News Snapshot:
Foxconn Industrial Internet Co Ltd (FII, 富士康工業互聯網) has invested 9.8 billion yuan (US$1.46 billion) in state-backed Chinese chip company Tsinghua Unigroup (紫光集團) through a private equity fund. The Shanghai-listed server and networking devices firm, which is 85 percent owned by Hon Hai Precision Industry Co (鴻海精密), is planning to invest in the semiconductor industry. It now holds a 15 percent stake in Tsinghua Unigroup through the newly formed Xingwei (Guangzhou) Industrial Investment Partnership Ltd (興微廣州產業投資) fund. Created in March along with Beijing Zhilu Asset Management Co (北京智路資產管理), the fund is one of 10 equity funds comprising Beijing Zhiguangxin Holding Co...
