Exhibit 99.3

Chunghwa Telecom Co., Ltd. and Subsidiaries

Consolidated Financial Statements for the

Three Months Ended March 31, 2020 and 2019

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In Millions of New Taiwan Dollars)

	March 31, 2020 (Unaudited)			December 31, 2019 (Audited)			March 31, 2019 (Unaudited)				March 31, 2020 (Unaudited)				December 31, 2019 (Audited)			March 31, 2019 (Unaudited)
ASSETS		Amount	%		Amount	%		Amount	%	LIABILITIES AND EQUITY		Amount		%		Amount	%		Amount	%
CURRENT ASSETS										CURRENT LIABILITIES
Cash and cash equivalents	$	16,570	3	$	34,050	7	$	37,228	8	Short-term loans	$	70		—	$	90	—	$	175	—
Financial assets at fair value through profit or loss		7	—		1	—		—	—	Short-term bills payable		19,966		4		—	—		—	—
Hedging financial assets		—	—		—	—		—	—	Financial liabilities at fair value through profit or loss		1		—		—	—		2	—
Contract assets		4,467	1		4,441	1		4,606	1	Hedging financial liabilities		—		—		—	—		3	—
Trade notes and accounts receivable, net		23,401	5		26,408	6		27,524	5	Contract liabilities		17,163		4		16,840	3		12,417	3
Receivables from related parties		10	—		17	—		18	—	Trade notes and accounts payable		11,890		2		15,312	3		14,948	3
Inventories		17,775	4		17,344	4		13,904	3	Payables to related parties		338		—		654	—		361	—
Prepayments		5,103	1		1,883	—		4,855	1	Current tax liabilities		8,335		2		5,812	1		8,541	2
Other current monetary assets		6,159	1		7,498	2		7,170	1	Lease liabilities		3,395		1		3,291	1		3,500	1
Other current assets		1,876	—		2,430	—		2,926	1	Other payables		19,654		4		22,953	5		20,294	4
										Provisions		200		—		207	—		131	—
Total current assets		75,368	15		94,072	20		98,231	20	Other current liabilities		973		—		984	—		1,052	—
NONCURRENT ASSETS										Total current liabilities		81,985		17		66,143	13		61,424	13
Financial assets at fair value through profit or loss		767	—		778	—		511	—	NONCURRENT LIABILITIES
Financial assets at fair value through other comprehensive income		5,903	1		7,154	1		6,774	1	Contract liabilities		6,668		1		6,841	2		6,325	1
Investments accounted for using equity method		7,141	1		7,139	1		2,811	1	Long-term loans		1,600		—		1,600	—		1,600	—
Contract assets		2,567	1		2,601	1		2,395	1	Deferred income taxes liabilities		1,928		1		1,912	—		1,985	1
Property, plant and equipment		279,867	56		283,694	60		284,681	59	Provisions		100		—		97	—		79	—
Right-of-use assets		11,494	2		11,364	2		11,710	2	Lease liabilities		6,425		1		6,467	2		6,353	1
Investment properties		8,164	2		8,169	2		8,278	2	Customers’ deposits		4,602		1		4,748	1		4,646	1
Intangible assets		94,408	19		47,047	10		49,934	11	Net defined benefit liabilities		3,539		1		3,505	1		3,580	1
Deferred income tax assets		3,262	1		3,259	1		3,558	1	Other noncurrent liabilities		1,685		—		1,543	—		1,400	—
Incremental costs of obtaining contracts		930	—		943	—		1,117	—
Net defined benefit assets		2,204	—		2,128	—		1,088	—	Total noncurrent liabilities		26,547		5		26,713	6		25,968	5
Prepayments		2,612	1		2,679	1		2,931	1
Other noncurrent assets		4,992	1		6,101	1		5,798	1	Total liabilities		108,532		22		92,856	19		87,392	18
Total noncurrent assets		424,311	85		383,056	80		381,586	80	EQUITY ATTRIBUTABLE TO STOCKHOLDERS OF
										THE PARENT
										Common stocks		77,574		16		77,574	16		77,574	16
										Additional paid-in capital		149,786		29		149,762	31		149,761	31
										Retained earnings
										Legal reserve		77,574		16		77,574	16		77,574	16
										Special reserve		2,676		1		2,676	1		2,676	1
										Unappropriated earnings		73,834		14		65,984	14		74,504	16
										Total retained earnings		154,084		31		146,234	31		154,754	33
										Other adjustments		(709	)	—		587	—		309	—
										Total equity attributable to stockholders of the parent		380,735		76		374,157	78		382,398	80
										NONCONTROLLING INTERESTS		10,412		2		10,115	3		10,027	2
										Total equity		391,147		78		384,272	81		392,425	82
TOTAL	$	499,679	100	$	477,128	100	$	479,817	100	TOTAL	$	499,679		100	$	477,128	100	$	479,817	100

