1 thought on “Foxconn's growth anxiety: emergency transformation and car manufacturing, Apple workers are not good”
Myrtle
Edit | Zhang Shuo The path of transformation of Foxconn finally reached the situation of "burning eyebrows".
Foxconn began to recruit talents for his electric vehicle platform. On January 15, a person familiar with the matter confirmed that Zheng Xiancong had joined the Fuji Kang parent company Hon Hai Technology as the chief executive officer of his electric vehicle platform. Zheng Xiancong has 40 years of experience in the automotive field. He has worked in car companies such as Weilai, Fiat China, GAC Fiat, Ford, and Ford. In August 2019, his unclear co -founder and vice president of Weilai Automobile.
On January 13, Foxconn and Geely announced the establishment of a joint venture with Geely for "providing foundry production and customization for" global cars and travel companies worldwide Consultant service. This is the second time that Foxconn has signed strategic cooperation with the vehicle company since January this year. Previously, on January 4th, Foxconn had just shot "saving" and was in a stoppage of new car forces due to the shortage of cash flow.
In a joint venture with Geely, Guo Taiming, who has not been out of the mountain for a long time, personally entered the station to build a platform. Behind this is the slow transformation progress of Foxconn. Essence
as to determine the direction of the transformation from many years ago, after the Apple car construction plan has surfaced, the call of McGona foundry has been higher than Foxconn, and Foxconn still has no overall vehicle. There is no experience in manufacturing, and its passive situation can only be reversed in the automotive circle to find allies.
Fitos of Foxconn in the construction of a car is also the epitome of its transformation in various fields. Especially after Guo Taiming faded out of the decision -making layer, Foxconn actually adopted a collective leadership system, so semiconductor, electric vehicle, and industrial Internet ... New chairman Liu Yangwei was the direction of the transformation of Foxconn, and almost took care of the members of the business management association. field.
. Foxconn has the most "sexy" existence among industrial giants in recent years. Numerous concepts of market value legends have been given.
This can even clearly see that Foxconn's core advantage is declining, far -consciousness and near -worrying. The most obvious signs include that in order to prevent the foundry chain, Apple scattered the order to companies such as Lixun Precision and Goer. Hon Hai Group. In addition, the cost of labor has risen year by year, and how far the advantages of Foxconn -based factories management capabilities can go, and there are many uncertainty.
On the road to transformation, Foxconn does not lack strategic depth. There are more than 20 listed companies, with a wide range of business lines. However, in the years of transformation, Foxconn worked hard to maintain the "balance", dispersed resources, dispersed responsibilities, and dispersed the responsibilities needed during the critical period of the group transformation.
There is no doubt that Foxconn, an industrial giant, needs to find the correct way to invest in its own future.
For the grabbing Apple car, Foxconn searched for allies
The people familiar with Foxconn said that Apple is the most important customer of Foxconn, but After the Apple car manufacturing plan was exposed, Foxconn's service capabilities were not only lagging behind Apple's demand, but also behind the industry trend. The alarm has sounded. At present, Foxconn has more than 30 parks in mainland China, but there is no vehicle project. In addition, Foxconn itself does not have the qualifications of the vehicle nor the entire vehicle production experience.
Figure/Vision China
In order to change the situation, Foxconn began to "find allies" in the car circle. Whether it is a joint venture with Geely or the cooperation with Byton, they point to a goal, that is, to obtain the capacity of the vehicle.
On January 4, Byton, which had been suspended for nearly half a year, announced the signing of a strategic cooperation framework agreement with Foxconn Technology Group and Nanjing Economic and Technological Development Zone to promote the first model of Byton M-Byte Made in the first quarter of 2022 to achieve mass production.
Byron stopped, the lack of money. But how much funds have provided Foxconn, what ways this money is this money and what conditions are injects into Byton, Byton refused to disclose to the outside world.
last December, the AI Financial News Agency was exclusively informed that the cooperation between the two parties will mainly focus on Byton's factories. Foxconn has sent a team to inspect the Byton Nanjing plant on the spot. Foxconn survey delegations are most valued.
