Ticker: 2308

Delta's Americas headquarters has become the first LEED Zero Energy-certified green building in Fremont, CA

DELTA ELECTRONICS, INC.

2023 ANNUAL REPORT

Company Website: www.deltaww.com

Taiwan Stock Exchange Market Observation Post System:
http://mops.twse.com.tw
Printed on April 9, 2024
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 Awards and Honors

Top 100 Global Innovators Award Best Taiwan Global Brands The Taiwan Corporate Sustainability
Award

Selected as one of the "Best Taiwan Global Delta received 8 major awards at the Taiwan
Selected by Clarivate among its Top 100
Brands" for the 13th consecutive year Corporate Sustainability Awards and the Global
Global Innovators™ for 3 consecutive years
Corporate Sustainability Award held by the
Taiwan Institute for Sustainable Energy in 2023

Dow Jones Sustainability Indices

• Listed on the Dow Jones Sustainability World Index for 13 consecutive years
• Highest overall score in Electronic Equipment, Instruments & Components
industry in the Dow Jones Sustainability Indices (DJSI) for 7 years
• Listed in the Dow Jones Sustainability Emerging Markets Index for 11
consecutive years
• Delta Electronics (Thailand) was listed in the Dow Jones Sustainability
World Index

CDP
• Awarded CDP Climate Change Leadership for the 8th time
• Awarded CDP Water Security A List (2020-2023)
• Awarded CDP Supplier Engagement Leader(2017-2023)

Morgan Stanley ESG Leaders Indexes

• Selected consecutively for the MSCI ACWI ESG Leaders Index
• Selected consecutively for the MSCI Emerging Markets ESG Leaders Index
• Selected consecutively for the MSCI Taiwan ESG Leaders Index

FTSE4Good Index Series

• Selected consecutively for the FTSE4Good Emerging Indexes
• Selected as a constituent of FTSE4Good TIP Taiwan ESG Index (compiled by
Taiwan Index Plus Corporation and FTSE Russell)
Table of Content

1. Letter to the Shareholders 

2. Company Profile 

3. Corporate Governance Report 

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003
 demand for advanced power supply systems capable of
1. Letter to the delivering higher instantaneous power, high power
density, and superior efficiency. Leveraging our expertise
Shareholders in key technologies, Delta is undeniably a leader in
comprehensive power solutions. This includes 18kW
power shelves and thermal solutions that comply with the
Open Compute Project (OCP) and the latest Open Rack
version 3 (ORV3), which boast over 97.5% peak
efficiency. Delta provides high efficiency and energy-
saving power supply for data center servers, networking
equipment and AI servers. In addition, we have
developed an innovative DC voltage converter for AI
GPUs with a power density of up to 5,300 watts per cubic
inch and an ultra-high energy conversion efficiency of
98.3%. This translates to efficient delivery of the high
instantaneous DC power required by AI CPUs, GPUs,
and xPUs.
Within the automotive industry, Delta supplies a
Chairman Yancey Hai wide range of components, including fans, magnetic
components and passive components. In 2023, we
Dear Shareholders： further strengthened our product portfolio by acquiring the
German TB&C and its subsidiaries for 142 million euros.
Over the past year, Delta has faced a global By integrating our core competence in power electronics
economic environment filled with both opportunities and technology with TB&C’s cutting-edge technology and
challenges. Global inflation, rising interest rates, extensive experience in high-voltage hybrid components,
international conflicts such as the wars in Russia- Delta is poised to accelerate our growth in the electric
Ukraine and Israel-Palestine, a slowdown in China’s vehicle (EV) market and create long-term value for
economic growth, and heightened tensions between the shareholders.
U.S. and China have influenced our operations With the explosive growth of the EV market, the EV
throughout 2023. Amid a volatile environment, Delta Solutions Business Group has become one of the
adheres to a sound strategy and focus on sustainable Company’s critical drivers in recent years. Delta’s power
development and stable profitability. management system has established a clear advantage
In 2023, with the collective efforts of all members over competitors in terms of product development
of Delta, our consolidated revenue was NT$401.2 billion, schedule, power efficiency, and power density, which
a 4.4% increase from the previous year; gross profit was have secured numerous orders from top-tier international
NT$117.2 billion with a gross profit margin of 29.2%; net automakers. This dominance extends beyond power
operating profit was NT$40.9 billion with a net profit systems, as Delta’s built-in drive traction motors have
margin of 10.2%; net income after tax was NT$33.4 also been adopted by these same leading automakers for
billion with a net after-tax profit margin of 8.3%; EPS was their high-level EV models. In addition, Delta’s
NT$12.86 and return on equity (ROE) ratio was 17.3%. commitment to providing safer and more efficient traction
Here is a summary of the performance and status of motors has made it the first company in Taiwan to receive
Delta’s core business categories in 2023. ASPICE CL3 certification for the automotive industry in
2023.
Power Electronics
With over 50 years of expertise in Power Automation
Electronics, Delta relentlessly invests in R&D. Each year, In response to the goal of net-zero carbon emissions,
it develops innovative and advanced power Delta made significant strides in industrial and building
management technologies, maintaining its leadership in automation solutions in 2023. A prime example is our
power management and heat dissipation solutions. supervisory control and data acquisition system,
Delta’s diverse power products and system solutions VTScada, which was implemented in a South African
span a wide range of global applications, including metallurgical plant to assist customers in establishing an
artificial intelligence (AI), cloud computing, edge efficient monitoring and control system.
computing, information and communications technology Within the demanding metallurgical industry, our
(ICT), industrial, aerospace, medical, lighting, and home customers face challenges such as highly energy-
appliances. consuming, operational risks and capital intensive issues.
In recent years, due to the development of AI By introducing Delta’s VTScada system, we have helped
technology, there has been a surge in various cloud and our customers integrate various plant equipment, which
edge computing applications and devices such as AI have improved the feed rate tolerance to within 1%.
servers, AI computers, smart edge devices, and others. Additionally, the system’s robust redundancy and alarm
This has resulted in increased AI computing power system ensure the safety and stability of equipment

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3. Corporate Governance Report
3.1 Organization
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3.1.1 Organization chart April 9,2024

Shareholders
Meeting

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Asia
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Delta Solution
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Europe Mobility Manufacturing
Corp. Brand
Global Communications Management
Infrastructure Supply Chain
Americas Management NBD
HR
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Automation
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 3.3 Remuneration paid during the most recent fiscal year to directors, the presidents and vice-presidents

3.3.1 Remuneration paid to directors and independent directors

Unit: NT$1,000

Directors Remuneration

Remuneration (A) Pension Remuneration to Directors(C) Allowances (D) Amount and Ratio of total A, B, C

(Note 2) (B) (Note 3) (Note 4) and D to Net Income (Note 10)

All Companies All Companies All Companies All Companies

Name All Companies
Title in the in the in the in the
(Note 1) in the
The Consolidated Consolidated Consolidated Consolidated
The Company The Company The Company The Company Consolidated
Company Financial Financial Financial Financial
Financial
Statements Statements Statements Statements
Statements
(Note 7) (Note 7) (Note 7) (Note 7)

Bruce CH Cheng
Yancey Hai
Mark Ko
Director Ping Cheng 0 0 0 0 45,660 47,106 2,423 2,459 48,083 49,565
Simon Chang 0.14% 0.15%

Victor Cheng
Shan-Shan Guo
Shyue-Ching Lu

Ji-Ren Lee
Independent
Rose Tsou 0 0 0 0 16,000 16,500 0 18 16,000 16,518
Director
0.05% 0.05%
Jack J.T. Huang

Audrey Tseng

028
 Remuneration Received as Employee

Salary, Bonus and Special Amount and Ratio of total A, B, Remunera-

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(F)
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All
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(Note 7) (Note 7) (Note 11)
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Bruce CH Cheng
Yancey Hai
Mark Ko
Director Ping Cheng 79,767 79,767 629 629 149,994 0 170,343 0 278,473 300,304 1,955
Simon Chang 0.83% 0.90%

Victor Cheng
Shan-Shan Guo
Shyue-Ching Lu

Ji-Ren Lee
Independent
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Director
0.05% 0.05%
Jack J.T. Huang

Audrey Tseng
1. Directors and Independent Directors’ remuneration policies, procedures, standards and structure, as well as the linkage to responsibilities, risks and time spent:
Pursuant to Article 30 of the Article of Incorporation of the Company, if the Company makes a profit for the current year, the Board of Directors shall resolve on the allocation of at least 3% of the profit as employee compensation and
no more than 1% as the compensation for directors. Remuneration for directors of the Company shall be evaluated by the Compensation Committee according to their respective participation in the operation of the Company and
value of contribution, the practice of the Company’s core values, familiarity with the goals and missions of the Company, awareness of the duties of a director, management and communication of internal relationship, director’s
professional and continuing education as well as internal control. The Board of Directors is authorized to determine their remuneration according to the evaluation conducted by the Compensation Committee and general standard in
the same industries. For example, the Chairman should be responsible for the board operations and corporate governance evaluation results, the connection of shareholders’ interests (TSR, ROE), the accomplishment of RE 100
and other ESG indicators, and has added long-term indicators (PE Ratio, ROE) and long-term incentive bonuses with reference to the Company’s long-term incentive mechanism for the managements, which will be calculated as
phantom stocks starting from 2022 and the phantom stocks allocated from 2022 to 2024 will be paid in cash in 2025. Remuneration for independent directors may be different from non-independent directors. The remuneration for
the independent director who is serving as the chairperson of a functional committee can be higher than other independent directors.
2. In addition to the above remuneration, director remuneration shall be disclosed when received from companies listed in the consolidated financial statements and reinvestment companies in the most recent year to compensate for
their services, such as being independent consultants, etc.: None.

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3.3.3 Remuneration paid to the President and Vice-Presidents
Unit: NT$1,000

Bonus and Special Amount and Ratio of total (A), (B),

Salary (A) Employee Bonus (D)
Pension(B) Allowances (C) and (D) to Net Income (%)
(Note 2) (Note 4) Remuneration from
(C) (Note 3) (Note 8)
Invested Companies
All Companies in All Companies in All Companies in All Companies in The
Title Name Other Than Subsidiaries
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Financial Financial Financial Financial Statements Consolidated
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Statements Statements Statements (Note 5) Financial Statements

(Note 5) (Note 5) (Note 5) Cash Stock Cash Stock

Chairman of
Strategic
Mark Ko
Steering
Committee
CEO and Vice-
Chairman of
Strategic Ping Cheng 58,709 58,709 413 413 1,080 1,116 122,850 0 136,416 0 183,052 196,654 60
Steering 0.55% 0.59%
Committee
President,
COO and
Simon Chang
Branch
Manager
❖ Job positions equivalent to the president and vice-presidents (ex: presidents, CEO, executive presidents, etc.) should be disclosed whatever their titles are.

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3.4.10 Internal control system implementation

3.4.9.1. Statement on Internal Control

Delta Electronics, Inc.

Internal Control System Statement

Date: February 29, 2024

Based on the findings of a self-evaluation, Delta Electronics, Inc. states the following in regards to its internal
control system during the year 2023:
1. The Company is aware that the establishment, implementation and maintenance of the internal control
system is the responsibility of the Board of Directors and the managers of the Company. The Company has
established the system for the purpose of guaranteeing the effectiveness and efficiency of the operation
(including profitability, performance, asset security, etc.), the reliability, timeliness and transparency of
reporting, and full compliance with relevant laws and regulations.
2. An internal control system has inherent limitations. No matter how perfectly designed, an effective internal
control system can only provide reasonable assurance of accomplishing the three aforementioned
objectives. Moreover, the effectiveness of an internal control system may be subject to changes due to
extenuating circumstances beyond our control. Nevertheless, our internal control system contains self-
monitoring mechanisms, and the Company takes immediate remedial actions in response to any identified
deficiencies.
3. The Company evaluates the design and operating effectiveness of its internal control system based on the
criteria provided in the Regulations Governing the Establishment of Internal Control Systems by Public
Companies (herein below, the Regulations). The criteria adopted by the Regulations identify five key
components of managerial internal control: i. control environment, ii. risk assessment, iii. control activities,
iv. information and communication, and v. monitoring activities. Each component includes a number of
items. Please see the Regulations for rules of the aforementioned items.
4. The Company has evaluated the design and operating effectiveness of its internal control system
according to the aforesaid internal control criteria.
5. Based on the findings of such evaluation, the Company believes that, on December 31, 2023, it has
maintained, in all material respects, an effective internal control system (that includes the supervision and
management of our subsidiaries), to provide reasonable assurance on our operational effectiveness and
efficiency, reliability, timeliness, transparency of reporting, and compliance with applicable laws and
regulations.
6. This Statement is an integral part of the Company’s annual report for the current period and prospectus,
and will be made public. Any falsehood, concealment, or other illegality in the content made public will
entail legal liability under Articles 20, 32, 171, and 174 of the Securities and Exchange Act.
7. This statement was approved by the Board of Directors in their meeting held on February 29, 2024, with
all of its twelve attending directors affirming the content of this Statement.

Delta Electronics, Inc.

Chairman: Yancey Hai

President: Simon Chang

3.4.9.2. If CPAs are engaged to review the internal control system, their report shall be disclosed: None.

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Directors oversees and supervises the progress of sustainable development strategies and projects and provides
guidance.

4.1.3 International Sustainability Initiatives

Companies play a critical role in sustainable development. Delta has long focused on the development of various
international sustainability initiatives and has identified climate change as a core issue that is consistent with Delta’s
ideals. Delta therefore regards climate change as an extension of the Company’s sustainability commitments and
actively participates in initiatives to maximize the effects of company strategy. Delta participates in important
international initiatives, including the We Mean Business initiative, committing to adopting a science-based carbon
emissions reduction target, reporting climate change information in mainstream reports as a fiduciary duty, engaging
in a responsible corporate climate policy, and conversion to electric vehicles and expansion of charging facilities, in
response to the initiatives promoted by climate organizations EV100 and RE100. Delta also continues its commitment
to the SBTi’s Net-Zero target and became a member of the TNFD Forum in the year 2023. For details on the progress
of the commitments, please refer to the 2023 Delta ESG Report.

4.1.4 Stakeholder Communication Platform and Issues of Concern

Delta’s Sustainability Committee aligns its stakeholder engagement activities with the international standard AA1000
SES, while also considering domestic and international trends in sustainability issues and operational needs. It
defines key stakeholders, such as employees, investors, media, customers, suppliers, and communities (including
research institutions, non-profit organizations, communities, and other relevant stakeholders). And annually, in the
first quarter, the status of stakeholder engagement is reported to the Board, compiling the stakeholder
communication platform and issues of concern as follows:
Communication
Communication Platform Issues of Concern
Target

 Labor-Management Meetings (quarterly)  Innovative Products and Services

 Employee Welfare Committee (intermittently)  Code of Conduct
 Occupational Safety and Health Committee (quarterly)  Occupational Safety and Health
Employees  Occupational Health and Safety Consultation Meetings (annually)  Human Rights and Labor Relations
 Employee Engagement Survey (every two years)  Customer Relations Management
 Delta Corporate Website (intermittently)
 Employee Feedback Mailbox (intermittently)

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101
4.2.1.3 Greenhouse Gas Inventory and Management
- Since 2010, Delta has been participating in the CDP and disclosing its greenhouse gas emissions. Since
2017, overall production plants have been annually verified according to ISO 14064-1 standards. Additionally,
since 2022, global operation sites have been undergoing annual verification according to ISO 14064-1
standards.
- Delta’s carbon reduction strategy includes promoting energy conservation projects, adopting renewable
energy, promoting green buildings, investing in low-carbon innovation, investing in carbon offsetting and
permanent carbon removal, and accelerating carbon reduction through internal carbon pricing mechanisms.
- In 2023, the global operation sites Scope 1 and 2 greenhouse gas emissions (market-based) amounted to
132,275 metric tons of carbon dioxide equivalent*, representing a reduction of 39.0%* compared to the base
year’s emissions of 216,891 metric tons of carbon dioxide equivalent. Additionally, the Scope 3 greenhouse
gas emissions amounted to 7,160,049 metric tons of carbon dioxide equivalent*, reflecting an increase of
37.6%* compared to the base year’s emissions of 5,203,942 metric tons of carbon dioxide equivalent.
The historical greenhouse gas emissions data for global operation sites are presented in the following table:
Items 2022 2023

Scope 1 and 2 Greenhouse Gas Emissions (tons CO2e) – Location-based 434,254 490,474*

Scope 1 and 2 Greenhouse Gas Emissions (tons CO2e) – Market-based 187,645 132,275*

Carbon Intensity (tons CO2e /production value in MUSD) – Market-based 17.1 11.3*

Scope 3 Greenhouse Gas Emissions (tons CO2e) 6,963,292 7,160,049*

*The greenhouse gas emissions data from Delta's global operation sites for the year 2023 are currently undergoing assurance.

4.2.1.4 Establishing a forward-thinking internal carbon pricing mechanism to drive low-carbon innovation
Since 2021, Delta has implemented an internal carbon pricing mechanism, charging business groups and units
US $300 per metric ton of carbon emitted. The collected carbon fees are allocated to a carbon fund, which
incentivizes investments in carbon reduction initiatives across global operation sites, including renewable
electricity and energy technology development, energy and resource management, low-carbon innovations, and
initiatives.

102
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103
towers, canteen, and daily general sanitation for cleaning bathrooms. All waste (sewage) water from Delta’s global
operation sites is either properly treated by suitable wastewater treatment facilities, or directly discharged to waste
(sewage) water plants designated by the local management center. The discharged water quality complies with
current regulatory standards, and regular wastewater testing is conducted to ensure minimal environmental impact
on surrounding water bodies.
Delta’s global operation sites water withdrawn status is as follows:
Year 2022 2023

Total Water Withdrawn (Megaliters) 4,306.6 4,070.7

In terms of management goals, Delta commits to using the year 2020 as the base year. By the year 2025, Delta
pledges to decrease water intensity by 10%. Delta ESG Committee receives regular reports on the achievements in
water conservation. Each year, the water-saving effectiveness will be verified by a third-party entity to ensure data
quality. Please refer to the 2023 Delta ESG Report for detailed information.
Achievement
Water Conservation Goal Water Conservation Action Plan
Status

Water Productivity Intensity for overall production plants*1 (WPI) = Total 2023: ⭣ 26.9% • Installation of Water for Machinery Cooling
annual water consumption (in tons) / Total production value (in million Achieved to Enhance Circulation Systems
US dollars) • Reclamation and Reuse of Concentrated
• 2023: Decreased by 6% compared to the base year 2020. Effluent in Potable Water Systems
• 2025: Decreased by 10% compared to the base year 2020. • Development of Integrated Pre- and Post-
Plating Treatment Machine

Water Consumption Intensity for Buildings*2 (WCI) = Annual Total 2023: ⭣ 18% • Upgrading Fishpond Filtration System to
Water Bill Consumption (Tons) / Population Achieved Reduce Water Replacement Frequency
• 2023: Decreased by 6% compared to the base year 2020. • Improvement of Water Conservation in
• 2025: Decreased by 10% compared to the base year 2020. High-level Water Tanks in Dormitory

*1. Overall production plants: Dongguan, Wujiang, Wuhu, and Chenzhou Plants in Mainland China; DET plant 1, 3, 5, 6 and 7; Taoyuan Plant 1, Taoyuan Plant 2,
Taoyuan Plant 5, and Pingzhen Plant in Taiwan; Cyntec Hsinchu and Huafeng Plants
*2. Building: Ruey Kuang, Yang Guang, Taoyuan Plant 3, Chungli RD, Tainan 1 & 2, and Shanghai Technology Development.

4.2.4 Resources Management

Delta established its “Water Conservation and Waste Reduction Management Committee” in 2016. In order to
achieve sustainable use of resources and ensure proper handling of waste, the Committee analyzed the sources
and types of waste output, and identified potential for reuse by combining respective internal and external resources.
Since 2019, Delta has implemented UL 2799 Zero Waste to Landfill, with the Dongguan and Wujiang plants and
Cyntec Hsinchu and Huafeng plants obtained UL 2799 certification. Continuously striving to enhance waste diversion
rates through reduction, reuse, and recycling, Delta aims to minimize environmental impact, pursue sustainable
resource utilization, and mitigate resource depletion. The target is to achieve a 100% waste diversion rate across
overall production plants by the year 2025.

The global historical waste generation statistics are as follows:

Waste 2022 2023

Non-hazardous waste (tons) 47,773 45,003

Hazardous waste (tons) 6,390 4,301

Total waste generated (tons) 54,163 49,304

Delta actively promotes the circular economy by adopting the Circular Indicator Inventory methodology. Since 2023,
Delta has conducted inventories of 17 circular indicators across all business units under its four major circular
strategies: “Implementation of Circular Design, Circular Procurement and Manufacturing, Provision of Circular
Services, and Creation of Residual Product Value.” These inventories serve as the foundation for setting goals in

104
future circular economy blueprint development. Please refer to the 2023 Delta ESG Report for detailed information.
Objective Achievement Status Action Plan

Waste diversion Rate in Overall 2023: ⭣ 99%  Promoting environmental management involves setting reduction targets
Production Plants: Achieve to minimize the environmental impact of product manufacturing.
2023 - 96%  Promoting the circular economy involves adopting the methodology of
2025 - 100% circular indicator assessment to evaluate and guide the implementation
of circular initiatives.
* Overall production plants: Dongguan, Wujiang, Wuhu, and Chenzhou Plants in Mainland China; DET plant 1, 3, 5, 6 and 7; Taoyuan Plant 1, Taoyuan Plant 2,
Taoyuan Plant 5, and Pingzhen Plant in Taiwan; Cyntec Hsinchu and Huafeng Plants.

4.2.5 Green Products

4.2.5.1 Green Design

- Delta adheres to its corporate mission of “To provide innovative, clean, and energy-efficient solutions for a
better tomorrow” From product design at the source to end-of-life disposal, the entire product lifecycle is
guided by the principles of green design and circular design. Delta continuously develops innovative energy-
saving products and solutions, providing efficient and reliable energy integration solutions and services. Our
strategy includes allocating R&D resources to minimize waste.
- Since 2010, Delta has been systematically conducting product carbon footprint studies using lifecycle
assessment methodologies based on PAS 2050 and ISO 14067 standards. Representative products
selected for these studies include laptop external power adapters, DC fans, and switching power supplies,
and more. Due to the diverse range of products, in the year 2022, the Supply Chain ESG Committee, together
with all the business groups, launched a comprehensive Product Carbon Footprint System project. This
initiative led to the publication of the “Delta Group Product Carbon Footprint Strategy.”
Stages of Product Lifecycle Practices for Reducing Environmental Impacts

Product Design  Considering the Entire Lifecycle (raw materials/energy/water/waste)

 Modular Design

Raw Materials  Lightweight Product Design

 Utilization of Recycled Materials
 Green Supply Chain
 Localization of Raw Materials

Production and Manufacturing  Energy Conservation/Water Conservation/Waste Reduction Solutions

 Resource Circularity
 Utilization of Renewable Electricity

Transportation and Distribution  Adopting green packaging materials

 Design for reduced packaging volume
 Lightweight product design
Usage  Enhancing product energy efficiency

Final Disposal  Utilizing recyclable materials

 Design for product recyclability and ease of disassembly
 Compliance with local environmental regulations (such as the EU WEEE Directive)

4.2.6 Environmental Management

Delta upholds its corporate mission of “To provide innovative, clean and energy- efficient solutions for a better
tomorrow” and has published the Environmental, Safety and Health Policies. Delta’s ISO system implementation team
implements the system in a Plan-Do-Check-Act model, while top management regularly reports on the implementation
to the Board of Directors. Delta’s Overall production plants have passed third party certification of the ISO 14001
Environmental Management System and promote environmentally friendly performance management.
Delta continues to invest in various environmental projects, including low-carbon applications, energy conservation,
water conservation, waste reduction, and others. Low-carbon applications encompass energy storage facilities,
investments in low-carbon transportation (including EVs and charging facilities), electricity attribute certificates (EACs),

105
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 6.5 Labor relations
6.5.1 List any employee benefits plans, continuing education, training, retirement systems, and the status
of their implementation as well as labor-management agreements, and measures for safeguarding
employee rights and interests

6.5.1.1 Implementation of employee benefits plans

Delta continues to build the magnetic reputation for employer brand and to achieve the strategic objective of
sustainable talent development. Fostering a diverse, friendly and high-quality work environment, Delta’s efforts
were recognized on a global scale through numerous awards received in 2023:
⚫ Earned the prestigious “Asia’s Best Employer Award” for a second time from HR Asia (the region’s largest
employer branding award), a testament to the exceptional people-centric culture and positive work
environment.

⚫ Received the “CommonWealth Talent Sustainability Award” and “CommonWealth Education Media and
Publishing Friendly Family Workplace Award” in the CommonWealth Magazine’ first large-scale enterprise
category; dedicated to addressing employee needs through various initiatives, like the corporate fertility
support system and family-friendly work environment, thus creating a culture of shared happiness.

⚫ Achieved eight awards at the 2023 Taiwan Corporate Sustainability Awards, including the “Talent
Development Award” and the “Social Inclusion Award”; committed to sustainable talent development.

⚫ Received the Sports Enterprise Certification from the Sports Administration, Ministry of Education –
Promotes employee health and well-being through sports practices and cultivates a sense of sports
entrepreneurship.

A program called “PULS Strategy Delta+You, Together for Good” launched in 2023, a program combining digital
transformation with diversified integration, while creating innovative employee experiences and promoting health
initiatives that empower employees to thrive personally and professionally.

The “PLUS Strategy Delta+You, Together for Good” program includes the following initiatives:
“Preventive Healthcare”: Holistic health promotion and management, knowledge building and daily
habits for a healthier lifestyle
(1) In 2020, we launched an internal platform using the Knowledge-Attitude-Behavior (KAP) model to share
relevant health information and promote healthy habits. In 2023, we rolled out the monthly “Healthy Wisdom”
and quarterly “Healthy E-Points” programs that effectively addressed common medical misconceptions.
These initiatives had a strong response with an annual total of 26,162 completed trainings and viewers.

141
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 6.6 Cyber Security Management
6.6.1. Organizational Chart of Delta Information Security
The Company has set up an Information Security Steering Committee, chaired by the CEO and with its Chief
Information Officer as the Chief Information Security Officer and senior executives from all global business groups
and regions as Committee members. The Information Security Department has also been established to oversee
Delta’s information security and physical security planning and related audits, and to facilitate the operation of this
Committee. Through quarterly management review meetings, the Information Security Committee reviews the results
of information security risk analysis and the corresponding protective measures and policies adopted by the
Company to ensure the suitability, appropriateness and effectiveness of the ongoing operation of the information
security management system. The Chief Information Security Officer reports annually to the Board of Directors on
the effectiveness of information security management and the direction of the information security strategy to ensure
that information security policies and controls are implemented in Delta’s business units around the world. On April
27, 2023, the Chief Information Security Officer reported to the Board of Directors on the status of information security
governance. The Board also approved the amendments to Delta Group’s Information Security and Personal Data
Protection Policy.

6.6.2. Delta Information Security Policy

Delta continues to refine the information security system and enhance the protection capabilities. It promotes overall
information security governance, establishes a consistent information security policy, and plans Delta Group's
information security management system by forming the Information Security Steering Committee. Delta’s Board of
Directors is responsible for approving the Group’s information security and personal information protection policies,
as well as making decisions on major information security-related issues. All information security management
regulations comply with domestic and international information security laws and regulations. Delta actively seeks to
apply international information security standards and certification to a wider range of areas to integrate information
security practices into the daily operations. This policy is reviewed annually in light of changes in government laws
and regulations, the environment, and business and technology. Any revisions must be approved by the Board of
Directors and announced for implementation. Information security policies and awareness campaigns are conducted
annually for the Group’s employees to enhance information security awareness.

149
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7. Financial Highlights and Analysis
▶ 7.1 Financial statement for the most recent fiscal year

DELTA ELECTRONICS, INC. AND

SUBSIDIARIES
CONSOLIDATED FINANCIAL STATEMENTS AND

INDEPENDENT AUDITORS’ REPORT

DECEMBER 31, 2023 AND 2022

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

153
 INDEPENDENT AUDITORS’ REPORT

To the Board of Directors and Shareholders of Delta Electronics, Inc.

Opinion
We have audited the accompanying consolidated balance sheets of Delta Electronics, Inc. and
subsidiaries (the “Group”) as at December 31, 2023 and 2022, and the related consolidated statements
of comprehensive income, of changes in equity and of cash flows for the years then ended, and notes to
the consolidated financial statements, including a summary of material accounting policies.
In our opinion, based on our audits and the reports of other auditors (refer to the Other matter
section), the accompanying consolidated financial statements present fairly, in all material respects, the
consolidated financial position of the Group as at December 31, 2023 and 2022, and its consolidated
financial performance and its consolidated cash flows for the years then ended in accordance with the
Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International
Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC
Interpretations that came into effect as endorsed by the Financial Supervisory Commission.

Basis for opinion

We conducted our audits in accordance with the Regulations Governing Financial Statement Audit
and Attestation Engagements of Certified Public Accountants and Standards on Auditing of the Republic
of China. Our responsibilities under those standards are further described in the Auditors’ responsibilities
for the audit of the consolidated financial statements section of our report. We are independent of the
Group in accordance with the Norm of Professional Ethics for Certified Public Accountant of the
Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. Based on our audits and the audit reports of other auditors, we believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

154
Key audit matters
Key audit matters are those matters that, in our professional judgment, were of most significance
in our audit of the Group’s 2023 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, we do not provide a separate opinion on these matters.
Key audit matters for the Group’s 2023 consolidated financial statements are stated as follows:
Assessment of the reasonableness of the purchase price allocation for business combination
Description
Refer to Note 4(37) in the consolidated financial statements for the accounting policy on business
combination. Refer to Notes 6(9) and (30) in the consolidated financial statements for the accounting
treatment of business combination and the allocation of purchase price.
In July 2022, the subsidiary of the Company, Delta International Holding Limited B.V., acquired
100% of the share capital of UI Acquisition Holding Co. for NT$2,797,346 thousand. The allocation of
the acquisition price was completed in the first quarter of 2023. The acquisition price and the amount of
intangible assets arising from the business acquisition are significant and the net fair value of identifiable
assets and liabilities and the allocation of intangible assets are based on management’s estimation and
subjective judgement. Thus, we considered the purchase price allocation for the above business combination
a key audit matter.
How our audit addressed the matter
We performed the following procedures for the above key audit matter:
A. Assessed the appropriateness and objectivity of the appraisers appointed by the management.
B. Reviewed identification of intangible assets, fair value measurement of identifiable intangible assets,
discount rates and the reasonableness of goodwill calculation in the purchase price allocation report
prepared by external experts.

155
Intangible Assets - Impairment assessment of goodwill
Description
Refer to Note 4(21) for the accounting policies on impairment of non-financial assets. Refer to
Notes 5(2) and 6(9) for the impairment assessment of goodwill including critical accounting estimates.
As of December 31, 2023, goodwill arising from both the acquisitions of the Company in Cyntec Co.,
Ltd. and Atrust Computer Corporation, and the acquisitions through the Company’s subsidiaries, Delta
International Holding Limited B.V.(DIH) and Delta Electronics (Netherlands) B.V.(DEN), in DELTA
ELECTRONICS (NORWAY) AS, Delta Controls Inc., Delta Greentech (China) Co., Ltd., March
Network Holdings Ltd., Amerlux LLC, and Trihedral Engineering Limited amounted to NT$18,324,143
thousand, constituting 4.00% of the consolidated total assets. As the balance of goodwill acquired from
the merger is material, the assumptions used in assessing goodwill impairment involves material
accounting estimates which are complex and have high uncertainty. Thus, we considered the impairment
assessment of goodwill a key audit matter.

How our audit addressed the matter

We performed the following procedures for the above key audit matter:
A. Understood the process of goodwill impairment assessment, obtained the assessment form provided
by management and assessed whether the valuation models adopted by management are reasonable
for the industry, environment and the valued assets of the Company.
B. Assessed the reasonableness of material assumptions, such as expected future cash flows, expected
growth rates, operating margin and discount rates, by:
(a) Checking the setting of parameters of valuation models and calculation formulas;
(b) Confirming whether the expected future cash flows are in agreement with the budget provided
by the business units;
(c) Comparing the expected growth rate and operating margin with historical data, economic and
industrial forecast documents; and
(d) Comparing the discount rate with cost of capital assumptions of cash generating units and rates
of return of similar assets.

156
C. Performed a sensitivity analysis on the value of significant assumptions to assess the risk of
impairment of goodwill if there is a change in significant assumptions.

Other matter – Reference to the audits of other auditors

We did not audit the consolidated financial statements of certain subsidiaries which were audited
by other auditors. Therefore, our opinion expressed herein, insofar as it relates to the amounts included
in respect of these subsidiaries, is based solely on the reports of the other auditors. Total assets of these
subsidiaries amounted to NT$80,670,851 thousand and NT$81,281,054 thousand, constituting 17.62%
and 19.09% of the consolidated total assets as at December 31, 2023 and 2022, respectively, and the
operating revenue amounted to NT$86,453,765 thousand and NT$76,452,947 thousand, constituting
21.55% and 19.89% of the consolidated total operating revenue for the years then ended, respectively.

Other matter – Parent company only financial reports

We have audited and expressed an unqualified opinion with other matter section on the parent
company only financial statements of Delta Electronics, Inc. as at and for the years ended December 31,
2023 and 2022.

Responsibilities of management and those charged with governance for 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 the International Financial Reporting Standards, International Accounting
Standards, IFRIC Interpretations, and SIC Interpretations that came into effect as endorsed by the
Financial Supervisory Commission, and for such internal control as management determines is necessary
to enable the preparation of consolidated financial statements that are free from material misstatement,
whether due to fraud or error.
In preparing the consolidated financial statements, management is responsible for assessing the
Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern
and using the going concern basis of accounting unless management either intends to liquidate the Group

157
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
Group’s financial reporting process.

Auditors’ responsibilities for the audit of the consolidated financial statements

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
auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a
guarantee that an audit conducted in accordance with the Standards on Auditing of the Republic of China
will always detect a material misstatement when it exists. Misstatements can arise from fraud or error
and are considered material if, individually or in the aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these consolidated financial statements.
As part of an audit in accordance with the Standards on Auditing of the Republic of China, we
exercise professional judgment and professional skepticism throughout the audit. We also:
A. 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;
B. Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Group’s internal control;
C. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management;
D. Conclude on the appropriateness of management’s use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubt on the Group’s ability to continue as a going concern.

158
 If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’
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 auditors’ report. However, future events or conditions may cause the Group to cease
to continue as a going concern;
E. Evaluate the overall presentation, structure and content of the consolidated financial statements,
including the disclosures, and whether the consolidated financial statements represent the
underlying transactions and events in a manner that achieves fair presentation; and
F. Obtain sufficient appropriate audit evidence regarding the financial information of the entities or
business activities within the Group to express an opinion on the consolidated financial statements.
We are responsible for the direction, supervision and performance of the group audit. We 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 the consolidated financial statements of the current year
and are therefore the key audit matters. We describe these matters in our auditors’ report unless law or
regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we
determine that a matter should not be communicated in our report because the adverse consequences of
doing so would reasonably be expected to outweigh the public interest benefits of such communication.
The consolidated financial statements of Delta Electronics, Inc. and subsidiaries as at and for the
year ended December 31, 2023 expressed in US dollars are presented solely for the convenience of the
reader and were translated from the financial statements expressed in New Taiwan dollars using the

159
exchange rate of $30.705 to US$1.00 at December 31, 2023. This basis of translation is not in accordance
with International Financial Reporting Standards, International Accounting Standards, and relevant
interpretations and interpretative bulletins that are ratified by the FSC.

Hsiao, Chun-Yuan Chou, Chien-Hung

for and on behalf of PricewaterhouseCoopers, Taiwan

February 29, 2024

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

160
 DELTA ELECTRONICS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF DOLLARS)

US Dollars New Taiwan Dollars

Assets Notes December 31, 2023 December 31, 2023 December 31, 2022
Current assets
Cash and cash equivalents 6(1) $ 2,848,263 $ 87,455,916 $ 61,546,836
Financial assets at fair value through 6(2)
profit or loss - current 159,716 4,904,074 1,759,612
Financial assets at amortised cost - 8
current 8,454 259,567 265,382
Contract assets - current 6(20) 180,070 5,529,060 4,135,672
Notes receivable, net 6(5) 73,146 2,245,939 3,123,642
Accounts receivable, net 6(5) 2,511,901 77,127,923 84,074,069
Accounts receivable - related parties, 7
net 189 5,801 29,551
Other receivables 7 75,760 2,326,227 2,449,171
Current income tax assets 26,229 805,368 379,086
Inventories 6(6) 2,482,546 76,226,562 79,844,364
Prepayments 97,598 2,996,762 2,690,148
Other current assets 2,442 74,985 152,933
Total current assets 8,466,314 259,958,184 240,450,466
Non-current assets
Financial assets at fair value through 6(2)
profit or loss - non-current 44,533 1,367,375 2,771,627
Financial assets at fair value through 6(3)
other comprehensive income -
non-current 64,974 1,995,030 1,740,553
Contract assets - non-current 6(20) 23,069 708,329 503,403
Investments accounted for under the
equity method 3,238 99,423 92,430
Property, plant and equipment 6(7) and 8 3,191,712 98,001,515 86,266,587
Right-of-use assets 6(8) 157,463 4,834,885 5,086,323
Investment property, net 458 14,070 18,128
Intangible assets 6(9) 2,558,033 78,544,404 77,169,854
Deferred income tax assets 6(27) 287,688 8,833,470 8,175,453
Other non-current assets 6(5)(10)
and 8 110,402 3,389,893 3,598,982
Total non-current assets 6,441,570 197,788,394 185,423,340
Total assets $ 14,907,884 $ 457,746,578 $ 425,873,806

(Continued)

161
 DELTA ELECTRONICS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF DOLLARS)

US Dollars New Taiwan Dollars

Liabilities and Equity Notes December 31, 2023 December 31, 2023 December 31, 2022
Current liabilities
Short-term borrowings 6(11) $ 108,611 $ 3,334,888 $ 2,076,762
Financial liabilities at fair value 6(2)
through profit or loss - current 1,772 54,410 74,232
Contract liabilities - current 6(20) 298,222 9,156,906 7,536,826
Notes payable 148 4,538 1,406
Accounts payable 1,742,264 53,496,221 62,685,739
Accounts payable - related parties 7 1,244 38,185 28,525
Other payables 6(12) and 7 1,443,935 44,336,025 40,718,682
Current income tax liabilities 185,087 5,683,107 5,547,274
Long-term liabilities, current portion 6(14) 82,712 2,539,678 42,424
Other current liabilities 242,325 7,440,595 6,301,558
Total current liabilities 4,106,320 126,084,553 125,013,428
Non-current liabilities
Bonds payable 6(13) 947,728 29,100,000 11,600,000
Long-term borrowings 6(14) 726,931 22,320,422 32,737,342
Deferred income tax liabilities 6(27) 771,145 23,678,006 19,342,795
Lease liabilities - non-current 83,220 2,555,275 2,302,735
Other non-current liabilities 6(15) 367,134 11,272,829 9,510,321
Total non-current liabilities 2,896,158 88,926,532 75,493,193
Total liabilities 7,002,478 215,011,085 200,506,621
Equity
Share capital 6(16)
Common stock 845,967 25,975,433 25,975,433
Capital surplus 6(17)
Capital surplus 1,779,417 54,636,991 49,321,767
Retained earnings 6(18)
Legal reserve 1,161,851 35,674,625 32,386,305
Special reserve 96,684 2,968,678 16,166,722
Unappropriated retained earnings 2,732,577 83,903,789 65,907,358
Other equity interest
Other equity interest ( 130,133) ( 3,995,738) ( 2,968,678)
Equity attributable to owners of
the parent 6,486,363 199,163,778 186,788,907
4(3) and
Non-controlling interest 6(19) 1,419,043 43,571,715 38,578,278
Total equity 7,905,406 242,735,493 225,367,185
Significant contingent liabilities and 9
unrecorded contract commitments
Significant events after the balance 11
sheet date
Total liabilities and equity $ 14,907,884 $ 457,746,578 $ 425,873,806

162
 DELTA ELECTRONICS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
YEARS ENDED DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF DOLLARS, EXCEPT EARNINGS PER SHARE DATA)

US Dollars New Taiwan Dollars

Items Notes 2023 2023 2022
Operating revenue 6(20) and 7 $ 13,067,139 $ 401,226,501 $ 384,443,308
Operating costs 6(6)(25)
(26) and 7 ( 9,249,747) ( 284,013,473) ( 273,670,745)

Gross profit 3,817,392 117,213,028 110,772,563

Operating expenses 6(25)(26)

Selling expenses ( 786,062) ( 24,136,041) ( 22,533,664)
General and administrative expenses ( 519,523) ( 15,951,952) ( 14,896,570)
Research and development expenses ( 1,174,006) ( 36,047,850) ( 31,769,981)
Expected credit impairment loss 12(2) ( 4,147) ( 127,348) ( 133,524)

Total operating expenses ( 2,483,738) ( 76,263,191) ( 69,333,739)

Operating profit 1,333,654 40,949,837 41,438,824

Non-operating income and expenses

Interest income 6(21) 67,420 2,070,115 609,613
Other income 6(22) 144,631 4,440,902 3,360,096
Other gains and losses 6(23) 76,329 2,343,695 1,197,074
Finance costs 6(24) ( 38,128) ( 1,170,718) ( 571,440)
Share of profit of associates and joint
ventures accounted for under the equity
method 270 8,280 31,131

Total non-operating income and

expenses 250,522 7,692,274 4,626,474

Profit before income tax 1,584,176 48,642,111 46,065,298

Income tax expense 6(27) ( 317,921) ( 9,761,744) ( 9,074,560)

Profit for the year $ 1,266,255 $ 38,880,367 $ 36,990,738

(Continued)

163
 DELTA ELECTRONICS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
YEARS ENDED DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF DOLLARS, EXCEPT EARNINGS PER SHARE DATA)

US Dollars New Taiwan Dollars

Items Notes 2023 2023 2022
Other comprehensive income (loss)
Components of other comprehensive
income (loss) that will not be
reclassified to profit or loss
(Loss) gain on remeasurements of
defined benefit plans ($ 6,907) ( $ 212,064) $ 298,222
Unrealised gain on valuation 6(3)
of equity investment at fair value
through other comprehensive
income 11,485 352,641 217,848
Loss on hedging instrument that will not 6(4)
be reclassified to profit or loss ( 5,545) ( 170,271) -
Income tax related to components of 6(27)
other comprehensive income that
will not be reclassified to profit or
loss ( 2,025) ( 62,162) ( 4,296)
Other comprehensive income (loss)
that will not be reclassified to profit
or loss ( 2,992) ( 91,856) 511,774
Components of other comprehensive
income (loss) that will be reclassified
to profit or loss
Financial statements translation
differences of foreign operations ( 19,628) ( 602,681) 17,720,026
Share of other comprehensive loss
of associates and joint ventures
accounted for under the equity
method that will be reclassified to
profit or loss ( 75) ( 2,307) ( 1,788)
Income tax relating to the components 6(27)
of other comprehensive income that
will be reclassified to profit or loss 894 27,444 ( 1,069,086)
Other comprehensive income (loss)
that will be reclassified to profit or
loss ( 18,809) ( 577,544) 16,649,152
Other comprehensive income (loss) for
the year ($ 21,801) ( $ 669,400) $ 17,160,926
Total comprehensive income for the
year $ 1,244,454 $ 38,210,967 $ 54,151,664
Profit attributable to:
Owners of the parent $ 1,087,532 $ 33,392,665 $ 32,665,728
Non-controlling interest $ 178,723 $ 5,487,702 $ 4,325,010
Comprehensive income attributable to:
Owners of the parent $ 1,055,559 $ 32,410,943 $ 46,081,891
Non-controlling interest $ 188,895 $ 5,800,024 $ 8,069,773
Earnings per share
Basic earnings per share 6(28) $ 0.42 $ 12.86 $ 12.58
Diluted earnings per share 6(28) $ 0.42 $ 12.80 $ 12.52

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

164
 DELTA ELECTRONICS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
YEARS ENDED DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF DOLLARS)

Equity attributable to owners of the parent

Retained earnings Other equity interest
Unrealised gain
(loss) on financial
Financial assets measured at
statements fair value through
translation other Gain (loss) on
Share capital - Unappropriated differences of comprehensive hedging Non-controlling
Notes common stock Capital surplus Legal reserve Special reserve retained earnings foreign operations income instruments Total interest Total equity

2022 New Taiwan Dollars

Balance at January 1, 2022 $ 25,975,433 $ 49,114,151 $ 29,697,752 $ 12,543,208 $ 53,622,701 ($ 15,520,287) ($ 776,353) $ 129,917 $ 154,786,522 $ 31,338,136 $ 186,124,658
Profit for the year - - - - 32,665,728 - - - 32,665,728 4,325,010 36,990,738
Other comprehensive income for the year - - - - 209,626 12,990,071 216,466 - 13,416,163 3,744,763 17,160,926
Total comprehensive income for the year - - - - 32,875,354 12,990,071 216,466 - 46,081,891 8,069,773 54,151,664
Distribution of 2021 earnings 6(18)
Legal reserve - - 2,688,553 - ( 2,688,553) - - - - - -
Special reserve - - - 3,623,514 ( 3,623,514) - - - - - -
Cash dividends - - - - ( 14,286,479) - - - ( 14,286,479) - ( 14,286,479)
Changes in ownership interests in subsidiaries - 192,294 - - - - - - 192,294 - 192,294
Difference between consideration and carrying amount of 6(32)
subsidiaries acquired or disposed - 15,322 - - ( 643) - - - 14,679 ( 125,911) ( 111,232)
Disposal of equity investments at fair value through other
comprehensive income - - - - 8,492 - ( 8,492) - - - -
Changes in non-controlling interests - - - - - - - - - ( 703,720) ( 703,720)
Balance at December 31, 2022 $ 25,975,433 $ 49,321,767 $ 32,386,305 $ 16,166,722 $ 65,907,358 ($ 2,530,216) ($ 568,379) $ 129,917 $ 186,788,907 $ 38,578,278 $ 225,367,185
2023 New Taiwan Dollars
Balance at January 1, 2023 $ 25,975,433 $ 49,321,767 $ 32,386,305 $ 16,166,722 $ 65,907,358 ($ 2,530,216) ($ 568,379) $ 129,917 $ 186,788,907 $ 38,578,278 $ 225,367,185
Profit for the year - - - - 33,392,665 - - - 33,392,665 5,487,702 38,880,367
Other comprehensive income (loss) for the year - - - - ( 144,952) ( 954,138) 287,639 ( 170,271) ( 981,722) 312,322 ( 669,400)
Total comprehensive income (loss) for the year - - - - 33,247,713 ( 954,138) 287,639 ( 170,271) 32,410,943 5,800,024 38,210,967
Distribution of 2022 earnings 6(18)
Legal reserve - - 3,288,320 - ( 3,288,320) - - - - - -
Special reserve - - - ( 13,198,044) 13,198,044 - - - - - -
Cash dividends - - - - ( 25,559,802) - - - ( 25,559,802) - ( 25,559,802)
Change in ownership interests in subsidiaries - 31,584 - - - - - - 31,584 - 31,584
Difference between consideration and carrying amount of 6(32)
subsidiaries acquired or disposed - 5,283,640 - - ( 507) 38,742 - - 5,321,875 451,901 5,773,776
Adjustment of profit and loss basis of hedging instruments 6(4) - - - - - - - 170,271 170,271 - 170,271
Disposal of investments in equity instruments designated at fair
value through other comprehensive income - - - - 399,303 - ( 399,303) - - - -
Changes in non-controlling interests - - - - - - - - - ( 1,258,488) ( 1,258,488)
Balance at December 31, 2023 $ 25,975,433 $ 54,636,991 $ 35,674,625 $ 2,968,678 $ 83,903,789 ($ 3,445,612) ($ 680,043) $ 129,917 $ 199,163,778 $ 43,571,715 $ 242,735,493

(Continued)

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 DELTA ELECTRONICS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
YEARS ENDED DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF DOLLARS)

Equity attributable to owners of the parent

Retained earnings Other equity interest
Unrealised gain
(loss) on financial
Financial assets measured at
statements fair value through
translation other Gain (loss) on
Share capital - Unappropriated differences of comprehensive hedging Non-controlling
Notes common stock Capital surplus Legal reserve Special reserve retained earnings foreign operations income instruments Total interest Total equity

2023 US Dollars
Balance at January 1, 2023 $ 845,967 $ 1,606,310 $ 1,054,757 $ 526,518 $ 2,146,470 ($ 82,404) ($ 18,511) $ 4,231 $ 6,083,338 $ 1,256,417 $ 7,339,755
Profit for the year - - - - 1,087,532 - - - 1,087,532 178,723 1,266,255
Other comprehensive income (loss) for the year - - - - ( 4,721) ( 31,075) 9,368 ( 5,545) ( 31,973) 10,172 ( 21,801)
Total comprehensive income (loss) for the year - - - - 1,082,811 ( 31,075) 9,368 ( 5,545) 1,055,559 188,895 1,244,454
Distribution of 2022 earnings 6(18)
Legal reserve - - 107,094 - ( 107,094) - - - - - -
Special reserve - - - ( 429,834) 429,834 - - - - - -
Cash dividends - - - - ( 832,431) - - - ( 832,431) - ( 832,431)
Change in ownership interests in subsidiaries - 1,029 - - - - - - 1,029 - 1,029
Difference between consideration and carrying amount of 6(32)
subsidiaries acquired or disposed - 172,078 - - ( 17) 1,262 - - 173,323 14,718 188,041
Adjustment of profit and loss basis of hedging instruments 6(4) - - - - - - - 5,545 5,545 - 5,545
Disposal of investments in equity instruments designated at fair
value through other comprehensive income - - - - 13,004 - ( 13,004) - - - -
Changes in non-controlling interests - - - - - - - - - ( 40,987) ( 40,987)
Balance at December 31, 2023 $ 845,967 $ 1,779,417 $ 1,161,851 $ 96,684 $ 2,732,577 ($ 112,217) ($ 22,147) $ 4,231 $ 6,486,363 $ 1,419,043 $ 7,905,406

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

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 DELTA ELECTRONICS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF DOLLARS)

US Dollars New Taiwan Dollars

Notes 2023 2023 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Consolidated profit before tax for the year $ 1,584,176 $ 48,642,111 $ 46,065,298
Adjustments
Income and expenses having no effect on cash flows
Depreciation 6(7)(8)(25) 572,450 17,577,068 15,020,243
Amortization 6(9)(25) 130,685 4,012,685 3,915,932
Expected credit impairment loss 12(2) 4,147 127,348 133,524
Net gain on financial assets or liabilities at fair 6(2)(23)
value through profit or loss ( 61,601 ) ( 1,891,458 ) ( 845,835 )
Interest expense 6(24) 38,128 1,170,718 571,440
Interest income 6(21) ( 67,420 ) ( 2,070,115 ) ( 609,613 )
Dividend income 6(22) ( 6,965 ) ( 213,856 ) ( 291,617 )
Share-based payments 6(29) 1,494 45,869 74,885
Share of profit of associates accounted for under the
equity method ( 270 ) ( 8,280 ) ( 31,131 )
Loss (gain) on disposal of property, plant and 6(23)
equipment 6,408 196,768 ( 426,041 )
Gain on disposal of investments 6(23) ( 6,754 ) ( 207,397 ) -
Impairment loss on non-financial assets 6(7)(9)(23) 10,387 318,915 417,151
Changes in assets/liabilities relating to operating
activities
Net changes in assets relating to operating activities
Financial assets mandatorily measured at fair
value through profit or loss 11,035 338,833 381,016
Contract assets ( 29,175 ) ( 895,832 ) ( 586,821 )
Notes receivable 28,585 877,703 296,991
Accounts receivable 235,969 7,245,438 ( 15,664,563 )
Accounts receivable - related parties 774 23,750 ( 1,720 )
Other receivables 1,598 49,058 1,386,552
Other receivables - related parties 14,763 453,284 ( 1,999,190 )
Inventories 134,574 4,132,104 ( 12,320,867 )
Prepayments ( 5,542 ) ( 170,154 ) 194,678
Other current assets 2,962 90,946 ( 55,889 )
Other non-current assets 3,760 115,452 -
Net changes in liabilities relating to operating
activities
Contract liabilities 44,517 1,366,907 1,681,078
Notes payable 102 3,132 966
Accounts payable ( 320,026 ) ( 9,826,389 ) 7,613,266
Accounts payable - related parties 326 10,006 13,502
Other payables 93,691 2,876,788 4,408,169
Other current liabilities 23,365 717,425 1,669,009
Other non-current liabilities 58,425 1,793,941 1,234,960
Cash inflow generated from operations 2,504,568 76,902,768 52,245,373
Interest received 63,477 1,949,060 588,705
Dividends received 6,965 213,859 291,362
Interest paid ( 31,027 ) ( 952,693 ) ( 486,748 )
Income taxes paid ( 228,842 ) ( 7,026,581 ) ( 6,109,584 )
Net cash flows from operating activities 2,315,141 71,086,413 46,529,108

(Continued)

167
 DELTA ELECTRONICS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF DOLLARS)

US Dollars New Taiwan Dollars

Notes 2023 2023 2022
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of financial assets at fair value through other
comprehensive income ($ 15,018 ) ( $ 461,120 ) $ -
Proceeds from disposal of financial assets at fair value
through other comprehensive income 18,049 554,179 81,320
Decrease in financial assets at amortised cost 3,909 120,039 136,488
Increase in financial assets for hedging ( 147,871 ) ( 4,540,389 ) -
Decrease in financial assets for hedging 147,871 4,540,389 -
Net cash flow from acquisition of subsidiaries (net of cash 6(30)
acquired) ( 183,352 ) ( 5,629,812 ) ( 2,625,458 )
Proceeds from disposal of subsidiaries (net of cash 6(31)
disposed) 2,899 89,006 -
Acquisition of property, plant and equipment 6(7) ( 906,359 ) ( 27,829,767 ) ( 21,824,042 )
Proceeds from government grants - property, plant and 6(7)
equipment 443 13,611 11,419
Proceeds from disposal of property, plant and equipment 1,691 51,934 843,099
Proceeds from government grants - Right-of-use assets - - 637,890
Disposal (acquisition) of investment property 132 4,058 ( 4,058 )
Acquisition of intangible assets 6(9) ( 15,303 ) ( 469,890 ) ( 615,536 )
Decrease (increase) in other non-current assets 1,826 56,069 ( 1,360,365 )
Net cash flows used in investing activities ( 1,091,083 ) ( 33,501,693 ) ( 24,719,243 )
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (decrease) in short-term borrowings 6(33) 28,468 874,114 ( 2,320,600 )
Issuance of bonds payable 6(13)(33) 569,940 17,500,000 11,600,000
Proceeds from long-term debts 2,154,385 66,150,386 61,464,441
Repayment of long-term debts ( 2,416,477 ) ( 74,197,912 ) ( 72,643,587 )
Lease principal repayment ( 26,580 ) ( 816,154 ) ( 1,940,165 )
Increase (decrease) in refundable deposits 2,863 87,910 ( 762,527 )
Cash dividends paid 6(18) ( 832,431 ) ( 25,559,802 ) ( 14,286,479 )
Cash dividends paid to minority share interests 6(19) ( 61,734 ) ( 1,895,556 ) ( 739,023 )
Acquisition of ownership interests in subsidiaries 6(32) ( 53 ) ( 1,619 ) ( 111,232 )
Disposal of ownership interests in subsidiaries (without 6(32)
losing control) 240,370 7,380,571 -
Net cash flows used in financing activities ( 341,249 ) ( 10,478,062 ) ( 19,739,172 )
Effects due to changes in exchange rate ( 39,002 ) ( 1,197,578 ) 9,621,090
Net increase in cash and cash equivalents 843,807 25,909,080 11,691,783
Cash and cash equivalents at beginning of year 2,004,456 61,546,836 49,855,053
Cash and cash equivalents at end of year $ 2,848,263 $ 87,455,916 $ 61,546,836

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

168
 DELTA ELECTRONICS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 2023 AND 2022
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

1. HISTORY AND ORGANIZATION

Delta Electronics, Inc. (the Company) was incorporated as a company limited by shares under the
provisions of the Company Law of the Republic of China (R.O.C.). The Company and its subsidiaries
(collectively referred herein as the Group) are global leaders in power and thermal management solutions
and are primarily engaged in the research and development, design, manufacturing and sales of electronic
control systems, DC brushless fans, thermal system, and miniaturization key component, electric vehicle
power supply systems, industrial automation products, digital display products, information products,
communication products, consumer electronics products, energy-saving lighting application, renewable
energy applications, EV charging, energy technology services and consulting services of building
management and control solutions, etc. The Group’s mission statement, to provide innovative, clean and
energy-efficient solutions for a better tomorrow, focuses on addressing key environmental issues such as
global climate change. With the concern for the environment, the Group continues to develop innovative
energy-efficient products and solutions. In recent years, the Group has transformed from a product
provider towards a solution provider and the Group’s business is segregated into power electronics
business, automation business, and infrastructure business.
2. THE DATE OF AUTHORIZATION FOR ISSUANCE OF THE CONSOLIDATED FINANCIAL
STATEMENTS AND PROCEDURES FOR AUTHORIZATION
These consolidated financial statements were authorized for issuance by the Board of Directors on
February 29, 2024.
3. APPLICATION OF NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS
(1) Effect of the adoption of new issuances of or amendments to International Financial Reporting
Standards(“IFRS®”) Accounting Standards that came into effect as endorsed by the Financial Supervisory
Commission (“FSC”)
New standards, interpretations and amendments endorsed by the FSC and became effective from
2023 are as follows:
Effective date by
International Accounting
New Standards, Interpretations and Amendments Standards Board
Amendments to IAS 1, ‘Disclosure of accounting policies’ January 1, 2023
Amendments to IAS 8, ‘Definition of accounting estimates’ January 1, 2023
Amendments to IAS 12, ‘Deferred tax related to assets and liabilities January 1, 2023
arising from a single transaction’
Amendments to IAS 12, ‘International tax reform - pillar two model May 23, 2023
rules’

169
 Except for the following, the above standards and interpretations have no significant impact to the
Group’s financial condition and financial performance based on the Group’s assessment. The related
information and quantitative impact are provided in Note 6(27):
Amendments to IAS 12, ‘International tax reform - pillar two model rules’
The amendments give companies temporary relief from accounting for deferred income taxes arising
from the tax law enacted or substantively enacted to implement the Pillar Two model rules published
by the Organization for Economic Co-operation and Development (OECD). An entity shall neither
recognise nor disclose information about deferred tax assets and liabilities related to Pillar Two
income taxes.
(2) Effect of new issuances of or amendments to IFRS Accounting Standards as endorsed by the FSC but
not yet adopted by the Group
New standards, interpretations and amendments endorsed by the FSC and will become effective from
2024 are as follows:
Effective date by
International Accounting
New Standards, Interpretations and Amendments Standards Board
Amendments to IFRS 16, ‘Lease liability in a sale and leaseback’ January 1, 2024
Amendments to IAS 1, ‘Classification of liabilities as current or January 1, 2024
non-current’
Amendments to IAS 1, ‘Non-current liabilities with covenants’ January 1, 2024
Amendments to IAS 7 and IFRS 7, ‘Supplier finance arrangements’ January 1, 2024
The above standards and interpretations have no significant impact to the Group’s financial condition
and financial performance based on the Group’s assessment.
(3) IFRS Accounting Standards issued by IASB but not yet endorsed by the FSC
New standards, interpretations and amendments issued by IASB but not yet included in the IFRS
Accounting Standards as endorsed by the FSC are as follows:
Effective date by
International Accounting
New Standards, Interpretations and Amendments Standards Board
Amendments to IFRS 10 and IAS 28, ‘Sale or contribution of assets To be determined by
between an investor and its associate or joint venture’ International Accounting
Standards Board
IFRS 17, ‘Insurance contracts’ January 1, 2023
Amendments to IFRS 17, ‘Insurance contracts’ January 1, 2023
Amendment to IFRS 17, ‘Initial application of IFRS 17 and IFRS 9 – January 1, 2023
comparative information’
Amendments to IAS 21, ‘Lack of exchangeability’ January 1, 2025
The above standards and interpretations have no significant impact to the Group’s financial condition
and financial performance based on the Group’s assessment.

170
4. SUMMARY OF MATERIAL ACCOUNTING POLICIES
The principal accounting policies applied in the preparation of these consolidated financial statements
are set out below. These policies have been consistently applied to all the periods presented, unless
otherwise stated.
(1) Compliance statement
The consolidated financial statements of the Group have been prepared in accordance with the
"Regulations Governing the Preparation of Financial Reports by Securities Issuers", International
Financial Reporting Standards, International Accounting Standards, IFRIC® Interpretations, and
SIC® Interpretations that came into effect as endorsed by the FSC (collectively referred herein as the
"IFRSs").
(2) Basis of preparation
A. Except for the following items, the consolidated financial statements have been prepared under
the historical cost convention:
(a) Financial assets and financial liabilities (including derivative instruments) at fair value through
profit or loss.
(b) Financial assets at fair value through other comprehensive income.
(c) Defined benefit liabilities recognised based on the net amount of pension fund assets less
present value of defined benefit obligation.
B. The preparation of financial statements in conformity with IFRSs requires the use of certain
critical accounting estimates. It also requires management to exercise its judgment in the process
of applying the Group’s accounting policies. The areas involving a higher degree of judgment or
complexity, or areas where assumptions and estimates are significant to the consolidated financial
statements are disclosed in Note 5.
(3) Basis of consolidation
A. Basis for preparation of consolidated financial statements:
(a) All subsidiaries are included in the Group’s consolidated financial statements. Subsidiaries are
all entities (including structured entities) controlled by the Group. The Group controls an entity
when the Group is exposed, or has rights, to variable returns from its involvement with the
entity and has the ability to affect those returns through its power over the entity. Consolidation
of subsidiaries begins from the date the Group obtains control of the subsidiaries and ceases
when the Group loses control of the subsidiaries.
(b) Inter-company transactions, balances and unrealised gains or losses on transactions between
companies within the Group are eliminated. Accounting policies of subsidiaries are consistent
with the policies adopted by the Group.
(c) Profit or loss and each component of other comprehensive income are attributed to the owners
of the parent and to the non-controlling interests. Total comprehensive income 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.

171
 (d) Changes in a parent’s ownership interest in a subsidiary that do not result in the parent losing
control of the subsidiary (transactions with non-controlling interests) are accounted for as
equity transactions, i.e. transactions with owners in their capacity as owners. Any difference
between the amount by which the non-controlling interests are adjusted and the fair value of
the consideration paid or received is recognised directly in equity.
(e) When the Group loses control of a subsidiary, the Group remeasures any investment retained
in the former subsidiary at its fair value. That fair value is regarded as the fair value on initial
recognition of a financial asset or the cost on initial recognition of the associate or joint venture.
Any difference between fair value and carrying amount is recognised in profit or loss. All
amounts previously recognised in other comprehensive income in relation to the subsidiary
are reclassified to profit or loss, on the same basis as if the related assets or liabilities were
disposed of. That is, when the Group loses control of a subsidiary, all gains or losses previously
recognised in other comprehensive income in relation to the subsidiary should be reclassified
from equity to profit or loss, if such gains or losses would be reclassified to profit or loss when
the related assets or liabilities are disposed of.
B. Subsidiaries included in the consolidated financial statements:
Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
1 Delta Electronics, Inc. Delta International Equity investments 100 100
Holding Limited B.V.
(DIH)

2 〃 Delta Networks 〃 100 100

Holding Limited
(DNH)

3 〃 Delta Electronics Sales of power products, 100 100

(Netherlands) B.V. display solution
(DEN) products, electronic
components, industrial
automation products and
materials

4 〃 Cyntec Co., Ltd. Research, development, 100 100

(Cyntec) manufacturing and sales
of film optic-electronics
devices

5 〃 DelBio Inc. (DelBio) Manufacturing, 100 100

wholesale and retail of
medical equipment

6 〃 Delta Electronics Equity investments 100 100

Capital Company
(DECC)

172
 Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
7 Delta Electronics, Inc. Delta Electronics Int'l Research, development 100 100
(Singapore) Pte. Ltd. and sales of electronic
(DEIL-SG) products

8 Delta Electronics, Inc. Delta America Ltd. Equity investments 100 100 Note 4
and DIH/Delta (DAL)
Electronics, Inc. and
DEN

9 DEN Delta Electronics Equity investments, 100 100

(H.K.) Ltd. (DHK) operations management
and engineering services

10 DIH DEI Logistics (USA) Warehousing and 100 100

Corp. (ALI) logistics services

11 〃 Delta Electronics Sales of power products, 100 100

(Japan), Inc. (DEJ) display solution
products, electronic
components, industrial
automation products and
materials

12 DEN Drake Investment Equity investments 100 100

(HK) Limited (Drake-
HK)

13 DGSG, Drake-HK Delta Greentech Sales of uninterruptible 95.91 95.91

and Boom (China) Co., Ltd. power systems and
(DGC) others

14 Boom/DEN Delta Greentech SGP Equity investments 100 100 Note 7

Pte. Ltd. (DGSG)

15 DIH Delta Electronics Repair centre and - 100 Note 14

Europe Ltd. (DEU) providing support
services

16 Drake/DEN Boom Treasure Equity investments 100 100 Note 9

Limited (Boom)

173
 Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
17 DHK Delta Electronics Manufacturing and sales 100 100
(Dongguan) Co., Ltd. of transformer and
(DDG) thermal products

18 〃 Delta Electronics Product design, 100 100

(Shanghai) Co., Ltd. management consulting
(DPEC) service and distribution
of electronic products

19 〃 Delta Electronics Manufacturing and sales 100 100

(Jiangsu) Ltd. (DWJ) of power supplies and
transformers

20 〃 Delta Electronics Manufacturing and sales 100 100

(Wuhu) Co., Ltd. of LED light source,
(DWH) power supplies and
others

21 〃 Delta Electronics Manufacturing and sales 100 100

(Chenzhou) Co., Ltd. of transformers
(DCZ)

22 〃 Cyntec Electronics Manufacturing and sales 100 100

(Wuhu) Co., Ltd. of electronic
(CEWH) components, molds,
forgings and powder
metallurgy products

23 DHK and DIH Delta Electronics Sales of power 100 100

International Mexico, management system of
S.A. de C.V. industrial automation
(DEIL-MX) product and
telecommunications
equipment

24 DHK Delta Green (Tianjin) Manufacturing and sales 100 100

Industries Co., Ltd. of transformers
(DGT)

25 〃 Delta Electronics Wholesale and retail of 100 100

(Pingtan) Co., Ltd. electronic products and
(Delta Pingtan) energy-saving
equipment

174
 Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
26 DEJ Addtron Technology Trading of networking 100 100
(Japan), Inc. system and peripherals
(AT Japan)

27 〃 Delta Electronics Sales of power products, 100 100

(Korea), Inc. display solution
(Delta Korea) products electronic
components, industrial
automation products and
their materials

28 DCZ Chenzhou Delta Manufacturing and sales 100 100

Technology Co., Ltd. of transformers
(CDT)

29 DNH Delta Networks, Inc. Equity investments 100 100

(DNI Cayman)

30 DHK/DNI Cayman Delta Networks (HK) 〃 100 100 Note 5

Limited (DNHK)

31 DHK Delta Networks Manufacturing and sales 100 100

(Dongguan) Ltd. of other radio-broadcast
(DII) receivers and the
equipment in relation to
broadband access
networking system

32 Cyntec Fairview Assets Ltd. Equity investments 100 100

(Fairview)

33 Fairview Grandview Holding 〃 100 100

Ltd. (Grandview)

34 Grandview CYNTEC HOLDING 〃 100 100

(HK) LIMITED
(CHK)

35 〃 Cyntec International Trading - 100 Note 15

Ltd. (CIL-Labuan)

175
 Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
36 DHK Cyntec Electronics Manufacturing and sales 100 100
(Suzhou) Co., Ltd. of electronic
(CES) components and molds;
sales of forgings and
powder metallurgy
products
37 DelBio DelBio (Wujiang) Co, Manufacturing, 100 100
Ltd wholesale and retail of
medical equipment

38 DIH DELTA Research, development 100 100 Note 6

ELECTRONICS and sales of power
(NORWAY) AS supplies and others

39 〃 Delta Controls Inc. Provide solutions to 100 100

(DCI) building management
and control

40 〃 DELTA Equity investments 100 100

ELECTRONICS
HOLDING (USA)
INC.