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CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In Millions of New Taiwan Dollars, Except Earnings Per Share)

(Unaudited)

	Three Months Ended March 31
	2020						2019
	Amount			%			Amount			%
REVENUES	$	48,150			100		$	51,331			100
OPERATING COSTS		30,391			63			33,481			65
GROSS PROFIT		17,759			37			17,850			35
OPERATING EXPENSES
Marketing		5,073			10			5,408			11
General and administrative		1,213			3			1,171			2
Research and development		936			2			921			2
Expected credit loss (reversal of credit loss)		6			—			(56	)		—
Total operating expenses		7,228			15			7,444			15
OTHER INCOME AND EXPENSES		(1	)		—			(4	)		—
INCOME FROM OPERATIONS		10,530			22			10,402			20
NON-OPERATING INCOME AND EXPENSES
Interest income		39			—			53			—
Other income		43			—			56			—
Other gains and losses		39			—			(19	)		—
Interest expenses		(42	)		—			(26	)		—
Share of profits of associates accounted for using equity method		35			—			77			—
Total non-operating income and expenses		114			—			141			—
INCOME BEFORE INCOME TAX		10,644			22			10,543			20
INCOME TAX EXPENSE		2,544			5			2,452			5
NET INCOME		8,100			17			8,091			15
TOTAL OTHER COMPREHENSIVE LOSS
Items that will not be reclassified to profit or loss:
Unrealized gain or loss on investments in equity instruments at fair value through other comprehensive income		(1,286	)		(3	)		(159	)		—
Gain or loss on hedging instruments subject to basis adjustment		—			—			(4	)		—

(Continued)

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CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In Millions of New Taiwan Dollars, Except Earnings Per Share)

(Unaudited)

	Three Months Ended March 31
	2020						2019
	Amount			%			Amount			%
Share of remeasurements of defined benefit pension plans of associates	$	—			—		$	—			—
		(1,286	)		(3	)		(163	)		—
Items that may be reclassified subsequently to profit or loss:
Exchange differences arising from the translation of the foreign operations		(12	)		—			24			—
Share of exchange differences arising from the translation of the foreign operations of associates		—			—			—			—
		(12	)		—			24			—
Total other comprehensive loss, net of income tax		(1,298	)		(3	)		(139	)		—
TOTAL COMPREHENSIVE INCOME	$	6,802			14		$	7,952			15
NET INCOME ATTRIBUTABLE TO
Stockholders of the parent	$	7,850			16		$	7,929			15
Noncontrolling interests		250			1			162			—
	$	8,100			17		$	8,091			15
COMPREHENSIVE INCOME ATTRIBUTABLE TO
Stockholders of the parent	$	6,554			13		$	7,778			15
Noncontrolling interests		248			1			174			—
	$	6,802			14		$	7,952			15
EARNINGS PER SHARE
Basic	$	1.01					$	1.02
Diluted	$	1.01					$	1.02

(Concluded)

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CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(In Millions of New Taiwan Dollars)

(Unaudited)

	Equity Attributable to Stockholders of the Parent
														Other Adjustments
														Exchange
														Differences
														Arising			Unrealized
						Retained Earnings								from the			Gain or Loss									Total Equity
	Common Stocks		Additional Paid-in Capital			Legal Reserve		Special Reserve		Unappropriated Earnings		Total Retained Earnings		Translation of the Foreign Operations			on Financial Assets at FVOCI			Gain or Loss on Hedging Instruments			Total Other Adjustments			Attributable to Stockholders of the Parent			Noncontrolling Interests			Total Equity
BALANCE, JANUARY 1, 2019	$	77,574	$	149,762		$	77,574	$	2,676	$	66,575	$	146,825	$	(79	)	$	538		$	1		$	460		$	374,621		$	9,837		$	384,458
Net income for the three months ended March 31, 2019		—		—			—		—		7,929		7,929		—			—			—			—			7,929			162			8,091
Other comprehensive income (loss) for the three months ended March 31, 2019		—		—			—		—		—		—		15			(162	)		(4	)		(151	)		(151	)		12			(139	)
Total comprehensive income (loss) for the three months ended March 31, 2019		—		—			—		—		7,929		7,929		15			(162	)		(4	)		(151	)		7,778			174			7,952
Share-based payment transactions of subsidiaries		—		(1	)		—		—		—		—		—			—			—			—			(1	)		16			15
BALANCE, MARCH 31, 2019	$	77,574	$	149,761		$	77,574	$	2,676	$	74,504	$	154,754	$	(64	)	$	376		$	(3	)	$	309		$	382,398		$	10,027		$	392,425
BALANCE, JANUARY 1, 2020	$	77,574	$	149,762		$	77,574	$	2,676	$	65,984	$	146,234	$	(148	)	$	735		$	—		$	587		$	374,157		$	10,115		$	384,272
Net income for the three months ended March 31, 2020		—		—			—		—		7,850		7,850		—			—			—			—			7,850			250			8,100
Other comprehensive loss for the three months ended March 31, 2020		—		—			—		—		—		—		(13	)		(1,283	)		—			(1,296	)		(1,296	)		(2	)		(1,298	)
Total comprehensive income (loss) for the three months ended March 31, 2020		—		—			—		—		7,850		7,850		(13	)		(1,283	)		—			(1,296	)		6,554			248			6,802
Share-based payment transactions of subsidiaries		—		24			—		—		—		—		—			—			—			—			24			49			73
BALANCE, MARCH 31, 2020	$	77,574	$	149,786		$	77,574	$	2,676	$	73,834	$	154,084	$	(161	)	$	(548	)	$	—		$	(709	)	$	380,735		$	10,412		$	391,147

