Risk Management

Risk Management Policy and Process

Taiwan Mobile established a risk management policy in 2011, and relevant policies and procedures were disclosed on the official website. The policy was revised for the third time by the board of directors in 2022 as the highest principle for risk management. The Company actively plans risk management policies, the organizational structure and risk management systems; potential risks in the operation of the Company are dealt with on a preventive basis before they occur.

The risk management policy was revised in 2015, and a Risk Management Committee was set up after the approval of the board of directors to reinforce the organization’s risk management mechanism. Records of Risk Management Committee operations are compiled and submitted by the Internal Audit Office to the chairman of the board for approval. Starting from 2021, the status will be reported to the board of directors at least once a year to ensure that all risks are effectively managed.

The Internal Audit Office conducts annual year-end risk assessments, and rates the importance and possibility of each risk, then calculates the risk value according to the results of the rating. The risk value becomes the basis for the following year's audit plan.

In 2021, the audit results did not show any internal control deficiencies and abnormalities. Nevertheless, 80 concrete suggestions for improving operational procedures were proposed as ways to improve the quality of management. The improvements and suggestions are to be tracked on a quarterly basis until they have been completed.

Risk Management Scope

TWM integrates and manages various important risks that may affect operations and profits by proactive and cost-effective manner along with a response mechanism from the three-level risk management.

The company's important risks include "Operating risk", "Risks related to information privacy and security", "Innovation risk"... and so on. Please read the detail content in the company's annual report.

Risk Management Structure

Risk Operation

TWM sets up "Risk Management Committee" for supervising and strictly controlling risk management related issues, and promotes a risk management-oriented management model to achieve the goal of improvement continuously. The Risk Management Committee is hold at least once every six months, and communicates with various functional committees as “Operations and Management Committee”, “Occupational Safety and Health Committee”, “Communication Quality Assurance Committee”, “Environmental Management Committee”, “Cyber Security and Data Privacy Protection Committee” , “ESG Steering Committee” and “Innovation Management Committee” and other special committees to discuss the issues of risk management regularly , for accurately control risk issues in different fields.

In the event of a major event or proposal, each responsible unit shall report it to a meeting of operation management or each management committee to decide the necessary measures. Each functional committee not only proactively focus and identify the potential risk issues within internal and external for the company, but bring up appropriate solutions.

The operation record of the “Risk Management Committee” is coordinated and submitted by the Internal Audit Office to the chairman for approval. The Internal Audit Office follows up the status of operation and report to the Board of Directors at least once a year to ensure that relevant risk issues are effectively managed.

The company has proactively promoted the mechanism of risk management since 2011.
The followings are the status of main operating over the years.

• Formulated Risk Management Policy in 2011
• The Risk Management Committee was established in 2015
• Revised the Risk Management Policy in 2017
• The Risk Management Policy was revised the second time in 2020 and approved by the Board of Directors. The company implements the detection, analysis and identification of risk items within the scope of risk management, and strengthen the objectives of crisis prevention and resolution with rapid recovery to effectively control risks.
• The Chief Internal Auditor attended the Board of Directors to report the business of the Risk Management Committee on August 5, 2021.
• The Risk Management Committee meeting was convened for second time to discuss 17 issues in 2021.
• Revised the Risk Management Policy for third time and approved by the Board of Directors in2022.
• The Chief Internal Auditor attended the Board of Directors to report the business of the Risk Management Committee on August 1st , 2022.
• The Risk Management Committee meeting was convened in April and October 2022 to discuss 19 issues which are submitted by special(functional) committees to discuss the related issues of risk along with the mitigation plans.

Risk Management Procedure

Risk Management Matrix

Analysis of Key and Emerging Risks and Opportunities

△ Critical Risk
△ Emerging Risk：defined as an emerging and external risk that is expected to have a significantly long-term impact on the company's business.

