PSC - AGM Information 2025 | FinancialReports.eu

Translation – In case of any discrepancy between the Chinese and English versions, the Chinese version shall prevail.

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Meeting Minutes of 2025 General Shareholders’ Meeting

Time and Date: 9:00 a.m., May 28, 2025.
Place: No. 8, Dongxing Rd., Taipei City, Taiwan R.O.C (Physical shareholders’ meeting)
Total outstanding shares: 1,455,831,343 shares. Total shares represented by shareholders present in person or by proxy: 971,949,635 shares (of which, 794,846,994 shares voted via electronic transmission). Percentage of shares held by shareholders present in person or by proxy: 66.76%.

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Chairman: LIN,KUAN-CHEN

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Record: LI,YI-TING
Directors present in person: LIN, KUAN-CHEN, CHEN, KUO-HUI, LEE, CHI-MING, LEE, SHU-FEN, JUANG, JING-YAU
Independent directors present in person: PAI, CHUN-NAN, SONG, YUNG-FONG, HORNG, YUAN-CHUAN, YANG, HUI-CHU

A. Chairman's Address (omitted)

B. Report Items

(1) 2024 Business Report

Explanation: The Company’s Business Report for 2024, please see Appendix I

(2) 2024 Audit Committee's Review Report

Explanation: For 2024 Audit Committee's Review Report, please see Appendix II

(3) 2024 Remuneration of Employees and Directors

Explanation:

1) Comply with the Ordinance No. 10402413890(June 11, 2015) and the Ordinance No. 10402427800(October 15, 2015) issued by the Ministry of Economic Affair.
2) In accordance with Article 23 of the Company’s bylaws, the Company will distribute compensation to employees and the Directors from pre-tax profits. Where the company has pre-tax profits, the total value of funds to be distributed among employees shall not be less than 1.6% of pre-tax profits; while the total value of funds to be distributed among the Directors shall not be more than 2% of pre-tax profits. If the company has losses carried forward, compensation should only be paid to employees and Directors after funds have been set aside as reserve for such losses.
3) The proposal of 2024 Remuneration of Employees and Directors has been approved by the 4th meeting of the 6th Remuneration Committee and the 5th meeting of 13th Board of Directors. It is proposed that a total of NT$100,003,933 (2%) to be distributed to employees and NT$100,003,933 (2%) to be distributed to Directors in accordance with the allocation rules of the 2nd meeting of the 13th Board of Directors. The above mentioned compensation will be in cash.

C. Items to be Adopted

■ Motion 1 (proposed by the Board of Directors)

Topic: Adoption of the 2024 business report, consolidated financial statements and financial statements Explanation

(1) The 2024 consolidated financial statements and the financial statements have already been successfully audited by CPA Lin, Se-Kai and CPA Kuo, Puo-Ju of PricewaterhouseCoopers Taiwan.
(2) The business report, the consolidated financial statements and the financial statements have been reviewed by the Audit Committee and approved by the fourth Meeting of the thirteen term Board of Directors (February 26, 2025)
(3) For the business report, the consolidated financial statements and the financial statements, please see Appendix I and Appendix III

Voting Result: 971,949,635 shares were represented at the time of voting.

927,343,040 shares voted for the proposal (of which 750,607,298 shares exercised via electronic transmission).

364,694 shares voted against the proposal (of which 364,694 shares exercised via electronic transmission).

44,241,901 shares abstain from voting (of which 43,875,002 shares exercised via electronic transmission), and 0 shares invalid from voting.

95.410606% of the shares were cast in favor of this proposal, which was more than 50% of the shares represented at the time of voting.

RESOLVED, that the above proposal was hereby approved as proposed.

■ Motion 2 (Proposed by the Board of Directors)

Topic: Adoption of the Proposal for the 2024 earnings distribution

Explanation:

(1) The proposal for distribution of 2024 earnings are prepared in accordance with regulations and the Company’s Articles of Incorporation. Please refer to the 2024 Earnings Distribution Proposal as Appendix IV.
(2) The distributable earnings in this period are NT$3,068,859,766. This number is based on the unappropriated earnings of NT$6,955,269 at the beginning of the period, increasing by $1,095,141 as a result of remeasurement of defined benefit plans and plus the after-tax net profit of NT$4,373,054,142 in 2024, and then setting aside legal reserve(10%) , special reserve(20%). Proposed cash dividend and stock dividend are $1,601,414,478 and $1,455,831,350 respectively, which is equivalent to $1.1 and $1 per share respectively. Upon the approval of Shareholders' Meeting, it is proposed that the Board of Directors be authorized to resolve the ex-dividend date and record date of a capital increase.
(3) In the event that the shares outstanding changes, it is proposed that the Board of Directors be authorized to adjust the amount per share to be distributed to shareholders based on the number of actual shares outstanding on the record date for distribution. Dividends of less than $1 shall be transferred to the Company's Employee Benefit Council.

Voting Result: 971,949,635 shares were represented at the time of voting.

928,017,169 shares voted for the proposal (of which 751,281,427 shares exercised via electronic transmission);

379,177 shares voted against the proposal (of which 379,177 shares exercised via electronic transmission).

43,553,289 shares abstain from voting (of which 43,186,390 shares exercised via electronic transmission), and 0 shares invalid from voting.

95.479964% of the shares were cast in favor of this proposal, which was more than 50% of the shares represented at the time of voting.

RESOLVED, that the above proposal was hereby approved as proposed.

D. Items for Discussion

■ Item 1 (Proposed by the Board of Directors)

Topic：Amendment to the Articles of Incorporation. Please proceed to discuss.

Explanation:

(1) In response to future business development and the need to issue new shares through capitalization of retained earnings, the company's capital will be increased to eighteen billion.

(2) According to Article 14, Paragraph 6 of the Securities and Exchange Act and relevant regulatory

directives, the total value of funds to be distributed among non-executive employees shall not be less than 1% of pre-tax profits.

(3) Please refer to the table as follows:

Comparison table of Amendments to” Articles of Incorporation”

Article		Amendment	Original Articles	Amendment Instructions
Article 5		The Company has New Taiwan Dollars Eighteen Billion Only, divided into1.8 billion shares at Ten New Taiwan Dollars par value for which the board of directors is authorized with full powers to issue in installments.	The Company has New Taiwan DollarsFifteen Billion Only, divided into1.5 billion shares at Ten New Taiwan Dollars par value for which the board of directors is authorized with full powers to issue in installments.	In response to future business development and the need to issue new shares through capitalization of retained earnings, the company's capital will be increased.
Article 23		In an effort to encourage employees and management, the Company will distribute compensation to employees and the Directors from pre-tax profits. Where the company has pre-tax profits, the total value of funds to be distributed among employees shall not be less than 1.6% of pre-tax profits,and the total value of funds to be distributed among non-executive employees shall not be less than 1% of pre-tax	In an effort to encourage employees and management, the Company will distribute compensation to employees and the Directors from pre-tax profits. Where the company has pre-tax profits, the total value of funds to be distributed among employees shall not be less than 1.6% of pre-tax profits; while the total value of funds to be distributed among the Directors shall not be more than 2% ofpre-taxprofits. If	According to Article 14, Paragraph 6 of the Securities and Exchange Act and relevant regulatory directives, listed companies shall specify in their articles of incorporation a certain percentage of annual earnings to be allocated for salary adjustments or compensation distribution for its non-executive employees.

		profits;while the total value of funds to be distributed among the Directors shall not be more than 2% of pre-tax profits. If the company has losses carried forward, compensation should only be paid to employees and Directors after funds have been set aside as a reserve for such losses. Employees’ compensation should be paid in the form of cash or company shares. A resolution regarding compensation to be distributed should be passed at a Board of Director’s meeting by a majority vote at a meeting attending by two-thirds or more of the Directors, after which the results should be reported to the shareholders. Only those individuals meeting the specific criteria of employees shall be considered employees for the purposes of the employees’ compensation distributions.		the company has losses carried forward, compensation should only be paid to employees and Directors after funds have been set aside as reserve for such losses. Employees’ compensation should be paid in the form of cash or company shares. A resolution regarding compensation to be distributed should be passed at a Board of Director’s meeting by a majority vote at a meeting attending by two-thirds or more of the Directors, after which the results should be reported to the shareholders. Only those individuals meeting the specific criteria of employees shall be considered employees for the purposes of the employees’ compensation distributions.
Article 26		These Articles were duly established on November 26, 1988 and the first amendment was approved on December 28, 1988; ------------; the thirty-third amendment on May 28, 2025.		These Articles were duly established on November 26, 1988 and the first amendment was approved on December 28, 1988; ------------; the thirty-second amendment on June 27, 2024.	1. Add the date of current amendment. 2. Delete the Thirty-second amendment effective date.

Voting Result: 971,949,635 shares were represented at the time of voting.

927,926,110 shares voted for the proposal (of which 751,190,368 shares exercised via electronic transmission);

461,480 shares voted against the proposal (of which 461,480 shares exercised via electronic transmission).

43,562,045 shares abstain from voting (of which 43,195,146 shares exercised via electronic transmission), and 0 shares invalid from voting.

95.470596% of the shares were cast in favor of this proposal, which was more than 50% of the shares represented at the time of voting.

RESOLVED, that the above proposal was hereby approved as proposed.

■ Item 2 (Proposed by the Board of Directors)

Topic：The proposal of issuance of new shares through capitalization of retained earnings.

