NOCERA, INC.

Nocera Inc. operates primarily through two business segments: Fish Trading and E-Commerce. The Fish Trading segment, managed by its wholly-owned subsidiary Nocera Inc. Taiwan Branch, focuses on trading fish, mainly eels, in Taiwan. This involves arranging for eel harvesting, inspecting products to meet customer specifications, and coordinating delivery. The E-Commerce segment, administered through the Xinca division, acts as an agent facilitating the sale of third-party products via live-streaming e-commerce platforms. The company earns commission revenue on a net basis and does not take control of the goods sold. In 2025, the company made significant equity investments in two e-commerce companies, one in the United States and one in France. Nocera Inc. also designs recirculation aquaculture systems (RAS) for fish farming and provides consulting services for the manufacture and installation of these land-based systems, which enable high-density fish production with minimal water usage. While the company discontinued the bulk production and sale of RAS units in late 2022, it continues to generate revenue from its RAS expertise. The Catering segment, previously administered through Meixin Institutional Food Development Co., a Taiwan corporation, was discontinued at the end of 2025 following the sale of the company's interest in that entity. In January 2026, the company allocated an aggregate $2.0 million of corporate funds to purchase Bitcoin for its corporate treasury.