ASX ASE Technology Holding Co Ltd

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

1 ASE Technology Holding Co., Ltd. July 28, 2022 ASE Technology Holding Second Quarter 2022 Earnings Release

2 Safe Harbor Notice This presentation contains "forward - looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Although these forward - looking statements, which may include statements regarding our future results of operations, financial condition or business prospects, are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on these forward - looking statements, which apply only as of the date of this press release. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan” and similar expressions, as they relate to us, are intended to identify these forward - looking statements in this presentation. These forward - looking statements are necessarily estimates reflecting the best judgment of our senior management and our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied by the forward - looking statements for reasons including, among others, risks associated with cyclicality and market conditions in the semiconductor or electronic industry; changes in our regulatory environment, including our ability to comply with new or stricter environmental regulations and to resolve environmental liabilities; demand for the outsourced semiconductor packaging, testing and electronic manufacturing services we offer and for such outsourced services generally; the highly competitive semiconductor or manufacturing industry we are involved in; our ability to introduce new technologies in order to remain competitive; international business activities; our business strategy; our future expansion plans and capital expenditures; the strained relationship between the Republic of China and the People’s Republic of China; general economic and political conditions; the recent shift in United States trade policies; possible disruptions in commercial activities caused by natural or human - induced disasters; fluctuations in foreign currency exchange rates; and other factors. For a discussion of these risks and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including the 2021 Annual Report on Form 20 - F filed on March 29, 2022.

3 1H22 Recap • 2Q22 and 1H22 performance ahead of expectation • 2Q22 ASE HoldCo revenues grew 27% year - over - year (all in USD terms); 1H22 revenues grew 28% year over year (all on the pro forma basis) • 2Q22 ASE ATM revenues grew 25% year - over - year; 1H22 revenues grew 25% year - over - year with 1H22 advanced packaging up 48% year - over - year • 1H22 ASE HoldCo automotive revenues grew 64% year - over - year; 1H22 ATM automotive revenues grew 54% year - over - year; expect momentum to continue into 2H22 • 1H22 ASE HoldCo operating margin improved 2.3 percentage points year - over - year, among which, 0.5 percentage points were from favorable currency • 1H22 ASE ATM operating margin increased 3.4 percentage points year - over - year, among which, 0.6 percentage points were from favorable currency Note: All numbers indicated are in USD terms. The year over year comparisons are stated on the pro forma basis, which excludes the disposed China sites from year 2021.

4 2022 Update • Our 2022 full year outlook is on track. • The overall market is undergoing an inventory correction with some sectors that are more aggressive than the others; however, some sectors remained constrained. With our diversified customer portfolio and manufacturing flexibility, we are seeing a solid 2H22 with quarter - over - quarter growth of our Holding Company revenues. • 2022 ATM revenues year - over - year growth to be 2x of the logic semiconductor industry with EMS also seeing solid top line growth. We expect further margin expansion of both our ATM and EMS businesses versus year 2021.

5 Structural improvement of efficiency and margin • For the past two years, we have made great strides in ASE - SPIL synergy in RD, operation streamlining, capacity planning, business consolidation, customer portfolio calibration, and procurement. • Advancements in automation have improved ASE’s manufacturing efficiency, cost structure, and response time to high volume and high reliability business. • Increasing demand in multi - die co - packaging is adding to the complexity of ATM knowhow, and therefore ASE’s value in the supply chain. • With improved efficiency and cost structure, we currently see a mid - single digit structural improvement in margin leading to higher peaks and shallower troughs in future cycles .

6 Business Outlook • For next year, it's too early to comment on the macro environment and potential end market demand shifts; however, the general perception is seasonality will resume in Q1 2023. • We believe backend capacity is in a healthy position. Incremental backend capacity added is relatively low when compared with that of the frontend and, especially considering, backend investments are needed for technology migration (density, multi - die) in addition to volume expansion. • We are seeing increasing resource allocations needed for NPI's after more than 2 years of Covid - lock down. The NPI trend is setting our direction for future capacity planning, equipment upgrade, automation, and technology roadmap. • We are optimistic that ASE’s capacity utilization will stay at a higher level given our customer engagement, LTA, technology and automation leadership, manufacturing scale, and relevance to all NPIs .