Explanation:

(1) In order to strengthen the Company’s operating capital position, it is proposed to distribute stock dividend NT$1,455,831,350 from the 2024 earnings, with the issuance of 145,583,135 new shares, which is equivalent to a distribution of 100 new shares for every 1,000 shares held, with each share to have a par value of NT$10.
(2) For shareholders receiving less than 1 newly issued share, they should apply to the company’s shareholder services department within 5 days of the capital increase date of record, and shareholders who fail to register before that date will receive a discounted cash payment. Cash payments will be rounded down to the nearest NT$1, with any fractional share being allocated to the Company’s Employee Benefit Council with par value.
(3) Company share buybacks, treasury share transfers, and cancellation of shares may alter the total number of outstanding company shares and thereby affect the ratio by which earnings are distributed to shareholders. The Chairman of the Board shall be authorized to adjust the distribution ratios approved in the General Shareholder Meeting so as to accurately reflect the total number of outstanding shares as of the capital increase date of record.
(4) It is proposed that the Board of Directors be authorized to set distribution events, such as the ex-dividend and capital increase record date, after approval by a shareholders’ meeting and after approval by the competent authority. In case of changes of the regulation or of competent authority’s order, the Board of Directors shall be authorized to handle all the relevant matters. The responsibilities and obligations of new shares issued this time are same as those original shares.

Voting Result: 971,949,635 shares were represented at the time of voting.

927,907,728 shares voted for the proposal (of which 751,171,986 shares exercised via electronic transmission);

504,251 shares voted against the proposal (of which 504,251 shares exercised via electronic transmission).

43,537,656 shares abstain from voting (of which 43,170,757 shares exercised via electronic transmission), and 0 shares invalid from voting.

95.468704% of the shares were cast in favor of this proposal, which was more than 50% of the shares represented at the time of voting.

RESOLVED, that the above proposal was hereby approved as proposed.

G. Provisional Motions: None.

H. Meeting Adjourned (Time: 9:16 a.m.)

No shareholder made speech during the 2025 General Shareholders’ Meeting.

APPENDIX I

2024 Business Report

[Macroeconomic Environment and Business Plan]

In 2024, global economic factors were influenced by challenges such as easing inflationary pressures, adjustments in monetary policy, and geopolitical instability. Nevertheless, a strong demand for technological innovation and artificial intelligence has provided momentum for growth, with certain regions gradually recovering economically, presenting both risks and opportunities. The Taiwan stock market has benefited from high optimism regarding Taiwan's technology industry, with risk aversion shifting to the stock market, leading to a significant increase in the index. The weighted index of the Taiwan Stock Exchange rose from a low of 17,151.58 points at the beginning of the year to close at 23,035.1 points by year-end, marking an annual increase of 28.47%. Our management team is

committed to achieving long-term stable profits while flexibly responding to the changing economic and financial environment. Each business department actively seeks potential opportunities and adjusts strategies based on market fluctuations to promote profit growth. We consistently adhere to rigorous risk management practices, accurately monitoring and adjusting our investment portfolio to ensure that risks remain manageable while maximizing capital returns.

[Implementation and Results]

In terms of brokerage operations, the average daily market volume for 2024 was 524.721 billion, representing an increase of approximately 46.15% compared to the 359.041 billion volume in 2023. Brokerage revenue serves as a stable source of income and profit for the Company. The Company plans to expand its customer base and increase brokerage revenue by improving service quality and diversifying its product offerings. Additionally, it will actively develop digital financial services to improve transaction efficiency and customer experience. The Company will also strengthen its social media management to expand brand influence, attract more investors, and further enhance market share and profitability, ensuring long-term stable growth.

In 2024, the underwriting business coordinated a total of 54 cases, with a total underwriting amount of 4.88 billion. Our Company focuses on selecting clients with promising industry prospects and strengthening credit risk management to assist enterprises in going public and raising funds. Through pre-planning such as a lean team and a venture capital platform, we aim to reduce risks while continuously expanding business opportunities, securing high-quality clients, and enhancing the overall performance of our underwriting business.

In terms of proprietary trading, the proprietary team primarily relies on fundamental analysis to conduct in-depth research on trends. They selectively choose niche stocks and effectively manage risks using hedging tools, ensuring robust and outstanding operational performance. Regarding financial products, leveraging the strengths of the proprietary team, we continue to launch innovative products, providing investors with a wider array of investment options and further enhancing market competitiveness.

[Profitability Analysis and Operating Income/Expenditure in Budget Execution]

In 2024, the Taiwan Stock Exchange Weighted Index experienced a significant increase of 5,104.29 points. Our Company, leveraging the extensive experience of our high-quality management team and stringent risk control mechanisms, achieved an annual revenue of NT$12.025 billion with a net profit of NT$4.373 billion, resulting in earnings per share of NT$3.00, representing a year-over-year (YOY) growth of 51.9%. The return on assets (ROA) was 4.03%, and the return on equity (ROE) was 12.99%, marking a new peak in profitability. In 2025, the company will continue to accurately grasp operational directions, flexibly adjust strategies, and ensure steady profit growth while achieving budgetary goals.

[Future Operations]

Looking ahead to 2025, the global economy remains fraught with uncertainty, particularly due to new policies in the United States, supply chain restructuring, and international net-zero carbon reduction policies, all of which will pose challenges to the Taiwanese stock market. In response to these variables, our Company will leverage the capabilities of our professional team to actively seize market opportunities, carefully assess the benefits of each investment, and rigorously implement risk management to ensure long-term stable profits. We will enhance overall team effectiveness through resource sharing and cross-departmental collaboration. Furthermore, we are committed to actively promoting digital finance and low-carbon transition, continuously improving environmental and energy management, upholding corporate social responsibility, implementing ESG principles, strengthening corporate governance, and creating value for sustainable corporate development.

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APPENDIX II

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Audit Committee’s Review Report

To: The General Meeting of Shareholders as of year 2025

The Board of Directors has prepared the Company’s 2024 Business Report, Financial Statements, and Earnings Distribution Plan. The financial statements have been audited and certified by Se-Kai, Lin and Puo-Ju Kuo of PricewaterhouseCoopers Certified Public Accountants, who issued an auditors’ report. The aforementioned Business Report, Financial Statements, and Earnings Distribution Plan have been reviewed and determined to be fairly presented as stated by the Audit Committee members. According to Article 14-4 of the Securities and Exchange Act and Article 219 of the Company Law, we hereby submit this report.

President Securities Corporation Convener of Audit Committee:

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April 9, 2025

APPENDIX III

INDEPENDENT AUDITORS’ REPORT TRANSLATED FROM CHINESE

PWCR24003683

To the Board of Directors and Shareholders of PRESIDENT SECURITIES CORPORATION

Opinion

We have audited the accompanying consolidated balance sheets of President Securities Corporation and subsidiaries (the “Group”) as at December 31, 2024 and 2023, and the related consolidated statements of comprehensive income, of changes in equity and of cash flows for the years then ended, and notes to the consolidated financial statements, including a summary of material accounting policies.

In our opinion, based on our audits and the report of other auditors (please refer to the Other matter section), the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at December 31, 2024 and 2023, and its consolidated financial performance and its consolidated cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Firms, and Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants, and the International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations that came into effect as endorsed by the Financial Supervisory Commission.

Basis for Opinion

We conducted our audits in accordance with the Regulations Governing Financial Statement Audit and Attestation Engagements of Certified Public Accountants and Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the consolidated financial statements section of our report. We are independent of the Group in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key audit matters

Key audit matters are those matters that, in our professional judgement, were of most

significance in our audit of the Group’s 2024 consolidated financial statements. These matters were addressed in the context of our audit of the consolidated financial statements as a whole and, in forming our opinion thereon, we do not provide a separate opinion on these matters.

Key audit matter for the Group’s 2024 consolidated financial statements is stated as follows:

Fair value measurement of unlisted stocks without active market Description

Please refer to Note 4(8) for the accounting policies on unlisted stocks without active market (shown as “financial assets at fair value through other comprehensive income”) and Note 5(2) for details of critical accounting judgements, estimates and assumption uncertainty. As at December 31, 2024, the unlisted stocks without active market held by the Group totaled 1,452,561 thousand New Taiwan Dollars and were shown as “financial assets at fair value through other comprehensive income” (Level 3 fair value).

Due to the lack of an active market, the fair value of the unlisted stocks held by the Group was determined using valuation method. Management measured their fair value by using comparable listed companies in the market approach. The main assumptions of the market approach are calculated based on the latest related parameters of comparable listed companies in similar industries and considering discounts on market liquidity or assessment of risk.

Above-mentioned estimation of fair value involves various assumptions and material

unobservable inputs, which has high uncertainty and relies on the subjective judgement of management. Any changes in judgements and estimates may affect the ultimate result of accounting estimates and have an impact on the financial statements of the Group. Thus, we have included the fair value measurement of unlisted stocks without active market as a key audit matter in our audit.

How our audit addressed the matter

We performed the following audit procedures on the above key audit matter:

Obtained an understanding and assessed policy documents, internal control system, fair value measurement models and approval processes that are related to fair value measurement of unlisted stocks;
Ascertained whether the measurement methods used by the management is commonly used by the industry;
Assessed the reasonableness of parameter of similar companies used by management;
Examined inputs and calculation formulas used in valuation models and agreed such data to supporting documents.

Other matter – Reference to the audits of other auditors

We did not audit the financial statements of certain investments accounted for under the equity method which were audited by other auditors. Therefore, our opinion expressed herein, insofar as it relates to the amounts included in respect of these associates, is based solely on the report of the other auditors. The balance of these investments accounted for under the equity method amounted to 2,641,462 thousand New Taiwan Dollars, constituting 1.37% of the consolidated total assets as at December 31, 2024, and the comprehensive income recognized from associates and joint ventures accounted for under the equity method amounted to (65,206) thousand New Taiwan Dollars, constituting (1.26%) of the consolidated total comprehensive income for the year then ended.

