I O N A S S O C I A T S E C U R I T I E S 105 T A I W A N OSU

104 10 7 6 7 104 11 27 104 11 23

104 11 14 104 ( ) 10 11 104 10 22 104 10 26 Ⅰ

(105) 1 19 (104) 5 7~8 261 EPS 0.82 ROE 5.32% 1.91% 2 OSU ( ) ( ) ( ) 103 819 1,241 51.5% 13.3 Ⅱ

19.0 43.0% ( ) ( ) 12 15 1 31 2 1 IT11 12 Ⅲ

105 CONTENTS ⅠⅠ 03 32 39 45 54 60 64 65 66 OSU 75 78 79 83 87 Ⅳ

101 3 28 4 12 7 102 103 2 24 104 40% 45% 102 2% 0.48% ( ) 101 7 102 IPO 102 3 102 6 8,500 103 12 104 6 104 12 17 104 30% 45% 20% 2% 0.48%

2 2016 TAIWAN SECURITIES ASSOCIATION

105 3 105 1 10 8 8 9 104 11 17 105 1 1 0.3% 5~40% 102 ( ) 101 7 26 102 8,500 IPO 10 ( ) 103 5 16 102

4 2016 TAIWAN SECURITIES ASSOCIATION 40% 45% ( ) 100 1 4 102 2% 0.48% ( ) ( 104 11 17 104 12 2 105 5 2 104 12 31 105 1.91% ) 18.40~23.08%( ) 103 887 1,083 706 38 116 2,830 1 28% 1.34 21% ( 21.42% 20.99%) (17.47%) 104 600 4 1 ( ) 99 100 101 102 103 1. 1 891 1,135 1,028 895 1,083 2 524 702 568 543 706 2. 1,046 940 716 714 887 3. 38 4. 89 116 5. (1+2+3+4) 2,461 2,777 2,312 2,241 2,830 6. 8,730 11,308 9,185 8,329 10,075 7. 10,824 12,034 12,221 12,180 13,433 (5/6) 28.19% 24.56% 25.17% 26.91% 28.09% (5/7) 22.74% 23.08% 18.92% 18.40% 21.07% 1 103 2 7 20% ( ) ( FINI) 0.3% 20%

105 5 104 45% 2% ( 1.91%) 0.48% 10.16% 53.81% 1 (FINI) 3 3 3 3 1. 101 7 25 102~103 8,500 IPO 104 10 2. 102 7 25 IPO 104 10 1 3. 103 12 26 IPO 107 10 1 4. 104 12 26 15%) 50 12% 3 5 15% ( ) 1 104 52.16% 8.5%+(1 8.5%) 45%+2%+0.48%103 42% 17%+(40%-17%)+2%103 104 33.6% 17%+(1 17%) 20% 104 103 10.16% 52.16% 42% 24.19% 10.16% 42% 18.56% 52.16% 33.6% 55.22% 18.56% 33.6%

6 2016 TAIWAN SECURITIES ASSOCIATION 104 5%~45% 104 20% 20% 102 5 ( 20 ) 2% 104 12 2 105 2 104 12 31 105 1.91% ( ) ( ) ( ) ( ) 5 ( 20 ) 0.48% ( ) ( ) ( ) ( ) ( ) ( ) 0.3% 0.1% 0.2% ( ) 102~104 102~104 8,500 ( 102 6 25 ) 102 IPO ( 15%) 104 10 0.1% ( 103 12 26 107 )( 104 11 17 ) 20% 2013 10% ( ) 104 45% 20%

105 7 1 1 10% 14%( 20%) 20% 3% ( ) 2% ( 2 1.91%) 0.48% 3 3 0.1% 0.1% ( 0.1% 0.1% ) 0.2%( 0.2% 0.2% ) 101 7 25 104 12 26 15%( 5%) 2013 7%( 3%) 3

8 2016 TAIWAN SECURITIES ASSOCIATION 104 5%~45% 104 1. 1 20% 2. 1 1 10% 3. 1 1. 2. ( ) 20%( 3% 10 ) 5-45%( 1000 10% ) 14%( 1.4% ) 102 5,000 ( 20 ) 2% 104 12 2 105 2 104 12 31 105 1.91%

105 9 ( ) 5,000 ( 20 ) 0.48% 97 6 98 11 1. 2. 3. 冲 ( ) ( ) 0.3% ( ) ( ) ( ) 100 11 101 2 3 101 101 3 15 ( 16 ) 3 28 0.3% 1 101 4 2

10 2016 TAIWAN SECURITIES ASSOCIATION 26 4 5 9 101 4 12 101 4 26 5 1 22 5 22 5 28 5 31 7 25 8 8 ( ) 1. 102~103 (1) 8,500 8,500~9,499.99 0.2 9,500~10,499.99 0.4 10,500 0.6 (2) 10 (IPO) ( 101 IPO IPO 1 ) 15% 1 IPO 3 1/4 2. 104 (

105 11 10 ) ( ) 102 50 12% 15% 3 102 101 102 102 3 26 104 101 4 12 102 4 16 101 4 23 102 6 25 7 10 (1) 102 103 8,500 (2) 104 10 10 0.1% 103 102 9 103 1~7 8,611 9,315 (+8.2%) 1,260 103 8 1,095 9 956 103 8~9 7 104 103 103 9 25

12 2016 TAIWAN SECURITIES ASSOCIATION 5 100 1,416 103 639 1~5 100 10,847 103 6,426 103 10 23 103 12 26 3 107 1 0.3% 104 104 2 3 3 3 104 6 7 2 7 16

105 13 104 7 21 / 104 7 22-103 12 107 104 2 ( 5 ) 7,911 1 4 104 1,208 52.8% 1,785 ( ) 0.3% 0.15% ( ) 0.15% 104 8 18 IPO 104 9 18 0.25% 0.05% IPO 2 104 11 13 11 17 0.3% 11 17 4 1 102 1 1 14 2 2 54 0.15% 63 0.15% 65 67 0.15% 0.3% 78 0.3% 0.15%

14 2016 TAIWAN SECURITIES ASSOCIATION 79 0.15% 0.6% 82 0.3% 102 105 1 1 14 2 105 ( ) 4 1 100 12 9 693 ( ) 1. 79 4 1 2 0.6% 2. 100 12 9 693 0.3% 3. 100 7 13 ( 101 4 ) 0.3% ( )

105 15 ( ) 6 102 1 10 IPO 1 1 102 10 8 95% 104 3 4.5 104 ( 107 ) 10 0.1% ( ) FINI 0.3% 20% 0.3% ( 104 11 17 ) 5~45% 2% ( 1.91%) 0.48% 0.2% 0.2% ( ) 0.1% 1 10% ( 1 ) ( ) 91~100 2 1,200 50% 1.06 10 1.45 4,039 ( )

16 2016 TAIWAN SECURITIES ASSOCIATION 50% 10% 25% 17% ( ) 950 300 120 100 5,000 109,546 41.8% (FINI) 21.8% 37.0% 8% 5,000 400 180 45% ( ) (stock split) 103 12.27 5 6 5 5 463 (12 31 296.5 ) 33.3% ( ) 103 2 24

105 17 ( ) ( ) 20% 17% 33.6% 104 45% 30% 38.43% 40% 47.58% 45% 52.16% 2 104 ( ) 102 2% 400 200 102 89 103 116 0.48% 101 3 28 101 4 ~102 12 21 1,000 104 11 17 101 3 28 5 (96 ~101 ) (101 ~104 ) ( ) ( ) 2 30% 38.43% 8.5%+(1 8.5%) 30%+2%+0.48% 40% 47.58% 8.5%+(1 8.5%) 40%+2%+0.48% 45% 52.16% 8.5%+(1 8.5%) 45%+2%+0.48%

