Hon Hai Technology Group's July Revenue Report and Future Outlook in China

TapTechNews August 5th news, Hon Hai Technology Group, the parent company of Foxconn, today released its July 2024 revenue report. The sales in July were NT$572.35 billion (TapTechNews note: currently about 125.569 billion yuan), with a year-on-year increase of 22% and a month-on-month increase of 16.63%.

The cumulative sales of Hon Hai from January to July 2024 were NT$3446.296 billion (currently about 756.09 billion yuan), with a year-on-year increase of 6.54%.

Based on the fact that it has already entered the peak season in the second half of the year, the operation will gradually heat up. Looking forward to the third quarter, Hon Hai expects to have both year-on-year and month-on-month growth.

On July 23rd, the Foxconn Technology Group, a subsidiary of Hon Hai, signed the Strategic Cooperation Agreement between the Henan Provincial Government and Foxconn Technology Group to Accelerate the New Business Project.

Foxconn will invest in the construction of a new business headquarters building in Zhengzhou to carry the function of the new business headquarters. The first phase of the project is located in the Zhengdong New District, with a construction area of about 700 acres and a total investment of about 1 billion yuan. It mainly builds seven centers including the headquarters management center, R & D center and engineering center, strategic industry development center, strategic industry financial platform, industrial research institute and key talent center, marketing center, and supply chain management center, which will provide industrial resources, technical force and other related supports for Foxconn to implement the 3+3 strategy on the Chinese mainland.

TapTechNews noticed that from February to April 2023, Liu Yangwei, the chairman of the Foxconn Technology Group, visited Henan three times in just over 60 days and promised to再造一个新富士康 in Henan. At the inauguration ceremony of the new business headquarters held on April 25 last year, Foxconn announced that it will continue to deeply cultivate in Henan and implement the 3+3 strategy to make the Zhengzhou base a core base and important benchmark for Foxconn's global innovation and industrial layout.