Q4 Financial Statements (Standalone)

GameSparcs Co., Ltd.
Parent Company Only Financial Statements for the Years Ended

December 31, 2022 and 2021 and Independent Auditors’ Report
(Stock Symbol: 6542)
Address: 2F.-3, No. 360, Jianxing Rd., North Dist., Taichung City
TEL: (04) 2236-0500
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Parent Company Only Financial Statements for the Years Ended December 31,
2022 and 2021 and Independent Auditors’ Report
Table of Contents
Item Page No
Cover 1
Table of contents 2
Independent auditor’s report 3~6
Parent Company Only Balance Sheets 7~8
Parent company only statement of comprehensive income 9
Parent company only statement of changes in equity 10
Parent company only statement of cash flows 11 ~ 12
Notes to the Parent Company Only Financial Statements 13 ~69
Schedules for significant accounting items 70 ~ 82
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INDEPENDENT AUDITOR’S REPORT
The Board of Directors and Shareholders

Audit Opinion
We have audited the Parent Company Only Financial Statements of GameSparcs Co., Ltd. (the
"Company") as of December 31, 2022 and 2021, and the Parent company only statements of
comprehensive income, changes in equity and cash flows for the years then ended, and the notes
to the Parent Company Only Financial Statements, including a summary of significant
accounting policies.
In our opinion, the Parent Company Only Financial Statements present fairly, in all material
respects, as of December 31, 2022 and 2021, and its individual financial performance and its
cash flows for the years then ended in accordance with the Regulations Governing the
Preparation of Financial Reports by Securities Issuers.
Basis for Opinion
We conducted our audits in accordance with the Regulations Governing Auditing and
Attestation of Financial Statements by Certified Public Accountants and 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 Parent Company Only
Financial Statements section of our report. We are independent of the Company in accordance
with The Norm of Professional Ethics for Certified Public Accountant of the Republic of China,
and we have fulfilled our other ethical responsibilities in accordance with these requirements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most
significance in our audit of the company’s financial statements for the year ended December
31, 2022. These matters were addressed in the context of our audit of the Company’s financial
statements as a whole, and in forming our opinion thereon, and we do not provide a separate
opinion on these matters.
Key audit matter for the Company's financial statements for the year ended December 31, 2022
is stated as follows:
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Revenue Recognition
Description
Refer to Note 4 (23), 5(2)A and 6(17) to the Parent Company Only Financial Statements.
The operating revenue of the Company mainly comes from the agency and online games
operation. The company's performance obligation is not fulfilled upon the sale of game points
after the players have stored the value, but is satisfied when the players use the game points in
the future. Therefore, management recognizes revenue from the sale of game points as a
contractual liability at the time of sale and allocates it as revenue over the estimated period of
the players' remaining games. Consequently, the revenue recognition is identified as a key audit
matter.
Audit procedures
The audit procedures performed as follows:
‧ Understanding and examining the online gaming revenue recognition process in order to
evaluate and test internal control over gaming revenue recognition.
‧ We sampled the reconciliation and collection between the company and the game platform.
‧ We sampled the accuracy of the remaining game period reports of players.
Emphasized matters - Restated the financial statements for the year ended December
31, 2021
The accountant had been issued an unqualified opinion on the Company in March 23, 2021.
As mentioned in note 4 (24), The Aqura Technology Co., Ltd. had been merged on December
31, 2022, which was restructuring in groups. In accordance with the regulations, the company
had been merged with the Aqura Technology Co., Ltd. and had to restate the Company’s
financial statements as of December 31, 2021. The Accountant had not modified the opinion of
the Company’s financial statements as of December 31, 2021.
Responsibilities of Management and Those Charged With Governance for the Parent
Company Only Financial Statements
Management is responsible for the preparation and fair presentation of the Parent Company
Only Financial Statements in accordance with the Regulations Governing the Preparation of
Financial Reports by Securities Issuers, and for such internal control as management determines
is necessary to enable the preparation of Parent Company Only Financial Statements that are
free from material misstatement, whether due to fraud or error.
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In preparing the Parent Company Only Financial Statements, management is responsible for
assessing the Company’s ability to continue as a going concern, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless
management either intends to liquidate the Company or to cease operations, or has no realistic
alternative but to do so.
Those charged with governance (including members of the Audit Committee) are responsible
for overseeing the Company’s financial reporting process.
Auditors’ Responsibilities for the Audit of Parent Company Only Financial Statements
Our objectives are to obtain reasonable assurance about whether the Parent Company Only
Financial Statements as a whole are free from material misstatement, whether due to fraud or
error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high
level of assurance, but is not a guarantee that an audit conducted in accordance with the 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 Parent Company Only Financial
Statements.
As part of an audit in accordance with the 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 parent company only financial
statements, whether due to fraud or error, design and perform audit procedures responsive
to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis
for our opinion. The risk of not detecting a material misstatement resulting from fraud is
higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control.
2. Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the Company’s internal control.
3. Evaluate the appropriateness of accounting policies used and the reasonableness of

accounting estimates and related disclosures made by management.
4. Conclude on the appropriateness of management’s use of the going concern basis of

accounting and, based on the audit evidence obtained, whether a material uncertainty exists
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related to events or conditions that may cast significant doubt on the Company’s ability to
continue as a going concern. If we conclude that a material uncertainty exists, we are
required to draw attention in our auditors’ report to the related disclosures in the parent
company only financial statements or, if such disclosures are inadequate, to modify our
opinion. Our conclusions are based on the audit evidence obtained up to the date of our
auditors’ report. However, future events or conditions may cause the Company to cease to
continue as a going concern.
5. Evaluate the overall presentation, structure and content of the Parent Company Only
Financial Statements, including the disclosures, and whether the Parent Company Only
Financial Statements represent the underlying transactions and events in a manner that
achieves fair presentation.
6. Obtain sufficient appropriate audit evidence regarding the financial information of the
entities or business activities within the Company to express an opinion on the Parent
Company Only Financial Statements. We are responsible for the direction, supervision and
performance of the group audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit and significant audit findings, including any significant
deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with
relevant ethical requirements regarding independence, and to communicate with them all
relationships and other matters that may reasonably be thought to bear on our independence,
and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those
matters that were of most significance in the audit of the Parent Company Only Financial
Statements for the year ended December 31, 2022 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.
Price waterhouse Coopers Taiwan

Lai, Tsung-Hsi
Liu, Mei-Lan
March 17, 2023
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Parent Company Only Balance Sheets
December 31, 2022 and 2021
(In Thousands of New Taiwan Dollars) (Adjusted)
December 31, 2022 December 31, 2021
Assets Notes Amount % Amount %
Current assets
1100 Cash and cash equivalents 6(1) $ 369,744 48 $ 249,169 34
1120 Financial assets at fair value through other comprehensive income - current 6(2) - - 77,504 11
1150 Net notes receivable - - 18,785 3
1170 Net accounts receivable 6(3) 37,518 5 31,718 4
1180 Accounts receivable - related parties 7 12,909 2 7,605 1
1210 Other accounts receivable－related parties 7 1,382 - 25,483 3
130X Inventories 2,412 - 926 -
1410 Advance payment 7 7,449 1 11,411 2
1470 Other Current assets 221 - 5,965 1
11XX Total of current assets 431,635 56 428,566 59
Non-current assets
1550 Investments accounted for using the equity method 6(4) 282,887 37 239,785 33
1600 Property, plant and equipment 6(5) 947 - 2,434 -
1755 Right-of-use assets 6(6).7 3,521 1 5,359 1
1780 Intangible assets 6(7) 55 - 191 -
1840 Deferred tax assets 6(23) 45,841 6 46,339 7
1900 Other non-current assets 1,988 - 2,000 -
15XX Total of non-current assets 335,239 44 296,108 41
1XXX Total of assets $ 766,874 100 $ 724,674 100
(Continued on next page)
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Parent Company Only Balance Sheets
December 31, 2022 and 2021
(In Thousands of New Taiwan Dollars) (Adjusted)
Liabilities and equity Notes Amount % Amount %
Current liabilities
2100 Short-term borrowing 6(9) $ - - $ 20,000 3
2130 Contract liabilities - current 6 (17) 2,577 - 2,789 -
2170 Accounts payable 2,104 - 2,279 -
2180 Accounts payable - related parties 7 120 - 385 -
2200 Other payables 6 (10) 55,853 7 50,346 7
2220 Other payables - related parties 7 14,716 2 21,520 3
2230 Current tax liabilities 18,907 3 8,968 1
2280 Lease liabilities - current 6 (26).7 1,889 - 1,848 -
2300 Other current liabilities 6 (11) 615 - 48,049 7
21XX Total of current liabilities 96,781 12 156,184 21
Non-current liabilities
2570 Deferred tax liabilities 6(23) 3,059 1 9,327 1
2580 Lease liabilities - non-current 6(26).7 1,733 - 3,621 1
25XX Total of non-current liabilities 4,792 1 12,948 2
2XXX Total of liabilities 101,573 13 169,132 23
Equity
Share capital 6 (13)
3110 Capital stock for ordinary shares 420,006 55 420,006 55
Capital reserves 6 (14)
3200 Capital reserves 303,947 40 303,947 42
Retained earnings 6 (15)
3310 Legal reserves 19,393 3 19,393 3
3320 Special capital reserves 10,270 1 10,270 1
3350 Unappropriated retained earnings (or losses to be made up) ( 84,602) ( 11) ( 221,122) ( 30)
Other equity 6 (16)
3400 Other equity ( 3,713) ( 1) 23,048 3
3XXX Prior party's equity under common control 665,301 87 555,542 77
Significant Subsequent Events 11
3X2X Total of equity $ 766,874 100 $ 724,674 100
The notes attached are part of the individual financial statements.
Chairperson：Ku, Kang-Wei Manager：Ku, Kang-Wei Accounting Manager：Su, Chien-Tung
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Parent Company Only Statement of Comprehensive Income
From January 1 to December 31, 2022 and 2021
(In Thousands of New Taiwan Dollars)
(Adjusted)
2022 2021
Item Note Amount % Amount %
4000 Operating revenue 6(17), 7 $ 366,630 100 $ 352,919 100
5000 Operating cost 7 ( 22,982) ( 6) ( 44,669) ( 12)
5900 Gross profit 343,648 94 308,250 88
Operating expense 6(21).(22).7
6100 Marketing expenses ( 68,883) ( 19) ( 170,252) ( 48)
6200 General and administrative expenses ( 43,919) ( 12) ( 37,876) ( 11)
6300 Research and development expenses ( 163,503) ( 45) ( 168,277) ( 48)
6450 Expected credit gains (losses) 12(2) 2,232 1 ( 7,945) ( 2)
6000 Operating expense ( 274,073) ( 75) ( 384,350) ( 109)
6900 Operating profit (loss) 69,575 19 ( 76,100) ( 21)
Non-operating revenue/expenses
7100 Interest income 6(18) 848 - 204 -
7010 Other income 6(19) 1,262 - 30,717 9
7020 Other gains and/or losses 6(20) 17,663 5 ( 88,793) ( 25)
7050 Financial costs 7 ( 125) - ( 179) -
7070 Share of profits of subsidiaries and associates 6(4) 32,086 9 ( 47,073) ( 14)
7000 Non-operating revenue/expenses 51,734 14 ( 105,124) ( 30)
7900 Loss or Profit before tax 121,309 33 ( 181,224) ( 51)
7950 Income tax expenses/benefit 6(23) ( 22,471) ( 6) 17,640 5
8200 Net (loss) income $ 98,838 27 ($ 163,584) ( 46)
Other comprehensive income
Items that will not be reclassified subsequently to profit or loss:
8316 Unrealized other comprehensive income in fair value 6(2) $ - - $ 46,635 13
8349 Income tax related to non-reclassified components 6(23) ( 95) - ( 9,327) ( 3)
Items that may be reclassified subsequently to profit or loss:
8361 Exchange differences on translation of foreign financial statements 11,016 3 ( 3,991) ( 1)
8300 Other comprehensive income/loss (net value) $ 10,921 3 ($ 33,317 9
8500 Comprehensive gain/loss $ 109,759 30 ($ 130,267) ( 37)
EARNINGS (LOSSES) PER SHARE 6(24)
9750 Basic $ 2.35 ($ 3.89)
9850 Diluted $ 2.35 ($ 3.89)
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Parent company only statement of Changes in Equity
RETAINED EARNINGS
CAPITAL SURPLUS (ACCUMULATED DEFICIT) OTHER EQUITY ITEMS
Changes in
Unrealized gain/(loss)
equity of Exchange on investments in
investment differences on equity instruments at
Capital stock accounted for translation of fair value through
for ordinary Share using equity Legal Special accumulated foreign financial other comprehensive
Note shares premium method reserve reserve deficit statements income Total
2021(Adjusted)
Balance on January 1, 2021 $ 420,006 $ 280,910 $ 6,703 $ 19,393 $ 16,168 ( $ 63,436 ) ( $ 10,738) $ 469 $ 669,475
Net loss in 2021 - - - - - ( 163,584 ) - - ( 163,584)
Other comprehensive income (loss) 6(16) - - - - - - ( 3,991) 37,308 33,317
Total comprehensive income (loss) - - - - - ( 163,584 ) ( 3,991) 37,308 ( 130,267))
Appropriation surplus for 2020 6(15)
Reversal of the special surplus
reserve - - - -( 5,898) 5,898 - - -
Tax effect of restructuring 6(4) - 10,332 - - - - - - 10,332
Difference between consideration 6(4)
and carrying amount of
subsidiaries acquired - - 6,002 - - - - - 6,002
Balance on December 31, 2021 $ 420,006 $ 291,242 $ 12,705 $ 19,393 $ 10,270 ( $ 221,122 ) ( $ 14,729) $ 37,777 $ 555,542
2022
Balance on January 1, 2022 $ 420,006 $ 291,242 $ 12,705 $ 19,393 $ 10,270 ( $ 221,122 ) ( $ 14,729) $ 37,777 $ 555,542
Net income in 2022 - - - - - 98,838 - - 98,838
Other comprehensive income 6(16) - - - - - - 11,016 ( 95) 10,921
Total comprehensive income - - - - - 98,838 11,016 ( 95) 109,759
Disposal of investments in equity 6(2)
instruments at fair value through
other comprehensive income - - - - - 37,682 - ( 37,682) -
Balance on December 31, 2022 $ 420,006 $ 291,242 $ 12,705 $ 19,393 $ 10,270 ( $ 84,602 ) ( $ 3,713) $ - $ 665,301