7 Consolidated Statements of Income Quarterly Comparison (unaudited) (NT$ Million) Q2 / 2022 % Q1 / 2022 % Q2/ 2021 % QoQ YoY Q2 / 2021 % YoY Net Revenues: ATM 93,355 58.2% 82,355 57.0% 77,160 60.8% 13% 21% 70,919 58.8% 32% EMS 66,213 41.3% 61,163 42.4% 49,147 38.7% 8% 35% 49,147 40.7% 35% Others 871 0.5% 873 0.6% 619 0.5% 0% 41% 619 0.5% 41% Total Net Revenues 160,439 100.0% 144,391 100.0% 126,926 100.0% 11% 26% 120,685 100.0% 33% Gross Profit 34,388 21.4% 28,471 19.7% 24,804 19.5% 21% 39% 23,470 19.4% 47% Operating Income (Loss) 20,606 12.8% 16,113 11.2% 13,174 10.4% 28% 56% 12,394 10.3% 66% Pretax Income (Loss) 21,136 13.2% 16,663 11.5% 13,344 10.5% 27% 58% 12,440 10.3% 70% Income Tax Benefit (Expense) (4,479) -2.8% (3,278) -2.3% (2,648) -2.1% (2,543) -2.1% Non-controlling Interest (669) -0.4% (478) -0.3% (358) -0.3% (358) -0.3% Net Income Attributable to Shareholders of the Parent 15,988 10.0% 12,907 8.9% 10,338 8.1% 24% 55% 9,539 7.9% 68% Basic EPS 3.69 3.01 2.40 23% 54% 2.21 67% Diluted EPS 3.61 2.92 2.30 24% 57% 2.12 70% Additional Commentary From Management 1&2 : Gross Profit excl. PPA expenses 35,306 22.0% 29,391 20.4% 25,738 20.3% 20% 37% 24,404 20.2% 45% Operating Profit excl. PPA expenses 21,786 13.6% 17,295 12.0% 14,372 11.3% 26% 52% 13,592 11.3% 60% Net income attributable to shareholders of the parent excl. PPA expenses 17,161 10.7% 14,070 9.7% 11,510 9.1% 22% 49% 10,711 8.9% 60% Basic EPS excl. PPA expenses 3.97 3.28 2.67 21% 49% 2.48 60% Pro Forma Basis* 1 : PPA expenses are the P&L impacts from the accounting treatment of purchase price allocation in relation to the ASE/SPIL trans act ion, which resulted in increased asset values from purchase price premiums in PP&E, intangibles and right - of - use assets. The PPA expenses excluded are related to depreciation, amortization and other expenses $1.13bn in 2Q22, 1Q22 and 2Q21. 2 : PPA expenses are the P&L impacts from the accounting treatment of purchase price allocation in relation to the USI/ Asteelflash transaction, which resulted in increased asset and liability values from purchase price premiums in PP&E, intangibles, right - of - use assets and deferred tax liability. The PPA expenses excluded are related to depreciation, amortization, other expenses and income tax benefit $ 0.04bn in2Q22, $0.03bn in 1Q22 and $ 0.04bn in 2Q21. *: We are providing you with the unaudited pro forma financial information to assist you in your analysis of the financial aspects of our disposal of the China Sites in 4Q21. The unaudited pro forma financial information was based on our historical financial statements and the historical financial statements of our China sites, given effect to the disposal as if it had occurred for the preceding quarter of 2Q21.

8 Consolidated Operations (unaudited) 65,557 70,919 82,019 83,805 82,355 93,355 47,684 49,147 61,116 81,541 61,163 66,213 602 619 758 812 873 871 18.3% 19.4% 20.3% 18.9% 19.7% 21.4% 9.1% 10.3% 12.1% 11.3% 11.2% 12.8% 0% 10% 20% 30% 40% 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 Q1/21* Q2/21* Q3/21* Q4/21* Q1/22 Q2/22 NT$ Million ATM Revenue EMS Revenue Other Revenue Gross Margin Operating Margin *: We are providing you with the unaudited pro forma financial information to assist you in your analysis of the financial aspects of our disposal of the China sites in 4Q21. The unaudited pro forma financial information was based on our historical financi al statements and the historical financial statements of our China sites, given effect to the disposal as if it had occurred for the preceding quarters from 1Q21 to 4Q21.

