Unknown Executive

Thank you for joining Fubon Financial's First Quarter Results Briefing. We'll begin with an overview of the holding company's operating highlights and then we'll go through the key subsidiaries.

Please turn to Page 5. At the holding company level, the Board of Directors announced cash dividend per share of $4.25 in year '25 which is a cash payout ratio of 50.8%. And the company's net income reached over $33 billion and EPS of $2.40 in first quarter '26. If we further include the FVOCI equity disposal gain and losses, the adjusted net income will be $66.35 billion. adjusted EPS will be $4.74. The total assets exceeded $13 trillion. That is up by over 8% and the net worth exceeds $1 trillion. That is up by 11.5% year-over-year.

And looking at the major subsidiaries. Firstly, the Fubon Life, reported a net income of over $15 billion or adjusted net income of over $47 billion. That is also a record high on the adjusted basis. And in the meantime, the foreign currency reserve balance that $147.4 billion that reached the highest level in the life industry. And next, the Taipei Fubon Bank, it delivered net income of over $12 billion. That is up by more than 20% year-over-year, which is another record high. And this is supported by its strong growth in both the net interest income and fee income.

In Fubon Securities, its net income reached over $4 billion and it was up by 154% year-over-year, and that's a beneficiary from the strong capital market in Taiwan. In Fubon Insurance, its net income reached over $2.5 billion or adjusted net income of $2.94 billion. We see the premium growth and the improvement in its net combined ratio.