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Parent company only statement of Cash Flows
Note 2022 2021(Adjusted)

NET CASH FLOW FROM OPERATING ACTIVITIES
Income/loss before income tax $ 121,309 ( $ 181,224 )
Items of adjustment
Income, expenses and losses
Expected credit (gain) loss 12(2) ( 2,232 ) 7,945
Depreciation expense - Property, plant and equipment 6(5)(21) 1,487 1,539
Depreciation expense -Right-of-use assets 6(6)(21) 1,838 1,602
Amortization expense 6(7)(21) 136 457
Interest income 6(18) ( 848 ) ( 204 )
Dividend income 6(3) (19) - ( 28,148 )
Financial costs 125 179
Share of profits/loss of subsidiaries and associates 6(4) ( 32,086 ) 47,073
Impairment loss on non-financial assets 6(8) - 84,415
(Gain)/ loss of unrealized foreign currency exchange ( 15,344 ) 1,002
Change in assets/liabilities related to operating activities
Net change in assets related to operating activities
Notes receivable 18,785 ( 2,673 )
Accounts receivable ( 3,568 ) 6,239
Accounts receivable-related parties ( 5,304 ) ( 7,605 )
Inventories ( 1,486 ) 926
Other receivable - 189
Other receivable-related parties ( 766 ) ( 616 )
Advance payment 3,962 ( 4,905 )
Other current assets 35 ( 205 )
Net change in liabilities related to operating activities
Contract liabilities- current ( 212 ) 1,124
Accounts payable ( 175 ) ( 122 )
Accounts payable-related parties ( 265 ) -
Other payables 5,507 27,906
Other payables-related parties ( 6,804 ) 7,896
Other current liabilities ( 47,434 ) ( 43,326 )
Cash generated from operations 36,660 ( 80,536 )
Interests received 848 204
Interests paid ( 125 ) ( 179 )
Income tax received 5,743 -
Income tax paid ( 18,431 ) ( 16,126 )
Net cash inflow (outflow) from operating 24,695 ( 96,637 )
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Parent company only statement of Cash Flows
Note 2022 2021(Adjusted)

NET CASH FLOW IN INVESTING ACTIVITIES
Decrease in other receivable-related parties
$ 24,867 $ 31,841
Dividends received 6(2)(19)
- 28,148
Acquisition cost of investment in accounted for using equity method 6(4)
- ( 12,484 )
Acquisition of property, plant and equipment 6(5)
- ( 284 )
Acquisition of intangible assets 6(7)
- ( 218 )
Decrease(increase) in refundable deposits
12 ( 2)
Disposal of financial assets measured at fair value through other 6(25)
comprehensive income 77,504 13,125
Cash flow of investment activities (inflow)
102,383 60,126
CASH FLOWS IN FUNDRAISING ACTIVITIES

Increase of short-term loans 6(26)
- 20,000
Decrease of short-term borrowing 6(26)
( 20,000 ) -
Repayment of the principal portion of lease liabilities 6(26)
( 1,847 ) ( 1,579 )
Net cash (outflow) inflow in financing activities
( 21,847 ) 18,421
Effect of changes in foreign exchange rates
15,344 ( 666 )
Increase (decrease) of cash and cash equivalents
120,575 ( 18,756 )
Cash and cash equivalents, beginning of year
249,169 267,925
Cash and cash equivalents, end of year
$ 369,744 $ 249,169
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Notes to the Parent Company Only Financial Statements for fiscal year 2022 and fiscal year
2021(Adjusted)
(Amounts in Thousands of New Taiwan Dollars, Unless Specified Otherwise)
1. History and Organization
GameSparcs Co., Ltd. (“the Company”) was incorporated as a company limited by shares under
the provisions of the Company Act of the Republic of China (R.O.C.). On September 8, 2016,
the Company’s shares were listed on the Taipei Exchange. The main activities of the Company
are gaming agency, operation and general advertising and gaming peripheral products.
Based on the consolidation of resources to improve operating performance and competitiveness,

the Company merged Game Dreamer Inc.、Oh Yeah Digital Co Ltd., and Aqura Technology
Co., Ltd. as of January 1, 2017、September 22, 2021 and December 31, 2022 respectively, and
the Company was the surviving corporation after these restructuring above, otherwise, Game
Dreamer Inc.、Oh Yeah Digital Co Ltd. and Aqura Technology Co., Ltd. were the merged
companies.
2. The date of authorization for issuance of the financial statements and procedures for
authorization
The individual financial reports were approved and announced by Board of Directors on March
17, 2023.
3. Applicability of newly issued& modified standards and interpretation
(1) Effect of the adoption of new issuances of or amendments to International Financial

Reporting Standards (“IFRS”) that came into effect as endorsed by the Financial
Supervisory Commission (“FSC”)
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New standards, interpretations and amendments endorsed by FSC and became effective from
2022 are as follows:
New Standards, Interpretations And Amendments Effective Date By IASB

‧ Amendments to IFRS 3, ‘Reference to the conceptual January 1, 2022
framework’
‧ Amendments to IAS 16, ‘Property, plant and equipment: January 1, 2022

proceeds before intended use’
‧ Amendments to IAS 37, ‘Onerous contracts—cost of January 1, 2022

fulfilling a contract’
‧ Annual improvements to IFRS Standards 2018–2020 January 1, 2022
Except for the following, the above standards and interpretations have no significant impact to
the Company’s financial condition and financial performance based on the Company’s
assessment.
(2) Effect of new issuances of or amendments to IFRSs as endorsed by the FSC but not yet
adopted by the Group
New standards, interpretations and amendments endorsed by the FSC effective from 2023 are as
follows:

‧ Amendments to IAS 1, ‘Disclosure of accounting policies’ January 1, 2023
‧ Amendments to IAS 8, ‘Definition of accounting estimates’ January 1, 2023
‧ Amendments to IAS 12, ‘Deferred tax related to assets and January 1, 2023
liabilities arising from a single transaction’
assessment.
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(3) IFRSs issued by IASB but not yet endorsed by the FSC
New standards, interpretations and amendments issued by International Accounting Standards

Board (“IASB”) but not yet included in the IFRSs as endorsed by the FSC are as follows:

‧ Amendments to IFRS 10 and IAS 28, ‘Sale or To be determined by IAS
contribution of assets between an investor and its
associate or joint venture’
‧ Amendments to IFRS 16, ‘Lease liability in a sale and January 1, 2024

leaseback’
‧ IFRS 17, ‘Insurance contracts’ January 1, 2023
‧ Amendments to IFRS 17, 'Insurance contracts' January 1, 2023
‧ Amendment to IFRS 17, 'Initial application of IFRS 17 January 1, 2023

and IFRS 9 comparative information'
‧ Amendments to IAS 1, ‘Classification of liabilities as January 1, 2024

current or non-current’
‧ Amendments to IAS 1, ‘Non-current liabilities with January 1, 2024

covenants’
assessment.
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4. Summary of Significant Accounting Policies
The principal accounting policies applied in the preparation of these Parent Company Only
Financial Statements are set out below. These policies have been consistently applied to all the
periods presented, unless otherwise stated.
(1) Compliance statement
The Parent Company Only Financial Statements of the Company have been prepared in
accordance with the “Regulations Governing the Preparation of Financial Reports by Securities
Issuers”.
(2) Basis of preparation
A. The Parent Company Only Financial Statements have been prepared on the historical cost
basis except other comprehensive income measured by fair value financial assets.
B. The preparation of financial statements in conformity with International Financial Reporting
Standards, International Accounting Standards, IFRIC Interpretations, and SIC
Interpretations as endorsed by the FSC (collectively referred herein as the “IFRSs”)
requires the use of certain critical accounting estimates. It also requires management to
exercise its judgement in the process of applying the Company’s accounting policies. The
areas involving a higher degree of judgement or complexity, or areas where assumptions and
estimates are significant to the consolidated financial statements are disclosed in Note 5.
(3) Foreign currency translation
Items included in the Parent Company Only Financial Statements of the Company’s entities are
measured using the currency of the primary economic environment in which the entity operates
(the “functional currency”). The Parent Company Only Financial Statements are presented in
New Taiwan Dollars, which is the Company’s functional and presentation currency.
A. Foreign currency transactions and balances
(a) Foreign currency transactions are translated into the functional currency using the exchange
rates prevailing at the dates of the transactions or valuation where items are re-measured.
Foreign exchange gains and losses resulting from the settlement of such transactions are
recognized in profit or loss in the period in which they arise.
(b) Monetary assets and liabilities denominated in foreign currencies at the period end are
retranslated at the exchange rates prevailing at the balance sheet date. Exchange differences
arising upon re-translation at the balance sheet date are recognized in profit or loss.
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(c) Non-monetary assets and liabilities denominated in foreign currencies held at fair value
through profit or loss are re-translated at the exchange rates prevailing at the balance sheet
date; their translation differences are recognized in profit or loss. Non-monetary assets and
liabilities denominated in foreign currencies held at fair value through other comprehensive
income are re-translated at the exchange rates prevailing at the balance sheet date; their
translation differences are recognized in other comprehensive income. However,
nonmonetary assets and liabilities denominated in foreign currencies that are not measured
at fair value are translated using the historical exchange rates at the dates of the initial
transactions.
(d) All other foreign exchange gains and losses based on the nature of those transactions are
presented in the statement of comprehensive income within other gains and losses.
B. Translation of foreign operations
(a) The operating results and financial position of all the Company’s associates and joint
arrangements that have a functional currency different from the presentation currency are
translated into the presentation currency as follows:
i. Assets and liabilities for each balance sheet presented are translated at the closing
exchange rate at the date of that balance sheet;
ii. Income and expenses for each statement of comprehensive income are translated at
average exchange rates of that period; and
iii. All resulting exchange differences are recognized in other comprehensive income.
(b) When the foreign operation partially disposed of or sold is an associate or joint arrangement,
exchange differences that were recorded in other comprehensive income are proportionately
reclassified to profit or loss as part of the gain or loss on sale. In addition, even when the
Company retains partial interest in the former foreign associate or joint arrangement after
losing significant influence over the former foreign associate, or losing joint control of the
former joint arrangement, such transactions should be accounted for as disposal of all interest
in these foreign operations.
(c) When the foreign operation partially disposed of or sold is a subsidiary, cumulative exchange
differences that were recorded in other comprehensive income are proportionately
transferred to the non-controlling interest in this foreign operation. In addition, even when
the Company retains partial interest in the former foreign subsidiary after losing control of
the former foreign subsidiary, such transactions should be accounted for as disposal of all
interest in the foreign operation.
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(d) Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated
as assets and liabilities of the foreign entity and translated at the closing exchange rates at
the balance sheet date.
(4) Classification of current and non-current items
A. Assets that meet one of the following criteria are classified as current assets; otherwise they
are classified as non-current assets:
(a) Assets arising from operating activities that are expected to be realized, or are intended to be
sold or consumed within the normal operating cycle;
(b) Assets held mainly for trading purposes;
(c) Assets that are expected to be realized within twelve months from the balance sheet date;
(d) Cash and cash equivalents, excluding restricted cash and cash equivalents and those that are
to be exchanged or used to pay off liabilities more than twelve months after the balance sheet
date.
B. Liabilities that meet one of the following criteria are classified as current liabilities; otherwise
they are classified as non-current liabilities:
(a) Liabilities that are expected to be paid off within the normal operating cycle;
(b) Liabilities arising mainly from trading activities;
(c) Liabilities that are to be paid off within twelve months from the balance sheet date;
(d) Liabilities for which the repayment date cannot be extended unconditionally to more than
twelve months after the balance sheet date. Terms of a liability that could, at the option of
the counterparty, result in its settlement by the issue of equity instruments do not affect its
classification.
(5) Cash equivalents
Cash equivalents refer to short-term, highly liquid investments that are readily convertible to
known amounts of cash and which are subject to an insignificant risk of changes in value. Time
deposits that meet the definition above and are held for the purpose of meeting short-term cash
commitments in operations are classified as cash equivalents.
(6) Accounts and notes receivable
A. Accounts and notes receivable entitle the Company a legal right to receive consideration in
exchange for transferred goods or rendered services.
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B. The short-term accounts and notes receivable without bearing interest are subsequently
measured at initial invoice amount as the effect of discounting is immaterial.
(7) Impairment of financial assets
At each reporting date, for accounts receivable, the Company recognizes the impairment
provision for 12 months expected credit losses if there has not been a significant increase in
credit risk since initial recognition or recognizes the impairment provision for the lifetime
expected credit losses (ECLs) if such credit risk has increased since initial recognition after
taking into consideration all reasonable and verifiable information that includes forecasts.
On the other hand, for accounts receivable that do not contain a significant financing
component, the Company recognizes the impairment provision for lifetime ECLs.
(8) Derecognition of financial assets
The Company derecognizes a financial asset when the contractual rights to receive the cash
flows from the financial asset expire.
(9) Inventories
Inventories are stated at the lower of cost and net realizable value .Cost is determined using
the weighted-average method. The item by item approach is used in applying the lower of
cost and net realizable value. Net realizable value is the estimated selling price in the
ordinary course of business, less the estimated costs of completion and the estimated costs
necessary to make the sale.
(10) Investments accounted for using equity method / subsidiaries or associates
A. A subsidiary means an entity (including a structured entity) controlled by the Company when
the Company is exposed to, or has rights to, variable reward from participation in such entity
and has the ability to influence such reward through power over such entity.
B. Unrealized profits or losses arising from transactions between the Company and its
subsidiaries have been write off. The accounting policies of the subsidiaries have been
adjusted as necessary to be consistent with the policies adopted by the Company.
C. The Company recognizes its share of profit or loss after the acquisition of a subsidiary as
profit or loss for the current period and its share of other comprehensive income as other
comprehensive income after it is acquired. If the Company’s share of the loss recognized in
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a subsidiary equals or exceeds its interest in the subsidiary, the Company continues to
recognize a loss based on its proportionate share of the subsidiary.
D. Associates are all entities over which the Company has significant influence but not control.
In general, it is presumed that the investor has significant influence, if an investor holds,
directly or indirectly 20 percent or more of the voting power of the investee. Investments in
associates are accounted for using the equity method and are initially recognized at cost.
E. The Company’s share of its associates’ post-acquisition profits or losses is recognized in

