PSC - Interim / Quarterly Report 2025

PRESIDENT SECURITIES CORPORATION AND

SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS AND

INDEPENDENT AUDITORS’ REPORT

JUNE 30, 2025 AND 2024

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.

~1~

INDEPENDENT AUDITORS’ REPORT TRANSLATED FROM CHINESE

PWCR25001612

To the Board of Directors and Shareholders of PRESIDENT SECURITIES CORPORATION

Opinion

We have audited the accompanying consolidated balance sheets of President Securities Corporation and subsidiaries (the “Group”) as at June 30, 2025, December 31, 2024 and June 30, 2024, and the related consolidated statements of comprehensive income for the three months and six months ended June 30, 2025 and 2024, as well as the consolidated statements of changes in equity and of cash flows for the six months ended June 30, 2025 and 2024, and notes to the consolidated financial statements, including a summary of material accounting policies.

In our opinion, based on our audits and the report of other auditors (please refer to the Other matter section), the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at June 30, 2025, December 31, 2024 and June 30, 2024, and its consolidated financial performance for the three months and six months ended June 30, 2025 and 2024 and its consolidated cash flows for the six months ended June 30, 2025 and 2024 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Firms, Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants, and the International Accounting Standard No. 34, “Interim Financial Reporting” that came into effect as endorsed by the Financial Supervisory Commission.

Basis for opinion

We conducted our audits in accordance with the Regulations Governing Financial Statement Audit and Attestation Engagements of Certified Public Accountants and Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the consolidated financial statements section of our report. We are independent of the Group in accordance with the Norm of

~2~

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 consolidated financial statements for the six months ended June 30, 2025. These matters were addressed in the context of our audit of the consolidated financial statements as a whole and, in forming our opinion thereon, we do not provide a separate opinion on these matters.

Key audit matters for the consolidated financial statements for the six months ended June 30, 2025 are stated as follows:

Fair value measurement of unlisted stocks without active market

Description

Please refer to Note 4 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 critical accounting judgements, estimates and assumption uncertainty. As at June 30, 2025, the unlisted stocks without active market held by the Group totaled 1,510,853 thousand New Taiwan Dollars and were shown as “financial assets at fair value through other comprehensive income” (Level 3 fair value).

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

Above-mentioned estimation of fair value involves various assumptions and material unobservable inputs, which has high uncertainty and subjective judgement. Any changes in

~3~

judgements and estimates may affect the ultimate result of accounting estimates and have an impact on the financial statements of the Group. Thus, we have included the fair value measurement of unlisted stocks without active market as a key audit matter in our audit.

How our audit addressed the matter

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

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

Other matter – Reference to the audits of other auditors

We did not audit the financial statements of certain investments accounted for under the equity method which were audited by other auditors. Therefore, our opinion expressed herein, insofar as it relates to the amounts included in respect of these associates, is based solely on the report of the other auditors. The balance of these investments accounted for under the equity method amounted to 2,370,754 thousand New Taiwan Dollars, constituting 1.20% of the consolidated total assets as at June 30, 2025, and the comprehensive income recognized from associates and joint ventures accounted for under the equity method amounted to 12,144 thousand New Taiwan Dollars and (45,449) thousand New Taiwan Dollars, constituting 3.07% and (10.53%) of the consolidated total comprehensive income for the three months and six months then ended.

~4~

Other matter – Parent company only financial reports

We have audited and expressed an unqualified opinion with other matter paragraph and an unqualified opinion of President Securities Corporation, as at and for the six months ended June 30, 2025 and 2024.

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

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Firms, Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants, and International Accounting Standard No. 34, “Interim Financial Reporting” that came into effect as endorsed by the Financial Supervisory Commission, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statement that are free from material misstatement, whether due to fraud or error.

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

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

~5~

Auditors’ responsibilities for the audit of the consolidated financial statements

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

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

Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

~6~

Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Group to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or when,

~7~

in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Wang, Fang-Yu

Independent Auditors

Kuo, Puo-Ju

For and on behalf of PricewaterhouseCoopers, Taiwan

August 27, 2025

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

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

~8~

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS

JUNE 30, 2025, DECEMBER 31, 2024 AND JUNE 30, 2024

(Expressed in thousands of New Taiwan dollars)

Assets	Notes	June 30, 2025	December 31, 2024 AMOUNT % `$` `7,720,139` `4` `61,405,082` `32` `4,495,890` `2` `-` `-` `21,935,917` `11` `6,647` `-` `5,513` `-` `18,600,130` `10` `35,545,540` `19` `402,885` `-` `374,439` `-` `338` `-` `29,482,722` `15` `944` `-` `37,168` `-` `100,882` `-` `190` `-` `3,170,687` `2` `183,285,113` `95` `117,671` `-` `1,452,561` `1` `3,611,621` `2` `2,641,569` `1` `222,677` `-` `182,731` `-` `290,626` `-` `132,712` `-` `1,535,916` `1` `10,188,084` `5` `$` `193,473,197` `100`	June 30, 2024
		AMOUNT `$` `8,252,543` `55,252,117` `8,704,166` `148,610` `15,850,237` `8,153` `6,793` `18,909,447` `43,865,720` `531,802` `623,475` `1,381` `31,640,280` `1,383` `53,524` `168,594` `179` `3,725,280` `187,743,684` `116,487` `1,510,853` `3,168,820` `2,616,408` `238,731` `182,019` `276,437` `133,477` `1,822,569` `10,065,801` `$` `197,809,485`	AMOUNT `$` `7,720,139` `61,405,082` `4,495,890` `-` `21,935,917` `6,647` `5,513` `18,600,130` `35,545,540` `402,885` `374,439` `338` `29,482,722` `944` `37,168` `100,882` `190` `3,170,687` `183,285,113` `117,671` `1,452,561` `3,611,621` `2,641,569` `222,677` `182,731` `290,626` `132,712` `1,535,916` `10,188,084` `$` `193,473,197`	AMOUNT `$` `6,110,450` `67,958,249` `3,711,912` `20,803` `22,155,682` `31,242` `25,650` `18,574,372` `23,620,653` `734,086` `1,923,721` `935` `32,275,579` `1,545` `57,569` `312,402` `118` `2,447,674` `179,962,642` `117,390` `1,381,269` `3,382,507` `2,622,439` `160,373` `183,442` `293,287` `131,340` `1,451,448` `9,723,495` `$` `189,686,137`	%
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 114070 Customer margin account 114090 Receivables from security lending 114100 Security lending deposits 114110 Notes receivable 114130 Accounts receivable 114140 Accounts receivable-related parties 114150 Prepayments 114170 Other receivables 114600 Current tax assets 119000 Other current assets 110000 Total current assets 120000 Non-current assets 122000 Financial assets at fair value through profit or loss - non- current 123200 Financial assets at fair value through other comprehensive income - non-current 124100 Investments accounted for under the equity method 125000 Property and equipment, net 125800 Right-of-use assets 126000 Investment property 127000 Intangible assets 128000 Deferred tax assets 129000 Other assets - non-current 120000 Total non-current assets 906001 Total Assets	6(1) 6(2) 6(3) 6(4) 6(5) 6(6) 6(7) 6(8) 6(8) 6(9) 6(10) 6(2) 6(3) 6(13) 6(14) 6(15) 6(17) 6(18) 6(49) 6(19)				`3` `36` `2` `-` `12` `-` `-` `10` `13` `-` `1` `-` `17` `-` `-` `-` `-` `1`
					`95`
					`-` `1` `2` `1` `-` `-` `-` `-` `1`
					`5`
					`100`

(Continued)

~9~

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS JUNE 30, 2025, DECEMBER 31, 2024 AND JUNE 30, 2024

(Expressed in thousands of New Taiwan dollars)

Liabilities and Equity	Notes	June 30, 2025	December 31, 2024 AMOUNT % `$` `8,804,220` `5` `32,969,815` `17` `13,536,538` `7` `15,589,881` `8` `1,208,692` `1` `1,707,090` `1` `973,576` `1` `35,522,374` `18` `1,973,140` `1` `27,475,583` `14` `3,682` `-` `957,998` `1` `2,858,854` `1` `13,801,583` `7` `310,465` `-` `72,104` `-` `89,371` `-` `157,854,966` `82` `15,585` `-` `149,590` `-` `21,235` `-` `38,219` `-` `224,629` `-` `158,079,595` `82` `14,558,313` `8` `-` `-` `91,261` `-` `4,233,889` `2` `9,803,068` `5` `4,381,105` `2` `2,221,269` `1` `35,288,905` `18` `104,697` `-` `35,393,602` `18` `$` `193,473,197` `100`	June 30, 2024
		AMOUNT `$` `2,607,880` `13,093,407` `22,282,959` `23,635,241` `1,029,298` `1,375,292` `3,012,515` `43,822,153` `2,818,648` `30,091,309` `2,790` `664,886` `3,690,768` `14,824,324` `127,717` `74,321` `119,407` `163,272,915` `22,308` `158,602` `73,203` `24,251` `278,364` `163,551,279` `14,558,313` `1,455,831` `88,963` `4,671,304` `10,677,898` `540,924` `2,111,714` `34,104,947` `153,259` `34,258,206` `$` `197,809,485`	AMOUNT `$` `8,804,220` `32,969,815` `13,536,538` `15,589,881` `1,208,692` `1,707,090` `973,576` `35,522,374` `1,973,140` `27,475,583` `3,682` `957,998` `2,858,854` `13,801,583` `310,465` `72,104` `89,371` `157,854,966` `15,585` `149,590` `21,235` `38,219` `224,629` `158,079,595` `14,558,313` `-` `91,261` `4,233,889` `9,803,068` `4,381,105` `2,221,269` `35,288,905` `104,697` `35,393,602` `$` `193,473,197`	AMOUNT `$` `12,835,120` `32,808,987` `14,104,485` `14,747,689` `693,604` `920,618` `4,162,931` `23,597,437` `1,466,262` `32,019,656` `2,928` `746,254` `4,483,128` `12,736,224` `197,362` `59,777` `101,242` `155,683,704` `15,551` `98,044` `60,439` `46,032` `220,066` `155,903,770` `14,558,313` `-` `91,261` `4,233,889` `9,803,068` `3,076,599` `1,923,498` `33,686,628` `95,739` `33,782,367` `$` `189,686,137`	%
210000 Current liabilities 211100 Short-term loans 211200 Commercial papers payable 212000 Financial liabilities at fair value through profit or loss - current 214010 Bonds sold under repurchase agreements 214040 Deposits on short sales 214050 Short sale proceeds payable 214070 Guarantee deposit received on borrowed securities 214080 Futures traders' equity 214090 Equity for each customer in the account 214130 Accounts payable 214150 Advance receipts 214160 Collections on behalf of third parties 214170 Other payables 214200 Other financial liabilities - current 214600 Current tax liability 216000 Current lease liabilities 219000 Other current liabilities 210000 Total current liabilities 220000 Non-current liabilities 225100 Non-current provisions 226000 Non-current lease liabilities 228000 Deferred tax liabilities 229000 Other liabilities-non-current 220000 Total non-current liabilities 906003 Total Liabilities 300000 Equity attributable to owners of the parent company 301000 Capital 301010 Common stock 301070 Stock dividends to be distributed 302000 Capital reserve 304000 Retained earnings 304010 Legal reserve 304020 Special reserve 304040 Unappropriated earnings 305000 Other equity interest 300000 Total 306000 Non-controlling interests 906004 Total Equity 906002 Total liabilities and equity	6(20) 6(21) 6(22) 6(23) 6(7) 6(24) 6(25) 6(26) 6(49) 6(27) 6(29) 6(29) 6(29) 6(30)				`7` `17` `8` `8` `-` `1` `2` `12` `1` `17` `-` `-` `2` `7` `-` `-` `-`
					`82`
					`-` `-` `-` `-`
					`-`
					`82`
					`8` `-` `-` `2` `5` `2` `1`
					`18`
					`-`
					`18`
					`100`

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

~10~

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024

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

					Three months ended June 30	Three months ended June 30	Three months ended June 30	Three months ended June 30			Six months ended June 30	Six months ended June 30	Six months ended June 30	Six months ended June 30
					2025			2024			2025			2024
	Items	Notes			AMOUNT	%		AMOUNT	%		AMOUNT	%		AMOUNT	%
400000	Revenues
401000	Brokerage handling fee	6(31)
	revenue			`$`	`951,141`	`41`		`$ 1,264,553`	`35`		`$ 1,888,494`	`47`		`$ 2,333,248`	`31`
404000	Revenues from underwriting	6(32)
	business				`41,266`		`2`	`32,343`		`1`	`61,529`		`2`	`64,309`	`1`
406000	Net gain (loss) on wealth
	management				`16,180`		`1`	`16,379`		`-`	`31,666`		`1`	`36,293`	`-`
410000	Net gain (loss) on sale of	6(33)
	operating securities		`(`		`1,549,385) (`	`67)`		`3,329,240`	`93 (`		`1,935,919) (`	`48)`		`5,937,655`	`78`
421100	Revenue from providing
	agency service for stock affairs				`28,113`		`1`	`27,092`		`1`	`50,284`		`1`	`48,049`	`1`
421200	Interest income	6(34)			`569,926`	`25`		`498,338`	`14`		`1,209,143`	`30`		`1,000,299`	`13`
421300	Dividend income				`240,985`	`10`		`226,181`		`6`	`360,643`		`9`	`340,907`	`5`
421500	Net valuation gain (loss) on	6(35)
	operating securities at fair
	value through profit or loss				`1,702,724`	`74`		`1,661,470`	`46 (`		`267,443) (`		`7)`	`3,266,537`	`43`
421600	Net gain (loss) on covering of	6(36)
	borrowed securities and bonds
	with resale agreements-short
	sales		`(`		`149,763) (`		`7) (`	`296,681) (`		`8) (`	`202,366) (`		`5) (`	`622,783) (`	`8)`
421610	Net valuation gain (loss) on	6(37)
	borrowed securities and bonds
	with resale agreements-short
	sales at fair value through
	profit or loss		`(`		`461,385) (`	`20)`		`26,017`		`1`	`16,349`		`- (`	`130,655) (`	`2)`
421750	Net realized gain (loss) on	6(38)
	financial liabilities measured at
	fair value through other
	comprehensive income				`42,489`		`2`	`-`		`-`	`42,489`		`1`	`-`	`-`
421800	Valuation gain (loss) on
	securities for futures margin at
	fair value through profit or loss				`-`		`- (`	`81,590) (`		`2)`	`-`		`-`	`-`	`-`
422000	Net gain (loss) on issuance of
	ETNs		`(`		`26,391) (`		`1) (`	`35,266) (`		`1) (`	`10,608)`		`- (`	`101,470) (`	`1)`
422100	Administrative and handling
	fee revenues from issuance of
	ETNs				`993`		`-`	`1,427`		`-`	`2,150`		`-`	`2,958`	`-`
422200	Net gain (loss) from issuance	6(39)
	of call (put) warrants		`(`		`66,044) (`		`3) (`	`427,198) (`	`12)`		`588,468`	`15 (`		`898,654) (`	`12)`
424400	Net gain (loss) from	6(40)
	derivatives				`779,545`	`34 (`		`2,868,986) (`	`80)`		`1,836,355`	`45 (`		`4,218,764) (`	`56)`
425300	Expected credit impairment	6(41)
	loss and reversal of
	impairment gain				`2,649`		`- (`	`4,380)`		`-`	`19,148`		`-`	`17,829`	`-`
428000	Other operating income	6(42)			`188,350`		`8`	`231,422`		`6`	`349,334`		`9`	`522,719`	`7`
	Total revenues				`2,311,393`	`100`		`3,600,361`	`100`		`4,039,716`	`100`		`7,598,477`	`100`
500000	Expenditures and expenses
501000/
502000/
503000	Handling charges	6(43)	`(`		`148,413) (`		`7) (`	`203,537) (`		`6) (`	`310,346) (`		`8) (`	`374,483) (`	`5)`
507000	ETNs administrative expenses		`(`		`1,288)`		`- (`	`1,351)`		`- (`	`4,707)`		`- (`	`5,104)`	`-`
521200	Financial costs	6(44)	`(`		`411,927) (`	`18) (`		`380,577) (`	`11) (`		`834,111) (`	`21) (`		`739,627) (`	`10)`
524100	Futures commission expense		`(`		`26,113) (`		`1) (`	`22,649) (`		`1) (`	`53,697) (`		`1) (`	`45,305) (`	`1)`
524300	Expense of clearing and
	settlement		`(`		`28,704) (`		`1) (`	`38,614) (`		`1) (`	`56,366) (`		`1) (`	`70,499) (`	`1)`
528000	Other operating expenditure		`(`		`29)`		`- (`	`1,639)`		`- (`	`764)`		`- (`	`1,886)`	`-`
531000	Employee benefits expense	6(45)	`(`		`771,381) (`	`33) (`		`1,034,378) (`	`29) (`		`1,494,865) (`	`37) (`		`2,240,755) (`	`29)`
532000	Depreciation and amortization	6(46)	`(`		`97,099) (`		`4) (`	`88,788) (`		`2) (`	`192,470) (`		`5) (`	`174,117) (`	`2)`
533000	Other operating expenses	6(47)	`(`		`561,989) (`	`24) (`		`622,524) (`	`17) (`		`1,090,807) (`	`27) (`		`1,147,673) (`	`15)`
	Total expenditures and
	expenses		`(`		`2,046,943) (`	`88) (`		`2,394,057) (`	`67) (`		`4,038,133) (`	`100) (`		`4,799,449) (`	`63)`

