Chunghwa Telecom Co Ltd 6-K, filed Aug 9, 2024

Chunghwa Telecom Co Ltd (CHT)

6-K 2024-08-09 For: 2024-08-09

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Added on July 07, 2026

About this 6-K

Chunghwa Telecom Co Ltd filed this 6-K on August 9, 2024.

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Exhibit		Description

99.1		To announce the differences between consolidated financial statements for the six months ended June 30, 2024 under Taiwan-IFRSs and that under IFRSs

99.2		Consolidated Financial Statements for the Six Months Ended June 30, 2024 and 2023 and Independent Auditors’ Review Report pursuant to International Financial Reporting Standards adopted by ROC (“Taiwan-IFRSs”)

99.3		Consolidated Financial Statements for the Six Months Ended June 30, 2024 and 2023 pursuant to International Financial Reporting Standards issued by the International Accounting Standards Board (“IFRSs”)


Chunghwa Telecom Co., Ltd.

By:		/s/ Yu-Shen Chen
Name:		Yu-Shen Chen
Title:		Chief Financial Officer


	June 30, 2024				December 31, 2023				June 30, 2023
	Amount		%		Amount		%		Amount		%
ASSETS
CURRENT ASSETS
Cash and cash equivalents (Note 6)	$	37,711,905		7	$	33,823,884		6	$	49,754,425		10
Financial assets at fair value through profit or loss (Note 7)		1,539		—		904		—		3,878		—
Hedging financial assets (Note 20)		313		—		—		—		9,932		—
Contract assets (Note 29)		7,495,318		1		6,713,227		1		6,709,840		1
Trade notes and accounts receivable, net (Notes 9 and 29)		23,630,846		5		24,841,995		5		21,996,030		4
Receivables from related parties (Note 37)		86,178		—		78,089		—		100,950		—
Inventories (Note 10)		11,071,753		2		11,520,765		2		10,773,399		2
Prepayments (Note 11)		6,370,093		1		2,839,471		1		5,401,906		1
Other current monetary assets (Note 12)		32,416,618		6		20,352,050		4		18,633,936		3
Incremental costs of obtaining contracts (Note 29)		281,637		—		210,923		—		—		—
Other current assets (Notes 19 and 38)		3,808,980		1		2,822,259		1		3,681,675		1

Total current assets		122,875,180		23		103,203,567		20		117,065,971		22

NONCURRENT ASSETS
Financial assets at fair value through profit or loss (Note 7)		1,071,625		—		1,035,701		—		1,028,334		—
Financial assets at fair value through other comprehensive income (Note 8)		4,965,921		1		4,412,343		1		3,928,302		1
Investments accounted for using equity method (Note 14)		8,394,349		2		8,450,199		2		7,087,064		1
Contract assets (Note 29)		4,165,895		1		3,768,645		1		3,414,107		1
Property, plant and equipment (Notes 15, 34, 37 and 38)		284,970,301		53		292,337,742		56		287,487,367		54
Right-of-use assets (Notes 16 and 37)		11,130,387		2		11,237,814		2		11,159,864		2
Investment properties (Note 17)		11,505,658		2		9,805,463		2		10,157,560		2
Intangible assets (Notes 18 and 37)		69,488,813		13		72,726,545		13		75,901,595		14
Deferred income tax assets (Note 3)		2,063,121		—		2,099,439		—		2,138,550		—
Incremental costs of obtaining contracts (Note 29)		1,059,621		—		939,409		—		950,431		—
Net defined benefit assets (Note 3)		6,278,381		1		5,963,259		1		5,578,735		1
Prepayments (Notes 11 and 39)		3,895,015		1		3,330,583		1		2,749,674		1
Other noncurrent assets (Notes 19, 38 and 39)		4,571,973		1		4,628,692		1		4,379,905		1

Total noncurrent assets		413,561,060		77		420,735,834		80		415,961,488		78

TOTAL	$	536,436,240		100	$	523,939,401		100	$	533,027,459		100

LIABILITIES AND EQUITY
CURRENT LIABILITIES
Short-term loans (Note 21)	$	365,000		—	$	585,000		—	$	654,000		—
Financial liabilities at fair value through profit or loss (Note 7)		141		—		—		—		—		—
Hedging financial liabilities (Note 20)		212		—		44		—		—		—
Contract liabilities (Notes 29 and 39)		15,219,078		3		14,088,416		3		12,763,432		2
Trade notes and accounts payable (Note 24)		9,826,528		2		14,395,740		3		10,518,881		2
Payables to related parties (Note 37)		225,571		—		385,089		—		265,966		—
Current tax liabilities (Note 3)		4,747,572		1		4,626,265		1		5,128,892		1
Lease liabilities (Notes 16, 34 and 37)		3,561,502		1		3,504,990		1		3,330,367		1
Dividends payable (Note 28)		36,909,931		7		—		—		36,475,514		7
Other payables (Notes 25 and 34)		22,466,992		4		25,256,926		5		22,348,519		4
Provisions (Note 26)		317,116		—		337,406		—		224,017		—
Current portion of long-term loans (Notes 22 and 38)		1,600,000		—		1,600,000		—		—		—
Other current liabilities		978,980		—		983,339		—		894,366		—