18 2016 TAIWAN SECURITIES ASSOCIATION 96 101 1,200~1,800 97 9 ~98 2 ( 6 ) 100 11~12 ( 2 ) 1,000 (101 ) 102 700 ~999 21 1,000 102 9 3 103 1~6 1,232 104 3 104 1~9 1,075 ( ) 2,000 平均日均值 1,360 億元 平均日均值 998 億元 1,750 振興股市 3 箭 1,500 1,250 復徵證所稅 股市揚升方案 1,000 750 500 全球金融海嘯 歐債危機 證所稅大戶條款心理因素提前發酵 96/01 03 05 07 09 11 97/01 03 05 07 09 11 98/01 03 05 07 09 11 99/01 03 05 07 09 11 100/01 03 05 07 09 11 101/01 03 05 07 09 11 102/01 03 05 07 09 11 103/01 03 05 07 09 11 104/01 03 05 07 09 9 (96 ~104 9 ) ( ) 1 2 3 4 5 6 7 8 9 10 11 12 96 1,548 1,184 1,458 1,372 1,235 1,954 2,928 1,955 1,692 1,880 1,522 1,220 1,683 97 1,544 1,454 1,695 1,809 1,639 1,094 1,125 1,039 978 624 615 676 1,181 98 627 733 1 1,186 1,636 2,206 1,437 1,581 1,251 1,451 1,476 1,295 1,623 1,391 99 1,809 1,105 1,263 1,524 1,161 962 1,223 1,483 1,498 1,316 1,212 1,563 1,349 100 1,513 1,580 1,372 1,319 1,237 1,161 1,328 1,422 1,135 1,021 976 739 2 1,222 101 1,017 1,620 1,170 872 830 724 738 3 860 985 725 770 902 928 102 915 937 922 869 997 944 983 902 917 981 906 923 934 103 1,225 1,178 1,276 1,227 1,158 1,321 1,412 1,095 956 985 902 973 1,139 104 1,063 946 1,182 1,222 1,112 1,079 1,023 1,037 960 1,075 1,000 1 (97 9 ~98 2 ) 2 (100 11 ~12 ) 3 (101 4 ~102 12 )

105 19 13,943 ( ) 101 ( ) 101 ~104 5 7,221 96 ~101 ~104 5 688 96 ~101 1,330 ( ) ( 億元 ) 平均每季成交 13,943 億元 平均每季成交 7,221 億元 27,000 23,000 26,428 25,029 19,000 15,000 11,000 7,000 3,000 10,751 12,582 17,581 14,988 14,930 9,733 3,836 16,142 7,994 10,957 17,284 16,562 8,751 17,196 13,112 15,348 13,172 復徵證所稅 9,246 10,000 10,417 8,946 7,708 7,760 7,911 6,680 7,058 7,624 6,511 7,105 6,412 5,820 6,163 6,032 96/Q1 Q2 Q3 Q4 97/Q1 Q2 Q3 Q4 98/Q1 Q2 Q3 Q4 99/Q1 Q2 Q3 Q4 100/Q1 Q2 Q3 Q4 101/Q1 Q2 Q3 Q4 102/Q1 Q2 Q3 Q4 103/Q1 Q2 Q3 Q4 104/Q1 Q2 Q3 9 (96 ~104 ) 5 5 ( ) 27.7% 5.0% 15.1% 18.4% ( 10 ) 96Q1~101Q1 75.4 135.4 145.2 24.4 326.5 101Q2~104Q3 54.5 128.6 123.3 19.9 700.8-27.7% -5.0% -15.1% -18.4% 114.6%

20 2016 TAIWAN SECURITIES ASSOCIATION ( 人 ) 平均每季有 1,330 人交易 平均每季有 668 人交易 2,600 2,549 2,200 2,217 1,800 1,400 1,000 600 200 1,125 1,256 1,712 1,444 1,4581,536 978 787 387 1,624 1,105 899 1,510 1,548 1,416 1,238 1,015 943 1,188 復徵證所稅 636 727 746 848 816701 589 61 667 677 737 639 648 547 96/Q1 Q2 Q3 Q4 97/Q1 Q2 Q3 Q4 98/Q1 Q2 Q3 Q4 99/Q1 Q2 Q3 Q4 100/Q1 Q2 Q3 Q4 101/Q1 Q2 Q3 Q4 102/Q1 Q2 Q3 Q4 103/Q1 Q2 Q3 Q4 104/Q1 Q2 Q3 9 (96 ~104 ) 5 114.6% ( ) IPO 98 99 100 ( ) 101 102 IPO 103 50 IPO ( ) 104 IPO IPO IPO A IPO 98 39 64 9 99 45 94 28 100 82 76 39 101 61 50 26 102 58 79 1 103 50 96 43 104/9 29 51 79 IPO ( ) ( )

105 21 33 IPO IPO IPO 104 40% 45% 105 600 600 2 (600 /3%) 8% 2% 0.48% 104 104 7 104 8 12.17% 4.26% 8% ( 億美元 ) 平均每季流出 63 億美元平均每季流出 125 億美元 250 200 150 100 50 0-50 -100-150 171 110 88 81 63 72-42 8-129 109 109 91 88 53 復徵證所稅 105 89 9 (96 ~104 ) 95 129-17 -12 64 82 172 135 121 30 192 159 141 123 96 116 142 136 103 96Q1 Q2 Q3 Q4 97Q1 Q2 Q3 Q4 98Q1 Q2 Q3 Q4 99Q1 Q2 Q3 Q4 100Q1 Q2 Q3 Q4 101Q1 Q2 Q3 Q4 102Q1 Q2 Q3 Q4 103Q1 Q2 Q3 Q4 104Q1 Q2 Q3

22 2016 TAIWAN SECURITIES ASSOCIATION 98 50% 10% 99 99 104 21 ( ) 97 101 ~104 125 96 ~101 63 101 ~104 3,031 96 ~101 1,921 57.8% 103 1.45 104 1.75 ( ) 0.3% 1,000 7% 96 ~100 1,048 101 719 329 102 714 334 103 887 161 824 103 38 8 (96 ~103 ) ( ) 96 97 98 99 100 101 102 103 1,289 906 1,060 1,046 940 719 714 887 96~100 - - - - - 1,048 - - - - - -329-334 -161 101 9 101 3.85% 1.48% 104 3.78% 3.37%

105 23 7 103 9,307 7 31 1.56% 1 101 101 3 104 11 17 104 12 2 105 1 1 5 2 342 104 12 31 105 1 1 1.91% 20%

24 2016 TAIWAN SECURITIES ASSOCIATION 101 1 101 2 23 2 101 4 5 3 101 4 9 4 101 4 12 7 5 101 4 17 6 101 4 18 7 101 4 19 冲 8 101 4 23 9 101 4 23 10 101 4 23 11 101 4 24 12 101 4 25 冲 13 101 4 25 14 101 4 26 15 101 4 26 16 101 4 26 17 101 4 26 18 101 4 26 19 101 4 30

105 25 20 101 5 4 21 101 5 6 22 101 5 7 23 101 5 8 24 101 5 21 25 101 5 21 26 101 5 23 27 101 5 23 冲 28 101 5 28 29 101 6 4 30 101 6 18 31 101 7 2 32 101 7 16 101 33 101 7 17 34 101 7 17 35 101 7 18 36 101 7 18 37 101 7 18 38 101 7 19 39 101 7 25 102~103 104 102

26 2016 TAIWAN SECURITIES ASSOCIATION 102 40 101 8 5 8 5 41 101 10 25 -- 6% 42 101 12 28 43 102 3 26 104 44 102 4 16 45 102 4 17 46 102 4 17 47 102 4 18 48 102 4 22 49 102 4 24 50 102 4 25 51 102 4 26 52 102 4 29 53 102 5 2 54 102 5 10 55 102 5 14 56 102 5 15 57 102 5 17

105 27 58 102 5 17 59 102 5 23 60 102 5 29 61 102 6 14 62 102 6 24 63 102 6 25 102 103 8,500 103 64 102 12 24 65 102 12 27 66 103 1 6 67 103 1 6 68 103 2 17 69 103 5 14 70 103 6 10 71 103 9 25 10 72 103 10 23

