29973687 2025-01-01 2025-12-31 29973687 2025-01-01 2025-12-31 2 29973687 2025-01-01 2025-12-31 memberOfBoardIdentifier_executive_board_1 29973687 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_1 29973687 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_2 29973687 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_3 29973687 2025-01-01 2025-12-31 1 29973687 2024-01-01 2024-12-31 29973687 2025-12-31 29973687 2024-12-31 29973687 2025-01-01 fsa:ContributedCapitalMember 29973687 2025-01-01 fsa:RetainedEarningsMember 29973687 2025-01-01 29973687 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 29973687 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 29973687 2025-12-31 fsa:ContributedCapitalMember 29973687 2025-12-31 fsa:RetainedEarningsMember 29973687 2025-01-01 fsa:FixturesFittingsToolsAndEquipmentMember 29973687 2025-01-01 2025-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 29973687 2025-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 29973687 2025-01-01 fsa:DepositsLongtermInvestmentsAndReceivablesMember 29973687 2025-12-31 fsa:DepositsLongtermInvestmentsAndReceivablesMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2025-01-01 2024-01-01 2025-12-31 2024-12-31 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Regnskabsklasse B Revisionspåtegning true 2026-07-05 Tarakaram Choudary Guntupalli The Executive Board and Board of Directors have today considered and adopted the Annual Report of Radiocomp ApS for the financial year 1 January - 31 December 2025. The Annual Report is prepared in accordance with the Danish Financial Statements Act. In our opinion the Financial Statements give a true and fair view of the financial position at 31 December 2025 of the Company and of the results of the Company operations for 2025. We recommend that the Annual Report be adopted at the Annual General Meeting. Hillerød 2026-07-05 Yeong-Chin Wu CEO Chi-Cha Hsieh Yeong-Chin Wu Tarakaram Choudary Guntupalli To the shareholder of Radiocomp ApS Opinion In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2025 and of the results of the Company’s operations for the financial year 1 January - 31 December 2025 in accordance with the Danish Financial Statements Act.We have audited the Financial Statements of Radiocomp ApS for the financial year 1 January - 31 December 2025, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (”the Financial Statements”). Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the ”Auditor’s responsibilities for the audit of the Financial Statements” section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. We draw attention to Note 1. As described therein, the Company is wholly owned by, and economically dependent on, its ultimate parent company Microelectronics Technology Inc. ("MTI"), Hsinchu, Taiwan, which is the Company's sole customer and towards which the Company has a receivable of DKK 13,357,477 at 31 December 2025. The consolidated financial statements of MTI disclose a material uncertainty about the MTI Group's ability to continue as a going concern, arising from an accumulated deficit exceeding half of the Group's paid-in capital and a strained liquidity position. The Company's ability to continue as a going concern is therefore dependent on the continued financial soundness of the ultimate parent company MTI, the recoverability of the intra-group receivable, and the continuation of the future business relationship with MTI as the Company's sole customer.These conditions indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.In preparing the 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 in preparing the Financial Statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark 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 Financial Statements.As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:Identify and assess the risks of material misstatement of the 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.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.Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.Conclude on the appropriateness of Management’s use of the going concern basis of accounting in preparing the Financial Statements and, based on the audit evidence obtained, whether a material uncertainty exists 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 auditor’s report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.Evaluate the overall presentation, structure and contents of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view.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. Hellerup 2026-07-05 PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab 33771231 Niels Henrik B. Mikkelsen Gösta Gauffin State Authorised Public Accountant State Authorised Public Accountant mne16675 mne45821 Radiocomp ApS Krakasvej 17 3400 Hillerød 29973687 Hillerød Strandvejen 44 2900 Hellerup Danske Bank Vesterbrogade 10 1620 København V 25399511 27195848 21107166 21593902 2828155 3773871 0 36463 1464190 1791612 78037 141503 1313387 548739 228840 1384376 311961 237364 -83121 1147012 -83121 1147012 3455096 5894405 3455096 5894405 255490 255490 255490 255490 3710586 6149895 13357477 11745515 266510 265463 577102 384952 494885 324669 14695974 12720599 1388084 1167188 16084058 13887787 19794644 20037682 1750912 1750912 14661996 14745117 16412908 16496029 1337904 1145943 1337904 1145943 98372 47353 36131 133539 101031 529227 1808298 1685591 2043832 2395710 3381736 3541653 19794644 20037682 1750912 14745117 16496029 0 -83121 -83121 1750912 14661996 16412908 The Company is a wholly-owned subsidiary of Microelectronics Technology Inc. ("MTI"), Hsinchu, Taiwan, which is the Company's ultimate parent company and also its sole customer. At 31 December 2025 the Company has a receivable from