Hon Hai Group’s headquarters, in Taipei, Taiwan, 15 July 2021.
Ceng Shou Yi | Nurphoto | Getty Images
Apple supplier Foxconn, formally referred to as Hon Hai, mentioned it will cooperate with Chinese authorities on investigations, following a report that officers are conducting tax audit inspections and reviewing land use of Foxconn subsidiaries.
State media Global Times reported on Sunday, citing unnamed sources, that a number of workplaces of Hon Hai’s subsidiaries throughout China had been subjected to tax audits and on-site investigations into land use. The report didn’t elaborate on the investigations.
Hon Hai Technology Group is the world’s largest contract electronics producer. The firm assembles client merchandise like Apple’s iPhones.
“Legal compliance in all places we function all over the world is a basic precept of Hon Hai Technology Group (Foxconn). We will actively cooperate with the related models on the associated work and operations,” the corporate mentioned in a press release on Sunday.
Hon Hai’s Taipei-listed shares fell 3.29% in early Monday morning commerce.
Hon Hai share efficiency
The investigations come as Foxconn founder Terry Gou bids to turn into Taiwan’s subsequent president. Beijing claims that the self-governed island is a part of its territory.
In August, Gou announced that he was coming into Taiwan’s 2024 presidential elections as an unbiased candidate after once more failing to safe the nomination for the primary opposition Kuomintang social gathering earlier this yr. He dropped a earlier presidential bid in 2019 after the KMT chosen a distinct candidate as its nominee.
Gou stepped down as Foxconn chief in 2019 and resigned as an organization board member in September.