(Continued)

~11~

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024

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

					Three months ended June 30	Three months ended June 30	Three months ended June 30	Three months ended June 30	Three months ended June 30				Six months ended June 30	Six months ended June 30	Six months ended June 30	Six months ended June 30	Six months ended June 30
					2025				2024				2025				2024
	Items	Notes			AMOUNT	%			AMOUNT	%			AMOUNT	%			AMOUNT	%
	Operating profit			`$`	`264,450`	`12`		`$`	`1,206,304`	`33`		`$`	`1,583`		`-`	`$`	`2,799,028`	`37`
601000	Share of the profit or loss of	6(13)
	associates and joint ventures
	accounted for under the equity
	method				`110,770`		`5`		`62,688`		`2`		`153,011`		`4`		`103,682`	`1`
602000	Other gains and losses	6(48)			`326,550`	`14`			`227,965`		`6`		`597,673`	`15`			`438,443`	`6`
902001	Profit before tax				`701,770`	`31`			`1,496,957`	`41`			`752,267`	`19`			`3,341,153`	`44`
701000	Income tax (expense) benefit	6(49)	`(`		`108,430) (`		`5) (`		`149,931) (`		`4) (`		`221,809) (`		`6) (`		`265,669) (`	`4)`
902005	Net income			`$`	`593,340`	`26`		`$`	`1,347,026`	`37`		`$`	`530,458`	`13`		`$`	`3,075,484`	`40`
	Other comprehensive income
	Components of other
	comprehensive income that
	will not be reclassified to
	profit or loss
805540	Net unrealized gain (loss)
	from investments in equity
	instruments at fair value
	through other
	comprehensive income			`$`	`184,586`		`8`	`$`	`291,139`		`8`	`$`	`131,586`		`4`	`$`	`461,770`	`6`
805550	Other comprehensive
	income (loss) of associates
	and joint ventures accounted
	for under the equity method		`(`		`426)`		`-`		`11,842`		`-`		`4,302`		`-`		`14,455`	`-`
	Items may be reclassified to
	profit of loss subsequently
805610	Translation gain (loss) on
	the financial statements of
	foreign operating entities		`(`		`426,279) (`	`19)`			`32,689`		`1 (`		`358,996) (`		`9)`		`119,167`	`2`
805615	Net unrealized gain (loss)
	from investments in debt
	instruments at fair value
	through other
	comprehensive income				`44,493`		`2 (`		`13,268)`		`-`		`124,155`		`3 (`		`101,302) (`	`1)`
805000	Current other comprehensive
	income (loss) (post-tax)		`($`		`197,626) (`		`9)`	`$`	`322,402`		`9 ($`		`98,953) (`		`2)`	`$`	`494,090`	`7`
902006	Total current comprehensive
	income			`$`	`395,714`	`17`		`$`	`1,669,428`	`46`		`$`	`431,505`	`11`		`$`	`3,569,574`	`47`
	Income attributable to:
913100	Parent company			`$`	`587,786`	`26`		`$`	`1,343,991`	`37`		`$`	`520,549`	`13`		`$`	`3,069,644`	`40`
913200	Non-controlling interests			`$`	`5,554`		`-`	`$`	`3,035`		`-`	`$`	`9,909`		`-`	`$`	`5,840`	`-`
	Current comprehensive income
	(loss) attributable to:
914100	Parent company			`$`	`390,342`	`17`		`$`	`1,662,378`	`46`		`$`	`419,754`	`11`		`$`	`3,558,833`	`47`
914200	Non-controlling interests			`$`	`5,372`		`-`	`$`	`7,050`		`-`	`$`	`11,751`		`-`	`$`	`10,741`	`-`
	Earnings per share	6(50)
975000	Basic earnings per share (in
	dollars)			`$`		`0.37`		`$`		`0.84`		`$`		`0.33`		`$`		`1.92`
985000	Diluted earnings per share (in
	dollars)			`$`		`0.37`		`$`		`0.84`		`$`		`0.32`		`$`		`1.91`

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

~12~

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY SIX MONTHS ENDED JUNE 30, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

Equity attributable to owners of the parent

For the six months ended June 30, 2024 Balance at January 1, 2024 Net income for the six months ended June 30, 2024 Other comprehensive income (loss) for the six months ended June 30, 2024 Total comprehensive income (loss) for the six months ended June 30, 2024 Appropriations of 2023 earnings: Legal reserve Special reserve Cash dividends Changes in non-controlling interests Balance at June 30, 2024 For the six months ended June 30, 2025 Balance at January 1, 2025 Net income for the six months ended June 30, 2025 Other comprehensive income (loss) for the six months ended June 30, 2025 Total comprehensive income (loss) for the six months ended June 30, 2025 Appropriations of 2024 earnings: Legal reserve Special reserve Cash dividends Stock dividends Changes in ownership interests in subsidiaries Changes in non-controlling interests Balance at June 30, 2025	Notes		Capital	Capital	Capital		Capital reserve				Retained earnings				Other equityinterest	Other equityinterest	Other equityinterest		Total	Non-controlling interests		Total equity
			Common stock	S	tock dividends to be distributed				Legal reserve		Special reserve		Unappropriated earnings		Exchange differences on translation of foreign financial statements	a f	Unrealised gain or loss on financial ssets measured at air value through other comprehensive income
	6(30) 6(30)		`$ 14,558,313` `-` `-` `-` `-` `-` `-` `-` `$ 14,558,313` `$ 14,558,313` `-` `-` `-` `-` `-` `-` `-` `-` `-` `$ 14,558,313`		`$` `-` `-` `-` `-` `-` `-` `-` `-` `$` `-` `$` `-` `-` `-` `-` `-` `-` `-` `1,455,831` `-` `-` `$ 1,455,831`	`$ 91,261` `-` `-` `-` `-` `-` `-` `-` `$ 91,261` `$ 91,261` `-` `-` `-` `-` `-` `-` `-` `(` `2,298 )` `-` `$ 88,963`			`$ 3,959,127` `-` `-` `-` `274,762` `-` `-` `-` `$ 4,233,889` `$ 4,233,889` `-` `-` `-` `437,415` `-` `-` `-` `-` `-` `$ 4,671,304`		`$ 9,253,546` `-` `-` `-` `-` `549,522` `-` `-` `$ 9,803,068` `$ 9,803,068` `-` `-` `-` `-` `874,830` `-` `-` `-` `-` `$ 10,677,898`	`$ 2,752,936` `3,069,644` `-` `3,069,644` `(` `274,762 )` `(` `549,522 )` `(` `1,921,697 )` `-` `$ 3,076,599` `$ 4,381,105` `520,549` `-` `520,549` `(` `437,415 )` `(` `874,830 )` `(` `1,601,414 )` `(` `1,455,831 )` `8,760` `-` `$` `540,924`		`$` `43,973` `-` `119,167` `119,167` `-` `-` `-` `-` `$` `163,140` `$` `200,689` `-` `(` `358,996 )` `(` `358,996 )` `-` `-` `-` `-` `-` `-` `($` `158,307 )`		`$` `1,390,336` `-` `370,022` `370,022` `-` `-` `-` `-` `$` `1,760,358` `$` `2,020,580` `-` `258,201` `258,201` `-` `-` `-` `-` `(` `8,760 )` `-` `$` `2,270,021`		`$ 32,049,492` `3,069,644` `489,189` `3,558,833` `-` `-` `(` `1,921,697 )` `-` `$ 33,686,628` `$ 35,288,905` `520,549` `(` `100,795 )` `419,754` `-` `-` `(` `1,601,414 )` `-` `(` `2,298 )` `-` `$ 34,104,947`		`$` `92,616` `5,840` `4,901` `10,741` `-` `-` `-` `(` `7,618 )` `$` `95,739` `$ 104,697` `9,909` `1,842` `11,751` `-` `-` `-` `-` `2,298` `34,513` `$ 153,259`	`$ 32,142,108` `3,075,484` `494,090` `3,569,574` `-` `-` `(` `1,921,697 )` `(` `7,618 )` `$ 33,782,367` `$ 35,393,602` `530,458` `(` `98,953 )` `431,505` `-` `-` `(` `1,601,414 )` `-` `-` `34,513` `$ 34,258,206`

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

~13~

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

SIX MONTHS ENDED JUNE 30, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax
Adjustments
Income and expenses having no effect on cash flows
Net valuation (gain) loss on operating securities at fair value
through profit or loss
Net valuation (gain) loss on borrowed securities and bonds
with resale agreements-short sales at fair value through profit
or loss
Expected impairment loss and reversal of impairment gain
Depreciation
Amortization
Financial expense
Interest income (include financial income)
Dividend income
Share of the profit of associates and joint ventures accounted
for under the equity method
(Gain) loss on disposal of property and equipment
(Gain) loss from lease modification
(Gain) loss on valuation of non-operating financial
instrument
Changes in assets/liabilities relating to operating activities
Changes in operating assets
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
Customer margin account
Receivables from security lending
Security lending deposits
Notes receivable
Accounts receivable
Accounts receivable-related parties
Prepayments
Other receivables
Other current assets
Net changes in liabilities relating to operating activities
Financial liabilities at fair value through profit or loss
Bonds sold under repurchase agreements
Deposits on short sales
Short sale proceeds payable
Guarantee deposit received on borrowed securities
Futures traders’ equity
Equity for each customer in the account
Accounts payable
Advance receipts
Collections on behalf of third parties
Other payables
Other financial liabilities - current
Other current liabilities Six months ended June 30
Notes
2025
2024
$
752,267
$
3,341,153
6(2)(35)
267,443
(
3,266,537 )
6(37)
(
16,349 )
130,655
6(41)
(
18,969 )
(
17,417 )
6(46)
137,791
125,210
6(46)
54,679
48,907
6(44)
834,111
739,627
6(34)(48)
(
1,707,933 )
(
1,327,975 )
(
388,077 )
(
347,858 )
6(13)
(
153,011 )
(
103,682 )
6(14)
1
35
-
(
11 )
6(48)
(
10,934 )
(
7,267 )
5,898,865
(
10,983,115 )
(
4,730,709 )
(
325,670 )
(
148,610 )
(
20,803 )
6,103,968
(
4,741,679 )
(
1,506 )
(
29,260 )
(
1,280 )
(
24,174 )
(
309,317 )
(
9,327,203 )
(
8,320,180 )
(
3,094,536 )
(
128,917 )
(
282,689 )
(
249,036 )
(
1,448,016 )
(
1,043 )
540
(
1,785,626 )
(
12,935,111 )
(
439 )
(
354 )
(
16,356 )
(
8,023 )
(
57,741 )
(
14,000 )
(
554,593 )
(
721,802 )
8,762,770
3,502,518
8,045,360
(
4,392,817 )
(
179,394 )
(
227,489 )
(
331,798 )
(
242,886 )
2,038,939
2,530,923
8,299,779
3,099,543
845,508
614,179
2,328,395
14,843,270
(
892 )
(
714 )
(
293,112 )
131,874
(
776,890 )
292,905
1,022,741
7,512,205
30,036
17,187

(Continued)

~14~

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS

SIX MONTHS ENDED JUNE 30, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

Cash inflow (outflow) generated from operations
Interest received
Dividends received
Income tax paid
Net cash flows from (used in) operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property and equipment
Acquisition of intangible assets
(Increase) decrease in other non-current assets
Increase in prepayment for equipment
Net cash flows used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (decrease) in short-term loans
Increase (decrease) in commercial papers payable
Increase (decrease) in other non-current liabilities
Payments of lease liabilities
Interest paid
Changes in non-controlling interest
Net cash flows (used in) from financing activities
Effect of exchange rate changes
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period Six months ended June 30
Notes
2025
2024
$
25,239,941
( $
16,960,357 )
1,736,847
1,290,690
596,068
219,295
(
353,343 )
(
293,024 )
27,219,513
(
15,743,396 )
6(14)
(
34,646 )
(
38,318 )
6(18)
(
11,232 )
(
15,162 )
(
272,376 )
(
197,314 )
(
77,746 )
(
66,115 )
(
396,000 )
(
316,909 )
(
6,196,340 )
5,890,361
(
19,910,000 )
11,700,000
(
13,968 )
(
18,457 )
(
41,216 )
(
37,467 )
(
749,780 )
(
765,618 )
46,696
-
(
26,864,608 )
16,768,819
573,499
(
108,042 )
532,404
600,472
7,720,139
5,509,978
$
8,252,543
$
6,110,450

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

~15~

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED JUNE 30, 2025 AND 2024

(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 June 30, 2025, the Company had 31 operating branches (including the Head Office), and established Offshore Securities Unit in July 2014.
2) The Company and its subsidiaries (collectively referred herein as the “Group”) are 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 Group were 1,827 and 1,737 as of June 30, 2025 and 2024, respectively.
THE DATE OF AUTHORIZATION FOR ISSUANCE OF THE CONSOLIDATED FINANCIAL STATEMENTS AND PROCEDURES FOR AUTHORIZATION
These consolidated financial statements were authorized for issuance by the Board of Directors on August 27, 2025.
APPLICATION OF NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS
1) Effect of the adoption of new issuances of or amendments to International Financial Reporting Standards (“IFRS[®] ”) Accounting Standards 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 2025 are as follows:

Effective date by International Accounting New Standards, Interpretations and Amendments Standards Board Amendments to IAS 21, ‘Lack of exchangeability’ January 1, 2025

~16~

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

2) Effect of new issuances of or amendments to IFRS Accounting Standards as endorsed by

the FSC but not yet adopted by the Group

New standards, interpretations and amendments endorsed by the FSC and will become effective from 2026 are as follows:

effective from 2026 are as follows:

New Standards, Interpretations and Amendments

Effective date by
International Accounting
Standards Board

Specific provisions of Amendments to IFRS 9 and IFRS 7, ‘Amendments to
the classification and measurement of financial instruments’
Amendments to IFRS 9 and IFRS 7, ‘Contracts referencing nature-
dependent electricity’
IFRS 17, ‘Insurance contracts’
Amendments to IFRS 17, ‘Insurance contracts’
Amendment to IFRS 17, ‘Initial application of IFRS 17 and IFRS 9 –
comparative information’
Annual Improvements to IFRS Accounting Standards—Volume 11

January 1, 2026
January 1, 2026
January 1, 2023
January 1, 2023
January 1, 2023
January 1, 2026

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

3) IFRS Accounting Standards issued by IASB but not yet endorsed by the FSC

New standards, interpretations and amendments issued by IASB but not yet included in the

IFRS Accounting Standards as endorsed by the FSC are as follows:

FRS Accounting Standards as endorsed by the FSC are as follows:
New Standards, Interpretations and Amendments	Effective date by International Accounting Standards Board
Amendments to IFRS 10 and IAS 28, ‘Sale or contribution of assets between an investor and its associate or joint venture’ IFRS 18, ‘Presentation and disclosure in financial statements’ IFRS 19, ‘Subsidiaries without public accountability: disclosures’	To be determined by International Accounting Standards Board January 1, 2027 January 1, 2027

Except for the following, the above standards and interpretations have no significant impact to the Group’s financial condition and financial performance based on the Group’s assessment: IFRS 18, ‘Presentation and disclosure in financial statements’

IFRS 18, ‘Presentation and disclosure in financial statements’ replaces IAS 1. The standard introduces a defined structure of the statement of profit or loss, disclosure requirements related to management-defined performance measures, and enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes.

~17~

4. SUMMARY OF MATERIAL ACCOUNTING POLICIES

The principal accounting policies adopted are consistent with Note 4 in the consolidated financial statements for the year ended December 31, 2024, except for the compliance statement, basis of preparation, basis of consolidation and the portions applicable to interim financial statements as set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

1) Compliance statement

A. The consolidated financial statements of the Group 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, and the International Accounting Standards No 34, ‘Interim financial reporting’ that came into effect as endorsed by the FSC.
B. These consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2024.

2) Basis of preparation

A. Except for the following items, these consolidated 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 assets or 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 Interpretations 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 Group’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 5.

3) Basis of consolidation

A. Basis for preparation of consolidated financial statements:
The principle for the preparation of this consolidated financial statements are the same as those for the consolidated financial statements for the year ended December 31, 2024.

~18~

B. Subsidiaries included in the consolidated financial statements:

Name of Investor	Name ofSubsidiary	Main Business Activities Futures brokerage and dealer Securities investment consulting Securities dealer, brokerage, underwriting and consulting (Note 3) Insurance Agent Consultation of investment management and venture capital; other unprohibited or unrestricted businesses beyond the permit Wealth management		Ownership (%)
			June30,2025 95.82% (Note4) 100% 100% 100% 100% - (Note2)	December31,2024 96.69% 100% 100% 100% 100% - (Note2)	June30,2024
The Company `″` `″` `″` `″` `″`	President Futures Corp. (President Futures) President Capital Management Corp. (President Capital Management) President Securities (HK) Ltd.(President Securities (HK)) (Note 1) President Insurance Agency Corp. (President Insurance Agency) PSC Venture Capital Investment Company Limited (President Venture Capital) President Wealth Management(HK) Ltd.(President Wealth Management (HK))				96.69% 100% 100% 100% 100% 100%

Note 1: Subsidiary President Securities (HK) Ltd. was approved by the Board of Directors in March 2022 to deal with the dissolution and liquidation matters, and the liquidation process is currently in progress.
Note 2: The dissolution and liquidation of President Wealth management (HK) was approved by the Board of Directors in March 2022, and the liquidation was completed in July 2024, so it no longer was included in the consolidated entity.
Note 3: President Securities (HK) Ltd. has completed the deregistration of securities trading-related licenses on March 27, 2024, and has no securities-related business activities.
Note 4: Subsidiary President Futures has completed a cash capital increase on March 25, 2025. The Company participated in the subscription in the amount of $453,706 based on its shareholding ratio. The Company's original investment amount increased from $644,650 to $1,098,356, and the shareholding ratio decreased from 96.69% to 95.82%.