Other matter – Parent company only financial reports

We have audited and expressed an unmodified opinion on the parent company only financial statements of President Securities Corporation, as at and for the years ended December 31, 2024 and 2023.

Responsibilities of management and those charged with governance for the consolidated financial statements

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Firms, Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants, and the International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations that came into effect as endorsed by the Financial Supervisory Commission, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statement that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, management is responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

Those charged with governance, including the audit committee, are responsible for overseeing the Group’s financial reporting process.

Auditors’ responsibilities for the audit of the consolidated financial statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Standards on Auditing of the Republic of China will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

As part of an audit in accordance with the Standards on Auditing of the Republic of China, we exercise professional judgment and professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Group to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Lin, Se-Kai

Independent Auditors

Kuo, Puo-Ju

For and on behalf of PricewaterhouseCoopers, Taiwan February 26, 2025

The accompanying consolidated financial statements are not intended to present the financial position and financial performance and cash flows in accordance with accounting principles generally accepted in countries and jurisdictions other than the Republic of China. The standards, procedures and practices in the Republic of China governing the audit of such financial statements may differ from those generally accepted in countries and jurisdictions other than the Republic of China. Accordingly, the accompanying consolidated financial statements and independent auditors’ report are not intended for use by those who are not informed about the accounting principles or auditing standards generally accepted in the Republic of China, and their applications in practice.

As the financial statements are the responsibility of the management, PricewaterhouseCoopers cannot accept any liability for the use of, or reliance on, the English translation or for any errors or misunderstandings that may derive from the translation.

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS

DECEMBER 31, 2024 AND 2023

(Expressed in thousands of New Taiwan dollars)

Assets	December 31, 2024 AMOUNT % `$` `7,720,139` `4` `61,405,082` `32` `4,495,890` `2` `21,935,917` `11` `6,647` `-` `5,513` `-` `18,600,130` `10` `35,545,540` `19` `402,885` `-` `374,439` `-` `338` `-` `29,482,722` `15` `944` `-` `37,168` `-` `100,882` `-` `190` `-` `3,170,687` `2` `183,285,113` `95` `117,671` `-` `1,452,561` `1` `3,611,621` `2` `2,641,569` `1` `222,677` `-` `182,731` `-` `290,626` `-` `132,712` `-` `1,535,916` `1` `10,188,084` `5` `$` `193,473,197` `100`	December 31, 2023	December 31, 2023
	AMOUNT `$` `7,720,139` `61,405,082` `4,495,890` `21,935,917` `6,647` `5,513` `18,600,130` `35,545,540` `402,885` `374,439` `338` `29,482,722` `944` `37,168` `100,882` `190` `3,170,687` `183,285,113` `117,671` `1,452,561` `3,611,621` `2,641,569` `222,677` `182,731` `290,626` `132,712` `1,535,916` `10,188,084` `$` `193,473,197`	AMOUNT `$` `5,509,978` `53,698,997` `3,078,680` `17,395,242` `1,982` `1,476` `9,247,169` `20,526,117` `451,397` `475,705` `1,475` `19,095,101` `1,191` `49,546` `74,632` `125` `1,725,872` `131,334,685` `118,280` `1,168,288` `3,412,924` `2,645,077` `132,026` `184,153` `292,437` `130,674` `1,246,679` `9,330,538` `$` `140,665,223`	%
110000 Current assets 111100 Cash and cash equivalents 112000 Financial assets at fair value through profit or loss - current 113200 Financial assets at fair value through other comprehensive income - current 114030 Margin loans receivable 114040 Refinancing security deposits 114050 Receivables from refinance guaranty 114060 Receivable of securities business money lending 114070 Customer margin account 114090 Receivables from security lending 114100 Security lending deposits 114110 Notes receivable 114130 Accounts receivable 114140 Accounts receivable-related parties 114150 Prepayments 114170 Other receivables 114600 Current tax assets 119000 Other current assets 110000 Total current assets 120000 Non-current assets 122000 Financial assets at fair value through profit or loss - non-current 123200 Financial assets at fair value through other comprehensive income - non- current 124100 Investments accounted for under the equity method 125000 Property and equipment, net 125800 Right-of-use assets 126000 Investment property 127000 Intangible assets 128000 Deferred tax assets 129000 Other assets - non-current 120000 Total non-current assets 906001 Total Assets			`4` `38` `2` `12` `-` `-` `7` `15` `-` `-` `-` `14` `-` `-` `-` `-` `1`
			`93`
			`-` `1` `3` `2` `-` `-` `-` `-` `1`
			`7`
			`100`

(Continued)

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

DECEMBER 31, 2024 AND 2023

(Expressed in thousands of New Taiwan dollars)

Liabilities and Equity	Notes 6(18) 6(19) 6(20) 6(21) 6(5) 6(22) 6(23) 6(24) 6(47) 6(25) 6(27) 6(27) 6(27)	December 31, 2024	% `5` `17` `7` `8` `1` `1` `1` `18` `1` `14` `-` `1` `1` `7` `-` `-` `-` `82` `-` `-` `-` `-` `-` `82` `8` `-` `2` `5` `2` `1` `18` `-` `18` `100`	December 31, 2023	% `5` `15` `7` `14` `1` `1` `1` `14` `1` `12` `-` `-` `2` `4` `-` `-` `-` `77` `-` `-` `-` `-` `-` `77` `10` `-` `3` `7` `2` `1` `23` `-` `23` `100`
		AMOUNT `$` `8,804,220` `32,969,815` `13,536,538` `15,589,881` `1,208,692` `1,707,090` `973,576` `35,522,374` `1,973,140` `27,475,583` `3,682` `957,998` `2,858,854` `13,801,583` `310,465` `72,104` `89,371` `157,854,966` `15,585` `149,590` `21,235` `38,219` `224,629` `158,079,595` `14,558,313` `91,261` `4,233,889` `9,803,068` `4,381,105` `2,221,269` `35,288,905` `104,697` `35,393,602` `$` `193,473,197`		AMOUNT `$` `6,944,759` `21,130,934` `10,471,312` `19,140,506` `921,093` `1,163,504` `1,632,008` `20,497,894` `852,083` `17,091,415` `3,642` `614,380` `2,259,582` `5,224,019` `265,324` `58,542` `84,055` `108,355,052` `15,507` `68,894` `19,173` `64,489` `168,063` `108,523,115` `14,558,313` `91,261` `3,959,127` `9,253,546` `2,752,936` `1,434,309` `32,049,492` `92,616` `32,142,108` `$` `140,665,223`
210000 Current liabilities 211100 Short-term loans 211200 Commercial papers payable 212000 Financial liabilities at fair value through profit or loss - current 214010 Bonds sold under repurchase agreements 214040 Deposits on short sales 214050 Short sale proceeds payable 214070 Guarantee deposit received on borrowed securities 214080 Futures traders' equity 214090 Equity for each customer in the account 214130 Accounts payable 214150 Advance receipts 214160 Collections on behalf of third parties 214170 Other payables 214200 Other financial liabilities - current 214600 Current tax liability 216000 Current lease liabilities 219000 Other current liabilities 210000 Total current liabilities 220000 Non-current liabilities 225100 Non-current provisions 226000 Non-current lease liabilities 228000 Deferred tax liabilities 229000 Other liabilities-non-current 220000 Total non-current liabilities 906003 Total Liabilities 300000 Equity attributable to owners of the parent company 301000 Capital 301010 Common stock 302000 Capital reserve 304000 Retained earnings 304010 Legal reserve 304020 Special reserve 304040 Unappropriated earnings 305000 Other equity interest 300000 Total 306000 Non-controlling interests 906004 Total Equity 906002 Total liabilities and equity

==> picture [475 x 44] intentionally omitted <==

The accompanying notes are an integral part of these consolidated financial statements.

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2024 AND 2023

(Expressed in thousands of New Taiwan dollars, except earnings per share amounts)

Items YearendedDecember31
2024
2023
Notes
AMOUNT
%
AMOUNT
%
6(29)
$
4,599,154
35
$
3,518,253
37
6(30)
116,587
1
104,284
1
80,191
1
55,919
1
6(31)
7,977,536
61
2,326,012
24
95,883
1
91,663
1
6(32)
2,221,739
17
1,366,104
14
848,754
7
3,662,857
38
6(33)
(
931,859 ) (
7)
1,728,970
18
6(34)
(
845,728 ) (
6) (
60,644) (
1 )
6(35)
149,246
1 (
1,376,328) (
14 )
6(36)
(
63,620 )
- (
143,436) (
1 )
(
82,053 ) (
1) (
295,958) (
3 )
5,517
-
8,683
-
6(37)
(
65,805 ) (
1) (
221,645) (
2 )
6(38)
(
2,289,337 ) (
18) (
1,792,083) (
19 )
6(39)
22,193
- (
16,996)
-
6(40)
1,191,583
9
586,928
6
13,029,981
100
9,542,583
100
6(41)
(
752,215 ) (
6) (
566,639) (
6 )
(
9,030 )
- (
8,484)
-
6(42)
(
1,605,888 ) (
12) (
934,881) (
10 )
(
91,717 ) (
1) (
90,785) (
1 )
(
141,030 ) (
1) (
124,702) (
2 )
(
6,678 )
- (
492)
-
6(43)
(
4,039,076 ) (
31) (
3,149,201) (
33 )
6(44)
(
354,592 ) (
3) (
313,273) (
3 )
6(45)
(
2,368,317) (
18) (
2,032,604) (
21)
(
9,368,543) (
72) (
7,221,061) (
76)

400000 Revenues
401000 Brokerage handling fee revenue
404000 Revenues from underwriting business
406000 Net gain (loss) on wealth management
410000 Net gain (loss) on sale of operating
securities
421100 Revenue from providing agency
service for stock affairs
421200 Interest income
421300 Dividend income
421500 Net valuation gain (loss) on operating
securities at fair value through profit or
loss
421600 Net gain (loss) on covering of
borrowed securities and bonds with
resale agreements-short sales
421610 Net valuation gain (loss) on borrowed
securities and bonds with resale
agreements-short sales at fair value
through profit or loss
421750 Net realized gain (loss) on financial
liabilities measured at fair value
through other comprehensive income
422000 Net gain (loss) on issuance of ETNs
422100 Administrative and handling fee
revenues from issuance of ETNs
422200 Net gain (loss) from issuance of call
(put) warrants
424400 Net gain (loss) from derivatives
425300 Expected credit impairment loss and
reversal of impairment gain
428000 Other operating income
Total revenues
500000 Expenditures and expenses
501000/
502000/
503000 Handling charges
507000 ETNs administrative expenses
521200 Financial costs
524100 Futures commission expense
524300 Expense of clearing and settlement
528000 Other operating expenditure
531000 Employee benefits expense
532000 Depreciation and amortization
533000 Other operating expenses
Total expenditures and expenses

Items	YearendedDecember31 2024 2023 Notes AMOUNT % AMOUNT % 6(29) `$` `4,599,154` `35` `$` `3,518,253` `37` 6(30) `116,587` `1` `104,284` `1` `80,191` `1` `55,919` `1` 6(31) `7,977,536` `61` `2,326,012` `24` `95,883` `1` `91,663` `1` 6(32) `2,221,739` `17` `1,366,104` `14` `848,754` `7` `3,662,857` `38` 6(33) `(` `931,859 ) (` `7)` `1,728,970` `18` 6(34) `(` `845,728 ) (` `6) (` `60,644) (` `1 )` 6(35) `149,246` `1 (` `1,376,328) (` `14 )` 6(36) `(` `63,620 )` `- (` `143,436) (` `1 )` `(` `82,053 ) (` `1) (` `295,958) (` `3 )` `5,517` `-` `8,683` `-` 6(37) `(` `65,805 ) (` `1) (` `221,645) (` `2 )` 6(38) `(` `2,289,337 ) (` `18) (` `1,792,083) (` `19 )` 6(39) `22,193` `- (` `16,996)` `-` 6(40) `1,191,583` `9` `586,928` `6` `13,029,981` `100` `9,542,583` `100` 6(41) `(` `752,215 ) (` `6) (` `566,639) (` `6 )` `(` `9,030 )` `- (` `8,484)` `-` 6(42) `(` `1,605,888 ) (` `12) (` `934,881) (` `10 )` `(` `91,717 ) (` `1) (` `90,785) (` `1 )` `(` `141,030 ) (` `1) (` `124,702) (` `2 )` `(` `6,678 )` `- (` `492)` `-` 6(43) `(` `4,039,076 ) (` `31) (` `3,149,201) (` `33 )` 6(44) `(` `354,592 ) (` `3) (` `313,273) (` `3 )` 6(45) `(` `2,368,317) (` `18) (` `2,032,604) (` `21)` `(` `9,368,543) (` `72) (` `7,221,061) (` `76)`
400000 Revenues 401000 Brokerage handling fee revenue 404000 Revenues from underwriting business 406000 Net gain (loss) on wealth management 410000 Net gain (loss) on sale of operating securities 421100 Revenue from providing agency service for stock affairs 421200 Interest income 421300 Dividend income 421500 Net valuation gain (loss) on operating securities at fair value through profit or loss 421600 Net gain (loss) on covering of borrowed securities and bonds with resale agreements-short sales 421610 Net valuation gain (loss) on borrowed securities and bonds with resale agreements-short sales at fair value through profit or loss 421750 Net realized gain (loss) on financial liabilities measured at fair value through other comprehensive income 422000 Net gain (loss) on issuance of ETNs 422100 Administrative and handling fee revenues from issuance of ETNs 422200 Net gain (loss) from issuance of call (put) warrants 424400 Net gain (loss) from derivatives 425300 Expected credit impairment loss and reversal of impairment gain 428000 Other operating income Total revenues 500000 Expenditures and expenses 501000/ 502000/ 503000 Handling charges 507000 ETNs administrative expenses 521200 Financial costs 524100 Futures commission expense 524300 Expense of clearing and settlement 528000 Other operating expenditure 531000 Employee benefits expense 532000 Depreciation and amortization 533000 Other operating expenses Total expenditures and expenses

(Continued)

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2024 AND 2023

(Expressed in thousands of New Taiwan dollars, except earnings per share amounts)

Items Year ended December 31
2024
2023
Notes
AMOUNT
%
AMOUNT
%
$
3,661,438
28
$
2,321,522
24
6(11)
305,992
2
124,630
2
6(46)
962,096
8
768,343
8
4,929,526
38
3,214,495
34
6(47)
(
542,734) (
4) (
324,740) (
4)
$
4,386,792
34
$
2,889,755
30
( $
3,202 )
-
($
158,746) (
2 )
622,271
5
84,763
1
21,148
-
(
6,620)
-
6(47)
641
-
31,749
-
156,716
1
(
59,037)
-
(
3,556)
-
126,397
1
$
794,018
6
$
18,506
-
$
5,180,810
40
$
2,908,261
30
$
4,373,054
34
$
2,878,951
30
$
13,738
-
$
10,804
-
$
5,161,110
40
$
2,898,174
30
$
19,700
-
$
10,087
-
6(48)
$
3.00
$
1.98
$
3.00
$
1.97

Operating profit
601000
Share of the profit or loss of associates and
joint ventures accounted for under the
equity method
602000
Other gains and losses
902001
Profit before tax
701000
Income tax (expense) benefit
902005
Net income
Other comprehensive income
Components of other comprehensive
income that will not be reclassified to
profit or loss
805510
Gain (loss) on remeasurements of
defined benefit plans
805540
Net unrealized gain (loss) from
investments in equity instruments at
fair value through other comprehensive
income
805550
Other comprehensive gain (loss) of
associates and joint ventures accounted
for under the equity method
805599
Income tax (expense) benefit relating to
components of other comprehensive
income
Items may be reclassified to profit or
loss subsequently
805610
Translation gain (loss) on the financial
statements of foreign operating entities
805615
Net unrealized gain (loss) from
investments in debt instruments at fair
value through other comprehensive
income
805000
Current other comprehensive income
(loss) (post-tax)
902006
Total current comprehensive income
Income attributable to:
913100
Parent company
913200
Non-controlling interests
Current comprehensive income (loss)
attributable to:
914100
Parent company
914200
Non-controlling interests
Earnings per share
975000
Basic earnings per share (in dollars)
985000
Diluted earnings per share (in dollars)

Items	Year ended December 31 2024 2023 Notes AMOUNT % AMOUNT % `$` `3,661,438` `28` `$` `2,321,522` `24` 6(11) `305,992` `2` `124,630` `2` 6(46) `962,096` `8` `768,343` `8` `4,929,526` `38` `3,214,495` `34` 6(47) `(` `542,734) (` `4) (` `324,740) (` `4)` `$` `4,386,792` `34` `$` `2,889,755` `30` `( $` `3,202 )` `-` `($` `158,746) (` `2 )` `622,271` `5` `84,763` `1` `21,148` `-` `(` `6,620)` `-` 6(47) `641` `-` `31,749` `-` `156,716` `1` `(` `59,037)` `-` `(` `3,556)` `-` `126,397` `1` `$` `794,018` `6` `$` `18,506` `-` `$` `5,180,810` `40` `$` `2,908,261` `30` `$` `4,373,054` `34` `$` `2,878,951` `30` `$` `13,738` `-` `$` `10,804` `-` `$` `5,161,110` `40` `$` `2,898,174` `30` `$` `19,700` `-` `$` `10,087` `-` 6(48) `$` `3.00` `$` `1.98` `$` `3.00` `$` `1.97`
Operating profit 601000 Share of the profit or loss of associates and joint ventures accounted for under the equity method 602000 Other gains and losses 902001 Profit before tax 701000 Income tax (expense) benefit 902005 Net income Other comprehensive income Components of other comprehensive income that will not be reclassified to profit or loss 805510 Gain (loss) on remeasurements of defined benefit plans 805540 Net unrealized gain (loss) from investments in equity instruments at fair value through other comprehensive income 805550 Other comprehensive gain (loss) of associates and joint ventures accounted for under the equity method 805599 Income tax (expense) benefit relating to components of other comprehensive income Items may be reclassified to profit or loss subsequently 805610 Translation gain (loss) on the financial statements of foreign operating entities 805615 Net unrealized gain (loss) from investments in debt instruments at fair value through other comprehensive income 805000 Current other comprehensive income (loss) (post-tax) 902006 Total current comprehensive income Income attributable to: 913100 Parent company 913200 Non-controlling interests Current comprehensive income (loss) attributable to: 914100 Parent company 914200 Non-controlling interests Earnings per share 975000 Basic earnings per share (in dollars) 985000 Diluted earnings per share (in dollars)

==> picture [437 x 41] intentionally omitted <==

The accompanying notes are an integral part of these consolidated financial statements.

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2024 AND 2023

(Expressed in thousands of New Taiwan dollars)

Notes				Equity attributable	Equity attributable	to owners of the parent	to owners of the parent	to owners of the parent	to owners of the parent	to owners of the parent			Non-controlling interests
	Commonstock	Capital reserve		R	etained earnings			Otherequityinterest				Total
			Legal reserve		Special reserve	Unappropriated earnings		Exchange differences on translation of foreign financial statements	a	Unrealised gain or loss on financial ssets measured at fair value through other comprehensive income
6(28) 6(28)	`$ 14,558,313` `-` `-` `-` `-` `-` `-` `-` `$ 14,558,313` `$ 14,558,313` `-` `-` `-` `-` `-` `-` `-` `$ 14,558,313`	`$ 91,261` `-` `-` `-` `-` `-` `-` `-` `$ 91,261` `$ 91,261` `-` `-` `-` `-` `-` `-` `-` `$ 91,261`	`$ 3,877,849` `-` `-` `-` `81,278` `-` `-` `-` `$ 3,959,127` `$ 3,959,127` `-` `-` `-` `274,762` `-` `-` `-` `$ 4,233,889`		`$ 9,090,989` `-` `-` `-` `-` `162,557` `-` `-` `$ 9,253,546` `$ 9,253,546` `-` `-` `-` `-` `549,522` `-` `-` `$ 9,803,068`	`$` `816,933` `2,878,951` `(` `131,339 )` `2,747,612` `(` `81,278 )` `(` `162,557 )` `(` `567,774 )` `-` `$ 2,752,936` `$ 2,752,936` `4,373,054` `1,096` `4,374,150` `(` `274,762 )` `(` `549,522 )` `( 1,921,697 )` `-` `$ 4,381,105`	`$` `103,010` `-` `(` `59,037 )` `(` `59,037 )` `-` `-` `-` `-` `$` `43,973` `$` `43,973` `-` `156,716` `156,716` `-` `-` `-` `-` `$` `200,689`			`$ 1,180,737` `-` `209,599` `209,599` `-` `-` `-` `-` `$ 1,390,336` `$ 1,390,336` `-` `630,244` `630,244` `-` `-` `-` `-` `$ 2,020,580`	`$ 29,719,092` `2,878,951` `19,223` `2,898,174` `-` `-` `(` `567,774 )` `-` `$ 32,049,492` `$ 32,049,492` `4,373,054` `788,056` `5,161,110` `-` `-` `(` `1,921,697 )` `-` `$ 35,288,905`		`$` `87,396` `10,804` `(` `717 )` `10,087` `-` `-` `-` `(` `4,867 )` `$` `92,616` `$` `92,616` `13,738` `5,962` `19,700` `-` `-` `-` `(` `7,619 )` `$` `104,697`	`$ 29,806,488` `2,889,755` `18,506` `2,908,261` `-` `-` `(` `567,774 )` `(` `4,867 )` `$ 32,142,108` `$ 32,142,108` `4,386,792` `794,018` `5,180,810` `-` `-` `(` `1,921,697 )` `(` `7,619 )` `$ 35,393,602`

==> picture [423 x 40] intentionally omitted <==

The accompanying notes are an integral part of these consolidated financial statements.

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2024 AND 2023

(Expressed in thousands of New Taiwan dollars)

CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax
Adjustments
Income and expenses having no effect on cash flows
Net valuation (gain) loss on operating securities at fair value
through profit or loss

Net valuation (gain) loss on borrowed securities and bonds
with resale agreements-short sales at fair value through profit
or loss

Expected impairment loss and reversal of impairment gain

Depreciation

Amortization

Financial costs

Interest income (include financial income)

Dividend income
Share of the profit of associates and joint ventures accounted
for under the equity method

(Gain) loss on disposal of property and equipment

(Gain) loss from lease modification
(Gain) loss on valuation of non-operating financial
instrument

Changes in assets/liabilities relating to operating activities
Net changes in operating assets
Financial assets at fair value through profit or loss
Financial assets at fair value through other comprehensive
income
Margin loans receivable
Refinancing security deposits
Receivables from refinance guaranty
Receivable of securities business money lending
Customer margin account
Receivables from security lending
Security lending deposits
Notes receivable
Accounts receivable
Accounts receivable-related parties
Prepayments
Other receivables
Other current assets
Net changes in liabilities relating to operating activities
Financial liabilities at fair value through profit or loss
Bonds sold under repurchase agreements
Deposits on short sales
Short sale proceeds payable
Guarantee deposit received on borrowed securities
Futures traders’ equity
Equity for each customer in the account
Accounts payable
Advance receipts
Collections on behalf of third parties
Other payables
Other financial liabilities - current
Other current liabilities Year ended December 31
Notes
2024
2023
$
4,929,526 $
3,214,495
6(2)(33)
931,859 (
1,728,970 )
6(35)
(
149,246 )
1,376,328
6(39)
(
15,150 )
17,916
6(44)
254,774
234,094
6(44)
99,818
79,179
6(42)
1,605,888
934,881
6(32)(46)
(
2,988,166 ) (
1,939,759 )
(
878,803 ) (
3,695,724 )
6(11)
(
305,992 ) (
124,630 )
6(12)
37
89
(
52 ) (
1 )
6(46)
16,261 (
9,112 )
(
8,651,028 ) (
27,583,578 )
(
882,770 ) (
356,049 )
(
4,521,636 ) (
6,880,485 )
(
4,665 )
92,154
(
4,037 )
70,923
(
9,352,961 ) (
5,152,261 )
(
15,019,423 )
257,138
48,512
708,180
101,266
2,901,925
1,137 (
712 )
(
10,007,998 ) (
8,795,781 )
247
4
12,378 (
10,977 )
188
9,420
(
1,444,815 )
225,089
3,214,472 (
62,336 )
(
3,550,625 )
12,175,082
287,599 (
888,263 )
543,586 (
646,458 )
(
658,432 ) (
174,583 )
15,024,480 (
265,692 )
1,121,057
586,157
10,381,314
6,183,634
40
1,366
343,618 (
130,340 )
599,628
668,702
8,577,564
2,439,933
5,316
842

(Continued)

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2024 AND 2023

(Expressed in thousands of New Taiwan dollars)

Cash outflow generated from operations
Interest received
Dividends received
Income tax paid
Net cash flows used in operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property and equipment

Acquisition of intangible assets

(Increase) decrease in other non-current assets
Increase in prepayment for equipment
Net cash flows used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (decrease) in short-term loans
Increase (decrease) in commercial papers payable
Increase (decrease) in other non-current liabilities
Payments of lease liabilities
Interest paid
Distribution of cash dividends
Changes in non-controlling interest
Net cash flows from financing activities
Effect of exchange rate changes
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year Year ended December 31
Notes
2024
2023
( $
10,335,234 ) ( $
26,268,180 )
2,614,266
1,742,307
1,083,695
3,851,936
(
496,993 ) (
205,839 )
(
7,134,266 ) (
20,879,776 )
6(12)
(
95,234 ) (
65,232 )
6(16)
(
27,915 ) (
30,338 )
(
269,301 ) (
46,982 )
(
161,051 ) (
127,016 )
(
553,501 ) (
269,568 )
1,859,461
6,669,759
11,860,000
15,320,000
(
33,760 ) (
3,564 )
(
75,678 ) (
76,663 )
(
1,650,472 ) (
870,191 )
(
1,921,697 ) (
567,774 )
(
7,619 ) (
4,867 )
10,030,235
20,466,700
(
132,307 ) (
1,951 )
2,210,161 (
684,595 )
5,509,978
6,194,573
$
7,720,139 $
5,509,978

==> picture [440 x 41] intentionally omitted <==

The accompanying notes are an integral part of these consolidated financial statements.

INDEPENDENT AUDITORS’ REPORT TRANSLATED FROM CHINESE

PWCR24003566

To the Board of Directors and Shareholders of President Securities Corporation

Opinion

We have audited the accompanying parent company only balance sheets of President Securities Corporation (the “Company”) as at December 31, 2024 and 2023, and the related parent company only statements of comprehensive income, of changes in equity and of cash flows for the years then ended and notes to the parent company only financial statements, including a summary of material accounting policies.

In our opinion, based on our audits and the report of other auditors (please refer to the Other matter section), the accompanying parent company only financial statements present fairly, in all material respects, the parent company only financial position of the Company as at December 31, 2024 and 2023, and its parent company only financial performance and its parent company only cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Firms and Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants.

Basis for opinion

We conducted our audits in accordance with the Regulations Governing Financial Statements Audit and Attestation Engagements of Certified Public Accountants and Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the parent company only financial statements section of our report. We are independent of the Company in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key audit matters

Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the Company’s 2024 parent company only financial statements. These matters were addressed in the context of our audit of the parent company only financial statements as a whole and, in forming our opinion thereon, we do not provide a separate opinion on these matters.

Key audit matter for the Company’s 2024 parent company only financial statements is stated as follows:

Fair value measurement of unlisted stocks without active market

Description

Please refer to Note 4(7) for the accounting policies on unlisted stocks without active market (shown as “financial assets at fair value through other comprehensive income”) and Note 5 for details of significant judgements, estimates and assumption uncertainty. As at December 31, 2024, the unlisted stocks without active market held by the Company totaled 412,862 thousand New Taiwan Dollars and were shown as “financial assets at fair value through other comprehensive income” (Level 3 fair value).

Due to the lack of an active market, the fair value of the unlisted stocks held by the Company was determined using the valuation method. Management measured its fair value by using comparable listed companies in market approach. The main assumption of market approach is calculated based on the latest related parameters of comparable listed companies in similar industries and considering discounts on market liquidity or risk particularity.

Above-mentioned estimation of fair value involves various assumptions and material unobservable inputs, which has high uncertainty and relies on the subjective judgment of management. Any changes in judgements and estimates may affect the ultimate result of accounting estimates and have an impact on the financial statements of the Company. Thus, we have included the fair value measurement of unlisted stocks without active market as a key audit matter in our audit.

How our audit addressed the matter

We performed the following audit procedures on the above key audit matter:

1.Obtained an understanding and assessed policy documents, internal control system, fair value measurement models and approval processes that are related to fair value measurement of unlisted stocks;
2.Ascertained whether the measurement methods used by the management is commonly used by the industry;
3.Assessed the reasonableness of parameter of similar companies used by management;
4.Examined inputs and calculation formulas used in valuation methods and agreed such data to supporting documents.

Other matter – Reference to the audits of other auditors

We did not audit the financial statements of certain investments accounted for under the equity method which were audited by other auditors. Therefore, our opinion expressed herein, insofar as it relates to the amounts included in respect of these associates, is based solely on the report of the other auditors. The balance of these investments accounted for under the equity method amounted to 2,641,462 thousand New Taiwan Dollars, constituting 1.68% of the parent company only total assets as at December 31, 2024, and the comprehensive income recognized from associates and joint ventures accounted for under the equity method amounted to (65,206) thousand New Taiwan Dollars, constituting (1.26%) the parent company only total comprehensive income for the years then ended.

Responsibilities of management and those charged with governance for the parent company only financial statements

Management is responsible for the preparation and fair presentation of the parent company only financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Firms, Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants, and for such internal control as management determines is necessary to enable the preparation of parent company only financial statement that are free from material misstatement, whether due to fraud or error.

In preparing the parent company only financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Those charged with governance, including the audit committee, are responsible for overseeing the Company’s financial reporting process.

Auditors’ responsibilities for the audit of the parent company only financial statements

Our objectives are to obtain reasonable assurance about whether the parent company only financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Standards on Auditing of the Republic of China will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these parent company only financial statements.

As part of an audit in accordance with the Standards on Auditing of the Republic of China, we exercise professional judgement and professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the parent company only financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the parent company only financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the parent company only financial statements, including the disclosures, and whether the parent company only financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Company to express an opinion on the parent company only financial statements. We are responsible for the direction, supervision and performance of the parent company only audit. We remain solely responsible for our audit opinion.

(Blank below)

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the parent company only financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Lin, Se-Kai

Independent Auditors

Kuo, Puo-Ju

For and on behalf of PricewaterhouseCoopers, Taiwan February 26, 2025

-------------------------------------------------------------------------------------------------------------------------------------------------------The accompanying parent company only financial statements are not intended to present the financial position and financial performance and cash flows in accordance with accounting principles generally accepted in countries and jurisdictions other than the Republic of China. The standards, procedures and practices in the Republic of China governing the audit of such financial statements may differ from those generally accepted in countries and jurisdictions other than the Republic of China. Accordingly, the accompanying parent company only financial statements and independent auditors’ report are not intended for use by those who are not informed about the accounting principles or auditing standards generally accepted in the Republic of China, and their applications in practice.

PRESIDENT SECURITIES CORPORATION PARENT COMPANY ONLY BALANCE SHEETS DECEMBER 31, 2024 AND 2023

(Expressed in thousands of New Taiwan dollars)

Assets	December 31,2024 AMOUNT % `$` `5,019,258` `3` `60,843,659` `39` `4,495,890` `3` `21,935,917` `14` `6,647` `-` `5,513` `-` `18,600,130` `12` `402,885` `-` `374,439` `-` `338` `-` `29,461,926` `19` `3,311` `-` `32,810` `-` `18,039` `-` `3,180,519` `2` `144,381,281` `92` `51,171` `-` `412,862` `-` `8,182,694` `5` `2,462,308` `2` `212,777` `-` `182,731` `-` `227,109` `-` `131,659` `-` `1,296,191` `1` `13,159,502` `8` `$` `157,540,783` `100`	December 31,2023	December 31,2023
	AMOUNT `$` `5,019,258` `60,843,659` `4,495,890` `21,935,917` `6,647` `5,513` `18,600,130` `402,885` `374,439` `338` `29,461,926` `3,311` `32,810` `18,039` `3,180,519` `144,381,281` `51,171` `412,862` `8,182,694` `2,462,308` `212,777` `182,731` `227,109` `131,659` `1,296,191` `13,159,502` `$` `157,540,783`	AMOUNT `$` `3,057,640` `53,186,728` `3,078,680` `17,395,242` `1,982` `1,476` `9,247,169` `451,397` `475,705` `1,475` `19,083,359` `4,196` `44,247` `14,434` `1,733,992` `107,777,722` `59,780` `307,448` `7,544,462` `2,460,229` `126,293` `184,153` `229,816` `129,269` `1,004,224` `12,045,674` `$` `119,823,396`	%
110000 Current assets 111100 Cash and cash equivalents 112000 Financial assets at fair value through profit or loss - current 113200 Financial assets at fair value through other comprehensive income - current 114030 Margin loans receivable 114040 Refinancing security deposits 114050 Receivables from refinance guaranty 114060 Receivable of securities business money lending 114090 Receivables from security lending 114100 Security lending deposits 114110 Notes receivable 114130 Accounts receivable 114140 Accounts receivable - related parties 114150 Prepayments 114170 Other receivables 119000 Other current assets 110000 Total current assets 120000 Non-current assets 122000 Financial assets at fair value through profit or loss - non-current 123200 Financial assets at fair value through other comprehensive income - non- current 124100 Investments accounted for under the equity method 125000 Property and equipment, net 125800 Right-of-use assets 126000 Investment property 127000 Intangible assets 128000 Deferred tax assets 129000 Other assets - non-current 120000 Total non-current assets 906001 Total Assets			`3` `44` `3` `15` `-` `-` `8` `-` `-` `-` `16` `-` `-` `-` `1`
			`90`
			`-` `-` `7` `2` `-` `-` `-` `-` `1`
			`10`
			`100`

(Continued)

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY BALANCE SHEETS DECEMBER 31, 2024 AND 2023

(Expressed in thousands of New Taiwan dollars)

Liabilities and Equity	December 31, 2024 AMOUNT % `$` `8,804,220` `5` `32,969,815` `21` `13,535,710` `9` `15,589,881` `10` `1,208,692` `1` `1,707,090` `1` `973,576` `1` `1,982,997` `1` `27,431,166` `17` `1,658` `-` `955,543` `1` `2,636,299` `2` `13,801,583` `9` `277,983` `-` `67,716` `-` `74,132` `-` `122,018,061` `78` `15,585` `-` `143,956` `-` `19,468` `-` `54,808` `-` `233,817` `-` `122,251,878` `78` `14,558,313` `9` `91,261` `-` `4,233,889` `3` `9,803,068` `6` `4,381,105` `3` `2,221,269` `1` `35,288,905` `22` `$` `157,540,783` `100`	December 31, 2023	December 31, 2023
	AMOUNT `$` `8,804,220` `32,969,815` `13,535,710` `15,589,881` `1,208,692` `1,707,090` `973,576` `1,982,997` `27,431,166` `1,658` `955,543` `2,636,299` `13,801,583` `277,983` `67,716` `74,132` `122,018,061` `15,585` `143,956` `19,468` `54,808` `233,817` `122,251,878` `14,558,313` `91,261` `4,233,889` `9,803,068` `4,381,105` `2,221,269` `35,288,905` `$` `157,540,783`	AMOUNT `$` `6,944,759` `21,130,934` `10,463,828` `19,140,506` `921,093` `1,163,504` `1,632,008` `860,210` `17,055,597` `121` `612,897` `2,079,118` `5,224,019` `232,902` `55,596` `76,207` `87,593,299` `15,507` `66,037` `17,915` `81,146` `180,605` `87,773,904` `14,558,313` `91,261` `3,959,127` `9,253,546` `2,752,936` `1,434,309` `32,049,492` `$` `119,823,396`	%
210000 Current liabilities 211100 Short-term loans 211200 Commercial papers payable 212000 Financial liabilities at fair value through profit or loss - current 214010 Bonds sold under repurchase agreements 214040 Deposits on short sales 214050 Short sale proceeds payable 214070 Guarantee deposit received on borrowed securities 214090 Equity for each customer in the account 214130 Accounts payable 214150 Advance receipts 214160 Collections on behalf of third parties 214170 Other payables 214200 Other financial liabilities - current 214600 Current tax liability 216000 Current lease liabilities 219000 Other current liabilities 210000 Total current liabilities 220000 Non-current liabilities 225100 Non-current provisions 226000 Non-current lease liabilities 228000 Deferred tax liability 229000 Other liabilities - non-current 220000 Total non-current liabilities 906003 Total Liabilities 301000 Capital 301010 Common stock 302000 Capital reserve 304000 Retained earnings 304010 Legal reserve 304020 Special reserve 304040 Unappropriated earnings 305000 Other equity interest 906004 Total equity 906002 Total liabilities and equity			`6` `18` `9` `16` `1` `1` `1` `1` `14` `-` `-` `2` `4` `-` `-` `-`
			`73`
			`-` `-` `-` `-`
			`-`
			`73`
			`12` `-` `4` `8` `2` `1`
			`27`
			`100`

==> picture [397 x 38] intentionally omitted <==

The accompanying notes are an integral part of these parent company only financial statements.