41 DELTA ELTEK PAKISTAN Sales of power supplies 100 100

ELECTRONICS (PRIVATE) LIMITED and others
(NORWAY) AS

42 〃 DELTA Electronics Sales of power supplies 100 100

(Germany) GmbH and others and system
installation

43 Delta Energy Systems Delta Electronics 〃 100 100

(Singapore) PTE. (Australia) Pty Ltd
LTD.

44 DELTA Eltek Egypt for Power Sales of power supplies 100 95

ELECTRONICS Supply S.A.E. and others
(NORWAY) AS, DIH
and ELTEK MEA
DMCC/DELTA
ELECTRONICS
(NORWAY) AS

176
 Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
45 DELTA Eltek SGS Pvt Ltd. Sales of power supplies 100 100
ELECTRONICS and others and system
(NORWAY) AS and installation
DELTA
ELECTRONICS
(USA) INC.

46 DELTA Eltek SGS Mechanics Sales of power supplies 51 51

ELECTRONICS Pvt Ltd. and others
(NORWAY) AS and
Eltek SGS Pvt Ltd.

47 DELTA DELTA Sales of power supplies 100 100

ELECTRONICS ELECTRONICS and others and system
(NORWAY) AS (France) SAS installation

48 〃 ELTEK MEA DMCC Sales of power supplies 100 100

and others

49 〃 Eltek Italia S.r.l. 〃 - 100 Note 14

50 〃 Delta Electronics 〃 100 100

(Sweden) AB

51 〃 DELTA 〃 100 100

ELECTRONICS (UK)
LTD

52 〃 OOO Eltek Sales of power supplies 100 100

and others and system
installation

53 DELTA Electronics DELTA Montage Installation and 100 100

(Germany) GmbH GmbH maintenance of power
supplies

54 DEIL-SG ELTEK POWER Sales of power supplies 100 100

INCORPORATED and others

177
 Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
55 DEIL-SG ELTEK POWER CO., Sales of power supplies 100 100 Note 1
LTD. and others

56 〃 ELTEK POWER 〃 100 100

(CAMBODIA) LTD.

57 〃 ELTEK POWER 〃 100 100 Note 2

(MALAYSIA) SDN.
BHD.

58 DELTA DELTA Manufacturing and sales 100 100

ELECTRONICS ELECTRONICS of power supplies
HOLDING (USA) (USA) INC.
INC.

59 DELTA DELTA Sales of power supplies 100 100

ELECTRONICS ELECTRONICS and others
(USA) INC. and (ARGENTINA)
DELTA S.R.L.
ELECTRONICS
HOLDING (USA)
INC.

60 DEN and DELTA ELTEK SISTEMAS Manufacturing and sales 100 100
ELECTRONICS DE ENERGIA of power supplies
(USA) INC. INDUSTRAI E
COMERCIO LTDA.

61 DELTA DELTA Sales of power supplies 100 100

ELECTRONICS ELECTRONICS and others
(USA) INC. and (PERU) INC. S.R.L.
DELTA
ELECTRONICS
HOLDING (USA)
INC.
62 DELTA DELTA 〃 100 100
ELECTRONICS ELECTRONICS
(USA) INC. (COLOMBIA) S.A.S.

63 DELTA Eltekenergy Services, 〃 100 100

ELECTRONICS S.A. de C.V.
(USA) INC. and
DELTA
ELECTRONICS
HOLDING (USA)
INC.

178
 Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
64 DAL Delta Electronics Sales of electronic 100 100
(Americas) Ltd. components

65 Delta Electronics, Inc. Power Forest IC design of power 86.65 99.74

and Cyntec/Cyntec Technology management
Corporation
(Power Forest)

66 DPEC and DGC Delta Energy Sales of solar power 100 100
Technology Puhuan products, photovoltaic
(Shanghai) Co., Ltd. equipment and
components, and energy
saving management
services

67 DEIL-SG Loy Tec electronics Consulting service of 100 100

GmbH (Loy Tec) building management
and control solutions

68 DHK Delta Electronics Installation of mechanic, - 100 Note 12

(Beijing) Co., Ltd. electronic,
telecommunication and
circuit equipment

69 〃 Delta Electronics Sales of computers, 100 100

(Xi'an) Co., Ltd. peripherals and software

70 DIH Delta Electronics Equity investments, 100 100

(Switzerland) AG research, development
(DECH) and sales of electronic
products

71 DEN Delta Greentech Marketing and sales of 100 100

Electronics Industry electronic products
LLC

72 DEN and DELTA DELTA Manufacturing and sales 100 100

ELECTRONICS GREENTECH of electronic products
(USA) INC. (BRASIL) LTDA.
(DGB)

73 DECH Delta Electronics Sales of electronic 100 100

(Czech Republic), products
spol. s.r.o.

179
 Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
74 DECH Delta Electronics Sales of electronic 100 100
(Italy) S.r.l. products

75 〃 Delta Electronics 〃 100 100

(Poland) Sp. z o.o.

76 〃 Delta Solutions 〃 100 100

(Finland) Oy

77 〃 Delta Electronics 〃 100 100

Solutions (Spain) SL

78 Delta Electronics, Inc. Vivotek Inc. Manufacturing and sales 56.75 56.75
(Vivotek) of video compression
software and encoding,
network video server,
webcam and its related
components

79 Vivotek Vivotek Holdings, Inc. Holding company 100 100

80 〃 Realwin Investment A venture capital 100 100

Inc. (Realwin) company

81 〃 Vivotek Netherlands Sales service 100 100

B.V.

82 〃 Vivotek (Japan) Inc. 〃 100 100

83 Vivotek Holdings, Inc. Vivotek USA, Inc. Sales of webcams and 100 100
related components

84 Realwin Wellstates Investment and 100 100

Investment, LLC commercial lease of real
estate

85 Vivotek Otus Imaging, Inc. Sales of webcams and - 100 Note 13

related components

86 Realwin Aetek Inc. 〃 56.21 56.21

87 〃 Lidlight Inc. Sales of lighting 51 51

equipment

180
 Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
88 DEN DELTA Manufacturing and sales 100 100
ELECTRONICS of electronic products
BRASIL LTDA.

89 Delta Electronics, Delta Electronics Manufacturing and 63.07 63.78

Inc., DEIL-SG and (Thailand) Public exporting power
DIH Company Limited supplies, other
(DET) electronic parts and
components

90 DET DET International Equity investments 100 100

Holding B.V.

91 〃 Delta Energy Systems Equity investments, 100 100

(Singapore) PTE. trading, management
LTD. and consultancy

92 〃 Delta Green Industrial Integration, sales, 100 100

(Thailand) Co., Ltd. trading, installation and
providing services of
uninterruptible power
supply, photovoltaic
inverter, electric cars
changer and data center

93 〃 Delta Electronics Sales of electronic 100 100

(Vietnam) Company products
Limited

94 DET and Delta DELTA Manufacturing and sales 100 100

Energy Systems ELECTRONICS of electronic products
(Singapore) PTE. INDIA
LTD. MANUFACTURING
PRIVATE LIMITED

95 DET International DET Logistics (USA) Providing logistics 100 100

Holding B.V. Corporation services in USA

96 〃 Delta Energy Systems Development, marketing 100 100

(Germany) GmbH and sales of electronic
products

97 〃 Delta Energy Systems Marketing and sales of 100 100

(India) Private Ltd. electronic products

181
 Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
98 DET International Delta Electronics Manufacturing and sales 100 100
Holding B.V. and (Slovakia) s.r.o. of power supplies,
Delta Energy Systems power system and OEM
(Singapore) PTE. power system
LTD.

99 DET International Delta Energy Systems Research and 100 100

Holding B.V. (Romania) S.R.L. development

100 Delta Energy Systems Delta Energy Systems Property rights business 100 100
(Germany) GmbH Property (Germany)
GmbH

101 Delta Energy Systems Delta Electronics Marketing and sales of - 100 Note 12
(Singapore) PTE. (Holdings) Australia renewable energy
LTD. Pty Ltd products

102 〃 Delta Electronics Manufacturing and 100 100

India Pvt. Ltd. marketing of non-
telecom power system
and uninterruptible
power supply, and sales
of uninterruptible power
supply

103 〃 Delta Electronics Manufacturing of 100 100

(Myanmar) Co., Ltd. electronic products used
in CMP manufacturing
process and machinery

104 〃 Delta Energy Systems Research and 100 100

(UK) Ltd. development of
electronic products

105 〃 Delta Greentech Equity investments 100 100

(Netherlands) B.V.

106 Delta Greentech Delta Energy Systems Marketing and sales of 100 100
(Netherlands) B.V. LLC power systems

182
 Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
107 DET International Eltek s.r.o. Manufacturing of 100 100 Note 11
Holding B.V., Delta telecom power system
Greentech
(Netherlands) B.V. /
Delta Greentech
(Netherlands) B.V.

108 DET International Delta Electronics Research and 100 100 Note 10
Holding B.V. / Delta (Automotive) development of
Greentech Americas Inc. automotive power and
(Netherlands) B.V. traction inverter

109 DIH/DEN Amerlux, LLC Design and production 100 100 Note 8
(Amerlux) of dedicated lighting
system and facilities

110 Amerlux Amerlux Lighting Equity investments 100 100

Asia, LLC

111 Amerlux Lighting Amerlux Lighting 〃 100 100

Asia, LLC Hong Kong Limited

112 Amerlux Lighting Guangzhou Amerlux Wholesale of lighting 100 100

Hong Kong Limited Lighting Solutions fixture and decorative
Company Limited objects

113 DIH Digital Projection Equity investments 100 100

International Ltd.
(DPI)

114 DPI Digital Projection 〃 100 100

Holdings Limited

115 Digital Projection Digital Projection Research, development 100 100

Holdings Limited Limited and sales of projector
products

116 Digital Projection Digital Projection Inc. Sales of projector 100 100
Limited products

117 DIH/DEN Trihedral Engineering Graphic control software 100 100 Note 4
Limited (Trihedral) and related engineering
services

183
 Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
118 Trihedral Trihedral Inc. Graphic control software 100 100
and related engineering
services
119 〃 Trihedral UK Limited 〃 100 100

120 DIH March Networks Equity investments 100 100

Holdings Ltd.

121 March Networks March Networks Security surveillance 100 100

Holdings Ltd. Corporation software and hardware
and related engineering
services

122 March Networks March Networks, Inc. 〃 100 100

Corporation

123 〃 March Networks de 〃 100 100

Mexico, S.A.de C.V.

124 〃 March Networks 〃 100 100

(Australia) Pty
Limited
125 〃 March Networks 〃 100 100
Limited

126 〃 March Networks 〃 100 100

(Singapore) Pte.
Limited
127 〃 March Networks B.V. 〃 100 100

128 March Networks B.V. March Networks S.r.l. 〃 100 100

129 〃 March Networks 〃 100 100

(France) SAS

130 DHK Delta Electronics Manufacturing 100 100

(Chongqing) Ltd. electronic parts of new
energy vehicles and
parts for power of
electronic equipment

184
 Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
131 Delta Electronics, Inc. Delmind Inc. Provide vertical add-on 70 70
(Delmind) value solution

132 Delta Electronics, Inc. Ancora Gallium Nitride (GaN) 74.28 74.28
and DECC Semiconductors Inc. technologies and
(Ancora) solutions

133 DIH UI Acquisition Equity investments 100 100

Holding Co.

134 UI Acquisition UI Holding Co. 〃 100 100

Holding Co.

135 UI Holding Co. Universal Instruments Precision automation 100 100

Corporation solutions

136 〃 Hover-Davis, Inc. 〃 100 100

137 UI Acquisition UI European Holdco. Equity investments 100 100

Holding Co. and UI Cooperatief U.A.
Holding Co.

138 UI European Holdco. Universal Instruments Precision automation 100 100

Cooperatief U.A. (Hong Kong) Limited solutions

139 〃 Universal Instruments 〃 100 100

s.r.o.

140 〃 Universal Instruments 〃 100 100

Mfg. (Shenzhen) Co.
Ltd.

141 UI Holding Co. and Universal Instrument 〃 100 100

UI European Holdco. de Mexico S.A. de
Cooperatief U.A. C.V

142 DELTA Graterudveien 8 AS Property rights business 100 100

ELECTRONICS
(NORWAY) AS

143 March Networks S.r.l. March Networks Research and 100 100
Poland Sp. Z o.o. development on
business intelligence
applications

185
 Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
144 Delta Electronics, Inc. Atrust Computer Research development, 55.02 - Note 3
Corporation (Atrust) manufacturing and sales
of Thin Client, Zero
Client, server and
management software

145 Atrust APLUS COMPUTER Equity investments 100 - Note 3

(SAMOA)
COMPANY
LIMITED

146 APLUS COMPUTER Atrust Japan Provide supporting 100 - Note 3

(SAMOA) Corporation services
COMPANY
LIMITED
147 〃 Atrust Computer 〃 100 - Note 3
Corporation

148 Delta Electronics, Inc. Delta Energy Inc. Providing energy 100 - Note 3
(Delta Energy) technology services

149 DET International Delta Electronics Manufactuing of 100 - Note 3

Holding B.V. (Hungary) Kft. automotive and
electronic products

150 DIH HY&T Investments Equity investments 100 - Note 3

Holding B.V.

151 HY&T Investments TB&C Investments 〃 100 - Note 3

Holding B.V. B.V.

152 TB&C Investments TB&C Holding 〃 100 - Note 3

Holding B.V. GmbH

153 TB&C Holding TB&C Outsert Center Manufacturing and sales 100 - Note 3
GmbH GmbH of Electric Vehicle (EV)
components

154 〃 TB&C Technology Technology service, 100 - Note 3

GmbH research, development,
and consultation of EV
components

186
 Ownership (%)
Name of Name of Main Business December December
No. Investor Subsidiary Activities 31, 2023 31, 2022 Description
155 TB&C Holding TB&C Outsert Equity investments 100 - Note 3
GmbH International B.V.

156 TB&C Outsert TB&C Outsert Manufacturing and sales 100 - Note 3
International B.V. Romania SRL of automobile
components

157 TB&C Outsert TB&C Outsert 〃 100 - Note 3

International B.V. and Mexico, S. De R.L.
TB&C Holding DE C.V.
GmbH

158 TB&C Outsert TB&C Outsert Technology service 100 - Note 3

Mexico, S. De R.L. Servicios, S. DE R.L.
DE C.V. and TB&C DE C.V.
Outsert International
B.V.

Note 1: 55% of shares are held through others due to local regulations.
Note 2: 71% of shares are held through others due to local regulations.
Note 3: The company was established or acquired through merger during 2023.
Note 4: In March 2023, Delta International Holding Limited B.V. acquired a 100% equity interest
in Delta America Ltd. and Trihedral Engineering Limited from Delta Electronics
(Netherlands) B.V.
Note 5: In December 2023, Delta Electronics (H.K.) Ltd. acquired a 100% equity interest in Delta
Networks (HK) Limited (DNHK) from Delta Networks, Inc.
Note 6: Formerly named ELTEK AS was renamed as DELTA ELECTRONICS (NORWAY) AS.
Note 7: In June 2023, Boom Treasure Limited issued new shares to Delta Electronics
(Netherlands) B.V. to acquire its 100% equity interest held in Delta Greentech SGP Pte.
Ltd.
Note 8: In May 2023, Delta International Holding Limited B.V. acquired a 100% equity interest
in Amerlux, LLC from Delta Electronics (Netherlands) B.V.
Note 9: In July 2023, Drake Investment (HK) Limited issued new shares to Delta Electronics
(Netherlands) B.V. to acquire its 100% equity interest held in Boom Treasure Limited.
Note 10: In December 2023, DET International Holding B.V. acquired a 100% equity interest in
Delta Electronics (Automotive) Americas Inc. from Delta Greentech (Neverlands) B.V.
Note 11: In October 2023, DET International Holding B.V. acquired a 55% equity interest in Eltek
s.r.o. from Delta Greentech (Neverlands) B.V.
Note 12: This company had been liquidated in December 2023.
Note 13: The investor disposed the subsidiary in March 2023 and had no control over

187
 the subsidiary.
Note 14: This company had been liquidated in January 2023.
Note 15: This company had been liquidated in March 2023.
C. Subsidiaries not included in the consolidated financial statements: None.
D. Adjustments for subsidiaries with different balance sheet dates: None.
E. Significant restrictions: None.
F. Subsidiaries that have non-controlling interests that are material to the Group:
As at December 31, 2023, and 2022, the non-controlling interest amounted to $43,571,715 and
$38,578,278, respectively. The information on non-controlling interest and respective subsidiary
is as follows:
Non-controlling interest
December 31, 2023 December 31, 2022
Principal place Ownership Ownership
Name of subsidiary of business Amount (%) Amount (%)
Vivotek Inc. Taiwan $ 3,458,667 43.25% $ 3,498,166 43.25%
(Vivotek)
Delta Electronics Thailand 38,336,796 36.93% 33,992,121 36.22%
(Thailand) Public
Company limited
(DET)

Summarised financial information of the subsidiary:

Balance sheets
DET
December 31, 2023 December 31, 2022
Current assets $ 68,137,815 $ 59,033,050
Non-current assets 72,623,607 67,524,042
Current liabilities ( 32,619,488) ( 29,209,851)
Non-current liabilities ( 3,995,338) ( 3,250,195)
Total net assets $ 104,146,596 $ 94,097,046

Vivotek
December 31, 2023 December 31, 2022
Current assets $ 4,959,511 $ 5,703,205
Non-current assets 5,735,945 5,772,970
Current liabilities ( 2,581,764) ( 3,187,495)
Non-current liabilities ( 207,424) ( 290,286)
Total net assets $ 7,906,268 $ 7,998,394

188
Statements of comprehensive income
DET
Years ended December 31,
2023 2022
Revenue $ 130,478,347 $ 100,321,381
Profit before income tax 15,789,049 11,859,169
Income tax expense ( 956,644) ( 395,121)
Profit for the year from continuing operations 14,832,405 11,464,048
Other comprehensive (loss) income, net of tax ( 511,875) 43,546
Total comprehensive income for the year $ 14,320,530 $ 11,507,594
Comprehensive income attributable to
non-controlling interest $ 5,288,581 $ 4,168,051
Dividends paid to non-controlling interest $ 1,638,594 $ 665,450
Vivotek
Years ended December 31,
2023 2022
Revenue $ 9,162,423 $ 9,948,137
Profit before income tax 470,531 670,108
Income tax expense ( 64,160) ( 99,414)
Profit for the year from continuing operations 406,371 570,694
Other comprehensive (loss) income, net of tax ( 1,354) 43,461
Total comprehensive income for the year $ 405,017 $ 614,155
Comprehensive income attributable to
non-controlling interest $ 189,099 $ 284,074
Dividends paid to non-controlling interest $ 205,923 $ 52,962

Statements of cash flows

DET
Years ended December 31,
2023 2022
Net cash provided by operating activities $ 11,867,200 $ 11,210,412
Net cash used in investing activities ( 10,700,105) ( 6,435,011)
Net cash used in financing activities ( 3,121,772) ( 2,046,929)
Effect of exchange rates on cash and cash
equivalents ( 245,025) 885,268
(Decrease) increase in cash and cash equivalents ( 2,199,702) 3,613,740
Cash and cash equivalents, beginning of year 9,068,141 5,454,401
Cash and cash equivalents, end of year $ 6,868,439 $ 9,068,141

189
 Vivotek
Years ended December 31,
2023 2022
Net cash provided by operating activities $ 1,639,662 $ 468,397
Net cash used in investing activities ( 34,059) ( 74,282)
Net cash used in financing activities ( 427,765) ( 379,826)
Effect of exchange rates on cash and cash
equivalents ( 1,591) 35,636
Increase in cash and cash equivalents 1,176,247 49,925
Cash and cash equivalents, beginning of year 1,044,823 994,898
Cash and cash equivalents, end of year $ 2,221,070 $ 1,044,823
(4) Foreign currency translation
Items included in the financial statements of each of the Group’s entities are measured using the
currency of the primary economic environment in which the entity operates (the “functional
currency”). The consolidated financial statements are presented in New Taiwan dollars, which is the
Company’s functional and the Group’s presentation currency.
A. Foreign currency transactions and balances
(a) Foreign currency transactions are translated into the functional currency using the exchange
rates prevailing at the dates of the transactions or valuation where items are remeasured.
Foreign exchange gains and losses resulting from the settlement of such transactions are
recognised in profit or loss in the period in which they arise, except when deferred in other
comprehensive income as qualifying cash flow hedges.
(b) Monetary assets and liabilities denominated in foreign currencies at the period end are re-
translated at the exchange rates prevailing at the balance sheet date. Exchange differences
arising upon re-translation at the balance sheet date are recognised in profit or loss.
(c) Non-monetary assets and liabilities denominated in foreign currencies held at fair value
through profit or loss are re-translated at the exchange rates prevailing at the balance sheet
date; their translation differences are recognised in profit or loss as part of the fair value gain
or loss. Non-monetary assets and liabilities denominated in foreign currencies held at fair
value through other comprehensive income are re-translated at the exchange rates prevailing
at the balance sheet date; their translation differences are recognised in other comprehensive
income. However, non-monetary assets and liabilities denominated in foreign currencies that
are not measured at fair value are translated using the historical exchange rates at the dates of
the initial transactions.
(d) All other foreign exchange gains and losses are presented in the statement of comprehensive
income within other gains and losses.

190
 B. Translation of foreign operations
(a) The operating results and financial position of all the group entities, associates and joint
arrangements that have a functional currency different from the presentation currency are
translated into the presentation currency as follows:
i. Assets and liabilities for each balance sheet presented are translated at the closing
exchange rate at the date of that balance sheet;
ii. Income and expenses for each statement of comprehensive income are translated at
average exchange rates of that period; and
iii. All resulting exchange differences are recognised in other comprehensive income.
(b) When the foreign operation partially disposed of or sold is an associate or joint arrangements,
exchange differences that were recorded in other comprehensive income are proportionately
reclassified to profit or loss as part of the gain or loss on sale. In addition, even the Group still
retains partial interest in the former foreign associate or joint arrangements after losing
significant influence over the former foreign associate, or losing joint control of the former
joint arrangements, such transactions should be accounted for as disposal of all interest in these
foreign operations.
(c) When the foreign operation partially disposed of or sold is a subsidiary, cumulative exchange
differences that were recorded in other comprehensive income are proportionately transferred
to the non-controlling interest in this foreign operation. In addition, even the Group still retains
partial interest in the former foreign subsidiary after losing control of the former foreign
subsidiary, such transactions should be accounted for as disposal of all interest in the foreign
operation.
(d) Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated
as assets and liabilities of the foreign entity and translated at the closing exchange rates at the
balance sheet date.
(5) Classification of current and non-current items
A. Assets that meet one of the following criteria are classified as current assets; otherwise they are
classified as non-current assets:
(a) Assets arising from operating activities that are expected to be realised, or are intended to be
sold or consumed within the normal operating cycle;
(b) Assets held mainly for trading purposes;
(c) Assets that are expected to be realised within twelve months from the balance sheet date;
(d) Cash and cash equivalents, excluding restricted cash and cash equivalents and those that are
to be exchanged or used to pay off liabilities more than twelve months after the balance sheet
date.

191
 B. Liabilities that meet one of the following criteria are classified as current liabilities; otherwise they
are classified as non-current liabilities:
(a) Liabilities that are expected to be paid off within the normal operating cycle;
(b) Liabilities arising mainly from trading activities;
(c) Liabilities that are to be paid off within twelve months from the balance sheet date;
(d) Liabilities for which the repayment date cannot be extended unconditionally to more than
twelve months after the balance sheet date. Terms of a liability that could, at the option of the
counterparty, result in its settlement by the issue of equity instruments do not affect its
classification.
(6) Cash equivalents
Cash equivalents refer to short-term, highly liquid investments that are readily convertible to known
amounts of cash and which are subject to an insignificant risk of changes in value. Time deposits that
meet the definition above and are held for the purpose of meeting short-term cash commitments in
operations are classified as cash equivalents.
(7) Financial assets at fair value through profit or loss
A. Financial assets at fair value through profit or loss are financial assets that are not measured at
amortised cost or fair value through other comprehensive income. Financial assets at amortised
cost or fair value through other comprehensive income are designated as at fair value through
profit or loss at initial recognition when they eliminate or significantly reduce a measurement or
recognition inconsistency.
B. On a regular way purchase or sale basis, financial assets at fair value through profit or loss are
recognised and derecognised using trade date accounting.
C. At initial recognition, the Group measures the financial assets at fair value and recognises the
transaction costs in profit or loss. The Group subsequently measures the financial assets at fair
value, and recognises the gain or loss in profit or loss.
D. The Group recognises the dividend income when the right to receive payment is established, future
economic benefits associated with the dividend will flow to the Group and the amount of the
dividend can be measured reliably.
(8) Financial assets at fair value through other comprehensive income
A. Financial assets at fair value through other comprehensive income comprise equity securities
which are not held for trading, and for which the Group has made an irrevocable election at initial
recognition to recognise changes in fair value in other comprehensive income.
B. On a regular way purchase or sale basis, financial assets at fair value through other comprehensive
income are recognised and derecognised using trade date accounting.
C. Financial assets at fair value through other comprehensive income are initially recognised at fair

192
 value plus transaction costs. These financial assets are subsequently remeasured and stated at fair
value. The changes in fair value of equity investments that were recognised in other
comprehensive income are reclassified to retained earnings and are not reclassified to profit or
loss following the derecognition of the investment. Dividends are recognised as revenue when the
right to receive payment is established, future economic benefits associated with the dividend will
flow to the Group and the amount of the dividend can be measured reliably.
(9) Financial assets at amortised cost
A. Financial assets at amortised cost are those that meet all of the following criteria:
(a) The objective of the Group’s business model is achieved by collecting contractual cash flows.
(b) The assets’ contractual cash flows represent solely payments of principal and interest.
B. The Group’s time deposits which do not fall under cash equivalents are those with a short maturity
period and are measured at initial investment amount as the effect of discounting is immaterial.
(10) Accounts and notes receivable
A. Accounts and notes receivable entitle the Group a legal right to receive consideration in exchange
for transferred goods or rendered services.
B. The short-term accounts and notes receivable without bearing interest are subsequently measured
at initial invoice amount as the effect of discounting is immaterial.
C. The Group’s operating pattern of accounts receivable that are expected to be factored is for the
purpose of selling, and the accounts receivable are subsequently measured at fair value, with any
changes in fair value recognised in profit or loss.
(11) Impairment of financial assets
For financial assets at amortised cost and accounts receivable or contract assets that have a
significant financing component, at each reporting date, the Group recognises the impairment
provision for 12 months expected credit losses if there has not been a significant increase in credit
risk since initial recognition or recognises the impairment provision for the lifetime expected credit
losses (ECLs) if such credit risk has increased since initial recognition after taking into consideration
all reasonable and verifiable information that includes forecasts.
(12) Derecognition of financial assets
The Group derecognises a financial asset when one of the following conditions is met:
A. The contractual rights to receive the cash flows from the financial asset expire.
B. The contractual rights to receive cash flows of the financial asset have been transferred and the
Group has transferred substantially all risks and rewards of ownership of the financial asset.
C. The contractual rights to receive cash flows of the financial asset have been transferred and, the
Group has not retained control of the financial asset.
(13) Inventories
Inventories are stated at the lower of cost and net realisable value. The cost of finished goods and

193
 work in process comprises raw materials, direct labour, other direct costs and related production
overheads (allocated based on normal operating capacity); however, borrowing costs are excluded.
The item by item approach is used in applying the lower of cost and net realisable value. Net
realisable value is the estimated selling price in the ordinary course of business, less the estimated
cost of completion and applicable variable selling expenses.
(14) Non-current assets held for sale
Non-current assets are classified as assets held for sale when their carrying amount is to be recovered
principally through a sale transaction rather than through continuing use, and a sale is considered
highly probable. They are stated at the lower of carrying amount and fair value less costs to sell.
(15) Investments accounted for under the equity method
A. Associates are all entities over which the Group has significant influence but not control. In
general, it is presumed that the investor has significant influence, if an investor holds, directly or
indirectly 20 percent or more of the voting power of the investee. Investments in associates are
accounted for using the equity method and are initially recognised at cost.
B. The Group’s share of its associates’ post-acquisition profits or losses is recognised in profit or
loss, and its share of post-acquisition movements in other comprehensive income is recognised
in other comprehensive income. When the Group’s share of loss in an associate equals or exceeds
its interest in the associate, including any other unsecured receivables, the Group does not
recognise further losses, unless it has incurred legal or constructive obligations or made payments
on behalf of the associate.
C. When changes in associates’ equity do not arise from profit or loss or other comprehensive
income of the associate and such changes do not affect the Group’s ownership percentage of the
associate, the Group recognises the Group’s share of change in equity of the associate in ‘capital
surplus’ in proportion to its ownership.
D. Unrealised gains on transactions between the Group and its associates are eliminated to the extent
of the Group’s interest in the associates. Unrealised losses are also eliminated unless the
transaction provides evidence of an impairment of the asset transferred. Accounting policies of
associates are consistent with the policies adopted by the Group.
E. In the case that an associate issues new shares and the Group does not subscribe or acquire new
shares proportionately, which results in a change in the Group’s ownership percentage of the
associate but maintains significant influence on the associate, then ‘capital surplus’ and
‘investments accounted for under the equity method’ shall be adjusted for the increase or
decrease of its share of equity interest. If the above condition causes a decrease in the Group’s
ownership percentage of the associate, in addition to the above adjustment, the amounts
previously recognised in other comprehensive income in relation to the associate are reclassified
to profit or loss proportionately on the same basis as would be required if the relevant assets or
liabilities were disposed of.

194
 F. Upon loss of significant influence over an associate, the Group remeasures any investment
retained in the former associate at its fair value. Any difference between fair value and carrying
amount is recognised in profit or loss.
G. When the Group disposes its investment in an associate and loses significant influence over this
associate, the amounts previously recognised in other comprehensive income in relation to the
associate are reclassified to profit or loss, on the same basis as would be required if the relevant
assets or liabilities were disposed of. If it retains significant influence over this associate, the
amounts previously recognised in other comprehensive income in relation to the associate are
reclassified to profit or loss proportionately in accordance with the aforementioned approach.
(16) Cash surrender value of life insurance
Premium paid for life insurance with saving nature belonging to cash surrender value is recognised
as a deduction to insurance premium expense in current period and is added to the carrying amount
of cash surrender value.
(17) Property, plant and equipment
A. Property, plant and equipment are initially recorded at cost. Borrowing costs incurred during the
construction period are capitalised.
B. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset,
as appropriate, only when it is probable that future economic benefits associated with the item
will flow to the Group and the cost of the item can be measured reliably.
C. Land is not depreciated. Other property, plant and equipment apply cost model and are
depreciated using the straight-line method to allocate their cost over their estimated useful lives.
Each part of an item of property, plant, and equipment with a cost that is significant in relation
to the total cost of the item must be depreciated separately.
D. The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted if
appropriate, at each financial year-end. If expectations for the assets’ residual values and useful
lives differ from previous estimates or the patterns of consumption of the assets’ future economic
benefits embodied in the assets have changed significantly, any change is accounted for as a
change in estimate under IAS 8, ‘Accounting Policies, Changes in Accounting Estimates and
Errors’, from the date of the change. The estimated useful lives of property, plant and equipment
are 2~15 years except for buildings, the estimated life of which is 5~55 years.
(18) Leasing arrangements (lessee)－right-of-use assets/lease liabilities

A. Leases are recognised as a right-of-use asset and a corresponding lease liability at the date at
which the leased asset is available for use by the Group. For short-term leases or leases of low-
value assets, lease payments are recognised as an expense on a straight-line basis over the lease
term.
B. Lease liabilities include the net present value of the remaining lease payments at the
commencement date, discounted using the incremental borrowing interest rate. Lease payments

195
 are fixed payments, less any lease incentives receivable. The Group subsequently measures the
lease liability at amortised cost using the interest method and recognises interest expense over
the lease term. The lease liability is remeasured and the amount of remeasurement is recognised
as an adjustment to the right-of-use asset when there are changes in the lease term or lease
payments and such changes do not arise from contract modifications.
C. At the commencement date, the right-of-use asset is stated at cost comprising the following:
(a) The amount of the initial measurement of lease liability; and
(b) Any lease payments made at or before the commencement date.

The right-of-use asset is measured subsequently using the cost model and is depreciated from
the commencement date to the earlier of the end of the asset’s useful life or the end of the
lease term. When the lease liability is remeasured, the amount of remeasurement is
recognised as an adjustment to the right-of-use asset.

(19) Investment property

An investment property is stated initially at its cost and measured subsequently using the cost model.
(20) Intangible assets
A. Goodwill
Goodwill arises in a business combination accounted for by applying the acquisition method.
Acquisition prices in the business combination are calculated by the price of acquisition plus
related direct costs. Goodwill is recognised at the difference of the acquisition prices less net fair
value of identifiable assets acquired. The amortisation duration of acquisition prices may not
exceed one year after the acquisition.
B. Trademarks
(a) Separately acquired trademarks with finite useful lives are stated at acquisition cost and are
amortised on a straight-line basis over their estimated useful lives.
(b) Certain trademarks which are assessed to generate net cash inflows and have indefinite useful
lives are recorded at actual cost. These are not amortised and instead, are tested for
impairment annually.
C. Intangible assets other than goodwill and trademarks, mainly computer software, patents,
customer relationship and technology authorisation fees, are amortised on a straight-line basis
over the following: Economic useful life or contract term for computer software and patents;
economic useful life for customer relationship; useful life for patent use rights or contract term
for technology authorisation fees.
(21) Impairment of non-financial assets
A. The Group assesses at each balance sheet date the recoverable amounts of those assets where
there is an indication that they are impaired. An impairment loss is recognised for the amount by

196
 which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is
the higher of an asset’s fair value less costs to sell or value-in-use. When the circumstances or
reasons for recognising impairment loss for an asset in prior years no longer exist or diminish,
the impairment loss is reversed. The increased carrying amount due to reversal should not be
more than what the depreciated or amortised historical cost would have been if the impairment
had not been recognised.
B. The recoverable amounts of goodwill, intangible assets with an indefinite useful life and
intangible assets that have not yet been available for use are evaluated periodically. An
impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its
recoverable amount. Impairment loss of goodwill previously recognised in profit or loss shall
not be reversed in the following years.
C. For the purpose of impairment testing, goodwill acquired in a business combination is allocated
to each of the cash-generating units, or groups of cash-generating units, that is/are expected to
benefit from the synergies of the business combination. Each unit or group of units to which the
goodwill is allocated represents the lowest level within the entity at which the goodwill is
monitored for internal management purposes. Goodwill is monitored at the operating segment
level.
(22) Borrowings
Borrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are
subsequently stated at amortised cost; any difference between the proceeds (transaction costs) and
the redemption value is recognised in profit or loss over the period of the borrowings using the
effective interest method.
(23) Notes and accounts payable
Notes and accounts payable are obligations to pay for goods or services that have been acquired in
the ordinary course of business from suppliers. They are recognised initially at fair value and
subsequently measured at amortised cost using the effective interest method. However, for short-
term accounts payable without bearing interest, as the effect of discounting is insignificant, they are
measured subsequently at original invoice amount.
(24) Financial liabilities at fair value through profit or loss
A. Derivatives are categorised as financial liabilities held for trading unless they are designated as
hedges.
B. At initial recognition, the Group measures the financial liabilities at fair value. All related
transaction costs are recognised in profit or loss. The Group subsequently measures these
financial liabilities at fair value with any gain or loss recognised in profit or loss.
(25) Bonds payable
Ordinary corporate bonds issued by the Group are initially recognised at fair value less transaction
costs. Any difference between the proceeds (net of transaction costs) and the redemption value is
presented as an addition to or deduction from bonds payable, which is amortised to profit or loss
over the period of bond circulation using the effective interest method as an adjustment to ‘finance
costs’.

197
(26) Derecognition of financial liabilities
A financial liability is derecognised when the obligation under the liability specified in the contract
is discharged or cancelled or expires.
(27) Offsetting financial instruments
Financial assets and liabilities are offset and reported in the net amount in the balance sheet when
there is a legally enforceable right to offset the recognised amounts and there is an intention to settle
on a net basis or realise the asset and settle the liability simultaneously.
(28) Non-hedging and embedded derivatives

A. Non-hedging derivatives are initially recognised at fair value on the date a derivative contract is
entered into and recorded as financial assets or financial liabilities at fair value through profit or
loss. They are subsequently remeasured at fair value and the gains or losses are recognised in
profit or loss.
B. Under the financial assets, the hybrid contracts embedded with derivatives are initially
recognised as financial assets at fair value through profit or loss, financial assets at fair value
through other comprehensive income and financial assets at amortised cost based on the contract
terms.
C. Under the non-financial assets, whether the hybrid contracts embedded with derivatives are
accounted for separately at initial recognition is based on whether the economic characteristics
and risks of an embedded derivative are closely related in the host contract. When they are closely
related, the entire hybrid instrument is accounted for by its nature in accordance with the
applicable standard. When they are not closely related, the derivative is accounted for differently
from the host contract as derivative while the host contract is accounted for by its nature in
accordance with the applicable standard. Alternatively, the entire hybrid instrument is designated
as financial liabilities at fair value through profit or loss upon initial recognition.
(29) Hedge accounting
A. At the inception of the hedging relationship, there is formal designation and documentation of
the hedging relationship and the Group’s risk management objective and strategy for undertaking
the hedge. That documentation shall include identification of the hedging instrument, the hedged
item, the nature of the risk being hedged and how the Group will assess whether the hedging
relationship meets the hedge effectiveness requirements.
B. The Group has designated its hedging relationship as
(a) Cash flow hedge: a hedge of the exposure to variability in cash flows that is attributable to a
particular risk associated with a recognised asset or liability or a highly probable forecast
transaction.
(b) Hedges of net investments in foreign operations.

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C. Cash flow hedges
(a) The cash flow hedge reserve associated with the hedged item is adjusted to the lower of the
following (in absolute amounts):
i. The cumulative gain or loss on the hedging instrument from inception of the hedge; and
ii. The cumulative change in fair value of the hedged item from inception of the hedge.
(b) The effective portion of the gain or loss on the hedging instrument is recognised in other
comprehensive income. The gain or loss on the hedging instrument relating to the ineffective
portion is recognised in profit or loss.
(c) The amount that has been accumulated in the cash flow hedge reserve in accordance with (a)
is accounted for as follows:

i. If a hedged forecast transaction subsequently results in the recognition of a non-financial

asset or non-financial liability, or a hedged forecast transaction for a non-financial asset
or non-financial liability becomes a firm commitment for which fair value hedge
accounting is applied, the Group shall remove that amount from the cash flow hedge
reserve and include it directly in the initial cost or other carrying amount of the asset or
liability.
ii. For cash flow hedges other than those covered by i. above, that amount shall be reclassified
from the cash flow hedge reserve to profit or loss as a reclassification adjustment in the
same period or periods during which the hedged expected future cash flows affect profit
or loss.
iii. If that amount is a loss and the Group expects that all or a portion of that loss will not be
recovered in one or more future periods, it shall immediately reclassify the amount that is
not expected to be recovered into profit or loss as a reclassification adjustment.
(d) When the hedging instrument expires, or is sold, terminated, exercised or when the hedging
relationship ceases to meet the qualifying criteria, if the forecast transaction is still expected
to occur, the amount that has been accumulated in the cash flow hedge reserve shall remain
in the cash flow hedge reserve until the forecast transaction occurs; if the forecast transaction
is no longer expected to occur, the amount shall be immediately reclassified from the cash
flow hedge reserve to profit or loss as a reclassification adjustment.

D. Hedges of net investments in foreign operations

(a) The hedges are handled similarly to cash flow hedges.
(b) The effective portion of the gain or loss on the hedging instrument is recognised in other
comprehensive income. The ineffective portion is recognised in profit or loss.
(c) When dispose or partially dispose of foreign operations, the cumulative gain or loss on the
hedging instrument relating to the effective portion of the hedge that has been accumulated
in the foreign currency translation reserve shall be reclassified from equity to profit or loss
as a reclassification adjustment.

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(30) Employee benefits
A. Pensions
(a) Defined contribution plan
Under the defined contribution plan, the contributions are recognised as pension expenses
when they are due on an accrual basis. Prepaid contributions are recognised as an asset to the
extent of a cash refund or a reduction in the future payments.
(b) Defined benefit plan
i. Net obligation under a defined benefit plan is defined as the present value of an amount
of pension benefits that employees will receive on retirement for their services with the
Group in current period or prior periods. The liability recognised in the balance sheet in
respect of defined benefit pension plans is the present value of the defined benefit
obligation at the balance sheet date less the fair value of plan assets. The net defined
benefit obligation is calculated annually by independent actuaries using the projected
unit credit method. The rate used to discount is determined by using interest rates of
government bonds (at the balance sheet date) of a currency and term consistent with the
currency and term of the employment benefit obligations.
ii. Remeasurements arising on defined benefit plans are recognised in other comprehensive
income in the period in which they arise and are recorded as retained earnings.
iii. Past service costs are recognised immediately in profit or loss.
B. Employees’ compensation and directors’ and supervisors’ remuneration
Employees’ compensation and directors’ and supervisors’ remuneration are recognised as
expenses and liabilities, provided that such recognition is required under legal or constructive
obligation and those amounts can be reliably estimated. Any difference between the resolved
amounts and the subsequently actual distributed amounts is accounted for as changes in estimates.
If employees’ compensation is distributed by shares, the Group calculates the number of shares
based on the closing price at the previous day of the board meeting resolution.
(31) Employee share-based payment

For the equity-settled share-based payment arrangements, the employee services received are
measured at the fair value of the equity instruments granted at the grant date, and are recognised as
compensation cost over the vesting period, with a corresponding adjustment to equity. The fair value
of the equity instruments granted shall reflect the impact of market vesting conditions and non-
market vesting conditions. Compensation cost is subject to adjustment based on the service
conditions that are expected to be satisfied and the estimates of the number of equity instruments
that are expected to vest under the non-market vesting conditions at each balance sheet date.
Ultimately, the amount of compensation cost recognised is based on the number of equity
instruments that eventually vest.

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(32) Income tax
A. The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or
loss, except to the extent that it relates to items recognised in other comprehensive income or
items recognised directly in equity, in which cases the tax is recognised in other comprehensive
income or equity.
B. The current income tax charge is calculated on the basis of the tax laws enacted or substantively
enacted at the balance sheet date in the countries where the Company and its subsidiaries operate
and generate taxable income. Management periodically evaluates positions taken in tax returns
with respect to situations in accordance with applicable tax regulations. It establishes provisions
where appropriate based on the amounts expected to be paid to the tax authorities. An additional
tax is levied on the unappropriated retained earnings and is recorded as income tax expense in
the year the stockholders resolve to retain the earnings.
C. Deferred tax is recognised, using the balance sheet liability method, on temporary differences
arising between the tax bases of assets and liabilities and their carrying amounts in the
consolidated financial statements. However, the deferred tax is not accounted for if it arises from
initial recognition of goodwill or of an asset or liability in a transaction other than a business
combination that at the time of the transaction affects neither accounting nor taxable profit or
loss and does not give rise to equal taxable and deductible temporary differences. Deferred tax
is provided on temporary differences arising on investments in subsidiaries, except where the
timing of the reversal of the temporary difference is controlled by the Group and it is probable
that the temporary difference will not reverse in the foreseeable future. Deferred tax is
determined using tax rates (and laws) that have been enacted or substantially enacted by the
balance sheet date and are expected to apply when the related deferred tax asset is realised or the
deferred tax liability is settled.
D. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit
will be available against which the temporary differences can be utilised. At each balance sheet
date, unrecognised and recognised deferred tax assets are reassessed.
E. Current income tax assets and liabilities are offset and the net amount is reported in the balance
sheet when there is a legally enforceable right to offset the recognised amounts and there is an
intention to settle on a net basis or realise the asset and settle the liability simultaneously.
Deferred tax assets and liabilities are offset on the balance sheet when the entity has the legally
enforceable right to offset current tax assets against current tax liabilities and they are levied by
the same taxation authority on either the same entity or different entities that intend to settle on
a net basis or realise the asset and settle the liability simultaneously.
(33) Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new
shares or stock options are shown in equity as a deduction, net of tax, from the proceeds.

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(34) Dividends
Dividends are recorded in the Company’s financial statements in the period in which they are
approved by the Company’s shareholders. Cash dividends are recorded as liabilities.
(35) Revenue recognition
A. Sales of goods
(a) The Group manufactures and sells power supply of computers, information technology,
vehicles and electrical machines, automation equipment and related components products.
Sales are recognised when control of the products has transferred, being when the products
are delivered to the customer, the customer has full discretion over the channel and price to
sell the products, and there is no unfulfilled obligation that could affect the customer’s
acceptance of the products. Delivery occurs when the products have been shipped to the
specific location, the risks of obsolescence and loss have been transferred to the customer,
and either the customer has accepted the products in accordance with the sales contract, or
the Group has objective evidence that all criteria for acceptance have been satisfied.
(b) Sales revenue is recognised based on the price specified in the contract, net of the estimated
discounts and allowances. Accumulated experience is used to estimate and provide for the
sales discounts and allowances, using the expected value method, and revenue is only
recognised to the extent that it is highly probable that a significant reversal will not occur.
The estimation is subject to an assessment at each reporting date. A refund liability is
recognised for expected sales discounts and allowances payable to customers in relation to
sales made until the end of the reporting period. Sales are usually made with a credit term of
30 to 90 days after acceptance. As the time interval between the transfer of committed goods
or service and the payment of customer does not exceed one year, the Group does not adjust
the transaction price to reflect the time value of money.
(c) The Group’s obligation to provide a refund for faulty products under the standard warranty
terms is recognised as a provision.
(d) A receivable is recognised when the control of goods are transferred as this is the point in
time that the consideration is unconditional because only the passage of time is required
before the payment is due.
B. Installation of software and module services
(a) The Group provides installation of some software and module services. Revenue from
providing services is recognised in the accounting period in which the services are rendered.
For fixed-price contracts, revenue is recognised based on the actual service provided to the
end of the reporting period as a proportion of the total services to be provided. This is
determined based on the actual cost spent relative to the total expected cost. The customer
pays at the time specified in the payment schedule. If the services rendered exceed the
payment, a contract asset is recognised. If the payments exceed the services rendered, a

202
 contract liability is recognised.
(b) Some contracts include sales and installation services of equipment. The equipment and the
installation services provided by the Group are not distinct and are identified to be one
performance obligation satisfied over time since the installation services involve significant
customisation and modification.
(c) The Group’s estimate about revenue, costs and progress towards complete satisfaction of a
performance obligation is subject to a revision whenever there is a change in circumstances.
Any increase or decrease in revenue or costs due to an estimate revision is reflected in profit
or loss during the period when the management becomes aware of the changes in
circumstances.
C. Incremental costs of obtaining a contract
Given that the contractual period lasts less than one year, the Group recognises the incremental
costs of obtaining a contract as an expense when incurred although the Group expects to recover
those costs.
(36) Government grants
Government grants are recognised at their fair value only when there is reasonable assurance that
the Group will comply with any conditions attached to the grants and the grants will be received.
Government grants are recognised in profit or loss on a systematic basis over the periods in which
the Group recognises expenses for the related costs for which the grants are intended to compensate.
Government grants related to property, plant and equipment are presented by deducting the grants
from the asset’s carrying amount and are amortised to profit or loss over the estimated useful lives
of the related assets as reduced depreciation expenses.
(37) Business combinations

A. The Group uses the acquisition method to account for business combinations. The consideration
transferred for an acquisition is measured as the fair value of the assets transferred, liabilities
incurred or assumed and equity instruments issued at the acquisition date, plus the fair value of
any assets and liabilities resulting from a contingent consideration arrangement. All acquisition-
related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent
liabilities assumed in a business combination are measured initially at their fair values at the
acquisition date. For each business combination, the Group measures at the acquisition date
components of non-controlling interests in the acquiree that are present ownership interests and
entitle their holders to the proportionate share of the entity’s net assets in the event of liquidation
at either fair value or the present ownership instruments’ proportionate share in the recognised
amounts of the acquiree’s identifiable net assets. All other non-controlling interests should be
measured at the acquisition-date fair value.
B. The excess of the consideration transferred, the amount of any non-controlling interest in the
acquiree and the fair value of any previous equity interest in the acquiree over the fair value of
the identifiable assets acquired and the liabilities assumed is recorded as goodwill at the

203
 acquisition date. If the total of consideration transferred, non-controlling interest in the acquiree
recognised and the fair value of previously held equity interest in the acquiree is less than the
fair value of the identifiable assets acquired and the liabilities assumed, the difference is
recognised directly in profit or loss on the acquisition date.
(38) Operating segments
Operating segments are reported in a manner consistent with the internal reporting provided to the
chief operating decision-maker. The Group’s chief operating decision-maker is responsible for
allocating resources and assessing performance of the operating segments.
5. CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND KEY SOURCES OF ASSUMPTION
UNCERTAINTY
The preparation of these consolidated financial statements requires management to make critical
judgments in applying the Group’s accounting policies and make critical assumptions and estimates
concerning future events. Assumptions and estimates may differ from the actual results and are
continually evaluated and adjusted based on historical experience and other factors. Such assumptions
and estimates have a significant risk of causing a material adjustment to the carrying amounts of assets
and liabilities within the next financial year; and the related information is addressed below:
(1) Critical judgments in applying the Group’s accounting policies
Investment property
The Group uses part of the property for its own use and part to earn rentals or for capital appreciation.
When the portions cannot be sold separately and cannot be leased out separately under a finance lease,
the property is classified as investment property only if the own-use portion accounts for less than 20
percent of the property.
(2) Critical accounting estimates and assumptions
Impairment assessment of goodwill
The impairment assessment of goodwill relies on the Group’s subjective judgment, including
identifying cash-generating units, allocating assets and liabilities as well as goodwill to related cash-
generating units, and determining the recoverable amounts of related cash-generating units. Please
refer to Note 6(9) for the information on goodwill impairment.
6. DETAILS OF SIGNIFICANT ACCOUNTS
(1) Cash and cash equivalents
December 31, 2023 December 31, 2022
Cash on hand $ 6,923 $ 6,746
Checking accounts and demand
deposits 55,502,675 45,250,071
Time deposits 31,768,600 16,044,200
Cash equivalents 177,718 245,819
$ 87,455,916 $ 61,546,836

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 A. The Group associates with a variety of financial institutions all with high credit quality to disperse
credit risk, so it expects that the probability of counterparty default is remote.
B. Details of the Group’s cash and cash equivalents pledged to others as collateral are provided in
Note 8.
(2) Financial assets at fair value through profit or loss
Asset Items December 31, 2023 December 31, 2022
Current items:
Financial assets mandatorily measured
at fair value through profit or loss
Listed stocks $ 1,638,877 $ 618,669
Emerging stocks 186,267 71,748
Derivatives 576,526 605,847
Hybrid instrument-
Convertible bonds 90,856 45,009
2,492,526 1,341,273
Valuation adjustment 2,411,548 418,339
$ 4,904,074 $ 1,759,612

Non-current items:
Financial assets mandatorily measured
at fair value through profit or loss
Listed stocks $ 292,902 $ 340,756
Emerging stocks 65,280 222,000
Unlisted stocks 1,425,624 1,521,372
Hybrid instrument-
Convertible preferred stocks 197,148 209,577
Hybrid instrument-
Convertible bonds 13,449 913,449
1,994,403 3,207,154
Valuation adjustment ( 627,028) ( 435,527)
$ 1,367,375 $ 2,771,627
Liability Items
Current items:
Financial liabilities held for trading
Derivatives $ 54,410 $ 74,232

A. The Group has recognised the gain from financial assets and liabilities at fair value of $1,891,458
and $845,835 for the years ended December 31, 2023 and 2022, respectively.

205
B. Details of the transactions and contract information in respect of derivative financial assets and
liabilities for which the Group did not adopt hedge accounting are as follows:
December 31, 2023
Contract amount (nominal
Financial instruments principal) (in thousands) Contract period
Forward exchange contracts:
- Sell AUD / Buy USD AUD 10,250 2023.09.05~2024.06.21
- Sell BRL / Buy USD BRL 24,635 2023.11.06~2024.02.07
- Sell EUR / Buy NOK EUR 10,500 2023.12.22~2024.03.26
- Sell EUR / Buy USD EUR 38,500 2023.06.15~2024.03.28
- Sell HKD / Buy USD HKD 87,000 2023.08.04~2024.08.29
- Sell INR / Buy USD INR 834,178 2023.10.16~2024.02.27
- Sell JPY / Buy USD JPY 3,210,000 2023.07.14~2024.07.24
- Sell THB / Buy EUR THB 76,278 2023.12.18~2024.01.25
- Sell THB / Buy JPY THB 126,828 2023.10.30~2024.02.27
- Sell USD / Buy CZK USD 1,100 2023.11.30~2024.02.21
- Sell USD / Buy EUR USD 8,129 2023.11.28~2024.02.07
- Sell USD / Buy NOK USD 6,000 2023.11.13~2024.02.07
- Sell USD / Buy RMB USD 205,000 2023.11.16~2024.02.05
- Sell USD / Buy SGD USD 30,633 2023.11.30~2024.02.06
- Sell USD / Buy THB USD 420,500 2023.09.07~2024.04.29
- Sell USD / Buy CHF USD 3,000 2023.12.13~2024.04.03
- Sell SGD / Buy USD SGD 11,000 2023.10.30~2024.01.11
Cross currency swap:
- Sell EUR / Buy NOK EUR 16,200 2023.12.06~2024.03.26
- Sell PLN / Buy NOK PLN 5,500 2023.12.22~2024.03.26

December 31, 2022

Contract amount (nominal
Financial instruments principal) (in thousands) Contract period
Forward exchange contracts:
- Sell AUD / Buy USD AUD 4,900 2022.08.16~2023.05.04
- Sell BRL / Buy USD BRL 42,245 2022.11.01~2023.02.06
- Sell COP / Buy USD COP 12,418,840 2022.11.01~2023.02.06
- Sell EUR / Buy NOK EUR 20,700 2022.09.19~2023.05.05
- Sell EUR / Buy USD EUR 39,300 2022.09.06~2023.03.29
- Sell GBP / Buy NOK GBP 4,000 2022.11.22~2023.02.06
- Sell HKD / Buy USD HKD 15,000 2022.08.16~2023.03.03
- Sell INR / Buy USD INR 1,861,085 2022.10.18~2023.03.29
- Sell JPY / Buy USD JPY 753,957 2022.08.19~2023.03.22
- Sell SEK / Buy NOK SEK 20,000 2022.12.28~2023.03.29
- Sell THB / Buy JPY THB 75,464 2022.10.26~2023.03.24

206
 December 31, 2022
Contract amount (nominal
Financial instruments principal) (in thousands) Contract period
- Sell TRY / Buy USD TRY 135,836 2022.10.13~2023.03.30
- Sell TWD / Buy USD TWD 147,375 2022.07.21~2023.01.18
- Sell USD / Buy CZK USD 400 2022.12.19~2023.01.18
- Sell USD / Buy NOK USD 2,111 2022.12.12~2023.03.06
- Sell USD / Buy RMB USD 179,000 2022.11.24~2023.02.06
- Sell USD / Buy SGD USD 41,649 2022.09.12~2023.06.05
- Sell USD / Buy THB USD 358,000 2022.09.12~2023.04.25
- Sell USD / Buy TWD USD 10,000 2022.11.29~2023.03.17
Cross currency swap:
- Sell EUR / Buy NOK EUR 13,000 2022.12.21~2023.03.30
- Sell PLN / Buy NOK PLN 8,500 2022.12.21~2023.03.30

The Group entered into forward exchange contracts and cross currency swap to manage exposures
to foreign exchange rate fluctuations of import or export sales, loans between related parties and
dividend distribution within the Group. However, the forward exchange transactions did not meet
the criteria for hedge accounting. Therefore, the Group did not apply hedge accounting.
C. The Group has no financial assets at fair value through profit or loss pledged to others.
D. Information relating to credit risk is provided in Note 12(2).
(3) Financial assets at fair value through other comprehensive income
Items December 31, 2023 December 31, 2022
Non-current items:
Equity instruments
Listed stocks $ 1,608,699 $ 1,608,699
Unlisted stocks 1,082,261 714,532
2,690,960 2,323,231
Valuation adjustment ( 695,930) ( 582,678)
$ 1,995,030 $ 1,740,553

A. The Group has elected to classify investments that are considered to be strategic investments as
financial assets at fair value through other comprehensive income. The fair value of such
investments amounted to $1,995,030 and $1,740,553 as at December 31, 2023 and 2022,
respectively.
B. During the years ended December 31, 2023 and 2022, the Group disposed certain investments that
no longer have strategic purposes. Stocks totalling $554,179 and $81,320 were sold at fair value,
resulting to a cumulative gain on disposal of $464,305 and $9,874 for the years ended December
31, 2023 and 2022.
C. Amounts recognised in profit or loss and other comprehensive income in relation to the financial
assets at fair value through other comprehensive income are listed below:

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 Years ended December 31,
2023 2022
Equity instruments at fair value through other
comprehensive income
Fair value change recognised in other
comprehensive income $ 352,641 $ 217,848
Cumulative gain reclassified to retained
earnings due to derecognition $ 464,305 $ 9,874

D. As at December 31, 2023 and 2022, without taking into account any collateral held or other credit
enhancements, the maximum exposure to credit risk in respect of the amount that best represents
the financial assets at fair value through other comprehensive income held by the Group were
$1,995,030 and $1,740,553, respectively.
E. The Group has no financial assets at fair value through other comprehensive income pledged to
others as collateral.
(4) Hedging financial assets and liabilities
The Group used Euro denominated demand deposits as a hedging instrument to hedge the highly
probable foreign exchange variation of Euro denominated investment payable which is expected to
occur in the future, and the instrument adopted the accounting of cash flow hedges. The portion of
changes in the hedging instrument caused by exchange rate risk that was determined to be an effective
hedge was deferred and recognised as gain or loss on the hedging instrument under other equity items.
Subsequently, when the probable purchase transaction of hedged investments occurred, and the
proceeds of Euro denominated investment payable were paid by hedging instruments, the gain or loss
on the hedging instrument under other equity items was reclassified to the initial cost of long-term
equity investments. The aforementioned transaction was completed on the balance sheet date. At
December 31, 2023 and 2022, the Group’s hedging financial assets and liabilities are both $0.
Related transaction information is as follows:
A. Other equity - cash flow hedge reserve:
2023
At January 1 $ -
Add: Gain on hedge effectiveness-amount
recognised in other comprehensive income 170,271
Less: Reclassified to long-term investment
due to the occurrence of hedged probable transaction ( 170,271)
At December 31 $ -

B. Information on cash flow hedges and hedges of net investments in foreign operations recognised
in profit or loss and other comprehensive income:

208
 Years ended December 31,
2023 2022
Other equity
At January 1 $ 129,917 $ 129,917
Add: Loss on hedge effectiveness-amount
recognised in other comprehensive income - -
At December 31 $ 129,917 $ 129,917
(a) The purpose of hedge accounting is that the hedged highly probable forecast transactions
denominated in foreign currency are expected to occur, which are recycled into profit or loss
in the period or periods when the hedged item affects profit or loss.
(b) Hedges of net investments in foreign operations
In the first quarter of 2018, due to the reorganisation of the Group, the risk of USD exchange
rate fluctuating by fair value initially designated as hedged items of hedges of net investments
in foreign operations was no longer material. Consequently, the hedge relationship did not
meet the conditions of hedge accounting. The effective portion of hedges of net investments
in foreign operations was accumulated in other equity previously. Since the foreign operations
was not disposed, it was not reclassified from equity to profit or loss.
(5) Notes and accounts receivable
December 31, 2023 December 31, 2022
Notes receivable $ 2,245,939 $ 3,123,642

Accounts receivable $ 77,760,524 $ 84,577,637

Less: Allowance for uncollectible accounts ( 632,601) ( 503,568)
$ 77,127,923 $ 84,074,069
Overdue receivables
(shown as other non-current assets) $ 264,991 $ 293,877
Less: Allowance for uncollectible accounts ( 264,991) ( 293,877)
$ - $ -
A. The aging analysis of accounts receivable is as follows:
December 31, 2023 December 31, 2022
Not past due $ 65,274,347 $ 73,676,921
1 to 90 days 11,479,401 9,781,373
91 to 180 days 454,029 687,649
181 to 365 days 324,169 213,655
Over 366 days 228,578 218,039
$ 77,760,524 $ 84,577,637
The above aging analysis was based on past due date.
B. As at December 31, 2023 and 2022, there was no notes receivable past due.
C. As at December 31, 2023 and 2022, accounts receivable and notes receivable were all from

209
 contracts with customers. As at January 1, 2022, the balance of receivables from contracts with
customers amounted to $70,857,010.
D. Details of the Group’s accounts receivable pledged to others as collateral are provided in Note 8.
The Group has no notes receivable and accounts receivable pledged to others as collateral in 2022.
E. As at December 31, 2023 and 2022, without taking into account any collateral held or other credit
enhancements, the maximum exposure to credit risk in respect of the amount that best represents
the Group’s notes receivable were $2,245,939 and $3,123,642, and accounts receivable were
$77,127,923 and $84,074,069, respectively.
F. Information relating to credit risk is provided in Note 12(2).
(6) Inventories
December 31, 2023
Allowance for
Cost valuation loss Book value
Raw materials $ 36,687,320 ($ 10,486,228) $ 26,201,092
Work in process 7,957,085 ( 36,879) 7,920,206
Finished goods 49,000,191 ( 7,940,644) 41,059,547
Inventory in transit 1,045,717 - 1,045,717
$ 94,690,313 ($ 18,463,751) $ 76,226,562

December 31, 2022

Allowance for
Cost valuation loss Book value
Raw materials $ 38,320,991 ($ 7,474,693) $ 30,846,298
Work in process 8,284,302 ( 14,298) 8,270,004
Finished goods 45,601,495 ( 5,520,193) 40,081,302
Inventory in transit 646,760 - 646,760
$ 92,853,548 ($ 13,009,184) $ 79,844,364
The cost of inventories recognised as expense or loss for the year:
Years ended December 31,
2023 2022
Cost of goods sold $ 266,817,661 $ 260,877,806
Loss on market value decline and obsolete and
slow-moving inventories 7,939,420 5,845,899
Others ( 1,218,083) ( 931,623)
$ 273,538,998 $ 265,792,082

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(7) Property, plant and equipment
Unfinished
construction
Buildings and Machinery and Testing and equipment
At January 1, 2023 Land structures equipment equipment Others under acceptance Total
Cost $ 16,093,942 $ 55,651,841 $ 61,671,200 $ 22,998,550 $ 23,840,987 $ 9,853,136 $ 190,109,656
Accumulated depreciation and
impairment ( 10,036) ( 25,212,383) ( 41,448,111) ( 17,897,282) ( 19,275,257) - ( 103,843,069)
$ 16,083,906 $ 30,439,458 $ 20,223,089 $ 5,101,268 $ 4,565,730 $ 9,853,136 $ 86,266,587

2023
Opening net book amount $ 16,083,906 $ 30,439,458 $ 20,223,089 $ 5,101,268 $ 4,565,730 $ 9,853,136 $ 86,266,587
Additions (Note) 248,067 916,896 7,836,365 4,472,820 2,850,447 11,491,561 27,816,156
Acquired through business combinations 7,765 22,860 479,485 432 93,077 83,654 687,273
Effect on decrease in business entities - - - - ( 547) - ( 547)
Disposals ( 3,501) ( 110,663) ( 81,784) ( 16,332) ( 36,422) - ( 248,702)
Transfers/Reclassifications 17,244 3,912,532 2,562,187 286,689 991,647 ( 7,138,948) 631,351
Depreciation charge - ( 2,360,866) ( 8,780,163) ( 2,871,402) ( 2,739,479) - ( 16,751,910)
Impairment loss - ( 70,300) ( 82) ( 931) ( 21,582) - ( 92,895)
Net exchange differences ( 3,007) ( 75,111) ( 134,807) 7,404 ( 24,904) ( 75,373) ( 305,798)
Closing net book amount $ 16,350,474 $ 32,674,806 $ 22,104,290 $ 6,979,948 $ 5,677,967 $ 14,214,030 $ 98,001,515

At December 31, 2023

Cost $ 16,359,854 $ 59,458,670 $ 68,980,995 $ 26,429,240 $ 26,576,440 $ 14,214,030 $ 212,019,229
Accumulated depreciation and
impairment ( 9,380) ( 26,783,864) ( 46,876,705) ( 19,449,292) ( 20,898,473) - ( 114,017,714)
$ 16,350,474 $ 32,674,806 $ 22,104,290 $ 6,979,948 $ 5,677,967 $ 14,214,030 $ 98,001,515

Note: The additions were net of government grants.

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 Unfinished
construction
Buildings and Machinery and Testing and equipment
At January 1, 2022 Land structures equipment equipment Others under acceptance Total
Cost $ 15,139,283 $ 51,485,311 $ 52,261,356 $ 19,872,926 $ 21,356,997 $ 8,264,905 $ 168,380,778
Accumulated depreciation and
impairment ( 10,395) ( 23,378,205) ( 35,386,205) ( 15,840,483) ( 17,158,205) - ( 91,773,493)
$ 15,128,888 $ 28,107,106 $ 16,875,151 $ 4,032,443 $ 4,198,792 $ 8,264,905 $ 76,607,285

2022
Opening net book amount $ 15,128,888 $ 28,107,106 $ 16,875,151 $ 4,032,443 $ 4,198,792 $ 8,264,905 $ 76,607,285
Additions (Note 1) 728,890 2,613,545 7,526,107 3,035,324 2,233,398 5,675,359 21,812,623
Acquired through business combinations 14,227 79,127 47,243 - 2,763 - 143,360
Disposals ( 75,929) ( 168,650) ( 110,935) ( 25,006) ( 36,538) - ( 417,058)
Transfers (Note 2) ( 23,364) 1,250,412 2,402,469 399,584 565,318 ( 4,273,868) 320,551
Depreciation charge - ( 2,172,418) ( 7,119,721) ( 2,470,087) ( 2,575,656) - ( 14,337,882)
Net exchange differences 311,194 730,336 602,775 129,010 177,653 186,740 2,137,708
Closing net book amount $ 16,083,906 $ 30,439,458 $ 20,223,089 $ 5,101,268 $ 4,565,730 $ 9,853,136 $ 86,266,587

At December 31, 2022

Cost $ 16,093,942 $ 55,651,841 $ 61,671,200 $ 22,998,550 $ 23,840,987 $ 9,853,136 $ 190,109,656
Accumulated depreciation and
impairment ( 10,036) ( 25,212,383) ( 41,448,111) ( 17,897,282) ( 19,275,257) - ( 103,843,069)
$ 16,083,906 $ 30,439,458 $ 20,223,089 $ 5,101,268 $ 4,565,730 $ 9,853,136 $ 86,266,587

Note: 1. The additions were net of government grants.

2. On October 1, 2021, the Board of Directors resolved to dispose a number of battery cell assembly equipment and transferred the equipment
amounting to $320,551 to non-current assets held for sale at the lower of carrying amount and fair value less costs to sell. However, the
equipment was transferred back from assets held for sale as the Company and the buyer both agreed to terminate the contract for the disposal
of the equipment on March 31, 2022.
A. The Group’s property, plant and equipment are mainly owner-occupied.
B. No interest expense was capitalised as part of property, plant and equipment.
C. Information about the property, plant and equipment that were pledged to others as collateral is provided in Note 8.