profit or loss, and its share of post-acquisition movements in other comprehensive income is
recognized in other comprehensive income.
F. When changes in an associate’s equity do not arise from profit or loss or other comprehensive
income of the associate and such changes do not affect the Company’s ownership percentage
of the associate, the Company recognizes change in ownership interests in the associate in
‘capital surplus’ in proportion to its ownership.
G. Unrealized gains on transactions between the Company and its associates are eliminated to
the extent of the Company’s interest in the associates. Unrealized losses are also eliminated
unless the transaction provides evidence of an impairment of the asset transferred.
Accounting policies of associates have been adjusted where necessary to ensure consistency
with the policies adopted by the Company.
H. In the case that an associate issues new shares and the Company does not subscribe or acquire
new shares proportionately, which results in a change in the Company’s ownership
percentage of the associate but maintains significant influence on the associate, then ‘capital
surplus’ and‘investments accounted for under the equity method’ shall be adjusted for the
increase or decrease of its share of equity interest. If the above condition causes a decrease
in the Company’s ownership percentage of the associate, in addition to the above adjustment,
the amounts previously recognized in other comprehensive income in relation to the associate
are reclassified to profit or loss proportionately on the same basis as would be required if the
relevant assets or liabilities were disposed of.
I. Upon loss of significant influence over an associate, the Company re-measures any
investment retained in the former associate at its fair value. Any difference between fair value
and carrying amount is recognized in profit or loss.
J. When the Company disposes its investment in an associate and loses significant influence
over this associate, the amounts previously recognized in other comprehensive income in
relation to the associate, are reclassified to profit or loss, on the same basis as would be
required if the relevant assets or liabilities were disposed of. If it retains significant influence
20
over this associate, the amounts previously recognized in other comprehensive income in
relation to the associate are reclassified to profit or loss proportionately in accordance with
the aforementioned approach.
K. When the Company disposes its investment in an associate and loses significant influence
over this associate, the amounts previously recognized as capital surplus in relation to the
associate are transferred to profit or loss. If it retains significant influence over this associate,
the amounts previously recognized as capital surplus in relation to the associate are
transferred to profit or loss proportionately.
(11) Property, plant and equipment
A. Property, plant and equipment are initially recorded at cost. Borrowing costs incurred during
the construction period are capitalized.
B. Land is not depreciated. Other property, plant and equipment apply cost model and are
depreciated using the straight-line method to allocate their cost over their estimated useful
lives. Each part of an item of property, plant, and equipment with a cost that is significant in
relation to the total cost of the item must be depreciated separately.
C. The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted
if appropriate, at each financial year-end. If expectations for the assets’ residual values and
useful lives differ from previous estimates or the patterns of consumption of the assets’ future
economic benefits embodied in the assets have changed significantly, any change is
accounted for as a change in estimate under IAS 8, ‘Accounting Policies, Changes in
Accounting Estimates and Errors’, from the date of the change.
The estimated useful lives of property, plant and equipment are as follows:
Office equipment: 3~4 years

Other equipment : 3~4 years
(12) Leasing arrangements (lessee)－right-of-use assets/ lease liabilities
A. Leases are recognized as a right-of-use asset and a corresponding lease liability at the date at
which the leased asset is available for use by the Company. For short-term leases or leases
of low-value assets, lease payments are recognized as an expense on a straight-line basis over
the lease term.
B. Lease liabilities include the net present value of the remaining lease payments at the
commencement date, discounted using the incremental borrowing interest rate. Lease
21
payments are comprised of the following: Fixed payments, less any lease incentives
receivable. The Company subsequently measures the lease liability at amortized cost using
the interest method and recognizes interest expense over the lease term. The lease liability is
re-measured and the amount of re-measurement is recognized as an adjustment to the right-
of-use asset when there are changes in the lease term or lease payments and such changes do
not arise from contract modifications.
C. At the commencement date, the right-of-use asset is stated at cost comprising the following:
(a) The amount of the initial measurement of lease liability;

(b) Any lease payments made at or before the commencement date;
(c) Any initial direct costs incurred by the lessee.
The right-of-use asset is measured subsequently using the cost model and is depreciated from
the commencement date to the earlier of the end of the asset’s useful life or the end of the
lease term. When the lease liability is re-measured, the amount of re-measurement is
recognized as an adjustment to the right-of-use asset.
(13) Intangible assets
A. Goodwill arises in a business combination accounted for by applying the acquisition method.
B. Royalties are stated at cost and amortized on a straight-line basis over the estimated useful
life of one year for online game software and copyright licenses, etc.
C. Computer software is stated at cost and amortized on a straight-line basis over its estimated
useful life of 1to 2 years.
(14) Impairment of non-financial assets
A. The Company assesses at each balance sheet date the recoverable amounts of those assets
where there is an indication that they are impaired. An impairment loss is recognized for the
amount by which the asset’s carrying amount exceeds its recoverable amount. The
recoverable amount is the higher of an asset’s fair value less costs to sell or value in use.
Except for goodwill, when the circumstances or reasons for recognizing impairment loss for
an asset in prior years no longer exist or diminish, the impairment loss is reversed. The
increased carrying amount due to reversal should not be more than what the depreciated or
amortized historical cost would have been if the impairment had not been recognized.
B. The recoverable amounts of goodwill, intangible assets with an indefinite useful life and
intangible assets that have not yet been available for use are evaluated periodically. An
22
impairment loss is recognized for the amount by which the asset’s carrying amount exceeds
its recoverable amount. Impairment loss of goodwill previously recognized in profit or loss
shall not be reversed in the following years.
C. For the purpose of impairment testing, goodwill acquired in a business combination is

allocated to each of the cash-generating units, or groups of cash-generating units, that is/are
expected to benefit from the synergies of the business combination. Each unit or group of
units to which the goodwill is allocated represents the lowest level within the entity at which
the goodwill is monitored for internal management purposes. Goodwill is monitored at the
operating segment level.
(15) Borrowings
Borrowings comprise short-term bank borrowings. Borrowings are recognized initially at

fair value, net of transaction costs incurred. Borrowings are subsequently stated at
amortized cost; any difference between the proceeds (net of transaction costs) and the
redemption value is recognized in profit or loss over the period of the borrowings using
the effective interest method.
(16) Accounts payable
A. Accounts payable are liabilities for purchases of services.
B. The short-term notes and accounts payable without bearing interest are subsequently
measured at initial invoice amount as the effect of discounting is immaterial.
(17) Derecognition of financial liabilities
A financial liability is derecognized when the obligation specified in the contract is either
discharged or cancelled or expires.
(18) Offsetting financial instruments
Financial assets and liabilities are offset and reported in the net amount in the balance sheet
when there is a legally enforceable right to offset the recognized amounts and there is an
intention to settle on a net basis or realize the asset and settle the liability simultaneously.
(19) Employee benefits
A. Short-term employee benefits
23
Short-term employee benefits are measured at the undiscounted amount of the benefits
expected to be paid in respect of service rendered by employees in a period and should be
recognized as expense in that period when the employees render service.
B. Defined contribution plans
For defined contribution plans, the contributions are recognized as pension expense when
they are due on an accrual basis.
C. Termination benefits
Termination benefits are employee benefits provided in exchange for the termination of
employment as a result from either the Company’s decision to terminate an employee’s
employment before the normal retirement date, or an employee’s decision to accept an
offer of redundancy benefits in exchange for the termination of employment. The
Company recognizes expense as it can no longer withdraw an offer of termination benefits
or it recognizes relating restructuring costs, whichever is earlier. Benefits that are expected
to be due more than 12 months after balance sheet date shall be discounted to their present
value.
D. Employees’ compensation and directors’ and supervisors’ remuneration
Employees’ compensation and directors’ and supervisors’ remuneration are recognized as

expense and liability, provided that such recognition is required under legal or constructive
obligation and those amounts can be reliably estimated. Any difference between the
resolved amounts and the subsequently actual distributed amounts is accounted for as
changes in estimates. If employee compensation is paid by shares, the Company calculates
the number of shares based on the closing price at the previous day of the board meeting
resolution.
(20) Income tax
A. The tax expense for the period comprises current and deferred tax. Tax is recognized in
profit or loss, except to the extent that it relates to items recognized in other
comprehensive income or items recognized directly in equity, in which cases the tax is
recognized in other comprehensive income or equity.
B. The current income tax expense is calculated on the basis of the tax laws enacted or
substantively enacted at the balance sheet date in the countries where the Company and
its subsidiaries operate and generate taxable income. Management periodically
24
evaluates positions taken in tax returns with respect to situations in accordance with
applicable tax regulations. It establishes provisions where appropriate based on the
amounts expected to be paid to the tax authorities. An additional tax is levied on the
unappropriated retained earnings and is recorded as income tax expense in the year the
stockholders resolve to retain the earnings.
C. Deferred tax is recognized, using the balance sheet liability method, on temporary
differences arising between the tax bases of assets and liabilities and their carrying
amounts in the consolidated balance sheet. However, the deferred tax is not accounted
for if it arises from initial recognition of goodwill or of an asset or liability in a
transaction other than a business combination that at the time of the transaction affects
neither accounting nor taxable profit or loss. Deferred tax is provided on temporary
differences arising on investments in subsidiaries and associates except where the
timing of the reversal of the temporary difference is controlled by the Group and it is
probable that the temporary difference will not reverse in the foreseeable future.
Deferred tax is determined using tax rates (and laws) that have been enacted or
substantially enacted by the balance sheet date and are expected to apply when the
related deferred tax asset is realized or the deferred tax liability is settled.
D. Deferred tax assets are recognized only to the extent that it is probable that future
taxable profit will be available against which the temporary differences can be utilized.
At each balance sheet date, unrecognized and recognized deferred tax assets are
reassessed.
(21) Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue
of new shares or stock options are shown in equity as a deduction, net of tax, from the
proceeds.
(22) Dividends
Cash dividends are recorded as liabilities in the Company’s financial statements in the
period in which they are resolved by the Company’s Board of Directors. Stock dividends
are recorded as stock dividends to be distributed in the Company’s financial statements in
the period in which they are resolved by the Company’s stockholders and are reclassified
to ordinary shares on the effective date of new shares issuance.
25
(23) Revenue recognition
A. Online game revenue
The Company, as a game platform operator, providing the players access to online games
and purchase various services or virtual goods in the games. This virtual goods could be
purchased through the game platform, earned by playing the game. Once the players pay for
the games, the Company records as a contract liability, and revenue is deferred. This liability
will be reversed, and revenue will be recognized once the Company fulfills the performance
obligation; recognize revenue from the sale of durable virtual goods ratably over the
estimated average playing period of paying players for the applicable game. Based on the
historical experiences and other known factors, the amount and period of the deferred
revenue will be estimated. Meanwhile, the Company shall inspect the reasonableness of the
estimate regularly.
B. Service revenue
The Company's service revenue from the online platform development service shall be
recognized as income upon the fulfillment of the individual performance obligations. The
service income is based on the price described in the contract.
C. Royalty revenue
(a) When the Group’s game software is authorized to the client after the Group and the client
signed the contract, such licensing may differ; thus, the recognition of the licensing income
during the licensing period is decided by the nature of the licensing or when the control of
rights is transferred to the client. When the Group carries out significant activities that
affect the game software, causing direct impacts on the authorized clients but such
activities may not transfer product or service to the client, the nature of such licensing is
the provision of the right to access the intellectual property; thus, the relevant royalties are
recognized as income on a straight-line basis during the licensing period. If the licensing
does not comply with the aforementioned conditions, the nature shall be the provision of
the right to use the intellectual property to the client; thus, it shall be recognized as income
at the time of the licensing transfer.
(b)In the Group’s licensing contract of the intellectual property, the collection of the royalties
agreed with the client is calculated on the basis of customer sales. It is recognized as
income when the performance of the obligations is fulfilled, and the subsequent customer
sales actually occur.
D. Sales of goods
26
(a) The Group sells gaming device. The sales revenue is recognized when the control of the
product is transferred to the client; that is, when the product is handed to the client who
has the discretional power on the channel and price of the sales of the product, and the
Group has no unfulfilled performance of obligations that may affect the client' acceptance
of the product. When the product is shipped to the designated location, the risk of
obsolescence and extinction is being transferred to the client, and the client must accept
the product based on the sales contract, or when there is objective evidence to prove that
all acceptance criteria have been met when the delivery of the product occurs.
(b)The sales of the gaming device is recognized with the price of the contract. The payment
conditions for sales transactions are usually due 30 days after the invoice is issued. As the
time interval between the promised product or service to the client and the payment of the
client does not exceed one year, the Group does not adjust the transaction price to reflect
the time value of the currency.
(24) Organizational restructuring under common control
(a) According to the questions of business combination under common control which is
launched by Accounting Research and Development Foundation on October 26, 2018,
There is no clearly defined about the business combination in IFRS 3. Therefore, the
group restructuring was used the fair value method which was basic on the rules that
published by the government, and regarded as consolidated and restated the financial
statements from now on.
(b) The Company had merged with Aqura Technology Co., Ltd. on December 31, 2022,
which was restructuring in groups. In accordance with the regulations, the company has
been treated the merge with the Aqura Technology Co., Ltd was since the beginning.
5. Critical Accounting Judgements, Estimates and Key Sources of Assumption

