p.1 p.4 p.6 p.52 p.56 p.77 p.229 p.236

p.1 p.4 p.6 p.52 p.56 p.77 p.229 p.236

24 ❶ ❷ ❸ ❹ ❺ _ ❶3,000 ❷Live ❸2020/05/31 245 ❹1989 ❺24 1989 1996 1999 2008 2015-2016 2019 CNN Emmanuelle100 colors 30

〇 24 ❽ ❾ ❻ ❼ ❿ _24 ❻24 ❼24 ❽YAMAHA ❾24 ❿ 2020. 05.31 2020. 06.01 2020. 09.25 24 hours

eslite.com APP eslite.com

〇 24 FBIG

2020/09/25 2020/08/06~08/246F-

〇 2020/10/07~11/15 2020/01/24 2020/12/11~12/20? 2020/01/18 2020/07/17 Mango Naoko

合併營業收入 ( 單位 : 新台幣百萬元 ) CAGR 1.6% 4,262 4,277 5,324 4,543 4,545 FY 105 FY 106 FY 107 FY 108 FY 109 毛利率 (%) 營業利益率 (%) 淨利率 (%) 47.9 45.0 44.2 46.4 10.6 9.9 9.9 9.2 7.6 6.9 8.9 40.6 4.3( 註 1 ) 1.9 1.1 FY 105 FY 106 FY 107 FY 108 FY 109 註 1:FY108 淨利率 (%) 受到租賃相關會計準則影響而下降 配發率 (%) 每股股利 86.5 84.7 92.9 85.4 7.68 7.56 6.80 72.4 4.20( 註 2) 每股股利 ( 元 ) FY 105 FY 106 FY 107 FY 108 0.84 FY 109 每股盈餘 ( 元 ) 8.88 8.92 7.32 4.92 ( 註 3) 1.16 註 2:FY108 以資本公積發放現金註 3:FY108 每股盈餘受到租賃相關會計準則影響而下降

109 102 106 107 ( 24 )108 109 POS APP 109 eslite.com 109 () OMO 109 102 109 109 109 109 IFRS 14.6%45.45 109 0.55 1.78 1.16 41% 2% 1% 43 90,000 102 109 102 104 104 105 104 420 105 109 109 IFRS 16 109 107 108 109 24 6 1

2-3 109 APP 109 108 109 270 110-112 110-112 110-112 (OMO) 2

110-112 APP 270 110-112 OMO 270 profit and benefit 3

() 94 09 26 () 3 98 1 2 (02) 6638-5168 3 98 1 (02) 6638-5168 3 98 3 (02) 6638-5168 52 1 52 1234 (02) 6638-5168 1 49 (02) 6638-5168 1 49 6 (02) 6638-5168 1 49 8 9 (02) 6638-5168 1 46 1 1234 (02) 6638-5168 1 46 (02) 6638-5168 1 46 5 5 6 (02) 6638-5168 11 1 5 12 (02) 6638-5168 11 6 (02) 6638-5168 2 77 1 5 1 (02) 6638-5168 2 77 6 8 (02) 6638-5168 2 77 9 10 (02) 6638-5168 1 47 1 (02) 6638-5168 2 66 1 3 4 (02) 6638-5168 88 88 2 3 88 2 (02) 6638-5168 1 489491493 (02) 6638-5168 3 (02) 6638-5168 7 (02) 6638-5168 2 21 (02) 6638-5168 16 (02) 6638-5168 14 (02) 6638-5168 2 81 46 (02) 6638-5168 94 1,000 95 97 98 99 409,000 410,000 100 4

101 102 103 104 105 106 107 108 109 110 1~3 101 03 27 451,330 102 01 30 AXESexpo CNN Travel World s coolest department stores Cheers TOP 100 2018 Star Award Recommended 2018Brand Asia Trendy2019 BEST 30 Japan MF 2019 Star Award Recommended Cheers TOP 100 2020 Star Award Recommended Cheers TOP 100 15 Louis Vuitton City Guide 24 2021 Star Award Recommended Eslite Spectrum Malaysia Sdn. Bhd. 5

