1Q25 Consolidated Financial Statements

Walsin Lihwa Corporation and Subsidiaries

Consolidated Financial Statements for the

Three Months Ended March 31, 2025 and 2024 and Independent Auditors' Review Report

Deloitte & Touche

20F, Taipei Nan Shan Plaza No. 100, Songren Rd"

Xinyi Dist., Taipei 1 1 0016, Taiwan

Tel :+886 (2) 2725-9988

Fax:+886 (2) 4051 -6888

https://www.deloitte.com.tw

The Board of Directors and Shareholders Walsin Lihwa Corporation

We have reviewed the accompanying consolidated balance sheets of Walsin Lihwa Corporation and its subsidiaries (collectively, the "Group") as of March 31, 2025 and 2024, and the related consolidated statements of comprehensive income, changes in equity and cash flows for the three months ended March 31, 2025 and 2024, and the notes to the consolidated financial statements, including a summary of material accounting policy information (collectively referred to as the "consolidated financial statements"). Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34 "Interim Financial Reporting endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China". Our responsibility is to express a conclusion on the consolidated financial statements based on our reviews.

We conducted our reviews in accordance with the Standards on Review Engagements of the Republic of China 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Based on our reviews and the review reports of other auditors (refer to the Other Matter section), nothing has come to our attention that caused us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of the Group as of March 31, 2025 and 2024, and its consolidated financial performance and its consolidated cash flows for the three months ended March 31, 2025 and 2024 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34 "Interim Financial Reporting" endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China.

As disclosed in Note 20, the Group acquired 65%, 100% and 100% interest in Com.Steel Inox S.p.A., Degerfors Long Products AB and Special Melted Products Ltd. on May 3, 2024, August 1, 2023 and September 19, 2023, respectively. The purchase price allocation report was finalized in 2025, 2024 and 2024, respectively. Therefore, the initial accounting treatment and provisionally determined amounts from the acquisition date were adjusted and retrospectively restated for comparative periods. Our review result is not modified in respect of this matter.

We did not review the financial statements of some subsidiaries included in the consolidated financial statements of the Group, but such financial statements were reviewed by other auditors. Our conclusion, insofar as it relates to the amounts included in these consolidated financial statements for such subsidiaries, is based solely on the review reports of other auditors. As of March 31, 2025 and 2024, the combined total assets of these subsidiaries were NT$44,879,731 thousand and NT$39,489,227 thousand, respectively, representing 15.92% and 14.84%, respectively, of the consolidated total assets; for the three months ended March 31, 2025 and 2024, the amounts of combined net operating revenue of these subsidiaries were NT$7,613,909 thousand and NT$8,347,927 thousand, respectively, representing 16.98% and 20.59%, respectively, of the consolidated net operating revenue.

The engagement partners on the reviews resulting in this independent auditors' review report are Wen-Yea Shyu and Ker-Chang Wu.

Deloitte & Touche Taipei, Taiwan Republic of China

May 9, 2025

Notice to Readers

The accompanying consolidated financial statements are intended only to present the consolidated financial position, financial performance 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 review such consolidated financial statements are those generally applied in the Republic of China.

For the convenience of readers, the independent auditors' review report and the accompanying consolidated financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese-language independent auditors' review report and consolidated financial statements shall prevail.

CONSOLIDATED BALANCE SHEETS

(In Thousands of New Taiwan Dollars)

March 31, 2025

December 31, 2024

(Restated)

March 31, 2024

(Restated)

January 1, 2024

(Restated)

The accompanying notes are an integral part of the consolidated financial statements. (With Deloitte & Touche review report dated May 9, 2025)

- 3 -

(Continued)

(Continued)

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

(With Deloitte & Touche review report dated May 9, 2025) (Concluded)

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(In Thousands of New Taiwan Dollars)

Equity Attributable to Owners of WLC

Other Equity Unrealized

Retained Earnings

Exchange

Differences on Translation the Financial Statements of

Valuation Gain

on Financial Assets at Fair Value through

Other (Loss) Gain on

Unappropriated

Foreign

Comprehensive

Hedging

Non-controlling

BALANCE ON JANUARY 1, 2024 (AS RESTATED)

Appropriation of 2023 earnings

Cash dividends distributed by WLC

Changes in percentage of ownership interests in subsidiaries Changes in capital surplus from investments in associates

accounted for using the equity method

Net profit (loss) for the three months ended March 31, 2024 Other comprehensive (loss) income for the three months ended

March 31, 2024, net of income tax

Total comprehensive income (loss) for the three months ended March 31, 2024

Others

Changes in non-controlling interests

BALANCE ON MARCH 31, 2024 (AS RESTATED) BALANCE ON JANUARY 1, 2025 (AS RESTATED)

Appropriation of 2024 earnings

Cash dividends distributed by WLC

Changes in percentage of ownership interests in subsidiaries Changes in capital surplus from investments in associates

accounted for using the equity method

Net profit (loss) for the three months ended March 31, 2025 Other comprehensive income (loss) for the three months ended

March 31, 2025, net of income tax

Total comprehensive income (loss) for the three months ended March 31, 2025

Others

Changes in non-controlling interests BALANCE ON MARCH 31, 2025

The accompanying notes are an integral part of the consolidated financial statements. (With Deloitte & Touche review report dated May 9, 2025)

- 7 -

March 31

(Continued)

March 31

EFFECTS OF EXCHANGE RATE CHANGES ON THE BALANCE OF

CASH HELD IN FOREIGN CURRENCIES 1,168,200 1,380,631

NET INCREASE (DECREASE) IN CASH AND CASH

EQUIVALENTS 147,760 (4,033,222)

CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE

PERIOD 10,757,417 16,347,012

CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD $ 10,905,177 $ 12,313,790

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

(With Deloitte & Touche review report dated May 9, 2025) (Concluded)

1. GENERAL INFORMATION

   Walsin Lihwa Corporation (WLC) was incorporated in December 1966 and commenced operations in December 1966. To diversify its operations, WLC made various investments in construction, electronics, material science, real estate, etc. WLC's main products are wires, cables, stainless steel, resource business and real estate.

   WLC's shares have been listed on the Taiwan Stock Exchange (TWSE) since November 1972. In October 1995, November 2010 and June 2023, WLC increased its share capital and issued global depositary receipts (GDRs), which were listed on the Luxembourg Stock Exchange.

   The consolidated financial statements are presented in WLC's functional currency, the New Taiwan dollar.

2. APPROVAL OF CONSOLIDATE FINANCIAL STATEMENTS

   The consolidated financial statements of WLC and its subsidiaries (collectively, the "Group") were approved by the board of directors of WLC on May 9, 2025.

3. APPLICATION OF NEW, AMENDED AND REVISED STANDARDS AND INTERPRETATIONS

   1. Initial application of the amendments to the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), IFRIC Interpretations (IFRIC), and SIC Interpretations (SIC) (collectively, the "IFRS Accounting Standards") endorsed and issued into effect by the Financial Supervisory Commission (FSC)

      Amendments to IAS 21 "Lack of Exchangeability"

      The initial application of the Amendments to IAS 21 "Lack of Exchangeability" did not have a material impact on the Group's accounting policies.

   2. The IFRS Accounting Standards endorsed by the FSC for application starting from 2026

      New, Amended and Revised Standards and Interpretations

      Effective Date

      Announced by IASB

      Amendments to IFRS 9 and IFRS 7 "Amendments to the Classification and Measurement of Financial Instruments" - the amendments to the application guidance of classification of financial assets

      January 1, 2026 (Note)

      Note: An entity shall apply those amendments for annual reporting periods beginning on or after January 1, 2026. It is permitted to apply these amendments for an earlier period beginning on January 1, 2025.