group enterprises of DKK 13,357,477, substantially all of which relates to MTI, and the Company is dependent on the continuation of the business relationship with MTI for its future revenue.The consolidated financial statements of the ultimate parent company MTI disclose a material uncertainty regarding the MTI Group's ability to continue as a going concern. As of 31 December 2025, the MTI Group had an accumulated deficit of NT$1,947,149 thousand, which exceeds half of its paid-in capital, and reported a debt ratio of 96% and a current ratio of 72%. MTI's management has presented an improvement plan for future operations — comprising operational transformation, expenditure curtailment, new product development and the seeking of external funding — and, on this basis, MTI concludes that the going concern basis of accounting remains appropriate.The Company's ability to continue as a going concern is dependent upon the continued financial soundness of MTI, the recoverability of the intra-group receivable, and the continued availability of the business relationship with, and orders from, MTI as the Company's sole customer.Based on the material uncertainty disclosed in respect of the MTI Group and the Company's dependence on MTI both as debtor and as sole customer, a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Management has concluded that the going concern basis of accounting remains appropriate, and the Financial Statements have been prepared on that basis. The Company has a receivable from group enterprises of DKK 13,357,477 at 31 December 2025, which relates substantially in full to the ultimate parent company, Microelectronics Technology Inc. ("MTI"), Hsinchu, Taiwan. Receivables are measured at the lower of amortised cost and net realisable value, corresponding to nominal value less provisions for expected losses. The recoverability of this receivable is dependent on the financial position of MTI. As described in Note 1 (Going concern), the consolidated financial statements of MTI disclose a material uncertainty about the MTI Group's ability to continue as a going concern, arising from an accumulated deficit exceeding half of the Group's paid-in capital and a strained liquidity position (a debt ratio of 96% and a current ratio of 72% as of 31 December 2025). In assessing the net realisable value of the receivable, Management has taken into account MTI's improvement plan for future operations — comprising operational transformation, expenditure curtailment, new product development and the seeking of external funding — as well as the continued business relationship between the Company and MTI. On this basis, Management has concluded that the receivable is recoverable and that no provision for impairment is required at 31 December 2025. However, given the material uncertainty regarding the MTI Group's ability to continue as a going concern, there is a corresponding uncertainty relating to the recognition and measurement of the receivable from group enterprises. Should the financial position of MTI deteriorate, or should the going concern assumption for the MTI Group prove not to be appropriate, the receivable may not be recoverable in full, and a material impairment loss may be required. The carrying amount of DKK 13,357,477 represents the maximum exposure to this measurement uncertainty and corresponds to approximately 67% of the Company's total assets and 81% of the Company's equity at 31 December 2025. Radiocomp is an innovative technology company that develops and delivers industry-leading remote radio heads (RRH) for next generation mobile telecommunication networks. Radiocomp is owned by MTI Taiwan. Radiocomp also markets and sells intellectual property (IP). A RRH is a fiber connected radio that enables new, cost efficient wireless infrastructure architectures. RRH among others support the WiMAX and LTE standards, which enable wireless transmission of significant amounts of data.The Radiocomp team of managers and engineers represent the highest level of RRH design competence and experience available within the mobile industry today and have delivered IP-cores, RRH’s and sub-system developments to leading OEM’s within wireless communication. 20233147 20701702 740229 759105 133790 133095 21107166 21593902 24 24 2828155 3773871 2828155 3773871 226776 536669 -192150 -299305 277335 0 311961 237364 22524766 388846 22913612 16630361 2828155 19458516 3455096 3-5 years 255490 255490 255490 The share capital consists of 1,750,912 shares of a nominal value of DKK 1. No shares carry any special rights.There have been no changes in the share capital during the last 5 years. On October 8 2010, the Company acquired 222,968 treasury shares, corresponding to 13%. The total payment for the shares amounted to DKK 7,012k, which has been transferred from retained earnings under equity. These shares have not been cancelled and are therefore held as treasury shares. The Company may choose to sell these shares at a later time. The shares have been acquired as part of the Company's strategy. Rental and lease obligationsLease obligations, period of non-terminability382,084556,170Other contingent liabilitiesAs security for debt to other credit institutions the Company has given pledge in DKK 350k (2024: DKK 350k) of cash at bank.There are no other financial obligations. Consolidated Financial StatementsThe Company is included in the Group Annual Report of the ultimate Parent Company:Microelectronics Technology Inc.Hsinchu, Taiwan The Annual Report of Radiocomp ApS for 2025 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B as well as selected rules applying to reporting class C.Certain amounts have been reclassified in the comparative figures for 2024 to ensure consistent presentation. These reclassifications have no impact on the statement of financial position, equity, or the statement of profit or loss. The accounting policies applied remain unchanged from last year.The Financial Statements for 2025 are presented in DKK. Recognition and measurementRevenues are recognised in the income statement as earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value or amortised cost are recognised. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the income statement, including depreciation, amortisation, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the income statement.Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset will flow to the Company, and the value of the asset can be measured reliably.Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow out of the Company, and the value of the liability can be measured reliably.Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below. Translation policiesTransactions in foreign currencies are translated at the exchange rates at the dates of transaction. Exchange differences arising due to differences between the transaction date rates and the rates at the dates of payment are recognised in financial income and expenses in the income statement.Receivables, payables and other monetary items in foreign currencies that have not been settled at the balance sheet date are translated at the exchange rates at the balance sheet date. Any differences between the exchange rates at the balance sheet date and the rates at the time when the receivable or the debt arose are recognised in financial income and expenses in the income statement.Fixed assets acquired in foreign currencies are measured at the transaction date rates. RevenueServices are recognised at the rate of completion of the service to which the contract relates.Revenue is measured at the consideration received and is recognised exclusive of VAT and net of discounts relating to sales. Other external expensesOther external expenses comprise for premises and office accommodation etc. Gross profitWith reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of revenue and other external expenses. Staff expenses comprise wages and salaries as well as payroll expenses. Amortisation, depreciation and impairment lossesAmortisation, depreciation and impairment losses comprise amortisation, depreciation and impairment of property, plant and equipment. Other operating income and expensesOther operating income and other operating expenses comprise items of a secondary nature to the main activities of the Company, including gains and losses on the sale of property, plant and equipment. Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. Tax on profit/loss for the yearTax for the year consists of current tax for the year and changes in deferred tax for the year. The tax attributable to the profit for the year is recognised in the income statement, whereas the tax attributable to equity transactions is recognised directly in equity. Tangible assets are measured at cost less accumulated depreciation and less any accumulated impairment losses.Cost comprises the cost of acquisition and expenses directly related to the acquisition up until the time when the asset is ready for use. Depreciation based on cost reduced by any residual value is calculated on a straight-line basis over the expected useful lives of the assets, which are:Other fixtures and fittings, tools and equipment3-5 years Depreciation period and residual value are reassessed annually. Impairment of fixed assetsThe carrying amounts of property, plant and equipment and investments are reviewed on an annual basis to determine whether there is any indication of impairment other than that expressed by depreciation.If so, the asset is written down to its lower recoverable amount. Other fixed asset investments consist of deposits. Receivables are measured in the balance sheet at the lower of amortised cost and net realisable value, which corresponds to nominal value less provisions for bad debts. PrepaymentsPrepayments comprise prepaid expenses concerning rent, insurance premiums, subscriptions and interest. Treasury sharesPurchase and sales prices for treasury shares are recognised directly in retained earnings under equity. A reduction of capital by cancellation of treasury shares reduces the share capital by an amount equal to the nominal value of the shares and increases retained earnings. Dividend on treasury shares is recognised directly in equity under retained earnings. Deferred tax assets and liabilitiesDeferred income tax is measured using the balance sheet liability method in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes on the basis of the intended use of the asset and settlement of the liability, respectively.Deferred tax assets are measured at the value at which the asset is expected to be realised, either by elimination in tax on future earnings or by set-off against deferred tax liabilities within the same legal tax entity.Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation at the balance sheet date when the deferred tax is expected to crystallise as current tax. Any changes in deferred tax due to changes to tax rates are recognised in the income statement or in equity if the deferred tax relates to items recognised in equity. Current tax receivables and liabilitiesCurrent tax liabilities and receivables are recognised in the balance sheet as the expected taxable income for the year adjusted for tax on taxable incomes for prior years and tax paid on account. Extra payments and repayment under the on-account taxation scheme are recognised in the income statement in financial income and expenses. Debts are measured at amortised cost, substantially corresponding to nominal value.