For Byton, if Foxconn can help the construction of manufacturing, it is really needed. The AI Finance News learned that after Byton, there were only about 300 people in the core team, of which about 200 were attributed to the Shengteng team to focus on research and development; Essence
The mass production of M-Byte, the manufacturing team of hundreds of people obviously cannot do it. The AI Finance News learned that the Byton Nanjing Intelligent Manufacturing Base Project has been completed, and the first batch of trial production vehicles have been successfully offline in the first half of 2020. However, for the manufacture of the vehicle, there is still a long distance from trial production to realizing the mass production and production capacity climbing.
In previous planning, Byton Nanjing plant planned capacity of 300,000 vehicles and 150,000 vehicles in the first phase. Relying on Foxconn's factory management capabilities, it is possible to assist Byton to build production and "revitalize" Byton's factory.
For this point, Byton does not deny. Byton said outside that Foxconn has a mature system in high -end manufacturing, cost control, and quality control, which is exactly what Byton values. Byton hopes to realize the introduction of personnel, technology and industrial chain resources with the help of Foxconn, and finally promote M-Byte mass production.
but there is no free lunch in the world. The cost of helping is that Byton will "share" its factory from Foxconn.
In fact, Byton's Nanjing plant is one of its advantageous assets. In the "new power building forces", due to the long -term shutdown, Byton has lagged behind the opponents in many core capabilities such as products, channels, and brands, but compared to several other companies, Byton's factory planning is still complete.
The previous exploration of the industry obviously gave Foxconn's experience in entering the new car track: Weilai itself does not have the vehicle production qualification, and its products are currently founded by JAC; Xiaopeng is the same as JAC; From the foundry to the self -built factory, the first product G3 was mainly caused by Zhengzhou Haima foundry. The design capacity is only 100,000 units.
In contrast, Byteng has obtained new energy vehicle production qualifications last year, and it is also a key project supported by Nanjing. A lot of support is not available for Foxconn, which is intended to cut into the new energy vehicle industry.
Whether it is the design capacity of 300,000 vehicles in the Byton Nanjing plant, or the first phase of 150,000 vehicles, it is difficult to use it in the short term. Take Weilai, the leading power of the new domestic car, as an example. In 2020, the three vehicles in Weilai delivered a total of 43,700 vehicles. In the case of only one M-Byte in Byton, the factory capacity climbed smoothly. There will be a lot of idle production capacity. use.
This provides space for cooperation with Foxconn. In fact, Foxconn has been accumulating forces to cut into the new energy vehicle industry chain, especially after Apple's car manufacturing plan is released.
Foxconn's car “offensive and defensive” war
cars are called "king of industry". In the era of fuel vehicle, the vehicle platform , Craft level, cost management, quality control, and supply chain control capabilities are the key to competition between different car company groups. Through the coordination of share platforms and components, they can hatch different brands and different categories of products. At this time, companies can be incubated. At this time, companies The differences in core competitiveness are concentrated in production and manufacturing, so the entire car manufacturer needs to dominate its own production.
Figure/Vision China
But after the rise of electric vehicles, the difficulty of the entire vehicle manufacturing is greatly reduced. Open procurement, coupled with the rapid iteration cycle of electric vehicle technology, therefore, the focus of competitive focus steering technology accumulation and product realization, manufacturing itself does not mean absolute barriers, outsourcing has become the choice of some new entrants.
The "sinking" made by electric vehicles for the entire vehicle, let Foxconn see the opportunity to "upgrade" by the way. In 2018, Fifteen participated in the B round of financing in Xiaopeng Automobile, and then withdrew the original price. Although the official statement was to avoid the timetable and certainty of affecting Xiaopeng Automobile's reorganization, it also caused Foxconn to miss the opportunity to share new car dividends. In early 2020, Foxconn and Fiat Chrysler formed an electric vehicle joint venture to form a "weak alliance" and began a make -up class in the field of electric vehicles.
For cutting into the electric vehicle, Foxconn released the pure electric chassis platform MIH last October. According to Foxconn Chairman Liu Yangwei, Foxconn will realize the vision of components or services in 10%of the world's global electric vehicles from 2025 to 2027.