Total current liabilities		96,218,623		18		65,763,215		13		92,603,954		17

NONCURRENT LIABILITIES
Long-term loans (Notes 22 and 38)		—		—		—		—		1,600,000		—
Bonds payable (Note 23)		30,485,537		6		30,482,766		6		30,480,098		6
Contract liabilities (Note 29)		7,724,889		1		7,560,352		2		7,589,167		2
Deferred income tax liabilities (Note 3)		2,572,860		1		2,460,509		—		2,367,566		—
Provisions (Note 26)		498,285		—		485,267		—		473,529		—
Lease liabilities (Notes 16, 34 and 37)		7,452,555		1		7,470,191		2		7,326,764		2
Customers’ deposits (Note 37)		5,136,924		1		5,309,097		1		5,069,394		1
Net defined benefit liabilities (Note 3)		2,137,615		1		2,098,106		—		2,271,964		—
Other noncurrent liabilities		6,916,569		1		7,405,558		1		6,482,764		1

Total noncurrent liabilities		62,925,234		12		63,271,846		12		63,661,246		12

Total liabilities		159,143,857		30		129,035,061		25		156,265,200		29

EQUITY ATTRIBUTABLE TO STOCKHOLDERS OF THE PARENT (Notes 13 and 28)
Common stocks		77,574,465		14		77,574,465		15		77,574,465		15

Additional paid-in capital		171,351,359		32		171,289,086		32		171,302,354		32

Retained earnings
Legal reserve		77,574,465		14		77,574,465		15		77,574,465		15
Special reserve		2,675,419		1		2,898,503		1		2,898,503		1
Unappropriated earnings		35,143,469		7		52,618,677		10		35,152,768		6

Total retained earnings		115,393,353		22		133,091,645		26		115,625,736		22

Others		721,309		—		352,892		—		217,854		—

Total equity attributable to stockholders of the parent		365,040,486		68		382,308,088		73		364,720,409		69
NONCONTROLLING INTERESTS (Notes 13 and 28)		12,251,897		2		12,596,252		2		12,041,850		2

Total equity		377,292,383		70		394,904,340		75		376,762,259		71

TOTAL	$	536,436,240		100	$	523,939,401		100	$	533,027,459		100


	Three Months Ended June 30											Six Months Ended June 30
	2024						2023					2024					2023
	Amount			%			Amount			%		Amount			%		Amount			%
REVENUES (Notes 29, 37 and 42)	$	54,115,733			100		$	53,463,651			100	$	109,059,204			100	$	107,674,556			100
OPERATING COSTS (Notes 10, 27, 30 and 37)		33,286,141			62			33,076,273			62		67,740,433			62		66,706,089			62

GROSS PROFIT		20,829,592			38			20,387,378			38		41,318,771			38		40,968,467			38

OPERATING EXPENSES (Notes 9, 27, 30 and 37)
Marketing		6,189,996			11			5,603,963			10		12,121,515			11		11,275,713			10
General and administrative		1,680,050			3			1,630,787			3		3,317,157			3		3,287,912			3
Research and development		1,004,688			2			923,220			2		1,947,755			2		1,901,258			2
Expected credit loss (reversal of credit loss)		24,155			—			(29,559	)		—		79,941			—		70,809			—

Total operating expenses		8,898,889			16			8,128,411			15		17,466,368			16		16,535,692			15

OTHER INCOME AND EXPENSES (Note 30)		(3,209	)		—			1,671			—		(689	)		—		1,627			—

INCOME FROM OPERATIONS		11,927,494			22			12,260,638			23		23,851,714			22		24,434,402			23

NON-OPERATING INCOME AND EXPENSES
Interest income (Note 37)		238,965			—			200,832			—		394,765			—		318,543			—
Other income (Notes 30 and 37)		287,633			1			204,143			—		325,402			—		248,929			—
Other gains and losses (Notes 30, 36 and 37)		(32,887	)		—			(48,797	)		—		(94,151	)		—		(152,761	)		—
Interest expenses (Notes 16, 30 and 37)		(83,173	)		—			(77,661	)		—		(166,460	)		—		(153,073	)		—
Share of profits of associates and joint ventures accounted for using equity method (Note 14)		8,693			—			120,505			—		23,195			—		223,613			—

Total non-operating income and expenses		419,231			1			399,022			—		482,751			—		485,251			—

INCOME BEFORE INCOME TAX		12,346,725			23			12,659,660			23		24,334,465			22		24,919,653			23
INCOME TAX EXPENSE (Notes 3 and 31)		2,235,520			4			2,452,971			4		4,619,077			4		4,839,918			4

NET INCOME		10,111,205			19			10,206,689			19		19,715,388			18		20,079,735			19

TOTAL OTHER COMPREHENSIVE INCOME (LOSS)
Items that will not be reclassified to profit or loss:
Unrealized gain or loss on investments in equity instruments at fair value through other comprehensive income (Notes 28 and 36)		(385,670	)		(1	)		(111,911	)		—		240,798			—		436,921			—
Gain or loss on hedging instruments subject to basis adjustment (Note 20)		72			—			8,736			—		145			—		(2,959	)		—
Share of other comprehensive income (loss) of associates and joint ventures (Note 14)		1,363			—			(2,461	)		—		1,239			—		7,652			—