      Amendments to IFRS 9 and IFRS 7 "Amendments to the Classification and Measurement of Financial

      Instruments" - the amendments to the application guidance of classification of financial assets

      The amendments mainly amend the requirements for the classification of financial assets, including:

      1. If a financial asset contains a contingent feature that could change the timing or amount of contractual cash flows and the contingent event itself does not relate directly to changes in basic lending risks and costs (e.g., whether the debtor achieves a contractually specified reduction in carbon emissions), the financial asset has contractual cash flows that are solely payments of principal and interest on the principal amount outstanding if, and only if,

         • In all possible scenarios (before and after the occurrence of a contingent event), the contractual cash flows are solely payments of principal and interest on the principal amount outstanding; and

         • In all possible scenarios, the contractual cash flows would not be significantly different from the contractual cash flows on a financial instrument with identical contractual terms, but without such a contingent feature.

      2. To clarify that a financial asset has non-recourse features if an entity's ultimate right to receive cash flows is contractually limited to the cash flows generated by specified assets.

      3. To clarify that the characteristics of contractually linked instruments include a prioritization of payments to the holders of financial assets using multiple contractually linked instruments (tranches) established through a waterfall payment structure, resulting in concentrations of credit risk and a disproportionate allocation of cash shortfalls from the underlying pool between the tranches.

         An entity shall apply the amendments retrospectively but is not required to restate prior periods. The effect of initially applying the amendments shall be recognized as an adjustment to the opening balance at the date of initial application. An entity may restate prior periods if, and only if, it is possible to do so without the use of hindsight.

         As of the date the consolidated financial statements were authorized for issue, the Group is continuously assessing the possible impact of the application of the amendments on the Group's financial position and financial performance.

   3. The IFRS Accounting Standards in issue but not yet endorsed and issued into effect by the FSC

      New, Amended and Revised Standards and Interpretations

      Effective Date

      Announced by IASB (Note)

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

      Amendments to IFRS 9 and IFRS 7 "Amendments to the Classification and Measurement of Financial Instruments" - the amendments to the application guidance of derecognition of financial liabilities

      Amendments to IFRS 9 and IFRS 7 "Contracts Referencing Nature-dependent Electricity"

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

      January 1, 2026

      January 1, 2026

      To be determined by IASB

      IFRS 17 "Insurance Contracts" January 1, 2023

      Amendments to IFRS 17 January 1, 2023

      (Continued)

      New, Amended and Revised Standards and Interpretations

      Effective Date

      Announced by IASB (Note)

      Amendments to IFRS 17 "Initial Application of IFRS 17 and IFRS 9 - January 1, 2023 Comparative Information"

      IFRS 18 "Presentation and Disclosure in Financial Statements" January 1, 2027 IFRS 19 "Subsidiaries without Public Accountability: Disclosures" January 1, 2027

      (Concluded)

      Note: Unless stated otherwise, the above IFRS Accounting Standards are effective for annual reporting periods beginning on or after their respective effective dates.

      1. Amendments to IFRS 10 and IAS 28 "Sale or Contribution of Assets between an Investor and its Associate or Joint Venture"

         The amendments stipulate that, when the Group sells or contributes assets that constitute a business (as defined in IFRS 3) to an associate or joint venture, the gain or loss resulting from the transaction is recognized in full. Also, when the Group loses control of a subsidiary that contains a business but retains significant influence or joint control, the gain or loss resulting from the transaction is recognized in full.

         Conversely, when the Group sells or contributes assets that do not constitute a business to an associate or joint venture, the gain or loss resulting from the transaction is recognized only to the extent of the Group's interest as an unrelated investor in the associate or joint venture, i.e., the Group's share of the gain or loss is eliminated. Also, when the Group loses control of a subsidiary that does not contain a business but retains significant influence or joint control over an associate, or a joint venture, the gain or loss resulting from the transaction is recognized only to the extent of the Group's interest as an unrelated investor in the associate or joint venture, i.e., the Group's share of the gain or loss is eliminated.

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

         IFRS 18 will supersede IAS 1 "Presentation of Financial Statements". The main changes comprise:

         • Items of income and expenses included in the statement of profit or loss shall be classified into the operating, investing, financing, income taxes and discontinued operations categories.

         • The statement of profit or loss shall present totals and subtotals for operating profit or loss, profit or loss before financing and income taxes and profit or loss.

         • Provides guidance to enhance the requirements of aggregation and disaggregation: The Group shall identify the assets, liabilities, equity, income, expenses and cash flows that arise from individual transactions or other events and shall classify and aggregate them into groups based on shared characteristics, so as to result in the presentation in the primary financial statements of line items that have at least one similar characteristic. The Group shall disaggregate items with dissimilar characteristics in the primary financial statements and in the notes. The Group labels items as "other" only if it cannot find a more informative label.

         • Disclosures on Management-defined Performance Measures (MPMs): When in public communications outside financial statements and communicating to users of financial statements management's view of an aspect of the financial performance of the Group as a whole, the Group shall disclose related information about its MPMs in a single note to the financial statements, including the description of such measures, calculations, reconciliations to the subtotal or total specified by IFRS Accounting Standards and the income tax and non-controlling interests effects of related reconciliation items.

      3. Amendments to IFRS 9 and IFRS 7 "Amendments to the Classification and Measurement of Financial Instruments" - the amendments to the application guidance of derecognition of financial liabilities

         The amendments mainly stipulate that, when settling a financial liability in cash using an electronic payment system, the Group can choose to derecognize the financial liability before the settlement date if, and only if, the Group has initiated a payment instruction that resulted in:

         • The Group having no practical ability to withdraw, stop or cancel the payment instruction;

         • The Group having no practical ability to access the cash to be used for settlement as a result of the payment instruction; and

         • The settlement risk associated with the electronic payment system being insignificant.

           The Group shall apply the amendments retrospectively but is not required to restate prior periods. The effect of initially applying the amendments shall be recognized as an adjustment to the opening balance at the date of initial application.

      4. Amendments to IFRS 9 and IFRS 7 "Contracts Referencing Nature-dependent Electricity"

         Contracts referencing nature-dependent electricity are contracts that expose an entity to variability in the underlying amount of electricity because the source of electricity generation depends on uncontrollable natural conditions. Contracts referencing nature-dependent electricity include both contracts to buy or sell nature-dependent electricity and financial instruments that reference such electricity. When the Group enters into contracts to buy nature-dependent electricity, which exposes the Group to the risk that it would be required to buy electricity during a delivery interval in which the Group cannot use the electricity, and the design and operation of the electricity market require any amounts of unused electricity to be sold within a specified time, the amendments stipulate that such sales are not necessarily inconsistent with the contract being held in accordance with the Group's expected usage requirements. The inconsistency will result in the contract being accounted for as financial instruments otherwise. The Group entered into and continues to hold such a contract in accordance with its expected electricity usage requirements, if the Group has bought, and expects to buy, sufficient electricity to offset the sales of any unused electricity in the same market in which it sold the electricity over a reasonable amount of time.

         The amendments also stipulate that, if contracts referencing nature-dependent electricity are designated as hedging instruments in hedges of forecast transactions, for such a hedging relationship the Group is permitted to designate as the hedged item a variable nominal amount of forecast electricity transactions that is aligned with the variable amount of nature-dependent electricity expected to be delivered by the generation facility as referenced in the hedging instrument.