But the speed of the outside world still exceeds Foxconn's reaction speed. When Foxconn slowly released the license, the big customer Apple took a step first, and the Apple CAR will launch the news about the car around 2025.
This can continue to win Apple's car orders, reflecting the opportunity to cut into the electric vehicle foundry in the electric vehicle. The reality is that Foxconn's competitive pressure is very high. There is no experience in building and no car -building experience, and there is almost no bidding advantage.
Obviously, Foxconn encountered more professional opponents in "car building" foundry. This is just like Foxconn's encounters in most transformation directions. Foxconn, who is trying to make the water flat, seems to be able to put on every conceptual hotspot, but in each field, it still looks like a "migrant worker" who is humble.
Fitos of the "lost focus" transformation path
For Foxconn, the establishment of transformation cognition, awareness of the direction of transformation and opportunities lies It is not difficult. It is difficult to build execution in a group with such large -scale and business lines. Similar to Foxconn's encounter in the automotive field, Foxconn's need to transform has been established many years ago, but the pace has been extremely slow.
AI Finance found that in February 2018, when Guo Taiming, then President of Foxconn, mentioned Foxconn's transformation target in public, he said "a global innovative artificial intelligence platform, It's not just a manufacturing company. " However, in the "3 3" transformation strategy released by the new chairman Liu Yangwei in 2019, the target expression became actively cut into three emerging industries of electric vehicles, medical and health, and robots. Emerging Technologies.
Liu Yangwei proposed the six concepts involved in "3 3", which almost included most popular areas in recent years. Out of Focus. At the senior management of Hon Hai Group, Liu Yangwei has a deeper high -level background.
Po Guo Taiming faded out of Hon Hai's decision -making layer, Hon Hai Precision established an operating committee composed of nine people to the collective leadership system. From the list of business management associations, the AI Finance News found that according to the list of business committees announced at that time, the corresponding business direction of the group vice president Lu Fangming was 5G, while the chairman Liu Yangwei corresponded to the semiconductor business. Chairman, corresponding to the industrial Internet business, only Lu Songqing's corresponding business is a car -related car -related car.
Figure/Vision China
This makes Hon Hai Group, which has a large system and complicated business sector, is difficult to focus on the direction.
The transformation of the industrial Internet field as an example. According to the 2020 half annual report of the A -share listed company Industrial Fulian, the cloud computing business has indeed become the largest growth point of the revenue of industrial Fulian. In the current period, the proportion of the business of this sector in the total revenue of the Federation of Industrial Federation has increased from 40%at the end of 2019 to 45%.
. However, it can be seen from the financial report that the cloud computing business of the Fulian Federation includes providing cloud computing hardware modules, combining hardware with software, and creating a complete cloud ecological system. The AI Finance Society learned that the cloud computing business of the Fulian Federation is still dominated by hardware foundry, and the scale of software business is small, which has maintained the gross profit margin of the company's cloud computing business at only 4.48%. In other words, although the shell of the industrial Internet and cloud computing, Foxconn's business in this field is still mainly foundry.
In addition to the electric vehicles mentioned in the previous article, another transformation direction of Foxconn is semiconductor. Under the chairman Liu Yangwei personally, Foxconn has obtained more resources in the semiconductor field tilt.
AI Finance News that Foxconn signed Qingdao's advanced chip packaging and test project in April 2020, with a total investment of 1 billion yuan, which was limited by Foxconn Technology Group and Fusion Holding Group Co., Ltd. The company invests together. According to the plan, the project will be put into production this year and will be produced in 2025. After completion, it is expected that monthly production capacity will reach 30,000 pieces of 12 -inch wafers.
In addition to the Qingdao project, from 2018 to the end of 2020, Foxconn and its companies have successively signed a semiconductor project with cooperative parties such as Jinan, Nanjing, Kunshan. According to Liu Yangwei's statement at the financial report meeting, for the semiconductor field, the company's main layout direction is semiconductor 3D packaging, panel -level packaging (PLP) and system -level packaging (SIP). In addition, IC design is also the focus of Hon Hai's layout. In June 2020, Hon Hai announced the establishment of the "Hon Hai Research Institute", including five major research institutes including artificial intelligence, semiconductor, new generation communication, Zitong security and quantum computing.
