v3.26.3
Others
 6 Months Ended
Jun. 30, 2026
Others [Abstract]  
Others Others
12(1)    Capital management
The Group’s objectives of capital management are to ensure the Group’s sustainable operation and to maintain an optimal capital structure to reduce the cost of capital and provide returns for shareholders. In order to maintain or adjust to optimal capital structure, the Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt. The Group monitors capital on the basis of the gearing ratio. This ratio is calculated as total liabilities divided by total equity.
As of December 31, 2025 and June 30, 2026, the Group’s gearing ratios are as follows:
December 31, 2025June 30, 2026
Total liabilities$38,875 $37,681 
Total equity$153,095 $156,939 
Gearing ratio0.250.24
12(2)    Financial instruments
A.Financial instruments by category
December 31, 2025June 30, 2026
Financial assets
Financial assets at amortized cost
Cash and cash equivalents$125,976 $125,621 
Current financial assets at amortized cost36,300 36,400 
Accounts receivable7,567 5,955 
Other receivables358 423 
Non-current financial assets at amortized cost10,173 15,122 
Guarantee deposits paid193 170 
$180,567 $183,691 
December 31, 2025June 30, 2026
Financial liabilities
Financial liabilities at fair value through profit or loss
Warrant liabilities$419 $27 
Financial liabilities at amortized cost
Other payables (including related parties)$12,903 $13,457 
Lease liabilities$683 $644 
B.Financial risk management policies
(a)The Group’s activities expose it to a variety of financial risks: market risk (including foreign exchange risk), credit risk and liquidity risk. The Group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Group’s financial position and financial performance.
(b)Risk management is carried out by the Group’s finance department under policies approved by the management team. The Group’s finance department identifies, evaluates and hedges financial risks in close co-operation with the Group’s operating units.
C.Significant financial risks and degrees of financial risks
(a)Market risk
Foreign exchange risk
i.The Group operates internationally and is exposed to exchange rate risk arising from the transactions of the Company and its subsidiaries used in various functional currency, primarily with respect to the USD, JPY, RMB and EUR. Exchange rate risk arises from future commercial transactions and recognized assets and liabilities.
ii.The Group’s business involves some non-functional currency operations (the Company’s and certain subsidiaries’ functional currency: USD; other certain subsidiaries’ functional currency: JPY, RMB and EUR). The information of and sensitivity analysis for significant financial assets and liabilities denominated in foreign currencies illustrate as follows:
December 31, 2025
Foreign currency amount (in thousands)Exchange rateFunctional currencyBook value (USD)Sensitivity analysis
Degree of variationEffect on profit or loss
Financial assets
Monetary items
NTD:USD$252,844 0.0318$8,040 $8,040 1%$80 
EUR:USD403 1.1740473 473 1%5 
JPY:USD406,761 0.00642,603 2,603 1%26 
USD:RMB327 6.99072,286 327 1%3 
Financial liabilities
Monetary items
EUR:USD240 1.1740282 282 1%3 
USD:JPY98 156.5215,339 98 1%1 
June 30, 2026
Foreign currency amount (in thousands)Exchange rateFunctional currencyBook value (USD)Sensitivity analysis
Degree of variationEffect on profit or loss
Financial assets
Monetary items
NTD:USD$85,431 0.0314$2,683 $2,683 1%$27 
EUR:USD338 1.1393385 385 1%4 
JPY:USD561,048 0.00623,478 3,478 1%35 
USD:JPY314 162.2550,947 314 1%3 
Financial liabilities
Monetary items
EUR:USD223 1.1393254 254 1%3 
USD:JPY66 162.2510,709 66 1%1 
iii.The total exchange gain (loss), including realized and unrealized, arising from significant foreign exchange variation on the monetary items held by the Group for the six months ended June 30, 2025 and 2026, amounted to $544 and $(114), respectively.