         For the amendments related to whether contracts referencing nature-dependent electricity are entered into in accordance with expected electricity usage requirements, the Group shall apply retrospectively but is not required to restate prior periods. The effect of initially applying the amendments shall be recognized as an adjustment to the opening balance at the date of initial application. For the amendments related to hedge accounting, the Group shall apply prospectively.

         Except for the above impact, as of the date the consolidated financial statements were authorized for issue, the Group is continuously assessing the other impacts of the above amended standards and interpretations on the Group's financial position and financial performance and will disclose the relevant impact when the assessment is completed.

4. SUMMARY OF MATERIAL ACCOUNTING POLICY INFORMATION

   1. Statement of compliance

      The interim consolidated financial statements have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and IAS 34 "Interim Financial Reporting" as endorsed and issued into effect by the FSC. Disclosure information included in these interim consolidated financial statements is less than the disclosure information required in a complete set of annual consolidated financial statements.

   2. Basis of preparation

      The consolidated financial statements have been prepared on the historical cost basis except for financial instruments, which are measured at fair value and net defined benefit liabilities which are measured at the present value of the defined benefit obligation less the fair value of plan assets.

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

      1. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities;

      2. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for an asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and

      3. Level 3 inputs are unobservable inputs for an asset or liability.

   3. Basis of consolidation

      See Note 15, Table 6 and Table 7 for detailed information on subsidiaries (including percentages of ownership and main businesses).

   4. Other material accounting policies

      Except for the following, please refer to the consolidated financial statements for the year ended December 31, 2024.

      1. Carbon fee provision

         In accordance with the Regulations Governing the Collection of Carbon Fees and related regulations of the ROC, the carbon fee provision is recognized and measured on the basis of the best estimate of the expenditure required to settle the obligation for the current year and the proportion of actual emissions to the total annual emissions.

      2. Retirement benefits

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

      3. Income tax expense

         Income tax expense represents the sum of the tax currently payable and deferred tax. Interim period income taxes are assessed on an annual basis and calculated by applying to an interim period's pre-tax income the tax rate that would be applicable to expected total annual earnings.

5. MATERIAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Except for the following changes in depreciation and amortization methods, please refer to the consolidated financial statements for the year ended December 31, 2024 for the material accounting judgments and key sources of estimation uncertainty of these consolidated financial statements.

Depreciation method of property, plant and equipment and amortization method of intangible assets

The depreciation and amortization methods for machinery and equipment, and intangible assets within the Resource segment entities were changed from the accelerated depreciation method to the straight-line method, starting from January 1, 2025, with the effect of any changes in the estimates accounted for on a prospective basis.

Considering the current utilization status, anticipated future economic benefits, and consumption patterns of machinery and equipment, and intangible assets, the Group has assessed that adopting the straight-line basis will more faithfully and reasonably reflect the assets' economic benefits. The change in accounting estimates decreased depreciation and amortization expenses for the three months ended March 31, 2025 by NT$296,126 thousand and NT$49,850 thousand, respectively.

Other bank deposits have been reclassified to other accounts for the following purposes:

Purpose

March 31,

2025

December 31,

2024

March 31,

2024

Other financial assets - current

Restricted deposits To meet contract requirements for

completing construction

$ 23,720 $ 54,126 $ 110,286

1. FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS

   	March 31, 2025	December 31, 2024	March 31, 2024
   Financial assets mandatorily classified as at
   FVTPL
   Derivative financial assets (not under hedge
   accounting)
   Commodity futures contracts	$ 99,488	$ -	$ 105,942
   Options	-	-	1,151
   Exchange rate swap contracts	107,674	5,677	9,530
   Foreign exchange forward contracts	-	-	27,340
   Non-derivative financial assets
   Contingent consideration	-	-	1,195,872
   Foreign unlisted shares	66,673	66,607	77,307
   Financial assets at FVTPL	$ 273,835	$ 72,284	$ 1,417,142
   Current	$ 207,162	$ 5,677	$ 1,339,835
   Non-current	66,673	66,607	77,307
   	$ 273,835	$ 72,284	$ 1,417,142
   Financial liabilities held for trading
   Derivative financial liabilities (not under hedge
   accounting)
   Commodity futures contracts	$ -	$ 322,273	$ -
   Foreign exchange forward contracts	42,759	34,323	-
   Non-derivative financial liabilities
   Contingent consideration	608,547	563,583	430,782
   Financial liabilities at FVTPL	$ 651,306	$ 920,179	$ 430,782
   Current	$ 537,272	$ 356,596	$ -
   Non-current	114,304	563,583	430,782
   	$ 651,306	$ 920,179	$ 430,782

   1. As of March 31, 2025, December 31, 2024 and March 31, 2024, outstanding commodity futures not under hedge accounting were as follows:

      	Type of Transaction	Quantity (Tons)	Trade Date	Expiration Date	Exercise Price (In Thousands)	Market Price (In Thousands)	Valuation (Loss) Gain (In Thousands)
      March 31, 2025
      Commodity futures contracts Copper	Buy	9,350	2024.07.15-	2025.04.16-	US$ 89,217	US$ 90,358	US$ 1,141
      			2025.03.31	2026.03.18
      Copper	Buy	5,305	2024.12.16-	2025.05.01-	RMB 410,354	RMB 424,269	RMB 13,915
      			2025.03.28	2026.05.03
      Copper	Sell	272.16	2025.03.12-	2025.05.01	US$ 2,962	US$ 3,021	US$ (59)
      			2025.03.20
      Nickel	Buy	60	2025.03.17-	2025.06.17-	US$ 978	US$ 954	US$ (24)
      			2025.03.18	2025.06.18

      (Continued)

      	Type of Transaction	Quantity (Tons)	Trade Date	Expiration Date	Exercise Price (In Thousands)	Market Price (In Thousands)	Valuation (Loss) Gain (In Thousands)
      December 31, 2024
      Commodity futures contracts Copper	Buy	15,677	2024.05.31-	2025.01.09-	US$ 145,699	US$ 136,756	US$ (8,943 )
      			2024.12.31	2025.08.20
      Copper	Buy	5,000	2024.12.13-	2025.01.31-	RMB 373,691	RMB 369,544	RMB (4,147 )
      			2024.12.18	2025.06.30
      Copper	Sell	1,475	2024.12.10-	2025.01.15	US$ 13,222	US$ 12,820	US$ 402
      			2024.12.31
      Nickel	Buy	1,290	2024.10.22-	2025.01.22-	US$ 20,338	US$ 19,626	US$ (712 )
      			2024.12.19	2025.03.19
      March 31, 2024
      Commodity futures contracts Copper	Buy	12,341	2023.11.06-	2024.04.17-	US$ 105,665	US$ 108,700	US$ 3,035
      			2024.03.28	2024.08.21
      Copper	Sell	375	2024.03.22-	2024.04.17	US$ 3,285	US$ 3,299	US$ (14 )
      			2024.03.28
      Nickel	Buy	90	2024.03.26-	2024.06.26-	US$ 1,501	US$ 1,497	US$ (4 )
      			2024.03.27	2024.06.27
      Nickel	Sell	366	2024.01.25-	2024.04.25-	US$ 6,364	US$ 6,070	US$ 294
      			2024.02.29	2024.05.29

      (Concluded)

   2. As of March 31, 2025, December 31, 2024 and March 31, 2024, outstanding foreign exchange forward contracts not under hedge accounting were as follows:

      	Currency	Maturity Date	Notional Amount (In Thousands)
      March 31, 2025
      Sell	EUR to USD	2025.04.11	EUR10,000/USD10,822
      	USD to NTD	2025.04.08-2025.04.24	USD40,000/NTD1,314,140
      	USD to MYR	2025.06.30	USD215/MYR952
      	USD to IDR	2025.04.08-2025.05.23	USD43,087/IDR708,256,048
      Buy	USD to IDR	2025.04.21-2025.04.28	USD29,000/IDR480,460,000
      	USD to JYP	2025.05.07	USD5,000/JPY740,400
      	EUR to MYR	2025.04.02-2025.08.04	EUR1,837/MYR8,635
      	EUR to USD	2025.04.02-2025.09.30	EUR14,617/USD16,068
      	EUR to GBP	2025.04.28-2025.06.30	EUR12,421/GBP10,442
      	EUR to BRL	2025.04.15-2025.06.20	EUR5,055/BRL31,550
      	EUR to SEK	2025.04.30-2025.04.30	EUR13,110/SEK146,500
      	SEK to EUR	2025.04.30-2025.05.30	SEK49,361/EUR4,500
      December 31, 2024
      Sell	EUR to USD	2025.01.16-2025.02.18	EUR21,442/USD22,529
      	EUR to MYR	2025.01.08-2025.05.30	EUR1,920/MYR9,023
      	USD to IDR	2025.01.06-2025.03.20	USD53,551/IDR847,599,840
      Buy	USD to IDR	2025.01.02-2025.01.17	USD67,000/IDR1,071,372,000
      	USD to JPY	2025.01.14	USD4,000/JPY605,400
      	EUR to USD	2025.01.31-2025.09.30	EUR18,242/USD20,045
      	EUR to BRL	2025.01.16-2025.03.21	EUR2,638/BRL16,570
      	EUR to GBP	2025.01.29-2025.02.26	EUR5,515/GBP4,610
      	EUR to SEK	2025.01.31-2025.03.28	EUR11,211/SEK128,250
      	SEK to USD	2025.01.31	SEK8,624/USD800

      (Continued)

      	Currency	Maturity Date	Notional Amount (In Thousands)
      	SEK to GBP	2025.02.28	SEK3,432/GBP250
      	SEK to EUR	2025.01.31-2025.02.28	SEK22,967/EUR2,000
      March 31, 2024
      Sell	USD to NTD	2024.04.02-2024.04.26	USD105,000/NTD3,355,575
      	USD to IDR	2024.04.04-2024.06.27	USD61,672/IDR976,459,411
      	USD to RMB	2024.04.23-2024.05.28	USD19,000/RMB136,392
      	EUR to RMB	2024.04.17	EUR2,036/RMB16,000
      	EUR to MYR	2024.04.19-2024.06.04	EUR492/MYR2,157
      	EUR to USD	2024.04.23-2024.06.03	EUR43,000/USD46,765
      Buy	USD to IDR	2024.04.17-2024.04.18	USD75,000/IDR1,178,234,950
      	USD to NTD	2024.04.23	USD20,000/NTD635,760
      	USD to SGD	2024.05.20	USD500/SGD664
      	USD to JPY	2024.05.22	USD9,000/JPY1,353,105
      	EUR to BRL	2024.04.10-2024.07.31	EUR2,339/BRL12,760
      	EUR to RMB	2024.04.17	EUR2,042/RMB16,000
      	EUR to GBP	2024.04.18-2024.06.28	EUR15,649/GBP13,450
      	EUR to SEK	2024.04.30-2024.08.30	EUR3,937/SEK44,500
      	EUR to ZAR	2024.05.22	EUR53/ZAR1,100

      (Concluded)

   3. As of March 31, 2025, December 31, 2024 and March 31, 2024, outstanding exchange rate swap contracts not under hedge accounting were as follows:

      	Currency	Maturity Date	Notional Amount (In Thousands)
      March 31, 2025	USD to NTD	2025.04.07-2025.07.15	USD170,207/NTD5,553,396
      	USD to RMB	2025.04.02-2025.07.14	USD150,862/RMB1,100,000
      	EUR to GBP	2025.04.09	EUR2,307/GBP1,940
      	EUR to USD	2025.04.30-2025.08.29	EUR682/USD741
      	USD to IDR	2025.04.08-2025.05.28	USD23,087/IDR379,276,048
      December 31, 2024	USD to RMB	2025.04.02	USD10,972/RMB800,000
      	USD to IDR	2025.01.06-2025.03.20	USD43,551/IDR689,109,840
      	EUR to GBP	2025.01.08	EUR13,194/GBP11,030
      	EUR to USD	2025.01.30-2025.02.27	EUR1,472/USD1,535
      March 31, 2024	USD to NTD	2024.04.01-2024.04.15	USD76,000/NTD2,420,477
      	USD to RMB	2024.04.16-2024.05.20	USD63,000/RMB456,331
      	USD to IDR	2024.06.20-2024.06.27	USD11,672/IDR183,669,459
      	EUR to SEK	2024.04.18-2024.04.30	EUR1,078/SEK12,300

   4. As of March 31, 2025, December 31, 2024 and March 31, 2024, outstanding commodity futures option contracts not under hedge accounting were as follows:

      March 31, 2024
      Notional Amount	Type of Transaction	Buyer/Seller	Premium Paid	Fair Value
      US$ 6,138	Put	Buyer	US$ 72	US$ 36

   5. For the three months ended March 31, 2025 and 2024, the Group's strategies for commodity futures contracts, foreign exchange forward contracts and exchange rate swap contracts were to hedge exposures to fluctuations in the prices of raw material and foreign exchange rates. However, those derivative financial instruments did not meet the criteria of hedge effectiveness; therefore, they were not accounted for hedge accounting.

   6. Financial assets - contingent consideration is the amount of consideration to be received by the Group from the acquirer in the disposal of the subsidiary (the "Target Company") on July 27, 2022. In accordance with the agreement of contingent consideration, the acquirer shall respectively pay additional payments when the gross profit of Target Company during the period starting from the settlement date to December 31, 2023 and the gross profit in the year 2024 meet the amount agreed upon by Target Company. The Group received $1,273,115 thousand in 2024.

   7. Financial liabilities - contingent consideration according to the agreement of acquisition, the Group is required to make additional payments to the seller if Cogne Acciai Speciali S.p.A. and Com. Steel Inox S.P.A.'s earnings before interest, income tax, depreciation and amortization from the settlement date to 2025 and 2026 meet the contract requirements, respectively.

The interest rates for the government bonds the Group purchased were 4.35%-4.75%, 0.5%-4.75% and 4.35%-4.75% as of March 31, 2025, December 31, 2024 and March 31, 2024.

1. The Group entered into foreign exchange forward contracts and foreign currency deposits to hedge against the exchange rate fluctuations associated with designated foreign currency receivables and payables. The conditions of the foreign exchange forward contracts are the same as those of the corresponding financial assets, so the management believes that the foreign exchange forward contracts are highly effective hedging instruments. For information regarding the financial instruments used for hedging, refer to Note 35.

2. The Group converts some of the issued floating rate financial liabilities from floating rate to fixed rate through the interest rate swap contracts in order to reduce the risk of the cash flow of the issued floating rate financial liabilities due to changes in interest rates. The conditions of the interest rate swap contracts are the same as the one of the related financial liabilities, therefore, the management of the Group considers they can be highly effective hedging instruments. For information regarding the financial instruments used for hedging, refer to Note 35.

