Abstract: On April 3, 2024, at 07:58 (Beijing time), a magnitude 7.3 earthquake occurred in the waters of Hualien County, Taiwan Province. The Institute of Geophysics, China Earthquake Administration initiated a rapid response after the earthquake and organized geophysics researchers to estimate the source model and seismic radiation energy of the earthquake. Based on the source model, the shakemap and coseismic deformation field simulation were carried out. The results indicate that the earthquake occurred at the boundary between the Philippine Sea Plate and the Eurasian Plate, primarily characterized by a thrust mechanism, with energy released predominantly in the first 35 seconds. The earthquake intensity in the extreme seismic area possibly have reached more than X degree, with a potential disaster area of approximately 35000 km². The earthquake also caused significant coseismic displacements, with the maximum horizontal displacement reaching 0.52 m and the vertical displacement reaching 1.18 m.