PSC — Audit Report / Information 2022

Nov 4, 2022

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY FINANCIAL

STATEMENTS AND INDEPENDENT AUDITORS’

REPORT

DECEMBER 31, 2022 AND 2021

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For the convenience of readers and for information purpose only, the auditors’ report and the accompanying financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. In the event of any discrepancy between the English version and the original Chinese version or any differences in the interpretation of the two versions, the Chinese-language auditors’ report and financial statements shall prevail.

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INDEPENDENT AUDITORS’ REPORT TRANSLATED FROM CHINESE

PWCR22003960

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, 2022 and 2021, 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 significant accounting policies.

In our opinion, 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, 2022 and 2021, 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 Auditing and Attestation of Financial Statements by 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 2022 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.

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The key audit matters of the Company’s 2022 parent company only financial statements are 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, 2022, the unlisted stocks without active market held by the Company totaled 294,855 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 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.

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Impairment indication assessment of investments accounted for under the equity method

Description

Please refer to Note 4(13) for accounting policies on investments accounted for under the equity method and its impairment, Note 5(2) for the uncertainty of accounting estimates and assumptions applied on asset impairment, and Note 6(11) for details of investments accounted for under the equity method.

The Company held 42.46% of equity of Uni-President Asset Management Corp. which was accounted for under the equity method, and the excess of the carrying amount over the share of the investee company’s net assets is mainly goodwill. As of December 31, 2022, the amount was 747,473 thousand New Taiwan Dollars. Impairment assessment is based on the expected future cash flow of the investee, discounted at an appropriate discount rate, to measure the recoverable amount of the cash generating unit.

The recoverable amount of the investee is based on its expected future cash flows which involve multiple estimates and assumptions on discount rate and financial forecast. These are subjective judgements, have a high degree of uncertainties, and are material to the recoverable amount. Thus, we consider the impairment assessment of investments accounted for under the equity method as one of the matters of most significance to our audit.

How our audit addressed the matter

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

• 1.Obtained the impairment assessment report prepared by an external valuation expert who was commissioned by the management and reviewed the achievement of the past financial forecast to assess its execution;

• 2.Assessed the reasonableness of expected future cash flows, discount rate and other significant assumptions applied in the cash flow model; and

• 3.Inspected valuation model parameters, formula setting and the accuracy of calculation.

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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 Issuers, 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:

1. 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.

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1. 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.

2. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

3. 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.

4. 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.

5. 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.

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 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

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of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Lin, Se-Kai Independent Auditors Lo, Chiao-Sen

For and on behalf of PricewaterhouseCoopers, Taiwan March 8, 2023

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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 Standards on Auditing of 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.

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PRESIDENT SECURITIES CORPORATION PARENT COMPANY ONLY BALANCE SHEETS DECEMBER 31, 2022 AND 2021

(Expressed in thousands of New Taiwan dollars)

Assets	Notes 6(1) 6(2) 6(3) 6(4) 6(5) 6(6) 6(6) 6(7) 6(8) 6(2) 6(3) 6(11) 6(12) 6(13) 6(15) 6(16) 6(46) 6(17)	December31,2022 AMOUNT % $ 3,192,794 4 24,015,200 33 2,497,782 3 - - 10,533,221 14 94,136 - 72,399 - 4,094,908 6 1,159,577 2 3,377,630 5 763 - 10,129,755 14 4,717 - 33,654 - 16,656 - 1,870,428 2 61,093,620 83 66,383 - 294,855 1 8,085,345 11 2,413,110 3 155,095 - 266,302 - 187,393 - 103,665 - 1,071,888 2 12,644,036 17 $ 73,737,656 100	December31,2021	December31,2021
		AMOUNT $ 3,192,794 24,015,200 2,497,782 - 10,533,221 94,136 72,399 4,094,908 1,159,577 3,377,630 763 10,129,755 4,717 33,654 16,656 1,870,428 61,093,620 66,383 294,855 8,085,345 2,413,110 155,095 266,302 187,393 103,665 1,071,888 12,644,036 $ 73,737,656	AMOUNT $ 3,082,958 33,286,663 410,205 27,401 18,344,751 29,930 24,933 1,581,993 401,019 1,437,295 470 16,549,427 4,792 21,059 5,709 7,992,320 83,200,925 62,774 258,627 7,518,999 2,271,270 191,960 268,402 145,690 155,567 1,117,438 11,990,727 $ 95,191,652	%
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 114010 Bonds purchased under resale agreements 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 Noncurrent 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 35 1 - 19 - - 2 - 2 - 17 - - - 8
				87
				- - 8 3 - 1 - - 1
				13
				100

(Continued)

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PRESIDENT SECURITIES CORPORATION PARENT COMPANY ONLY BALANCE SHEETS DECEMBER 31, 2022 AND 2021

(Expressed in thousands of New Taiwan dollars)

Liabilities and Equity	Notes 6(18) 6(19) 6(20) 6(21) 6(22) 6(23) 6(24) 6(46) 6(46) 6(25) 6(27) 6(27) 6(27)(28)	December31,2022 AMOUNT % $ 275,000 - 5,827,431 8 9,156,084 12 6,965,424 10 1,809,356 3 1,809,962 3 1,806,591 2 269,029 - 10,730,645 15 29 - 743,518 1 1,443,038 2 2,784,086 4 128,431 - 65,653 - 72,006 - 43,886,283 60 15,418 - 82,231 - 11,317 - 23,315 - 132,281 - 44,018,564 60 14,558,313 20 91,261 - 3,877,849 5 9,090,989 12 816,933 1 1,283,747 2 29,719,092 40 $ 73,737,656 100	December31,2021	December31,2021
		AMOUNT $ 275,000 5,827,431 9,156,084 6,965,424 1,809,356 1,809,962 1,806,591 269,029 10,730,645 29 743,518 1,443,038 2,784,086 128,431 65,653 72,006 43,886,283 15,418 82,231 11,317 23,315 132,281 44,018,564 14,558,313 91,261 3,877,849 9,090,989 816,933 1,283,747 29,719,092 $ 73,737,656	AMOUNT $ 590,000 8,648,558 8,171,735 9,643,040 1,202,587 1,559,162 1,969,207 97,996 17,421,499 481 5,739,850 2,499,848 4,983,139 628,676 62,878 73,094 63,291,750 14,079 120,489 - 81,750 216,318 63,508,068 14,558,313 91,261 3,487,748 8,314,199 3,922,562 1,309,501 31,683,584 $ 95,191,652	%
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				1 9 9 10 1 2 2 - 18 - 6 3 5 1 - -
				67
				- - - -
				-
				67
				15 - 4 9 4 1
				33
				100

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

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PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2022 AND 2021

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

Items

YearendedDecember31 2022 2021 Notes AMOUNT % AMOUNT % 6(29) $ 2,382,066 45 $ 4,153,616 39 6(30) 86,465 2 104,035 1 38,150 1 32,127 - 6(31) ( 3,250,617 ) ( 62) 8,738,972 83 88,788 2 85,817 1 6(32) 940,469 18 1,159,210 11 1,274,795 24 451,249 4 6(33) ( 916,440 ) ( 17) ( 862,680) ( 8 ) 6(34) 482,271 9 ( 181,893) ( 2 ) 6(35) 1,381,017 26 ( 313,159) ( 3 ) 546,571 10 76,579 1 11,799 - 17,312 - 6(36) 1,473,984 28 ( 2,896,956) ( 27 ) 43,532 1 42,884 - 6(37) 123,408 2 ( 655,306) ( 6 ) 6(38) 21,973 1 11,158 - 6(39) 545,860 10 615,039 6 5,274,091 100 10,578,004 100 6(40) ( 364,342 ) ( 7) ( 560,293) ( 5 ) ( 9,634 ) - ( 6,863) - 6(41) ( 163,518 ) ( 3) ( 88,091) ( 1 ) ( 84 ) - ( 302) - ( 21,420 ) ( 1) ( 14,089) - ( 2 ) - ( 3,049) - 6(42) ( 2,141,940 ) ( 41) ( 3,615,086) ( 34 ) 6(43) ( 224,108 ) ( 4) ( 175,565) ( 2 ) 6(44) ( 1,636,888 ) ( 31) ( 1,851,991) ( 18 ) ( 4,561,936 ) ( 87) ( 6,315,329) ( 60 ) 712,155 13 4,262,675 40 6(11) 32,394 1 213,779 2 6(45) 168,133 3 156,325 2 912,682 17 4,632,779 44 6(46) ( 183,314 ) ( 3) ( 625,344) ( 6 ) $ 729,368 14 $ 4,007,435 38

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 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 Finance 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 902001Profit before tax 701000 Income tax (expense) benefit 902005Net income

(Continued)

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PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2022 AND 2021

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

Items

YearendedDecember31 2022 2021 Notes AMOUNT % AMOUNT % $ 99,796 2 ($ 127,326) ( 1 ) 6(3) ( 74,826 ) ( 2) 128,987 1 9,882 - 376,356 3 6(46) ( 19,959 ) - 25,465 - 168,819 3 ( 34,891) - ( 126,051) ( 2) - - $ 57,661 1 $ 368,591 3 $ 787,029 15 $ 4,376,026 41 6(47) $ 0.50 $ 2.75 $ 0.50 $ 2.75

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 gain (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 of 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) 902006Total current comprehensive income Earnings per share 975000 Basic earnings per share (in dollars) 985000 Diluted earnings per share (in dollars)

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

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PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2022 AND 2021

(Expressed in thousands of New Taiwan dollars)

For the year ended December 31, 2021 Balance at January 1, 2021 Net income for the year ended December 31, 2021 Other comprehensive income (loss) for the year ended December 31, 2021 Total comprehensive income (loss) Appropriations of 2020 earnings Legal reserve Special reserve Cash dividends Stock dividends Balance at December 31, 2021 For the year ended December 31, 2022 Balance at January 1, 2022 Net income for the year ended December 31, 2022 Other comprehensive income (loss) for the year ended December 31, 2022 Total comprehensive income (loss) Appropriations of 2021 earnings: Legal reserve Special reserve Cash dividends Balance at December 31, 2022	Notes		Commonstock		Capital reserve				RetainedEarnings			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 comprehensive income
	6(28) 6(28)		$ 13,998,378 - - - - - - 559,935 $ 14,558,313 $ 14,558,313 - - - - - - $ 14,558,313		$ 91,261 - - - - - - - $ 91,261 $ 91,261 - - - - - - $ 91,261		$ 3,111,013 - - - 376,735 - - - $ 3,487,748 $ 3,487,748 - - - 390,101 - - $ 3,877,849		$ 7,600,316 - - - - 713,883 - - $ 8,314,199 $ 8,314,199 - - - - 776,790 - $ 9,090,989	$ 3,771,859 4,007,435 ( 106,422 ) 3,901,013 ( 376,735 ) ( 713,883 ) ( 2,099,757 ) ( 559,935 ) $ 3,922,562 $ 3,922,562 729,368 83,415 812,783 ( 390,101 ) ( 776,790 ) ( 2,751,521 ) $ 816,933		($ 30,918 ) - ( 34,891 ) ( 34,891 ) - - - - ($ 65,809 ) ($ 65,809 ) - 168,819 168,819 - - - $ 103,010	$ 865,406 - 509,904 509,904 - - - - $ 1,375,310 $ 1,375,310 - ( 194,573 ) ( 194,573 ) - - - $ 1,180,737	$ 29,407,315 4,007,435 368,591 4,376,026 - - ( 2,099,757 ) - $ 31,683,584 $ 31,683,584 729,368 57,661 787,029 - - ( 2,751,521 ) $ 29,719,092

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

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PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2022 AND 2021

(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 credit impairment loss and reversal of impairment gain Depreciation Amortization Financial expense Interest income (include financial income) Dividend income Share of profit of subsidiaries, associates and joint ventures accounted for under the equity method (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 assets relating to operating activities Financial assets at fair value through profit or loss Financial assets at fair value through other comprehensive income Bonds purchased under resale agreements 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 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 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 2022 2021 $ 912,682 $ 4,632,779 6(2)(33) 916,440 862,680 6(35) ( 1,381,017 ) 313,159 6(38) ( 20,627 ) ( 7,846 ) 6(43) 179,026 150,889 6(43) 45,082 24,676 6(41) 163,518 88,091 6(32)(45) ( 976,711 ) ( 1,169,070 ) ( 1,283,723 ) ( 462,602 ) 6(11) ( 32,394 ) ( 213,779 ) ( 98 ) ( 7 ) 6(45) ( 1,575 ) 4,901 8,353,180 6,679,835 ( 2,259,620 ) - 27,401 ( 27,401 ) 7,830,648 ( 6,085,072 ) ( 64,206 ) 21,602 ( 47,466 ) 17,956 ( 2,512,915 ) ( 293,866 ) ( 758,558 ) ( 160,223 ) ( 1,940,335 ) ( 430,205 ) ( 293 ) 267 6,452,778 1,120,283 75 ( 379 ) ( 12,595 ) ( 596 ) ( 2,352 ) 3,739 6,121,892 ( 5,835,733 ) 2,365,366 5,236,435 ( 2,677,616 ) ( 9,453,125 ) 606,769 ( 178,883 ) 250,800 ( 250,793 ) ( 162,616 ) 1,065,355 171,033 69,891 ( 6,753,787 ) ( 555,071 ) ( 452 ) 149 ( 4,996,332 ) 4,641,176 ( 1,058,011 ) 524,317 ( 2,199,053 ) ( 1,025,171 ) ( 1,088 ) ( 3,380 )

(Continued)

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PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2022 AND 2021

(Expressed in thousands of New Taiwan dollars)

Cash inflow (outflow) generated from operations Interest received Dividends received Income tax paid Net cash flows from operating activities CASH FLOWS FROM INVESTING ACTIVITIES Investments accounted for under the equity method Acquisition of property and equipment Acquisition of intangible assets (Increase) decrease in other non-current assets (Increase) decrease 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 Net cash flows used in financing activities Effect of exchange rate changes on cash and cash equivalents 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 2022 2021 $ 5,253,250 ( $ 695,022 ) 986,104 1,079,490 1,581,926 713,513 ( 640,299 ) ( 354,754 ) 7,180,981 743,227 ( 656,781 ) - 6(12) ( 92,318 ) ( 46,729 ) 6(16) ( 41,626 ) ( 41,381 ) 65,734 ( 84,734 ) ( 179,610 ) ( 123,975 ) ( 904,601 ) ( 296,819 ) ( 315,000 ) 11,024 ( 2,820,000 ) 1,350,000 ( 104 ) ( 969 ) ( 67,984 ) ( 67,865 ) ( 147,935 ) ( 94,833 ) 6(28) ( 2,751,521 ) ( 2,099,757 ) ( 6,102,544 ) ( 902,400 ) ( 64,000 ) 31,834 109,836 ( 424,158 ) 3,082,958 3,507,116 $ 3,192,794 $ 3,082,958

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

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PRESIDENT SECURITIES CORPORATION

NOTES TO THE PARENT COMPANY ONLY FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021

(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

1. HISTORY AND ORGANIZATION

• 1) President Securities Corporation (the “Company”) was incorporated as a company limited by shares under the provisions of the Company Law of the Republic of China (R.O.C.) on December 17, 1988 and was renamed as President Securities Corporation on March 4, 1989. The Company started commercial operations on April 3, 1989. As of December 31, 2022, the Company had 31 operating branches (including the Head Office) and established Offshore Securities Unit in July 2014.

• 2) The Company is primarily engaged in underwriting of securities, dealing or brokerage business of securities at the securities exchange markets and business premises, registration and transfer agency service for securities, margin loans and short sales business of securities, securities lending and borrowing business, futures introducing brokerage services, futures dealing, issuance of call (put) warrants, new financial instrument transactions, wealth management business, and trust business.

• 3) The Company’s shares are listed on the Taiwan Stock Exchange.

• 4) The number of employees of the Company were 1,463 and 1,447, as of December 31, 2022 and 2021, respectively.

• THE DATE OF AUTHORIZATION FOR ISSUANCE OF THE FINANCIAL

STATEMENTS AND PROCEDURES FOR AUTHORIZATION

These parent company only financial statements were authorized for issuance by the Board of Directors on March 8, 2023.

3. APPLICATION OF NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS

• 1) Effect of the adoption of new issuances of or amendments to International Financial Reporting Standards (“IFRS”) that came into effect as endorsed by the Financial Supervisory Commission (“FSC”)

New standards, interpretations and amendments that came into effect as endorsed by FSC and became effective from 2022 are as follows:

and became effective from 2022 are as follows:
New Standards,Interpretations and Amendments	Effective Date by International Accounting Standards Board
Amendments to IFRS 3,‘Reference to the conceptual framework’ Amendments to IAS 16, ‘Property, plant and equipment: proceeds before intended use’ Amendments to IAS 37, ‘ Onerous contracts – cost of fulfilling a contract’ Annual improvements to IFRS Standards 2018–2020	January 1, 2022 January 1, 2022 January 1, 2022 January 1, 2022

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The above standards and interpretations have no significant impact to the Company’s financial condition and financial performance based on the Company’s assessment.

• 2) Effect of new issuances of or amendments to IFRSs that came into effect as endorsed by the FSC but not yet adopted by the Company

New standards, interpretations and amendments that came into effect as endorsed by FSC effective from 2023 are as follows:

the FSC but not yet adopted by the Company New standards, interpretations and amendments that came into effect effective from 2023 are as follows:	as endorsed by FSC
	Effective Date by
	International Accounting
New Standards,Interpretations and Amendments	Standards Board
Amendments to IAS 1, ‘Disclosure of accounting policies’	January 1, 2023
Amendments to IAS 8, ‘Definition of accounting estimates’	January 1, 2023
Amendments to IAS 12, ‘ Deferred tax related to assets and liabilities arising from a single transaction’	January 1, 2023

The above standards and interpretations have no significant impact to the Company’s financial condition and financial performance based on the Company’s assessment.

3) IFRSs issued by IASB but not yet endorsed by the FSC

New standards, interpretations and amendments issued by IASB but not yet included in the IFRSs endorsed by the FSC are as follows:

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Effective Date by
International Accounting
New Standards, Interpretations and Amendments Standards Board
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New Standards, Interpretations and Amendments	Effective Date by International Accounting Standards Board
Amendments to IFRS 10 and IAS 28, ‘Sale or contribution of assets	To be determined by
between an investor and its associate or joint venture’	International Accounting
	Standards Board
Amendments to IFRS 16, ‘Lease liability in a sale and leaseback’	January 1, 2024
IFRS 17, ‘Insurance contracts’	January 1, 2023
Amendments to IFRS 17,‘Insurance contracts’	January 1, 2023
Amendment to IFRS 17,‘Initial application of IFRS 17 and IFRS 9 – comparative information’	January 1, 2023
Amendments to IAS 1,‘Classification of liabilities as current or non-current’	January 1, 2024
Amendments to IAS 1, ‘Non-current liabilities with covenants’	January 1, 2024

The above standards and interpretations have no significant impact to the Company’s financial condition and financial performance based on the Company’s assessment.

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The principal accounting policies applied in the preparation of the Company’s financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

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1) Compliance statement

• The financial statements of the Company have been prepared 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”.

2) Basis of preparation

• A. Except for the following items, these financial statements have been prepared under the historical cost convention:

• (A) Financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss.

• (B) Financial assets at fair value through other comprehensive income.

• (C) Defined benefit liabilities recognized based on the net amount of pension fund assets less present value of defined benefit obligations.

• B. The preparation of financial statements in conformity with International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretation that came into effect as endorsed by the FSC (collectively referred herein as the “IFRSs”) requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 5.

3) Classification of current and non-current items

• A. Assets that meet one of the following criteria are classified as current assets; otherwise they are classified as non-current assets:

• (A) Assets arising from operating activities that are expected to be realized, or are intended to be sold or consumed within the normal operating cycle;

• (B) Assets held mainly for trading purposes;

• (C) Assets that are expected to be realized within twelve months from the balance sheet date;

• (D) Cash and cash equivalents, excluding restricted cash and cash equivalents and those that are to be exchanged or used to pay off liabilities more than twelve months after the balance sheet date.

• B. Liabilities that meet one of the following criteria are classified as current liabilities; otherwise they are classified as non-current liabilities:

• (A) Liabilities that are expected to be paid off within the normal operating cycle;

• (B) Liabilities arising mainly from trading activities;

• (C) Liabilities that are to be paid off within twelve months from the balance sheet date;

• (D) Liabilities for which the repayment date cannot be extended unconditionally to more

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than twelve months after the balance sheet date. Terms of a liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do not affect its classification.

• 4) Translation of foreign currency transactions

• A. Foreign currency translation and presentation

  • Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the “functional currency”). Functional currency and bookkeeping currency of the Company is New Taiwan Dollars.

• B. Foreign currency transactions and balances

  • Foreign currency transactions denominated in a foreign currency or required to settle in a foreign currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions.

  • Assets and liabilities denominated in foreign currency are translated by the closing exchange rate at balance sheet date. The closing exchange rate is determined by the market exchange rate. Non-monetary assets and liabilities denominated in foreign currencies which are carried at historical cost are re-translated at the exchange rates prevailing at the original transaction date. Non-monetary assets and liabilities denominated in foreign currencies held at fair value through profit or loss are retranslated at the exchange rates prevailing at the balance sheet date; their translation differences are recognized in profit or loss. Non-monetary assets and liabilities denominated in foreign currencies held at fair value through other comprehensive income are re-translated at the exchange rates prevailing at the balance sheet date; their translation differences are recognized in other comprehensive income.

• C. Translation of foreign operations

  • The operating results and financial position of all the company entities, associates and joint arrangements that have a functional currency different from the presentation currency are translated into the presentation currency as follows:

  • (A) Assets and liabilities for each balance sheet presented are translated at the closing exchange rate at the date of that balance sheet;

  • (B) Income and expenses for each statement of comprehensive income are translated at average exchange rates of that period; and

  • (C) All resulting exchange differences are recognized in other comprehensive income.

• 5) Cash and cash equivalents

• A. In the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with banks, and other short-term highly liquid investments.

• B. Cash equivalents refer to short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of

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changes in value. Time deposits that meet the definition above and are held for the purpose of meeting short-term cash commitments in operations are classified as cash equivalents.

• 6) Financial assets at fair value through profit or loss

• A. Financial assets at fair value through profit or loss are financial assets that are not measured at amortized cost or fair value through other comprehensive income.

• B. On a regular way purchase or sale basis, financial assets at fair value through profit or loss are recognized and derecognized using trade date accounting.

• C. At initial recognition, the Company measures the financial assets at fair value and recognizes the transaction costs in profit or loss. The Company subsequently measures the financial assets at fair value and recognizes the gain or loss in profit or loss.

• D. The Company recognizes the dividend income when the right to receive payment is established, future economic benefits associated with the dividend will flow to the Company and the amount of the dividend can be measured reliably.

• 7) Financial assets at fair value through other comprehensive income

• A. Financial assets at fair value through other comprehensive income comprise equity securities which are not held for trading, and for which the Company has made an irrevocable election at initial recognition to recognize changes in fair value in other comprehensive income and debt instruments which meet all of the following criteria:

  • (A)The objective of the Company’s business model is achieved both by collecting contractual cash flows and selling financial assets; and

  • (B)The assets’ contractual cash flows represent solely payments of principal and interest.

• B. On a regular way purchase or sale basis, financial assets at fair value through other comprehensive income are recognized and derecognized using trade date accounting.

• C. At initial recognition, the Company measures the financial assets at fair value plus transaction costs. The Company subsequently measures the financial assets at fair value:

  • (A)The changes in fair value of equity investments that were recognized in other comprehensive income are reclassified to retained earnings and are not reclassified to profit or loss following the derecognition of the investment. Dividends are recognized as revenue when the right to receive payment is established, future economic benefits associated with the dividend will flow to the Company and the amount of the dividend can be measured reliably.

  • (B)Except for the recognition of impairment loss, interest income and gain or loss on foreign exchange which are recognized in profit or loss, the changes in fair value of debt instruments are taken through other comprehensive income. When the financial asset is derecognized, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss.

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• 8) Notes and accounts receivable, other receivables and margin loans receivable

• A. Accounts and notes receivable and margin loans receivables entitle the Company a legal right to receive consideration in exchange for transferred goods or rendered services.

• B. The short-term accounts and notes receivable without bearing interest are subsequently measured at initial invoice amount as the effect of discounting is immaterial.

• 9) Bonds sold under repurchase agreements and bonds purchased under resale agreements Bond transactions under repurchase or resale agreements are stated at the amount of actual payment or receipt. When transactions of bonds with a condition of resale agreements occur, the actual payment or receipt shall be recognized in ‘bonds purchased under resale agreements’ under current assets. When transactions of bonds with a condition of repurchase agreements occur, the actual payment or receipt shall be recognized in ‘bonds sold under repurchase agreements’ under current liabilities. Any difference between the actual payment/receipt and predetermined redemption (repurchase) price is recognized in interest income or interest expense.

• 10) Impairment of financial assets

For debt instruments measured at fair value through other comprehensive income, at each reporting date, the Company recognizes the impairment provision for 12 months expected credit losses if there has not been a significant increase in credit risk since initial recognition or recognizes the impairment provision for the lifetime expected credit losses (ECLs) if such credit risk has increased since initial recognition after taking into consideration all reasonable and verifiable information that includes forecasts. On the other hand, for accounts receivable or contract assets that do not contain a significant financing component, the Company recognizes the impairment provision for lifetime ECLs.

• 11) Derecognition of financial instruments

• A. Derecognition of financial assets

  • The Company derecognizes a financial asset when one of the following conditions is met:

  • (A) The contractual rights to receive cash flows from the financial asset expire.

  • (B) The contractual rights to receive cash flows from the financial asset have been transferred and the Company has transferred substantially all risks and rewards of ownership of the financial asset.

  • (C) The contractual rights to receive cash flows of the financial asset have been transferred; however, the Company has not retained control of the financial asset.

• B. Derecognition of financial liabilities

  • A financial liability is derecognized when the obligation under the liability specified in the contract is discharged or cancelled or expires.

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12) Offsetting financial instruments

Financial assets and liabilities are offset and reported in the net amount in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.

13) Investments accounted for under the equity method/Subsidiaries and associates

• A. Subsidiaries are all entities (including structured entities) controlled by the Company. The Company controls an entity when the Company is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Investments in subsidiaries are accounted for using the equity method and are initially recognized at cost.

• B. Unrealized gains on transactions between the Company and its subsidiaries are eliminated to the extent of the Company’s interest in the subsidiaries. Accounting policies of subsidiaries have been adjusted where necessary to ensure consistency with the policies adopted by the Company.

• C. The Company’s share of its subsidiaries’ post-acquisition profits or losses is recognized in profit or loss, and its share of post-acquisition movements in other comprehensive income is recognized in other comprehensive income. When the Company’s share of losses in a subsidiary equals or exceeds its interest in the subsidiary, including any other unsecured receivables, the Company does not recognize further losses.

• D. Associates are all entities over which the Company has significant influence but not control. In general, it is presumed that the investor has significant influence, if an investor holds, directly or indirectly 20 percent or more of the voting power of the investee. Investments in associates are accounted for using the equity method and are initially recognized at cost.

• E. The Company’s share of its associates’ post-acquisition profits or losses is recognized in profit or loss, and its share of post-acquisition movements in other comprehensive income is recognized in other comprehensive income. When the Company’s share of losses in an associate equals or exceeds its interest in the associate, including any other unsecured receivables, the Company does not recognize further losses, unless it has incurred statutory/constructive obligations or made payments on behalf of the associate.

• F. When changes in an associate’s equity that are not recognized in profit or loss or other comprehensive income of the associate and such changes not affecting the Company’s ownership percentage of the associate, the Company recognizes its share of change in

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equity of the associate in ‘capital surplus’ in proportion to its ownership.

• G. Unrealized gains on transactions between the Company and its associates are eliminated to the extent of the Company’s interest in the associates. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been adjusted where necessary to ensure consistency with the policies adopted by the Company.

• H. According to "Regulations Governing the Preparation of Financial Reports by Securities Firms", the profit or loss for the period and other comprehensive income presented in parent company only financial reports shall be the same as the allocations of profit or loss for the period and of other comprehensive income attributable to owners of the parent presented in the financial reports prepared on a consolidated basis, and the owners' equity presented in the parent company only financial reports shall be the same as the equity attributable to owners of the parent presented in the financial reports prepared on a consolidated basis.

• I. When there are objective evidences of impairment, at balance sheet date, the Company considers the whole investment carrying amount as single asset, and compares its recoverable amount (value in use or fair value less costs of disposal) with the carrying amount, to test its impairment. Value in use is determined by the present value of the Company’s share of the expected future cash flow from the associates. If the recoverable amount is less than its carrying amount, an impairment loss should be recognized. The loss will not be allocated to any of the components (including goodwill), which comprise the carrying amount of the investment. An impairment loss recognized in prior periods shall be reversed if circumstances of impairment no longer exist or have decreased.

14) Property and equipment

• A. Property and equipment are initially recorded at cost. Borrowing costs incurred during the construction period are capitalized.

• B. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognized. All other repairs and maintenance are charged to profit or loss during the financial period in which they are incurred.

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• C. Land is not depreciated. Other property and equipment are subsequently measured using the cost model and depreciated using the straight-line method to allocate their cost over their estimated useful lives.

• D. The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each balance sheet date. If expectations for the assets’ residual values and useful lives differ from previous estimates or the patterns of consumption of the assets’ future economic benefits embodied in the assets have changed significantly, any change is accounted for as a change in estimate under IAS 8, ‘Accounting Policies, Changes in Accounting Estimates and Errors’, from the date of the change. The estimated useful lives of property and equipment are as follows:

• Useful lives

• Buildings 5~50 years Equipment 3~10 years Leasehold improvements 5 years

• E. When an asset is sold or retired, the cost and accumulated depreciation are removed from the respective accounts and the resulting gain or loss is included in current operations.

15) Leasing arrangements (lessee) － right-of-use assets/ lease liabilities

• A. Leases are recognized as a right-of-use asset and a corresponding lease liability at the date at which the leased asset is available for use by the Group. For short-term leases or leases of low value assets, lease payments are recognized as an expense on a straightline basis over the lease term.

• B. Lease liabilities include the net present value of the remaining lease payments at the commencement date, discounted using the incremental borrowing interest rate. Lease payments are mainly comprised of fixed payments.

• The Group subsequently measures the lease liability at amortized cost using the interest method and recognizes interest expense over the lease term. The lease liability is remeasured and the amount of remeasurement is recognized as an adjustment to the right-of-use asset when there are changes in the lease term or lease payments and such changes do not arise from contract modifications.

• C. At the commencement date, the right-of-use asset is stated at cost comprising mainly the amount of the initial measurement of lease liability.

• The right-of-use asset is measured subsequently using the cost model and is depreciated from the commencement date to the earlier of the end of the asset’s useful life or the end of the lease term. When the lease liability is remeasured, the amount of remeasurement is recognized as an adjustment to the right-of-use asset.

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16) Investment property

• A. Investment property of the Company is the property held either to earn long-term rental income or for capital appreciation or for both.

• B. Part of the property may be held by the Company for self-use purpose and the remaining are used to generate rental income or capital appreciation. If the property held by the Company can be sold individually, then the accounting treatment should be made respectively. If each part of the property cannot be sold individually and the selfuse proportion is not material, then the property is deemed as investment property in its entirety.

• C. When the future economic benefit related to the investment property is highly likely to flow into the Company and the costs can be reliably measured, the investment property shall be recognized as assets. When the future economic benefit generated from subsequent costs is highly likely to flow into the entity and the costs can be reliably measured, the subsequent expenses of the assets shall be capitalized. All maintenance costs are recognized in profit or loss as incurred.

• D. Investment property is subsequently measured using the cost model. Depreciated cost is used to calculate amortization expense after initial measurement. The depreciation method, remaining useful life and residual value should apply the same rules as applicable for property and equipment.

17) Intangible assets

• A. The cost of computer software is amortized using the straight-line method over the useful lives based on acquisition cost, with an amortization period of 4 years.

• B. In accordance with IFRS 3 ‘Business combinations’ as endorsed by FSC, goodwill arises when the acquisition cost exceeds the fair value of identifiable assets and liabilities of the consolidated subsidiary on the consolidation date. The goodwill arising from the consolidated subsidiary is included in the intangible asset. Goodwill is tested annually for impairment and any impairment loss will be recognized when impairment occurs. Impairment losses on goodwill are not reversed.

18) Impairment of non-financial assets

• A. The Company assesses at each balance sheet date the recoverable amounts of those assets where there is an indication that they are impaired. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell or value in use. Except for goodwill, when the circumstances or reasons for recognizing impairment loss for an asset in prior years no longer exist or diminish, the impairment loss is reversed. The increased carrying amount due to reversal should not be more than what the depreciated or amortized historical cost would have been if the impairment had not been recognized.

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• B. The recoverable amounts of goodwill, intangible assets with an indefinite useful life and intangible assets that have not yet been available for use are evaluated periodically. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. Impairment loss of goodwill previously recognized in profit or loss shall not be reversed in the following years.

• C. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the cash-generating units, or groups of cash-generating units, that is expected to benefit from the synergies of the business combination. Each unit or group of units to which the goodwill is allocated represents the lowest level within the entity at which the goodwill is monitored for internal management purposes. Goodwill is monitored at the operating segment level.

• 19) Financial liabilities at fair value through profit or loss

• A. Financial liabilities are classified in this category of held for trading if acquired principally for the purpose of repurchasing in the short-term. Derivatives are also categorized as financial liabilities held for trading unless they are designated as hedges.

• B. At initial recognition, the Group measures the financial liabilities at fair value. All related transaction costs are recognized in profit or loss. The Group subsequently measures these financial liabilities at fair value with any gain or loss recognized in profit or loss.

• 20) Contingent liabilities

Contingent liability is a possible obligation that arises from past event, whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company. Or it could be a present obligation as a result of past event but the payment is not probable or the amount cannot be measured reliably. The Company did not recognize any contingent liabilities but made appropriate disclosure in compliance with relevant regulations.

21) Employee benefits

• A. Short-term employee benefits

Short-term employee benefits are measured at the undiscounted amount of the benefits expected to be paid in respect of service rendered by employees in a period and should be recognized as expenses in that period when the employees render service.

• B. Termination benefits

Termination benefits are employee benefits provided in exchange for the termination of employment as a result from either the Company’s decision to terminate an employee’s employment before the normal retirement date, or an employee’s decision to accept an offer of redundancy benefits in exchange for the termination of employee. The Company recognized expense as it can no longer withdraw an offer of termination benefit or it recognizes relating restructuring costs, whichever is earlier. Benefits that

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are expected to be due more than 12 months after balance sheet date shall be discounted to their present value.

• C. Pensions

• (A) Defined contribution plans

Effective July 1, 2005, the Company established the defined contribution plan for employees of R.O.C. nationality. The employees have the option to participate in the New Plan. Under the New Plan, the Company contributes monthly an amount equivalent to 6% of employees’ salaries to the employees’ personal pension accounts with the “Bureau of Labor Insurance”. Benefits accrued under the New Plan are portable upon termination of employment. Net defined benefit asset can only be recognized when there is a cash refund or elimination in the future accrued pension liabilities.

• (B) Defined benefit plans

• a. In a defined benefit plan, the pension paid is determined based on the amount that an employee shall receive upon retirement, which could vary with age, work seniority and salary compensations. The Company recognizes the accrued pension obligations in the balance sheet based on the net amount of actuarial present value of defined benefit obligation less the fair value of fund, which is adjusted with the net of past service cost recognized as liabilities. Defined benefit obligation is assessed annually using projected unit credit method by the actuary. The present value of the defined benefit obligation is determined using the market yield of government bonds of a currency and term consistent with the currency and term of the employment benefit obligations.

• b. Remeasurement arising on defined benefit plans are recognized in other comprehensive income in the period in which they arise and are recorded as retained earnings.

• D. Employees’ remuneration and directors’ remuneration

• Employees’ and directors’ remuneration are recognized as expenses and liabilities, provided that such recognition is required under legal or constructive obligation and those amounts can be reliably estimated. Any difference between the resolved amounts and the subsequently actual distributed amounts is accounted for as changes in estimates.

22) Revenues and expenses

The Company’s revenues and expenses mainly include:

• A. Gains (losses) on sale of securities, securities brokerage fees, and commissions on brokerage and trading are recognized on the transaction date.

• B. Underwriting fees and related service charges: application fees are recognized upon collection; underwriting fees and service charges are recognized when the contract is

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completed.

• C. Gains (losses) on futures contracts: The margin of futures transaction is recognized as cost. Costs and expenses are recognized as incurred.

• D. Operating expenses: operating expenses refer to required expenses invested in the Company’s operations, which primarily include employee benefit expense, depreciation and amortization, and other business and administrative expenses.

• 23) Income tax

• A. Current income tax

  • Income tax payable (refundable) is calculated on the basis of the tax laws enacted in the countries where a company operates and generates taxable income. Except for the transactions or other matters directly recognized in other comprehensive income or equity, in which cases the related income taxes in the period are recognized in other comprehensive income or directly derecognized from equity, all the others should be recognized as income or expense for the period.

• B. Deferred income tax

  • Deferred income tax assets and liabilities are measured based on the tax rate of the anticipated period that the future assets realization or the liabilities settlement requires, which is based on the effective or existing tax rate at the balance sheet date. The carrying amounts and temporary differences of assets and liabilities included in the balance sheet are calculated using the liability method and recognized as deferred income tax. However, the deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit (loss). Deferred income tax assets are recognized only to the extent that it is probable that taxable profit will be available against which the deductible temporary differences can be utilized. If the future taxable income is probable to provide unused loss carryforwards or deferred income tax credit which can be realized in the future, the proportion of realization is deemed as deferred income tax asset.