4) Employee benefits

A. Except for the following explanation of interim standards, please refer to Note 4(22) of the consolidated financial statements for the year ended December 31, 2024.

~19~

B. Pension cost for the interim period is calculated on a year-to-date basis by using the pension cost rate derived from the actuarial valuation at the end of the period financial year, adjusted for significant market fluctuations since that time and for significant curtailments, settlements, or other significant one-off events. Also, the related information is disclosed accordingly.

5) Income tax

A.Except for the following explanation of interim standards, please refer to Note 4(24) of the consolidated financial statements for the year ended December 31, 2024.
B.The interim period income tax expense is recognized based on the estimated average annual effective income tax rate excepted for the full financial year applied to the pretax income of the interim period, and the related information is disclosed accordingly.

5. CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND KEY SOURCES OF

ASSUMPTION UNCERTAINTY

There were no significant changes as of June 30, 2025. Please refer to the explanation in Note

5 of the consolidated financial statements for the year ended December 31, 2024.

6. DETAILS OF SIGNIFICANT ACCOUNTS

1) Cash and cash equivalents

Petty cash Checking deposits Current deposits: Deposits denominated in NTD Deposits denominated in foreign currencies Time deposits Total	June 30, 2025 1,650 $ 650,731 1,496,854 1,446,306 4,657,002 8,252,543 $	December 31, 2024 150 $ 652,376 1,738,726 1,341,884 3,987,003 7,720,139 $	June 30, 2024
			1,650 $ 582,130 1,024,677 1,146,339 3,355,654
			6,110,450 $

As of June 30, 2025, December 31, 2024 and June 30, 2024, the annual interest rates of time deposits, including foreign time deposits were 0.680%~5.400%, 0.665%~5.250% and 0.565%~5.430% respectively.

~20~

2) Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss
June 30,2025 Current items: Financial assets mandatorily measured at fair value through profit or loss: Security lending Security lending - $ Adjustment of security lending - Total - Open-ended funds, money market instruments and securities investment by brokers Open-ended mutual funds beneficiary 300,053 Exchange-traded funds 152,548 Subtotal 452,601 Adjustment of open-ended funds, money market instruments and securities investment by brokers 14,330 Total 466,931 Trading securities-dealer Listed (TSE and OTC) stocks 3,526,493 Government bonds 401,033 Corporate bonds 5,113,407 Convertible corporate bonds 1,171,025 Emerging stocks 198,179 Overseas stocks 10,415,679 Exchange-traded funds 2,389,818 Unlisted stocks 168,943 Subtotal 23,384,577 Adjustment of trading securities - dealer 229,614 Total 23,614,191 Trading securities-underwriter Listed (TSE and OTC) stocks 84,204 Convertible corporate bonds 847,386 Subtotal 931,590 Adjustment of trading securities - underwriter 96,470 Total 1,028,060 Trading securities-hedging Listed (TSE and OTC) stocks 5,700,487 Corporate bonds 5,010,013 Convertible corporate bonds 12,805,307 Warrants 44,807 Overseas stocks 286,546 Exchange traded funds 16,372 Subtotal 23,863,532 Adjustment of trading securities - hedging 113,553) ( Total 23,749,979 Options bought-futures 4,138 Futures Margin-Own Funds 6,178,230 Derivative financial instrument assets-OTC 210,588 Total 55,252,117 $	December31,2024 26,015 $ 1,004) ( 25,011 352,740 116,807 469,547 3,393 472,940 8,767,530 99,972 3,613,718 1,421,755 245,565 7,919,695 5,272,039 168,945 27,509,219 477,428 27,986,647 67,610 783,244 850,854 152,654 1,003,508 8,605,280 4,350,000 14,190,274 38,420 438,295 25,222 27,647,491 31,959 27,679,450 747 4,176,721 60,058 61,405,082 $	June 30,2024
		306,662 $ 5,515
		312,177
		423,394 105,585
		528,979 27,081
		556,060
		14,360,706 49,875 2,506,273 1,948,552 247,585 8,614,680 3,999,077 183,343
		31,910,091 2,729,510
		34,639,601
		114,740 678,210
		792,950 269,902
		1,062,852
		11,696,554 3,090,000 9,568,011 15,866 402,377 7,511
		24,780,319 1,743,999
		26,524,318
		5,216
		4,822,159
		35,866
		67,958,249 $

~21~

Non-current items: Financial assets mandatorily measured at fair value through profit or loss: Trading securities - dealer - government bonds Unlisted stocks Others Subtotal Adjustment of trading securities Total	June30,2025 $ 49,903 435 50,000 100,338 16,149 116,487 $	December31,2024 $ 49,878 435 50,000 100,313 17,358 117,671 $	June30,2024
			$ 49,853 435 50,000
			100,288 17,102
			117,390 $

a. For the three months and six months ended June 30, 2025 and 2024, net realized and unrealized gains (losses) on financial assets and liabilities at fair value through profit or loss amounted to $230,294, $1,308,433, $26,986 and $3,234,824, respectively.
b. Details of the Group’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).

3) Financial assets at fair value through other comprehensive income

. Information relating to credit risk Financial assets at fair value through	is provided in Note 12(2). other comprehensive income
Current items: Equity instruments: Trading securities-dealer Listed (TSE and OTC) stocks Adjustment of trading securities - dealer Subtotal Debt instruments: Trading securities-dealer Overseas bonds Adjustment of trading securities - dealer Subtotal Total Non-current items: Equity instruments: Unlisted stocks Adjustment of trading securities Total	June 30,2025 December 31,2024 June 30,2024 1,126,104 $ 279,894 $ 189,812 $ 617,012 543,717 454,510 1,743,116 823,611 644,322 6,854,924 3,681,435 3,125,117 106,126 9,156) ( 57,527) ( 6,961,050 3,672,279 3,067,590 8,704,166 $ 4,495,890 $ 3,711,912 $ June 30,2025 December 31,2024 June 30,2024 37,565 $ 37,565 $ 37,565 $ 1,473,288 1,414,996 1,343,704 1,510,853 $ 1,452,561 $ 1,381,269 $	June 30,2024
		189,812 $ 454,510
		644,322
		3,067,590
		3,711,912 $
		June 30,2024
		37,565 $ 1,343,704
		1,381,269 $

a. The Group has elected to classify stocks investments that are considered to be strategic investments and consistently receiving dividends as financial assets at fair value through other comprehensive income. The fair value of such investments amounted to $3,253,969, $2,276,172 and $2,025,591 as at June 30, 2025, December 31, 2024 and June 30, 2024, respectively.

~22~

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:

Three months ended June30,2025	Three months ended June30,2024	Six months ended June30,2025	Six months ended June30,2024
184,768 $ 182) ( 184,586 $ 61,565 $ Three months ended June30,2025	287,124 $ 4,015 291,139 $ 2,335 $ Three months ended June30,2024	129,744 $ 1,842 131,586 $ 64,567 $ Six months ended June30,2025	456,869 $ 4,901 461,770 $ 4,669 $ Six months ended June30,2024
44,493 $ 67,966 $	13,268) ($ 30,195 $	124,155 $ 119,017 $	101,302) ($ 57,705 $

c. Details of the Group’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

Foreign bonds	June 30, 2025 148,610 $	December 31, 2024 - $	June 30, 2024
			20,803 $

The above bonds purchased under resale agreements as of June 30, 2025, December 31, 2024 and June 30, 2024 were due within one year and were contracted to be repurchased at the agree-upon price plus interest charge on the specific date after the transaction. The total repurchase amounts were $149,546, $0, and $20,984, respectively, and the annual interest rates in every currency were shown as follows:

Currency June 30,2025 Foreign currencies (Note) 1.78%~4.23% Note: Foreign currencies include EUR and USD.	December 31,2024 -	June 30,2024
		3.48%

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) Receivable of securities business money lending

ecurities lending receivable - the securities purchased or held by customers as collateral ecurities lending receivable- unrestricted purposes otal	June 30,2025 545,694 $ 18,363,753 18,909,447 $	December31,2024 62,596 $ 18,537,534 18,600,130 $	June 30,2024
			214,303 $ 18,360,069
			18,574,372 $

~23~

Note: The collateral maintenance ratio is to be calculated in accordance with regulations and shall not fall below 130%.

7) Customer margin account

and shall not fall below 130%. Customer margin account
Bank deposit Futures clearing house Other futures commission merchant Securities Total	June30,2025 29,525,561 $ 7,932,976 6,407,099 84 43,865,720 $	December31,2024 23,313,389 $ 5,315,769 6,916,025 357 35,545,540 $	June30,2024
			16,013,762 $ 5,477,065 2,129,369 457
			23,620,653 $

The difference between the customer margin deposits accounts and futures traders’ equity as of June 30, 2025, December 31, 2024 and June 30, 2024, were outlined below:

		June 30,2025	December 31,2024	December 31,2024			June 30,2024
Customer margin deposits accounts	$	43,865,720	$	35,545,540		$	23,620,653
Add: Early customer margin deposits		18,984		11,446			18,743
Less: Service fee income pending for transfer	(	17,729)	(	18,959)	(		20,155)
Futures exchange tax pending for transfer	(	1,044)	(	1,180)	(		2,295)
Temporary receipts	(	43,778)	(	14,473)	(		19,509)
Futures trader’s equity	$	43,822,153	$	35,522,374		$	23,597,437

8) Accounts receivable

Accounts receivable
			June 30,2025	December 31,2024				June 30,2024
Accounts receivable - related parties		$	1,383	$	944		$	1,545
Accounts receivable - non related parties
Settlement price receivable-brokers		$	17,425,888	$	14,492,455		$	19,471,715
Settlement price receivable-dealer			4,622,322		3,165,884			5,691,073
Settlement price receivable-foreign bonds			6,032,603		9,987,065			3,253,294
Settlement price receivable-unrestricted purposes			487,254		290			26,442
Settlement price receivable-sub-brokerage			201,142		27,815			77,108
Spot exchange receivable, foreign currencies			289,058		56,868			126,916
Interest receivable			796,652		821,069			505,938
Settlement price			1,200,536		625,228			2,676,060
Dividends receivable			206,391		42,637			156,698
Others			379,028		263,902			290,673
Subtotal			31,640,874		29,483,213			32,275,917
Less: Allowance for uncollectable accounts	(		594)	(	491)	(		338)
Total		$	31,640,280	$	29,482,722		$	32,275,579

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

		June 30,2025	June 30,2025
Up to 30 days	31 to 90 days	91 to 180 days	181 days to 12 months	More than 12 months	Total
905 $ 30,867,149 30,868,054 $	478 $ 149,331 149,809 $	- $ 101,239 101,239 $	- $ 263,894 263,894 $	- $ 259,261 259,261 $	1,383 $ 31,640,874
					31,642,257 $

~24~

		December	31,2024		Total
Up to 30 days	31 to 90 days	91 to 180 days	181 days to 12 months	More than 12 months
763 $ 28,682,701 28,683,464 $	181 $ 138,774 138,955 $	- $ - $ 143,370 381,924 143,370 $ 381,924 $ June 30,2024		- $ 136,444 136,444 $	944 $ 29,483,213 29,484,157 $ Total
Up to 30 days	31 to 90 days	91 to 180 days	181 days to 12 months	More than 12 months
917 $ 31,787,862 31,788,779 $	628 $ 127,434 128,062 $	- $ 119,603 119,603 $	- $ 153,016 153,016 $	- $ 88,002 88,002 $	1,545 $ 32,275,917 32,277,462 $

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

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

9) Other receivables

Other receivables
		June 30,2025	December	31,2024		June 30,2024
Interest receivable	$	88,248	$	81,387	$	59,325
Dividends receivable		3,110		-		219,394
Others		77,511		19,770		33,958
Subtotal		168,869		101,157		312,677
Less: Allowance for uncollectible accounts	(	275)	(	275)	(	275)
Total	$	168,594	$	100,882	$	312,402

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

10) Other current assets

Other current assets
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	June 30,2025 365,334 $ 500,000 5,977 15 2,818,648 35,306 3,725,280 $	December 31,2024 178,819 $ 500,000 44,257 383,532 1,973,140 90,939 3,170,687 $	June 30,2024
			292,757 $ 500,000 24,743 117,970 1,466,262 45,942
			2,447,674 $

11) Transfer of financial assets

A. During the Group’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 financial assets that will be repurchased at a fixed price in the future have been reflected. The Group may not use, sell or pledge the transferred financial assets

~25~

during the valid period of the transaction. The financial assets were not derecognized as the Group 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:

liabilities are analysed below:
	June30,2025	Carrying amount of related financial liabilities
Financial assets category Carrying amount of transferred financial assets Financial assets measured at fair value through profit or loss Repurchase agreement 17,583,818 $ Financial assets measured at fair value through other comprehensive income Repurchase agreement 6,961,050 December31,2024	Carrying amount of transferred financial assets
		16,818,066 $ 6,817,175 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
	16,421,349 $ June30,2024	15,589,881 $ Carrying amount of related financial liabilities
Financial assets category Financial assets measured at fair value through profit or loss Repurchase agreement Financial assets measured at fair value through other comprehensive income Repurchase agreement	Carrying amount of transferred financial assets
	12,535,554 $ 3,067,591	11,700,978 $ 3,046,711

12) Offsetting financial assets and financial liabilities

A. The Group 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.

~26~

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

(1)Financial assets

inancial assets
		June		30, 2025
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 142,012 $ - $ 146,148 - 288,160 $ - $ Not set off in the balance sheet	Net amount
						Financial instruments 142,012 $ 146,148 288,160 $
	210,588 $ 148,610 359,198 $						68,576 $ 2,462
							71,038 $

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 43,442 $ - $ Not set off in the balance sheet	Net amount
						Financial instruments 43,442 $
	60,058 $		- $ June	60,058 $ 30, 2024			16,616 $

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 3,074 $ - $ 20,301 - 23,375 $ - $ Not set off inthe balance sheet	Net amount
						Financial instruments 3,074 $ 20,301 23,375 $
	35,866 $ 20,803 56,669 $		- $ - - $		35,866 $ 20,803 56,669 $		32,792 $ 502
							33,294 $

~27~

(2) Financial liabilities

Financial liabilities
		June	30,2025
Derivative financial instruments Bonds sold under 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	Financial instruments Cash collateral received 142,012 $ - $ 16,614,640 - 16,756,652 $ - $ Not set off inthe balance sheet	Net amount
				Financial instruments
	142,012 $ 16,614,640 16,756,652 $			142,012 $ 16,614,640 16,756,652 $	- $ -
					- $

Derivative financial instruments Bonds sold under 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	Financial instruments Cash collateral received 43,442 $ - $ 12,017,016 - 12,060,458 $ - $ Not set off inthe balance sheet	Net amount
				Financial instruments
	43,442 $ 12,017,016 12,060,458 $		43,442 $ 12,017,016 12,060,458 $ 30, 2024	43,442 $ 12,017,016 12,060,458 $	- $ -
					- $

Derivative financial instruments Bonds sold under 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	Financial instruments Cash collateral received 3,074 $ - $ 12,297,175 - 12,300,249 $ - $ Not set off inthe balance sheet	Net amount
				Financial instruments 3,074 $ 12,297,175 12,300,249 $
	3,074 $ 12,297,175 12,300,249 $	- $ - - $	3,074 $ 12,297,175 12,300,249 $		- $ -
					- $

~28~

13) Investments accounted for under the equity method

Uni-President Asset Management Corp. Jin Yuan President Securities Co., Ltd.	June 30,2025 798,066 $ 2,370,754 3,168,820 $	December31,2024 970,159 $ 2,641,462 3,611,621 $	June 30,2024
			763,715 $ 2,618,792
			3,382,507 $

A. The Group’s share of its associates’ profits or losses recognized in long-term equity investment accounted for under the equity method for the three and six months ended June 30, 2025 and 2024 were $110,770, $62,688, $153,011 and $103,682, respectively.
B. The Group holds 42.49% 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 22 shareholders. Half of the voting rights of the shareholders attending the shareholders’ meeting exceeds the voting rights of the Group, and the Group does not take an active role in the management of the company. This shows that the Group has no actual ability to direct relevant activities. The Group has no control over Uni-President Asset Management Corp., but has significant influence over it.
C. The financial information of the Group’s principal associates is summarized as follows:
(a) The basic information of the associates that are material to the Group is as follows:

Companyname	Princial place of businesss		Shareholdingratio		Nature of relationship	Methods of measurement
Uni-President Asset Management Corp. Jin Yuan President Securities Co., Ltd.	Taipei city Xiamen	June 30,2025 42.49% 49%	December 31,2024 42.49% 49%	June 30,2024 42.49% 49%	Associate Associate	Equity method Equity method

(b) The summarized financial information of the associates that are material to the Group is as follows:

Balance sheet

Balance sheet
			Uni-President		Asset Management Corp.
			June 30,2025	December 31,2024		June	30,2024
Current assets		$	1,064,046	$	1,598,836	$	1,528,505
Non-current assets			957,305		942,434		900,283
Current liabilities	(		427,507)	(	531,046)	(	979,169)
Non-current liabilities	(		138,354)	(	149,789)	(	74,967)
Total net assets		$	1,455,490	$	1,860,435	$	1,374,652
Share in associate's net assets		$	618,544	$	790,637	$	584,193
Goodwill and others			179,522		179,522		179,522
Carrying amount of the associate		$	798,066	$	970,159	$	763,715

