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MarketScreener Homepage  >  Equities  >  TAIWAN STOCK EXCHANGE  >  Foxconn Technology Co Ltd    2354   TW0002354008

FOXCONN TECHNOLOGY CO LTD

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Foxconn Technology : China project mired in loan dispute after Taiwan's Foxconn founder pulls out

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10/03/2019 | 02:25pm EST

A panel production project in the Chinese city of Guangzhou has stalled amid a dispute over NT$35 billion (US$1.12 billion) in loans following the pullout of Foxconn Technology founder Terry Gou, reports said Wednesday (Oct. 2).

Falling demand for panels and the trade war between China and the United States have been mentioned as factors, leading to the start of production scheduled for last month being delayed, Mirror Media reported. The '10.5 generation' plant was a joint venture involving Guangzhou City Government and Sakai Display Products Corp. (SDP), a division of Foxconn-controlled Sharp, the report said.

The dispute over loans has impacted potential suppliers in Taiwan and Japan, who are facing fewer orders and have turned to Foxconn and Sharp to ask for a solution to their problem.

On the other hand, analysts have praised the decision to postpone production, as falling demand might lead to the company losing money on each panel sold. It would be better if they could wait until a possible recovery for the sector in 2021, Mirror Media reported.

Gou reportedly withdrew all his investments in SDP recently, according to the report. Foxconn refused to comment on the case since it was not a direct investor in the Guangzhou project, and Sharp argued it was not the largest investor.

© Pakistan Press International, source Asianet-Pakistan

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Financials (TWD)
Sales 2019 123 B
EBIT 2019 7 731 M
Net income 2019 8 649 M
Finance 2019 60 672 M
Yield 2019 4,70%
P/E ratio 2019 10,9x
P/E ratio 2020 10,4x
EV / Sales2019 0,28x
EV / Sales2020 0,25x
Capitalization 95 336 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Average target price 65,17  TWD
Last Close Price 67,20  TWD
Spread / Highest target 17,6%
Spread / Average Target -3,03%
Spread / Lowest Target -22,6%
EPS Revisions
Managers
NameTitle
Han Ming Li General Manager
Chih Chien Hung Chairman
Tzu Hung Li Head-Finance
Hsueh Kun Li Director
Fang I Cheng Director
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