• C. The current income tax expense is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Company operates and generates taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in accordance with applicable tax regulations. It establishes provisions for income tax liabilities where appropriate based on the amounts expected to be paid to the tax authorities. An additional tax is levied on the unappropriated retained earnings and is recorded as income tax expense in the year the stockholders resolve to retain the earnings.

• D. Current income tax assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognized amounts

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and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. Deferred income tax assets and liabilities are offset on the balance sheet when the entity has the legally enforceable right to offset current tax assets against current tax liabilities and they are levied by the same taxation authority on either the same entity or different entities that intend to settle on a net basis or realize the asset and settle the liability simultaneously.

24) Share capital

• A. Incremental costs directly attributable to the issuance of new shares are shown as a deduction, net of tax, from equity. Dividends from common stocks are recognized as equity in the financial period in which they are approved by the Company’s shareholders. If the date of dividends declared is later than the balance sheet date, common stocks are disclosed in the subsequent events.

• B. Where the Company repurchases the Company’s equity share capital that has been issued, the consideration paid, including any directly attributable incremental costs (net of income taxes) is deducted from equity attributable to the Company’s equity holders. Where such shares are subsequently reissued, the difference between their book value and any consideration received, net of any directly attributable incremental transaction costs and the related income tax effects, is included in equity attributable to the Company’s equity holders.

25) Earnings per share

• A. Earnings per share is calculated by dividing net income by the weighted average number of shares outstanding during the year after taking into consideration the retroactive effect of stock dividends and capital reserve capitalized.

• B. When the Company calculates earnings per share, basic earnings per share and diluted earnings per share for all potential ordinary shares shall all be disclosed in accordance with IAS 33 “Earnings per share”.

5. CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND KEY SOURCES OF ASSUMPTION UNCERTAINTY

• 1) As the financial statements of the Company may be affected by the adoption of accounting policy, accounting estimate and assumption, the Company’s management shall properly exercise its professional judgement, estimates, and assumptions on the information of the key risks that is obtained from other resources and could affect the carrying amounts of financial assets and liabilities in the next fiscal year while adopting critical accounting policies as stated in Note 4. Estimates and assumptions of the Company are the best estimates made in compliance with IFRSs as endorsed by the FSC. Estimates and assumptions are made based on past experience and other factors (including the influence of COVID 19) deemed relevant; however, the actual results may differ from the estimates. The Company evaluates the estimates and assumptions on an ongoing basis and recognizes

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the adjustment of the estimates only in the period which is affected by the adjustment. If the adjustment simultaneously affects both the current and future periods, it should be recognized in both periods.

• 2) Relevant information on key assumptions to be made in the future, key sources of assumption uncertainty made at balance sheet date, and assumptions and estimates that may cause key risks that could affect the carrying amounts of financial assets and liabilities are as follows:

• A. Fair value of financial instruments

  • Financial instruments with no active market or quoted price use valuation technique to determine the fair value. Under such condition, fair value is assessed through the observable information or models of similar financial instruments. If there is no observable input available in a market, the fair value of financial instrument is assessed through appropriate assumptions. When valuation models are adopted to determine the fair value, all the models should be calibrated to ensure that the output can actually reflect actual information and market price. Models should try to take only observable information as much as possible.

• B. Expected credit losses

For financial assets, the measurement of expected credit losses uses complex models and multiple assumptions. These models and assumptions take into account future macro-economic conditions and credit behaviors of borrowers (e.g. probability of customer default and loss). Please refer to Note 12(2) for detailed information on parameters, assumptions, and estimation methods used in measuring expected credit losses and disclosure of the sensitivity of credit loss to the aforementioned factors. The measurement of expected credit losses according to applicable accounting rules involves significant judgement in several areas, for example:

• (A)The criteria used to judge whether there is significant increase in credit risk.

• (B)The selection of appropriate models and assumptions for measuring expected credit losses.

• For judgements and estimations of the above expected credit losses, please refer to Note 12(2).

• C. Impairment assessment on investment accounted for under the equity method When there are impairment indicators that show the investments accounted for under the equity method are impaired and the carrying amount can no longer be recovered, the Company will assess the impairment of the investment. The Company assesses its share of the recoverable amount which is based on the discounted value of expected cash flow, and assess the reasonableness of relevant assumptions, including revenue growth rate, operating profit margin, net profit margin, financial forecast, and discount rate.

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D. Impairment assessment of goodwill

The periodic impairment assessment of goodwill includes allocation of assets, liabilities, and goodwill to brokerage segment, and determines the recoverable amount based on brokerage segment’s present value of expected future cash flow. The periodic assessment also analyzes reasonableness of relevant assumptions, including expected future trading volumes, market share, segment’s operating profit margin, and discount rates.

6. DETAILS OF SIGNIFICANT ACCOUNTS

1) Cash and cash equivalents

future trading volumes, market share, segment’s operating profit rates. TAILS OF SIGNIFICANT ACCOUNTS Cash and cash equivalents	margin, and discou
December 31, 2022 Checking deposits 497,806 $ Current deposits: Deposits denominated in NTD 318,771 Deposits denominated in foreign currencies 1,154,652 Time deposits 1,221,565 Total 3,192,794 $	December 31, 2021
	457,036 $ 358,336 1,001,686 1,265,900
	3,082,958 $

As of December 31, 2022 and 2021, the annual interest rates of time deposits, including foreign time deposits were 0.335% ~ 5.150% and 0.050% ~ 0.400%, respectively.

2) Financial assets at fair value through profit or loss

December 31, 2022 December 31, 2021

Current items:

Current items:
Financial assets mandatorily measured at fair value through
profit or loss:
Security lending
Security lending		$	208		$	-
Valuation adjustment of security lending	(		45)			-
Subtotal			163			-
Open-ended funds, money market instruments and
securities investment by brokers
Open-ended mutual funds beneficiary certificates			106,313			41,726
Valuation adjustment of open-ended funds, money
market instruments and securities investment
by brokers	(		3,084)	(		307)
Total			103,229			41,419

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December 31,2022 Trading securities-dealer Listed (TSE and OTC) stocks 2,701,353 $ Government bonds 850,036 Corporate bonds 1,575,767 Convertible corporate bonds 487,753 Emerging stocks 140,220 Overseas stocks 3,760,350 Exchange-traded funds 2,375,510 Unlisted stocks 2,042 Subtotal 11,893,031 Valuation adjustment of trading securities - dealer 34,500) ( Total 11,858,531 Trading securities-underwriter Listed (TSE and OTC) stocks 2,122 Convertible corporate bonds 728,535 Subtotal 730,657 Valuation adjustment of trading securities - underwriter 58,520 Total 789,177 Trading securities-hedging Listed (TSE and OTC) stocks 2,758,422 Convertible corporate bonds 3,371,436 Warrants 24,283 Overseas stocks 190,309 Exchange traded funds 7,320 Subtotal 6,351,770 Valuation adjustment of trading securities - hedging 287,674) ( Total 6,064,096 Options bought-futures 8,893 Futures guarantee deposits receivable 5,186,074 Derivative financial instrument assets-OTC 5,037 Total 24,015,200 $ December 31,2022 Non-current items: Financial assets mandatorily measured at fair value through profit or loss: Trading securities - dealer - government bonds 49,779 $ Unlisted stocks 2,609 Subtotal 52,388 Valuation adjustment of trading securities 13,995 Total 66,383 $	December 31,2021
	6,576,248 $ 1,494,196 2,648,112 365,393 222,266 9,075,322 966,526 2,042
	21,350,105 352,548
	21,702,653
	184,916 493,640
	678,556 121,471
	800,027
	5,454,491 32,692 16,108 196,726 2,992
	5,703,009 304,525
	6,007,534
	24,902
	4,695,404
	14,724
	33,286,663 $
	December 31,2021
	49,973 $ 2,609
	52,582 10,192
	62,774 $

• a. For the years ended December 31, 2022 and 2021, net realized and unrealized gains (losses) on financial assets and liabilities at fair value through profit or loss amounted to ($148,007) and $3,922,869, respectively.

• b. Details of the Company’s financial assets at fair value through profit or loss pledged to others as collateral are provided in Note 8.

• c. Information relating to credit risk is provided in Note 12(2).

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3) Financial assets at fair value through other comprehensive income

Financial assets at fair value through other comprehensive income
December 31,2022 Current items: Equity instruments Trading securities-dealer Listed (TSE and OTC) stocks 189,812 $ Valuation adjustment of trading securities - dealer 109,338 Subtotal 299,150 Debt instruments Trading securities-dealer Overseas bonds 2,317,088 Valuation adjustment of trading securities - dealer 118,456) ( Subtotal 2,198,632 Total 2,497,782 $ December 31,2022 Non-current items: Equity instruments Unlisted stocks 6,449 $ Valuation adjustment of trading securities 288,406 Total 294,855 $	December 31,2021
	189,812 $ 220,393
	410,205
	- -
	-
	410,205 $
	December 31,2021
	6,449 $ 252,178
	258,627 $

• a. The Company has elected to classify stock investments that are considered to be strategic investments or stably receiving dividends as financial assets at fair value through other comprehensive income. The fair value of such investments amounts to $594,005 and $668,832 as at December 31, 2022 and 2021, respectively.

• b. Amounts recognized in profit or loss and other comprehensive income in relation to the financial assets at fair value through other comprehensive income are listed below:

Equity instruments at fair value through other comprehensive income	Year ended December 31,2022		Year ended December 31,2021
Fair value change recognized in other comprehensive income Dividend income recognised in profit or loss Held at end of period Debt instruments at fair value through other comprehensive income	74,826) ($ 14,439 $ Year ended December 31,2022		128,987 $ 13,661 $ Year ended December 31,2021
Fair value change recognized in other comprehensive income Cumulative other comprehensive income reclassified to profit or loss Interest income recognized in profit or loss	126,051) ($ 26,163 $		- $ - $

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• c. Details of the Company’s financial assets at fair value through other comprehensive income pledged to others as collateral are provided in Note 8.

• d. Information relating to credit risk is provided in Note 12(2).

4) Bonds purchased under resale agreements

	December	31,2022	December	31,2021
Overseas bonds	$	-	$	27,401

The above bonds purchased under resale agreements as of December 31, 2022 and 2021 was due within one year and were contracted to be resold at the agreed-upon price plus interest charge on the specific date after transaction. The total resale amounts were $0 and $27,424, respectively. The annual interest rates of every currency were as follows:

U.S Dollar

December 31, 2022 December 31, 2021 - 0.3375%

5) Margin loans receivable

Margin loans receivable were secured by the securities purchased by customers under margin loans. The annual interest rate was 6.4%.

6) Accounts receivable

Accounts receivable
	December 31,2022		December 31,2021
Accounts receivable - related parties	$	4,717	$	4,792
Accounts receivable - non related parties
Settlement price receivable-brokers	$	8,317,064	$	14,098,544
Settlement price receivable-dealer		87,067		392,802
Settlement price receivable-foreign bonds		757,711		137,269
Spot exchange receivable, foreign currencies		47,624		-
Interest receivable		315,061		336,711
Settlement price		438,735		1,349,925
Others		167,152		234,918
Subtotal		10,130,414		16,550,169
Less: Allowance for uncollectible accounts	(	659)	(	742)
Total	$	10,129,755	$	16,549,427

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• A. The ageing analysis of accounts receivable that were past due but not impaired is as follows:

==> picture [427 x 237] intentionally omitted <==

----- Start of picture text -----

December 31, 2022
91 to 180 181 days to More than 12
Up to 30 days 31 to 90 days days 12 months months Total
Accounts receivable
Accounts receivable
-related parties $ 4,717 $ - $ - $ - $ - $ 4,717
Accounts receivable
- non related parties 9,825,908 46,581 52,096 95,860 109,969 10,130,414
Total $ 9,830,625 $ 46,581 $ 52,096 $ 95,860 $ 109,969 $ 10,135,131
December 31, 2021
91 to 180 181 days to More than 12
Up to 30 days 31 to 90 days days 12 months months Total
Accounts receivable
Accounts receivable
-related parties $ 4,792 $ - $ - $ - $ - $ 4,792
Accounts receivable
- non related parties 16,229,080 48,072 93,850 116,275 62,892 16,550,169
Total $ 16,233,872 $ 48,072 $ 93,850 $ 116,275 $ 62,892 $ 16,554,961
----- End of picture text -----

Note ： The above ageing analysis was based on invoice date.

B. Information related to credit risk is provided in Note 12(2).

7) Other receivables

Interest receivable Others Total	December31,2022 11,035 $ 5,621 16,656 $	December31,2021 2,440 $ 3,269 5,709 $

Information relating to credit risk is provided in Note 12(2).

8) Other current assets

Information relating to credit risk is provided in Other current assets	Note 12(2).
Pending settlements Pledged time deposits Deposits-in for foreign currency securities Underwriting share proceeds collected on behalf of customers Amounts held for each customer in the account Others Total	December 31,2022 113,139 $ 400,000 808,290 249,404 269,029 30,566 1,870,428 $	December 31,2021
		359,808 $ 400,000 1,884,425 5,243,851 97,996 6,240
		7,992,320 $

9) Transfer of financial assets

A. During the Company’s activities, the transferred financial assets that do not meet derecognition conditions are mainly debt instruments with purchase agreements or debt instruments lent out in accordance with securities borrowing and lending agreement. The cash flow of the contract has been transferred and related liabilities of transferred

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financial assets that will be repurchased at a fixed price in the future have been reflected. The Company may not use, sell or pledge the transferred financial assets during the valid period of the transaction. The financial assets were not derecognized as the Company is still exposed to interest rate risk and credit risk.

• B. Financial assets that do not meet the derecognition conditions and related financial

liabilities are analysed below:

iabilities are analysed below:	iabilities are analysed below:
Financial assets category Carrying amount of transferred financial assets Financial assets measured at fair value through profit or loss Repurchase agreement 4,814,535 $ Financial assets measured at fair value through other comprehensive income Repurchase agreement 2,198,632 December31,2022 December31,2021		Carrying amount of related financial liabilities 4,738,787 $ 2,226,637 Carrying amount of related financial liabilities
Financial assets category Financial assets measured at fair value through profit or loss Repurchase agreement	Carrying amount of transferred financial assets
	10,016,623 $	9,643,040 $

10) Offsetting financial assets and financial liabilities

• A. The Company has transactions that are or are similar to net settled master netting arrangements but do not meet the offsetting criteria, i.e. derivative financial instruments, resale and repurchase agreements. If one party breaches the contract, the counterparty can choose to use net settlement for the above transactions.

(Blank below)

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• B. The offsetting of financial assets and financial liabilities are set as follows:

• (1) Financial assets

Financial assets
				December 31,	2022
Derivative financial instruments Description		Gross amounts of recognised financial assets		Gross amounts of recognised financial liabilities set off in the balance sheet		Net amounts of financial assets presented in the balance sheet		Financial instruments Cash collateral received 5,037 $ - $ Not set off in the balance sheet	Net amount
								Financial instruments
		5,037 $		- $		5,037 $		5,037 $	- $

				December 31,	2021	2021
Derivative financial instruments Bonds purchased under resale agreements Total Description		Gross amounts of recognised financial assets		Gross amounts of recognised financial liabilities set off in the balance sheet		Net amounts of financial assets presented in the balance sheet		Financial instruments Cash collateral received 2,467 $ - $ 27,334 - 29,801 $ - $ Not set off in the balance sheet	Net amount
								Financial instruments
		14,257 $ 27,401 41,658 $		- $ - - $		14,257 $ 27,401 41,658 $		2,467 $ 27,334 29,801 $	11,790 $ 67
									11,857 $

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(2) Financial liabilities

				December 31,	2022	2022
Derivative financial instruments Bonds sold and repurchase agreements Total Description		Gross amounts of recognised financial liabilities		Gross amounts of recognised financial assets set off in the balance sheet		Net amounts of financial liabilities presented in the balance sheet		Not set off in the	Cash collateral received - $ - - $ balance sheet	Net amount
								Financial instruments
		8,320 $ 4,718,843 4,727,163 $		- $ - - $		8,320 $ 4,718,843 4,727,163 $		5,037 $ 4,718,843 4,723,880 $		3,283 $ -
										3,283 $

				December 31,	2021	2021
Derivative financial instruments Bonds sold and repurchase agreements Total Description		Gross amounts of recognised financial liabilities		Gross amounts of recognised financial assets set off in the balance sheet		Net amounts of financial liabilities presented in the balance sheet		Not set off in the	Cash collateral received - $ - - $ balance sheet	Net amount
								Financial instruments
		2,467 $ 6,598,995 6,601,462 $		- $ - - $		2,467 $ 6,598,995 6,601,462 $		2,467 $ 6,598,995 6,601,462 $		- $ -
										- $

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11) Investments accounted for under the equity method

Subsidiaries President Futures Corp. President Securities (HK) Ltd. President Wealth Management (HK) Ltd. President Securities (Nominee) Ltd. President Capital Management Corp. President Insurance Agency Corp. PSC Venture Capital Investment Limited Company Associates Uni-President Asset Management Corp. Jin Yuan President Securities Co., Ltd.	December 31,2022 2,547,290 $ 1,334,862 60,574 1,552 304,894 57,181 267,501 4,573,854 747,473 2,764,018 8,085,345 $	December 31,2021 2,420,110 $ 1,288,431 54,073 1,529 312,175 46,249 273,064 4,395,631 760,171 2,363,197 7,518,999 $

• A. The Company’s share of its associates’ profits or losses recognized in long-term equity investment accounted for under the equity method for the years ended December 31, 2022 and 2021 were $32,394 and $213,779, respectively.

• B. Subsidiary President Securities (HK) Ltd., President Wealth Management (HK) Ltd. and President Securities (Nominee) Ltd. were approved by the Board of Directors in March 2022 to deal with the dissolution and liquidation matters.

• C. The Company holds 42.46% of the equity of Uni-President Asset Management Corp., making it the single largest shareholder of the company, while the other equity is mainly held by the other 17 shareholders. Half of the voting rights of the shareholders attending the shareholders’ meeting exceeds the voting rights of the Company, and the Company does not take an active role in the management of the company. This shows that the Company has no actual ability to direct relevant activities. The Company has no control over Uni-President Asset Management Corp., but has significant influence over it.

• D. Details of information of subsidiaries are provided in Note 4(3) of consolidated financial statements.

• E. The financial information of the Company’s principal associates is summarized as follows:

• (a) The basic information of the associate that are material to the Company is as follows:

Companyname Uni-President Asset Management Corp. Jin Yuan President Securities Co., Ltd. (Note)	Princial place of businesss Taipei city Xiamen		December 31, 2022 December 31, 2021 42.46% 42.46% 49% 49% Shareholdingratio	Nature of Methods of relationship measurement Associate Equity method Associate Equity method
			December 31, 2022
			42.46% 49%

Note: The company participated in the cash capital increase of Jin Yuan President Securities Co., Ltd. in proportion to its shareholdings in the third quarter of 2022.

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• (b) The summarized financial information of the associate that are material to the Company is as follows:

Balance sheet

follows: Balance sheet
Current assets Non-current assets Current liabilities Non-current liabilities Total net assets Share in associate's net assets Goodwill and others Carrying amount of the associate Current assets Non-current assets Current liabilities Non-current liabilities Total net assets Share in associate's net assets Carrying amount of the associate Statement of comprehensive income Revenue: Profit for the period from continuing operations Other comprehensive income (loss)- net of tax Total comprehensive income (loss) Dividends received from associates Revenue: Loss for the period from continuing operations Total comprehensive income (loss)	December 31,2022 December 31,2021 944,707 $ 1,105,200 $ 784,976 761,113 334,677) ( 433,586) ( 57,145) ( 64,962) ( 1,337,861 $ 1,367,765 $ 568,101 $ 580,799 $ 179,372 179,372 747,473 $ 760,171 $ December 31,2022 December 31,2021 6,937,077 $ 8,438,646 $ 233,398 317,940 1,491,521) ( 3,852,030) ( 38,100) ( 81,706) ( 5,640,854 $ 4,822,850 $ 2,764,018 $ 2,363,197 $ 2,764,018 $ 2,363,197 $ Uni-President Asset Management Corp. Jin Yuan President Securities Co.,Ltd. Year ended December 31, 2022 Year ended December 31,2021 1,269,129 $ 1,411,480 $ 435,683 $ 536,134 $ 4,577 68,517 440,260 $ 604,651 $ 199,648 $ 98,959 $ Year ended December 31,2022 Year ended December 31,2021 119,529 $ 291,581 $ 577,258) ($ 305,071) ($ 577,258) ($ 305,071) ($ Uni-President Asset Management Corp. Jin Yuan President Securities Co.,Ltd.
		Year ended December 31, 2022
		Year ended December 31,2022
	119,529 $ 577,258) ($ 577,258) ($		291,581 $ 305,071) ($ 305,071) ($

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12) Property and equipment

) Property and equipment
January1			Year ended December 31,2022
		Land	Buildings		Equipment	Leasehold improvements	Total
Cost Accumulated depreciation and impairment Total January 1 Additions Reclassifications Depreciation December 31, 2022 December 31,2022		1,573,570 $ - 1,573,570 $ 1,573,570 $ - - - 1,573,570 $ Land	1,022,169 $ 450,583) ( 571,586 $ 571,586 $ 2,015 34,027 35,509) ( 572,119 $ Buildings		212,540 $ 93,913) ( 118,627 $ 118,627 $ 88,922 118,345 66,916) ( 258,978 $ Equipment	17,818 $ 10,331) ( 7,487 $ 7,487 $ 1,381 3,360 3,785) ( 8,443 $ Leasehold improvements	2,826,097 $ 554,827) ( 2,271,270 $ 2,271,270 $ 92,318 155,732 106,210) ( 2,413,110 $ Total
Cost Accumulated depreciation and impairment Total January1		1,573,570 $ - 1,573,570 $	1,050,881 $ 374,947 $ 22,559 $ 478,762) ( 115,969) ( 14,116) ( 572,119 $ 258,978 $ 8,443 $ Year ended December 31,2021				3,021,957 $ 608,847) ( 2,413,110 $
		Land		Buildings	Equipment	Leasehold improvements		Total
Cost Accumulated depreciation and impairment Total January 1 Additions Reclassification Depreciation December 31, 2021 December 31,2021		1,573,570 $ - 1,573,570 $ 1,573,570 $ - - - 1,573,570 $ Land	1,010,840 $ 421,494) ( 589,346 $ 589,346 $ 630 12,329 30,719) ( 571,586 $ Buildings		180,060 $ 83,200) ( 96,860 $ 96,860 $ 45,694 19,180 43,107) ( 118,627 $ Equipment	22,293 $ 11,747) ( 10,546 $ 10,546 $ 405 750 4,214) ( 7,487 $ Leasehold improvements	2,786,763 $ 516,441) ( 2,270,322 $ 2,270,322 $ 46,729 32,259 78,040) ( 2,271,270 $ Total
Cost Accumulated depreciation and impairment Total		1,573,570 $ - 1,573,570 $	1,022,169 $ 450,583) ( 571,586 $		212,540 $ 93,913) ( 118,627 $	17,818 $ 10,331) ( 7,487 $	2,826,097 $ 554,827) ( 2,271,270 $

• A. No interest was capitalized for property and equipment for the years ended December 31, 2022 and 2021.

• B. The information on property and equipment pledged or restricted as of December 31, 2022 and 2021 is described in Note 8.

－ 13) Leasing arrangements lessee

• A. The Company leases various assets including buildings, machinery and equipment, business vehicles and multifunction printers. Rental contracts are typically made for periods of 1 to 10 years. Lease terms are negotiated on an individual basis and contain a wide range of different

~40~

terms and conditions. The lease agreements do not impose covenants, but leased assets may not be used as security for borrowing purposes.

• B. The carrying amount of right-of-use assets and the depreciation charge are as follows:

Buildings Transportation equipment (Business vehicles) Office equipment (Photocopiers) Total Buildings Transportation equipment (Business vehicles) Office equipment (Photocopiers) Total	December 31,2022 CarryingAmount 135,919 $ 13,098 6,078 155,095 $ Year ended December 31, 2022	December 31,2021 CarryingAmount 168,610 $ 15,976 7,374 191,960 $ Year ended December 31,2021
	Depreciation charge	Depreciation charge
	63,056 $ 5,495 2,165 70,716 $	63,091 $ 5,557 2,100 70,748 $

• C. For the years ended December 31, 2022 and 2021, the additions to right-of-use assets amounted to $44,048 and $91,685, respectively.

• D. The information on income and expense accounts relating to lease contracts is as follows:

Items affecting profit or loss Interest expense on lease liabilities Expense on short-term lease contracts Expense on variable lease payment	Year ended December 31,2022	Year ended December 31,2021
	1,131 $ 4,241 100	1,186 $ 1,651 3,485

• E. For the years ended December 31, 2022 and 2021, the Company’s total cash outflow for leases amounted to $73,456 and $70,881, respectively.

• F. The Group has applied the practical expedient to “Covid-19-related rent concession”, and recognized the other gains or losses from changes in lease payments arising from the rent concessions amounting to $156 and $104, respectively, by decreasing rent expense for the years ended December 31, 2022 and 2021.

• 14) Leasing arrangements – lessor

• A. The Company leases various assets including office and parking space. Rental contracts are typically made for periods of 1 to 5 years. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions.

• B. For the years ended December 31, 2022 and 2021, the Company recognized rent income in the amount of $24,436 and $24,512, respectively, based on the operating lease agreement, which does not include variable lease payments.

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C. The maturity analysis of the lease payments under the operating leases is as follows:

2022 2023 2024 Total	December 31,2022 24,436 $ 24,585 10,547 59,568 $	December 31,2021
		23,655 $ 29,695 6,077 59,427 $

15) Investment property

January1		Year ended December 31,2022
		Land Buildings Total 198,099 $ 107,076 $ 305,175 $ - 36,773) ( 36,773) ( 198,099 $ 70,303 $ 268,402 $ 198,099 $ 70,303 $ 268,402 $ - 2,100) ( 2,100) ( 198,099 $ 68,203 $ 266,302 $ Land Buildings Total 198,099 $ 107,076 $ 305,175 $ - 38,873) ( 38,873) ( 198,099 $ 68,203 $ 266,302 $ Year ended December 31, 2021
Cost Accumulated depreciation and impairment Total January 1 Depreciation December 31 December 31
Cost Accumulated depreciation and impairment Total January1
		Land Buildings Total 198,099 $ 107,076 $ 305,175 $ - 34,672) ( 34,672) ( 198,099 $ 72,404 $ 270,503 $ 198,099 $ 72,404 $ 270,503 $ - 2,101) ( 2,101) ( 198,099 $ 70,303 $ 268,402 $ Land Buildings Total 198,099 $ 107,076 $ 305,175 $ - 36,773) ( 36,773) ( 198,099 $ 70,303 $ 268,402 $
Cost Accumulated depreciation and impairment Total January 1 Depreciation December 31 December 31
Cost Accumulated depreciation and impairment Total

A. For the years ended December 31, 2022 and 2021, rental income from the lease of the investment property were $16,661 and $17,115, respectively, and direct operating expenses arising from the investment property were $3,667 and $3,579, respectively.

• B. Details of fair value of investment property are provided in Note 12(5).

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16) Intangible assets

) Intangible assets
January1				Year ended December 31,2022
	Computer software			Goodwill
Cost Accumulated amoritization and impairment Total January 1 Additions Reclassifications Amoritization December 31 December 31	146,948 $ 43,323) ( 103,625 $ 103,625 $ 41,626 45,159 45,064) ( 145,346 $ Computer software			42,004 $ - 42,004 $ 42,004 $ - - - 42,004 $ Goodwill
Cost Accumulated amoritization and impairment Total January1	215,358 $ 70,012) ( 145,346 $
		Computer software		Goodwill	Customer relationships and others Total 54,260 $ 172,118 $ 54,181) ( 77,639) ( 79 $ 94,479 $ 79 $ 94,479 $ - 41,381 - 34,506 18) ( 24,676) ( 61 $ 145,690 $ Customer relationships and others Total 54,260 $ 243,212 $ 54,199) ( 97,522) ( 61 $ 145,690 $
Cost Accumulated amoritization and impairment Total January 1 Additions Reclassifications Amoritization December 31 December 31	75,854 $ 23,458) ( 52,396 $ 52,396 $ 41,381 34,506 24,658) ( 103,625 $ Computer software			42,004 $ - 42,004 $ 42,004 $ - - - 42,004 $ Goodwill
Cost Accumulated amoritization and impairment Total	146,948 $ 43,323) ( 103,625 $			42,004 $ - 42,004 $

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• A. No interest was capitalized for intangible assets for the years ended December 31, 2022 and 2021.

• B. Goodwill and customer relationships were acquired through acceptance of transfer of the securities brokerage business of Standard Chartered (Taiwan) Bank's retail banking business and were all allocated to the Company’s brokerage segment.

• C. The recoverable amount of goodwill was periodically determined based on its value in use. Calculations of value in use after-tax cash flow projections are based on financial budgets approved by the management covering a five-year period. Cash flows beyond the five-year period are extrapolated using the estimated growth rates stated below.

The recoverable amount calculated based on the value in use exceeded the carrying amount, thus the goodwill was not impaired. The key assumptions used for calculation of value in use are as follows:

follows:
Growth rate Discount rate		Year ended December 31,2022 Year ended December 31,2021 0.00% 0.00% 13.26% 12.03% BrokerageSegment
		Year ended December 31,2022
		0.00% 13.26%	0.00% 12.03%

Management determined the growth rate based on past performance and its expectations of market development. The discount rates were based on the weighted average financing cost rates determined by the Company’s capital asset pricing model. The discount rates also reflect specific risks related to relevant operating segments.

17) Other non-current assets

risks related to relevant operating segments. Other non-current assets
Short-term loans Operation guaranteed deposits Clearing and settlement fund Refundable deposits Net defined benefit assets Prepayment for equipment Overdue receivables Others Subtotal Less: Allowance for uncollectible accounts Total Unsecured loans	December 31,2022 December 31,2021 505,000 $ 505,000 $ 214,883 230,091 216,519 301,574 75,993 - 56,993 78,273 8,224 12,517 2,500 2,500 1,080,112 1,129,955 8,224) ( 12,517 ( 1,071,888 $ 1,117,438 $ December31,2022 December31,2021 275,000 $ 590,000 $	December 31,2021
		505,000 $ 230,091 301,574 - 78,273 12,517 2,500
		1,117,438 $
		December31,2021
		590,000 $

18) Short-term loans

As of December 31, 2022 and 2021, the interest rates of short-term loans, including foreign interest rates were 1.700% and 0.790%, respectively.

19) Commercial papers payable

Commercial papers payable
		December 31,2022		December 31,2021
Face value		$	5,830,000	$	8,650,000
Less: Discount on commercial papers	payable	(	2,569)	(	1,442)
Total		$	5,827,431	$	8,648,558

As of December 31, 2022 and 2021, the interest rates of commercial papers, including foreign interest

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rates were 1.250%~1.400% and 0.320%~0.500%, respectively.

20) Financial liabilities at fair value through profit or loss - current

		December 31,2022	December 31,2022		December 31,2021	December 31,2021
Covering bonds	$		-	$		148,560
Valuation adjustment on covering bonds			-	(		270)
Subtotal			-			148,290
Liabilities on sale of borrowed securities
- hedged			1,769,451			408,629
Valuation adjustment on liabilities on sale
of borrowed securities - hedged	(		47,847)			16,664
Liabilities on sale of borrowed securities
- non-hedged			6,668,328			4,294,538
Valuation adjustment on liabilities on sale
of borrowed securities - non-hedged	(		912,064)			404,442
Subtotal			7,477,868			5,124,273
Issuance of call ( put ) warrants			8,388,823			12,925,747
Loss (gain) on price fluctuation	(		3,700,001)	(		500,708)
Market value (A)			4,688,822			12,425,039
Warrants redeemed	(		6,461,030)	(		12,258,180)
Loss (gain) on price fluctuation			2,084,404			729,365
Market value (B)	(		4,376,626)	(		11,528,815)
Warrants - net (A+B)			312,196			896,224
Options sold - TAIFEX			2,734			7,162
Outstanding Liability for Issuance of ETNs			971,128			1,678,161
Valuation adjustment on outstanding
Liability for Issuance of ETNs	(		198,830)	(		106,307)
Subtotal			772,298			1,571,854
Derivative financial liabilities - OTC			590,988			423,932
Total	$		9,156,084	$		8,171,735

Among the warrants issued by the Company, except for contract-based warrants which are Europeanstyle warrants, all other warrants are American-style warrants. Warrants are stated as liabilities for issuance of warrants at issuance price prior to expiration. Upon repurchase of warrants after issuance, the repurchased amounts are recognized as warrants repurchase and charged as a deduction to liabilities for issuance of warrants. The warrants have six to twelve months exercise period from the date of issuance. The issuer has the option to settle either by cash or stock delivery.

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21) Bonds sold under repurchase agreements

Bonds sold under repurchase agreements
Government bonds Corporate bonds Bank debentures International bonds Foreign bonds Total	December 31,2022 919,875 $ 1,001,131 100,408 225,167 4,718,843 6,965,424 $	December 31,2021 1,623,147 $ 500,119 300,000 620,779 6,598,995
		9,643,040 $

The above bonds sold under repurchase agreements as of December 31, 2022 and 2021 were due within one year and were contracted to be repurchased at the agreed-upon price plus interest charge on the specific date after the transaction. The total repurchase amounts were $7,016,989 and $9,648,756, respectively, and the annual interest rates in every currency were shown as follows:

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Currency December 31, 2022 December 31, 2021
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Currency	December 31,2022	December 31,2021
NTD	0.72%~1.22%	0.17%~0.32%
Foreign currencies (Note)	1.40%~4.80%	-0.70%~3.61%
Note: Foreign currencies include AUD, EUR, USD, GBP and RMB.

22) Accounts payable

22) Accounts payable
23) Other payables 24) Other financial liabilities-current Settlement accounts payable - brokered trading Settlement proceeds Settlement accounts payable - operating Settlement accounts payable - foreign bonds Spot exchange payable, foreign currencies Others Total Salary and bonus payable Employees’ and directors’ remuneration payable Others Total Equity-linked notes (ELN) - Options Principal guaranteed notes (PGN) - fixed income Total	December 31,2022 7,622,204 $ 1,252,785 935,022 703,424 47,566 169,644 10,730,645 $ December 31,2022 858,972 $ 38,028 546,038 1,443,038 $ December 31,2022 - $ 2,784,086 2,784,086 $	December 31,2021
		14,823,110 $ 776,513 1,404,454 121,943 - 295,479
		17,421,499 $
		December 31,2021
		1,613,645 $ 189,496 696,707
		2,499,848 $
		December 31,2021
		84,000 $ 4,899,139
		4,983,139 $

The Company deals in equity-linked products and combines fixed income instruments with call or put options. These products are categorized into ELN (Equity-Linked Notes) and PGN (Principal

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Guaranteed Notes). On trade date, the contracted amounts are collected in full from the counterparties. The payout amount on maturity will depend on the price fluctuation of the instruments linked to these contracts and be calculated as trading price less option strike price on maturity. All the linked products are financial instruments under the supervision of the SFB (Securities and Futures Bureau).

25) Other liabilities-non-current

Other liabilities-non-current
	December	31,2022	December	31,2021
Guarantee deposits received	$	23,315	$	23,419
Net defined benefit obligation		-		58,331
Total	$	23,315	$	81,750

26) Pension plan

• A. Defined benefit plans

• (A)The Company has a defined benefit pension plan in accordance with the Labor Standards Law, covering all regular employees’ service years prior to the enforcement of the Labor Pension Act on July 1, 2005 and service years thereafter of employees who chose to continue to be subject to the pension mechanism under the Law. Pension benefits are based on the number of units accrued and the average monthly salaries and wages of the last 6 months prior to retirement. Under the defined benefit pension plan, two units are accrued for each year of service for the first 15 years and one unit for each additional year thereafter, subject to a maximum of 45 units. The Company contributes monthly an amount which ranges 7.2% of the employees’ monthly salaries and wages to the retirement fund deposited with Bank of Taiwan, the trustee, under the name of the supervisory committee of workers' retirement reserve fund, and with Cathay United Bank, under the name of the management committee of employees’ retirement fund. Also, the Company would assess the balance in the aforementioned labor pension reserve account by the end of December 31, every year. If the account balance is insufficient to pay the pension calculated by the aforementioned method, to the employees expected to be qualified for retirement next year, the Company will make contributions to cover the deficit by next March.

