Item 2. Properties
ITEM 2. Properties
We currently lease three properties
for our Taiwan R&D center, which covers an area of 450 square meters. The lease of Haihuan Street expires on May 29, 2026; the
lease of 689-86 Xiaodong Street expires on July 14, 2027; and the lease of 689-85 Xiaodong Road expires on July 14, 2026. Pursuant to
an equipment use contract with the adjacent TSRI, Taiwan R&D center can use the TSRI’s various semiconductor manufacturing equipment
manufacturing and precision micro-nano processing equipment to carry out concept presentation and cross-scale composite structure of each
R&D process, chip technology research and development, rapid chip trial production, material testing, and thin film production. We
believe that we will be able to obtain adequate facilities, principally through leasing, to accommodate our future expansion.
Shanghai office is located
in Shanghai Bay Valley Science and Technology Park (“Bay Valley”), adjacent to Shanghai Pulmonary Hospital and Fudan University
Life Research Institute. The leased area is 1267.98 square meters, and the lease term is from October 16, 2024 to October 15, 2025.
The geographic location of
our Taiwan R&D center provides access to supply of graduates from the local Chenggong University for R&D personnel. Its vicinity
to Taiwan Semiconductor Research Center, Yongkang Industrial Zone, and Chengda Hospital enables us to form a good research and development
ecosystem for biomedical testing of our devices and chips. The location also enables us to integrate nearby resources of the semiconductor
micro-manufacturing related facilities, precision processing industry community, hospital biological treatment and preservation facilities
and other resources required for our research and development process.
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