On March 8, 2018, the 41st working meeting of the 17th Issue Review Committee of the China Securities Regulatory Commission was held to evaluate the initial public offering (IPO) application from Foxconn Industrial Internet Co., Ltd. This marked a significant step in the company’s journey toward becoming a publicly traded entity and highlighted its growing role in the industrial internet sector.
Foxconn’s parent company, Hon Hai Precision Industry Co., Ltd., is globally recognized as the largest manufacturer of 3C (computing, communications, and consumer electronics) products. According to a research report by Huatai Securities, Foxconn has been at the forefront of transitioning traditional manufacturing into smart, automated production. The company has accumulated extensive experience in advanced intelligent manufacturing and is actively pushing for the development of the industrial internet and the modernization of China’s manufacturing industry.
Guotai Junan analysts noted that over the past 25 years, Foxconn has benefited from China’s demographic and land-based economic advantages. However, with rising labor costs on the mainland, the company faced declining revenues and needed to adapt. The decision to go public suggests that Foxconn aims to leverage the industrial internet as a key driver for transformation, helping it navigate this transitional phase. With government support for industrial internet infrastructure, the sector is expected to see significant growth in the coming years.
According to Huatai Securities, if the IPO proceeds smoothly, upstream suppliers and partners are likely to benefit. These include companies such as 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. While some of these firms are direct shareholders of Foxconn, others serve as key suppliers or service providers within the broader supply chain.
This move underscores not only Foxconn’s strategic shift toward digital transformation but also the broader implications for the entire electronics manufacturing ecosystem in China.
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