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(8) Leasing arrangements - lessee
A. The Group leases various assets including land, buildings and transportation equipment. Rental
contracts are typically made for periods of 1 to 21 years. Lease terms are negotiated on an
individual basis and contain a wide range of different terms and conditions. The lease agreements
do not impose covenants, but leased assets may not be used as security for borrowing purposes.
B. The carrying amount of right-of-use assets and the depreciation charge are as follows:
December 31, 2023 December 31, 2022
Book value Book value
Land $ 2,141,138 $ 2,842,408
Buildings and structures 2,310,912 2,064,549
Transportation equipment 136,158 117,174
Other equipment 246,677 62,192
$ 4,834,885 $ 5,086,323
Years ended December 31,
2023 2022
Depreciation charge Depreciation charge
Land $ 67,570 $ 52,457
Buildings and structures 640,555 543,859
Transportation equipment 79,229 66,103
Other equipment 37,804 19,942
$ 825,158 $ 682,361
C. For the years ended December 31, 2023 and 2022, the additions to right-of-use assets (excluding
those acquired through business combinations) were $632,355 and $2,320,655 (net of government
grants of $637,890), respectively.
D. Information on profit or loss in relation to lease contracts is as follows:
Years ended December 31,
2023 2022
Items affecting profit or loss
Interest expense on lease liabilities $ 40,712 $ 21,252
Expense on short-term lease contracts $ 777,920 $ 659,649

E. For the years ended December 31, 2023 and 2022, the Group’s total cash outflow for leases were
$1,634,786 and $2,621,066, respectively.
F. Extension options
(a) Extension options are included in the Group’s lease contracts pertaining to certain land. These
terms and conditions are the lessor’s general practice and for the Group to effectively utilise
the assets.
(b) In determining the lease term, the Group takes into consideration all facts and circumstances
that create an economic incentive to exercise an extension option. The assessment of lease
period is reviewed if a significant event occurs which affects the assessment.

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(9) Intangible assets
Customer Technical
At January 1, 2023 Trademarks Patents Goodwill Relationship Skill Others Total
Cost $ 4,307,832 $ 1,829,078 $ 60,126,073 $ 19,451,343 $ 13,277,950 $ 4,001,160 $ 102,993,436
Accumulated amortisation and
impairment ( 1,906,823) ( 1,710,031) ( 1,288,023) ( 11,932,672) ( 5,780,326) ( 3,205,707) ( 25,823,582)
$ 2,401,009 $ 119,047 $ 58,838,050 $ 7,518,671 $ 7,497,624 $ 795,453 $ 77,169,854
2023
Opening net book amount $ 2,401,009 $ 119,047 $ 58,838,050 $ 7,518,671 $ 7,497,624 $ 795,453 $ 77,169,854
Additions - acquired separately 1,886 24,015 - - - 443,989 469,890
Additions - acquired through business
combinations (Note) 574 - 2,723,415 1,407,617 1,233,738 5,648 5,370,992
Reclassifications (Note) 104,790 - ( 110,239) - 5,449 - -
Amortisation ( 265,313) ( 25,887) - ( 1,595,915) ( 1,375,200) ( 750,370) ( 4,012,685)
Impairment loss - - ( 226,020) - - - ( 226,020)
Net exchange differences 6,243 314 ( 112,027) ( 53,135) ( 84,001) 14,979 ( 227,627)
Closing net book amount $ 2,249,189 $ 117,489 $ 61,113,179 $ 7,277,238 $ 7,277,610 $ 509,699 $ 78,544,404

At December 31, 2023

Cost $ 4,419,258 $ 1,853,606 $ 62,622,912 $ 20,809,863 $ 14,203,779 $ 4,226,105 $ 108,135,523
Accumulated amortisation and
impairment ( 2,170,069) ( 1,736,117) ( 1,509,733) ( 13,532,625) ( 6,926,169) ( 3,716,406) ( 29,591,119)
$ 2,249,189 $ 117,489 $ 61,113,179 $ 7,277,238 $ 7,277,610 $ 509,699 $ 78,544,404

(Note) The additions - acquired through business combinations and reclassifications resulted from the reallocation of the purchase price relative to the
acquisition of HY&T, Atrust Computer and UI Acquisition Holding Co. (UI). The allocation of the acquisition price for UI was completed in the
first quarter of 2023 and the amount of the allocation of the acquisition price decreased by $33,473 as the equity was adjusted. The allocation of
the acquisition price for HY&T will be completed within one year.

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 Customer Technical
At January 1, 2022 Trademarks Patents Goodwill Relationship Skill Others Total
Cost $ 4,072,330 $ 1,590,408 $ 54,420,933 $ 18,089,972 $ 11,152,791 $ 5,241,533 $ 94,567,967
Accumulated amortisation and
impairment ( 1,397,642) ( 1,403,201) ( 785,167) ( 9,517,533) ( 4,128,341) ( 3,726,519) ( 20,958,403)
$ 2,674,688 $ 187,207 $ 53,635,766 $ 8,572,439 $ 7,024,450 $ 1,515,014 $ 73,609,564
2022
Opening net book amount $ 2,674,688 $ 187,207 $ 53,635,766 $ 8,572,439 $ 7,024,450 $ 1,515,014 $ 73,609,564
Additions - acquired separately 1,349 13,784 - - - 600,403 615,536
Additions - acquired through
business combinations (Note) - - 444,604 ( 10,556) 413,714 - 847,762
Reclassifications (Note) ( 171,804) - 199,800 ( 376,636) 570,495 ( 577,077) ( 355,222)
Amortisation ( 253,440) ( 81,117) - ( 1,480,032) ( 1,253,100) ( 848,243) ( 3,915,932)
Impairment loss - - ( 417,151) - - - ( 417,151)
Net exchange differences 150,216 ( 827) 4,975,031 813,456 742,065 105,356 6,785,297
Closing net book amount $ 2,401,009 $ 119,047 $ 58,838,050 $ 7,518,671 $ 7,497,624 $ 795,453 $ 77,169,854

At December 31, 2022

Cost $ 4,307,832 $ 1,829,078 $ 60,126,073 $ 19,451,343 $ 13,277,950 $ 4,001,160 $ 102,993,436
Accumulated amortisation and
impairment ( 1,906,823) ( 1,710,031) ( 1,288,023) ( 11,932,672) ( 5,780,326) ( 3,205,707) ( 25,823,582)
$ 2,401,009 $ 119,047 $ 58,838,050 $ 7,518,671 $ 7,497,624 $ 795,453 $ 77,169,854

(Note) The additions - acquired through business combinations and reclassifications resulted from the adjustment of the contingent proceeds and the
reallocation of the purchase price relative to the acquisition of March and UI. The allocation of the acquisition price for March was completed in
the second quarter of 2022 and the contingent consideration decreased by $10,556 based on the adjustment to the estimated purchase price. The
allocation of the acquisition price for UI will be completed within one year.

215
A. Details of amortisation on intangible assets are as follows:
Years ended December 31,
2023 2022
Operating costs $ 68,962 $ 69,105
Selling expenses 1,868,798 1,738,944
Administrative expenses 145,164 213,309
Research and development expenses 1,929,761 1,894,574
$ 4,012,685 $ 3,915,932

B. The Group acquired registered or under-application trademark rights such as ,

, , , VIVITEK, 麗訊, , , ,

, , , , and

. Trademarks are assessed to have finite useful lives. The remaining trademarks
which have indefinite useful lives shall not be amortised but are tested for impairment annually.

C. Goodwill and trademarks with indefinite useful lives are allocated as follows to the Group’s cash-
generating units identified according to operating segment:
December 31, 2023 December 31, 2022
Goodwill:
DET $ 36,508,534 $ 36,514,479
Eltek (Note) 5,290,376 5,291,237
Cyntec 5,146,053 5,146,053
Vivotek 3,232,954 3,232,954
DCI 2,547,433 2,547,848
HY&T 2,046,549 -
DGC 1,765,015 1,765,303
Amerlux 1,191,084 1,191,277
March 1,029,508 1,029,676
Trihedral 748,645 748,767
Atrust 606,029 -
Others 1,000,999 1,370,456
$ 61,113,179 $ 58,838,050

Trademarks:
Automation business $ 799,279 $ 691,811
Infrastructure business 386,823 386,823
$ 1,186,102 $ 1,078,634

(Note) It was renamed as DELTA ELECTRONICS (NORWAY) AS.

Acquisition prices in business combination are calculated based on the price of acquisition and
direct costs related to the acquisition. The amount of goodwill recognised is the difference

216
 between the acquisition price and the net fair value of identifiable assets acquired. The
amortisation duration of acquisition price shall not exceed one year after the acquisition.
D. The Group's goodwill arose from business combinations in order to improve benefit comprising
of potential customer relationships and operating revenue in the location of acquired companies.
Based on IAS 36, goodwill acquired in a business combination should be tested at least annually
for impairment. For the impairment testing of goodwill, goodwill acquired in a business
combination is allocated to each of the cash-generating units that are expected to benefit from
the synergies of the business combination. Each company may be a cash-generating unit which
can generate independent cash flows.
In assessing the impairment of goodwill and trademarks with indefinite useful lives, for the
goodwill of DET and Vivotek, the recoverable amount is the higher of the companies' fair value
less costs of disposal and value-in-use (the fair value is classified as a level 2 fair value after the
Group's assessment based on the closing price at the balance sheet date and considering premium,
as the closing price is a transaction price without control in the centralized securities exchange
market); for the goodwill and trademarks with indefinite useful lives of each cash-generating unit,
the impairment is calculated based on value-in-use and carrying amount of net assets of each
company. The key assumptions used for value-in-use calculations are operating profit margin.
growth rate and discount rate.
Management determined budgeted operating profit margin based on past performance and its
expectations of market development. The weighted average growth rates used are consistent with
the forecasts included in industry reports. The discount rates used are pre-tax and reflect specific
risks relating to the relevant operating segments.
As the recoverable amount of the cash-generating unit, MES and others, calculated using the
value-in-use is less than the carrying amount, the Group recognised impairment loss of $226,020
and $417,151 on goodwill for the years ended December 31, 2023 and 2022, respectively. The
discount rate used in calculating value-in-use was 9.69% and 10.5% on December 31, 2023 and
2022, respectively.
(10) Other non-current assets
December 31, 2023 December 31, 2022
Prepayments for business facilities $ 1,392,610 $ 1,090,269
Guarantee deposits paid 1,367,205 1,722,926
Financial assets at amortised cost 29,274 143,498
Cash surrender value of life insurance 25,340 28,106
Prepayments for long-term investments 5,591 16,772
Others 569,873 597,411
$ 3,389,893 $ 3,598,982

(11) Short-term borrowings

December 31, 2023 December 31, 2022
Unsecured bank loans $ 3,251,001 $ 2,076,762
Secured loans 83,887 -
Total $ 3,334,888 $ 2,076,762
Credit lines $ 78,854,208 $ 76,659,861
Interest rate range 0.49%~9.90% 0.48%~18.30%

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(12) Other payables
December 31, 2023 December 31, 2022
Salary, bonus and compensation payable $ 26,806,844 $ 24,175,196
Others 17,529,181 16,543,486
$ 44,336,025 $ 40,718,682
(13) Bonds payable
December 31, 2023 December 31, 2022
Domestic unsecured corporate bonds $ 29,100,000 $ 11,600,000
The Company issued the domestic unsecured ordinary corporate bonds for the years ended
December 31, 2023 and 2022. The main conditions are as follows:
Total issuance
Issuance Type of bonds Issuance period amount Coupon rate Repayment term
First issuance in Tranche A April 2022 - April $ 5,900,000 0.85% Principal is
2022 2027 repayable at
maturity and
interest is repayable
annually
First issuance in Tranche B April 2022 - April 700,000 0.90% 〃
2022 2029
Second issuance October 2022 - 5,000,000 1.45% 〃
in 2022 October 2025
First issuance in January 2023 - 5,000,000 1.83% 〃
2023 January 2026
Second issuance Tranche A April 2023 - April 3,000,000 1.43% 〃
in 2023 2026
Second issuance Tranche B April 2023 - April 3,500,000 1.53% 〃
in 2023 2028
Third issuance June 2023 - June 6,000,000 1.49% 〃
in 2023 2026
(14) Long-term borrowings
Type of borrowings December 31, 2023 December 31, 2022
Credit loans $ 24,700,570 $ 32,503,019
Collateral loans 159,530 276,747
24,860,100 32,779,766
Less: Current portion ( 2,539,678) ( 42,424)
$ 22,320,422 $ 32,737,342
Credit lines $ 98,513,267 $ 98,916,583
Interest rate range 0.43%~6.23% 0.43%~6.23%

A. As at December 31, 2023, the revolving loans of $20,361,520 can be drawn down during the
period from November 14, 2022 to January 4, 2026 and are payable before the due date under

218
 the agreement.
B. Information in relation to the assets pledged to others as collateral for bank borrowings is
provided in Note 8.
(15) Pensions
A. Defined benefit plan
(a) The Group has a defined benefit pension plan as follows:
i. The Company and its domestic subsidiaries have a defined benefit pension plan in
accordance with the Labor Standards Act, covering all regular employees’ service years
prior to the enforcement of the Labor Pension Act on July 1, 2005 and service years
thereafter of employees who chose to continue to be subject to the pension mechanism
under the Labor Standards Act. Under the defined benefit pension plan, two units are
accrued for each year of service for the first 15 years and one unit for each additional year
thereafter, subject to a maximum of 45 units. Pension benefits are based on the number of
units accrued and the average monthly salaries and wages of the last 6 months prior to
retirement. The Company and its domestic subsidiaries contribute monthly an amount
equal to 2% of the employees’ monthly salaries and wages to the retirement fund deposited
with Bank of Taiwan, the trustee, under the name of the independent retirement fund
committee. Also, the Company and its domestic subsidiaries would assess the balance in
the aforementioned labor pension reserve account by December 31, every year. If the
account balance is not enough to pay the pension calculated by the aforementioned method
to the employees expected to qualify for retirement in the following year, the Company
and its domestic subsidiaries will make contribution for the deficit by next March.
ii. Certain subsidiaries located in Mainland China maintain defined benefit retirement
(resignation) plans with relative contribution scheme. The employees and the subsidiaries
contribute an amount relatively based on a certain percentage of the monthly basic salary
depending on the employee’s position. When an employee retires or resigns, the total
contribution from the employee is reimbursed based on the accumulated contribution
(without interest) less withdrawals made by the employee in advance during the service
period. The employee is also entitled to receive benefits calculated based on the
accumulated contribution (without interest) from the related subsidiary multiplied by the
approved benefit percentage for the employee’s service years less withdrawals made by
the employee in advance during the service period. The scheme mentioned above ceased
on August 1, 2004. The amount contributed before was archived, and the payment scheme
was not changed.
iii. The subsidiaries in Thailand, Switzerland and Norway, etc. have an obligation to pay
certain retirement benefits when employees retire based on labor regulations.
(b) The amounts recognised in the balance sheet are as follows:

219
 December 31, 2023 December 31, 2022
Present value of defined benefit obligations ($ 6,947,537) ($ 6,642,375)
Fair value of plan assets 3,742,203 3,522,719
Adjustment to plan assets ceiling ( 219,239) ( 164,796)
Net defined benefit liability (Listed as other
($ 3,424,573) ($ 3,284,452)
non-current liabilities)
(c) Movements in net defined benefit liabilities are as follows:
2023
Present value of
defined benefit Fair value Adjustment to Net defined
obligation of plan assets plan assets ceiling benefit liability
Balance at January 1 ($ 6,642,375) $ 3,522,719 ($ 164,796) ($ 3,284,452)
Acquired through business
combinations ( 6,443) 21,363 - 14,920
Current service cost ( 110,563) - - ( 110,563)
Interest (expense) income ( 143,687) 60,248 ( 3,607) ( 87,046)
Past service cost 10,318 - - 10,318
( 6,892,750) 3,604,330 ( 168,403) ( 3,456,823)
Remeasurements:
Return on plan assets (excluding
amounts included in interest
income or expense) - 32,707 - 32,707
Change in demographic
assumptions 7,666 - - 7,666
Change in financial assumptions ( 71,832) - - ( 71,832)
Experience adjustments ( 135,651) - - ( 135,651)
( 199,817) 32,707 - ( 167,110)
Pension fund contribution ( 13,873) 143,607 - 129,734
Paid pension 278,918 ( 136,557) - 142,361
Settlement 5,416 ( 5,416) - -
Adjustment to plan assets ceiling
(excluding amounts included
in interest income or expense) - - ( 32,672) ( 32,672)
Exchange difference ( 125,431) 103,532 ( 18,164) ( 40,063)
Balance at December 31 ($ 6,947,537) $ 3,742,203 ($ 219,239) ($ 3,424,573)

220
 2022
Present value of
defined benefit Fair value Adjustment to Net defined
obligation of plan assets plan assets ceiling benefit liability
Balance at January 1 ($ 6,871,348) $ 3,339,507 $ - ($ 3,531,841)
Current service cost ( 83,102) - - ( 83,102)
Interest (expense) income ( 87,226) 24,339 - ( 62,887)
Past service cost ( 56,303) - - ( 56,303)
( 7,097,979) 3,363,846 - ( 3,734,133)
Remeasurements:
Return on plan assets (excluding
amounts included in interest
income or expense) - 136,073 - 136,073
Change in demographic
assumptions 24,914 - - 24,914
Change in financial assumptions 674,580 - - 674,580
Experience adjustments ( 389,317) - - ( 389,317)
310,177 136,073 - 446,250
Pension fund contribution 10,085 99,059 - 109,144
Paid pension 293,147 ( 182,794) - 110,353
Settlement 11,060 - - 11,060
Adjustment to plan assets ceiling
(excluding amounts included
in interest income or expense) - - ( 154,767) ( 154,767)
Exchange difference ( 168,865) 106,535 ( 10,029) ( 72,359)
Balance at December 31 ($ 6,642,375) $ 3,522,719 ($ 164,796) ($ 3,284,452)

(d) The Bank of Taiwan was commissioned to manage the Fund of the Company’s and domestic
subsidiaries’ defined benefit pension plan in accordance with the Fund’s annual investment
and utilisation plan and the “Regulations for Revenues, Expenditures, Safeguard and
Utilisation of the Labor Retirement Fund” (Article 6: The scope of utilisation for the Fund
includes deposit in domestic or foreign financial institutions, investment in domestic or
foreign listed, over-the-counter, or private placement equity securities, investment in
domestic or foreign real estate securitization products, etc.). With regard to the utilisation of
the Fund, its minimum earnings in the annual distributions on the final financial statements
shall be no less than the earnings attainable from the amounts accrued from two-year time
deposits with the interest rates offered by local banks. If the earnings is less than
aforementioned rates, government shall make payment for the deficit after being authorized
by the Regulator. The Company and its domestic subsidiaries have no right to participate in
managing and operating that fund and hence the Company and its domestic subsidiaries are
unable to disclose the classification of plan asset fair value in accordance with IAS 19
paragraph 142. The composition of fair value of plan assets as at December 31, 2023 and
2022 is given in the Annual Labor Retirement Fund Utilisation Report announced by the
government.

221
 (e) The principal actuarial assumptions used were as follows:
Years ended December 31,
2023 2022
Discount rate 0.03%~10.30% 0.03%~7.40%
Future salary increases 2.0%~8.3% 2.5%~8.5%
Assumptions regarding future mortality experience are set based on actuarial advice in
accordance with published statistics and experience in each territory.
Because the main actuarial assumption changed, the present value of defined benefit
obligation is affected. The analysis is as follows:
Discount rate Future salary increases
Increase Decrease Increase Decrease
0.25%~1% 0.25%~1% 0.25%~2.75% 0.25%~2.75%
December 31, 2023
Effect on present value of
defined benefit obligation ($ 224,471) $ 246,997 $ 83,101 ($ 68,612)

Discount rate Future salary increases

Increase Decrease Increase Decrease
0.25%~1% 0.25%~1% 0.25%~2.75% 0.25%~2.75%
December 31, 2022
Effect on present value of
defined benefit obligation ($ 217,109) $ 230,146 $ 169,909 ($ 160,522)

The sensitivity analysis above was arrived at based on one assumption which changed while
the other conditions remain unchanged. In practice, more than one assumption may change
all at once. The method of analysing sensitivity and the method of calculating net pension
liability in the balance sheet are the same.
(f) Expected contributions to the defined benefit pension plans of the Group for the year ending
December 31, 2023 amount to $223,309.
(g) As at December 31, 2023, the weighted average duration of that retirement plan is 3~21 years.
B. Defined contribution plan
(a) Effective July 1, 2005, the Company and its domestic subsidiaries have established a
defined contribution pension plan (the “New Plan”) under the Labor Pension Act, covering
all regular employees with R.O.C. nationality. Under the New Plan, the Company and its
domestic subsidiaries contribute monthly an amount based on 6% of the employees’ monthly
salaries and wages to the employees’ individual pension accounts at the Bureau of Labor
Insurance. The benefits accrued are paid monthly or in lump sum upon termination of
employment. The pension costs under the defined contribution pension plans of the Company
and its domestic subsidiaries for the years ended December 31, 2023 and 2022 were $739,695
and $613,076, respectively.

222
 (b) Other overseas companies have defined contribution plans in accordance with the local
regulations. Other than the periodic contribution, the overseas companies have no further
obligations.
(16) Share capital
A. In accordance with the Company’s Articles of Incorporation, the total authorised common stock
is 4 billion shares (including 100 million shares for stock warrants conversion). As at December
31, 2023, the total issued and outstanding common stock was 2,597,543 thousand shares with
par value of $10 (in dollars) per share.
B. On December 20, 2004, the Board of Directors of the Company adopted a resolution that allowed
certain stockholders to issue 16 million units of global depository receipts (GDRs), represented
by 80 million shares of common stock (Deposited Shares), with one unit of GDR representing 5
shares of common stock. After obtaining approval from SFB, these GDRs were listed on the
Securities Exchange of Luxembourg on March 29, 2005, with total proceeds of US$134,666
thousand. The issuance of GDRs was represented by outstanding shares, therefore, there is no
dilutive effect on the common shares’ equity. The main terms and conditions of the GDRs are as
follows:
(a) Voting rights
GDR holders may, pursuant to the Depositary Agreement and the relevant laws and
regulations of the R.O.C., exercise the voting rights pertaining to the underlying common
shares represented by the GDRs.
(b) Redemption of GDRs
For sales and redemption of the underlying common shares represented by the GDRs when
the holders of the GDRs request the Depositary to redeem the GDRs in accordance with the
relevant R.O.C. regulations and the provisions in the Depositary Agreement, the Depositary
may (i) deliver the underlying common shares represented by the GDRs to the GDR holders,
or (ii) sell the underlying common shares represented by the GDRs in the R.O.C. stock market
on behalf of the GDR holder. The payment of proceeds from such sale shall be made subject
to the relevant R.O.C. laws and regulations and the provisions in the Depositary Agreement.
(c) Distribution of dividends, preemptive rights and other rights
Distribution of dividends, preemptive rights and other rights and interests of GDR units bear
the same rights as common shares.
(d) After considering the stock dividend distribution year by year, as at December 31, 2023, there
were 254 thousand units outstanding, representing 1,272 thousand common shares of the
Company’s common stock.
(17) Capital surplus
Pursuant to the R.O.C. Company Law, capital surplus arising from paid-in capital in excess of par
value on issuance of common stocks and donations can be used to cover accumulated deficit or to
issue new stocks or cash to shareholders in proportion to their share ownership, provided that the

223
 Company has no accumulated deficit. Further, the R.O.C. Securities and Exchange Law requires
that the amount of capital surplus to be capitalised mentioned above should not exceed 10% of the
paid-in capital each year. Capital surplus should not be used to cover accumulated deficit unless the
legal reserve is insufficient.
(18) Retained earnings
A. Under the Company’s Articles of Incorporation, the current year’s earnings, if any, shall be
distributed in the following order:
(a) Payment of all taxes and dues.
(b) Offset against prior years’ operating losses, if any.
(c) Set aside 10% of the remaining amount as legal reserve, unless the accumulated amount of
the legal reserve has reached the total authorised capital of the Company.
(d) Setting aside or reversing a special reserve according to relevant regulations when necessary.
(e) The remainder along with the beginning unappropriated earnings shall be distributed as
dividends to stockholders. The appropriation of earnings shall be proposed by the Board of
Directors and resolved by the shareholders.
As the Company is in the growth stage, taking into consideration the shareholders’ benefits,
financial health and business development, projected capital expenditures and reinvestment
plans in the future, the amount of dividends distributed to shareholders shall not be lower
than 50% of post-tax profit for the current year. Cash dividends shall be at least 15% of the
total dividends distributed to shareholders.
B. Except for covering accumulated deficit or issuing new stocks or cash to shareholders in
proportion to their share ownership, the legal reserve shall not be used for any other purpose.
The use of legal reserve for the issuance of stocks or cash to shareholders in proportion to their
share ownership is permitted, provided that the distribution of the reserve is limited to the portion
in excess of 25% of the Company’s paid-in capital.
C. (a) In accordance with the regulations, the Company shall set aside special reserve from the debit
balance on other equity items at the balance sheet date before distributing earnings. When
debit balance on other equity items is reversed subsequently, the reversed amount could be
included in the distributable earnings.
(b) The amounts previously set aside by the Company as special reserve on initial application of
IFRSs in accordance with Order No. Financial-Supervisory-Securities-Corporate-
1010012865, dated April 6, 2012, shall be reversed proportionately when the relevant assets
are used, disposed of or reclassified subsequently. Such amounts are reversed upon disposal
or reclassified if the assets are investment property of land, and reversed over the use period
if the assets are investment property other than land.

224
 D. The appropriations of 2022 and 2021 earnings had been approved by the shareholders during
their meeting on June 13, 2023 and June 14, 2022, respectively. Details are summarised below:
Years ended December 31,
2022 2021
Dividends Dividends
per share per share
Amount (in dollars) Amount (in dollars)
Legal reserve appropriated $ 3,288,320 $ 2,688,553
Special reserve (reversed)
appropriated ( 13,198,044) 3,623,514
Cash dividends (Note) 25,559,826 $ 9.84 14,286,488 $ 5.5
(Note) Information about the appropriations of earnings as resolved at the meeting of
shareholders will be posted in the “Market Observation Post System” at the website of
the Taiwan Stock Exchange.
E. The appropriations of 2023 earnings had been approved by the Board of Directors on February
29, 2024. Details are summarised below:
Year ended December 31, 2023
Dividends
per share
Amount (in dollars)
Legal reserve appropriated $ 3,364,651
Special reserve appropriated 1,027,060
Cash dividends (Note) 16,702,204 $ 6.43
(Note) The aforementioned appropriations of 2023 earnings have not yet been resolved by the
shareholders as of February 29, 2024.

(19) Non-controlling interest

Years ended December 31,

2023 2022
At January 1 $ 38,578,278 $ 31,338,136
Share attributable to non-controlling interest:
Profit for the year 5,487,702 4,325,010
Currency translation differences 312,322 3,744,763
Dividends paid to minority interest ( 1,895,556) ( 739,023)
Increase (decrease) in non-controlling interest (Note) 1,088,969 ( 90,608)
At December 31 43,571,715 38,578,278
Note: The increase (decrease) in non-controlling interest resulted from the disposal of equity interest
in DET during the year ended December 31, 2023, and the acquisition of additional equity
interest in Vivotek during the year ended December 31, 2022. Details are provided in Note
6(32).

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(20) Operating revenue
Years ended December 31,
2023 2022
Revenue from contracts with customers $ 401,226,501 $ 384,443,308
A. Disaggregation of revenue from contracts with customers
The Group derives revenue from the transfer of goods and services over time and at a point in
time in the following major business:
Year ended December 31, 2023
Power electronics Automation Infrastructure Others Total
Revenue from external
customer contracts $ 248,261,435 $ 54,295,479 $ 98,474,919 $ 194,668 $ 401,226,501
Timing of revenue
recognition
At a point in time 248,233,334 52,080,886 93,694,206 151,162 394,159,588
Over time 28,101 2,214,593 4,780,713 43,506 7,066,913
$ 248,261,435 $ 54,295,479 $ 98,474,919 $ 194,668 $ 401,226,501
Year ended December 31, 2022
Power electronics Automation Infrastructure Others Total

Revenue from external

customer contracts $ 227,324,556 $ 54,519,220 $ 102,135,297 $ 464,235 $ 384,443,308
Timing of revenue
recognition
At a point in time 227,258,892 52,463,111 98,458,589 132,118 378,312,710
Over time 65,664 2,056,109 3,676,708 332,117 6,130,598
$ 227,324,556 $ 54,519,220 $ 102,135,297 $ 464,235 $ 384,443,308

B. Contract assets and liabilities

The Group has recognised the revenue-related contract assets primarily from automation
equipment contracts and resolution of communication equipment power resource system;
contract liabilities primarily pertain to advance sales receipts, advance receipts for automation
equipment contract and resolution of communication equipment power resource system, etc.
Revenue recognised that was included in the contract liability balance at the beginning of the
year is as follows:
Years ended December 31,
2023 2022
Revenue recognised that was included in the
contract liability balance at the beginning
of the year
Advance sales receipts, advance receipts
for automation equipment contract and
resolution of communication equipment
power resource system, etc. $ 7,536,826 $ 5,438,939

226
(21) Interest income
Years ended December 31,
2023 2022
Interest income from bank deposits $ 2,063,811 $ 598,167
Other interest income 6,304 11,446
$ 2,070,115 $ 609,613
(22) Other income
Years ended December 31,
2023 2022
Government grant income $ 468,619 $ 420,198
Sample sales income 227,094 292,111
Mold fee income 221,507 244,560
Dividend income 213,856 291,617
Testing fee income 166,930 148,168
Rental income 149,979 111,703
Others 2,992,917 1,851,739
$ 4,440,902 $ 3,360,096
(23) Other gains and losses
Years ended December 31,
2023 2022
(Loss) gain on disposal of property, plant and ($ 196,768) $ 426,041
equipment
Gain on disposal of investments (Note) 207,397 -
Net currency exchange gain 1,275,185 583,789
Gain on financial assets/liabilities at fair
value through profit or loss 1,891,458 845,835
Impairment loss ( 318,915) ( 417,151)
Miscellaneous disbursements ( 514,662) ( 241,440)
$ 2,343,695 $ 1,197,074
(Note) Refer to Note 6(31).
(24) Finance costs
Years ended December 31,
2023 2022
Interest expense $ 1,170,718 $ 571,440

227
(25) Expenses by nature
Years ended December 31,
2023 2022
Employee benefit expense $ 83,478,149 $ 75,068,280
Depreciation charges on property, plant and
equipment 16,751,910 14,337,882
Depreciation charges on right-of-use assets 825,158 682,361
Amortisation charges on intangible assets 4,012,685 3,915,932
$ 105,067,902 $ 94,004,455
(26) Employee benefit expense
Years ended December 31,
2023 2022
Post-employment benefits
Defined contribution plans $ 1,355,983 $ 1,064,328
Defined benefit plans 187,291 202,292
1,543,274 1,266,620
Other employee benefits 81,934,875 73,801,660
$ 83,478,149 $ 75,068,280
A. According to the Articles of Incorporation of the Company, a ratio of profit of the current year
distributable, after covering accumulated losses, shall be distributed as employees’ compensation
and directors’ remuneration. The ratio shall not be lower than 3% for employees’ compensation
and shall not be higher than 1% for directors’ remuneration.
B. For the years ended December 31, 2023 and 2022, employees’ compensation were accrued at
$4,011,774 and $3,949,189, respectively; while directors’ remuneration were accrued at
$152,128 (including estimated amount of long-term incentive plan) and $71,562, respectively.
The aforementioned amounts were recognised in salary expenses. The final payout for the long-
term incentive plan will be determined based on the performance achieved in 2024.
For the year ended December 31, 2023, the employees’ compensation and directors’
remuneration were estimated and accrued based on profit of current year distributable as
prescribed by the Company’s Articles of Incorporation. The employees’ compensation of
$3,172,303 and directors’ remuneration of $61,660 for 2023 were actual amounts resolved by the
Board of Directors on February 29, 2024. The differences between the resolved amounts and the
amounts recognised in the 2023 financial statements were accounted for as changes in estimates
and recognised in profit or loss for 2024.
The employees’ compensation of $3,103,244 and directors’ remuneration of $47,520 for 2022
were actual amounts resolved by the Board of Directors on February 22, 2023. The differences
between the resolved amounts and the amounts recognised in the 2022 financial statements were
accounted for as changes in estimates and recognised in profit or loss for 2023.
Information about employees’ compensation and directors’ remuneration of the Company as
resolved by the Board of Directors will be posted in the “Market Observation Post System” at

228
 the website of the Taiwan Stock Exchange.
(27) Income tax
A. Income tax expense
(a) Components of income tax expense:
Years ended December 31,
2023 2022
Current tax:
Current tax on profits for the year $ 7,420,492 $ 8,505,739
Effect from Alternative Minimum Tax 8,254 2,102
Prior year income tax overestimation ( 727,795) ( 503,294)
Tax on undistributed surplus earnings 673,280 172,579
Total current tax 7,374,231 8,177,126
Deferred tax:
Origination and reversal of temporary
differences 2,387,513 897,434
$ 9,761,744 $ 9,074,560

(b) The income tax (charge)/credit relating to components of other comprehensive income is as
follows:
Years ended December 31,
2023 2022
Currency translation differences ($ 27,444) $ 1,069,086
Unrealised gains from financial assets
measured at fair value through other
comprehensive income 65,002 1,382
Remeasurement of defined benefit plan ( 2,840) 2,914
$ 34,718 $ 1,073,382
B. Reconciliation between income tax expense and accounting profit:
Years ended December 31,
2023 2022
Tax calculated based on profit before tax and
statutory tax rate $ 13,317,317 $ 12,076,470
Effects from items adjusted in accordance with
tax regulations ( 2,420,407) ( 1,677,426)
Effect from investment tax credits ( 1,065,126) ( 1,027,017)
Effect from taxable loss ( 23,779) 31,146
Prior year income tax overestimation ( 727,795) ( 503,294)
Effect from Alternative Minimum Tax 8,254 2,102
Tax on undistributed surplus earnings 673,280 172,579
Tax expenses $ 9,761,744 $ 9,074,560

229
C. Amounts of deferred tax assets or liabilities as a result of temporary differences and tax losses are as follows:
2023
Recognised Acquired
in other through
Recognised in comprehensive Recognised business
January 1 profit or loss income in equity combinations December 31
Deferred tax assets:
- Temporary differences:
Allowance for inventory
obsolescence $ 1,429,616 $ 389,050 $ - $ - $ - $ 1,818,666
Pension liability 422,639 ( 25,522) 2,840 - - 399,957
Assets impairment 13,456 ( 602) - - - 12,854
Depreciation difference between
tax and financial basis 1,333,635 87,858 - - - 1,421,493
Others 4,788,684 251,272 - - - 5,039,956
Tax losses 187,423 ( 46,879) - - - 140,544
8,175,453 655,177 2,840 - - 8,833,470
Deferred tax liabilities:
- Temporary differences:
Long-term equity investments ( 16,503,124) ( 2,627,686) 27,444 ( 1,319,965) - ( 20,423,331)
Land value increment tax ( 119,862) - - - - ( 119,862)
Others ( 2,719,809) ( 415,004) ( 65,002) 65,002 - ( 3,134,813)
( 19,342,795) ( 3,042,690) ( 37,558) ( 1,254,963) - ( 23,678,006)
($ 11,167,342) ($ 2,387,513) ($ 34,718) ($ 1,254,963) $ - ($ 14,844,536)

230
 2022
Recognised Acquired
in other through
Recognised in comprehensive Recognised business
January 1 profit or loss income in equity combinations December 31
Deferred tax assets:
- Temporary differences:
Allowance for inventory
obsolescence $ 832,358 $ 597,258 $ - $ - $ - $ 1,429,616
Pension liability 436,555 ( 11,002) ( 2,914) - - 422,639
Assets impairment 7,215 6,241 - - - 13,456
Depreciation difference between
tax and financial basis 1,237,802 95,833 - - - 1,333,635
Others 4,385,437 172,117 - - 231,130 4,788,684
Tax losses 278,080 ( 90,657) - - - 187,423
7,177,447 769,790 ( 2,914) - 231,130 8,175,453
Deferred tax liabilities:
- Temporary differences:
Long-term equity investments ( 13,925,194) ( 1,679,515) ( 1,069,086) 170,671 - ( 16,503,124)
Land value increment tax ( 119,862) - - - - ( 119,862)
Others ( 2,732,100) 12,291 ( 1,382) 1,382 - ( 2,719,809)
( 16,777,156) ( 1,667,224) ( 1,070,468) 172,053 - ( 19,342,795)
($ 9,599,709) ($ 897,434) ($ 1,073,382) $ 172,053 $ 231,130 ($ 11,167,342)

231
D. Expiration dates of unused net operating loss carryforward and amounts of unrecognised deferred
tax assets are as follows:
December 31, 2023
Unrecognised
Amount filed / deferred Usable until
Year incurred assessed Unused amount tax assets year
2007-2023 $ 2,789,078 $ 2,789,078 $ 2,689,356 2037
2019 $ 1,247,178 $ 1,247,178 $ 1,041,030 Indefinitely usable

December 31, 2022

Unrecognised
Amount filed / deferred Usable until
Year incurred assessed Unused amount tax assets year
2007-2022 $ 1,670,224 $ 1,670,224 $ 1,638,861 2037
2018-2022 $ 1,774,447 $ 1,774,447 $ 1,328,316 Indefinitely usable

E. The amounts of deductible temporary differences that were not recognised as deferred tax assets
are as follows:
December 31, 2023 December 31, 2022
Deductible temporary differences $ 2,910,472 $ 2,976,618

F. The Group has not recognised taxable temporary differences associated with investment in
subsidiaries as deferred tax liabilities. As at December 31, 2023 and 2022, the amounts of
temporary differences unrecognised as deferred tax liabilities were $12,270,213 and $11,525,298,
respectively.
G. The status of the Company and its domestic subsidiaries’ assessed and approved income tax
returns are as follows:
Latest year
assessed by
Tax Authority
The Company, Cyntec, Power Forest Technology Corporation, DECC, 2021
DelBio, Vivotek, Lidlight Inc., Realwin., Aetek Inc. and Atrust
Delmind Inc., Ancora and Delta Energy. Note
Note: Ancora and Delmind were established in 2022 and their respective income tax returns had
not been assessed. Delta Energy was established in 2023 and has not yet filed its income
tax return.
H. The Group has applied the exception to recognizing and disclosing information about deferred
tax assets and liabilities related to Pillar Two income taxes.
I. The Group’s exposure to Pillar Two income taxes arising from the Pillar Two legislation is as
follows:
(a) The Group is within the scope of the Pillar Two model rules published by the Organisation
for Economic Co-operation and Development (OECD). Since Pillar Two legislation was

232
 enacted in the Netherlands, the jurisdiction in which the entity controlled by the Group is
incorporated, and will come into effect from January 1, 2024, the Group has no related current
tax exposure as of December 31, 2023.While Pillar Two legislation was enacted in other
operational regions of the Group and has not yet come into effect, it has no significant impact
to the Group based on the Group’s assessment.
(b) Under the Pillar Two legislation, the Group is liable to pay a top-up tax for the difference
between its GloBE effective tax rate per jurisdiction and the 15% minimum rate.
(c) For 2023, the average effective tax rate calculated in accordance with IAS 12 of the entities
operating in Thailand is 3.11%. For the year ended December 31, 2023, total accounting profit
for the entities in Thailand is THB 18,363,040 thousand. Additionally, the weighted average
ownership ratio of the entities subject to the enacted legislation to the entities in Thailand is
14.68%.
(d) Due to the complexities in applying the legislation and calculating GloBE income, the
average effective tax rate of the entities operating in Thailand based on accounting profit is
3.11% for the year ended December 31, 2023. However, due to the impact of specific
adjustments envisaged in the Pillar Two legislation which give rise to different effective tax
rates compared to those calculated in accordance with IAS 12, the quantitative impact of the
enacted or substantively enacted legislation is not yet reasonably estimable. The Group is
currently engaged with tax specialists to assist it with applying the legislation.
(28) Earnings per share

Year ended December 31, 2023

Weighted average
number of
ordinary shares Earnings
Amount outstanding per share
after tax (shares in thousands) (in dollars)
Basic earnings per share
Profit attributable to ordinary
shareholders of the parent $ 33,392,665 2,597,543 $ 12.86
Diluted earnings per share
Profit attributable to ordinary
shareholders of the parent $ 33,392,665 2,597,543
Assumed conversion of all dilutive
potential ordinary shares:
Employees’ compensation - 11,634
Profit attributable to ordinary
shareholders of the parent plus
assumed conversion of all dilutive
potential ordinary shares $ 33,392,665 2,609,177 $ 12.80

233
 Year ended December 31, 2022
Weighted average
number of
ordinary shares Earnings
Amount outstanding per share
after tax (shares in thousands) (in dollars)
Basic earnings per share
Profit attributable to ordinary
shareholders of the parent $ 32,665,728 2,597,543 $ 12.58
Diluted earnings per share
Profit attributable to ordinary
shareholders of the parent $ 32,665,728 2,597,543
Assumed conversion of all dilutive
potential ordinary shares:
Employees’ compensation - 12,313
Profit attributable to ordinary
shareholders of the parent plus
assumed conversion of all dilutive
potential ordinary shares $ 32,665,728 2,609,856 $ 12.52

(29) Share-based payment

A. For the years ended December 31, 2023 and 2022, the Group’s share-based payment
arrangements were as follows:
Quantity
granted
(shares in Contract
Type of arrangement Grant date thousands) period Vesting conditions
Power Forest - Employee 2022.01.10~ 3,285 7 years Vested immediately
stock options 2023.10.01
Power Forest - Cash 2023.04.07 2,993 - Vested immediately
capital increase reserved
Ancora Semiconductors - 2022.11.11~ 4,561 10 years Note
Employee stock options 2023.10.24
Note: The option life is 10 years; accumulated ratios of initially granted stock options that are
exercisable upon 18 months, 30 months and 3 years of continuous services from the grant
date are 30%, 60% and 100%, respectively.

234
B. Details of the share-based payment arrangements are as follows:
2023 2022
No. of No. of
options Weighted-average options Weighted-average
(shares in exercise price (shares in exercise price
thousands) (in dollars) thousands) (in dollars)
Options outstanding
opening balance at
January 1 5,761 $ 10~$22.50 - $ -
Options granted 1,391 10 ~ 22.50 6,455 -
Options exercised ( 107) 22.50 ( 41) -
Options forfeited ( 557) 10 ~ 22.50 ( 653) -
Options outstanding
at December 31 6,488 $ 10~$22.50 5,761 $ 10~$22.50
Options exercisable at
December 31 2,335 $ 22.50 2,261 $ 22.50
C. During the year ended December 31, 2023, Power Forest increased its capital in cash and retained
the portion subscribed by employees in accordance with the law. The options of 2,993 thousand
shares have been fully exercised.
D. The weighted-average stock price of stock options at exercise dates for the year ended December
31, 2023 was $42.43.
E. The expiry date and exercise price of stock options outstanding at balance sheet date are as
follows:
December 31, 2023

Exercise
Type of Approved release Due No. of shares price
arrangement date date (shares in thousands) (in dollars)
Power Forest- 2022.01.10~ 2025.01.09~ 2,335 $ 22.5
Employee stock 2023.10.01 2026.09.30
options
Ancora 2022.11.11~ 2032.11.10~ 4,153 10
Semiconductors 2023.10.24 2033.10.23
- Employee
stock options

235
 December 31, 2022
Exercise
Type of Approved release Due No. of shares price
arrangement date date (shares in thousands) (in dollars)
Power Forest- 2022.01.10~ 2025.01.09~ 2,261 $ 22.5
Employee stock 2022.10.25 2025.10.24
options
Ancora 2022.11.11 2032.11.10 3,500 10
Semiconductors
- Employee
stock options

F. The fair value of stock options granted is measured using the Black-Scholes option-pricing
model. Relevant information is as follows:
Stock Exercise Expected Expected Risk-free Fair value
Type of Grant price price price option Expected interest per unit
arrangement date (in dollars) (in dollars) volatility life (years) dividends rate (in dollars)
Power Forest- 2022.01.10~ $44.17 $22.50 55.89% 1.5 0% 0.42% $23.5559
Employee stock 2022.10.25
options
Power Forest- 2023.01.01~ 27.46 22.50 51.88% 1.5 0% 1.10% 9.1849
Employee stock 2023.10.01
options
Power Forest- 2023.04.07 22.59 22.50 35.64% 0.03 0% 1.09% 0.606
Cash capital
increase reserved
for employee
preemption

Ancora 2022.11.11 30.00 10.00 64.69% 6.2 0% 1.49% 23.84

Semiconductors
- Employee stock
options
Ancora 2023.02.21~ 24.19~ 10.00 62.31%~ 6.2 0% 1.10%~ 18.16~
Semiconductors 2023.10.24 30.00 64.67% 1.25% 27.78
- Employee stock
options

Note: Expected price volatility rate was estimated by using the stock prices of the most recent
period with length of this period approximate to the length of the stock options’ expected
life, and the standard deviation of return on the stock during this year.
G. Expenses incurred on share-based payment transactions are shown below:
Years ended December 31,
2023 2022
Equity-settled $ 45,869 $ 74,885

236
(30) Business combinations
A. Business combinations of the Group for the years ended December 31, 2023 and 2022 are as
follows:
(a) On October 2, 2023, the Group acquired 100% of the share capital of HY&T Investment
Holding B.V. (HY&T) for $5,197,091 and obtained control over HY&T. As a result of the
acquisition, the Group is expected to improve the layout of electric vehicle battery
management systems. The allocation of the acquisition price of HY&T Investment Holding
B.V. will complete in a year.
(b) On February 1, 2023, the Group acquired 55.02% of the share capital of Atrust Computer for
$950,259 and obtained control over Atrust. As a result of the acquisition, the Group is
expected to strengthen networking solution capability. The allocation of the acquisition price
of Atrust Computer was completed in the second quarter of 2023.
(c) On July 18, 2022, the Group acquired 100% of the share capital of UI Acquisition Holding
Co. (UI) for $2,766,456 and obtained control over UI. In the fourth quarter of 2022, the
acquisition price increased by $30,890 in accordance with the price adjustment mechanism
in the contract. As a result of the acquisition, the Group is expected to strengthen industrial
automation. The allocation of the acquisition price of UI was completed in the first quarter
of 2023, and the price decreased by $33,473 as the equity was adjusted based on the audited
financial statements.
(d) On December 1, 2021, the Group acquired 100% of the share capital of March Networks
Holdings Ltd. (March) for $3,472,680 and obtained control over March. As a result of the
acquisition, the Group is expected to improve the security and building automation. The
allocation of acquisition price of March was completed in the second quarter of 2022, and
the contingent consideration decreased by $10,556 based on the adjustment to the estimated
purchase price.
B. The following table summarises the consideration paid for the abovementioned acquired
subsidiaries and the fair values of the assets acquired, liabilities assumed and the non-controlling
interest at the acquisition date:
Atrust Computer
HY&T (Note) UI (Note) March (Note)
Purchase consideration
Cash $ 5,197,091 $ 950,259 $ 2,797,346 $ 3,376,535
Contingent consideration - - - 85,589
5,197,091 950,259 2,797,346 3,462,124
Fair value of the non-
controlling interest - 591,199 - -
5,197,091 1,541,458 2,797,346 3,462,124

237
 Atrust Computer
HY&T (Note) UI (Note) March (Note)
The identifiable
assets acquired and liabilities
assumed
Cash and bank deposits 96,534 421,004 171,888 510,591
Other current assets 1,525,997 392,688 2,960,518 1,218,552
Property, plant and equipment 682,104 5,169 143,360 44,809
Intangible assets 2,120,370 527,207 523,953 821,850
Deferred tax assets 25,523 210 265,321 403,881
Other non-current assets 1,382,682 35,865 54,254 242,838
Other current liabilities ( 2,064,913) ( 411,714) ( 1,553,995) ( 475,624)
Other non-current liabilities ( 722,065) ( 35,000) ( 68,845) ( 236,879)
Total identifiable net assets 3,046,232 935,429 2,496,454 2,530,018
Goodwill $ 2,150,859 $ 606,029 $ 300,892 $ 932,106

Note: Represents the amount after the allocation of acquisition price.

C. The allocation of the acquisition price of UI was completed in the first quarter of 2023 and the
fair values of the acquired identifiable intangible assets and goodwill were $523,953 and
$300,892, respectively.
D. The allocation of the acquisition price of Atrust Computer was completed in the second quarter
of 2023 and the fair values of the acquired identifiable intangible assets and goodwill were
$527,207 and $606,029, respectively.
E. The operating revenue included in the consolidated statement of comprehensive income since
February 1, 2023 contributed by Atrust Computer was $796,087. Atrust Computer also
contributed loss before income tax of ($1,857) over the same period. Had Atrust Computer been
consolidated from January 1, 2023, the consolidated statement of comprehensive income for the
year ended December 31, 2023 would show operating revenue of $401,267,192 and profit before
income tax of $48,633,324.
F. The operating revenue included in the consolidated statement of comprehensive income since
October 2, 2023 contributed by HY&T was $661,408. HY&T also contributed loss before
income tax of ($147,120) over the same period. Had HY&T been consolidated from January 1,
2023, the consolidated statement of comprehensive income for the year ended December 31,
2023 would show operating revenue of $403,005,909 and profit before income tax of
$47,433,412.
(31) Supplemental cash flow information
The Group’s subsidiary, Vivotek Inc., sold 100% of shares in the subsidiary – Otus Imaging, Inc. on
March 31, 2023 and therefore lost control over the subsidiary. The details of the consideration
received from the transaction and assets and liabilities relating to the subsidiary are as follows:

238
 Otus Imaging, Inc.
Purchase consideration
Cash $ 115,535
Carrying amount of the assets and liabilities of Otus Imaging, Inc.
Cash 26,529
Accounts receivable 565
Current income tax assets 2
Inventories 17,529
Prepayments 7
Other current assets 28
Property, plant and equipment 547
Other non-current assets 181
Contract liabilities - current ( 8)
Accounts payable ( 340)
Accounts payable - related parties ( 6)
Other payables ( 2,054)
Other current liabilities ( 177)
Total net assets $ 42,803
(32) Transactions with non-controlling interest
A. Acquisition of additional equity interest in a subsidiary
For the year ended December 31, 2023, the Group acquired additional equity interest of 5% in
Eltek Egypt for Power Supply S.A.E. (Eltek Egypt) from non-controlling interest for a total cash
consideration of $1,619. For the year ended December 31, 2022, the Group acquired additional
equity interest of 1.66% in Vivotek and 0.03% in AMT for a total cash consideration of $111,232.
The effect of changes in interest attributable to owners of the parent for the years ended December
31, 2023 and 2022 is shown below:
Years ended December 31,
2023 2022
Eltek Egypt Vivotek AMT Total
Carrying amount of non-controlling
interest acquired $ 2,170 $ 125,504 $ 407 $ 125,911
Consideration paid to non-controlling
( 1,619) ( 110,182) ( 1,050) ( 111,232)
interest
$ 551 $ 15,322 ($ 643) $ 14,679
Difference between proceeds on actual
acquisition of equity interest in a
subsidiary and its carrying
amount:
Capital surplus $ 551 $ 15,322 $ - $ 15,322
Unappropriated retained earnings $ - $ - ($ 643) ($ 643)

239
 B. Disposal of partial equity in subsidiaries without loss of control
For the year ended December 31, 2023, the Group disposed 0.72% equity interest in the
subsidiary, Delta Electronics (Thailand) Public Company Limited (DET), for a consideration of
$7,380,571, resulting in a decrease in the Group’s ownership percentage to 63.07%. For the years
ended December 31, 2022, the Group had no disposal transactions. The effect of changes in
interests attributable to owners of the parent for the years ended December 31, 2023 and 2022 is
shown below:
Years ended December 31,
2023 2022
Consideration received from non-controlling
interest $ 7,380,571 $ -
Carrying amount of disposing equity interest
in a subsidiary ( 739,083) -
Adjustment of other equity ( 1,358,399) -
$ 5,283,089 $ -
Difference between proceeds on actual
acquisition or disposal of equity interest
in a subsidiary and its carrying amount:
Capital surplus $ 5,283,089 $ -

(33) Changes in liabilities from financing activities

Long-term
borrowings Liabilities from
Short-term (including current financing
borrowings Bonds payable portion) activities-gross
At January 1, 2023 $ 2,076,762 $ 11,600,000 $ 32,779,766 $ 46,456,528
Changes in cash flow
from financing activities 874,114 17,500,000 ( 8,047,526) 10,326,588
Effect of business combinations 384,012 - 127,860 511,872
At December 31, 2023 $ 3,334,888 $ 29,100,000 $ 24,860,100 $ 57,294,988

Long-term
borrowings Liabilities from
Short-term (including current financing
borrowings Bonds payable portion) activities-gross
At January 1, 2022 $ 4,397,362 $ - $ 43,958,912 $ 48,356,274
Changes in cash flow
from financing activities ( 2,320,600) 11,600,000 ( 11,179,146) ( 1,899,746)
At December 31, 2022 $ 2,076,762 $ 11,600,000 $ 32,779,766 $ 46,456,528

240
7. RELATED PARTY TRANSACTIONS
(1) Names and relationship of related parties
Names of related parties Relationship with the Group
Compower AS Associate
Fujian Kaixin Construciton Engineering Co., Ltd. "
Delta Networks (Xiamen) Ltd. "
Digital Projection Asia Pte Ltd. "
(2) Significant transactions and balances with related parties
A. Operating revenue
Years ended December 31,
2023 2022
Sales of goods:
Associates $ 63,488 $ 94,287
Sales of services:
Associates 4 28
$ 63,492 $ 94,315
The Group sells commodities to related parties based on mutually agreed selling prices and terms
as there is no similar transaction to be compared with. Sales of services to related parties arise
mainly from sales and services of construction system.
B. Purchases of goods
Years ended December 31,
2023 2022
Purchases of goods:
Associates $ 161,554 $ 188,860

The purchase terms, including prices and payments, are based on mutual agreement and have no
similar transaction to be compared with.
C. Period-end balances arising from sales of goods and services
December 31, 2023 December 31, 2022
Receivables from related parties:
Associates $ 5,801 $ 29,551

The receivables from related parties arise mainly from sales transactions. The receivables are due
75 days after the date of sale. The receivables are unsecured in nature and bear no interest.
D. Period-end balances arising from purchases of goods
December 31, 2023 December 31, 2022
Payables to related parties:
Associates $ 38,185 $ 28,525

241
 The payables to related parties arise mainly from purchase transactions and are due 70 days after
the date of purchase. The payables bear no interest.
E. Period-end balances arising from other transactions
December 31, 2023 December 31, 2022
Other receivables-related parties
Associates $ 3,122 $ 2,000

December 31, 2023 December 31, 2022

Other payables-related parties
Associates $ - $ 867
Other receivables due from related parties mainly arose from receivables resulting from
transactions other than sales. Other payables to related parties mainly arose from payables
resulting from transactions other than purchases.
(3) Key management compensation
Years ended December 31,
2023 2022
Short-term employee benefits $ 381,634 $ 333,932
Post-employment benefits 753 737
$ 382,387 $ 334,669
8. PLEDGED ASSETS
The Group’s assets pledged as collateral are as follows:
Book Value
December 31, December 31,
Pledged assets 2023 2022 Pledge purpose
Demand deposits and time Performance bonds, custom
deposits (shown as current guarantee, court attachments and
financial assets at amortised other guarantee deposits
cost) $ 259,567 $ 265,382
Accounts receivable 122,923 - Accounts receivable financing
Demand deposits and time Performance bonds and custom
deposits (shown as other guarantee
non-current assets) 29,274 143,498
Property, plant and equipment Long-term borrowings and credit
282,023 477,276 line of long-term borrowings
$ 693,787 $ 886,156

242
9. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNISED CONTRACT COMMITMENTS
(1) Contingencies
None.
(2) Commitments
Capital expenditures contracted for at the balance sheet date but not yet incurred are as follows:
December 31, 2023 December 31, 2022
Property, plant and equipment $ 9,931,738 $ 9,507,364
Costs of computer software $ 187,471 $ 558,781
10. SIGNIFICANT CASUALTY LOSS
None.
11. SIGNIFICANT EVENTS AFTER THE BALANCE SHEET DATE
(1) Information about the appropriations of 2023 earnings of the Company is provided in Note 6(18) E.
(2) On January 17, 2024, the Board of Directors of the Company approved the acquisition of technology
transfer of hydrogen stack, development licensing, engineering services and production capacity
expansion costs in response to the demand for sample stack from Ceres Power Limited with the
total amount of approximately GBP 43 million.
(3) On January 17, 2024, the Board of Directors of the Company approved the acquisition of real estate
and then entered into an agreement with Nan Shan Life Insurance Company, Ltd. for an amount of
approximately $4,789 million on January 25, 2024.
(4) On January 11, 2024, the Board of Directors of Delta Electronics India Pvt. Ltd. approved the
construction of dormitory in Hosur Plant, Tamil Nadu, India with estimated total cost of INR 8
billion.
12. OTHERS
(1) Capital risk management
The Group’s objectives when managing capital are to maintain an integrity credit rating and good
capital structure to support operations and maximize stockholders’ equity.
(2) Financial instruments
A. Financial instruments by category:
Refer to the consolidated balance sheets and Note 6 for related amounts and information of the
Group’s financial assets (financial assets at fair value through profit or loss, financial assets at
fair value through other comprehensive income, financial assets at amortised cost, cash and cash
equivalents, notes receivable, accounts receivable (including related parties), other receivables
(including related parties) and guarantee deposits paid) and financial liabilities (financial
liabilities at fair value through profit or loss, short-term borrowings, notes payable, accounts
payable (including related parties), other payables, bonds payable, guarantee deposits received,
lease liabilities and long-term borrowings).

243
B. Financial risk management policies
The Group’s activities expose it to a variety of financial risks: market risk (including foreign
exchange risk, interest rate risk and price risk), credit risk and liquidity risk. The Group’s overall
risk management programme focuses on the unpredictability of financial markets and seeks to
minimise potential adverse effects on the Group’s financial position and financial performance.
The Group uses derivative financial instruments to hedge certain risk exposures (see Note 6(2)).

C. Significant financial risks and degrees of financial risks

(a) Market risk
Foreign exchange risk
i. The Group operates internationally and is exposed to foreign exchange risk arising from
various currency exposures, primarily with respect to the USD, RMB, EUR and THB.
Foreign exchange risk arises from future commercial transactions, recognised assets and
liabilities and net investments in foreign operations.
ii. Management has set up a policy to require group companies to manage their foreign
exchange risk against their functional currency. To manage their foreign exchange risk
arising from future commercial transactions and recognised assets and liabilities, entities
in the Group use forward foreign exchange contracts, foreign exchange swap contracts,
transacted with Group treasury.
iii. The Group adopts the derivative financial instruments like forward exchange contracts /
forward exchange transactions, etc. to hedge the fair value risk and cash flow risk due to
foreign exchange rate fluctuations. The Group monitors at any time and pre-sets a “stop
loss” amount to limit its foreign exchange risk.
iv. The Group’s businesses involve some non-functional currency operations (the Company’s
and certain subsidiaries’ functional currency: NTD; other certain subsidiaries’ functional
currency: USD, RMB and THB). The information on assets and liabilities denominated in
foreign currencies whose values would be materially affected by the exchange rate
fluctuations is as follows:

244
 December 31, 2023
Foreign currency
amount Exchange Book value
(in thousands) rate (NTD)
(Foreign currency:
functional currency)
Financial assets
Monetary items
USD:THB (Note) $ 982,669 34.0523 $ 30,172,857
USD:NTD 561,117 30.7050 17,229,086
USD:RMB (Note) 271,592 7.0973 8,339,235
RMB:USD (Note) 1,525,780 0.1409 6,600,968
EUR:USD (Note) 107,709 1.1067 3,659,938
SGD:USD (Note) 44,352 0.7585 1,032,969
Non-monetary items
USD:NTD $ 7,238,902 30.7050 $ 222,270,491
THB:USD (Note) 68,431,357 0.0294 61,704,555
RMB:USD (Note) 10,185,763 0.1409 44,066,564
USD:THB (Note) 604,737 34.0523 18,568,459
NOK:USD (Note) 3,743,141 0.0983 11,293,319
EUR:USD (Note) 192,963 1.1067 6,556,867
THB:NTD 6,259,990 0.9017 5,644,633
CAD:USD (Note) 56,709 0.7556 1,315,642
JPY:USD (Note) 5,253,964 0.0071 1,141,161
Financial liabilities
Monetary items
USD:THB (Note) $ 614,738 34.0523 $ 18,875,538
USD:NTD 547,625 30.7050 16,814,841
RMB:USD (Note) 1,744,670 0.1409 7,547,950
USD:RMB (Note) 174,480 7.0973 5,357,421
EUR:USD (Note) 69,441 1.1067 2,359,590
USD:KRW (Note) 61,011 1,284.1907 1,873,334
SGD:USD (Note) 73,958 0.7585 1,722,484
Note: Certain consolidated entities’ functional currency is not NTD. Therefore, the Group
shall consider these items when disclosing the above information.

245
 December 31, 2022
Foreign currency
amount Exchange Book value
(in thousands) rate (NTD)
(Foreign currency:
functional currency)
Financial assets
Monetary items
USD:NTD $ 672,093 30.7100 $ 20,639,966
USD:THB (Note) 453,354 34.3474 13,922,487
USD:RMB (Note) 355,454 6.9566 10,915,995
RMB:USD (Note) 1,398,952 0.1437 6,175,688
EUR:USD (Note) 100,072 1.0655 3,274,367
Non-monetary items
USD:NTD $ 6,510,039 30.7100 $ 199,923,287
THB:USD (Note) 62,766,372 0.0291 56,119,413
RMB:USD (Note) 9,430,018 0.1437 41,628,907
USD:THB (Note) 477,835 34.3474 14,674,323
NOK:USD (Note) 3,799,429 0.1013 11,819,719
THB:NTD 5,702,778 0.8941 5,098,854
EUR:USD (Note) 50,706 1.0655 1,659,113
CAD:USD (Note) 53,790 0.7382 1,219,426
Financial liabilities
Monetary items
USD:NTD $ 637,367 30.7100 $ 19,573,533
USD:THB (Note) 427,396 34.3474 13,125,318
RMB:USD (Note) 2,060,113 0.1437 9,094,391
USD:RMB (Note) 276,013 6.9566 8,476,363
EUR:USD (Note) 66,637 1.0655 2,180,358
SGD:USD (Note) 92,025 0.7450 2,105,524
Note: Certain consolidated entities’ functional currency is not NTD. Therefore, the Group
shall consider these items when disclosing the above information.
v. Total exchange gain, including realised and unrealised, arising from significant foreign
exchange variation on the monetary items held by the Group for the years ended December
31, 2023 and 2022 amounted to $1,275,185 and $583,789, respectively.
vi. Analysis of foreign currency market risk arising from significant foreign exchange
variation:

246
 Year ended December 31, 2023
Sensitivity analysis
Effect on other
(Foreign currency: Degree of Effect on comprehensive
functional currency) variation profit or loss income
Financial assets
Monetary items
USD:THB (Note) 1% $ 301,729 $ -
USD:NTD 1% 172,291 -
USD:RMB (Note) 1% 83,392 -
RMB:USD (Note) 1% 66,010 -
EUR:USD (Note) 1% 36,599 -
SGD:USD (Note) 1% 10,330 -
Financial liabilities
Monetary items
USD:THB (Note) 1% $ 188,755 $ -
USD:NTD 1% 168,148 -
RMB:USD (Note) 1% 75,480 -
USD:RMB (Note) 1% 53,574 -
EUR:USD (Note) 1% 23,596 -
USD:KRW (Note) 1% 18,733
SGD:USD (Note) 1% 17,225 -
Year ended December 31, 2022
Sensitivity analysis
Effect on other
(Foreign currency: Degree of Effect on comprehensive
functional currency) variation profit or loss income
Financial assets
Monetary items
USD:NTD 1% $ 206,400 $ -
USD:THB (Note) 1% 139,225 -
USD:RMB (Note) 1% 109,160 -
RMB:USD (Note) 1% 61,757 -
EUR:USD (Note) 1% 32,744 -
Financial liabilities
Monetary items
USD:NTD 1% $ 195,735 $ -
USD:THB (Note) 1% 131,253 -
RMB:USD (Note) 1% 90,944 -
USD:RMB (Note) 1% 84,764 -
EUR:USD (Note) 1% 21,804 -
SGD:USD (Note) 1% 21,055 -

Note: Certain consolidated entities’ functional currency is not NTD. Therefore, the Group
shall consider these items when disclosing the above information.

