Annual: Service With Passion

2021 Annual
Report
SERVICE WITH PASSION
Board Members
Position Name Nationality Experience and Education
Executive Authorized ROC Master of Science, Sloan School of Management, MIT, USA
Chairman Representative of 1. 1999~ 2000 Secretary General of the Office of the Chairman of Chailease
Chun An Investment Group
Co., Ltd. 2. 2002 ~ 2013 President of Chailease Finance Co., Ltd. ( As Division Head of
Fong-Long Chen Information Technology from 2006/02 ~2008/12 )
3. 2007~ 2013 CEO of Financial One Corp.
4. 2011~till now Chairman and President of the Company
5. 2007~till now Chairman of Chailease Finance Co., Ltd.
6. 2011~till now Chairman of Fina Finance & Trading Co., Ltd.
7. 2007~till now Chairman of Chailease International Finance Corporation
8. 2015~till now Chairman of Chailease Energy Integration Co., Ltd.
9. 1999~till now Director of Asia Sermkij Leasing Public Company Limited
10. 1999~till now Director of Bangkok Grand Pacific Lease Public Company
Limited
11. 2007~2019 Chairman of The Taipei Leasing Association
12. 2005~ till now Vice Chairman of Asian Leasing & Finance Association
Director Authorized ROC MBA, Leonard N. Stern School of Business, NYU, USA
Representative of 1. 1997~1998 Chief Secretary of Chailease Group
Chun An Investment 2. 1998~2003 Executive Vice President of Chailease Finance Co., Ltd.
Co., Ltd Andre J.L. Koo 3. 2000~2003 CEO of Chailease Group
4. 2000~2007 President and CEO of My Funding
5. 2003~till now President of Chailease Group
6. 2007~2011 Chairman of Financial One Corp.
7. 2009~2013 Chairman of Chailease Holding Company Limited
8. 2013~till now Director and Chairman of the Management Committee of
the Company
Director Chee Wee Goh Singapore Bachelor of Science ( First Class Honours ), University of Singapore Master
of Science in Engineering, University of Wisconsin, USA Diploma in Business
Administration, University of Singapore
1. 1969~1980 Singapore Institute of Standards and Industrial Research,
Divisional Director.
2. 1981~1993 National Trades Union Congress, Deputy Secretary General
3. 1993~1997 Ministry of Trades and Industry, Communications and Labour,
Minister of State
4. 1997~2003 Comfort Group Ltd, Chief Executive Officer and Managing
Director
Director Authorized ROC EMBA, National Taiwan University
Representative of 1. 2011~till now Director and Chief Human Resources Officer of the
Chun An Technology Company (As Director from 2017/08)
Co., Ltd. 2. 2005~till now Director and Chief Human Resource Officer of Chailease
Hsiu-Tze Cheng Finance Co., LTD
3. 2005~till now Chief Human Resource Officer of Chailease International
Leasing Co., Ltd.
4. 2016~till now Director of Fina Finance & Trading Co., Ltd.
5. 2017~till now Chairman of Chailease Royal Leasing Plc.
6. 2018~till now Chairman of Chailease Royal Finance Plc
7. 2017~till now Chairman of Chailease Berjaya Finance Corporation
Director Authorized ROC MBA, Leonard N. Stern School of Business, NYU, USA
Representative of Hong Kong 1. 1996~2005 Partner of AIF Capital
Chun An Technology 2. 2005~2006 CFO of Petrolom Energy
Co., Ltd. 3. 2008~2010 Advisor of Matlin Patterson Global Distress Fund
King Wai Alfred Wong
Director Authorized ROC Master Degree in International Affairs, NCCU
Representative of 1. 1971~2010 Investigator of Ministry of Justice Investigation Bureau
Li Cheng Investment 2. 2010~2012 Deputy director of Ministry of Justice Investigation Bureau
Co., Ltd. 3. 2012~2013 Executive consultant of Chailease Construction and
Chih-Yang Chen Development Corp
4. 2014~ till now Chairman of Chailease Construction and Development
Corp
Position Name Nationality Experience and Education
Chailease Holding Company Limited

Independent Steven Jeremy Australia MBA from Nanyang Technological University, Singapore Law Degree LLB
Director Goodman from Manchester University, England
Passed the Solicitors Finals Examinations from the College of Law, Law
Society of England and Wales (with Honours)
Passed the Overseas Lawyers Qualification Examination, Hong Kong Law
Society
1. 1990~1996 Berwin Leighton, Partner
2. 1996~2003 Denton Wilde Sapte, Partner
3. 2003~2004 Jones Day, Partner
4. 2005~2009 Responze TV PLC, Executive Chairman
5. 2007~2011 Financial One Corp, Independent Director
Independent Ching-Shui Tsou ROC Master in Economics, Soochow University, Taiwan
Director 1. 1984 ~ 2019 Senior Specialist of the Investment Commission, Ministry of
Economic Affairs, R.O.C.
Independent Casey K. Tung USA Master of Science in Business Administration, California State University,
Director Long Beach, U.S.A.
Bachelor of Commerce, Soochow University, Taiwan
1. Certified Public Accountant, California, U.S.A.
2. Principal of Casey K. Tung CPA office since 1990
1
CONTENTS
06 Address of Subsidiaries
07 I. Letter to Shareholders
10 II. Introduction of the Company
10 (1) Date of establishment
10 (2) History of the Company
12 III. Corporate Governance Report

12 (1) Organization
15 (2) Information regarding the Board of Directors
and management team
32 (3) Corporate governance practices
66 (4) Information regarding certified public
accountant
67 (5) Shareholding Transferred or Pledged
by Directors, Management, and Major
Shareholders Who Holds 10% of the
Company Shares or More
69 (6) Relationship Between Top Ten Shareholders
Defined as Related Parties, Spouse or a
Relative within Two Degrees as defined
under the Statement of Financial
Accounting Standards No.6
70 (7) Long term investment ownership (controlled
either directly or indirectly) by the company,
its directors and supervisors
73 (8) Situation of company managers
participating in corporate governance
learning and training
74 (9) Continuing educational training of the
Directors and independent Directors
75 (10) Certification details of employees
whose jobs are related to the release of the
company's financial information
75 (11) Working environment and employee safety
protection
76 IV. Capital and Shares

76 (1) Capitalization
76 (2) Composition of Shareholders
77 (3) Distribution profile of share ownership
78 (4) Major Shareholders
78 (5) Market price, net worth, earnings, and
dividends per share for the past two
years
2
79 (6) Dividend policy and distribution of 250 VII. Review and Analysis of the Financial
profit
79 (7) Effect upon business performance and Condition,Performance and Risk
earnings per share of any stock dividend Management
distribution proposed or adopted at the 250 (1) Review and analysis of Financial status
most recent shareholders' meeting 251 (2) Review and analysis of Financial
80 (8) Employee profit sharing and Directors' and performance
supervisors' compensation 251 (3) Review and analysis of Cash Flow
80 (9) Buyback of common stock 251 (4) Major Capital expenditures in recent years
81 (10) Issuance of corporate bonds and impacts on financial and operational
91 (11) Issuance of Preferred stock situations
92 (12) Issuance of global depositary shares 252 (5) Investment Policies and Results in recent
92 (13) The information on employee share years
subscription warrants 254 (6) Risk Management Framework & Policy
92 (14) The information on issuance of new shares 256 (7) Information Security and Personal
in connection with mergers or acquisitions Information Protection
or with acquisitions of shares of other 264 (8) Sources of Risks and Evaluations
companies
93 (15) Financing plan and implementation 269 VIII. Special notes
267 (1) Information about the affiliates
96 V. Operational Highlights 283 (2) Private Placement Securities in 2019
96 (1) Business Overview and as of the Date of this Annual Report
105 (2) Market and Sales Overview 283 (3) The Company's Shares Held or Disposed
110 (3) Head count, average seniority, average by Subsidiaries in Recent Years until the
age and educational background Annual Report being Published
of employees in the recent two years and 283 (4) Statement of Company Operating
as of the publication date of the annual Procedures for Handling Internal Material
report Information
111 (4) Information on environmental protection
expenditures 283 IX. Pursuant to the Article 36-3-2
111 (5) Labour Relations of Security Exchange Act, Event
114 (6) Cyber Security Management
117 (7) Important Contract
Having Material Impact on
Shareholder's Equity or Share Price
132 VI. Financial Highlights
132 (1) Condensed financial reports for the past in the Latest Year until the Annual
five fiscal years Report being Published
134 (2) Financial analysis for the past five fiscal
years 284 X. Major differences in the Company's
135 (3) Key Performance articles of association and ROC
136 (4) Audit committee's report on financial
statements from the most recent year regulations on shareholders' equity
137 (5) Financial Report (Attachment) protection
137 (6) Impact of the financial distress occurred
to the company and affiliates in recent
years until the annual report being
published
3
A supporting partner
of our customers,
a driving force of
economic success
4
5
Address of Subsidiaries
Taiwan (R.O.C.) Vietnam

■ Chailease Finance Co., Ltd. ■ Chailease International Leasing Co., Limited
8F. to 12F., No.362, Ruiguang Rd., Neihu Dist., Taipei City 114, 28F., Saigon Trade Center, 37 Ton Duc Thang St., Ben Nghe
Taiwan (R.O.C.) Ward, District 1, Ho Chi Minh City, Vietnam
+886-2-8752-6388 +84-28-7301-6010
www.chailease.com.tw www.chailease.com.vn
■ Fina Finance & Trading Co., Ltd. ■ Chailease International Trading Company Limited
3F., No.360, Ruiguang Rd., Neihu Dist., Taipei City 114, Taiwan 28F., Saigon Trade Center, 37 Ton Duc Thang St., Ben Nghe
(R.O.C.) Ward, District 1, Ho Chi Minh City, Vietnam
+886-2-8797-6168 +84-28-3910-1518
www.chailease.com.tw www.chaileasetrade.com.vn
■ Chailease Consumer Finance Co., Ltd.

6F., No.392, Sec. 1, Neihu Rd., Neihu Dist., Taipei City 114, Malaysia
Taiwan (R.O.C.) ■ Chailease Berjaya Credit Sdn. Bhd.
+886-2-2798-6488 A-11-01, Level 11, Block A, PJ8, No.23 Jalan Barat, Seksyen 8,
www.chailease.com.tw 46050 Petaling Jaya, Selangor, Malaysia
+60-3-7666-0888
■ Chailease Auto Rental Co., Ltd.
5F., No.362, Ruiguang Rd., Neihu Dist., Taipei City 114, Taiwan www.chailease.com.my
(R.O.C.)
+886-2-8752-6388 Cambodia
www.rentalcar.com.tw ■ Chailease Royal Leasing Plc.
3F, No.216B, Norodom Blvd(41), Sangkat Tonle Basak, Khan
■ Chailease Insurance Brokers Co., Ltd.
6F., No.362, Ruiguang Rd., Neihu Dist., Taipei City 114, Taiwan Chamkar Mon, Phnom Penh, Cambodia
(R.O.C.) +855-23-901-728
+886-2-8752-6388 www.chaileaseholding.com.kh
www.chailease.com.tw ■ Chailease Royal Finance Plc.
■ Chailease Energy Integration Co., Ltd. Keystone Building, 12F, No. 146, Preah Norodom Blvd,
5F., No.362, Ruiguang Rd., Neihu Dist., Taipei City 114, Taiwan Sangkat Tonle Bassak, Khan Chamkar Mon, Phnom Penh,
(R.O.C.) Cambodia
+886-2-8752-6388 +855-23-973-328
www.chailease.com.tw www.chaileaseholding.com.kh
China Philippines
■ Chailease International Finance Corporation ■ Chailease Berjaya Finance Corporation
Building 1, Lane 631, Jinzhong Rd., Changning District, 5F, 45 San Miguel Building, San Miguel Ave., Ortigas Center,
Shanghai, PRC Pasig City, Metro Manila, Philippines
+86-21-5208-0101 +63-2723-6388
www.chailease.com.cn www.chailease.com.ph
■ Chailease International Corp.

Building 1, Lane 631, Jinzhong Rd., Changning District, United States
Shanghai, PRC ■ Grand Pacific Financing Corporation
+86-21-5208-0101 901 Corporate Center Drive, #300, Monterey Park, CA 91754,
U.S.A.
■ Chailease Finance International Corp. +1-323-780-8881
Airport Business Park W13-401, No.76, Huan He North Road,
www.gpusa.com
Airport Industrial Area, Tianjin, PRC
+86-22-8486-1168
Indonesia
Thailand ■ PT Chailease Finance Indonesia
Wisma 46, 28th Floor, Jl. Jenderal Sudirman Kav. 1, Kel. Karet
■ Asia Sermkij Leasing Public Co., Ltd.
Tengsin, Kec. Tanah Abang, Jakarta Pusat 10220, Indonesia
24F., Sathorn City Tower, 175 South Sathorn Road,
+62-21-2509-6888
Tungmahamek, Sathorn, Bangkok 10120, Thailand
+66-2-679-6226 www.chailease.co.id
www.ask.co.th
■ Bangkok Grand Pacific Lease Public Co., Ltd.
10/1F., Sathorn City Tower, 175 South Sathorn Road,
Tungmahamek, Sathorn, Bangkok 10120, Thailand
+66-2-679-6226
6
I. Letter to Shareholders
2021 Business Report

In 2020, the Covid-19 pandemic spread around the world. With the emergence of Delta, Omicron, and other variants, the
Covid-19 pandemic has continued to impact the global economy. Three major global organizations: World Bank, IMF, and

OECD remain wary and have downgraded their outlooks for the global economy in 2022, with growth moderating to 4.3%
~ 4.9%.
Responding to the Pandemic's Challenges

Chailease Holding Company established a comprehensive crisis management system and epidemic prevention
mechanisms at the start of the pandemic, ensuring that we are able to rapidly adapt our organization's operations and
how our employees work. In response to the pandemic, we've also implemented work from home by stage or by project
for some employees to lower as well as diversify operational risk for the company.
With these measures, Chailease Holding Company's domestic and international offices have been able to respond rapidly
to the pandemic's ebbs and flows. The biggest changes that Chailease Holding Company welcomed during the pandemic
were our successful digital transformation and effective remote work strategy. Even though the pandemic has been going
back and forth and there are still many uncertainties in the current landscape, Chailease Holding Company has been
fortunate to maintain positive sales growth during these trying times thanks to our hardworking employees.
Our consolidated revenue of 2021 totaled NT$72.16 billion, a 21% growth from the previous year. Revenue in the three
major markets in 2021, Taiwan, Mainland China, and ASEAN increased by 22%, 22%, and 18%, respectively, over the
previous year. The consolidated net profit totaled NT$21.644 billion, a 28% growth from 2020. Our EPS reached NT$14.80
and profits in Taiwan, Mainland China, and ASEAN increased by 26%, 45%, and 68%, respectively, over the previous year.
Sustainable Operations
In accordance with sustainable mindsets, we've integrated Environmental, Social and Governance (‘ESG') into our
management strategies to extend our scope of influence. This includes issuing green bonds and providing a sustainable-
index-linked commercial promissory note to fund green energy projects. To exert influence of upstream and downstream
industries, we've also added ESG criteria when selecting customers and partners.
Chailease Holding Company received international honors in the areas of ESG. We were selected, for the second
consecutive year, by the Dow Jones Sustainability Index, DJSI, as a constituent stock of both the "DJSI World Index" and
"DJSI Emerging Markets Index". The S&P Global Inc. has also, again for the second consecutive year, given Chailease
Holding Company the award of the Global Bronze Class Award in the category of Diversified Financial Services and Capital
Markets in S&P Global Inc.'s 2022"The Sustainably Yearbook." We have been selected as a constituent stock of the Morgan
Stanley MSCI Global Sustainability Indexes for seven consecutive years.
We've also received many honors domestically. In 2021, we were listed as one of the top 20 international Taiwanese
brands by the Taiwan International Brand Award for the 8th consecutive year, ranked in the top 5% in the Corporate
Governance Evaluation of TWSE/TPEx listed companies for the sixth time, selected as a constituent stock for FTSE4Good
Index for three consecutive years, and selected for the Taiwan Corporate Governance 100 Index for seven consecutive
years.
Sustainable Talent Development

Over the past 45 years, Chailease Holding Company has consistently invested in talent cultivation in response to our
growing scale and demand for talents, implementing diverse talent development projects to make human resources one
of our core areas of competitiveness. We've proudly participated in the Association for Talent Development's Excellence in
Practice Award competition for many years and have won four awards.
To connect with the global market, Chailease Holding Company launched its Asian Pacific Management Associate (MA)
Program in 2013. As we welcome the program's 10th-year anniversary, we decided to expand and launched four major
talent development projects: the Asian Pacific Management Associate Program recruits and trains high-potential talents
for Chailease Holding Company as management trainees for overseas offices to help us expand the overseas market; the
7
Greater ASEAN Internship and Employment Program offers internships to ASEAN students in Taiwan and encourages
them to stay in Taiwan or return to their countries for work after graduation; the International Talent Program targets
back-office employees that help our ASEAN subsidiaries grow to enable high performances in their respective positions;
and the Chailease Talent Development Program gives our employees the opportunity to apply to work domestically or
overseas given a set of criteria, offering them the chance to achieve their own career goals.
We also believe that, in response to the evolving products and services at Chailease Holding Company, the next
generation of talent must have diverse capabilities across various fields and disciplines, including engineering
management talent for our solar power plants, digital skill talent for online products, etc. We will continue striving to fulfill
our "TALENT, in Taiwan" commitment.
2022 Strategies
We anticipate slower economic growth in 2022. As such we will be adopting two established management strategies:
"product differentiation" and "product localization" to strengthen our presence in overseas markets.
For "product differentiation," we aim to uncover niche markets through product differentiation, dedicating ourselves to
maximizing our presence in each niche market and aggregating results across multiple niche markets to generate real
financial results. In other words, we will strive to evolve, perfect, strengthen, and improve our products in SME financing,
small automobiles, trucks, planes, ships, consumer financing, fishery financing, and solar power plant financing and
investing from existing services and become the industry benchmark.
For "product localization," we aim to drive growth momentum by offering quick customer service, from point to service,
and integrating the upstream and downstream industry chain. In 2022, we plan to strengthen our presence in Wuhan,
Wuxi, Fuzhou, and Qingdao by adding new service locations. In the ASEAN market, we are also planning to start offices
in Chachoengsao Province (Thailand), Nghe An (Vietnam), Ha Tinh (Vietnam), Binh Dinh (Vietnam), Khanh Hoa (Vietnam),
Kuala Terengganu (Malaysia), Sabah (Malaysia), and Sarawak (Malaysia). We estimate that we will have 124 service
locations in Taiwan and beyond by the end of 2022.
Strengthening Consumer Financing

The pandemic has changed the world's economic structure and consumer landscape. In the midst of change, one of the
major strategies that Chailease Holding Company has implemented is to expand on the company's consumer financing
business, which includes establishing a common version of the consumer financing application and resource sharing
operation platform.
Established in 2000, Chailease Consumer Finance Co. has focused its core business on consumer financing services and is
the prototype for our consumer financing reference design. Through offline channels, Chailease Consumer Finance has
been able to strengthen its presence in the consumer installment loan markets and has accumulated millions of offline
consumers. In 2018, to transition its consumer finance services online, the Company launched "0Card," a "buy now, pay
later" card-free online payment system. The Company continued to expand into the "low price high volume" consumer
segment and diverse spending scenarios, hoping to develop partners in different industries. By the end of 2021, Zero
Card( 0card) had 740,000 online members and 40,000 online vendors. Looking ahead, we expect online members to reach
1 million and registered online vendors to reach 100,000 in 2023.
The Zero Card (0card) brand launched in Taiwan is a paradigm that we will use to build a standardized, institutionalized,
and systematic digital tool for consumer financing products. Our next step will be to replicate the success at ASEAN
subsidiaries through reference designs and resource sharing, systematically helping all subsidiaries launch consumer
financing products. In the future, we also hope to expand into Mainland China's financing sector and Taiwan's corporate
financing sector.
8
Growing Green Energy
With the global net zero carbon trend, Chailease Holding Company has long been spotlighting energy conservation and
environmental protection in SMEs and using renewable energies to support environmental and industrial sustainability.

In 2010, Chailease Holding Company launched an ESCO financing service, which has ushered in a new era of solar power
plant financing and roof-type solar panel factories.
In 2015, we established Chailease Energy Development Corporation to transition our role from power plant financers to
investors, focusing on developing small and large ground-mounted solar panels as well as a comprehensive solar power
plant industry chain. By 2018, Chailease Energy Development Corporation was already the leading investor in Taiwan's
photovoltaic industry. As of the end of 2021, Chailease Energy Development Corporation owned 2,655 solar power plants
that generated a total of 918MW.
Chailease Holding Company is committed to developing renewable energies and pursuing sustainable development. We
started to support green industries by financing and then building solar power plants, and gradually entered the energy
storage and selling market. We recognize that Electric Vehicles will become increasingly prevalent and are also investing
in the charging station industry. We aim to connect the green energy sector's value chain to create a market advantage
for the benefit of many stakeholders.
Expanding Insurance Brokerage Business

Insurance brokerage is an asset-light business and one of Chailease Holding Company's most valuable products. In both
Taiwan and beyond, we hope to capitalize on existing sales organizations, sales personnel, customers, and sales channels
from our manufacturing equipment insurance and auto insurance products by promoting credit insurances and life
insurances. By expanding how we serve our customers, we can create more value for our products and enable synergy.
The success of our Taiwan and Thailand subsidiaries in promoting insurance products can serve as a reference to other
subsidiaries, allowing them to replicate the success. Looking into the future, we aim to accelerate the expansion of our
insurance brokerage businesses and develop it into one of the group major sources of profit.
In the new year of 2022, Chailease Holding Company will maintain clear targets, strong management, and consistent
innovation moving forward. We will stay optimistic and expectant while acting cautiously and strive to create maximum
value for all our shareholders.
Wishing you health and prosperity.
Fong-Long Chen,
Chairman
9
II. Introduction of the Company
(1) Date of establishment:

Chailease Holding Company Limited (hereinafter referred to as the "Company") was founded on December 24,
2009 under the company act of Cayman Islands. The core business of the Company is to provide diverse financial
services to SMEs, including leasing, installment sales, factoring and direct financing. As a professional financial
service company, we currently have operations in Taiwan, PRC, Thailand, Vietnam, Malaysia, Cambodia, Philippines,
Indonesia and USA.
(2) History of the Company:

The Company commenced operations in Taiwan in 1977 under the name of China Leasing Company Limited
("China Leasing") and initially provided asset-based financing. China Leasing initially provided primarily asset-
backed financing to companies in heavy industries to help them acquire manufacturing machinery and equipment
and upgrade their manufacturing facilities. In 1980, China Leasing established CITC Co., Ltd. ("CITC") to specialize
in installment sales. In 1995, China Leasing merged with CITC and CITC changed its name to Chailease Finance Co.
Ltd. ("Chailease Finance") in order to increase the competiveness with international large-sized financial leasing
companies abroad and strengthen the ability to raise funds. In 1999, the excellent management team led the
Company to begin the project of business process improvement, actively promote various innovation projects
and lay a solid foundation for a great leap into becoming a world financial company. The Company has taken the
lead in joining international organizations such as the American Leasing Association, Asian Leasing Association,
International Finance and Leasing Association and Factors Chain International since its establishment to provide
customers with international-quality professional service and continuously absorbs the latest knowledge and
technology from financial related business in advanced countries, such as Europe, America and Japan to maintain
our professional advantage among competitors. Meanwhile, we founded the Taipei Leasing Association to provide
a platform for members to exchange ideas, knowledge, experience and information, all of which will be of mutual
benefits to the parties concerned.
In 2007, Chailease Finance exchanged 100% of its shares with Financial One Corp. and became the subsidiary of
Financial One Corp., which was listed in the Singapore Stock Exchange on July 11, 2007. Financial One Corp. was the
first Taiwan-based financial enterprise that was successfully listed on the Singapore Stock Exchange.
To integrate the operations in Asia, Chailease Holding Company Limited was incorporated under the laws of the
Cayman Islands in 2009 and the project of reorganization was launched. Financial One Corp. was voluntarily delisted
from the Singapore Stock Exchange on April 27, 2011 and transferred the shares of the Company to its shareholders
on the same day. Upon the completion of the shares transfer, the former shareholders of Financial One Corp. came
to hold shares of the Company directly. The Company's shares were traded in the over-the-counter stock market of
the ROC since July 11, 2011. On December 13, 2011, the Company was successfully listed on the TWSE.
■ Diversification
Under the guidance of multi-dimensional strategies, the subsidiaries that specialize in the niche market have been
established in Taiwan continuously, including Fina Finance & Trading Co., Ltd., Chailease Consumer Finance Co., Ltd.,
Chailease Auto Rental Co., Ltd., Chailease Insurance Brokers Co., Ltd. and Chailease Cloud Service Co., Ltd. To extend
the value chain of green energy business, Chailease Finance acquired 100% of Yun Tang Inc. in 2014, and established
General Energy Solutions Co. Ltd., in 2015. Based on the competitive advantage of leasing and installment sales
business, we aim to assist clients in implementing energy saving and production projects by exploiting our green
energy technology and expertise, and also engage in the investment, EPC, operations & maintenance of solar power
plants. Currently, Chailease Finance ranks number one in terms of solar power plants owned in Taiwan, bringing
long- term and stable non-interest revenue to the Company given the long-term contract with Taipower Company
to provide electricity at stable prices.
■ Internationalization
Internationalization has also become the Company's critical strategy for business development.
In 1983, Grand Pacific Financing Corp. was formed to provide commercial real estate financing to small and medium
sized businesses in United States.
10
In 1989, Bangkok Grand Pacific Lease Public Company Limited ("BGPL") was established in Thailand through a joint
venture with the Bangkok Bank to offer leasing and installment sales for Taiwan business community in Thailand
to obtain manufacturing machinery and equipment. In 1992, BGPL acquired Asia Sermkij Leasing Public Company
Limited ("ASK"), which specializes in installment sales for automobiles and personal loans. In 2004, the shareholding

structure of ASK was reorganized and ASK became the parent company of BGPL. ASK went public in Thailand on
August 25, 2005 and currently has 18 branches. In 2017, SK Insurance Broker Co., Ltd. was established to provide
insurance brokerage services.
In 2005, the Company received the first approval of foreign-owned leasing license from the PRC government to set
up Chailease International Finance Corporation ("CIFC") in Shanghai. At the beginning of the development, the goal
is to provide equipment and manufacturing machinery leasing to SMEs located in the PRC as well as foreign-owned
companies. After years of efforts, the business has expanded from the coastal areas to inland regions. The customer
base is broadened to include local entities. At present, we have 56 networks nationwide. CIFC continuously
invested in specialized subsidiaries, including Chailease International Corporation, Chailease Finance International
Corporation and Jirong Real Estate Company Limited. Chailease International Commercial Factoring Corporation
(Shanghai) and Chailease Commercial Factoring Corporation (Tianjing) were set up in 2019 and 2021 respectively to
extend factoring services.
In 2006, we received approval from the State Bank of Vietnam to establish Chailease International Leasing Company
Limited ("CILC") in Ho Chi Minh City, an industrial and business center in Vietnam, and commenced operations in
January 2007. Its main business is to provide leasing business of machinery equipment and automobiles for both
Taiwanese and local companies and insurance agency business. At present, CILC has set up eight business offices
in Ho Chi Minh City, Ha Noi, Can Tho, Hai Phong, Binh Duong, Da Nang, Long An and Dong Nai. In 2016, Chailease
International Trading Company Limited was established to offer importing and exporting services.
In 2015, Chailease International Company (UK) Limited was established in London, United Kingdom, primarily
focusing on aircraft engine leasing business, market research and consultancy services. We expect that the UK
subsidiary will become our hub to extend the network to the European market.
In 2015, Chailease Berjaya Credit Sdn. Bhd. was established through a joint venture with Berjaya Group Bhd. in
Malaysia. It mainly engages in vehicle financing and gradually expand to consumer goods financing. At present, we
have headquarters in Kuala Lumpur, two branches in Johor Bahru and Penang, one representative office in Kuantan,
four outlets and three mobile offices. Chailease Agency Sdn. Bhd. and Chailease Services Sdn. Bhd were established
in 2017 and 2019 respectively to provide insurance agency services.
In 2016, Chailease Royal Leasing Plc. was established through a joint venture with Royal Group in Phnom Penh,
Cambodia. It offers finance lease services for vehicles and equipment. To expand business scope and profoundly
localize operations, we acquired 60% shares of a microfinance company from Royal Group and established Chailease
Royal Finance Plc. in Phnom Penh, Cambodia in 2018, mainly providing working capital for medium-sized/micro-
sized enterprises as well as motorcycle and consumer financing.
In 2017, Chailease Berjaya Finance Corporation was established through a joint venture with Berjaya Group Bhd.
in Philippines, focusing in providing vehicle financing. We have set up four business offices in Manila, Pampanga,
Laguna and Batangas.
In 2021, PT Artha Sekawan Asia (PT ASA), a subsidiary of Indonesia's PT Mahanusa Capital, jointly invested in the
acquisition of 100% equity of PT U Finance Indonesia. After the acquisition, the new company was named PT
Chailease Finance Indonesia. In the first two years of operation, the vehicle financing business in the Greater Jakarta
area is the main focus of development.
The Company will continue expanding the ASEAN market, making it the third growth engine beside Taiwan and
China.
11
III. Corporate Governance Report
(1) Organization
1. Organizational structure
Shareholders
Board
Corporate Governance and

Compensation
Sustainable Development Audit Committee
Committee
Committee
Chairman
Risk Management Management

Committee Committee
President
President of Taiwan's President of Mainland China's Information Security

Important Subsidiary- Important Subsidiary- Committee
Chailease Finance Co., Ltd. Chailease International
Finance Corporation
Information Technology Officer
Chief Human Resource Officer
Corporate Governance Officer
Finance Accounting Officer

Risk Management Officer
Chief Strategy Officer
Internal Audit Officer

Risk Management Department
Administration Department
Investor Relations & Public
Accounting and Financial
Think Tank Department
Business Management
Relations Department
Audit Department
Legal Department
Human Resource
IT Department
Department
Department
Department
12
2. Business of departments
A chairman and a president are appointed in the Company and the president supervises the presidents of groups
and functional managers. The president executes the resolutions of the Board in accordance with the instructions

of the chairman and administers all affairs in the Company. The functional managers assist the president with the
corporate business. If the president is unable to fulfill his duties, the one designated by the chairman shall perform
the functions of the president.
Department Duties
1. Establish or modify the internal control system based on Article 14(1) of Securities and Exchange Act.
2. Audit the effectiveness of the internal control system.
3. Establish or modify the procedures related to acquisition or disposal of assets, financial derivatives
transactions, loans to others, endorsements or guarantees based on Article 36(1) of Securities and
Exchange Act.
4. Act on matters bearing on the personal interests of a director.
Audit Committee 5. Significant transactions of assets and derivatives.
6. A material monetary loan, endorsement, or provision of guarantees.
7. Conduct collection, issuance and private placements of equity securities.
8. Appoint, dismiss or compensate certified public accountants (CPA).
9. Employ and dismiss the financial, accounting and internal audit officers.
10. Annual financial reports and half yearly financial reports.
11. Other matters regulated by the Company and the authorities.
1. Establish and regularly review the policies, systems, standards and structures for the performance
Compensation Committee evaluation and compensation of Directors and managers.
2. Regularly evaluate and determine the compensation of Directors and managers.
1. Give guidance to the overall operating status, management policies and directions.
2. Give guidance to the future critical management and development of the Company.
3. Give direction to, establish and follow the medium-term and long-term strategic targets.
4. Establish the risk management framework and ensure the risk management activities.
Management Committee
5. Establish the project team based on immediate needs and offer guidance.
6. Coordinate and direct the related business of departments and follow the implementation.
7. Formulate the high-level policies of integrated business development directions and strategies.
8. Execute the instructions of the Board.
Corporate Governance and
Establish and implement the CSR programs for the Company and subsidiaries; strengthen corporate
Sustainable Development
governance; prevent non-integrity behavior; monitoring of international trends, assisting groups and
Committee (CGSD
subsidiaries in action plans, preparation of CSR reports, and responses to external stakeholders' requests.
Committee)
1. Responsible for establishing the risk management structure approved by the Chairman of holding
company.
2. Responsible for building the risk management policies, processes and procedures of the company's
Risk Management full spectrum of products, activities, processes and systems.
Committee 3. Ensure the risk management policy be clearly conveyed to employees at each job grades.
4. Clearly instruct the accountability of every risk management level and its related report system.
5. Ensure that the company's risk management are performed by qualified employees appropriate
trained and have relevant experience and skills.
In charge of managing information development strategies and information and operations
Information Security
management; and supervising and assisting subsidiaries in the planning and integration of information
Committee
security management.
Responsible for review and coordination of development strategies of the Company and its subsidiaries;
Think Tank Department
develop the strategy of the capital market; and merger and acquisition affairs.
In charge of managing the overall business strategy; following up key performance indicators (KPIs) of
subsidiaries; the operating and management systems improvement; mediate conflicts and coordinate
Business Management
the distribution of resources among subsidiaries; study and establish new overseas subsidiary or conduct
Department
the feasibility of new business; and supervising and assisting subsidiaries in the planning and integration
of business operation.
Obtaining and organizing timely information from Group; maintaining effective communication
between domestic and international institutional investors; participate the management level planning
Investor Relations and Public
and making related disclosures and responding to related inquires; responsible for monitoring and
Relations Department
providing management feedback from members of the investment community for internal reference,
when needed.
13
Department Duties
1. Finance
Overall manage, allot and apply the financial resources of the Holding Company; Plan and coordinate
the transaction limits for the subsidiaries of the Holding Company with the financial institutions;
Develop multiple channels to raise funds in response to the capital requirements of the Holding
Accounting and Financial Company; Develop and establish the international ratings of the Holding Company.
Department 2. Accounting
Establish a unified accounting policy in conformity with the external rules and the requirements of
the authorities and effectively supervise the implementation of the subsidiaries; Overall plan the
audit schedule for the financial report of the Holding Company, implement the plan and carry out
the tasks.
Human Resources In charge of managing human resources; and supervising and assisting subsidiaries in the planning and
Department integration of human resources.
Manage and supervise the establishment of evaluation, risk assessment and risk management policies
for the financial asset quality of the Holding Company; assist the subsidiaries in the risk assessment
Risk Management
system; establish the credit risk prediction model ; in charge of the risk management project planning;
Department
promote and implement the decisions on risk management made by the "Management Committee and
the Board."
In charge of corporate governance affairs; handling regulatory compliance; legal matters; statutory
research and consultation; and supervising and assisting subsidiaries in the planning and integration of
legal & compliance.
Legal Department
Oversees general meeting administration for the board of directors, the Audit Committee and other
functional committees under the board. The corporate governance officer is in charge of handling
general affairs for the board of directors, and reports directly to the board.
To assist the board of directors and management to review and evaluate the effectiveness of the internal
control system of the company and to provide recommendations timely to ensure the internal control
system of the company is effectively designed and operating and reasonably assures the achievement of
Audit Department
the objectives for knowledge of the degree of achievement of operational effectiveness and efficiency
objectives, the reliability, timeliness, transparency, and regulatory compliance of the reporting, and
compliance with applicable laws, regulations, and bylaws.
In charge of establishing the medium term and long-term information development strategies of the
IT Department Holding Company; discussing and assessing the main information investments; and supervising and
assisting subsidiaries in the planning and integration of information security management.
Execute the registration and filings of the holding company and subsidiaries; execute the related affairs
Administrative Department of board meetings, shareholder's meetings and shareholder services; execute the announcements on
MOPs; and in charge of the administrative affairs of the Company and subsidiarires.
14
(2) Information regarding the Board of Directors and management team:
1. Directors and supervisors:

(1) Directors
March 22, 2022 Unit: share
Other managers, directors
and supervisors with a
Shareholding currently Spouse & Minor Shares held under
spouse and relative within Note
when Elected Shareholding shareholding the name of others
the company and/or in any other company

the second degree of
kinship
Position(s) held concurrently in

Date First Elected
Common Shares
Common Shares
Common Shares
Common Shares
Gender and Age
Date Elected
Percentage
Percentage
Percentage
Percentage
Nationality
Position
Tenure
Name
Experience and education
Relations
Position
Name
Preferred Shares
Preferred Shares
Preferred Shares
Preferred Shares
Percentage
Percentage
Percentage
Percentage
Fong-Long Chen Male ROC 2017/05/26 2020/05/27 3 2,703,424 0.20% 2,952,138 0.20% 217,997 0.02% －－ ■ Master of Science, Sloan School of Note1 – – – Note 10&
(Authorized repre- 61-70 years Management, MIT, USA Note 11
sentative of Chun An －－－－－－－－ 1. Chairman and President of Chailease
Investment Co., Ltd.) Holding Company Limited
2. Chairman of Chailease Finance Co.,
Ltd.
3. Chairman of Fina Finance & Trading
Co.
4. Chairman of Chailease International
Finance Corporation
5. Chairman of Chailease Energy
Chairman
Integration Co.
6. Director of Asia Sermkij Leasing Public
Company Limited
7. Director of Bangkok Grand Pacific
Lease Public Company Limited
8. Chairman of The Taipei Leasing
Association
9. Vice Chairman of Asian Leasing &
Finance Association
Chun An Investment ROC 2017/05/26 2020/05/27 3 31,518,000 2.37% 34,417,656 2.37% －－－－ – – – – –
Co., Ltd. years
－－－－－－－－
Andre J.L. Koo Male ROC 2017/07/12 2020/05/27 3 －－ 34,201 0.00% 139,803,423 9.64% ■ MBA, Leonard N. Stern School of
－－ Note 2 －－－
(Authorized repre- 51-60 years Business, NYU, USA
sentative of Chun An －－－－－－－－ 1. Chief Secretary of Chailease Group
Investment Co., Ltd.) 2. Executive Vice President of Chailease
Finance Co., Ltd.
3. CEO of Chailease Group
4. President and CEO of My Funding
5. President of Chailease Group
Director
6. Chairman of Financial One Corp.

7. Chairman of Chailease Holding
Company Limited
8. Director and Chairman of the
Management Committee of the
Company
Chun An Investment ROC 2017/05/26 2020/05/27 3 31,518,000 2.37% 34,417,656 2.37% －－－－
Co., Ltd. years
－－－－－－－－
15

kinship

Date First Elected
Common Shares
Common Shares
Common Shares
Common Shares
Gender and Age
Date Elected
Percentage
Percentage
Percentage
Percentage
Nationality
Position
Tenure
Name
Relations
Position
Name
Preferred Shares
Preferred Shares
Preferred Shares
Preferred Shares
Percentage
Percentage
Percentage
Percentage
Chee Wee Goh Male Singapore 2011/03/21 2020/05/27 3 －－－－－－－－ ■ Bachelor of Science (First Class Note 3 – – –
71-80 years Honours), University of Singapore.
－－－－－－－－ ■ Master of Science in Engineering,
University of Wisconsin, USA
■ Diploma in Business Administration,
University of Singapore
1. Singapore Institute of Standards and
Director
Industrial Research, Divisional Director.

2. National Trades Union Congress,
Deputy Secretary General
3. Ministry of Trades and Industry,
Communications and Labour, Minister
of State
4. Comfort Group Ltd, Chief Executive
Officer and Managing Director
Hsiu-Tze Cheng Female ROC 2017/08/29 2020/05/27 3 568,137 0.04% 620,405 0.04% 62,077 0.00% －－ ■ EMBA, National Taiwan University Note 4
(Authorized repre- 51-60 years 1. Director and Chief Human Resources
sentative of Chun An －－－－－－－－ Officer of the Company
Technology Co., Ltd.) 2. Director and Chief Human Resource
Officer of Chailease Finance Co., LTD
3. Chief Human Resource Officer of
Chailease International Leasing Co.,
Ltd.
4. Director of Fina Finance & Trading Co.,
Ltd.
5. Chairman of Chailease Royal Leasing
Plc.
Director
6. Chairman of Chailease Royal Finance

Plc
7. Chairman of Chailease Berjaya Finance
Corporation
Chun An Technology ROC 2017/08/29 2020/05/27 3 30,054,052 2.26% 32,819,024 2.26% －－－－
Co., Ltd. years
－－－－－－－－
King Wai Alfred Male HK 2017/08/29 2020/05/27 3 －－－－－－－－ ■ MBA, Leonard N. Stern School of Note 5 – – –
Wong (Authorized 51-60 years Business, NYU, USA
representative of －－－－－－－－ 1. Partner of AIF Capital
Chun An Technology 2. CFO of Petrolom Energy
Director
Co., Ltd.) 3. Advisor of Matlin Patterson Global

Distress Fund
Chun An Technology ROC 2017/08/29 2020/05/27 3 30,054,052 2.26% 32,819,024 2.26% －－－－ – – – – –
Co., Ltd. years
－－－－－－－－
16

kinship

Date First Elected
Common Shares
Common Shares
Common Shares
Common Shares
Gender and Age
Date Elected
Percentage
Percentage
Percentage
Percentage
Nationality
Position
Tenure
Name
Relations
Position
Name
Preferred Shares
Preferred Shares
Preferred Shares
Preferred Shares
Percentage
Percentage
Percentage
Percentage
Chih-Yang Chen Male ROC 2017/08/29 2020/05/27 3 －－－－－－－－ ■ Master Degree in International Affairs, Note 6
(Authorized 71-80 years NCCU
representative of Li －－ 50,000 0.03% －－－－ 1. Investigator of Ministry of Justice
Cheng Investment Investigation Bureau
Co., Ltd.) 2. Deputy director of Ministry of Justice
Investigation Bureau
Director
3. Executive consultant of Chailease

Construction and Development Corp
4. Chairman of Chailease Construction
and Development Corp
Li Cheng Investment ROC 2017/08/29 2020/05/27 3 105,060 0.01% 114,725 0.01% －－－－
Co., Ltd. years
－－－－－－－－
Casey K. Tung Male USA 2020/05/27 2020/05/27 3 －－－－－－－－ ■ Master of Science in Business Note 7 －－－
71-80 years Administration, California State
－－－－－－－－ University, Long Beach, U.S.A.
I Independent Director
■ Bachelor of Commerce, Soochow

University, Taiwan
1. Certified Public Accountant, California,
U.S.A.
2. Principal of Casey K. Tung CPA office
since 1990
Steven Jeremy Male Australia 2011/03/21 2020/05/27 3 －－－－－－－－ ■ MBA from Nanyang Technological Note 8 －－－
Goodman 61-70 years University, Singapore
－－－－－－－－ ■ Law Degree LLB from Manchester
University, England
■ Passed the Solicitors Finals
Examinations from the College of Law,
Law Society ofEngland and Wales (with
Independent Director
Honours)
■ Passed the Overseas Lawyers
Qualification Examination, Hong Kong
Law Society
1. Berwin Leighton, Partner
2. Denton Wilde Sapte, Partner
3. Jones Day, Partner
4. Responze TV PLC, Executive Chairman
5. Financial One Corp, Independent
Director
Ching Shui Tsou Male ROC 2020/05/27 2020/05/27 3 － ■ Master in Economics, Soochow Note 9
Independent Director
－－－－－－－
61-70 years University, Taiwan
－－－－－－－－ 1. Senior Specialist of the Investment
Commission, Ministry of Economic
Affairs, R.O.C.
Note1: Chairman and President of Chailease Holding Company Limited; Chairman of Fina Finance & Trading Co., Ltd.; Chairman of Chailease Finance (B.V.I.) Company Ltd.; Chairman and
President of Chailease Consumer Finance Co., Ltd.; Chairman of Chailease Specialty Finance Co., Ltd.; Director of Asia Sermkij Leasing Public Company Limited; Director of Bangkok
Grand Pacific Lease Public Company Limited; Chairman of Chailease Credit Services Co., Ltd.; Director of Grand Pacific Holdings Corp.; Chairman of Chailease Finance Co., Ltd.; Director
of Golden Bridge (B.V.I.) Corp.; Director of My Leasing(Mauritius) Corp.; Chairman of Chailease International Finance Corporation; Chairman of Chailease Finance International
Corp.; Chairman of Chailease International Corp.; Chairman of Jirong Real Estate Co., Ltd.; Chairman of Chailease Cloud Service Co., Ltd.; Director of Chailease International Financial
Services Co., Ltd.; Director of Chailease International Company (UK) Limited; Chairman of Chailease Energy Integration Co., Ltd.; Chairman of Power Technology Co., Ltd.; Director
of Chailease International Company (Hong Kong) Limited; Chairman of Chailease International Financial Services (Singapore) Pte. Ltd.; Chairman of Ho Lien Energy Integration Co.,
Ltd.; Chairman of Chung Cheng Energy Integration Co., Ltd.; Director of Chailease Commercial Factoring Corporation; Chairman of Tai Yuan Energy Integration Co., Ltd.; Chairman
of Chung Ho Energy Integration Co., Ltd.; Chairman of Chung Yen Energy Integration Co., Ltd.; Chairman of Tien Jen Energy Co., Ltd.; Chairman of Tien Sin Intelligent Green Energy
Co., Ltd.; Chairman of Tien Jui Energy Co., Ltd.; Chairman of Tien Chu Energy Co., Ltd.; Chairman of Tien Ying Energy Co., Ltd.; Executive Director of Chailease Commercial Factoring
Corporation.; Director of CL Capital Management Co., Ltd.; Director of CL Investment Partners Company Limited (He holds positions in 37 componies in total)
17
Note2: Director and Chairman of the Management Committee of the Company; Director of Chailease Capital (Thailand) Co., Ltd.; Chairman of Chailease Group; Chairman of
Chailease Enterprise Company Limited; Chairman of Chun An Investment Co., Ltd.; Chairman of Chun An Technology Co., Ltd.; Chairman of Li Cheng Investment Co., Ltd.;
Director of R.C. Corp.; President Managing Director of Yellowstone Holding AG(He holds positions in 9 companies in total.)
Note3: Director of Chailease Holding Company Limited.; Director of Chailease International Financial Services (Singapore) Pte. Ltd.; Director of Chailease International Financial
Services Co., Ltd.; Independent Director of Beng Kuang Marine Ltd.; (He holds positions in 4 companies in total.)
Note4: Director and Chief Human Resources Officer of the Company; Director and Chief Human Resource Officer of Chailease Finance Co., LTD; Chief Human Resource Officer
of Chailease International Leasing Co., Ltd.; Director of Fina Finance & Trading Co., Ltd.; Director of Chailease Consumer Finance Co., Ltd.; Chairman of Chailease Royal
Leasing Plc.; Chairman of Chailease Royal Finance Plc; Chairman of Chailease Berjaya Finance Corporation; Director of Diamond Rain Group Limited.; Director of Chailease
Enterprise Company Limited; Chairman of ChaiCo Investment Corp.; Chairman of Qin An Investment Consulting (SH) Co., Ltd. (She holds positions in 12 companies in
total.)
Note5: Director of the Company; Director of Chailease Finance (B.V.I) Company Ltd.; Director of Chailease International Company (Hong Kong) Limited.; Managing Director of CL
Capital Management Co., Ltd.; Director of CL Investment Partners Company Limited; Director of Philippine Grain International Corporation; Director of Chaico Investment
Corporation; Chairman of Chailease Biofund Company Limited; Director and President of Chaico Development (HK) Limited; Director of Yellowstone Holding AG (He holds
positions in 10 companies in total.)
Note6: Director of the Company; Director of Yellowstone Holding Corp; Chairman of Chailease Construction and Development Corp.; Chairman of Yellowstone Interior Design
Company Limited..; Director of Chailease Construction Bosser Design(MU) Corp.; Director of Paradise Walk Investments (SAMOA) Corp.; Executive Director of Zhongyou
Investment Management Consultants (Shanghai) Co., Ltd.; Representative of Yujia Investment Management Consultants (Shanghai) Co., Ltd; Representative of Shanghai
Jiasheng Decoration Engineering Co., Ltd (He holds positions in 9 companies in total.)
Note7: Independent Director of Chailease Holding Company Limited; Independent Director of GigaMedia Limited.(He holds positions in 2 companies in total.)
Note8: Independent Director of Chailease Holding Company Limited.; Adjunct Professor of Law at the Law Faculty of Bond University.; Solicitor qualified in UK and in Hong Kong
(non- practising).;Director and CEO of Teras International Corp; Non-executive Director of Koenig Heritage Pty Limited. (He holds positions in 5 companies or institutions in
total.)
Note9: Independent Director of the Company (He holds positions in 1 company in total.)
Note10: For the company being an investment holding company, there is no actual business activities in itself. Although the Chairman and the General Manager are the
same person, each of the critical subsidiary under the control of holding company, such as Chailease Finance Co., Ltd.、FINA Finance & Trading Co. Ltd. and Chailease
International Finance Co., Ltd. and so on. There is no such situation in critical subsidiaries that the Chairman and the General Manager or other equivalent highest level
manager are the same person, and the actual business operation is consistent to the spirit of corporate governance.
Note11: The current composition of the members of the board has met the requirement that more than half of the directors are not concurrently employees or managers, and
the growth of independent directors will be included in future planning considerations.
(2) Supervisors: No supervisors are established since because an audit committee is formed by the independent
Directors in accordance with the Articles of Association.
(3) Main shareholders of the corporate director
March 22, 2022
Name of corporate shareholder Main shareholders of the corporate shareholder
Andre J.L. Koo : 99.8%
Chun An Investment Co., Ltd.
Chi- Hwa, Koo Chou: 0.2%
Andre J.L. Koo : 0.1%
Chun An Technology Co., Ltd.
Chi- Hwa, Koo Chou: 99.9%
Andre J.L. Koo: 1.0%
Li Cheng Investment Co., Ltd.
Chi-Hwa, Koo Chou: 99.0%
(4) Main shareholders of the corporate director as a juridical person : Not suitable.
18
(5) Directors'(including independent Directors) Professional Knowledge and Independent Information
Concurrent
Qualifications
post of
Professional Qualification Requirements and independent

Experience Independent Status (Note 2) director in
(Note 1) other public
release
Name company
1. Work experience in the area of information, -
commerce, and otherwise necessary for the
business of the company.
2. Served as the Chairman and President of the
Company, Chairman of Chailease Finance
Co.,Ltd., Chairman of Fina Finance & Trading
Fong-Long Chen Co., Ltd., Chairman of Chailease International
(Authorized representative Finance Corporation, Chairman of Chailease
of Chun An Investment Energy Integration Co., Ltd., Director of Asia
Co., Ltd.) Sermkij LeasingPublic Company Limited,
Director of Bangkok Grand Pacific Lease Public
CompanyLimited, Chairman of The Taipei
Leasing Association, Vice Chairman of
Asian Leasing & Finance Association.
3. Not been a person of any conditions defined in
Article 30 of the Company Law.
1. Work experience in the area of commerce and -
otherwise necessary for the business of the
company.
2. Served as the Chief Secretary of Chailease Group,
Executive Vice President of Chailease Finance Co.,
Andre J.L
Ltd., CEO of Chailease Group, President and CEO
(Authorized representative
of My Funding, President of Chailease Group,
of Chun An Investment
Chairman of Financial One Corp., Chairman of
Co., Ltd.)
Chailease Holding Company Limited, Director
and Chairman of the Management Committee of
the Company.
company.
2. Served as Singapore Institute of Standards
and Industrial Research, Divisional Director、
National Trades Union Congress, Deputy
Chee Wee Goh Secretary General、Ministry of Trades and
Industry, Communications and Labour, Minister
of State、Comfort Group Ltd, Chief Executive
Officer and Managing Director。

company.
2. Served as Director and Chief Human Resources
Officer of the Company, Director and Chief
Hsiu Tze Cheng Human Resource Officer of Chailease Finance
(Authorized representative Co., LTD, Chief Human Resource Officer of
of Chun An Technology Chailease International Leasing Co., Ltd., Director
Co., Ltd.) of Fina Finance & Trading Co., Ltd., Chairman
of Chailease Royal Leasing Plc., Chairman
of Chailease Royal Finance Plc, Chairman of
Chailease Berjaya Finance Corporation.
19
Concurrent
Qualifications
post of
release
Name company
King Wai Alfred Wong company.
(Authorized representative 2. Served as Partner of AIF Capital, CFO of Petrolom
of Chun An Technology Energy, Advisor of Matlin Patterson Global
Co., Ltd.) Distress Fund.
1. Work experience in the area of commerce, law -
and otherwise necessary for the business of the
company.
2. Served as Investigator of Ministry of Justice
Chih-Yang Chen Investigation Bureau, Deputy director of Ministry
(Authorized representative of Justice Investigation Bureau, Executive
of Li Cheng Investment consultant of Chailease Construction and
Co., Ltd.) Development Corp, Chairman of Chailease
Construction and Development Corp..
1. Have the judgment in the area of commerce, Mr. Tsou is an independent -

law and otherwise necessary for the business of director and meet the conditions
the company and is an instructor or higher in a of independence, which includes
department of commerce and other academic but is not limited to whether the
department related to the business needs of the independent director, spouse,
company in a public or private junior college, or relative within the second
college, or university. degree of kinship is a director,
2. Served as Senior Specialist of the Investment supervisor, or employee of the
Commission, Ministry of Economic Affairs, R.O.C. company or affiliates; the shares
3. Not been a person of any conditions defined in and percentage of shares held by
Article 30 of the Company Law. the independent director, spouse,
relative within the second degree of
kinship; whether the independent
director is a director, supervisor, or
Ching-Shui Tsou
employee of the company or any
companies with specific affiliations
to the company; and compensation
received by the independent
director for providing services to the
company's commerce, law, finance,
or accounting department in the
past two years. Pursuant to the
requirements of the Listing Rules,
the Company has obtained a written
statement from each independent
non-executive director confirming
the independence of himself and his
immediate family from the company.
20
Concurrent
Qualifications
post of

release
Name company
1. Work experience in the area of commerce, law Mr. Goodman is an independent -
and otherwise necessary for the business of the director and meet the conditions
company, an instructor or higher in a department of independence, which includes
of law and other academic department related but is not limited to whether the
to the business needs of the company in a public independent director, spouse,
or private junior college, college, or university or relative within the second
and is an attorney. degree of kinship is a director,
2. Served as Berwin Leighton, Partner, Denton supervisor, or employee of the
Wilde Sapte, Partner, Jones Day, Partner, company or affiliates; the shares
ResponzeTV PLC, Executive Chairman, Financial and percentage of shares held by
One Corp, Independent Director. the independent director, spouse,
3. Not been a person of any conditions defined in relative within the second degree of
Article 30 of the Company Law. kinship; whether the independent
Steven Jeremy Goodman
1. Work experience in the area of commerce, law, Mr. Tung is an independent -
accounting and otherwise necessary for the director and meet the conditions
business of the company and is a certified public of independence, which includes
accountant. but is not limited to whether the
2. Served as Principal of Casey K. Tung CPA office. independent director, spouse,
3. Not been a person of any conditions defined in or relative within the second
Article 30 of the Company Law. degree of kinship is a director,
supervisor, or employee of the
company or affiliates; the shares
and percentage of shares held by
the independent director, spouse,
relative within the second degree of
kinship; whether the independent
Casey K. Tung
Note 1: Professional Qualifications and Experiences: State the professional qualifications and experiences of individual directors and supervisors. For audit committee members
specializing in accounting or finance, state their backgrounds and work experiences in accounting and finance and additionally explain whether they have committed
any offenses listed in Article 30 of the Company Act.
Note 2: State the independence of independent directors, which includes but is not limited to whether the independent director, spouse, or relative within the second degree
of kinship is a director, supervisor, or employee of the company or affiliates; the shares and percentage of shares held by the independent director, spouse, relative within
the second degree of kinship (or held by the independent director under others' names); whether the independent director is a director, supervisor, or employee of the
company or any companies with specific affiliations to the company (please refer to Article 3 Paragraph 1 Subparagraphs 5~8 of the Regulations Governing Appointment
of Independent Directors and Compliance Matters for Public Companies); and compensation received by the independent director for providing services to the
company's commerce, law, finance, or accounting department in the past two years.
21
(6) Board Diversity
According to the "Procedures for Election of Directors and Supervisors" promulgated by Taiwan Stock
Exchange Corporation on January 28, 2015, the shareholders meeting of the Company established "the Rules
Governing the Election of Directors" on May 27, 2016. In accordance with Article 3 of the aforementioned
rules, the composition of the board of directors should take into account its diversity, and there should be
a diversified guideline as to its operation and development, including, but not limited to: A. gender, age,
nationality, and culture background; and B. expertise (such as law, accounting, business, finance, marketing
and technology), skills, and experience. Such provision is also specified in Article 20, Corporate Governance
Best- Practice Principles. The aforementioned two Rules and Principles have been published on the webpage
of the Company.
In order to implement the diversity policy of the Board members, the percentage of inside directors to all of
the Board members is 33%; the outside directors is 33%, and the independent director is 33% as well. The
percentage of female board members is 11%. From the aspect of the age of Board members, three of the Board
members are between 71 and 80 years of age and above; three of them are between 61 and 70 years of age,
and three of them are between 51 and 60 years of age. The diversity of nationalities and professional ¬elds of
the Board of Directors receives a vast amount of the attention of the Company. The Company plans to add one
new member with different nationalities; and one new member with different professional qualification, such
as accounting, economic, or financial expertise, to the fourth Board of Directors. The backgrounds of the Board
members manifest their diversity on various areas of expertise: A. expertise in business and management:
Fong-Long Chen, Andre J.L. Koo, Chee Wee Goh, King Wai Alfred Wong, Hsiu-Tze Cheng, Ching-Shui Tsou and
Casey K. Tung; B. expertise in finance: Ching-Shui Tsou and Casey K. Tung; C. expertise in global communication
& international relations: Chih-Yang Chen D. expertise in science and technology: Fong-Long Chen and Chee
Wee Goh E. expertise in litigation and tax law, and law: Steven Jeremy Goodman In terms of gender diversity, in
addition to setting the company's goal of having at least one female director, the medium- and long-term goal
is that the company and its subsidiaries have more than one-third of the company with female directors and
supervisors. So far, all of the board members have achieved the goal of diversity policy.
(7) Independence of the Board of Directors
The Company has a total of three Independent Directors, accounting for 33% of the Board. No Independent
Director violate items 3 and 4 of Article 26-3 of the Securities and Exchange Act, which includes but is not
limited to whether the independent director, spouse, or relative within the second degree of kinship is a
director, supervisor, or employee of the company or affiliates; the shares and percentage of shares held by
the independent director, spouse, relative within the second degree of kinship; whether the independent
director is a director, supervisor, or employee of the company or any companies with specific affiliations to the
company; and compensation received by the independent director for providing services to the company's
commerce, law, finance, or accounting department in the past two years. Pursuant to the requirements of the
Listing Rules, the Company has obtained a written statement from each independent non-executive director
confirming the independence of himself and his immediate family from the company.
22
2. Presidents, executive vice presidents, vice presidents and heads of departments and branches:
March 22, 2022
Managers, Directors
Shares currently or supervisors
Position(s) held concurrently in any other company Position

Shares held

held by spouse who are spouse or
Position(s) held concurrently in any other company

Shares held under the name
and underage within 2 degrees of
of others
children consanguini- ty to
Common Shares each Other
Common Shares
Common Shares
Position held
Position
Percentage
Percentage
Percentage
Note
Name Gender ROC and education
since (Note1)
Relations
Position
Name
Preferred Shares
Preferred Shares
Preferred Shares
Percentage
Percentage
President Fong-Long Chen Male ROC 2011/02/11 2,952,138 0.20% 217,997 0.02% ─ Percentage
─ ■ Master of Science, Sloan School of Note2 – – – – Note24
Management, MIT, USA
─ ─ ─ ─ ─ ─
Important Kuen-Ming Chen Male ROC 2020/09/15 1,111,414 0.08% 577,481 0.04% ─ ─ ■ Bachelor of Accountancy, National Chung Hsing Note3 – – – – –
Regional Operating University
Officer (Chailease ─ ─ ─ ─ ─ ─
International Finance
Corporation)
Important Regional Ming- Ching Hou Male ROC 2020/09/15 1,049,317 0.07% 63,546 0.00% ─ ─ ■ Bachelor of Statistics, National Cheng Kung Note4 ─ ─ ─ ─ ─
Operating Officer University
(Chailease Finance 70,000 0.05% ─ ─ ─ ─
Co., Ltd.)
Chief Human Hsiu-Tze Cheng Female ROC 2004/01/01 620,405 0.04% 62,077 0.00% ─ ─ ■ EMBA, National Taiwan University Note5 ─ ─ ─ ─ ─
Resource Officer
─ ─ ─ ─ ─ ─
Chief Strategy Officer Ying-Chih Liao Male ROC 2006/07/03 ─ ─ 467,265 0.03% ─ ─ ■ Ph.D. Program, Harvard University, USA Note6 ─ ─ ─ ─ ─
Corporate
Governance Officer ─ ─ ─ ─ ─ ─
Internal Audit Officer Chung-Chiang Yang Male ROC 2016/03/03 1,079 0.00% ─ ─ ─ ─ ■ MBA, Kansas State University, USA Note7 ─ ─ ─ ─ ─
─ ─ ─ ─ ─ ─
Finance and Account- Wen-Cheng Chen Male ROC 2016/03/05 ─ ─ 120,432 0.01% ─ ─ ■ Bachelor of Economics, National Chung Hsing Note8 ─ ─ ─ ─ ─
ing Officer University
20,000 0.01% 20,000 0.01% ─ ─
Risk Management Jenn-Yuan Liu Male ROC 2020/09/15 158,346 0.01% 11,604 0.00% ─ ─ ■ EMBA, National Taiwan University Note9 ─ ─ ─ ─ ─
Officer
63,361 0.04% 1,915 0.00% ─ ─
Information Joseph Tseng Male ROC 2020/09/15 ─ ─ ─ ─ ─ ─ ■ Master of Management , Ming Chuan University Note10 ─ ─ ─ ─ ─
Technology Officer
20,000 0.01% ─ ─ ─ ─
Executive Vice Mei-Fang Fan Female ROC 2012/04/09 ─ ─ ─ ─ ─ ─ ■ MBA, University of Washington, USA Note11 ─ ─ ─ ─ ─
President
10,000 0.01% ─ ─ ─ ─
Executive Vice Jyh-Her Wei Male ROC 2010/04/01 49,353 0.00% ─ ─ ─ ─ ■ MBA major in International Finance, City Note12 ─ ─ ─ ─ ─
President University of New York, USA
─ ─ ─ ─ ─ ─
Executive Vice Huei-Yeu Yang Male ROC 2022/1/20 ─ ─ ─ ─ ─ ─ ■ Master of Finance, University of Dallas, USA Note13 ─ ─ ─ ─ ─
President
45,000 0.03% ─ ─ ─ ─
ASEAN Chief Financial Yeu-Horng Jeng Female ROC 2014/09/01 ─ ─ ─ ─ ─ ─ ■ MS Accounting, Long Island University, USA Note14 ─ ─ ─ ─ ─
Officer
─ ─ ─ ─ ─ ─
Project Executive Vice Kuo-Jui Tseng Male ROC 2019/09/01 ─ ─ 15,400 0.00% ─ ─ ■ EMBA, National Cheng-Chi University Note15 ─ ─ ─ ─ ─
President
15,000 0.01% ─ ─ ─ ─
Senior Vice President Yu-Ting Weng Male ROC 2010/03/01 177,080 0.01% ─ ─ ─ ─ ■ Vice Bachelor of National University of Note16 ─ ─ ─ ─ ─
Technology
─ ─ ─ ─ ─ ─
Senior Vice President Chin-Tse Liu Male ROC 2019/11/01 90,203 0.01% ─ ─ ─ ─ ■ EMBA, National Cheng-Chi University Note17 ─ ─ ─ ─ ─
32,463 0.02% ─ ─ ─ ─
23
Managers, Directors
Shares currently or supervisors
Position(s) held concurrently in any other company Position

Shares held
held by spouse who are spouse or
Position(s) held concurrently in any other company

Shares held under the name
and underage within 2 degrees of
of others
children consanguini- ty to
each Other
Common Shares
Common Shares
Common Shares
Position held
Position
Percentage
Percentage
Percentage
Note
Name Gender ROC and education
since (Note1)
Relations
Position
Name
Preferred Shares
Preferred Shares
Preferred Shares
Percentage
Percentage
Percentage
Senior Vice President Shih-Wei Chien Male ROC 2003/03/01 26,060 0.00% ─ ─ ─ ─ ■ Vice Bachelor of business administration, Note18
Aletheia
─ ─ ─ ─ ─ ─
Senior Vice President Jing-Ying Sun Female ROC 2013/01/01 89,507 0.01% 12,244 0.00% ─ ─ ■ MBA, The George Washington University, USA Note19 ─ ─ ─ ─ ─
37,405 0.02% 1,013 0.00% ─ ─
Senior Vice President Tsai-Tung Li Female ROC 2020/02/01 ─ ─ ─ ─ ─ ─ ■ Master of Science Industrial Relations, Note20 ─ ─ ─ ─ ─
University of NewHaven, USA
20,000 0.01% ─ ─ ─ ─
Senior Vice President Hsiao-Tung Li Female ROC 2022/01/15 ─ ─ ─ ─ ─ ─ ■ MBA, University of Durham, UK Note21
30,000 0.02% ─ ─ ─ ─
Vice President Kuai-Chen Chen Male ROC 2019/09/01 ─ ─ ─ ─ ─ ─ ■ Bachelor of Information Management, Note22 ─ ─ ─ ─ ─
ChaoYang University of Technology
25,000 0.02% ─ ─ ─ ─
Vice Presiden Nai-Feng Chiang Female ROC 2019/09/01 4,379 0.00% ─ ─ ─ ─ ■ Bachelor of Information Management, Fu Jan Note23 ─ ─ ─ ─ ─
University
20,000 0.01% ─ ─ ─ ─
Vice President Kung-Hao Hsu Male ROC 2020/06/01 51,228 0.00% ─ ─ ─ ─ ■ Master of International Business, Ming Chuan Note24 ─ ─ ─ ─ ─
University
22,228 0.01% ─ ─ ─ ─
Vice President Zhi-Long Wu Male ROC 2022/02/01 63,958 0.00% ─ ─ ─ ─ ■ Master of International Business, Ming Chuan Note25
University
30,639 0.02% ─ ─ ─ ─
Note1: The date that the person held the position in the Company.
Note2: Chairman of Fina Finance & Trading Co., Ltd.;Chairman of Chailease Finance Co., Ltd.; Chairman and President of Chailease Consumer Finance Co., Ltd.; Chairman of
Chailease Specialty Finance Co., Ltd.; Chairman of Chailease Cloud Service Co., Ltd.; Chairman of Chailease International Finance Corporation; Chairman of Chailease
International Corp.; Chairman of Chailease Finance International Corp.; Chairman of Jirong Real Estate Co., Ltd.; Chairman of Chailease Finance (B.V.I.) Company Ltd.;
Director of Golden Bridge (B.V.I.) Corp.; Director of My Leasing(Mauritius) Corp.; Director of Asia Sermkij Leasing Public Company Limited; Director of Bangkok Grand Pacific
Lease Public Company Limited; Director of Grand Pacific Holdings Corp.; Director of Chailease International Financial Services Co., Ltd.; Director of Chailease International
Company (UK) Limited; Chairman of Chailease Energy Integration Co., Ltd.; Chairman of Power Technology Co., Ltd.; Chairman of Chailease Credit Services Co., Ltd.;
Director of Chailease International Company (Hong Kong) Limited; Chairman of Chung Cheng Energy Integration Co., Ltd.; Director of Chailease Commercial Factoring
Corporation; Chairman of Chailease International Financial Services (Singapore) Pte. Ltd.; Chairman of Ho Lien Energy Integration Co., Ltd.; Chairman of Tai Yuan Energy
Integration Co., Ltd.; Chairman of Chung Ho Energy Integration Co., Ltd.; Chairman of Chung Yen Energy Integration Co., Ltd.; Chairman of Tien Jen Energy Co., Ltd.;
Chairman of Tien Sin Intelligent Green Energy Co., Ltd.; Chairman of Tien Jui Energy Co., Ltd.; Chairman of Tien Chu Energy Co., Ltd.; Chairman of Tien Ying Energy Co., Ltd.;
Executive Director of Chailease Commercial Factoring Corporation.; Director of CL Capital Management Co., Ltd.; Director of CL Investment Partners Company Limited (He
holds positions in 36 componies in total)
Note3: General Manager of China Subsidiary of Chailease Finance Co., Ltd.; Director of My Leasing (Mauritius) Corp.; Director and President of Chailease International Finance
Corporation; Director and President of Chailease International Corp.; Chairman of Chailease International Leasing Company Limited.; Director and President of Jirong Real
Estate Co., Ltd.; Vice Chairman of Chailease Finance International Corp.,; Executive Director of JonRuei Finance Corperation; President of Chailease Commercial Factoring
Corporation. (He holds positions in 9 companies in total.)
Note4: Director and President of Chailease Finance Co., Ltd.; Director of Chailease Consumer Finance Co.,Ltd.; Director and President of Fina Finance & Trading Co., Ltd.; Director
and President of Chailease Specialty Finance Co., Ltd.; Director and President of Chailease Cloud Service Co., Ltd.; Chairman of Chailease Insurance Brokers Co., Ltd.; Director
of My Leasing(Mauritius) Corp.; Supervisor of Chailease International Finance Corporation; Supervisor of Chailease International Corp.; Supervisor of Chailease Finance
International Corp.; Director and President of Chailease Credit Service Co., Ltd.; Director of Chailease International Financial Services (Liberia) Corp.; Director of Chailease
International Fortune Corp (Liberia); Chairman and President of Yun Tang Inc.; Director and President of Chailease Energy Integration Co., Ltd.; Director of Chailease
International Company (UK) Limited; Chairman of Chailease Berjaya Credit Sdn. Bhd.; Director and President of Chaillease Power Technology Co., Ltd.; Director of Chailease
International Financial Services (Labuan) Co., Ltd.; Director of Chailease International Company (Malaysia) Limited; Chairman of Chailease Agency Sdn. Bhd.; Director
of Chung Cheng Energy Integration Co., Ltd.; Director of Ho Lien Energy Integration Co., Ltd.; Chairman of Chung Wei Energy Integration Co., Ltd.; Chairman of Chung
Yu Energy Integration Co., Ltd.; Chairman of Jung Yu Energy Integration Co., Ltd.; Chairman of He To Energy Integration Co., Ltd.; Director of Tung Feng Inc.; President
Commissioner of PT. Chailease Indonesia Finance; Director of Tung Ching Energy Technology Inc; Director of Tien Jen Energy Co., Ltd.; Director of Tien Sin Intelligent Green
Energy Co., Ltd.; Director of Tien Jui Energy Co., Ltd.; Director of Tien Chu Energy Co., Ltd.; Chairman of Chung Ming Co., Ltd.; Chairman of Chung Yao Co., Ltd.; Director of
24
Tien Ying Energy Co., Ltd.; Director of Chailease Bright Co., Ltd.; Director of Chailease Cherish Co., Ltd.; Director of Ace Marine Co., Ltd.; Director of Chailease Harmony Co.,
Ltd.; Director of Chailease Virtue Co., Ltd.; Chairman of Yao Jih Co., Ltd.; Chairman of Ho Hsuan Co., Ltd.; Chairman of Hsia Ching Co., Ltd; Commissioner of PT Chailease
Finance Indonesia; Chairman of Tien Hsing Integration Co., Ltd; Director of Chu Chiang Solar Energy Inc.; Director of Chailease International Maritime Holding Co., Ltd.;
Director of Chailease Shipping Finance (Liberia) Co., Ltd.; Director of Chailease Blossom Co., Ltd.; Director of Chailease Glory Co., Ltd.; Chairman of Ruo Tai Co., Ltd.; Chairman

of Ruo Chen Co.,Ltd.; Chairman of Ruo Jing Co., Ltd.; Chairman of Tien Hsiao Co., Ltd.; Chairman of Sheng Neng Co., Ltd.; Chairman of Chen Ying Co., Ltd.; Chairman of Chu
To Co., Ltd.; Chairman of Jing Sheng Co., Ltd.; Chairman of Kuang Hsi Co., Ltd. (He holds positions in 61 companies in total.)
Note5: Director and Chief Human Resource Officer of Chailease Finance Co., LTD; Chief Human Resource Officer of Chailease International Leasing Co., Ltd.; Director of Fina
Finance & Trading Co., Ltd.; Chairman of Chailease Consumer Finance Co., Ltd.; Chairman of Chailease Royal Leasing Plc.; Chairman of Chailease Royal Finance Plc;
Chairman of Chailease Berjaya Finance Corporation; Director of Diamond Rain Group Limited.; Director of Chailease Enterprise Company Limited; Chairman of ChaiCo
Investment Corp.; Chairman of Qin An Investment Consulting (SH) Co., Ltd. (She holds positions in 11 companies in total.)
Note6: Senior Executive Vice President of Chailease Finance Co., Ltd.; Director of Asia Sermkij Leasing Public Co., Ltd.; Director of Chailease International Company (UK) Limited;
Commissioner of PT. Chailease Indonesia Finance.; Commissioner of PT Chailease Finance Indonesia; Director of CL Capital Management Company Limited; Director
of CL Investment Partners Company Limited; Director of Chailease Enterprise Company Limited; Director and Executive Vice President/ Chief Strategy Officer of ChaiCo
Investment Corp; (He holds positions in 9 companies in total.)
Note7: Supervisor of Chailease Specialty Finance Co., Ltd.; Supervisor of Chailease Credit Services Co., Ltd.; Supervisor of Chailease Energy Integration Co., Ltd. (He holds positions
in 3 companies in total.)
Note8: CFO of Chailease International Finance Corporation; Director of Chailease International Corp.; Director of Jirong Real Estate Co., Ltd. ( He holds positions in 3 companies in
total.)
Note9: Senior Executive Vice President of Chailease Finance Co., Ltd; Senior Executive Vice President of Fina Finance & Trading Co., Ltd.; Supervisor of Chailease Consumer Finance
Co.,Ltd. ; Supervisor of Tien Jen Energy Co., Ltd.; Supervisor of Tien Sin Intelligent Green Energy Co., Ltd.; Supervisor of Tien Jui Energy Co., Ltd.; Supervisor of Tien Chu
Energy Co., Ltd.; Supervisor of Tien Ying Energy Co., Ltd. (He holds positions in 8 companies in total.)
Note10: CTO of Chailease Finance Co., Ltd. (He holds position in 1 company in total.)
Note11: Executive Vice President of Chailease Finance Co., Ltd. ( She holds positions in 1 company in total.)
Note12: Executive Vice President of Chailease Finance Co., Ltd. .; CFO of Chailease Royal Leasing Plc. ; CFO of Chailease Royal Finance Plc.; Vice President of Chailease Berjaya
Finance Corporation; Director of PT. Chailease Indonesia Finance ( He holds positions in 5 companies in total.)
Note13: Director of Chailease Berjaya Credit Sdn. Bhd.; Director of Chailease International Leasing Company Limited. ( He holds positions in 2 companies in total.)
Note14: Director of Chailease International Leasing Co. Ltd. (She holds positions in 1 company in total.)
Note15: Project Executive Vice President of Chailease Finance Co., Ltd. (He holds position in 1 company in total.)
Note16: Senior Vice President of Chailease Finance Co., Ltd. (He holds position in 1 company in total.)
Note17: Senior Vice President of Chailease Finance Co., Ltd.; Acting Senior Executive Vice President of Chailease International Finance Corporation.( He holds positions in 2
companies in total.)
Note18: Senior Vice President of Chailease Finance Co., Ltd.; Senior Vice President of Chailease International Finance Corporation. ( He holds positions in 2 companies in total.)
Note19: Senior Vice President of Chailease Finance Co., Ltd.; Director of Chailease International Leasing Co. Ltd.; Director of Chailease Capital (Thailand) Co., Ltd. ;.Independent
Director of Chailease Royal Finance Plc.(She holds positions in 4 companies in total.)
Note20: Senior Vice President of Chailease Finance Co., Ltd. ( She holds positions in 1 company in total.)
Note21: Senior Vice President of Chailease Finance Co., Ltd.; Director of Chailease International Leasing Company Limited; Director of Chailease Cloud Service Co., Ltd. ( She holds
positions in 3 companies in total.)
Note22: Vice President of Chailease Finance Co., Ltd. ( He holds positions in 1 company in total.)
Note23: Vice President of Chailease Finance Co., Ltd. ( She holds positions in 1 company in total.)
Note24: Vice President of Chailease Finance Co., Ltd.; Assistant Vice President of Chailease International Leasing Company Limited ( He holds positions in 2 companies in total.)
Note25: Vice President of Chailease Finance Co., Ltd.; Vice President of Chailease Royal Leasing Plc. ; Vice President of Chailease Royal Finance Plc. ; Vice President of PT Chailease
Finance Indonesia ( He holds positions in 4 companies in total.)
Note26: (1) For the company being an investment holding company, there is no actual business activities in itself. Although the Chairman and the General Manager are the
same person, each of the critical subsidiary under the control of holding company, such as Chailease Finance Co., Ltd. 、 FINA Finance & Trading Co. Ltd. and Chailease
International Finance Co., Ltd. and so on. There is no such situation in critical subsidiaries that the Chairman and the General Manager or other equivalent highest level
manager are the same person, and the actual business operation is consistent to the spirit of corporate governance.
25
3. Directors, presidents and executive vice presidents remuneration in the latest year:
(1) Directors (including independent Directors) remuneration
Unit: NT$ thousands
Remuneration to Directors 4 items Employee remuneration
combined 7 items combined to
Bonus and special
Business expenses to net net income (%)
Remuneration of reinvestment business

Honoranium Retirement pay Director Earning Retirement pay Employee earning
income (%) remuneration
Companies in the consolidated financial

Companies
in the
Position
Name
Chailease consolidated
Chailease Holding
Chailease Holding
Chailease Holding
Chailease Holding
Chailease Holding
Chailease Holding
Chailease Holding
Chailease Holding
statements
statements
statements
statements
statements
statements
statements
Holding financial
statement
statements
(Note 8)
Stock
Stock
Cash
Cash
Chairman Fong-Long Chen
of Chun An
Investment Co., Ltd.)
Director Andre J.L (Authorized
representative of Chun An
Director Chee Wee Goh
Director Hsiu-Tze Cheng (Authorized 136,332 139,112 0 0 15,419 15,419 940 940 152,691 155,471 64,031 78,179 122 306 2,214 0 2,214 0 219,058 236,170 0
representative of Chun An 0.71% 0.72% 1.01% 1.09%
Technology Co., Ltd.)
Director King Wai Alfred Wong
of Chun An Technology Co.,
Ltd.)
Director Chih-Yang Chen (Authorized
representative of Li Cheng
Independent Steven Jeremy Goodman
Director
Independent Casey K. Tung
5,400 5,400 0 0 4,626 4,626 0 0 10,026 10,026 0 0 0 0 0 0 0 0 10,026 10,026 0
Director
0.05% 0.05% 0.05% 0.05%
Independent Ching-Shui Tsou
Director
1. Please explain the policy, system, standards, and structure by which independent director remuneration is paid, and association between the amount paid and independent
directors' responsibilities, risks, and time committed:
(1)In assessing the remuneration The Company's independent directors, the remuneration standard of the industry should be referred to as well as consider the
reasonableness of the personal performance, the Company's revenue performance and future risk. And the company should not encourage the directors to conduct
any activities exceeding the acceptable risk level of the Company in pursuit of higher remuneration. The directors' remuneration will be reviewed by the Compensation
Committee and issue after the total amount has been approved by the Board.
(2)The independent directors of the Company are paid in fixed monthly remuneration, and shall provide different remunerations according to the contribution of participating
in the functional committee (such as serving as the chairman or member of a committee).At the same time, the company reviews the remuneration policy every year
based on the actual operating conditions and in accordance with related regulations, in order to pursue the balance between the company's sustainable operation and risk
control.
2. Apart from the aforementioned disclosure, the remunerations for directors of the Company providing services (such as serving as a consultant that is not an employee) to
consolidated subsidiaries: None.
Note1: The remuneration to drivers of directors who are also employees is NT$2,971 thousand in total.
26
Range of Remunerations
Name of Directors
Range of 4 items combined 7 items combined

remunerations Companies in the Companies in the
Chailease Holding consolidated financial Chailease Holding consolidated financial
statements statements
< 1 million
King Wai Alfred Wong、 King Wai Alfred Wong、 King Wai Alfred Wong 、 King Wai Alfred Wong 、
1 million (incl.)~2
Hsiu-Tze Cheng、 Hsiu-Tze Cheng、 Chih-Yang Chen Chih-Yang Chen
million (excl.)
Chih-Yang Chen Chih-Yang Chen
Fong-Long Chen、 Fong-Long Chen、
Chee Wee Goh、 Chee Wee Goh、
Chee Wee Goh、 Chee Wee Goh、
2 million (incl.)~3.5 Steven Jeremy Goodman、 Steven Jeremy Goodman、
Steven Jeremy Goodman 、 Steven Jeremy Goodman、
million (excl.) Casey K. Tung、Ching- Casey K. Tung、
Casey K. Tung、 Casey K. Tung、
Shui Tsou Ching-Shui Tsou
Ching-Shui Tsou Ching-Shui Tsou
3.5 million (incl.)~5
million (excl.)
5 million (incl.)~10
million (excl.)
10 millions (incl.)~15
Hsiu-Tze Cheng
million (excl.)
Hsiu-Tze Cheng
million (excl.)
million (excl.)
Fong-Long Chen Fong-Long Chen
million (excl.)
>100 million Andre J.L. Koo Andre J.L. Koo Andre J.L. Koo Andre J.L. Koo
Total 9 people 9 people 9 people 9 people
Note2: This includes salary, compensation for professional services, severance pay, and all bonus and bounties paid to the director during the year.
Note3: This refers to filling in director's profit sharing of the latest fiscal year proposed and resolved by the Board.
Note4: Payments to the director to cover business expenses (including travel expenditures, allowances, reimbursements, accommodation, company cars, in-kind supplies, etc.) If
residences, cars (or other transportations) or personal expenses are provided, information about the assets (including classification, cost, actual or fair market values of the
rent, gasoline expenses, other perks) must be disclosed but not included in the remuneration.
Note5: Payments to the director, who is also a president, executive vice president, manager, or employee, to cover business expenses (including travel expenditures, allowances,
reimbursements, accommodation, company cars, in-kind supplies, etc.) If residences, cars (or other transportations) or personal expenses are provided, information about
the assets (including classification, cost, actual or fair market values of the rent, gasoline expenses, other perks) must be disclosed but not included in the remuneration.
Compensation paid to personal drivers must be noted, when applicable, but not accumulated under the remuneration received Salary expenses recognized in
accordance with IFRS 2 "Share-based Payment" include acquisition of employee stock warrants, new restricted employee shares, and participation in capital increases by
cash subscription, which shall all be calculated as remuneration.
Note6: A person receiving employee remuneration (stock and cash bonus) to the director, (including concurrently serving as a president, executive vice president, other manager,
or employee) shall disclose the rewarding amount proposed and resolved by the Board (If cannot be estimated, the distribution amount of this year shall be determined
by the actual distribution ratio of last year). Table 1-3 shall be filled in
Note7: Total remuneration paid by the Group companies (including the Company) in the consolidated report to the director.
Note8: Disclose remuneration paid by the Company to the director under the suitable range. Name of the receiver must be shown under the suitable range.
Note9: Disclose remuneration paid by the Group companies (including the Company) in the consolidated report to the director under the suitable range. Name of the receiver
must be shown under the suitable range.
Note10: Net income disclosed from the latest financial statement of each company.
Note11: a. Remuneration amount received by directors from Non-group affiliates.
b. For remuneration received by Company directors from non-group subsidiaries, the amount must be shown in the Column I under the Remuneration Range Table.
The Column must be renamed to "All Investment Businesses."
c. Remuneration refers to compensation, remuneration (including remuneration to employees, directors and managers), and rewards related to business execution
expenses received by directors of the Company serving as directors of non-group subsidiaries investment business.
* Remuneration shown under the chart is for disclosure purpose. It is not subject to "income" under the Income Tax Act, and thereby is not taxable.
27
(2) Remuneration to presidents and executive vice presidents
Unit: NT$ thousands
Bonus and special 4 items combined

Remuneration Retirement pay Employee's bonus
Remuneration of reinvestment business

remuneration to net income (%)
Companies in
Companies in the consolidated

Chailease the consolidated
financial statements
Holding financial
Chailease Holding
Chailease Holding
Chailease Holding
Chailease Holding
Position Name
statements
Cash Stock Cash Stock
President Fong-Long Chen

Important Regional Operating Officer
Ming-Ching Hou
(Chailease Finance Co., Ltd.)
Important Regional Operating Officer
(Chailease International Finance Kuen-Ming Chen
Corporation)
Finance Accounting Officer Wen-Cheng Chen
Internal Audit Officer Chung-Chiang Yang
Chief Human Resource Officer Hsiu Tze Cheng 18,163 51,499 6,620 8,572 95,412 143,667 3,531 0 6,284 0 123,726 210,022 0
Chief Strategy Officer Ying-Chih Liao 0.57% 0.97%
Risk Management Officer Jenn-Yuan Liu
Information Technology Office Joseph Tseng
Executive Vice President Mei-Fang Fan
Executive Vice President Jyh-Her, Wey
ASEAN Chief Financial Officer Yeu-Horng Jeng
(Former)Executive Vice President Jui-Hsin Chen(Note1)
(Note1) Executive Vice President Jui-Hsin Chen has transferred to affiliate from 2021/02/05.
(Note2) The remuneration to drivers of managers totals NT$2,660 thausand.
28
Range of Remuneration
Name of presidents and executive vice presidents
Range of remuneration Companies in the consolidated financial
Chailease Holding

statements
Chung-Chiang Yang、
< 1 million Jenn-Yuan Liu、Joseph Tseng、Mei-Fang Fan、 Jui-Hsin Chen
Jyh-Her Wey 、Jui-Hsin Chen
1 million (incl.)~2 million (excl.) Wen-Cheng Chen
2 million (incl.)~3.5 million
Yeu-Horng Jeng
(excl.)
3.5 million (incl.)~5 million
(excl.)
Wen-Cheng Chen、Chung-Chiang Yang、
5 million (incl.)~10 million (excl.) Jenn-Yuan Liu、Joseph Tseng、Yeu-Horng Jeng、
Mei-Fang Fan、Jyh-Her Wey
10 millions (incl.)~15 million Hsiu-Tze Cheng、Kuen-Ming Chen、
(excl.) Ying-Chih Liao
15 million (incl.)~30 million Ming-Ching Hou 、Kuen-Ming Chen、
Ming-Ching Hou
(excl.) Hsiu-Tze Cheng、Ying-Chih Liao
30 million (incl.)~50 million
(excl.)
50 million (incl.)~100 million
Fong-Long Chen Fong-Long Chen
(excl.)
>100 million
Total 13 people 13 people
Note 2: This includes salary, compensation for professional services, severance pay paid to the presidents or executive vice presidents during the year
Note 3: Payments to presidents or executive vice presidents to reward or cover business expenses (including travel expenditures, allowances, reimbursements, accommodation,
company cars, in-kind supplies, etc.) If residences, cars (or other transportations) or personal expenses are provided, information about the assets (including classification,
cost, actual or fair market values of the rent, gasolin e expenses, other perks) must be disclosed but not included in the remuneration. Compensation paid to personal
drivers must be noted, when applicable, but not accumulated under the remuneration received. Salary expenses recognized in accordance with IFRS 2 "Share -based
Payment" include acquisition of employee stock warrants, new restricted employee shares, and participation in capital increases by cash subscription, which shall all be
calculated as remuneration.
Note 4: Employee remuneration amount (stock and cash; if cannot be estimated, the distribution amount of this year shall be determined by the actual distribution ratio of last
year) to the president or the executive vice president. The rewarding amount is proposed and resolved by the Board of the fiscal years. Table 1-3 shall be filled in.
Note 5: Aggregated amount of individual compensation paid by the Group companies (including the Company) in the consolidated statement to the president or executive vice
president.
Note 6: Aggregated amount of individual compensation paid by the Company to the president or executive vice president. Names of the receivers must be shown under the
suitable range.
Note 7: Aggregated amount of individual compensation paid by the Group companies (including the Company) in the consolidated statement to the president or executive vice
president. Names of the receivers must be shown under the suitable range.
Note 8: Net income disclosed from the latest financial statement of each company.
Note 9: a. Remuneration amount received by the president or executive vice president from affiliates of the subsidiaries.
b. For remuneration received by the president or executive vice president from affiliates of the subsidiaries, the amount must be shown in the Column E under the
Remuneration Range Table. The Column must be renamed to "All Investee Companies."
c. Remuneration refers to compensation, remuneration (including remuneration to employees, directors and supervisors), and rewards related to business execution
expenses received by Presidents and Executive Vice Presidents of the Company serving as directors, supervisors, or managers of non-group subsidiaries investment
business.
* Remuneration shown under the chart is for disclosure purpose. It is not subject to "income" under the Income Tax Act, and thereby is not taxable.
29
(3) Name of managers and distribution details:
Total to net
Position Name Stock dividends Cash dividends Total
income (%)
Important Regional Operating
Ming-Ching Hou
Officer (Chailease Finance Co., Ltd.)
Important Regional Operating
Officer (Chailease International Kuen-Ming Chen
Finance Corporation)
Finance Accounting Officer Wen-Cheng Chen
Internal Audit Officer Chung-Chiang Yang
Chief Human Resource Officer Hsiu-Tze Cheng 0 3,531 3,531 0.02%
Chief Strategy Officer Ying-Chih Liao

