ASE Technology Holding Co., Ltd. and Subsidiaries

ASE Technology Holding Co., Ltd.
and Subsidiaries
Consolidated Financial Statements as of December 31,
2021 and 2022 and for the Years Ended December 31,
2020, 2021 and 2022 and
Reports of Independent Registered Public
Accounting Firms
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the shareholders and the Board of Directors of

ASE Technology Holding Co., Ltd.
Opinion on the Financial Statements
We have audited the accompanying consolidated balance sheets of ASE Technology Holding Co., Ltd. (a
Republic of China corporation) and its subsidiaries (collectively, the “Group”) as of December 31, 2021 and
2022, the related consolidated statements of comprehensive income, changes in equity and cash flows for each
of the three years in the period ended December 31, 2022, and the related notes (collectively referred to as the
“consolidated financial statements”) (all expressed in New Taiwan Dollars). In our opinion, based on our audits
and the report of other auditors, the consolidated financial statements present fairly, in all material respects, the
financial position of the Group as of December 31, 2021 and 2022, and the results of its operations and its cash
flows for each of the three years in the period ended December 31, 2022, in conformity with International
Financial Reporting Standards as issued by the International Accounting Standards Board.
We did not audit the consolidated financial statements of Siliconware Precision Industries Co., Ltd. and its
subsidiaries (collectively, “SPIL”), a wholly-owned subsidiary, which statements reflect total assets constituting
22% of the Group’s consolidated total assets as of December 31, 2021, and total revenue constituting 21% and
19% of the Group’s consolidated revenues for the years ended December 31, 2020 and 2021, respectively. The
consolidated financial statements of SPIL were audited by other auditors whose report has been furnished to us,
and our opinion, insofar as it relates to the amounts included for SPIL, is based solely on the report of other
auditors.
Our audits also comprehended the translation of New Taiwan dollar amounts into U.S. dollar amounts and, in
our opinion, such translation has been made in conformity with the basis stated in Note 4 to the consolidated
financial statements. Such U.S. dollar amounts are presented solely for the convenience of the readers outside
the Republic of China.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States) (PCAOB), the Group’s internal control over financial reporting as of December 31, 2022, based
on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of
Sponsoring Organizations of the Treadway Commission and our report dated March 20, 2023, expressed an
unqualified opinion on the Group’s internal control over financial reporting based on our audit.
Basis for Opinion
These consolidated financial statements are the responsibility of the Group’s management. Our responsibility is
to express an opinion on the Group’s consolidated financial statements based on our audits. We are a public
accounting firm registered with the PCAOB and are required to be independent with respect to the Group in
accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and
Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are
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free of material misstatement, whether due to error or fraud. Our audits included performing procedures to
assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud,
and performing procedures that respond to those risks. Such procedures included examining, on a test basis,
evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also
included evaluating the accounting principles used and significant estimates made by management, as well as
evaluating the overall presentation of the consolidated financial statements. We believe that our audits and the
report of other auditors provide a reasonable basis for our opinion.
Critical Audit Matter
The critical audit matter communicated below is a matter arising from the current-period audit of the
consolidated financial statements that was communicated or required to be communicated to the audit
committee and that (1) relates to accounts or disclosures that are material to the consolidated financial
statements and (2) involved our especially challenging, subjective, or complex judgments. The communication
of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as
a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the
critical audit matter or on the accounts or disclosures to which it relates.
Goodwill – Packaging and Testing Segments - Refer to Notes 4, 5 and 18 to the consolidated financial
statements
Critical Audit Matter Description
The Group’s evaluation of goodwill for impairment involves the comparison of the value in use of each segment
to its carrying value. The Group used the discounted cash flow model to estimate value in use, which required
management to make significant estimates and assumptions related to discount rates and forecasts of future
revenues. Changes in these assumptions could have a significant impact on either the value in use, the amount of
any goodwill impairment charge, or both. The goodwill balance was NT$52,313,399 thousand (US$1,702,356
thousand) as of December 31, 2022, of which NT$35,427,102 thousand (US$1,152,851 thousand) and
NT$13,414,275 thousand (US$436,521 thousand) were allocated to the packaging and testing segments,
respectively. The value in use of the packaging and testing segments exceeded their carrying values as of the
measurement date and, therefore, no impairment was recognized.
We identified the valuation of goodwill for the Group’s packaging and testing segments as a critical audit matter
due to the significant estimates and assumptions management makes to estimate the value in use of the
packaging and testing segments and the sensitivity of their operations to changes in demand. Auditing
management’s judgments related to the selection of the discount rates and forecasts of future revenues for the
packaging and testing segments required a high degree of auditor judgment and an increased extent of effort,
including the need to involve our fair value specialists.
How the Critical Audit Matter Was Addressed in the Audit
Our audit procedures related to the discount rates and forecasts of future revenues used by management to
estimate the value in use of the packaging and testing segments included the following, among others:
 We tested the design and operating effectiveness of controls over management’s goodwill impairment
evaluation, including those over the determination of the value in use of the packaging and testing segments,
such as controls related to management’s selection of the discount rates and assessment on the
reasonableness of forecasts of future revenues.
 We evaluated management’s ability to accurately forecast future revenues of the packaging and testing
segments by comparing their actual results to management’s historical forecasts.
 We performed sensitivity analyses to evaluate the risk of impairment if key assumptions are changed.
 With the assistance of our fair value specialists, we evaluated the reasonableness of the discount rates by
performing certain procedures, including:
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– Testing the source information underlying the determination of the discount rates and the mathematical
accuracy of the calculation.
– Developing a range of independent estimates and comparing those to the discount rates selected by
management.
/s/ Deloitte & Touche

Taipei, Taiwan
Republic of China
March 20, 2023
We have served as the Group’s auditor since 1984.
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Report of Independent Registered Public Accounting Firm
To the Board of Directors and Shareholder of

Siliconware Precision Industries Co., Ltd.
Opinion on the Financial Statements
We have audited the consolidated balance sheet of Siliconware Precision Industries Co., Ltd. and its subsidiaries
(the “Company”) as of December 31, 2021, and the related consolidated statements of comprehensive income,
of changes in equity and of cash flows for each of the two years in the period ended December 31, 2021,
including the related notes (collectively referred to as the “consolidated financial statements”) (not presented
herein). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial
position of the Company as of December 31, 2021, and the results of its operations and its cash flows for each
of the two years in the period ended December 31, 2021 in conformity with International Financial Reporting
Standards as issued by the International Accounting Standards Board.
Basis for Opinion
These consolidated financial statements are the responsibility of the Company's management. Our responsibility
is to express an opinion on the Company’s consolidated financial statements based on our audits. We are a
public accounting firm registered with the Public Company Accounting Oversight Board (United States)
(PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal
securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the
PCAOB.
We conducted our audits of these consolidated financial statements in accordance with the standards of the
PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the consolidated financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the consolidated
financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such
procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the
consolidated financial statements. Our audits also included evaluating the accounting principles used and
significant estimates made by management, as well as evaluating the overall presentation of the consolidated
financial statements. We believe that our audits provide a reasonable basis for our opinion.
/s/ PricewaterhouseCoopers, Taiwan
Taipei, Taiwan
Republic of China
March 16, 2022
We served as the Company's auditor from 1994 to 2022.
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ASE TECHNOLOGY HOLDING CO., LTD. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amounts in Thousands)
December 31, 2021 December 31, 2022

ASSETS NT$ NT$ US$ (Note 4)
CURRENT ASSETS
Cash and cash equivalents (Note 6) $ 76,073,345 $ 58,040,394 $ 1,888,721
Financial assets at fair value through profit
or loss - current (Note 7) 2,933,446 6,825,157 222,101
Contract assets - current (Note 41) 5,607,209 5,731,173 186,501
Trade receivables, net (Note 10) 115,462,210 114,646,999 3,730,784
Other receivables (Notes 10 and 30) 13,732,607 16,270,569 529,468
Current tax assets 542,180 748,519 24,358
Inventories (Note 11) 67,832,981 87,337,475 2,842,092
Inventories related to real estate business
(Notes 12 and 36) 5,412,114 5,488,676 178,610
Other financial assets - current (Notes 13 and 36) 140,857 734,465 23,901
Other current assets 4,620,779 4,543,797 147,862
Total current assets 292,357,728 300,367,224 9,774,398
NON-CURRENT ASSETS
Financial assets at fair value through profit
or loss - non-current (Note 7) 2,502,834 2,108,994 68,630
Financial assets at fair value through other
comprehensive income - non-current (Note 8) 2,019,812 1,542,271 50,188
Investments accounted for using the
equity method (Note 14) 16,996,600 14,679,346 477,688
Property, plant and equipment (Notes 15, 25,
36 and 37) 239,867,550 268,234,618 8,728,754
Right-of-use assets (Note 16) 10,680,262 11,060,783 359,934
Investment properties (Notes 17, 25 and 36) 22,144,787 21,729,092 707,097
Goodwill (Note 18) 52,072,413 52,313,399 1,702,356
Other intangible assets (Notes 19 and 25) 24,563,707 21,177,708 689,154
Deferred tax assets 5,369,010 6,341,772 206,371
Other financial assets - non-current (Notes 13
and 36) 1,416,123 4,444,059 144,616
Other non-current assets 3,275,073 3,590,576 116,843
Total non-current assets 380,908,171 407,222,618 13,251,631
TOTAL $ 673,265,899 $ 707,589,842 $ 23,026,029
(Continued)
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CONSOLIDATED BALANCE SHEETS
December 31, 2021 December 31, 2022

LIABILITIES AND EQUITY NT$ NT$ US$ (Note 4)
CURRENT LIABILITIES
Short-term borrowings (Notes 20 and 36) $ 34,319,464 $ 34,526,510 $ 1,123,544
Financial liabilities at fair value through
profit or loss - current (Note 7) 417,660 626,760 20,396
Financial liabilities for hedging - current
(Notes 20 and 34) 6,716,965 12,204,620 397,157
Trade payables 84,470,284 78,997,300 2,570,690
Other payables (Note 22) 46,696,900 57,115,100 1,858,610
Current tax liabilities 16,362,350 18,360,792 597,488
Lease liabilities - current (Note 16) 809,536 979,612 31,878
Current portion of bonds payable (Note 21) 9,902,710 4,998,971 162,674
Current portion of long-term borrowings
(Notes 20 and 36) 4,526,683 5,041,841 164,069
Other current liabilities 13,022,789 16,473,962 536,087
Total current liabilities 217,245,341 229,325,468 7,462,593
NON-CURRENT LIABILITIES
Financial liabilities for hedging - non-current
(Notes 20 and 34) 4,780,931 - -
Bonds payable (Note 21) 42,364,627 42,851,353 1,394,447
Long-term borrowings (Notes 20 and 36) 117,164,876 94,947,610 3,089,737
Deferred tax liabilities 7,590,197 8,585,132 279,373
Lease liabilities - non-current (Note 16) 6,590,348 6,728,875 218,968
Net defined benefit liabilities (Note 23) 5,864,071 4,325,492 140,758
Other non-current liabilities 3,494,448 7,549,527 245,673
Total non-current liabilities 187,849,498 164,987,989 5,368,956
Total liabilities 405,094,839 394,313,457 12,831,549
EQUITY ATTRIBUTABLE TO OWNERS OF THE
COMPANY (Note 24)
Share capital
Ordinary shares 44,034,146 43,642,185 1,420,182
Shares subscribed in advance 52,356 37,656 1,225
Total share capital 44,086,502 43,679,841 1,421,407
Capital surplus 143,693,168 142,607,490 4,640,660
Retained earnings
Legal reserve 6,300,198 12,582,960 409,468
Special reserve 9,569,027 10,367,052 337,359
Unappropriated earnings 69,712,555 91,556,474 2,979,384
Total retained earnings 85,581,780 114,506,486 3,726,211
Other equity (12,246,443 ) (4,166,449 ) (135,582 )
Treasury shares (7,488,362 ) (1,959,107 ) (63,752 )
Equity attributable to owners of the Company 253,626,645 294,668,261 9,588,944
NON-CONTROLLING INTERESTS (Note 24) 14,544,415 18,608,124 605,536
Total equity 268,171,060 313,276,385 10,194,480
TOTAL $ 673,265,899 $ 707,589,842 $ 23,026,029
The accompanying notes are an integral part of the consolidated financial statements. (Concluded)
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Amounts in Thousands Except Earnings Per Share)
For the Year Ended December 31

2020 2021 2022
NT$ NT$ NT$ US$ (Note 4)
OPERATING REVENUES (Note 41) $ 476,978,710 $ 569,997,133 $ 670,872,643 $ 21,831,196
OPERATING COSTS (Notes 11 and 25) 398,994,442 459,628,356 535,942,631 17,440,372
GROSS PROFIT 77,984,268 110,368,777 134,930,012 4,390,824
OPERATING EXPENSES (Note 25)
Selling and marketing expenses 5,605,464 6,386,763 6,920,503 225,204
General and administrative expenses 18,200,304 20,804,032 23,464,019 763,554
Research and development expenses 19,302,418 21,053,633 24,369,907 793,033
Total operating expenses 43,108,186 48,244,428 54,754,429 1,781,791
OTHER OPERATING INCOME AND
EXPENSES, NET (Note 25) 502,492 1,189,829 1,014,328 33,008
PROFIT FROM OPERATIONS 35,378,574 63,314,178 81,189,911 2,642,041
NON-OPERATING INCOME AND
EXPENSES
Other income (Note 25) 1,474,547 1,600,099 1,730,740 56,321
Other gains and losses (Note 25) 1,827,576 17,211,099 1,667,382 54,259
Finance costs (Note 25) (3,459,511 ) (2,831,307 ) (4,009,782 ) (130,484 )
Share of the profit or loss of associates
and joint ventures 547,612 899,700 1,185,377 38,574
Total non-operating income and

expenses 390,224 16,879,591 573,717 18,670
PROFIT BEFORE INCOME TAX 35,768,798 80,193,769 81,763,628 2,660,711
INCOME TAX EXPENSE (Note 26) 7,116,898 17,943,772 17,145,534 557,941
PROFIT FOR THE YEAR 28,651,900 62,249,997 64,618,094 2,102,770
OTHER COMPREHENSIVE INCOME
(LOSS)
Items that will not be reclassified
subsequently to profit or loss:
Remeasurement of defined benefit
obligation (594,778 ) 51,167 1,157,261 37,659
Unrealized gain (loss) on equity
instruments at fair value through
other comprehensive income (166,239 ) 202,092 (423,303 ) (13,775 )
Share of other comprehensive income
(loss) of associates and joint ventures 2,656,966 3,595,194 (2,929,474 ) (95,329 )
Income tax relating to items that will
not be reclassified subsequently
to profit or loss (122,901 ) (179,403 ) 161,609 5,259
1,773,048 3,669,050 (2,033,907 ) (66,186 )
(Continued)
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Amounts in Thousands Except Earnings Per Share)

2020 2021 2022
Items that may be reclassified
subsequently to profit or loss:
Exchange differences on translating
foreign operations $ (831,784 ) $ (4,094,565 ) $ 10,326,729 $ 336,047
Unrealized gain (loss) on debt
investments at fair value through
other comprehensive income (2,136 ) 63,722 (16,746 ) (545 )
Gain (loss) on hedging instruments (574,824 ) 738,600 509,229 16,571
Share of other comprehensive
income (loss) of associates
and joint ventures 131,009 29,209 (152,833 ) (4,974 )
(1,277,735 ) (3,263,034 ) 10,666,379 347,099
Other comprehensive income
for the year, net of income tax 495,313 406,016 8,632,472 280,913
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR $ 29,147,213 $ 62,656,013 $ 73,250,566 $ 2,383,683
NET PROFIT ATTRIBUTABLE TO:
Owners of the Company $ 26,970,580 $ 60,150,167 $ 61,501,545 $ 2,001,352
Non-controlling interests 1,681,320 2,099,830 3,116,549 101,418
$ 28,651,900 $ 62,249,997 $ 64,618,094 $ 2,102,770

TOTAL COMPREHENSIVE INCOME
ATTRIBUTABLE TO:
Owners of the Company $ 27,440,726 $ 60,630,154 $ 69,706,868 $ 2,268,366
Non-controlling interests 1,706,487 2,025,859 3,543,698 115,317
$ 29,147,213 $ 62,656,013 $ 73,250,566 $ 2,383,683

EARNINGS PER SHARE (Note 27)
Basic $ 6.32 $ 13.97 $ 14.39 $ 0.47
Diluted $ 6.17 $ 13.54 $ 13.81 $ 0.45
EARNINGS PER AMERICAN
DEPOSITARY SHARE (“ADS”)
(Note 27)
Basic $ 12.65 $ 27.94 $ 28.77 $ 0.94
Diluted $ 12.33 $ 27.07 $ 27.61 $ 0.90
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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Equity Attributable to Owners of the Company

Other Equity
Unrealized Gain
Exchange (Loss) on Financial
Differences on Assets at Fair Value
Share Capital Retained Earnings Translating Through Other Gain (Loss) Unearned
Shares Capital Legal Special Unappropriated Foreign Comprehensive on Hedging Employee Treasury Non-controlling
(In Thousands) Amounts Surplus Reserve Reserve Earnings Total Operations Income Instruments Compensation Total Shares Total Interests Total Equity
BALANCE AT JANUARY 1, 2020 4,330,528 $ 43,305,287 $ 138,910,363 $ 2,203,895 $ 6,902,782 $ 21,029,962 $ 30,136,639 $ (10,762,684 ) $ (203,098 ) $ - $ - $ (10,965,782 ) $ (1,959,107 ) $ 199,427,400 $ 13,374,912 $ 212,802,312
Appropriation of 2019 earnings
Legal reserve - - - 1,697,489 - (1,697,489 ) - - - - - - - - - -
Special reserve - - - - 3,944,915 (3,944,915 - - - - - - - - - -
Cash dividends distributed by the Company - - - - - (8,668,331 ) (8,668,331 ) - - - - - - (8,668,331 ) - (8,668,331 )
- - - 1,697,489 3,944,915 (14,310,735 ) (8,668,331 ) - - - - - - (8,668,331 ) - (8,668,331 )
Change from investments in associates accounted for
using the equity method - - 22,774 - - - - - - - - - - 22,774 - 22,774
Other changes in the capital surplus - - 1,608 - - - - - - - - - - 1,608 - 1,608
Net profit for the year ended December 31, 2020 - - - - - 26,970,580 26,970,580 - - - - - - 26,970,580 1,681,320 28,651,900
Other comprehensive income (loss) for the year ended
December 31, 2020, net of income tax - - - - - (469,748 ) (469,748 ) (879,255 ) 2,248,414 (429,265 ) - 939,894 - 470,146 25,167 495,313
Total comprehensive income (loss) for the year
ended December 31, 2020 - - - - - 26,500,832 26,500,832 (879,255 ) 2,248,414 (429,265 ) - 939,894 - 27,440,726 1,706,487 29,147,213
Cash dividends received by subsidiaries from the Company - - 145,741 - - - - - - - - - - 145,741 - 145,741
Disposal of interest in investments accounted for
using the equity method - - 2,199 - - (980 ) (980 ) - 1,094 - - 1,094 - 2,313 - 2,313
Differences between consideration and carrying amount
arising from acquisition or disposal of
subsidiaries (Note 31) - - (13,502 ) - - - - - - - - - - (13,502 ) (116,440 ) (129,942 )
Changes in percentage of ownership interest in
subsidiaries (Note 31) - - (780,533 ) - - (2,760,175 ) (2,760,175 ) - - - - - - (3,540,708 ) (588,080 ) (4,128,788 )
Issue of ordinary shares under employee share options
(Note 28) 21,064 210,633 1,588,792 - - - - - - - - - - 1,799,425 - 1,799,425
Cash dividends distributed by subsidiaries - - - - - - - - - - - - - - (346,774 ) (346,774 )
Additional non-controlling interest arising on issue of
employee share options by subsidiaries (Note 28) - - (109,892 ) - - (392,447 ) (392,447 ) - - - - - - (502,339 ) 1,591,904 1,089,565
Disposal of investments in equity instruments at fair value
through other comprehensive income - - - - - 18,508 18,508 - (18,508 ) - - (18,508 ) - - - -
BALANCE AT DECEMBER 31, 2020
(RETROSPECTIVELY ADJUSTED) 4,351,592 $ 43,515,920 $ 139,767,550 $ 3,901,384 $ 10,847,697 $ 30,084,965 $ 44,834,046 $ (11,641,939 ) $ 2,027,902 $ (429,265 ) $ - $ (10,043,302 ) $ (1,959,107 ) $ 216,115,107 $ 15,622,009 $ 231,737,116
BALANCE AT JANUARY 1, 2021
(RETROSPECTIVELY ADJUSTED) 4,351,592 $ 43,515,920 $ 139,767,550 $ 3,901,384 $ 10,847,697 $ 30,084,965 $ 44,834,046 $ (11,641,939 ) $ 2,027,902 $ (429,265 ) $ - $ (10,043,302 ) $ (1,959,107 ) $ 216,115,107 $ 15,622,009 $ 231,737,116
Legal reserve - - - 2,398,814 - (2,398,814 ) - - - - - - - - - -
Special reserve - - - - (1,278,670 ) 1,278,670 - - - - - - - - - -
- - - 2,398,814 (1,278,670 ) (19,510,000 ) (18,389,856 ) - - - - - - (18,389,856 ) - (18,389,856 )
using the equity method - - (30,533 ) - - 450,054 450,054 - (450,054 ) - - (450,054 ) - (30,533 ) - (30,533 )
December 31, 2021, net of income tax - - - - - 25,842 25,842 (3,751,707 ) 3,654,754 551,098 - 454,145 - 479,987 (73,971 ) 406,016
ended December 31, 2021 - - - - - 60,176,009 60,176,009 (3,751,707 ) 3,654,754 551,098 - 454,145 - 60,630,154 2,025,859 62,656,013
(Continued)
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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Equity Attributable to Owners of the Company

Other Equity
Unrealized Gain
Exchange (Loss) on Financial
Differences on Assets at Fair Value
Share Capital Retained Earnings Translating Through Other Gain (Loss) Unearned
Shares Capital Legal Special Unappropriated Foreign Comprehensive on Hedging Employee Treasury Non-controlling
(In Thousands) Amounts Surplus Reserve Reserve Earnings Total Operations Income Instruments Compensation Total Shares Total Interests Total Equity
Buy-back of ordinary shares - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ (5,529,255 ) $ (5,529,255 ) $ - $ (5,529,255 )

subsidiaries (Note 31) - - (58,448 ) - - (2,530,714 ) (2,530,714 ) - - - - - - (2,589,162 ) (2,748,521 ) (5,337,683 )
(Note 28) 57,058 570,582 3,648,781 - - - - - - - (1,164,991 ) (1,164,991 ) - 3,054,372 - 3,054,372
Cash dividends distributed by subsidiaries - - - - - - - - - - - - - - (1,062,529 ) (1,062,529 )
employee share options by subsidiaries (Note 28) - - 58,448 - - - - - - - - - - 58,448 314,398 372,846
Issue of convertible bonds by subsidiary (Note 21) - - - - - - - - - - - - - - 393,199 393,199
Disposal of investments in equity instruments
at fair value through other comprehensive income - - - - - 1,042,241 1,042,241 - (1,042,241 ) - - (1,042,241 ) - - - -
BALANCE AT DECEMBER 31, 2021 4,408,650 $ 44,086,502 $ 143,693,168 $ 6,300,198 $ 9,569,027 $ 69,712,555 $ 85,581,780 $ (15,393,646 ) $ 4,190,361 $ 121,833 $ (1,164,991 ) $ (12,246,443 ) $ (7,488,362 ) $ 253,626,645 $ 14,544,415 $ 268,171,060
BALANCE AT JANUARY 1, 2022 4,408,650 $ 44,086,502 $ 143,693,168 $ 6,300,198 $ 9,569,027 $ 69,712,555 $ 85,581,780 $ (15,393,646 ) $ 4,190,361 $ 121,833 $ (1,164,991 ) $ (12,246,443 ) $ (7,488,362 ) $ 253,626,645 $ 14,544,415 $ 268,171,060
Legal reserve - - - 6,282,762 - (6,282,762 ) - - - - - - - - - -
Special reserve - - - - 798,025 (798,025 ) - - - - - - - - - -
- - - 6,282,762 798,025 (37,582,768 ) (30,501,981 ) - - - - - - (30,501,981 ) - (30,501,981 )
Donations from shareholders - - 471,894 - - - - - - - - - - 471,894 - 471,894
using the equity method - - 7,623 - - 152,102 152,102 - (152,102 ) - - (152,102 ) - 7,623 - 7,623
December 31, 2022, net of income tax - - - - - 895,896 895,896 9,864,258 (2,953,279 ) 398,448 - 7,309,427 - 8,205,323 427,149 8,632,472
ended December 31, 2022 - - - - - 62,397,441 62,397,441 9,864,258 (2,953,279 ) 398,448 - 7,309,427 - 69,706,868 3,543,698 73,250,566
Buy-back of ordinary shares - - - - - - - - - - - - (205,608 ) (205,608 ) - (205,608 )
Cancelation of treasury shares (55,000 ) (550,000 ) (2,463,716 ) - - (2,721,147 ) (2,721,147 ) - - - - - 5,734,863 - - -
subsidiaries (Note 31) - - (8,963 ) - - (211,184 ) (211,184 ) - - - - - - (220,147 ) (312,775 ) (532,922 )
(Note 28) 14,334 143,339 742,845 - - - - - - - 732,144 732,144 - 1,618,328 - 1,618,328
Cash dividends distributed by subsidiaries - - - - - - - - - - - - - - (575,089 ) (575,089 )
employee share options by subsidiaries (Note 28) - - 125,049 - - - - - - - - - - 125,049 315,871 440,920
Issue of convertible bonds by subsidiary (Note 21) - - - - - - - - - - - - - - 1,092,004 1,092,004
Disposal of investments in equity instruments
at fair value through other comprehensive income - - - - - (190,525 ) (190,525 ) - 190,525 - - 190,525 - - - -
BALANCE AT DECEMBER 31, 2022 4,367,984 $ 43,679,841 $ 142,607,490 $ 12,582,960 $ 10,367,052 $ 91,556,474 $ 114,506,486 $ (5,529,388 ) $ 1,275,505 $ 520,281 $ (432,847 ) $ (4,166,449 ) $ (1,959,107 ) $ 294,668,261 $ 18,608,124 $ 313,276,385
US DOLLARS (Note 4)
BALANCE AT DECEMBER 31, 2022 4,367,984 $ 1,421,407 $ 4,640,660 $ 409,468 $ 337,359 $ 2,979,384 $ 3,726,211 $ (179,935 ) $ 41,507 $ 16,931 $ (14,085 ) $ (135,582 ) $ (63,752 ) $ 9,588,944 $ 605,536 $ 10,194,480
- 10 -
CONSOLIDATED STATEMENTS OF CASH FLOWS

2020 2021 2022
NT$ NT$ NT$ US $ (Note 4)
CASH FLOWS FROM OPERATING

ACTIVITIES
Profit before income tax $ 35,768,798 $ 80,193,769 $ 81,763,628 $ 2,660,711
Adjustments for:
Depreciation expense 47,525,688 50,470,157 51,520,810 1,676,564
Amortization expense 3,733,377 4,054,120 3,931,079 127,923
Net loss (gain) on fair value change of
financial assets and liabilities at fair value
through profit or loss 71,848 1,490,005 (4,107,745 ) (133,672 )
Finance costs 3,459,511 2,831,307 4,009,782 130,484
Interest income (520,783 ) (542,329 ) (654,747 ) (21,306 )
Dividend income (150,715 ) (289,852 ) (278,381 ) (9,059 )
Share based compensations 955,575 699,211 989,843 32,211
Share of profit of associates and joint ventures (547,612 ) (899,700 ) (1,185,377 ) (38,574 )
Gain on disposal of property, plant and
equipment (460,868 ) (71,770 ) (113,356 ) (3,689 )
Loss (gain) on disposal of investments accounted
for using the equity method (91,297 ) 67,482 (80,317 ) (2,614 )
Impairment loss recognized on financial assets - 4,718 119,974 3,904
Reversal of impairment loss recognized on
financial assets (56,950 ) - - -
Impairment loss recognized on non-
financial assets 2,486,066 774,712 2,359,055 76,767
Gain on disposal of subsidiaries (802,753 ) (17,340,418 ) - -
Gain from bargain purchase - acquisition of
subsidiary - (33,114 ) - -
Net loss (gain) on foreign currency exchange (2,543,821 ) (1,668,522 ) 6,318,273 205,606
Others (295,859 ) (74,356 ) 6,766 220
Changes in operating assets and liabilities
Financial assets mandatorily at fair value
through profit or loss 2,188,285 2,174,012 7,070,941 230,099
Contract assets 1,113,950 (1,345,069 ) (123,964 ) (4,034 )
Trade receivables (9,396,304 ) (27,957,812 ) 754,156 24,541
Other receivables (773,411 ) (354,849 ) (1,953,605 ) (63,573 )
Inventories (13,559,192 ) (23,325,588 ) (21,669,101 ) (705,145 )
Other current assets 366,237 (819,252 ) 20,864 679
Other financial assets - (811,510 ) (3,476,090 ) (113,117 )
Other operating activities assets (14,396 ) 26,306 (606,418 ) (19,734 )
Financial liabilities held for trading (2,763,864 ) (3,814,095 ) (5,928,083 ) (192,908 )
Trade payables 14,032,779 13,654,819 (5,456,906 ) (177,576 )
Other payables 3,601,102 5,938,081 7,047,162 229,325
Other current liabilities 23,520 5,552,277 1,592,098 51,809
Other operating activities liabilities (301,838 ) 2,017,904 5,265,384 171,344
Cash generated from operations 83,047,073 90,600,644 127,135,725 4,137,186
Interest received 479,900 527,551 652,679 21,239
Dividend received 512,287 655,537 957,611 31,162
Interest paid (3,442,545 ) (2,625,883 ) (3,494,516 ) (113,717 )
Income tax paid (5,536,077 ) (7,423,947 ) (14,250,527 ) (463,733 )
Net cash generated from operating activities 75,060,638 81,733,902 111,000,972 3,612,137
(Continued)
- 11 -

2020 2021 2022
CASH FLOWS FROM INVESTING

ACTIVITIES
Purchase of financial assets at fair value through
other comprehensive income $ (259,168 ) $ (32,246 ) $ (20,000 ) $ (651 )
Proceeds from sale of financial assets at fair value
through other comprehensive income 20,686 672 - -
Return of capital from financial assets at fair value
through other comprehensive income 84,186 14,201 63,051 2,052
Proceeds from sale of financial assets at
amortized cost - 26,531 - -
Acquisition of associates and joint ventures (186,071 ) (226,560 ) (117,589 ) (3,826 )
Proceeds from disposal of investments accounted for
using the equity method 2,271,618 - - -
Net cash outflow on acquisition of subsidiaries (8,745,638 ) (180,718 ) - -
Proceeds from disposal of subsidiaries 3,717,039 23,941,276 - -
Return of capital by investee accounted for
using the equity method 125,005 - - -
Payments for property, plant and equipment (62,077,446 ) (70,905,659 ) (72,639,905 ) (2,363,811 )
Proceeds from disposal of property, plant
and equipment 4,449,113 1,605,002 749,757 24,398
Payments for intangible assets (982,655 ) (1,069,866 ) (382,767 ) (12,456 )
Proceeds from disposal of intangible assets 8,353 1,421 4,932 161
Payments for right-of-use assets (118,354 ) (956,218 ) (682,602 ) (22,213 )
Payments for investment properties (6,352 ) - (114,786 ) (3,735 )
Increase in other financial assets (822,959 ) (372,091 ) (268,205 ) (8,728 )
Decrease in other financial assets 1,083,934 447,665 252,845 8,228
Increase in other non-current assets (1,338,269 ) (1,416,675 ) (267,003 ) (8,689 )
Decrease in other non-current assets 1,244,650 324,270 280,916 9,141
Income tax paid - (570,700 ) (842,440 ) (27,414 )
Proceeds from disposal of right-of-use assets 585,902 278,126 - -
Other investing activities items 123 - 31,922 1,039
Net cash used in investing activities (60,946,303 ) (49,091,569 ) (73,951,874 ) (2,406,504 )
CASH FLOWS FROM FINANCING

ACTIVITIES
Proceeds from short-term borrowings - 10,043,398 1,866,253 60,731
Repayment of short-term borrowings (1,502,323 ) - - -
Proceeds from bonds offering 19,967,149 3,280,943 6,365,377 207,139
Repayment of bonds payable (250,000 ) (7,000,000 ) (9,904,800 ) (322,317 )
Proceeds from long-term borrowings 180,020,420 190,192,666 214,642,236 6,984,778
Repayment of long-term borrowings (206,520,559 ) (174,173,841 ) (244,158,657 ) (7,945,287 )
Repayment of the principle portion of lease
liabilities (844,357 ) (907,403 ) (1,035,019 ) (33,681 )
Dividends paid (8,520,982 ) (18,082,500 ) (29,990,842 ) (975,947 )
Proceeds from exercise of employee share options 1,934,530 2,727,915 1,069,255 34,795
Payments for buy-back of ordinary shares - (5,529,255 ) (205,608 ) (6,691 )
Decrease in non-controlling interests (6,291,089 ) (6,400,212 ) (1,108,010 ) (36,056 )
Other financing activities items 11,867 (22,557 ) 1,009 33
Net cash used in financing activities (21,995,344 ) (5,870,846 ) (62,458,806 ) (2,032,503 )
(Continued)
- 12 -

2020 2021 2022
EFFECTS OF EXCHANGE RATE

CHANGES ON THE BALANCE OF
CASH AND CASH EQUIVALENTS
HELD IN FOREIGN CURRENCY $ (711,795 ) $ (2,236,213 ) $ 7,376,757 $ 240,051
NET INCREASE (DECREASE) IN CASH

