Exhibit 99.3
Chunghwa Telecom Co., Ltd. and Subsidiaries
Consolidated Financial Statements for the
Six Months Ended June 30, 2025 and 2024
CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In Millions of New Taiwan Dollars)
| June 30, 2025 (Unaudited) |
December 31, 2024 (Audited) |
June 30, 2024 (Unaudited) |
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| Amount | % | Amount | % | Amount | % | |||||||||||||||||||
| ASSETS |
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| CURRENT ASSETS |
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| Cash and cash equivalents |
$ | 35,033 | 6 | $ | 36,260 | 7 | $ | 37,712 | 7 | |||||||||||||||
| Financial assets at fair value through profit or loss |
1 | — | — | — | 1 | — | ||||||||||||||||||
| Hedging financial assets |
— | — | 1 | — | — | — | ||||||||||||||||||
| Contract assets |
8,062 | 2 | 8,401 | 1 | 7,495 | 2 | ||||||||||||||||||
| Trade notes and accounts receivable, net |
23,649 | 5 | 26,026 | 5 | 23,631 | 4 | ||||||||||||||||||
| Receivables from related parties |
128 | — | 193 | — | 86 | — | ||||||||||||||||||
| Inventories |
11,947 | 2 | 12,087 | 2 | 11,072 | 2 | ||||||||||||||||||
| Prepayments |
6,300 | 1 | 3,138 | 1 | 6,370 | 1 | ||||||||||||||||||
| Other current monetary assets |
39,731 | 7 | 23,408 | 4 | 32,417 | 6 | ||||||||||||||||||
| Incremental costs of obtaining contracts |
339 | — | 339 | — | 282 | — | ||||||||||||||||||
| Other current assets |
3,508 | 1 | 3,115 | 1 | 3,809 | 1 | ||||||||||||||||||
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| Total current assets |
128,698 | 24 | 112,968 | 21 | 122,875 | 23 | ||||||||||||||||||
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| NONCURRENT ASSETS |
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| Financial assets at fair value through profit or loss |
1,110 | — | 1,005 | — | 1,072 | — | ||||||||||||||||||
| Financial assets at fair value through other comprehensive income |
5,770 | 1 | 4,667 | 1 | 4,966 | 1 | ||||||||||||||||||
| Financial assets at amortized cost |
2,000 | — | 2,000 | — | — | — | ||||||||||||||||||
| Investments accounted for using equity method |
8,543 | 2 | 8,879 | 2 | 8,211 | 2 | ||||||||||||||||||
| Contract assets |
4,402 | 1 | 4,327 | 1 | 4,166 | 1 | ||||||||||||||||||
| Property, plant and equipment |
285,035 | 52 | 289,840 | 54 | 284,970 | 53 | ||||||||||||||||||
| Right-of-use assets |
11,121 | 2 | 10,912 | 2 | 11,130 | 2 | ||||||||||||||||||
| Investment properties |
12,281 | 2 | 12,302 | 2 | 11,506 | 2 | ||||||||||||||||||
| Intangible assets |
63,003 | 12 | 66,283 | 12 | 69,489 | 13 | ||||||||||||||||||
| Deferred income tax assets |
1,747 | — | 1,661 | — | 2,063 | — | ||||||||||||||||||
| Incremental costs of obtaining contracts |
1,174 | — | 1,222 | — | 1,060 | — | ||||||||||||||||||
| Net defined benefit assets |
9,227 | 2 | 8,884 | 2 | 6,278 | 1 | ||||||||||||||||||
| Prepayments |
5,457 | 1 | 4,461 | 1 | 3,895 | 1 | ||||||||||||||||||
| Other noncurrent assets |
4,727 | 1 | 4,886 | 2 | 4,572 | 1 | ||||||||||||||||||
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| Total noncurrent assets |
415,597 | 76 | 421,329 | 79 | 413,378 | 77 | ||||||||||||||||||
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| TOTAL |
$ | 544,295 | 100 | $ | 534,297 | 100 | $ | 536,253 | 100 | |||||||||||||||
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| LIABILITIES AND EQUITY |
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| CURRENT LIABILITIES |
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| Short-term loans |
$ | 480 | — | $ | 215 | — | $ | 365 | — | |||||||||||||||
| Financial liabilities at fair value through profit or loss |
— | — | — | — | — | — | ||||||||||||||||||
| Hedging financial liabilities |
13 | — | 2 | — | — | — | ||||||||||||||||||
| Contract liabilities |
16,457 | 3 | 16,301 | 3 | 15,219 | 3 | ||||||||||||||||||
| Trade notes and accounts payable |
11,121 | 2 | 17,743 | 3 | 9,827 | 2 | ||||||||||||||||||
| Payables to related parties |
145 | — | 480 | — | 226 | — | ||||||||||||||||||
| Current tax liabilities |
6,424 | 1 | 6,822 | 1 | 5,773 | 1 | ||||||||||||||||||
| Lease liabilities |
3,804 | 1 | 3,558 | 1 | 3,562 | 1 | ||||||||||||||||||
| Dividends Payable |
38,787 | 7 | — | — | 36,910 | 7 | ||||||||||||||||||
| Other payables |
23,170 | 4 | 26,581 | 5 | 22,467 | 4 | ||||||||||||||||||
| Provisions |
661 | — | 442 | — | 317 | — | ||||||||||||||||||
| Current portion of long-term loans |
10,708 | 2 | 8,803 | 2 | 1,600 | — | ||||||||||||||||||
| Other current liabilities |
947 | — | 1,050 | — | 978 | — | ||||||||||||||||||
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| Total current liabilities |
112,717 | 20 | 81,997 | 15 | 97,244 | 18 | ||||||||||||||||||
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| NONCURRENT LIABILITIES |
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| Long-term loans |
1,627 | — | 1,631 | 1 | — | — | ||||||||||||||||||
| Bonds payable |
19,792 | 4 | 21,689 | 4 | 30,486 | 6 | ||||||||||||||||||
| Contract liabilities |
6,971 | 1 | 7,541 | 2 | 7,725 | 2 | ||||||||||||||||||
| Deferred income taxes liabilities |
2,720 | 1 | 2,658 | 1 | 2,573 | 1 | ||||||||||||||||||
| Provisions |
317 | — | 535 | — | 498 | — | ||||||||||||||||||
| Lease liabilities |
7,236 | 1 | 7,334 | 1 | 7,452 | 1 | ||||||||||||||||||
| Customers’ deposits |
5,179 | 1 | 5,311 | 1 | 5,137 | 1 | ||||||||||||||||||
| Net defined benefit liabilities |
2,134 | — | 2,107 | — | 2,138 | — | ||||||||||||||||||
| Other noncurrent liabilities |
7,255 | 1 | 7,688 | 1 | 6,916 | 1 | ||||||||||||||||||
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| Total noncurrent liabilities |
53,231 | 9 | 56,494 | 11 | 62,925 | 12 | ||||||||||||||||||
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| Total liabilities |
165,948 | 29 | 138,491 | 26 | 160,169 | 30 | ||||||||||||||||||
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| EQUITY ATTRIBUTABLE TO STOCKHOLDERS OF THE PARENT |
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| Common stocks |
77,574 | 15 | 77,574 | 15 | 77,574 | 14 | ||||||||||||||||||
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| Additional paid-in capital |
150,060 | 28 | 150,054 | 28 | 149,828 | 28 | ||||||||||||||||||
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| Retained earnings |
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| Legal reserve |
77,574 | 15 | 77,574 | 15 | 77,574 | 14 | ||||||||||||||||||
| Special reserve |
2,676 | — | 2,676 | — | 2,676 | — | ||||||||||||||||||
| Unappropriated earnings |
56,528 | 10 | 74,362 | 14 | 55,589 | 11 | ||||||||||||||||||
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| Total retained earnings |
136,778 | 25 | 154,612 | 29 | 135,839 | 25 | ||||||||||||||||||
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| Others |
1,193 | — | 586 | — | 722 | — | ||||||||||||||||||
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| Total equity attributable to stockholders of the parent |
365,605 | 68 | 382,826 | 72 | 363,963 | 67 | ||||||||||||||||||
| NONCONTROLLING INTERESTS |
12,742 | 3 | 12,980 | 2 | 12,121 | 3 | ||||||||||||||||||
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| Total equity |
378,347 | 71 | 395,806 | 74 | 376,084 | 70 | ||||||||||||||||||
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| TOTAL |
$ | 544,295 | 100 | $ | 534,297 | 100 | $ | 536,253 | 100 | |||||||||||||||
