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1Q 2023 profit margins up on gross and operating basis First quarter revenue at record high for period; EPS NT$0.93, down on-year Current quarter performance expected to decline on-quarter and on-year Low visibility to keep full year outlook conservative 11 May 2023, Taipei, Taiwan – Hon Hai Technology Group (“Foxconn”) (TWSE:2317) today announced its first quarter 2023 financial results. In the January-March quarter, revenue reached a new record for the period, while profit margins on a gross and operating basis both rose. However, EPS in the first quarter was NT$0.93, down from a year earlier due to asset impairment recorded by an investment company. Looking ahead to the second quarter, with pandemic-driven demand ending to give way to a period of inventory adjustment in the industry, on top of off-peak seasonality, performance in the current quarter will decline on a sequential and annual basis. The outlook for the full year remains f ....
Signed Manufacturing and Joint Venture Agreements for Product Development with Lordstown Motors, Gaining More Talented Employees and Targeting More EV OEM Clients12 May 2022, Taipei, Taiwan / Lordstown, Ohio. Hon Hai Technology Group (“Foxconn”) (TWSE: 2317), the world’s largest technology manufacturer and service provider, and Lordstown Motors Corp. (“Lordstown Motors” or “LMC”) (Nasdaq: RIDE), an OEM of electric light-duty trucks focused on the commercial fleet market, have announced today the signing of a contract manufacturing agreement and a joint venture agreement for product development. As previously disclosed on Nov 11, 2021, Hon Hai and Lordstown entered into an Asset Purchase Agreement (APA) regarding LMC’s production plant in Lordstown, Ohio. The transaction and asset transfer were in progress and was approved by regulatory authorities. On May 12, 2022, Hon Hai announced the completion of the fa ....