Risk Management Officer Jenn-Yuan Liu
Information Technology Office Joseph Tseng
Executive Vice President Mei-Fang Fan
Executive Vice President Jyh-Her, Wey
ASEAN Chief Financial Officer Yeu-Horng Jeng
4. The percentage of remuneration paid by the Company and all companies in the consolidated financial reports
to the Directors, supervisors, presidents, and executive vice presidents in the net income for the past 2 years is
analyzed. The correlation between the remuneration payment policy, standard and structure, setting procedure
and operational performance as well as future risks are described below.
(1) The percentage of remuneration paid by the Company and all companies in the consolidated financial reports
to the Directors, supervisors, presidents, and executive vice presidents in the net income for the past 2 years is
analyzed.
Unit:NT$ thousand
Year 2020 2021
Percentage in the net
Amount Percentage of net income Amount
income
Companies Companies Companies Companies
in the in the in the in the
Chailease Chailease Chailease Chailease
consolidated consolidated consolidated consolidated
Holding Holding Holding Holding
financial financial financial financial
Item statements statements statements statements
Director 210,840 227,879 1.25% 1.35% 229,084 246,196 1.06% 1.14%
President and
executive vice 112,119 212,365 0.67% 1.26% 123,726 210,022 0.57% 0.97%
president
(2) The correlation between the remuneration payment policy, standard and structure, setting procedure and
operational performance as well as future risks.
The annul remuneration payment to directors is established in accordance with Article 118 of "The
Memorandum of Association of Company", not more than 0.1% profit before tax in one fiscal year. Besides,
business performance of the company, performance of the Board, market remuneration information and
individual director performance which is including but not limited to individual contributions to the company,
attendance of board meeting and frequency of speech on board meeting, are also taken into account of
measuring individual remuneration level.
The remuneration policy of the Company is determined based on the corporate management strategy,
personnel policy and payment capability. The remuneration of key managers via the approval of Compensation
Committee, and submitted to the Board resolution.
The leadership, strategy planning and execution ability of managers play fundamental roles in the delivery
of vision, realization of long-term and short-term operational goals and improvement of operational
30
performance. In order to closely link the performance of managers to the corporate profits and interests of
shareholders, the Company regularly authorizes a professional management consulting company to conduct
research on the compensation of financial competitors and examine the compensation level of the Company
based on the survey results to offer competitive compensation. We offer bonuses based on the overall

operation and individual performance to practically realize the performance bonus system. In addition, our
compensation and bonus policy is established in both company and individual side. Company side includes
the business performance and the risk and future trend of the industry; Individual side includes the link of
individual effort and individual contribution to the business performance of the company. Every plan of
performance evaluation and plan of compensation and benefit is all examining and approved by The Board
and Compensation Committee. It's also been reviewing at any time to pursue the balance of risk management
and sustainable development of the company.
The company's future risk depends on the asset quality of credit loss situation, the company has set up the
Risk Management Department which is in charge of managing and supervising the financial asset's quality
and will be adjusted the normal ratio of allowance for bad debts based on the product quality; while the bad
debt losses increases, the personal performance and remuneration of Directors, presidents and executive vice
presidents will be reduced relatively.
The Company also offers a retirement superior to the legally regulated one with an expectation that managers
can devote their best efforts and strength to the Company. (The retirement plan is applicable to general
employees as well).
31
(3) Corporate governance practices
1. The Evaluation on the Performance of the Board of Directors
Frequency of Evaluation Scope of
Evaluation
Evaluation Period Evaluation (Note Evaluation Aspects (Note 5)
Methods (Note 4)
(Note 1) (Note 2) 3)
(1) Internal Evaluation (1) Performance (1) Internal (1) The performance assessment of the board of directors
assessment: period: evaluation of assessment: include the following aspects:
The company November 1, the Board of The assessment 1. The degree of participation in the company's
performs the 2020 Directors methods include operations.
performance to October 31, (2) Self- internal self- 2. Improvement in the quality of decision making by
evaluation 2021. assessment evaluation of the board of directors.
of the board of board the board of 3. The composition and structure of the board of
of directors members directors and directors.
once a year, (3) Performance self- evaluation 4. The election of the directors and their continuing
and discloses evaluation of of the directors. professional education.
the evaluation the Salary and (2) External 5. Internal controls.
results on the Compensation evaluation: (2) The self-assessments of board members includes the
company's Committee Appoint external following aspects:
website or (4) Performance professional 1. Their grasp of the company's goals and missions.
annual report. Evaluation organizations, 2. Their recognition of director's duties.
(2) External of Corporate experts or other 3. Their degree of participation in the company's
assessment: Governance appropriate operations.
carried out and methods 4. Their management of internal relationships and
every three Sustainability to conduct communication.
years. Committee performance 5. Their professionalism and continuing professional
(5) Performance evaluation. education.
evaluation 6. Internal controls.
of the Audit (3) The performance assessment of the Salary and
Committee Compensation Committee include the following aspects:
1. The degree of participation in the company's
operations.
2. The recognition of the duties of the Salary and
Compensation Committee.
3. Improvement in the quality of decision making by
the Salary and Compensation Committee.
4. The composition of the Salary and Compensation
Committee, and election and appointment of
committee members.
(4) The performance assessment of the Corporate
Governance and Sustainability Committee include the
following aspects:
operations.
2. The recognition of the duties of the Corporate
Governance and Sustainability Committee.
3. Improvement in the quality of decision making
by the Corporate Governance and Sustainability
Committee.
4. The composition of the Corporate Governance
and Sustainability Committee, and election and
appointment of committee members.
(5) The performance assessment of the Audit Committee
include the following aspects:
operations.
2. The recognition of the duties of the Audit Committee.
3. Improvement in the quality of decision making by
the Audit Committee.
4. The composition of the Audit Committee, and
election and appointment of committee members.
5. Internal control.
Note 1: It is to fill in the execution cycle of the board evaluation, for example: once a year.
Note 2: The period covered by the board evaluation is listed, for example: for the board of directors from January 1, 2020 to December 31, 2020.
Note 3: The scope of the evaluation includes the performance evaluation of the board of directors, individual board members and functional committees.
Note 4: Evaluation methods include internal self-evaluation of the board of directors, self-evaluation of board members, peer evaluation, appointment of external professional
institutions, experts or other appropriate methods for performance evaluation.
32
Note 5: The assessment content includes at least the following items according to the assessment scope:
(1) Performance evaluation of the board of directors: at least include the degree of participation in the company's operations, the quality of the board's decision-making,
the composition and structure of the board of directors, the selection and continuous training of directors, and internal control.
(2) Performance evaluation of individual directors: at least include the company's objectives and tasks, directors' responsibilities, participation in the company's operations,

internal relationship management and communication, professional and continuous training of directors, internal control, etc.
(3) Performance evaluation of functional committees: the degree of participation in the operation of the company, the recognition of the responsibilities of the functional
committees, the decision-making quality of the functional committees, the composition of the functional committees and the selection of members, internal control,
etc.
The Company has implemented a system of evaluation on the performance of the Board of Directors. Moreover,
in August of 2016, the Board of Directors approved "the Rules on the Evaluation of the Performance of the Board
of Directors," with a view to enhance the performance of the Board of Directors through setting performance
indexes. The Internal Evaluation on the Performance of the Board of Directors shall be conducted every year. "The
Performance assessments of the board of directors"and "the Self-assessment and peer-to-peer assessments of
individual directors"would be conducted in every November. Moreover, the assessment result shall be reported
to the Board of Directors for further evaluation and improvement. The External Evaluation on the Performance
of the Board of Directors shall be conducted by outside counsels every three years. The assessment result shall
be reported to the Board of Directors for further evaluation and improvement as well. "Pursuant to Article 38
of Chailease Corporate Governance Best Practice Principles, the Board of Director on March 10, 2021 amended
"Regulations Governing Evaluation of the Performance of the Board of Directors" and "Board of Directors
Performance Self-Evaluation Questionnaire" of the Company to include the quantitative standards and calculation
examples for Board of Director, Functional Committees, and Directors' performance evaluations to provide the
ground for the remuneration review of directors. The reports of the Board of Director, Functional Committees and
Directors' self and peer evaluation base on the said standards were proposed to and resolved by the Corporate
Governance and Sustainability Committee on March 10, 2021. The amendment and the resolution on such matter
are also a part of the Corporate Governance and Ethical Management Committee's annual agenda."
The Internal Evaluation on the Performance of the Board of Directors was conducted in accordance with
the revised rules and questionnaires.
■ The evaluation results of each scope of evaluation and the corresponding scores are as follows:
1. "Questionnaire of Performance evaluation of the Board of Directors": The three executive members found
that the performance of the board of directors of the Company is exceeding the standard in each aspect of
the evaluation.
2. "Questionnaire of Self-assessment of board members": the performance of all directors of the Company is
exceeding the standard in each aspects of the evaluation.
3. "Questionnaire of Performance evaluation of the Salary and Compensation Committee": The three executive
members found that the result of the Performance evaluation for the Salary and Compensation Committee
of the Company is exceeding the standard in each aspect of the evaluation.
4. "Questionnaire of Performance evaluation of the Audit Committee": The three executive members found
that the performance of the audit committee of the Company is exceeding the standard in each aspect of
the evaluation.
5. "Questionnaire of Performance Evaluation of Corporate Governance and Sustainability Committee": The
three executive members found that the performance of the Corporate Governance and Sustainability
Committee of the Company is exceeding the standard in each aspect of the evaluation.
The summary of executive report has also been disclosed on the Company's website
http://www.chaileaseholding.com/ugC_AboutUs02-02.asp.
33
■ The External Evaluation on the Performance of the Board of Directors
"The Company appoints Taiwan Corporate Governance Association (the "Association"), which has no business
relationship with the Company and therefore considered independent, to conduct the 2020 external
performance evaluation of the Board of Director. The association conducts overall observation and evaluation
on the following eight aspects: the composition of the board of directors, guidance, authorization, supervision,
communication, internal control and risk management, self-discipline of the board of directors, and other items
such as the procedure of board meetings and the support systems. The Association has issued the evaluation
report on January 25, 2021. The Company submitted the comments and suggestions given by the Association
and the expected measures to the Corporate Governance and Sustainable Development Committee and
the Board of Directors on March 10, 2021. Followings are the general comments, suggestions and expected
measures by the Association and the Company's response:
The Company has disclosed at the Association's assessment on the website
http://www.chaileaseholding.com/EN/ugC_AboutUs02-02.asp
General Comments
1. In order to strengthen corporate governance and promote the sound development of the composition and structure of the board
of directors, your Company has diversified the composition of the board, including diversifying the gender, career background, and
the ethnicity and nationality of the directors.
2. Your Company invited a third-party professional organization to assist in the performance evaluation of the board of directors
for the second time. Your Company has responded positively to the previous suggestions for improvement and disclosed the
improvement measures in the annual report, showing that your Company's board of directors is proactive in implementing the
corporate governance and improving the effectiveness of the board of directors.
3. The independent directors of your Company are all actively served their profession in the board of directors. Except for statutory
meetings, all three of the independent directors interacted closely with the Company's management by telephone, E-mail, etc.
despite the restrictions on travel.
4. The formation of your Company's strategy is through the idea of the annual strategy meeting, discussion by the management
committee, and finally the board of directors for decision-making. The decision-making process helps to give full play to the board's
function of formulating strategies.
5. In 2018, your Company made organizational adjustments and upgraded the "Corporate Governance and Sustainability Committee"
to a functional committee of the board of directors. In 2020, the "Risk Management Committee" was also established under the
chairman of the board of directors to strengthen the participation of the board of directors. It demonstrated that the eternal
development and risk management for the enterprise are highly valued by your Company, and the functional committees are duly
used.
Suggestions Expected Measures
1. Your Company has prepared the CSR/Sustainability The disclosure scope of the CSR report prepared by the Company
reports following Global Reporting Initiative (GRI) includes Chailease Holdings and its subsidiaries. The Company will
standards since 2012 and has disclosed the reports on continue to include and fully disclose relevant information regarding
the website of the Company. The Company has also set the holding company and its subsidiaries in accordance with the
up a Corporate Social Responsibility hotline/ mailbox, in recommendations.
order to collect shareholders' opinions. However, since
your Company is a holding company, it is recommended
to include the implementation status of the subsidiaries
in the CSR report to fully disclose information for
shareholders to understand the implementation of the
environment, society and governance of the subsidiaries.
34
2. Your Company appointed two new independent The Company will establish internal regulations for the orientation and
directors in 2020. In order to familiarize the newly training process based on the experience in 2020, so the Company may
appointed independent directors with the Company's conduct orientation for new directors accordingly in the future.
business and directors' responsibilities, the Corporate

Governance Officer, audit department, and human
resources department jointly introduced relevant
information to the newly appointed directors. However,
the orientation training for new directors has not been
regulated and specified by internal policies or working
procedures. It is recommended that internal regulations
be formulated for the training process, so the Company
may conduct orientation for new directors accordingly in
the future.
Suggestions Expected Measures
3. The Compensation Committee of your Company decides 1. The " Employee Performance Measurement and Performance Appraisal
the salary and compensation of the management based Policy " of the Company is also applicable to senior executives; in order
on the sales target and sales growth rate to strengthen to fulfill social responsibility and promote sustainable environment, in
the link between the performance appraisal and salary recent years, ESG, corporate governance and other strategic and long-
of the management. It is recommended that your term performance indicators have also been included in the Policy.
Company may keep relevant records of the Salary 2. Relevant per formance appraisal and the reasonableness of
and Compensation Committee, and can also consider remuneration are reviewed by the Salar y and Compensation
formulating related performance evaluation methods, Committee and the Board of Directors, and the remuneration system is
and incorporate strategic and long-term performance reviewed in a timely manner based on the actual operating conditions
indicators (such as ESG and corporate governance) into and relevant laws and regulations, in order to strike a balance between
the performance evaluation. the Company's sustainable operation and risk control.
12 Board meetings were held in 2021. The attendance record of the each Director is as follows:
Actual
Actual Proxy
Position Name attendance Remarks
attendance attendance
(%)
Fong-Long Chen (authorized representative of
Chairman 12 0 100.00%
Chun An Investment Co., Ltd.)
Andre J. L. Koo
Director (authorized representative of Chun An Investment 12 0 100.00%
Co., Ltd.)
Director Chee Wee Goh 12 0 100.00%
King Wai Alfred Wong (authorized representative
Director 12 0 100.00%
of Chun An Technology Co., Ltd.)
Hsiu-Tze Cheng (authorized representative of
Director 12 0 100.00%
Chun An Technology Co., Ltd.)
Chih Yang Chen (authorized representative of Li
Director 12 0 100.00%
Cheng Investment Co., Ltd.)
Independent
Steven Jeremy Goodman 12 0 100.00%
Director
Independent
Casey K. Tung 12 0 100.00%
Director
Independent
Ching-Shui Tsou 11 1 91.67%
Director
35
Other matters that require reporting:
(1) If any of the following circumstances applies during the operation of the Board of Directors, the Company shall
indicate the date, the period, the contents, the opinions of all Independent Directors, and the responses of the
Company to the opinions of the Independent Directors:
① Any matters listed in Article 14-3 of "Securities and Exchange Act":
Matters listed Independent
in Article 14-3 Director had
Meeting Date The resolutions of "Securities a dissenting
and Exchange opinion or
Act" qualified opinion
• To consider and approve the issuance of Guarantee of the incremental
Independent
syndicated loan of USD 100 million granted to Chailease Royal Leasing
Director did not
Plc. and Chailease Royal Finance Plc., two 60% owned subsidiaries of
V have a dissenting
Chailease Holding Company Limited in favor of Co-ordinate Arrangers Mega
opinion or
International Commercial Bank, Far Eastern International Bank Ltd., Bank of
qualified opinion
East Asia, Limited and Hua Nan Bank.
Independent
Director did not
syndicated loan of RM 300 million granted to Chailease Berjaya Credit Sdn.
V have a dissenting
Bhd., a seventy percent owned subsidiary of Chailease Holding Company
opinion or
Limited, in favor of Arranger, CIMB Bank Berhad.
qualified opinion
• To consider and approve the issuance of Guarantee of the incremental Independent
banking facilities of USD 10 million granted to Chailease Berjaya Credit Sdn. Director did not
Bhd., a seventy percent owned subsidiary of Chailease Holding Company V have a dissenting
Limited, in favor of Mega International Commercial Bank Co., Ltd. Labuan opinion or
Branch. qualified opinion
Independent
• To consider and ratify the issuance of Guarantee of the incremental
Director did not
banking facilities of PHP 500 million granted to Chailease Berjaya Finance
V have a dissenting
Corporation, a 63.08% owned subsidiary of Chailease Holding Company
opinion or
Limited, in favor of Mizuho Bank, Ltd., Manila Branch.
qualified opinion
January 19th (the • To consider and ratify the issuance of Guarantee of the incremental Independent
1st Meeting of banking facilities of PHP 400 million granted to Chailease Berjaya Finance Director did not
January 2021) Corporation, a 63.08% owned subsidiary of Chailease Holding Company V have a dissenting
Limited, in favor of Mega International Commercial Bank Co., Ltd., Manila opinion or
Independent
• To consider and ratify the issuance of Guarantee of the incremental banking
Director did not
facilities of USD 5 million granted to Chailease Royal Finance Plc., sixty
V have a dissenting
percent owned subsidiary of Chailease Holding Company Limited, in favor
opinion or
of Bangkok Bank Public Company Limited.
qualified opinion
Independent
Director did not
facilities of USD 10 million granted to Chailease Royal Finance Plc., a sixty
V have a dissenting
opinion or
of Sumitomo Mitsui Banking Corporation.
qualified opinion
Independent
Director did not
facilities of USD 10 million granted to Chailease Royal Leasing Plc., a sixty
V have a dissenting
opinion or
qualified opinion
Opinions from Independent Directors: None
The Company's response to the opinions from Independent Directors: None
Resolution: The Board unanimously approved the proposal.
36

Independent
Director did not
banking facilities of USD 10 million granted to Chailease Royal Leasing Plc.
V have a dissenting
and Chailease Royal Finance Plc., both sixty percent owned subsidiaries of
opinion or
Chailease Holding Company Limited, in favor of Taishin International Bank.
qualified opinion
Independent
Director did not
banking facilities of USD 10 million granted to Chailease International
V have a dissenting
Company (Malaysia) Limited, wholly owned subsidiary of Chailease Holding
opinion or
Company Limited, in favor of Taishin International Bank.
qualified opinion
Independent
Director did not
banking facilities of RMB 260 million granted to Chailease International
V have a dissenting
Finance Corporation, a 97.8854% owned subsidiary of Chailease Holding
opinion or
Company Limited, in favor of MUFG Bank (China) Ltd.
qualified opinion
Independent
March 10th (the • To consider and approve the issuance of Guarantee of the incremental
Director did not
1st Meeting of banking facilities of RMB 585 million granted to Chailease International
V have a dissenting
March 2021) Finance Corporation, a 97.8854% owned subsidiary of Chailease Holding
opinion or
Company Limited, in favor of Standard Chartered Bank (China) Limited.
qualified opinion
Independent
Director did not
banking facilities of RM 150 million granted to Chailease Berjaya Credit Sdn.
V have a dissenting
opinion or
Limited, in favor of Mizuho Bank (Malaysia) Berhad.
qualified opinion
Independent
• To consider and ratify the issuance of Guarantee of the incremental
Director did not
V have a dissenting
opinion or
Limited, in favor of Hua Nan Commercial Bank Ltd., Manila Branch.
qualified opinion
Independent
• To approve the proposed capitalization of retained earnings for issuing Director did not
69,066,401 new common shares. The capital of the Company will increase to V have a dissenting
NTD 14,503,944,320 with 1,450,394,432 shares. opinion or
qualified opinion
Independent
• To consider and approve to inject the capital of no more than USD 8.5 Director did not
million into its 100% owned subsidiary, Chailease International Company V have a dissenting
March 25th (the (Hong Kong) Limited in installments. opinion or
2nd Meeting of qualified opinion
March 2021) Independent
Director did not
banking facilities of RM 40 million granted to Chailease Berjaya Credit Sdn.
V have a dissenting
opinion or
Limited, in favor of Sumitomo Mitsui Banking Corporation Malaysia Berhad.
qualified opinion
37
Independent
Director did not
V have a dissenting
opinion or
Limited, in favor of MUFG Bank, Ltd. Manila Branch.
qualified opinion
Independent
Director did not
V have a dissenting
May 13th (the 1st opinion or
Limited, in favor of Bank of the Philippine Islands (BPI).
Meeting of May qualified opinion
2021) Independent
Director did not
banking facilities of USD 15 million granted to Chailease Royal Finance Plc.,
V have a dissenting
a sixty percent owned subsidiary of Chailease Holding Company Limited, in
opinion or
favor of Jih Sun International Bank.
qualified opinion
Independent
Director did not
syndicated loan of JPY 13.3 billion granted to Chailease International
V have a dissenting
opinion or
Company Limited, in favor of Arrangers Mizuho Bank, Ltd.
qualified opinion
Independent
May 28th (the 3rd Director did not
Meeting of May • To consider and approve the provision of the Company's "Clawback Policy"
V have a dissenting
2021) for the Top Managers.
opinion or
qualified opinion
• To consider and approve the issuance of Guarantee of the incremental joint Independent
banking facilities of USD 10 million granted to Chailease Royal Leasing Director did not
Plc. and Chailease Royal Finance Plc., sixty percent owned subsidiaries V have a dissenting
of Chailease Holding Company Limited, in favor of Mega International opinion or
Commercial Bank. qualified opinion
Independent
• To consider and approve the issuance of Guarantee of the banking facilities
Director did not
of USD 10 millio granted to Chailease Royal Leasing Plc., a sixty percent
V have a dissenting
owned subsidiary of Chailease Holding Company Limited, in favor of Bank
June 21st (the 1st Sinopac Co., Ltd. opinion or
Meeting of June qualified opinion
2021) Independent
Director did not
of USD 10 million granted to Chailease Royal Finance Plc., a sixty percent
V have a dissenting
owned subsidiary of Chailease Holding Company Limited, in favor of Bank
opinion or
Sinopac Co., Ltd.
qualified opinion
38

Independent
Director did not
V have a dissenting
Company (Malaysia) Limited, an wholly owned subsidiary of Chailease
opinion or
Holding Company Limited, in favor of Bank Sinopac Co., Ltd.
qualified opinion
Independent
Director did not
banking facilities of USD 30 million granted to Chailease Royal Leasing Plc.,
V have a dissenting
July 19th (the 1st opinion or
favor of Mizuho Bank, Ltd. OBU Branch.
Meeting of July qualified opinion
2021) Independent
Director did not
V have a dissenting
opinion or
favor of Mizuho Bank, Ltd. OBU Branch.
qualified opinion
Independent
Director did not
syndicated loan of USD 120 million granted to Chailease Berjaya Credit Sdn.
V have a dissenting
opinion or
Limited, in favor of Ordinate Arranger Mega International Commercial Bank.
qualified opinion
banking facilities of no more than RMB 475 million (the "Facilities") granted Director did not
to Chailease International Finance Corporation (the "Borrower"), a 97.8854% V have a dissenting
owned subsidiary of Chailease Holding Company Limited, in favor of OCBC opinion or
Bank, Hong Kong Branch. qualified opinion
Independent
Director did not
V have a dissenting
opinion or
Company Limited, in favor of CIMB Bank Berhad Shanghai Branch.
qualified opinion
Independent
Director did not
V have a dissenting
August 26th (the opinion or
1st Meeting of qualified opinion
August 2021) Independent
Director did not
facilities of USD 30 million granted to Chailease Royal Leasing Plc., a sixty
V have a dissenting
opinion or
qualified opinion
Independent
Director did not
facilities of USD 30 million granted to Chailease Royal Finance Plc., a sixty
V have a dissenting
opinion or
qualified opinion
Independent
Director did not
V have a dissenting
opinion or
Limited, in favor of Bank of the Philippine Islands (BPI).
qualified opinion
39
Independent
Director did not
V have a dissenting
opinion or
favor of Chang Hwa Commercial Bank, Ltd.
qualified opinion
Independent
Director did not
banking facilities of USD 5 million granted to Chailease Royal Finance Plc., a
V have a dissenting
sixty percent owned subsidiary of Chailease Holding Company Limited, in
opinion or
favor of Chang Hwa Commercial Bank, Ltd.
qualified opinion
September 30th • To consider and approve the issuance of Guarantee of the incremental Independent
(the 1st Meeting banking facilities of USD 10 million granted to Chailease Royal Leasing Plc., Director did not
o f S e p t e m b e r a sixty percent owned subsidiary of Chailease Holding Company Limited, in V have a dissenting
2021) opinion or
favor of Hua Nan Bank, OBU Branch.
qualified opinion
Independent
Director did not
banking facilities of USD 8 million granted to Chailease Royal Finance Plc., a
V have a dissenting
sixty percent owned subsidiary of Chailease Holding Company Limited, in
opinion or
favor of Hua Nan Bank, OBU Branch.
qualified opinion
Independent
• To consider and approve the capital injection of USD 250 million in Director did not
installments into 100% owned subsidiary, Chailease International Company V have a dissenting
(Malaysia) Limited (incorporated in Malaysia). opinion or
qualified opinion
Independent
Director did not
• To consider and approve the establishment of the Company's "Stock
V have a dissenting
Ownership Guidelines"
opinion or
qualified opinion
Independent
Director did not
• To consider and approve the establishment of the Company's "Officers
V have a dissenting
Stock Ownership Trust Plan".
opinion or
qualified opinion
November 12th • To consider and approve the issuance of Guarantee of the incremental Independent
(the 1st Meeting banking facilities of USD 20 million granted to Chailease International Director did not
of November Company (Malaysia) Limited, an wholly owned subsidiary of Chailease V have a dissenting
2021) Holding Company Limited, in favor of The Bank of East Asia, Limited, opinion or
Offshore Banking Branch. qualified opinion
Independent
Director did not
V have a dissenting
Company (Malaysia) Limited, wholly owned subsidiary of Chailease Holding
opinion or
Company Limited, in favor of Taishin International Bank.
qualified opinion
Independent
Director did not
banking facilities of USD 10 million granted to Chailease Royal Leasing Plc.
V have a dissenting
and Chailease Royal Finance Plc., both sixty percent owned subsidiaries of
opinion or
Chailease Holding Company Limited, in favor of Taishin International Bank.
qualified opinion
40

Independent
• To consider and appoint Messrs. Lin, Wan-Wan and Hsu, Shu-Min, the Director did not
partners of KPMG, Taipei, as the auditors of the Company for the financial V have a dissenting
year of 2022. opinion or
qualified opinion
Independent
Director did not
• To consider and approve the audit and professional fee amounting to NTD
V have a dissenting
7,370,000 charged by KPMG, Taipei, for the financial year of 2021.
opinion or
qualified opinion
syndicated loan of USD 350 million granted to Chailease International Director did not
Finance Corporation, a 97.8854% owned subsidiary of Chailease Holding V have a dissenting
Company Limited, in favor of Co-ordinate Arrangers Taishin International opinion or
Bank Co., Ltd. qualified opinion
banking facilities of RMB 180 million granted to Chailease International Director did not
Company Limited, in favor of Hang Seng Bank (China) Limited Shanghai opinion or
banking facilities of RMB 100 million granted to Chailease International Director did not
Company Limited, in favor of Bangkok Bank (China) Company Limited opinion or
Shanghai Branch. qualified opinion
December 9th Independent
(the 1st Meeting Director did not
of December V have a dissenting
2021) opinion or
Limited, in favor of Yuanta Savings Bank Philippines, Inc.
qualified opinion
• To consider and ratify the issuance of Guarantee of the incremental Independent
banking facilities of PHP 400 million granted to Chailease Berjaya Finance Director did not
Corporation, a 63.08% owned subsidiary of Chailease Holding Company V have a dissenting
Limited, in favor of Mega International Commercial Bank Co., Ltd., Manila opinion or
Independent
Director did not
of USD 14.5 million granted to Chailease Berjaya Credit Sdn. Bhd., a seventy
V have a dissenting
opinion or
of Sumitomo Mitsui Banking Corporation Labuan Branch.
qualified opinion
Independent
Director did not
V have a dissenting
opinion or
favor of MUFG Bank, Ltd. OBU Branch.
qualified opinion
Independent
Director did not
V have a dissenting
opinion or
favor of MUFG Bank, Ltd. OBU Branch.
qualified opinion
② In addition to the aforementioned matters, if there is any written or otherwise recorded resolution on which
an Independent Director has a dissenting opinion or qualified opinion: None.
41
(2) Recusals of Directors due to conflicts of interests in 2021.
1. The Board of Directors meeting held on May 28, 2021
The Name of the Directors: Fong-Long Chen
The content of the proposal: To consider and approve the provision of the Company's "Clawback Policy" for
the Top Managers.
The reason of recusals: Fong-Long Albert Chen is one of the Officers defined in "Clawback Policy".
Participation in voting: The above mentioned Director recused himself from the discussion and voting.
Chairman, Mr. Fong-Long Albert Chen, designated Independent Director Mr. Casey K. Tung as the
chairperson for this proposal.
2. The Board of Directors meeting held on November 12, 2021
The Name of the Directors: Fong-Long Chen and Hsiu Tze Cheng
The content of the proposal: To consider and approve the establishment of the Company's "Stock
Ownership Guidelines".
The reason of recusals: Fong-Long Chen and Hsiu Tze Cheng are covered in "Stock Ownership Guidelines".
Participation in voting: The above mentioned Directors recused themselves from the discussion and
voting. Chairman, Mr. Fong-Long Albert Chen, designated Independent Director Mr. Casey K. Tung as the
3. The Board of Directors meeting held on November 12, 2021
The Name of the Directors: Fong-Long Chen and Hsiu Tze Cheng
The content of the proposal: To consider and approve the establishment of the Company's "Officers Stock
Ownership Trust Plan".
The reason of recusals: Fong-Long Chen and Hsiu Tze Cheng are covered in "Officers Stock Ownership Trust
Plan".
Participation in voting: The above mentioned Directors recused themselves from the discussion and
voting. Chairman, Mr. Fong-Long Albert Chen, designated Independent Director Mr. Casey K. Tung as the
(3) Measures taken to strengthen the functionality of the Board: The Company's Board of Directors has established
an Audit Committee and a Compensation Committee to assist the Board in carrying out its various duties. For
further information regarding the operations of the Audit Committee and Compensation Committee please
refer to page 42 to page 51.
(4) The Finance Accounting Officer and the Internal Audit Officer have attended the Board meetings, presented
the results of financial statements and the findings of all audit reports in the quarterly Board meetings, and
maintained functional communication with the Board of Directors.
2. The state of operations of the Audit Committee:
9 Audit Committee meetings were held in 2021. The attendance record of each Independent Director is as follows:
Actual Proxy Actual
Position Name Remarks
attendance attendance attendance (%)
Independent Director Steven Jeremy Goodman 9 0 100.00%
Independent Director Casey K. Tung 9 0 100.00%
Independent Director Ching-Shui Tsou 8 1 88.89%
42
Other matters that require reporting:
(1) If any of the following circumstances applies during the operation of the Audit Committee, the Company shall
indicate the date, the period, the contents, dissenting opinion or qualified opinion of Independent Directors,

the resolution of the Audit Committee, and the responses of the Company to the resolution of the Audit
Committee:
① Any matters listed in Article 14-5 of "Securities and Exchange Act".
Independent
syndicated loan of USD 100 million granted to Chailease Royal Leasing Plc.
Director did not
and Chailease Royal Finance Plc., two 60% owned subsidiaries of Chailease
V have a dissenting
Holding Company Limited in favor of Co-ordinate Arrangers Mega
opinion or
International Commercial Bank, Far Eastern International Bank Ltd., Bank of
January 19th qualified opinion
East Asia, Limited and Hua Nan Bank.
(the 1st Audit
Independent
committee • To consider and approve the issuance of Guarantee of the incremental
Director did not
meeting of syndicated loan of RM 300 million granted to Chailease Berjaya Credit Sdn.
V have a dissenting
January 2021) Bhd., a seventy percent owned subsidiary of Chailease Holding Company
opinion or
Limited, in favor of Arranger, CIMB Bank Berhad.
qualified opinion
Resolution of Audit Committee (January 19th, 2021): The Audit Committee unanimously approved the proposal.
The Company's response to the opinions from Audit Committee: The Board unanimously approved the proposal.
Independent
Director did not
• To discuss the consolidated financial statements prepared by the Company
V have a dissenting
for the year ended 31st December, 2020.
opinion or
qualified opinion
Independent
• To consider and approve the Company's audited consolidated financial Director did not
statements and the Independent Auditor's Report for the year ended 31st V have a dissenting
December, 2020. opinion or
qualified opinion
Independent
• To approve the proposed capitalization of retained earnings for issuing Director did not
March 25th 69,066,401 new common shares. The capital of the Company will increase V have a dissenting
(the 2nd Audit to NTD 14,503,944,320 with 1,450,394,432 shares. opinion or
committee qualified opinion
meeting of March
2021) Independent
• To consider and confirm the effectiveness of design and operation of the Director did not
internal control system of the Company and approve the Internal Control V have a dissenting
System Statement of the Company for the year of 2020. opinion or
qualified opinion
Independent
• To consider and approve to inject the capital of no more than USD 8.5 Director did not
million into its 100% owned subsidiary, Chailease International Company V have a dissenting
(Hong Kong) Limited in installments. opinion or
qualified opinion
Resolution of Audit Committee (March 25th, 2021): The Audit Committee unanimously approved the proposal.
Independent
Director did not
syndicated loan of JPY 13.3 billion granted to Chailease International
May 28th (the 2nd Finance Corporation, a 97.8854% owned subsidiary of Chailease Holding V have a dissenting
Audit committee opinion or
Company Limited, in favor of Arrangers Mizuho Bank, Ltd.
meeting of May qualified opinion
2021) Resolution of Audit Committee (May 28th, 2021): The Audit Committee unanimously approved the proposal.
43
Independent
• To consider and approve the Company's audited consolidated financial Director did not
statements and the Independent Auditor's Audit Report for the first half V have a dissenting
year ended June 30, 2021. opinion or
qualified opinion
Independent
Director did not
syndicated loan of USD 120 million granted to Chailease Berjaya Credit Sdn.
V have a dissenting
opinion or
Limited, in favor of Ordinate Arranger Mega International Commercial Bank.
qualified opinion
banking facilities of no more than RMB 475 million (the "Facilities") granted Director did not
August 26th to Chailease International Finance Corporation (the "Borrower"), a 97.8854% V have a dissenting
(the 1st Audit owned subsidiary of Chailease Holding Company Limited, in favor of OCBC opinion or
committee Bank, Hong Kong Branch. qualified opinion
meeting of August
2021) Independent
Director did not
V have a dissenting
opinion or
Company Limited, in favor of CIMB Bank Berhad Shanghai Branch.
qualified opinion
Independent
Director did not
V have a dissenting
opinion or
qualified opinion
Resolution of Audit Committee (August 26th, 2021): The Audit Committee unanimously approved the proposal.
Independent
• To consider and approve the capital injection of USD 250 million in Director did not
November 12th installments into 100% owned subsidiary, Chailease International Company V have a dissenting
(the 1st Audit (Malaysia) Limited (incorporated in Malaysia). opinion or
meeting of
November 2021) Resolution of Audit Committee (November 12th, 2021): The Audit Committee unanimously approved the proposal.
Independent
• To consider and appoint Messrs. Lin, Wan-Wan and Hsu, Shu-Min, the Director did not
partners of KPMG, Taipei, as the auditors of the Company for the financial V have a dissenting
year of 2022. opinion or
qualified opinion
Independent
Director did not
December 9th • To consider and approve the audit and professional fee amounting to NTD
V have a dissenting
(the 1st Audit 7,370,000 charged by KPMG, Taipei, for the financial year of 2021.
opinion or
meeting of
December 2021) • To consider and approve the issuance of Guarantee of the incremental Independent
syndicated loan of USD 350 million granted to Chailease International Director did not
Company Limited, in favor of Co-ordinate Arrangers Taishin International opinion or
Bank Co., Ltd. qualified opinion
Resolution of Audit Committee (December 9th, 2021): The Audit Committee unanimously approved the proposal.
44
② In addition to the aforementioned matters, if there is any resolution which was not approved by the Audit
Committee but was approved by two-thirds or more of all Directors: None.
(2) There were no recusals of Independent Directors due to conflicts of interests in 2021.

(3) Descriptions of the communications between the Independent Directors, the Internal Auditors, and the
Independent Auditors in 2021 (shall include the channels, major issues and/or results of the audits on the
corporate finance and/ or operations):
① The Internal Auditors have sent the audit reports to the members of the Audit Committee periodically, and
presented the findings of all audit reports in the quarterly meetings of the Audit Committee. The Internal
Audit Officer will immediately report to the members of the Audit Committee any material matters. During
2021, the Internal Audit Officer did not report any such material matters. The communication channel
between the Audit Committee and the Internal Auditors functioned well.
② The Company's Independent Auditors have attended the Audit Committee meeting periodically and
presented the findings of their quarterly review or audits on the Company's financial results. Under
applicable laws and regulations, the Independent Auditors are also required to immediately communicate
to the Audit Committee any material matters that they have discovered. During 2021, the Company's
Independent Auditors did not report any irregularity. The communication channel between the Audit
Committee and the Independent Auditors functioned well.
(4) Key focus areas for audit committee:
The audit committee of the company consists of 3 independent directors. The audit committee aims to
establish sound corporate governance and strengthen the supervision function of the board of directors.
Key focus areas for audit committee in 2021
① The adoption of or amendments to the internal control system pursuant to Article 14-1 of the Securities
and Exchange Act.
② Assessment of the effectiveness of the internal control system.
③ Asset transactions or derivatives trading of a material nature.
④ Loans of funds, endorsements, or provision of guarantees of a material nature.
⑤ The offering, issuance, or private placement of equity-type securities.
⑥ The hiring or dismissal of a certified public accountant, or their compensation.
⑦ Annual financial reports and second quarter financial reports that must be audited and attested by a CPA,
which are signed or sealed by the chairperson, managerial officer, and accounting officer.
45
3. Corporate Governance Practice:
Corporate governance in the Company and the difference between its governance and the Corporate Governance
Best-Practice Principles for TWSE/GTSM Listed Companies and reasons
Deficiency
Evaluation Item Yes No Status
and reasons
i. Promulgation and disclosure of "the Best- Practice V The Best-Practice Principles on Corporate Governance" of the Company (modeling No major
Principles on Corporate Governance of the Company "the Best-Practice Principles on Corporate Governance for TWSE/GTSM Listed discrepancies
to comply with "the Best Practice Principles on Companies") has taken effect and been disclosed in the Company's website and the
Corporate Governance for TWSE/ GTSM Listed MOPS. The Company has revised the aforementioned Principle based on the content
Companies" from the latest version of Best-Practice Principles for TWSE/GTSM Listed Companies in
March, 2022.
ii. Shareholding structure and shareholders rights
(1) Methods of handling shareholder suggestions or V (1) The Company engages the shareholder services agent (Capital Securities (1)No major
complaints Corporation) for handling matters relating shareholder services, and maintains an discrepancies
e-mail account and responsible persons for dealing with shareholders' suggestions
and complaints.
(2) Information on controlling shareholders and V (2) The Company maintains a department and retains a company providing shareholder (2)No major
their finial beneficial owners services to keep track of controlling shareholders and their final beneficial owners. discrepancies
(3) Risk management mechanism and "firewall" V (3) The Company has promulgated and published "the Rules on the Management (3)No major
between the Company and its affiliates of Transactions by Affiliated Persons" to monitor the risk involved. The assets discrepancies
and properties are managed independently by each affiliate of the Company in
accordance with the internal control system of the Company. Risk control and
firewall are implemented and strictly enforced.
(4) Internal regulations preventing insiders of a V (4) The Company has promulgated and published the " Ethical Conduct Best Practice (4)No major
public company from using material and non- Principles," which amendment was approved by the Board of Directors on 12 discrepancies
public information to buy or sell stocks or other August, 2020 in accordance with external regulations, and "Procedures for Handling
equity securities of the company. Internal Material Information and Preventing Insider Trading" to regulate Company
insiders, who may acquire material and non-public information of the Company in
the trading on such information.
iii.Formation and responsibilities of the Board of
directors
(1) Any diversified policy or management target V (1) According to the "Procedures for Election of Directors and Supervisors" (1)No major
formulated by the BOD and the condition of the promulgated by Taiwan Stock Exchange Corporation on January 28, 2015, discrepancies
execution? the shareholders meeting of the Company established "the Rules Governing
the Election of Directors" on May 27, 2016. In accordance with Article 3 of the
aforementioned rules, the composition of the board of directors should take into
account its diversity, and there should be a diversified guideline as to its operation
and development, including, but not limited to: (1) gender, age, nationality, and
culture background; and (2) expertise (such as law, accounting, business, finance,
marketing and technology), skills, and experience. Such provision is also specified
in Article 20, Corporate Governance Best- Practice Principles. The aforementioned
two Rules and Principles have been published on the webpage of the Company.
http://www.chaileaseholding.com.tw/ ugC_Chapter. asp
In order to implement the diversity policy of the Board members, the percentage
of inside directors to all of the Board members is 33%; the outside directors is
33%, and the independent director is 33% as well. The percentage of female board
members is 11%. From the aspect of the age of Board members, three of the Board
members are between 71 and 80 years of age; three of them are between 61 and 70
years of age, and three of them are between 51 and 60 years of age. The diversity of
nationalities and professional ¬elds of the Board of Directors receives a vast amount
of the attention of the Company. The Company plans to add one new member
with different nationalities; and one new member with different professional
qualification, such as accounting, economic, or financial expertise, to the fourth
Board of Directors. The backgrounds of the Board members manifest their diversity
on various areas of expertise: (1) expertise in business and management: Fong-
Long Chen, Andre J.L. Koo, Chee Wee Goh, King Wai Alfred Wong, Hsiu-Tze Cheng,
Ching-Shui Tsou and Casey K. Tung;(2) expertise in finance: Ching-Shui Tsou and
Casey K. Tung; (3) expertise in global communication & international relations:
Chih-Yang Chen (4) expertise in science and technology: Fong-Long Chen and Chee
Wee Goh (5) expertise in litigation and tax law, and law: Steven Jeremy Goodman
In terms of gender diversity, in addition to setting the company's goal of having
at least one female director, the medium- and long-term goal is that the company
and its subsidiaries have more than one-third of the company with female directors
and supervisors. With regard to female representation in the Board, the special
shareholders meeting in August, 2017 approved two additional directors to the
Board, one of whom is a female. Until now, the Company still maintains the policy
to have one female director.
46
Deficiency
and reasons
In the Company's Director Candidate Reserve Plan, the selection is based on criteria
including but not limited to the following: (1) Possess industry experience related

to the company. (2) Personality traits should be consistent with the company's core
values such as value, growth, integrity, discipline, and have professional knowledge
and skills related to business management. (3) Set up at least one female
director, and the professional background must include corporate strategy, legal,
accounting, industry, finance, marketing or technology. (4) It is expected that the
joining of this member can provide the company with an effective and diversified
board of directors that meets the needs of the Company.
(2) Any functional committees set up voluntarily V (2) Besides setting the audit and compensation committees, the Board of Chailease (2)No major
besides the audit and compensation committees? Holding, by resolution on December 14 of 2018, approved the proposal for discrepancies
establishing a "Corporate Governance and Sustainability Committee ("the
Committee") at the helm of the Board of the Directors, replacing the "Corporate
Governance and Ethical Corporate Management Committee" at the helm of the
chairman of the board of directors.
(3) Is there any assessment methods set up for board's V (3) The compensation committee of the Company reviewed the directors and (3)No major
performance and annual evaluation? Are the managers performance regularly and revised the salary remuneration policies, discrepancies
results of the performance evaluation report to systems, standards and structure in accordance with evaluation result. The
the board of directors, and to serve as a reference Company has formulated the "Regulations Governing Evaluation of the
for individual directors' remuneration and renewal Performance of the Board of Directors" in 2016. We conduct regularly scheduled
nomination? performance assessments of the board of directors each year and engage outside
professional institutions to conduct such performance assessments every three
years. (Please refer to the (III)、(3)、The External Evaluation on the Performance of
the Board of Directors.) The Company revised "the Rules on the Evaluation of the
Performance of the Board of Directors," and the questionnaires and submitted for
the Corporate Governance and Sustainability Committee's approval on 10 March,
2021. Besides adding quantitative standards and calculation examples of the board
of directors, functional committees and individual directors' individual performance
evaluation in order to review the salary of the members of the Board of the
Directors via each performance evaluation, the performance evaluation is also
conducted through self- assessment and peer-to-peer assessments. These methods
and revisions aim to further enhance the participation of the functional committee
in the company's operations and the quality of decision-making. The remuneration
of directors (including independent directors) and company executives are given
in accordance with the company's articles of association. Directors' remuneration
is linked to company performance and directors' performance. The remuneration
of independent directors is determined by the board of directors with reference to
industry standards. The company is planning to collect stakeholders' opinions on
remuneration, including remuneration policies and recommendations, and other
voting results. The Company would use the performance of individual directors as a
reference for remuneration and renewal nomination.
(4) Regular evaluation of CPAs' independence V (4) We choose a professional and creditable accounting firm who's CPA is not involved (4)No major
in any interest of the Company. The appointment, dismissal and compensation of discrepancies
the CPA should be evaluated by Audit Committee and approved by the Board of
Directors every year.
iv. Does the Company appoint a unit and appropriate V The Corporate Governance and Sustainability Committee ("the Committee") No major
number of personnel, and appoint a corporate submitted the execution report to the Board of the Directors twice at the middle and discrepancies
governance officer responsible for corporate the end of the year. The Company will increase the number of meetings according
governance related works, including furnishing to actual needs. Recent execution reports have been submitted in the Committee in
materials for carrying out the duties of directors June, 2021., including the Seventh Corporate Governance Evaluation administered
and corporate auditors, overseeing matters relating by the Taiwan TWSE, the self-assessment results of the Eighth Corporate Governance
to conducting the meetings of the board of Evaluation, and the results of self-assessment on the performance of the Board of the
directors and shareholders, assisting the directors Directors and each completed project in relation to the corporate governance.
and supervisors to follow laws and applying for To respond to the amendment of the Company Act in the future and the Corporate
corporate registration and its updates, compiling Governance 3.0 -Sustainable Development Roadmap promoted by the Financial
the minutes of the meetings of the board of Supervisory Commission, ROC. The Company appointed a chief corporate governance
directors and shareholders. officer in charge of corporate governance affairs in 2018, including but not limited to
handling matters relating to board meetings and shareholders meetings according
to laws, producing minutes of board meetings and shareholders meetings, assisting
in onboarding and continuous development of directors, furnishing information
required for business execution by directors, assisting directors with legal compliance,
and conducting other matters set out in the articles or corporation or contracts, in
order to assist the Company in meeting its social and corporate ethics responsibilities,
maintaining the highest standards of corporate governance and complying with
applicable laws and regulations.
47
Deficiency
and reasons
The 2021 annual work plan of the corporate governance officer includes the following
items:
1. Handling 12 meetings of the board of directors, 13 meetings of functional
committees, and 1 meeting of shareholders in accordance with the law
2. Assisting the directors and supervisors in conducting 6-hour internal and external
training and continuing education.
3. Providing necessary documents and information to independent directors for the
performance of their duties, which includes the manual of independent directors,
advocacy for new directors, and Corporate Governance 3.0.
4. Assisting directors with legal compliance: Amend the "Regulations Governing
Evaluation of the Performance of the Board of Directors", "Human Rights Policy",
"Risk Management Policy", "Personal Information Protection Policy" and the "Article
of the Corporate Governance and Sustainability Committee" in the first half year
of 2021. And submit the amendment of the "Regulations Governing Evaluation of
the Performance of the Board of Directors" and the "Regulations for Vendors' Social
Responsibilities" in the second half year of 2021.
5. Other matters set out in the articles or corporation or contracts.
The 2021 Annual Training Plans of the corporate governance officer are as follows:
In accordance of the external laws and regulations, the corporate governance officer
must attend mandatory training program for 18 hours in the first year.
Until the publication of the annual report, the chief corporate governance officer
has attended the seminar on issues with regard to the risk management in corporate
governance, trade secret, business mergers and acquisitions, transactions with
related parties and the fiduciary duty by Board of Directors for 15 hours in total
currently.
v.. Does the Company establish a channel of V The Company understands the value of good communication between the No major
communication between the stakeholders stakeholders. Besides establishing an Investor Relations webpage on the discrepancies
(including but not limited to shareholders, official website, the Company also required the Department of Audit, Human
employees, customers and venders), and set up an Resource, Investor Relations, Customer Service, and General Affairs to establish a
Investor Relations webpage on the official website communication channel between the stakeholders separately and independently
of the Company, in order to respond inquires of based on the topics and the importance of the involved issues.
the stakeholders which concerning the issues of In addition, in order to properly respond to the inquires of the stakeholders, the
corporate social responsibility? Company not only tries to obtain the opinions of the stakeholders with regard to the
corporate social responsibility by using online questionnaires, but also discloses the
CSR performance of the Company on the official website, so the interested parties
can have a better understanding of the related issues. Furthermore, the Company
set up hotlines and email box improve the efficiency of communication, and to fully
respond to the feedback of the stakeholders.
On December 13, 2019, the Company reported to the board of directors on the
communication with various stakeholders, the issues including communication
channels and response of the Company's shareholders, employees, customers and
vendors. The Company plans to report relevant information to the board of directors
at least once a year, and immediately release relevant information on the official
website.
http://www.chaileaseholding.com/CSR/CSR-03-02.asp
vi.Delegation of works relating to shareholders V The Company retains Capital Securities Corporation for handling matters relating to No major
meeting to a professional shareholder services shareholder services. discrepancies
agent.
vii. Information Disclosure
(1) A website where information on financial V (1) The Company maintains an English website and continues to offer information on (1)No major
operations and corporate governance is financial operations and corporate governance. discrepancies
disclosed
(2) Other information disclosure channels (e.g., V (2) The Company is a foreign company, registered according to the laws of the Cayman (2)No major
English website, responsible people dealing Islands and has established an online corporate information reporting system discrepancies
with collecting and disclosing information, the in order to fulfill the requirements for primary listing with the TWSE. A staff is
spokesperson system, or webcasting investor designated to deal with the collection and disclosure of information to ensure
conference). that any information which may influence investing decisions of shareholders and
stakeholders is disclosed in a timely manner.
Except for disclosing major information in both Chinese and English simultaneously;
the Company's disclosed its important financial and business information on the
official website in both Chinese and English as well, in order to treat domestic and
foreign shareholders equally.
Moreover, the Company maintains a spokesperson who speaks on behalf of the
Company.
(3) Does the Company announce and report the V (3) Report regularly according to the regulations (3)No major
annual financial statements within two months discrepancies
after the end of the fiscal year, and announce
and report the first, second, and third quarters
financial statements as well as operating status
of each month before the prescribed deadline?
48
Deficiency
and reasons
viii. Does the Company have other important V The result of the Sixth Corporate Governance Evaluation administered by the Taiwan No major
information that is helpful to understand Stock Exchange (TWSE) shows the Company ranked as one of the companies in the discrepancies

the Company's governance and operation tier of the top fifth percentile.
conditions (including but not limited to Currently, listed shares of the Company are selected as one of the constituent stocks
employee rights, employee care, investor in the TWSE Corporate Governance 100 Index.
relations, supplier relations, the rights of
stakeholders, the continuing education of
directors and supervisors, the implementation
of risk management policies and risk evaluation
standards, the implementation of customer
policies, and the company's purchase of liability
insurance for directors and supervisors, etc.)
ix. Describe the situations after improvement Situations after Improvement:
and the measures adopted for improvement (1) Index 2.22: Has the company adopted risk management policies and procedures that have been passed by the
concerning the indexes on which the Company board, and disclosed the scope of risk management, the corresponding organizational structure in place, and
was unsuccessful to score in the most recent the status of risk management operations?
Corporate Governance Evaluation administered The Chailease Holding's Risk Management Policy has been approved and passed by the Board of Directors
by the Corporate Governance Center of the on 13 May, 2021, and the Company shall disclose the information regarding the scope of risk management,
Taiwan Stock Exchange organizational structure and the implementation thereof on the website. The implementation of the Risk
Management Policy will be reported to the Board of Directors at least one time per year.
(2) Index 2.28: Has the company adopted an approval method for the recruitment, evaluation, and remuneration
of its internal auditors, whether by submission to the board for approval, or by submission by the chief internal
auditor to the chairman of the board for approval, and disclosed the method on the company's website?
The revision to Article 3 of "Corporate Governance Best- Practice Principles of Chailease Holding Co. Ltd. "
has been approved and passed by the Board of Directors on 26 August, 2021, which specifically stipulates
that the appointment, dismissal, evaluation and review, salary and compensation of internal auditors of the
company "shall" be reported to the board of directors or "shall" be submitted by the chief auditor to the board
chairperson for approval.
4. Operations of the Compensation Committee

(1) Authority and duties of the Committee:
① Determine and regularly review the policies, mechanism, standards, and elements in respect of the
performance
and remuneration of Directors and managers.
② Regularly assess and determine the remuneration of Directors and managers.
(2) The following principles should be complied with when exercising the above authority:
① In assessing the performance and remuneration of directors and managers, the remuneration standard of
the industry should be referred to as well as consider the reasonableness of the personal performance, the
Company's revenue performance and future risk.
② The Committee should not encourage the directors and managers to conduct any activities exceeding the
acceptable risk level of the Company in pursuit of higher remuneration.
③ In respect of the proportion of short term bonus and changes in the time of payment of remuneration
for directors and high-level managers, the Committee should consider the special characteristics of the
industry and the business nature of the Company.
(3) By March 31, 2020, there are 3 members of the Compensation Committee, namely the independent director,
Steven Jeremy Goodman,Casey K. Tung and Ching-Shui Tsou. Refer to our website for Compensation
Committee Charter of Chailease Holding Company Limited.
49
(4) Information on the Compensation Committee members
Qualifications
Position Concurrent post
Professional Qualification of independent
Requirements and Experience Independent Status (Note3) director in other
(Note2) public release
company
(Note1) Name
1. Work experience in the area of Mr. Goodman is an independent director and -
commerce, law and otherwise meet the conditions of independence, which
necessary for the business of includes but is not limited to whether the
the company, an instructor or independent director, spouse, or relative within
higher in a department of law the second degree of kinship is a director,
and other academic department supervisor, or employee of the company or
related to the business needs affiliates; the shares and percentage of shares
of the company in a public or held by the independent director, spouse,
private junior college, college, or relative within the second degree of kinship;
university and is an attorney. whether the independent director is a director,
Independent Steven Jeremy
2. Served as Berwin Leighton, supervisor, or employee of the company or
Director Goodman
Partner, Denton Wilde Sapte, any companies with specific affiliations to the
Partner, Jones Day, Partner, company; and compensation received by the
ResponzeTV PLC, Executive independent director for providing services
Chairman, Financial One Corp, to the company's commerce, law, finance, or
Independent Director. accounting department in the past two years.
3. Not been a person of any Pursuant to the requirements of the Listing Rules,
conditions defined in Article 30 of the Company has obtained a written statement
the Company Law. from each independent non-executive director
confirming the independence of himself and his
1. Work experience in the area Mr. Tung is an independent director and meet -
of commerce, law, accounting the conditions of independence, which includes
and otherwise necessary for the but is not limited to whether the independent
business of the company and is a director, spouse, or relative within the second
certified public accountant. degree of kinship is a director, supervisor, or
2. Served as Principal of Casey K. employee of the company or affiliates; the
Tung CPA office. shares and percentage of shares held by the
3. Not been a person of any independent director, spouse, relative within
conditions defined in Article 30 of the second degree of kinship; whether the
the Company Law. independent director is a director, supervisor,
Independent Casey K.
or employee of the company or any companies
Director Tung
with specific affiliations to the company; and
compensation received by the independent
director for providing services to the company's
commerce, law, finance, or accounting
department in the past two years. Pursuant
to the requirements of the Listing Rules, the
Company has obtained a written statement
from each independent non-executive director
1. Have the judgment in the area Mr. Tsou is an independent director and meet -
of commerce, law and otherwise the conditions of independence, which includes
necessary for the business of the but is not limited to whether the independent
company and is an instructor director, spouse, or relative within the second
or higher in a department of degree of kinship is a director, supervisor, or
commerce and other academic employee of the company or affiliates; the
department related to the shares and percentage of shares held by the
business needs of the company in independent director, spouse, relative within
a public or private junior college, the second degree of kinship; whether the
college, or university. independent director is a director, supervisor,
Independent
Ching Shui Tsou 2. Served as Senior Specialist of the or employee of the company or any companies
Director
Investment Commission, Ministry with specific affiliations to the company; and
of Economic Affairs, R.O.C. compensation received by the independent
3. Not been a person of any director for providing services to the company's
conditions defined in Article 30 of commerce, law, finance, or accounting
the Company Law. department in the past two years. Pursuant
to the requirements of the Listing Rules, the
Company has obtained a written statement
from each independent non-executive director
50
Note 1: State the working years, professional qualifications, experiences, and independence of members of the remuneration committee in the table. For independent directors,
add a note to refer readers to "Table I. Director & Supervisor Information (I) Related Information" on page OO. For the position field, please fill in Independent Directors or
Others (please add a note to indicate the convener).
Note 2: Professional Qualifications and Experiences: State the professional qualifications and experiences of individual members of the Compensation committee.

Note 3: Independence: State the independence of Compensation board members, which includes but is not limited to whether the member, spouse, or relative within the
second degree of kinship is a director, supervisor, or employee of the company or affiliates; the shares and percentage of shares held by the member, spouse, relative
within the second degree kinship(or held by the member under others' names); whether the member is a director, supervisor, or employee of the company or any
companies with specific affiliations to the company (please refer to Article 6 Paragraph 1 Subparagraphs 5~8 of the Regulations Governing the Appointment and Exercise
of Powers by the Remuneration Committee of a Company Whose Stock is Listed on the Taiwan Stock Exchange or the Taipei Exchange); and compensation received by
the independent director for providing services to the company's commerce, law, finance, or accounting department in the past two years.
(4) Information about the operations of the Compensation Committee:

① There are 3 members of the Compensation Committee of the Company.
② Tenure of current committee members(Forth session) : May 26 2020 to May 25, 2024. Three committee
meetings (Once in the Third Session [A'] and twice in the Forth Session [A"]) have been convened in the last
year and the attendance of committee members is described as follows:
［ The Forth Session ］

Actual Proxy
Position Name Actual attendance (%)
attendance Attendance
Convenor Steven Jeremy Goodman 3 0 100%
Committee member Casey K. Tung 3 0 100%
Committee member Ching-Shui Tsou 2 1 66.7%
Compensation The company decision for the Compensation

Motion contents and follow-up Decision
Committee Committee's comment
Forth Session Approved total compensation for All members of the Submit to the board of directors and got the
The Third time directors and managers in 2020 committee agreed approval by all the attending directors
110.03.25 (including employee and directors' with it
compensation)
Forth Session Stipulate "Clawback Policy" All members of the Submit to the board of directors and got the
The Forth time committee agreed approval by all the attending directors
110.05.28 with it
Forth Session 1. Stipulate "Stock Ownership
The Fifth time Guidelines" All members of the Submit to the board of directors and got the
110.11.12 2. Stipulate "Officers Stock Ownership committee agreed approval by all the attending directors
Trust Plan" with it
3. Formulating the performance
appraisal and compensation
structure for directors and managers
in 2021.
51
5. Implementation of sustainable development and difference from Sustainable Development Best Practice
Principles for TWSE/ TPEx Listed Companies and reasons thereof
Differences from
Status Description Sustainable
Development Best
Item Practice Principles
Yes No Summary for TWSE/ TPEx Listed
Companies and the
reasons
i Does the company formulate the V In order to deepen corporate governance, social responsibilities and sustainable No major
governance frame of the Corporate management, Chailease set up the Corporate Social Responsibility Team in 2013, the discrepancies
Responsibility & Sustainability and Corporate Social Responsibility Committee in 2014, the Corporate Governance and
establish a specific unit to promote Ethics Committee in 2016. Oversight over the past few years has brought significant
it? Does the Company authorize the progress and benefits. To meet external legal requirements and additional needs
senior management to administer? discovered during this oversight, in
And the condition of the supervision 2018 Chailease moved the Corporate Governance and Ethics Committee up the
from the BOD. organizational structure directly under the board of directors and renamed it the
Corporate Governance and Sustainable Development Committee (hereinafter referred
to as "the Committee").
The "Corporate Governance and Sustainable Development Committee" is composed
of 3 members, including the chairman and two independent directors. The chairman
serves as the chairman of the committee. ", "Customer Service", "Environmental
Protection", "Employee Care" and "Social Participation". The responsibilities of 12 units
in the company are divided and the team has a total of 25 supervisors and employees
to manage the corresponding issues and formulate action plans , to supervise and
control the goals and progress of each project group to implement sustainable project
implementation and review.
The " Corporate Governance and Sustainable Development Committee " is integrating
sustainable development into the company's business strategy, is responsible for
the review of corporate sustainability annual plans and strategic directions, and the
supervision and effectiveness review of various sustainability implementation plans,
and regularly reports this to the board of directors the company's sustainable strategy
and annual results. Include: Confirmed the annual report of 2020 corporate social
responsibility actions and results in 2021 June, Approve amendment to the articles of
Corporate Governance Best-Practice Principles in 2021 August, Confirmed 2021 Dow
Jones Sustainability Evaluation Results and ESG Performance in 2021 December.
ii Does the company conduct risk V 1. In 2020, the Company upgraded the risk management committee which originally No major
assessments on environmental, set in the important subsidiary: Chailease Finance Co., Ltd. to the committee under discrepancies
social and corporate governance the chairman of Chailease Holding Company Limited, to maintain a sound and
issues related to the company's efficient risk management mechanism. The Company also formulated the "Risk
operations and formulate relevant risk Management Policy" in 2020, which monitors and supervises financial business
management policies or strategies assets to ensure that the potential risks of all businesses are effectively managed.
based on the principle of materiality? For normal cases, the allowance for bad debts ratio shall also be adjusted according
to asset quality. The Company's Risk Management Policy was passed by the Board
of Directors on 13 May, 2021, which stipulated the scope of risk management,
organizational structure and the implementation status. In addition, the Company
and its subsidiaries also have risk assessment models for assessing credit risks of
customers. Such models are composed of corporate finance and micro- enterprise
credit risk assessment methods, and have been grant invention patents by Taiwan
Intellectual Property Office.
2. The Company conducts risk assessments on environmental, social and corporate
governance issues related to the company's operations in accordance with the
principle of materiality. The dimensions of the relevant risk management policies or
strategies are as follows:
(1) Credit Risk
Through our rigorous credit review and approval system, operating procedures,
the established credit rating and scoring system, and credit risk assessment
models, the Company is able to predict customers' default risks. By monitoring
the status of asset quality, prohibiting conduction of certain transactions with
specific industries, the Company can adjust its business strategies and credit
policies flexibly. The Company also enhance the abilities of risk assessment of the
employees through training and case study.
(2) Market Risk
By observing changes of interest rates and performing interest rate risk analysis,
the Company adjusts the structure of assets and liabilities as well as long-
term and short-term borrowings, to maintain adequate funds and emergency
response mechanisms.
(3) Legal Risk
By complying government regulations, tracking latest updates on regulations
for listed companies and corporate governance, conducting internal training
sessions, and revising internal company regulations, the Company supervises
and ensures the compliance of all business operations and controls the legal risks
52 of the Group.
Differences from
Development Best
Yes No Summary

for TWSE/ TPEx Listed
Companies and the
reasons
(4) Information Security Risk
In order to strengthen information security management, establish a safe and
reliable information operating environment, ensure data, systems, equipment
and network security, the Company has formulated the "Information Security
Policy" which takes into account of related business development and needs. The
"Information Security Management Essentials", other management guidelines
and risk control system are also established accordingly.
(5) Money Laundering Risk
The Company shall take appropriate measures to identify and evaluate its risks
of money laundering, and formulate specific risk assessment items based on the
identified risks to further control, reduce or prevent such risks. The Company's
current assessment method for money laundering risks is to periodically confirm
the Company's inherent risks (including aspects of region, customer, product
and service, transaction or payment channels), and then to evaluate whether the
corresponding control measures that have been taken are sufficient to reduce or
prevent such risks. The residual risks are within the Company's money laundering
risk appetite.
(6) Climate Change Risk
With the threat of global climate change, financial market participants
increasingly demand for information on the effects of climate change, and
there is an increasingly need from creditors and investors to obtain consistent,
comparable, reliable, and complete risk information. Therefore, based on the
framework of the Recommendations of the Task Force on Climate-related
Financial Disclosures published by TCFD, the Company adopted the identification
and corresponding measures of climate change risk, and estimates the financial
impack based on the framework in order to reduce the risk and strengthen
the Company governance with regard to climate change. In addition, the risks
arising from climate change were included in the risk management policy of the
Company, and the relevant response measures are implemented and included in
the risk management process.
3. This disclosure covers the performance of sustainable development of all operation
network in the year of 2021, and the risk assessment boundary is mainly based
on the Company. To grasp the connection between the issues of concern to
stakeholders and the Company more accurately, we follow the four principles of GRI
Standards which are materiality, stakeholder inclusiveness, sustainability context,
and completeness. We also collect issues which are concerned by stakeholders
through multiple methods, and use scientific approach to examine and identify
material issues. The procedures are described as follows:
(1) Identification: collection of issues in relation to 17 sustainable items through
diverse channels
(2) Prioritization: sending questionnaires to stakeholders and combining the internal
and external results
(3) Assessment: reviewed and adjusted by the Corporate Governance and
Sustainable Development Committee based on the views of management team
(4) Validation: determination of 4 material issues
According to the issues which stakeholders concern, it is divided into three
levels by impact: Primary, High and Medium. The items classified into Primary
level include Ethical Corporate Management, Risk Management, Operating
Performance, and Corporate Governance. The content is disclosed in varying
degrees depending on processing status. For the remaining 13 items, please refer
to the Sustainability Report.
iii environmental issues (1) Since the introduction of the ISO14001 environmental management system in 2014 No major
(1) Development of sustainable and the revision aligned with the international standard in 2017, the Company has discrepancies
environment introduced the ISO50001 Energy Management System in 2016 and the revision
Does the company establish aligned with the international standard in 2020 with third party certification as
the suitable environmental well. The Company also obtained the certification of ISO14064 in 2020. In 2021,
management system based on the the Company has expanded Scope 1 and Scope 2 of ISO 14064-1 greenhouse gas
industry characteristics? inventory by 2 to 4 locations and also adding Scope 3 of external certification(Scope
3 calculation scope, focusing on carbon emissions from employee commuting
and upstream electricity). The Environment and Energy Promotion Committee has
been established to systematically integrate these systems into daily work and
operational processes, to promote the concept of environmental protection which
will raise awareness of energy conservation and carbon reduction, and to continue
promoting environmental, energy management, and waste reduction programs for
a long period of time. In response to the government's greenhouse gas reduction
targets on a long-term basis, Chailease Holdings regularly tracks the effectiveness
of emission reductions and publicly discloses them in the Company's Sustainability
Report and the Company's website. (https://www.chaileaseholding.com/CSR/
ReportDownload)
53
Differences from
Development Best
Companies and the
reasons
External Verification
• ISO-14064-1 (Neihu HQ building, Darwin , SYNTEK office, Chailease Consumer
Finance Co & North side of Taipei office has been verified)
• ISO50001 Energy Management System (Chailease Holding has been verified)
• ISO14001 environmental management system (Chailease Holing has been verified)
(2) Does the company endeavors to V (2) In accordance with the Green Procurement Policy of the EPA (Environmental
increase the utilization efficiency Protection Administration) and the spirit of the ISO 20400 Sustainable Procurement
of all resources and use of Guidelines, the Company has implemented the concept of sustainable management
renewable materials which have a into our Procurement Practice and policies. The Company try to use recycled and
least impact to the environment? reused alternative materials to produce products or provide services to reduce
negative impacts on the environment and society while maintaining the quality
of the products; and follow the green procurement guidelines to fulfill corporate
responsibility and make a good influence.
In order to improve the reuse of resources, green brand products made from
recycled resources are used in the headquarters of the company. The items include
paper towels and toilet paper. The paper prints are also made of environmentally
friendly materials as the first choice. In addition, inductive smart bulbs are installed
in the restrooms and tea rooms to save power resources. In order to reduce the
waste, the vendors of luncheon are required to deliver repeated-use boxes in order
to decrease the amounts of disposable plastic bags. A recycling area is also set up
on each floor to encourage employees to classify the waste and do recycling.There
are resource recycling areas on each floor of the Neihu HQ building, to classified
paper, plastic, aluminum metal into categories and the personnel of the building
property management will then process recycle works .
(3) Does the company assess the V (3) In 2020, Chailease Holding signed up to TCFD (Task Force on Climate-related)
potential risks and opportunities Financial Disclosures to become a supporter of climate-related financial disclosures.
of climate change to the company Chailease Holding identifies possible risks and opportunities for climate change, and
now and in the future, and take selected the most relevant factors. Chailease Holding assessed direct and indirect
measures to deal with climate- physical effects of extreme weather events and the impact of transformation
related issues? necessitated by regulations, technologies, or market demand. Corresponding risk
prevention measures were taken in advance according the scenario analysis of
financial impact in order to strengthen climate change governance in the Company.
This systematic assessment is used to reduce risks and exploit opportunities. For
more details, please visit the Climate Change Risks and Opportunities section of the
company website. http://www.chaileaseholding.com.tw/CSR/CSR-06-01.asp
(4) Does the company count V (4) The Company’s Corporate Social Responsibility Report discloses CO2 emissions
greenhouse gas emissions, water from 2021 and historical GHG emissions. In compliance with ISO50001 energy
consumption and total weight management systems, the Company has formulated corporate energy and
of waste for the past two years, environmental management strategies as well as promoted reduction plans every
and formulate policies for energy year, which has resulted in real improvements, benefitted the overall environment,
saving and carbon reduction, and helped reduce the Company’s impact on climate change. In 2021, the Company
greenhouse gas reduction, water performed ISO 4064-1 GHG accounting and reporting with the help of a third-party
use reduction or other waste verification agency, taking a more comprehensive stock of various carbon emissions
management? internally to further carry out action plans for GHG reduction and better control/
reduce corporate carbon emissions. We believe the comprehensive GHG reporting
will help mitigate global warming and help with other environmental issues as well.
In 2020 and 2021, all Company locations used a total of 73,173 and 120,634 metric
tons of water, respectively; the total waste generated by the Neihu HQ was 63,645
and 61,809 kg, respectively, of which 25,429 and 16,925 kg were recycled, while
38,216 and 44,884 kg of waste went unrecycled, respectively.
Scope 1 Scope 2 Scope 3 Business travel Upstream

Unit: mt/CO2e Unit: mt/CO2e
5,057 705
4,328
540
4,787 4,718 7,646
673 600 474
6,001
420
3,725 3,906 185 128
2018 2019 2020 2021 2018 2019 2020 2021
Note: The table is calculated by self, only the Neihu HQ building, Darwin SYNTEK office,
Chailease Consumer Finance Co & North side of Taipei office has been verified by
the third party.( Scope 1:203.9435 mt/CO2e, Scope 2: 1,912.8163 mt/CO2e, Scope
3:112.5753 mt/CO2e)
54
Differences from
Development Best
Yes No Summary

Companies and the
reasons
iv. Maintain social welfare No major
(1) Does the Company establish V (1) The Company values human rights and gender equality and dedicates to build a discrepancies
management policies and internal working environment from discriminations and harassments. We established the
operation process in accordance Chailease Holding Co. Human Rights Policy in 2018, and its amendment has been
with related regulations and the approved and passed by the Board of Directors on 13 May, 2021, to ensure that all
International Bill of Human Rights? employees are treated fairly and equally, enjoy freedom of assembly, association
and the right of collective bargaining, and to oppose discrimination against
employees, customers and strategic partners in any forms.
The Company support and comply with the International Bill of Human Rights,
including of the "Universal Declaration of Human Rights", "International Labor
Organization Declaration on Fundamental Principles and Rights at Work" and
"United Nations Guiding Principles on Business and Human Rights." In addition,
the policies formulated by the Company are in the reference to the "United
Nations Global Compact." We respect and perform the principles including but not
limited to the responsibility of business enterprises to respect human rights refers
to internationally recognized human rights and shall make sure not to provide
any assistance to actions that infringe human right. The Company also provides
trainings which are related to the human right for the protection of employees.
Besides, the orientation of recruitment is not adversely affected by sexuality, age,
religion and ethnics. The Company employs physically/mentally challenged people
according to different types of work. Furthermore, to eliminate any form of sexual
discrimination, and provide a gender-friendly working environment, the Gender
Equality Working Group was established under the Corporate Governance and
Sustainability Committee.
(2) Has the company established V (2) The company form a compensation committee by all independent directors
appropriately managed employee to assist in the assessment and supervision of the overall remuneration policy,
welfare measures (include salary the compensation levels of directors and senior executives. The remuneration
and compensation, leave and of directors and managers closely integrated with the company's profitability
others), and link operational and shareholders' benefit. The bonuses based on the company and personal
performance or achievement performance. Regularly, the company conducts investigations and inspections
with employee salary and through external management consultants, provides competitive remuneration
compensation? in the market, and retirement rules superior to the law. According to Article 118 of
the articles of incorporation, if the company makes a profit every fiscal year. A pre-
tax profit of between 0.01% and 1% should paid as employee's remuneration. In
order to provide reasonable compensation, the employees' bonus will take not only
company's overall performance but also industry future risks and development
trend into consideration. It based on individual performance and contribution to the
company. To make sure the specific implementation of rewards and performance is
highly linked.
(3) Does the company provide V (3) The company provides employees with a safe and healthy working environment,
employees with a safe and healthy regularly monitors the environment and promotes:
work environment? Does the 1. Monitoring the working environment every six months including density of
company periodically educate them CO2, illumination.
about safety and health issues? 2. Inspecting drinking water quality quarterly
3. Implement the building self-inspection plan and provide a safe working
environment.
4. Irregularly check and improve the working environment.
5. Performing fire drill and advocacy for natural disaster resilience. Besides a safe
and healthy work environment, Chailease hires professional registered nurses
and doctors to provide medical consultation. Other services include:
6. Health check-up and health data and statistics tracking
7. Free consultation with doctors and free health care planning with professional
registered nurses
8. We highly value food quality and safety of company meals by labelling meal
with red and green light, by having dietitian design the menu, and by providing
a healthy dining environment.
9. In support of government's smoke free work environment: We hold workshops
to help quit smoking and provide rewards for successful cases.
10. Aware of the importance to the Self- Health management of employees, and
therefore regularly provides health consultation courses in the education and
training program by company's professional registered nurses.
11. A monthly health magazine is provided to promote and assist employees in
self-health management.
12. The company takes care of pregnant employees by providing free Happy
Mommy Bags and preschool education magazines, and by holding novice
parenting education lectures
55
Differences from
Development Best
Companies and the
reasons
(4) Does the company establish V (4) All employees (100%) are annually reviewed with their job performance and
effective training programs to career development regardless of gender and rank. Based on organizational needs
develop career skills? and supplemented by employee personal planning, the company makes the
IDP, Individual Development Plan. Every year the IDP is also determined by their
professional and career development plans, and by each employee's performance
improvement plan, etc.
(5)Does the Company promulgate V (5) To decrease risks of the Company and its subsidiaries and dedicate to protect
policies and complain the rights and interests of the clients, for the protection and management of the
mechanism for the protection personal information collected form the clients, the Company formulated "Chailease
of consumer rights on research Personal Information Protection and Management Policy" and instructed its
and development, procurement, subsidiaries to stipulate related regulations. And explain the purpose of collection,
production, processing and services the manner of use, and the exercise of related rights on customer information
procedures? Does the Company are stipulated in the letter of consent and the contract, assisting customers fully
adhere to related laws, regulations, understand the parties ‘ rights and obligations.
and international standards in the All businesses and financing products in which the Company involves and
sales and labeling of its products promotes abide by the laws and regulations of the regulating authorities. Moreover,
and services? the Company has designed a whole set of legal compliance educations for the
business personnel responsible for the marketing, including, for instance, personal
information protection law, trade secret law. etc. In addition, outgoing marketing
emails and promotional flyers and leaflets ("DM") are strictly examined for
complying with internal and external laws and regulations.
For clients' service, a 0800 toll-free customer services line is provided with
designated staff handling the contacts. Various web-based inquiry platforms are
established, providing information on the status of transaction and the result of
examination.
An in-place customer complain and handling mechanism is responsible for dealing
with doubts and complaints arising out of the products and services, and the
Company is equipped with designated staff to receive any question or complaint
and report them to specialized staff to cope with, to have discussion with clients
and seek resolutions. To protect clients' right and interest, the results shall be
reported to the Company regularly to make sure all the complaints are solved.
(6)Does the company formulate V (6) The Company’s supplier management policy specifies regulations on supplier
supplier management policies that legality and integrity management and asks suppliers to comply with regulations
require suppliers to have relevant regarding ESH, occupational safety and health, or labor rights to prevent the
regulations on environmental Company from dealing with suppliers in conflict with CSR policies. The Company
protection, occupational safety and withholds the rights to terminate or cancel any contracts in the event that suppliers
health or labor hazards, and the have violated policies and caused a significant impact on the environment and
implement? society of the community that suppliers are sourcing from. In 2014, the Company
also compiled the Guidelines for Supplier Social Responsibility to regulate suppliers
on ethical compliance, labor rights, and environmental sustainability. In 2015, the
Company compiled the Supplier Code of Conduct, adding articles about integrity
and the violation thereof. In 2021, the Guidelines for Supplier Social Responsibility
and Supplier Code of Conduct were integrated and renamed the Supplier Corporate
Social Responsibility Guidelines. The Company hopes that all suppliers can fulfill
commitments to ethics, labor rights, and environmental sustainability. The new
Guidelines also cover sustainable development topics on labor, ESH, ethics, and
management standards.
Supplier Corporate Social Responsibility Guidelines and related compliance in 2021:
• Promote Educational Training: Offered training programs to suppliers about
integrity management, occupational safety and health, human rights policies, and
environmental sustainability.
• Evaluation results:
1. To facilitate CSR fulfillment in suppliers, the Company started offering online training
programs to suppliers in 2021 and asked suppliers to sign a Supplier Commitment
on Human Rights and Environmental Sustainability. All suppliers with an annual
transaction amount exceeding NT$1 million must complete a Self-evaluation
ESG Survey. At the end of the year, the Company counted 116 suppliers used by
Chailease Holding Company Limited and subsidiaries and 72 suppliers that meet the
aforementioned condition.
2. Tallying and analyzing results from the Self-evaluation ESG Survey revealed an
average score of 63.88. Suppliers with an average score of less than 50 are then
analyzed according to their scale and the nature of their industries for more detailed
standards. This helps the Company categorize and evaluate whether the supplier
requires assistance or should make improvements. In the event that any negative
impact of significance is found, the Company shall terminate partnerships with the
supplier in question.
56
Differences from
Development Best
Yes No Summary

Companies and the
reasons
v. If the products or corporate social V The Company compiled the "2021 Chailease Sustainability Report" in accordance with No major
responsibility reports have received the internationally accepted report preparation guidelines - Global Reporting Initiative discrepancies
assurance from external institutions. Standards (GRI Standards), and was approved by the British Standards Institution (BSI)
Further clarification shall be provided with evaluation of the nature and extent of the Chailease Holding's adherence to
AA1000 Account Ability Principles (2018) and the reliability of specified sustainability
performance information in this report as conducted in accordance with type 2 of
AA1000 AS v3 sustainability assurance engagement.
vii. If the company has established corporate social responsibility principles based on "Corporate Social Responsibility Best Practice Principles for TWSE/ GTSM-Listed
Companies", describe any discrepancies between the principles and real execution:
The board of directors passed the "Corporate Social Responsibility Best Practice Principles" in 2011 June. To strengthen the implementation of corporate social
responsibility, the company regularly reviews the implementation and makes improvements accordingly in 2012 November, 2015 June, 2018 November, 2020 March.
So far, there is no discrepancy in implementation.
viii. Other important information to V 2021Awards Of Chailease No major
facilitate better understanding 1. Dow Jones Sustainability Index(DJSI) – DJSI World Index & DJSI Emerging Markets discrepancies
of the Company's corporate Index
socialresponsibility practices (e.g., 2. S&P Global Inc. – Global Bronze Class in Global Sustainability Yearbook 2022
systems and measures that the 3. TWSE CG 100 Index、FTSE TWSE Taiwan 50 Index.
company has adopted with respect 4. Top 5 percent in the 6th Corporate Governance Evaluation.
to environmental protection, 5. Taiwan's most valuable global brand rankings(12th)
community participation, 6. Common Wealth Magazine – Ranked as the 1st Machinery and Equipment Rental. &
contribution to society, service 2020 Taiwan's Excellence in Corporate Social Responsibility Award(38th)
to society, social and public 7. Taiwan Corporate Sustainability Awards- Taiwan Top50 Sustainable Enterprise
interests, consumer rights and Award & Sustainability Report Golden Award.
interests, human rights, safety 8. British Standards Institution – Leading Sustainability and Resilience Award.
and health, other corporate social 9. Taipei City Government – Workplace Gender Equality Certification.
responsibilitiesand activities, and the 10. Sports Administration –Sports Activist Awards.
status of implementation.)
57
6. Disclosure of the corporate governance regulations and related rules.
Status
item Deficiency
yes no Description
i. Promulgation of Corporate
Ethics Policy and Plan
(1) Has the company v (1) In 2011, "the Ethical Conduct Principles" of the Company was promulgated, with a view to building No major
formulated the a business ethic culture, followed in 2018 with the revision of "the Corporate Social Responsibility discrepancies
ethical conduct policy Principles" of the Company. In 2014, "the Procedures for Ethical Management and Guidelines for Conduct"
approved by the board of the Company were revised. In addition to the revision of the "Ethical Corporate Principles" and other
of directors, and stated internal policies in March, 2019 to reflect a major revision of the Company Law in 2018, the Company
in the regulations and revised the "Procedures for Ethical Management and Guidelines for Conduct", the "Corporate Governance
external documents the Practice" and the "Corporate Social Responsibility Best Practice Principles" in March, 2020, and the "Ethical
policies and practices Conduct Best Practice Principles" in August, 2020.
of ethical conduct? Do The Company will revised the "Sustainable Development Best Practice Principles"(Corporate Social
the board of directors Responsibility Principles in 2018) in accordance with the latest regulations amended by the competent
and senior managers authorities in 2022.
actively implement the Concurrently, the Company' Corporate Sustainability Report describes the corporate ethics policy from
commitments of the the viewpoints of the management and what actions have been taken by the Company to implement
operating policies? such policy.
All directors and senior executives of the Company have signed the "Integrity Statement" which has been
disclosed on the Company's website. The Integrity Statement declared that the Company and all of its
employees shall not directly or indirectly offer, promise to offer, request or accept any improper benefits,
nor commit unethical acts for purposes of acquiring or maintaining benefits while engaging in commercial
activities, in order to implement the integrity management policy, actively prevent dishonesty, and
declare the determination and commitment of the board of directors and senior management to operate
in good faith.
(2) Does the Company v (2) The Company has promulgated the "Measures for Risk Assessment of Unethical Conduct," which were No major
establish the approved and passed by the Board of Directors on 15 December, 2020, and established the internal discrepancies
prevention program control mechanism for business may be at a higher risk of being involved in an unethical conduct, and
based on the strengthen the preventive measures by examining the internal control mechanism on a regular basis. The
assessment on which control mechanism established by the Company includes preventive measures against the following:
business activities 1. Offering and acceptance of bribes
with higher risks of The Company promulgated "the Rule on the Reporting of Unethical Conducts and Violations of the
being involved in Ethics Guidelines" (the "Reporting Rule"), which provides that any person, either a Company employee
unethical conducts, or an outsider, may report any conduct which is improper, unethical, illegal or violates the Company's
and formulate the ethics guidelines. If the alleged violation is proven to be true, the violator shall be subject to
preventions with punishment. Besides, the Company takes measures to raise employees' awareness on the requirement
the contents at least of observing the internal disciplinary and work rules of the Company. The assessment of performance
include Item 2, Article 7 and salary of the employees will be connected to the punishment records, to ensure the effectiveness
of the Ethical Corporate of preventive measures.
Management Best 2. Illegal political donations
Practice Principles? In accordance with the "Ethical Corporate Management Best Practice Principles" of the Company, the
Company and its subsidiaries shall hold its stances on political neutrality and in no circumstances shall
embark on any campaign contributions. Through internal remittance control and accounting subject
checking and auditing, the Company is able to avoid engaging in political contributions through
donations.
3. Improper charitable donations or sponsorship
The Company's Articles of Association clearly stipulate that donations can only be of a charitable
nature, and the act of transferring benefits on the basis of donations should be prohibited; the
amount of charitable donations and the resolution procedures have been specifically stipulated into
the Company's Articles of Association, such as the amount of each donation or the accumulation of
donations reach a certain amount within one year, it shall be approved by an ordinary resolution of
the Company's shareholders' meeting in addition to the resolution of the Board of Directors.
4. Offering or acceptance of unreasonable presents or hospitality, or other improper benefits
In accordance with the "Ethical Corporate Management Best Practice Principles," when engaging in
commercial activities, directors, supervisors, managers, employees, and mandataries of the Company
or persons having substantial control over the Company shall not offer, request or accept any
improper benefits, or commit unethical acts; The "Work Rules" of the employees also clearly stipulate
that the employees have the obligation to observe honesty, and shall not use bribes, kickbacks or
other improper methods to strive for business; they may not request the manufacturer to entertain,
give gifts, or accept servants, rewards, and other improper benefits by taking advantage of their
relationship. The Company's main operating contracts contain terms of integrity ("Ethics Clauses") as
well.
58
Status
item Deficiency
yes no Description
5. Misappropriation of trade secrets and infringement of trademark rights, patent rights, copyrights,

and other intellectual property rights The intellectual property rights of the Company and its
subsidiaries are managed by the responsible unit at the holding company level, and a professional
intellectual property office is appointed to assist in the control of all domestic and foreign trademarks,
and regularly provide all trademark and patent information of the Company for management. All
employees of the Company signed Employee Statement. In 2018, the Company required employees
to re-sign the new version of the Employee Commitment Letter and the Employee's Resignation
(retirement / resignation) Statement to strengthen the protection of the Company's business secrets
and information security.
6. Engaging in unfair competitive practices
In accordance with the "Ethical Conduct Best Practice Principles,"the Company shall provide its
customers satisfactory services in good faith, and devote to fair market competition. The Company
shall refrain from obtaining profits by illegal or unethical methods. The personnel shall treat all
suppliers and customers, competitors, and employees fairly, and may not obtain improper benefits
through manipulation, nondisclosure, or misuse of the information learned by virtue of their positions,
or through misrepresentation of important matters, or through other unfair trading practices. The
personnel shall comply with highly ethical standard and fair trade principle, shall not ask for kickbacks,
present, or other improper benefits by taking the advantage of conducting business.
7. Direct or indirect damage to the rights or interests, health, or safety of consumers or other
stakeholders in the course of research and development, procurement, manufacture, provision, or sale
of products and services
The Company provides diversified communication channels for customers, and sets up a dedicated
customer service unit to provide consumers with product or service consultation and demand
management. For complaint channels such as mailboxes, the responsible unit actively resolves
disputes and evaluates the distribution of complaints and closing status quarterly to implement
follow-up and improvement measures. If a complaint occurs, consumers can use the service hotline,
official website, internet service, e-mail box and other complaint channels. The responsible unit will
actively resolve disputes and evaluates the distribution of complaints and closing status quarterly to
implement follow-up tracking and improvement measures.
In addition, the Company purchased a liability insurance policy covering material loss of assets and
entrusted properties of the Company due to breach of fiduciary duty and unethical conducts by its
employees, especially for those at the legal, finance and marketing departments. With the liability
insurance, the insurer bears the risk of loss resulting from employee infidelity, with a view to safeguard
the benefits of the Company's shareholders.
In order to collect the opinions of stakeholders more accurately, in addition to the establishment of
a special stakeholder area on the official website, the company will report the communication with
various stakeholders to the board of directors. The company plans to report to the board of directors
at least once a year on the communication of interested parties, including shareholders, employees,
clients and vendors and immediately release relevant information on the official website.
(3) Does the company v (3) The Company complies with the "Ethical Corporate Management Best Practice Principles" and the No major
promulgate its action integrity-based policy to formulate a prevention plan, specifies dishonest behaviors and the corresponding discrepancies
plans on how to prevent consequences in the "Procedures for Ethical Management and Guidelines for Conduct," and appoints
unethical conducts, specialized units to maintain and implement the prevention plan.
and in each action plan The Company annually reports to the board of directors on the effectiveness of the internal control
specify procedures, system; and regularly reviews and revises the system in accordance with external laws and regulations
guidelines, punishments promulgated by the competent authority.
and grievance-filing
systems and fully
implement them?
Furthermore, does the
company regularly
review and revise the
aforementioned plan?
59
Status
item Deficiency
yes no Description
ii. Implementation of
Corporate Ethics
(1) Does the Company v (1) According to "the Procedures for Ethical Management and Guidelines for Conduct," the Company must No major
evaluate the acquire full knowledge of the status of the business ethics of a counter party prior to entering into any discrepancies
business records of agreement with such counterparty. The Company shall ensure that clauses relating to business ethics are
its counterparties to incorporated into the agreement.
find out whether they
have engaged in any
unethical conduct in the
past, and incorporate
business ethics clause in
the agreements with the
counterparties?
(2) Does the Company v (2) The Company amended its "Organizing Rules on the Corporate Governance and Ethics Committee" in No major
establish any unit 2015, stipulating that the Corporate Governance and Ethics Committee ("the Former Committee") should discrepancies
responsible for be the specific unit responsible for promoting business ethics. With a view to strengthening corporate
promoting business governance, fulfilling corporate social responsibilities, and seeking sustainable development. The Company
ethics under the board has examined progress and results year by year. In 2018, the Company elevated the Former Committee to
of directors and report a level of corporate hierarchy under the Board of Directors and renamed it "the Corporate Governance and
to it periodically with Sustainability Committee" ("the Committee").
respect to the status of In addition, in order to implement the Company's Ethical management policy, the Corporate Governance
implementation and and Sustainability Committee regularly holds two meetings each year to review and decide on the annual
report to the board of work plan and training, and implementation status proposed by the relevant units of the company for
directors at least once a integrity management report. The 2020 Ethical Management Performance Achievement Report was
year? And the 2021mid-year report for the corporate governance of the Company were submitted to the
Corporate Governance and Sustainability Committee in June 2021, and proposed to the Board of the
Directors on 9th December 2021.
The legal department is charged with the responsibility of holding informative educations for all
employees, with a symposium and case-studies on "Introduction to the Principles of Business Ethics and
Behavioral Guidance" in 2018, so as to raise attention on business-related matters. In 2021, it expands
the range of the online education and training courses and implementation targets, which targets at all
colleagues to strengthen the promotion of integrity, anti- corruption, anti-money laundering, and personal
information protection.
Besides, in order to staying in line with the trend brought by the major revision of the Corporate Law
and respond to the "Corporate Governance 3.0 -Sustainable Development Roadmap", the Company
has established a full-time Corporate Governance Officer, coordinating works on corporate social
responsibilities, corporate governance, legal compliance, and business management strategies. No major
(3) Does the Company v (3) According to the internal regulations of the Company, if any director of the Company or its subsidiaries is discrepancies
formulate any policy an interested party with respect to any proposal of the board meeting, such director may not participate
to prevent conflict of in discussion or vote on such proposal, and must refrain from participating in and voting on such proposal.
interests, provide an When employees of the Company discover that the carrying-out of their duties may lead to conflict of
effective reporting interests between the Company and them or the entity which they represent, they shall report such
system and thoroughly conflict of interests to their direct supervisors and the special unit of the Company.
implement the policy?
(4) Whether the Company v (4) The Company has established effective accounting systems and internal control systems for business No major
has established an activities possibly at a higher risk of being involved in an unethical conduct. The Company is completely discrepancies
effective accounting prohibited from having under-the-table accounts or keeping secret accounts. The Company conducts
system and internal reviews regularly to ensure that the design and enforcement of the systems are effective. The internal audit
control system for the department of the Company devises relevant audit plan and examines accordingly the compliance with
implementation of the prevention programs.
integrity management?
Moreover, has the
internal audit unit drawn
up the relevant audit
plan based on the results
of risks assessment
against unethical
conduct to certify the
implementation of
the mechanism for
preventing unethical
conduct, or delegated
the examination to
the Certified Public
Accountant?
(5) Does the Company hold v (5) The Company has organized the trainings for new employees, including but not limited to, subjects No major
internal and external on business ethics and code of conducts, which, besides featuring an education on the concept and discrepancies
trainings for business importance of business ethics targeting the members of the Board of Directors and functional committees,
ethics periodically? continue to be held throughout 2021 periodically.
60
Status
item Deficiency
yes no Description
iii.The Operation of the

Internal Reporting System
(1) Does the Company v (1) The Company promulgated the Regulation Governing Reporting of Unethical Conducts and Code of No major
establish a clear Conduct Violations, which provides that any Company employee and external person may report unethical discrepancies
reporting system, reward conducts to the internal audit officer and the chief human resources officer through the hotline, mail and
policy and convenient email etc.
reporting channel? Does
the Company designate
a relevant staff for
receiving reporting of
alleged violations based
on the alleged violators?
(2) Does the Company v (2) According to the Whistle Blowing Policy, it is required to file a written report, stating the details of the No major
establish an alleged illegal, unethical conducts and/or violations and the names of the alleged violators, accompanied discrepancies
investigation SOP and by related evidence, for receiving such report by the responsible unit and initiating the investigation.
related confidential After the report is received, the window will determine and designate an appropriate unit in charge of
system concerning the investigation according to the severity of the violations. After investigation, the investigation report
receipt of the reporting, together with the improvement suggestion will be submitted to the chief human resources officer and
and the follow-up chairman. When the alleged illegal, unethical conducts and/or violations prove to be true, a personnel
measures depending review commission meeting will be called for the commissioners to examine the breaches of discipline
on the severity of the and adjudicate on them. Moreover, in 2016, the Company promulgated the Regulation on Protection of
circumstances after Whistleblower for Reporting Unethical Conducts and Code of Conduct Violations, (the "Whistleblower
investigations of cases Regulation") which safeguards the whistleblower personal information. The identity of the whistleblower
reported are completed? shall be represented by a code. The related information shall be kept strictly confidential, and is highly
managed with regard to its transferring, archiving, accessing and safekeeping. Where necessary or if the
case involves breach of trust, embezzlement, fraud, and involves criminal responsibility, the case shall be
reported to the competent authority or transferred to the judicial authority, and the Company shall file a
claim for civil liability. No major
(3) Does the Company take v (3) According to the Whistle Blowing Policy, all investigators and the persons participating in the investigation discrepancie
any action to protect must keep the facts of violations, investigation progress and other related information confidential.
persons reporting Any disclosure without permission is forbidden. Failure to comply with the confidentiality causing the
violations from disclosure of the information may lead to disciplinary actions. In addition, the Whistleblower Regulation
retaliation or improper enhances the protection of a whistle blower's personal information. A whistleblower will not sustain
treatment related to any unfavorable treatment on the position, salary, promotion and other working conditions for the
their reporting? reporting. Furthermore, the Company undertakes to protect a whistleblower from any violence, duress,and
harassment.
iv. Does the Company v The content of the" Ethical Conduct Principles" of the Company has been disclosed in the MOPS and the No major
disclose on its webpages Company webpage containing important Company by-laws ("Major Internal Policies") under the tab of discrepancies
and "the Market "Corporate Governance."
Observation Post System"
("MOPS") the content of its
business ethics principles
and performance results?
v. If the Company has promulgated its Ethical Corporate Management Best Practice Principles pursuant to "the Ethical Corporate Management Best Practice Principles
for TWSE/GTSM Listed Companies" ("the Principles"), state the discrepancies between its implementation and the requirements of the Principles: No major
discrepancies
vi. If the products or corporate social responsibility reports have received assurance from external institutions. Further clarification shall be provided.
The Chailease CSR Report had been externally assured by British Standards Institution (BSI) and based on AA1000 Assurance Standard (2008) consistent with the GRI
Standards Guidelines. The 2020 Chailease CSR Report can be downloaded in the following website: http://www.chaileaseholding.com/ImgChaileaseHolding/2020CSR-
CH.pdf
61
7. Disclosure of the corporate governance regulations and related rules.
In June 2011, the Company formulated several regulations on corporate governance, including Corporate
Governance Best Practice Principles, Ethical Corporate Management Best Practice Principles, Corporate Social
Responsibility Best Practice Principles, and Codes of Ethical Conduct. In November 2014, the Company had
updated Procedures for Ethical Management and Guidelines for Conduct, and comprehensively implemented
Ethical Management.
The Company will revise its Best-Practice Principles on Corporate Governance and the Sustainable Development
Best Practice Principles in accordance with the latest version of related regulations amended by the competent
authorities in 2022.
In addition, the Company formulated the "Rules for Corporate Governance and Ethical Corporate Management
Committee" in 2015, and established the "Corporate Governance and Ethical Corporate Management Committee"
as a dedicated organization to promote Ethical Corporate Management in order to expand functions of the
organization and enhance the implementation of Ethical Corporate Management. On December 14, 2018, the
Board of Directors of the Company decided to elevate the level of Corporate Governance and Ethical Corporate
Management Committee to a functional committee under the Board of Directors, and renamed it as Corporate
Governance and Sustainability Corporate Committee in order to assist in the formulating and promoting policies
related to corporate governance, maintaining more comprehensive decision-making and execution organizations,
continuously improving the Company's operational efficiency , and implementing corporate governance with
practical actions.
The Board of Directors of the Company decided to set the position of the Head of Corporate Governance in 2018
with a view to safeguarding shareholders' rights and strengthening the functions of the board of directors, and
assisting the board of directors in complying with relevant laws and regulations, improving corporate governance
effectiveness and implementing ethical corporate management.
All the above-mentioned regulations have been issued to all employees, and investors can also make inquiries
from the company's official website in the "Corporate Governance" section of important regulations.
In accordance with the above rules and regulations, the company has taken the following measures:
(1) In accordance with the aforementioned Corporate Governance Best Practice Principles, the "Reporter
Protection Procedures" was announced on January 26, 2016, to establish a so-called "whistleblower" rule to
encourage anonymous reporting about violating internal and external regulations and protect the reporter.
Both internal and external personnel can report misconduct, fraud, illegality and violations of the company's
code of conduct by ways of a dedicated telephone hotline, written report and email.
(2) According to the above-mentioned Procedures for Ethical Management and Guidelines for Conduct,
"Working Rules of the Chailease Finance Corporation (wholly-owned Subsidiary of the Chailease Holding)
was announced on February 19, 2016, and regulations in relation to ethical management was included in the
human resource policy.
(3) In accordance with the above-mentioned Sustainable Development Best Practice Principles, the 2016
Shareholders' Meeting approved the "Rules of Procedure for Shareholders Meetings" to stipulate that "when
shareholders raise relevant proposals concerning corporate social responsibility, unless there were justifiable
reasons, The Board of Directors of the Company shall list as a motion in Shareholders Meetings at its own
reasonable discretion. The shareholders who submit proposals are not subject to the limit of the shareholding
ratio." In 2019, in line with the amendment of the Taiwan Company Act, the Company amended the rule of
shareholders' right to convene, the notice of shareholders' meeting, the shareholders' right to propose, and the
provisions of substantive examination on the directors' nominees to comprehensively implement shareholder
activism and encourage shareholders to participate in corporate governance. In 2021, it is expected that "Rules
and Procedures of Shareholders' Meeting" would be amended at the 2021 Annual Shareholders' Meeting
to comply with the Company Act and refer to the latest "Rules and Procedures of Shareholders' Meeting" as
provided by the Financial Supervisory Commission.
(4) In accordance with the aforementioned Codes of Ethical Conduct, in Regulations Governing Procedure for
Board of Directors Meetings, the Company added the section stated that "Exemption of Directors, Audit
62
Committee or Managers from the company's ethical code of conduct should be discussed by the Board
of Directors of the Company. The revision to the "Regulations Governing Procedure for Board of Directors
Meetings" was approved and passed by the Board of Directors on 12 August.