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- 1 -
CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In Millions of New Taiwan Dollars, Except Earnings Per Share)
(Unaudited)
| Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||||||||
| Amount | % | Amount | % | Amount | % | Amount | % | |||||||||||||||||||||||||
| REVENUES |
$ | 56,731 | 100 | $ | 54,116 | 100 | $ | 112,539 | 100 | $ | 109,059 | 100 | ||||||||||||||||||||
| OPERATING COSTS |
34,955 | 62 | 33,286 | 62 | 69,158 | 61 | 67,740 | 62 | ||||||||||||||||||||||||
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| GROSS PROFIT |
21,776 | 38 | 20,830 | 38 | 43,381 | 39 | 41,319 | 38 | ||||||||||||||||||||||||
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| OPERATING EXPENSES |
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| Marketing |
6,412 | 11 | 6,191 | 11 | 12,552 | 11 | 12,122 | 11 | ||||||||||||||||||||||||
| General and administrative |
1,795 | 3 | 1,680 | 3 | 3,588 | 3 | 3,317 | 3 | ||||||||||||||||||||||||
| Research and development |
1,101 | 2 | 1,005 | 2 | 2,131 | 2 | 1,948 | 2 | ||||||||||||||||||||||||
| Expected credit loss (reversal of credit loss) |
(72 | ) | — | 24 | — | 48 | — | 80 | — | |||||||||||||||||||||||
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| Total operating expenses |
9,236 | 16 | 8,900 | 16 | 18,319 | 16 | 17,467 | 16 | ||||||||||||||||||||||||
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| OTHER INCOME AND EXPENSES |
5 | — | (4 | ) | — | 6 | — | (1 | ) | — | ||||||||||||||||||||||
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| INCOME FROM OPERATIONS |
12,545 | 22 | 11,926 | 22 | 25,068 | 23 | 23,851 | 22 | ||||||||||||||||||||||||
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| NON-OPERATING INCOME AND EXPENSES |
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| Interest income |
302 | — | 239 | — | 514 | — | 395 | 1 | ||||||||||||||||||||||||
| Other income |
344 | 1 | 287 | 1 | 381 | — | 325 | — | ||||||||||||||||||||||||
| Other gains and losses |
31 | — | (48 | ) | — | 6 | — | (33 | ) | — | ||||||||||||||||||||||
| Interest expenses |
(93 | ) | — | (83 | ) | — | (182 | ) | — | (166 | ) | — | ||||||||||||||||||||
| Share of profits of associates and joint ventures accounted for using equity method |
5 | — | 24 | — | 43 | — | 37 | — | ||||||||||||||||||||||||
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| Total non-operating income and expenses |
589 | 1 | 419 | 1 | 762 | — | 558 | 1 | ||||||||||||||||||||||||
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| INCOME BEFORE INCOME TAX |
13,134 | 23 | 12,345 | 23 | 25,830 | 23 | 24,409 | 23 | ||||||||||||||||||||||||
| INCOME TAX EXPENSE |
1,049 | 2 | 843 | 2 | 4,013 | 4 | 3,657 | 3 | ||||||||||||||||||||||||
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| NET INCOME |
12,085 | 21 | 11,502 | 21 | 21,817 | 19 | 20,752 | 20 | ||||||||||||||||||||||||
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| TOTAL OTHER COMPREHENSIVE INCOME (LOSS) |
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| Items that will not be reclassified to profit or loss: |
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| Unrealized gain or loss on investments in equity instruments at fair value through other comprehensive income |
469 | 1 | (386 | ) | (1 | ) | 1,037 | 1 | 241 | — | ||||||||||||||||||||||
| Gain or loss on hedging instruments subject to basis adjustment |
(13 | ) | — | — | — | (12 | ) | — | — | — | ||||||||||||||||||||||
| Share of other comprehensive income (loss) of associates and joint ventures |
(2 | ) | — | 1 | — | (1 | ) | — | 1 | — | ||||||||||||||||||||||
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| 454 | 1 | (385 | ) | (1 | ) | 1,024 | 1 | 242 | — | |||||||||||||||||||||||
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(Continued)
- 2 -
CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In Millions of New Taiwan Dollars, Except Earnings Per Share)
(Unaudited)
| Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||||||||
| Amount | % | Amount | % | Amount | % | Amount | % | |||||||||||||||||||||||||
| Items that may be reclassified subsequently to profit or loss: |
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| Exchange differences arising from the translation of the foreign operations |
$ | (505 | ) | (1 | ) | $ | 33 | — | $ | (431 | ) | — | $ | 137 | — | |||||||||||||||||
| Share of other comprehensive income (loss) of associates and joint ventures |
(30 | ) | — | (3 | ) | — | (23 | ) | — | 22 | — | |||||||||||||||||||||
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| (535 | ) | (1 | ) | 30 | — | (454 | ) | — | 159 | — | ||||||||||||||||||||||
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| Total other comprehensive income (loss), net of income tax |
(81 | ) | — | (355 | ) | (1 | ) | 570 | 1 | 401 | — | |||||||||||||||||||||
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| TOTAL COMPREHENSIVE INCOME |
$ | 12,004 | 21 | $ | 11,147 | 20 | $ | 22,387 | 20 | $ | 21,153 | 20 | ||||||||||||||||||||
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| NET INCOME ATTRIBUTABLE TO |
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| Stockholders of the parent |
$ | 11,636 | 20 | $ | 11,207 | 20 | $ | 20,955 | 18 | $ | 20,217 | 20 | ||||||||||||||||||||
| Noncontrolling interests |
449 | 1 | 295 | 1 | 862 | 1 | 535 | — | ||||||||||||||||||||||||
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| $ | 12,085 | 21 | $ | 11,502 | 21 | $ | 21,817 | 19 | $ | 20,752 | 20 | |||||||||||||||||||||
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| COMPREHENSIVE INCOME ATTRIBUTABLE TO |
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| Stockholders of the parent |
$ | 11,596 | 20 | $ | 10,848 | 19 | $ | 21,560 | 19 | $ | 20,586 | 19 | ||||||||||||||||||||
| Noncontrolling interests |
408 | 1 | 299 | 1 | 827 | 1 | 567 | 1 | ||||||||||||||||||||||||
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| $ | 12,004 | 21 | $ | 11,147 | 20 | $ | 22,387 | 20 | $ | 21,153 | 20 | |||||||||||||||||||||
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| EARNINGS PER SHARE |
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| Basic |
$ | 1.50 | $ | 1.45 | $ | 2.70 | $ | 2.61 | ||||||||||||||||||||||||
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| Diluted |
$ | 1.50 | $ | 1.44 | $ | 2.70 | $ | 2.60 | ||||||||||||||||||||||||
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(Concluded)
- 3 -
CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(In Millions of New Taiwan Dollars)
(Unaudited)
| Equity Attributable to Stockholders of the Parent | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Others | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Exchange | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Differences | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Arising | Unrealized | |||||||||||||||||||||||||||||||||||||||||||||||||||
| from the | Gain or Loss | Total Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | Translation of | on Financial | Gain or Loss | Attributable to | ||||||||||||||||||||||||||||||||||||||||||||||||
| Additional | Special | Unappropriated | Total Retained | the Foreign | Assets at | on Hedging | Stockholders | Noncontrolling | ||||||||||||||||||||||||||||||||||||||||||||
| Common Stocks | Paid-in Capital | Legal Reserve | Reserve | Earnings | Earnings | Operations | FVOCI | Instruments | Total Others | of the Parent | Interests | Total Equity | ||||||||||||||||||||||||||||||||||||||||
