PSC — Annual Report 2023

Mar 5, 2024

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2024.03.05

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• This document may contain forward-looking statements, including but not limited to statements that address activities, events or developments that the Company expects or anticipates to occur in the future. All statements are made according to the projection of future operation and various political, economic and market factors beyond the Company’s control. Therefore, the actual results may differ materially from those contained in the forward-looking statements.

• The financial information provided in the document has not fully been reviewed by accountant.

• This document is not and cannot be construed as an offer to purchase or sell securities or other financial products or solicitation of an offer.

• All texts, images, illustrations and other material are subject to copyright held by President Securities Corp. Any reproduction, dissemination, transmission, and forwarding is strictly prohibited without the express written permission of President Securities Corp.

President Securities Corporation | Tel : (02)8172-4668 | Add: No.8, Dongxing Rd., Songshan Dist., Taipei City , Taiwan

Global Economic Overview

Global inflation is slowing down, while economic recovery is faltering.

• Based on the latest IMF forecast, global economic growth is expected at 3.1% in 2023 and is projected to unchanged in 2024.

• The IMF has also predicted a possible decline in global inflation to 5.8% in 2024.

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With U.S. inflation rate still sticky , FED’s policy tend to conservative.

• The U.S. Department of Labor announced an annual growth rate of 3.1% for the Consumer Price Index (CPI) in January.

• The U.S. Department of Labor reported an unemployment rate of 3.7 in January.

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China's real estate crisis has spread, economic growth limited.

• China reported the 2023 GDP growth rate of 5.2% in mid-January.

• The real estate investment market is still in recession, which burdens the macroeconomy.

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Taiwan's export performance showed positive signs in the 2023 fourth quarter.

• The Directorate General of Budget has estimated GDP growth rate is 1.4% for 2023, and NDC's monitoring indicators is Green light in February .

• The trade surplus of 2023 was a new record in history, and the growth of private consumption also hit a record high.

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President Securities Corporation | Tel : (02)8172-4668 | Add: No.8, Dongxing Rd., Songshan Dist., Taipei City , Taiwan

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Brief Introduction President Futures Co.,LTD
Uni-President Asset Management Corp.
President Capital Management Corp.
Number of Date of President Insurance Agency Co., Ltd.
employees Incorporation PSC Venture Capital Investment Co., Ltd.
1,690
Product and Services
1988.12.17
Number
Brokerage, Proprietary Trading,
of Branches
Underwriting, Fixed Income Dealing, Affiliated
31
Financial Products, Shareholder Services,
Companies
Wealth Management & Trust, Capital
Offshore Securities Units
NTD 145.58
Billion
President Securities (Hong Kong) Limited
President Wealth Management (HK) Ltd.
統一綜合證券
JinYuan President Securities Co.,Ltd.
President Securities Corporation
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統一綜合證券股份有限公司｜服務專線：(02)8172-4668 地址：台北市松山區東興路8號｜ 110年金管證總字第0067號

ITEM 2023 % 2022 % Current Assets 131,335 93% 85,396 90% Non-Current Assets 9,330 7% 9,495 10% Total Assets 140,665 100% 94,891 100% Current Liabilities 108,355 77% 64,963 69% Non-Current Liabilities 168 0% 121 0% Total Liabilities 108,523 77% 65,084 69% Capital Common Stock 14,558 10% 14,558 15% Other Equity 17,584 13% 15,249 16% Total Equity 32,142 23% 29,807 31% Unit：Million NTD Consolidated Balance Sheets	ITEM 2023 % 2022 % Current Assets 131,335 93% 85,396 90% Non-Current Assets 9,330 7% 9,495 10% Total Assets 140,665 100% 94,891 100% Current Liabilities 108,355 77% 64,963 69% Non-Current Liabilities 168 0% 121 0% Total Liabilities 108,523 77% 65,084 69% Capital Common Stock 14,558 10% 14,558 15% Other Equity 17,584 13% 15,249 16% Total Equity 32,142 23% 29,807 31% Unit：Million NTD Consolidated Balance Sheets	ITEM 2023 % 2022 % Current Assets 131,335 93% 85,396 90% Non-Current Assets 9,330 7% 9,495 10% Total Assets 140,665 100% 94,891 100% Current Liabilities 108,355 77% 64,963 69% Non-Current Liabilities 168 0% 121 0% Total Liabilities 108,523 77% 65,084 69% Capital Common Stock 14,558 10% 14,558 15% Other Equity 17,584 13% 15,249 16% Total Equity 32,142 23% 29,807 31% Unit：Million NTD Consolidated Balance Sheets
	Current Assets Non-Current Assets	131,335 93% 85,396 90% 9,330 7% 9,495 10%
	Total Assets	140,665 100% 94,891 100% 108,355 77% 64,963 69% 168 0% 121 0%
	Current Liabilities Non-Current Liabilities
	Total Liabilities	108,523 77% 65,084 69% 14,558 10% 14,558 15% 17,584 13% 15,249 16%
	Capital Common Stock Other Equity
	Total Equity	32,142 23% 29,807 31% Unit：Million NTD