3. The Group is exposed to the risk that the future cash flows of the assets and liabilities may fluctuate due to changes in market prices of gas, electricity and nickel that are required for the Group's operations. The Group assesses that the risk may be significant and therefore enters into gas, electricity and nickel swap contracts for hedging purposes. The breakdown of the cash flow hedge items and derivative financial instruments designated for hedging at the end of the reporting period were as follows:

1. CONTRACT ASSETS

   As of March 31, 2025, December 31, 2024 and March 31, 2024, contract balances were as follows:

   March 31, 2025 December 31, 2024 March 31, 2024

   Contract assets

   Cable installation	$ 638,859	$ 501,451	$ 732,003
   Solar power systems installation	138,890	70,218	225,483
   Less: Allowance for impairment loss	-	-	-
   Contract assets - current	$ 777,749	$ 571,669	$ 957,486

   The changes in the balance of contract assets primarily resulted from the timing differences between the Group's satisfaction of performance obligations and the respective customer's payment.

2. NOTES RECEIVABLE AND TRADE RECEIVABLES

   	March 31, 2025	December 31, 2024	March 31, 2024
   Notes receivable Notes receivable	$ 265,316	$ 526,699	$ 891,715

   (Continued)

   	March 31, 2025	December 31, 2024	March 31, 2024
   Trade receivables
   Trade receivables	$ 17,752,316	$ 15,736,374	$ 18,056,877
   Less: Allowance for impairment loss	(761,620)	(768,988)	(863,975)
   	$ 16,990,696	$ 14,967,386	$ 17,192,902
   			(Concluded)
   Trade receivable

   The average credit period on the sales of goods is 30 to 65 days. In determining the collectability of a trade receivable, the Group considered any change in the credit quality of the trade receivable since the date credit was initially granted to the end of the reporting period. When the Group dealt with new entities, the Group reviewed the credit ratings of the entities and obtained sufficient collateral, where appropriate, as a means of mitigating the risk of financial loss from defaults. The Group uses other publicly available financial information or its own trading records to rate its major customers. The Group's exposure and the credit ratings of its counterparties are continuously monitored, and the aggregate value of transactions concluded is spread amongst approved counterparties. Credit exposure is controlled by counterparty limits that are reviewed and approved by the risk management committee annually. In this regard, the management believes the Group's credit risk is significantly reduced.

   The Group permits the use of a lifetime expected credit losses allowance for all trade receivables. The expected credit losses on trade receivables are estimated using a provision matrix by reference to the past default experience with the respective debtors and an analysis of the debtors' current financial positions. As the Group's historical credit loss experience does not show significantly different loss patterns for different customer segments, the loss allowance based on the past due status of receivables is not further distinguished according to different segments of the Group's customer base.

   The Group writes off a trade receivable when there is information indicating that the debtor is experiencing severe financial difficulty and there is no realistic prospect of recovery of the receivable. For trade receivables that have been written off, the Group continues to engage in enforcement activity to attempt to recover the receivables which are due. Where recoveries are made, they are recognized in profit or loss.

   The following table details the loss allowance of trade receivables based on the Group's provision matrix.

   March 31, 2025
   	Not Past Due	Up to 90 Days	91 to 180 Days	181 to 365 Days	Over 365 Days	Total
   Expected credit loss rate	0%-1%	0%-4%	0%-50%	0%-100%	50%-100%
   Gross carrying amount	$ 14,390,561	$ 1,998,062	$ 253,422	$ 294,630	$ 815,641	$ 17,752,316
   Loss allowance (lifetime ECLs)	(90,183)	(49,417)	(68,207)	(14,852)	(538,961)	(761,620)
   Amortized cost	$ 14,300,378	$ 1,948,645	$ 185,215	$ 279,778	$ 276,680	$ 16,990,696
   December 31, 2024
   	Not Past Due	Up to 90 Days	91 to 180 Days	181 to 365 Days	Over 365 Days	Total
   Expected credit loss rate	0%-1%	0%-4%	0%-50%	0%-100%	50%-100%
   Gross carrying amount	$ 12,482,193	$ 1,841,608	$ 229,494	$ 326,578	$ 856,501	$ 15,736,374
   Loss allowance (lifetime ECLs)	(80,266)	(64,008)	(26,747)	(16,465)	(581,502)	(768,988)
   Amortized cost	$ 12,401,927	$ 1,777,600	$ 202,747	$ 310,113	$ 274,999	$ 14,967,386

   March 31, 2024
   	Not Past Due	Up to 90 Days	91 to 180 Days	181 to 365 Days	Over 365 Days	Total
   Expected credit loss rate	0%-1%	0%-2%	0%-50%	0%-100%	50%-100%
   Gross carrying amount	$ 13,834,586	$ 2,557,197	$ 267,020	$ 705,870	$ 692,204	$ 18,056,877
   Loss allowance (lifetime ECLs)	(38,233)	(16,382)	(24,148)	(244,461)	(540,751)	(863,975)
   Amortized cost	$ 13,796,353	$ 2,540,815	$ 242,872	$ 461,409	$ 151,453	$ 17,192,902

   The movements of the loss allowance of trade receivables were as follows:

   For the Three Months Ended

   March 31

   2025		2024
   Balance at January 1	$ 768,988	$ 637,399
   Add: Acquisitions through business combination	-	190,992
   Add: Net remeasurement of loss allowance	-	9,265
   Less: Reversal of impairment loss	(24,460)	-
   Less: Amounts written off	(1,366)	(312)
   Foreign exchange gains	18,458	26,631
   Balance at March 31	$ 761,620	$ 863,975

   The amounts and the details of the factoring agreements for accounts receivable of the Group are set out in Notes 23, 35 and 37.

3. FINANCE LEASE RECEIVABLES

   		March 31, 2025	December 31, 2024	March 31, 2024
   	Undiscounted lease payments
   	Year 1	$ 81,359	$ 81,359	$ 81,359
   	Year 2	81,359	81,359	81,359
   	Year 3	81,359	81,359	81,359
   	Year 4	81,359	81,359	81,359
   	Year 5	81,359	81,359	81,359
   	Year 5 onwards	185,959	206,299	267,318
   		592,754	613,094	674,113
   	Less: Unearned finance income	(68,142)	(72,637)	(86,912)
   	Net investment in leases presented as finance
   lease receivables		$ 524,612		$ 540,457	$ 587,201
   Current		$ 64,723		$ 64,183	$ 62,589
   Non-current		459,889		476,274	524,612
   		$ 524,612		$ 540,457	$ 587,201
   The power supply contracts of solar power		equipment are processed		according to	the finance leases

   accounting policy. The average term of finance leases entered into was 20 years.

   The interest rate inherent in the leases was fixed at the contract date for the entire lease term. The average effective interest rate contracted was 3.30% per annum as of March 31, 2025, December 31, 2024 and March 31, 2024.

   The finance lease receivables as of March 31, 2025, December 31, 2024 and March 31, 2024 were neither past due nor impaired.

   The amounts of finance lease receivables pledged as collateral or for security are set out in Note 37.

   13.	INVENTORIES
   		March 31,	December 31,	March 31,
   		2025	2024	2024
   	Manufacturing and trading industries
   	Raw materials	$ 11,609,448	$ 10,611,261	$ 7,391,519
   	Raw materials in transit	2,267,453	1,844,390	3,698,843
   	Supplies	2,157,577	1,990,854	2,064,224
   	Work-in-process	13,150,802	12,420,851	9,746,218
   	Finished goods and merchandise	16,461,508	14,568,269	11,730,713
   	Contracts in progress	369,893	303,992	164,117
   		46,016,681	41,739,947	34,795,634
   	Real estate development industries
   Undeveloped land		3,434	3,434	3,434
   Buildings and land held for sale		159,027	181,466	180,150
   Contracts in progress		2,229,462	2,198,100	2,173,694
   		2,391,923	2,383,000	2,357,278
   		$ 48,408,604	$ 44,122,947	$ 37,152,912

   1. The cost of goods sold related to inventories for the three months ended March 31, 2025 and 2024 were NT$40,785,583 thousand and NT$37,636,307 thousand, respectively.

