
For the year ended December 31, 2019

	Land		Buildings and Improvements			Right-of-use Assets			Total
	NT$		NT$			NT$			NT$

Cost

Balance at January 1, 2019	$	35,965	$	8,409,790		$	6,891,947		$	15,337,702
Additions		—		2,532			—			2,532
Disposals		—		(1,843	)		—			(1,843	)
Reclassification		—		(490,130	)		(21,069	)		(511,199	)
Effects of foreign currency exchange differences		—		(209,980	)		(303,086	)		(513,066	)


Balance at December 31, 2019	$	35,965	$	7,710,369		$	6,567,792		$	14,314,126


Accumulated depreciation

Balance at January 1, 2019	$	—	$	707,376		$	292,722		$	1,000,098
Depreciation expenses		—		377,536			216,574			594,110
Disposals		—		(1,240	)		—			(1,240	)
Reclassification		—		(210,455	)		543			(209,912	)
Effects of foreign currency exchange differences		—		99,354			(22,355	)		76,999


Balance at December 31, 2019	$	—	$	972,571		$	487,484		$	1,460,055


Carrying amount at December 31, 2019	$	35,965	$	6,737,798		$	6,080,308		$	12,854,071


For the year ended December 31, 2020

	Land		Buildings and Improvements			Right-of-use Assets		Total
	NT$		NT$			NT$		NT$

Cost

Balance at January 1, 2020	$	35,965	$	7,710,369		$	6,567,792	$	14,314,126
Additions		—		6,352			—		6,352
Disposals		—		(1,902	)		—		(1,902	)
Reclassification		—		(3,884	)		46,201		42,317
Effects of foreign currency exchange differences		—		111,870			124,920		236,790


Balance at December 31, 2020	$	35,965	$	7,822,805		$	6,738,913	$	14,597,683


Accumulated depreciation

Balance at January 1, 2020	$	—	$	972,571		$	487,484	$	1,460,055
Depreciation expenses		—		353,048			209,212		562,260
Disposals		—		(1,293	)		—		(1,293	)
Reclassification		—		(1,498	)		10,617		9,119
Effects of foreign currency exchange differences		—		19,639			9,820		29,459


Balance at December 31, 2020	$	—	$	1,342,467		$	717,133	$	2,059,600


Carrying amount at December 31, 2020	$	35,965	$	6,480,338		$	6,021,780	$	12,538,083


For the year ended December 31, 2021

	Land			Buildings and Improvements			Right-of-use Assets			Total
	NT$			NT$			NT$			NT$

Cost

Balance at January 1, 2021	$	35,965		$	7,822,805		$	6,738,913		$	14,597,683
Disposals		—			(5,350	)		—			(5,350	)
Disposal of subsidiaries (Note 30)		—			(1,290,187	)		(87,412	)		(1,377,599	)
Reclassification (Note 12)		(393	)		9,818,133			3,398,139			13,215,879
Effects of foreign currency exchange differences		0			30,697			(6,962	)		23,735


Balance at December 31, 2021	$	35,572		$	16,376,098		$	10,042,678		$	26,454,348


Accumulated depreciation

Balance at January 1, 2021	$	—		$	1,342,467		$	717,133		$	2,059,600
Depreciation expenses		—			482,625			268,422			751,047
Disposals		—			(3,671	)		—			(3,671	)
Disposal of subsidiaries (Note 30)		—			(570,403	)		(19,946	)		(590,349	)
Reclassification		—			2,014,201			78,914			2,093,115
Effects of foreign currency exchange differences		—			6,927			(7,108	)		(181	)


Balance at December 31, 2021	$	—		$	3,272,146		$	1,037,415		$	4,309,561


Carrying amount at December 31, 2021	$	35,572		$	13,103,952		$	9,005,263		$	22,144,787


	Land			Buildings and Improvements			Right-of-use Assets			Total
	US$ (Note 4)			US$ (Note 4)			US$ (Note 4)			US$ (Note 4)

Cost

Balance at January 1, 2021	$	1,296		$	282,005		$	242,931		$	526,232
Disposals		—			(193	)		—			(193	)
Disposal of subsidiaries (Note 30)		—			(46,510	)		(3,151	)		(49,661	)
Reclassification (Note 12)		(14	)		353,934			122,500			476,420
Effects of foreign currency exchange differences		—			1,107			(251	)		856


Balance at December 31, 2021	$	1,282		$	590,343		$	362,029		$	953,654


Accumulated depreciation

Balance at January 1, 2021	$	—		$	48,395		$	25,852		$	74,247
Depreciation expenses		—			17,398			9,676			27,074
Disposals		—			(132	)		—			(132	)
Disposal of subsidiaries (Note 30)		—			(20,563	)		(719	)		(21,282	)
Reclassification		—			72,610			2,845			75,455
Effects of foreign currency exchange differences		—			250			(256	)		(6	)


Balance at December 31, 2021	$	—		$	117,958		$	37,398		$	155,356


Carrying amount at December 31, 2021	$	1,282		$	472,385		$	324,631		$	798,298

Right-of-use

assets included in investment properties were leasehold land located in Shanghai and were subleased under operating leases.

The abovementioned investment properties were leased out for 1 to 20 years, with an option to extend for an additional lease term. The lease contracts contain market review clauses in the event that the lessees exercise their options to extend. The lessees do not have bargain

purchase

options to acquire the investment properties at the expiry of the lease term.

In addition to fixed lease payments, some of the lease contracts also indicated that the lessees should make variable payments determined at a specific percentage of the excess of respective lessee’s monthly revenues over a specific amount.

The maturity analysis of lease payments receivable under operating leases of investment properties was as follows:


	December 31
	2020		2021
	NT$		NT$		US$ (Note 4)

Year 1	$	880,929	$	1,693,659	$	61,055
Year 2		688,123		1,405,450		50,666
Year 3		471,966		1,210,891		43,651
Year 4		383,307		1,019,498		36,752
Year 5		335,706		929,609		33,511
Year 6 onwards		664,259		3,241,525		116,854


	$	3,424,290	$	9,500,632	$	342,489

The investment properties were depreciated on a straight-line basis over the following useful lives:


Main buildings			10-40 years
Right-of-use assets			10-50 years

Because the market conditions

severely affected by

COVID-19

in 2020 and 2021, the Group agreed to provide unconditional rent

concessions

for some lease contracts. The rent concessions were accounted for as adjustments to related income over the remaining lease term. For the years ended December 31, 2020 and 2021, total amount from the rent concessions were NT$54,139 thousand and NT$3,865 thousand (US$139 thousand), respectively.

The fair value of the investment properties was measured using the market approach and the income approach based on level 3 inputs by independent professional appraisers. The significant unobservable inputs were discount rates. The fair value of the investment properties was as follows:


	December 31
	2020		2021
	NT$		NT$		US$ (Note 4)

Fair value	$	19,799,714	$	36,158,216	$	1,303,468

Refer to Note 36 for the carrying amount of the investment properties that had been pledged by the Group to secure borrowings.