(5) According to Procedures for Ethical Management and Guidelines for Conduct, the Company has fully adopted
the standard contract with a section about ethical behaviors in January 2016. The Company also added a
column about "legality and ethics" in the review system to include ethical management review required by
laws. The Company also announced and asked the employees of the company to re-sign the new version of
the letter of commitment in 2018. The Company revised the new employee resignation (retirement/dismissal)
statement to strengthen the protection of the Company's trade secrets and information security.
(6) In accordance with the above-mentioned Corporate Governance Best Practice Principles, the Company's
"Performance Assessment for the Board of Directors" was announced in September 2016. The Company
conducts an "Internal Performance Assessment" (including "Internal Board Evaluation" and "Self-Assessment
of Directors") annually and an "External Performance Assessment" every three years. In order to comply with
the amendments of Corporate Governance Best Practice Principles for TWSE/TPEx Listed Companies in 2018,
the Company plans to revise Performance Assessment for the Board of Directors in 2019. In addition to the
assessment on individual directors in accordance with current regulations, the performance assessment on
functional committees will be incorporated into this performance assessment in the future to further enhance
the participation of the functional committees in the company's operations and the quality of decision-making.
The Company also revised "the Rules on the Evaluation of the Performance of the Board of Directors," and
the questionnaires and submitted for the Corporate Governance and Sustainable Development Committee's
approval on 10 March, 2021. Besides adding quantitative standards and calculation examples of the board of
directors, functional committees and individual directors' individual performance evaluation in order to review
the salary of the members of the Board of the Directors via each performance evaluation, the performance
evaluation is also conducted through self- assessment and peer-to-peer assessments. These methods and
revisions aim to further enhance the participation of the functional committees in the company's operations
and the quality of decision-making.
(7) In accordance with the aforementioned Procedures for Ethical Management and Guidelines for Conduct,
the Company has conducted two thousand one hundred and twenty-one (2121) training sessions in 2021
(in line with the official website( http://www.chaileaseholding.com/ugC_AboutUs02-05.asp) about ethical
management policies and related rules to internal departments and branches.
8. Other important information that is sufficient to increase understanding of the operation of corporate governance
may be disclosed: None.
63
9. Statement of Internal Controls
64
10. The Company and its internal personnel were punished by laws, and the Company's punishment to internal
personnel who violated the rules of internal control, major defects and improvement in recent years until the
publication date of the annual report: If there has been any legal penalty against the company or its internal
personnel, or any disciplinary penalty by the company against its internal personnel for violation of the internal

control system, during the most recent fiscal year or during the current fiscal year up to the publication date
of the annual report, where the result of such penalty could have a material effect on shareholder equity
or securities prices, the annual report shall disclose the penalty, the main shortcomings, and condition of
improvement.
After investigation, none of the employees of the Company and its important subsidiaries in Taiwan and
Mainland China (as of March , 2022) violated the Company's code of conduct, where the result of such penalty
could have a material effect on shareholder equity or securities prices.
(1) The Company and its internal personnel were punished by laws in recent years until the publication date of
the annual report: None.
(2) The Company's punishment to internal personnel who violated the rules of internal control, where the result
of such penalty could have a material effect on shareholder equity or securities prices: None.
11. Major resolution in the meeting of shareholders and the Board in the latest year and before the publication date
of the annual report.
(1) Major resolution in the regular meeting of shareholders
Date Proposal Resolution Execution status
July 16, 1. The proposal Proposal was approved after voting. The Financial
2021 regarding the 1,218,472,124 shares were represented at the time of voting；1,060,809,097 Statements were
AGM 2020 Business shares voted for the proposal ,representing 87.06% of the total represented disclosed on the
Report and shares present；190,468 shares voted against the proposal, representing 0.01% company's website.
Financial of the total represented shares present；0 votes were invalidly cast, representing
Statements 0% of the total represented shares present；157,472,559 votes were abstained,
representing 12.92% of the total represented shares present。
2. The proposal Proposal was approved after voting. The record date of
for distribution 1,218,472,124 shares were represented at the time of voting；1,060,242,630 the dividend was
of 2020 profits shares voted for the proposal ,representing 87.01% of the total represented shares set on August 11th
(cash dividend present；2,375,420 shares voted against the proposal, representing 0.19% of 2021; cash dividend
per share of the total represented shares present；0 votes were invalidly cast, representing were distributed
NT$5; 0% of the total represented shares present；155,854,074 votes were abstained, on September 3rd
stock dividend representing 12.79% of the total represented shares present。 2021; stock dividend
per were distributed on
share of NT$0.5) September 3rd 2021.
3. Amendment Proposal was approved after voting. Amended "Rules and
to the "Rules 1,218,472,124 shares were represented at the time of voting；1,054,667,360 Procedures of
and Procedures shares voted for the proposal ,representing 86.55% of the total represented Shareholders'
of Shareholders' shares present；193,195 shares voted against the proposal, representing 0.01% Meeting " was
Meeting" of the total represented shares present；0 votes were invalidly cast, representing disclosed on the
0% of the total represented shares present；163,611,569 votes were abstained, company's website.
4. Proposal for Proposal was approved after voting. A stock dividend of
the Issurance of 1,218,472,124 shares were represented at the time of voting；1,054,581,820 50 shares to every
new shares via shares voted for the proposal ,representing 86.54% of the total represented 1,000 shares were
capitalization shares present；311,837 shares voted against the proposal, representing 0.02% distributed on
of retained of the total represented shares present；0 votes were invalidly cast, representing September 3rd 2021
earnings 0% of the total represented shares present；163,578,467 votes were abstained,
65
(2) Major resolutions in the Board meetings
Date The resolutions
Approved to revise "Rules and Procedures of Shareholders' Meeting" of the Company.
2021.03.10 Approved the 2020 Business Report of the Company.
Approved the Date, Venue and its close period of Register of Members for the Annual General Meeting of 2021.
Approved the Company's audited consolidated financial statements and the Independent Auditor's Report for year
ended 31st December, 2020.
Approved the distribution of the annual net profits and dividend payment from the operating performance of the year
2020.
Approved the capitalization of retained earnings for issuing new common shares.
2021.03.25
Approved the total compensation of directors and key managers for year 2020, which includes employee's compensation
and directors' compensation.
Approved the update on matters for the Annual General Meeting of 2021.
Approved to inject the capital of no more than UDS 8.5 million to the Company's 100% owned subsidiary, Chailease
International Company (Hong Kong) Limited in installments.
Noted the Company's consolidated financial statements and the independent auditor's review report for the first quarter
2021.05.13
ended March 31, 2021.
2021.05.19 Approved to change the venue of Annual General Meeting of 2021.
2021.06.21 Approved to refix the date and venue of Annual General Meeting of 2021.
2021.07.19 Approved to authorize the Chairman to determine the ex-dividend record date and the dividend payment date.
Approved the Company's audited consolidated financial statements and the Independent Auditor's Report for the first
2021.08.26
half year ended June 30, 2021.
2021.09.30 Approved the offering and issuance of the 1st domestic unsecured convertible bond in the R.O.C.
Noted the Company's consolidated financial statements and the independent auditor's review report for the nine
months ended September 30, 2021.
2021.11.12 Approved the establishment of the Company's "Stock Ownership Guidelines".
Approved the establishment of the Company's "Officers Stock Ownership Trust Plan".
Noted the Company's Board Performance Evaluation Report of 2021.
2021.12.09 Approve the appointment of the auditors of the Company for the financial year of 2022 and the evaluation of the
independence and suitability of the engaged CPAs.
Approved the Company's audited consolidated financial statements and the Independent Auditor's Report for year
ended 31st December, 2021.
Approved the 2021 Business Report of the Company.
Approved the Company's plan to raise long-term capital.
2022.02.25 Approved to offer and issue the first NT dollar-denominated unsecured corporate bonds in Taiwan in 2022.
Approved the change of Corporate Governance Officer effective from 25th February, 2022.
Approved the total compensation of directors and key managers for year 2021, which includes employee's compensation
and directors' compensation.
Approved the Date, Venue and its close period of Register of Members for the Annual General Meeting of 2022.
12. Major issues of record or written statements made by any Director or Supervisor dissenting to important
resolutions passed by the Board of Directors: None.
13. Resignation of persons relative to the company’s financial statement (including the chairman, presidents,
accounting officer and audit officer) in the latest year and before the publication date of the annual report:
Date of
Title Name Date of Discharged Reason of Resignation or Dismissal
Appointment
Corporate Governance Officer Kun-Huang Chan 2015/01/01 2022/02/25 Position adjustment
(4) Information regarding certified public accountant

Accounting Firm Name of CPA Audit Period Audit fee Non-Audit Fee Total Note
Wan-Wan Lin Non-Audit Fee including
KPMG 2021/1/1~12/31 7,370 660 8,030 Company Registration 220
Shu-Min Shu Tax consult service 440
Note: To prepare Country-by-Country report.
66
1. Non-audit fees paid to the certified public accountant, to the accounting firm of the certified public accountant
and to any affiliated enterprise of such accounting firm are equivalent to one quarter or more: N/A.
2. Describe the amount and reason if the accounting firm has been changed and the audit fees paid in the fiscal year

when such change took place are lower than those in the previous year: N/A.
3. Describe the amount, percentage and reason if the audit fees paid in the current year are lower than those in the
previous fiscal year by 15 percent or more: N/A.
4. Information on the change in CPA: N/A.
5. If the chairman, general manager or any manager in charge of finance or accounting matters has held a position
at the accounting firm of its certified public accountant or at an affiliated enterprise of such accounting firm in
the most recent year, the name, position of the person and tenure shall be disclosed. The CPAs of the certifying
CPA's firm own has exceeded 50 percent of the firm shares or acquisitions exceeded half of the Board seats or the
entities or institutions are named as affiliates in externally circulated materials of the engagement partner's firm or
a network or a network firm. : None.
6. Evaluation of the External Auditor's Independence and suitability: Before the board of directors of the Company
decides to appoint the certified public accountant, it must first completed the evaluation accountant's
independence and suitability and requires the accountant to provide a "CPAs' independent letter" and refer to the
Certified Public Accountant Act and the Bulletin of Norm of Professional Ethics for Certified Public Accountant of
the Republic of China No.10 Integrity and related laws and regulations for setting up an independent evaluation
form. The evaluation will ensure that the accountants and the Company had no other financial interests and
business relationships other than the audit, business registration and tax consultation. Family members of
theirs should not violate the independence rules. After the evaluation, the company will then proceed to the
deliberation of the appointment.
(5) Shareholding Transferred or Pledged by Directors, Management, and Major

Shareholders Who Holds 10% of the Company Shares or More
2021 2022/1/1~2022/3/22
Title Name Net Change in Net Change in Net Change in Net Change in
Shareholding Shares Pledged Shareholding Shares Pledged
Fong-Long Chen (Authorized
representative of Chun An 140,578 - - -
Chairman Investment Co., Ltd.)
Chun An Investment Co., Ltd. 1,638,936 (2,200,000) - -
Andre J.L. Koo (Authorized
representative of Chun An - - - -
Director Investment Co., Ltd.)
Chun An Investment Co., Ltd. 1,638,936 (2,200,000) - -
Hsiu-Tze Cheng (Authorized
Representative of Chun An 29,543 - - -
Director Technology Co., Ltd.)
Chun An Technology Co., Ltd. 1,562,810 (1,500,000) - -
King Wai Alfred Wong (Authorized
representative of Chun An - - - -
Director Technology Co., Ltd.)
Chun An Technology Co., Ltd. 1,562,810 (1,500,000) - -
Chih-Yang Chen (authorized
Representative of Li Cheng - - - -
Director Investment Co., Ltd.)
Li Cheng Investment Co., Ltd.) 5,463 - - -
Director Chee Wee Goh - - - -
Independent
Casey K. Tung - - - -
Director
Independent
Steven Jeremy Goodman - - - -
Director
Independent
Ching-Shui Tsou - - - -
Director
67
2021 2022/1/1~2022/3/22
Title Name Net Change in Net Change in Net Change in Net Change in
Shareholding Shares Pledged Shareholding Shares Pledged
President Fong-Long Chen 140,578 - - -
Important
Regional Operating
Officer (Chailease
Kuen-Ming Chen 52,924 - - -
International
Finance
Corporation)
Important Regional
Operating Officer
Ming- Ching Hou 49,967 - - -
(Chailease Finance
Co., Ltd.)
Chief Human
Hsiu-Tze Cheng 29,543 - - -
Resource Officer
Chief Strategy
Ying-Chih Liao - - - -
Officer
Internal Audit
Chung-Chiang Yang 51 - - -
Officer
Finance and
Wen-Cheng Chen - - - -
Accounting officer
Risk Management
Jenn-Yuan Liu 16,540 - - -
Officer
Information
Joseph Tseng (10,000)(A) - - -
Technology Officer
Executive Vice
Mei-Fang Fan - - - -
President
Executive Vice 2,350
Jyh-Her Wei - - -
President (21,000)(A)
Executive Vice
Huei-Yeu Yang (Note 1) - - - -
President
ASEAN Chief
Yeu-Horng Jeng - - - -
financial officer
Project Executive
Kao-Jui Tzeng - - - -
Vice President
Senior Vice
Yu-Ting Weng 8,432 - - -
President
Senior Vice
Chin-Tse Liu 4,295 - - -
President
Senior Vice (6,379) (1,000)
Shih-Wei Chien - -
President (27,904)(A)
Senior Vice
Jing-Ying Sun 4,262 - - -
President
Senior Vice
Kun-Huang Chan (Note 2) 2,956 - - -
President
Senior Vice
Tsai-Tung Li - - - -
President
Senior Vice
Hsiao-Tung Li (Note 3)
President
Vice President Kuan-Cheng Chen - - - -
Vice President Nai-Feng Jiang 206 - - -
Vice President Kung-Hao Hsu 2,569 - - -
Vice President Zhi-Long Wu (Note 4) - - - -
Note : Changes in the number of shares are series A preferred shares, marked as (A), and those not marked as common shares.
Note 1 : Mr. Huei-Yeu Yang held the position on 2022/1/20.
Note 2: Mr Kun-Huang Chan left the position on 2022/2/25.
Note 3 : Ms. Hsiao-Tung Li held the position on 2022/1/15.
Note 4 : Mr. Zhi-Long Wu held the position on 2022/2/1.
68
(6) Relationship Between Top Ten Shareholders Defined as Related Parties,
Spouse or a Relative within Two Degrees as defined under the Statement of
Financial Accounting Standards No.6

March 22, 2022 Unit: Share
10 largest shareholders
and related parties
Spouse
Shareholding as defined under the
Shareholding & minor
entitled other name Statement of Name
Name shareholding
Financial Accounting Remarks
Standards No. 6
Position
Share % Share % Share % Relations
(name)
TFO GLOBAL MARKET FUND 50,529,707 3.16% - - - - - - -
PACIFIC GROWTH PRIVATE EQUITY
48,475,745 3.03% - - - - - - -
FUND
GRAND PACIFIC INVESTMENT &
46,285,091 2.89% - - - - - - -
DEVELOPMENT CO., LTD
CHAIRMAN: PING- CHANG,HUANG 60,000 0.00% 26,576 0.00% - - - - -
LONG TERM STRATEGIC
43,311,178 2.71% - - - - - - -
INVESTMENT FUND
EASTERN DRAGON INVESTMENT
36,359,370 2.27% - - - - - - -
FUND
MCKALLY GLOBAL INVESTORS
36,092,648 2.26% - - - - - - -
FUND
LTG CAPITAL PARTNERS FUND 36,092,648 2.26% - - - - - - -
CHUN AN INVESTMENT CO., LTD. 34,417,656 2.15% - - - - - - -
CHAIRMAN: ANDRE J.L. KOO - - 34,201 0.00% 139,803,423 8.74% - - -
CHUN AN TECHNOLOGY CO., LTD. 32,819,024 2.05% - - - - - - -
CHAIRMAN: ANDRE J.L. KOO - - 34,201 0.00% 139,803,423 8.74% - - -
FIDELITY FUNDS 32,589,264 2.04% - - - - - - -
Note: The series shows the shareholding ratio of the top ten shareholders. (Common shares and Preferred shares A are included). Issuing shares of Common shares and
Preferred shares A are1,600,394,432 shares.
69
(7) Long term investment ownership (controlled either directly or indirectly) by
the company, its directors and supervisors
As of 12/31/2021
Ownership by Directors,
Ownership by The Managers and Directly/
Total Ownership
Company Indirectly Owned
Long-term Investment Subsidiaries
Shares % Shares % Shares %
Chailease International Company(Malaysia) Limited 1,614,372 100.00% - - 1,614,372 100.00%
Golden Bridge(B.V.I.) Corp. 506,150 100.00% - - 506,150 100.00%
Chailease International Financial Services Co., Ltd 97,000 100.00% 97,000 100.00%
Grand Pacific Holdings Corp. 3,927 51.00% 3,773 49.00% 7,700 100.00%
Chailease International Company(Hong Kong)

17,100 100.00% - - 17,100 100.00%
Limited
Chailease International Financial Services (Singapore)
109,000 100.00% - - 109,000 100.00%
Pte. Ltd.
Chailease International Financial Services (Liberia)
( note 2) 100.00% - - ( note 2) 100.00%
Corp.
Chailease International Financial Services (Labuan)
30 100.00% - - 30 100.00%
Co., Ltd.
Chailease International Maritime Holding Co., Ltd. ( note 6) 100.00% - - ( note 6) 100.00%
Chailease International Fortune Corp(Liberia) ( note 2) 100.00% - - ( note 2) 100.00%
Chailease Bright Co., Ltd. ( note 2) 100.00% ( note 2) 100.00%
Chailease Cherish Co., Ltd. ( note 2) 100.00% ( note 2) 100.00%
Chailease Virtue Co., Ltd. ( note 2) 100.00% ( note 2) 100.00%
Chailease Harmony Co., Ltd. ( note 6) 100.00% ( note 6) 100.00%
Chailease Blossom Co., Ltd. ( note 6) 100.00% ( note 6) 100.00%
Chailease Glory Co., Ltd. ( note 6) 100.00% ( note 6) 100.00%
Chailease Faith Co., Ltd. ( note 6) 100.00% ( note 6) 100.00%
Chailease International Company (UK) Limited 683,287 100.00% 683,287 100.00%
Chailease Berjaya Credit Sdn. Bhd. 105,000 70.00% 105,000 70.00%
Chailease Royal Leasing Plc. 3,000 60.00% 3,000 60.00%
Chailease Royal Finance Plc. 9,312 60.00% 9,312 60.00%
Chailease Royal Insurance Broker Plc. 90 60.00% 90 60.00%
Chailease Berjaya Finance Corporation 410,000 63.08% 410,000 63.08%
70
Total Ownership

Chailease Agency Sdn. Bhd. 70 70 .00% 70 70.00%
Chailease Services Sdn. Bhd. 70 70.00% 70 70.00%
Chailease Finance Co., Ltd. - - 2,422,500 100.00% 2,422,500 100.00%
Asia Sermkij Leasing Public Company Limited - - 266,319 50.45% 266,319 50.45%
Fina Finance & Trading Co., Ltd. - - 1,016,300 100.00% 1,016,300 100.00%
Chailease Specialty Finance Co., Ltd. - - 249,561 100.00% 249,561 100.00%
Chailease Finance (B.V.I.) Company, Ltd. - - ( note 5) 100.00% ( note 5) 100.00%
Chailease International Leasing Company Litmited

- - ( note 1) 100.00% ( note 1) 100.00%
(Vietnam)
Chailease International Tradinging Company Limited
- - ( note 1) 100.00% ( note 1) 100.00%
(Vietnam)
Chailease Auto Rental Co., Ltd. - - 155,983 100.00% 155,983 100.00%
Chailease Insurance Brokers Co., Ltd. - - 800 100.00% 800 100.00%
Chailease Cloud Service Co., Ltd. - - 2,500 100.00% 2,500 100.00%
Yun Tang Inc. - - ( note 1) 100.00% ( note 1) 100.00%
Chailease Energy Integration Co., Ltd. - - 5,000 100.00% 50,000 100.00%
Chailease Power Technology Co., Ltd. - - 77,000 100.00% 77,000 100.00%
Chung Cheng Energy Integration Co., Ltd 30,340 100.00% 30,340 100.00%
Ho Lien Energy Integration Co., Ltd 346,059 100.00% 346,059 100.00%
Chailease Finance Securitization Trust 2019 ( note 3) 100.00% ( note 3) 100.00%
Tai Yuan Energy Integration Co., Ltd 117,005 100.00% 117,005 100.00%
Chung Ho Energy Integration Co., Ltd 279,212 100.00% 279,212 100.00%
Chung Yen Energy Integration Co., Ltd 77,540 100.00% 77,540 100.00%
Tung Feng Inc. ( note 1) 100.00% ( note 1) 100.00%
He To Energy Integration Co., Ltd. 50 100.00% 50 100.00%
Chung Yu Energy Integration Co., Ltd. 50 100.00% 50 100.00%
Jung Yu Energy Integration Co., Ltd. 228,221 100.00% 228,221 100.00%
71
Total Ownership
Chung Wei Energy Integration Co., Ltd. 50 100.00% 50 100.00%
Tung Ching Inc. ( note 1) 100.00% ( note 1) 100.00%
Chailease Consumer Finance Co.,Ltd. - - 345,304 100.00% 345,304 100.00%
Chailease Credit Services Co., Ltd. - - 1,000 100.00% 1,000 100.00%
Chuang Ju Limited Partnership - - ( note 4) 100.00% ( note 4) 100.00%
Sing Chuang Limited Partnership - - ( note 4) 100.00% ( note 4) 100.00%
Bangkok Grand Pacific Lease Public Company Limited - - 55,306 50.45% 55,306 50.45%
SK Insurance Broker Co., Ltd. - - 505 50.45% 505 50.45%
Chailease Capital (Thailand) Company Limited 40,000 100% 40,000 100%
Grand Pacific Financing Corp. - - 1,000 100.00% 1,000 100.00%
Grand Pacific Main Street Development, Inc - - (note 2) 100.00% (note 2) 100.00%
My Leasing (Mauritius) Corp. - - 285,655 100.00% 285,655 100.00%
PT Chailease Indonesia Finance 97,500 75.00% 97,500 75.00%
PT Chailease Finance Indonesia - - 2,125,000 85.00% 2,125,000 75.00%
Chailease Management Consulting Co., Limited 500 100.00% 500 100.00%
Chailease International Finance Corporation - - ( note 1) 97.85% ( note 1) 97.85%
Chailease Finance International Corp. - - ( note 1) 98.39% ( note 1) 98.39%
Chailease International Corp. - - ( note 1) 97.85% ( note 1) 97.85%
Jirong Real Estate Co., Ltd. - - ( note 1) 97.85% ( note 1) 97.85%
Chailease International Commercial Factoring

( note 1) 97.89% ( note 1) 97.89%
Corporation
Chailease Commercial Factoring Corporation ( note 1) 97.89% ( note 1) 97.89%
Chu Chiang Solar Energy Inc. - - ( note 1) 100.00% ( note 1) 100.00%
Tien Sin Intelligent Green Energy Co., Ltd. - - 54,400 80.00% 54,400 80.00%
Tien Jen Energy Co., Ltd. - - 54,400 80.00% 54,400 80.00%
Tien Chu Energy Co., Ltd. - - 54,400 80.00% 54,400 80.00%
72
Total Ownership

Tien Ying Energy Co., Ltd. - - 102,400 80.00% 102,400 80.00%
Tien Jui Energy Co., Ltd. - - 54,400 80.00% 54,400 80.00%
Chung Ming Co., Ltd. - - 30,005 100.00% 30,005 100.00%
Chung Yao Co., Ltd. - - 2,005 100.00% 2,005 100.00%
Yao Jih Co., Ltd. - - 5 100.00% 5 100.00%
Ho Hsuan Co., Ltd. - - 125,312 100.00% 125,312 100.00%
Hsia Ching Co., Ltd. - - 5 100.00% 5 100.00%
Tien Hsing Integration Co., Ltd. - - 100 100.00% 100 100.00%
Note 1: Limited Company, there are no issued shares

Note 2: share holding less than 1,000 shares
Note 3: Special Purpose Entity
Note 4: limited partnership, there are no issued shares
Note 5: Chailease Finance (B.V.I.) Company Ltd. has reduced its capital and returned its entire all shares on December 27, 2021, with the liquidation process still in progress.
Note 6: The initial equity capital has not been injected.
(8) Situation of company managers participating in corporate governance

learning and training
Position Name Organizer Name of the course Hour
Business Management Risks and Corporate
3.0
Taiwan Corporate Governance
Governance Association Fiduciary Duty of the Board of Director and Business
3.0
Judgment Rule
3.0
Chief Human Governance Association Fiduciary Duty of the Board of Director and Business
Hsiu-Tze Cheng 3.0
Resources Officer Judgment Rule
Securities & Futures Discussion on Human Resource and M&A Integration
3.0
Institute Issues in the Process of Enterprise M&A
3.0
Governance Association Fiduciary Duty of the Board of Director and Business
3.0
Internal Audit Judgment Rule
Chung-Chiang Yang
Officer How to Use Digital Technology to Explore and
The Institute of Internal Improve Operational Processes and Fraud Detection-- 6.0
Auditors-Chinese Taiwan Discussion on Auditing Practices
Business Contract Management and Audit Practices 6.0
3.0
Governance
Fiduciary Duty of the Board of Director and Business
Taiwan Corporate 3.0
Judgment Rule
(Former) Governance Association
Full Penetration? Talking About the Actual Combat
Corporate
Kun-Huang Chan Strategies of the Offensive and Defensive Ends of 3.0
Governance
Business Secrets
Officer
Corporate M&A Practice Sharing-Focusing on Hostile
3.0
Securities & Futures M&A
Institute Business Management Risks and Corporate
3.0
Governance
73
2021 Continuing Training Course for Accounting
Finance and Accounting Research and
Wen-Cheng Chen Supervisors of Issuers, Securities Firms and Stock 12.0
Accounting Officer Development Foundation
Exchanges
3.0
Chief Strategy Taiwan Corporate Governance
Ying-Chih Liao
Officer Governance Association Fiduciary Duty of the Board of Director and Business
3.0
Judgment Rule
3.0
Risk Management Taiwan Corporate Governance
Jenn-Yuan Liu
Officer Governance Association Fiduciary Duty of the Board of Director and Business
3.0
Judgment Rule
3.0
Information Taiwan Corporate Governance
Joseph Tseng
Technology Office Governance Association Fiduciary Duty of the Board of Director and Business
3.0
Judgment Rule
(9) Continuing educational training of the Directors and independent Directors:

In addition to the personal professional experiences and skills, the directors of the company should also be possessed
with expertise of business planning and operation related to the nature of the business.
To strengthen the professionalism of the board members, training programs related to financial industry, such as risk
management, financial accounting, legal compliance, latest law amendments, business operations, corporate social
responsibility or internal control systems and other related courses will be selected.
There will be at least six hours training courses per person every year to enhance the board members receive certain
comprehension of industry and acquire new knowledge.
The details of their continuing professional development in 2021 described as follows:
Fong-Long Chen Business Management Risks and Corporate Governance 3.0
(Authorized representative Taiwan Corporate
Chairman
of Chun An Investment Governance Association Fiduciary Duty of the Board of Director and Business 3.0
Co., Ltd.) Judgment Rule
Andre J.L. Koo (Authorized Business Management Risks and Corporate Governance 3.0
Taiwan Corporate
Director representative of Chun An
Governance Association Fiduciary Duty of the Board of Director and Business 3.0
Investment Co., Ltd.) Judgment Rule
Business Management Risks and Corporate Governance 3.0
Taiwan Corporate
Governance Association Fiduciary Duty of the Board of Director and Business 3.0
Judgment Rule
Hsiu-Tze Cheng Taiwan Corporate
Fiduciary Duty of the Board of Director and Business
(Authorized representative Governance Association 3.0
Director Judgment Rule
of Chun An Technology
Co., Ltd.) Securities & Futures Discussion on Human Resource and M&A Integration Issues
3.0
Institute in the Process of Enterprise M&A
Chih-Yang Chen Business Management Risks and Corporate Governance 3.0
Director
of Li Cheng Investment Governance Association Fiduciary Duty of the Board of Director and Business 3.0
King Wai Alfred Wong Business Management Risks and Corporate Governance 3.0
Director
of Chun An Technology Governance Association Fiduciary Duty of the Board of Director and Business 3.0
Independet Taiwan Corporate
Ching Shui Tsou
director Governance Association Fiduciary Duty of the Board of Director and Business 3.0
Judgment Rule
Steven Jeremy Goodman
Judgment Rule
Casey K. Tung
Judgment Rule
74
(10) Certification details of employees whose jobs are related to the release of
the company's financial information:

The certificate that the financial transparency related personnel received is described as follows:
Related personnel Certificate & lisence People
Certified Public Accountant in Taiwan 6
Certified Public Accountant 2
Financial and accounting personnel Professional certification of Principal Accounting Officers of Issuers, Securities
2
Firms and Securities Exchanges
Certified Internal Auditor 4
Certified Public Accountant 2
Internal auditor Certified Internal Auditor 2
Certified Information Systems Security Professional 1
(11) Working environment and employee safety protection

The Company provides employees with a safe, healthy and comfortable working environment. Other protection
measures regarding the personal safety of employees conform to the regulations of labor as well as the internal
measures of employee benefits.
Items Description
24 hours entrance guard system
Entrances controlling Security service person set up with regularly patrols in building and parking lot entrances to secure the
safety of the office.
Professional service agent set up to maintain the equipment and facilities of the office. Regularly building
Safety Inspection
Equipment and facilities
Regularly fire-fighting exercises.
Maintenance
Regularly maintenance to elevator, air conditioner, fire-fighting equipment, office cleaning services and
water quality controlling.
For complying with the government policy, smoking is total banned on in the workplace, and no smoking
signs affixed to remind staff not to smoke in the workplace, in order to preserve the quality the work
environment. Setting sphygmomanometer, heart defibrillator and providing Health Examination and
Medical Coverage.
Physical/psychological
Established the Occupational Safety and Health Management Guidelines and Occupational Safety and
health care
Health Committee to promote the major policies of Health Promotion, Environment safety and Engineering
Management.
Promote the Employee Assistance Programs (EAPs) , Stress Management Program EAP(0800) and provide
relieve stress class
Providing National Health Insurance, Labor Insurance, Group Insurance. If the circumstances of the casualties
have occurred to employees, the Human Resource Department will assist with related insurance matters.
Employee Insurance
Hired a full-time nurse and a doctor for consultation to provide, in a more professional manner, a healthier
workplace for the benefit of all employees.
Founded Employee Welfare Committee, responsible for the welfare of all my colleagues in the job, which
include welfare assistance, education grants, community activities and other benefits aids.
Annual budget and expenditure were discussed and monitored regularly by the members of the Welfare
Employee Welfare Committee. The annual budget may have a good effect of emotional stability to employees.
Providing maternity welfare grants each year, education grants to employees’ children, hospitalization and
other subsidies.
Organizing staff traveling to enhance the emotional connection between the employees.
To reward employees, stable staff working or living after retirement, the company set the management
Employee retirement
regulations to employee retirement according to the Labor Standards Act and its associated regulations
75
IV. Capital and Shares
(1) Capitalization
Unit: Thousand shares; Unit: NT$ Thousands
Authorized Capital Paid-up capital Remarks
Year Price
Month (Par value) Non-Cash.
Shares Amount Shares Amount Sources of Capital Other
Payments
capitalization of
NTD10
2021.09.03 2,500,000 NTD25,000,000 1,600,394 NTD16,003,944 retained earnings No Note 1
per share
NTD690,664,010
Note : TWSE approved the capitalization on 2021.08.20, the company issued 69,066,401 common shares for capital increase.
Unit: Shares
Authorized Capital
Type of Stock Note
Issued shares Unissued shares Total
Common Shares 1,450,394,432
899,605,568 2,500,000,000 Listed Shares
Preferred Shares 150,000,000
(2) Composition of Shareholders

(2-1) Common Shares
(Par value per share: NT$10)
March 22, 2022
Foreign Mainland China
Government Fianacial Other legal Domestic
Structure Voulme institutions and institutions and Total
agencies institutions entities individuals
individuals individuals
Number of
5 10 269 40,109 1,759 1 42,153
shareholders
Shareholdings
17,530,458 12,965,583 142,125,991 164,760,703 1,113,003,197 8,500 1,450,394,432
(shares)
Holdings
1.21% 0.89% 9.80% 11.36% 76.74% 0.00% 100.00%
percentage
(2-2) Preferred Shares

March 22, 2022
Foreign Mainland China
Government Fianacial Other legal Domestic
Structure Voulme institutions and institutions and Total
agencies institutions entities individuals
individuals individuals
Number of
0 13 101 12,921 62 0 13,097
shareholders
Shareholdings
0 35,993,180 53,202,114 56,617,898 4,186,808 0 150,000,000
(shares)
Holdings
0.00% 24.00% 35.47% 37.75% 2.79% 0.00% 100.00%
percentage
76
(3) Distribution profile of share ownership
(3-1) Common Shares

March 22, 2022
Class of shareholdings Number of shareholders Total shares owned Ownership percentage
1~999 21,235 3,901,323 0.27%
1,000 ~ 5,000 14,879 28,725,296 1.98%
5,001 ~10,000 2,246 15,861,037 1.09%
10,001 ~15,000 949 11,533,163 0.80%
15,001 ~ 20,000 464 8,125,248 0.56%
20,001 ~ 30,000 513 12,461,451 0.86%
30,001 ~ 40,000 320 11,064,626 0.76%
40,001 ~ 50,000 163 7,377,807 0.51%
50,001 ~ 100,000 491 34,596,637 2.39%
100,001 ~ 200,000 313 44,452,240 3.06%
200,001 ~ 400,000 201 56,797,334 3.92%
400,001 ~ 600,000 94 46,561,944 3.21%
600,001 ~ 800,000 57 38,805,311 2.68%
800,001 ~1,000,000 33 29,205,014 2.01%
Over 1,000,001 (Classification can be carried
195 1,100,926,001 75.91%
out based on the practical situation.)
Total 42,153 1,450,394,432 100.00%
(3-2) Preferred Shares

March 22, 2022
Class of shareholdings Number of shareholders Total shares owned Ownership percentage
1~999 7,103 1,219,044 0.81%
1,000 ~ 5,000 4,898 7,178,704 4.79%
5,001 ~10,000 388 3,098,672 2.07%
10,001 ~15,000 154 1,974,474 1.32%
15,001 ~ 20,000 83 1,545,628 1.03%
20,001 ~ 30,000 113 2,881,201 1.92%
30,001 ~ 40,000 57 2,044,764 1.36%
40,001 ~ 50,000 50 2,362,594 1.58%
50,001 ~ 100,000 109 8,782,368 5.85%
100,001 ~ 200,000 51 7,884,319 5.26%
200,001 ~ 400,000 39 10,803,623 7.20%
400,001 ~ 600,000 13 6,508,503 4.34%
600,001 ~ 800,000 8 5,700,633 3.80%
800,001 ~1,000,000 6 5,575,913 3.72%
Over 1,000,001 (Classification can be carried
25 82,439,560 54.96%
out based on the practical situation.)
Total 13,097 150,000,000 100.00%
77
(4) Major Shareholders
March 22, 2022
Shares Major shareholders Total shares owned Ownership percentage
TFO GLOBAL MARKET FUND 50,529,707 3.16%
PACIFIC GROWTH PRIVATE EQUITY FUND 48,475,745 3.03%
GRAND PACIFIC INVESTMENT & DEVELOPMENT CO., LTD 46,285,091 2.89%
LONG TERM STRATEGIC INVESTMENT FUND 43,311,178 2.71%
EASTERN DRAGON INVESTMENT FUND 36,359,370 2.27%
MCKALLY GLOBAL INVESTORS FUND 36,092,648 2.26%
LTG CAPITAL PARTNERS FUND 36,092,648 2.26%
CHUN AN INVESTMENT CO., LTD. 34,417,656 2.15%
CHUN AN TECHNOLOGY CO., LTD. 32,819,024 2.05%
FIDELITY FUNDS 32,589,264 2.04%
Note: The series shows the shareholding ratio of the top ten shareholders. (Common shares and Preferred shares A are included). Issuing shares of Common shares and
Preferred shares A are1,600,394,432 shares.
(5) Market price, net worth, earnings, and dividends per share for the past two
years
Year At the end of
2020 2021
Item March 22, 2022
Highest (NTD,Note 1) 170.5 283.5 273.5
Market price per share Lowest (NTD,Note 1) 77.0 150.5 224
Average (NTD,Note 1) 128.35 217.64 253.31
Before distribution (NTD) 58.27 65.24 -
Net worth per share
After distribution (NTD) 53.14 Note 2 -
Weighted Average Common Shares Outstanding(‘
1,450,394 1,450,394 -
000 Shares)
Earnings Per Share 12.20 14.80 -
Earnings Per Share(NTD)
After adjustment 11.62 Note 2 -
Cash dividends(NTD) (Note 2) 5.0 6.0 -
Retained Earnings 0.5 0.5 -
Dividends per share Stock Dividends
Capital Surplus - - -
Accumulated unpaid dividends (NTD'000) - - -
Price/Earnings Ratio (Note 3) 10.52 14.71 -
Analysis of return on
Price/Dividends Ratio (Note 4) 25.67 Note 2 -
investment
Cash Dividends Yield Rate (Note 5) 3.90% Note 2 -
Note 1 : The information on the share price comes from TWSE.
Note 2 : The amount of 2021 dividends subject to shareholders' resoluction.
Note 3 : Price/Earnings Ratio = Average closing price per share/EPS
Note 4 : Price/Dividends Ratio = Average closing price per share /cash dividend per share
Note 5 : Cash Dividends Yield Rate = Cash dividend per share/ Average closing price per share
78
(6) Dividend policy and distribution of profit
1. Dividend policy in Articles of Association

According to the Articles of Association, which was revised through a resolution approved by the stockholders
during their meeting on May 27, 2020, the Company is required to appropriate earnings every accounting year.
Upon the final settlement of the Company's annual accounts, if there are profits, the Company shall set aside
out of the profits for each financial year: (i) a reserve for payment of tax for the relevant financial year; (ii) an
amount to offset losses incurred in previous years; and (iii) a special surplus reserve as required by the applicable
securities authority under the Applicable Public Company Rules, and the remaining profits shall be allocated first
as the dividends of the Preferred Shares ("Preferred Dividends") payable in such financial year; The dividend rate
of Preferred Shares is capped at 8% per annum on the issue price per share. Cash dividends shall be distributed
annually at one time. Once the Company's audited financial reports have been acknowledged in the annual
general meeting, the Board of Directors shall set the record date for the distribution of Preferred Dividends of
such financial year. In the year of issuance and redemption of the Preferred Shares, the distribution of Preferred
Dividends shall be calculated on the basis of actual number of days the Preferred Shares being outstanding in that
year. Except for the foregoing Preferred Dividends, the holders of the Preferred Shares ("Preferred Shareholders")
are not entitled to participate in the distribution of cash or stock dividends derived from earnings or capital
reserves; The Company has sole discretion on the distribution of Preferred Dividends. In the event that there are
no profits or insufficient profits for distributing Preferred Dividends, or due to other necessary considerations, the
suspension of distributing Preferred Dividends shall not be deemed as an event of default under any agreements
and directions in relation to the issuance of such Preferred Shares. The Preferred Shares issued by the Company
shall be non-cumulative preferred shares. Any undistributed Preferred Dividends or shortfalls in Preferred
Dividends distributed shall not be cumulative and shall cease to accrue and be payable, therefore no deferred
payment will be paid in subsequent years where there are earnings; If there are profits of each financial year
after combining accumulated undistributed earnings in the previous years and setting aside a certain amount of
remaining profits of such financial year as a reserve for development purposes as the Directors may from time to
time deem proper pursuant to Article 121 ("Annual Profits"), to the extent permitted by the Companies Law, at
least 25% of such Annual Profits shall be distributed as dividends, of which at least 30% shall be paid in cash, as
proposed by the Board of Directors and subject to approval of the Members by Ordinary Resolution in a general
meeting.
2. The resolved appropriation of dividends this year
The earning appropriation plan of 2021 was approved in the Board meeting on March 30, 2022 to pay the
cash dividend of NT$6.0 per share to shareholders(NT$8,702,366,592in total), and the stock dividend of NT$0.5
per share to shareholders(72,519,721 shares). The proposal will be presented to the shareholder meeting for
resolution.
(7) Effect upon business performance and earnings per share of any stock
dividend distribution proposed or adopted at the most recent shareholders'
meeting:
The company is not required to prepare financial forecasts for 2022, therefore not apply.
79
(8) Employee profit sharing and Directors' and supervisors' compensation
1. The percentage or coverage of employees' bonuses and remunerations to Directors and supervisors Employees
bonuses:
(1) Employees’ Compensation:
A. The employees' compensation should be between 0.01% and 1% of the surplus profits before tax.
B. The employees' compensation may be paid, at the discretion of the Directors, by way of cash or by way of
applying such sum in paying up in full unissued shares for allocation and distribution crediting them as
fully paid up shares to employees. When the employees' bonuses are distributed by way of an issue of fully
paid shares, the recipients may include qualified employees of the Subsidiaries. No unpaid dividends and
bonuses shall bear interest as against the Company.(2)Remuneration to Directors:
(2) The remuneration to the Directors shall be paid in cash only. The amount of such remuneration is authorized
to be decided upon by the Board of Directors by reference to the suggestion made by the compensation
committee, the standards generally adopted by other enterprises in the same industry, and shall be paid
regardless of whether the Company has profits or suffers losses.
(3) Bonus to Directors:The Directors' bonus shall be between 0.01% and 0.1% of the surplus profits before tax.
2. The basis for estimating the amount of employees' bonuses and remunerations of Directors/ supervisors, the
basis for calculating the distribution of stock dividends and the accounting treatment of the discrepancies, if any,
between the actual distributed amount and the estimated amount will follow the principle described below:
Pursuant to the Articles of Association, the Company estimates the proposed distribution of employees' bonuses
and remunerations for Directors and supervisors. If there are differences between the proposed and the actual
distribution, the difference will be estimated and listed in the coming income statement.
3. The proposal for employee bonus distribution approved by the Board of Directors:
(1) If the distributed cash dividends to employees, stock dividends and the remunerations for Directors and
supervisors are different from the estimated amount in the year when the expense should be recognized, the
difference, reason and solution should be disclosed. The Board on February 25, 2022 proposed to pay cash to
employees of NT$3,531,096 and the remunerations to Directors of NT$20,045,000.
(2) The percentage of the proposed stock dividends to employees in the net profit income and the total of the
employee benefits: N/A.
(3) Earnings per share after the proposed distribution of employees' bonuses and remunerations for Directors and
supervisors: None. The employees' bonuses and remuneration's to Directors and supervisors are paid in cash.
4. The actual distribution of the employees' bonuses and remunerations to Directors and supervisors (including
the distributed shares, amount and price) in the previous year, the difference between the actual amount and
recognized amount as well as the reasons and solutions: None.
(9) Buyback of common stock: N/A
80
(10) Issuance of corporate bonds
1. Issuance of corporate convertible bonds by The Company
2021:

Corporate bond category 2021 1st unsecured convertible corporate bond
Issuance date December 16, 2021
Face value NT$ 100 thousand
Place of issuance and trade ROC
Issuance price NT$ 100.5
Total issuance amount NT$ 6.03 billion
Coupon rate 0.0%
Tenor 3 years, Maturity date: December 16, 2024
Guarantor None
Trustee Land Bank of Taiwan
Underwriter KGI Securities
Certifying lawyer Lung-Tzung Hung
KPMG
Certifying accountant
Wan-Wan Lin, Shu-Min Hsu
Method of repayment Bullet repayment at maturity
Outstanding balance NT$ 6 billion
Terms and conditions for early redemption or repayment None
Restrictive clauses None
Ratings agency, date of rating, and rating awarded None
Amount of ordinary shares, global depository
receipts, or other securities converted (exchanged or
0
subscribed) up to the publication date of this annual
Other rights report
Issuance and conversion (exchange or subscription) Please refer to the Procedures for Issuance and Conversion of
terms Chailease Holding’s domestic unsecured convertible bonds.
Possible dilution of equity and impact on equity of existing If all the bonds are converted into common shares, the
shareholders due to subscription or issuance terms of issuance, maximum share dilution would be 2.27%. There is no significant
conversion and exchange of corporate bonds dilution and affects on shareholders’ equity.
Custodian of exchanged assets None
Corporate bond category 2021 1st unsecured convertible corporate bond

Year
2021 At the end of March 22, 2022
Item
Highest (NTD,Note 1) 113.10 112.55
Market Price per unit Lowest (NTD,Note 1) 105.5 106.65
Average (NTD,Note 1) 108.16 109.36
Convert price 299 299
2021/12/16 2021/12/16
Issuance date and Convert price at Issuance date
299 299
Method by which conversion obligations will be satisfied Issuance new shares Issuance new shares
Note 1: The information on the bond price comes from Taipei Exchange.
81
2. Issuance of corporate bonds by Chailease Finance Co., Ltd.：
(1) Chailease Finance Co., Ltd.
2014 ：
Corporate bond category 2014 2nd unsecured corporate bond
Issuance date October 30, 2014
Face value NT$ 10 million
Issuance price At 100% of face value
NT$ 2 billion
Total issuance amount (Tranche A : NT$ 0.9 billiont Tranche B : NT$ 1.1billion )
Tranche A : Fixed at 2.05% per annum，
Coupon rate
Tranche B :Fixed at 2.3% per annum
Tranche A: 7 years, Maturity date: October 30, 2021
Tenor
Tranche B : 10 years, Maturity date: October 30, 2024
Guarantor None
Trustee Mega International Commercial Bank
Underwriter None
Certifying lawyer Hui-Chi Kuo
KPMG
Wan-Wan Lin, Yi-Chun Chen
Outstanding balance NT$ 1.1 billion
Ratings agency, date of rating, and rating awarded Fitch Ratings Taiwan; September 1, 2014; A(twn)
receipts, or other securities converted (exchanged
None
or subscribed) up to the publication date of this
Other rights annual report
Issuance and conversion (exchange or
None
subscription) terms
Possible dilution of equity and impact on equity of existing
shareholders due to subscription or issuance terms of issuance,
None
conversion and exchange of corporate bonds
2016：
Corporate bond category 2016 1st unsecured corporate bond
Issuance date June 28, 2016
NT$ 1.65 billion
Total issuance amount (Tranche A : NT$ 1.35 billion Tranche B : NT$ 0.3 billion)
Tranche A : Fixed at 1.00% per annum
Coupon rate
Tranche B : Fixed at 1.25% per annum
Tranche A: 5 years, Maturity date: June 28, 2021
Tenor
Tranche B : 7 years, Maturity date: June 28, 2023
Guarantor None
Underwriter None
82
KPMG
Wan-Wan Lin, Yi-Chun Chen

receipts, or other securities converted (exchanged
None
or subscribed) up to the publication date of this
Other rights annual report
Issuance and conversion (exchange or
None
subscription) terms
Possible dilution of equity and impact on equity of existing
shareholders due to subscription or issuance terms of issuance,
None
conversion and exchange of corporate bonds
2017 ：
Issuance date May 17, 2017
NT$ 2.2 billion
Total issuance amount (Tranche A : NT$ 1.7 billion， Tranche B : NT$ 0.5
billion )
Coupon rate
Tranche B :Fixed at 1.7% per annum
Tranche A: 5 years, Maturity date: May 17, 2022
Tenor
Tranche B : 7 years, Maturity date: May 17, 2024
Guarantor None
Underwriter Yuanta Securities Co., Ltd.
KPMG
Chung-Yi Chaing, Yi-Chun Chen
Amount of ordinary shares, global depository receipts, or
other securities converted (exchanged or subscribed) up to
Other rights the publication date of this annual report None
Issuance and conversion (exchange or subscription) terms None

Possible dilution of equity and impact on equity of existing shareholders due
to subscription or issuance terms of issuance, conversion and exchange of
None
corporate bonds
83
Issuance date November 9, 2017
Total issuance amount NT$ 1 billion
Coupon rate Fixed at 1.1% per annum
Tenor 5 years, Maturity date: November 9, 2022
Guarantor None
Trustee Bank of Taiwan
KPMG
Outstanding balance NT$ 1 billion
other securities converted (exchanged or subscribed) up to None
Other rights the publication date of this annual report
Possible dilution of equity and impact on equity of existing shareholders
due to subscription or issuance terms of issuance, conversion and exchange
None
of corporate bonds
2018：
Issuance date September 26, 2018
NT$ 2.3 billion
Total issuance amount
(Tranche A : NT$ 1.6 billion， Tranche B : NT$ 0.7 billion )
Coupon rate
Tranche A: 5 years, Maturity date: September 26, 2023
Tenor
Tranche B : 7 years, Maturity date: September 26, 2025
Guarantor None
KPMG
Wan-Wan Lin, Tsao-Jen Wu
84

Possible dilution of equity and impact on equity of existing shareholders due
to subscription or issuance terms of issuance, conversion and exchange of
None
corporate bonds
2019：
NT$ 3.45 billion
Total issuance amount (Tranche A : NT$ 2.95 billion， Tranche B : NT$ 0.5 billion)
Coupon rate Tranche B : Fixed at 1.15% per annum
Tranche A: 5 years, Maturity date: May 9, 2024
Tenor
Tranche B: 7 years, Maturity date: May 9, 2026
Guarantor None
Underwriter Capital Securities Corporation
KPMG
other securities converted (exchanged or subscribed) up to
None
None
of corporate bonds
2020：
Issuance date April 22, 2020
Tenor 5 years, Maturity date: April 22, 2025
85
Guarantor None
KPMG
None
of corporate bonds

NT$ 1.25 billion
(Tranche A : NT$ 0.55 billion， Tranche B : NT$ 0.7 billion)
Coupon rate
Tenor
Tranche B: 10 years, Maturity date: October 12, 2030
Guarantor None
KPMG
due to subscription or issuance terms of issuance, conversion and exchange None
of corporate bonds
86
2021：
Issuance date June 25, 2021

NT$ 4.2 billion
(Tranche A : NT$ 3.1 billion， Tranche B : NT$ 0.9 billion，
Tranche C : NT$ 0.2 billion)
Coupon rate Tranche B : Fixed at 0.85% per annum，
Tranche C : Fixed at 1.00% per annum
Tranche A: 7 years, Maturity date: June 25, 2028
Tenor Tranche B: 10 years, Maturity date: June 25, 2031
Tranche C: 15 years, Maturity date: June 25, 2036
Guarantor None
Trustee Bank Sino Pac
KPMG
Wan-Wan Lin, Rou-Lan Kuo
of corporate bonds

NT$ 2.65 billion
(Tranche A : NT$ 1.55 billion， Tranche B : NT$ 1.1 billion)
Coupon rate
Tenor
Tranche B: 10 years, Maturity date: October 8, 2031
Guarantor None
KPMG
87
of corporate bonds
2022：
Issuance date March 30, 2022
NT$ 5.15 billion
(Tranche A : NT$ 2.7 billion， Tranche B : NT$ 1.55
billion，Tranche C : NT$ 0.9 billion)
Coupon rate Tranche B : Fixed at 1.15% per annum，
Tranche C : Fixed at 1.30% per annum
Tranche A: 5 years, Maturity date: March 30, 2027
Tenor Tranche B: 7 years, Maturity date: March 30, 2029
Tranche C: 10 years, Maturity date: March 30, 2032
Guarantor None
KPMG
ofcorporate bonds
88
(2)Issuance of corporate bonds by Fina Finance & Trading Co., Ltd.：
2019：

Tenor 5 years, Maturity date: May 29, 2024
Guarantor None
KPMG
Rou-Lan Kuo, Tsao-Jen Wu
Amount of ordinary shares, global
depository receipts, or other securities converted (exchanged None
Other rights or subscribed) up to the publication date of this annual report
ofcorporate bonds
2021：
Tenor 5 years, Maturity date: May 6, 2026
Guarantor None
Underwriter MasterLink Securities
KPMG
Shu-Min Hsu, Rou-Lan Kuo
89
of corporate bonds

Issuance date July 27, 2021
Tenor 5 years, Maturity date: July 27, 2026
Guarantor None
KPMG
Shu-Min Hsu, Rou-Lan Kuo
of corporate bonds
90
(11) Issuance of Preferred stock:
Issuance Date
2020 September 7th (Preferred Share)
Item

Par Value per share NT$ 10
Issue price NT$ 100
Number of shares issued 150,000,000 Shares
Total monetary value of the issuance NT$ 15,000,000,000
(1) The dividends of series A Preferred Shares is set at 3.8% (5-year IRS
0.5625%+3.2375%) per annum on the issue price. The IRS rate will be reset every
5 years. The record date for pricing is one business day prior to the pricing date
and the record date for reset is two business days prior to the interest rate reset
date. The IRS rate is the arithmetic mean of 5-year IRS rates appearing on Reuters
pages "TAIFXIRS" and"COSMOS3" at 11:00 a.m. (Taipei time) on the relevant record
date. If such rate cannot be obtained, the company will determine the rate based
on reasonable market price with good faith.
(2) If the Company posts earnings in its final accounts, in accordance with applicable
laws, it shall first be used for payment of tax obligations and making up of losses,
then set aside as legal reserve and allocated or reversed to the special reserve
fund. The remaining earnings, if any, may first be used to distribute preferred
Bonus and Dividend share dividends of the year.
(3) The Company has sole discretion on the distribution of preferred share
dividends. If no earnings are posted in the final accounts or earnings posted are
insufficient to distribute preferred share dividends, or based on other necessary
Rights and considerations, the Company may resolve not to distribute preferred share
Obligations dividends without it being deemed as an event of default.
(4) The Preferred Shares issued by the Company shall be non-cumulative preferred
shares. Any undistributed Preferred Dividends or shortfalls in Preferred Dividends
distributed shall not be cumulative and shall cease to accrue and be payable,
therefore no deferred payment will be paid in subsequent years where there are
earnings.
(5) Shareholders of preferred shares may not participate in the distribution of cash
and stock dividends of the common shares derived from earnings or reserves.
Upon any voluntary or involuntary liquidation, dissolution or winding-up of
the Company, any surplus assets of the Company available for distribution to
Distribution of residual property shareholders shall be first distributed to the Preferred Shareholders.
All Preferred Shareholders shall rank pari passu and such distribution shall be capped
at the respective issue amount.
Preferred shareholders have no right to vote or elect. Preferred shareholders have the
Voting right
right to vote at preferred shareholders' meeting.
Others Please refer to the offering memorandum
Amount of shares NT$0
converted NT$ 15,000,000,000
Outstanding balance 1. Preferred shares may not be converted to common shares.
Remaining
sum 2. Preferred shareholders have no right to request the Company to redeem the
preferred shares they hold , though the Company may redeem all or a part of
Redemption the outstanding issued preferred shares at any time after fifth anniversary of the
preferred shares issuance date. Unredeemed preferred shares continue to carry
rights and obligations of the issuance conditions set forth under this article.
Highest 101.5
Year 2020 Lowest 99.0
Market price Average 100.01

per share NT$ Highest 102.0
At the end of March
Lowest 101.0
31, 2021
Average 100.50
91
Issuance Date
2020 September 7th (Preferred Share)
Item
Amount of shares
converted (exchanged
or subscribed) up to Preferred shares may not be converted to common shares.
Other Rights the publication date of
this annual report
Issuance and
conversion (exchange N/A
or subscription) terms
Possible dilution of equity and impact on equity
of existing shareholders due to subscription or N/A
issuance terms of preferred share
Note:
(12) Issuance of global depositary shares

Item
October 15, 2012 October 17 2017
Issuance Date
Issuance and transaction location Bourse de Luxembourg Bourse de Luxembourg
Total Amount US$ 206,160,000 US$ 307,000,000
Issuance price per unit US$ 8.59 per unit US$ 12.28 per unit
Total of units 24,000,000 units 25,000,000 units
Common stocks issued for capital increase by Common stocks issued for capital increase by
Source of securities
cash cash
Amount of securities 120,000,000 shares 125,000,000 shares
Same as the rights and obligations of Same as the rights and obligations of
Right & Obligation of GDR holder
common shares common shares
Consigner Not Applicable Not Applicable
Depositary Bank JPMorgan Chase and Co. JPMorgan Chase and Co.
Custodian Taipei Branch of JPMorgan Chase and Co. Taipei Branch of JPMorgan Chase and Co.
Remaining sum (March 31, 2021) 247,025 units
Apportionment of expenses during
The Company The Company
issuance and existence
Important agreement in the deposit Refer to the deposit contract and custodian Refer to the deposit contract and custodian
contract and custodian agreement agreement for details agreement for details
Highest 51.00
Jan. 1, 2021
to December Lowest 27.60
31, 2021
Market price Average 38.98
per unit (US$) Highest 49.00
Jan. 1, 2022
to Mar. 22, Lowest 40.80
2022
Average 45.88
(13) The information on employee share subscription warrants: N/A
(14) The information on issuance of new shares in connection with mergers or

acquisitions or with acquisitions of shares of other companies : N/A
92
(15) Financing plan and implementation
1. Issuance of corporate convertible bonds in December 2021：

(1) Project information: To meet our capital requirements in relation to the future development, including but
not limited to repayment of existing debt. On September 30, 2021, the Board of Directors of the Company
approved to issue the 1st domestic unsecured convertible bonds.
(2) Financing sources: The Company issued price 100.5% of par value (i.e., face value of NT$100,000 per bond.)
with a total amount of NT$6,300,000,000.
(3) Financing purpose: Repaying bank loans of the Company.
(4) The record date of fundraising: December 16, 2021.
(5) Funding progress: The Company repaid the bank loans in advance in the first quarter of 2022. The
achievement rate was 100.00% at March 31, 2022.
(6) Benefit analysis: The Company is expected to decrease interest payment of bank loan and strengthen the
financial structure.
2. The public offering or private placement of securities has not been finished. Either the offerings or placements
have been completed in the last three years but the anticipated benefits have not yet been achieved: None.
3. The progress of project implementation or the one which has not achieved its anticipated benefits: None.
93
Wholehearted service
Being active on the
Asian financial stage
V. Operational Highlights
(1) Business Overview

1. Business Scope
(1) Core Business
In addition to traditional leasing, installment sales and factoring services, the Company successfully developed
new financial products to cope with SMEs’ funding needs for their diverse business development, including
heavy vehicle and automobile financing, construction equipment financing, fishery inventory financing, micro-
enterprises financing, real estate financing, office equipment leasing, medical equipment financing, car rentals,
ESCO financing and services, solar power plant financing, investment, EPC and O&M, inventory financing
(including cross-border), aircraft and ship financing, gasoline wholesale business, and insurance brokerage. The
Company aims to provide professional and a full range of financial solutions to SMEs, achieving the enterprise
mission of “Becoming A Supporting Partner of Our Customers; A Driving Force of Economic Success.”
(2) Proportion of Business
Unit: NT$ (thousand)
Year FY2021 FY2020

Item Amount Percentage Amount Percentage
Sales revenue 5,132,662 7.1% 4,210,818 7.1%
Interest revenue - installment sales 13,648,813 18.9% 10,880,685 18.3%
Interest revenue - capital leases 24,544,166 34.0% 20,718,562 34.8%
Rental revenue - operating leases 4,585,134 6.4% 3,820,500 6.4%
Interest revenue - loans 6,109,708 8.5% 5,065,606 8.5%
Other interest revenue 8,689,291 12.0% 6,270,379 10.6%
Other operating revenue 9,449,780 13.1% 8,511,209 14.3%
Total operating revenue 72,159,554 100.0% 59,477,759 100.0%
96
(3) Current products /services
A. Leasing
The purpose of the leasing service is to support SMEs to acquire the right to use equipment through leasing
and thus relieve their burden of purchasing equipment with equity funds, satisfying their needs of operating

growth and improving the financial structure.
The leasing can be divided into capital leases and operating leases. Generally, any fixed depreciable assets,
including domestically purchased or imported, can be the subject matter of leases, including but not limited
to machinery, medical equipment, airplanes, boats and office equipment.
B. Installment Sales
The purpose of the installment sales business is to help SMEs’ strong working capital needs. The Company
purchases the goods or equipment needed on behalf of customers and then customers can purchase them
by installment, rather than lump sum payment to achieve the purpose of optimized funding allocation and
financial leverage.
The subject matter of “installment sales” includes raw materials, semi-finished and finished products,
furniture and fixtures, and production equipment. We deliver the customized services of installment sales
to customers across various sectors & industries with flexibility and speed based on the characteristics and
needs of each industry.
C. Factoring
The factoring business is a type of debtor finance in which a supplier of goods (seller) assigns its receivables
arising from “sales and purchase agreement” to a factor (the Company), who performs the function of
financing, account management, collection of receivables and protection against defaults in payment. The
purpose of factoring is to assist SMEs to convert long-term receivables into cash to meet their present and
immediate funding needs.
D. Loans
We provide direct financing services to SMEs, micro-enterprises and large corporations.
E. Others
Other services include life and property insurance brokerage, financing and investments of solar power
plant, collection of overdue receivables, and gasoline wholesale business.
(4) New products /services planned for development
A.Accelerate the expansion of e-commerce market, continuously expand the application of “zero-card
installments” by increasing customer base, developing and collaborating with e-commerce operators and
brand vendors, establish consumption contexts and enter low-priced yet high-frequency consumption
markets, and promote transaction cycles through traffic diversion and shopping guides.
B.Actively build a system of insurance agency business in the Asia-Pacific region from cross-selling to direct
sales, broaden from property insurance to life insurance, to establish a capital-light and asset-light revenue
source.
C.Establish a special organization for vessel operating lease, expand the business scale and improve the
disposal capacity of ship assets; meanwhile, extend the ship financing business to bareboat leasing, and
develop new businesses of TC and VC for bulk carriers .
D.Cooperate with global equipment suppliers and continue to develop overseas equipment financing markets.
2. Industry overview
(1) Current status and development of the industry
A. The development history of leasing industry
Financial leasing emerged in the 1950s from the USA, officially providing customers with a financial channel
besides banks to obtain production funds. This new type of economic activity expanded to Germany and
Japan and thrived in the 1960s. In the early 1970s, the business started to develop in Taiwan, followed by
China in 1980s.
The leasing industry is a part of financial auxiliary industry which aims to complement the deficiency of
capital markets and banks. The capital markets and banks primarily obtain funds from the investments and
deposits of the general public; therefore, the financing risk is limited in order to pursue the financial and
economic stability. As a result, the enterprises which can obtain funds from the capital markets and banks
tend to be large-sized and have financial integrity. In terms of Taiwan and China, where SMEs constitute the
97
backbone of the economy (i.e. SMEs account for over 97% of total enterprises), most SMEs have a relatively
short history and weaker guarantee ability, and they are smaller in size; consequently, they cannot enter
the capital market and have difficulties in obtaining bank loans. The SMEs financing obtained from Taiwan
and China banking institutions accounts for a small portion of total financing. Since the current service
cannot satisfy SMEs and the financial auxiliary companies operate using their own funds which is less legally
restricted, they can bear higher risks to provide SMEs with flexible financing to complement the deficiency
of the capital markets and banks. That is the main reason why the financial auxiliary industry developed
vigorously in the US, Europe and Japan, and has played a critical role in their financial system.
B. The market scale of global leasing industries
According to the World Leasing Yearbook 2022, the global leasing industry grew by 125% on average from
2010 to 2020. Due to the impact of the Covid-19 pandemic, however, the demand for equipment leasing
decreased in 2020. The global leasing volume reached US$1,338.2 billion in 2020, representing a 1.8%
decline compared to 2019. North America was tremendously impacted by the pandemic which caused
a reduction of new leasing volume by 6.7%. On the contrary, business in Asia grew rapidly by 13% where
China, Taiwan, and Korea markets grew at 11% to 12% despite the influence of the pandemic.
Trend of global leasing volume

Global Leasing Volume (US$bn) Annual growth rate
9.4% 16.6%
0.3% 5.9% -1.8%
1,099.8 1,282.7 1,287.0 1,362.4 1,338.2
2016 2017 2018 2019 2020
In 2020, most of the top 10 countries in terms of leasing volume were developed countries with mature
capital markets and well-established financial systems. This indicates that the leasing business can provide
complementary financial services and further promote SMEs’ strong growth.
Top 10 countries by leasing volume in 2020
Ranking Country Annual volume (US$bn) YoY Growth % Market penetration %
1 US 440.4 -7.00% 22.0%
2 China 300.2 11.94% 9.4%
3 UK 83.4 -19.65% 28.4%
4 Germany 79.8 N/A 16.2%
5 Japan 66.5 -14.20% 5.1%
6 France 57.0 -9.72% 17.5%
7 Italy 29.5 -18.04% 13.4%
8 Canada 28.5 -6.80% 42.0%
9 Australia 26.4 -11.76% N/A
10 Russia 21.0 -10.53% N/A
13 Taiwan 18.4 11.13% 11.0%
98
In 2020, the leasing volume of North America, Europe and Asia were US$475.4 billion, US$414.4 billion and
US$402.1 billion, representing 35.5%, 31% and 30% of the global volume respectively. China contributed
volume of US$300.2 billion, accounting for 74.7% of the total volume in Asia and taking the second position
in the global ranking. The leasing volume in Taiwan reached US$18.4 billion, accounting for 4.5% in Asia and

making it the 13rd position in terms of global leasing volume.
Leasing volume by region in 2020

Ranking Region Annual volume (US$bn) YoY Growth % Percentage
1 N. America 475.4 -6.7% 35.5%
2 Europe 414.4 -7.5% 31.0%
3 Asia 402.1 13.0% 30.0%
4 Aus/NZ 26.4 -3.4% 2.0%
5 S. America 15.3 10.5% 1.1%
6 Africa 4.5 -39.9% 0.3%
Total 1,338.2 -1.8% 100.0%
C.The market scale of leasing in Taiwan

According to the information provided by the Taipei Leasing Association (“TLA”), the total leasing and
installment sales contracts by members of TLA in 2021 was NT$638 billion, representing a 23.3% growth
compared to 2020. Leasing and installment sales are two major products offered by leasing companies in
Taiwan, which accounted for 14.4% and 85.6% of the total contract value in 2021 respectively.
Vehicle/transportation equipment and raw materials were major subject matters for the leasing and
installment sales business, accounting for 51.6% and 15.9% of the contract amounts respectively. SMEs with
share capital less than NT$20 million were the major customers (63.3%) and most of those are engaged in
transportation and warehousing, manufacturing, wholesale and retail industries.
D.The market scale of leasing in China
According to the World Leasing Yearbook 2022, the total leasing contract volume in 2020 was approximately
CNY$1,960 billion, representing a growth of 12% compared to CNY$1,751 billion in 2019.
(2) The interrelationships between the upstream, midstream and downstream segments of the industry supply
chain
Leasing is an assets-based financing. Lessors purchase the equipment from vendors and then grant the lessee
the right to use equipment via leasing agreement. Lessee can pay the rental by installment, instead of lump
sum payment, during the lease term. Generally, the upstream, midstream and downstream segments of the
leasing industry can be illustrated in the following chart:
Upstream Midstream Downstream

Cash Flow
Capital Provider Logistics Flow
Shareholders Capital Demander

Providing capital
Financial Institutions
Lessors Lessees
(e.g.Banks) Rental payment
+buy back (when expired)
【leasing agreement】
Capital Markets
Payment for purchase
Equipment Provider 【sales and purchase
agreement】
Vendors Delivery of equipment+after-sales services
99
A. Upstream players: capital and equipment providers
Apart from the equity fund of shareholders, the capital source of the lessors mostly comes from bank loans
or issuances of commercial papers and corporate bonds. A large-sized company with a healthy financial
structure has its assets securitized or plans to go public in order to directly raise funds in the capital market.
Overall, the leasing industry mainly obtains funds from financial institutions. Equipment vendors are the
other players, from whom the lessors purchase the designated equipment on behalf of the lessees and rent
such equipment to the lessees for their business operation.
B. Midstream players: lessors
The leasing company provides assets-based financing services, and can be categorized by the structure of
shareholders or managers. More details can be referred to the section of competition in this chapter.
C .Downstream players: capital demander (lessees)
The leasing company provides assets-based financing services to capital demanders, e.g. individuals,
micro- enterprises, SMEs and even large corporations, meaning that customers of leasing companies and
financial institutions somewhat overlap. However, the leasing company specializes in different markets and
mainly serves SMEs in a flexible way to provide customers underserved by banks with key capital in a timely
manner and assist them in operational growth. Therefore, the relationship between the leasing companies
and financial institutions is a kind of “coopetition” - competitive and cooperative in terms of the industrial
structure.
(3) Development trend of products
In the early stages of development, the Taiwan leasing industry was relatively restricted and only provided
the machinery and equipment for production, transportation, utilities, sanitation, education and public
administration sectors. As the economy developed and regulations changed, diverse new products have been
offered to solve the capital shortage of SMEs, including the installment sales of raw materials, semi-finished,
finished products and inventories, chattel secured transactions of automobiles and construction machinery
and equipment, factoring, and leases of aircrafts, boats and automobiles.
Future prospects: Taiwan currently promotes the legislation on finance companies to transform the leasing
company which provides leasing services and installment sales to a finance company which is allowed to
offer guarantees business in addition to offering loans, discounted notes, notes and valuable securities. The
finance company act will be helpful in promoting the diversification of the financing business and providing
enterprises and the public with an alternative source to obtain funds.
(4) Competition
A.The competition in Taiwan
According to the information provided by the Taipei Leasing Association (“TLA”), as of December, 2021,
there were 39 members in TLA, which can be divided into four different categories in terms of the structure
of shareholders or managers:
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Category (No. of
Characteristics of business
members)
Sufficient funding source supported by the parent company. Heavily rely on the customer list for marketing
provided by the banking parent companies and often focus on large-scale equipment leasing.

Members:
Bank affiliate (15) FCB Leasing Co., Ltd., Hua Nan International Leasing Co., Ltd., SinoPac Leasing Corp., CDC Finance & Leasing Corp.,
IBT Leasing Co., Ltd., Waterland Financial Holding Co., Ltd., Taichung Bank Leasing Co., Ltd., Sunny International
Leasing Co., Ltd., Taiwan Business International Leasing Co., Ltd., CTBC Finance Co., Ltd., Panhsin International
Leasing Co., Ltd., Co-operative Asset Management Corp., Taishin Dah An Leasing Co., Ltd., Union Finance &
Leasing (Int'l) Corp., and Far Eastern International Leasing Corp.
Mainly established by automobile manufacturers. Provides financing services via the expertise of leasing assets,
but the customer base is also constrained.
Captive finance
company Members:
(8) Taiwan Acceptance Corporation, Hotai Finance Corporation, CMI Credit Ltd., Shinshin Credit Corporation,
Mercedes-Benz Financial Services Taiwan Ltd., Fortune HS Leasing Co., Ltd., Hsieh-Shin Motors Co., Ltd., and He
Jing Co., Ltd.
Foreign finance Mainly established by foreign equipment vendors or leasing companies to develop the Taiwan market.
company Members:
(4) ORIX Taiwan Corporation, President Tokyo Corporation, Scania Credit Taiwan Ltd. and MHC Capital (TWN) Ltd.
Independent business operation. Provide diverse and customized products with flexibility and efficiency.
Enterprise group Members:
subsidiaries Chailease Finance Co., Ltd., Robina Finance & Leasing Corporation, Fina Finance and Trading Co., Ltd., Far Trust
(12) International Financial Co., Ltd., Cosmos Leasing Corporation, Jih Sun International Leasing & Finance Co., Ltd., Yu
Rich Financial Services Co., Ltd., Chang Hong Co., Ltd., YIHO International Co., Ltd., Fuyo General Lease (Taiwan)
Co., Ltd., Chailease Consumer Finance Co., Ltd., and Konew Capital Limited
Source: Taipei Leasing Association.
In terms of the capital structure of TLA members, the capital of each member is shown as follows:
Unit :NT$
Number of
Paid-in capital Member list
members
Chailease Finance Co., Ltd., Waterland Financial Holding Co., Ltd., Fina Finance and Trading Co., Ltd.,
Over 5 billion 4
and Hotai Finance Corporation
Far Eastern International Leasing Corp., SinoPac Leasing Corp., Taiwan Acceptance Corporation, FCB
Leasing Co., Ltd., IBT Leasing Co., Ltd., Co-operative Asset Management Corp., Fortune HS Leasing Co.,
2~5 billion 10
Ltd., Taichung Bank Leasing Co., Ltd.,Shinshin Credit Corporation, and Chailease Consumer Finance
Co., Ltd.
Jih Sun International Leasing & Finance Co., Ltd., Hua Nan International Leasing Co., Ltd., Taiwan
Business International Leasing Co., Ltd., Sunny International Leasing Co., Ltd., Union Finance & Leasing
1~2 billion 9
(Int'l) Corp., Taishin Dah An Leasing Co., Ltd., Yu Rich Financial Services Co., Ltd., CTBC Finance Co., Ltd.,
and Hsieh-Shin Motors Co., Ltd.
CDC Finance & Leasing Corp., President Tokyo Corporation, Mercedes- Benz Financial Services
Taiwan Ltd., Robina Finance & Leasing Corporation, Far Trust International Financial Co., Ltd., YIHO
0.5~1 billion 9
International Co., Ltd., Panhsin International Leasing Co., Ltd., He Jing Co., Ltd., and Fuyo General Lease
(Taiwan) Co., Ltd.
Less than 0.5 CMI Credit Ltd., ORIX Taiwan Corporation, Cosmos Leasing Corporation, Scania Credit Taiwan Ltd.,
7
billion Chang Hong Co., Ltd., Konew Capital Limited, and MHC Capital (TWN) Ltd.
Source: Department of Commerce, MOEA and Taipei Leasing Association
In summary, the members of TLA are large-sized companies in Taiwan. Chailease Finance Co., Ltd., the
subsidiary of the Company, delivered the new contract amount of NT$315.6 billion in 2021 and has been
maintaining the leading position in Taiwan’s lease and installment sales industry.
B.The competition in China
According to the China Financial Leasing Industry Development Report-2021, the total number of various
types of financial leasing companies in China was 11,917 at the end of 2021, marked a decrease of 1.97%
compared to 2020. Among these financial leasing companies, the numbers of lessors as NBFIs, domestic
pilot lessors and foreign invested lessors were 72, 428 and 11,417 respectively.
The total contract balance of all lessors in 2021 was approximately CNY$6,210 billion, representing 4.5%
drop compared to CNY$6,504 billion in 2020.
The total contract balance of Chailease International Finance Corporation, the subsidiary of the Company in
China, amounted to CNY$45.9 billion in 2021, representing 0.7% of total contract balance of the NBFIs, and
non-NBFIs. It also represented an increase compared to 2020 which is 0.6%.
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The statistics of lessors in China under different administrations in 2021
Category Number of lessors Percentage
Lessors as NBFIs 72 1.41%
Domestic 428 3.38%
Lessors as Non-NBFIs
Foreign 11,417 -2.18%
Total in aggregate 11,917 -1.97%
Source: Statistics on the development of national financial leasing enterprises in 2021
According to KPMG released “China Financial Leasing Industry Development Report 2021”, there are 82
lessors with public financial information is stated in the table below. Around 63% of lessors are registered
in Shanghai and Tianjin, of which Shanghai accounted 31%. Chailease International Finance Corporation,
the subsidiary of the Company in China, is located in Changning District, Shanghai, where is a highly
competitive market for financial leasing business.
2021 Total Assets of Top 82 Lessors in China

Total Assets Number of lessors
Over 100 billion 16
30~100 billion 34
14~30 billion 32
Source: KPMG“China Financial Leasing Industry Development Report 2021”
Chailease International Finance Corporation is ranked as top 50 of financial leasing companies.