The long -term effects brought by these inputs are difficult to appear in the short -term. In addition, it can be determined that Foxconn's investment in semiconductors is still concentrated in the downstream of the relatively small industrial chain.
The semiconductor chain can be roughly divided into three major links: design, manufacturing and packaging. The links with higher profits and technical content are design and manufacturing. Waiting for the faucet. However, from the perspective of Foxconn's current investment, semiconductor packaging may contribute profits to Foxconn, but it is more like a continuation of traditional advantages and cannot solve the core problem of upgrading and transformation facing Foxconn.
Compared with the overall volume of an industrial empire of more than one trillion in revenue, Foxconn's transformation on semiconductor, electric vehicle, and industrial Internet is underway, but the investment and body If the amount is not proportional, the results are slow. Under the collective leadership, Foxconn maintains the "balanced" of the transformation, and has dispersed resources, more responsibility, and dispersed the responsibility required for the group's key period.
Foxconn's far -sightedness and near -worry
Today, a series of tragedies of "12 consecutive jumps" from Foxconn Factory employees have passed. In the past ten years, Foxconn was still the hard -sweat factory in people's impression.
Figure/Vision China
Thente "Hatant Sweat Factory" for ten years, Foxconn is also uncomfortable. According to financial reports, Hon Hai Group, a core listed company of Fuji Kang's parent company, revenue of NT $ 53,300 in 2019, or about 1.23 trillion yuan. Under trillion -dollar revenue, Hon Hai's precision profit margin The profit fell from 148.7 billion Taiwan dollars (about 34.4 billion yuan) in 2016 to NT $ 115.3 billion (about 26.7 billion yuan) in 2019.
Another core assets of the group, the full name of the Foxconn Industrial Internet Co., Ltd. "Foxconn Industrial Internet Co., Ltd.", which has been transformed by the company's current core business Still is a foundry. In the first half of 2020, the company's operating income during the reporting period was 176.65 billion yuan, an increase of 3.60%year -on -year; net profit attributable to shareholders of the parent company was 50.04 billion yuan, a year -on -year decrease of 7.98%.
In foundry business, Apple is the most important customer of Foxconn, but in order to prevent a family from being unique, Apple has gradually dispersed orders to Lixin Precision and Goer's shares. In the industry, the most obvious communication and consumer electronics market in Foxconn has become increasingly narrow.
. Foxconn's "foundry" advantage comes from cost control, manufacturing management, but when labor costs have become a trend, Foxconn's advantage can still be maintained. Essence
So the huge Foxconn's distant concern is the same as nearly worry. Foxconn not only needs to regain the competitive advantage other than the foundry, but also needs to enter the industry with higher profits and faster growth. And master the greater right to speak.
The two listed companies under Foxconn are given lower valuation by the capital market. At present, the market value of Hon Hai Group is about 353.2 billion yuan, and the price -earnings ratio is about 14.7 times. The listing of A -share Industry Fulian is at its peak. After the listing in June 2018, it reached a high level of 25.73, and it did not reach this interval. The current market value is about 282.9 billion yuan.
In contrast, Lixun Precision, known as "Little Fuji Kang" in 2019, revenue of 62.38 billion yuan, only about one -20 in the same period of Hon Hai Group, In the first half of 2020, the revenue was 36.5 billion yuan, less than a quarter of the Fulian Federation, the latest market value reached 416.6 billion yuan, and the price -earnings ratio was more than 63 times.
If in the slow transformation of Foxconn, is the lack of strategy depth? More than 20 listed companies under Foxconn have provided a huge financial ability. Is lack of cognition? From the moment becoming the largest foundry, Guo Taiming has realized the need for transformation. Is there a lack of opportunities? Each field of electric vehicles, semiconductors, and industrial Internet to Foxconn is involved in the opportunities brought by changes.
However, Foxconn's transformation is still advancing forward at a slow speed. For the king of industries that staggered, it needs more decisive decisions and more firm execution.