9 ATM Statements of Income Quarterly Comparison (unaudited) (NT$ Million) Q2 / 2022 % Q1 / 2022 % Q2 / 2021 % QoQ YoY Q2 / 2021 % YoY Net Revenues: Packaging 79,894 84.1% 69,921 83.2% 65,936 83.5% 14% 21% 60,716 83.5% 32% Testing 13,760 14.5% 12,583 15.0% 11,677 14.8% 9% 18% 10,656 14.6% 29% Direct Material 1,288 1.3% 1,479 1.8% 1,372 1.7% -13% -6% 1,372 1.9% -6% Others 56 0.1% 42 0.0% 3 0.0% 33% 1767% 3 0.0% 1767% Total Net Revenues 94,998 100.0% 84,025 100.0% 78,988 100.0% 13% 20% 72,747 100.0% 31% Gross Profit 27,768 29.2% 23,101 27.5% 20,210 25.6% 20% 37% 18,876 25.9% 47% Operating Income (Loss) 17,995 18.9% 14,012 16.7% 11,827 15.0% 28% 52% 11,048 15.2% 63% Additional Commentary From Management 1 : Gross Profit excl. PPA expenses 28,645 30.2% 23,979 28.5% 21,091 26.7% 19% 36% 19,757 27.2% 45% Operating Profit excl. PPA expenses 19,122 20.1% 15,140 18.0% 12,959 16.4% 26% 48% 12,180 16.7% 57% Pro Forma Basis* 1 : PPA expenses are the P&L impacts from the accounting treatment of purchase price allocation in relation to the ASE/SPIL transaction, which resulted in increased asset values from purchase price premiums in PP&E, intangibles and right - of - use assets. The PPA expenses excluded are related to depreciation, amortization and other expenses $1.13bn in the quarters of 2Q22, 1Q22 and 2Q21. *: We are providing you with the unaudited pro forma financial information to assist you in your analysis of the financial aspects of our disposal of the China sites in 4Q21. The unaudited pro forma financial information was based on our historical financial statements and the historical financial statements of our China sites, given effect to the disposal as if it had occurred for the preceding quarter of 2Q21.

10 ATM Operations (unaudited) 16,989 18,876 23,181 24,301 23,101 27,768 68,139 72,747 83,321 85,180 84,025 94,998 24.9% 25.9% 27.8% 28.5% 27.5% 29.2% 0% 10% 20% 30% 40% 50% 0 20,000 40,000 60,000 80,000 100,000 Q1/21* Q2/21* Q3/21* Q4/21* Q1/22 Q2/22 NT$ Million Gross Profit Gross Margin Revenue *: We are providing you with the unaudited pro forma financial information to assist you in your analysis of the financial aspects of our disposal of the China sites in 4Q21. The unaudited pro forma financial information was based on our historical financi al statements and the historical financial statements of our China sites, given effect to the disposal as if it had occurred for the preceding quarters from 1Q21 to 4Q21.

11 ATM Revenue by Application (unaudited) 53% 52% 53% 53% 52% 52% 14% 15% 15% 16% 16% 16% 33% 33% 32% 31% 32% 32% 0% 20% 40% 60% 80% 100% Q1/21* Q2/21* Q3/21* Q4/21* Q1/22 Q2/22 Communication Computing Automotive, Consumer & Others *: We are providing you with the unaudited pro forma financial information to assist you in your analysis of the financial aspects of our disposal of the China sites in 4Q21. The unaudited pro forma financial information was based on our historical financi al statements and the historical financial statements of our China sites, given effect to the disposal as if it had occurred for the preceding quarters from 1Q21 to 4Q21.