~29~

Balance sheet

Balance sheet
Current assets Non-current assets Current liabilities Non-current liabilities Total net assets Share in associate's net assets Carrying amount of the associate		Jin Yuan	President Securities Co.,Ltd.
	June 30,2025 December31,2024 June 30,2024 7,323,239 $ 6,228,068 $ 7,024,441 $ 733,118 227,432 238,410 3,150,700) ( 1,022,718) ( 1,872,512) ( 67,388) ( 42,046) ( 45,864) ( 4,838,269 $ 5,390,736 $ 5,344,475 $ 2,370,754 $ 2,641,462 $ 2,618,792 $ 2,370,754 $ 2,641,462 $ 2,618,792 $

Statement of comprehensive income

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)		Six months ended June 30,2025 Six months ended June 30,2024 1,271,479 $ 1,091,354 $ 466,994 $ 403,427 $ 10,124 34,013 477,118 $ 437,440 $ 374,855 $ 219,394 $ Uni-President Asset Management Corp. Jin Yuan President Securities Co.,Ltd.
		Six months ended June 30,2025
		1,271,479 $ 466,994 $ 10,124 477,118 $ 374,855 $ Jin Yuan President	1,091,354 $ 403,427 $ 34,013 437,440 $ 219,394 $ Securities Co.,Ltd.
		Six months ended June 30,2025		Six months ended June 30,2024
	250,985 $ 92,754) ($ 92,754) ($		183,235 $ 138,296) ($ 138,296) ($

(Blank below)

~30~

14) Property and equipment

Property and equipment
January1		Six months ended June 30,2025					Total
	Land	Buildings		Equipment	Leasehold improvements
Cost Accumulated depreciation and impairment Total January 1 Additions Disposal Reclassifications Depreciation June 30 June 30	1,738,051 $ - 1,738,051 $ 1,738,051 $ - - - - 1,738,051 $ Land	1,182,575 $ 591,743) ( 590,832 $ 590,832 $ 1,443 - 12,025 22,562) ( 581,738 $ Buildings		615,696 $ 330,286) ( 285,410 $ 285,410 $ 33,203 1) ( 9,176 67,467) ( 260,321 $ Equipment	46,574 $ 19,298) ( 27,276 $ 27,276 $ - - 13,010 3,988) ( 36,298 $ Leasehold improvements		3,582,896 $ 941,327) ( 2,641,569 $ 2,641,569 $ 34,646 1) ( 34,211 94,017) ( 2,616,408 $ Total
Cost Accumulated depreciation and impairment Total January1	1,738,051 $ - 1,738,051 $						3,631,235 $ 1,014,827) ( 2,616,408 $ Total
	Land		Buildings	Equipment		Leasehold improvements
Cost Accumulated depreciation and impairment Total January 1 Additions Disposal Reclassifications Depreciation June 30 June 30	1,738,051 $ - 1,738,051 $ 1,738,051 $ - - - - 1,738,051 $ Land	1,176,715 $ 571,899) ( 604,816 $ 604,816 $ 778 - 2,660 21,180) ( 587,074 $ Buildings		564,286 $ 274,664) ( 289,622 $ 289,622 $ 36,397 35) ( 18,796 61,080) ( 283,700 $ Equipment	34,050 $ 21,462) ( 12,588 $ 12,588 $ 1,143 - 2,610 2,727) ( 13,614 $ Leasehold improvements		3,513,102 $ 868,025) ( 2,645,077 $ 2,645,077 $ 38,318 35) ( 24,066 84,987) ( 2,622,439 $ Total
Cost Accumulated depreciation and impairment Total	1,738,051 $ - 1,738,051 $	1,178,063 $ 590,989) ( 587,074 $		587,719 $ 304,019) ( 283,700 $	37,803 $ 24,189) ( 13,614 $		3,541,636 $ 919,197) ( 2,622,439 $

A. No interest was capitalized for property and equipment for the six months ended June 30, 2025 and 2024.

B. The information on property and equipment pledged or restricted as of June 30, 2025, December 31, 2024 and June 30, 2024 is described in Note 8.

~31~

`－` 15) Leasing arrangements lessee

A. The Group 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 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		Three months ended June30,2025		June 30,2025 CarryingAmount 220,989 $ 16,775 967 238,731 $ Three months ended June30,2024		December 31,2024 CarryingAmount 202,162 $ 18,077 2,438 222,677 $ Six months ended June30,2025		June 30,2024 CarryingAmount 143,984 $ 12,491 3,898 160,373 $ Six months ended June30,2024
		Depreciation charge		Depreciation charge		Depreciation charge		Depreciation charge
		19,834 $ 1,368 732 21,934 $		18,351 $ 1,536 733 20,620 $		38,856 $ 2,735 1,471 43,062 $		34,836 $ 3,213 1,463 39,512 $

C. For the six months ended June 30, 2025 and 2024, the additions to right-of-use assets amounted to $59,201 and $69,294, respectively.
D. The information on income and expense accounts relating to lease contracts is as follows:

Items affecting profit or loss	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
Interest expense on lease liabilities Expense on short-term lease contracts Expense on variable lease payment	872 $ 1,132 36	458 $ 1,223 30	1,693 $ 2,492 54	787 $ 2,499 51

E. For the six months ended June 30, 2025 and 2024, the Group’s total cash outflow for leases amounted to $45,455 and $40,804, respectively.

16) Leasing arrangements – lessor

A. The Group leases various assets including office and parking space. Rental contracts are typically made for periods of 1 and 5 years. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions.
B. For the six months ended June 30, 2025 and 2024, the Group recognized rent income in the amount of $5,824 and $6,020, respectively, based on the operating lease agreement, which does not include variable lease payments.

~32~

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

2024 2025 2026 2027 2028 2029 2030 Total	June 30,2025 - $ 5,519 11,039 10,497 7,323 688 688 35,754 $	December31,2024 - $ 11,269 10,956 10,414 7,240 641 - 40,520 $	June 30,2024
			6,104 $ 10,628 10,315 9,773 6,599 - -
			43,419 $

17) Investment property

January1
Cost
Accumulated depreciation and impairment
Total
January 1
Depreciation
June 30
June 30
Cost
Accumulated depreciation and impairment
Total
January1
Cost
Accumulated depreciation and impairment
Total
January 1
Depreciation
June 30
June 30
Cost
Accumulated depreciation and impairment
Total

Land
Buildings
Total
140,176
$ 72,533
$ 212,709
$ -
29,978)
(
29,978)
(
140,176
$ 42,555
$ 182,731
$ 140,176
$ 42,555
$ 182,731
$ -
712)
(
712)
(
140,176
$ 41,843
$ 182,019
$ Land
Buildings
Total
140,176
$ 72,533
$ 212,709
$ -
30,690)
(
30,690)
(
140,176
$ 41,843
$ 182,019
$ Land
Buildings
Total
140,176
$ 72,533
$ 212,709
$ -
28,556)
(
28,556)
(
140,176
$ 43,977
$ 184,153
$ 140,176
$ 43,977
$ 184,153
$ -
711)
(
711)
(
140,176
$ 43,266
$ 183,442
$ Land
Buildings
Total
140,176
$ 72,533
$ 212,709
$ -
29,267)
(
29,267)
(
140,176
$ 43,266
$ 183,442
$ Six months ended June 30,2025
Six months ended June 30, 2024

A. For the three months and six months ended June 30, 2025 and 2024, rental income from the lease of the investment property were $2,245, $2,558, $4,803 and $5,024, respectively, and direct operating expenses arising from the investment property were $652, $616, $1,289 and $1,260, respectively.

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

~33~

18) Intangible assets

January1	Six months ended June 30,2025	Six months ended June 30,2025	Six months ended June 30,2025	Six months ended June 30,2025
	Computer software		Goodwill
Cost Accumulated amortization and impairment Total January 1 Additions Reclassifications Amortization June 30 June 30	531,123 $ 318,176) ( 212,947 $ 212,947 $ 11,232 29,252 54,667) ( 198,764 $ Computer software		42,004 $ - 42,004 $ 42,004 $ - - - 42,004 $ Goodwill
Cost Accumulated amortization and impairment Total January1
		Computer sofware	Goodwill	Customer relationships and others Total 89,929 $ 604,169 $ 54,236) ( 311,732) ( 35,693 $ 292,437 $ 35,693 $ 292,437 $ - 15,162 - 34,588 9) ( 48,900) ( 35,684 $ 293,287 $ Customer relationships and others Total 89,929 $ 630,818 $ 54,245) ( 337,531) ( 35,684 $ 293,287 $
Cost Accumulated amortization and impairment Total January 1 Additions Reclassifications Amortization June 30 June30	472,236 $ 257,496) ( 214,740 $ 214,740 $ 15,162 34,588 48,891) ( 215,599 $ Computer software		42,004 $ - 42,004 $ 42,004 $ - - - 42,004 $ Goodwill
Cost Accumulated amortization and impairment Total	498,885 $ 283,286) ( 215,599 $		42,004 $ - 42,004 $

~34~

A. No interest was capitalized for intangible assets for the six months ended June 30, 2025 and 2024.

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 Group’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:

Growth rate Discount rate	BrokerageSegment 2024 0.00% 12.10%

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.

19) Other non-current assets

Other non-current assets
			June30,2025	December31,2024			June30,2024
Operation guaranteed deposits		$	640,000	$	640,000	$	640,000
Clearing and settlement fund			341,742		315,445		324,680
Refundable deposits			747,959		502,231		421,827
Prepaid pension expenses			9,414		9,064		4,207
Prepayment for equipment			80,703		66,420		58,220
Overdue receivables			5,219		6,004		3,611
Others			2,751		2,756		2,514
Subtotal			1,827,788		1,541,920		1,455,059
Less: Allowance for uncollectible
accounts	(		5,219)	(	6,004)	(	3,611)
Total		$	1,822,569	$	1,535,916	$	1,451,448

20) Short-term loans

Unsecured loans Secured loans Call loans from banks Total	June 30, 2025 2,497,880 $ 110,000 - 2,607,880 $	December 31, 2024 8,545,865 $ 160,000 98,355 8,804,220 $	June 30, 2024
			11,773,070 $ 770,000 292,050
			12,835,120 $

As of June 30, 2025, December 31, 2024 and June 30, 2024, the interest rates of short-term loans, including foreign interest rates were 1.875%~4.890%, 1.870%~5.250% and 1.775%~5.770%, respectively.

~35~

21) Commercial papers payable

Face value Less: Discount on commercial papers payable Total	June 30, 2025 13,100,000 $ 6,593) ( 13,093,407 $	December 31, 2024 33,010,000 $ 40,185) ( 32,969,815 $	June 30, 2024 32,850,000 $ 41,013) ( 32,808,987 $

As of June 30, 2025, December 31, 2024 and June 30, 2024, the interest rates of commercial papers, including foreign interest rates were 1.440%~2.003%, 1.682%~2.022% and 1.680%~2.030%, respectively.

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

			June 30, 2025	December 31, 2024	December 31, 2024			June 30, 2024
Investments in bonds under resale
agreements - short sales		$	280,000	$	-		$	94,720
Valuation adjustment of financial assets held for
trading			80		-	(		609)
Subtotal			280,080		-			94,111
Liabilities on sale of borrowed securities
- hedged			1,841,042		793,826			1,369,174
Valuation adjustment on liabilities on sale
of borrowed securities - hedged	(		83,259)		49,671			55,545
Liabilities on sale of borrowed securities
- non-hedged			13,681,181		6,404,740			4,843,449
Valuation adjustment on liabilities on sale
of borrowed securities - non-hedged			331,257		217,500			492,112
Subtotal			15,770,221		7,465,737			6,760,280
Issuance of call (put) warrants			19,928,478		18,904,723			16,932,746
Loss (gain) on price fluctuation	(		6,868,601)	(	6,344,768)	(		988,695)
Market value (A)			13,059,877		12,559,955			15,944,051
Warrants redeemed	(		17,164,794)	(	16,132,320)	(		14,850,241)
Loss (gain) on price fluctuation			4,956,862		4,952,966			1,258,164
Market value (B)	(		12,207,932)	(	11,179,354)	(		13,592,077)
Warrants - net (A+B)			851,945		1,380,601			2,351,974
Options sold - TAIFEX			2,994		1,144			4,681
Outstanding Liability for Issuance of ETNs			262,479		306,853			357,978
Valuation adjustment on outstanding
Liability for Issuance of ETNs			63,696		69,293			112,869
Subtotal			326,175		376,146			470,847
Derivative financial liabilities - OTC			5,051,544		4,312,910			4,422,592
Total		$	22,282,959	$	13,536,538		$	14,104,485

Among the warrants issued by the Group, 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 issuer has the option to settle either by cash or stock delivery.

~36~

23) Bonds sold under repurchase agreements

Bonds sold under repurchase agreements
Government bonds Corporate bonds Bank debentures International bonds Foreign bonds Total	June 30, 2025 490,285 $ 6,449,676 100,938 3,007,597 13,586,745 23,635,241 $	December 31, 2024 104,131 $ 3,219,329 100,235 1,713,508 10,452,678 15,589,881 $	June 30, 2024
			50,000 $ 4,917,641 100,000 646,694 9,033,354
			14,747,689 $

The above bonds sold under repurchase agreements as of June 30, 2025, December 31, 2024 and June 30, 2024 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 $23,821,200, $15,730,764 and $14,876,694, respectively, and the annual interest rates in every currency were shown as follows:

urrency were shown as follows:
Currency NTD Foreign currencies (Note)	June30,2025 1.12%~1.70% 0.50%~4.65%	December31,2024 1.14%~1.63% 1.75%~4.95%	June30,2024
			1.14%~1.56% 3.75%~5.75%

Note: Foreign currencies include AUD, EUR, USD, GBP, JPY and SGD.

24) Accounts payable

Accounts payable
Settlement accounts payable - brokered trading Settlement proceeds Settlement accounts payable - operating Settlement accounts payable - foreign bonds Spot exchange payable, foreign currencies Others Total	June30,2025 16,634,597 $ 1,812,222 3,288,737 7,334,582 288,708 732,463 30,091,309 $	December31,2024 12,373,337 $ 2,727,528 1,940,061 9,983,714 56,794 394,149 27,475,583 $	June30,2024
			21,168,360 $ 1,093,439 4,957,769 4,088,332 126,907 584,849
			32,019,656 $

25) Other payables

Salary and bonus payable Employees' and directors' remuneration payable Dividends payable Others Total	June 30,2025 1,046,038 $ 259,159 1,613,596 771,975 3,690,768 $	December31,2024 1,915,817 $ 223,772 - 719,265 2,858,854 $	June 30,2024
			1,516,294 $ 284,691 1,929,315 752,828
			4,483,128 $

26) Other financial liabilities - current

Other financial liabilities-current
Principal guaranteed notes (PGN) - fixed income	June 30, 2025 14,824,324 $	December 31, 2024 13,801,583 $	June 30, 2024
			12,736,224 $

The Group 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 Guaranteed Notes). On trade date, the contracted amounts are collected in full from the counterparties.

~37~

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).

27) Other liabilities - non-current

Other liabilities-non-current
Guarantee deposits received Net defined benefit obligation Total	June 30,2025 12,239 $ 12,012 24,251 $	December31,2024 9,042 $ 29,177 38,219 $	June 30,2024
			5,596 $ 40,436
			46,032 $

28) Pension plan

A. Defined benefit plans
(A)The Group 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 Group contributes monthly an amount which ranges between 2.0% and 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 Group 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 Group will make contributions to cover the deficit by next March.
(B) Under the defined benefit pension plan, the Group recognized the pension costs for the three months and six months ended June 30, 2025 and 2024 in the statement of comprehensive income in the amounts of $409, $564, $818 and $1,128, respectively.
(C) Expected contributions to the defined benefit pension plans of the Group for the year ending December 31, 2026 amount to $33,956.
B. Defined contribution plans
Effective from July 1, 2005, the Group 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

~38~

employees can choose to receive such pension benefits monthly or in lump sum. The pension costs under defined contribution pension plans of the Group for the three months and six months ended June 30, 2025 and 2024 were $23,870, $22,585, $48,709 and $44,075, respectively.

C. President Securities (HK) and President Wealth Management (HK) have defined benefit pension plans in accordance with local laws, and recognized the current pension expenses by contributing to the accrued pension assets. President Securities (HK) recognized pension expenses of $18, $5,427, $37 and $9,005, respectively, for the three months and six months ended June 30, 2025 and 2024.

29) Equity/Subsequent Events

A. Common stock

On January 1, 2024, the Company’s authorized capital was $15,000,000. It was amended to $18,000,000 at the stockholders’ meeting on May 28, 2025, with a par value of $10 (in dollars) per share. As of June 30, 2025, December 31, 2024 and June 30, 2024, the common stocks issued and the outstanding common stocks were all 1,455,831 thousand shares.

The Board of Directors approved on February 26, 2025 and the stockholders at the stockholders’ meeting resolved on May 28, 2025 to increase the Company’s capital with an unappropriated earnings of $1,455,831, and issue 145,583 thousand ordinary shares with a par value of $10 (in dollars) per share. The record date of the capital increase is July 14, 2025, the total common stock issued after the capital increase was $16,014,144, divided into 1,601,414 thousand shares, each with a par value of $10 (in dollars) per share.