(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 flow of financial assets at amortized cost and at fair value through profit or loss.
ii.The Group’s credit risk was mainly arising from bank deposits, trade receivables, other financial assets and deposits. The Company adopted a policy of only dealing with creditworthy counterparties and financial institutions to mitigate the risk of financial loss from defaults. The majority of cash and cash equivalents as well as current financial assets at amortized cost and at fair value through profit or loss are held with financial institutions with a rating of ‘A’.
iii.The default occurs when the contract payments are past due over 180 days.
iv.The Group adopts following assumptions under IFRS 9 to assess whether there has been a significant increase in credit risk on that instrument since initial recognition:
If the contract payments were past due over 30 days based on the terms, there has been a significant increase in credit risk on that instrument since initial recognition.
v.The following indicators are used to determine whether the credit impairment of debt instruments has occurred:
(i)It becomes probable that the issuer will enter bankruptcy or other financial reorganization due to their financial difficulties;
(ii)The disappearance of an active market for that financial asset because of financial difficulties;
(iii)Default or delinquency in interest or principal repayments;
(iv)Adverse changes in national or regional economic conditions that are expected to cause a default.
vi.The following indicators are used to determine whether the credit impairment of accounts receivable has occurred:
(i)It becomes probable that the issuer will enter bankruptcy or other financial reorganization due to their financial difficulties;
(ii)Default or delinquency in principal repayments.
vii.The Group classifies customers’ accounts receivable in accordance with geographic area and credit rating of customer. The Group applies the modified approach to estimate expected credit loss under the provision matrix basis.
viii.The Group wrote-off the financial assets, which cannot be reasonably expected to be recovered, after initiating recourse procedures. However, the Group will continue executing the recourse procedures to secure their rights.
ix.The Group used the territory economic forecasts to adjust historical and timely information to assess the default possibility of accounts receivable.
x.As of December 31, 2025 and June 30, 2026, the provision matrix is as follows:
December 31, 2025Not past dueUp to 30 days
past due		31~90 days
past due		91~180 days
past due		Over 181 days past dueTotal
rate
0%~0.2%
0.15%~15.58%
0.31%~33.48%
0.63%~100%
100%
Total book value$7,124 $75 $149 $286 $114 $7,748 
Loss allowance3 6 38 20 114 181 
June 30, 2026Not past dueUp to 30 days
past due		31~90 days
past due		91~180 days
past due		Over 181 days past dueTotal
rate
0%~0.02%
4.04%~6.63%
12.74%~20.36%
18.79%~95.36%
100%
Total book value$5,783 $69 $65 $89 $125 $6,131 
Loss allowance1 3 10 37 125 176 
xi.Movements in relation to the Group applying the modified approach to provide loss allowance for accounts receivable is as follows:
Accounts receivable
At December 31, 2025$181 
Provision for impairment363 
Write-offs(368)
At June 30, 2026$176 
xii.The loss amounts of accounts receivable allowance using simplified method were de minimis, thus, the loss was not recognized as at December 31, 2025 and June 30, 2026.
xiii.The Group used the territory economic forecasts to adjust historical and timely information to assess the default possibility of debt instruments. As of June 30, 2026, the Group assessed the expected credit losses of its debt instruments measured at amortized cost in accordance with IFRS 9. The assessment indicated that the credit risk of these instruments remained low and no significant increase in credit risk had occurred during the reporting periods.
(c)Liquidity risk
i.Cash flow forecasting is performed in the operating entities of the Group and aggregated by the Group’s finance department. The Group’s finance department monitors rolling forecasts of the Group’s liquidity requirements to ensure it has sufficient cash to meet operational needs.
ii.Surplus cash held by the operating entities over and above balance required for working capital management are managed by the Group’s finance department. The Group’s finance department invests surplus cash in interest bearing current accounts and time deposits, choosing instruments with appropriate maturities or sufficient liquidity to provide sufficient head-room as determined by the above-mentioned forecasts. As at December 31, 2025 and June 30, 2026, the Group held demand deposits, time deposits and money market position of $159,010 and $159,919, respectively. The Group manages liquidity risk by ensuring that these balances are available to meet short-term cash needs. Time deposits withdrawn early receive a lower interest rate through the withdrawal date compared to the stated interest rate applicable on the nominal maturity date. However, there are no significant risk of change in value as a result of an early withdrawal for time deposits classified as cash equivalents.
iii.The table below analyses the Group’s non-derivative financial liabilities based on the remaining period at the balance sheet date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows.
