Foxconn dispels rumors that "180 billion yuan in additional taxes are needed"

On the evening of November 2nd, the official Weibo account of Foxconn Technology Group released a statement stating that online rumors such as "Foxconn has been thoroughly investigated and needs to pay 180 billion yuan in taxes, and about 20000 football fields will be taken back to the state" are all rumors.Individual self media spread rumors without reason, fabricated facts, and published inaccurate content on multiple platform channels, seriously damaging our group's reputation

On the evening of November 2nd, the official Weibo account of Foxconn Technology Group released a statement stating that online rumors such as "Foxconn has been thoroughly investigated and needs to pay 180 billion yuan in taxes, and about 20000 football fields will be taken back to the state" are all rumors.

Individual self media spread rumors without reason, fabricated facts, and published inaccurate content on multiple platform channels, seriously damaging our group's reputation. "The statement stated that Foxconn has always adhered to legal and compliant operations, and currently, the group's production and operation are normal and orderly.

On October 22nd, Foxconn reported being subject to tax inspections by the tax authorities. According to media reports, the tax authorities conducted tax inspections on Foxconn Group's key enterprises in Guangdong, Jiangsu, and other places in accordance with the law. The natural resources department conducted on-site investigations on the land use of Foxconn's key enterprises in Henan, Hubei, and other places. Foxconn's parent company, Hon Hai Group, subsequently issued a statement in response, stating: "Legitimacy and compliance are the fundamental principles of the group worldwide. We will actively cooperate with relevant units in their related operations

The reporter noticed that Foxconn's domestic factory has been recruiting normally recently. On November 1st, Foxconn also released a recruitment message, recruiting hourly workers for the FIH, iDSBG, and WWW business groups located in Longhua, Shenzhen, at a price of 22 yuan per hour. The relevant business units are responsible for brand phone assembly, phone parts production, and phone camera production. However, the relevant recruitment official account of Zhengzhou Foxconn iDPBG business group, which produces iPhones and other products by Foxconn, has not released any information since the release of "internal recommended partner recruitment" at the end of September.

Foxconn, founded by Terry Gou, is a manufacturing plant for electronic devices such as Apple phones and Sony, with revenue of $216 billion in 2022. Hon Hai's main production bases are distributed in multiple provinces in China, with 767000 employees. According to the official website of Foxconn, in 1988, Foxconn invested in Chinese Mainland, with more than 40 parks and millions of employees in the peak period. It is the world's largest electronic technology intelligent manufacturing service provider.

Zhengzhou, Henan is Foxconn's main production site for smartphones. Foxconn has three factories in Zhengzhou, which is Foxconn's main manufacturing base for producing iPhones for Apple. The factory has over 90 production lines and approximately 350000 workers. The relevant officials of Zhengzhou Airport Comprehensive Bonded Zone and Port Service Bureau have stated that Foxconn achieved a total import and export volume of over 460 billion yuan in the region throughout the year.

After news of Foxconn's tax inspection, the stock prices of Foxconn's parent company, Hon Hai, and Foxconn's subsidiary, Industrial Fulian, weakened. From October 23 to November 2, Hon Hai fell 6.28%, while Industrial Fulian's stock price fell 9.71%.

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