First Financial : FFHC 20231Q Consolidated Financial Statements

FIRST FINANCIAL HOLDING CO., LTD.

AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS AND

INDEPENDENT AUDITORS' REVIEW REPORT

MARCH 31, 2023 AND 2022

(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~

FIRST FINANCIAL HOLDING CO., LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

MARCH 31, 2023, DECEMBER 31, 2022 AND MARCH 31, 2022

(Expressed in thousands of New Taiwan dollars)

(The balance sheets as of March 31, 2023 and 2022 are reviewed, not audited)

						March 31, 2023				December 31, 2022				March 31, 2022
	ASSETS		Notes			AMOUNT		%			AMOUNT		%			AMOUNT		%
11000	Cash and cash		6(1) and 7
	equivalents	$	50,127,067		1	$	72,208,162		2	$	44,976,037		1
11500	Due from the central		6(2) and 7
	bank and call loans to
	banks					320,065,231		8			333,759,890		8		368,037,830		9
12000	Financial assets at fair		6(3) and 7
	value through profit or
	loss					181,066,683		4			176,067,526		4		211,530,890		5
12150	Financial assets at fair		6(4), 7 and 8
	value through other
	comprehensive income					347,072,301		8			325,837,173		8		301,506,603		8
12200	Investments in debt		6(5) and 8
	instruments at
	amortised cost					863,694,868		20			806,716,159		19		733,054,553		19
12500	Securities purchased	6(6)
	under resell agreements					5,150,000		-			6,450,000		-		-		-
13000	Receivables, net		6(7) and 7	55,169,464		1			48,686,706		1		57,503,316		2
13200	Current tax assets					1,308,371		-			1,242,825		-		1,344,529		-
13500	Loans discounted, net		6(8) and 7	2,362,274,885		56			2,312,361,364		56		2,119,275,755		54
13700	Reinsurance contract	6(9)
	assets, net					62,765		-			53,975		-		44,715		-
15000	Investments accounted	6(10)
	for using equity
	method, net					3,149,518		-			3,128,975		-		2,946,505		-
15500	Other financial assets,		6(11) and 8
	net					17,958,608		1			17,710,348		1		19,496,944		1
18000	Investment property,		6(12) and 8
	net					12,130,235		-			12,110,510		-		12,118,353		-
18500	Property and		6(13) and 8
	equipment, net					27,576,657		1			27,698,974		1		27,348,666		1
18600	Right-of-use assets, net	6(14)			2,400,979		-			2,470,597		-		2,416,690		-
19000	Intangible assets, net					1,013,571		-			1,102,917		-		936,513		-
19300	Deferred income tax
	assets					3,727,597		-			4,256,251		-		2,752,558		-
19500	Other assets, net		6(16) and 8		4,811,681		-			5,333,630		-		6,044,547		-
19999	Total Assets
	$	4,258,760,481		100		$	4,157,195,982		100	$	3,911,335,004		100

(Continued)

~4~

FIRST FINANCIAL HOLDING CO., LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

MARCH 31, 2023, DECEMBER 31, 2022 AND MARCH 31, 2022

(Expressed in thousands of New Taiwan dollars)

(The balance sheets as of March 31, 2023 and 2022 are reviewed, not audited)

						March 31, 2023				December 31, 2022				March 31, 2022
	LIABILITIES AND EQUITY		Notes			AMOUNT		%			AMOUNT		%			AMOUNT		%
21000	Deposits from the central		6(17) and 7
	bank and banks	$	256,953,099		6	$	272,729,790	7	$	244,934,570	6
21500	Due to the central bank and
	banks					1,066,080		-			1,014,530	-			48,485,300	1
22000	Financial liabilities at fair		6(18) and 7
	value through profit or loss					9,331,858		-			14,491,297	-			13,895,288	-
22500	Securities sold under	6(19)
	repurchase agreements					23,359,756		1			22,729,135	1			21,493,245	1
22600	Commercial papers issued,	6(20)
	net					23,739,370		1			18,642,830	-			23,877,121	1
23000	Payables	6(21)			53,922,231		1			52,503,677	1			44,864,029	1
23200	Current tax liabilities					4,932,079		-			4,427,299	-			4,524,497	-
23500	Deposits		6(22) and 7	3,406,356,349		80			3,305,350,983	80			3,067,703,162	78
24000	Bonds payable	6(23)			62,350,000		1			61,850,000	2			67,150,000	2
24400	Other borrowings	6(24)			6,300,000		-			7,600,000	-			560,000	-
24600	Provisions	6(25)
24610	Provisions for insurance					65,580,537		2			64,684,430	2			56,939,412	2
24620	Provisions for employee
	benefits					2,353,825		-			2,488,451	-			3,753,824	-
24630	Provision for guarantee
	liabilities					1,507,588		-			1,507,312	-			1,208,608	-
24694	Provision for loan
	commitments					742,769		-			750,858	-			513,803	-
24690	Other provisions					297,249		-			331,342	-			264,388	-
25500	Other financial liabilities	6(26)			85,502,745		2			83,204,551	2			63,599,147	2
26000	Lease liabilities					2,251,133		-			2,322,609	-			2,247,508	-
29300	Deferred tax liabilities					8,009,615		-			7,429,024	-			6,582,527	-
29500	Other liabilities	6(27)			7,732,244		-			9,015,294	-			8,122,192	-
29999	Total Liabilities
				4,022,288,527		94			3,933,073,412	95			3,680,718,621	94
	Equity attributable to
	owners of the parent
31100	Capital
31001	Common stock	6(28)			132,234,423		3			132,234,423	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		1			22,978,313	-			20,945,959	-
32003	Special reserve	6(28)			4,104,476		-			4,105,707	-			4,105,707	-
32011	Unappropriated earnings	6(4)(29)			40,732,257		1			34,066,986	1			35,123,329	1
32500	Other equity interest	6(30)			10,315,267		-			4,629,923	-			14,692,579	1
39999	Total Equity
				236,471,954		6			224,122,570	5			230,616,383	6
	Total Liabilities and
	Equity		$	4,258,760,481		100		$	4,157,195,982	100	$	3,911,335,004	100

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

~5~