FIRST FINANCIAL HOLDING CO., LTD.

AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS AND

INDEPENDENT AUDITORS' REVIEW REPORT

SEPTEMBER 30, 2022 AND 2021

(STOCK CODE: 2892)

------------------------------------------------------------------------------------------------------------------------------------

For the convenience of readers and for information purpose only, the auditors' review report and the accompanying consolidated 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~

(111) PWCR22000161

INDEPENDENT AUDITORS' REVIEW REPORT

To the Board of Directors and Stockholders of First Financial Holding Co., Ltd.

Introduction

We have reviewed the accompanying consolidated balance sheets of First Financial Holding Co., Ltd. (the "Company") and its subsidiaries (collectively "First Group") as of September 30, 2022 and 2021, and the related consolidated statements of comprehensive income for the three months and nine months ended September 30, 2022 and 2021, as well as the consolidated statements of changes in equity and of cash flows for the nine months ended September 30, 2022 and 2021, and notes to the consolidated financial statements, including a summary of significant accounting policies. Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Financial Holding Companies, Regulations Governing the Preparation of Financial Reports by Public Banks, Regulations Governing the Preparation of Financial Reports by Securities Firms, Regulations Governing the Preparation of Financial Reports by Insurance Companies, Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants, and International Accounting Standard 34, "Interim Financial Reporting" as endorsed by the Financial Supervisory Commission. Our responsibility is to express a conclusion on these consolidated financial statements based on our reviews.

Scope of review

We conducted our reviews in accordance with the Statement of Auditing Standards No. 65 "Review of Financial Information Performed by the Independent Auditor of the Entity" in the Republic of China. A review of consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our reviews, nothing has come to our attention that causes us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of First Group as of September 30, 2022 and 2021, and of its consolidated financial performance for the three months and nine months ended September 30, 2022 and 2021, as well as its

資誠聯合會計師事務所 PricewaterhouseCoopers, Taiwan

110208 臺北市信義區基隆路一段 333 號 27 樓

27F, No. 333, Sec. 1, Keelung Rd., Xinyi Dist., Taipei 110208, Taiwan T: +886 (2) 2729 6666, F:+ 886 (2) 2729 6686, www.pwc.tw

consolidated cash flows for the nine months ended September 30, 2022 and 2021, in accordance with the Regulations Governing the Preparation of Financial Reports by Financial Holding Companies, Regulations Governing the Preparation of Financial Reports by Public Banks, Regulations Governing the Preparation of Financial Reports by Securities Firms, Regulations Governing the Preparation of Financial Reports by Insurance Companies, Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants, and International Accounting Standard 34, "Interim Financial Reporting" as endorsed by the Financial Supervisory Commission.

Chou, Chien-Hung

Chi, Shu-Mei

For and on behalf of PricewaterhouseCoopers, Taiwan

November 24, 2022

--------------------------------------------------------------------------------------------------------------------------------------

The accompanying consolidated financial statements are not intended to present the financial position and results of operations 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 review 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' review 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.

~3~

FIRST FINANCIAL HOLDING CO., LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

SEPTEMBER 30, 2022, DECEMBER 31, 2021 AND SEPTEMBER 30, 2021

(Expressed in thousands of New Taiwan dollars)

(The balance sheets as of September 30, 2022 and 2021 are reviewed, not audited)

September 30, 2022

December 31, 2021

September 30, 2021

ASSETS

Notes

AMOUNT

%

AMOUNT

%

AMOUNT

%

11000 Cash and cash equivalents

6(1) and 7

$

42,935,792

1

$

60,653,137

2

$

43,069,096

1

11500 Due from the central bank

6(2) and 7

and call loans to banks

310,338,930

8

347,406,533

9

292,136,335

8

12000

Financial assets at fair

6(3) and 7

value through profit or loss

219,550,210

6

184,856,883

5

177,416,677

5

12150

Financial assets at fair

6(4), 7 and 8

value through other

comprehensive income

319,030,339

8

271,675,841

7

272,354,011

8

12200

Investments in debt

6(5) and 8

instruments at amortised

cost

746,545,385

19

705,169,501

19

694,473,028

19

12500

Securities purchased under

6(6)

resell agreements

3,300,000

-

-

-

-

-

13000

Receivables, net

6(7) and 7

47,427,812

1

53,802,322

1

48,579,992

1

13200

Current tax assets

1,219,162

-

1,406,079

-

1,401,607

-

13500

Loans discounted, net

6(8) and 7

2,263,757,550

56

2,036,175,699

55

2,023,661,021

56

13700

Reinsurance contract

6(9)

assets, net

58,338

-

44,214

-

56,872

-

15000

Investments accounted for

6(10)

using equity method, net

3,045,958

-

2,940,983

-

2,915,975

-

15500

Other financial assets, net

6(11) and 8

17,959,508

-

20,206,192

1

19,206,324

1

18000

Investment property, net

6(12) and 8

12,119,824

-

11,952,173

-

11,269,775

-

18500

Property and equipment,

6(13) and 8

net

27,350,470

1

27,492,634

1

27,349,063

1

18600

Right-of-use assets, net

6(14)