Edit | Zhang Shuo
The path of transformation of Foxconn finally reached the situation of "burning eyebrows".
Foxconn began to recruit talents for his electric vehicle platform. On January 15, a person familiar with the matter confirmed that Zheng Xiancong had joined the Fuji Kang parent company Hon Hai Technology as the chief executive officer of his electric vehicle platform. Zheng Xiancong has 40 years of experience in the automotive field. He has worked in car companies such as Weilai, Fiat China, GAC Fiat, Ford, and Ford. In August 2019, his unclear co -founder and vice president of Weilai Automobile.
On January 13, Foxconn and Geely announced the establishment of a joint venture with Geely for "providing foundry production and customization for" global cars and travel companies worldwide Consultant service. This is the second time that Foxconn has signed strategic cooperation with the vehicle company since January this year. Previously, on January 4th, Foxconn had just shot "saving" and was in a stoppage of new car forces due to the shortage of cash flow.
In a joint venture with Geely, Guo Taiming, who has not been out of the mountain for a long time, personally entered the station to build a platform. Behind this is the slow transformation progress of Foxconn. Essence
as to determine the direction of the transformation from many years ago, after the Apple car construction plan has surfaced, the call of McGona foundry has been higher than Foxconn, and Foxconn still has no overall vehicle. There is no experience in manufacturing, and its passive situation can only be reversed in the automotive circle to find allies.
Fitos of Foxconn in the construction of a car is also the epitome of its transformation in various fields. Especially after Guo Taiming faded out of the decision -making layer, Foxconn actually adopted a collective leadership system, so semiconductor, electric vehicle, and industrial Internet ... New chairman Liu Yangwei was the direction of the transformation of Foxconn, and almost took care of the members of the business management association. field.
. Foxconn has the most "sexy" existence among industrial giants in recent years. Numerous concepts of market value legends have been given.
This can even clearly see that Foxconn's core advantage is declining, far -consciousness and near -worrying. The most obvious signs include that in order to prevent the foundry chain, Apple scattered the order to companies such as Lixun Precision and Goer. Hon Hai Group. In addition, the cost of labor has risen year by year, and how far the advantages of Foxconn -based factories management capabilities can go, and there are many uncertainty.
On the road to transformation, Foxconn does not lack strategic depth. There are more than 20 listed companies, with a wide range of business lines. However, in the years of transformation, Foxconn worked hard to maintain the "balance", dispersed resources, dispersed responsibilities, and dispersed the responsibilities needed during the critical period of the group transformation.
There is no doubt that Foxconn, an industrial giant, needs to find the correct way to invest in its own future.
For the grabbing Apple car, Foxconn searched for allies
The people familiar with Foxconn said that Apple is the most important customer of Foxconn, but After the Apple car manufacturing plan was exposed, Foxconn's service capabilities were not only lagging behind Apple's demand, but also behind the industry trend. The alarm has sounded. At present, Foxconn has more than 30 parks in mainland China, but there is no vehicle project. In addition, Foxconn itself does not have the qualifications of the vehicle nor the entire vehicle production experience.
Figure/Vision China
In order to change the situation, Foxconn began to "find allies" in the car circle. Whether it is a joint venture with Geely or the cooperation with Byton, they point to a goal, that is, to obtain the capacity of the vehicle.
On January 4, Byton, which had been suspended for nearly half a year, announced the signing of a strategic cooperation framework agreement with Foxconn Technology Group and Nanjing Economic and Technological Development Zone to promote the first model of Byton M-Byte Made in the first quarter of 2022 to achieve mass production.
Byron stopped, the lack of money. But how much funds have provided Foxconn, what ways this money is this money and what conditions are injects into Byton, Byton refused to disclose to the outside world.
last December, the AI Financial News Agency was exclusively informed that the cooperation between the two parties will mainly focus on Byton's factories. Foxconn has sent a team to inspect the Byton Nanjing plant on the spot. Foxconn survey delegations are most valued.