3. Research and development
(1) R&D expenditures during the most recent fiscal year or up to the date of printing the annual report Planning
department in the Company is responsible for new products /or market planning and development through
support and collaboration with relevant departments if required, to provide total solution to clients. The
Company’s R&D expenditure was NT 230 million in 2021 and is expected to reach NT 250 million in 2022.
(2) Technique or products successfully developed during the most recent fiscal year or up to the date of printing
the annual report
A. Vessel operating lease: the Company focuses on operating lease in the vessel niche market to expand the
portfolio.
B. ESCO and PV-ESCO business: in addition to ESCO financing and financial services provided to solar
power manufacturers, the Company has also engaged in the investment, EPC and O&M of solar power
plant business, a technically advanced new product, and ranked as number one in terms of solar power
plants owned in Taiwan. Besides, the Company launches “Chailease Citizen Power Plant”, a solar power
crowdfunding platform which allows individuals to invest in solar power plants online, reaching the goal of
promoting renewable energy and sharing profits of electricity generated with the public.
C. Aircraft financing: the Company collaborates with Bombardier, the leader in Canada’s navigation industry,
and Airbus Helicopter, the helicopter manufacturing division of Airbus, to facilitate the trading and
financing activities of corporate and private jet markets in Asia Pacific. The Company has entered into a new
joint venture with ELFC (a group company of the Mitsubishi UFJ Lease & Finance Company Limited group
(“MUL”)), providing spare engine support packages under operating lease to penetrate the engine leasing
business in Asia.
D. Zero-card installment: the original development of zero-card installment (no credit cards, no stored values,
non-binding bank accounts, no annual fees and no loan) is committed to create consumption experiences
with zero time difference, zero distance, and zero obstacles. No matter it is large installment or small
payment, it provides smooth transaction and unique “owning experience” for consumers.
E. HeyTruck: the business model is to build the relationship with truck fleets and truckers by providing a
matching platform for truck fleets, truckers and SME consignors. Through such platform, we aim to enter the
ecosystem of truck fleets and truckers and obtain potential extended business opportunities of financing,
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gasoline, fleet management and vehicle related products.
F. Chailease Check Express: the Company provides SMEs an online factoring platform to solve their problem of
short-term financing without limitation of time and space.
G. Chailease Mobile Life: starting from the eco-system of a car’s life cycle, this mobile app provides a one-stop

service platform for vehicle users, including car buying and selling, car financing, installments payment, auto
parts stores, gas stations, parking lots, and short-term rent, allowing users to have a better life experience.
H. Scooter Loan: the Company develops the only motorbike financing online platform in Taiwan and has
expanded the service to cell phone in 2020.
I. Research and development on patents: the Company has been devoted in the credit risk management
and successfully developed credit risk assessment model and techniques based on the credit information
of SMEs accumulated over 40 years in Taiwan. Accordingly, we have obtained 2 business method patents
related to credit risk assessment from Intellectual Property Office in the past few years. Besides, the
Company has been promoting the innovation of new financial products and digital financial services by
exploiting the leading-edge technologies, and has obtained 4 financial product patents, including “Loan
Management Method Implemented with Mobile Telecommunication System” which can be applied to
mobile-device related financial products.
4. Long-term and short-term business development plan
The Company has been devoted to the development of the SMEs credit business, established the risk assessment
mechanism for SMEs, avoided the price-oriented large corporations, established the professional, efficient and
flexible pricing differentiation strategy based on different risk coefficients of customers and chose SMEs which
have higher risks but are willing to pay higher risk premiums as the main niche market based on the reasonable
risk-taking ability. Therefore, our management strategy centers on the unique SMEs finance model as core
competitiveness, and focuses on the expansion of regional markets, the development of niche markets and
diversification of funding sources.
■ Regional market expansion: The Company originated from Taiwan and succeeded in providing SME’s financing
services, and later gradually expanded its footprints to the US, Thailand, China, Vietnam, Malaysia, Cambodia,
Philippines, and Indonesia, following the trend of overseas investments. We will continue to accelerate our
overseas market development, especially the ASEAN.
■ Development of niche markets: the Company gradually enlarged the customer base from SMEs to consumer
financing, truck and automobile financing, construction equipment financing, fishery inventory financing,
micro- enterprises financing, real estate finance, office equipment leasing, medical equipment financing,
car rentals, ESCO financing and services, solar power plant financing, investment, EPC and O&M, inventory
financing (including cross-border), aircraft and ship financing, gasoline wholesale business, and insurance
brokerage.
■ Diversification of funding sources: with respect to the capital strategy, we purely relied on bank loans initially;
however, the source of capital has become more in tune with the development of business, including asset
securitization, corporate bonds and fund-raising in the capital market.
Long-term and short-term business development plans of the Company are as follows:
(1) Short-term business development plans
A. Markets/ Products:
① continuously develop niche markets, flexibly grasp and quickly respond to market changes;
② extend product value chain and develop high value-added products and services;
③ accelerate the expansion of e-commerce markets, continuously expand the application of “zero-card
installments” by increasing customer base, developing and collaborating with e-commerce and brand
vendors, establish consumption contexts and enter low-priced yet high-frequency consumption markets,
and promote transaction cycles through traffic diversion and shopping guides;
④ speed up the application of digital technology, integrate and analyze customer database for accurate
marketing strategies and cross-selling to optimize business synergies, tap into potential markets and
discover new business opportunities through data science.
B. Channels:
① develop digital products and platforms to build up a digital ecosystem for integrated services;
② connect virtual and physical channels to increase customer acquisition rate;
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③ leverage the advantages of data assets, and cooperate with external platforms through strategic alliances
to quickly expand the markets.
C. Processes:
① deepen the application of digital technology and optimize operation efficiency;
② continuously build single-version and module system to enhance workflow within the organization and
boost our competitiveness in the market.
D. Risks:
① utilize big data analytics to fasten the credit evaluation process and create credit risk models in order to
build up diversified risk evaluation systems;
② integrate internal and external credit techniques to advance the capability of credit risk assessment for
local and overseas markets and products;
③ deepen the digitalization of credit review and related credit assessment capabilities to improve risk
identification and credit review efficiency.
E. Legal & Collection:
① utilize technology tools to accelerate collection efficiency and increase the recovery of write-off debts to
optimize asset quality;
② leverage legal expertise to build new business models and duplicate such in overseas markets;
③ introduce electronic contracts to cope with new economy after the covid-19 pandemic;
④ continuously implement legal compliance operations, strengthen external communication, promote ESG
and maintain as DJSI Sustainability Indices and the top 5% of corporate governance evaluation.
F. Finance:
① continuously develop diversified funding sources, establish reserve lines, strengthen capital structure and
enhance liquidity management;
② systematize accounting process to improve efficiency and enhance the analysis of accounting reports for
better references to operational decision-making;
③ integrate the internal and external technologies to improve the efficiency of disbursement and payment
reconciliation.
G. Human Resources:
① continuously expand diversified recruitment channels, utilize digital technology to meet local,
international and diversified manpower needs;
② continuously broaden recruitment of digital finance and cross-disciplinary talents to support the medium
and long-term manpower development strategies;
③ review and cultivate key talents by providing digital-based trainings for the organization’s medium and
long-term development plans;
④ continuously promote the operation of ASEAN matrix organizations to accompany the business
development of subsidiaries in the ASEAN region, based on internationalization strategies.
⑤ ensure workplace safety and protect health for employees against the pandemic.
(2) Long-term business development plans

A. Continue to cultivate domestic markets and expand overseas markets to pursue sales growth without
compromising asset quality, develop new products and markets, and aim to become an outstanding finance
company in Asia Pacific.
B. Continue market expansion to build our three main growth engines- Taiwan, China and ASEAN operations,
expand the networks based on the strategy of localization and deep cultivation, and enhance the exchange
of experience and business collaboration cross subsidiaries.
C. Accelerate the digital transformation toward three directions of “Digital Optimization”, “Data Science” and
“Digital Products and Platforms”, laying a solid foundation for future growth and profitability.
D. Actively build a system of insurance agency business in the Asia-Pacific region, from co-marketing to direct
sales, broaden products from property insurance to life insurance, to establish a capital-light and asset-light
revenue source.
E. Promote business model innovation, enhance the ecosystem services strategy, and extend the core
competence of SME financing to pursue the balanced development of corporate and consumer financing
businesses and become the best financial services company in Asia Pacific Region.
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F. Continue the medium and long-term development strategies of overseas markets, including establishing
new branch offices in China and ASEAN every year, implementing the strategy of market localization and
in-depth cultivation, and gradually develop online customer acquisition and expand consumer finance
business; continuously seek strategic partners for business collaboration in new markets, accelerate the

deployment pace through joint ventures or mergers and acquisitions; and last but not least, leverage
Taiwan’s experiences of digital transformation to develop single-version systems for overseas subsidiaries.
(2) Market and sales overview

1. Market analysis
(1) Services provided in each geographic area
Area Services Subsidiaries
Chailease Finance Co., Ltd.
Fina Finance & Trading Co., Ltd.
Chailease Consumer Finance Co., Ltd.
Chailease Specialty Finance Co., Ltd.
Finance lease Chailease Auto Rental Co., Ltd.
Operating lease Chailease Insurance Brokers Co., Ltd.
Installment sales Factoring Yun Tang Inc.
Direct lending Chailease Energy Integration Co., Ltd.
Life and property insurance broker Chailease Power Technology Co., Ltd.
Taiwan
Overdue receivables management Chuang Ju Limited Partnership
ESCO Energy saving services Sing Chuang Limited Partnership
Engineering, procurement, construction, operations Ho Lien Energy Integration Co., Ltd.
and maintenance on solar power plants Chung Ho Energy Integration Co., Ltd.
Vessel investment Jung Yu Energy Integration Co., Ltd.
Chailease International Financial Services Co., Ltd.
Chailease International Financial Services (Liberia) Corp.
Chailease International Financial Services (Labuan) Co., Ltd.
Chailease International Fortune Corp (Liberia)
Finance lease
Operating lease Chailease International Finance Corporation
China Importing and exporting Chailease International Corp.
Factoring leasing of self-owned buildings Chailease Finance International Corp.
Insurance broker
Installment sales of vehicles
Asia Sermkij Leasing Public Company Limited
Finance lease
Thailand Bangkok Grand Pacific Lease Public Company Limited
Factoring
SK Insurance Broker Co., Ltd.
Non-life insurance broker
Finance lease
Chailease International Leasing Company Limited
Vietnam Importing and exporting
Chailease International Trading Company Limited
Insurance agent
Chailease Berjaya Credit Sdn. Bhd.
Hire purchase of vehicles
Malaysia Chailease Agency Sdn. Bhd.
Property insurance agency
Chailease Services Sdn. Bhd.
Finance lease Chailease Royal Leasing Plc.
Cambodia Direct lending Chailease Royal Finance Plc.
Insurance broker Chailease Royal Insurance Broker Plc.
Philippines Vehicle financing Chailease Berjaya Finance Corporation
Indonesia Vehicle financing PT Chailease Finance Indonesia
United States Commercial real estate finance Grand Pacific Financing Corporation
Aircraft engine leasing
United Kingdom Chailease International Company (UK) Limited
Market survey and consultancy services
Installment sales, overseas financing and financial
Singapore Chailease International Financial Services (Singapore) Pte. Ltd.
consulting
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(2) Sales /or services contribution in each geographic area
Unit: NT$ (thousand)
Year FY2021 FY2020
Revenue from external Revenue from external
Area Percentage Percentage
customers (Note 1) customers (Note 1)
Taiwan 36,351,671 50.4% 29,859,070 50.2%
China 27,548,958 38.2% 22,596,447 38.0%
ASEAN 7,861,671 10.9% 6,656,356 11.2%
Others (Note 2) 397,254 0.5% 365,886 0.6%
Total 72,159,554 100% 59,477,759 100%
Note 1: The information comes from the consolidated financial statements audited by the CPA.
Note 2:“Others”includes the subsidiaries in England and USA.
Note 3: Transactions between merged entities are eliminated.
(3) Market share

A.Market share in Taiwan
According to the statistics from TLA, the overall new contract amount of Chailease Finance Co., Ltd., the
Company’s subsidiary, reached NT$315.6 billion in 2021 and has been maintaining the leading position in
Taiwan lease and installment sales industry.
B.Market share in China
As China has a vast territory, the census report for market share is unavailable. According to China Financial
Leasing Industry Development Overview 2021, the total contract balance of lessors approached CNY$6,210
billion in 2021, representing 4.5% drop compared to the total contract balance of CNY$6,504 billion in
2020. The total contract balance of Chailease International Finance Corporation, the China subsidiary of the
Company, amounted to CNY$45.89 billion, representing 0.7% of total contract balance of the NBFIs and non-
NBFIs, which increased from 0.6% in 2020.
(4) Future outlook of supply and demand as well as growth potential
A.The expected economic growth in 2022 is 4.10% in Taiwan.
According to the Directorate-General of Budget, Accounting and Statistics, Executive Yuan, Taiwan
semiconductor manufacturers take lead to continually expand production and accelerate investment
in advanced processes, so as the considerable demands in 5G infrastructure development, automotive
electronics, high performance computing (HPC) and IOT. Therefore, all of the circumstances are expected to
drive the growth of Taiwan’s exports. The Taiwan Institute of Economic Research (TIER) and the Directorate-
General of Budget, Accounting and Statistics, Executive Yuan projected GDP growth rate of 4.10% and 4.42%
in 2022 respectively.
B.The gross fixed capital formation in Taiwan is estimated to increase by 3.25% in 2022.
Due to the impact of the pandemic, the transformation plan of various industries has been accelerated,
and the global economy has gradually recovered due to the increase in vaccine coverage. Coupled with the
trend of localized production, the growth rate of capital equipment imports has increased significantly. In
addition, the government has approved the “ Three Major Programs for Investing in Taiwan” “Continuing to
drive manufacturers to invest in Taiwan has also continued the growth momentum of private investment.
According to the estimation of TIER, the growth rate of Taiwan fixed capital formation is 3.25% in 2022, of
which the growth rate of private investment is projected at 2.75%.
C.The expected economic growth of emerging and developing Asia in 2022:
Asian Development Bank (ADB) estimated GDP growth rates of 7% and 5. 3% for both emerging and
developing Asia and China in 2022 respectively. Major Asian countries are expected to see less of the impact
from the pandemic, though global infections have risen and a rapidly spreading variant has emerged,
meanwhile foreseen a weaker recovery in China so they downward revisions to economic growth rates.
D.The penetration rates of leasing in China and Taiwan are comparatively low.
According to the statistics from World Leasing Yearbook 2022, the penetration rate of leasing (i.e. the leasing
as a proportion of all fixed investment in plant and equipment) in China and Taiwan are 9.4% and 11%,
comparatively lower than mature markets such as the United States and UK whose penetration rates are
22.0% and 28.4% respectively, implying that there is still huge growth potential in the Taiwan and China
leasing markets.
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(5) Competitive niche
The Company has been in the leading position in the Taiwan leasing industry and its success can be attributed
to the unique financing model for SMEs and core competitiveness to ensure the long-term high and stable

profits of the Company.
A.A leader in the Taiwan lease and installment sales business
With more than 40 years’ experiences in serving SMEs, the Company has accumulated a huge customer
database and built an interlaced network in the industry, taking a leading position in the SMEs finance
market in Taiwan. The statistics from TLA indicates that the Company’s subsidiary, Chailease Finance Co.,
Ltd. delivered the new contract amount of NT$ 315.6 billion in 2021 and has been maintaining the leading
position in Taiwan lease and installment sales industry.
B.Diverse product line and high value-added financing services
In comparison with other leasing companies, in addition to the traditional leasing, installments and factoring
services, the Company introduced new products in truck and automobile financing, construction equipment
financing, fishery inventory financing, micro-enterprises financing, real estate finance, office equipment
leasing, medical equipment financing, car rentals, ESCO financing and services, solar power plant financing,
investment, EPC and O&M, inventory financing (including cross-border), aircraft and ship financing,
gasoline wholesale business, and insurance brokerage in response to the diverse needs of SMEs’ corporate
development. To provide high value-added financing services, the Company can also customize the deal
structure and payment terms based on the clients’ operational plans and cash flows.
C.Advanced credit risk assessment model and outstanding credit risk management system
The Company has exerted great efforts to strengthen the core capability of risk management and
established the credit assessment operation for different products, risk models and credit decision-making
mechanism. We successfully developed the “Credit Risk Assessment Model” in 2003 to efficiently improve the
credit quality and control the risk costs.
D.The diversified client base in different industries can efficiently lower the risks of market change.
E. Outstanding financial risk management
The subsidiaries of the Company in Taiwan, Chailease Finance Co., Ltd., was awarded an international long-
term issuer default rating (IDR) of BBB by Fitch Ratings. Also, Chailease Finance Co., Ltd., Fina Finance and
Trading Co., Ltd. and Chailease Consumer Finance Co., Ltd. all obtained the national long- term credit rating
of A+ (twn). In addition, the subsidiary in Thailand, Asia Sermkij Leasing Public Company Limited, was
also granted the BBB+ rating from TRIS-a domestic credit rating company. With such credit ratings, those
subsidiaries would be able to issue unsecured corporate bonds. Accordingly, multiple sources of capital
would satisfy the needs of future business growth.
F. Highly efficient collection ability
The Company has devoted itself to developing the most appropriate collection model for each product and
continued to improve the professional ability and collection efficiency of legal personnel for better collection
performance.
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(6) Positive and negative factors for future development and responses to such factors
(A) Positive factors:

a. The clear sign of economic recovery and continuous growth of investments in equipment will be beneficial to the
continuing development of the whole business.
b. The financial service for domestic micro-enterprises is still insufficient and has huge room for business development.
c. Domestic consumer financing market continually grows (For example, the number of transactions of vehicles and
motorbike increased)
(B) Negative factors:
a. As banks and leasing companies aggressively enter the SMEs financing and consumer financing markets, the
competition becomes more severe.
Responsive strategy:
(a) Expand certain niche industries to ensure the growth of overall business volume and profits.
(b) Adopt the pricing differentiation strategy to increase competitiveness.
Taiwan
(c) Continue to research and develop new products and create new business models.
(d) Develop digital platform and ecosystem for products, build up deeper relationship with clients, and provide
diversified services and create market competitiveness other than pricing.
(e) Aggressively expand the consumer financing products and the salesforces.
b. The demand for talent cultivation and recruitment rises faster due to new product development and market expansion.
(a) Continue to promote the succession plan of critical positions and incubate high potential critical talents. (eg.
Chailease Talent Development Program)
(b) Continue to implement “MAGIC”- the big 4 programs for talent cultivation (eg. Management Associate Program
(MAP), Greater ASEAN Internship and Employment Program (GAIEP), International Talent Plan (ITP) and Chailease
Talent Development Program (CTDP)) in response to new market/region expansion.
(c) Recruit outstanding talents (eg. Chailease Program) at different levels to support the Company’s rapid development.
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(A) Positive factors:
a. The leasing market in China has great growth potential and Chinese government has burgeoning concerns toward the
development of SMEs.
b. The leasing industry is gradually regulated, paving the way to healthy development.

c. A steady growth of sound business operation and management.
d. A continuous expansion of new branches nationwide.
e. Ability to rapidly recruit and cultivate local talents.
(B) Negative factors:
a. There is an uncertainty derived from the adjustment of China’s economic structure and industry transformation.
(a) Establish a public affairs unit to strengthen interactions with government institutions and keep abreast of policies
and regulatory trends.
(b) Enhance industry control and review, and periodically adjust marketing direction.
(c) Industrial transformation is both a challenge and an opportunity for customers, where the Company could provide
the funds needed for their transformation.
b. The governance of leasing company is stricter, and higher requirements of leasing company’s internal control and
eligibility of leased asset are placed under the new regulations.
(a) Understand national policies to avoid business risk, and comply with the requirements set by the new regulatory
authority of leasing company, China Banking Regulatory Commission (CBRC).
(b) Establish a complete operation compliance system and execution performance review in compliance with laws and
regulations.
(c) Maintain a certain portion of leases with new subjects and improve the subject classification management.
China
c. Competition in SMEs financing market has become more intensive while clients are more price sensitive.
(a) Focus on short-distance marketing, cultivate deeply in local privilege industries, increase salesforce’s professionals,
and enhance client’s trust in Chailease.
(b) Promote business through marketing and maintain close customer relationship with the help of after-sales service
platform and other digital tools.
(c) Manage the pricing with flexibility by providing differentiated quotation in consideration of client’s business scale,
credit rating, and collateral status.
(d) Give full play to the advantages of multiple products, leasing, trade, factoring product portfolio, and provide
customers with complete chain financing services.
d. Due to the limitation of equity funds, the main funding source for business development is still provided by banks.
(a) Maintain the strategy of medium and long-term funding as the major to provide the capital for stable business
development, and collaborate with strategic alliance banks to achieve a “win-win” synergy.
(b) Leverage foreign-debt quota to deploy the offshore funding at an appropriate level for lower funding cost and
reduce the risk of domestic capital shortage.
e. Quick response to talent recruitment and cultivation to support the Company’s rapid market development.
(a) Build up unique corporate culture and competitive reward policy to attract local outstanding employees.
(b) Establish good relationship with local universities, provide scholarship/internship opportunities, business site visits,
and strategic partnerships with campus for securing talent source.
(c) Design structured and professional training programs for talents and provide diversified development
opportunities.
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2.Usage and manufacturing process of main products
(1) Usage of main products
The Company provides asset-based financing services to SMEs, offering critical financial support for their
business development.
(2) Manufacturing process of main products
Business promotion Contract signing
Loan application Loan document

acceptance ．Credit review
verification Capital
Equity capital
．Make site visit
．Reference checking
Credit evaluation from buyers, suppliers Loan disbursement Financial institutions
．Prepare credit report
．Credit scoring and rating
Loan approval Money and capital

Customer markets
management
3. Supply situation of major raw materials

There are no major raw materials as the Company engages in the non-production business.
4. Major suppliers and clients
A.Suppliers accounting for at least 10% of annual order volume in the 2 most recent fiscal years: Not applicable as
the Company doesn’t engage in the production business.
B.Clients accounting for at least 10% of annual total revenues in the last two fiscal years: None.
5. Production volume for the most recent two fiscal years: Not applicable.
6. Volume of units sold for the most recent two fiscal years: Not applicable.
(3) Head count, average seniority, average age and educational background
of employees in the recent two years and as of the publication date of the
annual report
March 22, 2022
Year 2020 2021 On March 22,2022
Management personnel 1,052 1,116 1,224
Number of employees Non-Management personnel 6,027 6,671 6,902
Total 7,079 7,787 8,126
Average age 32.5 32.2 32.2
Average senority 5.0 4.8 4.8
PhD 0.03% 0.03% 0.02%
Master's degree 13.46% 12.37% 12.13%
Educational background Bachelor's degree 81.55% 82.57% 81.63%
High school graduate 4.35% 4.67% 5.75%
Below high school 0.61% 0.36% 0.47%
Note : The information for the current year before the publishing date of the annual report should be filled in. Management personnel: Title manager (or above) Non-
Management personnel: Others staff.
110
(4) Information on environmental protection expenditures:
Since 2015, Neihu Headquarters has successively promoted energy saving and promoted green commodity
procurement. In 2015-2018, it has invested NT$11.78 million, which has resulted in significant energy saving and

waste reduction benefits. In 2019 and 2020, the company have invested in the improvement of the environment,
with an investment amount of NT$865,108 and NT$483,004. In 2021, the company continued to invest in the
environment protection, with an investment amount of NT$754,496.
The amount of the company invested in the improvement of the environment. (Unit: NTD)
865,108
754,496
483,004
2021 2020 2019
(5) Labour Relations

1. List the company's employee welfare, training and retirement system and its implementation status, as well as the
agreement between labor and management and the maintenance measures of various employee rights.
Human capital is the most treasured asset of the company, we committed to provide the working environment
with "work and life balance"; In this regard, the company design excellent welfare system with employee training
and development completely to make every employee to explore their strengths and potential.
(1) Welfare measure: the company's warfare measures handled in accordance with the relevant laws and
regulations of the location of each subsidiaries. The following welfares are the sum of all welfare projects in
various places, and handled according to local laws and regulations, inter-bank practices and customs.
1. Special leave and family travel leave are better than labor law
2. Group insurance, accident insurance.
3. Subsides of marriage and funeral, childbearing, and child education.
4. Subsidy of EMBA program
5. Subsidy of Foreign language training.
6. Regular health examination, medical subsidies for illness.
7. Nursing room for female employees, children's temporary care space.
8. Library.
9. Employee stock ownership.
10. Employee travel.
11. Annual and spring parties.
12. Birthday gifts.
13. Multi-community activities.
14. Movie appreciation.
15. Masseur service.
111
(2) Training:
Training result of the company in 2021：
Number of Total Average Training Average Cost Per

Course Total Hours Total Cost (NTD)
Sessions Attendees Hour Per Person Person (NTD)
Job Expertise 350 12,586 70,384

Organizational Management 24 503 2,541
Compliance 15 5,581 4,194
Digital Information 8 255 3,118 58.2 88,361,817 11,347
Dual Skills High Competency 18 3,392 292,403
Regional Development Model 4,216 68,058 80,301
Others 3 38 186
Employee training and development tenet: To realize the ideal of the company and employees to grow
together, through the multi-dimensional strategic development plan, provide employees with omnidirectional
competency development, and achieve the win-win goal of nurturing talents, retaining talents and organizing
common prosperity.
① Focus on Human capital's cultivation and development
The company spares no effort in talent investment, is willing to provide the best talent developing
environment and learning resources, and also because of the commitment and support of senior
management for education and training, laying a solid foundation for the talent cultivation system, so that
the company's training system has been well-known in the industry.
② Integrated training environment
The company's training system includes face-to-face courses (classroom training), e-Learning courses, and
mentoring system. It constitutes an integrated training environment, and colleagues can enjoy a diverse
learning method.
③ Complete training framework of competence
The company's training courses can be divided into three categories: core competence (training all
colleagues), management competence (training management position), professional competence (training
the different position of colleagues), to help colleagues with different positions and titles can receive full-
function training.
④ Job rotation
Emphasizing and implementing the job rotation between positions, since job rotation is usually the best
training, many of the supervisors of the company have multiple functions such as business promotion, risk
management, and personal staff planning.
⑤ Internal lecturer and mentoring
The company has been the leader in the domestic leasing industry. Over the years, it has been the cradle
of top domestic enterprise personnel and the leader in cultivating countless risk management. The most
important thing is to rely on the company's strong internal lecturers and thoroughly implement the
mentoring system. These two methodologies play the leading role in the inheritance of knowledge and
experience.
⑥ Rich and diverse online learning
Online learning has become one of the indispensable training pathway for in-house training. Since
the establishment of the "Chailease e-training", the company has been committed to constructing and
introducing a variety of online courses, through blended learning to achieve the learning result.
⑦ Structured OJT training mode
More than 80% of the staff's ability achieved through OJT (On-the-job-training). In view of the uniqueness
of different products and different regions, the company has established a good localized OJT learning
mechanism, emphasizing the flexible of learning and resource sharing, from Off-JT to OJT, keep employees
learning uninterrupted.
⑧ Knowledge management sharing mechanism
The company has a multi-learning pathway and spares no effort in the preservation and sharing of unique
112
knowledge. In addition to accumulating more than 30 years of knowledge documents, the company
regularly invites colleagues to share valuable work experience and achieve the best results in knowledge
management.
(3) Retirement system and implementation status: The Company's retirement system handled in accordance with

the relevant laws and regulations of each subsidiary's location.
① Companies in the territory of the Republic of China all have measures for employee retirement management
in accordance with the Labor Law, and provide monthly retirement allowances to the Supervisory
Committee of Workers' Retirement Preparation Fund, as of July 1, 2005. Implementation of the Labour
Pensions Ordinance, see below:
A: Applicants who started after July 1, 2005 (inclusive) will fully apply the Labor Pensions Ordinance
B: On July 1, 2005 (excluding), the employee may choose the pension system with the Labor Pensions
Ordinance or the Labor Law within five years from July 1, 2005. If the employee has not yet selected
during the term, the pension provisions of the Labor Law will continue to apply from the date of
implementation.
C: Staffs may be retired if he or she has one of the following circumstances:
(A) person who has served for more than 15 years (inclusive) and has reached the age of 55.
(B)Those who have served for 25 years or more.
(C)Those who have served for more than 10 years (inclusive) and have reached the age of 60.
D.Pension criteria:
(A)Employees who started before March 1, 1998 (excluding March 1st), each year of work is given two
bases, more than fifteen years of work, and one additional base is added, the highest Take the sixty-
one base as the upper limit.
(B) Employees who started after March 1, 1998 (including March 1st), have two bases for each year of
work, more than 15 years of work, and a base for each full year, except In addition to notification of
forced retirees due to public injury, the maximum total is limited to 45 bases.
② Companies in China: the company pays endowment insurance for employees in accordance with the local
regulations.
A.According to the local social insurance procedure, the endowment insurance is included in social
insurance (including medical care, maternity, pension, work injury, unemployment). After the company
handles the social insurance increase procedures for employees, it has begun to fulfill the obligation to
pay pension insurance.
B. If the staffs reach the statutory retirement age and the accumulated payment period is reaching 15 years,
they will have the basic pension insurance treatment. The basic pension insurance treatment are as
follows:
(A) Work from January 1, 1993: Basic Pension + Personal Account Pension, Description:
a. Basic pension: the average monthly salary of the employees in the city in the previous year at the
time of personal retirement × individual payment period×1%.
b. Personal pension: The amount of personal deposits at retirement / the retirement age of the person
corresponding to the number of months.
2. In the past two years and as of the date of publication of the prospectus, the company suffered losses due to labor
disputes: as of the date of publication, no relevant circumstances occurred.
113
(6) Cyber Security Management
1. The Company will adjust the cyber security maintenance content as appropriate in accordance with legal and
technological changes to prevent unauthorized access, use, control, disclosure, damage, alteration, destruction,
or other forms of infringement relevant to information and communication system or information so as to ensure
confidentiality, integrity, and availability.
(1) Structure of Cyber Security Management
In order to effectively promote information security, the Company has established an "Information Security
Committee" in October 2019 in accordance with the "Information Security Policy” of the Company, to formulate
and review the information security policy and development strategy of the company, and to take charge of
the promotion and governance of the Company's information security, information security risk supervision
and management, as well as the reporting of major information security incidents. The committee will meet at
least once a year and is authorized to convene additional meetings, as circumstances require. Major resolutions
will be reported to the board of directors.
Structure of Information Security Management Committee
Board of Directors
Chairman of the
Board (President)
Supervision
Committee
Chairman of
Committee:
President
Executive
Secretary:
CTO
Committee Members:
Sales, Audit, Customer Service,
Chief Legal Officer, Chief of Staff
Executive Team
(2) Information Security Policy

The Company refers to international standards such as ISO 27001 and BS7799 in establishing the information
security policy according to its actual management needs. This policy is used to enhance information security
management, as well as create a secure and reliable information operating environment, which ensures the
security of data, systems, equipment, and networks.
In order to maintain the company's competitive advantage, all employees are required to follow relevant
information protection policies implemented by the company. In addition to the information security control
measures for services provided by the information system, the Company also emphasizes the confidentiality,
integrity and availability of personal and transaction data protection, enhances information security
management to ensure the security of hardware and software information such as data, systems, equipment,
and networks, while deploying effective information security protection technologies as well as implementing
and promoting information security management practices to ensure the security of information.
To realize this policy, the Company has set up an information security committee and formulated relevant
information security regulations to ensure effective information security management operations.
114
All information units establish an inventory of relevant information assets, identify their respective owners, and
perform risk assessments according to the differences in information asset levels. To effectively reduce risks,
they should perform the risk management for the risks, properly delegate tasks, and clearly define authority
which are higher than the acceptable level, and continuously implement each control measures.

Recruitment of employees is subject to necessary assessment and signing of regulations pertaining to relevant
operations. New recruits and present employees are required to participate in information security education
and training to enhance awareness of information security protection.
Information units must take all necessary precautionary and protective measures to ensure that the
computer system can operate safely. For network security management, the Company adopts a defense in
depth information security approach to control the transmission and access of data on internal and external
networks. In terms of system access control management, the Company enhances its system access control
and management. It only grants necessary authority to each level of personnel to execute system procedures.
When duties of personnel are adjusted or transferred, their privileges are adjusted accordingly. System
privileges are cancelled immediately when an employee resigns and included in the employee termination
procedure requirements.
The Company conducts regular assessments and follows relevant internal and external regulations to reflect
the latest developments in government laws and regulations, technology, the Company's business, etc.
Appropriate protection measures are established in all information areas of the Company to ensure the
effectiveness of information security practices.
(3) Information Security Operating Procedure
The Company has organized an Information Security Incident Reporting and Response Team consisting of a
team leader who heads the information department (or an authorized agent) and team members from related
departments responsible for planning, execution and control of information security incident reporting and
response. In the event of an information security incident, it should be reported immediately and managed in
accordance with Information Security Incident Management Procedures (CFC-I-B-131).
115
Information Security Incident Flowchart
Identify the
information security
incident
Lv.3-4 Incidents Recovery or damage control Notify the

must be completed within Information Security Need to notify?
36 hours of reporting the Manager
incident. Yes
Keep a record Lv.1-2 Incidents Incidents
Recovery or damage control Notify the Incident Notify government

must be completed within Handler agencies
Notify the supervisor 72 hours of reporting the
and incident.
Promotion Subgroup
Yes No
Need to activate the Activate the emergency Does the agency
Notify the Incident Handler
emergency response plan? response plan concerned need support?
Effect of the incident
No Yes
No
Is the incident handling

Incident Handling Incident Handling
completed?
Yes
No No
Is the incident handling Is the incident handling Assist in handling

completed? completed? information security
incidents
Yes Yes
Fill out the operation log

or
issue management report Follow-up on the status of
the incident
Case closed
(4) Specific Management Plans for Information Security Management

All information security operations of the Company are coordinated, managed, and supervised by the
Information Security Committee, and exclusive information security personnel are assigned to handle
information security work. In addition to daily maintenance, the Company also conducts vulnerability scans,
social engineering exercises, protection system effectiveness checks, and other related information security
tests, as well as information security promotion and education training courses. The Company operates based
on an information security policy framework that provides a safe environment with secure information and
ensures the company’s information services; thus no insurance was purchased. In recent years, there has been
a frequent occurrence of information security attacks and increased risk of information security threats. Hence,
the Company actively set up a regional joint defense, increased its defense in depth, and provided training for
information security personnel to improve its information security defense framework, thereby ensuring the
Company’s continuous, safe, and risk-free operations.
2. There has been no loss due to significant information security incidents in the current year and up to the
publication date of the annual report.
116
(7) Important Contract
1. Chailease Holding Co., Ltd.：
Base Date: 2022.03.30

Contract beginning and Restrictive
Contract type Counterparty Major Content
ending date Covenants
Syndicated A group of banks led by Mega International From 2019/5/13 to 180 million Note 1
Loan Commercial Bank Co. Ltd., served as mandated lead 2022/5/13 USD Syndicated
Agreement arranger, with Bank of Taiwan Co., Ltd. and Sumitomo Loan
Mitsui Banking Corporation served as co-arrangers. Agreement
Chang Hwa Commercial Bank, Co., Ltd., Hua Nan
Commercial Bank Co., Ltd., Far Eastern International
Bank Co., Ltd., Yuanta Commercial Bank Co., Ltd.,
Taiwan Cooperative Bank Co., Ltd., Taiwan Business
Bank Co., Ltd., E.SUN Commercial Bank Co. Ltd.,
The Bank of East Asia Limited (Hong Kong), and
Metropolitan Bank & Trust Co. (Philippine) are
participants.
Note 1：
(1)Tangible assets shall not less than 25 billion NTD.
(2)The interest coverage ratio shall be no less than 1.1.
(3) Net worth (Net Tangible Asset/ Total Asset) no less than 11%.
(4) Fund from the loan agreement is forbidden to flow to the mainland China.
2. Chailease Finance Co., Ltd.

Base Date: 2022.03.30
Contract Contract beginning Restrictive
Counterparty Major Content
type and ending date Covenants
Syndicated Mega Bills Finance Co., Ltd.; China From 2018/02/06 to 3 billion NTD Syndicated Loan Agreement Note 1
Loan Bills Finance Co., Ltd.; DAH CHUNG 2021/02/11 (Three
Agreement Bills Finance Co., Ltd.; Taiwan years after the first
Finance Co., Ltd.; Mega International Drawdown)
Commercial Bank Co., Ltd.
Guarantee Chailease International Financial From 2018/02/22 to Chailease International Financial Services Note 2
Contract Services Co., Ltd. 2021/05/22 (Three Co., Ltd., a subsidiary of Chailease Holding
years after the first Co., Ltd., applied for a 120 million USD credit
Drawdown) loan for medium-term operational need. The
facility agent is Bank of Taiwan Co., Ltd., and
the joint guarantor is Chailease Finance Co.,
Ltd.
Syndicated Mega International Commercial Bank From 2018/10/19 to 4.8 billion NTD Syndicated Loan Agreement Note 3
Loan Co., Ltd. and nine other banks 2021/10/18 (Three
Agreement years after the first
Drawdown)
Syndicated International Bills Finance Co., Ltd.; From 2018/12/07 to 3.2 billion NTD Syndicated Loan Agreement Note 4
Loan Taiwan Finance Co., Ltd.; Yuanta 2021/12/11 (Three
Agreement Commercial Bank Co., Ltd.; Union years and three
Bank of Taiwan Co., Ltd.; Taiwan months after the
Cooperative Bills Finance Co., Ltd. Signup)
Syndicated Land Bank of Taiwan and nine other From 2018/12/26 3 billion NTD Syndicated Loan Agreement Note 5
Loan banks to 2027/6/28 (Eight
Drawdown)
Syndicated Mega Bills Finance Co., Ltd.; China From 2019/04/16 to 3.8 billion NTD Syndicated Loan Agreement Note 6
Loan Bills Finance Co., Ltd.; Mega 2022/04/19 (Three
Agreement International Commercial Bank Co., years after the first
Ltd.; Sunny Commercial Bank Co., Drawdown)
Ltd.; Taiwan Cooperative Bills Finance
Co., Ltd.
117
Syndicated Bank of Taiwan Co. Ltd and nine From 2019/04/29 to 6 billion NTD Syndicated Loan Agreement Note 7
Loan other banks 2022/06/25 (Three
Drawdown)
Trust Deed Mega International Commercial Bank From 2019/05/09 to Mega International Commercial Bank Co., None
Co., Ltd. 2026/05/09 Ltd. served as the Trustee for the creditors for
Chailease Finance Co., Ltd. to issue the 1st
Unsecured Corporate Bonds in 2019.
Guarantee Chailease International Financial From 2019/08/14 Chailease International Financial Services Note 8
Contract Services Co., Ltd. to 2024/11/01 (Five Co., Ltd., a subsidiary of Chailease Holding
years after the first Co., Ltd., applied for a 250 million USD credit
Drawdown) loan for medium-term operational need.
The facility agent is Mega International
Commercial Bank Co., Ltd., and the joint
guarantor is Chailease Finance Co., Ltd.
Syndicated Bank SinoPac Co., Ltd., Taishin From 2019/11/27 to 6 billion NTD Syndicated Loan Agreement Note 9
Loan International Bank Co., Ltd., and 2027/07/31 (Seven
Agreement seven other banks years after the first
Drawdown)
Special Land Bank of Taiwan From 2019/12/03 to Land Bank of Taiwan served as the Trustee to None
Purpose Trust the next day of the manage the asset trust securitization plan for
Agreement Final Distribution Chailease Finance Co., Ltd.
Date
Syndicated Mega Bills Finance Co., Ltd.; China From 2020/01/10 to 3.5 billion NTD Syndicated Loan Agreement Note 10
Loan Bills Finance Co., Ltd.; Union Bank of 2023/01/17 (Three
Agreement Taiwan Co., Ltd; Taiwan Cooperative years after the first
Bills Finance Co., Ltd. Drawdown)
Trust Deed Mega International Commercial Bank From 2020/04/22 to Mega International Commercial Bank Co., None
Co., Ltd. 2025/04/22 Ltd. served as the Trustee for the creditors for
Contract Services (Singapore) Pte. Ltd. 2023/08/11 (Three (Singapore) Pte. Ltd., a subsidiary of Chailease
years after the Holding Co., Ltd., applied for a 140 million
Signup) USD credit loan for medium-term operational
need. The facility agent is Mizuho Bank, and
Ltd.
Syndicated Land Bank of Taiwan and eight other From 2020/09/15 to 6 billion NTD Syndicated Loan Agreement Note 12
Loan banks 2023/11/20 (Three
Drawdown)
years after the first Holding Co., Ltd., applied for a 120 million
Drawdown) USD credit loan for medium-term operational
Ltd.
Syndicated Mega Bills Finance Co., Ltd.; China From 2021/01/29 to 5.1 billion NTD Syndicated Loan Agreement. Note 14
Loan Bills Finance Co., Ltd.; Dah Chung 2024/02/08 (Three
Agreement Bills Finance Corp.; Taiwan Finance years after the first
Corporation; and Ta Ching Bills Drawdown)
Finance Corporation.
Ltd.
Trust Deed Bank SinoPac Co., Ltd. From 2021/06/25 to Mega International Commercial Bank Co., None
2036/06/25 Ltd. served as the Trustee for the creditors for
118
Syndicated Mega International Commercial Bank From 2021/10/18 to 6 billion NTD Syndicated Loan Agreement. Note 16
Loan Co., Ltd. and eight other banks. 2024/10/17 (Three

Drawdown)
Guarantee Tien Ying Energy Co., Ltd. and four From 2021/11/25 Tien Ying Energy Co., Ltd. and four other None
Contract other Special Purpose Vehicles to 2025/05/25 (36 Special Purpose Vehicles applied for a 15.6
months after the first billion NTD credit loan for medium-term
Drawdown) operational need and the expansion of
solar power plants. The facility agent is Bank
SinoPac Co., Ltd.
The case is divided into construction phase (A)
and operation phase (B). Chailease Finance
Co., Ltd. served as the joint guarantor in the
phase A.
Syndicated International Bills Finance Co., Ltd.; From 2021/12/07 6.4 billion NTD Syndicated Loan Agreement. Note 17
Loan Union Bank of Taiwan Co., Ltd.; to 2026/12/07 (Five
Agreement Hua Nan Commercial Bank Co.; Union years after the
Bank of Taiwan Co., Ltd.; Taiwan Signup)
Cooperative Bills Finance Co., Ltd.
Ltd.
Syndicated Hua Nan Commercial Bank Co., and From 2022/02/10 to 6,036 million NTD Syndicated Loan Note 19
Loan six other banks. 2029/11/10 (Seven Agreement.
Drawdown)
Trust Deed Bank SinoPac Co., Ltd. From 2022/03/30 to Bank SinoPac Co., Ltd. served as the Trustee None
2032/03/30 for the creditors for Chailease Finance Co.,
Ltd. to issue the 1st Unsecured Corporate
Bonds in 2020.
Note 1：1. The net tangible assets, net worth ratio and the interest coverage ratio of the Company's non-consolidated financial statements shall be maintained at a certain rate
for the duration of the loan agreement.
2. During the loan agreement, the company's long-term and short-term credit ratings should meet the following criteria:
(1) In Taiwan Ratings Corp. rating, the long-term credit rating is equal to or higher than the twBBB+.\
(2) In Fitch Ratings Ltd. (Taiwan Branch), the long-term credit rating is equal to or higher than the BBB+(twn).
Note 2：1. The net tangible assets, net worth ratio and interest coverage ratio of the Company's non-consolidated financial statements shall be maintained at the following rate
for the duration of the loan agreement:
(1) The tangible net worth shall be no less than 10 billion NTD.
(2) The interest coverage ratio (EBITDA) shall be no less than 1.1.
(3) The net worth ratio (net tangible assets/total assets) shall be no less than 11%.
Note 3：1. The net tangible assets, net worth ratio and the interest coverage ratio of the Company's consolidated financial statements shall be maintained at the following rate
119
(3) The net worth ratio (net tangible assets /total assets) shall be no less than 11%.
(1) In Taiwan Ratings Corp. rating, the short-term credit is equal to or higher than TwA-2, and the long-term credit rating is equal to or higher than the twBBB+.
(2) In Fitch Ratings Ltd. (Taiwan Branch), the short-term credit is equal to or higher than F2., and the long-term credit rating is equal to or higher than the BBB+(twn).
Note 8：1. The net tangible assets, net worth ratio and the interest coverage ratio of the Company's non-consolidated financial statements shall be maintained at the following
rate for the duration of the loan agreement:
Note 9： 1. The net tangible assets, net worth ratio and the interest coverage ratio of the Company's consolidated financial statements shall be maintained at the following rate
(1) In Taiwan Ratings Corp. rating, the short-term credit is equal to or higher than TwA-2, and the long-term credit rating is equal to or higher than the twBBB+.
(2) In Fitch Ratings Ltd. (Taiwan Branch), the short-term credit is equal to or higher than F2., and the long-term credit rating is equal to or higher than the BBB+(twn).
Note 11：1. The net tangible assets, net worth ratio and the interest coverage ratio of the Company's non-consolidated financial statements shall be maintained at the following
Note 12： 1. The net tangible assets, net worth ratio and the interest coverage ratio of the Company's consolidated financial statements shall be maintained at the following rate
Note 13： 1. The net tangible assets, net worth ratio and the interest coverage ratio of the Company's non-consolidated financial statements shall be maintained at the following
Note 15：The net tangible assets, net worth ratio and the interest coverage ratio of the Company's non-consolidated financial statements shall be maintained at the following
Note 16：The net tangible assets, net worth ratio and the interest coverage ratio of the Company's consolidated financial statements shall be maintained at the following rate for
the duration of the loan agreement:
120

(1) In Taiwan Ratings Corp. rating, the short-term credit is equal to or higher than TwA-2, and the long-term credit rating is equal to or higher than the twtA-.
(2) In Fitch Ratings Ltd. (Taiwan Branch), the short-term credit is equal to or higher than F2., and the long-term credit rating is equal to or higher than the A-(twn).
Note 18：The net tangible assets, net worth ratio and the interest coverage ratio of the Company's consolidated financial statements shall be maintained at the following rate for
the duration of the loan agreement:
The net worth ratio (net tangible assets/total assets) shall be no less than 11%.
Note 19：The net tangible assets, net worth ratio and the interest coverage ratio of the Company's non-consolidated financial statements shall be maintained at the following
121
3. Fina Finance & Trading Co., Ltd.
Base Date: 2022.03.30
Contract
Contract Restrictive
Counterparty beginning and Major Content
type Covenants
ending date
Syndicated Land Bank of Taiwan Co., Ltd.; Bank of Taiwan Co., Ltd.; From 2018/05/31 3.6 billion NTD Syndicated Note 1
Loan Hua Nan Commercial Bank Co., Ltd.; Mega International to 2021/08/31 Loan Agreement
Agreement Commercial Bank Co., Ltd.; BANK SINOPAC Co., (Three years
Ltd.; Agricultural Bank of Taiwan Co., Ltd.; Taiwan after the first
Cooperative Bank Co., Ltd.; JihSun International Drawdown)
Commercial Bank Co., Ltd.; Chang Hwa
Commercial Bank Co., Ltd.; E.SUN Commercial Bank Co.,
Ltd.
Syndicated Land Bank of Taiwan Co., Ltd; Agricultural Bank of Taiwan From 2019/05/30 4.3billion NTD Syndicated Note 2
Loan Co., Ltd.; BANK SINOPAC Co., Ltd.; Taiwan Cooperative to 2022/08/30 Loan Agreement
Agreement Bank Co., Ltd.; Hua Nan Commercial Bank Co., Ltd.; (Three years
Taiwan Business Bank Co., Ltd.; Bank of China Co., Ltd.; after the first
Shin Kong Commercial Bank Co., Ltd.; Chang Hwa Drawdown)
Commercial Bank Co., Ltd.; Bank of Kaohsiung Co., Ltd.
Syndicated Taiwan Cooperative Bank Co., Ltd.; Far Eastern From 2020/03/20 6 billion NTD Syndicated Note 3
Loan International Bank Co., Ltd.; Bank of Taiwan Co., Ltd.; to 2023/03/20 Loan Agreement
Agreement Land Bank of Taiwan Co., Ltd; Sumitomo Mitsui Banking (Three years
Corporation; Mega International Commercial Bank Co. after the first
Ltd.; Agricultural Bank of Taiwan Co., Ltd.; Hua Nan Drawdown)
Commercial Bank Co., Ltd.; Chang Hwa Commercial
Bank Co., Ltd.; Taiwan Business Bank Co., Ltd.; Shanghai
Commercial and Savings Bank Co., Ltd.
Project Financial institution A From 2020/08/03 By abiding by Regulations Note 4
Agreement to 2022/08/03 Governing Internal
Operating Systems
and Procedures for the
Outsourcing of Financial
Institution Operation,
Financial institution A
engages Fina Finance &
Trading Co., Ltd. to do the
following activities:
Auto financing marketing;
Lending management;
Service consulting;
Document preservation.
Syndicated Land Bank of Taiwan Co., Ltd.; Hua Nan Commercial From 2020/12/29 6 billion NTD Syndicated Note 5
Loan Bank Co.; Taiwan Cooperative Bank Co., Ltd.; BANK to 2024/03/15 Loan Agreement
Agreement SINOPAC Co., Ltd.; Shanghai Commercial and Savings (Three years
Bank Co., Ltd.; Mega International Commercial Bank Co., after the first
Ltd.; Agricultural Bank of Taiwan Co., Ltd.; Shin Kong Drawdown)
Commercial Bank Co., Ltd.; Chang Hwa Commercial Bank
Co., Ltd.; and Taiwan Business Bank Co., Ltd..
Trust Deed BANK SINOPAC Co., Ltd. From 2021/05/06 BANK SINOPAC Co., Ltd. None
to 2026/05/06 served as the Trustee for the
creditors for Fina Finance &
Trading Co., Ltd. to issue the
1st Unsecured Corporate
Bonds in 2021.
Syndicated Land Bank of Taiwan Co., Ltd.; Bank of Taiwan Co., Ltd.; From 2021/08/31 6 billion NTD Syndicated Note 6
Loan Hua Nan Commercial Bank Co.; BANK SINOPAC Co., Ltd.; to 2024/08/30 Loan Agreement
Agreement Agricultural Bank of Taiwan Co., Ltd.; Taiwan Cooperative (Three years
Bank Co., Ltd.; and Chang Hwa Commercial Bank Co., Ltd. after the first
Drawdown)
Syndicated China Bills Finance Co., Ltd.; Mega Bills Finance Co., Ltd.; Case(A):From 7.3 billion NTD Syndicated Note 7
Loan Grand Bills Finance Corporation; Dah Chung Bills Finance 2021/09/17 to Loan Agreement
Agreement Corp.; Taiwan Finance Corporation; and Ta Ching Bills 2024/09/16
Finance Corporation.; Taiwan Cooperative Bills Finance (Amount:3.8
Co., Ltd.; Taishin International Bank Co., Ltd.; Union Bank billion)
of Taiwan Co., Ltd.; and Hua Nan Commercial Bank Co., Case (B):From
Ltd. 2021/12/08 to
2026/12/07
(Amount:3.5
billion)
122
Note 1：
1. The net tangible assets, net worth ratio and the interest coverage ratio of the Company's non-consolidated financial statements shall be maintained at a certain rate for the
duration of the loan agreement.
2. Except with the consent by the majority of the lending group, the company may not create the mortgage on the fixed assets, but resetting expired mortgage that does not

exceed the original amount or the mortgage for financing the purchased assets is not limited.
Note 2：
Note 3：
Note 4：
According to article 13(1) in the agreement, financial institution A may transfer the debt to the company if the following event occurs:
1. Borrower does not pay on schedule, and delayed payment exceeds 60 days.
2. There is a credit flaw, fraud, bankruptcy or other event on the borrower that indicate the inability to recover the debt.
3. There is irresolvable litigation, non-contentious matter or any dispute arising from the financial institution A's claims.
4. There is a flaw in debt documents that are preserved by the company, or the company does not preserve the debt documents properly by abiding the agreement.
If the company fails to complete the mortgage on the vehicle within the agreed deadline, the financial institution A shall notify the company to transfer the debt after setting the
vehicle as the collateral. And the designated third party approved by the company or the financial institution A purchases the debt.
Note 5:
The net tangible assets, net worth ratio and the interest coverage ratio of the Company's non-consolidated financial statements shall be maintained at the following rate for the
duration of the loan agreement:
(1) The net tangible assets shall be no less than 3 billion NTD.
Note 6:
The net tangible assets, net worth ratio and the interest coverage ratio of the Company's non-consolidated financial statements shall be maintained at the following rate for the
duration of the loan agreement:
(1) The net tangible assets shall be no less than 3 billion NTD.
Note7:
1. The net tangible assets, net worth ratio and the interest coverage ratio of the Company's consolidated financial statements shall be maintained at a certain rate for the duration
of the loan agreement.
(1) In Taiwan Ratings Corp. rating, the long-term credit rating is equal to or higher than the twBBB+.
123
4. Chailease International Finance Corporation
Base Date: 2022.03.30
Contract beginning and
Contract type Counterparty Major Content Restrictive Covenants
ending date
Strategic Shanghai Rural From 2019/05 to 2022/05 To promote cooperation None
Cooperation Commercial Bank between Chailease
Agreement Co., Ltd. International Finance
Corp., and Shanghai Rural
Commercial Bank Co.,
Ltd., the two parties are
engaged to jointly develop
credit, settlement, capital
management, investment,
personal financial services and
other business in accordance
with national laws, regulations
and relevant banking
regulations formulated by the
regulatory authorities.
Syndicated China From 2018/05/09 to The commitment amount is None
Loan Development three years after the final 4.5 billion RMB. Before May 9,
Agreement Bank Co., drawdown date. 2019, the loan can be partially
Ltd. and three request by entering separate
other financial sub-contracts. The loan period
institutions is three years from each
drawdown date.
Syndicated Taishin From 2018/11/15 to The loan amount is 250 The guarantor shall ensure the following
Loan International Bank three years after the final million USD. terms during the loan agreement:
Agreement Co., Ltd.and fifteen drawdown date. The first and the final 1. The tangible net worth shall be no
other financial drawdown shall be requested less than 15 billion NTD;
institutions within six and twelve months 2. The net worth ratio shall be no less
after the execution date of the than 10%;
agreement respectively. 3. The interest coverage ratio shall be no
The loan period is three years less than 1.1.。
from each drawdown date. The borrower shall ensure the following
terms during the loan agreement:
1. The net worth ratio shall be no less
than 10%; and
2. The interest coverage ratio shall be no
less than 1.1
Syndicated Mizuho Corporate From 2018/10/18 to The loan amount is The borrower shall ensure the following
Loan Bank, Ltd. three years after the final 2.015 billion RMB, and the terms during the loan agreement:
Agreement (China) and nine drawdown date. available period is 12 months. 1. The net worth ratio shall be no less
other financial The loan can be partially than 10%; and
institutions drawdown in several tranches. 2. The interest coverage ratio shall be no
The loan period is three years less than 1.1
from each drawdown date.
Loan Bank, Ltd. three years after the final 3 billion RMB, and the terms during the loan agreement:
Agreement (China) and nine drawdown date. available period is 12 months. 1. The net worth ratio shall be no less
other financial The loan can be partially than 10%; and
The loan period is three years less than 1.1.
from each drawdown date..
Syndicated China From 2019/09/26 to The loan amount is The guarantor shall ensure the following
Loan Development three years after the final 1 billion HKD, and the terms during the loan agreement:
Agreement Bank Co., drawdown date. available period is 6 months. 1. The net tangible assets shall be no
Ltd. (Asia); Hang The loan can be partially less than 15 billion NTD;
Seng Bank drawdown in several tranches. 2. The net worth ratio shall be no less
Limited; Oversea- The loan period is three years than 10%;
Chinese Banking from each drawdown date. 3. The interest coverage ratio shall be no
Co., Ltd.; and less than 1.1.
Agricultural Bank The borrower shall ensure the following
of China Limited terms during the loan agreement:
(Seoul Branch) 1. The net worth ratio shall be no less
than 10%; and
less than 1.1.
124
ending date
Syndicated Australia and From 2019/09/27 to The loan amount is 300 The guarantor shall ensure the following
Loan New Zealand three years after the final million USD. terms during the loan agreement:

Agreement Banking Group drawdown date. The loan can be partially 1. The tangible net worth shall be no
Ltd. (Hong Kong drawdown in several tranches less than 25 billion NTD;
Branch), Taishin with the first and the final 2. The net worth ratio shall be no less
International Bank drawdown made within six than 10%;
Co., Ltd. and 15 and twelve months after 3. The interest coverage ratio shall be no
other financial the execution date of the less than 1.1.
institutions agreement respectively. The borrower shall ensure the following
The loan period is three years terms during the loan agreement:
from each drawdown date. 1. The net worth ratio shall be no less
than 10%; and
2 The interest coverage ratio shall be no
less than 1.1
Syndicated Mizuho Bank From 2020/02/27 to The loan amount is The guarantor shall ensure the following
Loan Co., Ltd. and 5 three years after the final 8 billion JPY, and the available terms during the loan agreement:
Agreement other financial drawdown date. period is 6 months. The loan 1. The tangible net worth shall be no
institutions can be partially drawdown less than 15 billion NTD;
in several tranches. The loan 2. The net worth ratio shall be no less
period is three years from than 10%;
each drawdown date. 3. The interest coverage ratio shall be no
less than 1.2.
The borrower shall ensure the following
than 10%; and
less than 1.1.
Syndicated Oversea-Chinese From 2020/03/05 to The loan amount is The guarantor shall ensure the following
Loan Banking Co., Ltd. three years after the final 7.25 million RMB, and the terms during the loan agreement:
Agreement drawdown date. available period is 6 months. 1. The tangible net worth shall be no
The loan can be partially less than 15 billion NTD;
drawdown in several tranches. 2. The net worth ratio shall be no less
The loan period is three years than 10%;
from each drawdown date. 3. The interest coverage ratio shall be no
less than 1.1.
than 10%; and
less than 1.1.
Loan Bank, Ltd. three years after the final 3.79 billion RMB, and the terms during the loan agreement:
Agreement (China) and 12 drawdown date. available period is 12 months. 1. The net worth ratio shall be no less
other financial The loan can be partially than 10%; and
The loan period is three years less than 1.1.
from each drawdown date.
Syndicated China From 2020/06/16 to The commitment amount is 5 The borrower shall ensure the following
Loan Development three years after the final billion RMB. Before June 16th, terms during the loan agreement:
Agreement Bank Co., drawdown date. 2021, the loan can be partially (1) The asset-liability ratio shall be no
Ltd. (Asia) and four request by entering separate more than 87%;
other financial sub-contracts. The loan period (2) The defective rate shall be no more
institutions is three years from each than 5%; and
drawdown date. (3) The high risk to net asset ratio shall
be no more than 10:1.
125
ending date
Syndicated Bank SinoPac Co., From 2020/12/16 to The loan amount is 330 The guarantor shall ensure the following
Loan Ltd., Standard three years after the final million USD. terms during the loan agreement:
Agreement Chartered Bank drawdown date. The loan can be partially 1. The tangible net worth shall be no
(Taiwan) Limited drawdown in several tranches less than 25 billion NTD;
and twelve with the first and the final 2. The net worth ratio shall be no less
other financial drawdown made within six than 10%;
institutions and twelve months after 3. The interest coverage ratio shall be no
the execution date of the less than 1.1.
agreement respectively. The borrower shall ensure the following
than 10%; and
less than 1.1.
Syndicated Bank of China From 2021/03/18 to The loan amount is 2.2 billion The borrower shall ensure the following
Loan Shanghai Branch three years after the final RMB and the available period terms during the loan agreement:
Agreement and three drawdown date. is 12 months. The loan can be (1) The asset-liability ratio shall be no
other financial partially drawdown in several more than 87%;
institutions tranches. The loan period (2) The defective rate shall be no more
is three years from each than 3%; and
drawdown date. (3) The average quarterly rent recovery
rate shall be more than 90%.
Medium Term Mizuho Securities 2020/06/12 Chailease International None
Note Program Asia Limited, The Finance Corporation, Mizuho
Hongkong and Securities Asia Limited, The
Shanghai Banking Hongkong and Shanghai
Corporation Banking Corporation
Limited, and SMBC Limited, and SMBC Nikko
Nikko Securities Securities Inc. entered into a
Inc. underwriting agreement to
issue asset securities with the
total amount not exceeding
500 million USD.
Asset Lead Underwriter Date of Signature: Chailease International None
Securitization & Book runner: December, 2020. Finance Corporation, Bank of
Bank of Communications Co., Ltd.
Communications and JIC Trust Co., Ltd. entered
Co., Ltd.. into the underwriting and
Trust & trust agreement to issue
Management asset securities with the total
Agency: JIC Trust amount not exceeding 1.7
Co., Ltd. billion RMB.
Memorandum Bank of Shanghai Date of Signature: Based on the professional None
of Co., Ltd. 2009/02/18 system, function and network
understanding service and customer
resources of each serving
Small and Medium
Enterprises (SMEs), the MOU
aims to strengthen resource
sharing, complement each
other's advantages, and
jointly improve the service
capabilities to SMEs through
various cooperation methods.
Strategic Bank of China Date of Signature: Based on the good None
Cooperation Limited 2009/04/17 cooperation, the Strategic
Agreement Cooperation Agreement
aims to further promote
mutual development, actively
implement the state's policies
of supporting SMEs and
Taiwanese enterprises, and
jointly developed business
projects in various aspects.
126
ending date
Strategic Industrial and Date of Signature: The aims are support the None
Cooperation Commercial Bank 2009/08 strategic development of

Agreement of China Limited Chailease International
Finance Corp., develop close
cooperative relationship
between the two parties,
jointly develop markets,
promote financial and leasing
business innovation, and
establish a long-term stable
financial relationship between
the two parties.
Syndicated China From 2018/05/09 three The commitment amount is None
Loan Development years after the final 4.5 billion RMB. Before May
Agreement Bank Co., drawdown date 9th, 2019, the loan can be
Ltd. (Asia) partially request by entering
and three separate sub-contracts. The
other financial loan period is three years from
institutions each drawdown date.
Syndicated Taishin From 2018/11/15 three The loan amount is 250 The guarantor shall ensure the following
Loan International Bank years after the final million USD. terms during the loan agreement:
Agreement Co., Ltd. and 15 drawdown date. The loan can be partially 1. The tangible net worth shall be no
other financial drawdown in several tranches less than 15 billion NTD;
institutions with the first and the final 2. The net worth ratio shall be no less
drawdown made within six than 10%;
and twelve months after 3. The interest coverage ratio shall be no
than 10%; and
less than 1.1
Syndicated Mizuho Corporate From 2018/10/18 three The loan amount is 2.015 The borrower shall ensure the following
Loan Bank, Ltd. years after the final billion RMB and the available terms during the loan agreement:
Agreement (China) and nine drawdown date. period is 12 months. The loan 1. The net worth ratio shall be no less
other financial can be partially drawdown than 10%; and
institutions in several tranches. The loan 2. The interest coverage ratio shall be no
period is three years from less than 1.1.
each drawdown date.
Syndicated Mizuho Corporate From 2019/07/01 three The loan amount is 3 billion The borrower shall ensure the following
Loan Bank, Ltd. years after the final RMB and the available period terms during the loan agreement:
Agreement (China) and nine drawdown date. is 12 months. The loan can be 1. The net worth ratio shall be no less
other financial partially drawdown in several than 10%; and
institutions tranches. The loan period 2. The interest coverage ratio shall be no
is three years from each less than 1.1.
drawdown date.
Syndicated China From 2019/09/26 three The loan amount is The guarantor shall ensure the following
Loan Development years after the final 1 billion HKD, and the terms during the loan agreement:
Agreement Bank Co., drawdown date. available period is 6 months. 1. The net tangible assets shall be no
Ltd. (Asia); Hang The loan can be partially less than 15 billion NTD;
Seng Bank drawdown in several tranches. 2. The net worth ratio shall be no less
Limited; Oversea- The loan period is three years than 10%;
Chinese Banking from each drawdown date. 3. The interest coverage ratio shall be no
Co., Ltd.; and less than 1.1.
Agricultural Bank The borrower shall ensure the following
of China Limited terms during the loan agreement:
(Seoul Branch) 1. The net worth ratio shall be no less
than 10%; and
less than 1.1.
127
ending date
Syndicated Australia and From 2019/09/27 to The loan amount is 300 The guarantor shall ensure the following
Loan New Zealand three years after the final million USD. terms during the loan agreement:
Agreement Banking Group drawdown date. The loan can be partially 1. The tangible net worth shall be no
Ltd. (Hong Kong drawdown in several tranches less than 25 billion NTD;
Branch), Taishin with the first and the final 2. The net worth ratio shall be no less
International Bank drawdown made within six than 10%;
Co., Ltd. and 15 and twelve months after 3. The interest coverage ratio shall be no
other financial the execution date of the less than 1.1.
institutions agreement respectively. The borrower shall ensure the following
than 10%; and
less than 1.1
Syndicated Mizuho Bank From 2020/02/27 to The loan amount is The guarantor shall ensure the following
Loan Co., Ltd. and 5 three years after the final 8 billion JPY, and the available terms during the loan agreement:
Agreement other financial drawdown date. period is 6 months. The loan 1. The tangible net worth shall be no
institutions can be partially drawdown less than 15 billion NTD;
in several tranches. The loan 2. The net worth ratio shall be no less
period is three years from than 10%;
each drawdown date. 3. The interest coverage ratio shall be no
less than 1.2.
than 10%; and
less than 1.1.
Syndicated Oversea-Chinese From 2020/03/05 to The loan amount is The guarantor shall ensure the following
Loan Banking Co., Ltd. three years after the final 7.25 million RMB, and the terms during the loan agreement:
Agreement drawdown date. available period is 6 months. 1. The tangible net worth shall be no
less than 1.1.
than 10%; and
less than 1.1.
Syndicated Mizuho Corporate From 2021/07/27 three The loan amount is 5.53 The borrower shall ensure the following
Loan Bank, Ltd. years after the final billion RMB and the available terms during the loan agreement:
Agreement (China) and 16 drawdown date. period is 12 months. The loan 1. The net worth ratio shall be no less
other financial can be partially drawdown than 10%; and
institutions in several tranches. The loan 2. The interest coverage ratio shall be no
period is three years from less than 1.1.
each drawdown date.
Syndicated Mizuho Bank From 2021/06/07 to the The loan amount is The guarantor shall ensure the following
Loan Co., Ltd. and 5 date, that is 39 months 13.3 billion JPY, and the terms during the loan agreement:
Agreement other financial after Signup. available period is 6 months. 1. The tangible net worth shall be no
institutions The loan can be partially less than 15 billion NTD;
drawdown 2. The net worth ratio shall be no less
in several tranches. The loan than 10%;
period is three years from 3. The interest coverage ratio shall be no
each drawdown date but no less than 1.2.
longer than the date that is 39 The borrower shall ensure the following
months after the Signup. terms during the loan agreement:
than 10%; and
less than 1.1.
128
ending date
Bilateral Loan Oversea-Chinese From 2021/09/20 to The loan amount is The guarantor shall ensure the following
Agreement Banking Co., Ltd. three years after the final 4.75 million RMB, and the terms during the loan agreement:

drawdown date. available period is 6 months. 1. The tangible net worth shall be no
less than 1.1.
than 10%; and
less than 1.1.
Syndicated Taishin From 2021/12/30 to The loan amount is 350 The guarantor shall ensure the following
Loan International Bank three years after the final million USD. terms during the loan agreement:
Agreement Co., Ltd. and 18 drawdown date. The loan can be partially 1. The tangible net worth shall be no
other financial drawdown in several tranches less than 25 billion NTD;
institutions with the first and the final 2. The net worth ratio shall be no less
drawdown made within six than 10%;
and twelve months after 3. The interest coverage ratio shall be no
than 10%; and
less than 1.1
Asset Lead Underwriter Date of Signature: May, Chailease International None
Securitization & Book runner: 2021. Finance Corporation, Bank of
Bank of Communications Co., Ltd.
Communications and JIC Trust Co., Ltd. entered
Co., Ltd.. into the underwriting and
Trust & trust agreement to issue
Management asset securities with the total
Agency: JIC Trust amount not exceeding 2.6
Co., Ltd. billion RMB.
Asset Lead Underwriter Date of Signature: Chailease International None
Securitization & Book runner: December, 2021. Finance Corporation,
Shanghai Pudong Shanghai Pudong
Development Development Bank Co., Ltd.
Bank Co., Ltd. and JIC Trust Co., Ltd. entered
Trust & into the underwriting and
Management trust agreement to issue
Agency: JIC Trust asset securities with the total
Co., Ltd. amount not exceeding 2.3
billion RMB.
129
Value, Growth
Honesty and Discipline
VI. Financial Highlights
(1) Condensed financial reports for the past five fiscal years
1. Condensed Balance Sheet
Unit: NT$ thousands
Year Condensed Balance Sheet from 2017 to 2021 (Consolidated) (Note 1)
Item 2017 2018 2019 2020 2021

Current Assets 251,522,147 302,543,631 367,117,216 437,984,422 511,789,886
Property, Plant and Equipment 10,059,227 10,349,301 34,476,923 44,043,357 52,240,669
Intangible Assets 63,860 75,746 75,308 97,776 93,845
Other Assets (Note 3) 65,931,451 87,409,031 95,668,412 111,198,279 149,102,516
Total Assets 327,576,685 400,377,709 497,337,859 593,323,834 713,226,916
Before Distribution 212,945,090 272,813,141 324,375,686 376,068,056 423,903,922
Current Liabilities
After Distribution 217,749,164 278,229,102 330,485,406 383,155,847 (Note3)
Non-current Liabilities 58,467,774 63,501,469 99,024,153 117,276,908 172,808,731
Total Liabilities
Equity Attributable to Shareholders of the
53,661,875 61,214,225 69,761,962 95,495,740 109,624,067
Parent
Capital Stock 12,642,300 12,895,146 13,282,000 15,313,280 16,003,944
Capital Surplus 17,367,796 17,367,796 17,379,467 30,883,964 31,050,217
Retained Earnings
Other Equity (1,397,823) (2,095,945) (3,283,275) (3,307,294) (3,963,115)
Non-controlling Interests 2,501,946 2,848,874 4,176,058 4,483,130 6,890,196
Total Equity
Note1: Audited by accountants from 2017 to 2021 and issued unqualified opinions
Note2: No re-evaluation of assets in 2017 ~2021
Note 3: Distribution of Retain Earning for the year 2021 Pending shareholders’approval.
132
2. Condensed Statement of Comprehensive Income
Unit: NT$ thousands
Year Condensed Balance Sheet from 2017 to 2021 (Consolidated) (Note 1)

Item 2017 2018 2019 2020 2021
Net Revenue 41,454,699 50,472,590 59,132,232 59,477,759 72,159,554
Gross Profit 25,709,410 31,088,748 35,644,180 42,710,734 52,671,434
Income from Operations 12,857,303 18,069,435 20,761,677 23,675,886 33,484,832
Non-operating Income and Expenses 696,109 780,626 985,652 989,608 1,169,559
Income before Income Tax 13,553,412 18,850,061 21,747,329 24,665,494 34,654,391
Net Income 10,003,385 13,892,493 16,097,559 17,538,421 22,694,800
Other Comprehensive Income for the Year,
(476,811) (691,760) (1,183,259) (208,898) (1,086,037)
Net of Income Tax
Total Comprehensive Income for the Year 9,526,574 13,200,733 14,914,300 17,329,523 21,608,763
Net Income (Loss) Attributable to
9,656,514 13,369,370 15,468,812 16,857,199 21,643,760
Shareholders of the Parent
Net Income (Loss) Attributable to:
346,871 523,123 628,747 681,222 1,051,040
Noncontrolling Interests
Total Comprehensive Income (Loss)
8,998,499 12,602,264 14,159,744 16,839,001 21,049,865
Attributable to Shareholders of the Parent
Total Comprehensive Income (Loss)
528,075 598,469 754,556 490,522 558,898
Attributable to Noncontrolling Interests
Basic Earnings Per Share (Note 2) 6.66 9.22 10.67 11.62 14.80
Note 1：Audited by accountants from 2017 to 2021 and issued unqualified opinions
Note 2：Based on weighted average shares outstanding in each year.
3. Auditors’ Opinions from 2017 to 2021

Year CPA Audit Opinion
KPMG
2017 An Unqualified Opinion
KPMG
KPMG
KPMG
KPMG
133
(2) Financial analysis for the past five fiscal years
1. Financial Analysis from 2017 to 2021
Item Financial Analysis from 2017 to 2021 (Unconsolidated) (Note 1)
2016 2017 2018 2019 2020 2021
Capital Debt Ratio (%) 82.85 84.00 85.13 83.15 83.66

Structure Long-term Fund to Property, Plant and
Analysis 1,139.51 1,232.59 501.68 493.28 553.83
Equipment Ratio (%)
Current Ratio (%) 118.12 110.90 113.18 116.46 120.73
Liquidity
Quick Ratio (%) 116.12 109.15 111.32 114.22 119.12
Analysis
Times Interest Earned (Times) 3.75 4.09 3.71 3.73 4.65
Average Collection Turnover (Times) (Note 4) (Note 4) (Note 4) (Note 4) (Note 4)
Days Receivables Outstanding (Note 4) (Note 4) (Note 4) (Note 4) (Note 4)
Average Inventory Turnover (Times) (Note 4) (Note 4) (Note 4) (Note 4) (Note 4)
Operating
Performance Average Payment Turnover (Times) (Note 4) (Note 4) (Note 4) (Note 4) (Note 4)
Analysis Average Inventory Turnover Days (Note 4) (Note 4) (Note 4) (Note 4) (Note 4)
Property, Plant and Equipment Turnover
4.07 4.95 2.64 1.51 1.50
(Times)
Total Assets Turnover (Times) 0.14 0.14 0.13 0.11 0.11
Return on Total Assets (%) 4.87 5.49 5.37 4.87 4.93
Return on Equity (%) 20.48 23.11 23.33 20.17 20.97
Profitability
Pre-tax Income to Paid-in Capital Ratio (%) 107.21 146.18 163.74 161.07 216.54
Analysis
Net Margin (%)) 24.13 27.52 27.22 29.49 31.45
Basic Earnings Per Share (NT$)(Note 3) 6.66 9.22 10.67 11.62 14.80
Cash Flow Ratio (%) 0.61 3.00 2.63 3.05 7.59
Cash Flow Cash Flow Adequacy Ratio (%) 55.14 57.11 51.93 52.90 78.48
Cash Flow Reinvestment Ratio (%) 0.00 6.55 3.36 4.29 14.32
Operating Leverage 2.00 1.77 1.72 1.80 1.57
Leverage
Financial Leverage 1.62 1.51 1.62 1.61 1.40
Explanation: Analysis of differences deviations over 20%.
1. Times Interest Earned increased mainly due to the increase in the growth ratio of net profit.
2. Pre-tax Income to Paid-in Capital Ratio increased mainly due to the growth of business origination.
3. Cash Flow Ratio, Cash Flow Adequacy Ratio and Cash Flow Reinvestment Ratio increased in 2021 due to an increase in net cash
flows provided by operating activities.
Note 1：Audited by accountants from 2017 to 2021 and issued unqualified opinions
Note 2：Glossary *Glossary
1. Capital Structure Analysis
(1) Debt Ratio = Total Liabilities / Total Assets
(2) Long-term Fund to Fixed Assets Ratio = (Shareholders’Equity + Long-term Liabilities) / Net Fixed Assets
2. Liquidity Analysis
(1) Current Ratio = Current Assets / Current Liabilities
(2) Quick Ratio = (Current Assets - Inventories - Prepaid Expenses) / Current Liabilities (3)Times Interest Earned = Earnings before Interest and Taxes / Interest Expenses
3. Operating Performance Analysis
(1) Average Collection Turnover = Net Sales / Average Trade Receivables
(2) Days Sales Outstanding = 365 / Average Collection Turnover
(3) Average Inventory Turnover = Cost of Sales / Average Inventory
(4) Average Inventory Turnover Days = 365 / Average Inventory Turnover
(5) Average Payment Turnover = Cost of Sales / Average Trade Payables
(6) Fixed Assets Turnover = Net Sales / Average Net Fixed Assets
(7) Total Assets Turnover = Net Sales / Average Total Assets
134
4. Profitability Analysis
(1) Return on Total Assets = (Net Income + Interest Expenses * (1 - Effective Tax Rate)) /Average Total Assets
(2) Return on Equity = Net Income / Average Shareholders’Equity
(3) Operating Income to Paid-in Capital Ratio = Operating Income / Paid-in Capital

(4) Pre-tax Income to Paid-in Capital Ratio = Income before Tax / Paid-in Capital
(5) Net Margin = Net Income / Net Sales
(6) Earnings Per Share = (Net Income - Preferred Stock Dividend) / Weighted Average Number of Shares Outstanding
5. Cash Flow
(1) Cash Flow Ratio = Net Cash Provided by Operating Activities / Current Liabilities
(2) Cash Flow Adequacy Ratio = Five-year Sum of Cash from Operations / Five-year Sum of Capital Expenditures, Inventory Additions, and Cash Dividend
(3) Cash Flow Reinvestment Ratio = (Cash Provided by Operating Activities - Cash Dividends) / (Gross Fixed Assets + Long-term Investments + Other Assets + Working
Capital)
6. Leverage
(1) Operating Leverage = (Net Sales - Variable Cost) / Income from Operations
(2) Financial Leverage = Income from Operations / (Income from Operations - Interest Expenses)
Note 3：The company’s stock par value is NT$10 per share.
Note 4：The Company’s receivables and payables are not arising from sale of goods and purchase of goods.
(3) Key Performance：

Key Performance 2020 2021
Net Account receivables 469,865,935 544,710,700
Borrowungs(Note1) 408,176,711 498,940,117
Total assets 593,323,834 713,226,916
Return on Equity (%)(Note2) 20.40% 21.10%
ROA 4.87% 4.93%
ROE 16.85% 16.34%
Note1： Includeing bank borrowings、other borrowings and bonds payable
Note 2：Return on Equity = Net Profit attributable to owners of parent / Average Equity attributable to owners of parent
135
(4) Audit committee’s report on financial statements from the most recent year

Audit Committee’s Report
The Board of Directors has prepared the Company’s 2021Business Report, Financial Statements, and proposal for
allocation of profits. The CPAs of KPMG, Ms. Shu Min Hsu and Ms. Wan Wan Lin were retained to audit Chailease Holding
Company Limited’s Financial Statements and have issued an audit report relating to the Financial Statements.
The Business Report, Financial Statements, and profit allocation proposal have been reviewed and determined to be
correct and accurate by the Audit committee members of Chailease Holding Company Limited.
According to Article 14-4 of the Securities and Exchange Act, we hereby submit this report.
Chairman of the Audit Committee: Casey K.Tung

March 30, 2022
136
(5) Financial Report (Attachment)
(6) Impact of the financial distress occurred to the company and affiliates in

recent years until the annual report being published: None.
137
Representation Letter
The entities that are required to be included in the combined financial statements of Chailease Holding
Company Limited as of and for the year ended December 31, 2021 under the Criteria Governing the
Preparation of Affiliation Reports, Consolidated Business Reports, and Consolidated Financial Statements of
Affiliated Enterprises are the same as those included in the consolidated financial statements prepared in
conformity with International Financial Reporting Standards No. 10 endorsed by the Financial Supervisory
Commission, "Consolidated Financial Statements." In addition, the information required to be disclosed
in the combined financial statements is included in the consolidated financial statements. Consequently,
Chailease Holding Company Limited and Subsidiaries do not prepare a separate set of combined financial
statements.
Company Name: Chailease Holding Company Limited

Chairman: Fong Long, Chen
Date: February 25, 2022
138
Independent Auditors’ Report
To the Board of Directors of Chailease Holding Company Limited:
Opinion

We have audited the consolidated financial statements of Chailease Holding Company Limited and its
subsidiaries (“the Group”), which comprise the consolidated balance sheets as of December 31, 2021 and
2020, the related consolidated statements of comprehensive income, consolidated statements of changes in
equity and consolidated statements of cash flows for the years then ended, and notes to the consolidated
financial statements, including a summary of significant accounting policies.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects,
the consolidated financial position of the Group as at December 31, 2021 and 2020, and its consolidated
financial performance and its consolidated cash flows for the years then ended in accordance with the
Regulations Governing the Preparation of Financial Reports by Securities Issuers and with the International
Financial Reporting Standards (“IFRSs”), International Accounting Standards (“IASs”), Interpretations
developed by the International Financial Reporting Interpretations Committee (“IFRIC”) or the former
Standing Interpretations Committee (“SIC”) endorsed and issued into effect by the Financial Supervisory
Commission of the Republic of China.
Basis for Opinion
We conducted our audit in accordance with the Regulations Governing Auditing and Certification of
Financial Statements by Certified Public Accountants and the auditing standards generally accepted in
the Republic of China. Our responsibilities under those standards are further described in the Auditors’
Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are
independent of the Group in accordance with the Certified Public Accountants Code of Professional Ethics in
Republic of China (“the Code”), and we have fulfilled our other ethical responsibilities in accordance with the
Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
of our opinion.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our
audit of the consolidated financial statements of the current period. These matters were addressed in the
context of our audit of the consolidated financial statements taken as a whole, and in forming our opinion
thereon, and we do not provide a separate opinion on these matters individually. Based on our judgment,
the key audit matters that should be disclosed in this audit report are as follows:
1. Impairment assessment of accounts receivable
Refer to Note (4) (g) “Financial instruments” and Note (5) “Significant accounting assumptions and
judgments, and major sources of estimation uncertainty” and Note (6) (d) “accounts receivable, net” to
the consolidated financial statements for the details of the information about impairment assessment on
accounts receivable.
Description of key audit matter:
The Group is engaged primarily in providing various services of leasing and financing, in which accounts
receivable is a significant account of the Group. Impairment allowances are provided on accounts
receivable based on management’s best estimate of the potential losses in the accounts receivable
portfolios at the balance sheet date. Management exercise judgment in making assumptions and
estimations when calculating for impairment allowances on both individually and collectively assessed
accounts receivables.
How the matter was addressed in our audit:
In relation to the key audit matter above, we have performed certain key audit procedures that included
evaluating the adequacy of the Group’s impairment policy on financial assets; testing to check compliance
with the internal control on the process of evaluating impairment losses on loans and receivable;
evaluating the assumptions and data used in the calculation; testing and evaluating the appropriateness
of the expected credit loss model used by management while calculating the expected credit loss; and
evaluating the adequacy of the Group’s disclosure for Impairment allowances on loans and receivables.
139
Responsibilities of Management and Those Charged with Governance for the Consolidated Financial
Statements
Management is responsible for the preparation and fair presentation of the consolidated financial
statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities
Issuers and IFRSs, IASs, IFRC, SIC endorsed and issued into effect by the Financial Supervisory Commission
of the Republic of China, and for such internal control as management determines is necessary to enable
the preparation of consolidated financial statements that are free from material misstatement, whether due
to fraud or error.
In preparing the consolidated financial statements, management is responsible for assessing the Group’s
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using
the going concern basis of accounting unless management either intends to liquidate the Group or to cease
operations, or has no realistic alternative but to do so.
Those charged with governance (including the Audit Committee) are responsible for overseeing the Group’s
financial reporting process.
Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as
a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with the auditing standards generally accepted in the Republic of China will
always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these consolidated financial statements.
As part of an audit in accordance with auditing standards generally accepted in the Republic of China, we
exercise professional judgment and maintain professional skepticism throughout the audit. We also:
1. Identify and assess the risks of material misstatement of the consolidated financial statements, whether
due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting
a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
2. Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Group’s internal control.
3. Evaluate the propriety of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by management.
4. Conclude on the propriety of management’s use of the going concern basis of accounting and, based
on the audit evidence obtained, whether a material uncertainty exists related to events or conditions
that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude
that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related
disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our
opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report.
However, future events or conditions may cause the Group to cease to continue as a going concern.
5. Evaluate the overall presentation, structure and content of the consolidated financial statements,
including the disclosures, and whether the consolidated financial statements represent the underlying
transactions and events in a manner that achieves fair presentation.
6. Obtain sufficient appropriate audit evidence regarding the financial information of the entities or
business activities within the Group to express an opinion on the consolidated financial statements. We
are responsible for the direction, supervision and performance of the group audit.
We communicate with those charged with governance regarding, among other matters, the planned scope
and timing of the audit and significant audit findings, including any significant deficiencies in internal
control that we identify during our audit.
140
We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, and where applicable, related
safeguards.

