Financial Performance and Key Metrics - Chunghwa Telecom reported a full year revenue of TWD 236.11 billion for 2025, marking a 2.7% increase compared to 2024, driven by strong mobile device sales and robust performance in the ICT sector [19][20] - The company's EPS for 2025 reached TWD 4.99, up from TWD 4.8 in the previous year, representing an eight-year high [3][21] - Fourth quarter revenue was TWD 65.65 billion, a 0.5% year-over-year increase, making it the highest fourth quarter revenue in nearly a decade [17][18] Business Segment Performance - Mobile revenue market share increased to 41%, with a subscriber market share of 39.7%, driven by growth in postpaid subscribers [7] - Fixed broadband ARPU reached NT$819 per month, a 3.8% increase year-over-year, supported by high-speed upgrade promotions [8] - ICT revenue declined by 6% year-over-year in the fourth quarter, but full year ICT revenues still recorded robust growth [10][11] Market Performance - The 5G subscriber market share increased to 39.2%, with a penetration rate of 46.4% among smartphone users by the end of 2025 [7] - Revenue from South Asia and Southeast Asia markets increased by 12% year-over-year, while international subsidiaries' revenue decreased by 7% due to lower demand for voice services [14] Company Strategy and Industry Competition - Chunghwa Telecom plans to focus on extending pre-6G opportunities in AIoT, satellite, and big data services, expecting combined revenue to surpass TWD 10 billion in 2026 [5] - The company aims to enhance its satellite services and has secured contracts for government projects, indicating a strategic move towards expanding its service offerings [13] Management Comments on Operating Environment and Future Outlook - Management expressed confidence entering 2026, citing a stable mobile market and successful strategies for ARPU enhancement in fixed broadband [4] - The company anticipates a 2% revenue growth for 2026, driven by core business momentum and digital transformation opportunities in the ICT sector [25] Other Important Information - Chunghwa Telecom received multiple awards for its ESG accomplishments and was recognized as one of the World's Most Trustworthy Companies in 2025 [6] - The company secured a 20-year corporate power purchase agreement for renewable energy, supporting its commitment to achieving net zero by 2045 [6] Q&A Session Summary Question: Details on the increase in non-mobile CapEx for 2026 - Management explained that the increase is primarily due to fixed line maintenance, satellite, cables, and IDC investments [31][34] Question: Clarification on the increase in operating costs - The increase is attributed to investments in human resources, particularly for AI-related talents, and uncertainties regarding electricity costs in Taiwan [32] Question: Request for more detailed breakdown of non-mobile CapEx - Management acknowledged the request for greater detail in future disclosures regarding non-mobile CapEx allocations [36]

February 3, 2026 © Chunghwa Telecom 4Q 2025 Operating Results 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 a ...

Core Insights - Hisense AI Life Butler, which includes the AI Food Butler, AI Cleaning Butler, and AI Air Butler, won the "Annual Smart Appliance Innovation Case" award at the "2025 Smart Life Annual List Award Ceremony" for its innovative smart technology and proactive service scenarios [1] Group 1 - Hisense AI Food Butler enhances the Hisense refrigerator by providing a full-chain smart service from ingredient storage management to cooking and meal planning [2] - The AI Food Butler utilizes advanced image recognition and natural language interaction technology to intelligently identify over 800 common ingredients, offering personalized preservation solutions through simple voice or interface commands [2] - The AI Food Butler records the storage time and condition of ingredients, proactively reminding users before expiration to effectively reduce food waste [2] Group 2 - The AI Food Butler features over 200,000 recipes and can recommend seasonal healthy recipes and shopping suggestions based on existing ingredients, seasonal availability, and regional taste preferences, shifting from "people seeking services" to "services serving people" [2] - This award reflects Hisense's long-term commitment to a "technology-driven enterprise" strategy, promoting the deep integration of AIoT technology with the home appliance industry [2] - Innovations like the AI Food Butler provide consumers with a more convenient, healthy, and personalized smart kitchen experience, aiding in the quality upgrade of family dining and serving as a transformation model for the home appliance industry from single product intelligence to scenario and ecological intelligence [2]