| BALANCE, JANUARY 1, 2024 |
$ | 77,574 | $ | 149,828 | $ | 77,574 | $ | 2,899 | $ | 72,059 | $ | 152,532 | $ | (168 | ) | $ | 521 | $ | — | $ | 353 | $ | 380,287 | $ | 12,432 | $ | 392,719 | |||||||||||||||||||||||||
| Appropriation of 2023 earnings |
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| Special reserve |
— | — | — | (223 | ) | 223 | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
| Cash dividends recognized by Chunghwa |
— | — | — | — | (36,910 | ) | (36,910 | ) | — | — | — | — | (36,910 | ) | — | (36,910 | ) | |||||||||||||||||||||||||||||||||||
| Cash dividends recognized by subsidiaries |
— | — | — | — | — | — | — | — | — | — | — | (898 | ) | (898 | ) | |||||||||||||||||||||||||||||||||||||
| Net income for the six months ended June 30, 2024 |
— | — | — | — | 20,217 | 20,217 | — | — | — | — | 20,217 | 535 | 20,752 | |||||||||||||||||||||||||||||||||||||||
| Other comprehensive income for the six months ended June 30, 2024 |
— | — | — | — | — | — | 135 | 234 | — | 369 | 369 | 32 | 401 | |||||||||||||||||||||||||||||||||||||||
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| Total comprehensive income for the six months ended June 30, 2024 |
— | — | — | — | 20,217 | 20,217 | 135 | 234 | — | 369 | 20,586 | 567 | 21,153 | |||||||||||||||||||||||||||||||||||||||
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| Changes in equities of subsidiaries |
— | — | — | — | — | — | — | — | — | — | — | 18 | 18 | |||||||||||||||||||||||||||||||||||||||
| Net increase in noncontrolling interests |
— | — | — | — | — | — | — | — | — | — | — | 2 | 2 | |||||||||||||||||||||||||||||||||||||||
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| BALANCE, JUNE 30, 2024 |
$ | 77,574 | $ | 149,828 | $ | 77,574 | $ | 2,676 | $ | 55,589 | $ | 135,839 | $ | (33 | ) | $ | 755 | $ | — | $ | 722 | $ | 363,963 | $ | 12,121 | $ | 376,084 | |||||||||||||||||||||||||
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| BALANCE, JANUARY 1, 2025 |
$ | 77,574 | $ | 150,054 | $ | 77,574 | $ | 2,676 | $ | 74,362 | $ | 154,612 | $ | 23 | $ | 564 | $ | (1 | ) | $ | 586 | $ | 382,826 | $ | 12,980 | $ | 395,806 | |||||||||||||||||||||||||
| Appropriation of 2024 earnings |
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| Cash dividends recognized by Chunghwa |
— | — | — | — | (38,787 | ) | (38,787 | ) | — | — | — | — | (38,787 | ) | — | (38,787 | ) | |||||||||||||||||||||||||||||||||||
| Cash dividends recognized by subsidiaries |
— | — | — | — | — | — | — | — | — | — | — | (1,094 | ) | (1,094 | ) | |||||||||||||||||||||||||||||||||||||
| Net income for the six months ended June 30, 2025 |
— | — | — | — | 20,955 | 20,955 | — | — | — | — | 20,955 | 862 | 21,817 | |||||||||||||||||||||||||||||||||||||||
| Other comprehensive income (loss) for the six months ended June 30, 2025 |
— | — | — | — | (2 | ) | (2 | ) | (417 | ) | 1,036 | (12 | ) | 607 | 605 | (35 | ) | 570 | ||||||||||||||||||||||||||||||||||
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| Total comprehensive income (loss) for the six months ended June 30, 2025 |
— | — | — | — | 20,953 | 20,953 | (417 | ) | 1,036 | (12 | ) | 607 | 21,560 | 827 | 22,387 | |||||||||||||||||||||||||||||||||||||
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| Changes in equities of subsidiaries |
— | 6 | — | — | — | — | — | — | — | — | 6 | 10 | 16 | |||||||||||||||||||||||||||||||||||||||
| Net increase in noncontrolling interests |
— | — | — | — | — | — | — | — | — | — | — | 19 | 19 | |||||||||||||||||||||||||||||||||||||||
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| BALANCE, JUNE 30, 2025 |