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Category	Risk	Emerging Risk correlate with WEF category	Description	Trend	Impact	Mitigating actions
Regulatory	1. Legal Compliance △		The Digital Communication Act imposes different levels of obligations and penalties on "digital communication service providers"	On the rise	On Dec. 29, 2021, NCC unveiled the framework of Digital Communications Act, which was designed to regulate online platforms such as Google, Meta, YouTube, and Dcard, as well as internet service providers and caching service providers, with different degree of obligations and penalties for violation. NCC will publish the whole text in 2022 and organize public hearing to collect opinions and suggestions. The company is regulated because of the business scope which covering internet service providers and caching service providers. If there is a violation in the future, the company will be fines and even have a negative reputation impact.	The Company is closely monitoring the progress of the proposed bill and continues to communicate with the NCC in hopes of maintaining a regulatory environment conducive to the industry’s development. After the announcement of the draft, the company will evaluate the impact of obligations and penalties, and implement the improvement mechanism if necessary.
	2. Policy and legislation changes △		Changes in government organization increase the communication cost of the industry	Remaining stable	The Legislative Yuan approved a new law to establish a ministry of digital development on Dec. 28, 2021. The new ministry are expected to take place in the middle of 2022 at the earliest, and will be in charge of planning the nation's digital development policies, some of these areas currently fall under several government agencies, including the NCC, the National Development Council, the Department of Posts and Telecommunications, the Technology Division of the Ministry of Economic Affairs, the Electricity Resources Group of the Industrial Bureau, and the Information Security Division of the Executive Yuan. The Digital Development Department will help the digital transformation of the industry, but the separation of telecom supervision and counseling will increase the communication costs for operators and may even affect administrative efficiency.	The Company will pay close attention to the progress of the organizational changes, actively cooperate with the authority in the transfer of business, master new administrative procedures, and maintain effective communication with the supervisory authority to reduce communication costs.
Network bandwidth resources	3. Climate change/ natural disasters △		Climate change is a general environmental trend which is beyond our control, classified as an external risk. Climate change would result in extreme weather events such as typhoons and rainstorms with higher intensity, and prolonged periods of excessively high temperatures. The electricity and water supply would be unstable because of the risk from the extreme weather.	Remaining stable	Climate change has been considered as having material financial impact on business operations, and its impact is estimated to last for at least 10 years from now. Accordingly, we keep reviewing and modifying our climate strategy to cope with the impacts. The potential impact are listed as the following. An increase in elevated temperature and rainstorm intensity may lead to greater possibility of equipment damage and additional operating costs. According to the TCFD evaluation, the total loss due to typhoon in 2019-2030 is estimated to reach up to NT$58 million. Demand on air-conditioning for telecommunication facilities is growing as periods of excessively high temperatures prolonged. This may cause more electricity consumption and higher operating cost. Extra labor costs and working hours are needed for rebuilding destruction of natural disasters. Climate change and extreme weather may result in unstable supply of power and water, causing interruption in our operations.	Increase climate resilience by introducing high temperature resistant and moisture resistant equipment. Reinforcing the Standard Operating Procedure (SOP) of emergency repair as well as recovery after major disasters and holding disaster prevention drill regularly. Adding back-up electricity generators to the base stations located in natural disaster hotspots.
	4. IT infrastructure maintenance and operations		Annual high failure rate of infrastructure increases Obsolete systems and infrastructure to be phased out The demand for computer room air-conditioning equipment increases due to the growth of information systems	Remaining stable	The high years of use of the infrastructure will increase the failure rate and affect the operation of the information system。 Outdated systems and infrastructure that cannot meet business needs and affect competitiveness。 The demand for air conditioning and electricity in the existing computer room has increased to the warning value, which will not only increase operating costs, but also lead to higher carbon emissions, which will affect the company’s carbon reduction performance and carbon reduction costs。	Regularly review the operation status of basic equipment, consider the support status of manufacturers, replace and update in a timely manner, and design a backup system to ensure the normal operation of the information system。 Regular replacement of information infrastructure can improve system performance and introduce new information technology to support business development and enhance competitiveness。 The introduction of high-efficiency and low-energy-consumption air-conditioning systems and UPS equipment can not only reduce the risk of old equipment failure, but also save the consumption of water and electricity conversion, so as to increase capacity and achieve the goals of carbon reduction and maintenance cost reduction at the same time。
