PSC — Interim / Quarterly Report 2024

Nov 8, 2024

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2024.11.08

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

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

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

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

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

Global Economic Overview

Global economy growth shows stable, the inflation pressure has improved.

• Latest IMF forecast shows the expected global economic growth is 3.2% in 2024, and adjust the projection as 3.2% in 2025.

• As overall inflation decline, central banks focus on interest rate policies to keep stable economic development.

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The outcome of the U.S. election is unclear, and the easing policies will affect the economic.

• The U.S. had announced a CPI annual growth rate of 2.4% in September, indicating that inflation has continuously improved.

• The U.S. non-farm payrolls increased only 12,000 in October, a four-year low, and the market expects the Federal Reserve to maintain its pace of interest rate cuts.

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China has introduced market rescue policies, trying to reverse the weak economic.

• China reported the GDP growth rate of 4.6% in 2024Q3, with weak private consumption and housing market.

• The government has released expansionary policies, which prompt manufacturing PMI to reach 50.1 in October. The subsequent effects is going to influence the economic direction.

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Taiwan's economic momentum is stable, and is expected to expand moderately.

• The Directorate General of Budget has estimated that the economic growth rate is 3.97% in 2024Q3, with an expectation of rising to 4.1% for the full year. Taiwan's annual CPI was 1.82% in September , and PMI is 50 in October.

• In September, NDC's monitoring indicators shows Yellow-Red light (referring to a warming economy ).

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

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Brief Introduction
President Futures Co.,LTD
Uni-President Asset Management Corp.
President Capital Management Corp.
Number of Date of
President Insurance Agency Co., Ltd.
employees Incorporation
PSC Venture Capital Investment Co., Ltd.
1,756
Product and Services
1988.12.17
Number
Brokerage, Proprietary Trading,
of Branches
31 Underwriting, Fixed Income Dealing, Affiliated
Financial Products, Shareholder Services, Companies
Wealth Management & Trust, Capital
Offshore Securities Units
NTD 145.58
Billion
統一綜合證券 President Securities (Hong Kong) LimitedJinYuan President Securities Co.,Ltd.
President Securities Corporation
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President Securities Corporation | Tel : (02)8172-4668 | Add: No.8, Dongxing Rd., Songshan Dist., Taipei City , Taiwan

	Consolidated Balance Sheets	Consolidated Balance Sheets	Consolidated Balance Sheets
	ITEM	2024 Q3 % 2023 Q3 %	YOY
	Current Assets Non-Current Assets	185,975 95% 118,697 92% 10,007 5% 9,741 8%	57% 3%
	Total Assets	195,982 100% 128,438 100% 161,292 82% 96,635 75% 219 0% 94 0%	53% 67% 133%
	Current Liabilities Non-Current Liabilities
	Total Liabilities	161,511 82% 96,729 75% 14,558 8% 14,558 12% 19,913 10% 17,151 13%	67% 0% 16%
	Capital Common Stock Other Equity
	Total Equity	34,471 18% 31,709 25%	9%

Unit：Million NTD

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

Consolidated Income Statement

ITEM	2024 Q3 % 2023 Q3 %	YoY 40% 34% 55% 32% 50% 77% 47% -3659% 72% 48%
Revenues	10,259 100% 7,351 100% 7,120 69% 5,332 72%
Operating Expenses Operating Income Other Income and Costs Income Before Tax Income Tax Expense
	3,139 31% 2,019 28% 865 8% 657 9%
	4,004 39% 2,676 37% 385 3% 217 3%
Net Income	3,619 36% 2,459 34% 639 6% 17 0%
Other Comprehensive Income Total Comprehensive Income
	4,258 42% 2,476 34%
EPS(NTD)	2.48 - 1.68 -

