairment gains or losses and foreign exchange gains and losses, until the financial asset is derecognized or reclassified.

               2. When the financial asset is derecognized the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss as a reclassification adjustment.

               3. Interest revenue is calculated by using the effective interest method. This is calculated by applying the effective interest rate to the gross carrying amount of a financial asset except for:

                  1. Purchased or originated credit-impaired financial assets. For those financial assets, the Group applies the credit-adjusted effective interest rate to the amortized cost of the financial asset from initial recognition.

                  2. Financial assets that are not purchased or originated credit-impaired financial assets but subsequently have become credit-impaired financial assets. For those financial assets, the Group applies the effective interest rate to the amortized cost of the financial asset in subsequent reporting periods.

               Besides, for certain equity investments within the scope of IFRS 9 that is neither held for trading nor contingent consideration recognized by an acquirer in a business combination to which IFRS 3 applies, the Group made an irrevocable election to present the changes of the fair value in other comprehensive income at initial recognition. Amounts presented in other comprehensive income shall not be subsequently transferred to profit or loss (when disposal of such equity instrument, its cumulated amount included in other components of equity is transferred directly to the retained earnings) and these investments should be presented as financial assets measured at fair value through other comprehensive income on the balance sheet. Dividends on such investment are recognized in profit or loss unless the dividends clearly represent a recovery of part of the cost of investment.

               Financial asset measured at fair value through profit or loss

               Financial assets were classified as measured at amortized cost or measured at fair value through other comprehensive income based on aforementioned criteria. All other financial assets were measured at fair value through profit or loss and presented on the balance sheet as financial assets measured at fair value through profit or loss.

               Such financial assets are measured at fair value, the gains or losses resulting from remeasurement is recognized in profit or loss which includes any dividend or interest received on such financial assets.

      2. Impairment of financial assets

         The Group recognizes a loss allowance for expected credit losses on debt instrument investments measured at fair value through other comprehensive income and financial asset measured at amortized cost. The loss allowance on debt instrument investments measured at fair value through other comprehensive income is recognized in other comprehensive income and not reduce the carrying amount in the balance sheet.

         The Group measures expected credit losses of a financial instrument in a way that reflects:

         1. an unbiased and probability-weighted amount that is determined by evaluating a range of possible outcomes;

         2. the time value of money; and

         3. reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic conditions.

            The loss allowance is measures as follows:

            1. At an amount equal to 12-month expected credit losses: the credit risk on a financial asset has not increased significantly since initial recognition or the financial asset is determined to have low credit risk at the reporting date. In addition, the Group measures the loss allowance at an amount equal to lifetime expected credit losses in the previous reporting period, but determines at the current reporting date that the credit risk on a financial asset has increased significantly since initial recognition is no longer met.

            2. At an amount equal to the lifetime expected credit losses: the credit risk on a financial asset has increased significantly since initial recognition or financial asset that is purchased or originated credit-impaired financial asset.

            3. For trade receivables or contract assets arising from transactions within the scope of IFRS 15, the Group measures the loss allowance at an amount equal to lifetime expected credit losses.

            4. For lease receivables arising from transactions within the scope of IFRS 16, the Group measures the loss allowance at an amount equal to lifetime expected credit losses.

            At each reporting date, the Group needs to assess whether the credit risk on a financial asset has increased significantly since initial recognition by comparing the risk of a default occurring at the reporting date and the risk of default occurring at initial recognition. Please refer to Note 12 for further details on credit risk.

      3. Derecognition of financial assets

         A financial asset is derecognized when:

         1. The rights to receive cash flows from the asset have expired

         2. The Group has transferred the asset and substantially all the risks and rewards of the asset have been transferred

         3. The Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

         On derecognition of a financial asset in its entirety, the difference between the carrying amount and the consideration received or receivable including any cumulative gain or loss that had been recognized in other comprehensive income, is recognized in profit or loss.

      4. Financial liabilities and equity Classification between liabilities or equity

         The Group classifies the instrument issued as a financial liability or an equity instrument in accordance with the substance of the contractual arrangement and the definitions of a financial liability, and an equity instrument.

         Equity Instruments

         An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. The transaction costs of an equity transaction are accounted for as a deduction from equity (net of any related income tax benefit) to the extent they are incremental costs directly attributable to the equity transaction that otherwise would have been avoided.

         Compound instruments

         The Group evaluates the terms of the convertible bonds issued to determine whether it contains both a liability and an equity component. Furthermore, the Group assesses if the economic characteristics and risks of the put and call options contained in the convertible bonds are closely related to the economic characteristics and risk of the host contract before separating the equity element.