Uncertainty
The preparation of these parent company only financial statements requires management to
make critical judgements in applying the Company’s accounting policies and make critical
assumptions and estimates concerning future events. Assumptions and estimates may differ
from the actual results and are continually evaluated and adjusted based on historical
experience and other factors. Such assumptions and estimates have a significant risk of
causing a material adjustment to the carrying amounts of assets and liabilities within the next
financial year; and the related information is addressed below:
(1) Critical judgements in applying the Company’s accounting policies: None
27
(2) Critical accounting estimates and assumptions
Recognition of online game income
In terms of the Company’s recognition of the online game income, it is deferred when the
game price is charged and is listed as “contract liability”. After points are being deducted, it
shall be amortized over the periods and recognized as income based on the player’s
remaining game period. Based on the historical experiences and other known reasons, the
amount and period of the possible deferment will be estimated. The Company will inspect
the reasonableness of the estimate regularly. Please refer to Note 6 (17). The contract
liabilities recognized by the Company were $2,577 thousands on December 31, 2022.
6. Details of Significant Accounts
(1) Cash and cash equivalents

Cash on hand $315 $204
Checking accounts and demand deposits 369,429 248,965
Total $369,744 $249,169
A. The Company transacts with a variety of financial institutions all with high credit quality to
dispersecred it risk, so it expects that the probability of counterparty default is remote.
B. The Company has no cash and cash equivalents pledged to others.
(2) Financial assets at fair value through other comprehensive income
Items December 31, 2022 December 31, 2021

Current items:
Unlisted stocks $- $30,400
Valuation adjustment - 47,104
$- $77,504
A. The Company has elected to classify stock investments that are considered to be strategic
investments as financial assets at fair value through other comprehensive income. The fair
value of such investments amounted to $77,504 thousand as at December 31, 2021,
respectively.
B. On January 1, 2022, the Company sold all of the shareholding to Heyyo Game Hk Limited
in the amount of US$2,800 thousand (converted to NT$77,504 thousand). Disposed of a
gain of $37,682 thousands (transferred from other equity to unappropriated earnings).
28
C. Amounts recognized in other comprehensive income in relation to the financial assets at fair
value through other comprehensive income are listed below:
Items 2022 2021
Equity instruments at fair value through other
comprehensive income
Fair value change recognized in OCI $- $46,635
Reclassified to retained earnings due to
derecognition $37,682 $-
Stock dividends recognized as profit or
loss held at the end of the fiscal year $- $28,148
D. The Company did not pledge financial assets at fair value through other comprehensive
income to others as collateral.
(3) Accounts receivable(does not include related parties)

Accounts receivable $43,243 $39,675
Less: Allowance for bad debts (5,725) (7,957)
$37,518 $31,718
A. The ageing analysis of notes and accounts receivable that were past due but not impaired is
as follows:

Not past due $37,285 $36,390
1 to 30 days 5,927 3,285
31 to 90 days 31 -
$43,243 $39,675
The above aging analysis is based on the number of days past due.
B. As of December 31, 2022, December 31, 2021, and January 1, 2021, the balances of
receivables from contracts with customers amounted to $43,243 thousand, $39,675 thousand,
and $45,914 thousand, respectively.
C. As at December 31, 2022, December 31, 2021, without taking into account any collateral
held or other credit enhancements, the maximum exposure to credit risk in respect of the
amount that best represents the Company’s accounts receivable was $37,518 thousand, and
$31,718 thousand, respectively.
D. Information relating to credit risk of notes and accounts receivable is provided in Note 12(2).
29
(4) Investments accounted for using equity method
December31, 2022 December31, 2021

Subsidiaries:
Game Dreamer (HK) Inc. Ltd. $51,459 $41,653
Jyun Mao Co., Ltd. 11,005 9,438
Hsu Tsun Co., Ltd. (29) (16)
Game Dreamer (Thai) Inc. Ltd. - -
Poseidon Net (HK) Limited 92,617 73,903
Megata Ltd. 127,835 114,807
$282,887 $239,785
A. Subsidiaries
(a) The information regarding the Company’s subsidiaries is provided in Note 4 (3) in the
consolidated financial statements for the year ended December 31, 2022.
(b) Based on the consolidation of resources to improve operating performance and

competitiveness, the company merged Aqura Technology Co., Ltd. on December 31, 2022,
and the company is the surviving corporation after the restructuring above, otherwise,
Aqura Technology Co., Ltd. was the merged company. The merge registrations were
completed and approved by the Taichung City Government on February 6, 2023.
(c) The Company acquired 100% equity interest in Oh Yeah Digital Co Ltd. on July 8, 2021.
Based on the consolidation of resources to improve operating performance and
competitiveness, the company merged Oh Yeah Digital Co Ltd. on September 22, 2021,
and the company is the surviving corporation after the restructuring above, otherwise, Oh
Yeah Digital Co Ltd. was the merged company. The merge registrations were completed
and approved by the Taichung City Government on October 20, 2021.
(d) In June 2021, the Tax authority reply tax issues for the transaction of the 0company
acquired the "Bravo Casino" business from Megata Ltd. in 2008. In accordance with the
determination, the company reversed amount $10,332 thousand on “Additional paid in
capital in excess of par common stock”.
(e) As of November 10, 2021, the Company acquired 30.02% shares of Poseidon Net (HK)
Limited in amounts of $12,484 thousand from non-controlling shareholder. After this
acquisition, the Company is the 100% shareholder of Poseidon Net (HK) Limited, detail
information are as follow:
30
2021
Carrying amount of Non‑Controlling Interest $18,486
Price paid for Non‑Controlling Interest (12,484)
Amount recorded on Additional Paid-In Capital $6,002
B. As of 2022 and 2021, the share of profit of associates accounted for using equity method
were $32,086 thousand and $47,073 thousand, respectively.
C. The above investments using the equity method are recognized on the basis of the financial
statements audited by the accountants of each subsidiary and associates for the same period.
(5) Property, plant and equipment
2022 At January 1 Additions Disposals At December 31

Cost
Office equipment $ 4,031 $- $- $ 4,031
Other equipment 1,643 - - 1,643
$5,674 $- $- $5,674
Accumulated
depreciation
Office equipment $(2,299) $(1,022) $- $(3,321)
Other equipment (941) (465) - (1,406)
$(3,240) $(1,487) $- $(4,727)
Total $2,434 $ 947
2021 At January 1 Additions Disposals At December 31
Cost
Office equipment $4,031 $- $- $ 4,031
Other equipment 1,359 284 - 1,643
$5,390 $284 $- $5,674
Accumulated
depreciation
Office equipment $(1,277) $(1,022) $- $(2,299)
Other equipment (424) (517) - (941)
(1,701) $(1,539) $- $(3,240)
Total $3,689 $2,434
Property, plant and equipment without pledged to others as collaterals.
(6) Lease transaction – lessee
A. The Group leases various assets including buildings, machinery and software. Rental
contracts are typically made for periods of 1 to 5 years. Lease terms are negotiated on an
individual basis and contain a wide range of different terms and conditions. The lease
agreements do not impose covenants, but leased assets may not be used as security for
borrowing purposes.
31
B. The carrying amount of right-of-use assets and the depreciation charge are as follows:

Carrying amount:
Buildings $3,521 $5,359

Depreciation:
Buildings $(1,838) $(1,602)
C. For the years ended December 31, 2022 and 2021, the additions to right-of-use assets
amounted to $0 thousand and $1,765, respectively.
D. The information on income and expense accounts relating to lease contracts is as follows:
2022 2021
Items affecting profit or loss
Interest expense on lease liabilities $87 $116
Expense on short-term leases $8,989 $8,210
E. For the years ended December 31, 2022 and 2021, the Company’s total cash outflow for
leases amounted to $10,923 thousand and $9,905 thousand, respectively.
(7) Intangible asset
Computer
Royalty software Goodwill Total
January1, 2022
Cost $- $342 $80,021 $ 80,363
Accumulated amortisation - (151) (151)
Accumulated impairment - - (80,021) (80,021)
$- $191 $- $191
2022
January1 $- $191 $- $191
Amortisation charge - (136) - (136)
December 31 $- $55 $- $55
December31, 2022
Cost $- $219 $80,021 $80,240
Accumulated amortization - (164)
Accumulated impairment - (136) (80,021) (80,021)
$- $55 $- $55
32
Computer
Royalty software Goodwill Total
January1, 2021
Cost $2,480 $124 $80,021 $ 82,625
Accumulated amortization (2,160) (14) - (2,174)
Accumulated impairment - - - -
$320 $110 $80,021 $80,451
2021
January1 $320 $110 $80,021 $80,451
Additions-acquired separately - 218 - 218
Impairment loss - - (80,021) (80,021)
Amortization charge (320) (137) - (457)
December 31 $- $191 $- $191
December31, 2021
Cost $- $342 $80,021 $80,363
Accumulated amortization (151) - (151)
Accumulated impairment - - (80,021) (80,021)
$- $191 $- $191
A. Details of amortization of intangible assets are as follows:
2022 2021
Operating cost $- $320
Management expense 136 137
$136 $457
B. Business mergers and acquisitions are recognized as goodwill when the acquisition price is
added to the direct costs of the related acquisition or when the merger is completed as a result
of the acquisition of control and the fair value is determined by applying a valuation
technique at the acquisition date to the interest in the acquired company, less the difference
in the fair value of the identifiable net assets acquired.
(a) The Company acquired 100% equity interest in Ben Ben Investment Co., Ltd.
(hereinafter referred to as Ben Ben Ltd.) on July 1, 2014 at a cost of $129,644 thousands
and the difference between the investment cost and the net equity interest of $80,021
thousands belonged to goodwill. Also on October 1, 2014, the Company resolved by
the Board of Directors to merge Ben Ben Ltd. and Game Dreamer Ltd. and the surviving
company was Game Dreamer Ltd.
33
(b) The Company resolved by the Board of Directors on 14 November 2016 to acquire
Game Dreamer Ltd. with the Company as the surviving company and Game Dreamer
Ltd. as the dissolved company, with 1 January 2017 as the record date of the merger.
(c) As of 2021, the Company recorded an impairment loss on operating segment Game
Dreamer, which carrying amount exceeds its recoverable amount, please refer to Note
6(8) for the information of goodwill impairment.
(8) Impairment of non-financial assets
A. The Company recognized impairment loss of Intangible asset and other un-current asset for
the years ended December 31, 2021. Details of such loss are as follows:
December 31, 2022: None.
2021
Intangible asset:
Goodwill $80,021
Other un-current asset:
Prepaid equipment 4,394
$84,415
B. The Company recorded an impairment loss on operating segment “GAME DREAMER” in

the amounts of $80,021 thousand in 2021.
The recoverable amount was determined based on value-in-use calculations. These

calculations use pre-tax cash flow projections based on financial budgets approved by the
management covering a 7-year period. Cash flows beyond the 7-year period were
extrapolated using the estimated growth rates stated below. The main assumptions used in
calculating value in use are set out below.
GAME DREAMER
Discount rate 23.43%

Growth rate 2.50%
Management determined budgeted gross margin based on past performance and their
expectations of market development. The weighted average growth rates used are consistent
with the projection included in industry reports. The discount rates used were pre-tax and
reflected specific risks relating to the relevant operating segments.
34
(9) Short-term borrowings
December 31, 2022: None.
Interest
December 31, 2021 rate Collateral
Bank borrowings:
Unsecured borrowings $20,000 1% -
For the years ended December 31, 2021, the interest expense is recognized in profit or loss
of $52 thousand, respectively.
(10) Other payables

Salaries and bonuses payable $35,864 $25,916
Advertising expenses payable 5,237 13,024
Others 14,752 11,406
$55,853 $50,346
(11) Other current liabilities

Collection $615 $48,049
Regarding the collection, which is mainly on behalf of non-associate Heyyo Game HK