		(384,235	)		(1	)		(105,636	)		—		242,182			—		441,614			—


	Three Months Ended June 30											Six Months Ended June 30
	2024						2023					2024				2023
	Amount			%			Amount			%		Amount		%		Amount		%
Items that may be reclassified subsequently to profit or loss:
Exchange differences arising from the translation of the foreign operations	$	33,070			—		$	54,038			—	$	136,849		—	$	6,815		—
Share of other comprehensive income of associates and joint ventures (Note 14)		(4,262	)		—			2,940			—		21,370		—		2,120		—

		28,808			—			56,978			—		158,219		—		8,935		—

Total other comprehensive income (loss), net of income tax		(355,427	)		(1	)		(48,658	)		—		400,401		—		450,549		—

TOTAL COMPREHENSIVE INCOME	$	9,755,778			18		$	10,158,031			19	$	20,115,789		18	$	20,530,284		19

NET INCOME ATTRIBUTABLE TO
Stockholders of the parent	$	9,819,867			17		$	9,921,274			18	$	19,211,286		18	$	19,564,529		19
Noncontrolling interests		291,338			1			285,415			1		504,102		—		515,206		—

	$10,111,205			18			$10,206,689			19		$19,715,388		18		$20,079,735		19

COMPREHENSIVE INCOME ATTRIBUTABLE TO
Stockholders of the parent	$	9,460,822			17		$	9,872,306			18	$	19,580,056		18	$	20,015,580		19
Noncontrolling interests		294,956			1			285,725			1		535,733		—		514,704		—

	$9,755,778			18			$10,158,031			19		$20,115,789		18		$20,530,284		19

EARNINGS PER SHARE (Note 32)
Basic	$	1.27					$	1.28				$	2.48			$	2.52

Diluted	$	1.27					$	1.28				$	2.47			$	2.52


The accompanying notes are an integral part of the consolidated financial statements.		(Concluded)


	Equity Attributable to Stockholders of the Parent (Notes 13, 20 and 28)
														Others
																	Unrealized Gain
														Exchange			or Loss on
														Differences			Financial Assets
														Arising from the			at Fair Value
						Retained Earnings								Translation of			Through Other			Gain or Loss						Noncontrolling
			Additional								Unappropriated			the Foreign			Comprehensive			on Hedging						Interests
	Common Stocks		Paid-in Capital			Legal Reserve		Special Reserve			Earnings			Operations			Income			Instruments			Total			(Notes 13 and 28)			Total Equity
BALANCE, JANUARY 1, 2023	$	77,574,465	$	171,300,898		$	77,574,465	$	3,083,569		$	51,868,574		$	(111,213	)	$	(124,762	)	$	12,891		$	381,178,887		$	12,599,541		$	393,778,428
Appropriation of 2022 earnings
Special reserve		—		—			—		(185,066	)		185,066			—			—			—			—			—			—
Cash dividends recognized by Chunghwa		—		—			—		—			(36,475,514	)		—			—			—			(36,475,514	)		—			(36,475,514	)
Cash dividends recognized by subsidiaries		—		—			—		—			—			—			—			—			—			(1,091,670	)		(1,091,670	)
Change in additional paid-in capital from investments in associates and joint ventures accounted for using equity method		—		(134	)		—		—			—			—			—			—			(134	)		—			(134	)
Net income for the six months ended June 30, 2023		—		—			—		—			19,564,529			—			—			—			19,564,529			515,206			20,079,735
Other comprehensive income (loss) for the six months ended June 30, 2023		—		—			—		—			10,113			8,128			435,769			(2,959	)		451,051			(502	)		450,549

Total comprehensive income (loss) for the six months ended June 30, 2023		—		—			—		—			19,574,642			8,128			435,769			(2,959	)		20,015,580			514,704			20,530,284

Share-based payment transactions of subsidiaries		—		1,590			—		—			—			—			—			—			1,590			19,275			20,865

BALANCE, JUNE 30, 2023	$	77,574,465	$	171,302,354		$	77,574,465	$	2,898,503		$	35,152,768		$	(103,085	)	$	311,007		$	9,932		$	364,720,409		$	12,041,850		$	376,762,259

BALANCE, JANUARY 1, 2024	$	77,574,465	$	171,289,086		$	77,574,465	$	2,898,503		$	52,618,677		$	(167,812	)	$	520,748		$	(44	)	$	382,308,088		$	12,596,252		$	394,904,340
Appropriation of 2023 earnings
Special reserve		—		—			—		(223,084	)		223,084			—			—			—			—			—			—
Cash dividends recognized by Chunghwa		—		—			—		—			(36,909,931	)		—			—			—			(36,909,931	)		—			(36,909,931	)
Cash dividends recognized by subsidiaries		—		—			—		—			—			—			—			—			—			(897,678	)		(897,678	)
Change in additional paid-in capital from investments in associates and joint ventures accounted for using equity method		—		62,678			—		—			—			—			—			—			62,678			(1,728	)		60,950
Net income for the six months ended June 30, 2024		—		—			—		—			19,211,286			—			—			—			19,211,286			504,102			19,715,388
Other comprehensive income for the six months ended June 30, 2024		—		—			—		—			353			134,616			233,656			145			368,770			31,631			400,401