From the matters communicated with those charged with governance, we determine those matters that
were of most significance in the audit of the consolidated financial statements of the current period and are
therefore the key audit matters. We describe these matters in our auditors’ report unless law or regulation
precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that
a matter should not be communicated in our report because the adverse consequences of doing so would
reasonably be expected to outweigh the public interest benefits of such communication.
The engagement partners on the audit resulting in this independent auditors’ report are Shu‑Min Hsu and
Wan‑Wan Lin.
KPMG
Taipei, Taiwan (Republic of China)
February 25, 2022
141
CHAILEASE HOLDING COMPANY LIMITED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
December 31, 2021 and 2020
(Amounts Expressed in Thousands of New Taiwan Dollars)
2021.12.31 2020.12.31
Assets Amount % Amount %
Current assets：
1100 Cash and cash equivalents (Notes (6)(a) and (7)) $ 46,374,548 7 32,796,805 6
1110 Current financial assets at fair value through profit or loss (Note (6)(b)) 1,393,619 - 821,296 -
1136 Current financial assets at amortized cost (Note (6)(b) and (7)) 22,320,694 3 14,418,945 2
1139 Current financial assets for hedging (Notes (6)(b) and (6)(c)) 7,381 - 118,697 -
1170 Accounts receivable, net (Notes (6)(d), (7) and (8)) 427,555,719 60 375,719,022 63
1476 Other current financial assets (Notes (7) and (8)) 7,209,104 1 5,524,900 1
1479 Other current assets (Notes (6)(e) and (7)) 6,928,821 1 8,584,757 2
511,789,886 72 437,984,422 74
Non‑current assets：

1510 Non‑current financial assets at fair value through profit or loss (Note (6)(b)and 20,936 - 28,147 -
(6)(l))
1517 Non‑current financial assets at fair value through other comprehensive income 930,663 - 828,361 -
(Note (6)(b))
1535 Non‑current financial assets at amortized cost (Note (6)(b)) 8,173,072 1 4,279,012 1
1530 Non‑current financial assets for hedging (Note(6)(b) and (6)(c)) 301,897 -
-
-
1550 Investments accounted for using equity method (Note (6)(f )) 1,759,104 - 1,807,241 -
1600 Property, plant and equipment (Notes (6)(g), (7) and (8)) 52,240,669 7 44,043,357 7
1755 Right‑of‑use assets (Notes(6)(h) and (7)) 5,034,463 1 4,197,210 1
1780 Intangible assets (Note (6)(i)) 93,845 - 97,776 -
1840 Deferred tax assets (Note (6)(o)) 4,377,432 1 4,121,825 1
1930 Long‑term accounts receivable, net (Notes (6)(d), (7) and (8)) 117,154,981 16 94,146,913 16
1995 Other non‑current assets (Notes (7) and (8)) 11,349,968 2 1,789,570 -
201,437,030 28 155,339,412 26

TOTAL ASSETS $ 713,226,916 100 593,323,834 100
The accompanying notes are an integral part of the consolidated financial statements.
142
CONSOLIDATED BALANCE SHEETS
December 31, 2021 and 2020

2021.12.31 2020.12.31
LIABILITIES AND EQUITY Amount % Amount %
Current Liabilities：
2100 Short‑term borrowings (Notes (6)(k), (7) and (8)) $ 66,335,264 9 56,025,737 9
2110 Short‑term notes and bills payable (Notes (6)(j) and (8)) 90,275,406 13 83,998,707 14
2126 Current financial liabilities for hedging (Note (6)(c)) 543,826 - 1,402,120 -
2170 Accounts and notes payable 6,278,622 1 6,826,884 1
2230 Current tax liabilities 7,712,732 1 3,011,666 1
2280 Current lease liabilities (Note (6)(m) and (7)) 1,308,272 - 949,959 -
2305 Other current financial liabilities (Notes (7)) 62,114,671 9 55,729,072 9
2320 Long‑term liabilities, current portion (Note (6)(k), (6)(l), (7) and (8)) 183,990,034 25 163,482,916 28
2399 Other current liabilities 5,345,095 1 4,640,995 1
423,903,922 59 376,068,056 63
Non‑current Liabilities：

2511 Non‑current financial liabilities for hedging (Note (6)(c)) 8,413 -
-
-
2530 Bonds payable (Notes (6)(l)) 39,567,568 5 19,871,998 3
2540 Long‑term borrowings (Notes (6)(k), (7) and (8)) 118,771,845 17 84,797,353 14
2570 Deferred tax liabilities(Notes (6)(o)) 3,739,732 1 3,005,005 1
2580 Non‑current lease liabilities (Note (6)(m) and (7)) 3,754,831 1 3,272,489 1
2600 Other non‑current liabilities(Notes (6)(n)) 6,966,342 1 6,330,063 1
172,808,731 25 117,276,908 20
Total Liabilities 596,712,653 84 493,344,964 83
Equity attributable to owners of the Company：(Note (6)(p))

3110 Ordinary share 14,503,944 2 13,813,280 3
3120 Preferred share 1,500,000 - 1,500,000 -
3200 Capital surplus 31,050,217 4 30,883,964 5
3320 Special reserve 3,307,294 1 3,283,275 1
3350 Unappropriated retained earnings 63,225,727 9 49,322,515 8
3400 Other equity items (3,963,115) (1 ) (3,307,294 ) (1 )
Total equity attributable to owners of the Company 109,624,067 15 95,495,740 16
36XX Non‑controlling interests 6,890,196 1 4,483,130 1
Total equity 116,514,263 16 99,978,870 17
TOTAL LIABILITIES AND EQUITY $ 713,226,916 100 593,323,834 100
143
CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
For the Years Ended December 31, 2021 and 2020
For the years ended December 31,
2021 2020
Amount % Amount %
Operating revenues: (Note (7))
4111 Sales revenue $ 5,132,662 7 4,210,818 7
4810 Interest revenue ‑ installment sales 13,648,813 19 10,880,685 18
4820 Interest revenue ‑ capital leases 24,544,166 34 20,718,562 35
4300 Rental revenue ‑ operating leases 4,585,134 6 3,820,500 6
4230 Interest revenue ‑ loans 6,109,708 9 5,065,606 9
4240 Other interest revenue 8,689,291 12 6,270,379 11
4881 Other operating revenue 9,449,780 13 8,511,209 14
72,159,554 100 59,477,759 100
Operating costs: (Note (7))
5111 Cost of sales 2,898,870 4 2,268,549 4
5240 Interest expense 9,454,373 13 8,937,992 15
5300 Cost of rental revenue 3,239,625 4 2,679,246 4
5800 Other operating costs 3,895,252 5 2,881,238 5
19,488,120 26 16,767,025 28
Gross profit from operation 52,671,434 74 42,710,734 72
6400 Operating expenses (Note (7)) 13,515,416 19 12,290,324 21
6450 Expected credit loss (Note (6)(d)) 6,347,682 9 7,123,450 12
6500 Net other income and expenses (Note (6)(s)) 676,496 1 378,926 1
Operating profit 33,484,832 47 23,675,886 40
Non‑operating income and expenses:
7100 Interest income 248,611 - 217,503 -
7130 Dividend income 31,224 - 47,268 -
7020 Other gains and losses (Note (6)(t) and (7)) 853,609 1 753,364 1
7060 Share of profit (loss) of associates and joint ventures accounted for using equity method (Note (6)(f)) 36,115 - (28,527) -
1,169,559 1 989,608 1
7900 Profit before income tax 34,654,391 48 24,665,494 41
7950 Less: Income tax expenses (Note (6) (o)) 11,959,591 17 7,127,073 12
Profit for the period 22,694,800 31 17,538,421 29
Other comprehensive income (loss):
8310 Components of other comprehensive income that will not be reclassified to profit or loss
8311 Gains on remeasurements of defined benefit plans 65,967 - 4,223 -
8316 Unrealized gains (losses) from investments in equity instruments measured at fair value through other 127,075 - (78,337) -
comprehensive income
8349 Less: Income tax related to components that will not be reclassified to profit or loss (Note (6)(o)) 13,193 - 845 -
Total components of other comprehensive income that will not be reclassified to profit or loss 179,849 - (74,959) -
8360 Components of other comprehensive income (loss) that will be reclassified to profit or loss
8361 Exchange differences on translation (1,514,522) (2) (570,370) (1)
8368 Gains (losses) on hedging instrument (Note (6)(c)) 223,483 1 326,829 1
8370 Share of other comprehensive income of associates and joint ventures accounted for using equity method, (6,217) - 38,148 -
components of other comprehensive income that will be reclassified to profit or loss (Note (6)(f))
8399 Less: Income tax related to components of other comprehensive income that will be reclassified to profit or (31,370) - (71,454) -
loss (Note (6)(o))
Total components of other comprehensive income that will be reclassified to profit or loss (1,265,886) (1) (133,939) -
Other comprehensive income (net of tax) (1,086,037) (1) (208,898) -
8500 Total comprehensive income for the period $ 21,608,763 30 17,329,523 29
Profit attributable to:
8610 Owners of the Company $ 21,643,760 30 16,857,199 28
8620 Non‑controlling interests 1,051,040 1 681,222 1
$ 22,694,800 31 17,538,421 29
Comprehensive income attributable to:
8710 Owners of the Company $ 21,049,865 29 16,839,001 28
8720 Non‑controlling interests 558,898 1 490,522 1
$ 21,608,763 30 17,329,523 29
9750 Basic earnings per share (NT dollars) (Note (6)(q)) $ 14.80 11.62
144
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Equity Attributable to Owners of the Company
Other Equity Items

Share Capital Retained EarningsExchange Unrealized gains
differences on (losses) from financial Total equity
translation of assets measured at fair Gains (losses) attributable
Ordinary Preferred Capital Special Unappropriated foreign financial value through other on hedging to owners of the Non‑controlling Total
share share surplus reserve retained earnings statements comprehensive income instruments Company interests equity
Balance at January 1, 2020 $ 13,282,000 - 17,379,467 2,095,945 40,287,825 (3,239,314) (219,957) 175,996 69,761,962 4,176,058 73,938,020
Profit for the year ended December 31, 2020 - - - - 16,857,199 - - - 16,857,199 681,222 17,538,421
Other comprehensive income (loss) for the year ended December 31, 2020 - - - - 5,821 (272,511) (78,337) 326,829 (18,198) (190,700) (208,898)
Total comprehensive income (loss) for the year ended December 31, 2020 - - - - 16,863,020 (272,511) (78,337) 326,829 16,839,001 490,522 17,329,523
Earnings distribution and appropriation:
Special reserve appropriated - - - 1,187,330 (1,187,330) - - - - - -
Cash dividends of ordinary share - - - - (6,109,720) - - - (6,109,720) - (6,109,720)
Stock dividends of ordinary share 531,280 - - - (531,280) - - - - - -
Other changes in capital surplus - - 623 - - - - - 623 - 623
Changes in non‑controlling interests - - - - - - - - - (183,450) (183,450)
Issuance of preferred shares - 1,500,000 13,489,161 - - - - - 14,989,161 - 14,989,161
Effects on the long‑term equity investment not recognized based on shareholding ratios - - 14,713 - - - - - 14,713 - 14,713
Balance at December 31, 2020 13,813,280 1,500,000 30,883,964 3,283,275 49,322,515 (3,511,825) (298,294) 502,825 95,495,740 4,483,130 99,978,870
Profit for the year ended December 31, 2021 - - - - 21,643,760 - - - 21,643,760 1,051,040 22,694,800
Other comprehensive income (loss) for the year ended December 31, 2021 - - - - 61,926 (1,006,379) 127,075 223,483 (593,895) (492,142) (1,086,037)
Total comprehensive income (loss) for the year ended December 31, 2021 - - - - 21,705,686 (1,006,379) 127,075 223,483 21,049,865 558,898 21,608,763
Earnings distribution and appropriation:
Special reserve appropriated - - - 24,019 (24,019) - - - - - -
Cash dividends of ordinary share - - - - (6,906,640) - - - (6,906,640) - (6,906,640)
Cash dividends of preferred share - - - - (181,151) - - - (181,151) - (181,151)
Stock dividends of ordinary share 690,664 - - - (690,664) - - - - - -
Issuance of convertible bonds - - 149,771 - - - - - 149,771 - 149,771
Other changes in capital surplus - - 952 - - - - - 952 - 952
Changes in non‑controlling interests - - - - - - - - - 1,848,168 1,848,168
Change in equity of associates and joint ventures accounted for using equity method - - 14,059 - - - - - 14,059 - 14,059
Effects on the long‑term equity investment not recognized based on shareholding ratios - - 1,471 - - - - - 1,471 - 1,471
Balance at December 31, 2021 $ 14,503,944 1,500,000 31,050,217 3,307,294 63,225,727 (4,518,204) (171,219) 726,308 109,624,067 6,890,196 116,514,263
145
CONSOLIDATED STATEMENTS OF CASH FLOWS
2021 2020
Cash flows from operating activities:

Profit before tax $ 34,654,391 24,665,494
Adjustments:

Adjustments to reconcile profit (loss):

Depreciation expense 5,171,853 4,404,909
Amortization expense 147,400 175,369
Expected credit loss 6,347,682 7,123,450
Net (gain) loss on financial assets or liabilities at fair value through profit or loss (62,430 ) 4,301
Interest expense 9,496,361 8,991,038
Interest income (53,240,589 ) (43,152,735 )
Dividend income (31,224 ) (47,268 )
Share of (gain) loss of associates and joint ventures accounted for using equity method (36,115 ) 28,527
Gain on disposal of property, plant and equipment (114,626 ) (135,394 )
Loss on disposal of foreclosed assets 142,161 193,424
Impairment loss on non‑financial assets 427,550 323,887
Effect of changes and subletting in lease contract (119 ) (529 )
Total adjustments to reconcile profit (31,752,096 ) (22,091,021 )
Changes in operating assets and liabilities:

Changes in operating assets:

Increase in financial assets at fair value through profit or loss, mandatorily measured at fair (506,286 ) (538,434 )
value
Increase in accounts receivable (89,314,774 ) (74,585,211 )
(Increase) decrease in other current financial assets (1,409,173 ) 3,316,424
Decrease (increase) in other current assets 1,517,948 (2,563,023 )
Proceeds from sales of operating lease assets and operating equipment 2,198,369 1,371,745
Purchase of operating lease assets and operating equipment (14,632,276 ) (14,803,213 )
Increase in other operating assets (9,717,974 ) (893,986 )
Total changes in operating assets (111,864,166 ) (88,695,698 )
Changes in operating liabilities:

(Decrease) increase in accounts and notes payable (502,263 ) 180,382
Increase in long term and short‑term debts 423,361,762 356,236,368
Repayment of long term and short‑term debts (326,582,863 ) (296,032,240 )
Increase in other current financial liabilities 6,601,444 9,348,849
Decrease in accrued pension liabilities (12,612 ) (9,617 )
Increase in other current liabilities 728,711 1,031,050
Increase (decrease) in other non‑current operating liabilities 839,682 (877,337 )
Total changes in operating liabilities 104,433,861 69,877,455
Total changes in operating assets and liabilities (7,430,305 ) (18,818,243 )
146
CONSOLIDATED STATEMENTS OF CASH FLOWS

2021 2020
Total adjustments (39,182,401 ) (40,909,264 )
Cash flows used in operations (4,528,010 ) (16,243,770 )
Interest received 52,907,335 42,866,159
Dividends received 72,882 47,268
Interest paid (9,551,405 ) (8,890,226 )
Income taxes paid (6,733,891 ) (6,321,469 )
Net cash flows provided by operating activities 32,166,911 11,457,962
Cash flows from investing activities:

Acquisition of financial assets at fair value through other comprehensive income - (10,000 )
Proceeds from disposal of financial assets at fair value through other comprehensive income 16,172 -
Capital reduction of financial assets at fair value through other comprehensive income 2,448 -
Acquisition of financial assets at amortized cost (23,594,874 ) (16,137,947 )
Proceeds from disposal of financial assets at amortized cost 11,799,065 11,008,860
Acquisition of investments accounted for using equity method (3,219 ) (202,218 )
Proceeds from capital reduction of investments accounted for using equity method - 1,165
Acquisition of property, plant and equipment (754,473 ) (179,652 )
Proceeds from disposal of property, plant and equipment 130,313 98,371
Acquisition of intangible assets (4,390 ) (8,938 )
Proceeds from disposal of foreclosed assets - 67,842
Acquisition of right‑of‑use assets (21,884 ) (12,346 )
Proceeds from disposal of right‑of‑use assets 4,543 20,841
Net cash flows used in investing activities (12,426,299 ) (5,354,022 )
Cash flows from financing activities:

Distribution of cash dividend (7,087,782 ) (6,109,712 )
Increase capital in cash -
14,989,161
Change in non‑controlling interests 1,848,168 (183,450 )
Payment of lease liabilities (661,530 ) (600,074 )
Other financing activities 952 623
Net cash flows (used in) provided by financing activities (5,900,192 ) 8,096,548
Effect of exchange rate changes on cash and cash equivalents (262,677 ) (64,229 )
Net increase in cash and cash equivalents 13,577,743 14,136,259
Cash and cash equivalents at beginning of period 32,796,805 18,660,546
Cash and cash equivalents at end of period $ 46,374,548 32,796,805
147
Notes to Consolidated Financial Statements
For the years ended December 31, 2021 and 2020
(Expressed in Thousands of New Taiwan Dollars, Unless Otherwise Specified)
(1) Company history

Chailease Holding Company Limited (the “Company”) is an investment holding company, which was founded on
December 24, 2009 under the Company Act of Cayman Islands. The Company has been listed on the Main Board of
the Taiwan Stock Exchange Corporation (TWSE) since December 13, 2011.
The Company and its subsidiaries ( "the Group") were engaged primarily in providing various services of leasing and
financing.
(2) Approval date and procedures of the consolidated financial statements

The consolidated financial statements were authorized for issuance by Audit Committee and Board of Directors on
February 25, 2022.
(3) New standards, amendments and interpretations adopted:

(a) The impact of the International Financial Reporting Standards (“IFRSs”) endorsed by the Financial Supervisory
Commission, R.O.C. which have already been adopted.
The Group has initially adopted the following new amendments, which do not have a significant impact on its
consolidated financial statements, from January 1, 2021:
● Amendments to IFRS 4 “Extension of the Temporary Exemption from Applying IFRS 9”
● Amendments to IFRS 9, IAS39, IFRS7, IFRS 4 and IFRS 16 “Interest Rate Benchmark Reform—Phase 2”
The Group has initially adopted the following new amendments, which do not have a significant impact on its
consolidated financial statements, from April 1, 2021:
● Amendments to IFRS 16 “Covid‑19‑Related Rent Concessions beyond June 30, 2021”
(b) The impact of IFRS issued by the FSC but not yet effective
The Group assesses that the adoption of the following new amendments, effective for annual period beginning on
January 1, 2022, would not have a significant impact on its consolidated financial statements:
● Amendments to IAS 16 “Property, Plant and Equipment － Proceeds before Intended Use”
● Amendments to IAS 37 “Onerous Contracts － Cost of Fulfilling a Contract”
● Annual Improvements to IFRS Standards 2018–2020
● Amendments to IFRS 3 “Reference to the Conceptual Framework”
(c) The impact of IFRS issued by IASB but not yet endorsed by the FSC
The following new and amended standards, which may be relevant to the Group, have been issued by the
International Accounting Standards Board (IASB), but have yet to be endorsed by the FSC:
Standards or Interpretations Content of amendment Effective date per IASB
Amendments to IAS 1 The amendments aim to promote consistency in applying the January 1, 2023
“Classification of Liabilities as requirements by helping companies determine whether, in the
Current or Non‑current” statement of balance sheet, debt and other liabilities with an uncertain
settlement date should be classified as current (due or potentially due
to be settled within one year) or non‑current. The amendments include
clarifying the classification requirements for debt a company might
settle by converting it into equity.
Amendments to IAS 12 “Deferred The amendments narrowed the scope of the recognition exemption so January 1, 2023
Tax related to Assets and that it no longer applies to transactions that, on initial recognition, give
Liabilities arising from a Single rise to equal taxable and deductible temporary differences.
Transaction”
The Group is evaluating the impact of its initial adoption of the abovementioned standards or interpretations on
its consolidated financial position and consolidated financial performance. The results thereof will be disclosed
when the Group completes its evaluation.
148
The Group does not expect the following other new and amended standards, which have yet to be endorsed by
the FSC, to have a significant impact on its consolidated financial statements:
● Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets Between an Investor and Its Associate or
Joint Venture”

● IFRS 17 “ Insurance Contracts” and amendments to IFRS 17 “ Insurance Contracts”
● Amendments to IAS 1 “Disclosure of Accounting Policies”
● Amendments to IAS 8 “Definition of Accounting Estimates”
(4) Summary of significant accounting policies

The significant accounting policies presented in the consolidated financial statements are summarized below. Except
for those specifically indicated, the following accounting policies were applied consistently throughout the periods
presented in the consolidated financial statements.
(a) Statement of compliance
These consolidated financial statements have been prepared in accordance with the Regulations Governing
the Preparation of Financial Reports by Securities Issuers (hereinafter referred to “the Regulations”) and the
International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC
Interpretations endorsed and issued into effect by the Financial Supervisory Commission, R.O.C.
(b) Basis of preparation
1. Basis of measurement
The consolidated financial statements have been prepared on historical cost basis except for the following
material accounts in the statement of financial position:
1) Financial assets at fair value through profit or loss are measured at fair value;
2) Financial assets at fair value through other comprehensive income are measured at fair value;
3) Hedge financial instruments are measured at fair value;
4) The defined benefit liabilities (assets) are measured at fair value of plan assets, less the present value of the
defined benefit obligation, limited as explained in Note 4(n).
2. Functional and presentation currency
The functional currency of each entity of the Group is determined based on the primary economic environment
in which the entity operates. The Group consolidated financial statements are presented in New Taiwan Dollar,
which is the Company’s functional currency. Unless otherwise specified, all financial information presented in
New Taiwan Dollar has been rounded to the nearest thousand.
(c) Basis of consolidation
1. Principle of preparation of the consolidated financial statements
The consolidated financial statements comprise the Company and its subsidiaries. The Group ‘controls’ an entity
when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to
affect those returns through its power over the entity.
The financial statements of the subsidiaries are included in the consolidated financial statements from the date
on which control commences until the date on which control ceases. Intra‑group balances and transactions,
and any unrealized income and expenses arising from Intra‑group transactions, are eliminated in preparing
the consolidated financial statements. The Group attributes the profit or loss and each component of other
comprehensive income to the owners of the parent and to the non‑controlling interests, even if this results in
the non‑controlling interests having a deficit balance.
The Group prepares consolidated financial statements using uniform accounting policies for like transactions
and other events in similar circumstances.
Changes in the Group’s ownership interest in a subsidiary that do not result in a loss of control are accounted for
as equity transactions. Any difference between the amount by which the non‑controlling interests are adjusted
and the fair value of the consideration paid or received will be recognized directly in equity, and the Group will
attribute it to the owners of the parent.
149
2. List of subsidiaries in the consolidated financial statements
Primary Shareholding Ratio
Investor Name of Subsidiary Business 2021.12.31 2020.12.31 Note
The Company Chailease International Investment 100.00% 100.00%
Company (Malaysia)
Limited
〞 Golden Bridge (B.V.I.) Investment 100.00% 100.00%
Corp.
〞 Chailease International Installment sales, leasing 100.00% 100.00%
Financial Services Co., overseas and financial
Ltd. consulting
〞 Chailease International Investment 100.00% 100.00%
Company (Hong Kong)
Limited
〞 Chailease International Leasing 100.00% 100.00%
Financial Services
(Liberia) Corp.
Financial Services
(Labuan) Co., Ltd.
Fortune Corp.
(Liberia)
〞 Chailease International Financing 100.00% 100.00%
Financial Services
(Singapore) Pte. Ltd.
Chailease International Chailease Bright Co., Ship leasing 100.00% - % The subsidiary
Financial Services (Liberia) Ltd. business was established
Corp. on August 4,
2021.
〞 Chailease Virtue Co., Ship leasing 100.00% - % The subsidiary
Ltd. business was established
on August 4,
2021.
〞 Chailease Cherish Co., Ship leasing 100.00% - % The subsidiary
Ltd. business was established
on August 4, 2021,
and was invested
on December 15,
2021.
Golden Bridge (B.V.I.) My Leasing (Mauritius) Investment 100.00% 100.00%
Corp. Corp.
My Leasing (Mauritius) Chailease International Leasing 97.89% 97.89%
Corp. Finance Corporation
My Leasing (Mauritius) Corp. Chailease Finance Leasing 100.00% 100.00%
and Chailease International International Corp.
Finance Corporation
Chailease International Finance Chailease International Trading 100.00% 100.00%
Corporation Corp.
〞 Jirong Real Estate Co., House property leasing and 100.00% 100.00%
Ltd. management
〞 Chailease International Factoring 100.00% 100.00%
Commercial Factoring
Corporation
〞 Chailease Factoring 100.00% - % The subsidiary
Commercial Factoring was established
Corporation on December 3,
2021.
150
Chailease International Chailease International Consulting, aircraft leasing 100.00% 100.00%

Company (Malaysia) Company (UK) and investment
Limited Limited
〞 Chailease Berjaya Credit Installment sales 70.00% 70.00%
Sdn. Bhd.
〞 Chailease Royal Leasing Leasing 60.00% 60.00%
Plc.
〞 Chailease Berjaya Leasing and 63.08% 63.08%
Finance Corporation financing
〞 Chailease Royal Finance Financing 60.00% 60.00%
Plc.
〞 Chailease Capital Investment 49.00% 49.00%
(Thailand) Co., Ltd.
〞 Chailease Royal Insurance brokers 60.00% - % Chailease
Insurance Broker Plc. International
Company (Malaysia)
Limited invested
in this subsidiary
on January 7,
2021.
Chailease International Chailease Finance Co., Installment sales, leasing, 100.00% 100.00%
Company (UK) Ltd. and factoring
Limited
Chailease International PT Chailease Indonesia Financing 75.00% 75.00%
Company (Hong Kong) Finance
Limited
〞 PT Chailease Finance Financing 85.00% - % Chailease
Indonesia International
Company (Hong
Kong) Limited
invested in this
subsidiary on August
31, 2021.
〞 Chailease Management Consulting 100.00% 100.00%
Consulting Co.,
Limited
Chailease Berjaya Credit Sdn. Chailease Agency Sdn. Insurance brokers 100.00% 100.00%
Bhd. Bhd.
〞 Chailease Services Sdn. Insurance brokers 100.00% 100.00%
Bhd.
Chailease Finance Co., Fina Finance & Trading Installment sales, trading, 100.00% 100.00%
Ltd. Co., Ltd. and factoring
〞 Chailease Specialty Installment sales 100.00% 100.00%
Finance Co., Ltd.
Chailease International Asia Sermkij Leasing Installment sales of 50.41% 49.99%
Company (Malaysia) Limited, Public Co., Ltd. automobiles
Chailease Capital (Thailand)
Co., Ltd. and Chailease Finance
Co., Ltd.
Chailease Finance Co., Chailease Finance (B.V.I.) Installment sales, leasing - % 100.00% The subsidiary has
Ltd. Company, Ltd. overseas, and financial been approved to
consulting be liquidated on
December 27, 2021.
The liquidation is in
progress.
151
Leasing Company
Limited (Vietnam)
〞 Chailease International Trading 100.00% 100.00%
Trading Company
Limited (Vietnam)
〞 Chailease Auto Rental Leasing 100.00% 100.00%
Co., Ltd.
〞 Chailease Insurance Personal and property 100.00% 100.00%
Brokers Co., Ltd. insurance brokers
〞 Chailease Cloud Service Software of cloud products, 100.00% 100.00%
Co., Ltd. leasing, and installment
sales
〞 Chailease Finance Special purpose - % - % The subsidiary was
Securitization Trust entity established on
2019 December 11, 2019.
(Note a)
〞 Yun Tang Inc. Solar power business 100.00% 100.00%
〞 Chailease Energy Solar power business 100.00% 100.00%
Integration Co., Ltd
〞 Chailease Power Solar power business 100.00% 100.00%
Technology Co., Ltd.
〞 Chung Cheng Energy Solar power business 100.00% 100.00%
Integration Co., Ltd.
〞 Ho Lien Energy Solar power business 100.00% 100.00%
〞 Tai Yuan Energy Solar power business 100.00% 100.00%
〞 Chung Ho Energy Solar power business 100.00% 100.00%
〞 Chung Yen Energy Solar power business 100.00% 100.00%
〞 TUNG FENG INC. Solar power business 100.00% 100.00%
〞 He To Energy Integration Solar power business 100.00% 100.00% The subsidiary
Co., Ltd. was established
on November 2,
2020.
Chailease Finance Co., Chung Yu Energy Solar power business 100.00% 100.00% The subsidiary
Ltd. Integration Co., Ltd. was established
on November 2,
2020.
〞 Jung Yu Energy Solar power business 100.00% 100.00% The subsidiary
Integration Co., Ltd. was established
on November 3,
2020.
〞 Chung Wei Energy Solar power business 100.00% 100.00% The subsidiary
Integration Co., Ltd. was established
on November 2,
2020.
〞 TUNG CHING ENERGY Solar power business 100.00% - % Chailease Finance
TECHNOLOGY INC. Co., Ltd. invested
this subsidiary
on February 18,
2021.
152
Chailease Power Technology CHU CHIANG SOLAR Solar power business 100.00% - % Chailease Power

Co., Ltd. ENERGY INC. Technology Co.,
Ltd. invested in
this subsidiary
on September 6,
2021.
Jung Yu Energy Integration Co., Chung Ming Co., Ltd. Solar power business 100.00% - % The subsidiary was
Ltd. established on June
28, 2021.
〞 Chung Yao Co., Ltd. Solar power business 100.00% - % The subsidiary was
established on June
29, 2021.
〞 Yao Jih Co., Ltd. Solar power business 100.00% - % The subsidiary
was established
on August 13,
2021.
〞 Ho Hsuan Co., Ltd. Solar power business 100.00% - % The subsidiary
was established
on August 16,
2021.
〞 Hsia Ching Co., Ltd. Solar power business 100.00% - % The subsidiary
was established
on August 26,
2021.
Chung Ho Energy Integration Tien Hsing Integration Solar power business 100.00% - % Chung Ho Energy
Co., Ltd. Co., Ltd. Integration Co.,
Ltd. invested in this
subsidiary on August
27, 2021.
Ho Lien Energy Integration Co., Tien Sin Intelligent Solar power business 80.00% - % Ho Lien Energy
Ltd. Green Energy Co., Integration Co.,
Ltd. Ltd. invested in this
subsidiary on April
23, 2021.
〞 Tien Jen Energy Co., Solar power business 80.00% - % Ho Lien Energy
Ltd. Integration Co.,
subsidiary on April
23, 2021.
〞 Tien Chu Energy Co., Solar power business 80.00% - % Ho Lien Energy
Ltd Integration Co.,
subsidiary on April
23, 2021.
Ho Lien Energy Integration Co., Tien Jui Energy Co., Solar power business 80.00% - % Ho Lien Energy
Ltd. Ltd. Integration Co.,
subsidiary on April
23, 2021.
〞 Tien Ying Energy Co., Solar power business 80.00% - % Ho Lien Energy
subsidiary on April
23, 2021.
Fina Finance & Trading Co., Chailease Consumer Factoring, trading‑in, 100.00% 100.00%
Ltd. Finance Co., Ltd management, and valuation
on accounts receivable;
installment sales; financial
instrument
153
〞 Chailease Credit Services Installment sales and 100.00% 100.00%
Co., Ltd. leasing
The Company and Chailease Grand Pacific Holdings Financing leasing, real estate, 100.00% 100.00%
Finance Co., Ltd. Corp. and mortgage
Chailease Consumer Finance Chuang Ju Limited Installment sales and 100.00% 100.00%
Co., Ltd. and Chailease Credit Partnership leasing
Services Co., Ltd.
Chailease Specialty Finance Sing Chuang Limited Installment sales and 100.00% 100.00%
Co., Ltd. and Chailease Cloud Partnership leasing
Service Co., Ltd.
Grand Pacific Holdings Grand Pacific Financing Financing, leasing and 100.00% 100.00%
Corp. Corp. (California) financial consulting
〞 Grand Pacific Main Street Real estate 100.00% 100.00%
Development, Inc. development
Asia Sermkij Leasing Public Co., Bangkok Grand Pacific Leasing and financing 99.99% 99.99%
Ltd. Lease Public Company consulting
Limited
〞 SK Insurance Broker Co., Insurance brokers 100.00% 100.00%
Ltd.
Note a: For purposes of trading and investment, the Group set up a number of special purpose entities (SPE) in
which it does not have any direct or indirect shareholding.
These SPEs are consolidated if the substance of the Group’s relationship with the SPEs and the
assessment of their risks and rewards, disclosed that the Group has control over the SPEs. The control of
an SPE by the Group may exists if:
(i) the Group has power over the SPE;
(ii) the Group has exposure, or rights, to variable returns from its involvement with the SPE;
(iii) the Group has ability to use its power over to affect the amount of the SPE’s returns.
3.List of subsidiaries which are not included in the consolidated financial statements: None.
154
(d) Foreign Currencies
1. Foreign currency transactions
Transactions in foreign currencies are translated into the respective functional currencies of Group entities at the

exchange rates at the dates of the transactions. At the end of each subsequent reporting period, monetary items
denominated in foreign currencies are translated into the functional currencies using the exchange rate at that
date. Non‑monetary items denominated in foreign currencies that are measured at fair value are translated into
the functional currencies using the exchange rate at the date that the fair value was determined. Nonmonetary
items denominated in foreign currencies that are measured based on historical cost are translated using the
exchange rate at the date of the transaction.
Exchange differences are generally recognized in profit or loss, except for those differences relating to the
following, which are recognized in other comprehensive income:
1) an investment in equity securities designated as at fair value through other comprehensive income;
2) a financial liability designated as a hedge of the net investment in a foreign operation to the extent that the
hedge is effective; or
3) qualifying cash flow hedges to the extent that the hedges are effective.
2. Foreign operations
The assets and liabilities of foreign operations, including goodwill and fair value adjustments arising on
acquisition, are translated into the presentation currency at the exchange rates at the reporting date. The
income and expenses of foreign operations are translated into the presentation currency at average exchange
rate. Exchange differences are recognized in other comprehensive income.
When a foreign operation is disposed of such that control, significant influence or joint control is lost, the
cumulative amount in the translation reserve related to that foreign operation is reclassified to profit or loss
as part of the gain or loss on disposal. When the Group disposes of any part of its interest in a subsidiary that
includes a foreign operation while retaining control, the relevant proportion of the cumulative amount is
reattributed to non‑controlling interest. When the Group disposed of only part of investment in an associate or
joint venture that includes a foreign operation while retaining significant influence or joint control, the relevant
proportion of the cumulative amount is reclassified to profit or loss.
When the settlement of a monetary receivable from or payable to a foreign operation is neither planned nor
likely in the foreseeable future, exchange differences arising from such a monetary item that are considered to
form part of the net investment in the foreign operation and are recognized in other comprehensive income.
(e) Classification of current and non‑current assets and liabilities
An asset is classified as current under one of the following criteria, and all other assets are classified as non‑current.
1. It is expected to be realized, or intended to be sold or consumed, in the normal operating cycle;
2. It is held primarily for the purpose of trading;
3. It is expected to be realized within twelve months after the reporting period; or
4. The asset is cash or a cash equivalent (as defined in IAS 7) unless the asset is restricted from being exchanged or
used to settle a liability for at least twelve months after the reporting period.
A liability is classified as current under one of the following criteria, and all other liabilities are classified as
non‑current.
An entity shall classify a liability as current when:
1. It is expected to be settled in the normal operating cycle;
2. It is held primarily for the purpose of trading;
3. It is due to be settled within twelve months after the reporting period; or
4. The Group does not have an unconditional right to defer settlement of the liability for at least twelve months
after the reporting period. Terms of a liability that could, at the option of the counterparty, result in its settlement
by issuing equity instruments do not affect its classification.
(f ) Cash and cash equivalents
Cash comprises cash on hand and demand deposit. Cash equivalents are short‑term, highly liquid investments that
are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. Time
deposits which meet the above definition and are held for the purpose of meeting short‑term cash commitments
rather than for investment or other purposes should be recognized as cash equivalents.
155
Bank overdrafts that are repayable on demand and form an integral part of the Group's cash management are
included as a component of cash and cash equivalents for the purpose of the consolidated statement of cash
flows.
(g) Financial instruments
Trade receivables and debt securities issued are initially recognized when they are originated. All other financial
assets and financial liabilities are initially recognized when the Group becomes a party to the contractual provisions
of the instrument. A financial asset (unless it is a trade receivable without a significant financing component) or
financial liability is initially measured at fair value plus, for an item not at fair value through profit or loss (FVTPL),
transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant
financing component is initially measured at the transaction price.
1. Financial assets
All regular way purchases or sales of financial assets are recognized and derecognized on a trade date basis.
On initial recognition, a financial asset is classified as measured at amortized cost; fair value through other
comprehensive income (FVOCI) – debt investment; FVOCI – equity investment; or FVTPL. Financial assets are not
reclassified subsequent to their initial recognition unless the Group changes its business model for managing
financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting
period following the change in the business model.
1) Financial assets measured at amortized cost
A financial asset is measured at amortized cost if it meets both of the following conditions and is not
designated as at FVTPL:
‧ it is held within a business model whose objective is to hold assets to collect contractual cash flows; and
‧ its contractual terms give rise on specified dates to cash flows that are solely payments of principal and
interest on the principal amount outstanding.
These assets are subsequently measured at amortized cost, which is the amount at which the financial asset is
measured at initial recognition, plus/minus, the cumulative amortization using the effective interest method,
adjusted for any loss allowance. Interest income, foreign exchange gains and losses, as well as impairment, are
recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss.
2) Fair value through other comprehensive income (FVOCI )
A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as
at FVTPL:
‧ it is held within a business model whose objective is achieved by both collecting contractual cash flows and
selling financial assets; and
‧ its contractual terms give rise on specified dates to cash flows that are solely payments of principal and
interest on the principal amount outstanding.
On initial recognition of an equity investment that is not held for trading, the Group may irrevocably elect to
present subsequent changes in the investment’s fair value in other comprehensive income. This election is
made on an instrument‑by‑instrument basis.
Debt investments at FVOCI are subsequently measured at fair value. Interest income calculated using the
effective interest method, foreign exchange gains and losses and impairment are recognized in profit or loss.
Other net gains and losses are recognized in other comprehensive income. On derecognition, gains and losses
accumulated in other comprehensive income are reclassified to profit or loss.
Equity investments at FVOCI are subsequently measured at fair value. Dividends are recognized as income in
profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net
gains and losses are recognized in other comprehensive income and are never reclassified to profit or loss.
Dividend income is recognized in profit or loss on the date on which the Group’s right to receive payment is
established.
3) Fair value through profit or loss (FVTPL)
All financial assets not classified as amortized cost or FVOCI described as above are measured at FVTPL,
including derivative financial assets. Trade receivables that the Group intends to sell immediately or in
the near term are measured at FVTPL; however, they are included in the ‘trade receivables’ line item. On
initial recognition, the Group may irrevocably designate a financial asset, which meets the requirements
to be measured at amortized cost or at FVOCI, as at FVTPL if doing so eliminates or significantly reduces an
accounting mismatch that would otherwise arise.
156
These assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend
income, are recognized in profit or loss.
4) Business model assessment

The Group makes an assessment of the objective of the business model in which a financial asset is held at
portfolio level because this best reflects the way the business is managed and information is provided to
management. The information considered includes:
‧ the stated policies and objectives for the portfolio and the operation of those policies in practice. These
include whether management’s strategy focuses on earning contractual interest income, maintaining a
particular interest rate profile, matching the duration of the financial assets to the duration of any related
liabilities or expected cash outflows or realizing cash flows through the sale of the assets;
‧ how the performance of the portfolio is evaluated and reported to the Group’s management;
‧ the risks that affect the performance of the business model (and the financial assets held within that
business model) and how those risks are managed;
‧ how managers of the business are compensated ─ e.g. whether compensation is based on the fair value of
the assets managed or the contractual cash flows collected; and
‧ the frequency, volume and timing of sales of financial assets in prior periods, the reasons for such sales and
expectations about future sales activity.
Transfers of financial assets to third parties in transactions that do not qualify for derecognition are not
considered sales for this purpose, and are consistent with the Group’s continuing recognition of the assets.
Financial assets that are held for trading or are managed and whose performance is evaluated on a fair value
basis are measured at FVTPL.
5) Assessment whether contractual cash flows are solely payments of principal and interest
For the purposes of this assessment, ‘principal’ is defined as the fair value of the financial assets on initial
recognition. ‘Interest’ is defined as consideration for the time value of money and for the credit risk associated
with the principal amount outstanding during a particular period of time and for other basic lending risks and
costs, as well as a profit margin.
In assessing whether the contractual cash flows are solely payments of principal and interest, the Group
considers the contractual terms of the instrument. This includes assessing whether the financial asset contains
a contractual term that could change the timing or amount of contractual cash flows such that it would not
meet this condition. In making this assessment, the Group considers:
‧ contingent events that would change the amount or timing of cash flows;
‧ terms that may adjust the contractual coupon rate, including variable rate features;
‧ prepayment and extension features; and
‧ terms that limit the Group’s claim to cash flows from specified assets (e.g. non‑recourse features).
6) Impairment of financial assets
The Group recognizes loss allowances for expected credit losses (ECL) on financial assets measured at
amortized cost (including cash and cash equivalents, amortized costs, notes and accounts receivable, other
receivable, leases receivable, guarantee deposit paid and other financial assets), debt investments measured
at FVOCI.
The Group measures loss allowances at an amount equal to lifetime expected credit loss (ECL), except for the
following which are measured as 12‑month ECL:
‧ accounts receivables and debt securities that are determined to have low credit risk at the reporting date;
and
‧ other debt securities and bank balances for which credit risk (i.e. the risk of default occurring over the
expected life of the financial instrument) has not increased significantly since initial recognition.
Lifetime ECLs are the ECLs that result from all possible default events over the expected life of a financial
instrument.
12‑month ECLs are the portion of ECLs that result from default events that are possible within the 12 months
after the reporting date (or a shorter period if the expected life of the instrument is less than 12 months).
The maximum period considered when estimating ECL is the maximum contractual period over which the
Group is exposed to credit risk.
157
When determining whether the credit risk of a financial asset has increased significantly since initial
recognition and when estimating ECL, the Group considers reasonable and supportable information that
is relevant and available without undue cost or effort. This includes both quantitative and qualitative
information and analysis based on the Group’s historical experience and informed credit assessment as well as
forward‑looking information.
ECLs are a probability‑weighted estimate of credit losses. Credit losses are measured as the present value of all
cash shortfalls. (i.e. the difference between the cash flows due to the Group in accordance with the contract
and the cash flows that the Group expects to receive). ECLs are discounted at the effective interest rate of the
financial asset.
At each reporting date, the Group assesses whether financial assets carried at amortized cost and debt
securities at FVOCI are credit‑impaired. A financial asset is ‘credit‑impaired’ when one or more events that have
a detrimental impact on the estimated future cash flows of the financial asset have occurred. Evidence that a
financial assets is credit‑impaired includes the following observable data:
‧ significant financial difficulty of the borrower or issuer;
‧ a breach of contract such as a default or delay of payments;
‧ the lender of the borrower, for economic or contractual reasons relating to the borrower's financial difficulty,
having granted to the borrower a concession that the lender would not otherwise consider;
‧ it is probable that the borrower will enter bankruptcy or other financial reorganization; or
‧ the disappearance of an active market for a security because of financial difficulties.
Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount
of the assets. For debt securities at FVOCI, the loss allowance is charge to profit or loss and is recognized in
other comprehensive income instead of reducing the carrying amount of the asset.
The gross carrying amount of a financial asset is written off when the Group has no reasonable expectations of
recovering a financial asset in its entirety or a portion thereof. For corporate customers, the Group individually
makes an assessment with respect to the timing and amount of write‑off based on whether there is a
reasonable expectation of recovery. The Group expects no significant recovery from the amount written off.
However, financial assets that are written off could still be subject to enforcement activities in order to comply
with the Group’s procedures for recovery of amounts due.
7) Derecognition of financial assets
The Group derecognizes a financial asset when the contractual rights to the cash flows from the financial asset
expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially
all of the risks and rewards of ownership of the financial asset are transferred or in which the Group neither
transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the
financial asset.
The Group enters into transactions whereby it transfers assets recognized in its statement of balance sheet,
but retains either all or substantially all of the risks and rewards of the transferred assets. In these cases, the
transferred assets are not derecognized.
2. Financial liabilities and equity instruments
1) Classification of debt or equity
Debt and equity instruments issued by the Group are classified as financial liabilities or equity in accordance
with the substance of the contractual arrangements and the definitions of a financial liability and an equity
instrument.
2) Equity instrument
An equity instrument is any contract that evidences residual interest in the assets of an entity after deducting
all of its liabilities. Equity instruments issued are recognized as the amount of consideration received, less the
direct cost of issuing.
3) Financial liabilities
Financial liabilities are classified as measured at amortized cost or FVTPL. A financial liability is classified as
at FVTPL if it is classified as held‑for‑trading, it is a derivative or it is designated as such on initial recognition.
Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest
expense, are recognized in profit or loss.
Other financial liabilities are subsequently measured at amortized cost using the effective interest method.
Interest expense and foreign exchange gains and losses are recognized in profit or loss. Any gain or loss on
derecognition is also recognized in profit or loss.
158
4) Derecognition of financial liabilities
The Group derecognizes a financial liability when its contractual obligations are discharged or cancelled, or
expire. The Group also derecognizes a financial liability when its terms are modified and the cash flows of the
modified liability are substantially different, in which case a new financial liability based on the modified terms

is recognized at fair value.
On derecognition of a financial liability, the difference between the carrying amount of a financial liability
extinguished and the consideration paid (including any non‑cash assets transferred or liabilities assumed) is
recognized in profit or loss.
3. Derivative financial instruments and hedge accounting
The Group holds derivative financial instruments to hedge its foreign currency and interest rate exposures.
Derivatives are initially measured at fair value. Subsequent to initial recognition, derivatives are measured at fair
value, and changes therein are generally recognized in profit or loss.
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, cash flow hedges, or hedges of
net investments in foreign operations. Hedges of foreign exchange risk on firm commitments are accounted for
as cash flow hedges.
At inception of designated hedging relationships, the Group documents the risk management objective and
strategy for undertaking the hedge. The Group also documents the economic relationship between the hedged
item and the hedging instrument, including whether the changes in cash flows of the hedged item and hedging
instrument are expected to offset each other.
1) Fair value hedges
The fair value change on qualifying hedging instruments is recognized in profit or loss except when the
hedging instrument hedges an equity instrument designated at FVOCI in which case it is recognized in other
comprehensive income.
The carrying amount of a hedged item not already measured at fair value is adjusted for the fair value change
attributable to the hedged risk with a corresponding entry in profit or loss. For debt instruments measured
at FVOCI, the carrying amount is not adjusted as it is already at fair value, but the hedging gain or loss is
recognized in profit or loss instead of other comprehensive income. When the hedged item is an equity
instrument designated at FVOCI, the hedging gain or loss remains in other comprehensive income to match
that of the hedging instrument.
Where hedging gains or losses are recognized in profit or loss, they are recognized in the same line as the
hedged item.
2) Cash flow hedges
The effective portion of changes in the fair value of derivatives and other qualifying hedging instruments
that are designated and qualify as cash flow hedges is recognized in other comprehensive income and
accumulated under ‘other equity ‑ gains (losses) on hedging instruments, limited to the cumulative change in
fair value of the hedged item from inception of the hedge. The gain or loss relating to the ineffective portion is
recognized immediately in profit or loss.
The Group designates the changes in fair value of the spot element of the cross currency swap and interest
rate swap as the hedging instrument in cash flow hedging relationships. The change in fair value of the
forward element of the forward exchange contracts is separately accounted for as a cost of hedging and
accumulated in a separate component within equity.
Amounts previously recognized in other comprehensive income and accumulated in equity are reclassified
to profit or loss in the periods when the hedged item affects profit or loss, in the same line as the recognized
hedged item. However, when the hedged forecast transaction results in the recognition of a non‑financial
asset or a non‑financial liability, the gains and losses previously recognized in other comprehensive income
and accumulated in equity are removed from equity and included in the initial measurement of the cost of
the non‑financial asset or non‑financial liability. Furthermore, if the Group expects that some or all of the loss
accumulated in other equity will not be recovered in the future, that amount is immediately reclassified to
profit or loss.
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If the hedge no longer meets the criteria for hedge accounting or the hedging instrument is sold, expires,
is terminated or is exercised, then hedge accounting is discontinued prospectively. The discontinuation is
accounted for prospectively. When hedge accounting for cash flow hedges is discontinued, the amount that
has been accumulated in other equity remains in equity until, for a hedge of a transaction resulting in the
recognition of a non‑financial item, it is included in the non‑financial item’s cost on its initial recognition or, for
other cash flow hedges, it is reclassified to profit or loss in the same period or periods as the hedged expected
future cash flows affect profit or loss. If the hedged future cash flows are no longer expected to occur, then the
amounts that have been accumulated in other equity are immediately reclassified to profit or loss.
3) Hedge of a net investment in a foreign operation
Hedges of net investments in foreign operations are accounted for similarly to cash flow hedges. Any gain or
loss on the foreign currency forward contracts relating to the effective portion of the hedge is recognized in
other comprehensive income and accumulated in ‘other equity ‑ gains (losses) on hedging instruments. The
gain or loss relating to the ineffective portion is recognized immediately in profit or loss.
Gains and losses on the hedging instrument accumulated in other equity are reclassified to profit or loss on
the disposal or partial disposal of the foreign operation.
(h) Investment in associates
Associates are those entities in which the Group has significant influence, but not control or joint control, over their
financial and operating policies.
Investments in associates are accounted for using the equity method and are recognized initially at cost. The
cost of the investment includes transaction costs. The carrying amount of the investment in associates includes
goodwill arising from the acquisition less any accumulated impairment losses.
The consolidated financial statements include the Group’s share of the profit or loss and other comprehensive
income of those associates, after adjustments to align their accounting policies with those of the Group, from the
date on which significant influence commences until the date on which significant influence ceases. The Group
recognizes any changes of its proportionate share in the investee within capital surplus, when an associate’s equity
changes due to reasons other than profit and loss or comprehensive income, which did not result in changes in
actual significant influence.
Gains and losses resulting from transactions between the Group and an associate are recognized only to the extent
of unrelated Group’s interests in the associate.
When the Group’s share of losses of an associate equals or exceeds its interests in an associate, it discontinues
recognizing its share of further losses. After the recognized interest is reduced to zero, additional losses are
provided for, and a liability is recognized, only to the extent that the Group has incurred legal or constructive
obligations or made payments on behalf of the associate.
(i) Property, plant, and equipment
1. Recognition and measurement
Items of property, plant and equipment are measured at cost, which includes capitalized borrowing costs, less
accumulated depreciation and any accumulated impairment losses.
If significant parts of an item of property, plant and equipment have different useful lives, they are accounted for
as separate items (major components) of property, plant and equipment.
Any gain or loss on disposal of an item of property, plant and equipment is recognized in profit or loss.
2. Subsequent expenditure
Subsequent expenditure is capitalized only if it is probable that the future economic benefits associated with the
expenditure will flow to the Group.
3. Depreciation
Depreciation is calculated on the cost of an asset less its residual value and is recognized in profit or loss
on a straight‑line basis over the estimated useful lives of each component of an item of property, plant and
equipment.
Land is not depreciated.
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The estimated useful lives of property, plant and equipment for current and comparative periods are as follows:
1) Buildings 20 years~60 years
2) Transportation equipment 3 years~6 years

3) Miscellaneous equipment 4 years~28 years
4) Assets held for lease 1 year~ 12 years
5) Leasehold improvements 5 years
Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted if
appropriate.
(j) Leases
At inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is, or contains,
a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for
consideration.
1. As a lessee
The Group recognizes a right‑of‑use asset and a lease liability at the lease commencement date. The right‑of‑use
asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease
payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of
costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is
located, less any lease incentives received.
The right‑of‑use asset is subsequently depreciated using the straight‑line method from the commencement date
to the earlier of the end of the useful life of the right‑of‑use asset or the end of the lease term. In addition, the
right‑of‑use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements
of the lease liability.
The lease liability is initially measured at the present value of the lease payments that are not paid at the
commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be reliably
determined, the Group’s incremental borrowing rate. Generally, the Group uses its incremental borrowing rate as
the discount rate.
Lease payments included in the measurement of the lease liability comprise the following:
1) Fixed payments, including in‑substance fixed payments;
2) Variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the
commencement date;
3) Amounts expected to be payable under a residual value guarantee; and
4) Payments for purchase or termination options that are reasonably certain to be exercised.
The lease liability is measured at amortized cost using the effective interest method. It is remeasured when:
1) There is a change in future lease payments arising from the change in an index or rate; or
2) There is a change in the Group’s estimate of the amount expected to be payable under a residual value
guarantee; or
3) There is charge in the lease term resulting from a change of its assessment on whether it will exercise an
option to purchase the underlying assets, or
4) There is a change of its assessment on whether it will exercise an extension or termination option; or
5) There is any lease modifications
When the lease liability is remeasured, other than lease modifications, a corresponding adjustment is made to
the carrying amount of the right‑of‑use asset, or in profit and loss if the carrying amount of the right‑of‑use asset
has been reduced to zero.
When the lease liability is remeasured to reflect the partial or full termination of the lease for lease modifications
that decrease the scope of the lease, the Group accounts for the remeasurement of the lease liability by
decreasing the carrying amount of the right‑of‑use asset to reflect the partial or full termination of the lease, and
recognize in profit or loss any gain or loss relating to the partial or full termination of the lease.
The Group presents right‑of‑use assets that do not meet the definition of investment and lease liabilities as a
separate line item respectively in the statement of financial position.
The Group has elected not to recognize right‑of‑use assets and lease liabilities for short‑term leases and leases
of low‑value assets. The Group recognizes the lease payments associated with these leases as an expense on a
straight‑line basis over the lease term.
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2. As a lessor
When the Group acts as a lessor, it determines at lease commencement whether each lease is a finance lease or
an operating lease. To classify each lease, the Group makes an overall assessment of whether the lease transfers
to the lessee substantially all of the risks and rewards of ownership incidental to ownership of the underlying
asset. If this is the case, then the lease is a finance lease; if not, then the lease is an operating lease. As part of
this assessment, the Group considers certain indicators such as whether the lease is for the major part of the
economic life of the asset.
When the Group is an intermediate lessor, it accounts for its interests in the head lease and the sub‑lease
separately. It assesses the lease classification of a sub‑lease with reference to the right‑of‑use asset arising from
the head lease. If a head lease is a short‑term lease to which the Group applies the exemption described above,
then it classifies the sub‑lease as an operating lease.
If an arrangement contains lease and non‑lease components, the Group applies IFRS15 to allocate the
consideration in the contract.
The Group recognizes a finance lease receivable at an amount equal to its net investment in the lease. Initial
direct costs, such as lessors to negotiate and arrange a lease, are included in the measurement of the net
investment. The interest income is recognized over the lease term based on a pattern reflecting a constant
periodic rate of return on the net investment in the lease. The Group recognizes lease payments received under
operating leases as income on a straight‑line basis over the lease term as part of ‘Rental revenue‑operating
leases’.
(k) Intangible assets
1. Recognition and measurement
Goodwill arising on the acquisition of subsidiaries is measured at cost, less accumulated impairment losses.
Other intangible assets are acquired by the Group and have finite useful lives are measured at cost less
accumulated amortization and any accumulated impairment losses.
2. Subsequent expenditure
Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the
specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill
and brands, is recognized in profit or loss as incurred.
3. Amortization
Amortization is calculated over the cost of the asset, less its residual value, and is recognized in profit or loss on
a straight‑line basis over the estimated useful lives of intangible assets, other than goodwill, from the date that
they are available for use.
Amortization methods, useful lives and residual values are reviewed at each reporting date and adjusted if
appropriate.
(l) Impairment of non‑financial assets
At each reporting date, the Group reviews the carrying amounts of its non‑financial assets (other than deferred tax
assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset’s
recoverable amount is estimated. Goodwill is tested annually for impairment.
For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows
from continuing use that are largely independent of the cash inflows of other assets or CGUs. Goodwill arising from
a business combination is allocated to CGUs or groups of CGUs that are expected to benefit from the synergies of
the combination.
The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. Value
in use is based on the estimated future cash flows, discounted to their present value using a pre‑tax discount rate
that reflects current market assessments of the time value of money and the risks specific to the asset or CGU.
An impairment loss is recognized if the carrying amount of an asset or CGU exceeds its recoverable amount.
Impairment losses are recognized in profit or loss. They are allocated first to reduce the carrying amount of any
goodwill allocated to the CGU, and then to reduce the carrying amounts of the other assets in the CGU on a pro
rata basis.
An impairment loss in respect of goodwill is not reversed. For other assets, an impairment loss is reversed only
to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been
determined, net of depreciation or amortization, if no impairment loss had been recognized.
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(m)Revenue
1. Sales revenue
Sales revenue is recognized when the control of the product has transferred, being when the products are

delivered to the customer, the customer has full discretion over the channel and price to sell the product, and
there is no unfulfilled obligation that could affect the customer’s acceptance of the products.
The Group engaged in the business of solar power generation. The Group signed several contracts with Taiwan
Power Company selling electric power. All contracts will expire 20 years after the date those generators has been
paralleled and the related power electric revenues have been recognized.
2. Installment sales revenue
The revenue from installment sales is calculated using ordinary sales method. Under this method, gross profit
between sales determined at normal selling price and cost of sales is recognized on selling date. The excess
installment sales over the sales determined at normal selling price is treated as unearned interest revenue,
which is subsequently recognized as interest revenue by using the interest method. Unearned interest revenue
is treated as a deduction item of installment sales receivable. The ownership of the property is transferred upon
receipt of the full amount of installment sales receivable.
3. Leasing business
Lease contracts are classified as capital or operating leases based on certain criteria, such as the lease terms, the
likelihood of collecting receivables under lease contracts, and future cost to be borne by the lessor. The revenues
generated from leasing business are interest revenue for capital leases and rental revenue for operating leases.
4. Loans receivable
Loans are recorded at its principal amount. Interest income is recognized on accrual basis. If the collectability of
interest receivable is in question, the recognition of interest income is deferred to the point of collection.
5. Accounting for factoring of accounts receivable
The Group is engaged in factoring of accounts receivable with or without recourse. Factoring of accounts
receivable is treated as a purchase if it meets the conditions described below, otherwise, it is treated as financing
of accounts receivable:
1) When the factoring transfers and surrenders all or part of the control over the financial assets, the factored
receivables are deemed to be reasonably collectable with no restrictions.
2) Control over transferred accounts receivable is deemed to have been transferred under all of the following
conditions:
A. The transferred accounts receivable are isolated from the transferor – put presumptively beyond the reach
of the transferor and its creditors, even in bankruptcy or other receivership situation.
B. Either (1) each transferee obtains the right – free of conditions that prevent the transferee from taking
advantage of that right – to pledge or exchange the transferred accounts receivable or (2) the transferee
is a qualifying special‑purpose entity and the holders of beneficial interests in that entity have the right
– free of conditions that prevent them from taking advantage of the right – to pledge or exchange those
interests.
C. The transferor does not maintain effective control over the transferred accounts receivable through (1)
an agreement that both entitle and obligates the transferor to repurchase or redeem them before their
maturity or (2) an agreement that entitles the transferor to repurchase or redeem transferred accounts
receivable that are not readily obtainable.
6. Fee and commission
Fee and commission income is earned from a range of services rendered by the Group to its customers, and
comprises income earned from services rendered over a period of time as well as transaction‑type services.
Fees earned from providing services over a period of time are recognized over the service period during which
the related service is provided or credit risk is undertaken. Fee and commission income from such services
comprises mainly loans, guarantees, and other management and advisory fees.
(n) Employee benefits
1. Defined contribution plans
Obligations for contributions to defined contribution plans are expensed as the related service is provided.
163
2. Defined benefit plans
The Group’s net obligation in respect of defined benefit plans is calculated by estimating the amount of future
benefit that employees have earned in the current and prior periods, discounting that amount and deducting
the fair value of the plan assets.
The calculation of defined benefit obligations is performed annually by a qualified actuary using the projected
unit credit method. When the calculation results in a potential asset for the Group, the recognized asset is limited
to the present value of economic benefits available in the form of any future refunds from the plan or reductions
in future contributions to the plan. To calculate the present value of economic benefits, consideration is given to
any applicable minimum funding requirements.
Remeasurements of the net defined benefit liability, which comprise actuarial gains and losses, the return on
plan assets (excluding interest) and the effect of the asset ceiling (if any, excluding interest), are recognized
immediately in other comprehensive income, and accumulated in retained earnings within equity. The Group
determines the net interest expense (income) on the net defined benefit liability (asset) for the period by
applying the discount rate used to measure the defined benefit obligation at the beginning of the annual period
to the then‑net defined benefit liability (asset). Net interest expense and other expenses related to defined
benefit plans are recognized in profit or loss.
When the benefits of a plan are changed or when a plan is curtailed, the resulting change in benefit that
relates to past service or the gain or loss on curtailment is recognized immediately in profit or loss. The Group
recognizes gains and losses on the settlement of a defined benefit plan when the settlement occurs.
(o) Income taxes
Income taxes comprise current taxes and deferred taxes. Except for expenses related to business combinations
or recognized directly in equity or other comprehensive income, all current and deferred taxes are recognized in
profit or loss.
Current taxes comprise the expected tax payables or receivables on the taxable profits (losses) for the year and any
adjustment to the tax payable or receivable in respect of previous years. The amount of current tax payables or
receivables are the best estimate of the tax amount expected to be paid or received, if any. It is measured using tax
rates enacted or substantively enacted at the reporting date.
Deferred taxes arise due to temporary differences between the carrying amounts of assets and liabilities for
financial reporting purposes and their respective tax bases. Deferred taxes are recognized except for the following:
1. temporary differences on the initial recognition of assets and liabilities in a transaction that is not a business
combination and that affects neither accounting nor taxable profits (losses) at the time of the transaction;
2. temporary differences related to investments in subsidiaries, associates and joint arrangements to the extent
that the Group is able to control the timing of the reversal of the temporary differences and it is probable that
they will not reverse in the foreseeable future; and
3. taxable temporary differences arising on the initial recognition of goodwill.
Deferred tax assets are recognized for the carry forward of unused tax losses, unused tax credits, and deductible
temporary differences to the extent that it is probable that future taxable profits will be available against which
they can be utilized. Deferred tax assets are reviewed at each reporting date, and are reduced to the extent
that it is no longer probable that the related tax benefits will be realized; such reductions are reversed when the
probability of future taxable profits improves.
Deferred taxes are measured at tax rates that are expected to be applied to temporary differences when they
reserve, using tax rates enacted or substantively enacted at the reporting date.
Deferred tax assets and liabilities are offset if the following criteria are met:
1. the Group has a legally enforceable right to set off current tax assets against current tax liabilities; and
2. the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation
authority on either:
1) the same taxable entity; or
2) different taxable entities which intend to settle current tax assets and liabilities on a net basis, or to realize
the assets and liabilities simultaneously, in each future period in which significant amounts of deferred tax
liabilities or assets are expected to be settled or recovered.
164
(p) Business combination
The Company accounts for business combinations using the acquisition method. The goodwill arising from an
acquisition is measured as the excess of (i) the consideration transferred (which is generally measured at fair value)
and (ii) the amount of non‑controlling interest in the acquiree, both over the identifiable net assets acquired at the

acquisition date. If the amount calculated above is a deficit balance, the Company recognized that amount as a
gain on a bargain purchase in profit or loss immediately after reassessing whether it has correctly identified all of
the assets acquired and all of the liabilities assumed.
All acquisition‑related transaction costs are expensed as incurred, except for the issuance of debt or equity
instruments.
For each business combination, the Group measures any non‑controlling interests in the acquiree either at
fair value or at the non‑controlling interest’s proportionate share of the acquiree’s identifiable net assets, if the
non‑controlling interests are present ownership interests and entitle their holders to a proportionate share of the
Group’s net assets in the event of liquidation. Other components of non‑controlling interests are measured at their
acquisition‑date fair values, unless another measurement basis is required by the IFRSs endorsed by the FSC.
(q) Earnings per share
The Group discloses the Company’s basic and diluted earnings per share attributable to ordinary shareholders
of the Company. Basic earnings per share is calculated on profit attributable to the ordinary shareholders of the
Company divided by the weighted average number of ordinary shares outstanding. Diluted earnings per share
is calculated as the profit attributable to ordinary shareholders of the Company divided by the weighted average
number of ordinary shares outstanding after adjustment for the effects of all potentially dilutive ordinary shares.
(r) Operating segments
An operating segment is a component of the Group that engages in business activities from which it may incur
revenues and incur expenses (including revenues and expenses relating to transactions with other components
of the Group). Operating results of the operating segment are regularly reviewed by the Group’s chief operating
decision maker to make decisions about resources to be allocated to the segment and assess its performance. Each
operating segment consists of standalone financial information.
(5) Significant accounting assumptions and judgments, and major sources of estimation uncertainty
The preparation of the consolidated financial statements in conformity with the IFRSs endorsed by the FSC requires
management to make judgments, estimates, and assumptions that affect the application of the accounting policies
and the reported amount of assets, liabilities, income, and expenses. Actual results may differ from these estimates.
The management continues to monitor the accounting estimates and assumptions. The management recognizes any
changes in accounting estimates during the period and the impact of those changes in accounting estimates in the
following period.
Information about judgments made in applying accounting policies that have the most significant effects on the
amounts recognized in the consolidated financial statements is as follows:
(a) Judgment regarding control of subsidiaries
Although the Company’s ownership was lower than 50% of the subsidiary’s outstanding shares, the subsidiary was
consolidated. This is because the other 50.01% ownership was dispersed and no evidence of joint policy making
agreement among those stockholders. Also, the low participation rate of other shareholders in past shareholders’
meetings indicates that the Company owns the actual power to control.
(b) Financial asset and liability classification
At initial recognition, financial assets and liabilities are categorized or designated depending on the following
circumstances:
(i) Financial assets are designated as fair value through profit or loss, if they meet the criteria for being classified
as assets as set out in accounting policy disclosure Note 4(g).
(ii) Financial assets are designated as fair value through other comprehensive income, if they met the criteria for
being classified as assets as set out in accounting policy disclosure Note 4(g).
(iii) Financial assets are designated as amortized cost, if they met the criteria for being as assets as set out in
accounting policy disclosure Note 4(g).
(c) Securitizations
In applying its accounting policies on securitized financial assets, the Group has evaluated both the extent of risks
and rewards on assets transferred to another entity and the extent of the Group’s control over the other entity:
165
(i) If the Group, in substance, controls the entity in which financial assets have been transferred, the entity is
included in these consolidated financial statements and the transferred assets are recognized in the Group’s
consolidated balance sheet.
(ii) If the Group has transferred financial assets to another entity, but has not transferred substantially all of the risk
and rewards relating to the transferred assets, the assets are recognized in the Group’s consolidated balance
sheet.
(iii) If the Group transfers substantially all the risk and rewards relating to the transferred assets to an entity that it
does not control, the assets are derecognized from the Group’s consolidated balance sheet.
Details of the Group’s securitization activities are discussed under the accounting policy disclosure Note 6(d).
Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material
adjustment within the next financial year is as follows:
(a) Impairment losses on loans and receivables
Impairment allowances on loans and receivables represent management’s best estimate of losses incurred in the
loan portfolios at the balance sheet date. Management is required to exercise judgment in making assumptions
and estimations when calculating loan and receivables impairment allowances on both individually and
collectively assessed loans and receivables.
The specific counterparty component of the total allowance for impairment applies to financial assets evaluated
individually for impairment and is based upon management’s best estimate of the present value of the estimated
future cash flows that are expected to be received. In estimating these cash flows, management makes judgments
on counterparty’s financial situation and the net realizable value of any underlying collateral. The Group recognizes
an impairment loss on the excess of carrying value over the recoverable amount of the estimated cash flows in
profit or loss.
All individually significant loans and receivables found not to be specifically impaired are then collectively assessed
for any impairment that has been incurred but not yet identified. Loans and receivables that are not individually
significant are collectively assessed for impairment by grouping together loans and receivables with similar risk
characteristics. The current methodology used for impairment assessment is subject to estimation of uncertainty,
because it is not practicable to identify losses individually due to the large number of insignificant loans in the
portfolio. In addition, the statistical analyses of historical information is supplemented with significant judgment
to assess whether current economic and credit conditions are such that the actual level of inherent losses is likely
to be greater or less than that suggested by historical experience. In normal circumstances, historical experience
provides the most objective and relevant information from which to assess inherent loss within each portfolio. In
certain circumstances, historical loss experience provides certain less relevant information about the inherent loss
in a given portfolio at the balance sheet date, for example, where there have been changes in economic, regulatory
or behavioral conditions such that the most recent trends in the portfolio risk factors are not fully reflected in the
statistical models of impairment assessment. In these circumstances, such factors are taken into account when
calculating the appropriate levels of impairment allowances, by adjusting the impairment allowances derived
solely from historical loss experience.
This key area of judgment is subject to uncertainty and is highly sensitive to factors such as loan portfolio growth,
product mix, unemployment rates, bankruptcy trends, geographic concentrations, economic conditions such
as national and local trends in housing markets, the level of interest rates, account management policies and
practices, changes in laws and regulations, and other factors that can affect customer payment patterns. Different
factors are applied in different regions and countries to reflect different economic and credit conditions and laws
and regulations. The assumptions underlying this judgment are highly subjective. The methodology and the
assumptions used in calculating impairment losses are reviewed regularly in the light of differences between loss
estimates and actual loss experience. For example, loss rates and the expected timing of future recoveries are
regularly benchmarked against actual outcomes to ensure they remain appropriate.
(b) Impairment losses on non‑financial assets
The Group reviews the carrying amounts of the assets at each reporting date to determine whether there is any
indication of impairment. If any such indication exists, the asset’s recoverable amount or value in use is estimated.
Determining the value in use of non‑financial assets, which require the determination of future cash flows
expected to be generated from the continued use and ultimate disposition of such assets, require the Group to
make estimates and assumptions that can materially affect the financial statements. Any resulting impairment
losses could have a material adverse impact on the Group’s financial condition and results of operations.
The preparation of the estimated future cash flows involves significant judgment and estimations. While the
Group believes that the assumptions are appropriate and reasonable, significant changes in the assumptions may
materially affect the assessment of recoverable values and may lead to future impairment charges.
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(c) Valuation Process
The Group’s accounting policies include measuring financial and non‑financial assets and liabilities at fair value
through profit or loss.

The Group’s financial instrument valuation group conducts independent verification on fair value by using data
sources that are independent, reliable, and representative of exercise prices. This financial instrument valuation
group also periodically adjusts valuation models, conducts back‑testing, renews input data for valuation models,
and makes all other necessary fair value adjustments to assure the rationality of fair value. The Group strives to use
market observable inputs when measuring assets and liabilities. Different levels of the fair value hierarchy to be
used in determining the fair value of financial instruments are as follows:
‧ Level 1: quoted prices (unadjusted) in active markets for identifiable assets or liabilities.
‧ Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability,
either directly (i.e. as prices) or indirectly (i.e. derived from prices).
‧ Level 3: inputs for the assets or liability that are not based on observable market data.
Please refer to notes listed below for the assumptions used in measuring fair value Note (6)(u), Financial
instruments.
(6) Explanation to significant accounts

(a) Cash and cash equivalents
2021.12.31 2020.12.31
Cash and bank deposits $ 46,136,939 31,662,725
Time deposits 237,609 784,080
Cash equivalents‑repurchase bills - 350,000
Cash and cash equivalents in consolidated statements of cash flows $ 46,374,548 32,796,805
The Group’s interest risk and sensitivity analysis of financial assets and liabilities were disclosed in Note (6)(u).
(b) Financial instruments
1.The components of financial assets were as follows:
2021.12.31 2020.12.31
Financial assets designated at fair value through profit or loss
Mandatorily measured at fair value through profit or loss:
Securities of listed companies $ 6,885 194,363
Private equity 480 480
Non‑hedging derivatives 1,308,478 560,479
Convertible bonds 77,776 75,096
Convertible preferred stocks 18,536 19,025
Bond options 2,400 -
Sub‑total 1,414,555 849,443
Financial assets at fair value through other comprehensive income
Securities of listed companies 784,142 693,793
Emerging stock 9,530 4,261
Private equity 136,991 130,307
Sub‑total 930,663 828,361
Financial assets measured at amortized cost
Investment in debt securities 30,493,766 18,697,957
Financial assets for hedging 309,278 118,697
Total $ 33,148,262 20,494,458
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1. Financial assets designated at fair value through profit or loss ‑ bond options
The Company issued the first domestic unsecured convertible bonds on December 16, 2021. The Company has
redeemable options accordance with the regulation for issuance of domestic unsecured convertible bonds,
please refer to Note (6)(l). The amount of gain or loss on remeasurement of fair value, please refer to Note (6)(t).
2. Investments in equity instruments measured at fair value through other comprehensive income
These investments in equity instruments are held for long‑term strategic purpose and therefore are accounted
for as financial assets at fair value through other comprehensive income.
3. Financial assets measured at amortized cost
The Group purchased debt securities issued by real estate asset trust. These debt securities have maturity dates
between 2021 and 2025, and bear effective annual interest rates ranging from 2.75%~7.50%.
4. Please refer to Note (6)(v) for information regarding credit risk and market risk.
(c) Derivative instruments used for hedging
As of December 31, 2021 and 2020, the Group held derivative instruments qualified for hedge accounting as
follows:
Cross currency swap contracts:
2021.12.31
Nominal Amount Currency Interest Rate Payable Interest Rate Receivable Contract Period
USD 9,600 USD to MYR 4.83% 90‑Day LIBOR+ 1.35% 2019.03.20~
MYR 39,168 2022.03.21
MYR 66,688 2023.09.10
MYR 41,095 2024.05.10
MYR 127,020 2024.12.06
USD 50,000 USD to CNY 4.12% 90‑Day LIBOR+ 1.4% 2019.01.22~
CNY 338,250 2022.01.21
CNY 345,500 2022.06.17
CNY 344,375 2022.07.15
CNY 352,650 2022.08.19
CNY 352,650 2022.08.26
CNY 418,200 2023.01.13
CNY 418,800 2023.02.17
CNY 417,900 2023.08.11
CNY 414,300 2023.09.14
CNY 413,400 2023.09.21
CNY 210,540 2024.06.07
168
2021.12.31

CNY 213,510 2024.07.19
CNY 214,005 2024.07.26
CNY 320,166 2024.08.09
CNY 211,332 2024.11.22
CNY 316,058 2024.11.29
CNY 315,315 2024.12.06
CNY 314,078 2024.12.13
USD 50,000 USD to CNY 6.35% 3.75% 2020.10.22~
CNY 327,500 2023.10.22
USD 50,000 USD to CNY 6.35% 3.75% 2020.10.22~
CNY 327,000 2023.10.22
USD 50,000 USD to CNY 6.35% 3.75% 2020.10.22~
CNY 327,000 2023.10.22
USD 50,000 USD to CNY 6.30% 3.75% 2020.10.22~
CNY 326,890 2023.10.22
USD 50,000 USD to CNY 6.05% 3.75% 2020.10.22~
CNY 327,550 2023.10.22
USD 50,000 USD to CNY 6.29% 3.75% 2021.10.22~
CNY 322,500 2023.10.22
JPY 8,000,000 JPY to CNY 3.68% 90‑Day LIBOR+ 1.0% 2020.07.16~
CNY 524,400 2023.05.26
JPY 7,000,000 JPY to CNY 4.53% 3‑Year TSR+ 1.05% 2021.12.03~
CNY 390,250 2024.09.06
JPY 6,300,000 JPY to CNY 4.52% 3‑Year TSR+ 1.05% 2021.12.06~
CNY 354,375 2024.09.06
HKD 400,000 HKD to CNY 4.34% 90‑Day HIBOR+ 1.4% 2019.11.25~
CNY 359,120 2022.11.25
CNY 269,400 2022.11.28
CNY 270,842 2022.12.09
USD 30,000 USD to VND 3.45% 90‑Day LIBOR+ 1.3% 2020.12.23~
VND 693,900,000 2024.12.22
VND 692,400,000 2023.12.22
USD 100,000 USD to THB 2.27% 90‑Day LIBOR+ 1.65% 2021.01.11~
THB 2,993,000 2024.01.11
169
Forward exchange contracts:
2021.12.31
Amount Currency Contract period
Forward exchange purchased USD 5,000 USD to VND 2021.03.22~2022.03.22
Cross currency swap contracts:

2020.12.31
MYR 48,960 2022.03.21
MYR 83,600 2023.09.10
CNY 338,250 2022.01.21
CNY 345,500 2022.06.17
CNY 344,375 2022.07.15
CNY 352,650 2022.08.19
CNY 352,650 2022.08.26
CNY 418,200 2023.01.13
CNY 418,800 2023.02.17
CNY 417,900 2023.08.11
CNY 414,300 2023.09.14
CNY 413,400 2023.09.21
USD 50,000 USD to CNY 6.35% 3.75% 2020.10.22~
170
2020.12.31
CNY 327,500 2023.10.22

USD 50,000 USD to CNY 6.35% 3.75% 2020.10.22~
CNY 327,000 2023.10.22
USD 50,000 USD to CNY 6.35% 3.75% 2020.10.22~
CNY 327,000 2023.10.22
USD 50,000 USD to CNY 6.30% 3.75% 2020.10.22~
CNY 326,890 2023.10.22
USD 50,000 USD to CNY 5.90% 3.75% 2020.10.22~
CNY 327,000 2021.10.22
USD 50,000 USD to CNY 6.05% 3.75% 2020.10.22~
CNY 327,550 2023.10.22
CNY 246,410 2021.06.21
CNY 458,700 2021.06.23
JPY 8,000,000 JPY to CNY 3.68% 90‑Day LIBOR+ 1% 2020.07.16~
CNY 524,400 2023.05.26
CNY 359,120 2022.11.25
CNY 269,400 2022.11.28
CNY 270,842 2022.12.09
VND 693,900,000 2023.12.22
Forward exchange contracts:

2020.12.31
Amount Currency Contract period
1. Cash flow hedge

Subsidiaries entered into cross currency swap contracts with banks to hedge future cash flow out of foreign
currency loans.
Fair Value
Hedge Expected Cash Hedge
Hedged item 2021.12.31 2020.12.31
Instrument flow Period Period
USD loans, JPY loans and HKD Cross Currency Swap $ 291,404 118,697 2019~2024 2019~2024
loans
USD loans, JPY loans and HKD Cross Currency Swap (552,239 ) (1,400,121 ) 2019~2024 2019~2024
loans
171
Item 2021 2020
The fair value adjustment to other comprehensive income $ 61,959 (50,099 )
The Group uses the forward exchange contracts as its strategy to hedge its estimated foreign currency exposure
in respect of forecasted purchases over the following twelve months. The amounts related to the items
designated as hedging instruments at the reporting date were as follows:
Contract Maturity Average Hedge ineffectiveness
2021.12.31 Currency
amount period strike price recognized in profit or loss
Forward exchange purchased 2021.03.22~
USD 5,000 USD to VND 23,075 -
(USD loans) 2022.03.22
USD 6,000 USD to VND 22,940 -
(USD loans) 2022.06.09
USD 4,000 USD to VND 22,940 -
(USD loans) 2022.06.10
USD 5,000 USD to VND 22,940 -
(USD loans) 2022.05.13
USD 5,000 USD to VND 22,994 -
(USD loans) 2022.06.29
USD 3,000 USD to VND 23,015 -
(USD loans) 2022.07.05
USD 3,000 USD to VND 23,010 -
(USD loans) 2022.04.04
USD 5,000 USD to VND 23,000 -
(USD loans) 2022.07.11
USD 6,000 USD to VND 23,015 -
(USD loans) 2022.01.11
USD 2,000 USD to VND 22,756 -
(USD loans) 2022.10.14
USD 5,000 USD to VND 22,750 -
(USD loans) 2022.10.21
USD 5,000 USD to VND 22,642 -
(USD loans) 2022.11.10
USD 5,000 USD to VND 23,018 -
(USD loans) 2022.09.09
USD 20,000 USD to VND 22,950 -
(USD loans) 2022.12.16
Contract Maturity Average Hedge ineffectiveness

2020.12.31 Currency
amount period strike price recognized in profit or loss
USD 2,000 USD to VND 23,175 -
(USD loans) 2021.10.26
USD 3,000 USD to VND 23,179 -
(USD loans) 2021.10.28
USD 5,000 USD to VND 23,155 -
(USD loans) 2021.11.26
USD 5,000 USD to VND 23,135 -
(USD loans) 2021.11.30
USD 3,000 USD to VND 23,128 -
(USD loans) 2021.12.10
172
The amounts at the reporting date related to the items designated as hedged items were as follows:
Cash flow hedge reserve
2021.12.31
(Continuing hedges)

USD loans $ 17,874
2020.12.31
USD loans $ (1,999 )
The impact of the amounts related to hedging instruments on other comprehensive income was as follows:
2021 2020
Forward Forward
exchange purchased exchange purchased
(USD loans) (USD loans)
Amount reclassified from hedge reserve to profit or loss:
Amounts of hedging gains or losses recognized in other comprehensive income $ 3,158 (757 )
2. Hedge of net investment in foreign operation

The fair value of the equity investment in foreign investee, Golden Bridge (B.V.I.) Corp., may be influenced by
the fluctuation of USD exchange rate. The Company designated its USD borrowings to hedge the exchange rate
fluctuation risk from this investment. The details of net investment hedge in foreign operation and designated
derivatives were as follows:
Designated Hedging Instrument
Fair Value
Hedged Item Hedge Instrument 2021.12.31 2020.12.31
Equity investment measured in USD Foreign currency borrowings $ 10,933,600 4,642,240

Item 2021 2020
The fair value adjustment to other comprehensive income $ 158,366 377,685
There were no effects of ineffectiveness recognized in profit or loss that arises from hedges of net investments in
foreign operation, Golden Bridge (B.V.I.) Corp., for the years ended December 31, 2021 and 2020.
173
(d) Accounts receivable, net
2021.12.31 2020.12.31
Current
Accounts receivable $ 47,579,740 38,200,736
Less: Allowance for impairment (911,921 ) (825,456 )
46,667,819 37,375,280
Installment sales receivable 122,374,515 104,004,087
Less: Unearned interests (14,365,904 ) (11,486,888 )
Allowance for impairment (3,056,705 ) (2,795,997 )
104,951,906 89,721,202
Leases receivable (included operating leases) 228,843,214 211,623,740
Less: Unearned revenue (27,778,367 ) (26,191,570 )
196,248,081 180,614,423
Loans receivable 81,223,446 69,194,739
Less: Allowance for impairment (1,535,533 ) (1,186,622 )
79,687,913 68,008,117
Sub‑total of current accounts 427,555,719 375,719,022
Non‑Current

Accounts receivable 29,392,707 21,458,701
28,987,534 21,157,490
Installment sales receivable 69,975,993 59,445,199
Less: Unearned interests (8,198,913 ) (6,972,077 )
60,234,910 50,813,843
Leases receivable 13,371,370 11,170,057
Less: Unearned revenue (1,195,399 ) (1,076,883 )
Allowance for impairment (106,646) (88,591 )
12,069,325 10,004,583
Loans receivable 16,153,964 12,643,660
15,863,212 12,170,997
Sub‑total of non‑current accounts 117,154,981 94,146,913
Total accounts receivable $ 544,710,700 469,865,935
174
1. The movements in the allowance for impairment with respect to accounts receivable during the period were as
follows:

2021 2020
Opening balance $ 12,147,566 10,238,346
Impairment loss recognized 6,347,682 7,123,450
Bad debts written off (5,544,458 ) (5,148,842 )
Effect of exchange rate changes (285,124 ) (65,388 )
Ending balance $ 12,665,666 12,147,566
2. Receivables arising from installment sales and capital leases transactions, which were partially pledged for the
repayment or collaterals of bank loans, were discussed further in Note (8).
3. A maturity analysis of capital lease payments, showing the undiscounted lease payments to be received after the
reporting date is as follows:
2021.12.31 2020.12.31
Less than one year $ 129,239,043 116,121,025
One to two years 74,554,061 74,003,429
Two to three years 31,363,106 25,892,968
Three to four years 4,427,265 4,686,402
Four to five years 1,283,274 1,334,055
More than five years 1,103,552 579,369
Gross investment in the leases 241,970,301 222,617,248
Unearned revenue (28,973,766) (27,268,453)
Present value of minimum leases receivable $ 212,996,535 195,348,795
4. The Group's installment sales receivable and related accounts were as follows:
Present value of
Gross investment Unearned
installment sales
in the installment sales interests
receivable
December 31, 2021
Within operating cycle $ 122,374,515 (14,365,904 ) 108,008,611
Beyond one operating cycle to 5 years 67,341,559 (7,963,060 ) 59,378,499
Beyond 5 years 2,634,434 (235,853 ) 2,398,581
$ 192,350,508 (22,564,817 ) 169,785,691
Present value of
Gross investment Unearned
installment sales
in the installment sales interest
receivable
December 31, 2020
Within operating cycle $ 104,004,087 (11,486,888) 92,517,199
Beyond one operating cycle to 5 years 56,962,087 (6,697,063) 50,265,024
Beyond 5 years 2,483,112 (275,014) 2,208,098
$ 163,449,286 (18,458,965) 144,990,321
175
5. 2016 Securitization
In 2016, the Group securitized its financial assets, consisting of conditional sales receivable, installment sales
receivable, fund loaning and capital leases receivable, with an aggregate carrying amount of $4,973,789. Such
securitization was made by way of offering the securities in the form of beneficiary certificates, with the Land
Bank of Taiwan as the Trustee. Accordingly, the Group received $4,093,200 in cash from issuing these beneficiary
certificates. Because the Group acquired all of the subordinated beneficiary certificates, the Group had control
over the SPEs. The SPEs are classified as "Investments accounted under equity method". The Group's downstream
transactions are eliminated by the difference between the following two amounts.
1) The amount received from disposal of financial assets.
2) Adjusted book value of disposed financial assets.
The SPEs trusts are included in the consolidated financial statements and recognized as liabilities for cash
obtained from issuing these beneficiary certificates.
On September 24, 2020, the special purpose trust, with the beneficiary certificate grades of twAAA and twA, has
been fully redeemed. As the process of its liquidation was completed on October 21, 2020, the Group received
the amount of $431,622 from the return of subordinated certificates resulting in the special purpose entity to be
dissolved, and the combination suspended.
On November 23, 2020, the Group signed a contract for the purpose of debts with special purpose trust entity,
and purchased the receivables from special purpose individuals for a total price of $540,391.
6. 2019 Securitization
In 2019, the Group securitized its financial assets, consisting of conditional sales receivable, installment sales
receivable, fund loaning and capital leases receivable, with an aggregate carrying amount of $5,330,149. Such
securitization was made by way of offering the securities in the form of beneficiary certificates, with the Land
Bank of Taiwan as the Trustee. Accordingly, the Group received $4,285,000 in cash from issuing these beneficiary
certificates. Because the Group acquired all of the subordinated beneficiary certificates, the Group had control
over the SPEs. The SPEs are classified as "Investments accounted under equity method". The Group's downstream
transactions are eliminated by the difference between the following two amounts.
1) The amount received from disposal of financial assets.
2) Adjusted book value of disposed financial assets.
The SPEs trusts are included in the consolidated financial statements and recognized as liabilities for cash
obtained from issuing these beneficiary certificates.
These beneficiary certificates are redeemable for the period from December 11, 2019 to December 11, 2026.
Specific terms and conditions of the beneficiary certificates are as follows:
Class of beneficiary Order of principal Issue amount Contract Payment
Issue price
certificates issued repayment /par value Interest rate frequency
twAAA 1st 3,840,000 3,840,000 1.30% Monthly
twA 2nd 445,000 445,000 1.70% Monthly
Subordinated 3rd 1,045,149 1,242,765 None Monthly
(e) Other current assets

2021.12.31 2020.12.31
Prepayments $ 3,130,995 5,337,878
Prepaid expenses 3,683,582 3,107,963
Foreclosed assets 113,666 127,189
Others 578 11,727
$ 6,928,821 8,584,757
176
As of December 31, 2021 and 2020, foreclosed assets held by the Group were as follows:
2021.12.31 2020.12.31
Foreclosed assets $ 167,247 186,139

Less: Accumulated impairment (53,581 ) (58,950 )
$ 113,666 127,189
For the years ended December 31, 2021 and 2020, the Group recognized an impairment loss of $2,203 and $2,695,
and a disposal loss of $142,161 and $193,424, respectively, for foreclosed assets.
(f ) Investments accounted under equity method
1. The financial information of individually non‑significant equity method associates included in the consolidated
financial statements was as follows:
2021.12.31 2020.12.31
Investments in associates $ 1,759,104 1,807,241

2021 2020
Comprehensive income attributable to the Group
Gain (loss) in the period $ 36,115 (28,527 )
Other comprehensive income (6,217 ) 38,148
Total comprehensive income $ 29,898 9,621
177
(g) Property, plant and equipment
The cost, depreciation, and impairment of the property, plant and equipment of the Group as of and for the years
ended December 31, 2021 and 2020, were as follows:
Machinery and
Land and Transportation Leasehold
miscellaneous Total
buildings equipment improvements
equipment
Cost or deemed cost:

Balance at January 1, 2021 $ 2,924,521 15,280,472 35,651,937 254,951 54,111,881
Additions 579,365 7,686,732 7,061,976 58,676 15,386,749
Disposals (2,035 ) (3,544,323 ) (1,124,524 ) (7,650 ) (4,678,532 )
Effect of movements in exchange rate (28,347 ) (62,536 ) (29,972 ) (1,280 ) (122,135 )
Balance at December 31, 2021 $ 3,473,504 19,360,345 41,559,417 304,697 64,697,963
Additions 14,297 5,446,586 9,498,693 23,289 14,982,865
Disposals (7,821 ) (3,071,150 ) (714,579 ) (6,846 ) (3,800,396 )
Effect of movements in exchange rate 16,085 (71,990 ) (20,456 ) 3,245 (73,116 )
Depreciation and impairment losses:

Balance at January 1, 2021 $ 697,989 5,495,296 3,689,111 186,128 10,068,524
Depreciation 53,389 2,840,782 1,566,436 27,711 4,488,318
Impairment loss - 381,441 43,906 - 425,347
Disposals (67 ) (2,153,119 ) (309,760 ) (1,530 ) (2,464,476 )
Effect of movements in exchange rate (6,191 ) (31,718 ) (22,722 ) 212 (60,419 )
Balance at December 31, 2021 $ 745,120 6,532,682 4,966,971 212,521 12,457,294
Balance at January 1, 2020 $ 642,249 4,926,997 2,792,858 163,501 8,525,605
Depreciation 52,907 2,409,544 1,270,959 24,396 3,757,806
Impairment loss - 281,726 39,466 - 321,192
Disposals (70 ) (2,079,061 ) (379,697 ) (6,846 ) (2,465,674 )
Effect of movements in exchange rate 2,903 (43,910 ) (34,475 ) 5,077 (70,405 )
Balance at December 31, 2020 $ 697,989 5,495,296 3,689,111 186,128 10,068,524
Carrying amounts:
Recognition and reversal of impairment losses were charged to the cost of rental revenue.
For the impairment test of its leasing asset, management estimated the recoverable amount based on its value
in use, which was determined by using the cost of capital 0.91%~2.18% and 1.01%~2.23% for the years ended
December 31, 2021 and 2020, respectively, to reflect the specific risk associated with its cash generating units.
Assets held for lease, which were partially pledged for the Group’s long‑term debts and short‑term debts, were
discussed further in Note (8).
178
(h) Right‑of‑use assets
The Group leases many assets including land and buildings and transportation equipment. Information for the
years ended December 31, 2021 and 2020, was as follows:

Land and Transportation
Total
buildings equipment
Cost:
Balance as of January 1, 2021 $ 4,981,410 152,403 5,133,813
Additions 1,715,342 60,106 1,775,448
Disposal and termination of contract prior to maturity (527,701 ) (53,145 ) (580,846 )
Effect of changes in foreign exchange rates (12,312 ) (2,468 ) (14,780 )
Balance as of December 31, 2021 $ 6,156,739 156,896 6,313,635
Additions 1,388,078 37,959 1,426,037
Effect of changes in foreign exchange rates (7,515 ) 2,084 (5,431 )
Accumulated depreciation and impairment losses:

Balance as of January 1, 2021 $ 857,361 79,242 936,603
Depreciation 638,143 45,392 683,535
Effect of changes in foreign exchange rates (5,646 ) (898 ) (6,544 )
Balance as of January 1, 2020 $ 513,934 44,315 558,249
Depreciation 592,455 54,648 647,103
Effect of changes in foreign exchange rates (1,145 ) 1,432 287
Balance as of December 31, 2020 $ 857,361 79,242 936,603
Carrying amount:

179
(i) Intangible assets
The costs of intangible assets and amortization of the Group as of and for the years ended December 31, 2021 and
2020, were as follows:
Goodwill Software Total
Cost:
Balance at January 1, 2021 $ 79,906 67,147 147,053
Additions 1,641 4,390 6,031
Effect of movements in exchange rate (2,852 ) (8,107 ) (10,959 )
Balance at December 31, 2021 $ 78,695 63,430 142,125
Additions 19,406 8,620 28,026
Effect of movements in exchange rate (261 ) (2,834 ) (3,095 )
Amortization and impairment losses:

Balance at January 1, 2021 $ 60 49,217 49,277
Amortization for the year - 4,193 4,193
Effect of movements in exchange rate - (5,190 ) (5,190 )
Balance at December 31, 2021 $ 60 48,220 48,280
Balance at January 1, 2020 $ 60 46,754 46,814
Amortization for the year - 4,477 4,477
Effect of movements in exchange rate - (2,014 ) (2,014 )
Balance at December 31, 2020 $ 60 49,217 49,277
Carrying amounts:
For the years ended December 31, 2021 and 2020, the amortization of intangible assets amounted to $4,193 and
$4,477, respectively. This amortization was accounted for as operating expense of the consolidated statement of
comprehensive income.
(j) Short‑term notes and bills payable
The Group's short‑term notes and bills payable were as follows:
2021.12.31
Guarantee or Annual Interest
Amount
Acceptance Agency Rate
Commercial paper payables Bank 0.37%~1.14% $ 64,700,000
Bills Finance Company 0.37%~1.06% 25,790,000
Less: Discount on short‑term notes and bills payable (214,594 )
Total $ 90,275,406
2020.12.31
Guarantee or Annual Interest
Amount
Acceptance Agency Rate
Commercial paper payables Bank 0.42%~1.06% $ 57,600,000
Bills Finance Company 0.43%~1.19% 26,630,000
Less: Discount on short‑term notes and bills payable (231,293 )
Total $ 83,998,707
Please refer to Note (8) for the Group's short‑term notes and bills payable collateral.
180
(k) Long‑term and short‑term borrowings
The significant terms and conditions of long‑term borrowings and short‑term borrowings were as follows:
2021.12.31

Annual Interest Years of
Currency Amount
Rate Maturity
Secured bank loans TWD 0.79%~1.20% 2022~2025 $ 895,000
〞 USD 1.00%~2.75% 2022~2024 4,638,643
〞 THB 1.10%~3.30% 2022~2024 10,396,500
〞 CNY 4.05%~5.41% 2022~2024 38,252,424
〞 VND 1.54%~3.80% 2022 6,044,573
〞 MYR 3.00%~5.00% 2022~2026 4,130,750
Unsecured bank loans TWD 0.73%~2.11% 2022~2031 159,508,564
〞 USD 0.78%~5.50% 2022~2024 68,749,608
〞 THB 1.00%~3.38% 2022~2024 16,789,152
〞 CNY 3.60%~5.30% 2022~2024 18,039,758
〞 EUR 0.55%~1.30% 2022~2024 2,599,553
〞 JPY 0.70%~1.37% 2022~2023 5,520,277
〞 HKD 1.38%~1.74% 2022 4,362,214
〞 SGD 1.48%~1.60% 2022 368,279
〞 PHP 3.39%~6.67% 2022~2024 324,392
〞 MYR 3.00%~4.00% 2022 2,440,320
〞 KHR 4.00%~7.00% 2022 173,208
Unsecured other loans TWD 2.10%~4.00% 2022~2023 145,534
〞 THB 1.50%~2.31% 2022 708,983
Notes payable from securitization TWD 1.30%~1.70% 2022~2026 4,285,000
〞 CNY 4.13%~4.30% 2022 4,854,941
Total $ 353,227,673
Current $ 234,455,828
Non‑current 118,771,845
Total $ 353,227,673
181
2020.12.31
Annual Interest Years of
Currency Amount
Rate Maturity
Secured bank loans TWD 0.79%~1.20% 2023~2025 $ 525,000
〞 USD 1.10%~3.75% 2021~2023 2,113,164
〞 THB 1.31%~3.30% 2021~2023 9,330,606
〞 CNY 3.39%~6.17% 2021~2029 52,466,869
〞 VND 1.50%~3.40% 2021 6,800,748
〞 MYR 3.00%~4.00% 2022 2,716,000
Unsecured bank loans TWD 0.71%~2.11% 2021~2027 111,179,776
〞 USD 0.84%~5.50% 2021~2023 42,425,343
〞 THB 1.33%~3.25% 2021~2023 18,385,017
〞 CNY 3.60%~5.94% 2021~2023 12,875,804
〞 EUR 0.65%~1.30% 2021~2023 3,186,807
〞 JPY 0.70%~1.37% 2021~2023 5,588,139
〞 HKD 1.70%~2.05% 2022 3,696,110
〞 SGD 1.41%~1.60% 2021 172,479
〞 MYR 3.15%~3.75% 2021 4,617,200
〞 PHP 3.20%~6.00% 2021~2022 378,035
〞 KHR 4.00%~7.00% 2021 157,353
Unsecured other loans THB 2.20%~2.30% 2021 1,483,703
Notes payable from securitization TWD 1.30%~1.70% 2021~2026 4,285,000
〞 CNY 4.30%~4.60% 2021~2022 6,149,751
Total $ 288,532,904
Current $ 203,735,551
Non‑current 84,797,353
Total $ 288,532,904
For information on the Group’s interest risk, currency risk, and liquidity risk, please refer to Note (6)(u). For
information on the debts of related parties, please refer to Note (7).
1. Securities for bank loans
Certain assets of the Group which were pledged for the repayment of aforementioned loans were disclosed in
Note (8).
2. Financial covenants of significant loans and borrowings
1) The Company, entered into a syndicated credit agreement with financial institutions, under which, this
subsidiary shall maintain certain financial ratios on balance sheet date. (i.e. equity ratio, interest coverage
ratio, tangible net worth, etc.) Otherwise, the loans are due and payable immediately.
2) A subsidiary, Chailease Finance Co., Ltd., entered into several syndicated credit agreements with financial
institutions, under which, this subsidiary shall maintain certain financial ratios on balance sheet date. (i.e.
equity ratio, interest coverage ratio, tangible net worth, self‑owned asset ratio, etc.) Otherwise, the loans are
due and payable immediately.
3) A subsidiary, Asia Sermkij Leasing Public Co., Ltd., likewise entered into several credit loan agreements with
financial institutions, under which, this subsidiary shall maintain certain financial ratios on balance sheet date.
(i.e. liabilities to equity ratio, etc.) Otherwise, the loans are due and payable immediately.
4) A subsidiary, Grand Pacific Financing Corp. (California), entered into a syndicated credit agreement with
(i.e. interest coverage ratio, tangible net worth, etc.) Otherwise, the loan is due and payable immediately.
182
5) A subsidiary, Fina Finance & Trading Co., Ltd., entered into several syndicated credit loan agreements with
(i.e. equity ratio, tangible net worth, interest coverage ratio, self‑owned asset ratio, etc.) Otherwise, the loans
are due and payable immediately.

