Chunghwa Telecom Issues 2024 Guidance, Approves Related-Party Donation

TL;DR

**CHT just dropped 2024 guidance and approved a related-party donation.**

AI Summary

Chunghwa Telecom Co., Ltd. (NYSE: CHT) reported its 2024 financial guidance on January 26, 2024, indicating its outlook for the upcoming year. Additionally, the company's Board resolved to approve a donation to related parties, as detailed in an announcement on the same date. This filing is crucial for investors as it provides forward-looking financial expectations and reveals a decision regarding related-party transactions, both of which can influence future stock performance and investor confidence.

Why It Matters

This filing gives investors a peek into Chunghwa Telecom's financial expectations for 2024 and highlights a board decision on related-party donations, which can impact profitability and corporate governance perceptions.

Risk Assessment

Risk Level: medium — The filing contains forward-looking guidance, which inherently carries uncertainty, and mentions a donation to related parties, which can sometimes raise governance questions.

Analyst Insight

Investors should analyze the detailed 2024 guidance when it becomes fully available to assess growth prospects and scrutinize the specifics of the 'donation to related parties' for any potential governance implications before making investment decisions.

Key Players & Entities

• Chunghwa Telecom Co., Ltd. (company) — the registrant reporting 2024 guidance and approving a donation
• Yu-Shen Chen (person) — Chief Financial Officer who signed the report
• January 26, 2024 (date) — date of the report and announcements

FAQ

Key Financial Figures

• $6.99 b — total revenue to increase by NT$ 5.34~NT$6.99 billion, or 2.4%~3.1%, to NT$228.54~NT$23
• $228.54 — .34~NT$6.99 billion, or 2.4%~3.1%, to NT$228.54~NT$230.19 billion as compared to the un
• $230.19 billion — 9 billion, or 2.4%~3.1%, to NT$228.54~NT$230.19 billion as compared to the un-audited consolida
• $183.30 — 09~NT$ 8.06 billion, or 4.0%~4.6%, to NT$183.30~NT$184.27 billion as compared to the pr
• $184.27 billion — 6 billion, or 4.0%~4.6%, to NT$183.30~NT$184.27 billion as compared to the prior year. The incr
• $0.15 b — crease by NT$ 1.12, to an increase by NT$0.15 billion, or -2.4%~0.3% to NT$45.23~NT$46.
• $45.23 — by NT$0.15 billion, or -2.4%~0.3% to NT$45.23~NT$46.50 billion as compared to the pri
• $46.50 billion — 15 billion, or -2.4%~0.3% to NT$45.23~NT$46.50 billion as compared to the prior year. Income b
• $45.90 — earnings per share are expected to be NT$45.90~NT$47.58 billion, NT$35.66~NT$37.20 bil
• $47.58 b — per share are expected to be NT$45.90~NT$47.58 billion, NT$35.66~NT$37.20 billion and NT
• $35.66 — cted to be NT$45.90~NT$47.58 billion, NT$35.66~NT$37.20 billion and NT$4.60~NT$4.80, r
• $37.20 billion — e NT$45.90~NT$47.58 billion, NT$35.66~NT$37.20 billion and NT$4.60~NT$4.80, respectively, repr
• $4.60 — illion, NT$35.66~NT$37.20 billion and NT$4.60~NT$4.80, respectively, representing a d
• $4 — NT$35.66~NT$37.20 billion and NT$4.60~NT$4.80, respectively, representing a decrea
• $1.09 — pectively, representing a decrease of NT$1.09 to an increase of NT$0.59 billion, a de

Filing Documents

• cht_6k_20240126.htm (6-K) — 88KB
• 0000950170-24-007695.txt ( ) — 89KB

From the Filing

6-K 1934 Act Registration No. 1-31731 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 Dated January 26, 2024 Chunghwa Telecom Co., Ltd. (Translation of Registrant’s Name into English) 21-3 Xinyi Road Sec. 1, Taipei, Taiwan, 100 R.O.C. (Address of Principal Executive Office) (Indicate by check mark whether the registrant files or will file annual reports under cover of form 20-F or Form 40-F.) Form 20-F Form 40-F (Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.) Yes No (If “Yes” is marked, indicated below the file number assigned to the registrant in connection with Rule 12g3-2(b): Not applicable ) 1 EXHIBIT INDEX Exhibit Description 99.1 99.2 Press release on 2024/01/26: Announcement on 2024/01/26: Chunghwa Telecom reports 2024 guidance Company Board resolves to approve donation to related parties 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant Chunghwa Telecom Co., Ltd. has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: January 26, 2024 Chunghwa Telecom Co., Ltd. By: /s/Yu-Shen Chen Name: Yu-Shen Chen Title: Chief Financial Officer 3 EXHIBIT 99.1 Chunghwa Telecom Reports 2024 Guidance TAIPEI, Taiwan, R.O.C. January 26, 2024 - Chunghwa Telecom Co., Ltd. (TAIEX: 2412, NYSE: CHT) (“Chunghwa” or “the Company”) today reported its guidance for 2024 on a consolidated basis. All figures were prepared in accordance with Taiwan-International Financial Reporting Standards (“T-IFRSs”). Looking ahead to 2024, Chunghwa Telecom will solidify its leading position in mobile market revenue and market share with outstanding network and service quality. By promoting fixed broadband speed upgrades, the Company aims to deliver the highest quality services, strengthen customer relationships, and enhance user experience to sustain its leading position. Furthermore, by increasing investment in original video content, the Company aims to enhance market share and customer contribution while promoting Taiwanese original productions to the global stage. At the same time, we will continue to implement sustainable transformation, drive digital transformation, embark on AI transformation, enhance resilience and security, and explore opportunities in 5G smart applications, to further advance the innovation and growth for information and communication technology business. In terms of international business, we will continue to strengthen our position as the Asia-Pacific information hub and team up with Taiwan companies to expand market worldwide. Chunghwa Telecom is confident to maintain its leading position in the industry and widen our lead against peers due to our solid strengths and growth momentum. For 2024, the Company expects total revenue to increase by NT$ 5.34~NT$6.99 billion, or 2.4%~3.1%, to NT$228.54~NT$230.19 billion as compared to the un-audited consolidated total revenue of 2023. The increase in revenue is expected to be propelled by increases in mobile communications revenue, broadband access revenue, and data communications revenue, as well as revenue coming from the expansion of emerging businesses driven by the sustainable transformation and digital economy. Operating costs and expenses for 2024 are expected to increase by NT$ 7.09~NT$ 8.06 billion, or 4.0%~4.6%, to NT$183.30~NT$184.27 billion as compared to the prior year. The increase is mainly from the increasing cost of investment in talents and infrastructure that supports future business development in emerging businesses. Income from operations is expected to decrease by NT$ 1.12, to an increase by NT$0.15 billion, or -2.4%~0.3% to NT$45.23~NT$46.50 billion as compared to the prior year. Income before income tax, net income attributable to stockholders of the parent and net earnings per share are expected to be NT$45.90~NT$47.58 billion, NT$35.66~NT$37.20 billion and NT$4.60~NT$4.80, respectively, representing a decrease of NT$1.09 to an increase of NT$0.59 billion, a decrease of NT$1.26 to an increase of NT$ 0.28 billion and a decrease of NT$0.16 to an increase NT$0.04 respectively, year over year. Acquisition of Property, Plant and Equipment in 2024 is expected to increase by NT$3.04 billion to NT$34.02 billion as compared to the prior year, owing to the investments in 5G deployment to maintain a competitive edge, the expansion of internet data center, new construction of submarine cable, and the elimination of energy-intensive equipment to realize ESG practices. In response to the global trends

View Full Filing

View this 6-K filing on SEC EDGAR