Total comprehensive income for the six months ended June 30, 2024		—		—			—		—			19,211,639			134,616			233,656			145			19,580,056			535,733			20,115,789

Share-based payment transactions of subsidiaries		—		(405	)		—		—			—			—			—			—			(405	)		18,279			17,874
Net increase in noncontrolling interests		—		—			—		—			—			—			—			—			—			1,039			1,039

BALANCE, JUNE 30, 2024	$	77,574,465	$	171,351,359		$	77,574,465	$	2,675,419		$	35,143,469		$	(33,196	)	$	754,404		$	101		$	365,040,486		$	12,251,897		$	377,292,383


			Percentage of Ownership Interests
Name of Investor	Name of Investee	Main Businesses and Products	June 30, 2024		December 31, 2023		June 30, 2023		Note
Chunghwa Telecom Co., Ltd.	Senao International Co., Ltd. (“SENAO”)	Handset and peripherals retailer, sales of CHT mobile phone plans as an agent		28		28		28	a.
	Light Era Development Co., Ltd. (“LED”)	Planning and development of real estate and intelligent buildings, and property management		100		100		100
	Donghwa Telecom Co., Ltd. (“DHT”)	International private leased circuit, IP VPN service, and IP transit services		100		100		100
	Chunghwa Telecom Singapore Pte., Ltd. (“CHTS”)	International private leased circuit, IP VPN service, and IP transit services		100		100		100
	Chunghwa System Integration Co., Ltd. (“CHSI”)	Providing system integration services and telecommunications equipment		100		100		100
	Chunghwa Investment Co., Ltd. (“CHI”)	Investment		89		89		89
	CHIEF Telecom Inc. (“CHIEF”)	Network integration, internet data center (“IDC”), communications integration and cloud application services		56		56		56	b.
	CHYP Multimedia Marketing & Communications Co., Ltd. (“CHYP”)	Digital information supply services and advertisement services		100		100		100
	Prime Asia Investments Group Ltd. (“Prime Asia”)	Investment		100		100		100
	Spring House Entertainment Tech. Inc. (“SHE”)	Software design services, internet contents production and play, and motion picture production and distribution		56		56		56
	Chunghwa Telecom Global, Inc. (“CHTG”)	International private leased circuit, internet services, and transit services		100		100		100
	Chunghwa Telecom Vietnam Co., Ltd. (“CHTV”)	Intelligent energy saving solutions, international circuit, and information and communication technology (“ICT”) services.		100		100		100
	Smartfun Digital Co., Ltd. (“SFD”)	Providing diversified family education digital services		65		65		65
	Chunghwa Telecom Japan Co., Ltd. (“CHTJ”)	International private leased circuit, IP VPN service, and IP transit services		100		100		100
	Chunghwa Sochamp Technology Inc. (“CHST”)	Design, development and production of Automatic License Plate Recognition software and hardware		37		37		37	c.
	Honghwa International Co., Ltd. (“HHI”)	Telecommunications engineering, sales agent of mobile phone plan application and other business services, etc.		100		100		100
	Chunghwa Leading Photonics Tech Co., Ltd. (“CLPT”)	Production and sale of electronic components and finished products		75		75		75	d.


New, Revised or Amended Standards and Interpretations		Effective Date Announced by IASB
Amendments to IFRS 9 and IFRS 7	Amendments to the classification and measurement of financial Instruments	January 1, 2026
Amendments to IFRS 10 and IAS 28	Sale or Contribution of Assets between An Investor and Its Associate or Joint Venture	To be determined by IASB
IFRS 18	Presentation and Disclosure in Financial Statements	January 1, 2027
IFRS 19	Subsidiaries without public accountability: disclosures	January 1, 2027
Amendments to IFRS Accounting Standards	Annual Improvements - Volume 11	January 1, 2026


	June 30, 2024		December 31, 2023		June 30, 2023
Cash
Cash on hand	$	431,744	$	403,536	$	337,483
Bank deposits		11,250,075		9,522,341		9,182,377

		11,681,819		9,925,877		9,519,860

Cash equivalents (with maturities of less than three months)
Commercial papers		15,960,205		14,496,056		24,891,477
Negotiable certificates of deposit		6,800,000		5,900,000		11,200,000
Time deposits		3,268,548		3,501,671		4,142,902
Stimulus vouchers		1,333		280		186