For Byton, if Foxconn can help the construction of manufacturing, it is really needed. The AI Finance News learned that after Byton, there were only about 300 people in the core team, of which about 200 were attributed to the Shengteng team to focus on research and development; Essence
The mass production of M-Byte, the manufacturing team of hundreds of people obviously cannot do it. The AI Finance News learned that the Byton Nanjing Intelligent Manufacturing Base Project has been completed, and the first batch of trial production vehicles have been successfully offline in the first half of 2020. However, for the manufacture of the vehicle, there is still a long distance from trial production to realizing the mass production and production capacity climbing.
In previous planning, Byton Nanjing plant planned capacity of 300,000 vehicles and 150,000 vehicles in the first phase. Relying on Foxconn's factory management capabilities, it is possible to assist Byton to build production and "revitalize" Byton's factory.
For this point, Byton does not deny. Byton said outside that Foxconn has a mature system in high -end manufacturing, cost control, and quality control, which is exactly what Byton values. Byton hopes to realize the introduction of personnel, technology and industrial chain resources with the help of Foxconn, and finally promote M-Byte mass production.
but there is no free lunch in the world. The cost of helping is that Byton will "share" its factory from Foxconn.
In fact, Byton's Nanjing plant is one of its advantageous assets. In the "new power building forces", due to the long -term shutdown, Byton has lagged behind the opponents in many core capabilities such as products, channels, and brands, but compared to several other companies, Byton's factory planning is still complete.
The previous exploration of the industry obviously gave Foxconn's experience in entering the new car track: Weilai itself does not have the vehicle production qualification, and its products are currently founded by JAC; Xiaopeng is the same as JAC; From the foundry to the self -built factory, the first product G3 was mainly caused by Zhengzhou Haima foundry. The design capacity is only 100,000 units.
In contrast, Byteng has obtained new energy vehicle production qualifications last year, and it is also a key project supported by Nanjing. A lot of support is not available for Foxconn, which is intended to cut into the new energy vehicle industry.
Whether it is the design capacity of 300,000 vehicles in the Byton Nanjing plant, or the first phase of 150,000 vehicles, it is difficult to use it in the short term. Take Weilai, the leading power of the new domestic car, as an example. In 2020, the three vehicles in Weilai delivered a total of 43,700 vehicles. In the case of only one M-Byte in Byton, the factory capacity climbed smoothly. There will be a lot of idle production capacity. use.
This provides space for cooperation with Foxconn. In fact, Foxconn has been accumulating forces to cut into the new energy vehicle industry chain, especially after Apple's car manufacturing plan is released.
Foxconn's car “offensive and defensive” war
cars are called "king of industry". In the era of fuel vehicle, the vehicle platform , Craft level, cost management, quality control, and supply chain control capabilities are the key to competition between different car company groups. Through the coordination of share platforms and components, they can hatch different brands and different categories of products. At this time, companies can be incubated. At this time, companies The differences in core competitiveness are concentrated in production and manufacturing, so the entire car manufacturer needs to dominate its own production.
Figure/Vision China
But after the rise of electric vehicles, the difficulty of the entire vehicle manufacturing is greatly reduced. Open procurement, coupled with the rapid iteration cycle of electric vehicle technology, therefore, the focus of competitive focus steering technology accumulation and product realization, manufacturing itself does not mean absolute barriers, outsourcing has become the choice of some new entrants.
The "sinking" made by electric vehicles for the entire vehicle, let Foxconn see the opportunity to "upgrade" by the way. In 2018, Fifteen participated in the B round of financing in Xiaopeng Automobile, and then withdrew the original price. Although the official statement was to avoid the timetable and certainty of affecting Xiaopeng Automobile's reorganization, it also caused Foxconn to miss the opportunity to share new car dividends. In early 2020, Foxconn and Fiat Chrysler formed an electric vehicle joint venture to form a "weak alliance" and began a make -up class in the field of electric vehicles.
For cutting into the electric vehicle, Foxconn released the pure electric chassis platform MIH last October. According to Foxconn Chairman Liu Yangwei, Foxconn will realize the vision of components or services in 10%of the world's global electric vehicles from 2025 to 2027.