• (B)The amounts recognized in the balance sheet are as follows:

Net present value of defined benefit liabilities Fair value of plan assets Net defined benefit (assets) liabilities	December 31, 2022 $ 691,054 (767,047) ($75,993)	December 31, 2021
		$ 815,551 (757,220)
		$ 58,331

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(C)Movements in net defined benefit liabilities (assets) are as follows:

Year ended December 31,2022		Present value of defined benefit obiligations	Fair value of plan assets	Net defined benefit liabilities (assets)
Balance at January 1 Current service cost Interest expense (income) Remeasurements: Return on plan assets (excluding amounts included in interest income or expense) Change in financial assumptions Experience adjustments Pension fund contribution Paid pension Balance at December 31 Year ended December 31,2021	815,551 $ 3,336 4,077 822,964 - 2,457) ( 52,891) ( 55,348) ( - 76,562) ( 76,562) ( 691,054 $ Present value of defined benefit obiligations		757,220) ($ - 3,786) ( 761,006) ( 44,448) ( - - 44,448) ( 38,155) ( 76,562 38,407 767,047) ($ Fair value of plan assets	58,331 $ 3,336 291 61,958 44,448) ( 2,457) ( 52,891) ( 99,796) ( 38,155) ( - 38,155) ( 75,993) ($ Net defined benefit liabilities (assets)
Balance at January 1 Current service cost Interest expense (income) Remeasurements: Return on plan assets (excluding amounts included in interest income or expense) Change in demographic assumptions Change in financial assumptions Experience adjustments Pension fund contribution Paid pension Balance at December 31	795,455 $ 3,950 2,386 801,791 - 693 13,059) ( 148,130 135,764 - 122,004) ( 122,004) ( 815,551 $		812,143) ($ - 2,436) ( 814,579) ( 8,438) ( - - - 8,438) ( 56,207) ( 122,004 65,797 757,220) ($	16,688) ($ 3,950 50) ( 12,788) ( 8,438) ( 693 13,059) ( 148,130 127,326 56,207) ( - 56,207) ( 58,331 $

(D) The Bank of Taiwan was commissioned to manage the Fund of the Company’s defined benefit pension plan in accordance with the Fund’s annual investment and utilization plan and “Regulations for Revenues, Expenditures, Safeguard and Utilization of the Labor Retirement Fund” (Article 6: The scope of utilization for the Fund includes deposit in domestic or foreign financial institutions, investment in domestic or foreign listed, over-the-counter, or private

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placement equity securities, investment in domestic or foreign real estate securitization products, etc.). With regard to the utilization of the Fund, its minimum earnings in the annual distributions on the final financial statements shall be no less than the earnings attainable from the amounts accrued from two-year time deposits with the interest rates offered by local banks. If the earnings is less than aforementioned rates, government shall make payment for the deficit after being authorized by the Regulator.

The Company has no right to participate in managing and operating that fund and hence the Company is unable to disclose the classification of plan asset fair value in accordance with IAS19 paragraph 142. The composition of fair value of plan assets as of December 31, 2022 and 2021 is given in the Annual Labor Retirement Fund Utilization Report published by the government. In addition, for retirement fund deposits with Cathy United Bank, under the name of the management committee of employees’ retirement fund, the fund invests in time deposit accounts under Cathy United Bank.

• (E) The principal actuarial assumptions used were as follows:

Discount rate Future salary increases	Year ended December 31, 2022		Year ended December 31,2021
	1.4% 3.5%		0.5% 2.5%

Assumptions regarding future mortality rate are set based on the Taiwan Standard Ordinary Experience Mortality Table (2021) for the years ended December 31, 2022 and 2021. Because the main actuarial assumption changed, the present value of defined benefit obligation is affected. The analysis was as follows:

December 31,2022	Discount rate	Discount rate	Discount rate		Future salaryincreases	Future salaryincreases
	Increase 0.25%	Decrease 0.25%			Increase 0.25%	Decrease 0.25%
	13,027) ($		13,399 $ 16,424 $		11,397 $ 14,065 $	11,157) ($
Effect on present value of defined benefit obligation December 31, 2021
	15,953) ($					13,757) ($
Effect on present value of defined benefit obligation

• (F) Pension fund contribution plans to pay $32,472 for the year ended December 31, 2023.

• B. Defined contribution plans:

Effective from July 1, 2005, the Company established a defined contribution plan pursuant to the “Labor Pension Act”, which covers employees with R.O.C. nationality and those who chose or are required to apply the “Labor Pension Act”. The contributions are made monthly based on not less than 6% of the employees’ monthly salaries and wages to the employees’ individual pension accounts at the Bureau of Labor Insurance. The payment of pension benefits is based on the employees’ individual pension fund accounts and the cumulative profit in such accounts. The employees can choose to receive such pension benefits monthly or in lump sum. The pension costs

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under defined contribution pension plans of the Company for the years ended December 31, 2022 and 2021 were $71,705 and $74,179, respectively.

27) Equity

A. Common stock

As of December 31, 2022, the Company’s authorized capital was $15,000,000 with a par value of $10 (in dollars) per share. As of December 31, 2022 and 2021, the common stocks issued and the outstanding common stocks were both 1,455,831 thousand shares. Movements in the number of the Company’s ordinary shares outstanding are as follows:

January 1 Stock dividends December 31		Year ended December 31,2022 Year ended December 31,2021 1,455,831 1,399,838 - 55,993 1,455,831 1,455,831 (Expressed in thousands)	Year ended December 31,2022 Year ended December 31,2021 1,455,831 1,399,838 - 55,993 1,455,831 1,455,831 (Expressed in thousands)
		1,455,831 - 1,455,831	1,399,838 55,993 1,455,831

The Board of Directors approved on March 23, 2021 and the shareholders' meeting resolved on July 20, 2021 to increase the Company’s capital with an undistributed surplus of $559,935, and issue 55,993 thousand ordinary shares with a par value of $10 (in dollars) per share. The capital increase date is at September 1, 2021, the total issued share capital after the capital increase was $14,558,313, divided into 1,455,831 thousand shares, each with a denomination of $10 per share. B. Capital reserve

December 31, 2022 December 31, 2021		Sharepremium		Treasury share transactions		Expired stock options		Difference between consideration and carrying amount of subsidiaries acquired or disposed		Total
		24,663 $ 24,663 $		65,675 $ 65,675 $		483 $ 483 $		440 $ 440 $		91,261 $ 91,261 $

Pursuant to the R.O.C. Company Law, capital reserve arising from paid-in capital in excess of par value on issuance of common stocks and donations can be used to cover accumulated deficit or to issue new stocks or cash to shareholders in proportion to their share ownership, provided it should not exceed 10% of the paid-in capital each year. Capital reserve should not be used to cover accumulated deficit unless the legal reserve is insufficient.

C. Legal reserve

Under the Company’s Articles of Incorporation, the current year’s earnings, if any, shall first be used to pay all taxes and offset prior years’ operating losses and then 10% of the remaining amount shall be set aside as legal reserve. Except for covering accumulated deficit or issuing new stocks or cash to shareholders in proportion to their share ownership, the legal reserve shall not be used for any other purpose. The use of legal reserve for the issuance of stocks or cash to shareholders in proportion to their share ownership is permitted, provided that the balance of the reserve exceeds 25% of the Company’s paid-in capital.

D. Special reserve

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In accordance with the “Rules Governing the Administration of Securities Firms”, 20% of the current year's earnings, after paying all taxes and offsetting prior years' operating losses and plus the items other than the after-tax net profit for the period, that are included in the unappropriated earnings of the period, if any, shall be set aside as special reserve until the cumulative balance equals the total amount of paid-in capital. The special reserve shall be used exclusively to cover accumulated deficit or to increase capital and shall not be used for any other purpose. Such capitalization shall not be permitted unless the Company had already accumulated a special reserve of at least 25% of its paid-in capital stock and only quarter of such special reserve may be capitalized.

In accordance with the regulations, the Company shall set aside an equivalent amount of special reserve from accumulated unappropriated retained earnings of the current year based on the decreased amount of equity. If there is any subsequent reversal of the decrease in equity, the earnings may be distributed based on the reversal proportion.

In accordance with Jing-Guan-Zheng-Chuan Letter No. 10500278285 dated August 5, 2016, securities firms should set aside 0.5% to 1% of net income after tax as special reserve, upon the distribution of earnings from 2016 to 2018. From fiscal year 2017, special reserve as mentioned above may be reversed based on an amount equal to employees’ transformation training expenditure, employee transfer and settlement expenditure arising from the development of Fintech. Further, according to Jing-Guan-Zheng-Chuan Letter No. 1080321644 dated July 10, 2019, securities firms are no longer required to set aside special reserve starting from 2019. And the special reserve, within the balance of special reserve set aside in the previous years, could be reversed at the same amount for the aforementioned expenditures.

• 28) Unappropriated earnings and dividends policy

• A. Under the Company’s Articles of Incorporation, the current year’s earnings, if any, shall be used to pay all taxes and offset prior years’ operating losses first, and then set aside as legal reserve, accounted for as 10% of the remaining amount, and special reserve, accounted for as 20% of the remaining amount. Upon provision or reversal of special reserve in accordance with the law, any remaining amount together with unappropriated earnings at beginning of the period shall be distributed according to the following resolution adopted at the stockholders’ meeting: Distribution shall not be made if the balance of distributable earnings is less than 5% of paid-in capital.

• B. In addition, the total amount of dividends declared every year shall be at least 70% of distributable earnings, of which stock dividends shall be at least 50% and cash dividends shall be lower than 50%.

• C. The Company may determine a better proportion of cash and stock dividends distribution based on its actual operating conditions and capital utilization plan for the following year.

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• D. The earnings distribution for 2021 and 2020 as resolved by the Board of Directors on June 23, 2022 and July 20, 2021. Details are as follows:

Legal reserve Special reserve Reversal of special reserve (Note) Cash dividends Stock dividends Total	Amount Dividends per share (in dollars) Amount Dividends per share (in dollars) 390,101 $ 376,735 $ 780,203 721,503 3,413) ( 7,620) ( 2,751,521 1.89 $ 2,099,757 1.50 $ - 559,935 0.40 3,918,412 $ 3,750,310 $ Year ended December 31,2022 Year ended December 31,2021
	390,101 $ 780,203 3,413) ( 2,751,521 - 3,918,412 $

• Note ： Special reserve was provided for employees’ transition for financial technology development according to Jing-Guan-Zheng-Chuan Letter No. 1080321644 and can be reversed for employees’ transition.

• E. The earnings distribution for 2022 as resolved by the Board of Directors on March 8, 2023 is set forth below:

reversed for employees’ transition. The earnings distribution for 2022 as resolved by orth below:	the Board of Directors on March 8, 2023 is set	the Board of Directors on March 8, 2023 is set
Provision of legal reserve Provision of special reserve Cash dividends Total	Year ended December 31, 2022
	Amount	Dividends per share (in dollars)
	81,278 $ 162,557 567,774 811,609 $	0.39 $

29) Brokerage handling fee revenue

Brokerage handling fee revenue
Revenues from brokered trading - TWSE Revenues from brokered trading - OTC Others Total		Year ended December 31,2022		Year ended December 31,2021
		1,706,009 $ 559,912 116,145 2,382,066 $		3,161,596 $ 880,732 111,288 4,153,616 $

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30) Revenues from underwriting business

Revenues from underwriting securities on a firm commitment basis Others Total

31) Net gain (loss) on sale of trading securities

Dealers: -TAIEX -OTC -Overseas trading Subtotal Underwriters: -TAIEX -OTC Subtotal Hedging: -TAIEX -OTC -Overseas trading Subtotal Total

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Year ended Year ended
December 31, 2022 December 31, 2021
$ 54,137 $ 61,104
32,328 42,931
$ 86,465 $ 104,035
Year ended Year ended
December 31, 2022 December 31, 2021
($ 1,366,791) $ 4,188,156
( 158,417) 482,933
( 292,703) ( 183,444)
( 1,817,911) 4,487,645
22,207 20,564
36,833 135,272
59,040 155,836
( 1,207,720) 3,998,363
( 282,485) 68,918
( 1,541) 28,210
( 1,491,746) 4,095,491
($ 3,250,617) $ 8,738,972
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32) Interest revenue

Interest income from margin loans Interest income from bonds Others Total

Year ended December 31,2022		Year ended December 31,2021
737,137 $ 149,628 53,704 940,469 $		853,325 $ 274,506 31,379 1,159,210 $

33) Net valuation gain (loss) on trading securities at fair value through profit or loss

Gain (loss) on sale of securities - dealer Gain (loss) on sale of securities - underwriting Gain (loss) on sale of securities - hedging Total	Year ended December 31,2022	Year ended December 31,2021
	261,290) ($ 62,951) ( 592,199) ( 916,440) ($	1,121,672) ($ 71,558 187,434 862,680) ($

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34) Net gain (loss) on covering of borrowed securities and bonds with resale agreements - short sales

Gain (loss) from the bond investments under resale agreements Gain (loss) from securities borrowing transactions Gain (loss) from covering Total	Year ended December 31,2022 Year ended December 31, 2021 $ 103 ($ 1,270) 319,042 ( 217,126) 163,126 36,503 482,271 $ 181,893) ($

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

	value through profit or loss
36) 37)	Net gain (loss) from issuance of call (put) warrants Net gain (loss) from derivatives Valuation gain (loss) from securities borrowing transactions Valuation gain (loss) from covering Total Net gain (loss) on changes in fair value of call (put) warrant liabilities and redemption Net gain (loss) on exercise of call (put) warrants before maturity Expenses arising out of issuance of call (put) warrants Total Futures contract gain (loss) Option trading gain (loss) OTC option trading gain (loss) Net gain (loss) on foreign exchange derivatives Others Total		Year ended December 31, 2022	Year ended December 31,2021
			1,324,819 $ 56,198 1,381,017 $ Year ended December 31, 2022	325,247) ($ 12,088 313,159) ($ Year ended December 31,2021
		1,807,278 $ 131,769) ( 201,525) ( 1,473,984 $ Year ended December 31,2022		1,193,204) ($ 1,443,684) ( 260,068) ( 2,896,956) ($ Year ended December 31,2021
		80,486) ($ 154,592 16,713 25,695 6,894 123,408 $		389,911 $ 161,788) ( 924,981) ( 83,242 41,690) ( 655,306) ($

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38) Expected credit impairment loss and reversal of impairment gain

Other operating income Handling charges Financial costs Employee benefits expense Impairment (loss) and reversal of impairment gain Recovery of bad debt Total Income from securities lending Net currency exchange gain (loss) Handling fee revenues from funds Others Total Brokerage handling fee expense Dealer handling fee expense Refinancing processing fee expense Total Interest expense from repurchase agreements Loans interest expense Other interest expense Total Salaries Labor and health insurance Pension Other employee benefits Total		Year ended December 31,2022		Year ended December 31,2021
		20,627 $ 1,346 21,973 $ Year ended December 31,2022		7,846 $ 3,312 11,158 $ Year ended December 31,2021
		370,505 $ 106,384 67,176 1,795 545,860 $ Year ended December 31,2022		374,310 $ 179,749 59,519 1,461 615,039 $ Year ended December 31,2021
		226,837 $ 134,823 2,682 364,342 $ Year ended December 31,2022		396,730 $ 158,914 4,649 560,293 $ Year ended December 31, 2021
		62,250 $ 68,421 32,847 163,518 $ Year ended December 31,2022		49,404 $ 29,932 8,755 88,091 $ Year ended December 31,2021
		1,802,901 $ 146,112 75,332 117,595 2,141,940 $		3,227,107 $ 153,773 78,079 156,127 3,615,086 $

39) Other operating income

40) Handling charges

41) Financial costs

42) Employee benefits expense

A. In accordance to the Company’s Article of Incorporation, the remainder of the year-end income before taxes less income before appropriating employees’ compensation and directors’

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remuneration, if any, shall appropriate an employees’ compensation no less than 1.6% and directors’ remuneration no more than 2%. However, when the Company has an accumulated deficit, earnings to cover the deficit shall first be retained before appropriating employees’ compensation and directors’ remuneration.

• B. For the years ended December 31, 2022 and 2021, employees’ compensation was accrued at $19,014 and $94,748, respectively; directors’ remuneration was accrued at $19,014 and $94,748, respectively. The aforementioned amounts were recognized in salary expenses.

• C. For the years ended December 31, 2022, employees’ compensation was estimated at 2% and directors’ remuneration at 2%, based on the period-end income before taxes less income before appropriating employees’ compensation and directors’ remuneration.

• D. The actual distributed amount of employees’ and directors’ remuneration for 2021 as resolved by the Board of Directors was in agreement with the estimates in the 2021 financial statements.

• E. Information on the appropriation of the Company’s earnings as resolved by the Board of Directors would be posted in the “Market Observation Post System” on the Taiwan Stock Exchange Official website.

43) Depreciation and amortization

44)	Other operating expenses Depreciation Amortization Total		Year ended December 31,2022		Year ended December 31,2021
			179,026 $ 45,082 224,108 $		150,889 $ 24,676 175,565 $

Other operating expenses
Other gains and losses Taxes Security lending expenses Computer information expenses TDCC service fee Professional service fee Postage Others Total Financial income Net gain (loss) on disposal of investments Net gain (loss) on valuation of non-operating financial instruments Other non-operating revenues Total		Year ended December 31, 2022		Year ended December 31, 2021
		704,090 $ 243,737 129,866 81,298 84,239 80,012 313,646 1,636,888 $ Year ended December 31,2022		985,535 $ 179,411 123,302 134,050 82,552 77,779 269,362 1,851,991 $ Year ended December 31,2021
	36,242 $ 8,167) ( 1,575 138,483 168,133 $		9,860 $ 8,252 4,901) ( 143,114 156,325 $

45) Other gains and losses

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46) Income tax

A. Income tax expense

(a)Components of income tax expense:

Income tax A. Income tax expense (a)Components of income tax expense:
		Year ended				Year ended
	December 31,2022				December 31,2021
Current tax:
Current tax on profits for the periods	$	136,292			$	607,155
Prior year income tax underestimation
(overestimation)		3,762				50,868
Tax on undistributed surplus earnings		-				852
Total current tax		140,054				658,875
Deferred taxes:
Origination and reversal of temporary
differences		43,260		(		33,531)
Total deferred taxes		43,260		(		33,531)
Income tax expense	$	183,314			$	625,344
(b) The income tax expense relating to components	of other comprehensive income is as follows:
		Year ended				Year ended
	December 31,2022				December 31,2021
Remeasurement of defined benefit obligations	$	19,959			($	25,465)
B. Reconciliation between income tax expense and accounting profit
		Year ended				Year ended
	December 31,2022				December 31, 2021
Tax calculated based on profit before tax and
statutory tax rate	$	182,538			$	926,557
Expenses disallowed by tax regulaiton	(	132,746)			(	62,113)
Prior year income tax overestimation		3,762				50,868
Tax exempt income by tax regulation		129,760			(	715,701)
Effect from Alternative Minimum Tax			-			424,881
Tax on undistributed surplus			-			852
Income tax expense	$	183,314			$	625,344

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• C. Amounts of deferred tax assets or liabilities as a result of temporary differences, tax losses and investment tax credits are as follows:

Deffered tax assets: -Temporary differences: Valuation loss from financial instruments Unrealised exchange loss Pension Other Subtotal Deffered tax liabilities: -Temporary differences: Unrealised exchange gain Other Subtotal Total Deffered tax assets: -Temporary differences: Valuation loss from financial instruments Unrealised exchange loss Pension Other Subtotal Deffered tax liabilities: -Temporary differences: Valuation gain from financial instruments Total			Year ended December 31,2022	Year ended December 31,2022	Year ended December 31,2022	Year ended December 31,2022
		January1	Recognized in profit or loss		Recognized in other comprehensive income			December 31
		8,375 $ 30,925 112,754 3,513 155,567 $ - - - $ 155,567 $	1,034) ($ 30,925) ( - 16 31,943) ($		- $ - 19,959) ( - 19,959) ($		7,341 $ - 92,795 3,529 103,665 $ 9,747) ( 1,570) ( 11,317) ($ 92,348 $
		January1		Recognized in profit or loss		Recognized in other comprehensive income		December 31
	- $ 8,754 87,289 3,341 99,384 $ 2,813) ($ 96,571 $			8,375 $ 22,171 - 172 30,718 $ 2,813 $ 33,531 $		- $ - 25,465 - 25,465 $ - $ 25,465 $		8,375 $ 30,925 112,754 3,513 155,567 $ - $ 155,567 $

• D. As of December 31, 2022, the Company’s income tax returns through 2018 have been assessed and approved by the National Tax Authority.

• E. With respect to the income tax returns of the Company for 2018, the Tax Authority assessed to

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increase income tax payable by $4,581. The Company disagreed with the assessments and had filed for administrative remedy and had recognized the income tax expense based on the assessment.

47) Earnings per share

assessment. ) Earnings per share
Basic earnings per share Net income attributable to common shareholders Dilutive effect of common stock equivalents		Amount after tax Weighted-average outstanding common shares(In thousands) Earnings per share (In dollars) Year ended December 31,2022
		Amount after tax		Weighted-average outstanding common shares(In thousands)
		729,368 $ 1,455,831 0.50 $ - 1,215 729,368 $ 1,457,046 0.50 $ Amount after tax Weighted-average outstanding common shares(In thousands) Earnings per share (In dollars) Year ended December 31,2021
Employee bonus Basic earnings per share Net income attributable to common shareholders Dilutive effect of common stock equivalents
		Amount after tax		Weighted-average outstanding common shares(In thousands)
		4,007,435 $ - 4,007,435 $		1,455,831 4,006 1,459,837		2.75 $ 2.75 $
Employee bonus

(Blank below)

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7. RELATED PARTY TRANSACTIONS

1) Names and relationships of related parties

Names of related parties

Uni-President Enterprises Corp.

President Capital Management Corp. President Futures Corp. Company President Securities (HK) Ltd. Associates President Insurance Agency Corp. Company PSC Venture Capital Investment Limited Company President Securities (Nominee) Ltd. President Wealth Management (HK) Ltd. Uni-President Asset Management Corp. President Tokyo Co., Ltd. President Tokyo Auto Leasing Co., Ltd. ScinoPharm Taiwan, Ltd. Ton Yi Industrial Corp. President Chain Store Corp. (PCSC) President Professional Baseball Team Co., Ltd. Presco Netmarking, Inc. Tainan Spinning Retail and Distribution Co., Ltd. Qware Systems & Services Corporation Kai Yu (BVI) Investment Co., Ltd Cayman President Holdings Limited Funds managed by Uni-President Asset Management Corp.

Relationship with the Company Entity having significant influence on the Company Subsidiary of the Company PSC Subsidiary of the Company PSC Subsidiary of the Company PSC Subsidiary of the Company PSC Subsidiary of the Company PSC Subsidiary of the Company PSC Subsidiary of the Company PSC Associate Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Other related party Security investment trust fund raised by the Uni-President Asset Management Corp.

2) Significant related party transactions and balances

A. Stock trading(shown as Financial assets at fair value through profit or loss)

ignificant related party transactions and balances . Stock trading(shown as Financial assets at fair value through profit or loss)	ignificant related party transactions and balances . Stock trading(shown as Financial assets at fair value through profit or loss)	ignificant related party transactions and balances . Stock trading(shown as Financial assets at fair value through profit or loss)	ignificant related party transactions and balances . Stock trading(shown as Financial assets at fair value through profit or loss)	ignificant related party transactions and balances . Stock trading(shown as Financial assets at fair value through profit or loss)
. Futures guarantee deposits receivable Year ended December 31,2022 Year ended December 31,2021 Transaction content Purchase Price Purchase Price Subsidiary of the Company PSC: Company PSC Venture Capital Investment Limited Company Chyunn Environment Corporation 10,500 $ - $ December 31,2022 December 31,2021 Subsidiary of the Company PSC: President Futures Corp. 4,954,584 $ 4,353,971 $
		4,954,584 $		4,353,971 $

B. Futures guarantee deposits receivable

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C. Accounts receivable

C. Accounts receivable
D. Other receivables Entity having significant influence on the company: Uni-President Enterprises Corp. Subsidiary of the Company PSC: President Futures Corp. Company President Securities (HK) Ltd. Other related party: ScinoPharm Taiwan, Ltd. President Chain Store Corp. (PCSC) Others Total Subsidiary of the Company PSC: President Futures Corp. Others Other related party: Others Total	December 31,2022 350 $ 3,522 - 336 406 103 4,717 $ December 31,2022 $ 300 21 14 335 $	December 31,2021 312 $ 3,090 555 526 207 102 4,792 $ December 31, 2021
		$ 175 32 9 216 $

－ E. Lease transactions lessee

• (A) The Group leases business vehicles and multifunction printers, etc., from President Tokyo Co., Ltd. Rental contracts are typically made for periods of 1 to 5 years. Rents are paid monthly.

• (B) Right-of-use assets:

• a. Acquisition of right-of-use assets:

ht-of-use assets: cquisition of right-of-use assets:
isposals of right-of-use assets: Other related party: President Tokyo Co., Ltd. President Tokyo Auto Leasing Co., Ltd. Total Other related party: President Tokyo Co., Ltd.	Year ended December 31,2022 3,550 $ - 3,550 $ Year ended December 31,2022 1,018 $	Year ended December 31,2021
		3,432 $ 3,732 7,164 $ Year ended December 31,2021
		2,185 $

• b. Disposals of right-of-use assets:

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(C) Lease liabilities

– a. Lease liabilities current

Lease liabilities–non-current Other related party: President Tokyo Co., Ltd. President Tokyo Auto Leasing Co., Ltd. Total Other related party: President Tokyo Co., Ltd. President Tokyo Auto Leasing Co., Ltd. Total	December 31, 2022 6,536 $ 742 7,278 $ December 31,2022 9,952 $ 2,192 12,144 $	December 31,2021 6,472 $ 737 7,209 $ December 31, 2021 13,362 $ 2,934 16,296 $

• b. Lease liabilities non-current

• c. Financial costs

Financial costs
Other related party: President Tokyo Co., Ltd. President Tokyo Auto Leasing Co., Ltd. Total	Year ended December 31,2022		Year ended December 31,2021
	145 $ 21 166 $		180 $ 2 182 $

d. Net gain on lease modification

Other related party: President Tokyo Co., Ltd.

F. Refundable deposits

Subsidiary of the Company PSC: President Futures Corp.

G. Accounts payable

Subsidiary of the Company PSC: President Futures Corp.

Year ended December 31,2022		Year ended December 31,2021
1 $ December 31,2022		7 $ December 31,2021
34,000 $ December 31,2022		34,000 $ December 31,2021
2,127 $		697 $

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H. Guarantee deposit received

H. Guarantee deposit received
I. Bonds sold under repurchase agreements J. Handling fee revenue Terms of handling fee revenue mentioned above are parties. K. Futures commission income Subsidiary of the Company PSC: President Futures Corp. Others Associate: Uni-President Assets Management Corp. Other related party: President Tokyo Co., Ltd. Total Other related party: Cayman President Holdings Ltd. Entity having significant influence on the company: Uni-President Enterprises Corp. Subsidiary of the Company PSC: Others Security investment trust fund raised by the Uni-President Asset Management Corp.: Funds managed by Uni-President Asset Management Corp. Other related party: Others Total		similar to those of transactions with third December 31,2022 December 31,2021 $ 16,137 $ 16,137 807 811 1,044 1,044 1,418 1,418 19,406 $ 19,410 $ December 31,2022 December 31,2021 $- $69,200 Year ended December 31,2022 Year ended December 31, 2021 $ 4 $ 6 28 74 70,846 69,708 1,042 1,217 71,920 $ 71,005 $

parties. Futures commission income
Subsidiary of the Company PSC: President Futures Corp.		Year ended December31,2022		Year ended December31,2021
		43,532 $		42,884 $

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L. Net gain (loss) on wealth management-trust income from sales of funds	L. Net gain (loss) on wealth management-trust income from sales of funds
	Year ended		Year ended
	December 31, 2022	December 31,2021
Associates:
Uni-President Assets Management Corp.	11,157 $	$	6,730

The revenues were collected on a monthly basis in accordance with contract terms.

M.Other operating income - handling fee revenues from underwriting fund

Associates: Uni-President Assets Management Corp.	Year ended December 31, 2022 Year ended December 31,2021 64,420 $ 53,784 $

The revenues were collected on a monthly basis in accordance with contract terms.

N. Rent income

Rent income
Period Subsidiary of the Company PSC President Capital Management Corp 2019.04.01~2024.03.31 Others Associates: Uni-President Assets Management Corp. 2016.01.01~2024.03.31 Other related party: President Tokyo Co., Ltd. 2019.04.01~2024.03.31 Total	Deposit 627 $ 317 1,044 1,418		Year ended December 31, 2022		Year ended December 31, 2021
			$ 3,723 2,732 6,492 8,942 21,889 $		$ 3,644 2,755 6,490 9,061 21,950 $

Rental income mentioned above is derived from leasing part of the Company’s office space and business premises to various related parties and calculated as agreed by both parties. Lease payments are collected on schedule in accordance with the terms of the lease contracts.

O. Revenues from underwriting business - other revenues from underwriting business

Entity having significant influence on the company: Uni-President Enterprises Corp.		Year ended December 31,2022		Year ended December 31,2021
		$450		$600

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P. Stock custodian income

Stock custodian income
		Year ended		Year ended
	December 31,2022		December 31,2021
Entity having significant influence on the company:
Uni-President Enterprises Corp.	$	4,231	$	3,908
Subsidiary of the Company PSC
Other		68		68
Associate:
Uni-President Assets Management Corp.		135		134
Other related party:
ScinoPharm Taiwan, Ltd.		2,298		2,547
Ton Yi Industrial Corp.		1,248		1,271
President Chain Store Corp. (PCSC)		2,583		2,478
Others		669		667
Total	$	11,232	$	11,073

Terms of stock custodian income mentioned above are similar to third parties. Q. Net gain (loss) from derivatives

Net gain (loss) from derivatives
Other related party: Cayman President Holdings Limited Kai Yu (BVI) Investment Co., Ltd Total		Year ended December 31,2022	Year ended December 31,2021
		- $ - - $	1,360) ($ 1,290) ( 2,650) ($

R. Other operating expenses- equipment rental and copy expense

a. Equipment rental b. Copy expense Other related party: President Tokyo Co., Ltd. Other related party: President Tokyo Co., Ltd.		Year ended December 31,2022		Year ended December 31,2021
		20 $ Year ended December 31,2022		18 $
				Year ended December 31,2021
		270 $		592 $

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c. Advertising expense

c. Advertising expense
d. Service expense e. Books and magazines S. Clearing charges-futures T. Financial expense Subsidiary of the Company PSC: President Capital Management Corp. Other related party: Presco Netmarking, Inc. President Professional Baseball Team Co., Ltd. Tainan Spinning Retail And Distribution Co., Ltd. Qware Systems & Services Corporation Others Total Subsidiary of the Company PSC: President Capital Management Corp. Subsidiary of the Company PSC: President Capital Management Corp. Subsidiary of the Company PSC: President Futures Corp. Other related party: Cayman President Holdings Limited Kai Yu (BVI) Investment Co., Ltd Total	Year ended December 31,2022 $ 13 11,584 2,310 2,000 1,663 12 17,569 $ Year ended December 31,2022 50,400 $ Year ended December 31, 2022	Year ended December 31,2021 $ - 15,395 2,310 2,000 - 473 20,178 $ Year ended December 31,2021 50,400 $ Year ended December 31, 2021
	163 $ Year ended December 31, 2022 21,420 $ Year ended December 31,2022 58 $ - 58 $	435 $ Year ended December 31,2021 14,089 $ Year ended December 31,2021
		1,601 $ 2,080 3,681 $

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U. Purchases of trading securities – dealer

U.	Purchases of trading securities–dealer	Purchases of trading securities–dealer	Purchases of trading securities–dealer	Purchases of trading securities–dealer	Purchases of trading securities–dealer
V.	Compensation of key management personnel The compensation of key management such as directors, general managers, vice general managers were as follows: Ending Shares (In thousands) EndingBalance Gain(loss) Entity having significant influence on the company: Uni-President Enterprises Corp. 72 4,795 $ 588) ($ Security investment trust fund raised by the Uni-President Asset Management Corp.: Funds managed by Uni-President Asset Management Corp. 490,857 25,384) ( Other related parties: President Chain Store Corp. - - 275) ( Other 21 358 726 Total 496,010 $ 25,521) ($ Ending Shares (In thousands) EndingBalance Gain(loss) Entity having significant influence on the company: Uni-President Enterprises Corp. 100 6,860 $ 67) ($ Security investment trust fund raised by the Uni-President Asset Management Corp.: Funds managed by Uni-President Asset Management Corp. - 39,013 3,084 Other related parties: President Chain Store Corp. - - 367) ( Other 54 816 179) ( Total 46,689 $ 2,471 $ December 31,2022 December 31,2021 Year ended December 31,2022 Year ended December 31,2021 Salary and short-term employee benefits 131,591 $ 334,690 $ Retirement benefits 972 930 Other long-term employee benefits - - Termination benefits - - Share-based payment - - Total 132,563 $ 335,620 $
			131,591 $ 972 - - - 132,563 $		334,690 $ 930 - - - 335,620 $

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8. PLEDGED ASSETS

The Company’s assets pledged or restricted for use were as follows:

Assets Trading securities (par value) - Corporate bonds - Government bonds - Overseas bonds - International bonds - Bank debentures Financial assets at fair value through other comprehensive income - current - Overseas bonds (par value) Other current assets: - Pledged demand deposits - Pledged time deposits - Government bonds (par value) Property and equipment - Land and buildings (book value) Pledged time deposits (stated as other non-current asset) - Operating guarantee deposits Financial assets at fair value through profit or loss - current: Financial assets at fair value through profit or loss - non-current:	December31,2022 December31,2021 1,000,000 $ 500,000 $ 848,100 1,507,300 2,661,333 7,124,566 237,302 623,210 100,000 300,000 2,400,355 - 250,167 5,244,571 400,000 400,000 50,000 50,000 1,091,048 1,096,408 505,000 505,000	Purposes
		Securities for bonds sold under repurchase agreements Securities for bonds sold under repurchase agreements Securities for bonds sold under repurchase agreements Securities for bonds sold under repurchase agreements Securities for bonds sold under repurchase agreements Securities for bonds sold under repurchase agreements Collections on behalf of third parties and reimbursement for wages and stocks Securities for short-term loans and guarantees for issuance of commercial papers Trust fund deposit-out Securities for short-term loans and guarantees for issuance of commercial papers Security deposits

9. SIGNIFICANT COMMITMENTS

None.

10. SIGNIFICANT LOSS FROM NATURAL DISASTER

None.

11. SIGNIFICANT SUBSEQUENT EVENT

None.

12. OTHER

1) Management objective and policy of financial risks

A. Risk management objective

The Company continually strengthens risk culture to every employee and makes sure that the Company can actively develop various businesses under a healthy and effective risk management system. At the same time, by creating value of an entity and continually increasing profit, profit maximization may be achieved within appropriate risk tolerance.

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• B. Risk management system

• In order to ensure the completeness of risk management system, run the balancing mechanism of risk management, and improve the division efficiency of risk management, the Company sets up “Risk Management Policy”. Such policy aims to establish internal system compliance and the guiding tools for policies communication within the Company and enable every layer of the Company engaged in different tasks to identify, evaluate, monitor, and control various risks with establishment of consistent compliance rules for risks of each business so that the risks can be controlled within the limits set in advance.

• The Company’s risk management system covers risks incurred from businesses in and off the balance sheet, such as market risk, credit risk, liquidity risk, operating risk, legal risk, model risk, reputation risk and climate risk, which are all included in the risk management.

• C. Risk management organization

• Risk management organization: Board of Directors, Risk Management Committee, Risk Control Office, Business units and other related segments (such as Office of Auditing, Office of General Manager, Compliance segment, Legal segment, Finance segment, Settlement segment and General Affair segment) are in charge of planning, supervising and execution.

• (A) The Board of Directors should ensure the effectiveness of risk management and be responsible for the ultimate result and the following duties:

  • a. To establish proper risk management system, operating process, and risk management culture in the Company with allocation of necessary resource for better execution and operation.

  • b. Policy of risk management review.

  • c. Review and approval of business application, transaction authorization and risk limit.

• (B) The Risk Management Committee reports to the Board of Directors and is responsible for the following:

  • a. Review risk management policy.

  • b. Review the highest risk tolerance.

  • c.Submit regular reports to the Board of Directors in relation to the risk management status of the whole Company.

• (C) The General Manager supervises daily risk management of the entire Company and is responsible for the following:

  • a. Supervise and monitor daily risk management of the entire Company.

  • b. Approval of management exceptions.

• (D) Assets and Liabilities Committee reports to the General Manager and is responsible for the following:

  • a. Set up the ultimate guidelines for assets and liabilities management of the entire Company.

  • b. Analyze and control the entire Company’s assets and liabilities portfolio.

  • c. Approval of various businesses’ quotas.

  • d. Gather and analyze information on domestic and offshore interest rate, exchange rate, prosperity fluctuation, political and economic environmental changes, and predict the financial trend in the future.

• (E) Risk Control Office implements risk management policy and related regulations and reports to the Risk Management Committee. Risk Control Office also reports daily risk management to the General Manager and is responsible for the following:

  • a. Establish Risk Management Policy of the entire Company.

  • b. Develop effective method for measurement and risk management in an entity.

  • c. Review risk management system of business units.

  • d. Generate risk report through information gathering and consolidation.

  • e. Analyze various business risks and report to the General Manager.

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  - f. Report the risk management situation to the Risk Management Committee according to a meeting’s nature and needs.

  - g. Carry out duties as designated by the Risk Management Committee and control risks of business units.

• (F) Auditing Office is responsible for the following:

  • a. Execute operating risk control.

  • b. Include the risk management system into internal audit program and carry out the daily audit schedule.

  • c. Assess the effectiveness of internal control and verify the executed result.

• (G) Compliance segment and legal segment under the Office of General Manager are responsible for the following:

  • a. Compliance segment should make sure that the business operation and risk management system are in compliance with relevant regulations.

  • b. Legal segment is responsible for legal risk control.

  • c. Compliance segment also provides services of Anti-Money Laundering and Counter Terrorism Financing, including designs specification and internal control, establishes transaction monitoring, oversees the effective implementation of business units, conducts the employee training and reports any suspicion of money laundering.

• (H) Finance segment is responsible for the following:

  • a. Verify the correctness of position information and reasonability of profit and loss calculation.

  • b. Control and analyze self-owned capital adequacy ratio.

  • c. Analyze the appropriateness of structures of the assets and liabilities.

• (I) Business units are responsible for the following:

  • a. Set up risk management details of various businesses according to the risk management policy and other related regulations.

  • b. Provide sufficient position information and risk control information to the Risk Control Office.

• (J) Settlement division is responsible for the following:

  • a. Clearing and settlement; risk control and management of margin purchase and short sale of securities.

  • b. Risk control and management of trading middle office and enforcement of rules governing risk management of business segments.

• (K) General Affair segment is responsible for the following:

  • a. Verify and manage greenhouse gas.

