GOOD FINANCE Business Summary

Good Finance (6021.TWO), formerly Da Ching Securities, operates as a specialized financial services firm in Taiwan, generating revenue through a diversified mix of brokerage commissions, interest income from margin financing, and capital gains from proprietary trading. The company’s operations are divided into four primary segments: Brokerage (including futures and credit trading), Proprietary Trading (securities and bonds), Underwriting (IPO/SPO advisory), and Wealth Management, with a strategic emphasis on digital transformation and quantitative asset management. By integrating advanced fintech tools into its retail and institutional workflows, Good Finance has carved out a niche as a technology-driven boutique brokerage. In the local market, it competes directly with mid-tier firms such as Concord Securities (6016), President Securities (2855), and Horizon Securities (6015). While larger competitors rely on extensive physical branch networks, Good Finance positions itself as a digital-first alternative, leveraging its proprietary mobile ecosystem to capture a growing demographic of tech-savvy retail investors and high-net-worth individuals seeking value-oriented advisory services. The leadership team is anchored by Chairman Chuang Chao-Hung, who also leads Asia Value Capital (AVC), the primary institutional force behind the firm’s 2021 rebranding and strategic pivot. The executive suite is directed by General Manager (CEO) Chang Chih-Chao, a veteran of the Taiwanese securities industry renowned for his successful track record in proprietary trading and quantitative research at President Securities. Under this leadership, the firm has transitioned from a traditional family-run brokerage founded in 1988 into a modern investment house focused on the "Value Investing" philosophy championed by AVC. The board of directors includes key figures from Asia Value Capital and strategic partners like Ling-Net Technology, ensuring a robust intersection of financial engineering and digital infrastructure. This institutional backing and executive pedigree provide Good Finance with a distinct competitive advantage in research-driven wealth management and high-frequency proprietary trading within the TPEx-listed financial sector.