() () 1 2 3 1 2 3 6

1 2 1 2 3 1 2 3 1 2 3 4 1 2 3 1 2 3 1 2 3 1 2 3 1 2 3 1 2 3 1 2 3 1 2 7

() 1 109/05/27 3 109/05/27 105,034 0.22 105,034 0.22 - - 109/05/27 3 94/09/08 214,605 0.45 214,605 0.45 - - 109/05/27 3 101/06/15 131,465 0.28 131,465 0.28 9,778 0.02 109/05/27 3 94/09/08 24,420,489 51.53 24,420,489 51.53 - - 109/05/27 3 106/11/15 - - - - - - 109/05/27 3 101/06/15 - - - - - - 1 109/05/27 3 106/05/26 - - - - - - 109/05/27 3 101/06/15 - - - - - - 109/05/27 3 109/05/27 - - - - - - 1 101/06/15~109/05/26 2 101/06/15~105/12/08 8

110 03 31 % Eslite Hong Kong LimitedGalaxy Star Holdings Corporation Loyal Sun Holdings CorporationTop Sight Holdings CorporationThe Eslite Corporation Galaxy Star Holdings Corporation AcBel Polytech (Philippines) Inc. ()AcBel (USA) Polytech Inc. AcBel Polytech (SAMOA) Investment Inc.AcBel Polytech (Singapore) Pte Ltd.AcBel Polytech (UK) LimitedAcBel Polytech Japan Inc.AcBel Polytech Holdings Inc.Power Station Holdings LtdAcBel Polytech International Inc.AcBel Polytech (Ireland) LimitedEPI Technology Venture Pte. Ltd.EVERCOMM SINGAPORE PTE. LTD.CK Holdings Inc.CSA Holdings Inc. AcBel (USA) Polytech Inc.AcBel Polytech (Philippines) Inc. 3 9

2 110 03 31 38.07% 9.27% 6.51% 6.17% 6.08% 5.76% 5.59% 5.15% 3.66% 1.72% 77.78% 22.22% 3 110 03 31 85.97% 2.50% 1.26% 1.24% 1.24% 1.24% 1.05% 1.02% 1.02% 0.82% 99.80% 47.93% 34.00% 17.14% 0.29% 0.29% 0.12% 0.12% 0.11% 25.00% 25.00% 25.00% 12.50% 12.50% 10

4 110 03 31 1 2 3 4 5 6 7 8 9 10 11 12 0 0 2 2 1 0 2 (1) (2) (3) 1% (4) (1)(2)(3) (5) 5% 27 1 2 (6) (7) (8) 5 20% 50% (9) 50 (10) (11) 30 (12) 27 11

() 110 03 31 % 99/09/01 214,605 0.45 - - - - 99/09/01 131,465 0.28 9,778 0.02 - - 103/11/11 - - - - - - 105/12/06 22,846 0.05 - - - - 110/01/01 - - - - - - 106/06/05 - - - - - - 105/05/10 - - - - - - 12

Eslite Hong Kong Limited Galaxy Star Holdings CorporationLoyal Sun Holdings CorporationTop Sight Holdings CorporationThe Eslite Corporation 9 3 Galaxy Star Holdings Corporation Japan MF Loyal Sun Holdings Corporation Grand Step Holdings CorporationEslite Spectrum Malaysia Sdn. Bhd.Foli Interior Design Malaysia Sdn. Bhd. Loyal Sun Holdings Corporation 13

() A B C D 2,170 2,170 0 0 2,030 2,030 290 290 930 930 0 0 870 870 340 340 109 05 27 1 2 14

ABC E 109 12 31 ABCD EF G F G 8.15% 8.15% 13,164 13,164 108 108 0 0 0 0 32.26% 32.26% 2,240 () 3.89% 3.89% 0 0 0 0 0 0 0 0 3.89% 3.89% 0 15

ABCD H ABCDEFG I 1,000,000 1,000,000 2,000,000 2,000,000 3,500,000 3,500,000 5,000,000 5,000,000 10,000,000 10,000,000 15,000,000 15,000,000 30,000,000 30,000,000 50,000,000 50,000,000 100,000,000 100,000,000 12 12 12 12 16

() 109 12 31 1 A 1 B C AB C 372 372 348 348 90 90 1.47% 1.47% 520 ( 2) 1 109 05 27 2 ABC D 1,000,000 1,000,000 2,000,000 2,000,000 3,500,000 3,500,000 5,000,000 5,000,000 10,000,000 10,000,000 15,000,000 15,000,000 30,000,000 30,000,000 50,000,000 50,000,000 100,000,000 100,000,000 3 3 17