Limited., for sales revenue in Taiwan. The Company’s shareholding in Heyyo Game HK
Limited. decreased on June 19, 2019.
(12) Pension
A. The Company established a defined benefit pension plan in accordance with the Labor
Pension Act, which is applicable to employees of domestic nationality. The Company makes
monthly contributions to the employees’ individual accounts of the Bureau of Labor
Insurance at the rate of 6% of their salaries and wages for the portion of the employees’
pension plan that is subject to the “Labor Pension Act”. Employees’ pensions are paid on the
basis of their individual pension accounts and the amount of accumulated earnings is
received as a monthly pension or as a lump sum.
B. For 2022 and 2021, the Company recognized pension costs under the aforementioned
pension plan were $3,897 thousands and $3,387 thousands respectively
35
(13) Capital stock
As of December 31, 2022, the Company had an authorized capital of $800,000 thousands
divided into 80,000 thousand shares (including 12,000 thousands shares reserved for
employee stock options) and paid-in capital of $420,006 thousand with a par value of $10
(in dollars) per share, and the total capital stock was $420,006 thousand.
(14) Capital surplus
Pursuant to the R.O.C. Company Act, capital surplus arising from paid-in capital in excess
of par value on issuance of common stocks and donations can be used to cover accumulated
deficit or to issue new stocks or cash to shareholders in proportion to their share ownership,
provided that the Company has no accumulated deficit. Further, the R.O.C. Securities and
Exchange Act requires that the amount of capital surplus to be capitalized mentioned above
should not exceed 10% of the paid-in capital each year. Capital surplus should not be used
to cover accumulated deficit unless the legal reserve is insufficient.
(15) Retained earnings
A. Under the Company’s Articles of Incorporation, the current year’s earnings, if any, shall
first be used to pay all taxes and offset prior years’ operating losses and then 10% of the
remaining amount shall be set aside as legal reserve and appropriate or reverse for special
reserve as required. The remainder, if any, to be retained or to be appropriated shall be
resolved by the stockholders at the stockholders’ meeting.
As the Company operates in a volatile business environment and is in the stable growth stage,
the residual dividend policy is adopted taking into consideration the Company’s financial
structure, operating results and future expansion plans. According to the dividend policy
adopted by the Board of Directors, at least 10% of the Company’s distributable earnings as
of the end of the period shall be appropriated as dividends, and cash dividends shall account
for at least 10% of the total dividends distributed.
B. Except for covering accumulated deficit or issuing new stocks or cash to shareholders in
proportion to their share ownership, the legal reserve shall not be used for any other purpose.
The use of legal reserve for the issuance of stocks or cash to shareholders in proportion to
their share ownership is permitted, provided that the distribution of the reserve is limited to
the portion in excess of 25% of the Company’s paid-in capital.
36
C.
(a) In accordance with In accordance with the regulations, the Company shall set aside
special reserve from the debit balance on other equity items at the balance sheet date
before distributing earnings. When debit balance on other equity items is reversed
subsequently, the reversed amount could be included in the distributable earnings.
(b) The amount previously set aside by the Company as special reserve on initial
application of IFRSs in accordance with Order No. Financial-Supervisory-Securities-
Corporate-1010012865, dated April 6, 2012, shall be the same as the amount
reclassified from accumulated translation adjustment under shareholders’ equity to
retained earnings for the exemptions elected by the Group. The increase in special
reserve as a result of retained earnings arising from the adoption of IFRS was $3,395
thousand.
(c) In accordance with the regulations, the Company shall set aside special reserve from
the debit balance on other equity items at the balance sheet date before distributing
earnings. When debit balance on other equity items is reversed subsequently, the
reversed amount could be included in the distributable earnings.
D. The appropriations proposal of 2020 earnings, which was resolved at the shareholders’
meeting on July 27, 2021, the detailed as follows:
(a) Regarding to Order No. Financial-Supervisory-Securities-Corporate-1010012865,

dated April 6, 2012, reversed amount $5,898 thousand on special reserve.
(b) As the Company had accumulated losses in 2020, the Company has no dividend to
distribute.
E. Due to the Company is operating loss in 2021 and the accumulated deficit, the Company
does not intend to distribute. As mentioned above, adoption of the proposal for 2021 deficit
compensation was reported and discussed in the Company’s annual meeting of shareholders.
F. Due to the Company is operating income in 2022 but still accumulated deficit, the Company
does not intend to distribute. As mentioned above, adoption of the proposal for 2022deficit
compensation has been reported and discussed in the Company’s Board meeting.
G. For the information relating to employees’ compensation and directors’ remuneration, please
refer to Note 6(22).
37
(16) Other equity items
2022
Unrealised gains
(losses) on
valuation from
financial assets at
Currency fair value through
translation OCI Total
At January 1 $(14,729) $37,777 $23,048
Revaluation - - -
Revaluation – tax - (95) (95)
Revaluation transferred to retained - (37,682) (37,682)
earnings
Currency translation differences:
–Subsidiary 11,016 - 11,016
At December 31 $(3,713) $- $(3,713)
2021
Unrealised gains
(losses) on
valuation from
financial assets at
Currency fair value through
translation OCI Total
At January 1 $(10,738) $469 $(10,269)
Revaluation - 46,635 46,635
Revaluation – tax - (9,327) (9,327)
Revaluation transferred to retained earnings - - -
Currency translation differences:
–Subsidiary (3,991) - (3,991)
At December 31 $(14,729) $37,777 $23,048
(17) Operation revenue
2022 2021
Revenue from contracts with customers $366,030 $352,919
A. Breakdown of revenue from contracts with customers
The Group's revenue is derived from revenue from gaming points received for the provision
38
of merchandise, licensing and services at a particular point in time, which can be broken
down into the following product categories and segments:
2022 2021
Revenue from licensing $167,265 $114,130
Services revenue 146,399 158,369
Online games 50,512 75,499
Sales of goods 2,454 4,921
$366,030 $352,919
B. Contract liabilities
The Company recognizes contractual liabilities related to customer contract revenue mainly
as deferred revenue from online gaming revenue with stored gaming points that have not
been consumed. Deferred revenue is recognized over the expected duration of players as
follows:
December 31, 2022 December 31, 2021 January1, 2021

Contract liabilities
–revenue from online games $2,577 $2,789 $1,665
Revenue recognized that was included in the contract liability balance at the beginning of the
year:
2022 2021
Revenue recognized that was included in the contract
liability balance at the beginning of the year $2,789 $1,665
(18) Interest Income
2022 2021
Bank Interest $848 $204
(19) Other Income
2022 2021
Dividend income $- $28,148
Other income - others 1,262 2,569
$1,262 $30,717
39
(20) Other gains and losses
2022 2021
Profit (loss) from foreign exchange $17,672 $(4,361)
Impairment loss of intangible assets - (80,021)
Other losses (9) (4,411)
$17,663 $88,793
(21) Additional information on the nature of expense
2022 2021
Employee benefit expense $112,823 $99,479
Property, plant and equipment depreciation expenses 1,487 1,539
Depreciation charges on right-of-use assets 1,838 1,602
Amortization expense of intangible assets 136 457
(22) Employee benefit expense
2022 2021
Wages and salaries $94,238 $83,653
Labor and health insurance fees 7,480 6,602
Pension cost 3,897 3,387
Directors’ remunerations 1,335 1,410
Other employee benefit expenses 5,873 4,427
$112,823 $99,479
A. In accordance with the Articles of Incorporation of the Company, a ratio of distributable

profit of the current year shall be distributed as employees ‘compensation and directors’
remuneration. The ratio shall not be lower than 1% for employees’ compensation and shall
not be higher than 3% for directors’ remuneration. If a company has accumulated deficit,
earnings should be reserved to cover losses first.
B. As the Company accumulated deficit in 2022 and 2021, the Company does not intend to
estimate compensation to employees and directors and supervisors. Information on the
remuneration of employees and directors and supervisors approved by the Board of Directors
can be found on the Market Observation Post System.
40
(23) Income tax
A. Income tax expense
(a) Components of income tax expense:

2022 2021
Current tax:
Current tax on profits for the year $19,793 $24,064
Overestimate of income tax for the previous year (879) -
Total current tax 18,914 24,064
Deferred tax:
Origination and reversal of temporary differences 3,557 (41,704)
Total deferred tax 3,557 (41,704)
Income tax (profit) expense $22,471 $(17,640)
(b) Reconciliation between income tax expense and accounting profit
2022 2021
Temporary differences:
Unrealized gain or loss on financial assets at fair value
through other comprehensive income $(95) $(9,327)
B. Reconciliation between income tax expense and accounting profit
2022 2021
Tax calculated based on profit/loss $29,767 $(18,918)
before tax and statutory tax rate
Expenses disallowed by tax regulation - 879
Tax exempt income by tax regulation (2,510) (7,912)
Temporary differences not recognized as deferred tax (3,907) -
Change in assessment of realization of deferred tax assets - 8,311
Overestimate of income tax for the previous year (879) -
Income tax (profit) expense $22,471 $(17,640)
(Remainder of page intentionally left blank)
41
C. Amounts of deferred tax assets or liabilities as a result of temporary differences, tax losses and investment tax credits are as follows:
2022
January 1 Recognized in profit or loss Recognized in OCI December31
Temporary differences::
-Deferred tax assets:
Contract liabilities $ 558 $ (558) $- $-
Unrealized foreign exchange losses 207 (207) - -
Associates 18 (18) - -
Allowance for bad debts 1496 (435) - 1,061
No vacation bonus 453 348 - 801
Allowance for loss of inventory 272 - - 272
Loss on tax 43,335 372 - 43,707
$ 46,339 $ (498) $- $ 45,841
-Deferred tax liabilities:
Unrealized foreign exchange gains - (3,059) - (3,059)
Unrealized gains on financial assets (9,327) - 9,327 -
$(9,327) $(3,059) $ 9,327 $ (3,059)
$ 37,012 $(3,557) $ 9,327 $ 42,782
42
2021
January 1 Recognized in profit or loss Recognized in OCI December31
Temporary differences::
-Deferred tax assets:
Contract liabilities $ 333 $ 225 $- $ 558
Unrealized foreign exchange (gains) losses 326 (119) - 207
Associates 18 - - 18
Allowance for bad debts - 1,496 - 1,496
No vacation bonus 582 (129) - 453
Allowance for loss of inventory 272 - - 272
Loss on tax 3,104 40,231 - 43,335
$ 4,635 $ 41,704 $- $ 46,339
-Deferred tax liabilities:
Unrealized gains on financial assets - - (9,327) (9,327)
$- $- $ (9,327) $ (9,327)
$ 4,635 $ 41,704 $ (9,327) $ 37,012
43
D. Expiration dates of unused tax losses and amounts of unrecognized deferred tax assets are as
follows:
December31, 2022
Year incurred Amount filed/ Unused amount deferred tax Expiry year
assessed assets
2021 Amount filed $218,534 - 2031
December31, 2021
Year incurred Amount filed/ Unused amount deferred tax Expiry year
assessed assets
2021 Planned Declaration $216,680 - 2031
E. The amounts of deductible temporary difference that are not recognized as deferred tax are as
follows:
2022 2021
Deductible temporary differences $225,665 $255,739
F. The Company’s income tax returns through 2020 have been assessed and approved by the Tax
Authority.
(24) Earnings (losses) per share
2022
Amount Weighted average Earnings
after tax number of ordinary per share
shares outstanding (in dollars)
(share in thousands)
Basic earnings per share $98,838 42,001 $2.35
Diluted earnings per share $98,838 42,001 $2.35
2021
Amount Weighted average Earnings
after tax number of ordinary per share
shares outstanding (in dollars)
(share in thousands)
Basic losses per share $(163,584) 42,001 $(3.89)
Diluted losses per share $(163,584) 42,001 $(3.89)
44
(25) Supplementary cash flow information
Financial assets measured at fair value through other comprehensive income or loss
2022 2021
Disposal of Financial assets measured at fair value through other $77,504 $-
comprehensive income or loss
Add: Notes receivable at the begging of the period - 19,688
Less: Notes receivable at the end of the period - (6,563)
Net Cash Inflow $77,504 $13,125
(26) Changes in liabilities from financing activities
Liabilities
from
Short-term Lease financing
borrowings liabilities activities
January 1, 2022 $20,000 $5,469 $25,469
Changes in cash flow from financing activities (20,000) (1,847) (21,847)
Changes in other non-cash items - - -
December 31, 2022 $- $3,622 $3,622
Liabilities
from
Short-term Lease financing
borrowings liabilities activities
January 1, 2021 $- $5,283 $5,283
Changes in cash flow from financing activities 20,000 (1,579) 18,421
Changes in other non-cash items - 1,765 1,765
December 31, 2021 $20,000 $5,469 $25,469
45
7. Related parties’ transactions
(1) Name and relationship of related parties
Name of Related Party Relationship with the Company

Game Dreamer (HK) Inc. Ltd. Subsidiary
Game Dreamer (Hangzhou) Inc. Subsidiary
Megata Ltd. Subsidiary
Poseidon Net(HK) Ltd. Subsidiary
Poseidon Net Limited Subsidiary
Xiang Shang Games Co., Ltd. Substantive related parties
Audere Gaming Co., Ltd. Substantive related parties
(2) Significant transactions with related parties
A. Operation revenue
Services revenue: 2022 2021

Megata Ltd. $25,001 $26,475
Audere Gaming Ltd. 26,338 17,767
Substantive related parties 1,874 6,732
$53,213 $50,974
Revenue from licensing:

Xiang Shang Ltd. $33,421 $17,976
Sales of goods:
Substantive related parties $120 $47
(a) The above-mentioned sale of services represents the Company’s revenue from the
construction of the control and management back-office for related parties. Payment
will be received within 15 working days of the invoice.
(b) The licensing fee is to provide game licensing and software licensing services to related
parties. The price is set in the contract as a monthly fixed amount and is settled quarterly.
Payment is made within 30 days after the invoice is issued; because there is no similar
service provided to general customers, so there are no general customer transactions to
46
compare.
(c) There is no significant difference between the transaction price and payment conditions
of commodity sales and non-related parties.
B. Purchases of services:
December 31, 2022：None.
2021
Xiang Shang Ltd. $4,066
Sub-subsidiary 1,007
$5,073
The services are purchased from the related parties under normal commercial terms and
conditions. The transaction price and payment terms are not materially different from those of
general suppliers. Payment are due on the 5th day of the following month and invoices are issued
for payment payable within 30 days after the end of the month, which is not materially different
from those of general suppliers.
C. Accounts receivable from related parties
Accounts receivable: 2022 2021