But the speed of the outside world still exceeds Foxconn's reaction speed. When Foxconn slowly released the license, the big customer Apple took a step first, and the Apple CAR will launch the news about the car around 2025.
This can continue to win Apple's car orders, reflecting the opportunity to cut into the electric vehicle foundry in the electric vehicle. The reality is that Foxconn's competitive pressure is very high. There is no experience in building and no car -building experience, and there is almost no bidding advantage.
Obviously, Foxconn encountered more professional opponents in "car building" foundry. This is just like Foxconn's encounters in most transformation directions. Foxconn, who is trying to make the water flat, seems to be able to put on every conceptual hotspot, but in each field, it still looks like a "migrant worker" who is humble.
Fitos of the "lost focus" transformation path
For Foxconn, the establishment of transformation cognition, awareness of the direction of transformation and opportunities lies It is not difficult. It is difficult to build execution in a group with such large -scale and business lines. Similar to Foxconn's encounter in the automotive field, Foxconn's need to transform has been established many years ago, but the pace has been extremely slow.
AI Finance found that in February 2018, when Guo Taiming, then President of Foxconn, mentioned Foxconn's transformation target in public, he said "a global innovative artificial intelligence platform, It's not just a manufacturing company. " However, in the "3 3" transformation strategy released by the new chairman Liu Yangwei in 2019, the target expression became actively cut into three emerging industries of electric vehicles, medical and health, and robots. Emerging Technologies.
Liu Yangwei proposed the six concepts involved in "3 3", which almost included most popular areas in recent years. Out of Focus. At the senior management of Hon Hai Group, Liu Yangwei has a deeper high -level background.
Po Guo Taiming faded out of Hon Hai's decision -making layer, Hon Hai Precision established an operating committee composed of nine people to the collective leadership system. From the list of business management associations, the AI Finance News found that according to the list of business committees announced at that time, the corresponding business direction of the group vice president Lu Fangming was 5G, while the chairman Liu Yangwei corresponded to the semiconductor business. Chairman, corresponding to the industrial Internet business, only Lu Songqing's corresponding business is a car -related car -related car.
Figure/Vision China
This makes Hon Hai Group, which has a large system and complicated business sector, is difficult to focus on the direction.
The transformation of the industrial Internet field as an example. According to the 2020 half annual report of the A -share listed company Industrial Fulian, the cloud computing business has indeed become the largest growth point of the revenue of industrial Fulian. In the current period, the proportion of the business of this sector in the total revenue of the Federation of Industrial Federation has increased from 40%at the end of 2019 to 45%.
. However, it can be seen from the financial report that the cloud computing business of the Fulian Federation includes providing cloud computing hardware modules, combining hardware with software, and creating a complete cloud ecological system. The AI Finance Society learned that the cloud computing business of the Fulian Federation is still dominated by hardware foundry, and the scale of software business is small, which has maintained the gross profit margin of the company's cloud computing business at only 4.48%. In other words, although the shell of the industrial Internet and cloud computing, Foxconn's business in this field is still mainly foundry.
In addition to the electric vehicles mentioned in the previous article, another transformation direction of Foxconn is semiconductor. Under the chairman Liu Yangwei personally, Foxconn has obtained more resources in the semiconductor field tilt.
AI Finance News that Foxconn signed Qingdao's advanced chip packaging and test project in April 2020, with a total investment of 1 billion yuan, which was limited by Foxconn Technology Group and Fusion Holding Group Co., Ltd. The company invests together. According to the plan, the project will be put into production this year and will be produced in 2025. After completion, it is expected that monthly production capacity will reach 30,000 pieces of 12 -inch wafers.
In addition to the Qingdao project, from 2018 to the end of 2020, Foxconn and its companies have successively signed a semiconductor project with cooperative parties such as Jinan, Nanjing, Kunshan. According to Liu Yangwei's statement at the financial report meeting, for the semiconductor field, the company's main layout direction is semiconductor 3D packaging, panel -level packaging (PLP) and system -level packaging (SIP). In addition, IC design is also the focus of Hon Hai's layout. In June 2020, Hon Hai announced the establishment of the "Hon Hai Research Institute", including five major research institutes including artificial intelligence, semiconductor, new generation communication, Zitong security and quantum computing.
