Fubon chairman：The situation of the US-China trade war is "not good”

Fubon Financial Holdings (2881-TW) held a shareholders meeting today on 14th. Regarding the US-China trade war, the chairman Richard M. Tsai bluntly told that the situation was "not good." He said that the market variables and the fluctuations of exchange rate this year are very large, the impact to global trade volume should be noticed in the future. "We must work very hard to become “the king of EPS again because everyone is doing very well." Tsai also told.

The company’s FY18 net profit reached NTD47.73bn (-12% YoY) with EPS of NTD4.52, the highest in the 10th consecutive year. Its total assets also reached a record high and reached more than NTD7tn. The company planned to distribute cash dividend of NTD2 per share, with a total of NTD20.47bn.

Tsai told that the situation of the US-China trade war is "not good” and the market variables and the fluctuations of exchange rate this year are very large. At present, it has not seen much progress and may have impact on the entire industry. The biggest risk this year is still the exchange rate and interest rate risk derived from the US-China trade war.