12 37% 36% 39% 40% 43% 43% 38% 40% 37% 36% 34% 35% 8% 7% 7% 7% 6% 6% 15% 15% 15% 15% 15% 15% 2% 2% 2% 2% 2% 1% 0% 20% 40% 60% 80% 100% Q1/21* Q2/21* Q3/21* Q4/21* Q1/22 Q2/22 Material Testing Others Wirebonding Bump/FC/WLP /SiP ATM Revenue by Type (unaudited) *: We are providing you with the unaudited pro forma financial information to assist you in your analysis of the financial aspects of our disposal of the China sites in 4Q21. The unaudited pro forma financial information was based on our historical financi al statements and the historical financial statements of our China sites, given effect to the disposal as if it had occurred for the preceding quarters from 1Q21 to 4Q21.

13 EMS Operations Quarterly Comparison & Revenue by Application (unaudited ) (NT$ Million) Q2 / 2022 % Q1 / 2022 % Q2/ 2021 % QoQ YoY EMS Net Revenues 66,218 100.0% 61,166 100.0% 49,154 100.0% 8% 35% Gross Profit 6,650 10.0% 5,380 8.8% 4,476 9.1% 24% 49% Operating Income (Loss) 2,667 4.0% 2,200 3.6% 1,273 2.6% 21% 110% 39% 39% 38% 38% 40% 35% 7% 10% 10% 8% 10% 13% 33% 28% 33% 38% 29% 28% 14% 16% 12% 11% 13% 15% 5% 5% 5% 4% 6% 8% 2% 2% 2% 1% 2% 1% 0% 20% 40% 60% 80% 100% Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Communication Computing Consumer Industrial Automotive Others

14 Key Balance Sheet Items & Indices (unaudited) (NT$ Million) Jun 30, 2022 Mar 31, 2022 Cash and cash equivalent $72,846 $84,426 Financial assets - current 6,136 4,698 Financial assets - non current & investments - equity method 22,356 23,202 Property, plant & equipment 254,784 247,541 Total assets 713,079 696,148 Short-term loans 60,722 49,990 Current portion of bonds payable 8,204 8,203 Current portion of long-term loans 3,631 2,622 Bonds payable 40,923 40,521 Long-term loans & long-term bills payable 97,367 116,386 Total interest bearing debts 218,309 225,139 Total liabilities 434,768 432,388 Total equity (Including non-controlling interest) 278,311 263,760 Quarterly EBITDA 35,211 30,661 Current ratio 1.18 1.22 Net debt to equity ratio 0.50 0.52

15 Equipment Capital Expenditure vs. EBITDA (unaudited) 432 567 425 437 443 515 830 916 1,108 1,174 1,100 1,203 0 200 400 600 800 1,000 1,200 1,400 Q1/21* Q2/21* Q3/21* Q4/21* Q1/22 Q2/22 US$ Million Capex EBITDA *: We are providing you with the unaudited pro forma financial information to assist you in your analysis of the financial aspects of our disposal of the China sites in 4Q21. The unaudited pro forma financial information was based on our historical financial statements and the historical financial statements of our China sites, given effect to the disposal as if it had occurred for the preceding quarters from 1Q21 to 4Q21.

16 Third Quarter 2022 Outlook* Based on our current business outlook and exchange rate assumptions, management projects overall performance for the third quarter of 2022 to be as follows: • In US dollar terms, our ATM 3rd quarter 2022 business levels should be slightly above 2nd quarter 2022 levels ​; • On a pro forma basis, our ATM 3rd quarter 2022 gross margin should be similar with our 4th quarter 2021 gross margin ; • In US dollar terms, our EMS 3rd quarter 2022 business sequential growth should be similar with same period last year ; • ​Our EMS 3rd quarter 2022 operating margin should be similar to 2nd quarter 2022 levels. *: Due to the impact of the COVID - 19 outbreak, our outlook continues to be subject to a higher degree of risk. The information provided is done so as a reference of our current view as of the date of this presentation. Our business, financial condition an d results of operations are of greater adverse risk; and, as a result, there may be a higher likelihood of material variances b etw een our expected and actual results .