() 109 12 31 ABC D A B C D % 14,476 14,476 324 324 6,440 6,440 0 0 0 0 38.57% 38.57% 2,240 () E 1,000,000 1,000,000 2,000,000 2,000,000 3,500,000 3,500,000 5,000,000 5,000,000 10,000,000 10,000,000 15,000,000 15,000,000 30,000,000 30,000,000 50,000,000 50,000,000 100,000,000 100,000,000 4 4 18

() 109 12 31 0 0 0 0% () 1 109 52.08% 52.08% 108 15.02% 15.02% 2 109 05 27 3 19

() 109 8 A B B/A 3 0 100% 5 0 100% 3 0 100% 5 0 100% 8 0 100% 0 0 0% 5 0 100% 3 0 100% 2 1 67% 8 0 100% 4 1 80% 5 0 100% 3 0 100% 3 0 100% 3 0 100% 3 5 3 5 8 3 5 3 3 8 5 5 3 3 3 109 05 27 () 14 3 () ()109 110 02 26 20

1 109 05 27 109 5 2 109 109/02/26 109/03/31 109/05/12 14 3 108 108 108 108 109 109 21

14 3 109/06/05 109/08/11 109 109/10/14 109/11/11 109 109/12/08 109 Eslite Spectrum Malaysia Sdn. Bhd. 110 110 22

109/02/26 108 109/03/31 109/05/12 109/06/05 109/10/14 109/12/08 23

109/01/01 ~109/12/31 (1) (2) (3) (4) (5) 109/01/01 ~109/12/31 (1) (2) 109/05/27 ~109/12/31 (109/05/27 ) (3) (4) (5) 109/05/27 ~109/12/31 (109/05/27 ) (1) (2) (3) (4) (5) (6) 24

1 109 05 27 109 4 A B BA 4 0 100% 3 1 75% 4 0 100% 109 05 27 14 5 25

14 5 109/10/14 109/11/11 109/12/08 110 Eslite Spectrum Malaysia Sdn. Bhd. 109/08/11 14 5 2 109 01 01 05 26 3 A % B BA 3 100% 3 100% 3 100% 109 05 27 1 2 3 4 26

() () () () () () () () () () () () () () 1090527 7 4(57%) 3(43%)1 3~421 30% () () 1080812 10924 1100226 () 27

28 10 1080812 () 1 20 2 / 3 4 () 10920.5

() () http://www.eslitespectrum.com.tw () () () () 6 109 29

1096~20% 30

1 2 3 4 5 6 7 810 109/01/15 109/01/15 3.0 109/12/28 109/12/28 3.0 109/01/15 109/01/15 3.0 109/12/28 109/12/28 3.0 109/04/23 109/04/23 ; 3.0 109/08/06 109/08/06 AIoT 3.0 109/08/06 109/08/06 3.0 109/01/15 109/01/15 3.0 109/07/04 109/07/04 3.0 109/08/10 109/08/10 3.0 109/08/07 109/08/07 2020 3.0 3.0-109/09/24 109/09/24 3.0 109/12/28 109/12/28 3.0 31

109/09/21 109/09/21 3.0-3.0 109/12/28 109/12/28 3.0 109/04/27 109/04/27 3.0 109/07/13 109/07/13 3.0 109/07/29 109/07/29 3.0 109/10/27 109/10/27 3.0 109/01/15 109/01/16 109/07/22 109/08/06 109/08/11 109/12/28 3.0 2.5 6.0 3.0 3.0 3.0 109/09/25 109/12/03 109/12/28 6.0 6.0 3.0 109/01/15 109/12/28 109/09/28~109/09/29 3.0 3.0 12.0 32

() 1 2 1 2 3 4 5 6 7 8 9 10 2 1 1 1 0 1 1109 06 05 2 (1) (2) (3) 1% (4) (1)(2)(3) (5) 5% 27 1 2 (6) (7) (8) 5% 20% 50% (9) 50 (10) 30 33

2 (1) 3 (2) 109 06 05 112 05 26 109 4 A B % BA 2 0 100% 2 2 0 100% 2 2 0 100% 2 4 0 100% 4 2 0 100% 2 109 05 27 109 06 05 () () 109 109/02/26 108 109/05/12 109/10/14 109/12/08 109 34

() (1) (2) / (3) (4) (5) 106 LED (6) Energy Service 35

Company, ESCO (7) (8) (1) 109108 158CO2e 121CO2e 109108 64% 1090.156CO2e 1080.191CO2e 36