  • b. Sustainable resources management, responsible procurement and supplier management.

• D. Risk management policy

In order to ensure the completeness of risk management system, run the balancing mechanism of risk management, and improve the division efficiency of risk management, the Company sets up “Risk Management Policy”. Such policy aims to establish internal system compliance and the guiding tools for policies communication within the Company and enable every layer of the Company engaged in different tasks to identify, evaluate, monitor, and control various risks with establishment of consistent compliance rules for risks of each business so that the risks can be controlled within the limits set in advance.

Risk management processes include risk identification, risk evaluation, risk supervision and various risk control. Each kind of risk evaluations and responding strategies are described as follows:

• (A) Market risk management

The Company has implemented risk management information system (Risk Manager) in

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relation to market risk control. All trading positions of the Company have been included in the daily risk control system for the calculation of Value at Risk (VaR). Limit exceeding indicators are mainly the nominal principal, stop-loss, sensitivity (Greeks) and VaR. The risk management report is presented on a daily basis for implementation of regular control and limit exceeding handling procedures.

• (B) Credit risk management

In relation to risk control, the quantitative model of default rate adopts KMV model to calculate the default rate of issuers with credit exposure of the issuing company and the trading counterparties, and credit risk of securities disclosed in the report. The credit exposure is mitigated through regular review of credit status.

• (C) Fund liquidity risk

Unit in charge of fund procurement regularly predicts future fund demand and supply, and consolidates company guarantee or endorsement and capital lending businesses to monitor the condition of fund procurement on a daily basis.

• (D)Settlement segment is responsible for confirming the settlement and clearing, accounts opening and the actual disbursement. Finance segment prepares vouchers based on the actual transaction evidence and compares whether the accounts and cash accounts are matched, and confirms the operating risks of accuracy of the transaction from an accounting perspective. Auditing segment is responsible for internal audit and internal control, and regularly samples and checks the performance of each unit.

• (E) Legal segment is responsible for reviewing of the Company’s various derivative financial instrument contracts, ISDA and individual account contracts, etc. and handle all legalrelated issues.

• (F) Climate risks

The potential climate risk on investment position is estimated based on the two main risk indicators of climate risk, the physical risk and the transition risk. The Company complies with the policy guidelines set by the competent authorities and initiatives or guidelines internationally and generally recognised to enhance the quality and transparency of information disclosure.

• E. Hedging and risk-offsetting strategy

  • (A) Policies of hedging and risk mitigating are parts of the Company’s risk management policies, and the hedging position and hedged trading position are supposed to be one portfolio, of which the gain and loss and risk information are measured on a consolidated basis.

  • (B) The overall position (hedging position and trading position) is included in the daily risk management system to calculate Value at Risk and other relevant information. Limit exceeding indicators mainly include nominal principal, stop-loss point, price sensitivity and VaR. With the presentation of daily risk management report, routine control and limit exceeding treatment can be executed.

  • (C) The continued effectiveness of hedging and risk-offsetting strategy is measured by the gain and loss of overall position (hedging position and trading position), in order to track reasonableness of the profit or loss of hedging position and the offsetting relationship with the profit or loss of trading position, and to control them within a reasonable range.

• 2) Credit risk

• A. Source and definition of credit risk

The credit risk exposure of the Company as a result of engagement in financial transactions include issuer’s credit risk, credit risk of counterparty and credit risk of underlying assets:

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• (A) Credit risk of the issuer refers to the issuers of financial debt instruments held by the Company failing to repay its obligation due to the fact that the issuer breaches the contract resulting in the risk of financial loss to the Company.

• (B) Credit risk of counterparty refers to risk of financial loss to the Company arising from default by the counterparty of financial instruments on the settlement or payment obligation.

• (C) Credit risk of the underlying assets happens when the credit rating of the underlying assets linked to the financial instrument is downgraded by the rating agency or when the losses occur as a result of contract default.

The financial assets held by the Company which could result in credit risk include bank deposit, debt securities, derivatives transactions in OTC, bonds purchased/sold under resale/repurchase agreements, refundable deposit of securities lending, futures trade margins, other refundable deposits and receivables.

• B. Maximum credit risk exposure and credit risk concentration

The maximum exposure to credit risk of financial assets in the parent company only balance sheet, without consideration of the collateral or other credit enhancements, is equivalent to the carrying amount. In Taiwan, the sources of credit risk of the Company are primarily resulting from cash deposited with banks or other financial institutions, debt securities issued or guaranteed by a bank, derivative instruments transaction underwritten by the Company, and all counterparties of customer margin deposits accounts being financial institutions. Credit risks of various financial assets are as follows:

• (A) Cash and cash equivalents

Cash and cash equivalents include time deposit, demand deposits and checking deposits. Correspondent institutions are mainly domestic financial institutions.

• (B) Financial assets at fair value through profit and loss -current a. Fund

  • The funds held by the Company are bond funds. As the positions held are not significant, credit risk is deemed low.

• b. Commercial papers

The commercial papers held by the Company are repurchase agreements. As all the counterparties are financial institutions with good credit, the credit risk from counterparties is extremely low.

• c. Debt securities

Debt securities are mainly positions like government bonds, corporate bonds, convertible corporate bonds and foreign bonds and the issuers are primarily R.O.C. government, domestic and foreign legal entities. 16% of convertible corporate bond is guaranteed by banks. Details are as follows:

• (a)Government bonds

The bonds held by the Company are mostly government bonds (inclusive of central and local government). As a whole, the credit risk of the bonds held by the Company is low.

• (b) Corporate bonds

The corporate bonds held by the Company are mainly underlying investment with good credit rating and those with rating above (S&P BB).

(c)Convertible corporate bond

The convertible corporate bonds held by the Company are mostly issued by the domestic legal entities. The Company mitigates highly risky credit exposure of the issuers by control through Taiwan Corporate Credit Risk Index (TCRI).

(d)Foreign bonds

The foreign bonds held by the Company are mainly underlying investment with good

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credit rating and those with rating above (S&P BB).

• (C) Financial assets at fair value through other comprehensive income – current

• The foreign government bonds held by the Company are classified as debt instruments at fair value through other comprehensive income. In general, the bonds held by the Company are with lower credit risk.

• (D) Derivatives- futures trade margin

When engaging in futures trades in stock exchange market, the Company needs to deposit margin into a margin deposit account of a financial institution designated by the futures merchants as a guarantee to fulfil contractual obligation in the future. As a result, the credit risk is low.

• (E) Derivatives-OTC

The Company signs International Swaps and Derivatives Association (ISDA) agreements with each counterparty when engaging in OTC derivatives as an agreement regarding such transactions for both parties. In the agreement, it provides a fundamental contractual model for OTC derivative transactions. If any party breaches the contract or terminates the transactions early, then all the open interest covered in the agreement should be settled by net amount as bound in the contract. When the ISDA agreement is signed, the Credit Support Annex (CSA) is also signed. According to the CSA, collateral will be transferred from a party to the other during transaction process to mitigate the risk of counterparty in open interest. Please refer to Note 6(9).

Types of OTC derivative transactions in which the Company is engaged include swap transaction. The counterparties are all from financial service industry and mainly located in Taiwan and United Kingdom.

• (F) Bonds investment under a resale agreement Bonds sold under a resale agreement are the bonds that the client sold to the Company at a price, interest rate, length of period as agreed by two parties and the client shall repurchase the bonds at the specified price upon maturity. The Company needs to assume credit risk from counterparties when underwriting such business, as the payment being delivered to the other party. With consideration of good collateral obtained, the net of credit risk exposure from counterparties can be effectively reduced. As all the counterparties are financial institutions with good credit rating, the credit risks from counterparties are extremely low. Please refer to Note 6(9).

• (G) Margin loans receivable

• Margin loans receivable are the loans provided to the client in order to process businesses of margin trading and short sale using the securities purchased through financing as collateral. The Company monitors the clients’ margin ratio through information system on a daily basis. As the margin ratio of margin trading is set at 130% according to Regulations Governing the Conduct of Securities Trading Margin Purchase and Short Sale Operations by Securities Firms, the credit risk is extremely low.

• (H) Receivables of securities business money lending Receivables of securities business money lending are the non-restricted purpose loan business and monetary financing business, pursuant to an agreement between a securities firm and a customer, using customer securities and other commodities as collateral. The Group regularly assesses its customer line of credit and implements appropriate credit control. As the margin ratio of margin trading is set at 130% according to Regulations Governing the Conduct of Securities Trading Margin Purchase and Short Sale Operations by Securities Firms, the credit risk is extremely low.

• (I) Guaranteed price for securities lending

Guaranteed price for securities lending is the sale price of the Company’s securities sold by

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other securities firms through margin trading after deduction of securities transactions tax and service fee, which is deposited in other securities firms as collateral. As all the counterparties are financial institutions with good credit rating, the credit risk from counterparties is extremely low.

• (J) Refundable deposits for securities lending

  • Refundable deposits for securities lending are the margins deposited in other securities firm as collateral when the Company’s securities are sold. As all the counterparties are financial institutions with good credit, the credit risk from counterparties is extremely low.

• (K) Receivables

  • Receivables are the credit rights arising from the securities business including settlement receivables of consignment trading, settlement receivables of operating securities sold, financing interest receivables of self-operating credit transaction, receivables of consignment trading for securities, and receivables from banks’ underwriting on foreign exchange transactions and foreign fund demand. As the majority of the Company’s receivables from the consignment businesses and self-operating businesses are settlement of securities from OCT or TWSE, the credit risk is extremely low. As the foreign exchange transactions are simply the receipt or payment of different currencies and the correspondent banks are of good credit rating, the credit risk is extremely low.

• (L) Other current assets

  • Other current assets are mainly the collateral deposited in the bank for application for shortterm debt limit and guarantee for application for issuance of commercial papers. As the correspondent banks are all financial institutions with good credit rating, the credit risk is extremely low.

• (M) Financial assets at fair value through profit and loss – non-current

  • In order to underwrite trust business, the Company deposits central government bonds in the Central Bank as collateral. Regardless of the bonds themselves or the financial institutions where the bonds deposited, the credit risk is extremely low.

• (N) Other non-current assets

  • Other non-current assets mainly comprise operating guarantee deposits, settlement funds, and refundable deposits. Operating guarantee deposits are mainly deposited in domestic banks with good credit rating. Settlement funds are deposited in securities exchange. Settlement funds are used as compensation when a party to a marketable securities transaction fails to fulfil the settlement obligation. The credit risks from the institutions where these two assets are deposited are extremely low. The refundable deposits refer to cash or other assets which are deposited externally by the Company and can be used as refundable deposits. Because deposits are placed in various financial institutions and each deposit amount is small, the credit risk is dispersed and the credit exposure of overall refundable deposit is extremely low.

• C. Expected credit loss assessment

• In the assessment of impairment and calculation of expected credit losses, the Company considers reasonable and supporting information about past events, current conditions and future economic conditions. The Company determines at the balance sheet date whether there has been a significant increase in credit risk since initial recognition or whether credit impairment has occurred and recognizes expected credit loss according to which stage the asset belongs: no significant increase in credit risk or low credit risk at balance sheet date (Stage 1), significant increase in credit risk (Stage 2), and credit impaired (Stage 3). 12-month expected credit losses are recognized for assets in Stage 1, and lifetime expected credit loses are recognized for assets

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in Stage 2 and Stage 3.

The definition of and expected credit losses recognized for each stage are as follows:

Item	Stage 1	Stage 2	Stage 3
Definition	No significant deterioration of credit quality of the financial asset since initial recognition, or the financial asset is considered low-risk at the balance sheet date.	Significant deterioration of credit quality of the financial asset since initial recognition, but the asset is not yet credit impaired.	The financial asset is credit impaired at the financial reporting date.
Expected credit losses recognition	12-month expected credit losses	Lifetime expected credit losses	Lifetime expected credit losses

• (A) Judgements of the significant increase in credit risk since initial recognition

• Judgements and assumptions used to determine whether the credit risk has a significant increase since initial recognition when the Company calculates expected credit loss under IFRS 9 are as follows:

• a. If contractual payments are over 30 days past due according to the payment terms, the financial asset is considered to have significant increase in credit risk since initial recognition.

• b. There is significant increase in credit risk at the reporting date if the credit rating of the issuer has been downgraded by more than 2 grades and the final external credit rating at the reporting date is non-investment grade, if the interest payments are over 30 days past due, or if there has been a default in the past.

• (B) Definition of default and credit-impaired financial assets

• According to the definition of credit impairment set by IFRS 9, a financial asset is creditimpaired when one or more events that have occurred and have a significant impact on the expected future cash flows of the financial asset. The criteria used to judge whether a financial asset is credit-impaired since initial recognition includes but is not limited to the following:

• a. Contractual payments or principal or interest payments on bonds are over 3 months (90 days) past due.

• b. Bond investment is rated as “in default” by external credit rating agencies.

• c. Bond issuer has filed for bankruptcy, restructure, or other debt clearance procedures.

• d. Issuer or counterparty has financial difficulties.

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(C) Writing-off policy

If any of the following condition applies, the Company will write off the non-recoverable portion of the overdue receivables as bad debt.

• a. Debt cannot be fully or partially recovered due to dissolution of, disappearance of, settlement with, bankruptcy declaration by the debtor, or any other reason.

• b. The collateral and the assets of the primary and secondary debtors could not be auctioned off after multiple attempts and multiple price discounts, and the Company has not received any real benefits in assuming the collateral.

• c. Payments are over two years past due and could not be recovered after attempts to collect.

• (D) Measurement of expected credit losses

The Company considers reasonable supporting information which shows significant increase in credit risk since initial recognition when calculating expected credit losses. Main indexes include: internal/external credit rating, information of past due, credit spread, other market information in relation to the borrower, issuer or counterparty, and significant increase in credit risk of other financial instrument of the same borrower. Investments in bills and bonds

• (a)Probability of default was based on external credit rating, which include forwardlooking information.

• (b)Loss given default was based on the average loss given default of external credit rating of investment position and counterparties.

• (c)Exposure at default

Stage 1, Stage 2 and Stage 3: Total carrying amount (including interest receivable).

• (E) Consideration of forward-looking information

Historical loss rate (based on the historical experience in the past 3 to 5 years) as obtained and compared with economic environment in the past, nowadays and future (forwardlooking factor) to see whether there is any significant change, and then to properly adjust future loss rate standards. If any significant default event occurs, the loss rate in the current year will be included in the calculation of future loss rate standard.

• D. Table of movements in loss provision of the Company

• (A) For the years ended December 31, 2022 and 2021, there were no changes in the loss allowance for investments in debt instruments measured at fair value through other comprehensive income.

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• (B) Except for debt investments and its interest receivable, the Company applies the modified approach to measure the loss allowance at an amount equal to lifetime expected credit losses for receivables and overdue receivables. The movements in loss provision of marginal receivables, accounts receivable, other receivables-others and other non-current assetsoverdue receivables of the Company are as follows:

Year ended December 31, 2022

At January 1 Provision (reversal of provision) for impairment Derecognised At December 31 At January 1 Provision (reversal of provision) for impairment Derecognised At December 31	Marginal receivable 47,433 $ 19,118) ( - 28,315 $ Marginal receivable	Accounts receivable	Accounts receivable		Other receivables	Other non-current assets-overdue receivables	Total 60,692 $ 20,627) ( 2,867) ( 37,198 $ Total
		742 $ 54) ( 29) ( 659 $ Accounts receivable Year			- $ 12,517 $ - 1,455) ( - 2,838) ( - $ 8,224 $ Other receivables Other non-current assets-overdue receivables ended December 31,2021
	58,840 $ 11,407) ( - 47,433 $		625 $ 117 - 742 $	54 $ 118 172) ( - $		39,388 $ 3,326 30,197) ( 12,517 $	98,907 $ 7,846) ( 30,369) ( 60,692 $

3) Liquidity risk

• A. Definition and source of liquidity risk

Liquidity risk refers to possible financial losses arising from the inability to realize the asset or to obtain sufficient fund to fulfil the financial liabilities soon to be matured. Above situations

may weaken the sources of cash from the Company’s trading and investment activities.

• B. Liquidity risk management procedure and stimulation test

In order to prevent operational crisis as a result of liquidity risk, the Company has established responding crisis process with regular monitoring over liquidity gap of fund.

• (A) Procedure

• In addition to the operating capital for various business and long-term investment, the Company needs to maintain revolving funds at a certain level for daily operation. The use of remaining fund shall avoid high concentration and should be based on the principle of holding sound earning assets with high liquidity and treated in compliance with policies of the Company.

The responsive unit for fund procurement adjusts the liquidity gap to ensure proper liquidity according to the daily volume and movement in the market.

• (B) Stimulation test

• a. The Company reviews fund liquidity risk from a perspective of supply and demand of fund every month with simulation analysis of available fund for emergency including

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scenario analysis of cash, funding limit of financial institutions, margin loans and short sale, and value of disposal of position in order to compute maximum available fund and fund demand. Finally, safety stock of fund is reviewed to monitor liquidity risk.

  - b. Above liquidity risk is generally reviewed monthly. However, if the available limit of increment banking credit risk in financing limit of a financial institution is lower than a certain amount (that is, the amount may be timely adjusted according to the fund liquidity in the market and the actual fund demand and supply in an entity), the safety stock will be reviewed weekly. After the early warning report for fund is submitted, the head of finance segment will call for a fund control meeting.

  - c. Other than individual funding liquidity risk of an entity, stress test of minimization funding supply and maximization funding demand in the event of significant crisis is simulated, including:

     - (a)When there is a significant crisis in the market, the financing limit of the financial institutions and the value of disposal of position can be deemed the minimized ratio of fund supply which is then adjusted according to actual condition to compute the total fund supply under maximum stress.

     - (b)Except for the operating expense, the stock concept is adopted for the calculation of total fund demand under maximum stress.

     - (c)The Company should conduct a review to see whether the total minimized fund supply is more than maximized total fund demand. The Company should further review how long (by month) the difference may cover the operating expenses so that the safety stock of fund (by month) under stress test can be computed.

     - (d)The minimum safety stock of fund under stress test (by month) may be adjusted according to the crisis itself and only operating expense for at least 6 months under a normal stimulation can be deemed safe.

• C. Maturity analysis for the financial assets and financial liabilities held for liquidity risk management

• (A) The Company holds cash and sound earning assets with high liquidity in order to fulfil the payment obligation and potential emergency fund demand in the market. Financial assets held for liquidity risk management are mainly cash and cash equivalents, among which, all time deposits mature within a year. Financial assets at fair value through profit and loss are mainly listed stocks, convertible bonds and debt securities. As all of them have positions in active market, the liquidity risk is deemed low.

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(B) Maturity analysis for the financial liabilities is as follows:

Short-term loans Commercial papers payable Non-derivative financial liabilities Derivative financial liabilities Bonds sold under repurchase agreements Deposits on short sales Deposits payable for securities financing Securities lending refundable deposits Accounts payable (includes notes payable) Collections on behalf of third parties Other payables Other financial liabilities -current Lease liability Total Financial liabilities at fair value through profit or loss-current				December 31,2022	December 31,2022	December 31,2022	December 31,2022	December 31,2022
		Immediately		Less than 3 months		3-12 months		1-5years - $ - - - - - - 33,278 - 87,709 - - 82,231 203,218 $	Total
		- $ - 7,477,868 1,678,216 - 1,809,356 1,809,962 - 10,707,683 639,496 9,063 - - 24,131,644 $		275,000 $ 5,830,000 - - 7,016,989 - - 829,410 22,962 16,313 195,889 2,158,151 18,838 16,363,552 $		- $ - - - - - - 943,903 - - 1,238,086 625,935 46,815 2,854,739 $			275,000 $ 5,830,000 7,477,868 1,678,216 7,016,989 1,809,356 1,809,962 1,806,591 10,730,645 743,518 1,443,038 2,784,086 147,884
									43,553,153 $

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December 31, 2021

Short-term loans Commercial papers payable Non-derivative financial liabilities Derivative financial liabilities Bonds sold under repurchase agreements Deposits on short sales Deposits payable for securities financing Securities lending refundable deposits Accounts payable (includes notes payable) Collections on behalf of third parties Other payables Other financial liabilities -current Lease liability Total Financial liabilities at fair value through profit or loss-current		Immediately		Less than 3 months		3-12 months		1-5years - $ - - - - - - 39,435 - 88,582 - - 120,489 248,506 $	Total
		- $ - 5,124,273 3,047,462 - 1,202,587 1,559,162 - 17,413,904 5,639,615 5,605 - - 33,992,608 $		590,000 $ 8,650,000 - - 9,648,756 - - 1,069,699 7,595 11,653 260,183 1,789,878 18,742 22,046,506 $		- $ - - - - - - 860,073 - - 2,234,060 3,193,261 44,136 6,331,530 $			590,000 $ 8,650,000 5,124,273 3,047,462 9,648,756 1,202,587 1,559,162 1,969,207 17,421,499 5,739,850 2,499,848 4,983,139 183,367
									62,619,150 $

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4) Market risk

• A. Definition of market risk

Market risk refers to the risk of decrease in the Company’s revenue or value of investment portfolio as a result of the changes in exchange rate, commodity price, interest rate, and stock price or other market risk factors.

The Company continually exercises risk management tools such as sensitivity analysis, Value at Risk, stress test and so on to completely and effectively measure, monitor and manage market risk.

• B. Value at Risk (VaR)

Value at Risk is used to measure the possible maximum potential losses in investment portfolio as a result of movement in market risk factor in a specified period and confidence level. The Company currently uses confidence level of 95% to calculate Value at Risk of one day. A VaR model must reasonably, completely and accurately measure the maximum potential risks of financial instruments or investment portfolio before being adopted as a risk management model by the Company. The VaR model used in risk management is continually certified and retrospectively tested to demonstrate that the model can reasonably and effectively measure the maximum potential risks of financial instruments or investment portfolios.

ximum potential risks of financial instruments	or investment portfolios.	or investment portfolios.
Year ended December 31, 2022 Amount December 31, 2022 33,198 $ VaR Maximum 166,546 VaR Average 50,634 VaR Minimum 17,965 Statistical table for one-dayVaR of transactions	Statistical table for one-dayVaR of transactions
	Year ended December 31,2021 December 31, 2021 VaR Maximum VaR Average VaR Minimum	Amount 106,857 $ 288,441 140,407 30,206

Statistical table for VaR of various risk indicators of transactions

Year ended

Year ended
December 31,2022 December 31, 2022 VaR Maximum VaR Average VaR Minimum	Foreign exchange 5,219 $ 17,197 4,329 856	Interest 27,746 $ 34,194 15,077 2,867	Share ownership
			22,573 $ 168,637 48,374 16,070

Statistical table for VaR of various risk indicators of transactions Year ended

Year ended
December 31,2021 December 31, 2021 VaR Maximum VaR Average VaR Minimum	Foreign exchange 1,402 $ 16,890 4,079 1,103	Interest 23,468 $ 43,928 21,628 7,593	Share ownership
			106,496 $ 290,600 139,374 30,696

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C. Information on gap of foreign exchange risk

The following table summarizes financial instruments of foreign assets or liabilities by currency and the foreign exchange exposure presented by book value as of December 31,2022 and 2021 ：

Financial assets in foreign currencies Cash and cash equivalents Financial assets at fair value through profit or loss Financial assets at fair value through comprehensive income - current Investments under the equity method Others Financial liabilities in foreign currencies Financial liabilities at fair value through profit or loss Bonds sold under repurchase agreements Others	USD 1,011,332 $ 3,633,380 1,118,655 - 1,469,878 347,447 3,243,659 3,307,436	EUR AUD RMB HKD 3,991 $ 1,854 $ 18,623 $ 122,097 $ 150,892 414,575 105,713 59,561 - 1,079,977 - - - - 2,764,018 1,396,988 516 157,024 1,536 25,738 57 598 1,347 99 89,976 1,459,403 81,148 - 47 43,949 204,959 14,531 December 31,2022	Others 42,820 $ 278,623 - - 23,730 1,821 69,823 5,728	Total
				1,200,717 $ 4,642,744 2,198,632 4,161,006 1,678,422 351,369 4,944,009 3,576,650

Note: As of December 31, 2022, foreign exchange rates of the above currencies to TWD were 1 USD = 30.710 TWD; 1 EUR = 32.720 TWD; 1 AUD = 20.830 TWD; 1 RMB = 4.408 TWD; and 1 HKD = 3.938 TWD, respectively.

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December 31, 2021
USD EUR AUD RMB HKD Others Total
Financial assets in foreign currencies
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Financial assets in foreign currencies		USD		EUR		AUD		RMB		HKD		Others		Total
Cash and cash equivalents	$	490,710	$	1,969	$	2,005	$	113,423	$	158,768	$	234,811	$	1,001,686
Financial assets at fair value through profit or loss		8,040,988		1,935,974		181,807		798,106		254,269		511,579		11,722,723
Bonds purchased under resale agreements		27,401		-		-		-		-		-		27,401
Investments under the equity method		-		-		-		2,363,197		1,344,033		-		3,707,230
Others		2,033,302		3,697		40,836		19,652		20,186		793		2,118,466
Financial liabilities in foreign currencies
Financial liabilities at fair value through profit or loss		4,332		1,599		106		2,828		195		359		9,419
Bonds sold under repurchase agreements		4,644,791		1,688,801		160,708		588,851		-		136,622		7,219,773
Others		3,883,547		26		40,178		308,104		8,667		5,437		4,245,959

Note: As of December 31, 2021, foreign exchange rates of the above currencies to TWD were 1 USD = 27.680 TWD; 1 EUR = 31.320 TWD; 1 AUD = 20.080 TWD; 1 RMB = 4.344 TWD; and 1 HKD = 3.549 TWD, respectively.

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• D. The total exchange gain (loss), including realized and unrealized, arising from significant foreign exchange variation on the monetary items held by the Company for the years ended December 31, 2022 and 2021, amounted to $106,384 and $179,749, respectively.

• 5) Fair value and hierarchy information

• A. Financial instruments and non-financial instruments not measured at fair value. Except for those listed in the table below, the carrying amounts of the Company’s financial instruments not measured at fair value (including cash and cash equivalents, bonds purchased under resale agreements, margin loans receivable, refinancing guaranty deposits, guaranteed proceeds receivable from refinancing, guaranteed price deposits for security borrowing, security borrowing deposits, customer margin deposit account, notes and accounts receivable, other receivables, short-term loans, commercial paper payable, bonds sold under repurchase agreements, guarantee deposit received from short sales, guaranteed price deposits received from securities borrowers, security borrowing deposits, equity of futures traders, accounts payable, collection for others, and other payables) approximate their fair values. The fair value information of financial instruments measured at fair value is provided in Note 12(5)3.

Non-financial assets December 31, 2022 Investment property December 31, 2021 Investment property	Total Quoted prices of the same assets in active markets (level 1) Other significant observable inputs (level 2) 743,741 $ - $ 743,741 $ 712,476 - 712,476	Significant non-observable inputs(level 3)
		- $ -

The fair value of investment property held by the Company was assessed by external valuation experts using comparison approach and income approach, or the fair value can be assessed based on the market price of the area adjacent to the location where the Company’s investment property is located.

• B. Valuation techniques

(A)For financial instruments held for trading purposes which are classified as non-derivative instruments, their fair values are based on their quoted prices in an active market. If there is no quoted market price for reference, a valuation technique will be adopted to measure the fair value. Estimates and assumptions of valuation technique adopted by the Company are in agreement with the information of estimates and assumptions adopted by market users for financial instrument pricing and the said information shall be accessible to the Company. For those classified as derivative instruments, their fair values are based on their market prices if their quoted prices are available from an active market. If quoted market prices in an active market are not available, SWAP and IRS are valued

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at the discounted cash flow method, and options are valued at the Black-Scholes model.

• (B) When available-for-sale financial assets have quoted market prices available in an active market, the fair value is determined using the market price.

• C. Fair value hierarchy of the financial instruments

• (A) Definitions for the hierarchy classifications of financial instruments measured at fair value

  • a. Level 1

    • Level 1, are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company can access at the measurement date. An active market has to satisfy all the following conditions: a market in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. The Company’s investments in listed stocks, beneficiary certificates, on-the-run Taiwan central government bonds and derivative instruments with quoted market prices, are deemed as level 1.

  • b. Level 2

    • Inputs other than quoted market prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Investments of the Company such as off-the-run issue of emerging stock, government bonds, corporate bonds, bank debentures, convertible corporate bonds, currency swaps, interest rate swaps, options, asset swaps, and most derivatives are all classified within level 2. For the years ended December 31, 2022 and 2021, there was no significant transfer of financial instruments between Level 1 and Level 2.

  • c. Level 3

    • Unobservable inputs for the assets or liability. The fair value of the Company’s investment in unlisted stocks is included in Level 3.

(Blank below)

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(B)Hierarchy of fair value estimation of financial instruments

Recurring fair value Non-derivative financial instruments Assets Financial assets at fair value through profit or loss-current Stock investments Bond investments Others Financial assets at fair value through other comprehensive income-current Stock investments Bond investments Financial assets at fair value through profit or loss - non-current Stock investments Bond investments Financial assets at fair value through other comprehensive income-non-current Stock investments Liabilities Financial liabilities at fair value through profit or loss - current Derivative financial instruments Assets Financial assets at fair value through profit or loss-current Liabilities Financial liabilities at fair value through profit or loss - current		December31,2022	December31,2022
	Total 5,641,044 $ 10,677,909 2,496,243 299,150 2,198,632 16,604 49,779 294,855 7,477,868 5,200,004 1,678,216	Level 1 5,568,337 $ 2,916,006 2,496,243 299,150 2,198,632 - - - 7,477,868 5,194,967 1,087,228	Level 2 72,707 $ 7,761,903 - - - - 49,779 - - 5,037 590,988	Level3
				- $ - - - - 16,604 - 294,855 - - -

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Recurring fair value Non-derivative financial instruments Assets Financial assets at fair value through profit or loss-current Stock investments Bond investments Others Financial assets at fair value through other comprehensive income-current Stock investments Financial assets at fair value through profit or loss - non-current Stock investments Bond investments Financial assets at fair value through other comprehensive income-non-current Stock investments Liabilities Financial liabilities at fair value through profit or loss - current Derivative financial instruments Assets Financial assets at fair value through profit or loss-current Liabilities Financial liabilities at fair value through profit or loss - current		December31,2021	December31,2021
	Total 14,288,286 $ 13,213,896 1,049,451 410,205 12,650 50,124 258,627 5,124,273 4,735,030 3,047,462	Level 1 14,247,565 $ 776,724 1,049,451 410,205 - - - 5,124,273 4,720,306 2,623,530	Level 2 40,721 $ 12,437,172 - - - 50,124 - - 14,724 423,932	Level3
				- $ - - - 12,650 - 258,627 - - -

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(C) The following table is the movement of financial assets at Level 3:

Financial assets at fair value through profit or loss - non-current Venture capital shares Financial assets at fair value through other comprehensive income - non-current Unlisted stocks	January1	Recorded in profit or loss Recorded in other comprehensive income(loss) Acquired/ Issued Transfers into level 3 3,954 $ - $ - $ - $ - 36,228 - - Year ended December 31,2022 Valuation amount Increased Year ended December 31, 2021	Recorded in profit or loss Recorded in other comprehensive income(loss) Acquired/ Issued Transfers into level 3 3,954 $ - $ - $ - $ - 36,228 - - Year ended December 31,2022 Valuation amount Increased Year ended December 31, 2021	Recorded in profit or loss Recorded in other comprehensive income(loss) Acquired/ Issued Transfers into level 3 3,954 $ - $ - $ - $ - 36,228 - - Year ended December 31,2022 Valuation amount Increased Year ended December 31, 2021	Recorded in profit or loss Recorded in other comprehensive income(loss) Acquired/ Issued Transfers into level 3 3,954 $ - $ - $ - $ - 36,228 - - Year ended December 31,2022 Valuation amount Increased Year ended December 31, 2021	Decreased	Decreased	December 31
		Recorded in profit or loss				Sold/ disposed or settled	Transfers out from level 3
	12,650 $ 258,627				- $ -	- $ -	- $ -	16,604 $ 294,855
Financial assets at fair value through profit or loss - non-current Venture capital shares Financial assets at fair value through other comprehensive income - non-current Unlisted stocks	January1	Valuation amount		Increased		Decreased		December 31
		Recorded in profit or loss	Recorded in other comprehensive income(loss)	Acquired/ Issued	Transfers into level 3	Sold/ disposed or settled	Transfers out from level 3
	16,991 $ 186,334	4,341) ($ -	- $ 72,293	- $ -	- $ -	- $ -	- $ -	12,650 $ 258,627

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• (D) The following is the qualitative information of significant unobservable inputs and sensitivity analysis of changes in significant unobservable inputs to valuation model used in Level 3 fair value measurement:

value measurement:
December 31,2022	Fair value	Valuation technique	Significant unobservable input Not applicable Market price net profit after tax multiplier Price to book ratio multiplier Discount for lack of marketability Significant unobservable input	g (weighted average)	Relationship of inputs to fair value
Financial assets at fair value through profit or loss - non-current Venture capital shares Financial assets at fair value through other comprehensive income - non-current December 31,2021 Unlisted stocks	16,604 $ Fair value 294,855	Net asset value Valuation technique Market approach		Not applicable 23.03~24.62 2.93~4.92 20%~30% (weighted average)	Not applicable The higher the multiple,the higher the fair value The higher the discount for lack of marketability, the lower the fair value Relationship of inputs to fair value
Financial assets at fair value through profit or loss - non-current Venture capital shares Financial assets at fair value through other comprehensive income - non-current Unlisted stocks	12,650 $ 258,627	Net asset value Market approach	Not applicable Price to book ratio multiple Discount for lack of marketability	Not applicable 1.80~2.27 6.24%~9.17%	Not applicable The higher the multiple,the higher the fair value The higher the discount for lack of marketability, the lower the fair value

• (E) Valuation process for fair value at Level 3

The parent company’s risk management department is responsible for the verification of fair value categorized in Level 3. The department assesses the independence, reliability, consistency and representativeness of the source information, regularly verifies the valuation models and calibrates the parameters to ensure the valuation process and results are in compliance with IFRSs.

• (F) For the fair value measurement of Level 3, the sensitivity analysis of the fair value to the reasonable alternative hypothesis shows that the fair value measurement of the financial assets by the Company is reasonable. However, use of different valuation models or assumptions may

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result in different measurement. The following is the impact to profit or loss or to other comprehensive income from financial assets and liabilities categorized within Level 3 if the inputs used in valuation models have changed up or down by 1%:

December 31,2022 Financial assets at fair value through profit or loss -non-current Venture capital shares Financial assets at fair value through other comprehensive income - non-current Unlisted stocks December 31,2021	Recognised inprofit or loss	Recognised inprofit or loss	Favourable change Unfavourable change Recognised in other comprehensive income	Favourable change Unfavourable change Recognised in other comprehensive income
	Favourable change	Unfavourable change
	Not applicable Not applicable - - Favourable change Unfavourable change Recognised inprofit or loss		- $ - $ 2,949 2,949) ( Recognised in other comprehensive income
			Favourable change	Unfavourable change
Financial assets at fair value through profit or loss -non-current Venture capital shares Financial assets at fair value through other comprehensive income - non-current Unlisted stocks	Not applicable -	Not applicable -	- $ 2,586	- $ 2,586) (

6) Capital management

• A. Objective of capital management

• (A) The represented capital adequacy ratio basically shall not be lower than 200% in compliance with the warning standard addressed in the “Rules Governing Securities Firms”.

• (B) The Company includes all risks involved in the investment position as a part of risk management, such as market risk, credit risk, liquidity risk, operating risk, legal risk, and model risk and so on. Each risk management responsive unit should identify, evaluate, monitor and control various risks in order to enable the Company to defend impact from financial market, reflect the current operating strategies and make the investment portfolio applied to business planning and development.

• B. Capital management policy and procedure

• In order to secure the long-term and stable development of various businesses and effectively assume risks, the Company manages capital based on the business development, related regulations and financial market environment. Major capital evaluation processes include:

• (A) Each segment should provide accurate and valid source of information to maintain calculation accuracy of capital adequacy ratio.

• (B) After the reporting at the 10th of each month, capital adequacy ratio should be computed by the end of every month. If the result is close to the legal standard, every unit will be called to attend a meeting for discussion and strategic planning to ensure that the basic objective of capital adequacy ratio is not less than 200%.

• (C) Both the risk limits and economic capital of the Company should be agreed by the Board of Directors. The Company should quarterly report details of risk control with disclosure

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of investment condition in order to assess whether the risk position exceeds the limit and whether the investment direction is in line with the market trend. Within the authorized risk limits, the Company is actively engaged in development of various businesses and continually increases profit, creates company value, and complies with the capital management objective.

The Company calculates and reports the capital adequacy ratio according to “Rules Governing Securities Firms”. As of December 31, 2022 and 2021, the capital adequacy ratios were 390% and 379%, respectively, as required by the regulations.

7) Assets and liabilities of trust accounts

Pursuant to Article 17 of Enforcement Rules of the Trust Enterprise Act, balance sheet, income statement, and property list of trust accounts shall be disclosed in the parent company only financial statements on a semiannual basis.

