Foxconn first launched the meeting on March 8th.
The 17th Issue Review Committee of the China Securities Regulatory Commission is scheduled to hold the working meeting of the 41st Issue Review Committee in 2018 on March 8, 2018 to review the initial application from Foxconn Industrial Internet Co., Ltd.
It is understood that Foxconn's parent company Hon Hai Precision Industry Co., Ltd. is the world's largest international group of 3C foundry services. Huatai Securities released a research report that Foxconn, as a leader in the transformation of traditional electronics manufacturing intelligent manufacturing, has accumulated rich experience in advanced intelligent manufacturing, and will actively promote the construction of industrial Internet and the transformation and upgrading of China's smart manufacturing industry.
Guotai Junan stated that Foxconn, as the world's largest foundry of 3C products and semiconductor equipment, has been relying on the rapid development of the mainland’s population and land dividends over the past 25 years. However, under the background of rising domestic labor costs, the company’s revenue declined and transformation was imminent. The proposed listing shows that the company intends to use the industrial Internet as a breakthrough to help the company survive the transitional period. It is expected that under the background of the State Council's support for the construction of industrial Internet infrastructure, the Industrial Internet will usher in an opportunity for development in the coming years.
According to statistics of Huatai Securities, if the company has a smooth IPO, upstream companies are expected to benefit. The subject of the concept shares are An Cai Gaoke, Jingquan Hua, Guangyun Da, Fenda Technology, Yuhuan CNC, Acer Technology, Jintuo Stock, New Asia Process, East China Science and Technology, Water Resources, Guangxin Materials, Jinlong Machinery and Electronics, Chi Electrical, Powerway Alloys, Tony Electronics, East Sun Branch, Sunlord Electronics, and Yunhai Metals. In addition to the first company that is a shareholder of Foxconn, the others are company suppliers or service providers.
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