   2. The cost of goods sold for the three months ended March 31, 2025 and 2024 included reversals of inventory write-downs of NT$365,030 thousand and NT$183,704 thousand, respectively.

   3. The inventories for the real estate development business are primarily land and construction costs for future construction and contracts in progress of WLC's subsidiary, Walsin (Nanjing) Development Co., Ltd.

1. FINANCIAL ASSETS MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

   	March 31, 2025	December 31, 2024	March 31, 2024
   Domestic listed ordinary shares HannStar Display Corp.	$ 2,268,216	$ 2,522,903	$ 3,176,101
   HannStar Board Corp.	3,067,585	3,120,373	3,876,240
   TECO Electric & Machinery Corp.	11,324,132	12,063,667	12,918,754
   K. S. Terminals Inc.	8,758	11,296	10,208
   Domestic unlisted ordinary shares	944,064	820,738	809,484
   Foreign unlisted ordinary shares	88,529	101,132	83,275
   	$ 17,701,284	$ 18,640,109	$ 20,874,062
   Non-current	$ 17,701,284	$ 18,640,109	$ 20,874,062

   These investments in equity instruments are held for medium- to long-term strategic purposes. Accordingly, the management selected to designate these investments in equity instruments as at FVTOCI as they believe that recognizing short-term fluctuations in these investments' fair value in profit or loss would not be consistent with the Group's strategy of holding these investments for long-term purposes. For the three months ended March 31, 2025 and 2024, the unrealized valuation (losses) gains resulting from these investments in equity instruments were NT$(939,922) thousand and NT$1,993,594 thousand, respectively, which were recognized in other comprehensive income (loss).

2. SUBSIDIARIES

   1. Subsidiaries included in the consolidated financial statements

      The consolidated entities as of March 31, 2025, December 31, 2024 and March 31, 2024 were as follows:

      Percentage of Ownership (%)

      Investor	Investee	Main Business	March 31, 2025	December 31, 2024	March 31, 2024
      Walsin Lihwa Corporation	Walsin Lihwa Holdings Limited (WLHL)	Investment holding	100.00	100.00	100.00
      	Concord Industries Limited (CIL)	Investment holding	100.00	100.00	100.00
      	Ace Result Global Limited	Investment holding	100.00	100.00	100.00
      	Min Maw Precision Industry Corp. (Min Maw)	Solar power systems management, design, and installation	100.00	100.00	100.00
      	Walsin Info-Electric Corp. (Walsin Info-Electric)	Mechanical and electrical, communications, and power systems	99.51	99.51	99.51
      	Chin-Cherng Construction Co. (Chin-Cherng)	Investment in the construction of residential and sale of commercial buildings, rental	99.22	99.22	99.22
      	Joint Success Enterprises Limited	design and interior decoration business Investments	49.05	49.05	49.05
      	P.T. Walsin Lippo Industries (P.T. Walsin)	Manufacture and sale of cables and wires	70.00	70.00	70.00
      	PT. Walsin Lippo Kabel	Cables and wires	70.00	70.00	70.00
      	Waltuo Green Resources Corp. PT. Walsin Nickel Industrial Indonesia	Waste disposal, resource recovery and cement products Manufacture and sale of nickel pig iron	100.00 50.00	100.00 50.00	100.00 50.00
      	Walsin Precision Technology Sdn. Bhd.	Manufacture and sale of stainless steel	100.00	100.00	100.00
      	Walsin Singapore Pte. Ltd.	Investment holding	100.00	100.00	100.00
      	Walsin America, LLC	Investment holding	100.00	100.00	100.00
      	Walsin Lihwa Europe S.a r.l.	Investment holding	100.00	100.00	100.00
      	PT. Walsin Research Innovation Indonesia	Consulting and Management	99.67	99.67	99.50
      	Walsin Energy Cable System Co., Ltd.	Submarine communication cables	90.00	(Note 6) 90.00	90.00
      Walsin Singapore Pte. Ltd.	PT. Walsin Nickel Industrial Indonesia	Manufacture and sale of nickel pig iron	42.00	42.00	42.00
      	PT. Sunny Metal Industry	Manufacture and sale of nickel matte	50.10	50.10	50.10
      	Berg Holding Limited	Investment holding	75.00	75.00	75.00
      Berg Holding Limited	PT. Sunny Metal Industry	Manufacture and sale of nickel matte	39.35	39.35	39.35
      WLHL	Walsin (China) Investment Co., Ltd.	Investment holding	100.00	100.00	100.00
      	Jiangyin Walsin Steel Cable Co., Ltd. (JHS)	Manufacture and sale of steel cables and	100.00	100.00	100.00
      		wires

      Shanghai Walsin Lihwa Power Wire & Cable Co., Ltd.

      Manufacture and sale of cables and wires 95.71 95.71 95.71

      (Continued)

      Percentage of Ownership (%)

      Investor Investee Main Business

      March 31,

      2025

      December 31,

      2024

      March 31,

      2024

      Dongguan Walsin Wire & Cable Co., Ltd. Manufacture and sale of bare copper cables

      and wires

      100.00 100.00 100.00

      Walsin International Investments Limited Investments 100.00 100.00 100.00

      Nanjing Taiwan Trade Mart Management Co., Ltd.

      Jiangyin Walsin Specialty Alloy Materials Co., Ltd.

      Business and assets management, consulting and advertising services

      Manufacture and sale of cold-rolled stainless steel and flat-rolled products

      100.00 100.00 100.00

      18.37 18.37 18.37

      Walsin (China) Investment Co., Ltd.

      Dongguan Walsin Wire & Cable Co., Ltd.

      Hangzhou Walsin Power Cable & Wire Co., Ltd.

      Hangzhou Walsin Power Cable & Wire Co., Ltd.

      Manufacture and sale of cables and wires 15.48 15.48 15.48

      Manufacture and sale of cables and wires 60.00 60.00 60.00

      Ace Result Global Limited Hangzhou Walsin Power Cable & Wire Co., Ltd.

      Manufacture and sale of cables and wires 24.52 24.52 24.52

      CIL Walsin Specialty Steel Corp. Sale of specialty steel products and investment holding

      Changshu Walsin Specialty Steel Co., Ltd. Manufacture and sale of specialized steel

      tubes, rods and wires

      Yantai Walsin Stainless Steel Co., Ltd. Production and sale of new-type alloy

      materials

      100.00 100.00 100.00

      100.00 100.00 100.00

      100.00 100.00 100.00

      Jiangyin Walsin Specialty Alloy Materials Co., Ltd.

      Manufacture and sale of cold-rolled stainless steel and flat-rolled products

      81.63 81.63 81.63

      XiAn Walsin Metal Product Co., Ltd. Production and sale of medium and heavy

      specialty steel plates

      100.00 100.00 100.00

      Chin-Cherng Construction Co. Joint Success Enterprises Limited Investments 50.95 50.95 50.95

      Joint Success Enterprises Limited

      Walsin (Nanjing) Development Co., Ltd. Construction, rental and sale of buildings

      and industrial factories

      100.00 100.00 100.00

      Walsin (Nanjing) Development Co., Ltd.