		26,030,086		23,898,007		40,234,565

	$	37,711,905	$	33,823,884	$	49,754,425


	Not Past Due			Past Due Less than 30 Days			Past Due 31 to 60 Days			Past Due 61 to 90 Days			Past Due 91 to 120 Days			Past Due 121 to 180 Days			Past Due over 180 Days			Total
Telecommunications business
Expected credit loss rate (Note a)		0%~1%			1%~20%			3%~65%			11%~82%			23%~91%			34%~96%			100	%
Gross carrying amount	$	17,858,251		$	440,927		$	128,538		$	72,157		$	36,539		$	24,735		$	577,263		$	19,138,410
Loss allowance (lifetime ECL)		(49,981	)		(21,258	)		(34,851	)		(32,498	)		(24,954	)		(23,100	)		(577,263	)		(763,905	)

Amortized cost	$	17,808,270		$	419,669		$	93,687		$	39,659		$	11,585		$	1,635		$	—		$	18,374,505

Project business
Expected credit loss rate (Note b)		0%~5%			5	%		10	%		30	%		50	%		80	%		100	%
Gross carrying amount	$	2,356,285		$	64,270		$	46,118		$	46,627		$	6,141		$	6		$	281,109		$	2,800,556
Loss allowance (lifetime ECL)		(2,946	)		(3,214	)		(4,612	)		(32,379	)		(3,070	)		(5	)		(281,109	)		(327,335	)

Amortized cost	$	2,353,339		$	61,056		$	41,506		$	14,248		$	3,071		$	1		$	—		$	2,473,221


	Principal		Proportion of Ownership Interests and Voting Rights Held by Noncontrolling Interests
Subsidiaries	Place of Business		June 30, 2024	December 31, 2023	June 30, 2023
SENAO		Taiwan	72%	72%	72%
CHPT		Taiwan	66%	66%	66%


	Profit Allocated to Noncontrolling Interests
	Three Months Ended June 30				Six Months Ended June 30
	2024		2023		2024		2023
SENAO	$	67,818	$	121,353	$	164,644	$	262,551

CHPT	$	34,870	$	15,427	$	37,255	$	(11,405	)


	Accumulated Noncontrolling Interests
	June 30, 2024		December 31, 2023		June 30, 2023
SENAO	$	4,481,652	$	4,666,876	$	4,447,611
CHPT		5,030,999		4,995,300		4,992,674
Individually immaterial subsidiaries with noncontrolling interests		2,739,246		2,934,076		2,601,565

	$	12,251,897	$	12,596,252	$	12,041,850


	Six Months Ended June 30, 2024
	CHTSC Share-Based Payment
Cash consideration received from noncontrolling interests (Note)	$	13,245
The proportionate share of the carrying amount of the net assets of the subsidiary transferred to noncontrolling interests		(13,650	)

Differences arising from equity transactions	$	(405	)

Line items for equity transaction adjustments
Additional paid-in capital - arising from changes in equities of subsidiaries	$	(405	)


/s/ Huang, Shih-Chun				/s/ Hsu, Chien-Yeh


	Six Months Ended June 30
	2024		2023
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	$	3,888,021	$	(438,179	)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		33,823,884		50,192,604

CASH AND CASH EQUIVALENTS, END OF PERIOD	$	37,711,905	$	49,754,425


	Six Months Ended June 30, 2023
	CHTSC Share-Based Payment			CLPT Share-Based Payment
Cash consideration received from noncontrolling interests (Note)	$	15,173		$	874
The proportionate share of the carrying amount of the net assets of the subsidiary transferred to noncontrolling interests		(13,507	)		(950	)

Differences arising from equity transactions	$	1,666		$	(76	)

Line items for equity transaction adjustments
Additional paid-in capital - arising from changes in equities of subsidiaries	$	1,666		$	(76	)


	Carrying Amount
	June 30, 2024		December 31, 2023		June 30, 2023
Material associate
Non-listed
Next Commercial Bank Co., Ltd. (“NCB”)	$	4,112,887	$	4,293,338	$	2,984,516

Associates that are not individually material
Listed
Senao Networks, Inc. (“SNI”)		1,551,669		1,564,311		1,483,677
KingwayTek Technology Co., Ltd. (“KWT”)		264,415		266,407		260,023


	% of Ownership Interests and Voting Rights
	June 30, 2024		December 31, 2023		June 30, 2023
Material associate
Non-listed
Next Commercial Bank Co., Ltd. (“NCB”)		46		46		42
Associates that are not individually material
Listed
Senao Networks, Inc. (“SNI”)		34		34		34
KingwayTek Technology Co., Ltd. (“KWT”)		23		23		23


	Carrying Amount						% of Ownership Interests and Voting Rights
Name of Joint Venture	June 30, 2024		December 31, 2023		June 30, 2023		June 30, 2024			December 31, 2023			June 30, 2023
Non-listed
Chunghwa SEA Holdings (“CHT SEA”)	$	9,367	$	9,463	$	9,587		51	%		51	%		51	%