	5. Telecommunication technology innovation		Due to high frequency, 5G base stations have limited network coverage. Due to high capacity and complex computing, 5G base stations consume more power.	On the decline	The small coverage of 5G base stations requires more base stations to provide a good quality of network experience, thereby raising the cost of 5G network construction. Because 5G base stations have a large bandwidth and high capacity, they can provide users with faster Internet access rates, resulting in increased power consumption. The user terminal device consumes more power because it needs to take into account both 4G and 5G high-speed transmission. Due to the COVID-19 level 3 alert, the transfer of base stations with high network load affects the user experience.	In response to network coverage and capacity requirements, 5G base stations have introduced beamforming technology and a massive antenna array technology to improve network coverage problems caused by high frequency. Adopt advanced features such as spatial multiplexing and MRC/IRC to reduce mutual interference, thereby improving signal quality and reducing power consumption. Take a more proactive network energy saving response and plan in advance for spectrum reorganization, equipment consolidation and phasing out. To expand the capacity of the new high-load base station for homework and extend the smart energy-saving function of the base station for the original high-load base station in the commercial area.
	6. Bandwidth resources planning		Newly released private network spectrum, enterprises will extend the cost recovery time of existing spectrum.	Remaining stable	Newly released private network spectrum, enterprises turn to build their own network, which affects revenue and cost recovery of existing spectrum acquisition and affects subsequent operating costs.	With a complete and highly integrated vertical field solution, the enterprise private network can be quickly deployed before the private network spectrum can be released.
Information security	7. Information privacy and security △△	Technological	1.Personal privacy regulations in Taiwan and around the world are becoming stricter, while public awareness of personal information protection is getting higher. Predictably, the competent authority will strengthen information security (IS) and privacy supervision in the next year. 2.Emerging product and services would potentially increase the possibility of personal information leakage, and such leakage affects customers’ rights and company reputation, resulting in revenue loss. Thus, to provide various high-quality services, it is expected that the scope of innovative services and products will increase in the next 3 to 5 years, which will involve a large amount of PI and privacy processing.	On the rise	Personal privacy regulations in Taiwan and around the world are becoming stricter (e.g. expected revised relevant regulation). In recent years, customers’ demands for personal information (PI) protection have increased significantly. As a result, to establish and improve PI and privacy management, the company must continue to invest various resources and minimize external risks related to IS and privacy-related regulations of competent authorities and customer expectations. If we accidentally leak customers’ PI, we must face the relevant legal responsibilities, customer compensation, loss of users, administrative penalties, revenue loss, and reputation damage.	In response to the external impact of information security (IS) and privacy, we must 1. build a customer personal information (PI) and privacy protection mechanism; 2. pay attention to international development trends and regulatory requirements; 3. cooperate with the development of innovative services and products; and 4. continue to optimize related processes involving PI and privacy. We verify the PI and privacy management effectiveness through an impartial third party. We continue compliance the ISO 27001 "Information Security Management System (ISMS)" and the BS 10012 and ISO/IEC29100 privacy framework standards certificates, integrating corporate operating procedures such as promote the IS maintenance plan. We also expand the scope of PI and management and privacy and obtain the certificate of the latest international privacy protection standard-ISO27701 "Personal Data Privacy Management System" to improve IS and privacy level.
	8. Cyber security △△	Technological	Network attack techniques change rapidly, and the scope of attacks expands to whole enterprises and upstream /downstream of the value chain Competent authorities are increasingly strict on the cyber security protection requirements for the telecommunications industry	On the rise	In recent years, industries around the world have faced various emerging cyber-attacks. We predict that hacking tactics will continue to change in the coming year, such as encrypting corporate files, theft of sensitive information, launching DDoS attacks, and even attacking upstream /downstream of the value chain. TWM is the critical infrastructure of telecommunications approved by the Executive Yuan and is one of the major telecommunications companies in Taiwan. If we cannot prevent nor counter the attack, we would have to take on relevant legal responsibilities, and face customer compensation, loss of users, administrative penalties, revenue reduction, and reputation damage. The competent authority has formulated information security management requirements for mobile broadband and requires telecommunications operators to implement information security management. We need to invest in the protection against cyber-attacks that will continue to increase, preventing cybersecurity-related hacker attacks and external risks.	In response to the external impact of cyber security, we must continue to invest resources to establish and promote security protection measures to fulfill the competent management of personal information and security management requirements. We review the effectiveness of the protection mechanism and the achievement of information security objectives, while reporting the progress and benefit to the Cyber Security and Data Privacy Protection Committee. Information security protection mechanism includes: 1. Implement the inspection of the external certification body and the NCC Mobile Broadband Information Security Management Requirements. 2. Conduct annual penetration test to simulate hacking for system security tests, and fix vulnerability as the improvement. 3. Establish various quantitative indicators to track the security level.