247
 Price risk
i. The Group’s equity securities, which are exposed to price risk, are the held financial assets
at fair value through profit or loss and financial assets at fair value through other
comprehensive income. To manage its price risk arising from investments in equity
securities, the Group diversifies its portfolio.
ii The Group’s investments in equity securities comprise shares issued by the domestic and
foreign companies. The prices of equity securities would change due to the change of the
future value of investee companies. If the prices of these equity securities had
increased/decreased by 1% with all other variables held constant, post-tax profit for the
years ended December 31, 2023 and 2022 would have increased/decreased by $45,564
and $17,011, respectively, as a result of gain/loss on equity securities classified as at fair
value through profit or loss. Other components of equity would have increased/decreased
by $13,837 and $14,772, respectively, as a result of other comprehensive income classified
equity investment at fair value through other comprehensive income.
Cash flow and fair value interest rate risk
i. The Group’s main interest rate risk arises from long-term borrowings and bonds payable.
Borrowings issued at variable rates expose the Group to cash flow interest rate risk which
is partially offset by cash and cash equivalents held at variable rates. Borrowings and
bonds payable issued at fixed rates expose the Group to fair value interest rate risk. The
Group’s borrowings mainly bear variable interest rate; while bonds payable bear fixed
interest rate. During the years ended December 31, 2023 and 2022, the Group’s
borrowings at variable rate were denominated in NTD, USD and JPY, and the Group’s
bonds payable at fixed rates were denominated in NTD.
ii. As at December 31, 2023 and 2022, if the interest rate increases by 0.25%, with all other
variables held constant, profit, net of tax for the years ended December 31, 2023 and 2022
would have decreased by $49,698 and $65,537, respectively. The main factor is that
changes in interest expense result from floating rate borrowings.
(b) Credit risk
i. Credit risk refers to the risk of financial loss to the Group arising from default by the
clients or counterparties of financial instruments on the contract obligations. The main
factor is that counterparties could not repay in full the accounts receivable based on the
agreed terms, and the contract cash flows of financial instruments which were settled in
accordance with trading conditions.
ii. According to the Group’s credit policy, each local entity in the Group is responsible for
managing and analysing the credit risk for each of their new clients before standard
payment and delivery terms and conditions are offered. Internal risk control assesses the
credit quality of the customers, taking into account their financial position, past experience
and other factors.
iii. Individual risk limits are set based on internal or external ratings in accordance with limits

248
 set by the credit controller. The utilisation of credit limits is regularly monitored.
iv. For banks and financial institutions, only well rated parties are accepted.
v. The Group adopts the assumption under IFRS 9, that is, if the contract payments are past
due over 180 days based on the terms, there has been a significant increase in credit risk
on that instrument since initial recognition.
vi. The Group adopts the assumption under IFRS 9, that is, the default occurs when the
contract payments are not expected to be recovered and are transferred to overdue
receivables.
vii. The Group classifies customer’s accounts receivable and contract assets in accordance
with customer types. The Group applies the simplified approach using the provision
matrix based on the loss rate methodology to estimate expected credit loss.
viii. The Group uses the forecastability to adjust historical and timely information to assess
the default possibility of accounts receivable and contract assets. There were no contract
assets past due as at December 31, 2023 and 2022. On December 31, 2023 and 2022, the
provision matrix of accounts receivable is as follows:
Not past due 1-90 days past due 91-180 days past due
At December 31, 2023
Expected loss rate 0.00% 1.66% 24.09%
Total book value $ 65,274,347 $ 11,479,401 $ 454,029
Loss allowance $ 935 $ 190,800 $ 109,389

181-365 days Over 366 days

past due past due Total
Expected loss rate 38.57% 90.31%
Total book value $ 324,169 $ 228,578 $ 77,760,524
Loss allowance $ 125,037 $ 206,440 $ 632,601

Not past due 1-90 days past due 91-180 days past due
At December 31, 2022
Expected loss rate 0.00% 1.09% 13.83%
Total book value $ 73,676,921 $ 9,781,373 $ 687,649
Loss allowance $ 478 $ 106,371 $ 95,104

181-365 days Over 366 days

past due past due Total
Expected loss rate 40.35% 98.79%
Total book value $ 213,655 $ 218,039 $ 84,577,637
Loss allowance $ 86,204 $ 215,411 $ 503,568

249
 ix. Movements in relation to the Group applying the simplified approach to provide loss
allowance for notes receivable, accounts receivable, contract assets and overdue
receivables are as follows:
2023
Notes Accounts Contract Overdue
receivable receivable assets receivables Total
At January 1 $ - $ 503,568 $ - $ 293,877 $ 797,445
Provision for impairment loss - 135,346 - - 135,346
Reclassification - ( 1,035) - 1,035 -
Reversal of impairment loss - - - ( 7,998) ( 7,998)
Write-offs during the year - ( 7,751) - ( 21,124) ( 28,875)
Effect of foreign exchange - 2,473 - ( 799) 1,674
At December 31 $ - $ 632,601 $ - $ 264,991 $ 897,592

2022
Notes Accounts Contract Overdue
receivable receivable assets receivables Total
At January 1 $ - $ 350,544 $ - $ 313,298 $ 663,842
Provision for impairment loss - 133,242 - 282 133,524
Reclassification - ( 4,111) - 4,111 -
Write-offs during the year - ( 2,347) - ( 35,953) ( 38,300)
Effect of foreign exchange - 26,240 - 12,139 38,379
At December 31 $ - $ 503,568 $ - $ 293,877 $ 797,445

For provisioned loss for the years ended December 31, 2023 and 2022, the provision for
impairment loss arising from customers’ contracts amounted to $127,348 and $133,524,
respectively.
(c) Liquidity risk
i. Cash flow forecasting is performed in the operating entities of the Group and aggregated
by Group treasury. Group treasury monitors rolling forecasts of the Group’s liquidity
requirements to ensure it has sufficient cash to meet operational needs.
ii. The table below analyses the Group’s non-derivative financial liabilities and net-settled or
gross-settled derivative financial liabilities into relevant maturity groupings based on the
remaining period at the balance sheet date to the contractual maturity date for non-
derivative financial liabilities and to the expected maturity date for derivative financial
liabilities:

250
 Non-derivative financial liabilities:
Less than Between 1 Between 2 Over
December 31, 2023 1 year and 2 years and 5 years 5 years
Short-term borrowings $ 3,341,203 $ - $ - $ -
Notes and accounts payable
(including related parties) 53,538,944 - - -
Other payables 44,336,025 - - -
Lease liabilities
(including current portion) 854,819 648,127 1,018,478 1,055,942
Bonds payable 406,300 5,389,019 23,661,759 701,692
Long-term borrowings
(including current portion) 2,707,916 20,516,564 1,657,738 188,707
Non-derivative financial liabilities:
Less than Between 1 Between 2 Over
December 31, 2022 1 year and 2 years and 5 years 5 years
Short-term borrowings $ 2,122,489 $ - $ - $ -
Notes and accounts payable
(including related parties) 62,715,670 - - -
Other payables 40,718,682 - - -
Lease liabilities
(including current portion) 648,343 509,150 901,995 1,028,183
Bonds payable 128,950 128,950 11,087,747 707,992
Long-term borrowings
(including current portion) 198,295 30,489,081 2,029,164 300,581
Derivative financial liabilities:
As at December 31, 2023 and 2022, the Group’s derivative financial liabilities are due
within 1 year.
iii. The Group does not expect the timing of occurrence of the cash flows estimated through
the maturity date analysis to be significantly earlier, nor expect the actual cash flow
amount to be significantly different.
(3) Fair value information
A. The different levels that the inputs to valuation techniques are used to measure fair value of
financial and non-financial instruments have been defined as follows:
Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the
entity can access at the measurement date. A market is regarded as active where a market
in which transactions for the asset or liability take place with sufficient frequency and
volume to provide pricing information on an ongoing basis.
Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset
or liability, either directly or indirectly.
Level 3: Unobservable inputs for the asset or liability.

251
B. The carrying amounts of financial instruments not measured at fair value including cash and cash
equivalents, notes receivable, accounts receivable, other receivables, short-term borrowings,
notes payable, accounts payable, other payables, bonds payable and long-term borrowings
(including current portion) are approximate to their fair values.
C. The related information on financial and non-financial instruments measured at fair value by
level on the basis of the nature, characteristics and risks of the assets and liabilities is as follows:
December 31, 2023 Level 1 Level 2 Level 3 Total
Assets
Recurring fair value measurements
Financial assets at fair value through
profit or loss
Equity instruments $4,556,372 $ - $ 810,090 $5,366,462
Hybrid instruments 98,591 - 229,870 328,461
Derivative instruments - 576,526 - 576,526
Financial assets at fair value through
other comprehensive income
Equity instruments 1,266,616 - 728,414 1,995,030
$5,921,579 $ 576,526 $1,768,374 $8,266,479
Liabilities
Recurring fair value measurements
Financial liabilities at fair
value through profit or loss
Derivative instruments $ - $ 54,410 $ - $ 54,410

December 31, 2022 Level 1 Level 2 Level 3 Total

Assets
Recurring fair value measurements
Financial assets at fair value through
profit or loss
Equity instruments $1,701,096 $ - $1,073,118 $2,774,214
Hybrid instruments 46,929 900,000 204,249 1,151,178
Derivative instruments - 605,847 - 605,847
Financial assets at fair value through
other comprehensive income
Equity instruments 1,268,503 - 472,050 1,740,553
$3,016,528 $1,505,847 $1,749,417 $6,271,792
Liabilities
Recurring fair value measurements
Financial liabilities at fair
value through profit or loss
Derivative instruments $ - $ 74,232 $ - $ 74,232

252
D. The methods and assumptions that the Group used to measure fair value are as follows:
(a) The instruments that the Group used market quoted prices as their fair values (that is, Level
1) are listed below by characteristics:
Listed shares Convertible (exchangeable) bond
Market quoted price Closing price Closing price
(b) Except for financial instruments with active markets, the fair value of other financial
instruments is measured by using valuation techniques that are approved for financial
management.
(c) When assessing non-standard and low-complexity financial instruments, the Group adopts
valuation technique that is widely used by market participants. The inputs used in the
valuation method to measure these financial instruments are normally observable in the
market.
(d) The valuation of derivative financial instruments is based on valuation model widely
accepted by market participants, such as present value techniques and option pricing models.
Forward exchange contracts are usually valued based on the current forward exchange rate.
(e) The output of valuation model is an estimated value and the valuation technique may not be
able to capture all relevant factors of the Group’s financial and non-financial instruments.
Therefore, the estimated value derived using the valuation model is adjusted accordingly with
additional inputs. In accordance with the Group’s management policies and relevant control
procedures relating to the valuation models used for fair value measurement, management
believes adjustment to valuation is necessary in order to reasonably represent the fair value
of financial and non-financial instruments at the consolidated balance sheet. The inputs and
pricing information used during valuation are carefully assessed and adjusted based on
current market conditions.
(f) The Group takes into account adjustments for credit risks to measure the fair value of
financial and non-financial instruments to reflect credit risk of the counterparty.
E. In October 2023, the Group converted the convertible bonds of Lanner Electronics Inc. into
common stock. Therefore, the Group transferred the fair value from Level 2 to Level 1 at the end
of the month when the event occurred. For the year ended December 31, 2022, there was no
transfer between Level 1 and Level 2.
F. The following chart is the movement of Level 3 for the years ended December 31, 2023 and
2022:

253
 2023
Hybrid Equity
instruments instruments Total
At January 1 $ 204,249 $ 1,545,168 $ 1,749,417
Gains (losses) recognised
in profit or loss 25,621 ( 98,208) ( 72,587)
Gains recognised in other
comprehensive income - 354,136 354,136
Acquired during the year - 617,488 617,488
Disposals during the year ( - 645,886) ( 645,886)
Transfers out from Level 3 ( - 206,869) ( 206,869)
Others ( - 25,276) ( 25,276)
Net exchange differences ( - 2,049) ( 2,049)
At December 31 $ 229,870
$ 1,538,504 $ 1,768,374
2022
Hybrid Equity
instruments instruments Total
At January 1 $ 197,148 $ 1,662,662 $ 1,859,810
Gains recognised in profit
or loss 7,101 290,919 298,020
Gains recognised in other
comprehensive income - 9,874 9,874
Acquired during the year - 489,653 489,653
Disposals during the year - ( 672,926) ( 672,926)
Transfers out from Level 3 - ( 234,883) ( 234,883)
Others - ( 16,312) ( 16,312)
Net exchange differences - 16,181 16,181
At December 31 $ 204,249 $ 1,545,168 $ 1,749,417
G. For the years ended December 31, 2023 and 2022, the Group obtained sufficient observable
market information for certain financial assets at fair value through profit or loss. These equity
securities were transferred from Level 3 into Level 1 at the end of the month in which they were
listed.
H. Investment and accounting department is in charge of valuation procedures for fair value
measurements being categorised within Level 3, which is to verify independent fair value of
financial instruments. Such assessment is to ensure the valuation results are reasonable by
applying independent information to make results close to current market conditions and
periodical review.
The capital department establishes valuation policies, valuation processes and ensures
compliance with the related requirements in IFRS. The related valuation results are reported to
the management monthly. The management is responsible for managing and reviewing valuation
processes.

254
I. The following is the qualitative information of significant unobservable inputs and sensitivity
analysis of changes in significant unobservable inputs to valuation model used in Level 3 fair
value measurement:
Fair value at Significant
December 31, Valuation unobservable Relationship of
2023 technique input Range (median) inputs to fair value
Non-derivative equity
instruments:
Unlisted shares $ 1,421,372 Most recent Not applicable - Not applicable
non-active
market price
〃 117,132 Market Price to book 0.42~1.82 The higher the
comparable ratio multiple (0.90) multiple, the higher
companies the fair value; the
higher the discount
Price to book 1.38~3.90
for lack of
ratio multiple (1.99)
marketability, the
lower the fair value
Discount for 20%
lack of (20%)
marketability

Hybrid instrument:
Convertible preferred 229,870 Equity value of Discount for 1% The higher the
stocks complex capital lack of discount for lack of
structures marketability marketability, the
lower the fair value;
Stock price 55%
the higher the stock
volatility
price volatility, the
higher the fair value
Fair value at Significant
December 31, Valuation unobservable Relationship of
2022 technique input Range (median) inputs to fair value
Non-derivative equity
instruments:
Unlisted shares $ 1,336,503 Most recent Not applicable - Not applicable
non-active
market price

255
 Fair value at Significant
December 31, Valuation unobservable Relationship of
2022 technique input Range (median) inputs to fair value
Unlisted shares 208,665 Market Price to book 0.42~2.00 The higher the
comparable ratio multiple (0.97) multiple, the higher
companies the fair value; the
higher the discount
Price to book 0.64~2.20
for lack of
ratio multiple (2.0)
marketability, the
lower the fair value
Price to book 1.44~3.50
ratio multiple (1.98)

Discount for 20%

lack of (20%)
marketability

Hybrid instrument:
Convertible preferred $ 204,249 Equity value of Discount for 7% The higher the
stocks complex capital lack of discount for lack of
structures marketability marketability, the
lower the fair value;
Stock price 55%
the higher the stock
volatility
price volatility, the
higher the fair value
J. The Group’s valuation techniques are based on the most recent non-active market price after
carefully assessing the valuation models and assumptions used to measure fair value. However,
use of different valuation models or assumptions may result in different measurement. The
following is the effect on profit or loss or on other comprehensive income from financial assets
and liabilities categorised within Level 3 if the inputs used to valuation models have changed:
December 31, 2023
Recognised in Recognised in other
profit or loss comprehensive income (loss)
Favorable Unfavorable Favorable Unfavorable
Input Change change change change change
Financial assets
Equity Discount for ± 1% $ - $ - $ 1,714 ($ 1,714)
instruments lack of
marketability
Financial assets
Hybrid Discount for ± 1% $ 2,321 ($ 2,321) $ - $ -
instrument marketability

256
 December 31, 2022
Recognised in Recognised in other
profit or loss comprehensive income (loss)
Favorable Unfavorable Favorable Unfavorable
Input Change change change change change
Financial assets
Equity Discount for ± 1% $ - $ - $ 3,028 ($ 3,028)
instruments lack of
marketability
Financial assets
Hybrid Discount for ± 1% $ 2,197 ($ 2,193) $ - $ -
instrument marketability
13. SUPPLEMENTARY DISCLOSURES
(1) Significant transactions information
A. Loans to others: Please refer to table 1.
B. Provision of endorsements and guarantees to others: Please refer to table 2.
C. Holding of marketable securities at the end of the period (not including subsidiaries, associates
and joint ventures): Please refer to table 3.
D. Acquisition or sale of the same security with the accumulated cost exceeding $300 million or
20% of the Company’s paid-in capital: Please refer to table 4.
E. Acquisition of real estate reaching $300 million or 20% of paid-in capital or more: Please refer
to table 5.
F. Disposal of real estate reaching $300 million or 20% of paid-in capital or more: None.
G. Purchases or sales of goods from or to related parties reaching $100 million or 20% of paid-in
capital or more: Please refer to table 6.
H. Receivables from related parties reaching $100 million or 20% of paid-in capital or more: Please
refer to table 7.
I. Trading in derivative instruments undertaken during the reporting periods: Please refer to Notes
6(2), 6(4) and 12(2).
J. Significant inter-company transactions during the reporting periods: Please refer to table 8.
(2) Information on investees
Names, locations and other information of investee companies (not including investees in Mainland
China): Please refer to table 9.
(3) Information on investments in Mainland China
A. Basic information: Please refer to table 10.
B. Significant transactions, either directly or indirectly through a third area, with investee companies
in the Mainland China: Please refer to tables 6, 7 and 8 for significant transactions of purchases,
sales, receivables and payables of investee companies in the Mainland China, and transactions

257
 between the Company indirectly through investees in a third area, Delta Electronics Int'l
(Singapore) Pte. Ltd. (DEIL-SG), with investee companies in the Mainland China, for the year
ended December 31, 2023.
(4) Major shareholders information
Please refer to table 11.
14. OPERATING SEGMENT INFORMATION
(1) General information
The Group’s management has determined the reportable segments based on the reports reviewed by
the Board of Directors that are used to make strategic decisions. The Group considers the business
from a product perspective. The Group’s business is segregated into power electronics business,
automation business and infrastructure business. Breakdown of the revenue from all sources is as
follows:
A. Power electronics: Electronic Control Systems, Component, Fans and Thermal Management,
Automotive Electronics and Merchant & Mobile Power.
B. Automation: Industrial Automation and Building Automation.
C. Infrastructure: ICT Infrastructure, Energy Infrastructure and Digital Display Products..
(2) Measurement of segment information
The Group’s segment profit (loss) is measured with the operating profit (loss) before tax, which is
used as a basis for the Group in assessing the performance of the operating segments. The accounting
policies of the operating segments are in agreement with the significant accounting policies
summarized in Note 4.
(3) Segment information
The segment information provided to the chief operating decision-maker for the reportable segments
is as follows:
Year ended December 31, 2023
Power
electronics Automation Infrastructure
business business business Total
Revenue from external
customers $ 248,261,435 $ 54,295,479 $ 98,474,919 $ 401,031,833
Segment income (Note) $ 35,970,510 $ 1,463,565 $ 3,515,762 $ 40,949,837

258
 Year ended December 31, 2022
Power
electronics Automation Infrastructure
business business business Total
Revenue from external
customers $ 227,324,556 $ 54,519,220 $ 102,135,297 $ 383,979,073
Segment income (Note) $ 32,129,078 $ 3,147,127 $ 6,162,619 $ 41,438,824
(Note) Segment income represents income after eliminating inter-segment transactions.
(4) Reconciliation information for segment income
A. The revenue from external customers reported to the chief operating decision-maker is measured
in a manner consistent with that of the statement of comprehensive income.
B. A reconciliation of reportable segments income or loss to income before tax from continuing
operations for the years ended December 31, 2023 and 2022 is provided as follows:
Year ended December 31,
2023 2022
Reportable segments income $ 40,949,837 $ 41,438,824
Non-operating income and expenses 7,692,274 4,626,474
Income before tax from continuing operations $ 48,642,111 $ 46,065,298
(5) Information on products and services
As the Group considered the business from a product perspective, the reportable segments were
based on different products and services. Revenues from external customers are the same as in Note
14(3).
(6) Geographical information
Information about geographic areas for the years ended December 31, 2023 and 2022 were as
follows:
Years ended December 31,
2023 2022
Non-current Non-current
Revenue assets Revenue assets
Mainland China $ 107,709,513 $ 30,272,465 $ 113,271,949 $ 31,170,504
U.S.A. 100,431,267 8,530,845 103,574,115 9,063,754
Taiwan 35,761,311 45,671,490 35,439,444 42,435,159
Thailand 2,955,134 55,208,323 3,409,805 49,055,893
Others 154,369,276 43,674,234 128,747,995 38,503,262
Total $ 401,226,501 $ 183,357,357 $ 384,443,308 $ 170,228,572

(7) Major customer information

There are no customers accounting for more than 10% of the Group’s operating revenues for the
years ended December 31, 2023 and 2022.

259
 Delta Electronics, Inc. and Subsidiaries
Loans to others
Year ended December 31, 2023
Table 1 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Maximum
outstanding
balance during the Amount of
Is a year ended Balance at Nature of transactions Reason for Allowance Collateral Limit on loans
No. General ledger related December 31, December 31, Actual amount Interest loan with the short-term for doubtful granted to a Ceiling on total
(Note 1) Creditor Borrower account party 2023 (Note 2) 2023 drawn down rate (Note 6) borrower financing accounts Item Value single party loans granted Footnote
1 Fairview Assets Ltd. Delta Controls Inc. Other receivables Yes $ 2,855,565 $2,579,220 $ 1,565,955 5.43% 2 $ - Additional $ - None $ - $ 33,276,886 $ 33,276,886 Note 5
- related parties operating
capital
1 Fairview Assets Ltd. Delta Electronics Int'l Other receivables Yes 18,776,108 11,667,900 11,667,900 5.43% 2 - Additional - None - 33,276,886 33,276,886 Note 5
(Singapore) Pte. Ltd. - related parties operating
capital
1 Fairview Assets Ltd. Delta Electronics (H.K.) Other receivables Yes 9,672,075 9,672,075 9,672,075 5.43% 2 - Additional - None - 33,276,886 33,276,886 Note 5
Ltd. - related parties operating
capital
2 Delta International Delta Electronics Other receivables Yes 14,431,350 767,625 767,625 5.43% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. (Netherlands) B.V. - related parties operating
capital
2 Delta International Drake Investment (HK) Other receivables Yes 767,625 - - 5.43% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. Limited - related parties operating
capital
2 Delta International Delta Electronics (H.K.) Other receivables Yes 13,510,200 13,141,740 13,141,740 5.43% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. Ltd. - related parties operating
capital
2 Delta International Delta Controls Inc. Other receivables Yes 429,870 429,870 429,870 5.43% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. - related parties operating
capital
2 Delta International Digital Projection Inc. Other receivables Yes 70,622 - - 5.43% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. - related parties operating
capital
2 Delta International Amerlux, LLC Other receivables Yes 951,855 829,035 829,035 5.43% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. - related parties operating
capital
2 Delta International Delta Electronics (USA) Other receivables Yes 921,150 859,740 859,740 5.43% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. Inc. - related parties operating
capital
2 Delta International TB&C Outsert Center Other receivables Yes 67,960 - - 4.45% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. GmbH - related parties operating
capital
3 DELTA ELECTRONICS Delta Electronics Other receivables Yes 61,600 - - 3.80% 2 - Additional - None - 3,681,570 3,681,570 Note 5
(NORWAY) AS (Sweden) AB - related parties operating
capital

260
 Maximum
outstanding
balance during the Amount of
Is a year ended Balance at Nature of transactions Reason for Allowance Collateral Limit on loans
No. General ledger related December 31, December 31, Actual amount Interest loan with the short-term for doubtful granted to a Ceiling on total
(Note 1) Creditor Borrower account party 2023 (Note 2) 2023 drawn down rate (Note 6) borrower financing accounts Item Value single party loans granted Footnote
3 DELTA ELECTRONICS Delta Electronics Other receivables Yes $ 66,938 $ 43,313 $ 43,313 6.30% 2 $ - Additional $ - None $ - $ 3,681,570 $ 3,681,570 Note 5
(NORWAY) AS (Poland) Sp. z o.o. - related parties operating
capital
3 DELTA ELECTRONICS Eltek s.r.o. Other receivables Yes 329,606 329,606 329,606 4.45% 2 - Additional - None - 3,681,570 3,681,570 Note 5
(NORWAY) AS - related parties operating
capital
3 DELTA ELECTRONICS Delta Electronics Other receivables Yes 407,760 407,760 407,760 4.45% 2 - Additional - None - 3,681,570 3,681,570 Note 5
(NORWAY) AS (Slovakia) s.r.o. - related parties operating
capital
4 Delta Electronics Delta Electronics Other receivables Yes 1,514,202 1,514,202 1,514,202 4.65% 2 - Additional - None - 4,414,060 4,414,060 Note 5
(Wuhu) Co., Ltd. (Jiangsu) Ltd. - related parties operating
capital
5 Delta Energy Systems Delta Energy Systems Other receivables Yes 377,178 368,683 368,683 0.40% 2 - Additional - None - 1,213,868 1,213,868 Note 5
(Germany) GmbH Property (Germany) - related parties operating
GmbH capital
5 Delta Energy Systems Delta Electronics Other receivables Yes 509,700 509,700 509,700 4.45% 2 - Additional - None - 1,213,868 1,213,868 Note 5
(Germany) GmbH (Slovakia) s.r.o. - related parties operating
capital
6 DET International Delta Electronics India Other receivables Yes 2,394,990 2,394,990 2,394,990 1.7%- 2 - Additional - None - 7,992,372 7,992,372 Note 5
Holding B.V. Pvt. Ltd. - related parties 4% operating
capital
7 Delta Greentech Eltek s.r.o. Other receivables Yes 237,860 - - 4.45% 2 - Additional - None - 1,189,221 1,189,221 Note 5
(Netherlands) B.V. - related parties operating
capital
8 Delta Electronics Cyntec Electronics Other receivables Yes 1,965,866 951,784 951,784 3.70% 2 - Additional - None - 7,184,268 7,184,268 Note 5
(Shanghai) Co., Ltd. (WuHu) Co., Ltd. - related parties operating
capital
8 Delta Electronics Delta Electronics Other receivables Yes 1,903,568 605,681 605,681 4.45% 2 - Additional - None - 7,184,268 7,184,268 Note 5
(Shanghai) Co., Ltd. (Chongqing) Ltd. - related parties operating
capital
8 Delta Electronics Cyntec Electronics Other receivables Yes 865,258 - - 3.70% 2 - Additional - None - 7,184,268 7,184,268 Note 5
(Shanghai) Co., Ltd. (Suzhou) Co., Ltd. - related parties operating
capital
9 Delta Electronics Delta Green Industrial Other receivables Yes 90,170 - - 2.40% 2 - Additional - None - 60,284,130 60,284,130 Note 5
(Thailand) Public (Thailand) Co., Ltd. - related parties operating
Company Limited capital

261
 Maximum
outstanding
balance during the Amount of
Is a year ended Balance at Nature of transactions Reason for Allowance Collateral Limit on loans
No. General ledger related December 31, December 31, Actual amount Interest loan with the short-term for doubtful granted to a Ceiling on total
(Note 1) Creditor Borrower account party 2023 (Note 2) 2023 drawn down rate (Note 6) borrower financing accounts Item Value single party loans granted Footnote
10 Vivotek USA, Inc. Wellstates Investment, Other receivables Yes $ 33,428 $ 29,146 $ 29,146 3.90% 2 $ - Additional $ - None $ - $ 408,245 $ 408,245 Note 5
LLC - related parties operating
capital
11 Universal Instruments Universal Instruments Other receivables Yes 201,934 151,451 151,451 0.00% 2 - Additional - None - 2,764,558 2,764,558 Note 5
Corporation Mfg.(Shenzhen) Co. Ltd. - related parties operating
capital
11 Universal Instruments Universal Instruments Other receivables Yes 42,607 42,607 42,607 5.50% 2 - Additional - None - 2,764,558 2,764,558 Note 5
Corporation (Hong Kong) Limited - related parties operating
capital
12 TB&C Holding GmbH TB&C Outsert Other receivables Yes 41,134 - - 4.20% 2 - Additional - None - 965,515 965,515 Note 5
International B.V. - related parties operating
capital
13 TB&C Outsert TB&C Outsert Romania Other receivables Yes 145,000 - - 2.0%- 2 - Additional - None - 750,800 750,800 Note 5
International B.V. SRL - related parties 5.425% operating
capital
14 TB&C Outsert Mexico, TB&C Outsert Other receivables Yes 78,327 78,327 78,327 4.00% 2 - Additional - None - 716,097 716,097 Note 5
S. De R.L. DE C.V. International B.V. - related parties operating
capital
Note 1: The numbers filled in for the loans provided by the Company or subsidiaries are as follows:

Note 2: Maximum outstanding balance during the current period was translated into New Taiwan dollars using the exchange rate at December 31, 2023, which the Company reported to the Securities and Futures Bureau.

on the latest audited or reviewed financial statements.

on the latest audited or reviewed financial statements.

Note 6: Nature of loans:

(1) Business transaction: 1.
(2) Short-term financing: 2.

262
 Delta Electronics, Inc. and Subsidiaries
Provision of endorsements and guarantees to others
Year ended December 31, 2023
Table 2 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Party being endorsed/guaranteed Maximum Outstanding Ratio of accumulated Ceiling on Provision of Provision of
Relationship Limit on outstanding endorsement / Amount of endorsement / total amount Provision of endorsements endorsements /
with the endorsements / endorsement / guarantee Actual endorsements / guarantee amount to net of endorsements / / guarantees guarantees to
endorser / guarantees guarantee amount amount at amount guarantees asset value of the endorsements / guarantees by by subsidiary the party in
Number guarantor provided for a as at December December 31, drawn secured with endorser / guarantor guarantees parent company to parent Mainland
(Note 1) Endorser / guarantor Company name (Note 6) single party 31, 2023 2023 down collateral company provided to subsidiary company China Footnote
1 DELTA Delta Electronics 4 $ 1,104,471 $ 138,173 $ 138,173 $ 138,173 $ - 0.07% $ 1,104,471 N N N Note 2
ELECTRONICS (Australia) Pty Ltd
(NORWAY) AS

2 March Networks March Networks, 2 131,545 14,738 14,738 14,738 - 0.01% 263,090 N N N Note 3
Holdings Ltd. Inc.

3 TB&C Holding TB&C Outsert 2 48,276 22,214 22,214 22,214 - 0.01% 48,276 N N N Note 4
GmbH Romania SRL

4 TB&C Outsert TB&C Outsert 2 262,780 233,849 233,849 233,849 - 0.12% 262,780 N N N Note 5
International B.V. Mexico, S. De R.L.
DE C.V.

Note 1: The numbers filled in for the endorsements/guarantees provided by the Company or subsidiaries are as follows:

Note 6: Relationship between the endorser/guarantor and the party being endorsed/guaranteed is classified into the following seven categories:
(1) Having business relationship.
(2) The endorser/guarantor parent company owns directly and indirectly more than 50% voting shares of the endorsed/guaranteed subsidiary.
(3) The endorsed/guaranteed company owns directly and indirectly more than 50% voting shares of the endorser/guarantor parent company.
(4) The endorser/guarantor parent company owns directly and indirectly more than 90% voting shares of the endorsed/guaranteed company.
(5) Mutual guarantee of the trade made by the endorsed/guaranteed company or joint contractor as required under the construction contract.
(6) Due to joint venture, all shareholders provide endorsements/guarantees to the endorsed/guaranteed company in proportion to its ownership.
(7) Joint guarantee of the performance guarantee for pre-sold home sales contract as required under the Consumer Protection Act.

263
 Delta Electronics, Inc. and Subsidiaries
Holding of marketable securities at the end of the period (not including subsidiaries, associates and joint ventures)
December 31, 2023
Table 3 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

As at December 31, 2023

Relationship with the Number of Ownership
Securities held by Marketable securities securities issuer General ledger account shares Book value (%) Fair value Footnote
Delta Electronics, Inc. United Renewable Energy Co., Ltd. None Financial assets at fair value through other 31,294,379 $ 460,027 1.92% $ 460,027
common stock comprehensive income - non-current

Delta Electronics, Inc. Lanner Electronics Inc. common stock None Financial assets at fair value through other 26,893,540 3,025,523 18.50% 3,025,523
comprehensive income and Financial assets at
fair value through profit or loss

Delta Electronics, Inc. Betacera Inc. common stock, etc. None Financial assets at fair value through other - 125,527 - 125,527
comprehensive income and Financial assets at
fair value through profit or loss

Delta Electronics Capital Company Evergreen Aviation Technologies None Financial assets at fair value through profit or 2,501,000 271,359 0.67% 271,359
Corporation common stock loss - current

Delta Electronics Capital Company Allied Supreme Corp. common stock None Financial assets at fair value through profit or 421,000 137,036 0.53% 137,036
loss - current

Delta Electronics Capital Company Tong Hsing Electronic Industries, Ltd. None Financial assets at fair value through profit or 1,240,557 195,388 0.59% 195,388
common stock loss - current

Delta Electronics Capital Company AMPAK Technology, Inc. common None Financial assets at fair value through profit or 900,000 108,000 1.36% 108,000
stock loss - current

Delta Electronics Capital Company Fusheng Precision Co., Ltd. common None Financial assets at fair value through profit or 844,000 174,286 0.64% 174,286
stock loss - current

Delta Electronics Capital Company Acer E-Enabling Service Business Inc. None Financial assets at fair value through profit or 547,000 161,365 1.32% 161,365
common stock loss - current

Delta Electronics Capital Company Nien Made Enterprise Co., Ltd. None Financial assets at fair value through profit or 423,043 149,334 0.14% 149,334
common stock loss - current

Delta Electronics Capital Company UBIQCONN TECHNOLOGY, INC. None Financial assets at fair value through profit or 4,969,311 393,669 6.63% 393,669
common stock loss - current

264
 As at December 31, 2023
Relationship with the Number of Ownership
Securities held by Marketable securities securities issuer General ledger account shares Book value (%) Fair value Footnote
Delta Electronics Capital Company WorkWave HoldCo, Inc. common None Financial assets at fair value through profit or 139 $ 129,400 0.20% $ 129,400
stock loss - non-current
Delta Electronics Capital Company REALLUSION INC. common stock, None Financial assets at fair value through profit or - 1,486,325 - 1,486,325
etc. loss
Delta Electronics (Netherlands) B.V. Noda RF Technologies Co., Ltd. None Financial assets at fair value through other - 59,320 - 59,320
common sotck, etc. comprehensive income - non-current
Cyntec Co., Ltd. Susumu Holdings Co., Ltd. common None Financial assets at fair value through other 200,000 104,081 15.35% 104,081
stock comprehensive income - non-current

Delta Electronics (Japan), Inc. Macy Inc. common stock None Financial assets at fair value through other 74,000,000 26,972 19.79% 26,972
comprehensive income - non-current

Delta America, Ltd. VPT Inc. common stock None Financial assets at fair value through other 860,000 5,373 17.52% 5,373
comprehensive income - non-current

Delta Electronics (H.K.) Ltd. Zhejiang Keente None Financial assets at fair value through other - 349,401 19.00% 349,401
Motor Technology Co., Ltd. comprehensive income - non-current

Delta Electronics (Pingtan) Co., Ltd. Pingtan Hi Tech Investment None Financial assets at fair value through other - 6,489 15.00% 6,489
Development Shares Co., Ltd. comprehensive income - non-current

Delta Electronics Int'l (Singapore) Pte. Zero-Error Systems Pte Ltd. preferred None Financial assets at fair value through other 1,761,804 92,115 12.11% 92,115
Ltd. stock comprehensive income - non-current

Vivotek Inc. Kneron Holding Corporation preferred None Financial assets at fair value through profit or 1,310,003 229,870 1.91% 229,870
stock loss - non-current

Atrust Computer Corporation ACRORED TECHNOLOGIES, INC. None Financial assets at fair value through other 500,000 3,780 2.38% 3,780
common stock comprehensive income - non-current

265
 Delta Electronics, Inc. and Subsidiaries

Year ended December 31, 2023

Table 4 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Balance as at Balance as at
General Relationship January 1, 2023 Addition Disposal December 31, 2023
Marketable ledger with Number of Number of Number of Gain (loss) on Number of
Amount Amount Selling price Book value Amount
Investor securities account Counterparty the investee shares shares shares disposal shares Footnote
Delta Electronics, Inc. Atrust Computer Investments CW & ET Link Inc and None - $ - 28,825,000 $ 949,711 - $ - $ - $ - 28,825,000 $ 949,711
Corporation accounted for under individuals (Note 1)
equity method

Delta Electronics (Netherlands) Delta America Ltd. " Delta International Holding Affiliated 18,374,182 3,398,629 - - 18,374,182 6,140,550 3,398,629 (Note 2) - -
B.V. Limited B.V. enterprise (Note 4)

Delta Electronics (Netherlands) Trihedral Engineering " Delta International Holding " 51,495 1,219,426 - - 51,495 1,959,680 1,219,426 (Note 3) - -
B.V. Limited Limited B.V. (Note 4)

Delta Electronics (Thailand) Delta Energy Systems " Delta Energy Systems " 173,263,590 8,525,632 105,635,630 2,010,331 - - - - 278,899,220 10,535,963
Public Company Limited (Singapore) PTE. (Singapore) PTE. LTD. (Note 5)
LTD.

Delta Energy Systems Delta Electronics India " Delta Electronics India Pvt. " 828,088,778 7,114,707 484,583,333 3,690,256 - - - - 1,312,672,111 10,804,963
(Singapore) PTE. LTD. Pvt. Ltd. Ltd. (Note 6)

Delta Electronics (Netherlands) Amerlux, LLC " Delta International Holding " - 3,057,203 - - - 3,015,950 3,057,203 (Note 7) - -
B.V. Limited B.V. (Note 4)

Delta International Holding Digital Projection " Digital Projection " 49,789,874 162,729 12,000,000 88,644 - - - - 61,789,874 251,373
Limited B.V. International Limited International Limited (DPIL) (Note 8)
(DPIL)

Digital Projection International Digital Projection " Digital Projection Holdings " 40,526,221 ( 295,452) 9,592,326 336,592 - - - - 50,118,547 41,140
Limited (DPIL) Holdings Limited Limited (DPHL) (Note 8)
(DPHL)

Digital Projection Holdings Digital Projection " Digital Projection Limited " 43,118 159,558 95,923 384,401 - - - - 139,041 543,959
Limited (DPHL) Limited (DPL) (DPL) (Note 8)

Delta Electronics (Netherlands) Boom Treasure " Boom Treasure Limited/ " 1 1,923,916 183,064,000 717,662 183,064,001 3,084,417 2,641,578 (Notes 9 and - -
B.V. Limited Drake Investment (HK) (Note 9) (Note 4) 10)
Limited

Delta Electronics (Netherlands) Delta Greentech SGP " Boom Treasure Limited " 12,175,470 641,153 - - 12,175,470 717,662 641,153 (Note 9) - -
B.V. Pte. Ltd. (Note 4)

Delta Electronics (Netherlands) Drake Investment " Drake Investment (HK) " 304,504,306 5,365,615 776,552,000 2,511,710 - - - - 1,081,056,306 7,877,325
B.V. (HK) Limited Limited (Note 10)

266
 Balance as at Balance as at
General Relationship January 1, 2023 Addition Disposal December 31, 2023
Marketable ledger with Number of Number of Number of Gain (loss) on Number of
Amount Amount Selling price Book value Amount
Investor securities account Counterparty the investee shares shares shares disposal shares Footnote
Delta Electronics (Thailand) DELTA Investments DELTA ELECTRONICS Affiliated 38,110,999 $ 153,255 214,500,000 $ 740,793 - $ - $ - $ - 252,610,999 $ 894,048
Public Company Limited ELECTRONICS accounted for under INDIA MANUFACTURING enterprise (Note 11)
INDIA equity method PRIVATE LIMITED
MANUFACTURING
PRIVATE LIMITED

Delta International Holding Delta Electronics " The stock exchange of None 191,984,450 14,290,766 1,727,860,050 - 89,232,800 7,380,571 1,101,362 (Note 13) 1,830,611,700 15,392,128
Limited B.V. (Thailand) Public Thailand (Note 12) (Note 4)
Company Limited

Delta Electronics (H.K.) Ltd. Zhejiang Keente Financial assets at fair Future Horizon Holding " - - - 349,401 - - - - - 349,401
Motor Technology value through other Limited
Co., Ltd. comprehensive
income - non-current
Cyntec Co., Ltd. GaN Systems Inc. " Infineon Technologies " 1,454,193 89,874 - - 1,454,193 554,179 89,874 399,303 - -
preferred stock Canada Acquisition Inc. (Note 18)

Delta International Holding HY&T Investments Investments E BOKKEL BEHEER B.V. " - - 750,232,500 5,054,938 - - - - 750,232,500 5,054,938
Limited B.V. Holding B.V. (NLI) accounted for under and COOPERATIEF H2 (Note 14)
equity method EQUITY PARTNERS
FUND IV HOLDING W.A.

HY&T Investments Holding TB&C Investments " TB&C Investments B.V. Affiliated 232,500 898,230 750,000,000 146,043 - - - - 750,232,500 1,044,273
B.V. (NLI) B.V. (NLV) (NLV) enterprise (Note 15)

TB&C Investments B.V. (NLV) TB&C Holding GmbH " TB&C Holding GmbH " 21 638,427 - 327,088 - - - - 21 965,515
(DEH) (DEH) (Note 16)

DET International Holding B.V. Eltek s.r.o. " Eltek s.r.o. " - - - 781,011 - - - - - 781,011
(Note 17)

Note 1: Delta Electronics, Inc. increased its investment in Atrust Computer Corporation in the amount of $950,259 in February 2023, which included investment income or loss recognised during the period and adjustments in changes of net value.

There was no gain or loss on disposal pursuant to related ordinances.

There was no gain or loss on disposal pursuant to related ordinances.

Note 4: Including the adjustments in investment income or loss recognised during the period and adjustments in changes of net value.
Note 5: Delta Electronics (Thailand) Public Company Limited increased its investment in Delta Energy Systems (Singapore) PTE. LTD. in the amount of $3,293,128 in 2023, which included investment income or loss recognised during the period and adjustments in changes of net value.
Note 6: Delta Energy Systems (Singapore) PTE. LTD. increased its investment in Delta Electronics India Pvt. Ltd. in the amount of $3,293,128 in 2023, which included investment income or loss recognised during the period and adjustments in changes of net value.

There was no gain or loss on disposal pursuant to related ordinances.

Note 8: Delta International Holding Limited B.V. (DIH) increased its investment in Digital Projection International Limited (DPIL) in the amount of $369,540 in May 2023, DPIL then increased its investment in its wholly-owned subsidiary, DPHL,
and DPHL then increased its investment in its wholly-owned subsidiary, DPL, which included investment income or loss recognised during the period and adjustments in changes of net value.
Note 9: In June 2023, Boom Treasure Limited issued new shares amounting to $717,662 for acquiring a 100% equity interest in Delta Greentech SGP Pte. Ltd. which was held by Delta Electronics (Netherlands) B.V. (DEN).

Note 10: In July 2023, Drake Investment (HK) Limited issued new shares amounting to $3,084,417 for acquiring a 100% equity interest in Boom Treasure Limited which was held by Delta Electronics (Netherlands) B.V. (DEN).

267
Note 11: In September 2023, Delta Electronics (Thailand) Public Company Limited increased its investment in DELTA ELECTRONICS INDIA MANUFACTURING PRIVATE LIMITED in the amount of $828,850, which included
investment income or loss recognised during the period and adjustments in changes of net value.
Note 12: Delta Electronics (Thailand) Public Company Limited split stocks in April 2023. The par value of each share was THB 1 before the stock split and is THB 0.1 after the stock split, and thus the number of shares increased tenfold.
Note 13: It was an equity transaction, thus there was no gain or loss on disposal.
Note 14: In 2023, Delta International Holding Limited B.V. (DIH) increased its investment in HY&T Investment Holding B.V. (NLI) in the amount of $5,453,852, which included investment income or loss recognised during the period and adjustments in changes of net value.
Note 15: In October 2023, HY&T Investments Holding B.V. (NLI) increased its investment in TB&C Investments B.V. (NLV) in the amount of $1,727,441, which included investment income or loss recognised during the period and adjustments in changes of net value.
Note 16: In October 2023, TB&C Investments B.V. (NLV) increased its investment in TB&C Holding GmbH (DEH) in the amount of $701,757, which included investment income or loss recognised during the period and adjustments in changes of net value.
Note 17: In October 2023, DET International Holding B.V. increased its investment in Eltek s.r.o. in the amount of $757,564, which included investment income or loss recognised during the period and adjustments in changes of net value.
Note 18: It pertains to the disposal of financial assets at fair value through other comprehensive income, and the disposal gain or loss net of the tax effect was recognised in other comprehensive income.

268
 Delta Electronics, Inc. and Subsidiaries
Acquisition of real estate reaching NT$300 million or 20% of paid-in capital or more
Year ended December 31, 2023
Table 5 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

If the counterparty is a related party, information as to the

last transaction of the real estate is disclosed below:

Original Relationship Reason for

owner who between the Basis or acquisition of
Relationship sold the real original owner Date of reference used real estate
Real estate Transaction with the estate to the and the the original in setting and status Other
acquired by Real estate acquired Date of the event amount Status of payment Counterparty counterparty counterparty acquirer transaction Amount the price of the real estate commitments
Delta Electronics India KG SEZ F6 March 25, 2023 $ 645,670 In accordance with Furein Construction None - - - $ - Price comparison and For future business None
India Pvt. Ltd. Factory Building the contract terms Engineering Pvt etc negotiation development

Delta Electronics India KG DTA F2 March 25, 2023 659,743 " " " - - - - " " "
India Pvt. Ltd. Factory Building

DELTA Land and buildings in July 6, 2023 319,400 " GBP LOTUS PLANO, " - - - - By reference to the " "
ELECTRONICS Texas, U.S.A LLC price quoted by the
(USA) INC. professional appraisal
agency and market
value
Delta Electronics The civil work for October 24, 2023 1,632,309 " Suzhou Tongli " - - - - Price comparison and " "
(Chongqing) Ltd. Plant 1 Architecture Co., Ltd. negotiation

Delta Electronics The civil work for December 5, 2023 991,870 " New Nanyang " - - - - " " "
(Thailand) Public Plant WG4 Construction Co., Ltd.
Company Limited

269
 Delta Electronics, Inc. and Subsidiaries
Purchases or sales of goods from or to related parties reaching $100 million or 20% of the Company's paid-in capital or more
Year ended December 31, 2023
Table 6 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
Delta Electronics, Inc. Delta Electronics (Australia) Pty Ltd Subsidiary Operating revenue $ 166,859 0.19 70 days $ 44,335 0.29

Delta Electronics, Inc. Delta Electronics (Jiangsu) Ltd. Subsidiary Operating revenue 620,340 0.71 70 days after 609,966 3.99
issuing invoice

Delta Electronics, Inc. Delta Electronics (Shanghai) Co., Ltd. Subsidiary Operating revenue 182,890 0.21 70 days after 180,344 1.18
issuing invoice

Delta Electronics, Inc. Delta Greentech (China) Co., Ltd. Subsidiary Operating revenue 130,767 0.15 70 days 52,652 0.34

Delta Electronics, Inc. Cyntec Electronics (Suzhou) Co., Ltd. Subsidiary Operating revenue 232,318 0.27 70 days 2,200 0.01

Delta Electronics, Inc. Delta Electronics India Pvt. Ltd. Subsidiary Operating revenue 280,318 0.32 90 days after 57,561 0.38
delivery

Delta Electronics, Inc. Delta Electronics (Japan), Inc. Subsidiary Operating revenue 221,049 0.25 70 days 81,428 0.53

Delta Electronics, Inc. Addtron Technology (Japan), Inc. Subsidiary Operating revenue 452,338 0.52 70 days 109,315 0.71

Delta Electronics, Inc. Delta Electronics (Korea), Inc. Subsidiary Operating revenue 165,221 0.19 70 days 120,834 0.79

Delta Electronics, Inc. Delta Electronics (Netherlands) B.V. Subsidiary Operating revenue 975,019 1.12 70 days 126,501 0.83

Delta Electronics, Inc. Delta Electronics Int'l (Singapore) Pte. Ltd. Subsidiary Operating revenue 20,775,297 23.80 70 days 2,024,475 11.93

Delta Electronics, Inc. Delta Electronics (Thailand) Public Company Subsidiary Operating revenue 6,014,760 6.89 70 days 2,008,219 13.13
Limited

Delta Electronics, Inc. DEI Logistics (USA) Corp. Subsidiary Operating revenue 7,695,077 8.82 90 days after 1,860,255 12.16
delivery

270
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
Delta Electronics, Inc. Delta Electronics (Americas) Ltd. Subsidiary Operating revenue $ 4,278,039 4.90 70 days $ 1,356,148 8.87

Delta Electronics, Inc. Delta Electronics (USA) Inc. Subsidiary Operating revenue 212,771 0.24 70 days 42,032 0.27

Delta Electronics (Dongguan) Co., Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated Operating revenue 196,988 0.48 70 days 135,022 2.47
enterprise

Delta Electronics (Dongguan) Co., Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated Operating revenue 5,556,153 13.50 70 days 1,410,619 25.79
enterprise

Delta Electronics (Dongguan) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 35,329,642 85.92 70 days 3,922,497 71.72
enterprise

Delta Electronics (Jiangsu) Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated Operating revenue 18,493,532 24.34 70 days 4,739,083 51.05
enterprise

Delta Electronics (Jiangsu) Ltd. Delta Electronics (Wuhu) Co., Ltd. Affiliated Operating revenue 496,998 0.65 70 days 111,391 1.20
enterprise

Delta Electronics (Jiangsu) Ltd. Delta Electronics (Chongqing) Ltd. Affiliated Operating revenue 123,708 0.16 70 days 44,576 0.48
enterprise

Delta Electronics (Jiangsu) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 56,671,678 74.59 70 days 4,302,019 46.34
enterprise

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics (Dongguan) Co., Ltd. Affiliated Operating revenue 116,634 0.37 70 days 16,284 0.20
enterprise

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated Operating revenue 301,367 0.96 70 days 51,218 0.64
enterprise

Delta Electronics (Shanghai) Co., Ltd. Delta Greentech (China) Co., Ltd. Affiliated Operating revenue 13,953,780 44.59 70 days 3,911,743 48.65
enterprise

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics (Pingtan) Co., Ltd. Affiliated Operating revenue 2,631,490 8.41 70 days 715,590 8.90
enterprise

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 1,385,272 4.43 70 days 124,729 1.55
enterprise

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 552,174 1.77 70 days 155,169 1.93
Limited enterprise

271
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
Delta Greentech (China) Co., Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated Operating revenue $ 199,911 0.63 70 days $ 13,745 0.32
enterprise

Delta Networks (Dongguan) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 5,704,885 98.49 70 days 585,107 97.68
enterprise

Delta Electronics (Wuhu) Co., Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated Operating revenue 374,712 5.68 70 days 83,050 9.76
enterprise

Delta Electronics (Wuhu) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 6,214,952 94.32 70 days 760,134 89.35
enterprise

Delta Electronics (Chenzhou) Co., Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated Operating revenue 615,215 10.94 70 days 166,662 15.62
enterprise

Delta Electronics (Chenzhou) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 5,007,614 89.06 70 days 900,062 84.37
enterprise

Chenzhou Delta Technology Co., Ltd. Delta Electronics (Dongguan) Co., Ltd. Affiliated Operating revenue 1,944,324 55.31 70 days 424,496 62.46
enterprise

Chenzhou Delta Technology Co., Ltd. Delta Electronics (Chenzhou) Co., Ltd. Affiliated Operating revenue 652,510 18.57 70 days 155,462 22.87
enterprise

Chenzhou Delta Technology Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 897,280 25.50 70 days 94,103 13.85
enterprise

Delta Electronics (Chongqing) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 903,021 99.98 70 days 129,762 99.83
enterprise

Cyntec Co., Ltd. Delta Electronics, Inc. Ultimate parent Operating revenue 2,188,359 25.87 70 days 644,355 34.85
company

Cyntec Co., Ltd. DEI Logistics (USA) Corp. Affiliated Operating revenue 204,777 2.42 90 days after 69,424 3.75
enterprise delivery

Cyntec Electronics (Suzhou) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 12,430,157 100.00 70 days 1,081,934 99.99
enterprise

Cyntec Electronics (WuHu) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 3,877,114 100.00 70 days 312,328 100.00
enterprise

Delta Energy Systems (Germany) GmbH Delta Electronics (Thailand) Public Company Affiliated Operating revenue 1,937,896 76.01 70 days - -
Limited enterprise

272
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
DELTA ELECTRONICS (France) SAS Delta Electronics (Netherlands) B.V. Affiliated Operating revenue $ 105,694 7.20 70 days $ 34,728 14.04
enterprise

Delta Energy Systems (UK) Ltd. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 104,648 100.00 70 days 9,105 100.00
Limited enterprise

Delta Electronics India Pvt. Ltd. DELTA ELECTRONICS INDIA Affiliated Operating revenue 252,751 2.27 70 days 213,516 8.40
MANUFACTURING PRIVATE LIMITED enterprise

Delta Electronics India Pvt. Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 2,386,791 21.33 70 days 806,157 31.71
enterprise

Delta Electronics India Pvt. Ltd. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 240,112 2.16 70 days 15,744 0.62
Limited enterprise

Delta Electronics (Japan), Inc. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 1,039,537 20.53 70 days 135,285 13.98
enterprise

Delta Electronics (Japan), Inc. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 129,083 2.55 70 days 25,489 2.63
Limited enterprise

Delta Electronics (Netherlands) B.V. Delta Electronics (Italy) S.r.l. Affiliated Operating revenue 445,195 5.12 70 days 29,404 1.85
enterprise

Delta Electronics (Netherlands) B.V. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 813,227 9.30 70 days 115,122 7.24
enterprise

Delta Electronics (Netherlands) B.V. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 137,819 1.58 70 days 18,329 1.15
Limited enterprise

Delta Electronics (Netherlands) B.V. Delta Greentech Electronics Industry LLC Affiliated Operating revenue 739,449 8.47 180 days 393,845 24.77
enterprise

DELTA ELECTRONICS (NORWAY) AS ELTEK MEA DMCC Affiliated Operating revenue 219,144 5.24 70 days 70,312 9.88
enterprise

DELTA ELECTRONICS (NORWAY) AS DELTA Electronics (Germany) GmbH Affiliated Operating revenue 750,014 17.90 70 days 77,523 10.90
enterprise

DELTA ELECTRONICS (NORWAY) AS DELTA ELECTRONICS (France) SAS Affiliated Operating revenue 544,570 12.98 70 days 111,212 15.63
enterprise

DELTA ELECTRONICS (NORWAY) AS DELTA ELECTRONICS (UK) LTD Affiliated Operating revenue 430,808 10.30 70 days 52,273 7.35
enterprise

273
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
DELTA ELECTRONICS (NORWAY) AS Delta Electronics (Poland) Sp. z o.o. Affiliated Operating revenue $ 155,149 3.70 70 days $ 69,167 9.72
enterprise

DELTA ELECTRONICS (NORWAY) AS Delta Electronics (Sweden) AB Affiliated Operating revenue 244,518 5.85 70 days 17,207 2.42
enterprise

DELTA ELECTRONICS (NORWAY) AS Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 225,627 5.36 70 days 935 0.13
enterprise

DELTA ELECTRONICS (NORWAY) AS Eltek s.r.o. Affiliated Operating revenue 245,664 5.87 70 days 28,742 4.04
enterprise

Delta Electronics (Poland) Sp. z o.o. DELTA ELECTRONICS (NORWAY) AS Affiliated Operating revenue 153,286 22.06 70 days 13,224 10.84
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Australia) Pty Ltd Affiliated Operating revenue 945,181 0.40 70 days 187,227 0.35
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. DELTA ELECTRONICS BRASIL LTDA. Affiliated Operating revenue 251,216 0.11 90 days after 81,750 0.15
enterprise delivery

Delta Electronics Int'l (Singapore) Pte. Ltd. ELTEK SISTEMAS DE ENERGIA Affiliated Operating revenue 179,832 0.08 90 days after 81,532 0.15
INDUSTRIA E COMERCIO LTDA. enterprise delivery

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Switzerland) AG Affiliated Operating revenue 2,293,525 0.98 70 days 724,334 1.37
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Dongguan) Co., Ltd. Affiliated Operating revenue 21,304,360 9.11 70 days 6,208,857 11.75
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated Operating revenue 25,217,049 10.77 70 days 1,470,001 2.78
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Networks (Dongguan) Ltd. Affiliated Operating revenue 4,443,883 1.91 70 days - -
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Wuhu) Co., Ltd. Affiliated Operating revenue 4,775,056 2.04 70 days 509,709 0.96
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Chenzhou) Co., Ltd. Affiliated Operating revenue 3,091,662 1.32 70 days 920,038 1.74
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Chenzhou Delta Technology Co., Ltd. Affiliated Operating revenue 296,183 0.13 70 days 41,504 0.08
enterprise

274
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Chongqing) Ltd. Affiliated Operating revenue $ 339,612 0.14 70 days $ 74,751 0.14
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Cyntec Co., Ltd. Affiliated Operating revenue 2,146,253 0.91 70 days 1,159,709 2.19
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Cyntec Electronics (Suzhou) Co., Ltd. Affiliated Operating revenue 488,101 0.21 70 days 94,808 0.18
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Cyntec Electronics (WuHu) Co., Ltd. Affiliated Operating revenue 146,918 0.06 70 days 33,927 0.06
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics Solutions (Spain) SL Affiliated Operating revenue 242,985 0.10 150 days 132,865 0.25
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Solutions (Finland) Oy Affiliated Operating revenue 117,079 0.05 70 days 15,115 0.03
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. DELTA ELECTRONICS (France) SAS Affiliated Operating revenue 174,235 0.07 70 days 32,829 0.06
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Digital Projection Limited Affiliated Operating revenue 225,186 0.10 75 days after 105,332 0.20
enterprise delivery

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics India Pvt. Ltd. Affiliated Operating revenue 1,681,272 0.72 90 days after 456,493 0.86
enterprise delivery

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Italy) S.r.l. Affiliated Operating revenue 201,866 0.09 70 days 41,551 0.08
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Japan), Inc. Affiliated Operating revenue 2,679,397 1.14 70 days 552,407 1.05
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Addtron Technology (Japan), Inc. Affiliated Operating revenue 232,954 0.10 70 days 138,429 0.26
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Korea), Inc. Affiliated Operating revenue 254,267 0.11 70 days 70,502 0.13
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics International Mexico, S.A. Affiliated Operating revenue 256,022 0.11 70 days 135,749 0.26
de C.V. enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Netherlands) B.V. Affiliated Operating revenue 3,257,558 1.40 70 days 533,857 1.01
enterprise

275
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
Delta Electronics Int'l (Singapore) Pte. Ltd. DELTA ELECTRONICS (NORWAY) AS Affiliated Operating revenue $ 1,057,142 0.46 70 days $ 119,708 0.23
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Slovakia) s.r.o. Affiliated Operating revenue 1,478,091 0.63 70 days 301,664 0.57
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 4,060,815 1.73 70 days 897,652 1.70
Limited enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics, Inc. Ultimate parent Operating revenue 23,360,828 9.99 70 days 7,207,937 13.64
company

Delta Electronics Int'l (Singapore) Pte. Ltd. DEI Logistics (USA) Corp. Affiliated Operating revenue 14,938,260 6.38 90 days after 5,478,193 10.37
enterprise delivery

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Americas) Ltd. Affiliated Operating revenue 3,131,072 1.33 70 days 1,052,003 1.99
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (USA) Inc. Affiliated Operating revenue 3,102,873 1.32 70 days 895,659 1.69
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Vietnam) Company Affiliated Operating revenue 114,396 0.05 70 days 82,451 0.16
Limited enterprise

Delta Electronics (Slovakia) s.r.o. Delta Electronics (Netherlands) B.V. Affiliated Operating revenue 1,415,364 24.58 70 days 335,879 17.29
enterprise

Delta Electronics (Slovakia) s.r.o. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 2,634,274 44.97 70 days 1,082,408 55.71
enterprise

Delta Electronics (Slovakia) s.r.o. Eltek s.r.o. Affiliated Operating revenue 513,956 8.87 70 days 206,514 10.63
enterprise

Delta Electronics (Slovakia) s.r.o. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 1,207,382 20.80 70 days 308,310 15.87
Limited enterprise

Eltek s.r.o. DELTA ELECTRONICS (NORWAY) AS Affiliated Operating revenue 1,550,444 48.29 70 days 48,342 8.07
enterprise

Eltek s.r.o. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 1,644,417 51.20 70 days 534,207 89.17
enterprise

Delta Electronics (Thailand) Public Company Delta Energy Systems (Germany) GmbH Affiliated Operating revenue 509,342 0.47 70 days 19,339 0.06
Limited enterprise

276
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
Delta Electronics (Thailand) Public Company Delta Electronics India Pvt. Ltd. Affiliated Operating revenue $ 542,385 0.50 90 days after $ 323,155 1.06
Limited enterprise delivery

Delta Electronics (Thailand) Public Company Delta Electronics (Japan), Inc. Affiliated Operating revenue 266,421 0.24 70 days 51,541 0.17
Limited enterprise

Delta Electronics (Thailand) Public Company Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 1,486,115 1.36 70 days 457,391 1.50
Limited enterprise

Delta Electronics (Thailand) Public Company Delta Electronics (Slovakia) s.r.o. Affiliated Operating revenue 436,237 0.40 70 days 45,823 0.15
Limited enterprise

Delta Electronics (Thailand) Public Company Delta Electronics, Inc. Ultimate parent Operating revenue 184,945 0.17 70 days 77,121 0.25
Limited company

Delta Electronics (Thailand) Public Company DET Logistics (USA) Corporation Affiliated Operating revenue 34,111,273 31.17 90 days after 13,334,830 43.77
Limited enterprise delivery

Delta Electronics (Thailand) Public Company Delta Electronics (Americas) Ltd. Affiliated Operating revenue 1,079,522 0.99 70 days 177,450 0.58
Limited enterprise

Delta Green Industrial (Thailand) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 131,660 32.25 70 days - -
enterprise

DEI Logistics (USA) Corp. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 133,499 0.56 70 days 2,032 0.05
enterprise

Delta Electronics (Americas) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 499,998 3.41 70 days 8,950 0.37
enterprise

Delta Electronics (Americas) Ltd. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 810,408 5.50 70 days 89,499 3.73
Limited enterprise

Digital Projection Inc. Delta Electronics (Americas) Ltd. Affiliated Operating revenue 263,991 43.38 70 days - -
enterprise

Delta Electronics (Automotive) Americas Inc. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 257,013 100.00 70 days - -
Limited enterprise

Delta Electronics (USA) Inc. Delta Electronics (Americas) Ltd. Affiliated Operating revenue 319,896 3.34 70 days 220,943 12.67
enterprise

277
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
March Networks Corporation March Networks, Inc. Affiliated Operating revenue $ 1,374,584 75.04 30 days Note 1 Note 1 $ 271,567 55.69
enterprise

March Networks Corporation March Networks S.r.l. Affiliated Operating revenue 144,519 7.89 30 days Note 2 Note 2 11,677 2.39
enterprise

Vivotek Inc. Vivotek USA, INC. Affiliated Operating revenue 452,140 5.00 75 days Note 3 Note 3 100,717 9.00
enterprise

Note 1: March Networks Corporation determined the prices and terms of goods sold to March Networks, Inc. based on the economic conditions and market competitiveness of the sales area, and there is no comparable prices and terms available for
the goods sold to third parties.
Note 2: March Networks Corporation determined the prices and terms of goods sold to March Networks S.r.l. based on the economic conditions and market competitiveness of the sales area, and there is no comparable prices and terms available for
the goods sold to third parties.
Note 3: Vivotek Inc. determined the prices and terms of goods sold to Vivotek USA, Inc. based on the economic conditions and market competitiveness of the sales area, and there is no comparable prices and terms available for the goods
sold to third parties.

278
 Delta Electronics, Inc. and Subsidiaries
Receivables from related parties reaching $100 million or 20% of the Company's paid-in capital or more
December 31, 2023
Table 7 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Amount collected
Balance as at Overdue receivables subsequent to the
Relationship with the December 31, 2023 Turnover balance date Allowance for
Creditor Counterparty counterparty (Note 1) rate Amount Action taken (Note 2) doubtful accounts
Delta Electronics, Inc. Delta Electronics (Jiangsu) Ltd. Subsidiary $ 609,966 1.01 $ - $ 67

Delta Electronics, Inc. Delta Electronics (Shanghai) Co., Ltd. Subsidiary 180,344 0.61 - -

Delta Electronics, Inc. Addtron Technology (Japan), Inc. Subsidiary 109,315 8.28 - 109,315

Delta Electronics, Inc. Delta Electronics (Korea), Inc. Subsidiary 120,834 2.66 - 120,834

Delta Electronics, Inc. Delta Electronics (Netherlands) B.V. Subsidiary 126,501 9.29 - 104,214

Delta Electronics, Inc. Delta Electronics Int'l (Singapore) Pte. Ltd. Subsidiary 2,305,179 0.72 - 2,305,179

Delta Electronics, Inc. Delta Electronics (Thailand) Public Company Subsidiary 2,008,219 4.63 158,861 1,727,922
Limited
Delta Electronics, Inc. DEI Logistics (USA) Corp. Subsidiary 1,860,255 2.85 - 635,080

Delta Electronics, Inc. Delta Electronics (Americas) Ltd. Subsidiary 1,356,148 3.38 3,615 1,356,148

Delta Electronics (Dongguan) Co., Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated enterprise 135,022 1.82 151 66,992

Delta Electronics (Dongguan) Co., Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated enterprise 1,410,619 4.00 - 507,092

Delta Electronics (Dongguan) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 3,922,497 9.96 - 3,922,497

Delta Electronics (Jiangsu) Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated enterprise 4,739,083 3.93 - 1,387,455

Delta Electronics (Jiangsu) Ltd. Delta Electronics (Wuhu) Co., Ltd. Affiliated enterprise 111,391 3.68 - 37,488

Delta Electronics (Jiangsu) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 4,302,019 11.47 - 2,005,477

Delta Electronics (Shanghai) Co., Ltd. Delta Greentech (China) Co., Ltd. Affiliated enterprise 3,911,743 5.17 - 1,126,234

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics (Pingtan) Co., Ltd. Affiliated enterprise 715,590 3.37 - 248,523

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 124,729 7.96 - 124,729

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics (Thailand) Public Company Affiliated enterprise 155,169 3.97 - 48,027
Limited

279
 Amount collected
Balance as at Overdue receivables subsequent to the
Relationship with the December 31, 2023 Turnover balance date Allowance for
Creditor Counterparty counterparty (Note 1) rate Amount Action taken (Note 2) doubtful accounts
Delta Networks (Dongguan) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise $ 585,107 4.44 $ - $ 252,137

Delta Electronics (Wuhu) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 760,134 6.86 - 630,484

Delta Electronics (Chenzhou) Co., Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated enterprise 166,662 3.40 - 81,927

Delta Electronics (Chenzhou) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 900,062 5.16 - 669,865

Chenzhou Delta Technology Co., Ltd. Delta Electronics (Dongguan) Co., Ltd. Affiliated enterprise 424,496 5.38 2 138,586

Chenzhou Delta Technology Co., Ltd. Delta Electronics (Chenzhou) Co., Ltd. Affiliated enterprise 155,462 4.59 - 240

Delta Electronics (Chongqing) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 129,762 9.08 - 129,762

Cyntec Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 145,208 - - 145,208

Cyntec Co., Ltd. Delta Electronics, Inc. Ultimate parent 644,355 3.43 - 447,058
company
Cyntec Electronics (Suzhou) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 1,081,934 11.22 - 1,080,696

Cyntec Electronics (Wuhu) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 312,328 9.78 - 312,328

Delta Electronics India Pvt. Ltd. DELTA ELECTRONICS INDIA Affiliated enterprise 213,516 2.37 6,624 19,503
MANUFACTURING PRIVATE LIMITED

Delta Electronics India Pvt. Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 806,157 4.99 145 302,976

Delta Electronics (Japan), Inc. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 135,285 7.31 - 135,285

Delta Electronics (Myanmar) Co., Ltd. Delta Electronics (Thailand) Public Company Affiliated enterprise 101,454 0.84 - -
Limited
Delta Electronics (Netherlands) B.V. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 115,122 12.92 56,993 83,069

Delta Electronics (Netherlands) B.V. Delta Greentech Electronics Industry LLC Affiliated enterprise 393,845 1.59 74,638 95,447

DELTA ELECTRONICS (NORWAY) AS DELTA ELECTRONICS (France) SAS Affiliated enterprise 111,212 4.05 - 34,521

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Australia) Pty Ltd Affiliated enterprise 187,227 6.51 10 158,349

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Switzerland) AG Affiliated enterprise 724,334 3.35 - 412,925

280
 Amount collected
Balance as at Overdue receivables subsequent to the
Relationship with the December 31, 2023 Turnover balance date Allowance for
Creditor Counterparty counterparty (Note 1) rate Amount Action taken (Note 2) doubtful accounts
Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Dongguan) Co., Ltd. Affiliated enterprise $ 6,208,857 3.80 $ 1,340,922 $ 2,802,301

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated enterprise 1,580,870 10.01 - 1,580,870

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Wuhu) Co., Ltd. Affiliated enterprise 509,709 7.32 - 509,709

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Chenzhou) Co., Ltd. Affiliated enterprise 920,038 3.09 208,894 309,494

Delta Electronics Int'l (Singapore) Pte. Ltd. Cyntec Co., Ltd. Affiliated enterprise 1,159,709 2.79 2,311 146,922

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics Solutions (Spain) SL Affiliated enterprise 132,865 1.99 - 23,615

Delta Electronics Int'l (Singapore) Pte. Ltd. Digital Projection Limited Affiliated enterprise 105,332 1.98 - 64,489

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics India Pvt. Ltd. Affiliated enterprise 456,493 2.40 1,291 146,689

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Japan), Inc. Affiliated enterprise 552,407 4.33 808 300,264

Delta Electronics Int'l (Singapore) Pte. Ltd. Addtron Technology (Japan), Inc. Affiliated enterprise 138,429 3.36 - 54

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics International Mexico, S.A. Affiliated enterprise 135,749 2.30 - 47,616
de C.V.
Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Netherlands) B.V. Affiliated enterprise 533,857 5.82 - 380,439

Delta Electronics Int'l (Singapore) Pte. Ltd. DELTA ELECTRONICS (NORWAY) AS Affiliated enterprise 119,708 4.31 - 47,380

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Slovakia) s.r.o. Affiliated enterprise 301,664 5.03 9,831 105,947

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Thailand) Public Company Affiliated enterprise 897,652 5.42 51,734 639,462
Limited
Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics, Inc. Ultimate parent 7,207,937 2.67 286,288 2,486,849
company
Delta Electronics Int'l (Singapore) Pte. Ltd. DEI Logistics (USA) Corp. Affiliated enterprise 5,478,193 2.93 53,736 2,131,116

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Americas) Ltd. Affiliated enterprise 1,052,003 2.61 - 1,052,003

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (USA) Inc. Affiliated enterprise 895,659 1.73 - 530,456

Delta Electronics (Slovakia) s.r.o. Delta Electronics (Netherlands) B.V. Affiliated enterprise 335,879 3.21 - 219,458

Delta Electronics (Slovakia) s.r.o. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 1,082,408 3.53 802 879,251

281
 Amount collected
Balance as at Overdue receivables subsequent to the
Relationship with the December 31, 2023 Turnover balance date Allowance for
Creditor Counterparty counterparty (Note 1) rate Amount Action taken (Note 2) doubtful accounts
Delta Electronics (Slovakia) s.r.o. Eltek s.r.o. Affiliated enterprise $ 206,514 2.54 $ - $ 152,649

Delta Electronics (Slovakia) s.r.o. Delta Electronics (Thailand) Public Company Affiliated enterprise 308,310 4.47 - 225,907
Limited
Eltek s.r.o. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 534,207 4.41 7,257 344,230

Delta Electronics (Thailand) Public Company Delta Electronics India Pvt. Ltd. Affiliated enterprise 323,155 2.47 66,245 62,955
Limited
Delta Electronics (Thailand) Public Company Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 457,391 4.14 65,404 174,277
Limited
Delta Electronics (Thailand) Public Company DET Logistics (USA) Corporation Affiliated enterprise 13,334,830 2.75 2,572,076 4,259,092
Limited
Delta Electronics (Thailand) Public Company Delta Electronics (Americas) Ltd. Affiliated enterprise 177,450 3.31 205 145,664
Limited
Vivotek Inc. Vivotek USA, Inc. Affiliated enterprise 110,461 2.44 2,326 45,992

Delta Electronics (USA) Inc. Delta Electronics (Americas) Ltd. Affiliated enterprise 220,943 2.90 115 91,920

Delta International Holding Limited B.V. Delta Controls Inc. Affiliated enterprise 431,880 - - -

Delta International Holding Limited B.V. Delta Electronics (H.K.) Ltd. Affiliated enterprise 13,324,104 - - -

Delta International Holding Limited B.V. Delta Electronics (Netherlands) B.V. Affiliated enterprise 784,001 - - -

Delta International Holding Limited B.V. Amerlux, LLC Affiliated enterprise 829,035 - - -

Delta International Holding Limited B.V. Delta Electronics (USA) Inc. Affiliated enterprise 871,763 - - -

DET International Holding B.V. Delta Electronics India Pvt. Ltd. Affiliated enterprise 2,394,990 - - -

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics (Chongqing) Ltd. Affiliated enterprise 624,847 - - -

Delta Electronics (Shanghai) Co., Ltd. Cyntec Electronics (Wuhu) Co., Ltd. Affiliated enterprise 973,598 - 281 -

Delta Electronics (Wuhu) Co., Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated enterprise 1,554,492 - - -

Fairview Assets Ltd. Delta Controls Inc. Affiliated enterprise 1,573,277 - - -

Fairview Assets Ltd. Delta Electronics (H.K.) Ltd. Affiliated enterprise 9,806,291 - - -

282
 Amount collected
Balance as at Overdue receivables subsequent to the
Relationship with the December 31, 2023 Turnover balance date Allowance for
Creditor Counterparty counterparty (Note 1) rate Amount Action taken (Note 2) doubtful accounts
Fairview Assets Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise $ 11,829,812 - $ - $ -

Delta Energy Systems (Germany) GmbH Delta Energy Systems Property (Germany) Affiliated enterprise 368,683 - - -
GmbH
Delta Energy Systems (Germany) GmbH Delta Electronics (Slovakia) s.r.o. Affiliated enterprise 509,700 - - -

DELTA ELECTRONICS (NORWAY) AS Delta Electronics (Slovakia) s.r.o. Affiliated enterprise 407,760 - - -

DELTA ELECTRONICS (NORWAY) AS Eltek s.r.o. Affiliated enterprise 329,606 - - -

March Networks Corporation March Networks, Inc. Affiliated enterprise 271,567 4.58 - 211,740

Universal Instruments Corporation Universal Instruments Mfg.(Shenzhen) Co. Affiliated enterprise 292,235 0.90 - -
Ltd.
TB&C Outsert Center GmbH TB&C Holding GmbH Affiliated enterprise 292,183 - - -

Note 1: Including other receivables in excess of $100,000.