Audere Gaming Ltd. $7,122 $1,024
Xiang Shang Ltd. 3,184 2,306
Megata Ltd. 2,603 4,275
$12,909 $7,605
Other accounts receivable:

Megata Ltd. $1,382 $-
Poseidon Net Ltd. - 566
Subsidiary - 50
$1,382 $616
Other receivables are collections collected from related parties by the Company.
D. Accounts of related parties payable
Accounts payable: 2022 2021

Substantive related parties $120 $385
Other accounts payable: 2022 2021
47
Game Dreamer (Hangzhou) Inc. $9,492 $11,959
Poseidon Net Limited 1,932 4,958
Audere Gaming Ltd. 3,128 1,045
Xiang Shang Ltd. 164 3,558
$14,716 $21,520
Accounts payable are for the purchase of services from related parties, and other payables are
payments of collection to related parties.
E. Advance payment
2022 2021
F. Operating expenses
Marketing expenses:
2022 2021
Poseidon Net Limited $12,786 $24,127
Substantive related parties 2,738 379
$15,524 $24,506
General and administrative expenses:

Xiang Shang Ltd. $- $5,152
Research and development expenses:

Substantive related parties 16,077 12,639
$85,106 $89,234
The service fees such as marketing and game development paid to related parties and are settled
quarterly in accordance with the contract, with payment due 30 days after receipt of invoices.
G. Lease transaction - lessee
(a) The Company leased the building from Xiang Shang Games Co., Ltd. in accordance with
the general market condition due to the overall business planning and management
considerations, and the lease contract are for a period of 5 years (contracts period from
September 1, 2021 to August 31, 2026) and the rent is paid monthly.
48
(b) Acquisition of right-of-use assets
In 2022：None.
2021
Xiang Shang Games Co., Ltd. $1,765
(c) Lease liability
Lease liability December 31, December 31,
2022 2021
Xiang Shang Games Co., Ltd. $1,301 $1,649
Interest expense 2022 2021

Xiang Shang Games Co., Ltd. $12 $5
H. Loan to related parties
2022 2021
Outstanding balance:
Game Dreamer (HK) Inc. Ltd. $- $24,867
The terms of the loans to subsidiary is that the principal and interest are due one year after the
loan is made.
(3) Key management compensation
2022 2021
Short-term employee benefits $5,270 $4,922
Termination benefits 151 122
$5,421 $5,044
8. Pledged assets: None.
9. Significant Contingent Liabilities and Unrecognised Contract Commitments: None.
10. Significant Disaster Loss: None.
11. Significant Events after the Balance Sheet Date
On November 9, 2022, the board of directors approved the adjustment of the group's investment
structure, and obtained 100% of the equity of the group's subsidiary - Poseiden Net (HK) Ltd.,
which was reinvested in Poseiden Net Ltd.. The transaction price was US$455 thousand. The
transaction base date was on February 1, 2023.
49
12. Others
(1) Capital management
A. The Company’ carries out capital management to ensure the maximization of the shareholders’
compensations by optimizing the debt and equity balance under the premise of the continuous
operations.
B. The capital structure of the Company’ is composed of the Company’s net debt (i.e. loans minus
cash and cash equivalent) and equity (i.e. equity, capital reserves, retained earnings, and other
equities).
C. The Company’ needs no to respect other external regulations of capital.
D. Those who charged with governance of the Company reviews the Company's capital structure
yearly. The content to be reviewed include the cost and relevant risks of the different types of
capital. Based on the suggestions of the Company's main management, the overall capital
structure is balanced by the payment of dividends, issuance of new shares, repurchase of shares,
and issuance of new debts or repayment of old debts.
(2) Financial instruments
A. Financial instruments by category

Financial assets:
Financial assets measured at FVTOCI
Investment in designated equity instruments $- $77,504
Financial assets measured at amortized cost
Cash and cash equivalents $369,744 $249,169
Notes receivable - 18,785
Accounts receivable (including related parties) 50,427 39,323
Other accounts receivable (including related
parties) 1,382 25,483
Refundable deposits 1,988 2,000
Long-term notes receivable $423,541 $334,760
Financial liabilities:
Financial liabilities measured at amortized cost
Short-term borrowings $- $20,000
Accounts payable (including related parties) 2,224 2,664
Other payables (including related parties) 70,569 71,866
$72,793 $94,530
Lease obligations $3,622 $5,469
50
B. Risk management policy
(a) The Company’s daily operations are subject to a number of financial risks, including
market risk (including currency risk, interest rate risk and price risk), credit risk and
liquidity risk.
(b) Risk management is carried out by the Company’s Finance Department which is
responsible for identifying, assessing and hedging financial risks such as currency risk,
interest rate risk, credit risk, use of derivative and non-derivative financial instruments, and
investment of circulating capital by working closely with the various operating units within
the Company.
C. Significant financial risks and degrees of financial risks
(a) Market risk
Currency risk
i. Company operates on a multinational basis and is therefore exposed to currency risk arising
from transactions that are different from the functional currencies of the Company,
primarily the USD and HKD. The related currency risk arises from future business
transactions and recognized assets and liabilities.
ii. The Company shall hedge its overall currency risk through the Finance Department.
Currency risk is measured through highly probable expected transactions in USD,
HKD, Thai baht and RMB and the Company Finance Department shall reduce foreign
currency exposure position for Group to achieve the natural hedge.
iii. The Company’s risk management policy is to hedge against the expected cash flows in
each major currency.
iv. The Company is engaged in operations involving certain non-functional currencies (the
functional currency of the Company is New Taiwan Dollar) and is therefore subject to
exchange rate fluctuations. Analysis on foreign currency market risk subject to
significant exchange rate fluctuations is as follows:
51
2022
Foreign
Currency Book Value
(In thousands) Rate (NT$; In thousands)
(Foreign Currency:
Functional currency)
Financial assets
Monetary items
USD：TWD $6,059 30.71 $186,072
Non-monetary items
USD：TWD 3,510 30.71 107,784
HKD：TWD 15,862 3.94 62,464
Financial liabilities
Monetary items
USD：TWD 369 30.71 11,332
2021
Foreign
Currency Book Value
(In thousands) Rate (NT$; In thousands)
(Foreign Currency:
Financial assets
Monetary items
USD：TWD $4,968 27.68 $137,514
Non-monetary items
USD：TWD 3,207 27.68 88,777
HKD：TWD 14,396 3.55 51,091
Monetary items
USD：TWD 507 27.68 14,034
v. An analysis of the Company’s exposure to foreign currency market risk due to

significant exchange rate fluctuations is as follows:
2022
Effect on other
Sensitivity analysis Degree of Effect on comprehensive
variation profit or loss income
(Foreign Currency:
Financial assets
monetary items
USD：TWD 1% $1,861 $-
Non-monetary items
USD：TWD 1% - 1,078
52
HKD：TWD 1% - 625
monetary items
USD：TWD 1% 113 -
2021
Effect on other
Sensitivity analysis Degree of Effect on comprehensive
variation profit or loss income
(Foreign Currency:
Financial assets
monetary items
USD：TWD 1% $1,375 $-
Non-monetary items
USD：TWD 1% - 888
HKD：TWD 1% - 511
monetary items
USD：TWD 1% 140 -
vi. The total unrealized exchange gain (loss), including realized and unrealized, arising
from significant foreign exchange variation on the monetary items held by the Group
for the years ended December 31, 2022 and 2021, amounted to gain $17,672
thousand and loss $4,361 thousand, respectively.
Price risk
i. Equity instruments to which the Company is exposed to price risk are those financial
assets held at fair value through other comprehensive income.
ii. The Company primarily invests in equity instruments issued by domestic companies.
The prices of these equity instruments are subject to the uncertainty of the future value
of the underlying investment. If the price of these equity instruments had increased or
decreased by 1% and all other factors had remained constant, other comprehensive
income that was classified as a gain or loss on equity investment measured at fair value
through other comprehensive income for 2021 would have increased or decreased by
$620 thousands, respectively.
(b) Credit risk
53
i. The Company’s credit risk refers to the risk of financial loss to the Company due to
the customers or counterparties of financial instruments fail to meet their contractual
obligations, mainly arising from the inability of counterparties to settle receivables that
are payable in accordance with the terms of collection and contractual cash flows from
investments in debt instruments classified as amortized cost.
ii. The Companysets up its credit risk management policy based on Group’s
perspective. The credit ratings of the Company’s major correspondent banks are good
and there are no concerns about significant credit risk. In accordance with its internal
credit policy, each operating entity within the Company is required to conduct a
management and credit risk analysis for each new customer before proposing the
payment terms and conditions for delivery. According to internal risk management,
the Company shall assess the quality of customers' credit by considering their
financial position, past experience and other factors. The Board of Directors
determines the limits of individual risks based on internal or external evaluations and
regularly monitors the use of credit facilities.
iii. The Company uses IFRSs9 to provide the premise that a default is deemed to have
occurred when contractual payments are more than 90 days past due in accordance
with the agreed payment terms.
iv. The Company uses IFRSs9 to provide the following premise to determine whether
there has been a significant increase in credit risk on a financial instrument since
its initial recognition:
When contractual payments are more than 30 days past due the credit risk of the
financial asset has increased significantly since the initial recognition.
v. The indicators used by the Company to determine that investments in debt instruments
are impaired by credit are as follows:
- The probability that the issuer will experience significant financial difficulties or
will enter bankruptcy or other financial reorganization is significantly increased;
- The issuer delays or fails to pay interest or principal;
- Adverse changes in national or regional economic conditions that result in the
issuer's default.
vi. The Company applies a simplified approach to estimating expected credit losses on
accounts receivable from customers based on the provisioning matrix, which takes into
account the customers’ past defaults, current financial condition and economic
situation of the industry. As the Company’s credit history experience shows that there
54
is no significant difference in the loss patterns of different customer groups, the
provisioning matrix does not further differentiate between customer groups and only
sets the expected credit loss rate based on the number of days accounts receivable are
past due.
vii. The Company incorporates forward-looking considerations to adjust the loss rate
established by historical and current information for a specific period to estimate the
allowance for losses on receivables, the Company has no significant past due
receivables and therefore expects a small amount of credit losses.
Not past due Up to 30 31 to 90 Over 90 Total

days past due days past due days past due
December 31, 2022
Rate 12.39% 18.10% 100.00% 100.00%
Total book value $37,285 $5,927 $31 $- $43,243
Loss allowance $(4,621) $(1,073) $(31) $- $(5,725)
Not past due Up to 30 31 to 90 Over 90 Total

days past due days past due days past due
December 31, 2021
Rate 17.32% 50.41% 100.00% 100.00%
Total book value $36,390 $3,285 $- $- $39,675
Loss allowance $(6,301) $(1,656) $- $- $(7,957)
viii. The statement of changes in the Company’s allowance for losses on accounts
receivable using the simplified approach is as follows:
2022 2021
Accounts receivable Accounts receivable
January 1 $7,957 $12
Provision for impairment - 7,945
Reversal of impairment loss (2,232) -
December 31 $5,725 $7,957
ix. The Company’s main customer is located in North America, using the US GDP growth
rate as an indicator, to estimate expected credit losses based on historical and current
55
information adjusted to estimate the probability of default on its investments in debt
instruments as of December 31, 2022 and 2021.
(c) Liquidity risk
i. The Company's finance department supervises forecasts of the Company's circulating

capital requirements to ensure that it has sufficient funds to meet its operating needs.
The forecast shall take into account the Company's debt financing plan, compliance
with debt terms and meet its financial ratio target.
ii. Surplus cash held by the Company in excess of what is required for working capital
management will be transferred back to the Company’s Finance Department. The
Company’s Finance Department invests surplus funds in interest-bearing demand
deposits, time deposits, and marketable securities with appropriate maturities or
sufficient liquidity in the instruments to provide sufficient level of dispatch in response
to these forecasts.
iii. Details of the Company’s undrawn borrowings are as follows:

Unsecured bank loan credit
(Revisited annually)
- Amount spent $ - $ 20,000
- Amount unspent 125,000 83,000
$ 125,000 $ 103,000
Secured bank loan credit
(extended by mutual agreement)
- Amount spent $ - $ -
- Amount unspent 40,000 -
$ 40,000 $ -
56
iv. The following table shows the Company’s non-derivative financial liabilities, which are grouped according to their respective maturity dates.
The non-derivative financial liabilities are analyzed based on the remaining period from the Statement of Financial Position date to the
contractual maturity date, and the contractual cash flow amounts disclosed in the table are the undiscounted amounts.
Non-derivative financial liabilities:

December 31, 2022 Within 1 year 1-2 years 2-3 years Over 3 years Total
Accounts payable (including related parties) $2,224 $- $- $- $2,224
Other payables (including related parties) 70,569 - - - 70,569
Lease liability 1,935 1,147 360 240 3,682
$74,728 $1,147 $360 $240 $76,475
Non-derivative financial liabilities:

December 31, 2021 Within 1 year 1-2 years 2-3 years Over 3 years Total
Short-term borrowings $20,083 $- $- $- $20,083
Accounts payable (including related parties) 2,664 - - - 2,664
Other payables (including related parties) 71,866 - - - 71,866
Lease liability 1,935 1,935 1,147 600 5,617
$96,548 $1,935 $1,147 $600 $100,230
57
(3) Fair value information
A. The levels of valuation techniques used to measure the fair value of financial and non-financial
instruments are defined as follows:
Level 1 inputs: Level 1 inputs are quoted prices in active markets for identical assets or liabilities
that the entity can access at the measurement date. An active market is a market
in which transactions in assets or liabilities occur with sufficient frequency and
volume to provide quoted prices on a continuous basis.
Level 2 inputs: Level 2 inputs are inputs other than quoted market prices included within Level
1 that are observable for the asset or liability, either directly or indirectly. The
Company’s investments in equity instrument in inactive markets is classified in
level 2.
Level 3 inputs: Inputs are unobservable inputs for the asset or liability. The Company’s
investment in equity instruments in inactive markets is classified in level 3.
B. Financial instruments that are not measured at fair value
The carrying amounts of the Company’s financial instruments, accounts receivable including
related parties, other receivables, financial assets measured at amortized cost, accounts payable
and other payables that are not measured at fair value represent reasonable approximations of fair
value.
C. The Company classifies financial instruments measured at fair value on the basis of the nature,
characteristics and the level of risk and fair value of assets and liabilities, as follows:
December 31, 2021 Level 1 Level 2 Level 3 Total

Assets
Recurring fair value
Financial assets
measured at FVTOCI
-Equity securities $ - $ - $ 77,504 $ 77,504
58
D. There were no transfers between Level 1 and Level 2 in 2022 and 2021.
E. The following table shows the changes in level 3 for 2022 and 2021:
2022 2021
Equity securities Equity securities
January 1 $77,504 $30,869
Gain or loss recognized as other
comprehensive gain/loss
Accounted for equity instruments
measured at fair value through OCI - 46,635
Sold in this period (77,504) -
Current liquidation
December 31 $- $77,504
F. The Company’s Finance department is in charge of valuation procedures for fair value
measurements being categorized within Level 3, which is to verify independent fair value of
financial instruments. Such assessment is to ensure the valuation results are reasonable by
applying independent information to make results close to current market conditions,
confirming the resource of information is independent, reliable and in line with other resources
and represented as the exercisable price, and frequently calibrating valuation model, performing
back-testing, updating inputs used to the valuation model and making any other necessary
adjustments to the fair value.
59
G. The quantitative information and sensitivity analysis of changes in significant unobservable inputs, which are significant unobservable
inputs to the valuation model used for Level 3 fair value measurement items, are described below:
Fair Value Significant Interval.

December31, unobservable input (weighted Input value to fair value
2021 Valuation method value average) relationship
Non-derivative equity $ 77,504 Free cash flow Weighted average 23.43% The higher weighted
instruments: discounting method cost of funds average cost of funds, the
Shares of unlisted companies lower the fair value
H. The Company has carefully evaluated the evaluation models and evaluation parameters selected. However, the use of different
evaluation models or evaluation parameters may result in different evaluation results. For financial assets and financial liabilities
classified as Level 3, changes in valuation parameters would have the following impact on profit or loss or other comprehensive
income for the period:
December 31, 2021

Recognized in OCI
Input Variation Favorable change Adverse change
Financial assets
Equity instrument Weighted average cost of funds ±1% $298 $(291)
60
13. Disclosure notes
(1) Information on significant transaction matters
A. To loan funds to others: please refer to table 1.
B. Endorsement and warranties for others: please refer to table 2.
C. Marketable securities held at the end of the period (excluding the investment within
subsidiaries, associates and jointly controlled entities): None.
D. The cumulative purchase or sale of the same marketable securities amounted to at least
NT$300 million or 20% of the paid-in capital: None.
E. Acquisition of properties amounted to at least NT$300 million or 20% of the paid-in capital:
None.
F. Disposal of properties amounted to at least NT$300 million or 20% of the paid-in capital:
None.
G. Purchases and sales to related parties amounted to at least $100 million or 20% of the paid-in
capital: None.
H. Related parties receivables amounted to at least NT$100 million or 20% of paid-in capital:
None.
I. Engaging in derivative transactions: None.
J. Business relationships and significant transactions between the Parent Company and Its
Subsidiaries and each of its subsidiaries and the amounts thereof: please refer to table 3.
(2) Information on reinvestment business
Information on the investee company's name, location, etc. (excluding the Chinese investee
company): please refer to table 4.
(3) Information on investment in China
A. Basic information: please refer to table 5.
B. Significant transactions that occurred directly or indirectly through third-party businesses with
investees that have invested in China: please refer to note 13 (1) J.
61
(4) Information of major shareholders
Information of major shareholder: please refer to table 6.
(5) Segments information: Not applicable.
62
To Loan Funds to Others
From January 1, 2022 to December 31, 2022
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)
Table 1
No. Financing Counterparty Financial Related Maximum Ending Amount Range of Nature Transaction Reason for Allowance for Collaterals Financing Financing Note
(Note 1) Company Statement Account Party Balance for Balance Actually interest of the Amounts short-term Bad Debt Limits for Company’s Total
the Period Drawn rate loan financing Each Financing
Name Value
(note 2) Borrowing Amount Limits
Company (Note 3)
0 GameSparcs Game Dreamer Other receivables- Yes $112,100 $- $- - (2) $- Business $- Nil $- $266,120 $266,120 Note 4
Co., Ltd. (HK) Ltd. related parties turnover
0 GameSparcs Poseiden Net Other receivables- Yes 80,000 80,000 - - (2) - Business - Nil - 266,120 266,120 Note 4
Co., Ltd. Ltd. related parties turnover
Note 1: The description of the number column is as follows:

(1) The issuer is entered as 0.
(2) The investee companies are numbered in orders starting from 1.
Note 2: The nature of the loan of funds is described as follows:

(1) Those who have business dealings.
(2) Those who have the need for short-term financing.
Note 3: Calculation and amount of capital loan and limit

1. Individual customer funds lending limit
(1) For business transactions:
A. The amount of funds loaned to the Company as a result of business transactions shall not exceed the amount of business transactions between the two parties.
(2) For short-term capital financing:
A. The limit on the lending of funds to individual customers shall be limited to 40% of the current net worth of the company in accordance with each company's capital lending procedures.
B. The aforementioned restriction does not apply to the lending of funds between foreign companies in which the Company directly or indirectly holds 100% of the voting shares.
2. For short-term capital financing:
(1) Business transactions:
A. Any loan of funds for business transactions shall not exceed the amount of business transactions between the two parties.
(2) For short-term capital financing:
A. The lending limit to individual customers is limited to 40% of the current net worth of the company in accordance with each company's capital lending procedures.
B. For foreign companies in which the Company directly or indirectly holds 100% of the voting shares, the limit shall not exceed 40% of the net value of the company.
3. The calculation of the Company's capital contribution limit is based on the Company's audited net financial statements; the calculation of the investee's capital contribution limit is based on the Company's reviewed financial statements in foreign currencies.
Note 4: The amount has been eliminated in the preparation of the Group's consolidated financial statements.
63
Endorsement and Warranties for Others
Table 2
No. Endorsement/ Guaranteed party Limits on Maximum Ending Amount Amount of Ratio of accumulated Maximum Guarantee Guarantee Guarantee of Note
(Note 1) Guarantee Endorsement/ balance balance actually endorsement/ endorsement/guarantee endorsement/ provided provided the
Provider Guarantee for the period drawn guarantee to net equity per lastet guarantee by by a endorsement
Name Relation Amount collateralized financial statements amount parent subsidiary to Mainland
ship Provided to Each by (%) allowable company China
(note 2) Guaranteed Party properties (note 3)
(note 3)
0 GameSparcs Game Dreamer (2) $532,241 $196,175 $- $- $- - $665,301 Yes No No -
Co., Ltd. (HK) Ltd.
0 GameSparcs Megata Ltd. (2) 532,241 30,000 30,000 - - 4.51% 665,301 Yes No No -
Co., Ltd.
Note 1: The description of the number column is as follows

(1) The issuer is entered as 0.
(2) The investee companies are numbered in orders starting from 1.
Note 2: The relationship between the endorser and the endorsed guarantor is as follows.
(1) A company with business relationship.
(2) Subsidiaries that directly own more than 50% of the common stock.
(3) An investee company in which the combined ownership of the parent company and the subsidiary exceeds 50% of the common stock.
(4) A parent company that directly or indirectly holds more than 50% of the common stock of a company through a subsidiary.
Note 3: The calculation method and amount of endorsement guarantee limit.
1. The endorsement and guarantee limit for a single enterprise:
(1) If the Company engages in endorsement and guarantee for business transactions, the amount of individual endorsement and guarantee shall not exceed the amount of business transactions between the two parties in the
most recent year. The maximum amount shall not exceed 20% of the Company's net worth.
(2) The Company's endorsement and guarantee for a single enterprise shall be limited to 80% of the Company's latest financial statement net worth in accordance with the Company's endorsement and guarantee operation
procedures.
2. Maximum endorsement and guarantee limit:
(1) If the Company engages in endorsement and guarantee for business transactions, the total amount of endorsement and guarantee shall not exceed 20% of the net worth of the Company.
(2) The cumulative external endorsement and guarantee of the Company and its subsidiaries shall be limited to 100% of the net value of the Company's latest financial statements in accordance with the Company's
endorsement and guarantee operation procedures.
3. The limit of the Company's endorsement and guarantee is calculated based on the net value of the Company's financial statements as audited by the accountants.
64
Business Relationships, Significant Transactions, and Amount between the Parent Company and Subsidiaries and Between Subsidiaries
Table 3
Conditions of transactions
Relationship
No.
Name of the trader Name of the transaction counterparty with the trader Account Amount Terms of Percentage to consolidated net revenue
(note 1)
(note 2) transaction or total assets (note 3)
0 GameSparcs Co., Ltd. Game Dreamer (Hangzhou) Ltd. 1 Operating expenses $65,935 Settlement once a month, 8.45%
with payment due 30
days after receipt of
invoices.
Note 1: The description of the number column is as follows

(1) The Parent company is entered as 0.
(2) The subsidiaries are numbered in order starting from 1.
Note 2: There are three types of relationships with the counter-parties, and the types are indicated. (If the transaction is between a parent company and a subsidiary or between subsidiaries, there is no need to repeat the disclosure.
For example, if the parent company has disclosed the transaction with the subsidiary, the subsidiary does not need to disclose the transaction repeatedly:
For subsidiary-to-subsidiary transactions, if one of the subsidiaries has already disclosed the transaction, the other subsidiary does not need to disclose it repeatedly):
(1) Parent company to subsidiary.
(2) Subsidiary to parent company.
(3) Subsidiary to subsidiary.
Note 3: The ratio of transaction amount to consolidated total revenue or total assets is calculated based on the ending balance of transaction to consolidated total assets for balance sheet accounts, or as the cumulative transaction
amount for the period to consolidated total operating revenues for income statement accounts.
Note 4: The transaction prices between parent and subsidiary companies are based on contractual provisions and adjusted according to the affiliates' capital utilization. The remaining transactions are determined by mutual agreement
because there are no similar transactions.
Note 5: This schedule only discloses one-way transaction information, and the above transactions have been write off in the preparation of the consolidated financial statements.
Note 6: This schedule only discloses the transaction that higher than 3% of the consolidated total assets
65
Name, Location, and Other Related Information of Investees (Excluding Investees in Mainland China)
Table 4
Investor Company Investee Company Location Main businesses Original investment amount Balance at the end of the period Net income Share of Note
December 31, December 31, Shares % Book value (loss) of the profit/loss of
2022 2021 investee investee
GameSparcs Co., Ltd. Game Dreamer (HK) Ltd. Hong Kong Game agency and operation, general advertising $249,049 $249,049 64,000,000 100% $51,459 $6,625 $6,625 Note 2、3
services, game peripheral products, etc.
GameSparcs Co., Ltd. Hsu Tsun Enterprise Co., Ltd. Hong Kong Advertising services - - - 100% (29) (11) (11) Note 2、3
GameSparcs Co., Ltd. Jyun-Mao Co., Ltd. Hong Kong Game agency and operation, general advertising 80,617 80,617 21,000,000 100% 11,005 512 512 Note 2、3
GameSparcs Co., Ltd. Game Dreamer (Thai) Ltd. Thailand Game operation and advertising services, etc. - - - - - - - Note 2、3、5
GameSparcs Co., Ltd. Poseiden Net (HK) Ltd. Hong Kong Game agency and operation, general advertising 42,324 42,324 1,428,900 100% 92,617 12,408 12,408 Note 2、3
GameSparcs Co., Ltd. Megata Co., Ltd. Taiwan R&D and sales of game software, etc. 150,000 150,000 15,000,000 60% 127,835 20,919 12,551 Note 2、3
GameSparcs Co., Ltd. Aqura Technology Co., Ltd. Taiwan Development and licensing of online game - 520,000 - - - - - Note 2、3、6
software, etc.
Poseiden Net (HK) Ltd. Poseiden Net Ltd. Taiwan Game agency and operation, general advertising 35,000 35,000 3,500,000 100% 13,752 (6,577) - Note 2、3、4
Megata Co., Ltd. Megata (HK) Co., Ltd. Hong Kong R&D and sales of game software, etc. 9,066 9,066 - 100% 5,947 (601) - Note 2、3、4
Note 1: Please refer to Table 5 for information on the investee companies in China.
Note 2: The marketable securities held by each investee company are not imputed.
Note 3: The financial statements of the consolidated companies have been eliminated on a consolidated basis.
Note 4: The sub-subsidiary and its investment gain or loss is not shown.
Note 5: The investment is currently in the process of liquidation.
Note 6: Based on the management, The Aqura Technology Co., Ltd. had been merged on December 31, 2022.
66
Information on investments in Mainland China
Table 5
Investee Company Main business Paid-up Method of Accumulated Investment amount Cumulative (Loss) Shareholding Investment Carrying Investment Note
in Mainland China activities capital investment investment funds remitted or recovered investment income of the (loss) amount of income
(Note 2) (Note 1) remitted from Taiwan during the period amount remitted of Company's recognized investments remitted for
at the beginning of the from Taiwan at investees direct or during the at the end of the period
period the end of the for the indirect period the period ended
Remitted Recovered period (Note 3) period investments
Game Dreamer Game Development $7,809 2 $7,809 - - $7,809 ($434) 100% - $10,748 - Note 4、5
(Guangzhou) Ltd. and Data
Processing
Game Dreamer Game Development - 2 - - - - 1,507 100% - 6,396 - Note 4、5
(Hangzhou) Ltd.
Megata (Chengdu) Game Development 14,480 3 14,480 - - 14,480 99 100% - 9,220 - Note 4、5
Co., Ltd.
Note 1: The following three types of investment methods are distinguished and can be labeled as follows:
(1) Direct investment in China
(2) Reinvestment in the Mainland through companies registered in third region.
(3) Other methods
Note 2: The paid-in capital of HK$2,000 thousands for Game Dreamer (Guangzhou) Ltd. and US$500 thousands for Megata (Chengdu) Co., Ltd.
Note 3: The cumulative investment amounts of HK$2,000 thousands for Game Dreamer (Guangzhou) Ltd. and US$500 thousands for Megata (Chengdu) Co., Ltd.
Note 4: The sub-subsidiary and its investment income or loss is not shown.
Note 5: Transactions between the Company and its subsidiaries been write off in the preparation of the consolidated financial statements.
67
Information on investments in Mainland China
Table 5 (Continued)
Ending balance of accumulated Approved Investment Amount Investment amount in Mainland

