CHT — Investor Presentation 2021

Mar 23, 2021

4Q 2020 Operating Results

Credit Suisse Asian Investment Conference
March 25, 2021
Teleconference

Notes:

Thank you. This is Angela Tsai, the Director of Investor Relations for Chunghwa Telecom. Welcome to our fourth quarter 2020 results conference call. Joining me on the call today are Harrison Kuo, our President, and Vincent Chen, our Chief Financial Officer.
During today’s call, management will begin by providing an overview of our business during the quarter, followed by a discussion of operational and financial highlights, and then we will move on to the Q&A session.
On slide 2, please note our safe harbor statement.
And now, I will turn the call over to President Kuo. President Kuo, please go ahead.

Disclaimer

STATEMENT REGARDING UNAUDITED FINANCIAL INFORMATION

The unaudited financial information under T-IFRSs in this presentation is preliminary and subject to adjustments and modifications. Adjustments and modifications to the financial statements may be identified during the course of the audit /review work, which could result in significant differences from this preliminary unaudited financial information.

NOTE CONCERNING FORWARD-LOOKING STATEMENTS

This presentation contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about Chunghwa’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors including, but not limited to the risks outlined in Chunghwa’s filings with the U.S. Securities and Exchange Commission on Forms F-1, F-3, 6-K and 20-F, in each case as amended. The forward-looking statements in this presentation reflect the current belief of Chunghwa as of the date of this presentation and Chunghwa undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such date, except as required under applicable law.

This presentation is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.

SPECIAL NOTE REGARDING NON-GAAP FINANCIAL MEASURES

A body of generally accepted accounting principles is commonly referred to as "GAAP". A non-GAAP financial measure is generally defined by the SEC as one that purports to measure historical or future financial performance, financial position or cash flows but excludes or includes amounts that would not be so adjusted in the most comparable U.S. GAAP measure. We disclose in this report certain non-GAAP financial measures, including EBITDA. EBITDA for any period is defined as consolidated net income (loss) excluding (i) depreciation and amortization, (ii) total net comprehensive financing cost (which is comprised of net interest expense, exchange gain or loss, monetary position gain or loss and other financing costs and derivative transactions), (iii) other expenses, net, (iv) income tax, (v) cumulative effect of change in accounting principle, net of tax and (vi) (income) loss from discontinued operations.

In managing our business we rely on EBITDA as a means of assessing our operating performance. We believe that EBITDA can be useful to facilitate comparisons of operating performance between periods and with other companies because it excludes the effect of (i) depreciation and amortization, which represents a non-cash charge to earnings, (ii) certain financing costs, which are significantly affected by external factors, including interest rates, foreign currency exchange rates and inflation rates, which have little or no bearing on our operating performance, (iii) income tax and tax on assets and statutory employee profit sharing, which is similar to a tax on income and (iv) other expenses or income not related to the operation of the business.

EBITDA is not a measure of financial performance under U.S. GAAP or T-IFRSs. EBITDA should not be considered as an alternate measure of net income or income from operations, as determined on a consolidated basis using amounts derived from statements of operations prepared in accordance with U.S. GAAP or T-IFRSs, as an indicator of operating performance or as cash flows from operating activity or as a measure of liquidity. EBITDA has material limitations that impair its value as a measure of a company's overall profitability since it does not address certain ongoing costs of our business that could significantly affect profitability such as financial expenses and income taxes, depreciation, pension plan reserves or capital expenditures and associated charges. These non-GAAP measures are not in accordance with or an alternative for GAAP financial data, the non-GAAP results should be reviewed together with the GAAP results and are not intended to serve as a substitute for results under GAAP, and may be different from non-GAAP measures used by other companies.

Notes:

Committed to Improving Shareholder Value

Cash Return
Board of directors resolved to distribute NT$33.4 billion to shareholders
NT$4.306 per share
payout ratio 100%

NT$ bn
Note:
1 ADR = 10 common shares
The regular dividend has been calculated based on total share number 7,757,446,545.