28 2016 TAIWAN SECURITIES ASSOCIATION 73 103 10 28 74 103 11 3 2014 75 103 12 15 76 103 12 16 77 103 12 16 79 103 12 17 80 103 12 23 81 103 12 26 10 107 1 1 82 103 12 26 104 83 104 1 8 84 104 2 3 85 104 3 3 86 104 7 2 104 6 1 2 3 87 104 7 16

105 29 88 104 7 21 89 104 7 22 90 104 7 23 91 104 7 30 - / 1 2 92 104 7 30 93 104 8 7 94 104 8 14 95 104 8 18 104 96 104 8 18 97 104 8 24 98 104 8 25 99 104 8 27 9 9 100 104 8 31

30 2016 TAIWAN SECURITIES ASSOCIATION 101 104 9 2 102 104 9 3 103 104 9 7 104 104 9 9 105 104 9 11 106 104 9 14 107 104 9 14 108 104 9 14 109 104 9 15 110 104 9 15 111 104 9 16 112 104 9 17 113 104 9 17 114 104 9 18 115 104 9 23 116 104 10 15

105 31 117 104 10 29 2015 118 104 10 29 119 104 11 3 120 104 11 17 121 104 11 17 122 104 12 2 105 1 1 5 2 105 1 1 2% 123 104 12 31 1.91%

32 2016 TAIWAN SECURITIES ASSOCIATION 87 103 102 2% 104 45% 0.48% 104

105 33 1 20% 100 17 83 2 103 20% 104 12% 103 40% 7.71% 4 104 30% 45% 103 2 ( ) 100% 20% 0% 17-33.6 5% 12-28.6 12% 5-21.6 16.6 20% 3-13.6 30% 13-3.6 40% 23 +6.4 104 3 ( ) 50% 20% 0% 8.5-25.1 5% 3.925-20.525 12% 2.48-14.12 20% 9.8 16.6-6.8 30% 18.95 +2.35 40% 28.1 +11.5 45% 32.675 +16.075 1 ( )/ 2 99 3 =+ 104 100(83+17) 91.5(83+8.5) 4 40% 27.71%(=23/83 ) 20%(=16.6/83) 7.71%

34 2016 TAIWAN SECURITIES ASSOCIATION 5 20% 2% 0.48% / 6 / ( ) / 50 3 47 (50-3) 102 2% 31 6 1. 2. 3. 4. 5 6 / 5 5 5 27 0.48% 45% 1. Qualified Dividend 5 45% 39.67%(=32.675/83 ) 20%(=16.6/83) 6 =( - )/(1+ )

105 35 2. 3. 4. 20% 0% 45% 45% 42.5% 42.5% 20% 25% 20% 104 9 7 ( [2015]101 ) ( ) ( ) 50% 104 9 8 39.6% Qualified Dividend (0%~20%) 96 101 6 2 1,000 (101 ) 102 700 ~999 21 1,000 7 7 104 8 20

36 2016 TAIWAN SECURITIES ASSOCIATION 45% 12% 100 ( ) 5 2.48 12% 1. / / 2. 12% 101 23.62 104 11 13.42 45% 8 101 23.62 15.10 24.90 11.52 12.30 102 18.04 18.98 26.60 13.79 10.99 103 15.42 18.80 17.70 15.17 15.99 104( 11 / 10 ) 13.42 19.52 18.50 16.46 16.70 8

105 37 1. 2. 3. 20% 105 1 10

OSU OSU O (OBU OSU OIU) OSU OSU OSU 100 150% 105 1 1 28 1

105 OSU 39 OSU 103 3 5 (Offshore Securities Unit, OSU) (Offshore Banking Unit, OBU) OBU OSU OSU 1 DBU ACU / (MAS)

40 2016 TAIWAN SECURITIES ASSOCIATION 45% O (OBU OSU OIU) ( 10 ) SFA 9 MAS CMS(capital market service) ( ) ( universal) OSU OSU DSU OSU ( )

105 OSU 41 OSU OSU (PI) DSU PI OSU 10% (withholding tax) OBU OSU OSU ( ) OSU ( ) OSU ( ) ( ) OSU DSU OSU OSU OSU DSU PI OSU OSU ( ) OSU (DSU OSU DSU OSU ) 2 OSU ( ) ( ) ( ) OSU 47%(45%+2% ) OSU OSU OSU OSU

42 2016 TAIWAN SECURITIES ASSOCIATION OSU OSU OSU OSU OSU ( ) OSU ( ) OSU DSU ( ) ( ) OSU OSU OSU OSU OSU 5 500 4,000 OSU 12.96 OSU OSU OSU OSU ( ) PI OSU PI OSU DSU 22-4 1 3 PI PI PI OSU PI OSU OSU ( ) PI PI /

105 OSU 43 OSU ( ) OSU ( ) OSU 100 1. (1) (2) OSU (3) 2. 22-4 1 5 OSU 7 ( ) 3. OSU OSU / OSU OSU 2 OSU PI OSU OSU / 2 99 1 1 100

44 2016 TAIWAN SECURITIES ASSOCIATION 2009 QFII OSU OSU ( )

105 45 1 ( ) 200 300 ROA 2% 3% ROE 3% 6% 8% 15% ROE ( ) 2014 5,022 3,328 2 1,200 ROE 12% 13% 1 2-3 104

46 2016 TAIWAN SECURITIES ASSOCIATION 2005 11,720.14 3,152.84 4,351.50 104.96 0.93% 2.40% 2006 12,663.65 3,210.50 4,677.80 352.73 2.89% 7.81% 2007 11,228.78 3,417.42 4,934.22 522.68 4.38% 10.88% 2008 8,969.27 3,454.09 4,383.35-88.12-0.87% -1.89% 2009 9,283.04 3,315.57 4,557.00 385.37 4.22% 8.62% 2010 11,135.73 3,435.83 4,804.85 351.10 3.44% 7.50% 2011 9,505.09 3,427.70 4,756.38 170.71 1.65% 3.57% 2012 9,382.13 3,259.60 4,758.06 179.85 1.90% 3.78% 2013 11,517.74 3,267.61 4,784.83 203.83 1.99% 4.36% 2014 13,066.69 3,159.95 4,816.86 279.65 2.28% 5.82% ROE 2010 2011 2012 2013 2014 7.50% 3.57% 3.78% 4.36% 5.82% N/A 6.25% 4.74% 5.84% 10.49% 4 12.43% 4.29% 3.39% 6.94% 10.57% 5 7.54% 5.36% 2.98% -0.46% N/A ROA 2010 2011 2012 2013 2014 3.44% 1.65% 1.90% 1.99% 2.28% N/A 2.51% 1.91% 2.12% 2.36% 3.34% 1.40% 0.93% 1.89% 2.46% 1.40% 0.95% 0.47% -0.07% N/A 6 2010 2011 2012 2013 2014 2.3 2.0 2.0 2.4 2.7 N/A 2.5 2.5 2.8 4.4 3.7 3.1 3.6 3.7 4.3 4.5 4.7 5.3 5.6 N/A 4 5 (FSS) 6 /

105 47 313 3 56.4 256.6 ROE 2013 2014 251% 142% 2014 17.14% 2014 4 10 2014 4 4,000 2014 11 8,000 2015 4 1.5 ( ) 2010 3 31 2013 11000 兩市融資融券餘額 ( 億元人民幣 ) 90.00 10000 80.00 9000 70.00 8000 60.00 7000 50.00 6000 40.00 8000 30.00 7000 20.00 3000 10.00 14-01-02 14-03-02 14-05-06 14-07-18 14-09-19 14-12-31 融資餘額 ( 右 ) 融券餘額 ( 右 ) Wind 2014 7 KPMG 8 www.chinatimes.com 9 www.investor.com.tw