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CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Millions of New Taiwan Dollars)

(Unaudited)

	Three Months Ended March 31
	2020			2019
CASH FLOWS FROM OPERATING ACTIVITIES
Income before income tax	$	10,644		$	10,543
Adjustments to reconcile income before income tax to net cash provided by operating activities:
Depreciation		7,759			7,693
Amortization		1,059			1,064
Amortization of incremental costs of obtaining contracts		197			377
Expected credit loss (reversal of credit loss)		6			(56	)
Interest expenses		42			26
Interest income		(39	)		(53	)
Compensation cost of share-based payment transactions		2			—
Share of profits of associates accounted for using equity method		(35	)		(77	)
Loss on disposal of property, plant and equipment		1			4
Loss on disposal of financial instruments		2			—
Loss on disposal of investments accounted for by using equity method		6			—
Provision for inventory and obsolescence		24			96
Valuation loss on financial assets and liabilities at fair value through profit or loss, net		12			7
Others		(51	)		(23	)
Changes in operating assets and liabilities:
Decrease (increase) in:
Contract assets		8			213
Trade notes and accounts receivable		3,042			2,615
Receivables from related parties		7			6
Inventories		(454	)		1,121
Prepayments		(3,153	)		(3,109	)
Other current monetary assets		122			(42	)
Other current assets		554			(350	)
Incremental cost of obtaining contracts		(184	)		(159	)
Increase (decrease) in:
Contract liabilities		150			1,762
Trade notes and accounts payable		(3,423	)		(5,517	)
Payables to related parties		(316	)		(557	)
Other payables		(2,523	)		(2,241	)
Provisions		(5	)		4
Other current liabilities		(6	)		(107	)
Net defined benefit plans		(42	)		122
Cash generated from operations		13,406			13,362
Interest paid		(77	)		(26	)
Income tax paid		(8	)		(117	)
Net cash provided by operating activities		13,321			13,219

(Continued)

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CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Millions of New Taiwan Dollars)

(Unaudited)

	Three Months Ended March 31
	2020			2019
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of financial assets at fair value through other comprehensive income	$	(35	)	$	—
Purchase of financial assets at fair value through profit or loss		(39	)		—
Proceeds from disposal of financial assets at fair value through profit or loss		30			—
Acquisition of time deposits and negotiable certificates of deposit with maturities of more than three months		(1,392	)		(1,564	)
Proceeds from disposal of time deposits and negotiable certificates of deposit with maturities of more than three months		2,616			3,931
Acquisition of property, plant and equipment		(3,729	)		(4,492	)
Proceeds from disposal of property, plant and equipment		14			10
Acquisition of intangible assets		(47,420	)		(54	)
Decrease (increase) in other noncurrent assets		70			(619	)
Interest received		46			58
Net cash used in investing activities		(49,839	)		(2,730	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from short-term loans		70			300
Repayment of short-term loans		(90	)		(225	)
Proceeds from short-term bills payable		29,000			—
Repayment of short-term bills payable		(9,000	)		—
Decrease in customers’ deposits		(150	)		(79	)
Payments for the principal of lease liabilities		(992	)		(1,019	)
Increase in other noncurrent liabilities		142			90
Change in other noncontrolling interests		72			14
Net cash provided by (used in) financing activities		19,052			(919	)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS		(14	)		13
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(17,480	)		9,583
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		34,050			27,645
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	16,570		$	37,228

(Concluded)

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CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

NOTE TO CONSOLIDATED FINANCIAL STATEMENTS

Three Months Ended March 31, 2020 and 2019

(Unaudited)

STATEMENT OF COMPLIANCE

The Company has prepared its consolidated balance sheets as of March 31, 2020 and 2019, the related consolidated statements of comprehensive income, changes in equity and cash flows for the three months ended March 31, 2020 and 2019 in accordance with IAS 34 “Interim Financial Reporting” as issued by the International Accounting Standard Board (IASB). The consolidated financial statements are incomplete as they omit the related footnote disclosures as required under International Financial Reporting Standards as issued by IASB.

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