AND CASH EQUIVALENTS (8,592,804 ) 24,535,274 (18,032,951 ) (586,819 )
CASH AND CASH EQUIVALENTS AT

THE BEGINNING OF THE YEAR 60,130,875 51,538,071 76,073,345 2,475,540
CASH AND CASH EQUIVALENTS AT

THE END OF THE YEAR $ 51,538,071 $ 76,073,345 $ 58,040,394 $ 1,888,721
- 13 -
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Amounts in Thousands, Unless Stated Otherwise)
1. GENERAL INFORMATION
ASE Technology Holding Co., Ltd. (the “Company”) is a corporation incorporated in Nanzih Technology
Industrial Park under the laws of Republic of China (“R.O.C.”) starting from April 30, 2018 (date of
incorporation). The Company and its subsidiaries (collectively referred to as the “Group”) offer a
comprehensive range of semiconductors packaging, testing, and electronic manufacturing services
(“EMS”).
The Company’s subsidiaries, Advanced Semiconductor Engineering, Inc. (symbol “2311”, “ASE”) and
Siliconware Precision Industries Co., Ltd. (symbol “2325”, “SPIL”), entered into and executed a joint share
exchange agreement to establish the Company and the Company acquired all issued and outstanding
ordinary shares of ASE and SPIL on April 30, 2018. Both of ASE’s and SPIL’s ordinary shares have been
delisted while the ordinary shares of the Company were listed starting from the same date under the symbol
“3711”. In addition, ASE’s ordinary shares that have been traded on the New York Stock Exchange (the
“NYSE”) under the symbol “ASX” in the form of American Depositary Shares (“ADS”) starting from
September 2000 were exchanged as the Company’s ADSs under the same symbol “ASX” starting from
April 30, 2018.
The ordinary shares of the Company’s subsidiary, Universal Scientific Industrial (Shanghai) Co., Ltd.
(“USISH”), have been listed on the Shanghai Stock Exchange under the symbol “601231” since February
2012.
The consolidated financial statements are presented in the Company’s functional currency, New Taiwan
dollar (NT$).
2. APPROVAL OF FINANCIAL STATEMENTS
The consolidated financial statements were authorized for issue by the management on March 15, 2023.
3. APPLICATION OF NEW AND REVISED INTERNATIONAL FINANCIAL REPORTING

STANDARDS AS ISSUED BY THE INTERNATIONAL ACCOUNTING STANDARDS BOARD
(“IASB”) (collectively, “IFRSs”)
a. Amendments to IFRSs that are mandatorily effective for the current year
In the current year, the Group applied the“Annual Improvements to IFRS Standards 2018–2020,”
amendments to IFRS 3“Reference to the Conceptual Framework,” amendments to IAS 16 “Property,
Plant and Equipment - Proceeds before Intended Use” and amendment to IAS 37 “Onerous Contracts -
Cost of Fulfilling a Contract.”
The adoption of aforementioned IFRSs did not have a material impact on the Group’s accounting
policies.
b. New, revised or amended standards and interpretations in issue but not yet effective
The Group has not applied the following new, revised or amended standards and interpretations that
have been issued but are not yet effective:
- 14 -
Effective Date
New, Revised or Amended Standards and Interpretations Announced by IASB (Note 1)
Amendments to IAS 1 “Disclosure of Accounting Policies” January 1, 2023 (Note 2)

Amendments to IAS 8 “Definition of Accounting Estimates” January 1, 2023 (Note 3)
Amendments to IAS 12 “Deferred Tax related to Assets and Liabilities January 1, 2023 (Note 4)
arising from a Single Transaction”
Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets To be determined by IASB
between an Investor and its Associate or Joint Venture”
Amendments to IFRS 16“Leases Liability in a Sale and Leaseback” January 1, 2024 (Note 5)
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
Note 1: Unless stated otherwise, the above IFRSs are effective for annual reporting periods beginning
on or after their respective effective dates.
Note 2: The amendments will be applied prospectively for annual reporting periods beginning on or
after January 1, 2023.
Note 3: The amendments will be applicable to changes in accounting estimates and changes in
accounting policies that occur on or after the beginning of the annual reporting period
beginning on or after January 1, 2023.
Note 4: Except for deferred taxes that were recognized on January 1, 2022 for temporary differences
associated with leases and decommissioning obligations, the amendments were applied
prospectively to transactions that occur on or after January 1, 2022.
Note 5: A seller-lessee shall apply the Amendments to IFRS 16 retrospectively to sale and leaseback
transactions entered into after the date of initial application of IFRS 16.
c. Significant changes in accounting policy resulted from new, revised and amended standards and
interpretations in issue but not yet effective
Except for the following, as of the date that the accompanying consolidated financial statements were
authorized for issue, the Group is continuously assessing the possible impact that the application of
other standards and interpretations will have on the Group’s financial position and financial
performance and will disclose the relevant impact when the assessment is completed.
1) Amendments to IAS 1 “Disclosure of Accounting Policies”
The amendments specify that the Group should refer to the definition of material to determine its
material accounting policy information to be disclosed. Accounting policy information is material if
it can reasonably be expected to influence decisions that the primary users of general purpose
financial statements make on the basis of those financial statements. The amendments also clarify
that:
 Accounting policy information that relates to immaterial transactions, other events or conditions
is immaterial and need not be disclosed;
 The Group may consider the accounting policy information as material because of the nature of
the related transactions, other events or conditions, even if the amounts are immaterial; and
 Not all accounting policy information relating to material transactions, other events or
conditions is itself material.
- 15 -
The amendments also illustrate that accounting policy information is likely to be considered as
material to the financial statements if that information relates to material transactions, other events
or conditions and:
a) the Group changed its accounting policy during the reporting period and this change resulted in
a material change to the information in the financial statements;
b) the Group chose the accounting policy from options permitted by the standards;
c) the accounting policy was developed in accordance with IAS 8 “Accounting Policies, Changes
in Accounting Estimates and Errors” in the absence of an IFRS that specifically applies;
d) the accounting policy relates to an area for which the Group is required to make significant
judgements or assumptions in applying an accounting policy, and the Group discloses those
judgements or assumptions; or
e) the accounting is complex and users of the financial statements would otherwise not understand
those material transactions, other events or conditions.
2) Amendments to IAS 8 “Definition of Accounting Estimates”
The amendments define that accounting estimates are monetary amounts in financial statements that
are subject to measurement uncertainty. In applying accounting policies, the Group may be required
to measure items at monetary amounts that cannot be observed directly and must instead be
estimated. In such a case, the Group uses measurement techniques and inputs to develop accounting
estimates to achieve the objective. The effects on an accounting estimate of a change in a
measurement technique or a change in an input are changes in accounting estimates unless they
result from the correction of prior period errors.
3) Amendments to IAS 12 “Deferred Tax related to Assets and Liabilities arising from a Single
Transaction”
The amendments clarify that the initial recognition exemption under IAS 12 does not apply to
transactions in which equal taxable and deductible temporary differences arise on initial
recognition. The Group shall recognize a deferred tax asset (to the extent that it is probable that
taxable profit will be available against which the deductible temporary difference can be utilized)
and a deferred tax liability for all deductible and taxable temporary differences associated with
leases and decommissioning obligations on January 1, 2022, and the Group shall recognize the
cumulative effect of initial application in retained earnings at that date. The Group shall apply the
amendments prospectively to transactions other than leases and decommissioning obligations that
occur on or after January 1, 2022.
4) Amendments to IAS 1 “Classification of Liabilities as Current or Non-current” (referred to as the

“2020 amendments”) and “Non-current Liabilities with Covenants” (referred to as the “2022
amendments”)
The 2020 amendments clarify that for a liability to be classified as non-current, the Group shall
assess whether it has the right at the end of the reporting period to defer settlement of the liability
for at least twelve months after the reporting period. If such rights are in existence at the end of the
reporting period, the liability is classified as non-current regardless of whether the Group will
exercise that right.
The 2020 amendments also stipulate that, if the right to defer settlement is subject to compliance
with specified conditions, the Group must comply with those conditions at the end of the reporting
period even if the lender does not test compliance until a later date.
- 16 -
The 2022 amendments further clarify that only covenants with which an entity is required to comply
on or before the reporting date should affect the classification of a liability as current or non-current.
Although the covenants to be complied with within twelve months after the reporting period do not
affect the classification of a liability, the Group shall disclose information that enables users of
financial statements to understand the risk of the Group that may have difficulty complying with the
covenants and repay its liabilities within twelve months after the reporting period.
The 2020 amendments stipulate that, for the purpose of liability classification, the aforementioned
settlement refers to a transfer of cash, other economic resources or the Group’s own equity
instruments to the counterparty that results in the extinguishment of the liability. However, if the
terms of a liability that could, at the option of the counterparty, result in its settlement by a transfer
of the Group’s own equity instruments, and if such option is recognized separately as equity in
accordance with IAS 32 “Financial Instruments: Presentation”, the aforementioned terms would not
affect the classification of the liability.
4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
a. Statement of compliance
The consolidated financial statements have been prepared in accordance with IFRSs as issued by the
IASB.
b. Basis of preparation
The consolidated financial statements have been prepared on the historical cost basis except for
financial instruments measured at fair value, contingent considerations assumed in business
combination, and net defined benefit liabilities which are measured at the present value of the defined
benefit obligation less the fair value of plan assets.
The fair value measurements, which are grouped into Levels 1 to 3 based on the degree to which the
fair value measurement inputs are observable and based on the significance of the inputs to the fair
value measurement in its entirety, are described as follows:
1) Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities;
2) Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for an
asset or a liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and
3) Level 3 inputs are unobservable inputs for an asset or a liability.
c. Classification of current and non-current assets and liabilities
Current assets include cash and cash equivalents and those assets held primarily for trading purposes or
expected to be realized within twelve months after the balance sheet date, unless the asset is to be used
for an exchange or to settle a liability, or otherwise remains restricted, at more than twelve months after
the balance sheet date. Current liabilities are obligations incurred for trading purposes or to be settled
within twelve months after the balance sheet date (even if an agreement to refinance, or to reschedule
payments, on a long-term basis is completed after the balance sheet date and before the consolidated
financial statements are authorized for issue) and liabilities that do not have an unconditional right to
defer settlement for at least 12 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). Assets and liabilities that are not classified as current are classified as non-current.
- 17 -
The Group engages in the construction business which has an operating cycle of over one year. The
normal operating cycle applies when considering the classification of the Group’s construction-related
assets and liabilities.
d. Basis of consolidation
1) Principles for preparing consolidated financial statements
The consolidated financial statements incorporate the financial statements of the Company and the
entities controlled by the Company (i.e. its subsidiaries).
Income and expenses of subsidiaries acquired or disposed of during the period are included in the
consolidated statement of profit or loss and other comprehensive income from the effective dates of
acquisitions up to the effective dates of disposals, as appropriate.
When necessary, adjustments are made to the financial statements of subsidiaries to bring their
accounting policies into line with those used by the Company.
All intra-group transactions, balances, income and expenses are eliminated in full upon
consolidation. Total comprehensive income of subsidiaries is attributed to the owners of the
Company and to the non-controlling interests even if this results in the non-controlling interests
having a deficit balance.
Changes in the Group’s ownership interests in subsidiaries that do not result in the Group losing
control over the subsidiaries are accounted for as equity transactions. The carrying amounts of the
interests of the Group and the non-controlling interests are adjusted to reflect the changes in their
relative interests in the subsidiaries. Any difference between the amount by which the non-
controlling interests are adjusted and the fair value of the consideration paid or received is
recognized directly in equity and attributed to the owners of the Company.
When the Group loses control of a subsidiary, a gain or loss is recognized in profit or loss and is
calculated as the difference between (i) the aggregate of the fair value of the consideration received
and any investment retained in the former subsidiary at its fair value at the date when control is lost
and (ii) the assets (including any goodwill) and liabilities and any non-controlling interests of the
former subsidiary at their carrying amounts at the date when control is lost. The Group accounts for
all amounts recognized in other comprehensive income in relation to that subsidiary on the same
basis as would be required had the Group directly disposed of the related assets or liabilities.
2) Subsidiaries included in consolidated financial statements were as follows:

Percentage of
Establishment Ownership (%)
and Operating December 31
Name of Investor Name of Investee Main Businesses Location 2021 2022
The Company ASE Engaged in the packaging and testing of R.O.C. 100.0 100.0
semiconductors
USI Inc. (“USIINC”) Holding company R.O.C. 100.0 100.0
SPIL Engaged in the assembly, testing and R.O.C. 100.0 100.0
turnkey services of integrated circuit
ASE Social Enterprise Co., Ltd. Engaged in social services and was R.O.C. - 100.0
established in June 2022
ASE A.S.E. Holding Limited Holding company Bermuda 100.0 100.0
J & R Holding Limited (“J&R Holding company Bermuda 100.0 100.0
Holding”)
Innosource Limited Holding company British Virgin 100.0 100.0
Islands
Omniquest Industrial Limited Holding company British Virgin 71.0 71.0
Islands
ASE Marketing & Service Japan Engaged in marketing and sales services Japan 100.0 100.0
Co., Ltd.
(Continued)
- 18 -
Percentage of
ASE Test, Inc. Engaged in the testing of R.O.C. 100.0 100.0

semiconductors
Luchu Development Engaged in the development of real R.O.C. 67.1 67.1
Corporation estate properties
Advanced Microelectronic Engaged in the manufacturing of R.O.C. 7.6 7.6
Products Inc. (“AMPI”) integrated circuit
ASE Singapore Pte. Ltd. Engaged in the packaging and testing of Singapore - 100.0
semiconductors (acquired from ASE
Test Limited (“ASE Test”) in
November 2022)
ASE Electronics (M) Sdn. Bhd. Engaged in the packaging and testing of Malaysia - 100.0
semiconductors (acquired from ASE
Holdings (Singapore) Pte Ltd in
November 2022)
ASE Test, Inc. Alto Enterprises Limited Holding company British Virgin 100.0 100.0
Islands
Super Zone Holdings Limited Holding company Hong Kong 100.0 100.0
Luchu Development Engaged in the development of real R.O.C. 19.0 19.0
Corporation estate properties
TLJ Intertech Inc. Engaged in information software R.O.C. 60.0 60.0
services
MingFeng Information Service Liquidation completed in February 2022 R.O.C. 100.0 -
Corp., Ltd.
AMPI Engaged in the manufacturing of R.O.C. 43.4 43.4
integrated circuit
A.S.E. Holding Limited ASE Investment (Labuan) Inc. Holding company Malaysia 70.1 70.1
ASE Test Holding company Singapore 10.2 10.2
ASE Technology Partners, Holding company British Cayman 100.0 100.0
Limited Islands
Integrated Solutions Enterprise Trading company, and was acquired in Belgium 100.0 100.0
Europe (“ITGEU”) October 2021 (Note 29)
J&R Holding ASE Test Holding company Singapore 89.8 89.8
Omniquest Industrial Limited Holding company British Virgin 8.4 8.4
Islands
J&R Industrial Inc. Engaged in leasing equipment and R.O.C. 100.0 100.0
investing activity
ASE Japan Co., Ltd. Engaged in the packaging and testing of Japan 100.0 100.0
semiconductors
ASE (U.S.) Inc. After-sales service and sales support U.S.A. 100.0 100.0
Global Advanced Packaging Holding company British Cayman 100.0 100.0
Technology Limited Islands
Innosource Limited Omniquest Industrial Limited Holding company British Virgin 20.6 20.6
Islands
ASE (Shanghai) Inc. Engaged in the production of substrates Shanghai, China 8.5 8.5
Omniquest Industrial Limited ASE Corporation Holding company British Cayman 100.0 100.0
Islands
Alto Enterprises Limited ASE (Kunshan) Inc. Engaged in the packaging and testing of Kun Shan, China (Note 2) -
semiconductors
ASE Investment (Kun Shan) Holding company (returned shares to Kun Shan, China 85.9 100.0
Limited ASE Assembly & Test (Shanghai)
Limited through capital reduction in
November 2022 and increased Alto
Enterprises Limited’s percentage of
ownership to 100%)
Super Zone Holdings Advanced Semiconductor Engaged in the packaging and testing of Shanghai, China 100.0 100.0
Limited Engineering (China) Ltd. semiconductors, after-sale services,
advisory and lease of factory
ASE Investment (Labuan) ASE (Korea) Inc. (“ASE Engaged in the packaging and testing of Korea 100.0 100.0
Inc. Korea”) semiconductors
ASE Technology Partners, ASE Technology Acquisition Holding company British Cayman 100.0 100.0
Limited Corporation Islands
ASE Test ASE Test Holdings, Ltd. Holding company British Cayman 100.0 100.0
Islands
ASE Holdings (Singapore) Pte Holding company Singapore 100.0 100.0
Ltd
ASE Investment (Labuan) Inc. Holding company Malaysia 29.9 29.9
ASE Singapore Pte. Ltd. Engaged in the packaging and testing of Singapore 100.0 -
semiconductors (disposed to ASE in
November 2022)
ASE Test Holdings, Ltd. ISE Labs, Inc. Engaged in the testing of U.S.A. 100.0 100.0
semiconductors
ISE Labs, Inc. ISE Services, Inc. Engaged in wafer procurement and U.S.A. 100.0 100.0
customer product management
services
ASE Holdings (Singapore) ASE Electronics (M) Sdn. Bhd. Engaged in the packaging and testing of Malaysia 100.0 -
Pte Ltd semiconductors (disposed to ASE in
November 2022)
Global Advanced Packaging ASE Assembly & Test Engaged in the packaging and testing of Shanghai, China 100.0 100.0
Technology Limited (Shanghai) Limited semiconductors and leasing of
properties
GAPT Holding Limited Holding company British Virgin (Note 2) -
Islands
(Continued)
- 19 -
Percentage of
GAPT Holding Limited Global Advanced Packaging Engaged in the trading of substrates Hong Kong (Note 2) -
Test (Hongkong) Limited
Global Advanced Packaging Suzhou ASEN Semiconductors Engaged in the packaging and testing of Suzhou, China (Note 2) -
Test (Hongkong) Limited Co., Ltd. (“ASEN”) semiconductors
ASE (Weihai) Inc. Engaged in the packaging and testing of Shandong, China (Note 2) -
semiconductors (acquired from J&R
Holding in October 2021 through
share exchange under restructure)
ASEN ASE Advanced Semiconductor Engaged in the packaging and testing of Shanghai, China (Note 2) -
(Shanghai) Limited semiconductors (acquired from
Global Advanced Packaging
Technology Limited in November
2021)
ASE Assembly & Test ASE Investment (Kun Shan) Holding company ( returned shares to Kun Shan, China 14.1 -
(Shanghai) Limited Limited ASE Assembly & Test (Shanghai)
Limited through capital reduction in
November 2022 and increased Alto
Enterprises Limited’s percentage of
ownership to 100%)
Wuxi Tongzhi Microelectronics Engaged in the packaging and testing of Wuxi, China 100.0 100.0
Co., Ltd. semiconductors
ISE Labs, China, Ltd. Engaged in the testing of semiconductor Shanghai, China 100.0 100.0
Shanghai Ding Hui Real Estate Engaged in the development, Shanghai, China 60.0 60.0
Development Co., Ltd. construction and sale of real estate
(“DH”) properties
DH Shanghai Ding Qi Property Engaged in the management of real Shanghai, China 100.0 100.0
Management Co., Ltd. estate properties
Shanghai Ding Wei Real Estate Engaged in the management of Shanghai, China 100.0 100.0
Development Co., Ltd. properties, parking lot business and
leasing of properties for shopping
center
Shanghai Ding Yu Real Estate Engaged in the management of Shanghai, China 100.0 100.0
Development Co., Ltd. properties, parking lot business and
leasing of properties for shopping
center
Kun Shan Ding Hong Real Engaged in the development, Kun Shan, China 100.0 100.0
Estate Development Co., Ltd construction and leasing of properties
for shopping center
Shanghai Ding Xu Property Engaged in the management of real Shanghai, China 100.0 100.0
Management Co., Ltd. estate properties
Shanghai Ding Yao Estate Engaged in the management of real Shanghai, China 100.0 100.0
Development Co., Ltd. estate properties
Shanghai Ding Fan Business Engaged in the management of Shanghai, China 100.0 100.0
Management Co., Ltd. commercial complex services and
department store trading
ASE Investment (Kun Shan) ASE (Kunshan) Inc. Engaged in the packaging and testing of Kun Shan, China (Note 2) -
Limited semiconductors
ASE Corporation ASE Mauritius Inc. Holding company Mauritius 100.0 100.0
ASE Labuan Inc. Holding company Malaysia 100.0 100.0
ASE Mauritius Inc. ASE (Kunshan) Inc. Engaged in the packaging and testing of Kun Shan, China (Note 2) -
semiconductors
ASE (Shanghai) Inc. Engaged in the production of substrates Shanghai, China 91.5 91.5
ASE Labuan Inc. ASE Electronics Inc. Engaged in the production of substrates R.O.C. 100.0 100.0
ASE (Shanghai) Inc. Advanced Semiconductor Engaged in the trading of substrates Hong Kong 100.0 100.0
Engineering (HK) Limited
Shanghai Ding Hui Real Estate Engaged in the development, Shanghai, China 40.0 40.0
Development Co., Ltd. construction and sale of real estate
properties
Universal Scientific Industrial Engaged in the designing, Shanghai, China 0.8 0.8
(Shanghai) Co., Ltd. manufacturing and sales of electronic
(“USISH”) components
USIINC Huntington Holdings Holding company British Virgin 100.0 100.0
International Co., Ltd. Islands
Huntington Holdings Unitech Holdings International Holding company British Virgin 100.0 100.0
International Co., Ltd. Co., Ltd. Islands
Real Tech Holdings Limited Holding company British Virgin 100.0 100.0
Islands
Universal ABIT Holding Co., In the process of liquidation British Cayman 100.0 100.0
Ltd. Islands
Real Tech Holdings Limited USI Enterprise Limited Engaged in the service of investment Hong Kong 100.0 100.0
(“USIE”) advisory and warehousing
management
USIE USISH Engaged in the designing, Shanghai, China 77.2 77.3
manufacturing and sales of electronic
components
USISH Universal Global Technology Holding company Hong Kong 100.0 100.0
Co., Limited (“UGT”)
Universal Global Technology Engaged in the designing and Kun Shan, China 100.0 100.0
(Kunshan) Co., Ltd. manufacturing of electronic
(“UGKS”) components
(Continued)
- 20 -
Percentage of
Universal Global Technology Engaged in the processing and sales of Shanghai, China 100.0 100.0
(Shanghai) Co., Ltd. computer and communication
peripherals as well as business in
import and export of goods and
technology
Universal Global Electronics Engaged in the sales of electronic Shanghai, China 100.0 100.0
(Shanghai) Co., Ltd. components and telecommunications
equipment
USI Electronics (Shenzhen) Co., Engaged in the design, manufacturing Shenzhen, China 50.0 50.0
Ltd. and sales of motherboards and
computer peripherals
Universal Global Technology Engaged in the research and Huizhou, China 100.0 100.0
(Huizhou) Co., Ltd. manufacturing of new electronic
applications, communications,
computers and other electronics
products and also provided auxiliary
technical services as well as import
and export services
FINANCIERE AFG (”FAFG”) Holding company France 10.4 10.4
UGT Universal Global Industrial Co., Engaged in manufacturing, trading and Hong Kong 100.0 100.0
Limited investing activity
Universal Global Scientific Engaged in the manufacturing of R.O.C. 100.0 100.0
Industrial Co., Ltd. components of telecommunication
(“UGTW”) and cars and provision of related
R&D services
USI America Inc. Engaged in the manufacturing and U.S.A. 100.0 100.0
processing of motherboards and
wireless network communication and
provision of related technical service
Universal Scientific Industrial Engaged in the assembling of Mexico 100.0 100.0
De Mexico S.A. De C.V. motherboards and computer
components
USI Japan Co., Ltd. Engaged in the manufacturing and sales Japan 100.0 100.0
of computer peripherals, integrated
chip and other related accessories
USI Electronics (Shenzhen) Co., Engaged in the design, manufacturing Shenzhen, China 50.0 50.0
Ltd. and sales of motherboards and
computer peripherals
Universal Global Electronics Engaged in accepting and outsourcing Hong Kong 100.0 100.0
Co., Ltd. orders as well as sales of electronic
components and service of technical
advisory
Universal Scientific Industrial Engaged in investing activities France 100.0 100.0
(France) (“USIFR”)
UNIVERSAL SCIENTIFIC Engaged in IC assembly for wearable Vietnam 100.0 100.0
INDUSTRIAL VIETNAM devices
COMPANY LIMITED
Universal Global Industrial Universal Scientific Industrial Engaged in the assembling of Mexico (Note 1) (Note 1)
Co., Limited De Mexico S.A. De C.V. motherboards and computer
components
UGTW Universal Scientific Industrial Engaged in the manufacturing, R.O.C. 100.0 100.0
Co., Ltd. processing and sales of computers,
computer peripherals and related
accessories
Universal Global Electronics Universal Scientific Industrial Engaged in the design and Poland 100.0 100.0
Co., Ltd. Poland Sp. z o.o. (“USIPL”) manufacturing of electronic
components and new electronic
applications.
Universal Global Electronics USI Science and Technology Engaged in the design of electronic Shenzhen, China 100.0 100.0
(Shanghai) Co., Ltd. (Shenzhen) Co., Ltd. components, service of technical
advisory; wholesale of electronic
components and communication
peripherals as well as business in
import and export of goods and
management of properties.
USIFR FAFG Holding company France 89.6 89.6
FAFG ASTEELFLASH GROUP Holding company (acquired 1 share France 100.0 -
from USIFR in October 2021 and
merged by FAFG in January 2022 )
MANUFACTURING POWER Engaged in the design and Tunisia 0.1 100.0
TUNISIA manufacturing of electronic
components (acquired from
ASTEELFLASH GROUP in January
2022)
ASTEELFLASH MEXICO S.A. Engaged in the design and Mexico 0.1 100.0
de C.V. manufacturing of electronic
2022)
(Continued)
- 21 -
Percentage of
ASTEELFLASH (BEDFORD) Engaged in the design and United Kingdom - 100.0