B. Capital reserve

June 30, 2025 December 31, 2024 June 30, 2024		Sharepremium		Treasury share transactions		Expired stock options		Total
		22,805 $ 25,103 $ 25,103 $		65,675 $ 65,675 $ 65,675 $		483 $ 483 $ 483 $		88,963 $ 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

~39~

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
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 arrangement 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.

30) 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.

~40~

D. The earnings distribution for 2024 and 2023 as resolved by the stockholders’ meeting on May 28, 2025 and June 27, 2024, respectively, are as follows:

Provision of legal reserve Provision of special reserve Cash dividends Stock dividends		Year ended December 31,2024	Year ended December 31,2024		Year ended December 31,2023	Year ended December 31,2023
		Amount	Dividends per share (in dollars)		Amount	Dividends per share (in dollars) 1.32 $ -
		437,415 $ 874,830 1,601,414 1,455,831 4,369,490 $	1.10 $ 1.00		274,762 $ 549,522 1,921,697 - 2,745,981 $

31) Brokerage handling fee revenue

Revenues from brokered trading - TWSE Revenues from brokered trading - OTC Revenues from brokered trading - Futures Sub-brokerage fee income Others Total	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	527,543 $ 162,578 178,145 79,815 3,060 951,141 $	756,127 $ 221,834 215,245 67,524 3,823 1,264,553 $	1,041,312 $ 330,860 349,619 160,674 6,029 1,888,494 $	1,371,341 $ 425,938 394,860 134,136 6,973 2,333,248 $

32) Revenues from underwriting business

Revenues from underwriting business
Revenues from underwriting securities on a firm commitment basis Others Total	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	18,207 $ 23,059 41,266 $	15,695 $ 16,648 32,343 $	27,793 $ 33,736 61,529 $	28,092 $ 36,217 64,309 $

33) Net gain (loss) on sale of operating securities

Dealers: -TAIEX -OTC -Overseas trading Subtotal Underwriters: -TAIEX -OTC Subtotal Hedging: -TAIEX -OTC -Overseas trading Subtotal Total	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	629,901) ($ 297,468) ( 36,837) ( 964,206) ( 235) ( 1,685) ( 1,920) ( 407,134) ( 134,302) ( 41,823) ( 583,259) ( 1,549,385) ($	1,307,987 $ 116,796 64,190 1,488,973 19,110 14,078 33,188 1,459,360 329,093 18,626 1,807,079 3,329,240 $	572,156) ($ 337,060) ( 126,533) ( 1,035,749) ( 3,186 14,213 17,399 ( 713,791) 194,530) ( 9,248) ( 917,569) ( 1,935,919) ($	2,339,994 $ 515,769 360,500 3,216,263 25,031 48,579 73,610 2,077,328 541,889 28,565 2,647,782 5,937,655 $

~41~

34) Interest income

Interest income
Interest income from margin loans Interest income from bonds Others Total	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	191,303 $ 255,907 122,716 569,926 $	253,972 $ 155,462 88,904 498,338 $	453,666 $ 505,404 250,073 1,209,143 $	478,598 $ 369,569 152,132 1,000,299 $

35) Net valuation gain (loss) on operating 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	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	890,532 $ 19,886) ( 832,078 1,702,724 $	1,190,539 $ 62,749 408,182 1,661,470 $	65,746) ($ 56,184) ( 145,513) ( 267,443) ($	1,955,829 $ 94,661 1,216,047 3,266,537 $

36) 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	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	2,642) ($ 152,672) ( 5,551 149,763) ($	98 $ 312,303) ( 15,524 296,681) ($	8,625) ($ 191,209) ( 2,532) ( 202,366) ($	98 $ 609,968) ( 12,913) ( 622,783) ($

37) Net valuation gain (loss) on borrowed securities and bonds with resale agreements-short sales at

fair value through profit or loss

Valuation gain (loss) from securities borrowing transactions Valuation gain (loss) from covering Valuation gain (loss) from the bond investments under resale agreements Total	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	382,705) ($ 76,586) ( 2,094) ( 461,385) ($	84,671 $ 59,239) ( 585 26,017 $	32,298) ($ 51,471 2,824) ( 16,349 $	101,733) ($ 29,507) ( 585 130,655) ($

38) Net realized gain (loss) on financial liabilities measured at fair value through other comprehensive

income Foreign bonds	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	42,489 $	- $	42,489 $	- $

39) Net gain (loss) from issuance of call (put) warrants

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	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	78,892 $ 66,180) ( 78,756) ( 66,044) ($	219,952) ($ 98,469) ( 108,777) ( 427,198) ($	965,414 $ 129,646) ( 247,300) ( 588,468 $	458,664) ($ 138,905) ( 301,085) ( 898,654) ($

~42~

40) Net gain (loss) from derivatives

Futures contract gain (loss) Option trading gain (loss) OTC option trading gain (loss) Net gain (loss) on foreign exchange derivatives Asset SWAP Others Total	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	1,124,561 $ 13,896) ( 290,590) ( 48,570) ( 81,033 72,993) ( 779,545 $	1,915,257) ($ 41,415) ( 498,499) ( 60,469 392,133) ( 82,151) ( 2,868,986) ($	1,617,442 $ 32,562 65,263) ( 46,951) ( 458,943 160,378) ( 1,836,355 $	2,822,721) ($ 27,431) ( 828,152) ( 147,939 567,657) ( 120,742) ( 4,218,764) ($

41) Expected credit impairment loss and reversal of impairment gain

Impairment (loss) and reversal of impairment gain Recovery of bad debts Total	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	2,609 $ 40 2,649 $	4,614) ($ 234 4,380) ($	18,969 $ 179 19,148 $	17,417 $ 412 17,829 $

42) Other operating income

Other operating income
Income from securities lending Net currency exchange gain (loss) Handling fee revenues from funds Commission income from Insurance Agency Others Total	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	90,610 $ 19,200) ( 26,273 68,297 22,370 188,350 $	115,248 $ 4,648 25,453 45,111 40,962 231,422 $	210,121 $ 89,030) ( 53,947 140,773 33,523 349,334 $	192,815 $ 133,281 49,030 93,633 53,960 522,719 $

43) Handling charges

Handling charges
Financial costs Employee benefits expense 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	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	109,408 $ 38,670 335 148,413 $ Three months ended June 30,2025	145,696 $ 57,205 636 203,537 $ Three months ended June 30,2024	214,094 $ 95,374 878 310,346 $ Six months ended June 30,2025	267,606 $ 106,140 737 374,483 $ Six months ended June 30,2024
	191,494 $ 106,614 113,819 411,927 $ Three months ended June 30,2025	135,458 $ 196,448 48,671 380,577 $ Three months ended June 30,2024	364,122 $ 315,321 154,668 834,111 $ Six months ended June 30,2025	319,699 $ 338,549 81,379 739,627 $ Six months ended June 30,2024
	661,830 $ 43,647 24,297 41,607 771,381 $	923,179 $ 41,381 28,576 41,242 1,034,378 $	1,240,999 $ 112,921 49,564 91,381 1,494,865 $	2,011,732 $ 96,513 54,208 78,302 2,240,755 $

44) Financial costs

45) Employee benefits expense

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

~43~

remuneration, if any, shall appropriate an employees’ compensation no less than 1.6%, with no less than 1% designated for rank-and-file employees 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 three months and six months ended June 30, 2025 and 2024, employees’ compensation was accrued at $13,748, $30,502, $13,929 and $68,325, respectively; directors’ remuneration was accrued at $13,748, $30,502, $13,929 and $68,325, respectively. The aforementioned amounts were recognized in salary expenses.
C. For the six months ended June 30, 2025, 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 2024 as resolved by the Board of Directors was in agreement with the estimates in the 2024 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.

46) Depreciation and amortization

website. Depreciation and amortization
Depreciation Amortization Total	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	69,781 $ 27,318 97,099 $	64,001 $ 24,787 88,788 $	137,791 $ 54,679 192,470 $	125,210 $ 48,907 174,117 $

47) Other operating expenses

Other operating expenses
Taxes Security lending expenses Computer information expenses TDCC service fee Others Total	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	212,198 $ 56,654 66,752 27,237 199,148 561,989 $	297,907 $ 66,568 62,355 36,725 158,969 622,524 $	432,222 $ 120,846 129,111 52,531 356,097 1,090,807 $	554,807 $ 111,963 117,773 66,931 296,199 1,147,673 $

48) Other gains and losses

Financial income Revenue from facility and equipment usage fee Net gain (loss) on disposal of investments Net gain (loss) on valuation of non-operating financial instruments Net currency exchange gain (loss) Other non-operating revenues (expenses) Total	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	270,136 $ 16,308 1,912 5,184 21,302) ( 54,312 326,550 $	175,887 $ 16,979 8,250 1,246) ( 929 27,166 227,965 $	498,790 $ 32,599 2,088 10,934 15,968) ( 69,230 597,673 $	327,677 $ 32,995 18,808 7,267 7,239 44,457 438,443 $

~44~

49) Income tax

A. Income tax expense

Components of income tax expense:

ome tax ncome tax expense omponents of income tax expense:
Current tax: Current tax on profits for the periods Prior year income tax underestimation (overestimation) Tax on undistributed surplus earnings Total current tax Deferred taxes: Origination and reversal of temporary differences Impact of change in tax rate Total deferred taxes Income tax expense (gain)	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	61,890 $ 9,279) ( 233 52,844 55,586 - 55,586 108,430 $	163,474 $ 15,350) ( 81 148,205 1,726 - 1,726 149,931 $	179,652 $ 9,279) ( 233 170,606 51,203 - 51,203 221,809 $	238,044 $ 13,233) ( 81 224,892 40,777 - 40,777 265,669 $

B. As of June 30, 2025, the Company’s income tax returns have been approved by the Tax Authority until 2022, except for 2020 and 2021. The income tax returns through 2023 of all subsidiaries have been assessed, except for President Futures’ assessment until 2022.
C. With respect to the income tax returns of the Company for 2019, the Tax Authority assessed to increase income tax payable by $2,222. The Company disagreed with the assessment and had filed for administrative remedy and had recognized the income tax expense based on the assessment.

50) Earnings per share

assessment. Earnings per share
Basic earnings per share Net income attributable to common shareholders Dilutive effect of common stock equivalents Employee bonus	Amount after tax Weighted-average outstanding common shares(In thousands) Earnings per share (In dollars) 587,786 $ 1,601,414 0.37 $ - 672 587,786 $ 1,602,086 0.37 $ Threemonths ended June 30,2025
	Amount after tax	Weighted-average outstanding common shares(In thousands)
	587,786 $ - 587,786 $	1,601,414 672 1,602,086	0.37 $ 0.37 $

Basic earnings per share Net income attributable to common shareholders Dilutive effect of common stock equivalents Employee bonus		Six	Six	months ended June 30,	months ended June 30,	Earnings per share (In dollars) 2025
		Amount after tax		Weighted-average outstanding common shares(In thousands)
		520,549 $ - 520,549 $		1,601,414 680 1,602,094		0.33 $ 0.32 $

~45~

Amount after tax Weighted-average outstanding common shares(In thousands) Earnings per share (In dollars) 1,343,991 $ 1,601,414 0.84 $ - 861 1,343,991 $ 1,602,275 0.84 $ Amount after tax Weighted-average outstanding common shares(In thousands) Earnings per share (In dollars) 3,069,644 $ 1,601,414 1.92 $ - 2,552 3,069,644 $ 1,603,966 1.91 $ Threemonths ended June 30,2024 Six months ended June 30,2024	Amount after tax Weighted-average outstanding common shares(In thousands) Earnings per share (In dollars) 1,343,991 $ 1,601,414 0.84 $ - 861 1,343,991 $ 1,602,275 0.84 $ Amount after tax Weighted-average outstanding common shares(In thousands) Earnings per share (In dollars) 3,069,644 $ 1,601,414 1.92 $ - 2,552 3,069,644 $ 1,603,966 1.91 $ Threemonths ended June 30,2024 Six months ended June 30,2024	Amount after tax Weighted-average outstanding common shares(In thousands) Earnings per share (In dollars) 1,343,991 $ 1,601,414 0.84 $ - 861 1,343,991 $ 1,602,275 0.84 $ Amount after tax Weighted-average outstanding common shares(In thousands) Earnings per share (In dollars) 3,069,644 $ 1,601,414 1.92 $ - 2,552 3,069,644 $ 1,603,966 1.91 $ Threemonths ended June 30,2024 Six months ended June 30,2024
Amount after tax	Weighted-average outstanding common shares(In thousands)
		0.84 $ 0.84 $ Earnings per share (In dollars) 2024
Amount after tax	Weighted-average outstanding common shares(In thousands)
3,069,644 $ - 3,069,644 $	1,601,414 2,552 1,603,966	1.92 $ 1.91 $

The above-mentioned weighted average number of outstanding shares has been adjusted based on the proportion of capital increase on July 14, 2025, and the earnings per share for the three months and six months ended June 30, 2024 have been recalculated.

7. RELATED PARTY TRANSACTIONS

1) Names and relationships of related parties

Names and relationships of related parties

Names of relatedparties

Relationshipwith the Company

Uni-President Enterprises Corp.
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)
Presco Netmarketing, Inc.
President Professional Baseball Team Co., Ltd.
President Information Corp.
Q-WARE Systems & Services Corp.
Tung Ho Development Co., Ltd.
Fund managed by Uni-President Asset
Management Corp.

Entity having significant influence on the Company
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
Security investment trust fund raised by the
Uni-President Assets Management Corp.

~46~

2) Significant related party transactions and balances

A. Accounts receivable

A.Accounts receivable
			June 30,2025	December 31,2024				June 30,2024
Entity having significant influence on
the Company:
Uni-President Enterprises Corp.	$		332		$	318	$	334
Associate:
Uni-President Assets Management Corp.			-			-		110
Other related party:
ScinoPharm Taiwan, Ltd.			366			322		375
Ton Yi Industrial Corp.			101			-		100
President Chain Store Corp. (PCSC)			502			231		504
Others			82			73		122
Total	$		1,383		$	944	$	1,545
B.Prepayments
		June 30,2025		December 31,2024			June 30,2024
Other related party:
Q-WARE Systems & Services Corp.	$		4,071	$		4,682	$	5,096
Tung Ho Development Co., Ltd.			600			600		600
President Chain Store Corp. (PCSC)			158			158		158
Presco Netmarketing, Inc.			121			121		121
President Information Corp.			100			300		-
Others			37			26		26
Total	$		5,087	$		5,887	$	6,001
C.Other receivables
		June 30,2025		December31,2024			June 30,2024
Associate:
Uni-President Assets Management Corp.	$		18	$		76	$	219,288
Other related party:
Others			-			18		18
Total	$		18	$		94	$	219,306
D.Guarantee deposit received
		June 30,2025		December31,2024			June 30,2024
Associate:
Uni-President Assets Management Corp.	$		1,497	$		1,497	$	1,497

~47~

E. Accounts payable

Accounts payable
Other related party: President Tokyo Co., Ltd. Presco Netmarketing, Inc. President Information Corp. Total	June 30,2025 December 31,2024 2 $ 4 $ 95 143 - 400 97 $ 547 $	June 30,2024
		49 $ 154 -
		203 $

－ F. Lease transactions lessee

(A)The Group leases business vehicles and multifunction printers, etc., from President Tokyo Co., Ltd., etc. Rental contracts periods are typically 1 to 5 years. Rents are paid monthly.
(B) Right-of-use assets
a. Acquisition of right-of-use assets

Right-of-use assets a. Acquisition of right-of-use assets
b. Disposal of right-of-use assets Lease liabilities a. Lease liabilities - current b. Lease liabilities - non-current Other related party: President Tokyo Co., Ltd. Other related party: President Tokyo Co., Ltd. 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	June 30,	Six months ended June 30, 2025	Six months ended June 30, 2024
		1,454 $ Six months ended June 30, 2025	2,040 $ Six months ended June 30, 2024
				3,561 June 30,2024
	$			6,468 $ 749
	$			7,217 $
				June 30,2024
				7,705 $ 1,070
				8,775 $

~48~

c. Financial costs

Net gain from lease modifications Three months ended June 30, 2025 Other related party: President Tokyo Co., Ltd. 54 $ President Tokyo Auto Leasing Co., Ltd. 2 Total 56 $ Three months ended June 30,2025 Other related party: President Tokyo Co., Ltd. - $	Three months ended June 30, 2025	Three months ended June 30, 2024	Six months ended June 30, 2025	Six months ended June 30, 2024
		39 $ 3 42 $ Three months ended June 30,2024	114 $ 4 118 $ Six months ended June 30,2025	82 $ 6 88 $ Six months ended June 30,2024
	- $	12 $	- $	12 $

d. Net gain from lease modifications

G. Handling fee revenue

Security investment trust fund raised by the Uni-President Asset Management Corp.: Fund managed by Uni-President Asset Management Corp. Other related party: Others Total	Three months ended June 30, 2025	Three months ended June 30, 2024	Six months ended June 30, 2025	Six months ended June 30, 2024
	51,491 $ 989 52,480 $	58,139 $ 339 58,478 $	98,406 $ 1,242 99,648 $	114,340 $ 872 115,212 $

Terms of handling fee revenue mentioned above are similar to those of transactions with third parties.