Note 2: The amount represents collections subsequent to December 31, 2023 up to February 29, 2024.

283
 Delta Electronics, Inc. and Subsidiaries
Significant inter-company transactions during the reporting period
Year ended December 31, 2023
Table 8 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Transaction
Percentage of
consolidated total
Number Relationship Transaction operating revenues or
(Note 1) Company name Counterparty (Note 2) General ledger account Amount (Note 7) terms total assets (Note 3)
0 Delta Electronics, Inc. Delta Electronics Int'l (Singapore) Pte. Ltd. Subsidiary Operating revenue $ 20,775,297 (Note 4) 5.18

0 Delta Electronics, Inc. Delta Electronics (Thailand) Public Subsidiary Operating revenue 6,014,760 (Note 4) 1.50
Company Limited
0 Delta Electronics, Inc. DEI Logistics (USA) Corp. Subsidiary Operating revenue 7,695,077 (Note 5) 1.92

0 Delta Electronics, Inc. Delta Electronics (Americas) Ltd. Subsidiary Operating revenue 4,278,039 (Note 4) 1.07

1 Delta Electronics (Dongguan) Co., Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated enterprise Operating revenue 5,556,153 (Note 4) 1.38

1 Delta Electronics (Dongguan) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise Operating revenue 35,329,642 (Note 4) 8.81

2 Delta Electronics (Jiangsu) Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated enterprise Operating revenue 18,493,532 (Note 4) 4.61

2 Delta Electronics (Jiangsu) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise Operating revenue 56,671,678 (Note 4) 14.12

3 Delta Electronics (Shanghai) Co., Ltd. Delta Greentech (China) Co., Ltd. Affiliated enterprise Operating revenue 13,953,780 (Note 4) 3.48

4 Delta Networks (Dongguan) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise Operating revenue 5,704,885 (Note 4) 1.42

5 Delta Electronics (Wuhu) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise Operating revenue 6,214,952 (Note 4) 1.55

6 Delta Electronics (Chenzhou) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise Operating revenue 5,007,614 (Note 4) 1.25

7 Cyntec Electronics (Suzhou) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise Operating revenue 12,430,157 (Note 4) 3.10

8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Dongguan) Co., Ltd. Affiliated enterprise Operating revenue 21,304,360 (Note 4) 5.31

284
 Transaction
Percentage of
consolidated total
Number Relationship Transaction operating revenues or
(Note 1) Company name Counterparty (Note 2) General ledger account Amount (Note 7) terms total assets (Note 3)
8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated enterprise Operating revenue $ 25,217,049 (Note 4) 6.28

8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Networks (Dongguan) Ltd. Affiliated enterprise Operating revenue 4,443,883 (Note 4) 1.11

8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Wuhu) Co., Ltd. Affiliated enterprise Operating revenue 4,775,056 (Note 4) 1.19

8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Thailand) Public Affiliated enterprise Operating revenue 4,060,815 (Note 4) 1.01
Company Limited
8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics, Inc. Ultimate parent Operating revenue 23,360,828 (Note 4) 5.82
company
8 Delta Electronics Int'l (Singapore) Pte. Ltd. DEI Logistics (USA) Corp. Affiliated enterprise Operating revenue 14,938,260 (Note 5) 3.72

9 Delta Electronics (Thailand) Public DET Logistics (USA) Corporation Affiliated enterprise Operating revenue 34,111,273 (Note 5) 8.50
Company Limited
2 Delta Electronics (Jiangsu) Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated enterprise Accounts receivable 4,739,083 (Note 4) 1.04

8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Dongguan) Co., Ltd. Affiliated enterprise Accounts receivable 6,208,857 (Note 4) 1.36

8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics, Inc. Ultimate parent Accounts receivable 7,207,937 (Note 4) 1.57
company
8 Delta Electronics Int'l (Singapore) Pte. Ltd. DEI Logistics (USA) Corp. Affiliated enterprise Accounts receivable 5,478,193 (Note 5) 1.20

9 Delta Electronics (Thailand) Public DET Logistics (USA) Corporation Affiliated enterprise Accounts receivable 13,334,830 (Note 5) 2.91
Company Limited
10 Delta International Holding Limited B.V. Delta Electronics (H.K.) Ltd. Affiliated enterprise Other receivables - 13,324,104 (Note 6) 2.91
related parties
11 Fairview Assets Ltd. Delta Electronics (H.K.) Ltd. Affiliated enterprise Other receivables - 9,806,291 (Note 6) 2.14
related parties

285
 Transaction
Percentage of
consolidated total
Number Relationship Transaction operating revenues or
(Note 1) Company name Counterparty (Note 2) General ledger account Amount (Note 7) terms total assets (Note 3)
11 Fairview Assets Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise Other receivables - $ 11,829,812 (Note 6) 2.58
related parties

Note 1: The numbers filled in for the transaction company in respect of inter-company transactions are as follows:

Note 2: Relationship between transaction company and counterparty is classified into the following three categories:
(1) Parent company to subsidiary.
(2) Subsidiary to parent company.
(3) Subsidiary to subsidiary.
Note 3: Regarding percentage of transaction amount to consolidated total operating revenues or total assets, it is computed based on period-end balance of transaction to consolidated total assets
for balance sheet accounts and based on accumulated transaction amount for the period to consolidated total operating revenues for income statement accounts.
Note 4: There is no similar transaction to compare with. It will follow the agreed price and transaction terms and all the credit terms are 70 days.
Note 5: It will follow the agreed price and transaction terms, and all the credit terms are 90 days after delivery.
Note 6: Lending of capital.
Note 7: The disclosure requirement for the above disclosed amounts is 1% of the consolidated total assets for balance sheet accounts and 1% of the consolidated total revenue for income statement accounts.

286
 Delta Electronics, Inc. and Subsidiaries
Information on investees
Year ended December 31, 2023
Table 9 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Initial investment amount Shares held as at December 31, 2023

Investment income
Net profit (loss) of the (loss) recognised
investee for the year by the Company for
Balance as at Balance as at Number of Ownership ended December 31, theyear ended
Investor Investee Location Main business activities December 31, 2023 December 31, 2022 shares (%) Book value 2023 December 31, 2023 Footnote
Delta Electronics, Inc. Delta International Holding Limited B.V. Netherlands Equity investments $ 8,922,118 $ 8,922,118 67,680,000 100.00 $ 82,861,679 $ 3,173,254 $ 3,066,008 (Note 6)

Delta Electronics, Inc. Delta Networks Holding Limited Cayman Equity investments - 29,582 1 100.00 2,425 95,099 95,099 (Note 6)
Islands

Delta Electronics, Inc. Delta Electronics (Netherlands) B.V. Netherlands Sales of power products, display solution 4,529,355 4,529,355 128,492,272 100.00 32,422,090 4,197,427 4,051,945 (Note 6)
products, electronic components, industrial
automation products and materials

Delta Electronics, Inc. Delta Electronics (Thailand) Public Thailand Manufacturing and exporting power supplies, 4,780,487 4,780,487 691,281,400 5.54 5,644,633 16,411,727 797,668 (Note 6 and
Company Limited other electronic parts and components Note 13)

Delta Electronics, Inc. Cyntec Co., Ltd. Taiwan Research, development, manufacturing and 12,067,931 12,067,931 2,341,204,333 100.00 38,066,466 1,892,247 1,902,180 (Note 6)
sales of film optic-electronic devices

Delta Electronics, Inc. DelBio Inc. Taiwan Manufacturing, wholesale and retail of 900,000 900,000 21,761,836 100.00 132,694 ( 48,342) ( 48,184) (Note 6)
medical equipment

Delta Electronics, Inc. Delta Electronics Capital Company Taiwan Equity investments 3,253,241 3,253,241 391,967,176 100.00 4,689,466 751,599 751,599 (Note 6)

Delta Electronics, Inc. Delta Electronics Int'l (Singapore) Pte. Singapore Research, development and sales of electronic 34,498 34,498 45,234,240 100.00 72,290,479 18,435,016 18,815,324 (Note 6)
Ltd. products

Delta Electronics, Inc. Delta America Ltd. U.S.A. Equity investments 103,065 103,065 2,100,000 10.26 236,688 544,382 49,106 (Note 6 and
Note 9)
Delta Electronics, Inc. Vivotek Inc. Taiwan Manufacturing and sales of video compression 4,471,534 4,471,534 49,128,058 56.75 4,445,816 489,271 219,367 (Note 6)
software and encoding, network video server,
webcam and its related components

Delta Electronics, Inc. Chunghwa SEA Holdings Taiwan Equity investments 8,800 8,800 880,000 44.00 8,164 ( 420) ( 185) (Note 6)

Delta Electronics, Inc. Delmind Inc. Taiwan Provide vertical add-on value solution 210,000 210,000 21,000,000 70.00 186,636 ( 13,118) ( 9,183) (Note 6)

Delta Electronics, Inc. Ancora Semiconductors Inc. Taiwan Gallium Nitride (GaN) technologies and 470,000 470,000 37,000,000 67.03 209,798 ( 288,804) ( 193,585) (Note 6 and
solutions Note 22)

Delta Electronics, Inc. Delta Energy Inc. Taiwan Energy technology services 200,000 - 20,000,000 100.00 188,277 ( 11,723) ( 11,723) (Note 6 and
Note 18)

Delta Electronics, Inc. Atrust Computer Corporation Taiwan Research, development, manufacturing and 950,259 - 28,825,000 55.02 949,711 36,673 ( 1,022) (Note 6 and
sales of Thin Client, Zero Client, server and Note 18)
management software
Delta Electronics, Inc. Power Forest Technology Corporation Taiwan IC design of power management 112,500 - 5,000,000 21.20 39,095 ( 147,785) ( 20,854) (Note 6, Note
18 and Note 26)

Atrust Computer APLUS COMPUTER (SAMOA) Samoa Equity investments 69,086 52,720 800,000 100.00 8,339 ( 4,022) ( 4,022) (Note 6 and
Corporation COMPANY LIMITED Note 23)

287
 Initial investment amount Shares held as at December 31, 2023
Investment income
Net profit (loss) of the (loss) recognised
investee for the year by the Company for
Balance as at Balance as at Number of Ownership ended December 31, theyear ended
Investor Investee Location Main business activities December 31, 2023 December 31, 2022 shares (%) Book value 2023 December 31, 2023 Footnote
Delta Electronics Capital Ancora Semiconductors Inc. Taiwan Gallium Nitride (GaN) technologies and $ 40,000 $ 40,000 4,000,000 7.25 $ 35,871 ($ 288,804) ($ 20,938) (Note 6 and
Company solutions Note 22)

Delta International Holding Delta Electronics (Thailand) Public Thailand Manufacturing and exporting power supplies, 12,612,233 13,227,014 1,830,611,700 14.68 15,392,128 16,411,727 2,254,337 (Note 1 and
Limited B.V. Company Limited other electronic parts and components Note 13)

Delta International Holding DEI Logistics (USA) Corp. U.S.A. Warehousing and logistics services 88,154 88,154 1,000,000 100.00 249,090 ( 176) ( 176) (Note 1)
Limited B.V.

Delta International Holding Delta Electronics (Japan), Inc. Japan Sales of power products, display solution 87,784 87,784 5,600 100.00 1,097,193 303,346 303,345 (Note 1)
Limited B.V. products, electronic components, industrial
automation products and materials
Delta International Holding Digital Projection International Limited Britain Equity investments 802,213 433,753 61,789,874 100.00 251,373 ( 17,615) ( 43,017) (Note 1)
Limited B.V.

Delta International Holding Delta Electronics (Switzerland) AG Switzerland Equity investments, research, development and 624,675 624,675 10,000 100.00 682,050 105,304 98,881 (Note 1)
Limited B.V. sales of electronic products

Delta International Holding DELTA ELECTRONICS HOLDING U.S.A. Equity investments 2,096,842 2,096,842 1,060,624 100.00 3,172,981 148,297 193,189 (Note 1)
Limited B.V. (USA) INC.

Delta International Holding DELTA ELECTRONICS (NORWAY) Norway Research, development and sales of power 15,265,528 15,265,528 93,531,101 100.00 11,293,319 371,997 ( 393,078) (Note 1)
Limited B.V. AS supplies and others

Delta International Holding Delta Controls Inc. Canada Provide solutions to building management and 2,302,875 2,302,875 75,000,000 100.00 2,908,792 47,502 47,502 (Note 1)
Limited B.V. control

Delta International Holding Delta Electronics Europe Ltd. Britain Repair centre and providing support services - 112,380 - - - - - (Note 1 and
Limited B.V. Note 19)

Delta International Holding March Networks Holdings Ltd. Canada Equity investments 3,824,656 3,824,656 10,000 100.00 3,642,529 43,447 ( 72,213) (Note 1)
Limited B.V.

Delta International Holding UI Acquisition Holding Co. U.S.A. Equity investments 2,867,847 2,867,847 334 100.00 2,588,670 ( 388,060) ( 431,925) (Note 1)
Limited B.V.

Delta International Holding Delta America Ltd. U.S.A. Equity investments 1,585,344 - 18,374,182 89.74 3,882,447 544,382 330,003 (Note 1, Note 9
Limited B.V. and Note 20)

Delta International Holding Trihedral Engineering Limited Canada Graphic control software and related 1,095,387 - 51,495 100.00 1,315,642 119,568 75,319 (Note 1 and
Limited B.V. engineering services Note 20)

Delta International Holding Amerlux, LLC U.S.A. Design and production of dedicated lighting 3,000,462 - - 100.00 3,086,387 83,285 21,595 (Note 1 and
Limited B.V. system and facilities Note 24)

Delta International Holding HY&T Investment Holding B.V. Netherlands Equity investments 5,189,129 - 750,232,500 100.00 5,054,938 ( 129,404) ( 181,639) (Note 1 and
Limited B.V. Note 18)

Delta America Ltd. Delta Electronics (Americas) Ltd. U.S.A. Sales of electronic components 231,954 231,954 250,000 100.00 2,184,859 486,082 486,082 (Note 15)

288
 Initial investment amount Shares held as at December 31, 2023
Investment income
Net profit (loss) of the (loss) recognised
investee for the year by the Company for
Balance as at Balance as at Number of Ownership ended December 31, theyear ended
Investor Investee Location Main business activities December 31, 2023 December 31, 2022 shares (%) Book value 2023 December 31, 2023 Footnote
Digital Projection Digital Projection Holdings Limited Britain Equity investments $ 610,953 $ 235,413 50,118,547 100.00 $ 41,140 $ (17,621) $ (17,621) (Note 17)
International Ltd.

Delta Electronics (H.K.) Delta Electronics International Mexico, Mexico Sales of power management system of 300,810 300,810 2,733,483 100.00 292,416 24,631 24,630 (Note 2)
Ltd. S.A. de C.V. industrial automation product and
telecommunications equipment
Delta Electronics Delta Electronics (H.K.) Ltd. Hong Kong Equity investments, operations management 10,083,433 10,083,433 2,549,297,600 100.00 24,907,793 3,534,190 3,534,190 (Note 8)
(Netherlands) B.V. and engineering services

Delta Electronics Boom Treasure Limited Hong Kong Equity investments - 2,675,047 - - - 70,804 ( 28,716) (Note 8 and
(Netherlands) B.V. Note 27)

Delta Electronics Drake Investment (HK) Limited Hong Kong Equity investments 8,326,162 5,284,832 1,081,056,306 100.00 7,877,325 158,779 154,050 (Note 8)
(Netherlands) B.V.

Delta Electronics Delta America Ltd. U.S.A. Equity investments - 1,585,344 - - - 544,382 157,613 (Note 8 and
(Netherlands) B.V. Note 20)

Delta Electronics Delta Greentech Electronics Industry Turkey Marketing and sales of electronic products 479,612 479,612 7,670,494 100.00 407,593 227,628 242,540 (Note 8)
(Netherlands) B.V. LLC

Delta Electronics DELTA GREENTECH (BRASIL) Brazil Manufacturing and sales of electronic products 218,313 218,313 4,315,657 100.00 183,038 11,920 11,920 (Note 8)
(Netherlands) B.V. LTDA.

Delta Electronics DELTA ELECTRONICS BRASIL Brazil Manufacturing and sales of electronic products 622,805 622,805 87,000,000 100.00 802,732 127,837 127,837 (Note 8)
(Netherlands) B.V. LTDA.

Delta Electronics Amerlux, LLC U.S.A. Design and production of dedicated lighting - 3,000,462 - - - 83,285 ( 25,902) (Note 8 and
(Netherlands) B.V. system and facilities Note 24)

Delta Electronics Delta Greentech SGP Pte. Ltd. Singapore Equity investments - 857,611 - - - 25,232 ( 5,726) (Note 8 and
(Netherlands) B.V. Note 25)

Delta Electronics Trihedral Engineering Limited Canada Graphic control software and related - 1,095,387 - - - 119,568 13,185 (Note 8 and
(Netherlands) B.V. engineering services Note 20)

Delta Electronics Int'l Delta Electronics (Thailand) Public Thailand Manufacturing and exporting power supplies, 36,737,053 36,737,053 5,344,793,060 42.85 46,237,661 16,411,727 6,351,179 (Note 7 and
(Singapore) Pte. Ltd. Company Limited other electronic parts and components Note 13)

Delta Electronics Int'l ELTEK POWER INCORPORATED Philippines Sales of power supplies and others 23,130 23,130 11,400,000 100.00 9,787 ( 29,577) ( 29,577) (Note 7)
(Singapore) Pte. Ltd.

Delta Electronics Int'l ELTEK POWER CO., LTD. Thailand Sales of power supplies and others - - 40,000 100.00 74,766 10,128 10,127 (Note 7)
(Singapore) Pte. Ltd.

Delta Electronics Int'l ELTEK POWER (CAMBODIA) LTD Cambodia Sales of power supplies and others - - 1,000 100.00 ( 19,235) - - (Note 7)
(Singapore) Pte. Ltd.

Delta Electronics Int'l ELTEK POWER (MALAYSIA) SDN. Malaysia Sales of power supplies and others 63,417 63,417 300,000 100.00 ( 70,118) ( 16,881) ( 16,881) (Note 7)
(Singapore) Pte. Ltd. BHD.

Delta Electronics Int'l Loy Tec electronics GmbH Austria Provide solutions to building management and 2,492,001 2,492,001 - 100.00 1,501,929 167,990 58,359 (Note 7)
(Singapore) Pte. Ltd. control

289
 Initial investment amount Shares held as at December 31, 2023
Investment income
Net profit (loss) of the (loss) recognised
investee for the year by the Company for
Balance as at Balance as at Number of Ownership ended December 31, theyear ended
Investor Investee Location Main business activities December 31, 2023 December 31, 2022 shares (%) Book value 2023 December 31, 2023 Footnote
Delta Networks Holding Delta Networks, Inc. Cayman Equity investments $ 3,623,640 $ 5,461,160 1 100.00 $ 1,785 $ 95,242 $ 95,242 (Note 3)
Limited Islands

Delta Networks, Inc. Delta Networks (HK) Limited Hong Kong Equity investments - 1,074,675 - - - 82,642 79,791 (Note 4 and
Note 28)

Cyntec Co., Ltd. Fairview Assets Ltd. Cayman Equity investments 1,116,521 1,116,521 32,740,062 100.00 33,665,366 1,525,210 1,525,210 (Note 5)
Islands

Cyntec Co., Ltd. Power Forest Technology Corporation Taiwan IC design of power management 347,387 347,387 15,432,000 65.45 86,671 ( 147,785) ( 120,917) (Note 5 and
Note 26)

Delta Electronics (Thailand) DET International Holding B.V. Netherlands Equity investments 8,520,795 8,520,795 264,357,330 100.00 8,032,496 589,895 581,268 (Note 16)
Public Company Limited

Delta Electronics (Thailand) Delta Green Industrial (Thailand) Co., Thailand Integration, sales, trading, installation and 185,750 185,750 20,600,000 100.00 36,361 ( 6,855) ( 6,855) (Note 16)
Public Company Limited Ltd. providing services of uninterruptible power
supply, photovoltaic inverter, electric cars
changer and data center

Delta Electronics (Thailand) Delta Energy Systems (Singapore) PTE. Singapore Equity investments, trading, management and 8,390,697 5,025,967 278,899,220 100.00 10,535,963 362,635 377,187 (Note 16)
Public Company Limited LTD. consultancy

Delta Electronics (Thailand) Delta Electronics (Vietnam) Company Vietnam Sales of electronic products 2,733 2,733 - 100.00 14,222 12,043 12,043 (Note 16)
Public Company Limited Limited

Delta Electronics (Thailand) DELTA ELECTRONICS INDIA India Manufacturing and marketing of electronic 999,123 153,183 252,610,999 100.00 894,048 ( 53,598) ( 53,598) (Note 16)
Public Company Limited MANUFACTURING PRIVATE products
LIMITED
Vivotek Inc. Otus Imaging, Inc. Taiwan Sales of webcams and related components - 44,294 - - - ( 5,290) ( 5,290) (Note 11 and
Note 21)
Vivotek Inc. Realwin Investment Inc. Taiwan Venture capital company 173,696 173,696 17,369,635 100.00 209,111 32,744 34,170 (Note 11)

Vivotek Inc. Vivotek Holdings, Inc. U.S.A. Holding company 31,555 31,555 1,050 100.00 358,559 26,354 26,354 (Note 11)

Vivotek Inc. Vivotek Netherlands B.V. Netherlands Sales service 11,418 11,418 3,000 100.00 19,186 3,330 3,330 (Note 11)

Vivotek Inc. Vivotek (Japan) Inc. Japan Sales service 17,939 17,939 6,600 100.00 21,529 635 635 (Note 11)

Vivotek Holdings, Inc. Vivotek USA, Inc. U.S.A. Sales of webcams and related components 28,480 28,480 10,000,000 100.00 408,245 26,370 26,370 (Note 10)

Realwin Investment Inc. Lidlight Inc. Taiwan Sales of lighting equipment 10,200 10,200 1,020,000 51.00 2,324 ( 2,982) ( 1,521) (Note 12)

Realwin Investment Inc. Aetek Inc. Taiwan Sales of webcams and related components 34,045 34,045 3,372,500 56.21 87,217 50,190 28,211 (Note 12)

Realwin Investment Inc. Wellstates Investment, LLC U.S.A. Investment and leasing of commercial real 34,859 34,859 - 100.00 65,596 5,245 5,245 (Note 12)
estate related business
Realwin Investment Inc. Skywatck INC. Taiwan Wholesale of electronic equipment 755 755 50,070 0.88 - - - (Note 14)

290
Note 6: The investment income /loss is net of the elimination of intercompany transactions.

Note 9: The Company indirectly acquired 89.74% equity shares of Delta America Ltd. through Delta Electronics (Netherlands) B.V. considering the 10.26% equity shares held by the Company, the total ownership was 100%.

Note 13: The Company indirectly acquired 14.68% and 42.85% equity shares of Delta Electronics (Thailand) Public Company Limited through Delta International Holding Limited B.V. and Delta Electronics Int'l (Singapore) Pte. Ltd., respectively.
Considering the 5.54% equity shares held by the Company, the total ownership was 63.07%. Delta Electronics (Thailand) Public Company Limited split stocks in April 2023.
The par value of each share was THB 1 before the stock split and is THB 0.1 after the stock split, and thus the number of shares increased tenfold.

Note 18: Established or invested during 2023.

Note 19: This company had been liquidated in January 2023.
Note 20: As the Group reorganised in March 2023, Delta Electronics (Netherlands) B.V. sold 89.74% and 100% of shares in its subsidiaries, Delta America Ltd. and Trihedral Engineering Limited, to Delta International Holding Limited B.V., respectively.
Note 21: The Group had disposed the investee in March 2023.
Note 22: The Company indirectly acquired 7.25% equity shares of Ancora Semiconductors Inc. through Delta Electronics Capital Company considering the 67.03% equity shares held by the Company, the total ownership was 74.28%.

Note 24: As the Group reorganised in May 2023, Delta Electronics (Netherlands) B.V. sold 100% of shares in its subsidiary, Amerlux, LLC to Delta International Holding Limited B.V..
Note 25: As the Group reorganised in June 2023, Delta Electronics (Netherlands) B.V. sold 100% of shares in its subsidiary, Delta Greentech SGP Pte. Ltd. to Boom Treasure Limited.
Note 26: The Company indirectly acquired 65.45% equity shares of Power Forest Technology Corporation through Cyntec Co., Ltd. Considering the 21.20% equity shares held by the Company, the total ownership was 86.65%.
Note 27: In July 2023, the Group adjusted the investment structure, and Delta Electronics (Netherlands) B.V. sold a 100% equity interest in its subsidiary, Boom Treasure Limited, to Drake Investment (HK) Limited.
Note 28: In December 2023, the Group adjusted the investment structure, and Delta Networks, Inc. sold a 100% equity interest in its subsidiary, Delta Networks (HK) Limited, to Delta Electronics (H.K.) Ltd..

291
 Delta Electronics, Inc. and Subsidiaries
Information on investments in Mainland China
Year ended December 31, 2023
Table 10 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Accumulated
Amount remitted from Taiwan to Accumulated amount of
Accumulated Mainland China/Amount amount of Net income Investment income Book value of investment
amount of remitted back to Taiwan for the remittance from (loss) of Ownership (loss) recognised investments in income
remittance from year ended December 31, 2023 Taiwan to investee for the held by the by the Company Mainland remitted back
Taiwan to Mainland Mainland China year ended Company for the year ended China as at to Taiwan as at
Investment China as at January Remitted to Remitted back as at December December 31, (direct or December 31, December 31, December 31,
Investee in Mainland China Main business activities Paid-in capital method 1, 2023 Mainland China to Taiwan 31, 2023 2023 indirect) 2023 2023 2023 Footnote
Delta Electronics (Dongguan) Co., Manufacturing and sales of transformer and $ 4,295,937 Invested by DHK $ 5,120,837 $ - $ - $ 5,120,837 $ 751,706 100.00 $ 829,277 $ 6,344,250 $ 296,611 (Note 3
Ltd. thermal products and Note
13)

Delta Electronics (Shanghai) Co., Product design, management consulting service 3,431,483 Invested by DHK 480,332 - - 480,332 1,406,941 100.00 1,388,165 8,105,417 - (Note 6
Ltd. and distribution of electronic products and Note
13)

Delta Electronics (Wuhu) Co., Ltd. Manufacturing and sales of LED light source, 4,114,470 Invested by DHK 525,401 - - 525,401 55,920 100.00 47,773 4,414,060 - (Note 7
power supplies and others and Note
13)

Delta Electronics (Chenzhou) Co., Manufacturing and sales of transformers 1,934,415 Invested by DHK 131,260 - - 131,260 156,156 100.00 ( 70,878) 2,164,744 - (Note 8
Ltd. and Note
13)

Delta Electronics (Jiangsu) Ltd. Manufacturing and sales of power supplies and 5,736,001 Invested by DHK 12,522,416 - - 12,522,416 1,766,642 100.00 1,724,338 13,212,543 - (Note 13)
transformers

Delta Green (Tianjin) Industries Manufacturing and sales of transformers 139,094 Invested by DHK 1,015,880 - - 1,015,880 ( 1,277) 100.00 181,499 89,371 - (Note 9
Co., Ltd. and Note
13)

Delta Electronics (Pingtan) Co., Wholesale and retail of electronic products and 129,789 Invested by DHK 159,503 - - 159,503 42,922 100.00 42,922 202,486 - (Note 13)
Ltd. energy-saving equipment

Delta Electronics (Beijing) Co., Installation of mechanic, electronic, - Invested by DHK 14,043 - - 14,043 558 - 558 - - (Note 10
Ltd. telecommunication and circuit equipment and Note
13)

Delta Electronics (Xi'an) Co., Ltd. Sales of computer, peripheral equipment and 237,946 Invested by DHK 259,717 - - 259,717 1,428 100.00 1,428 195,492 - (Note 13)
software

Cyntec Electronics (Suzhou) Co., Manufacturing and sales of electronic 7,154,265 Invested by DHK - 8,654,822 - 8,654,822 639,343 100.00 639,343 7,162,335 - (Note 13
Ltd. components and molds; sales of forgings and and Note
powder metallurgy products 19)

292
 Accumulated
Amount remitted from Taiwan to Accumulated amount of
Accumulated Mainland China/Amount amount of Net income Investment income Book value of investment
amount of remitted back to Taiwan for the remittance from (loss) of Ownership (loss) recognised investments in income
remittance from year ended December 31, 2023 Taiwan to investee for the held by the by the Company Mainland remitted back
Taiwan to Mainland Mainland China year ended Company for the year ended China as at to Taiwan as at
Investment China as at January Remitted to Remitted back as at December December 31, (direct or December 31, December 31, December 31,
Investee in Mainland China Main business activities Paid-in capital method 1, 2023 Mainland China to Taiwan 31, 2023 2023 indirect) 2023 2023 2023 Footnote
Delta Networks (Dongguan) Ltd. Manufacturing and sales of other radio-broadcast $ 1,397,078 Invested by DHK $ 1,372,708 $ - $ - $ 1,372,708 ($ 9,135) 100.00 ($ 8,583) $ 1,847,466 $ 675,510 (Note 5
receivers and the equipment in relation to and Note
broadband access networking system 13)

Delta Networks (Xiamen) Ltd. Operation of radio transmission apparatus, and 63,805 Invested by 21,494 - - 21,494 18,862 30.00 5,659 49,897 - (Note 14)
automatic data processing, reception, conversion DNHK
and transmission or regeneration of voice,
images or other data of the machine, including
switches and routers, with a special program to
control a computer or word processor with
memory business
DelBio (Wujiang) Co., Ltd. Manufacturing, wholesale and retail of medical 122,820 Invested by 122,820 - - 122,820 ( 11,870) 100.00 ( 11,870) 126,580 24,088 (Note 15)
equipment DelBio

Chenzhou Delta Technology Co., Manufacturing and sales of transformers 110,320 Invested by DCZ - - - - 60,238 100.00 60,439 377,078 - (Note 11)
Ltd.

Delta Energy Technology Puhuan Sales of solar power products, photovoltaic 43,696 Invested by - - - - ( 324) 96.32 ( 324) 31,304 - (Note 11)
(Shanghai) Co., Ltd. equipment and components, energy saving DPEC and DGC
management services

Guangzhou Amerlux Lighting Co., Wholesale of lighting fixture and decorative 14,585 Invested by 184,920 - - 184,920 59,522 100.00 59,522 78,407 - (Note 16)
Ltd. objects Amerlux Lighting
Hong Kong
Limited

Delta Greentech (China) Co., Ltd. Sales of uninterruptible power systems 2,457,333 Invested by Drake- 9,389,977 - - 9,389,977 346,807 95.91 348,042 5,892,510 - (Note 4
HK, Boom and and Note
DGSG 12)

Cyntec Electronics (WuHu) Co., Manufacturing and sales of electronic 1,504,545 Invested by DHK 921,150 - - 921,150 132,256 100.00 132,256 1,284,127 - (Note 13
Ltd. components, molds, forgings and powder and Note
metallurgy products 20)

Fujian Kaixin Construction Constructions of buildings and structures, 108,157 Invested by DPT - - - - 1,093 40.00 437 12,719 - (Note 11)
Engineering Co., Ltd. building decoration, municipal public works and
landscape, etc.

293
 Accumulated
Amount remitted from Taiwan to Accumulated amount of
Accumulated Mainland China/Amount amount of Net income Investment income Book value of investment
amount of remitted back to Taiwan for the remittance from (loss) of Ownership (loss) recognised investments in income
remittance from year ended December 31, 2023 Taiwan to investee for the held by the by the Company Mainland remitted back
Taiwan to Mainland Mainland China year ended Company for the year ended China as at to Taiwan as at
Investment China as at January Remitted to Remitted back as at December December 31, (direct or December 31, December 31, December 31,
Investee in Mainland China Main business activities Paid-in capital method 1, 2023 Mainland China to Taiwan 31, 2023 2023 indirect) 2023 2023 2023 Footnote
Delta Electronics (Chongqing) Ltd. Manufacturing electronic parts of new energy $ 1,074,675 Invested by DHK $ - $ - $ - $ - ($ 23,251) 100.00 ($ 23,672) $ 845,552 - (Note 13)
vehicles and parts for power of electronic
equipment

Universal Instruments Precision automation solutions 125,329 Invested by UI - - - - 14,072 100.00 14,072 98,629 - (Note 18)
Mfg.(Shenzhen) Co. Ltd. European Holdco.
Cooperatief U.A.

Note 1: The capital was translated based on the capital certified report of the investee companies into New Taiwan Dollars at the average exchange rate of RMB 7.09730 to US$1 and NTD 4.32629 to RMB$1.
Note 2: The accumulated remittance as at January 1, 2023, remitted or collected this period, accumulated remittance as at December 31, 2023 and investment income remitted back as at December 31, 2023 was translated into New Taiwan Dollars at the average
exchange rate of NTD 30.705 to US$1 at the balance sheet date.

Mainland China.

Also, the investment structure was approved by Investment Department, MOEA to be adjusted on March 24, 2023 but has not yet been completed as of December 31, 2023.

Note 10: This company had been deregistered in December 2023.

Note 11: According to the regulations of the Investment Department, MOEA, the reinvestment of the investee companies in Mainland China is not required to obtain the approval of the Investment Department, MOEA; thus the investment amounts are excluded from the

Note 12: Jointly invested through Drake Investment (HK) Limited, DELTA GREENTECH SGP Pte. Ltd. and Boom Treasure Limited.
Note 13: Invest through Delta Electronics (H.K.) Ltd.
Note 14: Invest through Delta Networks (HK) Limited.
Note 15: Invest through DelBio Inc.
Note 16: Invest through Amerlux Lighting Hong Kong Limited.
Note 17: The Company's investment income (loss) was recognised based on audited financial statements by the Company's CPA.
Note 18: Invest through UI European Holdco. Cooperatief U.A.
Note 19: On December 27, 2022, the company was approved by Investment Department, MOEA to purchase 100% equity of Cyntec Electronics (Suzhou) Co., Ltd held by CYNTEC HOLDING (HK) LIMITED through Delta Electronics (H.K.) Ltd., a subsidiary of the company.
The transfer was completed on February 28,2023 , and therefore included in the investment amount remitted by the Company in the current period.

294
 Investment amount approved by the Ceiling of investments in Mainland
Accumulated amount remitted from Taiwan to
Company name Investment Department of Ministry of China imposed by the Investment
Mainland China as at December 31, 2023
Economic Affairs (MOEA) Department of MOEA

Delta Electronics, Inc. $ 39,700,010 $ 39,700,010

(Notes 2 and 3)

Cyntec Co., Ltd. (Note 5) - 5,809,766 19,640,241

DelBio Inc. (Notes 4 and 6) 98,732 98,732 79,617

Note 1: The accumulated amount remitted out of Taiwan to Mainland China and investment amount approved by Investment Department, MOEA was translated into New Taiwan Dollars at the average exchange rate of NTD30.705 to US$1 at the balance sheet date.
Note 2: The investment income of US$22,000 thousand, US$18,000 thousand, US$10,509 thousand and US$14,351 thousand were remitted back on March 11, 2011, June 27, 2012, August 14, 2012, June 24, 2009 and December 29, 2005, respectively,

out of Taiwan to Mainland China.

There is no ceiling of investment amount.

Note 5: Cyntec Co., Ltd. remitted back the investment income of US$9,250 thousand on June 22, 2021 from the investee company in Mainland China, Cyntec Electronics (Suzhou) Co., Ltd., and was permitted by Investment Department, MOEA on August 4, 2021, which are deductible

CYNTEC HOLDING (HK) LIMITED through Delta Electronics (H.K.) Ltd., a subsidiary of the Company. The transfer process was completed on February 28, 2023. On July 18, 2023, the Company obtained the confirmation letter from Investment Department, MOEA,
however, as of December 31, 2023, the Company has not yet remitted back the transfer price to Taiwan, and the approved investment amount has not yet been revoked by Investment Department, MOEA.

accumulated amount remitted out of Taiwan to Mainland China.

295
 Delta Electronics, Inc. and Subsidiaries
Major shareholders information
December 31, 2023
Table 11
Shares
Name of major shareholders No. of shares held Ownership (%)
DEICO INTERNATIONAL LTD. 267,556,280 10.30%
DELTRON HOLDING LTD. 218,211,168 8.40%

296
▶ 7.2 A parent company only financial statement for the most recent fiscal year

DELTA ELECTRONICS, INC.

PARENT COMPANY ONLY FINANCIAL

STATEMENTS AND INDEPENDENT AUDITORS’

REPORT

DECEMBER 31, 2023 AND 2022

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

297
 INDEPENDENT AUDITORS’ REPORT

To the Board of Directors and Shareholders of Delta Electronics, Inc.

Opinion
We have audited the accompanying parent company only balance sheets of Delta Electronics, Inc.
(the “Company”) as at December 31, 2023 and 2022, and the related parent company only statements of
comprehensive income, of changes in equity and of cash flows for the years then ended, and notes to the
parent company only financial statements, including a summary of material accounting policies.
In our opinion, based on our audits and the reports of other auditors (refer to the Other matter
section), the accompanying parent company only financial statements present fairly, in all material
respects, the financial position of the Company as at December 31, 2023 and 2022, and its financial
performance and its cash flows for the years then ended in accordance with the Regulations Governing
the Preparation of Financial Reports by Securities Issuers.

Basis for opinion

We conducted our audits in accordance with the Regulations Governing Financial Statement Audit
and Attestation Engagements of Certified Public Accountants and 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 parent company only financial statements section of our report. We are independent
of the Company in accordance with the Norm of Professional Ethics for Certified Public Accountant of
the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. Based on our audits and the audit 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

Key audit matters are those matters that, in our professional judgment, were of most significance
in our audit of the Company’s 2023 parent company only financial statements. These matters were
addressed in the context of our audit of the parent company only financial statements as a whole and, in

298
forming our opinion thereon, we do not provide a separate opinion on these matters.
Key audit matters for the Company’s 2023 parent company only financial statements are stated as
follows:
Investments accounted for under equity method
Description
Refer to Note 4(37) in the consolidated financial statements for the accounting policy on business
combination. Refer to Notes 6(9) and (30) in the consolidated financial statements for the accounting
treatment of business combination and the allocation of purchase price.
In July 2022, the subsidiary of the Company, Delta International Holding Limited B.V., acquired
100% of the share capital of UI Acquisition Holding Co. for NT$2,797,346 thousand. The allocation of
the acquisition price was completed in the first quarter of 2023. The acquisition price and the amount of
intangible assets arising from the business acquisition are significant and the net fair value of identifiable
assets and liabilities and the allocation of intangible assets are based on management’s estimation and
subjective judgement. Thus, we considered the purchase price allocation for the above business combination
a key audit matter.
How our audit addressed the matter
We performed the following procedures for the above key audit matter:
A. Assessed the appropriateness and objectivity of the appraisers appointed by the management.
B. Reviewed identification of intangible assets, fair value measurement of identifiable intangible assets,
discount rates and the reasonableness of goodwill calculation in the purchase price allocation report
prepared by external experts.

Intangible assets (including subsidiaries) - Impairment assessment of goodwill

Refer to Note 4(21) for the accounting policies on impairment of non-financial assets. Refer to
Notes 5(2) and 6(9) for the impairment assessment of goodwill including critical accounting estimates.
As at December 31, 2023, goodwill arising from both the acquisitions of the Company in Cyntec
Co., Ltd. and Atrust Computer Corporation, and the acquisitions through the Company’s subsidiaries,
Delta International Holding Limited B.V.(DIH) and Delta Electronics (Netherlands) B.V.(DEN), in

299
DELTA ELECTRONICS (NORWAY) AS, Delta Controls Inc., Delta Greentech (China) Co., Ltd.,
March Network Holdings Ltd., Amerlux LLC, and Trihedral Engineering Limited amounted to
NT$18,324,143 thousand. As the balance of goodwill acquired from the merger is material, the
assumptions used in assessing goodwill impairment involves material accounting estimates which are
complex and have high uncertainty. Thus, we considered the impairment assessment of goodwill a key
audit matter.
How our audit addressed the matter
We performed the following procedures for the above key audit matter:
A. Understood the process of goodwill impairment assessment, obtained the assessment form provided
by management, and assessed whether the valuation models adopted by management are reasonable
for the industry, environment, and the valued assets of the Company.
B. Assessed the reasonableness of material assumptions, such as future cash flows, expected growth
rates, operating margin, and discount rates, by:
(a) Checking the setting of parameters of valuation models and calculation formulas;
(b) Confirming whether the expected future cash flows are in agreement with the budget provided
by the business units;
(c) Comparing the expected growth rate and operating margin with historical data, economic and
industrial forecast documents; and
(d) Comparing the discount rate with cost of capital assumptions of cash generating units and rates
of return of similar assets.
C. Performed a sensitivity analysis on the value of significant assumptions to assess the risk of
impairment of goodwill if there is a change in significant assumptions.

Other matter– Reference to the audits of other auditors

We did not audit the financial statements of certain investments accounted for under the equity
method and information on investees disclosed in Note 13. Therefore, our opinion expressed herein,
insofar as it relates to the amounts included in respect of these associates, is based solely on the reports
of the other auditors. The balance of these investments accounted for under the equity method amounted

300
to NT$38,977,447 thousand and NT$31,866,553 thousand, constituting 12.50% and 11.10% of total
assets as at December 31, 2023 and 2022, respectively, and the comprehensive income recognised from
associates and joint ventures accounted for under the equity method amounted to NT$10,683,648
thousand and NT$8,588,314 thousand, constituting 32.96% and 18.64% of the total comprehensive
income for the years then ended, respectively.

Responsibilities of management and those charged with governance for the parent
company only financial statements
Management is responsible for the preparation and fair presentation of the parent company only
financial statements in accordance with the Regulations Governing the Preparation of Financial Reports
by Securities Issuers, and for such internal control as management determines is necessary to enable the
preparation of the parent company only financial statements that are free from material misstatement,
whether due to fraud or error.
In preparing the parent company only financial statements, management is responsible for assessing
the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless management either intends to liquidate
the Company or to cease operations, or has no realistic alternative but to do so.
Those charged with governance, including the audit committee, are responsible for overseeing the
Company’s financial reporting process.

301
Auditors’ responsibilities for the audit of the parent company only financial
statements
Our objectives are to obtain reasonable assurance about whether the parent company only financial
statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an
auditors’ 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 parent company only financial
statements.
As part of an audit in accordance with the Standards on Auditing of the Republic of China, we
exercise professional judgment and professional skepticism throughout the audit. We also:
1. Identify and assess the risks of material misstatement of the parent company only 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 Company’s internal control;
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 Company’s ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required to draw attention in our
auditors’ report to the related disclosures in the parent company only financial statements or, if such

302
 disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence
obtained up to the date of our auditors’ report. However, future events or conditions may cause the
Company to cease to continue as a going concern;
5. Evaluate the overall presentation, structure and content of the parent company only financial
statements, including the disclosures, and whether the parent company only 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 to express an opinion on the parent company only financial
statements. We are responsible for the direction, supervision and performance of the 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 the parent company only financial statements of the current
year and are therefore the key audit matters. We describe these matters in our auditors’ report unless law
or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we
determine that a matter should not be communicated in our report because the adverse consequences of
doing so would reasonably be expected to outweigh the public interest benefits of such communication.

303
 The parent company only financial statements of Delta Electronics, Inc. as at and for the year ended
December 31, 2023 expressed in US dollars are presented solely for the convenience of the reader and
were translated from the financial statements expressed in New Taiwan dollars using the exchange rate
of $30.705 to US$1.00 at December 31, 2023. This basis of translation is not in accordance with the
Regulations Governing the Preparation of Financial Reports by Securities Issuers.

Hsiao, Chun-Yuan Chou, Chien-Hung

for and on behalf of PricewaterhouseCoopers, Taiwan

February 29, 2024

------------------------------------------------------------------------------------------------------------------------------------------------------------
The accompanying parent company only financial statements are not intended to present the financial position and
results of operations and cash flows in accordance with accounting principles generally accepted in countries and
jurisdictions other than the Republic of China. The standards, procedures and practices in the Republic of China
governing the audit of such financial statements may differ from those generally accepted in countries and jurisdictions
other than the Republic of China. Accordingly, the accompanying parent company only financial statements and
independent auditors’ report are not intended for use by those who are not informed about the accounting principles or
auditing standards generally accepted in the Republic of China, and their applications in practice.
As the financial statements are the responsibility of the management, PricewaterhouseCoopers, Taiwan cannot accept
any liability for the use of, or reliance on, the English translation or for any errors or misunderstandings that may derive
from the translation.

304
 DELTA ELECTRONICS, INC.
PARENT COMPANY ONLY BALANCE SHEETS
DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF DOLLARS)

US Dollars New Taiwan Dollars

Assets Notes December 31, 2023 December 31, 2023 December 31, 2022
Current assets
Cash and cash equivalents 6(1) $ 71,196 $ 2,186,076 $ 1,908,576
Financial assets at fair value through 6(2)
profit or loss - current 72,266 2,218,935 -
Financial assets at amortised cost – 8
current 6,120 187,900 109,726
Contract assets - current 6(19) 151,361 4,647,541 4,224,981
Notes receivable, net 6(4) 808 24,813 24,120
Accounts receivable, net 6(4) 208,944 6,415,624 9,348,724

Accounts receivable - related parties, 7

net 286,926 8,810,050 8,847,460
Other receivables 8,719 267,728 126,404
Other receivables - related parties 7 12,999 399,130 795,114
Inventories 6(5) 260,612 8,002,074 9,278,702
Prepayments 35,367 1,085,955 1,312,705
Other current assets 49 1,510 4,237

Total current assets 1,115,367 34,247,336 35,980,749

Non-current assets
Financial assets at fair value through 6(2)
profit or loss - non-current 1,301 39,957 933,824
Financial assets at fair value through 6(3)
other comprehensive income -
non-current 44,038 1,352,185 1,343,614

Contract assets - non-current 6(19) 12,216 375,084 315,074

Investments accounted for under the
equity method 6(6) 7,893,637 242,374,117 217,804,951
Property, plant and equipment 6(7) 981,538 30,138,122 27,563,418
Right-of-use assets 6(8) 18,556 569,757 562,898
Intangible assets 6(9) 27,898 856,630 1,026,018
Deferred income tax assets 6(26) 40,705 1,249,847 945,264
Other non-current assets 6(4)(10) 18,109 556,044 582,168

Total non-current assets 9,037,998 277,511,743 251,077,229

Total assets $ 10,153,365 $ 311,759,079 $ 287,057,978

(Continued)

305
 DELTA ELECTRONICS, INC.
PARENT COMPANY ONLY BALANCE SHEETS
DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF DOLLARS)

US Dollars New Taiwan Dollars

Liabilities and Equity Notes December 31, 2023 December 31, 2023 December 31, 2022
Current liabilities
Contract liabilities - current 6(19) $ 83,298 $ 2,557,660 $ 2,562,573
Accounts payable 130,560 4,008,846 6,217,212
Accounts payable - related parties 7 254,731 7,821,531 10,982,225
Other payables 6(12) 627,007 19,252,244 15,901,462
Other payables - related parties 7 6,026 185,029 127,790
Current income tax liabilities 79,918 2,453,879 2,234,481
Long-term liabilities, current portion 6(14) 81,097 2,490,095 -
Other current liabilities 21,492 659,913 484,074
Total current liabilities 1,284,129 39,429,197 38,509,817
Non-current liabilities
Bonds payable 6(13) 947,728 29,100,000 11,600,000
Long-term borrowings 6(14) 713,153 21,897,353 32,216,656
Deferred income tax liabilities 6(26) 617,091 18,947,786 14,720,638
Lease liabilities - non-current 16,061 493,150 513,313
Other non-current liabilities 6(15) 88,840 2,727,815 2,708,647
Total non-current liabilities 2,382,873 73,166,104 61,759,254
Total liabilities 3,667,002 112,595,301 100,269,071
Equity
Share capital 6(16)

Common stock 845,967 25,975,433 25,975,433

Capital surplus 6(17)
Capital surplus 1,779,417 54,636,991 49,321,767
Retained earnings 6(18)

Legal reserve 1,161,851 35,674,625 32,386,305

Special reserve 96,684 2,968,678 16,166,722
Unappropriated retained earnings 2,732,577 83,903,789 65,907,358
Other equity interest
Other equity interest ( 130,133) ( 3,995,738) ( 2,968,678)
Total equity 6,486,363 199,163,778 186,788,907
Significant contingent liabilities and
9
unrecorded contract commitments
Significant events after the balance
11
sheet date
Total liabilities and equity $ 10,153,365 $ 311,759,079 $ 287,057,978

The accompanying notes are an integral part of these parent company only financial statements.

306
 DELTA ELECTRONICS, INC.
PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME
YEARS ENDED DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF DOLLARS, EXCEPT EARNINGS PER SHARE DATA)

US Dollars New Taiwan Dollars

Items Notes 2023 2023 2022
Operating revenue 6(19) and 7 $ 2,829,071 $ 86,866,626 $ 82,637,878
Operating costs 6(5)(24)
(25) and 7 ( 1,878,428) ( 57,677,145) ( 52,919,921)
Gross profit 950,643 29,189,481 29,717,957
Operating expenses 6(24)(25)
Selling expenses ( 48,022) ( 1,474,529) ( 1,352,580)
General and administrative expenses ( 106,900) ( 3,282,352) ( 3,298,161)
Research and development expenses ( 578,741) ( 17,770,231) ( 15,744,908)
Expected credit impairment (loss) gain 12(2) 155 4,760 ( 36,872)
Total operating expenses ( 733,508) ( 22,522,352) ( 20,432,521)
Operating profit 217,135 6,667,129 9,285,436
Non-operating income and expenses
Interest income 6(20) 1,628 50,002 17,441
Other income 6(21) 40,404 1,240,608 1,060,832
Other gains and losses 6(22) 44,263 1,359,097 ( 297,475)
Finance costs 6(23) ( 28,477) ( 874,398) ( 478,732)
Share of profit of subsidiaries, associates and joint
ventures accounted for under the equity method 6(6) 959,569 29,463,562 27,502,684
Total non-operating income and expenses 1,017,387 31,238,871 27,804,750
Profit before income tax 1,234,522 37,906,000 37,090,186
Income tax expense 6(26) ( 146,990) ( 4,513,335) ( 4,424,458)
Profit for the year $ 1,087,532 $ 33,392,665 $ 32,665,728
Other comprehensive income (loss)
Components of other comprehensive income (loss)
that will not be reclassified to profit or loss
(Loss) gain on remeasurements of defined benefit 6(15)
plans ($ 406) ( $ 12,475) $ 10,565
Unrealised (loss) gain on valuation of equity 6(3)
investment at fair value through other
comprehensive income ( 150) ( 4,589) 207,974
Share of other comprehensive income (loss) of
subsidiaries, associates and joint ventures
accounted for under the equity method that will
not be reclassified to profit or loss ( 424) ( 13,015) 209,666
Income tax related to components of other 6(26)
comprehensive income that will not be
reclassified to profit or loss 81 2,495 ( 2,113)
Other comprehensive income (loss) that will not
be reclassified to profit or loss ( 899) ( 27,584) 426,092
Components of other comprehensive income (loss)
that will be reclassified to profit or loss
Financial statements translation differences of
foreign operations ( 15,676) ( 481,330) 16,339,507
Share of other comprehensive income (loss) of
subsidiaries, associates and joint ventures
accounted for under the equity method that will
be reclassified to profit or loss ( 16,254) ( 499,085) ( 2,538,309)
Income tax relating to the components of other 6(26)
comprehensive income that will be reclassified to
profit or loss 856 26,277 ( 811,127)
Other comprehensive income (loss) that will be
reclassified to profit or loss ( 31,074) ( 954,138) 12,990,071
Other comprehensive income (loss) for the year ($ 31,973) ( $ 981,722) $ 13,416,163
Total comprehensive income for the year $ 1,055,559 $ 32,410,943 $ 46,081,891

Earnings per share

Basic earnings per share 6(27) $ 0.42 $ 12.86 $ 12.58
Diluted earnings per share 6(27) $ 0.42 $ 12.80 $ 12.52

The accompanying notes are an integral part of these parent company only financial statements.

307
 DELTA ELECTRONICS, INC.
PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY
YEARS ENDED DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF DOLLARS)

Retained earnings Other equity interest

Unrealised gains
(losses) on
financial assets
Financial measured at fair
statements value through
translation other Gains (losses) on
Share capital - Unappropriated differences of comprehensive hedging
Notes common stock Capital surplus Legal reserve Special reserve retained earnings foreign operations income instruments Total equity

2022 New Taiwan Dollars

Balance at January 1, 2022 $ 25,975,433 $ 49,114,151 $ 29,697,752 $ 12,543,208 $ 53,622,701 ($ 15,520,287 ) ($ 776,353 ) $ 129,917 $ 154,786,522
Profit for the year - - - - 32,665,728 - - - 32,665,728
Other comprehensive income for the year - - - - 209,626 12,990,071 216,466 - 13,416,163
Total comprehensive income for the year - - - - 32,875,354 12,990,071 216,466 - 46,081,891
Distribution of 2021 earnings 6(18)
Legal reserve - - 2,688,553 - ( 2,688,553 ) - - - -
Special reserve - - - 3,623,514 ( 3,623,514 ) - - - -
Cash dividends - - - - ( 14,286,479 ) - - - ( 14,286,479 )
Changes in ownership interests in subsidiaries - 192,294 - - - - - - 192,294
Difference between consideration and carrying amount of subsidiaries acquired
or disposed - 15,322 - - ( 643 ) - - - 14,679
Disposal of equity investment at fair value through other comprehensive
income by subsidiaries - - - - 8,492 - ( 8,492 ) - -
Balance at December 31, 2022 $ 25,975,433 $ 49,321,767 $ 32,386,305 $ 16,166,722 $ 65,907,358 ($ 2,530,216 ) ($ 568,379 ) $ 129,917 $ 186,788,907
2023 New Taiwan Dollars
Balance at January 1, 2023 $ 25,975,433 $ 49,321,767 $ 32,386,305 $ 16,166,722 $ 65,907,358 ($ 2,530,216 ) ($ 568,379 ) $ 129,917 $ 186,788,907
Profit for the year - - - - 33,392,665 - - - 33,392,665
Other comprehensive income (loss) for the year - - - - ( 144,952 ) ( 954,138 ) 287,639 ( 170,271 ) ( 981,722 )
Total comprehensive income (loss) for the year - - - - 33,247,713 ( 954,138 ) 287,639 ( 170,271 ) 32,410,943
Distribution of 2022 earnings 6(18)
Legal reserve - - 3,288,320 - ( 3,288,320 ) - - - -
Special reserve - - - ( 13,198,044 ) 13,198,044 - - - -
Cash dividends - - - - ( 25,559,802 ) - - - ( 25,559,802 )
Changes in ownership interests in subsidiaries - 31,584 - - - - - - 31,584
Difference between consideration and carrying amount of subsidiaries acquired
or disposed - 5,283,640 - - ( 507 ) 38,742 - - 5,321,875
Adjustment of profit and loss basis of hedging instruments - - - - - - - 170,271 170,271
Disposal of equity investment at fair value through other comprehensive
income by subsidiaries - - - - 399,303 - ( 399,303 ) - -
Balance at December 31, 2023 $ 25,975,433 $ 54,636,991 $ 35,674,625 $ 2,968,678 $ 83,903,789 ($ 3,445,612 ) ($ 680,043 ) $ 129,917 $ 199,163,778

(Continued)

308
 DELTA ELECTRONICS, INC.
PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY
YEARS ENDED DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF DOLLARS)

Retained earnings Other equity interest

Unrealised gains
(losses) on
financial assets
Financial measured at fair
statements value through
translation other Gains (losses) on
Share capital - Unappropriated differences of comprehensive hedging
Notes common stock Capital surplus Legal reserve Special reserve retained earnings foreign operations income instruments Total equity

2023 US Dollars
Balance at January 1, 2023 $ 845,967 $ 1,606,310 $ 1,054,757 $ 526,518 $ 2,146,470 ($ 82,404 ) ($ 18,511 ) $ 4,231 $ 6,083,338
Profit for the year - - - - 1,087,532 - - - 1,087,532
Other comprehensive income (loss) for the year - - - - ( 4,721 ) ( 31,075 ) 9,368 ( 5,545 ) ( 31,973 )
Total comprehensive income (loss) for the year - - - - 1,082,811 ( 31,075 ) 9,368 ( 5,545 ) 1,055,559
Distribution of 2022 earnings 6(18)
Legal reserve - - 107,094 - ( 107,094 ) - - - -
Special reserve - - - ( 429,834 ) 429,834 - - - -
Cash dividends - - - - ( 832,431 ) - - - ( 832,431 )
Changes in ownership interests in subsidiaries - 1,029 - - - - - - 1,029
Difference between consideration and carrying amount of subsidiaries acquired
or disposed - 172,078 - - ( 17 ) 1,262 - - 173,323
Adjustment of profit and loss basis of hedging instruments - - - - - - - 5,545 5,545
Disposal of equity investment at fair value through other comprehensive
income by subsidiaries - - - - 13,004 - ( 13,004 ) - -
Balance at December 31, 2023 $ 845,967 $ 1,779,417 $ 1,161,851 $ 96,684 $ 2,732,577 ($ 112,217 ) ($ 22,147 ) $ 4,231 $ 6,486,363

The accompanying notes are an integral part of these parent company only financial statements.

309
 DELTA ELECTRONICS, INC.
PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF DOLLARS)

US Dollars New Taiwan Dollars

Notes 2023 2023 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax for the year $ 1,234,522 $ 37,906,000 $ 37,090,186
Adjustments
Income and expenses having no effect on cash
flows
Depreciation 6(7)(8)(24) 79,946 2,454,757 2,138,222
Amortization 6(9)(24) 15,674 481,272 579,598
Expected credit impairment (gain) loss 12(2) ( 155 ) ( 4,760 ) 36,872
Interest expense 6(23) 28,477 874,398 478,732
Interest income 6(20) ( 1,628 ) ( 50,002 ) ( 17,441 )
Dividend income 6(21) ( 2,149 ) ( 65,996 ) ( 56,716 )
Share of profit of subsidiaries, associates and
joint ventures accounted for under the equity
method 6(6) ( 959,569 ) ( 29,463,562 ) ( 27,502,684 )
Net (gain) loss on financial assets at fair value
through profit or loss 6(2)(22) ( 43,155 ) ( 1,325,069 ) 6,645
Gain on disposal of property, plant and
equipment 6(22) ( 103 ) ( 3,163 ) ( 518,296 )
Loss on right-of-use assets surrender in
advance - - 16
Impairment loss on non-financial assets 6(9)(22) 205 6,287 417,151
Changes in assets/liabilities relating to
operating activities
Net changes in assets relating to operating
activities
Contract assets ( 15,716 ) ( 482,570 ) 292,766
Notes receivable ( 23 ) ( 693 ) ( 3,609 )
Accounts receivable 95,797 2,941,453 ( 3,848,312 )
Accounts receivable - related parties 1,218 37,410 32,193
Change in overdue receivables - - 7,147
Other receivables ( 4,559 ) ( 139,991 ) ( 47,153 )
Other receivables - related parties 12,896 395,984 ( 368,986 )
Inventories 41,577 1,276,628 ( 2,182,983 )
Prepayments 7,385 226,750 124,988
Other current assets 89 2,727 ( 1,907 )
Other non-current assets 532 16,327 1,671
Net changes in liabilities relating to operating
activities
Contract liabilities ( 160 ) ( 4,913 ) 107,047
Accounts payable ( 71,922 ) ( 2,208,366 ) 1,919,843
Accounts payable - related parties ( 102,937 ) ( 3,160,694 ) 3,740,199
Other payables 108,658 3,336,341 2,288,318
Other payables - related parties 1,864 57,239 ( 94,049 )
Other current liabilities 4,633 142,241 77,763
Other non-current liabilities 3,456 106,130 783,745
Cash inflow generated from operations 434,853 13,352,165 15,480,966
Interest received 1,585 48,669 17,990
Dividends received 397,686 12,210,954 6,853,812
Interest paid ( 28,007 ) ( 859,957 ) ( 455,831 )
Income taxes paid ( 54,146 ) ( 1,662,564 ) ( 1,627,508 )
Net cash flows from operating activities 751,971 23,089,267 20,269,429
(Continued)

310
 DELTA ELECTRONICS, INC.
PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF DOLLARS)

US Dollars New Taiwan Dollars

Notes 2023 2023 2022
CASH FLOWS FROM INVESTING ACTIVITIES
Decrease in financial assets at amortised cost $ 1,362 $ 41,831 $ 10,608
Proceeds from capital withdrawal liquidation of
financial assets at fair value through profit or
loss - - 2,479
Acquisition of financial assets at fair value
through other comprehensive income ( 429 ) ( 13,160 ) -
Acquisition of investments accounted for under
the equity method ( 41,126 ) ( 1,262,759 ) ( 790,182 )
Proceeds from capital reduction of investments
accounted for under the equity method 1,831 56,216 -
Acquisition of property, plant and equipment 6(7) ( 161,359 ) ( 4,954,535 ) ( 3,481,711 )
Proceeds from disposal of property, plant and
equipment 406 12,451 774,219
Acquisition of intangible assets 6(9) ( 10,362 ) ( 318,171 ) ( 457,196 )
Cash inflow due to business combinations 6(28) - - 417,829
Proceeds from disposal of financial assets at fair
value through profit or loss - - 4,774
Increase in other non-current assets ( 3,370 ) ( 103,477 ) ( 24,469 )
Net cash flows used in investing activities ( 213,047 ) ( 6,541,604 ) ( 3,543,649 )
CASH FLOWS FROM FINANCING ACTIVITIES
Decrease in short-term borrowings 6(29) - - ( 1,400,000 )
Proceeds from long-term debt 2,151,852 66,072,601 61,464,441
Repayment of long-term debt ( 2,406,833 ) ( 73,901,809 ) ( 72,551,565 )
Lease principal repayment ( 2,529 ) ( 77,638 ) ( 33,230 )
Cash dividends paid 6(18) ( 832,431 ) ( 25,559,802 ) ( 14,286,479 )
Issuance of bonds payable 6(13)(29) 569,940 17,500,000 11,600,000
Decrease in refundable deposits ( 9,885 ) ( 303,515 ) ( 767,461 )
Net cash flows used in financing activities ( 529,886 ) ( 16,270,163 ) ( 15,974,294 )
Net increase in cash and cash equivalents 9,038 277,500 751,486
Cash and cash equivalents at beginning of year 62,158 1,908,576 1,157,090
Cash and cash equivalents at end of year $ 71,196 $ 2,186,076 $ 1,908,576

The accompanying notes are an integral part of these parent company only financial statements.

311
 DELTA ELECTRONICS, INC.
NOTES TO THE PARENT COMPANY ONLY FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS,
EXCEPT AS OTHERWISE INDICATED)

1. HISTORY AND ORGANISATION

Delta Electronics, Inc. (the Company) was incorporated as a company limited by shares under the
provisions of the Company Law of the Republic of China (R.O.C.). The Company is the global leader in
power and thermal management solutions and is primarily engaged in the research and development,
design, manufacturing and sales of electronic control systems, DC brushless fans, thermal system, and
miniaturization key component, industrial automation products, digital display products, communication
products, consumer electronics products, energy-saving lighting application, renewable energy
applications, EV charging, energy technology services and consulting services of building management
and control solutions, etc. The Company’s mission statement, to provide innovative, clean and energy-
efficient solutions for a better tomorrow, focuses on addressing key environmental issues such as global
climate change. With the concern for the environment, the Company continues to develop innovative
energy-efficient products and solutions. In recent years, the Company has transformed from a product
provider towards a solution provider and the Company’s business is segregated into power electronics
business, automation business, and infrastructure business.
2. THE DATE OF AUTHORISATION FOR ISSUANCE OF THE PARENT COMPANY ONLY
FINANCIAL STATEMENTS AND PROCEDURES FOR AUTHORISATION
These parent company only financial statements were authorised for issuance by the Board of Directors
on February 29, 2024.
3. APPLICATION OF NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS
(1) Effect of the adoption of new issuances of or amendments to International Financial Reporting
Standards (“IFRS®”) Accounting Standards that came into effect as endorsed by the Financial
Supervisory Commission (“FSC”)
New standards, interpretations and amendments endorsed by the FSC and became effective from
2023 are as follows:

312
 Effective date by
International Accounting
New Standards, Interpretations and Amendments Standards Board
Amendments to IAS 1, ‘Disclosure of accounting policies’ January 1, 2023
Amendments to IAS 8, ‘Definition of accounting estimates’ January 1, 2023
Amendments to IAS 12, ‘Deferred tax related to assets and liabilities January 1, 2023
arising from a single transaction’
Amendments to IAS 12, ‘International tax reform - pillar two model May 23, 2023
rules’

Except for the following, the above standards and interpretations have no significant impact to the
Company’s financial condition and financial performance based on the Company’s assessment. The
related information and quantitative impact are provided in Note 6(6):
Amendments to IAS 12, ‘International tax reform - pillar two model rules’
The amendments give companies temporary relief from accounting for deferred income taxes arising
from the tax law enacted or substantively enacted to implement the Pillar Two model rules published
by the Organisation for Economic Co-operation and Development (OECD). An entity shall neither
recognise nor disclose information about deferred tax assets and liabilities related to Pillar Two
income taxes.
(2) Effect of new issuances of or amendments to IFRS Accounting Standards as endorsed by the FSC but
not yet adopted by the Company
New standards, interpretations and amendments endorsed by the FSC and will become effective from
2024 are as follows:

Effective date by
International Accounting
New Standards, Interpretations and Amendments Standards Board
Amendments to IFRS 16, ‘Lease liability in a sale and leaseback’ January 1, 2024
Amendments to IAS 1, ‘Classification of liabilities as current or non- January 1, 2024
current’
Amendments to IAS 1, ‘Non-current liabilities with covenants’ January 1, 2024
Amendments to IAS 7 and IFRS 7, ‘Supplier finance arrangements’ January 1, 2024

The above standards and interpretations have no significant impact to the Company’s financial
condition and financial performance based on the Company’s assessment.
(3) Effect of IFRS Accounting Standards issued by IASB but not yet endorsed by the FSC
New standards, interpretations and amendments issued by IASB but not yet included in the IFRS
Accounting Standards as endorsed by the FSC are as follows:

313
 Effective date by
International Accounting
New Standards, Interpretations and Amendments Standards Board
Amendments to IFRS 10 and IAS 28, ‘Sale or contribution of assets To be determined by
between an investor and its associate or joint venture’ International Accounting
Standards Board
IFRS 17, ‘Insurance contracts’ January 1, 2023
Amendments to IFRS 17, 'Insurance contracts' January 1, 2023
Amendment to IFRS 17, 'Initial application of IFRS 17 and IFRS 9 – January 1, 2023
comparative information'
Amendments to IAS 21, ‘Lack of exchangeability’ January 1, 2025
The above standards and interpretations have no significant impact to the Company’s financial
condition and financial performance based on the Company’s assessment.
4. SUMMARY OF MATERIAL ACCOUNTING POLICIES
The principal accounting policies applied in the preparation of these parent company only financial
statements are set out below. These policies have been consistently applied to all the periods presented,
unless otherwise stated.
(1) Compliance statement
The parent company only financial statements of the Company have been prepared in accordance
with the ''Regulations Governing the Preparation of Financial Reports by Securities Issuers''.
(2) Basis of preparation
A. Except for the following items, the parent company only financial statements have been prepared
under the historical cost convention:
(a) Financial assets at fair value through profit or loss.
(b) Financial assets at fair value through other comprehensive income.
(c) Defined benefit liabilities recognised based on the net amount of pension fund assets less
present value of defined benefit obligation.
B. The preparation of financial statements in conformity with International Financial Reporting
Standards, International Accounting Standards, IFRIC® Interpretations, and SIC® Interpretations
that came into effect as endorsed by the FSC (collectively referred herein as the “IFRSs”) requires
the use of certain critical accounting estimates. It also requires management to exercise its
judgment in the process of applying the Company’s accounting policies. The areas involving a
higher degree of judgment or complexity, or areas where assumptions and estimates are significant
to the parent company only financial statements are disclosed in Note 5.
(3) Foreign currency translation
Items included in the parent company only financial statements are measured using the currency of
the primary economic environment in which the Company operates (the “functional currency”). The
parent company only financial statements are presented in New Taiwan Dollars, which is the
Company’s functional and presentation currency.

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A. Foreign currency transactions and balances
(a) Foreign currency transactions are translated into the functional currency using the exchange
rates prevailing at the dates of the transactions or valuation where items are remeasured.
Foreign exchange gains and losses resulting from the settlement of such transactions are
recognised in profit or loss in the period in which they arise, except when deferred in other
comprehensive income as qualifying cash flow hedges.
(b) Monetary assets and liabilities denominated in foreign currencies at the period end are
retranslated at the exchange rates prevailing at the balance sheet date. Exchange differences
arising upon re-translation at the balance sheet date are recognised in profit or loss.
(c) Non-monetary assets and liabilities denominated in foreign currencies held at fair value
through profit or loss are re-translated at the exchange rates prevailing at the balance sheet
date; their translation differences are recognised in profit or loss as part of the fair value gain
or loss. Non-monetary assets and liabilities denominated in foreign currencies held at fair
value through other comprehensive income are re-translated at the exchange rates prevailing
at the balance sheet date; their translation differences are recognised in other comprehensive
income. However, non-monetary assets and liabilities denominated in foreign currencies that
are not measured at fair value are translated using the historical exchange rates at the dates of
the initial transactions.
(d) All foreign exchange gains and losses are presented in the statement of comprehensive income
within ‘other gains and losses’.
B. Translation of foreign operations
(a) The operating results and financial position of all the group entities, associates and joint
arrangements that have a functional currency different from the presentation currency are
translated into the presentation currency as follows:
i. Assets and liabilities for each balance sheet presented are translated at the closing
exchange rate at the date of that balance sheet;
ii. Income and expenses for each statement of comprehensive income are translated at
average exchange rates of that period; and
iii. All resulting exchange differences are recognised in other comprehensive income.
(b) When the foreign operation partially disposed of or sold is an associate or joint arrangements,
exchange differences that were recorded in other comprehensive income are proportionately
reclassified to profit or loss as part of the gain or loss on sale. In addition, even the Company
still retains partial interest in the former foreign associate or joint arrangements after losing
significant influence over the former foreign associate, or losing joint control of the former
joint arrangements, such transactions should be accounted for as disposal of all interest in these
foreign operations.
(c) When the foreign operation partially disposed of or sold is a subsidiary, cumulative exchange
differences that were recorded in other comprehensive income are proportionately transferred
to the non-controlling interest in this foreign operation. In addition, even the Company still
retains partial interest in the former foreign subsidiary after losing control of the former foreign

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 subsidiary, such transactions should be accounted for as disposal of all interest in the foreign
operation.
(d) Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated
as assets and liabilities of the foreign entity and translated at the closing exchange rates at the
balance sheet date.
(4) Classification of current and non-current items
A. Assets that meet one of the following criteria are classified as current assets; otherwise they are
classified as non-current assets:
(a) Assets arising from operating activities that are expected to be realised, or are intended to be
sold or consumed within the normal operating cycle;
(b) Assets held mainly for trading purposes;
(c) Assets that are expected to be realised within 12 months from the balance sheet date;
(d) Cash and cash equivalents, excluding restricted cash and cash equivalents and those that are
to be exchanged or used to settle liabilities more than 12 months after the balance sheet date.
B. Liabilities that meet one of the following criteria are classified as current liabilities; otherwise they
are classified as non-current liabilities:
(a) Liabilities that are expected to be settled within the normal operating cycle;
(b) Liabilities arising mainly from trading activities;
(c) Liabilities that are to be settled within 12 months from the balance sheet date;
(d) Liabilities for which the repayment date cannot be extended unconditionally to more than
twelve months after the balance sheet date. Terms of a liability that could, at the option of the
counterparty, result in its settlement by the issue of equity instruments do not affect its
classification.
(5) Financial assets at fair value through profit or loss
A. Financial assets at fair value through profit or loss are financial assets that are not measured at
amortised cost or fair value through other comprehensive income. Financial assets at amortised
cost or fair value through other comprehensive income are designated as at fair value through
profit or loss at initial recognition when they eliminate or significantly reduce a measurement or
recognition inconsistency.
B. On a regular way purchase or sale basis, financial assets at fair value through profit or loss are
recognised and derecognised using trade date accounting.
C. At initial recognition, the Company measures the financial assets at fair value and recognises the
transaction costs in profit or loss. The Company subsequently measures the financial assets at fair
value, and recognises the gain or loss in profit or loss.
D. The Company recognises the dividend income when the right to receive payment is established,
future economic benefits associated with the dividend will flow to the Company and the amount
of the dividend can be measured reliably.

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(6) Financial assets at fair value through other comprehensive income
A. Financial assets at fair value through other comprehensive income comprise equity securities
which are not held for trading, and for which the Company has made an irrevocable election at
initial recognition to recognise changes in fair value in other comprehensive income.
B. On a regular way purchase or sale basis, financial assets at fair value through other comprehensive
income are recognised and derecognised using trade date accounting.
C. They are initially recognised at fair value plus transaction costs. These financial assets are
subsequently remeasured and stated at fair value. The changes in fair value of equity investments
that were recognised in other comprehensive income are reclassified to retained earnings and are
not reclassified to profit or loss following the derecognition of the investment. Dividends are
recognised as revenue when the right to receive payment is established, future economic benefits
associated with the dividend will flow to the Company and the amount of the dividend can be
measured reliably.
(7) Financial assets at amortised cost
A. Financial assets at amortised cost are those that meet all of the following criteria:
(a) The objective of the Company’s business model is achieved by collecting contractual cash
flows.
(b) The assets’ contractual cash flows represent solely payments of principal and interest.
B. The Company’s time deposits which do not fall under cash equivalents are those with a short
maturity period and are measured at initial investment amount as the effect of discounting is
immaterial.
(8) Accounts and notes receivable
A. Accounts and notes receivable entitle the Company a legal right to receive consideration in
exchange for transferred goods or rendered services.
B. The short-term accounts and notes receivable without bearing interest are subsequently measured
at initial invoice amount as the effect of discounting is immaterial.
(9) Impairment of financial assets
For financial assets at amortised cost including accounts receivable or contract assets that have a
significant financing component, at each reporting date, the Company recognises the impairment
provision for 12 months expected credit losses if there has not been a significant increase in credit
risk since initial recognition or recognises the impairment provision for the lifetime expected credit
losses (ECLs) if such credit risk has increased since initial recognition after taking into consideration
all reasonable and verifiable information that includes forecasts.
(10) Derecognition of financial assets
The Company derecognises a financial asset when one of the following conditions is met:
A. The contractual rights to receive the cash flows from the financial asset expire.
B. The contractual rights to receive cash flows of the financial asset have been transferred and the
Company has transferred substantially all risks and rewards of ownership of the financial asset.
C. The contractual rights to receive cash flows of the financial asset have been transferred; however,

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 the Company has not retained control of the financial asset.
(11) Inventories
Inventories are stated at the lower of cost and net realisable value. The cost of finished goods and
work in process comprises raw materials, direct labour, other director costs and related production
overheads (allocated based on normal operating capacity). It excludes borrowing costs. The item by
item approach is used in applying the lower of cost and net realisable value. Net realisable value is
the estimated selling price in the ordinary course of business, less the estimated cost of completion
and applicable variable selling expenses.
(12) Non-current assets held for sale
Non-current assets are classified as assets held for sale when their carrying amount is to be recovered
principally through a sale transaction rather than through continuing use, and a sale is considered
highly probable. They are stated at the lower of carrying amount and fair value less costs to sell.
(13) Investments accounted for under equity method /subsidiaries and associates
A. Subsidiaries are all entities controlled by the Company (including structured entries). The
Company controls an entity when the Company is exposed, or has rights, to variable returns from
its involvement with the entity and has the ability to affect those returns through its power over
the entity.
B. Unrealised gains or losses on transactions between the Company and subsidiaries have been
eliminated. The accounting policies of the subsidiaries are consistent with the policies adopted
by the Company.
C. The Company’s share of its subsidiaries’ post-acquisition profits or losses is recognised in profit
or loss, and its share of post-acquisition movements in other comprehensive income is recognised
in other comprehensive income. When the Company’s share of losses in a subsidiary equals or
exceeds its interest in the subsidiary, the Company continues to recognise losses proportionate
to its ownership.
D. If changes in the Company’s shares in subsidiaries do not result in loss in control (transactions
with non-controlling interest), transactions shall be considered as equity transactions, which are
transactions between owners. Difference of adjustment of non-controlling interest and fair value
of consideration paid or received is recognised in equity.
E. When the Company loses control of a subsidiary, the Company remeasures any investment
retained in the former subsidiary at its fair value. That fair value is regarded as the fair value on
initial recognition of a financial asset or the cost on initial recognition of the associate or joint
venture. Any difference between fair value and carrying amount is recognised in profit or loss.
All amounts previously recognised in other comprehensive income in relation to the subsidiary
are reclassified to profit or loss on the same basis as would be required if the related assets or
liabilities were disposed of. That is, when the Company loses control of a subsidiary, all gains or
losses previously recognised in other comprehensive income in relation to the subsidiary should
be reclassified from equity to profit or loss, if such gains or losses would be reclassified to profit
or loss when the related assets or liabilities are disposed of.
F. Associates are all entities over which the Company has significant influence but not control. In

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 general, it is presumed that the investor has significant influence, if an investor holds, directly or
indirectly 20 percent or more of the voting power of the investee. Investments in associates are
accounted for using the equity method and are initially recognised at cost. The Company’s
investments in associates include goodwill identified on acquisition, net of any accumulated
impairment loss arising through subsequent assessments.
G. The Company’s share of its associates’ post-acquisition profits or losses is recognised in profit
or loss, and its share of post-acquisition movements in other comprehensive income is recognised
in other comprehensive income. When the Company’s share of losses in an associate equals or
exceeds its interest in the associate (including any other unsecured receivables), the Company
does not recognise further losses, unless it has incurred legal or constructive obligations or made
payments on behalf of the associate.
H. When changes in an associate’s equity do not arise from profit or loss or other comprehensive
income of the associate and such changes do not affect the Company’s ownership percentage of
the associate, the Company recognises the Company’s share of the change in equity of the
associate in ‘capital surplus’ in proportion to its ownership.
I. Unrealised gains on transactions between the Company and its associates are eliminated to the
extent of the Company’s interest in the associates. Unrealised losses are also eliminated unless
the transaction provides evidence of an impairment of the asset transferred. Accounting policies
of associates are consistent with the policies adopted by the Company.
J. In the case that an associate issues new shares and the Company does not subscribe or acquire
new shares proportionately, which results in a change in the Comapny’s ownership percentage
of the associate but maintains significant influence on the associate, then ‘capital surplus’ and
‘investments accounted for under the equity method’ shall be adjusted for the increase or
decrease of its share of equity interest. If the above condition causes a decrease in the Company’s
ownership percentage of the associate, in addition to the above adjustment, the amounts
previously recognised in other comprehensive income in relation to the associate are reclassified
to profit or loss proportionately on the same basis as would be required if the relevant assets or
liabilities were disposed of.
K. Upon loss of significant influence over an associate, the Company remeasures any investment
retained in the former associate at its fair value. Any difference between fair value and carrying
amount is recognised in profit or loss.
L. When the Company disposes its investment in an associate and loses significant influence over
this associate, the amounts previously recognised in other comprehensive income in relation to
the associate, are reclassified to profit or loss, on the same basis as would be required if the
relevant assets or liabilities were disposed of. If it retains significant influence over this associate,
the amounts previously recognised in other comprehensive income in relation to the associate
are reclassified to profit or loss proportionately in accordance with the aforementioned approach.
M. Pursuant to the Rules Governing the Preparation of Financial Statements by Securities Issuers,
profit (loss) of the current period and other comprehensive income in the parent company only
financial statements shall equal to the amount attributable to owners of the parent in the
consolidated financial statements. Owners’ equity in the parent company only financial

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 statements shall equal to equity attributable to owners of the parent in the consolidated financial
statements.
(14) Cash surrender value of life insurance
Premium paid for life insurance with saving nature belonging to cash surrender value is recognised
as a deduction to insurance premium expense in current period and is added to the carrying amount
of cash surrender value.
(15) Property, plant and equipment
A. Property, plant and equipment are initially recorded at cost. Borrowing costs incurred during the
construction period are capitalised.
B. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset,
as appropriate, only when it is probable that future economic benefits associated with the item
will flow to the Company and the cost of the item can be measured reliably. The carrying amount
of the replaced part is derecognised. All other repairs and maintenance are charged to profit or
loss during the financial period in which they are incurred.
C. Land is not depreciated. Other property, plant and equipment apply cost model and are
depreciated using the straight-line method to allocate their cost over their estimated useful lives
(lease allocates its cost over contractual period). Each part of an item of property, plant, and
equipment with a cost that is significant in relation to the total cost of the item must be
depreciated separately.
D. The asset’s residual values, useful lives and depreciation methods are reviewed, and adjusted if
appropriate, at each financial year-end. If expectations for the asset’s residual values and useful
lives differ from previous estimates or the patterns of consumption of the asset’s future economic
benefits embodied in the assets have changed significantly, any change is accounted for as a
change in estimate under IAS 8, ‘Accounting Policies, Changes in Accounting Estimates and
Errors’, from the date of the change. The estimated useful lives of property, plant and equipment
are 2~15 years except for buildings, the estimated life of which is 5~55 years.
(16) Leasing arrangements (lessee)－right-of-use assets/lease liabilities
A. Leases are recognised as a right-of-use asset and a corresponding lease liability at the date at
which the leased asset is available for use by the Company. For short-term leases or leases of
low-value assets, lease payments are recognised as an expense on a straight-line basis over the
lease term.
B. Lease liabilities include the net present value of the remaining lease payments at the
commencement date, discounted using the incremental borrowing interest rate. Lease payments
are fixed payments, less any lease incentives receivable. The Company subsequently measures
the lease liability at amortised cost using the interest method and recognises interest expense
over the lease term. The lease liability is remeasured and the amount of remeasurement is
recognised as an adjustment to the right-of-use asset when there are changes in the lease term or
lease payments and such changes do not arise from contract modifications.

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 C. At the commencement date, the right-of-use asset is stated at cost comprising the following:
(a) The amount of the initial measurement of lease liability; and
(b) Any lease payments made at or before the commencement date.
The right-of-use asset is measured subsequently using the cost model and is depreciated from the
commencement date to the earlier of the end of the asset’s useful life or the end of the lease term.
When the lease liability is remeasured, the amount of remeasurement is recognised as an
adjustment to the right-of-use asset.
(17) Intangible assets
A. Trademarks
(a) Separately acquired trademarks with finite useful lives are stated at acquisition cost and are
amortised on a straight-line basis over their estimated useful lives.
(b) Certain trademarks which are assessed to generate net cash inflows and have indefinite useful
lives are recorded at actual cost. These are not amortised and instead, are tested for
impairment annually.
B. Goodwill arising from a short-form merger with the subsidiary is recognised pursuant to Article
19 of Enterprises Mergers and Acquisitions Act.
C. Intangible assets other than trademarks and goodwill, mainly computer software and patents, are
amortised on a straight-line basis over their estimated useful lives, which are determined based
on economic useful lives or contract terms.
(18) Impairment of non-financial assets
A. The Company assesses at each balance sheet date the recoverable amounts of those assets where
there is an indication that they are impaired. An impairment loss is recognised for the amount by
which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is
the higher of an asset’s fair value less costs to sell or value-in-use. When the circumstances or
reasons for recognising impairment loss for an asset in prior years no longer exist or diminish,
the impairment loss is reversed. The increased carrying amount due to reversal should not be
more than what the depreciated or amortised historical cost would have been if the impairment
had not been recognised.
B. The recoverable amounts of goodwill, intangible assets with an indefinite useful life and
intangible assets that have not yet been available for use should be evaluated periodically. An
impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its
recoverable amount. Impairment loss of goodwill previously recognised in profit or loss shall
not be reversed in the following years.
C. For the purpose of impairment testing, goodwill acquired in a business combination is allocated
to each of the cash-generating units, or groups of cash-generating units, that is/are expected to
benefit from the synergies of the business combination. Each unit or group of units to which the
goodwill is allocated represents the lowest level within the entity at which the goodwill is
monitored for internal management purposes. Goodwill is monitored at the operating segment
level.

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(19) Borrowings
Borrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are
subsequently stated at amortised cost; any difference between the proceeds (net of transaction costs)
and the redemption value is recognised in profit or loss over the period of the borrowings using the
effective interest method.
(20) Accounts payable
Accounts payable are obligations to pay for goods or services that have been acquired in the ordinary
course of business from suppliers. They are recognised initially at fair value and subsequently
measured at amortised cost using the effective interest method. However, short-term accounts
payable without bearing interest are subsequently measured at initial invoice amount as the effect
of discounting is immaterial, they are measured subsequently at original invoice amount.
(21) Derecognition of financial liabilities
A financial liability is derecognised when the obligation specified in the contract is discharged,
cancelled or expired.
(22) Offsetting financial instruments
Financial assets and liabilities are offset and reported in the net amount in the balance sheet when
there is a legally enforceable right to offset the recognised amounts and there is an intention to settle
on a net basis or realise the asset and settle the liability simultaneously.
(23) Bonds payable
Ordinary corporate bonds issued by the company are initially recognised at fair value less transaction
costs. Any difference between the proceeds (net of transaction costs) and the redemption value is
presented as an addition to or deduction from bonds payable, which is amortised to profit or loss
over the period of bond circulation using the effective interest method as an adjustment to ‘finance
costs’.
(24) Employee benefits
A. Short-term employee benefits
Short-term employee benefits are measured at the undiscounted amount of the benefits expected
to be paid in respect of service rendered by employees in a period and should be recognised as
expense in that period when the employees render service.
B. Pensions
(a) Defined contribution plan
For the defined contribution plan, the contributions are recognised as pension expense when
they are due on an accrual basis. Prepaid contributions are recognised as an asset to the extent
of a cash refund or a reduction in the future payments.
(b) Defined benefit plan
i. Net obligation under a defined benefit plan is defined as the present value of an amount
of pension benefits that employees will receive on retirement for their services with the
Company in current period or prior periods. The liability recognised in the balance sheet
in respect of defined benefit pension plan is the present value of the defined benefit

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 obligation at the balance sheet date less the fair value of plan assets. The net defined
benefit obligation is calculated annually by independent actuaries using the projected unit
credit method. The rate used to discount is determined by using interest rates of
government bonds (at the balance sheet date) of a currency and term consistent with the
currency and term of the employment benefit obligations.
ii. Remeasurements arising on defined benefit plan are recognised in other comprehensive
income in the period in which they arise and are recorded as retained earnings.
iii. Past service costs are recognised immediately in profit or loss.
C. Employees’ compensation and directors’ and supervisors’ remuneration
Employees’ compensation and directors’ and supervisors’ remuneration are recognised as
expense and liability, provided that such recognition is required under legal or constructive
obligation and those amounts can be reliably estimated. Any difference between the resolved
amounts and the subsequently actual distributed amounts is accounted for as changes in estimates.
If employee compensation is paid by shares, the Company calculates the number of shares based
on the closing price at the previous day of the board meeting resolution.
(25) Income tax
A. The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or
loss, except to the extent that it relates to items recognised in other comprehensive income or
items recognised directly in equity, in which cases the tax is recognised in other comprehensive
income or equity.
B. The current income tax charge is calculated on the basis of the tax laws enacted or substantively
enacted at the balance sheet date. Management periodically evaluates positions taken in tax
returns with respect to situations in accordance with applicable tax regulations. It establishes
provisions where appropriate based on the amounts expected to be paid to the tax authorities. An
additional tax is levied on the unappropriated retained earnings and is recorded as income tax
expense in the year the stockholders resolve to retain the earnings.
C. Deferred tax is recognised, using the balance sheet liability method, on temporary differences
arising between the tax bases of assets and liabilities and their carrying amounts in the parent
company only financial statements. However, the deferred tax is not accounted for if it arises
from initial recognition of goodwill or of an asset or liability in a transaction other than a business
combination that at the time of the transaction affects neither accounting nor taxable profit or
loss. Deferred tax is provided on temporary differences arising on investments in subsidiaries,
except where the timing of the reversal of the temporary difference is controlled by the Company
and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred
tax is determined using tax rates (and laws) that have been enacted or substantially enacted by
the balance sheet date and are expected to apply when the related deferred tax asset is realised or
the deferred tax liability is settled.
D. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit
will be available against which the temporary differences can be utilised. At each balance sheet
date, unrecognised and recognised deferred tax assets are reassessed.

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 E. Current income tax assets and liabilities are offset and the net amount is reported in the balance
sheet when there is a legally enforceable right to offset the recognised amounts and there is an
intention to settle on a net basis or realise the asset and settle the liability simultaneously.
(26) Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new
shares or stock options are shown in equity as a deduction, net of tax, from the proceeds.
(27) Dividends
Dividends are recorded in the Company’s financial statements in the period in which they are
resolved by the Company’s shareholders. Cash dividends are recorded as liabilities.
(28) Revenue recognition
A. Sales of goods
(a) The Company manufactures and sells power supply of computers, information technology,
vehicles and electrical machines, automation equipment and related components products.
Sales are recognised when control of the products has transferred, being when the products
are delivered to the customer, the customer has full discretion over the channel and price to
sell the products, and there is no unfulfilled obligation that could affect the customers’
acceptance of the products. Delivery occurs when the products have been shipped to the
specific location, the risks of obsolescence and loss have been transferred to the customer,
and either the customer has accepted the products in accordance with the sales contract, or
the Company has objective evidence that all criteria for acceptance have been satisfied.
(b) Sales revenue is recognised based on the price specified in the contract, net of the estimated
discounts and allowances. Accumulated experience is used to estimate and provide for the
sales discounts and allowances, using the expected value method, and revenue is only
recognised to the extent that it is highly probable that a significant reversal will not occur.
The estimation is subject to an assessment at each reporting date. A refund liability is
recognised for expected sales discounts and allowances payable to customers in relation to
sales made until the end of the reporting period. Sales are usually made with a credit term of
30 to 90 days after acceptance. As the time interval between the transfer of committed goods
or service and the payment of customer does not exceed one year, the Company does not
adjust the transaction price to reflect the time value of money.
(c) The Company’s obligation to provide a refund for faulty products under the standard warranty
terms is recognised as a provision.
(d) A receivable is recognised when the control of goods is transferred as this is the point in time
that the consideration is unconditional because only the passage of time is required before
the payment is due.
B. Installation of software and module services
(a) The Company provides installation of some software and module services. Revenue from
providing services is recognised in the accounting period in which the services are rendered.
For fixed-price contracts, revenue is recognised based on the actual service provided to the
end of the reporting period as a proportion of the total services to be provided. This is

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 determined based on the actual cost spent relative to the total expected cost. The customer
pays at the time specified in the payment schedule. If the services rendered exceed the
payment, a contract asset is recognised. If the payments exceed the services rendered, a
contract liability is recognised.
(b) Some contracts include sales and installation services of equipment. The equipment and the
installation services provided by the Company are not distinct and are identified to be one
performance obligation satisfied over time since the installation services involve significant
customisation and modification.
(c) The Company’s estimate about revenue, costs and progress towards complete satisfaction of
a performance obligation is subject to a revision whenever there is a change in circumstances.
Any increase or decrease in revenue or costs due to an estimate revision is reflected in profit
or loss during the period when the management becomes aware of the changes in
circumstances.
C. Revenue from licencing intellectual property
The Company is entitled to collect usage-based royalty in return for licencing patented
technologies and intellectual property rights to subsidiaries under agreements. The Company
recognises revenue when the performance obligation has been satisfied and the subsequent usage
occurs.
D. Incremental costs of obtaining a contract
Given that the contractual period lasts less than one year, the Company recognises the
incremental costs of obtaining a contract as an expense when incurred although the Company
expects to recover those costs.
(29) Government grants
Government grants are recognised at their fair value only when there is reasonable assurance that
the Company will comply with any conditions attached to the grants and the grants will be received.
Government grants are recognised in profit or loss on a systematic basis over the periods in which
the Company recognises expenses for the related costs for which the grants are intended to
compensate or Government grants related to property, plant and equipment are presented by
deducting the grants from the asset’s carrying amount and are amortised to profit or loss over the
estimated useful lives of the related assets as reduced depreciation expenses.
5. CRITICAL ACCOUNTING JUDGMENTS, ESTIMATES AND KEY SOURCES OF ASSUMPTION
UNCERTAINTY
The preparation of these parent company only financial statements requires management to make critical
judgments in applying the Company’s accounting policies and make critical assumptions and estimates
concerning future events. Assumptions and estimates may differ from the actual results and are
continually evaluated and adjusted based on historical experience and other factors. The Company has
no critical accounting judgments in applying accounting policies; and the critical accounting estimates
and assumptions uncertainty information is addressed below:

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 Critical accounting estimates and assumptions
The Company makes estimates and assumptions based on the expectation of future events that are
believed to be reasonable under the circumstances at the end of the reporting period. The resulting
accounting estimates might be different from the related actual results. The estimates and assumptions
that have a significant risk of causing a material adjustment to the carrying amounts of assets and
liabilities within the next financial year are addressed below:
Impairment assessment of investments accounted for using equity method
The Company assesses the impairment of an investment accounted for using equity method as soon as
there is any indication that it might have been impaired and its carrying amount cannot be recovered.
The Company assesses the recoverable amounts of an investment accounted for under the equity method
based on the present value of the Company’s share of expected future cash flows of the investee, and
analyses the reasonableness of related assumptions.
6. DETAILS OF MATERIAL ACCOUNTS
(1) Cash and cash equivalents

December 31, 2023 December 31, 2022

Cash on hand and revolving funds $ 2,715 $ 3,043
Checking accounts and demand deposits 2,183,361 1,905,533
$ 2,186,076 $ 1,908,576

A. The Company associates with a variety of financial institutions all with high credit quality to
disperse credit risk, so it expects that the probability of counterparty default is remote.
B. Details of the Company’s cash and cash equivalents pledged to others as collateral are provided
in Note 8.
(2) Financial assets at fair value through profit or loss
Items December 31, 2023 December 31, 2022
Current items:
Financial assets mandatorily measured at fair
value through profit or loss
Listed stocks $ 900,000 $ -
Valuation adjustment 1,318,935 -
$ 2,218,935 $ -

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 Items December 31, 2023 December 31, 2022
Non-current items:
Financial assets mandatorily measured at fair
value through profit or loss
Listed stocks $ 30,843 $ 30,843
Unlisted stocks 9,151 9,151
Hybrid instrument-convertible bonds - 900,000
39,994 939,994
Valuation adjustment ( 37) ( 6,170)
$ 39,957 $ 933,824
A. Amounts recognised in profit or loss in relation to financial assets and liabilities at fair value
through profit or loss are listed below:
Years ended December 31,
2023 2022
Financial assets mandatorily measured at fair
value through profit or loss
Equity instruments $ 1,325,069 ($ 6,645)

B. The Company has no financial assets at fair value through profit or loss pledged to others.
(3) Financial assets at fair value through other comprehensive income

Items December 31, 2023 December 31, 2022

Non-current items:
Equity instruments
Listed stocks $ 1,608,699 $ 1,608,699
Unlisted stocks 177,204 164,044
1,785,903 1,772,743
Valuation adjustment ( 433,718) ( 429,129)
$ 1,352,185 $ 1,343,614

A. The Company has elected to classify investments that are considered to be strategic investments
as financial assets at fair value through other comprehensive income. The fair value of such
investments amounted to $1,352,185 and $1,343,614 as at December 31, 2023 and 2022,
respectively.
B. Amounts recognised in profit or loss and other comprehensive income in relation to the financial
assets at fair value through other comprehensive income are listed below:
Years ended December 31,
2023 2022
Equity instruments at fair value through other
comprehensive income
Fair value change recognised in other
comprehensive income ($ 4,589) $ 207,974

327
 C. As at December 31, 2023 and 2022, without taking into account any collateral held or other credit
enhancements, the maximum exposure to credit risk in respect of the amount that best represents
the financial assets at fair value through other comprehensive income held by the Company were
$1,352,185 and $1,343,614, respectively.
D. The Company has no financial assets at fair value through other comprehensive income pledged
to others as collateral.
(4) Notes and accounts receivable

December 31, 2023 December 31, 2022

Notes receivable $ 24,813 $ 24,120

Accounts receivable $ 6,457,305 $ 9,397,107

Less: Allowance for uncollectible accounts ( 41,681) ( 48,383)
$ 6,415,624 $ 9,348,724

Overdue receivables
(shown as other non-current assets) $ 7,891 $ 4,298
Less: Allowance for uncollectible accounts ( 7,891) ( 4,298)
$ 6,415,624 $ 9,348,724

A. The aging analysis of accounts receivable is as follows:

December 31, 2023 December 31, 2022

Not past due $ 5,131,945 $ 8,559,156
1 to 90 days 1,294,958 738,862
91 to 180 days 4,356 70,946
181 to 365 days 18,520 23,557
Over 366 days 7,526 4,586
$ 6,457,305 $ 9,397,107

The above aging analysis was based on past due date.

B. As at December 31, 2023 and 2022, there was no notes receivable past due.
C. As at December 31, 2023 and 2022, accounts receivable and notes receivable were all from
contracts with customers. As at January 1, 2022, the balance of receivables from contracts with
customers amounted to $5,564,930.
D. The Company has no notes receivable and accounts receivable pledged to others as collateral.
E. As at December 31, 2023 and 2022, without taking into account any collateral held or other credit
enhancements, the maximum hedge to credit risk in respect of the amount that best represents the
Company’s notes receivable were $24,813 and $24,120, and accounts receivable were $6,415,624
and $9,348,724, respectively.
F. Information relating to credit risk is provided in Note 12(2).

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(5) Inventories
December 31, 2023
Allowance for
Cost valuation loss Book value
Raw materials $ 7,323,415 ($ 3,460,058) $ 3,863,357
Work in process 904,063 - 904,063
Finished goods 3,668,007 ( 817,198) 2,850,809
Inventory in transit 383,845 - 383,845
$ 12,279,330 ($ 4,277,256) $ 8,002,074

December 31, 2022

Allowance for
Cost valuation loss Book value
Raw materials $ 7,674,021 ($ 2,286,998) $ 5,387,023
Work in process 875,645 - 875,645
Finished goods 3,186,901 ( 431,496) 2,755,405
Inventory in transit 260,629 - 260,629
$ 11,997,196 ($ 2,718,494) $ 9,278,702

The cost of inventories recognised as expense for the year:

Years ended December 31,
2023 2022
Cost of goods sold $ 45,890,045 $ 43,790,737
Loss on market value decline and obsolete and
slow-moving inventories 1,844,705 1,396,935
Others ( 60,446) ( 79,345)
$ 47,674,304 $ 45,108,327

(6) Investments accounted for under equity method

A. Details of investments accounted for under the equity method are set forth below:
December 31, 2023 December 31, 2022
Investee Ownership (%) Book value Ownership (%) Book value
Delta International Holding
Limited B.V. (DIH) 100.00 $ 82,861,679 100.00 $ 76,736,635
Delta Electronics Int'l (Singapore)
Pte. Ltd. (DEIL-SG) 100.00 72,290,479 100.00 60,943,728
Cyntec Co., Ltd. (Cyntec) 100.00 38,066,466 100.00 37,441,523
Delta Electronics (Netherlands)
B.V. (DEN) 100.00 32,422,090 100.00 26,143,999
Delta Electronics (Thailand) Public
Company Limited (DET) (Note 1) 5.54 5,644,633 5.54 5,098,854

329
 December 31, 2023 December 31, 2022
Investee Ownership (%) Book value Ownership (%) Book value
Vivotek Inc. (Vivo) 56.75 4,445,816 56.75 4,497,416
Delta Electronics Capital Company
(DECC) 100.00 4,689,466 100.00 3,937,867
Delta Networks Holding Limited
(DNH) 100.00 2,425 100.00 2,160,582
Delta America Ltd. (DAL) (Note 2) 10.26 236,688 10.26 69,806
DelBio Inc. (DelBio) 100.00 132,694 100.00 183,797
Chunghwa SEA Holdings 44.00 8,164 44.00 8,349
Delmind Inc. 70.00 186,636 70.00 195,819
Ancora Semiconductors Inc. 67.03 209,798 67.03 386,576
Delta Energy Inc. 100.00 188,277 - -
Atrust Computer Corporation 55.02 949,711 - -
Power Forest Technology Corporation 21.20 39,095 - -
$ 242,374,117 $ 217,804,951
Note 1: The Company held 42.85% and 14.68% of the voting power of DET through DEIL-SG
and DIH, respectively in 2023, and held 42.85% and 15.39% of the voting power of DET
through DEIL-SG and DIH, respectively in 2022.
Note 2: The Company held 89.74% of the voting power of DAL through DIH in 2023 and held
89.74% of the voting power of DAL through DEN in 2022.
B. Share of profit/(loss) of subsidiaries and associates accounted for under equity method is shown
as follows:
Investee 2023 2022
DEIL-SG $ 18,815,324 $ 17,508,291
DEN 4,051,945 5,508,054
DIH 3,066,008 2,365,371
Cyntec 1,902,180 1,349,610
DET 797,668 570,354
DECC 751,599 ( 109,159)
Vivo 219,367 305,660
Ancora ( 193,585) ( 50,621)
Others 53,056 55,124
$ 29,463,562 $ 27,502,684

C. The financial statements of investments accounted for under the equity method were audited by
other independent auditors.
D. Information about subsidiaries of the Company is provided in Note 4(3) in the 2023 consolidated
financial statements.
E. Information about the Company’s subsidiaries exposure to Pillar Two income taxes arising from
the Pillar Two legislation is provided in Note 6(27) in the 2023 consolidated financial statements.

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(7) Property, plant and equipment
Unfinished
construction
Buildings and Machinery Testing and equipment
At January 1, 2023 Land structures equipment equipment Others under acceptance Total
Cost $ 10,613,899 $ 18,563,215 $ 3,868,177 $ 5,778,840 $ 3,365,930 $ 1,534,642 $ 43,724,703
Accumulated depreciation and
impairment - ( 6,212,796) ( 2,373,669) ( 4,594,922) ( 2,979,898) - ( 16,161,285)
$ 10,613,899 $ 12,350,419 $ 1,494,508 $ 1,183,918 $ 386,032 $ 1,534,642 $ 27,563,418

2023
Opening net book amount $ 10,613,899 $ 12,350,419 $ 1,494,508 $ 1,183,918 $ 386,032 $ 1,534,642 $ 27,563,418
Additions 18,843 187,300 390,762 949,188 166,684 3,241,758 4,954,535
Disposals ( 3,501) - ( 3,514) ( 1,125) ( 1,148) - ( 9,288)
Transfers - 1,230,076 177,674 157,970 62,989 ( 1,628,709) -
Depreciation charge - ( 736,947) ( 598,502) ( 774,580) ( 260,514) - ( 2,370,543)
Closing net book amount $ 10,629,241 $ 13,030,848 $ 1,460,928 $ 1,515,371 $ 354,043 $ 3,147,691 $ 30,138,122

At December 31, 2023

Cost $ 10,629,241 $ 19,566,083 $ 4,326,775 $ 6,741,636 $ 3,441,156 $ 3,147,691 $ 47,852,582
Accumulated depreciation and
impairment - ( 6,535,235) ( 2,865,847) ( 5,226,265) ( 3,087,113) - ( 17,714,460)
$ 10,629,241 $ 13,030,848 $ 1,460,928 $ 1,515,371 $ 354,043 $ 3,147,691 $ 30,138,122

331
 Unfinished
construction
Buildings and Machinery and Testing and equipment
At January 1, 2022 Land structures equipment equipment Others under acceptance Total
Cost $ 10,247,505 $ 14,845,685 $ 3,205,914 $ 4,992,913 $ 2,824,924 $ 640,778 $ 36,757,719
Accumulated depreciation and
impairment - ( 3,006,914) ( 2,216,462) ( 4,069,805) ( 2,488,709) - ( 11,781,890)
$ 10,247,505 $ 11,838,771 $ 989,452 $ 923,108 $ 336,215 $ 640,778 $ 24,975,829

2022
Opening net book amount $ 10,247,505 $ 11,838,771 $ 989,452 $ 923,108 $ 336,215 $ 640,778 $ 24,975,829
Additions - 141,852 410,323 846,575 311,402 1,771,559 3,481,711
Acquired through business
combinations 465,687 678,505 - - 597 - 1,144,789
Disposals ( 75,929) ( 159,586) ( 15,267) ( 4,215) ( 926) - ( 255,923)
Transfers (Note) ( 23,364) 463,231 574,515 148,148 35,716 ( 877,695) 320,551
Depreciation charge - ( 612,354) ( 464,515) ( 729,698) ( 296,972) - ( 2,103,539)
Closing net book amount $ 10,613,899 $ 12,350,419 $ 1,494,508 $ 1,183,918 $ 386,032 $ 1,534,642 $ 27,563,418

At December 31, 2022

Cost $ 10,613,899 $ 18,563,215 $ 3,868,177 $ 5,778,840 $ 3,365,930 $ 1,534,642 $ 43,724,703
Accumulated depreciation and
impairment - ( 6,212,796) ( 2,373,669) ( 4,594,922) ( 2,979,898) - ( 16,161,285)
$ 10,613,899 $ 12,350,419 $ 1,494,508 $ 1,183,918 $ 386,032 $ 1,534,642 $ 27,563,418

Note: On October 1, 2021, the Board of Directors of the Company resolved to dispose a number of battery cell assembly equipment and transfer the
equipment recognised amounting to $320,551 to non-current assets held for sale at the lower of carrying amount and fair value less costs to sell.
However, the equipment was transferred back from assets held for sale as the Company and the buyer both agreed to terminate the contract for
the disposal of the equipment on March 31, 2022.
A. The Company’s property, plant and equipment are mainly owner-occupied.
B. No interest expense was capitalised on property, plant and equipment.

332
(8) Leasing arrangements - lessee
A. The Company leases various assets including land, buildings and transportation equipment. Rental
contracts are typically made for periods of 1 to 20 years. Lease terms are negotiated on an
individual basis and contain a wide range of different terms and conditions. The lease agreements
do not impose covenants, but leased assets may not be used as security for borrowing purposes.
B. The carrying amount of right-of-use assets and the depreciation charge are as follows:

December 31, 2023 December 31, 2022

Book value Book value
Land $ 420,109 $ 440,526
Buildings and structures 145,550 114,985
Transportation equipment 3,052 6,000
Other equipment 1,046 1,387
$ 569,757 $ 562,898

Years ended December 31,

2023 2022
Depreciation charge Depreciation charge
Land $ 18,175 $ 18,043
Buildings and structures 62,158 14,012
Transportation equipment 2,949 2,497
Other equipment 932 131
$ 84,214 $ 34,683

C. For the years ended December 31, 2023 and 2022, the additions to right-of-use assets were
$91,073 and $160,694, respectively.
D. Information on profit or loss in relation to lease contracts is as follows:
Years ended December 31,
2023 2022
Items affecting profit or loss
Interest expense on lease liabilities $ 5,183 $ 4,106
Expense on short-term lease contracts $ 101,703 $ 74,276

E. For the years ended December 31, 2023 and 2022, the Company’s total cash outflow for leases
were $184,524 and $111,612, respectively.
F. Extension options
(a) Extension options are included in the Company’s lease contracts pertaining to certain land.
These terms and conditions are the lessor’s general practice and for the Company to effectively
utilise the assets.
(b) In determining the lease term, the Company takes into consideration all facts and
circumstances that create an economic incentive to exercise an extension option. The
assessment of lease period is reviewed if a significant event occurs which affects the

333
 assessment.
(9) Intangible assets
At January 1, 2023 Trademarks Patents Goodwill Others Total
Cost $ 413,163 $ 162,453 $ 423,438 $ 1,497,414 $ 2,496,468
Accumulated amortisation
and impairment ( 26,340) ( 114,178) ( 417,151) ( 912,781) ( 1,470,450)
$ 386,823 $ 48,275 $ 6,287 $ 584,633 $ 1,026,018
2023
Opening net book amount $ 386,823 $ 48,275 $ 6,287 $ 584,633 $ 1,026,018
Additions - 24,015 - 294,156 318,171
Amortisation - ( 11,884) - ( 469,388) ( 481,272)
Impairment loss - - ( 6,287) - ( 6,287)
Closing net book amount $ 386,823 $ 60,406 $ - $ 409,401 $ 856,630

At December 31, 2023

Cost $ 413,163 $ 186,468 $ 423,438 $ 1,416,144 $ 2,439,213
Accumulated amortisation
and impairment ( 26,340) ( 126,062) ( 423,438) ( 1,006,743) ( 1,582,583)
$ 386,823 $ 60,406 $ - $ 409,401 $ 856,630

At January 1, 2022 Trademarks Patents Goodwill Others Total

Cost $ 413,163 $ 148,669 $ 409,645 $ 2,869,804 $ 3,841,281
Accumulated amortisation
and impairment ( 26,340) ( 103,749) - ( 1,804,192) ( 1,934,281)
$ 386,823 $ 44,920 $ 409,645 $ 1,065,612 $ 1,907,000
2022
Opening net book amount $ 386,823 $ 44,920 $ 409,645 $ 1,065,612 $ 1,907,000
Additions - 13,784 - 443,412 457,196
Acquired through business
combinations - - 13,793 - 13,793
Reclassifications - - - ( 355,222) ( 355,222)
Amortisation - ( 10,429) - ( 569,169) ( 579,598)
Impairment loss - - ( 417,151) - ( 417,151)
Closing net book amount $ 386,823 $ 48,275 $ 6,287 $ 584,633 $ 1,026,018

At December 31, 2022

Cost $ 413,163 $ 162,453 $ 423,438 $ 1,497,414 $ 2,496,468
Accumulated amortisation
and impairment ( 26,340) ( 114,178) ( 417,151) ( 912,781) ( 1,470,450)
$ 386,823 $ 48,275 $ 6,287 $ 584,633 $ 1,026,018

334
A. Details of amortisation on intangible assets are as follows:

Years ended December 31,

2023 2022
Operating costs $ 4,585 $ 3,816
Selling expenses 867 32
Administrative expenses 102,613 172,101
Research and development expenses 373,207 403,649
$ 481,272 $ 579,598

B. The Company acquired registered or under-application trademark rights such as ,

, VIVITEK, 麗訊 and . The Company’s trademarks are assessed to
have finite useful lives. The remaining trademarks which have indefinite useful lives shall not be
amortised but are tested for impairment annually.
C. Goodwill and trademarks with indefinite useful lives are allocated as follows to the Company’s
cash-generating units identified according to operating segment:

December 31, 2023 December 31, 2022

Goodwill:
MES and others $ - $ 6,287

Trademarks:
Infrastructure business $ 386,823 $ 386,823

D. Goodwill and trademarks with indefinite useful lives are allocated to the Company’s cash-
generating units identified according to operating segment. The recoverable amount of all cash-
generating units has been determined based on value-in-use calculations. An impairment is
recognised when the carrying amount exceeds the recoverable amount calculated based on value-
in-use. Value-in-use calculations take into account operating margin, growth rate and discount rate.
Management determined budgeted operating margin based on past performance and their
expectations of market development. The weighted average growth rates used are consistent with
the projection included in industry reports. The discount rates used were pre-tax and reflected
specific risks relating to the relevant operating segments.
An impairment loss of $6,287 and $417,151 were recognised for the years ended December 31,
2023 and 2022 since the recoverable amount of the cash-generating unit, MES and others, was
less than the carrying amount due to its operating revenue failing to meet expectations. The
discount rates used in calculating value-in-use were 9.69% and 10.5% on December 31, 2023 and
2022, respectively.

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(10) Other non-current assets

December 31, 2023 December 31, 2022

Prepayments for business facilities $ 494,303 $ 390,142
Guarantee deposits paid 29,294 27,212
Cash surrender value of life insurance 25,340 28,106
Financial assets at amortised cost - non-currrent - 113,274
Others 7,107 23,434
$ 556,044 $ 582,168

(11) Short-term borrowings

Type of borrowings December 31, 2023 December 31, 2022
Credit lines $ 3,948,419 $ 4,058,372
(12) Other payables
December 31, 2023 December 31, 2022
Salary, bonus and compensation payable $ 15,248,207 $ 12,982,525
Others 4,004,037 2,918,937
$ 19,252,244 $ 15,901,462

(13) Bonds payable

December 31, 2023 December 31, 2022
Domestic unsecured corporate bonds $ 29,100,000 $ 11,600,000
The Company issued domestic unsecured ordinary corporate bonds during the year ended December
31, 2022. The main conditions are as follows:
Total issuance
Issuance Type of bonds Issuance period amount Coupon rate Repayment term
First issuance in Tranche A April 2022 - $ 5,900,000 0.85% Principal is repayable at
2022 April 2027 maturity and interest is
repayable annually
First issuance in Tranche B April 2022 - 700,000 0.90% 〃
2022 April 2029
Second issuance in October 2022 - 5,000,000 1.45% 〃
2022 October 2025
First issuance in January 2023 - 5,000,000 1.83% 〃
2023 January 2026
Second issuance in Tranche A April 2023 - 3,000,000 1.43% 〃
2023 April 2026
Second issuance in Tranche B April 2023 - 3,500,000 1.53% 〃
2023 April 2028
Third issuance in June 2023 - 6,000,000 1.49% 〃
2023 June 2026

336
(14) Long-term borrowings
Type of borrowings December 31, 2023 December 31, 2022
Credit loans $ 24,387,448 $ 32,216,656
Less: Current portion
(shown as other current liabilities) ( 2,490,095) -
$ 21,897,353 $ 32,216,656
Credit lines $ 75,011,865 $ 75,320,973
Interest rate range 1.06%~5.96% 0.935%~5.17%

As at December 31, 2023, the revolving loans of $20,361,520 can be drawn down during the period
from November 14, 2022 to January 4, 2026 and are payable before the due date under the agreement.
(15) Pensions
A. Defined benefit plan
(a) The Company has a defined benefit pension plan in accordance with the Labor Standards Act,
covering all regular employees’ service years prior to the enforcement of the Labor Pension
Act on July 1, 2005 and service years thereafter of employees who chose to continue to be
subject to the pension mechanism under the Labor Standards Act. Under the defined benefit
pension plan, two units are accrued for each year of service for the first 15 years and one unit
for each additional year thereafter, subject to a maximum of 45 units. Pension benefits are
based on the number of units accrued and the average monthly salaries and wages of the last
6 months prior to retirement. The Company contributes monthly an amount equal to 2% of
the employees’ monthly salaries and wages to the retirement fund deposited with Bank of
Taiwan, the trustee, under the name of the independent retirement fund committee. Also, the
Company would assess the balance in the aforementioned labor pension reserve account by
December 31, every year. If the account balance is not enough to pay the pension calculated
by the aforementioned method to the employees expected to qualify for retirement in the
following year, the Company will make contribution for the deficit by next March.
(b) The amounts recognised in the balance sheet are as follows:
December 31, 2023 December 31, 2022
Present value of defined benefit obligations ($ 3,348,783) ($ 3,457,297)
Fair value of plan assets 2,058,265 2,088,616
Net defined benefit liability (shown
as other non-current liabilities) ($ 1,290,518) ($ 1,368,681)

337
(c) Movements in net defined benefit liabilities are as follows:

Present value of
defined benefit Fair value Net defined
obligations of plan assets benefit liability
Year ended December 31, 2023
Balance at January 1 ($ 3,457,297) $ 2,088,616 ($ 1,368,681)
Current service cost ( 21,735) - ( 21,735)
Interest (expense) income ( 43,896) 26,384 ( 17,512)
Past service cost 10,318 - 10,318
( 3,512,610) 2,115,000 ( 1,397,610)
Remeasurements:
Return on plan assets
(excluding amounts included in
interest income or expense) - 18,187 18,187
Change in financial assumptions ( 15,098) - ( 15,098)
Change in demographic
assumptions ( 158) - ( 158)
Experience adjustments ( 15,406) - ( 15,406)
( 30,662) 18,187 ( 12,475)
Pension fund contribution - 77,744 77,744
Paid pension 194,489 ( 152,666) 41,823
Balance at December 31 ($ 3,348,783) $ 2,058,265 ($ 1,290,518)

Present value of
defined benefit Fair value Net defined
obligations of plan assets benefit liability
Year ended December 31, 2022
Balance at January 1 ($ 3,472,042) $ 2,038,970 ($ 1,433,072)
Current service cost ( 21,199) - ( 21,199)
Interest (expense) income ( 23,792) 13,899 ( 9,893)
( 3,517,033) 2,052,869 ( 1,464,164)
Remeasurements:
Return on plan assets
(excluding amounts included in
interest income or expense) - 160,699 160,699
Change in financial assumptions 202,823 - 202,823
Change in demographic
assumptions ( 12) - ( 12)
Experience adjustments ( 352,945) - ( 352,945)
( 150,134) 160,699 10,565
Pension fund contribution - 40,361 40,361
Paid pension 198,810 ( 165,313) 33,497
Settlement 11,060 - 11,060
Balance at December 31 ($ 3,457,297) $ 2,088,616 ($ 1,368,681)

338
(d) The Bank of Taiwan was commissioned to manage the Fund of the Company’s defined
benefit pension plan in accordance with the Fund’s annual investment and utilisation plan
and the “Regulations for Revenues, Expenditures, Safeguard and Utilisation of the Labor
Retirement Fund” (Article 6: The scope of utilisation for the Fund includes deposit in
domestic or foreign financial institutions, investment in domestic or foreign listed, over-the-
counter, or private placement equity securities, investment in domestic or foreign real estate
securitization products, etc.). With regard to the utilisation of the Fund, its minimum earnings
in the annual distributions on the final financial statements shall be no less than the earnings
attainable from the amounts accrued from two-year time deposits with the interest rates
offered by local banks. If the earnings is less than aforementioned rates, government shall
make payment for the deficit after being authorized by the Regulator. The Company has no
right to participate in managing and operating that fund and hence the Company is unable to
disclose the classification of plan assets fair value in accordance with IAS 19 paragraph 142.
The composition of fair value of plan assets as of December 31, 2023 and 2022 is given in
the Annual Labor Retirement Fund Utilisation Report announced by the government.
(e) The principal actuarial assumptions used were as follows:
Years ended December 31,
2023 2022
Discount rate 1.25% 1.3%
Future salary increases rate 3.00% 3.00%
Assumptions regarding future mortality experience are set based on actuarial advice in
accordance with published statistics and experience in each territory.
Because the main actuarial assumption changed, the present value of defined benefit
obligation is affected. The analysis was as follows:
Discount rate Future salary increases rate
Increase Decrease Increase Decrease
0.25% 0.25% 0.25% 0.25%
December 31, 2023
Effect on present value of defined
benefit obligation ($ 74,041) $ 76,613 $ 73,915 ($ 71,826)

December 31, 2022

Effect on present value of defined
benefit obligation ($ 79,327) $ 82,152 $ 79,260 ($ 76,954)

The sensitivity analysis above is based on one assumption which changed while the other
conditions remain unchanged. In practice, more than one assumption may change all at once.
The method of analysing sensitivity and the method of calculating net pension liability in the
balance sheet are the same.
(f) Expected contributions to the defined benefit pension plan of the Company for the year
ending December 31, 2024 amount to $43,023.

339
 (g) As at December 31, 2023, the weighted average duration of the retirement plan is 9 years.
B. Defined contribution plan
Effective July 1, 2005, the Company has established a defined contribution pension plan (the
“New Plan”) under the Labor Pension Act, covering all regular employees with R.O.C.
nationality. Under the New Plan, the Company contributes monthly an amount based on 6% of
the employees’ monthly salaries and wages to the employees’ individual pension accounts at the
Bureau of Labor Insurance. The benefits accrued are paid monthly or in lump sum upon
termination of employment. The pension costs under the defined contribution pension plan of the
Company for the years ended December 31, 2023 and 2022 were $591,466 and $488,926,
respectively.
(16) Share capital
A. In accordance with the Company’s Articles of Incorporation, the total authorised common stock
is 4 billion shares (including 100 million shares for stock warrants conversion). As at December
31, 2023, the total issued and outstanding common stock was 2,597,543 thousand shares with
par value of $10 (in dollars) per share.
B. On December 20, 2004, the Board of Directors of the Company adopted a resolution that allowed
certain stockholders to issue 16 million units of global depository receipts (GDRs), represented
by 80 million shares of common stock (Deposited Shares), with one unit of GDR representing 5
shares of common stock. After obtaining approval from SFB, these GDRs were listed on the
Securities Exchange of Luxembourg on March 29, 2005, with total proceeds of US$134,666
thousand. The issuance of GDRs was represented by outstanding shares, therefore, there is no
dilutive effect on the common shares’ equity. The main terms and conditions of the GDRs are as
follows:
(a) Voting rights
GDR holders may, pursuant to the Depositary Agreement and the relevant laws and
regulations of the R.O.C., exercise the voting rights pertaining to the underlying common
shares represented by the GDRs.
(b) Redemption of GDRs
For sales and redemption of the underlying common shares represented by the GDRs when
the holders of the GDRs request the Depositary to redeem the GDRs in accordance with the
relevant R.O.C. regulations and the provisions in the Depositary Agreement, the Depositary
may (i) deliver the underlying common shares represented by the GDRs to the GDR holders,
or (ii) sell the underlying common shares represented by the GDRs in the R.O.C. stock market
on behalf of the GDR holder. The payment of proceeds from such sale shall be made subject
to the relevant R.O.C. laws and regulations and the provisions in the Depositary Agreement.
(c) Distribution of dividends, preemptive rights and other rights
Distribution of dividends, preemptive rights and other rights and interests of GDR units bear
the same rights as common shares.

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 (d) After considering the stock dividend distribution year by year, as at December 31, 2023, there
were 254 thousand units outstanding, representing 1,272 thousand common shares of the
Company’s common stock.
(17) Capital surplus
Pursuant to the R.O.C. Company Law, capital surplus arising from paid-in capital in excess of par
value on issuance of common stocks and donations can be used to cover accumulated deficit or to
issue new stocks or cash to shareholders in proportion to their share ownership, provided that the
Company has no accumulated deficit. Further, the R.O.C. Securities and Exchange Law requires
that the amount of capital surplus to be capitalised mentioned above should not exceed 10% of the
paid-in capital each year. Capital surplus should not be used to cover accumulated deficit unless the
legal reserve is insufficient.
(18) Retained earnings
A. Under the Company’s Articles of Incorporation, the current year’s earnings, if any, shall be
distributed in the following order:
(a) Payment of all taxes and dues.
(b) Offset against prior years’ operating losses, if any.
(c) Set aside 10% of the remaining amount as legal reserve, unless the accumulated amount of
the legal reserve has reached the total authorised capital of the Company.
(d) Setting aside or reversing a special reserve according to relevant regulations when necessary.
(e) The remainder along with beginning unappropriated earnings shall be shareholders’ bonus.
The appropriation of earnings shall be proposed by the Board of Directors and resolved by
the shareholders.
As the Company is in the growth stage, taking into consideration the shareholders’ benefits,
the Company's financial health, and business development, as well as future plans for capital
expenditures and reinvestment, the amount of dividends distributed to shareholders shall not
be lower than 50% of post-tax profit for the current year. Cash dividends shall be at least 15%
of the total dividends distributed to shareholders.
B. Except for covering accumulated deficit or issuing new stocks or cash to shareholders in
proportion to their share ownership, the legal reserve shall not be used for any other purpose.
The use of legal reserve for the issuance of stocks or cash to shareholders in proportion to their
share ownership is permitted, provided that the distribution of the reserve is limited to the portion
in excess of 25% of the Company’s paid-in capital.
C. (a) In accordance with the regulations, the Company shall set aside special reserve from the debit
balance on other equity items at the balance sheet date before distributing earnings. When
debit balance on other equity items is reversed subsequently, the reversed amount could be
included in the distributable earnings.
(b) The amounts previously set aside by the Company as special reserve on initial application of
IFRSs in accordance with Jin-Guan-Zheng-Fa-Zi Letter No. 1010012865, dated April 6, 2012,
shall be reversed proportionately when the relevant assets are used, disposed of or reclassified

341
 subsequently. Such amounts are reversed upon disposal or reclassified if the assets are
investment property of land, and reversed over the use period if the assets are investment
property other than land.
D. The appropriations of 2022 and 2021 earnings had been approved by the shareholders during
their meeting on June 13, 2023 and June 14, 2022, respectively. Details are summarised below:

Years ended December 31,

2022 2021
Dividends Dividends
per share per share
Amount (in dollars) Amount (in dollars)
Legal reserve appropriated $ 3,288,320 $ 2,688,553
Special reserve (reversed)
appropriated ( 13,198,044) 3,623,514
Cash dividends (Note) 25,559,826 $ 9.84 14,286,488 $ 5.5

Note : Information about the appropriation of earnings will be posted in the “Market Observation
Post System” at the website of the Taiwan Stock Exchange.
E. The appropriations of 2023 earnings had been proposed by the Board of Directors on February
29, 2024. Details are summarised below:

Year ended December 31, 2023

Dividends per share
Amount (in dollars)
Legal reserve appropriated $ 3,364,651
Special reserve appropriated 1,027,060
Cash dividends 16,702,204 $ 6.43

As at February 29, 2024, the above-mentioned 2023 earnings appropriation has not yet been
approved by the stockholders.
(19) Operating revenue
Years ended December 31,
2023 2022
Revenue from contracts with customers $ 86,866,626 $ 82,637,878

A. Disaggregation of revenue from contracts with customers

The Company derives revenue from the transfer of goods and services over time and at a point
in time in the following major business:

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 Year ended December 31, 2023
Power electronics Automation Infrastructure Others Total
Revenue from external
customer contracts $ 20,143,024 $ 11,058,262 $ 35,407,066 $ 20,258,274 $ 86,866,626
Timing of revenue
recognition
At a point in time 15,449,005 8,385,508 31,956,665 191,206 55,982,384
Over time 4,694,019 2,672,754 3,450,401 20,067,068 30,884,242
$ 20,143,024 $ 11,058,262 $ 35,407,066 $ 20,258,274 $ 86,866,626

Year ended December 31, 2022

Power electronics Automation Infrastructure Others Total

Revenue from external

customer contracts $ 19,268,668 $ 11,302,403 $ 30,388,494 $ 21,678,313 $ 82,637,878
Timing of revenue
recognition
At a point in time 16,586,537 8,801,194 27,215,070 327,608 52,930,409
Over time 2,682,131 2,501,209 3,173,424 21,350,705 29,707,469
$ 19,268,668 $ 11,302,403 $ 30,388,494 $ 21,678,313 $ 82,637,878

B. Contract assets and liabilities

The Company has recognised the revenue-related contract assets primarily from automation
equipment contracts and resolution of communication equipment power resource system;
contract liabilities primarily pertain to advance sales receipts, advance receipts for automation
equipment contract and resolution of communication equipment power resource system, etc.
Revenue recognised that was included in the contract liability balance at the beginning of the
year is as follows:
Years ended December 31,
2023 2022
Revenue recognised that was included in the
contract liability balance at the beginning of
the year
Advance sales receipts, advance receipts for
automation equipment contract and
resolution of communication
equipment power resource system, etc. $ 2,562,573 $ 2,455,259
(20) Interest income
Years ended December 31,
2023 2022
Interest income from bank deposits $ 50,002 $ 17,441

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(21) Other income
Years ended December 31,
2023 2022
Rental income $ 92,998 $ 79,067
Testing fee income 87,423 76,044
Sample sales income 86,232 176,751
Mold fee income 84,245 60,052
Dividend income 65,996 56,716
Others 823,714 612,202
$ 1,240,608 $ 1,060,832
(22) Other gains and losses
Years ended December 31,
2023 2022
Gain on disposal of property, plant and equipment $ 3,163 $ 518,296
Net currency exchange gain (loss) 123,509 ( 348,624)
Gain (loss) on financial assets at fair value through
profit or loss 1,325,069 ( 6,645)
Impairment loss on non-financial assets ( 6,287) ( 417,151)
Miscellaneous expenses ( 86,357) ( 43,351)
$ 1,359,097 ($ 297,475)
(23) Finance costs
Years ended December 31,
2023 2022
Interest expense $ 874,398 $ 478,732
(24) Expenses by nature

Years ended December 31,

2023 2022
Employee benefit expense $ 22,348,614 $ 19,568,903
Depreciation charges on property, plant and
equipment 2,370,543 2,103,539
Depreciation charges on right-of-use assets 84,214 34,683
Amortisation charges on intangible assets 481,272 579,598
$ 25,284,643 $ 22,286,723

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(25) Employee benefit expense

Years ended December 31,

2023 2022
Post-employment benefits
Defined contribution plan $ 591,466 $ 488,926
Defined benefit plan 28,929 31,092
620,395 520,018
Other employee benefits 21,728,219 19,048,885
$ 22,348,614 $ 19,568,903

A. According to the Articles of Incorporation of the Company, a ratio of profit of the current year
distributable, after covering accumulated losses, shall be distributed as employees’ compensation
and directors’ remuneration. The ratio shall not be lower than 3% for employees’ compensation
and shall not be higher than 1% for directors’ remuneration.
To attract talents from labour market, the overall salary positioning of the Company is superior
to the benchmark of the technology industry. The salary structures are reviewed annually to
maintain a highly competitive edge in motivating and retaining top talents by referring to the
labour market salary survey and the industry salary benchmark. In addition to complying with
the local labour laws and related salary regulations, the Company particularly focuses on the link
between the Company’s performance and employees’ salary and the rational design of the salary
based on these factors.
The remuneration of directors shall be assessed by the remuneration committee based on their
participation in the operations of the Company and the value of their contribution to the Company,
and shall be determined by referring to the industry salary benchmark. Independent directors may
be remunerated differently from general directors. An independent director who serves as
chairman of the functional committee may be remunerated higher than other independent
directors. The management’s salary is highly related to the Company’s operating results and
performance. The proposal of the management’s salary is determined based on the evaluation of
its key performance indicators and the industry salary benchmark.

345
 The Company’s employee salary includes monthly salary, bonus, and employee compensation.
The standard salary of the employee is determined based on the position, educational experience,
professional knowledge, and market value. Starting salary and rewards do not vary according to
gender, religion, political affiliation, marital status, etc. The annual salary increase budget is
about 3 ~ 5% based on the principle that the employee’s salary is in line with the market condition
and fairness. The employees’ compensation is, based on their position, contribution, and
performance, offered to encourage the employees to focus on long-term contribution to and build
mutual benefit and prosperity with the Company.
The remuneration of directors and management as well as the compensation of employees shall
all be discussed and approved by the remuneration committee and then submitted to the Board
of Directors for discussion and resolution.
B. For the years ended December 31, 2023 and 2022, employees’ compensation were accrued at
$3,172,303 and $3,103,244, respectively; while directors’ remuneration were accrued at
$128,075 (including the estimated amount for the long-term incentive plan) and $55,008,
respectively. The aforementioned amounts were recognised in salary expenses. The final payout
for the long-term incentive plan will be determined based on the performance achieved in 2023.
For the year ended December 31, 2023, the employees’ compensation and directors’
remuneration were estimated and accrued based on profit of current year distributable as
prescribed by the Company’s Articles of Incorporation. The employees’ compensation of
$3,172,303 and directors’ remuneration of $61,660 for 2023 were resolved by the Board of
Directors on February 29, 2024. Employees’compensation as resolved by the Board of Directors
was in agreement with the amount recognised in the 2023 financial statements. The difference
between directors’ remuneration resolved by the Board of Directors and the amount recognised
in the 2023 financial statements had been accounted for as change in accounting estimate and
recognised in profit or loss for 2024.
The employees’ compensation of $3,103,244 and directors’ remuneration of $47,520 for 2022
were resolved by the Board of Directors on February 22, 2023. Employees’compensation as
resolved by the Board of Directors was in agreement with the amount recognised in the 2022
financial statements. The difference between directors’ remuneration resolved by the Board of
Directors and the amount recognised in the 2022 financial statements had been accounted for as
change in accounting estimate and recognised in profit or loss for 2023.
Information about employees’ compensation and directors’ remuneration of the Company as
resolved by the Board of Directors will be posted in the “Market Observation Post System” at
the website of the Taiwan Stock Exchange.