(2) 1081092,222 2,466 (3) 108109 8 (1) 37

(2) (3) (4) (5) 18 38

73 0800 1 2 39

1 (1) (2) (3) (4)(5) 8 2 3 1 2 109 110 5 40

1-109129,6631883 26620 101,242440 981092,045,0913,525 2-1097 59 41

() 101 06 15 109 02 26 42

109 ( ) 2,229 1,654 1 2 43

() () 44

() 1 110226 109 1.2.3.4.5. 1091231 1102267(1 )0 45

2 () () 1 109 109/05/27 108 108 2109 109/02/26 108 108 108 108 109 46

109/03/31 109/05/12 109/06/05 109/08/11 109/10/14 109/11/11 109/12/08 110/02/26 109 109 109 109 Eslite Spectrum Malaysia Sdn. Bhd. 110 110 109 109 109 109 109 110 47

() () 109/01/01109/12/31 1 2,000 2 2,000 4,000 3 4,000 6,000 4 6,000 8,000 5 8,000 10,000 6 10,000 () 3,880 0 0 0 890 890 109/01/01 109/12/31 () () () 48

1 ( 1) 109 110 03 31 - - - - - - - - ( 1) - - ( 1) - - - - - - - - ( 1) ( 1) ( 1) - - - - - - - - - - - - ( 1) - - ( 1) - - - - - - ( 1) - - - - ( 1) - - - - ( 1) - - ( 1) - - ( 1) ( 1) - - - - - - - - - - - - ( 2) - - - - - - - - - - 1109 05 27 2110 01 01 49

() () 110 03 30 % 24,420,489 51.53 - - - - 214,605 0.45 - - - - 4,200,000 8.86 - - - - 1,710,450 3.61 - - - - 1,416,651 2.99 - - - - 131,465 0.28 9,778 0.02 - - 1,078,000 2.27 - - - - 990,626 2.09 - - - - 523,950 1.11 - - - - 515,000 1.09 - - - - - - - - - - 474,260 1.00 159,069 0.34 - - 430,000 0.91 - - - - - - - - - - 50

% Galaxy Star Holdings Corp. 20,000,000 100% - - 20,000,000 100% 15,000,000 100% - - 15,000,000 100% 6,000,000 100% - - 6,000,000 100% Japan 2,600 100% - - 2,600 100% MF 6,039 61% 6,039 61% 3,575,000 65% 3,575,000 65% - - 89,256,000 100% 89,256,000 100% - - - 100% - 100% - - - 100% - 100% - - - 100% - 100% - - - 100% - 100% 100,000 100% - - 100,000 100% 51

() 1 110 03 30 94/09 10 100 1,000 100 1,000 99/10 10 41,000 410,000 41,000 410,000 $1,000 $409,000 100/03 80,000 800,000 41,000 410,000 102/02 10 80,000 800,000 45,133 451,330 $41,330 105/08 10 80,000 800,000 47,390 473,897 $22,567 2 94 09418921000 99 09988171800 100 10082292300 102 10281280900 105 10591370700 110 03 30 47,390 52,610 100,000 3 () 110 03 30 0 1 34 2,392 22 2,449 0 515,000 28,298,264 11,453,084 7,123,302 47,389,650 0.00% 1.09% 59.71% 24.17% 15.03% 100.00% 52

() 1 110 03 30 1 999 721 108,708 0.23 1,000 5,000 1,400 2,459,860 5.19 5,001 10,000 148 1,059,408 2.24 10,001 15,000 48 596,765 1.26 15,001 20,000 32 552,021 1.16 20,001 30,000 24 590,260 1.25 30,001 50,000 23 925,382 1.95 50,001 100,000 21 1,483,414 3.13 100,001 200,000 14 1,832,182 3.87 200,001 400,000 8 2,022,224 4.27 400,001 600,000 4 1,943,210 4.1 600,001 800,000 0 0 0 800,001 1,000,000 1 990,626 2.09 1,000,001 5 32,825,590 69.26 2,449 47,389,650 100.00 2 () 110 03 30 24,420,489 51.53% 4,200,000 8.86% 1,710,450 3.61% 1,416,651 2.99% 1,078,000 2.27% 990,626 2.09% () 523,950 1.11% 515,000 1.09% 474,260 1.00% 430,000 0.91% 53