H. Net gain on wealth management - trust income from sales of funds

Associates: Uni-President Assets Management Corp.	Three months ended June 30, 2025	Three months ended June 30, 2024	Six months ended June 30, 2025
	7,748 $	7,043 $	15,339 $

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

I. Other operating revenue - others

Other operating revenue-others
Other operating revenue-handling fee revenues from Three months ended June 30, 2025 Associates: Uni-President Assets Management Corp. 600 $	Three months ended June 30, 2025	Three months ended June 30, 2024	Six months ended June 30, 2025	Six months ended June 30, 2024 1,880 $ Six months ended June 30, 2024
		underwriting funds 710 $ 1,200 $ Three months ended June 30, 2024 Six months ended June 30, 2025
Associates: Uni-President Assets Management Corp.	Three months ended June 30, 2025	Three months ended June 30, 2024
	23,115 $	24,422 $	48,800 $	47,644 $

J. Other operating revenue - handling fee revenues from underwriting funds

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

~49~

K. Rent income

Rent income
Associates: Uni-President Assets Management Corp.	Period 2016.01.01~2028.08.31	Deposit 1,497 $	Three months ended June30,2025	Three months ended June30,2024	Six months ended June30,2025	Six months ended June30,2024
			2,417 $	2,406 $	4,834 $	4,719 $

Rental income mentioned above is derived from leasing part of the Group’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.

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

Stock custodian income Entity having significant influence on the Company: Uni-President Enterprises Corp. Entity having significant influence on the Company: Uni-President Enterprises Corp. Associate: Uni-President Assets Management Corp. Other related party: ScinoPharm Taiwan, Ltd. Ton Yi Industrial Corp. President Chain Store Corp. (PCSC) Others Total	Three months ended June 30,2025		Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	300 $ Three months ended June 30,2025		75 $ Three months ended June 30,2024	300 $ Six months ended June 30,2025	75 $ Six months ended June 30,2024
	1,041 $ 35 628 314 774 187 2,979 $		1,057 $ 35 656 323 770 187 3,028 $	1,995 $ 75 1,116 622 1,467 371 5,646 $	2,053 $ 75 1,144 632 1,421 371 5,696 $

M.Stock custodian income

Terms of stock custodian income mentioned above are similar to third parties.

N. Other operating expenses – others

Other operating expenses–others
Entity having significant influence on the Company: Uni-President Enterprises Corp. Other related party: President Tokyo Co., Ltd. Presco Netmarketing, Inc. President Professional Baseball Team Corp. Q-WARE Systems & Services Corp. President Information Corp. Total	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	9 $ 35 460 2,310 2,273 100 5,187 $	- $ 96 343 2,310 - - 2,749 $	9 $ 58 731 2,589 2,362 200 5,949 $	- $ 99 599 2,310 - -
				3,008 $

O. Other non-operating expenses – others

Other related party: President Tokyo Co., Ltd.	Three months ended June 30,2025	Three months ended June 30,2024	Six months ended June 30,2025	Six months ended June 30,2024
	- $	243 $	- $	243 $

~50~

P. Purchases of trading securities - dealer

Ending Shares (In thousands) EndingBalance June 30,2025	Ending Shares (In thousands) EndingBalance June 30,2025	Three months ended June 30,2025	Six months ended June 30,2025
Ending Shares (In thousands)		Gain(loss) 387) ($ 1,058 73 202 946 $ Year ended December 31,2024	Gain(loss) 404) ($ 5,859 95 113 5,663 $ Six months ended June 30,2024
1,318 9 390 December	106,758 $ 318,770 2,309 7,664 435,501 $ EndingBalance 31,2024
Ending Shares (In thousands)		Gain(loss) 786 $ 32,542 130 33,458 $ Three months ended June 30,2024
100 8,090 $ 183,107 9 2,367 193,564 $ Ending Shares (In thousands) EndingBalance June 30,2024
Ending Shares (In thousands)		Gain(loss) 5 $ 4,913 - 4,918 $	Gain(loss) 1 $ 13,582 - 13,583 $
104 9	8,455 $ 205,460 2,462 216,377 $

~51~

Q. Compensation of key management personnel

The compensation of key management such as directors, general managers, vice general managers were as follows:

ere as follows:
Salary and short-term employee benefits Retirement benefits Other long-term employee benefits Termination benefits Share-based payment Total		Three months ended June 30,2025		Three months ended June 30,2024		Six months ended June 30,2025		Six months ended June 30,2024
		42,686 $ 496 - - - 43,182 $		61,488 $ 462 - - - 61,950 $		71,468 $ 972 - - - 72,440 $		129,694 $ 946 - - - 130,640 $

8. PLEDGED ASSETS

The Group’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)
Others 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
- Refundable deposits
Financial assets at fair value
through profit or loss - current
Financial assets at fair value through
profit or loss - non-current

June 30, 2025
December 31, 2024
June 30, 2024
Purposes
6,465,000
$ 3,214,000
$ 1,650,000
$ Securities for bonds sold under
repurchase agreements
441,600
93,900
45,100
Securities for bonds sold under
repurchase agreements
7,316,210
7,312,417
6,420,648
Securities for bonds sold under
repurchase agreements
3,266,950
1,847,763
689,238
Securities for bonds sold under
repurchase agreements
100,000
100,000
100,000
Securities for bonds sold under
repurchase agreements
6,739,000
3,606,350
3,177,575
Securities for bonds sold under
repurchase agreements
770
384,288
118,738
Collections on behalf of third
parties and reimbursement
for wages and stocks
500,000
500,000
500,000
Securities for short-term loans
and guarantees for issuance
of commercial papers
50,000
50,000
50,000
Trust fund deposit-out
1,077,650
1,080,330
1,083,009
Securities for short-term loans
and guarantees for issuance
of commercial papers
640,000
640,000
640,000
Security deposits
2,000
2,000
2,000
Security deposits

9. SIGNIFICANT COMMITMENTS

None.

~52~

10. SIGNIFICANT LOSS FROM NATURAL DISASTER

None.

11. SIGNIFICANT SUBSEQUENT EVENT

A. Please refer to Note 6 (29) for details.
B. To strengthen its medium-term working capital, the Company signed a syndicated loan agreement with a consortium of banks on August 19, 2025. The total facility amount is $8,000,000 and the term is three years from the initial drawdown date.

12. OTHER

1) Management objective and policy of financial risks

A. Risk management objective
The Group continually strengthens risk culture to every employee and makes sure that the Group 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.
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 Group sets up “Risk Management Policy”. Such policy aims to establish internal system compliance and the guiding tools for policies communication within the Group and enable every layer of the Group 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 Group’s risk management system covers risks incurred from businesses on 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 Group 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 Group.
(C) The General Manager supervises daily risk management of the entire Group and is responsible for the following:
- a. Supervise and monitor daily risk management of the entire Group.

~53~

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 Group. b. Analyze and control the entire Group’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 Group.
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.
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

~54~

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 Group sets up “Risk Management Policy”. Such policy aims to establish internal system compliance and the guiding tools for policies communication within the Group and enable every layer of the Group 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 Group has implemented risk management information system (Risk Manager) in relation to market risk control. All trading positions of the Group 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) Operating risks

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 risk

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

Based on the two major risk indicators of climate risk, the physical risk and the transition risk, the potential climate risk on investment position is estimated by different scenario analyses. The Company regularly discloses implementation of climate risk management annually that 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.

~55~

E. Hedging and risk-offsetting strategy
- (A) Policies of hedging and risk mitigating are parts of the Group’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 Group as a result of engagement in financial transactions include issuer’s credit risk, credit risk of counterparty and credit risk of underlying assets:

(A) Credit risk of the issuer refers to the issuers of financial debt instruments held by the Group failing to repay its obligation due to the fact that the issuer breaches the contract resulting in the risk of financial loss to the Group.
(B) Credit risk of counterparty refers to risk of financial loss to the Group 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 Group 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 consolidated 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 Group 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 Group, 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 Group are bond funds. As the positions held are not significant, credit risk is deemed low.
b. Commercial papers

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

~56~

c. Debt securities

Debt securities are mainly positions like government bonds, convertible corporate bonds and foreign bonds and the issuers are primarily R.O.C. government, domestic and foreign legal entities. 8% of convertible corporate bond is guaranteed by banks. Details are as follows:

(a) Government bonds

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

(b) Corporate bonds

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

The convertible corporate bonds held by the Group are mostly issued by the domestic legal entities. The Group 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 Group are mainly underlying investment with good credit rating and those with rating above (S&P BB).

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

(D) Derivatives - futures trade margin

When engaging in futures trades in stock exchange market, the Group 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 Group 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(12).

Types of OTC derivative transactions in which the Group is engaged include structured notes and swap transaction. The counterparties are all from financial service industry and mainly located in Taiwan, United States, 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 Group 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 Group 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(12).

~57~

(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 Group 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 Group’s securities sold by 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 Group’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 Group’s receivables from the consignment businesses and self-operating businesses are settlement of securities from OTC 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 Group deposits central government bonds in the Central Bank as collateral. Regardless of the bonds themselves or the financial institutions where the bonds are 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.

~58~

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 Group 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 Group considers reasonable and supporting information about past events, current conditions and future economic conditions. The Group 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 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	Stage3
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 Group 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

~59~

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.

(C) Writing-off policy
- If any of the following condition applies, the Group 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 Group 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 forward-looking 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 Group
(A) At June 30, 2025, December 31, 2024 and June 30, 2024, there were no changes in the loss allowance for investments in debt instruments measured at fair value through other comprehensive income.
(B) Except for bond interest receivable which was evaluated along with debt investments, the Group applies the simplified approach to measure the loss allowance at an amount equal to lifetime expected credit losses for margin loans receivable, accounts receivable, other

~60~

receivable-others and overdue receivables. The movements in loss provision of margin loans receivable, accounts receivable, other receivable-others and other non-current assetsoverdue receivables of the Group are as follows:

			Six months ended June 30,2025	Six months ended June 30,2025	Six months ended June 30,2025	Six months ended June 30,2025	Total
	Margin loans receivable		Accounts receivable	Other receivables	Other non-current assets-overdue receivables
27,740 $ 18,287) ( 9,453 $ Margin loans receivable			491 $ 103 594 $ Year				34,510 $ 18,969) ( 15,541 $ Total
	Margin loans receivable		Accounts receivable	Other receivables		Other non-current assets-overdue receivables
46,779 $ 19,039) ( 27,740 $ Margin loans receivable							49,660 $ 15,150) ( 34,510 $ Total
	Margin loans receivable		Accounts receivable	Other receivables		Other non-current assets-overdue receivables
46,779 $ 18,760) ( 28,019 $		641 $ 303) ( 338 $		275 $ - 275 $		1,965 $ 1,646 3,611 $	49,660 $ 17,417) ( 32,243 $

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 Group’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 Group 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 Group 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 Group.

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

~61~

(B) Stimulation test
- a. The Group reviews fund liquidity risk from a perspective of supply and demand of fund every month with simulation analysis of available fund for emergency including 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 Group should conduct a review to see whether the total minimized fund supply is more than maximized total fund demand. The Group 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 Group 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.

~62~

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

		June 30,2025
Immediately	Less than 3 months	3-12 months	1-5years - $ - - - - - - - - - - - - 158,602 158,602 $	Total
1,096,000 $ 1,650,000 16,050,301 4,225,113 - 1,029,298 1,375,292 - 43,822,153 29,922,589 555,434 182,324 - - 99,908,504 $	1,511,880 $ 11,450,000 - - 23,821,200 - - 2,624,982 - 168,720 18,418 1,922,977 13,630,016 21,673 55,169,866 $	- $ - - 2,007,545 - - - 387,533 - - 91,034 1,585,467 1,194,308 52,648 5,318,535 $		2,607,880 $ 13,100,000 16,050,301 6,232,658 23,821,200 1,029,298 1,375,292 3,012,515 43,822,153 30,091,309 664,886 3,690,768 14,824,324 232,923
				160,555,507 $

~63~

		December31,2024
Immediately	Less than 3 months	3-12 months	1-5years - $ - - - - - - - - - - - - 149,590 149,590 $	Total
1,060,000 $ 200,000 7,465,737 4,828,015 - 1,208,692 1,707,090 - 35,522,374 27,359,191 848,621 20,131 - - 80,219,851 $	7,244,220 $ 32,810,000 - - 15,730,764 - - 659,427 - 116,392 19,261 425,083 12,405,988 21,813 69,432,948 $	500,000 $ - - 1,242,786 - - - 314,149 - - 90,116 2,413,640 1,395,595 50,291 6,006,577 $		8,804,220 $ 33,010,000 7,465,737 6,070,801 15,730,764 1,208,692 1,707,090 973,576 35,522,374 27,475,583 957,998 2,858,854 13,801,583 221,694
				155,808,966 $

~64~

		June 30,2024
Immediately	Less than 3 months	3-12 months	1-5years - $ - - - - - - - - - - - - 98,044 98,044 $	Total
2,716,620 $ 600,000 6,854,391 6,598,458 - 693,604 920,618 - 23,597,437 31,883,866 638,593 68,130 - - 74,571,717 $	10,118,500 $ 32,250,000 - - 14,876,694 - - 3,405,762 - 135,790 18,951 2,248,666 12,269,309 17,907 75,341,579 $	- $ - - 651,636 - - - 757,169 - - 88,710 2,166,332 466,915 41,870 4,172,632 $		12,835,120 $ 32,850,000 6,854,391 7,250,094 14,876,694 693,604 920,618 4,162,931 23,597,437 32,019,656 746,254 4,483,128 12,736,224 157,821
				154,183,972 $

~65~

4) Market risk

A. Definition of market risk

Market risk refers to the risk of decrease in the Group’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 Group 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 Group 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 Group. 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.

Statistical table for one-dayVaR of transactions	Statistical table for one-dayVaR of transactions	Statistical table for one-dayVaR of transactions	Statistical table for one-dayVaR of transactions
Six months ended June30,2025 June 30, 2025 VaR Maximum VaR Average VaR Minimum	Amount 169,877 $ 304,739 166,235 97,086	Six months ended June30,2024 June 30, 2024 VaR Maximum VaR Average VaR Minimum	Amount 160,172 $ 288,828 181,509 43,520

Statistical table for VaR of various risk indicators of transactions

Six months ended

Six months ended
June30,2025	Foreign exchange 17,514 $ 44,734 12,901 1,575 Foreign exchange 17,860 $ 29,753 13,952 6,794	Interest 42,564 $ 54,162 37,753 2,603 Interest 7,410 $ 28,898 10,950 855	Share ownership
June 30, 2025 VaR Maximum VaR Average VaR Minimum Six months ended June30,2024			161,849 $ 292,156 161,295 95,552 Share ownership
June 30, 2024 VaR Maximum VaR Average VaR Minimum			161,029 $ 290,630 183,021 38,055

~66~

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 June 30, 2025, December 31, 2024 and June 30, 2024:

Financialassetsin foreigncurrencies Cash and cash equivalents Financial assets at fair value through profit or loss Financial assets at fair value through other comprehensive income - current Bonds purchased under resale agreements Investments accounted for under the equity method Others Financial liabilities in foreign currencies Short-term loans Financial liabilities at fair value through profit or loss Bonds sold under repurchase agreements Others				June 30,2025
	USD 1,179,926 $ 10,191,991 6,961,050 44,303 - 16,365,373 2,097,880 411,614 13,793,834 19,499,138	EUR 100,292 $ 2,590,347 - 104,307 - 1,037,036 - 109,782 1,686,557 1,395,424	AUD 64,275 $ 1,013,142 - - - 249,451 - 271 911,254 294,172	RMB 5,272 $ 10,598 - - 2,370,754 957 - 13,204 - 1,017,555	HKD 801,452 $ 19,024 - - - 1,301,111 - - - 1,296,523	Others 76,943 $ 795,714 - - - 26,393,880 - 25,854 202,697 21,901,290	Total
							2,228,160 $ 14,620,816 6,961,050 148,610 2,370,754 45,347,808 2,097,880 560,725 16,594,342 45,404,102

Note: As of June 30, 2025, foreign exchange rates of the above currencies to TWD were 1 USD = 29.300 TWD; 1 EUR = 34.350 TWD; 1 AUD = 19.140 TWD; 1 RMB = 4.091 TWD; and 1 HKD = 3.732 TWD, respectively.

~67~

Financial assets in foreign currencies Cash and cash equivalents Financial assets at fair value through profit or loss Financial assets at fair value through other comprehensive income - current Investments accounted for under the equity method Others Financial liabilities in foreign currencies Short-term loans Financial liabilities at fair value through profit or loss Bonds sold under repurchase agreements Others			December 31,2024	December 31,2024	December 31,2024
	USD 1,189,726 $ 7,952,799 3,672,279 - 20,640,027 744,220 418,230 9,878,524 21,989,261	EUR 1,908 $ 1,045,709 - - 38,001 - - 947,867 33,282	AUD 3,611 $ 1,253,627 - - 10,886 - - 1,171,710 9,943	RMB 57,376 $ 59,368 - 2,641,462 1,583 - 3,385 40,157 404,327	HKD 971,842 $ 5,297 - - 1,458,704 - 201 - 1,449,485	Others 106,475 $ 631,134 - - 222,167 - 3,231 127,928 515,688	Total
							2,330,938 $ 10,947,934 3,672,279 2,641,462 22,371,368 744,220 425,047 12,166,186 24,401,986

Note: As of December 31, 2024, foreign exchange rates of the above currencies to TWD were 1 USD = 32.785 TWD; 1 EUR = 34.140 TWD; 1 AUD = 20.390 TWD; 1 RMB = 4.478 TWD; and 1 HKD = 4.222 TWD, respectively.

