By Wang Shen
Foxconn Industrial Internet Co., Ltd. (FII) will go public in the A-share market on June 8 and publish its employee-stock-ownership incentive plan, as reported by the Shanghai Securities News on Thursday.
According to the financial report for the first quarter of 2018 published by the FII, it has gained an operating revenue of RMB 77.695 billion, increasing by 19.78 percent when compared with the first quarter of 2017, and earned a net profit of RMB 26.5 billion, up by 4.53 percent.
Guo Taiming, the president of Foxconn Technology Group, stated that Foxconn currently was at a turning point of opportunities and devoted to promoting the deep integration of the real economy with the Internet, big data and artificial intelligence. Foxconn will implement a strategy for innovative Industrial Internet development and may consider using a partnership system.
Based on its 30-year experience in the innovative development and precision manufacturing, Foxconn will turn big industrial data into artificial intelligence and help the Industrial Internet move on to the third industrial revolution.
One of the reasons that Foxconn decided to go public in the A-share Market is that it is difficult for employees from the Chinese mainland to purchase stocks in the Taiwan Stock Exchange.
The Shenzhen Municipal Committee Secretary, Wang Weizhong, stated that Foxconn was expected to be a name card of Shenzhen's manufacturing industry and to help Shenzhen make new achievements in the Industrial Internet.
The Essence Securities Co., Ltd. believed that Foxconn had redefined its position and upgraded itself from an original equipment manufacturer to a provider of Industrial Internet. In 2015, Foxconn started to develop and research about Beacon, an Industrial Internet platform, and applied Beacon to its manufacturing process in 2016.
The FII going public will have motivating effects on the Industry 4.0, Industrial Internet software, cloud services and so forth. The Industrial Internet is expected to be a crucial new growth point for information technology in the industry.