Core Insights - The logistics industry is experiencing significant growth opportunities due to the deep integration with the digital economy and green development, supported by continuous industrial policies, technological innovations, and capital empowerment [1][2]. Group 1: Industry Development Trends - By 2025, the modern logistics and related sectors are expected to show steady expansion, structural optimization, and accelerated transformation, becoming a crucial part of new productive forces [2]. - The domestic smart supply chain sector has achieved leapfrog development, with AI technology effectively addressing traditional supply chain issues such as forecasting delays and slow responses [2][3]. - The integration of logistics technology and new energy is accelerating, leading to notable advancements in the industry's green and low-carbon transformation [2][3]. Group 2: Capital Investment Dynamics - Capital investment in modern logistics and smart supply chains is increasing, with firms like Hidden Hill Capital exemplifying strategic investments in these sectors [4]. - The scarcity and long-term growth potential of these sectors are key factors driving capital allocation, as highlighted by Hidden Hill Capital's focus on modern logistics services, smart supply chains, and logistics technology [4][5]. - The unique investment model of "capital + scenario + ecosystem" is effectively addressing industry challenges and enhancing investment success rates [5][6]. Group 3: Future Outlook and Innovations - By 2026, the logistics industry is expected to see deep penetration of intelligent technologies and widespread adoption of green practices, driven by technological innovation, policy guidance, and market demand [7]. - The penetration rates of new energy vehicles in urban delivery, express logistics, and cold chain logistics are projected to reach 35.8%, 42.6%, and 28.9% respectively, significantly reducing carbon emissions in logistics operations [7]. - The rapid growth of cross-border logistics and global supply chain services is anticipated, with a focus on building a global service network and enhancing logistics capabilities [8].

（文章来源：每日经济新闻） 每经AI快讯，润欣科技(300493)1月30日发布业绩预告，预计2025年归母净利为5455.47万元~6001.02万 元，同比增长50%~65%。报告期内，公司在AIoT和汽车电子领域的营业收入实现较快增长，各类端侧 AI+产品和技术创新为用户带来智能场景体验。 ...

Summary of NAS and AI Applications Industry Overview - The discussion revolves around the development and deployment of AI applications on NAS (Network Attached Storage) devices, particularly in relation to Cloudbot and its integration with consumer-grade NAS systems [1][2][3]. Key Points and Arguments AI Application Deployment - NAS devices are becoming ideal platforms for deploying Cloudbot, with developers able to install toolkits and connect to AI APIs easily. The main challenge lies in the cost of deploying models locally versus in the cloud, with local deployment being cheaper [1][2]. - Consumer-grade NAS configurations are a bottleneck for local deployment, as low-end processors can only support small-scale models, affecting accuracy and response speed. High-end NAS with dedicated GPUs offer better performance but still lag behind Mac mini in terms of overall capability [1][3][4]. Hardware and Software Developments - AI NAS hardware focuses on high performance, large storage capacity, and substantial memory. Software capabilities have evolved from basic file management to advanced features like AI photo editing, video stitching, and subtitle generation [1][9]. - Several manufacturers, including Ugreen, OPPO, and ZTE, are actively promoting AI NAS development by launching hardware and software solutions to enhance user experience [1][11]. Market Dynamics - The rising prices of memory and solid-state drives (SSDs) have significantly impacted the market, causing delays in product launches from companies like Xiaomi. This price surge is attributed to market speculation and supply shortages, with expectations of price relief post-2026 [3][13]. - The primary user groups for AI NAS include home users (especially families) and small studios, with a significant portion of Ugreen's customer base being family-oriented [14][24]. Competitive Landscape - The competitive landscape features both emerging and traditional manufacturers. New entrants like Ugreen and JiKong are advancing quickly in AI technology, while established brands like Synology and QNAP are slower to adapt [15][16]. - The cost structure of NAS products shows that hardware accounts for 50-60% of the total price, with memory and CPU being significant components. Recent price hikes in storage have affected overall costs [23]. Future Trends and Opportunities - The future of NAS may include expanded use cases, such as replacing NVRs for surveillance and integrating with IoT devices for smart home applications. This could enhance productivity and data management capabilities [17][25]. - Local storage solutions are preferred for privacy and cost reasons, as cloud services can be expensive and raise privacy concerns [18][19]. - New entrants in the NAS market need strong technical capabilities and a robust ecosystem to compete effectively, with innovation being crucial for capturing market share [20]. Challenges and Considerations - While computers can perform similar tasks, NAS devices offer advantages in continuous operation and scalability, making them more suitable for certain applications [21]. - NAS devices provide unique features such as multiple network interfaces and virtualization support, which are essential for business applications [22]. Conclusion - The integration of AI with NAS technology presents significant opportunities for enhancing user experience and expanding market applications. However, challenges such as hardware limitations, market dynamics, and competitive pressures must be navigated to fully realize this potential.

