On the evening of December 13, according to the announcement of the Taiwan Stock Exchange, Hon Hai Precision Board of Directors, through its subsidiary Foxconn Industrial Internet Co., Ltd., initial public offering of RMB ordinary shares and applied for listing on the Shanghai Stock Exchange, which is also after Dingpeng , The second Pan-Hon Hai Group went public in mainland China. Hon Hai said it will convene an extraordinary general meeting in January 2018 to vote on the listing plan for Foxconn Industrial Internet Corporation.
Hon Hai Group said that the company for the global operation of international companies, Foxconn Industrial Internet Co., Ltd. apply for listing on the Shanghai Stock Exchange for the Group to develop the established strategic approach in line with Hon Hai continued investment in mainland China in recent years, and the United States, Japan, Europe Global layout.
In the meantime, Hon Hai said in a statement that the application for listing by Foxconn Industrial Internet Co., Ltd. will bring tremendous opportunities for Hon Hai's development. This will not only help the Group retain its key local talents and share the dividend of development, Use mainland talents, funds and markets to build an industrial internet ecosystem to achieve the Group's long-term, stable, development, science and technology, and international business objectives.
Reporters in the day eye check found that Foxconn Industrial Internet Co., Ltd. was established in March 2015, sponsored by Robot Holdings Ltd. and Hong Fu Jin Precision Industry (Shenzhen) Co., Ltd. Its business mainly includes cloud computing, network communications, things Networking, etc. Hon Hai said that while the Industrial Internet Company is listed, Hon Hai Group will still hold 85% of its outstanding shares.
In an interview with the "Daily Economic News" reporter, top executives from Foxconn Technology Group said that industrial internet companies are the backing of Foxconn's entry into the industrial Internet (Industry 4.0) in support of the ground-breaking development of the entire Group's industrial Internet.
In fact, in June 2015, Gou had remarked at the Hon Hai shareholder meeting that Hon Hai's business in mainland China may be disembarked into the Shanghai and Shenzhen stock markets within the next three to five years and that this time through the Foxconn Industrial Internet Listing Program Gou honored Gou said.
'In the past, each sub-group had its own layout, and now it is integrated and the technologies previously integrated into different product lines (mobile phones, TVs, computers ...) are integrated. The listing of Industrial Internet is a significant step toward Foxconn's business integration, There are other more subsidiaries that will consider going public, "the top executive said.
In recent years, foundry profits gradually thinning, Hon Hai has always wanted to rip off foundry labels, to high-tech companies to change.Sharp acquisition, the United States to build a series of actions, all of which show the determination of Hon Hai transformation.Currently Hon Hai Business is no longer just a foundry, but also involves areas such as e-commerce, artificial intelligence, car networking, etc. Although multiple measures have taken place, Hon Hai seems to be still a war fighter.
Hon Hai Precision posted its third-quarter results of 2017 on the 14th of November, indicating that Hon Hai's third-quarter net profit fell 39% YoY, the largest decline in nine years. As at the end of September, the third quarter of Hon Hai Precision Industry Revenue was 1.08 trillion yuan NT, basically the same as the same period of last year.
The subsidiary IPO in the Shanghai Stock Exchange, there are also claims that the slightest trend with the technology companies in recent years.For the subsidiary in the A-share market, the relevant industry insiders pointed out that the A-share liquidity and high transaction volume, while the Chinese mainland market To Taiwan businessmen, they have higher potential and higher PE ratio.