Unit：Million NTD

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

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-
5 Years Operating Performances
營收Revenue
淨利Net Income
100 MIL
EPS
116.22
102.59
95.81
100 95.43
2.75
2.48 62.71
2.48
1.98
50
40.11
36.15 36.19
28.90
0.5
7.36
0
2020 2021 2022 2023 2024 Q3 2024 YEAR
SOURCE：MOPS
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President Securities Corporation | Tel : (02)8172-4668 | Add: No.8, Dongxing Rd., Songshan Dist., Taipei City , Taiwan

Business Development

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Brokerage Business

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Proprietary Trading

Market Position

Operating Status

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In financing balances, PSC has achieved a higher market share compared to 2023Q3. This quarter, the department optimized the customer ledgers, not only accelerating the workflow but also enhancing the delivery of settlement information.

Market Promotion

The department launched the “PSC e-Account" marketing campaign, welcoming investors to join the customer ledgers, which provide the effectiveness of asset utilization and convenient services of investment.

This quarter, the stock market has experienced significant fluctuations. Our operating strategy maintain neutral, supplemented by hedging positions. The sector-specific stock selection has been applied to navigate the investment in turbulent market.

Operational Strategy

Looking ahead for the last quarter, the factors that previously led to declines are gradually fading. The Fed's policy is leaning dovish, and the U.S. economic is anticipate to achieve a soft-landing. We will consider to increase our positions at the appropriate time.

PSC e-Account ： https://webportal.pscnet.com.tw/event_2021001/index.php

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

Business Development

Fixed Income Dealin g

Operating Strategy

The FED has started a cycle of interest rate cuts in September. The first rate cut was two digits, prompting a significant recovery in overseas bond market demand, also turning our holdings from losses to profits.

Market Outlook

The U.S. economy us facing uncertainty, but the expectation of lowering interest rates to a neutral level, is likely to increase the demand of bond market. Thus, the strategy of increasing overall bond positions will be implant actively.

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Underwriting Business

Underwriting Performance

The market participation rate has grown compared to last year, and the submission schedule is primarily concentrated in the first half. Moreover, it is expected to achieve the annual submission targets.

Development Strategy

The department actively engages in the market and strives to expand its market share in IPO and SPO.

Wealth Management

Investment Trust

The scale of trust assets reached 14.6 billion. The rate of Offshore Structured Notes has grown by 247% compared to 2023. Foreign bonds and Overseas stocks shown exceptional performance this year.

Marketing Campaign

Launched the fourth quarter "Overseas Stock Champion Competition" campaign to encourage the diversification and flexibility of customers' asset allocation.

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

Business Development

Quantitative Trading

Business Profile

The accumulated profits is rank 3rd among proprietary concurrent operation of futures business in 2024. Additionally, we continuously operate new business of overseas futures spot arbitrage trading services, to reduce the single-market risks.

Operating Strategy

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

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Financial Product Business

Market Share

The Equity Options Business maintains its position as the 2nd market share holder, while the volume of Structured Notes secures a market share ranking of 4th. Additionally, the issuance of call (put) warrants attains a market share ranking of 7th.

Marketing Campaign

Beside providing investors with more options for warrants, the department continuously optimize hedging efficiency and further improve product quality to provide investors with better financial tools.

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

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AWARD
P [S] C
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AWARDS

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Commercial Times
2024 Digital Financial Award
Digital Fair Hospitality Award
Golden Prize
8th
Taipei Golden Eagle
Middle-Aged and Elderly
Micro Movie Festival
Friendly Enterprises Certificate
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President Securities Corporation | Tel : (02)8172-4668 | Add: No.8, Dongxing Rd., Songshan Dist., Taipei City , Taiwan

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AWARD
P [S] C
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AWARDS

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Business Today’s 18th
Best Wealth Management
of Banks and Securities
Best
Sustainability Development
First Prize
10th
Futures Diamond Awards
Risk Management Evaluation
Diamond Award for
First Level :
Securities Industry
Excellent
Trading Volume
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President Securities Corporation | Tel : (02)8172-4668 | Add: No.8, Dongxing Rd., Songshan Dist., Taipei City , Taiwan

Q&A

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