Business operation	9. Greenhouse gas emissions		Increase in costs from limitations on volume of carbon emissions. Supervision and concern from private entities may impact Company reputation. Carbon information disclosure demands (e.g., CDP). Increase in the rate of telecommunication facilities utilization leading to higher electricity consumption.	Remaining stable	To cater to business development in telecom industry, TWM has expanded scale of infrastructure, this may lead to increased energy consumption. However, this may lead to increased operating costs from regulations of international accords and Taiwan’s GHG Reduction and Management Act for limitations on carbon emissions. Private entities (e.g., Greenpeace) continues to focus on energy conservation from enterprises. TWM’s reputation may be harmed if we do not actively respond to their concerns. International accrediting bodies require for carbon information disclosure. Investor confidence in TWM may be lowered if we do not actively respond to their requirements.	Carry out organizational carbon emissions accounting. Establish Energy/ Environmental Management System. Support the government’s green energy policies. Deploy green infrastructure Improve energy efficiency Green energy marketing strategies Participation in international sustainability initiative movements and assessments
	10. Occupational safety and working rights		Occupational safety Crucial technical talent have been occurred work-related injuries. Contractor's woks security vulnerability. Working rights Workplace discrimination leads to violation of law	On the decline	Occupational safety If work-related injuries increase, it may cause physical and mental injury to employees and may also affect company operations. If there is a loophole in the contractor's works safety, it will affect the goodwill. Workplace Human Rights Discriminatory treatment in remuneration, benefits, promotions, raises, terms, training, working conditions or employment rights due to gender, age, marital status, race or disability.	Occupational safety Operate Occupational Safety and Health Management System (ISO 45001:2018). Strengthen workplace safety education and training for all employees. In particular, safety and health care and training are provided for colleagues applying for work-related injuries. Formulate standard operating procedures and provide appropriate use of personal protective equipment. Formulate standard operating procedures for contractors' safety, health and environmental protection management. Provide contractors to follow and implement contractor management and supervision. Workplace Human Rights Our job vacancies are filled through a public recruiting process. Employee remuneration, benefits, promotions, raises, terms, training, working conditions or employment rights are not affected by gender, age, marital status, race or disability. The aforementioned principle is defined in the work rules.
	11. Sustainable and Responsible Supply Chain Management △		Fail to govern ESG risks throughout the supply chain. Extreme climate could interrupt resource transportations, causing shortage of raw materials. Regulation risks, such as the gradual tightening of regulations on carbon emission management, could increase managing costs. The COVID-19 outbreak affects the electronics supply chain. Factory employees infected would worsen the shortages of the mobile phone supply chain. The COVID-19 outbreak affects the cable engineering supply. Engineers infected with the disease would be unable to provide services, which leads to the delay of the construction project. COVID-19 has severe impacts on global transportation, the workload of the global transportation industry has increased rapidly, while the port congestion of the shipping industry led to delayed delivery, and TWM was unable to obtain the goods on schedule.	On the rise	Suppliers may affect TWM’s reputation through misconducts, such as privacy violation, labor rights violation, environmental pollutions, that will lead to shutting down due to official investigations. Carbon emission management system. For example, the “Major Electricity Consumer Clause” may directly lead to an increase in TWM’s operation costs. As for carbon taxing, it can directly increase suppliers’ operation costs, thus indirectly rises TWM’s expenditure for procurement. Taking turns and labor infection would cause labor shortages, affecting IC production and making the supply of smart phones short. This may result in insufficient inventory for branches. Labor absence could reduce raw material supply as well as attendance for construction projects such as cable laying. Since these projects may not be completed on schedule, the pandemic could affect telecommunication service of TWM. COVID-19 cases would cause production suspension and reduce supply, followed by delayed delivery and unavailability of necessary items and goods required for operation, which may interrupt TWM’s continuous operation. Extreme climates caused by climate change may damage suppliers’ facilities or interrupt the distribution routes of services, impacting TWM’s operations.	Identify critical suppliers. Conduct ESG assessment and risk analysis to the suppliers, requesting suppliers with high ESG risks to remediate. Establish cooperation with low carbon emissions suppliers or suppliers with excellent carbon management, building a sustainable supply chain together. Identify the products and services with more serious impacts, make an inventory of their supply chain and analyze the impact of COVID-19, identify the weaknesses of the supply chain, and seek alternative solutions, such as: obtaining raw material sources in a decentralized manner, considering multiple suppliers and contractors, to confirm the stability of supply chain. Investigate key suppliers, require them to promote the operation continuity management including COVID-19 issues, and understand the promotion situation through the annual ESG assessment. Conduct carbon inventory and attain better understandings on emission hotspots, which will be the basis of the following actions on supply chain carbon reductions as a response to climate change.