otflow of investment from by Investment Commission, China in accordance with the
Company Name Taiwan (Note 1) Ministry of Economic Affairs regulations of the Investment
(Note 2) Commission of the Ministry of
Economic Affairs (Note 3)
GameSparcs Co., Ltd. $ 22,289 $ 22,289 $ 399,181
Note 1: The accumulated remittance amounts from Taiwan to Mainland China at the end of the period were HK$2,000 thousands and US$500 thousands.
Note 2: The investment amount approved by investment commission, MOEA were HK$10,000 thousands and US$500 thousands.
Note 3: The calculation is based on the limit (60% of net value) set by the Ministry of Economic Affairs (MOEA) in the "Principles for Examination of
Investment or Technical Cooperation in Mainland China".
68
Information on Major Shareholders
January 1, 2022 to December 31, 2022
Table 6
Major Shareholders Shares

Number of Shares Held Shareholding Ratio
KU, KANG-WEI 7,875,000 18.74%
LUCKY CENTURY ENTERPRISES LIMITED. 5,449,311 12.97%
CHEN HAO INVESTMENT CO., LTD. 5,040,000 11.99%
HSIH JIE INTERNATIONAL INVESTMENT CO., LTD. 3,780,000 8.99%
CHANG,CHIANG-SEN 3,141,000 7.47%
KU, CHE-MING 2,625,000 6.24%
Note 1: The information on major shareholders in this table is based on the last business day of each quarter, and is calculated based
on the information that shareholders hold at least 5% of the Company's common and preferred shares that have been delivered
without physical registration (including treasury stock).The number of shares recorded in the Company's financial statements and
the actual number of shares delivered without physical registration may differ depending on the basis of preparation of the
calculations.
Note 2: The above information is revealed by the trustee's opening of a trust account with the trustee's individual subaccount if the
shareholder has delivered the shares to the trust. For shareholders who hold shares in excess of 10% in accordance with the Securities
and Exchange Act, their shareholdings include their own shares plus the shares they have delivered to the trust. For information on
insider ownership reporting, please refer to the Market Observation Post System.
69
Cash and Cash Equivalents Schedule
January 1, 2022 - December 31, 2022
Schedule 1
Item Summary Amount

Cash on hand $315
Bank deposits: 192,992
Demand deposit
Demand deposit -USD (USD $5,656 thousands, exchange rate 30.71) 173,701
Demand deposit -Other foreign currency 2,736
$369,744
70
Accounts Receivable Schedule
Schedule 2
Related parties: Amount

Megata Ltd. $2,603
Audere Gaming Co., Ltd. 7,122
Xiang Shang Games Co., Ltd. 3,184
$12,909
Non-related parties:
A Company $22,682
B Company 6,735
C Company 4,051
D Company 3,808
Others * 5,967
Less: Allowance for doubtful accounts (5,725)
$37,518
$50,427
*Each fractional account balance does not exceed 5% of the subject
71
Investment Changes under the Equity Method Schedule
Schedule 3
Name Opening balance Increase in the Decrease in the Closing balance Market value / Net Collateral
current period current period Assets Value (Note)
Number Amount Number Amount Number Amount Number % Amount Unit Total
of of shares of of Price Amount
shares shares shares (NT$)
Game Dreamer (HK) Inc. Ltd. 64,000,000 $41,653 - $9,806 - $- 64,000,000 100% $51,459 - $51,459 Nil
HSU-TSUN Co., Ltd. - (16) - - - (13) - 100% (29) - (29) Nil
Jyun-Mao Co., Ltd. 21,000,000 9,438 - 1,567 - - 21,000,000 100% 11,005 - 11,005 Nil
Game Dreamer (Thai) Inc. Ltd. - - - - - - - 100% - - - Nil
Poseidon Net(HK) Ltd. 1,428,900 73,903 - 18,714 - - 1,428,900 100% 92,617 92,617 Nil
Megata Ltd. 15,000,000 114,807 - 13,028 - - 15,000,000 60% 127,835 - 127,835 Nil
Total $239,785 $43,115 $(13) $282,887 $282,887
Note: The calculation of net asset value is mainly based on the financial statements of the investee companies and the Company's shareholding ratio.
72
Short term borrowings Schedule
Schedule 4
Please reference to Note 6 (9).
73
Accounts payable Schedule
Schedule 5
Name of Supplier Summary Amount

A company IT expenses $701
B company Cloud server expenses 676
C company IT expenses 347
D company IT expenses 300
Other * 80
Total $2,104
*Each fractional account balance does not exceed 5% of the subject
74
Other payable Schedule
Schedule 6
75
Operating Revenue Schedule
Schedule 7
Items Amount
Authority $167,265
Service revenue 146,399
Online game 50,512
Sales goods 2,454
Total $366,630
76
Operating Cost Schedule
Schedule 8
Item Amount
Platform service charges $10,506
Internet charges 9,077
Authority cost 1,155
Cost of goods 2,244
Total operating costs $22,982
77
Marketing Expenses Schedule
Schedule 9
Item Amount
Advertising $32,628
Outsourcing fees 13,815
Payroll expenses (including pensions cost) 11,138
Internet fees 7,167
Others * 4,135
* Each fractional account balance does not exceed 5% of the subject
78
Management Expenses Schedule
Schedule 10
Item Amount
Payroll expenses (including pensions cost) $28,015
Professional service fees 4,144
Depreciation 2,970
Insurance premiums 2,457
Others * 6,333
79
GameSparcs Co., Ltd..
Research and development expense Schedule
Schedule 11
Item Amount
Professional service fees $81,099
Payroll expenses (including pensions cost) 58,982
Others * 23,422
80
Research and development expense Schedule
Schedule 12
81
Employee Benefits, Depreciation, Depletion and Amortization Expense Incurred During the Period
Schedule 13
Function 2022 2021

Character Classified as Classified as Total Classified as Classified as Total
Operating costs Operating expense Operating costs Operating expense
Employee benefit expense
Salaries expense $- $94,238 $94,238 $- $83,653 $83,653
Labor insurance and health insurance expenses - 7,480 7,480 - 6,602 6,602
Pension cost - 3,897 3,897 - 3,387 3,387
Directors’ compensation - 1,335 1,335 - 1,410 1,410
Other employee benefit expenses - 5,873 5,873 - 4,427 4,427
Depreciation - 3,325 3,325 - 3,141 3,141
Amortization - 136 136 320 137 137
Notes:
1. The number of employees for the current year and the previous year was 99 and 93, respectively, of which the number of directors who did not serve as employees was 7 and 7 respectively.
2. (1) The average employee benefit expense for the year was $1,212 thousands. ("Total employee benefit expense – total director's compensation for the year" / "Number of employees – number of directors who did not serve as employees).
The average employee benefit expense for the prior year was $1,140 thousands. ("Total employee benefit expense – total director's compensation for the prior year" / "Number of employees –number of directors who were not part-time
employees).
(2) Average employee payroll costs for the year were $1,024 thousands. (Total payroll costs for the year / “Number of employees for the year - number of directors who did not serve as employees”).
Average employee payroll costs for the prior year were $973 thousands. (Total payroll costs for the prior year / “Number of employees for the prior year – number of directors who did not serve as employees”).
(3) The average employee payroll costs are adjusted by 5.24%. ("Current year average employee payroll costs less prior year average employee payroll costs" / prior year average employee payroll costs).
(4) The remuneration of the Company's directors includes directors' compensation, travel expenses and directors' remuneration. The remuneration of the Company's directors is specified in the Company's Articles of Incorporation, evaluated and
recommended by the Compensation Committee and submitted to the Board of have been approved by the directors and were reported in the shareholders' meeting.
The Company does not currently pay remuneration to its directors, and the Company's travel expenses and remuneration to its directors are based on industry standards.
Compensation for managers and employees includes salaries, bonuses and employee compensation are based on the positions held, responsibilities assumed and contributions made to the Company, and are determined with reference to industry
standards. The process of setting compensation is based on the evaluation and recommendation of the Salary and Compensation Committee. The compensation plan is evaluated and recommended by the Compensation Committee and submitted
to the Board of Directors for approval, and employee compensation is reported to the shareholders' meeting.
82

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GameSparcs Co., Ltd.

Parent Company Only Financial Statements for the Years Ended

The Board of Directors and Shareholders

Basis for Opinion

Key Audit Matters

The audit procedures performed as follows:

‧ We sampled the accuracy of the remaining game period reports of players.

3. Evaluate the appropriateness of accounting policies used and the reasonableness of

4. Conclude on the appropriateness of management’s use of the going concern basis of

Price waterhouse Coopers Taiwan

(Continued on next page)

The notes attached are part of the individual financial statements.

Chairperson：Ku, Kang-Wei Manager：Ku, Kang-Wei Accounting Manager：Su, Chien-Tung

The notes attached are part of the individual financial statements.

Chairperson：Ku, Kang-Wei Manager：Ku, Kang-Wei Accounting Manager：Su, Chien-Tung

The notes attached are part of the individual financial statements.

Chairperson：Ku, Kang-Wei Manager：Ku, Kang-Wei Accounting Manager：Su, Chien-Tung

Note 2022 2021(Adjusted)

(Continued on next page)

Note 2022 2021(Adjusted)

CASH FLOWS IN FUNDRAISING ACTIVITIES

The notes attached are part of the individual financial statements.

Chairperson：Ku, Kang-Wei Manager：Ku, Kang-Wei Accounting Manager：Su, Chien-Tung

1. History and Organization

Based on the consolidation of resources to improve operating performance and competitiveness,

3. Applicability of newly issued& modified standards and interpretation

(1) Effect of the adoption of new issuances of or amendments to International Financial

New Standards, Interpretations And Amendments Effective Date By IASB

‧ Amendments to IAS 16, ‘Property, plant and equipment: January 1, 2022

‧ Amendments to IAS 37, ‘Onerous contracts—cost of January 1, 2022

‧ Annual improvements to IFRS Standards 2018–2020 January 1, 2022

New Standards, Interpretations And Amendments Effective Date By IASB

‧ Amendments to IAS 8, ‘Definition of accounting estimates’ January 1, 2023

New standards, interpretations and amendments issued by International Accounting Standards

New Standards, Interpretations And Amendments Effective Date By IASB

‧ Amendments to IFRS 16, ‘Lease liability in a sale and January 1, 2024

‧ IFRS 17, ‘Insurance contracts’ January 1, 2023

‧ Amendments to IFRS 17, 'Insurance contracts' January 1, 2023

‧ Amendment to IFRS 17, 'Initial application of IFRS 17 January 1, 2023

‧ Amendments to IAS 1, ‘Classification of liabilities as January 1, 2024

‧ Amendments to IAS 1, ‘Non-current liabilities with January 1, 2024

(1) Compliance statement

(2) Basis of preparation

(3) Foreign currency translation

A. Foreign currency transactions and balances

B. Translation of foreign operations

(4) Classification of current and non-current items

(5) Cash equivalents

(6) Accounts and notes receivable

(7) Impairment of financial assets

(8) Derecognition of financial assets

(10) Investments accounted for using equity method / subsidiaries or associates

E. The Company’s share of its associates’ post-acquisition profits or losses is recognized in

(11) Property, plant and equipment

Office equipment: 3~4 years

(12) Leasing arrangements (lessee)－right-of-use assets/ lease liabilities

(a) The amount of the initial measurement of lease liability;

(13) Intangible assets

(14) Impairment of non-financial assets

C. For the purpose of impairment testing, goodwill acquired in a business combination is

Borrowings comprise short-term bank borrowings. Borrowings are recognized initially at

(16) Accounts payable

A. Accounts payable are liabilities for purchases of services.

(17) Derecognition of financial liabilities