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President Securities Corporation | Tel : (02)8172-4668 | Add: No.8, Dongxing Rd., Songshan Dist., Taipei City , Taiwan

ITEM 2023 % 2022 % Revenues 9,543 100% 6,271 100% Operating Expenses 7,221 76% 5,573 89% Operating Income 2,322 24% 698 11% Other Income and Costs 893 10% 276 5% Income Before Tax 3,215 34% 974 16% Income Tax Expense 325 4% 238 4% Net Income 2,890 30% 736 12% Other Comprehensive Income 18 0% 58 1% Total Comprehensive Income 2,908 30% 794 13% EPS(NTD) 1.98 - 0.50 - Consolidated Income Statement	ITEM 2023 % 2022 % Revenues 9,543 100% 6,271 100% Operating Expenses 7,221 76% 5,573 89% Operating Income 2,322 24% 698 11% Other Income and Costs 893 10% 276 5% Income Before Tax 3,215 34% 974 16% Income Tax Expense 325 4% 238 4% Net Income 2,890 30% 736 12% Other Comprehensive Income 18 0% 58 1% Total Comprehensive Income 2,908 30% 794 13% EPS(NTD) 1.98 - 0.50 - Consolidated Income Statement	ITEM 2023 % 2022 % Revenues 9,543 100% 6,271 100% Operating Expenses 7,221 76% 5,573 89% Operating Income 2,322 24% 698 11% Other Income and Costs 893 10% 276 5% Income Before Tax 3,215 34% 974 16% Income Tax Expense 325 4% 238 4% Net Income 2,890 30% 736 12% Other Comprehensive Income 18 0% 58 1% Total Comprehensive Income 2,908 30% 794 13% EPS(NTD) 1.98 - 0.50 - Consolidated Income Statement
	Revenues	9,543 100% 6,271 100% 7,221 76% 5,573 89%
	Operating Expenses Operating Income Other Income and Costs Income Before Tax Income Tax Expense
		2,322 24% 698 11% 893 10% 276 5%
		3,215 34% 974 16% 325 4% 238 4%
	Net Income	2,890 30% 736 12% 18 0% 58 1%
	Other Comprehensive Income Total Comprehensive Income
		2,908 30% 794 13%
	EPS(NTD)	1.98 - 0.50 -

Unit：Million NTD

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President Securities Corporation | Tel : (02)8172-4668 | Add: No.8, Dongxing Rd., Songshan Dist., Taipei City , Taiwan

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-
5 Years Operating Performances
營收Revenue
淨利Net Income
100 MIL
EPS
150
116.22
95.81 95.43
100
2.75
71.42 2.48
62.71 1.98
1.69
50 40.11
36.15
0.5 28.90
23.74
7.36
0
2019 2020 2021 2022 2023 2023 YEAR
SOURCE：MOPS
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President Securities Corporation | Tel : (02)8172-4668 | Add: No.8, Dongxing Rd., Songshan Dist., Taipei City , Taiwan

Business Development

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Brokerage Business

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Proprietary Trading

Market Position

In both brokerage and financing balances, PSC has achieved a higher market share compared to 2022. Looking ahead, the department will persist in refining E-service capabilities and pursuing avenues for new business development.