	12. Infectious disease pandemic and epidemic △△	Societal	Operational disruption caused by employees infected with COVID-19；infected with COVID-19 of technical talent has led to a decline in the quality of communication services and affected operations.		Infectious disease has different virus variants with increased contagiousness, which leads to an increased risk of infection among employees. In addition to affecting the health status of infected employees, the disease also affects the physical and mental health of employees who have been identified or investigated, causing negative impact on the stability of the company's operations; Such impact is expected to continue for another year. The source of infection comes externally and is highly infectious, so such risk cannot be controlled by the company. Most of our business locations and office buildings are located in large cities where tourists gather, which leads to a higher risk of contracting the disease.	we formulate our standard process that is beyond government anti-epidemic measures to prevent infection and to protect the physical and mental health of all employees and customers. 1.Formulate a standard table for the identification of epidemic prevention cases, which is better than government regulations for epidemic identification or investigation, which prevents the risk of infection in stores and offices. 2. According to the business needs of each unit, the rapid COVID test kits are prepared by the company, or the expenses on the kits can be reimbursed after purchase, so that employees can use at ease. 3. Provide Service Leave and encourage employees to be vaccinated to protect themselves and others. 4. Protect critical technical talent workers who are outside the office to maintain communications services. 5. According to the epidemic situation, start the personnel backup plan, work in divided groups and work from home. 6. Sufficient stockpiles of anti-epidemic materials. 7. Formulate a notification management mechanism to prevent and block infection. 8. Real-time reporting of daily M+ messages, tracking and care management of each employee to prevent any possible sources of infection. 9. Formulate and update the [Office Epidemic Prevention Management Guidelines] in response to the epidemic, including: improve colleagues' awareness of epidemic prevention, restrict visitors, and avoid cross-building contact and other epidemic prevention measures to reduce the risk of infection.
Market	13. Alternative and emerging business models		The replacement cycle of Mobile phone is extended. It’s difficult to attract users to transfer higher-rate plans by only offering flagship handsets’ plans.	On the decline	Due to the high similar offering in mobile phone rate plans among operators, the threshold for users to switch operators will be lowered. Telecom companies have expanded battlefields by offering a variety of mobile-OTT mixed programs to strengthen the sales numbers. Therefore, the Company is facing the impact beyond the original competition in the telecommunications industry.	To the competitive situation beyond the telecommunications industry, the Company has launched Disney+ in Taiwan in 2021, which is exclusively cooperation in the telecom market. Besides, the Company has integrated Fubon Group's resources to launch the "momobile" and "momo plus" rate plans. Using these unique plans to escalate the competitive advantages of TWM.
	14. Intensified Competition △△	Economic	1.Due to over-saturated market, small companies are seeking to merge with the big players. The competition between three major players will transition to diversified innovative services and the vertical integration of business applications in the next 3 to 5 years. 2.Telecom companies have invested in the broadband network market. Through cooperation with broadband operators, telcos aim to build networks to improve network stability and deploy the smarter home market, leading to the escalation in the competition of Taiwan Mobile’s “Double Play plans”.	On the rise	The merger of Taiwan Mobile and Taiwan Star, internal risks include, 1. The willingness of the monthly-fee payment is different between the two companies, how to manage the demand and avoid the loss in the number of users to reduce revenue and financial impact is crucial. 2. The challenges and the cost impact on integrating the two operating systems and network. The External risk is to stimulate the consolidation of telecom companies and accelerate the coming of the “ New Three Kingdoms” era. Telecom companies seeks to cooperate with broadband ISP operators to replicate the model of “Double Play Plans”, which may erode the sales and revenue of TWM “Double Play Plans”.	For the price-sensitive users of Taiwan Star, the Company has launched exclusive "momobile", “momo plus", ”Just Kids” plans to reduce the impact of consolidation. The Company has launched diversified value-added services such as Disney+, GeForce NOW cloud games for facing the coming of the “ New Three Kingdoms” era. In addition to the 5G battlefield, the company will introduce innovative application services of value-added, IOT and wearable devices to expand revenue. Using the successful model of the Fubon Group's cooperation, the Company has planned to expand coverage area of “Double Play Plans” and deepened smarter home market business via bundle plans of smarter home appliances. The Company cooperates with broadband operators to build network to improve connection stability and develop the smarter home market.