48 2016 TAIWAN SECURITIES ASSOCIATION 100% 80% 60% 40% 20% 9% 6% 36% 1% 48% 6% 3% 32% 1% 58% 13% 6% 8% 1% 9% 5% 14% 1% 72% 71% 10% 12% 19% 2% 57% 16% 15% 14% 2% 53% 16% 17% 26% 2% 39% 14% 11% 23% 4% 48% 20% 9% 27% 5% 39% 其他 ( 包括融資融券利息收入 ) 投資銀行業務 自營及其他投資 資產管理業務 經紀業務 0% 2006 2007 2008 2009 2010 2011 2012 2013 2014 KPMG ( ) 2013 700 2012 2.5 2014 9 900 A ( ) 2014 4 3,000 1.9% A+H 10 7% 2015 1 16 12 50 7.7% 3 1.7 11 10 A+H A H A H A H 7% 11

105 49 ROA 2% 2014 ROE 5.82% 2010 2014 2.7 4.4 4.3 10 2013 ROE 1974 1980 200% Basel III 16% 8% 2015 1 21 200% 150% 12% 8% Basel III 2013 2019 10.5% 150% IPO 200%

50 2016 TAIWAN SECURITIES ASSOCIATION Basel III 8% 100% 2015 2015 1 21 200% 150% 12% 2019 10.5% 200%( ) 464% 36% 200% 13 12 13 BIS ROA ROE Leverage 1 534.00% 4.41% 11.37% 257.72% 2 371.00% 1.73% 5.23% 302.15% 3 362.00% 1.58% 5.63% 357.08% 4 383.86% 1.97% 6.97% 354.48% 5 500.00% 2.89% 6.50% 224.73% 6 507.00% 2.42% 4.57% 188.81% 7 536.50% 2.80% 6.87% 245.25% 8 492.62% 1.61% 5.46% 338.75% 9 668.00% 3.16% 5.66% 179.36% 10 285.00% 0.22% 0.99% 451.03% 464.00% 2.28% 5.93% 289.94% BIS 2013 ROA ROE Leverage 2014 12 2012 2014 11

105 51 4 2014 2.7 4.4 4.3 10 13 1 500 1,500 (ROA) 1% (ROE) 10% (Resolution Trust Corporation) 2008 ( ) 80 / /( 12.5) >150% >8% (70%) - 45% ( )

52 2016 TAIWAN SECURITIES ASSOCIATION ( ) ( ) ( ) (RP) (RS) *25% 13 3 4 5 10 15% 20%

105 53 ( ) ( ) 150% ( ) ( ) 1. 2. (DSU) 3. OSU 4. (DSU) 5. (OSU DSU) 6.

54 2016 TAIWAN SECURITIES ASSOCIATION ( ) ( ) https://scas.twse.com.tw ( ) ( ) ( )

105 55 3 1 93 ( ) ( ) 156 11 104 3 30 10400547440 28 1 4 77 1 12 28 1 267 1 267 1 51 84 93 ( ) 28 1

56 2016 TAIWAN SECURITIES ASSOCIATION 105 1 5 1040042207 28 1 4 105 ( ) ( ) ( ) - - 1 ( ) 2 ( ) 3 ( ) 4 ( ) 5 () 6 ( ) 7 8 ( ) 1 ( ) 2 ( ) 3 ( ) 4 ( ) 5 ( ) 6 ( ) 7 8 9 ( )

105 57 ( ) 36 36 9 IPO ( ) ( ) 30 105 IPO 105 4 ( 105 1 1 )

58 2016 TAIWAN SECURITIES ASSOCIATION 105 1 1 (https://scas.twse.com.tw ( ) 20 35 36 9 2 10% 30%~60% : ( ) ; :

105 59 ( ) ( ) ; ( ) ( )

60 2016 TAIWAN SECURITIES ASSOCIATION ( ) ( ) 104 11 6 ( ) 104 11 19 ( ) 104 12 7 75 1 5 104 12 9 ( ) 104 12 31 ( )

105 61 1. 2. 3. 4. 5. (T81) 104 10 7 ( ) 104 10 27 ( ) 104 12 24 2 6 7 ( ) 104 10 21 ( ) 104 12 7 104 11 12 31 3.0

62 2016 TAIWAN SECURITIES ASSOCIATION ( ) IPO 105 ( ) 1. 2. 4 ( 105 1 1 ) 3. 4. 5. 104 12 31 ( ) 105 1. ( ) 2. 3. 4. ( ) 104 12 31 ( ) 28 1 ( ) 104 11 16 ( ) ( ) ( )

105 63 104 11 16 ( ) 104 10 7 29 1 ( ) ( ) ( ) 104 10 26 ( ) 104 11 16 71 3 104 12 28 ( ETF ) 104 12 17 24 ETF

64 2016 TAIWAN SECURITIES ASSOCIATION ( ) ( ) ( ), 17 ( ) 31 ( ) ( ) 20%( >300%) 10%( >200%) 20%( >300%) 10%( >200%)

105 65 8%~10.75% ( ) 104 10 18 6 19 104 11 12 6 20 103 12 10 6 21 ( ) 1. 2. 3. ( ) 104 10 22 ( ) 105 1 1 104 10 26 ( ) http://www.twsa.org.tw / 1-2 OSU

66 2016 TAIWAN SECURITIES ASSOCIATION 1 2 3 2 2 18 2 1 14 104 3 4 104 2 26 56 18 2 1 14 56 66 1 2 2 18 3 104 4 22 23 66 1 65 56 3 ( ) 66 1 ( ) 56 3 1

105 67 4 5 6 7 8 2 2 36 2 103 5 21 103 6 4 7 14 103 7 28 104 4 5 2 2 18 3 56 36 2 18 3 2 2 4 1 2 104 3 26 2 2 11 2 ( ) 103 2 10 ( ) ( ) 2 2 65 56 2 1 65

68 2016 TAIWAN SECURITIES ASSOCIATION 8 9 10 ( ) 102 6 103 10 ( ) 3 ( ) 104 1 23 25,000 1,284 50% ( ) CA-12110 ( ) 104 5 28 6 5 56 18 2 22 65 56 1

105 69 11 12 104 6 8 12 ( ) ( ) USB ( ) - - 14 2 2 18 2 8 11 13 ( ) ( ) 102 3 ( ) ( ) ( ) 101 103 102 103 103 7 8 CA-11420 ( ) ( )103 6 98 4 101 2 ( ) 65 56 1

70 2016 TAIWAN SECURITIES ASSOCIATION 13 14 15 16 104 5 28 6 12 4 5 103 10 9 56 66 1 6 2 2 2 18 3 56 2 2 36 2 18 3 104 5 25 28 5 29 6 3 6 17 26 3 1 CA-11120 ( ) 66 1 ( ) 56 3 56 1

105 71 17 18 19 20 2 2 30 18 3 2 2 30 18 3 56 2 2 18 2 4 10 25% 2 2 104 6 8 11 6 2 5 ( ) CA-18300 ( ) ( ) 66 1 ( ) 56 2 3 ( ) 66 1 ( ) 56 3 2 65 56 65 56 2 3

72 2016 TAIWAN SECURITIES ASSOCIATION 20 21 ( ) 4 ( ) 79 1 CA-11210 ( ) 1 18 CA-11120 ( ) 4 CA-11210 104 6 15 18 6 22 25 2 2 ( ) CA- 11210 ( ) CA-18312

105 73 21 22 23 24 ( ) CA-11120 ( ) 104 6 15 1040011114 104 5 12 15 5 18 21 104 5 21 26 5 27 6 1 104 7 1 14

74 2016 TAIWAN SECURITIES ASSOCIATION 25 26 27 104 9 104 9-18 (Natixis) 5 1 (1.8 ) 5 1 2 2 19 Stock Pool Stock Pool 19 (103) (104) 2 2 ( ) Key ( ) ( ) ( ) ( ) 65 65

105 75 10 02 10 16 104 9 21 120% 90% 10 22 (OSU) 30% 50% 10 26 11 12 ( ) 11 12 11 16 11 16 4 16 11 17 11 23 2 3 11 25 MOU (Mr. Richard Carleton) MOU