() 110 108 109 03 31 1 2 134.50 115.50 80.00 108.00 65.50 73.60 123.52 86.40 75.94 27.21 23.88 5 23.01 23.04 4 5 47,390 47,390 5 4.92 1.16 5 4.2 3 0.84 4 0 0 0 0 0 0 6 25.25 73.08 7 29.58 100.92 8 3.38% 0.99% 1 2 3108 199,036,530 4.2 4109 110 02 26 110 05 28 5 6 7 8 () 1 2 110 02 26 39,807,306 0.84 54

() () 1 31 1 109 05 27 2 3 110 02 26 109 658,890 3,248,000 109 4 109 02 26 108 () 55

() 1 2 108 109 % % $3,948,189 74.16 $3,138,455 69.06 1,164,111 21.87 1,176,930 25.90 211,389 3.97 229,320 5.04 5,323,689 100.00 4,544,705 100.00 3 (1) (2) / (3) 56

4 () 1 IMF 2021 1 2020 3.5% 2020 GDP 4.3% 2009 1.7% 1929 IMF 2021 5.5%2022 4.2% 109 3.1% 110 2 110 4.6% 2020 6.1% 1961 2009 2.5% 1998 5.9% 10.2% 2.1% 0.3% 35.2% 36.8%2020 2 3.5~5.5% 2020 GDP 101 5986 2.3% 1970 2021 2021 GDP 8.2% 2020 GDP 4.8% 11 2009 5.7%2021 2021 GDP 4% 2021 1 1 3 2021 1 3 GDP 2 (1) 2008 57

99 100 103 102 105 109 8,504 4.3% 103 03 19 10330059511 CIS 58

(2) 109 38,616 0.2% 7,776 4.2% 108 12,727 109 12,921 1.5% 3,541 0.3% 3,418 19.0% 8.9% 108 7.5% 1.4% 2020 3,265 24.3% 54.0% 22.5% 29.9% 2020 39 3.9% 2.3% 16.6% 2020 146 3.2% 19.5 5.4% 25.5% 3.4% (3) UNWTO 2019 4% 15 5%2020 10 74% 3 84% 1.3 2009 11 104 108 1,186 108 844 8 109 137.7 108 88 100 2 3,700 109 59

3 (1) 60

(2) 61

(3) // 4 (1) (2) (3) (4) 10 (5) Outlet Outlet (6) () 1 (1) (2) 62

(3) 2 (1) (2) 109 6 24 24 24 9 11 Share & Shine 109 108 9 50 30 A Cultural Wonderland 108 6 30 9 30 8 107 5 9 12 30 63

106 104 11 102 (3) 107 (4) 109 09 25 4 B1 6 32 50 () 30 1 (1) 64

A 109 108 9 B 27 1864~2020 4,000 1.5L-15L 107 12 - C 104 City resort 65

(2) 107 108 109 APP 270 (3) 108 9 (4) 107 102 expo 106 expo (5) 66

2 (1) (2) (3) (4) (5) (6) () 1 2 110 03 31 44 3 108 8,360 109 8,504 1.7% GDP 4.3% 67

108 7.9 5.2% 9.5% GDP 2019 GDP 8.9% GDP 4.2% 2009 2011 2015 2018 2018 2019 2020 // 4 (1) A 32 110 16 Cheers TOP 100 109 Louis Vuitton City Guide 68

109 15 Cheers TOP 100 108 106 Cheers TOP 100 107 Brand Asia 105 CNN Travel World s coolest department stores 104 The New York TimesSaturday Night in Taipei, and the Cool Kids Are at the Bookstore 103 CNN InternationalNightclubs for literature? Why book selling is booming in Taiwan 103 The Guardian24-hour arty people: why all-night reading beats raving in Taipei 102 102 1111 101 100 Knack Weekend 99 2010 98 NONOCLETop 20 RETAILERS B 107~110 Star Award Recommended 107~108 101~106 102 2013 98 69

C 100 17,000 D E 97 108 9 F G 34 90% 109 H (2) A 109 B C 70

D E F G H (3) A 71

B C D E expo 500 19,000 F G H I J () () () () () 72

108 109 - $2,818,903 - $1,129,286-2,328,043-810,412-1,163,381-730 - 1,175,104-1,826-211,389 - - - 229,320 - - - 4,193,673-1,130,016-3,732,467-812,238 108 109 110 03 31 67 67 80 1,332 1,138 1,195 1,396 1,205 1,275 32 33 34 4.1 4.7 5.0 0.0% 0.1% 0.1% 4.3% 4.2% 6.4% 87.1% 86.7% 84.6% 7.9% 8.2% 8.2% 0.7% 0.8% 0.7% () 1 (1) (2) 73

