Recently, Foxconn Industrial Internet Co., Ltd., a subsidiary of Hon Hai Precision Industry Co., Ltd., disclosed the IPO prospectus on the official website of the China Securities Regulatory Commission and officially sought listing on the Shanghai Stock Exchange.
Foxconn, which has a lot of money and debtsIn recent years, from time to time, Foxconn’s huge investment or acquisition in the world has been heard:
In 2015, Foxconn invested $5 billion in India to build a factory;
In 2016, Foxconn spent nearly 400 billion yen to acquire Sharp;
In 2017, Foxconn invested 61 billion yuan in Guangzhou to build an ultra-high-definition LCD panel production line;
In the same year, Foxconn invested $10 billion in LCD panel production lines in the United States. And according to US President Trump, "the investment in the new US factory is actually $30 billion." "But he told me privately, so I promised that I would not tell others."
However, there is a time lag between the above investment distance and the ability to harvest profits. In the case of big money, Foxconn’s debt in recent years has gradually increased.
In 2016, Foxconn's load was 58.2 billion yuan, and by 2017, the debt was as high as 120.4 billion yuan. That is to say, Foxconn's liabilities increased by 62.2 billion yuan in a year, an increase of 106.8%. The debt ratio is about 81%, which is nearly double the 43% in 2016.
In the case of rapid growth of Foxconn's debt, its profits did not increase at the same time. Foxconn's profit in 2015-2017 was 14.35 billion yuan, 14.37 billion yuan and 15.87 billion yuan respectively. The profit growth rate in 2016 and 2017 was about 0.11. % and 10.45% are far from the level of debt growth.
Under this circumstance, although it cannot be denied that Foxconn is trying to transform itself and remove itself from the label of “sweatshopâ€, the financial problem is probably one of the reasons why Foxconn chose IPO. In particular, combined with artificial hotspots and other hot stories, you may be able to get high returns.
Artificial intelligence has become the biggest selling point of Foxconn's impact on A-share listingNot long ago, the Ministry of Science and Technology of China held a new-generation artificial intelligence development plan and major science and technology project kick-off meeting in Beijing.
Not only the government attaches great importance to it, but the media and capital are also very fond of artificial intelligence. This has caused many domestic technology companies to link themselves with artificial intelligence at this stage, which is very similar to the phenomenon that various "nanotechnology" were abused by the media and enterprises.
It is true that Foxconn’s label of artificial intelligence on its own may contain certain storytelling elements. But it is not entirely about putting gold on your face. For technical applications, Foxconn can really relate to smart manufacturing.
Wu Enda, an expert in artificial intelligence, also said that since July, his team has cooperated with several manufacturing companies in mainland China, Taiwan, and Japan to help them promote AI. Among them, it has been working with Foxconn to develop AI technology and promote talent training.
As the world's number one industrial power, the United States has already had some achievements in the application of artificial intelligence and robotics. In a textile mill in South Carolina called Parkdale, the textile mill employs about 140 people. In 1980, more than 2,000 workers were needed to reach the same level of production. The direct impact of the massive use of robots in the US textile industry is the substantial increase in the international competitiveness of US textiles.
Since the 1990s, textile production has gradually shifted to low-wage countries such as China, India, and Mexico, and the US textile industry has slowly disappeared. However, with the massive use of robots, the US textile industry has bottomed out. From 2009 to 2012, US textile and apparel exports increased by 37%, and exports reached about $23 billion. This shift is driven by highly efficient automation technologies that make the US textile industry competitive even in countries where labor is relatively cheap, such as China, India, and Mexico.
In the American car factory, workers were also replaced by robots. Only 160 highly flexible industrial robots are needed, and about 400 cars can be assembled every week. Whenever a new car site reaches the next position in the assembly line, there will be multiple robots around to work together. The robot can use the robotic arm to switch tools to complete the seat installation, replace the equipment, apply adhesive and install the windshield in place.
It can be said that the advancement of artificial intelligence + robot technology is likely to block the industrial development of the post-industrial countries by undertaking the low-end manufacturing industry in developed countries and gradually improving the level of their industrial level. The global industrial diffusion has been hundreds of years since the industrial revolution. It will be terminated, and the barriers between industrial countries, agricultural countries, and resource countries will be intensified by artificial intelligence technology. Even today's industrial countries have certain risks. Once they lag behind people in the smart manufacturing tide, they are likely to be eliminated in the fierce global competition and gradually de-industrialized.
ConclusionAlthough Foxconn's IPO is not lacking in storytelling, hotspots, and playing capital game components, if it is a true transformation and upgrade, there is hope to promote smart manufacturing batch applications, and gradually get rid of the "sweatshop" and "Apple foundry" hats. Since the IPO of Foxconn Industrial Internet Corporation was listed, Hon Hai Precision still holds 85% of Foxconn's equity. In other words, Hon Hai still firmly controls Foxconn. Therefore, in the end is to play capital games, then go to the United States, Japan premium 10 times buy and buy, or promote China's industrial 4.0 upgrade, I am afraid that between the words of Guo Taiming.
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