	Land			Land Improvements			Buildings			Computer Equipment			Telecommuni- cations Equipment			Transportation Equipment			Miscellaneous Equipment			Construction in Progress and Equipment to be Accepted			Total
Cost
Balance on January 1, 2023	$	103,663,528		$	1,675,255		$	72,529,774		$	11,088,877		$	720,068,323		$	3,971,039		$	11,467,527		$	14,427,497		$	938,891,820
Additions		95,567			—			12,302			45,157			36,184			1,248			80,714			10,435,377			10,706,549
Disposal		(1,672	)		—			—			(526,959	)		(12,522,117	)		(66,934	)		(174,843	)		—			(13,292,525	)
Effect of foreign exchange differences		—			—			—			16			20,528			(48	)		(903	)		1,887			21,480
Others		(1,049,463	)		6,954			(1,329,846	)		150,293			13,023,182			8,176			405,990			(13,563,590	)		(2,348,304	)

Balance on June 30, 2023	$	102,707,960		$	1,682,209		$	71,212,230		$	10,757,384		$	720,626,100		$	3,913,481		$	11,778,485		$	11,301,171		$	933,979,020

Accumulated depreciation and impairment
Balance on January 1, 2023	$	—		$	(1,474,085	)	$	(32,263,200	)	$	(9,553,580	)	$	(597,957,285	)	$	(3,672,728	)	$	(8,642,023	)	$	—		$	(653,562,901	)
Depreciation expenses		—			(17,062	)		(717,346	)		(342,302	)		(12,849,896	)		(45,232	)		(395,488	)		—			(14,367,326	)
Disposal		—			—			—			526,879			12,513,824			66,842			174,092			—			13,281,637
Effect of foreign exchange differences		—			—			—			(18	)		(12,586	)		51			1,235			—			(11,318	)
Others		—			—			537,612			(17,470	)		(38,119	)		(247	)		5,701			—			487,477

Balance on June 30, 2023	$	—		$	(1,491,147	)	$	(32,442,934	)	$	(9,386,491	)	$	(598,344,062	)	$	(3,651,314	)	$	(8,856,483	)	$	—		$	(654,172,431	)

Balance on January 1, 2023, net	$	103,663,528		$	201,170		$	40,266,574		$	1,535,297		$	122,111,038		$	298,311		$	2,825,504		$	14,427,497		$	285,328,919

Balance on June 30, 2023, net	$	102,707,960		$	191,062		$	38,769,296		$	1,370,893		$	122,282,038		$	262,167		$	2,922,002		$	11,301,171		$	279,806,589

Cost
Balance on January 1, 2024	$	102,885,454		$	1,709,236		$	71,754,783		$	11,044,831		$	721,434,979		$	4,049,661		$	12,091,029		$	15,937,187		$	940,907,160
Additions		—			—			8,214			4,681			41,164			2,880			43,746			8,563,466			8,664,151
Disposal		—			—			(5,916	)		(452,105	)		(13,262,926	)		(82,517	)		(239,133	)		—			(14,042,597	)
Effect of foreign exchange differences		—			—			—			31			128,887			65			7,891			11,443			148,317
Others		(578,499	)		11,066			(27,003	)		321,363			9,370,089			87,655			401,229			(10,173,936	)		(588,036	)

Balance on June 30, 2024	$	102,306,955		$	1,720,302		$	71,730,078		$	10,918,801		$	717,712,193		$	4,057,744		$	12,304,762		$	14,338,160		$	935,088,995

Accumulated depreciation and impairment
Balance on January 1, 2024	$	—		$	(1,507,932	)	$	(33,283,812	)	$	(9,221,060	)	$	(599,131,991	)	$	(3,654,724	)	$	(9,022,741	)	$	—		$	(655,822,260	)
Depreciation expenses		—			(17,094	)		(721,172	)		(372,860	)		(12,745,443	)		(60,944	)		(407,481	)		—			(14,324,994	)
Disposal		—			—			5,916			451,686			13,260,489			81,974			233,408			—			14,033,473
Effect of foreign exchange differences		—			—			—			(27	)		(78,654	)		19			(4,339	)		—			(83,001	)
Others		—			—			126,912			(121	)		(13,362	)		(294	)		(91,682	)		—			21,453

Balance on June 30, 2024	$	—		$	(1,525,026	)	$	(33,872,156	)	$	(9,142,382	)	$	(598,708,961	)	$	(3,633,969	)	$	(9,292,835	)	$	—		$	(656,175,329	)

Balance on January 1, 2024, net	$	102,885,454		$	201,304		$	38,470,971		$	1,823,771		$	122,302,988		$	394,937		$	3,068,288		$	15,937,187		$	285,084,900

Balance on June 30, 2024, net	$	102,306,955		$	195,276		$	37,857,922		$	1,776,419		$	119,003,232		$	423,775		$	3,011,927		$	14,338,160		$	278,913,666


Land improvements			10~30 years
Buildings
Main buildings			20~60 years
Other building facilities			3~15 years
Computer equipment			2~8 years
Telecommunications equipment
Telecommunication circuits			2~30 years
Telecommunication machinery and antennas equipment			2~30 years
Transportation equipment			2~10 years
Miscellaneous equipment
Leasehold improvements			1~18 years
Mechanical and air conditioner equipment			3~16 years
Others			1~15 years


Buildings
Main buildings			35~60 years
Other building facilities			3~15 years


Cost
Balance on January 1, 2023	$	10,780,029
Additions		48,103
Reclassification		327,724