2 Eslite e-learning 109 (1) (2) 109 643 1,320 1,327 88 3 72 30 102 3,582 6% 74

4 5 (1) A B 24 C AED D E F G H (2) A BAED C D E F G H () 75

110/01/01-119/12/31 / 110/01/01-119/12/31 / 104/01/01-113/12/31 / 110/01/01-119/12/31 / / / / 110/01/01-110/12/31 109/01/01-117/10/14 MF 93/05/22-127/11/30 76

() 110 03 31 105 106 107 108 109 $2,870,348 $3,170,230 $3,283,789 $2,969,369 $3,041,135 2 1,330,041 1,202,052 1,632,516 11,844,164 10,416,950 20,895 11,379 19,510 52,917 52,917 2 610,385 621,185 741,515 1,126,736 984,637 2 4,831,669 5,004,846 5,677,330 15,993,186 14,495,639 2 2,491,734 2,579,869 3,137,762 4,158,073 4,281,976 ( 3) 2,855,687 2,938,135 3,460,012 4,357,110 4,321,783 2 699,911 748,512 841,063 10,545,670 9,081,791 2 3,191,645 3,328,381 3,978,825 14,703,743 13,363,767 ( 3) 3,555,598 3,686,647 4,301,075 14,902,780 13,403,574 1,640,024 1,676,465 1,677,411 1,267,069 1,114,255 1 473,897 473,897 473,897 473,897 473,897 616,351 616,351 616,351 616,351 417,314 566,909 618,457 606,522 196,632 251,747 ( 3) 202,956 260,191 284,272 196,632 211,940 (17,133) (32,240) (19,359) (19,811) (28,703) 0 0 0 0 0 0 0 21,094 22,374 17,617 1,640,024 1,676,465 1,698,505 1,289,443 1,131,872 ( 3) 1,276,071 1,318,199 1,376,255 1,090,406 1,092,065 1110 2108 IFRS 16 3 109 110 02 26 77

() 105 106 107 108 109 $2,518,138 $2,486,634 $2,362,919 $1,974,183 1,994,316 1 797,680 731,289 973,768 7,550,491 8,009,063 4,397 2,265 5,383 40,083 41,727 1 770,629 935,151 1,130,438 1,311,676 1,234,306 1 4,090,844 4,155,339 4,472,508 10,876,433 11,279,412 1 2,070,199 2,082,168 2,375,718 3,084,483 3,372,862 2 2,434,152 2,440,434 2,697,968 3,283,520 3,412,669 1 380,621 396,706 419,379 6,524,881 6,792,295 1 2,450,820 2,478,874 2,795,097 9,609,364 10,165,157 2 2,814,773 2,837,140 3,117,347 9,808,401 10,204,964 473,897 473,897 473,897 473,897 473,897 616,351 616,351 616,351 616,351 417,314 566,909 618,457 606,522 196,632 251,747 2 202,956 260,191 284,272 196,632 211,940 (17,133) (32,240) (19,359) (19,811) (28,703) 0 0 0 0 0 0 0 0 0 0 1,640,024 1,676,465 1,677,411 1,267,069 1,114,255 2 1,276,071 1,318,199 1,355,161 1,068,032 1,074,448 1108 IFRS 16 2 109 110 02 26 78

() 110 03 31 105 106 107 108 109 $4,262,258 $4,277,360 $4,543,479 $5,323,689 $4,544,7055 2,039,680 1,924,657 2,028,144 2,469,315 1,843,373 450,872 392,523 314,078 472,363 87,618 62,011 126,022 123,464 (165,699) 24,618 512,883 518,545 437,542 306,664 112,236 420,663 422,784 344,891 227,607 50,299 0 0 0 0 0 420,663 422,784 344,891 227,607 50,299 1 (14,749) (22,390) 12,771 (3,427) (8,833) 405,914 400,394 357,662 224,180 41,466 420,663 422,784 346,768 233,270 55,065 0 0 (1,877) (5,663) (4,766) 405,914 400,394 359,212 229,900 46,223 0 0 (1,550) (5,720) (4,757) 2 8.88 8.92 7.32 4.92 1.16 1110 2 79