A. Balance sheet of trust accounts

A. Balance sheet of trust accounts
Trust assets	December 31,2022 December 31,2021 367,745 $ 669,217 $ 896,553 923,114 1,016,810 1,284,571 636,044 435,389 57,291 23,127 5,138,258 5,014,866 29,112 60,575 8,141,813 $ 8,410,859 $ December 31,2022 December 31,2021 321 $ 2,130 $ 8,797,747 6,945,206 631,484) ( 1,753,062 24,771) ( 289,539) ( 8,141,813 $ 8,410,859 $ BALANCE SHEET
Bank savings Structured notes Stock Bond Bonds sold under repurchase agreements Fund Accounts receivable Total of trust assets Trust liabilities and equity Accounts payable Trust capital Net income (loss) Accumulated deficit Total of trust liabilities and equity

B. Income statement of trust accounts

Item	STATEMENT OF	STATEMENT OF	Year ended December 31,2022 INCOME		Year ended December 31,2021
			74,219 $ 95,093 373 713 151,071 8,528 2,390 210,809 112,962 1,075 12 657,245		44,486 $ 61,237 5,882 6,967 392,454 5,699 20,265 671,271 718,037 1,996 2 1,928,296

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C. Property list of trust accounts Item Trust expenses Management fee Service fee Other expenses Investment realized loss - bond Investment realized loss - stock Investment realized loss - fund Investment realized loss - structured notes Investment unrealized loss - bond Investment unrealized loss - stock Investment unrealized loss - fund Investment unrealized loss - structured notes Income (Loss) before income tax Income tax (expense) benefit Net income (loss) Item Bank savings Structured notes Stock Bond Bonds sold under repurchase agreements Funds Others Total	Year ended December 31,2022	Year ended December 31,2021
	1,359) ($ 664) ( 4) ( 7,017) ( 2,551) ( 95,742) ( 307) ( 133,461) ( 73,750) ( 855,494) ( 118,272) ( 631,376) ( 108) ( 631,484) ($ December 31,2022 367,745 $ 896,553 5,138,258 636,044 57,291 1,016,810 29,112 8,141,813 $	1,255) ($ 1,311) ( - 1,393) ( 21) ( 34,002) ( 52) ( 14,706) ( 8,156) ( 87,619) ( 26,712) ( 1,753,069 7) ( 1,753,062 $ December 31,2021 669,217 $ 923,114 5,014,866 435,389 23,127 1,284,571 60,575 8,410,859 $

C. Property list of trust accounts

13. OTHER DISCLOSURE ITEMS

1) Information about significant transactions

• A. Lending to others: Excluding security margin trading and conditional bond trading business, there is no lending of funds to either the shareholders or other parties.

• B. Endorsements and guarantees for others ： None.

• C. Acquisitions of real estate exceeding $300 million or 20 percent of contributed capital ： None.

• D. Disposals of real estate exceeding $300 million or 20 percent of contributed capital ： None.

• E. Purchases or sales transactions discount on brokers’ charges with related parties in excess of $5 million ： None.

• F. Receivables from related parties exceeding $100 million or 20 percent of contributed capital ： None.

• G. Significant transactions between parent company and subsidiaries are provided in Note 7.

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2) Related information of investee companies

A. Related information of investee companies

Name of the investor	Name of the investee company	Location	Date of registration	Reference number and the date of approval letter issued byFSC	Major operatingactivities	Balance on December 31,2022 Original i	Balance on December 31,2021 nvestment	EndingBalance	EndingBalance		Revenue of investee company	Net income (loss) of investee company	Investment income (loss) recognised by the Company	Cash dividends	Notes
								Shares 63,817,303 30,000,000 192,600,000 23,400,000 1,000,000 14,904,630 1,000,000 30,000,000 12,000	Percentage 96.69% 100.00% 100.00% 100.00% 100.00% 42.46% 100.00% 100.00% 0.03%	Book vlaue
President Securities Corp. President Securities Corp. President Securities Corp. President Securities Corp. President Securities Corp. President Securities Corp. President Securities Corp. President Securities Corp. President Insurance Agency Corp.	President Futures Corp. President Capital Management Corp. President Securities (HK) Ltd. President Wealth Management (HK) Ltd. President Securities (Nominee) Ltd. Uni-President Asset Management Corp. President Insurance Agency Corp. PSC Venture Capital Investment Limited Company Uni-President Asset Management Corp.	Taipei Taipei Hong Kong Hong Kong Hong Kong Taipei Taipei Taipei Taipei	1994.03.01 1997.04.15 1994.07.26 2002.03.31 1999.08.06 1992.09.03 2008.04.29 2013.10.29 1992.09.03	1994.03.01 Jing- Tou-Shen (83) Gong-Shang Letter No.1114 (Note 1) 1997.02.25 (86) Tai-Cai-Zheng (4) Letter No.17769 1993.11.4 (82) Tai- Cai-Zheng (2) Letter No.40913 2001.12.11 (90) Tai-Cai-Zheng (2) Letter No.166728 1997.10.27 (86) Tai-Cai-Zheng (2) Letter No.04840 2000.07.19 (89) Tai-Cai-Zheng (2) Letter No.56407 (Note2) 2013.08.08 Jing- Guan-Zheng- Chuan Letter No.1020028529 2000.07.19 (89) Tai-Cai-Zheng (2) Letter No.56407	Futures brokerage and dealer Securities investment consulting Securities dealer, brokerage, underwriting and consulting Wealth management Nominee Service Investment Trust Insurance Agent Consultation of investment management and venture capital; other unprohibited or unrestricted businesses beyond the permit Investment Trust	644,650 $ 326,000 848,735 92,091 3,403 667,622 10,000 300,000 478	644,650 $ 326,000 848,735 92,091 3,403 667,622 10,000 300,000 478			2,547,290 $ 304,894 1,334,862 60,574 1,552 747,473 57,181 267,501 607	942,643 $ 72,697 14,419 - - 1,269,129 92,756 2,618 1,269,129	207,931 $ 7,327) ( 91,736) ( 140) ( 555 435,683 33,496 5,562) ( 435,683	201,052 $ 7,404) ( 91,736) ( 140) ( 555 185,006 33,481 5,563) ( 149	81,686 $ - - - - 199,648 22,550 - 161	Subsidiary of the Company Subsidiary of the Company Subsidiary of the Company Subsidiary of the Company Subsidiary of the Company Associates Subsidiary of the Company Subsidiary of the Company Associates

Note1 ： As FSC was established in July, 2004, President Futures Corp. was approved by the Investment Commission, Ministry of Economic Affairs.

Note2 ： When securities corporations invest in domestic business within FSC's limitation, there is no need to obtain the approval from FSC in advance, according to Tai-Cai-Zheng (2) Letter No.0930000005. Therefore, there was no reference numbers for President Personal Insurance Agency Co., Ltd.

Note3 ： Subsidiary President Securities (HK) Ltd., President Wealth Management (HK) Ltd. and President Securities (Nominee) Ltd. were approved by the board of directors in March 2022 to deal with the dissolution and liquidation matters.

~93~

• B. Lending to others: Excluding security margin trading and conditional bond trading business, there is no lending of funds to either the shareholders or

• other parties.

• C. Endorsements and guarantees for others ： None.

• D. Acquisitions of real estate exceeding $300 million or 20 percent of contributed capital ： None.

• E. Disposals of real estate exceeding $300 million or 20 percent of contributed capital ： None.

• F. Purchases or sales transactions discount on brokers’ charges with related parties in excess of $5 million ： None.

• G. Receivables from related parties exceeding $100 million or 20 percent of contributed capital ： None.

• H. Accordance with Jing-Guan-Zheng-Quan-Zi Letter No. 10703209011, the Company is required to disclose details of businesses run by foreign enterprises that were incorporated in the countries identified as non-signatories to the IOSCO MMoU or have not obtained securities or futures license of signatories to the IOSCO MMoU ：

• a) Revenue from engagement in consultation on assets management business, service contents and litigation ： None.

(Blank below)

~94~

b) Balance sheets

PRESIDENT WEALTH MANAGEMENT (HK) LTD.

BALANCE SHEETS

DECEMBER 31, 2022 AND 2021

Assets		December 31,2022	December 31,2022			December 31,2021 Expressed in HK	December 31,2021 Expressed in HK	dollars
	Amount 15,266,005 $ 115,825 15,381,830 15,381,830 $ - $ - 23,400,000 8,018,170) ( 15,381,830 15,381,830 $			%		Amount		%
Current assets Cash and cash equivalents Other receivables Total current assets Total assets Liabilities and shareholders’equity			99 1 100 100 - - 152 52) ( 100 100		15,252,550 $ 4,028 15,256,578 15,256,578 $ 20,400 $ 20,400 23,400,000 8,163,822) ( 15,236,178 15,256,578 $		100 - 100 100 - - 154 54) ( 100 100
Current liabilities Other payables Total liabilities Shareholders’ equity Share capital Retained earnings Accumulated deficit Total shareholders’ equity Total liabilities and shareholders’ equity

~95~

PRESIDENT SECURITIES (NOMINEE) LTD. BALANCE SHEETS DECEMBER 31, 2022 AND 2021

PRESIDENT SECURITIES (NOMINEE) LTD. BALANCE SHEETS DECEMBER 31, 2022 AND 2021	PRESIDENT SECURITIES (NOMINEE) LTD. BALANCE SHEETS DECEMBER 31, 2022 AND 2021
Assets Amount % Current assets Cash and cash equivalents 394,026 $ 100 Total current assets 394,026 100 Total assets 394,026 $ 100 Liabilities and shareholders’equity Current liabilities Other payables - $ - Total liabilities - - Shareholders’ equity Share capital 1,000,000 254 Retained earnings Accumulated deficit 605,974) ( 154) ( Total shareholders’ equity 394,026 100 Total liabilities and shareholders’ equity 394,026 $ 100 December 31,2022		%		December 31,2021 Expressed in HK		dollars
				Amount		%
	100 100 100 - - 254 154) ( 100 100		447,719 $ 447,719 447,719 $ 16,800 $ 16,800 1,000,000 569,081) ( 430,919 447,719 $		100 100 100 4 4 223 127) ( 96 100

~96~

c) Statements of comprehensive income

PRESIDENT WEALTH MANAGEMENT (HK) LTD STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021

Accounts	Accounts			Year ended December 31,2022	Year ended December 31,2022		Expressed in HK dollars Year ended December 31,2021
						Amount % 41,985) ($ 389 41,985) ( 389 31,191 289) ( 10,794) ( 100 - - 10,794) ($ 100 Expressed in HK dollars Year ended December 31,2021
Expenditures and expenses Other operating expenses Total expenditures and expenses Non-operating gains and losses Other gains and losses Profit (Loss) before tax Income tax expense Net income (loss) Accounts FOR	FOR
			Amount 37,226) ($ 37,226) ( 333 36,893) ( - 36,893) ($		% 101 101 1) ( 100 - 100	Amount % 24,710) ($ 102 24,710) ( 102 372 2) ( 24,338) ( 100 - - 24,338) ($ 100
Expenditures and expenses Other operating expenses Total expenditures and expenses Non-operating gains and losses Other gains and losses Profit (loss) before tax Income tax expense Net income (loss)

~97~

d) Transactions between related parties and foreign business ： None.

3) Information of overseas branches and representative office: None

4) Disclosure of investment in Mainland China

Investee in Mainland China Jin Yuan President Securities Co., Ltd.	Main business activities Securities brokering, securities dealing, securities underwriting and sponsoring service	Paid-in capital (Note 4) $6,612,000	Investment method (Note 1) Directly invest in a company in Mainland China	Investment method (Note 1) Directly invest in a company in Mainland China	Accumulated amount of remittance from Taiwan to Mainland China as of January 1, 2022 2,481,388 $	Amount remitted from Taiwan to Mainland China/ Amount remitted back to Taiwan for the year ended December 31,2022	Amount remitted from Taiwan to Mainland China/ Amount remitted back to Taiwan for the year ended December 31,2022	Amount remitted from Taiwan to Mainland China/ Amount remitted back to Taiwan for the year ended December 31,2022	Accumulated amount of remittance from Taiwan to Mainland China as of December 31,2022 3,138,169 $	Net income of investee as of December 31, 2022 577,258) ($	Ownership held by the Company (direct or indirect) 49%	282,857) ($ The financial statements that are audited by international accounting firm which has cooperative relationship with accounting firm in R.O.C. Investment income (loss) recognized by the Company for the year ended December 31, 2022 (Note 2)	Book value of investments in Mainland China as of December 31, 2022 2,764,018 $	Accumulated amount of investment income remitted back to Taiwan as of December 31,2022 - $
						Remitted to Mainland China 656,781 $	Remitted back to Taiwan - $
Company name				Accumulated amount of remittance from Taiwan to Mainland China as of December 31,2022				Investment amount approved by the Investment Commission of the Ministry of Economic Affairs(MOEA)				Ceiling on investments in Mainland China imposed by the Investment Commission of MOEA
Jin Yuan President Securities Co.,Ltd.				$ 3,138,169				$ 3,138,169				$ 17,883,893

Note 1: Investment methods are classified into the following three categories; fill in the number of category each case belongs to:

(1) Directly invest in a company in Mainland China.

(2) Through investing in an existing company in the third area, which then invested in the investee in Mainland. (Please indicate investment company in the third area.)

(3) Others.

~98~

Note 2: In the ‘Investment income (loss) recognized by the Company for the year ended December 31, 2022’ column:

• (1) It should be indicated if the investee was still in the incorporation arrangements and had not yet any profit during this period.

• (2) Indicate the basis for investment income (loss) recognition in the number of one of the following three categories:.

• a. The financial statements that are audited and attested by international accounting firm which has cooperative relationship with accounting firm in R.O.C.

• b. The financial statements that are audited and attested by R.O.C. parent company's CPA.

• c. Others.

Note 3: The numbers in this table are expressed in New Taiwan Dollars.

• Note 4: The paid-in capital of Jin Yuan President Securities Co., Ltd. is CNY 1.5 billion.

5) Major shareholder information

5) Major shareholder information
Major shareholder	Number of shares held(thousands)	Shareholdingratio
Uni-President Enterprises Corp.	417,516	28.67%

• Note 1: The information of major shareholders in this table is based on the last business day of the end of each quarter by Taiwan Depository and Clearing Corp., which determines shareholders holding more than 5% of ordinary shares and special shares of securities firms that have completed unregistered delivery (including treasury shares). As for the share capital recorded in the financial report of the securities firm and the actual number of shares delivered by the securities firm without physical registration, there may be differences due to different calculation bases.

• Note 2: In the case of the above information, if a shareholder delivers shares to the trust, it is disclosed in individual accounts by the trustee who opened the trust account by the trustee. As for the shareholders’ declaration of insider’s shareholding in accordance with the Securities and Exchange Act, their shareholding includes their own shareholding plus the shares delivered to the trust and the right to use the trust property. For information on insider’s equity declaration, please refer to the Market Observation Post System.

~99~

PRESIDENT SECURITIES CORPORATION STATEMENT OF CASH AND CASH EQUIVALENTS

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Item Checking deposits Deposits denominated in NTD Current deposits Deposits denominated in NTD Deposits denominated in foreign currencies Time deposits Deposits denominated in NTD Deposits denominated in foreign currencies Total	Description	Amount
	USD 31,432 thousands, exchange rate: 30.710 EUR 122 thousands, exchange rate: 32.720 AUD 89 thousands, exchange rate: 20.830 RMB 4,225 thousands, exchange rate: 4.408 HKD 31,005 thousands, exchange rate: 3.938 JPY 174,258 thousands, exchange rate: 0.232 GBP 26 thousands, exchange rate: 37.090 NZD 31 thousands, exchange rate: 19.440 SGD 18 thousands, exchange rate: 22.880 ZAR 202 thousands, exchange rate: 1.811 Maturity Date: January 1, 2023 to September 19, 2023 interest rates: 0.335%~1.04% USD 1,500 thousands, exchange rate: 30.710 Maturity Date: March 5, 2023 interest rates:5.15%	$ 497,806 318,771 1,154,652 1,175,500 46,065
		$ 3,192,794

~100~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%) ( (	Cost $ 208 45 ) $ 163 $ 25,000 10,000 10,000 10,000 20,000 75,000 31,313 106,313 3,084 ) $ 103,229	Unit price (dollars) $ 163.00 $ 9.92 9.9582 9.8645 9.6946 9.8655	Total amount $ 163 $ 163 $ 24,125 9,958 9,865 9,695 19,730 73,373 29,856 $ 103,229	Changes in the fair value attributable to changes in credit risk $ - $ - $ - - - - - - - $ -	Remark
Security lending Stocks： Evergreen Marine (Taiwan) Ltd. Valuation adjustment Total Open-ended funds, money market instrument: Domestic Funds Yuanta Global Leaders Balanced Fund-TWD(A) Yuanta 0-2 Year Investment Grade Corporate Bond Fund- TWD(A) Yuanta 2-10 Year Investment Grade Corporate Bond Fund- TWD(A) Yuanta 10 plus Year Investment Grade Corporate Bond Fund-TWD(A) Cathay US Premium Bond Fund TWD-A Subtotal Offshore Funds Fidelity Funds - Japan Value Fund A-ACC-USD (hedged) Subtotal Valuation adjustment Total Trading securities-dealer Stocks: TSE Stocks		1,000 2,431,907 1,000,000 1,000,000 1,000,000 2,000,000 51,493	$ 10

~101~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost $ 50,801 69,103 67,579 67,001 12,265 10,659 13,269 84,625 653,380 11,235 12,989 10,462 17,720 63,341 10,305 85,030 29,796 54,853 34,664 39,291 21,691 10,698 46,099 34,577 10,968 17,136 36,165	Unit price (dollars) $ 47.10 233.00 67.20 47.20 69.50 63.80 40.70 286.50 448.50 59.20 268.50 281.00 15.00 625.00 169.00 163.00 48.60 28.15 35.75 40.00 54.60 35.90 112.00 315.50 335.50 641.00 11.05	Total amount $ 50,444 71,112 75,331 66,854 13,622 10,527 12,943 85,665 662,607 11,189 12,888 10,116 16,890 58,127 10,310 85,499 28,917 54,641 37,037 39,135 21,840 10,770 44,688 35,967 10,065 16,666 36,282	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - - - - - - - - - - - - - - - - -	Remark
Taiwan Cement Corp. 2nd Preferred Shares Makalot Industrial Co., Ltd. Chung-Hsin Electric & Machinery Mfg. Corp. Walsin Lihwa Corporation Run Long Construction Co., Ltd. Lite-On Technology Corp. United Microelectronics Corp. Delta Electronics, Inc. Taiwan Semiconductor Manufacturing Co., Ltd. Synnex Technology International Corp. Asustek Computer Inc. Realtek Semiconductor Corporation AUO Corporation MediaTek Inc. Catcher Technology Co., Ltd. Evergreen Marine Corp. (Taiwan) Ltd.T U-Ming Marine Transport Corp. Eva Airways Corporation Aerospace Industrial Development Corporation Cathay Financial Holding Co., Ltd. Cathay Financial Holding Co., Ltd.Preferred Stock B Shin Kong Financial Holding Co.,Ltd. Preferred Shares B Asia Vital Components Co., Ltd. Novatek Microelectronics Corp. Genius Electronic Optical Co.,Ltd. Global Unichip Corp. Innolux Corporation		1,071,000 305,201 1,121,000 1,416,399 196,000 165,000 318,000 299,006 1,477,385 189,000 48,000 36,000 1,126,000 93,003 61,003 524,532 595,000 1,941,081 1,036,000 978,383 400,000 300,000 399,000 114,000 30,000 26,000 3,283,440	$ 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10

~102~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost $ 39,956 12,844 35,595 11,998 13,580 10,741 635,970 2,336,386 10,796 23,674 25,730 79,095 10,996 48,148 14,070 11,933 140,525 364,967 21,628 11,601 10,132	Unit price (dollars) $ 826.00 376.50 788.00 93.90 73.70 41.85 48.80 433.50 1,335.00 265.00 74.20 427.50 161.00 315.00 111.63 31.49 49.03	Total amount $ 40,475 12,651 33,884 11,925 13,708 10,588 636,339 2,349,702 10,004 27,745 25,365 81,620 10,240 47,453 13,363 12,601 139,125 367,516 22,471 11,298 12,142	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - - - - - - - - - - -	Remark
Lotes Co., Ltd Jentech Precision Industrial Co., Ltd Alchip Technologies, Limited Ase Technology Holding Co., Ltd. Chong Hong Construction Co., Ltd. CTCI Corporation Others (the balance of each security does not exceed $10,000, collectively presented) Subtotal OTC stocks Yao Sheng Electronic Co., Ltd. International Games System Co.,Ltd. Ememory Technology Inc. Gudeng Precision Industrial Co., Ltd Taiwan Semiconductor Co., Ltd. Globalwafers Co., Ltd E Ink Holdings Inc. Phison Electronics Corp. Others (the balance of each security does not exceed $10,000, collectively presented) Subtotal Emerging stocks Kanpai Co., Ltd Hengs Technology Co., Ltd. UBI Pharma Inc.		49,001 33,601 43,000 127,000 186,000 253,000 14,376,715 205,000 64,002 19,000 308,000 138,000 111,000 83,000 40,002 1,709,276 201,298 358,796 247,653	$ 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10

~103~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost $ 15,734 81,125 140,220 80,668 14,524 852,850 10,447 14,276 29,429 19,444 16,738 10,787 11,532 16,890 13,730 10,512 11,710 21,688 26,389 14,971 24,974 19,343	Unit price (dollars) $ 31.73 110.20 25.40 5.91 8.80 31.08 33.11 3.98 32.50 26.90 38.54 15.05 30.83 35.10 46.14 23.97 19.39 34.14 39.40 34.87	Total amount $ 14,559 81,277 141,747 81,217 14,199 866,642 11,625 13,986 33,080 21,890 16,835 11,755 11,523 16,916 13,719 10,653 11,760 21,166 27,010 14,434 24,045 19,283	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - - - - - - - - - - - -	Remark
Argo Yachts Development Co.,Ltd. Others (the balance of each security does not exceed $10,000, collectively presented) Subtotal Exchange Traded Fund Yuanta/P-shares Taiwan Top 50 ETF Yuanta/P-shares Taiwan Dividend Plus ETF Yuanta Daily Taiwan 50 Bear -1X ETF Yuanta S&P GSCI Crude Oil ER Futures ETF Yuanta U.S. Treasury 20+ Year Bond ETF CAPITAL TAIEX DAILY LEVERAGED 2X ETF CAPITAL TAIEX DAILY INVERSED -1X ETF Cathay U.S. Treasury 20+ Year Bond ETF Fubon TWSE Corporate Governance 100 ETF Fubon 1-3 Years US Treasury Bond ETF JKO S&P GSCI Brent Crude 2x Leveraged ER Futures ETF Yuanta U.S. Treasury 1-3 Year Bond ETF Yuanta US 20+ Year BBB Corporate Bond ETF Yuanta China Treasury + Policy Bank 3-5 Year Bond ETF Cathay Korea/Taiwan IT Premier ETF Cathay FTSE Emerging Markets ETF Yuanta US 20+ Year AAA-A Corporate Bond ETF Capital ICE 0-10 Year China Policy Bank ETF CTBC USD Corporate 10+ Year High Grade Capped Bond ETF		458,826 2,684,799 737,000 559,000 146,640,000 1,321,000 450,000 999,082 5,499,995 518,000 437,000 299,000 1,124,000 445,000 303,512 254,880 883,000 1,393,000 422,790 610,269 553,000	$ 10

~104~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost $ 24,012 18,802 21,279 13,803 17,763 509,274 183,579 17,429 62,783 17,518 31,171 21,912 11,223 14,428 15,199 174,433 2,375,510 2,042	Unit price (dollars) $ 34.73 36.30 33.94 40.06 31.50 28.49 16.17 13.55 11.13 10.87 10.74 12.22 14.82 16.37 16.24	Total amount $ 23,894 18,840 16,597 14,021 17,829 490,626 184,775 19,065 62,506 19,707 27,591 18,550 11,248 14,864 14,697 169,181 2,365,729 -	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - - - - - - - -	Remark
CTBC Banking Senior 10+ Year Bond ETF Fubon FTSE Asian Broad Bond Index-China Investment- Grade ETF Yuanta US 10+ Investment Grade Bank Bond ETF CAPITAL ICE 7+ YEAR CHINA POLICY BANK EXCHANGE TRADED FUND CTBC U.S. Treasury 20+ Year Bond ETF UPAMC 10Y+ Aa-A USD Senior Corporate Bond ETF Cathay MSCI Taiwan ESG Sustainability High Dividend Yield ETF Cathay Taiwan 5G PLUS ETF Fubon FTSE Vietnam ETF CTBC Taiwan ESG Leading Semiconductor ETF Cathay Global Autonomous EV ETF CTBC Battery and Energy Storage Technology ETF CTBC Selected Financials and Data Industry ETF CAPITAL TIP CUSTOMIZED TAIWAN SELECT HIGH DIVIDEND EXCHANGE TRADED FUND Fubon Global ESG Green Energy ETF Others (the balance of each security does not exceed $10,000, collectively presented) Subtotal Unlisted stocks Others (the balance of each security does not exceed $10,000, collectively presented)		688,000 519,000 489,000 350,000 566,000 17,221,000 11,427,000 1,407,000 5,616,000 1,813,000 2,569,000 1,518,000 759,000 908,009 905,000 7,502,340 29,046

~105~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%) 0.625% 0.750% 0.625% 0.250% 0.780% 1.500% 1.650% 1.750% 1.650% 1.490% 1.590% 1.650% 1.900% 5.815% 3.800% 3.500% 4.793% 5.882% 0.400%	Cost $ 200,004 100,011 250,240 99,781 200,000 850,036 50,000 200,000 200,000 100,000 200,000 50,000 100,000 100,000 168,905 44,080 35,264 153,652 61,420 100,015 12,431 1,575,767	Unit price (dollars)	Total amount $ 199,606 99,752 248,914 99,516 199,196 846,984 49,756 200,176 201,024 100,185 199,972 49,971 100,149 99,999 168,000 43,378 34,993 154,548 61,317 96,706 12,171 1,572,345	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - - - - - - - - - - - -	Remark
Bonds: Government bonds A07107 A07111 A08101 A10109 HB0701 Subtotal Ordinary Corporate Bonds B618D1 B618D7 B618DA B718A4 B903YD B903YE B903YH B903YP P20QNBF3 P20QNBF8 P21QNBF2 P19APICO1 P20QIB1 G13111 Others (the balance of each security does not exceed $10,000, collectively presented) Subtotal

~106~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost $ 11,302 30,221 13,552 40,069 29,210 14,349 16,737 9,931 14,535 18,346 10,046 40,768 14,753	Unit price (dollars)	Total amount $ 11,235 28,243 12,998 35,136 29,362 13,673 14,222 10,000 14,543 19,382 10,095 37,832 14,625	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - - -	Remark
Convertible corporate bonds YEONG GUAN ENERGY TECHNOLOGY GROUP CO., LTD 3RD UNSECURED CONVERTIBLE BOND BETTER LIFE GROUP CO.,LTD. 1ST DOMESTIC SECURED CONVERTIBLE BOND MERRY ELECTRONICS CO.,LTD. DOMESTIC 3RD UNSECURED CONVERTIBLE BONDS WALSIN TECHNOLOGY CO., LTD 1ST DOMESTIC UNSECURED CONVERTIBLE BONDS EVERGREEN MARINE CORP. (TAIWAN) LTD. DOMESTIC 4TH UNSECURED CONVERTIBLE BOND CHINA AIRLINES COMPANY DOMESTIC 7TH UNSECURED CONVERTIBLE BONDS EVA AIRWAYS CORP. 5TH DOMESTIC UNSECURED CONVERTIBLE BOND CENTER LABORATORIES 5TH DOMESTIC SECURED CONVERTIBLE BONDS LEMTECH HOLDINGS CO., LIMITED 4TH UNSECURED CONVERTIBLE BOND GLORIA MATERIAL TECHNOLOGY CORP 6TH DOMESTIC UNSECURED CONVERTIBLE BOND. SPEED TECH CORP. 2ND DOMESTIC UNSECURED CONVERTIBLE BOND WISTRON NEWEB CORPORATION 3RD DOMESTIC UNSECURED CONVERTIBLE BOND M.J. INTERNATIONAL CO.,LTD. 1ST UNSECURED CONVERTIBLE BOND

~107~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%) 5.250% 5.125% 2.750% 1.750% 5.400% 6.000% 4.992% 5.350% 5.457% 5.132% 4.950% 4.017% 4.297% 5.088% 4.800% 5.250% 3.631% 4.750%	Cost $ 223,934 487,753 11,251 61,332 22,013 14,212 177,454 20,787 10,411 20,838 20,834 79,314 103,265 20,784 41,672 41,672 84,839 20,765 61,449 16,382 36,852	Unit price (dollars) 617.27	Total amount $ 224,624 475,970 11,111 61,282 21,961 13,979 173,848 21,143 10,638 20,632 21,110 78,670 103,317 20,739 41,803 42,007 84,924 20,413 61,506 15,708 36,738	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - - - - - - - - - - -	Remark
Others (the balance of each security does not exceed $10,000, collectively presented) Subtotal Overseas securities: Overseas stocks AEHR TEST S Overseas bonds CAF 5.25 11/21/25 FABUH 5.125 10/13/27 ACGB 2.75 11/21/27 ACGB 1.75 11/21/32 AIRSER 5.4 11/15/28 AIRSER 6 11/15/32 AUSPOS4.992112/08/27 ANZ 5.35 11/04/27 WSTP 5.457 11/18/27 NAB 5.132 11/22/24 NAB 4.95 11/25/27 NAB FLOAT 11/25/25 NAB FLOAT 11/25/27 ANZ 5.088 12/08/25 SUNAU 4.8 12/14/27 BNS 5.25 12/06/24 TD 3.631 12/13/29 BCHINA 4.75 11/23/25		18,000

~108~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%) 4.778% 1.700% 5.000% 4.000% 4.250% 4.250% 5.055% 7.336% 7.390% 7.325% 7.472% 7.776% 7.767% 6.833% 7.385% 5.625% 5.063% 4.867% 5.669% 5.472% 4.125% 5.500% 5.375% 4.250% 5.125% 4.250% 5.268%	Cost $ 30,675 12,442 20,213 16,537 16,302 19,509 10,418 86,922 107,147 54,030 32,276 109,303 40,669 77,465 38,715 31,583 21,471 83,115 31,302 15,342 14,538 77,785 98,896 15,103 207,528 14,949 32,101	Unit price (dollars)	Total amount $ 30,688 12,133 19,237 16,142 15,686 19,403 10,284 86,370 106,628 54,169 32,031 111,006 40,835 77,817 38,428 31,338 21,389 82,230 30,633 15,158 14,395 77,483 98,759 14,980 207,444 14,598 31,989	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - - - - - - - - - - - - - - - - -	Remark
BCHINA FLOAT11/25/25 DBR 1.7 08/15/32 ANNGR 5 11/23/30 DB 4 11/29/27 SOCGEN 4.25 12/06/30 UKT 4.25 06/07/32 NWG 5.0546 08/12/25 HSBC 7.336 11/03/26 HSBC 7.39 11/03/28 BACR 7.325 11/02/26 NWG 7.472 11/10/26 STANLN7.776 11/16/25 STANLN7.767 11/16/28 SANUK 6.833 11/21/26 BACR 7.385 11/02/28 AIA 5.625 10/25/27 MUFG 5.063 09/12/25 NORBK 4.867 09/14/27 MIZUHO5.669 09/13/33 MUFG 5.472 09/13/33 KOMRMR4.125 04/20/27 KORELE 5.5 04/06/28 KORELE5.375 04/06/26 EIBKOR 4.25 09/15/27 INDKOR5.125 10/25/24 KDB 4.25 09/08/32 KSA 5.268 10/25/28

~109~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%) 4.375% 2.375% 5.000% 5.500% 5.493% 4.049% 4.625% 5.398% 5.609% 5.500% 4.750% 4.400% 4.125% 5.499% 6.250% 6.150% 6.270% 5.850% 5.610% 6.296% 6.204% 3.750% 5.546% 4.125%	Cost $ 30,817 12,412 46,690 30,897 90,548 33,490 36,962 182,698 16,322 20,749 18,486 14,053 19,305 30,875 16,328 16,100 48,831 30,848 30,970 48,297 47,940 13,032 313,638 305,833 48,813 3,676,145	Unit price (dollars)	Total amount $ 30,228 12,008 46,214 31,075 90,745 32,495 36,764 181,776 16,279 20,552 18,419 13,591 18,797 31,269 16,124 15,950 47,682 30,844 30,816 47,534 47,459 12,847 313,110 303,713 48,470 3,656,432	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - - - - - - - - - - - - - - - -	Remark
BIDU 4.375 05/14/24 BIDU 2.375 08/23/31 PIFKSA 5 10/13/27 BSFR 5.5 11/23/27 DIBUH 5.493 11/30/27 ENBW 4.049 11/22/29 TOYOTA4.625 06/08/26 ASBBNK5.398 11/29/27 PHILIP5.609 04/13/33 POLAND 5.5 11/16/27 VLVY 4.75 06/15/26 PTTGC 4.4 03/30/32 T 4.125 11/15/32 KOMATS5.499 10/06/27 ORCL 6.25 11/09/32 ORCL 6.15 11/09/29 C 6.27 11/17/33 AL 5.85 12/15/27 C 5.61 09/29/26 MS 6.296 10/18/28 BAC 6.204 11/10/28 MET 3.75 12/05/30 JPM 5.546 12/15/25 CHGRID4.125 05/07/24 Others (the balance of each security does not exceed $10,000, collectively presented) Subtotal

~110~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%) (	Cost $ 16,150 9,814 25,964 10,500 8,776 19,276 11,965 15,749 27,714 11,893,031 34,500 ) $ 11,858,531 $ 2,122	Unit price (dollars) $ 21.05 648.40 1,458.72	Total amount $ 14,734 9,639 24,373 10,374 8,896 19,270 11,747 15,605 27,352 $ 11,858,531 $ 2,396	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - $ - $ -	Remark
Hong Kong stocks CSOP Hang Seng Daily -1x Inverse Product Others (the balance of each security does not exceed $10,000, collectively presented) Subtotal Japan stocks TOHO TITANIUM CO., LTD. Others (the balance of each security does not exceed $10,000, collectively presented) Subtotal Foreign index funds ISHARES MSC Others (the balance of each security does not exceed $10,000, collectively presented) Subtotal Total Valuation adjustment Total Trading securities-underwriter Stocks: TSE Stocks Others (the balance of each security does not exceed $10,000, collectively presented)		700,000 256,000 16,000 5,800 8,053 23,635 54,000

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost $ 78,500 31,600 18,593 15,377 13,938 43,632 31,948 10,200 46,500 14,300 15,500 20,904 29,800	Unit price (dollars)	Total amount $ 77,872 38,868 17,945 14,986 16,450 41,818 38,123 12,036 54,731 18,311 16,585 21,590 29,860	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - - -	Remark
Bonds: Convertible corporate bonds DYACO INTERNATIONAL INC 3RD DOMESTIC UNSECURED CONVERTIBLE BOND SCIVISION BIOTECH INC. 2ND UNSECURED CONVERTIBLE BOND MERRY ELECTRONICS CO.,LTD. DOMESTIC 3RD UNSECURED CONVERTIBLE BONDS MERCURIES & ASSOCIATES HOLDING, LTD. 1ST UNSECURED CONVERTIBLE BOND EDIMAX TECHNOLOGY CO., LTD. 7TH SECURED CONVERTIBLE BOND ULTRA CHIP INC. 2ND UNSECURED CONVERTIBLE BOND DONPON PRECISION INC.3RD DOMESTIC SECURED CONVERTIBLE BONDS WINMATE INC. 2ND DOMESTIC UNSECURED CONVERTIBLE BOND GUDENG PRECISION INDUSTRIAL CO., LTD 3RD UNSECURED CONVERTIBLE BOND OKBIOTECH 2ND SECURED CONVERTIBLE BOND OK BIOTECH CO., LTD. 3RD UNSECURED CONVERTIBLE BOND SHANYUAN CO., LTD 3RD DOMESTIC SECURED CONVERTIBLE BOND PARPRO CORPORATION 3RD DOMESTIC UNSECURED CONVERTIBLE BOND

~112~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost $ 48,000 12,864 18,400 83,368 47,724 31,700 14,586 23,700 40,800 36,601 728,535 730,657 58,520 $ 789,177	Unit price (dollars)	Total amount $ 54,696 12,653 19,173 88,000 54,375 32,334 18,876 24,838 44,227 38,434 786,781 $ 789,177	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - $ -	Remark
NAN REN LAKE LEISURE AMUSEMENT CO., LTD.4TH DOMESTIC SECURED CONVERTIBLE BOND ACBEL POLYTECH INC. 1ST DOMESTIC UNSECURED CONVERTIBLE BOND ARLITECH ELECTRONIC CORP. 3RD DOMESTIC SECURED CONVERTIBLE BONDS GREAT TREE PHARMACY CO., LTD 2ND UNSECURED CONVERTIBLE BOND TAIWAN NAME PLATE CO., LTD 1ST SECURED CONVERTIBLE BOND FU CHUN SHIN MACHINERY MANUFACTURE CO., LTD. 3RD UNSECURED CONVERTIBLE BOND ASIA METAL INDUSTRIES, INC. 1ST SECURED CONVERTIBLE BOND BRINNO INCORPORATED 1ST DOMESTIC UNSECURED CONVERTIBLE BOND IBASE TECHNOLOGY INC. DOMESTIC 6TH UNSECURED CONVERTIBLE BONDS Others (the balance of each security does not exceed $10,000, collectively presented) Subtotal Total Valuation adjustment Total