         For the liability component excluding the derivatives, its fair value is determined based on the rate of interest applied at that time by the market to instruments of comparable credit status. The liability component is classified as a financial liability measured at amortized cost before the instrument is converted or settled. For the embedded derivative that is not closely related to the host contract (for example, if the exercise price of the embedded call or put option is not approximately equal on each exercise date to the amortized cost of the host debt instrument), it is classified as a liability component and subsequently measured at fair value through profit or loss unless it qualifies for an equity component. The equity component is assigned the residual amount after deducting from the fair value of the instrument as a whole the amount separately determined for the liability component. Its carrying amount is not remeasured in the subsequent accounting periods. If the convertible bond issued does not have an equity component, it is accounted for as a hybrid instrument in accordance with the requirements under IFRS 9 Financial Instruments.

         Transaction costs are apportioned between the liability and equity components of the convertible bond based on the allocation of proceeds to the liability and equity components when the instruments are initially recognized.

         On conversion of a convertible bond before maturity, the carrying amount of the liability component being the amortized cost at the date of conversion is transferred to equity.

         Financial liabilities

         Financial liabilities within the scope of IFRS 9 Financial Instruments are classified as financial liabilities at fair value through profit or loss or financial liabilities measured at amortized cost upon initial recognition.

         Financial liabilities at fair value through profit or loss

         Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss.

         A financial liability is classified as held for trading if:

         1. it is acquired or incurred principally for the purpose of selling or repurchasing it in the near term;

         2. on initial recognition it is part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking; or

         3. it is a derivative (except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument).

         If a contract contains one or more embedded derivatives, the entire hybrid (combined) contract may be designated as a financial liability at fair value through profit or loss; or a financial liability may be designated as at fair value through profit or loss when doing so results in more relevant information, because either:

         1. it eliminates or significantly reduces a measurement or recognition inconsistency; or

         2. a group of financial liabilities or financial assets and financial liabilities is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy, and information about the group is provided internally on that basis to the key management personnel.

         Gains or losses on the subsequent measurement of liabilities at fair value through profit or loss including interest paid are recognized in profit or loss.

         Financial liabilities at amortized cost

         Financial liabilities measured at amortized cost include interest bearing loans and borrowings that are subsequently measured using the effective interest rate method after initial recognition. Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as through the effective interest rate method amortization process.

         Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or transaction costs.

         Derecognition of financial liabilities

         A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires.

         When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified (whether or not attributable to the financial difficulty of the debtor), such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognized in profit or loss.

      5. Offsetting of financial instruments

      Financial assets and financial liabilities are offset and the net amount reported in the balance sheet if, and only if, there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, or to realize the assets and settle the liabilities simultaneously.

   9. Derivative instrument

      The Group uses derivative instruments to hedge its foreign currency risks and interest rate risks. A derivative is classified in the balance sheet as financial assets or liabilities at fair value through profit or loss (held for trading) except for derivatives that are designated effective hedging instruments which are classified as derivative financial assets or liabilities for hedging.

      Derivative instruments are initially recognized at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. The changes in fair value of derivatives are taken directly to profit or loss, except for the effective portion of hedges, which is recognized in either profit or loss or equity according to types of hedges used.

      When the host contracts are either non-financial assets or liabilities, derivatives embedded in host contracts are accounted for as separate derivatives and recorded at fair value if their economic characteristics and risks are not closely related to those of the host contracts and the host contracts are not held for trading or designated at fair value though profit or loss. These embedded derivatives are separated from the host contract and accounted for as a derivative.

   10. Fair value measurement

       Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

       1. In the principal market for the asset or liability, or

       2. In the absence of a principal market, in the most advantageous market for the asset or liability The principal or the most advantageous market must be accessible to by the Group.

          The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants in their economic best interest.

          A fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

          The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

   11. Inventories

       Inventories are valued at lower of cost and net realizable value item by item.

       Costs incurred in bringing each inventory to its present location and condition are accounted for as follows:

       Raw materials -Purchase cost on weighted average cost basis

       Finished goods and work in progress - Cost of direct materials, labor and a proportion of

       manufacturing overheads based on normal operating capacity but excluding borrowing costs.

       Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale.

       Rendering of services is accounted in accordance with IFRS 15 and not within the scope of inventories.

   12. Non-current assets held for sale and discontinued operations

Non-current assets and disposal groups are classified as held for sale if their carrying amounts will be recovered through a sale transaction that is highly probable within one year from the date of classification and the asset or disposal group is available for immediate sale in its present condition. Non-current assets and disposal the groups classified as held for sale are measured at the lower of their carrying amount and fair value less costs to sell.

In the consolidated statement of comprehensive income of the reporting period, and of the comparable period of the previous year, income and expenses from discontinued operations are reported separately from income and expenses from continuing operations, down to the level of profit after taxes, even when the Group retains a non-controlling interest in the subsidiary after the sale. The resulting profit or loss (after taxes) is reported separately in the statement of comprehensive income.

Property, plant and equipment and intangible assets once classified as held for sale are not depreciated or amortized.