Is Chunghwa Telecom profitable?

Yes. FY2025 net income was NT$38.69-38.71 billion, up 4.0% year over year, with EPS of NT$4.99, an 8-year high marking six straight years of earnings growth, reported January 12, 2026.

Who owns Chunghwa Telecom?

Taiwan's Ministry of Transportation and Communications (MOTC) holds about 35.29% as of January 23, 2026, and nominates a majority of the 13-member board. The company privatized when the state stake fell below 50% on August 12, 2005.

Could AI replace Chunghwa Telecom?

No. Its core business is physical infrastructure, spectrum licenses, fiber, and submarine cables, that AI cannot substitute. AI is actually a tailwind: 2026 capex was raised 14.6% to NT$31.91 billion for AI data centers and satellites (announced January 26, 2026).

Who is Chunghwa Telecom's biggest competitor?

Domestically, Far EasTone and Taiwan Mobile in Taiwan's three-operator oligopoly; Far EasTone led 5G availability at 72.4% vs Chunghwa's 69.8% in H1 2025 per Ookla. Regionally, SK Telecom is outpacing it in AI data-center scale, targeting 15GW by 2035 (July 2026).

Did Chunghwa Telecom have a security or trust incident?

Yes. On May 30, 2025, Google announced Chrome would remove default trust for Chunghwa's root CA certificates effective July 31, 2025, citing repeated compliance failures and slow incident response.

Does Chunghwa Telecom pay dividends?

Yes. Its May 29, 2026 annual general meeting approved a cash dividend of NT$5.2 per share, following record FY2025 consolidated revenue of NT$236.11 billion, up 2.7% year over year.

Telecom infrastructure · state-owned · Taiwan

Chunghwa Telecom

cht.com.tw ↗

Taiwan's largest telecom operator, state-anchored, running fixed, mobile, broadband and submarine cables.

Hard to displace

Assessed 25 July 2026 · Evidence as of 25 July 2026

Strong structural protection; the business model survives ai pressure.

On the recordSince 25 July 2026 · Checkable from November 2026 · Every call on the record Checkpoint: Q3 2026 earnings check on whether AI data center and satellite capex is converting into booked revenue

The call

A regulated, state-anchored operator with steady revenue growth and a locked three-player market, now spending more on AI infrastructure than it faces threats from AI.

Chunghwa Telecom is Taiwan's largest telephone and internet provider, owned partly by the government and protected by law from most competition. It is very hard to replace because it owns the physical cables, towers, and radio frequencies that run phone service on the island, and the government limits how many competitors can operate. The big question is whether the company can spend billions on new data centers and satellite services and actually make money from them, especially after it mishandled a computer security problem in 2025 that angered major tech companies.

Why

AI pressure: None apparent. AI shows up as a capex line and new revenue bet (data centers, satellites), not as a rival eating their core business. Could AI do the core job? Unlikely.

Bigger players: Global hyperscalers (AWS, Google, Microsoft) building their own Taiwan data centers and cable capacity. Hyperscalers investing directly in Taiwan infrastructure could eventually bypass Chunghwa's cable and colocation business. Could a giant copy it? No, they are blocked.

What protects it. Government stake near 35%, spectrum licenses, and physical fiber and cable assets that a rival cannot legally or physically duplicate.

What would change this call

Whether Apple or Mozilla take follow-on action after the May 2025 Chrome CA distrust. Would show whether compliance failures are spreading beyond one browser vendor's decision.
Q3 2026 earnings (around Nov 2026) reporting AI data center and satellite revenue versus NT$31.91bn capex. Would show whether new AI/satellite spending is generating matching revenue or compressing margins.
Whether 2026 AI/satellite/pre-6G revenue reaches management's guided NT$10 billion. Would show whether the AIDC pivot is delivering on its own targets.

Key numbers

FY2025 revenue hit record NT$236.11bn, up 2.7% YoY (2026-01-12)
FY2025 EPS NT$4.99, an 8-year high (2026-01-12)
MOTC holds about 35.29% of shares, nominates board majority (2026-01-23)

Named risks

Chrome CA distrust from May 2025 signals compliance failures that could spread to Apple or Mozilla. Severity: high
AI/satellite capex ramp (NT$31.91bn in 2026) may not convert to guided >NT$10bn revenue without margin compression. Severity: medium
About 18% of parent workforce (3,600 employees) set to retire within five years, per 2025 ESG data. Severity: medium
Regional AI infrastructure race with SK Telecom's 15GW plan could outscale Chunghwa's AI positioning. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
Far EasTone	contesting	Led 5G availability 72.4% vs Chunghwa's 69.8% in H1 2025, though Chunghwa led 5G speed (Ookla, Nov 2025)
Taiwan Mobile	contesting	Domestic oligopoly rival, merged with Taiwan Star Telecom, completed December 2023
SK Telecom	gaining on	Targeting 15GW AI data-center capacity by 2035 with Nvidia, outpacing Chunghwa's scale (July 24, 2026)
NTT	contesting	Joint IOWN AI Fund partner and technology collaborator since Aug 2024 optical link, also a regional AI infra competitor

Questions people ask

Is Chunghwa Telecom profitable?: Yes. FY2025 net income was NT$38.69-38.71 billion, up 4.0% year over year, with EPS of NT$4.99, an 8-year high marking six straight years of earnings growth, reported January 12, 2026.
Who owns Chunghwa Telecom?: Taiwan's Ministry of Transportation and Communications (MOTC) holds about 35.29% as of January 23, 2026, and nominates a majority of the 13-member board. The company privatized when the state stake fell below 50% on August 12, 2005.
Could AI replace Chunghwa Telecom?: No. Its core business is physical infrastructure, spectrum licenses, fiber, and submarine cables, that AI cannot substitute. AI is actually a tailwind: 2026 capex was raised 14.6% to NT$31.91 billion for AI data centers and satellites (announced January 26, 2026).
Who is Chunghwa Telecom's biggest competitor?: Domestically, Far EasTone and Taiwan Mobile in Taiwan's three-operator oligopoly; Far EasTone led 5G availability at 72.4% vs Chunghwa's 69.8% in H1 2025 per Ookla. Regionally, SK Telecom is outpacing it in AI data-center scale, targeting 15GW by 2035 (July 2026).
Did Chunghwa Telecom have a security or trust incident?: Yes. On May 30, 2025, Google announced Chrome would remove default trust for Chunghwa's root CA certificates effective July 31, 2025, citing repeated compliance failures and slow incident response.
Does Chunghwa Telecom pay dividends?: Yes. Its May 29, 2026 annual general meeting approved a cash dividend of NT$5.2 per share, following record FY2025 consolidated revenue of NT$236.11 billion, up 2.7% year over year.

Timeline

2026-07-15APRICOT submarine cable due 2027, domestic Penghu-Kinmen-Matsu No.4 cable due 2026, per company data-center report
2026-06-10Launched $500M IOWN AI Fund with SK Telecom and NTT, managed by Catalight Capital
2026-05-29AGM approved cash dividend of NT$5.2 per share
2026-02-03Q4 2025 revenue reported at NT$65.65bn, a 10-year Q4 high
2026-01-26Unveiled 2026 AI infrastructure strategy, capex raised 14.6% to NT$31.91bn
2026-01-12Reported FY2025 record consolidated revenue of NT$236.11bn, up 2.7% YoY
2025-05-30Google announced Chrome would distrust Chunghwa's root CA certificates
2025-04-15Signed strategic agreement with Astranis for dedicated Taiwan microGEO satellite
2024-08Activated world's first international IOWN all-photonics link with NTT, Taiwan to Tokyo
2005-08-12Privatized as government stake fell below 50%

Revision history

25 July 2026

First assessed. Hard to displace. The text above is fixed as of this date and is not edited afterwards.

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