Notes:

Business Overview

Notes:

+
•註：Mesh Wi-Fi：提供更廣的連結、結合高速寬頻，讓客戶在家享有極致聯網體驗，至6/30，付費的Home WiFi累計客戶數yoy成長120.9%(15373戶->33955戶)(備註1：若含基本型WiFi 0元客戶約250萬戶)(備註2：本資料由北分行銷處提供)
Increased adoption
of higher price plans
Operational Strategies
Streamline services and strengthen profitability
Capitalize and remain at the forefront of digital convergence trends
Continue to invest in talent and R&D
Broaden corporate governance initiatives
Continue a customer-centric value creation transformation plan to move upward via strengthen core, deploy more, optimize cost and enhance fundamentals

300Mbps ↑ Customers
Home Wi-Fi Devices
YoY 373%
YoY 69%

Online channel
access and transaction
YoY 92%

Notes:

行動＋固網＋MOD+Mesh Wi-Fi三網齊上PLUS打造寬頻環
第四季300M客戶數 yoy +69.0%，固網寬頻營收連續11個月YoY正成長；家用付費Mesh WiFi裝置數 yoy +373%
至1/5，iPhone 12之999以上之高資費佔比88%
5G用戶至1/17為58.2萬門，999以上資費76%，1399以上資費44%；2021年目標200萬戶
5G基地台佈建「加速加量」，Q4完成4500座；2021年目標超過10000座
MOD營收yoy -1.8%，排除廣告收入因去年有大案入帳、基期較高外，SVOD與channel持續upsell

Thank you, Angela, and hello, everyone. Welcome to our fourth quarter 2020 earnings call.
Let’s begin on slide 4. In the fourth quarter of 2020, mobile competition was relatively stable and the operators were more focused on 5G migration. We are pleased that the number of 5G sign-ups exceeded our annual target more quickly than we had expected, and the iPhone 12 launch continued to push up the adoption of high-priced 5G plans. We observe that 88% of iPhone 12 subscribers chose plans of NT$999 or above. In addition, construction of our 5G base station is ahead of schedule. By the end of 2020, we managed to establish over 4,500 base stations nationwide, and expect to exceed 10,000 base stations by the end of 2021. In terms of 5G vertical application, we participated in the world’s first 5G mmWave enterprise private network for semi-conductor industry, which launched in Kaohsiung city during the fourth quarter, marking another milestone of our efforts to develop 5G smart manufacturing. We intend to leverage the government’s 5G subsidies to substantially accelerate 5G network construction from 5 years to 3 years, which we will elaborate later on.
Now, I will provide key highlights from the fourth quarter of 2020. For our broadband business, we are pleased to see continued ARPU uplift as a result of the ongoing increase in higher price plan adoption. Subscriber migration to our broadband of 300 Mbps or higher continued to increase by approximately 69% year-over-year, contributing to year-over-year broadband revenue growth for the eleventh month in a row. The number of Home Wi-Fi devices also increased 373% year-over-year

#1 Mobile Services Provider

1 Mobile Revenue (a)(b)

Chart

Category	#1 Mobile subscribers
CHT	0.36
TWM	0.243
FET	0.242
Other	0.155
Strategy
Expand IoT services over NB-IoT and Cat-M1 network
Offer diversified rate plans and product portfolio to satisfy customer demands
Enhance brand image
Strengthen subscriber retention and acquisition initiatives
Promote VAS and new applications
Grow enterprise customers revenues

Chart

Category	#1 Mobile revenue
#1 Mobile revenue	0.382	0.382
Source: Company data, MOTC and NCC statistics
Note :
a) Market share as of December 2020
b) Revenues are based on T-IFRSs
Highest Subs & Lowest Churn
Better Performance in Mobile Service Revenue
(Thousand)
(Billion)

Chart

Category	CHT	TWM	FET	CHT	TWM	FET
Q4 19	16.07	12.43	12.37	-0.041	-0.082	-0.052
Q1 20	15.71	11.98	12.08	-0.04	-0.087	-0.05
Q2 20	15.41	11.7	11.88	-0.052	-0.094	-0.058
Q3 20	15.58	11.73	11.8	-0.042	-0.08	-0.053
Q4 20	15.6	11.85	11.98	-0.029	-0.047	-0.032
(before IFRS 15 adoption)
revenue