	15. Changing customer requirements △		Due to the effect of Covid-19, the demand of work from home, on-line shopping and video streaming has enhanced users’ requirements for the quality of network connection. Due to the surge in demand for online shopping, telecom companies have deployed e-commerce shopping business to seize the market opportunities.	On the rise	Users’ demand on internet and connection stability have enhanced the applications of “Double Play Plans”. But on the other hand, if the quality of the connection stability is compromised would lead to the loss of users. Telecom companies have launched rate plans similar to "momobile", bundling bonuses or offer bonuses as giveaways for e-commerce’s online shopping, which may erode the Company’s uniqueness and profitability in e-commerce online shopping.	The Company has planned to launch rental service of mesh Wi-Fi to strengthen the quality of broadband service and expect to expand revenue through the consolidation of miscellaneous services. To strengthen 5G selling competitiveness, the Company has deepened the cooperation with momo and launched "momo plus" rate plans. Besides, the Company also has offered TWM users to pay the mobile bills by momo coins. The Company plans to build a new channel on momo Shop to strengthen the momo ecosystem and gain resource synergy effect within Fubon Group.
	16. Demographic changes    △		The negative growth in the population will reduce mobile subscriptions. The aging society has brought out different service needs.	Remaining stable	Due to Taiwan’s population has begun aging and negative growth, the demand for mobile service is decreasing, which would erode the Company’s revenue in the long term. The demand for mobile services is changing, and the demand for mobile phone bundled plans has gradually declined.	The elder users tend not to replace the handsets and is hard to stimulate elderly users to apply higher-rate planes, the Company has launched miscellaneous rate plans of products and value-added service for customers to apply.   The Company has launched “My Angel” service to offer bundled plans of wearable devices and value-added service, which can provide the non-stop caring for the elder users and lessen the risk of getting lost for elder customers.
Talent management	17. New technology training needs		Not able to import emerging key technologies or service training in a timely manner Lack of ability to attract and retain key talent. Increase in training costs.	Remaining stable	It will be difficult to meet customer needs and reduce competitiveness if key technologies and service training are not introduced in a timely manner. To enhance competitiveness, how to effectively attract and retain key talents.	Implemented training plans with telecom technology manufacturers to prepare employees to master new technologies. Train internal seed lecturers to compile e-Learning electronic textbooks and create new technology training databases.
	18. Change of skill set needed		Demand for new tech talent Too rely on particular talent Increase in talent retention or training costs	Remaining stable	With technology trends changing so quickly, we may fail to sustain a competitive advantage if we are unable to build or acquire talent.	Based on business trends and corporate strategy, we conduct training needs assessment every year to create annual training plan. We implement multifaceted training and development activities in order to develop employees with skills they need to improve job performance and lead to greater productivity and increase company competitiveness. Technical supervisors map out required skills and licenses by assessing future trends. Supervisors evaluate employees on skills/licenses and tailor training programs accordingly. Employees will collaborate with supervisors to create their own individual development plans in accordance with feedback from multifaceted appraisal system and career plans. This helps employees acquire knowledge and skills they need at work or for their next role within the organization. The company initiates "Work Club" scheme to encourage cross departmental collaboration. Employees from different departments can work on projects together, learn new things from each other, which contributes to their overall personal and professional development. We develop professional skills employees need to engage in innovative services, expand their breadth of knowledge. Upskilling can give employees at all levels the skills to fulfill company's transformation
Innovation management	19. Innovation kinetic energy growth △		If the innovative applications fail to create customer value, it will affect customer adoption willingness and fail to increase customer numbers and revenue.	Remaining stable	If the innovative applications cannot create enough customers and bring enough revenue, it will have two effects. First, they cannot attract highly competitive partners. Second, they cannot continue the iteration of applications and services, which will affect the growth momentum, and thus cannot increase revenue.	In consumer business, home business and enterprise business, we will actively look for innovative applications and partners with competitiveness and influence to jointly create customer value.
	20. Responsiveness to the trend of innovation		If we fail to grasp the trend of innovation leads to delay in the preparation of innovative services, we will miss the opportunity to launch services and enter the market in advance.	Remaining stable	If we cannot prepare well in advance, we will not get competitive partners, key customers or application fields. Then our competitors may take the lead, and make Taiwan Mobile miss the potential opportunity so as not to catch the future growth.	Following the trends of consumer and enterprise management in the post-epidemic era, we can develop forward-looking innovative applications through strategic alliances or cross-industry cooperation, across the consumer, home and enterprise business units.