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME

YEARS ENDED DECEMBER 31, 2024 AND 2023

(Expressed in thousands of New Taiwan dollars, except earnings per share)

Items
400000
Revenues
401000
Brokerage handling fee revenue
404000
Revenues from underwriting business
406000
Net gain (loss) on wealth management
410000
Net gain (loss) on sale of trading securities
421100
Revenue from providing agency service for
stock affairs
421200
Interest revenue
421300
Dividend revenue
421500
Net valuation gain (loss) on operating
securities at fair value through profit or loss
421600
Net gain (loss) on covering of borrowed
securities and bonds with resale agreements-
short sales
421610
Net valuation gain (loss) on borrowed
securities and bonds with resale agreements-
short sales at fair value through profit or loss
421750
Net realized gain (loss) on financial liabilities
measured at fair value through other
comprehensive income
422000
Net gain (loss) on issuance of ETNs
422100
Administrative and handling fee revenues
from issuance of ETNs
422200
Net gain (loss) from issuance of call (put)
warrants
424100
Future commission revenue
424400
Net gain (loss) from derivatives
425300
Expected credit impairment loss and reversal
of impairment gain
428000
Other operating income
Total revenue
500000
Expenditures and expenses
501000/
502000/
503000
Handling charges
507000
ETNs administrative expenses
521200
Financial costs
524200
Securities commission expense
524300
Expense of clearing and settlement
528000
Other operating expenditure
531000
Employee benefits expense
532000
Depreciation and amortization
533000
Other operating expense
Total expenditure and expense
Operating profit
601100
Share of the profit or loss of associates and joint
ventures accounted for under the equity method
602000
Other gains and losses
902001
Profit before tax
701000
Income tax (expense) benefit
902005
Net income Year ended December 31
2024
2023
Notes
AMOUNT
%
AMOUNT
%
6(28)
$
3,810,592
32
$
2,795,316
32
6(29)
116,587
1
104,284
1
80,191
1
55,919
1
6(30)
7,977,445
66
2,321,554
27
95,951
1
91,731
1
6(31)
2,221,737
19
1,366,096
16
847,195
7
3,662,012
42
6(32)
(
944,760 ) (
8)
1,746,344
20
6(33)
(
845,728 ) (
7) (
60,644) (
1 )
6(34)
149,246
1
(
1,376,328) (
16 )
(
63,620 )
-
(
143,436) (
2 )
(
82,053 ) (
1) (
295,958) (
3 )
5,517
-
8,683
-
6(36)
(
65,805 ) (
1) (
221,645) (
2 )
35,610
-
34,079
-
6(37)
(
2,306,359 ) (
19) (
1,816,523) (
21 )
6(38)
22,193
-
(
17,076)
-
6(39)
970,599
8
424,309
5
12,024,538
100
8,678,717
100
6(40)
(
577,434 ) (
5) (
410,560) (
5 )
(
9,030 )
-
(
8,484)
-
6(41)
(
1,516,836 ) (
12) (
873,831) (
10 )
(
109 )
-
(
98)
-
(
24,769 )
-
(
20,873)
-
(
6,678 )
-
(
492)
-
6(42)
(
3,616,061 ) (
30) (
2,772,591) (
32 )
6(43)
(
318,328 ) (
3) (
275,701) (
3 )
6(44)
(
2,170,821) (
18) (
1,877,364) (
22)
(
8,240,066) (
68) (
6,239,994) (
72)
3,784,472
32
2,438,723
28
6(10)
772,602
6
455,691
5
6(45)
243,115
2
225,358
3
4,800,189
40
3,119,772
36
6(46)
(
427,135) (
4) (
240,821) (
3)
$
4,373,054
36
$
2,878,951
33

(Continued)

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2024 AND 2023

(Expressed in thousands of New Taiwan dollars, except earnings per share)

Items Year ended December 31
2024
2023
Notes
AMOUNT
%
AMOUNT
%
( $
7,490 )
-
($
161,720) (
2 )
6(3)
443,412
4
108,975
1
197,476
2
(
27,736)
-
6(46)
1,498
-
32,344
-
156,716
1
(
59,037) (
1 )
(
3,556 )
-
126,397
2
$
788,056
7
$
19,223
-
$
5,161,110
43
$
2,898,174
33
6(47)
$
3.00
$
1.98
$
3.00
$
1.97

Other comprehensive income
Components of other comprehensive
income that will not be reclassified to
profit or loss
805510
Gain (loss) on remeasurements of
defined benefit plan
805540
Net unrealised gain (loss) from
investments in equity instruments at
fair value through other comprehensive
income
805560
Other comprehensive income (loss) of
subsidiaries, associates, and joint
ventures accounted for under the
equity method - not reclassified to
profit or loss
805599
Income tax (expense) benefit relating
to components of other comprehensive
income that will not be reclassified to
profit or loss
Items may be reclassified to profit or
loss subsequently
805610
Translation gain (loss) on the financial
statements of foreign operating entities
805615
Net unrealised gain (loss) from
investments in debt instruments at fair
value through other comprehensive
income
805000
Current other comprehensive income
(loss) (post-tax)
902006
Total current comprehensive income
(loss)
Earnings per share
975000
Basic earnings per share (in dollars)
985000
Diluted earnings per share (in dollars)

Items	Year ended December 31 2024 2023 Notes AMOUNT % AMOUNT % `( $` `7,490 )` `-` `($` `161,720) (` `2 )` 6(3) `443,412` `4` `108,975` `1` `197,476` `2` `(` `27,736)` `-` 6(46) `1,498` `-` `32,344` `-` `156,716` `1` `(` `59,037) (` `1 )` `(` `3,556 )` `-` `126,397` `2` `$` `788,056` `7` `$` `19,223` `-` `$` `5,161,110` `43` `$` `2,898,174` `33` 6(47) `$` `3.00` `$` `1.98` `$` `3.00` `$` `1.97`
Other comprehensive income Components of other comprehensive income that will not be reclassified to profit or loss 805510 Gain (loss) on remeasurements of defined benefit plan 805540 Net unrealised gain (loss) from investments in equity instruments at fair value through other comprehensive income 805560 Other comprehensive income (loss) of subsidiaries, associates, and joint ventures accounted for under the equity method - not reclassified to profit or loss 805599 Income tax (expense) benefit relating to components of other comprehensive income that will not be reclassified to profit or loss Items may be reclassified to profit or loss subsequently 805610 Translation gain (loss) on the financial statements of foreign operating entities 805615 Net unrealised gain (loss) from investments in debt instruments at fair value through other comprehensive income 805000 Current other comprehensive income (loss) (post-tax) 902006 Total current comprehensive income (loss) Earnings per share 975000 Basic earnings per share (in dollars) 985000 Diluted earnings per share (in dollars)

==> picture [408 x 39] intentionally omitted <==

The accompanying notes are an integral part of these parent company only financial statements.

PRESIDENT SECURITIES CORPORATION PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2024 AND 2023

(Expressed in thousands of New Taiwan dollars)

For the year ended December 31, 2023 Balance at January 1, 2023 Net income for the year Other comprehensive income (loss) for the year Total comprehensive income (loss) Appropriations of 2022 earnings Legal reserve Special reserve Cash dividends Balance at December 31, 2023 For the year ended December 31, 2024 Balance at January 1, 2024 Net income for the year Other comprehensive income (loss) for the year Total comprehensive income (loss) Appropriations of 2023 earnings Legal reserve Special reserve Cash dividends Balance at December 31, 2024	Notes		Commonstock		Capital reserve				Retained earnings				Otherequityinterest	Otherequityinterest		Totalequity
							Legal reserve		Special reserve		Unappropriated earnings		Exchange differences on translation of foreign financial statements Unrealised gains (losses) on financial assets measured at fair value through other comprehensiveincome
	6(26) 6(26)		`$` `14,558,313` `-` `-` `-` `-` `-` `-` `$` `14,558,313` `$` `14,558,313` `-` `-` `-` `-` `-` `-` `$` `14,558,313`		`$` `91,261` `-` `-` `-` `-` `-` `-` `$` `91,261` `$` `91,261` `-` `-` `-` `-` `-` `-` `$` `91,261`		`$` `3,877,849` `-` `-` `-` `81,278` `-` `-` `$` `3,959,127` `$` `3,959,127` `-` `-` `-` `274,762` `-` `-` `$` `4,233,889`		`$` `9,090,989` `-` `-` `-` `-` `162,557` `-` `$` `9,253,546` `$` `9,253,546` `-` `-` `-` `-` `549,522` `-` `$` `9,803,068`	`$` `816,933` `2,878,951` `(` `131,339 )` `2,747,612` `(` `81,278 )` `(` `162,557 )` `(` `567,774 )` `$` `2,752,936` `$` `2,752,936` `4,373,054` `1,096` `4,374,150` `(` `274,762 )` `(` `549,522 )` `(` `1,921,697 )` `$` `4,381,105`		`$` `103,010` `-` `(` `59,037 )` `(` `59,037 )` `-` `-` `-` `$` `43,973` `$` `43,973` `-` `156,716` `156,716` `-` `-` `-` `$` `200,689`		`$` `1,180,737` `-` `209,599` `209,599` `-` `-` `-` `$` `1,390,336` `$` `1,390,336` `-` `630,244` `630,244` `-` `-` `-` `$` `2,020,580`	`$` `29,719,092` `2,878,951` `19,223` `2,898,174` `-` `-` `(` `567,774` `)` `$` `32,049,492` `$` `32,049,492` `4,373,054` `788,056` `5,161,110` `-` `-` `(` `1,921,697` `)` `$` `35,288,905`

==> picture [462 x 43] intentionally omitted <==

The accompanying notes are an integral part of these parent company only financial statements.