Chart

Category	CHT	TWM	FET	CHT	TWM	FET
44032	11132.826	7190.245	7045.779	0.005214671550537443	0.008746411175535287	0.0116
44063	11241.135	7195.207	7050.283	0.0042310906200689795	0.008534513496347276	0.0108
44094	11273.696	7225.396	7058.438	0.004284838458490135	0.007919847805822984	0.0102
44105	11325.667	7250.008	7067.975	0.0045	0.008697073352282453	0.0106
44136	11302.422	7252.681	7087.424	0.008455043593408547	0.012729179007766541	0.0121
44166	11298.451	7264.401	7069.489	0.005835469522162161	0.00935108771410553	0.0108
Subscribers
Note : For TWM and FET, mobile service revenue is derived from mobile ARPU under Residual Value Method times the average subscriber number.
Note : Churn rate for postpaid subscribers

Notes:

Fixed Broadband Service

Strategy
Leverage network capability to offer high-speed upload service
Leverage Big Data capability for precision marketing and precision network construction
Leverage mobile, broadband and Wi-Fi capabilities to offer seamless internet services
Expedite CDN construction and OTT promotion to enhance digital convergence product competitiveness
Continue to execute the strategy of encouraging FTTx migration to 300Mbps or higher

Fixed Broadband Subs
Broadband Revenue
Fiber ≥ 300M
YoY 69.0%
ARPU( NT$)

Chart

Category	Broadband Access	Data Communications	ARPU
Q4 19	4515.0	5286.0	713.0
Q1 20	4499.0	5305.0	715.0
Q2 20	4530.0	5356.0	722.0
Q3 20	4528.0	5370.0	725.0
Q4 20	4578.0	5416.0	733.0

4,405
4,388
4,348
4,365
4,375

Chart

Category	ADSL	Fiber (<100M)	Fiber (≥100M)
Dec 19	0.17843359818388196	0.46242905788876276	0.3591373439273553
Mar 20	0.17547857793983593	0.4544211485870556	0.3701002734731085
Jun 20	0.17211428571428572	0.44548571428571426	0.3824
Sep 20	0.16930126002290952	0.43711340206185567	0.3935853379152348
Dec 20	0.167	0.404	0.429
Note1 : Broadband ARPU is calculated as access plus ISP
Note2 : Revenue is calculated based on T-IFRSs

Notes:

MOD/ IPTV Service

Strategy
Continue to enrich content, including movies, drama and TV series for SVOD
Leverage the existing broadband and 4G mobile subscriber base to grow MOD subscribers
Enhance MOD platform to carry OTTs and APPs to become the smart home hub
Facilitate MOD platform to be favorable for advertisements and marketing
Differentiate products by acquiring sports contents including eSports

Chart

Category	SVOD Subscriber
Q4 19	1327.0
Q1 20	1328.0
Q2 20	1264.0
Q3 20	1303.0
Q4 20	1300.0

Chart

Category	MOD revenue	MOD Subs
Q4 19	921.0	2082.0
Q1 20	912.0	2086.0
Q2 20	915.0	2085.0
Q3 20	906.0	2080.0
Q4 20	904.0	2069.0
(NT$ mn)
(Thousand)
SVOD：Subscription Video on Demand

Notes:

Strategy
Leverage our advantage on network infrastructure, IDC, CDN, ect. to expand ICT business
Deploy nationwide NB-IoT/Cat M1 dual network to provide high-efficiency and quality IoT service via our IoT Platform
Launch highest-rated cloud IDC to further explore business opportunities in finance, ISP and ICP/OTT industries
Offer ICT total solutions by integrating our capabilities on cloud, information security, big data analysis, IoT, AI, block chain and customization
Cooperate with partners to develop an ecosystem to provide IoT services across various industries

ICT Business

YoY
49.9%

YoY 75.6%

Chart

Category	ICT Revenue
Q4 19	86.9
Q1 20	44.5
Q2 20	52.3
Q3 20	90.7
Q4 20	130.3
雲端
cloud services
YoY 28.6%

YoY 23.8%

Cyber Security

Notes:

第4季整體ICT營收yoy +49.9%，因蘇花改與將來銀行等大型專案入帳
第4季IDC營收yoy +75.6%；雲端營收yoy +28.6%；資安營收yoy +23.8%。IDC+資安營收成長亦與蘇花改、將來系統等建置有關
Streaming營收經會計與行銷討論後，尚未確定會計科目定義
板橋IDC全棟完成簽約率70％，主要有大型資通訊業者（含公雲）進駐