Financialassetsin foreigncurrencies Cash and cash equivalents Financial assets at fair value through profit or loss Financial assets at fair value through other comprehensive income - current Bonds purchased under resale agreements Investments accounted for under equity method Others Financial liabilities in foreign currencies Short-term loans Financial liabilities at fair value through profit or loss Bonds sold under repurchase agreements Others				June 30,2024
	USD 1,063,714 $ 7,872,684 1,677,095 - - 10,821,454 1,220,120 410,751 6,526,665 15,166,703	EUR 3,121 $ 1,049,224 - 20,803 - 476,638 - 61,542 925,818 331,812	AUD 1,674 $ 880,695 1,390,495 - - 161,206 - 493 2,152,523 144,252	RMB 33,573 $ 13,996 - - 2,618,792 1,097 - 844 - 268,841	HKD 892,298 $ 2,830 - - - 93,921 - - - 91,442	Others 139,630 $ 646,715 - - - 121,704 - 65 75,043 129,181	Total
							2,134,010 $ 10,466,144 3,067,590 20,803 2,618,792 11,676,020 1,220,120 473,695 9,680,049 16,132,231

Note: As of June 30, 2024, foreign exchange rates of the above currencies to TWD were 1 USD = 32.450 TWD; 1 EUR= 34.710 TWD; 1 AUD= 21.520 TWD; 1 RMB= 4.445 TWD; and 1 HKD=4.155 TWD, respectively.

~68~

     - D. The total exchange gain (loss), including realized and unrealized, arising from significant foreign exchange variation on the monetary items held by the Group for the three months and six months ended June 30, 2025 and 2024, amounted to ($40,502), $5,577, ($104,998) and $140,520, respectively.

5) Fair values 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 Group’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 June 30, 2025 Investment property December 31, 2024 Investment property June 30, 2024 Investment property	Total 510,246 $ 532,604 $ 532,752 $	Quoted prices of the same assets in active markets (level 1)	Other significant observable inputs (level 2)	Significant non-observable inputs (level3)
		- $ - $ - $	510,246 $ 532,604 $ 532,752 $	- $ - $ - $

The fair value of investment property held by the Group 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 Group’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 Group 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 Group. For those classified as derivative instruments, their fair values are based on their market prices if

~69~

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

(B)When financial assets at fair value through other comprehensive income 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 Group 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 Group’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 Group such as emerging stock without active markets, off-the-run issue of 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 six months ended June 30, 2025 and 2024, 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 Group’s investment in unlisted stocks is included in Level 3. For the six months ended June 30, 2025 and 2024, some of the unlisted stocks became the emerging stocks, therefore these stocks were transferred from Level 3 to Level 2.

~70~

(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 Others 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		June30,2025	June30,2025
	Total 10,981,203 $ 34,913,754 2,964,204 1,743,116 6,961,050 1,730 49,757 65,000 1,510,853 16,050,301 6,392,956 6,232,658	Level 1 10,721,963 $ 4,624,296 2,964,204 1,743,116 6,961,050 - - - - 16,050,301 6,182,368 1,181,114	Level 2 114,827 $ 30,289,458 - - - - 49,757 - - - 210,588 5,051,544	Level3
				144,413 $ - - - - 1,730 - 65,000 1,510,853 - - -

~71~

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 Others 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		December	31,2024
	Total 19,696,036 $ 31,653,542 5,817,978 823,611 3,672,279 1,734 49,437 66,500 1,452,561 7,465,737 4,237,526 6,070,801	Level 1 19,407,784 $ 8,414,603 5,817,978 823,611 3,672,279 - - - - 7,465,737 4,177,468 1,757,891	Level 2 142,863 $ 23,238,939 - - - - 49,437 - - - 60,058 4,312,910	Level3
				145,389 $ - - - - 1,734 - 66,500 1,452,561 - - -

~72~

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 Others 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		June30,2024	June30,2024
	Total 31,378,605 $ 26,657,545 5,058,858 644,322 3,067,590 1,574 49,316 66,500 1,381,269 6,854,391 4,863,241 7,250,094	Level 1 31,122,150 $ 8,727,964 5,058,858 644,322 3,067,590 - - - - 6,854,391 4,827,375 2,827,502	Level 2 114,865 $ 17,929,581 - - - - 49,316 - - - 35,866 4,422,592	Level3
				141,590 $ - - - - 1,574 - 66,500 1,381,269 - - -

~73~

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

		Six months ended June 30,2025	Six months ended June 30,2025	Six months ended June 30,2025	Six months ended June 30,2025
Financial assets at fair value through profit or loss - current Unlisted stocks Financial assets at fair value through profit or loss - non-current Venture capital shares Others Financial assets at fair value through other comprehensive income - non-current Unlisted stocks	January1	Valuation amount		Increased		Decreased		June 30
		Recorded in profit or loss	Recorded in other comprehensive income(loss)	Acquired/ Issued	Transfers into level 3	Sold/ Diposed or Settled	Transfers out from level 3
	145,389 $ 1,734 66,500 1,452,561	976) ($ - $ - $ 4) ( - - 1,500) ( - - - 58,292 - Year ended December 31,2024			- $ - - -	- $ - - -	- $ - - -	144,413 $ 1,730 65,000 1,510,853
Financial assets at fair value through profit or loss - current Unlisted stocks Financial assets at fair value through profit or loss - non-current Venture capital shares Others 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/ Diposed or Settled	Transfers out from level 3
	140,165 $ 10,004 58,500 1,168,288	7,224 $ - $ - $ 8,270) ( - - 8,000 - - - 284,273 - Six months ended June 30,2024			- $ - - -	2,000) ($ - - -	- $ - - -	145,389 $ 1,734 66,500 1,452,561
Financial assets at fair value through profit or loss - current Unlisted stocks Financial assets at fair value through profit or loss - non-current Venture capital shares Others Financial assets at fair value through other comprehensive income - non-current Unlisted stocks	January1	Valuation amount		Increased		Decreased		June 30
		Recorded in profit or loss	Recorded in other comprehensive income(loss)	Acquired/ Issued	Transfers into level 3	Sold/ Diposed or Settled	Transfers out from level 3
	140,165 $ 10,004 58,500 1,168,288	3,425 $ 8,430) ( 8,000 -	- $ - - 212,981	- $ - - -	- $ - - -	2,000) ($ - - -	- $ - - -	141,590 $ 1,574 66,500 1,381,269

~74~

(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:

June 30,2025	Fair value	Valuation technique	Significant unobservable input	Range (weighted average)	Relationship of inputs to fairvalue
Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - non-current Venture capital shares 1,730 Others 65,000 Financial assets at fair value through other comprehensive income - non-current Unlisted stocks 1,510,853 Unlisted stocks 144,413 $		Net asset value Net asset value Market approach Market approach	Price to book ratio multiple Price to earnings ratio multiple Discount for lack of marketability Latest transaction price Not applicable Not applicable Market price net profit after tax multiplier Price to book ratio multiple Discount for lack of marketability	1.49~6.20 16.85 25% Not applicable Not applicable Not applicable 19.98~22.72 3.61~4.01 25%	The higher the discount for lack of marketability, the lower the fair value Not applicable Not applicable Not applicable The higher the discount for lack of marketability, the lower the fair value The higher the multiple, the higher the fair value The higher the multiple, the higher the fair value

(Blank below)

~75~

December31,2024	Fair value	Valuation technique	Significant unobservable input	Range (weighted average)	Relationship of inputs to fairvalue
Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - non-current Venture capital shares 1,734 Others 66,500 Financial assets at fair value through other comprehensive income - non-current June 30, 2024 Fair value Unlisted stocks 1,452,561 Unlisted stocks 145,389 $		Net asset value Net asset value Valuation technique Market approach Market approach	Price to book ratio multiple Price to earnings ratio multiple Discount for lack of marketability Latest transaction price Not applicable Not applicable Market price net profit after tax multiplier Price to book ratio multiple Discount for lack of marketability Significant unobservable input	1.94~6.11 19.66 25% Not applicable Not applicable Not applicable 22.30~23.84 2.67~3.25 25% Range (weighted average)	The higher the discount for lack of marketability, the lower the fair value Not applicable Not applicable Not applicable The higher the discount for lack of marketability, the lower the fair value Relationship of inputs to fair value The higher the multiple, the higher the fair value The higher the multiple, the higher the fair value
Financial assets at fair value through profit or loss - current Financial assets at fair value through profit or loss - non-current Venture capital shares Others Financial assets at fair value through other comprehensive income - non-current Unlisted stocks Unlisted stocks	1,574 66,500 1,381,269 141,590 $	Net asset value Net asset value Market approach Market approach	Price to book ratio multiple Price to earnings ratio multiple Discount for lack of marketability Latest transaction price Not applicable Not applicable Market price net profit after tax multiplier Price to book ratio multiple Discount for lack of marketability	2.11~6.28 21.68 25% Not applicable Not applicable Not applicable 25.33~25.42 2.30 25%	The higher the multiple, the higher the fair value The higher the discount for lack of marketability, the lower the fair value Not applicable Not applicable Not applicable The higher the discount for lack of marketability, the lower the fair value The higher the multiple, the higher the fair value

~76~

(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 IFRS Accounting Standards.

(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 Group is reasonable. However, use of different valuation models or assumptions may 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%:

Item	Recognised inprofit or loss	Recognised inprofit or loss	Recognised in other comprehensive income	Recognised in other comprehensive income
June 30,2025	Favourable change	Unfavourable change	Favourable change	Unfavourable change
Financial assets at fair value through profit or loss - current Unlisted stocks Financial assets at fair value through profit or loss - non-current Venture capital shares Others Financial assets at fair value through other comprehensive income - non-current Unlisted stocks Item	1,444 $ 1,444) ($ Not applicable Not applicable Not applicable Not applicable - - Recognised inprofit or loss		- $ - $ - - - - 15,109 15,109) ( Recognised in other comprehensive income
December 31,2024	Favourable change	Unfavourable change	Favourable change	Unfavourable change
Financial assets at fair value through profit or loss - current Unlisted stocks Financial assets at fair value through profit or loss - non-current Venture capital shares Others Financial assets at fair value through other comprehensive income - non-current Unlisted stocks	1,454 $ Not applicable Not applicable -	1,454) ($ Not applicable Not applicable -	- $ - - 14,526	- $ - - 14,526) (

~77~

Item	Recognised inprofit or loss	Recognised inprofit or loss	Recognised in other comprehensive income	Recognised in other comprehensive income
June 30,2024	Favourable change	Unfavourable change	Favourable change	Unfavourable change
Financial assets at fair value through profit or loss - current Unlisted stocks Financial assets at fair value through profit or loss - non-current Venture capital shares Others Financial assets at fair value through other comprehensive income - non-current Unlisted stocks	1,416 $ Not applicable Not applicable -	1,416) ($ Not applicable Not applicable -	- $ - - 13,813	- $ - - 13,813) (

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 Group 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 Group 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 Group 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 Group should be agreed by the Board of Directors. The Group should quarterly report details of risk control with disclosure 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 Group is actively engaged in development of various businesses and continually increases profit, creates company value, and complies with the capital management objective.

The Group calculates and reports the capital adequacy ratio according to “Rules Governing Securities Firms”. As of June 30, 2025, December 31, 2024 and June 30, 2024, the capital adequacy ratios were 281%, 332% and 287%, respectively, as required by the regulations.

~78~

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 consolidated financial statements on a semiannual basis.

A. Balance sheet of trust accounts

on a semiannual basis. e sheet of trust accounts
	BALANCE SHEETS
JUNE 30, 2025 AND 2024
Trust assets			June30,2025		June30,2024
Bank savings		$	648,294	$	639,154
Structured notes			3,961,572		2,893,675
Stock			1,472,115		1,850,496
Bond			1,345,852		1,537,058
Bonds sold under repurchase agreements			25,836		39,638
Fund			10,724,272		9,767,729
Accounts receivable			129,648		116,289
Total of trust assets		$	18,307,589	$	16,844,039
Trust liabilities and equity			June30,2025		June30,2024
Accounts payable		$	40,126	$	25,032
Trust capital			16,912,044		14,321,989
Net income			1,453,644		2,822,471
Accumulated deficit		(	98,225)	(	325,453)
Total of trust liabilities and equity		$	18,307,589	$	16,844,039

(Blank below)

~79~

B. Income statement of trust accounts

STATEMENTS OF INCOME

SIX MONTHS ENDED JUNE 30, 2025 AND 2024

Item		Six months ended June 30,2025		Six months ended June 30,2024
Trust income Interest income Cash dividends received Investment realised gains - bond Investment realised gains - stock Investment realised gains - fund Investment realised gains - structured notes Investment unrealised gains - bond Investment unrealised gains - stock Investment unrealised gains - fund Investment unrealised gains - structured notes Other income Subtotal Trust expenses Administrative expenses Service fee Investment realised losses - bond Investment realised losses - stock Investment realised losses - fund Investment realised losses - structured notes Investment unrealised losses - bond Investment unrealised losses - stock Investment unrealised losses - fund Investment unrealised losses - structured notes Income before income tax Income tax expense Net income	97,445 $ 1,317 675 1,900 229,233 30,524 17,208 466,262 1,181,983 67,997 7 2,094,551 833) ( 3,559) ( 8,883) ( 3,393) ( 87,908) ( 926) ( 94,349) ( 66,646) ( 327,604) ( 46,159) ( 1,454,291 647) ( 1,453,644 $		68,358 $ 6,309 365 2,036 481,676 14,077 17,539 962,745 1,669,424 37,899 6 3,260,434 787) ( 20,417) ( 4,602) ( 97) ( 26,750) ( 263) ( 108,316) ( 40,713) ( 217,269) ( 18,412) ( 2,822,808 337) ( 2,822,471 $

~80~

C. Property list of trust accounts

PROPERTY LIST OF TRUST ACCOUNTS

JUNE 30, 2025 AND 2024

Bank savings Structured notes Fund Bond Bonds sold under repurchase agreements Stock Others Total Item	June30,2025 648,294 $ 3,961,572 10,724,272 1,345,852 25,836 1,472,115 129,648 18,307,589 $	June30,2024
		639,154 $ 2,893,675 9,767,729 1,537,058 39,638 1,850,496 116,289
		16,844,039 $

(Blank below)

~81~

8) Status of the company in the limitations on financial ratios imposed by futures trading act, and the related implementation The table below is prepared according to “Regulations Governing Futures Commission Merchants”.

Article	Calculation formula	June 30,2025	June 30,2025	June 30,2024	June 30,2024	Standard	Enforcement
		Calculation	Ratio	Calculation	Ratio
17	Stockholders’ equity (Total liability－futures trader’s equity)	3,078,883 45,892	67.09	2,096,342 154,797	13.54	`≧`1	Met the requirement
17	Current assets Current liabilities	7,236,133 45,892	157.68	5,296,581 154,797	34.22	`≧`1	Met the requirement
22	Stockholders’ equity Minimumpaid-in capital	3,078,883 400,000	769.72%	2,096,342 400,000	524.09%	`≧`60% `≧`40%	Met the requirement
22	Adjusted net capital Total amount of customer margins required forthe openpositions of futures traders	2,081,288 1,858,703	111.98%	1,062,141 1,944,980	54.61%	`≧`20% `≧`15%	Met the requirement

9) Status of the subsidiary in the limitations on financial ratios imposed by the futures trading act and the related implementation The table below is prepared according to “Regulations Governing Futures Commission Merchants”.

Article	Calculation formula	June 30,2025	June 30,2025	June 30,2024	June 30,2024	Standard	Enforcement
		Calculation	Ratio	Calculation	Ratio
17	Stockholders’ equity (Total liability－futures trader’s equity)	3,663,642 602,862	6.08	2,886,666 488,737	5.91	`≧`1	Met the requirement
17	Current assets Current liabilities	52,076,829 49,972,329	1.04	29,765,080 28,348,710	1.05	`≧`1	Met the requirement
22	Stockholders’equity Minimumpaid-in capital	3,663,642 645,000	568.01%	2,886,666 645,000	447.55%	`≧`60% `≧`40%	Met the requirement
22	Adjustednet capital Total amount of customer margins required for the open positions of futures traders	3,271,537 8,507,172	38.46%	2,537,816 5,848,650	43.39%	`≧`20% `≧`15%	Met the requirement

~82~

10) Prospective risk for futures trading

The main risk for futures merchants engaging in futures trading is credit risk, which could happen if the margin call cannot be made when it should have been made. While being consigned to conduct the futures trading, the Group pays attention to the individual margin account on a daily basis and request additional margin call or reduction in trading volume when necessary according to the condition of individual customer transactions in order to control the credit risk accordingly. 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 Group has set up stop-loss point to control such risk for reasons of risk management.

