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Subsidiaries
 12 Months Ended
Dec. 31, 2024
Disclosure of subsidiaries [abstract]  
Subsidiaries
15.
SUBSIDIARIES
a.
Information on subsidiaries with material noncontrolling interests

The table below shows details of less than wholly owned subsidiaries of the Company that have material noncontrolling interests:

 

 

 

Place of Incorporation

 

Proportion of Ownership
Interests and Voting Rights
Held by Noncontrolling
Interests

 

 

and Principal

 

December 31

Subsidiaries

 

Place of Business

 

2023

 

2024

SENAO

 

Taiwan

 

72%

 

72%

CHPT

 

Taiwan

 

66%

 

66%

 

 

 

Profit Allocated to
Noncontrolling
Interests

 

 

Accumulated
Noncontrolling
Interests

 

 

 

Year Ended December 31

 

 

December 31

 

 

 

2022

 

 

2023

 

 

2024

 

 

2023

 

 

2024

 

 

 

NT$

 

 

NT$

 

 

NT$

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

SENAO

 

$

462

 

 

$

510

 

 

$

353

 

 

$

4,533

 

 

$

4,549

 

CHPT

 

$

496

 

 

$

15

 

 

$

295

 

 

 

4,994

 

 

 

5,289

 

Individually immaterial subsidiaries with
   noncontrolling interests

 

 

 

 

 

 

 

 

 

 

 

2,905

 

 

 

3,142

 

 

 

 

 

 

 

 

 

 

 

 

$

12,432

 

 

$

12,980

 

 

Summarized financial information in respect of SENAO and its subsidiaries that has material noncontrolling interests is set out below. The summarized financial information below represented amounts before intercompany eliminations.

 

 

December 31

 

 

 

2023

 

 

2024

 

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

Current assets

 

$

6,540

 

 

$

6,738

 

Noncurrent assets

 

$

3,141

 

 

$

3,522

 

Current liabilities

 

$

2,982

 

 

$

3,582

 

Noncurrent liabilities

 

$

459

 

 

$

416

 

Equity attributable to the parent

 

$

1,707

 

 

$

1,713

 

Equity attributable to noncontrolling interests

 

$

4,533

 

 

$

4,549

 

 

 

 

 

Year Ended December 31

 

 

 

2022

 

 

2023

 

 

2024

 

 

 

NT$

 

 

NT$

 

 

NT$

 

 

 

 

 

 

(In Millions)

 

 

 

 

Revenues and income

 

$

31,602

 

 

$

31,675

 

 

$

32,503

 

Costs and expenses

 

 

30,958

 

 

 

30,964

 

 

 

32,012

 

Profit for the year

 

$

644

 

 

$

711

 

 

$

491

 

 

 

 

 

 

 

 

 

 

 

Profit attributable to the parent

 

$

182

 

 

$

201

 

 

$

138

 

Profit attributable to noncontrolling interests

 

 

462

 

 

 

510

 

 

 

353

 

Profit for the year

 

$

644

 

 

$

711

 

 

$

491

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss) attributable to the parent

 

$

11

 

 

$

(9

)

 

$

11

 

Other comprehensive income (loss) attributable to noncontrolling
     interests

 

 

26

 

 

 

(23

)

 

 

30

 

Other comprehensive income (loss) for the year

 

$

37

 

 

$

(32

)

 

$

41

 

 

 

 

 

 

 

 

 

 

 

Total comprehensive income attributable to the parent

 

$

192

 

 

$

192

 

 

$

149

 

Total comprehensive income attributable to noncontrolling
     interests

 

 

488

 

 

 

487

 

 

 

383

 

Total comprehensive income for the year

 

$

680

 

 

$

679

 

 

$

532

 

 

 

 

 

 

 

 

 

 

 

Net cash flow from operating activities

 

$

(329

)

 

$

1,146

 

 

$

904

 

Net cash flow from investing activities

 

 

36

 

 

 

36

 

 

 

(356

)

Net cash flow from financing activities

 

 

(826

)

 

 

(873

)

 

 

(819

)

Effect of exchange rate changes on cash and cash equivalents

 

 

1

 

 

 

—

 

 

 

—

 

Net cash inflow (outflow)

 

$

(1,118

)

 

$

309

 

 

$

(271

)

 

 

 

 

 

 

 

 

 

 

Dividends paid to noncontrolling interests

 

$

371

 

 

$

408

 

 

$

371

 

 

Summarized financial information in respect of CHPT and its subsidiaries that has material noncontrolling interests is set out below. The summarized financial information below represented amounts before intercompany eliminations.