() 105 106 107 108 109 $3,193,180 $3,202,201 $3,410,784 $3,901,648 $3,557,842 1,523,761 1,477,425 1,507,100 1,748,108 1,421,794 342,089 328,488 254,548 377,212 105,916 155,229 154,016 153,521 (67,964) (43,934) 497,318 482,504 408,069 309,248 61,982 420,663 422,784 346,768 233,270 55,065 0 0 0 0 0 420,663 422,784 346,768 233,270 55,065 (14,749) (22,390) 12,444 (3,370) (8,842) 405,914 400,394 359,212 229,900 46,223 8.88 8.92 7.32 4.92 1.16 () 105 106 107 108 109 80

() 105 106 107 108 109 110 03 31 %1 66.05 66.50 70.08 91.93 92.19 % 175.92 201.74 155.56 99.92 98.04 % 115.19 122.88 104.65 71.41 71.02 % 98.65 104.48 88.25 55.52 54.80 216.59 128.59 178.93 2.14 1.51 7.21 6.84 5.91 7.01 6.14 50.62 53.36 61.73 52.06 59.44 6.35 5.38 5.16 5.00 4.10 1.25 1.26 1.25 1.46 1.63 57.48 67.84 70.73 73.00 89.02 3.46 3.37 3.21 0.41 0.40 0.90 0.86 0.85 0.31 0.29 % 8.98 8.66 6.49 2.48 0.97 % 26.15 25.49 20.43 17.04 4.15 % 108.22 109.42 92.32 64.71 23.68 % 9.86 9.88 7.59 4.27 1.10 8.88 8.92 7.32 4.92 1.16 % 40.06 25.77 21.33 43.11 30.58 % 95.75 94.15 107.84 131.84 154.97 % 19.87 8.60 8.08 6.55 5.22 2.47 2.59 3.30 2.61 8.58 1.00 1.01 1.00 2.31-0.66 2 20% 1 2 3 4 1105 106 107 12 31 / IFRS 16 2110 81

() 105 106 107 108 109 % 59.90 59.65 62.49 88.35 90.12 % 253.31 283.49 215.32 103.19 98.72 % 121.63 119.42 99.46 64.00 59.12 % 102.30 97.54 78.61 43.35 39.16 242.30 243.34 203.11 3.69 1.56 6.22 5.69 4.88 5.97 5.85 58.68 64.14 74.79 61.13 62.39 4.78 3.96 3.94 3.82 3.29 1.09 1.10 1.14 1.34 1.61 76.35 92.17 92.63 95.54 110.94 3.98 4.18 4.00 0.47 0.45 0.79 0.77 0.79 0.33 0.32 % 10.54 10.29 8.07 2.72 1.39 % 26.15 25.49 20.67 17.76 4.62 % 104.94 101.81 86.10 65.25 13.07 % 13.17 13.20 10.16 5.97 1.54 8.88 8.92 7.32 4.92 1.16 % 27.31 21.24 20.24 44.54 30.32 % 119.35 103.57 104.42 120.67 134.35 % 8.00 2.69 3.98 6.44 4.99 2.54 2.53 3.16 2.45 5.82 1.00 1.00 1.00 1.43-18.80 20% 1 2 109 3 4 5 105 106 107 12 31 / IFRS 16 82

1 (1) (2) 2 (1) (2) (3) 3 (1) (2) 365 (3) (4) (5) 365 (6) (7) 4 (1) (2) (3) (4) 5 (1) (2) (3) 6 (1) (2) 83

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108 109 % $2,969,369 $3,041,135 71,766 2.42% 11,844,164 10,416,950 (1,427,214) -12.05% 52,917 52,917 0 0.00% 1,126,736 984,637 (142,099) -12.61% 15,993,186 14,495,639 (1,497,547) -9.36% 4,158,073 4,281,976 123,903 2.98% 10,545,670 9,081,791 (1,463,879) -13.88% 14,703,743 13,363,767 (1,339,976) -9.11% 1,267,069 1,114,255 (152,814) -12.06% 473,897 473,897 0 0.00% 616,351 417,314 (199,037) -32.29% 196,632 251,747 55,115 28.03% (19,811) (28,703) (8,892) 44.88% 0 0 0-22,374 17,617 (4,757) -21.26% 1,289,443 1,131,872 (157,571) -12.22% 1 20% (1) 109 (2) 108 IFRS 16 ) (3) (4) 2 229