76 2016 TAIWAN SECURITIES ASSOCIATION 11 26 11 30 ( ) 11 30 12 08 105 1 15 12 11 (MOU) ETF 12 14 ( ) 12 14 12 14 12 15 12 19 19 20 IR( )

105 77 12 24 200% 12 28 105 12 28 (QFII) (RQFII) (QDII) (ECFA) 12 29 300 ( 300 ) 12 29 105 4 105 12 29 105 1 1 12 29 105 1 1

78 2016 TAIWAN SECURITIES ASSOCIATION 10 01 (WEF) 2015-16 2014 14 15 WEF 2007-08 10 03 (TPP) 7 12 TPP 18,000 WTO 11 01 MSCI 11 MSCI(Emerging Market Index) 14 11 09 (OECD) 2015 2.9% 2016 3.3% OECD 20 11 30 IMF (SDR) 5 SDR 10.92% 2016 10 1 1 12 03 (ADB) 2015 12 03 (ECB) (QE) 2017 3 600 (650 ) -0.3% 12 17 (FED)FOMC 1 (0.25 ) 0~0.25% 0.25%~0.5% 2006 FED 2016 6 2%

105 79 ( ) ( ) 104 10 104 11 104 12 104 4 1 38,743,773,284 43,064,859,795 35,966,044,088 117,774,677,167 2 4,156,259,549 4,610,585,246 4,612,036,613 13,378,881,408 3 8,170,507,401 5,497,358,209 8,733,512,969 22,401,378,579 4 0 0 0 0 5 0 1,101,774 1,436,910 2,538,684 6 2,060,006 0 5,155,142 7,215,148 7 3,842,396,548 2,864,662,104 3,160,898,396 9,867,957,048 8 7,292,185 23,470,538 8,476,809 39,239,532 9 0 0 0 0 10 0 0 102,021,198 102,021,198 11 0 0 0 0 12 0 0 0 0 13 8,977,183,220 5,571,593,268 5,554,770,980 20,103,547,468 14 0 0 0 0 15 0 0 0 0 16 0 12,530 66,769 79,299 17 0 0 0 0 18 1,688,679 6,192 22,192 1,717,063 19 1,238,052,577 1,086,590,835 1,011,445,096 3,336,088,508 20 956,201,810 899,933,286 784,561,795 2,640,696,891 21 4,304,275,854 4,224,230,966 5,998,334,552 14,526,841,372 22 犇 0 0 0 0 23 538,140,890 697,664,902 549,207,844 1,785,013,636 24 2,863,245 10,683,894 2,055,648 15,602,787 25 0 0 0 0 26 2,473,458 2,475,510 7,107,450 12,056,418 27 1,197,813 1,061,947 8,596,414 10,856,174 28 2,540,362,091 2,747,011,712 2,309,603,574 7,596,977,377 29 0 0 0 0 30 866,142,895 1,055,189,593 1,271,364,187 3,192,696,675 31 0 0 0 0 32 0 0 0 0 33 115,106,573 309,761,361 335,102,038 759,969,972 34 892,110,268 1,347,262,767 1,047,028,382 3,286,401,417 35 15,912,502,906 17,314,516,242 14,155,486,448 47,382,505,596 36 0 0 0 0 37 3,417,872,474 4,425,660,993 3,148,065,468 10,991,598,935 38 6,219,620,700 5,961,114,238 9,716,014,518 21,896,749,456 39 150,219,947 146,550,445 223,488,060 520,258,452 40 10,833,233,162 9,107,884,219 9,980,598,477 29,921,715,858 41 13,550,014,666 10,186,527,992 12,532,551,479 36,269,094,137 42 6,284,557,789 8,431,458,119 5,845,233,111 20,561,249,019 131,726,109,990 129,589,228,677 127,070,286,607 388,385,625,274

80 2016 TAIWAN SECURITIES ASSOCIATION ( )104 4 ETF 18,519,043,986 15,755,576,551 1,921,241,347 15,417 783,895,658 0 35,317,604 927,125 22,070,284 23,740,233,454 10,539,873,278 10,777,793,176 0 254,290,045 0 1,901,273,124 267,003,831 0 112,106,942,759 49,825,965,215 61,748,849,029 0 216,930,386 0 315,198,129 0 0 154,366,220,199 76,121,415,044 74,447,883,552 15,417 1,255,116,089 0 2,251,788,857 267,930,956 22,070,284 4,671,799 27,638 0 0 0 0 4,644,161 0 0 9,348,428 0 0 0 0 0 9,348,428 0 0 94,340,905 94,340,905 0 0 0 0 0 0 0 108,361,132 94,368,543 0 0 0 0 13,992,589 0 0 55,594,843,341 0 0 0 0 0 0 0 55,594,843,341 3,148,628,649 0 0 0 0 0 0 0 3,148,628,649 73,343,763,023 0 0 0 0 0 0 0 73,343,763,023 132,087,235,013 0 0 0 0 0 0 0 132,087,235,013 173,971,376 64,046,633 14,037,711 0 3,246,821 0 83,542,766 0 9,097,445 1,989,492,844 388,296 0 0 199,133 0 861,570,265 1,127,335,150 0 4,429,851,815 1,760,545,565 932,838,601 0 38,888,878 13,733,700 1,659,088,004 0 24,757,067 6,593,316,035 1,824,980,494 946,876,312 0 42,334,832 13,733,700 2,604,201,035 1,127,335,150 33,854,512 810,633,003 0 0 0 0 0 0 0 810,633,003 92,565,942 0 0 0 0 0 0 0 92,565,942 78,473,238 38,080,220 0 0 0 5,686,448 0 0 34,706,570 981,672,183 38,080,220 0 0 0 5,686,448 0 0 937,905,515 134,452,337 134,430,266 22,071 0 0 0 0 0 0 403,871,697 200,842,954 0 0 0 0 42,678,946 160,349,797 0 1,431,676,340 811,201,538 618,788,291 0 0 1,686,511 0 0 0 1,970,000,374 1,146,474,758 618,810,362 0 0 1,686,511 42,678,946 160,349,797 0 8,839,851 1,684,689 0 0 0 0 7,155,162 0 0 172,989,389 2,785,512 0 0 0 0 4,535,300 165,668,577 0 2,837,953,340 1,420,235,921 1,417,717,419 0 0 0 0 0 0 3,019,782,580 1,424,706,122 1,417,717,419 0 0 0 11,690,462 165,668,577 0

105 81 ETF 10,980,978 0 0 0 0 0 10,980,978 0 0 440,040,725 0 0 0 0 0 440,040,725 0 0 1,135,978,542 944,692,108 173,728,133 0 0 0 17,558,301 0 0 1,587,000,245 944,692,108 173,728,133 0 0 0 468,580,004 0 0 18,190,669,251 15,615,717,026 1,260,622,828 290,636,184 4,460,904 599,982 143,206,421 3,276,000 872,149,906 7,116,954,959 3,185,531,458 1,056,070,214 614,694 838,091 16,916,473 2,292,795,226 488,100,841 76,087,962 30,837,062,683 14,988,587,278 8,357,742,929 19,800,135 14,714,121 3,301,297 7,452,916,923 0 0 56,144,686,893 33,789,835,762 10,674,435,971 311,051,013 20,013,116 20,817,752 9,888,918,570 491,376,841 948,237,868 279,909,388 279,149,377 547,454 0 212,557 0 0 0 0 71,495,562 65,181,767 6,313,795 0 0 0 0 0 0 4,717,013,344 4,438,741,505 278,271,839 0 0 0 0 0 0 5,068,418,294 4,783,072,649 285,133,088 0 212,557 0 0 0 0 5,577,679 5,577,679 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,083,286,169 960,742,785 122,543,384 0 0 0 0 0 0 1,088,863,848 966,320,464 122,543,384 0 0 0 0 0 0 44,287,452 44,287,452 0 0 0 0 0 0 0 864,618,068 2,509,192 0 0 0 0 862,108,876 0 0 696,000,812 667,927,376 8,643,815 0 0 19,429,621 0 0 0 1,604,906,332 714,724,020 8,643,815 0 0 19,429,621 862,108,876 0 0 0 0 0 0 0 0 0 0 0 2,515,287,992 2,515,287,992 0 0 0 0 0 0 0 19,219,671,282 19,219,671,282 0 0 0 0 0 0 0 21,734,959,274 21,734,959,274 0 0 0 0 0 0 0 201,163 201,163 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,301,327,459 1,111,339,831 28,765,726 0 161,221,902 0 0 0 0

