quality control systems. Of the total 32 audit firms, 53 percent received the Good to Very Good evaluation results – an improvement from 48 percent in 2019 and from 51 percent in 2020. In addition, seven

Exchange Act in order to ensure that the enforcement of the law and the enhancement of the protection of investors in the capital market will be more effective and consistent with the suggestions received

from the first inspection cycle (2010-2012) to 2019, the first year of the 4th inspection cycle (2019-2021), showed promising overall improvement despite the SEC’s more intensive inspection in several

this lower gross margin in 2019. However, The company believes that this investment would be a key factor for competitiveness enhancement in the long run. Selling and administrative expenses Selling and

individual auditors’ engagement. The overall results of the inspection conducted on 13 audit firms in 2016 during the third cycle, which is between 2016 to 2018, indicated continuous improvement from the

firms demonstrated an improvement vis-à-vis the results from the previous inspection cycle. Such improvement was undoubtedly enabled by the formulation of audit firms’ root cause analysis process and

for detecting potential data risk, which can thus be managed more efficiently in a timely fashion. - Preparation, improvement and enhancement of advanced threat prevention to ensure that digital and

similar form of fundraising and benefit generation. In essence, the amendments support enhancement of digital token offering supervision with proper investor protection mechanisms and a focus on fair

the development and enhancement of fundraising regulations, emphasizing the mutual assistance in screening companies offering securities for sale to the public and applying for listing on the stock

% in previous year to 26.43% due to change in product sales mix of general merchandise and the enhancement of directly sourced private-label goods’ profit margin, as well as the continuous efficiency