17 www.aseglobal.com Thank You

18 Appendix 1 Consolidated Statements of Comprehensive Income Pro Forma Historical Data* (unaudited) (NT$ Million) Q1/2021 % Q2/2021 % Q3/2021 % Q4/2021 % FY/2021 % Net Revenues: ATM 65,557 57.6% 70,919 58.8% 82,019 57.0% 83,805 50.4% 302,300 55.5% EMS 47,684 41.9% 49,147 40.7% 61,116 42.5% 81,541 49.1% 239,488 44.0% Others 602 0.5% 619 0.5% 758 0.5% 812 0.5% 2,791 0.5% Total Net Revenues 113,843 100.0% 120,685 100.0% 143,893 100.0% 166,158 100.0% 544,579 100.0% Gross Profit 20,868 18.3% 23,470 19.4% 29,251 20.3% 31,454 18.9% 105,043 19.3% Operating Income (Loss) 10,405 9.1% 12,394 10.3% 17,463 12.1% 18,776 11.3% 59,038 10.8% Pretax Income (Loss) 10,625 9.3% 12,440 10.3% 17,429 12.1% 18,873 11.4% 59,368 10.9% Income Tax Benefit (Expense) (2,392) -2.1% (2,543) -2.1% (3,505) -2.4% (3,586) -2.2% (12,027) -2.2% Non-controlling Interest (252) -0.2% (358) -0.3% (668) -0.5% (828) -0.5% (2,106) -0.4% Net Income Attributable to Shareholders of the Parent 7,981 7.0% 9,539 7.9% 13,256 9.2% 14,459 8.7% 45,235 8.3% Basic EPS 1.85 2.21 3.07 3.37 10.51 Diluted EPS 1.80 2.12 2.99 3.21 10.12 FX (NTD/USD) 28.30 28.03 27.79 27.78 27.98 *: We are providing you with the unaudited pro forma financial information to assist you in your analysis of the financial aspects of our disposal of the China sites in 4Q21. The unaudited pro forma financial information was based on our historical financial statements and the historical financial statements of our China sites, given effect to the disposal as if it had occurred for the preceding quarters from 1Q21 to 4Q21 and full year 2021 .

19 Appendix 2 ATM Statements of Comprehensive Income Pro Forma Historical Data* (unaudited) (NT$ Million) Q1/2021 % Q2/2021 % Q3/2021 % Q4/2021 % FY/2021 % Net Revenues: Packaging 56,844 83.4% 60,716 83.5% 69,512 83.4% 70,942 83.3% 258,014 83.4% Testing 10,204 15.0% 10,656 14.6% 12,354 14.8% 12,700 14.9% 45,914 14.9% Direct Material 1,044 1.5% 1,372 1.9% 1,429 1.7% 1,502 1.8% 5,347 1.7% Others 47 0.1% 3 0.0% 26 0.0% 36 0.0% 112 0.0% Total Net Revenues 68,139 100.0% 72,747 100.0% 83,321 100.0% 85,180 100.0% 309,387 100.0% Gross Profit 16,989 24.9% 18,876 25.9% 23,181 27.8% 24,301 28.5% 83,346 26.9% Operating Income (Loss) 9,415 13.8% 11,048 15.2% 14,667 17.6% 15,216 17.9% 50,345 16.3% FX (NTD/USD) 28.30 28.03 27.79 27.78 27.98 *: We are providing you with the unaudited pro forma financial information to assist you in your analysis of the financial aspects of our disposal of the China sites in 4Q21. The unaudited pro forma financial information was based on our historical financial statements and the historical financial statements of our China sites, given effect to the disposal as if it had occurred for the preceding quarters from 1Q21 to 4Q21 and full year 2021.