82 2016 TAIWAN SECURITIES ASSOCIATION ETF 1,301,528,622 1,111,540,994 28,765,726 0 161,221,902 0 0 0 0 119,026,627 119,026,627 0 0 0 0 0 0 0 150,013,898 3,345,601 0 0 0 0 146,668,297 0 0 237,248,619 230,975,086 0 0 0 0 6,273,533 0 0 506,289,144 353,347,314 0 0 0 0 152,941,830 0 0 24,224,060 0 0 0 0 0 24,224,060 0 0 24,172,281 0 0 0 0 0 24,172,281 0 0 173,988,765 173,988,765 0 0 0 0 0 0 0 222,385,106 173,988,765 0 0 0 0 48,396,341 0 0 388,385,625,274 145,222,506,531 88,724,537,762 311,066,430 1,478,898,496 61,354,032 16,345,297,510 2,212,661,321 134,029,303,192 93,921,332,291 32,019,725,101 3,196,471,411 290,651,601 791,815,940 599,982 309,071,152 4,203,125 57,308,793,979 40,739,713,888 16,515,746,050 11,840,177,185 614,694 255,327,269 16,916,473 6,585,191,468 2,208,458,196 3,317,282,553 253,724,579,095 96,687,035,380 73,687,889,166 19,800,135 431,755,287 43,837,577 9,451,034,890 0 73,403,226,660 1,019,792 104 4,308 3,020 1,027,120

105 83 ( ) 90 52 163 3 7 91 113 211 2 4 92 126 128 1 2 93 205 130 2 7 94 102 92 0 9 95 111 99 0 11 96 185 122 0 13 97 86 61 1 1 98 127 101 0 1 99 190 140 0 3 100 204 171 0 1 101 144 110 0 1 102 163 132 0 1 103 138 137 2 1 104Q1 41 41 0 0 104Q2 46 15 0 0 104Q3 31 22 0 0 104Q4 42 51 0 9 ( ) 104 4 ( ) ( ) ( ) 1 2,142 30 64,260,000 104.10.2 2.06 2 F ( ) 2,094 78 163,332,000 104.10.5 2.40 3 700 358 250,600,000 104.10.6 3.15 4 2,812 30 84,360,000 104.10.7 6.16 5 6 7 F- ( ) F- ( ) F- ( ) 500 168 84,000,000 104.10.15 0.39 3,510 72 252,720,000 104.10.15 3.04 3,780 60 226,800,000 104.10.21 2.61 8 3,174 70 222,180,000 104.10.21 2.43 9 1,428 32 45,696,000 104.10.28 0.91 10 1,280 46 58,880,000 104.11.2 0.53 11 500 37 18,500,000 104.11.2 0.28 12 F- ( ) 2,796 72 201,312,000 104.11.3 2.18 13 3,012 44 132,528,000 104.11.9 1.33

84 2016 TAIWAN SECURITIES ASSOCIATION ( ) ( ) ( ) 14 1,176 43 51,038,400 104.11.11 0.63 15 F-JPP ( ) 230 50 11,500,000 104.11.12 0.13 16 1,020 69 70,380,000 104.11.16 0.77 17 10,200 115 1,173,000,000 104.11.17 7.00 18 1,250 25 31,250,000 104.11.17 0.85 19 15,000 10 150,000,000 104.11.25 100.00 20 21 F ( ) F- ( ) 1,170 39 45,630,000 104.11.26 0.82 1,350 82 110,700,000 104.11.30 0.72 22 3,000 11 31,500,000 104.12.9 4.45 23 4,590 30 137,700,000 104.12.9 2.61 24 F- ( ) 3,144 81 254,664,000 104.12.9 2.27 25 3,012 48 144,576,000 104.12.10 1.05 26 6,564 130 853,320,000 104.12.10 4.01 27 F-VHQ ( ) 1,938 86 166,668,000 104.12.10 1.82 28 13,000 13 167,440,000 104.12.11 100.00 29 115,000 21 2,416,150,000 104.12.11 40.67 30 900 59 52,920,000 104.12.16 3.80 31 10,000 17 170,000,000 104.12.16 17.24 32 1,632 32 52,224,000 104.12.16 0.90 33 600 11 6,600,000 104.12.16 1.67 34 13,190 149 1,965,310,000 104.12.16 6.51 35 3,210 115 369,150,000 104.12.17 2.74 36 3,000 10 30,000,000 104.12.18 100.00 37 738 65 47,970,000 104.12.18 0.65 38 F ( ) 1,020 58 59,160,000 104.12.22 0.81 39 822 76 62,472,000 104.12.23 0.44 40 16,000 150 2,400,000,000 104.12.25 16.39 41 2,310 45 103,950,000 104.12.30 1.33 42 4,656 88 409,728,000 104.12.30 2.35 43 1,530 29 44,064,000 104.12.31 1.19 44 2,130 95 202,350,000 104.12.31 1.14

105 85 ( ) 104 4 1 3,919 1,777 104.09.23-09.29 28-32 2 3 4 ( ) ( ) ( ) 4,010 1,916 104.09.25-10.01 75-80 1,500 1,340 104.09.29-10.01 101-110% 1,000 890 104.09.29-10.01 101-110% 5 5,000 4,500 104.10.01-10.05 101-105% 6 5,000 4,490 104.10.01-10.02 101-110% 7 2,200 2,030 104.10.01-10.02 101-105% 8 ( ) 6,724 3,214 104.10.07-10.13 68-72 9 2,000 1,702 104.10.08-10.13 101-110% 10 ( ) 7,245 3,465 104.10.14-10.19 60-65 11 6,083 2,909 104.10.14-10.19 68-75 12 2,000 1,800 104.10.15-10.16 101-110% 13 1,500 1,350 104.10.16-10.19 101-105% 14 15,000 13,390 104.10.15-10.16 101-110% 15 1,500 1,350 104.10.19-10.20 101-105% 16 2,000 1,850 104.10.20-10.21 101-105% 17 2,680 1,252 104.10.21-10.26 32-35 18 ( ) 5,217 2,421 104.10.27-10.30 68-75 19 10,000 9,050 104.10.29-10.30 101-105% 20 21 ( ) ( ) 5,000 4,515 104.10.30-11.02 101-110% 5,000 4,437 104.11.02-11.03 101-105% 22 2,000 1,794 104.11.02-11.03 101-110% 23 9,000 8,080 104.11.02-11.03 101-110% 24 5,215 2,203 104.11.02-11.05 44-48 25 2,000 1,840 104.11.03-11.04 101-110% 26 1,955 779 104.11.04-11.09 40-45 27 5,000 4,605 104.11.09-11.10 101-110% 28 1,952 932 104.11.09-11.12 63-70 29 25,900 15,700 104.11.10-11.13 110-120 30 3,000 2,580 104.11.12-11.13 101-110% 31 8,000 7,100 104.11.19-11.20 101-110% 32 ( ) 2,233 1,063 104.11.19-11.24 36-41