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2024 AND 2023

(Expressed in thousands of New Taiwan dollars)

CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax
Adjustments
Adjustments to reconcile profit (loss)
Net valuation (gain) loss on operating securities at fair value
through profit or loss

Net valuation (gain) loss on borrowed securities and bonds
with resale agreements-short sales at fair value through profit
or loss

Expected credit impairment loss and reversal of impairment
gain

Depreciation

Amortization

Financial costs

Interest income (include financial income)

Dividend income
Share of profit of subsidiaries, associates and joint ventures
accounted for under the equity method

(Gain) loss on disposal of property and equipment

(Gain) loss on disposal of investments
(Gain) loss from lease modification
(Gain) loss on valuation of non-operating financial
instruments

Changes in operating assets and liabilities
Changes in operating assets
Financial assets at fair value through profit or loss
Financial assets at fair value through other comprehensive
income
Margin loans receivable
Refinancing security deposits
Receivables from refinance guaranty
Receivable of securities business money lending
Receivables from security lending
Security lending deposits
Notes receivable
Accounts receivable
Accounts receivable - related parties
Prepayments
Other receivables
Other current assets
Changes in operating liabilities
Financial liabilities at fair value through profit or loss
Bonds sold under repurchase agreements
Deposits on short sales
Short sale proceeds payable
Guarantee deposit received on borrowed securities
Equity for each customer in the account
Accounts payable
Advance receipts
Collections on behalf of third parties
Other payable
Other financial liabilities - current
Other current liabilities Year ended December 31
Notes
2024
2023
$
4,800,189 $
3,119,772
6(2)(32)
944,760 (
1,746,344 )
6(34)
(
149,246 )
1,376,328
6(38)
(
15,150 )
17,996
6(43)
233,449
209,372
6(43)
84,879
66,329
6(41)
1,516,836
873,831
6(31)(45)
(
2,301,131 ) (
1,433,328 )
(
860,463 ) (
3,674,590 )
6(10)
(
772,602 ) (
455,691 )
6(12)
-
12
- (
228 )
(
51 ) (
1 )
6(45)
13,669 (
1,891 )
(
8,604,183 ) (
27,416,224 )
(
882,770 ) (
356,049 )
(
4,521,636 ) (
6,880,485 )
(
4,665 )
92,154
(
4,037 )
70,923
(
9,352,961 ) (
5,152,261 )
48,512
708,180
101,266
2,901,925
1,137 (
712 )
(
9,998,944 ) (
8,795,235 )
885
521
11,437 (
10,593 )
1,289 (
1,784 )
(
1,446,527 )
136,436
3,221,128 (
68,584 )
(
3,550,625 )
12,175,082
287,599 (
888,263 )
543,586 (
646,458 )
(
658,432 ) (
174,583 )
1,122,787
591,181
10,372,715
6,269,564
1,537
92
342,646 (
130,621 )
557,348
630,524
8,577,564
2,439,933
(
2,075 )
4,201

(Continued)

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2024 AND 2023

(Expressed in thousands of New Taiwan dollars)

Cash outflow generated from operations
Interest received
Dividends received
Income tax paid
Net cash flows used in operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property and equipment

Acquisition of intangible assets

(Increase) decrease in other non-current assets
Increase in prepayment for equipment
Proceeds from disposal of investments accounted for using equity
method
Net cash flows used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (decrease) in short-term loans
Increase (decrease) in commercial papers payable
Increase (decrease) in other non-current liabilities
Payments of lease liabilities
Interest paid
Distribution of cash dividends

Net cash flows from financing activities
Effect of exchange rate changes
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year Year ended December 31
Notes
2024
2023
( $
10,340,280 ) ( $
26,149,569 )
1,948,793
1,263,762
1,329,522
4,510,095
(
381,393 ) (
123,012 )
(
7,443,358 ) (
20,498,724 )
6(11)
(
85,410 ) (
62,239 )
6(15)
(
18,252 ) (
23,205 )
(
276,220 ) (
45,245 )
(
153,423 ) (
114,974 )
-
61,882
(
533,305 ) (
183,781 )
1,859,461
6,669,759
11,860,000
15,320,000
(
33,828 ) (
2,470 )
(
71,334 ) (
68,646 )
(
1,561,249 ) (
812,273 )
6(28)
(
1,921,697 ) (
567,774 )
10,131,353
20,538,596
(
193,072 )
8,755
1,961,618 (
135,154 )
3,057,640
3,192,794
$
5,019,258 $
3,057,640

==> picture [407 x 38] intentionally omitted <==

The accompanying notes are an integral part of these parent company only financial statements.

APPENDIX IV

President Securities Corporation 2024 Earnings Distribution Proposal

President Securities Corporation 2024 Earnings Distribution Proposal	APPENDIX IV
	Unit:：NT$
Unappropriated earnings as of January 1, 2024 (Note 1)	$6,955,269
Add(Less)：Due to remeasurement of defined benefits plan (Note 2)	1,095,141
Add`：`Net profit after tax of 2024	4,373,054,142
Subtotal	4,381,104,552

Less：Legal Reserve (Note 3)	(437,414,929)
Special Reserve (Note 4)	(874,829,857)
Unappropriated earnings Available for Distribution	3,068,859,766
Distribution items
─ Cash dividend (NT$ 1.1 / per share)	1,601,414,478
─ Stock dividend (NT$ 1 / per share)	1,455,831,350

Unappropriated earnings as of December 31, 2024	$11,613,938

Note 1[：] The amount of unappropriated earnings in the earning distributions resolved by the shareholders’ meeting of 2024
Note 2[：] The Company has adopted T-IFRSs and unappropriated earnings was increased by $1,095,141 due to remeasurement of defined benefits plan (included in other comprehensive income).
Note 3[：] According to Article 237 of the Company Act, Jingshan Letter No.10802432410 and Article 23-1 of the Company’s Article of Incorporation, 10% were set aside as legal reserve.
Note 4[：] According to Article 14 of Regulations Governing Securities Firms, and Article 23-1 of the Company’s Article of Incorporation, 20% were set aside as special reserve.
Note 5[：] Prior years’ unappropriated earnings shall not be appropriated unless the current year’s unappropriated earnings is insufficient for distribution.
Note 6[：] Total common shares outstanding as of December 31, 2024 was 1,455,831,343 shares.

==> picture [451 x 42] intentionally omitted <==

AI assistant

PSC — AGM Information 2025

52209_rns_2025-06-09_3b28c1e4-4ffb-4148-a801-6624944fb5f5.pdf

Meeting Minutes of 2025 General Shareholders’ Meeting

A. Chairman's Address (omitted)

B. Report Items

C. Items to be Adopted

■ Motion 1 (proposed by the Board of Directors)

RESOLVED, that the above proposal was hereby approved as proposed.

■ Motion 2 (Proposed by the Board of Directors)

RESOLVED, that the above proposal was hereby approved as proposed.

D. Items for Discussion

■ Item 1 (Proposed by the Board of Directors)

RESOLVED, that the above proposal was hereby approved as proposed.

■ Item 2 (Proposed by the Board of Directors)

RESOLVED, that the above proposal was hereby approved as proposed.

G. Provisional Motions: None.

H. Meeting Adjourned (Time: 9:16 a.m.)

2024 Business Report

[Macroeconomic Environment and Business Plan]

[Implementation and Results]

[Profitability Analysis and Operating Income/Expenditure in Budget Execution]

[Future Operations]

Audit Committee’s Review Report

INDEPENDENT AUDITORS’ REPORT TRANSLATED FROM CHINESE

To the Board of Directors and Shareholders of PRESIDENT SECURITIES CORPORATION

Opinion

Basis for Opinion

Key audit matters

Other matter – Reference to the audits of other auditors

Other matter – Parent company only financial reports

Responsibilities of management and those charged with governance for the consolidated financial statements

Auditors’ responsibilities for the audit of the consolidated financial statements

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS

DECEMBER 31, 2024 AND 2023

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

DECEMBER 31, 2024 AND 2023

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2024 AND 2023

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2024 AND 2023

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2024 AND 2023

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2024 AND 2023

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2024 AND 2023

To the Board of Directors and Shareholders of President Securities Corporation

Opinion

Basis for opinion

Key audit matters

Fair value measurement of unlisted stocks without active market

Description

How our audit addressed the matter

Other matter – Reference to the audits of other auditors

Responsibilities of management and those charged with governance for the parent company only financial statements

Auditors’ responsibilities for the audit of the parent company only financial statements

Lin, Se-Kai

Independent Auditors

Kuo, Puo-Ju

For and on behalf of PricewaterhouseCoopers, Taiwan February 26, 2025

PRESIDENT SECURITIES CORPORATION PARENT COMPANY ONLY BALANCE SHEETS DECEMBER 31, 2024 AND 2023

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY BALANCE SHEETS DECEMBER 31, 2024 AND 2023

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME

YEARS ENDED DECEMBER 31, 2024 AND 2023

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2024 AND 2023

PRESIDENT SECURITIES CORPORATION PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2024 AND 2023

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2024 AND 2023

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2024 AND 2023

President Securities Corporation 2024 Earnings Distribution Proposal

More from PSC

PSC AGM Information 2025