伴随"智能设备"概念从手机、平板向汽车、机器人等领域加速渗透，全球ODM（原始设计制造商）行 业正站在智能化升级的新风口。 1月28日，全球领先的智能产品ODM平台型公司华勤技术拿到中国证监会境外发行上市备案通知书，拟 发行不超1.0157亿股H股登陆港交所，A+H双资本平台布局再度向前推进。 据招股书，这家行业老牌厂商凭借智能手机、平板、智能穿戴等消费电子核心品类的全球市占率第一站 稳脚跟，更面向人工智能浪潮布局了数据基础设施、汽车电子、机器人等新领域。 浙大城市学院副教授、中国城市专家智库委员会常务副秘书长林先平在接受北京商报记者采访时指出， 智能化浪潮下，头部ODM厂商需要突破传统代工模式的边界，华勤技术能坐稳全球ODM龙头位置，正 是依托技术研发与多品类布局的组合优势，而此次其A+H双资本平台的进一步布局，也为行业发展提 供了范本，资本赋能有效加速企业技术迭代与生态扩张，助力头部企业在高确定性赛道持续深耕。 02.更智能的巨头 人工智能技术的普及，正推动全球智能产品市场结构发生变化，算力基础设施需求扩容、终端智能化升 级、跨领域硬件创新成为当下行业发展的核心增长主线，华勤技术的业务布局也贴合趋势，多品 ...

Core Viewpoint - The company expects a significant increase in net profit for the fiscal year 2025, projecting a net profit attributable to shareholders between 1.05 billion to 1.25 billion yuan, representing a year-on-year growth of 51.78% to 80.69% [1] Financial Performance - The projected net profit after deducting non-recurring gains and losses is estimated to be between 1.01 billion to 1.21 billion yuan, indicating a year-on-year increase of 50.45% to 80.24% [1] Business Focus and Strategy - The company continues to focus on key business areas including "intelligent computing power + data storage + server remanufacturing + AIoT smart terminals," which has led to accelerated product delivery and project execution [1] - Enhanced supply chain collaboration and delivery management have contributed to the gradual realization of scale effects, resulting in improved profitability compared to the previous year [1]

Core Viewpoint - The company expects a significant increase in net profit for 2025, with projections indicating a growth of 51.78% to 80.69% compared to the previous year, driven by various business segments [1] Group 1: Financial Performance - The company anticipates a net profit attributable to shareholders of 105,000.00 million to 125,000.00 million yuan for 2025, reflecting a year-on-year growth of 51.78% to 80.69% [1] - The net profit after deducting non-recurring gains and losses is projected to be between 101,000.00 million and 121,000.00 million yuan, representing a growth of 50.45% to 80.24% compared to the previous year [1] Group 2: Business Segments - In the area of intelligent computing products and services, the company is capitalizing on the growing demand for computing infrastructure, leading to rapid revenue growth from computing cluster projects [2] - The data storage equipment segment has seen increased shipments due to enhanced investments in storage infrastructure by downstream customers, alongside rising product prices driven by supply-demand changes [2] - The server remanufacturing business has maintained steady development, with expanded business scale and improved operational efficiency contributing positively to overall performance [2] - In the AIoT smart terminal business, the company is enriching its product matrix and AI solution capabilities to drive business expansion in key customer segments and regions [2]

Core Viewpoint - The article emphasizes the evolution of AI technology from mere observation to immersive experiences, showcasing how AI can integrate into daily life through interactive exhibits at AWE2026 [3][5][6]. Group 1: AWE2026 Overview - AWE2026 will feature a grand theme of "AI Technology, Enjoying the Future," utilizing a dual-zone exhibition model across 170,000 square meters with over 1,200 global brands [3][6]. - 36Kr will present a 140 square meter upgraded core exhibition space, aiming to create a more comprehensive and immersive experience for attendees [3][6]. Group 2: Interactive Experiences - The "Folded Future" district will be designed as an immersive AI-themed area, allowing visitors to interact with futuristic concepts in a street-like environment [10][12]. - Five themed scenarios will be featured, including: - Super Sensory SPA Experience Store, focusing on proactive health management through AI [11]. - Cyber Flavor Canteen, showcasing how machines can recreate and innovate flavors [11]. - AIGC Dream Factory, where visitors can create content using AI tools [11]. - AI Butler Station, presenting embodied AI as companions and household assistants [11]. - Super Convenience Store, which promises to redefine the concept of convenience stores [12]. Group 3: Live Streaming and Content - The live streaming content will transition from simple exploration to in-depth discussions, focusing on core industry insights [13][14]. - The streaming will include: - Rapid penetration mode, providing quick insights into key technology areas [15]. - In-depth focus mode, offering a comprehensive analysis of flagship products [15]. - Dialogue streaming, featuring discussions on trends and challenges with industry thought leaders [16]. Group 4: 36Kr's Role - 36Kr's role at AWE has evolved from being an observer to a builder and connector, aiming to translate abstract concepts of the future into tangible experiences [18]. - The company believes that true technological empowerment enhances happiness and provides solutions rather than creating anxiety [19].