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TAIPEI/SHENZHEN - Hon Hai (TW:2317) Precision Industry Co Ltd, also known as Foxconn (SS:601138), announced Monday that its subsidiary FUTAIHUA INDUSTRIAL (SHENZHEN) CO., LTD. has acquired right-of-use assets for factory buildings in Shenzhen, China.
The transaction, approved by the company’s board of directors, involves leasing approximately 68,995 square meters (20,871 ping) of manufacturing space located in Area B of Foxconn Hongguan Science and Technology Park in Longhua District, Shenzhen.
The lease agreement was made with Foxconn Technology Group Co., Ltd., an affiliate of Hon Hai, at a rate of RMB 20.31 per square meter. The total contract value amounts to RMB 42.03 million, with the right-of-use assets valued at RMB 36.29 million.
According to the company statement, the lease period runs from July 1, 2025, to December 31, 2027. The transaction was negotiated based on market prices and approved by Hon Hai’s board of directors and audit committee.
The company cited "operational needs" as the purpose for acquiring the right-of-use assets. The decision was part of the company’s "group resource integration" strategy, according to the press release statement.
No dissenting opinions were expressed by directors regarding this transaction, which was formally approved on June 30, 2025.
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