~113~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost $ 17,193 27,340 88,986 26,821 191,606 213,811 22,755 118,298 20,089 327,776 30,950 42,203 16,556 19,231 273,613 86,276 40,514 55,173 11,391 62,826 10,933 43,970 12,158 27,866	Unit price (dollars) $ 47.20 246.00 40.70 286.50 99.90 448.50 281.00 625.00 55.70 163.00 65.50 80.10 35.75 61.40 40.00 11.30 2040.00 315.50 142.50 120.00 29.40 641.00 826.00 788.00	Total amount $ 16,983 28,290 73,504 29,796 179,655 190,839 16,579 90,625 19,761 331,899 29,919 40,750 16,803 18,604 272,968 86,661 40,596 45,432 10,830 48,720 11,760 42,307 12,390 26,843	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - - - - - - - - - - - - - -	Remark
Trading securities-hedging Stocks: TSE Stocks Walsin Lihwa Corporation Lotus Pharmaceutical Co., Ltd. United Microelectronics Corp. Delta Electronics, Inc. Hon Hai Precision Ind. Co., Ltd. Taiwan Semiconductor Manufacturing Co., Ltd. Realtek Semiconductor Corporation MediaTek Inc. HTC Corporation Evergreen Marine Corp. (Taiwan) Ltd. Yang Ming Marine Transport Corp. Wan Hai Lines Ltd. Aerospace Industrial Development Corporation Wisdom Marine Lines Co., Limited Cathay Financial Holding Co., Ltd. Ibf Financial Holdings Co., Ltd. Largan Precision Co.,Ltd Novatek Microelectronics Corp. Faraday Technology Corp. Unimicron Technology Corp. Wistron Corporation Global Unichip Corp. Lotes Co., Ltd Alchip Technologies, Limited		359,816 115,000 1,806,000 104,000 1,798,352 425,506 59,000 145,000 354,780 2,036,192 456,783 508,741 470,000 303,000 6,824,192 7,669,122 19,900 144,000 76,000 406,000 400,000 66,001 15,000 34,065	$ 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10

~114~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost $ 14,133 62,385 24,216 27,969 36,659 328,364 2,282,061 29,140 12,541 16,228 21,679 19,266 12,508 109,225 17,653 21,610 23,808 37,000 154,684 475,342	Unit price (dollars) $ 93.90 436.50 497.50 31.85 227.00 180.50 1335.00 161.00 265.00 62.20 125.00 245.50 77.50 39.50 151.50 77.30	Total amount $ 12,301 36,230 23,880 19,110 27,467 310,365 2,111,867 28,519 14,685 15,778 23,585 18,455 12,375 102,128 10,463 20,154 20,907 36,331 138,867 442,247	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - - - - - - - - - -	Remark
ASE Technology Holding Co., Ltd. Silergy Corp. Andes Technology Corporation Powerchip Semiconductor Manufacturing Corp. Nan Ya Printed Circuit Board Corporation Others (the balance of each security does not exceed $10,000, collectively presented) Subtotal OTC Stocks RDC Semiconductor Co.,Ltd. eMemory Technology Inc. Eris Technology Corp. Gudeng Precision Industrial Co., LTD Microbio Co.,Ltd. Pharmaengine, Inc. Oneness Biotech Co., Ltd. Vanguard International Semiconductor Co. Etron Technology, Inc. Rafael Microelectronics, Inc. Ibase Technology Inc. Others (the balance of each security does not exceed $10,000, collectively presented) Subtotal		131,000 83,002 48,000 600,000 121,000 5,668,718 158,000 11,000 98,000 89,000 296,697 99,000 416,000 135,000 510,221 138,000 470,000 1,693,677	$ 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10

~115~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost $ 24,283 7,320 16,824 13,446 18,680 13,481 44,113 10,743 71,665 19,819	Unit price (dollars)	Total amount $ 18,892 7,319 17,712 13,325 18,548 13,254 42,202 10,640 70,409 19,109	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - -	Remark
Warrants Others (the balance of each security does not exceed $10,000, collectively presented) Exchange traded fund Others (the balance of each security does not exceed $10,000, collectively presented) Bonds: Convertible corporate bonds CHENG-HSIN ELECTRIC & MACHINERY MFG.CORP. 2ND UNSECURED CONVERTIBLE BOND YNCMOLD ENTERPRISE CORP. 3RD DOMESTIC UNSECURED CONVERTIBLE BOND AEON MOTOR CO.,LTD. 1ST DOMESTIC SECURED CONVERTIBLE BOND CHUNG HWA CHEMICAL INDUSTRIAL WORKS,LTD.1ST DOMESTIC UNSECURED CONVERTIBLE BOND CUB ELECPARTS INC. 3RD UNSECURED CONVERTIBLE BOND TAIWAN MASK CORP. 3RD DOMESTIC CONVERTIBLE BOND ELITE MATERIAL CO., LTD. 5TH DOMESTIC UNSECURED CONVERTIBLE BOND MERRY ELECTRONICS CO.,LTD. DOMESTIC 3RD UNSECURED CONVERTIBLE BONDS		22,463,000 538,004	$ 10 10

~116~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost $ 260,890 11,089 208,113 57,275 91,460 14,134 62,521 10,178 106,172 12,332 48,296 14,281 11,253 18,923	Unit price (dollars)	Total amount $ 262,319 11,490 196,192 56,341 91,115 14,603 61,732 10,623 104,550 11,971 48,616 13,600 11,478 18,621	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - - - -	Remark
EVERGREEN MARINE CORP. (TAIWAN) LTD. DOMESTIC 4TH UNSECURED CONVERTIBLE BOND LION TRAVEL SERVICE CO.,LTD. 2ND UNSECURED CONVERTIBLE BOND TAISHIN FINANCIAL HOLDING CO., LTD. 1ST DOMESTIC UNSECURED EXCHANGEABLE BONDS SHIN KONG FINANCIAL HOLDING CO., LTD. 5TH UNSECURED CONVERTIBLE BOND SINBON ELECTRONICS CO., LTD. 8TH DOMESTIC UNSECURED CONVERTIBLE BOND ZENITRON CORP. 4TH DOMESTIC UNSECURED CONVERTIBLE BOND WEIKENG INDUSTRIAL CO., LTD. 6TH DOMESTIC UNSECURED CONVERTIBLE BOND ALLTEK TECHNOLOGY CORP. 4TH DOMESTIC UNSECURED CONVERTIBLE BOND DONPON PRECISION INC.3RD DOMESTIC SECURED CONVERTIBLE BONDS JOINSOON ELECTRONICS MFG. CO., LTD. 4TH DOMESTIC UNSECURED CONVERTIBLE BOND TOPCO TECHNOLOGIES CORP. 1ST DOMESTIC UNSECURED CONVERTIBLE BOND ALLTOP TECHNOLOGY CORP. 5TH DOMESTIC UNSECURED CONVERTIBLE BOND ACES ELECTRONICS 2ND UNSECURED CONVERTIBLE BOND CYBER POWER SYSTEMS, INC. 1ST DOMESTIC UNSECURED EXCHANGEABLE BONDS

~117~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost $ 48,812 26,793 42,035 9,959 21,821 34,217 80,216 20,379 15,082 43,541 92,675 13,626 38,727	Unit price (dollars)	Total amount $ 54,613 24,502 36,180 10,700 21,255 34,773 78,753 20,750 14,822 42,950 99,426 13,738 37,000	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - - -	Remark
GUDENG PRECISION INDUSTRIAL CO., LTD 3RD UNSECURED CONVERTIBLE BOND MACROWELL OMG DIGITAL ENTERTAINMENT CO., LTD. 1ST DOMESTIC SECURED CONVERTIBLE BOND EPISIL TECHNOLOGIES INC. 4TH SECURED CONVERTIBLE BOND OK BIOTECH CO., LTD. 3RD UNSECURED CONVERTIBLE BOND SAVIOR LIFETEC CORP. 2ND DOMESTIC SECURED CONVERTIBLE BOND SHANYUAN CO., LTD 3RD DOMESTIC SECURED CONVERTIBLE BOND QUANG VIET ENTERPRISE CO., LTD 2ND UNSECURED CONVERTIBLE BOND TBI MOTION TECHNOLOGY CO., LTD FIRST CONVERTIBLE BOND TAIWAN CHELIC CO., LTD. 3RD DOMESTIC SECURED CONVERTIBLE BOND ICHWAVE TECHNOLOGY CORP. 1ST DOMESTIC UNSECURED CONVERTIBLE BOND GLORIA MATERIAL TECHNOLOGY CORP 6TH DOMESTIC UNSECURED CONVERTIBLE BOND. EASTECH HOLDING LIMITED 1ST DOMESTIC SECURED CONVERTIBLE BONDS SERCOMM CORP. 6TH DOMESTIC UNSECURED CONVERTIBLE BONDS

~118~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost $ 26,102 24,819 21,390 25,144 42,419 180,868 178,792 84,183 61,301 11,764 18,902 13,682 17,019 63,278	Unit price (dollars)	Total amount $ 27,324 24,623 20,604 24,514 41,418 172,199 177,536 86,570 74,790 11,730 18,360 13,487 16,830 63,729	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - - - -	Remark
ACTER GROUP CORPORATION LIMITED DOMESTIC 1ST UNSECURED CONVERTIBLE BOND CHAILEASE HOLDING COMPANY LIMITED 1ST UNSECURED CONVERTIBLE BOND GENESYS LOGIC, INC. 1ST DOMESTIC UNSECURED CONVERTIBLE BOND SIGURD MICROELECTRONICS CORP. FOURTH UNSECURED CONVERTIBLE BOND ACBEL POLYTECH INC. 1ST DOMESTIC UNSECURED CONVERTIBLE BOND WISTRON NEWEB CORPORATION 3RD DOMESTIC UNSECURED CONVERTIBLE BOND ENNOCONN CORPORATION DOMESTIC 3RD UNSECURED CONVERTIBLE BONDS GREAT TREE PHARMACY CO., LTD 2ND UNSECURED CONVERTIBLE BOND BORA PHARMACEUTICALS CO., LTD. 2ND DOMESTIC UNSECURED CONVERTIBLE BOND ANJI TECHNOLOGY CO., LTD. 4TH DOMESTIC UNSECURED CONVERTIBLE BOND FU CHUN SHIN MACHINERY MANUFACTURE CO., LTD. 3RD UNSECURED CONVERTIBLE BOND NOVA TECHNOLOGY CORP. 1ST DOMESTIC UNSECURED CONVERTIBLE BOND GROUP UP INDUSTRIAL CO., LTD 1ST DOMESTIC UNSECURED CONVERTIBLE BOND FUSHENG PRECISION CO., LTD. 1ST DOMESTIC

~119~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost $ 16,443 68,292 24,832 137,164 14,371 39,404 450,217 227,479 3,371,436 1,019 43,823 32,086	Unit price (dollars) 9,035.71	Total amount $ 16,664 69,268 23,668 141,302 15,128 39,731 430,557 221,453 3,339,397 1,073 34,336 27,673	Changes in the fair value attributable to changes in credit risk $ - - - - - - - - - - - -	Remark
UNSECURED CONVERTIBLE BOND WENDELL INDUSTRIAL CO., LTD 1ST DOMESTIC UNSECURED CONVERTIBLE BONDS IBASE TECHNOLOGY INC. DOMESTIC 6TH UNSECURED CONVERTIBLE BONDS PHISON ELECTRONICS CORPORATION 1ST UNSECURED CONVERTIBLE BOND CLEANAWAY CO. LTD. 1ST DOMESTIC UNSECURED CONVERTIBLE BOND WW HOLDING INC. 1ST SECURED CONVERTIBLE BOND ADVANCED INTERNATIONAL MULTITECH CO.,LTD 3RD DOMESTIC UNSECURED CONVERTIBLE BOND GIANT MANUFACTURING CO.,LTD. 1ST DOMESTIC UNSECURED CONVERTIBLE BOND Others (the balance of each security does not exceed $10,000, collectively presented) Subtotal American Depositary Receipts Others (the balance of each security does not exceed $10,000, collectively presented) Overseas securities: Japan Stocks Tokyo Electron Ltd. Others (the balance of each security does not exceed $10,000, collectively presented)		131,000 3,800 49,400

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Units, shares or certificates	Par value (dollar)	Total amount	Interest rate (%) (	Cost $ 75,909 42,654 71,746 114,400 6,351,770 287,674 ) $ 6,064,096 $ 18,815,196	Unit price (dollars) 1,822.50 1,343.79	Total amount $ 62,009 27,137 54,155 81,292 $ 6,064,096 $ 18,815,196	Changes in the fair value attributable to changes in credit risk $ - - - - $ - $ -	Remark
Subtotal Korea Stocks SK HYNIX IN SAMSUNG ELE Subtotal Total Valuation adjustment Total Total		14,890 40,300

~121~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME - CURRENT DECEMBER 31, 2022

Name of financial instrument Stocks: TSE Stocks Taiwan Semiconductor Manufacturing Co., Ltd. Total Valuation adjustment Total Overseas bonds: ACGB 2.5 05/21/30 T 2.875 05/15/32 Total Total	Description	Shares or certificates 667,000	Par value $ 10	Total amount	Interest rate (%) 2.50% 2.88%	Cost $ 189,812 189,812 109,338 299,150 1,119,168 1,197,920 2,317,088 $ 2,616,238	(Expressed in thousands of New Taiwan dollars) Fair value Accumulated impairment Unit price (dollars) Total amount $ 448.50 $ 299,150 299,150 1,079,977 1,118,655 2,198,632 $ 2,497,782	(Expressed in thousands of New Taiwan dollars) Fair value Accumulated impairment Unit price (dollars) Total amount $ 448.50 $ 299,150 299,150 1,079,977 1,118,655 2,198,632 $ 2,497,782	(Expressed in thousands of New Taiwan dollars) Fair value Accumulated impairment Unit price (dollars) Total amount $ 448.50 $ 299,150 299,150 1,079,977 1,118,655 2,198,632 $ 2,497,782
								Unit price (dollars) $ 448.50	Total amount
									$ 299,150
									299,150
									1,079,977 1,118,655
									2,198,632
									$ 2,497,782

~122~

PRESIDENT SECURITIES CORPORATION STATEMENT OF DERIVATIVES INSTRUMENTS

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of derivatives instruments Derivatives assets Derivative financial instrument assets - OTC Currency derivative instruments Structured products Subtotal Future Options bought - futures Futures guarantee deposits receivable Total Total derivatives assets Derivative liabilities Derivative financial instrument liabilities - OTC Options sold Currency derivative instruments Structured products Subtotal Call ( put ) warrants Issuance of call ( put ) warrants Future Options sold - futures ETNs Issuance of ETNs Total derivative liabilities	Description President Futures Corp. Capital Securities Corp. Yuanta Futures Co. Ltd. KGI Securities Co. Ltd.	Fair value $ 5,037 - 5,037 8,893 4,954,584 40,211 130,615 60,664 5,194,967 $ 5,200,004 $ 572,420 8,320 10,248 590,988 312,196 2,734 722,298 $ 1,628,216	Remark
			Note 1 Note 1 Note 1 Note 1 Note 1 Note 1 Note 1 Note 2 Note 2 Note 2 Note 2 Note 2 Note 2

Note 1 ： shown as “Financial assets at fair value through profit or loss – current”. Note 2 ： shown as “Financial liabilities at fair value through profit or loss – current”.

~123~

PRESIDENT SECURITIES CORPORATION STATEMENT OF MARGIN LOANS RECEIVABLE

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of securities Taiwan Semiconductor Manufacturing Co., Ltd. MediaTek Inc. Advanced Energy Solution Holding Co., Ltd. Evergreen Marine (Taiwan) Ltd. Yang Ming Marine Transport Corp. Realtek Semiconductor Corp. United Microelectronics Corp. Unimicron Technology Corp. Yuanta Daily Taiwan 50 Bear -1X ETF Parade Technologies, Ltd. Others Less: Allowance for uncollectible accounts Total	Shares 1,822,000 1,014,000 387,000 1,582,000 3,505,000 855,000 4,936,000 1,548,000 35,094,000 232,000 299,141,000 (	Amount $ 516,131 406,020 194,891 174,564 162,298 149,672 136,589 132,571 123,509 118,032 8,447,259 28,315 ) $ 10,533,221	Remark

~124~

PRESIDENT SECURITIES CORPORATION STATEMENT OF ACCOUNTS RECEIVABLE

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of Client Related party: President Futures Corp. Others Non-related party: Settlement price receivable-brokers Others Settlement price Taiwan Stock Exchange Corporation Taiwan Depository & Clearing Corporation Settlement price receivable-dealer Others Spot exchange receivable, foreign currencies Others Settlement price receivable-Foreign Bonds Others Interest receivable Others Others Less: Allowance for uncollectible accounts Total	Description (	Amount $ 3,522 1,195 $ 4,717 $ 8,317,064 420,827 17,908 438,735 87,067 47,624 757,711 315,061 167,152 659 ) $ 10,129,755	Remark

Note: The balance of single client does not exceed 5% of the balance of account is listed as others.

~125~

PRESIDENT SECURITIES CORPORATION STATEMENT OF OTHER CURRENT ASSETS

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Item Pending settlements Pledged time deposits Deposits-in for foreign currency securities Underwriting share proceeds collected on behalf of customers Others Total	Description	Amount $ 113,139 400,000 808,290 249,404 299,595 $ 1,870,428	Remark

~126~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF CHANGES IN FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - NON-CURRENT

FOR THE YEAR ENDED DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument Stocks: Unlisted stocks HUA VI VENTURE CAPITAL CORPORATION Bonds: Government bonds A07101 A11106 Subtotal Total	Beginningbalance	Beginningbalance	Increased	Increased	Decreased Shares or certificates Amount $ - ( 50,124 ) - ( 50,124 ) ( $ 50,124 )	Endingbalance	Endingbalance	Collateral	Remark
	Shares or certificates	Fair value	Shares or certificates	Amount	Shares or certificates ( ( (	Shares or certificates	Fair value
	260,870	$ 12,650 50,124 -		$ 3,954 - 49,779		260,870	$ 16,604 - 49,779	No Yes
		50,124		49,779			49,779
		$ 62,774		$ 53,733			$ 66,383

~127~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF CHANGES IN FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME - NON-CURRENT FOR THE YEAR ENDED DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument Stocks: Unlisted stocks Taiwan Depository & Clearing Corporation Taiwan Futures Exchange Corporation Total	Beginningbalance	Beginningbalance	Increased	Increased	Decreased Shares or certificates Amount - $ - - $ - ($ - )	Endingbalance	Endingbalance	Collateral	Remark
	Shares or certificates	Fair value	Shares or certificates 360,799 117,560	Amount	Shares or certificates - - (	Shares or certificates	Fair value
	1,061,176 839,721	$ 143,333 115,294		$ 35,452 776		1,421,975 957,281	$ 178,785 116,070	No No
		$ 258,627		$ 36,228			$ 294,855

~128~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF CHANGES IN INVESTMENTS ACCOUNTED FOR UNDER THE EQUITY METHOD FOR THE YEAR ENDED DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name	Beginningbalance Shares Amount 63,817,303 $ 2,420,110 30,000,000 312,175 192,600,000 1,288,431 23,400,000 54,073 1,000,000 1,529 14,904,630 760,171 30,000,000 273,064 1,000,000 46,249 - 2,363,197 $ 7,518,999	Increased	Increased	Decreased Endingbalance Shares Amount (Note 2) Shares Sharehol dingratio Amount - ( $ 81,686 ) 63,817,303 96.69% $ 2,547,290 - ( 7,404 ) 30,000,000 100.00% 304,894 - ( 91,736 ) 192,600,000 100.00% 1,334,862 - - 23,400,000 100.00% 60,574 - ( 140 ) 1,000,000 100.00% 1,552 - ( 199,648 ) 14,904,630 42.46% 747,473 - ( 5,563 ) 30,000,000 100.00% 267,501 - ( 22,550 ) 1,000,000 100.00% 57,181 - ( 282,857 ) - 49.00% 2,764,018 ( $ 691,584 ) $ 8,085,345	Market value or net equityvalue	Market value or net equityvalue	Collateral	Remark
	Shares 63,817,303 30,000,000 192,600,000 23,400,000 1,000,000 14,904,630 30,000,000 1,000,000 -	Shares - - - - - - - - -	Amount (Note 1)		Unit price (dollars) $ 39.92 10.16 6.93 2.59 1.55 38.12 8.92 57.18 -	Total amount
President Futures Corp. President Capital Management Corp. President Securities (HK) Ltd. President Wealth Management (HK) Ltd. President Securities (Nominee) Ltd. Uni-President Asset Management Corp. PSC Venture Capital Investment Limited Company President Insurance Agency Corp. Jin Yuan President Securities Co., Ltd. Total			$ 208,866 123 138,167 6,501 163 186,950 - 33,482 683,678			$ 2,547,290 304,894 1,334,862 60,574 1,552 568,101 267,501 57,181 2,764,018	No No No No No No No No No
			$ 1,257,930			$ 7,905,973

Note 1: There are share of the profit accounted for under the equity method, investments in accounted for under the equity method and other comprehensive gain of subsidiaries, associates, and joint ventures accounted for under the equity method.

Note 2: There are share of the loss accounted for under the equity method, dividends received and other comprehensive loss of subsidiaries, associates, and joint ventures accounted for under the equity method.

~129~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF CHANGES IN PROPERTY, PLANT AND EQUIPMENT FOR THE YEAR ENDED DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Item Land Buildings Equipment Leasehold improvements Total	Beginningbalance $ 1,573,570 1,022,169 212,540 17,818 $ 2,826,097	Increased $ - 36,042 207,267 4,741 $ 248,050	Decreased $ - ( 7,330) ( 44,860) - ( $ 52,190)	Endingbalance $ 1,573,570 1,050,881 374,947 22,559 $ 3,021,957	Collateral Note 1 Note 2 No No	Remark

Note 1: The amount of land pledged as security for short-term loans and guarantees for issuance of commercial papers is $959,788. Note 2: The amount of buildings pledged as security for short-term loans and guarantees for issuance of commercial papers is $131,260.

~130~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF CHANGES IN ACCUMULATED DEPRECIATION OF PROPERTY, PLANT AND EQUIPMENT FOR THE YEAR ENDED DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Item Buildings Equipment Leasehold improvements Total	Beginningbalance ( $ 450,583) ( 93,913) ( 10,331) ( $ 554,827)	Increased ( $ 35,509) ( 66,916) ( 3,785) ( $ 106,210)	Decreased $ 7,330 44,860 - $ 52,190	Endingbalance ( $ 478,762) ( 115,969) ( 14,116) ( $ 608,847)	Remark
					Note 1 and 2 Note 1 and 3 Note 1 and 4

Note 1: Property and equipment are depreciated using the straight-line method to allocate their cost over their estimated useful lives. Note 2: The useful lives of buildings are 5 to 50 years. Note 3: The useful lives of equipment are 3 to 10 years. Note 4: The useful lives of leasehold improvements are 5 years.

~131~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF CHANGES IN RIGHT-OF-USE ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2022

	FOR THE YEAR ENDED DECEMBER 31, 2022
Item Buildings Transportation equipment (Business vehicles) Office equipment (Photocopiers) Total	(Expressed in thousands of New Taiwan dollars) Beginning balance Increased Decreased $ 283,897 $ 40,499 ( $ 62,624) 26,405 2,680 ( 1,931) 10,665 869( 261) $ 320,967$ 44,048( $ 64,816)	Ending balance $ 261,772 27,154 11,273 $ 300,199	Remark

~132~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF CHANGES IN ACCUMULATED DEPRECIATION OF RIGHT-OF-USE ASSETS FOR THE YEAR ENDED DECEMBER 31, 2022

	FOR THE YEAR ENDED DECEMBER 31, 2022	FOR THE YEAR ENDED DECEMBER 31, 2022	FOR THE YEAR ENDED DECEMBER 31, 2022
Item	(Expressed in thousands of New Taiwan dollars) Beginning balance Increased Decreased ( $ 115,287) ( $ 63,056) $ 52,490 ( 10,429) ( 5,495) 1,868 ( 3,291) ( 2,165) 261 ( $ 129,007) ( $ 70,716) $ 54,619			Ending balance
Accumulated depreciation - Buildings Accumulated depreciation - Transportation equipment (Business vehicles) Accumulated depreciation - Office equipment (Photocopiers) Total		( $ 63,056) ( 5,495) ( 2,165)	$ 52,490 1,868 261	( $ 125,853) ( 14,056) ( 5,195)
		( $ 70,716)	$ 54,619	( $ 145,104)

~133~

PRESIDENT SECURITIES CORPORATION STATEMENT OF LEASE LIABILITIES

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Item Current lease liabilities Buildings Business vehicles Equipment Subtotal Non-current lease liabilities Buildings Business vehicles Equipment Subtotal Total	Description Office and parking space Business vehicles Office equipment Office and parking space Business vehicles Office equipment	Leaseperiod 104/01-116/03 107/07-116/06 108/08-116/07 104/01-116/03 107/07-116/06 108/08-116/07	Discount rate 0.571%~0.892% 0.571%~0.892% 0.651%~0.892% 0.571%~0.892% 0.571%~0.892% 0.651%~0.892%	Endingbalance $ 58,327 5,094 2,232 65,653 69,909 8,237 4,085 82,231 $ 147,884	Remark

~134~

PRESIDENT SECURITIES CORPORATION STATEMENT OF SHORT-TERM LOANS

DECEMBER 31, 2022

		PRESIDENT SECURITIES CORPORATION STATEMENT OF SHORT-TERM LOANS DECEMBER 31, 2022
Type of loan Unsecured loans	Description	(Expressed in thousands of New Taiwan dollars) Endingbalance Contract term Interest rate $ 275,000 Due within one year 1.70%	Loan Commitment $ 15,641,830	Collateral	Remark

~135~

PRESIDENT SECURITIES CORPORATION STATEMENT OF ACCOUNTS PAYABLE

DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name of client Non-related parties: Settlement accounts payable - brokered trading Others Settlement proceeds Taiwan Stock Exchange Corporation Taiwan Depository & Clearing Corporation Settlement accounts payable - operating Taiwan Stock Exchange Corporation Others Spot exchange payable, foreign currencies Others Settlement accounts payable - foreign bonds Others Others Total	Description	Amount $ 7,622,204 1,247,048 5,737 1,252,785 688,023 246,999 935,022 47,566 703,424 169,644 $ 10,730,645	Remark

Note: The balance of single client does not exceed 5% of the balance of account is listed as others.

~136~

PRESIDENT SECURITIES CORPORATION STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name ofSecurities	Transactionterms	Transactionterms		Amount		Transactionvalue	Remark
	Start Date (Note)	MaturityDate	Interest rate	Type	Parvalue
A07107 A07107 A07107 A07111 A08101 A08101 A10109 B618DA B618D1 B618D1 B618D7 B718A4 B903YD B903YE B903YH B903YP G13111 HB0701 P20QNBF8 P21QNBF2 P21QNBF2 P21QNBF2 P21QNBF2 P21QNBF2 P21QNBF2 P20FAB5 P19APICO1 ACGB 2.5 05/21/30 ACGB 2.5 05/21/30	20221229 20221221 20221222 20221214 20221214 20221222 20221227 20221213 20221228 20221214 20221214 20221206 20221213 20221213 20221214 20221215 20221206 20221221 20221209 20221213 20221229 20221121 20221207 20221214 20221220 20221208 20221216 20221207 20221207	20230111 20230207 20230208 20230116 20230116 20230208 20230109 20230109 20230111 20230113 20230113 20230104 20230110 20230110 20230113 20230112 20230104 20230104 20231109 20230213 20230210 20230105 20230307 20230315 20230314 20230308 20231116 20231107 20231107	0.76% 0.78% 0.78% 0.72% 0.72% 0.78% 0.76% 1.22% 1.05% 1.22% 1.22% 1.15% 1.16% 1.16% 1.22% 1.22% 1.15% 0.76% 1.40% 1.50% 1.40% 1.60% 1.60% 1.60% 1.60% 1.60% 4.55% 3.25% 3.30%	Central Government Bonds Central Government Bonds Central Government Bonds Central Government Bonds Central Government Bonds Central Government Bonds Central Government Bonds Ordinary Corporate Bonds Ordinary Corporate Bonds Ordinary Corporate Bonds Ordinary Corporate Bonds Ordinary Corporate Bonds Ordinary Corporate Bonds Ordinary Corporate Bonds Ordinary Corporate Bonds Ordinary Corporate Bonds Financial Bonds Municipal bonds International Bonds (RMB) International Bonds (RMB) International Bonds (RMB) International Bonds (RMB) International Bonds (RMB) International Bonds (RMB) International Bonds (RMB) International Bonds (RMB) International Bonds (USD) Foreign Bonds (AUD) Foreign Bonds (AUD)	$ 49,600 149,200 1,000 100,000 24,800 224,300 99,200 200,000 6,000 44,000 200,000 100,000 200,000 50,000 100,000 100,000 100,000 200,000 44,080 6,612 4,408 8,816 4,408 4,408 4,408 6,612 153,550 31,245 229,130	$ 55,058 165,748 1,045 111,111 27,318 249,222 110,132 200,000 6,357 44,000 200,000 100,210 200,452 50,113 100,000 100,000 100,408 200,241 41,391 6,683 4,375 8,837 4,411 4,412 4,413 6,625 144,020 29,028 212,795

~137~

PRESIDENT SECURITIES CORPORATION STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name ofSecurities	Transactionterms	Transactionterms		Amount		Transactionvalue	Remark
	Start Date (Note)	MaturityDate	Interest rate	Type	Parvalue
ACGB 2.5 05/21/30 ACGB 2.5 05/21/30 ACGB 1.25 05/21/32 ACGB 2.5 05/21/30 ACGB 2.5 05/21/30 ACGB 2.5 05/21/30 ACGB 2.5 05/21/30 ACGB 2.5 05/21/30 NWG 5.0546 08/12/25 AIRSER 5.4 11/15/28 AIRSER 6 11/15/32 NAB 4.95 11/25/27 ANZ 5.35 11/04/27 NAB FLOAT 11/25/25 ACGB 2.5 05/21/30 ACGB 1.75 11/21/32 NAB FLOAT 11/25/27 NAB FLOAT 11/25/27 AUSPOS4.992112/08/27 ACGB 2.75 11/21/27 ACGB 1.75 11/21/32 ACGB 2.5 05/21/30 SUNAU 4.8 12/14/27 ACGB 1.75 11/21/32 DE 4.9 07/28/25 ACGB 1.75 11/21/32 ANNGR 5 11/23/30 ENBW 4.049 11/22/29 SOCGEN 4.25 12/06/30	20221207 20221207 20221207 20221207 20221207 20221207 20221207 20221207 20221207 20221207 20221207 20221207 20221207 20221207 20221207 20221208 20221208 20221209 20221213 20221213 20221219 20221220 20221221 20221221 20221222 20221230 20221221 20221221 20221221	20231107 20231107 20231107 20231107 20231107 20231107 20231107 20231107 20231107 20231107 20231107 20231107 20231107 20231107 20231107 20231108 20231108 20231109 20231113 20231113 20231120 20231120 20231121 20231121 20231122 20231130 20231121 20231121 20231121	3.30% 3.30% 3.30% 3.25% 3.25% 3.25% 3.25% 3.25% 3.30% 3.20% 3.20% 3.23% 3.50% 3.23% 3.10% 3.10% 3.23% 3.23% 3.35% 3.20% 3.15% 3.25% 3.40% 3.20% 3.30% 3.20% 2.20% 2.10% 2.10%	Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (AUD) Foreign Bonds (EUR) Foreign Bonds (EUR) Foreign Bonds (EUR)	$ 208,300 208,300 10,415 31,245 62,490 62,490 249,960 20,830 10,415 20,830 10,415 20,830 20,830 41,660 20,830 41,660 20,830 20,830 20,830 14,581 10,415 62,490 20,830 24,996 9,790 83,320 16,360 16,360 16,360	$ 193,450 193,450 8,460 29,017 58,035 58,035 232,140 19,345 9,689 20,495 10,534 20,099 20,517 39,743 19,346 35,340 18,891 18,912 18,878 13,603 8,757 57,577 19,693 20,256 9,046 64,273 14,981 15,620 14,783

~138~

PRESIDENT SECURITIES CORPORATION STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name ofSecurities	Transactionterms	Transactionterms		Amount		Transactionvalue	Remark
	Start Date (Note)	MaturityDate	Interest rate	Type	Parvalue
ENBW 4.049 11/22/29 DB 4 11/29/27 TD 3.631 12/13/29 VLVY 4.75 06/15/26 TOYOTA4.625 06/08/26 UKT 4.25 06/07/32 INDKOR5.125 10/25/24 KOMATS5.499 10/06/27 KORELE5.375 04/06/26 KORELE 5.5 04/06/28 INDKOR5.125 10/25/24 T 2.875 05/15/32 BNS 5.25 12/06/24 C 6.27 11/17/33 ASBBNK5.398 11/29/27 WSTP 5.457 11/18/27 KORELE 5.5 04/06/28 BSFR 5.5 11/23/27 SANUK 6.833 11/21/26 BSFR 5.5 11/23/27 BCHINA FLOAT11/25/25 MIZUHO5.669 09/13/33 INDKOR5.125 10/25/24 SANUK 6.833 11/21/26 POLAND 5.5 11/16/27 KSA 5.268 10/25/28 BACR 7.325 11/02/26 BNS 5.25 12/06/24 ASBBNK5.398 11/29/27	20221222 20221222 20221227 20221219 20221222 20230103 20221215 20221215 20221215 20221215 20221215 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216	20231122 20231122 20231127 20231120 20231122 20231204 20231115 20231115 20231115 20231115 20231115 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116	2.20% 2.20% 2.10% 3.75% 3.70% 3.70% 4.53% 4.53% 4.50% 4.53% 4.50% 4.38% 4.55% 4.55% 4.55% 4.55% 4.55% 4.55% 4.55% 4.55% 4.55% 4.55% 4.50% 4.53% 4.53% 4.53% 4.53% 4.53% 4.52%	Foreign Bonds (EUR) Foreign Bonds (EUR) Foreign Bonds (EUR) Foreign Bonds (GBP) Foreign Bonds (GBP) Foreign Bonds (GBP) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD)	$ 16,360 16,360 16,360 18,545 37,090 18,545 30,710 30,710 21,497 21,497 30,710 614,200 30,710 15,355 46,065 30,710 15,355 15,355 46,065 15,355 30,710 15,355 46,065 30,710 15,355 30,710 15,355 30,710 30,710	$ 14,922 14,736 14,934 17,663 33,081 19,080 29,376 30,175 20,812 20,957 29,376 569,651 27,798 14,860 43,120 28,760 14,609 14,045 43,441 14,357 28,285 14,366 42,380 29,590 15,577 30,557 15,331 29,960 29,685

~139~

PRESIDENT SECURITIES CORPORATION STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name ofSecurities	Transactionterms	Transactionterms		Amount		Transactionvalue	Remark
	Start Date (Note)	MaturityDate	Interest rate	Type	Parvalue
ORCL 6.15 11/09/29 HSBC 7.39 11/03/28 KOMRMR4.125 04/20/27 KORELE5.375 04/06/26 BCHINA 4.75 11/23/25 KORELE5.375 04/06/26 NAB 5.132 11/22/24 CAF 5.25 11/21/25 WSTP 5.457 11/18/27 HSBC 7.39 11/03/28 STANLN7.776 11/16/25 HSBC 7.39 11/03/28 BIDU 4.375 05/14/24 NORBK 4.867 09/14/27 HSBC 7.336 11/03/26 AIA 5.625 10/25/27 NORBK 5.071 09/14/32 BAC 6.204 11/10/28 AL 5.85 12/15/27 ANZ 5.088 12/08/25 FABUH 5.125 10/13/27 JPM 5.546 12/15/25 JPM 5.546 12/15/25 NWG 7.472 11/10/26 EIBKOR 4.25 09/15/27 BACR 7.325 11/02/26 WSTP 5.457 11/18/27 STANLN7.776 11/16/25 STANLN7.767 11/16/28	20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221216 20221220 20221220 20221220 20221220 20221220 20221221 20221223 20221223 20221227 20221227 20221227 20221227 20221227 20221227	20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231116 20231120 20231120 20231120 20231120 20231120 20231121 20231123 20231123 20231127 20231127 20231127 20231127 20231127 20231127	4.52% 4.52% 4.52% 4.52% 4.47% 4.47% 4.47% 4.47% 4.47% 4.55% 4.48% 4.55% 4.48% 4.48% 4.55% 4.55% 4.60% 4.60% 4.60% 4.60% 4.60% 4.65% 4.65% 4.70% 4.70% 4.70% 4.70% 4.65% 4.65%	Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD)	$ 15,355 30,710 15,355 30,710 30,710 15,355 52,207 57,581 30,710 30,710 61,420 38,388 30,710 15,355 21,497 30,710 15,355 30,710 30,710 61,420 21,497 92,130 61,420 30,710 15,355 36,852 15,355 46,065 38,388	$ 15,492 31,456 13,903 29,886 29,274 14,943 50,073 55,085 30,359 29,795 60,864 37,244 27,335 14,068 20,469 29,567 14,130 29,055 27,915 55,900 20,173 85,072 56,714 29,813 14,001 35,618 14,618 43,299 37,313

~140~

PRESIDENT SECURITIES CORPORATION STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Name ofSecurities	Transactionterms	Transactionterms		Amount	Parvalue $ 30,710 122,840 15,355 30,710 598,845 19,962 36,852 3,071 3,071 7,678 165,834 9,981 3,378 3,071 3,378 4,914 6,142 19,345 $ 7,247,090	Transactionvalue	Remark
	Start Date (Note)	MaturityDate	Interest rate	Type
KORELE5.375 04/06/26 JPM 5.546 12/15/25 KDB 4.25 09/08/32 NAB 5.132 11/22/24 T 2.875 05/15/32 NAB 5.132 11/22/24 BACR 7.385 11/02/28 CHGRID4.125 05/07/24 CHGRID4.125 05/07/24 CHGRID4.125 05/07/24 CHGRID4.125 05/07/24 CHGRID4.125 05/07/24 CHGRID4.125 05/07/24 CHGRID4.125 05/07/24 CHGRID4.125 05/07/24 CHGRID4.125 05/07/24 CHGRID4.125 05/07/24 CHGRID4.125 05/07/24	20221227 20221227 20230103 20221230 20230103 20221230 20221230 20221107 20221107 20221107 20221213 20221212 20221216 20221219 20221221 20221222 20221223 20221227	20231127 20231127 20231204 20231130 20231204 20231130 20231130 20230106 20230106 20230106 20230113 20230313 20230113 20230117 20230221 20230105 20230117 20230104	4.65% 4.65% 4.55% 4.65% 4.42% 4.65% 4.65% 3.40% 3.40% 3.40% 4.80% 4.15% 4.10% 4.10% 4.33% 4.28% 4.30% 4.20%	Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD) Foreign Bonds (USD)		$ 28,192 110,987 13,591 27,882 554,770 18,132 34,915 3,164 3,152 7,739 156,440 10,011 3,378 3,103 3,400 4,760 6,167 19,353
						$ 6,965,424

Note: It’s settlement date.