 

 

 

December 31

 

 

 

2023

 

 

2024

 

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

Current assets

 

$

3,773

 

 

$

4,936

 

Noncurrent assets

 

$

4,499

 

 

$

4,222

 

Current liabilities

 

$

677

 

 

$

1,102

 

Noncurrent liabilities

 

$

23

 

 

$

21

 

Equity attributable to CHI

 

$

2,578

 

 

$

2,746

 

Equity attributable to noncontrolling interests

 

$

4,994

 

 

$

5,289

 

 

 

 

 

Year Ended December 31

 

 

 

2022

 

 

2023

 

 

2024

 

 

 

NT$

 

 

NT$

 

 

NT$

 

 

 

 

 

 

(In Millions)

 

 

 

 

Revenues and income

 

$

4,434

 

 

$

2,941

 

 

$

3,670

 

Costs and expenses

 

 

3,673

 

 

 

2,905

 

 

 

3,207

 

Profit for the year

 

$

761

 

 

$

36

 

 

$

463

 

 

 

 

 

 

 

 

 

 

 

Profit attributable to CHI

 

$

265

 

 

$

21

 

 

$

168

 

Profit attributable to noncontrolling interests

 

 

496

 

 

 

15

 

 

 

295

 

Profit for the year

 

$

761

 

 

$

36

 

 

$

463

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss) attributable to CHI

 

$

5

 

 

$

(1

)

 

$

6

 

Other comprehensive income (loss) attributable to noncontrolling
     interests

 

 

7

 

 

 

(2

)

 

 

10

 

Other comprehensive income (loss) for the year

 

$

12

 

 

$

(3

)

 

$

16

 

 

 

 

 

 

 

 

 

 

 

Total comprehensive income attributable to CHI

 

$

270

 

 

$

20

 

 

$

174

 

Total comprehensive income attributable to noncontrolling
     interests

 

 

503

 

 

 

13

 

 

 

305

 

Total comprehensive income for the year

 

$

773

 

 

$

33

 

 

$

479

 

 

 

 

 

 

 

 

 

 

 

Net cash flow from operating activities

 

$

1,401

 

 

$

325

 

 

$

616

 

Net cash flow from investing activities

 

 

(1,011

)

 

 

(244

)

 

 

(188

)

Net cash flow from financing activities

 

 

(388

)

 

 

(409

)

 

 

(43

)

Effect of exchange rate changes on cash and cash equivalents

 

 

8

 

 

 

(2

)

 

 

15

 

Net cash inflow (outflow)

 

$

10

 

 

$

(330

)

 

$

400

 

 

 

 

 

 

 

 

 

 

 

Dividends paid to noncontrolling interests

 

$

293

 

 

$

253

 

 

$

11

 

 

b.
Equity transactions with noncontrolling interests

Chunghwa did not participate in the capital increase of CHST in November 2022. Therefore, the Company’s ownership interest in CHST decreased.

CHIEF issued new shares in March 2022, December 2022, December 2023 and December 2024 as its employees exercised options. Therefore, the Company’s ownership interest in CHIEF decreased. See Note 35(a) for details.

CHTSC issued new shares in February 2022, May 2022, February 2023, May 2023, January 2024, March 2024 and December 2024 as its employees exercised options. In addition, Chunghwa disposed of some shares of CHTSC in August 2024 before CHTSC traded its shares on the emerging stock market according to the local requirements. Therefore, the Company’s ownership interest in CHTSC decreased. See Note 35(b) for details.