      Nanjing Walsin Property Management Co., Ltd.

      Property management, business management and housing leasing

      100.00 100.00 100.00

      Walsin America, LLC	Borrego Energy Holdings, LLC	Investment holding	72.55	72.55	72.55
      Borrego Energy Holdings, LLC	Borrego Energy, LLC	Solar power system	100.00	100.00	100.00
      	Cleanleaf Energy Holdings, Inc.	Investment holding	83.45	100.00	100.00
      Cleanleaf Energy Holdings, Inc.	Cleanleaf Energy, LLC	Operation and Maintenance of Solar Energy	(Note 3) 100.00	100.00	100.00
      Walsin Lihwa Europe S.a r.l.	MEG S.A.	Systems Investment holding	100.00	100.00	90.21
      	Walsin Lihwa Italy S.r.l.	Sale of stainless steel	100.00	(Note 1) -	(Note 1) -
      MEG S.A.	Cogne Acciai Speciali S.p.A.	Manufacture and sale of stainless steel	(Note 10) 70.00	70.00	77.60
      Cogne Acciai Speciali S.p.A.	Cogne France Société par Actions Simplifiée	Sale of stainless steel	100.00	(Note 2) 100.00	(Note 2) 100.00
      	Cogne Edelstahl Gmbh	Sale of stainless steel	100.00	100.00	100.00
      	Cogne SG Pte. Ltd.	Sale of stainless steel	100.00	100.00	100.00
      	Cogne Hong Kong Limited	Investment holding	100.00	100.00	100.00
      	Cogne U.K. Limited	Sale of stainless steel	100.00	100.00	100.00
      	Cogne Stainless Bars SA	Manufacture and sale of stainless steel	100.00	100.00	100.00
      	Cogne Mexico Sociedad Anonima de Capital	Manufacture and sale of stainless steel	82.53	82.53	82.53
      	Variable
      Metalinox Cogne Acos Inoxidaveis Especiais Sale of stainless steel			100.00	100.00	100.00
      	Ltda
      Cogne Speciality Steel USA, Inc.		Sale of stainless steel	100.00	100.00	100.00
      Cogne Celik Sanayi ve Ticaret Limited		Sale of stainless steel	100.00	100.00	100.00
      Şirketi
      Dong Guan Cogne Steel Products Co., Ltd.		Manufacture and sale of stainless steel	100.00	100.00	100.00
      Special Melted Products Limited		Manufacture and sale of high-quality special	100.00	100.00	100.00
      		steels and nickel-based alloys
      Degerfors Long Products AB		Sale of special steel	100.00	100.00	100.00
      Com. Steel Inox S.p.A.		Stainless steel and nickel-based alloy	65.00	65.00	-
      	DMV GmbH	recycling and processing Investment holding	100.00	(Note 5) 100.00	-
      				(Note 7)
      Cogne Stainless Bars SA	Aosta Servizi Generali S.r.l.	Machinery and Electrical maintenance	100.00	100.00	100.00
      	Cogne Mexico Sociedad Anonima de Capital	Manufacture and sale of stainless steel	0.0002	0.0002	0.0002
      	Variable
      DMV GmbH DMV Deutschland Gmbh Manufacturing of stainless steel and 100.00				100.00	-
      nickel-based alloy tubes DMV France S.A.S. Manufacturing of stainless steel and 100.00				(Note 8) 100.00	-
      nickel-based alloy tubes DMV SOTEP S.A.S. Manufacturing of stainless steel and 100.00				(Note 8) 100.00	-
      nickel-based alloy tubes DMV Italia S.R.L. Manufacturing of stainless steel and 100.00				(Note 8) 100.00	-
      nickel-based alloy tubes DMV USA, Inc. Manufacturing of stainless steel and 100.00				(Note 8) 100.00	-
      nickel-based alloy tubes PT. Walsin Nickel Industrial PT. Walhsu Metal Industry Manufacture and sale of nickel matte 0.10				(Note 8) 0.10	0.10
      Indonesia					(Note 4)
      PT. Sunny Metal Industry PT. Walhsu Metal Industry Manufacture and sale of nickel matte			99.90	99.90	99.90
      Hangzhou Walsin Power Cable Hangzhou Futong Electric Industries Co., Manufacture and sale of cables and wires			51.00	51.00	(Note 4) 51.00
      & Wire Co., Ltd.	Ltd.
      Yantai Walsin Stainless Steel Yantai Huaxin Recycling Resources Co., Ltd. Recycling of renewable resources Co., Ltd.			100.00 (Note 9)	-	-

      Min Maw Precision Industry Corp. (Min Maw)

      PT. Walsin Research Innovation Indonesia Consulting and management 0.33 0.33 0.50

      (Concluded) Note 1: On August 2, 2024, WLC's board of directors resolved to adjust the investment structure in

      MEG S.A., resulting in an increase in the shareholding percentage from 90.21% to 100.00%.

      Note 2: On August 2, 2024, WLC's board of directors resolved to adjust the investment structure in Cogne Acciai Speciali S.p.A., resulting in a decrease in the shareholding percentage from 77.60% to 70.00%.

      Note 3: The Group established Cleanleaf Energy Holdings, Inc. on September 14, 2023, and injected capital on January 1, 2024. Due to the employees exercised their share options, Cleanleaf Energy Holdings, Inc. decreasing its continuing interest from 100% to 83.45% in 2025.

      Note 4: On February 23, 2024, WLC's board of directors approved to increase capital in cash of PT. Walhsu Metal Industry, and the capital increase base date was on March 28, 2024.

      Note 5: Cogne Acciai Speciali S.p.A. acquired 65.00% shares of Com.Steel Inox S.p.A. for a consideration of NT$841,200 thousand on May 3, 2024. This transaction was classified as a business combination. Please refer to Note 32.

      Note 6: On September 26, 2024, WLC's board of directors approved an increase in capital through cash for PT. Walsin Research Innovation Indonesia, and the capital increase base date was on October 9, 2024.

      Note 7: Cogne Acciai Speciali S.p.A. acquired 100.00% shares of DMV GmbH for a consideration of NT$4,020,514 thousand on November 1, 2024. This transaction was classified as a business combination. Please refer to Note 32 of the consolidated financial statements for the year ended December 31, 2024.

      Note 8: The subsidiaries of DMV GmbH were merged into the Group in November 2024 as part of the above-mentioned business combination.

      Note 9: The Group established Yantai Huaxin Recycling Resources Co., Ltd. on November 21, 2024, and injected capital on March 4, 2025.

      Note 10: The Group established Walsin Lihwa Italy S.r.l. on March 11, 2025.

   2. The following entity was excluded from consolidation as of March 31, 2025, December 31, 2024 and March 31, 2024:

      Percentage of Ownership (%)

      			March 31,	December 31,	March 31,
      Investor	Investee	Main Business	2025	2024	2024	Note

      WLHL Walcom Chemicals Industrial Limited Commerce - - 65.00 Note

      Note: The investee has a capital of HK$500 thousand and total assets of HK$1 thousand. As of March 31, 2025, December 31, 2024 and March 31, 2024, the investee had no sales, and its total assets were less than 1% of the Group's consolidated total assets. In 2024, the subsidiary executed the liquidation procedures, with September 27, 2024 set as the liquidation date.