$ | 77,574 | $ | 150,060 | $ | 77,574 | $ | 2,676 | $ | 56,528 | $ | 136,778 | $ | (394 | ) | $ | 1,600 | $ | (13 | ) | $ | 1,193 | $ | 365,605 | $ | 12,742 | $ | 378,347 | ||||||||||||||||||||||||
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- 4 -
CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In Millions of New Taiwan Dollars)
(Unaudited)
| Six Months Ended June 30 | ||||||||
| 2025 | 2024 | |||||||
| CASH FLOWS FROM OPERATING ACTIVITIES |
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| Income before income tax |
$ | 25,830 | $ | 24,409 | ||||
| Adjustments to reconcile income before income tax to net cash provided by operating activities: |
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| Depreciation |
16,708 | 16,450 | ||||||
| Amortization |
3,336 | 3,345 | ||||||
| Amortization of incremental costs of obtaining contracts |
472 | 437 | ||||||
| Expected credit loss |
48 | 80 | ||||||
| Valuation loss on financial assets and liabilities at fair value through profit or loss, net |
85 | 72 | ||||||
| Interest expense |
182 | 166 | ||||||
| Interest income |
(514 | ) | (395 | ) | ||||
| Dividend income |
(275 | ) | (235 | ) | ||||
| Compensation cost of share-based payment transactions |
2 | 4 | ||||||
| Share of profits of associates and joint ventures accounted for using equity method |
(43 | ) | (37 | ) | ||||
| Loss (gain) on disposal of property, plant and equipment |
(6 | ) | 1 | |||||
| Gain on disposal of financial instruments |
— | (1 | ) | |||||
| Loss (gain) on disposal of investments accounted for using equity method |
6 | (61 | ) | |||||
| Provision for impairment loss and obsolescence of inventory |
14 | 36 | ||||||
| Gain on disposal of subsidiaries |
(15 | ) | — | |||||
| Others |
(52 | ) | 34 | |||||
| Changes in operating assets and liabilities: |
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| Decrease (increase) in: |
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| Contract assets |
256 | (1,181 | ) | |||||
| Trade notes and accounts receivable |
2,300 | 1,126 | ||||||
| Receivables from related parties |
65 | (8 | ) | |||||
| Inventories |
119 | 413 | ||||||
| Prepayments |
(2,968 | ) | (3,405 | ) | ||||
| Other current assets |
(396 | ) | (987 | ) | ||||
| Other current monetary assets |
(205 | ) | (71 | ) | ||||
| Incremental cost of obtaining contracts |
(424 | ) | (629 | ) | ||||
| Increase (decrease) in: |
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| Contract liabilities |
(407 | ) | 1,296 | |||||
| Trade notes and accounts payable |
(6,613 | ) | (4,569 | ) | ||||
| Payables to related parties |
(335 | ) | (159 | ) | ||||
| Other payables |
(2,876 | ) | (2,127 | ) | ||||
| Provisions |
1 | (7 | ) | |||||
| Net defined benefit plans |
(316 | ) | (275 | ) | ||||
| Other current liabilities |
(106 | ) | (4 | ) | ||||
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| Cash generated from operations |
33,873 | 33,718 | ||||||
(Continued)
- 5 -
CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In Millions of New Taiwan Dollars)
(Unaudited)
| Six Months Ended June 30 | ||||||||
| 2025 | 2024 | |||||||
| Interests paid |
$ | (154 | ) | $ | (138 | ) | ||
| Income taxes paid |
(4,436 | ) | (4,349 | ) | ||||
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| Net cash provided by operating activities |
29,283 | 29,231 | ||||||
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| CASH FLOWS FROM INVESTING ACTIVITIES |
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| Acquisition of financial assets at fair value through other comprehensive income |
(65 | ) | (313 | ) | ||||
| Proceeds from capital reduction of financial assets at fair value through other comprehensive income |
— | 3 | ||||||