IISI purchased shares of UTC in August 2023. Therefore, the Company’s ownership interest in UTC increased. Chunghwa disposed of some shares of IISI in August 2024 before IISI traded its shares on the emerging stock market according to the local requirements. Therefore, the Company’s ownership interest in IISI decreased.

CLPT issued new shares in May 2023 and July 2024 as its employees exercised options. Therefore, the Company’s ownership interest in CLPT decreased. See Note 35(c) for details.

The above transactions were accounted for as equity transactions since the Company did not cease to have control over these subsidiaries.

The detailed information of the equity transactions for the years ended December 31, 2022, 2023 and 2024 was as follows:

 

 

 

Year Ended December 31, 2022

 

 

 

CHIEF
Share-Based
Payment

 

 

CHTSC
Share-Based
Payment

 

 

Chunghwa Not
Proportionately
Participating in
the Capital
Increase of
CHST

 

 

 

NT$

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

Cash consideration received from noncontrolling interests

 

$

39

 

 

$

35

 

 

$

15

 

The proportionate share of the carrying amount of the net assets
   of the subsidiary transferred to noncontrolling interests

 

 

(17

)

 

 

(30

)

 

 

(10

)

Differences arising from equity transactions

 

$

22

 

 

$

5

 

 

$

5

 

 

 

 

 

 

 

 

 

 

Line items for equity transaction adjustments

 

 

 

 

 

 

 

 

 

Additional paid-in capital - arising from changes in equities of
   subsidiaries

 

$

22

 

 

$

5

 

 

$

5

 

 

 

 

Year Ended December 31, 2023

 

 

 

CHIEF
Share-Based
Payment

 

 

CHTSC
Share-Based
Payment

 

 

CLPT
Share-Based Payment

 

 

Purchasing
UTC
shares

 

 

 

NT$

 

 

NT$

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

Cash consideration received from (paid to) noncontrolling interests(Note)

 

$

8

 

 

$

15

 

 

$

1

 

 

$

—

 

The proportionate share of the carrying amount of the net assets
   of the subsidiary transferred from (to) noncontrolling interests

 

 

(2

)

 

 

(13

)

 

 

(1

)

 

 

—

 

Differences arising from equity transactions

 

$

6

 

 

$

2

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Line items for equity transaction adjustments

 

 

 

 

 

 

 

 

 

 

 

 

Additional paid-in capital - arising from the difference
   between the consideration received or paid and the
   carrying amount of the subsidiaries’ net assets during
   actual disposal or acquisition

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Additional paid-in capital - arising from changes in equities of
   subsidiaries

 

$

6

 

 

$

2

 

 

$

—

 

 

$

—

 

 

 

 

 

Year Ended December 31, 2024

 

 

 

CHIEF
Share-Based
Payment

 

 

CHTSC
Share-Based
Payment

 

 

CLPT
Share-Based Payment

 

 

Disposal of
CHTSC
Shares

 

 

Disposal of IISI Shares

 

 

 

NT$

 

 

NT$

 

 

NT$

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

Cash consideration received from noncontrolling interests (Note)

 

$

14

 

 

$

14

 

 

$

9

 

 

$

207

 

 

$

52

 

The proportionate share of the carrying amount of the net assets
   of the subsidiary transferred to noncontrolling interests

 

 

(10

)

 

 

(14

)

 

 

(13

)

 

 

(19

)

 

 

(16

)

Differences arising from equity transactions

 

$

4

 

 

$

—

 

 

$

(4

)

 

$

188

 

 

$

36

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Line items for equity transaction adjustments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional paid-in capital - arising from the difference
   between the consideration received or paid and the
   carrying amount of the subsidiaries’ net assets during
   actual disposal or acquisition

 

$

—

 

 

$

—

 

 

$

—

 

 

$

188

 

 

$

36

 

Additional paid-in capital - arising from changes in equities of
   subsidiaries

 

$

4

 

 

$

—

 

 

$

(4

)

 

$

—

 

 

$

—

 

 

Note: The proceeds from the new shares issued in February 2023 and January 2024 by CHTSC have been received in advance in December 2022 and December 2023, respectively.