86 2016 TAIWAN SECURITIES ASSOCIATION 33 ( ) 2,450 1,100 104.11.23-11.26 80-83 34 8,109 3,519 104.12.02-12.07 28-31 35 ( ) 5,536 2,392 104.12.02-12.07 78-81 36 11,037 4,473 104.12.03-12.08 128-135 37 VHQ Media Holdings Ltd ( ) 3,712 1,774 104.12.03-12.08 85-90 38 5,663 2,651 104.12.03-12.08 46-49 39 3,000 2,670 104.12.09-12.10 101-110% 40 8,000 7,100 104.12.09-12.10 101-110% 41 29,302 16,112 104.12.09-12.14 146-155 42 3,017 1,385 104.12.09-12.14 28.5-32 43 5,548 2,338 104.12.10-12.15 110-120 44 1,414 676 104.12.11-12.16 65-70 45 ( ) ( ) 1,800 780 104.12.15-12.18 56-60 46 1,518 696 104.12.16-12.21 75.5-79 47 12,000 10,200 104.12.21-12.22 105-110% 48 3,200 2,880 104.12.21-12.23 101-110% 49 15,000 13,265 104.12.22-12.23 101-110% 50 4,417 2,107 104.12.23-12.28 40-45 51 8,604 3948 104.12.23-12.28 88-90 ( ) 104 4 1 Vodafone Group Plc 186,000,000 104.12.02-12.03 2 Macquarie Bank Limited 120,000,000 104.12.4 3 Comcast Corporation 1,490,000,000 104.12.8 4 Intel 915,000,000 104.12.11 5 4,000,000,000 104.12.14 48 1,000,000,000 104.12.14-12.15 49 The Korea Development Bank 1,300,000,000 104.12.14 50 1,000,000,000 104.12.14 51 300,000,000 104.12.14

105 87 ( ) (104 1-12 ) ( ) ( ) EPS( ) ROE( ) ( ) ( ) 76 89,317,291 75,035,469 15,281,371 26,130,599 318,452,258 490,670,030 29.26 0.821 5.33 100.00 15.408 45 84,485,544 71,342,489 14,873,405 24,893,735 307,833,044 471,049,944 29.47 0.809 5.28 94.30 15.302 31 4,831,747 3,692,980 407,966 1,236,864 10,619,214 19,620,086 25.60 1.165 6.30 5.41 18.476 59 75,761,534 66,153,544 14,928,368 22,064,434 300,470,667 454,948,382 29.12 0.734 4.85 84.82 15.141 32 74,287,468 64,517,729 14,561,718 21,911,656 292,370,894 441,918,691 29.50 0.749 4.96 82.92 15.115 27 1,474,066 1,635,815 366,650 152,778 8,099,773 13,029,691 10.36 0.189 1.17 1.65 16.086 17 13,555,757 8,881,925 353,003 4,066,165 17,981,591 35,721,648 30.00 2.261 11.38 15.18 19.866 13 10,198,076 6,824,760 311,687 2,982,079 15,462,150 29,131,253 29.24 1.929 10.24 11.38 18.840 4 3,357,681 2,057,165 41,316 1,084,086 2,519,441 6,590,395 32.29 4.303 16.45 3.76 26.158 20 20 70,550,054 60,723,975 13,978,015 21,526,717 265,330,588 408,528,995 30.51 0.811 5.27 78.99 15.397 12/17 20 215.27 (1) 104 12 145 83 ( )62 (2) 77 6 (3) Year-To-Month 104 1-12 105 1 14 (4) 12 ISM 48.2 55.3 50 29.2 5% 12 (PMI) 54.3 11 10.5% (ECB) 12 PMI 49.7 50 (5) 104 1-12 (TSE:922 /OTC:233 ) (TSE:929 /OTC:256 ) 77 EPS 0.821 0.988 48 29 104 9,307 8,338 10.41% 104 1-12 EPS 0.809 1.165 EPS 2.261 0.734 EPS 0.749 EPS 0.189 EPS 4.303 EPS 1.929 (6) 104 1-12 20 EPS 0.811 17 EPS 1.783 20 ROE 5.27% 5.32% (7) EPS 11.31 8.97 8.19 EPS -3.40-2.03-1.64 (8) 104 1~12 2,804.8 10.6% 39% 12.3% 105 104 0.75% 105 1.74% 104 105

88 2016 TAIWAN SECURITIES ASSOCIATION ( ) (104 1-12 ) ( ) ( ) ( ) ( ) ( ) ( ) 1 17,090,753 1 9,837,051 1 11.307 2 8,822,805 2 2,595,349 2 8.970 3 5,912,936 3 1,556,703 3 8.186 4 5,290,477 4 1,546,532 4 5.444 5 5,003,528 5 1,350,952 5 4.940 6 4,817,453 6 1,283,327 6 4.713 7 3,510,820 7 1,265,311 7 2.987 8 3,356,803 8 1,035,545 8 2.127 9 2,869,616 9 956,614 9 2.025 10 2,408,971 10 854,280 10 1.783 ( ) ( ) ( ) ( ) ( ) ( ) 1 17,090,753 1 9,837,051 1 8.970 2 8,822,805 2 2,595,349 2 8.186 3 5,912,936 3 1,556,703 3 5.444 4 5,290,477 4 1,546,532 4 4.940 5 5,003,528 5 1,350,952 5 4.713 ( ) ( ) ( ) () () ( ) 1 2,142,121 1 1,283,327 1 11.307 2 721,038 2 70,764 2 2.127 3 393,808 3 48,895 3 1.479 4 305,440 4 42,537 4 1.019 5 275,169 5 21,621 5 0.638 11.42% 3.76% 1.65% 證券商收益 本國綜合證券商本國專業經紀商 83.17% 外國綜合證券商外國專業經紀商 11.41% 4.15% 證券商稅後淨利 0.59% 本國綜合證券商本國專業經紀商 83.25% 外國綜合證券商外國專業經紀商 證券商每股盈餘 4.500 4.000 3.500 3.000 2.500 2.000 1.500 1.000 0.500 0.000 本國綜合證券商 本國專業經紀商 外國綜合證券商 外國專業經紀商 0.749 0.189 1.929 4.303 ( )

105 89 ( ) (104 1-12 ) ( ) ( ) EPS( ) ROE( ) ( ) ( ) 1020 692,497 553,663 55,904 171,436 4,724,200 5,201,608 24.76 0.363 3.30 0.773 11.01 1040 567,870 478,400 53,360 121,838 3,000,000 3,514,233 21.46 0.406 3.47 0.634 11.71 1090 447,335 577,380 52,138-79,670 3,357,510 3,306,727-17.81-0.237-2.41 0.499 9.85 1160 3,356,803 2,778,975 387,608 854,280 11,572,128 21,826,711 25.45 0.738 3.91 3.747 18.86 1260 406,089 940,245 314,912-271,121 4,268,388 4,776,051-66.76-0.635-5.68 0.453 11.19 1360 748,298 491,612 84,814 290,170 533,000 1,346,675 38.78 5.444 21.55 0.835 25.27 1440 1,596,079 983,419 30,874 507,722 1,700,000 4,139,507 31.81 2.987 12.27 1.781 24.35 1470 866,586 782,440 52,852 90,355 1,468,210 2,212,604 10.43 0.615 4.08 0.967 15.07 1480 998,162 584,957 13,690 354,324 395,000 2,179,206 35.50 8.970 16.26 1.114 55.17 1530 786,473 353,291 13,350 370,504 750,000 1,891,622 47.11 4.940 19.59 0.878 25.22 1560 459,066 475,750 5,301-10,003 1,140,000 1,310,856-2.18-0.088-0.76 0.512 11.50 1570 168,635 221,255 5,829-50,831 1,010,000 1,570,216-30.14-0.503-3.24 0.188 15.55 1590 742,137 408,262 27,038 308,703 655,000 2,168,080 41.60 4.713 14.24 0.828 33.10 1650 2,028,038 794,689 16,578 1,035,545 1,265,000 3,572,050 51.06 8.186 28.99 2.264 28.24 2180 35,123 422,826 76,757-331,738 7,137,143 9,898,951-944.50-0.465-3.35 0.039 13.87 5050 114,367 157,046 22,063-4,438 2,523,532 3,637,656-3.88-0.018-0.12 0.128 14.41 5110 36,875 76,205 5,202-34,128 760,000 521,466-92.55-0.449-6.54 0.041 6.86 5260 406,613 524,531 80,569-57,153 3,067,560 4,352,492-14.06-0.186-1.31 0.454 14.19 5380 1,583,356 1,482,870 63,755 173,567 6,400,000 6,529,355 10.96 0.271 2.66 1.767 10.20 5850 3,510,820 3,445,230 1,004,456 956,614 13,231,191 22,718,013 27.25 0.723 4.21 3.919 17.17 5920 5,912,936 4,156,573-5,486 1,556,703 15,706,883 21,949,559 26.33 0.991 7.09 6.600 13.97 6010 犇 92,927 193,937 71,800-34,849 1,137,554 1,933,288-37.50-0.306-1.80 0.104 17.00 6110 142,834 214,518 28,743-41,901 1,500,000 1,437,149-29.34-0.279-2.92 0.159 9.58 6160 1,246,656 1,019,984 59,341 240,959 6,027,140 7,451,842 19.33 0.400 3.23 1.391 12.36 6480 312,447 241,704 90,329 132,940 2,300,000 2,580,522 42.55 0.578 5.15 0.349 11.22 6530 866,002 783,681 96,858 163,465 3,777,618 4,854,267 18.88 0.433 3.37 0.967 12.85 6910 138,214 213,914 53,512-22,197 1,375,500 1,397,448-16.06-0.161-1.59 0.154 10.16 7000 2,869,616 2,644,666 168,504 331,740 11,600,000 14,550,639 11.56 0.286 2.28 3.203 12.54 7030 225,007 225,428 31,702 31,746 2,122,836 2,848,013 14.11 0.150 1.11 0.251 13.42