Please turn to slide 8 for an update on our ICT business.
Overall ICT project revenue increased by 49.9% year-over-year in the fourth quarter due to revenue recognition of large government ICT projects.
Our emerging ICT service revenues increased year-over-year as well. IDC revenue increased by 75.6% year-over-year due to the completion of large projects. Cloud revenue increased 28.6% year-over-year as we see the revenue increase in both projects and international public cloud services. Cyber security revenue increased 23.8% year-over-year with a significant contribution from finance- related projects.
As ICT project revenue accounted for a greater proportion of our total revenue year over year, we will continue to enhance ICT technologies and be more selective in selecting projects to further enhance project margin and profitability.
At this time, I would like to turn the call over to Vincent, who will review our financial results.

Financials Overview

Notes:

Thank you President Kuo. Good afternoon, everyone. I will now discuss our fourth quarter financial results.

Financials: Income Statement Highlights

	Consolidated
(NT$bn)	Q4 2020	Q4 2019	Growth ?%	2020	2019	Growth ?%
Revenues	59.48	55.23	7.7	207.61	207.52	0.0
Operating Costs and Expenses	50.30	45.20	11.3	166.85	166.74	0.1
Income from Operations	10.50	9.93	5.7	42.36	40.65	4.2
Net Income2	8.23	7.77	5.8	33.42	32.79	1.9
EPS	1.06	1.00	5.8	4.31	4.23	1.9
EBITDA	19.89	18.75	6.1	78.70	75.82	3.8
EBITDA Margin (%)	33.44	33.94		37.91	36.54
Note:
Financials are prepared in accordance with T-IFRSs. Figures for 2020 are unaudited.
Net income attributable to owners of the parent.
EBITDA = operating income + Depreciation & Amortization.
The calculation of growth rates is based on NT$mn.

Notes:

Financials: Business Segment Revenues

(NT$bn)	Q4 2020	Q4 2019	Growth %	2020	2019	Growth %
Domestic Fixed	20.24	18.36	10.2	69.47	65.59	5.9
Local	6.04	6.27	(3.6)	24.46	25.56	(4.3)
DLD	0.49	0.54	(9.5)	2.02	2.20	(8.2)
Broadband Access	4.58	4.52	1.4	18.14	17.98	0.9
MOD	0.90	0.92	(1.8)	3.64	3.60	0.9
ICT and Other Services	7.11	5.06	40.7	16.94	12.07	40.4
Mobile	24.96	24.46	2.0	90.23	95.47	(5.5)
Mobile Service Revenue	14.21	14.59	(2.6)	56.72	58.70	(3.4)
Sales of Mobile Handsets and Wearable Devices	10.30	9.51	8.4	32.11	35.55	(9.7)
ICT and Other Services	0.45	0.37	22.2	1.39	1.22	14.2
Internet	9.72	8.22	18.3	32.12	30.45	5.5
Data Communications	5.42	5.29	2.5	21.45	21.03	2.0
Application VAS	3.55	2.13	66.2	8.33	6.77	23.0
Services Provided to the government	0.76	0.80	(5.0)	2.34	2.65	(11.8)
International Fixed	2.14	2.62	(18.5)	8.70	11.27	(22.8)
ILD	0.26	0.87	(70.2)	1.53	4.58	(66.5)
Leased line	0.58	0.53	9.6	2.35	2.49	(5.4)
ICT and Other Services	0.64	0.59	8.3	2.24	1.76	27.1
Others	2.43	1.57	55.1	7.10	4.75	49.6
Total	59.48	55.23	7.7	207.61	207.52	0.0
Note:
Financials are prepared in accordance with T-IFRSs. Figures for 2020 are unaudited.
The calculation of growth rates is based on NT$ mn.
Businesses shown under each segment are highlighted; therefore, sum of the highlighted revenues is not equal to the total.