108 109 % $5,323,689 $4,544,705 ($778,984) (14.63%) 2,469,315 1,843,373 (625,942) (25.35%) 472,363 87,618 (384,745) (81.45%) (165,699) 24,618 190,317 114.86% 306,664 112,236 (194,428) (63.40%) 227,607 50,299 (177,308) (77.90%) 1 20% 10,000 (1) (2) 2 () 109 1 2 3 123 $1,244,093 $1,309,606 $1,410,281 $1,143,418 1. 2. 3. () 230

() 110 1 2 3 1+2-3 $1,143,418 2,181,281 1,996,884 1,327,815 1 2 3 109 IFRS16 109 12 31 IFRS16 () 1 (1) ($200,616) (178.74%) 2,290 2.04% (2) A 109-178.74% IFRS 16 B 231

2 109 CPI-0.23% CPI CPI 0.36% () 1 2 109 110 03 31 $109,425 $108,600 63,467 102,084 50,336 49,956 91,825 91,750 3 109 110 03 31 50,000 4 () 109 308,671 110 141,251 () () 1 232

(1) APP 110 03 330 (2) 2 ISMS ISO27001:2013 233

() eslite () () () 69% () () () 1 102 6 107 10 108 8 106 3 108 8 234

2 105 4 107 11 108 8 108 9 108 11 108 11 109 1 () 235

() 1 100% 100% 100% 100% 100% Galaxy Star Holdings Corporation Japan 100% 65% 61% MF 100% 100% 100% 100% 2 109 12 31 P.O.Box 3119 Grand Galaxy Star Holdings Pavilion,Hibiscus Way,802 100/10/06 $374,896 Corporation West Bay Road,Grand Cayman,KY1-1205 98 2 101/09/14 150,000 3 14 236

Japan MF 104/09/22 109/10/30 106/11/16 107/03/30 107/05/15 100/11/14 204 204 5 1 3 5 1 3 204 77 10 1018 60,000 1,000 17,833 13,325 55,000 360,937 101/08/31 8 56,901 102/09/24 105/01/11 106/05/12 500 6 AB 120 2 205 1A26B 65,655 48,147 87,540 3 4 236 5 109 12 31 Galaxy Star Holdings Corporation 20,000,000 100% - - - - 15,000,000 100% 15,000,000 100% 15,000,000 100% 15,000,000 100% - - 6,000,000 100% 237

Japan MF 6,000,000 100% 6,000,000 100% 6,000,000 100% 100,000 100% 100,000 100% 100,000 100% 100,000 100% - - - - - - - - - - - - - - - - - - 3,575,000 65% 3,575,000 65% - - - - Galaxy Star Holdings Corporation 89,256,000 100% - - - - - - - - - - - - - - - - - - - - - - 238

- - - - - - - - - - - - - - - - - - 6 109 12 31 Galaxy Star Holdings Corporation Japan MF $374,896 $340,244 $0 $340,244 $0 ($164) $20,876 $1.04 150,000 1,298,351 1,171,640 126,711 192,833 (59,787) (58,841) (3.92) 60,000 38,807 58 38,749 4,941 70 (9,146) (1.52) 1,000 988 0 988 0 (12) (12) (0.12) 17,833 31,462 4,363 27,099 20,420 5,529 4,084 13,325 24,716 1,314 23,402 11,889 477 537 55,000 38,786 14,527 24,259 55,102 (11,830) (14,215) (2.58) 360,937 1,501,830 1,165,152 336,678 397,702 38,908 21,211 0.24 56,901 857,910 726,501 131,409 276,758 58,313 2,100 65,655 35,105 186,408 (151,303) 0 (693) (2,525) 48,147 52,246 97 52,149 0 (23) 654 87,540 120,750 175,970 (55,220) 122,541 (41,380) (34,157) 239

() 109 109 1 1 12 31 110 2 26 240

241

242

1 54.67% % 25,906,116 54.67 2,232,000 243

2 109 (1) % $266,959 8% $102,494 1 15-45 15-45 - $ 5,927 1% - - - - 49,902 2% - 2 15-45 15-45 - 234,851 20% - - - 3 1 2 3 244

(2) 2 1 3 109/08 109/11 $57 15-45 - - - - - - 109/08 109/11 109/12 $535 15-45 - - - - - - 1 2(1) (2) (3) 3 - - 245

(3) (4) 135137 106.01-110.12 $ 6,771 (5) $ 42,217 170,061 19,858 246

3 % $ 100,000 $ 100,000 8.97% - - - - - - ( 1) $ 50,000 $ 50,000 4.49% - - - - - - ( 2) 247

248