(Blank below)

~83~

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

No. (Note1)	Company	Counterparty	Relationship (Note 2)	Details oftransactions (Six months ended June 30,2025)	Details oftransactions (Six months ended June 30,2025)	Details oftransactions (Six months ended June 30,2025)	Details oftransactions (Six months ended June 30,2025)
				Account	Amount	Conditions	Percentage (%) of total consolidated net revenues or assets (Note 3)
0	PresidentSecuritiesCorp.	President FuturesCorp.	1	Futures Margin -Own Funds	5,587,474	Note 4	2.82%
0	PresidentSecuritiesCorp.	President FuturesCorp.	1	Deposit-out	34,000	Note 4	0.02%
0	PresidentSecuritiesCorp.	President FuturesCorp.	1	Accounts receivables	2,429	Note 4	0.00%
0	President Securities Corp.	President Futures Corp.	1	Deposit-in	16,000	Note 4	0.01%
0	President Securities Corp.	President Futures Corp.	1	Other receivables	286,611	Note 4	0.14%
0	President Securities Corp.	President Futures Corp.	1	Otherpayables	1,573	Note 4	0.00%
0	President Securities Corp.	President Futures Corp.	1	Equityfor each customer in the account	36,346	Note 4	0.02%
0	President Securities Corp.	President Futures Corp.	1	Future commission revenue	14,601	Note 4	0.36%
0	President Securities Corp.	President Futures Corp.	1	Clearing charges	11,018	Note 4	0.27%
0	President Securities Corp.	President Futures Corp.	1	Other non-operating revenues-Compensation of directors	7,522	Note 4	0.19%
0	President Securities Corp.	President Capital Management Corp.	1	Expense from investment advisory	32,400	Note 4	0.80%
0	President Securities Corp.	President Capital Management Corp.	1	Other non-operating revenues-Rent revenue	2,028	Note 4	0.05%

Note 1 ： The numbers in the No. column are represented as follows:

The number zero is for parent company.
According to the sequential order, subsidiaries are numbered from 1.

~84~

Note 2 ： There are three kinds of transactions between related parties and numbered from 1 to 3 were shown as follows (If transactions between parent company and subsidiaries or between subsidiaries refer to the same transaction, it is not required to disclose twice. For example, if the parent company has already disclosed its transaction with a subsidiary, then the subsidiary is not required to disclose the transaction; for transactions between two subsidiaries, if one of the subsidiaries has disclosed the transaction, then the other is not required to disclose the transaction.) 1. Parent company to subsidiaries.
1. Subsidiaries to parent company.
2. Subsidiaries to subsidiaries.
Note 3 ： The calculation basis of the trading amount accounting for the total consolidated net revenues or assets is that the account ending balance is divided by the total consolidated assets if it is attributed to the balance sheet accounts, and the accumulated trading amount of the interim period is divided by the total consolidated net revenues if it is attributed to the profit or loss accounts.
Note 4 ： All the prices provided between related parties were traded by contracts.
Note 5 ： Based on materiality, only the amounts of the transactions that were above $1 million would be shown in the table.
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 by FSC	Major operating activities	Balance on June 30, 2025 Original	Balance on December 31, 2024 investment	Shares Percentage Ending Balanc	Shares Percentage Ending Balanc	e	Revenue of investee company	Net income (loss) of investee company	Investment income (loss) recognised by the Company	Cash dividends	Notes
									Percentage	Book vlaue
President Securities Corp. President Securities Corp. President Securities Corp. President Securities Corp.	President Futures Corp. President Capital Management Corp. President Securities (HK) Ltd. Uni-President Asset Management Corp.	Taipei Taipei Hong Kong Taipei	1994.03.01 1997.04.15 1994.07.26 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 2000.07.19 (89) Tai-Cai-Zheng (2) Letter No.56407	Futures brokerage and dealer Securities investment consulting Securities dealer, underwriting, brokerage and consulting (Note 4) Investment Trust	$ 1,098,356 (Note 5) 326,000 848,735 667,622	644,650 $ 326,000 848,735 667,622	73,899,647 30,000,000 192,600,000 14,904,630	95.82% 100% 100% 42.46%	3,510,683 $ 286,428 789,769 797,419	354,084 $ 42,750 42 1,271,479	253,313 $ 6,608) ( 8,891 466,994	243,417 $ 6,558) ( 8,891 198,300	279,539 $ - - 374,553	Subsidiary of the Company Subsidiary of the Company Subsidiary of the Company Associates

~85~

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 June 30,2025 Original	Balance on December 31, 2024 investment	Shares Percentage Ending Balanc	Shares Percentage Ending Balanc	e	Revenue of investee company	Net income (loss) of investee company	Investment income (loss) recognised by the Company	Cash dividends	Notes
									Percentage	Book vlaue
President Securities Corp. President Securities Corp. President Insurance Agency Corp.	President Insurance Agency Corp. PSC Venture Capital Investment Limited Company Uni-President Asset Management Corp.	Taipei Taipei Taipei	2008.04.29 2013.10.29 1992.09.03	(Note2) 2013.08.08 Jing- Guan-Zheng-Chuan Letter No.1020028529 2000.07.19 (89) Tai-Cai-Zheng (2) Letter No.56407	Insurance Agent Consultation of investment management and venture capital; other unprohibited or unrestricted businesses beyond the permit Investment Trust	10,000 $ 300,000 478	10,000 $ 300,000 478	1,000,000 30,000,000 12,000	100% 100% 0.03%	92,684 $ 247,968 647	155,037 $ 372) ( 1,271,479	68,949 $ 4,049) ( 466,994	68,961 $ 4,046) ( 160	65,740 $ - 302	Subsidiary of the Company Subsidiary of the Company Associates

Note 1: As FSC was established in July, 2004, President Futures Corp. was apporved by the Investment Commission, Ministry of Economic Affairs. Note 2: 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 Insurance Agency Corp.

Note 3: Subsidiary President Securities (HK) Ltd. was approved by the board of directors in March 2022 to deal with the dissolution and liquidation matters, and the liquidation process are all currently in progress. Note 4: President Securities (HK) Ltd. has completed the deregistration of securities trading-related licenses on March 27, 2024, and has no securities-related business activities. Note 5: Subsidiary President Futures has completed a cash capital increase on March 25, 2025. The Company participated in the subscription in the amount of $453,706 based on its shareholding ratio. The Company's original investment amount increased from $644,650 to $1,098,356, and the shareholding ratio decreased from 96.69% to 95.82%.

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-Chuang Letter No. 11303479011, 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.

~86~

b) Balance sheets

PRESIDENT SECURITIES(HK) LTD. BALANCE SHEETS

JUNE 30, 2025 AND 2024

Amount % 210,457,351 $ 99 1,205,641 1 32,308 - 211,695,300 100 141,068 - 31,600 - 172,668 - 211,867,968 $ 100 88,250 $ - 158,695 - 246,945 - 192,600,000 91 16,844,026 8 2,176,997 1 211,621,023 100 211,867,968 $ 100 June 30,2025	Expressed in HK dollars June 30,2024	Expressed in HK dollars June 30,2024
Amount 210,457,351 $ 1,205,641 32,308 211,695,300 141,068 31,600 172,668 211,867,968 $ 88,250 $ 158,695 246,945 192,600,000 16,844,026 2,176,997 211,621,023 211,867,968 $	Amount 203,937,555 $ 2,538,512 100,870 206,576,937 232,990 91,950 324,940 206,901,877 $ 155,466 $ 258,462 413,928 192,600,000 13,643,938 244,011 206,487,949 206,901,877 $	%
		99 1 -
		100
		- -
		-
		100
		- -
		-
		93 7 -
		100
		100

~87~

c) Statements of comprehensive income

PRESIDENT SECURITIES(HK) LTD. STATEMENTS OF COMPREHENSIVE SIX MONTHS ENDED JUNE 30, 2025 AND 2024

						Expressed in HK dollars	Expressed in HK dollars	Expressed in HK dollars
	Six	months ended	June	30,2025	Six	months ended June 30,2024
Accounts		Amount		%		Amount		%
Revenue
Interest income	$	-		-	$	253		-
Other operating income		10,231		-		48,542		20
Total revenue		10,231		-		48,795		20
Expenditures and expenses
Financial costs	(	4,183)		-	(	6,483)	(	3)
Other operating expenses	(	508,606)	(	23)	(	4,044,787)	(	1,657)
Total expenditures and expenses	(	512,789)	(	23)	(	4,051,270)	(	1,660)
Non-operating gains and losses
Other gains and losses		2,679,554		123		4,246,486		1,740
Profit before tax		2,176,996		100		244,011		100
Income tax expense		-		-		-		-
Net income	$	2,176,996		100	$	244,011		100

~88~

3) Information of overseas branches and representative office: None.

4) Disclosure of investment in Mainland China

a) Information of investment in Mainland China

Investee in Mainland China	Main business activities	Paid-in capital (Note 4)	Investment method (Note 1)	Investment method (Note 1)	Accumulated amount of remittance from Taiwan to Mainland China as of January 1, 2025	Amount remitted from Taiwan to Mainland China/ Amount remitted back to Taiwan for the six months ended June 30,2025	Amount remitted from Taiwan to Mainland China/ Amount remitted back to Taiwan for the six months ended June 30,2025	Amount remitted from Taiwan to Mainland China/ Amount remitted back to Taiwan for the six months ended June 30,2025	Accumulated amount of remittance from Taiwan to Mainland China as of June 30, 2025	Net income (loss) of investee as of June 30, 2025	Ownership held by the Company (direct or indirect)	Investment income (loss) recognized by the Company for the six months ended June 30, 2025 (Note 2)	Investment income (loss) recognized by the Company for the six months ended June 30, 2025 (Note 2)	Book value of investments in Mainland China as of June 30, 2025	Accumulated amount of investment income remitted back to Taiwan as of June 30, 2025
						Remitted to Mainland China	Remitted back to Taiwan
Jin Yuan President Securities Co., Ltd.	Securities brokering, securities dealing, securities underwriting and sponsoring service	$ 6,136,500	Directly invest in a company in Mainland China		$ 3,138,169	$ -	$ -		$ 3,138,169	($ 92,754)	49%	($ 45,449) The financial statements that are audited by international accounting firm which has cooperative relationship with accounting firm in R.O.C.		$ 2,370,754	$ -
Limitation on investment in Mainland China (expressed in thousands of dollars)
Company name				Accumulated amount of remittance from Taiwan to Mainland China as of June 30,2025				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 $					$20,554,924

b) Limitation on investment in Mainland China (expressed in thousands of dollars)

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.

~89~

Note 2: In the ‘Investment income (loss) recognized by the Company for the six months ended June 30, 2025’ 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 were audited and attested by international accounting firm which has cooperative relationship with accounting firm in R.O.C.
b. The financial statements were 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

Major shareholder Uni-President Enterprises Corp.	Number of shares held (thousands) 417,517	Shareholding ratio 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.

14. SEGMENTS INFORMATION

1) General information

Financial information by the Group’s segments is disclosed in accordance with IFRS 8. Management has determined the reportable operating segments based on the reports reviewed by the Chief Operating Decision-Maker (CODM) that are used to make strategic decisions. The Group’s operating segments are classified into Brokerage, Quantitative Trading, Proprietary Trading, Fixed Income, Financial Instrument and Reinvestment according to

~90~

the sources of income. The remaining operating results which have not reached the threshold requirements are consolidated in ‘other operating segments’. Sources of income from products and services rendered by each segment are as follows:

A. Brokerage segment: consigned trading of the listed securities, margin trading and short sale, assistance in futures trading and other instruments trading as approved by the regulations.
B. Quantitative Trading segment: trading of domestic/overseas futures and options, ETF arbitrage, market maker, liquidity provider, hedging, spot/futures arbitrage as approved by Law.
C. Proprietary Trading segment: using the self-owned equity to conduct securities trading such as stocks and bonds trading, and futures and options hedging in Stock Exchange and OTC.
D. Fixed Income segment: used own capital to trade domestic and foreign corporate and government bonds in the OTC market, offered tendering services of Taiwan government bonds, repo and reverse-repo transactions, and own structured products design and sales.
E. Financial Instrument segment: call (put) warrants (including negotiated warrants) and Callable Bull/Bear Contracts (CBBC) issuance, Structured Notes Trading, equity derivative trading, and Exchange Traded Note (ETN) and other derivative financial products approved by the competent authority.
F. Reinvestment segment: companies reinvested by the consolidated entities.
G. Other operating segments include Capital Market segment and Shareholder Services segment.

2) Segments information

The accounting policies applied to the Group’s operating segments and summary of accounting policies disclosed in the notes to the financial statements are consistent and identical. The operating gains and losses are measured by the amount before tax and used as basis for performance appraisal. Income and expense attributable to each operating segment are attributed to the segmental gains and losses. Non-attributable indirect expenses and expenses from logistic support segment are amortized to each operating segment based on reasonable calculation standards and the expense nature. Those that cannot be reasonably amortized are listed under “Others”.

~91~

3) Profit or loss of segments information

			Three months ended June 30, 2025	Three months ended June 30, 2025	Three months ended June 30, 2025
Brokerage segment	Quantitative Tradingsegment	Proprietary Tradingsegment	Fixed Income segment	Financial Instrument segment	Reinvestment segment	Other operating segments	Others 182,009 $ 198,701 $	Total
1,088,829 $ 250,883 $	246,503 $ 529) ($	37,616 $ 25,563) ($				38,602 $ 11,322) ($		2,311,393 $
								701,770 $

Brokerage segment	Quantitative Trading segment	Proprietary Trading segment	Fixed Income segment	Financial Instrument segment	Reinvestment segment	Other operating segments	Others 89,328 $ 86,205 $	Total
1,437,869 $ 481,294 $	542,172 $ 198,544 $	549,690 $ 407,355 $				169,807 $ 92,285 $		3,600,361 $
								1,496,957 $

Brokerage segment	Quantitative Tradingsegment	Proprietary Tradingsegment	Fixed Income segment	Financial Instrument segment	Reinvestment segment	Other operating segments	Others 249,251 $ 261,154 $	Total
2,259,342 $ 609,667 $	485,072 $ 8,505) ($	394,115) ($ 556,218) ($				52,518 $ 61,723) ($		4,039,716 $
								752,267 $

Brokerage segment	Quantitative Tradingsegment	Proprietary Tradingsegment	Fixed Income segment	Financial Instrument segment	Reinvestment segment	Other operating segments	Others 252,996 $ 14,954) ($	Total
2,662,050 $ 862,952 $	1,064,888 $ 488,194 $	1,757,369 $ 1,415,993 $	258,705 $ 152,185) ($	742,154 $ 301,941 $	562,130 $ 277,088 $	298,185 $ 162,124 $		7,598,477 $
								3,341,153 $

Note 1: As operating income (loss) in total is consistent with consolidated statement of comprehensive income, there is no need for adjustment.

~92~

Note 2: The Group measures the performance of reportable operating segment based on specific performance indicators instead of assets and liabilities. The performance of reportable operating segment is regularly reviewed and assessed by the CODM as a reference for making resources allocation decision.

4) Information on products and services

The Group’s segments are based on different products and services, and had been disclosed in general information. It discloses the types of products and services of the Group’s segments source of income. There is no additional disclosure requirement on the income information of products and services.

5) Geographical information

The Group’s external customer income from a single foreign country is immaterial, so it would not be disclosed.

6) Major customer information

The Group did not have any significant customers that account for more than 10% of its revenue, so it would not be disclosed.

(Blank below)

~93~

AI assistant

PSC — Interim / Quarterly Report 2025

52209_rns_2025-12-26_3ca19ffa-e77a-4a7f-84e1-2a87d8559fe2.pdf

PRESIDENT SECURITIES CORPORATION AND

SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS AND

INDEPENDENT AUDITORS’ REPORT

JUNE 30, 2025 AND 2024

INDEPENDENT AUDITORS’ REPORT TRANSLATED FROM CHINESE

To the Board of Directors and Shareholders of PRESIDENT SECURITIES CORPORATION

Opinion

Basis for opinion

Key audit matters

Fair value measurement of unlisted stocks without active market

Description

How our audit addressed the matter

Other matter – Reference to the audits of other auditors

Other matter – Parent company only financial reports

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

Auditors’ responsibilities for the audit of the consolidated financial statements

Wang, Fang-Yu

Independent Auditors

August 27, 2025

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS

JUNE 30, 2025, DECEMBER 31, 2024 AND JUNE 30, 2024

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS JUNE 30, 2025, DECEMBER 31, 2024 AND JUNE 30, 2024

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY SIX MONTHS ENDED JUNE 30, 2025 AND 2024

Equity attributable to owners of the parent

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

SIX MONTHS ENDED JUNE 30, 2025 AND 2024

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS

SIX MONTHS ENDED JUNE 30, 2025 AND 2024

PRESIDENT SECURITIES CORPORATION AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED JUNE 30, 2025 AND 2024

1. HISTORY AND ORGANIZATION

2) Effect of new issuances of or amendments to IFRS Accounting Standards as endorsed by

the FSC but not yet adopted by the Group

4. SUMMARY OF MATERIAL ACCOUNTING POLICIES

1) Compliance statement

2) Basis of preparation

3) Basis of consolidation

B. Subsidiaries included in the consolidated financial statements:

4) Employee benefits

5) Income tax

5. CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND KEY SOURCES OF

ASSUMPTION UNCERTAINTY

6. DETAILS OF SIGNIFICANT ACCOUNTS

1) Cash and cash equivalents

2) Financial assets at fair value through profit or loss

3) Financial assets at fair value through other comprehensive income

4) Bonds purchased under resale agreements

5) Margin loans receivable

6) Receivable of securities business money lending

7) Customer margin account

8) Accounts receivable

9) Other receivables

10) Other current assets

11) Transfer of financial assets

12) Offsetting financial assets and financial liabilities

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

(1)Financial assets

(2) Financial liabilities

13) Investments accounted for under the equity method

Balance sheet

Balance sheet

Statement of comprehensive income

14) Property and equipment

－ 15) Leasing arrangements lessee

16) Leasing arrangements – lessor

17) Investment property

18) Intangible assets

19) Other non-current assets

20) Short-term loans

21) Commercial papers payable

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

23) Bonds sold under repurchase agreements

24) Accounts payable

25) Other payables

PSC Interim / Quarterly Report 2025

`－` 15) Leasing arrangements lessee