Notes:

Please turn to slide 11 for a breakdown of revenue by business segment.
In the fourth quarter of 2020, total revenue increased by 7.7% year-over-year, mainly due to the increase in ICT project revenue, Internet related revenue, and handset sales revenue, which offset the decrease in revenues from voice and mobile services as a result of market competition and VoIP substitution.
2020Q4累計營業收入為594.48億元，較去年同期增加42.5億元，YoY+7.7%。
•國內ICT及其他較去年同期增加20.6億元，主因係蘇花改等專案入帳所致。
•應用加值營收較去年同期增加14.1億元，主因係將來銀行案入帳所致。
•行動銷貨收入增加7.9億元，主因係iPhone銷售支數增加所致。
•市長話及國際網路收入較去年同期減少8.9億元，主因係市場競爭及免費通信軟體取代與國際電話來話量減少所致。
•行動服務較去年同期減少3.8億元，主因係免費通信軟體取代、市場競爭及疫情影響漫遊營收(4.3億元)所致
•非電信業務收入較去年同期增加8.6億元，主因係新增資拓宏宇子公司及宏華營收增加所致。

Financials: Costs & Expenses

	Consolidated
(NT$bn)	Q4 2020	Q4 2019	Growth ?%	2020	2019	Growth %
Operating Costs	42.33	37.18	13.8	137.03	135.95	0.8
Operating Expenses	7.97	8.02	(0.5)	29.82	30.79	(3.2)
Marketing	5.50	5.72	(3.7)	20.96	22.09	(5.1)
General and Administrative	1.50	1.32	13.3	5.01	4.76	5.3
R&D Expense	0.97	0.98	(0.6)	3.85	3.94	(2.3)
Total	50.30	45.20	11.3	166.85	166.74	0.1
Note:
Financials are prepared in accordance with T-IFRSs. Figures for 2020 are unaudited.
The calculation of growth rates is based on NT$ mn.

Notes:

Financials: Cash Flow

	Consolidated
(NT$bn)	Q4 2020	Q4 2019	Growth ?%	2020	2019	Growth %
Net Cash Flow from Operating Activities	27.40	23.58	16.2	74.31	72.43	2.6
CapEx	9.28	7.81	18.9	23.31	24.17	(3.5)
Free Cash Flow	18.12	15.77	14.9	51.00	48.26	5.7
Cash and Cash Equivalents at the end of period	30.44	34.05	(10.6)	30.44	34.05	(10.6)
Note:
Financials are prepared in accordance with T-IFRSs. Figures for 2020 are unaudited.
The calculation of growth rates is based on NT$ mn.
Free cash flow is calculated by subtracting CapEx from Net Cash Flows from Operating Activities.

Notes:

Operating Results vs. Forecast

	Consolidated
(NT$bn)	Q4 2020?(A)	Q4 2020?（E）	Achieving ?%	2020?(A)	2020 (E)	Achieving ?%
Revenues	59.48	59.42 ~ 59.80	99.5 ~ 100.1	207.61	214.10 ~ 215.29	96.4 ~ 97.0
Operating Costs and Expenses	50.31	50.00 ~ 50.06	100.5 ~ 100.6	166.85	175.51 ~ 175.83	94.9 ~ 95.1
Income from Operations	10.50	9.49 ~ 10.04	104.6 ~ 110.6	42.36	38.54 ~ 40.25	105.2 ~ 109.9
Net Income2	8.23	7.57 ~ 8.02	102.6 ~ 108.6	33.42	30.91 ~ 32.47	102.9~ 108.1
EPS	1.06	0.98~ 1.03	102.6 ~ 108.6	4.31	3.99 ~ 　4.19	102.9~ 108.1
EBITDA	19.89	18.92 ~ 19.44	102.4 ~ 105.2	78.70	74.91 ~ 76.53	102.8 ~ 105.1
EBITDA Margin (%)	33.44	31.84 ~ 32.50	-	37.91	34.99 ~ 35.55	-
Note:
Financials are prepared in accordance with T-IFRSs. Figures for 2020 are unaudited.
Net income attributable to owners of the parent.
EBITDA = operating income + Depreciation & Amortization.

Notes:

2021 Forecast

	Consolidated
(NT$bn)	2021（E）	2020	Growth ?%
Revenues	209.26~209.72	207.61	0.8~1.0
Operating Costs and Expenses	167.58~167.66	166.85	0.4~0.5
Income from Operations	41.72~42.51	42.36	-1.5~0.4
Net Income2	32.60~34.09	33.42	-2.5~2.0
EPS	4.20~4.40	4.31	-2.5~2.0
EBITDA	79.90~80.65	78.70	1.5~2.5
EBITDA Margin (%)	38.18~38.46	37.91	-
Note :
Financials are prepared in accordance with T-IFRSs. Figures for 2020 are unaudited.
Net income attributable to owners of the parent.
The information therein is predictive and will not necessarily be fully realized in the future, and that reference to the company's significant accounting policy and summary of basic assumptions shall be made for further details.