2,348,026

-

2,413,371

-

2,444,955

-

19000

Intangible assets, net

902,882

-

1,009,262

-

744,877

-

19300

Deferred income tax assets

4,269,454

-

2,785,285

-

3,052,385

-

19500

Other assets, net

6(16) and 8

6,247,377

-

9,603,798

-

5,759,416

-

19999

Total Assets

$

4,028,407,017

100

$

3,739,593,907

100

$

3,625,891,409

100

(Continued)

~4~

FIRST FINANCIAL HOLDING CO., LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

SEPTEMBER 30, 2022, DECEMBER 31, 2021 AND SEPTEMBER 30, 2021

(Expressed in thousands of New Taiwan dollars)

(The balance sheets as of September 30, 2022 and 2021 are reviewed, not audited)

September 30, 2022

December 31, 2021

September 30, 2021

LIABILITIES AND EQUITY

Notes

AMOUNT

%

AMOUNT

%

AMOUNT

%

21000

Deposits from the central

6(17) and 7

bank and banks

$

310,762,806

8

$

213,044,550

6

$

244,304,714

7

21500

Due to the central bank and

banks

714,240

-

42,741,220

1

30,384,930

1

22000

Financial liabilities at fair

6(18) and 7

value through profit or loss

25,345,240

1

8,117,688

-

6,733,318

-

22500

Securities sold under

6(19)

repurchase agreements

23,704,935

1

18,786,529

1

19,182,968

1

22600

Commercial papers issued,

6(20)

net

23,262,896

1

23,877,347

1

22,676,486

1

23000

Payables

6(21)

46,635,353

1

52,255,790

1

46,705,752

1

23200

Current tax liabilities

4,190,716

-

4,314,378

-

4,264,315

-

23500

Deposits

6(22) and 7

3,129,585,888

78

2,955,313,068

79

2,850,539,353

79

24000

Bonds payable

6(23)

61,850,000

1

57,800,000

2

46,800,000

1

24400

Other borrowings

6(24)

3,800,000

-

390,000

-

400,000

-

24600

Provisions

6(25)

24610

Provisions for insurance

65,771,996

2

53,470,876

1

51,512,145

1

24620

Provisions for employee

benefits

3,683,177

-

3,864,102

-

4,366,774

-

24630

Provision for guarantee

liabilities

1,107,223

-

1,208,020

-

1,073,167

-

24694

Provision for loan

commitments

446,552

-

514,344

-

441,418

-

24690

Other provisions

380,859

-

192,302

-

147,341

-

25500

Other financial liabilities

6(26)

81,978,083

2

60,167,237

2

58,407,214

2

26000

Lease liabilities

2,183,154

-

2,240,307

-

2,274,807

-

29300

Deferred tax liabilities

7,043,203

-

6,856,515

-

6,834,317

-

29500

Other liabilities

6(27)

18,544,898

-

9,892,776

-

5,786,730

-

29999

Total Liabilities

3,810,991,219

95

3,515,047,049

94

3,402,835,749

94

Equity attributable to

owners of the parent

31100

Capital

31001

Common stock

6(28)

132,234,423

3

129,641,591

3

129,641,591

3

31500

Capital surplus

6(28)

26,107,218

1

26,107,218

1

26,107,218

1

32000

Retained earnings

32001

Legal reserve

6(28)

22,978,313

-

20,945,959

1

20,945,959

1

32003

Special reserve

6(28)

4,105,707

-

4,105,707

-

4,105,707

-

32011

Unappropriated earnings

6(4)(29)

28,911,780

1

30,120,717

1

26,447,325

1

32500

Other equity interest

6(30)

3,078,357

-

13,625,666

-

15,807,860

-

39999

Total Equity

217,415,798

5

224,546,858

6

223,055,660

6

Total Liabilities and

Equity

$

4,028,407,017

100

$

3,739,593,907

100

$

3,625,891,409

100

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

~5~

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

First Financial Holding Co. Ltd. published this content on 15 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 December 2022 08:32:05 UTC.