90 2016 TAIWAN SECURITIES ASSOCIATION ( ) (104 1-12 ) ( ) ( ) EPS( ) ROE( ) ( ) ( ) 7790 1,972,505 1,874,138 31,564 65,735 9,100,000 9,607,805 3.33 0.072 0.68 2.202 10.56 8150 310,923 487,394 4,081-175,997 3,059,124 3,422,886-56.60-0.575-5.14 0.347 11.19 8440 709,119 564,653 38,842 148,320 1,495,000 3,341,852 20.92 0.992 4.44 0.791 22.35 8450 1,576,941 1,486,130 145,643 225,962 6,883,368 7,707,931 14.33 0.328 2.93 1.760 11.20 8560 696,840 427,014 86,438 297,642 1,470,000 2,542,935 42.71 2.025 11.70 0.778 17.30 8840 1,197,494 1,117,251 116,426 158,394 4,000,000 4,766,974 13.23 0.396 3.32 1.337 11.92 8880 2,408,971 1,828,200 14,502 536,939 4,950,000 6,838,818 22.29 1.085 7.85 2.689 13.82 8890 292,958 363,118 17,658-41,667 3,000,000 3,348,492-14.22-0.139-1.24 0.327 11.16 8910 317,882 494,573 1,205-171,877 1,050,940 704,731-54.07-1.635-24.39 0.355 6.71 8960 484,643 306,741 3,656 150,814 1,000,000 1,345,362 31.12 1.508 11.21 0.541 13.45 9100 5,003,528 3,821,931 599,954 1,546,532 23,190,730 30,317,200 30.91 0.667 5.10 5.585 13.07 9200 8,822,805 8,527,654 2,436,009 2,595,349 37,988,123 61,326,374 29.42 0.683 4.23 9.848 16.14 9300 2,134,391 1,989,194 300,183 349,693 8,111,743 11,759,753 16.38 0.431 2.97 2.382 14.50 9600 5,290,477 4,625,077 801,209 1,350,952 16,643,550 31,577,985 25.54 0.812 4.28 5.905 18.97 9800 17,090,753 12,393,499 5,904,465 9,837,051 55,172,835 101,311,536 57.56 1.783 9.71 19.076 18.36 9A00 4,817,453 4,808,471 1,409,217 1,265,311 16,212,238 25,452,504 26.27 0.780 4.97 5.377 15.70 1380 721,038 803,864 2,757-80,069 395,000 611,352-11.10-2.027-13.10 0.805 15.48 1520 2,142,121 634,332 33,505 1,283,327 1,135,000 5,028,776 59.91 11.307 25.52 2.391 44.31 1660 100,714 234,621 1,493-132,414 389,441 257,661-131.48-3.400-51.39 0.112 6.62 5320 117,850 128,017 97,693 70,764 478,555 1,084,922 60.05 1.479 6.52 0.132 22.67 5460 12,870 25,149-15,236-27,515 312,000 328,861-213.79-0.882-8.37 0.014 10.54 5600 118,118 157,322 27,944-10,988 323,000 766,679-9.30-0.340-1.43 0.132 23.74 5660 40,173 46,358 8,051 1,498 203,400 380,312 3.73 0.074 0.39 0.045 18.70 5860 26,723 22,412 16,228 17,121 268,438 592,934 64.07 0.638 2.89 0.030 22.09 5870 41,277 36,913 20,145 20,388 200,000 509,951 49.39 1.019 4.00 0.046 25.50 5960 63,846 60,850 15,206 15,331 361,538 807,018 24.01 0.424 1.90 0.071 22.32 6210 33,187 37,038-169 -4,571 235,400 272,388-13.77-0.194-1.68 0.037 11.57 6380 129,429 119,490-15,062-5,123 440,783 701,639-3.96-0.116-0.73 0.144 15.92

105 91 ( ) (104 1-12 ) ( ) ( ) EPS( ) ROE( ) ( ) ( ) 6450 89,790 101,157 37,508 21,621 461,908 801,235 24.08 0.468 2.70 0.100 17.35 6460 305,440 274,667 28,624 48,895 900,000 1,509,682 16.01 0.543 3.24 0.341 16.77 6620 5,830 10,953 14,674 9,551 200,000 111,839 163.83 0.478 8.54 0.007 5.59 6950 53,814 51,195 4,982 6,002 255,000 502,597 11.15 0.235 1.19 0.060 19.71 7020 30,114 27,133 2,671 4,849 200,000 338,205 16.10 0.242 1.43 0.034 16.91 7070 18,552 22,195 5,428 1,646 200,000 363,363 8.87 0.082 0.45 0.021 18.17 7080 16,501 51,627 2,058-33,068 250,000 115,064-200.40-1.323-28.74 0.018 4.60 7120 3,764 12,625 1,652-7,209 200,000 75,026-191.52-0.360-9.61 0.004 3.75 7670 41,400 40,181 2,689 2,417 300,300 415,986 5.84 0.080 0.58 0.046 13.85 7750 39,089 53,447 682-13,676 239,451 305,342-34.99-0.571-4.48 0.044 12.75 7900 19,724 29,890 5,515-4,070 238,000 306,560-20.63-0.171-1.33 0.022 12.88 8380 79,693 78,905 18,804 16,688 300,000 654,194 20.94 0.556 2.55 0.089 21.81 8490 17,832 23,811-8,257-14,236 200,000 308,559-79.83-0.712-4.61 0.020 15.43 8520 30,431 43,421 56,160 42,537 200,000 499,968 139.78 2.127 8.51 0.034 25.00 8660 5,814 12,189 4,769-2,368 230,000 203,852-40.73-0.103-1.16 0.007 8.86 8710 72,117 79,531 20,541 13,099 502,000 561,413 18.16 0.261 2.33 0.081 11.18 8770 20,905 30,089 3,523-5,661 200,000 241,447-27.08-0.283-2.34 0.023 12.07 8850 39,783 59,250 9,827-11,144 200,000 270,655-28.01-0.557-4.12 0.045 13.53 8900 393,808 384,348 3,561 13,242 600,000 692,606 3.36 0.221 1.91 0.441 11.54

268 8 2 (02)2737-4721 (02)2735-0822 http://www.twsa.org.tw

104 10 25 2015 104 10 27 104 12 25

中華民國證券商業同業公會 TAIWAN SECURITIES ASSOCIATION 268 82 TEL: 02-2737-4721 FAX: 02-2735-0822 http://www.twsa.org.tw