Notes:

Moving on to slide 15, please see our consolidated guidance for 2021.
Looking ahead, total revenue for 2021 is expected to increase by 0.8 to 1% compared to 2020. The increase in revenue is expected to be driven by increases in mobile communications revenue, internet revenue and handset sales. Operating costs and expenses for 2021 are expected to increase by between 0.4 to 0.5% as a result of the increase in cost of goods sold and depreciation expense in 5G equipment and the amortization expense for 5G concession. Given these projections, we expect 2.5% year-over-year decrease to 2% year-over-year increase in EPS.

Effective and Efficient Capital Expenditure

Capital Expenditure
Budgeted capex for 2021: NT$43.1 bn
Continue to focus on core businesses for future investments
5G
FTTx
IDC/ Cloud
Submarine cable
NT$ bn
43.1
28.6
27.0
24.2
23.3
Note: Actual capital expenditure are cash-based.

Notes:

2021 Strategic Focuses - 5G + Transformation

Accelerate 5G network deployment, assure leading network speed and enhance mobile service revenue
Expand 5G enterprise network and strengthen partnership to develop smart applications by leveraging the second phase of Forward-looking Infrastructure Development Program to grow ICT business
Continue fixed broadband migration and Always Broadband Connected strategy to enhance fixed broadband revenue
Build industrial ecosystem to provide cybersecurity, IDC/cloud and AIoT services by Acquiring, Building and Collaborating with partners
Build Asia Pacific region submarine cable double rings and become Asia Pacific submarine cable center

Notes:

Please turn to slide 17. Now, I would like to highlight some key items as part of our 2021 development strategy.

As mentioned earlier, in 2021, we will accelerate 5G network deployment to ensure our network speed and quality remain ahead of our peers’, thereby boosting our 5G subscriber base while increasing overall mobile service revenue.
For fixed broadband business, we will continue our success in fixed broadband migration to enhance fixed broadband revenue in the always- broadband-connected environment. To grow overall ICT business, we will focus on 5G enterprise private network opportunities and strengthen our partnerships to develop smart applications by leveraging government incentives used to encourage national, forward-looking development.
To expand new services and market share, we aim to grow ICT ecosystems by acquiring, building, or collaborating with industrial partners, particularly in the realm of cybersecurity, IDC, cloud computing, and IoT applications.
To capture business opportunities from overseas partners, we will continue to invest in submarine construction as we hope to build submarine cable double rings in the Asia-Pacific region and become the APAC region’s submarine cable center.

Awards and Recognition

Recognized as Brand of the Year Award at the World Branding Forum for 6th consecutive year
Received recognition in corporate governance and sustainability:
Won Platinum Award at the Asset ESG Corporate Awards for 8th consecutive year and only Taiwan-based award winner.
Listed as Top Ten Sustainable Model Enterprise at 2020 Taiwan Corporate Sustainability Awards
Best-in-Class Services Validated by Amazon and Microsoft
Only operator in Taiwan with both AWS MSP and AWS Direct Connect validation
First operator to obtain Microsoft Azure Expert MSP in greater China
Only service provider with Azure Expert MSP and Direct Connect ExpressRoute in Taiwan.
Received Frost & Sullivan Best Practice Awards in multiple categories:
Named as Taiwan Data Center Service Provider of the Year and Taiwan Mobile Data Service Provider of the Year
Named as Taiwan Cloud Infrastructure Service Provider of the Year for the first time
Recognized by Speedtest as the No.1 Mobile Network Speed and Coverage:
Received prizes for Fastest Mobile Network, Best Coverage Mobile Network and Fastest Mobile Network for iPhone 12 in the second half of 2020

Notes:

Finally, Slide 18 illustrates our awards and recognitions from the fourth quarter, highlighting our distinction in brand value, corporate governance, and sustainability, as well as our strengths in mobile, IDC, and cloud services.

Also worth noting, Chunghwa was the first operator to receive validations of Azure Expert Managed Service Provider and AWS Managed Service Provider, further demonstrating our cloud service capabilities and potential business opportunities.

Thank you for your time. Now, we would like to open up the line for questions.

Q&A

Notes: