Smartkarma AI, Smartkarma

αSK

Smartkarma AI

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
 <li>
Incumbent Market Leader with Dominant Infrastructure: <a href="https://smartkarma.com/entities/chunghwa-telecom-co-ltd">Chunghwa Telecom</a> (CHT) is the largest integrated telecommunications provider in Taiwan, holding a dominant market share across mobile, fixed-line, and broadband segments. Its extensive and superior network infrastructure, a legacy of its history as a state-owned entity, provides a significant competitive advantage and a wide economic moat.</li>
 <li>
Stable Financials and Consistent Shareholder Returns: The company exhibits a track record of stable revenue growth, consistent profitability, and strong operating cash flow. CHT is known for its reliable dividend payments, making it an attractive investment for income-focused institutional investors, although the yield is moderate compared to some regional peers.</li>
 <li>
Strategic Pivot to Enterprise and AI-Driven Growth: While the core consumer telecom market is mature, CHT is strategically focused on expanding its Enterprise Business Group. Growth is being driven by strong demand for ICT solutions, including cloud services, cybersecurity, AIoT, and high-specification AI data centers, positioning the company to capitalize on Taiwan's digital transformation.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Incumbent Market Leader with Dominant Infrastructure: Chunghwa Telecom (CHT) is the largest integrated telecommunications provider in Taiwan, holding a dominant market share across mobile, fixed-line, and broadband segments. Its extensive and superior network infrastructure, a legacy of its history as a state-owned entity, provides a significant competitive advantage and a wide economic moat.
  
Stable Financials and Consistent Shareholder Returns: The company exhibits a track record of stable revenue growth, consistent profitability, and strong operating cash flow. CHT is known for its reliable dividend payments, making it an attractive investment for income-focused institutional investors, although the yield is moderate compared to some regional peers.
  
Strategic Pivot to Enterprise and AI-Driven Growth: While the core consumer telecom market is mature, CHT is strategically focused on expanding its Enterprise Business Group. Growth is being driven by strong demand for ICT solutions, including cloud services, cybersecurity, AIoT, and high-specification AI data centers, positioning the company to capitalize on Taiwan's digital transformation.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Chunghwa Telecom (2412 TT) - Sep 2025

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Chunghwa Telecom Co., Ltd (Adr) / Equity Bottom-Up

<ul><li>Chunghwa Telecom reported strong financial results for the second quarter of 2025, with a significant increase in revenue, operating income, net income, and earnings per share, all surpassing the upper end of their forecasts.</li><li>Revenue for the quarter reached a 10-year high, primarily driven by growth in the company's core business and expanding ICT segment.</li><li>Notably, ICT revenue set a record for any second quarter since 2021, demonstrating Chunghwa Telecom's commitment to innovation and operational excellence.</li></ul>

Chunghwa Telecom reported strong financial results for the second quarter of 2025, with a significant increase in revenue, operating income, net income, and earnings per share, all surpassing the upper end of their forecasts.Revenue for the quarter reached a 10-year high, primarily driven by growth in the company's core business and expanding ICT segment.Notably, ICT revenue set a record for any second quarter since 2021, demonstrating Chunghwa Telecom's commitment to innovation and operational excellence.

Chunghwa Telecom: Initiation of Coverage- Riding The AI

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>TSMC: +26.3% Premium; Near Record High After U.S. 4th of July Holiday</li>
<li>UMC: +4.7% Premium; One of the Highest Levels in History -- Short</li>
<li>ASE: +4.6% Premium; Wait for More Extreme Level Before Going Long or Short</li>
</ul>


TSMC: +26.3% Premium; Near Record High After U.S. 4th of July Holiday
UMC: +4.7% Premium; One of the Highest Levels in History -- Short
ASE: +4.6% Premium; Wait for More Extreme Level Before Going Long or Short


Taiwan Dual-Listings Monitor: Spreads Near Record Highs After U.S. Market Holiday

<ul>
<li>TSMC: +15.9% Premium; Sales Rose 33% YoY in August &amp; Headroom Increased</li>
<li>UMC: +1.8% Premium; Largest Monthly Decrease in ADR Headroom, Has Consistently Been Decreasing Since May</li>
<li>ASE: +2.0% Premium; At Current Level Can Consider Going Long the Premium</li>
</ul>


TSMC: +15.9% Premium; Sales Rose 33% YoY in August &amp; Headroom Increased
UMC: +1.8% Premium; Largest Monthly Decrease in ADR Headroom, Has Consistently Been Decreasing Since May
ASE: +2.0% Premium; At Current Level Can Consider Going Long the Premium


Taiwan Dual-Listings Monitor: TSMC 33% Growth, UMC Headroom Decrease, ASE Historically Low Premium

<ul>
<li>TSMC: +27.1% Premium; Increased to More Historically Extreme Level; Deeper in Short Range</li>
<li>UMC: +2.3% Premium; Good Level to Open a Short of The Spread</li>
<li>ASE: +2.3% Premium; Wait Better Long Opportunity Near Parity or Below</li>
</ul>


TSMC: +27.1% Premium; Increased to More Historically Extreme Level; Deeper in Short Range
UMC: +2.3% Premium; Good Level to Open a Short of The Spread
ASE: +2.3% Premium; Wait Better Long Opportunity Near Parity or Below


Taiwan Dual-Listings Monitor: TSMC ADR Spread Deeper in Historically Rare Zone

Taiwan

Chunghwa Telecom Co., Ltd. provides local, domestic, and international long distance services. The Company also offers wireless telecommunication, paging, and Internet services.

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Chunghwa Telecom Co., Ltd (Adr) (CHT US)

Primer: Chunghwa Telecom (2412 TT) - Sep 2025

Incumbent Market Leader with Dominant Infrastructure: Chunghwa Telecom (CHT) is the largest integrated telecommunications provider in Taiwan,...

αSK

Chunghwa Telecom: Initiation of Coverage- Riding The AI

Chunghwa Telecom reported strong financial results for the second quarter of 2025, with a significant increase in revenue, operating income, net...

Baptista Research

Taiwan Dual-Listings Monitor: Spreads Near Record Highs After U.S. Market Holiday

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

Taiwan Dual-Listings Monitor: TSMC 33% Growth, UMC Headroom Decrease, ASE Historically Low Premium

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

Taiwan Dual-Listings Monitor: TSMC ADR Spread Deeper in Historically Rare Zone

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)