PSC — Annual Report 2024

Feb 27, 2025

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2025.02.27

• ⚫

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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

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Global economy is stabilizing and inflation is improving, but facing high uncertainty.

• Based on the latest IMF forecast, global economic growth is expected at 3.2% in 2024 and is projected at 3.3% in 2025&2026.

• The global inflation rate for 2024 is projected to be 4.2%, with political uncertainty potentially affecting financial environment.

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The U.S. postponed interest rate cuts, and President Trump is influencing worldwide economic.

• The FED decided to pause interest rate cuts, with Chairman Jerome Powell reiterating concerns about the strong economy, low unemployment rate , and high inflation which is still above 2%.

• President Trump show a tough stance on issues such as tariffs, immigration, and reducing government spending.

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China's economic is supported by exports, but struggling with domestic demand and real estate market.

• The GDP growth rate for 2024 is 5%, but cumulative real estate investment decreased by 10.6% year-on-year.

• In 2024, the export growth rate is 7.1%. However, the China-US tariff conflict poses new challenges for the economy.

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Economic of Taiwan remains stable, with strong growth in private sector investment.

• The Directorate General of Budget has estimated GDP growth rate is 4.59% for 2024, and NDC's monitoring indicators is Red light in January .

• The strong demand of AI products is benefiting exports, private investment, and private consumption. The GDP growth rate for 2025 is forecasted to be 3.14%.

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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.
1,760
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
統一綜合證券 President Securities (Hong Kong) LimitedJinYuan 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

Consolidated Balance Sheets ITEM 2024年 % 2023年 % YOY Current Assets 183,285 95% 131,335 93% 40% Non-Current Assets 10,188 5% 9,330 7% 9% Total Assets 193,473 100% 140,665 100% 38% Current Liabilities 157,855 82% 108,355 77% 46% Non-Current Liabilities 225 0% 168 0% 34% Total Liabilities 158,080 82% 108,523 77% 46% Capital Common Stock 14,558 8% 14,558 10% 0% Other Equity 20,835 10% 17,584 13% 18% Total Equity 35,393 18% 32,142 23% 10%	Consolidated Balance Sheets ITEM 2024年 % 2023年 % YOY Current Assets 183,285 95% 131,335 93% 40% Non-Current Assets 10,188 5% 9,330 7% 9% Total Assets 193,473 100% 140,665 100% 38% Current Liabilities 157,855 82% 108,355 77% 46% Non-Current Liabilities 225 0% 168 0% 34% Total Liabilities 158,080 82% 108,523 77% 46% Capital Common Stock 14,558 8% 14,558 10% 0% Other Equity 20,835 10% 17,584 13% 18% Total Equity 35,393 18% 32,142 23% 10%	Consolidated Balance Sheets ITEM 2024年 % 2023年 % YOY Current Assets 183,285 95% 131,335 93% 40% Non-Current Assets 10,188 5% 9,330 7% 9% Total Assets 193,473 100% 140,665 100% 38% Current Liabilities 157,855 82% 108,355 77% 46% Non-Current Liabilities 225 0% 168 0% 34% Total Liabilities 158,080 82% 108,523 77% 46% Capital Common Stock 14,558 8% 14,558 10% 0% Other Equity 20,835 10% 17,584 13% 18% Total Equity 35,393 18% 32,142 23% 10%	Consolidated Balance Sheets ITEM 2024年 % 2023年 % YOY Current Assets 183,285 95% 131,335 93% 40% Non-Current Assets 10,188 5% 9,330 7% 9% Total Assets 193,473 100% 140,665 100% 38% Current Liabilities 157,855 82% 108,355 77% 46% Non-Current Liabilities 225 0% 168 0% 34% Total Liabilities 158,080 82% 108,523 77% 46% Capital Common Stock 14,558 8% 14,558 10% 0% Other Equity 20,835 10% 17,584 13% 18% Total Equity 35,393 18% 32,142 23% 10%
	ITEM	2024年 % 2023年 %	YOY 40% 9% 38% 46% 34% 46% 0% 18% 10%
	Current Assets Non-Current Assets	183,285 95% 131,335 93% 10,188 5% 9,330 7%
	Total Assets	193,473 100% 140,665 100% 157,855 82% 108,355 77% 225 0% 168 0%
	Current Liabilities Non-Current Liabilities
	Total Liabilities	158,080 82% 108,523 77% 14,558 8% 14,558 10% 20,835 10% 17,584 13%
	Capital Common Stock Other Equity
	Total Equity	35,393 18% 32,142 23%