20 Appendix 3 Consolidated Statements of Comprehensive Income ( unaudited) (NT$ Thousand) Q1/2021 Q2/2021 Q3/2021 Q4/2021 FY/2021 Q1/2022 Q2/2022 Revenues 119,469,784 126,926,346 150,664,816 172,936,186 569,997,132 144,390,827 160,439,019 COGS 97,583,415 102,122,197 119,880,851 140,041,892 459,628,355 115,919,599 126,051,460 PPA under COGS 1,024,525 933,946 931,880 925,188 3,815,539 920,316 918,661 Gross profit 21,886,369 24,804,149 30,783,965 32,894,294 110,368,777 28,471,228 34,387,559 Gross profit excl. PPA 22,910,894 25,738,095 31,715,845 33,819,482 114,184,316 29,391,544 35,306,220 OPEX 10,977,703 11,630,191 12,357,669 13,278,865 48,244,428 12,358,395 13,782,006 PPA under OPEX 269,154 263,543 262,097 261,699 1,056,493 261,477 261,428 Operating income 10,908,666 13,173,958 18,426,296 19,615,429 62,124,349 16,112,833 20,605,553 Operating income excl. PPA 12,202,345 14,371,447 19,620,273 20,802,316 66,996,381 17,294,626 21,785,642 Non Op gain/(loss) 271,633 170,726 48,235 17,720,464 18,211,058 549,787 529,795 PPA under Non Op gain/ (loss) 43,225 2,813 39,929 40,799 126,766 3,637 20,922 Non Op gain/ (loss) excl. PPA 314,858 173,539 88,164 17,761,263 18,337,824 553,424 550,717 Pretax income 11,180,299 13,344,684 18,474,530 37,335,892 80,335,405 16,662,621 21,135,348 PPA under Pretax income 1,336,904 1,200,302 1,233,906 1,227,686 4,998,798 1,185,430 1,201,011 Pretax income excl. PPA 12,517,203 14,544,986 19,708,436 38,563,578 85,334,203 17,848,051 22,336,359 Tax expenses 2,451,096 2,648,128 3,630,545 5,592,057 14,321,826 3,277,505 4,478,602 PPA under Tax expense (38,471) (16,250) (20,612) (21,430) (96,773) (13,081) (16,957) Tax expense excl. PPA 2,489,567 2,664,378 3,651,157 5,613,487 14,418,599 3,290,586 4,495,559 Non-controlling interest 252,076 358,136 667,705 827,984 2,105,901 477,834 668,595 PPA under Non-controlling interest 30,714 12,788 15,661 16,695 75,858 9,074 10,913 Non-controlling interest excl. PPA 282,790 370,924 683,366 844,679 2,181,759 486,908 679,508 Net income attributable to shareholders of the parent 8,477,127 10,338,420 14,176,280 30,915,851 63,907,678 12,907,282 15,988,151 PPA expenses under Net income attributable to shareholders of the 1,267,719 1,171,264 1,197,633 1,189,561 4,826,167 1,163,275 1,173,141 Net income attributable to shareholders of the parent excl. PPA 9,744,846 11,509,684 15,373,913 32,105,412 68,733,845 14,070,557 17,161,292 Total PPA expenses 1,298,433 1,184,052 1,213,294 1,206,256 4,902,025 1,172,349 1,184,054 Basic EPS (NT$) 1.97 2.40 3.29 7.20 14.84 3.01 3.69 Basic EPS (NT$) excl. PPA 2.26 2.67 3.56 7.48 15.96 3.28 3.97 Diluted EPS (NT$) 1.92 2.30 3.20 6.99 14.40 2.92 3.61 Diluted EPS (NT$) excl. PPA 2.21 2.57 3.47 7.27 15.50 3.19 3.88

21 Consolidated Operations (unaudited) 49,615 54,436 61,703 61,826 59,622 62,371 64,693 63,991 65,557 70,919 82,019 83,805 82,355 93,355 34,947 31,524 50,584 48,734 32,721 39,703 53,126 79,141 47,684 49,147 61,116 81,541 61,163 66,213 261 467 533 519 486 533 573 601 602 619 758 812 873 871 12.6% 15.2% 16.0% 16.9% 16.5% 17.3% 15.9% 15.5% 18.3% 19.4% 20.3% 18.9% 19.7% 21.4% 2.4% 4.4% 6.9% 7.3% 6.1% 7.7% 7.4% 7.5% 9.1% 10.3% 12.1% 11.3% 11.2% 12.8% 0% 5% 10% 15% 20% 25% 30% 35% 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21* Q2/21* Q3/21* Q4/21* Q1/22 Q2/22 NT$ Million ATM Revenue EMS Revenue Other Revenue Gross Margin Operating Margin *: We are providing you with the unaudited pro forma financial information to assist you in your analysis of the financial aspects of our disposal of the China sites in 4Q21. The unaudited pro forma financial information was based on our historical financi al statements and the historical financial statements of our China sites, given effect to the disposal as if it had occurred for the preceding quarters from 1Q21 to 4Q21.