LIMITED manufacturing of electronic
2022)
ASTEELFLASH FRANCE Engaged in the design and France - 99.9
manufacturing of electronic
2022)
ASTEELFLASH TUNISIE S.A. Engaged in the design and Tunisia - 100.0
2022)
ASTEELFLASH HONG KONG Holding company (acquired from Hong Kong - 100.0
LIMITED ASTEELFLASH GROUP in January
2022)
ASTEELFLASH GERMANY Engaged in the design and Germany - 100.0
GmbH manufacturing of electronic
2022)
ASTEELFLASH US HOLDING Holding company (acquired from U.S.A. - 100.0
CORP. ASTEELFLASH GROUP in January
2022)
AFERH TUNISIE Engaged in the management, training Tunisia - 0.5
and consulting of human resources
(acquired from ASTEELFLASH
GROUP in January 2022)
ASTEEL ELECTRONICS Engaged in the design and Tunisia - 0.1
MANUFACTURING manufacturing of electronic
SERVICES components (acquired from
2022)
ASTEELFLASH PLZEN S.R.O. Engaged in the design and Czech Republic - 100.0
2022)
ASTEELFLASH GROUP ASTEELFLASH (BEDFORD) Engaged in the design and United Kingdom 100.0 -
LIMITED manufacturing of electronic
components (disposed to FAFG in
January 2022)
ASTEELFLASH FRANCE Engaged in the design and France 99.9 -
January 2022)
ASTEELFLASH TUNISIE S.A. Engaged in the design and Tunisia 100.0 -
January 2022)
ASTEELFLASH HONG KONG Holding company (disposed to FAFG in Hong Kong 100.0 -
LIMITED January 2022)
ASTEELFLASH MEXICO S.A. Engaged in the design and Mexico 99.9 -
de C.V. manufacturing of electronic
January 2022)
ASTEELFLASH GERMANY Engaged in the design and Germany 100.0 -
January 2022)
MANUFACTURING POWER Engaged in the design and Tunisia 99.9 -
TUNISIA manufacturing of electronic
January 2022)
ASTEELFLASH US HOLDING Holding company (disposed to FAFG in U.S.A. 100.0 -
CORP. January 2022)
AFERH TUNISIE Engaged in the management, training Tunisia 0.5 -
and consulting of human resources
(disposed to FAFG in January 2022)
ASTEEL ELECTRONICS Engaged in the design and Tunisia 0.1 -
SERVICES components (disposed to FAFG in
January 2022)
ASTEELFLASH PLZEN S.R.O. Engaged in the design and Czech Republic 100.0 -
January 2022)
(Continued)
- 22 -
Percentage of
ASTEELFLASH ASTEELFLASH TUNISIE Engaged in the design and Tunisia (Note 1) (Note 1)
(BEDFORD) LIMITED S.A. manufacturing of electronic
components
ASTEELFLASH ASTEELFLASH FRANCE Engaged in the design and France (Note1 ) (Note1 )
TECHNOLOGIE manufacturing of electronic
components
ASTEELFLASH FRANCE ASTEEL ELECTRONICS Engaged in the design and Tunisia 99.9 99.9
SERVICES components
ASTEELFLASH Engaged in projection of plastic and the France 100.0 100.0
TECHNOLOGIE design and manufacturing of
industrial components
ASTEELFLASH BRETAGNE Engaged in the design and France 100.0 100.0
components
ASTEELFLASH TUNISIE S.A. Engaged in the design and Tunisia (Note 1) (Note 1)
components
AFERH TUNISIE Engaged in the management, training Tunisia 99.5 99.5
and consulting of organization and
human resources
ASTEELFLASH HONG Asteelflash Suzhou Co., Ltd. Engaged in the design and Suzhou, China 100.0 100.0
KONG LIMITED manufacturing of electronic
components
Asteelflash Suzhou Co., Ltd. ASTEELFLASH TUNISIE S.A. Engaged in the design and Tunisia (Note 1) (Note 1)
components
ASTEELFLASH ASTEELFLASH HERSFELD Engaged in the design and Germany 100.0 100.0
GERMANY GmbH GmbH manufacturing of electronic
components
ASTEELFLASH EBERBACH Engaged in the design and Germany 100.0 100.0
components
ASTEELFLASH BONN GmbH Engaged in the design and Germany 100.0 100.0
components
ASTEELFLASH Engaged in the design and Germany 100.0 100.0
SCHWANDORF GmbH manufacturing of electronic
components
ASTEELFLASH DESIGN Engaged in the design and Germany 100.0 100.0
SOLUTIONS HAMBOURG manufacturing of electronic
GmbH components
EN ELECTRONICNETWORK Engaged in the design and Romania 100.0 100.0
SRL manufacturing of electronic
components
ASTEELFLASH TUNISIE Engaged in the design and Tunisia (Note 1) (Note 1)
S.A. manufacturing of electronic
components
ASTEELFLASH MEXICO ASTEELFLASH TUNISIE Engaged in the design and Tunisia (Note 1) (Note 1)
S.A. de C.V. S.A. manufacturing of electronic
components
ASTEELFLASH US ASTEELFLASH USA CORP. Engaged in the design and U.S.A. 100.0 100.0
HOLDING CORP. manufacturing of electronic
components
ASTEELFLASH USA ASTEELFLASH TUNISIE Engaged in the design and Tunisia (Note 1) (Note 1)
CORP. S.A. manufacturing of electronic
components
SPIL SPIL (B.V.I.) Holding Limited Engaged in investing activities British Virgin 100.0 100.0
Islands
Siliconware Investment Co., Engaged in investing activities (merged R.O.C. 100.0 -
Ltd. by SPIL in March 2022)
SPIL (B.V.I.) Holding Siliconware USA, Inc. Engaged in marketing activities U.S.A. 100.0 100.0
Limited
SPIL (Cayman) Holding Limited Engaged in investing activities British Cayman 100.0 100.0
Islands
SPIL (Cayman) Holding Siliconware Technology Engaged in the packaging and testing of Suzhou, China 100.0 100.0
Limited (Suzhou) Limited semiconductors
(Concluded)
Note 1: The number of shares held was 1 share or 3 shares and the percentage of ownership was
less than 0.1%.
Note 2: In December 2021, the Company’s board of directors resolved to dispose its 100%
shareholdings in those subsidiaries, which were settled in December 2021 and resulted in
losing its control over those subsidiaries. Refer to Note 30 DISPOSAL OF
SUBSIDIARIES for related disclosure.
- 23 -
e. Business combinations
Acquisitions of businesses are accounted for using the acquisition method. Acquisition-related costs are
generally recognized in profit or loss as they are incurred.
Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-
controlling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest
in the acquiree (if any) over the net of the acquisition-date amounts of the identifiable assets acquired
and the liabilities assumed. If, after re-assessment, the net of the acquisition-date amounts of the
identifiable assets acquired and liabilities assumed exceeds the sum of the consideration transferred, the
amount of any non-controlling interests in the acquiree and the fair value of the acquirer’s previously
held interest in the acquiree (if any), the excess is recognized immediately in profit or loss as a bargain
purchase gain.
Where the consideration the Group transfers in a business combination includes assets or liabilities
resulting from a contingent consideration arrangement, the contingent consideration is measured at its
acquisition-date fair value and considered as part of the consideration transferred in a business
combination. Changes in the fair value of the contingent consideration that qualify as measurement
period adjustments are adjusted retrospectively, with the corresponding adjustments being made against
goodwill or gains on bargain purchases. Measurement period adjustments are adjustments that arise
from additional information obtained during the measurement period about facts and circumstances that
existed as of the acquisition date. The measurement period does not exceed 1 year from the acquisition
date.
The subsequent accounting for changes in the fair value of the contingent consideration that do not
qualify as measurement period adjustments depends on how the contingent consideration is classified.
Contingent consideration not classified as equity is remeasured at fair value at the end of subsequent
reporting period with any gain or loss recognized in profit or loss.
When a business combination is achieved in stages, the Group’s previously held equity interest in an
acquiree is remeasured to fair value at acquisition date, and the resulting gain or loss, if any, is
recognized in profit or loss or other comprehensive income. Amounts arising from interests in the
acquiree prior to the acquisition date that have previously been recognized in other comprehensive
income are recognized on the same basis as would be required had those interest been directly disposed
of by the Group.
If the initial accounting for a business combination is incomplete by the end of the reporting period in
which the combination occurs, the Group reports provisional amounts for the items for which the
accounting is incomplete. Those provisional amounts are adjusted retrospectively during the
measurement period, or additional assets or liabilities are recognized, to reflect new information
obtained about facts and circumstances that existed at the acquisition date that, if known, would have
affected the amounts recognized at that date.
Business combination involving entities under common control is not accounted for using the
acquisition method but is accounted for at the carrying amounts of the entities. The Group elected not to
restate comparative information of the prior period in the financial statements as the business
combination was an organization restructure under common control.
f. Foreign currencies
In preparing the financial statements of each individual entity, transactions in currencies other than the
entity’s functional currency (i.e. foreign currencies) are recognized at the rates of exchange prevailing
at the dates of the transactions.
- 24 -
At each balance sheet date, monetary items denominated in foreign currencies are retranslated at the
rates prevailing at that date. Exchange differences on monetary items arising from settlement or
translation are recognized in profit or loss in the period in which they arise except for exchange
differences on transactions entered into in order to hedge certain foreign currency risks.
Non-monetary items denominated in foreign currencies that are measured at fair value are retranslated
at the rates prevailing at the date when the fair value was determined. Exchange differences arising
from the retranslation of non-monetary items are included in profit or loss for the period except for
exchange differences arising from the retranslation of non-monetary items in respect of which gains and
losses are recognized directly in other comprehensive income, in which cases, the exchange differences
are also recognized directly in other comprehensive income.
Non-monetary items denominated in a foreign currency and measured at historical cost are translated
using the exchange rate at the date of the transaction, and are not retranslated.
For the purposes of presenting the consolidated financial statements, the assets and liabilities of the
Group’s foreign operations (including subsidiaries, associates and joint ventures in other countries that
use currencies which are different from the currency of the Company) are translated into the New
Taiwan dollars using exchange rates prevailing at each balance sheet date. Income and expense items
are translated at the average exchange rates for the period. The resulting currency translation differences
are recognized in other comprehensive income and accumulated in equity attributed to the owners of the
Company and non-controlling interests as appropriate.
On the disposal of the Group’s entire interest in a foreign operation, or a disposal involving the loss of
control over a subsidiary that includes a foreign operation, or a partial disposal of an interest in a joint
arrangement or an associate that includes a foreign operation of which the retained interest becomes a
financial asset, all of the exchange differences accumulated in equity in respect of that operation
attributable to the owners of the Company are reclassified to profit or loss.
In relation to a partial disposal of a subsidiary that does not result in the Group losing control over the
subsidiary, the proportionate share of accumulated exchange differences is re-attributed to the non-
controlling interests of the subsidiary and is not recognized in profit or loss. For all other partial
disposals, the proportionate share of the accumulated exchange differences recognized in other
comprehensive income is reclassified to profit or loss.
Goodwill and fair value adjustments recognized on identifiable assets and liabilities of acquired foreign
operation are treated as assets and liabilities of the foreign operation and translated at the rates of
exchange prevailing at the end of each reporting period. Exchange differences are recognized in other
comprehensive income.
g. Inventories and inventories related to real estate business
Inventories, including raw materials, supplies, work in process, finished goods, and materials and
supplies in transit are stated at the lower of cost or net realizable value. Inventory write-downs are made
by item, except for those that may be appropriate to group items of similar or related inventories. Net
realizable value is the estimated selling prices of inventories less all estimated costs of completion and
estimated costs necessary to make the sale. Raw materials and supplies are recorded at moving average
cost while work in process and finished goods are recorded at standard cost.
Inventories related to real estate business include land and buildings held for sale, land held for
construction and construction in progress. Land held for development is recorded as land held for
construction upon obtaining the title of ownership. Prior to the completion, the borrowing costs directly
attributable to construction in progress are capitalized as part of the cost of the asset. Construction in
progress is transferred to land and buildings held for sale upon completion. Land and buildings held for
sale, construction in progress and land held for construction are stated at the lower of cost or net
realizable value and related write-downs are made by item. The amounts received in advance for real
- 25 -
estate properties are first recorded as advance receipts and then recognized as revenue when the
construction is completed and the title and significant risk of the real estate properties are transferred to
customers. Cost of sales of land and buildings held for sale are recognized based on the ratio of property
sold to the total property developed.
h. Investments in associates and joint ventures
An associate is an entity over which the Group has significant influence and that is neither a subsidiary
nor an interest in a joint venture. Joint venture is a joint arrangement whereby the Group and other
parties that have joint control of the arrangement have rights to the net assets of the arrangement.
The Group applies the equity method to investments in an associate and joint venture.
Under the equity method, investments in an associate and a joint venture are initially recognized at cost
and adjusted thereafter to recognize the Group’s share of the profit or loss and other comprehensive
income of the associate and joint venture. The Group also recognizes the changes in the Group’s share
of equity of associates and joint venture.
Any excess of the cost of acquisition over the Group’s share of the net fair value of the identifiable
assets and liabilities of an associate or a joint venture at the date of acquisition is recognized as
goodwill, which is included within the carrying amount of the investment and is not amortized. Any
excess of the Group’s share of the net fair value of the identifiable assets and liabilities over the cost of
acquisition after reassessment is recognized immediately in profit or loss.
When the Group subscribes for additional new shares of an associate and joint venture at a percentage
different from its existing ownership percentage, the resulting carrying amount of the investment differs
from the amount of the Group’s proportionate interest in the associate and joint venture. The Group
records such a difference as an adjustment to investments with the corresponding amount charged to
gain or loss on disposal of investments accounted for using the equity method. When the Group reduces
its ownership interest in an associate or a joint venture but the Group continues to use the equity
method, the Group reclassifies to profit or loss the proportion of the gain or loss that had previously
been recognised in other comprehensive income relating to that reduction in ownership interest if that
gain or loss would be reclassified to profit or loss on the disposal of the related assets or liabilities.
When the Group’s share of losses of an associate and a joint venture equals or exceeds its interest in
that associate and joint venture (which includes any carrying amount of the investment accounted for
using the equity method and long-term interests that, in substance, form part of the Group’s net
investment in the associate and joint venture), the Group discontinues recognizing its share of further
losses. Additional losses and liabilities are recognized only to the extent that the Group has incurred
legal obligations or constructive obligations, or made payments on behalf of that associate and joint
venture.
The entire carrying amount of an investment (including goodwill) is tested for impairment as a single
asset by comparing its recoverable amount with its carrying amount. Any impairment loss recognized is
not allocated to any asset, including goodwill, that forms part of the carrying amount of the investment.
Any reversal of that impairment loss is recognized to the extent that the recoverable amount of the
investment subsequently increases.
The Group discontinues the use of the equity method from the date on which its investment ceases to be
an associate and a joint venture. Any retained investment is measured at fair value at that date, and the
fair value is regarded as the investment’s fair value on initial recognition as a financial asset. The
difference between the previous carrying amount of the associate and the joint venture attributable to
the retained interest and its fair value is included in the determination of the gain or loss on disposal of
the associate and the joint venture. The Group accounts for all amounts previously recognized in other
comprehensive income in relation to that associate and joint venture on the same basis as would be
required had that associate directly disposed of the related assets or liabilities. If an investment in an
- 26 -
associate becomes an investment in a joint venture or an investment in a joint venture becomes an
investment in an associate, the Group continues to apply the equity method and does not remeasure the
retained interest.
When a group entity transacts with its associate and joint venture, profits and losses resulting from the
transactions with the associate and joint venture are recognized in the Group’ consolidated financial
statements only to the extent that interests in the associate and the joint venture are not related to the
Group.
i. Property, plant and equipment
Except for land which is stated at cost, property, plant and equipment are stated at cost less accumulated
depreciation and accumulated impairment.
Properties in the course of construction are carried at cost, less any recognized impairment loss. Cost
includes professional fees and borrowing costs eligible for capitalization. Such assets are depreciated
and classified to the appropriate categories of property, plant and equipment when completed and ready
for their intended use.
Freehold land is not depreciated.
Depreciation of property, plant and equipment is recognized using the straight-line method. Each
significant part is depreciated separately. The estimated useful lives, residual values and depreciation
method are reviewed at each balance sheet date, with the effect of any changes in estimate accounted
for on a prospective basis.
On derecognition of an item of property, plant and equipment, the difference between the sales proceeds
and the carrying amount of the asset is recognized in profit or loss.
j. Investment properties
Investment properties are properties held to earn rental and/or for capital appreciation. Investment
properties include right-of-use assets and properties under construction that meet the definition of
investment properties.
Freehold investment properties are initially measured at cost, including transaction costs. Subsequent to
initial recognition, investment properties are measured at cost less accumulated depreciation and
accumulated impairment loss.
Investment properties acquired through leases are initially measured at cost, which comprises the initial
measurement of lease liabilities adjusted for lease payments made on or before the commencement date,
plus initial direct costs incurred and an estimate of costs needed to restore the underlying assets, less
any lease incentives received. These investment properties are subsequently measured at cost less
accumulated depreciation and accumulated impairment loss and adjusted for any remeasurement of the
lease liabilities.
Depreciation is recognized using the straight-line method.
Investment properties under construction are measured at cost less accumulated impairment loss. Cost
includes professional fees and borrowing costs eligible for capitalization. Depreciation of these assets
commences when the assets are ready for their intended use.
For a transfer of classification from investment properties to property, plant and equipment and to right-
of-use assets, the deemed cost of the property for subsequent accounting is its carrying amount at the
commencement of owner-occupation.
- 27 -
For a transfer of classification from property, plant and equipment and right-of-use assets to investment
properties, the deemed cost of an item of property for subsequent accounting is its carrying amount at
the end of owner-occupation.
For a transfer of classification from inventories to investment properties, the deemed cost of an item of
property for subsequent accounting is its carrying amount at the inception of an operating lease.
On derecognition of an investment property, the difference between the net disposal proceeds and the
carrying amount of the asset is included in profit or loss.
k. Goodwill
Goodwill arising from an acquisition of a business is carried at cost as established at the date of
acquisition of the business less accumulated impairment loss.
For the purposes of impairment testing, goodwill is allocated to each of the Group’s cash-generating
units or groups of cash-generating units (referred to as “cash-generating unit”) that is expected to
benefit from the synergies of the combination.
A cash-generating unit to which goodwill has been allocated is tested for impairment annually, or more
frequently when there is an indication that the unit may be impaired, by comparing its carrying amount,
including the attributed goodwill, with its recoverable amount. However, if the goodwill allocated to a
cash-generating unit was acquired in a business combination during the current annual period, that unit
shall be tested for impairment before the end of the current annual period. If the recoverable amount of
the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce
the carrying amount of any goodwill allocated to the unit and then pro rata to the other assets of the unit
based on the carrying amount of each asset in the unit. Any impairment loss is recognized directly in
profit or loss. An impairment loss recognized for goodwill is not reversed in subsequent periods.
l. Other intangible assets
1) Separate acquisition
Other intangible assets with finite useful lives acquired separately are initially measured at cost and
subsequently measured at cost less accumulated amortization and accumulated impairment loss.
Other intangible assets are amortized using the straight-line method over their estimated useful
lives. The estimated useful lives, residual values, and amortization methods are reviewed at each
balance sheet date, with the effect of any changes in estimate being accounted for on a prospective
basis.
2) Acquired through business combinations
Other intangible assets acquired in a business combination and recognized separately from
goodwill are initially recognized at their fair value at the acquisition date which is regarded as their
cost. Subsequent to initial recognition, they are measured on the same basis as intangible assets that
are acquired separately.
3) Derecognition
On derecognition of an intangible asset, the difference between the net disposal proceeds and the
carrying amount of the asset are recognized in profit or loss.
- 28 -
m. Impairment of property, plant and equipment, right-of-use asset, investment properties and intangible
assets other than goodwill
At each balance sheet date or whenever events or changes in circumstances indicate that the carrying
value may not be recoverable, the Group reviews the carrying amounts of its property, plant and
equipment, right-of-use asset, investment properties and intangible assets, excluding goodwill, to
determine whether there is any indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the
impairment loss. When it is not possible to estimate the recoverable amount of an individual asset, the
Group estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Corporate assets are allocated to the individual cash-generating units on a reasonable and consistent
basis of allocation. The recoverable amount is the higher of fair value less costs to sell and value in use.
If the recoverable amount of an asset or cash-generating unit is estimated to be less than its carrying
amount, the carrying amount of the asset or cash-generating unit is reduced to its recoverable amount,
with the resulting impairment loss recognized in profit or loss.
When an impairment loss is subsequently reversed, the carrying amount of the asset or cash-generating
unit is increased to the revised estimate of its recoverable amount, but only to the extent of the carrying
amount that would have been determined had no impairment loss been recognized for the asset or cash-
generating unit in prior years. A reversal of an impairment loss is recognized immediately in profit or
loss.
n. Financial instruments
Financial assets and financial liabilities are recognized when a group entity becomes a party to the
contractual provisions of the instruments.
Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are
directly attributable to the acquisition or issue of financial assets and financial liabilities (other than
financial assets and financial liabilities at FVTPL) are added to or deducted from the fair value of the
financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly
attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss
are recognized immediately in profit or loss.
1) Financial assets
All regular way purchases or sales of financial assets are recognized and derecognized on a
settlement date basis.
a) Measurement categories
Financial assets held by the Group are classified into the following categories: financial assets at
FVTPL, financial assets at amortized cost and investments in debt instruments and equity
instruments at FVTOCI.
i. Financial asset at FVTPL
Financial asset is classified as at FVTPL when the financial asset is mandatorily classified
or it is designated as at FVTPL. The Group’s financial assets mandatorily classified as at
FVTPL include investments in equity instruments which are not designated as at FVTOCI
and debt instruments that do not meet the amortized cost criteria or the FVTOCI criteria.
Financial assets at FVTPL are subsequently measured at fair value, and any dividends or
interest earned on such financial assets are recognized in other income; any remeasurement
gains or losses on such financial assets are recognized in other gains or losses.
- 29 -
Fair value is determined in the manner described in Note 34.
ii. Financial assets at amortized cost
Financial assets that meet the following conditions are subsequently measured at amortized
cost:
i) The financial asset is held within a business model whose objective is to hold financial
assets in order to collect contractual cash flows; and
ii) The contractual terms of the financial asset give rise on specified dates to cash flows that
are solely payments of principal and interest on the principal amount outstanding.
Subsequent to initial recognition, financial assets at amortized cost, including cash and cash
equivalents, trade receivables at amortized cost, other receivables and other financial assets,
are measured at amortized cost, which equals to gross carrying amount determined using the
effective interest method less any impairment loss. Exchange differences are recognized in
profit or loss.
Interest income is calculated by applying the effective interest rate to the gross carrying
amount of a financial asset, except for:
i) Purchased or originated credit-impaired financial assets, for which interest income is

calculated by applying the credit-adjusted effective interest rate to the amortized cost of
the financial asset; and
ii) Financial assets that are not credit-impaired on purchase or origination but have
subsequently become credit-impaired, for which interest income is calculated by
applying the effective interest rate to the amortized cost of such financial assets in
subsequent reporting periods.
A financial asset is credit impaired when one or more of the following events have occurred:
i) Significant financial difficulty of the issuer or the borrower;
ii) Breach of contract, such as a default;
iii) It is becoming probable that the borrower will enter bankruptcy or undergo a financial
reorganization; or
iv) The disappearance of an active market for that financial asset because of financial
difficulties.
Cash equivalents include time deposits with original maturities within 3 months from the
date of acquisition, which are highly liquid, readily convertible to a known amount of cash
and are subject to an insignificant risk of changes in value and repurchase agreements
collateralized by bonds. These cash equivalents are held for the purpose of meeting short-
term cash commitments.
iii. Investments in debt instruments at FVTOCI
For the Group’s debt instruments that meet the following conditions are subsequently
measured at FVTOCI:
i) the debt instrument is held within a business model whose objective is achieved by both
the collecting of contractual cash flows and the selling of the financial assets; and
- 30 -
ii) the contractual terms of the debt instrument give rise on specified dates to cash flows
that are solely payments of principal and interest on the principal amount outstanding.
Investments in debt instruments at FVTOCI are subsequently measured at fair value.

Changes in the carrying amounts of these debt instruments relating to changes in foreign
currency exchange rates, interest income calculated using the effective interest method and
impairment losses or reversals are recognized in profit or loss. Other changes in the carrying
amount of these debt instruments are recognized in other comprehensive income and will be
reclassified to profit or loss when the investment is disposed of.
iv. Investments in equity instruments at FVTOCI
On initial recognition, the Group make an irrevocable election to designate investments in

equity instruments as at FVTOCI. Designation at FVTOCI is not permitted if the equity
investment is held for trading or if it is contingent consideration recognized by an acquirer in
a business combination.
Investments in equity instruments at FVTOCI are subsequently measured at fair value with
gains and losses arising from changes in fair value recognized in other comprehensive
income and accumulated in other equity. The cumulative gain or loss will not be reclassified
to profit or loss on disposal of the equity investments, instead, they will be transferred to
retained earnings.
Dividends on these investments in equity instruments are recognized in profit or loss when
the Group’s right to receive the dividends is established, unless the dividends clearly
represent a recovery of part of the cost of the investment.
b) Impairment of financial assets and contract assets
At each balance sheet date, the Group recognizes a loss allowance for expected credit losses on
financial assets at amortized cost (including trade receivables) and investments in debt
instruments that are measured at FVTOCI and contract assets.
The Group always recognizes lifetime Expected Credit Loss (“ECL”) for trade receivables and
contract assets. For all other financial instruments, the Group recognizes lifetime ECL when
there has been a significant increase in credit risk since initial recognition. If, on the other hand,
the credit risk on the financial instrument has not increased significantly since initial
recognition, the Group measures the loss allowance for that financial instrument at an amount
equal to 12-month ECL.
Expected credit losses reflect the weighted average of credit losses with the respective risks of a
default occurring as the weights. Lifetime ECL represents the expected credit losses that will
result from all possible default events over the expected life of a financial instrument. In
contrast, 12-month ECL represents the portion of lifetime ECL that is expected to result from
default events on a financial instrument that are possible within 12 months after the reporting
date.
The Group recognizes an impairment gain or loss in profit or loss for all financial instruments
with a corresponding adjustment to their carrying amount through a loss allowance account,
except for investments in debt instruments that are measured at FVTOCI, for which the loss
allowance is recognized in other comprehensive income and does not reduce the carrying
amount of the financial asset.
- 31 -
c) Derecognition of financial assets
The Group derecognizes a financial asset only when the contractual rights to the cash flows
from the asset expire or when it transfers the financial asset and substantially all the risks and
rewards of ownership of the asset to another entity.
On derecognition of a financial asset at amortized cost in its entirety, the difference between the
asset’s carrying amount and the sum of the consideration received and receivable is recognized
in profit or loss. On derecognition of an investment in a debt instrument at FVTOCI, the
difference between the asset’s carrying amount and the sum of the consideration received and
receivable and the cumulative gain or loss which had been recognized in other comprehensive
income is recognized in profit or loss. However, on derecognition of an investment in an equity
instrument at FVTOCI, the difference between the asset’s carrying amount and the sum of the
consideration received and receivable is recognized in profit or loss, and the cumulative gain or
loss which had been recognized in other comprehensive income is transferred directly to
retained earnings, without recycling through profit or loss.
2) Equity instruments
Debt and equity instruments issued by a group entity are classified as either financial liabilities or as
equity in accordance with the substance of the contractual arrangements and the definitions of a
financial liability and an equity instrument.
Equity instruments issued by a group entity are recognized at the proceeds received, net of direct
issue costs.
Repurchase of the Company’s own equity instruments is recognized in and deducted directly from
equity and calculated separately by repurchase category. No gain or loss is recognized in profit or
loss on the purchase, sale, issue or cancellation of the Company’s own equity instruments.
3) Financial liabilities
a) Subsequent measurement
All financial liabilities are measured at amortized cost using the effective interest method or at
fair value through profit or loss:
Financial liabilities are classified as at FVTPL when such financial liabilities are held for
trading. Financial liabilities held for trading are stated at fair value, and any gains or losses on
such financial liabilities are recognized in other gains or losses.
Fair value is determined in the manner described in Note 34.
b) Derecognition of financial liabilities
The difference between the carrying amount of a financial liability derecognized and the
consideration paid, including any non-cash assets transferred or liabilities assumed, is
recognized in profit or loss.
4) Derivative financial instruments
The Group enters into a variety of derivative financial instruments to manage its exposure to foreign
exchange rate risks, including forward exchange contracts, swap contracts and target redemption
forward contracts.
- 32 -
Derivatives are initially recognized at fair value at the date on which the derivative contracts are
entered into and are subsequently remeasured to their fair value at the end of each reporting period.
The resulting gain or loss is recognized in profit or loss immediately unless the derivative is
designated and effective as a hedging instrument; in which event, the timing of the recognition in
profit or loss depends on the nature of the hedging relationship. When the fair value of a derivative
financial instrument is positive, the derivative is recognized as a financial asset; when the fair value
of a derivative financial instrument is negative, the derivative is recognized as a financial liability.
Derivatives embedded in hybrid contracts that contain financial asset hosts that is within the scope
of IFRS 9 are not separated; instead, the classification is determined in accordance with the entire
hybrid contract. Derivatives embedded in non-derivative host contracts that are not financial assets
that is within the scope of IFRS 9 (e.g. financial liabilities) are treated as separate derivatives when
they meet the definition of a derivative, their risks and characteristics are not closely related to those
of the host contracts and the host contracts are not measured at FVTPL.
5) Convertible bonds issued by the subsidiaries
The component parts of compound instruments (i.e., convertible bonds) issued by the subsidiary are
classified separately as financial liabilities and equity in accordance with the substance of the
contractual arrangements and the definitions of a financial liability and an equity instrument.
On initial recognition, the fair value of the liability component is estimated using the prevailing
market interest rate for similar non-convertible instruments. This amount is recorded as a liability
on an amortized cost basis using the effective interest method until extinguished upon conversion or
upon the instrument’s maturity date. Any embedded derivative liability is measured at fair value.
The conversion option classified as equity is determined by deducting the amount of the liability
component from the fair value of the compound instrument as a whole. This is recognized and
included in non-controlling interests, and is not subsequently remeasured. When the conversion
option remains unexercised at maturity, the balance recognized in non-controlling interests will be
transferred to capital surplus - the change of interest in subsidiaries.
Transaction costs that relate to the issuance of the convertible bonds are allocated to the liability and
equity components in proportion to the allocation of the gross proceeds. Transaction costs relating
to the equity component are recognized directly in non-controlling interests. Transaction costs
relating to the liability component are included in the carrying amount of the liability component.
o. Hedge accounting
The Group designates certain hedging instruments, which include derivatives, embedded derivatives
and non-derivatives in respect of foreign currency risk, as either fair value hedges or cash flow hedges
or hedges of net investment in foreign operations.
1) Fair value hedges
Gains or losses on hedging instruments that are designated and qualify as fair value hedges are
recognized in profit or loss immediately, together with any changes in the fair value of the hedged
asset or liability that are attributable to the hedged risk. The change in the fair value of the hedging
instrument and the change in the hedged item attributable to the hedged risk are recognized in profit
or loss in the line item relating to the hedged item.
The Group discontinues hedge accounting only when the hedging relationship ceases to meet the
qualifying criteria; for instance, when the hedging instrument expires or is sold, terminated or
exercised.
- 33 -
2) Cash flow hedges
The effective portion of gains or losses on hedging instruments that are designated and qualify as
cash flow hedges is recognized in other comprehensive income. The gains or losses relating to the
ineffective portion are recognized immediately in profit or loss.
The associated gains or losses that were recognized in other comprehensive income are reclassified
from equity to profit or loss as a reclassification adjustment in the line item relating to the hedged
item in the same period when the hedged item affects profit or loss. If a hedge of a forecasted
transaction subsequently results in the recognition of a non-financial asset or a non-financial
liability, the associated gains and losses that were recognized in other comprehensive income are
removed from equity and included in the initial cost of the non-financial asset or non-financial
liability.
The Group discontinues hedge accounting only when the hedging relationship cease to meet the
qualifying criteria; for instance, when the hedging instrument expires or is sold, terminated, or
exercised. The cumulative gain or loss on the hedging instrument that has been previously
recognized in other comprehensive income from the period when the hedge was effective remains
separately in equity until the forecast transaction occurs. When a forecast transaction is no longer
expected to occur, the gain or loss accumulated in equity is recognized immediately in profit or loss.
3) Hedges of net investments in foreign operations
Hedges of net investments in foreign operations are accounted for similarly to cash flow hedges.
Any gains or losses on the hedging instrument relating to the effective portion of the hedge are
recognized in other comprehensive income and accumulated under the heading of foreign currency
translation reserve. The gains or losses relating to the ineffective portion are recognized
immediately in profit or loss.
The gains and losses on the hedging instrument relating to the effective portion of the hedge, which
were accumulated in the foreign currency translation reserve, are reclassified to profit or loss on the
disposal or partial disposal of a foreign operation.
p. Revenue recognition
The Group identifies the contracts with customers, allocates transaction prices to performance
obligations and, when performance obligations are satisfied, recognizes revenues at fixed amounts as
agreed in the contracts with taking estimated volume discounts into consideration.
For contracts where the period between the date on which the Group transfers a promised good or
service to a customer and the date on which the customer pays for that good or service is one year or
less, the Group does not adjust the promised amount of consideration for the effects of a significant
financing component.
The Group’s duration of contracts with customers is expected to be one year or less, and the
consideration from contracts with customers is included in transaction price and, therefore, can apply
the practical expedient that not to disclose the performance obligations including (i) the aggregate
amount of the transaction price allocated to the performance obligations that are not fully satisfied or
have partially completed at the end of the reporting period, and (ii) the expected timing for recognition
of revenue.
The Group’s operating revenues include revenues from sale of goods and services as well as sale and
leasing of real estate properties.
When customers control goods while they are manufactured in progress, the Group measures the
progress on the basis of costs incurred relative to the total expected costs as there is a direct relationship
- 34 -
between the costs incurred and the progress of satisfying the performance obligations. Revenue and
contract assets are recognized during manufacture and contract assets are reclassified to trade
receivables when the manufacture is completed or when the goods are shipped upon customer’s request.
The Group recognizes revenues and trade receivables when the goods are shipped or when the goods
are delivered to the customer’s specific location because it is the time when the customer has full
discretion over the manner of distribution and price to sell the goods, has the primary responsibility for
sales to future customers and bears the risks of obsolescence.
Revenues from sale of real estate properties are recognized when customers purchase real estate
properties and complete the transfer procedures. Revenues from leasing real estate properties are
recognized during leasing periods on the straight-line basis.
q. Leases
At the inception of a contract, the Group assesses whether the contract is, or contains, a lease.
For a contract that contains a lease component and non-lease components, the Group elects to account
for the lease and non-lease components as a single lease component.
1) The Group as lessor
Leases are classified as finance leases whenever the terms of a lease transfer substantially all the
risks and rewards of ownership to the lessee. All other leases are classified as operating leases.
When the Group subleases a right-of-use asset, the sublease is classified by reference to the right-
of-use asset arising from the head lease, not with reference to the underlying asset. However, if the
head lease is a short-term lease that the Group, as a lessee, has accounted for applying recognition
exemption, the sublease is classified as an operating lease.
Lease payments (less any lease incentives payable) from operating leases are recognized as income
on a straight-line basis over the terms of the relevant leases. Initial direct costs incurred in obtaining
operating leases are added to the carrying amounts of the underlying assets and recognized as
expenses on a straight-line basis over the lease terms.
2) The Group as lessee
The Group recognizes right-of-use assets and lease liabilities for all leases at the commencement
date of a lease, except for short-term leases and low-value asset leases accounted for applying a
recognition exemption where lease payments are recognized as expenses on a straight-line basis
over the lease terms.
Right-of-use assets are initially measured at cost, which comprises the initial measurement of lease
liabilities adjusted for lease payments made on or before the commencement date, plus any initial
direct costs incurred and an estimate of costs needed to restore the underlying assets, and less any
lease incentives received. Right-of-use assets are subsequently measured at cost less accumulated
depreciation and impairment losses and adjusted for any remeasurement of the lease liabilities.
Right-of-use assets are presented on a separate line in the consolidated balance sheets. With respect
to the recognition and measurement of right-of-use assets that meet the definition of investment
properties, refer to the aforementioned accounting policies for investment properties.
Right-of-use assets are depreciated using the straight-line method from the commencement dates to
the earlier of the end of the useful lives of the right-of-use assets or the end of the lease terms.
However, if leases transfer ownership of the underlying assets to the Group by the end of the lease
terms or if the costs of right-of-use assets reflect that the Group will exercise a purchase option, the
Group depreciates the right-of-use assets from the commencement dates to the end of the useful
- 35 -
lives of the underlying assets.
Lease liabilities are initially measured at the present value of the lease payments, which comprise
fixed payments, in-substance fixed payments, variable lease payments which depend on an index or
a rate, residual value guarantees, the exercise price of a purchase option if the Group is reasonably
certain to exercise that option, and payments of penalties for terminating a lease if the lease term
reflects such termination, less any lease incentives receivable. The lease payments are discounted
using the interest rate implicit in a lease, if that rate can be readily determined. If that rate cannot be
readily determined, the Group uses the lessee’s incremental borrowing rate.
Subsequently, lease liabilities are measured at amortized cost using the effective interest method,
with interest expense recognized over the lease terms. When there is a change in a lease term, a
change in the amounts expected to be payable under a residual value guarantee, a change in the
assessment of an option to purchase an underlying asset, or a change in future lease payments
resulting from a change in an index or a rate used to determine those payments, the Group
remeasures the lease liabilities with a corresponding adjustment to the right-of-use assets. However,
if the carrying amount of the right-of-use assets is reduced to zero, any remaining amount of the
remeasurement is recognized in profit or loss. For a lease modification that is not accounted for as a
separate lease, the Group accounts for the remeasurement of the lease liability by (a) decreasing the
carrying amount of the right-of-use asset of lease modifications that decreased the scope of the
lease, and recognizing in profit or loss any gain or loss on the partial or full termination of the lease;
(b) making a corresponding adjustment to the right-of-use asset of all other lease modifications.
Lease liabilities are presented on a separate line in the consolidated balance sheets.
The Group negotiates with the lessor for rent concessions as a direct consequence of the COVID-19
to change the lease payments originally due by June 30, 2022, that results in the revised
consideration for the lease substantially the same as, or less than, the consideration for the lease
immediately preceding the change. There is no substantive change to other terms and conditions.
The Group elects to apply the practical expedient to all of these rent concessions, and therefore,
does not assess whether the rent concessions are lease modifications. Instead, the Group recognizes
the reduction in lease payment in profit or loss as a deduction of expenses of variable lease
payments, in the period in which the events or conditions that trigger the concession occurs, and
makes a corresponding adjustment to the lease liability.
Variable lease payments that do not depend on an index or a rate are recognized as expenses in the
periods in which they are incurred.
r. Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets
are added to the cost of those assets, until such time as the assets are substantially ready for their
intended use or sale.
Investment income earned on the temporary investment of specific borrowings pending their
expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization.
Other than stated above, all other borrowing costs are recognized in profit or loss in the period in which
they are incurred.
s. Government grants
Government grants related to income are not recognized until there is reasonable assurance that the
Group will comply with the conditions attaching to them and that the grants will be received.
Government grants are recognized in other income on a systematic basis over the periods in which the
Group recognizes as expenses the related costs for which the grants are intended to compensate.
- 36 -
Specifically, government grants whose primary condition is that the Group should purchase, construct
or otherwise acquire non-current assets are recognized as deferred revenue in the consolidated financial
statements and transferred to profit or loss on a systematic and rational basis over the useful lives of the
related assets.
Government grants that are receivable as compensation for expenses or losses already incurred or for
the purpose of giving immediate financial support to the Group with no future related costs are
recognized in profit or loss in the period in which they become receivable.
The benefit of a government loan received at a below-market rate of interest is treated as a government
grant measured as the difference between the proceeds received and the fair value of the loan based on
prevailing market interest rates.
t. Employee benefits
1) Short-term employee benefits
Liabilities recognized in respect of short-term employee benefits are measured at the undiscounted
amount of the benefits expected to be paid in exchange for the related services.
2) Retirement benefits
Payments to defined contribution retirement benefit plans are recognized as expenses when
employees have rendered services entitling them to the contributions.
Defined benefit costs (including service cost, net interest and remeasurement) under the defined
benefit retirement benefit plans are determined using the projected unit credit method. Service cost
(including current service cost and past service cost) and net interest on the net defined benefit
liability (asset) are recognized as employee benefits expense in the period they occur.
Remeasurement, comprising actuarial gains and losses and the return on plan assets (excluding
interest), is recognized in other comprehensive income in the period in which they occur.
Remeasurement recognized in other comprehensive income is reflected immediately in retained
earnings and will not be reclassified to profit or loss.
Net defined benefit liability (asset) represents the actual deficit (surplus) in the Group’s defined
benefit plan. Any surplus resulting from this calculation is limited to the present value of any
refunds from the plans or reductions in future contributions to the plans.
u. Share-based payment arrangements
The fair value at the grant date of the employee share options and restricted stocks for employees is
expensed on a straight-line basis over the vesting period, based on the Group’s best estimate of the
number of options or shares that are expected to ultimately vest, with a corresponding increase in
capital surplus - employee share options or non-controlling interests (employee share options issued by
subsidiaries) and other equity - unearned employee benefits or non-controlling interests (restricted
stocks for employees issued by subsidiaries). It is recognized as an expense in full at the grant date if
vesting immediately. The grant date of issued ordinary shares for cash which are reserved for
employees is the date on which the number of shares that the employees purchase is confirmed.
When restricted stocks for employees are issued, other equity - unearned employee benefits is
recognized on the grant date, with a corresponding increase in capital surplus - restricted stocks for
employees.
At each balance sheet date, the Group reviews its estimate of the number of employee share options and
restricted stocks for employees expected to vest. The impact of the revision of the original estimates is
recognized in profit or loss such that the cumulative expense reflects the revised estimate, with a
- 37 -
corresponding adjustment to the capital surplus - employee share options or non-controlling interests
(employee share options issued by subsidiaries) and other equity - unearned employee benefits or non-
controlling interests (restricted stocks for employees issued by subsidiaries).
v. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
1) Current tax
Income tax payable (recoverable) is based on taxable profit (loss) for the year determined according
to the applicable tax laws of each tax jurisdiction. Taxable profit differs from net profit as reported
in profit or loss because it excludes items of income or expense that are taxable or deductible in
other years and it further excludes items that are never taxable or deductible. The Group’s liability
for current tax is calculated using tax rates that have been enacted or substantively enacted by the
end of the reporting period.
Adjustments of prior years’ tax liabilities are added to or deducted from the current year’s tax
provision.
2) Deferred tax
Deferred tax is recognized on temporary differences between the carrying amounts of assets and
liabilities in the consolidated financial statements and the corresponding tax bases used in the
computation of taxable profit. If a temporary difference arises from the initial recognition (other
than in a business combination) of assets and liabilities in a transaction that affects neither the
taxable profit nor the accounting profit, the resulting deferred tax asset or liability is not recognized.
In addition, a deferred tax liability is not recognized on taxable temporary differences arising from
the initial recognition of goodwill.
Deferred tax liabilities are generally recognized for all taxable temporary differences. Deferred tax
assets are generally recognized for all deductible temporary differences, unused loss carryforwards
and unused tax credits for capital expenditure to the extent that it is probable that taxable profits will
be available against which those deductible temporary differences can be utilized.
Deferred tax liabilities are recognized for taxable temporary differences associated with investments
in subsidiaries and associates, except where the Group is able to control the reversal of the
temporary differences and it is probable that the temporary difference will not reverse in the
foreseeable future. Deferred tax assets arising from deductible temporary difference associated with
such investments and interests are only recognized to the extent that it is probable that there will be
sufficient taxable profits against which to utilize the benefits of the temporary differences and they
are expected to reverse in the foreseeable future.
The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part
of the assets to be recovered. A previously unrecognized deferred tax asset is also reviewed at each
balance sheet date and recognized to the extent that it has become probable that future taxable profit
will allow the deferred tax asset to be recovered.
Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the
period in which the liabilities are settled or assets are realized, based on tax rates (and tax laws) that
have been enacted or substantively enacted by the balance sheet date. The measurement of deferred
tax liabilities and assets reflects the tax consequences that would follow from the manner in which
the Group expects, at the balance sheet date, to recover or settle the carrying amount of its assets
and liabilities.
- 38 -
3) Current and deferred tax for the year
Current and deferred tax are recognized in profit or loss, except when they relate to items that are
recognized in other comprehensive income or directly in equity, in which case, the current and
deferred tax are also recognized in other comprehensive income or directly in equity, respectively.
Where current tax or deferred tax arises from the initial accounting for a business combination, the
tax effect is included in the accounting for the business combination.
w. U.S. Dollar Amounts
A translation of the consolidated financial statements into U.S. dollars is included solely for the
convenience of the readers and has been translated from New Taiwan dollar (NT$) at the exchange rate
as set forth in the statistical release by the U.S. Federal Reserve Board of the United States, which was
NT$30.73 to US$1.00 as of December 31, 2022. The translation should not be construed as a
representation that the NT$ amounts have been, could have been, or could in the future be, converted
into U.S. dollars at this or any other rate of exchange.
5. CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION

UNCERTAINTY
In the application of the Group’s accounting policies, management is required to make judgments, estimates
and assumptions on the carrying amounts of assets and liabilities that are not readily apparent from other
sources. The estimates and underlying assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from these estimates.
The Group considers the recent development of the COVID-19 and its economic environment implications
when making its critical accounting estimates on cash flows, growth rates, discount rates, profitabilities, etc.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognized in the year in which the estimates are revised if the revisions affect only that year
or in the year of the revisions and future years if the revisions affect both current and future years.
Impairment of goodwill
Determining whether goodwill is impaired requires an estimation of the value in use of the cash-generating
units to which goodwill has been allocated. The calculation of the value in use requires management to
estimate the future cash flows expected to be generated from the cash-generating units and a suitable
discount rate in order to calculate the present value. Where the actual future cash flows are less than
expected, or change in facts and circumstances results in downward revision of future cash flows or upward
revision of discount rate, a material impairment loss may arise.
6. CASH AND CASH EQUIVALENTS

December 31
2021 2022
NT$ NT$ US$ (Note 4)
Cash on hand $ 5,638 $ 5,989 $ 195

Checking accounts and demand deposits 47,094,687 47,632,415 1,550,030
Cash equivalents (time deposits with original
maturity of less than three months and
repurchase agreements collateralized by bonds) 28,973,020 10,401,990 338,496
$ 76,073,345 $ 58,040,394 $ 1,888,721
- 39 -
7. FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS
December 31
2021 2022
Financial assets
mandatorily classified as at FVTPL
Derivative instruments (non-designated hedges)

Swap contracts $ 85,629 $ 3,205,828 $ 104,323
Forward exchange contracts 23,373 246,710 8,028
Call option and put option of
convertible bonds 8,463 - -
Target redemption forward contracts 500 - -
Non-derivative financial assets
Quoted ordinary shares 2,683,193 2,521,964 82,069
Private-placement funds 1,322,686 1,599,932 52,064
Unquoted preferred shares 583,270 628,156 20,441
Contingent considerations (Note 29) 394,943 438,176 14,259
Open-end mutual funds 334,223 293,385 9,547
5,436,280 8,934,151 290,731
Current 2,933,446 6,825,157 222,101
Non-current $ 2,502,834 $ 2,108,994 $ 68,630
Financial liabilities held for trading
Derivative instruments (non-designated hedges)

Swap contracts $ 360,797 $ 543,547 $ 17,688
Forward exchange contracts 56,863 83,213 2,708
Current $ 417,660 $ 626,760 $ 20,396
a. At each balance sheet date, outstanding swap contracts not accounted for hedge accounting were as
follows:
Notional Amount
Currency Maturity Period (In Thousands)
December 31, 2021
Sell RMB/Buy US$ 2022.01 RMB2,617,518/US$409,000

Sell NT$/Buy US$ 2022.01-2022.12 NT$52,916,127/US$1,903,000
Sell US$/Buy RMB 2022.02 US$54,415/RMB349,800
Sell US$/Buy JPY 2022.01 US$17,671/JPY2,000,000
Sell US$/Buy KRW 2022.01 US$37,500/KRW44,418,750
Sell US$/Buy NT$ 2022.01-2022.04 US$570,130/NT$15,845,090
December 31, 2022
Sell RMB/Buy US$ 2023.01 RMB2,436,980/US$350,000

Sell NT$/Buy US$ 2023.01-2023.12 NT$78,424,577/US$2,690,000
Sell US$/Buy NT$ 2023.01 US$530,320/NT$16,220,105
- 40 -
b. At each balance sheet date, outstanding forward exchange contracts not accounted for hedge accounting
were as follows:
Notional Amount
December 31, 2021
Sell RMB/Buy JPY 2022.01 RMB35,127/JPY630,000

Sell RMB/Buy US$ 2022.01 RMB727,645/US$114,000
Sell NT$/Buy US$ 2022.01-2022.03 NT$3,465,805/US$125,000
Sell US$/Buy RMB 2022.01-2022.06 US$265,000/RMB1,701,695
Sell US$/Buy EUR 2022.01 US$460/EUR407
Sell US$/Buy JPY 2022.01-2022.02 US$94,747/JPY10,789,851
Sell US$/Buy MYR 2022.01-2022.02 US$8,000/MYR33,430
Sell US$/Buy NT$ 2022.01 US$10,000/NT$277,735
Sell US$/Buy SGD 2022.01-2022.02 US$16,900/SGD22,925
December 31, 2022
Sell RMB/Buy JPY 2023.01 RMB42,181/JPY810,000

Sell RMB/Buy NT$ 2023.01-2023.02 RMB7,000/NT$30,722
Sell RMB/Buy US$ 2023.01-2023.02 RMB1,081,934/US$155,418
Sell EUR/Buy JPY 2023.01 EUR697/JPY100,000
Sell NT$/Buy US$ 2023.01-2023.03 NT$4,010,015/US$130,000
Sell US$/Buy RMB 2023.01-2023.03 US$368,500/RMB2,579,155
Sell US$/Buy EUR 2023.01-2023.10 US$14,668/EUR14,640
Sell US$/Buy JPY 2023.01 US$63,743/JPY8,485,493
Sell US$/Buy MYR 2023.01-2023.03 US$25,000/MYR112,639
Sell US$/Buy NT$ 2023.01-2023.03 US$125,410/NT$3,830,145
Sell US$/Buy PLN 2023.01-2023.12 US$12,000/PLN61,129
Sell US$/Buy SGD 2023.01-2023.02 US$16,600/SGD22,783
c. As of each balance sheet date, outstanding target redemption forward contracts not accounted for hedge
accounting were as follows:
Notional Amount
December 31, 2021
Sell EUR/Buy US$ 2022.04-2022.06 EUR2,982/US$3,475
The target redeemable forward contracts held by subsidiaries are weekly settled. If the market exchange
rate is lower than the execution rate at the time of settlement, the contract will be settled at the nominal
amount, whereas if the market exchange rate is higher than the execution rate, the contract will be settled at
a leveraged nominal amount (twice the nominal amount). The contracts last until all the nominal amount of
US$ position is fully settled. However, when the accumulated excess of the execution rates over the market
exchange rates reach the agreed threshold after the weekly settlement, the contracts will be automatically
early terminated.
- 41 -
8. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME
(FVTOCI)
December 31
2021 2022
Investments in equity instruments at FVTOCI $ 943,354 $ 482,559 $ 15,703

Investments in debt instruments at FVTOCI 1,076,458 1,059,712 34,485
$ 2,019,812 $ 1,542,271 $ 50,188
a. Investments in equity instruments at FVTOCI
December 31
2021 2022
Unquoted ordinary shares $ 820,779 $ 419,491 $ 13,651

Quoted ordinary shares 102,124 45,683 1,486
Unquoted preferred shares 11,245 13,883 452
Limited partnership 9,206 3,502 114
$ 943,354 $ 482,559 $ 15,703
b. Investments in debt instruments at FVTOCI
December 31
2021 2022
Unsecured subordinate corporate bonds $ 1,076,458 $ 1,059,712 $ 34,485
The Group purchased 1,000 units of the abovementioned perpetual unsecured subordinate corporate
bonds with par value of NT$1,000 thousand with annual interest rate and effective interest rate at 3.5%
and 3.2%, respectively.
9. CREDIT RISK MANAGEMENT FOR INVESTMENTS IN DEBT INSTRUMENTS
The Group’s investment in unsecured subordinate corporate bonds is rated the equivalent of investment
grade or higher and has low credit risk for impairment assessment.
There was no significant increase in credit risk of such debt instrument since initial recognition leading to
changes in interest rates and terms, and there was also no significant change in bond issuer’s operation
affecting the ability performing debt obligation. Therefore, no expected credit losses existed. The Group
reviews changes in bond yields and other public information periodically and makes an assessment whether
there has been a significant increase in lifetime Expected Credit Loss (“ECL”) since initial recognition.
- 42 -
10. TRADE RECEIVABLES, NET
December 31
2021 2022
At amortized cost
Gross carrying amount $ 109,473,101 $ 109,408,693 $ 3,560,322
Less: Allowance for impairment loss 103,353 164,408 5,350
109,369,478 109,244,285 3,554,972
At FVTOCI 6,092,462 5,402,714 175,812
$ 115,462,210 $ 114,646,999 $ 3,730,784
a. Trade receivables
1) At amortized cost
The Group’s average credit terms granted to the customers were 30 to 90 days. The Group evaluates
the risk and probability of credit loss of trade receivables by reference to the Group’s past
experiences, financial condition of each customer, impact of COVID-19, as well as competitive
advantage and future development of the industry in which the customer operates. The Group then
reviews the recoverable amount of each individual trade receivable at each balance sheet date to
ensure that adequate allowance is made for possible irrecoverable amounts. In this regard,
management believes the Group’s credit risk was significantly reduced.
The Group measures the loss allowance for trade receivables at an amount equal to lifetime ECLs.
The expected credit losses on trade receivables are estimated using a provision matrix by reference
to past default experience of the debtor and an analysis of the debtor’s current financial position,
adjusted for general economic conditions of the industry in which the debtors operate and an
assessment of both the current as well as the forecast direction of economic conditions at each
balance sheet date. As the Group’s historical credit loss experience shows significantly different
loss patterns for different customer segments, the provision matrix for expected credit loss
allowance based on trade receivables due status is further distinguished according to the Group’s
different customer base.
The Group writes off a trade receivable when there is information indicating that the debtor is in
severe financial difficulty and there is no realistic prospect of recovery. For trade receivables that
have been written off, the Group continues to engage in enforcement activity to attempt to recover
the receivables due. Where recoveries are made, these are recognized in profit or loss.
The following table details the loss allowance of trade receivables based on the Group’s provision
matrix.
December 31, 2021

Overdue Overdue Overdue Individually
Not Past Due 1 to 30 days 31 to 90 Days Over 91 Days Impaired Total
NT$ NT$ NT$ NT$ NT$ NT$
Expected credit loss rate 0% 0%-10% 0%-70% 1%-100% 0%-100%
Gross carrying amount $ 105,538,390 $ 3,136,438 $ 609,695 $ 99,118 $ 89,460 $ 109,473,101

Loss allowance (Lifetime ECLs) (18,062 ) (1,811 ) (22,785 ) (46,337 ) (14,358 ) (103,353 )
$ 105,520,328 $ 3,134,627 $ 586,910 $ 52,781 $ 75,102 $ 109,369,748
- 43 -
December 31, 2022
Gross carrying amount $ 102,857,157 $ 4,765,548 $ 1,413,656 $ 294,937 $ 77,395 $ 109,408,693

Loss allowance (Lifetime ECLs) (20,445 ) (1,778) (47,752 ) (70,133) (24,300 ) (164,408 )
$ 102,836,712 $ 4,763,770 $ 1,365,904 $ 224,804 $ 53,095 $ 109,244,285

US$ (Note 4) US$ (Note 4) US$ (Note 4) US$ (Note 4) US$ (Note 4) US$ (Note 4)
Gross carrying amount $ 3,347,125 $ 155,078 $ 46,002 $ 9,598 $ 2,519 $ 3,560,322

Loss allowance (Lifetime ECLs) (665 ) (58 ) (1,554 ) (2,282 ) (791 ) (5,350 )
$ 3,346,460 $ 155,020 $ 44,448 $ 7,316 $ 1,728 $ 3,554,972
The movements of the loss allowance of trade receivables were as follows:
December 31
2020 2021 2022
Balance at January 1 $ 136,497 $ 97,358 $ 103,353 $ 3,363

Remeasurement of loss
allowance (55,742) 17,078 59,490 1,936
Reclassification (6,970) - - -
Acquisition through
business
combinations 32,460 - - -
Amounts written off (3,944) (399) - -
Disposal of subsidiaries - (4,637) - -
Effects of foreign
currency exchange
differences (4,943) (6,047) 1,565 51
Balance at December
31 $ 97,358 $ 103,353 $ 164,408 $ 5,350
2) At FVTOCI
For the trade receivables due from certain customers, the Group decides whether or not to factor
these trade receivables to banks without recourse based on the Group’s demand of working capital.
These trade receivables are classified as at FVTOCI because they are held within a business model
whose objective is achieved by both the collection of contractual cash flows and the selling of
financial assets.
The following table details the loss allowance of trade receivables at FVTOCI based on the Group’s
provision matrix.
- 44 -
December 31, 2021

Expected credit loss rate 0% 0% 0% 0% -
Gross carrying amount $ 5,991,543 $ 9,415 $ 91,493 $ 11 $ - $ 6,092,462

Loss allowance (Lifetime
ECLs) - - - - - -
$ 5,991,543 $ 9,415 $ 91,493 $ 11 $ - $ 6,092,462
December 31, 2022

Gross carrying amount $ 5,291,410 $ 22,221 $ 83,767 $ 5,316 $ - $ 5,402,714

ECLs) - - - - - -
$ 5,291,410 $ 22,221 $ 83,767 $ 5,316 $ - $ 5,402,714

Gross carrying amount $ 172,190 $ 723 $ 2,726 $ 173 $ - $ 175,812

ECLs) - - - - - -
$ 170,190 $ 723 $ 2,726 $ 173 $ - $ 175,812
3) At FVTPL
Some of the Group’s subsidiaries sell all of their trade receivables to banks without recourse. The
sale will result in the derecognition of these trade receivables because the Group’s subsidiaries will
transfer substantially all risks and rewards to banks. These trade receivables are measured at FVTPL
because the objective of those subsidiaries’ business model is neither the collecting of contractual
cash flows nor the collecting of contractual cash flows and the selling of financial assets. As of
December 31, 2022, the trade receivables at FVTPL were all factored to banks without recourse.
b. Transfers of financial assets
The followings were the Group’s outstanding trade receivables transferred but not yet due:
Annual
Receivables Reclassified Advances Advances Interest Rates
Factoring to Other Received- Received- on Advances
Counterparty Proceed Receivables Unused Used Received (%)
December 31, 2021
BNP Paribas EUR 12,115 EUR 12,081 EUR 11,475 EUR 34 0.80
First Commercial Bank NT$ 8,565 NT$ - NT$ - NT$ 8,565 1.95
December 31, 2022
BNP Paribas EUR 23,600 EUR 18,283 EUR 17,103 EUR 5,317 0.80
- 45 -
Pursuant to the factoring agreements, losses from commercial disputes (such as sales returns and
discounts) are borne by the Group, while losses from credit risk are borne by banks. As of December
31, 2021, the Group’s issued promissory notes with aggregate amounts of US$2,000 thousand to
Citibank Taiwan Ltd. for possible commercial disputes. As of the date that the consolidated financial
statements were authorized for issue by the management, the Group did not have a material commercial
dispute and also expected to have no material commercial dispute in the foreseeable future.
11. INVENTORIES
December 31
2021 2022
Finished goods $ 8,454,783 $ 12,628,314 $ 410,944

Work in process 7,950,743 8,821,890 287,078
Raw materials 46,978,647 61,672,903 2,006,928
Supplies 3,339,042 3,344,968 108,850
Raw materials and supplies in transit 1,109,766 869,400 28,292
$ 67,832,981 $ 87,337,475 $ 2,842,092
The cost of inventories recognized as operating costs for the years ended December 31, 2020, 2021 and
2022 were NT$398,068,260 thousand, NT$458,345,579 thousand and NT$534,314,001 thousand
(US$17,387,374 thousand), respectively, which included write-downs of inventories at NT$1,493,793
thousand, NT$647,946 thousand and NT$2,031,485 thousand (US$66,108 thousand), respectively.
12. INVENTORIES RELATED TO REAL ESTATE BUSINESS
December 31
2021 2022
Land and buildings held for sale $ 667,630 $ 678,080 $ 22,066

Construction in progress 2,956,958 3,023,070 98,375
Land held for construction 1,787,526 1,787,526 58,169
$ 5,412,114 $ 5,488,676 $ 178,610
Construction in progress is mainly located on Lidu Road in Kun Shan, China. The capitalized borrowing
costs for the years ended December 31, 2020, 2021 and 2022 are disclosed in Note 25.
As of December 31, 2021 and 2022, inventories related to real estate business of NT$5,412,114 thousand
and NT$5,488,676 thousand (US$178,610 thousand), respectively, are expected to be recovered longer than
twelve months.
Refer to Note 36 for the carrying amount of inventories related to real estate business that had been pledged
by the Group to secure bank borrowings.
- 46 -
13. OTHER FINANCIAL ASSETS
December 31
2021 2022
Guarantee deposits $ 1,007,651 $ 4,606,790 $ 149,912

Pledged time deposits (Note 36) 415,065 447,459 14,561
Time deposits with original maturity over three
months 60,499 63,853 2,078
Others (Note 36) 73,765 60,422 1,966
1,556,980 5,178,524 168,517
Current 140,857 734,465 23,901
Non-current $ 1,416,123 $ 4,444,059 $ 144,616
14. INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD
December 31
2021 2022
Investments in associates $ 16,500,670 $ 14,163,995 $ 460,918

Investments in joint ventures 495,930 515,351 16,770
$ 16,996,600 $ 14,679,346 $ 477,688
a. Investments in associates
1) Investments in associates accounted for using the equity method that was not individually material
consisted of the following:
Operating Carrying Amount as of December 31

Name of Associate Main Business Location 2021 2022
Yann Yuan Investment Engaged in investing activities R.O.C. $ 9,873,978 $ 7,494,541 $ 243,884
Co., Ltd. (“Yann
Yuan”)
ChipMOS Technologies Engaged in the packaging and testing R.O.C. 2,717,250 2,748,810 89,450
Inc. (“ChipMOS”) of semiconductors
M-Universe Investments Investment company Singapore 1,859,542 2,090,663 68,033
Pte. Ltd. (“MU”)
Hung Ching Development Engaged in the development, R.O.C. 1,828,921 1,597,745 51,993
& Construction Co. construction and leasing of real
(“HC”) estate properties
Hung Ching Kwan Co. Engaged in the leasing of real estate R.O.C. 258,757 244,516 7,957
(“HCK”) properties
Chipletz, Inc. Fabless substrate design house U.S.A. 210,937 145,640 4,739
(“CHIPLETZ”)
Questyle Audio Engaged in the research and China - 88,189 2,870
Engineering Co., Ltd. development on technology and
(“QUESTYLE”) sales of electronic products, digital
products, audio equipment and
spare parts, domestic trading;
import and export business
Deca Technologies Inc. Holding company with group engaged U.S.A. 51,434 54,040 1,759
(“DECA”) in the development of wafer level
packaging and interconnect
technology
16,800,819 14,464,144 470,685
Less: Deferred gain on transfer of
land 300,149 300,149 9,767
$ 16,500,670 $ 14,163,995 $ 460,918
- 47 -
2) At each balance sheet date, the total percentages of ownership held by the Group were as follows:
December 31
2021 2022
Yann Yuan 29.45% 27.94%

ChipMOS 10.85% 10.85%
MU 42.23% 42.23%
HC 26.22% 26.22%
HCK 27.31% 27.31%
CHIPLETZ 20.82% 20.82%
DECA 17.85% 17.85%
QUESTYLE - 6.67%
3) In June 2022, the Group’s subsidiary, SPIL, subscribed for additional new shares of Yann Yuan at a
percentage different from its existing ownership percentage, which led to a decrease in the Group’s
percentage of ownership in Yann Yuan to 27.94%.
4) In November 2022, the Group’s subsidiary, USISH, invested RMB20,000 thousand to obtain 6.67%
ownership of QUESTYLE. The Group considered it has significant influence over QUESTYLE
since it involves in making significant decisions by participating in QUESTYLE’s board meeting.
5) At the end of 2022, the Group evaluated the recoverable amount of its investment in CHIPLETZ by
using the value in use. The recoverable amount was lower than the carrying amount and, therefore,
the Group recognized an impairment loss of NT$61,206 thousand (US$1,992 thousand) under the
line item of other gains and losses (Note 25). The value in use of its investment in CHIPLETZ was
the present value of cash flow projections made by CHIPLETZ’s management with a discount rate
of 22.2% at the end of 2022.
6) Fair values (Level 1) of investments in associates with available published price quotation are
summarized as follows:
December 31
2021 2022
ChipMOS $ 3,835,045 $ 2,643,498 $ 86,023

HC $ 2,141,249 $ 1,420,636 $ 46,230
7) Aggregate information of associates that are not individually material

2020 2021 2022
The Group’s share of:

Net income $ 545,833 $ 872,697 $ 1,083,538 $ 35,260
Other comprehensive
income (loss) 2,784,094 3,624,403 (3,082,307) (100,303)
Total comprehensive
income (loss) $ 3,329,927 $ 4,497,100 $ (1,998,769) $ (65,043)
- 48 -
b. Investments in joint ventures
1) Investment in joint ventures that was not individually material and accounted for using the equity
method consisted of the following:
Operating Carrying Amount as of December 31

Name of Joint Venture Main Business Location 2021 2022
SUMA-USI Electronics Co., Engaged in the design and China $ 495,930 $ 488,760 $ 15,905
Ltd. (“SUMA-USI”) production of electronic
products
MUtek Electronics Co., Ltd. Engaged in the production R.O.C. - 26,591 865
(“MUtek”) and wholesale of
electronic products
$ 495,930 $ 515,351 $ 16,770
2) At each balance sheet date, the percentages of ownership held by the Group’s subsidiary were as
follows:
December 31
2021 2022
SUMA-USI 49.00% 49.00%

MUtek - 49.00%
UGTW entered into a joint venture agreement with Merry Electronics Co., Ltd. in July 2020 and
established MUtek with a ownership of 49.00% in July 2022. Based on the joint venture agreement,
both investors jointly lead the relevant operation activities of MUtek, which resulted in that the
investment in MUtek was accounted for using the equity method.
In January 2023, UGKS entered into a shares transfer agreement with Cancon Information Industry
Co., Ltd. to transfer its 49.00% ownership of SUMA-USI based on its business operation strategy.
The transfer price was RMB110,880 thousand. After the completion of shares transfer, the Group
will no longer hold ownership of SUMA-USI.
3) Aggregate information of joint ventures that were not individually material

2020 2021 2022
The Group’s share of:

Net income $ 1,780 $ 27,003 $ 101,839 $ 3,314
Other comprehensive
income 3,881 - - -
Total comprehensive
income $ 5,661 $ 27,003 $ 101,839 $ 3,314
- 49 -
15. PROPERTY, PLANT AND EQUIPMENT
The carrying amounts of each class of property, plant and equipment were as follows:
December 31
2021 2022
Land $ 11,530,540 $ 13,006,893 $ 423,264

Buildings and improvements 79,273,937 91,623,291 2,981,558
Machinery and equipment 128,202,516 142,129,485 4,625,105
Other equipment 3,928,284 3,401,543 110,691
Construction in progress and machinery under
installation 16,932,273 18,073,406 588,136
$ 239,867,550 $ 268,234,618 $ 8,728,754
For the year ended December 31, 2020

Construction in
Progress and
Machinery
Buildings and Machinery and Other under
Land Improvements Equipment Equipment Installation Total
Cost
Balance at January 1, 2020 $ 10,333,822 $ 153,972,960 $ 376,745,448 $ 18,755,116 $ 16,637,561 $ 576,444,907

Additions - 86,409 695,561 47,137 58,195,094 59,024,201
Disposals - (365,758 ) (12,818,849 ) (2,419,423 ) (126,605 ) (15,730,635 )
Disposal of subsidiaries (Note 30) - (3,665,811 ) (3,223,448 ) (445,506 ) (792,543 ) (8,127,308 )
Reclassification - 7,367,875 52,980,977 222,066 (60,032,844 ) 538,074
Acquisitions through business combinations
(Note 29) 167,136 1,680,497 4,445,789 722,490 53,828 7,069,740
Effect of foreign currency exchange differences (42,998 ) (263,672 ) (2,456,999 ) (10,902 ) (81,026 ) (2,855,597 )
Balance at December 31, 2020 $ 10,457,960 $ 158,812,500 $ 416,368,479 $ 16,870,978 $ 13,853,465 $ 616,363,382
Accumulated depreciation and impairment
Balance at January 1, 2020 $ - $ 68,563,380 $ 263,748,778 $ 12,039,422 $ - $ 344,351,580

Depreciation expense - 7,401,223 36,373,712 2,241,613 - 46,016,548
Impairment losses recognized - - 981,535 10,738 - 992,273
Disposals - (300,832 ) (8,306,990 ) (2,398,756 ) - (11,006,578 )
Disposal of subsidiaries (Note 30) - (153,002 ) (345,834 ) (82,059 ) - (580,895 )
Reclassification - 3,462 497,230 (188,844 ) - 311,848
(Note 29) - 548,190 3,049,895 588,935 - 4,187,020
Effect of foreign currency exchange differences - (63,778 ) (2,169,644 ) (40,389 ) - (2,273,811 )
Balance at December 31, 2020 $ - $ 75,998,643 $ 293,828,682 $ 12,170,660 $ - $ 381,997,985

Construction in
Progress and
Machinery
Cost

Additions 1,126,012 2,718,507 1,332,497 135,439 69,105,086 74,417,541
Disposals (2,400 ) (659,833 ) (10,999,274 ) (2,144,766 ) (32,960 ) (13,839,233 )
Disposal of subsidiaries (Note 30) - (12,344,067 ) (33,309,236 ) (1,247,326 ) (1,237,431 ) (48,138,060 )
Reclassification 393 5,038,562 53,856,444 1,181,455 (64,884,288 ) (4,807,434 )
(Continued)
- 50 -
Construction in
Progress and
Machinery

(Note 29) $ - $ 5,284 $ 28,282 $ 3,108 $ 4,852 $ 41,526
Effect of foreign currency exchange differences (51,425 ) (929,254 ) (3,788,594 ) (197,844 ) 123,549 (4,843,568 )

Impairment losses recognized - 15,915 105,815 5,036 - 126,766
Disposals - (565,551 ) (10,151,428 ) (2,065,174 ) - (12,782,153 )
Disposal of subsidiaries (Note 30) - (5,369,867 ) (24,974,206 ) (1,100,858 ) - (31,444,931 )
Reclassification - (3,924,490 ) 142,234 (18,218 ) - (3,800,474 )
(Note 29) - 241 1,067 2,452 - 3,760
Effect of foreign currency exchange differences - (407,690 ) (2,813,158 ) (157,661 ) - (3,378,509 )

(Concluded)

Construction in
Progress and
Machinery
Cost

Additions 1,453,816 302,092 1,514,563 137,208 72,392,895 75,800,574
Disposals (63,446 ) (1,129,046 ) (7,457,317 ) (1,176,897 ) (6,271 ) (9,832,977 )
Reclassification - 19,150,796 51,716,057 560,828 (71,530,690 ) (103,009 )
Effect of foreign currency exchange differences 85,983 1,833,158 4,232,801 232,425 285,199 6,669,566

Impairment losses recognized - 244,719 155,334 5,346 - 405,399
Disposals - (1,081,082 ) (7,114,817 ) (1,138,221 ) - (9,334,120 )
Effect of foreign currency exchange differences - 928,558 2,853,622 169,337 - 3,951,517
Construction in
Progress and
Machinery
Cost
Balance at January 1, 2022 $ 375,221 $ 4,967,188 $ 13,780,950 $ 475,140 $ 551,001 $ 20,149,500

Additions 47,309 9,831 49,286 4,465 2,355,773 2,466,664
Disposals (2,064 ) (36,741) (242,672 ) (38,298 ) (204 ) (319,979 )
Reclassification - 623,195 1,682,917 18,250 (2,327,715 ) (3,353 )
Effect of foreign currency exchange differences 2,798 59,654 137,742 7,563 9,281 217,038
Balance at December 31, 2022 $ 423,264 $ 5,623,127 $ 15,408,223 $ 467,120 $ 588,136 $ 22,509,870
(Continued)
- 51 -
Construction in
Progress and
Machinery
Balance at January 1, 2022 $ - $ 2,387,496 $ 9,609,049 $ 347,308 $ - $ 12,343,853

Depreciation expense - 244,612 1,295,796 52,360 - 1,592,768
Impairment losses recognized - 7,963 5,055 174 - 13,192
Disposals - (35,180 ) (231,527 ) (37,039 ) - (303,746 )
Effect of foreign currency exchange differences - 30,217 92,861 5,510 - 128,588
Balance at December 31, 2022 $ - $ 2,641,569 $ 10,783,118 $ 356,429 $ - $ 13,781,116

(Concluded)
Based on the future operation plans and the capacity evaluation, the Group assessed that a portion of plant ,
equipment and other equipment in the packaging segment, testing segment, and EMS segment were not
qualified for the production needs and, therefore, recognized an impairment loss of NT$992,273 thousand,
NT$126,766 thousand and NT$405,399 thousand (US$13,192 thousand) under the line item of other
operating income and expenses (Note 25) for the years ended December 31, 2020, 2021 and 2022,
respectively. Part of the recoverable amounts were determined by the fair value less cost of disposal, of
which the fair value was based on the recent quoted prices of assets with similar age and obsolescence
provided by vendors in secondary market or the disposal price, and both of which represented Level 3
inputs because the secondary market was not active and the disposal price was negotiated with
counterparties. The recoverable amount of the other portion of the impaired plant and equipment was
determined using value in use and the Group expected to derive zero future cash flows from these assets.
Each class of property, plant and equipment was depreciated on a straight-line basis over the following
useful lives:
Buildings and improvements

Main plant buildings 10-55 years
Cleanrooms 10-20 years
Others 3-24 years
Machinery and equipment 2-15 years
Other equipment 2-25 years
The capitalized borrowing costs for the years ended December 31, 2020, 2021 and 2022 are disclosed in
Note 25.
16. LEASE ARRANGEMENTS
a. Right-of-use assets
December 31
2021 2022
Carrying amounts
Land $ 6,093,518 $ 7,342,703 $ 238,942

Buildings and improvements 3,663,682 3,411,750 111,023
Machinery and equipment 880,443 237,260 7,721
Other equipment 42,619 69,070 2,248
$ 10,680,262 $ 11,060,783 $ 359,934
- 52 -
2020 2021 2022
Additions to right-of-use
assets $ 702,996 $ 3,239,770 $ 2,140,942 $ 69,669
Depreciation charge for

right-of-use assets
Land $ 214,682 $ 217,674 $ 236,673 $ 7,702
Buildings and
improvements 370,458 509,746 660,276 21,486
Machinery and
equipment 335,039 356,052 538,639 17,528
Other equipment 26,701 31,478 32,452 1,056
$ 946,880 $ 1,114,950 $ 1,468,040 $ 47,772
The amounts disclosed above with respect to the right-of-use assets did not include the right-of-use
assets that meet the definition of investment properties.
b. Lease liabilities
December 31
2021 2022
Carrying amounts
Current $ 809,536 $ 979,612 $ 31,878

Non-current $ 6,590,348 $ 6,728,875 $ 218,968
The Group’s lease liabilities were mainly from land and buildings and improvements. The range of
discount rates for lease liabilities was as follows:
December 31
2021 2022
Land (%) 0.54-8.00 0.54-8.00

Buildings and improvements (%) 0.45-8.84 0.45-8.84
c. Material lease-in activities and terms
The Group leases land and buildings for the use of plants and offices with remaining lease terms of 1-52
years and 1-28 years, respectively. For the leasehold land located in the R.O.C., the Group has
extension options at the expiry of the lease periods. However, the government has the right to adjust the
lease payments on the basis of changes in announced land value prices and also has the right to
terminate the lease contract under certain circumstances. The Group does not have bargain purchase
options to acquire the leasehold land and buildings at the expiry of the lease periods. In addition, the
Group is prohibited from subleasing or transferring all or any portion of the underlying assets without
the lessor’s consent.
- 53 -
d. Subleases
In addition to the sublease transactions described in Note 17, the Group did not have other sublease
transactions.
e. Other lease information
December 31
2021 2022
Expenses relating to short-term leases $ 814,235 $ 431,613 $ 14,045

Expenses relating to low-value assets leases $ 5,080 $ 3,242 $ 105
Expenses relating to variable lease payments
not included in the measurement of lease
liabilities $ 61,141 $ 126,584 $ 4,119
Total cash outflow for leases $ 2,909,157 $ 2,494,384 $ 81,171
The Group elected to apply the recognition exemption for qualifying short-term leases and low-value
asset leases and, therefore, did not recognize right-of-use assets and lease liabilities for these leases.
17. INVESTMENT PROPERTIES
Buildings and Right-of-use

Land Improvements Assets Total
NT$ NT$ NT$ NT$
Cost
Balance at January 1, 2020 $ 35,965 $ 7,710,369 $ 6,567,792 $ 14,314,126

Additions - 6,352 - 6,352
Disposals - (1,902) - (1,902)
Reclassification - (3,884) 46,201 42,317
Effects of foreign currency
exchange differences - 111,870 124,920 236,790
Balance at December 31, 2020 $ 35,965 $ 7,822,805 $ 6,738,913 $ 14,597,683
Accumulated depreciation
Balance at January 1, 2020 $ - $ 972,571 $ 487,484 $ 1,460,055

Depreciation expenses - 353,048 209,212 562,260
Disposals - (1,293) - (1,293)
Reclassification - (1,498) 10,617 9,119
Balance at December 31, 2020 $ - $ 1,342,467 $ 717,133 $ 2,059,600
Carrying amount at December

31, 2020 $ 35,965 $ 6,480,338 $ 6,021,780 $ 12,538,083
- 54 -

NT$ NT$ NT$ NT$
Cost

Disposals - (5,350) - (5,350)
Disposal of subsidiaries (Note
30) - (1,290,187) (87,412) (1,377,599)
Reclassification (Note 12) (393) 9,818,133 3,398,139 13,215,879
exchange differences - 30,697 (6,962) 23,735
Balance at January 1, 2021 $ - $ 1,342,467 $ 717,133 $ 2,059,600

Disposals - (3,671) - (3,671)
Disposal of subsidiaries (Note
30) - (570,403) (19,946) (590,349)
Reclassification - 2,014,201 78,914 2,093,115
exchange differences - 6,927 (7,108) (181)
Balance at December 31, 2021 $ - $ 3,272,146 $ 1,037,415 $ 4,309,561

31, 2021 $ 35,572 $ 13,103,952 $ 9,005,263 $ 22,144,787

NT$ NT$ NT$ NT$
Cost

Additions - 114,786 - 114,786
Disposals - (9,770) - (9,770)
Reclassification - 39,158 (10,314) 28,844
(Continued)
- 55 -
NT$ NT$ NT$ NT$
Balance at January 1, 2022 $ - $ 3,272,146 $ 1,037,415 $ 4,309,561

Depreciation expenses - 779,431 327,583 1,107,014
Disposals - (8,354) - (8,354)
Reclassification - (198,631) (12,186) (210,817)
Balance at December 31, 2022 $ - $ 3,868,107 $ 1,371,696 $ 5,239,803

31, 2022 $ 35,572 $ 12,889,336 $ 8,804,184 $ 21,729,092
(Concluded)

US$ (Note 4) US$ (Note 4) US$ (Note 4) US$ (Note 4)
Cost
Balance at January 1, 2022 $ 1,158 $ 532,903 $ 326,804 $ 860,865

Additions - 3,735 - 3,735
Disposals - (318) - (318)
Reclassification - 1,274 (336) 938
7,718 4,670 12,388
exchange differences -
Balance at December 31, 2022 $ 1,158 $ 545,312 $ 331,138 $ 877,608
Balance at January 1, 2022 $ - $ 106,481 $ 33,759 $ 140,240

Disposals - (272) - (272)
Reclassification - (6,464) (397) (6,861)
exchange differences - 765 615 1,380
Balance at December 31, 2022 $ - $ 125,874 $ 44,637 $ 170,511

31, 2022 $ 1,158 $ 419,438 $ 286,501 $ 707,097
Construction in progress located on Hutai Road in Shanghai was completed in 2021 and immediately leased
out for shopping centers business. As a result, the Group reclassified those buildings and land use right
under the line item of “inventories related to real estate - construction in progress” to investment properties
with amount of NT$9,722,579 thousand.
Right-of-use assets included in investment properties were leasehold land located in Shanghai and were
subleased under operating leases.
- 56 -
The abovementioned investment properties were leased out for 1 to 20 years, with an option to extend for
an additional lease term. The lease contracts contain market review clauses in the event that the lessees
exercise their options to extend. The lessees do not have bargain purchase options to acquire the investment
properties at the expiry of the lease term.
In addition to fixed lease payments, some of the lease contracts also indicated that the lessees should make
variable payments determined at a specific percentage of the excess of respective lessee’s monthly revenues
over a specific amount.
The maturity analysis of lease payments receivable under operating leases of investment properties was as
follows:
December 31
2021 2022
Year 1 $ 1,693,659 $ 1,683,010 $ 54,768

Year 2 1,405,450 1,380,058 44,909
Year 3 1,210,891 1,119,779 36,439
Year 4 1,019,498 990,867 32,244
Year 5 929,609 808,851 26,321
Year 6 onwards 3,241,525 2,492,305 81,103
$ 9,500,632 $ 8,474,870 $ 275,784
The investment properties were depreciated on a straight-line basis over the following useful lives:
Main buildings 10-40 years

Right-of-use assets 10-50 years
Because the market conditions were severely affected by COVID-19 in 2020, 2021 and 2022, the Group
agreed to provide unconditional rent concessions for some lease contracts. The rent concessions were
accounted for as adjustments to related income over the remaining lease term. For the years ended
December 31, 2020, 2021 and 2022, total amount from the rent concessions were NT$54,139 thousand,
NT$3,865 thousand and NT$114,538 thousand (US$3,727 thousand), respectively.
The fair value of the investment properties was measured using the market approach and the income
approach based on level 3 inputs by independent professional appraisers. The significant unobservable
inputs were discount rates. The fair value of the investment properties was as follows:
December 31
2021 2022
Fair value $ 36,158,216 $ 36,869,289 $ 1,199,782
Refer to Note 36 for the carrying amount of the investment properties that had been pledged by the Group
to secure borrowings.
- 57 -
18. GOODWILL
Accumulated Carrying
Cost impairment amount
NT$ NT$ NT$
Balance at January 1, 2020 $ 52,612,549 $ 2,414,113 $ 50,198,436

Acquisition through business combinations
(Note 29) 2,567,842 - 2,567,842
Effect of foreign currency exchange differences (57,225) - (57,225)
Balance at December 31, 2020 $ 55,123,166 $ 2,414,113 $ 52,709,053

NT$ NT$ NT$

Disposal of subsidiaries (Note 30) (310,711) - (310,711)
Effect of foreign currency exchange differences (325,929) - (325,929)
NT$ NT$ NT$

Effect of foreign currency exchange differences 240,986 - 240,986
Cost Impairment Amount
US$ (Note 4) US$ (Note 4) US$ (Note 4)
Balance at January 1, 2022 $ 1,773,073 $ 78,559 $ 1,694,514

Effect of foreign currency exchange differences 7,842 - 7,842
Balance at December 31, 2022 $ 1,780,915 $ 78,559 $ 1,702,356
a. Allocating goodwill to cash-generating units
The Group did not monitor goodwill for internal management purpose but for financial reporting
purpose and, therefore, the goodwill was allocated to the following cash-generating units for evaluation
of impairment: packaging segment, testing segment, EMS segment and other segment. The carrying
amounts of goodwill allocated to cash-generating units were as follows:
- 58 -
December 31
2021 2022
Cash-generating units NT$ NT$ US$ (Note 4)
Packaging segment $ 35,412,424 $ 35,427,102 $ 1,152,851

Testing segment 13,304,040 13,414,275 436,521
EMS segment 3,207,848 3,323,920 108,165
Others 148,101 148,101 4,819
$ 52,072,413 $ 52,313,399 $ 1,702,356
b. Impairment assessment
At the end of each year, the Group performs evaluation of goodwill for impairment by reviewing the
recoverable amounts based on value in use which incorporates cash flow projections estimated by
management covering a five-year period. The cash flows beyond that five-year period are extrapolated
using a steady per annum growth rate. In assessing value in use, the estimated future cash flows are
discounted to their present value using annual pre-tax discount rates which were 10.39%-14.71%,
10.27%-15.76% and 8.65%-14.64% as of December 31, 2020, 2021 and 2022, respectively. For the
years ended December 31, 2020, 2021 and 2022, no impairment loss was recognized. The key
assumption used in calculating each segment’s value in use also included the growth rates for operating
revenues, which were based on the forecast for the Group and the industry as well as the Group’s
historical performance.
Management believes that any reasonably possible change in the key assumptions on which the
recoverable amount was based on would not cause the carrying amount of each cash-generating unit to
exceed its recoverable amount.
19. OTHER INTANGIBLE ASSETS
The carrying amounts of each class of other intangible assets were as follows:
December 31
2021 2022
Customer relationships $ 7,990,956 $ 6,974,365 $ 226,956

Computer software 2,779,723 2,310,815 75,197
Patents and acquired specific technology 13,730,404 11,829,167 384,939
Others 62,624 63,361 2,062
$ 24,563,707 $ 21,177,708 $ 689,154
- 59 -
Patents and
Acquired
Customer Computer Specific
Relationships Software Technology Others Total
NT$ NT$ NT$ NT$ NT$
Cost
Balance at January 1,
2020 $ 11,000,001 $ 4,606,878 $ 21,318,696 $ 68,300 $ 36,993,875
Additions - 951,439 171 31,045 982,655
Disposals or derecognition - (55,413) - (14,594) (70,007)
Disposal of subsidiaries
(Note 30) - (38,125) - - (38,125)
Acquisition through
business combinations
(Note 29) 885,565 1,567,508 - 114,269 2,567,342
Effect of foreign currency
exchange differences 4,717 (65,838) 312 (19,160) (79,969)
Balance at December 31,

2020 $ 11,890,283 $ 6,966,449 $ 21,319,179 $ 179,860 $ 40,355,771
Accumulated amortization
2020 $ 1,666,668 $ 2,677,339 $ 3,600,173 $ 25,303 $ 7,969,483
Amortization expense 1,000,000 729,330 1,998,554 5,493 3,733,377
(Note 30) - (10,688) - - (10,688)
Acquisition through
(Note 29) 102,768 843,746 - 79,673 1,026,187
exchange differences 547 (21,806) 239 (950) (21,970)

2020 $ 2,769,983 $ 4,170,576 $ 5,598,966 $ 104,475 $ 12,644,000
Patents and
Acquired
NT$ NT$ NT$ NT$ NT$
Cost
2021 $ 11,890,283 $ 6,966,449 $ 21,319,179 $ 179,860 $ 40,355,771
Additions - 1,193,060 2,000 37,959 1,233,019
Disposals or derecognition (102,637) (150,670) - (71,014) (324,321)
(Continued)
- 60 -
Patents and
Acquired
NT$ NT$ NT$ NT$ NT$
(Note 30) $ - $ (789,998) $ (5,401) $ (6,243) $ (801,642)
Acquisition through
(Note 29) - 622 - - 622
exchange differences (83,041) (167,769) (537) (7,036) (258,383)

2021 $ 11,704,605 $ 7,051,694 $ 21,315,241 $ 133,526 $ 40,205,066
2021 $ 2,769,983 $ 4,170,576 $ 5,598,966 $ 104,475 $ 12,644,000
Disposals or derecognition (102,637) (139,907) - (67,741) (310,285)
(Note 30) - (626,338) (5,288) (3,067) (634,693)
Acquisition through
(Note 29) - 222 - - 222
exchange differences (3,456) (103,772) (482) (4,295) (112,005)

2021 $ 3,713,649 $ 4,271,971 $ 7,584,837 $ 70,902 $ 15,641,359
(Concluded)
Patents and
Acquired
NT$ NT$ NT$ NT$ NT$
Cost
2022 $ 11,704,605 $ 7,051,694 $ 21,315,241 $ 133,526 $ 40,205,066
Additions - 459,954 500 31,414 491,868
exchange differences 31,576 141,903 1,611 4,257 179,347

2022 $ 11,736,181 $ 7,616,109 $ 21,317,352 $ 156,326 $ 40,825,968
(Continued)
- 61 -
Patents and
Acquired
NT$ NT$ NT$ NT$ NT$
and impairment
2022 $ 3,713,649 $ 4,271,971 $ 7,584,837 $ 70,902 $ 15,641,359
Impairment losses
recognized - 715 - - 715
exchange differences 4,315 106,356 1,513 2,932 115,116

2022 $ 4,761,816 $ 5,305,294 $ 9,488,185 $ 92,965 $ 19,648,260
(Concluded)
Patents and
Acquired
US$ (Note 4) US$ (Note 4) US$ (Note 4) US$ (Note 4) US$ (Note 4)
Cost
2022 $ 380,885 $ 229,473 $ 693,630 $ 4,345 $ 1,308,333
Additions - 14,967 16 1,022 16,005
Disposals or derecognition - (1,218) - (419) (1,637)
exchange differences 1,028 4,617 53 139 5,837

2022 $ 381,913 $ 247,839 $ 693,699 $ 5,087 $ 1,328,538
and impairment
2022 $ 120,848 $ 139,017 $ 246,822 $ 2,307 $ 508,994
Amortization expense 33,968 31,165 61,889 901 127,923
Impairment losses
recognized - 23 - - 23
Disposals or derecognition - (1,024) - (278) (1,302)
exchange differences 141 3,461 49 95 3,746

2022 $ 154,957 $ 172,642 $ 308,760 $ 3,025 $ 639,384
- 62 -
Each class of other intangible assets was amortized on the straight-line basis over the following useful lives:
Customer relationships 11-16 years

Computer software 2-10 years
Patents and acquired specific technology 5-17 years
Others 5-10 years
20. BORROWINGS
a. Short-term borrowings
Bank loans mainly represented unsecured revolving loans, letters of credit and bank overdrafts.
December 31
2021 2022
Secured bank loans, annual interest rates were

0.90%-1.87% and 2.73%-3.63% as of
December 31, 2021 and 2022, respectively $ 203,127 $ 772,896 $ 25,151
Unsecured bank loans, annual interest rates
were 0.40%-3.75% and 1.42%-6.50% as of
December 31, 2021 and 2022, respectively 40,833,302 45,958,234 1,495,550
41,036,429 46,731,130 1,520,701
Less: financial liabilities for hedging - current
(Note 34) 6,716,965 12,204,620 397,157
$ 34,319,464 $ 34,526,510 $ 1,123,544
b. Long-term borrowings
1) Bank loans
December 31
2021 2022
Revolving bank loans

Syndicated bank loans - redeemed in
January 2022, annual interest rate
was 1.08% as of December 31, 2021 $ 2,562,926 $ - $ -
Others - repayable through January
2023 to July 2029, annual interest
rates were 0.40%-4.00% and 1.43%-
5.26% as of December 31, 2021 and
2022, respectively 107,383,417 79,657,893 2,592,187
Mortgage loans (Note 36)
Repayable through January 2023 to
December 2033, annual interest rates
were 2.32%-4.55% and 2.85%-4.40%
as of December 31, 2021 and 2022,
respectively 8,031,142 8,333,805 271,194
117,977,485 87,991,698 2,863,381
(Continued)
- 63 -
December 31
2021 2022
Less: unamortized discounts $ 3,642 $ - $ -

117,973,843 87,991,698 2,863,381
Less: current portion 4,526,683 5,041,841 164,069
financial liabilities for hedging -
non-current (Note 34) 4,780,931 - -
$ 108,666,229 $ 82,949,857 $ 2,699,312

(Concluded)
Pursuant to some of the above revolving bank loans agreements, the Group’s subsidiaries should
meet certain financial covenants which are calculated based on each of their annual audited
consolidated financial statements or semi-annual reviewed consolidated financial statements. The
Group’s subsidiaries were in compliance with all of the financial covenants.
2) Long-term bills payable
December 31
2021 2022
Ta Ching Bills Finance Corporation,

repayable through January 2024 to
March 2024, annual interest rates
were 0.65% and 0.85%-0.94% as of
December 31, 2021 and 2022,
respectively $ 2,500,000 $ 3,000,000 $ 97,625
Cathay United Bank,
repayable in April 2024, annual
interest rate was1.49%-1.56% as of
December 31, 2022 - 9,000,000 292,873
China Bills Finance Corporation,
redeemed in December 2022, annual
interest rate was 0.65% as of
December 31, 2021 2,500,000 - -
Mega Bills Finance Corporation,
redeemed in March 2022, annual
December 31, 2021 2,000,000 - -
International Bills Finance Corporation,
redeemed in March 2022, annual
December 31, 2021 1,500,000 - -
8,500,000 12,000,000 390,498
Less: unamortized discounts 1,353 2,247 73
$ 8,498,647 $ 11,997,753 $ 390,425
- 64 -
21. BONDS PAYABLE
December 31
2021 2022
Unsecured domestic bonds

Repayable at maturity in January 2023 and
interest due annually with annual interest
rate at 1.50% $ 2,000,000 $ 2,000,000 $ 65,083
Repayable at maturity in January 2024 and
rate at 1.45% 4,300,000 4,300,000 139,928
Repayable at maturity in April 2024 and
rate at 0.90% 6,500,000 6,500,000 211,520
rate at 1.03% 3,500,000 3,500,000 113,895
rate at 0.90% 10,000,000 10,000,000 325,415
Repayable at maturity in August 2023 and
rate at 0.72% 3,000,000 3,000,000 97,624
rate at 0.85% 5,000,000 5,000,000 162,707
rate at 0.95% 2,000,000 2,000,000 65,083
Redeemed in January 2022 and interest due
annually with annual interest rate at 1.25% 3,700,000 - -
Unsecured overseas bonds
US$200,000 thousand (linked to New Taiwan
dollar), redeemed in September 2022 and
interest due quarterly with annual interest
rate at 2.15% 6,204,800 - -
US$100,000 thousand (linked to New Taiwan
dollar), repayable at maturity in October
2024 and interest due quarterly with annual
interest rate at 2.50% 3,102,400 3,102,400 100,957
Unsecured overseas convertible bonds
RMB779,801 thousand and RMB2,005,324
thousand as of December 31, 2021and 2022,
respectively, at maturity in March 2027 and
rate at 0.10%, 0.20%, 0.60%, 1.30%, 1.80%
and 2.00% for the first, second, third, fourth,
fifth and sixth year, respectively. 3,385,381 8,842,360 287,744
52,692,581 48,244,760 1,569,956
(Continued)
- 65 -
December 31
2021 2022
Less: discounts on bonds payable $ 425,244 $ 394,436 $ 12,835

52,267,337 47,850,324 1,557,121
Less: current portion of bonds payable 9,902,710 4,998,971 162,674
$ 42,364,627 $ 42,851,353 $ 1,394,447

(Concluded)
In March 2021, the subsidiary, USISH, offered an unsecured overseas convertible bonds (the “USISH
Bonds”) in RMB3,450,000 thousand with a par value of RMB100. Within 5 trading days after maturity,
USISH will redeem all the unconverted bonds at a price of 108% of the par value (including the interests of
the last installation).
When the USISH Bonds were offered, the subsidiaries, USIE and ASE (Shanghai) Inc., subscribed for the
USISH Bonds at a total of RMB2,670,199 thousand. Since then, USIE and ASE (Shanghai) Inc. disposed
separately the USISH Bonds totaled to RMB1,197,194 thousand and RMB28,397 thousand in the public
market, respectively. As of December 31, 2022, the par value of the USISH Bonds held by USIE amounted
to RMB1,444,608 thousand. As the aforementioned contractual obligations assumed by USISH and the
contractual rights entitled to USIE and ASE (Shanghai) Inc. were extinguished in economic substance, the
assets and liabilities related to the USISH Bonds subscribed for by USIE and ASE (Shanghai) Inc. were
eliminated upon the consolidation.
Each holder of the USISH Bonds has the right to convert the USISH Bonds into ordinary shares of USISH
at the conversion price at any time from the first trading day after 9 months of the offering date to the
maturity date (the “Conversion Period”). The initial conversion price was RMB20.25 per share at offering
date and the conversion price will be subject to the adjustment in the event of the conversion provisions due
to anti-dilution clause. As of December 31, 2022, the conversion price was RMB19.50 per share. As of
December 31, 2022, the USISH Bonds with a par value totaled to RMB68 thousand were converted into
3,000 ordinary shares of USISH. Within the outstanding period of the USISH Bonds, if the closing price of
USISH’s ordinary shares in Shanghai Stock Exchange is lower than 80% of the current conversion price for
at least 15 trading days out of any 30 consecutive trading days, the board of directors of USISH has the
right to propose a downward revision on conversion price and submit it to USISH’s shareholders’ meeting
for approval.
During the Conversion Period, USISH’s board of directors has the right to redeem all or part of the
unconverted bonds at the price of par value plus accrued interests in either of the following circumstances:
(1) if the closing price of USISH’s ordinary shares in Shanghai Stock Exchange is not less than 130%
(including 130%) of the current conversion price for at least 20 trading days out of any 30 consecutive
trading days, or (2) the unconverted USISH Bonds falls below RMB30,000 thousand.
In the last two interest accrual years before the maturity, the holders of USISH Bonds have the right to sell
back all or part of USISH Bonds to USISH at the price of par value plus accrued interest in either of the
following circumstances: (1) if the closing price of USISH’s ordinary shares in Shanghai Stock Exchange is
lower than 70% of the current conversion price in any 30 consecutive trading days, or (2) if USISH is
deemed to change the use of the funds pursuant to the relevant regulations of the China Securities
Regulatory Commission or USISH is identified by the China Securities Regulatory Commission as
changing the use of funds before the maturity. In addition, after 3 years from the offering date, holders of
USISH Bonds have the right to sell back all or part of USISH Bonds to USISH at 102% of the par value
(including the interests accrued for the 3rd year).
- 66 -
At the offering date, USISH Bonds consisted of debt host contract (recognized under the line item of bonds
payable), conversion right (recognized under the line item of non-controlling interests since it is an equity
component of the bonds offered by the subsidiary), call option and put option (recognized under the line
item of financial liabilities at FVTPL).
22. OTHER PAYABLES
December 31
2021 2022
Payables for property, plant and equipment $ 13,607,664 $ 16,704,590 $ 543,592

Accrued salary and bonus 12,217,011 14,759,907 480,309
Accrued employees’ compensation and
remuneration to directors 7,711,445 10,012,636 325,826
Accrued employee insurance 1,204,387 1,325,330 43,128
Accrued utilities 581,662 847,905 27,592
Others 11,374,731 13,464,732 438,163
$ 46,696,900 $ 57,115,100 $ 1,858,610
23. RETIREMENT BENEFIT PLANS
a. Defined contribution plans
1) The pension plan under the R.O.C. Labor Pension Act (“LPA”) for the Group’s R.O.C. resident
employees is a government-managed defined contribution plan. Based on the LPA, the Company
and its subsidiaries in R.O.C. makes monthly contributions to employees’ individual pension
accounts at 6% of their monthly salaries.
2) The subsidiaries of the Group located in countries other than R.O.C. also make contributions at
various ranges according to relevant local regulations.
b. Defined benefit plans
1) The Company and its subsidiaries in R.O.C. joined the defined benefit pension plan under the
R.O.C. Labor Standards Law operated by the government. Pension benefits are calculated on the
basis of the length of service and average monthly salaries of the last six months before retirement.
The Company and its subsidiaries in R.O.C. make contributions based on a certain percentage of
their domestic employees’ monthly salaries to a pension fund administered by the pension fund
monitoring committee. Before the end of each year, the Company and its subsidiaries in R.O.C.
assess the balance in the pension fund. If the balance in the pension fund is inadequate to pay
retirement benefits for employees who conform to retirement requirements in the next year, the
Company and its subsidiaries in R.O.C. are required to fund the difference in one appropriation that
should be made by the end of March in the next year. Pension contributions are deposited in the
Bank of Taiwan in the committee’s name and are managed by the Bureau of Labor Funds, Ministry
of Labor (“the Bureau”); the Company and its subsidiaries in Taiwan have no right to influence the
investment policy and strategy.
2) Pension plans for certain subsidiaries of the Group stipulate that employees with service years
exceeding agreed years are entitled to receive a lump-sum payment based on their length of service
and the agreed salaries at the time of termination of employment.
- 67 -
3) ASE, SPIL, ASE Test, Inc. and ASEE have pension plans for executive managers. Pension costs
under the plans were NT$11,184 thousand, NT$32,836 thousand and NT$7,735 thousand (US$252
thousand) and the remeasurements under the plans were a gain of NT$279 thousand, a loss of
NT$17,292 thousand, and a loss of NT$3,778 thousand (US$123 thousand) (recognized under the
line item of net defined benefit liabilities) for the years ended December 31, 2020, 2021 and 2022,
respectively. Pension payments were NT$26,144 thousand for the year ended December 31, 2021.
As of December 31, 2021 and 2022, accrued pension liabilities for executive managers were
NT$369,999 thousand and NT381,512 thousand (US$12,415 thousand), respectively.
4) The amounts included in the consolidated balance sheets arising from the Group’s obligation in
respect of its defined benefit plans excluding those for executive managers were as follows:
December 31
2021 2022
Present value of the defined benefit

obligation $ 11,424,860 $ 10,261,997 $ 333,941
Fair value of the plan assets (5,863,264) (6,477,877) (210,800)
Present value of unfunded defined benefit
obligation 5,561,596 3,784,120 123,141
Recorded under other payables (67,524) (88,983) (2,896)
Recorded under other non-current assets - 248,843 8,098
Net defined benefit liabilities $ 5,494,072 $ 3,943,980 $ 128,343
Movements in net defined benefit liabilities were as follows:
Present Value Net Defined

of the Defined Benefit
Benefit Fair Value of the Liabilities
Obligation Plan Assets (Assets)
NT$ NT$ NT$
Balance at January 1, 2020 $ 10,668,574 $ (5,742,178) $ 4,926,396
Service cost
Current service cost 193,693 - 193,693
Past service cost and gain on
settlements (25,891) - (25,891)
Net interest expense (income) 119,314 (81,114) 38,200
Recognized in profit or loss 287,116 (81,114) 206,002
Remeasurement
Return on plan assets (excluding
amounts included in net interest) - (109,616) (109,616)
Actuarial (gain) loss
Changes in financial assumptions 465,433 - 465,433
Experience adjustments 281,661 - 281,661
Changes in demographic
assumptions (36,627) - (36,627)
Recognized in other comprehensive
income 710,467 (109,616) 600,851
(Continued)
- 68 -
NT$ NT$ NT$
Contributions from the employer $ - $ (620,433) $ (620,433)

Benefits paid from
the pension fund (552,430) 603,137 50,707
the Group (14,520) - (14,520)
Assets extinguished on settlement - 11,910 11,910
Business combinations 1,018,480 - 1,018,480
Exchange differences on foreign plans 41,458 (24,011) 17,447
Balance at December 31, 2020 12,159,145 (5,962,305) 6,196,840
Service cost
settlements (10,284) - (10,284)
Remeasurement
Changes in financial assumptions (418,542) - (418,542)
assumptions 160,156 - 160,156
income (15,490) (42,636) (58,126)
Contributions from the employer - (542,584) (542,584)

Benefits paid from
the pension fund (556,419) 562,442 6,023
the Group (80,603) - (80,603)
Business combinations 46,291 - 46,291
Exchange differences on foreign plans (369,588) 181,580 (188,008)
Balance at December 31, 2021 11,424,860 (5,863,264) 5,561,596
Service cost
settlements (100) - (100)
(Continued)
- 69 -
NT$ NT$ NT$
Remeasurement
amounts included in net interest) $ - $ (324,510) $ (324,510)
Changes in financial assumptions (1,053,680) - (1,053,680)
assumptions (507) - (507)
income (836,529) (324,510) (1,161,039)
Contributions from the employer - (736,508) (736,508)

Benefits paid from
the pension fund (571,930) 571,930 -
the Group (115,695) - (115,695)
Assets extinguished on settlement (2,920) - (2,920)
Balance at December 31, 2022 $ 10,261,997 $ (6,477,877) $ 3,784,120

(Concluded)

Balance at January 1, 2022 $ 371,782 $ (190,799) $ 180,983
Service cost
settlements (3) - (3)
Remeasurement
Changes in financial assumptions (34,288) - (34,288)
assumptions (17) - (17)
income (27,222) (10,560) (37,782)
(Continued)
- 70 -
Contributions from the employer $ - $ (23,967) $ (23,967)

Benefits paid from
the pension fund (18,611) 18,611 -
the Group (3,765) - (3,765)
Assets extinguished on settlement (95) - (95)
Balance at December 31, 2022 $ 333,941 $ (210,800) $ 123,141

(Concluded)
5) The fair value of the plan assets by major categories at each balance sheet date was as follows:
December 31
2021 2022
Cash $ 2,267,223 $ 2,351,189 $ 76,511

Equity instruments 2,334,180 2,839,966 92,417
Debt instruments 1,039,412 1,079,917 35,142
Others 222,449 206,805 6,730
Total $ 5,863,264 $ 6,477,877 $ 210,800
6) Through the defined benefit plans under the Labor Standards Law of the R.O.C., the Group in
R.O.C. are exposed to the following risks:
a) Investment risk
The plan assets are invested in equity and debt securities, bank deposits, etc. The investment is
conducted at the discretion of the Bureau or under the mandated management. However, in
accordance with relevant regulations, the return generated by plan assets should not be below
the interest rate for a 2-year time deposit with local banks.
b) Interest risk
A decrease in the government bond interest rate will increase the present value of the defined
benefit obligation; however, this will be partially offset by an increase in the return on the plan’s
debt investments.
c) Salary risk
The present value of the defined benefit obligation is calculated by reference to the future
salaries of plan participants. As such, an increase in the salary of the plan participants will
increase the present value of the defined benefit obligation.
7) The management of ASE Korea is responsible for the administration of the fund and determination
of the investment strategies according to related local regulations. ASE Korea is responsible for the
shortfall between the fund and the defined benefit obligation. The plan assets are investment in the
certificates of deposits.
- 71 -
8) The present value of the defined benefit obligation and the related current service cost and past
service cost were measured using the Projected Unit Credit Method. Except the pension plans for
executive managers, the key assumptions used for the actuarial valuations were as follow:
December 31
2021 2022
Discount rates (%) 0.05-3.31 0.05-5.63

Expected rates of salary increase (%) 1.00-4.02 1.00-3.96
The sensitivity analysis below has been determined based on reasonably possible changes of the
respective assumptions occurring at each balance sheet date, while holding all other assumptions
constant.
December 31
2021 2022
Discount rate
0.5% higher $ (548,265) $ (437,529) $ (14,238)
0.5% lower $ 593,980 $ 472,595 $ 15,379
Expected rates of salary increase
0.5% higher $ 538,689 $ 444,815 $ 14,475
0.5% lower $ (503,700) $ (416,488) $ (13,553)
The sensitivity analysis presented above may not be representative of the actual change in the
defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation
of one another as some of the assumptions may be correlated.
9) Maturity analysis of undiscounted pension benefit
December 31
2021 2022
No later than 1 year $ 561,812 $ 646,243 $ 21,030

Later than 1 year but not later than 5 years 2,593,560 2,760,990 89,847
Later than 5 years 12,600,192 9,930,085 323,140
$ 15,755,564 $ 13,337,318 $ 434,017
The Group expected to make contributions of NT$595,871 thousand and NT$547,179 thousand
(US$17,806 thousand) to the defined benefit plans in the next year starting from January 1, 2022
and 2023, respectively.
As of December 31, 2021 and 2022, the average duration of the defined benefit obligation
excluding those for executive managers of the Group was 9 to 16 years and 6 to 13 years,
respectively.
- 72 -
24. EQUITY
a. Share capital
Ordinary shares
December 31
2021 2022
Numbers of shares authorized (in thousands) 5,500,000 5,500,000
Numbers of shares reserved (in thousands)

Employee share options 400,000 400,000
Number of shares issued and fully paid (in thousands) 4,408,650 4,367,984
December 31
2021 2022
Share capital authorized $ 55,000,000 $ 55,000,000 $ 1,789,782
Share capital reserved

Employee share options $ 4,000,000 $ 4,000,000 $ 130,166
American Depositary Receipts
The Company’s ADS represents 2 ordinary shares of the Company. As of both December 31, 2021 and
2022, 157,164 thousand ADSs were outstanding and represented approximately 314,328 thousand
ordinary shares of the Company.
b. Capital surplus
December 31
2021 2022
May be used to offset a deficit,

distributed as cash dividends,
or transferred to share capital (1)
Issuance of ordinary shares $ 16,049,286 $ 15,072,129 $ 490,470

Merger by share exchange 117,693,658 117,693,658 3,829,927
Difference between consideration and the
carrying amount of the subsidiaries’ net
assets during actual disposal or acquisition 3,240,987 3,240,987 105,467
Exercised employee share options 2,362,951 2,943,447 95,784
Treasury share transactions 816,186 38,404 1,250
Donations from shareholders - 471,894 15,356
Expired share options (Note 28) 645,903 646,447 21,036
140,808,971 140,106,966 4,559,290
(Continued)
- 73 -
December 31
2021 2022
May be used to offset a deficit only
Changes in percentage of ownership interest

in subsidiaries (2) $ 1,451 $ 117,537 $ 3,825
Share of changes in capital surplus of
associates accounted for using the equity
method 10,706 18,329 596
Dividends that the claim period has elapsed
and unclaimed by shareholders 5,183 6,043 197
Exercised disgorgement - 326 10
17,340 142,235 4,628
May not be used for any purpose
Employee share options 1,442,132 1,425,171 46,377

Employee restricted stock awards 1,193,782 778,387 25,330
Others (3) 230,943 154,731 5,035
2,866,857 2,358,289 76,742
$ 143,693,168 $ 142,607,490 $ 4,640,660

(Concluded)
1) Such capital surplus may be used to offset a deficit; in addition, when the Company has no deficit,
such capital surplus may be distributed as cash dividends or transferred to share capital (limited to a
certain percentage of the Company’s capital surplus and once a year).
2) Such capital surplus arises from the effects of changes in ownership interests in subsidiaries
resulting from equity transactions other than actual disposals or acquisitions, or from changes in
capital surplus of subsidiaries accounted for using the equity method.
3) Such capital surplus represents the excess of the carrying amount of related accounts over the par
value due to employee share options exercised and the Company has not completed registration
formalities.
c. Retained earnings and dividend policy
The Articles of Incorporation of the Company (the “Articles”) provides that annual net income shall be
distributed in the following order:
1) Replenishment of deficits;
2) 10.0% as legal reserve;
3) Special reserve appropriated or reversed in accordance with laws or regulations set forth by the
authorities concerned;
4) If annual net income remains, a proposal for the distribution of such amount together with a part or
all of the accumulated undistributed profits from previous years shall be prepared by the board of
directors and submit to the shareholders’ meeting for resolution. However, the distributable
dividends may be paid in cash after a resolution has been adopted by a majority vote at a meeting of
the board of directors attended by two-thirds of the total number of directors; and, in addition, a
- 74 -
report of such distribution shall be submitted to the shareholders’ meeting.
For the policies on the distribution of employees’ compensation and remuneration of directors, refer to
employees’ compensation and remuneration of directors in Note 25(g).
The Company is currently in the mature growth stage. To meet the capital needs for business
development now and in the future and satisfy the shareholders’ demand for cash inflows, the Company
shall use residual dividend policy to distribute dividends, of which the cash dividend is not lower than
30% of the total dividend distribution, with the remainder to be distributed in shares. A distribution plan
is also to be made by the board of directors and submitted for resolution in the shareholders’ meeting.
Appropriation of earnings to legal reserve shall be made until the legal reserve equals the Company’s
share capital. Legal reserve may be used to offset deficits. If the Company has no deficit and the legal
reserve has exceeded 25% of the Company’s share capital, the excess may be transferred to capital or
distributed in cash.
Items referred to under Rule No. 1090150022 issued by the Financial Supervisory Commission R.O.C.
and in the directive titled “Questions and Answers for Special Reserves Appropriated Following
Adoption of IFRSs” should be appropriated to or reversed from a special reserve by the Company.
The appropriation of earnings for 2020 and 2021 were as follows:
Appropriation of Earnings Dividends Per Share

For Year 2020 For Year 2021 For Year 2020 For Year 2021
NT$ NT$ NT$ NT$
(in dollars) (in dollars)
Legal reserve $ 2,398,814 $ 6,282,762

Special reserve (reversed) (1,278,670) 798,025
Cash dividends 18,389,856 30,501,981 $ 4.2 $ 7.0
$ 19,510,000 $ 37,582,768
The proposed appropriations of earnings for 2020 had been resolved in the Company’s annual
shareholders’ meeting in August 2021. The 2021 appropriations of earnings for cash dividends had been
resolved by the Company’s board of directors in March 2022; the other proposed appropriations items
for 2021 had been resolved by the shareholders in the meeting held in June 2022.
d. Others equity items
1) Exchange differences on translating foreign operations

2020 2021 2022
Balance at January 1 $ (10,762,684) $ (11,641,939) $ (15,393,646) $ (500,932)

Recognized for the
year
Exchange differences
arising on
translating
foreign operations (1,173,204) (3,203,730) 9,981,949 324,827
(Continued)
- 75 -
2020 2021 2022
Share from
associates and
joint ventures
accounted for
using the equity
method $ 101,038 $ 21,307 $ (117,691) $ (3,830)
Reclassification
Disposal of
associates and
joint venture
accounted for
using the equity
method 29,971 - - -
Disposal of foreign
operations 162,940 (569,284) - -
Balance at December
31 $ (11,641,939) $ (15,393,646) $ (5,529,388) $ (179,935)
(Concluded)
2) Unrealized gain (loss) on financial assets at FVTOCI

2020 2021 2022
Balance at January 1 $ (203,098) $ 2,027,902 $ 4,190,361 $ 136,361

Unrealized gain (loss)
recognized during
the year
Debt instruments (2,136) 63,722 (16,746) (545)
Equity instruments (405,020) (8,671) (8,360) (272)
Share from
associates and joint
ventures accounted
for using the
equity method 2,655,570 3,599,703 (2,928,173) (95,287)
Other comprehensive
income for the year 2,248,414 3,654,754 (2,953,279) (96,104)
Disposal of associates
and joint ventures
accounted for using
the equity method 1,094 - - -
Cumulative unrealized
loss of equity
instruments
transferred to
retained earnings due
to disposal 16,383 33,258 190,500 6,199
(Continued)
- 76 -
2020 2021 2022
Cumulative unrealized
gain transferred to
retained earnings due
to disposal of equity
instruments in
relation to associates
and joint venture
accounted for using
the equity method $ (34,891) $ (1,525,553) $ (152,077) $ (4,949)
Balance at December
31 $ 2,027,902 $ 4,190,361 $ 1,275,505 $ 41,507
(Concluded)
3) Gain (loss) on hedging instruments – hedges of net investments of foreign operations

2020 2021 2022
Balance at January 1 $ - $ (429,265) $ 121,833 $ 3,965

Recognized during
the year
Foreign currency
risk – loans
denominated in
foreign currency (429,265) 551,098 398,448 12,966
Balance at December
31 $ (429,265) $ 121,833 $ 520,281 $ 16,931
4) Unearned employee compensation
In August 2021, the shareholders’ meeting resolved to issue restricted stock awards to employees.
Refer to Note 28 for the information.

2021 2022
Balance at January 1 $ - $ (1,164,991) $ (37,911)

Issuance of employee restricted stock
awards (1,343,782) - -
Share-based payment expenses 178,791 728,748 23,715
Valuation adjustments - 3,396 111
Balance at December 31 $ (1,164,991) $ (432,847) $ (14,085)
- 77 -
e. Treasury shares
Shares Shares
repurchased for held by
Purpose of Repurchase cancellation subsidiaries Total
(in thousand (in thousand (in thousand
shares) shares) shares)
Balance at January 1, 2021 - 72,941 72,941

Increase during the year 53,067 - 53,067
Balance at December 31, 2021 53,067 72,941 126,008
Increase during the year 1,933 - 1,933
Decrease during the year (55,000) - (55,000)
Balance at December 31, 2022 - 72,941 72,941
In order to maintain the Company’s credit and shareholders’ rights and interests, the Company’s board
of directors resolved in November 2021 to repurchase up to 55,000 thousand of the Company’s
ordinary shares for cancellation at prices between NT$90 to NT$150 per share during November 8,
2021 to January 7, 2022. The Company has repurchased 55,000 thousand shares at an average price of
NT$104.3. In February 2022, the Company’s board of directors resolved that February 25, 2022 was the
record date for capital reduction and completed the cancellation of those repurchased ordinary shares.
In order to align with the Group’s financial strategy to simplify its investment management, ASE Test
and J&R Holding reduced capital in the fourth quarter of 2022 by remitting 44,100 thousand and 23,352
thousand common shares of the Company, respectively, to their shareholder, ASE.
The Company’s shares held by its subsidiaries at each balance sheet date were as follows:
Shares
Held by Carrying Carrying
Subsidiaries Amount Amount Fair Value Fair Value
(in thousand NT$ US$ NT$ US$
shares) (Note 4) (Note 4)
December 31, 2021
ASE Test 44,100 $ 1,380,721 $ 4,696,675

J&R Holding 23,352 381,709 2,486,975
ASE Test, Inc. 5,489 196,677 584,620
72,941 $ 1,959,107 $ 7,768,270
December 31, 2022
ASE 67,452 $ 1,762,430 $ 57,352 $ 6,333,754 $ 206,110

ASE Test, Inc. 5,489 196,677 6,400 515,454 16,774
72,941 $ 1,959,107 $ 63,752 $ 6,849,208 $ 222,884
Fair value (Level 1) of the Company’s shares held by subsidiaries is based on the closing price from an
available published price quotation.
- 78 -
Under the Securities and Exchange Act in the R.O.C., the Company shall neither pledge treasury shares
nor exercise shareholders’ rights on these shares, such as the rights to dividends and voting. The
subsidiaries holding the aforementioned treasury shares are bestowed shareholders’ rights except the
rights to participate in any share issuance for cash and voting.
f. Non-controlling interests

2020 2021 2022
Balance at January 1 $ 13,374,912 $ 15,622,009 $ 14,544,415 $ 473,297

Share of profit for the year 1,681,320 2,099,830 3,116,549 101,418
Other comprehensive income
(loss) for the year
Exchange difference on
translating foreign
operations 178,480 (321,551) 344,780 11,220
Unrealized gain (loss) on
equity instruments at
FVTOCI 1,321 50,679 (44,852) (1,460)
Gain (loss) from hedging (145,559) 187,502 110,781 3,605
Remeasurement on
defined benefit plans (9,075) 1,497 51,582 1,679
Share in other
comprehensive income
from associates
accounted for using the
equity method - 7,902 (35,142) (1,144)
Non-controlling interests
arising from acquisition or
disposal of subsidiaries
(Note 29) 298 - - -
Acquisition of non-
controlling interests in
subsidiaries (Note 31) (116,738) - - -
Issuance of ordinary shares
by subsidiaries (Note 29) 1,711,453 - - -
Subsidiaries’ buy back of
their own outstanding
ordinary shares (Note 31) (2,299,533) (2,748,521) (312,775) (10,178)
Equity component of
convertible bonds issued
by subsidiaries - 393,199 1,092,004 35,535
Non-controlling interest
relating to outstanding
vested employee share
options granted by
subsidiaries 1,591,904 314,398 315,871 10,279
Cash dividends to non-
controlling interests (346,774) (1,062,529) (575,089) (18,715)
Balance at December 31 $ 15,622,009 $ 14,544,415 $ 18,608,124 $ 605,536
- 79 -
25. PROFIT BEFORE INCOME TAX
a. Other operating income and expenses, net

2020 2021 2022
Rental income $ 153,682 $ 175,373 $ 656,745 $ 21,372

Gain on disposal of property,
plant and equipment 460,868 71,770 113,356 3,689
Royalty income - 135,400 638,867 20,790
Impairment loss on non-financial
assets (Notes 15 and 19) (992,273) (126,766) (327,569) (10,660)
Others 880,215 934,052 (67,071) (2,183)
$ 502,492 $ 1,189,829 $ 1,014,328 $ 33,008
b. Other income

2020 2021 2022
Interest income
Bank deposits $ 520,783 $ 529,132 $ 646,407 $ 21,035
Contracts with customers - 13,197 8,340 271
Government subsidies 803,049 767,918 797,612 25,956
Dividends income 150,715 289,852 278,381 9,059
$ 1,474,547 $ 1,600,099 $ 1,730,740 $ 56,321
c. Other gains and losses

2020 2021 2022
Net gain on financial assets

mandatorily at FVTPL $ 3,211,125 $ 1,199,065 $ 10,244,928 $ 333,385
Net loss arising on financial
instruments held for trading (3,282,973) (2,689,070) (6,137,183) (199,713)
Gain on disposal of subsidiaries
(Note 30) 802,753 17,340,418 - -
Foreign exchange gains (losses),
net 1,005,374 1,395,054 (2,459,474) (80,035)
Gain recognized in bargain
purchase transaction (Note 29) - 33,114 - -
Impairment loss on investments
accounted for using the equity
method (Note 14) - - (61,206) (1,992)
Gain (loss) on disposal of
investments accounted for
using the equity method 91,297 (67,482) 80,317 2,614
$ 1,827,576 $ 17,211,099 $ 1,667,382 $ 54,259
- 80 -
d. Finance costs

2020 2021 2022
Interest on lease liabilities $ 88,026 $ 105,159 $ 134,871 $ 4,389

Interest on borrowings and
bonds payable 3,498,999 2,790,368 3,912,526 127,319
Total interest expense for
financial liabilities measured at
amortized cost 3,587,025 2,895,527 4,047,397 131,708
Less: Amounts included in the
cost of qualifying assets
Inventories related to real
estate business (95,589) (71,011) - -
Property, plant and
equipment (54,208) (25,581) (58,263) (1,896)
3,437,228 2,798,935 3,989,134 129,812
Other finance costs 22,283 32,372 20,648 672
$ 3,459,511 $ 2,831,307 $ 4,009,782 $ 130,484
Information relating to the capitalized borrowing costs was as follows:

2020 2021 2022
Annual interest capitalization rates

Inventories related to real estate business (%) 4.20-4.75 4.20-4.35 -
Property, plant and equipment (%) 0.49-3.47 0.48-1.08 0.59-4.22
e. Depreciation and amortization

2020 2021 2022
Property, plant and equipment $ 46,016,548 $ 48,604,160 $ 48,945,756 $ 1,592,768

Right-of-use assets 946,880 1,114,950 1,468,040 47,772
Investment properties 562,260 751,047 1,107,014 36,024
Other intangible assets 3,733,377 4,054,120 3,931,079 127,923
Total $ 51,259,065 $ 54,524,277 $ 55,451,889 $ 1,804,487
Summary of depreciation by
function
Operating costs $ 44,017,839 $ 46,880,267 $ 47,894,701 $ 1,558,565
Operating expenses 3,507,849 3,589,890 3,626,109 117,999
$ 47,525,688 $ 50,470,157 $ 51,520,810 $ 1,676,564

(Continued)
- 81 -
2020 2021 2022
Summary of amortization by
function
Operating costs $ 2,231,060 $ 2,443,870 $ 2,465,837 $ 80,242
Operating expenses 1,502,317 1,610,250 1,465,242 47,681
$ 3,733,377 $ 4,054,120 $ 3,931,079 $ 127,923

(Concluded)
Operating expenses directly related to investment properties

2020 2021 2022
Direct operating expenses of

investment properties that
generated rental income $ 1,121,854 $ 1,422,463 $ 1,616,197 $ 52,593
f. Employee benefits expense

2020 2021 2022
Post-employment benefits
Defined contribution plans $ 2,979,167 $ 3,489,642 $ 3,590,439 $ 116,838
Defined benefit plans 217,186 214,599 188,141 6,123
3,196,353 3,704,241 3,778,580 122,961
Equity-settled share-based
payments 955,575 699,211 989,843 32,211
Other employee benefits 76,648,412 90,412,118 98,404,937 3,202,243
$ 80,800,340 $ 94,815,570 $ 103,173,360 $ 3,357,415
Summary of employee benefits

expense by function
Operating costs $ 52,526,164 $ 61,555,563 $ 65,063,705 $ 2,117,270
Operating expenses 28,274,176 33,260,007 38,109,655 1,240,145
$ 80,800,340 $ 94,815,570 $ 103,173,360 $ 3,357,415
g. Employees’ compensation and the remuneration to directors
The Articles stipulates to distribute employees’ compensation and remuneration to directors at the rates
of 0.01%-1.00% and no higher than 0.75%, respectively, of net profit before income tax, employees’
compensation and remuneration to directors.
- 82 -
2021 2022
Accrual Accrual Accrual
Rate (%) Amount Rate (%) Accrual Amount
Employees’ compensation 0.19 $ 121,935 0.25 $ 155,398 $ 5,057

Remuneration to directors 0.30 195,095 0.40 248,637 8,091
If there is a change in the proposed amounts after the consolidated financial statement authorized for
issue, the differences are recorded as a change in accounting estimate and will be adjusted in the
following year.
In March 2021 and 2022, the board of directors resolved the appropriations of employees’
compensation and remuneration to directors in cash for 2020 and 2021, respectively. The differences
between the resolved amounts and the accrued amounts reflected in the annual consolidated financial
statements for the years ended December 31, 2020 and 2021 were deemed changes in estimates. The
differences were NT$818 thousand and NT$1,030 thousand (US$34 thousand) and were adjusted in net
profit for each of the years ended December 31, 2021 and 2022, respectively.
For Year 2020 For Year 2021

Employees’ Remuneration Employees’ Remuneration
compensation to directors compensation to directors
NT$ NT$ NT$ NT$
Resolved by the board of

directors $ 54,909 $ 109,000 $ 122,000 $ 194,000
Recognized in the consolidated
financial statements $ 54,909 $ 109,818 $ 121,935 $ 195,095
Information on the employees’ compensation and the remuneration to directors resolved by the board of
directors is available at the Market Observation Post System website of the Taiwan Stock Exchange
(the “TWSE”).
26. INCOME TAX
The Company and its subsidiaries, ASE, SPIL and USIINC, have filed a consolidated tax return for
corporate income tax and for unappropriated earnings.
a. Income tax recognized in profit or loss
The major components of income tax were as follows:

2020 2021 2022
Current income tax

In respect of the current year $ 6,807,882 $ 14,533,570 $ 16,251,844 $ 528,859
Income tax on unappropriated
earnings 680,649 3,684,138 844,855 27,493
Changes in estimate for prior
years (472,512) (129,152) (211,631) (6,887)
7,016,019 18,088,556 16,885,068 549,465
(Continued)
- 83 -
2020 2021 2022
Deferred income tax

In respect of the current year $ 212,338 $ (95,906) $ 185,726 $ 6,044
Changes in tax rates - 18,337 (4,425) (144)
Changes in estimate for prior
years (103,021) 16,625 2,481 81
exchange differences (8,438) (83,840) 76,684 2,495
100,879 (144,784) 260,466 8,476
Income tax expense recognized

in profit or loss $ 7,116,898 $ 17,943,772 $ 17,145,534 $ 557,941
(Concluded)
A reconciliation of income tax expense calculated at the statutory rates and income tax expense
recognized in profit or loss was as follows:

2020 2021 2022
Profit before income tax $ 35,768,798 $ 80,193,769 $ 81,763,628 $ 2,660,711
Income tax expense calculated at

the statutory rates $ 16,907,904 $ 33,697,736 $ 35,906,719 $ 1,168,458
Nontaxable expense (income) in
determining taxable income 316,619 357,936 (177,734) (5,784)
Tax-exempt income (387,212) (14,578,355) (14,789,999) (481,289)
Additional income tax on
unappropriated earnings 680,649 3,684,138 844,855 27,493
Income tax credits (1,191,387) (1,654,821) (2,514,002) (81,809)
The origination and reversal of
temporary differences (6,033,652) 78,544 1,304,931 42,465
Income tax adjustments on prior
years (472,512) (112,527) (209,150) (6,806)
Unrecognized deferred tax liability
for temporary differences
associated with investments (2,616,917) (6,135,120) (3,523,716) (114,667)
Unrecognized loss carryforwards - 288,025 271,730 8,843
Realized investment loss on
merger of subsidiary (138,890) - - -
Withholding tax 52,296 87,175 31,900 1,038
Land value increment tax - 117,341 - -
Capital gains tax - 2,113,700 - -
Income tax expense recognized in

profit or loss $ 7,116,898 $ 17,943,772 $ 17,145,534 $ 557,941
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b. Income tax recognized directly in equity

2020 2021 2022
Deferred income tax

Related to employee share
options $ (1,159) $ (9) $ - $ -
c. Income tax recognized in other comprehensive income

2020 2021 2022
Deferred income tax

Related to remeasurement of
defined benefit plans $ 114,559 $ (19,319) $ (208,482) $ (6,784)
Unrealized loss on equity
instruments at fair
value through other
comprehensive income (237,460) (160,084) 370,091 12,043
Income tax recognized in other

comprehensive income $ (122,901) $ (179,403) $ 161,609 $ 5,259
d. Current tax assets and liabilities
December 31
2021 2022
Current tax assets

Tax refund receivable $ 207,272 $ 623,470 $ 20,289
Prepaid income tax 334,908 125,049 4,069
$ 542,180 $ 748,519 $ 24,358
Current tax liabilities

Income tax payable $ 16,362,350 $ 18,360,792 $ 597,488
e. Deferred tax assets and liabilities
The Group offset certain deferred tax assets and deferred tax liabilities which met the offset criteria.
The movements of deferred tax assets and deferred tax liabilities were as follows:
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Recognized Acquisitions
in Other through
Balance at Recognized in Comprehensive Recognized Exchange Business Disposal of Balance at
January 1 Profit or Loss Income in Equity Differences Combinations Subsidiaries December 31
NT$ NT$ NT$ NT$ NT$ NT$ NT$ NT$
Deferred tax assets
Temporary differences
Property, plant and
equipment $ 544,844 $ 4,632 $ - $ - $ 12,435 $ 81,773 $ (13,982 ) $ 629,702
Defined benefit
obligation 1,078,583 (36,633 ) 114,559 - 1,005 212,941 - 1,370,455
FVTPL financial
instruments 259,507 (138,045 ) - - (7 ) 2,085 (11,281 ) 112,259
Others 1,744,949 679,197 - (999 ) (45,169 ) 150,291 (120,359 ) 2,407,910
3,627,883 509,151 114,559 (999 ) (31,736 ) 447,090 (145,622 ) 4,520,326
Loss carry-forward 542,781 (44,651 ) - - (915 ) 183,045 (152,594 ) 527,666
Investment credits 537,040 (86,100 ) - - (21,559 ) - - 429,381
$ 4,707,704 $ 378,400 $ 114,559 $ (999 ) $ (54,210 ) $ 630,135 $ (298,216 ) $ 5,477,373
Deferred tax liabilities
Property, plant and
equipment $ 5,206,617 $ 427,465 $ - $ - $ (29,248 ) $ 375,553 $ - $5,980,387
FVTPL financial
instruments 9,192 (2,942 ) - - 67 - - 6,317
Others 556,428 54,755 237,460 160 (1,060 ) 287,375 (795 ) 1,134,323
$ 5,772,237 $ 479,278 $ 237,460 $ 160 $ (30,241 ) $ 662,928 $ (795 ) $ 7,121,027

Recognized
in Other
Balance at Recognized in Comprehensive Recognized Exchange Disposal of Balance at
January 1 Profit or Loss Income in Equity Differences Subsidiaries December 31
NT$ NT$ NT$ NT$ NT$ NT$ NT$
Deferred tax assets
Property, plant and equipment $ 629,702 $ (186,443 ) $ - $ - $ (7,178 ) $ (345,104 ) $ 90,977
Defined benefit obligation 1,370,455 (115,707 ) (19,319 ) - (47,276 ) - 1,188,153
FVTPL financial instruments 112,259 77,593 - - (502 ) - 189,350
Others 2,407,910 679,492 - (7 ) 52,399 (269,080 ) 2,870,714
4,520,326 454,935 (19,319 ) (7 ) (2,557 ) (614,184 ) 4,339,194
Loss carry-forward 527,666 187,981 - - (31,077 ) (45,788 ) 638,782
Investment credits 429,381 (15,549 ) - - (22,798 ) - 391,034
$ 5,477,373 $ 627,367 $ (19,319 ) $ (7 ) $ (56,432 ) $ (659,972 ) $ 5,369,010
Property, plant and equipment $ 5,980,387 $ 165,628 $ - $ - $ (42,437 ) $ (186,834 ) $ 5,916,744
FVTPL financial instruments 6,317 6,274 - - (11 ) - 12,580
Others 1,134,323 310,681 160,084 2 69,848 (14,065 ) 1,660,873
$ 7,121,027 $ 482,583 $ 160,084 $ 2 $ 27,400 $ (200,899 ) $ 7,590,197

Recognized
in Other
Balance at Recognized in Comprehensive Exchange Balance at
January 1 Profit or Loss Income Differences December 31
NT$ NT$ NT$ NT$ NT$
Deferred tax assets
Property, plant and equipment $ 90,977 $ 40,498 $ - $ 16,953 $ 148,428
Defined benefit obligation 1,188,153 (123,878 ) (208,482 ) 6,641 862,434
FVTPL financial instruments 189,350 18,192 - 252 207,794
Others 2,870,714 718,909 - 179,881 3,769,504
4,339,194 653,721 (208,482 ) 203,727 4,988,160
(Continued)
- 86 -
Recognized
in Other
NT$ NT$ NT$ NT$ NT$
Loss carry-forward $ 638,782 $ (166,121 ) $ - $ 22,824 $ 495,485

Investment credits 391,034 452,656 - 14,437 858,127
$ 5,369,010 $ 940,256 $ (208,482 ) $ 240,988 $ 6,341,772
Property, plant and equipment $ 5,916,744 $ 63,813 $ - $ 57,701 $ 6,038,258
FVTPL financial instruments 12,580 519,142 - 89 531,811
Others 1,660,873 617,767 (370,091 ) 106,514 2,015,063
$ 7,590,197 $ 1,200,722 $ (370,091 ) $ 164,304 $ 8,585,132

(Concluded)
Recognized
in Other
Deferred tax assets
Property, plant and equipment $ 2,960 $ 1,318 $ - $ 552 $ 4,830
Defined benefit obligation 38,664 (4,031 ) (6,784 ) 216 28,065
FVTPL financial instruments 6,162 592 - 8 6,762
Others 93,417 23,394 - 5,854 122,665
141,203 21,273 (6,784 ) 6,630 162,322
Loss carry-forward 20,787 (5,406 ) - 743 16,124
Investment credits 12,725 14,730 - 470 27,925
$ 174,715 $ 30,597 $ (6,784 ) $ 7,843 $ 206,371
Property, plant and equipment $ 192,540 2,076 $ - $ 1,878 $ 196,494
FVTPL financial instruments 409 16,894 - 3 17,306
Others 54,047 20,103 (12,043 ) 3,466 65,573
$ 246,996 $ 39,073 $ (12,043 ) $ 5,347 $ 279,373
f. Items for which no deferred tax assets have been recognized for loss carry-forward, investment credits
and deductible temporary differences
December 31
2021 2022
Loss carry-forward $ 1,340,849 $ 1,549,286 $ 50,416

Investment credits 44,244 94,932 3,089
Deductible temporary differences 241,249 273,290 8,893
$ 1,626,342 $ 1,917,508 $ 62,398
The unrecognized loss carry-forward will expire through 2030.
- 87 -
g. Information about unused loss carry-forward, investment credits, tax-exemption and other tax relief
As of December 31, 2022, the unused loss carry-forward comprised:
Expiry Year NT$ US$

(Note 4)
2023 $ 195,332 $ 6,356

2024 172,926 5,627
2025 182,921 5,953
2026 279,553 9,097
2027 and thereafter 1,214,039 39,507
$ 2,044,771 $ 66,540
As of December 31, 2022, unused investment credits comprised:
Tax Credit Source Remaining Creditable Amount Expiry Year

NT$ US$
(Note 4)
Purchase of machinery and equipment $ 841,658 $ 27,389 2023 and thereafter

Others 111,401 3,625 2024 and thereafter
$ 953,059 $ 31,014
Some China subsidiaries qualified as high technology enterprises were entitled to a reduced income tax
rate of 15% and were eligible to deduct certain times of research and development expenses from their
taxable income.
h. Unrecognized deferred tax liabilities associated with investments
As of December 31, 2021 and 2022, the taxable temporary differences associated with the investments
in subsidiaries for which no deferred tax liabilities have been recognized were NT$39,480,927 thousand
and NT$48,035,856 thousand (US$1,563,158 thousand), respectively.
i. Income tax assessments
The tax authorities have examined income tax returns of the Company and its R.O.C. subsidiaries
through 2019 and 2020.
27. EARNINGS PER SHARE
The earnings and weighted average number of ordinary shares outstanding in the computation of earnings
per share were as follows:
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Net profit for the year

2020 2021 2022
Profit for the year attributable to

owners of the Company $ 26,970,580 $ 60,150,167 $ 61,501,545 $ 2,001,352
Effect of potentially dilutive
ordinary shares:
Potential ordinary shares of the
subsidiary (521,073) (1,056,778) (1,811,449) (58,947)
Earnings used in the computation

of diluted earnings per share $ 26,449,507 $ 59,093,389 $ 59,690,096 $ 1,942,405
Weighted average number of ordinary shares outstanding (in thousand shares)

2020 2021 2022
Weighted average number of ordinary shares in

the computation of basic earnings per share 4,265,732 4,305,348 4,274,687
Effect of potentially dilutive ordinary shares
Employee share options 22,086 58,113 40,351
Employees’ compensation 815 1,264 1,940
Employee restricted stock awards - 943 6,445
Weighted average number of ordinary shares in

the computation of diluted earnings per share 4,288,633 4,365,668 4,323,423
For the computation of earnings per ADS, the denominators were the half of the aforementioned weighted
average outstanding shares (1 ADS represents 2 ordinary shares) while the numerators held constant.
The Group is able to settle the employees’ compensation by cash or shares. The Group assumed that the
entire amount of the compensation would be settled in shares and the resulting potential shares were
included in the weighted average number of ordinary shares outstanding used in the computation of diluted
earnings per share if the effect is dilutive. Such dilutive effect of the potential shares was included in the
computation of diluted earnings per share until the board of directors approve the number of shares to be
distributed to employees at their meeting in the following year.
28. SHARE-BASED PAYMENT ARRANGEMENTS
a. Employee share option plans of the Company
In order to attract, retain and reward employees, the Company and its subsidiary, ASE, have their
employee share option plans for the Group’s full-time employees. As disclosed in Note 1, the Company
assumed ASE’s obligations of outstanding employee share option plans starting from April 30, 2018
and each share option represents the right to purchase 0.5 ordinary share of the Company when
exercised. The right of those share options granted under the plan is valid for 10 years, non-transferable
and exercisable at certain percentages subsequent to the second anniversary of the grant date. For any
subsequent changes in the Company’s capital structure or when cash dividend per ordinary share
exceeds 1.5% of the market price per ordinary share, the exercise price is accordingly adjusted.
Information about the share option plans that the Company granted and assumed were as follows:
- 89 -
2020 2021 2022
Weighted Weighted Weighted
Average Average Average
Number of Exercise Number of Exercise Number of Exercise
Options Price Options Price Options Price
(In Per Share (In Per Share (In Per Share
Thousands) (NT$) Thousands) (NT$) Thousands) (NT$)
Balance at January 1 170,786 $ 57.0 144,767 $ 56.9 96,802 $ 53.3

Options expired (1,006) 40.8 - - - -
Options forfeited (3,949) 58.0 (5,907) 52.3 (1,206) 51.1
Options exercised (21,064) 49.2 (42,058) 61.4 (14,334) 51.5
Balance at December 31 144,767 56.9 96,802 53.3 81,262 50.2
Options exercisable, end of year 67,388 61.4 49,696 55.5 58,216 51.3
The weighted average share prices at exercise dates of share options for the years ended December 31,
2020, 2021 and 2022 were NT$68.5, NT$108.8 and NT$92.4 (US$3.0), respectively.
Information about the outstanding share options that the Company granted and assumed at each balance
sheet date was as follows:
Weighted
Range of Average
Exercise Price Remaining
Per Share Contractual
(NT$) Life (Years)
December 31, 2021
ASE 5th share options $ 73.0 3.7

The Company 1st share options 51.0 6.9
December 31, 2022
ASE 5th share options 73.0 2.7

The Company 1st share options 47.5 5.9
The Company’s board of directors resolved in February 2023 to issue the Company’s second share
options plan and granted 150,000 thousand share units. Each unit represents the right to purchase one
newly issued ordinary share of the Company when exercised, which amounted to 150,000 thousand
shares.
b. Employee restricted stock awards plan of the Company
To attract and retain talents as well as motivate and engage employees, the Company’s annual
shareholders’ meetings resolved the 2021 employee restricted stock awards plan in August 2021 and
granted 15,000 thousand ordinary shares on the record date of October 1, 2021. The par value and the
exercise price was NT$10 and NT$0 per share, respectively. The fair value at the grant day was
NT$92.4 per share.
The vested shares are settled and released on an annual basis during a three-year period starting from
October 1, 2021. Up to one-thirds of the total shares granted will be vested only after the Company
reaching specific performance targets before the end of each year-period. Except for inheritance, those
shares shall not be sold, pledged, transferred, gifted, conditioned, or otherwise dispose of before vest,
while the rights of attending, proposing, speaking, voting and election at shareholders meeting and other
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rights, including but not limited to, stock dividend, cash dividend, distribution from legal reserve and
capital surplus, share options at cash capital increase are identical with the Company’s ordinary shares
issued and outstanding. All the shares under this plan should be deposited in a trust account before vest.
After the grant date, the Company has the right to revoke and cancel those unvested shares. The
dividends (including cash dividends, stock dividends, and the cash or the shares distributed from legal
reserve or capital surplus) entitled to those unvested shares and interests derived therefrom shall be
returned to the Company from the trust account at the same time.
Information about employee restricted stock was as follows:

2021 2022
(in thousand (in thousand
shares) shares)
Balance at January 1 - 15,000

Stocks granted 15,000 -
Stocks unrestricted - (5,000)
Balance at December 31 15,000 10,000
c. Employee share option plans of subsidiaries
USIE
The terms of the plans issued by USIE were the same with those option plans previously granted by
ASE. Information about share options was as follows:
For the Year Ended

December 31, 2020
Weighted
Number Average
of Options Exercise Price
(In Per Share
Thousands) (US$)
Balance at January 1 8,349 $ 2.3

Options forfeited (7) 2.9
Options exercised (8,342) 2.3
Balance at December 31 - -
Options exercisable, end of year - -
In 2020, the Group’s shareholdings in USIE decreased because USIE’s share options were exercised.
The transaction was accounted for as an equity transaction since the Group did not cease to have control
over USIE and, as a result, capital surplus and retained earnings was decreased by NT$1,120,111
thousand and NT$392,447 thousand, respectively, in 2020. In addition, all of USIE’s share options were
fully exercised as of December 31, 2020.
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USISH
Under the share option plan issued in 2015 (“2015 share options”), each unit represents the right to
purchase one ordinary share of USISH when exercised. The options are valid for 10 years, non-
transferable and exercisable at certain percentages subsequent to the second anniversary of the grant
date incorporated with certain performance conditions. For any subsequent changes in USISH’s capital
structure, the exercise price is accordingly adjusted.
In November 2019, USISH adopted the first share option plan (“2019 share options”) and granted
17,167 thousand share options to its employees. Each unit represents the right to purchase one ordinary
share of USISH when exercised. The options are valid for 3.0 years, 4.0 years and 5.0 years,
respectively, and are exercisable at certain percentages within 12 months subsequent to the second, the
third and the fourth anniversary of the grant date under the satisfaction of certain performance
conditions within each respective vesting period. In the event that USISH increases share capital by
capital surplus or by cash, or distributes share dividends or cash dividends, the exercisable share option
units and the exercise price are accordingly adjusted.
In September 2020, USISH adopted the second share option plan (“2020 share options”) and granted
1,140 thousand share options to its employees. The conditions of issued 2020 share options are the
same as 2019 share options plan, except that the options are valid for 2.2 years, 3.2 years and 4.2 years,
respectively, and with each respective vesting period of 1.2 years, 2.2 years and 3.2 years.
Information about share options was as follows:

