• Source: Foxconn Industrial Internet

Foxconn Industrial Internet Co., Ltd. (Fii; Chinese: 富士康工业互联网; pinyin: Fùshìkāng Gōngyè Hùliánwǎng) is a publicly listed company that engages in the manufacture and sale of electrical equipment that includes telecommunications equipment, cloud computing equipment, precision tools and industrial robots.
It is a subsidiary of Foxconn and is headquartered in Shenzhen.




Background


Fii was founded in 2015 in Shenzhen. It was originally a wholly-owned subsidiary of Foxconn that was set up as a strategic investment platform uninvolved in actual business operations.
In 2017, Fii was restructured to become a joint stock limited company.
On 8 June 2018, Fii held its initial public offering (IPO) becoming a publicly listed company on the Shanghai Stock Exchange. It was the second company in China to be fast-tracked for its listing process. At the time it was the largest IPO in China since 2015 and raised 27.1 billion yuan. On its trading debut, Fi shares rose 44% making it valuable tech company listed in mainland China at the time.
It was reported that Terry Gou wanted to expand Foxconn's business beyond contract manufacturing and through Fii, increase its focus on automation and smart manufacturing technology. Fii's own prospectus revealed net margins that were over 50 percent higher than its parent's.
In December 2022, the Taiwan Government fined Foxconn NT$10 million for investing in Tsinghua Unigroup without seeking regulatory approval and was in violation of the Cross-Strait Act. The investment which was executed in July that year was done through Fii. As a result, Foxconn stated it would sell out its holdings in Tsinghua Unigroup,
In July 2023, it was reported that Fii would sign an agreement with the Government of Tamil Nadu to invest Rs 16 billion to build a campus in Kancheepuram that would create 6,000 jobs. However Fii later on stated it had not signed any agreement.
In August 2023, according to a report, Fii would exclusively supply Apple with Vietnam-made servers for training and testing artificial intelligence services. The report also stated it had supplied servers to Amazon Web Services, OpenAI and Nvidia.
In October 2023, Chinese authorities stated Foxconn and its subsidiaries would be under investigation to see if they were abiding with laws and regulations. Fii shares dropped 10% as a result. In November 2023, Chinese tax authorities fined Fii 20,000 yuan for overstating expenses.




References






External links


Official website

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