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- **Revenue Record**: Q3 revenue TWD 57.92B, highest in 9 years, driven by ICT and telecom growth.
- **AI Leadership**: Global AI City Challenge winner, 1/3 of Taiwan's AI patents, cybersecurity subsidiary IPO.
- **ESG Momentum**: Sustainability bonds for biodiversity, 5G restoration during typhoon.
- **International Growth**: US +70% YoY via AI projects, Japan/SEA cybersecurity adoption, SJC2 cable operational.

**【CEO Opening Remarks】**
- **Revenue Milestone**: Q3 revenue reached TWD 57.92 billion, highest in 9 years, driven by ICT expansion and core telecom growth.
- **Market Leadership**: Mobile revenue share rose to 40.8%, 5G subscriber share at 38.8%, with ARPU uplift of 40% from 5G migration.
- **AI & Innovation**: Launched InventAI subsidiary, won Global AI City Challenge, and holds 1/3 of Taiwan's AI patents. Completed cybersecurity subsidiary IPO and plans for International Integrated Systems IPO.
- **ESG Progress**: Issued TWD 3.5 billion sustainability bonds for biodiversity and EV initiatives, restoring communication during typhoon.

**【CFO Financial Commentary】**
- **Profitability**: Q3 EPS of TWD 1.22, highest in 8 years, with EBITDA margin at 38.17%.
- **Balance Sheet Strength**: Debt ratio 23.91%, net debt/EBITDA 4.5x, reflecting disciplined capital management.
- **Cash Flow**: Free cash flow TWD 28.19 billion (9M), despite front-loaded CapEx for 5G/4G.
- **Segment Growth**: CGB revenue +2.2%, EBG ICT +14%, IBG ICT +14%.

**【Q&A Highlights】**
- **US Expansion**: Texas subsidiary drives 70% YoY growth via AI supply chain projects for Taiwanese tech firms.
- **Japan & SEA**: Introducing cybersecurity and Smart Pole solutions, with Thailand project leveraging AI/IoT for adaptive lighting and traffic analytics.
- **Submarine Cables**: SJC2 operational, Apricot cable to launch Q4, enhancing global connectivity.
- **Project Wins**: Largest life insurance network contract, Taipower big data platform, and railway digital twin solutions.

Chunghwa Telecom Co., Ltd. (CHT) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

CHT

CHT fundamentals

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