Operating Status

As AI market is poised to explode, the proprietary trading department capitalize on investing in the AI stocks. The return of Investment for the proprietary trading department outperformed TAIEX in 2023.

System Planning

Operational Strategy

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It is expected that the stock market trend of Q4 2023 is unclear, therefore the investment strategy was to size down its trading position.

The scope of sub-account business was nearly doubled in 2023, PSC will continued to optimize functions of sub-account system in 2024.

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Come with PSC: https://webportal.pscnet.com.tw/event_2021001/index.php

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President Securities Corporation | Tel : (02)8172-4668 | Add: No.8, Dongxing Rd., Songshan Dist., Taipei City , Taiwan

Business Development

Fixed Income Dealin g

Operating Strategy

As the treasury yield and yield spread was fluctuation in 2023, the department made profit by managed position and trade steadily in the market.

Customer Concerns

The department will enhance collaboration with other departments to prioritize market demand and broaden the scope of service offerings.

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Underwriting Business

Underwriting Performance

The department benefited from well market condition, profit on securities sold was higher than expected value in 2023, made operating performance meet the budget.

Development Strategy

The department is actively involved in the market and is dedicated to increasing its market share in Initial Public Offerings (IPOs) and Secondary Public Offerings (SPOs).

Wealth Management

Investment Trust

The rate of Non-discretionary Money Trust has grown by 42% compared to 2022. Foreign bonds and Offshore Structured Notes have shown exceptional performance this year.

Marketing Campaign

The department is initialing a fund/ETF selling award campaign , launching an internal motivational activities , and continuously optimizing services.

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President Securities Corporation | Tel : (02)8172-4668 | Add: No.8, Dongxing Rd., Songshan Dist., Taipei City , Taiwan

Business Development

Business Profile

Quantitative Trading

The accumulated profits is rank 4th among proprietary concurrent operation of futures business in 2023. Additionally, the trading volumes for both proprietary business and market-making activities in futures and options have positions in the Top 5.

Operating Strategy

The department continues to expand its product diversification and revises its risk control methods to respond to new rules, upgrading the department's risk control capabilities.

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Financial Product Business

Market Share

The Equity Options Business maintains its position as the highest market share holder, while the volume of Structured Notes secures a market share ranking of third. Additionally, the issuance of call (put) warrants attains a market share ranking of seventh.

Marketing Campaign

The initial stage optimization of the warrant system has been completed, and the department is currently designing advanced functions in 2024. We are striving to enhance the efficiency of the trading system further.

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President Securities Corporation | Tel : (02)8172-4668 | Add: No.8, Dongxing Rd., Songshan Dist., Taipei City , Taiwan

Stable Payout Ratio(Proposed)

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2.75
2.48
1.98
1.69
EPS
Stock Dividend
Cash Dividend 1.89
1.50
0.5 1.32
1.00
0.39
2019 2020 2021 2022 2023 2023
Payout Ratio 71% 77% 69% 78% 67%
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President Securities Corporation | Tel : (02)8172-4668 | Add: No.8, Dongxing Rd., Songshan Dist., Taipei City , Taiwan

AWARDS

1ST Sustainable Finance Evaluation

Top 20% in Securities Industry

16TH Taiwan Corporate Sustainability Awards

Institutional Investor Stewardship Disclosure

List of better disclosure in 2023

• Best Performance

• Taiwan Sustainability Corporate - - Sustainability Report

• Finance and Insurance Gold Prize

Best Wealth Management of Banks and Securities

Best Wealth Added Best Customer Satisfaction

Wealth Management Award

Best Public Welfare Promotion Best Wealth Added Best Marketing

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President Securities Corporation | Tel : (02)8172-4668 | Add: No.8, Dongxing Rd., Songshan Dist., Taipei City , Taiwan

Q&A

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