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    2317   TW0002317005

HON HAI PRECISION INDUSTRY CO., LTD.

(2317)
  Report
End-of-day quote Taiwan Stock Exchange  -  2022-09-29
102.00 TWD   +0.49%
09/30Hon Hai Precision Unit Buys $361 Million Stake in Mexican Firm
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09/28Foxconn Injects $558 Million in Two Subsidiaries
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09/27Azumo Partners with FIH Mobile to Create Efficient, Reflective LCD 2.0™ Devices
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Taiwan security officials want Foxconn to drop stake in Chinese chipmaker - FT

08/09/2022 | 09:45pm EDT

Aug 10 (Reuters) - Taiwan's national security officials want to persuade Apple Inc's supplier Foxconn to unwind an $800 million investment in Chinese chipmaker Tsinghua Unigroup, the Financial Times reported on Wednesday.

The deal will definitely not go through, the report said, citing a senior Taiwanese government official involved in national security issues. (https://on.ft.com/3A8mzuM)

Taiwan, the world's largest contract electronics maker, has become increasingly cautious about China's ambition to boost its semiconductor sector. It has proposed new laws to prevent what it says is China stealing its chip technology, amid rising concerns in Taipei that Beijing is stepping up its economic espionage.

The island's government prohibits companies from building their most advanced foundries in China to ensure they do not offshore their best technology.

Taiwan faces mounting pressure from China, which considers the democratically governed island its own territory.

Taiwan's cabinet commission has yet to formally review the investments, the FT report on Wednesday quoted an unnamed person who was briefed on the matter as saying, adding that officials from the National Security Council and the Mainland Affairs Council believe the deal needs to be blocked.

Foxconn said in a statement it has submitted reports to Taiwan authorities about the investment and will continue to talk to government officials. It did not elaborate.

Tsinghua Unigroup did not immediately respond to a Reuters request for comment.

It is clear that they have elevated this to the national security level and the prospects are getting dimmed, the FT report cited one person close to the company as saying and added that the deal looks more difficult to pass through with increasing tensions in the Taiwan Strait.

Tensions have escalated in the Taiwan Strait after U.S. House of Representatives Speaker Nancy Pelosi visited the Chinese-claimed self-ruled island last week, a move that Beijing condemned as a threat to peace and stability.

Last month, Foxconn said it was a shareholder in embattled chip conglomerate Tsinghua Unigroup via a $798 million investment by a subsidiary. (Reporting by Anirudh Saligrama in Bengaluru; Additional reporting by Jeanny Kao and Yimou Lee; Editing by Sherry Jacob-Phillips)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -3.00% 138.2 Delayed Quote.-19.76%
HON HAI PRECISION INDUSTRY CO., LTD. 0.49% 102 End-of-day quote.-1.92%
MSCI TAIWAN (STRD) -1.08% 459.986 Real-time Quote.-37.48%
All news about HON HAI PRECISION INDUSTRY CO., LTD.
09/30Hon Hai Precision Unit Buys $361 Million Stake in Mexican Firm
MT
09/28Foxconn Injects $558 Million in Two Subsidiaries
MT
09/27Azumo Partners with FIH Mobile to Create Efficient, Reflective LCD 2.0™ Devices
AQ
09/27Foxconn Unit Honxun Electrical Buys Chinese Electronic Components Maker For $126 Millio..
MT
09/26Hon Hai Precision, PT Indika Energy Form EV JV in Indonesia
MT
09/26Hon Hai Precision, Stellantis to Form JV
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09/26Foxconn Forms JV With Stellantis, Grows Stake In Battery Materials Manufacturer
MT
09/21India expects at least $25 bln investment under semiconductor incentive scheme
RE
09/20Foxconn Unit Sells Viu International's Stake
MT
09/20Vedanta-Foxconn JV Signs MOUs with Gujarat, India to Set up Fabs
MT
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Analyst Recommendations on HON HAI PRECISION INDUSTRY CO., LTD.
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Financials
Sales 2022 6 377 B 201 B 201 B
Net income 2022 152 B 4 771 M 4 771 M
Net cash 2022 328 B 10 316 M 10 316 M
P/E ratio 2022 9,32x
Yield 2022 5,36%
Capitalization 1 414 B 44 477 M 44 477 M
EV / Sales 2022 0,17x
EV / Sales 2023 0,16x
Nbr of Employees 826 608
Free-Float 87,4%
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Technical analysis trends HON HAI PRECISION INDUSTRY CO., LTD.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 16
Last Close Price 102,00 TWD
Average target price 137,60 TWD
Spread / Average Target 34,9%
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Managers and Directors
Yang-wei Liu Chairman & Chief Executive Officer
Te Tsai Huang Head-Finance & Deputy Spokesman
Tsing Yuan Hwang Independent Director
Kuo Cheng Wang Independent Director
Kuo Chuan Kung Independent Director
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