6) A subsidiary, Chailease International Finance Corporation entered into several credit loan agreements with
financial institutions. Under these agreements, the Company and this subsidiary shall maintain certain
financial ratios on balance sheet date. (i.e. liabilities to equity ratio, equity ratio, tangible assets net worth,
interest coverage ratio, total risk assets to net assets ratio, overdue leased assets to leased assets ratio, leasing
rental recovery ratio, etc.) Otherwise, the loans are due and payable immediately.
7) A subsidiary, Chailease Finance International Corp., entered into several credit loan agreements with financial
institutions. Under these agreements, this subsidiary shall maintain certain financial ratios on balance sheet
date. (i.e. liabilities to equity ratio, risk assets to net assets ratio, etc.) Otherwise, the loans are due and payable
immediately.
8) A subsidiary, Chailease International Corp., entered into several credit loan agreements with financial
institutions. Under these agreements, the Company shall maintain certain financial ratios on balance sheet
date. (i.e. liabilities to equity ratio, recovery of account receivable, etc.) Otherwise, the loans are due and
payable immediately.
9) A subsidiary, Chailease Consumer Finance Co., Ltd., entered into several credit loan agreements with financial
institutions, under which, this subsidiary shall maintain certain financial ratios on balance sheet date. (i.e.
equity ratio, tangible net worth, interest coverage ratio, self‑owned asset ratio, etc.) Otherwise, the loans are
due and payable immediately.
10) A subsidiary, Chailease International Financial Services Co., Ltd., entered into several credit loan agreements
with financial institutions, under which, Chailease Finance Co., Ltd., shall maintain certain parent only financial
ratios on balance sheet date. (i.e. interest coverage ratio, tangible net worth, etc.) Otherwise, the loans are due
and payable immediately.
11) A subsidiary, Chailease Berjaya Credit Sdn Bhd., entered into several credit loan agreements with financial
institutions, under which, the Company and Chailease Berjaya Credit Sdn Bhd., shall maintain certain financial
ratios on balance sheet date. (i.e. liabilities to equity ratio, etc.) Otherwise, the loans are due and payable
immediately.
12) A subsidiary, Chailease International Financial Services (Singapore) Pte. Ltd. entered into several credit
loan agreements with financial institutions, under which, Chailease Finance Co., Ltd., shall maintain certain
financial ratios on balance sheet date. (i.e. interest coverage ratio and tangible net worth ratio, etc.) Otherwise,
the loans are due and payable immediately.
13) A subsidiary, Chailease Berjaya Finance Corporation, entered into a credit loan agreement with a financial
institution, under which, Chailease Berjaya Finance Corporation shall maintain certain financial ratios on
the balance sheet date. (i.e. liabilities ratio, etc.) Otherwise, the loans will be deemed as due and are payable
immediately.
14) The subsidiaries, Chailease Royal Leasing Plc. and Chailease Royal Finance Plc. entered into several credit loan
agreements with different financial institutions, under which, the Company, Chailease Royal Leasing Plc. and
Chailease Royal Finance Plc. shall maintain certain financial ratios on the balance sheet date. (i.e. liabilities
ratio, non‑performing asset ratio, interest coverage ratio, and net tangible assets ratio, etc.) Otherwise, the
loans are due and payable immediately.
15) A subsidiary, Chailease International Leasing Company Limited (Vietnam) entered into several syndicated
credit loans agreements with different financial institutions, under which, the subsidiary and Chailease
Finance Co., Ltd., shall maintain certain financial ratios on balance sheet date(i.e. interest coverage ratio and
tangible net worth ratio, etc.). Otherwise, the loans are due and payable immediately.
As of December 31, 2021 and 2020, the Group was in compliance with the financial covenants mentioned
above.
183
(l) Bonds payable
1. The details of unsecured corporate bonds were as follows:
2021.12.31
Annual Within Beyond
Principal
Period Interest Repayment Terms Operating Operating Collateral
Amount
Rate Cycle Cycle
2014.10.30~2024.10.30 2.300% 1,100,000 Payable in lump sum. Interest rate is - 1,100,000 None
fixed. Interest is payable annually.
2016.06.28~2023.06.28 1.250% 300,000 〞 300,000 - 〞
2017.05.17~2022.05.17 1.350% 1,700,000 〞 1,700,000 - 〞
2017.05.17~2024.05.17 1.700% 500,000 〞 - 500,000 〞
2017.11.09~2022.11.09 1.100% 1,000,000 〞 1,000,000 - 〞
2018.09.26~2023.09.26 0.980% 1,600,000 〞 1,600,000 -
〞
2018.09.26~2025.09.26 1.260% 700,000 〞 -
700,000 〞
2019.05.09~2024.05.09 0.980% 2,950,000 〞 -
2,950,000 〞
2019.05.09~2026.05.09 1.150% 500,000 〞 -
500,000 〞
2019.05.29~2024.05.29 0.980% 2,850,000 〞 -
2,850,000 〞
2020.04.22~2025.04.22 0.660% 3,500,000 〞 - 3,500,000 〞
2020.10.12~2027.10.12 0.730% 550,000 〞 - 550,000 〞
2020.10.12~2030.10.12 0.900% 700,000 〞 - 700,000 〞
2021.05.06~2026.05.06 0.750% 4,600,000 〞 - 4,600,000 〞
2021.06.25~2028.06.25 0.680% 3,100,000 〞 - 3,100,000 〞
2021.06.25~2031.06.25 0.850% 900,000 〞 - 900,000 〞
2021.06.25~2036.06.25 1.000% 200,000 〞 -
200,000 〞
2021.07.27~2026.07.27 0.700% 2,200,000 〞 -
2,200,000 〞
2021.10.18~2028.10.18 0.700% 1,550,000 〞 -
1,550,000 〞
2021.10.18~2031.10.18 0.850% 1,100,000 〞 -
1,100,000 〞
2019.07.26~2022.07.26 3.150% THB 500,000 Payable in lump sum. Interest 417,350 -
〞
rate is fixed. Interest is payable
semi‑annually.
2019.08.16~2022.08.16 3.150% THB 200,000 Payable in lump sum. Interest 166,940 - None
semi‑annually.
2020.08.28~2022.08.28 3.250% THB 721,500 〞 602,236 -
〞
2020.08.28~2023.11.28 3.750% THB 602,500 〞 - 502,907 〞
2020.12.18~2025.12.18 3.250% THB 416,000 〞 347,235 -
〞
2021.04.07~2023.04.21 2.700% THB 317,000 〞 - 264,600 〞
2021.06.18~2024.06.18 2.900% THB 2,200,000 〞 - 1,836,340 〞
2021.08.27~2024.08.27 2.880% THB 500,000 〞 - 417,350 〞
2021.08.30~2023.08.30 2.520% THB 500,000 〞 - 417,350 〞
2021.10.07~2023.10.07 2.500% THB 500,000 〞 -
417,350 〞
2021.10.07~2024.10.07 2.850% THB 1,500,000 〞 - 1,252,050 〞
2021.11.23~2023.11.23 2.500% THB 650,000 〞 -
542,555 〞
2019.02.28~2022.01.31 3.20% THB 100,000 Payable in lump sum. Interest rate is 83,470 -
〞
fixed. Interest is payable quarterly.
2019.05.17~2022.05.17 3.150% THB 200,000 〞 166,940 -
〞
2019.06.19~2022.06.30 3.150% THB 270,000 〞 225,369 -
〞
2019.08.08~2022.08.08 3.150% THB 800,000 〞 667,760 -
〞
184
2021.12.31
Principal
Amount
Rate Cycle Cycle

2020.02.17~2023.02.17 0% THB 600,000 Payable at par value. -
500,820 〞
2020.03.26~2023.03.26 0% THB 500,000 〞 -
417,350 〞
2021.03.17~2022.09.14 0% THB 300,000 〞 250,410 -
〞
2021.03.18~2023.03.18 0% THB 200,000 〞 - 166,940 〞
2021.03.19~2022.07.01 0% THB 56,000 〞 46,743 -
〞
2020.10.22~2023.10.22 3.750% USD 300,000 Payable in lump sum. Interest 8,301,254 -
〞
semi‑annually.
Bonds payable (Gross) 15,875,707 33,735,612
Discounts on bonds (6,237 ) (42,611 )
payable
$ 15,869,470 33,693,001
185
2020.12.31
Principal
Amount
Rate Cycle Cycle
2014.10.30~2021.10.30 2.050% 900,000 Payable in lump sum. Interest rate is 900,000 -
None
fixed.
Interest is payable annually.
2014.10.30~2024.10.30 2.300% 1,100,000 〞 -
1,100,000 〞
2016.06.28~2021.06.28 1.000% 1,350,000 〞 1,350,000 -
〞
2016.06.28~2023.06.28 1.250% 300,000 〞 -
300,000 〞
2017.05.17~2022.05.17 1.350% 1,700,000 〞 1,700,000 -
〞
2017.05.17~2024.05.17 1.700% 500,000 〞 -
500,000 〞
2017.11.09~2022.11.09 1.100% 1,000,000 〞 1,000,000 -
〞
2018.09.26~2023.09.26 0.980% 1,600,000 〞 -
1,600,000 〞
2018.09.26~2025.09.26 1.260% 700,000 〞 -
700,000 〞
2019.05.09~2024.05.09 0.980% 2,950,000 〞 -
2,950,000 〞
2019.05.09~2026.05.09 1.150% 500,000 〞 -
500,000 〞
2019.05.29~2024.05.29 0.980% 2,850,000 〞 -
2,850,000 〞
2020.04.22~2025.04.22 0.660% 3,500,000 〞 -
3,500,000 〞
2020.10.12~2027.10.12 0.730% 550,000 〞 -
550,000 〞
2020.10.12~2030.10.12 0.900% 700,000 〞 -
700,000 〞
2019.07.26~2022.07.26 3.150% THB 500,000 Payable in lump sum. Interest - 477,800 〞
semi‑annually.
2019.08.16~2022.08.16 3.150% THB 200,000 〞 -
191,120 〞
2020.08.28~2023.11.28 3.750% THB 602,500 〞 -
575,749 〞
2020.08.28~2022.08.28 3.250% THB 721,500 〞 -
689,465 〞
2020.10.15~2021.11.09 2.400% THB 245,000 〞 234,122 -
〞
2020.11.13~2021.12.03 2.400% THB 100,000 〞 95,560 -
〞
2020.12.18~2022.12.18 3.250% THB 416,000 〞 -
397,530 〞
2018.02.15~2021.02.15 2.860% THB 1,000,000 Payable in lump sum. Interest rate is 955,600 -
None
fixed. Interest is payable quarterly.
2018.03.20~2021.03.25 2.860% THB 500,000 〞 477,800 -
〞
2019.01.30~2021.02.05 3.000% THB 290,000 〞 277,124 -
〞
2019.02.28~2022.01.31 3.200% THB 100,000 〞 - 95,560 〞
2019.05.17~2022.05.17 3.150% THB 200,000 〞 -
191,120 〞
2019.06.19~2022.06.30 3.150% THB 270,000 〞 -
258,012 〞
2019.07.12~2021.07.23 2.950% THB 200,000 〞 191,120 -
〞
2019.08.08~2022.08.08 3.150% THB 800,000 〞 -
764,480 〞
2020.02.17~2023.02.17 0% THB 600,000 Payable at par value. -
573,360 〞
2020.03.26~2023.03.26 0% THB 500,000 〞 -
477,800 〞
2020.10.22~2023.10.22 3.750% USD 300,000 Payable in lump sum. Interest 8,592,007 - 〞
semi‑annually.
Bonds payable (Gross) 15,773,333 19,941,996
Discounts on bonds (231 ) (69,998 )
payable
$ 15,773,102 19,871,998
186
2. The details of unsecured convertible bonds was as follows:
2021.12.31
Total convertible corporate bonds issued $ 6,000,000

Unamortized discounted corporate bonds payable (125,433 )
Corporate bonds issued balance at year‑end $ 5,874,567
Embedded derivative ‑ call options, included in financial assets at fair value through profit or loss $ 2,400
Equity component ‑ conversion options, included in capital surplus ‑ stock options $ 149,771
2021
Embedded derivative ‑ gain on remeasurement of call option at fair value $ 600
Interest expense $ 1,754
On December 16, 2021, the Group issued 60 thousand units of 0% unsecured 3‑year convertible bonds, and the
bonds will be redeemed in cash at face value on the maturity date.
The conversion price was set at $299 at the time of issue. When the Group's common shares qualify for
conversion price adjustment in accordance with the terms of issue, such adjustments will be made based on a
formula in accordance with the terms of issue. There are no reset term for this bonds.
From the day after the third month of the issuance of the bonds to the 40th day prior to the expiration of the
issuance period, if the closing price of the Group's common shares listed on the Taiwan Stock Exchange exceeds
30% of the conversion price for 30 consecutive days, or if the remaining amount of bonds that have not been
redeemed, repurchased, resold, or converted, is less than 10% of the face value, then the Company could redeem
the bonds based on face value during the committed period.
(m)Lease liabilities
The Group's lease liabilities were as follows:
2021.12.31 2020.12.31
Current $ 1,308,272 949,959
Non‑current $ 3,754,831 3,272,489
For the maturity analysis, please refer to Note (6)(u).

The amounts recognized in profit or loss were as follows:
2021 2020
Interest on lease liabilities $ 40,386 53,046
Variable lease payments not included in the measurement of lease liabilities $ 229,755 175,201
Expenses relating to short‑term leases $ 396,590 361,376
The amounts recognized in the statement of cash flows for the Group were as follows:
2021 2020
Total cash outflow for leases $ 1,328,261 1,189,697
1. Real estate leases

As of December 31, 2021, the Group leases land and buildings for its office and solar power station. The leases
of office and solar power station typically run for two to twenty‑eight years. Some leases include an option to
renew the lease for an additional period of the same duration after the end of the contract term.
Some leases contain extension options exercisable by the Group. These leases are negotiated and monitored
by local management, and accordingly, contain a wide range of different terms and conditions. The extension
options held are exercisable only by the Group and not by the lessors. In which lease is not reasonably certain
to use an optional extended lease term, payments associated with the optional period are not included within
lease liabilities.
2. Other leases
The Group leases transportation equipment, with lease terms of two to three years.
187
(n) Employee benefits
1. Defined benefit plans
The movement in the present value of the defined benefit obligations and fair value of plan assets was as
follows:
2021.12.31 2020.12.31
Present value of benefit obligations $ 1,859,032 1,944,324
Fair value of plan assets (953,937 ) (951,831 )
Net defined benefit liabilities $ 905,095 992,493
The Group makes defined benefit plan contributions to the pension fund account with Bank of Taiwan that
provides pensions for employees upon retirement. The plans (covered by the Labor Standards Law) entitle a
retired employee to receive retirement benefits based on years of service and average monthly salary for the six
months prior to retirement.
1) Composition of plan assets
The Group allocates pension funds in accordance with the Regulations for Revenues, Expenditures, Safeguard
and Utilization of the Labor Retirement Fund, and such funds are managed by the Bureau of Labor Funds,
Ministry of Labor. With regard to the utilization of the fund, minimum earnings shall be no less than the
earnings attainable from two year time deposits with interest rates offered by local banks.
The Group’s Bank of Taiwan labor pension reserve account balance amounted to $953,937 as of December 31,
2021. For information on the utilization of the labor pension fund assets including the asset allocation and
yield of the fund, please refer to the website of the Bureau of Labor Fund, Ministry of Labor.
2) Movements in present value of the defined benefit obligations
The movements in present value of defined benefit obligations for the Group were as follows:
2021 2020
Defined benefit obligations at January 1 $ 1,944,324 1,909,829
Adjustment at January 1 - (83 )
Current service costs and interest 63,482 73,366
Remeasurement on the net defined benefit liabilities (assets)

－ Actuarial losses arising from changes in financial assumptions (55,619 ) 20,180
Benefits paid by the plan (71,855 ) (54,932 )
Exchange differences on translation of foreign plans (21,300 ) (4,036 )
Defined benefit obligations at December 31 $ 1,859,032 1,944,324
3) Movements of defined benefit plan assets

The movements in the present value of the defined benefit plan assets for the Group were as follows:
2021 2020
Fair value of plan assets at January 1 $ 951,831 905,713
Adjustment at January 1 - (83 )
Interest income 6,023 9,875
Remeasurement on the net defined benefit liabilities (assets)
－ Actuarial losses arising from changes in financial assumptions 10,348 24,403
Contributions made 49,490 74,669
Benefits paid by the plan (63,755 ) (52,578 )
Loss from settlement - (10,168 )
Fair value of plan assets at December 31 $ 953,937 951,831
188
4) Expenses recognized in profit or loss
The expenses recognized in profit or loss of the Group were as follows:

2021 2020
Current service costs $ 50,125 50,937
Net interest of net liabilities for defined benefit obligations 7,334 12,554
$ 57,459 63,491
Operating expenses $ 57,459 63,491
5) Actuarial assumptions
The principal actuarial assumptions at the reporting date were as follows:
2021.12.31 2020.12.31
Discount rate 0.63%~2.57% 0.63%~1.70%
Future salary increases 3.00%~5.00% 3.00%~5.20%
The Group is expected allocation payment of $33,105 to the defined plans for the one‑year period after the
reporting date.
The weighted average duration of the defined benefit obligation is 12.59~19.64 years.
6) Sensitivity analysis
If the actuarial assumption had changed, the impact on the present value of the defined benefit obligation
shall be as follows:
Influences of defined benefit obligations
Increase 0.25% Decrease 0.25%
December 31, 2021
Discount rate (44,774 ) 43,788
Future salary increases 46,542 (42,423 )
December 31, 2020

Discount rate (50,881 ) 49,820
Future salary increases 52,977 (48,194 )
Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions holding other
assumptions constant, would have affected the defined benefit obligation by the amounts shown above. The
method used in the sensitivity analysis is consistent with the calculation of pension liabilities in the balance
sheets.
There is no change in the method and assumptions used in the preparation of sensitivity analysis for the years
ended December 31, 2021 and 2020.
2. Defined contribution plans
The Group allocates 6% of each employee’s monthly wages to the labor pension personal account at the Bureau
of the Labor Insurance in accordance with the provisions of the Labor Pension Act for Taiwan subsidiaries. Under
this defined contribution plan, the Group allocates a fixed amount to the Bureau of the Labor Insurance without
additional legal or constructive obligations. Grand Pacific Holding Corp. also allocates pension expense to the
labor pension personal account based on the employees' prior year wages at the specific allocating rate.
The Group’s pension costs under the defined contribution method were $329,639 and $230,042 for the years
ended December 31, 2021 and 2020, respectively. Payment was made to the Bureau of the Labor Insurance and
designated account.
189
(o) Income taxes
1.Income Tax Expense
The components of income tax expense for the years ended December 31, 2021 and 2020 were as follows:
2021 2020
Current tax expense
Current period $ 11,413,185 7,227,022
Adjustment for prior periods 34,380 8,961
11,447,565 7,235,983
Deferred tax expense 512,026 (108,910 )
Income tax expense from continuing operations $ 11,959,591 7,127,073
The components amount of income tax expense (profit) recognized in other comprehensive income for the
years ended December 31, 2021 and 2020 were as follows:
2021 2020
Items that will not be reclassified subsequently to profit or loss:
Remeasurement actuarial gains from defined benefit plans $ 13,193 845

2021 2020
Items that may be reclassified subsequently to profit or loss:
Foreign currency translation differences for foreign operations $ (31,370 ) (71,454 )
The income tax calculated on pre‑tax financial income was reconciled to income tax expense (profit) for the
years ended December 31, 2021 and 2020 as follows:
2021 2020
Profit before income tax $ 34,654,391 24,665,494
Income tax calculated on pre‑tax financial income at a statutory tax rate applied by
subsidiaries $ 9,560,928 7,542,923
Tax‑exempt income (2,907 ) 3,773
Non‑deductible expenses 435,595 (468,031 )
Change in temporary differences 1,931,595 39,447
Under provision in prior periods 34,380 8,961
Income tax expense $ 11,959,591 7,127,073
2. Deferred Tax Assets and Liabilities

1) Unrecognized Deferred Tax Liabilities
The Group is able to control the timing of the reversal of the temporary differences associated with
investments in subsidiaries as of December 31, 2021 and 2020. Also, management considers it probable that
the temporary differences will not reverse in the foreseeable future. Hence, such temporary differences are not
recognized under deferred tax liabilities. Details are as follows:
2021.12.31 2020.12.31
Aggregate amount of temporary differences related to investments in subsidiaries $ 9,993,757 7,375,327
Unrecognized deferred tax liabilities $ - 1,111,780
190
2) Unrecognized Deferred Tax Assets
Deferred tax assets have not been recognized in respect of the following items:
2021.12.31 2020.12.31

Tax effect of deductible temporary differences $ 4,221 1,064
Tax losses 341,227 338,777
$ 345,448 339,841
As of December 31, 2021, the expiry years of those loss carry forward benefits were as follows:
Year of loss Unused amount Year of expiry
2010 $ 883,178 2030
2011 403,309 2031
2012 221,727 2032
2013 50,209 2023&2033
2014 16,306 2024&2034
2015 1,555 2025
2016 125 2026
2017 134 2027
2018 93 2028
2019 390 2029
2020 3,758 2030
2021 105,932 2031
3) Recognized Deferred Tax Assets and Liabilities

Changes in the amount of deferred tax assets and liabilities for the years ended December 31, 2021 and 2020
were as follows:
Defined Benefit Unrealized gain on

Others Total
Plans investment income
Deferred Tax Liabilities:

Balance at January 1, 2021 $ - 2,771,296 233,709 3,005,005
Recognized in profit or loss - 769,044 53,269 822,313
Recognized in other comprehensive income -
- (63 ) (63 )
Effect in exchange rate - (87,483 ) (40 ) (87,523 )
Balance at December 31, 2021 $ - 3,452,857 286,875 3,739,732
Balance at January 1, 2020 $ 1,738 2,430,678 146,189 2,578,605
Recognized in profit or loss (1,738 ) 418,467 87,528 504,257
Effect in exchange rate - (77,849 ) (8 ) (77,857 )
Balance at December 31, 2020 $ - 2,771,296 233,709 3,005,005
191
Loss on
Defined Benefit
uncollectible Others Total
Plans
account
Deferred Tax Assets:
Recognized in profit or loss 458 420,732 (110,903 ) 310,287
Recognized in other comprehensive income (13,193 ) - 31,307 18,114
Effect in exchange rate (4,491 ) (66,883 ) (1,420 ) (72,794 )
Balance at December 31, 2021 $ 182,334 3,608,528 586,570 4,377,432
Recognized in profit or loss (2,601 ) 552,136 63,632 613,167
Recognized in other comprehensive income (845 ) - 71,454 70,609
Effect in exchange rate (1,476 ) 20,289 (9,709) 9,104
Balance at December 31, 2020 $ 199,560 3,254,679 667,586 4,121,825
(p) Share capital and other equity accounts

1.Share capital
1) As of December 31, 2021 and 2020, the Company’s authorized capital consisted of 2,500,000 thousand
shares with a par value of $10 (NT dollars) per share, which includes common stock and preferred stock.
As of December 31, 2021 and 2020, the issued common shares were worth $14,503,944 and $13,813,280,
respectively, and issued Series A Preferred Shares were worth $1,500,000. All the issued shares were fully paid,
and the preferred shares were recognized as equity.
Due to the capital needs for future development (including operating capital, investing in the subsidiaries
and repaying bank loans...etc.) the Board of Directors of the Company resolved to increase the Company’s
capital by issuing common shares of stock through the offering of global depositary receipts (GDRs) overseas
on August 10, 2017, and the offering was approved by the Financial Supervisory Commission (FSC) on
September 27, 2017. As of October 17, 2017, these global depositary receipts were priced at US$12.28 per
unit, and the Company issued 125,000,000 common shares of stock from the conversion of 25,000,000 units
of global depositary receipts. Each unit of global depositary receipts represents 5 common shares of stock.
The Company has listed global depositary receipts on the Euro multilateral trading facility market (Euro MTF
market) of the Luxembourg Stock Exchange.
Due to the capital needs for investing in subsidiaries and repaying bank loans, the board of directors of the
Company resolved to increase the Company’s capital by issuing common shares of stock through the offering
of GDRs overseas, and the offering was approved by the Financial Supervisory Commission (FSC) on August 3,
2012. As of October 9, 2012, these GDRs were priced at US$8.59 per unit, and the Company issued 120,000,000
common shares of stock from the conversion of 24,000,000 units of GDRs. Each unit of GDRs represents 5
common shares of stock.
As of December 31, 2021 and 2020, the Company has listed 172,856 and 160,880 units of GDRs, respectively,
on the Euro MTF market of the Luxembourg Stock Exchange. Major terms and conditions for GDRs were as
follows:
A. Exercise of voting rights
Holders of GDRs may exercise voting rights with respect to the common shares in the manner set out in
”Terms and Conditions of the Global Depositary Shares‑Voting Rights,” as such provisions may be amended
from time to time to comply with applicable ROC law.
B. Dividend distributions, pre‑emptive rights and other rights
Holders of GDRs have same rights on dividend distribution and share distribution as the Company’s existing
common shareholders.
192
2) Issuance of preferred shares
The shareholders’ meeting has approved the amended Articles of Incorporation on rights and obligations
of preferred shares on May 27, 2020. The Board of Directors approved the details issuing Series A Preferred
Shares on July 29, 2020. The Company issued 150,000 thousand Series A Preferred Shares with a par value of

$10 per share, which amounted to $15,000,000. The capital injection was approved by Financial Supervisory
Commission R.O.C. (Taiwan). The subscription date was September 7, 2020. All the share prices of the issued
shares have been received and all issued shares were registered and recognized as equity.
The rights and obligations of Series A Preferred Shares Issuance are listed as follows:
A. Due date: Perpetual,
B. Dividends: 3.8% per annum for Series A Preferred Shares (5‑year IRS 0.5625%+3.2375%) calculated pursuant
to issue price per share. Interest rate per annum will be reset on the day after the 5th anniversary of the issue
date (“Issue Date”) and the day after each subsequent 5‑year period hereafter. The pricing base date shall be
the first previous business day for financial institutions in Taipei. Record date for interest reset shall be the
second previous business day for financial institutions in Taipei. The 5‑year IRS rate shall be the arithmetic
mean of 5‑year IRS quotations as published by Reuter, TAIFXIRS and COSMOS3 at 11:00 a.m. of the day of
the pricing base date and reset record date (must be a business day for Taipei’s financial institutions). If the
above quotations cannot be obtained on reset record date, interest rate shall be decided by the issuer in
good faith and taken into account of reasonable market rate;
C. Dividend Distributions: Cash dividends shall be distributed annually at one time. Once the Company’s
audited financial reports have been acknowledged in the annual general meeting, the Board of Directors
shall set the record date for the distribution of Preferred Dividends of such financial year. Dividend
distribution for the years of issuance and redemption shall be calculated pursuant to actual outstanding
days of the given year;
D. Upon the final settlement of the Company’s annual accounts, if there are profits, the Company shall set
aside out of the profits for each financial year: (i) a reserve for payment of tax for the relevant financial year;
(ii) an amount to offset losses incurred in previous years; and (iii) a special surplus reserve as required by the
applicable securities authority under the Applicable Public Company Rules, and the remaining profits shall
be allocated first as the dividends of the Series A Preferred Shares ("Preferred Dividends") payable in such
financial year;
E. The Company has sole discretion on the distribution of Series A Preferred Dividends. In the event that
there are no profits or insufficient profits for distributing Preferred Dividends, or due to other necessary
considerations, the suspension of distributing Preferred Dividends shall not be deemed as an event of
default under any agreements and directions in relation to the issuance of such Preferred Shares;
F. The Series A Preferred Shares issued by the Company shall be non‑cumulative preferred shares. Any
undistributed Preferred Dividends or shortfalls in Preferred Dividends distributed shall not be cumulative
and shall cease to accrue and be payable, therefore no deferred payment will be paid in subsequent years
where there are earnings;
G. Excess Dividends Distribution: Except for the foregoing Preferred Dividends, the holders of the Series A
Preferred Shares ("Preferred Shareholders") are not entitled to participate in the distribution of cash or stock
dividends derived from earnings or capital reserves;
H. Priority of Claims in liquidation: Upon any voluntary or involuntary liquidation, dissolution or winding‑up
of the Company, any surplus assets of the Company available for distribution to Series A Preferred
Shareholders shall be first distributed to the Series A Preferred Shareholders. All Preferred Shareholders shall
rank pari passu and such distribution shall be capped at the respective issue amount;
I. Voting Rights and Election right: The Series A Preferred Shareholders shall have no voting rights and no
rights to vote on election of directors in a general meeting. Notwithstanding the foregoing, the Series A
Preferred Shareholders shall have voting rights in a separate meeting of the Series A Preferred Shares;
J. Conversion right: Series A Preferred Shares are not convertible to ordinary shares;
K. Redemption of preferred shares: The Series A Preferred Shareholders have no right to request the Company
to redeem the preferred shares they hold; Notwithstanding the foregoing, subject to compliance with the
Companies Law, the Company may, upon the approval by the Board of Directors, redeem all or a part of
the outstanding issued Series A Preferred Shares, at any time on the next business day after five years of
issuance, at the original issue price and on such terms as the Board of Directors may approve. The rights
and obligations set forth in the foregoing paragraphs shall remain unchanged to the unredeemed Series A
Preferred Shareholders.
193
2. Capital surplus
The components of capital surplus were as follows:
2021.12.31 2020.12.31
Share capital $ 30,852,945 30,852,945
Changes in equity of associates and joint ventures accounted for using equity
method 44,455 30,396
Issuance of convertible bonds 149,771 -
Others 3,046 623
$ 31,050,217 30,883,964
3. Retained earnings
According to the Articles of Association, the Company is required to appropriate earnings every accounting
year. The after‑tax earnings are initially used to offset cumulative losses, and then a special reserve and preferred
dividends are appropriated from the remainder. If there are profits of each financial year after combining
accumulated undistributed earnings in the previous years and setting aside a certain amount of remaining
profits of such financial year as a reserve for development purposes as the Directors may from time to time
deem proper pursuant to Article 121, to the extent permitted by the Companies Law, at least 25% of such
Annual Profits of such financial year shall be distributed as dividends, of which at least 30% shall be paid in cash,
as proposed by the Board of Directors and subject to approval of the shareholders' meeting.
1) Special reserve
According to the requlations of the Financial Supervisory Commission, a special reserve equal to the
debit balance of unrealized loss on financial instruments in the stockholders’ equity, is appropriated from
unappropriated retained earnings. When appropriating a special reserve for the first time, it is initially
appropriated from current earnings and any deficiency is appropriated from the undistributed earnings of
prior years. For the second year and years thereafter, the increase or decrease in the balance of unrealized loss
on financial instruments in subsequent year, as shown in the statement of changes in stockholders’ equity, is
either subject to further appropriation for special reserve, or reversed to retained earnings.
2) Earnings distribution
The Company's 2020 earnings distribution proposal has reached the statutory resolution threshold through
the electronic voting on May 25, 2021, and the Company held the shareholders' meeting on July 16, 2021.
During the shareholders' meetings on July 16, 2021 and May 27, 2020, the shareholders resolved to distribute
the 2020 and 2019 earnings. These earnings were appropriated as follows:
2020 2019
Amount Amount
Total Total
per share per share
amount amount
(TWD$) (TWD$)
Dividends distributed to common shareholders

Cash $ 5.0 6,906,640 4.6 6,109,720
Shares 0.5 690,664 0.4 531,280
Total $
7,597,304 6,641,000
Dividends distributed to preferred shareholders
Series A preferred shares 181,151 -
The amount of dividends on the distribution of earnings for 2021 yet to be resolved by the Board of Directors
and approved during the shareholders' meeting.
The information on prior years' distribution of the Company’s earnings can be accessed from the Market
Observation Post System on the internet.
194
4. Non‑controlling interests (net of tax)
2021 2020

Opening balance $ 4,483,130 4,176,058
Attributable to non‑controlling interests

Net income 1,051,040 681,222
Other comprehensive income (492,142 ) (190,700 )
Cash capital increase in subsidiary 2,213,652 134,708
Subsidiary distributes dividends to non‑controlling interests (337,413 ) (299,692 )
The Group purchases shares from non‑controlling interests (28,071 ) (18,466 )
Ending balance $ 6,890,196 4,483,130
(q) Earnings per share

The basic and diluted earnings per share were calculated as follows:
2021 2020
Profit attributable to the company $ 21,643,760 16,857,199
Dividends distributed to preferred shareholders series A preferred shares (181,151 ) -
Profit attributable to common stockholders of the Company $ 21,462,609 16,857,199

2021 2020
Profit attributable to common stockholders of the Company $ 21,462,609 16,857,199
Weighted average number of ordinary shares 1,450,394 1,450,394
Weighted average number of ordinary shares (Diluted) 1,450,412 1,450,416
Noted: Potential ordinary shares have no dilutive effect.

(r) Employee and board of directors compensation
According to the Articles of Association, if there are surplus profits, the annual surplus profits shall be allocated
in accordance with the following sequence and manner; however, if the Company has accumulated losses, such
accumulated losses shall first be offset against the annual profits:
a) Between 0.01% and 1% of the surplus profits before tax of each financial years as employees' compensation;
b) Not to exceed 0.1% of the surplus profits before tax of each financial year as directors' compensation.
For the years ended December 31, 2021 and 2020, the Company estimated its employees' remuneration
amounting to $3,531 and $2,532, and directors' remuneration amounting to $20,045 and $16,846, respectively.
These estimated amounts were calculated based on the net profit before tax, excluding the remuneration
to employees and directors of each period, multiplied by the percentage of remuneration to employees and
directors as specified in the Company's Articles. These remunerations were expensed under operating costs or
operating expenses during 2021 and 2020. The amounts, as stated in the condensed interim consolidated financial
statements, are identical to those of the actual distributions for 2021 and 2020. Related information would be
available at the Market Observation Post System website.
195
(s) Net other income and expenses
The components of net other income and expenses were as follows:
2021 2020
Net losses on disposal of foreclosed assets $ (142,161 ) (193,424 )
Net impairment losses on foreclosed assets (2,203 ) (2,695 )
Gain on doubtful debt recoveries 818,970 575,136
Effect of changes in lease contract - (93 )
Others 1,890 2
$ 676,496 378,926
(t) Other gains and losses

The components of other gains and losses were as follows:
2021 2020
Interest on lease liabilities $ (40,386 ) (53,046 )
Interest expense (1,602 ) -
Net foreign exchange (losses) gains (78,900 ) 16,893
Net (losses) gains on disposal of property, plant and equipment 2,789 (1,292 )
Net gains (losses) on disposal of available‑for‑sale financial assets 62,430 (4,301 )
Effect of changes in lease contract 119 622
Others 909,159 794,488
$ 853,609 753,364
(u) Financial instruments

1. Credit risks
1) Credit risks exposure
The carrying amounts of financial assets represented the maximum credit risk exposure of the Group. As
of December 31, 2021 and 2020, the maximum exposure to credit risks amounted to $646,770,176 and
$540,226,711, respectively.
The non‑performing loans (net of allowance for doubtful accounts) amounted to $59,898 and $72,658 as of
December 31, 2021 and 2020, respectively.
The loans and receivables originated by the Group and their related allowance for impairment at the reporting
date by geographic regions were as follows:
Taiwan China ASEAN Others Total
December 31, 2021

Gross loans and receivables:

Neither past due nor impaired
12‑month ECL $ 271,080,988 193,690,267 57,043,611 -
521,814,866
Lifetime ECL - 738,460 13,594,175 4,215,315 18,547,950
Past due or monitored
Lifetime ECL 1,020,917 75,146 3,556,145 238,921 4,891,129
Impaired
Lifetime ECL 5,505,115 3,715,248 2,695,189 101,829 12,017,381
Gross carrying amounts $ 277,607,020 198,219,121 76,889,120 4,556,065 557,271,326
Allowance for losses 5,154,514 4,878,398 2,486,292 101,320 12,620,524
Carrying amount $ 272,452,506 193,340,723 74,402,828 4,454,745 544,650,802
196
Taiwan
For the year ended December 31, 2021
12‑month Lifetime ECL‑not Lifetime ECL‑ credit
Total

ECL credit impaired impaired
Balance at January 1, 2021 $ 2,326,842 57,737 2,274,792 4,659,371
Impairment loss recognized 507,837 7,228 2,706,497 3,221,562
Transfer to lifetime ECL‑ credit impaired (5,033 ) - 5,033 -
Bad debts written‑off (9,623 ) - (2,701,692 ) (2,711,315 )
Others (7,479 ) (253 ) (7,372 ) (15,104 )
Balance at December 31, 2021 $ 2,812,544 64,712 2,277,258 5,154,514
China
12‑month Lifetime ECL‑not Lifetime ECL‑credit
Total
Impairment loss (profit) recognized 838,318 (17,487 ) 1,047,990 1,868,821
Transfer to lifetime ECL‑not credit impaired (24,761 ) 24,761 -
-
Transfer to lifetime ECL‑ credit impaired (486,248 ) - 486,248 -
Bad debts written‑off -
- (1,724,714 ) (1,724,714 )
Others (183,281 ) 770 146,674 (35,837 )
Balance at December 31, 2021 $ 3,271,333 21,259 1,585,806 4,878,398
ASEAN
Total
Balance at January 1, 2021 $ 363,194 713,674 1,463,045 2,539,913
Impairment loss (profit) recognized 719,698 (282,722 ) 835,645 1,272,621
-
Transfer to lifetime ECL‑ credit impaired (132,616 ) (27,075 ) 159,691 -
Bad debts written‑off (304 ) (859 ) (1,094,356 ) (1,095,519 )
Others (57,808 ) (40,267 ) (132,648 ) (230,723 )
Balance at December 31, 2021 $ 791,649 463,266 1,231,377 2,486,292
Others
Total
Balance at January 1, 2021 $ - 130,196 - 130,196
Impairment profit recognized - (26,750 ) - (26,750 )
Transfer to lifetime ECL‑ credit impaired - (259 ) 259 -
Others - (2,123 ) (3 ) (2,126 )
Balance at December 31, 2021 $ - 101,064 256 101,320
197
Taiwan China ASEAN Others Total
December 31, 2020

Gross loans and receivables:

Neither past due nor impaired
12‑month ECL $ 222,805,558 175,149,747 39,880,801 1,888,582 439,724,688
Lifetime ECL - 453,667 22,186,760 2,660,001 25,300,428
Past due or monitored
Lifetime ECL 1,505,295 66,578 3,386,129 114,292 5,072,294
Impaired
Lifetime ECL 5,613,794 3,460,553 2,605,782 115,346 11,795,475
Gross carrying amounts $ 229,924,647 179,130,545 68,059,472 4,778,221 481,892,885
Allowance for losses 4,659,371 4,770,128 2,539,913 130,196 12,099,608
Carrying amount $ 225,265,276 174,360,417 65,519,559 4,648,025 469,793,277
Taiwan
12‑month Lifetime ECL‑not Lifetime ECL‑ credit
Total
Impairment loss recognized 597,958 15,263 2,235,365 2,848,586
Bad debts written‑off (12,952 ) - (2,217,235 ) (2,230,187 )
Others (10,894 ) (355 ) (14,446 ) (25,695 )
Balance at December 31,2020 $ 2,326,842 57,737 2,274,792 4,659,371
China
Total
Impairment loss (profit) recognized 2,042,231 (7,062 ) 937,812 2,972,981
-
Transfer to lifetime ECL‑ credit impaired (1,349,194 ) - 1,349,194 -
Bad debts written‑off -
- (2,018,482 ) (2,018,482 )
Others 55,209 248 28,293 83,750
Balance at December 31,2020 $ 3,127,305 13,215 1,629,608 4,770,128
ASEAN
Total
Balance at January 1, 2020 $ 224,911 538,921 1,489,476 2,253,308
Impairment loss recognized 328,615 157,426 805,545 1,291,586
-
Transfer to lifetime ECL‑ credit impaired (88,189 ) (46,260 ) 134,449 -
Bad debts written‑off - (1,553 ) (886,475 ) (888,028 )
Others (11,191 ) (25,812 ) (79,950 ) (116,953 )
Balance at December 31,2020 $ 363,194 713,674 1,463,045 2,539,913
198
Others
Total

Balance at January 1, 2020 $ - 141,263 - 141,263
Impairment profit recognized - (5,089 ) - (5,089 )
Others - (5,978 ) - (5,978 )
Balance at December 31,2020 $ - 130,196 - 130,196
2) Loans and receivables which were neither past due nor impaired
The credit quality of the portfolio classified as loans and receivables neither past due nor impaired is under the
circumstances that borrowers are with good credit rate and have no overdue records.
3) Loans and receivables which were past due or monitored
Loans and receivables that were past due or monitored, includes loans and receivables with renegotiated
terms. Loans with renegotiated terms are due to the borrower’s deteriorating financial position and where the
Group has made concessions that it would not otherwise consider. Such activities include extended payment
arrangements, approved external debt management plans, deferring foreclosure, modification, loan rewrites
and/or deferral of payments pending a change in circumstances.
When loans and receivables of contractual interest or principal payments are past due, the Group considers
that impairment loss has not been incurred, because the level of collateral available exceeds the amounts
owed to the Group, or the overdue repayments are considered temporary issues.
The following table sets forth the aging of loans and receivables past due:
2021.12.31 2020.12.31
Past due up to 30 days $ 912,574 453,012
Past due from 31 to 90 days 3,633,918 3,517,659
Past due from 91 to 180 days 19,399 227,740
Past due over 180 days 325,238 873,883
$ 4,891,129 5,072,294
4) Impaired loans and receivables

Impaired loans and receivables are loans and receivables for which the Group determine that it will be unable
to collect part of principal and interest due according to the contracted terms of the loans and receivables.
199
2. Liquidity risks
The following are the contractual maturities of financial liabilities of the Group, including estimated interest
payments and excluding the impact of netting arrangements:
Carrying Contractual Less than 1 3 months to 1 More than 5
1 to 3 months 1 to 5 years On demand
amount cash flows month year years
December 31, 2021

Non‑derivative financial liabilities

Secured bank loans $ 64,357,890 66,648,154 4,055,289 7,706,905 28,953,299 25,796,682 135,979 -
Unsecured bank and other loans 279,729,842 286,969,594 27,874,513 22,530,046 66,922,815 163,811,407 4,595,296 1,235,517
Notes payable from securitization 9,139,941 9,235,250 724,413 1,336,992 2,946,330 4,227,515 -
-
Short‑term notes and bills payable 90,275,406 90,490,000 16,030,000 17,750,000 56,710,000 -
-
-
Bonds payables 55,437,038 58,525,266 102,057 115,259 6,496,971 43,535,904 8,275,075 -
Other payables 19,100,324 19,230,747 11,768,297 1,712,238 2,002,119 1,251,730 23,312 2,473,051
Deposits relating to collateral of
customers 60,708,819 60,780,736 396,074 1,031,751 9,784,197 47,704,720 70,427 1,793,567
Lease liabilities 5,063,103 5,769,764 62,388 115,243 483,580 1,283,700 3,803,934 20,919
Derivative financial liabilities

Financial liabilities for hedging 552,239 552,239 -
-
543,826 8,413 -
-
$ 584,364,602 598,201,750 61,013,031 52,298,434 174,843,137 287,620,071 16,904,023 5,523,054
December 31, 2020

Non‑derivative financial liabilities

Secured bank loans $ 73,952,387 77,014,876 3,239,499 7,549,279 35,001,195 30,991,526 185,594 47,783
Unsecured bank and other loans 204,145,766 210,085,482 22,516,647 20,347,098 36,372,271 126,707,400 3,855,365 286,701
Notes payable from securitization 10,434,751 10,822,774 729,702 1,400,490 2,327,865 2,036,603 4,328,114 -
Short‑term notes and bills payable 83,998,707 84,230,000 10,750,000 14,540,000 58,940,000 -
-
-
Bonds payables 35,645,100 38,304,512 53,512 1,845,300 3,483,574 31,126,846 1,795,280 -
Other payables 17,888,136 18,000,020 11,574,559 1,544,118 1,522,435 984,663 23,312 2,350,933
Deposits relating to collateral of
customers 54,646,385 54,662,814 700,116 880,634 9,225,422 42,426,547 137,805 1,292,290
Lease liabilities 4,222,448 4,901,831 55,656 108,659 476,653 1,156,903 3,103,960 -
Derivative financial liabilities

Financial liabilities for hedging 1,402,120 1,402,120 -
-
1,402,120 -
-
-
$ 486,335,800 499,424,429 49,619,691 48,215,578 148,751,535 235,430,488 13,429,430 3,977,707
The Group is not expecting that the cash flows included in the maturity analysis could occur significantly earlier
or at significantly different amounts.
200
3.Currency risks
1) Exposure to currency risks
The Group’s significant exposure to foreign currency risks was as follows:

2021.12.31
Foreign currency (In
Functional currency
thousands) Exchange rate
Financial assets
Monetary items
USD $ 94,302.27 USD ： TWD 27.6800 2,610,287
66,929.87 USD ： GBP 0.7421 1,852,619
3,642.08 USD ： VND 23,163 100,813
JPY 732,879.52 JPY ： USD 0.0087 176,258
EUR 133,980.66 EUR ： USD 1.1315 4,196,274
CNY 59,456.40 CNY ： USD 0.1569 258,279
HKD 172,815.25 HKD ： USD 0.1282 613,321
KHR 54,212,260.61 KHR ： USD 0.0068 368,335
SGD 16,783.78 SGD ： USD 0.7392 343,396
Financial liabilities
Monetary items
USD 2,259.30 USD ： VND 23,163 62,538
66,929.87 USD ： GBP 0.7421 1,852,619
JPY 150,000.00 JPY ： USD 0.0087 36,081
EUR 83,000.00 EUR ： USD 1.1315 2,599,553
HKD 160,000.00 HKD ： USD 0.1282 567,861
KHR 25,350,000.00 KHR ： USD 0.0068 172,236
SGD 18,000.00 SGD ： USD 0.7392 368,279
CNY 7,000.00 CNY ： USD 0.1569 30,409
201
2020.12.31
Foreign currency (In
Functional currency
thousands) Exchange rate
Financial assets
Monetary items
USD $ 9,532.54 USD ： TWD 28.4800 271,487
67,471.63 USD ： GBP 0.7321 1,921,592
3,736.29 USD ： VND 25,658 106,410
JPY 1,004,867.42 JPY ： USD 0.0097 277,645
EUR 136,227.74 EUR ： USD 1.2296 4,770,695
CNY 25,986.11 CNY ： USD 0.1537 113,741
KHR 45,530,593.42 KHR ： USD 0.0070 320,571
SGD 7,788.76 SGD ： USD 0.7570 167,926
Monetary items
USD 3,428.57 USD ： VND 25,658 97,646
67,471.63 USD ： GBP 0.7321 1,921,592
JPY 450,000.00 JPY ： USD 0.0097 124,315
EUR 91,000.00 EUR ： USD 1.2296 3,186,807
KHR 22,370,000.00 KHR ： USD 0.0070 157,353
SGD 8,000.00 SGD ： USD 0.7570 172,479
2) Sensitivity analysis
The Group’s exposure to foreign currency risk arises from foreign currency exchange fluctuations on cash and
cash equivalents, account receivables, and loans and borrowings. A 5% depreciation or appreciation of the
TWD against the USD and CNY on balance sheet date would have decreased or increased the net profit after
tax by $243,914 and $118,506, for the years ended December 31, 2021 and 2020, respectively. The analysis is
performed on the same basis for both years.
3) The foreign currency gain or loss on monetary items
Since the Group uses multiple functional currencies, the amounts for foreign currency gain or loss are
consolidated for presentation. For the years ended December 31, 2021 and 2020, the foreign currency (loss)
gain, including realized and unrealized, amounted to $(78,900) and $16,893, respectively.
202
4. Interest analysis
The Group’s financial assets and financial liabilities with interest rate exposure risk were as follows:
Fixed rate

Ending balance as of Effective More than Non‑interest
Total Floating rate Within 1 year 1~5 years
December 31, 2021 interest rate 5 years bearing
Financial assets

Cash and cash equivalents 0.63% $ 46,374,548 34,554,632 10,200,715 -
-
1,619,201
Debt securities 5.01% 30,571,542 -
9,178,699 21,392,843 -
-
Non‑hedging derivatives 4.45% 1,308,478 -
302,482 1,005,996 -
-
Total accounts receivables 9.82% 557,376,366 56,332,719 272,714,836 215,909,570 4,125,081 8,294,160
Financial assets for hedging 0.54% 309,278 - 7,381 301,897 -
-
635,940,212 90,887,351 292,404,113 238,610,306 4,125,081 9,913,361

Secured bank loans 4.10% 64,357,890 52,797,075 4,937,306 6,623,509 -
-
Unsecured bank and other loans 2.17% 279,729,842 128,429,327 58,357,660 88,413,793 4,529,062 -
Short‑term notes and bills payable 0.57% 90,275,406 5,670,702 84,604,704 -
-
-
Bonds payables 1.68% 55,437,038 -
5,668,215 35,794,255 8,100,000 5,874,568
Financial liabilities for hedging 2.73% 552,239 -
543,826 8,413 -
-
Notes payable from securitization 3.64% 9,139,941 -
4,912,426 4,227,515 -
-
Deposits relating to collateral of customers 0.04% 60,708,818 -
3,931,733 8,228,802 45,988 48,502,295
Lease liabilities 1.33% 5,063,103 -
606,096 1,150,355 3,306,652 -
565,264,277 186,897,104 163,561,966 144,446,642 15,981,702 54,376,863
Net exposure $ 70,675,935 (96,009,753) 128,842,147 94,163,664 (11,856,621) (44,463,502)
Fixed rate
Ending balance as of Effective More than Non‑interest
Total Floating rate Within 1 year 1~5 years
December 31, 2020 interest rate 5 years bearing
Financial assets

Cash and cash equivalents 0.85% $ 32,796,805 25,336,088 5,956,408 -
-
1,504,309
Debt securities 5.07% 18,773,053 -
5,847,283 12,925,770 -
-
Non‑hedging derivatives 3.59% 560,479 -
560,479 -
-
-
Total accounts receivables 9.75% 482,013,501 46,367,696 215,733,285 210,212,808 2,330,916 7,368,796
Financial assets for hedging 2.64% 118,697 -
118,697 -
-
-
534,262,535 71,703,784 228,216,152 223,138,578 2,330,916 8,873,105

Secured bank loans 4.51% 73,952,387 62,679,534 3,841,430 7,431,423 -
-
Unsecured bank and other loans 2.25% 204,145,766 78,438,499 49,325,571 72,633,613 3,748,083 -
Short‑term notes and bills payable 0.74% 83,998,707 8,682,121 75,316,586 -
-
-
Bonds payables 2.13% 35,645,100 -
4,481,095 29,414,005 1,750,000 -
Financial liabilities for hedging 2.61% 1,402,120 -
1,402,120 -
-
-
Notes payable from securitization 3.36% 10,434,751 -
6,204,536 287,425 3,942,790 -
Deposits relating to collateral of customers 0.22% 54,646,385 -
3,768,964 7,198,493 89,867 43,589,061
Lease liabilities 1.40% 4,222,448 -
579,678 1,015,330 2,627,440 -
468,447,664 149,800,154 144,919,980 117,980,289 12,158,180 43,589,061
Net exposure $ 65,814,871 (78,096,370) 83,296,172 105,158,289 (9,827,264) (34,715,956)
203
The Group’s sensitivity analysis in interest rates is based on the risk exposure to interest rates on the derivative
and non‑derivative financial instruments on the reporting date. For variable rate instruments, the sensitivity
analysis assumes the variable rate liabilities are outstanding for the whole year on the reporting date. The
Group’s accounting and financial department reported that the increases or decreases in interest rates and the
change in interest rate of 25 basis points has been determined as management's benchmark in assessing the
reasonableness of the changes in the interest rates.
If the interest rate increases or decreases by 0.25%, the Group's profit will decrease or increase by $173,981 and
$180,428 for the years ended December 31, 2021 and 2020, respectively. This analysis assumes that all other
variables remain constant.
5. Sensitivity analysis － equity price risk：
If the equity price changes, the impact to other comprehensive income, using the sensitivity analysis based on
the same variables except for the price index for both periods, will be as follows:
2021 2020
After‑tax other After‑tax After‑tax other After‑tax
Equity price at reporting date
comprehensive income profit (loss) comprehensive income profit (loss)
Increase7% $ 65,543 92,109 58,249 52,873
Decrease7% $ (65,543 ) (92,109 ) (58,249 ) (52,873 )
204
6. Fair value information
1) The Categories and Fair Values of Financial Instruments
The fair value of financial assets and liabilities at fair value through profit or loss, derivative financial

instruments used for hedging, and financial assets at fair value through other comprehensive income is
measured on a recurring basis. The following are the carrying amount and the fair value of the Group’s
financial assets and financial liabilities (including fair value hierarchy information). However, for financial
instruments not measured at fair value but whose carrying amount is estimated to be reasonably close to the
fair value, and lease liabilities cannot be reliably measured, disclosure of fair value information is not required:
December 31, 2021
Fair value
Book value Level 1 Level 2 Level 3 Total
Financial assets at fair value though profit or loss

Financial assets at fair value through profit or
loss, mandatorily measured at fair value $ 1,414,555 6,885 2,400 1,405,270 1,414,555
Financial assets for hedging 309,278 - 309,278 - 309,278
Financial assets at fair value through other

Domestic and foreign market (OTC) equity
securities 793,672 784,142 9,530 - 793,672
Measure the fair value of unquoted equity
instruments 136,991 - - 136,991 136,991
Sub‑total 930,663 784,142 9,530 136,991 930,663
Financial assets at amortized cost 30,493,766 -
-
-
-
Loans and receivable

Cash and cash equivalents 46,374,548 -
-
-
-
Accounts receivable 544,710,700 -
-
-
-
Other financial assets 4,382,343 -
-
-
-
Refundable deposits 2,891,225 -
-
-
-
Restricted bank deposits 3,765,392 -
-
-
-
Sub‑total 602,124,208 -
-
-
-
Total $ 635,272,470 791,027 321,208 1,542,261 2,654,496
Financial liabilities for hedging $ 552,239 - 552,239 - 552,239
Measurement of financial liabilities at amortized
cost

Secured bank loans 64,357,890 -

-
-
-
Unsecured bank and other loans 279,729,842 -
-
-
-
Notes payable from securitization 9,139,941 -
-
-
-
Short‑term notes and bills payable 90,275,406 -
-
-
-
Bonds payables 55,439,038 -
-
-
-
Other payables 19,100,324 -
-
-
-
Deposits relating to collateral of customers 60,708,819 -
-
-
-
Lease liabilities 5,063,103 -
-
-
-
Sub‑total 583,814,363 -
-
-
-
Total $ 584,366,602 - 552,239 - 552,239
205
December 31, 2020
Fair value
Book value Level 1 Level 2 Level 3 Total
Financial assets at fair value though profit or loss

Financial assets at fair value through profit or
loss, mandatorily measured at fair value $ 849,443 194,363 - 655,080 849,443
Financial assets for hedging 118,697 - 118,697 - 118,697
Financial assets at fair value through other

Domestic and foreign market (OTC) equity
securities 698,054 693,793 4,261 - 698,054
Measure the fair value of unquoted equity
instruments 130,307 - - 130,307 130,307
Sub‑total 828,361 693,793 4,261 130,307 828,361
Financial assets at amortized cost 18,697,957 -
-
-
-
Loans and receivable

Cash and cash equivalents 32,796,805 -
-
-
-
Accounts receivable 469,865,935 -
-
-
-
Other financial assets 2,903,336 -
-
-
-
Refundable deposits 628,703 -
-
-
-
Restricted bank deposits 3,443,074 -
-
-
-
Sub‑total 509,637,853 -
-
-
-
Total $ 530,132,311 888,156 122,958 785,387 1,796,501
Financial liabilities for hedging $ 1,402,120 -
1,402,120 -
1,402,120
Measurement of financial liabilities at amortized

cost
Secured bank loans 73,952,387 -
-
-
-
Unsecured bank and other loans 204,145,766 -
-
-
-
Notes payable from securitization 10,434,751 -
-
-
-
Short‑term notes and bills payable 83,988,707 -
-
-
-
Bonds payables 35,645,100 -
-
-
-
Other payables 17,888,136 -
-
-
-
Deposits relating to collateral of customers 54,646,385 -
-
-
-
Lease liabilities 4,222,448 -
-
-
-
Sub‑total 484,923,680 -
-
-
-
Total $ 486,325,800 -
1,402,120 -
1,402,120
2) Valuation Techniques for Financial Instruments not Measured at Fair Value

The Group’s valuation techniques and assumptions used for financial instruments not measured at fair value
are as follows:
A. Financial assets at amortized cost
If the quoted prices in active markets are available, the market price is established as the fair value.
However, if quoted prices in active markets are not available, the estimated valuation or prices used by
competitors are adopted.
B. Financial assets at amortized cost and financial liabilities measured at amortized cost
If there is quoted price generated by transactions, the recent transaction price and quoted price data is
used as the basis for fair value measurement. However, if no quoted prices are available, the discounted
cash flows are used to estimate fair values.
206
3) Valuation Techniques for Financial Instruments Measured at Fair Value
A. Non‑derivative Financial Instruments
If quoted prices in active markets are available, the prices are established as fair values. For the Group's

financial instruments that have no active markets, the fair values are determined as follows:
Beneficiary Certificate that Has No Quoted Prices: The discounted cash flow model is used to estimate fair
values. The main assumption for the model is to discount expected future cash flows by using a discount
rate that reflects the time value of money and risks.
Equity Instrument that Has No Quoted Prices: The net asset value method is used to estimate fair values.
The main assumption for the model is to use the net asset value per share as the measuring basis.
B. Derivative Financial Instruments
Derivative financial instruments are measured by using common valuation models such as discounted cash
flow model and Black‑Scholes model.
4) Change in Level 3 of the fair value's ledger
At fair value through
At fair value through
others comprehensive
profit or loss
income
Non‑derivative Unquoted equity
Total
financial assets instruments
Opening balance, January 1, 2021 $ 655,080 130,307 785,387
Total gains and losses recognized:
In profit or loss 50,494 - 50,494
In other comprehensive income - 10,291 10,291
Purchase 1,554,800 - 1,554,800
Disposal (852,405 ) (2,448 ) (854,853 )
Ending balance, December 31, 2021 $ 1,405,270 136,991 1,542,261
Opening balance, January 1, 2020 $ 88,399 121,029 209,428
In profit or loss 12,614 - 12,614
In other comprehensive income - 724 724
Purchase 850,860 10,000 860,860
Disposal (292,002 ) - (292,002 )
Ending balance, December 31, 2020 $ 655,080 130,307 785,387
For the years ended December 31, 2021 and 2020, total gains and losses arising from the valuation of
investments under Level 3 of the fair value hierarchy that were included in “other gains and losses” and
“unrealized gains and losses from financial assets measured at fair value through other comprehensive” were
as follows:
2021 2020
In profit or loss, and presented in “other gains and losses” 50,494 12,614
In other comprehensive income, and presented in “unrealized gains (losses)
from investments in equity instruments measured at fair value through other
comprehensive income” 10,291 724
207
5) The Quantified Information for Significant Unobservable Inputs (Level 3) Used in Fair Value Measurement
The Group’s financial instruments that use Level 3 inputs to measure fair values include fair value through
other comprehensive income‑equity investments and financial assets at fair value through profit or loss.
Most of these financial instruments using Level 3 inputs to measure fair values have only one significant
unobservable input.
Quantified information of significant unobservable inputs was as follows:
The Relationship
Significant between Significant
Item
Valuation Technique Non‑observable Input Non‑observable Input
and Fair Value
Financial assets at fair Net Asset Value Method ‧Net Asset Value ‧Not applicable
value through other comprehensive income ‑ investments
in equity instruments without active market
Financial assets at fair value through profit or loss without Black‑Scholes Model ‧Stock Return Volatility ‧The higher stock
active market (As of December 31, return volatility, the
2021and December higher the fair value
31, 2020, Stock
Return Volatility was
at 2.20%~5.74%
and 2.93%~5.47%,
respectively)
" Discounted Cash Flow ‧Discount Rate (As of ‧The higher the
Method December 31, 2021 discount rate, the
and December 31, lower the fair value
2020, Discount Rate
was at 0.76%~4.75%
and 0.76%~4.30%,
respectively)
6) Fair value measurements in Level 3 ‑ sensitivity analysis of reasonably possible alternative assumptions
For fair value measurements in Level 3, changing one or more of the assumptions to reflect reasonably
possible alternative assumptions would have the following effects:
Impact or Fair Value Change
on Net income or loss
Unfavorable
Input Variation Favorable Change
Change
December 31, 2021

Financial asset at fair value through profit or loss

Financial instruments without active market Discount Rate 10% $ 84 (84 )
〞 Stock Return Volatility 10% -
-
December 31, 2020 Financial asset at fair value

through profit or loss
Financial instruments without active market Discount Rate 10% $ 129 (129 )
〞 Stock Return Volatility 10% -
-
The favorable and unfavorable effects represent the changes in fair value, and fair value is based on a variety
of unobservable inputs calculated using a valuation technique. The analysis above only reflects the effects of
changes in a single input, and it does not include the interrelationships with another input.
(v) Financial risk management
1.Overview
The Group has exposures to the following risks from its financial instruments:
1) credit risk
2) liquidity risk
3) market risk
208
The following likewise discusses the Group’s objectives, policies and processes for measuring and managing the
above mentioned risks. For more disclosures about the quantitative effects of these risks exposures, please refer
to the respective notes in the accompanying consolidated financial statements.
2. Risk management framework

The Board of Directors has overall responsibility for the establishment and oversight of the Group’s risk
management framework. The Group’s Risk Management Committee has reports to the Board of Directors, is
responsible for the development of the Group‑wide risk management policy and related systems and controls.
The Risk Management Committee has established a set of risk management guidelines to which all subsidiaries
adhere. With these guidelines, subsidiaries develop their own risk management policies in accordance to
individual market conditions, operating environment and business needs. The Risk Management Committee
reviews and approves such policies prior to their adoption by the subsidiaries. Subsidiaries are required to
submit quarterly risk analysis reports to their respective board of directors and the Risk Management Committee.
The Group’s risk management policies are established to identify and analyze the risks faced by the Group, to
set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies
and systems are reviewed regularly to reflect changes in market conditions, products and services offered.
The Group, through its training and management standards and procedures, aim to develop a disciplined and
constructive control environment, in which all employees understand their roles and obligations.
The Group Audit Committee is responsible for monitoring compliance with the Group’s risk management
policies and procedures, and for reviewing the adequacy of the risk management framework in relation to the
risks faced by the Group. The Group Audit Committee is assisted in these functions by Internal Audit. Internal
Audit undertakes both regular and ad‑hoc reviews of risk management controls and procedures, the results of
which are reported to the Audit Committee.
3. Credit risk
Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails
to meet its contractual obligation. Credit risk can also arise from operational failures that result in unauthorized
or inappropriate advance, commitment or investment of funds. The Group is exposed to credit risk primarily
through its lease contracts, installment sales contracts, international and domestic factoring contracts, direct
finance and commercial real estate and mezzanine finance loans, guarantees and other commitments. In the
Group’s past experiences, the major causes of bad debts in its portfolio include:
1) non‑payment or delay in payment of customers’ downstream accounts
2) poor operating and financial performance due to macroeconomic factors
3) poor investment decisions made by customers
4) poor business management
5) higher default rate of private loans to small and medium enterprises
6) to a lesser extent, other factors, such as misappropriation by employees, malicious bankruptcies, sudden
tightening of credit lines from banks, debt burden resulting from guarantee obligations, litigation and major
exchange rate losses.
Each operating company in the Group is required to implement credit policies, procedures and lending
guidelines that meet local requirements while conforming to Group standards. Each operating company
is responsible for the quality and performance of all its credit portfolios and for monitoring and controlling
all credit risks in them. This includes managing its own risk concentration by market sector, geography and
product. Local systems are in place throughout the Group to control and monitor exposures by customer and
product segments.
4. Liquidity risk
Liquidity risk is the risk that the Group does not have sufficient financial resources to meet its obligations when
they fall due, or will have to do so at excessive cost. The risk can arise from mismatches in the timing of cash
flows. Funding risk arises when the necessary liquidity to fund illiquid asset positions cannot be obtained at the
expected terms and when required. The Group’s primary source of liquidity risk arises from mismatches in cash
flow in the maturity periods of the Group’s assets and liabilities.
The Group monitors the relative maturities between its assets and liabilities and take necessary steps to
maintain an appropriate balance of long‑term and short‑term funding sources. The Group uses a broad range of
financial instruments such as bank borrowings from both domestic and foreign banks, corporate bonds, money
market instruments, accounts receivable syndication and in both the United States, Thailand and Taiwan, asset
securitization, to maintain a diverse and cost efficient funding base. The Group believes it holds sufficient cash
to finance long‑term funding needs.
209
The management of liquidity and funding is primarily carried out locally by the Group operating entities in
each country. The Group requires its operating entities to maintain strong liquidity positions and to manage
its liquidity profiles of their assets, liabilities and commitments with the objective of ensuring that their cash
flows are balanced appropriately and that all their anticipated obligations can be met when due. The Group
adapts its liquidity and funding risk management framework in response to changes in the mix of business that
it undertakes, and to changes in the nature of the markets in which it operates. The Group has continuously
monitored the impact of recent market events on the Group’s liquidity position and has changed behavioral
assumptions where justified. The liquidity and funding risk management framework will continue to evolve as
the Group assimilates knowledge from the recent market events.
The Group’s liquidity and funding management process includes:
1) projecting cash flows under various stress scenarios and considering the level of liquid assets comprising
mainly cash and cash equivalents
2) maintaining a diverse range of funding sources with back‑up facilities
3) managing the concentration and profile of debt maturities
4) maintaining liquidity and funding contingency plans. These plans identify early indicators of stress conditions
and describe actions to be taken in the event of difficulties arising from systemic or other crises, while
minimizing adverse long‑term implications for the business.
The Group does not have a funding contingency plan, but manage this risk by engaging in products that have
high liquidity and entering into transactions with counterparties that possess sufficient facility, information and
capability to conduct the transaction in the relevant market.
The Group uses a number of standard projected cash flow scenarios designed to model both Group‑specific
and market‑wide liquidity crisis, in which the rate and timing of receipts and drawdowns on committed lending
facilities are varied, and the ability to access funding and to generate funds from assets portfolios is restricted.
The appropriateness of the assumptions under each scenario is regularly reviewed. In addition to the Group’s
standard projected cash flow scenarios, individual entities are required to design their own scenarios tailored to
reflect specific local market conditions, products and funding bases. Limit for cumulative net cash flows under
stress scenarios are set for each operating entities. Cash flows limits reflect the local market conditions and the
diversity of funding sources available. Compliance with entity level limits is monitored centrally by the head
office in Taiwan.
5.Market risk
Market risk is the risk that changes in market prices, such as interest rate, equity prices, foreign exchange
rates and credit spreads will affect the Group’s income or the value of its holdings of financial instruments.
The objective of market risk management is to manage and control market risk exposures within acceptable
parameters, while optimizing the return on risk.
1) Management of market risk
The objective of the Group’s market risk management is to manage and control market risk exposures in order
to optimize return on risk while maintaining a market profile consistent with the Group’s status as a provider
of financial products and services.
2) Currency risk
The Group is exposed to currency risk through transactions in foreign currencies and through its investment
on foreign operations. The Group’s main operations are in Taiwan, PRC, and Thailand. The functional currencies
of these operations are the New Taiwan Dollars, Renminbi, and Thai Baht respectively.
The Group is not exposed to significant exchange risk since the Group finances a significant proportion of its
net investment in foreign operations with borrowings in the same currencies as the relevant measurement
currencies to mitigate its currency risk. Further, the Group’s subsidiaries in respective countries fund their
operations through local funding in the local currency and lend in the same currency in which they borrow
money, which creates a natural hedge. The Group have only small portion of assets and liabilities held in
currencies other than the relevant measurement currencies in the respective countries.
3) Interest rate risk
Interest rate risk represents exposure to adverse movements in interest rates. The Group’s operations are
subject to the risk of interest rate fluctuations to the extent that interest‑earning assets, including investment
securities, and interest‑bearing liabilities mature or reprice at different times or in different amounts.
Sensitivity to interest rate movements arise from mismatches in the repricing dates, cash flows and other
characteristics of the assets and their corresponding liability funding. As interest rates and yield curves change
over time, the size and nature of these mismatches may result in a loss or gain in earnings. In particular, most
210
of the Group’s financing obligations are on short‑term and floating rate basis, and any sudden increase in
market interest rate will result in a corresponding increase in the Group’s debt servicing obligations.
The Group has adopted a series of core indicators for interest rate risk management, standards for interest
rate sensitivity gap analysis and guidelines for its interest rate risk management. The analysis of the Group’s

interest rate risk includes an assessment of the incremental gaps between interest‑sensitive assets and
liabilities and the results of sensitivity analysis to measure the potential exposures in the Group’s investment
portfolio as a result of an interest rate change. The Group manages its interest rate risk exposure by adjusting
the structure of its assets and liabilities based on an assessment of potential changes in interest rates using
gap analysis, which provides a measure of the repricing characteristics of the Group’s assets and liabilities. In
addition, the Group has entered into interest rate swap contracts with financial institutions that have good
credit ratings to manage its interest rate risk.
4) Other market price risks
The management of the Group monitors the combination of debts and equity securities in its investment
portfolio based on market index. Material investments within the portfolio are managed on an individual
basis, and all buy‑and‑sell decisions are approved by the Risk Management Committee.
(w) Capital Management
The Board’s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence
and to sustain future development of the business. In order to maintain or achieve an optimal capital structure, the
Group may issue new shares, obtain new borrowings, sell assets to reduce borrowings, or pay or adjust the amount
of dividend payment, return capital to shareholders.
The Group uses the debt‑to‑equity ratio to manage capital. The total capital and equity include share capital,
capital surplus, retained earnings, other equity and non‑controlling interest plus net debt of the Group. The
Group’s debt to equity ratio at the reporting date was as follows:
2021.12.31 2020.12.31
Total Liabilities $ 596,712,653 493,344,964
Less: cash and cash equivalents (46,374,548 ) (32,796,805 )
Net debt 550,338,105 460,548,159
Total Equity 116,514,263 99,978,870
Amounts accumulated in equity relating to cash flow hedges 726,308 502,825
Adjusted capital $ 667,578,676 561,029,854
Debt to equity ratio 82.43% 82.09%
As of December 31, 2021, according to the Company's management, there were no changes in the Group's
approach to capital management.
(x) Financing activities not affecting current cash flow
For the years ended December 31, 2021 and 2020, the Group’s investing and financing activities not affecting
current cash flow were as follows:
Reconciliation of liabilities arising from financing activities was as follows:
January 1, Cash Non‑cash December 31,
2021 flows adjustments 2021
Lease liabilities $ 4,222,448 (661,530 ) 1,502,185 5,063,103
Total liabilities from financing activities $ 4,222,448 (661,530 ) 1,502,185 5,063,103
January 1, Cash Non‑cash December 31,

2020 flows adjustments 2020
Lease liabilities $ 3,596,445 (600,074 ) 1,226,077 4,222,448
Total liabilities from financing activities $ 3,596,445 (600,074 ) 1,226,077 4,222,448
211
(7) Related party transactions
(a) The Company is the ultimate controlling party of the Group.
(b) Names and relationship of related parties
The followings are entities that have had related parties transactions during the periods covered in the
consolidated financial statements.
Name of related parties Relationship with the Group
C&E Engine Leasing Limited Associates
Andre J.L. Koo Director
Grand Pacific Investment & Development Co., Ltd. Other related party
Chailease Construction & Development Corp. 〞
Chaico Investment Corporation 〞
Yellowstone Security Co., Ltd. 〞
Yellowstone Service Co., Ltd. 〞
Chailease Resources Technology Co., Ltd. 〞
CITC Enterprise (Thai) Co., Ltd. 〞
Yellowstone Interior Design Company Limited 〞
Global Hospitality Group Inc. 〞
Global Property Management Co., Ltd. 〞
Chailease Foundation 〞
Advance Rental Care Co., Ltd. 〞
Qin An Investment Consulting (Shanghai) Co., Ltd. 〞
Shanghai Jiasheng Decoration Engineering Co., Ltd. 〞
Yujia Investment Management Consulting (Shanghai) Co., Ltd. 〞
Anywhere 2 Go Company Limited 〞
Bangkok Bank Public Company Limited 〞
Bangkok Insurance Public Company Limited 〞
Sathorn City Tower Property Fund 〞
Chailease Enterprise Co., Ltd. 〞
Chun An Investment Co., Ltd. 〞
Chun An Technology Co., Ltd. 〞
Chaico Biomedical Co., Ltd. Other related party
Jen Chung Co., Ltd. 〞
Shenyang Putai Hemodialysis Center Co., Ltd. 〞
Qiqihar Zhongtai Nephrotic Hospital Co., Ltd. 〞
Tonghua Zhongyi Hemodialysis Co., Ltd. 〞
Les Terroirs de Chailease Co., Ltd. 〞
Ezfunds Securities Investment Consulting Enterprise Ltd. 〞
Li Cheng Investment Co., Ltd. 〞
Chailease Biofund Company Limited 〞
Ysolar Co.,Ltd 〞
Tine Chuan Intelligent Energy Co.,Ltd. 〞
Yu Heng Intelligent Energy Co.,Ltd. 〞
Kai Yang Intelligent Energy Co., Ltd. 〞
Yao Kuang Intelligent Energy Co., Ltd. 〞
Yiyang Green Power Co., Ltd. 〞
212
(c) Related‑party transactions
1. Operating revenue
Operating revenue of the Group from the related parties was as follows:

2021 2020
Other related parties $ 44,555 41,031
2. Receivables from related parties

Receivables of the Group from related parties were as follows:
Categories of
Account 2021.12.31 2020.12.31
related parties
Leases receivable Other related parties $ 43,467 79,790
Accounts receivable Other related parties 1,530 92
Other receivables Other related parties 21,973 17,026
Other current financial assets Other related parties 1,246 1,581
Other non‑current assets Other related parties 123,448 1,921
$ 191,664 100,410
3. Payable to related parties

Payable to related parties was as follows:
Categories of
Account 2021.12.31 2020.12.31
related parties
Other current financial liabilities Other related parties $ 842 3,022
4. Asset transactions
The Group purchased leasehold improvements from other related parties amounting to $16,779 and $16,390 for
the years ended December 31, 2021 and 2020, respectively.
The Group purchased the shares of the subsidiary from the director of the Company for $18,527 for the year
ended December 31, 2020.
5. Related‑Party Financing
Financing to associates and related parties was as follows:
2021.12.31 2020.12.31
Associates $ 1,359,381 1,554,024
Other related parties 2,151,212 2,425
$ 3,510,593 1,556,449
The loans receivable from associates bear interest at rates ranging from 1.92% to 5.65%. As of December 31,
2021 and 2020, interest receivable from the loans receivable from associates amounted to $8,319 and $12,182,
respectively. For the years ended December 31, 2021 and 2020, interest revenue from the loans receivable from
associates amounted to $55,395 and $73,808, respectively.
The loans receivable from other related parties bear interest at rates ranging from 4.00% to 10.05%. As of
December 31, 2021 and 2020, interest receivable from the loans receivable from other related parties amounted
to $16,654 and $10, respectively. For the years ended December 31, 2021 and 2020, interest revenue from the
loans receivable from other related parties amounted to $71,522 and $586, respectively.
213
6. Interest bearing borrowings
Borrowings of the Group from related parties were as follows:
2021.12.31 2020.12.31
Other related parties $ 5,946,699 6,498,080
The borrowings from other related parties bear interest at rates ranging from 1.55% to 4.00%. As of December
31, 2021 and 2020, interest payable from the interest‑bearing borrowings from other related parties amounted
to $616 and $2,487, respectively. For the years ended December 31, 2021 and 2020, interest expense from the
interest‑bearing borrowing from other related parties amounted to $175,286 and $153,098, respectively.
7. Leases
1) The Group rented an office building from other related parties. Multiple lease contracts were signed with
lengths of three years, in which the rental fee was determined based on nearby office rental rates. The total
value of the contract was $76,630. For the years ended December 31, 2021 and 2020, the Group recognized
the amount of $1,428 and $1,189 as interest expense, respectively. As of December 31, 2021 and 2020, the
balance of lease liabilities amounted to $44,348 and $31,022, respectively.
2) For the years ended December 31, 2021 and 2020, rent expense is not included in rent liabilities that from
other related parties amounted to $1,577 and $5,875, respectively.
8. Others
1) As of December 31, 2021 and 2020 bank deposits in financial institutions which are other related parties of the
Group amounted to $338,786 and $393,111, respectively. For the years ended December 31, 2021 and 2020,
interest revenue from the deposits in other related parties amounted to $79 and $1,158, respectively.
2) The Group purchased debt securities‑real estate asset trust from its other related parties, with rates ranging
from 2.75% to 5.25% and the time to maturity is between 2022 and 2024. The investment balance from debt
securities amounted to $960,260 and $466,000 as of December 31, 2021 and 2020, respectively.
For the years ended December 31, 2021 and 2020, interest revenue from debt securities amounted to $20,589
and $6,930, respectively.
3) Other expense and profit with related parties:
Other related parties 2021 2020

Other operating costs and expenses $ 182,966 151,580
Other non‑operating income $ 5,504 4
(d) Key management personnel compensation

2021 2020
Short‑term employee benefits $ 349,643 336,522
Post‑employment benefits 8,572 20,253
Other long‑term benefits 11,040 -
$ 369,255 356,775
214
(8) Pledged assets
The carrying values of pledged assets were as follows:
Pledged assets Object 2021.12.31 2020.12.31

Restricted cash in banks

Restricted account for loans Issuance of short‑term notes and bills, and as $ 3,594,196 3,383,305
repayment guarantee for short‑term and long‑term borrowings;
as well as performance guarantee for alliance contracts
(Note)
Property, plant and equipment As guarantee for short‑term and long‑term borrowings 2,071,484 2,124,752
Refundable deposits Provincial court seizure, etc. 78,600 65,645
Accounts receivable and notes Issuance of short‑term notes and bills and as 103,054,757 121,034,457
receivable guarantee for short‑term and long‑term borrowings
Total $ 108,799,037 126,608,159
Note: The Group issued discount coupons for car rental services and opened a trust account with Sunny Bank in
accordance with mandatory and prohibitory provisions of the standard contracts for coupons.
(9) Commitments and contingencies

(a) The Group entered into alliances with several commercial banks for which the banks will provide direct financing
loans to the Group’s corporate and individual customers. Should these corporate and individual customers default
on their payments, the Group is required to assume their loan obligations and pay these loans on behalf of these
customers. As of December 31, 2021 and 2020, the balance of unexpired payments from these alliance transactions
amounted to $11,347,491 and $10,092,480, respectively.
(b) The Group entered into several electricity procurement agreements with Taiwan Power Company and all of these
agreements will expire on twenty years after the date the electricity generating sets are launched. Under these
agreements, reselling to third parties of electric power from the renewable energy system is prohibited.
(c) As of December 31, 2021 and 2020, the Group signed the unclosed contract of the installation and construction
project of solar power for $47,490,362 and $19,844,981, respectively. As of December 31, 2021 and 2020, the
amount of $40,162,124 and $16,497,158 was remained unpaid, respectively.
(10) Losses due to major disasters: None.
(11) Subsequent events: None.
(12) Other
(a) Liquidity analysis of assets and liabilities：
2021.12.31
Expected to be Expected to be
collected or paid collected or paid Total
within 12 months after12 months
Current assets
Cash and cash equivalents $ 46,374,548 - 46,374,548
Current financial assets at fair value through profit or loss 1,393,619 - 1,393,619
Current financial assets at amortized cost 9,100,923 13,219,771 22,320,694
Current financial assets for hedging 7,381 - 7,381
Accounts receivable, net 267,940,539 159,615,180 427,555,719
Other current financial assets 7,043,371 165,733 7,209,104
Other current assets 6,928,821 - 6,928,821
$ 338,789,202 173,000,684 511,789,886
215
2021.12.31
Current liabilities
Short‑term borrowings $ 66,335,264 - 66,335,264
Short‑term notes and bills payable 90,275,406 - 90,275,406
Current financial liabilities for hedging 543,826 - 543,826
Accounts and notes payable 6,269,742 8,880 6,278,622
Current tax liabilities 7,712,732 - 7,712,732
Current lease liabilities 606,096 702,176 1,308,272
Other current financial liabilities 23,420,941 38,693,730 62,114,671
Long‑term liabilities, current portion 103,223,063 80,766,971 183,990,034
Other current liabilities 5,345,095 - 5,345,095
$ 303,732,165 120,171,757 423,903,922
2020.12.31
Current assets
Cash and cash equivalents $ 32,796,805 - 32,796,805
Current financial assets at fair value through profit or loss 821,296 - 821,296
Current financial assets at amortized cost 5,778,510 8,640,435 14,418,945
Current financial assets for hedging 118,697 - 118,697
Accounts receivable, net 237,616,698 138,102,324 375,719,022
Other current financial assets 5,448,266 76,634 5,524,900
Other current assets 8,584,757 - 8,584,757
$ 291,165,029 146,819,393 437,984,422
Current liabilities

Short‑term borrowings $ 56,025,737 - 56,025,737
Short‑term notes and bills payable 83,998,707 - 83,998,707
Current financial liability for hedging 1,402,120 - 1,402,120
Accounts and notes payable 6,826,884 - 6,826,884
Current tax liabilities 3,011,666 - 3,011,666
Current lease liabilities 579,678 370,281 949,959
Other current financial liabilities 20,350,773 35,378,299 55,729,072
Long‑term liabilities, current portion 73,593,539 89,889,377 163,482,916
Other current liabilities 4,640,995 - 4,640,995
$ 250,430,099 125,637,957 376,068,056
216
(b) The employee benefits, depreciation and amortization expenses categorized by nature were as follows:
By function For the year ended December 31, 2021 For the year ended December 31, 2020
Operating Operating Operating Operating
By item

costs expenses Total costs expenses Total
Employee benefits

Salary -
7,871,641 7,871,641 17,917 7,243,970 7,261,887
Labor and health insurance - 512,755 512,755 955 368,820 369,775
Pension - 387,098 387,098 458 293,075 293,533
Others - 538,076 538,076 - 413,752 413,752
Depreciation 4,445,693 726,160 5,171,853 3,705,756 699,153 4,404,909
Amortization - 147,400 147,400 - 175,369 175,369
(13) Other disclosures

(a) Information on significant transactions
The information on significant transactions of the Group, which is required by the “Regulations Governing the
Preparation of Financial Reports by Securities Issuers”, for the year ended December 31, 2021 was as follows:
1. Fund loaning to other parties:
Financing Financing
Counter‑ Maximum Amount Nature of Allowance Collateral limits for each company's
Financing Related Ending Interest Transaction Reasons for
No. party Account balance actually financing for bad borrowing total financing
company party balance rate amount financing
(Note 4) for the year drawn (Note 1) debt Item Value company amount limits
(Note 2) (Note 3)
0 The Company Chailease Capital Accounts receivable Yes 3,281,525 -
- ‑% 2 -
Working Capital - None - 10,962,407 109,624,067
(Thailand) Co., Ltd
1 Chailease Finance A Accounts receivable No 933,100 475,100 475,100 0.01%~19.91% 2 -
Working Capital 4,228 None - 5,598,537 55,985,369
Co., Ltd.
〞〞 B Accounts receivable No 819,567 465,278 465,278 0.01%~19.91% 2 -
〞〞 C Accounts receivable No 341,500 341,500 341,500 0.01%~19.91% 2 -
〞〞 D Accounts receivable No 340,000 340,000 - 0.01%~19.91% 2 -
〞〞 E Accounts receivable No 257,300 257,300 257,300 0.01%~19.91% 1 257,300 2,290 None - 257,300 44,788,295
〞〞 E‑1 Accounts receivable No 73,280 73,280 73,280 0.01%~19.91% 2 -
Working Capital 652 None - 5,598,537 55,985,369
〞〞 F Accounts receivable No 249,810 249,810 249,810 0.01%~19.91% 1 1,658,000 2,223 None - 1,658,000 44,788,295
〞〞 G Accounts receivable No 245,000 245,000 199,100 0.01%~19.91% 2 -
〞〞 H Accounts receivable No 234,000 234,000 - 0.01%~19.91% 2 -
〞〞 I Accounts receivable No 210,000 209,730 209,730 0.01%~19.91% 2 -
〞〞 J Accounts receivable No 185,500 185,500 104,900 0.01%~19.91% 2 -
〞〞 K Accounts receivable No 184,400 183,732 183,732 0.01%~19.91% 2 -
〞〞 L Accounts receivable No 175,560 175,560 175,560 0.01%~19.91% 2 -
〞〞 M Accounts receivable No 150,000 150,000 150,000 0.01%~19.91% 2 -
Working Capital 1,335 Properties 272,754 5,598,537 55,985,369
〞〞 N Accounts receivable No 144,000 144,000 144,000 0.01%~19.91% 2 -
〞〞 O Accounts receivable No 142,654 142,654 93,154 0.01%~19.91% 2 -
〞〞 P Accounts receivable No 265,015 131,194 131,194 0.01%~19.91% 2 -
〞〞 Q Accounts receivable No 238,302 118,920 118,920 0.01%~19.91% 2 -
〞〞 R Accounts receivable No 210,056 114,818 114,818 0.01%~19.91% 1 584,290 1,022 Properties 46,940 584,290 44,788,295
〞〞 S Accounts receivable No 165,075 106,804 106,804 0.01%~19.91% 1 420,328 951 None - 420,328 44,788,295
〞〞 T Accounts receivable No 105,150 105,150 105,150 0.01%~19.91% 1 301,300 936 None - 301,300 44,788,295
〞〞 T‑1 Accounts receivable No 12,567 -
- 0.01%~19.91% 2 -
Working Capital -
Properties 7,743 5,598,537 55,985,369
217
Financing Financing
(Note 2) (Note 3)
1 Chailease Finance Summary of other Accounts receivable No 12,233,923 5,578,413 5,475,086 0.01%~19.91% 1 91,967,754 48,728 Bank Deposits/ 1,693,858 44,788,295 44,788,295
Co., Ltd. clients Stocks/
Properties
〞〞 Summary of other Accounts receivable No 55,225,240 29,153,475 26,897,295 0.01%~19.91% 2 - Working Capital 470,400 Bank Deposits/ 5,610,282 5,598,537 55,985,369
clients Stocks/ Fund/
Beneficiary
certificate/
Equipment/
Properties
〞〞 Chuang Ju Limited Accounts receivable Yes 1,000,000 -
- 0.01%~19.91% 2 - Working Capital - None - 13,996,342 55,985,369
Partnership
〞〞 Tung Ching Energy Accounts receivable Yes 3,240 -
- 0.01%~19.91% 2 -
Technology Inc.
〞〞 Tien Sin Intelligent Accounts receivable Yes 32,000 -
- 0.01%~19.91% 2 -
Green Energy Co.,
Ltd.
〞〞 Tien Jen Energy Co., Accounts receivable Yes 15,000 -
- 0.01%~19.91% 2 -
Ltd.
〞〞 Tien Chu Energy Co., Accounts receivable Yes 98,000 -
- 0.01%~19.91% 2 -
Ltd.
〞〞 Tien Ying Energy Co., Accounts receivable Yes 150,000 -
- 0.01%~19.91% 2 -
Ltd.
〞〞 Tien Jui Energy Co., Accounts receivable Yes 213,000 -
- 0.01%~19.91% 2 -
Ltd.
〞〞 Tien Hsing Accounts receivable Yes 1,797,296 1,797,296 1,797,296 0.01%~19.91% 2 -
〞〞 Chu Chiang Solar Accounts receivable Yes 31,000 31,000 31,000 0.01%~19.91% 2 -
Energy Inc.
〞〞 Ysolar Co., Ltd. Accounts receivable Yes 1,871,200 1,871,200 1,191,200 0.01%~19.91% 2 -
〞〞 Tien Chuan Accounts receivable Yes 186,000 186,000 186,000 0.01%~19.91% 2 -
Intelligent Energy
Co., Ltd.
〞〞 Yu Heng Intelligent Accounts receivable Yes 184,000 184,000 184,000 0.01%~19.91% 2 -
Energy Co., Ltd.
〞〞 Kai Yang Intelligent Accounts receivable Yes 123,000 123,000 123,000 0.01%~19.91% 2 -
Energy Co., Ltd.
〞〞 Yao Kuang Intelligent Accounts receivable Yes 110,000 110,000 110,000 0.01%~19.91% 2 -
Energy Co., Ltd.
〞〞 Yiyang Green Power Accounts receivable Yes 718,483 273,495 273,495 0.01%~19.91% 2 -
Co., Ltd.
〞〞 Chailease Accounts receivable Yes 83,000 83,000 83,000 0.01%~19.91% 1 932,000 739 None - 932,000 44,788,295
Construction and
Development
Company Co., Ltd.
2 Fina Finance & A Accounts receivable No 233,170 188,970 188,970 0.6382%~18.2288% 2 -
Trading Co., Ltd.
〞〞 A‑1 Accounts receivable No 59,040 54,120 54,120 0.6382%~18.2288% 1 30,000 541 Properties 316,810 60,000 13,599,256

〞〞 C‑1 Accounts receivable No 12,482 12,140 12,140 0.6382%~18.2288% 1 12,500 121 Properties 169,246 25,000 13,599,256
〞〞 D Accounts receivable No 287,696 180,544 180,544 0.6382%~18.2288% 2 -
〞〞 E Accounts receivable No 105,000 104,892 104,892 0.6382%~18.2288% 2 -
〞〞 F Accounts receivable No 88,000 88,000 88,000 0.6382%~18.2288% 2 -
Working Capital 880 Properties 128,444 2,266,543 22,665,426
218
Financing Financing

(Note 2) (Note 3)
2 Fina Finance &
H Accounts receivable No 124,391 69,138 69,138 0.6382%~18.2288% 2 -
Trading Co., Ltd.
〞〞 J Accounts receivable No 75,527 62,468 62,468 0.6382%~18.2288% 2 -
〞〞 Summary of other Accounts receivable No 15,002,852 7,446,666 7,357,166 0.6382%~18.2288% 2 -
Working Capital 121,679 Bank Deposits/ 2,298,028 2,266,543 22,665,426
clients Stocks/
Machinery
Equipment/
Properties/
Vehicles
〞〞 Summary of other Accounts receivable No 2,698,436 1,558,035 1,500,035 0.6382%~18.2288% 1 2,399,939 31,742 Machinery 267,231 4,799,878 13,599,256
clients Equipment/
Properties/
Vehicles
〞〞 Chuang Ju Limited Accounts receivable Yes 5,100,000 4,800,000 4,800,000 0.6382%~18.2288% 2 - Working Capital - None - 5,666,357 22,665,426
Partnership
3 Chailease Consumer A Accounts receivable No 223 -
- 2.10% 2 -
Working Capital - None - 673,516 6,735,159
Finance Co., Ltd.
〞〞 B Accounts receivable No 220 -
- 2.10% 2 -
〞〞 C Accounts receivable No 95 -
- 2.10% 2 -
〞〞 D Accounts receivable No 34 -
- 2.10% 2 -
〞〞 E Accounts receivable No 25 -
- 2.10% 2 -
〞〞 Chuang Ju Limited Accounts receivable Yes 1,500,000 1,500,000 1,000,000 2.10% 2 -
Partnership
4 Chailease A Receivable‑short No 92,769 59,465 59,465 3.85%~17.00% 2 -
International Finance term financing
Corporation
〞〞 B Receivable‑short No 60,695 40,061 40,061 3.85%~17.00% 2 -
Working Capital 555 Real estate 7,750 2,324,358 18,594,864
term financing
〞〞 C Receivable‑short No 39,096 35,838 35,838 3.85%~17.00% 2 -
term financing
〞〞 D Receivable‑short No 37,793 32,182 32,182 3.85%~17.00% 2 -
Working Capital 143 Real estate/ 3,362 2,324,358 18,594,864
term financing Vehicles
〞〞 E Receivable‑short No 32,580 28,960 28,960 3.85%~17.00% 2 -
Working Capital 248 Vehicles - 2,324,358 18,594,864
term financing
〞〞 F Receivable‑short No 34,752 28,960 28,960 3.85%~17.00% 2 -
term financing
〞〞 G Receivable‑short No 40,001 28,719 28,719 3.85%~17.00% 2 -
Working Capital 322 Equipment 6,094 2,324,358 18,594,864
term financing
〞〞 H Receivable‑short No 41,027 26,547 26,547 3.85%~17.00% 2 -
Working Capital 610 Vehicles 1,173 2,324,358 18,594,864
term financing
〞〞 I Receivable‑short No 26,064 23,168 23,168 3.85%~17.00% 2 -
term financing
〞〞 J Receivable‑short No 39,368 22,806 22,806 3.85%~17.00% 2 -
term financing
〞〞 K Receivable‑short No 50,499 22,806 22,806 3.85%~17.00% 2 -
term financing
〞〞 Summary of other Receivable‑short No 2,884,280 1,439,141 1,341,401 3.85%~17.00% 2 -
Working Capital 29,484 Vehicles/ 98,424 2,324,358 18,594,864
clients term financing Real estate/
Equipment/
Properties
〞〞 Summary of other Receivables‑business No 47,543 15,568 15,568 3.85%~17.00% 1 122,501 296 Vehicles/ 18,379 2,324,358 18,594,864
clients relationship Equipment
〞〞 Chailease Receivables from Yes 2,606,400 2,606,400 - 3.85%~17.00% 2 - - None - 11,621,790 18,594,864
International Corp. related party
219
Financing Financing
(Note 2) (Note 3)
4 Chailease Chailease Finance Receivables from Yes 1,303,200 -
- 3.85%~17.00% 2 -
International Finance International Corp. related party
Corporation
〞〞 JonRuei Finance Receivables from Yes 868,800 -
- 3.85%~17.00% 2 -
Corporation. related party
〞〞 Chailease Receivables from Yes 868,800 868,800 - 3.85%~17.00% 2 -
International related party
Commercial
Factoring
Corporation
5 Chailease Specialty A Accounts receivable No 298,000 298,000 264,550 0.88%~13.08% 2 -
Working Capital 1,455 None - 667,002 2,668,007
Finance Co., Ltd.