2020 2021 2022
Thousands) (RMB) Thousands) (RMB) Thousands) (RMB)
Balance at January 1 35,077 $ 14.5 31,266 $ 14.6 29,486 $ 14.2

Options granted 1,140 21.7 - - - -
Options expired - - - - (2,312) 13.9
Options forfeited (636) 14.0 (952) 14.5 (942) 13.0
Options exercised (4,315) 15.5 (828) 13.8 (5,986) 12.8
Options exercisable, end of year 13,416 15.5 19,249 14.8 15,518 15.0
Fair value of options granted

(RMB) $7.03-8.93 $ - $ -
Information about USISH’s outstanding share options at each balance sheet date was as follows:
Range of
(RMB) Life (Years)
December 31, 2021
2015 share options $ 15.5 3.9

2019 share options 12.7 2.9
(Continued)
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Range of
(RMB) Life (Years)
December 31, 2022

(Concluded)
AMPI
In May 2021, the authority approved AMPI’s employee share options plan with the issuance up to
10,000 thousand units. The options are valid for 10 years, non-transferable and exercisable at certain
percentages subsequent to the second anniversary of the grant date. For any subsequent changes in
AMPI’s capital structure, the exercise price will be adjusted accordingly. AMPI’s board of directors
resolved a capital reduction which record date was determined at July 25, 2022, and the exercise price
of its share options was adjusted from NT$7.5 to NT$30 accordingly.
Information about share options was as follows:
For the Year Ended

December 31, 2022
Number of Exercise Price
Options (In Per Share
Thousands) (NT$)
Balance at January 1 - $ -
Options granted 3,100 30.0
Balance at December 31 3,100 30.0
Options exercisable, end of year - -
Weighted-average fair value of options granted ($) 18.0-18.8
Information about AMPI’s outstanding share options at each balance sheet date was as follows:
Range of Remaining
Exercise Price Contractual
Per Share Life (Years)
December 31, 2022
d. Employee restricted stock plans of subsidiaries
In November 2019, USISH adopted the first restricted stock plan (“2019 restricted stocks”) and granted
6,156 thousand ordinary shares to its directors (excluding independent directors), supervisors and
employees. In April 2020, the board of directors further resolved to grant 6,403 thousand ordinary
shares instead, while other terms remain constant. The plan was of 3 phases starting from 2019 and each
phase lasts for 1 year with a valid period of 4.5 years, 3.5 years and 2.5 years, respectively. Upon
- 93 -
satisfaction of certain performance conditions in each phase, participants are entitled to subscribe a
certain percentage of the total USISH’s ordinary shares issued under the plan with a lock-up period of 1
year. The valid period may be early terminated or extended prior to one month of the expiration date
depending on the conditions of ordinary shares granted. In the event that USISH increases share capital
by capital surplus or by cash, or distributes share dividends or cash dividends, the exercise price is
accordingly adjusted.
In September 2020, USISH adopted the second restricted stock plan (“2020 restricted stocks”) and
granted 425 thousand ordinary shares to its employees. The conditions of issued 2020 restricted stocks
are the same as 2019 restricted stocks plan, except that the restricted stocks are valid for 2 years and the
ordinary shares that USISH would issue to participants for free are with a lock-up period of 1.3 year.
In September 2021, USISH adopted the third restricted stock plan (“2021 restricted stocks”) and
granted 281 thousand ordinary shares to its expatriate staff. The conditions of issued 2021 restricted
stocks are the same as 2020 restricted stocks plan.
Information about restricted stocks was as follows:

2020 2021 2022
Thousands) (RMB) Thousands) (RMB) Thousands) (RMB)
Balance at January 1 6,156 $13.3 5,547 $12.2 3,565 $10.2

Options granted 672 4.9 281 - - -
Options expired - - - - (4) -
Options exercised (1,281) 13.2 (1,780) 12.7 (395) -
Options forfeited - - (483) 12.1 (1,182) 12.2
Options exercisable, end of year - - - - 1,715 12.4
Fair value of options granted

(RMB) $ 18.55 $ 11.78 $ -
Information about USISH’s outstanding restricted stocks at each balance sheet date was as follows:
Range of
(RMB) Life (Years)
December 31, 2021
2019 restricted stocks $ 12.7 2.3

2020 restricted stocks - 0.7
December 31, 2022
2019 restricted stocks 12.4 1.3

The Group’s shareholdings in USISH decreased because the abovementioned share option plans and
restricted stock plan were exercised in 2020, 2021 and 2022. The transaction was accounted for as an
equity transaction since the Group did not cease to have control over USISH and, as a result, capital
- 94 -
surplus increased by NT$1,010,219 thousand, NT$58,448 thousand and NT$125,049 thousand
(US$4,069 thousand) in 2020, 2021 and 2022, respectively.
e. Fair value information
The fair values at the grant date and the record date of capital reduction of AMPI’s 2022 share options
plan were measured by using the trinomial tree model. The fair values at the grant date of USISH’s
share options plan were measured by using the trinomial tree model, while USISH’s restricted stocks
plans were measured by using the Black-Scholes Option Pricing Model incorporating the effect of the
lock-up period. The inputs to the models were as follows:
Share options plan
2022 share
options plan
2020 share 2022 share after capital
options plan options plan reduction
Share price at the grant date RMB21.55 per share NT$7.5 per share NT$30.2 per share
Exercise price RMB21.65 per share NT$7.5 per share NT$30.0 per share
Expected volatility (%) 48.14-53.57 65.35-67.78 65.85-67.29
Expected lives (years) 2.2-4.2 6.0-7.0 5.8-6.8
Expected dividend yield - - -
Risk free interest rate (%) 2.80-2.99 1.15-1.19 1.11-1.15
Restricted stocks plan
2020 2021
restricted restricted
stocks plan stocks plan
RMB24.30 RMB14.65
Share price at the grant date per share per share
Exercise price (Note) (Note)
Expected volatility (%) 56.97 47.15
Lock-up periods (years) 1.3 1.3
Expected dividend yield - -
Risk free interest rate (%) 2.63 2.34
Note: The restricted stocks plan is to transfer ordinary shares for free upon satisfaction of certain
performance conditions prior to the expiration.
Expected volatilities were based on the annualized volatilities of AMPI’s and USISH’s historical share
prices.
For the years ended December 31, 2020, 2021 and 2022, employee benefits expense recognized on the
aforementioned employee share options plans and the restricted shares/stocks plans were NT$955,575
thousand, NT$699,211 thousand and NT$989,843 thousand (US$32,211 thousand), respectively.
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29. BUSINESS COMBINATIONS
a. Subsidiaries acquired
Proportion of
Voting Equity
Date of Interests Consideration
Principal Activity Acquisition Acquired (%) Transferred
NT$
FAFG Holding company and the group December 1, 100.00 $ 12,443,637

engaged in the design and 2020
components
ITGEU Trading company October 21, 2021 100.00 $ 50,368
SER Engaged in the design and November 2, 100.00 $ 217,919
manufacturing of electronic 2021
components
b. Consideration Transferred
FAFG ITGEU SER

NT$ NT$ NT$
Cash $ 11,094,802 $ 50,368 $ 217,919

Equity instrument issued 1,734,570 - -
Contingent consideration arrangement (385,735) - -
Fair value of identifiable net assets acquired $ 12,443,637 $ 50,368 $ 217,919
In December 2020, the Group’s subsidiary, USIFR, paid NT$10,800,558 thousand (equivalent to
US$368,753 thousand) in cash and the Group’s subsidiary, USISH, issued its 25,940 thousand new
ordinary shares, respectively, to acquire 100% shareholdings of FAFG. In addition, according to the
share purchase agreement, USIFR is obliged to pay an earn-out amount up to US$42,805 thousand in
2023 if FAFG’s net profit in 2021 and 2022 reaches the predetermined target. In December 2020,
USIFR deposited NT$294,244 thousand (equivalent to US$10,122 thousand) in advance to trust
account. Based on the valuation report of fair value of contingent consideration, USIFR will be able to
receive NT$385,735 thousand back, of which NT$294,244 thousand will be received from trust account
while NT$91,491 thousand will be received additionally.
In November 2021, the Group’s subsidiary, ASTEELFLASH FRANCE, acquired 100% shareholdings
of SER and obtained control over SER. In November 2021, the board of directors of ASTEELFLASH
FRANCE further resolved to merge SER. December 28, 2021 was the record date for the merger and
such merger was completed.
c. Assets acquired and liabilities assumed at the date of acquisition
FAFG ITGEU SER

NT$ NT$ NT$
Assets
Cash and cash equivalents $ 2,349,164 $ 68,719 $ 18,850
Trade and other receivables 4,434,296 41,832 40,671
Inventories 4,836,819 - 375,912
Property, plant and equipment 2,882,720 94 37,672
(Continued)
- 96 -
FAFG ITGEU SER
NT$ NT$ NT$
Intangible assets $ 1,541,155 $ 32 $ 368

Others 1,919,118 2,828 186,377
Liabilities
Trade and other payables (4,575,720) (29,165) (214,883)
Borrowings and bonds payables (356,417) - -
Others (3,155,051) (858) (227,048)
Fair value of identifiable net assets acquired $ 9,876,084 $ 83,482 $ 217,919

(Concluded)
d. Non-controlling interest
Non-controlling interests of FAFG were measured at its proportionate share of the fair value of FAFG’s
identifiable net assets.
e. Goodwill recognized on acquisitions or gain recognized in bargain purchase transaction
FAFG ITGEU SER

NT$ NT$ NT$
Consideration transferred $ 12,443,637 $ 50,368 $ 217,919

Add: Non-controlling interests 289 - -
Less: Fair value of identifiable net assets
acquired (9,876,084) (83,482) (217,919)
Goodwill recognized on acquisition (gain

recognized in bargain purchase transaction) $ 2,567,842 $ (33,114) $ -
The goodwill from acquisitions mainly represents the control premium. In addition, the consideration
paid for acquisitions effectively included amounts attributed to the benefits of expected synergies, such
as revenue growth and future market expansions. These benefits are not recognized separately from
goodwill because they do not meet the recognition criteria for identifiable intangible assets.
The goodwill recognized on acquisitions is not expected to be deductible for tax purpose.
f. Net cash outflow (inflow) on acquisition of subsidiaries
FAFG ITGEU SER

NT$ NT$ NT$
Consideration transferred $ 11,094,802 $ 50,368 $ 217,919

Less: Cash and cash equivalent acquired (2,349,164) (68,719) (18,850)
Net cash outflow (inflow) on acquisition of

subsidiaries $ 8,745,638 $ (18,351) $ 199,069
g. Impact of acquisitions on the results of the Group
The results of operations since the acquisition date were included in the consolidated statements of
comprehensive income and were as follows
- 97 -
FAFG ITGEU SER
(for the period (for the period (for the period
from December 1, from October 21, from November 2,
2020 through 2021 through 2021 through
December 31, December 31, December 31,
2020) 2021) 2021)
NT$ NT$ NT$
Operating revenue $ 2,043,440 $ 75,221 $ 225,017

Net profit (loss) $ 91,179 $ (4,593) $ (508)
Had the abovementioned business combinations been in effect at the beginning of each annual reporting
period and the investments originally accounted for using the equity method been remeasured to their
fair value as of January 1 of each respective annual reporting period, the Group’s operating revenues
and profit for the year would have been NT$497,146,285 thousand and NT$28,833,916 thousand for
the year ended December 31, 2020, respectively, and NT$570,363,380 thousand and NT$62,277,713
thousand for the year ended December 31, 2021, respectively. This pro-forma information is for
illustrative purposes only and is not necessarily an indication of the operating revenue and results of
operations of the Group that actually would have been achieved had the acquisition been completed at
the beginning of each annual reporting period, nor is it intended to be a projection of future results.
In determining the pro-forma operating revenue and profit for the period had each subsidiary been
acquired at the beginning of each respective annual reporting period, the Group has calculated the
depreciation of property, plant and equipment and the amortization of intangible assets acquired on the
basis of the fair values at the initial accounting for the business combination rather than the carrying
amounts recognized in the respective pre-acquisition financial statements.
h. As of December 31, 2021, the Group has completed the identification of the difference between the
cost of the investment and the Group’s share of FAFG’s net fair value of identifiable assets and
liabilities, and has retrospectively adjusted the comparative consolidated financial statements as of and
for the year ended December 31, 2020. As of December 31, 2020, the retrospective adjustments are
summarized as follows:
December 31, 2020

After Before
Retrospectively Retrospectively
Adjusted Adjusted
NT$ NT$
Consolidated balance sheet
Inventories $ 48,590,434 $ 48,516,459

Financial assets at fair value through profit or loss – non-current $ 2,180,978 $ 1,793,188
Property, plant and equipment $ 234,365,397 $ 233,207,324
Right-of-use assets $ 8,741,807 $ 8,620,612
Goodwill $ 52,709,053 $ 54,777,439
Other intangible assets $ 27,711,771 $ 26,808,668
Deferred tax liabilities $ 7,121,027 $ 6,551,233
Non-controlling interests $ 15,622,009 $ 15,616,053
30. DISPOSAL OF SUBSIDIARIES
The board of directors of the Group’s subsidiary, SPIL (Cayman) Holding Limited, resolved in September
2020 to dispose its 100% shareholdings in Siliconware Electronics (Fujian) Co., Limited (“SF”) to
Shenzhen Hiwin System Limited with a consideration of RMB966,000 thousand. The disposal was
- 98 -
completed in October 2020 and the control over SF was transferred to the acquirer.
The board of directors of the Company resolved in December 2021 to dispose its 100% shareholdings in
GAPT Holding Limited (including its subsidiaries) and ASEKS (collectively, “GAPT Holding and
ASEKS”). The disposal was completed in December 2021 and the control over GAPT Holding and ASEKS
was transferred to the acquirer.
a. Analysis of assets and liabilities on the date control was lost
2020 2021
GAPT Holding
SF and ASEKS
NT$ NT$
Current Assets
Cash and cash equivalent $ 200,347 $ 2,625,715
Trade and other receivables 318,425 4,505,531
Inventories 239,865 2,284,880
Other current assets 111,913 1,215,992
Non-Current Assets
Property, plant and equipment 7,546,413 16,693,129
Right-of-use assets 812,861 181,855
Investment property - 787,250
Goodwill - 310,711
Deferred tax assets 298,217 659,972
Other non-current assets 43,482 308,500
Current Liabilities
Short-term borrowings - (2,443,005)
Trade and other payables (1,739,330) (5,949,592)
Current portion of long-term borrowings (1,746,000) -
Other current liabilities (24,564) (647,027)
Non-Current Liabilities
Long-term borrowings (2,947,682) -
Deferred tax liabilities (796) (200,899)
Lease liabilities – non-current - (8,150)
Other non-current liabilities - (156,863)
Net assets disposed of $ 3,113,151 $ 20,167,999
b. Gain on disposal of subsidiaries
2020 2021
GAPT Holding
SF and ASEKS
NT$ NT$
Total consideration (paid in cash) $ 4,078,844 $ 36,939,133

Net assets disposed of (3,113,151) (20,167,999)
Reclassification of accumulated exchange difference from
equity to profit or loss due to the loss of control (162,940) 569,284
Gain on disposals $ 802,753 $ 17,340,418
- 99 -
c. Net cash inflow on disposals of subsidiaries
2020 2021
GAPT Holding
SF and ASEKS
NT$ NT$
Consideration received in cash and cash equivalents $ 4,078,844 $ 36,939,133

Less: Cash and cash equivalent balances disposed of (200,347) (2,625,715)
Other receivables (the outstanding receivables of
consideration, net of relevant expenditure) (161,458) (10,533,600)
$ 3,717,039 $ 23,779,818
The due date of the abovementioned other receivables (the “Receivables”) in relation with GAPT
Holding and ASEKS, originally scheduled to be the business day following the expiration of 6 months
from the settlement date, was postponed to the business day following the expiration of 15 months from
the settlement date, which was March 17, 2023, by the resolution of the board of directors and the
agreement with the counterparty. To increase our opportunity for capital gains in the future, the
Company’s board of directors revolved on March 15, 2023 to enter into a supplemental share purchase
agreement (the “Agreement”) with the counterparty and its affiliates stipulating that the counterparty’s
affiliate will offer us newly issued ordinary shares (the “Alternative Consideration Shares”) as an
alternative to its obligation of the Receivables. If the counterparty’s affiliate fail to offer us the
Alternative Consideration Shares within 12 months following the signing date of the Agreement, the
counterparty and its affiliates should pay us the Receivables within 5 months after the expiry of the 12-
month period.
31. EQUITY TRANSACTION WITH NON-CONTROLLING INTERESTS
a. USISH
In September 2021 and 2022, USISH repurchased its own 16,042 thousand and 9,356 thousand
outstanding ordinary shares, respectively, and made the Group’s shareholdings of USISH increased.
The transaction was accounted for as an equity transaction since the transaction did not change the
Group’s control over USISH and, as a result, the Group’s capital surplus was then decreased by
NT$11,277 thousand and NT$8,963 thousand (US$292 thousand), respectively, and retained earnings
was then decreased by NT$436,927 thousand and NT$211,184 thousand (US$6,872 thousand),
respectively.
b. USIPL
In May 2020, the board of directors of Universal Global Electronics Co., Ltd. resolved to acquire 40%
shareholdings of USIPL from Chung Hong Electronics (Suzhou) Co., Ltd. at RMB24,500 thousand.
The aforementioned transaction resulted the Group’s shareholdings in USIPL to increase from 60% to
100%, and such transactions were accounted for as an equity transaction since the Group did not cease
to have control over USIPL. The Group recognized a decrease in capital surplus by NT$13,502
thousand in the second quarter of 2020.
c. USIE
In September 2020, the shareholders’ meeting of USIE resolved to repurchase its own 10,308 thousand
outstanding ordinary shares at US$19.47 per share, and made the Group’s shareholdings of USIE
increased from 95.00% to 99.62%. The transaction was accounted for as an equity transaction since the
transaction did not change the Group’s control over USIE and, then, capital surplus and retained
earnings were decreased by NT$780,533 thousand and NT$2,760,175 thousand, respectively, in the
- 100 -
third quarter of 2020. In September 2020, the board of directors of USIE resolved September 15, 2020
was the record date for capital reduction and then the repurchased ordinary shares were subsequently
cancelled.
In December 2021, the shareholders’ meeting of USIE resolved to repurchase its own 9,137 thousand
outstanding ordinary shares at US$17.20 per share, and made the Group’s shareholdings of USIE
increased from 95.85% to 100.00%. The transaction was accounted for as an equity transaction since
the transaction did not change the Group’s control over USIE and, then, capital surplus and retained
earnings were decreased by NT$47,171 thousand and NT$2,093,787 thousand, respectively, in the
fourth quarter of 2021. In December 2021, the board of directors of USIE resolved that December 22,
2021 was the record date for capital reduction and the repurchased ordinary shares were subsequently
cancelled.
32. CASH FLOW INFORMATION
a. Non-cash investing activities
In addition to other notes, the Group entered into the following investing activities which include both
cash and non-cash items for the years ended December 31, 2020, 2021 and 2022:

2020 2021 2022
Payments for property, plant

and equipment
Purchase of property, plant
and equipment $ 59,024,201 $ 74,417,541 $ 75,800,574 $ 2,466,664
Increase (decrease) in other
non-current assets 78,291 1,184,927 (5,480) (178)
Decrease (increase) in other
payables 3,029,162 (4,671,228) (3,096,926) (100,779)
Capitalized borrowing costs (54,208) (25,581) (58,263) (1,896)
$ 62,077,446 $ 70,905,659 $ 72,639,905 $ 2,363,811
Proceeds from disposal of

property, plant and equipment
Consideration from disposal
of property, plant and
equipment $ 5,184,925 $ 1,128,850 $ 612,213 $ 19,922
non-current assets - (134,760) 134,760 4,385
receivables (735,812) 610,912 2,784 91
$ 4,449,113 $ 1,605,002 $ 749,757 $ 24,398
- 101 -
b. Changes in liabilities arising from financing activities
Short-term
Borrowings
(including financial Long-term
liabilities for hedging) Bonds Payable Borrowings Lease Liabilities Total
NT$ NT$ NT$ NT$ NT$
Balance at January 1, 2020 $ 40,572,329 $ 36,522,155 $ 141,078,598 $ 5,808,924 $ 223,982,006

Net financing cash flows (1,502,323) 19,717,149 (26,500,139) (844,357) (9,129,670)
Interest under operating activities - - - 111 111
Rent expense under operating activities - - - (7,729) (7,729)
Non-cash changes
Additions to lease liabilities - - - 584,642 584,642
Amortization of issuance cost - 14,250 156,982 - 171,232
Lease modifications - - - (289,687) (289,687)
Short-term borrowings transferred to
long-term borrowings (3,850,000) - 3,850,000 - -
Adjustments for government subsidy - - 41,650 - 41,650
Acquisition of subsidiaries (Note 29) 356,417 - - 633,606 990,023
Disposal of subsidiaries (Note 30) - - (4,693,682) (670) (4,694,352)
Effects of foreign currency exchange (978,565) - (1,542,685) (9,010) (2,530,260)
Balance at December 31, 2020 $ 34,597,858 $ 56,253,554 $ 112,390,724 $ 5,875,830 $ 209,117,966
Short-term Long-term
Borrowings Borrowings
(including financial (including financial
liabilities for hedging) Bonds Payable liabilities for hedging) Lease Liabilities Total
NT$ NT$ NT$ NT$ NT$

Net financing cash flows 10,043,398 (3,719,057) 16,018,825 (907,403) 21,435,763
Rent expense under operating activities - - - (184) (184)
Equity components of convertible bonds and
embedded derivative liability - (399,955) - - (399,955)
Non-cash changes
Additions to lease liabilities - - - 2,037,665 2,037,665
Convertible bonds issued by subsidiaries
and converted to ordinary shares - (102) - - (102)
Acquisition of subsidiaries (Note 29) - - - 180,745 180,745
Disposal of subsidiaries (Note 30) (2,443,005) - - (32,655) (2,475,660)
Reclassification - - - 380,292 380,292
Effects of foreign currency exchange (1,161,822) 6,614 (2,162,038) (76,407) (3,393,653)
NT$ NT$ NT$ NT$ NT$

Net financing cash flows 1,866,253 (3,539,423) (29,516,421) (1,035,019) (32,224,610)
Interest under operating activities - - - 1,394 1,394
Rent expense under operating activities - - - (1,904) (1,904)
embedded derivative liability - (1,092,004) - - (1,092,004)
Non-cash changes
Additions to lease liabilities - - - 1,379,342 1,379,342
(Continued)
- 102 -
NT$ NT$ NT$ NT$ NT$

and converted to ordinary shares $ - $ (171) $ - $ - $ (171)
Adjustments for government subsidy - - (46,672) - (46,672)
Long-term borrowings transferred to
short-term borrowings 1,522,294 - (1,522,294) - -
Effects of foreign currency exchange 2,306,154 31,826 4,487,661 82,339 6,907,980

(Concluded)
Balance at January 1, 2022 $ 1,335,387 $ 1,700,857 $ 4,115,603 $ 240,803 $ 7,392,650

Net financing cash flows 60,731 (115,178) (960,509) (33,681) (1,048,637)
Rent expense under operating activities - - - (62) (62)
embedded derivative liability - (35,535) - - (35,535)
Non-cash changes
Additions to lease liabilities - - - 44,886 44,886
and converted to ordinary shares - (6 ) - - (6 )
Adjustments for government subsidy - - (1,519) - (1,519)
Long-term borrowings transferred to
short-term borrowings 49,538 - (49,538) - -
Effects of foreign currency exchange 75,045 1,036 146,037 2,680 224,798
Balance at December 31, 2022 $ 1,520,701 $ 1,557,121 $ 3,253,806 $ 250,846 $ 6,582,474
c. Total taxes paid

2020 2021 2022
Operating activities $ 5,536,077 $ 7,423,947 $ 14,250,527 $ 463,733

Investing activities - 570,700 842,440 27,414
$ 5,536,077 $ 7,994,647 $ 15,092,967 $ 491,147
33. CAPITAL MANAGEMENT
The capital structure of the Group consists of debt and equity. The Group manages its capital to ensure that
entities in the Group will be able to continue as going concerns while maximizing the return to shareholders
through the optimization of the debt and equity balance. Key management personnel of the Group
periodically reviews the cost of capital and the risks associated with each class of capital. In order to
balance the overall capital structure, the Group may adjust the amount of dividends paid to shareholders,
the number of new shares issued or repurchased, and the amount of new debt issued or existing debt
redeemed.
The Group is not subject to any externally imposed capital requirements except those discussed in Note 20.
- 103 -
34. FINANCIAL INSTRUMENTS
a. Fair value of financial instruments that are not measured at fair value
1) Fair value of financial instruments not measured at fair value but for which fair value is disclosed
Except bonds payable measured at amortized cost, the management considered that the carrying
amounts of financial assets and financial liabilities not measured at fair value approximate their fair
values. The carrying amounts and fair value of bonds payable as of December 31, 2021 and 2022
were as follows:
Carrying Amount Fair Value

NT$ US$ (Note 4) NT$ US$ (Note 4)
December 31, 2021 $ 52,267,337 $ 52,429,758

December 31, 2022 47,850,324 $ 1,557,121 47,027,018 $ 1,530,329
2) Fair value hierarchy
The aforementioned fair value hierarchy of bonds payable was Level 3 which was determined based
on discounted cash flow analysis with the applicable yield curve for the duration. The significant
unobservable inputs is discount rates that reflected the credit risk.
b. Fair value of financial instruments that are measured at fair value on a recurring basis
1) Fair value hierarchy
Level 1 Level 2 Level 3 Total

NT$ NT$ NT$ NT$
December 31, 2021
Financial assets at FVTPL

Derivative financial assets
Swap contracts $ - $ 85,629 $ - $ 85,629
Forward exchange
contracts - 23,373 - 23,373
Call option and put option
of convertible bonds - 8,463 - 8,463
Target redemption
forward contracts - 500 - 500
Non-derivative financial
assets
Quoted ordinary shares 2,683,193 - - 2,683,193
Private-placement funds - - 1,322,686 1,322,686
Contingent considerations - - 394,943 394,943
Unquoted preferred shares - - 583,270 583,270
Open-end mutual funds 334,223 - - 334,223
$ 3,017,416 $ 117,965 $ 2,300,899 $ 5,436,280
Financial assets at FVTOCI

Investments in equity
instruments
Unquoted ordinary shares $ - $ - $ 820,779 $ 820,779
Quoted ordinary shares 102,124 - - 102,124
(Continued)
- 104 -
NT$ NT$ NT$ NT$
Limited partnership $ - $ - $ 9,206 $ 9,206

Investments in debt
instruments
Unsecured subordinate
corporate bonds - - 1,076,458 1,076,458
Trade receivables, net - - 6,092,462 6,092,462
$ 102,124 $ - $ 8,010,150 $ 8,112,274
Financial liabilities at FVTPL

Derivative financial
liabilities
Swap contracts $ - $ 360,797 $ - $ 360,797
Forward exchange
contracts - 56,863 - 56,863
$ - $ 417,660 $ - $ 417,660
December 31, 2022

Swap contracts $ - $ 3,205,828 $ - $ 3,205,828
Forward exchange
contracts - 246,710 - 246,710
assets
Quoted ordinary shares 2,521,964 - - 2,521,964
Private-placement funds - - 1,599,932 1,599,932
$ 2,815,349 $ 3,452,538 $ 2,666,264 $ 8,934,151

instruments
Limited partnership - - 3,502 3,502
Investments in debt
instruments
corporate bonds - - 1,059,712 1,059,712
Trade receivables, net - - 5,402,714 5,402,714
$ 45,683 $ - $ 6,899,302 $ 6,944,985

liabilities
Swap contracts $ - $ 543,547 $ - $ 543,547
Forward exchange
contracts - 83,213 - 83,213
$ - $ 626,760 $ - $ 626,760
(Concluded)
- 105 -
US$ US$ US$ US$
(Note 4) (Note 4) (Note 4) (Note 4)
December 31, 2022

Swap contracts $ - $ 104,323 $ - $ 104,323
Forward exchange
contracts - 8,028 - 8,028
assets
Private-placement funds - - 52,064 52,064
$ 91,616 $ 112,351 $ 86,764 $ 290,731

instruments
Unquoted preferred shares - - 452 452
Limited partnership - - 114 114
Investments in debt
instruments
corporate bonds - - 34,485 34,485
Trade receivables, net - - 175,812 175,812
$ 1,486 $ - $ 224,514 $ 226,000

liabilities
Swap contracts $ - $ 17,688 $ - $ 17,688
Forward exchange
contracts - 2,708 - 2,708
$ - $ 20,396 $ - $ 20,396
For the financial assets and liabilities that were measured at fair value on a recurring basis, there
were no transfers between Level 1 and Level 2 of the fair value hierarchy during the years ended
December 31, 2021 and 2022.
2) Reconciliation of Level 3 fair value measurements of financial assets
Financial Assets at FVTPL Financial Assets at FVTOCI

Equity Debt Equity Debt
Financial Assets Instruments Instruments Instruments Instruments Total
NT$ NT$ NT$ NT$ NT$
Balance at January 1 $ 1,005,714 $ - $ 755,903 $ 3,044,562 $ 4,806,179

Recognized in profit or loss (17,941) - - - (17,941)
(Continued)
- 106 -
NT$ NT$ NT$ NT$ NT$
Recognized in other comprehensive income

Included in unrealized losses on financial
assets at FVTOCI $ - $ - $ (149,856) $ (2,136) $ (151,992)
Effects of foreign currency exchange (15,455) - (15,562) - (31,017)
Net increase in trade receivables - 370,110 - 5,635,706 6,005,816
Trade receivables factoring - (370,110) - (7,038,983) (7,409,093)
Purchases 893,234 - 259,168 - 1,152,402
Disposals (329,370) - (121,255) - (450,625)
Acquisition through business combinations 387,790 - - - 387,790
Exercise of call option (25,988) - - - (25,988)
Balance at December 31 $ 1,897,984 $ - $ 728,398 $ 1,639,149 $ 4,265,531

(Concluded)

NT$ NT$ NT$ NT$ NT$

Recognized in profit or loss 131,276 - - - 131,276
Included in unrealized gains on financial assets
at FVTOCI - - 129,726 63,722 193,448
Effects of foreign currency exchange (79,614 ) - (4,508 ) - (84,122 )
Net increase in trade receivables - 3,269,782 - 14,940,539 18,210,321
Trade receivables factoring - (3,269,782 ) - (9,474,490 ) (12,744,272 )
Purchases 459,046 - 32,246 - 491,292
Disposals (107,793 ) - (14,873 ) - (122,666 )
Reclassify - - (29,758 ) - (29,758 )

NT$ NT$ NT$ NT$ NT$

Recognized in profit or loss 100,134 605 - - 100,739
assets at FVTOCI - - (366,862 ) (16,746 ) (383,608 )
Effects of foreign currency exchange 195,415 - 5,558 - 200,973
Net increase (decrease) in trade receivables - 4,330,075 - (674,112 ) 3,655,963
Trade receivables factoring - (4,330,075 ) - (15,636 ) (4,345,711 )
Purchases 338,016 14,325 20,000 - 372,341
Disposals (268,200 ) (14,930 ) (63,051 ) - (346,181 )
- 107 -
US$ US$ US$ US$ US$
(Note 4) (Note 4) (Note 4) (Note 4) (Note 4)
Balance at January 1 $ 74,875 $ - $ 27,375 $ 233,287 $ 335,537