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(26) Income tax
A. Income tax expense
(a) Components of income tax expense:
Years ended December 31,
2023 2022
Current tax:
Current tax on profits for the year $ 1,738,059 $ 2,787,711
Tax on undistributed surplus earnings 673,280 172,579
Prior year income tax overestimation ( 529,376) ( 441,385)
Total current tax 1,881,963 2,518,905
Deferred tax:
Origination and reversal of temporary
differences 2,631,372 1,905,553
Income tax expense $ 4,513,335 $ 4,424,458

(b) The income tax (charge)/credit relating to components of other comprehensive income is as
follows:
Years ended December 31,
2023 2022
Remeasurement of defined benefit plan ($ 2,495) $ 2,113
Currency translation differences ( 26,277) 811,127
($ 28,772) $ 813,240

B. Reconciliation between income tax expense and accounting profit:

Years ended December 31,
2023 2022
Tax calculated based on profit before tax and
statutory tax rate $ 7,581,199 $ 7,418,038
Effects from items adjusted in accordance with
tax regulations ( 2,326,912) ( 1,890,540)
Effect from investment tax credits ( 884,856) ( 834,234)
Prior year income tax overestimation ( 529,376) ( 441,385)
Tax on undistributed surplus earnings 673,280 172,579
$ 4,513,335 $ 4,424,458

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C. Amounts of deferred tax assets or liabilities as a result of temporary differences are as follows:
2023
Recognised in
other
Recognised in comprehensive Recognised
January 1 profit or loss income in equity December 31
Deferred tax assets:
- Temporary differences:
Allowance for inventory
obsolescence $ 492,868 $ 311,753 $ - $ - $ 804,621
Pension liability 268,976 ( 18,128) 2,495 - 253,343
Assets impairment 12,854 - - - 12,854
Others 170,566 8,463 - - 179,029
945,264 302,088 2,495 - 1,249,847
Deferred tax liabilities:
- Temporary differences:
Land value increment tax ( 119,862) - - - ( 119,862)
Long-term equity investments ( 14,157,296) ( 2,649,347) 26,277 ( 1,319,965) ( 18,100,331)
Others ( 443,480) ( 284,113) - - ( 727,593)
( 14,720,638) ( 2,933,460) 26,277 ( 1,319,965) ( 18,947,786)
($ 13,775,374) ($ 2,631,372) $ 28,772 ($ 1,319,965) ($ 17,697,939)

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 2022
Recognised in
other
Recognised in comprehensive Recognised
January 1 profit or loss income in equity December 31
Deferred tax assets:
- Temporary differences:
Allowance for inventory
obsolescence $ 243,126 $ 249,742 $ - $ - $ 492,868
Pension liability 282,463 ( 11,374) ( 2,113) - 268,976
Assets impairment 6,571 6,283 - - 12,854
Others 181,513 ( 10,947) - - 170,566
713,673 233,704 ( 2,113) - 945,264
Deferred tax liabilities:
- Temporary differences:
Land value increment tax ( 119,862) - - - ( 119,862)
Long-term equity investments ( 11,405,185) ( 2,111,655) ( 811,127) 170,671 ( 14,157,296)
Others ( 415,878) ( 27,602) - - ( 443,480)
( 11,940,925) ( 2,139,257) ( 811,127) 170,671 ( 14,720,638)
($ 11,227,252) ($ 1,905,553) ($ 813,240) $ 170,671 ($ 13,775,374)

D. The Company has not recognised taxable temporary differences associated with investment in subsidiaries as deferred tax liabilities. As
at December 31, 2023 and 2022, the amounts of temporary differences unrecognised as deferred tax liabilities were $9,692,225 and
$9,027,005, respectively.
E. The Company’s income tax returns through 2021 have been assessed and approved by the Tax Authority.

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(27) Earnings per share
Year ended December 31, 2023
Weighted average
number of
ordinary shares Earnings
Amount outstanding per share
after tax (shares in thousands) (in dollars)
Basic earnings per share
Profit attributable to ordinary
shareholders of the parent $ 33,392,665 2,597,543 $ 12.86
Diluted earnings per share
Profit attributable to ordinary
shareholders of the parent $ 33,392,665 2,597,543
Assumed conversion of all
dilutive potential ordinary
shares:
Employees’ compensation - 11,634
Profit attributable to ordinary
shareholders of the parent
plus assumed conversion of
all dilutive potential ordinary
shares $ 33,392,665 2,609,177 $ 12.80

Year ended December 31, 2022

Weighted average
number of
ordinary shares Earnings
Amount outstanding per share
after tax (shares in thousands) (in dollars)
Basic earnings per share
Profit attributable to ordinary
shareholders of the parent $ 32,665,728 2,597,543 $ 12.58
Diluted earnings per share
Profit attributable to ordinary
shareholders of the parent $ 32,665,728 2,597,543
Assumed conversion of all
dilutive potential ordinary
shares:
Employees’ compensation - 12,313
Profit attributable to ordinary
shareholders of the parent
plus assumed conversion of
all dilutive potential ordinary
shares $ 32,665,728 2,609,856 $ 12.52

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(28) Business combinations
A. Business combinations of the Company for the year ended December 31, 2022 are as follows:
Based on the resolution of the Board of Directors on February 24, 2022, the Company
consummated a short-form merger with the subsidiary, Allied Material Technology Corp.,
pursuant to Article 19 of the Enterprises Mergers and Acquisitions Act. The merger became
effective on May 1, 2022, with the Company as the surviving entity after the merger.
B. The book value of Allied Material Technology Corp. on the acquisition date is shown as follows:
May 1, 2022
Accounts receivable, net $ 12
Other receivables 89
Property, plant and equipment 1,144,789
Intangible assets 13,793
Contract liabilities - current ( 267)
Accounts payable ( 527)
Other payables ( 9,474)
Other non-current liabilities ( 6,964)
Cash inflow arising from business combination 417,829
$ 1,559,280

(29) Changes in liabilities from financing activities

Liabilities from
Bonds Long-term financing
payable borrowings activities-gross
At January 1, 2023 $ 11,600,000 $ 32,216,656 $ 43,816,656
Changes in cash flow from
financing activities 17,500,000 ( 7,829,208) 9,670,792
At December 31, 2023 $ 29,100,000 $ 24,387,448 $ 53,487,448
Liabilities from
Short-term Bonds Long-term financing
borrowings payable borrowings activities-gross
At January 1, 2022 $ 1,400,000 $ - $ 43,303,780 $ 44,703,780
Changes in cash flow from
financing activities ( 1,400,000) 11,600,000 ( 11,087,124) ( 887,124)
At December 31, 2022 $ - $ 11,600,000 $ 32,216,656 $ 43,816,656

351
7. RELATED PARTY TRANSACTIONS
(1) Names and relationship of related parties

Names and relationship of related parties Relationship with the Company

Delta Electronics Int'l (Singapore) Pte. Ltd. Subsidiary
(DEIL-SG)
DEI Logistics (USA) Corp. (ALI) "
Delta Electronics (Americas) Ltd. "
Delta Electronics (Thailand) Public "
Company Limited (DET)
Cyntec Co., Ltd. (Cyntec) "
Delta Electronics (Jiangsu) Ltd. "
Delta Electronics (Japan), Inc. (DEJ) "
Digital Projection Asia Pte Ltd. Associate
Delta Networks (Xiamen) Ltd. "

(2) Significant transactions and balances with related parties

A. Operating revenue
Years ended December 31,
2023 2022
Sales of goods:
Subsidiaries
ALI $ 7,695,077 $ 10,269,538
Others 8,352,975 6,423,928
Associates 3,864 5,482
$ 16,051,916 $ 16,698,948

Years ended December 31,

2023 2022
Sales of services and others:
Subsidiaries
DEIL-SG $ 19,472,576 $ 20,303,726
Others 7,220,123 5,578,490
$ 26,692,699 $ 25,882,216
The Company sells commodities to related parties based on mutually agreed selling price and
terms as there is no similar transaction to be compared with. Sales of services to related parties
arise mainly from licensing patent technologies and intellectual property and are recognised as
revenue on a usage basis.

352
B. Purchases
Years ended December 31,
2023 2022
Purchases of goods:
Subsidiaries
DEIL-SG $ 23,367,187 $ 21,989,667
Others 270,338 447,587
Associates 55,301 81,255
Purchases of services and others:
Subsidiaries 2,161,088 2,274,162
$ 25,853,914 $ 24,792,671
The purchase terms, including prices and payments, are based on mutual agreement and have no
similar transaction to be compared with.
C. Period-end balances arising from sales of goods and services
December 31, 2023 December 31, 2022
Receivables from related parties:
Subsidiaries
DEIL-SG $ 2,024,475 $ 1,959,034
DET 2,008,219 587,471
ALI 1,860,255 3,532,586
Others 2,916,966 2,767,704
Associates 135 665
$ 8,810,050 $ 8,847,460
The receivables from related parties arise mainly from sales transactions. The receivables are due
90 days after the date of sale for ALI and 75 days after the date of sale for the others. The
receivables are unsecured in nature and bear no interest. There are no provisions held against
receivables from related parties.
D. Period-end balances arising from purchases of goods

December 31, 2023 December 31, 2022

Payables to related parties:
Subsidiaries
DEIL-SG $ 7,120,645 $ 10,221,747
Others 693,912 749,807
Associates 6,974 10,671
$ 7,821,531 $ 10,982,225

The payables to related parties arise mainly from purchase transactions and purchase of services
and are due 70 days after the date of purchase. The payables bear no interest.

353
 E. Period-end balances arising from other transactions
December 31, 2023 December 31, 2022
Other receivables-related parties
Subsidiaries
DEIL-SG $ 280,704 $ 453,052
DEJ 82,189 213,234
ALI 13,347 106,804
Others 19,768 20,024
Associates 3,122 2,000
$ 399,130 $ 795,114
The above pertain mainly to payments on behalf of others.
December 31, 2023 December 31, 2022
Other payables-related parties:
Subsidiaries
DEIL-SG $ 101,356 $ 69,984
Others 83,673 57,806
$ 185,029 $ 127,790

The above pertain mainly to triangular trade collections on behalf of others.

(3) Key management compensation
Years ended December 31,
2023 2022
Salaries and other short-term employee benefits $ 354,573 $ 306,489
Post-employment benefits 753 737
$ 355,326 $ 307,226

8. PLEDGED ASSETS
The Company’s assets pledged as collateral are as follows:

Book Value
December 31, December 31,
Pledged assets 2023 2022 Pledge purpose
Time deposits (shown as financial Warranty guarantee
assets at amortised cost - current) $ 187,900 $ 109,726
Time deposits (shown as other Performance guarantee
non-current assets) - 113,274
$ 187,900 $ 223,000

9. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNISED CONTRACT COMMITMENTS

(1) Contingencies
None.

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 (2) Commitments
Capital expenditures contracted for at the balance sheet date but not yet incurred are as follows:
December 31, 2023 December 31, 2022
Costs of computer software $ 182,744 $ 540,541
Property, plant and equipment 2,432,775 4,214,972
$ 2,615,519 $ 4,755,513

10. SIGNIFICANT DISASTER LOSS

None.
11. SIGNIFICANT EVENTS AFTER THE BALANCE SHEET DATE
(1) Information about the appropriation of 2023 earnings of the Company is provided in Note 6(18) E.
(2) On January 17, 2024, the Board of Directors of the Company approved the acquisition of technology
transfer of hydrogen stack, development licensing, engineering services and production capacity
expansion costs in response to the demand for sample stack from Ceres Power Limited with the total
amount of approximately GBP $43 million.
(3) On January 17, 2024, the Board of Directors of the Company approved the acquisition of real estate.
Consequently, the Company entered into an agreement with Nan Shan Life Insurance Company, Ltd.
for an amount of approximately $4,789 million on January 25, 2024.
12. OTHERS
(1) Capital risk management
The Company’s objectives when managing capital are to maintain an integrity credit rating and good
capital structure to support operations and maximize shareholders’ equity.
(2) Financial instruments
A. Financial instruments by category
Please refer to the parent company only balance sheets and Note 6 for related amounts and
information of the Company’s financial assets (financial assets at fair value through profit or
loss, financial assets at fair value through other comprehensive income, financial assets at
amortised cost, cash and cash equivalents, notes receivable, accounts receivable (including
related parties), other receivables (including related parties) and guarantee deposits paid) and
financial liabilities (accounts payable (including related parties), other payables (including
related parties), long-term borrowings (including current portion), guarantee deposits received
and lease liabilities (including current portion)).
B. Financial risk management policies
The Company’s activities expose it to a variety of financial risks: market risk (including foreign
exchange risk, interest rate risk and price risk), credit risk and liquidity risk. The Company’s
overall risk management programme focuses on the unpredictability of financial markets and
seeks to minimise potential adverse effects on the Company’s financial position and financial
performance.

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C. Significant financial risks and degrees of financial risks
(a) Market risk
Foreign exchange risk
i. The Company operates internationally and is exposed to foreign exchange risk arising
from various currency exposures, primarily with respect to the USD and EUR. Foreign
exchange risk arises from future commercial transactions, recognised assets and liabilities
and net investments in foreign operations.
ii. Management has set up a policy to manage its foreign exchange risk against the functional
currency. To manage the foreign exchange risk arising from future commercial
transactions and recognised assets and liabilities, the Company has co-worked with Delta
Group treasury to hedge by using forward foreign exchange contracts and foreign
exchange swap contracts.
iii. The Company’s businesses involve some non-functional currency operations. The
information on assets and liabilities denominated in foreign currencies whose values
would be materially affected by the exchange rate fluctuations is as follows:
December 31, 2023
Foreign currency
amount Exchange Book value
(in thousands) rate (NTD)
(Foreign currency: functional
currency)
Financial assets
Monetary items
USD:NTD $ 475,591 30.705 $ 14,603,019
EUR:NTD 15,796 33.980 536,753
Non-monetary items
USD:NTD $ 6,116,703 30.705 $ 187,813,361
THB:NTD 6,259,990 0.9017 5,644,633
Financial liabilities
Monetary items
USD:NTD $ 478,334 30.705 $ 14,687,236

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 December 31, 2022
Foreign currency
amount Exchange Book value
(in thousands) rate (NTD)
(Foreign currency: functional
currency)
Financial assets
Monetary items
USD:NTD $ 572,369 30.710 $ 17,577,440
EUR:NTD 23,124 32.720 756,621
Non-monetary items
USD:NTD $ 5,407,188 30.710 $ 166,054,750
THB:NTD 5,702,778 0.8941 5,098,854
Financial liabilities
Monetary items
USD:NTD $ 577,496 30.710 $ 17,734,912
EUR:NTD 17,433 32.720 570,413
iv. Total exchange gain (loss), including realised and unrealised, arising from significant
foreign exchange variation on the monetary items held by the Company for the years ended
December 31, 2023 and 2022 amounted to $123,509 and ($348,624), respectively.
v. Analysis of foreign currency market risk arising from significant foreign exchange
variation:
Year ended December 31, 2023
Sensitivity analysis
(Foreign currency: functional Degree of Effect on Effect on
currency) variation profit or loss comprehensive income
Financial assets
Monetary items
USD : NTD 1% $ 146,030 $ -
EUR : NTD 1% 5,368 -
Financial liabilities
Monetary items
USD : NTD 1% $ 146,872 $ -

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 Year ended December 31, 2022
Sensitivity analysis
(Foreign currency: functional Degree of Effect on Effect on
currency) variation profit or loss comprehensive income
Financial assets
Monetary items
USD : NTD 1% $ 175,774 $ -
EUR : NTD 1% 7,566 -
Financial liabilities
Monetary items
USD : NTD 1% $ 177,349 $ -
EUR : NTD 1% 5,704 -
Price risk
i. The Company’s equity securities, which are exposed to price risk, are the held financial
assets at fair value through profit or loss and financial assets at fair value through other
comprehensive income. To manage its price risk arising from investments in equity
securities, the Company diversifies its portfolio.
ii. The Company’s investments in equity securities comprise shares issued by the domestic
companies. The prices of equity securities would change due to the change of the future
value of investee companies. If the price of these equity securities had increased/decreased
by 1% with all other variables held constant, post-tax profit for the years ended December
31, 2023 and 2022 would have increased/decreased by $22,589 and $338, respectively, as
a result of gain/loss on equity securities classified as at fair value through profit or loss.
Other components of equity would have increased/decreased by $12,666 and $12,685,
respectively, as a result of other comprehensive income classified as equity investment at
fair value through other comprehensive income.
Cash flow and fair value interest rate risk
The Company’s main interest rate risk arises from long-term borrowings and bonds payable.
Borrowings issued at variable rates expose the Company to cash flow interest rate risk which
is partially offset by cash and cash equivalents held at variable rates. Borrowings and bonds
payable issued at fixed rates expose the Company to fair value interest rate risk. The
Company’s borrowings mainly bear variable interest rates and bonds payable bear fixed
interest rates. During 2023 and 2022, the Company’s borrowings at variable rates were
denominated in NTD and USD, and bonds payable at fixed rates were denominated in NTD.
On December 31, 2023 and 2022, if the interest rate increases by 0.25%, with all other
variables held constant, profit, net of tax for the years ended December 31, 2023 and 2022
would have decreased by $43,795 and $64,433, respectively. The main factor is that changes
in interest expense result from floating rate borrowings.

358
(b) Credit risk
i. Credit risk refers to the risk of financial loss to the Company arising from default by the
clients or counterparties of financial instruments on the contract obligations. The main
factor is that counterparties could not repay in full the accounts receivable based on the
agreed terms, and the contract cash flows of financial instruments which were settled in
accordance with trading conditions.
ii. According to the Company’s credit policy, each local entity in the Company is responsible
for managing and analysing the credit risk for each of their new clients before standard
payment and delivery terms and conditions are offered. Internal risk control assesses the
credit quality of the customers, taking into account their financial position, past experience
and other factors.
iii. Individual risk limits are set based on internal or external ratings in accordance with limits
set by the credit controller. The utilisation of credit limits is regularly monitored.
iv. For banks and financial institutions, only well rated parties are accepted.
v. The Company adopts the assumption under IFRS 9, that is, if the contract payments are
past due over 180 days based on the terms, there has been a significant increase in credit
risk on that instrument since initial recognition.
vi. The Company adopts the assumption under IFRS 9, that is, the default occurs when the
contract payments are not expected to be recovered and are transferred to overdue
receivables.
vii. The Company classifies customers’ accounts receivable and contract assets in accordance
with customer types. The Company applies the simplified approach using the provision
matrix and loss rate methodology to estimate expected credit loss.
viii. The Company uses the forecastability to adjust historical and timely information to assess
the default possibility of accounts receivable and contract assets. There were no contract
assets past due on December 31, 2023 and 2022. On December 31, 2023 and 2022, the
provision matrix of accounts receivable is as follows:
Not past due 1-90 days past due 91-180 days past due
At December 31, 2023
Expected loss rate 0.00% 1.84% 25.00%
Total book value $ 5,131,945 $ 1,294,958 $ 4,356
Loss allowance $ - $ 23,806 $ 1,089

181-365 days Over 366 days

past due past due Total
Expected loss rate 50.00% 100.00%
Total book value $ 18,520 $ 7,526 $ 6,457,305
Loss allowance $ 9,260 $ 7,526 $ 41,681

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 Not past due 1-90 days past due 91-180 days past due
At December 31, 2022
Expected loss rate 0.00% 1.93% 25.00%
Total book value $ 8,559,156 $ 738,862 $ 70,946
Loss allowance $ - $ 14,285 $ 17,735

181-365 days Over 366 days

past due past due Total
Expected loss rate 49.99% 100.00%
Total book value $ 23,557 $ 4,586 $ 9,397,107
Loss allowance $ 11,777 $ 4,586 $ 48,383

ix. Movements in relation to the Company applying the simplified approach to provide loss
allowance for notes receivable, accounts receivable, contract assets and overdue
receivables are as follows:
2023
Notes Accounts Contract Overdue
receivable receivable assets receivables Total
At January 1 $ - $ 48,383 $ - $ 4,298 $ 52,681
Reclassification - ( 1,035) - 1,035 -
Provision for impairment - - - 2,745 2,745
Reversal of impairment loss - ( 7,505) - - ( 7,505)
Write-offs - - - ( 187) ( 187)
Others - 1,838 - - 1,838
At December 31 $ - $ 41,681 $ - $ 7,891 $ 49,572
2022
Notes Accounts Contract Overdue
receivable receivable assets receivables Total
At January 1 $ - $ 12,611 $ - $ 10,946 $ 23,557
Reclassification - ( 4,111) - 4,111 -
Provision for impairment - 40,712 - - 40,712
Reversal of impairment loss - - - ( 3,840) ( 3,840)
Write-offs - ( 829) - ( 7,418) ( 8,247)
Others - - - 499 499
At December 31 $ - $ 48,383 $ - $ 4,298 $ 52,681

For provisioned loss for the years ended December 31, 2023 and 2022, the reversal of
(provision for) impairment losses arising from customers’ contracts amounted to $4,760
and ($36,872), respectively.
(c) Liquidity risk
i. Company treasury monitors rolling forecasts of the Company’s liquidity requirements to
ensure it has sufficient cash to meet operational needs.
ii. The table below analyses the Company’s non-derivative financial liabilities and net-settled
or gross-settled derivative financial liabilities into relevant maturity groupings based on
the remaining period at the balance sheet date to the contractual maturity date for non-
derivative financial liabilities:

360
 Non-derivative financial liabilities:
Less than Between 1 Between 2 Over
December 31, 2023 1 year and 2 years and 5 years 5 years
Accounts payable
(including related parties) $ 11,830,377 $ - $ - $ -
Other payables
(including related parties) 19,437,273 - - -
Lease liabilities
(including current portion) 91,039 71,229 78,166 343,806
Bonds payable 406,300 5,389,019 23,661,759 701,692
Long-term borrowings
(including current portion) 2,653,285 20,375,508 1,537,983 -
Non-derivative financial liabilities:
Less than Between 1 Between 2 Over
December 31, 2022 1 year and 2 years and 5 years 5 years
Accounts payable
(including related parties) $ 17,199,437 $ - $ - $ -
Other payables
(including related parties) 16,029,252 - - -
Lease liabilities
(including current portion) 60,844 56,226 109,391 401,879
Bonds payable 128,950 128,950 11,087,747 707,992
Long-term borrowings 149,704 30,440,758 1,818,534 -
iii. The Company does not expect the timing of occurrence of the cash flows estimated
through the maturity date analysis to be significantly earlier, nor expect the actual cash
flow amount to be significantly different.
(3) Fair value information
A. The different levels that the inputs to valuation techniques are used to measure fair value of
financial and non-financial instruments have been defined as follows:
Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the
entity can access at the measurement date. A market is regarded as active where a
market in which transactions for the asset or liability take place with sufficient
frequency and volume to provide pricing information on an ongoing basis.
Level 2: Inputs other than quoted prices included within Level 1 that are observable for the
asset or liability, either directly or indirectly.
Level 3: Unobservable inputs for the asset or liability.
B. The carrying amounts of financial instruments not measured at fair value including cash and cash
equivalents, notes receivable, accounts receivable, short-term borrowings, other receivables,
accounts payable, other payables and long-term borrowings are approximate to their fair values.

361
C. The related information on financial and non-financial instruments measured at fair value by
level on the basis of the nature, characteristics and risks of the assets and liabilities is as follows:
December 31, 2023 Level 1 Level 2 Level 3 Total
Assets
Recurring fair value measurements
Financial assets at fair value
through profit or loss
Equity instruments $ 2,258,892 $ - $ - $ 2,258,892
Financial assets at fair value
through other comprehensive income
Equity instruments 1,266,616 - 85,569 1,352,185
$ 3,525,508 $ - $ 85,569 $ 3,611,077

December 31, 2022 Level 1 Level 2 Level 3 Total

Assets
Recurring fair value measurements
Financial assets at fair value
through profit or loss
Equity instruments $ 33,824 $ - $ - $ 33,824
Hybrid instruments - 900,000 - 900,000
Financial assets at fair value
through other comprehensive income
Equity instruments 1,268,502 - 75,112 1,343,614
$ 1,302,326 $ 900,000 $ 75,112 $ 2,277,438

D. The methods and assumptions that the Company used to measure fair value are as follows:
(a) The instruments that the Company used market quoted prices as their fair values (that is,
Level 1) are listed below by characteristics:
Listed shares
Market quoted price Closing price
(b) Except for financial instruments with active markets, the fair value of other financial
instruments is measured by using valuation techniques that are approved for financial
management.
(c) When assessing non-standard and low-complexity financial instruments, the Company
adopts valuation technique that is widely used by market participants. The inputs used in the
valuation method to measure these financial instruments are normally observable in the
market.
(d) The output of valuation model is an estimated value and the valuation technique may not be
able to capture all relevant factors of the Company’s financial and non-financial instruments.
Therefore, the estimated value derived using the valuation model is adjusted accordingly with
additional inputs. In accordance with the Company’s management policies and relevant
control procedures relating to the valuation models used for fair value measurement,

362
 management believes adjustment to valuation is necessary in order to reasonably represent
the fair value of financial and non-financial instruments at the parent company only balance
sheet. The inputs and pricing information used during valuation are carefully assessed and
adjusted based on current market conditions.
(e) The Company takes into account adjustments for credit risks to measure the fair value of
financial and non-financial instruments to reflect credit risk of the counterparty.
E. In October 2023, the Company converted the convertible bonds of Lanner Electronics Inc. into
common stock. Therefore, the Company transferred the fair value from Level 2 to Level 1 at the
end of the month when the event occurred. For the year ended December 31, 2022, there was no
transfer between Level 1 and Level 2.
F. The following chart is the movement of Level 3 for the years ended December 31, 2023 and
2022:
2023 2022
Equity securities Equity securities
At January 1 $ 75,112 $ 82,176
Losses recognised in other comprehensive
income ( 2,703) -
Gains recognised in profit or loss - 189
Acquired during the year 13,160 -
Disposals during the year - ( 4,774)
Others - ( 2,479)
At December 31 $ 85,569 $ 75,112
G. Investment department is in charge of valuation procedures for fair value measurements being
categorised within Level 3, which is to verify independent fair value of financial instruments.
Such assessment is to ensure the valuation results are reasonable by applying independent
information to make results close to current market conditions and periodical review.
The capital department establishes valuation policies, valuation processes and ensures
compliance with the related requirements in IFRS. The related valuation results are reported to
the management monthly. The management is responsible for managing and reviewing valuation
processes.
H. The following is the quantitative information of significant unobservable inputs and sensitivity
analysis of changes in significant unobservable inputs to valuation model used in Level 3 fair
value measurement:

363
 Fair value at Significant Range Relationship
December 31, Valuation unobservable (weighted of inputs to
2023 technique input average) fair value
Non-derivative equity
instruments:
Unlisted shares $ 72,518 Most recent Not applicable - Not applicable
non-active
market price
13,051 Market Price to book 1.38~3.90 The higher the
comparable ratio multiple (1.99) multiple, the higher
companies the fair value; the
higher the discount
for lack of
marketability, the
lower the fair value

Fair value at Significant Range Relationship

December 31, Valuation unobservable (weighted of inputs to
2022 technique input average) fair value
Non-derivative equity
instruments:
Unlisted shares $ 60,402 Most recent Not applicable - Not applicable
non-active
market price
14,710 Market Price to book 1.44~3.50 The higher the
comparable ratio multiple (1.98) multiple, the higher
companies the fair value; the
higher the discount
for lack of
marketability, the
lower the fair value

I. The Company’s valuation techniques are based on the most recent non-active market price after
carefully assessing the valuation models and assumptions used to measure fair value. However,
use of different valuation models or assumptions may result in different measurement. The
following is the effect on profit or loss or on other comprehensive income from financial assets
categorised within Level 3 for the years ended December 31, 2023 and 2022 if the inputs used to
valuation models have changed:

364
 December 31, 2023
Recognised in Recognised in other
profit or loss comprehensive income (loss)
Favorable Unfavorable Favorable Unfavorable
Input Change change change change change
Financial assets
Equity Discount for ± 1% $ - $ - $ 266 ($ 266)
instruments lack of
marketability
December 31, 2022
Recognised in Recognised in other
profit or loss comprehensive income (loss)
Favorable Unfavorable Favorable Unfavorable
Input Change change change change change
Financial assets
Equity Discount for ± 1% $ - $ - $ 264 ($ 264)
instruments lack of
marketability

13. SUPPLEMENTARY DISCLOSURES

(1) Significant transactions information
A. Loans to others: Please refer to table 1.
B. Provision of endorsements and guarantees to others: Please refer to table 2.
C. Holding of marketable securities at the end of the period (not including subsidiaries, associates
and joint ventures): Please refer to table 3.
D. Acquisition or sale of the same security with the accumulated cost exceeding $300 million or
20% of the Company’s paid-in capital: Please refer to table 4.
E. Acquisition of real estate reaching $300 million or 20% of paid-in capital or more: Please refer
to table 5.
F. Disposal of real estate reaching $300 million or 20% of paid-in capital or more: None.
G. Purchases or sales of goods from or to related parties reaching $100 million or 20% of paid-in
capital or more: Please refer to table 6.
H. Receivables from related parties reaching $100 million or 20% of paid-in capital or more: Please
refer to table 7.
I. Trading in derivative instruments undertaken during the reporting periods: Please refer to Notes
6(2), 6(4) and 12(2) in the 2023 consolidated financial statements.
J. Significant inter-company transactions during the reporting periods: Please refer to table 8.
(2) Information on investees
Names, locations and other information of investee companies (not including investees in Mainland
China): Please refer to table 9.

365
 (3) Information on investments in Mainland China
A. Basic information: Please refer to table 10.
B. Significant transactions, either directly or indirectly through a third area, with investee companies
in the Mainland China: Please refer to table 6, 7 and 8 for significant transactions of purchases,
sales, receivables and payables of investee companies in the Mainland China, and transactions
between the Company indirectly through investees in a third area, Delta Electronics Int'l
(Singapore) Pte. Ltd. (DEIL-SG), with investee companies in the Mainland China, for the year
ended December 31, 2023.
(4) Major shareholders information
Major shareholders information: Please refer to table 11.
14. OPERATING SEGMENT INFORMATION
Refer to the consolidated financial statements of the Company and subsidiaries for the operating
segment information.

366
 DELTA ELECTRONICS, INC.
DETAILS OF CASH AND CASH EQUIVALENTS
DECEMBER 31, 2023
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

Items Summary Amount Note

Cash on hand and revolving funds $ 2,715

Demand deposits 941,368

Foreign exchange deposits (USD 35,654 thousand, exchange rate: 30.705) 1,094,746

(EUR 1,512 thousand, exchange rate: 33.980) 51,391

(JPY 207,124 thousand, exchange rate: 0.2172) 44,987

(HKD 8,820 thousand, exchange rate: 3.929) 34,653

(RMB 3,640 thousand, exchange rate: 4.32629) 15,749

Checking accounts deposits 467

$ 2,186,076

367
 DELTA ELECTRONICS, INC.
STATEMENT OF FINANCIAL ASSETS MEASURED AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT
DECEMBER 31, 2023
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

Name of Financial Fair Value

Instrument Description Shares Face Value Total Amount Cost Unit Price Total Amount Note
Lanner Electronics Inc. Common stock 19,723,865 $ 10 $ 197,239 $ 900,000 $ 112.50 $ 2,218,935

368
 DELTA ELECTRONICS, INC.
DETAILS OF ACCOUNTS RECEIVABLE
DECEMBER 31, 2023
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

Customer name Summary Amount Note

A Company $ 686,051

B Company 462,641

C Company 399,000

D Company 381,877

The balance of each customer has not

Others (Note) 4,527,736 exceeded 5% of accounts receivable.

6,457,305
Less: Allowance for
bad debts ( 41,681)

$ 6,415,624

Note: The accounts receivable past due over one year amounted to $7,526 for which the Company has
recognised allowance for doubtful accounts.

369
 DELTA ELECTRONICS, INC.
DETAILS OF INVENTORIES
DECEMBER 31, 2023
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

Amount

Items Cost Market value Note

The net realisable value is
Raw materials $ 7,323,415 $ 7,308,062 the net market value.

Work in process 904,063 904,063 〃

Finished goods 3,668,007 4,229,912 〃

Inventory in transit 383,845 383,845 〃

$ 12,279,330 $ 12,825,882

Note: As at December 31, 2023, the amount of loss on market value decline and obsolete and
slow-moving inventories is $4,277,256.

370
 DELTA ELECTRONICS, INC.
MOVEMENT SUMMARY OF INVESTMENTS ACCOUNTED FOR UNDER EQUITY METHOD
YEAR ENDED DECEMBER 31, 2023
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Opening balance Additions Reductions Ending balance Market price or value per share

Number of shares Number of shares Amount Number of shares Amount Number of shares Price For collateralize
Investee (Note 1) Amount (Note 1) (Note 2) (Note 1) (Note 2) (Note 1) Ownership (%) Amount (in NTD) Total price and pledge Footnote
Delta International Holding Limited
67,680 $ 76,736,635 - $ 6,125,044 - $ - 67,680 100.00 $ 82,861,679 $ 1,222.49 $ 82,737,869 None
B.V.
Cyntec Co., Ltd. 2,341,204 37,441,523 - 624,943 - - 2,341,204 100.00 38,066,466 13.98 32,733,736 〃

Delta Networks Holding Limited 83,800 2,160,582 - - ( 83,800) ( 2,158,157) - 100.00 2,425 3,558,000.00 3,558 〃

Delta Electronics Int'l (Singapore)

45,234 60,943,728 - 11,346,751 - - 45,234 100.00 72,290,479 1,636.44 74,022,882 〃
Pte. Ltd.

Delta Electronics (Thailand) Public

69,128 5,098,854 622,153 545,779 - - 691,281 5.54 5,644,633 79.35 54,852,903 〃
Company Limited

Delta Electronics Capital Company 391,967 3,937,867 - 751,599 - - 391,967 100.00 4,689,466 11.96 4,689,466 〃

Delta Electronics (Netherlands) B.V. 128,492 26,143,999 - 6,278,091 - - 128,492 100.00 32,422,090 268.87 34,547,386 〃

DelBio Inc. 21,762 183,797 - - - ( 51,103) 21,762 100.00 132,694 6.10 132,694 〃

Delta America Ltd. 2,100 69,806 - 166,882 - - 2,100 10.26 236,688 210.36 441,754 〃

Vivotec Inc. 49,128 4,497,416 - - - ( 51,600) 49,128 56.75 4,445,816 163.00 10,410,235 〃

Chunghwa SEA Holdings 〃

880 8,349 - - - ( 185) 880 44.00 8,164 9.28 8,164
Delmind Inc. 〃
21,000 195,819 - - - ( 9,183) 21,000 70.00 186,636 8.89 186,636
Ancora Semiconductors Inc. 〃
37,000 386,576 - - - ( 176,778) 37,000 67.03 209,798 9.80 362,436
Delta Energy Inc. 〃
- - 20,000 188,277 - - 20,000 100.00 188,277 9.41 188,277
Atrust Computer Corporation 〃
- - 28,825 949,711 - - 28,825 55.02 949,711 8.54 246,146
Power Forest Technology
- - 5,000 39,095 - - 5,000 21.20 39,095 7.23 36,128 〃
Corporation
Total $ 217,804,951 $ 27,016,172 ($ 2,447,006) $ 242,374,117 $ 295,600,270

Note 1: Shares in thousands.

Note 2: Including cash capital increase, investment income or loss recognised, adjustments in changes of net value and cash dividends received during the year.

371
 DELTA ELECTRONICS, INC.
MOVEMENT SUMMARY OF PROPERTY, PLANT AND EQUIPMENT
AND ACCUMULATED DEPRECIATION
YEAR ENDED DECEMBER 31, 2023
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Please refer to Note 6(7).

372
 DELTA ELECTRONICS, INC.
DETAILS OF LONG-TERM BORROWINGS
DECEMBER 31, 2023
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Collateralize or
Creditor Summary Ending balance Contract period Interest Rate pledge Note

Citibank Credit Loans $ 5,440,000 2023.12.12~2025.12.11 1.53%~1.58% None -

DBS Bank, Ltd. 〃 7,768,830 2023.10.05~2025.10.04 1.57%~5.96% 〃 -

CTBC Bank Co., Ltd. 〃 3,690,000 2023.10.01~2025.09.30 1.33%~1.53% 〃 -

TFB Bank, Ltd. 〃 3,452,690 2023.06.16~2025.06.16 1.58%~5.931% 〃 -

HSBC Bank, Ltd. 〃 1,950,000 2022.11.14~2026.01.04 1.49% 〃 -

Taishin International Bank 〃 2,085,928 2023.07.31~2026.07.31 1.06%~1.26% 〃 -

24,387,448
Less：Current portion ( 2,490,095)

$ 21,897,353

373
 DELTA ELECTRONICS, INC.
STATEMENT OF BONDS PAYABLE
DECEMBER 31, 2023
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Amount

Interest Unamortized
Issuance Payment Coupon Total Issuance Repayment Ending Premiums Carrying
Bonds Name Trustee Date Date Rate Amount Paid Balance (Discounts) Amount Repayment Term Collateral Note

2022 first unsecured ordinary Principal is payable in

corporate bonds - Tranche A CTBC Bank Co., Ltd. 2022/4/7 Note(1) 0.85 $ 5,900,000 $ - $ 5,900,000 $ - $ 5,900,000 full at maturity None

2022 first unsecured ordinary

corporate bonds - Tranche B 〃 2022/4/7 Note(1) 0.9 700,000 - 700,000 - 700,000 〃 〃

2022 second unsecured ordinary

corporate bonds 〃 2022/10/5 Note(1) 1.45 5,000,000 - 5,000,000 - 5,000,000 〃 〃

2023 first unsecured ordinary

corporate bonds 〃 2023/1/12 Note(1) 1.83 5,000,000 - 5,000,000 - 5,000,000 〃 〃

2023 second unsecured ordinary

corporate bonds - Tranche A 〃 2023/4/27 Note(1) 1.43 3,000,000 - 3,000,000 - 3,000,000 〃 〃

2023 second unsecured ordinary

corporate bonds - Tranche B 〃 2023/4/27 Note(1) 1.53 3,500,000 - 3,500,000 - 3,500,000 〃 〃
2023 third unsecured ordinary
corporate bonds 〃 2023/6/5 Note(1) 1.49 6,000,000 - 6,000,000 - 6,000,000 〃 〃

$ 29,100,000 $ 29,100,000
Note 1: Interest is repayable annually at simple coupon rate from the issuance date.

374
 DELTA ELECTRONICS, INC.
DETAILS OF OPERATING REVENUE
YEAR ENDED DECEMBER 31, 2023
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Items Amount Note

Power electronics $ 15,463,818
Automation 9,871,903
Infrastructure 31,875,969
Others 125,946
Sales revenue 57,337,636
Service revenue 25,322,698
Other operating revenue 4,206,292
Total operating revenue $ 86,866,626

375
 DELTA ELECTRONICS, INC.
DETAILS OF OPERATING COST
YEAR ENDED DECEMBER 31, 2023
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Amount
Raw materials at beginning $ 7,741,128
Add: Materials purchased for the year 22,522,743
Less: Raw materials at the end ( 7,323,415)
Raw materials in transit ( 169,919)
Cost of raw material sales ( 1,431,320)
Scrapped raw materials ( 200,440)
Transferred to manufacturing or operating expenses ( 211,800)
Direct materials 20,926,977
Direct labor 1,075,571
Manufacturing overhead 3,264,274
Manufacturing cost for the year 25,266,822
Add: Work in progress at the beginning 875,645
Less: Work in progress at the end ( 904,063)
Cost of finished goods for the year 25,238,404
Add: Finished goods at the beginning 3,380,423
Finished goods purchases for the year 20,118,653
Less: Finished goods at the end ( 3,668,007)
Finished goods in transit ( 213,926)
Scrapped finished goods ( 103,279)
Transferred to manufacturing overheads or operating expenses ( 293,543)
Cost of goods manufactured and sold 44,458,725
Loss on market value decline and obsolete and slow-moving inventories 1,844,705
Others ( 60,446)
Cost of goods sold 46,242,984
Cost of raw material sales 1,431,320
Cost of services 6,376,436
Other operating costs 3,626,405
Operating costs $ 57,677,145

376
 DELTA ELECTRONICS, INC.
DETAILS OF MANUFACTURING OVERHEAD
YEAR ENDED DECEMBER 31, 2023
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Items Amount Note

Salaries and Wages $ 1,314,281

Depreciation 930,182
The balance of each expense account has not
Others 1,019,811 exceeded 5% of manufacturing overhead.

Total $ 3,264,274

377
 DELTA ELECTRONICS, INC.
DETAILS OF SELLING EXPENSES
YEAR ENDED DECEMBER 31, 2023
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Items Amount Note

Wages and Salaries $ 945,631

Freight 154,995
The balance of each expense account has not
Others 373,903 exceeded 5% of selling expenses.

Total $ 1,474,529

378
 DELTA ELECTRONICS, INC.
DETAILS OF GENERAL AND ADMINISTRATIVE EXPENSES
YEAR ENDED DECEMBER 31, 2023
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Items Amount Note

Salaries and Wages $ 1,321,695

Depreciation 601,002
The balance of each expense account has not
exceeded 5% of general and administrative
Others 1,359,655 expenses.

Total $ 3,282,352

379
 DELTA ELECTRONICS, INC.
DETAILS OF RESEARCH AND DEVELOPMENT EXPENSES
YEAR ENDED DECEMBER 31, 2023
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Items Amount Note

Salaries and Wages $ 12,341,939

Depreciation 903,894
The balance of each expense account has not
exceeded 5% of research and development
Others 4,524,398 expenses.

Total $ 17,770,231

380
 DELTA ELECTRONICS, INC.
DETAILS OF LABOR, DEPRECIATION AND AMORTISATION BY FUNCTION
YEARS ENDED DECEMBER 31, 2023 AND 2022
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Function 2023 2022

Classified as Classified as Classified as Classified as

Total Total
Nature operating costs operating expenses operating costs operating expenses
Employee benefit expense
Salaries and Wages 4,853,138 14,609,265 19,462,403 4,011,218 13,306,562 17,317,780
Labor and Health insurance 311,958 874,512 1,186,470 253,256 760,312 1,013,568
Pension 65,653 554,742 620,395 51,327 468,691 520,018
Directors' remuneration - 120,587 120,587 - 55,408 55,408
Others 423,503 535,256 958,759 308,532 353,597 662,129
Depreciation 930,182 1,524,575 2,454,757 686,841 1,451,381 2,138,222
Amortisation 4,585 476,687 481,272 3,816 575,782 579,598
Note: A. As at December 31, 2023 and 2022, the number of the Company's employees were 11,825 and 10,664 (excluding overseas employees), including 7 and 7
non-employee directors, respectively.
B. For the entity that its shares are listed on the Taiwan Stock Exchange or traded in the Taipei Exchange, the following additional disclosures are required:
(a) The average employee benefit expense for the current year was $1,881 thousand (‘total employee benefit expense for the current year – total directors’
remuneration / ‘the number of employees in the current year – the number of non-employee directors). The average employee benefit expense
for the previous year was $1,831 thousand (‘total employee benefit expense for the previous year – total directors’ remuneration’ /
‘the number of employees in the previous year – the number of non-employee directors).
(b) The average employee salaries and wages for the current year was $1,647 thousand (total salaries and wages for the current year / ‘the number of
employees in the current year - the number of non-employee directors’). The average employee salaries and wages for the previous year was
$1,625 thousand (total salaries and wages for the previous year /‘the number of employees in the previous year - the number of non-employee directors.
(c) The variation in the adjustments of the average employee salaries and wages was 1.35%. (‘the average employee salaries and wages for the current year
- the average employee salaries and wages for the previous year’ / 'the average employee salaries and wages for the previous year').
(d) Please refer to Note 6(25)A. for the Company’s compensation policy.

381
 Delta Electronics, Inc. and Subsidiaries
Loans to others
Year ended December 31, 2023
Table 1 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Maximum
outstanding
balance during the Amount of
Is a year ended Balance at Nature of transactions Reason for Allowance Collateral Limit on loans
No. General ledger related December 31, December 31, Actual amount Interest loan with the short-term for doubtful granted to a Ceiling on total
(Note 1) Creditor Borrower account party 2023 (Note 2) 2023 drawn down rate (Note 6) borrower financing accounts Item Value single party loans granted Footnote
1 Fairview Assets Ltd. Delta Controls Inc. Other receivables Yes $ 2,855,565 $2,579,220 $ 1,565,955 5.43% 2 $ - Additional $ - None $ - $ 33,276,886 $ 33,276,886 Note 5
- related parties operating
capital
1 Fairview Assets Ltd. Delta Electronics Int'l Other receivables Yes 18,776,108 11,667,900 11,667,900 5.43% 2 - Additional - None - 33,276,886 33,276,886 Note 5
(Singapore) Pte. Ltd. - related parties operating
capital
1 Fairview Assets Ltd. Delta Electronics (H.K.) Other receivables Yes 9,672,075 9,672,075 9,672,075 5.43% 2 - Additional - None - 33,276,886 33,276,886 Note 5
Ltd. - related parties operating
capital
2 Delta International Delta Electronics Other receivables Yes 14,431,350 767,625 767,625 5.43% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. (Netherlands) B.V. - related parties operating
capital
2 Delta International Drake Investment (HK) Other receivables Yes 767,625 - - 5.43% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. Limited - related parties operating
capital
2 Delta International Delta Electronics (H.K.) Other receivables Yes 13,510,200 13,141,740 13,141,740 5.43% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. Ltd. - related parties operating
capital
2 Delta International Delta Controls Inc. Other receivables Yes 429,870 429,870 429,870 5.43% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. - related parties operating
capital
2 Delta International Digital Projection Inc. Other receivables Yes 70,622 - - 5.43% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. - related parties operating
capital
2 Delta International Amerlux, LLC Other receivables Yes 951,855 829,035 829,035 5.43% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. - related parties operating
capital
2 Delta International Delta Electronics (USA) Other receivables Yes 921,150 859,740 859,740 5.43% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. Inc. - related parties operating
capital
2 Delta International TB&C Outsert Center Other receivables Yes 67,960 - - 4.45% 2 - Additional - None - 82,737,869 82,737,869 Note 5
Holding Limited B.V. GmbH - related parties operating
capital
3 DELTA ELECTRONICS Delta Electronics Other receivables Yes 61,600 - - 3.80% 2 - Additional - None - 3,681,570 3,681,570 Note 5
(NORWAY) AS (Sweden) AB - related parties operating
capital

382
 Maximum
outstanding
balance during the Amount of
Is a year ended Balance at Nature of transactions Reason for Allowance Collateral Limit on loans
No. General ledger related December 31, December 31, Actual amount Interest loan with the short-term for doubtful granted to a Ceiling on total
(Note 1) Creditor Borrower account party 2023 (Note 2) 2023 drawn down rate (Note 6) borrower financing accounts Item Value single party loans granted Footnote
3 DELTA ELECTRONICS Delta Electronics Other receivables Yes $ 66,938 $ 43,313 $ 43,313 6.30% 2 $ - Additional $ - None $ - $ 3,681,570 $ 3,681,570 Note 5
(NORWAY) AS (Poland) Sp. z o.o. - related parties operating
capital
3 DELTA ELECTRONICS Eltek s.r.o. Other receivables Yes 329,606 329,606 329,606 4.45% 2 - Additional - None - 3,681,570 3,681,570 Note 5
(NORWAY) AS - related parties operating
capital
3 DELTA ELECTRONICS Delta Electronics Other receivables Yes 407,760 407,760 407,760 4.45% 2 - Additional - None - 3,681,570 3,681,570 Note 5
(NORWAY) AS (Slovakia) s.r.o. - related parties operating
capital
4 Delta Electronics Delta Electronics Other receivables Yes 1,514,202 1,514,202 1,514,202 4.65% 2 - Additional - None - 4,414,060 4,414,060 Note 5
(Wuhu) Co., Ltd. (Jiangsu) Ltd. - related parties operating
capital
5 Delta Energy Systems Delta Energy Systems Other receivables Yes 377,178 368,683 368,683 0.40% 2 - Additional - None - 1,213,868 1,213,868 Note 5
(Germany) GmbH Property (Germany) - related parties operating
GmbH capital
5 Delta Energy Systems Delta Electronics Other receivables Yes 509,700 509,700 509,700 4.45% 2 - Additional - None - 1,213,868 1,213,868 Note 5
(Germany) GmbH (Slovakia) s.r.o. - related parties operating
capital
6 DET International Delta Electronics India Other receivables Yes 2,394,990 2,394,990 2,394,990 1.7%- 2 - Additional - None - 7,992,372 7,992,372 Note 5
Holding B.V. Pvt. Ltd. - related parties 4% operating
capital
7 Delta Greentech Eltek s.r.o. Other receivables Yes 237,860 - - 4.45% 2 - Additional - None - 1,189,221 1,189,221 Note 5
(Netherlands) B.V. - related parties operating
capital
8 Delta Electronics Cyntec Electronics Other receivables Yes 1,965,866 951,784 951,784 3.70% 2 - Additional - None - 7,184,268 7,184,268 Note 5
(Shanghai) Co., Ltd. (WuHu) Co., Ltd. - related parties operating
capital
8 Delta Electronics Delta Electronics Other receivables Yes 1,903,568 605,681 605,681 4.45% 2 - Additional - None - 7,184,268 7,184,268 Note 5
(Shanghai) Co., Ltd. (Chongqing) Ltd. - related parties operating
capital
8 Delta Electronics Cyntec Electronics Other receivables Yes 865,258 - - 3.70% 2 - Additional - None - 7,184,268 7,184,268 Note 5
(Shanghai) Co., Ltd. (Suzhou) Co., Ltd. - related parties operating
capital
9 Delta Electronics Delta Green Industrial Other receivables Yes 90,170 - - 2.40% 2 - Additional - None - 60,284,130 60,284,130 Note 5
(Thailand) Public (Thailand) Co., Ltd. - related parties operating
Company Limited capital

383
 Maximum
outstanding
balance during the Amount of
Is a year ended Balance at Nature of transactions Reason for Allowance Collateral Limit on loans
No. General ledger related December 31, December 31, Actual amount Interest loan with the short-term for doubtful granted to a Ceiling on total
(Note 1) Creditor Borrower account party 2023 (Note 2) 2023 drawn down rate (Note 6) borrower financing accounts Item Value single party loans granted Footnote
10 Vivotek USA, Inc. Wellstates Investment, Other receivables Yes $ 33,428 $ 29,146 $ 29,146 3.90% 2 $ - Additional $ - None $ - $ 408,245 $ 408,245 Note 5
LLC - related parties operating
capital
11 Universal Instruments Universal Instruments Other receivables Yes 201,934 151,451 151,451 0.00% 2 - Additional - None - 2,764,558 2,764,558 Note 5
Corporation Mfg.(Shenzhen) Co. Ltd. - related parties operating
capital
11 Universal Instruments Universal Instruments Other receivables Yes 42,607 42,607 42,607 5.50% 2 - Additional - None - 2,764,558 2,764,558 Note 5
Corporation (Hong Kong) Limited - related parties operating
capital
12 TB&C Holding GmbH TB&C Outsert Other receivables Yes 41,134 - - 4.20% 2 - Additional - None - 965,515 965,515 Note 5
International B.V. - related parties operating
capital
13 TB&C Outsert TB&C Outsert Romania Other receivables Yes 145,000 - - 2.0%- 2 - Additional - None - 750,800 750,800 Note 5
International B.V. SRL - related parties 5.425% operating
capital
14 TB&C Outsert Mexico, TB&C Outsert Other receivables Yes 78,327 78,327 78,327 4.00% 2 - Additional - None - 716,097 716,097 Note 5
S. De R.L. DE C.V. International B.V. - related parties operating
capital
Note 1: The numbers filled in for the loans provided by the Company or subsidiaries are as follows:

Note 2: Maximum outstanding balance during the current period was translated into New Taiwan dollars using the exchange rate at December 31, 2023, which the Company reported to the Securities and Futures Bureau.

on the latest audited or reviewed financial statements.

on the latest audited or reviewed financial statements.

Note 6: Nature of loans:

(1) Business transaction: 1.
(2) Short-term financing: 2.

384
 Delta Electronics, Inc. and Subsidiaries
Provision of endorsements and guarantees to others
Year ended December 31, 2023
Table 2 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Party being endorsed/guaranteed Maximum Outstanding Ratio of accumulated Ceiling on Provision of Provision of
Relationship Limit on outstanding endorsement / Amount of endorsement / total amount Provision of endorsements endorsements /
with the endorsements / endorsement / guarantee Actual endorsements / guarantee amount to net of endorsements / / guarantees guarantees to
endorser / guarantees guarantee amount amount at amount guarantees asset value of the endorsements / guarantees by by subsidiary the party in
Number guarantor provided for a as at December December 31, drawn secured with endorser / guarantor guarantees parent company to parent Mainland
(Note 1) Endorser / guarantor Company name (Note 6) single party 31, 2023 2023 down collateral company provided to subsidiary company China Footnote
1 DELTA Delta Electronics 4 $ 1,104,471 $ 138,173 $ 138,173 $ 138,173 $ - 0.07% $ 1,104,471 N N N Note 2
ELECTRONICS (Australia) Pty Ltd
(NORWAY) AS

2 March Networks March Networks, 2 131,545 14,738 14,738 14,738 - 0.01% 263,090 N N N Note 3
Holdings Ltd. Inc.

3 TB&C Holding TB&C Outsert 2 48,276 22,214 22,214 22,214 - 0.01% 48,276 N N N Note 4
GmbH Romania SRL

4 TB&C Outsert TB&C Outsert 2 262,780 233,849 233,849 233,849 - 0.12% 262,780 N N N Note 5
International B.V. Mexico, S. De R.L.
DE C.V.

Note 1: The numbers filled in for the endorsements/guarantees provided by the Company or subsidiaries are as follows:

Note 6: Relationship between the endorser/guarantor and the party being endorsed/guaranteed is classified into the following seven categories:
(1) Having business relationship.
(2) The endorser/guarantor parent company owns directly and indirectly more than 50% voting shares of the endorsed/guaranteed subsidiary.
(3) The endorsed/guaranteed company owns directly and indirectly more than 50% voting shares of the endorser/guarantor parent company.
(4) The endorser/guarantor parent company owns directly and indirectly more than 90% voting shares of the endorsed/guaranteed company.
(5) Mutual guarantee of the trade made by the endorsed/guaranteed company or joint contractor as required under the construction contract.
(6) Due to joint venture, all shareholders provide endorsements/guarantees to the endorsed/guaranteed company in proportion to its ownership.
(7) Joint guarantee of the performance guarantee for pre-sold home sales contract as required under the Consumer Protection Act.

385
 Delta Electronics, Inc. and Subsidiaries
Holding of marketable securities at the end of the period (not including subsidiaries, associates and joint ventures)
December 31, 2023
Table 3 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

As at December 31, 2023

Relationship with the Number of Ownership
Securities held by Marketable securities securities issuer General ledger account shares Book value (%) Fair value Footnote
Delta Electronics, Inc. United Renewable Energy Co., Ltd. None Financial assets at fair value through other 31,294,379 $ 460,027 1.92% $ 460,027
common stock comprehensive income - non-current

Delta Electronics, Inc. Lanner Electronics Inc. common stock None Financial assets at fair value through other 26,893,540 3,025,523 18.50% 3,025,523
comprehensive income and Financial assets at
fair value through profit or loss

Delta Electronics, Inc. Betacera Inc. common stock, etc. None Financial assets at fair value through other - 125,527 - 125,527
comprehensive income and Financial assets at
fair value through profit or loss

Delta Electronics Capital Company Evergreen Aviation Technologies None Financial assets at fair value through profit or 2,501,000 271,359 0.67% 271,359
Corporation common stock loss - current

Delta Electronics Capital Company Allied Supreme Corp. common stock None Financial assets at fair value through profit or 421,000 137,036 0.53% 137,036
loss - current

Delta Electronics Capital Company Tong Hsing Electronic Industries, Ltd. None Financial assets at fair value through profit or 1,240,557 195,388 0.59% 195,388
common stock loss - current

Delta Electronics Capital Company AMPAK Technology, Inc. common None Financial assets at fair value through profit or 900,000 108,000 1.36% 108,000
stock loss - current

Delta Electronics Capital Company Fusheng Precision Co., Ltd. common None Financial assets at fair value through profit or 844,000 174,286 0.64% 174,286
stock loss - current

Delta Electronics Capital Company Acer E-Enabling Service Business Inc. None Financial assets at fair value through profit or 547,000 161,365 1.32% 161,365
common stock loss - current

Delta Electronics Capital Company Nien Made Enterprise Co., Ltd. None Financial assets at fair value through profit or 423,043 149,334 0.14% 149,334
common stock loss - current

Delta Electronics Capital Company UBIQCONN TECHNOLOGY, INC. None Financial assets at fair value through profit or 4,969,311 393,669 6.63% 393,669
common stock loss - current

386
 As at December 31, 2023
Relationship with the Number of Ownership
Securities held by Marketable securities securities issuer General ledger account shares Book value (%) Fair value Footnote
Delta Electronics Capital Company WorkWave HoldCo, Inc. common None Financial assets at fair value through profit or 139 $ 129,400 0.20% $ 129,400
stock loss - non-current
Delta Electronics Capital Company REALLUSION INC. common stock, None Financial assets at fair value through profit or - 1,486,325 - 1,486,325
etc. loss
Delta Electronics (Netherlands) B.V. Noda RF Technologies Co., Ltd. None Financial assets at fair value through other - 59,320 - 59,320
common sotck, etc. comprehensive income - non-current
Cyntec Co., Ltd. Susumu Holdings Co., Ltd. common None Financial assets at fair value through other 200,000 104,081 15.35% 104,081
stock comprehensive income - non-current

Delta Electronics (Japan), Inc. Macy Inc. common stock None Financial assets at fair value through other 74,000,000 26,972 19.79% 26,972
comprehensive income - non-current

Delta America, Ltd. VPT Inc. common stock None Financial assets at fair value through other 860,000 5,373 17.52% 5,373
comprehensive income - non-current

Delta Electronics (H.K.) Ltd. Zhejiang Keente None Financial assets at fair value through other - 349,401 19.00% 349,401
Motor Technology Co., Ltd. comprehensive income - non-current

Delta Electronics (Pingtan) Co., Ltd. Pingtan Hi Tech Investment None Financial assets at fair value through other - 6,489 15.00% 6,489
Development Shares Co., Ltd. comprehensive income - non-current

Delta Electronics Int'l (Singapore) Pte. Zero-Error Systems Pte Ltd. preferred None Financial assets at fair value through other 1,761,804 92,115 12.11% 92,115
Ltd. stock comprehensive income - non-current

Vivotek Inc. Kneron Holding Corporation preferred None Financial assets at fair value through profit or 1,310,003 229,870 1.91% 229,870
stock loss - non-current

Atrust Computer Corporation ACRORED TECHNOLOGIES, INC. None Financial assets at fair value through other 500,000 3,780 2.38% 3,780
common stock comprehensive income - non-current

387
 Delta Electronics, Inc. and Subsidiaries

Year ended December 31, 2023

Table 4 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Balance as at Balance as at
General Relationship January 1, 2023 Addition Disposal December 31, 2023
Marketable ledger with Number of Number of Number of Gain (loss) on Number of
Amount Amount Selling price Book value Amount
Investor securities account Counterparty the investee shares shares shares disposal shares Footnote
Delta Electronics, Inc. Atrust Computer Investments CW & ET Link Inc and None - $ - 28,825,000 $ 949,711 - $ - $ - $ - 28,825,000 $ 949,711
Corporation accounted for under individuals (Note 1)
equity method

Delta Electronics (Netherlands) Delta America Ltd. " Delta International Holding Affiliated 18,374,182 3,398,629 - - 18,374,182 6,140,550 3,398,629 (Note 2) - -
B.V. Limited B.V. enterprise (Note 4)

Delta Electronics (Netherlands) Trihedral Engineering " Delta International Holding " 51,495 1,219,426 - - 51,495 1,959,680 1,219,426 (Note 3) - -
B.V. Limited Limited B.V. (Note 4)

Delta Electronics (Thailand) Delta Energy Systems " Delta Energy Systems " 173,263,590 8,525,632 105,635,630 2,010,331 - - - - 278,899,220 10,535,963
Public Company Limited (Singapore) PTE. (Singapore) PTE. LTD. (Note 5)
LTD.

Delta Energy Systems Delta Electronics India " Delta Electronics India Pvt. " 828,088,778 7,114,707 484,583,333 3,690,256 - - - - 1,312,672,111 10,804,963
(Singapore) PTE. LTD. Pvt. Ltd. Ltd. (Note 6)

Delta Electronics (Netherlands) Amerlux, LLC " Delta International Holding " - 3,057,203 - - - 3,015,950 3,057,203 (Note 7) - -
B.V. Limited B.V. (Note 4)

Delta International Holding Digital Projection " Digital Projection " 49,789,874 162,729 12,000,000 88,644 - - - - 61,789,874 251,373
Limited B.V. International Limited International Limited (DPIL) (Note 8)
(DPIL)

Digital Projection International Digital Projection " Digital Projection Holdings " 40,526,221 ( 295,452) 9,592,326 336,592 - - - - 50,118,547 41,140
Limited (DPIL) Holdings Limited Limited (DPHL) (Note 8)
(DPHL)

Digital Projection Holdings Digital Projection " Digital Projection Limited " 43,118 159,558 95,923 384,401 - - - - 139,041 543,959
Limited (DPHL) Limited (DPL) (DPL) (Note 8)

Delta Electronics (Netherlands) Boom Treasure " Boom Treasure Limited/ " 1 1,923,916 183,064,000 717,662 183,064,001 3,084,417 2,641,578 (Notes 9 and - -
B.V. Limited Drake Investment (HK) (Note 9) (Note 4) 10)
Limited

Delta Electronics (Netherlands) Delta Greentech SGP " Boom Treasure Limited " 12,175,470 641,153 - - 12,175,470 717,662 641,153 (Note 9) - -
B.V. Pte. Ltd. (Note 4)

Delta Electronics (Netherlands) Drake Investment " Drake Investment (HK) " 304,504,306 5,365,615 776,552,000 2,511,710 - - - - 1,081,056,306 7,877,325
B.V. (HK) Limited Limited (Note 10)

388
 Balance as at Balance as at
General Relationship January 1, 2023 Addition Disposal December 31, 2023
Marketable ledger with Number of Number of Number of Gain (loss) on Number of
Amount Amount Selling price Book value Amount
Investor securities account Counterparty the investee shares shares shares disposal shares Footnote
Delta Electronics (Thailand) DELTA Investments DELTA ELECTRONICS Affiliated 38,110,999 $ 153,255 214,500,000 $ 740,793 - $ - $ - $ - 252,610,999 $ 894,048
Public Company Limited ELECTRONICS accounted for under INDIA MANUFACTURING enterprise (Note 11)
INDIA equity method PRIVATE LIMITED
MANUFACTURING
PRIVATE LIMITED

Delta International Holding Delta Electronics " The stock exchange of None 191,984,450 14,290,766 1,727,860,050 - 89,232,800 7,380,571 1,101,362 (Note 13) 1,830,611,700 15,392,128
Limited B.V. (Thailand) Public Thailand (Note 12) (Note 4)
Company Limited

Delta Electronics (H.K.) Ltd. Zhejiang Keente Financial assets at fair Future Horizon Holding " - - - 349,401 - - - - - 349,401
Motor Technology value through other Limited
Co., Ltd. comprehensive
income - non-current
Cyntec Co., Ltd. GaN Systems Inc. " Infineon Technologies " 1,454,193 89,874 - - 1,454,193 554,179 89,874 399,303 - -
preferred stock Canada Acquisition Inc. (Note 18)

Delta International Holding HY&T Investments Investments E BOKKEL BEHEER B.V. " - - 750,232,500 5,054,938 - - - - 750,232,500 5,054,938
Limited B.V. Holding B.V. (NLI) accounted for under and COOPERATIEF H2 (Note 14)
equity method EQUITY PARTNERS
FUND IV HOLDING W.A.

HY&T Investments Holding TB&C Investments " TB&C Investments B.V. Affiliated 232,500 898,230 750,000,000 146,043 - - - - 750,232,500 1,044,273
B.V. (NLI) B.V. (NLV) (NLV) enterprise (Note 15)

TB&C Investments B.V. (NLV) TB&C Holding GmbH " TB&C Holding GmbH " 21 638,427 - 327,088 - - - - 21 965,515
(DEH) (DEH) (Note 16)

DET International Holding B.V. Eltek s.r.o. " Eltek s.r.o. " - - - 781,011 - - - - - 781,011
(Note 17)

Note 1: Delta Electronics, Inc. increased its investment in Atrust Computer Corporation in the amount of $950,259 in February 2023, which included investment income or loss recognised during the period and adjustments in changes of net value.

There was no gain or loss on disposal pursuant to related ordinances.

There was no gain or loss on disposal pursuant to related ordinances.

Note 4: Including the adjustments in investment income or loss recognised during the period and adjustments in changes of net value.
Note 5: Delta Electronics (Thailand) Public Company Limited increased its investment in Delta Energy Systems (Singapore) PTE. LTD. in the amount of $3,293,128 in 2023, which included investment income or loss recognised during the period and adjustments in changes of net value.
Note 6: Delta Energy Systems (Singapore) PTE. LTD. increased its investment in Delta Electronics India Pvt. Ltd. in the amount of $3,293,128 in 2023, which included investment income or loss recognised during the period and adjustments in changes of net value.

There was no gain or loss on disposal pursuant to related ordinances.

Note 8: Delta International Holding Limited B.V. (DIH) increased its investment in Digital Projection International Limited (DPIL) in the amount of $369,540 in May 2023, DPIL then increased its investment in its wholly-owned subsidiary, DPHL,
and DPHL then increased its investment in its wholly-owned subsidiary, DPL, which included investment income or loss recognised during the period and adjustments in changes of net value.
Note 9: In June 2023, Boom Treasure Limited issued new shares amounting to $717,662 for acquiring a 100% equity interest in Delta Greentech SGP Pte. Ltd. which was held by Delta Electronics (Netherlands) B.V. (DEN).

Note 10: In July 2023, Drake Investment (HK) Limited issued new shares amounting to $3,084,417 for acquiring a 100% equity interest in Boom Treasure Limited which was held by Delta Electronics (Netherlands) B.V. (DEN).

389
Note 11: In September 2023, Delta Electronics (Thailand) Public Company Limited increased its investment in DELTA ELECTRONICS INDIA MANUFACTURING PRIVATE LIMITED in the amount of $828,850, which included
investment income or loss recognised during the period and adjustments in changes of net value.
Note 12: Delta Electronics (Thailand) Public Company Limited split stocks in April 2023. The par value of each share was THB 1 before the stock split and is THB 0.1 after the stock split, and thus the number of shares increased tenfold.
Note 13: It was an equity transaction, thus there was no gain or loss on disposal.
Note 14: In 2023, Delta International Holding Limited B.V. (DIH) increased its investment in HY&T Investment Holding B.V. (NLI) in the amount of $5,453,852, which included investment income or loss recognised during the period and adjustments in changes of net value.
Note 15: In October 2023, HY&T Investments Holding B.V. (NLI) increased its investment in TB&C Investments B.V. (NLV) in the amount of $1,727,441, which included investment income or loss recognised during the period and adjustments in changes of net value.
Note 16: In October 2023, TB&C Investments B.V. (NLV) increased its investment in TB&C Holding GmbH (DEH) in the amount of $701,757, which included investment income or loss recognised during the period and adjustments in changes of net value.
Note 17: In October 2023, DET International Holding B.V. increased its investment in Eltek s.r.o. in the amount of $757,564, which included investment income or loss recognised during the period and adjustments in changes of net value.
Note 18: It pertains to the disposal of financial assets at fair value through other comprehensive income, and the disposal gain or loss net of the tax effect was recognised in other comprehensive income.