Balance on June 30, 2023	$	11,155,856

Accumulated depreciation and impairment
Balance on January 1, 2023	$	(976,168	)
Depreciation expense		(22,128	)

Balance on June 30, 2023	$	(998,296	)

Balance on January 1, 2023, net	$	9,803,861

Balance on June 30, 2023, net	$	10,157,560

Cost
Balance on January 1, 2024	$	11,161,834
Reclassification		1,747,177

Balance on June 30, 2024	$	12,909,011

Accumulated depreciation and impairment
Balance on January 1, 2024	$	(1,356,371	)
Depreciation expense		(22,319	)
Reclassification		(24,663	)

Balance on June 30, 2024	$	(1,403,353	)

Balance on January 1, 2024, net	$	9,805,463

Balance on June 30, 2024, net	$	11,505,658


	Mobile Broadband Concession			Computer Software			Goodwill			Others			Total
Cost
Balance on January 1, 2023	$	109,963,431		$	2,797,835		$	291,206		$	421,813		$	113,474,285
Additions-acquired separately		—			66,106			—			1,758			67,864
Disposal		—			(125,607	)		—			(180	)		(125,787	)
Effect of foreign exchange differences		—			(136	)		—			(7	)		(143	)
Others		—			1,571			—			—			1,571

Balance on June 30, 2023	$	109,963,431		$	2,739,769		$	291,206		$	423,384		$	113,417,790

Accumulated amortization and impairment
Balance on January 1, 2023	$	(31,812,278	)	$	(2,176,234	)	$	(73,624	)	$	(225,062	)	$	(34,287,198	)
Amortization expenses		(3,195,069	)		(141,765	)		—			(17,582	)		(3,354,416	)
Disposal		—			125,607			—			180			125,787
Effect of foreign exchange differences		—			137			—			3			140
Others		—			(508	)		—			—			(508	)

Balance on June 30, 2023	$	(35,007,347	)	$	(2,192,763	)	$	(73,624	)	$	(242,461	)	$	(37,516,195	)

Balance on January 1, 2023, net	$	78,151,153		$	621,601		$	217,582		$	196,751		$	79,187,087

Balance on June 30, 2023, net	$	74,956,084		$	547,006		$	217,582		$	180,923		$	75,901,595

Cost
Balance on January 1, 2024	$	109,963,431		$	2,532,249		$	291,206		$	421,835		$	113,208,721
Additions-acquired separately		—			99,676			—			2,777			102,453
Disposal		—			(118,288	)		—			(7,360	)		(125,648	)
Effect of foreign exchange differences		—			214			—			(9	)		205
Others		—			4,609			—			—			4,609

Balance on June 30, 2024	$	109,963,431		$	2,518,460		$	291,206		$	417,243		$	113,190,340


	Change in Value of Hedged Item Used for			Accumulated Gain or Loss on Hedging Instruments in Other Equity
Hedged Items	Calculating Hedge Ineffectiveness			Continuing Hedges		Hedge Accounting No Longer Applied
Cash flow hedge
Forecast equipment purchases	$	(145	)	$	101	$	—


	Comprehensive Income						Reclassification from Equity to Assets and the Adjusted Line Item
Hedge Transaction	Hedging Gain or Loss Recognized in OCI		Amount of Hedge Ineffectiveness Recognized in Profit or Loss		Line Item in Which Hedge Ineffectiveness is Included		Amount Reclassified to Assets and the Adjusted Line Item		Due to Hedged Future Cash Flows No Longer Expected to Occur
Cash flow hedge
Forecast equipment purchases	$	145	$	—		—	$	2,497	$	—
								Construction in progress and equipment to be accepted		Other gains and losses


Issuance	Tranche	Issuance Period	Total Amount	Coupon Rate	Repayment and Interest Payment
2020-1	A	July 2020 to July 2025	$8,800,000	0.50%	One-time repayment upon maturity; interest payable annually
	B	July 2020 to July 2027	7,500,000	0.54%	The same as above
	C	July 2020 to July 2030	3,700,000	0.59%	The same as above
2021-1	A	April 2021 to April 2026	1,900,000	0.42%	The same as above
	B	April 2021 to April 2028	4,100,000	0.46%	The same as above
	C	April 2021 to April 2031	1,000,000	0.50%	The same as above
2022-1 (Sustainable Bond)	—	March 2022 to March 2027	3,500,000	0.69%	The same as above


	Employee Benefits			Warranties			Onerous Contracts			Others		Total
Balance on January 1, 2023	$	64,776		$	235,308		$	95,201		$	3,767	$	399,052
Additional / (reversal of) provisions recognized		308,224			39,341			(4,897	)		—		342,668
Used / forfeited during the period		(446	)		(43,700	)		—			—		(44,146	)
Effect of foreign exchange differences		—			(28	)		—			—		(28	)

Balance on June 30, 2023	$	372,554		$	230,921		$	90,304		$	3,767	$	697,546

Balance on January 1, 2024	$	387,082		$	237,873		$	194,651		$	3,067	$	822,673
Additional / (reversal of) provisions recognized		18,262			22,305			(20,389	)		—		20,178
Used / forfeited during the period		(4,405	)		(23,110	)		—			—		(27,515	)
Effect of foreign exchange differences		—			65			—			—		65

