News Snapshot:
Foxconn Industry Internet (FII), the Shanghai-listed subsidiary of Hon Hai Technology Group, has acquired a minority stake in China’s state-backed chip maker Tsinghua Unigroup. Hon Hai - also known as Foxconn, the world’s largest iPhone assembler – invested 5.38 billion yuan (US$788 million) in Tsinghua Unigroup via Guangzhou-based Xingwei Industrial Investment Partnership Fund, Taiwan-listed Hon Hai Technology said in a stock filing on Thursday. The Xingwei investment fund was set up in March 2022 by FII and Wise Road Capital, the lead investor behind Tsinghua Unigroup’s debt restructuring process. FII controls a 99 per cent stake in Xingwei. Apple supplier...