The long -term effects brought by these inputs are difficult to appear in the short -term. In addition, it can be determined that Foxconn's investment in semiconductors is still concentrated in the downstream of the relatively small industrial chain.
The semiconductor chain can be roughly divided into three major links: design, manufacturing and packaging. The links with higher profits and technical content are design and manufacturing. Waiting for the faucet. However, from the perspective of Foxconn's current investment, semiconductor packaging may contribute profits to Foxconn, but it is more like a continuation of traditional advantages and cannot solve the core problem of upgrading and transformation facing Foxconn.
Compared with the overall volume of an industrial empire of more than one trillion in revenue, Foxconn's transformation on semiconductor, electric vehicle, and industrial Internet is underway, but the investment and body If the amount is not proportional, the results are slow. Under the collective leadership, Foxconn maintains the "balanced" of the transformation, and has dispersed resources, more responsibility, and dispersed the responsibility required for the group's key period.
Foxconn's far -sightedness and near -worry
Today, a series of tragedies of "12 consecutive jumps" from Foxconn Factory employees have passed. In the past ten years, Foxconn was still the hard -sweat factory in people's impression.
Figure/Vision China
Thente "Hatant Sweat Factory" for ten years, Foxconn is also uncomfortable. According to financial reports, Hon Hai Group, a core listed company of Fuji Kang's parent company, revenue of NT $ 53,300 in 2019, or about 1.23 trillion yuan. Under trillion -dollar revenue, Hon Hai's precision profit margin The profit fell from 148.7 billion Taiwan dollars (about 34.4 billion yuan) in 2016 to NT $ 115.3 billion (about 26.7 billion yuan) in 2019.
Another core assets of the group, the full name of the Foxconn Industrial Internet Co., Ltd. "Foxconn Industrial Internet Co., Ltd.", which has been transformed by the company's current core business Still is a foundry. In the first half of 2020, the company's operating income during the reporting period was 176.65 billion yuan, an increase of 3.60%year -on -year; net profit attributable to shareholders of the parent company was 50.04 billion yuan, a year -on -year decrease of 7.98%.
In foundry business, Apple is the most important customer of Foxconn, but in order to prevent a family from being unique, Apple has gradually dispersed orders to Lixin Precision and Goer's shares. In the industry, the most obvious communication and consumer electronics market in Foxconn has become increasingly narrow.
. Foxconn's "foundry" advantage comes from cost control, manufacturing management, but when labor costs have become a trend, Foxconn's advantage can still be maintained. Essence
So the huge Foxconn's distant concern is the same as nearly worry. Foxconn not only needs to regain the competitive advantage other than the foundry, but also needs to enter the industry with higher profits and faster growth. And master the greater right to speak.
The two listed companies under Foxconn are given lower valuation by the capital market. At present, the market value of Hon Hai Group is about 353.2 billion yuan, and the price -earnings ratio is about 14.7 times. The listing of A -share Industry Fulian is at its peak. After the listing in June 2018, it reached a high level of 25.73, and it did not reach this interval. The current market value is about 282.9 billion yuan.
In contrast, Lixun Precision, known as "Little Fuji Kang" in 2019, revenue of 62.38 billion yuan, only about one -20 in the same period of Hon Hai Group, In the first half of 2020, the revenue was 36.5 billion yuan, less than a quarter of the Fulian Federation, the latest market value reached 416.6 billion yuan, and the price -earnings ratio was more than 63 times.
If in the slow transformation of Foxconn, is the lack of strategy depth? More than 20 listed companies under Foxconn have provided a huge financial ability. Is lack of cognition? From the moment becoming the largest foundry, Guo Taiming has realized the need for transformation. Is there a lack of opportunities? Each field of electric vehicles, semiconductors, and industrial Internet to Foxconn is involved in the opportunities brought by changes.
However, Foxconn's transformation is still advancing forward at a slow speed. For the king of industries that staggered, it needs more decisive decisions and more firm execution.