390
 Delta Electronics, Inc. and Subsidiaries
Acquisition of real estate reaching NT$300 million or 20% of paid-in capital or more
Year ended December 31, 2023
Table 5 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

If the counterparty is a related party, information as to the

last transaction of the real estate is disclosed below:

Original Relationship Reason for

owner who between the Basis or acquisition of
Relationship sold the real original owner Date of reference used real estate
Real estate Transaction with the estate to the and the the original in setting and status Other
acquired by Real estate acquired Date of the event amount Status of payment Counterparty counterparty counterparty acquirer transaction Amount the price of the real estate commitments
Delta Electronics India KG SEZ F6 March 25, 2023 $ 645,670 In accordance with Furein Construction None - - - $ - Price comparison and For future business None
India Pvt. Ltd. Factory Building the contract terms Engineering Pvt etc negotiation development

Delta Electronics India KG DTA F2 March 25, 2023 659,743 " " " - - - - " " "
India Pvt. Ltd. Factory Building

DELTA Land and buildings in July 6, 2023 319,400 " GBP LOTUS PLANO, " - - - - By reference to the " "
ELECTRONICS Texas, U.S.A LLC price quoted by the
(USA) INC. professional appraisal
agency and market
value
Delta Electronics The civil work for October 24, 2023 1,632,309 " Suzhou Tongli " - - - - Price comparison and " "
(Chongqing) Ltd. Plant 1 Architecture Co., Ltd. negotiation

Delta Electronics The civil work for December 5, 2023 991,870 " New Nanyang " - - - - " " "
(Thailand) Public Plant WG4 Construction Co., Ltd.
Company Limited

391
 Delta Electronics, Inc. and Subsidiaries
Purchases or sales of goods from or to related parties reaching $100 million or 20% of the Company's paid-in capital or more
Year ended December 31, 2023
Table 6 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
Delta Electronics, Inc. Delta Electronics (Australia) Pty Ltd Subsidiary Operating revenue $ 166,859 0.19 70 days $ 44,335 0.29

Delta Electronics, Inc. Delta Electronics (Jiangsu) Ltd. Subsidiary Operating revenue 620,340 0.71 70 days after 609,966 3.99
issuing invoice

Delta Electronics, Inc. Delta Electronics (Shanghai) Co., Ltd. Subsidiary Operating revenue 182,890 0.21 70 days after 180,344 1.18
issuing invoice

Delta Electronics, Inc. Delta Greentech (China) Co., Ltd. Subsidiary Operating revenue 130,767 0.15 70 days 52,652 0.34

Delta Electronics, Inc. Cyntec Electronics (Suzhou) Co., Ltd. Subsidiary Operating revenue 232,318 0.27 70 days 2,200 0.01

Delta Electronics, Inc. Delta Electronics India Pvt. Ltd. Subsidiary Operating revenue 280,318 0.32 90 days after 57,561 0.38
delivery

Delta Electronics, Inc. Delta Electronics (Japan), Inc. Subsidiary Operating revenue 221,049 0.25 70 days 81,428 0.53

Delta Electronics, Inc. Addtron Technology (Japan), Inc. Subsidiary Operating revenue 452,338 0.52 70 days 109,315 0.71

Delta Electronics, Inc. Delta Electronics (Korea), Inc. Subsidiary Operating revenue 165,221 0.19 70 days 120,834 0.79

Delta Electronics, Inc. Delta Electronics (Netherlands) B.V. Subsidiary Operating revenue 975,019 1.12 70 days 126,501 0.83

Delta Electronics, Inc. Delta Electronics Int'l (Singapore) Pte. Ltd. Subsidiary Operating revenue 20,775,297 23.80 70 days 2,024,475 11.93

Delta Electronics, Inc. Delta Electronics (Thailand) Public Company Subsidiary Operating revenue 6,014,760 6.89 70 days 2,008,219 13.13
Limited

Delta Electronics, Inc. DEI Logistics (USA) Corp. Subsidiary Operating revenue 7,695,077 8.82 90 days after 1,860,255 12.16
delivery

392
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
Delta Electronics, Inc. Delta Electronics (Americas) Ltd. Subsidiary Operating revenue $ 4,278,039 4.90 70 days $ 1,356,148 8.87

Delta Electronics, Inc. Delta Electronics (USA) Inc. Subsidiary Operating revenue 212,771 0.24 70 days 42,032 0.27

Delta Electronics (Dongguan) Co., Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated Operating revenue 196,988 0.48 70 days 135,022 2.47
enterprise

Delta Electronics (Dongguan) Co., Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated Operating revenue 5,556,153 13.50 70 days 1,410,619 25.79
enterprise

Delta Electronics (Dongguan) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 35,329,642 85.92 70 days 3,922,497 71.72
enterprise

Delta Electronics (Jiangsu) Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated Operating revenue 18,493,532 24.34 70 days 4,739,083 51.05
enterprise

Delta Electronics (Jiangsu) Ltd. Delta Electronics (Wuhu) Co., Ltd. Affiliated Operating revenue 496,998 0.65 70 days 111,391 1.20
enterprise

Delta Electronics (Jiangsu) Ltd. Delta Electronics (Chongqing) Ltd. Affiliated Operating revenue 123,708 0.16 70 days 44,576 0.48
enterprise

Delta Electronics (Jiangsu) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 56,671,678 74.59 70 days 4,302,019 46.34
enterprise

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics (Dongguan) Co., Ltd. Affiliated Operating revenue 116,634 0.37 70 days 16,284 0.20
enterprise

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated Operating revenue 301,367 0.96 70 days 51,218 0.64
enterprise

Delta Electronics (Shanghai) Co., Ltd. Delta Greentech (China) Co., Ltd. Affiliated Operating revenue 13,953,780 44.59 70 days 3,911,743 48.65
enterprise

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics (Pingtan) Co., Ltd. Affiliated Operating revenue 2,631,490 8.41 70 days 715,590 8.90
enterprise

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 1,385,272 4.43 70 days 124,729 1.55
enterprise

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 552,174 1.77 70 days 155,169 1.93
Limited enterprise

393
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
Delta Greentech (China) Co., Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated Operating revenue $ 199,911 0.63 70 days $ 13,745 0.32
enterprise

Delta Networks (Dongguan) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 5,704,885 98.49 70 days 585,107 97.68
enterprise

Delta Electronics (Wuhu) Co., Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated Operating revenue 374,712 5.68 70 days 83,050 9.76
enterprise

Delta Electronics (Wuhu) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 6,214,952 94.32 70 days 760,134 89.35
enterprise

Delta Electronics (Chenzhou) Co., Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated Operating revenue 615,215 10.94 70 days 166,662 15.62
enterprise

Delta Electronics (Chenzhou) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 5,007,614 89.06 70 days 900,062 84.37
enterprise

Chenzhou Delta Technology Co., Ltd. Delta Electronics (Dongguan) Co., Ltd. Affiliated Operating revenue 1,944,324 55.31 70 days 424,496 62.46
enterprise

Chenzhou Delta Technology Co., Ltd. Delta Electronics (Chenzhou) Co., Ltd. Affiliated Operating revenue 652,510 18.57 70 days 155,462 22.87
enterprise

Chenzhou Delta Technology Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 897,280 25.50 70 days 94,103 13.85
enterprise

Delta Electronics (Chongqing) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 903,021 99.98 70 days 129,762 99.83
enterprise

Cyntec Co., Ltd. Delta Electronics, Inc. Ultimate parent Operating revenue 2,188,359 25.87 70 days 644,355 34.85
company

Cyntec Co., Ltd. DEI Logistics (USA) Corp. Affiliated Operating revenue 204,777 2.42 90 days after 69,424 3.75
enterprise delivery

Cyntec Electronics (Suzhou) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 12,430,157 100.00 70 days 1,081,934 99.99
enterprise

Cyntec Electronics (WuHu) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 3,877,114 100.00 70 days 312,328 100.00
enterprise

Delta Energy Systems (Germany) GmbH Delta Electronics (Thailand) Public Company Affiliated Operating revenue 1,937,896 76.01 70 days - -
Limited enterprise

394
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
DELTA ELECTRONICS (France) SAS Delta Electronics (Netherlands) B.V. Affiliated Operating revenue $ 105,694 7.20 70 days $ 34,728 14.04
enterprise

Delta Energy Systems (UK) Ltd. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 104,648 100.00 70 days 9,105 100.00
Limited enterprise

Delta Electronics India Pvt. Ltd. DELTA ELECTRONICS INDIA Affiliated Operating revenue 252,751 2.27 70 days 213,516 8.40
MANUFACTURING PRIVATE LIMITED enterprise

Delta Electronics India Pvt. Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 2,386,791 21.33 70 days 806,157 31.71
enterprise

Delta Electronics India Pvt. Ltd. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 240,112 2.16 70 days 15,744 0.62
Limited enterprise

Delta Electronics (Japan), Inc. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 1,039,537 20.53 70 days 135,285 13.98
enterprise

Delta Electronics (Japan), Inc. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 129,083 2.55 70 days 25,489 2.63
Limited enterprise

Delta Electronics (Netherlands) B.V. Delta Electronics (Italy) S.r.l. Affiliated Operating revenue 445,195 5.12 70 days 29,404 1.85
enterprise

Delta Electronics (Netherlands) B.V. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 813,227 9.30 70 days 115,122 7.24
enterprise

Delta Electronics (Netherlands) B.V. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 137,819 1.58 70 days 18,329 1.15
Limited enterprise

Delta Electronics (Netherlands) B.V. Delta Greentech Electronics Industry LLC Affiliated Operating revenue 739,449 8.47 180 days 393,845 24.77
enterprise

DELTA ELECTRONICS (NORWAY) AS ELTEK MEA DMCC Affiliated Operating revenue 219,144 5.24 70 days 70,312 9.88
enterprise

DELTA ELECTRONICS (NORWAY) AS DELTA Electronics (Germany) GmbH Affiliated Operating revenue 750,014 17.90 70 days 77,523 10.90
enterprise

DELTA ELECTRONICS (NORWAY) AS DELTA ELECTRONICS (France) SAS Affiliated Operating revenue 544,570 12.98 70 days 111,212 15.63
enterprise

DELTA ELECTRONICS (NORWAY) AS DELTA ELECTRONICS (UK) LTD Affiliated Operating revenue 430,808 10.30 70 days 52,273 7.35
enterprise

395
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
DELTA ELECTRONICS (NORWAY) AS Delta Electronics (Poland) Sp. z o.o. Affiliated Operating revenue $ 155,149 3.70 70 days $ 69,167 9.72
enterprise

DELTA ELECTRONICS (NORWAY) AS Delta Electronics (Sweden) AB Affiliated Operating revenue 244,518 5.85 70 days 17,207 2.42
enterprise

DELTA ELECTRONICS (NORWAY) AS Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 225,627 5.36 70 days 935 0.13
enterprise

DELTA ELECTRONICS (NORWAY) AS Eltek s.r.o. Affiliated Operating revenue 245,664 5.87 70 days 28,742 4.04
enterprise

Delta Electronics (Poland) Sp. z o.o. DELTA ELECTRONICS (NORWAY) AS Affiliated Operating revenue 153,286 22.06 70 days 13,224 10.84
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Australia) Pty Ltd Affiliated Operating revenue 945,181 0.40 70 days 187,227 0.35
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. DELTA ELECTRONICS BRASIL LTDA. Affiliated Operating revenue 251,216 0.11 90 days after 81,750 0.15
enterprise delivery

Delta Electronics Int'l (Singapore) Pte. Ltd. ELTEK SISTEMAS DE ENERGIA Affiliated Operating revenue 179,832 0.08 90 days after 81,532 0.15
INDUSTRIA E COMERCIO LTDA. enterprise delivery

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Switzerland) AG Affiliated Operating revenue 2,293,525 0.98 70 days 724,334 1.37
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Dongguan) Co., Ltd. Affiliated Operating revenue 21,304,360 9.11 70 days 6,208,857 11.75
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated Operating revenue 25,217,049 10.77 70 days 1,470,001 2.78
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Networks (Dongguan) Ltd. Affiliated Operating revenue 4,443,883 1.91 70 days - -
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Wuhu) Co., Ltd. Affiliated Operating revenue 4,775,056 2.04 70 days 509,709 0.96
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Chenzhou) Co., Ltd. Affiliated Operating revenue 3,091,662 1.32 70 days 920,038 1.74
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Chenzhou Delta Technology Co., Ltd. Affiliated Operating revenue 296,183 0.13 70 days 41,504 0.08
enterprise

396
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Chongqing) Ltd. Affiliated Operating revenue $ 339,612 0.14 70 days $ 74,751 0.14
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Cyntec Co., Ltd. Affiliated Operating revenue 2,146,253 0.91 70 days 1,159,709 2.19
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Cyntec Electronics (Suzhou) Co., Ltd. Affiliated Operating revenue 488,101 0.21 70 days 94,808 0.18
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Cyntec Electronics (WuHu) Co., Ltd. Affiliated Operating revenue 146,918 0.06 70 days 33,927 0.06
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics Solutions (Spain) SL Affiliated Operating revenue 242,985 0.10 150 days 132,865 0.25
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Solutions (Finland) Oy Affiliated Operating revenue 117,079 0.05 70 days 15,115 0.03
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. DELTA ELECTRONICS (France) SAS Affiliated Operating revenue 174,235 0.07 70 days 32,829 0.06
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Digital Projection Limited Affiliated Operating revenue 225,186 0.10 75 days after 105,332 0.20
enterprise delivery

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics India Pvt. Ltd. Affiliated Operating revenue 1,681,272 0.72 90 days after 456,493 0.86
enterprise delivery

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Italy) S.r.l. Affiliated Operating revenue 201,866 0.09 70 days 41,551 0.08
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Japan), Inc. Affiliated Operating revenue 2,679,397 1.14 70 days 552,407 1.05
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Addtron Technology (Japan), Inc. Affiliated Operating revenue 232,954 0.10 70 days 138,429 0.26
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Korea), Inc. Affiliated Operating revenue 254,267 0.11 70 days 70,502 0.13
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics International Mexico, S.A. Affiliated Operating revenue 256,022 0.11 70 days 135,749 0.26
de C.V. enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Netherlands) B.V. Affiliated Operating revenue 3,257,558 1.40 70 days 533,857 1.01
enterprise

397
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
Delta Electronics Int'l (Singapore) Pte. Ltd. DELTA ELECTRONICS (NORWAY) AS Affiliated Operating revenue $ 1,057,142 0.46 70 days $ 119,708 0.23
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Slovakia) s.r.o. Affiliated Operating revenue 1,478,091 0.63 70 days 301,664 0.57
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 4,060,815 1.73 70 days 897,652 1.70
Limited enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics, Inc. Ultimate parent Operating revenue 23,360,828 9.99 70 days 7,207,937 13.64
company

Delta Electronics Int'l (Singapore) Pte. Ltd. DEI Logistics (USA) Corp. Affiliated Operating revenue 14,938,260 6.38 90 days after 5,478,193 10.37
enterprise delivery

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Americas) Ltd. Affiliated Operating revenue 3,131,072 1.33 70 days 1,052,003 1.99
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (USA) Inc. Affiliated Operating revenue 3,102,873 1.32 70 days 895,659 1.69
enterprise

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Vietnam) Company Affiliated Operating revenue 114,396 0.05 70 days 82,451 0.16
Limited enterprise

Delta Electronics (Slovakia) s.r.o. Delta Electronics (Netherlands) B.V. Affiliated Operating revenue 1,415,364 24.58 70 days 335,879 17.29
enterprise

Delta Electronics (Slovakia) s.r.o. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 2,634,274 44.97 70 days 1,082,408 55.71
enterprise

Delta Electronics (Slovakia) s.r.o. Eltek s.r.o. Affiliated Operating revenue 513,956 8.87 70 days 206,514 10.63
enterprise

Delta Electronics (Slovakia) s.r.o. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 1,207,382 20.80 70 days 308,310 15.87
Limited enterprise

Eltek s.r.o. DELTA ELECTRONICS (NORWAY) AS Affiliated Operating revenue 1,550,444 48.29 70 days 48,342 8.07
enterprise

Eltek s.r.o. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 1,644,417 51.20 70 days 534,207 89.17
enterprise

Delta Electronics (Thailand) Public Company Delta Energy Systems (Germany) GmbH Affiliated Operating revenue 509,342 0.47 70 days 19,339 0.06
Limited enterprise

398
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
Delta Electronics (Thailand) Public Company Delta Electronics India Pvt. Ltd. Affiliated Operating revenue $ 542,385 0.50 90 days after $ 323,155 1.06
Limited enterprise delivery

Delta Electronics (Thailand) Public Company Delta Electronics (Japan), Inc. Affiliated Operating revenue 266,421 0.24 70 days 51,541 0.17
Limited enterprise

Delta Electronics (Thailand) Public Company Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 1,486,115 1.36 70 days 457,391 1.50
Limited enterprise

Delta Electronics (Thailand) Public Company Delta Electronics (Slovakia) s.r.o. Affiliated Operating revenue 436,237 0.40 70 days 45,823 0.15
Limited enterprise

Delta Electronics (Thailand) Public Company Delta Electronics, Inc. Ultimate parent Operating revenue 184,945 0.17 70 days 77,121 0.25
Limited company

Delta Electronics (Thailand) Public Company DET Logistics (USA) Corporation Affiliated Operating revenue 34,111,273 31.17 90 days after 13,334,830 43.77
Limited enterprise delivery

Delta Electronics (Thailand) Public Company Delta Electronics (Americas) Ltd. Affiliated Operating revenue 1,079,522 0.99 70 days 177,450 0.58
Limited enterprise

Delta Green Industrial (Thailand) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 131,660 32.25 70 days - -
enterprise

DEI Logistics (USA) Corp. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 133,499 0.56 70 days 2,032 0.05
enterprise

Delta Electronics (Americas) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated Operating revenue 499,998 3.41 70 days 8,950 0.37
enterprise

Delta Electronics (Americas) Ltd. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 810,408 5.50 70 days 89,499 3.73
Limited enterprise

Digital Projection Inc. Delta Electronics (Americas) Ltd. Affiliated Operating revenue 263,991 43.38 70 days - -
enterprise

Delta Electronics (Automotive) Americas Inc. Delta Electronics (Thailand) Public Company Affiliated Operating revenue 257,013 100.00 70 days - -
Limited enterprise

Delta Electronics (USA) Inc. Delta Electronics (Americas) Ltd. Affiliated Operating revenue 319,896 3.34 70 days 220,943 12.67
enterprise

399
 Differences in transaction
terms compared to third
Transaction party transactions Notes/accounts receivable (payable)
Percentage of
Percentage of total
total notes/accounts
Relationship with purchases receivable
Purchaser/seller Counterparty the counterparty Purchases (sales) Amount (sales) Credit term Unit price Credit term Balance (payable) Footnote
March Networks Corporation March Networks, Inc. Affiliated Operating revenue $ 1,374,584 75.04 30 days Note 1 Note 1 $ 271,567 55.69
enterprise

March Networks Corporation March Networks S.r.l. Affiliated Operating revenue 144,519 7.89 30 days Note 2 Note 2 11,677 2.39
enterprise

Vivotek Inc. Vivotek USA, INC. Affiliated Operating revenue 452,140 5.00 75 days Note 3 Note 3 100,717 9.00
enterprise

Note 1: March Networks Corporation determined the prices and terms of goods sold to March Networks, Inc. based on the economic conditions and market competitiveness of the sales area, and there is no comparable prices and terms available for
the goods sold to third parties.
Note 2: March Networks Corporation determined the prices and terms of goods sold to March Networks S.r.l. based on the economic conditions and market competitiveness of the sales area, and there is no comparable prices and terms available for
the goods sold to third parties.
Note 3: Vivotek Inc. determined the prices and terms of goods sold to Vivotek USA, Inc. based on the economic conditions and market competitiveness of the sales area, and there is no comparable prices and terms available for the goods
sold to third parties.

400
 Delta Electronics, Inc. and Subsidiaries
Receivables from related parties reaching $100 million or 20% of the Company's paid-in capital or more
December 31, 2023
Table 7 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Amount collected
Balance as at Overdue receivables subsequent to the
Relationship with the December 31, 2023 Turnover balance date Allowance for
Creditor Counterparty counterparty (Note 1) rate Amount Action taken (Note 2) doubtful accounts
Delta Electronics, Inc. Delta Electronics (Jiangsu) Ltd. Subsidiary $ 609,966 1.01 $ - $ 67

Delta Electronics, Inc. Delta Electronics (Shanghai) Co., Ltd. Subsidiary 180,344 0.61 - -

Delta Electronics, Inc. Addtron Technology (Japan), Inc. Subsidiary 109,315 8.28 - 109,315

Delta Electronics, Inc. Delta Electronics (Korea), Inc. Subsidiary 120,834 2.66 - 120,834

Delta Electronics, Inc. Delta Electronics (Netherlands) B.V. Subsidiary 126,501 9.29 - 104,214

Delta Electronics, Inc. Delta Electronics Int'l (Singapore) Pte. Ltd. Subsidiary 2,305,179 0.72 - 2,305,179

Delta Electronics, Inc. Delta Electronics (Thailand) Public Company Subsidiary 2,008,219 4.63 158,861 1,727,922
Limited
Delta Electronics, Inc. DEI Logistics (USA) Corp. Subsidiary 1,860,255 2.85 - 635,080

Delta Electronics, Inc. Delta Electronics (Americas) Ltd. Subsidiary 1,356,148 3.38 3,615 1,356,148

Delta Electronics (Dongguan) Co., Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated enterprise 135,022 1.82 151 66,992

Delta Electronics (Dongguan) Co., Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated enterprise 1,410,619 4.00 - 507,092

Delta Electronics (Dongguan) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 3,922,497 9.96 - 3,922,497

Delta Electronics (Jiangsu) Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated enterprise 4,739,083 3.93 - 1,387,455

Delta Electronics (Jiangsu) Ltd. Delta Electronics (Wuhu) Co., Ltd. Affiliated enterprise 111,391 3.68 - 37,488

Delta Electronics (Jiangsu) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 4,302,019 11.47 - 2,005,477

Delta Electronics (Shanghai) Co., Ltd. Delta Greentech (China) Co., Ltd. Affiliated enterprise 3,911,743 5.17 - 1,126,234

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics (Pingtan) Co., Ltd. Affiliated enterprise 715,590 3.37 - 248,523

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 124,729 7.96 - 124,729

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics (Thailand) Public Company Affiliated enterprise 155,169 3.97 - 48,027
Limited

401
 Amount collected
Balance as at Overdue receivables subsequent to the
Relationship with the December 31, 2023 Turnover balance date Allowance for
Creditor Counterparty counterparty (Note 1) rate Amount Action taken (Note 2) doubtful accounts
Delta Networks (Dongguan) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise $ 585,107 4.44 $ - $ 252,137

Delta Electronics (Wuhu) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 760,134 6.86 - 630,484

Delta Electronics (Chenzhou) Co., Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated enterprise 166,662 3.40 - 81,927

Delta Electronics (Chenzhou) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 900,062 5.16 - 669,865

Chenzhou Delta Technology Co., Ltd. Delta Electronics (Dongguan) Co., Ltd. Affiliated enterprise 424,496 5.38 2 138,586

Chenzhou Delta Technology Co., Ltd. Delta Electronics (Chenzhou) Co., Ltd. Affiliated enterprise 155,462 4.59 - 240

Delta Electronics (Chongqing) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 129,762 9.08 - 129,762

Cyntec Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 145,208 - - 145,208

Cyntec Co., Ltd. Delta Electronics, Inc. Ultimate parent 644,355 3.43 - 447,058
company
Cyntec Electronics (Suzhou) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 1,081,934 11.22 - 1,080,696

Cyntec Electronics (Wuhu) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 312,328 9.78 - 312,328

Delta Electronics India Pvt. Ltd. DELTA ELECTRONICS INDIA Affiliated enterprise 213,516 2.37 6,624 19,503
MANUFACTURING PRIVATE LIMITED

Delta Electronics India Pvt. Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 806,157 4.99 145 302,976

Delta Electronics (Japan), Inc. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 135,285 7.31 - 135,285

Delta Electronics (Myanmar) Co., Ltd. Delta Electronics (Thailand) Public Company Affiliated enterprise 101,454 0.84 - -
Limited
Delta Electronics (Netherlands) B.V. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 115,122 12.92 56,993 83,069

Delta Electronics (Netherlands) B.V. Delta Greentech Electronics Industry LLC Affiliated enterprise 393,845 1.59 74,638 95,447

DELTA ELECTRONICS (NORWAY) AS DELTA ELECTRONICS (France) SAS Affiliated enterprise 111,212 4.05 - 34,521

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Australia) Pty Ltd Affiliated enterprise 187,227 6.51 10 158,349

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Switzerland) AG Affiliated enterprise 724,334 3.35 - 412,925

402
 Amount collected
Balance as at Overdue receivables subsequent to the
Relationship with the December 31, 2023 Turnover balance date Allowance for
Creditor Counterparty counterparty (Note 1) rate Amount Action taken (Note 2) doubtful accounts
Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Dongguan) Co., Ltd. Affiliated enterprise $ 6,208,857 3.80 $ 1,340,922 $ 2,802,301

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated enterprise 1,580,870 10.01 - 1,580,870

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Wuhu) Co., Ltd. Affiliated enterprise 509,709 7.32 - 509,709

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Chenzhou) Co., Ltd. Affiliated enterprise 920,038 3.09 208,894 309,494

Delta Electronics Int'l (Singapore) Pte. Ltd. Cyntec Co., Ltd. Affiliated enterprise 1,159,709 2.79 2,311 146,922

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics Solutions (Spain) SL Affiliated enterprise 132,865 1.99 - 23,615

Delta Electronics Int'l (Singapore) Pte. Ltd. Digital Projection Limited Affiliated enterprise 105,332 1.98 - 64,489

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics India Pvt. Ltd. Affiliated enterprise 456,493 2.40 1,291 146,689

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Japan), Inc. Affiliated enterprise 552,407 4.33 808 300,264

Delta Electronics Int'l (Singapore) Pte. Ltd. Addtron Technology (Japan), Inc. Affiliated enterprise 138,429 3.36 - 54

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics International Mexico, S.A. Affiliated enterprise 135,749 2.30 - 47,616
de C.V.
Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Netherlands) B.V. Affiliated enterprise 533,857 5.82 - 380,439

Delta Electronics Int'l (Singapore) Pte. Ltd. DELTA ELECTRONICS (NORWAY) AS Affiliated enterprise 119,708 4.31 - 47,380

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Slovakia) s.r.o. Affiliated enterprise 301,664 5.03 9,831 105,947

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Thailand) Public Company Affiliated enterprise 897,652 5.42 51,734 639,462
Limited
Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics, Inc. Ultimate parent 7,207,937 2.67 286,288 2,486,849
company
Delta Electronics Int'l (Singapore) Pte. Ltd. DEI Logistics (USA) Corp. Affiliated enterprise 5,478,193 2.93 53,736 2,131,116

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Americas) Ltd. Affiliated enterprise 1,052,003 2.61 - 1,052,003

Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (USA) Inc. Affiliated enterprise 895,659 1.73 - 530,456

Delta Electronics (Slovakia) s.r.o. Delta Electronics (Netherlands) B.V. Affiliated enterprise 335,879 3.21 - 219,458

Delta Electronics (Slovakia) s.r.o. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 1,082,408 3.53 802 879,251

403
 Amount collected
Balance as at Overdue receivables subsequent to the
Relationship with the December 31, 2023 Turnover balance date Allowance for
Creditor Counterparty counterparty (Note 1) rate Amount Action taken (Note 2) doubtful accounts
Delta Electronics (Slovakia) s.r.o. Eltek s.r.o. Affiliated enterprise $ 206,514 2.54 $ - $ 152,649

Delta Electronics (Slovakia) s.r.o. Delta Electronics (Thailand) Public Company Affiliated enterprise 308,310 4.47 - 225,907
Limited
Eltek s.r.o. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 534,207 4.41 7,257 344,230

Delta Electronics (Thailand) Public Company Delta Electronics India Pvt. Ltd. Affiliated enterprise 323,155 2.47 66,245 62,955
Limited
Delta Electronics (Thailand) Public Company Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise 457,391 4.14 65,404 174,277
Limited
Delta Electronics (Thailand) Public Company DET Logistics (USA) Corporation Affiliated enterprise 13,334,830 2.75 2,572,076 4,259,092
Limited
Delta Electronics (Thailand) Public Company Delta Electronics (Americas) Ltd. Affiliated enterprise 177,450 3.31 205 145,664
Limited
Vivotek Inc. Vivotek USA, Inc. Affiliated enterprise 110,461 2.44 2,326 45,992

Delta Electronics (USA) Inc. Delta Electronics (Americas) Ltd. Affiliated enterprise 220,943 2.90 115 91,920

Delta International Holding Limited B.V. Delta Controls Inc. Affiliated enterprise 431,880 - - -

Delta International Holding Limited B.V. Delta Electronics (H.K.) Ltd. Affiliated enterprise 13,324,104 - - -

Delta International Holding Limited B.V. Delta Electronics (Netherlands) B.V. Affiliated enterprise 784,001 - - -

Delta International Holding Limited B.V. Amerlux, LLC Affiliated enterprise 829,035 - - -

Delta International Holding Limited B.V. Delta Electronics (USA) Inc. Affiliated enterprise 871,763 - - -

DET International Holding B.V. Delta Electronics India Pvt. Ltd. Affiliated enterprise 2,394,990 - - -

Delta Electronics (Shanghai) Co., Ltd. Delta Electronics (Chongqing) Ltd. Affiliated enterprise 624,847 - - -

Delta Electronics (Shanghai) Co., Ltd. Cyntec Electronics (Wuhu) Co., Ltd. Affiliated enterprise 973,598 - 281 -

Delta Electronics (Wuhu) Co., Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated enterprise 1,554,492 - - -

Fairview Assets Ltd. Delta Controls Inc. Affiliated enterprise 1,573,277 - - -

Fairview Assets Ltd. Delta Electronics (H.K.) Ltd. Affiliated enterprise 9,806,291 - - -

404
 Amount collected
Balance as at Overdue receivables subsequent to the
Relationship with the December 31, 2023 Turnover balance date Allowance for
Creditor Counterparty counterparty (Note 1) rate Amount Action taken (Note 2) doubtful accounts
Fairview Assets Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise $ 11,829,812 - $ - $ -

Delta Energy Systems (Germany) GmbH Delta Energy Systems Property (Germany) Affiliated enterprise 368,683 - - -
GmbH
Delta Energy Systems (Germany) GmbH Delta Electronics (Slovakia) s.r.o. Affiliated enterprise 509,700 - - -

DELTA ELECTRONICS (NORWAY) AS Delta Electronics (Slovakia) s.r.o. Affiliated enterprise 407,760 - - -

DELTA ELECTRONICS (NORWAY) AS Eltek s.r.o. Affiliated enterprise 329,606 - - -

March Networks Corporation March Networks, Inc. Affiliated enterprise 271,567 4.58 - 211,740

Universal Instruments Corporation Universal Instruments Mfg.(Shenzhen) Co. Affiliated enterprise 292,235 0.90 - -
Ltd.
TB&C Outsert Center GmbH TB&C Holding GmbH Affiliated enterprise 292,183 - - -

Note 1: Including other receivables in excess of $100,000.

Note 2: The amount represents collections subsequent to December 31, 2023 up to February 29, 2024.

405
 Delta Electronics, Inc. and Subsidiaries
Significant inter-company transactions during the reporting period
Year ended December 31, 2023
Table 8 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Transaction
Percentage of
consolidated total
Number Relationship Transaction operating revenues or
(Note 1) Company name Counterparty (Note 2) General ledger account Amount (Note 7) terms total assets (Note 3)
0 Delta Electronics, Inc. Delta Electronics Int'l (Singapore) Pte. Ltd. Subsidiary Operating revenue $ 20,775,297 (Note 4) 5.18

0 Delta Electronics, Inc. Delta Electronics (Thailand) Public Subsidiary Operating revenue 6,014,760 (Note 4) 1.50
Company Limited
0 Delta Electronics, Inc. DEI Logistics (USA) Corp. Subsidiary Operating revenue 7,695,077 (Note 5) 1.92

0 Delta Electronics, Inc. Delta Electronics (Americas) Ltd. Subsidiary Operating revenue 4,278,039 (Note 4) 1.07

1 Delta Electronics (Dongguan) Co., Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated enterprise Operating revenue 5,556,153 (Note 4) 1.38

1 Delta Electronics (Dongguan) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise Operating revenue 35,329,642 (Note 4) 8.81

2 Delta Electronics (Jiangsu) Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated enterprise Operating revenue 18,493,532 (Note 4) 4.61

2 Delta Electronics (Jiangsu) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise Operating revenue 56,671,678 (Note 4) 14.12

3 Delta Electronics (Shanghai) Co., Ltd. Delta Greentech (China) Co., Ltd. Affiliated enterprise Operating revenue 13,953,780 (Note 4) 3.48

4 Delta Networks (Dongguan) Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise Operating revenue 5,704,885 (Note 4) 1.42

5 Delta Electronics (Wuhu) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise Operating revenue 6,214,952 (Note 4) 1.55

6 Delta Electronics (Chenzhou) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise Operating revenue 5,007,614 (Note 4) 1.25

7 Cyntec Electronics (Suzhou) Co., Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise Operating revenue 12,430,157 (Note 4) 3.10

8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Dongguan) Co., Ltd. Affiliated enterprise Operating revenue 21,304,360 (Note 4) 5.31

406
 Transaction
Percentage of
consolidated total
Number Relationship Transaction operating revenues or
(Note 1) Company name Counterparty (Note 2) General ledger account Amount (Note 7) terms total assets (Note 3)
8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Jiangsu) Ltd. Affiliated enterprise Operating revenue $ 25,217,049 (Note 4) 6.28

8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Networks (Dongguan) Ltd. Affiliated enterprise Operating revenue 4,443,883 (Note 4) 1.11

8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Wuhu) Co., Ltd. Affiliated enterprise Operating revenue 4,775,056 (Note 4) 1.19

8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Thailand) Public Affiliated enterprise Operating revenue 4,060,815 (Note 4) 1.01
Company Limited
8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics, Inc. Ultimate parent Operating revenue 23,360,828 (Note 4) 5.82
company
8 Delta Electronics Int'l (Singapore) Pte. Ltd. DEI Logistics (USA) Corp. Affiliated enterprise Operating revenue 14,938,260 (Note 5) 3.72

9 Delta Electronics (Thailand) Public DET Logistics (USA) Corporation Affiliated enterprise Operating revenue 34,111,273 (Note 5) 8.50
Company Limited
2 Delta Electronics (Jiangsu) Ltd. Delta Electronics (Shanghai) Co., Ltd. Affiliated enterprise Accounts receivable 4,739,083 (Note 4) 1.04

8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics (Dongguan) Co., Ltd. Affiliated enterprise Accounts receivable 6,208,857 (Note 4) 1.36

8 Delta Electronics Int'l (Singapore) Pte. Ltd. Delta Electronics, Inc. Ultimate parent Accounts receivable 7,207,937 (Note 4) 1.57
company
8 Delta Electronics Int'l (Singapore) Pte. Ltd. DEI Logistics (USA) Corp. Affiliated enterprise Accounts receivable 5,478,193 (Note 5) 1.20

9 Delta Electronics (Thailand) Public DET Logistics (USA) Corporation Affiliated enterprise Accounts receivable 13,334,830 (Note 5) 2.91
Company Limited
10 Delta International Holding Limited B.V. Delta Electronics (H.K.) Ltd. Affiliated enterprise Other receivables - 13,324,104 (Note 6) 2.91
related parties
11 Fairview Assets Ltd. Delta Electronics (H.K.) Ltd. Affiliated enterprise Other receivables - 9,806,291 (Note 6) 2.14
related parties

407
 Transaction
Percentage of
consolidated total
Number Relationship Transaction operating revenues or
(Note 1) Company name Counterparty (Note 2) General ledger account Amount (Note 7) terms total assets (Note 3)
11 Fairview Assets Ltd. Delta Electronics Int'l (Singapore) Pte. Ltd. Affiliated enterprise Other receivables - $ 11,829,812 (Note 6) 2.58
related parties

Note 1: The numbers filled in for the transaction company in respect of inter-company transactions are as follows:

Note 2: Relationship between transaction company and counterparty is classified into the following three categories:
(1) Parent company to subsidiary.
(2) Subsidiary to parent company.
(3) Subsidiary to subsidiary.
Note 3: Regarding percentage of transaction amount to consolidated total operating revenues or total assets, it is computed based on period-end balance of transaction to consolidated total assets
for balance sheet accounts and based on accumulated transaction amount for the period to consolidated total operating revenues for income statement accounts.
Note 4: There is no similar transaction to compare with. It will follow the agreed price and transaction terms and all the credit terms are 70 days.
Note 5: It will follow the agreed price and transaction terms, and all the credit terms are 90 days after delivery.
Note 6: Lending of capital.
Note 7: The disclosure requirement for the above disclosed amounts is 1% of the consolidated total assets for balance sheet accounts and 1% of the consolidated total revenue for income statement accounts.

408
 Delta Electronics, Inc. and Subsidiaries
Information on investees
Year ended December 31, 2023
Table 9 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Initial investment amount Shares held as at December 31, 2023

Investment income
Net profit (loss) of the (loss) recognised
investee for the year by the Company for
Balance as at Balance as at Number of Ownership ended December 31, theyear ended
Investor Investee Location Main business activities December 31, 2023 December 31, 2022 shares (%) Book value 2023 December 31, 2023 Footnote
Delta Electronics, Inc. Delta International Holding Limited B.V. Netherlands Equity investments $ 8,922,118 $ 8,922,118 67,680,000 100.00 $ 82,861,679 $ 3,173,254 $ 3,066,008 (Note 6)

Delta Electronics, Inc. Delta Networks Holding Limited Cayman Equity investments - 29,582 1 100.00 2,425 95,099 95,099 (Note 6)
Islands

Delta Electronics, Inc. Delta Electronics (Netherlands) B.V. Netherlands Sales of power products, display solution 4,529,355 4,529,355 128,492,272 100.00 32,422,090 4,197,427 4,051,945 (Note 6)
products, electronic components, industrial
automation products and materials

Delta Electronics, Inc. Delta Electronics (Thailand) Public Thailand Manufacturing and exporting power supplies, 4,780,487 4,780,487 691,281,400 5.54 5,644,633 16,411,727 797,668 (Note 6 and
Company Limited other electronic parts and components Note 13)

Delta Electronics, Inc. Cyntec Co., Ltd. Taiwan Research, development, manufacturing and 12,067,931 12,067,931 2,341,204,333 100.00 38,066,466 1,892,247 1,902,180 (Note 6)
sales of film optic-electronic devices

Delta Electronics, Inc. DelBio Inc. Taiwan Manufacturing, wholesale and retail of 900,000 900,000 21,761,836 100.00 132,694 ( 48,342) ( 48,184) (Note 6)
medical equipment

Delta Electronics, Inc. Delta Electronics Capital Company Taiwan Equity investments 3,253,241 3,253,241 391,967,176 100.00 4,689,466 751,599 751,599 (Note 6)

Delta Electronics, Inc. Delta Electronics Int'l (Singapore) Pte. Singapore Research, development and sales of electronic 34,498 34,498 45,234,240 100.00 72,290,479 18,435,016 18,815,324 (Note 6)
Ltd. products

Delta Electronics, Inc. Delta America Ltd. U.S.A. Equity investments 103,065 103,065 2,100,000 10.26 236,688 544,382 49,106 (Note 6 and
Note 9)
Delta Electronics, Inc. Vivotek Inc. Taiwan Manufacturing and sales of video compression 4,471,534 4,471,534 49,128,058 56.75 4,445,816 489,271 219,367 (Note 6)
software and encoding, network video server,
webcam and its related components

Delta Electronics, Inc. Chunghwa SEA Holdings Taiwan Equity investments 8,800 8,800 880,000 44.00 8,164 ( 420) ( 185) (Note 6)

Delta Electronics, Inc. Delmind Inc. Taiwan Provide vertical add-on value solution 210,000 210,000 21,000,000 70.00 186,636 ( 13,118) ( 9,183) (Note 6)

Delta Electronics, Inc. Ancora Semiconductors Inc. Taiwan Gallium Nitride (GaN) technologies and 470,000 470,000 37,000,000 67.03 209,798 ( 288,804) ( 193,585) (Note 6 and
solutions Note 22)

Delta Electronics, Inc. Delta Energy Inc. Taiwan Energy technology services 200,000 - 20,000,000 100.00 188,277 ( 11,723) ( 11,723) (Note 6 and
Note 18)

Delta Electronics, Inc. Atrust Computer Corporation Taiwan Research, development, manufacturing and 950,259 - 28,825,000 55.02 949,711 36,673 ( 1,022) (Note 6 and
sales of Thin Client, Zero Client, server and Note 18)
management software
Delta Electronics, Inc. Power Forest Technology Corporation Taiwan IC design of power management 112,500 - 5,000,000 21.20 39,095 ( 147,785) ( 20,854) (Note 6, Note
18 and Note 26)

Atrust Computer APLUS COMPUTER (SAMOA) Samoa Equity investments 69,086 52,720 800,000 100.00 8,339 ( 4,022) ( 4,022) (Note 6 and
Corporation COMPANY LIMITED Note 23)

409
 Initial investment amount Shares held as at December 31, 2023
Investment income
Net profit (loss) of the (loss) recognised
investee for the year by the Company for
Balance as at Balance as at Number of Ownership ended December 31, theyear ended
Investor Investee Location Main business activities December 31, 2023 December 31, 2022 shares (%) Book value 2023 December 31, 2023 Footnote
Delta Electronics Capital Ancora Semiconductors Inc. Taiwan Gallium Nitride (GaN) technologies and $ 40,000 $ 40,000 4,000,000 7.25 $ 35,871 ($ 288,804) ($ 20,938) (Note 6 and
Company solutions Note 22)

Delta International Holding Delta Electronics (Thailand) Public Thailand Manufacturing and exporting power supplies, 12,612,233 13,227,014 1,830,611,700 14.68 15,392,128 16,411,727 2,254,337 (Note 1 and
Limited B.V. Company Limited other electronic parts and components Note 13)

Delta International Holding DEI Logistics (USA) Corp. U.S.A. Warehousing and logistics services 88,154 88,154 1,000,000 100.00 249,090 ( 176) ( 176) (Note 1)
Limited B.V.

Delta International Holding Delta Electronics (Japan), Inc. Japan Sales of power products, display solution 87,784 87,784 5,600 100.00 1,097,193 303,346 303,345 (Note 1)
Limited B.V. products, electronic components, industrial
automation products and materials
Delta International Holding Digital Projection International Limited Britain Equity investments 802,213 433,753 61,789,874 100.00 251,373 ( 17,615) ( 43,017) (Note 1)
Limited B.V.

Delta International Holding Delta Electronics (Switzerland) AG Switzerland Equity investments, research, development and 624,675 624,675 10,000 100.00 682,050 105,304 98,881 (Note 1)
Limited B.V. sales of electronic products

Delta International Holding DELTA ELECTRONICS HOLDING U.S.A. Equity investments 2,096,842 2,096,842 1,060,624 100.00 3,172,981 148,297 193,189 (Note 1)
Limited B.V. (USA) INC.

Delta International Holding DELTA ELECTRONICS (NORWAY) Norway Research, development and sales of power 15,265,528 15,265,528 93,531,101 100.00 11,293,319 371,997 ( 393,078) (Note 1)
Limited B.V. AS supplies and others

Delta International Holding Delta Controls Inc. Canada Provide solutions to building management and 2,302,875 2,302,875 75,000,000 100.00 2,908,792 47,502 47,502 (Note 1)
Limited B.V. control

Delta International Holding Delta Electronics Europe Ltd. Britain Repair centre and providing support services - 112,380 - - - - - (Note 1 and
Limited B.V. Note 19)

Delta International Holding March Networks Holdings Ltd. Canada Equity investments 3,824,656 3,824,656 10,000 100.00 3,642,529 43,447 ( 72,213) (Note 1)
Limited B.V.

Delta International Holding UI Acquisition Holding Co. U.S.A. Equity investments 2,867,847 2,867,847 334 100.00 2,588,670 ( 388,060) ( 431,925) (Note 1)
Limited B.V.

Delta International Holding Delta America Ltd. U.S.A. Equity investments 1,585,344 - 18,374,182 89.74 3,882,447 544,382 330,003 (Note 1, Note 9
Limited B.V. and Note 20)

Delta International Holding Trihedral Engineering Limited Canada Graphic control software and related 1,095,387 - 51,495 100.00 1,315,642 119,568 75,319 (Note 1 and
Limited B.V. engineering services Note 20)

Delta International Holding Amerlux, LLC U.S.A. Design and production of dedicated lighting 3,000,462 - - 100.00 3,086,387 83,285 21,595 (Note 1 and
Limited B.V. system and facilities Note 24)

Delta International Holding HY&T Investment Holding B.V. Netherlands Equity investments 5,189,129 - 750,232,500 100.00 5,054,938 ( 129,404) ( 181,639) (Note 1 and
Limited B.V. Note 18)

Delta America Ltd. Delta Electronics (Americas) Ltd. U.S.A. Sales of electronic components 231,954 231,954 250,000 100.00 2,184,859 486,082 486,082 (Note 15)

410
 Initial investment amount Shares held as at December 31, 2023
Investment income
Net profit (loss) of the (loss) recognised
investee for the year by the Company for
Balance as at Balance as at Number of Ownership ended December 31, theyear ended
Investor Investee Location Main business activities December 31, 2023 December 31, 2022 shares (%) Book value 2023 December 31, 2023 Footnote
Digital Projection Digital Projection Holdings Limited Britain Equity investments $ 610,953 $ 235,413 50,118,547 100.00 $ 41,140 $ (17,621) $ (17,621) (Note 17)
International Ltd.

Delta Electronics (H.K.) Delta Electronics International Mexico, Mexico Sales of power management system of 300,810 300,810 2,733,483 100.00 292,416 24,631 24,630 (Note 2)
Ltd. S.A. de C.V. industrial automation product and
telecommunications equipment
Delta Electronics Delta Electronics (H.K.) Ltd. Hong Kong Equity investments, operations management 10,083,433 10,083,433 2,549,297,600 100.00 24,907,793 3,534,190 3,534,190 (Note 8)
(Netherlands) B.V. and engineering services

Delta Electronics Boom Treasure Limited Hong Kong Equity investments - 2,675,047 - - - 70,804 ( 28,716) (Note 8 and
(Netherlands) B.V. Note 27)

Delta Electronics Drake Investment (HK) Limited Hong Kong Equity investments 8,326,162 5,284,832 1,081,056,306 100.00 7,877,325 158,779 154,050 (Note 8)
(Netherlands) B.V.

Delta Electronics Delta America Ltd. U.S.A. Equity investments - 1,585,344 - - - 544,382 157,613 (Note 8 and
(Netherlands) B.V. Note 20)

Delta Electronics Delta Greentech Electronics Industry Turkey Marketing and sales of electronic products 479,612 479,612 7,670,494 100.00 407,593 227,628 242,540 (Note 8)
(Netherlands) B.V. LLC

Delta Electronics DELTA GREENTECH (BRASIL) Brazil Manufacturing and sales of electronic products 218,313 218,313 4,315,657 100.00 183,038 11,920 11,920 (Note 8)
(Netherlands) B.V. LTDA.

Delta Electronics DELTA ELECTRONICS BRASIL Brazil Manufacturing and sales of electronic products 622,805 622,805 87,000,000 100.00 802,732 127,837 127,837 (Note 8)
(Netherlands) B.V. LTDA.

Delta Electronics Amerlux, LLC U.S.A. Design and production of dedicated lighting - 3,000,462 - - - 83,285 ( 25,902) (Note 8 and
(Netherlands) B.V. system and facilities Note 24)

Delta Electronics Delta Greentech SGP Pte. Ltd. Singapore Equity investments - 857,611 - - - 25,232 ( 5,726) (Note 8 and
(Netherlands) B.V. Note 25)

Delta Electronics Trihedral Engineering Limited Canada Graphic control software and related - 1,095,387 - - - 119,568 13,185 (Note 8 and
(Netherlands) B.V. engineering services Note 20)

Delta Electronics Int'l Delta Electronics (Thailand) Public Thailand Manufacturing and exporting power supplies, 36,737,053 36,737,053 5,344,793,060 42.85 46,237,661 16,411,727 6,351,179 (Note 7 and
(Singapore) Pte. Ltd. Company Limited other electronic parts and components Note 13)

Delta Electronics Int'l ELTEK POWER INCORPORATED Philippines Sales of power supplies and others 23,130 23,130 11,400,000 100.00 9,787 ( 29,577) ( 29,577) (Note 7)
(Singapore) Pte. Ltd.

Delta Electronics Int'l ELTEK POWER CO., LTD. Thailand Sales of power supplies and others - - 40,000 100.00 74,766 10,128 10,127 (Note 7)
(Singapore) Pte. Ltd.

Delta Electronics Int'l ELTEK POWER (CAMBODIA) LTD Cambodia Sales of power supplies and others - - 1,000 100.00 ( 19,235) - - (Note 7)
(Singapore) Pte. Ltd.

Delta Electronics Int'l ELTEK POWER (MALAYSIA) SDN. Malaysia Sales of power supplies and others 63,417 63,417 300,000 100.00 ( 70,118) ( 16,881) ( 16,881) (Note 7)
(Singapore) Pte. Ltd. BHD.

Delta Electronics Int'l Loy Tec electronics GmbH Austria Provide solutions to building management and 2,492,001 2,492,001 - 100.00 1,501,929 167,990 58,359 (Note 7)
(Singapore) Pte. Ltd. control

411
 Initial investment amount Shares held as at December 31, 2023
Investment income
Net profit (loss) of the (loss) recognised
investee for the year by the Company for
Balance as at Balance as at Number of Ownership ended December 31, theyear ended
Investor Investee Location Main business activities December 31, 2023 December 31, 2022 shares (%) Book value 2023 December 31, 2023 Footnote
Delta Networks Holding Delta Networks, Inc. Cayman Equity investments $ 3,623,640 $ 5,461,160 1 100.00 $ 1,785 $ 95,242 $ 95,242 (Note 3)
Limited Islands

Delta Networks, Inc. Delta Networks (HK) Limited Hong Kong Equity investments - 1,074,675 - - - 82,642 79,791 (Note 4 and
Note 28)

Cyntec Co., Ltd. Fairview Assets Ltd. Cayman Equity investments 1,116,521 1,116,521 32,740,062 100.00 33,665,366 1,525,210 1,525,210 (Note 5)
Islands

Cyntec Co., Ltd. Power Forest Technology Corporation Taiwan IC design of power management 347,387 347,387 15,432,000 65.45 86,671 ( 147,785) ( 120,917) (Note 5 and
Note 26)

Delta Electronics (Thailand) DET International Holding B.V. Netherlands Equity investments 8,520,795 8,520,795 264,357,330 100.00 8,032,496 589,895 581,268 (Note 16)
Public Company Limited

Delta Electronics (Thailand) Delta Green Industrial (Thailand) Co., Thailand Integration, sales, trading, installation and 185,750 185,750 20,600,000 100.00 36,361 ( 6,855) ( 6,855) (Note 16)
Public Company Limited Ltd. providing services of uninterruptible power
supply, photovoltaic inverter, electric cars
changer and data center

Delta Electronics (Thailand) Delta Energy Systems (Singapore) PTE. Singapore Equity investments, trading, management and 8,390,697 5,025,967 278,899,220 100.00 10,535,963 362,635 377,187 (Note 16)
Public Company Limited LTD. consultancy

Delta Electronics (Thailand) Delta Electronics (Vietnam) Company Vietnam Sales of electronic products 2,733 2,733 - 100.00 14,222 12,043 12,043 (Note 16)
Public Company Limited Limited

Delta Electronics (Thailand) DELTA ELECTRONICS INDIA India Manufacturing and marketing of electronic 999,123 153,183 252,610,999 100.00 894,048 ( 53,598) ( 53,598) (Note 16)
Public Company Limited MANUFACTURING PRIVATE products
LIMITED
Vivotek Inc. Otus Imaging, Inc. Taiwan Sales of webcams and related components - 44,294 - - - ( 5,290) ( 5,290) (Note 11 and
Note 21)
Vivotek Inc. Realwin Investment Inc. Taiwan Venture capital company 173,696 173,696 17,369,635 100.00 209,111 32,744 34,170 (Note 11)

Vivotek Inc. Vivotek Holdings, Inc. U.S.A. Holding company 31,555 31,555 1,050 100.00 358,559 26,354 26,354 (Note 11)

Vivotek Inc. Vivotek Netherlands B.V. Netherlands Sales service 11,418 11,418 3,000 100.00 19,186 3,330 3,330 (Note 11)

Vivotek Inc. Vivotek (Japan) Inc. Japan Sales service 17,939 17,939 6,600 100.00 21,529 635 635 (Note 11)

Vivotek Holdings, Inc. Vivotek USA, Inc. U.S.A. Sales of webcams and related components 28,480 28,480 10,000,000 100.00 408,245 26,370 26,370 (Note 10)

Realwin Investment Inc. Lidlight Inc. Taiwan Sales of lighting equipment 10,200 10,200 1,020,000 51.00 2,324 ( 2,982) ( 1,521) (Note 12)

Realwin Investment Inc. Aetek Inc. Taiwan Sales of webcams and related components 34,045 34,045 3,372,500 56.21 87,217 50,190 28,211 (Note 12)

Realwin Investment Inc. Wellstates Investment, LLC U.S.A. Investment and leasing of commercial real 34,859 34,859 - 100.00 65,596 5,245 5,245 (Note 12)
estate related business
Realwin Investment Inc. Skywatck INC. Taiwan Wholesale of electronic equipment 755 755 50,070 0.88 - - - (Note 14)

412
Note 6: The investment income /loss is net of the elimination of intercompany transactions.

Note 9: The Company indirectly acquired 89.74% equity shares of Delta America Ltd. through Delta Electronics (Netherlands) B.V. considering the 10.26% equity shares held by the Company, the total ownership was 100%.

Note 13: The Company indirectly acquired 14.68% and 42.85% equity shares of Delta Electronics (Thailand) Public Company Limited through Delta International Holding Limited B.V. and Delta Electronics Int'l (Singapore) Pte. Ltd., respectively.
Considering the 5.54% equity shares held by the Company, the total ownership was 63.07%. Delta Electronics (Thailand) Public Company Limited split stocks in April 2023.
The par value of each share was THB 1 before the stock split and is THB 0.1 after the stock split, and thus the number of shares increased tenfold.

Note 18: Established or invested during 2023.

Note 19: This company had been liquidated in January 2023.
Note 20: As the Group reorganised in March 2023, Delta Electronics (Netherlands) B.V. sold 89.74% and 100% of shares in its subsidiaries, Delta America Ltd. and Trihedral Engineering Limited, to Delta International Holding Limited B.V., respectively.
Note 21: The Group had disposed the investee in March 2023.
Note 22: The Company indirectly acquired 7.25% equity shares of Ancora Semiconductors Inc. through Delta Electronics Capital Company considering the 67.03% equity shares held by the Company, the total ownership was 74.28%.

Note 24: As the Group reorganised in May 2023, Delta Electronics (Netherlands) B.V. sold 100% of shares in its subsidiary, Amerlux, LLC to Delta International Holding Limited B.V..
Note 25: As the Group reorganised in June 2023, Delta Electronics (Netherlands) B.V. sold 100% of shares in its subsidiary, Delta Greentech SGP Pte. Ltd. to Boom Treasure Limited.
Note 26: The Company indirectly acquired 65.45% equity shares of Power Forest Technology Corporation through Cyntec Co., Ltd. Considering the 21.20% equity shares held by the Company, the total ownership was 86.65%.
Note 27: In July 2023, the Group adjusted the investment structure, and Delta Electronics (Netherlands) B.V. sold a 100% equity interest in its subsidiary, Boom Treasure Limited, to Drake Investment (HK) Limited.
Note 28: In December 2023, the Group adjusted the investment structure, and Delta Networks, Inc. sold a 100% equity interest in its subsidiary, Delta Networks (HK) Limited, to Delta Electronics (H.K.) Ltd..

413
 Delta Electronics, Inc. and Subsidiaries
Information on investments in Mainland China
Year ended December 31, 2023
Table 10 Expressed in thousands of New Taiwan dollars, except as otherwise indicated

Accumulated
Amount remitted from Taiwan to Accumulated amount of
Accumulated Mainland China/Amount amount of Net income Investment income Book value of investment
amount of remitted back to Taiwan for the remittance from (loss) of Ownership (loss) recognised investments in income
remittance from year ended December 31, 2023 Taiwan to investee for the held by the by the Company Mainland remitted back
Taiwan to Mainland Mainland China year ended Company for the year ended China as at to Taiwan as at
Investment China as at January Remitted to Remitted back as at December December 31, (direct or December 31, December 31, December 31,
Investee in Mainland China Main business activities Paid-in capital method 1, 2023 Mainland China to Taiwan 31, 2023 2023 indirect) 2023 2023 2023 Footnote
Delta Electronics (Dongguan) Co., Manufacturing and sales of transformer and $ 4,295,937 Invested by DHK $ 5,120,837 $ - $ - $ 5,120,837 $ 751,706 100.00 $ 829,277 $ 6,344,250 $ 296,611 (Note 3
Ltd. thermal products and Note
13)

Delta Electronics (Shanghai) Co., Product design, management consulting service 3,431,483 Invested by DHK 480,332 - - 480,332 1,406,941 100.00 1,388,165 8,105,417 - (Note 6
Ltd. and distribution of electronic products and Note
13)

Delta Electronics (Wuhu) Co., Ltd. Manufacturing and sales of LED light source, 4,114,470 Invested by DHK 525,401 - - 525,401 55,920 100.00 47,773 4,414,060 - (Note 7
power supplies and others and Note
13)

Delta Electronics (Chenzhou) Co., Manufacturing and sales of transformers 1,934,415 Invested by DHK 131,260 - - 131,260 156,156 100.00 ( 70,878) 2,164,744 - (Note 8
Ltd. and Note
13)

Delta Electronics (Jiangsu) Ltd. Manufacturing and sales of power supplies and 5,736,001 Invested by DHK 12,522,416 - - 12,522,416 1,766,642 100.00 1,724,338 13,212,543 - (Note 13)
transformers

Delta Green (Tianjin) Industries Manufacturing and sales of transformers 139,094 Invested by DHK 1,015,880 - - 1,015,880 ( 1,277) 100.00 181,499 89,371 - (Note 9
Co., Ltd. and Note
13)

Delta Electronics (Pingtan) Co., Wholesale and retail of electronic products and 129,789 Invested by DHK 159,503 - - 159,503 42,922 100.00 42,922 202,486 - (Note 13)
Ltd. energy-saving equipment

Delta Electronics (Beijing) Co., Installation of mechanic, electronic, - Invested by DHK 14,043 - - 14,043 558 - 558 - - (Note 10
Ltd. telecommunication and circuit equipment and Note
13)

Delta Electronics (Xi'an) Co., Ltd. Sales of computer, peripheral equipment and 237,946 Invested by DHK 259,717 - - 259,717 1,428 100.00 1,428 195,492 - (Note 13)
software

Cyntec Electronics (Suzhou) Co., Manufacturing and sales of electronic 7,154,265 Invested by DHK - 8,654,822 - 8,654,822 639,343 100.00 639,343 7,162,335 - (Note 13
Ltd. components and molds; sales of forgings and and Note
powder metallurgy products 19)

414
 Accumulated
Amount remitted from Taiwan to Accumulated amount of
Accumulated Mainland China/Amount amount of Net income Investment income Book value of investment
amount of remitted back to Taiwan for the remittance from (loss) of Ownership (loss) recognised investments in income
remittance from year ended December 31, 2023 Taiwan to investee for the held by the by the Company Mainland remitted back
Taiwan to Mainland Mainland China year ended Company for the year ended China as at to Taiwan as at
Investment China as at January Remitted to Remitted back as at December December 31, (direct or December 31, December 31, December 31,
Investee in Mainland China Main business activities Paid-in capital method 1, 2023 Mainland China to Taiwan 31, 2023 2023 indirect) 2023 2023 2023 Footnote
Delta Networks (Dongguan) Ltd. Manufacturing and sales of other radio-broadcast $ 1,397,078 Invested by DHK $ 1,372,708 $ - $ - $ 1,372,708 ($ 9,135) 100.00 ($ 8,583) $ 1,847,466 $ 675,510 (Note 5
receivers and the equipment in relation to and Note
broadband access networking system 13)

Delta Networks (Xiamen) Ltd. Operation of radio transmission apparatus, and 63,805 Invested by 21,494 - - 21,494 18,862 30.00 5,659 49,897 - (Note 14)
automatic data processing, reception, conversion DNHK
and transmission or regeneration of voice,
images or other data of the machine, including
switches and routers, with a special program to
control a computer or word processor with
memory business
DelBio (Wujiang) Co., Ltd. Manufacturing, wholesale and retail of medical 122,820 Invested by 122,820 - - 122,820 ( 11,870) 100.00 ( 11,870) 126,580 24,088 (Note 15)
equipment DelBio

Chenzhou Delta Technology Co., Manufacturing and sales of transformers 110,320 Invested by DCZ - - - - 60,238 100.00 60,439 377,078 - (Note 11)
Ltd.

Delta Energy Technology Puhuan Sales of solar power products, photovoltaic 43,696 Invested by - - - - ( 324) 96.32 ( 324) 31,304 - (Note 11)
(Shanghai) Co., Ltd. equipment and components, energy saving DPEC and DGC
management services

Guangzhou Amerlux Lighting Co., Wholesale of lighting fixture and decorative 14,585 Invested by 184,920 - - 184,920 59,522 100.00 59,522 78,407 - (Note 16)
Ltd. objects Amerlux Lighting
Hong Kong
Limited

Delta Greentech (China) Co., Ltd. Sales of uninterruptible power systems 2,457,333 Invested by Drake- 9,389,977 - - 9,389,977 346,807 95.91 348,042 5,892,510 - (Note 4
HK, Boom and and Note
DGSG 12)

Cyntec Electronics (WuHu) Co., Manufacturing and sales of electronic 1,504,545 Invested by DHK 921,150 - - 921,150 132,256 100.00 132,256 1,284,127 - (Note 13
Ltd. components, molds, forgings and powder and Note
metallurgy products 20)

Fujian Kaixin Construction Constructions of buildings and structures, 108,157 Invested by DPT - - - - 1,093 40.00 437 12,719 - (Note 11)
Engineering Co., Ltd. building decoration, municipal public works and
landscape, etc.

415
 Accumulated
Amount remitted from Taiwan to Accumulated amount of
Accumulated Mainland China/Amount amount of Net income Investment income Book value of investment
amount of remitted back to Taiwan for the remittance from (loss) of Ownership (loss) recognised investments in income
remittance from year ended December 31, 2023 Taiwan to investee for the held by the by the Company Mainland remitted back
Taiwan to Mainland Mainland China year ended Company for the year ended China as at to Taiwan as at
Investment China as at January Remitted to Remitted back as at December December 31, (direct or December 31, December 31, December 31,
Investee in Mainland China Main business activities Paid-in capital method 1, 2023 Mainland China to Taiwan 31, 2023 2023 indirect) 2023 2023 2023 Footnote
Delta Electronics (Chongqing) Ltd. Manufacturing electronic parts of new energy $ 1,074,675 Invested by DHK $ - $ - $ - $ - ($ 23,251) 100.00 ($ 23,672) $ 845,552 - (Note 13)
vehicles and parts for power of electronic
equipment

Universal Instruments Precision automation solutions 125,329 Invested by UI - - - - 14,072 100.00 14,072 98,629 - (Note 18)
Mfg.(Shenzhen) Co. Ltd. European Holdco.
Cooperatief U.A.

Note 1: The capital was translated based on the capital certified report of the investee companies into New Taiwan Dollars at the average exchange rate of RMB 7.09730 to US$1 and NTD 4.32629 to RMB$1.
Note 2: The accumulated remittance as at January 1, 2023, remitted or collected this period, accumulated remittance as at December 31, 2023 and investment income remitted back as at December 31, 2023 was translated into New Taiwan Dollars at the average
exchange rate of NTD 30.705 to US$1 at the balance sheet date.

Mainland China.

Also, the investment structure was approved by Investment Department, MOEA to be adjusted on March 24, 2023 but has not yet been completed as of December 31, 2023.

Note 10: This company had been deregistered in December 2023.

Note 11: According to the regulations of the Investment Department, MOEA, the reinvestment of the investee companies in Mainland China is not required to obtain the approval of the Investment Department, MOEA; thus the investment amounts are excluded from the

Note 12: Jointly invested through Drake Investment (HK) Limited, DELTA GREENTECH SGP Pte. Ltd. and Boom Treasure Limited.
Note 13: Invest through Delta Electronics (H.K.) Ltd.
Note 14: Invest through Delta Networks (HK) Limited.
Note 15: Invest through DelBio Inc.
Note 16: Invest through Amerlux Lighting Hong Kong Limited.
Note 17: The Company's investment income (loss) was recognised based on audited financial statements by the Company's CPA.
Note 18: Invest through UI European Holdco. Cooperatief U.A.
Note 19: On December 27, 2022, the company was approved by Investment Department, MOEA to purchase 100% equity of Cyntec Electronics (Suzhou) Co., Ltd held by CYNTEC HOLDING (HK) LIMITED through Delta Electronics (H.K.) Ltd., a subsidiary of the company.
The transfer was completed on February 28,2023 , and therefore included in the investment amount remitted by the Company in the current period.

416
 Investment amount approved by the Ceiling of investments in Mainland
Accumulated amount remitted from Taiwan to
Company name Investment Department of Ministry of China imposed by the Investment
Mainland China as at December 31, 2023
Economic Affairs (MOEA) Department of MOEA

Delta Electronics, Inc. $ 39,700,010 $ 39,700,010

(Notes 2 and 3)

Cyntec Co., Ltd. (Note 5) - 5,809,766 19,640,241

DelBio Inc. (Notes 4 and 6) 98,732 98,732 79,617

Note 1: The accumulated amount remitted out of Taiwan to Mainland China and investment amount approved by Investment Department, MOEA was translated into New Taiwan Dollars at the average exchange rate of NTD30.705 to US$1 at the balance sheet date.
Note 2: The investment income of US$22,000 thousand, US$18,000 thousand, US$10,509 thousand and US$14,351 thousand were remitted back on March 11, 2011, June 27, 2012, August 14, 2012, June 24, 2009 and December 29, 2005, respectively,

out of Taiwan to Mainland China.

There is no ceiling of investment amount.

Note 5: Cyntec Co., Ltd. remitted back the investment income of US$9,250 thousand on June 22, 2021 from the investee company in Mainland China, Cyntec Electronics (Suzhou) Co., Ltd., and was permitted by Investment Department, MOEA on August 4, 2021, which are deductible

CYNTEC HOLDING (HK) LIMITED through Delta Electronics (H.K.) Ltd., a subsidiary of the Company. The transfer process was completed on February 28, 2023. On July 18, 2023, the Company obtained the confirmation letter from Investment Department, MOEA,
however, as of December 31, 2023, the Company has not yet remitted back the transfer price to Taiwan, and the approved investment amount has not yet been revoked by Investment Department, MOEA.

accumulated amount remitted out of Taiwan to Mainland China.

417
 Delta Electronics, Inc. and Subsidiaries
Major shareholders information
December 31, 2023
Table 11
Shares
Name of major shareholders No. of shares held Ownership (%)
DEICO INTERNATIONAL LTD. 267,556,280 10.30%
DELTRON HOLDING LTD. 218,211,168 8.40%

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 DELTA ELECTRONICS, INC.

Chairman Yancey Hai

186 Ruey Kuang Rd., Neihu, Taipei 114501, Taiwan

Tel: +886-2-8797-2088
Fax: +886-2-8797-2120