Non-derivative financial liabilities: December 31, 2025Less than 1 yearBetween 1-5 yearsOver 5 years
Financial liabilities at fair value through profit or loss$— $419 $— 
Other payables (including related parties)12,903 — — 
Lease liabilities (Note)456 240 — 
Non-derivative financial liabilities: June 30, 2026Less than 1 yearBetween 1-5 yearsOver 5 years
Financial liabilities at fair value through profit or loss$— $27 $— 
Other payables (including related parties)13,457 — — 
Lease liabilities (Note)489 168 — 
Note. The amount included the interest of estimated future payments.
12(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. The fair value of the Group’s investment in money market funds is included in Level 1.
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.Financial instruments not measured at fair value
(a)Except for those listed in the table below, the carrying amounts of the Group’s financial instruments not measured at fair value (including cash and cash equivalents, current financial assets at amortized cost, accounts receivable, other receivables (including related parties), guarantee deposits paid, other payables (including related parties) and lease liabilities) are approximate to their fair values.
December 31, 2025
Fair value
Financial assets:Book valueLevel 1Level 2Level 3
Financial assets at amortized cost
US Treasury$10,173 $10,070 $— $— 
June 30, 2026
Fair value
Financial assets:Book valueLevel 1Level 2Level 3
Financial assets at amortized cost
US Treasury$15,122 $14,969 $— $— 
(b)The methods and assumptions of fair value estimate are as follows:
i.US Treasury: They are measured at quoted price in active markets.
C.The related information of financial instruments measured at fair value by level on the basis of the nature, characteristics and risks of the assets and liabilities at December 31, 2025 and June 30, 2026 are as follows:
(a)The related information of natures of the assets and liabilities is as follows:
December 31, 2025Level 1Level 2Level 3Total
Liabilities
Recurring fair value measurements
Financial liabilities at fair value through profit or loss
Compound instrument:
Warrant liabilities$419 $— $— $419 
June 30, 2026Level 1Level 2Level 3Total
Liabilities
Recurring fair value measurements
Financial liabilities at fair value through profit or loss
Compound instrument:
Warrant liabilities$— $— $27 $27 
(b)The methods and assumptions the Group used to measure fair value are as follows:
i.Except those mentioned in point (ii) below, the carrying amounts of the Group’s financial instruments not measured at fair value (including cash and cash equivalents, current financial assets at amortized cost, accounts receivable, other receivables (including related parties), guarantee deposits paid, other payables (including related parties) and lease liabilities) are approximate to their fair values. The fair value information of financial instruments measured at fair value is provided in Note 12(2).
ii.The fair value of the Perfect Public Warrants was determined using a Monte Carlo simulation model, which estimates the expected value of the warrants under both the deal closing and deal termination scenarios. Significant unobservable inputs include the probability of completion of the proposed going-private transaction and the expected volatility under each scenario.
D.For the year ended December 31, 2025 and six months ended June 30, 2026, there were no transfers between Level 1 and Level 2
E.For the year ended December 31, 2025, there was no transfer into or out from Level 3.
F.For the six months ended June 30, 2026, the Perfect Public Warrants (NYSE ticker: PERF WS) were suspended from trading by the NYSE on April 15, 2026. Subsequently, the NYSE filed a Form 25 with the SEC and stated that the warrants would be removed from listing and registration on May 12, 2026. Accordingly, May 12, 2026 is considered the effective NYSE delisting date for the warrants. Therefore, the Company transferred the fair value from Level 1 into Level 3.
G.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 June 30, 2026Valuation techniqueunobservable
input		Relationship
of inputs to fair value
Compound instrument:
Warrant liabilities$27 Monte Carlo Simulation Model
VolatilityThe higher the volatility, the higher the fair value
Probability of completion of the proposed going-private transactionThe higher the probability of completion, the lower the fair value
H.The Group has carefully assessed 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 of profit or loss from financial liabilities categorized within Level 3 if the inputs used to valuation models have changed:
June 30, 2026
Recognized in profit or loss
InputChangeFavourable changeUnfavourable change
Warrant liabilities
Volatility±1%$3 $(3)
Probability of completion of the proposed going-private transaction±1%$1 $(1)