~141~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF BROKERAGE HANDLING FEE REVENUE FOR THE YEAR ENDED DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Month 1 2 3 4 5 6 7 8 9 10 11 12 Total	Revenues from brokered trading Brokerage business of securities at the TWSE markets Brokerage business of securities at the OTC markets $ 155,620 $ 51,041 133,988 40,848 214,772 59,666 148,237 46,345 137,244 45,666 147,446 45,497 137,805 41,623 134,923 53,941 116,466 45,438 98,691 31,861 144,660 50,510 136,157 47,476 $ 1,706,009 $ 559,912	Commission revenue from short sales $ 1,434 1,210 1,424 1,593 1,620 1,681 1,476 1,275 1,185 1,033 916 935 $ 15,782	Other commission revenue $ 8,225 4,037 9,478 7,345 11,248 15,318 5,038 11,835 8,839 5,662 6,423 6,915 $ 100,363	Total $ 216,320 180,083 285,340 203,520 195,778 209,942 185,942 201,974 171,928 137,247 202,509 191,483 $ 2,382,066	Remark
	Brokerage business of securities at the TWSE markets $ 155,620 133,988 214,772 148,237 137,244 147,446 137,805 134,923 116,466 98,691 144,660 136,157 $ 1,706,009

~142~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF REVENUES FROM UNDERWRITING BUSINESS FOR THE YEAR ENDED DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Month	Revenues from underwriting securities on a firm commitment basis $ 8,908 40 8,603 12 164 58 7,080 4,638 9,030 5,053 5,570 4,981 $ 54,137	Revenue from underwriting processingfees $ 1,105 661 443 179 500 306 987 918 3,642 130 1,841 2,276 $ 12,988	Revenue from underwriting advisoryfees	Other revenue $ 121 25 200 770 1,375 1,069 1,280 5,465 850 2,380 745 950 $ 15,230	Total $ 10,384 976 9,496 1,211 2,309 1,723 9,637 11,391 13,972 8,043 8,636 8,687 $ 86,465	Remark
1 2 3 4 5 6 7 8 9 10 11 12 Total			$ 250 250 250 250 270 290 290 370 450 480 480 480
			$ 4,110

~143~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF NET GAIN (LOSS) ON SALE OF TRADING SECURITIES FOR THE YEAR ENDED DECEMBER 31, 2022

STATEMENT	PRESIDENT SECURITIES CORPORATION OF NET GAIN (LOSS) ON SALE OF TRADING SECURITIES FOR THE YEAR ENDED DECEMBER 31, 2022
Item Dealers: Trading at TAIEX -Stocks -Others Subtotal Trading at OTC -Stocks -Bonds -Others Subtotal Trading at foreign market Total Underwriters: Trading at TAIEX -Stocks Subtotal Trading at OTC -Stocks -Bonds Subtotal Total Hedging: Trading at TAIEX -Stocks -Others Subtotal Trading at OTC -Stocks -Warrants -Others Subtotal Trading at foreign market Total Total	(Expressed in thousands of New Taiwan dollars) Revenue from sale of trading securities Cost from sale of trading securities Gain (loss) on sale of trading securities $ 70,672,009 ( $ 72,030,289 ) ( $ 1,358,280 ) 35,557,960 ( 35,566,471 ) ( 8,511 ) 106,229,969 ( 107,596,760 ) ( 1,366,791 ) 10,513,194 ( 10,557,143 ) ( 43,949 ) 48,057,619 ( 48,135,004 ) ( 77,385 ) 17,360,162 ( 17,397,245 ) ( 37,083 ) 75,930,975 ( 76,089,392 ) ( 158,417 ) 86,608,057 ( 86,900,760 ) ( 292,703 ) 268,769,001 ( 270,586,912 ) ( 1,817,911 ) 250,979 ( 228,772 ) 22,207 250,979 ( 228,772 ) 22,207 43,343 ( 45,554 ) ( 2,211 ) 380,677 ( 341,633 ) 39,044 424,020 ( 387,187 ) 36,833 674,999 ( 615,959 ) 59,040 65,589,478 ( 66,817,678 ) ( 1,228,200 ) 492,725 ( 472,245 ) 20,480 66,082,203 ( 67,289,923 ) ( 1,207,720 ) 1,228,614 ( 1,205,697 ) 22,917 17,776,014 ( 17,968,823 ) ( 192,809 ) 3,075,190 ( 3,187,783 ) ( 112,593 ) 22,079,818 ( 22,362,303 ) ( 282,485 ) 85,167 ( 86,708 ) ( 1,541 ) 88,247,188 ( 89,738,934 ) ( 1,491,746 ) $ 357,691,188 ($ 360,941,805 ) ($ 3,250,617 )	Remark

~144~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF INTEREST REVENUE

FOR THE YEAR ENDED DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Item Interest income from margin loans Interest income from bonds Others interest income Total	Description	Amount $ 737,137 149,628 53,704 $ 940,469	Remark

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PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL COSTS

FOR THE YEAR ENDED DECEMBER 31, 2022

PRESIDENT SECURITIES CORPORATION STATEMENT OF FINANCIAL COSTS FOR THE YEAR ENDED DECEMBER 31, 2022	PRESIDENT SECURITIES CORPORATION STATEMENT OF FINANCIAL COSTS FOR THE YEAR ENDED DECEMBER 31, 2022
(Expressed in thousands of New Taiwan dollars) Item Description Amount Interest expense from repurchase agreements $ 62,250 Loans interest expense 68,421 Other interest expense 32,847 Total $ 163,518		Remark
	$ 62,250 68,421 32,847
	$ 163,518

~146~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF EMPLOYEE BENEFITS, DEPRECIATION, AMORTIZATION, AND OTHER OPERATING EXPENSES

FOR THE YEAR ENDED DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Item Employee benefits expense Salaries Labor and health insurance Pension Director’ remuneration Other employee benefits Depreciation expenses Amortization expenses Other operating expenses	2022 $ 1,753,326 146,112 75,332 49,575 117,595 179,026 45,082 1,636,888	2021 $ 3,086,536 153,773 78,079 140,571 156,127 150,889 24,676 1,851,991	Remark

Note ：

1. In 2022 and 2021, the Company had 1,463 and 1,447 employees, respectively, in which directors not concurrently serving as employees were both 19.

2. The annual parent company only financial statements shall additionally disclose the information below:

3. (1)Average employee benefits expense of this year is $1,449 ((a total sum of employee benefits expenses in this year - a total sum of remunerations of directors in this year) / (number of employees in this year - number of nonemployee directors in this year)).

4. Average employee benefits expense of the previous year is $2,433 ((a total sum of employee benefits expenses in the previous year - a total sum of remunerations of directors in the previous year) / (number of employees in the previous year - number of non-employee directors in the previous year)).

5. (2) Average salary of this year is $1,214 (a total sum of salaries in this year / (number of employees in this year - number of non-employee directors in this year)).

6. Average salary of the previous year is $2,161 (a total sum of salaries in the previous year / (number of employees in the previous year – number of non-employee directors in the previous year)).

7. (3) Change of average salary is a decrease of 43.82% ((average salary in this year - average salary in the previous year) / average salary in the previous year).

8. For the years ended December 31, 2022 and 2021, director’ remuneration - service payment (under “other operating expense”) were both $1,100.

9. For the years ended December 31, 2022 and 2021, supervisors’ remuneration were both $0. Because of the establishment of Audit Committee, there’s no supervisors’ remuneration.

10. The remuneration policy of the Company (Including directors, supervisors, managers and employees):

11. (1)Directors: Pursuant to Article 19 of the Company’s Articles of Incorporation, the remuneration to director is determined by the board of directors by taking into the degree of participation in the company's operations, contribution and industry standards.

Independent directors receive fixed pay monthly and do not participate in the distribution of company directors’ remuneration.

• (2)Managers and employees ： Pursuant to Article 37 of Work Rules, the Company’s remuneration policy is to fairly compensate employees’ contribution to the company, to offer competitive salary among peers, to meet relevant laws and regulations related to salary and to properly control salary cost.

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PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT

DISCLOSURE OF FUTURES SEGMENT DECEMBER 31, 2022 AND 2021

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PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT BALANCE SHEETS

DECEMBER 31, 2022 AND 2021

(Expressed in thousands of New Taiwan dollars)

Assets	Notes 6(1) 6(2), 7 and 12 8 12 6(3) 6(4)	December31,2022 AMOUNT % $ 1,138,311 20 4,583,867 80 564 - 5,722,742 100 4,146 - 9,643 - 13,360 - 27,149 - $ 5,749,891 100 $ 2,734 - 32 - 36,570 1 39,336 1 3,426,106 59 3,426,106 59 3,465,442 60 1,300,000 23 65,591 1 918,858 16 2,284,449 40 $ 5,749,891 100	December31,2021	December31,2021
		AMOUNT $ 1,138,311 4,583,867 564 5,722,742 4,146 9,643 13,360 27,149 $ 5,749,891 $ 2,734 32 36,570 39,336 3,426,106 3,426,106 3,465,442 1,300,000 65,591 918,858 2,284,449 $ 5,749,891	AMOUNT $ 1,171,305 3,926,184 375 5,097,864 3,355 4,424 13,360 21,139 $ 5,119,003 $ 7,162 44 35,675 42,881 2,825,656 2,825,656 2,868,537 1,300,000 65,591 884,875 2,250,466 $ 5,119,003	%
110000 Current assets 111100 Cash and cash equivalents 112000 Financial assets at fair value through profit or loss - current 114170 Other receivables 110000 Total current assets 120000 Non-current assets 125000 Property and equipment, net 127000 Intangible assets 129000 Other assets - non-current 120000 Total non-current assets 906001 Total Assets Liabilities and Equity				23 77 -
				100
				- - -
				-
				100
				- - 1
210000 Current liabilities 212000 Financial liabilities at fair value through profit or loss - current 214130 Accounts payable 214170 Other payables 210000 Total current liabilities 220000 Non-current liabilities 229110 Inter-department account 220000 Total non-current liabilities 906003 Total Liabilities Operating capital 301110 Operating capital 304000 Retained earnings 304020 Special reserve 304040 Unappropriated earnings 906004 Total Equities 906002 Total liabilities and equity
				1
				55
				55
				56
				26 1 17
				44
				100

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

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PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT STATEMENTS OF COMPREHENSIVE INCOME

YEARS ENDED DECEMBER 31, 2022 AND 2021

(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

Items

Year ended December 31 2022 2021 Notes AMOUNT % AMOUNT % 12 $ 123,132 100 $ 126,888 100 123,132 100 126,888 100 ( 10,948 ) ( 9) ( 14,193) ( 11 ) 7 ( 1,526 ) ( 1) ( 1,717) ( 1 ) ( 65,113 ) ( 53) ( 59,417) ( 47 ) ( 4,964 ) ( 4) ( 3,465) ( 3 ) ( 52,327 ) ( 42) ( 62,835) ( 50 ) ( 134,878 ) ( 109) ( 141,627) ( 112 ) ( 11,746 ) ( 9) ( 14,739) ( 12 ) 45,729 37 18,756 15 33,983 28 4,017 3 $ 33,983 28 $ 4,017 3 $ 33,983 28 $ 4,017 3

400000 Revenues 424400 Net gain from derivatives Total revenues 500000 Expenditures and expenses 502000 Dealer handing fee 524300 Expense of clearing and settlement 531000 Employee benefits expense 532000 Depreciation and amortization 533000 Other operating expenses Total expenditures and expenses Operating loss 602000 Other gains and losses 902001Income before income tax 902005Net income 902006Total current comprehensive income (loss)

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

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PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021

(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

1. HISTORY AND ORGANIZATION

The Segment started to operate future contract dealing business in June 2003.

1. THE DATE OF AUTHORISATION FOR ISSUANCE OF THE FINANCIAL STATEMENTS AND PROCEDURES FOR AUTHORISATION

These parent company only financial statements were authorized for issuance by the Board of Directors on March 8, 2023.

3. APPLICATION OF NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS

• (1) Effect of the adoption of new issuances of or amendments to International Financial Reporting Standards (“IFRS”) that came into effect as endorsed by the Financial Supervisory Commission (“FSC”)

New standards, interpretations and amendments that came into effect as endorsed by FSC and became effective from 2022 are as follows:

New Standards,Interpretations and Amendments Amendments to IFRS 3,‘Reference to the conceptual framework’ AmendmentstoIAS16,‘Property, plant and equipment: proceeds before intended use’ AmendmentstoIAS37,‘Onerouscontracts–cost of fulfilling a contract’ Annual improvements to IFRS Standards 2018–2020	Effective Date by International Accounting Standards Board
	January 1, 2022 January 1, 2022 January 1, 2022 January 1, 2022

The above standards and interpretations have no significant impact to the Segment’s financial condition and financial performance based on the Company’s assessment.

• (2) Effect of new issuances of or amendments to IFRSs as endorsed by the FSC but not yet adopted by the Segment

New standards, interpretations and amendments that came into effect as endorsed by FSC effective from 2023 are as follows:

effective from 2023 are as follows:
New Standards,Interpretations and Amendments	Effective Date by International Accounting Standards Board
Amendments to IAS 1, ‘Disclosure of accounting policies’ Amendments to IAS 8, ‘Definition of accounting estimates’ Amendments to IAS 12, ‘Deferred tax related to assets and liabilities arising from a single transaction’	January 1, 2023 January 1, 2023 January 1, 2023

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The above standards and interpretations have no significant impact to the Segment’s financial condition and financial performance based on the Company’s assessment.

(3) IFRSs issued by IASB but not yet endorsed by the FSC

New standards, interpretations and amendments issued by IASB but not yet included in the IFRSs endorsed by the FSC are as follows:

==> picture [466 x 48] intentionally omitted <==

----- Start of picture text -----

Effective Date by
International Accounting
New Standards, Interpretations and Amendments Standards Board
----- End of picture text -----

New Standards,Interpretations and Amendments	Effective Date by International Accounting Standards Board
Amendments to IFRS 10 and IAS 28, ‘Sale or contribution of assets	To be determined by
between an investor and its associate or joint venture’	International Accounting
	Standards Board
Amendments to IFRS 16, ‘Lease liability in a sale and leaseback’	January 1, 2024
IFRS 17, ‘Insurance contracts’	January 1, 2023
Amendments to IFRS 17,‘Insurance contracts’	January 1, 2023
Amendment to IFRS 17,‘Initial application of IFRS 17 and IFRS 9 – comparative information’	January 1, 2023
Amendments to IAS 1,‘Classification of liabilities as current or non-current’	January 1, 2024
Amendments to IAS 1, ‘Non-current liabilities with covenants’	January 1, 2024

The above standards and interpretations have no significant impact to the Segment’s financial condition and financial performance based on the Company’s assessment.

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The principal accounting policies applied in the preparation of the Company’s financial statements

are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

(1) Compliance statement

The financial statements of the Segment has been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants.

(2) Basis of preparation

• A. Except for the following items, these financial statements have been prepared under the historical cost convention:

• (A) Financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss.

• (B) Defined benefit liabilities recognized based on the net amount of pension fund assets less present value of defined benefit obligations.

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• B. The preparation of financial statements in conformity with International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretation that came into effect as endorsed by the FSC (collectively referred herein as the “IFRSs”) requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 5.

• (3) Classification of current and non-current items

• A. Assets that meet one of the following criteria are classified as current assets; otherwise they are classified as non-current assets:

  • (A) Assets arising from operating activities that are expected to be realized, or are intended to be sold or consumed within the normal operating cycle;

  • (B) Assets held mainly for trading purposes;

  • (C) Assets that are expected to be realized within twelve months from the balance sheet date;

  • (D) Cash and cash equivalents, excluding restricted cash and cash equivalents and those that are to be exchanged or used to pay off liabilities more than twelve months after the balance sheet date.

• B. Liabilities that meet one of the following criteria are classified as current liabilities; otherwise they are classified as non-current liabilities:

  • (A) Liabilities that are expected to be paid off within the normal operating cycle;

  • (B) Liabilities arising mainly from trading activities;

  • (C) Liabilities that are to be paid off within twelve months from the balance sheet date;

  • (D) Liabilities for which the repayment date cannot be extended unconditionally to more than twelve months after the balance sheet date. Terms of a liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do not affect its classification.

(4) Translation of foreign currency transactions

• A. Foreign currency translation and presentation

• Items included in the financial statements of the Segment are measured using the currency of the primary economic environment in which the Segment operates (the “functional currency”). Functional currency and bookkeeping currency of the Company is New Taiwan Dollars.

• B. Foreign currency transactions and balances

• Foreign currency transactions denominated in a foreign currency or required to settle in a foreign currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Assets and liabilities denominated in foreign currency are translated by the closing exchange rate at balance sheet date. The closing exchange rate is determined by the market exchange rate. Non-monetary assets and liabilities denominated in foreign currencies which are carried at historical cost are re-translated at the exchange rates prevailing at the original transaction

~153~

date. Non-monetary assets and liabilities denominated in foreign currencies held at fair value through profit or loss are re-translated at the exchange rates prevailing at the balance sheet date; their translation differences are recognized in profit or loss. Non-monetary assets and liabilities denominated in foreign currencies held at fair value through other comprehensive income are retranslated at the exchange rates prevailing at the balance sheet

(5) Cash and cash equivalents

• A. In the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with banks, and other short-term highly liquid investments.

• B. Cash equivalents refer to short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Time deposits that meet the definition above and are held for the purpose of meeting short-term cash commitments in operations are classified as cash equivalents.

(6) Financial assets at fair value through profit or loss

• A. Financial assets at fair value through profit or loss are financial assets that are not measured at amortized cost or fair value through other comprehensive income.

• B. On a regular way purchase or sale basis, financial assets at fair value through profit or loss are recognized and derecognized using trade date accounting.

• C. At initial recognition, the Segment measures the financial assets at fair value and recognizes the transaction costs in profit or loss. The Segment subsequently measures the financial assets at fair value and recognizes the gain or loss in profit or loss.

• D. The Segment recognizes the dividend income when the right to receive payment is established, future economic benefits associated with the dividend will flow to the Segment and the amount of the dividend can be measured reliably.

• (7) Financial liabilities at fair value through profit or loss

• A. Financial liabilities are classified in this category of held for trading if acquired principally for the purpose of repurchasing in the short-term. Derivatives are also categorized as financial liabilities held for trading unless they are designated as hedges.

• B. At initial recognition, the Segment measures the financial liabilities at fair value. All related transaction costs are recognized in profit or loss. The Segment subsequently measures these financial liabilities at fair value with any gain or loss recognized in profit or loss.

(8) Income tax

• A. Current income tax

• Income tax payable (refundable) is calculated on the basis of the tax laws enacted in the countries where a company operates and generates taxable income. Except for the transactions or other matters directly recognized in other comprehensive income or equity, in which cases the related income taxes in the period are recognized in other comprehensive income or directly derecognized from equity, all the others should be recognized as income or expense for the period.

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• B. Deferred income tax

  • Deferred income tax assets and liabilities are measured based on the tax rate of the anticipated period that the future assets realization or the liabilities settlement requires, which is based on the effective or existing tax rate at the balance sheet date. The carrying amounts and temporary differences of assets and liabilities included in the balance sheet are calculated using the liability method and recognized as deferred income tax. However, the deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit (loss). Deferred income tax assets are recognized only to the extent that it is probable that taxable profit will be available against which the deductible temporary differences can be utilized. If the future taxable income is probable to provide unused loss carryforwards or deferred income tax credit which can be realized in the future, the proportion of realization is deemed as deferred income tax asset.

• C. The current income tax expense is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Segment operates and generates taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in accordance with applicable tax regulations. It establishes provisions for income tax liabilities where appropriate based on the amounts expected to be paid to the tax authorities. An additional tax is levied on the unappropriated retained earnings and is recorded as income tax expense in the year the stockholders resolve to retain the earnings.

• D. Current income tax assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. Deferred income tax assets and liabilities are offset on the balance sheet when the entity has the legally enforceable right to offset current tax assets against current tax liabilities and they are levied by the same taxation authority on either the same entity or different entities that intend to settle on a net basis or realize the asset and settle the liability simultaneously.

• CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND KEY SOURCES OF ASSUMPTION UNCERTAINTY

The preparation of these Segment financial statements requires management to make critical judgements in applying the Segment’s accounting policies and make critical assumptions and estimates concerning future events. Assumptions and estimates may differ from the actual results and are continually evaluated and adjusted based on historical experience and other factors. Such assumptions and estimates have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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6. DETAILS OF SIGNIFICANT ACCOUNTS

(1) Cash and cash equivalents

ETAILS OF SIGNIFICANT ACCOUNTS Cash and cash equivalents
Financial assets at fair value through profit or loss Current deposits Time deposits Investment securities Valuation adjustment Subtotal Futures guarantee deposits receivable Options bought	December 31,2022 December 31, 2021 76,746 $ 45,405 $ 1,061,565 1,125,900 1,138,311 $ 1,171,305 $ December 31,2022 December 31,2021 27 $ 27 $ 27) ( 27) ( - - 4,574,974 3,901,281 8,893 24,903 4,583,867 $ 3,926,184 $	December 31, 2021
		$ $

(2) Financial assets at fair value through profit or loss

Futures guarantee deposits receivable is guarantee deposit for future contract of the Segment.

(3) Inter-department account

It’s money transfer among other segments.

(4) Operating capital

As of December 31, 2022, the operating capital of the Segment is $1,300,000.

7. RELATED PARTY TRANSACTIONS

(1) Names of related parties and relationship

Names of related parties Relationship with the Company President Futures Corp. Subsidiary of the Company PSC

(2) Significant related party transactions

• A. Futures guarantee deposits receivable

nificant related party transactions Futures guarantee deposits receivable
Settlement fund Clearing charges Subsidiary of the Company PSC: President Futures Corp. Subsidiary of the Company PSC: President Futures Corp. Subsidiary of the Company PSC: President Futures Corp.	December 31, 2022		December 31,2021
	4,438,786 $ December 31,2022		3,717,424 $ December 31,2021
	3,000 $ Year ended December 31,2022		3,000 $ Year ended December 31,2021
	1,526 $		1,717 $

• B. Settlement fund

• C. Clearing charges

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8. PLEDGED ASSETS

Assets December 31, 2022 December 31, 2021

Purposes

Pledged time deposits (stated as other non-current asset)

• Operating guarantee deposits $ 10,000 $ 10,000 Security deposits

9. SIGNIFICANT COMMITMENTS

None.

10. SIGNIFICANT LOSS FROM NATURAL DISASTER

None.

11. SIGNIFICANT SUBSEQUENT EVENT

None.

12. DERIVATIVE INSTRUMENT TRANSACTION

(1) Derivative instrument

• A. Nominal principal or contract size and credit risk:

		December31,2022	December31,2022	December31,2022
Item	Trading category	Openpositions		Contract size or paid for (received from) premium	Fairvalue	Note
		Long/ Short	Number of contracts
Futures contract	FICDF FIDLF FIDQF FIHQF FIHSF FIMTX FINYF FIPPF FITE FITF FITX FIUDF FIUNF FIXIF FIQSF FICFF FIDCF FIDLF FIDLF FIDOF FIDXF FIEGF FIFVF FIFYF FIGAF FIGLF FIGNF FIGWF FIGWF FIGXF	Long Long short Long Long short Long Long short short Long Long short short Long Long Long Long short short short Long Long Long Long Long Long Long short Long	22 144 4 2 3 3 138 3 91 50 114 443 518 38 1 1 5 1 1 6 2 8 1 5 6 6 5 3 3 1	20,700 $ 32,181 91 84 172 2,120 153,810 305 233,601 74,610 322,668 297,014 298,277 53,704 141 171 172 223 225 262 116 156 44 363 725 443 242 516 523 349	19,756 $ 32,688 88 80 168 2,120 152,214 290 234,325 74,720 322,278 294,808 285,237 54,066 143 174 172 227 226 262 118 158 41 338 712 441 225 516 516 338	Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade

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		December31,2022	December31,2022	December31,2022
Item	Trading category	Openpositions		Contract size or paid for (received from) premium	Fairvalue	Note
		Long/ Short	Number of contracts
	FIGXF FIGZF FIHBF FIIQF FIIZF FIKFF FIKUF FIKUF FIKWF FILCF FIMBF FIMKF FINDF FINUF FIOAF FIOJF FIOKF FIOKF FIOLF FIOOF FIOQF FIOSF FIOYF FIPBF FIPNF FIPRF FIPWF FIPYF FIQBF FIQGF FIQHF FIQJF FIQKF FIQMF FIQNF FIQSF FIQUF FICCF FICDF FICDF FICEF FICKF FICSF FICYF FICZF FIDAF FIDHF FIDQF FIDVF FIEHF FIFEF FIFNF FIFRF FIHCF FIHSF	short Long Long Long Long Long Long short Long Long Long Long Long Long short short Long short Long short Long short Long Long Long Long Long Long Long Long Long Long Long Long short Long short Long Long short short short Long short short Long short short short short Long Long Long Long Long	1 1 1 2 1 8 3 3 5 4 1 2 5 3 8 4 18 19 25 6 1 4 16 7 13 2 2 5 8 9 8 1 4 10 3 2 1 244 6 42 10 75 68 8 407 146 693 23 4 1 9 4 6 118 733	336 $ 35 161 253 58 481 137 130 388 757 61 317 588 336 2,460 838 2,245 2,370 5,279 871 415 128 766 303 923 288 160 212 767 262 253 34 203 182 95 47 66 20,540 5,386 37,609 1,121 6,036 6,477 807 132,776 19,206 140,010 506 5,154 85 768 492 3,492 12,965 41,482	337 $ 34 157 244 57 479 127 127 374 762 58 320 572 316 2,496 854 2,264 2,379 5,113 877 407 130 744 301 863 272 159 217 717 254 252 33 196 183 95 45 67 19,904 5,382 37,716 1,134 6,045 6,434 818 132,275 19,109 138,499 508 5,000 86 760 494 3,444 13,118 41,038	Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge

~158~

		December31,2022	December31,2022	December31,2022
Item	Trading category	Openpositions		Contract size or paid for (received from) premium	Fairvalue	Note
		Long/ Short	Number of contracts
	FIIOF FIIPF FIIRF FIIXF FIJBF FILEF FILXF FILYF FIMKF FIMTX FINAF FINLF FINLF FINOF FINOF FINVF FINWF FIOLF FIOUF FIOWF FIOYF FIOZF FIPBF FIPCF FIPDF FIPEF FIPLF FIPUF FIPUF FIPWF FIPYF FIQAF FIQEF FIQFF FIQHF FIQJF FIQNF FIQSF FIQWF FIQXF FIQZF FITX FICAF FICBF FICCF FICDF FICEF FICFF FICGF FICHF FICJF FICKF FICKF FICKF FICLF	short Long Long Long Long Long Long Long short short Long Long short Long short Long Long short Long short Long Long short Long Long Long Long Long short Long Long short Long short Long Long short Long Long Long Long short Long Long Long Long Long Long short Long short Long short Long Long	1 75 19 9 10 3 1 61 2 2 3 4 2 1 3 1 1 57 4 2 2 3 10 4 1 23 1 5 13 5 3 1 6 64 25 239 10 42 38 127 6 305 66 820 3,580 1,056 415 27 58 1,591 18 189 113 213 195	635 $ 22,803 4,595 1,917 13,024 2,224 946 28,670 317 1,417 826 655 311 278 838 326 626 12,364 1,113 1,736 111 564 432 1,011 378 3,459 84 317 818 419 129 183 278 2,928 782 8,640 310 1,000 5,300 21,276 398 868,371 9,678 47,485 315,128 1,000,484 47,100 4,752 2,571 47,493 811 15,359 9,072 17,555 11,950	631 $ 21,300 4,541 1,872 12,756 2,004 902 27,572 320 1,414 816 622 311 279 837 323 630 11,657 1,092 1,718 93 563 430 1,002 370 3,404 81 312 813 398 131 170 271 2,874 788 7,983 315 949 5,092 20,314 379 862,235 9,438 48,954 292,128 948,170 47,049 4,693 2,668 47,730 810 15,233 9,108 17,338 11,869	Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade

~159~

		December31,2022	December31,2022	December31,2022
Item	Trading category	Openpositions		Contract size or paid for (received from) premium	Fairvalue	Note
		Long/ Short	Number of contracts
	FICMF FICNF FICNF FICQF FICRF FICSF FICSF FICUF FICWF FICYF FICZF FICZF FIDAF FIDBF FIDCF FIDDF FIDDF FIDEF FIDFF FIDGF FIDHF FIDIF FIDJF FIDKF FIDLF FIDNF FIDOF FIDPF FIDQF FIDSF FIDVF FIDWF FIDXF FIDYF FIEEF FIEGF FIEHF FIEMF FIEPF FIEYF FIEZF FIFBF FIFCF FIFEF FIFFF FIFGF FIFKF FIFNF FIFQF FIFRF FIFTF FIFVF FIFWF FIFYF FIFZF	Long Long short Long Long Long short short Long Long Long short Long Long short Long short Long short short Long Long Long Long short short Long short short short Long short Long Long Long short short short short Long short Long Long Long short Long short short Long Long short short Long Long Long	33 30 38 53 100 588 23 87 33 31 311 24 383 172 12 11 275 38 9 7 561 92 53 11 20 42 132 23 194 7 610 12 7 73 32 33 22 6 2 42 7 40 93 351 6 1 8 61 21 93 10 14 9 15 30	991 $ 1,326 1,680 6,942 6,515 56,060 2,163 1,286 1,785 3,180 101,724 7,923 49,725 6,479 417 192 4,808 1,317 619 978 114,760 6,251 28,254 1,533 4,460 2,053 5,833 1,206 4,673 325 864,039 1,603 417 5,929 1,185 649 1,927 335 3,672 691 751 4,131 4,970 29,255 2,185 782 549 7,750 2,674 53,312 958 610 266 1,082 1,252	1,003 $ 1,326 1,680 7,081 6,400 55,625 2,178 1,262 1,861 3,168 101,075 7,800 50,100 6,492 412 194 4,840 1,272 608 983 112,179 6,201 28,355 1,591 4,540 2,020 5,755 1,224 4,288 329 762,428 1,570 412 5,993 1,206 653 1,899 332 3,696 718 750 4,216 4,984 29,634 2,190 770 542 7,540 2,692 53,382 891 580 267 1,014 1,173	Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade

~160~

		December31,2022	December31,2022	December31,2022
Item	Trading category	Openpositions		Contract size or paid for (received from) premium	Fairvalue	Note
		Long/ Short	Number of contracts
	FIGAF FIGCF FIGHF FIGIF FIGIF FIGJF FIGLF FIGMF FIGNF FIGOF FIGUF FIGWF FIGYF FIGZF FIHAF FIHBF FIHCF FIHHF FIHIF FIHLF FIHOF FIHQF FIHSF FIIAF FIIHF FIIIF FIIJF FIIOF FIIOF FIIPF FIIRF FIITF FIIXF FIIZF FIJBF FIJMF FIJNF FIJPF FIJSF FIJWF FIJZF FIKAF FIKBF FIKCF FIKDF FIKDF FIKEF FIKFF FIKGF FIKGF FIKIF FIKKF FIKLF FIKOF FIKPF	Long Long Long Long short Long short short Long Long Long short short Long Long short Long Long Long Long short Long Long short short short Long Long short Long Long Long Long short short short short short short short short Long short Long Long short Long short Long short Long Long Long Long Long	21 1 81 69 5 285 1 1 32 4 3 12 4 39 142 5 359 127 8 47 11 9 309 50 15 14 2 43 3 152 9 2 21 1 6 5 1 28 5 12 21 2 16 14 2 5 10 2 10 95 51 22 16 2 438	2,508 $ 104 16,610 16,414 1,160 171,005 76 77 1,554 1,473 410 2,011 494 1,338 2,756 821 40,686 2,108 460 3,700 1,927 370 17,432 1,287 671 1,822 8,780 26,363 1,851 49,968 2,229 343 4,443 62 7,618 3,842 61 2,652 632 1,719 1,040 420 2,366 2,304 764 1,909 1,873 122 1,610 16,075 4,244 1,654 1,062 347 38,193	2,491 $ 104 17,172 16,560 1,195 160,740 74 74 1,440 1,448 412 2,064 463 1,334 2,854 785 39,920 2,068 467 3,779 1,947 362 17,293 1,295 641 1,813 8,180 27,133 1,890 43,168 2,151 328 4,368 57 7,656 3,740 59 2,705 634 1,771 983 422 2,314 2,234 766 1,905 1,782 120 1,560 14,877 4,182 1,672 1,102 347 38,018	Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade

~161~

		December31,2022	December31,2022	December31,2022
Item	Trading category	Openpositions		Contract size or paid for (received from) premium	Fairvalue	Note
		Long/ Short	Number of contracts
	FIKSF FIKUF FIKUF FIKWF FILBF FILCF FILEF FILIF FILMF FILOF FILQF FILRF FILTF FILUF FILVF FILWF FILXF FILYF FIMAF FIMBF FIMJF FIMKF FIMQF FIMTX FIMTX FIMX1 FIMX2 FIMVF FINAF FINBF FINCF FINDF FINEF FINGF FINIF FINJF FINJF FINLF FINMF FINOF FINQF FINSF FINUF FINVF FINVF FINWF FINXF FINYF FIODF FIOEF FIOHF FIOLF FIOPF FIOQF FIOQF	Long Long short Long short short Long Long short short Long short short short Long short Long short short Long Long Long Long Long short Long Long short Long Long short Long short short short Long short short short Long short Long short Long short Long Long Long short Long short short Long Long short	5 10 11 22 1 10 89 5 4 29 127 70 11 4 18 13 125 5 1 31 1 1 2 932 1,085 35 5 22 23 3 2 98 3 2 8 20 12 13 2 28 4 8 13 6 29 16 15 239 21 654 4 1 14 10 1	2,417 $ 421 497 1,630 196 1,880 66,223 991 1,347 1,512 6,418 1,780 1,459 911 7,587 12,746 117,064 2,284 333 1,804 363 161 192 658,054 763,592 24,858 3,557 2,517 6,496 1,095 300 11,994 308 450 785 1,488 883 2,061 215 8,273 2,334 942 1,379 1,975 9,593 9,925 1,788 264,942 6,147 14,367 1,167 207 7,021 3,945 396	2,325 $ 424 466 1,643 187 1,904 59,451 982 1,343 1,508 6,655 1,764 1,456 840 7,830 12,831 112,760 2,260 337 1,786 364 160 193 655,837 763,815 24,771 3,539 2,490 6,256 1,092 290 11,211 296 399 755 1,470 884 2,020 228 7,812 2,272 931 1,368 1,932 9,367 10,080 1,773 263,631 5,817 14,584 1,156 205 6,552 4,060 407	Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade

~162~

		December31,2022	December31,2022	December31,2022
Item	Trading category	Openpositions		Contract size or paid for (received from) premium	Fairvalue	Note
		Long/ Short	Number of contracts
	FIORF FIOSF FIOTF FIOUF FIOVF FIOWF FIOYF FIOZF FIPCF FIPCF FIPDF FIPEF FIPGF FIPJF FIPLF FIPMF FIPNF FIPOF FIPPF FIPQF FIPRF FIPTF FIPUF FIPWF FIPXF FIPXF FIPZF FIPZF FIQAF FIQBF FIQCF FIQCF FIQDF FIQHF FIQIF FIQLF FIQNF FIQOF FIQPF FIQRF FIQTF FIQUF FIQVF FIQWF FIQXF FIQYF FIQZF FIRAF FIRBF FITE FITE FITF FITX FITX FIZE	Long short short Long Long short short Long Long short short short short short Long short short Long Long short Long Long short Long Long short Long short short short Long short short Long short Long short short Long Long short short Long short Long short Long short short Long short short Long short Long	5 57 12 157 11 53 4 401 10 18 10 2 32 3 305 7 4 1 8 22 46 4 65 2 1 1 1 1 9 32 52 18 11 1 30 10 6 5 3 1 3 3 52 33 19 11 108 115 9 24 12 8 196 336 8	695 $ 1,767 2,720 44,791 1,235 46,107 207 78,407 2,430 4,402 3,734 297 1,853 1,028 26,652 2,444 282 127 816 2,229 6,538 1,176 4,475 174 850 878 3,420 3,430 1,827 3,118 5,131 1,760 3,057 31 454 1,956 185 315 164 27 288 199 9,083 4,603 3,096 1,467 6,961 25,857 1,398 61,742 30,789 11,965 551,252 948,077 2,578	671 $ 1,858 2,556 42,861 1,131 45,527 186 75,308 2,500 4,518 3,700 296 1,840 1,020 24,827 2,380 266 121 774 2,200 6,256 1,176 4,063 159 872 868 3,400 3,400 1,530 2,867 5,054 1,750 3,003 32 408 1,928 189 313 164 27 288 200 8,879 4,422 3,044 1,503 6,815 25,737 1,379 61,800 30,828 11,955 550,155 945,950 2,572	Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade

~163~

==> picture [494 x 65] intentionally omitted <==

----- Start of picture text -----

December 31,2022
Open positions
Number Contract size or
Trading Long/ of paid for (received
Item category Short contracts from) premium Fair value Note
----- End of picture text -----

	FIF1	short	1	$	2,767	$		2,769	Trade
	JY	short	1		2,962			2,959	Trade
	RTF	Long	1		608			607	Trade
	MNQ	Long	418		294,017			282,977	Trade
	MYM	short	571		294,950			291,828	Trade
	TWN	Long	5		7,588			7,627	Trade
Options contract	TX1 Put	Long	20		17			16	Trade
	OJO Put	Long	2		-		-		Trade
	TGO Call	Long	1		2			2	Trade
	TXO Call	Long	253		2,734			2,479	Trade
	TXO Call	short	135	(	520)	(		477)	Trade
	TXO Put	Long	512		4,503			4,725	Trade
	TXO Put	short	14	(	321)	(		330)	Trade
	TX1 Call	Long	69		192			173	Trade
	TX1 Call	short	200	(	691)	(		643)	Trade
	TX1 Put	Long	31		132			143	Trade
	TX1 Put	short	144	(	776)	(		458)	Trade
	TX2 Call	Long	154		1,065			981	Trade
	TX2 Cal	short	36	(	86)	(		74)	Trade
	TX2 Put	short	1	(	17)	(		15)	Trade
	TX1 Call	Long	17		17			1	Hedge
	TX1 Put	Long	95		203			230	Hedge
	TXO Call	short	157	(	380)	(		208)	Trade
	TXO Put	Long	70		262			144	Trade
	TXO Put	short	94	(	302)	(		194)	Trade
	TX1 Call	short	200	(	489)	(		335)	Trade

		December31,2021	December31,2021	December31,2021
Item	Trading category	Openpositions		Contract size or paid for (received from) premium	Fairvalue	Note
		Long/ Short	Number of contracts
Futures contract	FICBF FICCF FICDF FICEF FICHF FICKF FICSF FICYF FICZF FIDDF FIDIF FIDJF FIDVF FIFEF FIFFF FIF1F FIGOF FIGRF FIGUF FIGXF	Long Long Long Long Long Long Long Long Long Long Long Short Short Long Long Short Short Short Long Short	34 91 2 15 56 11 40 24 1 16 118 3 1 8 1 16 5 2 14 13	2,371 $ 11,788 2,426 2,244 2,572 1,317 2,087 3,621 293 332 9,507 2,190 2,370 742 585 5,881 1,707 174 4,034 4,002	2,397 $ 11,775 2,464 2,292 2,565 1,377 2,116 3,763 285 354 9,983 2,262 2,380 740 614 5,864 1,820 180 4,032 4,082	Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade

~164~

		December31,2021	December31,2021	December31,2021
Item	Trading category	Openpositions		Contract size or paid for (received from) premium	Fairvalue	Note
		Long/ Short	Number of contracts
	FIGZF FIHSF FIIHF FIIYF FIJWF FILXF FIMTX FINBF FINQF FINUF FINXF FINZF FIODF FIOLF FIOTF FIOUF FIOYF FIFBF FIPCF FIPGF FIPIF FIPLF FIPNF FIPOF FIPTF FIPUF FIQAF FIQMF FIQNF FITE FITE FITF FITF FITX FITX FIDIF FIGRF FIQMF FIXIF XIFFI FICBF FICBF FICCF FICDF FICEF FICHF FICKF FICYF FICZF FICZF FIDDF FIDDF FIDHF FIDIF FIDQF	Short Long Long Short Short Long Long Long Short Long Long Short Long Short Long Long Short Long Long Short Long Long Short Short Long Short Long Short Short Long Short Long Short Long Short Long Short Short Long Short Long Short Short Short Short Long Short Short Long Short Long Short Short Long Long	46 29 51 11 14 11 26 5 3 8 15 14 6 16 10 6 28 10 28 34 1 11 11 8 5 17 11 15 39 26 8 10 4 10 10 5 2 5 22 10 3 282 179 125 33 69 29 22 189 117 5 68 721 7 27	2,027 $ 1,605 1,999 2,058 2,032 10,296 23,527 3,448 1,955 2,083 2,013 3,297 2,169 3,245 3,805 2,053 1,797 897 3,527 1,990 3,950 1,882 2,010 1,759 1,977 1,792 3,499 440 1,833 89,889 27,877 16,881 6,783 36,219 36,430 405 174 147 37,379 17,016 212 19,786 22,728 151,072 4,931 3,196 3,480 3,383 53,931 33,538 110 1,503 151,734 586 1,060	2,010 $ 1,621 2,091 2,125 2,030 10,549 23,634 3,545 1,974 2,048 2,058 3,196 2,262 3,952 3,930 2,100 2,002 891 4,099 2,006 4,300 1,881 1,997 1,856 2,020 2,023 3,949 461 2,001 91,078 27,978 17,136 6,847 36,358 36,418 423 180 154 37,686 17,079 211 19,881 23,163 154,000 5,042 3,151 3,631 3,450 53,676 33,345 111 1,503 149,968 592 1,056	Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge

~165~

		December31,2021	December31,2021	December31,2021
Item	Trading category	Openpositions		Contract size or paid for (received from) premium	Fairvalue	Note
		Long/ Short	Number of contracts
	FIDQF FIDSF FIDVF FIDWF FIEZF FIFEF FIFNF FIFRF FIFTF FIFTF FIFY1 FIFZF FIFZF FIGHF FIGHF FIGIF FIGMF FIGNF FIGRF FIGUF FIGWF FIHBF FIHCF FIHCF FIHSF FIHSF FIIIF FIIMF FIIOF FIIRF FIITF FIIXF FIIXF FIJBF FIJFF FIJMF FIKBF FIKDF FIKFF FIKGF FIKUF FIKWF FILEF FILIF FILRF FILUF FILXF FIMTX FINAF FINDF FINEF FINGF FINJF FINLF FINLF	Short Long Short Short Short Short Short Short Long Short Long Long Short Long Short Short Short Long Short Short Short Short Long Short Long Short Long Long Long Short Short Long Short Short Long Short Short Long Short Short Short Long Short Short Long Short Short Long Short Long Short Long Short Long Short	207 78 27 5 10 28 14 6 5 8 9 29 97 1 14 19 15 1 36 40 1 8 13 23 301 256 2 13 4 68 53 1 3 7 1 1 1 4 43 1 41 9 1 6 14 13 3 2 4 9 5 1 2 3 7	8,006 $ 4,694 60,710 1,060 1,390 2,604 1,152 3,304 441 700 1,277 1,877 6,250 310 4,357 6,192 1,530 78 3,152 11,246 339 2,693 1,817 3,874 16,330 14,196 662 2,410 4,218 31,099 11,483 478 1,428 8,514 1,406 804 293 2,306 3,258 151 2,112 718 1,056 1,247 492 2,629 2,882 1,796 2,993 1,636 544 406 87 937 2,229	8,114 $ 4,766 64,260 972 1,404 2,590 1,170 3,305 436 698 1,282 1,978 6,625 310 4,354 6,099 1,587 78 3,233 11,520 340 2,671 2,202 3,912 16,706 14,310 659 2,444 4,304 31,416 11,236 465 1,401 8,246 1,522 816 285 2,380 3,161 157 2,202 707 1,056 1,260 491 2,625 2,877 1,821 3,004 1,661 555 420 88 942 2,198	Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge

~166~

		December31,2021	December31,2021	December31,2021
Item	Trading category	Openpositions		Contract size or paid for (received from) premium	Fairvalue	Note
		Long/ Short	Number of contracts
	FINMF FINOF FINUF FINVF FINVF FINWF FIODF FIOEF FIOHF FIOLF FIOQF FIOSF FIOVF FIOZF FIPAF FIPBF FIPDF FIPEF FIPJF FIPLF FIPMF FIPNF FIPQF FIPRF FIPTF FIPUF FIPYF FIQBF FIQDF FIQEF FIQFF FIQHF FIQIF FIQJF FIQLF FIQSF FITX FICAF FICBF FICCF FICDF FICEF FICFF FICGF FICHF FICJF FICKF FICLF FICNF FICQF FICRF FICSF FICUF FICWF FICYF	Short Short Long Long Short Short Short Long Short Short Long Short Short Short Short Short Short Short Short Long Short Long Short Short Short Short Short Long Short Short Long Long Short Short Short Short Short Long Short Long Long Long Long Short Long Short Long Short Short Long Short Long Short Short Long	14 58 3 3 7 8 3 3 1 42 1 4 4 36 2 8 1 18 2 2 1 8 16 3 16 22 5 3 14 4 12 25 16 4 3 4 85 80 82 3,183 577 9 78 12 2,766 25 111 14 26 10 1 35 1 24 111	2,434 $ 25,907 764 865 2,074 7,826 1,134 110 282 10,278 475 188 809 7,599 601 686 348 2,898 1,112 342 409 1,467 2,458 824 6,413 2,576 395 460 8,344 191 739 1,300 598 210 834 228 306,887 13,427 5,779 405,617 696,577 1,368 16,028 568 124,069 1,035 13,636 986 1,328 1,374 57 1,820 20 1,448 17,388	2,602 $ 27,378 768 903 2,114 8,208 1,131 109 281 10,374 473 195 820 7,685 610 713 365 2,833 1,114 342 418 1,452 2,470 849 6,464 2,618 397 460 8,134 192 739 1,345 600 211 861 229 309,421 13,680 5,781 411,868 710,864 1,375 16,302 582 126,683 1,060 13,887 995 1,349 1,374 58 1,852 23 1,466 17,405	Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Hedge Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade

~167~

		December31,2021	December31,2021	December31,2021
Item	Trading category	Openpositions		Contract size or paid for (received from) premium	Fairvalue	Note
		Long/ Short	Number of contracts
	FICYF FICZF FIDDF FIDEF FIDFF FIDGF FIDHF FIDIF FIDJF FIDKF FIDLF FIDNF FIDOF FIDPF FIDQF FIDSF FIDVF FIDWF FIDXF FIDYF FIDZF FIEEF FIEGF FIEHF FIEMF FIEYF FIEZF FIFBF FIFBF FIFEF FIFFF FIFGF FIFKF FIFNF FIFQF FIFRF FIFTF FIFVF FIFWF FIFY1 FIFZF FIGAF FIGCF FIGHF FIGIF FIGJF FIGMF FIGNF FIGOF FIGRF FIGTF FIGUF FIGWF FIGXF FIGZF	Short Long Short Short Short Short Long Long Short Long Short Short Short Short Long Long Long Short Short Short Short Long Short Short Long Short Short Long Long Long Short Short Short Short Short Long Short Long Short Short Long Long Short Short Short Long Short Long Short Short Short Short Long Short Short	1 205 55 10 14 1 304 125 4 12 8 35 14 21 1,336 147 170 11 45 16 7 10 1 9 35 1 5 1 1 450 2 7 55 12 11 17 8 18 36 21 92 30 29 12 4 29 21 4 4 6 11 5 31 19 70	157 $ 53,456 1,175 315 1,320 161 63,244 10,316 2,951 2,219 1,826 1,953 699 1,004 50,058 8,551 381,856 2,078 2,615 1,382 739 564 26 594 2,177 20 705 135 91 42,592 1,193 6,845 3,928 990 1,365 9,338 705 804 1,333 2,645 5,637 3,928 3,737 3,781 1,328 31,955 2,131 309 1,371 527 10,110 1,417 9,840 5,884 3,090	157 $ 58,334 1,216 323 1,341 162 63,232 10,571 3,016 2,280 1,856 1,967 711 1,029 52,371 8,982 404,600 2,138 2,628 1,414 749 575 26 594 2,226 20 702 134 90 41,610 1,228 7,224 3,960 1,003 1,406 9,357 698 812 1,364 2,999 6,284 3,966 3,758 3,732 1,284 33,814 2,222 311 1,456 539 10,419 1,440 10,540 5,966 3,059	Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade

~168~

		December31,2021	December31,2021	December31,2021
Item	Trading category	Openpositions		Contract size or paid for (received from) premium	Fairvalue	Note
		Long/ Short	Number of contracts
	FIG2F FIHAF FIHBF FIHCF FIHHF FIHLF FIHOF FIHSF FIIAF FIIHF FIIIF FIIJF FIIMF FIIOF FIIPF FIIPF FIIQF FIIRF FIITF FIIXF FIIYF FIIZF FIJBF FIJFF FIJMF FIJNF FIJPF FIJWF FIJZF FIKAF FIKBF FIKCF FIKDF FIKEF FIKFF FIKGF FIKIF FIKKF FIKLF FIKOF FIKPF FIKSF FIKUF FIKWF FILBF FILCF FILEF FILIF FILMF FILOF FILQF FILRF FILTF FILUF FILVF	Short Short Short Long Short Long Long Long Short Short Long Long Short Long Long Short Long Long Short Long Short Short Short Long Short Short Short Short Short Short Short Short Long Short Short Short Short Short Short Long Short Long Short Long Short Short Long Long Short Short Long Short Short Short Short	4 33 5 147 1 4 2 105 26 9 44 2 7 93 36 2 4 25 21 14 2 71 15 27 8 11 6 14 28 8 20 6 17 18 33 36 7 8 20 13 39 1 14 126 3 4 121 1 7 18 189 26 13 4 1	1,963 $ 1,135 1,690 25,175 18 370 370 5,657 505 361 14,719 9,830 1,326 98,256 17,238 974 523 11,909 4,605 6,677 377 4,714 18,095 39,003 6,474 911 614 1,991 1,397 1,528 5,509 1,166 10,120 4,395 2,349 5,523 653 799 1,325 1,781 4,822 487 734 9,777 740 790 131,462 203 4,395 896 9,621 886 1,670 812 534	2,050 $ 1,162 1,670 25,012 18 370 366 5,842 517 369 14,520 9,880 1,316 100,032 17,136 950 590 11,550 4,452 6,538 386 4,757 17,670 41,124 6,528 947 635 2,030 1,481 1,608 5,700 1,171 10,149 4,466 2,426 5,638 666 816 1,328 1,856 4,961 494 752 9,904 741 800 127,776 210 4,578 916 9,454 913 1,677 808 530	Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade

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		December31,2021	December31,2021	December31,2021
Item	Trading category	Openpositions		Contract size or paid for (received from) premium	Fairvalue	Note
		Long/ Short	Number of contracts
	FILWF FILXF FILYF FIMBF FIMJF FIMKF FIMPF FIMQF FIMTX FIMVF FINAF FINBF FINCF FINDF FINEF FINGF FINIF FINJF FINLF FINMF FINOF FINQF FINSF FINUF FINVF FINWF FINYF FIOAF FIODF FIOEF FIOLF FIOPF FIOQF FIORF FIOSF FIOTF FIOUF FIOVF FIOWF FIOYF FIOZF FIPAF FIPCF FIPDF FIPEF FIPFF FIPGF FIPJF FIPKF FIPLF FIPMF FIPNF FIPOF FIPPF FIPQF	Short Long Short Short Short Short Short Long Short Short Short Short Short Long Short Long Short Short Short Short Short Long Short Long Long Short Short Short Long Long Short Short Short Short Long Short Short Short Long Short Long Long Long Short Short Short Short Short Short Long Short Short Short Short Short	6 124 4 5 4 2 7 7 3 7 3 7 9 99 6 2 6 14 3 5 5 3 9 3 1 24 38 1 1 215 39 12 2 6 1 3 7 14 16 1 74 9 1 6 13 4 19 1 8 81 6 11 10 2 2	7,427 $ 112,261 4,570 357 1,565 376 1,173 805 2,730 1,153 2,234 4,807 1,824 18,294 655 819 734 610 944 922 2,334 1,981 1,181 745 300 24,130 53,953 381 378 7,062 9,572 6,669 927 1,092 49 1,195 2,472 2,867 28,388 66 15,082 2,672 127 2,131 2,128 1,338 1,120 563 966 13,809 2,466 1,951 2,283 304 304	7,608 $ 118,916 4,576 372 1,600 378 1,180 822 2,731 1,159 2,253 4,963 1,863 18,251 666 840 730 615 942 930 2,360 1,974 1,197 768 302 24,624 55,252 369 377 7,781 9,633 6,240 946 1,094 49 1,179 2,450 2,870 28,512 72 15,806 2,745 146 2,190 2,046 1,340 1,121 557 973 13,851 2,508 1,997 2,320 330 309	Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade

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		December31,2021	December31,2021	December31,2021
Item	Trading category	Openpositions		Contract size or paid for (received from) premium	Fairvalue	Note
		Long/ Short	Number of contracts
Options contract	FIPRF FIPSF FIPTF FIPUF FIPXF FIQBF FIQCF FIQDF FIQFF FIQIF FIQKF FIQLF FIQMF FIQOF FIQPF FIQTF FIQUF FITE FITF FITX FITX FIZEF FIOJF FIF1F FIFVN FIHHI FIMHI FITWN FIFVN TXO call TXO call TXO put TXO put OCO put TEO call TXO call TXO call TXO put TXO put TX1 call TX1 put TX1 put TXO call TXO put TXO put TX1 put CCO call CCO put CDO call CDO put CDO call CDO call CDO put CEO call CEO put	Long Long Short Long Short Short Short Short Short Long Short Short Short Short Short Long Long Short Long Long Short Short Long Long Long Long Long Short Short Long Short Long Short Long Short Long Short Long Short Short Long Short Short Long Short Long Short Long Short Long Long Short Long Long Long	1 32 18 168 4 8 1 35 1,076 7 12 9 40 6 4 9 13 6 15 37 10 3 1 2 1 1 1 15 2 4 16 49 4 7 40 1,067 43 1,604 38 537 274 571 143 121 63 506 65 49 17 63 1 26 8 6 25	280 $ 2,187 7,132 17,984 6,513 1,246 123 20,703 64,541 262 835 2,549 1,191 482 271 1,356 1,216 21,014 25,400 134,789 35,663 1,261 433 5,508 390 1,437 817 26,634 373 53 98) ( 692 40) ( 1 539) ( 12,720 396) ( 5,149 186) ( 2,387) ( 959 926) ( 498) ( 453 201) ( 280 98) ( 79 126) ( 1,097 26 111) ( 54 24 66	283 $ 2,253 7,272 19,992 6,352 1,227 121 20,335 66,282 263 850 2,583 1,228 488 283 1,395 1,266 21,018 25,704 134,747 36,358 1,314 435 5,464 393 1,467 832 26,631 374 56 102) ( 468 35) ( 1 441) ( 19,946 575) ( 2,258 140) ( 1,815) ( 895 662) ( 1,153) ( 34 27) ( 268 95) ( 13 107) ( 139 44 237) ( 8 39 13	Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Trade Hedge Hedge Hedge Hedge Trade Trade Trade Trade Trade Trade Trade Trade Trade

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Item	Trading category Long/ Short Number of contracts CKO call Long 5 18 $ CKO call Short 10 2) ( CKO put Long 5 12 NYO put Short 5 71) ( TEO put Short 42 569) ( TFO call Long 11 49 TXO call Short 340 1,396) ( TXO put Long 131 1,372 TXO put Short 13 52) ( TX1 call Short 30 98) ( TX1 put Short 30 219) ( December31,2021 Openpositions Contract size or paid for (received from) premium	Fairvalue Note 27 $ Trade 3) ( Trade 2 Trade 1) ( Trade 16) ( Trade 83 Trade 1,461) ( Trade 608 Trade 3) ( Trade 93) ( Trade 197) ( Trade

Note: Futures contracts are contract value when trading future contracts; Options contracts are premium received or paid when buying or selling options. Losses are borne by the future merchants of trading counterparties when transaction of stock index futures default, so the credit risk of the Segment is low.

(Blank below)

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B. Market price risk

• (A) The Company deals in index options, stock options stock index futures, treasury bond future and commercial paper rate futures. Market risk is influenced by the changes of the products mentioned above. Each contract has its fair value. The Segment has set up stop-loss point during operations and the losses should be within the expected range, so there is no significant market price risk.

• (B) The foreign exchange exposure of the Futures Segment was as follow:

December 31, 2022 USD EUR HKD JPY RMB Others Total

Financial assets in foreign currencies

Futures guarantee deposits receivable $ 45,558 ($ 680) $ 22,037 ($ 2,607) $ 13,312 $ 28,297 $ 105,917 Note: As of Decemberer 31, 2022, foreign exchange rates of the above currencies to TWD were 1 USD = 30.710 TWD; 1 EUR= 32.720 TWD; 1 HKD= 3.938 TWD; 1 JPY= 0.232 TWD; and 1 RMB= 4.408 TWD, respectively.

December 31, 2021 USD EUR HKD JPY RMB Others Total

Financial assets in foreign currencies

Futures guarantee deposits receivable $ 136,791 $ 453 $ 12,289 $ 1,903 $ 11,059 $ 8,401 $ 170,896 Note: As of Decemberer 31, 2021, foreign exchange rates of the above currencies to TWD were 1 USD = 27.680 TWD; 1 EUR= 31.320 TWD; 1 HKD= 3.549 TWD; 1 JPY= 0.241TWD; and 1 RMB= 4.344 TWD, respectively.

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• C. The amount, period and uncertainty of liquidity risk, cash flow risk and future cash demand: As of December 31, 2012, the option and futures open positions held by the Segment can be closed at a reasonable price in the market, so the risk of liquidity is low. The guarantee deposit margin transaction.

• The guarantee deposits have been paid before the future margin trading. It is evaluated daily based on the open positions of futures contract established by the company. If the margin calls are required, the company's operating capital is sufficient. Therefore, there is no financing risk, and the cash flow risk is low.

• The premium has been paid (received) before the option trading. If the counterparties exercise the call option, the company's operating capital is sufficient. Therefore, there is no financing risk and cash flow risk.

• D. Types of derivatives, purpose and strategy for achieving the purpose: The Company is concurrent operation of futures business. The futures and options for the purpose of trading, the Company mainly operates spread trading and combined strategy transactions. It uses the correlation between futures, options and spot prices to operates simultaneously, and establish a hedge position when the market changes greatly to increase the profit stability of the overall position. The futures and options for the purpose of hedging, the hedging strategy of the Segment is to achieve the purpose of avoiding most of the market price risk. They are highly negatively related to the fair value of the hedged items and the hedging instrument are regularly evaluated.

• E. Derivatives in financial statements:

• (A) Margin deposits for the futures contract

ging instrument are regularly evaluated. ivatives in financial statements: Margin deposits for the futures contract
Futures guarantee deposits receivable Excess margin		December 31,2022		December 31,2021
		4,574,974 $ 3,622,064 $		3,901,281 $ 3,265,990 $

• (B) Net gain (loss) from derivatives-future

Net gain (loss) from derivatives-future
Futures contract gain Option trading gain Futures contract loss Option trading loss Total	Year ended December 31,2022	Year ended December 31,2021
	806,635 $ 341,741 775,049) ( 250,195) ( 123,132 $	1,286,051 $ 477,154 1,062,451) ( 573,866) ( 126,888 $

(2) Fair values and hierarchy information

• A. Financial instruments measured at fair value

Except for those listed in the table below, the carrying amounts of the Segment’s financial instruments not measured at fair value (including cash and cash equivalents, accounts receivable, other receivable, operation guaranteed deposits, accounts payables and other

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payables) approximate their fair values. The fair value information of financial instruments measured at fair value is provided in Note 12(2)2.

• B. Fair value hierarchy of the financial instruments

• (A) Definitions for the hierarchy classifications of financial instruments measured at fair value

  • a. Level 1

Level 1, are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Segment can access at the measurement date. An active market has to satisfy all the following conditions: a market in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis.

• b. Level 2

Inputs other than quoted market prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. For the years ended December 31, 2022 and 2021, there was no significant transfer of financial instruments between Level 1 and Level

2. c. Level 3

Unobservable inputs for the assets or liability. The Segment has no unlisted stocks.

• (B) Hierarchy of fair value estimation of financial instruments

Financial instruments measured at fairvalue		December 31,2022	December 31,2022
Recurringfairvalue	Total	Level 1	Level 2	Level 3
	$ 4,583,867 2,734	$ 4,583,867 $ - 2,734 - December 31,2021		$ - -
Derivativeinstruments
Assets Financial assets at fair value through profit or loss - current Liabilities Financial liabilities at fair value through profit or loss - current Financial instruments measured at fairvalue
Recurringfairvalue	Total	Level 1	Level 2	Level3
	$ 3,926,184 7,162	$ 3,926,184 7,162	$ - -	$ - -
Derivativeinstruments
Assets Financial assets at fair value through profit or loss - current Liabilities Financial liabilities at fair value through profit or loss - current

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13. STATUS OF IN THE LIMITATIONS ON FINANCIAL RATIOS IMPOSED BY FUTURES TRADING ACT, AND THE RELATED IMPLEMENTATION

Article	Calculation formula		December 31, 2022	December 31, 2022		December 31, 2021	December 31, 2021	Standard	Enforcement
			Calculation	Ratio		Calculation	Ratio
17	Stockholders’ equity		2,284,449 39,336	58.08		2,250,466 42,881	52.48	≧1	Met the requirement
	(Total liability－futures trader’s equity)
17	Current assets		5,722,742 39,336	145.49		5,097,865 42,881	118.88	≧1	Met the requirement
	Current liabilities
22	Stockholders’ equity		2,284,449 400,000	571.11%		2,250,466 400,000	562.62%	≧60% ≧40%	Met the requirement
	Minimum paid-in capital
22	Adjusted net capital		1,739,987 952,910	182.60%		1,860,017 635,292	292.78%	≧20% ≧15%	Met the requirement
	Total amount of customer margins required for the openpositions of futures traders

14. PROSPECTIVE RISK FOR FUTURES TRADING

The main risk faced by the Group while engaging in self-operating businesses is market price risk- that is risk of changes in market prices of futures or options contracts as a result of fluctuation in underlying investment index. Losses may occur if the market index price and underlying investment move adversely. However, the Company has set up stop-loss point to control such risk for reasons of risk management. 15. OTHER

None

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16. OTHER DISCLOSURE ITEMS

1) Information about significant transactions

• A. Lending to others: None.

• B. Endorsements and guarantees for others None.

• C. Acquisitions of real estate exceeding $300 million or 20 percent of contributed capital None.

• D. Disposals of real estate exceeding $300 million or 20 percent of contributed capital None.

• E. Purchases or sales transactions discount on brokers’ charges with related parties in excess of $5 million None.

• F. Receivables from related parties exceeding $100 million or 20 percent of contributed capital None.

• G. Significant transactions between parent company and subsidiaries are provided in Note 7.

• 2) Related information of investee companies

• None.

3) Disclosure of investment in Mainland China

• None.

(Blank below)

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PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT

STATEMENT OF CASH AND CASH EQUIVALENTS

DECEMBER 31, 2022

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Item	Description USD 499 thousands, exchange rate: 30.710 HKD 9,134 thousands, exchange rate: 3.938 Maturity Date: January 1, 2023 to March 20, 2023 interest rates:0.335%~1.04% USD 1,500 thousands, exchange rate: 30.710 Maturity Date: March 5, 2023 interest rates:5.15%	Amount $ 25,441 51,305 1,015,500 46,065 $ 1,138,311	Remark
Current deposits Deposits denominated in NTD Deposits denominated in foreign currencies Time deposits Deposits denominated in NTD Deposits denominated in foreign currencies Total

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PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT DECEMBER 31, 2022

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Name of financial instrument	Descript ion	shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost	Fair value	Fair value	Changes in the fair value attributable to changes in credit risk	Remark
							Unit price (dollars)	Total amount
						＄ 27		＄ -	＄ -	Trade Trade Trade Trade Trade Trade Trade Trade Hedge Hedge Trade
						4,574,974		4,574,974	-
						17 - 2 2,734 4,503 192 132 1,065 17 203 262		16 - 2 2,479 4,725 173 143 981 1 230 143	- - - - - - - - - - -
						9,127		8,893	-
						＄ 4,584,128		＄ 4,583,867	＄ -

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PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT STATEMENT OF FUTURES GUARANTEE DEPOSITS RECEIVABLE

DECEMBER 31, 2022

	STATEMENT OF FUTURES GUARANTEE DEPOSITS RECEIVABLE DECEMBER 31, 2022	STATEMENT OF FUTURES GUARANTEE DEPOSITS RECEIVABLE DECEMBER 31, 2022	STATEMENT OF FUTURES GUARANTEE DEPOSITS RECEIVABLE DECEMBER 31, 2022	STATEMENT OF FUTURES GUARANTEE DEPOSITS RECEIVABLE DECEMBER 31, 2022
Clearing house (Other futures commission merchants) President Futures Corp. Capital Futures Corp. Yuanta Futures Co., Ltd.	(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS) Description Currency Foreign amount Exchange rate (dollars) Futures guarantee deposits receivable TWD USD ＄ 258 30.710 JPY ( 11,235 ) 0.232 HKD 2,976 3.938 GBP 13 37.090 EUR ( 21 ) 32.720 RMB 2,971 4.408 Futures guarantee deposits receivable TWD Futures guarantee deposits receivable TWD VND 15,293,719 0.001 USD 1,225 30.710 THB 9,081 0.894 HKD 2,620 3.938 RMB 47 4.408				New Taiwan dollar	Remark
	Futures guarantee deposits receivable Futures guarantee deposits receivable Futures guarantee deposits receivable	TWD USD JPY HKD GBP EUR RMB TWD TWD VND USD THB HKD RMB	＄ 258 ( 11,235 ) 2,976 13 ( 21 ) 2,971 15,293,719 1,225 9,081 2,620 47	30.710 0.232 3.938 37.090 32.720 4.408 0.001 30.710 0.894 3.938 4.408	＄ 4,408,828 7,940 ( 2,607 ) 11,721 480 ( 680 ) 13,104
					4,438,786
					40,211
					20,018 19,698 37,618 8,119 10,316 208
					95,977
					＄ 4,574,974

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PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT STATEMENT OF OTHER RECEIVABLES

DECEMBER 31, 2022

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Name of Client Interest receivable Other receivable Total	Description Time deposit interest Monetary incentives	Amount $ 547 17 $ 564	Remark

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PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT STATEMENT OF CHANGES IN PROPERTY, PLANT AND EQUIPMENT FOR THE YEAR ENDED DECEMBER 31, 2022

Item	Beginning balance	Increased	Decreased	(Expressed in thousands of New Taiwan dollars) Endingbalance Collateral Remark $ 8,731 No	(Expressed in thousands of New Taiwan dollars) Endingbalance Collateral Remark $ 8,731 No	(Expressed in thousands of New Taiwan dollars) Endingbalance Collateral Remark $ 8,731 No
Computer equipment	$ 7,215	$ 2,995	( $ 1,479)	$ 8,731	No

~182~

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT STATEMENT OF CHANGES IN ACCUMULATED DEPRECIATION OF PROPERTY, PLANT AND EQUIPMENT FOR THE YEAR ENDED DECEMBER 31, 2022

	FOR THE YEAR ENDED DECEMBER 31, 2022	FOR THE YEAR ENDED DECEMBER 31, 2022	FOR THE YEAR ENDED DECEMBER 31, 2022
Item	(Expressed in thousands of New Taiwan dollars) Beginningbalance Increased Decreased ( $ 3,860) ( $ 2,204) $ 1,479			Endingbalance	Remark
Computer equipment	( $ 3,860)	( $ 2,204)	$ 1,479	( $ 4,585)	Note 1

Note 1: The useful lives of computer equipment are 3 to 5 years.

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PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT

STATEMENT OF CHANGES IN INTANGIBLE ASSETS FOR THE YEAR ENDED DECEMBER 31, 2022

	STATEMENT OF CHANGES IN INTANGIBLE ASSETS FOR THE YEAR ENDED DECEMBER 31, 2022	STATEMENT OF CHANGES IN INTANGIBLE ASSETS FOR THE YEAR ENDED DECEMBER 31, 2022	STATEMENT OF CHANGES IN INTANGIBLE ASSETS FOR THE YEAR ENDED DECEMBER 31, 2022	STATEMENT OF CHANGES IN INTANGIBLE ASSETS FOR THE YEAR ENDED DECEMBER 31, 2022
Item	(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS) Beginning balance Increased Decreased Ending balance $ 4,424$ 7,979 ($ 2,760) $ 9,643				Remark
Computer software	$ 4,424	$ 7,979	($ 2,760)	$ 9,643	Note

Note: The useful lives of Computer software are 4 years.

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PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT STATEMENT OF OTHER NON-CURRENT ASSETS

DECEMBER 31, 2022

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Item Operation guaranteed deposits Refundable deposits President Futures Corp. - Clearing and settlement funds Futures association Subtotal Total	Description	Amount $ 10,000 3,000 360 3,360 $ 13,360	Remark

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PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2022

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Name of financial instrument	Description	shares or certificates	Par value (dollar)	Total amount	Interest rate (%)	Cost	Fair value	Fair value	Changes in the fair value attributable to changes in credit risk	Remark
							Unit price (dollars)	Total amount
Options sold TXO Call TXO Put TX1 Call TX1 Put TX2 Call TX2 Put TXO Call TXO Put TX1 Call Total	short short short short short short short short short	135 14 200 144 36 1 157 94 200				＄ 520 321 691 776 86 17 380 302 489		＄ 477 330 643 458 74 15 208 194 335	＄ - - - - - - - - -	Trade Trade Trade Trade Trade Trade Trade Trade Trade
						＄ 3,582		＄ 2,734	＄ -

~186~

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT STATEMENT OF ACCOUNTS PAYABLE

DECEMBER 31, 2022

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Name of client Non-related parties: National Taxation Bureau	Description Futures exchange tax	Amount $ 32	Remark

~187~

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT STATEMENT OF OTHER PAYABLES

DECEMBER 31, 2022

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Name of client Service charge payable Clearance fee Salaries payable Bonuses payable Others Total	Description	Amount $ 2,120 3,610 2,337 28,059 444 $ 36,570	Remark

Note: The items which amount exceed 5% of the total account amount shall be individually presented, while the others that do not meet aforementioned threshold can be collectively presented.

~188~

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT STATEMENT OF NON-CURRENT LIABILITIES

DECEMBER 31, 2022

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Item Inter-department account Total	Description Futures margin - hedged Futures margin – non-hedged Others	Amount $ 219,149 3,204,017 2,940 $ 3,426,106	Remark

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PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT STATEMENT OF NET GAIN FROM DERIVATIVES

FOR THE YEAR ENDED DECEMBER 31, 2022

(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)

Item Gain from derivatives Futures contract gain - non-hedged Futures contract gain - non-hedged Subtotal Option trading gain - non-hedged Option trading gain - non-hedged Subtotal Total Loss from derivatives Futures contract loss - non-hedged Futures contract loss - non-hedged Subtotal Option trading loss - non-hedged Option trading loss - non-hedged Subtotal Total Total	Description Realised Unrealised Realised Unrealised Realised Unrealised Realised Unrealised	Amount ＄ 802,982 3,653 806,635 346,181 ( 4,440) 341,741 1,148,376 ( 767,215 ) ( 7,834) ( 775,049) ( 250,069 ) ( 126) ( 250,195) ( 1,025,244) ＄ 123,132	Remark

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PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT

STATEMENT OF EMPLOYEE BENEFITS, DEPRECIATION, AMORTIZATION, AND OTHER OPERATING EXPENSES FOR THE YEAR ENDED DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Item Employee benefits expense Salaries Labor and health insurance Pension Director’ remuneration Other employee benefits Depreciation expenses Amortization expenses	2022 $ 58,233 3,153 1,465 2,262 2,204 2,760 52,327 $ 122,404	2021 $ 53,327 3,820 1,109 1,161 1,705 1,760 62,835 $ 125,717	Remark

Note ：

1. In 2022 and 2021, the Segment had 24 and 17 employees, respectively, in which directors not concurrently serving as employees were both 0.

2. The annual parent company only financial statements shall additionally disclose the information below:

3. (1)Average employee benefits expense of this year is $2,713 ((a total sum of employee benefits expenses in this year - a total sum of remunerations of directors in this year) / (number of employees in this year - number of nonemployee directors in this year)).

   • Average employee benefits expense of the previous year is $3,495 ((a total sum of employee benefits expenses in the previous year - a total sum of remunerations of directors in the previous year) / (number of employees in the previous year - number of non-employee directors in the previous year)).

4. (2) Average salary of this year is $2,426 (a total sum of salaries in this year / (number of employees in this year - number of non-employee directors in this year)).

   • Average salary of the previous year is $3,137 (a total sum of salaries in the previous year / (number of employees in the previous year – number of non-employee directors in the previous year)).

5. (3) Change of average salary is a decrease of-22.66% ((average salary in this year - average salary in the previous year) / average salary in the previous year).

6. For the years ended December 31, 2022 and 2021, supervisors’ remuneration were both $0. Because of the establishment of Audit Committee, there’s no supervisors’ remuneration.

7. The remuneration policy of the Company (Including directors, supervisors, managers and employees):

8. (1) Directors: Pursuant to Article 19 of the Company’s Articles of Incorporation, the remuneration to director is determined by the board of directors by taking into the degree of participation in the company's operations, contribution and industry standards.

    - Independent directors receive fixed pay monthly and do not participate in the distribution of company directors’ remuneration.
   

9. (2)Managers and employees ： Pursuant to Article 37 of Work Rules, the Company’s remuneration policy is to fairly compensate employees’ contribution to the company, to offer competitive salary among peers, to meet relevant laws and regulations related to salary and to properly control salary cost.

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PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES - FUTURES SEGMENT STATEMENT OF OTHER GAINS AND LOSSES

FOR THE YEAR ENDED DECEMBER 31, 2022

(Expressed in thousands of New Taiwan dollars)

Item Financial income Net currency exchange gain Monetary incentives from TAIFEX Others Total	Description	Amount $ 6,825 17,820 20,450 634 $ 45,729	Remark

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