      The financial statements of certain subsidiaries included in the consolidated financial statements, namely, P.T. Walsin Lippo Industries, Walsin Precision Technology Sdn, Bhd., Cogne Acciai Speciali

      S.p.A. and subsidiaries for the three months ended March 31, 2025 were not reviewed by the auditor of WLC but by other auditors. The financial statements of P.T. Walsin Lippo Industries, Walsin Precision Technology Sdn, Bhd., Cogne Acciai Speciali S.p.A. and subsidiaries, and Walsin America LLC's subsidiary Borrego Energy Holdings, LLC for the three months ended March 31, 2024 were not reviewed by the auditor of WLC but by other auditors. As of March 31, 2025 and 2024, the combined total assets of these subsidiaries were NT$44,879,731 thousand and NT$39,489,227 thousand, respectively; for the three months ended March 31, 2025 and 2024, the combined net operating revenues of these subsidiaries were NT$7,613,909 thousand and NT$8,347,927 thousand, respectively.

3. INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD

   Investments in associates:

   March 31, 2025 December 31, 2024 March 31, 2024

   Ownership

   Ownership

   Ownership

   Name of Associate	Carrying Amount	Percentage (%)	Carrying Amount	Percentage (%)	Carrying Amount	Percentage (%)
   Material associates
   Winbond Electronics Corp.	$ 20,034,528	22.11	$ 20,303,647	22.11	$ 20,042,062	21.99
   Walton Advanced Engineering, Inc.	2,260,924	21.17	2,164,134	21.17	2,244,845	21.17
   Walsin Technology Corp.	9,053,701	18.30	9,047,293	18.30	8,928,437	18.30
   Associates that are not individually material
   Others	8,490,996		8,333,599		12,707,577
   	$ 39,840,149		$ 39,848,673		$ 43,922,921

   Refer to Table 6 "Information on Investees" and Table 7 "Information on Investments in Mainland China" for the nature of activities, principal places of business and countries of incorporation of the associates.

   The Group is the single largest shareholder of the abovementioned material associates in which the Group has an ownership percentage of less than 50%. Considering the relative size and wide dispersion of the voting rights owned by other shareholders, the Group has no ability to direct the relevant activities of the associates and therefore has no control over these associates.

   Fair values (Level 1) of investments in associates with available published price quotation are summarized as follows:

   Name of Associate March 31, 2025 December 31, 2024 March 31, 2024

   Winbond Electronics Corp.	$ 17,462,259	$ 14,726,008	$ 25,007,136
   Walton Advanced Engineering, Inc.	$ 1,447,095	$ 1,529,316	$ 1,962,348
   Walsin Technology Corp.	$ 7,690,051	$ 8,223,465	$ 10,045,963

   All the associates were accounted for using the equity method.

   In January 2024, WLC disposed of its entire 29.5% shareholding in the associate PT. Westrong Metal Industry for total proceeds of US$146,000 thousand.

   In June 2024, WLC disposed of part of its shareholding in the associate Innovation West Mantewe Pte. Ltd., reducing its ownership from 40.00% to 20.00%. The total proceeds amounted to US$58,652 thousand.

   In July 2024, WLC disposed of its 29.17% shareholding in the associate PT. CNGR Walsin New Mining Industry Investment Indonesia for total proceeds of US$1,459 thousand.

   In July 2024, WLC disposed of its 29.17% shareholding in the associate PT. CNGR Walsin New Energy and Technology Indonesia for total proceeds of US$9,356 thousand.

   In August 2024, WLC purchased of its 29.50% shareholding in the associate PT. Walsin Everising Specialty Steel Indonesia for a total purchase of US$6,151 thousand.

   In March 2025, WLC purchased of its 32.50% shareholding in the associate Advanced Manufacturing Holdings Limited for a total purchase of GBP3,071 thousand.

   The Group's share of profit and other comprehensive income of associates for the three months ended March 31, 2025 and 2024 were based on the associates' financial statements reviewed by independent auditors for the same period.

   17. PROPERTY, PLANT AND EQUIPMENT
   			March 31,	December 31,		March 31,
   			2025	2024		2024
   Assets used by the Group			$ 86,216,127	$ 84,592,885		$ 82,386,367
   		Buildings and	Machinery and		Construction in
   	Land	Improvements	Equipment	Other Equipment	Progress	Total
   Cost
   Balance at January 1, 2025	$ 4,302,092	$ 37,279,782	$ 77,606,637	$ 13,372,278	$ 11,832,093	$ 144,392,882
   Additions	-	35,040	1,098,306	194,182	765,323	2,092,851
   Disposals	-	(13,912)	(112,350 )	(22,292)	(28)	(148,582)
   Effects of foreign currency exchange differences	3,651	524,647	1,334,410	123,423	158,923	2,145,054
   Balance at March 31, 2025	$ 4,305,743	$ 37,825,557	$ 79,927,003	$ 13,667,591	$ 12,756,311	$ 148,482,205
   Accumulated depreciation
   and impairment
   Balance at January 1, 2025	$ 8,067	$ 13,399,650	$ 39,052,334	$ 7,339,946	$ -	$ 59,799,997
   Depreciation expenses	-	392,050	1,021,779	211,973	-	1,625,802
   Disposals	-	(11,957 )	(104,722)	(20,980)	-	(137,659)
   Impairment losses reversed	-	-	-	(54)	-	(54)
   Effects of foreign currency exchange differences	-	201,269	719,048	57,675	-	977,992
   Balance at March 31, 2025	$ 8,067	$ 13,981,012	$ 40,688,439	$ 7,588,560	$ -	$ 62,266,078
   Carrying amount at March 31, 2025	$ 4,297,676	$ 23,844,545	$ 39,238,564	$ 6,079,031	$ 12,756,311	$ 86,216,127
   Cost
   Balance at January 1, 2024	$ 4,000,385	$ 30,062,463	$ 66,580,327	$ 12,003,844	$ 15,947,767	$ 128,594,786
   Additions	113,828	112,829	175,515	49,414	2,545,203	2,996,789
   Disposals	-	-	(71,710 )	(34,113 )	-	(105,823 )
   Acquisition through business
   combinations -		1,268,320	1,726,483	424,506	11,418	3,430,727
   Reclassified -		(312,547 )	177,017	29,877	(257,462 )	(363,115)
   exchange differences 356		866,205	1,307,612	301,329	345,833	2,821,335
   Balance at March 31, 2024 $ 4,114,569		$ 31,997,270	$ 69,895,244	$ 12,774,857	$ 18,592,759	$ 137,374,699
   Accumulated depreciation
   and impairment
   Balance at January 1, 2024	$ 8,067	$ 10,981,058	$ 32,552,709	$ 6,347,521	$ - $ 49,889,355
   Depreciation expenses	-	346,756	1,174,744	204,690	- 1,726,190
   Capitalized depreciation expense	-	-	373	137	- 510
   Disposals	-	-	(69,329 )	(33,410 )	- (102,739 )
   Acquisition through business
   combinations -		662,529	1,620,026	380,844	-	2,663,399
   Impairment losses reversed -		-	-	(42)	-	(42)
   exchange differences -		220,142	460,597	130,920	-	811,659
   Balance at March 31, 2024 $ 8,067		$ 12,210,485	$ 35,739,120	$ 7,030,660	$ -	$ 54,988,332
   Carrying amount at March 31, 2024 $ 4,106,502		$ 19,786,785	$ 34,156,124	$ 5,744,197	$ 18,592,759	$ 82,386,367

   Effects of foreign currency

   Effects of foreign currency

   1. Apart from the machinery equipment of the resource department, the property, plant and equipment of the Group are depreciated on a straight-line basis over their estimated useful lives as follows:

Buildings and improvements 3-50 years

Machinery and equipment 3-20 years

Other equipment 3-15 years