Working Capital 825 None - 667,002 2,668,007
Working Capital 440 Funds 3,521 667,002 2,668,007
Beneficiary
Certification
〞〞 H Accounts receivable No 145,000 50,000 50,000 0.88%~13.08% 2 -
〞〞 J Accounts receivable No 51,500 31,500 - 0.88%~13.08% 2 -
〞〞 Summary of other Accounts receivable No 1,264,172 197,350 197,350 0.88%~13.08% 2 -
Working Capital 6,051 Properties 15,998 667,002 2,668,007
clients
6 Chailease Finance A Accounts receivable No 3,973 3,973 3,973 4.00%~14.81% 2 -
Working Capital 3,377 Bank Deposits 3,000 53,301 533,015
Securitization Trust
2019
〞〞 B Accounts receivable No 9,315 2,159 2,159 4.00%~14.81% 1 29,772 17 None - 29,772 512,134
〞〞 C Accounts receivable No 5,551 1,679 1,679 4.00%~14.81% 1 20,000 13 None - 20,000 512,134
〞〞 D Accounts receivable No 7,476 1,479 1,479 4.00%~14.81% 1 27,049 12 None - 27,049 512,134
〞〞 E Accounts receivable No 4,939 1,295 1,295 4.00%~14.81% 1 15,612 10 None - 15,612 512,134
〞〞 F Accounts receivable No 3,474 699 699 4.00%~14.81% 1 7,000 6 Bank Deposits 650 7,000 512,134
〞〞 G Accounts receivable No 3,006 675 675 4.00%~14.81% 1 5,507 5 None - 5,507 512,134
〞〞 G‑1 Accounts receivable No 5,290 -
- 4.00%~14.81% 2 -
Working Capital -
Bank Deposits 3,600 53,301 533,015
〞〞 H Accounts receivable No 3,765 539 539 4.00%~14.81% 1 57,119 4 Bank Deposits 1,300 57,119 512,134
〞〞 I Accounts receivable No 4,019 494 494 4.00%~14.81% 1 8,206 4 None - 8,206 512,134
〞〞 J Accounts receivable No 11,478 464 464 4.00%~14.81% 1 140,243 4 None - 140,243 512,134
〞〞 Summary of other Accounts receivable No 421,471 -
- 4.00%~14.81% 2 -
Working Capital -
Bank Deposits 117,925 53,301 533,015
clients
〞〞 Summary of other Accounts receivable No 188,984 702 702 4.00%~14.81% 1 1,357,621 7 Bank Deposits 69,450 512,134 512,134
clients
7 Chailease Chailease Receivables from Yes 868,800 -
- 3.85% 2 -
International Corp. International Finance related party
Corporation
〞〞 Chailease Finance Receivables from Yes 434,400 -
- 3.85% 2 -
International Corp. related party
8 Chailease Finance Chailease Receivables from Yes 868,800 -
- 3.85% 2 -
International Corp. International Finance related party
Corporation
220
Financing Financing

(Note 2) (Note 3)
8 Chailease Finance Chailease Receivables from Yes 868,800 -
- 3.85% 2 -
International Corp. International Corp. related party
9 Chailease Auto A Accounts receivable No 7,000 6,115 6,115 3.56%~10.57% 1 8,829 24 Vehicles 7,000 8,829 1,016,287
Rental Co., Ltd.
Working Capital 17 Vehicles 4,350 169,381 677,524
〞〞 H Accounts receivable No 1,700 1,228 1,228 3.56%~10.57% 2 -
Working Capital 5 Vehicles 800 169,381 677,524
〞〞 J Accounts receivable No 2,000 1,200 1,200 3.56%~10.57% 1 4,463 5 Vehicles 1,400 4,463 1,016,287
〞〞 Summary of other Accounts receivable No 4,435 3,643 3,643 3.56%~10.57% 1 20,505 14 Vehicles 3,740 20,505 1,016,287
clients
〞〞 Summary of other Accounts receivable No 19,465 10,500 10,500 3.56%~10.57% 2 -
clients
10 Chailease Chailease Receivables from Yes 86,880 -
- 3.85% 2 -
Working Capital - None - 89,276 89,276
International International Finance related party
Commercial Corporation
Factoring
Corporation
Note 1: (1) Those with business relationship please fill in 1;
(2) Those necessary for short‑term financing please fill in 2.
Note 2: Limit on the amount for loaning fund to individual counterparty
(0) The Company － The maximum fund loaning provided by Chailease Holding Company Limited for
individual entity cannot exceed $10,962,407, which is 10% of the net worth.
(1) Subsidiary － The maximum fund loaning provided by Chailease Finance Co., Ltd. for necessary
short‑term financing to individual entity cannot exceed $5,598,537, which is 10% of the net worth.
The maximum fund loaning cannot exceed $13,996,342, which is 25% of the net worth to individual
associate. The maximum fund loaning for business relationship cannot exceed the trading amount
between Chailease Finance Co., Ltd. and other companies during the latest operating cycle.
(2) Subsidiary － The maximum fund loaning provided by Fina Finance & Trading Co., Ltd. for
necessary short‑term financing to individual entity cannot exceed $2,266,543, which is 10% of the
net worth. The maximum fund loaning cannot exceed $5,666,357, which is 25% of the net worth
to domestic subsidiaries and affiliated companies whose shares are 100% held directly or indirectly
by Fina Finance & Trading Co., Ltd. The maximum fund loaning for business relationship cannot
exceed the trading amount between Fina Finance & Trading Co., Ltd. and other companies during
the latest operating cycle.
(3) Subsidiary － The maximum fund loaning provided by Chailease Consumer Finance Co., Ltd. for
necessary short‑term financing to individual entity cannot exceed $673,516, which is 10% of the
net worth. The maximum fund loaning cannot exceed $1,683,790, which is 25% of the net worth to
domestic subsidiaries and affiliated companies whose shares are 100% held directly or indirectly by
Chailease Consumer Finance Co., Ltd. The maximum fund loaning for business relationship cannot
exceed the trading amount between Chailease Consumer Finance Co., Ltd. and other companies
during the latest operating cycle.
(4) Subsidiary － The maximum fund loaning provided by Chailease International Finance Corporation
for individual entity cannot exceed $2,324,358, which is 5% of the net worth. The maximum fund
loaning cannot exceed $11,621,790, which is 25% of the net worth to individual associate.
(5) Subsidiary － The maximum fund loaning provided by Chailease Specialty Finance Co., Ltd. for
necessary short‑term financing to individual entity cannot exceed $667,002, which is 10% of the
net worth. The maximum fund loaning for business relationship cannot exceed the trading amount
between Chailease Specialty Finance Co., Ltd. and other firm during the latest operating cycle.
221
(6) Special purpose entities － The maximum fund loaning provided by Chailease Finance
Securitization Trust 2019 for necessary short‑term financing to an individual entity cannot exceed
$53,301, which is 1% of the securitized financial assets approved by the competent authority.
The maximum fund loaning for business relationship cannot exceed the trading amount of
Securitization Trust during the latest operating cycle.
(7) Subsidiary － The maximum fund loaning provided by Chailease International Corp. for individual
entity cannot exceed $213,418, which is 5% of the net worth. The maximum fund loaning cannot
exceed $1,067,089, which is 25% of the net worth to individual associate.
(8) Subsidiary － The maximum fund loaning provided by Chailease Finance International Corp.
for individual entity cannot exceed $293,678, which is 5% of the net worth. The maximum fund
loaning cannot exceed $1,468,391, which is 25% of the net worth to individual associate.
(9) Subsidiary － The maximum fund loaning provided by Chailease Auto Rental Co., Ltd. for necessary
short‑term financing to individual entity cannot exceed $169,381, which is 10% of the net worth.
The maximum fund loaning for business relationship cannot exceed the trading amount of
Chailease Auto Rental Co., Ltd. and other firms during the latest operating cycle.
(10) Subsidiary － The maximum fund loaning provided by Chailease International Commercial
Factoring Corporation for individual associate cannot exceed $89,276, which is 40% of the net
worth. The maximum fund loaning cannot exceed $11,160, which is 5% of the net worth to individual
entity.
Note 3: Limit on the amount for loaning fund
(0) The Company － The total amount of fund loaning provided by Chailease Holding Company
Limited cannot exceed $109,624,067, which is the net worth; the total amount of fund loaning for
short‑term financing cannot exceed $43,849,627, which is 40% of the net worth of the most recent
financial statement.
(1) Subsidiary － The total amount of fund loaning provided by Chailease Finance Co., Ltd. for
short‑term financing cannot exceed $55,985,369 which is the net worth of the most recent
financial statement. The total amount of fund loaning for business relationship cannot exceed
$44,788,295, which is 80% of the net worth.
(2) Subsidiary － The total amount of fund loaning provided by Fina Finance & Trading Co., Ltd.
for short‑term financing cannot exceed $22,665,426, which is the net worth of the most recent
(3) Subsidiary － The total amount of fund loaning provided by Chailease Consumer Finance Co.,
Ltd. for short‑term financing cannot exceed $6,735,159, which is the net worth of the most recent
(4) Subsidiary － The total amount of fund loaning provided by Chailease International Finance
Corporation cannot exceed $18,594,864, which is 40% of the net worth of the most recent financial
statement.
(5) Subsidiary － The total amount of fund loaning provided by Chailease Specialty Finance Co., Ltd.
for short‑term financing cannot exceed $2,668,007, which is 40% of the net worth of the most
recent financial statement. The total amount of fund loaning for business relationship cannot
exceed $5,336,013, which is 80% of the net worth.
(6) Special purpose entities － The total amount of fund loaning provided by Chailease Finance
Securitization Trust 2019 cannot exceed $1,045,149 which is the book value of the subordinated
debt securities; the total amount of fund loaning for short‑term financing cannot exceed $533,015,
which is 10% of the securitized financial assets approved by the competent authority. The total
amount of fund loaning for business relationship cannot exceed $512,134. Which is the book value
mentioned above minus 10% of the securitized financial assets.
(7) Subsidiary － The total amount of fund loaning provided by Chailease International Corp. cannot
exceed $1,707,343, which is 40% of the net worth of the most recent financial statement.
(8) Subsidiary － The total amount of fund loaning provided by Chailease Finance International Corp.
cannot exceed $2,349,426, which is 40% of the net worth of the most recent financial statement.
(9) Subsidiary － The total amount of fund loaning provided by Chailease Auto Rental Co., Ltd. for
short‑term financing cannot exceed $677,524, which is 40% of the net worth of the most recent
(10) Subsidiary － The total amount of fund loaning provided by Chailease International Commercial
Factoring Corporation cannot exceed $89,276, which is 40% of the net worth of the most recent
financial statement.
222
Note 4: Counterparties
(1) The Company － Chailease Holding Company Limited: There is 1 counterparty during the period.
(2) Subsidiary － Chailease Financial Co., Ltd.: There are 6,901 counterparties altogether during the
period, the above table only disclosed the related parties and the top 20 counterparties.

(3) Subsidiary － Fina Finance & Trading Co., Ltd.: There are 978 counterparties altogether during the
period, the above table only disclosed the related parties and the top 10 counterparties.
(4) Subsidiary － Chailease Consumer Finance Co., Ltd.: There are 6 counterparties altogether during
the period.
(5) Subsidiary － Chailease International Finance Corporation: There are 252 counterparties altogether
during the period, the above table only disclosed the related parties and the top 10 counterparties.
(6) Subsidiary － Chailease Specialty Finance Co., Ltd.: There are 68 counterparties altogether during
the period, the table above only disclosed the related parties and the top 10 counterparties.
(7) Special purpose entities － Chailease Finance Securitization Trust 2019: There are 184
counterparties altogether during the period, the above table only disclosed the related parties and
the top 10 counterparties.
(8) Subsidiary － Chailease International Corp.: There are 2 counterparties during the period.
(9) Subsidiary － Chailease Finance International Corp.: There are 2 counterparties during the period.
(10) Subsidiary － Chailease Auto Rental Co., Ltd.: There are 37 counterparties during the period, the
above table only disclosed the related parties and the top 10 counterparties.
(11) Subsidiary － Chailease International Commercial Factoring Corporation: There is 1 counterparty
during the period.
(12) Chailease Consumer Finance Co., Ltd. is the limited partner of Chuang Ju Limited Partnership.
Note 5: Subject to the contracts, we use letters instead of the real name of counterparties.
223
2. Guarantees and endorsements for other parties:
Counter‑party Limitation on Amount of Ratio of accumulated

Maximum Guarantee
Endorsement/ endorsement/ Maximum Amount endorsement/ endorsement/ Guarantee Guarantee
Nature of guarantee amount Ending endorsement provided to
No. guarantee balance for actually guarantee guarantee to net equity provided by provided by a
Name relationship provided to each balance guarantee amount subsidiaries in
provider the year drawn collateralized by per latest financial parent company subsidiary
(Note1) guaranteed party allowance Mainland China
properties statements
0 The Company Chailease 2 219,248,134 68,286,850 68,286,850 47,448,664 - 62.29% 548,120,335 Y Y
International
Finance
Corporation
〞〞 Chailease 2 219,248,134 1,141,400 1,107,200 -
- 1.01% 548,120,335 Y
International
Company
(Malaysia)
Limited
〞〞 Chailease 2 54,812,034 13,972,828 13,972,828 8,386,878 - 12.75% 548,120,335 Y
Berjaya Credit
Sdn. Bhd.
〞〞 Chailease Royal 2 54,812,034 3,994,900 3,653,760 1,064,750 - 3.33% 548,120,335 Y
Leasing Plc.
〞〞 Chailease Royal 2 54,812,034 4,096,640 4,096,640 2,104,587 - 3.74% 548,120,335 Y
Finance Plc.
〞〞 Chailease 2 54,812,034 1,946,015 1,793,255 324,392 - 1.64% 548,120,335 Y
Berjaya Finance
Corporation
1 Chailease Chailease Auto 2 111,970,738 5,865,200 5,865,200 4,740,000 - 10.48% 279,926,845 Y
Finance Co., Rental Co., Ltd.
Ltd.
〞〞 Chailease 2 111,970,738 5,695,000 5,595,000 1,775,000 - 9.99% 279,926,845 Y
Consumer
Finance Co., Ltd.
〞〞 Chailease 2 111,970,738 300,000 300,000 -
- 0.54% 279,926,845 Y
Specialty
Finance Co., Ltd.
〞〞 Chailease 2 111,970,738 16,202,441 16,115,755 9,578,978 - 28.79% 279,926,845 Y
International
Leasing
Company
Limited
〞〞 Chailease 2 111,970,738 1,113,258 1,092,385 465,164 - 1.95% 279,926,845 Y
International
Trading
Company
Limited
〞〞 Yun Tang Inc. 2 111,970,738 1,721,720 1,663,691 1,153,691 - 2.97% 279,926,845 Y
〞〞 Chailease Credit 2 111,970,738 36,000 36,000 8 - 0.06% 279,926,845 Y
Services Co., Ltd
〞〞 Chailease Energy 2 111,970,738 780,000 430,000 200,000 - 0.77% 279,926,845 Y
Integration Co.,
Ltd.
〞〞 Chailease Power 2 111,970,738 1,400,000 1,100,000 802,350 - 1.96% 279,926,845 Y
Technology Co.,
Ltd.
〞〞 Chung Ho 2 111,970,738 20,000 20,000 -
- 0.04% 279,926,845 Y
Energy
Integration Co.,
Ltd.
〞〞 Chung Yen 2 111,970,738 270,000 270,000 -
- 0.48% 279,926,845 Y
Energy
Integration Co.,
Ltd.
224
Counter‑party Limitation on Amount of Ratio of accumulated
Maximum Guarantee
Endorsement/ endorsement/ Maximum Amount
endorsement/ endorsement/ Guarantee Guarantee
Nature of guarantee amount Ending endorsement provided to
No. guarantee balance for actually
guarantee guarantee to net equity provided by provided by a
Name relationship provided to each balance guarantee amount subsidiaries in
provider the year drawn
collateralized by per latest financial parent company subsidiary
allowance Mainland China

(Note1) guaranteed party properties statements
1 Chailease Chung Cheng 2 111,970,738 20,000 20,000 -
- 0.04% 279,926,845 Y
Finance Co., Energy
Ltd.
〞〞 Ho Lien Energy 2 111,970,738 20,000 20,000 -
- 0.04% 279,926,845 Y
Integration Co.,
Ltd
〞〞 Tai Yuan Energy 2 111,970,738 950,000 950,000 186,041 - 1.70% 279,926,845 Y
Integration Co.,
Ltd.
〞〞 Tien Sin 2 111,970,738 3,053,777 3,053,777 199,605 - 5.45% 279,926,845 Y
Intelligent Green
Energy Co., Ltd.
〞〞 Tien Jen Energy 2 111,970,738 3,209,350 3,042,855 -
- 5.44% 279,926,845 Y
Co., Ltd.
〞〞 Tien Chu Energy 2 111,970,738 3,250,224 3,250,224 276,959 - 5.81% 279,926,845 Y
Co., Ltd.
〞〞 Tien Ying Energy 2 111,970,738 6,533,994 6,533,994 485,951 - 11.67% 279,926,845 Y
Co., Ltd.
〞〞 Tien Jui Energy 2 111,970,738 3,209,150 3,209,150 169,150 - 5.73% 279,926,845 Y
Co., Ltd.
〞〞 Grand Pacific 2 109,624,067 3,081,780 2,768,000 760,508 - 4.94% 279,926,845
Financing Corp.
〞〞 Chailease 2 109,624,067 24,452,928 13,599,184 11,598,707 - 24.29% 279,926,845
International
Financial
Services Co., Ltd.
〞〞 Chailease 2 109,624,067 27,440,797 27,440,797 18,404,660 - 49.01% 279,926,845
International
Financial
Services
(Singapore) Pte.
Ltd.
2 Asia Sermkij Bangkok Grand 2 15,450,649 238,900 -
-
- -% 38,626,623 Y
Leasing Public Pacific Lease
Co., Ltd. Public Company
Limited
3 Chailease Chailease 2 92,974,319 17,070,541 17,070,541 8,497,727 - 36.72% 232,435,798 Y Y
International International
Finance Corp.
Corporation
〞〞 Chailease 2 92,974,319 10,561,247 10,198,279 6,412,832 - 21.94% 232,435,798 Y Y
Finance
International
Corp.
4 Grand Pacific Grand Pacific 2 1,065,749 85,605 83,040 -
- 3.70% 1,065,749 Y
Holding Corp. Financing Corp.
5 Yun Tang Inc. Chailease 2 1,516,818 4,177 3,740 3,740 - 0.74% 2,528,030 Y
Finance Co., Ltd.
Note 1: (1) The Company has business with the receiving parties.
(2) The Company holds directly or indirectly more than 50% of the common stock of the subsidiaries.
(3) The Company hold directly or indirectly more than 50% by the investee.
(4) The stockholders of the Company provide guarantee for the investee to their stockholding
percentage.
(5) Others: According to the Regulations Governing Loaning of Funds and Making of guarantees and
endorsements by Public Companies article 5, paragraph 2, guarantees made between companies
in which the public company holds, directly or indirectly, 100% of the voting shares have no
restriction on the guarantees amount.
225
Note 2: If the financial statements included contingent loss, the amount stated shall be indicated.
Note 3: The maximum guarantees and endorsements cannot exceed five times of net worth of the Company.
The maximum guarantees and endorsements for individual counterparty cannot exceed 50% of net
worth of the Company. The amount of guarantees and endorsements for the subsidiaries in which
be hold more than 80% of its outstanding common shares cannot exceed twice of net worth of the
Company.
Note 4: Subsidiary － The total amount of guarantees and endorsements provided by Chailease Finance Co.,
Ltd.(CFC) cannot exceed five times of its net worth, and guarantees for a individual entity cannot
exceed 50% of its net worth. The amount of guarantees and endorsements for subsidiaries in which be
hold more than 80% of its outstanding common shares cannot exceed twice of its net worth; and if the
guarantees and endorsements are for business purpose, the amount cannot exceed the transaction
amount during the latest year. The total amount of guarantees and endorsements for the Company
holds directly or indirectly 100% of the investee cannot exceed the net worth of the Company, the
maximum guarantees and endorsements cannot exceed five times of net worth of CFC.
Note 5: Subsidiary － The total amount of guarantees and endorsements provided by Chailease Finance Co.,
Ltd. for Chailease International Financial Services Co., Ltd., Chailease International Financial Services
(Singapore) Pte. Ltd., Chailease Specialty Finance Co., Ltd., Chailease Auto Rental Co., Ltd., Chailease
Power Technology Co., Ltd., Chailease Energy Integration Co., Ltd., Yun Tang Inc., Tai Yuan Energy
Integration Co., Ltd., Chung Yen Energy Integration Co., Ltd., Tien Sin Intelligent Green Energy Co., Ltd.,
Tien Jen Energy Co., Ltd., Tien Chun Energy Co., Ltd., Tien Jui Energy Co., Ltd., and Tien Ying Energy Co.,
Ltd. is $22,305,958. The total amount has been adjusted.
Note 6: Subsidiary － The maximum guarantees and endorsements provided by Asia Sermkij Leasing
Public Company Limited cannot exceed five times of its net worth. The maximum of guarantees and
endorsements for individual counterparty cannot exceed twice of its net worth.
Note 7: Subsidiary － The maximum and the total amount of guarantees and endorsements provided by
Grand Pacific Holding Corp. cannot exceed five times of its capital.
Note 8: Subsidiary － The maximum guarantees and endorsements provided by Chailease International
Finance Corporation cannot exceed five times of net worth of the most recent financial statement.
The maximum guarantees and endorsements for individual counterparty cannot exceed 50% of its net
worth. The individual counterparty holding shares to the company are exceed 50% and the maximum
guarantees and endorsements cannot exceed twice of its net worth.
Note 9: Subsidiary ‑ The maximum guarantees and endorsements provided by Yun Tang Inc. cannot exceed
five times of its net worth. If the guarantees and endorsements are for subsidiaries in which be held
more than 80% of its shares by the company or for the parent company which holds 100% shares of
the company, the amount cannot exceed three times of its net worth.
Note 10: The total amount of guarantees and endorsements provided by the Company for Chailease
International Finance Corporation and Chailease International Corp. is CNY110,000 thousand
($477,840). The total amount has been disclosed in the balance of guarantees and endorsements for
Chailease International Corp.
Note 11: The total amount of guarantees and endorsements provided by the Company for Chailease
International Finance Corporation and Chailease Finance International Corp. is CNY100,000 thousand
($434,400). The total amount has been disclosed in the balance of guarantees and endorsements for
Chailease Finance International Corp.
Note 12: The total amount of guarantees and endorsements provided by the Company for Chailease Royal
Finance Pie. and Chailease Royal Leasing Pie. is USD183,000 thousand ($5,065,440). The total amount
has been adjusted.
226
3. Securities held at the end of the period (excluding investment in subsidiaries, associates and joint ventures):
Ending balance Highest

percentage
Held company Name Marketable securities type and name Relationship with the company Financial statement account Shares/Units in Percentage of Fair value Note
Carrying value of ownership
(thousands) ownership (%) (Note 1) during the year
The Company Call Option of Convertible Bonds － Non‑current financial assets at - 2,400 - % 2,400 - %
fair value through profit or loss
Chailease Finance Co., Ltd Forcera Materials Co., Ltd.(Former name：SIC Investee company accounted for Current financial assets at fair 130 480 - % 480 - %
Electronics Co., Ltd.) under the financial assets at fair value value through profit or loss
through profit or loss
〞 Webi &Net Internet Services Inc. 〞〞 250 - 10.53% - 10.53% (Note 2)
〞 Sampotech Co., Ltd. 〞〞 369 - 0.10% - 0.10% (Note 2)
〞 Skanhex Technology Inc. 〞〞 5,273 - 4.53% - 4.53% (Note 2)
〞 Rosun Technologies, Inc. 〞〞 182 -
- % -
- % Percentage of
ownership less
than 0.01%
(Note 2)
〞 EastWest Pharmaceuticals 〞〞 242 - 5.84% - 5.84% (Note 2)
〞 Azanda Network Devices 〞〞 714 -
- % -
- %
Percentage of
ownership less
than 0.01%
(Note 2)
〞 Deerport 〞〞 -
- 10.48% - 10.48% Shareholding
less than 1,000
shares (Note 2)
〞 Yuanta Securities Co., Ltd.'s Convertible Bond 〞〞 - 8,902 - % 8,902 - %
〞 Yuanta Securities Co., Ltd.'s Convertible Bond 〞〞 - 906 - % 906 - %
227
percentage
Chailease Finance Co., Ltd Yuanta Securities Co., Ltd.'s Convertible Bond Investee company accounted for under Current financial assets at fair - 6,013 - % 6,013 - %
the financial assets at fair value through value through profit or loss
profit or loss
〞 Yuanta Securities Co., Ltd.'s Convertible Bond 〞〞 - 404 - % 404 - %
〞 Yuanta Securities Co., Ltd.'s Convertible 〞〞 - 3,828 - % 3,828 - %
Bond
228
percentage

Chailease Finance Co., Ltd Yuanta Securities Co., Ltd.'s Convertible Investee company accounted for under Current financial assets at fair - 10,004 - % 10,004 - %
Bond the financial assets at fair value through value through profit or loss
profit or loss
〞 MasterLink Securities Corporation's Convertible 〞〞 - 10,263 - % 10,263 - %
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
229
percentage
Chailease Finance Co., Ltd MasterLink Securities Corporation's Convertible Investee company accounted for under Current financial assets at fair - 3,018 - % 3,018 - %
Bond the financial assets at fair value through value through profit or loss
profit or loss
Bond
Bond
Bond
Bond
Bond
〞 MasterLink Securities Corporation's Convertible 〞〞 - 609 - % 609 - %
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
Bond
〞 Fubon Securities Co., Ltd. Convertible Bond 〞〞 - 1,707 - % 1,707 - %
〞 SinoPac Securities Corporation's Convertible 〞〞 - 15,078 - % 15,078 - %
Bond
Bond
Bond
Bond
Bond
Bond
〞 KGI Securities Co. LTD.'s Convertible Bond 〞〞 - 30,203 - % 30,203 - %
230
percentage

Chailease Finance Co., Ltd KGI Securities Co. LTD.'s Convertible Bond Investee company accounted for under Current financial assets at fair - 7,555 - % 7,555 - %
profit or loss
〞 KGI Securities Co. LTD.'s Convertible Bond 〞〞 - 300 - % 300 - %
〞 Bank of Yuanta's Beneficial Right of the Real － Current financial assets at - 256,905 - % 256,905 - %
Estate Trust amortized cost
〞 Bank of Yuanta's Beneficial Right of the Real －〞 - 48,500 - % 48,500 - %
Estate Trust
〞 Bank of Yuanta's Beneficial Right of the Real －〞 - 18,840 - % 18,840 - %
Estate Trust
〞 Global Glory Real Estate Management Co., Ltd.'s －〞 - 49,200 - % 49,200 - %
Beneficial Right of the Real Estate Trust
231
percentage
Chailease Finance Co., Ltd Global Glory Real Estate Management Co., Ltd.'s － Current financial assets at - 23,750 - % 23,750 - %
Beneficial Right of the Real Estate Trust amortized cost
232
percentage

Chailease Finance Co., Ltd Global Glory Real Estate Management Co., Ltd.'s － Current financial assets at - 37,700 - % 37,700 - %
〞 Chung Ho Real Estate Management Co., Ltd. －〞 - 75,000 - % 75,000 - %
〞 Chung Ho Real Estate Management Co., Ltd. －〞 -
1,840,000 - % 1,840,000 - %
233
percentage
Chailease Finance Co., Ltd Chung Ho Real Estate Management Co., Ltd. － Current financial assets at - 50,000 - % 50,000 - %
amortized cost
〞 United Real Estate management Co., Ltd. －〞 - 333,000 - % 333,000 - %
〞 Bank of Taipei Star's Beneficial Right of the Real －〞 - 9,800 - % 9,800 - %
Estate Trust
Estate Trust
Estate Trust
Estate Trust
〞 Chaofu Real Estate management Co., Ltd.'s －〞 - 592,424 - % 592,424 - %
234
percentage

Chailease Finance Co., Ltd Chaofu Real Estate management Co., Ltd.'s － Current financial assets at - 7,142 - % 7,142 - %
〞 Taiyi Real‑Estate management Co., Ltd.'s Beneficial －〞 - 160,000 - % 160,000 - %
Right of the Real Estate Trust
235
percentage
Chailease Finance Co., Ltd Taiyi Real‑Estate management Co., Ltd.'s Beneficial － Current financial assets at - 158,800 - % 158,800 - %
Right of the Real Estate Trust amortized cost
〞 Bank of Shin Kong's Beneficial Right of the Real －〞 - 28,036 - % 28,036 - %
Estate Trust
Estate Trust
Estate Trust
Estate Trust
Estate Trust
〞 HSIN BA BA Corporation Bond －〞 - 70,000 - % 70,000 - %
〞 Ding‑Yue Development Corp. Bond －〞 - 87,500 - % 87,500 - %
236
percentage

Chailease Finance Co., Ltd Global Glory Real Estate Management Co., Ltd.'s － Non‑current financial assets at - 5,690 - % 5,690 - %

〞 Chung Ho Real Estate Management Co., Ltd. －〞 -
1,058,720 - % 1,058,720 - %
〞 United Real Estate management Co., Ltd.'s －〞 - 252,650 - % 252,650 - %
Estate Trust
237
percentage
Chailease Finance Co., Ltd Bank of Shin Kong's Beneficial Right of the Real － Non‑current financial assets at - 21,160 - % 21,160 - %
Estate Trust amortized cost
〞 Chaofu Real Estate management Co., Ltd.'s －〞 - 50 - % 50 - %
〞 HSIN BA BA Corporation Bond －〞 - 930,000 - % 930,000 - %
〞 CTCI Corp. Investee at fair value Non‑current financial assets 770 28,644 0.10% 28,644 0.10%
at fair value through other
〞 Chin Poon 〞〞 380 13,946 0.10% 13,946 0.10%
〞 O‑Bank 〞〞 92,694 741,552 3.06% 741,552 3.06%
〞 Subton Technology Co., Ltd. 〞〞 288 9,530 0.10% 9,530 0.10%
〞 Kingmax Technology Inc. 〞〞 3,537 21,043 4.73% 21,043 4.73%
〞 Spring House Entertainment Tech Inc. 〞〞 688 10,603 4.67% 10,603 4.67%
〞 Everterminal Co., Ltd. 〞〞 245 2,448 0.50% 2,448 0.50%
〞 Tekcon Electronics Corp. 〞〞 137 1,145 0.52% 1,145 0.52%
〞 Ecomsoftware Inc. 〞〞 130 2,772 2.60% 2,772 2.60%
〞 Crownpo Technology Inc.(former name:SMTEK 〞〞 57 1,106 0.51% 1,106 0.51%
INC. )
〞 Book4u Co., Ltd. 〞〞 9 - 0.19% - 0.19% (Note 2)
〞 Phoenix Innovation Technology Venture Capital 〞〞 1,000 12,324 0.02% 12,324 2.34%
Corporation
Chailease Specialty Finance Co., Linkou amusement Co., Ltd.(Stock) 〞〞 - 36,708 - % 36,708 - % Shareholding
Ltd. less than 1,000
shares
238
percentage

Chailease Specialty Finance Co., Bank of Shin Kong's Beneficial Right of the Real － Current financial assets at - 64,500 - % 64,500 - %
Ltd. Estate Trust amortized cost
〞 Agora Garden Taipei －〞 - 910,000 - % 910,000 - %
Chailease Energy Integration Inc. International Ocean Vessel Technical Consultant Investee at fair value Non‑current financial assets 1,137 29,023 9.01% 29,023 9.01%
Co. Co., LTD. at fair value through other
Bangkok Grand Pacific Lease PublicBangkok Club Co., Ltd.(stock) 〞〞 64 176 0.14% 176 0.14%
Company Limited
Asia Sermkij Leasing Public Co., Swe Trans Group Co., Ltd. 〞〞 10 3,035 19.00% 3,035 19.00%
Ltd.
〞 Bumrungrad Hospital(stock) Investee company accounted for under Current financial assets at fair 59 6,885 0.10% 6,885 0.10%
profit or loss
Grand Pacific Holdings Corp. Mobileshift, Inc. Investee at fair value Non‑current financial assets 359 6,920 3.45% 6,920 3.45%
at fair value through other
〞 Stemcyte Inc. 〞〞 38 1,384 - % 1,384 0.15%
Grand Pacific Financing Corp. Swabplus Inc. Investee at fair value Non‑current financial assets 10 - - % - - % Percentage of
at fair value through other ownership less
comprehensive income than 0.01%
(Note 2)
〞 Mobileshift, Inc. 〞〞 358 6,920 3.45% 6,920 3.45%
〞 Stemcyte Inc. 〞〞 38 1,384 - % 1,384 - %
Chailease International Company Anywhere 2 GO Co. Ltd CB Investee company accounted for under Current financial assets at fair - 68,542 - % 68,542 - %
(Malaysia) Limited the financial assets at fair value through value through profit or loss
profit or loss
〞 Logicnesia PTE LTD 〞〞 - 9,234 - % 9,234 - %
〞 The Future Commerce Sdn. Bhd 〞 Non‑current financial assets at fair - 18,536 - % 18,536 - %
value through profit or loss
Note1: Listed companies use price in the open market, and non‑listed companies use its net worth. The
aforementioned net worths were calculated in
financial statements audit by accountants.
Note 2: The chance of recovery of the decrease in net worth and continuous losses is insignificant; therefore,
they belong to permanent reduction.
Note 3: The aforementioned inter‑company transactions have been eliminated upon the consolidation.
239
4. Aggregate purchases or sales of the same securities reaching NT$300 million or 20 percent of paid‑in capital or
more:
Marketable Beginning Balance Acquisition Disposal Ending Balance
Financial Nature of
Company securities Counter‑party
statement account relationship Shares Shares Shares Gain (loss) Shares
name type and name (Note 1)
(Note 1) (In thousands) Amount (In thousands) Amount (In thousands) Amount Carrying value on disposal (In thousands) Amount
The Company Chailease International Company Investments Subsidiaries - - - - - - - - - -
(Malaysia) Limited accounted for using Subsidiaries
equity method
Chailease International Asia Sermkij Leasing Public 〞〞〞 - - - - - - - - - -
Company (Malaysia) Company Limited
Limited
〞 Chailease International Company 〞〞〞 - - - - - - - - - -
(UK) Limited
Chailease International Chailease Finance Co., 〞〞〞 - - - - - - - - - -
Company (UK) Limited Ltd.
Chailease Finance Co., Global Glory Real Estate Financial assets at ‑ ‑ - 613,450 - 189,540 - - 685,990 - - 117,000
Ltd. Management Co., Ltd.'s Beneficial amortized cost
Right of the Real Estate
Trust
〞 Global Glory Real Estate 〞 ‑ ‑ - 275,790 - 378,620 - - 198,000 - - 456,410
Management Co., Ltd.'s Beneficial
Trust
Chailease Finance Co., Chung Ho Real Estate Management Financial assets at ‑ ‑ - - - 516,260 - - - - - 516,260
Ltd. Co., Ltd. amortized cost
〞 Chung Ho Real Estate Management 〞 ‑ ‑ - - - 490,000 - - - - - 490,000
Co., Ltd.
〞 Chung Ho Real Estate Management 〞 ‑ ‑ - - - 1,205,170 - - 146,450 - - 1,058,720
Co., Ltd.
〞 Chung Ho Real Estate Management 〞 ‑ ‑ - 1,560,000 - 320,000 - - - - - 1,880,000
Co., Ltd.
Co., Ltd.
〞 Chung Ho Real Estate Management 〞 ‑ ‑ - - - 1,582,480 - - 725,480 - - 857,000
Co., Ltd.
Co., Ltd.
〞 United Real Estate Management 〞 ‑ ‑ - 796,412 - 601,328 - - 782,000 - - 615,740
Co., Ltd.'s Beneficial Right of the
Real Estate Trust
〞 Chaofu real estate management 〞 ‑ ‑ - - - 817,040 - - 224,616 - - 592,424
Real Estate Trust
〞 Chaofu real estate management 〞 ‑ ‑ - 612,910 - 246,590 - - 715,300 - - 144,200
Real Estate Trust
〞 Chaofu real estate management 〞 ‑ ‑ - - - 363,000 - - - - - 363,000
Real Estate Trust
〞 Taiyi Real‑Estate management Co., 〞 ‑ ‑ - - - 347,000 - - - - - 347,000
Ltd.'s Beneficial Right of the Real
Estate Trust
〞 Taiyi Real‑Estate management Co., 〞 ‑ ‑ - 663,000 - 130,800 - - 793,800 - - -
Estate Trust
〞 Taiyi Real‑Estate management Co., 〞 ‑ ‑ - 141,135 - 400,415 - - - - - 541,550
Estate Trust
〞 Taiyi Real‑Estate management Co., 〞 ‑ ‑ - - - 320,000 - - - - - 320,000
Estate Trust
240
Marketable Beginning Balance Acquisition Disposal Ending Balance
Financial Nature of
Company securities Counter‑party
statement account relationship Shares Shares Shares Gain (loss) Shares
name type and name (Note 1)
(Note 1) (In thousands) Amount (In thousands) Amount (In thousands) Amount Carrying value on disposal (In thousands) Amount

Chailease Finance Co., Taiyi Real‑Estate management Co., Financial assets at ‑ ‑ - 370,625 - 353,327 - - - - - 723,952
Ltd. Ltd.'s Beneficial Right of the Real amortized cost
Estate Trust
〞 Bank of Shin Kong's Beneficial 〞 ‑ ‑ - 573,000 - - - - 573,000 - - -
Trust
〞 HSIN BA BA Corporation Bond 〞 ‑ ‑ - -
-
1,000,000 -
-
-
-
-
1,000,000
〞 Ding‑Yue Development Corp. Bond 〞 ‑ ‑ - -
-
1,250,000 -
-
-
-
-
1,250,000
〞 Asia Sermkij Leasing Public Investments Associates Associates - - -
- -
-
-
-
-
-
Company Limited accounted for using
equity method
〞 Chailease Finance (B.V.I.) Company, 〞 Subsidiaries Subsidiaries - -
-
- -
-
-
-
-
-
Ltd
〞 Chailease Specialty Finance Co., Ltd. 〞〞〞 - -
-
-
-
-
-
-
-
-
Chailease Power Technology Co.,
〞〞〞〞 - -
-
-
-
-
-
-
-
-
Ltd.
〞 Ho Lien Energy Integration Co., Ltd. 〞〞〞 - -
-
-
-
-
-
-
-
-
Tai Yuan Energy Intergration Co.,
〞〞〞〞 - -
-
-
-
-
-
-
-
-
Ltd.
Chung Ho Energy Integration Co.,
〞〞〞〞 - -
-
-
-
-
-
-
-
-
Ltd.
〞 Chung Yen Energy Integration Co., 〞〞〞 - -
-
-
-
-
-
-
-
-
Ltd.
〞 Jung Yu Energy Integration Co., Ltd. 〞〞〞 - -
-
-
-
-
-
-
-
-
Jung Yu Energy Chung Ming Co., Ltd. 〞〞〞 - -
-
-
-
-
-
-
-
-
〞 Ho Hsuan Co., Ltd. 〞〞〞 - -
-
-
-
-
-
-
-
-
Chailease International PT Chailease Finance 〞〞〞 - -
-
-
-
-
-
-
-
-
Company (Hong Kong) Indonesia
Limited
Ho Lien Energy Tien Sin Intelligent Green Energy Investments Subsidiaries Subsidiaries - -
-
-
-
-
-
-
-
-
Integration Co., Ltd. Co., Ltd. accounted for using
equity method
〞 Tien Jen Energy Co., Ltd. 〞〞〞 - -
-
-
-
-
-
-
-
-
〞 Tien Chu Energy Co., Ltd 〞〞〞 - -
-
-
-
-
-
-
-
-
〞 Tien Ying Energy Co., Ltd. 〞〞〞 - -
-
-
-
-
-
-
-
-
〞 Tien Jui Energy Co., Ltd. 〞〞〞 - -
-
-
-
-
-
-
-
-
Chailease Specialty Sing Chuang Limited 〞〞〞 - -
-
-
-
-
-
-
-
-
Finance Co., Ltd. Partnership
〞 Agora Garden Taipei Financial assets at ‑ ‑ - 1,300,000 -
300,000 -
- 690,000 -
-
910,000
amortized cost
Note 1: Securities accounted under equity method only need to fill in the first two columns.
Note 2: The aforementioned inter‑company transactions have been eliminated upon consolidation.
241
5. Acquisition of real estate reaching NT$300 million or 20 percent of paid‑in capital or more:
The details of previous transition if
Condition counterparty is related party
Name of Date of Nature of Reference for Purpose of Other
Company name Amount of Counter‑party
real estate transaction relationship Nature of Tramsition price desision acquirment covenant
payment Possessor Amount
relationship date
Chailease Finance Land 2021.11.09 580,000 Note Jin Lin Non‑related ‑ ‑ ‑ - Accordace with Expanding None
Co., Ltd. Construction party appraisement business
Co.,Ltd. report
6. Disposal of real estate reaching NT$300 million or 20 percent of paid‑in capital or more: None.
7. Purchases or sales of goods from or to related parties reaching NT$100 million or 20 percent of paid‑in capital
or more: None.
8. Accounts receivable from related parties reaching NT$100 million or 20 percent of paid‑in capital or more:
Nature of Ending Turnover Overdue Amounts received in Allowance

Company name Related party
relationship balance days Amount Action taken subsequent period for bad debts
Chailease International Financial Chailease International Financial Associates 416,156 - - - -
Services Co., Ltd. Services (Liberia) Corp.
〞 Chailease International Fortune Associates 222,217 - - - -
Corp (Liberia)
〞 Chailease International Associates 1,663,771 - - - -
Company(Malaysia) Limited
〞 Chailease International Financial Associates 1,336,991 - - - -
Services (Labuan) Co., Ltd.
〞 Chailease International Financial Associates 6,723,875 - - - -
Services (Singapore) Pte. Ltd.
〞 Chailease Virtue Co., Ltd. Associates 666,422 - - - -
〞 Chailease Bright Co., Ltd. Associates 624,546 - - - -
Chailease International Company Chailease International Company Subsidiaries 1,664,700 - - - -
(Malaysia) Limited (UK) Limited
Chailease International Company C&E Engine Leasing Limited Associates 1,367,700 - - - -
(UK) Limited
My Leasing (Mauritius) Corp. Chailease International Finance Subsidiaries 3,530,003 - - - -
Corporation
Chailease Finance Co., Ltd. Golden Bridge (B.V.I.) Corp. Associates 152,605 - - - -
〞 Chailease Berjaya Credit Sdn. Bhd. Associates 145,867 - - - -
〞 Tien Hsing Integration Co., Ltd Subsidiaries 1,813,101 - - - -
〞 Ysolar Co., Ltd Associates 1,195,976 - - - -
〞 Tien Chuan Intelligent Energy Co., Associates 188,269 - - - -
Ltd.
Chailease Finance Co., Ltd. Yu Heng Intelligent Energy Co., Ltd. Associates 186,133 - - - -
〞 Kai Yang Intelligent Energy Co., Ltd. Associates 124,748 - - - -

〞 Yao Kuang Intelligent Energy Co., Associates 111,564 - - - -
Ltd.
〞 Yiyang Green Power Co., Ltd. Associates 277,626 - - - -
Fina Finance & Trading Co., Ltd Chuang Ju Limited Partnership Subsidiaries 4,847,085 - - - -
Asia Sermkij Leasing Public Co., Ltd. Bangkok Grand Pacific Lease Public Subsidiaries 4,248,623 - - - -
Company Limited.
Chailease Consumer Finance Co., Chuang Ju Limited Partnership Subsidiaries 1,022,438 - - - -
Ltd.
Note: The aforementioned inter‑company transactions have been eliminated upon consolidation.
242
9. Trading in derivative instruments: Please reference to Note (6)(b).
10. Others: The business relationship between the parent and the subsidiaries and between each subsidiary, and
the circumstances and amounts of any significant transactions between them:

Intercompany transactions
Percentage
Nature of of the
No. Company name Counter‑party Financial
relationship Amount Terms consolidated
statements item
net revenue
or total assets
1 Chailease Finance Tien Hsing Integration Co., 3 Financing and interest 1,813,101 Same as normal 0.25%
Co., Ltd Ltd. receivable transactions
2 Fina Finance & Chuang Ju Limited 3 Financing and interest 4,847,085 〞 0.68%
Trading Co., Ltd. Partnership receivable
3 Chailease Consumer Chuang Ju Limited 3 Financing, interest 1,022,438 〞 0.14%
Finance Co., Ltd. Partnership receivable and
other financial
assets‑current
4 Chailease Chailease International Financial 3 Financing and interest 416,156 〞 0.06%
International Services (Liberia) Corp. receivable
Financial Services
Co., Ltd.
〞〞 Chailease International Company 3 Financing and interest 1,663,771 〞 0.23%
(Malaysia) Limited receivable
〞〞 Chailease International 3 Capital leases 1,336,991 〞 0.19%
Financial Services (Labuan) Co., receivable
Ltd.
〞〞 Chailease International Financial 3 Financing and interest 6,723,875 〞 0.94%
Services (Singapore) Pte. receivable
Ltd.
〞〞 Chailease Virtue Co., 3 Financing and interest 666,422 〞 0.09%
Ltd. receivable
〞〞 Chailease Bright Co., 3 Financing and interest 624,546 〞 0.09%
Ltd. receivable
5 Chailease Chailease International Company 3 Financing and interest 1,664,700 〞 0.23%
International (UK) Limited receivable
Company (Malaysia)
Limited
6 My Leasing Chailease International Finance 3 Other financial 3,530,003 〞 0.49%
(Mauritius) Corp. Corporation assets‑current
7 Asia Sermkij leasing Bangkok Grand Pacific 3 Other financial 4,248,623 〞 0.60%
public Co, Ltd. Lease Public Company assets‑current
Limited
Note 1: Descriptions of numbers are as follows:
1.Parent company is coded "0".
2.The subsidiaries are coded consecutively beginning from "1" in the order presented in the table
above.
Note 2: Nature of relationship is categorized as follows:
1.Transactions from parent company to subsidiary.
2.Transactions from subsidiary to parent company.
3.Transactions from subsidiary to subsidiary.
Note 3: Business transaction less than 300 million is not required to be disclosed.
243
(b) Information on investees:
The information on investees of the Group for the year ended December 31, 2021 is as follows (excluding
information on investment in Mainland China):
Original investment amount Balance as of December 31, 2021 Highest
Net income Share of
Investor Investee percentage of
Location Main businesses and products December 31, December 31, Shares/Units Percentage Carrying (losses) of the profits/losses of Note
company company ownership
2021 2020 (In thousands) of ownership value during the year investee investee
The Company Chailease International Company Malaysia Investment 28,845,747 23,863,347 1,614,372 100.00% 60,159,677 100.00% 11,294,426 11,294,426
(Malaysia) Limited
〞 Chailease International Financial British Virgin Installment sales, leasing overseas and 2,684,960 2,684,960 97,000 100.00% 5,625,012 100.00% 338,070 338,070
Services Co., Ltd. Islands financial consulting
〞 Grand Pacific Holdings Corp. and U.S. Financing leasing, real estate, and 135,391 135,391 3,927 51.00% 1,145,035 51.00% 116,860 59,599
its subsidiaries mortgage
〞 Golden Bridge (B.V.I.) Corp. and its British Virgin Investment 16,065,736 16,065,736 506,150 100.00% 52,066,439 100.00% 11,559,074 11,559,074
subsidiaries Islands
〞 Chailease International Company Hong Kong Investment 473,328 238,048 17,100 100.00% 442,792 100.00% (34,245) (34,245)
(Hong Kong) Limited
〞 Chailease International Liberia Leasing 163,986 163,986 -
100.00% 123,724 100.00% 65,712 65,712 share holding
Financial Services (Liberia) less than 1,000
Corp. shares
〞 Chailease International Malaysia Leasing 6,514 6,514 30 100.00% 8,732 100.00% 7,329 7,329
Financial Services (Labuan) Co.,
Ltd.
〞 Chailease International Fortune Liberia Leasing 277 277 -
100.00% 11,031 100.00% 9,070 9,070 share holding
Corp (Liberia) less than 1,000
shares
〞 Chailease International Financial Singapore Financing 3,134,811 3,134,811 109,000 100.00% 3,899,435 100.00% 673,518 673,518
Services Co. (Singapore) Pte.
Ltd.
Chailease Asia Sermkij Leasing Thailand Installment sales of automobiles 744,292 430,088 62,699 11.88% 917,829 11.88% 1,058,828 125,720
International Public Co., Ltd. and its
Company subsidiaries
(Malaysia)
Limited
〞 Chailease International Company U.K. Consulting, aircraft leasing and 31,588,393 27,297,993 683,287 100.00% 55,764,918 100.00% 10,579,421 10,579,421
(UK) Limited investment
〞 Chailease Berjaya Credit Sdn. Bhd. Malaysia Installment sales 667,275 556,063 105,000 70.00% 1,424,391 70.00% 580,509 406,356
〞 Chailease Royal Leasing Plc. Cambodia Leasing 83,040 83,040 3,000 60.00% 267,170 60.00% 104,038 62,423
〞 Chailease Royal Finance Plc. Cambodia Financing 248,899 165,859 9,312 60.00% 320,204 60.00% 94,040 56,424
〞 Yellowstone Holding AG Swiss Investment 190,103 190,103 630,000 35.00% 104,638 35.00% (138,351) (48,424)
〞 Chailease Berjaya Finance Philippines Leasing and financing 219,473 219,473 410,000 63.08% 127,845 63.08% 28,175 17,773
Corporation
〞 CL Capital Management Company Cayman Investment consultant -

-
- 48.00% - 48.00% 784 -

Limited Islands
〞 CL Investment Partners Company Cayman Investment consultant 3,888 3,888 - 48.00% 3,797 48.00% (70) (34)
Limited Islands
〞 Chailease Greater China SME Cayman Investment funds 391,257 384,813 - 48.00% 307,916 48.00% (75,742) (36,356)
Fund, L.P. Islands
〞 Diamond Rain Group Limited British Virgin Investment 612,082 612,082 18,212 35.28% 708,665 35.28% 312,583 110,279
Islands
〞 Chailease Capital (Thailand) Co., Thailand Investment 53,170 53,170 19,600 49.00% 56,904 49.00% 14,022 6,871
Ltd.
〞 Chailease Royal Insurance Broker Cambodia Insurance Brokers 2,491 - 90 60.00% 1,213 60.00% (2,155) (1,293)
Plc.
244
Net income Share of

Chailease Chailease Bright Co., Liberia Ship leasing business 277 -
-
100.00% (3,615) 100.00% (3,936) (3,936) share holding
International Ltd. less than 1,000
Financial shares
Services (Liberia)
Corp.
〞 Chailease Virtue Co., Ltd. Liberia Ship leasing business 277 -
-
100.00% 6,153 100.00% 5,943 5,943 share holding
less than 1,000
shares
〞 Chailease Cherish Co., Ltd. Liberia Ship leasing 277 -
-
100.00% 201 100.00% (77) (77) share holding
business less than 1,000
shares
Chailease Chailease Agency Sdn. Bhd. Malaysia Insurance Brokers 636 636 100 100.00% 9,252 100.00% 5,015 5,015
Berjaya Credits
Sdn. Bhd.
〞 Chailease Services Sdn. Bhd. Malaysia Insurance Brokers 636 636 100 100.00% 2,379 100.00% 305 305
Chailease Chailease Finance Co., Ltd. Taiwan Installment sales, leasing and factoring 28,890,864 24,694,543 2,422,500 100.00% 55,985,369 100.00% 11,612,116 11,612,116
International
Company (UK)
Limited
〞 C&E Engine Leasing Limited Ireland Leasing 623,313 623,313 22,519 50.00% 634,088 50.00% 21,819 10,910
Chailease Fina Finance & Trading Co., Ltd. Taiwan Installment sales, trading and factoring 9,991,242 9,991,242 1,016,300 100.00% 22,699,716 100.00% 4,344,455 4,344,455
Finance Co., Ltd.
〞 Chailease Specialty Finance Co., Taiwan Installment sales 6,337,496 5,137,496 249,561 100.00% 6,650,654 100.00% 290,526 290,526
Ltd.
〞 Asia Sermkij Leasing Thailand Installment sales of automobiles 1,616,166 702,070 193,256 36.61% 2,828,240 36.61% 1,058,828 387,637
Public Co., Ltd. and its
subsidiaries
〞 Chailease Finance (B.V.I.) British Virgin Installment sales, leasing overseas and -
1,132,389 -
- % - 100.00% (15,486) (15,486)
Company, Ltd. Islands financial consulting
〞 Chailease International Vietnam Leasing 681,233 681,233 -
100.00% 2,106,912 100.00% 426,797 426,797
Leasing Company Limited
(Vietnam)
〞 Chailease Auto Rental Co., Ltd. Taiwan Leasing 1,352,227 1,352,227 155,983 100.00% 1,697,017 100.00% 106,649 106,649
〞 Chailease Insurance Brokers Co., Taiwan Personal and property insurance brokers 8,000 8,000 800 100.00% 82,452 100.00% 66,200 66,200
Ltd.
〞 Grand Pacific Holdings Corp. and U.S. Financing leasing, real estate, and 113,729 113,729 3,773 49.00% 1,100,131 49.00% 116,860 57,261
its subsidiaries mortgage
〞 Chailease Cloud Service Co., Ltd. Taiwan Software of cloud products, leasing and 25,000 10,000 2,500 100.00% 22,245 100.00% 1,211 1,211
installment sales
〞 Yun Tang Inc. Taiwan Solar power business 465,000 445,000 -
100.00% 568,941 100.00% 41,638 41,638
〞 Chailease Energy Integration Co., Taiwan Solar power business 50,000 50,000 5,000 100.00% 679,859 100.00% 578,030 578,030
Ltd.
〞 Chailease Power Technology Co., Taiwan Solar power business 770,000 250,000 77,000 100.00% 792,804 100.00% 20,653 20,653
Ltd.
〞 Chailease International Vietnam Trading 138,400 138,400 -
100.00% 248,627 100.00% 56,436 56,436
Trading Company Limited
(Vietnam)
〞 Chung Cheng Energy Integration Taiwan Solar power business 303,400 303,400 30,340 100.00% 303,374 100.00% 225 225
Co., Ltd.
〞 Ho Lien Energy Integration Co., Taiwan Solar power business 3,460,588 2,660,588 346,059 100.00% 3,451,744 100.00% (8,873) (8,873)
Ltd.
〞 Chailease Finance Securitization Taiwan Special purpose entity 1,045,149 1,045,149 -
- % 991,369 - % 303,682 303,682
Trust 2019
245
Net income Share of
Chailease Tai Yuan Energy Intergration Co., Taiwan Solar power business 1,170,050 180,050 117,005 100.00% 1,165,731 100.00% (3,460) (3,460)
Finance Co., Ltd. Ltd.
〞 Chung Ho Energy Integration Co., Taiwan Solar power business 2,792,124 1,612,124 279,212 100.00% 2,751,503 100.00% (40,126) (40,126)
Ltd.
〞 Chung Yen Energy Integration Co., Taiwan Solar power business 775,400 302,900 77,540 100.00% 778,557 100.00% 3,593 3,593
Ltd.
〞 Tung Feng Inc. Taiwan Solar power business 34,010 34,010 -
100.00% 33,820 100.00% (69) (69)
〞 He To Energy Integration Co., Ltd. Taiwan Solar power business 500 500 50 100.00% 338 100.00% (85) (85)
〞 Chung Yu Energy Integration Co., Taiwan Solar power business 500 500 50 100.00% 338 100.00% (85) (85)
Ltd.
〞 Jung Yu Energy Integration Co., Taiwan Solar power business 2,282,208 500 228,221 100.00% 2,281,130 100.00% (1,001) (1,001)
Ltd.
〞 Chung Wei Energy Integration Co., Taiwan Solar power business 500 500 50 100.00% 338 100.00% (85) (85)
Ltd.
〞 Tung Ching Energy Technology Taiwan Solar power business 201,000 -
-
- % 199,671 100.00% (359) (359)
Inc.
Fina Finance & Chailease Consumer Finance Co., Taiwan Factoring, trading‑in, management, 4,152,436 4,152,436 345,304 100.00% 6,735,158 100.00% 1,105,317 1,105,317
Trading Co., Ltd. Ltd. and valuation on accounts
receivable; installment sales; financial
instrument
〞 Chailease Credit Services Co., Ltd. Taiwan Installment sales and leasing 10,101 10,101 1,000 100.00% 10,585 100.00% 427 427
Chailease Chuang Ju Limited Partnership Taiwan Installment sales and leasing 3,300,000 3,300,000 - 99.99% 3,918,683 99.99% 618,683 618,683 (Note 2)
Consumer
Finance Co.,Ltd.
Chailease Sing Chuang Limited Partnership Taiwan Installment sales and leasing 1,800,000 1,500,000 - 99.99% 1,994,257 99.99% 194,257 194,257 (Note 3)
Specialty
Finance Co., Ltd.
Chailease Credit Chuang Ju Limited Taiwan Installment sales and leasing 10 10 - 0.01% 10 0.01% -
-
(Note 2)
Services Co.,Ltd. Partnership
Chailease Cloud Sing Chuang Limited Taiwan Installment sales and leasing 10 10 - 0.01% 10 0.01% -
-
(Note 3)
Service Co., Ltd. Partnership
Chailease PT Chailease Indonesia Indonesia Financing 19,305 222,750 97,500 75.00% 242 75.00% (19,164) (14,373)
Company (Hong
Kong) Limited
〞 PT Chailease Finance Indonesia Indonesia Financing 420,750 -
2,125,000 85.00% 400,838 85.00% (24,544) (20,862)
〞 Chailease Management Hong Kong Consulting 1,775 1,775 500 100.00% 1,736 100.00% (721) (721)
Consulting Co.,
Limited
Chailease Capital Asia Sermkij Leasing Public Co.,Ltd Thailand Installment sales of automobiles 161,255 81,880 10,128 1.92% 148,218 1.92% 1,058,828 20,056
(Tailand) Co., and its subsidiaries
Ltd.
Chailease Power Chu Chiang Solar Energy Taiwan Solar power business 45,050 -
-
100.00% 44,757 100.00% (293) (293)
Technology Co., Inc.
Ltd.
Ho Lien Energy Tien Sin Intelligent Green Energy Taiwan Solar power business 544,000 - 54,400 80.00% 542,991 100.00% (1,284) (1,196)
Integration Co., Co., Ltd.
Ltd.
〞 Tien Jen Energy Co., Ltd. Taiwan Solar power business 544,000 - 54,400 80.00% 543,416 100.00% (748) (734)
〞 Tien Chu Energy Co., Ltd Taiwan Solar power business 544,000 - 54,400 80.00% 542,608 100.00% (1,872) (1,694)
〞 Tien Ying Energy Co., Ltd. Taiwan Solar power business 1,024,000 - 102,400 80.00% 1,021,147 100.00% (3,703) (3,412)
〞 Tien Jui Energy Co., Ltd. Taiwan Solar power business 544,000 - 54,400 80.00% 541,872 100.00% (2,679) (2,400)
246
Net income Share of

Jung Yu Energy Chung Ming Co., Ltd. Taiwan Solar power business 300,050 - 30,005 100.00% 299,892 100.00% (158) (158)
Integration Co.,
Ltd.
〞 Chung Yao Co., Ltd. Taiwan Solar power business 20,050 - 2,005 100.00% 19,954 100.00% (96) (96)
〞 Yao Jih Co., Ltd. Taiwan Solar power business 50 - 5 100.00% (38) 100.00% (89) (89)
〞 Ho Hsuan Co., Ltd. Taiwan Solar power business 1,253,120 - 125,312 100.00% 1,253,030 100.00% (89) (89)
〞 Hsia Ching Co., Ltd Taiwan Solar power business 50 - 5 100.00% (61) 100.00% (111) (111)
Chung Ho Tien Hsing Integration Co., Ltd Taiwan Solar power business 1,000 - 100 100.00% (39,666) 100.00% (40,666) (40,666)
Energy
Integration Co.,
Ltd
Note 2: Chailease Consumer Financial Co., Ltd. is the limited partner, and Chailease Credit Services Co., Ltd. is
the general partner.
Note 3: Chailease Specialty Financial Co., Ltd. is the limited partner, and Chailease Cloud Services Co., Ltd. is
the general partner.
(c) Information on investment in Mainland China:
1.Related information on investment in Mainland China:
Accumulated Accumulated Accumulated
Principal Method of Outflow of Investment Flows Outflow of Net Income Share of Carrying Amount Inward
Name of the Total Amount Percentage of Percentage of
Business Investment Investment from Investment from (Losses) of profits/losses as of Remittance of
Investee Company of Paid‑in Capital Ownership Ownership
Activities (Note 1) Taiwan as of Outflow Inflow Taiwan as of the Investee (Note 2) December 31, Earnings as of
January 1, 2021 December 31, 2021 2021 December 31, 2021
Chailease Leasing 10,573,186 (2) - - - - 12,525,874 97.89% 97.89% 12,261,578 48,785,251 2,851,040
International
Finance Corporation
Chailease Finance Leasing 3,875,200 (2) - - - - 813,371 98.41% 98.41% 800,438 5,780,176 -
International Corp.
Chailease Trading 2,345,760 (2) - - - - 1,052,390 97.89% 97.89% 1,030,185 4,178,294 -
International Corp.
Jirong Real Estate House 738,480 (2) - - - - 14,523 97.89% 97.89% 14,217 755,770 -
Co., Ltd. property
leasing and
management
DMC Energy Environmental -
(2) - - 108,600 - (1,329 ) 19.57% 19.57% (260 ) -
-
Management business
Services (Shenzhen)
Co., Ltd.
Chailease Factoring 217,200 (2) - - - - 3,785 97.89% 97.89% 3,705 218,481 -
International
Commercial
Factoring
Corporation
Chailease Factoring 217,200 (2) - - - - 42 97.89% - % 41 212,658 -
Commercial
Factoring
Corporation
Note 1: The methods for engaging in investment in Mainland China include the following:
1.Direct investment in China companies.
2.Indirectly invested in China company through third region.
3.Others.
Note 2: Investment gains and losses were recognized based on the financial reports audited by the subsidiary's
certified public accountants.
Note 3: The limit is not calculated because the Company is foreign company.
247
Note 4: All numbers are disclosed in NT dollars. The amounts involved with foreign currency are converted to
NT dollars by using exchange rates on the financial report date.
Note 5: Current investment gains and losses and book values at the end of the period are included the amounts
of direct and indirect investments.
2.Limit on the amount of investment in Mainland China area: None.
3.Significant transactions:
The aforementioned intercompany transactions have been eliminated upon consolidation for the year ended
December 31, 2021, please refer to Note (13) (a).
(d) Major shareholders: There were no shareholders whose shareholding ratio exceeded 5%.
(14) Segment information
(a) The Group’s reportable segments include operations in Taiwan, China, ASEAN and other areas. These segments
engage mainly in installment sales, capital leasing and operating lease. The Group uses operating profit as the
measurement for segment profit and the basis of performance assessment.
(b) Information about profit or loss and assets and liabilities the report amount is similar to that in the report used by
the chief operating decision maker.
Operating segment financial information:
For the year ended
Taiwan China ASEAN Others Elimination Total
December 31, 2021
Revenue

Revenue from external customers $ 36,351,671 27,548,958 7,861,671 397,254 -
72,159,554
Intersegment revenue 1,685,264 77,339 511,864 -
(2,274,467 ) -
Interest revenue 7,382 222,969 13,604 275 -
244,230
Total revenue $ 38,044,317 27,849,266 8,387,139 397,529 (2,274,467 ) 72,403,784
Interest expenses $ 2,822,777 4,989,543 1,524,670 86,774 -
9,423,764
Depreciation and amortization $ 4,824,070 304,177 167,185 9,374 -
5,304,806
Share of profit (loss) of associates and
joint ventures accounted for using
equity method $ - (260 ) - 10,910 - 10,650
Reportable segment profit or loss $ 11,961,739 12,622,226 2,296,927 178,199 -
27,059,091
Reportable segment assets $ 426,660,491 217,260,342 78,888,333 5,670,592 (23,610,037 ) 704,869,721
Reportable segment liabilities $ 366,491,684 164,180,226 65,149,327 3,648,958 (23,610,037 ) 575,860,158
For the year ended

Taiwan China ASEAN Others Elimination Total
December 31, 2020
Revenue

Revenue from external customers $ 29,859,070 22,596,447 6,656,356 365,886 -
59,477,759
Intersegment revenue 1,452,354 123,496 300,300 -
(1,876,150 ) -
Interest revenue 18,123 159,686 37,770 815 -
216,394
Total revenue $ 31,329,547 22,879,629 6,994,426 366,701 (1,876,150 ) 59,694,153
Interest expenses $ 2,690,718 4,479,017 1,564,269 106,378 -
8,840,382
Depreciation and amortization $ 4,060,289 335,644 155,387 9,430 -
4,560,750
Share of profit (loss) of associates and
joint ventures accounted for using
equity method $ (1 ) (784 ) - 43,189 - 42,404
Reportable segment profit or loss $ 9,468,256 8,681,386 1,363,799 182,879 -
19,696,320
Reportable segment assets $ 328,868,241 200,955,829 69,085,318 5,734,098 (14,682,123 ) 589,961,363
Reportable segment liabilities $ 279,197,048 158,835,237 59,367,272 3,607,258 (14,682,123 ) 486,324,692
248
(c) Information about the products and services
Revenue from the external customers of the Group was as follows:

Products and services 2021 2020
Sales revenue $ 5,132,662 4,210,818
Interest revenue ‑ installment sales 13,648,813 10,880,685
Interest revenue ‑ capital lease 24,544,166 20,718,562
Rental revenue ‑ operating leases 4,585,134 3,820,500
Interest revenue ‑ loans 6,109,708 5,065,606
Other interest revenue 8,689,291 6,270,379
Other operating revenue 9,449,780 8,511,209
Total $ 72,159,554 59,477,759
(d) Geographical information

Please refer to Note (14)(b) for the related information on the Group's reportable segments by geographical
location.
(e) Reconciliation information for segment income (loss)
1.The revenue from external customers reported to the chief operating decision‑maker is measured in a manner
consistent with that of the statement of comprehensive income. A reconciliation of reportable segment
income and profit for the years ended December 31, 2021 and 2020 is provided as follows:
2021 2020
Reportable segment income $ 27,059,091 19,696,320
Management segment loss (4,364,291 ) (2,157,899 )
Profit for the period $ 22,694,800 17,538,421
2. A reconciliation of reportable segment assets as of December 31, 2021 and 2020 is provided as follows:
2021.12.31 2020.12.31
Reportable segment assets $ 728,479,758 604,643,486
Management segment assets 10,023,046 5,178,531
Elimination (25,275,888 ) (16,498,183 )
Total assets $ 713,226,916 593,323,834
3. A reconciliation of reportable segment liabilities as of December 31, 2021 and 2020 is provided as follows:
2021.12.31 2020.12.31
Reportable segment liabilities $ 599,470,195 501,006,815
Management segment liabilities 22,518,346 8,836,332
Elimination (25,275,888 ) (16,498,183 )
Total liabilities $ 596,712,653 493,344,964
249
VII. Review and Analysis of the Financial Condition,
Performance and Risk Management
(1) Review and analysis of Financial status
Unit: NT$ thousands
Item 2020 2021 Difference %
Current Assets 437,984,422 511,789,886 73,805,464 17
Property, Plant and Equipment 44,043,357 52,240,669 8,197,312 19
Intangible Assets 97,776 93,845 (3,931) (4)
Other Assets 111,198,279 149,102,516 37,904,237 34
Total Assets 593,323,834 713,226,916 119,903,082 20
Current Liabilities 376,068,056 423,903,922 47,835,866 13
Non-current Liabilities 117,276,908 172,808,731 55,531,823 47
Total Liabilities 493,344,964 596,712,653 103,367,689 21
Share capital 15,313,280 16,003,944 690,664 5
Capital Surplus 30,883,964 31,050,217 166,253 1
Special reserve 3,283,275 3,307,294 24,019 1
Unappropriated retained earnings 49,322,515 63,225,727 13,903,212 28
Other equity items (3,307,294) (3,963,115) (655,821) 20
Non-control interests 4,483,130 6,890,196 2,407,066 54
Total equity 99,978,870 116,514,263 16,535,393 17
Explanation: Analysis of deviations over 20% and differences exceeding 1% of total assets.
1. Increase in current assets: This was mainly due to the growth of business resulting in an increase in Account Receivables.
2. .Increase in property, plant and equipment: This was due to increasing of equipment solar power, resulting in increase in property, plant and equipment.
3. Increase in other assets: This was due to increasing of prepaid of equipment solar power
4. Increase in current liabilities and non-current liabilities: This was due to the growth of new business origination, resulting in increased borrowings.
5. Increase in equity items: This was mainly due to increasing of exchange differences on translation of foreign financial statements..
6. Increase in unappropriated retained earnings: This was mainly due to the increase in net profit.
7. . Increase in non-control interest: This was mainly due to the increase capital in Asia Sermkij Leasing Public Company Limited.
250
(2) Review and analysis of Financial performance
Net Revenue 59,477,759 72,159,554 12,681,795 18

Operating Cost 16,767,025 19,488,120 2,721,095 14
Gross Profit from operations 42,710,734 52,671,434 9,960,700 19
Operating Expenses 19,413,774 19,863,098 449,324 2
Net other income and expenses 378,926 676,496 297,570 44
Operating profit 23,675,886 33,484,832 9,808,946 29
Non-operating Income and Expenses 989,608 1,169,559 179,951 15
Profit before Income Tax 24,665,494 34,654,391 9,988,897 29
Income Tax Expenses 7,127,073 11,959,591 4,832,518 40
Net Income 17,538,421 22,694,800 5,156,379 23
Net Income Attributable to Shareholders of the Parent 16,857,199 21,643,760 4,786,561 22
Net Income Attributable to non-control interests 681,222 1,051,040 369,818 35

Explanation: Analysis of deviations over 20% and differences exceeding 1% of total assets.
1. Increase in net revenue: This was due to business expansion by the increase of interest income.
2. Increase in operating cost: This was mainly due to t business expansion by the increase of interest expense and other operating cost, etc.
3. Increase in Net other income and expenses: This was mainly due to the increase in gain on doubtful debt recoveries..
4. Increase in gross profit from operations, operating profit and profit before income tax: This was due to the growth of revenue.
5. Increase in income tax expense: This was due to an increase in profit before income tax.
(3) Review and analysis of Cash Flow

1. Liquidity analysis of the past two years
Unit: NT$ thousands
operating activities 11,457,962 32,166,911 20,708,949 181
investing activities (5,354,022) (12,426,299) (7,072,277) 132
financing activities 8,096,548 (5,900,192) (13,996,740) (173)

Explanation:
1. Increase in net cash flows provided by operating activities: This was due to business expansion by the increase of interest income ；
2. Increase Decrease in net cash flows used by investing activities: This was due to an increase in purchasing of real estate asset trust；
3. Increase in net cash out provided by financing activities: This was due to distribution of cash dividend.
2. Cash Flow Projection for Next Year:

Unit: NT$ thousands
Net Cash Used Remedy for Liquidity Shortfall
Net Cash Provided
Cash Balance in Investing and Liquidity Shortfall
by Operating
12/31/2019(1) Financing Activities (1)+(2)+(3)
Activities in 2019(2) Investment Plan Financing Plan
in 2020(3)
46,374,548 48,918,522 (43,260,535) 52,032,535 - -
(4) Major Capital expenditures in recent years and impacts on financial and
operational situations:
The company's major capital expenditure in 2021 was the purchase of solar power stations by its own funds and
bank borrowings.
251
(5) Investment Policies and Results in recent years
1. Long-term Investment Policy
The Company's current investment policy is mainly to support the promotion and extension of the company's
business, the development of international business, the diversified operation and combined use of information
technology. The relevant executive departments follow the internal control system "Investment Cycle", "Processing
Procedures for the Acquisition and Disposal of Assets", "Securities Management Policy" and "Investment
Management Policy", which are discussed and approved by the board of directors or the shareholders' meeting.
The company focus on the future profitability of the investee company and its product vision with strictly abides
by the principles of legality, profitability and liquidity. The investment portfolio takes into account the balance
between risk, revenue and asset growth, and achieves the goal of income and asset growth under reasonable risk
planning.
2. Long-term Investment Results：
Operating results from the Company's investee companies remain profitable in recent years, mainly due to
business growth. The equity investment income of 2021 was NT$ 23,972,553 thousand. Only a few subsidiaries
were loss-making. The reasons are as follows:
December 31, 2021 Unit: NT$ thousands
Loss of the
Investee Company Explanation Improvement Plan
investee
Chailease International (34,245) The company mainly invests in Indonesian It is expected to cover the operating
Company (Hong Kong) Limited subsidiaries, and it was still loss-making expenses as the business scale expands.
because the Indonesian subsidiary just
commenced business in 2021/12
Chailease Royal Insurance Broker (1,293) The company had not yet obtained the It is expected to cover the operating
Plc. approval of the National Bank of Cambodia to expenses as the business scale expands.
obtain a business license, and it was still loss
making.
Chailease Bright Co., Ltd. (3,936) The company was established in 2021/8, It is expected to cover the operating
and the operating scale was not sufficient to expenses as the business scale expands.
cover the operating expenses.
Chailease Cherish Co., Ltd. (77) The company was invested in 2021/12, and It is expected to cover the operating
the operating scale was not sufficient to expenses as the business scale expands.
cover the operating expenses.
Chailease Finance (B.V.I.) (15,486) The company had decided to liquidate and
Company, Ltd. was currently in the process of liquidation.
Ho Lien Energy Integration Co., (8,873) The company's operating scale was not When the solar power plants start to
Ltd. sufficient to cover operating expenses. operate, the revenues generated will
support operating costs and expenses.
Tai Yuan Energy Integration Co., (3,460) The company's operating scale was not When the solar power plants start to
Chung Ho Energy Integration (40,126) The company's operating scale was not When the solar power plants start to
Co., Ltd. sufficient to cover operating expenses. operate, the revenues generated will
TUNG FENG INC. (69) The company's operating scale was not When the solar power plants start to
sufficient to cover operating expenses. operate, the revenues generated will
He To Energy Integration Co., (85) The company's operating scale was not When the solar power plants start to
Chung Yu Energy Integration Co., (85) The company's operating scale was not When the solar power plants start to
Jung Yu Energy Integration Co., (1,001) The company's operating scale was not When the solar power plants start to
Chung Wei Energy Integration (85) The company's operating scale was not When the solar power plants start to
Co., Ltd. sufficient to cover operating expenses. operate, the revenues generated will
252
Loss of the
Investee Company Explanation Improvement Plan
investee
TUNG CHING ENERGY (359) The company's operating scale was not When the solar power plants start to
TECHNOLOGY INC. sufficient to cover operating expenses. operate, the revenues generated will

PT Chailease Indonesia Finance (14,373) The company had decided to liquidate and
was currently in the process of liquidation.
PT Chailease Finance Indonesia (20,862) The company officially commenced business It is expected to cover the operating
in 2021/12, and the operating scale was not expenses as the business scale expands.
sufficient to cover the operating expenses.
Chailease Management (721) The company had decided to liquidate and
Consulting Co., Limited was currently in the process of liquidation.
CHU CHIANG SOLAR ENERGY (293) The company was acquired in 2021/9, and When the solar power plants start to
INC. the operating scale was not sufficient to operate, the revenues generated will
cover the operating expenses. support operating costs and expenses.
Tien Sin Intelligent Green Energy (1,196) The company was acquired in 2021/4, and When the solar power plants start to
Co., Ltd. the operating scale was not sufficient to operate, the revenues generated will
Tien Jen Energy Co., Ltd. (734) The company was acquired in 2021/4, and When the solar power plants start to
the operating scale was not sufficient to operate, the revenues generated will
Tien Chu Energy Co., Ltd. (1,694) The company was acquired in 2021/4, and When the solar power plants start to
Tien Ying Energy Co., Ltd. (3,412) The company was acquired in 2021/4, and When the solar power plants start to
Tien Jui Energy Co., Ltd. (2,400) The company was acquired in 2021/4, and When the solar power plants start to
Chung Ming Co., Ltd. (158) The company was established in 2021/6, When the solar power plants start to
and the operating scale was not sufficient to operate, the revenues generated will
Chung Yao Co., Ltd. (96) The company was established in 2021/6, When the solar power plants start to
and the operating scale was not sufficient to operate, the revenues generated will
Yao Jih Co., Ltd. (88) The company was established in 2021/8, and When the solar power plants start to
the operating scale is not enough to cover operate, the revenues generated will
the operating expenses. support operating costs and expenses.
Ho Hsuan Co., Ltd. (89) The company was established in 2021/8, and When the solar power plants start to
Hsia Ching Co., Ltd. (111) The company was established in 2021/8, and When the solar power plants start to
Tien Hsing Integration Co., Ltd. (40,666) The company was acquired in 2021/8, and When the solar power plants start to
3. Investment Plans in the Next Year：

With expansion of our locations and service portfolio and considering the growth of each area, Chailease will
evaluate the possibility to increase capital, to become an outstanding finance company in Asia- Pacific.
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(6) Risk Management Framework & Policy
1. Chailease Risk Management Organizational Structure
Chailease's Risk Management Committee is responsible for the establishment of risk management structure
and ensuring the implementation of risk management activities. Subsidiaries also have their own internal risk
management planning departments, credit services division, and credit services departments and branches that
are responsible for implementing and overseeing risk management mechanisms.
Board
Chairman
Risk Management Management Committee
Committee President
Risk Management officer
Subsidiaries
Risk Management Department
Credit Services Division
Risk Management and Credit Services of Departments and

Planning Department Branches
(1) Organizations with Risk Management Responsibilities

Organization Functions
Board Understanding the nature of business activities and relating risks of the Company, assessing with care and
effectiveness, and controlling system structure of risks.
Ensuring that top executives establishes sound identification, analysis, evaluation, treatment and risk oversight
reporting systems, including quarterly assessments to determine whether the organization is capable of managing
major risks adequately (e.g., credit risk, market risk, liquidity risk, currency rate fluctuations, and operational risks.);
reviewing the suitability of risk management policies and procedures as well as the effectiveness of implementation.
Risk Responsible for setting up a risk management structure approved by the management committee;
Management Setting up a risk management system, applying risk management policies and procedures to deal with any major
Committee risks that the company could potentially encounter; reviewing the soundness and suitability of holding company
risk management policies, procedures, and processes every year; reviewing the holding company’s risk management
report every quarter and reporting any major incidents to the Board.
Risk Formulating review and approval methods, risk assessment system, and risk management policies used to oversee
Management the quality of the Group's financial operating assets;
Department providing information related to risk analysis on asset portfolios on a regular basis and making sound adjustments to
reserves for uncollectable accounts based on asset quality;
Responsible for planning the Group's risk management projects; responsible for quality analysis for the risk
assessment of the major delinquent cases of Group.
Risk Formulating the credit risk management strategies, guidelines, and procedures for the company within the Group;
Management designing and integrating credit risk report mechanism and ensuring the report is correct;
and Planning establishing performance assessment and management mechanisms for departments as well as credit risk education
Department and training programs;
Reporting on credit risk issues, including major credit risk exposure and losses as well as improvements to
management or processes, on a regular basis.
Subsidiaries Identifying major risks to business activities, the reasons why risk formed, and different types of risk factors; regularly
assessing risk factors that could adversely impact and the degree of the potential impact, so as to monitor the risk
management mechanism and evaluate whether it takes all negative risk factors into consideration;
Submitting a risk management report every quarter.
Credit Services Responsible for managing and supervising credit risk identification and measurement work;
of Departments implementing credit risk identification, measurement, and management procedures as well as taking part in the
and Branches review thereof;
Training credit risk identification, measurement, and management personnel to meet the needs of the company.
254
2. Risk management policies
To avoid any negative impact arising from risk factors, Chailease has drawn up risk management policies and
implements them thoroughly to ensure that the objectives that the Company has set for itself can be realized.