Unit：Million NTD

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

Consolidated Income Statement

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ITEM 2024年 % 2023年 % YoY
Revenues 13,030 100% 9,543 100% 37%
Operating Expenses 9,369 72% 7,221 76% 30%
Operating Income 3,661 28% 2,322 24% 58%
Other Income and Costs 1,269 10% 893 10% 42%
Income Before Tax 4,930 38% 3,215 34% 53%
Income Tax Expense 543 4% 325 4% 67%
Net Income 4,387 34% 2,890 30% 52%
Other Comprehensive Income 794 6% 18 0% 4311%
Total Comprehensive Income 5,181 40% 2,908 30% 78%
- -
EPS(NTD) 3.00 1.98 52%
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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
130.30
116.22
95.81 95.43
100 3.00
2.75
2.48
62.71 1.98
50 40.11 43.87
36.15
0.5 28.90
7.36
0
2020 2021 2022 2023 2024 2024 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

Market Position

As of the end of 2024, the funds balance in customer ledgers has grown by more than double compared to the end of 2023, and has tripled compared to the end of 2022. Moving forward, efforts will continue to optimize the user experience of customer ledgers.

System Improvement

The RPA robots and electronic signatures have been integrated into the account opening process. This not only shorten clients review time, but also moves towards paperless online account opening.

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Proprietary Trading

Operating Status

In 2024, the department accurately grasped the market timing, riding the wave of AI advancements. Meanwhile, addressed correction risks proactively. By effective capital management and team collaboration, profits were generated.

Operational Strategy

Looking ahead to 2025Q1, there will be uncertainty surrounding the potential risk of the President Donald Trump. Changes in tariff policies and pressure on Taiwanese businesses are expected to bring significant impacts. The department will maintain flexibility and a cautious approach.

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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

Market has overestimated the interest rate cuts, and with the U.S. economy stabilizing, bond yields have rebounded , which has influenced the department's performance.

Market Expectations

The U.S. economy is filled with uncertainty, but with declining capital costs and the potential rebound in bond demand, the department will wait for trading opportunities.

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Underwriting Business

Underwriting Performance

The profits from securities sales exceeded expectations, and market participation increased. However, market share declined due to a slower-progress in main projects.

Development Strategy

The department will continuing to participate in market positioning and expanding business market share.

Wealth Management

Investment Trust

The rate of Specific Standalone Money Trust Business ranked fourth , and Foreign bonds has grown 107% compared to 2023. Offshore Structured Notes have also shown exceptional performance this year.

Marketing Campaign

The overseas investment marketing campaigns and internal incentive activities for product trading will continue to be launched in 2025, aiming to increase the visibility of various products.

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

Business Development

Quantitative Trading

Business Profile

The net asset value per share ranks fifth among futures proprietary traders, the department will keep increase the diversity of domestic and international trading businesses to reduce the single market risk, and continuously optimizing risk management mechanisms and IT systems.

Operating Strategy

In response to international circumstances and market fluctuations, the department will continue to incorporate trading models with different risks, aiming to enhance performance while reducing risk.

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Financial Product Business

Market Share

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

Marketing Campaign

The department will continue to develop new types of businesses in the future, and is currently discussing relevant regulations with the regulatory authorities, in order to provide investors more diverse financial tools.

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

Stable Payout Ratio

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3
2.75
2.48
EPS
1.98
Stock Dividend
0.40
1.00
Cash Dividend
1.89
1.50 0.5
1.32
1.10
0.39
2020 2021 2022 2023 2024 2024
Payout Ratio 77% 69% 78% 67% 70%
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Note: The 2024 profit distribution has already been approved by the board of directors in the first quarter.

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

AWARDS

Business Today

Best

Sustainability Development First Prize

Commercial Times

Digital Fair Hospitality Award Golden Prize

Taiwan Corporate Sustainability Awards

“ Top 100 Exemplary Companies in Sustainability Award” “Corporate Sustainability Report Platinum Medal Award”

Diversity Trust Innovation Award

“Best Securities Wealth Management Trust Innovation Award” “Best Employee Welfare Trust Innovation Award ”

Taiwan Stock Exchange 2023 & 2024 Stewardship Principles for Institutional Investors

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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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