| Acquisition of financial assets at fair value through profit or loss |
(191 | ) | (112 | ) | ||||
| Proceeds from disposal of financial assets at fair value through profit or loss |
— | 5 | ||||||
| Acquisition of investments accounted for using equity method |
(14 | ) | (112 | ) | ||||
| Net cash outflow from loss of control of subsidiaries |
(9 | ) | — | |||||
| Acquisition of property, plant and equipment |
(11,490 | ) | (10,250 | ) | ||||
| Proceeds from disposal of property, plant and equipment |
10 | 8 | ||||||
| Acquisition of intangible assets |
(54 | ) | (102 | ) | ||||
| Acquisition of investment properties |
(2 | ) | — | |||||
| Acquisition of time deposits, negotiable certificates of deposit and commercial paper with maturities of more than three months |
(34,494 | ) | (47,078 | ) | ||||
| Proceeds from disposal of time deposits, negotiable certificates of deposit and commercial paper with maturities of more than three months |
18,771 | 35,505 | ||||||
| Decrease in other noncurrent assets |
129 | 55 | ||||||
| Increase in prepayments for leases |
(1,191 | ) | (690 | ) | ||||
| Interests received |
369 | 381 | ||||||
| Dividends received |
159 | 153 | ||||||
| Proceeds from profit distribution of financial assets at fair value through profit or loss |
1 | — | ||||||
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| Net cash used in investing activities |
(28,071 | ) | (22,547 | ) | ||||
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| CASH FLOWS FROM FINANCING ACTIVITIES |
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| Proceeds from short-term loans |
580 | 540 | ||||||
| Repayments of short-term loans |
(250 | ) | (760 | ) | ||||
| Decrease in customers’ deposits |
(121 | ) | (173 | ) | ||||
| Payments for the principal of lease liabilities |
(2,116 | ) | (1,941 | ) | ||||
| Decrease in other noncurrent liabilities |
(433 | ) | (490 | ) | ||||
| Cash dividends distributed to noncontrolling interests |
(1 | ) | (4 | ) | ||||
| Change in other noncontrolling interests |
13 | 14 | ||||||
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| Net cash used in financing activities |
(2,328 | ) | (2,814 | ) | ||||
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(Continued)
- 6 -
CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In Millions of New Taiwan Dollars)
(Unaudited)
| Six Months Ended June 30 | ||||||||
| 2025 | 2024 | |||||||
| EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS |
$ | (111 | ) | $ | 18 | |||
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| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |
(1,227 | ) | 3,888 | |||||
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD |
36,260 | 33,824 | ||||||
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| CASH AND CASH EQUIVALENTS, END OF PERIOD |
$ | 35,033 | $ | 37,712 | ||||
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(Concluded)
- 7 -
CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES
NOTE TO CONSOLIDATED FINANCIAL STATEMENTS
SIX MONTHS ENDED JUNE 30, 2025 and 2024
(Unaudited)
STATEMENT OF COMPLIANCE
The Company has prepared its consolidated balance sheets as of June 30, 2025 and 2024, the related consolidated statements of comprehensive income for the three months ended June 30, 2025 and 2024, and the related consolidated statements of comprehensive income, changes in equity and cash flows for the six months ended June 30, 2025 and 2024 in accordance with IAS 34 “Interim Financial Reporting” as issued by the International Accounting Standards Board (IASB). The consolidated financial statements are incomplete as they omit the related footnote disclosures as required under International Financial Reporting Standards as issued by IASB.
- 8 -