Recognized in profit or loss 3,258 20 - - 3,278
assets at FVTOCI - - (11,938 ) (545 ) (12,483 )
Effects of foreign currency exchange 6,359 - 181 - 6,540
Net increase (decrease) in trade receivables - 140,907 - (21,936 ) 118,971
Trade receivables factoring - (140,907 ) - (509 ) (141,416 )
Purchases 11,000 466 651 - 12,117
Disposals (8,728 ) (486 ) (2,052 ) - (11,266 )
Balance at December 31 $ 86,764 $ - $ 14,217 $ 210,297 $ 311,278
3) Valuation techniques and assumptions applied for the purpose of measuring fair value
a) Valuation techniques and inputs applied for the purpose of measuring Level 2 fair value
measurement
Financial Instruments Valuation Techniques and Inputs
Derivatives - swap contracts and Discounted cash flows - Future cash flows are estimated
forward exchange contracts based on observable forward exchange rates at balance
sheet dates and contract forward exchange rates,
discounted at rates that reflected the credit risk of various
counterparties.
Derivatives - redemption option Option pricing models - Use of present value techniques and
and put option of convertible reflect the time value and intrinsic value of redemption
bonds option and put option.
Target redemption forward Valuation based on the spot exchange rate on the valuation
contracts date, the exercise price, the volatility in exchange rate, the
contract period and the quoted risk free interest rate
during the contract period.
b) Valuation techniques and inputs applied for the purpose of measuring Level 3 fair value
measurement
The fair value of unquoted ordinary shares, unquoted preferred shares, limited partnership and
private-placement funds were determined by using market approach and asset-based approach.
The significant unobservable inputs were the discount rates for lack of marketability of 10% to
20%. If the discount rates for lack of marketability to the valuation model increased by 1% to
reflect reasonably possible alternative assumptions while all other variables held constant, the
fair value of the abovementioned investments would have decreased approximately by
NT$19,300 thousand and NT$6,600 thousand (US$215 thousand) as of December 31, 2021 and
2022, respectively.
The fair values of the unsecured subordinate corporate bonds were determined using income
approach based on a discounted cash flow analysis. The significant unobservable input was the
discount rate that reflects the credit risk of the counterparty. If the discount rate increased by
0.1% while all other variables held constant, the fair value of the bonds would have decreased
approximately by NT$4,000 thousand and NT$3,000 thousand (US$98 thousand) as of
December 31, 2021 and 2022, respectively.
The fair value of accounts receivables measured at FVTOCI are determined based on the
present value of future cash flows that reflect the credit risk of counterparties. Since the discount
effect was not significant, the Group measured its fair value by using the nominal values.
- 108 -
The fair value of the contingent considerations were determined by using the Monte Carlo
Simulation method. If the estimated net profit margin fails to reach the performance specified in
the agreement, the Group could receive the contingent considerations according to the
agreement, refer to Note 29 for business combinations.
c. Categories of financial instruments
December 31
2021 2022
Financial assets
FVTPL
Mandatorily at FVTPL $ 5,436,280 $ 8,934,151 $ 290,731
Measured at amortized cost (Note 1) 200,732,680 188,733,772 6,141,678
FVTOCI
Equity instruments 943,354 482,559 15,703
Debt instruments 1,076,458 1,059,712 34,485
Trade receivables, net 6,092,462 5,402,714 175,812
Financial liabilities
FVTPL
Held for trading 417,660 626,760 20,396
Financial liabilities for hedging 11,497,896 12,204,620 397,157
Measured at amortized cost (Note 2) 339,445,544 318,478,685 10,363,771
Note 1: The balances included financial assets measured at amortized cost which comprised cash and
cash equivalents, trade and other receivables and other financial assets.
Note 2: The balances included financial liabilities measured at amortized cost which comprised short-
term borrowings, trade and other payables, bonds payable and long-term borrowings.
d. Financial risk management objectives and policies
The derivative instruments used by the Group were to mitigate risks arising from ordinary business
operations. All derivative transactions entered into by the Group were designated as either hedging or
trading. Derivative transactions entered into for hedging purposes must hedge risk against fluctuations
in foreign exchange rates and interest rates arising from operating activities. The currencies and the
amount of derivative instruments held by the Group must match its hedged assets and liabilities
denominated in foreign currencies.
The Group’s risk management department monitored risks to mitigate risk exposures, reported unsettled
position, transaction balances and related gains or losses to the Group’s chief financial officer on
monthly basis.
1) Market risk
The Group’s activities exposed it primarily to the financial risks of changes in foreign currency
exchange rates and interest rates. Gains or losses arising from fluctuations in foreign currency
exchange rates of a variety of derivative financial instruments were approximately offset by those of
hedged items. Interest rate risk was not significant due to the cost of capital was expected to be
fixed.
- 109 -
There had been no change to the Group’s exposure to market risks or the manner in which these
risks were managed and measured.
a) Foreign currency exchange rate risk
The Group had sales and purchases as well as financing activities denominated in foreign
currency which exposed the Group to foreign currency exchange rate risk. The Group entered
into a variety of derivative financial instruments to hedge foreign currency exchange rate risk to
minimize the fluctuations of assets and liabilities denominated in foreign currencies.
The carrying amounts of the Group’s foreign currency denominated monetary assets and
liabilities (including those eliminated upon consolidation) as well as derivative instruments
which exposed the Group to foreign currency exchange rate risk at each balance sheet date are
presented in Note 40.
The Group was mainly subject to the impact from the exchange rate fluctuation in US$ and JPY
against NT$, RMB or EUR. 1% fluctuation is used when reporting foreign currency exchange
rate risk internally to key management personnel and represents management’s assessment of
the reasonably possible change in foreign currency exchange rates. The sensitivity analysis
included financial assets and liabilities and inter-company receivables and payables within the
Group. The changes in profit before income tax due to a 1% change in US$ and JPY against
NT$, RMB and EUR would be NT$35,000 thousand, NT$38,000 thousand and NT$60,000
thousand (US$1,952 thousand) for the years ended December 31, 2020, 2021 and 2022,
respectively. Hedging contracts and hedged items have been taken into account while measuring
the changes in profit before income tax. The abovementioned sensitivity analysis mainly
focused on the foreign currency monetary items at each balance sheet date. As the period-end
exposure did not reflect the exposure for the years ended December 31, 2020, 2021 and 2022,
the abovementioned sensitivity analysis was unrepresentative of those respective years.
Hedge accounting
The Group’s hedging strategy was to lift borrowings denominated in foreign currencies to avoid
exchange rate exposure from its investments in equity instruments denominated in foreign
currencies (recognized under the line item of financial assets at FVTPL) and net investment in
foreign subsidiary, USIFR, which has EUR as its functional currency. Those transactions were
designated as fair value hedges and a hedge of net investment in foreign operation, respectively.
Hedge adjustments were made to totally offset the foreign exchange gains or losses from those
equity instruments denominated in foreign currencies and foreign operations when they were
evaluated based on the exchange rates on each balance sheet date.
The source of hedge ineffectiveness in these hedging relationships arose from the material
difference between the notional amounts of borrowings denominated in foreign currencies and
the fair value of investments in equity instruments denominated in foreign currencies and net
investment in foreign operations. No other sources of ineffectiveness is expected to emerge
from these hedging relationships.
December 31, 2021

Hedging Instrument/ Line item in Carrying Amount
Hedged Items Balance sheet Asset Liability
NT$ NT$
Fair value hedge
Borrowings denominated in Financial liabilities for hedging - $ - $ 2,954,921
foreign currencies/ Financial current
assets at FVTPL
Hedge of net investment in foreign Financial liabilities for hedging - - 3,762,044
operation current
Hedge of net investment in foreign Financial liabilities for hedging - - 4,780,931
operation non-current
- 110 -
Carrying Accumulated
Amount of Amount of Fair
Hedged Item in Value Hedge
Change in Value Used for Accumulated Gains or Fair Value Adjustments on
Calculating Hedge Ineffectiveness Losses in Other Equity Hedge Hedged Item
Hedge
Hedging Instrument/ Hedging Continuing Accounting No
Hedged Item Instrument Hedged Item Hedges Longer Applied Asset Asset
Fair value hedge

Borrowings denominated $ 94,145 $ (94,145 ) $ - $ - $ 2,318,517 $ (236,362 )
in foreign currencies/
Hedge of net investment in (738,600 ) 738,600 163,776 - - -
foreign operation
December 31, 2022
Hedging Instrument/ Line item in Carrying Amount

Hedged Items Balance sheet Asset Liability
NT$ US$ NT$ US$
(Note 4) (Note 4)
Fair value hedge

Borrowings denominated in Financial liabilities for hedging - $ - $ - $ 3,278,805 $ 106,697
foreign currencies/ Financial current
assets at FVTPL
Hedge of net investment in foreign Financial liabilities for hedging - - - 8,925,815 290,460
operation current
Hedge
Fair value hedge

Borrowings denominated $ (323,884) $ 323,884 $ - $ - $ 2,282,243 $ 87,522
Hedge of net investment in (509,229) 509,229 673,005 - - -
foreign operation
Hedge
Fair value hedge

Borrowings denominated $ (10,540) $ 10,540 $ - $ - $ 74,568 $ 2,848
Hedge of net investment in (16,571) 16,571 21,901 - - -
foreign operation
b) Interest rate risk
Except a portion of long-term borrowings and bonds payable at fixed interest rates, the Group
was exposed to interest rate risk because group entities borrowed funds at floating interest rates.
Changes in market interest rates led to variances in effective interest rates of borrowings from
which the future cash flow fluctuations arise. The Group utilized financing instruments with low
interest rates and favorable terms to maintain low financing cost, adequate banking facilities, as
well as to hedge interest rate risk.
- 111 -
The carrying amounts of the Group’s financial assets and financial liabilities with exposure to
interest rates at each balance sheet date were as follows:
December 31
2021 2022
Fair value interest rate risk
Financial assets $ 5,474,105 $ 16,434,562 $ 534,805
Financial liabilities 76,206,394 91,152,265 2,966,231
Cash flow interest rate risk

Financial assets 69,654,969 41,964,775 1,365,596
Financial liabilities 158,557,225 121,370,564 3,949,579
For assets and liabilities with floating interest rates, a 100 basis point increase or decrease was
used when reporting interest rate risk internally to key management personnel. If interest rates
had been 100 basis points (1%) higher or lower and all other variables held constant, the
Group’s profit before income tax for the years ended December 31, 2020, 2021 and 2022 would
have decreased or increased approximately by NT$862,000 thousand, NT$959,000 thousand
and NT$794,000 thousand (US$25,838 thousand), respectively.
c) Other price risk
The Group was exposed to equity price risk through its investments in financial assets at
FVTPL and financial assets at FVTOCI. If equity price was 1% higher or lower, profit before
income tax for the years ended December 31, 2020, 2021 and 2022 would have increased or
decreased approximately by NT$59,000 thousand, NT$49,000 thousand and NT$50,000
thousand (US$1,627 thousand), respectively, and other comprehensive income before income
tax for the years ended December 31, 2020, 2021 and 2022 would have increased or decreased
approximately by NT$7,000 thousand, NT$9,000 thousand and NT$5,000 thousand (US$163
thousand), respectively.
2) Credit risk
Credit risk refers to the risk that counterparty will default on its contractual obligations resulting in
financial loss to the Group. The Group’s credit risk arises from cash and cash equivalents, contract
assets, trade and other receivables and other financial assets. The Group’s maximum exposure to
credit risk was the carrying amounts of financial assets in the consolidated balance sheets.
As of December 31, 2021 and 2022, the Group’s five largest customers accounted for 33% and 30%
of trade receivables, respectively. The Group transacts with a large number of unrelated customers
and, thus, no concentration of credit risk was observed.
3) Liquidity risk
The Group manages liquidity risk by maintaining adequate working capital and banking facilities to
fulfill the demand for cash flow used in the Group’s operation and capital expenditure. The Group
also monitors its compliance with all the loan covenants. Liquidity risk is not considered to be
significant.
In the table below, financial liabilities with a repayment on demand clause were included in the
earliest time band regardless of the probability of counter-parties choosing to exercise their rights.
The maturity dates for other non-derivative financial liabilities were based on the agreed repayment
dates.
- 112 -
To the extent that interest flows are floating rate, the undiscounted amounts were derived from the
interest rates at each balance sheet date.
December 31, 2021
On Demand or
Less than 3 Months to More than
1 Month 1 to 3 Months 1 Year 1 to 5 Years 5 Years
NT$ NT$ NT$ NT$ NT$
Non-derivative financial liabilities
Non-interest bearing $ 52,353,176 $ 48,140,652 $ 10,216,253 $ 291,480 $ 114,201

Obligation under leases 84,978 157,710 687,144 2,585,624 4,929,602
Floating interest rate liabilities 12,565,548 5,180,527 13,416,893 112,493,242 7,494,670
Fixed interest rate liabilities 10,262,781 3,093,668 12,978,593 43,555,458 5,479,867
$ 75,266,483 $ 56,572,557 $ 37,298,883 $ 158,925,804 $ 18,018,340
Further information for maturity analysis of obligation under leases was as follows:
Less than More than

1 Year 1 to 5 Years 5 to 10 Years 10 to 15 Years 15 to 20 Years 20 Years
Obligation under leases $ 929,832 $ 2,585,624 $ 1,731,995 $ 883,335 $ 802,765 $ 1,511,507
December 31, 2022
On Demand or
NT$ NT$ NT$ NT$ NT$
Non-interest bearing $ 65,356,106 $ 33,887,460 $ 11,145,612 $ 20,498 $ 74,643

Obligation under leases 120,733 201,686 790,427 2,685,977 5,147,266
Floating interest rate liabilities 9,251,237 10,982,036 9,652,804 93,837,521 5,648,699
Fixed interest rate liabilities 12,530,681 9,209,134 9,055,918 44,756,570 29,280
$ 87,258,757 $ 54,280,316 $ 30,644,761 $ 141,300,566 $ 10,899,888
On Demand or
Non-interest bearing $ 2,126,785 $ 1,102,748 $ 362,695 $ 667 $ 2,429

Obligation under leases 3,929 6,563 25,722 87,406 167,500
Floating interest rate liabilities 301,049 357,372 314,117 3,053,613 183,817
Fixed interest rate liabilities 407,767 299,679 294,693 1,456,445 953
$ 2,839,530 $ 1,766,362 $ 997,227 $ 4,598,131 $ 354,699
Further information for maturity analysis of obligation under leases was as follows:
Less than More than

Obligation under leases $ 1,112,846 $ 2,685,977 $ 1,536,779 $ 939,751 $ 881,803 $ 1,788,933
Less than More than

Obligation under leases $ 36,214 $ 87,406 $ 50,009 $ 30,581 $ 28,695 $ 58,215
- 113 -
The amounts included above for floating interest rate instruments for non-derivative financial
liabilities were subject to change if changes in floating interest rates differ from those estimates of
interest rates determined at each balance sheet date.
The following table detailed the Group’s liquidity analysis for its derivative financial instruments.
The table was based on the undiscounted contractual net cash inflows and outflows on derivative
instruments settled on a net basis, and the undiscounted gross cash inflows and outflows on those
derivatives that require gross settlement. When the amounts payable or receivable are not fixed, the
amounts disclosed have been determined by reference to the projected interest rates as illustrated by
the yield curves at each balance sheet date.
On Demand or
Less than 3 Months to
1 Month 1 to 3 Months 1 Year
NT$ NT$ NT$
December 31, 2021
Net settled
Forward exchange contracts $ (21,379) $ (1,410) $ -
Gross settled
Forward exchange contracts
Inflows $ 2,382,315 $ 6,817,411 $ 531,596
Outflows (2,380,359) (6,784,689) (525,920)
1,956 32,722 5,676
Swap contracts
Inflows 23,759,435 21,272,450 37,841,805
Outflows (23,814,701) (21,314,442) (37,965,438)
(55,266) (41,992) (123,633)
Target redemption forward contracts

Inflows 19,376 43,596 33,216
Outflows (18,845) (42,401) (32,243)
531 1,195 973
$ (52,779) $ (8,075) $ (116,984)
December 31, 2022
Net settled
Forward exchange contracts $ (11,136) $ 11,994 $ -
Gross settled
Inflows $ 13,398,921 $ 4,688,786 $ 599,796
Outflows (13,310,433) (4,687,958) (534,354)
88,488 828 65,442
Swap contracts
Inflows 32,274,691 16,429,850 62,187,750
Outflows (31,891,439) (15,016,775) (59,838,031)
383,252 1,413,075 2,349,719
$ 471,740 $ 1,413,903 $ 2,415,161
- 114 -
On Demand or
Less than 3 Months to
1 Month 1 to 3 Months 1 Year
December 31, 2022
Net settled
Forward exchange contracts $ (362) $ 390 $ -
Gross settled
Inflows $ 436,021 $ 152,580 $ 19,518
Outflows (433,141) (152,553) (17,389)
2,880 27 2,129
Swap contracts
Inflows 1,050,266 534,652 2,023,682
Outflows (1,037,795) (488,668) (1,947,219)
12,471 45,984 76,463
$ 15,351 $ 46,011 $ 78,592
35. RELATED PARTY TRANSACTIONS
Balances and transactions within the Group had been eliminated upon consolidation. Details of transactions
between the Group and other related parties were disclosed as follows:
a. Related parties
In addition to those disclosed in Note 14, the related parties were as follows:
Related Parties Relationship with the Group
ASE Cultural and Educational Foundation Substantial related party

ASE Environmental Protection and Sustainability Substantial related party
Foundation
b. Contribution of related party

Relationship and Name
of Related Party 2020 2021 2022
Substantial related party

ASE Environmental
Protection and
Sustainability Foundation $ 100,000 $ 100,000 $ 100,000 $ 3,254
ASE Cultural and
Educational Foundation - 10,000 20,000 651
$ 100,000 $ 110,000 $ 120,000 $ 3,805
c. ASE and HC entered into a joint development agreement in June 2020 under the concept of joint
construction. The agreement stipulates that HC will build the plant on the leasehold land and ASE and
its affiliates will have the priority to purchase the plant after the completion of the plant construction.
The final transaction price will be the purchase price less an amount based on the ratio calculated by
independent professional appraisers.
- 115 -
d. ASE and ASEE entered into a joint construction and allocation of housing units agreement with HC,
respectively, in August 2021. The agreement stipulates that ASE and ASEE will provide land and
leasehold land and HC will provide fund for joint construction of plant and consult with professional
appraisal firm to evaluate the allocation ratio of the value under joint construction. After the completion
of the plant construction, ASE, ASEE and its affiliates will have the priority to purchase the property,
which obtained by HC based on the agreed proportion of joint construction. Since the joint construction
agreement between ASEE and HC has not yet started, therefore, the joint construction agreement was
terminated by mutual consent of both parties, and the board of directors of ASEE decided to terminate
the joint construction agreement in May 2022.
e. In the third quarter of 2021, ASE purchased real estate properties from HC with an amount of
NT$2,362,000 thousand (tax excluded) which was primarily based on the independent professional
appraisal reports and had been fully paid.
f. ASE entered into a joint construction and allocation of housing units agreement with HC in April 2022.
The agreement stipulates that ASE and HC will provide a part of land and fund, respectively, for joint
construction of plant and consult with professional appraisal firm to evaluate the allocation ratio of the
value under joint construction. After the completion of the plant construction, ASE will have the
priority to purchase the property, which obtained by HC based on the agreed proportion of joint
construction.
g. Compensation to key management personnel

2020 2021 2022
Short-term employee benefits $ 1,264,980 $ 1,744,903 $ 1,962,298 $ 63,856

Post-employment benefits 2,007 3,505 4,344 141
Share-based payments 153,774 163,697 445,287 14,490
$ 1,420,761 $ 1,912,105 $ 2,411,929 $ 78,487
The compensation to the Group’s key management personnel was determined according to personal
performance and market trends.
36. ASSETS PLEDGED AS COLLATERAL OR FOR SECURITY
The following assets were provided as collateral for bank borrowings, tariff guarantees of imported raw
materials or collateral:
December 31
2021 2022
Inventories related to real estate business $ 2,587,110 $ 2,627,606 $ 85,506

Property, plant and equipment 114,390 105,237 3,425
Investment properties 20,796,862 20,196,582 657,227
Other financial assets (including current and
non-current) 444,358 454,122 14,778
$ 23,942,720 $ 23,383,547 $ 760,936
- 116 -
37. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED COMMITMENTS
In addition to those disclosed in other notes, significant commitments and contingencies of the Group as of
each balance sheet date were as follows:
a. As of December 31, 2021 and 2022, unused letters of credit of the Group were approximately
NT$74,000 thousand and NT$579,000 thousand (US$18,842 thousand), respectively.
b. As of December 31, 2021 and 2022, letters of bank guarantee provided to customs for the import and
export of goods with bank facilities granted to the Group were approximately NT$738,628 thousand and
NT$622,539 thousand (US$20,258 thousand), respectively.
c. As of December 31, 2021 and 2022, the Group’s commitments to purchase property, plant and
equipment were approximately NT$52,678,554 thousand and NT$59,675,567 thousand (US$1,941,932
thousand), respectively, of which NT$3,761,120 thousand and NT$3,689,863 thousand (US$120,074
thousand) had been prepaid, respectively. As of December 31, 2021 and 2022, the commitment that the
Group has contracted for the construction related to real estate business were NT$59 thousand and nil,
respectively.
d. The Group entered into long-term purchase agreements of materials and supplies with multiple
suppliers. The relative minimum purchase quantity is specified in the agreements.
e. The Group entered into long-term agreements with multiple customers. The relative minimum order
quantity from customers and minimum purchase quantity of materials from suppliers are specified in the
agreements.
f. In December 2022, in consideration of corporate social responsibility, the board of directors of ASE
resolved the disbursements of NT$20,000 thousand (US$651 thousand) to ASE Cultural and
Educational Foundation for promoting the cultural and educational activities to fulfill the social
responsibilities.
g. In December 2013, in consideration of corporate social responsibility for environmental protection, the
board of directors of ASE, approved the contributions of at least NT$100,000 thousand (US$3,254
thousand) annually to be made in the next 30 years, with a total amount of at least NT$3,000,000
thousand (US$97,624 thousand), for promoting environmental protection efforts in Taiwan.
38. OTHERS
a. There were five employees and a waste disposal supplier of a subsidiary in China accused by China
People’s Procuratorate (the “Procuratorate”) for committing the crime of environmental pollution in
2018. During the trial, the Procuratorate claimed that the subsidiary should also be charged with
corporate crime which caused the subsidiary received a change and addition indictment in October
2019. In June 2020, in the first trial, the court of first instance ruled that the subsidiary shall be
imposed a fine of RMB400 thousand and return the benefit (RMB344 thousand) generated from such
violation. Both of the fine and the return of benefit from violation were recognized by the subsidiary
under the line item of other gains and losses. Because some of co-defendants have filed an appeal
against the judgment and, pursuant to local applicable law, the whole case were deemed appealed. On
April 7, 2021, the court of the second instance has issued a ruling to deny the appeal and to affirm the
judgment of the first instance, and the case has been concluded.
b. On December 20, 2013, the Kaohsiung Environmental Protection Bureau (the “KEPB”) imposed an
administrative fine of NT$102,014 thousand (the “Original Fine”) upon ASE for violation of the
Water Pollution Control Act. After ASE sought administrative remedies against the Original Fine, the
Original Fine has been revoked by final judgment of Supreme Administrative Court on June 8, 2017,
and KEPB is ordered to refund the Original Fine to ASE. On December 27, 2019, KEPB has refunded
- 117 -
NT$55,062 thousand to ASE. On February 10, 2020, KEPB re-imposed an administrative fine of
NT$46,952 thousand (the “New Fine”) upon ASE and offset the New Fine by the remaining amount
which shall be refunded to ASE. Therefore, no additional payment that ASE should make for the New
Fine. After ASE filed an administrative appeal against the New Fine, the Administrative Appeal
Review Committee of Kaohsiung City Government has revoked the New Fine on December 15, 2020
and remanded to KEPB for another legitimate administrative action.
39. SIGNIFICANT SUBSEQUENT EVENTS
On March 17, 2023, the board of director of USISH, resolved to establish a special purpose vehicle
(“SPV”) with a registered capital of US$53,000 thousand by its wholly-owned subsidiary, UGT, and an
unrelated party, Ample Trading, Co., Ltd. (“Ample Trading”), through a joint venture agreement. UGT will
obtain 75.1% ownership of the SPV and Ample Trading will obtain the remaining 24.9% ownership of the
SPV. The SPV will acquire the automotive wireless business (“Target Business”) of an unrelated party, TE
Connectivity Ltd., with an estimated value of US$48,000 thousand. The acquisition price will be paid by
cash, which will be adjusted for the net debt and net working capital of the Target Business on the
settlement date. The transaction is subject to the approvals from the respective countries where the Target
Business will operate in.
40. SIGNIFICANT ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES
The following information was aggregated by the foreign currencies other than functional currencies of the
group entities and the exchange rates between foreign currencies and respective functional currencies were
disclosed. The significant financial assets and liabilities denominated in foreign currencies were as follows:
Foreign Carrying
Currencies Amount
(In Thousand) Exchange Rate (In Thousand)
December 31, 2021
Monetary financial assets

US$ $ 4,885,163 US$1=NT$27.68 $ 135,221,324
US$ 1,718,314 US$1=RMB6.3757 47,562,940
US$ 42,250 US$1=EUR0.8829 1,169,492
JPY 12,584,942 JPY1=NT$0.2405 3,026,677
JPY 551,496 JPY1=US$0.0087 132,635
Monetary financial liabilities

US$ 4,899,633 US$1=NT$27.68 135,621,853
US$ 1,503,606 US$1=RMB6.3757 41,619,803
US$ 88,741 US$1=EUR0.8829 2,456,363
JPY 14,078,075 JPY1=NT$0.2405 3,385,776
JPY 990,667 JPY1=US$0.0087 238,255
December 31, 2022
Monetary financial assets

US$ 5,602,783 US$1=NT$30.71 172,061,459
US$ 1,517,342 US$1=RMB6.9646 46,597,573
US$ 24,066 US$1=EUR0.9376 739,064
JPY 8,599,044 JPY1=NT$0.2324 1,998,417
JPY 410,433 JPY1=US$0.0076 95,385
(Continued)
- 118 -
Foreign Carrying
Currencies Amount
(In Thousand) Exchange Rate (In Thousand)
Monetary financial liabilities
US$ $ 5,539,862 US$1=NT$30.71 $ 170,129,161
US$ 1,361,060 US$1=RMB6.9646 41,798,164
US$ 56,203 US$1=EUR0.9376 1,725,989
JPY 10,093,229 JPY1=NT$0.2324 2,345,666
JPY 343,989 JPY1=US$0.0076 79,943
(Concluded)
The significant realized and unrealized foreign exchange gain (loss) were as follows:

2020 2021 2022
Net Foreign Net Foreign
Functional Exchange Gain Exchange Gain Net Foreign
Currencies Exchange Rate (Loss) Exchange Rate (Loss) Exchange Rate Exchange Gain (Loss)
US$ US$1=NT$28.48 $ (143,804 ) US$1=NT$27.68 $ 132,582 US$1=NT$30.71 $ (347,044 ) $ (11,293 )

NT$ 1,382,067 1,413,969 (2,985,318 ) (97,147 )
RMB RMB1=NT$4.3648 (181,624 ) RMB1=NT$4.3415 (85,675 ) RMB1=NT$4.4094 921,898 30,000
$ 1,056,639 $ 1,460,876 $ (2,410,464 ) $ (78,440 )
41. OPERATING SEGMENTS INFORMATION
The Group has the following reportable segments: Packaging, Testing and EMS. The Group packages bare
semiconductors into finished semiconductors with enhanced electrical and thermal characteristics; provides
testing services, including front-end engineering testing, wafer probing and final testing services; engages
in the designing, assembling, manufacturing and sale of electronic components and telecommunications
equipment motherboards. Information about other business activities and operating segments that are not
reportable are combined and disclosed in “Others.” The Group engages in other activities such as substrate
production as well as sale and leasing of real estate properties.
The accounting policies for segments are the same as those described in Note 4. The measurement basis for
resources allocation and performance evaluation is based on profit before income tax.
a. Segment revenues and operation results

Adjustments
Packaging Testing EMS Others and Eliminations Total
Revenue from external customers $ 218,666,071 $ 47,271,074 $ 204,690,669 $ 6,350,896 $ - $ 476,978,710

Inter-group revenues (Note 1) 10,436,168 435,587 21,472,775 7,234,303 (39,578,833 ) -
Segment revenues 229,102,239 47,706,661 226,163,444 13,585,199 - 516,557,543
Interest income 133,160 79,821 275,766 32,036 - 520,783
Interest expense (2,244,280 ) (564,269) (443,519 ) (185,160 ) - (3,437,228 )
Depreciation and amortization (32,333,229 ) (14,189,024 ) (2,877,546 ) (1,859,266 ) - (51,259,065 )
Share of the profit or loss of associates and
joint ventures 362,133 99,670 85,809 - - 547,612
Impairment loss (218,600 ) (773,673 ) - - - (992,273 )
Segment profit before income tax 17,476,440 10,277,760 8,438,766 (424,168 ) - 35,768,798
Expenditures for segment assets 38,643,303 14,275,397 5,614,409 491,092 - 59,024,201
December 31, 2020
Investments accounted for using the equity

method 9,146,344 1,340,307 2,320,022 - - 12,806,673
Contract assets 3,641,244 1,141,660 - - - 4,782,904
(Continued)
- 119 -
Adjustments
Revenue from external customers $ 272,543,899 $ 49,978,736 $ 239,488,267 $ 7,986,231 $ - $ 569,997,133

Interest income 61,141 88,874 301,072 91,242 - 542,329
Interest expense (1,604,107 ) (405,648 ) (629,584 ) (159,596 ) - (2,798,935 )
joint ventures 737,650 66,107 95,943 - - 899,700
Impairment loss (86,997 ) (39,769 ) - - - (126,766 )
Segment profit before income tax 41,581,126 11,998,938 8,528,675 18,085,030 - 80,193,769
Expenditures for segment assets 48,531,368 16,773,513 7,654,560 1,458,100 - 74,417,541
December 31, 2021

method 12,744,756 1,896,372 2,355,472 - - 16,996,600
Contract assets 4,735,181 872,028 - - - 5,607,209
Revenue from external customers 303,947,502 55,960,182 301,966,818 8,998,141 - 670,872,643

Interest income 109,148 84,562 418,507 42,530 - 654,747
Interest expense (2,150,382 ) (463,043 ) (1,029,128 ) (346,581 ) - (3,989,134 )
joint ventures 779,474 81,627 324,276 - - 1,185,377
Impairment loss (64,257 ) (105,169 ) (219,349 ) - - (388,775 )
Segment profit before income tax 51,824,438 14,626,156 14,368,179 944,855 - 81,763,628
Expenditures for segment assets 45,936,563 21,765,965 6,188,401 1,909,645 - 75,800,574
December 31, 2022

method 10,341,203 1,643,940 2,694,203 - - 14,679,346
Contract assets 4,869,541 861,632 - - - 5,731,173
(Concluded)
Adjustments
Revenue from external customers $ 9,890,905 $ 1,821,028 $ 9,826,450 $ 292,813 $ - $ 21,831,196

Inter-group revenues (Note 1) 225,867 17,064 1,156,304 295,481 (1,694,716 ) -
Segment revenues 10,116,771 1,838,092 10,982,754 588,294 - 23,525,911
Interest income 3,551 2,752 13,619 1,384 - 21,306
Interest expense (69,977 ) (15,068 ) (33,489 ) (11,278 ) - (129,812 )
Depreciation and amortization (1,090,444 ) (484,931 ) (151,461 ) (77,651 ) - (1,804,487 )
joint ventures 25,365 2,656 10,553 - - 38,574
Impairment loss (2,092 ) (3,422 ) (7,138 ) - - (12,652 )
Segment profit before income tax 1,686,445 475,957 467,562 30,747 - 2,660,711
Expenditures for segment assets 1,494,844 708,297 201,380 62,143 - 2,466,664
December 31, 2022

method 336,518 53,496 87,674 - - 477,688
Contract assets 158,462 28,039 - - - 186,501
Note 1: Inter-group revenues were eliminated upon consolidation.
Note 2: The disaggregated product and service type from the Group's contract with customer is the
same as those disclosed in above reportable segment.
b. Revenue from major products and services

2020 2021 2022
Packaging service $ 218,666,071 $ 272,543,899 $ 303,947,502 $ 9,890,905

Testing service 47,271,074 49,978,736 55,960,182 1,821,028
EMS 204,690,669 239,488,267 301,966,818 9,826,450
Others 6,350,896 7,986,231 8,998,141 292,813
$476,978,710 $569,997,133 $670,872,643 $ 21,831,196
- 120 -
c. Geographical information
The Group’s revenue from external customers by location of headquarter and information about its non-
current assets by location of assets are detailed below.
1) Net revenues from external customers

2020 2021 2022
United States $ 297,117,001 $ 353,500,361 $ 446,484,639 $ 14,529,276

Taiwan 64,829,301 94,598,067 83,655,142 2,722,263
Asia 74,447,091 62,523,167 75,991,902 2,472,890
Europe 39,477,306 57,910,641 63,542,468 2,067,767
Others 1,108,011 1,464,897 1,198,492 39,001
$476,978,710 $569,997,133 $670,872,643 $ 21,831,196
2) Non-current assets
December 31
2021 2022
Taiwan $ 252,525,376 $ 268,036,245 $ 8,722,299

China 65,375,423 69,283,739 2,254,596
Others 34,702,992 40,537,349 1,319,146
$ 352,603,791 $ 377,857,333 $ 12,296,041
Non-current assets exclude financial instruments, post-employment benefit assets, and deferred tax
assets.
d. Major customers
Except one customer from which the operating revenues generated from packaging and EMS segments
were NT$145,952,908 thousand, NT$158,624,032 thousand and NT$198,858,465 thousand
(US$6,471,151 thousand) for the years ended December 31, 2020, 2021 and 2022, respectively, there
was no other operating revenues from a single customer accounting for more than 10% of the Group’s
operating revenues for the years ended December 31, 2020, 2021 and 2022.
- 121 -

ASE Technology Holding Co., Ltd. and Subsidiaries

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ASE Technology Holding Co., Ltd.

To the shareholders and the Board of Directors of

Opinion on the Financial Statements

Basis for Opinion

Critical Audit Matter

Critical Audit Matter Description

How the Critical Audit Matter Was Addressed in the Audit

/s/ Deloitte & Touche

We have served as the Group’s auditor since 1984.

To the Board of Directors and Shareholder of

Opinion on the Financial Statements

Basis for Opinion

/s/ PricewaterhouseCoopers, Taiwan

We served as the Company's auditor from 1994 to 2022.

December 31, 2021 December 31, 2022

Total non-current assets 380,908,171 407,222,618 13,251,631

TOTAL $ 673,265,899 $ 707,589,842 $ 23,026,029

December 31, 2021 December 31, 2022

For the Year Ended December 31

Total non-operating income and

For the Year Ended December 31

$ 28,651,900 $ 62,249,997 $ 64,618,094 $ 2,102,770

$ 29,147,213 $ 62,656,013 $ 73,250,566 $ 2,383,683

Equity Attributable to Owners of the Company

Equity Attributable to Owners of the Company

Buy-back of ordinary shares - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ (5,529,255 ) $ (5,529,255 ) $ - $ (5,529,255 )

For the Year Ended December 31

CASH FLOWS FROM OPERATING

For the Year Ended December 31

CASH FLOWS FROM INVESTING

Net cash used in investing activities (60,946,303 ) (49,091,569 ) (73,951,874 ) (2,406,504 )

CASH FLOWS FROM FINANCING

Net cash used in financing activities (21,995,344 ) (5,870,846 ) (62,458,806 ) (2,032,503 )

For the Year Ended December 31

EFFECTS OF EXCHANGE RATE

NET INCREASE (DECREASE) IN CASH

CASH AND CASH EQUIVALENTS AT

CASH AND CASH EQUIVALENTS AT

2. APPROVAL OF FINANCIAL STATEMENTS

3. APPLICATION OF NEW AND REVISED INTERNATIONAL FINANCIAL REPORTING

Amendments to IAS 1 “Disclosure of Accounting Policies” January 1, 2023 (Note 2)

1) Amendments to IAS 1 “Disclosure of Accounting Policies”

2) Amendments to IAS 8 “Definition of Accounting Estimates”

4) Amendments to IAS 1 “Classification of Liabilities as Current or Non-current” (referred to as the

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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

c. Classification of current and non-current assets and liabilities

1) Principles for preparing consolidated financial statements

2) Subsidiaries included in consolidated financial statements were as follows:

ASE Test, Inc. Engaged in the testing of R.O.C. 100.0 100.0

ASTEELFLASH (BEDFORD) Engaged in the design and United Kingdom - 100.0

g. Inventories and inventories related to real estate business

h. Investments in associates and joint ventures

i. Property, plant and equipment

Freehold land is not depreciated.

Depreciation is recognized using the straight-line method.

l. Other intangible assets

2) Acquired through business combinations

i. Financial asset at FVTPL