Hon Hai’s Financial Report
Hon Hai’s financial report on the 5th showed that revenue in April reached RMB 380.925 billion, a month-on-month increase of 9.6% and a year-on-year growth of 0.3%. It finally returned to the double-increasing track.
According to financial reports, Hon Hai’s revenue in the first four months of this year was 1.31 trillion yuan, a year-on-year decrease of nearly 8.74%, mainly affected by the epidemic. Among the main products, personal computers and tablets performed best, followed by servers and Netcom and other enterprise products, and consumer electronics such as smartphones were the weakest. Hon Hai Chairman Liu Yangwei said that all product lines are facing recession, but the second quarter is still expected to return to the same level as last year.
In the second quarter, orders from the first quarter are expected to be delayed. In particular, the industrial production capacity of the Fortune Group is relatively global and the demand is relatively stable. At present, Hon Hai is still struggling to grow slightly this year. However, the biggest problem is still orders and labor. Recently, news came out that due to the sharp decline in orders, Shenzhen Foxconn required employees to start a forced vacation for four months from May 1, and the Zhengzhou plant also stopped recruiting employees. However, the official has come forward to deny and clarified that all factories in China are operating normally without large-scale layoffs and vacations.
However, there is also public opinion that it is not Hon Hai employees who are forced to go on holiday but outsourcers. Since 2010, the manpower agency has been the object of close cooperation between Hon Hai and these employees are not legally Hon Hai, and most of the news is currently It comes from Chinese Internet rumors. The real good news is that the supply chain revealed that Hon Hai ’s plant in Andhra Pradesh, India, has been approved to resume work. At present, the main local production capacity is in response to the demand of Chinese brand mobile phones.
Overall, foreign legal persons are still optimistic about Hon Hai, and Morgan Stanley even expects that this year’s net profit per share is expected to reach 7.74 yuan, with a target price of 95 yuan. Mainly from the anticipation of iPhone SE’s hot sales, and Fuzhikang’s profit recovery in advance. And it is expected that the business revenue of electric vehicles, digital health and robots will grow substantially this year, and it is expected to increase gross profit margin. However, other foreign investors in the US system also hold a buy rating, optimistic about the bottom rebound.
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Hon Hai's financial report on the 5th showed that revenue in April reached RMB 380.925 billion, a month-on-month increase of 9.6% and a year-on-year growth of 0.3%. It finally returned to the double-increasing track.