Balance on June 30, 2024	$	400,939		$	237,133		$	174,262		$	3,067	$	815,401


	Share Premium		Movements of Additional Paid-in Capital for Associates and Joint Ventures Accounted for Using Equity Method			Movements of Additional Paid-in Capital Arising from Changes in Equities of Subsidiaries			Difference between Consideration Received or Paid and Carrying Amount of the Subsidiaries’ Net Assets during Actual Disposal or Acquisition		Donated Capital		Stockholders’ Contribution due to Privatization		Total
Balance on January 1, 2023	$	147,329,386	$	173,672		$	2,137,032		$	987,611	$	25,119	$	20,648,078	$	171,300,898
Change in additional paid-in capital from investments in associates and joint ventures accounted for using equity method		—		(134	)		—			—		—		—		(134	)
Share-based payment transactions of subsidiaries		—		—			1,590			—		—		—		1,590

Balance on June 30, 2023	$	147,329,386	$	173,538		$	2,138,622		$	987,611	$	25,119	$	20,648,078	$	171,302,354

Balance on January 1, 2024	$	147,329,386	$	151,952		$	2,144,727		$	987,607	$	27,336	$	20,648,078	$	171,289,086
Change in additional paid-in capital from investments in associates and joint ventures accounted for using equity method		—		62,678			—			—		—		—		62,678
Share-based payment transactions of subsidiaries		—		—			(405	)		—		—		—		(405	)

Balance on June 30, 2024	$	147,329,386	$	214,630		$	2,144,322		$	987,607	$	27,336	$	20,648,078	$	171,351,359


	Appropriation of Earnings						Dividends Per Share (NT$)
	For Fiscal Year 2023			For Fiscal Year 2022			For Fiscal Year 2023		For Fiscal Year 2022
Reversal of special reserve	$	(223,084	)	$	(185,066	)
Cash dividends		36,909,931			36,475,514		$	4.758	$	4.702


	Three Months Ended June 30				Six Months Ended June 30
	2024		2023		2024		2023
Property, plant and equipment	$	7,162,728	$	7,211,911	$	14,360,955	$	14,407,397
Right-of-use assets		1,039,821		1,029,338		2,066,976		2,026,730
Investment properties		11,212		11,064		22,319		22,128
Intangible assets		1,672,640		1,676,910		3,344,912		3,354,416
Incremental costs of obtaining contracts		221,960		213,500		436,680		427,702

Total depreciation and amortization expenses	$	10,108,361	$	10,142,723	$	20,231,842	$	20,238,373

Depreciation expenses summarized by functions
Operating costs	$	7,685,649	$	7,735,469	$	15,387,382	$	15,391,520
Operating expenses		528,112		516,844		1,062,868		1,064,735

	$	8,213,761	$	8,252,313	$	16,450,250	$	16,456,255

Amortization expenses summarized by functions
Operating costs	$	1,846,888	$	1,843,472	$	3,685,677	$	3,687,574
Marketing expenses		22,333		17,651		42,766		35,048
General and administrative expenses		15,442		17,370		31,188		35,162
Research and development expenses		9,937		11,917		21,961		24,334

	$	1,894,600	$	1,890,410	$	3,781,592	$	3,782,118


	Cash
	2023		2022
Compensation distributed to the employees	$	1,522,481	$	1,498,374
Remuneration paid to the directors		39,797		39,480


	Six Months Ended June 30, 2024				Six Months Ended June 30, 2023
	Granted on November 13, 2020				Granted on November 13, 2020
	Number of Options		Weighted Average Exercise Price (NT$)		Number of Options			Weighted Average Exercise Price (NT$)
Employee stock options
Options outstanding at beginning of the period		93	$	171.70		142.25		$	193.50
Options forfeited		—		—		(1.50	)		—

Options outstanding at end of the period		93		171.70		140.75			193.50

Options exercisable at end of the period		—		—		0.50			193.50

Weighted average remaining contractual life (years)		1.37				2.37


	Stock Options Granted on November 13, 2020
Grant-date share price (NT$)	$	356.00
Exercise price (NT$)	$	206.00
Dividend yield		—
Risk-free interest rate		0.18	%
Expected life		5 years
Expected volatility		34.61	%
Weighted average fair value of grants (NT$)	$	173,893


	Six Months Ended June 30, 2024
	Granted on February 20, 2021					Granted on December 20, 2019
	Number of Options			Weighted Average Exercise Price (NT$)		Number of Options			Weighted Average Exercise Price (NT$)
Employee stock options
Options outstanding at beginning of the period		1,519		$	19.085		40		$	19.085
Options exercised		(689	)		19.085		(5	)		19.085
Options forfeited		(134	)		—		—			—

Options outstanding at end of the period		696			19.085		35			19.085

Options exercisable at end of the period		15		$	19.085		—		$	—

Weighted average remaining contractual life (years)		1.64					0.47