Bubble or no bubble, this is the best stock for AI exposure: analyst
TAIPEI - Foxconn Industrial Internet Co., Ltd. (FII), a subsidiary of Hon Hai Precision Industry Co., Ltd. (2317.TW), denied circulating online rumors regarding reduced fourth quarter performance targets and business model changes for major customers.
In a statement released Monday following its second special shareholders’ meeting, FII refuted claims about "lowering the Q4 performance target" and assertions that "the major customer will adjust its business model for L10/L11."
"The relevant remarks circulating online are untrue. Currently, the company’s overall operations in the fourth quarter, including the shipments of products such as GB200 and GB300, are progressing as scheduled," the company stated. FII added that "customer demand remains strong, and production and shipments are operating normally."
The company emphasized it has not received any requests from major customers regarding business model adjustments, downward revisions of share allocations, or price adjustments. FII also confirmed that next-generation products co-developed with customers are advancing as planned.
During the special shareholders’ meeting held Monday, FII shareholders approved several proposals including the cancellation of the supervisory board and amendments to the company’s articles of association. Shareholders also approved an interim profit distribution plan for the first half of 2025 and a proposal for the repurchase of company shares via continuous auction.
FII is 84.10% owned by Hon Hai Precision Industry, commonly known as Foxconn, one of the world’s largest electronics manufacturing service providers.
The information was disclosed in a regulatory filing based on a press release statement to the London Stock Exchange.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.