Risk management policies are employed in the Company, all business units (including front and back office)
of subsidiaries, branch affiliates, and organization members to ensure that Chailease can effectively manage
potential risks in all of its operations.
(1) Credit risk
Chailease defines "credit risks" as those risks stemming from inappropriate or incorrect actions taken
internally in the areas of operations, finances, systems, or personnel, as well as from external changes related
to customers, the economy, the law, and so forth, that make it impossible for customers to carry out their
responsibility to pay back loans, resulting in losses to Chailease. Credit risk policies are formulated based on
risk management policies to effectively advance operations, enhance asset quality, and ensure asset security.
The use of consistent policies to bolster credit risk assessment and management mechanisms allows Chailease
to avoid and reduce credit risk and losses. It regularly reviews the effectiveness of its credit risk management,
offering suitable feedback for the management process.
The credit risk management process includes operational strategies and planning, marketing and promotion,
performance evaluation, risk disclosure, and risk monitoring. The aspects include:
Implementation of the division of labor between operations and credit services allows the risk assessment work
to be independent of business operations to effectively balance performance and credit risk management.
Approval procedures employ level-skipping approval method and implements detailed rules based on review
management guidelines, so that upper management and lower level management are all responsible for the
quality of and following up on risk assessment cases.
Credit limit caps are to be limited to the maximum amounts of guaranteed credit limits and are not to exceed
amounts stipulated for uncovered loans.
The rating and grading model stresses some quantitative technologies to mitigate differences in understanding
between operation and review personnel regarding risk management operations by measuring the company's
overall credit and operation risk levels. Guarantee in form of collateral is to reduce the risks of unexpected
changes or uncertain factors with value being determined using a collateral assessment process.
Collection policies divide collection activities into different method types to manage and to implement in
order to increase the amount of loan in arrears paid back by customers.
Reserves for bad debts. Procedures for setting aside reserves for uncollectable accounts are set up by
employing an appropriate mechanism, so that they meet with financial and tax regulations.
(2) Financial risk
The objective of Chailease's financial risk management, primarily by managing liquidity, interest rate, and
currency rate risks, is to control losses and the goal of each risk management area is to realize that objective.
The Board, which has the highest level of authority, authorizes the Risk Management Committee to draw up
risk management strategies, while the Financial Department is responsible for implementing financial risk
management in accordance with decisions made by the Risk Management Committee.
The Board and Risk Management Committee are to oversee and manage financial risk in accordance with such
principles as obtaining quarterly financial risk assessment reports (balance sheets) compiled by the Financial
Department, determining whether current risks lie within set risk limits, evaluating the suitability of risk
management tools being employed on a regular basis, submitting appropriate measures whenever necessary
to counter risks arising from substantial changes, whether internal or external, and regularly reviewing hedging
efficacy and making timely adjustments when needed.
255
(7) Information Security and Personal Information Protection
To effectively promote information security work, the Company established the "Information Security Committee"
in accordance with the "Regulations for Information Security Policy,"to take charge of promoting and governing
information security, monitoring and managing information security risks, and reporting major information
security incidents. The Committee shall hold a meeting at least once a year and may hold a meeting to report major
decisions to the Board of Directors, if necessary.
1. Information Security Policy
Considering relevant business development and demands, the Company established the "Information Security
Policy" to strengthen the management of information security, build a safe and reliable information operating
environment, and ensure information, system, equipment and network security. Moreover, the Company also
stipulated "Guidelines for the Management of Information Security" and other management regulations and
established control systems, in accordance with relevant matters stated in the policy. For the content of relevant
policies, please refer to the Important Articles of Incorporation for Company Governance on the company website.
(http://www.chaileaseholding.com/ugC_Chapter.asp)
2. Organizational Structure
Board
Chairman/President
Supervision
Committee
Chairperson
General Manager
Executive Secretary
Chief Information Officer
Committee Members
Sales, Audit, Customer Service, Chief Legal Officer, Chief of Staff
Execution Team
The duties of the committee are as follows:

I. Develop and review the information security policy and development strategy of the Company.
II. Review the information security structure of the Company and relevant management regulations. III.Enhance
information security awareness and review the training program.
IV. Review the annual information security investment plan and budget.
V. Supervise the promotion and execution of information security management affairs.
VI. Other information security management matters.
256
3. Information Security Management Plan
Information Development
Management Committee

Information technology related departments are responsible for implementing the Information Security Policy and for
Information technology
making its corresponding plans. They shall also provide information security consultation service. Meanwhile, they establish
related departments
information technical specification, and propose information security requirements, then assessing and implementing them.
Audit department Regular or irregular inspection of information security at least once a year.
Human resource departments shall organize training courses for new recruits according to company information security
Human resource
education and promotion plans. They should also coordinate with departments in need of new recruits to assess suitability of
departments
potential candidates.
They shall classify various business information into ranks and segments so that commercial secrets of the company can be
Planning departments
kept confidential and intellectual property well protected.
They shall review contracts signed with outsourced information companies with regard to contract terms, agreements and
Legal compliance departments
classified information. They shall also provide recommendation for improvement if necessary.
Managers of all units and departments shall communicate with the employees and raise their awareness
of information security and protection. They should supervise information security operations of their
own departments to prevent illegal and improper conduct.
Information Security Status of Implementation:

In accordance with the provisions of Article 9 of the “Regulations Governing Establishment of Internal Control
Systems by Public Companies”, Chailease has established internal control systems and related operational
specifications for information circulation and other management environment, including personal information,
and computerized information system. Simultaneously, to comply with the provisions of Article 13 of the
Regulations, our company information and communication security inspection is included in the annual audit
plan.
Self-risk evaluation and check of internal control systems by operation units:
I. Early each year, every operation unit shall evaluate risks and render evaluation results and improvement
suggestions to the internal audit department for its reference. Such risk evaluation shall be based on internal
control items in
the fields of information circulation and personal information processing, while risk scale and major control
points shall also be considered. By year’s end, each operation unit shall undertake self-risk evaluation and checks
according to early year plans, submit the results to the internal audit department for review, and then report to
the company executive. This move aims to ensure implementation of internal control systems.
II. Control of information flow security audit and inspection:
257
The independent internal audit department shall draft an annual information security audit and inspection plan
according to the results of self-risk evaluation and risks of each operation unit. This audit and inspection plan shall
be submitted to the management and the internal audit department shall conduct due diligence based on the
plan. Reports of due diligence will be submitted to the management. Defects and recommendations thereof will
be tracked and improved within a due date.
III. Information security training:
Each unit's new recruits are required to attend education and training classes encompassing courses of specific
information security, the company's internal rules, related laws, cybercrime, and general knowledge of information
security. Each year, information technology-related departments shall establish an annual education and training
program and arrange personnel to participate in external workshops accordingly. Those participating in training
courses will also need to pass relevant professional examinations. We also arrange companies with expertise to
introduce (or educate about) important information security projects and conduct related case studies.
4. Information Processing Flow Chart
Regarding the management of the information service processing procedure, Chailease takes information
management as its basis and builds demand management, incident management, problem management, change
management, requisition form management, online management, knowledge management, and usability
management, supplemented by risk management orientation, from the demands of information services at the
user end to the final completion online or solutions to problems or demands, to keep close tabs on information
security.
Information Service
Demands
Record of Report Unit Major Problems

Requisition Management
Problem Management
Requisition Form Management Incident Management Problem Management Change Management

Incident Management Problem Control Change Change Change
Requisition Form
INCIDENT Procedure Consultation Meeting Review Implementation
Transfer Requisition Form
Knowledge Management Online Management
Availability Management Known Issue Management

Establishing Subordinates
Managing Knowledge
Association Performance Event LOG SLA
Analysis Monitor Monitor Monitor Maintenance
Core Online Non-core Online
258
5. Information security resources devoted for newcomers
As cyber-attacks increased and the method of attack became complex, many information security problems in
enterprises have occurred. Hence, the government and competent agencies have increased the requirement on

enhancing risk management of information security in enterprises. However, to prevent threats and attacks, the
promotion and education on the information security awareness of internal personnel are among the key factors
for successful information security policy implementation, in addition to the application of technological tools.
Regarding this matter, when newcomers arrive - in addition to providing relevant internal professional knowledge
- the Company also asks them to complete necessary relevant information security training, to take precautionary
measures. Moreover, the overall training completion rate is 100%. Employees who have joined the company have
also completed the relevant information security training requirements and with a 100% coverage rate. Personal
Information Protection.
Name of the Course Number of hours

Online
Introduction to Chailease's information environment
Overview on information security
0.25 hours
Information security management-personal
Offline
New employee orientation- Information security and policy propaganda 0.5 hours
In addition, the information unit made a large investment in information security and skills training every year in
this fast-changing world.
Year Number of classes Number of hours
2021 25 363
2020 41 672
2019 51 736
6. Measures Governing Information Security Incident

The Information Department provides gateway and endpoint protection with virus isolation alerts and further
detects suspicious external intrusions through network traffic control and analysis. In addition, to improve the
threat detection speed and response time, the Company introduced XDR (Extended Detection and Response) in
2021 to collect and automatically cross-correlate data from multiple layers of protection, providing faster threat
detection through more rapid information security analysis, and also improving investigation and response time.
The Company conducted two disaster recovery exercises in 2021, one information department recovery exercise
and one front and back end synchronized off-site recovery exercise. To prevent impact from changes due to
epidemic and comply with relevant epidemic prevention regulations, the Company adjusted the exercise format,
one disaster recovery environmental testing and related application system recovery exercise. This exercise is to
provide the best protection measures for the enterprise’s internal systems and data, minimize the recovery time
from system interruptions and reduce the data loss caused by operational interruptions through reasonable
means and methods. In 2021, there were no fines or operational losses due to information equipment problems.
In view of the fact that information security is a major risk issue for business operations, we have introduced ISO
27001 Information Security Management System (ISMS) in 2021 and successfully obtained external validation
ahead of schedule by the end of 2021 in order to prevent and respond to the possible impact of information
security incidents. By building an information security management system for the information used in the
organization, the Company can properly protect the confidentiality, integrity and availability of information and
achieve the goal of security in the organization’s operations while the company pursues sustainable operations
and complies with the management system of international standards, so as to enhance the trust of customers
and become the most reliable partner.
259
7. Personal Data Protection
Prior to the implementation of the amended articles of Personal Data Protection Act, the Company had already
put in place a mechanism to safeguard the security of personal information, including the establishment of “Data
Classification Management Regulations”, “Personal Information Protection Guidelines”, “Information Security
Policy”, “Information Security Management Guidelines” and other regulations. The Board of Directors approved and
adopted the establishment of “Personal Data Protection Management Policy” during August 12, 2020, specifying
the procedures to be followed for the authorization, usage, storage, management and destruction of personal
data in compliance with the EU General Data Protection Regulation (GDPR) and the California Consumer Privacy
Act (CCPA); meanwhile, to demonstrate our commitment to the security of our customers’ personal information,
the Company established a dedicated unit for personal information protection (the Legal Section); in addition,
our subsidiary, Chailease International Financial Services (Singapore) Pte. Ltd. also established a Data Protection
Officer to ensure the implementation of the Personal Data Act.
Chailease Finance Co., Ltd. attaches great importance to the security of customer information and personal data
protection. Our information personnel has carried out the necessary protection mechanism for the personal
data in the system according to personal data security protection and operational risk level. Different access
authorization level is implemented based on different business scope. It also implements USB storage device
locking management to reduce the risk of data leakage from the flash drives and facilitate the control and
examination of data copying behavior. The internal transmission of customer information is also subject to strict
rules and controls, and is regularly reviewed by internal audit units to ensure that all control mechanisms are
effectively implemented.
In order to ensure the protection of customer information, general employees must receive training on personal
data protection and compliance with the Trade Secrets Act for their reference, cultivate awareness of personal data
protection, and implement the concepts of data security and personal data protection in their daily operations.
Moreover, the Company requests its employees and workers to fulfill their confidentiality and safekeeping
responsibilities. Internally, the Company implemented strict management regulations, established an audit trail
and record tracking system, and incorporated the audit and inspection mechanism for personal information
security into our annual information security inspection and internal control self-assessment operations, to
enhance our employees’ awareness and behavior in protecting customer information and complying with laws
and regulations through comprehensive and all-aspect checks.
In the future, the Company will continue to optimize the information security mechanism by optimizing the
email security verification mechanism, strengthening the customer data protection mechanism, improving the
existing information security mechanism and establishing a dedicated information security officer to build a
secure and reliable operating environment. The purpose of collecting customer information, the usage means
and the exercise of related rights and interests are stated in the consent form or contract to help customers fully
understand the rights and obligations of both parties.
Internal information security training for new employees (total training hours)
# of employee Hours
879.7 858
605
463
211.2 266.8
2019 2020 2021

The Company’s dedicated personnel for personal data protection handles and replies appropriately according to
the company’s relevant regulations, and formulates and modifies the content of the regulations. At the same time,
the Company strengthens internal policy promotion, and compiles and teaches cases to reduce the occurrence of
customer complaints through the improvement of operational processes and the strict implementation of internal
regulations. In 2021, there were no information security violations.
260
(8) Sources of Risks and Evaluations
1. The effect upon the company's profits (losses) of interest and exchange rate fluctuations and changes in the
inflation rate, and response measures to be taken in the future:

(1) Interest rate
Chailease runs the business of leasing and installment, and thus has the funding needs. Our funding comes
from financial institutions. When the pricing time and amounts of the asset and debt, both generating interests
as profit and expense, respectively, differ, our company is exposed to interest risk and this can give rise to future
volatile cash flows. Sensitivity of interest rate is caused by mismatch between the pricing dates, cash flows,
and other terms of assets and those of their debt counterparts. Since the market interest rate and profitability
yield curves change with time, the above mentioned mismatch can take place. The scale and characteristics of
such mismatch can cause the company to profit or lose. Our company's debts are mainly short-term and based
on floating rates. Any unexpected interest rate hike can cause increase in interest expense. Our mitigation
measures of risk management are:
A: Regular interest rate risk analysis and internal work specification to manage interest risk: Our interest rate
risk analysis includes evaluation of interest sensitivity gap, and such results can help assess exposed interest
rate risks of our company asset portfolios.
B: Modifying the structure of asset and debt to respond to the interest sensitivity gap analysis
C: Watching market interest rate closely to adjust our pricing policy if necessary
D: Signing interest rate swap contacts with financial institutions with good credit rating to lower interest rate
risk
(2) Exchange rate
Exchange rate risks exist in our company due to trading in foreign currencies and overseas investments.
Although the measuring currency of Chailease is the NT dollar, our income currencies come in Chinese Yuan,
US dollar, Thai Baht, Malaysia Ringgit, and others. The functional currency of our consolidated financial report is
the NT dollar, and hence the exchange rates between NT dollar and Chinese Yuan, US dollar, Thai Baht, Malaysia
Ringgit, and others can affect the consolidated financial statement.
The operational funding of our individual subsidiary relies on borrowing in local currencies. By borrowing and
lending in mostly the same currency, we achieve natural hedge. Only a very limited amount of assets and their
counterpart debts are denominated in different currencies. To sum up, there presents limited exchange rate
risk and only minor impact on the income.
(3) Inflation/deflation
Inflation and deflation both detrimentally impact the macro and micro economy by dragging down economic
efficiency, by halt in saving and investment, and by inefficiency in resource distribution with market price. Such
volatilities can harm our customers' business and they will consequently plan funding needs under uncertainty
in macro and micro economy. Hence our financial products and services may be exposed to volatilities due to
market or customers' expectation in inflation and deflation. Despite so, our historical profit and loss records
were never materially impacted. Chailease closely keeps an eye on global economic trends and proactively
interacts with customers and can therefore quickly react to the impact arising from inflation/deflation related
economic changes.
2. The company's policy regarding high-risk investments, highly leveraged investments, loans to other parties,
endorsements, guarantees, and derivatives transactions; the main reasons for the profits/losses generated
thereby; and response measures to be taken in the future
(1) High-risk investments, highly leveraged investments
The company's financial policy is safe and steady, while not engaging in other highly risky industries and
highly- leveraged investment. Every investment choice is scrutinized. Risks in this area are limited.
261
(2) Loans to other parties
Chailease has established the Standard Operating Procedures for Loan to Other Parties. Before lending,
Chailease conducts credit check in the borrower's credit situation, fund use plan, unsecured or secured,
and such loan's impact on Chailease's operation, financial risk, and stakeholders' equity. Then our company
carefully makes decisions on the loan amount, tenor, and interest rate calculation terms accordingly. Such
procedures have to be kept record, subsequently reported to and approved by the board of directors. The
complete examination procedure and report include whether such loan is reasonable, necessary, and the
borrower's full credit and risk assessment, and whether collateral is required and its appraisal. The company
aims to reduce risk by implementing these standard procedures.
(3) Endorsements and guarantees
Chailease has established the Standard Operating Procedures for Endorsements and Guarantees. Business
activities in this field shall comply with these Procedures. The company only does endorsements and
guarantees for the following entities: companies that Chailease directly or indirectly holds over 50% of their
voting shares, companies that hold over 50% of Chailease's voting shares, and an invested company by
Chailease on the basis of co-investment and in proportion to each investor's stake. While doing endorsement
and guarantee, Chailease carefully evaluates the guarantee amount, time period, reason, credit situation
and collateral. Such decision also has to be approved by the board of directors. The abovementioned careful
evaluation procedures include whether such guarantee is reasonable, necessary, and the guaranteed entity's
full credit and risk assessment, and such endorsement's impact on Chailease's operation, financial risk, and
stakeholders' equity. Also, Chailease evaluates whether collateral is required and its appraised value. In general
there presents no material impact on the company's consolidated financial report.
(4) Financial derivatives transactions
Chailease has established its Policies and Procedures for Financial Derivatives Transactions according to
Regulations Governing the Acquisition and Disposal of Assets by Public Companies promulgated by the
Financial Supervisory Commission. All derivatives trading related activities have to comply with the company
Policies and Procedures. Our target derivatives products are to hedge against company operation risks, and our
trading counterparties are mostly financial institutions working closely Chailease.
3. Research and development work to be carried out in the future, and further expenditures expected for research
and development work:
As Chailease basically does not belong to the manufacturing industry, it is not equipped with the product R&D
division. However, the Company and our subsidiaries establish their own Planning Departments to develop new
financial products and explore new market segments. Different departments and units are liaised according to
specific projects to provide customers with a one-stop shop for a full array of financial solutions. Recently we
successfully studied and developed various types of financial products, including heavy vehicle and automobile
financing, construction equipment financing , fishery inventory financing, micro-enterprises financing, real estate
financing, office equipment leasing, medical equipment financing, car rentals, ESCO financing and services, solar
power plant financing, investment, EPC and O&M, inventory financing (including cross-border), aircraft and ship
financing, gasoline wholesale business, and insurance brokerage. Such growing variety of products is to raise our
market position and complete product lines. Besides, the Company sets up Risk Management Department which
is responsible for revising and updating risk models to improve overall risk control of the Company.
In the future our core research will be focused on developing digital financial service platform, promoting cross-
organization business collaboration, cultivating niche markets, extending product value chain, and utilizing
technology tools. Projects of this goal include:
i. Build the online-to-offline digital financial platform to develop a diversified service ecosystem, and utilize
digital alternative credit assessment to enhance credit risk control;
ii. Continuously utilize RPA(Robotic Process Automation) to improve process and increase efficiency;
iii. Continuously develop the "FinMart", a platform encouraging citizens to participate in solar power plant
investments and profit sharing, to promote green energy and carbon reduction.
262
iv. Utilize information technology, recruit talents and build single-version application systems to enhance
efficiency and market competitiveness.
v. Cultivate niche markets and integrate shared resources to diversify our access to customers and create more

business opportunities, from distribution channel marketing, telephone- and text- marketing, websites, forums,
Facebook, blogs.
The estimated R&D budget in this area is NT$250mn in 2022.
4. Effect on the company's financial operations of important policies adopted and changes in the legal environment
at home and abroad, and measures to be taken in response:Our company is incorporated under the laws of the
Cayman Islands but business operation is mainly in Taiwan and the PRC market. Government of the Cayman
Islands focuses its economic activities on providing financial services. This nation is economically open, free
from currency exchange control and politically stable. Taiwan and the Mainland China are individually ruled by
their governments. Such unique political situation can affect our business operation with the changes in politics,
economies, and legal environments.
5. Effect of technological changes (including information security risks) and industry changes on the company's
financial business and countermeasures: Our company always pays attention to changes in technology and
related industries in which it operates, grasps the latest market trends and evaluates its impact on the company's
operations; actively recruits information security manpower and sets up a dedicated information security unit to
comply with laws and regulations, and reduce the information security risk. Meanwhile, our company adopts the
mechanism of separate marketing and credit evaluation to ensure good quality for each case and lower the risk
of doubtful debts and industrial changes. During the most recent fiscal year or during the current fiscal year up to
the publication date of the annual report, there has been little impact on our operation and financial performance
brought by technology and industrial changes.
6. Effect on the company's crisis management of changes in the company's corporate image, and measures to be
taken in response:The core management concepts of Chailease are value innovation, growth, trust, and discipline.
Our quality service has been highly acknowledged by customers amid constant improvement of management
and quality ever since incorporation. Chailease's corporate image has long been very good and so far never facing
adverse change causing the company to deal with this issue.
7. Expected benefits and possible risks associated with merger and acquisition, and mitigation measures being or to
be taken:
There is no ongoing merger and acquisition in the current fiscal year as of the date of publication of the annual
report. If the Company engages in merger and acquisition or business restructuring in the future, there will be no
guarantee of positive impacts on the Company's operations, as merger and acquisition or business restructuring
may result in negative impacts, such as corporate culture shocks and brain drain. However, if the company
engages merger and acquisition in the future, we will prudentially evaluate the expected benefits and possible
risks and obtain approval from the board of directors, and in accordance with the provisions of the Company's
articles of association, we will also need to get approval from the shareholders' meeting to engage in merger
and acquisition, and will adequately prepare and communicate to reduce the negative effects of merger and
acquisition.
8. Expected benefits and possible risks associated with any plant expansion and mitigation measures being or to be
taken:
263
Our core businesses are leasing, installment, loan, and factoring, and therefore there is no factory. Such item is not
applicable.
9. Risks associated with any consolidation of sales or purchasing operations, and mitigation measures being or to be
taken:Our core businesses are lease, installment, loan, and purchase of accounts receivables, and therefore such
item is not applicable.
10. Effect upon and risk to the company in the event a major quantity of shares belonging to a director, supervisor,
or shareholder holding greater than a 10 percent stake in the company has been transferred or has otherwise
changed hands, and mitigation measures being or to be taken: No major quantity of shares belonging to a
director or shareholder holding greater than a 10 percent stake in the company has been transferred or has
otherwise changed hands, and therefore such item is not applicable.
11. Effect upon and risk to company associated with any change in governance personnel or top management, and
mitigation measures being or to be taken: There has been no change in managerial authority in recent years and
as of the date of publication of the annual report. Our company has strengthened various corporate governance
measures, introduced independent directors, and set up an audit committee to enhance overall protection of
shareholders' equity and rights. Our daily operation depends fully on empowered professional managers. Teams
of these professional managers have contributed tremendously to the company and have been acknowledged
by shareholders. Such management competitive advantages should stay viable despite any possible change in
managerial authority in the future.
12. Our company's operation of businesses is in accordance with the government policies and legal requirements
of each country of registration and main business. Our company also keeps abreast of policy development and
any changes in the law, and takes appropriate countermeasures in response to changes in the environment. In
addition, as of the date of publication of the annual report, our company is not under any circumstance that
the company’s financial operations are materially affected by the policy development and changes in the law at
home and abroad.
Litigious and non- litigious matters. List major litigious, non-litigious or administrative disputes that: (A) involve
the company and/ or any company director, any company supervisor, the general manager, any person with
actual responsibility for the firm, any major shareholder holding a stake of greater than 10 percent, and/or
any company or companies controlled by the company; and (B) have been concluded by means of a final and
unappealable judgment, or are still under litigation. Where such a dispute could materially affect shareholders'
equity or the prices of the company's securities, the annual report shall disclose the facts of the dispute, amount
of money at stake in the dispute, the date of litigation commencement, the main parties to the dispute, and the
status of the dispute as of the date of publication of the annual report.
(1) Litigious and non-litigious matters
(a) Major litigious, non-litigious or administrative disputes that: (i) involve the company; and (ii) have been
concluded by means of a final and unappealable judgment, or are still under litigation. Where such a
dispute could materially affect shareholders' equity or the prices of the company's securities, the annual
report shall disclose the facts of the dispute, amount of money at stake in the dispute, the date of
litigation commencement, the main parties to the dispute, and the status of the dispute as of the date of
publication of the annual report: none.
(b) Major litigious, non-litigious or administrative disputes that: (i) involve any company director, any
company supervisor, the general manager, any person with actual responsibility for the firm, any major
shareholder holding a stake of greater than 10 percent, and/or any company or companies controlled by
the company; and (ii) have been concluded by means of a final and unappealable judgment, or are still
under litigation. Where such a dispute could materially affect shareholders' equity or the prices of the
company's securities, the annual report shall disclose the facts of the dispute, amount of money at stake
in the dispute, the date of litigation commencement, the main parties to the dispute, and the status of the
dispute as of the date of publication of the annual report: none.
(c) Any company director, supervisor, general manager, or any major shareholder holding a stake of greater
than 10 percent involving in matters as set forth in Article 157 of the Securities and Exchange Act, and
mitigation measure being taken: One general manager involved in this matters in 2021, the BOD of the
Company have exercised the right of claim for disgorgement in 2021.
264
(2) Any company director, any company supervisor, the general manager, or any major shareholder holding a
stake of greater than 10 percent have faced financial difficulty or loss of credit as of the date of publication of
the annual report: none.

13. Other important risks, and mitigation measures being or to be taken:
(1) Failing to effectively control credit risk and maintain asset quality
Credit risk means economic loss risk incurred when our customer or trading counterparty defaults on his debt
of the contract. The majority of our credit risks come from business activities of lease, installment, and direct
financing. If we fail to effectively control the credit risk, non-performing assets will increase. Overall asset
deterioration can detrimentally and materially affect the Company's operation and financial performance. To
prevent this, measures in response are as follows:
(a) We establish credit risk management mechanism and regularly monitor asset quality. We publicly
announce specific industries that are banned or excluded by Chailease. We adjust the credit policy and
business strategies if necessary to lower credit risks and their potential losses.
(b) To predict default risks of customers through credit rating score mechanism and credit risk models.
(c) To establish rigorous credit examination approval system and steps
(d) To strengthen sales and credit analyst's risk assessment ability through training and case studies.
(2) A lack of allowance for doubtful debts in direct financing and accounts receivables
Our company takes stock the amounts uncollectible, namely, allowance for doubtful debts. Shortage in
this allowance or provision can cause loss from credit risks of assets, impacting adversely and materially
our business operation and financial performance. However, while considering the allowance for doubtful
debts, we must follow Chailease's Policy for Allowance for Doubtful Debts, taking into account of debtor's
attributes, characteristics, financial status and trend, pass records of debt turning bad, default rate, collateral
value, whether it is secured, and so on. Our company not only takes stock of allowance for doubtful debts in
accordance with internal company rule, we also closely watch the adequacy ratio and modify the amount of
allowance if necessary to lower the risk. There is no issue of this risk factor adversely and materially impacting
our business operation and financial performance during the most recent fiscal year and as they stood on the
date of publication of the annual report.
(3) A lack of external funding to support business activities and repaying debts
Chailease runs the businesses of leasing, installment, and direct financing, and therefore we rely heavily on
external funding. Funding source is mostly from financial institutions. Among our borrowing, short-term
debts account for a large proportion. Hence we face the risks of fund shortage when these debts are due and
can perhaps being unable to renew the funding contract. To avoid this risk factor, we constantly cooperate
with several financial institutions to prevent relying solely on a number of them. Besides, we maintain long
term and steady relationships with these financial institutions. Under most circumstances, our credit line can
be renewed after the contract due dates. Meanwhile, we regularly conduct liquidity risk analysis, including
used credit line and potential liquidity gap. We take measures and modify business strategies in response to
the liquidity risk analysis. Increasing the proportion of long term debts and developing diversified funding
sources are also our goal to support growth, funding sources such as asset securitization and domestic and
overseas corporate bonds.
(4) Risk of talents loss in executives
Since our inception, Chailease relies heavily on business strategies, vision, and customer relationships of
the executive. They have contributed to the company successfully. Major change in the executive can cause
operational risks.
In view of this situation, the company continues to adopt and promote the following measures:
• Implement succession plan (Including but not limited to Chairman, President, Executive Vice President and
important operational mangers). In the company' s succession plan, the successor not only have excellent
work ability, but also need to fit for the core values of the company such as value, growth, integrity,
discipline, etc. in their mindset, and must demonstrate integrity and discipline behavior.
265
• In the company's succession plan, the talent development plan divided into four categories: Asia-Pacific
MA program, Key Talent Program, International Talent Program, and New York University Training Program.
These four major programs have their own targets and goals, and hope to create a competitive advantage
for the company in a decade through the development of talents.
• Among them, the company choose manager level or above who have excellent performance and potential
to join New York University's master courses of big data. After the completion of the courses, the company
expected that these managers assist the company to implement Digital Transformation.
• Beside, while the company actively expanding overseas markets in recent years. The company will also
arrange high-level managers (Executive Vice President or above) who has good ability and willingness to
go overseas to serve as the Managing Director of overseas subsidiaries, to develop a full range of business
management capabilities by taking responsible for subsidiaries' profit and loss. The company expects to
expand the talent pool of future successors.
(5) The protection of shareholders' equity
Chailease was incorporated under the laws of the Cayman Islands. Rules of such protection of the Cayman
Islands are slightly different from those of Taiwan's Company Act. We have modified the articles of association
according to the Examination Table of Foreign Issuers' Protection of Shareholders' Equity released by the
Taiwan Stock Exchange. It is also stated in our articles of association that our protection of shareholders'
equity shall be in line with the regulation of the Company Act of Taiwan. Through our modification in the
articles of association, protection of shareholders' equity is very close to or even at the same level as that of
Taiwan's Company Act. Despite our incorporation in the Cayman Islands, shareholders' equity protection
is not affected. For details of the major differences in regulation governing shareholders' equity protection
between Chailease's articles of association and our domestic regulation, please refer to section 5. Major
differences in the Company's articles of association and ROC regulations on shareholder protection of
Chapter VIII. Special notes.
(6) Information Security:
To strengthen management in information security, we establish the information security policy. Chailease
have subsequently established security guidelines, management specification, and internal control system in
accordance with the policy.
IT operation department shall evaluate risks and render evaluation results and improvement suggestions to
the internal audit department for its reference yearly. Such risk evaluation shall be based on internal control
items in the fields of information operation cycle and personal information processing, while risk scale
and major control points shall also be considered. By year end each operation unit shall undertake self-risk
evaluation and check according to early year plans and submit the results to the internal audit department
for review and then report to the executive of the company. This move aims to ensure implementation of
internal control systems.
The independent internal audit department shall draft annual information security audit and inspection plan
according to the results of self-risk evaluation and risks of each operation unit. This audit and inspection plan
shall be submitted to the management and the internal audit department shall conduct due diligence based
on the plan. Reports of due diligence will be submitted to the management. Defects and recommendations
thereof will be tracked and improved within a due date. Through the above related procedures, we try to
reduce risks, but it cannot guarantee that the company will not be affected by new risks and attacks in the
ever-changing information technology threats. The company will continue to do investment in security
protection operations in accordance with environmental changes, and cooperate with third-party service
providers to strengthen emergency response capabilities.
266
VIII. Special notes
(1) Information about the affiliates:

1. Organizational chart of affiliates
As of December 31, 2021

中租控股股份有限公司
Chailease Chailease Chailease

Chailease Chailease Chailease Chailease
International International Golden Bridge International
International International Fortune International International
Financial Services Financial Services (B.V.I.) Corp. Company
Financial Services Corp (Liberia) Maritime Holding Company (Malaysia)
(Liberia) Corp. (Labuan) Co., Ltd. (100%) (Hong Kong)
Co., Ltd.(100%) (100%) Co., Ltd.(100%) Limited (100%)
(100%) (100%) Limited (100%)
51% 11.88% My Leasing PT Chailease

(Mauritius) Corp. Indonesia
Chailease (100%) Finance(75%)
Special Purpose Chailease Berjaya Chailease Royal Chailease Berjaya (Note 4)
International
vehicles Finance Corp. Leasing Plc. Credit Sdn. Bhd.
Company
(100%)(Note 3) (63.08%) (60%) (70%)
(UK) Limited (100%) Chailease
｛
Corporation
PT Chailease
(97.8854%)
Philippines Chailease Royal Chailease Agency
Finance Indonesia
(85%)
Finance Plc. Sdn. Bhd. Chailease
Chailease Finance (60%) (100%)
Co., Ltd. International Corp.
｛
49% 36.61% (100%) (100%)
Indonesia
Chailease Royal Chailease Services
Insurance Broker Sdn. Bhd. 75% Chailease Finance
Asia Sermkij Leasing Chailease Energy Chailease Insurance
Public Company Integration Co., Ltd. Brokers Co., Ltd. Plc. (100%) International Corp. Chailease
Grand Pacific (60%) 25%
Holdings Corp. Limited (100%) (100%) Management
1.92% Consulting Co.,
｛
｛ Limited (100%)
Bangkok Grand Jirong Real Estate (Note 4)
Pacific Lease Public
Yun Tang Inc. Cambodia Malaysia Co., Ltd. (100%)
(100%)
｛
Grand Pacific Company Limited
Financing Corp. (99.99%)
Chailease Hong Kong
(100%)
Chailease Power Chailease Credit International
SK Insurance Technology Co.,Ltd. Services Co., Ltd. Commercial
(100%) (100%) 0.0003% Factoring
Broker Co., Ltd.
(99.9998%) Corporation. (100%)
Grand Pacific Main
Street Development CHU CHIANG Fina Finance &
Inc. (100%) Chailease Capital SOLAR ENERGY Trading Co., Ltd. JonRuei Finance
(Thailand) Co., Ltd. INC. (100%) (100%) Corporation. (100%)
Chuang Ju Limited
｛
(49%)
Partnership
｛
USA Chailease Auto Chailease Chailease

Rental Co., Ltd. Consumer Finance
Thailand (100%) Co., Ltd. (100%) 99.9997%
Commercial
Factoring
Corporation. (100%)
｛
Chailease Chailease Finance Chailease Cloud

Sing Chuang
International (B.V.I.) Company Service Co., Ltd.
Leasing Company Ltd. (100%) (Note 4) (100%) 0.0006%
Limited Partnership PRC
Ltd. (100%)
Special Purpose Chailease Specialty Chailease
vehicles Finance Co., Ltd. International
Chailease (100%)(Note 2) (100%) 99.9994% Financial Services
International Trading (Singapore) Pte. Ltd.
｛
Company Limited (100%)

(100%) Taiwan
｛
｛
Singapore
Vietnam
Note 1: Chailease Finance Securitization Trust 2019 , which is consolidated in Chailease Holding consolidated financial statements, is not included in the
organization chart.
Note 2: Special purpose vehicles for solar power business are mentioned in the following chart.
Note 3: Special purpose vehicles for vessel business are mentioned in the following chart.
Note 4: In the process of liquidation.
267
(1) Special Purpose Vehicles for Solar Power Business
2021.12.31
Chailease Finance Co., Ltd. (100%)
Tai Yuan Energy Integration Co., Ltd.

TUNG FENG INC.(100%)
(100%)
Chung Cheng Energy Integration Jung Yu Energy Integration Co., Ltd. Chung Ming Co., Ltd.
Co., Ltd. (100%) (100%) (100%)
Ho Lien Energy Integration Co., Ltd. Chung Yu Energy Integration Co., Chung Yao Co., Ltd.
(100%) Ltd. (100%) (100%)
Tien Sin Intelligent Green Energy Chung Wei Energy Integration Co., Yao Jih Co., Ltd.
Co., Ltd. (80%) Ltd. (100%) (100%)
He To Energy Integration Co., Ltd. Ho Hsuan Co., Ltd.

Tien Jen Energy Co., Ltd. (80%)
(100%) (100%)
Chung Ho Energy Integration Co., Hsia Ching Co., Ltd.

Tien Chu Energy Co., Ltd. (80%)
Ltd. (100%) (100%)
Chung Yen Energy Integration Co., Tien Hsing Integration Co., Ltd.
Tien Jui Energy Co., Ltd. (80%)
Ltd. (100%) (100%)
TUNG CHING ENERGY

Tien Ying Energy Co., Ltd. (80%)
TECHNOLOGY INC. (100%)
(2) Special Purpose Vehicles for Vessel Business

2021.12.31
Chailease International Financial

Services (Liberia) Corp.
(100%)
Chailease Bright Co., Ltd. Chailease Harmony Co., Ltd.

(100%) (100%)
Chailease Cherish Co., Ltd. Chailease Virtue Co., Ltd.

(100%) (100%)
Chailease Faith Co., Ltd. Chailease Blossom Co., Ltd.

(100%) (100%)
Chailease Glory Co., Ltd.

(100%)
268
2. Basic information about the affiliates
Unit: Thousand
Establishment Major business or
Name of the company Address Paid-in capital
date products

Chailease International
Tiara Labuan, Jalan Tanjung Batu, 87000 F.T.
Company (Malaysia) 20091103 USD 990,999 Investment
Labuan, Malaysia
Limited
8F. to 12F., No.362, Ruiguang Rd., Neihu Dist., Installment sales,
Chailease Finance Co., Ltd. 19800623 NTD 24,225,000
Taipei City 114, Taiwan (R.O.C.) lease and factoring
Installment sales,
Fina Finance & Trading Co., 5F., No.362, Ruiguang Rd., Neihu Dist., Taipei
19870313 NTD 10,163,000 import and export and
Ltd. City 114, Taiwan (R.O.C.)
factoring
Chailease Consumer 6F., No.392, Sec. 1, Neihu Rd., Neihu Dist., Lease, installment
20000603 NTD 3,453,040
Finance Co., Ltd. Taipei City 114, Taiwan (R.O.C.) sales and factoring
China Specialty Finance 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
19910123 NTD 2,495,607 Installment sales
Co., Ltd. City 114, Taiwan (R.O.C.)
Installment sales,
Chailease Finance (B.V.I.) Palm Grove House P.O. Box 438, Road Town,
19950508 USD 40,910 overseas financing and
Company Ltd. <Note 1> Tortola, British Virgin Islands
financial consultation
Chailease Auto Rental Co., 5F., No.362, Ruiguang Rd., Neihu Dist., Taipei
20060220 NTD 1,559,832 Lease
Ltd. City 114, Taiwan (R.O.C.)
Installment sales,
Chailease Credit Services 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
20080526 NTD 10,000 lease and third- party
payment
Personal insurance
Chailease Insurance 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
20110623 NTD 8,000 broker and property
Brokers Co., Ltd. City 114, Taiwan (R.O.C.)
insurance broker
Lease of cloud
Chailease Cloud Service 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
20130129 NTD 25,000 software and
hardware
28th Floor, Saigon Trade Centre, 37 Ton Duc
Chailease International Lease and insurance
20061009 Thang St., Ben Nghe Ward, District 1, Ho Chi VND 580,697,313
Leasing Company Limited agent
Minh City, Vietnam
24th Fl., Sathorn City Tower, 175 South Automobile hire
Asia Sermkij Leasing Public
19840817 Sathorn Road, Tungmahamek,Sathorn, THB 2,639,217 purchase and loan
Company Limited
Bangkok 10120, Thailand business
Bangkok Grand Pacific 10/1th Fl., Sathorn City Tower, 175 South
Hire purchase, leasing
Lease Public Company 19890615 Sathorn Road, Tungmahamek, Sathorn, THB 1,096,250
and loan business
Limited Bangkok 10120, Thailand
25/1th Fl., Sathorn City Tower, 175 South
SK Insurance Broker Co.,
20170412 Sathorn Road, Tungmahamek, Sathorn, THB 10,000 Insurance broker
Ltd.
Bangkok 10120, Thailand
Chailease Capital No. 984/8 Rama VI Road, Thanon Phetchaburi,
20200116 THB 130,000 Investment
(Thailand) Co., Ltd. Ratchathewi, Bangkok 10400 Thailand
Grand Pacific Holdings 901 Corporate Center Drive, #300, Monterey Commercial real estate
19870925 USD 7,701
Corp. Park, CA 91754, U.S.A. finance
Grand Pacific Financing 901 Corporate Center Drive, #300, Monterey Commercial real estate
19830824 USD 10,000
Corporation Park, CA 91754, U.S.A. finance
Grand Pacific Main Street 901 Corporate Center Drive, #300, Monterey Commercial real estate
19900307 USD 0.5
Development Inc. Park, CA 91754, U.S.A. finance
My Leasing (Mauritius) 10th Floor, Raffles Tower, 19 Cybercity, Ebene,
20040603 USD 285,655 Investment
Corp. Mauritius
Hongqiao Shanghai Building B, 2683- 15
20050412 unit, No.100, Zunyi Road, Changning District, USD 1,045,000 Lease
Finance Corporation
Shanghai, PRC
Wholesale of
construction materials,
Room 1101-2、1101-7, 11th floor, No.14,
Chailease International chemical materials and
20080717 Lane 1401, JiangChang Road, Jingan District, CNY 540,000
Corp. products, mechanical
Shanghai, PRC
machinery and
automobile parts,
Airport Business Park W13-4, No.76, Huan He
Chailease Finance
20110127 North Road, Airport Industrial Area, Tianjin, USD 140,000 Lease and factoring
International Corp.
PRC
269
date products
Leasing of self- owned
Building 1, Lane 631, Jinzhong Rd.,
Jirong Real Estate Co., Ltd. 20121112 CNY 170,000 buildings and property
Changning District, Shanghai, PRC
management
11th floor, No.14, Lane 1401, Jiangchang
Commercial Factoring 20191223 CNY 50,000 Factoring
Road, Jingan District, Shanghai, PRC
Corporation
Room 202,Checking Office,No. 6262,Australia
JonRuei Finance
20200106 Road,Dongjiang Free Trade Port Zone,China CNY 1,000 Lease
Corporation
(Tianjin) Pilot Free Trade Zone
Palm Grove House, P.O. Box 438, Road Town,
Golden Bridge (B.V.I.) Corp. 20080409 USD 536,150 Investment
Tortola, British Virgin Islands
Vistra Corporate Services Centre, Wickhams Installment sales,
20130402 Cay II, Road Town, Tortola, VG1110, British USD 97,000 overseas financing and
Financial Services Co., Ltd.
Virgin Islands financial consultation
80 Broad Street, City of Monrovia, County of
Financial Services (Liberia) 20141124 USD 10 Ship leasing business
Montserrado, Republic of Liberia
Corp.
Development and
8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
Yun Tang Inc. 20120328 NTD 500,691 trading on solar power
City 114, Taiwan (R.O.C.)
plants
Energy saving
services, engineering,
procurement,
Chailease Energy 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
20151104 NTD 50,000 construction,
Integration Co., Ltd. City 114, Taiwan (R.O.C.)
operations and
maintenance on solar
power plants
Development and
Chailease Power 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
20160629 NTD 770,000 trading on solar power
Technology Co., Ltd. City 114, Taiwan (R.O.C.)
plants
Chuang Ju Limited 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
Partnership City 114, Taiwan (R.O.C.)
Sing Chuang Limited 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
Partnership City 114, Taiwan (R.O.C.)
Investment,
20150326 22 Upper Ground, London, SE1 9PD, UK GBP 683,287 market survey and
Company (UK) Limited
consultancy services
Hire purchase of
Chailease Berjaya Credit Lot 6.08, 6th floor, Plaza First Nationwide, No.
20150909 MYR 150,000 vehicles and
Sdn. Bhd. 161, Jalan Tun H.S. Lee, 50000 Kuala Lumper
consumer goods
28th Floor, Saigon Trade Centre,37 Ton Duc
20160706 Thang St., Ben Nghe Ward, District 1, Ho Chi VND 111,300,000 Trading
Trading Company Limited
Minh City, Vietnam
Tiara Labuan, Jalan Tanjung Batu, 87000 F.T.
Financial Services (Labuan) 20160119 USD 30 Aircraft leasing
Labuan, Malaysia
Co., Ltd.
Chailease Agency Sdn. Lot 6.08, 6th floor, Plaza First Nationwide, No.
20170127 MYR 100 Insurance agency
Bhd. 161, Jalan Tun H.S. Lee, 50000 Kuala Lumpur
3F, No.216B, Norodom Blvd(41), Sangkat
Chailease Royal Leasing Vehicle
20170206 Tonle Basak, Khan Chamkar Mon, Phnom USD 5,000
Plc. Finance lease
Penh, Cambodia
5F, 45 San Miguel Building, San Miguel Ave.,
Chailease Berjaya Finance
20170929 Ortigas Center, Pasig City, Metro Manila, PHP 650,000 Vehicle Financing
Corporation
Philippines
12F, No.146, Preah Norodom Blvd, Sangkat
Chailease Royal Finance Motor, SME and
20190517 Tonle Bassak, Khan Chamkar Mon, Phnom USD 15,520
Plc. Vehicle Financing
Penh, Cambodia
31/F Tower two Times Square 1 Matheson
Company (Hong Kong) 20180213 USD 17,100 Investment
Street Causeway Bay HK
Limited
Lot 6.08, 6th floor, Plaza First Nationwide,
Chailease Services Sdn.
20190320 No.161, Jalan Tun H.S. Lee, 50000 Kuala MYR 100 Insurance agency
Bhd.
Lumpur
270
date products
Development and
Chung Cheng Energy 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei

plants
Development and
Ho Lien Energy Integration 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
20191025 NTD 3,460,588 trading on solar power
plants
Development and
Tai Yuan Energy Integration 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
plants
Development and
Chung Ho Energy 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
20200409 NTD2,792,124 trading on solar power
plants
Development and
Chung Yen Energy 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
plants
Development and
TUNG FENG INC. 20190625 NTD 34,010 trading on solar power
plants
Development and
Jung Yu Energy Integration 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
plants
Development and
Chung Yu Energy 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
20201102 NTD 500 trading on solar power
plants
Development and
Chung Wei Energy 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
plants
Development and
He To Energy Integration 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
plants
Chailease International Installment sales,
18 Robinson Road,
Financial Services 20191015 USD 109,000 overseas financing and
#15-01, Singapore (048547)
(Singapore) Pte. Ltd. financial consultation
PT Chailease Indonesia Menara BCA Grand Indonesia, 45/F & 50/F,
Finance 20190702 Jalan M.H. Thamrin 1 RT. 1 RW. 5 Menteng, IDR 13,000,000 Vehicle Financing
<Note 1> Menteng Jakarta Pusat Dki Jakarta
Chailease International 80 Broad Street, City of Monrovia, County of
20200430 USD 10 Vessel Investment
Fortune Corp (Liberia) Montserrado, Republic of Liberia
Chailease Management
31/F Tower two Times Square 1 Matheson
Consulting Co. Limited 20191025 HKD 500 Consultancy services
Street Causeway Bay HK
<Note 1>
13-2-106, Zhongguancun Science and
Chailease Commercial Technology Park integrates the first district
20211203 CNY 50,000 Factoring
Factoring Corporation of the business park, Tianjin Economic and
Technological Development Zone Binhai
Wisma 46 Kota BNI Lt. 28 unit 7-13,
Jl. Jend. Sudirman Kav. 1, RT 010 RW
PT Chailease Finance
20211213 009, Kecamatan Tanah Abang - Kelurahan IDR 250,000,000 Vehicle Financing
Indonesia
Karet Tengsin, Kota ADM Jakarta Pusat - DKI
Jakarta, 10220, Indonesia
12F, No.146, Preah Norodom Blvd, Sangkat
Chailease Royal Insurance
20201217 Tonle Bassak, Khan Chamkar Mon, Phnom USD 150 Insurance Broker
Broker Plc.
Penh, Cambodia
Development and
TUNG CHING ENERGY 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
TECHNOLOGY INC. City 114, Taiwan (R.O.C.)
plants
Development and
Tien Jen Energy Co., Ltd. 20191202 NTD 680,000 trading on solar power
plants
Development and
Tien Sin Intelligent Green 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
Energy Co., Ltd. City 114, Taiwan (R.O.C.)
plants
271
date products
Development and
Tien Jui Energy Co., Ltd. 20191129 NTD 680,000 trading on solar power
plants
Development and
Tien Chu Energy Co., Ltd. 20190517 NTD 680,000 trading on solar power
plants
Development and
Chung Ming Co., Ltd. 20210628 NTD 300,050 trading on solar power
plants
Development and
Chung Yao Co., Ltd. 20210629 NTD 20,050 trading on solar power
plants
Development and
Tien Ying Energy Co., Ltd. 20190517 NTD 12,800,000 trading on solar power
plants
Ship Operation
Chailease Bright Co., Ltd. 20210804 80 Bread Street, Monrovia, Liberia USD 10
Business
Ship Operation
Chailease Cherish Co., Ltd. 20210804 80 Bread Street, Monrovia, Liberia USD 10
Business
Ship Operation
Chailease Faith Co., Ltd. 20210804 80 Bread Street, Monrovia, Liberia USD 10
Business
Chailease Harmony Co., Ship Operation
20210804 80 Bread Street, Monrovia, Liberia USD 10
Ltd. Business
Ship Operation
Chailease Virtue Co., Ltd. 20210804 80 Bread Street, Monrovia, Liberia USD 10
Business
Development and
Yao Jih Co., Ltd. 20210813 NTD 50 trading on solar power
plants
Development and
Ho Hsuan Co., Ltd. 20210816 NTD 1,253,120 trading on solar power
plants
Development and
Hsia Ching Co., Ltd. 20210826 NTD 50 trading on solar power
plants
Ship Operation
Chailease Blossom Co., Ltd. 20210902 80 Bread Street, Monrovia, Liberia USD 10
Business
Ship Operation
Chailease Glory Co., Ltd. 20210902 80 Bread Street, Monrovia, Liberia USD 10
Business
Development and
Tien Hsing Energy 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
plants
Corporate Filing Services Ltd., P.O. Box 613
20210908 GT, 3rd Floor Harbour Centre, George Town, USD 100 Investment
Maritime Holding Co.,Ltd
Grand Cayman KY1-1107, Cayman Islands
Development and
CHU CHIANG SOLAR 8F., No.362, Ruiguang Rd., Neihu Dist., Taipei
ENERGY INC. City 114, Taiwan (R.O.C.)
plants
Note 1. In the process of liquidation.
3. Shareholders representing both the holding company and affiliates: None.

4. The industry covered in the operation of affiliates: Please refer to the above section of “Basic information about
the affiliates” for details.
272
5. Information on the director, supervisor and president of affiliates
December 31, 2021 Unit:1,000 shares (%)
Shares held
Name of the company Position Name Representing

Shares Percentage
Chailease Holding Company
Chailease International Director Chia-Jeang Liu
Limited
Company (Malaysia) 1,614,372 100.00%
Limited Chailease Holding Company
Acting Director Huei-Yeu Yang
Limited
Chailease International Limited
97,000 100.00%
Financial Services Co., Ltd. Chailease Holding Company
Limited
Director/President Ming-Ching Hou
Director Tian-Fu Yu
Chailease Finance Co., Chailease International
Director Hsiu Tze Cheng 2,422,500 100.00%
LTD. Company (UK) Limited
Director Shih-Jen Shen
Supervisor Jung-Tao Lee
Supervisor Chia-Jeang Liu
Chairman Fong-Long Chen Chailease Finance Co., Ltd.
Director/President Ming-Ching Hou Chailease Finance Co., Ltd.
Director Hsiu Tze Cheng Chailease Finance Co., Ltd.
Fina Finance & Trading
Director Shi-Cha Lai Chailease Finance Co., Ltd. 1,016,300 100.00%
Co., Ltd.
Director Tze-Ting Yang Chailease Finance Co., Ltd.
Supervisor Jung-Tao Lee Chailease Finance Co., Ltd.
Supervisor Chia-Jeang Liu Chailease Finance Co., Ltd.
Chailease Finance (B.V.I)
Chairman Fong-Long Chen Chailease Finance Co., Ltd. 40,910 100.00%
Company Ltd.
Chairman/President Fong-Long Chen Fina Finance & Trading Co.
Director Ming-Ching Hou Fina Finance & Trading Co.
Director Jui-Hsin Chen Fina Finance & Trading Co.
Chailease Consumer
Director Hsiu Tze Cheng Fina Finance & Trading Co. 345,304 100.00%
Finance Co., Ltd.
Director Ming-Tsung Chang Fina Finance & Trading Co.
Supervisor Jenn-Yuan Liu Fina Finance & Trading Co.
Supervisor Chia-Jeang Liu Fina Finance & Trading Co.
Chailease Specialty President/Director Ming-Ching Hou Chailease Finance Co., Ltd.

249,561 100.00%
Finance Co.,Ltd Director Tian-Fu Yu Chailease Finance Co., Ltd.
Supervisor Chung-Chiang Yang Chailease Finance Co., Ltd.
Chairman/President Tze-Ting Yang Chailease Finance Co., Ltd.
Chailease Auto Service Director Yuan-Tai Hung Chailease Finance Co., Ltd.
155,983 100.00%
Co.,Ltd. Director Kuang-Hsien Tai Chailease Finance Co., Ltd.
Supervisor Wen-Hui Lin Chailease Finance Co., Ltd.
273
Shares held
Shares Percentage
Chailease Credit Services Director Shi-Cha Lai Chailease Finance Co., Ltd.
1,000 100.00%
Co.,Ltd. Director/President Ming-Ching Hou Chailease Finance Co., Ltd.
Chairman Ming-Ching Hou Chailease Finance Co., Ltd.
Chailease Insurance Director / Manager Ming-Tsung Chang Chailease Finance Co., Ltd.
800 100.00%
Brokers Co., Ltd. Director Shi-Min Sun Chailease Finance Co., Ltd.
Supervisor Ming-Hui Chen Chailease Finance Co., Ltd.
Chairman Kuen-Ming Chen Chailease Finance Co., Ltd.
Director/ General
Chi-Chang Wu Chailease Finance Co., Ltd.
Director
Director Yeu-Horng Jeng Chailease Finance Co., Ltd.
Chailease International Director Ching-Ying Sun Chailease Finance Co., Ltd.

Leasing Company Limited Director Huei-Yeu Yang Chailease Finance Co., Ltd. (Note 1) 100.00%
(Vietnam).
Chairman of Control
Ming-Hui Lin Chailease Finance Co., Ltd.
Committee
Member of Control
Ly Mong Yen Chailease Finance Co., Ltd.
Committee
Member of Control
Quach Ngoc My Chailease Finance Co., Ltd.
Committee
Chairman Tze-Ting Yang
Company (Malaysia) Limited
Director/ Managing Chailease International
Lai-Wang Tang
Director Company (Malaysia) Limited
Director Fong-Long Chen
Director Ying-Chih Liao
Director Ying-Hui Shen
Asia Sermkij Leasing Director Jui-Hsin Chen
Company (Malaysia) Limited 266,319 50.45%
Public Company Limited
Director Mr . Tientavee Saraton
Independent
Ms . Patima Chavalit
Director
Independent Mr . Pradit
Director Sawattananond
Independent
Mr . Anant Savattananon
Director
Independent Dr . Supriya
Director Kuandachakupt
Independent
Mr . Kasem Akanesuwan
Director
274
Shares held
Shares Percentage
Chairman Tze-Ting Yang

Company Limited
Director Jui-Hsin Chen
Company Limited
Company Limited
Bangkok Grand Pacific
Director/ Managing Asia Sermkij Leasing Public
Lease Public Company Lai-Wang Tang 55,306 50.45%
Director Company Limited
Limited
Director/ Acting Asia Sermkij Leasing Public
Ying-Hui Shen
General Manager Company Limited
Director Mr . Tientavee Saraton
Company Limited
Independent
Ms . Patima Chavalit
Director
Chairman Che-Chih Chen
Limited
Grand Pacific Holdings Limited
7,700 100.00%
Corp. Chailease Holding Company
Director Richard Tao
Limited
Director Christina Wang
Limited
Chairman Che-Chih Chen Grand Pacific Holdings Corp.
Grand Pacific Financing
Director Christina Wang Grand Pacific Holdings Corp. 1,000 100.00%
Corp.
Director Richard Tao Grand Pacific Holdings Corp.
Chairman Che-Chih Chen Grand Pacific Holdings Corp.
GP Main St. Development
Director Christina Wang Grand Pacific Holdings Corp. ( Note 2) 100.00%
Corp., Inc
Director Anni Lee Grand Pacific Holdings Corp.
Director Fong-Long Chen Golden Bridge(B.V.I.)Corp
My Leasing (Mauritius)
Director Ming-Ching Hou Golden Bridge(B.V.I.)Corp 285,655 100.00%
Corp.
Director Kuen-Ming Chen Golden Bridge(B.V.I.)Corp
Chairman Fong-Long Chen My Leasing (Mauritius) Corp.
Director/President Kuen-Ming Chen My Leasing (Mauritius) Corp.
Chailease International (Note 1) 97.89%
Finance Corporation Director Kuo-Teng Qiu My Leasing (Mauritius) Corp.
Supervisor Ming-Ching Hou My Leasing (Mauritius) Corp.
Chailease International Finance
Corporation
Director/President Kuen-Ming Chen
Chailease International Corporation
(Note 1) 97.89%
Corp. Chailease International Finance
Director Wen-Cheng Chen
Corporation
Supervisor Ming-Ching Hou
Corporation
Corporation
Director/President Dao-Ming Wang
Chailease Finance Corporation
(Note 1) 98.41%
International Corp. Chailease International Finance
Deputy Chairman Kuen-Ming Chen
Corporation
Supervisor Ming-Ching Hou
Corporation
275
Shares held
Shares Percentage
Corporation
Director/President Kuen-Ming Chen
Corporation
Jirong Real Estate Co., Ltd. (Note 1) 97.89%
Director Guo-Teng Chiou
Corporation
Supervisor Jia-Cheng Lin
Corporation
Golden Bridge (B.V.I.) Chailease Holding Company
Director Fong-Long Chen 506,150 100.00%
Corp. Limited
Chairman Fong-Long Chen Chailease Finance Co. , Ltd.
Chailease Cloud Service Director/President Ming-Ching Hou Chailease Finance Co. , Ltd.
2,500 100.00%
Co., Ltd. Director Xiao-Tong Li Chailease Finance Co. , Ltd.
Supervisor Shi-Min Sun Chailease Finance Co. , Ltd.
Financial Services (Liberia) Director Ming-Ching Hou (Note 2) 100.00%
Limited
Corp.
Director Ming-Ching Hou (Note 2) 100.00%
Fortune Corp (Liberia)
Chairman/President Ming-Ching Hou Chailease Finance Co., Ltd.
Yun Tang Inc. Director Min-Hung Hsieh Chailease Finance Co., Ltd. (Note 1) 100.00%
Director Jui-Hsin Chen Chailease Finance Co., Ltd.
Director/President Ming-Ching Hou Chailease Finance Co., Ltd.
Chailease Energy
Director Jui-Hsin Chen Chailease Finance Co., Ltd. 5,000 100.00%
Director Min-Hung Hsieh Chailease Finance Co., Ltd.
Chailease International Chailease International
Director Ming-Ching Hou 683,287 100.00%
Company (UK) Limited. Company (Malaysia) Limited
Director Ying-Chih Liao
Chairman Ming-Ching Hou
Huei-Yeu Yang
Chailease Berjaya Credit
Chailease International 105,000 70.00%
Sdn. Bhd. Director Lai-Wang Tang
Director Lee Kok Chuan Berjaya Group
Director Vivienne Cheng Berjaya Group
Financial Services Director Ming-Ching Hou 30 100.00%
Financial Services Co., Ltd.
(Labuan) Co., Ltd.
Chailease Power Director/President Ming-Ching Hou Chailease Finance Co., Ltd.

77,000 100.00%
Technology Co., Ltd. Director Min-Hung Hsieh Chailease Finance Co., Ltd.
Supervisor Jui-Hsin Chen Chailease Finance Co., Ltd.
Director/ General
Chia-Jeang Liu Chailease Finance Co., Ltd.
Chailease International Director
Trading Company Director Yu-Cheng Kuo Chailease Finance Co., Ltd. (Note 1) 100%
Limited.
Director Xi-Yuan Huang Chailease Finance Co., Ltd.
276
Shares held
Shares Percentage
Chairman Ming-Ching Hou

Director/ Managing
Chailease Agency Sdn. Huei-Yeu Yang 70 70.00%
Director
Bhd.
Director Toh Chun Fong Berjaya Group
Chairman Hsiu Tze Cheng
Yi-Chen Cheng
Chailease Royal Leasing
Independent 3,000 60.00%
Plc. Min-Hung Hsieh
Director
Director Neak Okhna Kith Meng Royal Group
Director William Mark Hanne Royal Group
Director Lai-Wang Tang
SK Insurance Broker Co.,
Director/ Acting 505 50.45%
Ltd. Ying-Hui Shen
General Manager
Sing Chung Limited Executive Chailease Cloud Service CO.,
Tien-Fu Yu (Note 3) 100.00%
Partnership Representative LTD.
Chuang Ju Limited Executive Chailease Credit Services
Shih-Cha Lai (Note 3) 100.00%
Partnership Representative Co.,Ltd.
Chaiman Hsiu Tze Cheng
Director/President Yuan-I Li
Chailease Berjaya Finance
Director Tan Eng Hwa Berjaya Group 410,000 63.08%
Corporation
Director Casey M. Barleta
Independent
Jaime Y. Ladao
Director
Chailease International Director Fong-Long Chen
Limited
Company (Hong Kong) 17,100 100.00%
Limited. Chailease Holding Company
Director King Wai Alfred Wong
Limited
Chaiman Hsiu-Tze Cheng
Yi-Chen Cheng
Chailease Royal Finance
Director Neak Okhna Kith Meng Royal Group 9,312 60.00%
Plc.
Director William Mark Hanne Royal Group
Independent
Jing-Ying Sun
Director
Chaiman Fong-Long Chen My Leasing(Mauritius) Corp.
Financial Services Director Chee Wee Goh My Leasing(Mauritius) Corp. 109,000 100.00%
(Singapore) Pte. Ltd.
Director Huei-Yeu Yang My Leasing(Mauritius) Corp.
Chaiman Michael Lin
Chailease Services Sdn.
Director Chad Ueng 70 70.00%
Bhd.
Director Yeo Cheng Hee Berjaya Group
Director Chih-Ho Wei
Company (Hong Kong) Limited
PT Chailease Indonesia Director Hsing-Jen Liu
Company (Hong Kong) Limited 97,500 75.00%
Finance
Director Eva Sumantri Indosurya Group
Director Victor Ciptowibowo Indosurya Group
277
Shares held
Shares Percentage
Chaiman Fong-Long Chen Chailease Finance Co., Ltd.
Chung Cheng Energy Director Ming-Ching Hou Chailease Finance Co., Ltd.
30,340 100.00%
Integration Co., Ltd. Director Min-Hung Hsieh Chailease Finance Co., Ltd.
Chaiman Fong-Long Chen Chailease Finance Co., Ltd.
Ho Lien Energy Director/President Ming-Ching Hou Chailease Finance Co., Ltd.

346,059 100.00%
Integration Co., Ltd. Director Min-Hung Hsieh Chailease Finance Co., Ltd.
Chailease Management
Director Claudia Euna KO 500 100.00%
Consulting Co., Ltd.
Director Ching-Ying Sun
Chailease Capital
Director Jui-Hsin Chen 40,000 49.00%
Director Andre J.L. Koo
Chailease International Director Fong-Long Chen
Commercial Factoring (Note 1) 97.89%
Corporation. Supervisor Zi-Chao Lin
Jon Ruei Finance Executive Director Kuen-Ming Chen

(Note 1) 97.89%
Corporation. Supervisor Zi-Chao Lin
Tai Yuan Energy Chairman Fong-Long Chen Chailease Finance Co., Ltd.
117,005 100.00%
Integration Co., Ltd. Supervisor Jui-Hsin Chen Chailease Finance Co., Ltd.
Chung Ho Energy
279,212 100.00%
Integration Co., Ltd. Chairman Fong-Long Chen Chailease Finance Co., Ltd.
Chung Yen Energy
Chairman Fong-Long Chen Chailease Finance Co., Ltd. 77,540 100.00%
Chung Yu Energy
Chairman Ming-Ching Hou Chailease Finance Co., Ltd. 50 100.00%
Chung Wei Energy
Jung Yu Energy
Chairman Ming-Ching Hou Chailease Finance Co., Ltd. 228,221 100.00%
He To Energy Integration
Co., Ltd.
Tung Feng Inc. Director Ming-Ching Hou Chailease Finance Co., Ltd. (Note 1) 100.00%
Chairman Yi-Chen Cheng
Chailease Royal Insurance
Director Szu-Yuan Chang 90 60%
Broker Plc
Director Neak Okhna Kith Meng
Tung Ching Energy
Director Ming-Ching Hou Chailease Finance Co., LTD. (Note 1) 100.00%
Technology Inc.
Ho Lien Energy Integration Co.,
Ltd.
Director Ming-Ching Hou
Tien Jen Energy Co., Ltd. Ltd. 54,400 80.00%
Director Sheng-Hui Ku Ysolar Co., Ltd.
Supervisor Jenn-Yuan Liu
Ltd.
Tien Sin Intelligent Green Director Ming-Ching Hou
Ltd. 54,400 80.00%
Energy Co., Ltd.
Director Sheng-Hui Ku Ysolar Co., Ltd.
278
Shares held
Shares Percentage

Ltd.
Tien Jui Energy Co., Ltd. Ltd. 54,400 80.00%
Director Sheng-Hui Ku Ysolar Co., Ltd
Ltd.
Tien Chu Energy Co., Ltd. Ltd. 54,400 80.00%
Jung Yu Energy Integration Co.,
Chung Ming Co., Ltd. Chairman Ming-Ching Hou 30,005 100.00%
Ltd.
Chung Yao Co., Ltd. Chairman Ming-Ching Hou 2,005 100.00%
Ltd.
Ltd.
Tien Ying Energy Co., Ltd. Ltd. 102,400 80.00%
Chailease Bright Co., Ltd. Director Ming-Ching Hou (Note 2) 100.00%
Chailease Cherish Co., Ltd. Director Ming-Ching Hou (Note 2) 100.00%
Ace Marine Co., Ltd. Director Ming-Ching Hou (Note 2) 100.00%
Chailease Harmony Co.,
Ltd.
Chailease Virtue Co., Ltd. Director Ming-Ching Hou (Note 2) 100.00%
Chailease Blossom Co.,
Ltd.
Chailease Glory Co., Ltd. Director Ming-Ching Hou (Note 2) 100.00%
Director Ming-Ching Hou 100 100.00%
Maritime Holding Co.,Ltd
Yao Jih Co., Ltd. Chairman Ming-Ching Hou 5 100.00%
Ltd.
Ho Hsuan Co., Ltd. Chairman Ming-Ching Hou 125,312 100.00%
Ltd.
Hsia Ching Co., Ltd Chairman Ming-Ching Hou 5 100.00%
Ltd.
President Director Hsing-Jen Liu
Deputy President
PT Chailease Finance Yu-Ting Huang
Director 2,125,000 85.00%
Indonesia
Director Lita Thjiu
Director Virmanto
Tien Hsing Integration Chung Ho Energy Integration
Chairman Ming-Ching Hou 100 100.00%
Co., Ltd Co., Ltd
Chu Chiang Solar Energy Chailease Power Technology
Inc. Co., Ltd.
Executive Director Fong-Long Chen
Chailease Commercial
Supervisor Wen-Shu Hsieh (Note 1) 97.89%
Factoring Corporation.
President Kuen-Ming Chen
Note 1: It is a limited company without issuing stocks.
Note 2: Share holding less than 1,000 Shares.
Note 3: It is a limited partnership without issuing stocks
279
6. Operational statuses of affiliates
Net income EPS
Paid-in Total Operating Operating
Name of affiliates Total assets Net value or loss (after (after tax)
capital liabilities revenues income
tax) (NT$)
Chailease
International
24,662,857 61,956,471 1,756,622 60,199,849 64,502 6,173 11,294,426 7.52
Company (Malaysia)
Limited
Chailease Finance Co.,
24,225,000 238,730,170 182,744,801 55,985,369 16,652,670 6,919,329 11,612,116 5.00
Ltd.
Fina Finance & Trading
10,163,000 120,751,021 98,085,595 22,665,426 10,594,935 4,176,795 4,344,455 4.27
Co., Ltd.
Chailease Consumer
3,453,040 22,308,057 15,572,899 6,735,158 1,447,915 633,132 1,105,317 3.20
Finance Co., Ltd.
China Specialty
2,495,607 6,868,034 213,388 6,654,647 178,500 116,593 294,519 1.18
Finance Co., Ltd.
Bangkok Grand Pacific
Lease Public Company 915,040 9,640,585 8,189,383 1,451,202 809,294 256,412 205,168 1.87
Limited
Chailease Finance
- - - - 157,754 (15,650) (15,486) Note 3
(B.V.I) Company Ltd.
Asia Sermkij Leasing
Public Company 2,202,955 42,853,420 35,489,283 7,364,137 3,203,725 1,112,746 919,553 2.67
Limited
Grand Pacific Holdings
213,150 487,339 12,936 474,403 260 (488) (63,476) (8.24)
Corp.
Grand Pacific
276,800 2,891,528 843,570 2,047,958 322,561 198,014 179,930 17.99
Financing Corp.
Grand Pacific Main
Street Development - - - - - - - -
Inc.
My Leasing (Mauritius)
7,906,926 53,822,836 1,711,123 52,111,713 - (859) 11,713,580 41.01
Corp.
Chailease
International Finance 28,925,600 188,563,287 138,726,479 49,836,808 23,425,331 13,598,884 12,525,874 Note1
Corporation
Chailease
International Leasing 693,933 13,974,028 11,867,116 2,106,912 1,271,310 534,920 426,798 Note1
Company Limited
Golden Bridge (B.V.I.)
14,840,632 52,219,083 152,645 52,066,438 - (154,522) 11,559,074 22.84
Corp.
Chailease
2,345,760 17,650,378 13,382,022 4,268,356 2,049,592 1,329,453 1,052,390 Note1
International Corp.
Chailease Auto Rental
1,559,832 9,552,022 7,858,211 1,693,811 3,325,012 130,106 106,649 0.68
Co.,Ltd.
Chailease Credit
10,000 16,085 5,500 10,585 3,182 483 427 0.43
Services Co.,Ltd.
Chailease Insurance
8,000 99,250 16,798 82,452 171,564 82,671 66,200 82.75
Brokers Co., Ltd.
Chailease Finance
3,875,200 15,530,762 9,657,197 5,873,565 2,074,939 1,041,170 813,371 Note1
International Corp.
Jirong Real Estate Co.,
738,480 1,110,610 338,549 772,061 74,843 18,287 14,523 Note1
Ltd.
Chailease Cloud
25,000 78,635 56,389 22,246 1,767 1,200 1,211 0.48
Service Co., Ltd.
Chailease
International Financial 2,684,960 18,003,626 12,378,614 5,625,012 647,559 398,134 338,070 3.49
Services Co., Ltd.
Chailease
International Financial 277 578,008 454,284 123,724 249,490 63,383 65,712 6,571.19
Services (Liberia) Corp.
Yun Tang Inc. 500,691 1,978,478 1,418,489 559,989 169,194 67,318 41,638 Note1
Chailease
International 25,485,922 58,485,908 2,724,071 55,761,837 68,226 8,435 10,579,421 16.92
280
Net income EPS
tax) (NT$)
Chailease Berjaya

953,250 10,631,305 8,596,460 2,034,845 1,595,147 744,675 580,509 3.87
Credit Sdn. Bhd.
Chailease Energy
50,000 1,105,893 426,034 679,859 943,321 722,340 578,030 115.61
Chailease Power
770,000 2,069,603 1,276,799 792,804 80,271 36,102 20,653 0.27
Technology Co., Ltd.
Chailease
International Trading 133,004 882,947 634,320 248,627 94,761 66,666 56,436 Note1
Company Limited
Chailease
International Financial
830 1,407,933 1,399,201 8,732 10,901 7,453 7,329 244.31
Services (Labuan)
Corp.
Sing Chuang Limited
1,800,010 2,411,772 417,505 1,994,267 295,553 244,897 194,257 Note2
Partnership
Chuang Ju Limited
3,300,010 12,151,392 8,232,699 3,918,693 1,282,017 769,518 618,683 Note2
Partnership
Chailease Agency Sdn.
636 9,431 179 9,252 9,858 6,161 5,015 50.15
Bhd.
Chailease Royal
138,400 1,680,778 1,235,495 445,283 354,743 132,737 104,038 20.81
Leasing Plc.
SK Insurance Broker
8,347 258,429 181,892 76,537 383,489 121,885 97,448 97.45
Co., Ltd.
Chailease Berjaya
347,945 618,923 416,251 202,672 123,785 18,001 28,175 0.04
Finance Corp.
Chailease Royal
429,594 2,825,329 2,291,656 533,673 525,587 119,166 94,040 6.06
Finance Plc.
Chailease
International
473,328 445,326 2,534 442,792 - (878) (34,245) (2.66)
Company (Hong Kong)
Limited
Chailease Services
636 2,377 (1) 2,378 1,826 347 305 3.05
Sdn. Bhd.
PT. Chailease
25,740 21,607 21,284 323 - (20,492) (19,164) (0.02)
Indonesia Finance
Chailease
International Financial
3,017,120 32,709,020 28,809,585 3,899,435 1,313,131 833,404 673,518 6.18
Services (Singapore)
Pte. Ltd.
Chung Cheng Energy
303,400 326,895 23,463 303,432 2,121 300 284 0.01
Ho Lien Energy
3,460,588 3,451,955 70 3,451,885 - (1,070) (8,733) (0.03)
Chailease
Management 1,775 2,076 340 1,736 - (675) (721) (1.44)
Consulting Co. Limited
Chailease
International Fortune 277 239,708 228,677 11,031 38,833 9,051 9,070 906.99
Corp. (Liberia)
Chailease Capital
108,511 168,315 52,346 115,969 - (2,283) 14,022 0.35
Chailease
International
217,200 224,784 1,594 223,190 1,591 1,505 3,785 Note 1
Commercial Factoring
Corporation
Jon Ruei Finance
- - - - - - - Note4
Corporation
Tai Yuan Energy
1,170,050 1,165,944 428 1,165,516 - (3,597) (3,460) (0.03)
Chung Wei Energy
500 388 50 338 - (85) (85) (1.70)
Chung Yu Energy
500 388 50 338 - (85) (85) (1.70)
281
Net income EPS
tax) (NT$)
Tung Yu Energy
2,282,208 2,281,180 50 2,281,130 - (709) (1,000) (0.00)
TUNG FENG INC. 34,010 33,768 50 33,718 - (86) (69) Note 1
Chung Yen Energy
775,400 835,290 56,645 778,645 16,436 4,891 3,680 0.05
Chung Ho Energy
2,792,124 2,791,317 39,715 2,751,602 - (464) (40,027) (0.14)
He To Energy
500 388 50 338 - (85) (85) (1.70)
Tung Ching Inc. 201,000 199,977 128 199,849 - (263) (364) Note 1
Tien Sin Intelligent
680,000 864,672 186,048 678,624 - (789) (1,309) (0.02)
Green Energy Co., Ltd.
Tien Jen Energy Co.,
680,000 679,240 65 679,175 - (684) (762) (0.01)
Ltd.
Tien Chu Energy Co.,
680,000 744,536 66,934 677,602 - (924) (1,890) (0.03)
Ltd.
Tien Ying Energy Co.,
1,280,000 1,668,165 392,416 1,275,749 - (1,314) (3,740) (0.03)
Ltd.
Tien Jui Energy Co.,
680,000 677,376 129 677,247 - (627) (2,689) (0.04)
Ltd.
Chung Ming Co., Ltd. 300,050 299,942 50 299,892 - (166) (158) (0.01)
Chung Yao Co., Ltd. 20,050 20,004 50 19,954 - (97) (96) (0.05)
Ho Hsuan Co., Ltd. 1,253,120 1,253,097 66 1,253,031 - (89) (89) (0.00)
Yao Jih Co., Ltd. 50 28 66 (38) - (88) (88) (17.60)
Hsia Ching Co., Ltd. 50 5 66 (61) - (111) (111) (22.20)
Tien Hsing Integration
1,000 1,924,414 1,964,392 (39,978) - (141) (40,788) (407.88)
Co., Ltd.
Chu Chiang Solar
45,050 75,992 31,246 44,746 - (410) (604) Note 1
Energy Inc.
Chailease Royal
4,152 3,658 1,637 2,021 - (2,165) (2,155) (14.37)
Insurance Broker Plc.
Chailease Commercial
217,200 217,310 68 217,242 - (54) 42 Note 1
Factoring Corporation
PT. Chailease Finance
495,000 523,413 51,839 471,574 10 (24,364) (24,544) (0.02)
Indonesia
Chailease Bright Co.,
277 625,547 629,162 (3,615) 19,621 (3,948) (3,936) (393.65)
Ltd.
Chailease Cherish Co.,
277 240 40 201 - - (77) (7.68)
Ltd.
Chailease Faith Co.,
- - - - - - - Note 4
Ltd.
Chailease Harmony
- - - - - - - Note 4
Co., Ltd.
Chailease Virtue Co.,
277 682,813 676,660 6,153 37,835 5,942 5,943 594.33
Ltd.
Chailease Blossom Co.,
- - - - - - - Note 4
Ltd.
Chailease Glory Co.,
- - - - - - - Note 4
Ltd.
Chailease
International Maritime - - - - - - - Note 4
Holding Co., Ltd
Note 1: It is a limited company without issuing stocks.
Note 2 It is a limited partnership without issuing stocks.
Note 3: Chailease Finance (B.V.I.) Company Ltd. has reduced its capital and returned its entire all shares on December 27, 2021, with the liquidation process still in progress.
Note4: The initial equity capital has not been injected.
282
2. Private Placement Securities in 2020 and as of the Date of this Annual Report:
None.

3. The Company’s Shares Held or Disposed by Subsidiaries in Recent Years until
the Annual Report being Published: None.
4. Statement of Company Operating Procedures for Handling Internal Material

Information:
The Company formulated and approved “Guidelines Governing the Handling of Internal Material Information and
Prevention against Insider Trading” in March, 2011, in order to establish solid mechanisms relating to the handling
and disclosure of internal material information by the Company so as to prevent improper disclosure of information,
ensure the consistency and accuracy of information released by the Company to the public, and enhance the
prevention against insider trading. This Guideline has been promulgated to all employees, officers, and Directors.
The relevant divisions in charge shall provide training to Directors, officers, other newly-appointed insiders and
employees. Furthermore, relevant provisions in relation to prohibiting insider trading have also been stipulated in
contracts entered into between the Company and its major strategic partners.
In February 2018, the Company also established and approved the “Chailease Holdings Information Announcement
and Application Procedures” to ensure the timeliness and correctness of the Company’s disclosure of information to
enhance the transparency of the Company’s information.
IX. Pursuant to the Article 36-3-2 of Security

Exchange Act, Event Having Material Impact on
Shareholder’s Equity or Share Price in the Latest
Year until the Annual Report being Published:
None
283
IX. Major differences in the Company’s articles of
association and ROC regulations on shareholders’
equity protection.
Articles of Influence on the rights of
The rights of shareholders Reasons
Association shareholders
1. Convention procedure and the method of adopting resolutions for the shareholders' meeting
1. The shareholders’ meetings shall be held in Article 43 in With respect to convening a special According to the description
Taiwan. For shareholders’ meetings to be the Articles of shareholder's meeting on his/their own, it is 2.(3) in Letter Tai-
held outside Taiwan, the shareholders shall Association was not necessary to obtain an approval from the ZhengShang
propose it for resolution in the Board meeting revised according competent authorities under the Company -Zi No. 0991701319 filed on
or report to TWSE for approval in 2 days to the rights of Law of Cayman Islands; therefore, the article is April 13, 2010 by TWSE, the
after the shareholders obtain an approval of shareholders not amended to "after obtaining an approval rights for the minority of
convention from the authorities. except that it is not from the competent authority. shareholder to request
2. Any or plural number of shareholder(s) of necessary to obtain for convening the special
a company who has (have) continuously an approval from shareholders' meeting shall
held three percent (3%) or more of the the competent be established in the Articles
total number of outstanding shares of the authorities before of Association for foreign-
company for a period of one year or longer the shareholders owned published companies
may, by filing a written proposal setting forth convene a special on the condition of no
therein the subjects for discussion and the shareholder’s violation
reasons, request the Board of Directors to meeting on his/ their of local regulations on the
convene a special shareholders’ meeting. If own as stated in the registered place. The part of
the Board of Directors fails to give a notice for left column. the approval for convention
convening a special shareholders’ meeting from the competent
within fifteen (15) days after the filing of the authorities could be deleted.
request under the preceding paragraph, the Therefore, this part of Articles
proposing shareholder(s) may, after obtaining has limited influence of the
an approval from the competent authority, rights of shareholders.
convene a special shareholders’ meeting on
his/their own.
If the proposal involves significant interest of Article 64 and 66(b) 1. As to the method of adopting resolutions Since the difference is
shareholders as below, in the case of a company in the Articles of in the shareholders’ meeting, the special generated from the laws
limited by shares: a resolution adopted, at a Association resolution (special resolution for the of Cayman Islands and the
shareholders’ meeting, by a majority of the with respect to the Laws of Cayman Islands hereinafter) is "Special Resolution"
shareholders present who represent two-thirds alteration of Articles established in Article 1 of the Articles of in rights of shareholders has
or more of the total number of its outstanding of Association in addition to the ordinary been listed in the "Special
shares. If the total number of shares represented Association and the resolutions and special(supermajority) Resolution for Cayman Laws
by the dissolution of the resolutions under the Laws of R.O.C. "or "Special Resolutions", the
shareholders present at shareholders’ meeting is Company. Resolution The Company Laws under Cayman Articles of Association should
not sufficient to meet the criteria specified in the threshold adopts the Islands define that the special resolution have limited influence on the
preceding paragraph, the resolution special resolution of refers to the adoption of a resolution rights of shareholders.
to be made thereto may be adopted by two- Cayman Islands. by at least two thirds of the votes of the
thirds or more of the attending shareholders shareholders present at a meeting of
who represent a majority of the total number of shareholders (including both personal
its outstanding shares: attendance and proxy attendance, if
1. Enter into, amending, or terminating any allowed) if the meeting notice has clear
contract for lease of the company’s business notes that the special resolution will be
in whole, or for entrusted business, or for adopted to make resolutions. However,
regular joint operation with others. the higher percentage of attendance
Transfer the whole or any essential part of its can be designated according to the
business or assets or accept the transfer of Articles of Association and the listed
another’s whole business or assets, which has matters applicable to special resolutions
great bearing on the business operation of can be passed at different percentages
the company. of attendance (but not lower than two
2. Alteration of the Articles of Corporation of the thirds). The difference between the
company. Articles of Association and the Rights of
3. Any modifications or alterations in the Articles Shareholders is that the matters of special
of Incorporation prejudicial to the privileges (supermajority) resolutions in the Rights
of special shareholders shall also be adopted of Shareholders shall be regulated by the
by a meeting of special shareholders. special (supermajority) resolution and
4. Having the whole or a part of the surplus the special resolution under the Laws of
profit distributable as dividends and bonuses Cayman Islands.
distributed in the form of new shares to be
issued by the company.
5. Resolution of dissolution, merger and split-
up.
6. Private placement of valuable securities.
284
2. Under the Laws of Cayman Islands,
alterations of the Articles of Association

shall be implemented in accordance with
the Special Resolution in the Laws of
Cayman Islands. Therefore, the resolution
threshold for alteration of Articles of
Association is not amended to the special
(supermajority) resolution in the Laws
of R.O.C. in accordance with the “Rights
of Shareholders”. (2) Dissolution shall
be implemented in compliance with
the Laws of Cayman Islands. According
to the Laws of Cayman, the Company
shall pass an Ordinary Resolution, if the
Company resolves that it be wound up
voluntarily because it is unable to pay its
debts as they fall due. The Company shall
abide by the special resolution under
Laws of Cayman Islands, if the Company
resolves that it be wound up voluntarily
for reasons other than the reason stated
above. Therefore, the resolution threshold
of voluntary dissolution for the reason
of unable to pay its debts has altered to
supermajority resolution in the Laws of
R.O.C. in accordance with the “Rights of
Shareholders” in Article 66(a). As to the
Article 66(b), the resolution threshold of
voluntary dissolution for reasons other
than the reason stated above, it shall abide
by the Special Resolution under the Laws
of Cayman Islands.
2. The rights and responsibilities of supervisors
1. Supervisors of a company shall be elected by There is no regulation Since there is no definition and regulation The rights of shareholders
the meeting of shareholders, among them related to supervisors of supervisors under the Laws of Cayman regulate that a company
at least one supervisor shall have a domicile in the Articles of Islands, the Articles of Association does not that has issued stock shall
within the territory of the Republic of China.
2. The term of office of a supervisor shall not Association. have regulations related to supervisors. establish either an audit
exceed three years, but he may be eligible for committee or a supervisor.
re-election. Under the Article 131 of
3. In case all supervisors of a company are Articles of Association, the
discharged, the Board of Directors shall,
Audit Committee which is
within 60 days, convene a special meeting of
shareholders to elect new supervisors. composed of all independent
4. Supervisors shall supervise the execution of Directors is established and
business operations of the company and may has equivalent authorities
at any time or from time to time investigate and functions to supervisors;
the business and financial conditions of the
company, examine the accounting books as a result, there should be
and documents, and request the Board of limited influence on the rights
Directors or managerial personnel to make of shareholders.
reports thereon.
285
5. Supervisors shall audit the various statements
and records prepared for submission to
the shareholders’ meeting by the Board of
Directors, and shall make a report of their
findings and opinions at the meeting of
shareholders.
6. The supervisors may appoint, on behalf
of the company, a practicing lawyer and a
certified public accountant to conduct the
examination.
7. Supervisors of a company may attend the
meeting of the Board of Directors to their
opinions. In case the Board of Directors or
any director commits any act, in carrying out
the business operations of the company, in a
manner in violation of the laws, regulations,
the Articles of Incorporation or the resolutions
of the shareholders’ meeting, the supervisors
shall forthwith advise, by a notice, to the
Board of Directors or the director, as the case
may be, to cease such act.
8. Supervisor may each exercise the supervision
power individually.
9. A supervisor shall not be concurrently a
director, a managerial officer or other staff/
employee of the company.
286
Headquarters/1-12F, No.362, Rueiguang Rd., Neihu
District, Taipei City 11492, Taiwan (R.O.C)
886-2-8752-6388

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2021 Annual

Chailease Holding Company Limited

12 III. Corporate Governance Report

76 IV. Capital and Shares

Taiwan (R.O.C.) Vietnam

■ Chailease Consumer Finance Co., Ltd.

■ Chailease International Corp.

2021 Business Report

Chailease Holding Company Limited

Responding to the Pandemic's Challenges

Sustainable Talent Development

Strengthening Consumer Financing

Chailease Holding Company Limited

Expanding Insurance Brokerage Business

Wishing you health and prosperity.

(1) Date of establishment:

(2) History of the Company:

Chailease Holding Company Limited

Corporate Governance and

Risk Management Management

President of Taiwan's President of Mainland China's Information Security

Finance Accounting Officer

Chief Strategy Officer

Internal Audit Officer

Think Tank Department

Chailease Holding Company Limited

1. Directors and supervisors:

Chailease Holding Company Limited

the company and/or in any other company

Position(s) held concurrently in

Experience and education

6. Chairman of Financial One Corp.

the company and/or in any other company

Position(s) held concurrently in

Experience and education

Industrial Research, Divisional Director.

6. Chairman of Chailease Royal Finance

Co., Ltd.) 3. Advisor of Matlin Patterson Global

the company and/or in any other company

Position(s) held concurrently in

Chailease Holding Company Limited

Experience and education

3. Executive consultant of Chailease

■ Bachelor of Commerce, Soochow

Chailease Holding Company Limited

1. Work experience in the area of commerce and -

1. Have the judgment in the area of commerce, Mr. Tsou is an independent -

Chailease Holding Company Limited

Position(s) held concurrently in any other company Position

Chailease Holding Company Limited

Position(s) held concurrently in any other company

Position(s) held concurrently in any other company Position

Position(s) held concurrently in any other company

37,405 0.02% 1,013 0.00% ─ ─

Chailease Holding Company Limited

Remuneration of reinvestment business

Companies in the consolidated financial

Companies in the consolidated financial